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EXTERNAL BUSINESS ENVIRONMENT

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TABLE OF CONTENTS Introduction ..................................................................................................................................... 1 Task 1 Structure and operation of UK economy ............................................................................ 1 Task 2 Analysis of current government economic policy along with its effect on business .......... 3 Task 3 Income, wealth, employment and occupational distribution to provision of service .......... 5 Task 4 Assessment of demographic trends that has influenced employment pattern ..................... 7 Task 5 Analysis of social structure of people employed at Ritz Carlton ........................................ 8 Task 6 Structure, operations and influence of local government on Ritz Carlton ........................ 10 Task 7 Evaluation of role and influence of EU along with its impact on business ...................... 11 Task 8 Assess roles of pressure group and their political influence on issues ............................. 12 Task 9 Legal frameworks within UK along with difference between English and Scottish System ....................................................................................................................................................... 13 Task 10 Evaluation of UK and EU legislative process at national and local level ....................... 15 Task 11 Different types and characteristics of business operates in hospitality sector ................ 16 Task 12 Legal processes for formation and dissolution of registered company ........................... 18 Task 13 Analysis of structure and process used to determine responsibilities and control within registered company ....................................................................................................................... 19 References ..................................................................................................................................... 20

INTRODUCTION External business environment comprises of many factors that is considered with external and internal business market situation. The present research report has been made with an attempt to analyze the structure and operation of UK economy with the current government and economic policies. The research has also stated all those factors that impacts employment patterns especially in hospitality industry. Thus the research report has been made on UK hospitality industry in which hotel Ritz Carlton has been selected which is one of the largest hotels in UK economy. Furthermore the role and influence of EU and its impact on business and service industry has been mentioned. Along with this, the role of pressure groups and their political influence in relation to national and local issues on hospitality industry has been stated. Despite such aspects, differences between English and Scottish system is also discussed which has been informing about the economic prosperity of the entire country (Kourteli, 2000). The legal and other policies of EU have been impacting hotel Ritz Carlton from local and national perspectives. In order to be a legal entity, it is crucial for the hotel to integrate with legal obligations in both the formation and dissolution cases. Analyze the structure and processes which determine responsibilities and control within registered company.

TASK 1 STRUCTURE AND OPERATION OF UK ECONOMY Britain is considered as the first country that started industrial revolution in 18th century and it is also called as capitalist country. The characteristics of the economic system of capitalism are that it protects private enterprises. Due to growing economic condition of UK, changes are taking place in the flow of resources and apart from that Britain began its market economy about 300 years ago. UK is also the 6th largest in the world economy and it is a member of the European Union (Capon, 2009). However on the other side, the economy faced global crisis in the year 2008 and the situation of recession was about to come. The population of the economy has been increasing from past many years and out of the total population, the major are the senior citizens. Today the economic prosperity of UK has been increasing and under which agriculture is the only sector which has been contributing around 0.7% in UK GDP. The ratio Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

was same till the year 2012; but changes occurred in the present scenario due to dominant component of the UKâ&#x20AC;&#x2122;s economy (New EU legal framework for accreditation, n.d).

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From many cases, it has been observed that hospitality industry in UK has employed more than 4 million people in different business functions. UK economy operates in free market economy and the exchange rate also floats from diverse perspectives which lead to high level of immigration (Todd, 2013). The major factors that enhance the economic prosperity of UK are education, population, effective commercial businesses and competent health and social care services. The ruling bodies of UK have been executing many changes in taxes and other regulatory policies for determining restriction free trade (Allen and Raynor, 2004). European Union has established numerous sorts of tax policies for different business types that help in increasing rate of GDP. Similar to other businesses, the rate of taxes are also different as per the income level of citizens and hence its plays crucial role in economic development. All the citizens are required to contribute some amount in national income so that the degree of

economic prosperity can be encouraged (Rauch, 2013). The ratio of supply and demand can be managed with the help of economic conditions. The economic structure of mixed market is critical and that also affects market scenario from different aspects. It is considered as an economic system in which both private sector and state directs the economy with numerous regulations specified by market and planned economies. The structure of the economy helps business entities to be at market place by owing privately towards economic dominance. Here central bank plays crucial role in determining the exchange rate since government is specifically involved in decision making process. Mixed economy functions through private enterprise as well as Government and hence Government interferes with or regulates the private enterprise in various ways.

TASK 2 ANALYSIS OF CURRENT GOVERNMENT ECONOMIC POLICY ALONG WITH ITS EFFECT ON BUSINESS

There are numerous policies in UK government that has been changing the scenario of all sorts of industries and apart from this; it also changes the ratio of flow of money. Numerous fiscal and monetary policies are been applicable in the country that further impacts tax and other policies. On the basis of income and GDP ratio, the percentage of tax can be determined. The government is also focused towards the purchasing power of customers so as to determine the degree of supply and demand (Gani, 2011). Monetary policy is being developed so as to maintain the flow of resources in adequate manner. It is being determined by setting independent interest rates but at the same time it aids government to meet inflation target. Hence through this, the economic policy of UK is able to manage ratio of expenditure such as salaries, infrastructure and other nominal expenses. The regulatory body of UK has been generating income and revenue from the sole source that is in the form of taxes and subsidies. In response to this, service industries of UK have transformed the way of managing business that is- it has introduced many opportunities for enhancing earning capability. The ratios of taxes have been changing which improves standard of livelihood (Fernando, 2011).

People who have been working from many years have been looking for more opportunities so that they can enhance standard of living. In order to reduce the degree of post tax income, the government has been augmenting the level of direct income (Allen and Raynor, 2004). The economic policies of UK assist the country to generate many profits and they are even integrated with legal framework. At the time of changing economic practices, some of the businesses find it difficult to change business activities and this also impacts business regulations.

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Kindly Mail us at: help@instantessaywriting.com The productivity factor of the company can be enhanced with the help of managing business operations effectively and this has been possible due to monetary and fiscal policies. In order to manage banking and other regulatory aspects, the government of UK has been changing the way of delegating money in terms of financial facets (Goyal and Goyal, 2002). Fiscal policy is related to direct changes in the economy due to influence of economic activity though changing taxation Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

and government spending. On the other side in UK, central Bank and integral bodies of NBHS regulates flow of money. Hence due to such changes, Ritz Carlton may have to change the pricing strategies as per the purchasing power of customers. Fiscal policy is governmentâ&#x20AC;&#x2122;s decisions regarding spending and taxing and thus these changes the scenario of trade and expenditure. If government wishes to stimulate growth in the economy, it will increase spending of goods and services and at the same time, this will also increase demand for goods and services. Hence the policy possesses optimistic impact on business entities since this helps them to acquire benefits by supplying more products and services. On the other side, monetary policy is a decision of government regarded with money supply and interest rate. This is basis of peopleâ&#x20AC;&#x2122;s spending on goods and services. Business is able to acquire huge profits if the aspects of monetary policy remain constant.

TASK 3 INCOME, WEALTH, EMPLOYMENT AND OCCUPATIONAL DISTRIBUTION TO PROVISION OF SERVICE

Economic prosperity as well the rate of GDP has been increasing due to contribution of travel and tourism sector and this also increases the value of nation in other markets. In the subsequent research, the hotel taken is Ritz Carlton which promotes the standard of services through adequate modes and tools. The hotel has maintained pricing and other standards for becoming competitive. The expenditure ratio of hotel has been changing due to the category and variety of services (Jain and et.al., 2002). This is also the other factor that generates employment opportunities in the nation and at the same time, it also enhances efficacy of hospitality industry. The ratio of prosperity has been generating due to different employment opportunities. From past many years, hospitality industry is the considered as the largest contributor of employment opportunities. Hospitality industry has been serving different types of services which increase the employment possibilities. In service industry, most of the candidates prefer to get office working jobs since it does not require any type of effort. The hotel industry is able to give appropriate services to the customers so that opportunities of business proposition can be encouraged. The Equal Opportunity Act is being followed by the company so that equal pay can be given to all the employees at the hotel. The Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

probabilities of wealth maximization are higher and at the same time, it increases profitability aspects of the industry. Moreover employees are also provided with training and coaching sessions for contributing in the achievement of goals and objectives (Kew and Stredwick, 2005). Demand for hospitality services has been increasing due to the efficient services which Marriott has been providing. The industry is highly focused towards innovation and creativity for meeting the demands and expectations of customers. The industry is also experiencing many problems due to changing social factors since it alters business and market decisions frequently. Hospitality industry is comprised of several amenities such as food and beverages, accommodation and travel & tourism, all such activities needs to be integrated with service users and providers both (Mason, 2007).

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Income can be defined as a sum of money that individual gets against the work done by him in an organization. Sometimes, organization faces issues related to the term income due to inequality and discrimination in the aspect. In hospitality industry, the distribution of income and wealth is on fair basis this also aids in generating growth possibilities of business up to higher extent. The top management at the hotel is accountable to deliver payment to the workforces and Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

he must consider actual facts about equal distribution of resources. In many cases, it has been seen that hotel industry discriminates employees from several grounds and this affects their employment patterns.

TASK 4 ASSESSMENT OF DEMOGRAPHIC TRENDS THAT HAS INFLUENCED EMPLOYMENT PATTERN

Continuous changes are prevailing in employment patterns due to demographic factors, the factors that lead to employment situation. Demographic factor is concerned with customers and other factors that directly impacts business decisions. Demographic patterns can change employment patterns in hospitality industry as due to the efficiency of people; changes are prevailing in employment courses. People preference has been changing and this also alters their way of working which leads to changes in demand of services. Hotels of UK are considered as the most competent industry that generates many opportunities of growth and success and at the same time it develops need for diverse amenities (Pizam, 2010). The younger generation of UK market emphasizes on innovative services; therefore hospitality industry prefers to employ them so enhancing the degree of competitive services. Changes in social factors changes the way of service delivery and similarly it also results in customer retention. This leads the hospitality industry to introduce many changes in employment patterns and similarly it can also be called as effective. The level of income distribution has been changing as per the standard of people and this in turn also facilitates adequate employment opportunities. In hotel Ritz Carlton, it has been observed that employees who have low income level searches for diverse opportunities since they wish to fulfill needs and demands (Shaikh, 2010). The hotel has been trying to retain employees for longer period by providing them different types of opportunities and benefits. Similarly the hotel also generates employment options as per the level of education and as per the standard of job role. Sometimes the preference of job changes if the candidate is not able to meet the specification of terms of employment. Hence from the above discussion, it is clear that demographic aspects can affect employment patterns. Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

Hospitality industry has been getting impacted through numerous trends prevailing in demographic aspects; however up to some extent this is also encouraging the hotel to give essential and appropriate services to the customers. For instance- currently the trend of online shopping, banking and online information availability has changed entire scenario of business practices. This has helped the hotel to make the premises WiFi so that customer can access information about anything they desire to buy. As per the demographic factors such as income and gender, hotel industry is making specific changes in product line. For example- luxury services has been added in hospitality industry for higher class people.

TASK 5 ANALYSIS OF SOCIAL STRUCTURE OF PEOPLE EMPLOYED AT RITZ CARLTON In order to remain at the market place, it is crucial for the hotel industry to manage social relationships with the customers since it also encourages possibilities of growth and success (Rauch, 2013). And as a result, hotel Ritz Carlton has been deriving long term sustainability and competitive advantage alongside, effective market share. Social relationship can exist between employer and employee, customer and employer and business with society. For the development of business, it is essential for the hotel to develop competent and long term relationships with the customers which also works in customer satisfaction. On the other hand, employees of the hotel are also emphasizing on building cordial relationships so that work processes can be managed adequately (Allen and Raynor, 2004). Employees of the organization has been emphasizing on diverse services so as to build adequate relationships with the customers. The degree of profitability has been increasing due to the reason that services of Ritz Carlton are effective enough that it captures attention of customers. In order to develop cordial relationships with the clients, numerous amenities are given by the hotel management. Ritz Carlton has been emphasizing on enhancing the quality of services through guiding and training the employees towards best services. The employees are also guided to build up sustainable relationships with the customers for enhancing the degree of customer loyalty. In terms of relationship, hospitality industry has been inviting opinion and views of employees so that innovative and adequate decision can be made (BlaĹževic and JeluĹĄic, 2006). Prominent Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

amount of focus is being given to the customers of Ritz Carlton which further reduces possibilities of customer complaints. The hotel is also able to enhance the degree of customer satisfaction with the innovative category of products and services. Some of the employees are provided with additional benefits so that word of mouth publicity can be facilitated. Hence social structure contributes management to enhance profit as well as sustainability aspects through innovative business prospects.

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Kindly Mail us at: help@instantessaywriting.com As apparent, hospitality industry is one of the fastest growing sectors due to contact with number of potential clients of business in different countries. Thus it is essential for the hotel to employ only talented and qualified work pool so as to deliver prominent services to the clients. The subsequent hotel has been selecting only requisite and educated people so that better communication can be developed with the clients. It is seen in many cases that people in hospitality industry that directly comes in contact with the customersâ&#x20AC;&#x2122; needs to emphasize more on developing quality skills which in turn also results in customer retention. People at hospitality industry should be involved only in ethical and legal practices so that customers can be protected from cheating and other issues.

TASK 6 STRUCTURE, OPERATIONS AND INFLUENCE OF LOCAL GOVERNMENT ON RITZ CARLTON Municipal as well as local government both has been affecting practices of hotel from different grounds. Local government priory emphasizes on local business entities so that MNC may not impact marketing and other decision of business. All the hotels of UK hospitality industry have been changing their policies and strategies in which they have to consider direct and indirect impact of competition on local market. The local authority of the business has been emphasizing on different tier systems so that political scenario can be changed (Gani, 2011). The categories of local council are Country councils, district councils, unitary authorities, metropolitan districts and London boroughs that alter business operations along with organizational structure. This also restricts many of the industries in the case of international trade. Political bodies have been influencing the terms and conditions of business and at the same time, it directs local government to change monitoring and other processes. Local government changes terms and conditions of business and hence this also makes favorable changes in hospitality structure. The rules and norms of government have been changing as per the effectiveness of hospitality industry. Earlier it has been seen that most of the hospitality organization involves in unethical and illegal practices for undue profits and advantages (Gestel and Nyberg, 2009). In order to reduce this aspect, government has introduced many new reforms which are mandatory to follow and which also directs management to get involved only in ethical and adequate services. Through this, Ritz Carlton has made many changes in existing business operations where in promotion, selling and advertising the services is directly integrated with legal and ethical practices. The local government has been posing threats to hospitality industry since it is greatly concerned with environmental aspects. In current era, government has raised its focus on environment protection and hence hospitality industry is guided to consider the same. Issues related to cleanliness have been increasing and this leads the hotel to develop more concern towards making the place clean and clear. The industry critically faces range of issues related to cultural aspects as it is also essential for the hotel to maintain interest of customers by Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

emphasizing on their values and beliefs. The hotel needs to integrate the services with economic aspects so that business can be sustained at market place.

TASK 7 EVALUATION OF ROLE AND INFLUENCE OF EU ALONG WITH ITS IMPACT ON BUSINESS

Here is the list of all those policies which EU has prepared for the purpose of stating influence of EU on business practices. Some firms change their processes as per the economy alterations. Thus to study the impacts, detailed description of different EU is requisite to showcase. For example- regional policy has been made with the purpose of enhancing economic capacity of those areas that requires government support for enhancing the ratio of employment. In order to facilitate development in the economy, such policy has been introduced and along with this, it also plays crucial role in achieving the pre determined standards. This also reduces the impacts that government policy pays on subsequent economy. However on the other side, international policy has been developed for improving the rules and norms for export and import. EU policy defines some norms and at the same time, it also defines the way to manage barriers in international trade (Jackson, Cunningham and Dutton, 2001). Thus with the help of international policy, Ritz Carlton can persuade customers of different markets. This can also result in maintenance of corporate relationships with other clients. Through this, opportunities of growth and prosperity can be augmented. Monetary Policy Commission can assist Ritz Carlton to manage pricing strategies and this is also useful in acquiring inflation targets. Through this, potential customers can be retained and hence this can boost the opportunities of business sustainability. Employment policy is also useful for Ritz since through this, varied types of employment patterns can be generated (Gani, 2011). Hence from the description, it is clear that with the help of different EU policies, employment opportunities can be encouraged. EU has made several policies related to free movement of goods and services and amendment on using business labor and capital. With the help of policies of European Union, it is easy for the organizations to trade freely within the country and that also maximizes the opportunity of growth and success. Hence from the discussion, it is clear that the regulations Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

under EU are beneficial in terms of trade and this is can also develop possibilities of business expansion.

TASK 8 ASSESS ROLES OF PRESSURE GROUP AND THEIR POLITICAL INFLUENCE ON ISSUES

Influence from pressure group and from political parties is contrary to each other as both are involved in the formulation of different policies and strategies. Pressure groups in UK bring blight in democracy as the existence of pressure group means that there is a channel of easy access where problems of organizations and citizens can be raised. Pressure groups can be classified into varied ways and the overarching definition of a pressure group is like minded individuals that seek to government influence (Jamali, Khoury and Sahyoun, 2006). In UK economy, pressure group emphasizes on developing environmental efforts. Hence all the companies in different sectors are directed to conserve energy resources for developing efficacy of natural resources. The government has also build up many reforms where in organizations need to consider environment issues which can also lead to changes in business processes. There are numerous modes through which Ritz has been creating awareness amid people for the protection of natural resources. Pressure groups also release efforts on stakeholder management and for that business has to operate activities in ethical and legal manner (Pizam, 2010). In response to pressure groups, Ritz has started developing efforts on environment protection through the means of reducing wastages of resources. All the organizations have been adversely affected from issues of pollution; therefore activities that create pollution are fewer to some extent.

These are some of the potential impacts which have been influencing Ritz Carlton hotel as well as other firms. Pressure group also analyzes if the organizations in UK economy are focused towards legal framework. It identifies the myriad of methods that is directly integrated with policies and issues of bureaucrats (Kourteli, 2000). Pressure group is too powerful as its sets different committees so as to fulfill the function of supporting election candidates financially. However on the other side, Small Scale pressure groups with little funding find it extremely difficult to operate this within the context of political influence.

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TASK 9 LEGAL FRAMEWORKS WITHIN UK ALONG WITH DIFFERENCE BETWEEN ENGLISH AND SCOTTISH SYSTEM There are three different legal systems in the UK (Scotland, Northern Ireland, England & Wales) and the UK Parliament enacts statue for all the regions apart from Scotland. The legal framework of EU covers the operation of accreditation in support of voluntary conformity assessment requisite by legislation. England and Wales covers two basic types of court which are being mentioned as under: Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

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Civil courts: Under civil court, magistrate court is considered as the only civil jurisdiction which emphasizes on adoption, guardianship and child welfare. It also has county court where in each court is known as small claims court which has its own geographical zone and it basically deals with personal injury (Scottish legal system, n.d). However the high court performs both civil and criminal functions. Queen bench deals with actions that are related to contract or tort and on the other side; family division covers cases of divorce and adoption.

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Criminal courts: Magistrate court considers only criminal cases and it tries to end the process through detailed analysis. If the magistrate believes that the seriousness of the offence warrants a longer sentence than the criminal court here can delegate the case to Crown court (Kew and Stredwick, 2005). Crown case is a judge and jury that normally consider serious crimes such as murder, rape, grievous bodily harm etc.

In order to comprehend differences between Scottish and English System, some examples are stated here. In England, there is a well developed code which applies to commercial leasing based on the Landlord and Tenant Act; however in Scotland there has been very little statutory intervention. Scotland is a member of third aspect of British Law and is known as a mixed system since it is influenced by both civil and common law and has characteristics of both approaches (Rauch, 2013). The laws made by European Union apply in the same way to Scotland as well and it does to England by virtue of Scotlandâ&#x20AC;&#x2122;s position as a constituent of the UK. The courts are also other source of law in Scotland; however the doctrine of judicial precedent operates within the hierarchy pyramid of courts. The age of capacity is also different in English and Scottish system since The Age of Legal Capacity (Scotland) Act 1991 is an Act of Parliament applicable only in Scotland which has actually replaced the pre existing rule of pupilage and minority with the simple rule that a person can get full legal capacity at the age of 16. However contrary, the Scottish age of capacity earlier was 21 and now it has reduced to 18 under the age of majority Scotland act 1969. Hence the introduction of age legal capacity has replaced previously formed rules and the regime of 16 (legal capacity) have also changed furthermore. Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Mass Communication Essay Writing Service by the expert writers of Instant Essay Writing, we provide top notch quality academic writing services to students.

TASK 10 EVALUATION OF UK AND EU LEGISLATIVE PROCESS AT NATIONAL AND LOCAL LEVEL

In UK, evaluations are conducted primarily by the European Commission and they develop several amendments for code of conducts. Evaluations are even conducted under the mandate of political body or within a specific parliamentary committee. The government bodies also posses several types of assistance to firms such as technological and scientific assonance and that also impacts legal framework of businesses and firms (Policy and legislative evaluation in the EU, 2013). The legal process of UK is comprised of several elements that produce different patterns and code of conduct as well. The organizations working in UK are also bound to maintain legal processes in which all the legal laws and frameworks are must to consider. There are some differences in national and local level which are mandatory to consider since that makes firms legal entity. The government has also made it compulsory in which, the companies are required to specify all aspects in auditing process for transparency management. As per the evaluation of legal processes of EU, the commission recently enhanced the role of stakeholders in which they should be provided with transparent evaluation process since they are the major contributors in companyâ&#x20AC;&#x2122;s processes (New EU legal framework for accreditation, n.d). European Union and the norms direct the organizations to use scare resources in adequate manner and the company should develop trust amid employees and customers for showcasing legal framework. European Commission also directs the service industry to adopt some principles such as openness, participation, accountability, effectiveness and coherence of EU governance. All the regulatory policies in UK are different and this has been helping the businesses to protect the interest of employees for longer period. EU has specified working hours for employees and under that every employee is accountable to get extra payment if he has done extra work other than the specified hours. However instead of that working hours are specified to 8 hours which is mandatory for all to consider. Some regulations have also been considered such as minors are not allowed to buy alcohol and cigarettes since it is legally against the age capacity

act. Under the fiscal policy, government is allowed to spend resources in increasing demand and supply aspects.

TASK 11 DIFFERENT TYPES AND CHARACTERISTICS OF BUSINESS OPERATES IN HOSPITALITY SECTOR

The grouping of business can be divided into different manners and according to that, it also categorizes their services. Some examples of businesses are retail businesses, hospitality businesses, health and social care sector and commercial business (Capon, 2009). The categories of business activities can be specified as per the purpose; since the present case is stating about hospitality industry; therefore description about services of Ritz Carlton hotel has been stated. Being a largest hotel of UK, Ritz is involved in different types of business activities such as: ď&#x201A;ˇ

Housekeeping: Hospitality industry is mainly involved in appropriate recreational and relaxation services which need to be carried in adequate manner. All the hotels are required to consider housekeeping services in which they take care about cleanliness and other hygienic factors for safety and security of guests. Housekeeping services are mainly related to cleanliness and for that proper guidelines are required to develop so that customer satisfaction can be encouraged (Rauch, 2013).

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Food and Beverages: In hospitality industry, F&B reigns supreme and it is also the largest element of hospitality industry. Food and Beverage on the other side is also the other form of customer satisfaction as travel and tourism sector is majorly concerned with enjoying different types of cuisines and food types. It includes bars, restaurants and other catering services. It is also considered as a basic element for which guest visits different types of hotels.

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Accommodation: Hospitality industry is concerned with luxury services and that can be provided by offering all sorts of services. Ritz Carlton hotel is involved luxury services; therefore accommodation comes on first priority. Hotels, beds and breakfast and other places that offer lodging represent a broad segment of the hospitality industry. Thus simply, it is essential for the hotels to deliver several sorts of amenities so that customers can be retained (Mason, 2007).

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Travel and tourism: The entire services of hospitality industry are integrated with travel and tourism all the activities are common in both the sectors. Thus another chief segment of hospitality industry encompasses transportation. This includes airline, trains, cruise and ships. Travel and tourism requires knowledgeable employees so that they can guide all about places in specific destination (Hall, 2013).

Different types of organization are stated as under: 

Sole trader: It is the type of business where the owner is the single entity that manages entire business functions and he alones enjoys all sorts of profits and losses. At the same time, he has to take critical decisions for managing business resources.

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Private limited organization: The firm that lies under this category manages business under private bodies and here the influence of government is limited.

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Public limited company: Public limited company is owned and managed by the shareholders or by government and here the business has to consider public interest up to higher extent. Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com

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Cooperatives: These are the types of business firms that majorly does not work for profit maximization as the main aim of such cooperatives is to sell products and services to customers without adding much profit margin.

TASK 12 LEGAL PROCESSES FOR FORMATION AND DISSOLUTION OF REGISTERED COMPANY

Apparently formation as well as dissolution of companies both the processes needs to be legally integrated since it is mandatory in legal framework (Jamali, Khoury and Sahyoun, 2006). Necessities that should be included in formation process of the company are specified as under: 

Registering the business: After planning for the establishment of business, it is crucial for the business owner to register the company under legal authority. The process is cheaper and straightforward. Here information about all the stakeholders as well as capital invested is required to include.

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A limited company: It is imperative to create a legal entity and for that business must specify the type of business such as Sole Trader, Partnership, Limited Liability Partnership, PLC. Through this, company can typically transit business affairs to set appropriate process (INTRODUCTION TO THE LEGAL FRAMEWORK, n.d).

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Information about the company: Every organization can become a legal entity if states information about capital invested, name of shareholders and stakeholders etc. This comes to an important decision where business must specify itself with a name.

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Shareholders, directors and stakeholders: While forming the company, it is mandatory to state who the board members of the firm are and what will be their profit and loss sharing ratio (How to: register a company in the UK, 2012).

However in case of dissolution, specific legal formalities should be fulfilled under Section 1003 of the Companies Act 2006 (Gestel and Nyberg, 2009). The business who wants to get dissolved needs to meet following requirements: 

Final auditing of the reports: Conduction of final auditing is required as that only specifies that business is unable to operate in future time period. Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com

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Address business debts: While dissolution, it is essential to specify debts and liabilities so that assets can be sold out for paying the amount of debts. Legal framework of UK states that business has to recover debts before dissolution (How to close company, 2012).

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Mutual consent of all shareholders: All the shareholders must be informed about the dissolution and the process cannot be called as complete if it does not have share holder’s concern.

TASK 13 ANALYSIS OF STRUCTURE AND PROCESS USED TO DETERMINE RESPONSIBILITIES AND CONTROL WITHIN REGISTERED COMPANY

All the processes of business must be legally concerned and under all actions, they should conduct activities in appropriate manner. All the businesses must involve share and stakeholders as they are the important parts of organization (Blaževic and Jelušic, 2006). The top management is also required to manage ethical and legal entity in business processes for becoming legal entity. In order to operate business smoothly, it is requisite to set vision, mission and objective and all that should be communicated adequately within the organizational members. The businesses are also directed to undertake adequate decision making process and that should be transparent so that legal framework can be maintained (Todd, 2013). Legal framework of EU also directs code of conducts and according to that, legal processes can be managed. As per the legal laws, it is essential for the companies to consider interest of all stakeholders so that business growth and success opportunities can be maintained. Apart from such concerns, it is also crucial to plan and prepare everything for business management.

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Online Hall, S., 2013. The Implications of Fiscal Policy and Monetary Policy to Business. [Online]. Available through: <http://www.ehow.com/facts_6899691_implications-policy-monetarypolicy-business.html>. [Accessed on 19 November 2014].

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