Microeconomic concepts (LEVEL 4) Assignment Example | Topics and Well Written Essays - 1500 words

Microeconomic concepts (LEVEL 4) - Assignment Example The company operates 35 holiday parks and provides a wide range of holiday services such as bars and restaurants, sporting facilities, gaming activities and holiday resorts. Some of the internal factors that have made the organisation expand its market share include superior customer services, modern physical facilities, aggressive marketing efforts, excellent management leadership style and flat organisational structure. The company is geared at achieving its mission and strategic objectives. The external factors affecting the organisation include harsh economic environment, changes in technology, social environment changes, natural environmental protection issues and strict legal and regulatory framework. The company market structure is pure competition due to many competitors in the industry and availability of numerous substitutes. The company should differentiate the services, offer superior added services and extend the product portfolio in order to attain market leadership pos ition in the industry ((Tribe 2005, 176). Introduction Haven family Holidays is a tourism company that operates 35 holiday parks in the United Kingdom (Haven family Holidays 2012). The company boosts of the best facilities for the guests in camping and accommodation. Some services include sports clubs, live entertainment for guests and child-friendly venues and activities for kids. Additional activities include swimming programs, football and basket ball coaching (Haven family Holidays 2012). Business objectives Haven family holidays provide three specific types of holidays that include self-catering, caravan and camping and half-board. The company is the largest provider of domestic holidays in UK with recreational parks spread across England. Some of the products offered include luxurious holiday resorts, sporting facilities, corporate conference facilities, and meals (Haven family Holidays 2012). The objectives of Haven family holidays include growing the profits of the company e ach year in order to provide guests with additional value added services. Another objective is to ensure and environment whereby resources are utilized effectively and employee welfare is maintained through fulfilling jobs (Haven family Holidays 2012). Haven Family Holidays is also committed to providing holiday resort services in a safe, secure and environmentally-friendly manner in order to improve the attractions to the holiday resorts (Haven family Holidays 2012). Internal factors affecting Haven family holidays The internal environment consists of factors that are within the management control. Any business organization can alter the internal factors in order to attain competitive strength in the industry. I believe that some of the internal factors affecting Haven Family Holidays include human resources, physical facilities, the leadership capability, the mission and objectives of the organization, the corporate culture, the marketing activities, customer loyalty, the organiza tional structure and research and development activities. Haven Family Holidays attracts and retains qualified personnel in all business processes. In my

Traits Approach to Explaining Entrepreneurship Essay

Traits Approach to Explaining Entrepreneurship - Essay Example Entrepreneurship is not a simple phenomenon and not every individual is viable to become an entrepreneur. For any meaningful research to result, psychological approaches in the future studies of entrepreneurship need to carefully examine the personality variables being studied (Frese 2000) There are several traits that those successful entrepreneurs possess that make them outstanding in the entrepreneurial world. These traits include even the personality or psychological ones. Personality traits are those traits that define an individual in terms of what he does and how he undertakes different tasks when faced by some situation. That is how an individual thinks and behave in different situations. Entrepreneurship can be studied from different perspectives since it is a very wide topic of discussion and needs critical assessment to understand. From a personality view of study, entrepreneurship is an interesting area of study. One of the most significant traits that is fundamental in e ntrepreneurship is integrity. Integrity refers to the act of being honest to all the parties involved in entrepreneurship. ... These regulations include the tax policies of a government. An entrepreneur is obliged to pay the tax dues as required by law and successful entrepreneurs know that for his idea to thrive and to ensure solvency for his entity, he or she must honor his tax obligations at all times. Another party involved is the suppliers. The entrepreneur must honor them by treating their creditors with respect and honoring their dues, keeping promises in terms of paying them in time and the agreed amounts. Employees are key players in entrepreneurship and therefore should be taken for granted. The entrepreneur should know this and give them maximum respect at take their interests at heart when making his entrepreneurial decisions. The most important individuals that are most vital to an entrepreneur are the customers. These are the main reason will determine whether an entrepreneur will fail in his entrepreneurial endeavors or fail. An entrepreneur must express some business ethics in dealing with hi s customers. This is a trait that happens to be so important that without it, one is bound to fail. Being an honest and integral individual in entrepreneurship motivates the employees to follow the example and avoid unethical behaviors such as engaging in fraud or corruption. These acts are dangerous to the existence of a business entity. Integrity is not just a policy, but researchers have clearly shown that it is the only policy in running a business entity. Perseverance is another personal trait that is equally important in entrepreneurship. An entrepreneur is bound to go through a lot of challenges before implementing his idea. There is no one defined way to successful entrepreneurship. The economic