...What is a Reservations Sales Agent? A Reservations Sales Agent processes customer enquiries and bookings for travel arrangements including airline tickets, coach bookings, accommodation, day tours, car-hire, transfers and travel insurance. They usually work over the telephone or on-line and occasionally face to face depending on the company. What does a Reservations Sales Agent do? The agent processes customer bookings and answers customer enquiries over the phone and on-line. All bookings (or reservations) then go into a computer reservations system. A Reservations Sales Agent needs to ask and answer questions to ensure their customers get what they are looking for. It is important that a Reservations Sales Agent has comprehensive product information about what they are selling in order to answer customer enquiries accurately. What does it take to be successful? A love of dealing with people, good listening skills, attention to detail and accuracy. The Reservations Sales Agent needs to be able to work at a fast pace as they will often find reservations roles are located in call centres with large numbers of phone calls on hold with clients awaiting your help. What is the Travel Agencies Industry? This industry includes businesses that sell, book and arrange travel, tour and accommodation services for the general public and commercial clients. The industry also encompasses companies primarily engaged in providing travel arrangement and reservation services, including...
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...in accounting Ethics as an Accountant The main objective of this proposal is to gain insight into the unethical accounting practices of major corporations (with a majority of the focus on Enron, WorldCom, Tyco, and Adelphia) and ultimately exposing the true perpetrators behind these scandals (the CEO's) in an effort to restore credibility in the once revered accounting profession. Many of the people responsible of these crimes are enjoying retirement in lavish homes while receiving ludicrous pension plans and company benefits at the expense of investors. If they are not brought to justice, they will realize they can get away with this sort of behavior, and the prevalence of unethical behavior will continue to rise. Research Question Are the accountants truly responsible for the fraudulent claims companies are making these days, or are they simply pressured by their bosses to fabricate figures that enhance the image of the company's profitability and fill the CEO's greedy pockets? Literature Review In the past 5 years, a plethora of articles and books have been released, dealing with ethical business practices. Balancing the books: The crooked E, is an article by Anita Peltonen, which examines Enron's practice of kiting (Illegally benefiting from altering the amount of money or time represented by checks that are in transit between deposit and payment, or credit card purchases that are between the purchase and the payment. For example by depositing and drawing...
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...and aims at achieving disciplined growth (see Exhibit 1).1 However, in the recent years, JetBlue appears to be moving away from its core strategy, in quite interesting ways, of being a low-cost player providing the distinctive ―JetBlue experience.‖ In its efforts to boost revenues, the airline began charging $10 to $20 for seats with extra legroom, doubled its ticket-change fee to $100, and introduced refundable tickets that cost more than nonrefundable ones. Further, the airline began charging $7 for a pillow-and-blanket kit, an amenity usually provided free of charge by other airlines.2 Breaking another low-cost rule, JetBlue moved away from ticket sales through its own Web site and signed up with travel agencies and the Galileo and Sabre global distribution systems in August 2006 and with online travel agencies such as Orbitz in January 2008. Further, it sold approximately 42.6 million shares of common stock to Deutsche Lufthansa, the German carrier, in January 2008 which indicates a move away from its ‗growing alone‘ strategy3 and also forged an interline agreement with Virgin Atlantic. With the interline agreement, passengers on JetBlue will be able to connect through Boston, New York, Washington to catch flights to London Heathrow on Virgin Atlantic. JetBlue customers connecting in Orlando will be able to fly to London's Gatwick...
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...Information & Management 41 (2004) 805–825 eAirlines: strategic and tactical use of ICTs in the airline industry Dimitrios Buhalis* Centre for eTourism Research (CeTR), School of Management, University of Surrey, Guildford, England GU2 7XH, UK Received 16 June 2002; received in revised form 26 April 2003; accepted 6 August 2003 Available online 13 November 2003 Abstract Information Communication Technologies (ICTs) have revolutionised the entire business world. The airline industry in particular has fostered a dependency on technology for their operational and strategic management. Airlines were early adopters of ICTs and have a long history of technological innovation, in comparison to many other travel and tourism businesses. This paper discusses comprehensive research, including exploratory research with airline executives, using qualitative methods to examine the use of ICTs in the contemporary airline industry and to discuss recent developments in the industry. The work demonstrated that the airline industry was using the Internet to improve its distribution strategy and reduce costs; it also used Intranets and internal systems to develop tactical and strategic management. In addition, Extranets were being gradually used for communicating with partners and to support business-to-business (B2B) relationships. The effort demonstrated that ICTs will be critical for the strategic and operational management of airlines and will directly affect the future competitiveness...
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...Pizza Hut Durand D’Silva Alex Evans Armando Perez Frank Rivero Kevin Speakman Table of Contents Executive Summary 3 Product Place Promotion Pricing Executive Summary Pizza Hut’s headquarters is located in Dallas, Texas. Pizza Hut is a multinational company which operates in the United States, Philippines, Malaysia, and 83 other countries. Overall, Pizza Hut has almost 13,400 restaurants-including 7,800 units in the United States and more than 5,500 outside of the United States. Pizza Hut has built a reputation for excellence that has earned the respects of consumers and industry experts. Pizza Hut is considered a quick service restaurant (QSR) and is a division of Yum Brands! Which operates the fast food restaurants, as well as KFC and Taco Bell. Pizza Hut’s began in 1958 when a couple of entrepreneurs came up with their vision. “Two brothers, mom, and $600 turned into the recipe for the world’s largest pizza company in 1958, when a family friend with the idea of opening a pizza parlor approached two college-age brothers in Kansas.” Pizza Hut is not only the acknowledged leader of the pizza industry worldwide, but it is also amongst the top of the world’s largest pizza chains, with over 12,000 restaurants across a mass variety of countries, employing more than 300,000 people, and serving 1.7 million pizzas every day to more than seven...
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...9B15C008 Robert Way wrote this case under the supervision of Professor Gerard Seijts and Professor Jean-Louis Schaan solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G 0N1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Copyright © 2015, Richard Ivey School of Business Foundation Version: 2015-05-22 In early 2014, Ferio Pugliese looked back on his turbulent first nine months as president of WestJet Airlines Ltd.’s (WestJet) new regional air service Encore. Officially launched in Western Canada in June 2013, this venture represented the company’s most significant organizational change in its 18 years of dramatic growth and was billed as WestJet’s “second coming” — hence, the chosen name Encore. The process of expanding the airline’s fleet to include smaller, short-haul aircraft servicing smaller destinations throughout...
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...booking travel. Named the top travel company on Travel Weekly’s 2013 Power List, Expedia, Inc. delivers consumers value in leisure and business travel, drives incremental demand and direct bookings to travel suppliers, and provides advertisers the opportunity to reach a highly valuable audience of in-market travel consumers, in addition to powering bookings for some of the world’s leading airlines and hotels, top consumer brands, high traffic websites, and thousands of active affiliates. The company is headquartered in Bellevue, Washington, with additional operations in nearly 70 offices across the globe. For additional corporate industry news and views, follow us on Twitter @expediainc. Expedia, Inc. is a publicly-traded company listed under the ticker symbol EXPE on the NASDAQ Global Market. Expedia is an Internet-based travel website company headquartered in Bellevue, WA, Austria, Belgium, Canada, Denmark, France, Germany, Indonesia, India, Ireland, Italy, Japan, SouthKorea, Malaysia, Mexico,Netherlands, NewZealand, Norway, Philippines, Singapore, Spain, Sweden, Thailand, UK, US). Created by Rich Barton and Lloyd Frink. It books airline tickets, hotel reservations, car rentals, cruises, vacation packages and various attractions and services via theWorld Wide Web and telephone travel agents. The site uses multiple global distribution systems like Amadeus or the Sabre reservation systems for flights and for hotels, Worldspan and Pegasus, along with its own hotel reservation system...
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...limitations of an audit. 11 j. Responsibility of Auditors to Third Parties – Case Law 12 k. International, Assurance Auditing, Standards Board (IAASB) 14 CORPORATE FRAUD CASES 16 CASE STUDY: 21 CONCLUSIONS………………………………………………………………………………24 REFERENCES……………………………………………………………………………..….25 SUMMARY OF TERMS ISA: International standards of Audit KPC: Kenya Pipeline Company IAASB: International Assurance Audit Board IFAC: International Federation of Accounting USD: United States Dollar KCB: Kenya Commercial Bank BCCI: Bank of Credit International SEC: Securities and Exchange Commission ABSTRACT The way in which auditors perform their duties and the auditing profession in general raises questions and puts the auditors on the spotlight from clients who rely on their reports. Questions on whether the public trust the way auditors perform their secondary duty of detecting errors and frauds, the reliability, completeness and accuracy of their auditing reports have been raised. The research focuses on; Management and auditors’ responsibility for its prevention and detection of fraud, the auditor’s responsibility for reporting fraud to management. The primary responsibility for prevention and detection of errors and irregularities rests with management. This responsibility arises out of a contractual duty of...
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...ETIHAD AIRWAYS Assignment I Contents INTRODUCTION 2 BACKGROUND 3 ETIHAD’S CORE VALUES 4 COMMITMENT 4 VISION AND MISSION 5 HISTORY 6 LOYALTY PROGRAM 6 FINANCIAL PERFORMANCE 9 FINANCIAL POSITION 9 FINANCING ACTIVITIES 11 EXTERNAL ENVIRONMENT 11 GENERAL ENVIRONMENT 12 EXTERNAL ENVIRONMENT ANALYSIS 41 INDUSTRY ENVIRONMENT ANALYSIS 44 1. Porter's 5 forces model 44 COMPETITOR ANALYSIS 65 INTERNAL ENVIRONMENT 68 COMPETITIVE ADVANTAGE 90 VALUE CHAIN ANALYSIS 92 IMPORTANT ENVIRONMENTS THAT ETIHAD NEEDS TO BE AWARE OF: 108 ARE THE VISIONS AND MISSIONS CLEAR AND MEASURABLE? 110 REFERENCES 111 INTRODUCTION Strategic management is the comprehensive collection of ongoing activities and processes that organizations use to systematically coordinate and align resources and actions with mission, vision and strategy throughout an organization. Strategic management activities transform the static plan into a system that provides strategic performance feedback to decision making and enables the plan to evolve and grow as requirements and other circumstances change (Dess, Gregory G., G.T. Lumpkin and Marilyn L. Taylor, 2005). Our group decided to work upon Etihad Airways, the flag carrier airline for United Arab Emirates. The name ‘Etihad’ is derived from an Arabic word which means ‘union’. In addition to its main activity of passenger transportation, Etihad controls Etihad cargo and holidays. Aside from that, they have stakes in many other airlines...
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...Introduction to Hospitality Industry UNIT 1 1.1 1.2 1.3 Meaning and definition Historical evolution and development Hospitality as an Industry 1.1 Introduction Meaning and definition Tourism is not just about the facilities and attractions provided for visitors. It is about people and especially about the relationship between the customer and the individual providing service. Everybody employed in tourism needs to have the knowledge, skills and attitudes to provide the standard of product and service that customers expect. Knowing about the tourism industry, its component parts and especially where you fit in is an important starting point to a successful career in tourism. What Is Tourism? Tourism may be described as the activities of tourists and those who cater for them. It is a highly diversified business with many component parts ranging from airlines to hotels. Tourism is concerned with providing: Travel and transport facilities Accommodation Food and drink Entertainment/recreation Information and assistance Souvenirs Above all, tourism is a hospitality industry providing a service to visitors in a warm and welcoming way. ICHM Page 1 Introduction to Hospitality Industry Who Are Tourists? Tourists are people who for a variety of reasons travel to destinations, where they stay at least one night. Excursionists are also visitors that do not make an over-night stop, such as daytrippers or people on cruises. There are several basic types of tourists: ...
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...Table of Contents 1. INTRODUCTION 3 1.1. Background of the study 3 1.2. Hypothesis 4 1.3. Aim 4 1.4. Objectives 5 1.5. Structure of the dissertation 5 1.6. Summary 7 2. LITERATURE REVIEW 8 2.1. Introduction 8 2.2. Comparison of traditional and online sales 8 2.2.1. The individual businessman segment 9 2.2.2. The business group segment's sales channels 10 2.2.3. Individual travellers' sales channels 10 2.2.4. Sales channels of leisure group travellers 11 2.3. Sales and sales tools in the hotel industry and their development 12 2.4. Distribution channels 16 2.4.1. Types of distribution channels 17 2.4.2. Participants of the distribution channels 18 2.5. Development of distribution and the appearance of e-reservations 19 2.5.1. Early stages 19 2.5.2. Internet Distribution System 20 2.5.3. Online Travel Agents 21 2.5.4. Latest tendencies 23 2.5.5. Social Media 24 2.5.6. Consumer Generated Media 25 2.5.7. Meta Search Engines 25 2.6. Travel, booking and research behaviour among Hungarian travellers 26 2.6.1. Travel behaviour 26 2.6.2. Booking behaviour 27 2.6.3. Research behaviour 29 2.7. Summary 30 3. METHODOLOGY 31 3.1. Introduction 31 3.2. Secondary Research 31 3.3. Primary Research 32 3.4. Data Analysis Methods 33 3.5. Summary 33 4. EVALUATION OF RESULTS 34 4.1. Introduction 34 4.2. Interviews with intermediaries 35 4.2.1. Mr. Mate Hegedus, Revenue Specialist of Expedia Lodging Partner Services 35 ...
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...Saint Petersburg State University Graduate School of Management Group project for the Organizational Behavior course “Aeroflot” MiM, cohort II, group 5 Group members: Cherenko Polina Pitubaeva Tatiana Samadov Imruz Tarasenko Vladimir Supervisor: Assoc. Prof. Latukha Marina 2015 Table of Contents 1. Aeroflot’s Background 3 2. Country-specific context 7 3. Peculiarities of OB and HRM in country of a company’s origin 11 3.1. Main Characteristics 11 3.2.Trends 15 3.3.Perspectives 16 4. HRM strategy and practices and OB areas 17 4.1. HR Policies 17 4.2. Employee training 18 4.3. Department for Aviation Personnel Training 18 4.4. Aeroflot Aviation School 19 4.5. Social Programs For Company’s Employees 20 4.6. Health and safety 21 5. Analysis of existing problems and challenges in OB or HRM areas. 22 6. Problem description and analysis. Recommendations 24 List of Sources 27 1. Aeroflot’s Background After the World War I many European countries started to look forward civil aviation development. Since then, Soviet Union Government established Dobrolet - the first Russian air fleet that had flights from Moscow to many airports in European part of the USSR and nearest foreign locations. In the beginning, only one plane served the route from Moscow to Kenigsberg (Kaliningrad). That plain could accommodate four passengers and mail carriage. During early years of activity the company enhanced number of flight, adding following destinations...
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...0 TREASURE ISLAND By Robert Louis Stevenson Publisher’s Notes This eBook is designed, edited and published by PDFBooksWorld and can be accessed & downloaded for personal reading by registered members of PDFBooksWorld at http://www.pdfbooksworld.com. Though the text, illustrations and images used in this book are out of copyright, this unique PDF formatted edition is copyrighted. Readers of this book can share and link to pages of our website through blogs and social networks, however the PDF files downloaded from our website shall not be stored or transmitted in any form for commercial purpose. Disclaimer: This edition is an electronic version of a public domain book, which was originally written many decades ago. Hence contents found in this eBook may not be relevant to the contemporary scenarios. This book shall be read for informative and educational purpose only. This eBook is provided ‘AS-IS’ with no other warranties of any kind, express or implied, including but not limited to warranties of merchantability or fitness for any purpose. 1 Contents Treasure Island ............................................................................ 1 Contents .................................................................................... 2 PART ONE ................................................................................... 3 The Old Buccaneer ....................................................................... 3 The Old Sea-dog at the Admiral...
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...Cash Flows Chapter 11: Estimating Growth Chapter 12: Closure in Valuation: Estimating Terminal Value Chapter 13: Dividend Discount Models Chapter 14: Free Cashflow to Equity Models Chapter 15: Firm Valuation: Cost of Capital and APV Approaches Chapter 16: Estimating Equity Value Per Share Chapter 17: Fundamental Principles of Relative Valuation Chapter 18: Earnings Multiples Chapter 19: Book Value Multiples Chapter 20: Revenue and Sector-Specific Multiples 3 16 37 81 121 152 211 246 311 341 373 425 450 487 533 593 637 659 718 760 Chapter 21: Valuing Financial Service Firms Chapter 22: Valuing Firms with Negative Earnings Chapter 23: Valuing Young and Start-up Firms Chapter 24: Valuing Private Firms Chapter 25: Acquisitions and Takeovers Chapter 26: Valuing Real Estate Chapter 27: Valuing Other Assets Chapter 28: The Option to Delay and Valuation Implications Chapter 29: The Option to Expand and Abandon: Valuation Implications Chapter 30: Valuing Equity in Distressed Firms Chapter 31: Value Enhancement: A Discounted Cashflow Framework Chapter 32: Value Enhancement: EVA, CFROI and Other Tools Chapter 33: Valuing Bonds Chapter 34: Valuing Forward and Futures Contracts Chapter 35: Overview and Conclusions References 802 847 891 928 969 1028 1067 1090 1124 1155 1176 1221 1256 1308 1338 1359 1 CHAPTER 1 INTRODUCTION TO VALUATION Every asset, financial as well as real, has a value. The key to successfully...
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...This page intentionally left blank R E V I S E D T H I R T E E N T H E D I T I O N AN INTRODUCTION TO MANAGEMENT SCIENCE QUANTITATIVE APPROACHES TO DECISION MAKING David R. Anderson University of Cincinnati Dennis J. Sweeney University of Cincinnati Thomas A. Williams Rochester Institute of Technology Jeffrey D. Camm University of Cincinnati Kipp Martin University of Chicago Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. An Introduction to Management Science: Quantitative Approaches to Decision Making, Revised Thirteenth Edition David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, & Kipp Martin VP/Editorial Director: Jack W. Calhoun Publisher: Joe Sabatino Senior Acquisitions Editor: Charles McCormick, Jr. Developmental Editor: Maggie Kubale Editorial Assistant:...
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