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Travel and Tourism Organisations - Coggle Diagram
Travel and Tourism Organisations
Travel Ownership
private businesses
public organisations
voluntary sector
Public Sector
part of the economy where goods and services are provided by the Government or local authorities.
The aim of public sector activity is to provide services that benefit the public as a whole
involves research and development and marketing
DCMS: Department of Culture, Media and Sport
use funding appropriately
make enough money to continue operating
Private Sector
most tourism businesses are part of the private sector. This means that they make up part of the economy that is not under Government control but is owned by private businesses
TOUR OPERATORS - such as TUI and Thomas Cook
Travel Agents - such as STA Travel and Reigate Travel
TRANSPORT ORGANISATIONS - such as Heathrow
ACCOMMODATION PROVIDERS - such as Premier Inn
LARGE VISITOR ATTRACTIONS - such as Legoland or Chessington
The private sector consists of business activity that is owned, financed and run by private individuals
The size of the organisation is also important
Private Limited Company
Shares can only be bought and sold with the permission of the board directors
Shares cannot be offered for sale on the stock market
If the company goes bankrupt each shareholders liability to pay debt is limited to the amount of shares they own
Public Sector
DCMS - Department of Culture, Media and Sport
The aim of the public sector is to provide value for the funding they receive by providing the best possible quality service to the public
use funding appropriately
make enough money to continue operating (Break Even)
Reinvest profits into their services and activities
Voluntary Sector
Many voluntary sector organisations are charities. They receive funding from a variety of sources, such as: Government grants, donations from the public, including legacies, entry fees paid by visitors to their attractions and purchases made in their visitor shops
Usually have paid staff but also rely on many volunteers
Their main aims are to provide a service for others and to reinvest any profits back into the charity