An Assignment on

Cox & Kings

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INTRODUCTION

Tourism
Tourism is travel for recreational, leisure or business purposes. The World Tourism
Organization defines tourists as people who "travel to and stay in places outside their usual
environment for more than twenty-four (24) hours and not more than one consecutive year for
leisure, business and other purposes not related to the exercise of an activity remunerated from
within the place visited". Tourism has become a popular global leisure activity. In 2008, there
were over 922 million international tourist arrivals, with a growth of 1.9% as compared to 2007.
International tourism receipts grew to US$944 billion (euro 642 billion) in 2008, corresponding
to an increase in real terms of 1.8%. As a result of the Late-2000s recession, international travel
demand suffered a strong slowdown beginning in June 2008, with growth in international
tourism arrivals worldwide falling to 2% during the boreal summer months, and this negative
trend intensified as international tourist arrivals fell by 8% during the first four months of 2009.
Tourism is vital for many countries, such as the U.A.E, Egypt, Greece and Thailand, and many
island nations, such as The Bahamas, Fiji, Maldives and the Seychelles, due to the large intake of
money for businesses with their goods and services and the opportunity for employment in the
service industries associated with tourism. These service industries include transportation
services, such as airlines, cruise ships and taxis, hospitality services, such as accommodations,
including hotels and resorts, and entertainment venues, such as amusement parks, casinos,
shopping malls, various music venues and the theatre. The United Nations classified three forms
of tourism in 1994, in its "Recommendations on Tourism Statistics: Domestic tourism", which
involves residents of the given country traveling only within this country; Inbound tourism,
involving non-residents traveling in the given country; and Outbound tourism, involving
residents traveling in another country.

Tourism as a Service industry
The tourism industry, and the products and services that fall under its wide umbrella, are
complex indeed. There are a number of features that make it unique.

Tourism is a subjective experience and an amalgam of products and services - not a single
Product.

* Tourism products, like all services, are intangible. The Indian Tourist Commission in other
countries does not sell tourism products, it sells what we may call a shifting generic image of
India.

* The tourism product is not a homogeneous product. We cannot standardize a service. Hotels
attempt to standardize their room and service delivery as efficiently as possible through staff
training and quality control procedures, but the human ingredient complicates the equation. As
most services require interaction between the producer and consumer, each with their own set of
expectations, it is highly unlikely that any product can ever be perceived equally by all
customers.

* Tourism products are perishable. An unsold Park Grand hotel room, an unused aircraft seat and
a vacant concert seat is revenue lost. They cannot be stored for later use, as can tangible
products.

Product and Services
The principal services offered by the company are:
Destination Management
Outbound Tourism
Business Travel
Incentive & Conference Solutions
Domestic Holidays
NRI
Trade Fairs
Foreign Exchange
Insurance

COMPANY OVERVIEW
CORPORATE STRATEGY
ORGANISATIONAL CULTURE
MICRO ENVIRONMENT
BUSINESS MODELS
CORPORATE STRATEGIES
ROLE OF PORTFOLIO MANAGEMENT AND RESOURCE
ALLOCATION
CHALLENGES INVOLVED IN MANAGING A GLOBAL WOKFORCE
ROLE OF ORGANISATIONAL CULTURE IN MANAGING AND
MOTIVATING STAFF
CONCLUSION
RECOMMENDATIONS
EXECUTIVE SUMMARY
REFERENCING