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N832 Tourism and Travel Management

Published : 22-Oct,2021  |  Views : 10

Question:

The topic is ''Examine the cost saving business practice that budget airlines pioneered and critically evaluate its effect on the tourism industry.

All those 10 articles need to be explain the concepts and practices discussed in article.
Also compare them and offer your view on which article is more persuasive and why.

Answer:

Explanation of concepts discussed in articles 

Remanufacturing is supposed to be the sustainable and the proven profitable method which can bring out the desired elevation in the evaluation throughout the airlines business concerned. This concept helps in increasing the desired quality of the products concerned and moreover, it helps in increasing the existence of the firm throughout the travel and tourism industry (Abdulrahman et al., 2015).

The next is the cost benefit analysis which helps in increasing the effectiveness of the entire business processes concerned throughout the airline market segments (Bazargan et al., 2013). The increase in the prices of the fuel has generated an enormous amount of impact on business processes of the airline's firms. Thus, the cost benefit analysis will help in bringing out the desired positive outcomes for the firm throughout a large scale.    

The use of the various distance measures is of great importance as they help in calculating the concrete differentiation levels between the airlines concerned between 2004 and 2012 (Daft and Albers, 2015).  The convergence concept helps in revealing the actual adaptations throughout the airline's industries concerned.  It also provides the desired platform to do effective research in the field of empirical convergence analysis.  

Sustainability is one of the most important concepts that need to be understood effectively as it helps in evaluating the significant growth of the airline's industry. It is defined as the desired economic development in order to meet the wishes and the requirements of the present generation (Epstein, and Buhovac, 2014). Therefore, it is required to develop innovative sustainability strategies and its implementation in order to enhance the execution of the business processes of the firm concerned.

The practices of the use of marketing fundamental are supposed to be very important in order to maintain effectiveness throughout the business process concerned.  The marketing mix is one of the effective costs saving business practice which helps in evaluating the efficiency of the entire business processes (Shaw, 2016).

Development of the low-cost business model is another effective practice which can help in bringing out the desired positive results for the respective firms (Fageda et al., 2015).  The use of the multivariate analysis will help in finding out the several route characteristics to enhance the effectualness of the business methods adopted by the concerned organization.

The developments of the effective and efficient supply chain networks are important as these helps in maintaining the desired growth and profitability of the organization.  Using the desired power of the internet technologies the supply chain management networks needs to be improved as these helps in adding the value to the concerned firm (McCormack and Johnson, 2016). The integration of the different business methods is required and this can be done with the help of the supply chain management practices which will finally bring out the positive results for the organization.

Use of the different types of the surveys as to evaluate the needs of the customer will help in becoming the low-cost provider (Budd et al., 2014). There are different types of the approaches adopted by many of the well-known firms to make the services available to the customers at a lower price rate which enhances the satisfaction level oaf the customers throughout the concerned travel and tourism industry.

The adaptation of the concept of lean consumption is crucial as it critically evaluates the fact that it should have the companion processes which will help in identifying the needs of the customers and will assist them with their respective wishes (Womack and Jones, 2015).  It involves various steps such as searching for, installing, obtaining, maintaining, eventually, repairing, upgrading and disposing of the different goods concerned.

There are different business model proposed by many of the well-known researchers, which needs to be adopted in order to examine of the best cost-saving approaches for the evaluation of the concerned business methods (DaSilva and Trkman, 2014).   The business model includes different elements such as strategy, business concept, economic model, revenue model or the business process modeling.  

Comparison  

The comparison between the articles selected brings out the potential information regarding the different business cost-saving approaches that can be adopted t increase the profitability and productivity of the organization concerned.  It becomes very important for the firms operating throughout the airline's industry to adopt suitable business model as to improve the overall performance of the firm.  Remanufacturing, sustainability, and cost-benefit analysis are supposed to be more important business practices as compared with the other articles.

References:

DaSilva, C.M., and Trkman, P., 2014. Business model: What it is and what it is not. Long range planning, 47(6), pp.379-389.

Daft, J. and Albers, S., 2015. An empirical analysis of airline business model convergence. Journal of Air Transport Management, 46, pp.3-11.  

Abdulrahman, M.D.A., Subramanian, N., Liu, C. and Shu, C., 2015. The viability of remanufacturing practice: a strategic decision-making framework for Chinese auto-parts companies. Journal of Cleaner Production, 105, pp.311-323.

Bazargan, M., Lange, D., Tran, L. and Zhou, Z., 2013. A simulation approach to airline cost-benefit analysis. Journal of Management Policy and Practice, 14(2), p.54.

Epstein, M.J. and Buhovac, A.R., 2014. Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.

Shaw, S., 2016. Airline marketing and management. Routledge.

Fageda, X., Suau-Sanchez, P. and Mason, K.J., 2015. The evolving low-cost business model: Network implications of fare bundling and connecting flights in Europe. Journal of Air Transport Management, 42, pp.289-296.

McCormack, K.P. and Johnson, W.C., 2016. Supply chain networks and business process orientation: advanced strategies and best practices. CRC Press.

Budd, L., Francis, G., Humphreys, I. and Ison, S., 2014. Grounded: Characterising the market exit of European low-cost airlines. Journal of Air Transport Management, 34, pp.78-85.

Womack, J.P., and Jones, D.T., 2015. Lean solutions: how companies and customers can create value and wealth together. Simon and Schuster.

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