Wednesday, February 26, 2020
The Main Development of e Marketing and its Effect on Tourism Essay
The Main Development of e Marketing and its Effect on Tourism - Essay Example This essay will seek to address some of the major developments of e marketing and their effects on tourism. Additionally, it will also look at the major issues related to technology and innovation as well as their impacts on global tourism. Understanding and managing technological change and innovation To begin with, the recent advances and developments in connectivity and power processing facilitated by Information Communication Technology are undeniable. It is also agreeable and true that the expansion of broadband is part of the greatest challenges of the 21st century, which, once the world overcomes it, will witness the end of the ââ¬Ëplague of distanceââ¬â¢ that exists globally. Simultaneously, the ââ¬Ësmart worldââ¬â¢ in which are living in whose landscape albeit experiencing a permanent process of evolution is offering clearer, becoming friendlier, and presenting solutions that serve in reducing money and time and opening new paths towards the personalization of pr oducts and services. At this point, it is understandable that, in this world, in spite of its tones of inequalities offers an immense space to increase travel, because many barriers that once prevented or slowed global travel are gradually declining (Alipour, 2011:1). As of today, combination of technology and price comparison is increasingly shaping the activities of tourism. Experts are developing new applications for mobiles that offer a wide range of opportunities, social networks are consolidating themselves within a more transparent market where citizens are in a position to develop and provide services together, and changes in the concept of the value chain are producing new business models. In other words, change is becoming more constant and obvious, just as the opportunities that it is creating and presenting. However, technological advancements are presenting a challenge for the tourism industry. It is therefore vital understand the main trends that are influencing supply and demand, to know what is managing the change in the external environment while evolving at the same rate (McMaster, Kato, and Khan, 2005:12). Moreover, it is congruent to converse with the improved capacity for tourism organizations to respond via policies that can better integrate diverse interests, taking into account the whole range of potential of a destination. Business analysts recognize the internet as a widely and extremely valuable tool of marketing. This is because; the internet gives substantial merits over traditional methods of communication. The offers increased customer involvement in controlling transactions, increases the speed of transferring and retrieving information, and reduces the costs involved in communication. The internet is offering the tourism industry a greater flexibility of using the marketing mix (Kim, 2004:5). As such, it increases internal and external communications as well as facilitates market research. Tourism industry depends highly on int ernet in intensifying and improving customer services, product development, market penetration, cost saving via reengineering, product delivering, and in direct marketing. The use of internet transformed the tourism indus
Sunday, February 9, 2020
Summarize the reasons for the failure of Lehman Brothers Essay
Summarize the reasons for the failure of Lehman Brothers - Essay Example hat the problems of the Lehman Brothers were well published over the media which gave time to the derivatives market to prepare for the worst (The Economist, 2008). The statement was pretty correct as the credit-default swaps market had not been broken but buckled up (The Economist, 2008). The bank was unable to assess the risk of the borrower or trading partner which resulted in defaults paralyzing the cash flows of the bank. According to The Economist, a senior bank executive quotes this mistake of deregulated leasing ââ¬Å"the mistake of a lifetimeâ⬠(The Economist, 2008). The Lehman Brothers was caught up amidst US$ 613 billion of debt of which US$ 160 billion was held by international investors as unsecured bonds. The European pension funds and the individuals in Asian markets had believed in the high rating of the Lehman Brothers and put their investments in this unsecured bonds. The price of this unsecured bonds collapsed quickly destroying the share price of the company to half overnight. The shareholders had already witnessed downfall of the prices of shares in the past few months. These losses caused a spiral in the money market. International investors pulled off US$ 400 billion from the money market funds which was supposed to be a safer investment. This action was taken when a fund suffered losses which were loaded on Lehmanââ¬â¢s debts (The Economist, 2008). Dick Fuld was the CEO of the Lehman Brothers at the time of the collapse of the bank. The Lehman Brothers has been the 4th largest investment bank in the US since 1994. Mr. Fuld has been partly blamed for the collapse of the bank and the losses made by the investors. The CEO enforced many policies and precautions to avoid any financial storm, but still the bank revealed US$ 2.8 billion losses in the next quarter. On the 15th of September, 2008, the share price of the bank went down 94% as compared to the previous year. The redundancy of 24,000 employees caused a great human cost. All these factors
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