Travel and Tourism Industry of London - Assignment Example

Many business tactics can be employed to bring about operational changes to manage talent effectively, such as identifying role models, eliminating biased policies and procedures, providing equal opportunities, training and development, and conducting workshops for employees to increase performance and production (David Pappies, p.103, 2006).

This paper attempts to unveil the programmed and programs undertaken by a couple of hotels within tundral London increase employee performance.

The travel and tourism industry are among the oldest and largest industry orthel, and the industry has been growing significantly faster than most other industries. Glob Globalization led to the increase in travel across the globe, and to meet additional demands for accommodation and food, hotels and motels have come up in a big way.

The general economic vitality of a country is an important consideration because an indication of its economic condition will be reflected in such factors as consumer demand and prices. In scanning the economic environment, the following factors deserve consideration:

1. Gross National Product (GNP).  This refers to the total market value of goods and services produced in a country per year and its growth rate.
2. Income distribution refers to the level of consumer’s income and his/her buying power
3. Foreign exchange rates are an essential component of the traveler as he/she will have to carry foreign exchange during travel between countries.
4. Monetary and fiscal policies and exchange controls must be considered, as there are countries that limit the amount of money that can be withdrawn from their country as well as impose large payments for international transactions, like joint ventures and entry into a country.
5. Financial and investment markets are necessary to understand the business environment and also the feasibility to invest and draw returns. Features such as, individual consumer and corporate interest rates, credit availability, inflation, stock exchange and stock exchange listings are some of these.
6. Taxation and tariffs help identify the government initiatives to impose restrictions on earnings. Taxes on individuals, corporations and imported goods imposed by the host country government can be a disturbing factor. 
7. The study of Trade/industrial factors in the context of import/export, measures of activity in commerce, are useful indices in determining the state of the economy, like prosperity, depression, recession, and recovery.
8. Labor markets are perhaps the most attractive component from an investor’s point of view. Unemployment, the labor pool, welfare spending, and so on is areas that determine the level of their spending capacity.