As an experienced and prosperous tour operator specialising in NZ travel destina
ID: 425187 • Letter: A
Question
As an experienced and prosperous tour operator specialising in NZ travel destinations you have been asked to open an outlet within a new mixed-use development situated on the waterfront in central Sydney to promote New Zealand to Australians. The development includes plans for a contemporary hotel, upmarket retail precinct including restaurants and a night club. The developer, architect and interior designers have prepared a modern stylish concept and a well-known marketing agency has also been retained to promote the venture.
Discuss the concepts of stakeholder theory then highlight the major advantages and disadvantages of entering into this type of inter--organizational relationship. Discuss two examples of how the relationship between you, the night club owner, the retail precinct and the hotel management team could work to be a success for all parties.
Explanation / Answer
“A stakeholder is defined as an organization or a person affected by the corporation's purpose. For example; Employer, shareholders, employees, partners, suppliers etc.”
The government, communities, and competitors also are referred to as stakeholders.
The core concept of stakeholder theory is as follows:
The key advantage is as follows:
The Disadvantage is as follows:
Discuss two examples of how the relationship between you, the nightclub owner, the retail precinct and the hotel management team could work to be a success for all parties.
Example 1 The key shareholders are the tour operator, Nightclub owner, the retail precinct and hotel management team.
The key stakeholders will be the tour operator, his key employees, the nightclub owner his employees, the retail precinct and all retail employees, the hotel team and employees. The second line of stakeholders will be the neighborhood community, which will prosper with the flow of tourists. The government also, as the employment rate and economy will improve by the influx of tourists and their spending.
The business will be win-win for all as the tour operator will ensure a regular flow of customers from different parts of Australia and keep this a must-visit destination for the visitors from other parts of Australia. The tour operator will ensure including a night stay at the hotel, benefitting the hotel and its team and the nightclub owner will manage the nightclub and ensure a free visit/drink coupon in all hotel rooms to encourage these visitors to visit his club. The retail precinct will benefit by keeping essentials for tourists who will normally forget some essential needs or some local handicraft for picking up last minute gifts for friends and relatives.
The entire group of tourist will increase the business in the area and improve the overall economy of the community.
Example 2: The hotel will advertise and create publicity driving in more customers for a weekend stay, they will patronize the nightclub to relax, visit the retail precinct for picking up mementos as memories, and the tour operator can promote New Zealand tours in the rooms and get customers to use his services. All the key stakeholders will benefit and support each other to grow economically. The community will again benefit by an influx of visitors and hence increase in employment and local businesses.
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