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In
21st century, business has become on the most difficult job as the
advancement in technology has strong impacts on trading activities. The
advancement in technology provides a lot of opportunities for sale, growth and
development of business throughout the world. Actually the business is a set of
various activities for production, buying and selling of the various products. In
business, the leadership and management is providing services, products and
goods to their clients. The leadership and management of company or
organization handle various activities like, accounting, finance, marketing,
manufacturing, marketing, research and development
According
to world bank and world economic reports, Oman is the most peaceful country in
world and it highly suggesting country of investment or setting their business.
Therefore, I have plan to establish a LLC for my business. I have planned to
establish a company as,
·
Al Barak Travel & Tours Oman
The economy of the country is stable due to sale of oil and gas in
global market. Oman has world 25th largest oil and gas reserves.
Oman LNG sale has been increased in world and the GDP also increase. Therefore,
according to economic reports the Oman is feasible for investment
·
Transportation and Logistics Services
·
Tourism and Travel Services
·
Technology-Based Startups Company
·
Event Management Services
·
Medical Consultancy Services
·
Health Sector Services
·
Manufacturing
Business
·
Fisheries Business
·
Mining Business
·
Education Services
I
have planned to invest OMR 60,000 for establishing my own or personal company
for “Al Barak Travel and Tourism Oman” in Muscat. I will provide services for
local and international tourist for visiting Oman
Oman is one the most emerging country in business and economic as
it has important strategic position in world with its Muscat port. According to
World Bank economic reports, Oman is a peaceful country with high income rate
in the region. The country has political stability as compared to other
regional countries. The Sultan of Oman is business lover and providing business
friendly environment to investors. According to Ministry of Tourism Oman, the
trend in travel and tourism is increasing as Sultanate of Oman is celebrating
its 50th anniversary of its establishment in 2020. The local people
have high income rates and have strong buying power. All the environmental
factors like SWOT analysis and PESTAL analysis supports that Oman has best
environment for business or investment. Form the analysis of legal structure,
it observed that it is easy to start “Travel and Tourism Company” in Oman with
least requirements
·
Political Stability and Support for
business
·
The environment of country is
peaceful and people have high income rate
·
The social and culture values
supporting or encouraging the business activities
·
The risk level is very low
The leadership of
Arab countries focusing on building diversified economy rather than focusing on
oil and gas income. The leadership of Oman is investing on tourism projects and
on hospitality projects. The Oman leadership is providing business friendly environment
for the investors for covering the high income generating nation. The Sultanate
of Oman leadership is developing laws for having legal support to business
organizations
In 2020, there are large number of population traveling to Arab
countries for tourism and hospitability. The mindset of people is changing
rapidly for visiting the Arab countries for tourism. The Arab nations have large
portion of income form oil and gas. In 2020, the Arab nations have decided to
shifting the economy from oil to other sectors. For the reason, Oman is also
investing on “Travel, Tourism and Hospitality” industry like other Arab
countries. The leadership of Oman and other Arab countries focusing on
diversified economy. The travel and tourism industry has opportunity to
grow business as 12 million visitors are expected to visit in this year in
Oman. The ratio of visitors is increasing year to year due to its strategic
position and economic activities. The GDP ratio of Oman is increasing as
visitors or investor are coming in country as it was 3.5% in 2019. The travel,
tourism and hospitality industry is growing with the ratio of 10% in Oman and
Arab region. The Oman business forum (OBF) is supporting the private and public
companies for growing opportunities or ideas in travel industry
I
have designed various variety of packages as product or services for tourist.
There are more than 12 million visitors are coming in Oman and I am focusing on
delivering comprehensive products. I have planned for short term package and
long term package. The short term package includes the stay one to ten days in
Oman and long term include stay up to one moth or more
·
Tours
·
Adventure Tours
·
Golf Tours
·
Excursions
·
Mice
·
Cruises
·
Hotels
I
have planned the following short term destination for visitors in affordable
prices to capturing the large number of customers
·
Northern Oman Self-Drive 4WD
(08 days -07 nights)
·
Damaniyat Island by Catamaran 08 hours (white sand, water and marine
life)
·
1001 Nights Package 02 days / 1 Night
·
A journey through Arabia 3 Days/ 2 Nights
·
Discover Oman Tour 10 Day/ 9 Nights
·
Hidden Treasures of Oman Tour 3 Days / 2 Nights
·
Turtles by Night Package 2 Days / 1 Night
The leadership of
Oman is focusing on shifting their economy from oil and gas to other sources.
The lower prices of oil and gas in market has long lasting impacts on GDP of
country. In 2019, the GDP of Oman was 3.5% and in 2020 it is 2.9% due to lower
prices of oil and gas. The leadership of Oman is investing on other sectors for
increasing GDP ratio in Oman. In 2020, the Oman economy having trends in
following sectors for investing or establishing business company
1.
Transportation and Logistics Services
(Top trending business in Oman in 2020)
2.
Tourism and Travel Services (Highest
trending commercial in Oman in 2020)
3.
Technology-Based Startups Company (Upper
trending business in Oman in 2020)
4.
Event Management Services (Top trending occupational
in Oman in 2020)
5.
Medical Consultancy Services (Topmost
trending corporate in Oman in 2020)
6.
Health Sector Services (Maximum trending professional
in Oman in 2020)
7.
Manufacturing Business (Uppermost
trending business in Oman in 2020)
8.
Fisheries Business (Best trending corporate
in Oman in 2020)
9.
Mining Business (Top trending business in
Oman in 2020)
10.
Education Services (Chief trending professional
in Oman in 2020)
I
have selected the business of “Travel, Tourism and Hospitality Management”
company in Oman as it is best suitable for me. I have education related to
business management and it is easy for me to handle or manage business. The
travel & tourism business is easy to run and manage in Oman. It is required
less staff and training for managing the business operations. After assessing
or evaluating the various factors like our education, capacity for investment
and experience I have decided for “Travel & Tourism Company” in Oman. The
business fits on my goals and objectives with educational background
The marketing mix is a strategy for promoting business goals and
objectives. The marketing has strong role in selling products as customers has
strong inspiration for marketing. In 21st century, marketing has
become vital part of business growth and development strategy. The tradition
marketing and digital marketing change the customer satisfaction approach. I am
using marketing mix approach for targeting the customers inside and outside of
country. It helps in explaining the quality, availability, features and
benefits to customers. In marketing, I am going to target the holidays and
other days for visiting Oman destinations. The marketing mix based on four main
elements like as product, price, place and promotion
In travel and tourism company, the most important is your services
or products you are offering your customers or clients. Almost more than 2
million visitors visiting Oman and the services offering play vital role in its
attraction. I have developed a marketing strategy for our products. I have
divided the products or services into their levels
Lower level (Per Day Package)
I have focused or targeted the low budget people by designing 1
day, 2 days, 3 days, or up to 5 days’ products or services packages for
tourists. I have planned with flexibility and has given choice to customers for
planning tour by choosing days online with matching expenses. I am providing
the facilities like food, accommodation, traveling buses, guider and security
Middle level (Per Day Package)
I have designed a package for having middle level budget for
visiting famous destinations in world. In this product, I have designed for
more facilities on the request of tourists. The product design has flexibility
for tourist in increasing number of days or nights stays in Oman.
High Level Package (Per Day Package)
This product is designed for rich businessman, sports players,
political leaders and other high value personalities. These personalities can
design online product design by selecting number of days or nights with
accommodation facilities and destinations. It is a costly package with high
level experts
The price is the key to attract the customers as it has effects on
psychology of the customers. The pricing effects have strong influence on
customers and for making decisions. In travel and tourism, the pricing strategy
used for attracting the large number of customers. I have developed price
strategy for attracting the all level of customers. The price strategy is like
as,
1.
Low Budget Tours (For the customers
have low budget or short budget with less facilities)
2.
Average Budget Tours (for the
customers have average range of budget and want to acquire middle level
facilities on tour)
3.
High Budget Tours (for targeting the
high potential buyers, rich mans, businessman’s, sports person, officials and
other people with large number of facilities on tour with luxury)
The selling of products or services depends on the promotions as
with the advancement in digital technology globalizations have impacts on
traveling. On global level, for attracting the customer’s various promotional
strategies are using by companies. I have also designed the promotion strategy
·
One-time meal free
·
One place free for visiting
·
Guider will have provided free
·
Less in accommodation rates
·
Less in transportation rates
The
place in marketing has strong importance for selling the products or services
in business. It is part of marketing strategy to have office in market or on
good location for targeting customers. I have decided Muscat central part for
my office in Oman for targeting the potential customers
·
Muscat central part for office
·
Open branches in main cities and on
important locations
·
Selected the place within the market
The most important resource for a company or business is its human
resources as it has vital role in company growth, expansion and development.
The efficiency and performance of human resources have strong impacts on
revenue generation and profitability. I have required the following human
resource for managing my travel and tourism company Al Barak in Muscat Oman
·
Owner (Investor) 02
·
Director 01
·
Accounting & Financial manager 01
·
Marketing manager 01
·
Human resource manager 01
·
Tourist Guiders 06
·
Drivers for buses 03
·
Office workers 02
·
Security staff 03
·
Legal Professional (Private lawyer
for legal consultancy)
The owner has responsibility for developing the plans and
strategies for companies and make decisions with the consultation of director
of company. The director of company has role as connection among owner and
management. The role of mangers already decided for their positions like
accounting, financial, marketing, human resource manager and tourist guiders.
The drivers, security staff and other staff given brief details for their responsibilities
in company for serving
The
director of company must have master degree with management and more than 10
years’ experience for running travel and tourism company in Oman. The managers
must have master or professional degree in their respective field with (05)
five years’ experience. The tourist guider must have graduation and three
years’ experience in guiding tourists. The driver must have valid driving
license with health fitness certificate and have three years driving
experience. The other staff must have one to three years’ experience in
respective field
The
organizational chart shows the structure of company and its working style. It
has impacts or influence on company efficiency and performance. The model of
business has effects on its profitability and revenue generation. I have
established a company Al Barak Travel and Tours in Muscat Oman.
I have adopted the “small and medium size” business organization
structure as I have limited investment resources. It is easy for me to handle
the working and employees. SME’s enterprises are most common form of business
in Oman
The operation of Al Barak Travel and Tours Oman is based on local
and international level. With help of IT professional staff I will use social
media and digital marketing technique for targeting the customers. First of
all, I am offering the services for famous sites of Oman that inside or nearby
cities. I have chosen places for tourists and my business operation will
revolve around it
I have fulfilled the Omani legal requirements for starting new
travel and tourism company in Oman. I have hired a legal professional
consultant for completing the legal process and requirement. I have now,
1.
Company registration
2.
License of Travel and tourism agent
3.
License of Marine Activities
4.
License of Entertainment &
Leisure
5.
License for tourism transportation
6.
License for managing hotel and
tourism accommodation
I have sought all the
government and agencies permissions with certificates or license hold by
company. Now I can start my own or personal business company “Al Barak Travel
and Tours Oman”
The most important step I have taken with the help of IT
professionals uploaded location map on internet. It helps the local and
international tourists to find the office of company without trouble.
I have developed a complete business plan for managing the affairs
of “Al Barak Travel and Tours Oman”. In company, the leadership and management
have focus on production of packages for tourist
Layout of Al Barak Travel & Tours Oman
The layout or design of products or services has strong important
as its layout have strong influence on selling the products. I have divided the
layout of products or services in three layers like as
·
Lower Budget Tour Packages
·
Average Budget Tour Packages
·
High level Budget Tour Packages
I have settled a process for local and international customers for
purchasing company services or products of tour packages. I have designed per
day package for lower, middle and high level budget tourist. By visiting our
office personally or through online the customer with just 30% payment first
can purchase our packages
I have scheduled working activities on daily basis, weekend basis,
holiday, summer vacations and other special days targeting activities.
I have developed a chart for taking the tours to the destinations
after completing the number of tourists with time.
The company has distributed the staff such as tourist guiders,
security staff, drivers and other staff for working. I have also distributed
the tangible and intangible resources for working with time.
The company offer membership and affiliation scheme for tourist and
gives them less at the peak season. The permanent member has various bonus or
incentives time to time
The company management has divided the trading 24 hours in off time
and peak time for trading. The management of company have communication for
coordination among each other.
The
leadership and management of “Al Barak Travel and Tour Oman” has developed a
table for needs and the possible expenditures
Needs
and Funds
Al Barak Travel and Tour Oman has the following assets
and expenses after its establishment as like given
|
|
Assets Needed |
Cost |
|
01 |
Initial
Capital |
OMR
60,000 |
|
02 |
Salaries
|
OMR
20,000 |
|
03 |
Cash
Reserves |
OMR
20,000 |
|
04 |
Equipment’s
|
OMR
10,000 |
|
05 |
Inventory
|
OMR
10,000 |
|
|
Items (Starting Business) |
Costs |
|
01 |
Legal
Expenses & License |
OMR
700 |
|
02 |
Marketing
Expenses |
OMR
900 |
|
03 |
Insurance
Expenses |
OMR
200 |
|
04 |
Rent
Expenses |
OMR
1200 |
|
05 |
Stationary
|
OMR
500 |
From
the analysis of above data, it concluded that Oman is has strong strategic
importance as in Persian and Arabian Gulf. The strategic location, oil and gas
reserves plays vital role in becoming economically stable country. The peace of
country in region invests the investors for investing in Oman. It concluded
that the social, cultural and high income rate is best for establishing
company. I have established “Al Barak travel and tour Oman” with low investment
for serving the local and international visitors. It estimated that almost 2
million visitors are coming in Oman and travel & tour business is a global
opportunity as it is emerging field. The legal system supports the business and
encourage for business as Oman leadership want to shift economy from oil to
other diversified economic fields. The political, social and cultural
environment support the business activities especial travel and tourism
activities.
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