The Entertainment Industry and Venue Management in Hospitality Assignment

The Entertainment Industry and Venue Management in Hospitality Industry - Assignment Example This confirms the sector compared to others has potential of sufficiently giving the government high revenue. The extent of Theatre in UK is quite evident based on numerous admirations not only within the bloc but also from global admirers who visit London annually due to the sector’s quality and creativity. Based on Shellard (2004) study, by 2004 had about 541 theatres whereby to date they have increased. Based on 2009 statistics approximately 10% of all visiting over 10 million people normally preferred watching stage shows whereby to date the number continues to augment (BBC News, 2010). The sector’s audiences include both the local and global people whereby the latter prefer making UK as their tourist destination. Hence, contributing to government revenue evident in 2009 whereby the revenue from this sector was about  £2.8 billion (BBC News, 2010). There are roughly 50 parks in UK with Alton Towers being the Britain’s best, whereby similar to theatres the parks their target includes both global and local visitors (Hughes-morgan, 2010). Though not comparable to other sectors, theme parks are currently making significant strides towards being reliable revenue generators. The 2009 statistics depict the sector managed to contribute approximately  £315m, which is significant revenue to the economy (Hughes-morgan, 2010). Probably, the hindering aspect is that their highest turnover period is especially in December when numerous people especially youths visit these venues (Hughes-morgan, 2010). The most targeted people include children and youths though and fun loving people more so parents as they accompany their young ones. Hence, they are family destinations not only to the natives but also tourists visiting diverse states who normally prefer relaxing with their close members more so children. The UK museums play a critical role since they represent culture in historical phases up to date. They actually assemble artifacts and preserve

Importance of Key Success Factors in businesses and organisations of Essay

Importance of Key Success Factors in businesses and organisations of SAB - Essay Example This report studies critical success factors by studying the case study of the South African Brewery (SAB). Since its inception the management of the company had a vision of future expansion and utilization of the most efficient mechanisms in order to obtain access to the capital and money markets and provide liquidity to the equity and commercial of the company was an early success factor for SAB. In 1892 the company converted into the public company South African United Breweries openly traded in the London Stock Exchange was the event that allowed the company to finance its operation and acquire capital whenever needed take advantage of market opportunities. The company immediately work to work and the creation of the public came simultaneously with the acquisition of a brewery. The smart strategies continued with this company and the exposure gained as an LSE player attracted a key investor which led to the formation of SAB in 1895. Another key historical event in SAB which was a major success factor was the latter acquisition of two other companies in South African beer business whic h enabled the company to control 90% of the alcoholic beverage market share in 1960. A company that controls 90% of a market basically is a company operating in a de-facto monopoly. In reality the company operates in oligopoly. An oligopoly is an industry with very few competitors participating in the marketplace. Since SAB control 90% there are powerful that the power they have over strategic decisions and entire industry provide the company the ability decision such as controlling the pricing, supply and demand of the supply chain in South Africa. That type of power enabled the company to become the player in this industry that serves the need of the customers and creates the trends in product offering that the minority players in the industry follow. A de-facto monopoly allows a company such as SAB to set a price for its product without worrying about the