FJ CTS Group: Strategic Restructuring for Turnaround

2014 ◽  
Vol 18 (01) ◽  
pp. 199-221
Author(s):  
Wei Feng ◽  
Yong Ma ◽  
Shengliang Deng
Keyword(s):  
Rapid Development ◽  
Business Environment ◽  
Tourism Industry ◽  
Travel Agency ◽  
Whole Process ◽  
Foreign Tourism ◽  
The Board Of Directors ◽  
Tourism Enterprises ◽  
Owned Company ◽  
Fierce Competition

This case describes how Fujian CTS Group, a state-owned company in Fujian Province, China, transformed from a company suffering from three consecutive years of losses to a profitable conglomerate through strategic restructuring. This case focuses on the whole process of strategic restructuring, including the background of the restructuring, the formulation and implementation of the strategic restructuring plan, as well as the results of the restructuring. FJ CTS group was founded in December 1949 as “Xiamen Overseas Chinese Service”, known as the first travel agency of PR China. After 60 years of development, Fujian CTS Group has developed into a conglomerate with core businesses of travel service, hotel, and tour bus. With the rapid development of China's tourism industry and quick change of business environment, Fujian CTS Group faced fierce competition from many domestic and foreign tourism enterprises, and the company had suffered from three consecutive years of losses since 2003. At the end of 2005, in order to get the company out of financial difficulties and achieve profitability, the board of directors of the group started to work on strategic restructuring program. At the end of 2006, the restructuring plan was completed. In early 2007, the group began the implementation of restructuring plan. Since then, with two years' great efforts, the restructuring of the group had been completed successfully. The company's overall revenue rose steadily, operating performance greatly improved. Until the end of 2009, the total assets of the group reached 13.52 billion Chinese yuan and the three core businesses (travel service segment, hotel segment, and tour bus segment) of the group all achieved good financial performance. The group has achieved turnaround through effective restructuring.

scholarly journals Application of Fuzzy Logic to Evaluate the Economic Impact of COVID-19: Case Study of a Project-Oriented Travel Agency

2021 ◽  
Vol 13 (17) ◽  
pp. 9602
Author(s):  
Gergő Thalmeiner ◽  
Sándor Gáspár ◽  
Ákos Barta ◽  
Zoltán Zéman
Keyword(s):  
Fuzzy Logic ◽  
Relevant Information ◽  
Tourism Industry ◽  
Economic Effects ◽  
Travel Agency ◽  
Organization Performance ◽  
Managerial Decision ◽  
Organizational Goals ◽  
Tourism Enterprises

The aim of the study is to create a performance evaluation controlling model to evaluate the performance of tourism enterprises as a function of the economic effects of COVID-19. As a result of the significant change in demand resulting from the economic environment, expectations and cyclicality caused by the pandemic, the assessment of organization performance has become subjective. Under these changed environmental conditions, most of the methods used by tourism companies to evaluate performance are not effective enough. In our research, we illustrated a controlling model based on fuzzy logic through a case study. By applying the model, it becomes possible to evaluate project-oriented tourism organizations according to different standardized norms. Our model considers the subjectivity derived from measurability and goal setting. We point out that the performance of organizations operating in the tourism industry significantly influenced by COVID-19 can be subjectively assessed during the pandemic period and thus depends on the analytical context. By evaluating the performance of tourism organizations along internal organizational goals, more relevant information content and more informed managerial decision support can be achieved.

scholarly journals SIGNIFICANT CONTRIBUTION OF MOBILE APPS TO THE DEVELOPMENT OF TOURISM IN UZBEKISTAN

2020 ◽  
pp. 175-183
Author(s):  
ALIMJON DADAMUHAMEDOV
Keyword(s):  
Information And Communication Technologies ◽  
Information Technologies ◽  
Mobile Apps ◽  
Rapid Development ◽  
Tourism Industry ◽  
Travel Agency ◽  
Travel And Tourism ◽  
The World ◽  
Modern Information ◽  
Pilgrimage Tourism

Recently, Uzbekistan has taken comprehensive measures to develop tourism as one of the strategic sectors that contribute to the rapid development of regions, increase incomes and living standards of the population, as well as increase investment attractiveness. Modern information technologies make a signifcant contribution to the development of pilgrimage tourism. Advertising of online travel services in pilgrimage tourism currently does not allow you to automate the work of a travel Agency without creating an effective website. This article is devoted to the analysis of Internet technologies aimed at improving the tourism industry. The practical signifcance of the article lies in the use of modern information and communication technologies that support activities in the feld of the pilgrimage tourism in the region. Ancient architectural and historical monuments of our country are of great interest to the world community. In recent years, thanks to the ongoing work to develop tourism, the number of foreign tourists has been growing. Also, the tourism industry will develop new areas such as ecotourism, gastronomic tourism, agro-tourism, sports tourism, traditional cultural and educational events, festivals, and competitions. The efforts made in this direction in our country, which attracts tourists with its unique culture and traditions, picturesque nature and picturesque corners, along with ancient monuments, shrines, historical and cultural monuments, play a signifcant role in the further development of the tourism industry and infrastructure. This is evidence of the fact that the world travel and tourism council (WTTC) in the study «Economic results of the travel and tourism industry» noted that our country is one of the fve fastest-growing countries in the tourism industry

The Problems and Solutions of Strategic Brand Management

2014 ◽  
Vol 644-650 ◽  
pp. 5872-5875
Author(s):  
Ke Zhang
Keyword(s):  
Evaluation System ◽  
Large Scale ◽  
Joint Venture ◽  
Brand Management ◽  
Service Providers ◽  
Rapid Development ◽  
Tourism Industry ◽  
Travel Agency ◽  
Positive Role ◽  
Travel Agencies

In recent years, with the rapid development of China's economy, more and more standardized of all aspects, the tourism industry is also increasingly tending to mature, the number of tourists who have demand for public services is increasing, strengthening travel agencies’ strategic brand management is the inevitable choice to the construction of China's tourism power, but also a positive role in the construction of local tourism services, which has important significance. Facing wide disparity of the Chinese and foreign travel, as well as the reality background of the large-scale foreign capital and joint venture travel into our country's tourism market, as well as the background of the relative lack of academic related research of the travel agency brand, in this paper, the problem of how to enhance the competitiveness of our country travel agency brands is discussed. This paper first defined the concept of travel brands, insufficient analysis of brand management of travel agencies, at present, China Travel Agency has reasonably insufficient number of service providers, service structure is irrational, the service system is imperfect, inadequate security and other issues evaluation system needs to be improved, this paper analyzes the issues and raises countermeasures, in order to provide reference for our travel agency.

Domestic Tourism in Nepal: Issues and Challenges

2020 ◽  
Vol 24 (1) ◽  
pp. 37-49
Author(s):  
Sandeep Basnyat ◽  
Suryakiran Shrestha ◽  
Bijita Shakya ◽  
Reeja Byanjankar ◽  
Shubhashree Basnyat
Keyword(s):  
Developing Countries ◽  
South Asian ◽  
Business Environment ◽  
Institutional Arrangements ◽  
Tourism Industry ◽  
International Tourism ◽  
Tourism Research ◽  
Semistructured Interviews ◽  
Domestic Tourism ◽  
The Government

Compared to international tourism, domestic tourism is less susceptible to external changes and provides a more stable business environment for industry stakeholders. Traditionally, the focus of a majority of tourism research has been international tourism. Existing domestic tourism literature predominantly focuses on the potential of domestic tourism and the measurement of its demands, but greatly ignores the issues and challenges in the domestic tourism industry. This article fills this gap and examines the issues and challenges the domestic tourism industry is facing with a focus on Nepal, a South Asian developing country. The data for this study were collected through semistructured interviews with 20 tourism industry practitioners. The findings of this study demonstrate how uncertainties created by the lack of institutional arrangements and prioritization, and confusion around the appropriate ways and means of managing domestic tourism have contributed to the chaos in the private sector tourism industry in Nepal. Implications for the government and other stakeholders in Nepal and other developing countries have been discussed.

scholarly journals Assessing the Environmental Impact and Cost of the Tourism-Induced CO2, NOx, SOx Emission in China

2021 ◽  
Vol 13 (2) ◽  
pp. 604
Author(s):  
Yalan Shi ◽  
Miaojing Yu
Keyword(s):  
Environmental Impact ◽  
Environmental Impacts ◽  
Full Range ◽  
Correlation Effect ◽  
Tourism Industry ◽  
Pollutant Emissions ◽  
Travel Agency ◽  
Sustainable Mobility ◽  
Industrial Sectors ◽  
Direct Emission

Tourism, as one economic activity, results in a full range of environmental impacts globally as well as in China. However, the evaluation of environmental impacts is insufficient because of the strong correlation effect between tourism and other industries. This study attempted to assess the environmental impact and cost of the tourism-induced pollutant emissions (in a broad sense) at the national scale through constructing the environmental-economic input-output model. Our results suggested that the China’s total emission of CO2, NOx, SOx related to tourism industry increased from 42 × 106 t, 162 kt, 345 kt in 1995 to 157 × 106 t, 527 kt, 854 kt in 2009. The indirect CO2, NOx, and SOx emissions of tourism and related industries were nearly 6.8–11 times of their direct emission in travel agency. Most of these indirect emissions (73% of CO2 in 2009, 54% of NOx in 1995, 62% of SOx in 2009) are derived from the energy plants and industrial sectors. The sustainable tourism should largely depend on the realization of sustainable mobility and transportation, through the low-emission behavior and energy-saving technology. The emission reduction cost of tourism industry in China was 30,170 and 172,812 million CNY in 1995 and 2009, accounting for nearly 14% of the total tourism revenue.

Ethical environment, accountability, and sustainability reporting: What is the connection in the hospitality and tourism industry?

2021 ◽  
pp. 135481662110626
Author(s):  
Amal Hamrouni ◽  
Abdullah S Karaman ◽  
Cemil Kuzey ◽  
Ali Uyar
Keyword(s):  
Sustainability Reporting ◽  
Business Environment ◽  
Tourism Industry ◽  
Global Reporting Initiative ◽  
Ethical Business ◽  
Ethical Environment ◽  
Reporting Practices ◽  
Institutional Forces ◽  
Hospitality And Tourism ◽  
Sustainability Report

Drawing on institutional theory, this study tests how the ethical behaviors of firms, in interaction with public officials and through the strength of accountability regulations, influence sustainability reporting practices in the hospitality and tourism (H&T) sector. The results indicate that firms operating in a highly ethical business environment are less likely than those in a less ethical environment to disclose a sustainability report. However, accountability yields the opposite result; firms established in environments characterized by high accountability are more likely than low accountability environments to issue a sustainability report, which implies a complementary effect between the strength of the accountability and the firms’ sustainability disclosures. This verifies that the weakness or strength of informal and formal institutional forces exert considerable influence on firms’ desire to carry out sustainability reporting. However, this influence is not true of the acquisition of external assurance statements and following Global Reporting Initiative guidelines, with which accountability has a negative and insignificant association, respectively.

scholarly journals An Analysis of the Influencing Factors of the End of City Logistics Distribution on the Base of Interpretive Structural Model

2016 ◽  
Vol 11 (7) ◽  
pp. 163
Author(s):  
Xinyi Dong ◽  
Hongmei Ju ◽  
Sifan Yin
Keyword(s):  
Influencing Factors ◽  
Structural Model ◽  
Rapid Development ◽  
City Logistics ◽  
Information Feedback ◽  
Logistics Distribution ◽  
Whole Process ◽  
Express Industry ◽  
Interpretive Structural Model ◽  
The City

<p>E-commerce has a rapid development with the advent of the Internet era, the era of “Internet +” also let many industries to find new opportunities. Now online shopping has become a mainstream to meet the needs of people’s life, especially in the developed cities, more and more people are willing to buy all sorts of goods in e - Bay, Amazon, Sunning, JD and other large e-commerce enterprises. Business enterprise needs to deliver intact goods quickly to customers to improve customers’ intention of purchasing. So the development of e-commerce and express industry is closely linked. The end of the city logistics needs to contact with consumers directly as the last part of the whole process in normal logistics distribution, which may occur some problems about the damage of goods, slow information feedback, service quality and other issues will reduce the satisfaction of consumers and affect reputation of companies. This article use ISM technology to analyze the influencing factors of the logistics of the ecommerce enterprise from the perspective of consumers, and divide all of the factors into three levels, each level contains different meanings which make a reference for the trend of development of the end of city logistics distribution. </p>

Overview on SMEs Family-run Local Coffee Shop in Malaysia: Challenges and Determinants of Survival

2013 ◽  
Vol 64 (2) ◽  
Author(s):  
Wai Choong Foo ◽  
Norkhairul Hafiz Bajuri ◽  
Kuan Yew Wong
Keyword(s):  
Food Industry ◽  
Small And Medium Enterprises ◽  
Tourism Industry ◽  
Intangible Cultural Heritage ◽  
Coffee Shop ◽  
Fierce Competition ◽  
Medium Enterprises ◽  
New Generation ◽  
Coffee Shops ◽  
General Association

Recently, The Tourism Minister has challenged the Malaysia-Singapore Coffee Shop Proprietors General Association to publish a booklet with a list of 100 best kopitiams in Malaysia to promote the nation’s unique coffee shop trade to the world. Local coffee shops (kopitiams) are the intangible cultural heritage that are successful in guarding their traditional recipe, thus an adequate review on local coffee shops is significant as they can use this opportunity to benefit from the country’s expanding tourism industry. In essence, this paper provides an overview of the Small and Medium Enterprises (SMEs) family-run local coffee shop businesses. An attempt was made to identify the challenges of local coffee shops (kopitiams) from literature review. These challenges include lack of interest from the new generation to take over those businesses, fierce competition in food industry, and change of consumer demand. Furthermore, this paper also helps to understand the determinants of local coffee shop survival.

Sign in / Sign up

Export Citation Format

Share Document