Tourism in New South Wales Essay Example for Free

Tourism in impertinent South Wales EssayIntroduction This paper seeks to answer given up questions in relation to tourism and impress constancy at New South Wales including evaluation the impressiveness of measures taken, difference of approach for Asiatic countries affected by crisis, knowing how to incorporate crisis management in an organizations note strategic plans and how to reduce ill-treat from unseen contingencies. Questions and Answers2.1. Do you think the measures taken by Tourism New South Wales were effective in helping the travel and tourism industry? The measures taken by the Tourism New South Wales (TNSW) were effective in helping the travel and tourism industry in the sense that the outcome was a minimized reduction inflow of total visitors to the state with careful management of the crisis. It was further mentioned that TNSW succeeded in defusing the industry fierceness and ensured that the industry was adequately informed, which gave the industry di rections how to conduct its short and medium-term strategy in retort to the crisis. As a result, the industry, did non abandon the region in question entirely, which could hasten led to a very damaging loss of face and front in many of the markets (Gray and Fletcher, n.d.). An analysis of the measures taken revealed concern rather than alarmed in terms of initial response taken by TNSW to address the crisis. TNSW identify the crisis at the earliest time possible by tapping industry contacts and commentary by its regional officers in the affected areas. It helped to see the extent of the problem when presidency statistics on inbound tourism became available for decision making. Since by that time, several media sources had been painting a bleak picture of the entire Asian-based tourism industry, which thereby created hysteria within the travel and tourism industry as a whole, TNSW has responded responsively accordingly. TNSW conducted its own analysis on the temper and extent o f the crisis, and how it affected the travel and tourism industry on a country-by-country basis. By monitored the news reports for accuracy and senior levels, TNSW disseminated information through the press to paint a more comprehensive picture of what was rattling happening as way of damage control to what the press has earlier reported. TNSW revived confidence and calmed down the hysteria generated through some speculative sloped reports (Gray and Fletcher, n.d.). Instead of world alarmed TNSW was able to provide leadership on how the industry should respond and to provide forecasts which it used to project the nature and extent of the recuperation in all markets. Based on forecasts made, it was able to see where it could take advantage opportunities and minimize the effect of industry threats (Kotler,1994 Kotter and Schlesinger,1991 Porter, 1980). As part of its many tactical decisions, elusion facts mentioned the allocation of a larger portion of its budget to Asian region being diverted to other key growth markets such as the USA and Europe. TNSW applied careful marketing investment decisions in Asia on the basis of analysis of which markets would recover first. It was able to observe which of the markets showed evidence of rebound plot of ground ensuring that it would not lose presence and awareness in those markets. How will the approach differ for the Asian countries affected by the crisis? The approach will differ for Asian countries affected by the crisis in terms of giving priority where risks caused by the Asian crisis should be brought at the minimum by allocating more budgets for Asian countries than the persist that could produce more revenues or slight amount of loss. To implement this kind of strategy, those countries which could give earlier recovery in terms of more revenues or less amount of loss should be viewed in the proper values of currencies of each of the countries. To illustrate, some of the Asian countries have smaller deva luation of their currencies than others in relation to the US dollar or those which has shown smaller decline in number of visitors are less affected. Case facts say that the impacts of the crisis from Korea and Hong Kong were alarmingly low at the end to 1997, falling by closely 90% from the previous year. Between the two Hong Kong has shown faster recovery. Japan in comparison showed smaller decline in number of visitors by about 6% in 1997, 19% in 1998 and 8% in 1999. Thus it was more proper to invest more in Japan that with Korea and Hong Kong. Countries such as Korea, Indonesia, Malaysia and Thailand appeared to have held up well in 1999 after their being badly affected during the crisis, thus these countries could receive higher budget allocation in 1999 and afterwards. TNSW could not just abandon Asian markets because they constitute about 40% of all NSWs visitors (Gray and Fletcher, n.d.).2.3. The travel and tourism industry is often exposed to uncertainty, risk and disast er. How chief(prenominal) is to incorporate crises management in an organizations strategic business plans. It is important to incorporate crises management in an organizations strategic business plans because failure to do would leave the country or nation unprepared to such eventuality and it is such a big risk to face in terms of loss revenues. In the case of New South Wales, the tourism industry income represents about 10% of the state economy and the government is as well as depending from the very(prenominal) industry to employ thousands of its people, thus the decision of TNSW is critical and very important to making its strategic plans. Incorporating therefore crises management to an organizations strategic plans is the aforesaid(prenominal) as preparing for contingencies in the major part of the economic plans for New South Wales. For a nation to lose big amount of revenues amounting to billions of US dollars and thousands of employment opportunities is also courting ot her problems for its people politically, socially and even psychologically. To incorporate crises management therefore in an organizations strategic plans amounts being complete and earthy in preparing strategic plans (Churchill, Jr. and Peter, 1995 Cooper, L. 2000). Strategic plans are meant to attain objectives which include the characteristics of being specific, measurable, attainable, realistic and time-bound. To prepare for any eventuality including possible crises is just being realistic with possible events in the future and therefore including crises management in strategic business plans of an organization is deemed part of well prepared strategic plan.2.3. The unprovided for(predicate) can happen to an overseas market or group of markets. What should international strategic marketing plans incorporate to reduce damage from unseen contingencies? To reduce damage from unseen contingencies, the following should be incorporated in the international strategic marketing plans (1) A eventuality plan that could address all possible scenarios (2) The contingency plan should endure management a sober analysis and interpretation of anecdotal and statistical information for decision making (3) The contingency plan should allow dissemination of information to industry players to allow responsible decisions (Gray and Fletcher, n.d.) (4) The plan should provide leadership in terms of how to respond properly with the contingency and (5) The plan should have forecasts (Brigham and Houston, 2002 Weston and Brigham,1993 Helfert, 1994) that could project the nature and extent of the recovery in all markets should the contingency happen (Gray and Fletcher (n.d.). Conclusion and Recommendation This paper has shown how an organization responded to unseen crises that it may not have foreseen as per case facts. A calculated response was however noted in addressing the Asian financial crisis effects on tourism and travel industry to NSW by TNSWs employing the elements of analysis and interpretation of anecdotal and statistical information, dissemination of information to industry, providing leadership in terms of how to respond to the crisis and providing forecasts which projected the nature and extent of the recovery in all markets. The crisis was essentially external to TNSW but company appears to have been prepared despite any indication in the case fact that it did not foresee the same. The response therefore is an indication of preparedness that must formally form part of organizations strategic plans. In additional international strategic marketing plans should incorporate contingency plans to reduce damage from unseen contingencies and that such contingency plans must be workable chthonic different conditions. Organizations are therefore recommended to always be prepared and the best kind of preparation is integration of contingency plans on their strategic business plans.References Brigham and Houston (2002) bedrock of Financial Management , Thomson South-Western, London, UKChurchill, Jr. and Peter (1995) Marketing, Creating Value for Customers, IRWIN, Sydney, AustraliaCooper, L. (2000) Strategic marketing planning for radically new products, Journal of Marketing, Vol. 64 Issue 1, pp.1-15.Gray and Fletcher (n.d.) Tourism New South Wales Experience in marketing tourism during the aftermath of the Asian financial crisisHelfert, Erich (1994), Techniques for Financial Analysis, IRWIN, Sydney, AustraliaKotler, P (1994) Marketing Management, Analysis Planning, executing and Control, London, UKKotter, J. and Schlesinger, L. (1991) Choosing strategies for change, Harvard Business Review, pp.24-29.Porter (1980) Competitive Strategy, Free Press, London, UKWeston and Brigham (1993) Essential of Managerial Finance, Dryden Publishers London, UK