Various measures that have been taken for the expansion process to take place include innovation of new design concepts, length of newly designed ships, new travel destinations around the world and activities on both on-board and offshore. In fact, the new strategies are designed to cater the expectations of all. The cruise industry has witnessed an increased popularization. It has emerged as a part of the tourism sector (Baird and Cartwright, 1999). It has gained enormous significance as a contributing factor in economic development. The cruise industry can be held as one of the examples of globalization. The number of ports on call is ever increasing and the industry currently constitutes of personnel around the globe. Multinational clientele is one of the characteristics of the industry and the industries currently pose its economic as well as political and social implications. In today’s world tourists are more inclined to experience the journey on sea. The industry exploits the interests of the consumers and enjoys huge consumer base (United States Environment Protection Agency, 2008). In fact the industry has emerged as the most popular transport facility next to airlines. The sector is characterized as financial crisis resistant and the modernized port structures have opened the gates for cruising vacation. The examined sector offers eventful, enjoyable as well as relaxing experience for millions of people from all around the world. It experiences small competition, as there are barriers to entry and exit. Moreover, extremely high costs are associated with the purchasing and the servicing of the cruising lines. The industry calls for high investment in the normal operation procedure to take place. All these factors influence the decisions on various aspects related to the cruise entrepreneurship as well as on the issues regarding the management and organization. Therefore, there is existence of bargaining power and the capability to take advantage from the economies of scale in the industry. However, size of the market influences such opportunities by two contradictory ways. As only few ship builders and developers of technology are present in the industry, it forces the cruise companies to accept the price offered from them. Again there are large numbers of equipment and food suppliers, which allows them to bargain on the prices offered to settle on the best price (Harlaftis, 1996). As the circle of competition is limited, the existing players can closely watch the emergence of any commercial threats and act accordingly. The market conditions are influenced by the economic conditions under the regime of constant competition. Some other general conditions that can impact upon the competition include sightseeing vacations, alternatives available other than meager vacations, thematic parks etc. The passengers on the cruise ship and the ability to have a firm clientele contribute a major part of the generated revenue for the industry. As the number of strategies undertaken by the companies came in force, it began to generate onboard revenue and the cruise fares are far away from what can be entitled as inexpensive. An
Abstract Table of Contents Abstract 1 2 Introduction 4 Literature Review 6 Management control 6 Contingency theory and relation with management control 10 Similarities and dissimilarities with hospitality industry 14 Impact of the culture of the sea on running a cruise ship 20 Methodology 25 Research questions 25 Recent accident of the Costa Concordia cruise ship in Italy 26 Relation between Cruise companies and the government 29 Prospects of cruise in Greece 33 Conclusion 39 References 42 Introduction When all the sectors are taken into consideration, cruise shipping is one of the fastest growing ones…
With the passage of time, the issue of the sovereign debt crisis has been getting worse. There are several European Union countries who have taken loans in order to survive in these circumstances and strive to make their overall economic condition better.
The paper looked at risk assessment applied by financial institutions as imposed by Basel II accord and the behaviour of shipping industry. Most financial institutions are trying to eliminate shipping finance because of these risks. This leaves the shipping industry with the option of finding other sources of financing.
The paper goes deeper to explore the likely social, political and economic effects of the eventual exit of the Greek nation from the bloc. It explores the mechanisms put in place by countries in the zone in order to help contain the effect of the growing economic concern in the Greek nation and how effective the methods are in helping contain the feared outcomes.
Currency, exchange rates, hedging strategies, procurement and asset value, marketing, demand versus supply, competitor pricing, and tonnage were only some of the considerations identified through secondary research in this industry. A primary study was conducted to determine correlations in real-life maritime shipping practice to the aforementioned variables and level of dependency in each of these areas in setting prices during recessionary environments.
Shipping markets are segmented into domestic, coastal and regional segments. Along with transporting passengers; shipping cargoes is also a profitable business. Business world believes shipping is the core system of maritime industry, but ports are also a major issue to look around.
Solar energy is one of them. The population of the Saudi Arabia is rising fast and so the consumption of water in the country. Shortage of water and depleting sources of fossil fuel has prompted scientist and engineers to search for new technologies that are sustainable and eco friendly.
It also seeks to address the current opinion polls which are showing more and more people voting for Britain to leave the European Union. It showed a populous poll of 52% of the British citizens wanting to leave, 26% disagreed and 22% didn’t know, the vote for wanting to leave has increased primarily due to the European Union Crisis (The Times, 2012).
The Devolution of Greek Economy: The Report on the Effects on the Local Population and Rural Areas’ Architecture Industry: The Example of Chios Island. The human nature is bound to see the benefit and interest and change in order to fulfill the immediate needs and wants.
Climatic changes have presented scope for the Arctic and Sub-arctic intercontinental maritime routes. It is indeed a very contrasting situation. While on the one hand serious concerns are being expressed over the global warming and melting of glaciers, on the other hand, it is being seen as a good opportunity for trade.
The rip-roaring regional growth showed in the 10-fold increase in per capita income in South Korea, five fold in both Thailand and China, four-fold in Malaysia. Estimates were that as much as $100 billion in foreign money flowed into Southeast Asia alone in the form of short-term loans and portfolio investments.
43 pages (10750 words)Dissertation
Hire a pro to write a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Apply my DISCOUNT
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you another Dissertation on topic Cruise Shipping: Management Control and Prospects for the Greek economy for FREE!