Professional Orientation and Practice Coursework

Professional Orientation and Practice - Coursework Example The bid to privatise the sector was triggered by the 2003 Railway Act, allowing for private management of the services (Cassady, Maillart, Bowden & Smith 1998). The UK railway tracks are public owned and maintained by Network Rail; however, privately owned rail tracks also exist in tourist areas. To help manage the train services, the government appoints train-operating companies (TOCs). TOCs are awarded franchise to offer train commuter services depending on the validity of the license given. This means that a given TOC can only operate within certain time limit as dictated by the licenses awarded. Now, TOC that provide that are licensed to offer these services are many in number (Tobin 2012). Nevertheless, the increasing cost of trail fares has been a major concern within the sector, within many opting to use other alternatives (â€Å"Britain Has Worlds Highest Rail Prices – Survey 1997†). Competition brought about by the many TOCs has brought the need by individual b usinesses involved to put in place measures to ensure stability and profitability. On this matter, many TOCs franchised to offer their services are seeking ways of reducing costs in order to appeal and attract more customers. In order to maintain sustainability, TOCs operating within the United Kingdom believe that the best way is to maintain the existing fleet. Major part of the revenue is used in maintaining the fleets and carrying out inspection of infrastructures like rail tracks. Therefore, much train operating companies hold on to the fact that maintain ace is a priority in the sector. Presently, rail infrastructure has greatly been improved as is evident by the increase in speed train (Tobin 2012). Just as mentioned above, the major challenge lies with the need for each company to come up with measures to improve service delivery. For this reason, each of the companies is in a process of finding the best decisions that would offer competitive edge over the rest (Chaudhuri & S uresh 1995). TOC- London Midland Background London Midland is one of UK’s train operating companies, having an 867.4 kilometers of rail to cover. The main train operations of the company are carried out within the West Coast Mainline. It is also important to note that its franchise expires in June 2017 after it was extended from the initial date of September 2015. According to the information available in the company’s website, London Midlands Express and London Midland City are the main brands that are used in operations. London Midland makes its money from the sales of tickets to passengers. Now, customers are charged ?25 for every 100 miles of travel. According to the plans by the company, 60,000,000 passenger miles should be served per year, something that translates to 600,000 passengers per year. However, achieving this is guaranteed, as many potential customers prefer other means of transport because of uncertain economic times brought about by the recession. Th e company needs to make a decision whether to raise or lower the tickets by ?5. In order to bring the issue into perspective, it would important to note that London Midland company has numerous competitors like Cross Country, Euro star, East Coast, First Hull Trains, and Scot Rail, among others, and must thus make decisions that stand to boost its chances to survive in the market. Lowering the price by ?2

International Management Essay Example | Topics and Well Written Essays - 1250 words - 3

International Management - Essay Example From this paper it is clear that  in the fast changing global equation of socio economic development, it is important that efforts are made to ensure that better understanding of cross cultural values and business practices are developed. The need of the hour is that a comprehensive study of factors which may hinder the business negotiations are undertaken and efforts are made to mitigate the influence of those factors in furthering the mutual business development of the global community.  This study outlines that  The imperatives of the global business environment have transformed the traditional business practices to suit the business and cultural compulsions of the host business partners. the international business practices must take cognizance of the changed equation of business practice with reference to the changing socio cultural background of the country, where one needs to establish the business interests. National cultures are known to determine the negotiatorâ€℠¢s assumptions and thoughts which help to form business strategy and behavioral pattern.  Negotiations primarily involve six major steps: defining goals and objectives; understanding socio-cultural values of one’s business partner; identify main variables in the negotiation processes; gaining comprehensive knowledge of country’s legal framework and political compulsion which may have significant impact on business outcome; develop mutual trust and confidence building.