Alton Towers Resort Business of Leisure

ALTON TOWERS RESORT AS A BUSINESS

Business-mania

• • • In pairs, list as many different businesses as you can...

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What is a business?

• A business is an organisation set up to offer goods and services to individuals and organisations that want them.

• • Goods: things you can touch Services: things that people do for you or offer to you

Merlin Entertainments Group

• • • Alton Towers Resort is part of Merlin Entertainments Group.

The second largest leisure organisation in the world after Disney.

Leading name in location based, family entertainment which has seen the most successful and dynamic growth of any company in the sector over the last five years.

Aims and objectives

• • • • All businesses have aims and objectives they need to meet to be a success.

Aims are overall goals that the business exists to fulfil. Objectives are specific targets that need to be met to fulfil the aims. A mission statement communicates the businesses’ values, vision, and purpose.

Aims and objectives

Businesses may have different aims that they need to fulfil to succeed: 1. To be profitable 2. To provide a service 3. To promote a cause.

• • • • • • •

Merlin Entertainments Group’s aims

Deliver unique, memorable and rewarding experiences Develop brands that are distinctive, challenging and innovative Deliver the best financial returns in the sector Demonstrate a record of growth in market share Train committed and passionate employees to deliver fun, happy and exciting experiences Deliver prompt, professional and exceptional service Be an exciting company to be involved with.

Values

Merlin Entertainments Group has values that set out how the company should work to consistently deliver memorable experiences:

All for One

We are one group & one team We value differences We listen We discuss, we decide, we do We share success

That’s Entertainment

Make it fun Be passionate & proud Be positive Believe in what you do Make a difference

Forever Forward

Always look ahead Always lead not follow Always push boundaries Always put safety first Always do the right thing

Facing Reality

Keep close to customers Keep close to our competitors Keep close to the market And take responsibility

Example mission statement

Coca Cola

“Our Mission declares our purpose as a company and serves as the standard against which we weigh our actions and decisions. Our mission is: – To refresh the world... – – To inspire moments of optimism and happiness... To create value and make a difference.”

Example mission statement

The Jeremiah Program

“The Jeremiah Program, a broad-based collaborative community initiative, assists low-income mothers and their children to help themselves complete their education and achieve economic self-sufficiency through empowerment skills, access to affordable housing, child development services, health care, support services and meaningful employment. The Jeremiah Program mothers and children develop positive self-esteem and clarify their values on which to build a successful life.”

Merlin mission statement

“Merlin Entertainments Group is a leading name in location based, family entertainment. Its aim is to deliver unique, memorable and rewarding experiences to millions of visitors across its growing estate, and it achieves this objective largely thanks to the commitment and passion of its managers and employees. Merlin’s brands, while being household names, will never fail to be distinctive, challenging and innovative. They will, in short, have attitude! They will deliver the best financial returns in the sector and demonstrate a record of growth in market share that will be unrivalled. In every respect and to every group of stakeholders Merlin will always be an exciting company to be involved with.”

Making a profit

• • All of the goods and services that Alton Towers Resort provides cost money. Examples of Alton Towers Resort’s costs include: – Staff wages – – – Raw materials Advertising costs Electricity/power costs To cover these costs, a business sells the goods or services it provides - this is known as income or

revenue.

The money left after all costs have been taken into account is the profit.

Matching exercise

Start-up costs Turnover Running costs Gross profit Net profit Sales

Definition

The difference between total revenue from sales and the total cost of purchases or materials.

These are costs that are paid by the business at the beginning to start up the business.

The amount of business done by a company during a specified period.

These are costs that are paid by the business for the day to day running of the business.

The exchange of goods or services for an agreed sum of money.

Gross profit minus all operating expenses such as wages and overheads.

What am I

Making a profit

Making a profit

Financial figure Turnover Gross profit Net profit Gross profit margin Net profit margin Calculation

Price x number sold = turnover Turnover – cost of sales = gross profit Gross profit – expenses = net profit (Gross profit / turnover)*100 Amount earned before any administration or selling costs are taken away.

(Net profit / turnover)*100 Net profit margin takes into account the selling costs and administration costs (expenses).

Organisational structure

• Alton Towers Resort has a decentralised structure which sets out: • Job roles • Levels of authority • Channels of communication Company Owners Senior Managers Middle Managers Junior Managers Support Staff

Security & Medical Sales & Marketing

Functional areas

Conference & Events Welcome Costume & Uniform Tech Services Development Experience & Entertainments Alton Towers Resort F&B Retail Finance Leadership Health & Safety HR Hotel

Functional area definitions

Finance Health and safety Human resources Leadership Sales and marketing IT Department Conferences and events

We manage how revenue and costs are spent and budgeted.

We work to protect employees and customers against any risks that may arise from working for Alton Towers Resort or visiting the Park. We are responsible for planning and implementing strategies and policies relating to the management of our employees. We plan all the strategy to ensure that Alton Towers Resort continues to succeed, develop and meet our evolving customers’ needs. We plan and manage all our communications to ensure that we retain our current customers and recruit new audiences to the Park. We provide assistance to employees with technology products, such as mobile phones, computers or other electronic goods.

We manage all events on the Park, from consumer events such as comedy nights, to corporate conferences or weekends away.