Question

Task: Reporting on economic,social and environmental ramification of COVID 19 You are working as a management accountant with Clean Living Limited, a large travel company that specialises in green tours- package tours to environmentally sensitive destinations. These type of tours had been growing in popularity among local and international tourists until the breakdown of the COVID 19 pandemic in December. The Clean Living Limited has branches in Australia, China, India, and Singapore. The company management had been contemplating to expand its open tours packages to the Arctic National Wildlife Refuge in Alaska and Serengeti safari park in Tanzania by the end of 2020. However, due to the worldwide spread of the COVID 19 as a pandemic, the company's current operation has become totally stagnant. The company's management is seriously considering redesign its strategic planning and operation to minimise the damage and to ensure future sustainable operations. Remember, your report is crucial for management to undertake immediate strategic changes. 5. The company management anticipates that the situation will get back to normal by the end of September Traditionally, the peak season starts from the beginning of November and continues until the end of March. In the meantime, they are contemplating the development on a sustainable Balanced Scorecard to regain its competitive position in the market within the shortest possible time. You are given the following list of variables related to the economic, social and environmental perspectives. Select one variable from each perspective that you consider as the most important, provide your argument in favour of your selection. Economic Profitability Diversification of tourism package Destination's competitiveness Pricing Employment Safety Health Environmental Natural heritage and biodiversity of the tourist location Cultural and historical heritage Contamination

Answer 1

With regards to Economic perspective, pricing is the most important factor for an organisation to regain the competitive postion in the market within the shortest time possible. Pricing is essential and has been always one of the most difficult decisions because of increased competition, counterfeit activities, regional trading blocks and volatile exchange rates. Consumers have different perception of the products depending on the price. Therefore, pricing products for consumers is a difficult task, mainly because a high price may cause negative feelings about products, and also a low price can be misleading on other products features such as quality.

With regards to Social perspective, safety is most important for an organisation in tourism industry to regain the competitive postion in the market.To regain the competitive position the organisation have to focus on customer safety while designing the package, so that customer gets confidence in taking the package as now because of Covid-19, customers are scared of travelling. Its our duty to ensure customers safety by making them understand about the place they are choosing to travel .

With regards to Environmental perspective, contamination is important for an organisation in tourism industry in situation like pandemic Covid-19. The destination we offer to customers should be free from contamination as it is the concern for the health of customers,