TUI Travel has also rolled out a comprehensive anti-bribery and corruption training programme across the group with the intent of preventing bribery and corruption in the countries in which it operates. It has set up and risk governance framework that enables top management to understand more fully the threats and opportunities in the marketplace, to match these against the strengths and weaknesses of the company and respond accordingly; the goal is that, at any given time, TUI Travel incurs the right level and type of risk to pursue effectively its strategic goals. TUI Travel staff members are the ones who ensure high customer satisfaction scores and repeat bookings. This transformation has begun and will enhance the efficiency and competitiveness of our classical tour operation business. This brought its weight to bear on results in our sector in the course of the financial year. TUI Travel has also set up a team dedicated to exploring and evaluating all the strategic options for growth opportunities for the emergent markets.
Today, 70 per cent of our operating result is delivered by holiday experiences developed and designed by us: hotels, cruise ships, excursions and activities in the holiday regions.
TUI Travel is also pursuing cost savings in its other activities including the centralization of back-office functions whenever it is appropriate and feasible. This risk management process is supported by proprietary risk software, making it an additional competitive advantage, which is helping to drive clarity, consistency, transparency and accountability at every level of the organization.
He is a reviewer and editorial board member of various international journals, most notably the International Journal of Technology Marketing, the American Journal of Business and the Journal of Technology Management for Growing Economies. Then, the nature of each risk is described precisely, including the possible causal factors that may give rise to the risk materializing. The plan focuses on leveraging TUI Travel existing distribution network, maintaining growth across Europe and expanding further into the Americas and Asia.
TUI Travel is also sustaining good relationships with its key bankers. Disclaimer: Eric Viardot has developed this case to be used as the basis for classroom discussion for programmes in management education, management development and for practicing executives to understand world class operations and enhance skills in decision making. This is where we are seeking further growth. The goal is to be the first place customers turn to for their accommodation needs.
As a consequence, this poses a challenge from a sustainable development perspective: the growth of an industry highly dependent on fossil fuels and biodiversity in a world of finite natural resources. The terms for previous years were renamed accordingly. For the tour operator business, focus is to offer unique and tailor-made holidays and not merely a standard vacation package. Estimated 10m travelers were stranded as more than 63, flights to or from 23 European countries were cancelled.
It is also fostering an environment which nurtures new ideas and innovation. Risk Management at TUI Travel A key success factor of TUI Travel is the way the company has organized to deal with all sorts of risks, as TUI Travel businesses are made within a highly volatile environment and includes a significant number of operational perils. The further businesses of former Other Tourism and All other segments have been combined into All other segments. Consequently, TUI Travel has instigated different measures to mitigate the financial risks.
It is not intended to illustrate either effective or ineffective handling of an administrative situation. Following this compliance, in for instance, TUI Travel has followed the ruling by the European Court on delayed flights with the setting of the appropriate monitoring controls. Moreover, TUI Travel has collaborated with small tour operating businesses in China and India in order to get more experience in those markets before considering future expansion plans. TUI Travel considers that the geographical diversity and reach of its offer will be the key growth driver in the online accommodation business with a strong emphasis on emerging markets. The company has recently entered the Latin American market through the acquisition of MalaPronta. It has set up and risk governance framework that enables top management to understand more fully the threats and opportunities in the marketplace, to match these against the strengths and weaknesses of the company and respond accordingly; the goal is that, at any given time, TUI Travel incurs the right level and type of risk to pursue effectively its strategic goals.
So in , the company has launched its Sustainable Holidays Plan TUI Travel is the leading tour operator in Europe with strong positions in each of those four markets owing to a portfolio of unique locations, strong product knowledge and outstanding customer experience. This summer, we purchased the Milan-based technology start-up Musement. The specialist and activity business is a niche market which has a wider geographical reach and a strong potential for growth. Travel sector relief over Iceland volcano ash cloud. It is not intended to illustrate either effective or ineffective handling of an administrative situation.