What Is A Business?

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Before we start this report we must understand and ask our selves what is a business? Ok, so why do Tesco’s, Banks and Building Societies, market stalls all have the same aim and objective? Simple, because all of them have either a service or goods to offer their consumers and in return may or may not want revenue. So a business is an organization or group who are out there to provide a service or product to consumers. There are two different sectors to a business and they are the private sector and the public sector.

Business that are in the private sector are usually owned by shareholders and are aiming to make profit, whereas business that are in the public sector are owned by central government or local government and usually aim to provide a service. I will start the report by introducing and discussing the aims and objectives, along with many other topics for The Tussauds Group and follow it on to The Metropolitan Police. Introduction to The Tussauds Group The Tussauds group is an international attraction, who encounter over 14millon customers a year.

The Tussauds groups is a globally recognised tourist attraction venue and has venues In most busy city centers such as London, New York, Las Vegas, Amsterdam, Paris and many more. The Tussauds group has published the following statement on the internet, “The Tussauds mission is to dazzle visitors with the most captivating city center attraction in the world and the most diverse and exciting portfolio of the theme parks in Europe. ” The Tussauds group has fulfilled what they have stated above by providing visitors with various venues.

The Tussauds group in the UK alone has a number of attractions such as Madam Tussauds, Alton Towers, Thorpe Park, Chessington World of Adventures, Warwick Castle and British Airways London Eye. In Northern Germany they have acquired Heide Park, which is another exciting and thrilling theme park. Yet again another Madame Tussauds was opened at The Peak Tower in Hong Kong, Manhattan on 42nd street, New York, New Venetian Hotel in Las Vegas and Dam Square, Amsterdam.

If that was not enough, a Wax Museum was opened in Paris and finally, Port Aventura opens in Spain, again another exciting and mind blowing theme park. I will now look more specifically into the company and things which go on behind close doors. Ownership The latest expansion by the Tussauds Group comes six months after a change in ownership at the business. Dubai International Capital, a private equity firm backed by the Dubai government, paid i??

800m to take control. Mr Phillipson and seventy other managers of Tussauds came in for a combined windfall from the sale estimated at i?? 30m. The business is now part of a diversified group that includes a i?? 1bn stake in car group, DaimlerChrysler. Madame Tussauds has been running in London since 1802 and been through a succession of owners with Charterhouse Capital taking charge of the expanded recreation empire in 1998.

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