Critical narrative of your research findings and analysis of your own business sector (trends, market, growth areas) (approx. 500 words).
LABOUR is the key area to talk about here. Please relate as much as you can to labour trends.
The food or jewellery sectors are fine to talk about.
Please please please also pay a lot of attention to the Harvard referencing style. Thank you ! Following is an example of what you should write.
Critical narrative of my research findings on the tourism sector (APPROX 500)
The sector I have chosen to research and write about is the tourism and hospitality sector. Data from Deloitte (2013) indicate that the tourism economy was worth 9% of the UK’s GDP in 2013 supporting over 3.1 million jobs (equal to 9.6% of all jobs) (Deloitte 2013). The number of jobs in the tourism industry grew by 173,000 between 2010 and 2013, making it the fourth largest industry in the world after fuels, chemicals and automotives. The sector is predicted to grow at an annual rate of 3.8% in the next 12 years, which is faster than the overall UK economy. As such, it is likely there will be an on-going demand on qualified individuals to enable the industry growth and replacement of existing workforce. Based on the WTTC Travel & Tourism Economic Impact study (WTTC 2015), the direct contribution of Tourism to GDP was GBP61.9bn (3.5% of total GDP) in 2014, and is forecast to rise by 3.7% in 2015, and to rise by 3.2% pa, from 2015-2025, to GBP88.2bn (3.7% of total GDP) in 2025. The total contribution of Travel & Tourism to GDP was GBP187.7bn (10.5% of GDP) in 2014, and is forecast to rise by 4.0% in 2015, and to rise by 3.1% pa to GBP263.9bn (11.2% of GDP) in 2025. Travel & Tourism generated 1,892,500 jobs directly in 2014 (5.7% of total employment) and this is forecast to grow by 2.1% in 2015 to 1,932,500 (5.7% of total employment).This includes employment by hotels, travel agents, airlines and other passenger transportation services(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists. By 2025, tourism will account for 2,280,000 jobs directly, an increase of 1.7% pa over the next ten years. There are 249,000 tourism businesses in the UK (10% of the total number of businesses). Over 80% of tourism and hospitality industry businesses employ fewer than ten people. Turnover rates in the sector have declined significantly to 23% and 80% of people working in the sector are British (State of the Nation Report, People 1st, 2014). Research by People 1st (2014) indicates that there will continue to be strong demand on tourism and hospitality employees and in some cases companies need support and training to their employees who are, in many instances, are not qualified with a degree in tourism (People 1st 2014, Institute for Travel and Tourism 2014). This is becoming particularly important as a result of the move from manufacturing to service-based economy. Employers surveyed through the Institute for Travel and Tourism are stressing the importance of employing the right people, equipped with the right skills needed by the contemporary organisation, at the right time to lead a progressive career in the business world. It is therefore important that graduates seeking employment in this sector aim to respond to and be proactive towards the business and external environments and the knowledge, skills, and competencies required by organisations in the 21st century. Smith and Brown, (2015) suggest that graduates in the hospitality and tourism sectors may experience difficulties with developing skills to work for organisations which require employees to work relatively long hours, at times which make it difficult to find a good balance between home and work life and where pay may be lower than in other sectors.