Eco Guide Academy Final Report
Transcript of Eco Guide Academy Final Report
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MAKERERE UNIVERSITY
SCHOOL OF FORESTRY BIODIVERSITY AND TOURISM
DEPARTMENT OF BIODIVERSITY AND TOURISM
BACHELORS OF TOURISM
NAME REGNO SIGNATURE
NAYIGA ROSEMARY 09/U/6264/EVE
NAMBAYO BARBARA 09/U/5943/EVE
NAIGA SHAMIM 09/U/6244/EVE
NAMPEWO CHRISTINE 09/U/6259/EVE
NNASSINDE MARIA SSEWAYA 09/U/6270/EVE
NAKACWA DOREEN 09/U/6247/EVE
NAZZIWA ESTHER RESTY 09/U/6265/EVE
AMOIT RITA 09/U/6204/EVE
NABASSA PENELOPE 09/U/6239/EVE
OKECH COLLINS 09/K/18165/EVE
MAGRETH THOMAS 09/T/17165/EVE
RWAMUKAGA LEILA 08/U/16984/PS
MIGAMBA PEACE JULIET
SSEBUUMA SHAFIK
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TABLE OF CONTENTS
Executive summary.. 3
Our vision..4
Mission..4
Our role..5
Strengths of the company....5
Weaknesses of the company...................................................................5
Opportunities6
Threats..6
Factors for the success of thebusiness.7
Objectives.7
Company history...9
Company and industry profile...10
Market strategy.10
Pricing.12
Distribution
Competitor analysis.......13
Description of management team.....14
Plan of operation17
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Loan proposal..18
Estimated budget expenditure19
Accounting equations for transactions made.19
Statement of financial position..22
Marginal income costing statement....23
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ECOGUIDE ACADEMY.
EXECUTIVE SUMMARY.
INTRODUCTION
Eco guide academy is a professional-field oriented training centre to produce
skilled and knowledgeable tour guides with a touch of professionalism. The boom
of the tourism industry has indicated a vivid gap between visitors and tour
personnel. They dont seem to possess adequate information about their
destinations and services. They dont express themselves eloquently and
articulately. They dont have confidence and what better way is there than to show
confidence, eloquence and skill in the eyes of a tourist! Eco guide academy
believes in professionalism in all services delivery.
In Eco guide academy, we considered this as the business model. Internal
management consisting the management team, marketing departments that will
embark on intensive marketing and publicity, instructors who are well exposed in
the field with adequate skills and confidence, financial controllers who will expose
the assets and liabilities of the academy in both the short and long run. The
mission and vision of the eco guide academy both project long term ventures that
will require commitment, dedication and sacrifice to allow kick off of the business
and growth. The academy plans on numerous branches of training centers in
almost all locations of tourist attractions and natural resources with major
emphasize on remote and natural attractions.
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The functional structure/ management team is part of the internal competitive
advantage that is fully qualified with skills and training in the said field. Our team
doesnt only have the knowledge but also the strong commitment and dedication
will make this project a practical dream that will eventually cut across national
borders. Each member of our team has been allocated the position that best spells
out his personality and uniquely fits with his or her skills and qualifications.
With the market already studied and identified, marketing strategies have been
devised and polished to achieve the projected vision of the business. The financial
managers have thus projected the companys finances over a period of 5 years
from the start date. With the 10 million investments, after a period of 2 years, eco
guide3 academy should be in position to generate 6 million annually (we are a
small firm that is still new). We intend to focus only on 60% of our intended
investment in capital and maintain the 40% as owners equity which will cover any
other business.
The academy is willing to start on loan repayment after the first business/economic
year and it will be in position to pay 10% of the debt annually at the interest rate of
2% p.a. since ours is a service company, we intend to make it as tangible as
possible, so, alongside the training centre is a fully stocked information centre on
books, maps and a gadget shop. This is where we intend to make our first shilling
and thus this explains our strategic location so as to capture those ill-equipped
tourists for our first shilling.
OUR VISION
To become a professional learning field academy for professional tour guides.
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Disagreements among the staff members staff which affects the performanceof the company.
Absenteeism and late coming of some companys members which delaysdecision making.
OPPORTUNITIES
Located near tourist destinations thus being accessible to both tourists andthe trainees for carrying out field work.
The uniqueness of the tourist destinations, the un spoilt wilderness, and thespecial combination of both nature and rich culture acts as a training and
practical field for trainees
Partnership with the stakeholders like the ministry of tourism wildlife andheritage, tour companies and the local community who control the tourism
development process.
Local community participation in the decision making process of thecompany since they are the hosts of tourism destinations.
THREATS
Stereotypes as ladies may not buy the idea having a belief that tour guidingis only meant for men.
Negative attitudes towards education on tour guiding since it has not been inexistence.
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Increasing effectiveness of competitors like PROTS in Tanzania, touroperators in Uganda.
Global economy causing inflation and currency is losing it value making ithard to raise enough income from students tuition and also gadget hire.
FACTORS FOR THE SUCCESS OF THE BUSINESS
Cooperation, determination, commitment and hard work of the companysmembers.
Our academy is field based making our academy more practical as studentsacquire more practical skills.
We get funds from donors thus sustaining our academy financially andoperationally.
OBJECTIVES
GENERAL OBJECTIVE
To provide professional and practical tour guides with adequate informationabout the tourism sector
SPECIFIC OBJECTIVES
To improve the image of tourism through training tour guides boththeoretically and practically.
To provide advanced knowledge and tactics about tour guiding. To provide useful equipment for tour guiding
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To provide skills and confidence among tour guides.
COMPANY HISTORY
We began our discussions as a group in our first academic year (2009/2010) when
we had just joined the university. Since then, we have managed to keep our
friendship together even though we have different personalities and most of the
time we do coursework and other class assignments together. This has made us
realize the importance of teamwork hence we have learnt how to stand each other
quit well and support each other through thick and thin.
This has made us realize that teamwork is important for the success of any
business venture when we were given this project by Deus our Entrepreneur
lecturer, we sat down as a group and came up with so many ideas which were all
constructive, some of the ideas we each came up with include Sports, butterfly
rearing , Chameleon rearing by Nnassinde Maria Sewaya , tourism gadgets by
Nazziwa Esther Resty, developing MUK as tourism destination Naiga Shamim,
fish pond by Amoit Ritah, Beach by Nabaasa Penelope, Airport by Nakacwa
Doreen, Information Resource Centre , Earthworm keeping by Nampewo Christine
, Bird keeping by Migamba Peace, Mountain biking by Nayiga Rosemary, political
history by Nambayo Barbara and industrial tourism by Okech Collins until we
finally decided to do a training school where Nakacwa Doreen and Nnassinde
Maria came up with the name ECOGUIDE ACADEMY came from ecotourism
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which conserves the natural environment, all the members in the group were in
favor of the ideal so we took it up and started this wonderful project.
COMPANY AND INDUSTRY PROFILE
Tourism is the worlds largest industry in the world. Uganda is endowed with
plentiful natural and cultural resources which can be basis for very lucrative
tourism industry creating employment and generating income. In the Lonely planet
magazine Uganda was voted as the best destination in the world 2011/2012;
however Uganda is competing on the world market and to penetrate that market it
is necessary to provide quality services. To achieve the quality services there is
need for trained persons therefore professional tour guiding has a great role in the
tourism industry because of the fact that from time to time tourists arrive in the
country and in doing so, they are left in the care of the tour guide many of which in
Uganda are not trained and lack practical skills. On the other hand tourists arebecoming more sophiscated and understand that they need value for their money.
We then came up with the idea of a tour guiding institution because of the rising
need of the industry and the tourists themselves.
Name: Eco Guide Academy Report Name date: 15th October 2011 Location: Uganda Primary category: S4 and S6 leavers and already existing persons under
trained guides.
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Secondary category: Tourism students interested in the field work.Abusiness strategy is designed to assess clients needs, develop a product or
service to meet those needs, communicate to the customer the attributes of
the products and services, establish distribution channels to make products
available to consumers and to ensure that the company makes a profit.
It looks at who, where, what, goals, how, why, and the challenges of thebusiness.
WHO- Eco Guide Academy. We need to have the knowledgeable and educated members of the
community concerning tourism and Tour Guiding in particular areas of the
country. These can help our students locate these places and provide
information which we shall make more practical while in the field.
WHAT (the product) Training school for professional Tour Guides. GOAL. To produce professional and practical Tour Guides with adequate
information about the tourism sector.
WHERE. We shall have branches in areas near tourism destination in thecountry in order to ease our field work.
HOW. We shall provide field equipment for field work with the help fromfunding from the Government and the ministry of Tourism Wildlife And
Heritage.
WHY. We realized that there was a missing gap of well trained Tour Guidesin the country and therefore came up with the idea to improve on Tourism as
a sector.
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MARKET STRATEGY
Customer knowledge. We are going to study our customers both final
consumers and the trade through continuous marketing research and
intelligence gathering
Long term outlook. Take time to analyze an opportunity and prepare thebest product, commit our academy for the long run to make our academy a
success.
Quality strategy. Design products of above- average quality. Oncelaunched, the product is continuously improved.
Line extension strategy. Produce brands in several sizes and forms tosatisfy varying consumer preferences
Brand extension strategy. Use strong brand names to launch new products Multi- brand strategy. The art of marketing several brands in the same
product category. For example produce brands that meet different consumer
wants and that compete against specific competitors brands.
Heavy advertising. Make as many of these advertisements about yourproduct to attract a larger market.
Competitive toughness. We are going to out compete new competitivebrands and prevent them from gaining a foot hold in the market.
PRICING
Student charges: 530,000 @3months
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Gadgets Time/ duration Charges
Hired gadgets
Mountain climbing 24hrs 10,000shs
Nature walks 24hrs 15,000shs
Bungee jumping 24hrs 10,000shs
Maps 24hrs 6,000shs
Books 24hrs 10,000shs
Gadgets for sale
Mountain climbing 100,000
Nature walks 80,000
Bungee jumping 100,000
Maps 11,000
Books 5,000- 40,000
Guides for hire will range from 50,000-150,000
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Destination Duration Charges (UgShs)
National parks/ Reserves 24hrs 60,000
Forest reserves 24hrs 50,000
Mountain sites 24hrs 80,000
Cultural/ historical sites 24hrs 100,000
COMPETITOR ANALYSISExisting competitors,
Tour companies like Great lakes safaris. Education institutions likeNkumba University, among others who offer skills in tour guiding.
STRENGTH OF THE COMPETITORS
The popularity they have gained because of their long time existence in thefield of tour guides training. They offer additional courses on top of the he
tour guiding skills.
WEAKNESSES OF THE COMPETITORS
Many of them are not accessible; they are located far from thedestinations.
They do not provide practical skills because they lack the equipment.
POTENTIAL COMPETITORSIn the long run, tour companies may and education institutions may acquire some
of the skills that we offer and improve or diversify the products or services that
they offer.
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DESCRIPTION OF MANAGEMENT TEAM
GFTG
ST s
PRINCIPAL
HUMAN
RESOURCE
ACCONTS/
BURSAR
INSTRUCTORS
VICE PRINCIPAL
DIRECTOR
PUBLIC
RELATIONS
MARKETING
MANAGER
SECRETARY
STORESMANAGER
LIBRARIANSECURITY
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Director. The biggest share holder in the company. Has the final say in the
decisions made in the company. Directs the work of the company that is to say
gives the general direction of the company and also approves and introduces new
products.
Principal /manager. Monitors, motivates and controls the companys activities to
make sure the set goals and objectives are accomplished. Coordination and
supervision of other employees, protection of the companys assets and records to
ensure the growth of the company.
Vice Principal. In the absence of the principal, the vice must be in position to take
charge of her duties. In addition she is to help the principle in making sure the
company goals and objectives are attained, ensure growth of the company and also
the values and principles are upheld.
Accounts / Bursar. Responsible for all company finances, receipting and giving
out of money in the company. She is also in charge of balancing the books of
accounts, and interpreting them. Also enforcing financial policies like taxes.
Human resource. In charge of recruitment and selection of employees, welfare,
employee training, salaries and dismissal / demotion and promotion of employees.
Instructors. These are well trained personnel who will be in charge of training and
guiding the students in their training, they will also be in charge of the practical
field lessons.
Public relations. Is in charge of keeping a good image of the company to its
different publics. This she will do through media representation and other
diplomatic function.
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Stores manager. In charge of the equipment ensuring they are well kept and
maintained, their numbers delivering them and ensuring those rented are returned
in their right numbers and safely.
Sales manager. Increasing awareness of the companys products and services,
ensuring the right kind of advertisement is used for the right target markets to
increase the companys sales.
Librarian. The librarian is in charge of organizing and maintaining the books in
the library, providing consultation services about the literature in the library to the
clients updating the books and literature with rising innovations.
Secretary. In charge of all forms of registration, management of companys
information, in the company, biodata and that of its clients typing documents and
receiving clients, offering information to clients who may need it.
Kitchen management. She is to provide meals to the students and the staff; these
include breakfast, lunch and evening tea.
Security. With the rising terrorism threats there will be need for security. He will
be in charge of visitor registration, checking people coming in, and take of the
general security of the company.
PLAN OF OPERATION
Form of ownership. The company is limited by shares because its formation was
through the efforts of thirteen group members, thus the best way to reward
individual efforts.
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Decision making. This will be done by all share holders. However, the individual
with the highest shares in the company will make the final decision.
Compensation and benefits. For the clients, the company the company will base
on the guarantee method, a client who withdraws their money 30days afterpayment will be given full refund, within 15days half the payment made, and
below that 2% of half the price. For the staff members, compesation will be made
in form of dividends that will be shared according to the shares held by each
individual member. In the long run the company will provide other incentives like
transport, and other allowances.
Working schedules. Working days will Monday to Saturday 8am-6pm. Sunday
9pm -12noon. We will also have weekly meetings on Fridays 4pm to review
performance for the previous week and set targets for the next week. We also willhave board meetings twice a year to discuss the companys performance, another
issues that may rise up however abrupt meeting maybe held in case of
emergencies.
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ECO GUIDE ACADEMY
PO Box 5234,
KAMPALA.
UGANDA.
To Muhwezi Deus Kamunyu
College of agriculture and environmental sciences
Makerere University
Po Box 7062
Kampala
RE: APPLICATION FOR ALOAN TO START ABUSINESS.
On behalf of Ecoguide academy we request for a loan of ten million shillings to
facilitate our business venture.
Our company deals in training of tour guides, safety equipment rental to tourists
and information centre for information provision. The loan will be used in the set
of the project, purchasing of equipment and facilitation of other company
activities. Our collateral security is the transfer of ownership. It will give us great
pleasure if our request is granted.
Yours faithfully
Nambayo Barbara.
Director, Eco guide Academy.
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Estimated Budget for Ecoguide Academy for the month ended 31st
October
2011
Equipment 1,500,000
Stock 1,500,000
Rent 60,000
Furniture 1,500,000
Computer/Photocopier 1,500,000
Salaries 1,420,000
The loan payment will be made in intervals of 500,000 per month for a period ofone year. Our income will be gotten from fees paid by the students, renting of
safety equipment, and also from the information centre facilities as the charges are
stated in the pricing.
ACCOUNTING EQUATIONS FOR EACH TRANSACTION MADE FOR
ECOGUIDE ACADEMY FOR THE MONTH ENDED 31ST
OCTOBER 2011
i. Ecoguide Academy started the business with 10 million shs cashAssets = Liabilities + owners equityCash 10,000,000 = - + capital 10,000,000
ii. Used business cash to buy furniture at 1,500,000shsAssets = Liabilities + owners equity
Furniture 1,500,000 = - + capital 10,000,000
Cash 8,500,000
10,000,000 10,000,000
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iii. The Academy buys equipment of 1,500,000 using business cashAssets = Liabilities + owners equity
Furniture 1,500,000 = + capital 10,000,000
Equipment 1,500,000
Cash 7,000,000
10,000,000 10,000,000
iv. The Academy purchases machinery at 1,500,000 using the business cashAssets = Liabilities + owners equity
Furniture 1,500,000 + capital 10,000,000
Machinery 1,500,000
Equipment 1,500,000
Cash 5,500,000
10,000,000 10,000,000
v. Buys stock of gadgets and library books at 1,500,000Assets = Liabilities + owners equity
Furniture 1,500,000 + capital 10,000,000
Machinery 1,500,000
Equipment 1,500,000
Stock 1,500,000
Cash 4,000,000
10,000,000 10,000,000
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vi. The Academy will buy office stationery at 400,000Assets = Liabilities + owners equity
Furniture 1,500,000 + capital 10,000,000
Machinery 1,500,000
Equipment 1,500,000
Stock 1,500,000
Stationery 400,000
Cash 3,600,000
10,000,000 10,000,000
vii. The Academy will purchase 2 company vans on credit at 15,000,000Assets = Liabilities + owners equity
Motor van 15,000,000 loan 15,000,000 capital 10,000,000
Furniture 1,500,000
Machinery 1,000,000
Equipment 1,500,000 25,000,000
Stock 1,500,000
Stationery 400,000
Cash 3,600,000
25,000,000 25,000,000
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STATEMENT OF FINANCIAL POSITION
ASSETS Shs Shs Shs
NON CURRENT ASSETS
Motor van 15,000,000
Machinery 1,500,000
Equipment 1,500,000
Furniture 1,500,000 19,500,000
CURRENT ASSETS
Stock 1,500,000
Stationery 400,000
Cash 3,600,000 5,500,000
TOTAL ASSETS 25,000,000
EQUITY AND LIABILITY
Capital 10,000,000 10,000,000Owners Equity Liabilities
Noncurrent liabilities
Loan 15,000,000 15,000,000
Total liabilities 25,000,000
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MARGINAL COSTING INCOME STATEMENT FOR THE PERIOD
ENDED 31ST
OCTOBER 2011
Student sales (530,000*30) 15,900,000 20,900,000
Sales of equipment and gadgets (25,000*20) 5,000,000
Less marginal cost of production
Direct material 19,400,000
Direct labor 1,420,000 20,820,000
Gross contribution 80,000
Less fixed costs
Rent 60,000 60,000
Net profit 20,000