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Management Contract
A management contract is an arrangement under which operational control of an enterprise is vested by contract in a separate enterprise that performs the necessary managerial functions in return for a fee. Management contracts involve not just selling a method of doing things (as with franchising or licensing) but actually doing them. A management contract can involve a wide range of functions such as technical operation of Design, Procurement, management of personnel, accounting, Construction work, services, and training. Taking advantage of economies of scale, international reservation systems, and brand awareness, a large number of hotels in Asia run under management contract arrangements. It's common for contracts to span 30 years, with fees as high as 3.5% of total revenues and 6–10% of gross operating profit. Management contracts are also prevalent in the airline industry, particularly when foreign government actions restrict other entry methods. They're often employed in re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liability company. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and a company (such as a corporation or cooperative). Colloquially, the terms are used interchangeably. Corporations are distinct from Sole proprietorship, sole proprietors and partnerships. Corporations are separate and unique Legal person, legal entities from their shareholde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jurisdictions, civil law jurisdictions, or mixed-law jurisdictions that combine elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franchising
Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses some or all of its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. In return, the franchisee pays certain fees and agrees to comply with certain obligations, typically set out in a franchise agreement. The word ''franchise'' is of Anglo-French derivation—from , meaning 'free'—and is used both as a noun and as a (transitive) verb. For the franchisor, use of a franchise system is an alternative business growth strategy, compared to expansion through corporate owned outlets or "chain stores". Adopting a franchise system business growth strategy for the sale and distribution of goods and services minimizes the franchisor's capital investment and liability risk. Franchising is rarely an equal partnership, especially in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Licensing (strategic Alliance)
A license (American English) or licence (Commonwealth English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit). A license is granted by a party (licensor) to another party (licensee) as an element of an agreement between those parties. In the case of a license issued by a government, the license is obtained by applying for it. In the case of a private party, it is by a specific agreement, usually in writing (such as a lease or other contract). The simplest definition is "A license is a promise not to sue", because a license usually either permits the licensed party to engage in an illegal activity, and subject to prosecution, without the license (e.g. fishing, driving an automobile, or operating a broadcast radio or television station), or it permits the licensed party to do something that would violate the rights of the licensing party (e.g. make copies of a copyrighted work), which, without the licens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heathrow Airport Holdings
Heathrow Airport Holdings is a company that operates and manages Heathrow Airport based in London, England. It was formed by the privatisation of the British Airports Authority as BAA plc as part of Margaret Thatcher's privatisation of government-owned assets, and was once a constituent of the FTSE 100 Index. The airport has been owned since 2024 by the French investment fund Ardian (company), Ardian (22.61%), Qatar Investment Authority (20.00%), Public Investment Fund, Public Investment Fund (Saudi Arabia) (15.01%), GIC (sovereign wealth fund), GIC (Singapore) (11.20%), Australian Retirement Trust (11.18%) and China Investment Corporation (10.00%). BAA plc was bought in 2006 by a consortium led by Ferrovial, a Spain, Spanish firm specialising in the design, construction, financing, operation and maintenance of transport, urban and services infrastructure. In March 2009, the company was eventually required to sell Gatwick and Stansted airports. Eventually, over the following yea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indianapolis International Airport
Indianapolis International Airport is an international airport located southwest of Downtown Indianapolis in Marion County, Indiana, United States. It is owned and operated by the Indianapolis Airport Authority, and the airport serves over 50 non-stop destinations throughout North America, the Caribbean and Europe across multiple carriers. As of 2023, it was the List of the busiest airports in the United States, 47th-busiest airport in the U.S. and the busiest in Indiana with 4,788,376 passengers. The airport occupies in Wayne Township, Marion County, Indiana, Wayne and Decatur Township, Marion County, Indiana, Decatur townships in Marion County. IND is home to the second largest FedEx Express hub in the world; only the Memphis International Airport, FedEx SuperHub in Memphis, Tennessee, surpasses its cargo traffic. Largely because of FedEx's activity, IND consistently ranks among the top 10 busiest U.S. airports in terms of air cargo throughput. Republic Airways is also he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pittsburgh International Airport
Pittsburgh International Airport —originally Greater Pittsburgh Airport and later Greater Pittsburgh International Airport—is a civil-military international airport in Findlay Township and Moon Township, Pennsylvania, United States. About 10 miles (15 km) west of downtown Pittsburgh, it is the primary international airport serving the Greater Pittsburgh Region as well as adjacent areas in West Virginia and Ohio. The airport is owned and operated by the Allegheny County Airport Authority and offers passenger flights to destinations throughout North America, Central America, and Europe. PIT has four runways and covers . PIT is the largest civil/public airport in terms of land area in the state of Pennsylvania. First opened in 1952, the airport was initially served by five airlines and became a small hub for Trans World Airlines for over two decades. The airport underwent a massive $1 billion rebuilding and expansion that was largely designed to US Airways' specifica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outsourcing
Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another. The term ''outsourcing'', which came from the phrase ''outside resourcing'', originated no later than 1981 at a time when industrial jobs in the United States were being moved overseas, contributing to the economic and cultural collapse of small, industrial towns. In some contexts, the term smartsourcing is also used. The concept, which ''The Economist'' says has "made its presence felt since the time of the Second World War", often involves the contracting out of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises ( privatiz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Alliances
A strategic alliance is an agreement between two or more parties to pursue a set of agreed upon objectives needed while remaining independent organizations. The alliance is a cooperation or collaboration which aims for a synergy where each partner hopes that the benefits from the alliance will be greater than those from individual efforts. The alliance often involves technology transfer (access to knowledge and expertise), economic specialization, shared expenses and shared risk. A strategic alliance will usually fall short of a legal partnership entity, agency, or corporate affiliate relationship. Typically, two companies form a strategic alliance when each possesses one or more business assets or have expertise that will help the other by enhancing their businesses. Strategic alliances can develop in outsourcing relationships where the parties desire to achieve long-term win-win benefits and innovation based on mutually desired outcomes. This form of cooperation lies betwe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Direct Investment
A foreign direct investment (FDI) is an ownership stake in a company, made by a foreign investor, company, or government from another country. More specifically, it describes a controlling ownership an asset in one country by an entity based in another country. The magnitude and extent of control, therefore, distinguishes it from a foreign portfolio investment or foreign indirect investment. Foreign direct investment includes expanding operations or purchasing a company in the target country. Definitions Broadly, foreign direct investment includes mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans. In a narrow sense, foreign direct investment refers just to building new facility, and a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. FDI is the sum of equity capital, long-term capital, and short-term capital as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
