Report on the changes to LTM in recent years
TO: The Management team
From: Courtney Lowes
Written Report
Introduction
Changes at LTM in recent years
Over the past few years LTM has made a range of changes to the museum so they can improve it.
One example of this could be clearing the depots retail facility, since LTM made this decision they
have been able to create a new hub in which a range of internal sales can then occur. Since LTM is
now making more money for their internet sales they were then able to expand the business. Due to
technology now being such a huge fragment in our daily lives, LTM has made changes and improved
their website so that it is more modern and is updated.
Additionally LTM has been hosting events on Friday nights at the museum so that they can attract
diverse varieties of customers, which was a good way to make profits as more people were aware of
the museum. In 2014 LTM got a rating of 87 out of 100 from customers, showing that it has
improved and developed over recent years.
Finally LTM hired more cleaners in their business to make sure that the standards are kept high so
that the museum is of good quality and all their displays are presentable to their customers.
Findings
Success of the Company
Throughout the year LTM has given their best efforts to get more people to visit their online
website. IN 2013-14 their website was viewed by 1.2 million people, showing that there efforts have
paid off. This is good for LTM as more people are becoming aware of their existence and are
researching about it.
LTM has been open for 150 years all together, so in celebration LTM hosted a total of three events to
further promote their business which were based on art. LTM raised enough money to expand their
museum so that visitors can have the best experience possible. In 2013 they also improved their
cleaning and maintenance arrangements so that they could improve the quality and value for
money.
Profit and loss account
LTM has demonstrated that they are successful and a growing business, this can be shown by figures
on their balance sheet. In 2013 and 2014 the LTM has good ratios showing they had made a good
amount of money. In 2013 the ratio was 2.87:1 and in 2014 the ratio was raised to 3.82:1, the higher
the ratio is the better that the LTM are doing.
TO: The Management team
From: Courtney Lowes
Written Report
Introduction
Changes at LTM in recent years
Over the past few years LTM has made a range of changes to the museum so they can improve it.
One example of this could be clearing the depots retail facility, since LTM made this decision they
have been able to create a new hub in which a range of internal sales can then occur. Since LTM is
now making more money for their internet sales they were then able to expand the business. Due to
technology now being such a huge fragment in our daily lives, LTM has made changes and improved
their website so that it is more modern and is updated.
Additionally LTM has been hosting events on Friday nights at the museum so that they can attract
diverse varieties of customers, which was a good way to make profits as more people were aware of
the museum. In 2014 LTM got a rating of 87 out of 100 from customers, showing that it has
improved and developed over recent years.
Finally LTM hired more cleaners in their business to make sure that the standards are kept high so
that the museum is of good quality and all their displays are presentable to their customers.
Findings
Success of the Company
Throughout the year LTM has given their best efforts to get more people to visit their online
website. IN 2013-14 their website was viewed by 1.2 million people, showing that there efforts have
paid off. This is good for LTM as more people are becoming aware of their existence and are
researching about it.
LTM has been open for 150 years all together, so in celebration LTM hosted a total of three events to
further promote their business which were based on art. LTM raised enough money to expand their
museum so that visitors can have the best experience possible. In 2013 they also improved their
cleaning and maintenance arrangements so that they could improve the quality and value for
money.
Profit and loss account
LTM has demonstrated that they are successful and a growing business, this can be shown by figures
on their balance sheet. In 2013 and 2014 the LTM has good ratios showing they had made a good
amount of money. In 2013 the ratio was 2.87:1 and in 2014 the ratio was raised to 3.82:1, the higher
the ratio is the better that the LTM are doing.
