Management Buyouts Of State-owned Travel Agency In Shandong Province

So far, Management Buyout has been one of the most noticeable matters in China's civil corporates reforms. As a system innovation, MBO has showed the significance in working out the problem of high agency costs, motivating the entrepreneurs and improving the corporate govemance in civil corporates..Being one of the three most important factors in modern tourism, travel agency is the core of it. However, the system of civil travel agency in Shandong province has lead to serious problems in administration and management, which must be resolved in the civil corporates further reforms. MBO is the very way that is worth exploring for the civil travel agencies in Shandong province.The purpose of this paper is to introduce MBO into the system reforms of civil travel agencies in Shandong province, so as to speed up the reforms, improve the reforms and eventully achieve the goal of civil travel agencies' developments.The paper has made use of several study methods, such as history analysis, logical reasoning, case study and corperates investigation, declaring and demonstrating the view that "the civil travel agency in Shandong province should actively explore MBO during the system reforms". The contents of this paper include three parts: "what, why and how." That is: what is MBO, why should civil travel agencies in Shandong practise MBO and how should they do that. As for the paper's first aim is to change the idea , the second part is the first important of the three.The last part of the paper outlines all the study and stresses the view again. Besides that, the paper points out the obvious shortcomings in this study, which must be resolved in the next study.