In this report as requested, I hope to help you understand the current situation of your company Original Travel. From the case study I was able to identify the stakeholders in the company which are the Founders of Original Travel (Internal Stakeholders), Customers (External Stakeholders) and Tim Best Travel (Internal Stakeholders).
Founders of Original Travel (Internal Stakeholders) Your main concern is getting financial return from the business. You will need to keep other founders of Original Travel informed and are happy with any decisions made.
Customers (External Stakeholders) Customers of Original Travel have one main concern and that is getting the highest quality of service for their money. They have a high level of power but a level of interest. If you do indeed merge with Tim Best Travel there will be more variety for the customers. Tim Best Travel (Internal Stakeholders) They have main concerns as you, they will be worried that merging the companies may affect their client base and overall structure in the company. I hope I have helped highlight areas of concern from different stakeholders. Kind Regards,
(Y/N)
(186 words Part a)
Part 1 b)
I think that a SWOT analysis will benefit Nick as it will help to define his business and give him further insight and will perhaps help in making a decision for the future of Original Travel. It will also help him create business goals and develop strategies in achieving them by finding out the weaknesses, strengths, opportunities and threats his business faces. Here is the SWOT analysis I have created for Original Travel.
Galvor Company Business Plan
Case 10-3: Galvor Company Background Galvor Company was founded in 1946 by owner, and president M. Georges Latour. The company had acted as a fabricator, buying parts and assembling them into high quality, moderate-cost electric and electronic measuring and test equipment. Latour had always been personally involved in every detail of the firm's operations as in most family businesses. Fiscal ...
Strengths –
Niche business which offers different services than others. Wide variety of travel options
Loyal customers and consistent referrals.
Weaknesses –
Demands have changed and the company needs to change to meet them. Offering short holidays limits their customers.
Not much advertising done. Lots of people do not know about the company.
Opportunities –
Merging with Tim Best Travel so they can offer more to customers
Threats –
Other companies have lower prices
Merging may affect what the company can offer
(151 words part b)
Part 2)
TGF 1.1 – What makes a good business?
I didn’t contribute towards this discussion but from what I observed most people in this discussion felt that good customer service is key to a good business. Whether it be a service/product the business is providing or how the employees treat the customers by making them feel they matter. I think it’s also important on how the actual businesses treats the employees also as if an employee is treated badly it could then effect how the employee feels toward the business and may not treat the customers as they should. I hope next time to participate in the discussion and contribute what I have to say.
References
Preston, D, Fryer, M, Watson, G (2012), What is a business? Milton Keynes, The Open University. The Open University (2011) B120 Study Companion,
“Study Companion”, Milton Keynes, The Open University1
