B120 Tma 01
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B120
An Introduction to Business Studies
TMA01
TMA01
CONTENTS: Page No.
Part I – Report on Original Travel 3/4
Part (a) 3
Identification of the different types of stakeholders at Original Travel and their contributions and concerns 3
Part (b) 4
i) Brief explanation of why a STEEP analysis may be useful in understanding how these factors in the external environment impact on the business 4
ii) A simple STEEP analysis for Original Travel 4
Part II: Contribution & Understanding - TGF 5
References 5
*
Part I – Report on Original Travel
To Nick Newbury
From Date: 6/5/2015
a.)
Stakeholders and their contributions/Concerns:
The stakeholders consist of five main groups:
The founders/owners, Employees, customers, Suppliers and competitors.
Founders/Owners:
Nick and the other founding owners bring a wealth of knowledge within the industry and passion to grow and develop the business. They have built a successful business and are now expanding into different areas of the sector. The diversification and merger is a concern to Nick and the owners, as they fear losing their brand identity. Nick is especially concerned, given the current climate, that drifting from their original values may not be the best thing for the business at this time.
Employees:
The employees at Online Travel understand their customers’ needs and offer fantastic service. This is a large contributing factor to repeat business and referrals. If the Merger with Tim Best goes ahead employees will be concerned that the increased level of staff, with similar experience, may result in job losses.
Customers:
The current customers of Online Travel have been extremely loyal and an important factor in growth by the success of referrals. The expansion into other markets/sectors may dilute and weaken the level of customer service offered and force them to look elsewhere to receive the service they desire.
Suppliers...
An Introduction to Business Studies
TMA01
TMA01
CONTENTS: Page No.
Part I – Report on Original Travel 3/4
Part (a) 3
Identification of the different types of stakeholders at Original Travel and their contributions and concerns 3
Part (b) 4
i) Brief explanation of why a STEEP analysis may be useful in understanding how these factors in the external environment impact on the business 4
ii) A simple STEEP analysis for Original Travel 4
Part II: Contribution & Understanding - TGF 5
References 5
*
Part I – Report on Original Travel
To Nick Newbury
From Date: 6/5/2015
a.)
Stakeholders and their contributions/Concerns:
The stakeholders consist of five main groups:
The founders/owners, Employees, customers, Suppliers and competitors.
Founders/Owners:
Nick and the other founding owners bring a wealth of knowledge within the industry and passion to grow and develop the business. They have built a successful business and are now expanding into different areas of the sector. The diversification and merger is a concern to Nick and the owners, as they fear losing their brand identity. Nick is especially concerned, given the current climate, that drifting from their original values may not be the best thing for the business at this time.
Employees:
The employees at Online Travel understand their customers’ needs and offer fantastic service. This is a large contributing factor to repeat business and referrals. If the Merger with Tim Best goes ahead employees will be concerned that the increased level of staff, with similar experience, may result in job losses.
Customers:
The current customers of Online Travel have been extremely loyal and an important factor in growth by the success of referrals. The expansion into other markets/sectors may dilute and weaken the level of customer service offered and force them to look elsewhere to receive the service they desire.
Suppliers...