B120 Tma 1
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- Date Submitted: 07/01/2015 01:28 PM
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TMA 01 – Original Travel
Part 1
a) The Stakeholders
A stakeholder is anyone who has a legitimate interest in a business. With Original Travel there are three main stakeholders who will have concerns about the direction that the business is going.
Stakeholder|Contributions|Concerns|
Owners – Nick Newbury, Tom Barber, Alastair Poulain |Responsible for the company’s success and profit|· Looking to expand the business and cater to different niches but do not want to wander too far· Nick Newbury is worried the business will lose its identity · The merge with Tim Best Travel could result in failure if not carefully monitored to cater different cultures|
Employees|Help to make Original travel run efficiently and have provided good customer service which in turn has built up customer loyalty as repeat custom accounts for 70% of business. |· Job cuts or pay cuts may occur if the company merges to revamp the team|
Customers|Have helped the business become successful by continual use and trust of Original Travel’s service|· Want the best deals available· Identify Original Travel with ‘The Big Short break’ – may feel the company is changing identity if they merge with Tim Best Travel |
b) STEEP ANALYSIS
‘The external environment is literally the world in which the business operates’ (Preston, p 17, 2012). A STEEP model is made up of Social, Technological Economic, Environmental and Political factors, all of which are external factors. Using this will let Nick Newbury identify the factors that are affecting his current situation.
Social
· Customers are starting to favour different holidays i.e. action packed instead of sitting by the pool all day.
· Spending habits have changed so customers want a better quality holiday over a short period of time rather than having to take two weeks off work.
Technological
· Most travel companies operate online therefore there is increasing competition for Original Travel who currently does not operate online....
Part 1
a) The Stakeholders
A stakeholder is anyone who has a legitimate interest in a business. With Original Travel there are three main stakeholders who will have concerns about the direction that the business is going.
Stakeholder|Contributions|Concerns|
Owners – Nick Newbury, Tom Barber, Alastair Poulain |Responsible for the company’s success and profit|· Looking to expand the business and cater to different niches but do not want to wander too far· Nick Newbury is worried the business will lose its identity · The merge with Tim Best Travel could result in failure if not carefully monitored to cater different cultures|
Employees|Help to make Original travel run efficiently and have provided good customer service which in turn has built up customer loyalty as repeat custom accounts for 70% of business. |· Job cuts or pay cuts may occur if the company merges to revamp the team|
Customers|Have helped the business become successful by continual use and trust of Original Travel’s service|· Want the best deals available· Identify Original Travel with ‘The Big Short break’ – may feel the company is changing identity if they merge with Tim Best Travel |
b) STEEP ANALYSIS
‘The external environment is literally the world in which the business operates’ (Preston, p 17, 2012). A STEEP model is made up of Social, Technological Economic, Environmental and Political factors, all of which are external factors. Using this will let Nick Newbury identify the factors that are affecting his current situation.
Social
· Customers are starting to favour different holidays i.e. action packed instead of sitting by the pool all day.
· Spending habits have changed so customers want a better quality holiday over a short period of time rather than having to take two weeks off work.
Technological
· Most travel companies operate online therefore there is increasing competition for Original Travel who currently does not operate online....