Identify the different stakeholders at Original travel, based on the case study and explore their contributions and concerns.
After reading the case study provided, my view of your company's current situation and external environment using the concepts from Session 2 of B120 Book 1 are as follows:
Primarily, I would like to identify the stakeholders at Original Travel and discuss their contributions and concerns.
The founders: Yourself, Alastair and Tom. Together you have created a successful business in the travel industry providing tailor made holidays and short breaks for customers. You also have a desire to expand the business which could be a benefit to all concerned. I see you have concerns about changes in customer spending patterns and a loss of business due to sociological and economical factors. There are also concerns about your company losing its identity if it merges with Tim Best.
The customers: They have been loyal with their repeat custom and referrals, spreading the word which in turn can create new custom. Customers may also be concerned about environment issues in regards to air travel and getting value for their money.
The employees: The growth of the company suggests that you have have employees that understand the needs of the company and are committed to achieving company objectives. Concerns may be the loss of jobs if the merger happens and if the company will lose its identity.
I have a few suggestions below which I believe could have a positive impact on your business.
I believe you should establish what the main demographic for the niche holiday is, and focus your marketing towards this. I also feel the importance of keeping the niche of the short tailor made holiday when merging with Tim Best. By doing this, Original Travel will keep its identity in an expanding and competitive market which you have displayed concerns about. Finally, I suggest getting the business into the e-commerce market. This could have a huge impact on your future as the internet is an extremely popular choice for researching and booking holidays, as according to the case study, “the last decade has seen further adoption of e-business platforms.” Also, the advantage of using social media to advertise your business could be cost effective as according to the case study, “Original Travel does little advertising.” Relying on word of mouth and loyalty is not enough advertisement, especially if you want to expand the business.
Part 1 (b)
Briefly explain why you think the STEEP model may be useful for Nick Newbury in understanding the external environment of the business. Create a simple STEEP analysis for Original Travel based on the case study.
I believe the STEEP model will be of benefit to Nick as it will help him gain a better understanding of the challenges the business may face before deciding on the integration of Original travel and Tim Best brand.
Sociological factors
Changes in the age and type of people looking for a tailor made holiday.
People's employment status and working hours.
Technological Factors
Increased popularity of booking a holiday via
