A strategic management analysis is intended to be conducted in the research paper on the package holiday company named Thomas Cook. The potency of the company will be judged and determined by applying various tools of analysis…
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Thomas Cook is an international operator of tours. The company stands out because of the participation of vacationers and tourists in order to ensure the vision of the company “The Whole World of Travel”. A publicist of English origin named Thomas Cook commenced the business operations back in the year 1841. The company accomplished growth at a quite higher rate in the industry of tourism through continued strategies of business. Strategies of group tourism and package tours are implemented by the company to make certain soaring share in the market and growth. The company with employee strength of 23,300 and sales of €7.7 billion is counted in the best three companies of travel services all over the globe and is the second best travel company in Europe (SAP, n.d.).
The growth of the industry of package holiday has been quite rapid. The earlier decade has given immense chance to a lot of people to visit, travel and avail holidays at such places that were formerly accessible only by the privileged and affluent. The industry of package holiday has become an industry of multi-million pound that is operated by handful big players and numerous smaller ones. The holiday packages are structured by ‘tour operators’ who ‘bundle together’ the assorted elements of a holiday into a ‘package’. The packages are available directly as well as through travel agents as well. The industry can be aptly expressed as oligopolistic meaning ‘competition among the few. ...
The industry can be aptly expressed as oligopolistic meaning ‘competition among the few’ (High Beam Research, 2011). There are essentially four companies in the industry of package holiday in the UK that carry over a million people every year (High Beam Research, 2011). The segmentation of the package holiday industry of the UK is shown in the model below: Category %Population Groups Wealthy Achievers 25.1 1. Wealthy Executives 2. Affluent Greys 3. Flourishing Families Urban Prosperity 10.7 1. Prosperous Professionals 2. Educated Urbanites 3. Aspiring Singles Comfortably Off 26.6 1. Starting Out 2. Secure Families 3. Settled Suburbia 4. Prudent Pensioners Moderate Means 14.5 1. Asian Communities 2. Post Industrial Families 3. Blue Collar Roots Hard Pressed 22.4 1. Struggling Families 2. Burdened Singles 3. High Rise Hardship 4. Inner City Adversity Source: (Williams, 2008) The reason behind choosing the company Thomas Cook is its international popularity. 2. Task A 2.1 PESTEL Analysis Political Severe laws of immigration and tight security as an outcome of terror attacks If few of the destinations are kept off-limits by the Foreign and Commonwealth Office, then the people visiting there will be refused insurance by the travel insurers Political instability affects package holidays Policies of taxation on tourism imposed by other countries affect the industry of package holiday (Scribd, n.d.) Economical A critical role is played by the exchange rates in the trade of package holiday. Greater stability in the exchange rates would have a constructive impact on the package holidays Globalisation has a good impact on package holiday as more companies are entering new markets Recession affects the industry of package holiday
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