Executive Summary pg. 3
Carnival Corporation Mission Statement pg. 4
Evaluation of Mission Statement pg. 4
Company Objectives, Strategies and Core Competencies pg. 6
Business Scope pg. 9
Financial Ratios - 2002 pg. 12
Company Strengths pg. 14
Company Weaknesses pg. 15
Value, Rareness, Imitability & Organization (VRIO) pg. 15
Value Chain pg. 16
Opportunities pg. 17
Threats pg. 17
Strategic Objectives & Relative Evaluations pg. 18
Strategy Implementation pg. 21
Balanced Scorecard pg. 23
References pg. 25
Vision Consulting has conducted a thorough evaluation of Carnival Corporation. Our ultimate goal in conducting this evaluation is to provide recommendations to Carnival Corporation in order to aid the company in obtaining a competitive advantage in the market, as well as providing strategies to aid the firm in outperforming its competitors.
Our team has examined the mission statement of the company, as well as current strategies, goals and visions that the company currently has in place. Additionally, we conducted a thorough internal and external audit analysis of the company. This analysis includes the opportunities and challenges facing the company, as well as the strengths and weaknesses that the company currently possesses. Below, you will find an overview of Carnival Corporation, including a brief business scope. You will also find the internal and external audits conducted by our firm.
After thorough consideration of the internal and external audit of Carnival Corporation, Vision Consulting determined several opportunities available to the company. You will find these opportunities listed below. It was then determined which opportunities available to the company could have the possibility of implementation. Those opportunities which our team felt were viable objectives were considered as possible company objectives. You will find the "pros" and "cons" of each objective listed below in the "Strategic Objectives and Relative Evaluations" section.
The "pros" and "cons" of each objective were evaluated. Vision Consulting reviewed the objectives and has recommended several of the objectives for strategic implementation within Carnival Corporation. The strategic implementation of each objective recommended for adoption is discussed in the "Strategy Implementation" section. Also included is a balanced scorecard for the corporation.
Carnival Corporation Mission Statement
"Our mission is to deliver exceptional vacation experiences through the world's best-known cruise brands that cater to a variety of different lifestyles and budgets, all at an outstanding value unrivaled on land or at sea."
Evaluation of Mission Statement
A detailed evaluation of the company's mission statement was conducted to access the effectiveness of the mission statement. The following factors were considered:
* Does the mission statement indicate a method of value creation?
Yes. The mission statement indicates that the company will create value by delivering exceptional vacation experiences, catering to a variety of lifestyles and by being the low cost provider.
* Does the mission statement indicate the company's principal product or service?
Somewhat. The mission statement indicates that the company "delivers exceptional vacation experiences" but does not indicate that the primary service is a cruise. However, the word "cruise" is mentioned within the statement. The mission statement makes it apparent what the primary business of the company is.
* Does the mission statement address the geographical area of service?
Somewhat. The wording of the mission statement makes it appear that the company is already well-established and well known around the world, leading the reader to believe that the company services the whole world. Specific geographical areas are not mentioned.
Company Objectives, Strategies & Core Competencies