Open University and Original Travel
B120 An introduction to business studies, TMA 01 Part 1 a)
Dear Nick Newbury,
In this report as requested, I hope to help you understand the current situation of your company Original Travel.
From the case study I was able to identify the stakeholders in the company which are the Founders of Original Travel (Internal Stakeholders), Customers (External Stakeholders) and Tim Best Travel (Internal Stakeholders).
Founders of Original Travel (Internal Stakeholders) Your main concern is getting financial return from the business. You will need to keep other founders of Original Travel informed and are happy with any decisions made.
Customers (External Stakeholders) Customers of Original Travel have one main concern and that is getting the highest quality of service for their money. They have a high level of power but a level of interest. If you do indeed merge with Tim Best Travel there will be more variety for the customers.
Tim Best Travel (Internal Stakeholders) They have main concerns as you, they will be worried that merging the companies may affect their client base and overall structure in the company.
I hope I have helped highlight areas of concern from different stakeholders.
Kind Regards,
(Y/N)
(186 words Part a)
Part 1 b)
I think that a SWOT analysis will benefit Nick as it will help to define his business and give him further insight and will perhaps help in making a decision for the future of Original Travel. It will also help him create business goals and develop strategies in achieving them by finding out the weaknesses, strengths, opportunities and threats his business faces.
Here is the SWOT analysis I have created for Original Travel. Strengths -
Niche business which offers different services than others.
Wide variety of travel options
Loyal customers and consistent referrals.
Weaknesses -
Demands have changed and the company needs to change to meet them.
Offering
Dear Nick Newbury,
In this report as requested, I hope to help you understand the current situation of your company Original Travel.
From the case study I was able to identify the stakeholders in the company which are the Founders of Original Travel (Internal Stakeholders), Customers (External Stakeholders) and Tim Best Travel (Internal Stakeholders).
Founders of Original Travel (Internal Stakeholders) Your main concern is getting financial return from the business. You will need to keep other founders of Original Travel informed and are happy with any decisions made.
Customers (External Stakeholders) Customers of Original Travel have one main concern and that is getting the highest quality of service for their money. They have a high level of power but a level of interest. If you do indeed merge with Tim Best Travel there will be more variety for the customers.
Tim Best Travel (Internal Stakeholders) They have main concerns as you, they will be worried that merging the companies may affect their client base and overall structure in the company.
I hope I have helped highlight areas of concern from different stakeholders.
Kind Regards,
(Y/N)
(186 words Part a)
Part 1 b)
I think that a SWOT analysis will benefit Nick as it will help to define his business and give him further insight and will perhaps help in making a decision for the future of Original Travel. It will also help him create business goals and develop strategies in achieving them by finding out the weaknesses, strengths, opportunities and threats his business faces.
Here is the SWOT analysis I have created for Original Travel. Strengths -
Niche business which offers different services than others.
Wide variety of travel options
Loyal customers and consistent referrals.
Weaknesses -
Demands have changed and the company needs to change to meet them.
Offering
References: Preston, D, Fryer, M, Watson, G (2012), What is a business? Milton Keynes, The Open University. The Open University (2011) B120 Study Companion, “Study Companion”, Milton Keynes, The Open University1