SG7001 Managing Strategy Operations and Partnerships
Task 2:
Proposing a corporate strategy for the Black Prince Holidays
Assessment of the competitive strategy of this company through the current strategy
Evaluating competitive advantage
The black prince holiday company mainly operates through Wales Europe and Scotland, the company specializes in providing quality boat services to their consumers for giving an exceptional experience. They are known for their services and are one of the most leading companies across Europe. The company has an annual income of more than 56 billion dollars and hence they are planning to provide a better service to their customers, they have a unique business approach for their business (Asante Antwi et al. 2021). The company has a global tie-up with other companies as well the local service providers are one of the main suppliers for this company. They are known for their on-time service, which is only possible, due to their connection with the hotels and the fast service due to early booking and appropriate strategic plan. The company provides a 24*7 online as well as call facility to provide better customer service and customer protection.
Available resources for the black prince holidays
The company has a special service for their canal boat rides and the barrow boat rides, for maintaining this service they have to provide appropriate resources, and the analysis of the resources should be done properly before prior booking (Baier-Fuentes et al. 2021). The company is bound to provide quality service, hence to maintain that BPH suggested the company invest in common resources like: “glass reinforced plastic”, “steel”, “equipment mooring”, etc. these can be considered as hard or human-made resources. On the other hand, to provide quality service the company has to invest in human-dependent resources such as the HR system and the analytical strategies of the company (Dayan et al. 2019). Other resources such as the management of the company and maintaining appropriate relationships with their employees as well as their consumers will help the company to provide the required service and will help them to achieve their desired goals and gain more customers including better consumer satisfaction. The GPS tracking and the company policies should be upgraded on regular bases and hence they should invest more in providing these services to their consumers.
Evaluating the correlation with the corporate strategies
The promoting strategy of this boating company is a threat to the UK government. The company follows several “Privacy policies” that include personalized websites and cookies for data protection. Hence, the company takes the matter of privacy with seriousness and they can provide better services as well as better correlation with the market (Dolan et al. 2019). The company provides online booking opportunities and the password protection of the company website helps the company to secure its data. As well the analysis of the value chain verification is one of the key responsibilities of the company. The company has taken a step-in investing in more skilled employees for the verification of consumer profiles and the up gradation of their website as well as the cookies used by the company. Hence, the corporate strategies of the company can be considered one of the most important strategies to be approached by the company personnel.
Detection of issues for this organization
Black prince holidays are one of the leading companies in the UK, though they have some areas to improve. The strategies used by the company for promoting its business are old traditional methods, hence it is harming the background research of the company and they are unable to reach all the consumers. The development of an appropriate marketing strategy is very important as that is the only way the company will be able to reach its consumers. One of the other drawbacks can be considered as their approach of booking luxury hotels for their consumers. The company provides online booking services but the hotel chains related to the black prince holiday company do not provide online booking (Falahat et al. 2018). Hence manual engagements are more time-consuming and cost-effective. The company often lags while booking the boats during the peak season, hence they lack provide quality service. These methods and approaches are causing damage to the company.
The pertinent issues are related to BPH’s propositions in the practical contexts are as following perspectives.
- Offer of “seamless boating” experience to the visitors requires effective changes as per the hospitality and lodging trends in the market effectively (Black Prince Holidays, 2022). Therefore, excessive market competition is effective in identifying BPH’s brand estimation of narrow boating services.
- BPH’s hospitality sector with narrow boating, the services started suffering from financial loss and less profit in the Covid-19 crisis and Brexit in the UK (Callegaro, 2020).
- Engine failure with other risk factors like “boat having a leak” stands to be a pertinent issue for BHP’s hospitality facilities.
Building effective trust issues alongside the brand reliability about “Black Prince Holiday” can accelerate more clients from the UK context. The narrow boating experience with affordable and sustainable tourism can accelerate BPH’s brand value in the UK. Undertaking a potential consumer-centric approach with cost-effective packaging services in the UK can initiate massive visitor flow for BHP. BPH requires assuring “consumer safety” as per government legislations. Therefore, the usability of a “gasoline engine” for continuous service for 1500 hours is effective (Clist et al. 2022). Employing a trained workforce, skilled employees, and professional IT and AI experts can develop the trending issues with proper consumer satisfaction (Bowles, 2018). Skill development and training accessibility standards can retain new clients for future visits to BPH in the UK.
Implementation of the narrow boat with high technology, sustainability with CSR values, luxury driving facilities, and customized hospitality framework for individual customers’ requirements can assure BPH’s success rate. Implementation of “Boat Safety Scheme” alongside “gasoline engine” with “12 and 24 volts of power” is important in assuring the quality services in BPH’s hospitality services and narrow boating. The above-mentioned factors are important in identifying BPH’s pertinent issues regarding the sustainability standard in hospitality services. As per the cost estimation, in the Covid-19 context, BPH faced a loss of up to 6.5% with at least £168 million (Black Prince Holidays, 2022). Furthermore, 37% of job losses have affected the ground for BPH’s service segmentation more crucial under the global pandemic. Alongside this, Brexit in the UK is another vital ground that caused financial challenges in market operations. Under Brexit, BPH’s share faced a decrease of 17% with a £303 million loss as per FY2018-FY2020 (Duggan, 2022). By employing “narrow boat facilities”, BPH contributes to UK-based target destinations to attract major customers for spending their holidays.
All these factors are important in understanding the development requirements of BPH’s business policies and the estimation of the “narrow boating services” in the UK with a new dimension. Following these changes as per the effective processes in the segmented overview by employing skilled employees, standard costing for all associates and maintaining stakeholders effectively can collaborate to a profitable assessment for BPH. These issues are important as per Table 1 for understanding the reality-based adaptable requirements in the hospitality sector of the UK. Therefore, the major propositions can assure 60%-70% of the gap fulfilment in the hospitality processes to attract customers.
Proposal for Corporate Strategy
Development of strategy
The company is currently dealing with two issues that can be demonstrated and appropriate strategies can be developed depending upon that, hence the strategies of the company can be demonstrated as follows:
- The company is lagging in providing “Customer service” for the company. They will be able to provide better consumer service only if they can provide better customer engagement. They should provide better booking services and consider prior booking of the hotels and the boating facility to increase their performance (Hunt et al. 2020). They can concentrate on the coast range and even deal with the quality service of the company. The appropriate strategic approach of the company will help them develop better content and a better consumer engagement approach. They can enhance their performance by ensuring customers are happy and satisfied when they are leaving the hotel.
- The company has faced various complaints about its engine problem; hence the company should consider using a better engine for their boats they even can consider exchanging their older engines for new ones and hence, this will help them maintain the speed of the boats and they will be able to provide a better strategy. They can even consider using modern ac motors for their engineers and they can match the consumer requirements (Jones, 2018). Consumers are expecting a long duration of service during their boat rides and hence they should consider changing their motors as well as the engine of the company. Modern motors will help the company is providing a better service and they can provide a service of more than 1500 hours as well (Klarin and Ray, 2019). They should consider modern technologies for the enhancement of their strategies.
Detecting the capabilities of resource
| Tangible resource | Intangible resource |
| land | Goodwill |
| vehicles | Brand equity |
| equipment | Intellectual properties |
| machinery | licensing |
| furniture | Customer lists |
| inventory | Trade secrets |
| Stock security, bonds, and cash | Patents |
Table 1: proposed resources of Black Prince Holiday
(Source: self-made, 2022)
VRIO Analysis
| Resources | Value | Rare | Limitability | Organization | Sustainable competitive advantage |
| “Cost-effectiveness” | Yes | No | Yes | Yes | “Competitive advantage in long-term process” |
| “Sales of the services” | Yes | No | No | Yes | “Competitive parity” |
| “Development of the engine” | Yes | Yes | Yes | No | “Stable competitive advantage” |
| “Expansion of business” | Yes | Yes | No | Yes | “Stable competitive advantage” |
| “Process of digitization” | Yes | No | Yes | Yes | “Stable competitive advantage” |
| “Supply and demand” | Yes | No | No | Yes | “Competitive parity” |
Table 2: VRIO analysis table
(Source: Self-made, 2022)
Corporate strategy and its impact on the stakeholder’s
| Factors | Analysis |
| Technology Development | The technology development strategy will help the company to increase their consumer engagement hence it will increase their sales revenue. This will increase the profits of the company stakeholders. |
| Service management of the company | It will be able to provide quality service to its consumers only if it will be able to provide better service to its consumers (Knight et al. 2020). The company information will be able to manipulate consumer behavior with better services. |
| Increment of sales service | The sales service of the company can be increased with the better availability of quality products; hence the opportunities for the development of the company can be analyzed with the help of these strategies. Hence the analysis will help the stakeholders to increase their business, as well will get positive consumer feedback. |
Table 3: Impact on stakeholders
(Source: self-made, 2022)
This table helps one to understand the areas of growth of this particular company and the areas they are considering for future preference. Hence, the strategic analysis of the company will be able to help them categorize their requirements and to provide better consumer service (Knight and Cuganesan, 2020). This analysis of the strategies will help them develop a better approach hence that will increase stakeholder engagement increasing the sales revenue of the company. Better involvement of the HR management and the strategies for the marketing of the company will help them to gain better customer engagement. The company profile will be able to engage several members. It gives a clear idea about the developmental strategies and the areas of development for the betterment of the study. The stakeholders of the company will engage more professionals specialized in their field, and that way they will be able to resolve their issues. Hence, the right strategic approach will help the company to develop a better management approach for the better means of the company profile (Nambisan et al. 2019). The company can increase its consumer engagement by improving its quality of service and will be able to resolve the desired practices. Hence, the Black Prince Holidays have areas for growth; they should follow the appropriate path and suggestions.
Reflection of undertaken stages
Activity 1:
The activity 1 section generally describes the approaches of the company and the basic services provided by the company. The company personnel strategies and their way of tackling the business have been discussed in activity 1 (Prashantham and Birkinshaw, 2020). According to my opinion, the strategies used by the company are helping them achieve better result and hence, they will analyse the enhancement strategies for better services to be provided. I think the strength of the company can be considered as their pricing strategy and customer service, they provide a 24*7 service provider for their better development. Hence, it can be said that the company can provide better services to their consumers, and hence, they will be able to be one of the great companies across the UK.
Activity 2:
This area mainly concentrates on evaluating the better opportunities for the developmental strategy of the Canal boat rides. This can be considered one of the most attractive services provided by the company and they will be able to provide this service only if they can develop the plan according to the market need (Princes, 2020). According to my opinion, this strategy will help the company to ensure better consumer engagement and hold a better marketplace and will help them provide better yearly revenue. I think the company is successful in gaining consumer interest as they have received more than 70 percent positive consumer feedback.
Activity 3:
This is the most crucial part of understanding any business and improving the services of that particular business. The companies should consider performing better background research and hence, they will be able to provide a better service (Van Zanten and Van Tulder, 2018). The consumer requirement and the tactics of developing the appropriate strategy for customer engagement can only be observed if they can know the factors affecting the company’s performance. Hence, the strategic approach can be well developed only after an appropriate analysis of the factors (Zahoor and Al-Tabbaa, 2021). According to my opinion, the macro and micro environmental analysis will help the company to analyze its growth and help them choose the right path for expanding its business. The appropriate strategic approach and the effective approach can only be developed after the analysis of the strategies.
Activity 4:
This will help the company to analyze its problems and the success rate of the company. I think this section has a clear concept of the strategies of the company and the threats to the company, as the correct techniques to be approached by the company are discussed in the following situation (Zahoor et al. 2020). Hence, the strategies should be developed only after the analysis. This section suggests the appropriate suggestions and the risk analysis is performed in this part. I think the suggested methods for saving the company from the upcoming danger are well suggested in this section.
Task 2:
This section gives a clear idea about the risk factors of this company and the main problems being faced by the company. The analysis of the structures and proposing a strategic plan for the company is the main area of discussion in this section. According to my opinion, this section will help the company to develop a better approach for the industry and this also suggests better market revenue and market growth for the company. The analysis strategies can be helpful for the company and the stakeholders will be benefitted from this approach.
Reference:
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Hunt, V., Prince, S., Dixon-Fyle, S. and Dolan, K., 2020. Diversity wins. McKinsey.
Jones, M., 2018. The Black Prince. Simon and Schuster.
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Knight, A.P., Greer, L.L. and De Jong, B., 2020. Start-up teams: A multidimensional conceptualization, integrative review of past research, and future research agenda. Academy of Management Annals, 14(1), pp.231-266.
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