British Airways Holidays and Its Services - Assignment Example

?Strategic Management Analysis Table of Contents 0 Introduction 5 Task A 6 2.0 PESTEL Analysis 6 3.0 Porter’s Five Forces Model 10 3 Threat of New Entrants 11 3.2 Threat of Substitutes 11 3.3 Bargaining Power of Suppliers 11 3.4 Buyers Power 11 3.5 Rivalry 12 4.0 Critical Success Factors 13 5.0 Driving Force Model 13 6.0 Life Cycle 14 7.0 Summary of Opportunities and Threats 15 Task B 16 8.0 Value Chain Analysis 16 8.1 Supporting Activities 17 8.1.1 Human Resources 17 8.1.2 Firm Infrastructure 17 8.1.3 Technological Development 17 8.1.4 Procurement 18 8.1.5 Outbound Logistics 18 8.2 Primary Activities 18 8.2.1 Inbound Logistics 18 8.2.2 Service 19 8.2.3 Marketing and Sales Activities 19 8.2.4 Operations 20 8.3 Value Network Analysis 20 20 9.0 Competitive Advantage 21 9.0.1 Financial Capability 22 9.0.2 Financial Competencies 23 9.0.3 Human Resources 23 9.0.4 Human Resource Competencies 23 9.0.5 Physical Resources 24 9.0.6 Physical Capabilities 24 9.0.7 Intangible Resource 24 9.0.8 Intangible Capabilities 25 9.0.9 Overview about Threshold vs. Unique Resources / Capabilities 25 10.0 Sustainable Competitive Advantage 26 11.0 Summary of the Strengths and Weaknesses 27 Task C 28 12.0 Strategic Direction 28 12.1 Market Penetration 29 12.2 Product Development 29 12.3 Market Development 29 12.4 Diversification 30 13.0 Strategic Fit 30 14.0 Summary on Strategic Fit 33 References 34 1.0 Introduction The aim of the study has been to conduct a strategic analysis of an UK based airline company offering package holiday. Therefore, in this context, the company that has been chosen for the study is British Airways. British Airways is based in the UK and is the biggest scheduled airline that runs internationally (Scribd, 2009). It offers flight services of low fares for customers availing its holiday packages and carries the passengers to and from the centrally located airports. The company also offers holiday packages that consist of super value packages for hotels as well (The Telegraph, 2011). A person can enjoy both the flight facility as well as hotel facility and thus visit numerous destinations with British Airways which can save time as well as cost (British Airways, n.d.). Tour operators tend to put the numerous elements of the holidays and thus sell them as a package. The packages are sold either to the public directly or through travel agents. There are innumerable tour operators offering enormous ranges of the holidays as well as destinations (Holiday Bargains, n.d.). The term ‘package’ generally is defined as a set combination of two services at minimum. They must be offered at inclusive prices and must include components such as transports, accommodations or other services that are important for the tourists. The holiday market of the UK seems to be quite competitive and the industry tends to operate at quite low margins (BIS Department for Business Innovation & Skills, n.d.). The main rationale for choosing the company is that it is the leader in airline industry that offers both the flight as well as the holiday package services. The company chosen will assist in comprehending the trends of the airline company offering the package holiday in the UK. Task A 2.0 PESTEL Analysis The PESTEL analysis tends to classify the environmental components into political, socio cultural, economical, technological, environmental as well as legal. It assists in comprehending the main drivers leading to change as well as the external factors affecting an organization. Political Factors The political environment of the UK is quite stable. However, the terror attack had a major impact upon the package holiday industry of the UK. Such terror attacks led to tight security as well as strict immigration laws. The package holiday industry suffers in the long-term if such turmoil keeps on continuing. This tends to affect the perception of the tourists. In recent times, strikes called by the staffs of the British Airways had an impact upon its holiday business. In future, such scenario can occur which might have an impact upon the holiday segment (Wallop, 2011). Economic Factors In terms of economic factors, the exchange rate plays a vital role in the context of international tourism as well as trade. It has been found that Euro is stronger against other currencies which make it favourable for the residents of the UK to travel abroad (The Independent, 2007). However, the GDP growth rate of the UK has been at 0.5% in the year 2011 (Office for National Statistics, 2011). The current exchange rate of Great Britain Pound in comparison to Dollar is presented in the diagram below: (Source: X-Rates, 2011) There has been rise in the price of oil and the price of Brent crude has been $115.56 while that of the US crude has been $95.28. It can be analysed that such increase in the prices of fuel will tend to increase the flights rates at which the tourist can travel to numerous destinations (Monk, 2011). It has further been noted that the travel and tourism industry of the UK has requested for stopping the increase in the aviation taxes to the chancellor. However, the aviation industry of the UK needs to pay comparatively lower taxes in comparison to other means of transport because it gets the benefit of exemption from the taxes that includes Value Added Tax (VAT) along with the fuel duty (Airportwatch, 2011). It can be analysed that if the tax rates of aviation industry declines then the fares of the flights may decline to a certain extent. It can be identified that a strong economy of a country tends to facilitate in enhancing the prospects for package holiday industry as a growth in economy gives rise to the spending power of the people of the country and thus in turn enhances the demand of package holidays. Social Factors In the package holiday industry, lifestyles as well as the brand consciousness play a vital role. The package holiday companies such as British Airways tend to provide specialised and customised services to the tourists according to their requirements. In addition to this the customers prefer to make their trip with the reputed and well known companies. The ageing population of the UK has an impact upon the industry as well (British Airways, n.d.). Technological Factors In the UK, in recent trends it has been observed that a large segment of the people have access to the internet through which they can gather useful information regarding the package holiday companies with whom they want to make their trips. Environmental Factors The environmental factors also have an impact upon the package holiday industry. As a process to reduce the pollution, air flight rationing has been suggested by the government of the UK which helps to reduce the Carbon dioxide emissions. This tends to have an impact upon the package holiday industry (Demerjian, 2009). Legal Factors It has been evident that there are number of regulations that has been proposed by the government upon the ‘Aviation Safety and Regulation’. The British Airways also needs to keep an eye on the legal issues that different countries face from time to time (Liverpool Business School, n.d.). 3.0 Porter’s Five Forces Model The Porter’s five forces model tends to identify the level of competitiveness in the market. It further helps a company to prepare their strategies according to the prevailing scenario in the industry (California State University, 2011). 3.1 Threat of New Entrants Since there is requirement of huge capital in package holiday industry, therefore it creates a threat for the new comers. In addition to this, brand recognition is also a threat for the new entrants. In this context, the threat of new entrant seems to be low in the package holiday industry. 3.2 Threat of Substitutes The television and the video games are the substitutes for the package holiday industry as they have provided an option for people to stay at home at their spare time instead of visiting tourist places to enjoy and relax. However, they cannot be similar to travelling. The threat of substitute products is also quite low. 3.3 Bargaining Power of Suppliers The main suppliers in package holiday industry are the guides along with the hotels. There is great competition among the suppliers, so as a result of this the bargaining power of the supplier for the package holiday industry seems to be high. 3.4 Buyers Power There are numerous package holiday companies in the UK such as easyJet, Virgin, Southwest, and Thomas Cook among others who are also the competitors of the British Airways. Thus, the large customer segment of the package holiday industry has a number of service providers to choose from. Therefore, it can be stated that bargaining power of the buyers seems to be high. 3.5 Rivalry The threat of competition for the British Airways is quite high because of the presence of many competitors who are in direct competition with the British Airways. The varied preferences of holiday destinations that make it quite competitive for a service provider such as British Airways to offer their customers diverse holiday destinations so that customers do not switch to other competitors. It has been observed that the major competitors of the British Airways Holidays are Thomas Cook, Airtours, Thomson and FirstChoice. The market shares of the competitors are presented in the table below: Thomas Cook Thomson First Choice Airtours 16% 23.6% 14.4% 16.8% Source: (Chandler, 2000). 4.0 Critical Success Factors Critical Success Factors (CSFs) can be defined as the process that assists in determining the key areas in which an organisation needs to perform well for the purpose of achieving its mission: (Gates, 2011) Critical Success Factors (CSF) Comments High Awareness It has been observed that the British Airways has high brand awareness and recognition among the public since it is the pioneer in the related sector. Services ‘British Airways Holidays’ needs to focus upon the services that it tends to provide to its customers because there are many competitors who are into direct competition with it. Provision of Customised Services British Airways Holidays needs to provide customised and tailored services to its customers to gain competitive advantage and thus to achieve higher market share in the domestic as well as international arena. 5.0 Driving Force Model The business environment of a company consist of the internal as well as the external driving forces which a company needs to recognise and thus react to the changes that occur in the environment so that it can remain competitive in the market (Walden University, 2011). The rising disposable income of the people of the United Kingdom is one of the internal factors affecting the performance of the British Airways. However, the tax rates and the increasing price of the tour packages may lead to low demand for the tour packages in the UK market. It can be stated that there are numerous internal as well as the external factors that has forced the companies to shift in the market of the UK. Social changes and the shift in the booking pattern of the people of the UK along with the advent of the internet are a few of the factors that tend to affect the performance of the package holiday company. The company tends to offer the best service to its customers. It has been noted that the company offers ‘three-night holiday package’ as well as car rentals along with hotels per day when the customers book the special offers that is disclosed at ba.com (Trade Arabia, 2011). Through the company’s all inclusive holidays, the customers can make on e-payment that covers everything such as flights, accommodations, foods and beverages, activities as well as entertainments. This can be considered as one of the internal driving forces of the company that can make the company competitive in comparison to others (British Airways, n.d.). In addition to these, strikes and conflicts at the company also tend to be one of the internal factors affecting the success of the holiday business of the British Airways. 6.0 Life Cycle The product life cycle generally passes through numerous stages such as the introduction phase, growth phase, maturity phase, saturation phase and decline phase. It can be stated that the British Airways package holiday business is into the growth phase. 7.0 Summary of Opportunities and Threats Factors Comments Opportunities High brand recognition, low threat of new entrants and low threat of the substitute products. Threats Changes in the lifestyle of the people, advent of the internet and television, aviation safety rules and regulations, trade laws and high competition. Task B 8.0 Value Chain Analysis British Airways Holidays implements the value chain as one of the processes that assists in determining the competitive advantage affect. The total value as delivered by the British Airways package holiday company is determined at the value chain analysis. Source: (UK Education, 2006). 8.1 Supporting Activities 8.1.1 Human Resources The human resources are the most crucial factors in order to retain the staffs with the aim to supply the services to the customers. The employees of British Airways Holidays are quite competent to accomplish the objectives of the organisation. The other human capitals for the package holiday company are the guides who are highly trained and have specialised skills. 8.1.2 Firm Infrastructure The information technology plays a vital role in the tourism sector. Most of the tour operators tend to utilise the public tourism infrastructure. The marketing staffs need to be quite experienced who can explain regarding the products of the company to the customers. In addition to this, the British Airways package holiday needs to abide by the rules and regulations of numerous countries where it takes the customers for the purpose of roaming. 8.1.3 Technological Development It can be stated that the technological development for the tourism sector is related to the training and development as well as the skills of the staffs since they are the people who will provide the products as well as the services that are required by the customers. Furthermore, it is worthy of mentioning that the companies are turning towards the internet technology to market their products. With the help of internet it becomes relatively easier for the people to find the names of the travel agents and thus book their tickets with them, process their passport and schedule their entire trip abroad. 8.1.4 Procurement Procurement aspect in the value chain relates to acquiring of the various resources that are required by British Airways Holidays in order to operate its business efficiently. The resources include car rentals along with acquiring tourist buses at various destinations. 8.1.5 Outbound Logistics The outbound logistics for British Airways Holidays have been the requests of buses, airlines, hotels, floral and amenities that are made by the customers, spa reservations, shopping recommendations, rental car reservations among others. It includes the services that are provided to the customers. 8.2 Primary Activities 8.2.1 Inbound Logistics It can be mentioned that the inbound logistics for the tour operators can be the flow of the information as demanded by the customers. The interested tourists may visit the website of British Airways package holiday so that it can gain the information regarding the particular company. In lieu of this the customers may be required to fill online forms. The data acquired from this acts as an inbound logistics for the company. The local guides can also act as the inbound logistics for the company because they assist the travellers in knowing about the places. Furthermore, the automobile industry engineers also tend to assist the tour operators in tailoring the vehicles according to the travel company’s requirement. Researchers discovering new places for the tour companies are also part of the inbound logistics because they tend to provide information to the tour operators regarding the new places that can be visited by the tourists. 8.2.2 Service It is quite important to ensure that the customers are content with the services that the company provides to its customers. If the customers experience is positive with the particular company then the customers may visit the company repeatedly. British Airways Holidays offers various services which include accommodations, airport transfers, alpine skiing, autumn colours, and individual travellers along with guided tours. 8.2.3 Marketing and Sales Activities It can be observed that the marketing as well as the sales activities of the British Airways Holidays include direct marketing and direct sales offices all around the Europe and thus tends to promote the leisure travel all over the UK (Ali-Knight & Wild, 2011). They promote their products over internet through websites as well. 8.2.4 Operations ‘British Airways Holidays’ basically operate in the UK. It has its travel distribution channels, airlines along with tour operations. It also arranges for the accommodation of the tourists. The company is reputed and tends to provide quality services as well as package holidays. 8.3 Value Network Analysis The value network analysis presented here can help to demonstrate the relation that the company has with its customers and the suppliers. 9.0 Competitive Advantage It is worthy to state that for the purpose of understanding the competitive advantage, it is significant to have an analysis of BCG matrix. Figure: BCG Matrix Source: (McGrath, 2009). Among the four quadrants that have been exhibited in the figure above, British Airways’ business travel service fits in the cash cow quadrant; and the reason behind this is that the company is the pioneer in the airline industry of the UK. The market share of the company had surmounted by 4% in the year 2007 (Barclaycardbusiness, 2008). Although the market growth rate has been slow, however the company enjoys a quite suitable position. It is to be noted that the cargo segment of the company falls into the question mark quadrant since the market share of cargo segments of the British Airways has been quite low in comparison to one of its competitor, Lufthansa (Golden, 2007). 9.0.1 Financial Capability From the half yearly results of 2010-2011, it has been evident that the profit before tax of British Airways has been ?158 million and the revenue of the company has been ?345 million. There has been decline in the overall cost of the company by 1.5% as demonstrated in the half yearly report of 2010-2011 (British Airways, 2010). The liquidity ratio of British Airways Holidays recorded was 2.78:1 as on 31st March 2010-2011 (ICSM, 2010). It can be identified that the liquidity ratio of Thomas Cook was 0.4:1 as on 31st March 2011 (Bloomberg, 2011). It can be mentioned that the British Airways seems to be outperforming in its operation in comparison to one of its major competitors Thomas Cook. It can be analysed that the company needs to keep satisfying its customers and its employees for maintaining the similar position in the market. 9.0.2 Financial Competencies As on 31st March 2009, the net worth of British Airways Holidays had been GBP 23,319,000 and the turnover rate had been GBP 53,202,000 while the pre tax profit had been GBP 579,000 (ICSM, 2010). 9.0.3 Human Resources Human resources are a significant part of an organisation without which it is quite difficult to operate the business. The total number of employees of the company in the year 2010 had been 36758 (The Telegraph, 2011). It has been observed that British Airways Holidays aims at maintaining flexibility in its working schedules. The information management team also forms the part of the company. 9.0.4 Human Resource Competencies The human resource competencies in British Airways can be the culture of the organisation. The company believes in treating its employees with respects and maintaining utmost professionalism so that the employees in turn treat their customers similarly. The company thrives to operate in a team for the enhancement of the operations of the business. However, in recent times, strikes held by the workers prove that there is lack of adequate management of the human resources in the organisation. 9.0.5 Physical Resources In the year 2007, British Airways Holidays owned 2000 hotel beds in London (Golden, 2007). The other physical resources of the company are guides, flights and car for rents. The company has direct services to Caribbean along with 64 flights operating weekly to 15 different destinations (British Airways, 2010). 9.0.6 Physical Capabilities The physical capabilities for British Airways Holidays are the proper utilisation of the guides, hotels and air flights for increasing the efficiency. 9.0.7 Intangible Resource The brand recognition and awareness can be considered to be the intangible resources for the British Airways Holidays. 9.0.8 Intangible Capabilities Since the company has high brand recognition and brand awareness so it becomes easier for the company to target their intended customer segment. In order to maintain the brand image, it is necessary for the company to capitalise on the existing resources. 9.0.9 Overview about Threshold vs. Unique Resources / Capabilities The table below demonstrates the results of the previous analysis and provides an overview of the resources fulfilling the threshold level and the factors that can be regarded as providing competitive advantage. Figure: Threshold Vs Unique Resources 10.0 Sustainable Competitive Advantage British Airways Holidays is a UK based company that serves as a tour operator, charter airline operator and also as travel agency in the UK. It has been found that the market share of the company is quite high and thus tends to offer numerous benefits to the customers for the purpose of fighting competition. It offers free stay at nights in most of the select hotels of London as well as in other countries. Thus, the competitive position of the company is quite strong (British Airways, n.d.). 11.0 Summary of the Strengths and Weaknesses Strengths British Airways is performing quite well in its package holiday segment. The company tries its best to meet the demands of the customers in conditions of providing the value for the money and the quality of the services that is provided to the customers (Hospitality Industry, 2011). The company has a good market reputation and thus offers tailored products to the customers. Weaknesses British Airways’ internal policies as well as the human resource management policies are not strong enough because of which the company faces strikes and other legal problems. This can be considered as one of the weaknesses. Task C 12.0 Strategic Direction Ansoff Model helps to understand the Strategic direction. This has been presented diagrammatically. Fig: Ansoff Model Source: (Tutor2U, n.d.). 12.1 Market Penetration The product of British Airways Holidays has been package holiday that tends to provide numerous services such as car rentals, accommodation facilities, flights, online bookings among others. 12.2 Product Development British Airways Holidays can design its products generally targeting the youth as well as the aged people in UK since they have sufficient time and money to spend. However, it is to be remembered that proper security measures need to be provided to the aged people while taking them for a trip since they require additional care in comparison to other age group people. The company needs to provide customised offering by keeping in mind the tastes and preferences as per the requirement of various age groups. 12.3 Market Development The company is based in the UK and thus faces numerous problems such as tax matters and instability among others. Therefore, it is highly suggestible for the British Airways Holidays to expand its place of operation to other countries as well where it can acquire better scope to gain higher revenues. 12.4 Diversification The company tries to keep adding new offers as well as include other segments as well in addition to the flights so that it can gain high awareness. 13.0 Strategic Fit Opportunities/Threat Fit? Comments High Growth British Airways Holidays can enjoy numerous opportunities since there is high growth in the leisure travel industry Ageing Population Since the UK has ageing population, the company can target this particular age group. The reason behind it is that this age group’s people have sufficient time and money to spend and thus they rely upon the travel agents for making their trips. Youths The youths can as well be targeted since they are highly interested in making tours. Competitors ? Entry of the international travel agencies as well as the local competitors Rules and Regulations ? Since numerous rules and regulations have been imposed customers tend to loose the confidence which can become one of the biggest threats for the company Switching of the Customers ? The dissatisfied customers may switch to other players Denial of the Suppliers ? Supplier’s denial to provide the service to this company Critical Success Factors Match? Comments High Awareness It has been observed that the British Airways has high brand awareness and recognition among the public since it is the pioneer in the related sector Service The company needs to focus upon the services that it tends to provide to its customers because there are many competitors who are into direct competition with British Airways Holidays Provision of Customers Service British Airways Holidays needs to provide customised services to its customers to gain competitive advantage and thus to achieve higher market share in the domestic as well as international arena Internal Policies ? The company’s internal policies are quite weak that leads to numerous legal problems thus affecting its leisure segments to a great extent. It has made losses continuously because of such problems 14.0 Summary on Strategic Fit It has been found that British Airways Holidays has high awareness level and it is able to satisfy the customers with its services. 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