Contemporary Developments in Business and Management: A Case Study of Thomas Cook

Contemporary Developments in Business and Management
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Contents
Introduction................................................................................................................................3
Task 1.........................................................................................................................................4
Briefly explain with examples the significance of external and internal business environments
to business..................................................................................................................................4
Task 2.........................................................................................................................................7
1. Critically assess Globalization’s relevance to Thomas Cook and how it influences policies
and competitive strategy within organisation or industry-sector...............................................7
2. Evaluate critically the effectiveness of the organisation’s response......................................9
3. Consider some areas for improvement in the response of the organisation.........................12
Conclusion................................................................................................................................13
References................................................................................................................................14
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Introduction
The study of section includes how change of internal and external factors affects the
development and growth of organization, or business. The study of subject is Thomas Cook,
a British airline, headquarter situated in Manchester, England. Thomas Cook airline is a
division, part of Thomas Cook Group, which due to excellent services consists of more
airlines i.e. three all of which are managed by joint fleet management. It is important to
remember that Thomas cook faced a merger with MyTravel Airways in 2008. The study of
subject includes the changes the organization has gone through to manage and maintain
business through affecting environmental factors. There is a vivid elaboration of conditions,
situations Thomas Cook have made through with globalisation. The effect, impact, and
change with globalisation on Thomas Cook is learnt and discussed.
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Task 1
Briefly explain with examples the significance of external and internal business
environments to business.
Thomas Cook
It is Global British Airline Travel Company listed in LSE (London Stock Exchange) and is a
significant part of FTSE 250 Index. The company came into existence in 2007, June 19 with
the merger of Thomas Cook AG. Thomas cook, the company itself is successor of MyTravel
Group plc and Thomas Cook & Son. The company is widely renowned for its tour
operations, airline base in UK, Scandinavia, Belgium, and Germany. Hotels4u is also owned
by the company.
Thomas Cooks selectively performs in value-added services to fulfil the rising demand of
customers. The basic product segment of the company includes providing its customers the
tourism service that include both flight facilities and hotel selection and booking, set up
together in a package deal to make it simple and satisfactory regarding the needs of
customers. The other segment includes customised packages, providing the customer with a
huge amount of flexibility to ponder on the choices and selection of travel destinations within
the time period of tours and value added services.
Another of the product segment deals with providing the financial benefit to travellers in tour
assurance services in terms of money transfer and foreign exchange. The last segment of the
product helps in allotment of offers and tour packages with great benefits to the customers.
The company works on an online portal where it significantly focuses to serve national
market that is European and Pan-European market respectively (Goudie, 2018).
Internal and External Business significance
Internal business significance
The employee engagement in job, work, and service of an organization can easily be foreseen
and analysed on the basis of involvement in related activities, surrounding culture, and
concerning values. Therefore the involvement in organizational values, development and
growth of fellow subordinates as well, cultural value of company to achieve respective goals
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