Business Health Check: Thomas Cook Objectives, Factors & Improvements

This report conducts a business health check, focusing on the objectives and factors impacting a company's operations, using Thomas Cook as a case study. It analyzes the company's objectives, both internal and external factors (political, economic, social, technological, legal, and environmental) impacting its performance, and utilizes tools like SWOT and PESTLE analyses to identify strengths, weaknesses, opportunities, and threats. The report then explores potential improvements, including the application of the Ansoff matrix (market penetration, market development, product development, and diversification) to propose growth strategies. The report also touches upon the importance of SMART objectives and provides an overview of the current skills of management and employees, concluding with skill development plans.

Business Health Check

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
1.1 Analyse the objectives of business .......................................................................................1
1.2 Explain factors that impact on business.................................................................................2
1.3 Determine potential improvements to business ....................................................................4
M1 Analysis of objective into SMART criteria ..........................................................................5
D1 How Ansoff matrix contributed in improvements of Thomas Cook.....................................5
LO 2.................................................................................................................................................6
2.1 Review effectiveness of business ..........................................................................................6
LO 3.................................................................................................................................................7
2.2 Business Development Plan...................................................................................................7
M2 Contribution of Different Areas of Organization..................................................................9
D2 Plans To Improve the performance of individual department...............................................9
3.1Current Skills of Management and Employees......................................................................9
3.2 Skill Development Plan for Employees and Management..................................................11
M3 Effect of Current Skills of staff and Management on Performance of Organisation..........12
D3 Methods to Develop New skills...........................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
A business is required to identify improvement areas so that it can grow and develop. This is
because there are many factors due to which operations are affected. There are several strategies
which are developed including goals and objectives. Business health check up refers to the
checking up of the internal and external analysis of the ongoing practices of an organization
(Schawel and Billing, 2018). For this, the management of the firm must focus on gaining
viewpoints to gain the competitive advantages and this is done through proper evaluation
techniques. Such tools include SWOT, PESTLE and Ansoff Matrix that help in fetching the
important information about the trends and tactics used to maintain the reputation and credibility.
Moreover, it puts emphasis on understanding the components such as departmental relationships,
brand value in the markets, employees' engagement etc. for better exploration of the present
situations in the marketplaces.
This report will describe objectives of business and factors that impact on it. Also, it will
determine potential improvements required in operations. Moreover, business effectiveness will
be reviewed and plan will be explained. In last section current skills of management and staff
will be discussed and plan for improving it is described.
LO 1
1.1 Analyse the objectives of business
Hospitality industry consists of many sub sectors and is expanded into wide area. It provides
different types of products and services. There are many companies operating in this sector and
each one of them goals and objectives differs. However, organisations are facing stiff
competition. The industry is growing rapidly in many countries and is generating huge revenues.
Thomas Cook is a British international travel and tourism company founded in 1841. The
company merged with Thomas Cook AG in 2007 (Dawes, 2018). It is now a public limited
company providing variety of tour and travel services. Company is listed on London Stock
Exchange. The company provides various services such as package holidays, hospitality, cruise
lines, etc.
Generally, there are two divisions of Thomas Cook, one is tour operator and second is
airline. The total number of employees are 32,722 and having a large customer base of 19.1
million. It is the second largest group operating in tourism industry in UK.
Formation
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It is analyzed that in February 2007 the companies Thomas Cook AG and My travel
Group PLC merged. In this shareholders of My travel were having 48% shares. It resulted in
formation of Thomas Group PLC.
In 2000 the company bought website hotels4u.com for 21.8 million. Also, in 2008 they entered
in Middle East and Asia. Besides this, Elegant resorts hotels were bought by them. By coming to
2010 -15, Thomas Cook bought Oger tours of Germany. This was lead through an agreement
between them. Furthermore, in 2016 company sold their airline operations to Lufthansa.
Now, at present 52% shares of are owned by new company Arcandor which is German based
department store company. 48% are still owned by My travel Group PLC.
The mission and vision of company is as follows :-
Vision- To be world’s best loved holiday company, delighting out customers, staff and
shareholders.
Mission – To profitability grow by consistently delivering high quality and distinctive holiday
experience
Goals and objectives
To become number one company in tourism sector.
To have a rapid and sustainable growth and development in tourism industry.
1.2 Explain factors that impact on business
A business is affected by many factors that can be either internal or external. This is because any
change in it highly impact on business operations (Kreutzer, 2019). Also, organisation operates
within external environment and factors related to it are legal, social, etc. so, they are not
controlled. Whereas internal factors include suppliers, customers, etc. which can be controlled.
Thomas Cook is also affected by factors that are described below :-
External factors:- In order to analyse these pestle analysis is done which helps in identifying
change in external environment. This is explained below :-
Political – It plays a vital role in growth of organisation and can highly impact on Thomas Cook.
The factors are change in political condition, taxation system, relation with neighbouring
country, etc. so, any change in it directly affect business operations. As Thomas Cook operates in
many countries they have to follow laws and regulations. Any change in political condition will
impact on growth of company.
Economic- the economic factor of a nation determine its economic condition. They factors
included in it are inflation rate, foreign exchange, GDP, etc. So, any change in these factors
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affect company growth. The company is highly dependent on Europe for generation of profit.
Thus, any downfall in economic condition will decrease their profits.
Social- they are related to cultural beliefs, social ethics, taste and preference of people, etc. there
are many societies in world which is having own beliefs and norms. So, Thomas Cook
operations are expanded worldwide. Thus, any change in taste and preference of customers will
result in decline in growth. For example- if people demand low cost tour packages then Thomas
Cook growth will be affected.
Technological – Technological advancement is playing crucial role in company’s growth. It has
transformed the way of offering products and services. Thomas Cook offers services on internet.
Thus, any development will lead to impact on company operations. However, use of AI can also
affect their operations.
Legal – they consists of laws and regulations that has to be followed by tour operators. It
includes discrimination law, consumer protection act, health and safety, etc. Each country is
having its own legal framework in tourism industry (Williams and Davis, 2017). Any change in
anti trust law of travel industry will enforce Thomas Cook to implement it. Therefore, due to this
there overall growth and development will be affected.
Environmental- Every company has to follow certain laws related to environment. In this the
factors include laws and practices related to protection of environment. Thomas Cook have to
protect environment and follow several CSR practices. They also have to maintain sustainability.
In tourism sector any country can ban some tourist areas. They can enforce company to maintain
sustainability. Hence, it will impact the growth of organisation in tourisms sector.
SWOT analysis- this is basic framework used by company to evaluate their strength, weakness,
opportunity and threat.
Strength –
 Company is having a huge client base in UK and operates worldwide. The customers are
highly satisfied with company products and services.
 They are having highly skilled workforce and invest a lot in training and development.
 It is having a strong base of suppliers which enable in maintaining strong supply chain
network. Also, through this distribution network has enabled in reaching large customers
in wide area.
 There is strong brand portfolio of which offers variety of products and services to people.
Weakness
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 A high level of competitor from other companies is weakness of Thomas Cook. It has
resulted in decline in sales and profits.
 There is less use of technology by company. Due to this, they are not able to gain
competitive advantage.
 The profitability ratio of company is below industry average.
Opportunity
 Change or any new trends in consumer behaviour can result in developing new products
and services.
 The company can start promoting sustainable tourism. It will help in attracting people
and development of new market (Gurcaylilar-Yenidogan and Aksoy, 2018).
 They can gain competitive advantage in tourism developing countries.
Threat
 Technological advancement by competitor can be a threat to Thomas Cook.
 Change in consumer buying behaviour in online channel will result in driving supply
chain.
1.3 Determine potential improvements to business
It is necessary to identify weak areas so that improvements can be made. This is because it
allows business to enhance operational efficiency. Moreover, it enables in developing strategies
and increasing growth of company. However, a business requires continuous improvements in
order to survive and compete in the market. Besides this, the growth areas are identified and it
allows business to develop new products and services. It is necessary for company to analyze
various options and select best one. Here, Thomas Cook can follow Ansoff matrix. It is a growth
strategy that helps in finding out growth opportunities within the market. There are 4 dimensions
in it which is stated below :-
Market penetration – it refers to selling existing services in current market, it is known as
Market Penetration Strategy. It is the least risky strategy adopted by the company. In this
strategy, company is focused on its existing services and products which make them expert in
their field.
Thomas Cook can add new features in their products. By this existing customers can be
retained and satisfaction can be gained.
Market development – the company adopts the growth strategy in which the focus is on
existing products introducing in new markets, it is known as Product development strategy (Kruk
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and et.al., 2016). Here, Thomas Cook can enter in new and developing countries such as South
Africa, Asia, etc. by this company can generate more revenue and grow in that market. Besides
this, it will help in attracting more customers and maintaining their presence.
Product development- It means to adopt to focus on new products introducing in existing
markets, it is known as Product development strategy. Here, Thomas Cook can introduce new
products in existing markets. This will enable in retaining old customers and attracting others as
well. Along with it, company will be able to compete in the market for long term.
Expansion – in this company adopt diversification strategy for the expansion and improvements
of their business and operations in which company is all set to introduce new products and
services by entering into new market.
Here, Thomas Cook can expand in new market with new products and services. There is
high risk involved in this as it can lead to failure. The company can operate in developing
countries. They can offer services like cruise lines, hotels, etc. Through this, it will be easy to
create new customer base and produce sales and profits.
M1 Analysis of objective into SMART criteria
It has followed SMART objectives in the company (Turkyilmaz and et.al., 2019). It is preparing
a specific objective for achieving future growth in the business. Before the implementing any
idea into the business specific research is being done by the researcher. Then research is
measured through different tools that is being measured for achieving goal.
D1 How Ansoff matrix contributed in improvements of Thomas Cook
The matrix will highly contribute in growth and development of Thomas Cook. By this it will
support in expanding in new market and generating revenue. Its contribution is as stated below :-
Market penetration- it will allow company to gain satisfaction of new customers in existing
market and retain them. Moreover, company can maintain their goodwill and market share.
Market development – Through this, Thomas Cook can enter in new market and increase
customer base. They will be able to generate more sales and profits. Moreover, it will help in
attracting people and fulfilling their needs.
Product development – it will enable organisation to retain their customers by offering new
products. Alongside it, Thomas Cook can attract new customers as well by offering them
services.
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Diversification – this strategy will majorly contribute in growth. The company can enter in new
markets with new products. It will increase both sales and customer base.
LO 2
2.1 Review effectiveness of business
Business effectiveness refers to term through which tasks are performed and goals are attained. It
means doing the right things without in reference to cost. It is necessary for business to maintain
effectiveness within various functions (Quiceno and et.al., 2019). This is because it helps in
attaining goals and objectives. The various areas in Thomas Cook are as follows :-
Product and services-
The products and services offered by Thomas Cook are of high quality. The services are
developed on basis of customer needs. By this they are able to satisfy and retain them. Alongside
it, services offered ranges from low to high budget. The features of company products are
unique.
Marketing –
It is a strong pillar that helps organisation to generate sales and attract more customers.
Thomas Cook marketing unit work in coordination with sales and R&D. The company is having
a strong suppler base through which effective marketing is done. This has enabled in creating
strong image within market. Alongside it, social media platforms are used to advertise and
promote services in various markets.
Sales-
An effective sales of products and services enables in generating revenue. Thomas Cook
is able to provide services in right time to their customers (Schawel and Billing, 2018).
Moreover, providing first class services to customers has led to achieving sales target in time.
The targets are set by analysing past sales and market condition. However, strategies and plans
are developed to achieve sales targets in specified time.
Finance
This department is responsible for allocating funds and resources. Thomas Cook finance
management control and regulate finance by evaluating its performance. In company experts and
financial analyst allocate funds in proper way. The management set specific budget for all
departments. By this in financial system effectiveness is built.
Staffing
They are the personnel that carry out task to attain goals and objectives. The staff of Thomas
Cook is given advance training. Through this, the gain knowledge and brings creativity in task.
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In addition, the organisational culture is maintained by through following of policies. The staff
communicates and solve client issues. So, this has made them unique. The personnel is placed at
right place and always remain motivated. They work in creative way and perform activities.
Record keeping
It is related to keeping and maintaining of financial and other records in proper way. In Thomas
Cook records are maintained through software and applications. Also, staff follows standards and
guidelines in doing so (Williams and Davis, 2017). The accuracy and transparency is maintained
by following procedure.
Business image –
It refers to the market image or goodwill of firm. Thomas Cook maintains their business
image by promotion and marketing. They share customer experience on social sites and solve
issue quickly. Another thing is by offering high quality services Thomas Cook create positive
image in mind of customers. Thus, in this way business image in built in the market by
organisation.
LO 3
2.2 Business Development Plan
Business development plan is a document that is prepared by specific group people. This
group is consists of different people who are at different level in the organization and serving a
particular work that matches with technical and personal skills. The purpose of this group is to
improve the efficiency of different department to increase the overall productivity of
organization (Warner and Sullivan, 2017). The business development plan is go through a
particular procedure that help the development team to make an efficient plan.
Objective- To improve the business performance of the organization by improving operational
efficiency of individual department.
Planning Marketing
marketing is one of the main operation of organization that is important to conduct
business efficiently. Marketing department perform different operations to improve the sales of
the company to promote the product in market place to attract more customer. Performance of
marketing department can be improved in different ways. Thomas cook's marketing department
is using old technology for marketing operation. Marketing of operation can be improve by
updating the technological methods of department. Current technology can improve the
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efficiency of marketing by providing higher opportunity to company. Digital marketing is a
better way to complete marketing and company goals. People are more connected to digital word
and this make their accessibility higher (Kusumaningrum and Hidayat, 2016). Marketing
department of Thomas Cook can make direct to the customer via digital platform.
Sales and Production
Sales and production department handles the manufacturing and selling of company
product. In Thomas Cook organization the work of sales and production department is to manage
the service of company that are provided to customers. This function of the department can be
improved by different time management tools and production management tools. Research of
market place related to company product can help the department to meet the needs of
consumers. The services of organization also can be improved by using the latest technology.
Better tracking can help the company to track activity of tourist on online network. During the
tour client tracking can help the comp[any to perform operation without any failure.
Financial Management
financial management department performs the funds related issues in the organization.
Their function in the organization is to perform the fund allocation and fund management in
Thomas Cook. Case flow with in organization is manage by finance department of company.
Flow of money is most important for the company to manage the operation by allocating
required fund for different operation. This operation of the finance department can be improved
by using different finance tools (Burns and Dewhurst, 2016). These tools will help the company
to manage funds in better way. Thomas Cook can also use online mode of transaction to improve
the speed of fund transfer. This can help both consumer and company for effective fund
management.
Planning Roles and Responsibilities of Management and Staff
In an organization there are different functions are need to be played to full fill the
requirement of business. To complete the goals of organization it is important to decide the roles
and responsibility of employee and management for better completion of company goals and
targets. Right allocation of task as per the personal expertise can help Thomas Cook to complete
goals with maximum efficiency. Right allocation of task and work to employee will improve the
quality of particular task. This is how collectivity the operation of company will improve. Same
for the management it is important to manage the operations with in the organization to achieve
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greater productivity. Different ways can be used to improve the individual performance of
employees and management.
Monitoring
in an organization the monitoring of employees and their work is important cause this
will provide better control to management to keep the operation of Thomas Cook according to
the needs of company (Cooke and Scott, 2016). Monitoring on the work and employees can be
improved by using different technologies like RFID and Artificial Intelligence in employee and
work tracking. This will provide time efficient performance of company.
M2 Contribution of Different Areas of Organization
Contribution of each individual department is most important for organization. The
strategy of the organization is based on the performance of each individual functional
department. The collective action of each particular department contribute to complete
organizational goals.
D2 Plans To Improve the performance of individual department
Promotion through television, radio and other digital platform can reduce the work of
department and will provide higher efficiency to the department. Online marketing is also a good
way to perform marketing operation. Online platform also can help the organization to collect
the information of market place to decide particular strategy for promotion. Efficiency of each
employee can be increased with better training and development plans (Toro-Jarrín, Ponce-
Jaramillo and Güemes-Castorena, 2016). The management operation of organization can be
improved by different management tools. Communication between employer and employee also
can help to provide the direction to management and employees related to their work. This is
how the performance of Thomas Cook can be improved.
3.1Current Skills of Management and Employees
The current skills of the employees and management are not enough to match the needs
of organization and these skills are need to be improved for the further planning. It is important
for the organization to evaluate the skills of management and employees to check their suitability
for the operation and functions of organization. The current skills of employees are-
communication, team work, problem solving, time management, technology.
Communication
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With in the organization communication is one of the most important need. The
employees of Thomas Cook are good at communication. As a tourism sector organization
employees are capable of multiple languages with efficiency. Better communicational skills help
the employees to make better contact with clients (Uhl and Gollenia, 2016). With in the
organization communication helps the employee transfer important with other employees of
organization. Good communication allows the employee to share important information with
customers.
Team Work
The efficiency of organization is based on the cooperation and coordination of
employees. This can be only possible with better team relation and team work. Team work
provide higher efficiency to company. In different teams' role and responsibility of each person
is high and fixed. The overall performance of team is based on performance of individual person
and without coordination and cooperation it is not possible for a team to achieve the predefined
goal. The employee of Thomas Cook are good at listening and communication and this helps
them to better communicate with team members and this lead to high team cooperation.
Problem Solving
Thomas Cook is in business of tourism and travel and in this sector the employees of
company have to face different kind of problems on daily basis. So their problem solving skills
need to high. Cause without these skills they will not be able to perform good (Gartner and
Teague, 2017). Employees of Thomas Cook are trained specially to handle different situations.
This provide better satisfaction to clients. The controlled actions of employees in different
situation help the organization to avoid bigger problems. This situational handling improves the
services of company.
Time Management
Time management skills of individual person is needed must in employees. All the
employees of organization and management staff are allocated with specific tasks. This tasks are
allocated to them with specific dead lines. To complete task with in time limit is their duty. For
completion of allocated task time management skills are required. Employees of Thomas Cook
are good at time management. In hectic schedule the performance of employees is high. Their
approach is to complete each time before dead line. This provide higher efficiency to
organization.
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Technical Knowledge and Skills
The technical skills of employees are required to full fill the needs of business. For better
performance and higher productivity company use different technologies and software. To
improve the reach to different customers company prefer different platform that needs
technically skilled person to complete task. Employees of Thomas Cook are time to time trained
and educated with new technologies to meet the market requirements. As any cjuhange
performed in organization employees are trained to perform better with innovation in
organization.
Employees of equipped with above skills and these skills of employees are good for the
performance of company. These different skills of individual employee help the organization to
meet the company target with high efficiency. This also reduce the extra expenses to company.
3.2 Skill Development Plan for Employees and Management
Employee of Thomas Cook somewhere are lacking at some skills. These skills are also
important for the performance and operation of organization. This skill will individual employee
to contribute in success of organisation. This will also help the employees in their professional
skills. The skill development plan can provide documentation for process. This is also consider
as guide line for the further procedure.
Aim- To develop required skills in employees to improve company by improving their
individual performance and skills.
Name of skill Requirement Method of Development Time
Leadership Skills To lead different teams
in organization
By providing training of
time management and task
management and situation
handling.
2 to 3 Months
Organizational Skills To make arrangements
and task management.
By using different task
management tools
2 to 4 Months
Analytical Skills To analyse the data and
information of
organization to make
effective decisions.
By providing practical
training of information
analysing.
1 to 2 Months
Initiative Skills To improve the
performance of
organization by taking
initiative to make
changes.
By improving knowledge
and confidence of
individual employee
2 – 3 Months
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Learning skills To improve their
performance while
dealing with new clients.
By making short notes and
key points to develop better
understanding.
1 to 3 Months
Leadership skills in person are most important in the travel and tourism industry. Some
times the employees have to take lead to complete required goal of company. This is also
important for the personal growth of individual employee in professional carrier. The different
ways to develop leadership skills which are need to be followed. To develop the leadership skills
person ned to learn how to behave in the discipline way in every condition (Peterson, Jaret and
Schenck, 2016). By developing situational awareness can help to improve the decision making of
person that is important thing in a leader. To develop organisational skills in a person scheduling
can be used. By dividing tasks as per the schedule and establishing a filing system will help the
person to learn better organizational skills. By following specific procedure and classification
can help the employee to work in organize manner.
Analytical and learning skills are also important for employee and organization. This skill
can be developed in employee by using different practices. By taking notes of relative topic and
by improving reading skills of person. During the learning process making special notes and key
points can help to learn in effective way. In condition of any doubt person can ask question to
learn clear information about particular topic. By performing all the operation on own can help
the person to develop analytical and learning skills. The initiative skills in a person can be
improved by learning to speak with confidence in front of other people. Individual confidants of
person also help them to take initiative. If person is always ready for different situation then this
will also help the person to make effective initiative.
M3 Effect of Current Skills of staff and Management on Performance of Organisation
The current skills of employee and management are providing greater opportunity to
organization to perform better than the market competitors. This skill of employees are rare and
not easy to develop. So these skills are providing competitive advantage to Thomas Cook.
D3 Methods to Develop New skills
Different methods can be used by the organization to develop different skills in
organizational employees. These methods are based on latest technologies which are developed
to monitor and analyse the skills and performance of employees. This tools help the organization
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to keep track on the skill development plan. This provide good skill development system to
Thomas Cook organization.
CONCLUSION
This report is concluding the effectiveness of business of Thomas Cook organization.
Working and different processes used in organization are evaluated in this study. The different
skills of employees are analysed to check the performance of company. A skill development plan
is prepared to develop different skills in employees to improve the performance of organization.
Different methods and ways are suggested for the skill development in individual employee. The
impact on developing innovative skills in employees is evaluated for Thomas Cook organization.
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