UCAM/CIQ/204 Strategic Management & Leadership: TripAdvisor Report

This report provides a comprehensive strategic management analysis of TripAdvisor, focusing on its current challenges and proposing solutions for improved performance. The report begins with an executive summary and introduction, outlining the context and objectives of the study. It then delves into strategic formulation, including a PESTLE analysis and the identification of key competitive pressures. The core of the report centers on a three-fold strategy, comprising customer relationship management, social media strategy, and product development. Each strategy is examined in detail, with supporting figures and explanations. The report also explores how these strategies support innovation and change within the organization. An implementation plan is presented, outlining the steps required to put the strategies into action, including employee briefings and software installation. The report concludes with recommendations and a summary of the key findings, offering insights into how TripAdvisor can enhance its market position and achieve its strategic goals. The report also includes assignments, executive summaries, and an introduction.

Running head: STRATEGIC MANAGEMENT
STRATEGIC MANAGEMENT
Name of the Student
Name of the University
Author Note

1STRATEGIC MANAGEMENT
Table of Contents
Assignment 1..............................................................................................................................2
Executive summary....................................................................................................................2
Introduction................................................................................................................................3
Strategic formulation..................................................................................................................5
Customer relationship management strategy.........................................................................6
Social media strategy.............................................................................................................7
Product development strategy................................................................................................8
Manner in which Business strategy supports innovation and change......................................10
Implementation of the strategy.................................................................................................11
Stakeholder expectation fulfillment.....................................................................................15
Recommendations....................................................................................................................16
Conclusion................................................................................................................................16
References................................................................................................................................18
Assignment 2............................................................................................................................21
Part 1....................................................................................................................................21
Part 2....................................................................................................................................28

2STRATEGIC MANAGEMENT
Assignment 1
Executive summary
The strategic management can be understood to be an essential strategy which can be
generally adopted by the enterprise before proceeding with new offerings or before entering
new markets. In relation to this, it can be rightfully mentioned that, the given study is based
on the performance of Trip Advisor. The Trip advisor is an international travelling website
which offers great deals to the different customers as present. The main aim of the study is to
outline the current issues being faced by the firm and to recommend a plausible set of
strategies. The report has followed a comprehensive layout whereby a brief background about
the firm is followed by the analysis of the external factors and the examination of the
influence on the company. A strategy has been formulated and its linkage to innovation and
stakeholder management has been done. The implementation plan for the firm along with
product development recommendations has been advised.

3STRATEGIC MANAGEMENT
Introduction
The strategic management can be rightfully defined as a branch of management which
is essentially involved with ensuring that a company is being able to manage its overall
strategies in a successful manner. In relation to this, it becomes important to consider that all
firms who are involved in the business operations to formulate suitable strategies for the
purpose of the firm (Ambrosini, Jenkins and Mowbray 2015). In association with this, the
main aim of the report is to highlight the current condition of the chosen organization named
the Trip advisor so as to understand that its operational conditions can be improved
adequately. Relating to this, the main reason why the firm has been chosen for the purpose of
the analysis is the Trip Advisor has been suffering considerate losses from the past few years.
The reason for these losses can be understood to be the low booking rates which have been
greatly affected (Andersen and Sax 2019). In association with this, it is critical to mention
that the study will be following a systematic format whereby the beginning of the study will
be highlighting the relationships which generally tend to exist between the between the
different stakeholder groups and how the stakeholder relationships have to be met with
accordingly. In association with this, it becomes critical to mention that, other aspects which
will be considerably discussed can be understood to be the influence of the external factors
on the enterprise, internal factors and how a strategy can be formed in a sound manner
(Ansoff et al. 2018). Based on this, a particular strategy will be selected and in relation to
this, an implementation strategy for the firm shall also be determined which shall assist in
understanding how the strategy can be formulated for the purpose of the firm and how it will
be carried out. Certain recommendations to improve the scenario will also be provided.

4STRATEGIC MANAGEMENT

5STRATEGIC MANAGEMENT
Figures 1, 2 and 3: The current stock market positioning of Trip Advisor
(Source: Cnbc.com 2020).
Strategic formulation
The strategic formulation can be described as the act of formulating strategies for the
enterprise in order to bring about a change management program (Baumgartner and Rauter
2017). As the firm aims to engage in successful operations, the firm would be required to
revive its existing strategies. From the strategic formulation tools, it could be rightfully
mentioned that the Pestle analysis of the firm indicated that the competition for the enterprise
had become very fierce and hence, certain steps to improve the scenario had to be undertaken
so as to ensure that the overall performance of the enterprise could be improved. In
connection to this, it is important to mention that price competitions are not the solution to
reviving the firm and competing with the different competitors in the market. In place of this,
the firm would be required to see to it that it is being able to adopt the strategies which
compete in terms of service (Bonnafous-Boucher and Rendtorff 2016). If the service of the
firm is improved, the enterprise will be able to compete with the different companies who are
providing stiff competition. In addition to this, the Trip advisor would also be required to see
to it that, it is being able to formulate a sound marketing strategy whereby it needs to improve
its target market selection and segmentation along with the mediums with the help of which
the firm reaches out to the different customers. Once the firm will be successful in doing that,
it will be able to see an increase in its regular revenue and an improvement in the current
market share as well.
Hence, installation of the customer relationship management software will be highly
beneficial for the firm as it will help in communicating with the different customers on a
regular basis and in addition to this, it will also be able to assure the customers that they are

6STRATEGIC MANAGEMENT
being able to customize their needs and associate their travelling requirements with trip
advisor (David and David 2016). In consideration of this, applying the CRM strategy along
with the marketing strategy will help the firm in adopting the needs and requirements of the
customers. From these results, the plan will move towards adopting a Product development
strategy with the help of which the product alignment will be done with the customer needs
and the three fold procedure will help in attaining entrepreneur success. Hence, to discuss the
strategy and analyze its effectiveness, the three strategies will be examined:
Customer relationship management strategy
The customer relationship management can be described as an initiative which is
undertaken by the enterprise in order to strengthen their overall relationship with the different
customers. In the customer relationship management strategy, a firm generally tends to
develop a long term association with the customer and help in fulfilling their needs. This
association with the customer begins at a very early stage and goes on till the end of the
customer journey (De Gooyert et al. 2017). Hence, Trip advisor has first planned to install
Customer relationship software whereby it tends to interact with the customer on a regular
basis and in association with this, it intends to record the customer data, analyze trends,
predict consumer needs and monitor interactions with the help of which adequate scope for
improvement can be easily examined and assessed. In association with this, it becomes
critical to mention that, through the installation of the customer relationship strategy, the firm
will be able to understand what kind of products does the customer require and what would
be the effective way to serve the different customers (Ethiraj, Gambardella and Helfat 2016).
This strategy will be useful for the enterprise as it would contribute in identifying the
appropriate strategy for the enterprise and along with this, would also ensure that the firm is

7STRATEGIC MANAGEMENT
being able to understand the manner in which the overall associations with the enterprise can
be formulated and what products do they require.
Figure 4: The customer relationship management
(Source: Ferlie and Ongaro 2015)
Social media strategy
The social media strategy can be mentioned to be the second step of the three fold
strategy which shall be applied for the firm to improve its current situation and attain the
entrepreneur objectives. In consideration of this, it is relevant to mention that this strategy of
the enterprise is aimed at ensuring that the overall aims of the organization can be attained
and that the brand name of the firm can be improved accordingly. The social media strategy

8STRATEGIC MANAGEMENT
of the firm shall target various backgrounds of customers and make use of contests, clippings,
bloggers and related tools so as to understand the best way in which the customer needs can
be met with and the manner in which the popularity of the Trip advisor can be worked upon
regularly (Fool.com 2020). In association with this, it is critical to mention that the different
social media sites such as Twitter, Instagram and Facebook shall be targeted so as to ensure
that the firm is being able to attain its goals.
Figure 5: The social media strategy
(Source: Jones, Wicks and Freeman 2017).
Product development strategy
The last strategy which shall be applied for the enterprise can be understood to be the
Product development strategy. In this kind of a strategy, the firm will be modifying the
offerings of the firm based on the knowledge which it attains through the customer

9STRATEGIC MANAGEMENT
interaction, trend analysis from the software and the different social media interactions
(Frynas and Mellahi 2015). The product development strategies is one of the Ansoff
strategies whereby the firm aims to develop a new kind of a strategy in the market by offering
new products in the existing markets (Freeman 2015). However, this is the last step of the
three fold strategy and the firm shall apply the customer relationship management strategy
along with the social media strategy so as to understand how the firm will be able to perform
well and what modifications need to be made.
Figure 6: The Ansoff Matrix
(Source: Ketokivi and Mahoney 2016)

10STRATEGIC MANAGEMENT
Manner in which Business strategy supports innovation and change
Innovation can be described as the system in which the organization opts for better
quality products and services with the help of which the enterprise will be essentially be able
to perform well. In line with this, this business strategy which is existent shall support
innovation and change with the help of the new technologies being adopted. As the strategy
has been adopting the Customer relationship management software, this can be observed as a
step of Trip advisor towards innovation. In association with this, it becomes critical to state
that, the change management has also been carried out in the enterprise whereby the firm has
adopted the digital customer management instead of the manual operations. All the
employees need to be trained accordingly and in association with this they need to be briefed
accordingly before the operations are being carried out sufficiently (Lasserre 2017). Hence, it
is critical to mention that the strategies of Customer relationship management, the Product
development and the social media strategy will support the innovation and bring about a
change in the entrepreneurial operations.
Figure 7: Innovation and change
(Source: Miles 2017)

11STRATEGIC MANAGEMENT
Other competing strategies which have been applied by Trip Advisor earlier can be
mentioned to be the Market development strategy whereby it seeked to expand its operations
to the other parts of the country. In association with this, it is effective to mention that by
implementing this strategy the firm has supported its spirit and planning of evolving and
innovating.
Implementation of the strategy
All strategies which will be applied for the overall benefit of the organization need to
be implemented in a manner such that it aligns well with the overall objectives and that the
outcomes of the new strategic formulation and implementation can be attained. Hence, given
below is a step by step implementation plan which shall be adopted by Trip advisor to bring
into action its three fold strategy (Morschett, Schramm-Klein and Zentes 2015).
Plan aspect Contents Person responsible Outcome
Briefing of the
employees
Here the different
employees will be
briefed about the
plan and they will
be given an idea
about how the
situation needs to
be changed
accordingly.
Human resource
manager
Business
development
manager
Team Leads
The employees will
be informed about the
current scenario
which will assist in
ensuring that they are
prepared to
implement the change
accordingly.
Installation of the The customer The IT team This shall assist in