Professional Documents
Culture Documents
integrated travel and travel related financial services company in the country . 0 Services Offered:
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Leisure Travel MICE Corporate Travel Management Foreign Exchange Insurance E-Business
Risk Analysis
Key Risk 1)Brand ownership Impact Recommendation Company has entered a 1) The company can brand license promote a parallel agreement, with brand as a Thomas Cook UK contingency if the Limited and Thomas agreement fails. Cook Indian IP Limited 2) Being a famous for use of, amongst brand, the company other can pay a heavier things, the trademark royality and Thomas Cook. maintain long term relationship with its contractors
Impact The increasing penetration of the internet coupled with online payment solutions has forced service providers, i.e. airline companies / hotels, etc. enter into direct dealings with customers.
Recommendation 1) Increase Social Marketing Activities using Below-theLine advertising approach. 2) Open chain of resorts (Forward integration) 3) Strategic Partnership with state tourism departments
Impact The company has a risk management framework which sets policies and procedures to identify, monitor and manage our risks, thus risk management policies, internal controls and procedures may leave the company exposed to unidentified risks or unanticipated levels of risk
Recommendation Implement global Risk Management Frameworks like COSO, ISO 31000 etc. These frameworks have well set provision models for companies that keep changing business models like Thomas Cook
Impact Increased political instability, evidenced by the threat or occurrence of terrorist attacks, enhanced national security measures, conflicts in several countries and regions in which they operate, strained relations arising from these conflicts and the related decline in consumer confidence may hinder our ability to do business.
Recommendation 1) Improve CSR initiatives in operating countries to gain local Support. 2) Maintain a neutral partnership with political powers & the government. 3) Knowledge & technology transactions(if applicable)
Impact
Recommendation
The Travel and Tours 1) Early Bird offers, industry is cyclical and concentrate on sensitive to changes in financial services the economy. If the during economic economic growth of crisis. India slows down there may be a gradual decline in the willingness for people to travel.
Impact
Recommendation
Their Primary 1) Fail proof currency promoters are based hedging policies. out of UK, Forex 2) Monitor of the services offered by Currency regular their company may get reviews. afected by the currency volatility
Impact Their current Business model is easily replicable and that is why new corporations have eaten into the market.
Recommendation 1)Constant sweep for new business trends 2)Invest more in IPR and clear the 47 IPR cases still pending.