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Business Model and Strategic Plan Part II
When forming a newly created business, it is imperative that the proprietor understand the internal and external factors that influence the succession or demise of company. SpecialTs Travel Services will be challenged with continual legal and regulatory factors surrounding the employment of qualified and knowledgeable person(s) to handle the demands of the new division’s specialty services including one-on-one services of customer’s needs and demands. SpecialTs Travel Services must also evaluate the company’s ability to apply processes and systems which can adapt to the intermittent changes within this industry.
Economic, Legal and Regulatory forces and Trends
There are several external and internal forces that influence SpecialTs Travel Services ability to maximize the capabilities of the new division Beyond Travel. Advancements to technology within the travel industry will lead to the operation of direct personal services for thousands of customers within the next decade. The progression of this technology will result in the creation of federal regulations to accommodate the use of innovation. The development of more federal regulation should support the travel industry but will also add to the oversight of Beyond Travel intended business endeavor with the deployment of an automated personalized system which is a positive advantage for the business. However, Beyond Travel must adapt to the continual changes with newly created laws that may hinder the company’s business decisions as well.
SpecialTs Travel Services must formulate a strategic objective to adapt to the probability of internet hackers obtaining credit card information and the personal information of their customers. It is part of SpecialTs Travel Services social responsibility to ensure that the services provided by the newly created division align with industry and safety regulations. The advancement for innovative technological ideas is the trending source of legal and regulatory statutes which may impede the new business objectives.
Supply Chain
An assessment of the resources within the supply chain is a vital process required for a company to ensure delivery of the services to the end user. SpecialTs Travel Services will incorporate the use of a personal assistant travel management system to determine the status of request to assist in the advancement of real time delivery services. The goal of SpecialTs Travel Services is to deliver the best in class services; therefore, it is imperative that the supply chain is using top notch technological and human resource services as well. The supply chain within SpecialTs Travel Services will primarily consist of the employees of the new division Beyond Travel and the customers effectively communicating their needs and desires. Specialts Travel Services will develop strong relationships within the supply chain to maneuver among any issues that may arise regarding delivery of personalized services to support the company mission. These processes will assist in making a positive impact on the new business division.
Issues and Opportunities
The use of the new division personalized services offered by Beyond Travel offers multiple opportunities for customers. Technological advancements endorse the immediate delivery of these services internationally. Today we are using electronic transmissions, phone calls, internet services and facsimile machines each which promote instantaneous request of personal services. The employment of this new division created by SpeciaTs Travel Services would support this demand with the application of automated delivery of these services from the beginning of travel to the very end and all throughout the travel experience will be non-stop. Consumer’s request for services will be communicated immediately and provided just as quickly by Beyond Travel customer service representatives. The new division has the opportunity for increased exposure on the international level which could foster strong international commerce.
Major Issues Company Faces
Even though the travel industry has changed drastically over the past decade with easier access to the internet, allowing customers the ability to make travel arrangements with a greater ease and accessibility with a multitude of travel engines. SpecialT’s Travel Services new division Beyond Travel still has an opportunity to be a great asset to customers. SpecialTs Travel Services new division will be faced with a major issue surrounding knowledge of international amenities and the ability to deliver that experience Beyond Travel with ease as promised with the creation of the new division.
When considering the advantages the Beyond Travel division could provide within the areas of customer service the potential is endless in making a positive impact on the business but cannot ignore that there will be challenges that will need to be assessed and overcome within a timely manner in order to keep customers satisfied.
Conclusion
Within today’s business world it is vital that due diligence & deliberate research is performed regarding the impact of internal and external forces. Each of these areas may present a positive or negative effect on an organization; however, a business equipped with a strategic plan will allow the company to be prepared for the issues of substance that may arise.