new venture design
TRANSCRIPT
DESIGNING THE ORGANIZATION OF A NEW
VENTURE
SUBMITTED TO:-SUBMITTED BY:-
Mrs. Divya BhutaniAditya Singh Rana
401287002
TOUR AND TRAVEL COMPANY
I along with my friends have decided to start a tour and travel company. I gave the name ‘Globetrot Tour & Travels’ to it. This company will hold the responsibility of organizing and managing the trip throughout.
We will specialize in scheduling holiday programs at different places across the globe and customize private group holidays to various destinations globally.
MISSION
Basically we intend to create and nurture a hearty, lively, respectful, and amusing environment, in which our team members are reasonably determined to honor the customer and the kind of the service we aim to provide. In addition repercussion will be compulsory so as to assure customer satisfaction and form any progress as approved by the customers in forthcoming. We track down fair and culpable profit, ample to keep the company financially robust for the short and long term, and to reasonably reimburse employees for the performance and effort.
VISION
To grow into the best tour and travel company in the region and our consumers finest associate, always delivering the best possible service, with the topmost affection and demonstrating faithfully our responsibility towards social and environmental importance.
OBJECTIVE
Our business strategy will rotate around the need to provide quality service to our various target consumers, in the course of fully fulfilling their demands. This shall be initiated through enrollment of a professional team and the provision of good quality custom-designed travel packages, catering to the consumers special needs.
VALUE
PROPOSITIONS
CHANNELS
CUSTOMER
RELATIONSHIPS
CUSTOMER
SEGMENTS
REVENUE STREAMSCOST STRUCTURE
KEY
PARTNERS
KEY
RESOURCES
KEY
ACTIVITIES
BUSINESS MODEL
All inclusive travel packages
Customization Services (travel
insurance, pick-up) Seasonal dependent
offering Average prices
Salaries Rent Marketing Utilities
Airlines Hotels Resorts Tour Operators Insurance Providers
Sales Commissions
Skilled employees Good reputation and
brand name
Sales Marketing Designing travel
packages
Personal assistance
Front office Website
People who want all-inclusive vacations
CUSTOMER SERVICE‘Globe-trot Tour & Travels’ is a travel company that tries to give time off travel journey to customers. Globe-trot aims to guide consumers in selecting a tour(s) established on pre-defined vacation opinion. Service will be based on user details, set by the consumers themselves, which includes preferences such as:
Budget
Activities sought
Destination, and
Time of Travel
A traveler will therefore be able to customize the trip based upon his/her preferences and subsequently identify destinations to visit. The aim is to provide the package to the customers which have exclusive visiting sites, extra ordinary service and not just sight seeing.
INIT
IAL
ST
RU
CT
UR
E
MARKETIN
GAdvertisin
g Promotio
nService
ChainDigital
promotion
and selling
OPERATIO
N
Agents
Service
Planning
FINANCE
Raising
finance
Book
keeping
Managing
wages
Globetrot Tour & Travels
ORGANIZATIONAL STRUCTURE
Globe-trot Tour & Travels shall be managed initially by the three owner partners. The organization will focus more on a functional organization structure where members shall be concentrating on their best part of existing area of expertise. Nonetheless in engaging this organizational structure we aim to make sure that there is an open communication between all the persons in the organization. With such a batch we suppose it will be simple to connect with and support each other. Our company’s structure determines the attention we shall put on our service consumers, and ensuring their comfort in utilizing our services.
Marketing expert will take care of advertising the service qualities, maintain relationship with our partners and make strong bond with customers.
Operation expert will take care of delivery of service, networking circle (i.e. travel agents, guides, hotels etc.) and come up with new plans and packages to keep the price as low as possible.
Finance expert will take care of accounts, managing the expenses, track records of expense, arrange money for expenses, prepare balance sheet and final account and see whether the expenses and profits are made in a proper way or not.
ST
RU
CT
UR
E A
FT
ER
5
YE
AR
SMARKETINGDEPT.
OPERATIONDEPT.
FINANCEDEPT.
HUMANRESOURCE
Advertising Networking Bookkeeping
Recruitment and selection
Promotion Service Raising finance
Training programs for guides and employees
Distribution Planning Managing wages
Manpower planning
Online promotion and
Globetrot Tour & Travels
As the company grows there will be more structure to the utilizing, with new employees being assigned a supervisor or subordinate. When the company is at its full staff potential, it will operate as any closely held utilizing, but maintain the personal interest in each employee's personal and family welfare and their contributions to the business.
We acknowledge the fact that successful recruiting, motivation, and discipline procedures are keys to the growth of the utilizing. Hence we intend to promote and maintain good labor relations, strong morale and high quality work per employee.
HUMAN RESOURCES
After 5 years when we have more employees, than we can incorporate Human Resource Department. The responsibilities of this department is to recruit the right person for right job. But it has some other functions also like organizing training programs for guides and employees an manpower planning. So the HR department is being subdivides into :-
Staffing
Training
STAFFINGNeeds of the customer changes with the change in season. Seasonality usually means that staffing needs will fluctuate throughout the year. Employees turnover can be high. If our business is seasonal and we develop a strategy to meet these challenges. So to meet these seasonal demands, we can hire the employees according to our need. We can target different institutes who carry seasonal internship programs in there curriculum. These set of people can be recruited as seasonal employees in the spring and summer months. Our tourism business will benefit by providing practicum opportunities for these students. Some practicum programs do not require that a salary be paid, while others requires us to pay at least a
TRAINING
A business can grow if continuous improvement is done in it’s each and every sector. Continuous improvement can be brought up by addition of new skill sets amongst the employees through various training programs. So two sets of training programs will be carried by this department :-
General Training Programs (Day, evening and weekend course schedules)
Tourism-Specific Training (External Sources for definite period)
MARKETING DEPARTMENT
The main aim of marketing department is to target there customer. In order to improve our service, we need to understand the markets we wish to target, as well as the need of our service to the available customers. Our market is our target group of customers. Target group of customers can be identified through market research. The market research should be designed to define :-
• the customer we believe our service will most appeal to
• the experiences, services, duration of visit and price points most common within this market.
FINANCE DEPARTMENT
Finance department will take care of accounts, managing the expenses, track records of expense, arrange money for expenses, prepare balance sheet
Finance department is divided into two sub-departments:-
i. Raising finance for service and other expenses.
ii. Tracking record of cash inflows as well as cash outflows and managing wages.
One team raise funds for different expenses and other team will keep the track of money where it goes and from where it will come.
STEP BY STEP APPROACHGOAL
The ‘Globetrot Tour & Travels’ encompasses a large range of offerings. In this business we include tour planning and organizing services related to tour travel, leisure travel, subject travel, sports travel, education travel, etc. It also includes tour related services for inspection, exhibition, training, conference, etc. for business clients. Destinations from the whole world is included in your packages. We cater to inbound or outbound tour services like travel booking, hotel bookings, arrange travel schedules, VISA arrangements, etc.
STRATEGYInitially Globetrot Tour & Travels will focus on the local market in all the sectors mentioned previously. Our strategy is to grow the business by nurturing clients, differentiating the service from our competitors, particularly through service and staff behavior. All criteria from customer satisfaction, service provision, price competitiveness to staff attitudes are to be looked at thoroughly in the initial stages as areas for improvement. Alliances and collaboration with hotels, lodges and travel agencies are to be adopted as strategies for market penetration. Training will be conducted on a regular basis to ensure that our staff is fully meeting customer
THE STRATEGY SPACE
Defender
Our firm is a prospector it is high on
exploration and low on exploitation.
Our firm takes an aggressive approach
to innovation, systematically searching for
new opportunities. Our firm experiments regularly with change
as it has to experience different seasons with different requirements and needs.
Reactor Prospector
Innovation
Our tour and travel firm lies under
the Divisional configuration. The
divisional configuration is high
on the product/service/customer
dimension, but low on functional
specialization. As the main aim of the organization is Customer satisfaction (comfort) which relies directly upon the service we deliver rather on the internal departments coordination.
CONFIGURATION
Functional
Simple Divisional
Matrix
Functional Specialization
High
Low
Low
High
Product/Service/Customer Configuration