Thomas Cook Business Strategy Case Study Sample

Overview 

Thomas Cook is one of the leading travel agencies that provide a wide range of services ranging from foreign Exchange, MICE, Business Tour, Value Added Services, Personal Tour, Passport services, and E-Business. In 1981 the company set up its first branch in India. 

Thomas Cook setup operates over 25 countries on 5 continents. It has over 8388 employees and total revenue of over 6948.3 Cr. Till March 31st, 2020, Thomas Cook runs leading B2B and B2C Companies including SITA, Thomas Cook, AlliedTPro, TC Forex, TCI, Luxe Asia, Sterling Holiday Resorts Limited, TC Tours, TC Visa, Australian Tours Management, Travel Circle International Limited, Asian Trails, SOTC, Desert Adventures, Digiphoto Entertainment Imaging (DEI), Kuoni Hong Kong, Distant Frontiers, Ithaka, Private Safaris South & East Africa. 

Key Facts about Thomas Cook 

• In 1841 Thomas Cook set up its first office in India.
• In 2015 Thomas Cook (India) gained control over Luxe Asia. 
• As of 2020, it had a total revenue that’s more than Rs. 6948.3 Cr.

Vision

Thomas Cook envisions itself as a travel agency that’s loved by its employees, pleasing its employees, customers, and shareholders. The company must instill trust in its client. 

Mission Statement 

The Mission Statement of the Travel Company is to provide exceptional services provided by amazing people.

Values 

The company believes in teamwork or succeeding as a team. Proud values of the company are 

• The company aspires to be continuously innovative and challenge the status quo.
• The company is obliged to be loyal to the customers, keeping their promises and delivering what they promised.
• It promises to work together as a worldwide team.

Organizational structure

Thomas Cook is a trustworthy name in the field of travel and leisure. It operates across 22 countries across the globe. It emerged as a global enterprise in the realm of leisure and travel. It had a customer base of 23.6 million people worldwide, and an estimated worth of 9.8 billion Euros in 2018.

Company Structure of Thomas Cook 

Thomas Cook has a decentralized company structure, where the chief executives and board of directors have the responsibility to delegate duties and responsibilities to the respective department and sub-boards. 

It is a vertically integrated business enterprise with a downward management structure. Earlier, Thomas Cook sought help from the third-party outsourcing companies and leveraged finance and management service, thereby boosting organizational structure, and cost reduction. 

Managing human resources is a critical task for the HRM of a global enterprise like Thomas Cook. It is imperative to analyze the plans and strategy. Only then they will be able to manage the task force effectively. Companies should plan strategies to manage the work as a single task force. 

Enterprise should try to remove the discriminants prevailing in the task force and should try to give equal opportunities to all the laborers. This helps to remove the customer turnover ratio and maintains a smooth workflow in the concern. 

Thomas Cook SWOT analysis 

Thomas Cook is one of the largest international companies in Europe and the UK. It came into existence on 19 June 2007. It works with several tour operators, and airlines, operating across Belgium, Germany, United Kingdom, and Scandinavia. 

Strength

• Thomas Cook is one of the largest travel companies in the UK and Europe.
• It has a global presence for services like holiday packages, resorts, and hotels.
• The company has over 20,000 employees worldwide.
• Sponsorship of many cricket tournaments and events boosted brand awareness.

Weakness

• Loss of market share due to rising competition.
• The company refused to pay EU Compensation to US citizens. 

Opportunities

• Operations ought to be digitized to reach out to more audiences.
• It needs to expand to foreign markets.
• Emerging the largest travel company in Europe and the US 

Threats

• The profitability in the airline industry is on the low end.
• The Company is more likely to face tough competition from low-cost service providers.
• Government regulations are dynamic.

Products offered by Thomas Cook

Thomas Cook’s expertise at commercializing mass communication. They launched a couple of coupons that the customers could exchange for hotel stays and meals. The core product offered by Thomas Cook is travel packages that comprise accommodations, travel, meal, insurance, and cab booking. It works with Thomas Cook Airlines, Thomas Cook TV, Cook Condor Airlines.

Thomas Cook provides a borderless prepaid card, multi-currency forex card so that customers add multi-currency balances to the cards. Likewise, the enterprise offers insurance services for accidental cases, loss of luggage, and loss of passport. It also offers exclusive holiday packages for weekend holidays, senior citizen holidays, international and national holidays. For the inhabitants of Russia, Australia, New Zealand, and Europe.

People

Being a B2C enterprise, Thomas Cook focuses on serving its customers, and workers. The workforce of the company includes trained individuals who work as sales professionals, and tour guides who take tourists, and foreigners. It is present in 55 Indian cities and more than 5000 employees. The business has over 32000 employees, 96 fleets, and 3100 stores across the globe.

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