Should Roger Expand His Business – Assignment Example
The paper "Should Roger Expand His Business" is an excellent example of a business assignment. This assignment refers to address the question of whether Mr. Roger should expand his business now on the basis of the external environment or not?
Mr. Roger must plan his business beginning with a SWOT analysis, that is by analyzing the four factors, namely, Strengths, Weaknesses, Opportunities, and Threats for his business. Quick reference to the statistical information will only suggest the present situation, but a SWOT analysis is one that will get you the holistic picture of the trends of the business.
The Major ‘Strength’ is Mr. Roger’s business acumen in the travel business, as it appears. If we reckon the ‘Weakness’, again Mr. Roger’s lack of orientation on Strategic business management comes to our mind.
On seeing some sites as a quick reference, we find good ‘Opportunities’ exist for travel business. For instance, one of the sites suggests that surface travel arrangements by travel agents for employees to go for work are encouraged by a lot of local employers in the UK.
The major ‘Threat’ is internationally spread terrorism, besides the current meltdown scenario, which would make business houses conservative in their business travel choices.
The above observation is just from hindsight. But, it is important that Mr. Roger takes the following steps:
1. To do a professional SWOT-ting immediately for his business
2. Set a clear MISSION as to what he would do in the next five years. This will be a firm and confident commitment expressed in a clear and specific statement of objectives.
3. If the above two steps encourage him to expand his business to a level, beyond his individual capacity, then he must think in terms of creating a corporate body which will enable him to raise funds for bigger investments, without much difficulty, and with reasonable risks.
4. He must also enter into worldwide collaboration with travel business organizations, with clear business arrangements, for expanding the scope of business.
Perhaps, the strategic approach under item 4, that is a collaboration with worldwide organizations, can be taken up immediately. He may progress with the other three items for expanding his business on a long-term basis, simultaneously.
With regard to the Website, it is a basic requisite today and it will not be expensive as he presumes. But, what we should be concerned with is to make people visit the Website. That is more expensive but inevitable.