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Example research essay topic: Cruise Line Industry Carnival Case Study - 1,036 words

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... und the world. 2. Finance (Financial Analysis see Appendix E) a. Revenues have increased by 57. 20 % and the net income of the company has increased by 105 % since 1993. The companys liquidity ratios are weak and need attention.

Carnival has high profitability ratios and has decreased their current and long-term debt by using more liquidity. 3. Research and Development a. The company is constantly trying to upgrade their product. They do this by building new and larger ships. They offer more entertainment and activities on these ships.

They are also trying to expand their ports of call to new places around the world. This helps the company meet the vacation expectations of more and more people. 4. Operations and Logistics a. Carnivals operational experience in the industry allows them to have the lowest break-even point in the industry.

As a result of this, the company shows a higher profit margin when compared with its competitors. 5. Human Resources a. Carnival employees stay with the company on an average of eight years. This shows that the company has a low turn over rate. Human Resources effectively hire qualified employees who remain loyal to the company.

They also report that applications for all positions greatly exceed the need. b. The American Maritime Union has cited Carnival several times for exploitation of their employees. The employees are expected to work 10 -hour shifts with one day off per week. 6. Information Systems a. Carnival cruise lines are constantly upgrading the technology used in their ships.

The Windstar cruise lines offers three ships that are computer controlled. b. Carnival should try to make more use of the Internet. They could advertise and allow people to plan and book their cruises online.

D. Summary of Internal Factors 1. At the present time customer service and reputation are very important to the company. Another important internal factor is the ability of competitors to duplicate Carnivals success.

Other companies are building larger ships, expanding their ports of call, and offering high quality service to their customers. 2. Future factors to be considered include the marketing strategies of the company and the ability of Carnival to expand into new markets. V. Analysis of Strategic Factors (SFAS see Appendix C) A. Key strategic factors are: 1. Carnival expands its capacity through the merging and buying of other companies.

Chairman, Micky Arizona stated in a 1997 interview, Our strategy is to move into promising markets in a careful deliberate manner through acquisitions of, or alliances with, established leaders that share our views on growth (Carnival Corporation 1997 Annual Report). 2. Carnival caters to a very diverse population. They offer cruises that last only a few days and up to weeks. They also try to offer cruises to meet every budget. Finally, they offer cruises to many different geographic locations. 3.

Land based vacations are a big threat to Carnival. Many vacationers do not think of cruises when planning trips. At this time cruises are only 7 % of the North American vacation market. 4. Carnival strives to provide the highest quality service to all customers.

They achieve this goal by hiring and training efficient and hardworking employees. 5. Carnivals biggest weakness has been their failure to develop the Asian market. This market will be important for future expansion of the company. B. Current Mission and Objectives 1. The current mission is still relevant to the company.

It still states what the company is working to accomplish. 2. The objectives are still appropriate because they focus on diversification and expansion of the company, while meeting the customers needs and expectations. VI. Strategic Alternatives and Recommended Strategy (SWOT see Appendix D) A. Strategic Alternatives 1.

Differentiation Strategy: Carnival could make their cruises more unique and luxurious then other cruise lines. a. Pros: The product would draw in vacationers who are looking for a new and unique experience. b. Cons: Carnival might have to charge a higher price, which could cause more customers going to our competitors. 2. Encirclement Strategy: The Company could use their superior service, reputation, and diversification to take competitors clients away.

a. Pros: Carnival would gain a larger market share of the vacation industry. b. Cons: Competitors might reduce costs, which would cause Carnival to have to reduce prices. This would cause a lower profit margin for the company. 3. Growth with Concentric Diversification: The Company could expand into the airplane, hotel, or theme park industry.

a. Pros: This would help them enter new markets and therefore, raise their profit potential. b. Cons: There could be too much existing competition in those markets. 4. Market Development Strategy: Only 5 - 7 % of North American population take cruises each year.

a. Pros: Increase Companys share of existing market. b. Cons: This plan would need considerable finances up front. B.

Recommended Strategy 1. I recommend the Encirclement strategy, so that Carnival can capture a larger share of the cruise line industry. 2. Carnival should continue to build new and larger ships. They should also try to increase ports of calls and enter other markets. They need to offer more of a selection then their competitors. 3.

They company should maintain high quality service expected by customers. VII. Implementation 1. Top management should continue to merge with other companies and build new and larger ships.

They should increase their efforts to expand into other ports, particularly the Asian market. 2. The company should increase their marketing campaign. They should focus on the different price ranges available, the many ports-of-call, and the high quality superior service that is found on every Carnival cruises. 3. They need to develop a budget more concentrated on marketing and improvement of services. This will make their product seem more unique.

VIII. Evaluation and Control 1. A system should be developed to measure how quickly and satisfactorily customer needs are being met. The system should also look at how the services can be expanded and improved. 2.

Carnival must be sure that all the companies they merge with or purchase, share the same vision of customer satisfaction and service. 3. They should evaluate their financial performance and be sure that they are still operating at their high performance level


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