WHO: Creative Holidays
WHAT: address business and market positioning opportunities
WHY: increasing costs, new entrants to market, highly competitive market, back office inefficiencies and a growing trend of booking on-line
HOW: business case and implementation plan
Highly competitive market within existing channels, increasing costs, new entrants to the market, back office process inefficiencies, and the growing presence of travel booked on the internet saw this business need to refocus in order to continue to be a significant brand to the international holding company.
A business case, including forecast financial projections, detailing the benefits and investing in a direct consumer channel was developed. This involved working closely with the Managing Director who had a clear understanding in their mind of what the future looked like yet needed a documented business case outlining the changes required – in terms of structure, skills and competencies, marketing investment and initiatives, product, systems and process, and leadership.
The management team were closely consulted so as to understand their position on a new direction, their view on the current situation, and their leadership qualities and competencies in order to develop a draft business plan.
The draft business plan was presented by the Managing Director to the board for their input and buy-in. And parts were further workshopped with the management team. This final feedback honed the business plan and also formed the basis of an implementation plan.
A business plan delivered an 8 point plan for the board to quickly understand the key issues to be address, and actioned for the continued viability of the company. The plan illustrated to the board 2 financial scenarios: one to stay the same and the financial impact to the portfolio of brands; and the other a change to the business model and the improved contribution from the portfolio of brands. The 8 point plan – provided clarity, easy decision making, set accountabilities to the Managing Director and management that the board could monitor and measure on.