Thomas Cook: Company Core Competences and Characteristics
Thomas cook is a worldwide known company where more than 20 million customers choose to book their holidays with the company per year, with Thomas Cook and its subsidiaries companies. From the beginning of the Thomas Cook and Son in 1872 until 2014 the corporation have suffered a few setbacks during the years, many buyouts from different companies, with the world wars and economic recessions but the company kept, for many years, adapting to new situations, responding to new issues and keep selling package holidays to the public across the world.
Familiarizing with new situations and adapting to new markets have been key to the tourism companies over the past years and even though Thomas Cook was bought by a foreign company, the German corporation called C&N Touristic AG and had assets and subsidiaries companies sold around the world, the company had a completed a new structure policy to maintain the viability of the business.
Even though many changes happened over the years, many companies have been bought and sold, Thomas Cook has a set of competences and these competences have maintained throughout the years. This assessment has the objective to understand what the tourism market has as a characteristics and how Thomas Cook have been using their competences to adjust to the market and surviving over the years as a respectful and famous company not only in Britain but the world. Five different questions will be answered about the Characteristic of the tourism business, core competences of the company and how these competences have distinguished Thomas Cook from the other tourism companies around Britain.
1 – What are the competences that characterize the tourism industry sector?
Within the tourism industry, being a service provider to the consumer, it is easy to find a few competences to characterize this segment in the market. For a tourism agency like Thomas Cook seasonality can be a very important characteristic of this market. For the sun seekers the summer is the season to be explored and for those who practice winter sports, winter is the only option. Butler (1994) described seasonality as the time-based difference in the phenomenon of tourism, which may be expressed in terms of dimensions of such elements as numbers of visitors, spending of visitors, traffic on highways and other forms of transportation, employment and fees to attractions. Most companies in the tourism industry find it very hard to discover a way to fight against seasonality and most of them cannot compete with this issue. Perishability can also be a very important factor for the industry, once that the time has passed, hotel rooms and plane sits cannot be sold.
The high cost of the industry is also a very important characteristic. From airplanes needed to be bought and maintain, software’s to be developed and people...