Corporate Objective and Overview at Ayurva Traveller
In order to provide my answers on the points given in this assignment, I would like to refer and access my current work place Ayurva Traveller.
Ayurva Traveller is an inbound tour company exclusively catering to wellness travel in Sri Lanka. It is a sister company under the umbrella of one of the leading travel brands we are mainly promoting three holiday destinations Sri Lanka , Bhutan and Maldives. We are the only local travel brand fully catering to this market segment of wellness and ayurvedic tours. Ayurva Traveller has inspired and started back in 2014 and as a growing company in a niche market it has been showing a continuous progress throughout this time.
The internal strategic decisions taken by the organization always influenced by the practical goals they have set. Below are the corporate objectives set to be achieved and assessed.
Profit Margins: Ayurva’s is already well established and catering to a one specific segment of customers and in order to grow and sustain on that stream they are highly focused on being more competitive with the price. They expect to have more negotiation power with the main suppliers and lower our cost yet giving the premium service. Ayurva is also looking at a certain marker expansion in terms of maximizing profits. They are planning to bringing luxury components as well to the products and trying to penetrate the market with more technical approach.
Sustainability: Ayurva’s is looking at both basic survival strategies as well as possible market expansion in order to maintain the sustainability of the organization. Having the cost leadership in the current market they want to make sure the organization will never be affected with consistence flow of income. Using more efficient and economical techniques to keep our operational cost low really helps this in long run. As for the expansion of business they are looking at adding luxury travel segment in to the scope where we can offer a premium price for a premium product which already showing so much potential.
Rise in the market share: The strategic business plan to increase market share for Ayurva would be to focus more on aggressive marketing campaign and be more competitive in terms of prices. They may work on some special offers and commission scheme to encourage our small and medium scale partners to bring in more traffic. But when moving to the new market segmentation “luxury” as I have mentioned above, they may need to go more deep on a proper investigation on the possible competition in both aspects as a travel company as well as a destination.