According to Cummings (2003), the word strategy comes from the Greek language and is a combination of the words army and to lead. Carter et al (2008) argues that the word strategy is linked both to the military and business fields and has been used in the second approach since the end of the Second World War when some entrepreneurs started to implement strategic planning in their business
Big projects and most of the businesses require a plan where the expected and not so expected opportunities and obstacles are forecasted, aiming to survive successfully when facing competition. According to Chandler (1962), when environment changes take place, the urge for new strategies emerges and the company is therefore driven by its new structure.
It is known that Carnival Corporation started as a small business, and driven by its founder through his enthusiasm, goals and plans it became an industrial leader. He proved his ambitious when buying the distressed company just after two years of operation. Aiming to be different from the other cruise ships from that time, Carnival gave special attention to the passengers’ needs and was the first cruise line company to provide a more entertaining atmosphere onboard.
In order to have a precise business plan and know where it will be in the future, every company needs a focused concept of the current environment where it operates. Who are the people involved, what is the business concept, what are the opportunities, who are the competitors, what are the keys to success? Once all these questions would probably lead to more questions, a research process should then be started to obtain the answers, according to Cyr (2007).
Inhaltsverzeichnis (Table of Contents)
- Introduction
- The Company
- Concept of Strategy
- Business Planning
- Pestel analysis
- Porter's Five Forces
- Strategy
- Vision
- Mission Statement
- Goals
- Values
- Monitoring and evaluating
- Corporate Governance
- Conclusion
- Recommendations
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This document aims to analyze the strategic business management and planning practices of Carnival Corporation & plc, a leading global cruise line company. The document explores the company's history, current market position, and future strategy in light of its competitive environment. Key themes of this analysis include:- The concept of strategy and its application in the cruise industry
- External environmental analysis using PESTEL and Porter's Five Forces models
- The development and implementation of a comprehensive business plan
- The importance of corporate governance and its role in strategic decision-making
- The impact of the company's strategic decisions on its financial performance and competitive advantage
Zusammenfassung der Kapitel (Chapter Summaries)
Introduction
The introductory chapter introduces Carnival Corporation & plc, highlighting its global reach, diverse brand portfolio, and impressive fleet size. The chapter also defines the concept of strategy, tracing its roots from military origins to its application in modern business practices.Business Planning
This section examines the importance of comprehensive business planning, particularly in a dynamic environment like the cruise industry. It emphasizes the need for a thorough understanding of the external environment through tools like PESTEL analysis and Porter's Five Forces model. The chapter also presents a brief history of Carnival Corporation's growth and its distinctive approach to catering to passenger needs.Strategy
This chapter delves into the strategic components that drive Carnival Corporation's success. It explores the company's vision, mission statement, goals, and values, illustrating how these elements shape the company's overall direction and decision-making processes.Monitoring and Evaluating
This section addresses the crucial aspects of monitoring and evaluating strategic performance. It highlights the significance of corporate governance in ensuring transparency, accountability, and effective decision-making. This chapter also discusses the methods used by Carnival Corporation to track and analyze its progress against its strategic objectives.Schlüsselwörter (Keywords)
This document focuses on strategic business management and planning within the cruise industry. Key terms and concepts explored include: strategy, PESTEL analysis, Porter's Five Forces, corporate governance, vision, mission, goals, values, competitive advantage, and financial performance.- Quote paper
- Bettina Carollo (Author), 2010, The World’s Most Popular Cruise Line, Munich, GRIN Verlag, https://www.grin.com/document/191738
