Business free essay: Employing Strategy in a Competitive Environment
Employing Strategy in a Competitive Environment
The threats of the private transport industry in which York Trans Rove specializes comprise regulatory measures amid several transport industry needs amongst a host of other factors. Currently, global technology and transport solutions increasingly target reduction of cost and emission. Environmental regulation as part of enforceable corporate social responsibility poses questions on the sustainability of ordinary fossil fuel models into the future, with greener innovations appearing in the market. The requirement of greener models and the cost of acquisition of the emergent technology act as a hindrance to the long term strategy laid down using the current fleet. Campaigns of efficiency national transport systems advocate for mass public means of transport as a preferred way of reducing losses and costs, posing a major threat to private transport services (Cooper, Mundy and Nelson 2010).
Unforeseen eventualities in the infrastructure and national as well as global economy continue to pose a threat to the transport since antiquity. Complex innovations across the infrastructure needs imply that a compromise calls for a great deal of investment to rectify the challenge. The level of damage that the multi-billion dollar industry suffers during eventualities is irreparable in the modern day exposing the customers and the company to serious losses. As an illustration, the recent trends of extreme weather pose serious challenges of maintenance of the integrity of transport infrastructure such as roads, making reliance on such transport services risky in this era of efficient business practices (McSherry, 2002). In addition, the volatility of the global economy and the uncertainties it brings to corporate strategy options exposes the York Trans Rove to unpredictable market threats.
Service and fleet portfolio at York Trans Rove elevates the company as a daring participant in the New York market, where many players would not easily find it easy to penetrate. Having entered the market as a small scale player and navigating through the competitive space at its current portfolio presents resilience and conviction to market participation (Loh, 1997). In terms of this internal belief for undisputed possibilities, the company has established a strong foundation to dare pose competitive challenge against giant players such as Enterprise Rent-A-Car Corporation. The concept of operating as a small company focused only of growth prospects as opposed to a huge company considering downgrading operations under a particular pressure presents York Trans Rove with a unique set of strengths.
The motivation to grow and expand business across the country is an opportunity and a unique strength for the company. A strong brand name works in favor of market exploits attempted by York Trans Rove, through an efficient social media campaign and attractive pricing as well as service delivery when compared to the competing companies (McSherry, 2002). Among staff strengths enjoyed by York Trans Rove, competent and courteous service has always formed part of the corporate culture as opposed to infamous taxi drivers. York Trans Rove holds a zero tolerance policy to adverse customer complaints, especially for drivers who refuse to ferry clients for certain fares, a practice equally prohibited by the national laws.
Optimizing the Strengths
A fleet portfolio covering the middle and higher market ends with customized transport packages appealing to the customers is a strategy that can be enhanced for better market exploitation. In terms of the current level of operations, York Trans Rove will stick to its traditional clientele base as they target expanded market. Customer loyalty translates to a better brand that must always remain ahead of company growth projections in order for success to be assured. Posing as a daring small entrant into a ‘big-boys’ arena will facilitate the development of the appropriate environment for growth outcomes. Holding true and closely onto the ambitious growth beliefs and values will facilitate building of goodwill and appealing brand across the market. A highly disciplined will also attract a competitive advantage since drivers and other service staff will positively act as agents of positive transformation and service delivery.
One of the main competitive rivals in the taxi business in New York City is perhaps Andrea Car Service, due to similarities in terms of market coverage and market segmentation specifics. As detailed in the business profile, the York Trans Rove targets the middle and higher end private markets by offering taxi and luxury car rental services (Copping, 2009). In comparison with the services provided by Andrea Car Service, it is nearly a transposition of market coverage and service portfolio. However the momentous nature of the opportunity availed by the market in New York is the ever growing demand for private travel, perhaps due to the strategic position that the city occupies in tourism. The other major competitor in terms of car rental service portfolio emanates from Enterprise Rent-A-Car Corporation, which is not only the biggest in the entire North America but also has significance coverage across the major market targets for York Trans Rove.
Within the circumstances of a sluggish US economy, the company will be compelled to alter its strategy to accommodate the shrink impact. Among the alterations to be considered, projected fleet expansion will be scaled down to reflect the capital spending trends in the market. Alternatively, York Trans Rove will incorporate car rental services without designated chauffeurs for the luxury service in order to reduce prices and create a competitive edge against the competitors offering such services for instance the Enterprise Rent-A-Car Corporation. The company will also enter into an agreement with the staff members in order to discern if the current staff base will absorb wage cuts and cover extra tasks to avoid idle time and wastage (McSherry, 2002). In addition, the management at York Trans Rove will consider postponement of expansion of coverage outside the New York City until the financial constraints are over.
In terms of pressure exerted by global competition in the taxi and car rental industries, York Trans Rove may be forced to adopt certain practices in order to remain on top of the business rivals. The private travel experience in the other parts of the world may compel York Trans Rove operating at one of the main global centers of attraction to raise its standards to a level above ordinary cities. As an illustration, the taxi operators in the entire New York have a specific standard that stipulates the car models to apply as taxis. It implies that the regulations at the city are geared towards a uniform service that brings out the expected experience.
Cooper, J., Mundy, R., & Nelson, J. (2010). Taxi! Urban Economies and the Social and Transport Impacts of the Taxicab, Surrey, England: Ashgate Publishing Company
Copping, R. (2009). The Heart of Business Success- How to Overcome the Catch-22s of Growing Your Business, Cornwall, UK: Ecademy Press
Loh, M. (1997). Re-engineering at Work, Brookfied, US-VT: Gower Publishing Limited
McSherry, P. (2002). Mean Streets: Confessions of a Nighttime Taxi Driver, Dundum Press, Ontario, Canada: Anthony Hawke
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