Analyze external and internal influencing factors related to the selected issue
Consult academic literature and case studies/reports from other organizations to discuss best practices related to managing the selected issue.
A corporate governance strategy is a specialized tool for successful business strategic planning and is critical in making high-level business-related decisions such as setting long-term goals and subsequently allocating resources toward policy implementation. help. Achieve your goals (Martins, Oliveira, Popoviá 2014). The use of technology is considered to be the most important and important business management strategy to ensure maximum success and competitive advantage without complexity in any kind of business. It is also required to raise the company’s revenue to a high level, which will give the company a large profit. The following report outlines a brief discussion of the use of new technology to increase sales at London’s Merlin attractions, including external and internal factors, management of issues, and recommendations for improving the Merlin experience. Explained with relevant details.
Technology is used in many ways to improve organizational effectiveness and efficiency (Williams, Rana, and Dwivedi 2015). Understanding operational efficiency and maintaining the right culture and hierarchy within a company is considered one of the most common and important strategies for business leaders. The use of this technology guarantees the security of your data and information in the most effective way. Technology also helps companies separate their ideas from the big competition.
Merlin Attractions London, like many other companies, leverages emerging technologies within their business to increase sales and ultimately achieve maximum success and profit. They have created a plan in place to allow management in any situation (Merlin Digital Guest Journey). 2019). Popular Merlin attractions in London include the Coca-Cola London Eye, Madame Tussauds, Alton Towers Resort and Chessington World of Adventures Resort, and Blackpool Tower. As we ensure maximum popularity and success in our attraction centers, it has become important to incorporate more diverse technologies into our business. To this end, the company has integrated various types of technology in-house to gain a significant competitive advantage.
However, despite this effectiveness and efficiency, there were problems associated with the technology used to increase overall sales. The biggest problem facing Merlin attractions is the huge cost of this technology, which leads to increased sales. Maintaining technology within an enterprise is often costly, and ultimately the enterprise loses control over costs. As a result, high costs can be shared within the company (Baptista and Oliveira 2015). The next most common problem common to such engagements is the high potential for data breaches and cyber threats.
An organizational environmental analysis is performed after identifying internal and external influencing factors (Venkatesh, Thong, and Xu 2016). Below is a detailed SWOT analysis to identify the internal factors of London’s Merlin attraction.
|i) Technology helps increase sales of smart devices.|
ii) The Merlin attraction in London also has significant potential resources with new technology for customers.
iii) The company also gains a significant competitive advantage with this technology.
|i) The first weakness of the new technology at the Merlin attraction in London is the large investment in technology.|
ii) Another major and significant weakness of the new technology at London’s Merlin attractions is new entrants (Dwivedi et al. 2019).
|i) One of the biggest and most important opportunities for new and emerging technology at London’s Merlin attractions is major technology trends. ii) Another significant and noteworthy opportunity for new and emerging technologies at London’s Merlin attractions to gain competitive advantage and foster better perception. This will improve overall corporate governance and popularity to a high level (Dahlstrom and Bichsel 2014).||i) The biggest potential threat to new technology at the Merlin attraction in London is technical failure affecting business operations. This can have a significant business impact and the organization may suffer losses. ii) Another common and significant threat posed by new technology at the Merlin attraction in London is the potential for data breaches. Merlin Attractions is primarily a customer, so a data breach would be very dangerous for the company. iii) The possibility of cyber-attacks is also regarded as another significant threat to the business of Merlin Attractions London.|
External factors that influence the impact of technology implementation on the business of London’s Merlin attraction can be identified through PEST analysis. Below is a detailed PEST analysis identifying external factors at the Merlin attraction in London.
Politics: London’s political backdrop has always been very strong for companies and organizations, which is why some companies are very popular to do business in London (Lazar, Thompson, Demiris 2014). The UK government is providing support to these businesses and some tourist destinations and attractions have remained open for extended periods of time. Similarly, the growth of the Merlin attraction in London received political support from the government and leveraged new technology to grow its business.
Economics: The second most important factor in PEST analysis is economics. Successful implementation and use of this technology requires significant investment and maintenance costs. As a result, the company may suffer significant losses in its economic background. Additionally, due to the high maintenance costs and customer dependency of these attractions, organizations should ensure that routine maintenance is performed on a fairly regular basis, especially for rides.
Social: His third most important component of PEST analysis is social. The Merlin attraction in London is so popular and important that it is used by several companies for all types of customers of different age groups (Aagaard 2015). Its social impact is enormous and its popularity has led to it incorporating new technology into its business to make the attraction even more innovative and creative than others.
Technology: The technology factor has had a huge impact on the Merlin attractions business in London. As all rides and attractions are powered by technology, organizations must ensure greater effectiveness and efficiency in all conditions. It also includes the benefits of embedding technology into your business. However, these technologies can pose significant challenges for businesses as they require huge investment and maintenance costs. Technology is developed to address every problem and every opportunity. These companies use technology to expand their core competencies and serve their customers. A core vision of business owners is to identify customer needs and develop ways to meet them (Eyyam and Yaratan 2014). However, managers also need to use technology to achieve some goals and employ skilled technologists to carry out their ideology. Companies can gain competitive advantage without using technology. This type of strategy is designed to manage business activities at the greatest possible level within an organization.
Take on one of the central roles in developing the corporate governance strategy and implement the corporate governance process (Teo and Noyes 2014). Finally, we will focus on building an appropriate basic framework for corporate management activities through the organization, direction and management of business implementation. Technology then impacts the core competencies of businesses in terms of their core purpose of communicating with customers and enabling businesses to interact with them and create a strong public image. This technology has tangible and intangible benefits that can be monetized by delivering results that meet customer needs (Beckman, Bennett, and Lockyer 2014). The entire technological infrastructure is responsible for influencing company culture, efficiency and relationships. It also affects the security and commercial benefits of confidential and confidential information.
About 77% of the total population of the City of London purchased tickets through the device, and in 2018 he analyzed that over 1.1 million people downloaded the Merlin Attraction application. This refers to the fact that the use of new and modern technology is very popular at Merlin in London. Of this his 1.1 million people, about 30% of users signed up for Merlin’s active his marketing. In terms of sales, it has been observed that 32% of total sales occur online, and the company can increase sales by acquiring more customers. The three most important and important aspects considered in Merlin’s organization in London are:
Driving increased sales: The first and most important aspect to consider about the Merlin attraction is that London is driving increased sales through the introduction of online features, commerce and even short breaks (Gay et al. al. 2016). Your entire organization can easily and quickly manage complexity and problems while achieving greater efficiency in all situations. As a result, the organization will be highly successful in business. Support the productivity agenda: Ensuring creativity and innovation with technology also supports the internal productivity agenda. The introduction of new and updated technologies brings high levels of innovation and is responsible for driving high levels of productivity-related complexity.
Improved Customer Satisfaction: Additionally, it incorporates technologies that ensure increased customer satisfaction (TosuntaÃ…Å¸, KaradaÃâÅ¸, Orhan 2015). Such apparent satisfaction is made possible by completing a digital journey, so Merlin needs to invest more in digital technology and marketing.
He has three key strategic priorities for technology in the enterprise. The first is to strengthen the foundation through e-commerce, gastronomy, vacations and proper infrastructure. These fundamentals are responsible for ensuring that companies provide maximum benefits to their customers. Our second strategic priority is to protect our business through GDPR, PCI compliance, and regional data.
Technology in the enterprise has three key strategic priorities. The first is to strengthen the foundation through e-commerce, gastronomy, vacations and proper infrastructure. These fundamentals are responsible for ensuring that companies provide maximum benefits to their customers. A second strategic priority is securing the business through GDPR, PCI compliance, and regional data centers (Westerman, Bonnet, McAfee 2014). This ensures that your data and information are safe and protected from any problems. Our final priority is to support customer satisfaction through our CRM, WiFi and website. Merlin must technically consider these aspects in order for its services to be error-free and effective.
One of the most popular examples of how companies use technology is Salesforce. They implemented a CRM solution for their company that used machine learning to create a comprehensive database of customer profiles and identify opportunities (Innovation Case Study, 2018). As a result, they achieved the greatest possible success in their business.
Proper recommendations are necessary for the primary purpose of improving corporate governance and increasing the chances of increasing the company’s success and profits. The two most relevant recommendations for improving the business of Merlin attractions in London are:
Create websites in other languages: The UK is a multilingual country, with people from different parts of the world and from different backgrounds. However, the majority of the population prefers English, so the official websites for these Marlin attractions are in English. As a result, some citizens from other parts of the world cannot operate the website due to their lack of English proficiency. Therefore, Merlin Attractions London strongly recommends creating websites in other languages such as Chinese, German, Spanish, and French. It will cover nearly all major diverse languages around the world and the total number of customers will increase. In addition, it will also establish your company’s brand image and ultimately generate more business.
More investment in digital technology: The second important and critical recommendation for Merlin’s attractions business is that London encourages more investment in digital technology. These technologies are the systems and tools responsible for generating, storing and processing sensitive data. The most prominent examples of these technologies are social media, multimedia, mobile phone integration and online gaming. Since then, London’s Merlin attraction has played a role in attracting a wider audience, especially among the younger generation and children. It is therefore important to ensure further investment in digital technologies to bring more innovation and creativity to high levels.
Therefore, from the above discussion, it can be concluded that new technology must be used appropriately to increase sales for Merlin Attractions London. Technology is being used in businesses of all kinds to improve caregiving, human resource management, transportation, and business communication. Improving services and products can even be the primary way to gain competitive advantage within a company. The above report provides a detailed analysis of Merlin Attractions London’s use of new technology to increase revenue.
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