Monet Resorts Business Report Samples †MyAssignmenthelp.com

Question: Discuss about the Monet Resorts Business Report. Answer: Introduction The business units and organizations have adapted to the idea of globalization, advancement and digital innovation. These units are exploring new methods and mechanisms through which they may serve their purpose of meeting the customer needs with maximum profits and revenues. On the lines of the same idea, five holiday resorts have agreed upon the concept of a shared business unit by collaborating with each other. These resorts have decided to execute the business operations through a single entity which will be called Monet. The online presence of the collaboration will be marked by a website and a mobile app and these two platforms will be used for the execution of all the front end and back end activities for Monet. List of Management Decisions A loyalty programme termed as MonetLoyalty will be designed to attain maximum customer satisfaction and to maintain their engagement with the business organization (Orlitzky, 2015). Interactive tools in the form of responsive web site and interactive mobile application will be designed to maximize the user interaction and maintenance of transparency with the users. Business integration of all the operations and activities at the front end and at the back end will be made possible through the use and the implementation of an ERP solution. The customers will have the ability to manage their accounts themselves using a high-level Web 4.0 medium which would also allow the customers to manage their details (McBurney, 2015). List of Assumptions The various terms of services that will be carried out jointly by the holiday resorts have been planned, analyzed and finalized in advance and a legal contract has also been prepared and signed by all the five parties. The functional aspects and the system qualities of the web site and the mobile application will be the same (Popp, 2017). The set of expenses that will be necessary in the process of collaboration have been estimated and finalized. The roles that will be carried out by the executives and resources at all the five resorts have been determined. Information System (IS) and Information Technology (IT) Technology is an application of scientific and automated concepts and ideas for the execution of a particular task. It is made possible by the involvement and collaboration of various elements with each other. Two of such elements under technology are the information system and information technology. It is often believed that these terms have the same meaning which is however not true. Information System or IS, is the quality and availabilitymanagement of a specific set of information. In order to manage the information sets correctly, it is required that the various operations that are executed on these sets are adequately done. These operations can range from viewing, modifying, updating, writing etc. on the information sets. The issues that may be associated with these operations having an impact on either the quality or availability of the information sets are the ones under IS issues and problems (El-Awad, 2017). Information Technology which is normally abbreviated as IT is rather associated with the technical aspect of information. The technical tools, technical infrastructure and applications, technical services and their integration etc. come under the domain of IT. If there are issues involved in respect to any of such technical components then such issues are included in the domain of problems related with IT (Bruni, 2014). Issues covered in the Category of Information System (IS) The quality or availability of the information can be impacted by the occurrence of security attacks and risks as described below. Confidentiality Attacks The properties of the information such as its confidentiality are an integral part of the overall quality of the information. The occurrence of events such as breaching or leakage of the information sets or any of its attributes can impact the information quality as a result. Integrity Attacks The information may get transferred and transmitted over a lot many networks and networking components and there may be attacks that may result in the violation of the integrity of the information (Chasserio, 2014). Availability Attacks Availability of the information is an extremely significant property of the information sets as the entire service may come to a state of breakdown in case of information unavailability. Such a situation may be caused by flooding attacks. The end-users or the internal activities present within the application or a system may not be in accordance with the best practices which may have a negative impact on the performance. Ineffective communication may also lead to IS issues as the end result would not be as per the expectations and specifications. Customers are the entities that will be hugely impacted by the IS issues and their occurrence. It is because the customers will be directly affected by any of such events. The customers would want the services that are provided by Monet to be smooth, reliable and accurate. With the occurrence of an IS issue, none of these parameters will be met. The customer experience will be poor and it would be difficult for the customers to maintain the same level of trust and engagement with Monet all over again in the future. This will impact the business side as well as their customer base, market shares and brand image will come down. Issues covered in the Category of Information Technology (IT) Monet is a business unit that will have its online presence via a website and a mobile application. For the efficient working of these platforms, a number of technical applications, services and operations will be involved. In case of a failure of any of such component, the after effects will be negative (Antunes, 2014). The components may also suffer the compatibility and integration probelms (Secundo, 2017). In such an issue, the desired working of the web site or the mobile application will be difficult to achieve and maintain. The main entity that will have an implication due to the occurrence of the IT issues would be the customers. It is because the customers will be directly affected by any of such events. The customers would want the services that are provided by Monet to be smooth, reliable and accurate. With the occurrence of an IT issue, none of these parameters will be met. The customer experience will be poor and it would be difficult for the customers to maintain the same level of trust and engagement with Monet all over again in the future. This will impact the business side as well as their customer base, market shares and brand image will come down (Fengel, 2014). Ways to Attract New Customers There are various stakeholders that are associated with every business setup. It is necessary to maintain stakeholder engagement with all the stakeholders so that the business aims can be met. However, there is one stakeholder and entity that is involved with every business setup and it is the customers. It is very important for business units like Monet to maintain and upgrade its customer base to make sure that its hold in the market never drops down. In order to do so, there are certain strategies that may assist Monet to achieve the same. The new customers or the customers that have not used the services of a business get attracted towards it only when they see an offer that is of their advantage and the one that is not being offered by any other business. Monet should adopt the strategy by offering exceptional discounts at the time of first booking by any customers so as to maximize the customer base. Social media platforms and networking mediums have took the market by storm in the recent years. These platforms have made it possible for the business units and the customers to directly stay in contact with each other without the presence of a mediator. The business units can acquire customer data around their choices and preferences through these platforms and customers can get to know about the latest offers. Therefore, such platforms shall be used adequately and intelligently so as to market the business offers and services correctly. A social media team shall be separately set up for the execution of these activities. The data from different sources such as customer feedback, social media groups, market channels etc. shall be captured and analyzed by the team of Monet. This data will provide the exact demands of every customer group and the set of expectations of the customers from such business units. The offers, services and strategies shall then be designed accordingly (Wamba, 2017). There are customer groups that may have different demands such as backpacker groups and family groups will have different expectations. The demands of all such groups shall be met for providing a diverse range of services. Monet must use secure payment channels and gateways so that the customer trust is maintained and the competitive edge is gained. There shall be no risks possible in the areas of financial or electronic payments. Alerts and reminders shall be used intelligently to make the customers know about the latest offers and services (Brocke, 2014). There are many off-beat and lesser known travel destinations that are being visited and explored by the travelers and groups. The major issue in such locations is of stay and meals. Monet must analyze such trending destinations and shall introduce the offers and deals around these places. Exploration of New Business Opportunities There are endless opportunities that have been made possible for the business units to step into with the emergence of cloud based services and platforms. There are virtual operations that the business can perform and provide the services to the users without affecting the existing structure. Monet must also continue to explore the new opportunities and must add the same in its set of operations so that the customer base and revenues are maximized. Monet must collaborate and partner with some of the other tour and travel agencies to provide the customers with an itinerary for their trip at subsidized rates at the time of the booking. Custom itinerary along with the set of the popular places to visit in an area must be highlighted. Similarly, there must be collaboration and partnership with the transportation agencies as well so that the customers may select and book the desired mode of transport at the place they will be traveling to (Giudice, 2016). Transportation is a basic requirement while traveling in a new place. The modes of transport for sightseeing or visiting a particular destination must be arranged and shall be allowed to be booked in advance. The data from different sources such as customer feedback, social media groups, market channels etc. shall be captured and analyzed by the team of Monet. This data will provide the exact demands of every customer group and the set of expectations of the customers from such business units. The offers, services and strategies shall then be designed accordingly in terms of new opportunities and capabilities. The customers that travel regularly and frequently must be provided with additional benefits and services in terms of the offers and deals (Ferretti, 2016). In such a way, the customer engagement with Monet will be maintained. Also, the customers will let other individuals know about their experience which would allow Monet to have increased business opportunities to be carried out. Travel has become an escape route for the present generation to relax and get the minds refreshed. It is because of the reason that the schedule of the people in the current times is very busy and occupied. Monet must make sure that it works towards providing an integrated travel experience and solution to the customers so that they do not have to worry about anything once they finalize the booking. It should be efficient to arrange for the desired travel modes, places to stay, places to visit, places to shop and eat and transportation arrangements for the customers. This will ensure that the customer base of Monet is expanded and the better reviews are also earned. Conclusion Five holiday resorts have agreed upon the concept of a shared business unit by collaborating with each other. These resorts have decided to execute the business operations through a single entity which will be called Monet. There are various initiatives and decisions that have been taken by themanagement to provide the customers with required service. The customers would want the services that are provided by Monet to be smooth, reliable and accurate. However, some of the IS and IT issues can prove to be hurdles in achieving this aim. There shall be use and application of adequate controls to prevent and detect such issues. It is very important for business units like Monet to maintain and upgrade its customer base to make sure that its hold in the market never drops down. It can be done through social media groups, discount deals and offers, specific strategy making for customer groups etc. Monet must also continue to explore the new opportunities and must add the same in its set of operations so that the customer base and revenues are maximized. References Antunes, A. (2014). MUVE IT: reduce the friction in business processes, 20(4), 571-597. https://dx.doi.org/10.1108/BPMJ-07-2013-0093 Brocke, J. (2014). Ten principles of good business process management, 20(4), 530-548. https://dx.doi.org/10.1108/BPMJ-06-2013-0074 Bruni, A. (2014). Entrepreneuring together: his and her stories. 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