Carnival Corporation & PLC: An Economic Analysis
Carnival Corporation & PLC: An Economic Analysis
Bambi H. Walton
Columbia College BUSI 510
Dr. Jeffrey Snider Executive Summary
While over the years, Carnival has seen tremendous growth, in more recent years, profitability is decreasing and the fate of the cruise industry rests on the shoulders of Carnival and other cruise lines. In order to grasp this understanding fully, this report will look into Carnival’s background and what problems are plaguing not only this company, but also others in the industry. The market structure of the organization is provided in detail, along with graphical information in regards to the breakdown of market share. These graphical images show that Carnival currently holds the highest market share in the cruise industry.
To detail fully Carnival’s current state, a SWOT analysis is performed. This analysis demonstrates the strengths and weaknesses facing the organizations internal environment, as well as threats and opportunities from external factors. Additionally, current pricing strategies are listed in order to further reader’s knowledge about Carnival’s economic principles.
Based on the findings of the SWOT analysis, there are major weaknesses affecting Carnival’s bottom line. Recommendations discussed include: * Implementing policies and procedures to immediately deal with ship mishaps, while putting procedures in place to make safety a priority * Continuing its current pricing strategy with the addition of discounts for first time cruisers * Discontinue manufacturing of new ships and focus instead on renovating older ships and making them more safety oriented while adding the extra amenities cruise ship passengers look for
Carnival Corporation & PLC: An Economic Analysis
Carnival Corporation &PLC, the world’s largest cruise line company, offers consumers a resort style vacation on the open seas. Millions of passengers each year embark on vacations that offer the opportunity to venture to newfound
Bambi H. Walton
Columbia College BUSI 510
Dr. Jeffrey Snider Executive Summary
While over the years, Carnival has seen tremendous growth, in more recent years, profitability is decreasing and the fate of the cruise industry rests on the shoulders of Carnival and other cruise lines. In order to grasp this understanding fully, this report will look into Carnival’s background and what problems are plaguing not only this company, but also others in the industry. The market structure of the organization is provided in detail, along with graphical information in regards to the breakdown of market share. These graphical images show that Carnival currently holds the highest market share in the cruise industry.
To detail fully Carnival’s current state, a SWOT analysis is performed. This analysis demonstrates the strengths and weaknesses facing the organizations internal environment, as well as threats and opportunities from external factors. Additionally, current pricing strategies are listed in order to further reader’s knowledge about Carnival’s economic principles.
Based on the findings of the SWOT analysis, there are major weaknesses affecting Carnival’s bottom line. Recommendations discussed include: * Implementing policies and procedures to immediately deal with ship mishaps, while putting procedures in place to make safety a priority * Continuing its current pricing strategy with the addition of discounts for first time cruisers * Discontinue manufacturing of new ships and focus instead on renovating older ships and making them more safety oriented while adding the extra amenities cruise ship passengers look for
Carnival Corporation & PLC: An Economic Analysis
Carnival Corporation &PLC, the world’s largest cruise line company, offers consumers a resort style vacation on the open seas. Millions of passengers each year embark on vacations that offer the opportunity to venture to newfound