Leadership strategy essay
Since it was founded, Priceline Group has been able to maintain its leadership position in the online travel industry thanks to an amazing system. The initial plan of action has ensured that it is stable with the people who have a stake in the corporation being part of its clients as well. These partners also offer the company's clients trustworthy recommendations. Through Booking.com, clients can recommend prices they are happy with, and the company can then make recommendations that would work for their needs.
Priceline Group has a number of key strengths, according to a SWOT analysis. However, they incorporate; productivity on how to handle customers, the organization's universal existence makes it reliable, a dedicated client base that ranges crosswise over nations, and having the capacity to extend and take advantage of new nations effectively (Goldsmith, 2013). Considering that, the organization has a few shortcomings. For example, dangers like terrorism that disturbs the organization's operations. However, the organization does not claim lodgings, rental autos, or carriers. Therefore, it must depend on different suppliers. Finally, the organization should be keen on the profoundly unpredictable securities exchange.
In spite of the fact that Priceline is the greatest and well-doing organization in the market, it also faces competition. Some of her greatest rivals are Orbitz World Wide and Expedia. Moreover, through Expedia was started about a year before Priceline. Currently, Priceline is four times greater than Expedia (Goldsmith, 2013). Nevertheless, Expedia remains a forceful challenger for clients over the globe.
Priceline procedure is extremely compelling. Initially, by asking customers what their value ranges are, the organization gives the customers an attractive situation to pick the best administrations that match their money-related abilities in a fair way (Chen, 2012). Besides, the close relationship with specialist organizations, for example, carriers, inns, rental auto organizations makes the organization to have the capacity to secure the best administrations for her customers. The patent method of business gives it security in that many individuals have a hand its actions. Subsequently, the organization contacts many individuals through associations and systems it has made.
Reference
Chen, C. H. (2012). Name your own price at Priceline. com: Strategic bidding and lockout periods. Review of Economic Studies, 79(4), 1341-1369.
Goldsmith, D. (2013). Rethinking the company's competitive advantage. Financial Executive, 29(6), 14-18.
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