To support the independence of the American colonies from England, and to support the liberties of mankind. Summary: I am an English politician, spokesman, and journalist of radical discontent.
I am pro-Americanism and pro-separation from England. Firmly believe and support religious tolerance, freedom of the press, and Parliamentary’ reform. I inspire American Whig and other colonists with my attacks on King George Ill and the British government and by defending the berries of Englishmen.Some call me the champion of the powerless against the privileged. Once the American colonists declared their independence, my support for them decreased and I slowly became a more conservative politician. Professional Experience: 1757- Member Of Parliament for Lawlessly, I fought for religious liberties of Catholics and Protestants outside the Church of England. ; 1762- Published a weekly radical article called The North Briton ; 1 774.
Admitted to the House of Commons to represent Middlesex and supported the rights of the voters rather than the House Major Accomplishments: Struck against government abuse of civil liberties by challenging general warrants ; 1763- Published The North Briton, No. 45 attacking King George Ill on his speech regarding the Paris Peace Treaty of 1763, and was arrested for libel ; Denounced the Declaratory and Townsend Acts Taught people new ways to redress grievances using courts and publicParty leader of the London Radicals and an Idol of the London opinion ; Mob ; Inspired colonial Americans, with my fights against the government, to create the Bill Of Rights References: James Otis John Hancock Sam Adams John Adams Member of Boson’s Sons of Liberty *The following men wrote letters to me regarding their grievances with the King, in hope I could help convince the government to reconsider their harsh policies, and thanking me for supporting the cause of liberty and mankind.
BUSINESS POLICIES AND STRATEGIES 11 Running Head: BUSINESS POLICIES AND STRATEGIES 1
BUSINESS POLICIES AND STRATEGIES 11
Running Head: BUSINESS POLICIES AND STRATEGIES 1
Business Policies and Strategies
Business Policies and Strategies – Six Flags
The founder, Angus Wynne opened Six Flags’ first theme park, Six Flags Over Texas in 1961, which is still in operation today. Mr. Wynne’s vision was to make theme parks convenient and affordable with this idea he built several theme parks in different regions around the country to make them closer to where people lived. Six Flags was named after the six flags flown at Six Flags Over Texas park which represented the six cultures and areas featured in the original park. Today, Six Flags Entertainment Corporation (Six Flags) has 16 parks situated all over the United States and which offer water rides, concerts and merchandise, and through licensing agreements with Warner Bros and DC Comics. Consumer Products, Six Flags is able to offer character-specific (e.g. Batman and Bugs Bunny) rides and merchandise based on those and other popular DC and Warner Bros. characters (Swanson, 2015).
Mission and Vision Statements
To create memorable experiences that is fun and entertaining for all of our guests.
It is the aspiration of Six Flags to create memorable experiences that are fun and entertaining for all guests. To be the industry leader in quality entertainment in the theme park industry. To maintain a healthy financial position, be the employer of choice, and serve the communities in which we operate in with the highest standards of safety, guest services, merchandise, and entertainment.
SMART Goals and Objectives
Six Flags’ goal is introducing new attractions in all its theme parks, in every year to improve guests’ experiences. In 2016, Six Flags introduced 14 new rides and attractions in 14 of their 18 theme parks. Six Flags’ goal is to dominate the theme park industry with innovative thrill rides and attractions, ticket prices that are affordable for everyone and unbeatable customer service.
Competitive advantage is the uniqueness of a company which allows it to outperform its business rivals. The industry analysis models like the Porter’s Five Forces are used in developing strategies of positioning the company to possess a competitive advantage over its rivals. Porter’s Five Forces model examines the threats of substitutions, threats of new entrants, supplier’s power, consumer’s power, and rivalry (competition) within an industry such as the amusement park industry (Levitt, 2014).
Three major competitors in the theme and amusement park industry are Disney, Universal Studios, and Six Flags. The competitive advantage Disney has maintained is keeping its brand known and varied businesses. The Disney brand is known all over the globe and its varied businesses include amusement and theme parks, entertainment (television, movies, and radio), merchandise, interactive media, and travel (Disney cruises). Source for competitive advantage for Universal Studios include brand/name recognition and its film industry association. Universal Studios, just like Disney is a brand/name which is known around the globe and with its many themes based on famous films such as The Cat in the Hat and the Harry Potter. The third main competitor is Six Flags, with its headquarters in Texas, with numerous theme parks and water parks which are located all over the region. Because it has various locations within the U.S. it provides the company with a competitive advantage over its rivals with less locations and the other is its loyal clients.
Current issues which affect the industry include the economy, competition, and changing consumer preference. The amusement park industry is more competitive with many companies operating the business within the United States. The economy is another issue facing the industry because when the economy is slow consumers are less likely to spend money on luxury things such as making trips to an amusement park. Economy fluctuations means fluctuations in profits collected from the amusement parks. The third issues facing the industry are consumer preferences. Customer preference vary with time and with that change amusement parks require to venture in rides and attractions that will draw repeat customers and attract fresh ones in an effort to increase consumer loyalty.
Of the three major competitors, Six Flags has the firm competitive advantage when it comes to issues concerning amusement park industry. It is continually venturing in new rides, innovations and attractions to attract new clients and retain loyal customers. Because Six Flags has several locations around the country it is easily accessible to most consumers without the need to travel long distances. Since there are several locations around the U.S. fluctuations in the economy would have some impact on revenues but not as much as if there were only a few locations hundreds of miles apart requiring long distance traveling.
The biggest competitor in the amusement park industry is Six Flags due to its numerous locations within the region and their loyalty to clients. The problems which face the industry include extreme competition, economic fluctuations and consumer preferences which keep on changing. Other major competitors include Universal Studios and Disney. Competitive advantage is what gives one company the edge over another company within the same industry. Porter’s five forces model is an instrument used for conducting analysis in an industry.
High growth rate
Market entry barriers
High loan rates
Global market entry
(Six Flags – SWOT, 2016)
High growth rate
Market entry barriers
Six Flags profitably operate 16 theme parks within the region and which gives the company its advantage over other parks which operate less than five theme parks within the US. As Six Flags operate 16 theme parks within the region, all located within approximately 100-mile radius of a major metropolitan area it has the potential for high growth rates as those cities continue to grow. Market entry barriers are strength because the market is highly competitive that many start-up theme parks do not last in the industry (Barrie, 2017).
High loan rates
Competition is a weakness because not only does Six Flags have to compete with other theme parks, such as Disney, and Universal Studios but also with other entertainment options, e.g., movies, concerts, and sporting events. Being a seasonal company is a weakness because most revenues are generated in the summer months between Memorial Weekend and Labor Day Weekend. When seeking loans for upgrades, expansions, or general purposes, loan rates are higher because of the risk of the business and it being seasonal in operations.
Global market entry
Six Flags currently owns approximately 5,500 acres of land of which about 1,000 acres could be developed for new theme parks. There is the potential to purchase existing smaller theme parks as well. The Global market is another area of opportunity with the having signed agreements to develop Six Flags theme parks in China, Dubai, and Vietnam. There is a growing demand for theme park entertainment both domestically and internationally giving Six Flags a growth opportunity.
Negative economic conditions adversely affect the financial position of Six Flags. Six Flags relies on the discretionary incomes of its guests to generate revenues when consumer confidence in the economy is low attendance and profits decline. Weather is a threat because when the weather is bad or extreme conditions, attendance declines and depending on the severity of the weather the park may be forced to close until the weather clears. Business risks include the risk of accident or injury occurring within the theme park. Accidents at Six Flags or another theme park could adversely affect the reputation of the Six Flags or the theme park industry which would have a negative impact on both causing guests to reconsider their entertainment options.
Increase in visitor attendance
As more consumers look for entertainment options attendance to theme parks is increasing and this trend should continue for at least the next few years. As attendance increases, profits increase. In order to keep up with this trend theme parks are continuing to upgrade their park with new rides such as interactive rides and 4-D rides. Theme parks are also starting to offer guests FAST-pass, in which they are given time to ride and skip the line, and dining passes that allow guests to eat anywhere and whenever they want in the park. As these park and guest services, upgrades continue the theme park industry will continue to see an increase in attendance which positively impacts revenues.
This perceptual map is based on two criteria, location, and price of admission, which seemed to be the most influential factors for amusement park attendees. Location of theme parks is important because the closer the theme park is to where people live the more likely they are to visit it rather than travel a great distance to attend a different theme park. This is one of the many reasons why Six Flags stands out among other theme parks. It has a total of 18 parks situated all over the region and in most of the areas is a little distance from a main metropolitan area, e.g., Six Flags St. Louis, Six Flags over Texas, and Six Flags over Georgia. The other criteria for the perceptual map are cost. The cost of a 1-day admission ticket to Six Flags averages just $65 compared to Disney at $115 and Universal Studios at $100. When comparing price and location many theme park goers would prefer cheaper and closer to home. Six Flags is aware of their customer preferences and continue to dominate the theme/amusement park industry.
The perceptual map criteria include cost and location, which seems to be the main deciding factor when visitors attend the theme parks. SWOT analysis included domestic market – strength, competition – weakness, growing demand – opportunity, and economy – threat, and park upgrades – trends. Analysis of the industry shows Six Flags with the major competitive advantage basing on its numerous locations within the main metropolitan areas such as Missouri and St. Louis. Six Flags main competitors are Universal Studios and Disney theme parks located in Florida and California. Six Flags aims to initiate fresh attractions in all its theme parks each year. Their mission is to create memorable experiences that are fun and entertaining for all of their guests. Six Flags opened its first theme park in 1961, Six Flags Over Texas, and was founded by Angus Wynne (Vogel, 2016).
Barrie, I. (2017). Leadership: Strategies and Tactics for Success.
Levitt, J. (2014). Strategic Analysis–Six Flags Entertainment Corporation.
Swanson, D. J. (2015). Monsters, Ghosts and Coasters; Noise, Toys, and Sea Creatures: Comparing Six Major Theme Park Halloween-Themed Events.
Vogel, H. L. (2016). Amusement/Theme Parks and Resorts. In Travel Industry Economics (pp. 219-231). Springer International Publishing.