Issues faced by Lost Creek Aging co.

Strategic Management
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Institution / Affiliation
Introduction
Lost Creek Angling Co. (LCA) is a company located in Southern British Columbia, Canada along the Wigwam River -and offers exclusive services in fly-fishing, camping, scenic float trip, and river traveling. It was founded by William Wilcox in his early 70s to earn profits before retiring. The company provides customers the opportunity to connect with nature and enjoy the best experiences of fly fishing (Byl & Parks, 2018). In the wilderness camp, customers have the option of staying for one to four nights in the camp. During this period, customers can choose between fly fishing and scenic float trip with an experienced travel guide. Most of the operations including the delivery of supplies and clients are conducted through the use of helicopters (Byl & Parks, 2018). That is, clients travel in and out of the camp through the use of helicopters, while resources are moved in and out of the camp in a similar way.
Issues faced by Lost Creek Aging co.
Despite the practicality of the business and exemplary services offered by LCA, the company faces some challenges. First, Wilcox was quickly aging, and his energy in the business was also declining. As such, he must find the best approach to transitioning out of the business. The company must also decide on the renewal of the existing company permit with the authorities (Byl & Parks, 2018).
Besides, the scarcity and limitation of rod days that are essential for fly fishing was a puzzle company required to unravel. Although the rods were available from secondary sources, their pricing is four times higher than in the direct market. Wilcox also needs to evaluate the proposal by the client who wanted to invest in the organization (Byl & Parks, 2018). With the heightened competition, Wilcox need to decide the perfect retirement age and also whether he should renew the regulatory permit to ensure that the business operates within the confined laws.
This project will analyze Lost Creek Angling co. to develop the most effective strategies the company can adopt to increase its profitability. PESTEL, SWOT, and Porter’s five forces will be used in this analysis. PESTEL helps to analyze external factors, including political, environmental, social, technological, economic, and legal aspects. SWOT analysis will help evaluate the internal and external environment that affects the organization, including the strengths, opportunities, threats, and weaknesses. Similarly, porter’s five forces analysis is an essential tool that will help LCA understand the forces that shape competition within the industry. The study will assist in adjusting the LCA strategy to improve its competitive edge, thus increasing the profits and brand image.
Internal analysis
Companies such as Lost Creek Angling can use different sustainable approaches to achieve a competitive advantage. For instance, LCA can use innovation and creativity to reduce production costs. Consequently, this leads to reduced prices for the final products. LCA can use a differentiation strategy to improve organizational strategy, brand image and increase the product portfolio. The company can differentiate its products to enhance the consumer experience by allowing consumer has a wide range of services to choose from (Man, 2016).
Lost Creek Angling can use a focus strategy to increase the overall quality of its services to customers. In the competitive fish flying industry in British Columbia, the organization needs to refine its quality to achieve a competitive edge. The company should ensure that the organization improves its service value at every step across the value chain.
Similarly, the company should employ human resource that is knowledgeable and skillful, with the ability to innovate effective business strategies. Also, LCA can achieve competitive advantage through cost differentiation by adopting techniques such as just in time, Kaizen, lean production techniques, effective creation process, adopt high efficiency, and use of appropriate dissemination channels.
PESTEL analysis
PESTEL analysis is one of the most effective tools used to evaluate the market environment. It helps a business analyze the external factors that affect its operations. By analyzing these factors, a company can gain insights into the external factors that impact strategy and business decisions (Wurthmann, 2019). Also, it allows top business management to access the risks specific to the industry and utilize the knowledge to make informed decisions.
Political factors
Political forces involve factors that are changed by the government's influence on the infrastructure of a country. These factors include foreign trade policy, political stability, labor laws, taxation, environmental laws, trade restrictions, and government policy (Wurthmann, 2019). The politics in British Columbia have substantial impacts on ecotourism activities such as fly-fishing. As such, Lost Creek Aging co profitability and operations are significantly influenced by government policies. For example, political stability and restrictions are vital factors that determine an organization's success and failure. On the same note, LCA can leverage government support and grants to grow the business and advancement of the company into new territories.
Technological factors
Analyzing technological factors provides insights into ways the business can embrace technology to enhance its operations and strengthen the brand image. For instance, the use of knowledge-based systems helps management to make informed decisions in real-time (Yüksel, 2012). Lost Creek Aging co. has not adopted the use of technology tools. For instance, the company lacks a social media presence and only has an informational website that does not support customer service and online booking. Besides, the company uses artificial flies’ fishing methods to complement natural baits prohibited in the camp area. In the competitive ecotourism industry, the organization need to utilize technological tools such as social media platforms such as Twitter, Facebook, Instagram, and other social media to reach more customers as well as address customer needs.
Legal factors
The legal environment plays a vital role in determining the success of businesses across the world. Regulatory measures imposed by governments help protect consumers from exploitation and other illegal activities and promote economic growth (Yüksel, 2012). To operate a fly fishing business in Columbia, a business must obtain a license that allows them to fish in the rivers. For example, the company has to apply for a regulatory permit granting access to the wilderness camp. Similarly, the organization has to seek daily tickets for fly-fishing guides to allow clients to fish in the rivers. With the new legislation on rod days, the business expansion and efficiency may be hampered by such regulations.
Environmental factors
These factors include ecological aspects such as environmental offsets, climate, weather, and climate change that affect business operations. Lost Creek Aging co. could only provide its services ...