Strategic business analysis is the process of viewing the overall business and get organisational change. This Strategic Business Analysis centres on Tower Transit Singapore seeks to become the top transport provider in major cities globally. A thorough analysis of the organisation's goal-achieving, good management and industry-leading methods is part of the research. In particular, the activities of Tower Transit in the United Kingdom are going to be discussed. The aim is to identify critical success factors and areas for development by closely examining their tactics, output and market positioning. The main goal is to recognise significant patterns, obstacles, and chances that can support Tower Transit's growth into an effective industry leader in public transport.
Statement Discussion:
Reviewing, comparing and contrasting recent approaches:
Reviewing:
In order to improve decision-making, Tower Transit Singapore has adopted modern management accounting technologies. It runs more than 700 buses and 60 services (Towertransit.sg, 2024). The company can collect and view vital functional and financial data due to these technologies. For example, advanced techniques enable Tower Transit to efficiently manage the big network of 60 bus services and 10 bus junctions (Towertransit.sg, 2024). It also helps to optimise routes and compare results to industry standards.
Comparing:
The handling of 1,250 buses and a large staff by Tower Transit Singapore along with RATP Dev London shows the need for efficient management accounting systems (Towertransit.co.uk, 2024). By comparing strategies, Tower Transit's strategic tools fit in perfectly with their dedication to millions of passenger journeys each year. It shows that complex accounting techniques are required to effectively manage big businesses. Tower Transit is better prepared to manage the challenging balance between running costs and service quality due to the methods in the training. These strategic tools, in contrast with regular finance, offer good views that guarantee Tower Transit can skillfully handle the changing needs. These are the needs of the public transport industry while maintaining growth and growing company value.
Contrasting:
Tower Transit Singapore uses cutting-edge techniques to increase business value contrasting to traditional approaches. Traditional methods might not have the vision required in the ever-changing public transport industry. There was a total 202.8 billion revenue on the transport industry in 2019 in the UK (Statista.com, 2024). Tower Transit uses a forward-looking strategy by utilising strategic techniques from the Business Analysis course. Using these technologies, the business is better prepared to identify obstacles, manage resources effectively, and promote long-term success. In contrast to ordinary finance, Tower Transit's creative approaches provide a good view of operational details. It guarantees flexibility in satisfying market demands (Tsaousoglou et al. 2021). In a transport market that is always changing, this good approach not only ensures service quality. It promotes good growth and increases business value.
Description of the applicability of the approaches used in the organisation:
Tower Transit Singapore's skills in managing licenced bus services for Transport for London since 2013 (Towertransit.co.uk, 2024). It shows the crucial role that technical tactics like financial and risk management play. Strong budgets are necessary, as shown by their unique joint venture with RATP Dev London in 2021. It operated one of London's biggest bus firms with 1,250 buses and 250 million passengers yearly (Towertransit.co.uk, 2024). Tower Transit has to manage its finances wisely in order to allocate funds for its large bus network as efficiently as possible. The tools of risk management help with cost analysis, viewing and budgeting (Lee, 2021). These technologies enable Tower Transit Singapore to manage its financial issues. The issues are continuous service providing, helping with resource allocation and cost control. Tower Transit operates around the clock, seven days a week. Risk management becomes essential in view of the size and nature of the public transport industry. Tower Transit is well-suited to use these methods for recognising risks, assessment and mitigation due to their vast skills.
This shows handling unplanned operational difficulties, price variations for gasoline and even delays in service. Tower Transit maintains client satisfaction and the general honesty of its business. It is by using risk management measures to assure the quality of its services. Having 112 routes and 10 operational bases, Tower Transit's broad network generates a lot of data that may be used as a strategic advantage (Towertransit.co.uk, 2024). Tower Transit Singapore is able to use this data to make well-informed decisions due to the tools that are discussed in the Business Analysis course. The company's long-term success is mainly due to the data-driven insights that improve operational efficiency, from resource allocation to route planning. In order to, the use of smart financial and risk management instruments is essential for Tower Transit Singapore's activities in the United Kingdom. These solutions help with good decision-making, risk reduction and good financial care as a major participant in the London bus services industry and especially for Tower Transit Singapore.
Statement validity analysis:
The statement seems to be appropriate. The strategies and methods taught in the Strategic Business Analysis course are extremely helpful. It is in providing senior management with information that is focused on making decisions, which in turn increases the value of the company. These methods are actively used in the field of education and training at my organisation. The use of such tools is visible in a number of ways in our learning environment. First off, the tools help with cost analysis and planning for various training courses in financial management. This guarantees the best possible use of financial resources, improving the overall efficacy of our educational programmes. Furthermore, risk management tools are vital for seeing possible problems with programme delivery. So we can actively fix them and keep up the high level and durability of our training initiatives.
Furthermore, making decisions based on data is essential (Tseng et al. 2021). We are able to examine the performance, plan efficacy and use of resources due to the methods that we have learned in this course. Our strategic planning is informed by this data-centric approach. It enables us to adapt our training courses to suit the evolving needs of both the business. Additionally, the tools help evaluate how training programmes affect skill development and overall efficiency in the context of employee training. This ensures a cycle of great development by assisting in the decision-making process for the next training programmes.
Discussion on the applicability regarding required approaches in the organisation:
There are many areas within the company where the methods and concepts from the Strategic Business Analysis course are highly useful. This is especially true in the area of Education and Training. By the use of these resources, the technique is able to allocate financial resources more effectively by making well-informed judgements (Reddi, 2023). For example, these technologies assist in cost analysis during budgeting for various training programmes. The total expenditure in local public transport in 2022-2023 is 4.34 billion pounds (Statista.com, 2023). It shows the best use and enhances the overall efficacy of the learning efforts. These solutions' easy combination into financial management fits the good character of the industry. It enables the company to efficiently respond to changing demands in learning.
Figure 1: Public sector transport revenue UK
Furthermore, risk management techniques are essential to curricular work. Through early analysis and solution of possible issues with execution, it can ensure the continuity and quality of the company initiatives. The company has some cost savings issues. For example the company has been awarded for 56 bus services with total 1 billion dollars contract fees over 5 years (Towertransit.sg, 2024). The total cost can be pulled down by using good cost saving techniques. Thus, this significant technique seems to be the required one for Tower Transit Singapore. The tools offer numerical data that help assess risks. It works as a good basis for decision-making that can improve the durability of the Tower Transit Singapore.
To sum up, it can benefit greatly from the skills and techniques learned in the Strategic Business Analysis course. As these are applicable to financial management, risk reduction and good decision-making. These methods provide numerical data that serves as a great basis for strategic planning. It makes sure that the educational programmes are effective and flexible enough. It is to change with the needs of the training and education landscape.
Possible role in introducing some key tools and techniques:
Financial modelling, which involves creating calculations of the cost analysis and budgeting for training programmes, is one vital tool. By the creation of this instrument, it is able to precisely view the expenses related to different educational projects. For example, financial modelling's numerical data might view areas of spending or regions where investments provide the best returns (Luintel et al. 2020). Like the 1 billion spending for Tower Transit Singapore (Towertransit.sg, 2024). It can better allocate the financial resources and make sure that the budget is in line with the strategic objectives due to this information. For example, if it discovers that a certain training programme is more expensive than expected, it may make changes. It is for improving savings without losing the quality of learning.
The decision making theory views risks and uncertainty (Chen et al. 2022). Tools for risk management would be very helpful in knowing and reducing any problems. These tools allow giving risk-specific numbers, which makes risk assessment easier. For example, numerical data can help the company view risk related to resource availability and its likelihood as well as its impact. Choices are made using an approach that rates activities according to how serious the risks are. It can ensure the balance and quality of the training programmes by taking good measures. It is to mitigate high-impact and high-likelihood risks first. The educational efforts are going to be solid in the face of challenges due to this method.
Organisational change:
Tower Transit Singapore may undergo a good organisational change. It can be possible if important tools and strategies from the Strategic Business Analysis course are put into their operations. This is especially true given that they have been operating their major franchised bus services for Transport for London since 2013 (Towertransit.co.uk, 2024). Financial modelling is one important component. It shows creating numerical pictures of cost analysis and budgeting for the vast bus network. Financial modelling can optimise resource allocation, offering efficient operations and affordability. It is with the use of nearly 1,250 buses running on 112 routes (Towertransit.co.uk, 2024). To improve overall financial sustainability, Tower Transit can actively modify its budget. It is by noticing particular routes or services that have higher expenses.
Also, Tower Transit's ability to face obstacles in the public transportation industry can be greatly impacted by the integration of risk management techniques. This large network of 112 routes and 10 operating locations makes numerical risk management vital (Towertransit.co.uk, 2024). Tower Transit can view problems by viewing possible disruptions and putting a number of risks. A company culture may change for the better by using a good mentality (Canning et al. 2020). It is due to this great approach to risk management. For instance, the company can take great action to reduce possible problems.
Conclusion:
Thus, it can be concluded that Tower Transit Singapore's operations have found Strategic Business Analysis tools and procedures. It has been very helpful in managing the details of the wide range of bus services. Financial model is used to allocate resources properly, ensuring cost-effectiveness across their extensive network of buses and routes. Using risk management tools helps the organisation be stronger. It is by addressing possible patterns and promoting a good attitude. By using data analytics technologies, decision-making based on numerical data is improved. Operational efficiency is enhanced for the benefit of more than 250 million consumers annually. The study's overall findings show the main effects that these tactics may have in the big field of bus service. It is on organisational culture, financial sustainability, and consumer happiness. Tower Transit Singapore is in a good position to become a more flexible, effective, and customer-focused organisation. It is by carefully using the concepts of strategic business analysis.
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