Topic > Paradise Parks Case Analysis - 1562

Executive Summary Paradise Parks were the amusement parks started by Mr. Francis from an idea of ​​relaxation and shared humanity. The park performed well from the start but the problems start later and it has been a waste for the last two years. The park's finance director, Nathan Cortland, had an idea to solve the problem. Jill Hoover, CEO of the park, along with other members were unsure about the proposed idea as it was against the company's values ​​and culture. So the topic of discussion is whether Nathan's idea can improve the park's performance or compromise it? REPORT Situation Analysis The entire case revolves around Jill Hoover, the park's CEO and daughter of the founder and Nathan Cortland, the park's chief financial officer. Paradise parks have been profitable since the beginning, but the problem began in the last two decades, when their profits remained slim. And finally in the last two consecutive years they lost. There could be many reasons for this problem. Competition in the industry was growing and many new players were also entering, fighting for the same set of customers. Labor costs were rising due to low unemployment in the late 1990s. Due to a series of accidents in the industry, insurance rates had also soared and capital costs for building new attractions were also on the rise. And the property tax benefits the Park originally enjoyed were also about to expire. All of these factors resulted in high operating costs and ultimately a decrease in revenue. So the company had to come up with some innovative ideas to avoid the danger of bankruptcy or hostile takeover. To increase revenue, the park was left with only three options, namely increase visits per customer, increase average spend per visit,... .... middle of paper ... I will help the park attract new customers and increase visits per customer. The park should also start an internal advertising system, for this it should contact various companies to make them aware of the advertising facilities available within the park. This would help them increase their revenue. And once they generate revenue, they can invest it in installing the latest rides and improving infrastructure. Conclusion The above recommendations are given keeping in mind the point to improve the performance of the company. If they follow the given recommendation, they will not only increase their revenue but also increase the number of visits per customer and also attract new customers. They should not only follow these steps in the short term, but to get maximum benefits they should follow them in the long term as well.