CORAL DIVERS RESORT: A Case Analysis
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Scuba diving is a rapidly growing sport, and one that is beginning to involve the entire family. Coral Divers Resort had a comfortable niche in that industry, one that had been enhanced by its owner, Jonathan Greywell's promotional strategy. According to the case study, "over the years, Greywell had established a solid reputation for the Coral Divers Resort as a safe and knowledgeable scuba diving resort. It offered not only diving, but a beachfront location. As a small but well-regarded all-around dive resort in the Bahamas, many divers had come to prefer his resort to other, crowded tourists resorts in the Caribbean." Greywell found this niche by creating short weekend and midweek diving ventures, a service that intrigued the public. Coral Divers Resort has targeted both the aficionado diver, and the tyro, both of which want maximum diving pleasure for minimum expense. The main issue in this case is what should Greywell do to enhance business, which has become increasingly flat. This paper shall consider some of the strategic options open to him, after first performing this abbreviated S.W.O.T. analysis. A classic method of performing competitive analyses of any new, emerging or maturing product is the use of a SWOT analysis that stands for Strengths, Weaknesses, Opportunities, and Threats. This analysis of Coral Divers Club will use this method. * The industry sector (sports diving) is strong and getting st
. . .
ative 3: Move to Another Location
In Greywell's business, there are basically three kinds of scuba diving available: beach diving, boat diving, and wreck diving. Beach diving involves moving into the surf or off jetties at points providing up to 10-20-foot visibility. Lobsters, crabs, striped bass and blackfish are plentiful in some spots. Boat diving involves Greywell arranging trips to take divers to unique locations.
Wreck diving involves visits to vessels long since sunk, at depths ranging from 35 to 110 feet. The wrecks are now home to all sorts of sea life, including lobsters, and provide interesting glimpses of seafaring life of other eras. Wreck diving requires a higher level of diving certification and various precautions. Whether or not Greywell would find similar locations that offer what he already has is moot. Before suggesting an alternative, it is wise to consider Greywell's current cash position as shown in the Case Study's balance sheet.
Greywell's Financial Situation
For the fiscal year 1994, Coral Divers Resort had the following assets.
Item
Amount
Cash
$5,362
Accounts receivable
$2,160
Inventories
$5,519
Pre paid expenses
$9,065
Total current assets
$22,106
. . .
Some common words found in the essay are:
Divers Club, Hawkins Coney1998, Location Greywell's, Divers Resort, Amount Cash, Market Research, Amount Accounts, Island Nassau, Diving Resorts, Justification Alternative, coral divers, divers resort, coral divers resort, accumulated depreciation, shareholders equity, diving involves, * resort, wreck diving, scuba diving, marketing strategy, initial market research, total liabilities,
Approximate Word count = 1620
Approximate Pages = 6 (250 words per page)
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