Developing initiatives to improve financial stability
A British Waterways case study

Page 1: Introduction

All organisations require the use of resources. Whether these are physical resources, such as property, equipment and materials, or less tangible human resources, money is required to pay for their use. As a result, the management of finance is always inseparable from the management of every organisation as a whole. Revenue flows, from various parts of every business, change from time to time...
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Page 2: Mission and objectives

British Waterways, like all business organisations, whether in the public or private sector, serves the needs of various groups of people known as stakeholders. A mission statement shows stakeholders what an organisation is trying to achieve. British Waterways’ mission statement: ‘Our business is to manage the inland waterway system efficiently for the increasing benefit of the United...
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Page 3: Responding to customer demands

Historically, money had been the root cause of many problems in nationalised public corporations like British Waterways. Although millions of people were enjoying using the canals and waterways, it was difficult to respond to consumer needs and make many improvements to the waterways. British Waterways only earned about 30% of the money needed to maintain the waterways and it was, therefore...
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Page 4: Funding

There is a widespread recognition of the vital role of waterways and their role as an important catalyst for urban and rural change. As a result, a variety of sources of funding have helped to co-fund water-related regeneration and development projects. These funds cannot be used to meet or substitute Government statutory obligations and can only be used on canals called ‘Remainder&rsquo...
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Page 5: Leisure and tourism

No organisation can exist without a good understanding of the market-place in which it operates. For British Waterways, market analysis helps to: identify the competition improve knowledge of consumers and competitors use trends to forecast future activities develop plans and strategies which provide a competitive advantage. Almost half the UK population lives within five miles of a British...
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Page 6: Conclusion

Changes to funding provisions were always likely to be a challenge for British Waterways. However, it has led to a process of commercialisation which has not only generated more revenue but has also led to increased investment, greater usage and media profile. British Waterways is a market-oriented organisation with specific aims and objectives. It can continue to develop its existing business and...
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Related: NATS
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