German newspaper Bild has reported that German tour operator Tui Group, which owns a range of well-known UK travel brands including Thomson, First Choice and laterooms.com, has asked those hotels it uses across Greece to sign new contracts. These spell out how Tui will pay its bills if Greece leaves the Eurozone and starts using a new currency.
Tui spokesman Robin Zimmermann confirmed the letter had been sent to hoteliers, saying, ‘As a responsible company, we should protect ourselves for a potential exit of Greece from the Eurozone.’ In the letter, Tui said it was entitled to pay in whatever currency was in use. Bild quoted the letter as saying, ‘If the euro should no longer be the currency…Tui is entitled to pay the sum of money in the new currency. The exchange rate shall be made at the exchange rate set by the government.’ (BBC, 7th November 2011)
This move by Tui is a sign that the company has been assessing its external environment and is prepared to respond to any potentially negative impacts from economic sources.
Jessops, the UK premier photographic retailer, has also had to be aware of and respond to changes in its business environment. New technology in particular, such as the rapid increase in use of digital cameras, and different consumer practices, such as downloading from the internet, has meant the company has moved its prime focus from traditional printing of photographs to creating new services in photo imaging. This includes producing posters, photo books or gifts from customers’ own or Facebook images.
Jessops has also opened up a multi-channel strategy, providing new ways to ensure customers can access its services in ways other than its high street shops. These include iPhone or iPad apps and online ordering services.