Golden Moments Group Limited

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Golden Moments Group Limited

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Abstract

Golden Moments Group Limited is an international operating supplier of "unique experiences". The company was founded in 1998 in the United Kingdom by the twin brothers Steve and Paul Cheatle. After that it has grown by introducing the concept on new development markets. At this moment Golden Moments operates in nine countries. All within the European market. These markets are in hierarchy of turnover: United Kingdom, Holland, France, Italy, Germany, Spain, Belgium, Sweden and Austria. This makes the company, within the service-sector, a fast growing player in the international leisure branch with a respectable European coverage. The Golden Moments Group Limited has two directors and twelve fulltime employees responsible for the development and revenue of their market. These employees are native speakers from all nine countries in which Golden Moments is operating...

Introduction
Advantages of a culturally diverse workplace
1. Source of competitiveness in global business
Difficulties bound to cultural diversity
1. Avoid cultural gaps
2. How to manage these difficulties
Hofstede analysis
1. Trompenaars' cultural dimension
The MBI model
Conclusion

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[...] Effectiveness of their current innovative service delivery “Products” The products Golden Moments sell are experiences, so most of the products Golden Moments sell are not actual products. The products are not tangible. People are willing to pay to have a nice experience. They do not buy a product, but the right to have an experience. The company always uses the word ‘experience' when talking about her products. Gift experiences are consumer products, they are not frequently purchased and customers spend considerable time and effort gathering information about the experiences. [...]

[...] This means that Golden Moments should improve the way they currently maintain the relations with suppliers. Especially at this stage, because the image of the ‘gift experience company' in general has been damaged, by the fact that the biggest competitor in the United Kingdom-market went bust, owing a lot of her suppliers money. The current Redemption Types do not cover the Suppliers Currently, Golden Moments use five Redemption Types. For example, the Redemption Type: Instant Redemption, Golden Moments do not need additional information from the customer. [...]

[...] The ‘easiest' booking method within the current Redemption Types of Golden Moments is the Instant Redemption. This Redemption Type is most commonly used for tangible products. It takes a lot less time to process, than the other four current Redemption Types. That is because the customer, in fact, goes through both, the buying and redeeming process at once. So, the customer does not have to redeem his or her Voucher number anymore. A negative aspect that has to be taken into account is the fact that Golden Moments earns extra money on all experiences that are not set on the Redemption Type: Instant Redemption. [...]

[...] Those are the following questions: you satisfied with the cooperation with Golden Moments in the past If not, * If yes, “Would you like to comment on something?” you have any questions for Besides the possible useful, answers to the above questions, is also important that this phone call makes it possible for Golden Moments to answer questions that the supplier may have for the company. And in third place it is a good thing, just to let the supplier know that Golden Moments feel it is important to maintain a good relationship with the supplier. [...]

[...] Recommendations to the senior management for the ongoing improvement of their service delivery Work with Chains of Suppliers The amount of suppliers in the network of Golden Moments is indistinct and inconvenient. Most of them have only one location where their experience takes place. Therefore, Golden Moments-United Kingdom needs to start cooperating more and more with suppliers who have several locations. The perfect solution, when striving to work with these kinds of suppliers, is working with chains of suppliers. Currently Golden Moment is, at mutual delight, cooperating with the Marriott Hotel chain. [...]

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