rs about the growth are in the following figures.
根据WTM，环境的急剧变化使旅游业提供了巨大的折扣。与2008年相比，2009年度假套餐的价格下降了20-30%。2009年，Marriot和喜达屋的特别促销折扣高达50%。有一个新的市场正在被搜索，并命名为“FUNMEMPLOYED”。Funemployed指的是那些失去工作、现金匮乏但时间充裕的人。向这些人提供巨大的折扣意味着让他们思考“要么现在，要么永远”。向失业人员提供高达15%的度假套餐促销优惠。等等。尽管如此，旅游业对未来几年增长的预期如下。
Thomas Cook’s problems in recession:托马斯库克在经济衰退中的问题
Thomas Cook had seen one serious problem when it’s one of the partners “Arcandor” filed bankruptcy in June 2009. According to Guardian UK June (27th, 2009) Arcondor which owned Thomas Cook’s 52% shares in Germany filed for bankruptcy. It was shock for the reputation of Thomas Cook but company announced it had no effects on the customers. It also faced problems in cash flow because they were getting money from the customers at the very last moments. In other words people were booking holidays at very last minute. This made difficult for the company to cope with day to day cash matters( The Finance Director, 2009).
2009年6月，托马斯·库克的合伙人之一“Arcandor”申请破产时，就遇到了一个严重的问题。据英国《卫报》6月27日报道，拥有托马斯库克在德国52%股份的Arcondor公司申请破产。这对托马斯库克的声誉来说是一个打击，但该公司宣布这对客户并没有影响。它还面临着现金流问题，因为他们在最后时刻从客户那里获得了资金。换句话说，人们是在最后一刻才预订假期的。这使得该公司难以处理日常现金事务。
Operational review:操作回顾
One of the world leading travel group with sales of £8.8 billion, 22.3 million customers around the world, 31000 employees, 93 aircrafts,3400 owned and franchised outlets, dealing with 86 hotels and resort properties and operating in 21 countries. In just UK it has 6.3m passengers, 807 outlets and 42 aircrafts(Thomas Cook annual report 2008).
世界领先的旅游集团之一，销售额达88亿英镑，在全球拥有2230万客户，拥有31000名员工，93架飞机，3400家自有和特许经营店，经营86家酒店和度假酒店，在21个国家开展业务。仅在英国，它就有630万乘客、807家分店和42架飞机。
Corporate strategy of Thomas Cook during recession:托马斯库克在经济衰退期间的企业战略
Thomas Cook has adopted a mixture of growth and portfolio strategy during the time of recession. According to Burnes (2004) in growth strategy, organisation focuses on the market and grows by diversification in number of industries. While he explained portfolio strategy as in this strategy company also grow but through acquisitions and mergers. in march 2008 Thomas Cook acquired 74.9% shares of Thomas Cook India ( Thomas Cook, annual report 2008 ). In June 2008, it acquires Jet tours France and Tri-west travel- holdings in Canada. In April 2008, the acquisition of UK’s leading luxury travel company Elegant resort ltd. came into action by Thomas Cook. February was the month of hotels4you.com’s acquisition. In June 2007 Thomas merged with My Travel plc and from then till now is getting bigger and growing every day.
托马斯库克在经济衰退时期采取了增长和投资组合相结合的策略。根据Burns在增长战略中的观点，该组织专注于市场，并通过行业数量的多样化来发展。在他解释投资组合战略的同时，公司也通过收购和合并来发展。2008年3月，托马斯库克收购了托马斯库克印度74.9%的股份。2008年6月，它收购了Jettours法国公司和Tri-westtravel在加拿大的控股公司。2008年4月，托马斯·库克收购英国领先的豪华旅游公司Elegant resort有限公司。二月是旅馆的月份。com的收购。2007年6月，托马斯与My Travel plc合并，从那时到现在，公司规模越来越大，每天都在增长。
CEO of Thomas Cook Mr. Nonova believes that demand must exceeds than supply if you want a successful tourism business(citywire 2009{b}). Thomas Cook believed in the historical fact that people do go for holidays even it is recession, they may spend less on meals, clothing, shopping etc. when they reach their destination but they cannot stop themselves from summer holidays. They even can go to domestic destinations but they do go. The following figure of Thomas Cook’s share price shows how was the progress during week financial times in the travel industry.
托马斯库克首席执行官诺诺娃先生认为，如果你想要一个成功的旅游业，需求必须超过供应。托马斯·库克相信一个历史事实，即即使在经济衰退的情况下，人们也会去度假，当他们到达目的地时，他们可能会减少在餐饮、服装、购物等方面的支出，但他们无法阻止自己休暑假。他们甚至可以去国内目的地，但他们确实去了。以下托马斯库克的股价图显示了本周金融时报期间旅游业的进展情况。
Strategy adopted by Thomas Cook:托马斯库克采用的战略
Cost leadership was being practiced during all the times of recessionary. According to Crums and Goldberg (1998)cost leadership has three main components in it, which are following:在经济衰退的所有时期，成本领导力都在实践。根据Crums和Goldberg（1998），成本领导力有三个主要组成部分，它们如下
Quality of the product should be according to the desires of the target market, it should not be over the expectations of the consumers and it must not be unde
