The Bankruptcy of Thomas Cook: An Evaluation from the Perspective of Consumer Behaviour, Digital Transformation and Strategic Management

Year 2025, Volume: 1 Issue: 1, 1 - 16, 05.08.2025

Fatih Şahin , Hakan Rodoplu

Abstract

This study examines the 2019 bankruptcy of Thomas Cook, a company with a 185-year history, in the light of multidimensional dynamics, including digital transformation, changing consumer behaviours, financial sustainability, corporate governance, and crisis management. In the study, the difficulties faced by traditional tourism businesses in adapting to the requirements of the age are analysed through a case study method. The study's method is based on Yin's (2018) explanatory single-case study design. In the analysis process based on secondary data sources, the factors contributing to the bankruptcy of Thomas Cook were classified into digitalisation, experience economy, financial early warning systems, organisational flexibility, and governance frameworks, using a descriptive analysis technique. Academic publications, industry reports, company documents, and credible media content formed the dataset. The findings reveal that Thomas Cook has developed organisational vulnerability due to its inadequate adaptation to digital transformation, its insistence on a traditional business model, its insensitivity to changing consumer preferences, poor crisis management, and ethical weaknesses. In addition, the fact that top management bonus systems contradict ethical and governance principles stands out as an essential factor that undermines stakeholder trust. The study has the potential to develop preventive strategies at the policy and practice level in the areas of digital adaptation, strategic planning, organisational resilience and ethical governance for tourism enterprises with similar structures.

Keywords

Thomas Cook, Digital Transformation, Strategic Management, Consumer Behaviour, Corporate Governance

Thomas Cook'un İflası: Tüketici Davranışı, Dijital Dönüşüm ve Stratejik Yönetim Perspektifinden Bir Değerlendirme

Abstract

Bu çalışma, 185 yıllık bir geçmişe sahip bir şirket olan Thomas Cook'un 2019 iflasını dijital dönüşüm, değişen tüketici davranışları, finansal sürdürülebilirlik, kurumsal yönetim ve kriz yönetimi dahil olmak üzere çok boyutlu dinamikler ışığında inceliyor. Çalışmada, geleneksel turizm işletmelerinin çağın gerekliliklerine uyum sağlamada karşılaştıkları zorluklar bir vaka çalışması yöntemiyle analiz edilmiştir. Çalışmanın yöntemi, Yin'in (2018) açıklayıcı tek vakalı çalışma tasarımına dayanmaktadır. İkincil veri kaynaklarına dayanan analiz sürecinde, Thomas Cook'un iflasına katkıda bulunan faktörler, tanımlayıcı bir analiz tekniği kullanılarak dijitalleşme, deneyim ekonomisi, finansal erken uyarı sistemleri, organizasyonel esneklik ve yönetişim çerçeveleri olarak sınıflandırılmıştır. Akademik yayınlar, endüstri raporları, şirket belgeleri ve güvenilir medya içeriği veri setini oluşturdu. Bulgular, Thomas Cook'un dijital dönüşüme yetersiz adaptasyonu, geleneksel bir iş modeli konusundaki ısrarı, değişen tüketici tercihlerine karşı duyarsızlığı, zayıf kriz yönetimi ve etik zayıflıkları nedeniyle örgütsel kırılganlık geliştirdiğini ortaya koyuyor. Ayrıca, üst yönetim bonus sistemlerinin etik ve yönetişim ilkeleriyle çelişmesi, paydaşların güvenini baltalayan önemli bir faktör olarak öne çıkıyor. Çalışma, benzer yapılara sahip turizm işletmeleri için dijital adaptasyon, stratejik planlama, örgütsel esneklik ve etik yönetişim alanlarında politika ve uygulama düzeyinde önleyici stratejiler geliştirme potansiyeline sahiptir.

Keywords

Thomas Cook, Dijital Dönüşüm, Stratejik Yönetim, Tüketici Davranışı, Kurumsal Yönetişim

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