Business Development and Planning of Virgin Australia
Verified
Added on 2023/04/22
|14
|725
|325
Presentation
AI Summary
This presentation discusses the business development and planning of Virgin Australia, including their unique business model, customer segmentation, innovation strategies, legal and financial aspects, marketing mix, and more.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Business Development and Planning of Virgin Australia Name of the Student Name of the University
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
The Entrepreneurial Ecosystem •Virgin Atlantic is a British airline carrier that was mainly established in 1984 •Virgin Atlantic has been the prime airline carrier in the sector. They have a unique form of business model that has evolved over the years (vom Brockeet al.2014) •Virgin Atlantic have been able to use the canvas within their business planning process •They have mainly focused on the customer needs and have thus introduced several services
Strategic Enterprise Management •Virgin Australia segments their customer into certain categories. These are – technological, demographic, social-cultural and political or legal •They primarily depend on the feedback of the customers and thus revise changes •They primarily focus on bringing innovation within their services •They mainly target the recent market segment based on making any changes
Strategic Enterprise Management (Fig 1: Trends in Commercial Aviation Business) (Source:Whyte and Lohmann 2016)
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
New Venture Creation •The business boards at Virgin Atlantic primarily consists of CEO, Executive Vice President and the different Operations department •The organisational structure consists of a hierarchical structure that would consist of different managerial levels. •They also comprise of a legal team that handles the legal matters concerning the organisation
Entrepreneurial Finance and Managing Risk •Virgin Atlantic also support the rights based on Intellectual Property (IP) •They mainly support – Registered and Unregistered Rights that protect the different legal aspects of the organisation •Insurance is also supported within the business aspects that also incorporates the aviation terminology •The legal requirements are based on conditions of contract
Impact of Intellectual Property •Virgin Atlantic support innovative and creative spirit within the global market •Digital marketing is also supported within the internal carrier business scenario •They primarily follow social media in order to advertise their services and thus attract the customers •The audiences are primarily provided with tangible and meaningful rewards
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Pricing Structures •There are certain terms and conditions that are set within Virgin Atlantic •Contracts help in streamlining of business processes •The various contracts help in binding the security aspects of the organisation (Lawton 2017) •These contracts help in ensuring the integrity of the workplace within Virgin Atlantic
Networking and Customer Relations •Virgin Atlantic support the 4P’s of marketing mix. These include – Product, Place, Price and Promotion •The various pricing structures are meant to gain a competitive advantage in the global market •The company understands the current market trends and thus improvises strategies (Derudder and Witlox 2016) •Funding is often supported by several entrepreneurs that benefits the organisation
Networking and Customer Relations (Fig 2: Shift in Value Creation in the Aviation Business) (Source:Derudder and Witlox 2016)
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Calculation of Tax and VAT •Theypromotegoodnesswithintheworkculturebymakingpartnershipsand negotiations •Four form of tax principles are included – Compliance, Commerciality, Transparency and Risk Management •Impact of business insurance helps in supporting the business and financial services
Cashflow, Bookkeeping and PSP •Cash flow within the business process is based on operations, investment and financing activities •Bookkeeping operations decides the strength of business operations •The Personal Survival Planning (PSP) sustain the extreme effects within the business scenario
References Derudder, B. and Witlox, F., 2016. International business travel in the global economy. Routledge. Lawton, T.C., 2017. Cleared for take-off: structure and strategy in the low fare airline business. Routledge. vom Brocke, J., Debortoli, S., Müller, O. and Reuter, N., 2014. How in-memory technology can create business value: insights from the Hilti case.Communications of the Association for Information Systems,34(1), pp.151-167. Whyte, R. and Lohmann, G., 2016. Airline business models. Air Transport Management: An International Perspective; Budd, L., Ison, S., Eds, pp.107-121.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.