Enterprise Risk Management Assignment - EasyJet Airline
Added on 2020-10-22
20 Pages5126 Words241 Views
FinanceMarketing
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ENTERPRISE RISKMANAGEMENT
TABLE OF CONTENTSTABLE OF CONTENTS................................................................................................................21. INTRODUCTION.......................................................................................................................11.1 Organisation introduction......................................................................................................11.2 Aim of organisation...............................................................................................................12. RISK MANAGEMENT PRACTICES........................................................................................33.0 RISK REGISTER......................................................................................................................54.0 CONCLUSION........................................................................................................................14REFERENCES..............................................................................................................................16
1. INTRODUCTIONEnterprises risk management is the business strategy that aids in identifying issues andassessing hazards (Olson and Wu, 2015). It is systematic process that helps entities in planning,organising, controlling over business activities in order to minimise risk of firms. Present study isbased on Easyjet, it is low cost airline that offers law fares travel facilities to travellers andprovide them friendly services. Present study will evaluate threats and opportunities of Easyjet.Furthermore, it will describe mitigation actions that may help business in dealing with suchuncertainties.1.1 Organisation introduction EasyJet Airline Company Limited is one of the largest British low-cost carrier that hasbeen established in London. Organisation is been engaged in hiring more than 11,000 employeesand also operates its business in various countries and regions. They have over 200 air crafts.This service industry has their own distribution system and company is fully controlled by oneowner. EasyJet is also been marked in the London stock exchange and they have more than 65base in Europe itself (Lam, 2014). They are engaged in providing their services on more than830 routes and over 30 countries and region. In 2014 it was analysed that the airline service hascarried more than 65 million passengers. Company is also engaged in making strategies for their business. The business model ofthe airline industry includes that they schedule their air-craft on timely basis. Industry is alsoinvolved in charging for extra like food, baggage holding, priority boarding and many more. Thishas helped EasyJet in increasing their revenue and profitability. In the year 2017 the annualrevenue of airline firm has been marked at £5,047 million. Organisation is also involved in usingunique marketing strategies like they urge their passengers to cut out the travel agents. Marketresearch presents that Easyjet is engaged in serving more than 137 destinations (Grace and et.al.,2015). They are the largest operators of Airbus A319 worldwide. Company is one of the mosttrusted and used air-craft organisation around the globe. They also have one sister concernknown as easyJet Europe. 1.2 Aim of organisation EasyJet is the most biggest airline industry that has been established in London, UnitedKingdom(Franklin Amartey and Kamal, 2018). Company is also engaged in laying keen1
emphasis on increasing its growth. As EasyJet airline company limited is most popular andpowerful trademark, the organisations main objective or goal is to provide unique and differentservices to passengers on timely basis. Industry also have a mission to achieve customersatisfaction that can enhance their decision making process (Gatzert and Martin, 2015). Therevision is to increase their revenue and profit in advancing years. The mission statement ofEasyJet consists of the following:To enhance decision making process.To provide services on timely basis.To create services that brings value to the passengers.To increase operational efficiency of business. In order to achieve these missions' statement airline industry has been engaged in makingdifferent market strategies and establishing effective communication with their clients. Toincrease efficiency firm is involved in promoting their services through various online channels.Company in order to achieve these missions has also made vision statement (Falkner and Hiebl,2015). It can include the following:People: EasyJet is engaged in hiring qualified and educated employees to enhanceefficiency of business. They provide safe working condition to human resource of organisation. Portfolio: Airline industry is involved in giving quality and timely services to theirpassengers (Franklin Amartey and Kamal, 2018).Partners: They have build a relationship of trust with their investors, shareholders andpassengers.Planet: EasyJet airline limited company is working on developing of environmentalsustainability for the region (Olson and Wu, 2017). Profit: Company is going to maximise profit by effectively utilising resources. Productivity: Increasing productivity by providing employees with proper training andlearning related to job2
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