Individual Written Report on Classic Airlines
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Added on 2020-06-05
Individual Written Report on Classic Airlines
Added on 2020-06-05
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Individual Written Report on CLASSIC AirlinesEXECUTIVE SUMMARY The aim of the report is to find out the use of various theories used by airline industry andalso to find out how the theories will help in making decision for managing the organisationunderstood from the MBA toolkit.Performance management, marketing, finance, organizational culture, change and strategicmanagement are diversified theories provided by MBA toolkit will help in finding out howdecisions were made in fly high airlines depending upon theory and how this theories helpedfly high in successful decision making and how this theories are helping organisation fromconverting themselves from loss to profit making .There are two input available to know the current position of the company in the market areStrategy framework and structuring tools. Effective strategic planning is need to be expandedfor gaining the market leader and market shares.
To gain sustainable competitive advantage evaluated theories showed the feasibility andacceptability. For successful business, implementation of right strategy in right direction isrequired.For gaining sustainable competitive advantage in competitive market theories are essential.The theories applied by CLASSIC airlines resulted in profit.
Tables of ContentsSRNO INDEXPAGE NO.1Executive Summary......................12Introduction..................33Business Strategy by CLASSIC................44Corporate Strategy by CLASSIC..............75VRIN Framework.....................96Operational Level Strategy......................107Marketing Strategy...............................128Change management.............................149Performance Management......................1610 Conclusion........................................1811Recommendation.................................1812References.........................................19
INTRODUCTIONCLASSIC is a regional airline operated in USA in Great Lake Region which provide servicesto small towns and cities which are less attracted to large aircraft. It was established as“ Momand pop” business and it grew to 2700 passengers from 319 passengers. (Simulation,2018)The aim of the report is to analyse the framework and theories and how this theories helped abusiness (de Wit and Zuidberg, 2012) . During the initiation period performance ofCLASSIC was assessed and this theories helped in increasing the growth of the business.Strategy, business model, product portfolio and their implementation are key elements forsuccess of any business. (Stroh, 2014)Strategic choice of the company is built by strategic planning. For achieving the requiredtargets better policies are required. For making better policies company should usesystematic, logical and rational approach. (David Ilori, 2015)To select the cost leadership CLASSIC choose Porter’s generic strategy model that resultedinto remarkable performance by CLASSIC.To grow the market of CLASSIC in competitivemarket it was necessary for company to apply Ansoff's Matrix Model to apply corporatestrategy in this company applied market penetration and market development.CLASSIC found out the core competencies by applying Barney’s VRIN framework and italso helped in gaining competitive advantage to the company (Lopes, 2016).For introducingany new product or service in the market implementation of marketing strategy is mandatoryand for that company choose 4P’s of marketing mix. In report the emphasis is also given tokey performance and change management of CLASSIC (Slack, 2015).Business Strategy by CLASSIC Airline:Company have established long term goals for successful business and to accomplish itBusiness strategy is designed. Business Strategy play a vital role so right business strategy isrequired. Right business strategy includes setting up of desired goals, plans and execution.(Teece, 2010).For the long term success of business it is mandatory to accomplish the strategic choicesgiven by business strategy. (Charles Hill & Schilling, 2014)
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