Performance Management - Assignment

Added on - Nov 2020

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Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................11. Classic Airline adopting Business Strategy............................................................................12. CLASSIC adopted corporate Strategy....................................................................................33. CLASSIC VRIN framework...................................................................................................44. Strategy of Operational level by CLASSIC............................................................................55. Marketing Strategy..................................................................................................................66. Change Management...............................................................................................................77. Performance Management......................................................................................................9CONCLUSION..............................................................................................................................11RECOMMENDATIONS...............................................................................................................12REFERENCES..............................................................................................................................13
EXECUTIVE SUMMARYThe objective of this assignment is about finding the requirements of various theories thathas been used by industry of airline. Thus, these theories will lead the industry in makingdecisions in terms of managing the company.All these theories are being provided by MBA toolkit that involves Performancemanagement, marketing, finance, change management, culture of the business and also thestrategic management. This aids them in analysing opinions that has been made in the airlinesthat is based on theory. These theories also leads Fly high in making various decisionssuccessfully which later helps them in converting loss into huge profits.In addition to this, strategy framework and structuring tools are the two inputs that arepresent in order to know the latest position of the cited company in the particular market.Therefore, to earn high market shares they have to expand effective strategic planning. In order ifthe cited company wants to achieve competitive advantage these theories plays essential role thatlater resulted to high term profit in CLASSIC Airlines.INTRODUCTIONClassic Airlines operates in Great Lake Region of USA where small towns and cities areprovided with services where there is lack of attraction towards large aircraft. This report mainlyhelps in analysing the models that has been used in business by leading them towards increasedgrowth of business (Alamdari and Fagan, 2017). Thus, the key elements of success of businesshas also been described in this report in terms of Strategy, product portfolio, business model andalso the implementation.Further, Strategic planning in Classic Airlines helps in building strategic choice. Inaddition to this, various theories and models has been used in this report to achieve long termsuccess by benefiting in competitive market. Moreover, marketing mix is also being used inorder to introduce new and trendy product or service in a particular market. And the importancehas also been given to change management and key performance of Classic.1. Classic Airline adopting Business Strategy.Business strategy plays very essential role in the industry. So the cited company has toadopt right business strategy (Bowman and Nurnberger, United Airlines Inc, 2018). Perfectbusiness strategy includes to set up the goals that has been desired, ideas and performance.1
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