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RyanAir and Its Dominance in the European Low-Cost Airline Market - Literature review Example

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In the paper “RyanAir and Its Dominance in the European Low-Cost Airline Market” the author reviews discourse on RyanAir strategy and how it has positioned itself within the market. It is submitted that a review of the way in which RyanAir has managed to position itself…
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Download file to see previous pages To this end, the literature indicates a factor in Ryanair’s success being the ability to continue to innovate in line with Schumpeter’s “creative destruction model” through being the first to enter a high demand niche market with low supply (Page, 2009. Indeed, leading economist Joseph Schumpeter incorporated the term “creative destruction” as a central element of the contemporary capitalist business model; arguing that innovation was the key to business success (Schumpeter, 1942). Schumpeter further argues that internal innovation within a business operational framework produces lower costs, which in turn permits companies to sell products at lower prices, which is referred to as dynamic efficiency (Utterback, J. 1996). 
This is particularly evident in relation to the European airline industry particularly as a result of EU initiated deregulation, which intended to remove competition barrier thereby opening the market for exploitation by others. Moreover, the proliferation of different business models, work patterns have meant that the success of the working organization is inherently dependent on greater participation and employee empowerment, through the concept. Furthermore, Hamal and Prahalad argue that a central element of this is the shift in how companies compete with each other, with the underlying basis of competition moving towards “soft” factors such as reputation, service and market placement and positioning. This, in turn, reflects the evolution of the “knowledge-based economy” (Hamal and Prahalad, 1996). From the airline industry perspective, the fall in profits in the current economic downturn and global pressures has clearly created a need to manage costs and flexibility, which in turn creates the need to change the dynamic of the work organization in order for Ryanair to sustain its position (Fageda et al, 2010). ...Download file to see next pagesRead More
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