Without any doubt, today’s business environment is highly unstructured, uncertain, unpredictable and unclear. Today, each firm or business organization focuses on survival by attracting a large of potential…
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It was incorporated in 1985 (served only 5,000 passengers with 51 employees) to cater travelers from Waterford to London Gatwick, and since then it has experienced phenomenal business growth and expansion (now serving over 60 million passengers and have employees over 6,000) because of its highly effective low-priced business strategy. The company today enjoys the status of ‘World’s favorite airline’, has 41 bases and more than 1,100 routes across 26 nations and now has a fleet of more than 220 aircrafts of one kind (preferably Boeing 737-800 to minimize operational costs). As part of its expansion policy, the company will induct more than 100 new Boeing aircrafts in its fleet to cater the pool of over 65 million customers (expected) in near future. (Internet: Ryanair.com)
Strategy of governments to maximize their revenue by bolstering the Tourism Industry and attracting more people from other countries would create demand of traveling services of Ryan Air. However, Ryan Air could be affected by various political factors such as the adoption of ‘protectionism of domestic industry’ approach by various nations across Europe and America. This is aimed to protect domestic jobs and employment opportunities by imposition of tariffs, taxes, anti-dumping duties etc. on operations of foreign airlines. This approach by different nations to secure their domestic airline(s) might increase the operational costs of Ryan Air, thereby resulting in reduction of demand. Changes in ‘licensing laws’ and increase in barriers to entry in new markets may also affect the airline’s growth strategy. Also, European Union has ‘abolished the duty-free access’ to airlines that would definitely increase the operational costs of Ryan air. Also, the European Business article (2007) pinpointed the fact that European Commission impeded the expansion of Ryan Air across
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The use of SWOT analysis is widespread and useful in this context. SWOT analysis helps in strategic planning process by analyzing the business’s success factors, its weaknesses and provides an insight to the opportunities and threats that are prevalent in the industry that it works in.
On the one hand, it has to be in an attractive industry; and on the other hand, it has to strive for maintaining a considerable position in the industry. According to Porter (as cited in Eldering, 2009, p. 6), competitive strategy is the search for a favorable competitive position in the industry; and a firm can improve it depending on a firm’s choice of strategy.
It is the manager’s responsibility to ensure that the strategic planning of the firm is consistent with the needs of the market and the future expectations of demand from the consumer. The difference between strategic planning and planning is accounting for competitor trends and future demand and planning a strategy that is consistent with it.
Strategic planning may also mean a directed approach which is deliberately created to satisfy the need of the audience. It encourages the sharing of ideas through participation and therefore results into right judgment. As a result efficient decision making can be achieved through thorough analysis and successful implementation of policies and promotion of learning between the stakeholders (Langford & 2001).
1.1. General Environment This environment entails the patterns in the wider society, which influences the banking industry, and especially Wells Fargo Bank. In this case, this environment has seven main segments, which include demographics, economic, political/legal, social cultural, technological, global, and physical environment patterns (Ireland el at, 2009).
r that the capital projects involve high levels of investments and these are mainly used for acquiring asses and also to assist the company increase the size of its operations. The investments that are made have a major affect on the company and the operations of the company.
determination of the long-term goals and objectives, determining the allocation of resources and course of action, Andrews finds that the patterns of decision taken by the company produces the plans and policies to achieve its goals. Hofer and Schendel define it as the pattern
acing failure in developing answers, facing failure in staff coordination, ineffective management, and failure in recognizing board’s limits (Liff, 1997).
Some of the success factors for Kaiser Permanente include overcoming challenges and difficulties, good partnership with
Rudd loses an estimated amount of $106,322.26 annually. The departments of the corporation are welding, painting and shipping.
In spite of Rudd Corporation being a small corporation, it has managed to employ an employee’s number of four
The three C’s i.e. collaboration, cooperation, and coordination play a very important role in the process of strategic planning. Strategic planning is based on consulting the right sources of information at the right time.
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