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The company’s fleet consisted of 245 aircraft and 40,627 employees at the end of 2009 (Datamonitor). The company earned approximately £9 billion in revenue at the end of fiscal year 2009, 2.7% higher than the last year. 87% of this revenue came from passengers’ traffic while 7.5% and 5.4% came from cargo and other activities respectively (British Airways Annual Report, 2008/09, Data-monitor).
The PEST analysis of British Airways highlights major influences on the airline industry. According to Sanderson and Luffman (2001), this environment analysis indicates “current strategies of competitors, the potential of new competition to enter the market, the behavior of suppliers and buyers, and the availability of substitute products” (2001, p.20). The competitive marketing environment continuously changes, therefore a well thought-out, composed, detailed and consistent analysis is necessary for best evaluation.
The distressing incidents at the start of 21st century have turned out as the most difficult times for the airline industry. These incidents included the terrorist attacks in New York on September 11, 2001 and in London on July 7, 2005. Moreover, wars in Iraq and Afghanistan have caused an extraordinary political instability in different parts of the world. Due to such political instability and security situation, European Union and United States formulated new security regulations which came into effect in summer 2006. Although governments have taken essential safety and security measures and controlled the activities at the airports effectively along with pricing and planning policies but even then the new political strategy reduced the customer’s traveling confidence on airline. During last few years, substantial regulatory reforms have taken place which has given more opportunities to British Airways and such other airlines.
As far as, UK political
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This means that strategic management brings together the mission, objectives, and vision of a firm and develops policies and plans then allocates resolves to allocate resources to the set plans and policies in order to ensure their implementation (Wheelen & Hunger, 2011).
Strategic Management Name: Institution: Strategic Management The success of any organization regardless of its affiliation depends on how it conducts its strategic management. This allows an organization to analyze all the key initiatives that the top management of the company undertakes on behalf of its key stakeholders.
The purpose of strategic management is to create new and different opportunities for the organisations to sustain in its usually competitive environment. In brief, the notion of strategic management is fundamentally described as the procedure of devising along with executing effective strategies with the intention of supporting an organisation to attain its expected business targets (Nag et al., 2007).
Crisis management plan must be prepared keeping into consideration the overall safety of the strategic planning process. The aim of the strategic management in such needful situations is to enhance the organizational capacity in responding to the crisis and make strategic plans to effectively overcome from the identified obstacles (European Interagency Security Forum, “Crisis Management of Critical Incidents”).
Main products of the company are printers, personal computers, network management software, high end servers etc. Company is operating its business globally in several areas like printing, computing, digital imaging. Beside this, the company is also providing software and services.
Strategic management in the public sector is a complex process since there are multiple stakeholders with varying needs and limited resources available. There are various approaches to strategic management in the public sector.
In an article published in the Wall Street Journal on 7 May, 2009 and titled Arbitron, Looking To Make Strategic Investments, Takes Page From Cisco, Ty McMahan wrote about the recent decision that had recently been taken
r changing surroundings, managers need to constantly analyse and decide on the actions that would increase the efficiency of a firm’s operations and enable it to survive the competition. This is where strategic management play a vital role in the organisation’s survival. The