Best Course of Action
Considering the rate of growth of candid Airlines the best course of action to foster sustainable business operations is to ensure that the company remains continuously innovative to reduce replications of their low cost strategies by the smaller and new companies entering into the industry. Also the company should strategies on more effective ways of promoting customer satisfaction of the new clients while at same time satisfying the increasing demand of the existing customers. The company should also conduct payments to its suppliers to establish high levels f trust which goes along way to countering delays and shortages of supplies necessary fro the company operations (Kono, 1994)
To counter the diminishing profits resulting from increasing fuel the company should maximize on the existing opportunities especially at it pertains to areas of growth and profitability and one of the bets course of action is to expand to different markets for instance the non competitive resort or overseas. This action will help in increasing the routes that are available for customers and considering the diminishing levels of competition courtesy of economic difficulties implies that it’s a profitable business venture (Lusch, & Lusch, 1987).
Place New Order
In addition to that another best course of action to be taken by the airlines is to aim at maintaining its cost advantages through strategic focus on growth opportunities in the industry and these include access to new markets and routes, forming of alliances as a well as diversification of its products. In order to maintain its discount airline integrity the company should monitor its costs keenly through fuel hedging practices and cutting of some expenses especially those incurred in customer satisfaction (Brian, 2000).
Goals and Objectives:
i. To maintain the current market Standing as the leader in the industry through tightening discounts or loopholes in fares as well ensure a continued increase in sale through intensified marketing strategies.
ii. To increase its productivity through formation of alliances which will allow penetration into new markets while at same time ensuring lower prices, larger capacities of flights and reduced barriers of competition.
iii. To ensure Worker Performance through continued employee training and satisfaction by introducing more ways of motivating employees for instance sponsoring of vacations for family members which increase employee loyalty reducing company’s employee turnover.
iv. To diversify the physical facilities and products to enable creation of more profits through increased sales.
v. To ensure that the stockholder responsibilities and commitment are in line with the company’s mission, vision and objectives to foster maximization of the long term shareholder wealth.
vi. To increase its profitability through minimal maintenance as well as fuel hedging which will go along way in allowing expenses to be kept at a low range.
vii. To continuously be Innovative in terms of customer care services, flight attendant training and programs as well as other customer friendly services like computer reservations, code sharing, frequent flyer programs which yields increased sales.
viii. To employ the best manager performance and development techniques to boost the product marketing especially at the remote resorts, software development, service operations to ensure that functional teams support the airline objectives as well as the corporate strategies.
ix. To engage in public (or Social) Responsibility activities and exploit them through websites, public participation, social responsibility policies, strategies and objectives to foster improved living standards and well being of the society at large.
x. To utilize all the available assets and resources to enable generation of the largest profit possible to enable attaining of the financial targets.
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VI. Strategic Plan
In the strategic plan the company should first consider venturing into new market niches with increasing demand hence avoiding competition and the consequent price wars. This strategic plan should include increase in the number of flights serving the resort routes and this is complemented by purchasing additional air crafts to accommodate the increasing demands of the customers wishing to visit these remote areas thus increasing the profit levels for the company. Moreover, it must also monitor market trends attractiveness while at same time looking inside the company to asses its strengths and weaknesses after which it must compete on strengths and avoid on areas of weaknesses. The airlines strategic plan should involve taking of measures that will help in alleviating consequence that result from the current empty seats thus reducing the losses incurred and thus plans to promote the company’s image as well as intensified marketing strategies should be enhance to foster high sales and greater customer base. These strategies can be developed by making an evaluation of the markets, demographics as well as the transportation trends in the industry and the information obtained will help the company in identifying profitable venture through identification and meeting of specific customer demands. Another way is tap into the ever increasing internet expansion which has become as key trend that enhance growth in the industry. Generally the company should evaluate its external forces and evaluation of core business through market segmentation, customer needs, completion, trend sin technology, supplier issues, and economic trends as well as the changes in the regulatory environment.
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