I Fly Airlines Proposal
Essay Preview: I Fly Airlines Proposal
Report this essay
Executive summaryThe competitive business simulation of I Fly Airlines is presenting in this particular report. For the fruitful execution of the simulation, diverse teams with four to five individuals was framed and our team was assigned to work for I Fly Airlines. The primary aim of this specific report is to investigate and critically assesses the philosophies, models and theories related with various disciplines like human resource management, strategic management, operations management, marketing, performance management and finance management and its application in a genuine organisational setup. This report will analyse the efficiency of I Fly Airline performance in the during the simulation period which means the 12 weeks period. The decisions made amid the simulation period by our group and its effects on the I Fly Airlines performance is critically assessing in this report. The main suggestions of this report are as per the following:• It is important to analyse the internal and external environemental factors of the firm through situational analysis tools • It is recommend for using Porter Generic Strategy and Ansoff matrix before making any strategic decisions • It is suggesting to utilise special decisions in order to ensure the firm achieve its strategic objectives • it is important to compare the financial performance of I Fly with the major competitors in order to determine the real performanceIntroduction According to Aviation Global Deal Group (2011), the Aircraft Industry is defined as a transportation arrangement and it is directly comes under the aeronautics industry. The key focus of airline (passenger and carrier) business is moving people or stock from one point or location to a specific destination. The organizations working in this aeronautics industry uses flights or carriers to transport people and goods from one location to another. Lee and Mo (2011) stated that the companies working in this specific sector is working in collaboration with other airline business organisations for codeshare agreements. Aircraft industry is one of the fundamental certified as a global sector as they work their administrations to all parts of the world. This industry is not like other industry since it is globalised and gain energy from globalization of markets. According to…. in airlines sector in order to remain competitive it is essential the managements need to be creative and innovative in their decisions and offerings. Creativity and innovation in services and offerings is important to overcome the distinctive money related issues and meet the growing social demand. According to Shew (2009), innovation is an ability to achieve forceful edge over real competitors in the market.Analysis The Rocket airline is a renowned airline company which operates with 3 Beechcraft 1900 air fleets. Later the company was able to add two British Aero 31 air fleets on lease. The Stock Price for Rocket Airlines at the start of the simulation is $20.00 and Gross Revenue is $1,490,761. Strategic aim and objectives The vision for I Fly airlines is to make their firm the market leader in terms of passenger and cargo by offering reliable, dependable, affordable and quality services to their passengers.The main aim of this explicit report is direct an investigation of the execution of a carrier organization based on simulation. To accomplish the aim of this simulation programme the researcher identified certain objectives and they are presented in the below section.
First, objective is to integrate the theory, models and approaches into practice for the simulationSecond objective is to set SMART goals for the firm to ensure the I Fly Airline to remain competitive in the market Thirdly, to formulate action plan for the successful accomplishment of the aims and goals Fourthly, it is important to formulate operational, marketing, finance and HR strategies for the I Fly Fifthly, to make valuable decisions to overcome problem situations during simulation gameFinally, to analyse critically how the decisions, theories and models influence the performance of I Fly AirlinesIt is evident that the financial performance of the company is improved by enhancing the quality of services and a restructuring of the fare structure of I Fly. Therefore, the strategic decisions must be in and around these two areas. The passengers must be the centre of every decision because their satisfaction in terms of comfort, fare and service quality is the key variables that help the firm to achieve its strategic objectives. In addition, the operational capacity of the airline also needs to be improved in order to achieve the strategic objectives like reliable, comfortable and quality service and cost reduction that helps to make the fares reasonable.Operational or performance objectives of an airline company are based on five key components and they are cost, Quality, speed, dependability and flexibility (Hill and Hill, 2012). In the case of I Fly airlines, the most important components of performance or operational objectives are quality, cost and service. Quality means the service quality including keeping the time schedules of every flight they operating from 2 regions, quality of service inside the flight including food, customer service and other amenities and finally quality of fleets they are using for service. To avoid higher level or hike of fare structure is another major objective. It is important for the firm to ensure that the fares offering are affordable for the passengers and provide value for their money. In order to avoid discomfiture to their passengers the I Fly Airline management has worked eagerly by operating the services on scheduled timeframe with no delay. Likewise, it has been our performance goal with respect to being flexible towards accommodating state of the art technologies. In addition, to adapt to changes that occur within the airline sector for ensuring performance enhancement for I Fly Airline. Lastly, it is crucial for our firm to maintain and ensure the organizations level of reliability with respect to making sure of customer satisfaction. Naturally, customer satisfaction would lead to customer loyalty to the organization within airline sector such loyalty would be of great benefit (Schiffman et al. 2010).