Business, Management Refer Assignment Sample

References in Business and Management Assignment

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Intrduction Of Business, Management Refer Assignments

A report is made to analyze the national strategic plan which is a complete document that outlines the goals, vision, objectives, and strategies for a state to achieve exact national priorities. It is characteristically developed through a collaborative procedure involving civil society organizations, government officials, the private sector, and other stakeholders. The principle of an NSP is to provide a clear roadmap to achieve detailed outcomes, improving the overall well-being of a country's population. It also covers a choice of policy areas, including economic, social, environmental, and political issues (World Health Organization, 2021). Jet2.com is a British not expensive airline that operates scheduled and contract flights to over 66 destinations across Europe, the Mediterranean, and other well-liked holiday destinations. The airline is headquartered at Leeds Bradford Airport and is part of the Jet2 plc group, which also include a package holiday contributor, Jet2holidays.

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The company was founded in 2002 and begins operating flights from Leeds Bradford Airport in 2003. The airline has grown-up rapidly over the years and now operates an armada of over 100 aircraft, including Boeing 737-800s and Airbus A321s. The company is recognized for its friendly customer service and for providing a choice of affordable flights and holiday packages.In addition to its scheduled and contract flights, the airlines also operate a number of seasonal routes, chiefly during the summer months when order for holiday travel is highest (Di Marco, et. al. 2020). The airline has also prolonged into other areas, such as cargo services and airplane leasing.The report will discuss about strategic analysis of the current state of Jet 2. The report will highlight on strategic analysis tools and techniques which includes environmental analysis, organizational capabilities, and SWOT analysis to provide a comprehensive overview on internal and external analysis of company (George, et. al. 2019). Key features of the report are based on plan for strategic implementation; this will include organizing and resourcing, monitoring change in an organization.

Strategic analysis of the current situation of the business

A strategic analysis is the procedure of assessing an organization’s current situation, formating its goals and objectives to evaluate the internal and external factors that may impact its capability to achieve those goals (Mora, et. al. 2019). It involve a complete review of the organization's internal resources, capabilities and competitive situation in relation to the external environment, such as economic conditions, industry trends, social and cultural factors, political factors, technological developments and regulatory environment.

The objective of strategic analysis is to offer insights into an organization's strengths, opportunities, weaknesses, and threats, and to recognize strategic options and actions that will enable the association to achieve its objectives and gain a competitive advantage in its business (Huang and Rust, 2021). The results of strategic analysis are used to notify strategic planning, decision-making, and resource allocation, and to build up a roadmap for the organization's future enlargement and success.

PESTLE analysis is used to recognize and examine external factors that can impact a business or organization. This tool helps organization to appreciate the broader external environment in which they function and to recognize potential opportunities and threats.

Political Factors:

  • Political instability and conflicts in some of the countries that the case company operates may impact the airline's capability to operate flights to those destinations.
  • Changes in government regulations and policies, such as airport security regulations and environmental policies, may boost costs and impact operations.

Economic Factors:

  • Fluctuations in foreign exchange rates and fuel prices can impact the company’s financial performance and profitability (Borges, al. 2021).
  • Economic downturn can lead to a refuse in customer spending on travel, which can have an effect onthe company’s profitability and revenue.

Social Factors:

  • Changes in customer preferences and performance, such as an increasing demand for sustainable travel options, may impact the company’s reputation and income if it does not take actionsufficiently to these changes.
  • Demographic changes, such as an aging people or changing family structure, may also impact demand for convinced types of destinations and travel.

Technological Factors:

  • Technological advancements, such as improvement in aircraft fuel competence and advancement in digital technologies may give opportunities for the company to improve its operations and client experience (Dalirazar and Sabzi, 2023).
  • Rapid changes in technology can also pose a danger to the company if it does not keep up with the newest innovations and trends.

Environmental Factors:

  • Environmental concerns, such as air pollution and climate changes, are more and more becoming a key contemplation for travelers and governments.
  • The company might face pressure to decrease its carbon emissions and accept more sustainable practices, such as invest in more fuel-efficient aircraft or exploresubstitute fuels (Koshesh and Jafari, 2019).

Organizational capabilities refer to the skills, competencies, resources, and process that anbusiness possesses. These are a key constituent of a company's strategy and help to distinguish it from its competitors. Organizational capabilities can comprise things like proficiency in specific areas, skilled personnel, unique technologies, and effectual management practices (Abdoh, et. al. 2020). By leveraging their organizational capabilities, company can gain a competitive advantage in the marketplace.

  • Strong customer service:the company has built a reputation for its customer service, which is a key competitive advantage in the airline industry. The airline has won more than a few awards for its customer service, and has aenthusiastic customer service team that responds to purchaser inquiries and complaints promptly.
  • Effective operational management:the company has a strong operational management system, which ensures that the airline runs professionally and successfully (Rehman, al. 2019). This includes the organization of maintenance, aircraft schedules, and safety, as well as ground operations such as luggage handling and check-in.
  • Skilled workforce:the company’s employs a skilled workforce, including pilots, cabin crew, and ground staff, which istaught to provide high-quality service and continue safety standards. The corporation invests in training and expansion programs to make sure that its employees have the essential skills and knowledge to carry out their roles effectively.
  • Diversified revenue streams:the company has a diversified revenue stream, which include both planned and charter flights, as well as holiday packages through its subsidiary, Jet2holidays (Fuertes, al. 2020). This diversification reduces the company's dependence on a single revenue stream and helps to alleviate the impact of recurrent fluctuations in demand.
  • Strategic partnerships: the company has shaped strategic partnerships with other airlines, such as Ryanair, to get bigger its network and offer its customers with a wider variety of travel options. The corporation also has partnerships with resorts and hotels, which allow it to offer comprehensive holiday packages to its consumers.

SWOT is acontraction for strengths, weaknesses, opportunities, and threats. SWOT analysis is used to estimate the external and internal factors that can impact a business or organization. This tool helps organizations to recognize their strengths and weaknesses, as well as impending opportunities and threats. By identify these factors; organizations can build up strategies that leverage their opportunities and strengths while addressing their threats and weaknesses.

Strengths:

  • Strong brand status in the UK travel market, particularly for its consumer service and reasonably priced holiday packages.
  • Diverse range of destination, cookery to a wide range of consumers, including couples, families, and groups.
  • Focus on consumer satisfaction, with high ratings for on-time performance, luggage handling, and generally service.
  • Experienced management team, with a track record of boomingdevelopment and growth.

Weaknesses:

  • Heavy dependence on seasonal holiday traffic, which can lead to income volatility and ready challenges during climax periods (Christodoulou and Cullinane, 2019).
  • Limited attendance in long-haul markets, which may boundary the airline's growth potential.
  • Dependence on a single type of airplane (Boeing 737s), which may boost operational risk and limit suppleness in terms of route preparation.

Opportunities:

  • Rising demand for leisure travel, chiefly to destinations in Europe and the Mediterranean.
  • Rising popularity of all-inclusive holiday packages, which Jet2holidays is well-positioned to take advantage of on.
  • Potential to enlarge into new markets, mainly in the Middle East and Asia, as well as to develop its cargo and aircraft hire services.

Threats:

  • Intense rivalry in the low-cost airline and package holiday markets, principally from recognized players such as Ryanair, easyJet, and TUI (Gupta, al. 2020).
  • Rising cost pressures, particularly connected to fuel prices and airport charges.
  • Regulatory risks and reservations related to Brexit and other geopolitical factors.

Mission and objectives

Jet 2 is a UK-based airline that operates listed and charter flights to various destinations in Europe, as well as holiday packages through its additional, Jet2holidays. The following are Jet2's mission and objectives:

Mission

The company’s mission is to provide customers with reliable, safe, and affordable air travel and holiday packages, while delivering outstanding customer service and maintain a high level of operational competence (Lin and Kunnathur, 2019).

Objectives

  • Increase profitability: the company’s primary objective is to generate sustainable profits and achieve long-term financial constancy. The company aims to accomplish this by managing costs successfully, increasing revenue stream, and optimizing its operations.
  • Enhance customer satisfaction: the company places a high value on consumer satisfaction and aim to offer a superior travel experience to its consumers (Muninger, al. 2019). The company invests in training and growth programs for its staff, as well as in knowledge and communications improvements to improve the customer experience.
  • Expand market share: the company aims to enlarge its market share by increasing its presence in existing markets and explore opportunities in new markets. The business is continually looking for ways to expand its revenue streams and expand new products and services to meet the changing requirements of its customers.
  • Maintain safety and regulatory compliance:the company places a high main concern on safety and regulatory fulfillment, and aims to maintain the highest safety standards in all its operations (Barbosa, al. 2020). The company invests in training programs, safety management systems, and regular safety audits to make sure that its operations meet regulatory requirements and industry best practices.

The company’s mission and objectives reflect its promise to delivering high-quality services to its customers, while achieving sustainable growth and profitability in a highly competitive and dynamic industry.

Strategy: generic type of strategy, directions, methods

Based on openly available information, Jet2 appears to use a mixture of cost leadership and differentiation strategies.

On one hand, the company aims to keep its costs low and proffer affordable prices to customers. This is obvious in its business model, which focuses on low-cost flights and holiday packages. Jet2holidays is an integrated business model, offering flights, hotels, and transfers as a package, providing customers with a seamless booking experience (Oliveira, et. al. 2021). The company also places a strong emphasis on customer service, investing in staff training and development to ensure that its customers receive a high-quality travel experience.

Their strategy appears to be focused on offering affordable prices while providing a high level of customer service and unique offerings to differentiate it from competitors. By combining cost leadership and differentiation strategies, the company aims to provide customers with a value proposition that sets it apart from other airlines in the highly competitive airline industry.

Thesubsequent are some possible directions and methods that the company may use in its strategy:

  • Customer-focused approach: the company places a strong importance on customer satisfaction, and aims to offer a superior travel experience to its consumers (Fernandez, al. 2019). This may involve investing in technology and communications improvements to improve the customer experience, as well as contribution personalized travel packages and value-added services.
  • Operational efficiency: the company places a high main concern on operational efficiency and aims to optimize its use of resources to diminish costs and get better its profitability. This may involve adopting lean principles, invest in technology to rationalize operations, and implementing cost-saving measures such as well-organized aircraft scheduling and fuel management.
  • International expansion: the company has expanded its operation to several destinations in Europe, and may continue to explore opportunities to expand its international occurrence (Tran, 2022). This may involve developing strategic partnerships with other airlines, hotels, and travel companies, as well as investing in marketing and communications to support international operations.
  • Digital transformation:the company may invest in digital technology to change its operations and get better its customer experience. This may comprise developing a mobile app;implement a digital marketing strategy, and investing in artificial intelligence and data analytics to optimize its operations.
  • Continuous improvement: the company aims to continuously advance its operations and services to meet the changing requirements of its customers and continue competitive in the industry (He and Harris, 2020). This may involve investing in development and training programs for its staff, as well as conduct regular performance reviews and audits to recognize areas for improvement.

The company appears to use a combination of customer-focused, operational, and strategic initiatives to achieve its goals and gain a competitive benefit in the airline industry.

Plan for strategic implementation: organizing and resourcing, monitoring change

A plan for strategic implementation is a path that outlines the specific resources, actions, timelines, and performance indicators needed to productivelycarry out a strategic plan. It is the processes of turning a strategic plan into action, and it involve putting in place the necessary structures and processes to attain the desired outcomes. The plan should evidently outline the specific objectives and goals that require to be achieved in order to put into practice the strategic plan successfully. The plan should allocate clear responsibilities for each feature of the implementation process;ensure that everyone involved in the procedure understands their roles and what is expected of them (Iyer and Jarvis, 2019). The plan should recognize the resources needed to carry out the strategic plan and allocate these resources effectively. The plan should include a realistic timeline that outlines when each aspect of the completion process will be complete.

The following are some possible steps that the company could take to plan for strategic implementation:

  • Develop a detailed implementation plan: Once the company has recognized its strategic goals and objectives, it should develop a comprehensive implementation plan that outlines the definite actions that involve to be taken to achieve these goals. The implementation plan should comprise resource requirements, timelines, and performance indicators to verify progress.
  • Assign responsibilities: the business should assign clear responsibilities for the completion of the approach to specific individuals or teams within the business (Bahadori, al. 2021). This ensures accountability and helps to make sure that everyone is working towards the same objectives.
  • Allocate resources: the company should assign the necessary resources, including human, financial, and technological resources, to hold up the implementation of the strategy. This may engage reallocating resources from existing projects or looking for additional funding.
  • Establish a communication plan: the company should create a communication plan to ensure that all stakeholders, both internal and external, are knowledgeable about the implementation of the strategy. The communication plan should include standard updates on progress, as well as any changes to the completion plan.
  • Monitor and evaluate progress: the company should frequently monitor and evaluate progress towards the implementation of the strategy, using performance indicators and other metrics to evaluate success. This allows Airline Company to make adjustments as needed and make sure that the strategy is on track to accomplish its goals.
  • Review and update the strategy: the company should periodically review and update the strategy to ensure that it remains pertinent and effective in the face of changing market circumstances and other factors. This may involve conducting aofficial strategic review every few years to recognize new opportunities and challenges.

Effective planning for strategic implementation can helps the company to accomplish its objectives and gain a competitive advantage in the airline industry.

Due deliberation of the market, CSR and financial implications in a national context

Jet 2 operates within a national context and consequentlywants to consider the market, corporate social responsibility (CSR), and financial implications of its operations.

  • Market considerations: The Companyneeds to consider the market conditions in the country where it operates. This includes factors such as demand, competition, and pricing. To be competitive, the business must analyze the market for trends and opportunities and adjust its strategy as necessary.
  • Corporate social responsibility: the company should also consider its impact on the society, environment, and other stakeholders. This includes issues such as carbon emissions, waste management, noise pollution, and community engagement. The company can put into practice CSR initiatives such as plummeting carbon emissions, supporting local communities, and promoting sustainable tourism practices to advance its reputation and build a strong brand.
  • Financial implications: the company needs to consider the financial implications of its operations in the national context. This includes factors such as exchange rates, tax laws, inflation, and interest rates. They should monitor these factors to ensure that its financial performance remains stable and sustainable (Kumar, al. 2020). Jet2 can also put into practice financial management strategies such as hedging against currency fluctuations, optimizing tax planning, and investing in cost-effective areas to make the most of returns.

Jet2 needs to carefully consider the market, CSR, and financial implications of its operations in the national context to make sure sustainable enlargement and achievement. By taking into account these factors, the company can advance its competitiveness, reputation, and financial performance, while also contributing positively to culture and the environment.

Conclusion

The report is concluded with providing supporting material to substantiate the decisions made in a national strategic plan is vital for its accomplishment. By doing so, decision-makers can build a strong case for their planned strategies and express their effectiveness in achieving the desired outcomes.The supporting material can take a variety of forms, such as market analysis, financial projections, stakeholder consultation, and risk assessments. These materials can offer a complete understanding of the internal capabilities, external environment, and potential risks and opportunities, enabling decision-makers to make knowledgeable and evidence-based decisions.By communicating the rationale and evidence behind the proposed strategies, decision-makers can foster trust and confidence among stakeholders, and ensure their support for the plan.

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