International Business And Management Assignment Sample

Global Market Dynamics: Comprehensive Guide to International Business and Management Assignment

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Introduction Of InternationalBusiness And Management Strategy

Strategic analysis of the recent state of the company

A strategic analysis of the modern state of a business in an international context provides a complete understanding of the company's weaknesses, strengths, opportunities, and threats. It allows the corporation to develop a strategic plan that align with its goals and objectives, leverages its competitive advantages, and address its weaknesses to accomplish sustainable growth in the worldwidemarket. To carry out a tactical analysis of the present state of a business in an international circumstance, several key factors must be deliberate (Tien, 2019). These include the firm's overall performance, its spirited position, its target markets, and its internal resources and capabilities. To evaluate the company's financial performance, including its revenue, profit margins, and market share. It is also very important to consider other factors such as consumer satisfaction and brand recognition. An environmental analysis of the business in the global market involves an assessment of the external factors that have an effect on its operations (Johnson, 2019). These factors include economic, social, political, technological, legal, and environmental influences.

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  • Political: these factors include change in political instability, regulations and policies, and government intervention can all have a main impact on the firm's operations in the global market. Brexit and the continuing pandemic are examples of political factors that have affected the airline industry.
  • Economic: factors such as inflation rates, exchange rates, and GDP growth can affect the demand for air travel and holiday packages (De Ramón Fernández, et. al. 2020). Economic downturns, such as the 2008 financial disaster and the ongoing COVID-19 pandemic, have had animportant impact on the travel industry.
  • Social factors:Consumer behavior, demographic changes, and cultural norms can all influence company's operations in the international market. For instance, the increasing demand for eco-friendly and sustainable travel options can have an effect on the airline's reputation and market position.
  • Technological: Technological advance can generate new opportunities for the company, such as the use of digital platforms to improve customer experience and operational competence (Atlasi, et. al. 2021). Though, technology can also disturb traditional business models, as seen with the increase of online travel agencies and low-cost carriers.
  • Legal: Regulatory fulfillment and legal requirements, such as safety system and data protection laws, can affect company's operations in the international market. Brexit has also created legal reservations for UK-based airlines working in the European Union.
  • Environmental: The impact of air travel on the environment is becoming amore and moresignificant consideration for customers and regulators. Company's environmental policies, such as carbon offset and sustainable practices, can manipulate customer preferences and regulatory compliance.

Company has several organizational capabilities that permit it to operate productively in the international market. These capabilities include:

  1. Brand recognition:organization has a strong brand individuality that is familiar in the UK and other international markets. Its brand is connected with quality service, competitive pricing, and a focus on consumer satisfaction.
  2. Customer service:the company places a strong importance on customer service, which includes a 24*7 customer helpline and aenthusiastic customer service team. This promiseto customer service has helped firm to build a loyal customer base and a positive reputation in the market.
  3. Operational efficiency:firm has a strong focus on operational efficiency, which allows it to offer competitive prices to its consumers (Fischer, al. 2020). This includes anwell-organized supply chain and aircraft operation, as well as a efficient booking procedure for customers.
  4. Experienced management team:they have an experienced management team with a deep indulgent of the aviation industry. This expertise allows the corporation to make strategic decisions and respond successfully to market changes.
  5. Technology adoption:the company has embraced technology in its operations, including online booking systems and mobile apps (Tang, al. 2022). This allows consumers to easily book flights and supervise their travel itinerary.
  6. Industry partnerships:they have developed strong partnerships with hotels, tourism boards, and other industry stakeholders in its target markets. These partnerships allow the company to presentaninclusive travel experience to its customers.

SWOT analysis of the case company in the context of its international strategic plan includes an evaluation of the company's strengths, weaknesses, opportunities, and threats:

Strengths: Weaknesses:
  • Strong brand recognition in the UK and Europe
  • Customer service focused
  • Operational efficiency and cost-effective pricing strategy
  • Experienced management team
  • Technological innovation
  • Diversified product portfolio including holidays and package tours
  • Limited market presence outside the UK and Europe
  • Dependence on leisure travel and seasonal demand
  • Limited number of destinations (Mostaghimi and Rasoulinezhad, 2022).
  • Limited fleet size compared to larger competitors
  • Lack of intercontinental flights
Opportunities: Threats:
  • Expansion into new markets such as Asia and the Americas
  • Increasing demand for eco-friendly and sustainable travel options
  • Growing demand for low-cost and budget travel (Abou-Moghli, 2019).
  • Expansion of the airline's fleet to increase its network
  • Strategic partnerships with other airlines and travel companies
  • Intense competition in the global airline industry
  • Fluctuating fuel prices and other operational costs
  • Economic downturns and political instability
  • Emerging new low-cost airlines and disruptive technology
  • Regulatory requirements and compliance costs

Mission and objectives

The mission of the company in the international market is to supply reliable, safe and affordable air travel to consumers while maintain a strong focus on consumer satisfaction and operational superiority. The company's purpose is to become a leading low-cost airline in the global market, while also increasing its product portfolio to offer a comprehensive travel experience to consumers.

To achieve this mission and objective, business has several specific goals:

  1. Expand its network of destinations:company aims to enlarge its destination portfolio to include new markets in Asia, the Americas, and other region around the globe. This will enable the corporation to increase its consumer base and revenue streams (Patria, et. al. 2019).
  2. Increase its fleet size: company plans to boost its fleet size to serve more destinations and meet growing demand. This will also facilitatethem to take advantage of economies of scale and reduce its operating costs.
  3. Enhance its digital capabilities: they recognize the significance of technology in the travel industry and plan to invest in its digital capabilities to advance the customer experience and increase operational efficiency (Omer, 2019).
  4. Develop strategic partnerships:company's plans to expand strategic partnerships with other travel companies, airlines, and tourism boards to increase its reach and offer customers a wider range of travel options.
  5. Enhance sustainability practices:company aims to adopt eco-friendly and sustainable practices in its operations to lessen its environmental impact and meet the growing demand for sustainable travel options.

By achieving these goals, the case company aims to become a leading low-cost airline in the global market, while also increasing its product portfolio to offer clientelecomprehensive travel knowledge (Paurova and Gregova, 2020). These objectives bring into line with the company's mission of providing safe, reliable, and affordable air travel while maintain a strong focus on customer satisfaction and operational excellence.

Strategy: generic type ofinternational strategy, directions, methods

Jet2's international approach involves a mix of generic international strategies, including standardization, localization, and transnational strategies, to accomplish its objectives in different international markets. The corporation uses different directions and methods to implement its international strategy, which include:

  1. Localization strategy: theyadopt a localization strategy by tailoring its products and services to meet the exclusive needs and preferences of consumers in diverse markets. This involves adapt its marketing strategies, customer service, and products to local cultures and customs, such as offering local cuisine on flights and promoting localattraction in marketing campaigns.
  2. Standardization strategy: organization also uses a standardization strategy to keep consistency in its operations and products across diverse international markets (Christodoulou and Cullinane, 2019). This involves offering the same products and services to customers regardless of their location, such as consistent safety standards and onboard services.
  3. Transnational Strategy: company's also uses a transnational strategy that combine both localization and standardization strategies. The corporation leverages its core competencies and resources to develop a unique value proposition that meets the needs of customers in different international markets. This involves complementary global integration and local receptiveness to optimize its operations and offer a seamless travel skill to customers.
  4. Strategic Partnerships: company forms strategic partnerships with other airlines, travel companies, and sightseeing boards to develop its reach and offer customers a wider range of travel options (Achinas, al. 2019). This includes joint marketing campaigns, code-sharing agreement, and partnerships with local hotels and attractions to offer customers inclusive travel packages.
  5. Investment in Technology: company invests in digital technology to advance the customer experience and increase operational competence. This includes the make use of mobile apps, online booking systems, and in-flight entertainment to enhance the customer experience and streamline its operations.

Company's international strategy involves a mix of standardization, localization, and transnational strategies, and uses strategic partnerships and technology investments to achieve its objectives in different international markets.

Plan for international strategic implementation: organizing and resourcing, monitoring change,

Organizing and resourcing are decisive components of implementing an international strategic plan for the airline business. To ensure effective implementation, the company can follow the following plan:

  1. Establish an international strategic implementation team: the company should establish a dedicated team accountable for implementing the international strategic plan. This team should contain experienced and well-informed individuals who appreciate the international market and the company's goals.
  2. Assign clear roles and responsibilities:the company should assign clear roles and responsibilities to the completion team members to make sure everyone knows their responsibilities and what is predictable of them. This will help to avoid confusion and ensure accountability.
  3. Allocate resources:the company should assign adequate resources to the implementation team, including personnel, funding, and technology, to hold up the effective execution of the plan (Rehman, al. 2019). The company should also ensure that the implementation team has access to the necessary resources to carry out their duties.
  4. Establish communication channels:the business should set up effective communication channels to make sure that information flows freely among the implementation team and other departments within the organization. This will support to ensure that everyone is aware of the expansion of the implementation plan and can provide feedback as needed.
  5. Monitor progress and make adjustments: organization should incessantly monitor the progress of the achievement plan and make adjustment as desirable (Bilan, al. 2020). This will help the corporation to identify and address any issues or obstacles that may happen and adjust its strategy for that reason.
  6. Conduct regular performance reviews:the business should conduct regular performance reviews to evaluate the efficiency of the implementation plan and make change if essential This will help the corporation to stay on track with its planned objectives and make sure that it is making progress toward its goals.

In adding up to the above steps, the business should also consider the following when monitoring change on its airline services. They should establish KPIs to track progress towards achieving its strategic objectives. KPIs should be measurable and align with the company's goals. The company should use data analytics to monitor changes in the international market and customer behavior. This will help the corporation to identify emerging trends and adjust its strategy accordingly. The company should establish feedback mechanisms to collect feedback from customers, workers, and other stakeholders (Hillmann and Guenther, 2021). This will help the corporation to identify areas for development and make adjustment to its strategy as required.

Effective implementation of an international strategic plan for Jet2 requires a clear plan for organizing and resourcing, continuous monitoring of progress and adjustment of the plan as needed. The company should also establish effective communication channels, establish KPIs, use data analytics, and collect feedback to ensure that it is making progress towards its strategic objectives.

Due concern of the international market, CSR and financial implications in a international context

Corporate Social Responsibility (CSR) is asignificant consideration for businesses operating in the international market. Some of the CSR implications that the company needs to consider when expanding its operations internationally include:

  1. Environmental sustainability:organization needs to ensure that its operations do not harm the environment. The business can adopt sustainable practices such as reducing its carbon footprint, reducing waste, and promoting the use of renewable energy. They should also comply with environmental regulations in the countries where it operates.
  2. Ethical business practices:Jet2 should make sure that it operates morally and with integrity. This includes treating workers fairly, respecting human rights, and avoidscorruption. They should also ensure that its suppliers and partners stick to similar ethical standards (Gupta, al. 2020.
  3. Community involvement:the company should be involved in the communities where it operates. This can include sustaining local charities and providing employment opportunities, community initiatives, and investing in local infrastructure.
  4. Consumer protection:they should ensure that it provides safe and high-quality products and services to its customers. This includes adhere to product safety standards and providing accurate information about its products and services.
  5. Transparency and accountability:the company should ensure that it is transparent and accountable in its operations. This includes providing accurate and timely information about its activities, finances, and performance (Sardana, al. 2020). They should also be willing to engage with stakeholders and address any concerns or feedback.

Expanding into international markets can have momentous financial implications for Jet2. This incurs initial costs when entering new international markets. These costs include licensing fees, regulatory and marketing expenses, and investments in infrastructure and equipment. The company will also face operating costs related to maintaining its operations in international markets. These costs may include worker salaries, taxes, rent, and other transparency costs. Jet2 needs to carefully evaluate the profitability of each international market to ensure that operating costs do not outweigh potential revenue. When operating in multiple international markets, the case company will be exposed to currency fluctuations. These fluctuations can have a significant impact on the company's revenues and profits. Jet2 can mitigate this risk by implementing a hedging strategy to manage its exposure to currency fluctuations.Each international market has its own regulatory environment, which can affect Jet2's operating costs. Jet2 needs to make sure that it is acquiescent with all applicable regulations in each market, which may involve additional costs related to compliance (Duque-Grisales and Aguilera-Caracuel, 2021).Entering new international markets can also provide revenue opportunities for Jet2. Theyneed to carefully evaluate the potential demand for its products and services in each market to decide if the potential revenue justifies the costs associated with incoming the market.

Conclusion

The report is concluded with company's expansion into international markets presents both challenges and opportunities for the company. To expand a successful international strategic plan, the company needs to conduct a thorough analysis of the external environment, including competition, market conditions, and regulatory requirements, as well as an internal analysis of the company's capabilities and resources. Based on this analysis, they can identify potential new products or markets that are aligned with its core competencies and have the prospective to drive enlargement over the next five years.The report has discussed on implementing the international strategic plan, company needs to ensure that it has the necessary resources and organizational structure in place to effectively manage and monitor change. This includes establishing clear goals and objectives, allocating resources appropriately, and regularly monitoring progress to ensure that the plan is on track. Company also needs to consider the financial and CSR implications of its international expansion. The company needs to carefully evaluate the potential costs and revenue opportunities in each market and develop a strategy for managing currency fluctuations and regulatory compliance. The organization also needs to ensure that it operates ethically and sustainably in each international market to enhance its reputation and minimize potential risks. The company with careful planning and execution can successfully expand into international markets and achieve sustainable growth over the next five years. By considering the opportunities and challenges presented by the international market, they can develop a strategy that maximizes its potential for success while minimizing potential risks.

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