BS1106 Business Environment Essay Example | Topics and Well Written Essays - 1000 words

BS1106 Business Environment - Essay Example some of the recurring costs that an airlines industry requires to survive. The airlines industry is a complex one. It is a high risk industry as is known after the incidents of 9/11, yet it is a highly lucrative industry with potential of high profits. Huge investments, high risks, squeezing profit margins, growing competition are some of the major barriers to entry in this industry. The global economic downturn has also severely affected the expansion of the airlines industry worldwide. As a result of decreasing profit margins and to consolidate their position, a major trend within the global airlines industry has been for companies to seek strategic alliances with other airlines and benefit from synergies in operations. The success of low cost airlines and the increasing airline alliances has in general resulted in contributing towards improvement in the airline industry (Datamonitor, 2005). With the opening of economies and market driven forces taking over the business prospects, the customer has become the real king in the airline industry. Now companies do everything possible to invite the customer towards them by offering them good bargains, club memberships, loyalty programmes, sumptuous meal and goodies on board. The customer relationship management (CRM) has to play a key role in managing and retaining the customer as the customer has become very demanding, and resorts to bargain prices before purchasing the ticket. The top 10 leading names which have successfully made use of this trend are shown in the table below; With more low cost airlines dotting the airspace, the industry is further reaching towards saturation. Brand name and frequent flier point programmes also play a role in the Airline industry1. An airline with a strong brand name and incentives can usually be enough to lure a customer (even if their prices are higher). The figure below lists some of main customer satisfaction determinants (Ipsos

Personal reflection Coursework Example | Topics and Well Written Essays - 750 words

Personal reflection - Coursework Example Through the lesson, I also learnt how to quantify risk and profitability. I finished the lecture by learning how to mitigate risks, especially the risks associated with projects. In my week five task, I led my group through the group project we are undertaking. My key role at this stage was to allocate task. I assigned Nicole, Emma and Cindy each to design five posters. I allocated Cindy a time schedule to do and write notes about the meeting we had. I assigned to Emma the task of taking photos about the park. I gave Nicole the task of correcting mistakes in the posters and Amber the collection of documents and writing of the final report. Attending the lecture on risks and projects was a new and exciting experience. Since I have never attended a lecture on the topic, I felt a bit nervous and anxious, as I did not have defined expectations and was not sure if I would understand the lecture and grasp the concepts. The lecturer made me feel a bit comfortable at the beginning since he had looked strict and introduced the topic in a manner that made it look very challenging. I was more than curious to know how projects and risk assessment are linked. The leadership role that I took towards our group project in week five made me nervous at the beginning of the week. I did not know how I would relate with my colleagues whom I were very fond of as their leader. The thought of how I would deal with them in incidences of non-compliance made me feel uneasy with the role. As time passed, I became more comfortable with the role because of my groups corporation. The experience was very influential and I was delighted that things turned out successfully. I had a wonderful experience from the lecture on risks and projects. The lecture enabled me to have an understanding of risks and projects. I managed to clearly differentiate between a risk and a hazard. I was in a position to assess the