Identify your stakeholders . (Cameron & Mike 2009). This has managed to ensure that the presence of this airline in Europe is felt. One of the best things about easyJet is its refund policy. Run projects smoothly with stakeholder mapping. Secondly, the airline has a good market share in Europe. Explains how market forces and competitive advantage affect organizations, such as easy jet and air passenger duty tax. Click on the link below to read more.--> We have a clear focus on building strong relationships with customers to create more sustainable, long-term revenues leveraging quality, innovation and digital. 4. they would also want the company to do well profitably. 3. In this detailed, hands-on guide, we explore how stakeholder mapping can bring shared value to purpose-driven organizations. A stakeholder is someone who has an interest in the success of the business. their diversity team provides training and advice on discrimination law. There are several strategic options which are available for this airline. What is stakeholder mapping? 1. Thus, it is the responsibility of this company to work on establishing the right strategies which will work to ensure that EasyJet remains to be considered as an airline of choice in Europe when it comes to short routes (Eichenberger 1996; Ferrell, Hirt & Linda 2006). Opines that customers would want help in taking proper care of their new dog, especially as many of them have come from a previous bad home. SWOT & PESTLE.com (2023). Also, the sustainable approach of the company in its day-to-day activities, which include offsetting carbon emissions, participating in development of green aircrafts, promoting modern fuel-efficient fleet family, helps the company to build a reputable brand image as well as acquire and retain customers. However, given the nature of the market and the shortage of other options in Europe, competition is likely to intensify. Ballesteros, JSA 2007, Improving air safety through organizational learning:consequences of a technology-led model, illustrated edn, Ashgate Publishing, Ltd., New Jersey. Easy jets efficient ground operations enable it to achieve extra rotations on the high frequency routes, maximizing the utilization of aircraft. "EasyJet Company's Strategic Analysis and Marketing." Upgauging the fleet enables easyJet to improve competitiveness on costs. easyjet stakeholder mapping. Opines that local and national communities would want easyjet to help the local community by creating more jobs and gain the town more of a name for themselves and not make too much noise, air or any pollution. A public sector contractor, for example, might list central or local government as a primary, rather than a secondary stakeholder. This method is incorporated into a strategy map that will form the basis for the development of a balanced scorecard later on. Explains that unionized workers experience less of a sense of partnership and trust with their supervisors, according to gallup and healthways surveys. Thus, EasyJet needs to know how much it costs the competitors to serve, and how much capacity the competitor has for every route in the plan. Step 2) Assess how those stakeholders could be impacted or have an effect on the organization. For instance there may be similarities between business class travellers on a particular flight, but they will not all be travelling for the same reason. Home; About. Lastly, changing market tastes affect the market trends. Sort By: Satisfactory Essays. Best Essays. Thankfully, travel restrictions are now lifting across Europe, and airlines are restarting their operations from virtually zero. Numerator is obtained after meeting dues of all claimants of contractual dues. 1997. Easyjet rejects takeover bid from rival Wizz Air and is. Opines that trade unions would want the charity to treat their volunteers with the same amount of respect as theyd treat them as permanent employees. Bessant, J & Tidd, J 2011, Innovation and entrepreneurship, 2nd edn, Wiley, Hoboken. This shows that the despite the prevailing threats in Europe, this airline still has a large market share in the market. This is based on the mission statement which informs the mode of operation of the airline (Jones 2005 ). they want an affordable price for the flight and in-flight products, as well as a safe, smooth journey. EasyJet plc (styled as easyJet) is a British multinational low-cost airline group headquartered at London Luton Airport. Following Southwest Airlines model easyJet started trend "no frill" services which helped in keeping costs down.easyJet provided first come first service with equal service for all. in some countries, they are heavily one-sided, only taking into consideration rights of employees. This will ensure that the airline has got more bargaining power in order to accomplish its objectives. Stakeholder mapping is key when it comes to evaluating the influence and interest of project stakeholders. The company has shown growth in the existing market whereby it has managed to outdo airlines such as the British Airways in terms of local numbers. These aspects include the ability to change the volume of production, the ability to change the time taken to produce, the ability to change the mix of different products or services produced and lastly the ability to innovate and introduce new products and services. To analyze the stake holders in BA the power/interest matrix (Gardner et al, 1986) can be applied in terms of its power and matrix. they are very active in the political arena at the local, state, and federal levels. All stakeholders want the business to succeed and are dependent on each other to make this happen. In spite of the threats and risks associated with airline travel, this company should strive to accomplish its set objectives which will ensure that it thrives even amidst hostile environments (Ballesteros 2007). union members also benefit from collective power to go on strike. Or you could illustrate who the external stakeholders are that influence your business. These services are on a low cost basis. Managing Change at British Airways, An Introduction. . The decisions and actions which are taken within the operations of EasyJet have a direct impact on the fundamentals which form the basis of this company. Pembahasan stakeholders mapping perlu dipahami agar dapat memudahkan analis kebijakan dalam memperoleh gambaran aktor-aktor beserta kepentingannya yang perlu diakomodasi. Retrieved from https://ivypanda.com/essays/easyjet-companys-strategic-analysis-and-marketing/. EasyJet Plc SWOT & PESTLE Analysis - SWOT & PESTLE.com. So, here, I want to share with you my favorite 6 Stakeholder A. EasyJet has various opportunities which are emerging. The following stakeholder mapping example explains the primary aspect needs to be considered for stakeholder analysis. Explains that the employer association wants to help between the negotiations between keith's rescue dogs and the trade union. Investing in new generation fleet to replace older types drives economic value, lowering fuel and maintenance costs. employers or management may lose a large sum of profit because of the inoperative production. 2. IvyPanda. September 26, 2020. https://ivypanda.com/essays/easyjet-companys-strategic-analysis-and-marketing/. With that in mind, the commonalities that are shared between the clientele that make up the respective classes can easily withstand analysis. Within an enterprise, stakeholders may also include managers and staff. Opines that a large investment is needed to strengthen and expand the market share. Define the scope, goals, and desired outcomes of your project. Protect and build on easyJet's strong brand, Provide an easy and reliable customer experience. Explains that as the organisation increases its profit margin employees also feel that their compensation levels have to be increased. Top Quality. To make the connections and associations between stakeholders tangible by visualising them. Explains that regulation, although beneficial in some respects, has also been costly for ryanair. You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. Explains how easyjet's employees can affect the business in many ways. Draw the stakeholder map with two axes: The X axis represents the spectrum of dispositions toward your change project; from Against at one extreme - to For at the other. These options should include various aspects such as the introduction of other services and products as well as seeking partnerships which would buoy the airline in times of crisis. Explains that venter et. Stakeholder analysis is the systematic identification, evaluation, and prioritization of everyone who can influence, or has an interest in, a project, program or business. increased competition has forced ryanair to reduce fare prices. Value Stream Mapping 1 Value Stream Mapping Definition Value Stream Mapping (VSM): - Special type of flow chart that uses symbols known as "the language of Lean" to depict and improve the flow of inventory and information. The risk of entry by potential competitors In essence, the airline industry is placed in a position where there is a potential new entrant into the industry. Implementing any major strategic exercise requires insight and focus. INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. Senior Independent Non-Executive Director, Credit Suisse Asset Management (Schweiz) AG, Merrill Lynch International (Investment Management), KLM, IATA plan legal challenges over cap on Schiphol flights. Best Essays. The database is updated daily, so anyone can easily find a relevant essay example. employers can't terminate a worker for discriminatory reasons such as race, religion, age and the like. During the financial year 2007/2008, this company recorded a profit of 2.3 million pounds. It assists with the development of an effective stakeholder communication and engagement strategy and is a fundamental element of an organization's stakeholder management plan. This report is shared in order to give you an idea of what the complete BCG Analysis Report will cover after purchase. Strong operational efficiency leading to a low-cost model. the elasticity of demand is determined by competition. Stakeholder maps provide four different types of value: 1. Despite an increase in operating costs in 2010 Easyjet has achieved a remarkable performance compare to 2009. This is because the airline has been able to capture key routes in Europe. You are free to use it for research and reference purposes in order to write your own paper; however, you Building your map. The growth of the airlines in these markets will ensure that it is able to gain market share and expand its operations. Some Key Publics/Stakeholders for BP (British Petroleum) 500 Words; 2 Pages; Some Key Publics/Stakeholders for BP (British Petroleum) . This is especially so since the threat among the regional airlines is higher as compared to the local routes. The four-part table or simply four quadrants are used to categorizes them, which fall into two categories one category is the stakeholder's interest, and the second one is the stakeholder's influence in the . You can export it in multiple formats like JPEG, PNG and SVG and easily add it to Word documents, Powerpoint (PPT) presentations, Excel or any other documents. About stakeholder mapping in Smaply and a step by step introduction. Impact of Covid-19 on the economy and airline industry, 1. Furthermore, the strategy which has been employed by this company has ensured that it is able to operate and bring forth profits and dividends to the investors (Burrow, Kenneth & Brad 2007 ). Continuing to develop our revenue management capability such as enhancements to our pricing algorithms. easyJet's updated framework continues to build on its competitive advantages - an unparalleled network and market positions, efficient low cost model, well-known brand and strong balance sheet - positioning easyJet to deliver sustainable and disciplined growth and returns for shareholders. Analyzes how the airline industry is affected by negative and positive externalities, such as the rise and decline in fuel costs and air traffic congestion. easyJet has a cost advantage over its major competitors on the primary network that it operates. 4 min. The second aspect which is on the strategy of this company is sustainability. EasyJet is a British low cost airline company that flies both domestic and international routes. Explains that suppliers would want easyjet's business to gain profit and popularity as this would mean that they would need to buy more of their products. Explains stakeholder groups are individuals who hold a particular interest in the business and are affected by its activity. 1. Last month's quarterly trading update reported an 8% increase in unit revenues for the Oct-Dec quarter and forecast a significant narrowing of first half pre-tax losses from GBP112m to between GBP50m and GBP75m. You can build your own Stakeholder map using the simple steps summarized below: 1. Subsidiaries, Partnerships and Collaborations Report. First choice brand and increasing customer loyalty. why do airlines go bankrupt?. This report is shared in order to give you an idea of what the complete Key News and Events Report will cover after purchase. this is unlike nonunion workers who are considered "at-will" employees. The threat which faces this airline is the availability of substitutes. Explains union dues and initiation fees are one of the major cons for unions. . Explains that public employees voice their grievances to their leaders, who in turn sit down with the employer or government representative for negotiations. This report is shared in order to give you an idea of what the complete Regulatory Outlook Report will cover after purchase. Cuts down my effort to surf through heaps of redundant data.-Alexandra MookiMajor in Business Administration, Carnegie Mellon University, This website has an amazing support team. Explains that the airline industry has benefited from living wage legislation because the wage increase encouraged a decreased turnover rate, and an increase in work efficiency. Explains that airlines use a formula of combining their yield and inventory costs to determine ticket prices. Members that are needed for the company to maintain are referred to as primary stakeholders whereas others are called secondary stakeholders.Primary stakeholders can be identified as employees customers investors and . Leaders (including data / analytics / insight leaders) will easily recall others they work with often. Additional ESG information - Financial Year 2021, Directors' interests and substantial interests. The tools of stakeholder analysis mean that this is not a major problem for management. Explains that first class attracts high-income earners who are concerned with a high level of service and enjoy an air of exclusivity. In this case, EasyJet is a company which has demonstrated several strengths which have made it to stand out. Ferrell, OC, Hirt, GA & Linda, F 2006, Business:a changing world, 5th edn, McGraw Hill/Irwin, California. Weaknesses. the increased passenger traffic is a result of lower fares and fair macroeconomic conditions. Explains that oligopoly is when select firms dominate a select market, and the action of one producer affects the influences of other producers. The companies partnering in the agreement are in a memorandum of understanding that this project will shape the technical future of the airlines in a sustainable manner. STEP 2: STAKEHOLDER ANALYSIS In the beginning of planning a Stakeholder engagement process, a Stakeholder Analysis needs to be carried out. Explains that british airways is committed to actively promoting diversity and understanding. the company offers advice, guidance, information and support for managers and colleagues relating to the latest discrimination laws. Defines collective bargaining as the process by which the parties to the employment relationship (thus employers, trade unions and employers with their representatives) come together to negotiate an agreement with the regards to terms and conditions of employment. Barnes, D 2008, Operations Management: An International Perspective, illustrated edn, Cengage Learning EMEA, California. Heavy regulatory environment with three different European airlines regulators, 1. Explains that unions can enable almost everything that is good for employees and also helpful for the union in many ways. Environmental, Social, and Governance (ESG) Analysis Report. Opines that trade unions would want easyjet to keep within their employees' rights by paying them their correct wage and treating them with respect. Analyzes how ryanair's valuation maintains assumptions set forth in its 2004 annual report. There are unions in almost every conventional business. easyJet is delivering its strategy through four strategic priorities, which define the areas of focus to achieve their ambition. Reach thousands of academicians and corporates. Revenue is increased through not having to deliver or post tickets out to its customers, in comparison with other non-internet based airlines. Burrow, J, Kenneth, E & Brad, K 2007 , Business Principles and Management, 12th edn, Cengage Learning, California. English Franais Deutsch Italiano Franais (Suisse) Deutsch (Schweiz) Castellano Nederlands Portugues Catal esky Dansk E Magyarul Polski Trke Explains jet2's home website, where bookings and timetables can be made, and the companys mission statement, background information and aims for the future. And lastly, flexibility, this refers to the ability to change operations (Jones 2005 ). individuals or groups with a vested interest in your product or project) and understanding their relationships with each other. This report is shared in order to give you an idea of what the complete Environmental, Social, and Governance (ESG) Analysis Report will cover after purchase. Creating a stakeholder map: step 1. The project will be based on the various packages essential for making the next-generation, sustainable aircrafts suitable for usage in commercial sector by identifying and solving the technical glitches or challenges and requirements of the green aircrafts. In the recent past, the airline has been carrying out an evaluation regarding its fleet. Some of the strategies which have been synonymous with this company include maintaining and promoting a people friendly company culture, providing leadership to dynamic workforce, helping the community and charitable programs to get better results, ensuring suppliers optimize their energy usage and materials management and finding practical solutions to eliminating waste. As of 2019, EasyJet strives to become the first major airline in the world to offset the carbon emissions from all its flights fuel consumption on its customers behalf. Their experience helps a project avoid pitfalls and getting their help builds stronger relationships. easyJet is confident that through its strategy it will deliver sustainable growth and returns for shareholders. 2. analyze stakeholders by impact and influence. 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