Discussion Forum Unit 4
Identify the possible stakeholders for one of the following firms and discuss their interest.
1. A water utility company
I have identified the possible stakeholders for the water utility company as follows:
(a) Customers
(b) Communities
(c) Employees
(d) Suppliers
(e) Investors
Interest:
Customers:
Their interest as customers is to have better products and services that offer values and cost effective with safe and clean water.
Communities:
To have facilities that are safe for the environmental. Create job opportunities and using local contractors for social development and economic.
Employees:
Their main interest is to be able to work in a workplace that is committed to health and safety environment and motivated
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Investors:
A long-term return and company that grow and seek opportunities and competition among other players in the industry.
2. A multinational food company
I have identified the possible stakeholders for the multinational food company in which I have chosen the fast-food industry as an example. Their possible stakeholders are as
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A local airport
I have identified their stakeholders as follows:
(a) Passengers
(b) Air carriers
(c) Employees
(d) Service Providers
(e) Investors
Interest:
Passengers:
To have great services and quality carrier. Easy transition and facilities to pass through the airport system. Safe journey.
Air Carriers:
For both cargo and passenger carriers, their interest is mainly on time management that is able to carry out their operation and transportation services on time and better facilities to accommodate high volume for cargo clearance and baggage. Low cost of airport operations.
Employees:
Their interest is to have secure jobs, bound by minimum wages clause and adequate benefits. To have a union to support their well-being and work relations.
Service Providers:
These are the group of private companies that support the airport operations such as services to the carriers and general aviation users. Their interest is to maximize the traffic volume where their revenues would come and minimizing the cost fees to the airport.
Investors:
To have good ratings on facilities and carriers that create high traffic volume which leads to high
service allowed airlines to start service, and the use of airport infrastructure has been the source
value. Example, Business travelers are sensitive to flight times and expect a high level of
To grow a profitable airline, where people love to fly and where people love to
Airport transportation is one of the most crucial components of the transportation system. Annual passengers enplaned generally
The final strategic issue is customer service. With such low switching costs, customers can easily find other airlines with which to do business. In today’s economic climate consumers are hunting for the cheapest price, unless loyalty can be developed through quality customer service. These areas for attention include on-time arrivals, safety image, and bag handling.
Airline industry is an industry that provides a unique service to the customer, which is there, is no other industry or substitute that can beat with the airline industry efficiency. The airline industry efficiency here is about, how an airplane can serves the customer during their journey with that airline company and how the airline company can help the customer to arrive at their destination place on time. As we know, airline industry is unique because it is one alternative way that often choose by customer to arrived at their destination more earlier than if they used other transportation or alterative to go somewhere. Many companies used these Porter’s five forces analysis to analyze the level of competition in the
competition than in the past and need a strategic plan to remain competitive. As a part of
The stakeholder theory is a theory of organizational management and business ethics that addresses morals and values in managing an organization.[1] It was originally detailed by R. Edward Freeman in the book Strategic Management: A Stakeholder Approach, and identifies and models the groups which are stakeholders of a corporation, and both describes and recommends methods by which management can give due regard to the interests of those groups. In short, it attempts to address the "Principle of Who or What Really Counts."[2]
Fulfilling the required service quality for passengers’ is one of the value adding assets for airlines business in the
Reduce and monitor air freights – Since these airlines are frequent flyers reducing the load on the aircraft. It would also improve the flying experience, especially through
Safety of the passengers would ensure that business transactions are held without any form of panic more so amongst different countries.
International expansion is one of the main motives of the airline industry in the present market. Every airline wants a growth in their 6th Freedom traffic potential. 6th Freedom traffic is where airlines can carry passengers from one foreign country to another foreign country while making a stop in the airlines country of origin. For example, Air Canada is can operate a flight from India to USA if there is a stop in Canada. This will be really helpful for the customers because there travelling time will be less and there will be less connecting flights to take and the airlines can offer customers tickets at a lower cost because the airlines operating cost will be reduced because of this system. Since 2010, Air Canada’s 6th freedom traffic revenue rose by 75% and that is approximately $250 million US Dollars. And
Strengths: 1. Huge number of existing customers, and rapidly growing potential customers 2. Very stable domestic market with increasing routes and flights 3. Based on comprehensive airlines transport management systems and relatively harmony society, there are few issues related to security 4. Steady economic growth which would contribute to customer purchasing power
Airline own or long term lease contracts on key facilities (eg. terminals) • They offer favorable terms for usage airport.
When airline industries has a good reputation in both international and domestic markets, quality service and the age-old Goodwill that has still kept it alive in the interests of the rescue operators.