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It is commonplace for today's transnational enterprises to
undertake political risk analysis when choosing foreign markets and
creating entry strategies. Despite this, non-market elements of
corporate strategy are less well researched than the traditional
market-based perspectives. Providing comprehensive and leading edge
overviews of current scholarship, this Companion surveys the
current state of the field and provides a basis for improving our
understanding of the non-market environment, encouraging new
insights to improve strategies for enhancing a firm's performance
and legitimacy. With a foreword by David Baron, the international
team of contributors includes Jean-Philippe Bonardi, Bennet Zelner,
and Jonathan Doh, who combine to create a book that is essential
reading for students and researchers in business, management, and
politics, including those interested in business regulation,
environmental policy, political risk and corporate social
responsibility.
Competition in air transport has been transformed by industry
liberalization initiatives, resulting in the emergence of a wide
array of new airline start-ups. Restrictions on low fares have been
removed, uniform control requirements have been established, and
legislation has facilitated the proliferation of low-fare carriers
and competition. The new breed of independent low-fare airlines
(LFAs) use market freedoms to shake up the industry's competitive
dynamics and offer the customer the alternative of low prices and
basic service. A successful low fare business model requires a
ruthless and relentless focus on cost cutting and increased
operational productivity, combined with an ability to generate and
maintain a cash surplus and a cautious but steady fleet and route
network expansion. The mastery of these techniques has made
Southwest and Ryanair industry leaders, but others such as EasyJet
also have a proven record of profitability and market growth,
despite not always being the lowest cost or price providers. In
this comprehensive and topical study the author systematically
provides: A* a step-by-step approach to understanding the
conditions and choices shaping airline competitiveness, and an
assessment of the nature of the low fare market A* a comprehensive
study of the low fare airline sector's evolution and growth and
arguments as to why the European low fare industry is here to stay
despite the inevitability of a shake out (reminiscent of the early
1980s in the USA). A* unique insights into the success of low fare
market leaders in Europe, North America and Australasia and an
examination of the experience of US new entrants in the
post-deregulations era, to discern strategic lessons for their
counterparts; A* critical perspectives on strategic management
principles and practices in modern airline companies, discussing
strategies for survival, and comparing competitive strategies for
the main low fare airlines and their limitations; A* key reasons
for the robustness of the low fare business model during industry
crises The book also determines the conditions and strategies that
shape sustainable advantage for LFAs in highly competitive
deregulated markets where established airlines seek to force out
new entrants and considerable political interference remains.
Moreover, the book considers why, during the airline industry
crisis of late 2001, the market capitalizations of low fare leaders
held steady in the wake of the US terrorist attacks, while the
major carriers on both sides of the Atlantic were decimated.
Cleared for Take-Off is essential reading for airline executives,
aerospace manufacturers, regulatory and government transportation
agencies, researchers or students of aviation management, transport
studies, the travel industry and/or corporate strategy.
This valuable volume reprints the most important and influential
journal articles and papers on aviation management with an
extensive introduction by the editor. The volume is designed to
improve access to the journal literature for libraries expanding
their collections and provide scholars with a convenient and
authoritative reference source. Tom Lawton selects the best of the
management literature in this area from the top journals as well as
including harder-to-find articles in the wider strategic management
literature. The volume will be essential reading for all scholars
and students interested in aviation management issues as well as
those working in the industry who want a snapshot of current
thinking in the field.
Competition in air transport has been transformed by industry
liberalization initiatives, resulting in the emergence of a wide
array of new airline start-ups. Restrictions on low fares have been
removed, uniform control requirements have been established, and
legislation has facilitated the proliferation of low-fare carriers
and competition. The new breed of independent low-fare airlines
(LFAs) use market freedoms to shake up the industry's competitive
dynamics and offer the customer the alternative of low prices and
basic service. A successful low fare business model requires a
ruthless and relentless focus on cost cutting and increased
operational productivity, combined with an ability to generate and
maintain a cash surplus and a cautious but steady fleet and route
network expansion. The mastery of these techniques has made
Southwest and Ryanair industry leaders, but others such as EasyJet
also have a proven record of profitability and market growth,
despite not always being the lowest cost or price providers. In
this comprehensive and topical study the author systematically
provides: A* a step-by-step approach to understanding the
conditions and choices shaping airline competitiveness, and an
assessment of the nature of the low fare market A* a comprehensive
study of the low fare airline sector's evolution and growth and
arguments as to why the European low fare industry is here to stay
despite the inevitability of a shake out (reminiscent of the early
1980s in the USA). A* unique insights into the success of low fare
market leaders in Europe, North America and Australasia and an
examination of the experience of US new entrants in the
post-deregulations era, to discern strategic lessons for their
counterparts; A* critical perspectives on strategic management
principles and practices in modern airline companies, discussing
strategies for survival, and comparing competitive strategies for
the main low fare airlines and their limitations; A* key reasons
for the robustness of the low fare business model during industry
crises The book also determines the conditions and strategies that
shape sustainable advantage for LFAs in highly competitive
deregulated markets where established airlines seek to force out
new entrants and considerable political interference remains.
Moreover, the book considers why, during the airline industry
crisis of late 2001, the market capitalizations of low fare leaders
held steady in the wake of the US terrorist attacks, while the
major carriers on both sides of the Atlantic were decimated.
Cleared for Take-Off is essential reading for airline executives,
aerospace manufacturers, regulatory and government transportation
agencies, researchers or students of aviation management, transport
studies, the travel industry and/or corporate strategy.
It is commonplace for today's transnational enterprises to
undertake political risk analysis when choosing foreign markets and
creating entry strategies. Despite this, non-market elements of
corporate strategy are less well researched than the traditional
market-based perspectives. Providing comprehensive and leading edge
overviews of current scholarship, this Companion surveys the
current state of the field and provides a basis for improving our
understanding of the non-market environment, encouraging new
insights to improve strategies for enhancing a firm's performance
and legitimacy. With a foreword by David Baron, the international
team of contributors includes Jean-Philippe Bonardi, Bennet Zelner,
and Jonathan Doh, who combine to create a book that is essential
reading for students and researchers in business, management, and
politics, including those interested in business regulation,
environmental policy, political risk and corporate social
responsibility.
In today's multipolar world economy, strategic alignment is a key
determinant of competitive advantage. Coca-Cola, Danone, Diageo,
DuPont, Lufthansa and Tata are some of the companies that strive
for a pragmatic approach to balancing competitive strategies with
political and social obligations. Aligning for Advantage argues
that to build and sustain corporate success, companies must
synchronize business objectives and market positions with political
and regulatory activism and social and environmental engagement.
Moreover, to be credible and realizable, these external market and
nonmarket strategies need to be equally attuned with corporate
vision, values, and culture. The book advances a managerial process
and conceptual framework for aligning corporate strategy. In some
cases alignment may mean deep, strategically embedded partnerships
with governments, NGOs, or other stakeholders. In others, alignment
may take the form of looser, temporary collaborations with outside
organizations. No matter the approach, the relationship between
nonmarket and market strategies should be deliberate and genuine,
not accidental or artificial. Truly aligned strategies should
reconcile and modulate sometimes conflicting external demands in a
way that is appropriate for the corporation's geographic and market
positions. In the end, companies must leverage their overall
nonmarket strategy as a source of competitive advantage.
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