Please respond to each discussion post.

Post 1

What choices did you make in your first round?

In the first round SkyZone United Airlines was very conservative in the decisions we made. Since taking over the company we wanted to get a feel for what the market was like as well as our competitors. We decided to keep our fares in the normal range as a way to keep a competitive advantage. Another major decision we had to make was on our finances and whether we wanted to do short-term or long-term loan to help with startup. We decided on doing a short-term loan and then quickly realized that may have not been the best buisness decision for ourselves. We then adjusted our finances accordingly in order to be more profitable.

How did the results reflect or not reflect your desired outcome of those choices?

With this being the first go round, I think we made some really good business decisions. We came in at number 2 compared to our competitors which is not so bad after all. Like any company, our desired outcome was to see a profit for end of quarter 1 and we did exactly that. We managed to stay afloat with minimal losses and minimal risks we had to take. On the down side we experienced some issues with our marketing, but with a few minor changes we plan to turn that around in Quarter 2.

What did you learn in the process?

There was a lot to learn through this process. For one, any business decision you make from the beginning can either affect your short-term outcome or in the long-term. It is important to have a great start so you have the momentum to overcome any downfalls the company may experience. Now only do you have to think about the Now, but also the Then. Another major takeaway is that you must be prepared for any type of incident that could happen within the company. Although you can not control the incident, you can control the outcome and the overall impact it has on the company depending on how you handle the situation.

 

Post 2

What choices did you make in your first round?

We at Skyzone United decided to maintain a standard fare per mile to remain competitive which resulted in the firm having the second most profitable company in the industry as a result. In addition, we believe the challenge of addressing the issue of employee retention has been tempered by paying our employees over the prevailing industry wages. In doing so, we have reassured our employees that we value their efforts in hopes of keeping our turnover low.

How did the results reflect or not reflect your desired outcome of those choices?

Skyzone United decisions were made with seeking to become the airline of choice while increasing value for our shareholders and stakeholders alike. We do have some challenges ahead in terms of understanding whether or not we should increase fares whereby increasing revenue or make other internal cost savings changes that will increase the value of the company.

What did you learn in the process?

What I have learned in this process is that firms have to managed a crisis in a way that appears to address the issue realistically and perceptually so the brand is not weakened. Competitors are watching how firms address crises because it could present an opportunity to capture our customers; especially when it comes to safety issues in the airline industry

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Status NEW Posted 24 Jul 2017 02:07 PM My Price 10.00

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