British Airways aim, objectives & stakeholders Analysis
Introduction to British airways:
The story of British airways began in 1924 when four small air companies merged to form imperial airways limited. British Airways is an airline company founded in 1974 with the aim to carry a large number of passengers from one place to another (British Airways, 2019). It is the second-largest airline in the UK that became privatized in 1987 by Sir John King appointed in 1981. Further, this company merged with Iberia in 2011 and introduced basic economy fares for long routes to provide low price services to customers (Boon, 2019).
This article talks about British Airways in which complete information regarding its business is given. Along with this, the information regarding aim and objective of British airways is also discussed in a clear manner. The article also includes stakeholder analysis in which information regarding stakeholder and their impact on the organization is elaborated. At the end of the article, some recommendations are given that will help British Airways in increasing the competitive edge of the organization and also to increase the customer satisfaction appropriately.
British airways aim and objectives:
The main aim of BA is to become the most responsible airline company in the world by achieving various strategic goals. The key strategic goals of British airways include build leading position for airline services in London, developing airline of choice for long-haul and customers with higher status and customers who could offer premium price for the services, meeting customer needs by providing outstanding services to customers and developing presence at global level ("FOCUSED ON OUTSTANDING CUSTOMER SERVICE", 2019). Along with this, British airways also aims at developing premium pricing strategies and gaining acceptance of customers towards these strategies by providing quality services. In addition to this. British airways aim at strengthening its service portfolio to gain higher satisfaction from customers.
Stakeholder's analysis-what are stakeholders and how they impact the company:
stakeholders are the individuals or groups of people that are interested in the working of the company and have the vast potential to affect the operations of the organization. Various stakeholders such as employees, owners, suppliers, shareholders, government authorities, people of the community, business partners etc. affect the operations of the organization by influencing various decision-making activities. Each stakeholder holds a different level of power to influence the operation and decision making of the organization. Profitability and successful running of the business depend upon the customers of the organization. Satisfied customers influence the success and growth of the business firm. Also, the major activities of the company depend upon a number of suppliers and employees of the organization. government authorities also influence the running of the business by developing the number of regulations and policies at regular intervals. Thus, it has been identified that various internal and external stakeholders of the organization influence the operational and decision-making activities (Kokemuller, 2019).
British airways stakeholders’ analysis:
Various stakeholders of British airways include customers, government authorities, employees, shareholders, etc.
Shareholders are important stakeholders of any organization and play a key role in various decision-making activities of the organization. British Airways must keep its shareholders informed about various decision-making activities of the organization by organizing regular meetings and by conducting regular discussions on various key issues. British Airways offer an effective return on investment to its shareholders to keep them satisfied with the organizational activities. Along with this, British airways also provides details regarding the financial position of the company to its shareholders (Parsa Lohani, 2019).
Various employees of British airways include maintenance, flight crews, customer service, pilots, engineers, etc. British Airways has taken various initiatives to ensure that employees are kept satisfied in the organization. British Airways provide regular training to its staff members to increase the performance efficiency of its staff members. Also, British Airways maintains diversity in the organization to provide effective services to passengers. Further, British Airways also provides various financial and motivational incentives to its employees such as effective remuneration packages, discounts on flights, training opportunities, etc. to improve the motivation level of employees.
Government and regulation authorities are essential stakeholders of British airways as British airways have to comply with various policies and regulations of government authorities. Also, British Airways has established a separate department i.e. legal department to comply with all regulations of government authorities.
All the functioning and operational activities of the organization are based on the needs and demands of its customers. British Airways regularly adopt the number of measures to provide useful and quality services to customers. Further, British airways also conduct regular feedback sessions to gain feedback from its customers regarding the quality of services provided to them. The company conducts independent research of around 36000 customers each month. Along with this, various discounts and offers are also provided at regular intervals to attract large number of passengers. The whole profitability of British airways depends on its customers ("British Airways", 2019).
British Airways is one of the largest airlines in the UK by turnover. The main competitors of British airways include easy jet, jet 2, virgin, etc. British Airways has adopted a number of competitive strategies to gain a large number of customers. However, various low pricing airlines may affect the working of British airways.
Suppliers are the main stakeholders of British airways. The two main suppliers of BA are Boeing and airbus. Also, BA depends on various online travel agents as various customers buy tickets for traveling directly on various online websites.
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Stakeholder grid of British Airways.
Following tabular representation shows the power and interest of each stakeholder of British airways:
|Keep satisfied (high power, low interest)||Manage closely (high power, high interest)|
|Monitor (low power, low interest)||Keep informed (low power, high interest)|
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Thus, it has been identified that suppliers and competitors are the major stakeholders of British airways. The company should manage its competitors and suppliers all the time to gain a competitive advantage in the industry and to provide effective services to customers. Along with this, it has been identified that British airways should keep its employees informed all the time to maintain effectiveness in services provided to customers. Also, British airways should monitor the actions and needs of people of the community to gain higher acceptance from the community. A higher power has been found to exist with customer and government authorities which provide that demands of customers and actions of government can directly influence the working of British airways.
- British airways should implement various customized strategies to increase the satisfaction of customers and to retain the existing customers in the company. Efforts should be made by British Airways to improve customer relations.
- British airways should also extend its destination services by extending its services to new destinations and by launching new flights. Thus, BA should increase its focus on new markets.
- Various security risks can be faced by BA that could also impact the brand reputation of BA. The company should take initiatives to reduce various security risks associated with various destinations.
- The company should also take initiatives to deal with competitive pressures from various low pricing airlines.
Thus, it has been identified that British airways should take various initiatives to increase its customer satisfaction and to improve its competitive advantage in the industry.
- Boon, T. (2019). The Story Of British Airways - How Has The Airline Got So Big? - Simple Flying. Retrieved 27 December 2019, from https://simpleflying.com/british-airways-history/
- British Airways. (2019). History of British Airways | SeatMaestro. Retrieved 27 December 2019, from https://www.seatmaestro.com/airlines-seating-maps/british-airways/history/
- FOCUSED ON OUTSTANDING CUSTOMER SERVICE. (2019). Retrieved 27 December 2019, from https://www.britishairways.com/cms/global/microsites/ba_reports0910/pdfs/Strategy.pdf
- Kokemuller, N. (2019). How Do Stakeholders Influence Business Activities?. Retrieved 27 December 2019, from https://smallbusiness.chron.com/stakeholders-influence-business-activities-18754.html
- Parsa Lohani, M. (2019). British Airways: Stakeholders Objectives. Retrieved 27 December 2019, from https://www.slideshare.net/ParsaLohani/british-airways-stakeholders-objectives
- Travel advice | Information | British Airways. (2019). Retrieved 27 December 2019, from https://www.britishairways.com/en-gb/information/travel-advice
What is British Airways mission statement?
The mission statement followed by British Airways is â€œOne Destination seeks to ensure our customers fly confidently that, together, we are acting responsibly to take care of the world we live in
What are the aims and objectives of British Airways?
The five key goals of British Airways include becoming the choicest airlines for longhaul premium customers, delivering outstanding customer service, multiplying presence in global cities, strengthening the lead in the London market and ensuring to meet the customers' needs.
Who are British Airways stakeholders?
Shareholders, employees, government authorities, competitors, media, local communities, customers and suppliers are few of the most important stakeholders of British Airways that directly or indirectly impacts the working and profitability of BA.