Paper Summary:

This paper presents a business plan and strategic analysis for a fictitious business start up, 1st air.com, that aims to operate a luxury short haul airline model in the UK and wider Europe. The paper includes the company's mission statement and examines its marketing, research and development, targeting and market research and approaches to finance and technology. The paper provides a PEST, SWOT and five forces analysis as well as relevant conclusions on the subject of business and strategic planning.

Outline:
Introduction
1st Air.com Mission Statement
Strategic Planning
Analysis and Implementation
Factors Considered
Benefits of Strategic Planning
Improvements to the Strategic Plan
Conclusion

From the Paper:

"Targeting and market research has been a critical part of 1st Air.com's strategy. As a company which has opted to target a small niche which other airlines have overlooked, it is essential that the company continuously assesses the changing needs of this customer base so as to ensure that competitors are not successful in stealing the company's small target audience. In conducting research, one of the company's primary methods is the conducting of surveys with existing customers; the company receives a higher than average response rate due to the nature of having a captive audience in flight.
"Given the seasonal nature of the airline business, this can create large cash surpluses around key trading periods such as Christmas and the summer holidays but shortfalls elsewhere in the year. As such, 1st Air.com has to adopt a strategic approach to finance especially cash flow management. Here the company plans to hold back reserves of cash from peak period to pay for the maintenance of expensive fixed assets in quieter times. Many airlines have a policy of reducing prices in quieter periods so as to help such problems however, 1st Air.com does not adopt such a strategy as it is believed that this may devalue the company's overall generic strategy (Porter 2004)."

Sample of Sources Used:

• Brassington, F, Pettitt, S. (2006). Principals of marketing. 2nd ed. Harlow: FT Prentice Hall.
• De Witt, B, Meyer, R. 2004. Strategy Process, Content, Context. 3rd ed. Australia: Thomson.
• Grant, R, M. 2008. Contemporary strategy analysis. 6th ed. Oxford: Blackwell Publishing.
• Hitt, M, A, Ireland, D, R, Hoskisson, R, E. 2011. Strategic management. 9th ed. Australia: South-Western.
• Jobber, D. 2007. Principles and practice of marketing. 5th ed. London: McGraw Hill.

Visitors who viewed this Business Plan also liked these:

• Business Plan # 141726 : "A Business Plan for Timothy's Franchise"
• Business Plan # 27231 : "Business Plan for Istanbul Restaurant"
• Term Paper # 121268 : "First Grade Math Lesson Plan"

APA Citation:

MLA Citation: