Assignment 2: Intrapreneurship Plan

timer Asked: Nov 22nd, 2016

Question description

From Assignment 1, select one (1) of your proposed business actions and create an intrapreneurship plan. Remember, intrapreneurship refers to the process of promoting innovation within your workplace. You might want to review Chapter 6 for more details about intrapreneurship and creativity. The idea is to create a “business plan” to promote your idea to your supervisor.

Due Week 6 and worth 200 points From Assignment 1, select one (1) of your proposed business actions and create an intrapreneurship plan. Remember, intrapreneurship refers to the process of promoting innovation within your workplace. You might want to review Chapter 6 for more details about intrapreneurship and creativity. The idea is to create a “business plan” to promote your idea to your supervisor. Write a four to five (4-5) page paper in which you: Describe in what way your proposed business action is an innovative idea. Tip: Remember, this is your idea, and you need to be precise in your proposal to obtain your supervisor’s support. Explain why you think this idea will benefit the business in terms of return of investment (ROI). Tip: Check Chapter 6, pages 183-184. Click here for help accessing a specific page number in your eBook. Prepare a plan to present your idea to your supervisor covering the following items: Create a vision of your idea that explains the value to the company. Assess the resources needed (e.g., financial, human resources, machinery, logistic, etc.) to execute your idea. Assess potential interdepartmental and / or interoganizational relationships needed to complete your proposal. Explain and support your reasons. Propose a potential timeline for completion. Tip: How long do you think you will need to implement this idea? Use at least two (2) quality academic resources you have located using the Strayer Learning Resources Center (LRC) / Strayer databases in this assignment. Note: Wikipedia does not qualify as an academic resource, and neither do web-based blogs. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA format. Include a cover page containing the title of the assignment, your name, your professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Analyze business plans based on an analysis of domestic and global operating environments, market dynamics, and electronic and internal capabilities. Evaluate the different forms of business ownership to determine the optimal structure in different scenarios and the process for a business start-up. Use technology and information resources to research issues in contemporary business. Write clearly and concisely about contemporary business using proper writing mechanics. Click here to view the grading rubric for this assignment. JetBlue Airways Corporation SWOT Analysis. 6/30/2016, p1-8. 8p. , Database: Business Source Complete Subjects: Airline industry; SWOT analysis; Long Island City (New York, N.Y.); JetBlue Airways Corp.; Scheduled air transportation; Scheduled Passenger Air Transportation Add to folder
Running head: BUSINESS ANALYSIS OF JETBLUE AIRLINES Business analysis of JetBlue Airways Corporation Liliana Pinzon Strayer University Dr. MeLinda Swigart 10/24/16 1 BUSINESS ANALYSIS OF JETBLUE AIRWAYS CORPORATION 2 Introduction The deregulation of airways industry in the mid-20th century gave the airways leeway to growth and prosperity. One such airline that gained competitive edge is the JetBlue Airways Corporation. The airline demand has grown due to their excellent customer service as well as providing industry leading amenities aside from being low-cost carriers. The company’s ever growth in revenues, an influx of passengers is attributed to an effective marketing strategy that aims at providing and expanding its premium services. Despite, their success in the industry, the company has some weakness and threats to its ever expanding fleet of aircraft. The essay will evaluate and analyses JetBlue Airways Corporation using SWOT as well as the formulation of company’s mission. Business analysis of JetBlue Airlines: Strength and weakness Since its inception in 1998 by its parent company of Lufthansa airways, the airways have grown from strength to strength taking advantages of the opportunities in the market and minimizing their threats and weakness (Gopinath & Siciliano, 2013). Currently, the airline has diversified their fleet composition and has daily flights to US, Latin America and the Caribbean of its 87 destinations. Currently, JetBlue Airways is the fifth largest airline in the USA because of its strengths (Gopinath & Siciliano, 2013). The company’s strength lies in their exceptional customer services such as the provision of compensation to the client who misses their flights due to unavoidable circumstances. The airline has attractive amenities despite being low-cost carriers (Gopinath & Siciliano, 2013, p. 53). These facilities have set them aside from the BUSINESS ANALYSIS OF JETBLUE AIRWAYS CORPORATION 3 competition as they free meals, excellent legroom and movies on board unlike other low-cost carriers (Gopinath & Siciliano, 2013, p. 52). The airline is also struggling with their weakness. The first weakness is they have low earnings because of correlated fuel prices that have skyrocketed. Currently fuel cost consistent of 36% of the total operating cost making it the largest expense in their books (Harrison & John, 2013). The company has the high debt levels of approximately $1.9 billion of capital lease obligation and long-term debt; the debt makes up 41% of the total capital. A company of its stature should not have high debt level (Harrison & John, 2013, p. 5). Social and economic factors impacting the performance of JetBlue The biggest social and economic factors that impact the performance of JetBlue is competition, geographic risks, and terrorism. Since the company operates in North America and Latin American where terrorism activities are minimal, competition and geographic risk are the biggest factors affecting the company. The biggest threats that JetBlue Airways faces is competition in the domestic airline sector. Other low-cost carriers like Southwest Airlines and Delta Air Lines (DAL) offer competition, and they have greater financial resources and name recognition that JetBlue. Another socio-economic factor is Geographic risks of places like Latin America (Harrison & John, 2013). The expanding of the airline is exposing it to unique risks like economic and political uncertainty in Latin America. The Latin America is prone to unstable governments as well as less development legal systems (Harrison & John, 2013, p. 5). These nations are prone to violence, and the company can lose aircrafts on ground or be shot at when airborne. Proposal for Solution BUSINESS ANALYSIS OF JETBLUE AIRWAYS CORPORATION 4 The best news for the airline is that their external environment has opportunities. Instead of expanding their services to Latin America, the company can expand their services to Ohio, Reno, and even Cleveland where they are not operating currently. They can even expand their routes to Australia, Europe or even Africa. The company has a huge potential to become a great inter-continental low-cost carrier. The second proposal for the company to overcome stiff competition, they should diversify their sources of revenue. The expansion of these routes would see the company operate in a safer route that is profitable instead of operating in a risk threat areas. Since the company operates low-cost services that are above normal services, they have an opportunity in higher margin services. The company has opportunities in higher margin services despite being low-cost carriers (Harrison & John, 2013). They can offer both low-cost carriers and premium services to their passengers especially in New York City, Los Angeles, and Washington DC passengers who can afford such services. It would also attract the new segment of customers that flies with regional aircraft. The solution would ensure that JetBlue operates two segments of the market: Low cost and premium services. Therefore, the company stands to gain a lot of money from the two ventures. The premium services would be offered selectively to avoid killing the main business of the company. Conclusion It is remarkable how JetBlue Airways have expanded their services from 1998 up to now. They are the fifth largest airline in America despite being a low-cost carrier. The provision of attractive amenities and excellent customer service has been their strength. The company is faced with competition and geographic risk as their main social and economic factors that impact their operations. These risk factor can be mitigated by expansion to areas without geographic risks BUSINESS ANALYSIS OF JETBLUE AIRWAYS CORPORATION 5 like Australia and Europe. Secondly, the company can diversify their sources of revenue to offer premium services to specific clientele that can afford it. References Flouris, T. G., & Oswald, S. L. (2006). Designing and Executing Strategy in Aviation Management. Ashgate Publishing, Ltd. Gopinath, C., & Siciliano, J. (2013). Strategize!: Experiential Exercises in Strategic Management. Cengage Learning. Harrison, J., & John, C. S. (2013). Foundations in Strategic Management. Cengage Learning.

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