STARTEGIC PLAN Harvard Case Solution & Analysis

VISION STATEMENT:

Venture Air strives to become the global leader in the airline industry with service built on a passion.

COMPANY MISSION STATEMENT

We are consumer focused and therefore we continuously improve the quality, look, feel and image of our aircrafts to match and exceed consumer expectations and to provide them with the highest value.

SWOT ANALYSIS

The SWOT Analysis is a strategic tool for evaluation of company’s internal factors Strength and Weakness and external factors Opportunities and Threats.  SWOT Analysis is very helpful for making better strategy to compete other firms through using its own strategic competitive resources and strengths to achieve emerging opportunities and overcome the future threats. Venture Air SWOT Analysis will help it to achieve its strategic goals and so for better understanding of SWOT analysis and making better strategic planning, the analysis is done through making a grid matrix sheet of Key Internal Factors and Key External Factor Analysis as given below;

Key Internal Factors

Weight

Rating

Weighted

Score

Strengths

1. Standardized service

0.1

4

0.4

2 customer  focused offerings

0.1

4

0.4

3. Partnerships

0.15

4

0.6

4. IT infrastructure

0.1

3

0.3

5. Government relations

0.05

3

0.15

Weaknesses

1. Three small planes

0.05

2

0.1

2. Cost structure

0.15

2

0.3

3. Unprofitable routes

0.15

2

0.3

4. Financial position

0.05

1

0.05

5. Reliance of business fares

0.1

2

0.2

TOTAL

1

2.8

The Key Internal Factor analysis shows that the Venture Air line strings weighted score is favorable with respect to our analysis and its weakness score is somehow good and thus cumulative weighted score are average and favorable that shows the company is using its strengths very optimally to overcome its weakness. The Venture Airline Company is overall good enough, but for going to be global player it has to purchase some more planes and also it has to expand its business operations as the Emirates Airline did and prove to be the leading international airline with the great number of routes and huge market share.

KEY EXTERNAL FACTORS

Weight

Rating

Weighted Score

Opportunities

1. Huge market share exists globally

0.15

4

0.6

2. Travel increasing in general

0.05

4

0.2

3. Low interest rates

0.05

3

0.15

4. Government backed loans

0.05

3

0.15

5. Information Technology

0.05

4

0.2

6. New fuel efficient engines

0.05

3

0.15

7. Partnerships with other Airlines

0.1

3

0.3

Threats

1. Increased air travel inconvenience

0.05

4

0.2

2. Business travel declining

0.1

3

0.3

3. Increased competitor's pressure

0.15

4

0.45

4. Availability of pricing information

0.1

3

0.3

5. Overcapacity in industry

0.1

2

0.2

Total

1

3.2

The External Key Factor analysis shows that there huge market share exist in the airline industry and the opportunity factors analysis of Venture Air shows somehow favorable weighted scores and there are also possible threats that exists due to intense competition exist in this  industry and the analysis grid of Venture Air shows that due to changes in economical situations and technological developments globally, so therefore new challenges and threats emerges in the airline industry, the analysis shows that cumulative weighted score is fair which means that the  Venture Airline uses its opportunities  effectively to overcome the threats in the air  industry.

COMPANY GOALS

The Venture Air is a leading international airline and serving quality services to customers with the aim to be the leading international airline in the airline industry.  This only can be done through the effective strategy making and its execution through setting the strategic goals, the Venture Air chooses SMART goals strategies which defines that the goal should be smart in nature, the goals should be measurable that one can quantify it periodically, so that one can analyze its consequences of occurrence, the goals should be attainable that seems in realistic sense achievable, the goals should be relevant to the nature of organization core business and visions, and the goals should be timely focused and timely constrained. The Venture Air sets following goals to achieve the long term goals which comes from the company’s vision statement and mission statement and are jot down respectively.

  • To be the global leader in the airline industry.
  • To retain and improve business class traveler’s market share.
  • To increase market share 20% to 35% globally.
  • Target low cost carriers' market to achieve a company’s return on investment.
  • Target Asian markets where demand is unmet.
  • To develop high tech facilities to satisfy the needs of customers.
  • To maintain high standardized and quality services.
  • Offering high quality services at reasonable price.
  • Develop better strategies to overcome the competitors’ pressures.
  • Build strategic partnerships relationship with the other airlines.
  • Employees should be motivated to deliver quality services.

The customers trust and mutual relationships should be maintained...................

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