Innovative Practices In Using Strategic Management Processes Tourism Essay

Consequences of Liberalization, Privatization, Globalization viz competition, Quality, low cost, high velocity in bringing, customization and client relationship forced the corporate to number Strategic Management processes, for doing speedy determinations and execution of such determinations, which shall, synchronise the activities of Organizations with that of Environmental Factors, so that, their Aims are achieved with less clash

Harmonizing to Management Scientist Henry Mints berg, Strategy is “ a Pattern in a watercourse of determinations which is aimed at accomplishing the ends and aims of the company ” .

Again John and Richard, Management Scientists, define, Strategic Management as, “ the set of determinations and subsequent actions used to explicate and implement schemes that will optimise the tantrum between the Organization and its environment in an attempt to accomplish Organizational aims ” . On the other manus, Samuel & A ; Peter specify Strategic Management as “ a uninterrupted, synergistic, transverse map & A ; procedure aimed at maintaining an organisation as a whole, suitably, matched to its environment ” .

Clubbed together, we may specify Strategic Management as:

A transverse functional procedure to see the Organization as a individual System.

A set of fiting Strengths of the Organization with the Opportunities.

A set of determinations and actions to accomplish organisational aims.

This paper intricately, discusses the success narrative of an Indian Based Air Lines, to the full using Strategic Management Processes and lists out the successes the company could accomplish, net incomes that had gained both touchable and intangible, awards it had won and Global Market Share it has captured. The paper besides pictures the Air trades being used by the Airlines, the amenitiess being extended to the Commuters, Intercontinental arrangements with Air Lines World over, for smooth Transit of the commuters etc

Cardinal Wordss: Strategic Management, Objective, Process, Airlines,

INNOVATIVE PRACTICES IN USING “ STRATEGIC MANAGEMENT PROCESSES ” -SUCCESS STORY OF JET AIRWAYS -AN INDIAN BASED AIRLINE

Introduction:

Strategic Management is nil but scanning the Internal and External Environment of the Company, to cognize its production capacity, capacity of its rival, overall demand the supplies it can do, cost monetary value, prevailing market monetary value of the merchandise, machineries involved, money beginnings, nature of human resources ( Semi skilled/skilled ) available as against demand, social reactions, legal hindrances etc ; It should besides be assessed as to whether ends can be reached, map wise, so as to accomplish the Aims of the company, and whether Mission statement needs alteration, in visible radiation of newer challenges or as to how the spread is traveling to be abridged.

Basic stairss of Strategic Management Process include:

Declaration of Vision, Mission and aims of the company.

External Environmental analysis

Internal Environmental analysis.

Revision of organisational way, as needed.

Formulation of alternate schemes function wise

Choice of best scheme, for each map.

Execution of selected best scheme to the map targeted.

1. Strategic Management Process includes preparation of strategic determinations like:

Price Reduction, through

cost decrease by majority production

labor cost decrease

procedure development

decrease of Inventory transporting cost

creative activity of demand for low cost merchandises

replacing by low cost stuff without compromising on quality

1.2 Effective use of available Resources particularly, Human, Finance and Materials.

1.3 Increasing the Gross saless, through marketing the products/services

by doing it available in assorted bundles, so that it becomes low-cost to all consumers

through reputed Marketing Channelss

by giving broad seasonal price reductions

by giving good price reductions to the sellers, till Product ‘s Brand gets established

by presenting the positive characteristics that are non available in rivals ‘ merchandises

by foregrounding sole benefits of the merchandises through less costlier advertizements

by taking Employees and Trade Unions into assurance and guaranting them a good portion of net incomes, the new product/service is likely to do

1.4 Decrease of Land & A ; Machinery cost

by buying/hiring critical components/cost intensive Utilities alternatively of doing

by doing available the costlier components/Utilities Just in Time.

1.5 Motivation of Labour

by often interacting with Trade Unions & A ; Workers and working out operable inducement strategies

by giving them equal Training in new Technologies

by bettering their working conditions & A ; Sanitary conditions by supplying them Canteen, Medical installations etc.

by giving them Job warrant based on their public presentation and advancing the

meriting employees

by planing a good calling planning for the employees/officers

by comprehending the employees as Brand Ambassadors of the new Product/Service and promoting them to acquire involved in the exercising of calling the Product/Service, packaging, selling through different market channels, maximising gross revenues

actuating the employees by sharing a part of the net income earned through new undertakings launched

1.6 Choice Assurance: Guaranting the quality in all fortunes, even if the Product/Service interruptions even and does non convey in net incomes.

2. Aims of the Survey:

To analyze basic stairss of Strategic Management procedure

To analyze how Strategic Management Processes, enabled an Indian based Airlines became World Renowned Airlines

How, in malice of stiff competition, Pilots ‘ work stoppage etc. Jet Airlines could last and got applauded in about in all direction maps, all over the World

How Strategic Management Processes were adopted by this company consistently and how these benefitted the company in each Functional country.

3. Basic Stairss of Strategic Management Procedure:

Declaring Mission Statement of the Company, based on which Vision, Objectives and Goals are to be set.

External Environmental Analysis

Internal Environmental Analysis

Puting up Organizational Direction and Revision if needed

Formulation of Alternative Strategies and choosing the best Scheme

Execution of selected scheme

Evaluation and control of the Implemented Strategy

4. Get downing Point of Strategic Management Process is declaring MISSION STATEMENT which is nil but declaration of the Organization ‘s grounds for its CREATION. Vision, Mission and Aims are to be set to do the Mission Statement a Reality.

4.1. Vision: An Organizational Vision is its Power to concentrate the corporate energy of Insiders and to give Foreigners a better thought of what the Organization truly is!

4.2 Aims: These are terminals towards which activity is aimed. Numbers of Aims are required for achievement of Mission of an Organization.

4.3. Goals: These are precise and expressed in clear and specific footings which are derived from aims

5. External Environmental Analysis ( Opportunity-Threat Analysis ) : External Environment Analysis reveals chances provided and menaces posed by the environment ( eg. Low per capita Income in India creates demand for low priced merchandises which factor is a menace for high priced merchandises ) External environment is governed by Social, Technical, Economic, Political, Inter National and National factors.

6 Internal Environmental Analysis ( Strength-Weakness Analysis )

Internal Environmental factors include functional countries, Organizational resources, Organizational construction and stock holders. Analysis of these factors reveal company ‘s strengths and failings.

Before traveling in to inside informations of organisational way, Formulation of schemes, choice and execution of best schemes, rating and control of the selected schemes ( which are the basicss of Strategic Management Process ) , we shall see the background of Indian based Airlines called “ Jet Airways ” which adopted Strategic Management Processes for the behavior of its concern ( Service Industry )

7. A little Beginning of ‘Jet Airways ‘ :

Naresh Goyal through his bing company called ‘Tailwinds ‘ , holding 10,000 employees ( Jet ‘s parent company ) owned Jet Air ( P ) Ltd, which provided gross revenues and selling for foreign air hoses in India. Under Air Corporation Act 1953, all major Indian Air Transport Providers were Nationalized and therefore, Indian Airlines enjoyed a monopoly in the domestic sector boulder clay 1993. Meanwhile, Jet Air ( P ) Ltd was registered as ‘Jet Airways ‘ , as an Air Taxi operator during April 1992, therefore Jet Airways started ‘Indian Commercial Airline ‘ operations after a twelvemonth, with four leased Boeing 737 Aircrafts. In Jan’94, ‘Air Corporation Act 1953 ‘ was repealed and the changed Enactment, enabled Jet Airways to acquire ‘Scheduled Airline ‘ position in January 1995. As the following stage it began its International operations to Srilanka in March 2004. This became a listed company in Bombay Stock Exchange and 80 % of its stock is controlled by Naresh Goyal, who setup Jet Airways as a full ‘Service Scheduled Airline ‘ to vie with State owned Indian Airlines. Jet Airways is an Airline based in Mumbai and became India ‘s 2nd largest Airline after Air India.

8. Mission Statement: As explained above ‘Tailwinds ‘ Which had an employee strength of 10,000, owned by Naresh Goyal, owned besides Jet air ( Private ) Ltd. Gross saless and Marketing for foreign Airlines in India was provided by Jet air ( Private ) Ltd, wanted to setup, Jet Airways as a full – service scheduled air hose to vie against ‘State owned Indian Airlines ‘ , which enjoyed a monopoly in Domestic market since 1953. This must hold been the VISION of Naresh Goyal to transport out which, he made a MISSION STATEMENT incorporating a set of following Aims:

Jet Airways will be the most preferable domestic air hose in India. It will be an automatic first pick bearer for the going Public and set criterions which other viing, Airlines will seek to fit.

Jet Airways will accomplish this pre high Position by offering high quality of service and dependable, comfy and efficient operations.

Jet Airways will be an Airline traveling to upgrade the construct of domestic Airline Travel, be a universe category domestic Airline.

Jet Airways will accomplish these aims while at the same time guaranting consistent profitableness, accomplishing healthy, long term returns for the investors and supplying its employees with an environment for excellence and growing.

9.External Environmental Analysis:

Under Air Corporations Act ( 1953 ) , when all major Indian air Transport Service suppliers were Nationalized Jet Airways ( P ) Ltd, availing the menace, fortified its Gross saless and Marketing for foreign Airlines and construct up its relation with Airlines universe over and were looking for a right minute to take off in a large manner. When, Air corporations Act ( 1953 ) was repealed in January ‘ 94, it jumped into the sphere as an ‘Airline Operator ‘ and emerged as a stiff rival, to Indian Airlines which was basking monopoly in Domestic Air Transport Sector from 1953 – 1994. By offering, dependable, comfy, efficient and high quality services JA proved to be the Market leader in Indian Aviation Domestic Sector.

To add to the already bing 84 aircrafts, JA is looking frontward to have the 44 province of Art Air Crafts, for which it has released Orders. Latest of this shall be Boeing 787-8, bringing of which ( 10 ) planes shall get down from 2013.Thus, Jet Airways, can be seen taking all out attempts, to stay immature, systematically for giving best comfort and benefits of emerging proficient excellence to its clients. Besides being market leader in domestic sector, it operates over 400 day-to-day flights to 65 worldwide finishs In September 2008, Jet Airlines was voted as universe ‘s 7th best air hose over all. As of Sep2009, mean age of Jet Airways ‘ Fleet was 4.8 old ages merely, which assures dependability, promptness and safety, to its commuters and puts it at a better footage when compared to flush its Global Competitors.

Jet Airways had been given: I ) a 3 star evaluation by Sky Trax, two ) awarded ‘Full Service Airline ‘ by 2006 Galilao Express Travel universe for 6th twelvemonth in array, three ) ‘India ‘s Airline ‘ at the World Travel awards 2006, four ) ‘Best Technical Dispatch Reliability ‘ award by Beaver 2002, V ) ‘Best Domestic Airline ‘ award for 5th clip in the past two old ages at the 18th TTG ( Travel Trade Gazette ) Travel Awards 2007 – These awards won by ‘Jet Airways ‘ base cogent evidence to its proficient excellence and the concern it has towards the society ( Social Responsibility )

10.National and International factors:

Jet Airways maintained good affair with National and International Interests / Authorities, its selling understandings with Airlines like: Air France, Australian Airlines, Cathey Pacific, Dragon air, Emirates, Golfer, KLM, Lufthansa, North West Airlines South African Airways, South Inter National Airlines, Turkeys Airlines, United Airlines and its codification portion understandings with the above air hoses are the authoritative illustrations of how, good Jet Airways is sound in National and International factors. Such strategic Stairss enabled Jet Airways, get International sofas at Brussels and Newark in US

Political Factors: Jet Airways laid off some of its employees, ensuing in the largest ballad off in the history of Indian Aviation in 2008. As a happenstance, this took topographic point, a twenty-four hours after Jet Airlines struck a strategic confederation with King Fisher Airlines to cut down costs and better operational efficiency. The air hoses decided to put off 800 employees, who have non been confirmed and will cut a across Departments like cabin crew, pilots, land staff and Airport Services Management. Most of these employees were in the company for less than Six months. This is after voluntary separation of 700 overly found employees of Air Sahara, while geting and organizing Jetlite. JA said it had reduced provisional and impermanent workers as it planned to cut flights by about 15 % as economic viability of be industry has been badly affected by record high fuel monetary values due to planetary thaw down and decreased traffic. JA had gone to the extent of retreating from the esteemed US Route. Jet air passages said, occupation cuts were due to market conditions. One of the Ex-jet employees said: ‘Organization had recruited people in big graduated table for is enlargement in International sectors. However due to economic scenario universe broad, enlargement program was postponed, so evidently the extra adult male power, most of whom where impermanent or on probation had to be dropped which was non unethical ‘ . However when civil Aviation Minister, Praful Patel intervened and did the negotiatory function and appealed for an amicable colony so as non to throw workingmans, out of employment, nevertheless less their employments period was, Jet Airways bowed and asked all of retrenched employees to return back to work, which exhibits the political will of Goyal and undertakings him as a Rational Entrepreneur.

Internal Environmental Analysis: ( Strength and Weakness Analysis )

Functional Areas that govern Internal Environment of an organisation like Jet Airways are ( one ) Personnel ( two ) Commercial ( three ) Finance ( four ) Discipline of employees ( V ) client satisfaction ( six ) Optimal usage of Resources ( seven ) Passenger Safety.

Personnel Function starts from Recruitment of right employees for right occupations, developing them, be aftering their calling growing & A ; equal compensation, motive, guaranting that they discharge their responsibilities efficaciously and expeditiously to fullest satisfaction of the clients, proviso of services without snag and hold, guaranting rider safety and coincident care of subject and dedication of employees.

As Jet Airways, emanated from Jet Air ( private ) Ltd, whose parent company was, ‘Tailwinds ‘ owned by Naresh Goyal, which had 10000 employees and was really much a company, that provided gross revenues and selling for foreign air hoses in India, enrolling right employees, developing them, be aftering for their calling chances, compensation, motive, offering best client service through good motivated employees etc are non newer undertakings to them. That is why Jet Airways was able to procure undermentioned awards:

park, Nice client service by Freddie award 2007

Best Bonus Promotion by Freddie Market Awards 2005

India ‘s Popular Domestic Airline by the SATTE 2006 Awards

Customer and Brand Loyalty Award in the Commercial Airlines Sector ( Domestic )

Service Excellence Awards at Global Managers in Jurassic Park, Sudan

Commercial viability has been ever the Priority of Jet Airways, without compromising Passenger comfort and rider safety and therefore one of Jet Airway ‘s mission statements in accomplishing healthy, long term returns for the Investors and supplying its employees with an environment for excellence and growing was fulfilled.

11. Economic Measures Adopted To Improve Profitableness:

In order to get at Economic Operations, JA joined custodies with its challenger King Fisher Air Lines, and struck an confederation which chiefly included an understanding on codification sharing on both domestic and International flights, Joint fuel Management, to cut down disbursals, common land handling, joint use of crew and path rationalisation which is a authoritative illustration for a strategic determination.

11.2 Optimal usage of Resources: In 2008, Jet Airways bought AIR SAHARA and renamed it as JETLITE which was marketed between a low cost bearer and a full Service Airline. In May 2009, Alternatively of spread outing Jetlite web, sing the regulation holds, in reassigning aircrafts from JA to Jet lite, it launched another low cost air hose, Jet Air Connect which used the trim aircrafts from JA ‘s paths that were discontinued due to low Occupancy. Thus, otherwise underutilized, Air Crafts were used to supply domestic services at low cost with same comfort with coincident use of the underutilized, efficaciously. This is yet another Strategic Decision ( Sky Trax Consumer Airlines, reviewed this Economic category as a 3 star merchandise. )

11.3 As another economic step, wherever possible, JA dry leased sophisticated Air Crafts, taking at rider comfort at the same clip, non puting immense amounts of money. To mention, to get down with JA operated a assorted fleet of ain and Boeing and Air Bus type of Air trades and of the entire 84 air trades operated 14 latest aircrafts were leased from South African Airways This is correspondent to ‘buy or do ‘ determination, which is yet another Strategic step JA adopted

12. Discipline of Employees:

Though Employees of JA are strongly motivated, adequately paid, trained from clip to clip to get latest tendencies and accomplishments maintaining gait with Global Trend, there are apt to be dissensions between individuals on more than one issue. Management Scientist Peter Drucker says ‘man is a desiring Animal and his demands maintain on altering ‘

Hierarchy Need Theory of Maslow, prioritizes the demands of Human existences as:

Physiological

Social Security

Self Esteem

Social Esteem

Self Actualization

Employee motive of any organisation should be designed to fit the hierarchy degree, Maslow indicates at which the employees are, and if the employees think, it is much less than what they deserve for, state of affairs ever consequences in a struggle. Such a struggle, ever leads the Organization being thrown out of cogwheel, doing serious losingss besides doing irreparable amendss to the Image of the Organization and serious disruptions to the clients. However, when subject of an Organization is at interest because some or many of the employees, which is likely to do farther impairment to its involvement and hurt to the loyal work force, even to the full cognizing good about the effects, any Management is to travel in front with certain steadfast disciplinary proceeding.

Again, McGregor ‘s Hot range Theory on disciplinary system says: Disciplinary system should be like a ‘Hot Stove ‘ giving a warning signal that, it shall ache, if anybody plays with it and will be indifferent, as to who plays with it but will ache whoever fouls with it, to the extent the foul drama is.

This should be why, JA dismissed Two of its Senior Pilots who were instrumental in get downing a Cockpit Union called “ National Aviators ‘ Guild ” in which 650 out of 1000 pilots of JA were members. While the President of the Guild stated that he had issued 14 yearss ‘ notice to JA, the direction said it had been in compromising negotiations with Union and Regional Labour Commissioner and warned that any work stoppage during this period would be deemed illegal as per Industrial Dispute Act. However, 400 pilots of the ‘Guild ‘ failed to describe for responsibility under false stalking-horse of ‘sickness ‘ and JA was constrained to call off 800 flights and had to loss 8 million US $ /Day.

While Lufthansa pilots struck work in the twelvemonth 2000, demanding more wage doing a loss of 50 million Markss ( 1mark=Rs 30/- ) in the twelvemonth 2000. German Employees Union ( DAG ) , which once represented pilots besides, strongly condemned action of the pilots and said if the pilots were to win, it would be of the disbursal of remainder of staff ( 50,000 individuals ) of Lufthansa. It even organized, interrupting attempts, by directing several Hundreds of the employees protest against pilots ‘ work stoppage.

German media besides presented the pilots as privileged and pampered employees, gaining on an norm, 100s of 1000 Markss. While Germany ‘s Giant Unions like Verdie ( to which is attached DAG ) , media, direction of Lufthansa, could non hold its top ranking pilots go on a work stoppage that ended with in five yearss, how can one anticipate JA to clasp against the back door work stoppage ( mass sick leave pilots and co pilots ) .Even while compromising proceedings were under advancement, JA pilots ‘ simulated act which amounted to an illegal work stoppage of a Essential Public Utility which is covered under Essential Services Maintenance Act, which may even take to straight-out dismissal of striking the pilots, if the direction proves to the compromising authorization that the work stoppage was illegal.

Can a state like India afford to face a unit of ammunition the clock work stoppage by Doctors, or can be Govt afford to allow Police and Defence to organize Trade Unions? If there be a demand, as a friendly gesture, Management can allow the pilots to organize an association instead than organizing a activist brotherhood, go forthing the riders and Industry to stagger.

In instance of Government owned Bus Transport Companies, if there be a work stoppage, that shall be the work stoppage by the workers and get downing from the Supervisors, Directors, GM and MD shall be on unit of ammunition the clock responsibility and run the coachs with insouciant labor and loyal Trade Unions, so that 100s of hundred thousand of people do non endure. Under such state of affairs, Naresh Goyal ‘s house stand off against the provokers, conforms to “ Hot range theory ” and eventually NAG had to with pull the work stoppage, while the direction coped with the state of affairs for five yearss, though it caused cancellation of 800 flights, at the same time set uping alternate adjustment to its clients through other Air lines. In fact, the illegal work stoppage resulted into a loss of 8mUS $ /Day, but, the direction stood by its rules or else it could non hold won ‘Best fillip publicity by Freddie Mercury awards 2005, other such Industrial relation awards, best client service awards ‘ etc.

13. Customer Satisfaction:

With reaching of its new Boeing 777 – 300 ER and Air Bus A330-200 air trade, Jet Airways introduced a new cabin with up ranked seats in all categories. Boeing 777-300 ER air trade has three categories of services viz foremost, concern and economic system Classes. Air Bus 330-200 aircrafts have concern and economic system categories. JA has a three star rated Business and First category and is in the top 25 concern categories as reviewed by Sky Trax. Economy category is reviewed as a best three star merchandise by sky trax. First category is available on all Boeing 777-300ER aircraft and seats can be converted to to the full level bed, which have an LCD proctor, USB ports etc. JA is the first Indian Air line to offer to the full enclosed suites. Sky Trax consumer air hose referees rated Jet air passages First category as being 14th best in the World.

JA has besides been awarded: I ) Best concern category and best economic system category and the concern traveller awards two ) ‘India ‘s most well-thought-of company in the travel and nutrient sector ‘ three ) ‘Customer and trade name trueness award ‘ in the commercial ( domestic ) air hoses sector four ) ‘Nice client service Airline by Freddie awards 2007 ‘ .

14. Passenger Safety:

By and large care of the aircraft is good both in visual aspect and public presentation. No serious proficient snags have been reported. During June 2007 Jet Airways Flight 3307, winging on the Bhopal-Indore path was involved in an accident caused by storm. However, 45 riders and 4 crew on board miraculously escaped though the aircraft was damaged beyond fixs. Jet Airways is holding a younger fleet, uses to show in newer engineerings, updates edification and dedicated squad of applied scientists and technicians, who are guaranting first-class care and snag free and safe operations of the fleet.

15. Corporate Identity:

JA ‘s current livery introduced in 2007, retained the dark blue, and gold accented colour strategy of Jet Airways old corporate Identity along with air hose ‘s “ Flying Sun ” logo. The new livery, created with Lander Associate, added the Yellow card Gold Ribbons. A new Yellow conform was at the same time. JA introduced its new individuality in concurrence with a Global trade name prelaunch with included new Aircraft and seating, which once more is another Marketing Strategy.

JA serves 44 domestic finishs, 22 International finishs in 17 states Asia, Europe North America. Though recession has a drastic pull down consequence in April’08 – March’09 ( half twelvemonth ) , the Airlines appear to hold done systematically good in footings of rider carrying, burden factor, Cargo carrying, Money earned Per km flown etc. As listed in BSE, present JA ‘s portion value is Rs. 860/- .

16. Strategic Management Process In Real Life Situation

At this occasion, we shall once more set to prove whether, the theoretical strategic direction procedure stairss on execution yielded consequences in world and paved manner to JA for successful behavior of its concern:

External Environmental Analysis as explained in this paper has revealed function played by Jet Airways in societal, Technical and Economic Excellence in Political, National and International sectors.

Internal Environmental Analysis revealed skilled, committed, smart and good motivated employees as one of the chief strengths of the JA, which was copiously disclosed by the International awards it got, speedy backdown of ballad off it imposed, fast decision of the work stoppage of its pilots ( through it suffered heavy pecuniary loss ) etc. JA could do up those losingss by equal economic system steps which were non at the cost of convenience and amenitiess to its riders, but through the intelligent logistics it played in instances of exigency and through its capacity optimisation, technological promotions ( through acquired every bit good as borrowed ) etc expressed their strengths. Failings like small labour agitations were handled efficaciously, with tough and at the same clip Parental attitude. Therefore, their strengths were used to invalidate their failings.

17. Corporate Level Strategy

Strategic Alternatives applicable to such a GIANT AIRLINES are called ‘Corporate Level Strategies ‘ which revolve around, whether to go on or alter the Business Enterprise or as to whether Revision of Organizational Direction is needed: Success narrative of JA hither to seen, shows that the organisation is traveling in right way and no alteration appears to be in demand.

Organizational activities which are divided in to strategic subsystems that have a set of services, rivals, schemes are formulated for each subsystem consistent with corporate degree schemes. Strategic Business Unit degree schemes were designed by JA on merchandise distinction ( client groups, client demands, Technologies ) , market sections, distinguishable competences, generic schemes concentrating on low cost leading.

Decision:

Above success narrative of an Indian based Air lines, the Jet Airways stands to turn out strategic direction techniques, if decently and seasonably used with a strong will, far making vision, a baronial mission with great finding shall take to success in all termss. A province of the Art aircrafts ( universe category ) being used by “ Jet air passages ” propagate successful usage of Strategic Management Processes with finding and direction excellence, World over. Of class there had been blue booby traps, which may be a incorrect anticipation of forces section for illustration, which may hold taken impermanent staff in surplus and trained them for some clip, anticipating big scale enlargement of concern in reverse to which the Management, could non because, of the Global Recession. This could non be taken as an index of short coming of “ Strategic Management Process ” , as even major market participants like amazon.com lost one million millions, by incorrect provender back given by their retail merchants who wrongly predicted that, it will be a roar for electronic goods in the new millenary which ne’er happened. Lesson is: A determination or a anticipation based on a tendency, need non be a “ Panacea ” for all investing semen enlargement plans, as behaviour of any industry is dependent of many complex variables.

Cardinal words: strategic Management procedure, McGregor ‘s Hot range Theory, Strike, Corporate Level scheme, DAG, Pilots, Jet Airways, Marketing scheme, Guild.