Finance in the Hospitality Industry Assignment Example | Topics and Well Written Essays - 3250 words

Finance in the Hospitality Industry - Assignment Example It is worth mentioning in this regards that the borrowing percentage depends on the size of the industry. For instance, small-scale hospitality players, such as Queens Hotel London often borrow funds from whereas medium-sized hospitality organizations are observed to source funds from the small investment bodies, as to continue with their business processes (Hsyndicate, 2014). Â  As already discussed above, there can be various methods through which, income can be generated within a business or service operation. However, the levels of the contribution made by these income generation sources might vary to a substantial extent. For instance, in case a hotel plans to purchase laundry equipment from an electronics equipment manufacturer, on behalf of the contract made, the laundry equipment manufacturer can charge the hotel either in terms of full payment or in terms of credit purchase. The contribution of both these methods in this context can be justified with reference to the fact that if the purchase can be completed through credit, the financial burden on the hotel is also quite likely to curve down or to get reduced to a substantial extent, in the short-run. However, this will increase the liability of the organization and likewise, may not prove to be a good source of funding in the long run. Nevertheless, through the credit sales opportunity, the hot el and the equipment manufacturer will also get the opportunity of establishing the long-run business relationship with each other. Given the goodwill of the hotel on the basis of its regularity to pay back the credited amount this relationship may yield significant advantages to aid the financial needs of the organization further adding to its financial health. Thus, the purchase technique can also be recognized as a major contributor to generating income for both the business bodies.

Abstraction Reaction Assignment Example | Topics and Well Written Essays - 250 words - 1

Abstraction Reaction - Assignment Example My expectation changed throughout the project because I gathered confidence as I progressed with the activity. Initially, I doubted I whether I could make a rational sketch without looking at the paper. However, I was surprised of the sketch that I produced after the project because the figure was excellent. Interestingly, I realized that I positioned some of the components of my subject accurately in my sketch. Abstract sketches promote creativity because they provide the artist with the opportunity of employing a diverse range of expressions. This is because abstract sketches should not necessarily represent reality. Moreover, abstract sketches are more personal because they provide a person with an approach of seeing more into a specific artist’s psyche (Cramer 28). I liked the experience after realizing a wonderful collage that I was able to make after the project. The project provided me with good experience that developed my skills. I was conscious about my original subject throughout my sketching activity. For example, I utilized information from my source material when designing an outline of my work. This included using the material in determining the size, and the appropriate color to apply at each section of my work. My expectations increased as I progressed with the project. This is because successful completion of each activity motivated me into working more on the piece in order to make it better. This because I realized I had the potential of producing a masterpiece as I progressed with the project. In abstract sketches, artists can describe all values and concepts that they have about the world in a single sketch. Furthermore, abstract sketches are visually powerful because they combine many aspects of art including color, texture, composition and

Working Environment of Lloyds TSB

Working Environment of Lloyds TSB Introduction: Lloyds TSB group is the UK‘s biggest organisation. More than 66000 are working for this organisation in UK and in 27 countries around the globe. The business serves around 16 million customers operating in a range of financial markets, including personal and private banking, corporate banking, insurance and mortgages. Lloyds TSB is working globally and competes within rapidly changing markets for the delivery of financial services to personal and business customers. Customers expect a high range of services to be available 24 hours a day and delivered with first class customers service. In order t remain top in this demanding market, Lloyds TSB has acquired the services of innovative human resource management policies to ensure Lloyds TSB is a great place to work and that its staff are happy, motivated and committed to give highest levels of performance to the organisation and its customers. In 1998, the Group conducted reseach with employees, which showed that one of their main concerns was being able to balance a demanding job with outside commitments, such as family life, hobbies and leisure activities. This led to the Group designing and introducing a unique flexible working policy, called Work Options one year later. This gave a chance to workers to structure their working arrangements in a way that helps them to achieve a better Work Life Balance. According to this policy all staff has got the right to request a different working pattern form standard 9.00 am to 5.00 pm. Lloyds TSB is widely recognised as one of the best employers for providing flexibility for its staff. Because of this positive and flexible approach, Lloyds TSB is able to attract, appoint, motivate and retain the best staff available, which in turn keeps customers happy and keeps the organisation at top of the financial services field. The Changing Work Environment Lloyds TSB has always given importance to change in work environment and this proves the key to drive the bank out from the crises Lloyds TSB has rejected the traditional. Work routine of the 20th century. Lloyds TSB has offered flexible work options to all of its staff and put into place it own procedures to allow every member of staff, not just with young children, the right to request to work flexibly. This Lloyds TSB stands out from other employers. By 2010, it is estimated that 85% of the growth in the UK workforce will be women. 62% of the Lloyds TSB workforce is female and around 2,000 staff takes maternity leave each year. Of these, around 87% return to work for the company after their leave. This is an important statistic. In a tightening labour market, business must attract high calibre staff and then retain their services. Lloyds TSBs reputation on flexible working is a very important factor in achieving this. The Business case for Flexibility Flexible working is not merely of benefit to staff but it makes excellent business environment too. Lloyds TSB believes its ability to deal efficiently and effectively with the need for flexibility strengthens its position as an employer of choice and enables the group to deliver levels of service that differentiate Lloyds TSB from its competitors. Customers take advantage by getting to deal with professional, friendly enthusiastic and well knowledgeable persons. In an increasingly competitive market place where retailers, supermarkets and other companies can also offer financial services. Lloyds TSB needs customer service excellence around the clock to stay in competition. Lloyds TSB developed its own flexible approach in 1999 to help attract and retain the best staff. The Group‘s own leaver surveys (questionnaires completed by people leaving the business) showed that flexibility was the main reason for them joining them initially. This is also supported by a national survey which showed that flexible working was a more important factor that pays for graduates in choosing an employer. Employees need motivation and commitment. Research shows that people are more productive and experience less stress when they have control over the hours they work. So flexible working helps Lloyds TSB to gain the long term commitment and motivation of well qualified and experienced staff. It is far more expensive to recruit and train new staff than to retain existing ones. Flexible working generates cost savings too. Traditional work patterns usually involved fixed hours between 9.00 am to 5pm. Work beyond these hours was paid by employers overtime rates like time and half or more driving up staff costs. With the introduction of flexibility, Lloyds TSB has been able to extend staff cover at no added cost. In todays world, people with lifestyles require financial services at any time. Peak customer demand does not follow a traditional 9.00 am to 5pm working day either. For Lloyds TSB flexible arrangements allow employees personal benefits to suit their own lives and deliver a more complete service to customers. So from the above it is clear Lloyds TSB was ahead of the game when it came to introducing flexible working patterns. The Group was aware that economic and social changes meant that people often live complex lives in and out side of work. Far sighted management at Lloyds TSB saw the benefits to the business of recruiting and keeping excellent people, who would be willing to build a career in the Group. The impact of credit crunch on Lloyds TSB The phase means a severe shortage of money or credit and this comes about when banks and other lenders lose confidence and are no longer wiling to lend to each other or to other borrowers. According to report published at Yorkshire Post dated 06 May 2008, Lloyds TSB revealed a further  £387 million hit from the credit crunch but signalled there would be no need for a cash call to investors. In a another report published in Herald Scotland dated 30 July 2008, writes that credit crunch hammers Lloyds TSB as bank profits drop 70 % But Lloyds TSB has worked according to a certain plan faced the situation well. Continuous Improvement and Lloyds TSB Lloyds TSB believes in excellent customers service and smooth and transparent banking. Lloyds TSB has introduced online banking, provided numerous ATM machines to their customers and made the banking relatively easy and convenient. Lloyds TSB and IT transformation Realizing that the effort to improve its IT capabilities would require faster, deeper change than it could manage in-house, Lloyds TSB partnered with Accenture to create an IT competency that aligns IT delivery with the banks strategic priorities. Processes, tools and methodologies were brought closer to best practise, and the skills and experience of IT staff were improved. Lloyds TSB is making significant progress towards creating a high performance IT environment that aligns IT delivery with the banks strategic priorities. The Accenture/ Group IT team is confident that the improving IT initiative will help Lloyds TSB create a high performance business propelled by consistent increase in customer satisfaction and competitive differentiation.

Escalating Professional Athlete Salaries Essay -- Papers Sports Money

Escalating Professional Athlete Salaries Works Cited Not Included In recent years, with the growing popularity of sports, athletes salaries have escalated like that of a superb stock equity. Athletes are taking full advantage of their position, causing the average man to wonder how high will they go. Some feel that athletes are greedy people who have lost care for the true meaning of their salary, the love of the game. Others feel that if a person is able to earn that kind of money, why shouldn't they? Increases in athlete salaries will bring up the question on whether athletes are worth the money by researching the NBA?s new collective bargaining agreement (before and after the approval), by observing the current salaries of top athletes in their respective sports, and by concocting possible solutions. Shaquille O?Neal, formerly of the Orlando Magic, signed almost two years ago with the Los Angeles Lakers for an enormous $120 million over seven seasons.... Alonzo Mourning signed with the Miami Heat for a seven year deal worth about $112 million.... These fat contracts have brought out the question: Are pro athletes worth the millions they are paid? Basketball Hall of Famer David Thompson states, "Players have such a short time to make their money. If you look at others in the entertainment business, you?d think so. Look at Mike Tyson. He made $30 million for the six minutes and 50 seconds i t took for him to knockout Frank Bruno" (Rhodes and Reibstein 44). Zachary M. Jones, an attorney at Howard University in Washington D.C., utters, "Superstar athletes are few in number, so the demand is high, which raises the price for their services significantly" (Saporito 61). Furthermore, Mark Rosen, who has been a spor... ...s worth far more." Certainly a 22 year old kid can live on $126 million quite alright. Before doing an in-depth analysis of pro sports salaries, one ignorant person would conclude that these salaries are way too high. However, sports salaries are "okay" to be enormous. This is because high salaries show that the economy and basketball revenue are up, because that is where the owners get the money to pay the athletes. After Glen Taylor signed upcoming superstar Kevin Garnett, season ticket sales went soaring. Finally, if a player is allowed to make the money, why is it such a bad thing? More power to them. Yet athletes should be satisfied with their current salary status. As you can very well see, salaries have risen to unbearable heights, yet it is inevitable. With the economy as it is who knows when it will begin to level off. All we can do is sit back and watch.

Business studies-intrapreneurship case study Essay

Intrapreneurship Case Study of the Sony Corporation, according to Ken Kutaragi PlayStation Intrapreneur The story of the Intrapreneurial (corporate entrepreneurial) corporate struggles, determination and the ultimate creation of the very successful Sony PlayStation by persistent and driven intrapreneur Ken Kutaragi, who’s international Intrapreneurial Success story has now become one of the most celebrated in business history. Intrapreneurship has been successfully utilized by corporations, partnerships, and non-profit firms in the US, Europe, Asia, and Africa. The underlying concept and idea of Intrapreneurship or Corporate Entrepreneurship had been present in corporations in the United States, Japan, and all around the world, for many decades, even before the term was used in the mid 1980’s in the mainstream media. Howard Edward Haller’s University Master’s Thesis was published back in 1982. Haller’s Thesis was the first academic case study of Int rapreneurship or corporate entrepreneurship. The intrapreneurial success of PR1ME Leasing helped the small growing OTC listed parent corporation (PR1ME Computer) to grow rapidly with strong sales and profits. PR1ME Computer Inc. was OTC listed and becoming NYSE listed n 4 years after launching the very successful Intrapreneurship adventure, PR1ME Leasing. The terms and basic concepts of â€Å"intrapreneur† or â€Å"Intrapreneurship† have existed and been effectively utilized in corporations for decades before the popular media put Intrapreneurship in mainstream media. On February 4, 1985 TIME Magazine’s article, â€Å"Here come the Intrapreneurs† discussed the Intrapreneurial spirit including the creation of Apple, and Saturn within General Motors, as well as Intrapreneurship ventures at AT&T, Data General, DuPont, and Texas Instruments. Steve Jobs, Apple’s Chairman then and now, used the word â€Å"intrapreneurship† in a Newsweek magazine article, September 30, 1985, in which Chairman Job’s shared: â€Å"The Macintosh team was what is commonly known as intrapreneurship-only a few years before the term was coined – a group of people going in essence back to the garage, but in a large company.† Now for the history of successful product creation and international marketing l aunch of Sony intrapreneurial creation, by intrapreneur Ken Kutaragi, of their very success intrapreneur success with PlayStation. Ken Kutaragi, who was educated as an electrical engineer, joined Sony Corporation in Japan in 1975, at the age of 25. Ken Kutaragi was working in the sound labs at Sony  Corporation when he bought his young daughter a Nintendo game console. Ken observed his daughter playing with the new Nintendo game but he was displeased with the quality of the sound of the Nintendo game. Because of his training and experience in electronics Ken concluded that a digital chip, dedicated solely to sound, would significantly improve the quality of the Nintendo gaming system. Because the Sony Corporation was not involved in computer games, Ken Kutaragi negotiated to keep his job at Sony, while working as an outside consultant (entrepreneur) for Nintendo on their computer gaming devices. Ken developed the â€Å"SPC7000† for the next generation of Nintendo games/machines. After Ken’s success as a consultant to Nintendo the senior executives at Sony Corporation threatened to fire him after they discovered his sideline project with Nintendo. Fortunately for Ken, he had the strong support of Norio Ohga, the Chief Executive Officer of Sony Corporation. Chairman Ohga personally recognized the value of Ken’s creativity, entrepreneurial spirit, and innovation, so he encouraged Kutaragi’s efforts. Then with the Sony Corporation CEO’s support (and begrudgingly the rest of Sony’s senior management’s blessing) Kutaragi continued to work as a part-time consultant to Nintendo. Ken successfully developed a CD-ROM-based system for Nintendo. Then in a life changing twist of fate Nintendo elected not to go forward with the CD-ROM system. Ken Kutaragi saw the market and business opportunity of computer gaming systems for Sony. With his Intrapreneurial spirit, Ken pressed hard to convince the Sony Corporation to enter the electronic gaming business. While most of Sony’s senior management did not consider Ken’s computer gaming device more than a toy and not worthwhile for Sony, Chairman Ohga took a major chance and backed Kutaragi’s plan. Ken was persistent and he went on to lead the effort to help Sony develop its own gaming system, which became the blockbuster product success â€Å"PlayStation†. Ken Kutaragi has been often been referred to as â€Å"The Father of the PlayStation,† was well as all related Sony products, including Sony PlayStation 2, Sony PlayStation Portable, and the current Sony PlayStation 3. Ken Kutaragi has the heart and sole of an Intrapreneur or Corporate Entrepreneur. He fought against corporate â€Å"neasayers† within Sony’s management ranks and Ken literally laid his job on the line at Sony to press for the creation of the computer ga ming product within Sony. Ken is created with saying, â€Å"I wanted to prove that even  regular company employees said no, [and] especially regular company employees could build a venture of this scale with superb technology, superb concepts, and superb colleagues.† Sony’s â€Å"System G† 3-D technology, aka Sony PlayStation, was released in 1994. It immediately outsold Nintendo’s Super NES to quickly become the world’s top home-gaming platform. Ken’s group within Sony did not rest on its significant laurels, Kutaragi and Sony took another major financial gamble on PlayStation 2. Sony backed Ken’s corporate entrepreneurial (Intrapreneurial) venture by investing $2.5 billion into the PlayStation start-up, and has gone on to build over 70% of the home-video-game-console international market share. Sony’s PlayStation product line has become the leading video-game platform. The financial payback to Sony has been astronomical. At of the end 1997, Sony’s PlayStation annual sales had grown to $7 Billion, in only first four years of the PlayStation product line existence. Ken’s Intrapreneurial (or corporate entrepreneurial) success has been called one of the greatest new business creations and launches in business history. Since the 1994 PlayStation’s launch, this new Sony product line outperformed both the Sega Enterprises and Nintendo gaming machines. The Sony PlayStation has taken the clear market share of game consoles, with PlayStation sales of more than 70 million units in the late 1990’s. At that time, one in four Unit ed States households owned a Sony PlayStation product. The financial success of the Sony PlayStation was so impressive that by 1998, the PlayStation was providing 40 percent of Sony Corporation’s operating profits. The strong profits from the Sony PlayStation line still accounts for about one quarter of the overall Sony Corporation’s profits. Kutaragi was soon rewarded for his significant success as an intrapreneur within Sony. Ken was promoted to be the Chairman and Chief Executive Officer of Sony Computer Entertainment (SCEI), the video game division of Sony Corporation. As Chairman and CEO, Kutaragi built Sony Computer Entertainment group into a major profit center for the Sony Corporation. In late 1996, Ken was replaced as President of Sony Computer Entertainment and was promoted to Chairman of Sony Computer Entertainment. That was only a temporary situation as Ken retired from that position in 1997 and became the honorary Chairman of SCEI. Who are the main characters? What are the issues? What are the lessons learn from this CASE?

Competitive advantage in the airline industry Essay

The airline industry has grown tremendously over the last few years. In the past, there were very few airlines operating across the world. However, today there is a great development in the industry. The growth of the airline market has led to a lot of competition amongst the stakeholders. The development of an effective strategy is believed to be the only solution to overcome this competition. The success of any airline currently is dependent on the suitability of the adopted strategy. A good example is the Emirates Airline which has recorded the highest growth rate over the other airlines in the world. The growth of Emirates Airline has caught the concern of the other competitors in the airline industry. The secret behind the success is linked with the form of strategies it has employed over past few years. For example, Emirates Airline has the best marketing strategy that has led to strong brand awareness worldwide. The organization has continued to market itself by offering cheap air ticket to its customers. The use of corporate social responsibility has also been attributed to its success. The airline has been concerned with sponsorship of many sports activities and other activities which concern the society as a means of marketing itself to the potential customers. The leadership mechanism and its services to its client are very important for its success. Emirate Airline would not succeed without the right leadership. Strong managerial skill is very important for the success of any organization. This is because for an organization to make fulfill its objectives, it has to rely on its employees. If an organization can retain employees, that organization can attain competitive advantage over its rivals in the industry. The staffs at Emirate airline are very influential, therefore attracting more customers. The management is responsible for formulating policies that are going to guide the organization to achieve its mission and vision. The management is responsible for managing the human resources together with other resources of the organization to ensure optimal utilization of scarce resources. The human capital is very important for the success of any organization. Therefore, they must be treated very well and with the dignity they deserve. Resource should be utilized efficiently to avoid wastage. The leadership factor can be seen as the contributing to the success of Emirate Airline. The reason to the Emirates success has been the continuity of its management team. The top management of the company is a group of the most talented executive with a proven track record in their respective fields of expertise. Under the leadership of the current chief executive; Emirates Airline has grown from a regional to an international market, which started with leasing aircraft that operated in only three destinations. Today, Emirates is an international airline with a fleet of more than 100 aircrafts with destinations all over the world. In addition, it has the fastest, growing intercontinental carrier (Ahmed, 2012). The marketing strategy is another contributing factor to the success of this airline. For example on their website there is a picture of famous footballer Cristiano waiting to board, implying that means the airline is the best choice for celebrities. This is another way which enables the airline to gain competitive advantage. Different people are swayed differently by such advert. It is worth noting that such adverts sway people’s believes, making it possible for the airline to acquire more customers. Its competitors have been worried by the latest growth being witnessed. The marketing plan of the organization is very important for the future business of the entity. This plan is responsible for selling out the company products and services. If the strategy is effective, it will lead to an influx of more customers day by day. The marketing plan used by Emirates Airline is very comprehensive to ensure that the market is captured well. The first strategy is to analyze the working environment. The analyses would help the organization to understand the external and internal factors that influence the activities of the entity. The external factors are the factors outside the organization. Therefore, the organization does not have control over them. Internal factors, on the other hand are those factors within the organization that it can control. The location of the airline provides it with some unique feature. Emirates Airline has its operations in Dubai city. The culture of the people at that city influences the functioning of the airline. The city has a large population providing the airline with a lot of passengers and cargo services. The culture of Dubai city is open which makes it easy to connect to different parts of the world. As a marketing strategy it is important to understand the culture where the business is operating. Before the commencement of any air travel, negotiation agreement has to be signed between different countries. There are rules and regulation which govern the aviation facility and the operation of the airline. Emirate Airline enjoys unprotected market. The implementation of open sky policy has helped the airline to increase business and change into a carrier. This is one of the factors which have helped it to be much competitive over the other airlines in the airline industry. When the rules and regulation in the industry are favorable, it promotes growth and sustainability. Emirates Airline has been able to take full advantage of functioning in the international market, therefore, connection to more destinations. The economic strategy is another aspect that helps the organization to be more competitive in the market. The economic condition has a great impact in the airline industry. For instance, the growth of the Emirate Airline has taken place in Dubai, a town widely known for its economic viability. The airline has chosen a strong and powerful economy, therefore being able to compete fairly with other airlines in the industry (Saxena & Gupta, 2012). At times, it faces economic challenges which lead to a reduced number of passengers. During these times Emirates Airline has to alter its economic strategy to cope with economic crisis. Proper policy will help cut down cost to avoid wastage. A low cost strategy will help the airline to compete with other rival airline. There has been great advancement in technology, which has resulted to success in the airline industry. There is a great need to embrace technology to cut down cost and reduce time wastage. The Emirates Airline has full knowledge about technology and has invested heavily on it. This strategy has helped them improve on their service to customers. The airline understood that a proper utilization of technology would help them gain a competitive advantage over the other airline through provision of best services to the passengers (Desai et.al., 2012) The reputation of an organization plays a great role in determining its market share. For an organization to gain a competitive advantage its brand image is very important. The differentiation strategy of an organization aim at the ability of the airline to provide the best services and valuable product that is relatively rare to find in the other rival airlines. The best customer services, proper utilization of technology, creation of unique products and exceptional features are the main sources of competitive advantage for an airline. Emirates Airline has worked hard to ensure that its reputation in the market is always above the other airlines. The organization values their customers very much. It has received numerous awards for being the best in customer service. The staffs and the customers maintain a very healthy relationship, which lead to the satisfaction of their clients (Cole, 2013). The identification of a market niche is another strategy of maintaining a competitive advantage. This strategy allows an organization to concentrate on a particular part of the market. When an entity concentrates on a particular market segment, it expects maximum return from that segment, and does it best to satisfy the demands of the participants in the market. The method applied here is the low cost strategy, which means that the organization incurs the list cost while generating more revenue. If the airline concentrates on a specific market gap it will be able to minimize on the cost incurred when operations are diversified (Roy, 2012). For example, Emirates Airline has concentrated its operation airlifting of customers and cargo services. The activity has helped the Airline to concentrate on service delivery to the customers. In addition, the airline has been able to reduce fare charges, making them cheaper than those of other airlines in the industry. The lowest fare for air tra nsport has enabled the airline to win the loyalty of customers, thus strengthening its brand image. Despite high competition in the airline industry Emirates Airline has continued to maintain the lowest price for a number of years (Barbajee, 2013). For an organization to be competitive in the industry it has to formulate the competitive strategies. The development in technology, economic growth and globalization are some of the reasons why many airlines have been coming up in the recent past. When competition is increasing day by day, it becomes important for the airline to use a mix of strategies so that it can face competition. The Emirates Airline is now a known brand. For a company to remain competitive it keeps on changing its strategies in order to keep up to the competition in the airline industry (Startton, 2012). If a company has shown consistency is service delivery following factors which are known with certainty, the company can be said to have a competitive advantage. The positioning of any organization in the market is determined by its customers. The customers to the Emirates Airline are the passengers who use the airline for travelling. The customers have test for different services which are offered by the organization. The information received from the customers is very important for the company future. Proper use of the information obtained from customers can lead to improved services (Squalli, 2014). An organization which values customer information is likely to succeed in its operation. The service delivery to the clients plays a crucial role in building the reputation of the company in the industry. Emirates Airline has been awarded for being the best in customer services over the years (O’Connell, 2011). It is true that for any organization to succeed in its operation; sustainable strategies are very important. The strategy adopted should give the organization more benefits than any other organization in the same industry. The airline industry has a lot of competition all over the world. Investment in infrastructure development can help to reduce competition in a number of ways. Providing the staff with all the required facilities will increase motivation hence they will work hard towards the achievement of the organization’s goals. When the staff is motivated enough, they will be able to serve passengers well. Excellence in delivery of services has a great influence on the priorities of consumers or the passengers (Heracleous & Wirtz, 2012). Emirate Airline has gained a lot of publicity across the world. The company has been able to gain a large portion of the market because of the strategies it has formulated in the past few years. The significant size of the company has also contributed to the competitive advantage of the airline. The company has succeeded in attracting royal customers. Therefore, it has been able to earn profit for many consecutive years. The company is dominated by wealthy shareholders; hence it has gained a competitive edge over its competitors thus emerged as a model firm CITATION Joc12 l 1033 (Wirtz, 2012). From the discussion, it can be noted that for an organization to succeed in a particular industry, it is important position itself in the industry. Proper utilization of distinct qualities can make a company gain a competitive advantage over other organizations. Apart from the strategies formulated by the organization, other management strategies adopted by the organization play a great part in the development of the organization. The strategies which have been formulated and implemented by Emirates Airline have assisted the company to succeed in a competitive market and maintain the top position in the airline industry. The leadership style and the strategies which the company has adopted for many years have enabled the organization to maintain its position despite economic challenges. The adoption of corporate strategy by Emirate Airline has proved to be a solution for the company in the times of economic recession. Every market has its own challenges that affect market players. Th erefore, organizations should prepare in advance for the unforeseen challenges. This strategy is aimed to help the company to stand in every situation. The strategy Emirates Airline has adopted in the past has proved to be the biggest milestone for the organization. References Ahmed, N. (2013). Is Age 60 A Turning Point In Medical Health? Aviation, Space, and Environmental Medicine, 84(4). Banerjee, A. (2013). Emirates airlines-An exploratory study. ZENITH International Journal of Business Economics & Management Research, 3(5), 133-141. Desai, Shohab Sikandar, C. M. Siddique, and Zahi Yaseen. â€Å"Segmentation of Airline Market in the GCC Region: Profiling Business Customers Using Low Cost and Full Service Carriers.† International Conference on Technology and Business Management March. Vol. 24. 2014. BIBLIOGRAPHY Loizos Heracleous, Jochen Wirtz. (2012). Airlines: Achieving Sustainable. Warwick: University of Warwick,. Wirtz, J. (2012). Sustainable Competitive Advantage In Singapore Airlines. Journal of Applied Behavioral Science, 23. Source document