Driving Airline Business Strategies Through Emerging Technology
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Driving Airline Business Strategies through Emerging Technology by Nawal K. Taneja Pdf
In the rapidly evolving airline industry, new technologies play an increasingly critical role in the delivery of real and perceived value in reducing costs, enhancing revenue, and improving customer service and customer safety/security. This book focuses at a senior executive level, examining the key forces affecting the airline business and their potential in terms of short and long-term strategies. The author discusses the role of emerging technology on the airline industry, defined very broadly and including computers, information, databases, aircraft, telecommunications, Internet, wireless, speech recognition, face recognition, etc. His argument is that technology should not only be an enabler of business strategy but crucially the driver of business strategy. The central theme is the vital interaction between technology and business strategy across a wide spectrum of functions - executives sharing their insights of what is needed in terms of revolutions in consumers, technologies, and productivities. What has held airlines back are not so much legacy systems but legacy mindsets, organizational structures and processes, as well as the intelligent selection, investments, and implementation of value-adding technologies. The book is the outcome of the author's own experience while working with a number of airlines and his participation in many discussions with practitioners in the airline and technology firms.
The airline industry is in a state of radical restructuring as its markets and key stakeholders (customers, airline labour and management groups, governments, and the financial community) adjust to the new aviation realities. Airline executives can be forgiven for being overwhelmed by technology proliferation, zestful new paradigm airlines, September 2001, business cycles, Iraq, SARS, and animal diseases. The leadership challenge for all carriers is now to select and execute appropriate business models, thinking both 'inside' and 'outside' the 'box', to turn conventional wisdom upside down to achieve dramatic increases in productivity. Some legacy carriers still need to create an effective strategy for much larger cycles that encompass major discontinuities. Burdened by past decisions, they are forced to fight with one hand tied behind their back to 'convert volume to value', to survive and prosper. Some new airlines have been at the forefront of shaping change, developing a vision of the mass-market, assessing the customer value of their core processes, and using a 'back-to-basics' business approach. Both groups should take a sideways glance at what works in other industries and implement those insights into actions. Some examples featured in this book include: ” Wal-Mart's virtually real time inventory system; ” Target's business model based around a unique customer experience; ” Dell Computers' business model based around direct sales and mass customization; ” Unilever's organizational structure around value creation and value delivery departments; ” Shell International's development of scenarios of alternate futures; ” Harrah's Entertainment's use of information technology to recognize and reward valuable customers; ” The Warehouse's communication system with its suppliers to produce efficiency at both ends for the common benefit of the customer; ” Nissan's cross-functional teams; ” DoCoMo's management of human passion in customers; ” Nike's innovation resulting in 'industry-transforming' products; ” Toyota's 'Construction of Cost Competitiveness for the 21st Century'. Written by an experienced airline business strategist and international in scope, this wide-ranging book identifies challenges and problems, presents comprehensive analyses and suggests some solutions. Key features include: ” a comparison with 14 other business sectors (unique amongst aviation books); ” examples of airlines who have changed their business models; ” a detailed study of branding, including mistakes and critical success factors; ” how to manage risk by transforming supplier relationships; ” plausible scenarios for the future to prepare for major transformation; ” the emerging role of passenger management systems to identify, serve, and retain high value passengers. The author identifies the new realities and the obstacles to change, the need to revitalize product development and renew the customer experience. He deals with public policy and the need to revise supplier relationships, especially with aircraft maintenance providers, and looks at successes and failures in other industries. This is rounded off with a clarion call to governments, labour unions, airports, manufacturers, suppliers and above all airline management, to shake off the past, and to address the challenges and opportunities. His approach is to provide impartial analysis and pragmatic insights into vital enablers of change, potential business models, execution strategy, ways to make stakeholders more influential, wisdom from other businesses, and to present scenarios to make busy executives stop and think. The readership includes the broadest cross-section of practitioners in the global airline and related industries, as well as those affected by the industry and seeking a deeper understanding of it. This includes including airlines, government civil aviation departments, the aviation divisions of the financial community (investment banks and leasing companies), aircraft manufacturers and their suppliers, airports, information technology companies, as well as customers and other stakeholders.
Strategic Airline Retailing and Solutions by Nawal K. Taneja Pdf
While airlines have been looking into the next generation of retailing practices for several years, developments since the beginning of 2020 have accelerated the need to take retailing to a new paradigm. A singular focus now is the ever-changing demands of the current and next generation of customers and employees and managing their values. Examples of customer needs include a mobile-first approach, rich content, augmented and personalized end-to-end services with seamless, consistent, and contextualized experiences. While these concepts of retailing are not new, the challenge has been in bringing them to reality due to (a) the constraints of legacy systems and processes while transitioning to next-generation retailing systems, (b) the inaccessibility of real-time data coming from a wide variety of sources such as online shopping, social media, and operations, (c) the inability to monitor real-time behavior of customers and employees, (d) the lack of effective collaboration and cooperation within the travel ecosystem, and (e) the increasing lack of trust on the part of customers. This book provides a framework and technologies to convert retailing concepts—from shopping to fulfillment—into reality by (a) renovating an airline’s core and ancillary products, (b) progressing faster on digital and organizational transformation journeys to make better data-based decisions about retailing, (c) getting better at managing customer value by knowing who the customers are, (d) empowering, supporting, and listening to employees to meet their expectations, (e) asking the right questions to solve complex retailing problems relating to customers, competitors, and stakeholders, and (f) questioning common-held beliefs about the airline business. This book is indispensable for all airline executives and senior managers, as well as airline and airport commercial managers. It will also be enormously beneficial for retailers dealing with airlines and airports.
The Passenger Has Gone Digital and Mobile by Nawal K. Taneja Pdf
Technology is changing expectations in the airline industry. Passengers want to be in control, and they expect airlines to become solution providers and aggregators of value, to provide them with personalized services. Airline employees expect to be given the tools to do their jobs and to meet passenger expectations. Airline executives expect to make returns that are reasonable and relatively stable through business cycles. All of these expectations can be met by airlines through the effective and efficient leveraging of information and technology, to shift from being operations- and product-centric to becoming customer-centric and dramatically improving the overall passenger travel experience throughout the travel cycle. In this new book by world-renowned airline expert Nawal K. Taneja, the 7th in a series with Ashgate, the author explores and explains the game-changing opportunities presented to the industry by new-generation information and technology. He shows how information and technology can now drive, not just enable, an airline's strategy to become truly customer-centric at a personalized level, while at the same time enabling the operator to reduce costs, enhance revenues, reduce risks and become much more flexible and agile by better managing complexity.
This book provides a flight plan for riding the impending connectivity transformation curve. It takes the perspective of actionability, highlighting initiatives that executives in airlines and related businesses can use from the insights of multi-industry executives. The emphasis is on execution, not on the concepts themselves. There is a cluster of at least four distinct megatrends that may converge to form disruptive conditions: (1) elevated expectations of existing and new customer segmentations, those who expect available and accessible air mass transportation systems, and those who expect connected services and seamless travel on different modes of transportation; (2) new emerging technology, incorporated in the air and ground vehicles, that will create new opportunities for existing and new service providers to offer new value propositions; (3) platforms developed around the ecosystem of customers; and (4) the impact on travel that the fast-changing demographic and economic characteristics of two major countries: India and China. These megatrends could lead existing or new businesses to create value propositions specifically dedicated to the new segments once each reaches a critical mass. Drawing on the author’s own experience in the airline industry and related businesses, this book discusses the "how", relating to reimagining the business, re-entrepreneuring the organization, innovating through partnerships, reengaging with customers and employees, and rebranding the business in response to these trends. This book is recommended reading for all senior-level practitioners of airlines and related businesses worldwide.
Flying Ahead of the Airplane by Nawal K. Taneja Pdf
Airlines willing to develop insight from foresight relating to the expected ’step phase changes’ will eventually improve their margins. However, the backward-looking airline, managed using old strategic levers and short-term metrics, will cease to exist, merge, shrink, become more dependent on government support, or become irrelevant. ’Management innovations’ are not going to deliver the required improvements; innovation within management is essential for airlines' survival. In Flying Ahead of the Airplane, Nawal Taneja analyzes global changes and thought-provoking scenarios to help airline executives adjust and adapt to the chaotic world. Drawing on his experience of real airline situations worldwide, the author concludes that there is a gulf between what executives are doing now and what they need to do to stay ahead of the curve. To close this gap, the author suggests that airline executives focus on just three relevant initiatives: a) aligning business and technology strategies, b) redesigning organization structures to centralize the role of the scheduling function, and c) developing relevant brands that integrate social networking technology. To support this third initiative, the book provides insights on branding from 20 fascinating non-aviation case studies from around the world. Flying Ahead of the Airplane will assist practitioners in airlines of every size to integrate future trends into their mainstream thinking and launch flexible business models to manage risk and compete effectively in the ’flattening world’.
Many business sectors have been, and are being, forced to compete with new competitors-disrupters of some sort-who have found new ways to create and deliver new value for customers often through the use of technology that is coupled with a new underlying production or business model, and/or a broad array of partners, including, in some cases, customers themselves. Think about the disruption created by Apple by the introduction of the iPod and iTunes, and by Netflix within the entertainment sectors using partners within the ecosystem; think of Uber that didn’t build an app around the taxi business but rather built a mobility business around the app to improve customer experience. Airline Industry considers whether the airline industry is poised for disruptive innovations from inside or outside of the industry. Although airlines have a long history of continuous improvements and innovation, few of their innovations can be classified as disruptive innovations. The few disruptive innovations that did emerge were facilitated, for example by new technology (jet aircraft) and government policy (deregulation). Now there are new forces in play-customers who expect to receive products that are more personalized and experience-based throughout the entire journey, new customer interfaces (via social media), advanced information systems and analytics, financially powerful airlines based in emerging nations, and the rise of unencumbered entrepreneurs who think differently as well as platform-focused integrators.
Fasten Your Seatbelt: The Passenger is Flying the Plane by Nawal K. Taneja Pdf
Fasten Your Seatbelt: The Passenger is Flying the Plane is the fourth in a series written at the encouragement of practitioners in the global airline industry. Core customers are beginning to seize control of the direction of the industry from airline management. Customers are doing so due to deep dissatisfaction with what is being offered by traditional carriers across all areas, including network, product, price, customer service and the distribution system. New airlines have clearly focused business designs with the discipline to reject non-valued products or services. In the US, new airlines score higher in customer satisfaction, offering lower fares and making larger operating profits. This book is about customer behaviour and how to address it. It provides detailed but easy-to-read practical discussion of the changes required on the part of airline management not only to think boldly, but also to execute courageously and relentlessly, ground-breaking strategies to fly ahead of their customers. As with previous books written by Nawal Taneja, the primary audience continues to be senior level practitioners within the global airline industry - in both traditional carrier and low complexity carrier segments. The approach is impartial, candid and pragmatic, based on what is happening in the actual market place rather than theoretical business models.
Re-platforming the Airline Business by Nawal K. Taneja Pdf
Airline business models continue to be shaped by powerful forces relating to customers, complexities and regulators. However, at the same time, there are emerging technologies that can help airlines cater to the needs of their changing customer bases and manage the complexities of the business. In his previous books, Nawal Taneja has deliberated on these forces and how the airline industry is poised for disruptive change that could come from within or outside of the industry. He also discussed the point that the airline planning systems and process in use are neither contemporary nor sufficiently integrated to meet the changing needs of customers who now are looking for outcomes, not products. In Re-platforming the Airline Business: To Meet Travelers' Total Mobility Needs, Taneja not only reiterates the need for transformation of the airline business but provides a map of the transformational process. This book proposes that different sectors of the aviation industry, particularly airlines and airports, should consider using not just a wide array of technologies (Artificial Intelligence, biometrics, blockchain, and the Internet of Things), but also specifically-designed customer-centric platforms to make informed decisions and to develop and implement transformative strategies to meet travelers’ total mobility needs. These technologies and platforms can enable airlines and airports to achieve scale and scope as well as agility and flexibility (through strategic partnerships) to offer intelligently aggregated travel-related services right now. Subsequently, they will enable various members in the travel chain to provide solutions to travelers’ global mobility requirements, effectively and with better experiences.
The global airline industry, facing significant changes and discontinuity is prompted and forced to deal with a "new normal." Who would have imagined a few years ago that: - a significant percentage of consumers in the US now prefer to fly low-cost airlines instead of full-service airlines because they perceive the product to be better, - airlines would generate up to a third of their total income from non-ticket revenue, - many low-cost airlines would add complexity to their original simple business models through the development of code-share agreements, the use of global distribution systems, and travel agents to distribute their seats, - Jetstar, a low-cost subsidiary of Qantas, would grow faster and be more profitable than its parent, - a survey carried out by Ryanair would show that 42 percent of passengers would be willing to stand on short (one hour) flights if they could pay 50 percent less than seated passengers, - passengers could pay as little as US$2,000 for a transatlantic Business Class ticket on top-brand airlines, - Lufthansa would have ownership in airlines based in Austria, Belgium, Italy, Switzerland, Turkey, the UK, and the US, and that it would continue to pursue equity ownership in airlines based in Poland and Scandinavia, or - the Japanese and Canadian governments would struggle to find different ways to bail out their heretofore flag carriers? To deal with this upcoming "new normal", airlines have to go beyond their short-term circumstantial strategies - they need strategic renewal of their ageing business model. In this candidly-written book, Nawal Taneja explains what will separate the winners from the losers. He maintains the leaders will be the airlines that: (1) exploit this crisis-driven change to their best advantage, (2) learn to work around the airline-inherent constraints that prevent them from running their businesses just like other businesses, (3) learn from successes and failures of other global enterprises, (4) sharpen their business intelligence, analytics, and strategic agility, and (5) proactively explore the "pockets of growth" in this emerging-markets century. To help airline executives become informed of new competitive games, the author analyzes numerous business sectors such as auto, hospitality, retail, technology, and entertainment. For example, relevant lessons can be learned from the strategic mistakes made by the US automakers. Likewise, emergent and compelling insights can be gained in superior customer experience from Ritz Carlton and Zappos, and in value-creating innovation from Cirque du Soleil and Zipcar. The book also features a multitiude of forewords from airlines and related businesses to provide readers with multiple perspectives on the changing landscape in the global airline industry. Nawal Taneja is a career analyst of the global airline industry with wide-ranging experience in the aviation industry, academia, and public policy. Encouraged by industry executives, he has written five other books for practitioners in the global airline industry, including FASTEN YOUR SEATBELT: The Passenger is Flying the Plane and Flying Ahead of the Airplane.
Author : Piotr Łasak Publisher : Cognitione Foundation for the Dissemination of Knowledge and Science Page : 246 pages File Size : 40,5 Mb Release : 2023-11-14 Category : Business & Economics ISBN : 9788396659156
Financial and Non-Financial Determinants of Business Performance: Financial Market and the Real Economy Perspectives by Piotr Łasak Pdf
Running a business today is becoming more complex than two or three decades ago. The world is becoming increasingly open and globalized, and the production processes of goods and provision of services are inscribed in global supply and value-added chains. Large corporations are doing well in such a market, but small and medium-sized enterprises often find it increasingly difficult to function. In addition, apart from the processes exerting pressure on enterprises operating in the real economy, as a result of financial globalization, the scope of financial entities (banks, investment funds, stock exchanges) was also increasing (Knox-Hayes & Wójcik, 2020). However, this is a phase of the past. Currently, not only crossing borders but, above all, far-reaching digitalization and the development of modern technologies set the main direction for the development of enterprises (Florek-Paszkowska et al., 2021). In order to cope with these changes, both individual companies and entire sectors, public administration, and society, as well as national economies, have to make so-called digital transformation (Gajewski et al., 2016). More profound changes are triggered by sustainability, ecology, and human-oriented goals, leading towards industry 5.0. All these processes exert pressure both on big companies as well as on small- and medium-size enterprises. The ongoing changes related to the digitalization process mean not only incorporating modern technologies into existing entities and structures but are much more critical. They are spiritus movens, leading to the transformation of entire sectors of the real economy and the financial markets (Marszk & Lechman, 2021). We can observe the emergence of ecologies and ecosystems (Gancarczyk & Rodil-Marzábal, 2022; Piątkowski & Urbaniec, 2023), mechanisms leading to the development of sharing economies (Szpringer, 2020), as well as the increasing rooting and linking of traditional financial services with services leading to meeting the needs of society. Financial services are embedded in products and become inseparable from these products, and the traditional division into sectors is gradually disappearing. This is possible thanks to the creation of platforms which connect many market participants (Sironi, 2021). In the context of the abovementioned far-reaching processes, many business entities operate according to traditional principles. The key for them are sales, profit and liquidity, which define the crucial financial performance. Among important aspects are also such issues as maintaining the security of business operations and obtaining the desired market indicators in stock companies. For enterprises from developing countries, the basic problem is access to finance, the market, and advanced technologies (Jalil et al., 2022; Łasak, 2022). In developed countries, enterprises also encounter many challenges related to the traditional corporate finance dimension despite a better situation. The current Issue published in the Journal of Entrepreneurship, Management and Innovation (Volume 19, Issue 4, 2023) is aimed at considering the nexus of topics related to the various aspects of the functioning of financial and non-financial enterprises. The main purpose of the articles is to focus on selected problems related to the financial aspects of business activity. The considered problems were presented in the context of contemporary processes taking place in the environment of enterprises. These include, on the one hand, far-reaching digitalization and the use of advanced technologies and, on the other hand, processes belonging to the Environment, Social, and Governance (ESG) area. A description of the situation faced by many enterprises, including financial institutions, undergoing digital transformation is presented in the article written by Łasak and Wyciślak (2023). Digitalization processes not only lead to far-reaching digitization of enterprises and related dilemmas regarding corporate governance but also the transformation of entire sectors of the industry. The banking sector is the best example of this. The question arises what is the pattern of behavior of digital platform partners in the situation of transformation of this sector and platformization of banking services? The paper aims to present the dynamic pattern of behavior among partners stemming from the tensions between governance costs and co-created value within platforms in banking services. The study provides a taxonomy of digital platforms in banking, highlights the values of the most typical platforms, namely blockchain-based and cloud-based platforms, and discusses the potential implications of the platformization of banking services. One of the key contemporary perspectives of business activity is looking through the prism of the need for a responsible and sustainable approach. This is the perspective embodied in the approach referred to by the term ESG. Sustainable business models, considering the ESG principles in the company’s operation, are based on financial and non-financial reasons. The paper written by Zioło, Szaruga, and Spoz (2023) aims to examine the relationship between financial and non-financial factors in enterprises and indicate for which groups of enterprises the relationship of ESG financial performance is most visible in the context of building sustainable business models and the ability to adapt to sustainability. It was found that large enterprises with a solid financial position simultaneously get better non-financial results. In each of the analyzed aspects, large enterprises with an excellent financial standing did better. The conclusion presented by Zioło, Szaruga, and Spoz (2023) does not change the fact that small and medium-sized enterprises play a key role in the economic growth of emerging economies. The paper by Amoa-Gyarteng and Dhliwayo (2023) examines the impact of capital structure and profitability on the short-term solvency of nascent SMSs in Ghana, building on the liability of the newness framework. The study demonstrates that financing decisions and financial performance are crucial mitigating factors for the potential risks of default and failure faced by nascent SMEs. Notably, the study finds that an appropriate balance between debt and equity financing raises the working capital ratio and thus reduces the liability of newness, which is a major challenge faced by nascent SMEs. The analysis also identifies that return on equity (ROE) is a crucial driver of short-term solvency for nascent SMEs. Declining profitability is manifested by a decrease in operating profits and cash flows. The resulting cash flow shortages can cause the company to fall behind on payments and obligations, leading to short-term insolvency, with all the adverse consequences. All these conclusions might be valuable for enterprises in other developing countries. Operational and financial market performance is a crucial determinant not only for SMEs but also for larger companies. Such type of businesses is presented in the paper by Yaşar and Gerede (2023). The article shows how complex are the processes accompanying the functioning of such enterprises as airlines. This paper refers to the competitiveness of such airline companies and the conditions determining their favorable market position and long-term competitive advantage. The market position of such companies is influenced by such factors like firm maturity, its size, financial resources and some technical dimensions (number of flights, fleet homogeneity). This means that despite the processes taking place today, the business performance of such entities as airlines still depends on the classic factors described in the literature of corporate finance. The contemporary opportunities resulting from the dynamic development of information technology contribute to the development of new forms of financing business activity. One such form is crowdfunding. The paper by Nose and Hosomi (2023) is dedicated to the equity crowdfunding (ECF) issue in the Japanese context. The research provides an answer to the question of what makes equity crowdfunding successful. The “Signaling Hypothesis” and “Lack of Financial Literacy Hypothesis” were tested. Despite the research is focusing more on investors’ side, it also sends an important signal to the business considering crowdfunding as a source of funding. The conclusions can be helpful for start-ups planning ECF campaigns in the future. The company’s position on the market may also depend on factors other than financial performance, and recently, it has depended to an increasing extent on environmental, social, and governance performance (defining corporate sustainability performance). In this context very important research thread is the relationship between corporate sustainability performance and stability of dividend payouts. This topic is presented in the paper by Matuszewska-Pierzynka, Mrzygłód, and Pieloch-Babiarz (2023). The research verifies many detailed interdependencies between the ESG performance of an enterprise and the propensity to pay stable dividends to the enterprise. The possibility of financing business activity is determined by the situation in the banking sector. The conditions of financing provided by banks are of particular importance in the case of developing countries, where other forms of raising capital by enterprises are often limited. Shaikh, Tunio, and Dagar (2023) paper discusses the relationship between banks funding liquidity, capital funds and bankers’ lending activity in emerging markets. This research firstly provides insight into the activity of financial companies in emerging markets, and secondly, informs the public, and especially the business, about the lending practices of the banking sector, and in consequence, on the financing opportunities in these economies. These unique studies presented in this Issue enrich our knowledge about contemporary business activity. The papers contribute to understanding the nature of business performance and link corporate finance issues with other, mainly technological and social aspects. Particular attention, however, is paid to the traditional conditions of operation and financing of enterprises. At the same time, however, efforts were made to combine new business conditions, including digitization. The issues raised also concern processes ensuring sustainable development. We want to express the hope that the papers presented here will be of interest to readers, scholars, and researchers worldwide. They provide theoretical concepts, and quantitative analyses, and indicate pathways for further research. Many of the presented areas require further, in-depth analysis.
In 21st Century Airlines: Connecting the Dots, Nawal Taneja addresses the challenges and opportunities facing the airline industry as it tries to innovate and create products and services that are radically different by ‘connecting the dots’ at four key levels: recognizing the implications of global events, improving cross-functional collaboration within the organization, working more closely with the travel chain, and providing much higher engagements with connectors within the social networks. The book synthesizes insights gained from the experience of non-traditional businesses, such as Uber, that have no physical assets and that focus on scalability through platforms, as well as traditional businesses, such as Mercedes-Benz, that are transitioning from operators of physical assets to adapt to the on-demand and sharing economies. These insights show pragmatically that digitizing airline businesses would require digital mind-sets, digital technologies, digital strategies, and digital workplaces to explore new frontiers in value for both customers and airlines. Moreover, forward-thinking airlines need to consider working with bimodal organizational structures, in which one group optimizes current business models (network, fleet, and schedule planning, as well as revenue management) while a second group explores innovative ways to add digital features to physical products to provide a consistent experience throughout the journey. The book is written for all senior-level practitioners of airlines and related businesses worldwide, as well as senior-level government policymakers.
This third edition of Straight and Level thoroughly updates the previous edition with extensive comments on recent industry developments and emerging business models. The discussion is illustrated by current examples drawn from all sectors of the industry and every region of the world. The fundamental structure of earlier editions, now widely used as a framework for air transport management courses, nonetheless remains unchanged. Part 1 of the book provides a strategic context within which to consider the industry's economics. Part 2 is built around a simple yet powerful model that relates operating revenue to operating cost; it examines the most important elements in demand and traffic, price and yield, output and unit cost. Part 3 probes more deeply into three critical aspects of capacity management: network management; fleet management; and revenue management. Part 4 concludes the book by exploring relationships between unit revenue, unit cost, yield, and load factor. Straight and Level has been written primarily for masters-level students on aviation management courses. The book should also be useful to final year undergraduates wanting to prepare for more advanced study. Amongst practitioners, it will appeal to established managers moving from functional posts into general management. More broadly, anyone with knowledge of the airline industry who wants to gain a deeper understanding of its economics at a practical level and an insight into the reasons for its financial volatility should find the book of interest.
Innovations in Logistics and Supply Chain Management Technologies for Dynamic Economies by Luo, ZongWei Pdf
"This book disseminates supply chain management and applied logistic theories, technology development, innovation, and transformation in various economy sectors upon current, advancing technological opportunities and market imperatives"--Provided by publisher.