Strategic Management

Summary

Strategic management is an effective tool consists of the decisions, analysis, and actions that an organization takes to achieve and ensure success in their future business. It is considered as the most effective tool all over the world that deals with planning and implementation of a strategy through the process of identification of various threads, weakness, opportunities and also strengths of an organization. Strategic management sustains and creates competitive advantages for the organization.

Strategic Management is also very helpful in aviation industry as there is a high demand of effective and unique strategy in airline industry to attract large number of customers that provides huge revenue. This paper provides the process of strategic management followed by Southwest airline. Southwest Airline is one of the leading Airline in United States that does not only provides competitive airline fares but also provide excellent quality of customer service that no other airline can give within United States.

The process used by the management of Southwest Airline to plan and implement an effective strategy is based on internal and external analysis that identifies thread and weaknesses for this airline. It also defines the opportunities that are available for this airline to secure a respectable position in the market and proving competitive packages. In the end of this research paper SWOT analysis of Southwest Airline that is also a step before finalizing future strategy.

Table of Contents

Summary2

Introduction4

Discussion5

Target Market and Business Model5

Mission Statement5

Strategic Management and Strategic Planning of Southwest Airline6

External Environmental Analysis (EFE)6

EFE Opportunity Results7

EFE Threat Results8

Internal Environment8

IFE Strength Results9

IFE Weakness Results9

SWOT Analysis10

Opportunities11

Threads11

Strengths12

Weaknesses12

Conclusion13

References14

Strategic Management

Introduction

Strategic management or strategic planning and implementation process is basically the set of decisions taken at managerial level. It also includes action that has been taken to determine and ensure the long term corporation and organization performance. Strategic management involves scanning process of both internal and external environment, long range and strategic planning or formulation of strategy, the implementation of strategy, and most important evaluation process of organization and its controlling. Therefore, strategic management strategy emphasizes and focuses the evaluating and monitoring of threats and external opportunities through consideration of organization's weaknesses and strengths. The strategic management process is very considered as very effective process all over the world that ensures future growth of the organization if it is properly implemented as planned.

In this research paper, we try to focus on the case of an airline named as Southwest Airlines which is not a new name especially for United States. This firm was started as Air Southwest Company in the year 1967 by two businessmen named as Rollin King and Herb Kelleher (Verma, 2009, P 153-172). Southwest Airline is continuously serves as leader since inception of airline industry due to its tremendous skills of management and effective planning. The strategic operations process followed by the Southwest airline is considered as the most effective processes as it is designed on the basis of some very effective methodologies such as SWOT and designed by the world best strategic management that Southwest Airline have. This research paper also discusses ...