Strategic Plan Essay Example | Topics and Well Written Essays - 750 words

Strategic Plan - Essay Example Another main risk of Hawaiian Airlines includes causing distress to passengers in cases where the authorities find that their luggage’s â€Å"size, weight, or character renders it unsuitable for transportation on the particular aircraft which is to transport it, or which cannot be accommodated without harming or annoying passengers† (Contract of Carriage, 2013).Hawaiian Airlines is forbidden from allowing any passengers to carry an item that is prohibited in their regulations or laws. Risk Management: Another thing is that Hawaiian Airlines does not allow any object or device, which can get in the way with its usual processes, on board the aircraft. â€Å"Risk management is a systematic way of identifying potential risks within a project, gauging or estimating the probabilities of these risks occurring, to then develop strategies to manage these risks† (Bliss, 2005). Risk assessment: Identifying risks: Hawaiian Airlines explores various options available in order to reduce costs. But this is a very difficult task as present day competition between different airlines is very stiff. Some risks faces by the airlines arise because of the complex structure of its industry. These risks have to be identified and managed for the airlines to maintain its business and progress to higher levels. One of the major issues faced by the airlines is that it can sometimes alienate its loyal customers. This happens at times when the Aloha flights of Inter-Island are skimped in order to upscale or refurbish Hawaiian Pacific Airlines in order to increase client service. Risk Analysis: Risk assessment is not just related with identifying risks, but also making the stakeholders and project team aware of them. It also includes assessing the possible severity of these risks, thus, recognizing where most attention is to be given in order to transform risks into the advantage of the organization. In the case of aggressive growth, Hawaiian Airlines faces medium risk a s mentioned before. It is a fact that they do not provide services of flight to countries such Singapore and India, which are common tourism destinations. Singapore being an extremely popular tourist centre and the third richest nation in the globe, should be included by the Hawaiian Airlines in the list of countries they provide services to. Market Share in Inter-Island Services in Hawaiian Airlines shows low risks comparatively. To remove the competition in Inter-Island facilities area, the industry needs to develop some strategies to attract further customers and, therefore, increase their market share. Announcing particular offers, introducing special services, offering additional discounts to common fliers etc can be a few among the strategies. Brand Image in Hawaiian Airlines is an element that poses high risks. Corporate reputation is influenced to some extent by the value of the pilots in the airlines. It is the most crucial part in strategic airline management and, therefor e, Hawaiian Airlines have to maintain as well as find ways to improve their brand image. Calculating Severity The scales for calculating the probability as well as influence of risks may be qualitative, in some cases where there are comparative definitions available. Hawaiian Airlines suggests the following: Scale impact 1 Very aggressive growth Low 33 2 Interisland Competition risk