The paper 'Strategy Implementation - Qantas Airways" is a perfect example of a management case study. Founded in 1920, the Queensland-based Qantas Airways has experienced tremendous growth to become the leading domestic airline in Australia (Douglas and Cunningham, 1992). Qantas also ranks among the largest airlines in the Asia-Pacific region today. Currently, Qantas is believed to be the number one long-distance airline in the world and ranks amongst the strongest airline brands in Australia. The airline currently flies in many destinations in Australia and 81 international destinations in more than 40 countries across the globe (Hubbard, Rice and Galvin, 2014).
Qantas operates several domestic destinations and links the country with New Zealand. The airline has partnered with other airlines in the region that has seen its passenger base increase significantly. The company estimates that it currently carries more than 30 million passengers every year. Despite the growth that Qantas has experienced over the years, the airline has had to overcome many challenges, including stiff competition from other low-cost airlines, such as Ryanair, Singapore Airlines, Virgin Atlantic, British Airlines, and Malaysian Airline among others (Douglas and Cunningham, 1992).
Qantas attributes its success mainly to the effective strategic plans that the company has adopted over the years. Accordingly, the strategies have helped it gain a competitive advantage over its rivals in the industry. Strategic Planning Strategic planning has become a very critical tool that companies use to gain a competitive advantage in an industry. As the business environments increasingly become competitive and challenging, companies are realizing that not unless they develop and implement an effective strategic plan, they cannot succeed. Flood et al. (2000) define a strategy as the measures that a company intends to use to achieve its set objectives.
In other words, strategic planning defines where a company wants to be and the means with which to reach there. Therefore, in order to set an effective business strategy, managers must conduct research about the market in which the company operates to understand the internal and external factors that might impact its operations. Based on market research, a company cans device effective strategies that offer a competitive advantage. A good strategic plan is beneficial as it enables a company to know where it is going and how to reach there.
Accordingly, a company is able to avail of the resources and manpower to enable the achievements of organizational goals. Lack of an effective strategic plan is a recipe for failure because such a company will only be reacting to pressures of the industry rather than pursuing a set objective (Verweire, 2014). In fact, research has shown that companies that plan perform better than those that do not have a strategic plan. However, merely having a good strategic plan on paper is not enough to give a company a competitive advantage it might desire.
Rather, for a company to succeed, it must ensure that the strategies are effectively implemented (Flood et al. , 2000). This might require ensuring that there are the right manpower and the resources needed for the implementation of the strategy. Studies have shown that implementation is normally the most challenging part of strategic management. The studies attribute this to the fact that most managers lack the skills required to ensure effective implementation of the strategy.
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