Air Malaysia
- Submitted by: charleskihedu
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- Category: Other
- Date Submitted: 04/03/2016 05:56 AM
- Pages: 8
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Task Two
Compare the roles and responsibilities of top management and middle management of Malaysian Airlines to ensure growth of revenue and net profit in the next quarter and future?
Malaysian Airlines is an organization that is competing in an unstable industry, fairly well, given their past experiences which have led to their consumers opting for other service/product providers.
The roles and responsibilities involved for both top and middle management differ in that top management are/is responsible for the strategy formulation which should be followed by middle management, in other words top management is responsible for creating policies, goals and objectives which should be accomplished by the rest of the organization.
Definitions:
- Market Development means attracting new customers to existing products. The new uses of old products stimulate additional sales among existing customers while also bringing in new buyers. With our given case scenario, Malaysian Airlines may offer different routes to their existing target markets, seeing as though there are routes which are untraveled by the airline, like flying to other continents such as Africa and the Americas.
- Product Development strategy entails the development of new products and the enhancement of the old products for the present market. MAS may offer a better service to their existing consumers such as more luxurious flights (through the use of new and much more reliable aircrafts). Managers using and/or implementing the strategy of product development can rely on their extensive knowledge of their target market gathered through the monitoring of their targeted market and through the use of matrixes employed in the strategy formulation phase.
- Strategic Management is ambiguous and is complex. It extends to the entire organization and is fundamental to the operation and success of the organization in regards to attaining set objectives and/or goals. Strategic management entails long-term...
Compare the roles and responsibilities of top management and middle management of Malaysian Airlines to ensure growth of revenue and net profit in the next quarter and future?
Malaysian Airlines is an organization that is competing in an unstable industry, fairly well, given their past experiences which have led to their consumers opting for other service/product providers.
The roles and responsibilities involved for both top and middle management differ in that top management are/is responsible for the strategy formulation which should be followed by middle management, in other words top management is responsible for creating policies, goals and objectives which should be accomplished by the rest of the organization.
Definitions:
- Market Development means attracting new customers to existing products. The new uses of old products stimulate additional sales among existing customers while also bringing in new buyers. With our given case scenario, Malaysian Airlines may offer different routes to their existing target markets, seeing as though there are routes which are untraveled by the airline, like flying to other continents such as Africa and the Americas.
- Product Development strategy entails the development of new products and the enhancement of the old products for the present market. MAS may offer a better service to their existing consumers such as more luxurious flights (through the use of new and much more reliable aircrafts). Managers using and/or implementing the strategy of product development can rely on their extensive knowledge of their target market gathered through the monitoring of their targeted market and through the use of matrixes employed in the strategy formulation phase.
- Strategic Management is ambiguous and is complex. It extends to the entire organization and is fundamental to the operation and success of the organization in regards to attaining set objectives and/or goals. Strategic management entails long-term...