The view on what strategy means, varies as it is expected. The reason for the existence of different definitions is the Greek root of the word strategy means the art of war. Some definitions are: Strategy is the skill of administering or planning (Webster's New World Dictionary, 1992). Strategy is the direction and scope of an organization in the long term, combining the resources of the organization with the changing environment and more particularly to markets and clients, in order to meet the expectations of all stakeholders (G. Johnson and K. Scholes, 1993). Strategy is to identify the key objectives of a business, adopting a series of actions and the allocation of appropriate resources to achieve these objectives (Feurer &. Chaharbaghi, 1997)
In a large extended, multi-branch company are three interdependent levels of strategy: corporate-level strategy, business-level strategy and functional-level strategy. The corporate level strategy is the overall plan of management that extends across the organization can act as an "umbrella" covering all business units and includes the movements to be made for the installation of business units in various sectors. The corporate-level strategy is generally referred to in the following initiatives in terms of top management: The construction and management of a portfolio of products or services in high performance. This involves strengthening the existing business units and the exclusion of units that do not fit the plans of the administration. In synergy among related business units to gain a competitive advantage. The prioritization of investments and allocation of operational resources in the most "attractive" in terms of opportunities for points. The monitoring and review of the most relevant approaches and actions proposed by the executives of the business level.
The business strategy refers to the administration moves to achieve good profitability in each business unit within the organization. The main concern here is how to build and strengthen the long-term competitive position in the market. Based on this direction, the business strategy is primarily concerned with: The design of actions to successfully compete and to ensure competitive advantages. Finding responses to volatile external conditions.
The grouping of the strategic initiatives of the most important components. Taking action to resolve problems relating to each business. Finally, the functional strategy relates to all the strategic initiatives taken in any part of a business unit. A company needs a workable strategy for each critical functional activity, one production strategy, a financial strategy, a strategy distribution etc. Primary role therefore the operational strategy is to support the business strategy and pave the way for how to achieve the productivity targets in each working area. (Georgopoulos, 2006) More specifically, British Airways is the largest airline in the United Kingdom. It is also one of the largest airlines in the world, with more transatlantic flights from Europe than any other airline. Its main bases are London airports London Heathrow and London Gatwick. Subsidiary company bases are regional airports such as Glasgow and Manchester, where performed many transatlantic flights. (http://www.britishairways.com/travel/home/public/en_gr) The mission of British Airways, according its social responsibility report: “is to become the world’s most responsible airline, and we have developed guiding principles that describe what we are doing to achieve this goal” (British Airways, 2008) The vision of British Airways is “to gain accreditation for Carbon Offsetting Scheme and to fulfill the industry united position on climate change by reducing the climate change emission in aviation with a cap on net emissions by 2020 and 50% cut by 2050” (British Airways, 2008)
The main goals and objectives that British Airways have set are the followings: Be the airline of...
References: Books / Articles
British Airways, (2012), Our strategy and objectives, annual report and accounts 2011/2012
British Airways, (2011), Our strategy and objectives, annual report and accounts 2010/2011
British Airways, (2010), Our strategy and objectives, annual report and accounts 2009/2010
British Airways, (2009), Our strategy and objectives, annual report and accounts 2008/2009
British Airways, (2008), Corporate Responsibility, annual report and accounts 2007/2008
David F.R. (2012), Strategic Management, Prentice Hall
Feurer R. and Chaharbaghi, K. (1997), Strategy development: past, present and future”, Training for Quality, Vol. 5, No. 2, σελ. 58-59
Johnson G. and Scholes K. (2002), Exploring Corporate Strategy: Text and cases, sixth edition, Prentice Hall, σελ. 280, 290
Luffman, G., Sanderson, S., Lea, E
Luxinnovation G.I.E., (2008), Ansoff Matrix = The product/market grid, The National Agency for Innovation and Research in Luxembourg
McKiernan, P., (1992), Strategies for Growth, Routledge
Papadakis, V. (2007), Business Strategy, Publishing G. Benos, Athens
Pun, Κ. F. (2004), A conceptual synergy model of strategy formulation for manufacturing, International Journal of Operations & Production Management, Vol. 24, No. 9, σελ. 905
Thesus, A. (2013), British Airways Strategic Management
Webster’s New World Dictionary, (1992)
Wheelen T.L., and Hunger J.D. (2004), Strategic Management and Business Policy, Prentice Hall
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