JetBlue started their business in a positive approach, by ensuring the main elements were in place prior to starting operations. Compared to JetBlue's counterparts that started up their airlines in the 1980's and 1990's, JetBlue began with a highly experienced senior management team, dedicated core values, and plenty of capital to ride out the low times.
JetBlue's strengths and opportunities compared to the industry are:
Strength & Opportunities:
Highly experienced leadership team
Above industry level wage compensation and benefits
Customized employee compensation packages
Fun, caring work environment
Weaknesses & Threats:
As with any new startup companies, the unknown syndrome
Will they attract the right people' to work and will they attract enough business
Will the economy take a turn for the worse, such as fuel prices rocketing out of control
Will the employees automatically ask for the unions to take over
Must get the minimum amount, $130 million, for financing prior to starting operations
Must have key elements of senior and top management teams in place
Must obtain key location for first hub for operations
David Neeleman, JetBlue CEO and owner, had the right idea for starting up his JetBlue airline. With this idea firmly in mind, he began by selecting highly experienced individuals with like-minded values to the senior management team. Each individual brought in their expertise in their particular areas, and each wanted to start a company from scratch and do everything in the "right way."
Before starting the hiring process, Ann Rhoades, Executive Vice President of Human Resources, wanted to take the best parts of human resources and incorporate them into JetBlue. She surveyed the top management team to define the core values they wanted for the organization. The results are the five core values for JetBlue: Safety, Caring, Integrity, Fun, and...
Bibliography: 1. Staff Writer. "JetBlue Airways Celebrates Significant Construction Milestone at JFK 's Terminal Five." JetBlue Airways.com, 17 October 2006. URL: http://investor.jetblue.com/phoenix.zhtml?c=131045&p=irolnewsArticle&ID=91 7707&highlight=. Accessed 16 October 2006.
2. Levin, Harvey, "Michael Eisner is Blue -- Jet Blue." TMZ.com. URL: http://www.tmz.com/2006/08/23/michael-eisner-is-blue-jet-blue/. Accessed 18 October 2006.
3. Davidson, Mike. "Jet Blue 's Masterful Approach." MikeDavidson.com, 22 September 2005. URL: http://www.mikeindustries.com/blog/archive /2005/09/jet-blue. Accessed 17 October 2006.
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