How British Airways can overcome low profitability and threat of Essay

How British Airways can overcome low profitability and threat of redundancies - Essay Example One of the most important issues for firms in the airline industry – as also in firms in all industries worldwide – would be to understand the needs of the customer and the market trends. The use of creativity when developing a firm’s strategic plans could be particularly valuable towards the improvement of organizational performance. However, managers would have the necessary skills in order to use creativity for the development of their firms’ strategic plans. The use of appropriate supportive tools (like Porter’s five forces, SWOT analysis or benchmarking) would be suggested to managers of all firms internationally especially under current market conditions – when the development of strategic advantages is not sufficient for the improvement of a firm’s position in its market. The radical changes in markets worldwide under the influence of continuous and strong financial turbulences have been often considered to express a change in t he structure/ ethics of societies worldwide. The airline industry has to follow the practices adopted by other industrial sectors in order to survive in current financial crisis.