AT LEAST 150 WORDS EACH…WRITE AS IF YOU ARE TALKING TO THE STUDENT
In consideration of diversification planning, i would reccomend option i) Lease three cargo jets which you would operate exclusively for a large air-package service firm. The firm is willing to give a four-year contract with a clause that automatically adjusts the fees to reflect the current cost of fuel. The cost to establish the business (crew training, additional maintenance facilities and equipment) is $300,000. The ROI is 20% and the risk factor is 3 to 4. There is a large return on investment with a relatively low risk factor. For my company, and where they are currently at, this is a reasonable way to turn profit with minimal risk. I dont see much ethical concern, if any, with this decision either.
In an effort to diversify the operation I would I would recommend option a) Acquire a food service company that serves several airlines. It is located in the airline’s largest hub. The cost is $500,000 and the Return on Investment (ROI) is estimated to be in the 12-20% range with a risk factor of 5. Considering the fact that the food industry venture is located at the base. This venture would be convenient due to its location. Also, this would be a potential to opening this business to other vendors such as other airlines, providing them a wider variety of meals. A prime example is LSG Lufthansa Service Holding AG, LSG Sky Chefs. LSG (n.d.) showed where this company was originally a subsidiary of American Airlines, but now they are a subsidiary of Lufthansa. LSG is the world’s largest provider of airline catering. However, ethical implications could include areas of social responsibility, sustainability and integrity. Hui (2013) showed where companies can also have ethical implications in marketing. Regardless of the industry, a socially-responsible company should care about their customers, employees, suppliers, the local community, society, and the environment. In this case, the activities of this company has a wide impact on the society and development. The company and its ventures should actively manage the economic, social, environmental and human rights with the intent of avoiding conflicts.
Hui, W. (2013). Why Corporate Social Responsibility is the Greatest Ethical Challenge to U.S.-China Relations. Retrieved from http://www.globalethicsnetwork.org/profiles/blogs/…
In the start of this course, my knowledge and skills abilities were somewhat vague regarding this course and the Capstone requirements. This course demonstrated that upon completion we should have the capacity to apply whatever we learned from day one with the intent of delivering the required results. Preparation for the Capstone has been the most significant and relevant insight. This course has better prepared me to understand what to expect around the bend. My academic goal has experienced a total transformation from initially taking this course. My goals have changed from a more analytical stance to one more of leadership. This course was also beneficial in understanding the importance of team dynamics. I must attest that taking this course has also questioned the value of online higher educational institutions. The course has tested my patience on several occasions, and for that I am grateful. The course was an actual simulation of the real world and has prepared me for my new role at my organization. As for my professional goals, I am pleased with the current return on my investment. I have since received a promotion in November of 2017, and am on track for future growth.
How has your ability to perform these skills and apply this knowledge evolved for each competency?
The main takeaway from this course has been “pulling it all together”. We have all gone through a lot of study and research with different aspects of analyzing and strategy options. This course, and the included simulation, really pulled some of those disparate concepts and ideas and pulled them together in a scenario based simulation that required implementation of those skills and abilities, beyond simple paper writing.
What concepts, skills, or insights were most relevant to you?
Seeing the results of choices over the course of the simulation, and understanding how the choices made created those results was the key for me in this class. Getting feedback of my analysis and expectations after each decision really gave me a greater understanding of how I can use different strategies and research directions to properly assess a situation.
How have you grown in your academic and professional goals? Have you made progress on any items in the action plan you developed during the first course?
The thing I gained most from this course was an improved confidence in myself, and my abilities. While you all understand how much work we have done over the previous classes to get to this point, it still just felt like classwork. I have used some of the new techniques and processes in my routine, but it didn’t really feel like I was becoming a “Master”. The simulation created a great example of finding the scope of a project, analyzing the situation, forming a strategy, and interpreting the results. By tying it all together, it solidified fro me how far I have come, and that I am quite capable of carrying this knowledge into real world situations. In short, it has made me confident in my skills that I hadn’t felt yet.