Question: How would you depict Fernandes’ entrepreneurial scheme? 1. General. Tony Fernandes was a hazard taker ; he bought his air hose without anterior cognition approximately air power every bit good as firsthand experience with the air hose industry. He said in one of the interviews. “Go with your intestine. give it your best stake and you may neglect. but don’t give up” ( INSEAD Knowledge. 2007 ) . This statement shows the type of the individual that he is. He is an independently-minded individual who knows when to swear his intestine. With his selling and entrepreneurial ability. he was able to do his dream come true.
Dato’ Sri Anthony Francis Fernandes – laminitis CEO of AirAsia
2. Entrepreneurial Strategies of Tony Fernandes.
a. A good appreciation of finance. Fernandes is an accountant by preparation and good at Numberss. Educated at the London School of Economics. from 1987 to 1989 he worked as the fiscal accountant of British baron Richard Branson’s Virgin Records in London. He got a good apprehension of accounting and finance ( Flores. 2013 ) . B. Taking Care of Key Assets. One of Fernandes’ strengths is his lovingness for and fostering good employees. He sees people as the “key asset” of any concern and hopes to assist develop their full potency. passions and dreams. His concern offices have no walls and he seeks thoughts from his staff ( Speaker Ideas. n. d. ) . c. Steady Branding Strategy. Tony Fernandes said it took him seven old ages to consciously and systematically construct up the AirAsia trade name name and logo as distinguishable and internationally known ( Times Internet Limited. . 2014 ) . d. Efficient Marketing Strategy. Tony Fernandes invests in and excels in selling. He said: “If you have a great merchandise but no 1 knows about it. its history” ( Flores. 2013 ) .
e. Use of Digital Technology. Fernandes believes in utilizing digital engineering for his concerns. Much of his concern comes from AirAsia. com. It is portion of his clever selling scheme to do riders detect and bask his web site ( Flores. 2013 ) . f. Bold Vision. Tony Fernandes has a bold. planetary and long-range vision for his assorted companies. As a kid. he dreamt of three things: running an air hose. having an English football nine and having a Formula One racing squad ( Harvey. 2012 ) . 3. Decision. From the above reappraisal of the entrepreneurial scheme of Tony Fanandes. it seems that Fernandes was really much a hazard taking enterpriser. However. the success narrative of Air Asia clearly reflects his accomplishment in pull offing the company that revived Air Asia from its ashes. On the whole. Tony Farnandes should be an illustration in the history of entrepreneurship. •How should AirAsia respond to the challenges posed by ( a ) New low-fare bearers come ining the Asiatic market place and ( B ) Low-fare schemes pursued by incumbent bearers? How would you qualify the competitory kineticss in this market?
1. For both instances. it would necessitate Air Asia to give the best possible service at the best possible monetary value. They should introduce and come up with new land and in-flight services to distinguish themselves from other low-priced air hoses. Air Asia should reexamine their client feedback and client service parametric quantities to efficaciously fit the customers’ positions and sentiments to the services they offer. They can besides present new constructs and sweetenings to their trade name of service. They must work to gain a repute ( for efficiency. promptness. and safety ) so that they could vie in footings of monetary value and quality with the low-fare schemes pursued by incumbent bearers ( Flores. 2013 ) . 2. The best manner for Air Asia to derive an border over other budget bearers is focus on the quality of service. This includes land services. in-flight services and on-time public presentation asset of class. aircraft safety which some budget bearers merely seem to scoff.
In add-on to upping its safety and service criterions. Air Asia should besides chop out paths that are non as popular while increasing frequences between airdromes that witness a heavy demand ( Papars. n. d. ) . •How do you believe the Asiatic rider air conveyance market place will agitate out? What lessons can be drawn from the North American and European experience? 1. The Asiatic rider air conveyance market place will agitate out when Asiatic authoritiess enforce rigorous ordinances in the air hose industries that prevent competition from booming. There will besides be shake out if the Asiatic economic system goes through recession once more ; the people would non hold the comparatively high buying power they have now. 2. The lesson that can be drawn from the North American and European experience is that concern theoretical accounts that work in North America and Europe could besides be applicable in the Asiatic scene. The universe is going more globalized ; the mentalities of people are besides altering doing it easier for them to accommodate concern theoretical accounts that are applied in other parts of the universe.
What is your appraisal of Air Asia traveling beyond its historic strength in Southeast Asia to Australia. China. India. and Europe?
1. It appears Air Asia will follow a scheme of low cost scheme to change over the big train going public to winging. In India and China. Particularly. in the 2nd financial one-fourth from July to September when the Summer school holidaies starts. and their attendant household trips. conclude by June in the South where Air Asia India intends to get down operations ( Agarwal. 2014 ) . 2. For Austrailia and Europe. it’s non the fanciest air hose about and the service isn’t the most dedicated. but value for your money is likely the best ground to book a flight with the Malaysian low cost bearer. Services to and from Australia and Europe are the 1s with the lowest and best monetary values on the market. “Now everyone can wing excess long” – The AirAsia X company motto is rather a benchmark ( Cahill. 2014 ) .
Agarwal. D. ( 2014. May 8 ) . Opinion: AirAsia India Granted Permission. But Should Wait to Commence Flights. Retrieved from hypertext transfer protocol: //www. bangaloreaviation. com/ : hypertext transfer protocol: //www. bangaloreaviation. com/2014/05/opinion-airasia-india-granted-permission-wait-commence-flights. hypertext markup language Cahill. J. ( 2014. March 25 ) . Reappraisal: AirAsia X Premium and Economy Class. Retrieved from hypertext transfer protocol: //www. gotravelyourway. com: hypertext transfer protocol: //www. gotravelyourway. com/2014/03/25/review-airasia-x-premium-and-economy-class/ # . U_ZncPldUmM Flores. W. L. ( 2013. December 16 ) . 12 Success Strategies of AirAsia Boss Tony Fernandes. Retrieved from hypertext transfer protocol: //www. philstar. com: hypertext transfer protocol: //www. philstar. com/business-life/2013/12/16/1268045/12-success-strategies-airasia-boss-tony-fernandes Harvey. C. F. ( 2012. November 22 ) . Tony Fernandes — “Dream The Impossible” . Retrieved from hypertext transfer protocol: //www. chrisfharvey. com: hypertext transfer protocol: //www. chrisfharvey. com/2012/11/tony-fernandes-dream-the-impossible INSEAD Knowledge. ( 2007. August 26 ) . CEO position: Tony Fernandes of AirAsia. Retrieved from hypertext transfer protocol: //knowledge. insead. edu/ : hypertext transfer protocol: //knowledge. insead. edu/leadership-management/strategy/ceo-view-tony-fern