Europe Leading Airline Company Ryanair Essay Example | Topics and Well Written Essays - 3000 words

Europe Leading Airline Company Ryanair - Essay Example The bargaining power of suppliers is very high as the number of aircraft manufacturer and oil suppliers are very less in the market. Availability of proper airports is also very important for this industry. However, airports bargaining power is quite low as they depend on aircraft companies. The bargaining power of customers is very high as they have many airline service providers to choose from. The barrier entry of airline industry is quite high as it requires heavy investments and technical expertise. The airline is the fastest mode of transportation for overseas and long-distance travel. No other substitute can match the service of the airline industry. Competition among existing rival is the most import factor in this industry. The rivals are competing with each other for increasing their market share. In European Union, Lufthansa, Ryanair, Easy jet etc are leading airline companies. Â  Ryanair provides low cost and high-quality airline services to its customers. It places customer satisfaction above all other priorities. The decision-making process is primarily centered on concerns regarding ways to provide higher customer services. Fleet planning, airline fare, fleet scheduling etc are some of the chief aspects of Ryanair’s effective decision-making process. Â  Decision-making approach can be defined as the strategic approach of an organization. Ryanair’s management team aims to follow ‘rational decision-making approach’. The rational decision-making approach is an ongoing and dynamic process. This approach helps to identify the underlying problems and to find relevant solutions (Kroon, 1995 p.187). For example, in 2004, when the company was passing through a financial crisis, rational decision-making approach not only helped it to overcome it but also paved the path for growth. Â