This website uses cookies to ensure you have the best experience. Learn more

Business Finance Essay

1692 words - 7 pages

Southwest Airlines
Good morning, everyone. Our presentation focuses on the question that is what are the key policies, procedures, operating practices, and core values underlying Southwest’s efforts to implement and execute its low-cost/no frills strategy?
Today, my partner Liang Ting and I will do the presentation, and other 2 of our group members involved in searching the information and writing some related note. I will talk about the introduction and its key policies, procedures, operating practices;will talk about the core values and conclude the presentation.
Introduction: Southwest Airlines Co. (NYSE:LUV) is an American airline based in Dallas, Taxas. Southwest is the largest ...view middle of the document...

Southwest's core value
LUV was much more than the company's ticker symbol and a recurring theme in the Southwest's. It grew into Southwest's code word for treating individuals--follow employees and customers, and it would be respected as a caring, loving attitude. E.G. LUV and red heart appeared on the banners and posters at company facilities, for reminding the customers and employees about the expected compassion. The golden rule ( internally & externally ) Employees will be taking care if they suffer from the peer pressure elsewhere if they did not leave on their volition.
FUN
Throughout the company, fun appeared in the form of the generally entertaining behaviour of employees in performing their jobs. For example: Pranks & jokes; frequent company-sponsored & celebrations ( e.g. Southwest Shuffle ) Other special events of one kind or another at one location or another almost every week, like charity benefit games, chili cook-offs, Hollowness parties and so on. "We're kind of family here and family members have fun together."
Culture-building
Southwest executives believed that the company's growth was primarily a function of the rate at which it could hire and train people to fit into its culture, to mirror the Southwest Spirit, and Southwest Way.
CEO Gary Kelly said, "Some things at Southwest won't change. We will continue to expect our people to live what we describe as the 'Southwest-Way,' which is to have a Warrior Spirit, Servant's Heart, and Fun-Loving Attitude. Those three things have defined our culture for 36 years."
1.Southwest management’s strong conviction and operative principle that “employees come first and customers come second” has been applied in achieving high levels of customer satisfaction and high employee productivity. The importance of implementing that management’s belief which can be delivering superior service by required employees,it is not just a dull job for the employees but also knew as the company will concerned for their well-being and provide them with job security. Southwest’s thesis was simple: Keep employees happy—then they will keep customers happy.
2.Management’s beliefs that employees were the company’s most important asset were visibly symbolized by designating the personnel department and titling the head of the department as the vice president of people. E.g. The message Herb Kelleher penned in 1990 that was important telling:The people of Southwest Airlines are “the creators” of what we have become—and of what we will be.Our people transformed an idea into a legend. That legend will continue to grow by our people’s indomitable spirit, boundless energy, immense goodwill, and burning desire .Our thanks—and our love—to the people of Southwest Airlines for creating a amazing family and a wondrous airline.
3. The strength and depth of management’s commitment to deliver high quality customer service—as stated in the company’s mission statement : The mission of Southwest...

Other Papers Like Business Finance

Business and Finance Essay

3007 words - 13 pages Name: Dinara Khaybulaeva Module: Business Finance Tutor: Carolyn Johnson Submission Date: 5 October 2015 Confidentiality: I have read, understand and adhere to the KOL Confidentiality Policy. Click here to access the KOL Confidentiality Policy. Academic Integrity Statement: I have read and understood the Academic Integrity guidelines for Kaplan Open Learning and the University Of Essex, and declare that this assignment conforms to

Optimizing Finance Business Structure Essay

2982 words - 12 pages DAY 6 FINANCE Business Structure: The purpose of a firm is to maximize the wealth of its owners. Business structure is an organizational framework legally recognized in a particular jurisdiction for conducting commercial activities. There are 3 basic legal business structures that entities take on in the U.S. 1. Proprietorships (business owned by an individual) 2. Partnerships (general or limited partners). General (active

Business Finance

878 words - 4 pages Clementi Mall, The Singapura etc…Challenger is a business of providing plenty of difference IT products and services. It has more than 180 IT suppliers and more than 50 product lines. The group has a strong relationship with IT vendors (include Hewlett Parkard Singapore Pte Ltd; Tech Pacific Singapore Ltd; Acer Computer Pte Ltd). This network help the company to provide a wide range of IT products to customers and provide company a lot of

Business Finance Tutorial 1

1545 words - 7 pages ABMF3174 BUSINESS FINANCIAL TUTORIAL 1 1. If you bought a share of stock, what would you expect to receive, when would you expect to receive it, and would you be certain that your expectations would be met? A: When you purchase a stock, you expect to receive dividends plus capital gains. Not all stocks pay dividends immediately, but those corporations that do, typically pay dividends quarterly. Capital gains (losses) are received when the

Business Finance and Trade

2513 words - 11 pages target 2. Completion of the ownership change transaction 3. The management of post-acquisition transition The management of post-acquisition transition The merger amongst Tata and JLR appeared to be extremely confounded. JLR originated from 20 Years of Ford possession, an organization whose society and qualities vary profoundly from Tata's. Individuals at Jaguar will be extremely acquainted with American business practices, and moving

Business Finance and Accounting

806 words - 4 pages Capital, which are available funds to run the short term aspect of the business. Balance Sheet The information that is obtained in a balance sheet will give a financial view from a point in time of the company this is called a snapshot. (NCU, 2013) Provided in the snapshot are a list of the assets that XYZ Construction and a list of its liabilities, each taken a half of the page. Below there has been a sample of the information laid out in a

P4 – Describe Sources of Internal and External Finance for a Selected Business

932 words - 4 pages P4 – describe sources of internal and external finance for a selected business Caledonia is a small takeaway outlet shop that sells chicken burgers, chips and drinks. It is located in Harlesden, near the estates. This is so that they can get a lot of customers coming in and out of there shop. There are two ways that Caledonia can get financial resources: * From within the business (internal sources) * From outside the business

Finance for Business Study Guide

590 words - 3 pages Northwest Bank pays a quoted annual (nominal) interest rate of 4.75%. However, it pays interest (compouned) daily using a 365-day year. What is the effective annual rate of return (APY)? A. 4.75% B. 4.86% C. 5.02% D. 3.61% 14) You have $10,000 to invest. You do not want to take any risk, so you will put the funds in a savings account at the local bank. Of the following choices, which one will produce the largest sum at the end of 22 years? A

Business and Finance Unit 3 P1

1595 words - 7 pages strategies The Ansoff Growth matrix is another marketing planning tool that helps a business determine its product and market growth strategy. Virgin have used growth strategies such as ansoffs matrix as they have concentrated hugely on market penetration because they are very competitive with prices, sales promotions and advertise to existing customers to keep them on board with their company rather then losing them to the competition. Especially

Finance

427 words - 2 pages Steven W. Simmons Sr. University of Phoenix Business Structures Fin/571 – Corporate Finance Oscar Lewis August 16, 2014 Business Startup When making important business decisions, the concepts of corporate finance tend to be the best model to use. These concepts offer proven methods, which improve the financial success. Discussed below are basic corporate financial

Finance

620 words - 3 pages SUGGESTED PROGRAM PLAN FOR FINANCE MAJORS FIRST YEAR Fall Semester (14 or 15 credits) Spring Semester (15 or 16 credits) ENG106 Writing Intensive First Year Seminar* HCS100 Hum Comm Studies HIS101 World History I* HIS106 World History II* MAT108 Finite Math MAT181 Applied Calculus I ________ General Education elective ISM142 Business Computer Systems* BSN101 Foundations of Bus Admin (2 crs.)* ________ General Education

Related Essays

Business Finance Essay

4972 words - 20 pages separate departments, such as marketing, finance, production and product development. Each department will have managers, and each department will have an annual department budget. A company on this scale will annually pay large bonuses to directors and stakeholders of the business for good yearly performance. A large public company will have to consider their different distribution channels, be that air, rail, or sea, in order to export their

Importance Of Business Finance Essay

563 words - 3 pages Business finance is solitary of the majority of the essence aspects of running and maintaining a concern . Finances dictate the victory or failure of a concern. If a concern holder does not appropriately keep their concern finances it follows that they will soon investigate problems occur. Business finance is something with the purpose of all concern holder be obliged to deal with and understand. Part of concern finance is setting up proper

Finance In Business Essay

1054 words - 5 pages Finance in Business For a business to be successful in the increasingly competitive business environment detailed financial plans and accounts must be drawn up and followed consistently. With so many financial demands placed on small it is vital that all cost are calculated and accounted for prior to the businesses start-up date, these costs are referred to as 'start up costs' Start Up Costs

International Business Finance Essay

865 words - 4 pages Task Brief 2 – Written Assignment Module Title: | International Business Finance | Assessment Title: | Written Assignment | Individual/Group: | Individual | Weighting: | 70% | Submission Date: | week 24 | Instructions To Students For Submission Of This Coursework Task Details: This task takes the form of an essay and constitutes 70% of overall assessment for the module. You are required to choose ONE of the