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... ne. Same Three comes to the surface to fly its colors. Lone Star One takes to the sky as Southwest Airlines' 20 th Anniversary flagship Boeing 737. 1992 Wins the first annual Triple Crown in 1992 - a feat no other airline has been able to match in a single month! 1993 Expand to the east coast and begins service to Baltimore/Washington International Airport. Captures the second annual Triple Crown in 1993. 1994 Introduces Ticketless Travel in four cities. Morris Air is merged with Southwest.
Arizona One joins the fleet. Seven new cities open, including Seattle, Spokane, Portland, and Boise in the Pacific Northwest. Wins the third consecutive Triple Crown. 1995 Ticketless Travel is available systemwide in January. California One debuts in Sacramento. Adds service to Omaha and wins the fourth consecutive Triple Crown in 1995. 1996 Florida service is added - Tampa Bay and Ft. Lauderdale in January and Orlando in April.
Southwest celebrates 25 years of service. Ticketless Travel Online debuts on the Southwest Airlines Home Gate webpage. In October, Southwest inaugurates service from Providence, Rhode Island. Southwest wins the fifth annual Triple Crown for 1996. 1997 Starts out the year with service to their 50 th city - Jacksonville, Florida.
Jackson, Mississippi becomes the 51 st city added in August. In December, Southwest accepts the delivery of its first Boeing 737 - 700. Southwest is the launch customer for Boeing of the next generation Boeing 737 - 700. 1998 Begins new service to Manchester, New Hampshire on June 7. 1999 Begins new service to Islip, New York on March 14. 3 As you can see, this airline has been very busy the past 27 years. Southwest is a rare bird in American business, a company that has cultivated an exceptional working atmosphere with amazing success in its industry. Now let's take a look at how Southwest succeeds in one of the world's most demanding airline industries. "There is a growing concern that companies cannot live by numbers alone. " So said Forbes Magazine to introduce the results of its 1995 Corporate Reputation Survey. "The one thing that the top ranking companies in the survey have in common is culture.
A company's culture, like a person's character, drives reputation. It should come as no surprise that a company whose culture honors customers, employees and shareholders alike have excellent reputations. " 4 Southwest's culture is the glue that holds the airline together. It encompasses beliefs, expectations, norms, rituals, communication patterns, symbols, heroes and reward structure. Culture is not about magic formulas and secret plans but rather a combination of trust and loyalty. Kelleher believes that culture is one of the most precious commodities a company owns so everyone from the CEO to the baggage handler must work harder at it than anything else.
Kelleher defined Southwest formula to success as to: Blaze new trails. Don't rest on the laurels of others. Ask yourself how can you do it before you ask others how it's been done. Become a "risk doctor: " help others recover from mistakes by accepting, encouraging and laughing. Stand behind your commitment and those of your people.
Own mistakes, share mistakes, learn from mistakes and move on. Southwest's commitment to culture has blended three important ingredients to make their airline a thriving force: employees, customers and leadership. First of all, the employees at Southwest have an uncompromising dedication to a cause or movement that they deeply believe in. Secondly, Southwest has set the standard for low fares for the customers. They have made it possible for people all over the country to travel more conveniently and affordably.
Finally, there is sound leadership to ensure that the employee / customer relations merge to instill faith and allegiance. 6 Southwest is obviously a collaborate effort. Kelleher has surrounded himself with qualified and capable people who can run the airline with or without him. Of course, they can survive without him however I'm sure it would be quite difficult for them to live without him. He has set the benchmark for all industry leaders to follow. Southwest is the team that everyone in the industry would want to play for. They have been a genuine American success story.
Let's take a look at a few of their successful economical accomplishments. First is their profitability. In an industry that is still reeling from the $ 12. 8 billion loss it posted between 1990 and 1994, Southwest was the only airline to be profitable each year during that period. During this time the airline industry lost more money than it made in the previous sixty years. Southwest is the only U. S.
airline to earn a profit every year since 1973. Secondly, Southwest has have maintained a steady growth rate. Since deregulation in 1978, 120 airlines have gone bankrupt. They company has experienced 133 % traffic growth over the past five years, ranging from 20 to 30 percent annually.
Next is their outstanding stock performance. Investment guru Peter Lynch lauds Southwest as "The only U. S. airline to have made money every year since 1973. " Up 300 percent since 1990, Southwest's stock has performed formidably. While airlines typically trade at typically at approximately ten times their earnings, Southwest has generally traded at twenty times earnings. Finally, Southwest continues to lead the industry with the lowest fares, market dominance, most productive workforce, low employee turnover, highest customer service rating and the youngest and safest fleet in the world. 7 Kelleher calls his company "NUTS!" However nuts they may be, they are living out one of the greatest success stories in the history of commercial aviation and they " re having fun while doing it.
Since 1971, this eccentric and outlandish company has established a consistent pattern of deviating from convention. When other airlines were creating big hubs, Southwest was flying point to point. Instead of serving expensive meals, flight attendants pass out nuts. Instead of wearing stuffy uniforms, they sport polo shirts and shorts. For these departures from convention, and many others, the world has become fascinated with these crazy people whose unrestrained enthusiasm comes from the desire to make their lives and their company extraordinary.
Somehow, while the competition was trying to figure out who these "goofs" were, they never noticed that these "goofs" had already passed them up! Instructor: Mr. Verse Course: MAS 602 Date: May 10, 1999 Baiada, R. Michael. "Southwest Airlines: Below the Surface. " Airline Chakravarty, Subrata. "A Model of Superb Management: Hit " em Hardest with the Mostest. " Forbes, September 1991: pp. 48 - 51. Freiberg, Kevin. Nuts!
Southwest Airlines Crazy Recipe for Business and Personal Success; 1 st ed. ; Bard Press: Texas, 1996. Jacob, Rahul. "Corporate Reputations. " Fortune, March 1995 pp. 72 - 76. Jarboe, Jan. "A Boy and His Airline. " Texas Monthly, April 1989: pp. 98 - Jones, Del. "Low-Cost Carrier Still Challenging Industry. " USA Today, 1. Chakravarty, Subrata. "A Model of Superb Management: Hit " em Hardest with the Mostest. " Forbes, September 1991: pp. 48 - 2.
Jarboe, Jan. "A Boy and His Airline. " Texas Monthly, April 1989: pp. 3. Baiada, R. Michael. "Southwest Airlines: Below the Surface. " Airline 5. Freiberg, Kevin. Nuts!
Southwest Airlines Crazy Recipe for Business and Personal Success; 1 st ed. ; Bard Press: Texas, 1996. 6. Jacob, Rahul. "Corporate Reputations. " Fortune, March 1995 pp. 72 - 7. Jones, Del. "Low-Cost Carrier Still Challenging Industry. " USA Today, Abstract: The "Southwest" Experience Purpose: This paper will give a historical overview of Southwest Airlines, discuss the ingredients to the company success, offer some financial strengths and present a final conclusion. Introduction: First flight and my strange yet refreshing experience aboard Southwest Airlines. Section I: A brief year to year synopsis of the airline. Section II: A club and its culture.
Section III: A momentary look at a few of their economical accomplishments. Bibliography: Bibliography Baiada, R. Michael. "Southwest Airlines: Below the Surface. " Airline Pilot, July 1994: pp. 19 - 22. Chakravarty, Subrata. "A Model of Superb Management: Hit " em Hardest with the Mostest. " Forbes, September 1991: pp. 48 - 51. Freiberg, Kevin.
Nuts! Southwest Airlines Crazy Recipe for Business and Personal Success; 1 st ed. ; Bard Press: Texas, 1996. Jacob, Rahul. "Corporate Reputations. " Fortune, March 1995 pp. 72 - 76. Jarboe, Jan. "A Boy and His Airline. " Texas Monthly, April 1989: pp. 98 - 103. Jones, Del. "Low-Cost Carrier Still Challenging Industry. " USA Today, July 10, 1995.
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Research essay sample on Southwest Airlines Triple Crown