American Economic Association The Theory of the Firm as Governance Structure: From Choice to Contract Author(s): Oliver E. Williamson Source: The Journal of Economic Perspectives‚ Vol. 16‚ No. 3 (Summer‚ 2002)‚ pp. 171-195 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/3216956 Accessed: 21-04-2015 06:39 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms
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Ryanair is considered to be the largest low fares airline in Europe. They have over 800 low fare routes across 26 different countries‚ so this gives you an indication as to the scale of this employer. Despite being a low budget airline‚ they are anything but budgeted when it comes to their staff. With real incentives and genuine opportunities for career progression‚ staff at Ryanair are valued for the hard work they do in helping to run one of the most successful budget airlines in the world. With
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COMPANY PROFILE Ryanair Holdings (Ryanair or ‘the company’) operates low fare scheduled passenger airline serving short haul‚ point to point routes between Ireland‚ the UK‚ and Continental Europe‚ as well as Morocco. It is headquartered in Dublin‚ Ireland and employs about 8‚560 people. The company recorded revenues of E3‚629.5 million ($4‚796.7 million) during the financial year ended March 2011 (FY2011)‚ an increase of 21.5% over FY2010.The operating profit of the company was E488.2 million ($645
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Europe. The market share leader is Ryanair. Important competitors are EasyJet‚ Air Berlin and the two smaller airlines: Norwegian Airlines and Wizz air. Also Aer Lingus can be seen as a competitor‚ despite the share of Ryanair in the carrier. Due to the economic recession opportunities for budget carriers increased. By mid-2009‚ budget airlines accounted for over 35% of scheduled intra-European traffic. Different players on the low-cost airline market Ryanair is an low-cost carrier‚ positioned
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Business Strategy Prof. Sebastian Raisch Mr. Jonathan Schad MBA Session 2014 HEC University of Geneva RYANAIR- The Low Fares Airline: Whither Now? Student: Roi Lavi May 5th 2014 1. Evaluation of the Competitive Situation in the Industry1: 1/5 The Bargaining Power of Low-Fare flight ticket buyer is LOW-MEDIUM: The low cost airline company’s buyers are mostly individual passengers that book 99% of tickets by Internet‚ without agents or other third parties and thus there is no dominant
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Case 5 - A Dogfight over Europe: Ryanair Key Issue: The key issue in this case is that Ryanair’s competitive advantage is based on offering customers an easy-to-imitate low price. While it may be operationally effective‚ they have no strategic positioning. Supporting Arguments: Ryanair’s low prices were not a strategy to gain market share. They were simply out of necessity to stay afloat as their sales plummeted. However‚ as their prices dropped to increase sales‚ they did manage to generate
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INTRODUCTION This critical review of the article of Briner‚ B and Conway‚ N (2006) "Protecting the psychological contract" will briefly consider the problem formulation‚ the place of the theory‚ methodology‚ Standard of analysis and presentation. The writers show that an employment contract is vital in the relationship between the employee and the organisation. That a psychological contract is as equally important but is less well known. They further highlight that the psychological contract
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Ryanair and Virgin Atlantic Both of them are recent creations in airline transport business‚ they started life in competition with major national flag carrier airlines and grew to be major challengers to these established companies. Virgin Atlantic’s air transport business originated in the long-haul‚ mainly transatlantic market which might be highly profitable but is also extremely competitive. It attracts passengers by offering a superior experience and is firmly positioned at the quality
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Do a five forces analysis of the airline industry in 1999 with the information available in the case study - Threat of new entrants o Airport slot availability • There is limited access to airport slots as national airlines had access to the best slots in the major airport hubs and new entrants to the market would only have little success as they would be given none or off-peak slot allocations at the airports • So-called grandfather rights at certain airports. • For instance in Heathrow
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low-fares service. Ryanair aims to offer low fares that generate increased passenger traffic while maintaining a continuous focus on cost-containment and operating efficiencies. The key elements of Ryanair’s strategy are: Low Fares. Ryanair’s low fares are designed to stimulate demand‚ particularly from fare-conscious leisure and business travelers who might otherwise have used alternative forms of transportation or would not have traveled at all. Ryanair sells seats on a one-way
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