Evaluating the Business Environment Essay Example | Topics and Well Written Essays - 2500 words

Evaluating the Business Environment - Essay Example This essay stresses that the airline industry has been seen to make less and less revenue as the market forces and the business environment becomes harsh on it. However, Ryanair has seen its revenues grow and in most cases exceed the industry average. The airline has been capitalising on its uniqueness as a low cost airline to remain afloat and this is after analysing its Porter’s five forces. This report makes a conclusion that Ryanair has put in place, it becomes clear that the company has tried in coming up as the low-cost airline of choice for many in Europe. The company also established cost reduction measures based on reducing the impact of its threats in the industry as well as improving on its weaknesses. In overall the Ryanair has made huge strides in making sure that it emerges at the top despite the challenges faced. With all this progress the airline needs to change a few approaches to the market in order to gain more and to ensure a sustainable business. The management need to be more careful with their advertisements as they have seen them airline lose a great deal of finances in legal fees after being sued by competitors. Their website needs to carry information that is not misleading to the customers in regards to fares as the case has been in the past. The airline needs to diversify and move further into other continents so as to become a global airline wi th a wider market base thereby more revenue generation. However, this latter move needs good strategies as competition is stiffer on a global scale and the cost of operation will increase dramatically.