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Identify two critical stakeholders in the external environment that would affect the profitability of the U.S....

Identify two critical stakeholders in the external environment that would affect the profitability of the U.S. Airline industry. Explain why they can affect the profitability and what can be done by a firm to improve the firm’s profitability.

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Expert Solution

Two critical stakeholders in the external environment who have considerable influence on the profitability of US Airline industry:

· Government legal regulations affecting the scope and operations of airline industry: The legal regulations laid down by government put the airline industry’s operations under control. They need to follow the regulations of seat count, flying frequency, etc., thereby keeping the operational scope and profitability of airline industry in check. The airline industry needs to ensure that it abides by all legal norms and compliances, so as to avoid any punitive damages, thereby affecting its profitability.

· Technological advancements facilitating the operational accuracy and effectiveness of airline industry: Technology has been acting as a boon for various industries. Airline industry has also been benefitted by integrating technology advancements in its business model. Technology has enhanced customer responsiveness of the industry, thereby facilitating its overall profitability. Airline industry must keep exploring the market for opportunities relating to technology and must imbibe them in its business model.

keosha answered 2 months ago
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