Choose a CURRENT article “ripped from the headlines,” such as a news piece based
ID: 459679 • Letter: C
Question
Choose a CURRENT article “ripped from the headlines,” such as a news piece based on news articles from the popular press (e.g. New York Times, Wall Street Journal, Bloomberg news, local paper, Business Times, Business Journal, Business Week etc.). The organization can be in any industry and operate in the private, public or not-for-profit domain. Discuss the following with a paragraph for each: • DETAILS ABOUT THE COMPANY, ORGANIZATION OR PERSON • WHAT IS THE ISSUE • YOUR ANALYSIS AND EVALUATION OF THE ISSUE • YOUR TAKE AWAYS OR KEY LEARNING
Explanation / Answer
Let us consider the company, "KINGFISHER AIRLINES"
The Kingfisher Airlines is once a lucrative airlines that was once running under a brand, "Kingfisher, king of good times". It was one of the private airlines that was offering good services to all its customers. But now the company is seeming to be that lucrative.
The man behind this company is Vijay Mallaya who is the owner of the King fisher airlines. He has several other business also running for him. He has his stakes in the F1 racing to the cricket teams and the company called UB holdings.
The main issue with this airlines is that the airlines is not making profit and it does not have money to pay its employees salary and it also has lot of tax dues to the government and also it has lot of loans to repay to the banks.
The main cause for all the issue is that the owner Vijay Mallaya has kept the management of the airlines under his sole control. The management of the company must always be left to the experts to deal with. The owner should have only the money invested in the company. With the management of Mallaya lot of confusion came in the handling of the airline operations. The employees in the organization doesnot know the way forward for the organization. Lot of loans were borrowed from the banks, with the stakes in the UB holdings as the collateral. But the airlines didnot have much of the takers. Since the company didnot make profits, they were even not able to pay the employees salary. This backfired on them by having the employees not turning up for work. They also showed rude behavior with the passengers in the aircraft. The banks also started to quizz for loan repayments. The government were also not in a position to help the private aircraft. Had the management been given in the hands of the experts, such a situation would not have occurred.
The key takeaway from this issue is that, you should not handle the issues in which you are not the experts. You need to hire the experts to handle the issue.