Student Focus

The context of the 2020 Covid-19 pandemic and the economic and reputation crises at Virgin Atlantic Airways accounts for the need to consider multilateral stakeholder relationships in crisis management for long-term sustainability. It is argued that a better comprehension of the dynamics of stakeholder relationships at Virgin Atlantic Airways could have fashioned a more proactive response to the crises.

Business Strategy plays a major role in most companies, particularly in developed and mature countries. Studies show that a formal strategy can contribute to organizational effectiveness and competitive advantage. In the last few years, the United Kingdom has faced a protracted and slow growth, political uncertainty and inefficiencies due to poor management. As a result, similar mature markets have seen productivity and efficiency surpass that of the UK. Between 2017 and 2019, the UK economy lost 185 billion GBP per year due to poor management and resulting ill health. The UK also fell 14% behind similar countries in the G7 on productivity (Francke, 2017). The economic environment does not favour businesses with little or no strategic direction.