1.

BUSINESS FAILURES:

Business failure is a situation when the company is not able to generate enough profit
or revenue to pay back to its creditors or to maintain the day to day expenses, causing
the creditor to lose money.
There are many reason for the business failure but the most important of
them is not understanding the requirement of the market and people demand. Business
failure has many dimension and it could be properly understood by discussing them in
separate heading:
1. IMPROPER PLANNING: Success of any business is mainly dependent upon its
planning which may be the first stage of business, business may not be successful if the
firm may not have proper plan with regard to market and customer base. Airbnb create
confusion policies regarding cancellation which creates making bad relation with
customers and complained started for refund of booking in quarantines areas, (Kristen
Grind, 2020).
2. UNDERSTANDING OF CUSTOMER BASE: Company success is determine by the
base of its customer and understanding and catering to the needs of the customer is
priority of any business, if diversified base of customer could not be targeted than it may
turn into business failure. Airbnb fails to understand the customer’s basis with poor
customer’s services and the host started behaving negative with Airbnb (Sthapit, 2013).
3. LACK OF FEEDBACK MECHANISM: One of the most important way to keep your on
track is through identifying the loophole and course correcting it, it is equally important
for a successful business as well and also the most proper way of gauging the customer
need. And Airbnb response to host queries little less, keep on waiting the host for
booking cancellation and refund issues has created a big failure (Community center,
2021).
4. POOR MANAGEMENT: Planning could not serve its purpose if the management of
the firm could not strategically implement the plan. Management encompasses all day
to day activities and proper implementing the policies that the firm undertaken. So if the
management is not done properly than it may lead to tremendous failure of the business
undertaken. Airbnb poor management of booking cancellation make the host angry with
blanket cancellation in the pre lockdown booking till 31 May leads to company failure.
For this guest shows great anger too (Forbes, 2020).
5. IMPROPER LOCATION: The most important rule for the success is choking out the
proper location. Location is important for the footloose industry. Whether the resources
which are needed for the company are easily available or not. On the basis of location it
is easy to find out the customer need. The main location of Airbnb business is New
York, San Francisco had been greatly affected by Covid-19 resulting to drop 50%
booking in March and dropped in Washington DC and Chicago by 35% in January
(Forbes, 2020).
6. LACK OF FOCUS: To identify the priorities and sticking to it is pivotal for the success
of the company and the priority once are set than it is important to let go things which
are not important and not related with the business. However, company sometimes got
sideline with their main priority and that turn out to be the failure for them.
7. LACK OF EXPERIENCE: Good experience can be the stepping stone for success
and having experience people can take the business long way and it is ultimate source
while managing the crisis. However, sometimes companies and business neglect this
and it may seriously impact their business.
8. POOR FINACIAL MANAGEMENT: Managing finances properly is very important and
to do it properly one should know from where the money is coming and where it is
going. Accounting of the company should be very strong and effective financial planning
and management is important to manage resources properly. Business could also fail if
there is lack of contingency fund.
9. SELECTION OF BUSINESS WHICH IS NOT PROFITABLE: To sustain the business
regular cash-flow is necessary and that could be achieve if you are entering the right
business which is at least generating the bare minimum profit. Having idea and sticking
to it is important but for that it is also necessary that the cash are flowing so that
management of the company is properly managed.
10. QUALITY RATHER THAN QUANTITY: Sometimes when the business starts
growing it tends to overestimate its potential and go on above its capacity which
seriously impact the quality of the product. However, a successful ventures and firm
maintain both properly and that leads to tremendous success but if you have to choose
one than should be the former rather than later because that’s the most important way
of retaining the customer.
11.LACKING UNIQUENESS AND VALUE: Choosing the ventures which is profitable is
important but it is important for the business to choose the field which is not full of
competition to sustain the business as also one of important principle of POTETRS five
principle.
12. LACK OF PROPER MARKETING STARTEGY: One of the best way of making
business successful is through proper marketing strategy and finding the way to market
product or services. With the fierce competition among the business group not only the
quality of product would suffice but there is also the need for best marketing strategy
and if that is not cater than it leads to the verge of failure for the business. Airbnb
Business failure could be avoided if above mention point are taken into
consideration and by remaining committed to ideals and vison of the company and
strategically managing both human and financial resource. The most important is
understanding the need of the market and customer and having the strong feedback
monitoring mechanism which helps in identifying the mistake and provide way of
correcting it. During the coronavirus time Airbnb could have mange despite of such a
shrunk in its demand because of proper management where they have provided the
unrented rooms to medical staff in Italy and provided homeless resident in Barcelona for
self-isolation and through this way it has also generated the goodwill of people and
customer.
 2. Structures, Systems and Cultures

Structure, Systems and Cultures are inherent part of any organization or a firm. An
organization with definite structure and systems with dynamic cultures has high
potential for success. Organizational structure is the allocation of roles and
responsibilities to different levels and sectors to achieve the goal and vision of the
organization. It determines the employee’s roles, powers and the position in the
organization.
Two types of structures are: Centralized and Decentralized systems. In the case of
centralized structure the decision making process if top down and the top level of
management monitors and oversees the various departments and management. While
in the decentralized system decision making power is delegated to the lower levels and
more autonomy is provided to foster leadership and faster decision making. Latter
ensures faster decision making and implementation. It can also be categorized into
Horizontal and vertical dimensions. Vertical organizations have different layers of
authority and power centers. It requires less management skills in employees and there
is quicker flow of information. Whereas in horizontal organizations tend to have a wider
span of control i.e. many subordinates under one manager or supervisor. Horizontal
structures tend to have better communications and are generally cost effective for an
organization due to not needing many managers. There has been a rise in
decentralized organizations, as is the case with many technology startups. This allows
companies to remain fast, agile, and adaptable, with almost every employee receiving
a high level of personal agency.

Customer base, business strategy, unique sense of products and service determines
the appropriateness of an organizational structure.
Types of structures:
1. Functional structures: Here the structure is arranged based on functional roles as
in various departments such as human resources, Marketing, finance and
accounting, etc. Roles are given based on specializations and skill of employees.
Airbnb for instance brought about radical change in their functional structure of
the company during coronavirus pandemic in the way that it laid off more than
20000 employees to cope up its loss making. However it also provided them with
incentives to nullify it’s negative image on people of having done huge
retrenchment of its employees.
2. Divisional Structures: Rather than dividing structure based on specializations
and skills, here roles are distributed across various branches wherever they’re
needed. For instance Airbnb has different has various retail outlets in different
cities.
3. Matrix structures: It amalgamates both functional and divisional structures in the
way that a team of personnel with different skills are brought together for specific
projects.

Organizations have to decide which type of structure is best suited for their business
including its business, structure and industry. A successful organizations defines roles
of each employees and works their specialization for the right purposes. Not having a
formal structure in place may prove difficult for certain organizations. For instance,
employees may have difficulty knowing to whom they should report. That can lead to
uncertainty as to who is responsible for what in the organization. Having a structure in
place can help with efficiency and provide clarity for everyone at every level. That also
means each and every department can be more productive, as they are likely to be
more focused on energy and time.

Organizational Culture
Organizational Culture can be defined as “the specific collection of values and norms
that are shared by people and groups in an organization and that control the way they
interact with each other and other stakeholders from outside.”

Hierarchy, Market, Clan and Adhocracy forms the part of organizational culture.

Hierarchy: It makes structure well defined and stable. It is quite a formal culture which
emphasizes on control and authority to keep the organization running smoothly. This
type of culture offers security and stability.

Market
This type of culture is similar to Hierarchy Culture in the sense that it also focuses
somewhat on security and stability but it is driven results. It is a very competitive
environment to work in and there is very high focus on production.

Clan
The focus of this type of organizational culture is the employees of the organization. It is
a very friendly environment to work in. Loyalty is emphasized and employees are asked
to express themselves more openly. There is also a lot of importance given to
teamwork.

Adhocracy
This type of culture emphasizes thinking outside the box. Employees are given a bit of
latitude to experiment and to think differently. Creativity is encouraged and appreciated.
The atmosphere is dynamic and roles are not always defined. It is quite different from
the rest of the organizational cultures.

Organizational and culture are mutually inclusive and they have effect on each other.
Culture dictates how the company should be structured. So, no matter how big a
company, if its culture starts to disintegrate, it is only a matter of time till the structure
also follows. So when employees are supposed to work together on a task in the
constraints of a formal structure to reach a certain objective there are certain ways to
speak and interact, which in effect forms an organizational culture, where it may be
created knowingly or unknowingly by the employees. Organizational culture in some
way defines the organizational structure of an organization but the structure also
partially defines the culture of an organization.

Airbnb’s Prioritization to Survive the Pandemic: History has shown that successful
turnarounds are usually guided by a few key priorities. Chesky and the leaders at Airbnb
directed their efforts on the core business, customer emotions, and employee needs. As
a result, they’ve resurrected their rental inventory and future bookings and nearly
doubled the company’s value; and Airbnb is now expected to become the most valuable
hospitality firm in the world and one of the world’s 10 strongest brands. Adopt these
survival strategies and they will become your success formula.
4. PORTER`S FIVE FORCES
Porters five forces model are also known as competitive forces model which generally
analyses the operating environment of the competition of business. The idea of porters’
five forces is based on the publication by MICHAEL E PORTER of Harvard University in
Harvard business review, 1979. The five forces determine the attractiveness of industry
in terms of profitability. An unattractive industry is one in which the effect of these five
forces reduces the profitability of an industry. The most unattractive industry would be
the one which would be entering into a pure competition.

Fig: The Porters Five Forces.

According to Porters these five forces represent the microeconomic factors rather than
macroeconomic factors of industry. These microeconomics factors are close to a
company that determines its ability to serve customers and the company’s profit. A firm
has to assess the market place and also gather the overall industry information. Firms
are able to apply their core competencies, business model, or network to achieve a
profit above the industry average. An example can be the Airline industry which requires
large capital for creating fix assets, which leads to higher initial cost of business and
operations. The high entry cost creates an entry barrier in the industry, which reduces
the competitiveness of the airline carriers. However, in the recent years more liberal
policies of the government and availability of cheap capital has made it possible for new
entrants to enter the airline industry, thus making it a competitive industry.
The five forces that shape the competition:
The porters five forces include three horizontal competition which are threat of
substitute products or services, the threat of establish rivals and the threat of new rivals;
and two vertical competition which are the bargaining power of suppliers and the
bargaining powers of customers.
1. Threat of new entrants: barriers to entry restricts the threat of new entrants by
reducing the competition if barriers are high the threat of new entrants is reduced
and conversely if barriers are low competition will be higher. However the high
barriers to entry make the exit more difficult as in the case of Airbnb like
Booking.com.
Michael E Porter has listed seven major sources of entry barrier which are as follows
 Supply side economics of scale: Here a market player spreads the fixed cost
over a large volume of units thus reducing the cost per unit. This discourages the
new entrants because of requirement of high investment.
 Demand side benefit of scale: The peoples willingness to purchase a product or
services with other willingness to purchase it.
 Customer switching cost: The supply chain integration of a player make it
attractive for customers to stay for a long time. For instance offers for the
frequent flyers of indigo helps it retain the customers
 Capital requirements: recent internet and advent of technologies has made it
possible for industries to lower the cost of business as opposed to traditional
form of brick and mortar establishment.
 Incumbency advantages independent of size
 Unequal access to distribution channels
 Government policy

2. Threat of substitute:
This arises from a rival competitors providing product or service at lower prices or
of better quality or more eco-friendly and so on. Viz. entry of Boking.com
threatened the monopoly of Airbnb booking.
Potential factors:
 Buyers propensity to substitute: It determines the brand loyalty in the industry.
For instance Makemymtrip was preferred by people despite availability of
substitute.
 Relative price performance of substitute:
 Buyers switching cost:
 Perceived level of product differentiation:
 Number of substitute products available in the market
 Ease of substitution
 Availability of close substitute
3. Bargaining power of customers: It is the ability of customer to put the firm under
pressure which affects the price changes.
Potential factors:

 Buyer concentration to firm concentration ratio

 Degree of dependency upon existing channels of distribution
 Bargaining leverage, particularly in industries with high fixed cost
 Buyer switching costs
 Buyer information availability
 Availability of existing substitute products
 Buyer price sensitivity
 Differential advantage (uniqueness) of industry products

4. Bargaining powers of suppliers: This determines the cost of doing business. As

the number of suppliers reduces the bargaining power of supplier increases
thereby leaving less room for the firm to buy their raw materials from.
Major factors are:

 Supplier switching costs relative to firm switching costs

 Degree of differentiation of inputs
 Impact of inputs on cost and differentiation
 Presence of substitute inputs
 Strength of distribution channel
 Supplier concentration to firm concentration ratio
 Employee solidarity
 Supplier competition: the ability to forward vertically integrate and cut out the
buyer

5. Competitive rivalry: understanding of rivals in industry is important to successfully

marketing a product. The product has to be preferred by the public and it has to
distinguish itself from others competitors.
Major factors are:

 Sustainable competitive advantage through innovation

 Competition between online and offline organizations
 Level of advertising expense.
 Powerful competitive strategy which could potentially be realized by adhering
to Porter's work on low cost versus differentiation.
 Firm concentration ratio.

Competition is an inherent part of any industry however if competition is way too high it
becomes tough for a firm to survive therefore Porters five forces are key to
understanding the competitiveness in any industry.
5. Strategic change
Strategic management and planning is necessary evil for success of any company,
organization or the government. Strategic planning involves a vision, mission and
priorities of an organization towards achieving a long term goals of an organization. It
also involves situational analysis of an organization thereby analyzing the internal and
external environment to formulate objectives and strategies of an organization.
Strategic management on the other hand involves the steps and processes required to
achieve the goals and objective of the strategic plan. Management of the strategic plan
ensures the implementation of the plans.
There are many steps involved in the planning process which are as follows:
Situational analysis: This involves the both the internal and external assessment of the
organization. SWOT analysis (Strength Weaknesses Threat and Opportunities) forms
the first step towards this. Apart from this analyzing the external factors such as the
power of my rivals, suppliers, buyers and customers and threats from them is important.
Analyzing threat and opportunities technology; evaluating capabilities, culture and
processes and their readiness for change; and customer feedback are the ways to do a
right situational analysis.
Execution/ Implementation: This is the final step towards achieving the goals set by the
organization in the planning process. Distribution of the plan to the various employees
and organization based on their specialization and capabilities has to be done. Constant
monitoring and assessment of the implementation process ensures that the plan is
being effectively executed.
A Well thought out strategic plan and management has plethora of benefits these are:
 They maintain a competitive edge over other competitors.
 They acquire right technology suited for their organizational need.
 They are also efficient in employee management and role differentiation.
 Great Product life cycle can also be achieved through correct strategic
management and planning.
 Client identification and analysis of customer behavior through strategic planning
helps in increasing customer retention and networks.
 A firm with excellent product and strategic planning and management but low
capital will be able to attract potential investors.

Case Study: Kellogg has a 42% market share in the value of UK’s breakfast
cereal market. The company has a range of markets for all the age groups over
three years old.
Consumers of cereals perceive Kellogg to be a high quality cereal manufacturer.
This is result of the consumer confidence it has created over the years.
Kelogg achieved this through its excellent branding, which involves its name,
design, symbol and other major features; and its product positioning, which are
its various attributes and qualities emphasized to customers.
Kelogg demonstrated its aim through corporate responsibility by reinforcing the
importance of balanced lifestyle so that its consumers understands the
importance of balanced diet.
Its objectives are designed to meet its specified aims such as encouraging and
supporting physical activities; increasing association between kelogg and
physical activity; using resources to sponsor physical activities focused on
consumers; use the cereal packs to communicate the balance message to
consumers; and introducing food labelling that would enable consumers to make
decisions about the right balanced food.
Its objectives were clear, specific and measurable. Objectives were set over a
realistic time period of over three years.
Another strategy used by Kelogg was in the area of food labelling. It introduced
recommended guideline daily amount (GDA) to aware consumer about the
recommended daily level of nutrients.
To encourage physical activities it partnered with Amateur swimming association
which aligns with Keloggs objectives. Working with ASA provided it with the
opportunity to associate with other organizations.
To encourage people to work Kelogg supplied a free pedometers to customers
so that all customers can measure their daily steps.
Apart from this Kelogg started an excellent communication strategy such as “Get
the balance right” and “eat to be fit”. It uses cartoons such as Jack and Aimee to
communicate its message.
For internal communication company distributes house magazines which
communicates the message of getting the balance food and exercise right.
Thus through well thought strategic planning and execution Kelogg’s right to
information campaign have helped people make informed choices.

Case study of Keloggs gives us the idea that Communication and metrics,
prioritization of goals and actions, balanced strategy and consumer’s feedback
are important for strategic management and planning.
Since strategic Management and planning is not a single event we still need to
review and readjust the plan to the changing needs and objectives of
organization.
6. CORPORATE SOCIAL RESPONSIBILITY:
Corporate social responsibility(CSR) is a self regulating business model which
encompasses the responsibility of company towards environment, people and society
so that sustainability of business as well as environment is ensured. CSR as cited by
United Nation Industrial Development organisation(UNIDO) involves 3Ps which are
people, planet and profit.

CSR not only helps in economic, social and environmental sustainability but also in
boosting the brand image of companies. Starbucks, Tata Industries, Infosys, and
Automobile companies such as Tesla electric and Volkswagen are some examples
which strives to be leaders in CSR domain.
The recent phenomena of climate change arising from global warming post
industrial revolution and technological advancements has cause tremendous damage to
the environment which has a serious repercussion on the livelihood of the people and
flora and fauna. The IPCC 5 th assessment report on climate change has pointed out that
rise of temperature of -1.5 degree Centigrade will be inevitable without the active
responsibility of corporate sectors towards the environment. Therefore, CSR becomes
An important tool to check the climate change.
Moreover, awareness among the people towards the environment and eco-
friendly products has seen an increasing trend in recent times (yatish josh, zillur
Rahman; sciencedirect) demands of environmentally sustainable products has increase
in recent times due to behavioral change and green consumption. For this reason CSR
has become an important part of a firms brand building process to attract new
customers and retain the existing customer.
 Governments in various countries has made CSR an integral part of their
development agenda thereby enacting laws to enforce CSR. India for instance made
CSR compulsory for companies with annual revenue of more than 500 crores in
Companies Act 2013. Similarly Singapore actively promotes CSR activities among
corporates as a complementary mechanism.

Singapore Fuji Xerox Company came up with an comprehensive environmental policy in

2003 which aims to protect environment in its supply chain through eco friendly
initiatives such as “you print, we plant” initiative. The company plans one tree for each
paper made in its factory. The policy has resulted in the reduction of 40 % of CO2
reduction in its company. Apart from this was also an increase in the revenue of the
company by 38% CAGR.

Similarly Samsui Supplies and Services, a subsidiary of the Soup Restaurant Group,
donates 2,000 non-profit meals a day or 500,000 meals yearly to the underprivileged in
Singapore. Besides giving free meals, the sauce producer and distributor of food
products also employs 12 to 20 trainees from the Movement for the Intellectually
Disabled of Singapore (MINDS), who pack dry goods in its central warehouse.
Now a days to be a responsible participant in society is mandatory for companies. To
stands as a forward thinking citizen companies must follow CSR. The firm which
provides real solution of the people and the environment has higher acceptability among
people
BENEFITS OF CSR FOR COMPANIES PROFITABILITY;
1. Higher Media Appreciation: companies following CSR gains higher media attention
than other companies. Azim premjis wipro is one such example.
2. Brand Differentiation: indulging in CSR makes a brand honest durable and
trustworthy.
3. Customer retention: people also want to make contribution to make the world a better
place by supporting companies which provide a definite corporate social responsibility
plan.
4. Lower cost: Use of eco-friendly product which are locally available reduces the cost
of procurement. For instance use of fly ash in road construction by mixing it with
cements reduces the carbon footprint.
5. Employee satisfaction: Companies with CSR policy gains the trustworthiness of
employees as CSR fosters the wellbeing and progress of the employees.
BENEFIT OF CSR FOR PLANET:

1. WASTE REDUCTION: Hazardous industrial wate can be reduced with proper CSR
strategy which in turn reduces the carbon footprint in the environment.
2. 3Rs (reduce, reuse, recycle): Companies can contribute to environment by adopting
3R principle in a sustainable way. Plastic is a single largest threat to the environment
today therefore adopting 3Rs principle in plastic waste management will contribute to
the sustainable development.
3. AIR POLLUTION: Adoption of CSR in companies in sectors such as transport and
coal related industries reduces the carbon footprint in the environment.
4. ENERGY SAVING: Green technology such as renewable energies reduces the
dependent on fossil fuel thereby ensuring intergenerational.
BENEFITS OF CSR FOR PEOPLE:
1. Employee Engagement: As per studies it has been found that companies with CSR
policies has seen improved key performance indicators such as 18% increase in
productivity and 43% reduction in absenteeism.
2. Poverty Reduction: Companies has been allocating a part of their fund for poverty
alleviation programme in various countries. For instance Bill and Melinda Gates
Foundation has been spending around 35 billion dollars per annum for poverty
alleviation programme in sub Saharan African region.
3. Generating New Employment Opportunities: New employment opportunities are
being created in various sectors with newer skill requirements. Sunrise sectors such as
electric mobility, renewable energy and green technologies requires newer sets of skills
which are being fulfilled by CSR policies.
4. CSR for Local and Global Communities: CSR gives the people platform and leverage
for global and local communities to works towards a broader vision.
5. CSR For SDG: CSR is instrumental in achieving all the 17 SDGs which directly
impacts the livelihood of local and global communities.
6. Investment Opportunities: As per World Bank report the global sustainable
investment exceeds 30 trillion dollar worldwide. Therefore investing in sustainable
development ventures has potential for high returns.
Today’s business is about findings the solutions of the problems that world is
facing and the biggest problem of this era is climate change and CSR is the way to find
the solution to this problem. As it is rightly said that goodness is the only investment
which never fails, CSR ensures wellbeing of people and planet along with the
profitability of the company.

STRATEGIC CHANGE
Strategic change is bringing the change in the current state assuming the future threats
and competition that will arrive in the market forces it will also help in building
competitive for the company and it is brought by the upper management taking into
consideration organization technical, cultural and political aspect. It is also preparing for
the future scenario which are not under the control of the company so that it business is
not affected and it continue to remain important player in the market. With the rapid
industrialisation and innovation and technological development and new entrant into the
market has made the component of strategic very important to remain relevant in the
market.
 To achieve strategic change businesses often have to go through the process of
restructuring, reengineering and innovation. In restructuring they often try to bring
efficiency in the management and improve the working style so that it can cope with the
future need. Through the process of reengineering it bring improvement in the process
of the business where emphasis is laid down in the cross functional work so that the
time could be save by department by working on the project at the same time by
specific department. And through innovation companies often try to improve the quality
of the product which may help it to achieve the desire marketability, innovation need
investment in the research and development and exploring need dimension and idea.
However before moving toward the strategic change management has to
properly plan and identify whether the organization is ready for the change and does
have the ability to make the change successful in doing so it has to take into account
the competency of the working forces in the company. Strategic change can be achieve
through the following steps:

1. Determine the need for change : In strategic change organization have to identify
what to change just as in the case of Airbnb it has to made the strategic change with
regard to its business model after the outbreak of the covid 19 they decided to offer
blanket refund policy offering last minute cancellations and full refund. As it is also to
identify the strength of company so rather than diversifying much it put focus on
reengineering.
2. Perform stakeholder analysis: While bringing the strategic change the company
has to figure out how it will impact the different stakeholders and it has to priorities the
different stakeholder on the basis of the impact it will have on the company which would
help in addressing the concern of stakeholder. In this case Airbnb first taken into
consideration the concern of the customer fear and try to address it by enhanced
cleaning procedure and also try to address the problem that the customer were facing at
the initial stage due to lack of clarity regarding the cancellation policy.
3. Build support for the change : Support for the change can be achieve by the
different method like educating and motivating however most important is to identify the
threat for change and demonstrating importance of the change as Airbnb has identifies
that there will be reluctance among the traveller to travel so it try to address the
emotional feeling of the customer and also by taking the support of host.
4. Create a change network : change network should include the team member who
are associated with the implementation plan and this include sponsors, advocates,
targets and the change agents. Airbnb was provided with 1 billion US dollar as equity by
the silver lack back and it also try to win the confidence of the employee who were at
the core in implementing the changes by making the strategy clear with the employee.
5. Prepare a change management plan : It is the plan in which the company is
heeding towards to achieve the desire objective by preparing the goal to achieve, scope
of the change plan, list of task that needed to be undertaken to achieve the desire
objective and tools and resources for the plan as well timeline within which the task
undertaken need to be completed. Airbnb while making the changes assess the
environment and while cutting the cost laid off the 25% of the workforces and later on
hired the laid off workers and resurrected their rental inventory and future booking.
6. Identify and manage obstacle : While implementing the plan things may not go as
desired by the management team so addressing the obstacle and remaining flexible for
the future hindrances is the best way to cope up with it in this regard we can cite Airbnb
policy with regard to customer apprehension at the initial stage when the plan was rolled
out it caused confusion among customer as well as among the host but the company
tried hard to rectify the problem and reassured the customer and the host.
7. Evaluate the change: Evaluating the change is the most important as whether the
objective have been achieve or it is going in the right direction or not and the positive
result may show it is going in the right direction and if the outcome is not as desire than
there is the need to change the plan as after implementing the plan Airbnb is expected
to become the most valuable hospitality firm in the world and one of the worlds 10
strongest brands.
For the successful change strategy implementation it requires the careful drafting
of plan and rigorous implementation and it is more important to have the contingency
plan so that it could overcome any obstacle in the process, Airbnb has carefully try to
address the need of the market time at the same time remain flexible to address the
need of the customer and host and also taken into consideration the emotions of the
employee which led to successful implementation of its desired objective and helping it
to become more reliable and valuable hospitality firm in the world.