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each strategies. After that we have segments. Segmenting your data is a critical component of gaining insights and turning that knowledge into actionable comprehension. Lastly, we have Implementation. After defining our segments, we can put everything into action. With the addition of implementation details, you are officially done with your Measurement Plan (Creating a Measurement Plan, 2016).Stay Woke Air has a variety of different strategic controls to keep us above the rest. With strategic controls such as operational efficiency, pricing strategy, inventory/yield management, operating cost reduction, etc., Stay Woke Air will continue to maximize growth and revenue. Staying efficient in all areas will allow us as an airline to expand more and more each year. Forecasting in Airline Strategic Planning and Management In the airline industry forecasting is an especially important element in sustaining an airline. The purpose of the forecasts is to accurately predict future demand. The FAA develops the commercial aviation forecasts and assumptions from statistical (econometric) models that explain and incorporate emerging trends for the different segments of the industry (Aviation Forecasts, 2020). Stay Woke Air has multiple components in forecasting. The four components that we discuss will be RouteStructure, Revenue, Fleet Structure Costs, and Staffing Model Costs. Through these different components Stay Woke Air will be able to make well informed decisions and continue to promote growth overall. Route Structure As previously stated, Hub and Spoke will be our primary route structure with plans to acquire point to point routes in the future. The hub-and-spoke organization design is a model
AIRLINE REVENUE MANAGEMENT PROJECT12which arranges service delivery assets into a network consisting of an anchor establishment (hub) which offers a full array of services, complemented by secondary establishments (spokes) which offer more limited service arrays, routing patients needing more intensive services to the hub for treatment.Non-stop service is offered at our most frequently traveled routes, which is desired by most customers. Whenever we have discussions on route removal or route changes, we as an airline will forecast how the market will react to this change. If the demand for the routeto stay the same is high enough, no changes will be made. On the other hand, if the demand is low or not cost effective, then the route will be altered or taken out completely. With the choices made through forecasting, Stay Woke Air will continue to increase revenue, and thereby continueto grow. Revenue Structure The most important component for any business is to create revenue. Without revenue a business is unable to sustain itself. To create revenue, a company always needs to make effective choices and the easiest way to create more revenue is to increase efficiency. The Revenue structure is intertwined with other core structures, such asdetermining demand for flights, competition, and future growth. These will all play a role in the overall revenue coming in and