The Contemporary Organization's Evaluation

Contemporary Organization Evaluation
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Contemporary Organization Evaluation
Change is unquestionably the only constant in the worlds of business, economics, politics, and society. The paradox cuts across many sectors, but it has a powerful impact on businesses. Change may occur from internal or purposeful causes of several external forces. Firms and enterprises may either collapse or rise exponentially as a result of the change. This all depends on how they react, realign and reorient their business strategy, administration, management, and other business processes to accommodate the change. Covid19 is currently the most devastating pandemic in modern human history. Its impacts affect people's health, social life, interactions, businesses, economic life, and financial stability. In an attempt to curb the spread of the virus, many world governments have, currently and in the past, established several lockdown measures, including a ban on international flights. This has in no doubt crippled many businesses in the recreation, and transport, industry.
A case in point is Virgin Atlantic, a British airline based in Crawley, England. The name is a flagship brand of Virgin Atlantic Airways Limited and Virgin Atlantic International Limited. The airline flies to North America, Africa, Latin America, the Caribbean, the Gulf Region, and Asia from its command center at Heathrow. It is a subsidiary based in Manchester, using a diversified range of Boeing and Airbus broad planes (Georgiadis, 2021). The government initiatives to curb the spread of Covid disrupted transport and ultimately cut off the company's primary source of revenue. The company is continuously responding to a decrease in international flights, changes in people's propensity to spend, government social distance protocols, and business losses even after the resumption of flights.
The effects of Covid19 on the company have been drastic since Transatlantic travel accounted for over half of the company's sales before the epidemic. Arguably the changes have been disruptive, and the organization has responded to the dynamics created by this change in many ways. The significant impact of the profound changes was a reduction in revenue-generating activities for the firm. In retaliation, the company resulted in cutting costs and reduced expenditure. For instance, at the beginning of 2020, the airline declared that it would lay off 3,000 employees and cut the fleet size (Neate, 2020). It also sought to retire the Boeing 747-400s in a bid to cut costs. To strengthen the company's financial statements in preparation for hoisting foreign travel prohibitions during the second half of 2021, the organization raises 160£ million in new funding to provide additional adaptability against a sluggish revenue recovery in 2021. It also successfully sold and leased back two Boeing 787s as part of a strategy to improve its financial sheet.
Ideally, the most efficient way to handle change is by analyzing the most feasible alternatives from a given selection. For Virgin Atlantic, change came as a loss of revenue, significant debt, and higher costs of productions overweighing the profits. Arguably the company was suffering l...