Part I – SPACE Matrix. Use your Strategic-Planning Template to develop a SPACE Matrix for Southwest Airlines. The SPACE Matrix Example includes the FP, SP and Recommended Strategies. (SPACE Matrix Example)
- Follow guidelines provided in Chapter 6 of the David text to learn how to create a SPACE Matrix.
- Use your Strategic-Planning Template to develop a SPACE Matrix for your company. Review Southwest Airlines\’ business, its most recent Form 10K and quarterly report, and review industry and competitive information pertaining to your company to assist you.
- In 150-200 words, explain what strategies you recommend, given your SPACE analysis. Avoid generic, vague terms such as market development. (SPACE Matrix Example)
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
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While APA style is not required for the body of this assignment, solid academic writing is expected, and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide, located in the Student Success Center. (SPACE Matrix Example)
You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.
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SPACE Matrix Example – Southwest Airlines SPACE analysis
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Recommended Strategies – Space Analysis matrix
A Strategic Position & Action Evaluation (SPACE) matrix provides an ideal analysis tool for Southwest Airlines because it focuses on strategy formulation to maintain competitiveness. Recommended strategies seek to attain cogent financial, competitive, stability, and industry position for the company (David et al., 2020). Therefore, critical analysis of internal and external business components is essential for the company to realize subtle operational outcomes(SPACE Matrix Example). Nevertheless, With the significant impact of the COVID pandemic on the airline industry, key metrics such as the profit potential and growth potential are limited. Southwest Airlines should streamline its operations, particularly its financials and industry positions, by minimizing operation costs to improve the profit potential and venture into new destination to maximize on resource utilization. In addition, it can initiate cost-reduction processes by focusing on the core business and reduce investments that do not help it attain its Return On Investment (ROI). Furthermore, even though Southwest Airlines has a better competitive position compared to it’s key competitors, the company can work on aggressive marketing campaign to communicate the value it offers to customers and increase it’s market share in the American market. This could be followed by a focus on a focus on the international markets, where the airline has a limited market share. (SPACE Matrix Example)
References
David, F. R., David, F. R., & David, M. E. (2020). Strategic management concepts and cases: A competitive advantage approach (17th ed.). New York, NY: Pearson Education. ISBN-13: 9780135203699 space matrix generator
Ivan, D. I. A. S., Panno, G., Martellotta, A., & Allis, T. (2021). Low cost airlines branding during the COVID-19 pandemic. Marketing & Tourism Review, 6(1). space matrix strategic management
Southwest Airlines Form 10-K. (2021). United States Securities and Exchange Commission. https://otp.tools.investis.com/clients/us/southwest/SEC/sec-show.aspx?Type=html&FilingId=14680249&CIK=0000092380&Index=10000
Strategic Club Website link: http://strategyclub.com/
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