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Essay / Research Paper Abstract
An 11 page paper providing a literature review of business failure prediction models and an assessment of the airline industry as of mid-2005. One author holds that among small businesses at least, human resource factors carry greater weight in predicting business failure than do financial factors. Critical factors for success in the airline industry include the ability to compete in ways different from competitors and intense customer loyalty. Most airlines struggle to achieve these ends. Bibliography lists 27 sources.
Page Count:
11 pages (~225 words per page)
File: CC6_KSairFailPred.rtf
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Unformatted sample text from the term paper:
for James Beaver in 1996. Introduction and Background In the late 1970s, Lee Iacocca implemented a first in United States history by soliciting
Congress for aid to keep Chrysler in operation. Always a leader in technological innovation, Chryslers styling left much to be desired and it had built its reputation as an
old persons car years before the American car-buying public discovered Japanese quality and lower prices in response to the international oil crisis of 1973-1974. The fact that small businesses
provide the greatest proportion of jobs in the country (Lussier and Pfeifer, 2001) was known but discounted; big business gained the most attention of the press and of labor unions.
Iacocca argued that the loss of Chrysler would cost various levels of government far more than would a government bail-out as the company strove to restructure and redefine itself,
an argument that found credence in Congress. The federal government extended $1.5 billion in loan guarantees to Chrysler in 1980, which the company paid off seven years early in
1983 (Crisis management isnt new at Chrysler, 1996). Not all business bail-outs are so successful, however. The political climate is such that
protectionism is less favored than a generation ago; sentiment is that the market is an efficient judge of the management efforts of any business.
Several authors (Kahya, Ouandlous and Theodossiou, 2001; Lussier, 1995) have devised and defined business failure prediction models. The purpose here is to review literature discussing some of those
models and then to review the current state of the US airline industry. Literature Review It has long been a goal to establish
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