Ldg W/ Wisdom, Vision & Value

Wk5- Respond to the two posts below with 150-200 words

JBurkman

“It is management’s job to direct the efforts of all components toward the aim of the system” (Demming, 1994, p. 50). For most organizations, the aim (mission) of the company differs from each other. For Chesky (Carson, 2018), his vision was his desire to build an empire that would sustain initial growth expansion and build a company with a great foundation and strong foothold in an ever-changing market (pp. 42—43). This type of leadership is rarely common in today’s materialistic world, which relies on quantitative metrics to determine an organization’s success. Most articles I have read about organizations focus on numerical metrics, even non-profit companies. Only looking at the quantitative aspects and negating the qualitative metrics will leave a company searching for answers when they are met with marketing problems.

For a company like Airbnb to move forward with a strategic plan, it would need to focus on its underlying mission statement and how it affects its target audience. Drucker’s (2008) five questions would be the best place to start in developing a strategic plan. By defining its mission, Airbnb can move into the qualitative and quantitative metrics associated with a successful business while building something sustainable. Performing a SWOT analysis would help the company look at factors inside and outside the organization that is currently affecting or will eventually affect them. By constantly reminding themselves of the desired outcome for their customers, Airbnb will stay focused on all factors associated with the organization’s health and not just monetary gain.

Airbnb’s responsibility is a multi-faceted answer and is not easily summed up into one category. First and foremost, they have a responsibility to their employees, which they should treat as their most valuable asset. The second responsibility is to the customers which have used and will use their services. Third, they will need to assess the socio-economic impact on the communities in which their services are rendered. Finally, Airbnb is responsible to its stakeholders and investors. However, these responsible parties need to be planned around intending to see equal qualitative and quantitative gains together.

Larry

When I read the article, the quote that comes to mind is the "bigger the risk, the bigger the reward!" Not for Chesky, this CEO has bigger fish to fry. The article, asks the question " if you have a greater responsibility, who do you have it too ?" Normally it would be investors, but not for Chesky. He feels he has a greater responsibility to workers, guests, hosts, and the cities that they are in. This is why he would need to have a SWOTT analysis done to see all the benefits that they will have. Looking over the information that I read in the article the strengths of the company I feel are the market and the revenue. I think families will always take vacations and will want to stay somewhere nice for the lowest price. They would want more bang for their buck. Secondly, I think that it is a global market, so that is a plus. A weakness I spot is that it's a fairly easy business to start because you do not need as much capital, and he wants to give a form of ownership to the customer, which somewhat makes it like a timeshare. Which according to Forbes will leave you in trouble with the IRS if you have to sell it at a loss.

There are many opportunities for wealth with owning an AirBNB, It could be a constant form of income, and the bills would be low if you do not have a regular tenet, you will be able to keep bills down.

I agree that they need to expand while the market is on the upward trend, but I do not think that buying more property is the answer, I think putting funds aside to help with the upkeep and luxuries will make it more profitable in the long run. I would also hire somebody in the advertising and social media review, to attract more people so that there is a constant cash flow. I think that would be sustainable and with minimal loss of revenue.