Having recently read letters of commentary by Messrs Venner, Kennelon and many others, I feel somewhat obliged to add my 3 cents to the ongoing LIAT painful scenario.
Firstly, a Warren Buffett lacking the necessary funds and means to raise a required amount to pitch a problem in need of solution will fail, gloriously; so too would a fool with a ton of cash, as had happened in recent memory, with embezzled funds.
Highly skilled CEO replacement might help a bit and for a while, but new ideas may be needed. Looking at a nagging problem from a different perspective at times will render unique solutions, which experienced managers are faint to try in worry of messing up their track record, or generally unwilling to try something new. So why not give the new guy with new ideas a try?
In basketball as in many other sports, not that sports management directly equate to business, the most effective managers/coaches tend to come from the ranks of bench players who having rode their seats for extended periods, have had time to digest and understand what might better work, and so willing to try something new. So, here is my 1st cent – try a new CEO with new and revolutionary ideas that make sense (LIAT needs cents too!!!).
Next, eliminate or stop collecting taxes for each island LIAT services. Instead, put pricing algorithms to work to try and maximise the amount to charge to fly to and from each destination. There is a point (cost) at which customers flight to a destination will drop-off when the cost is too high. Obvious solution here is to price each tick at the price just under that drop-off level.
Am spending my last (3rd) cent on something that has been in the works for decades, but not implemented. Am hoping this is the incentive to get honourable politicians and learned negotiators to effect immediately – NO TRAVEL DOCUMENTS REQUIRED – for inter island travel, a driver’s license or any local ID to suffice.
With lowering of, or elimination of impediments to air travel, more customers will do so… a quick trip to T/T or from T/T for carnival or other festivals, or just to visit a girlfriend or granny for a taste of her world class oil-down.
The intention of the ‘one market’ with no travel restriction was and still is to encourage travel. Resultingly more money is spent in local markets on hotels, rentals, food, drinks, souvenirs, and whatnots.
Having spent all of my cents in one place, I need to clarify a major point of grave concern for the people who need to give this consideration – where and how would they replace the tax dollars which they impose on LIAT tickets on travel to/from their islands?
Well, if this seemingly novel approach, although a proven strategy used by Walmart, Amazon, Coke and many other successful corporations – is employed and LIAT gains tons of more customers becoming profitable; as stakeholder islands, they too will reap in that profitability, multifold, as noted above with increase in visitors’ spending, growing local economies.
Finally, please allow me to owe this cent, ‘on the house.’ Suggestion is to invite all employees to invest in the company to become stockholders, as opposed to paying union dues – their option – so they too might enjoy in the profitable fruits of their labour.
I put this last cent ‘on the books.’ Because enthused employees are the best ambassadors a company can have for its continuing success. Many of us have encountered a fair share surly agents and attendants more concerned about their personal situations than in helping to solve some unexpected travel dilemma. That too can be changed with positive outcome at the new LIAT.
Ok, am all spent. Good luck LIAT.
G. E. Forrester