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Priceline Management Team Profitable

1. What did Jeffrey H. Boyd, CEO of Priceline, and his management team do to turn around the business to make it profitable after the downturn in 2001?
2. What aspects of strategic leadership are emphasized in the mini-case on Priceline.come?
3. If you were the CEO of Priceline, what challenges would you need to overcome in the future.
(700 words total, not including questions)

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1. What did Jeffrey H. Boyd, CEO of Priceline, and his management team do to turn around the business to make it profitable after the downturn in 2001?

The management at Priceline sought to overcome their near bankruptcy by focusing on an innovative approach toward online booking that wasn't currently being used by other competitors. The typical travel site was primarily focused on providing consumers with competitive airline deals, but Priceline was forced to become innovative and think outside of the box, and this is where the company began branching out into offering deals with hotels online. The company partnered with major hotel brands to offer joint venture deals with these hotels, which eventually resulted in partnership offerings with over 10,000 hotels. The company made the partnership ideal for hotel brands by lowering fees associated with booking on their site as well as lowering fees that were accessed to travel agents and brokers.

Therefore, travelers who simply wanted to book a hotel online for the best possible deal, could go to Priceline while ...

Solution Summary

The management team for turn around the business to make it profitable after the downturn in 2001. The aspects of strategic leadership is emphasized. The challenges that need to be overcome are given.

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