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Accounting aspects of Southwestern Airlines Essay

Category: Finance & Accounting Pages: 5 Type: Essay Level: College
I give people the license to be themselves and motivate others in that way. We give people the opportunity to be a maverick. You don't have to fit in a constraining mold at work-you can have a good time. People respond to that' (Lancaster, 1999).

Despite the fact that 90% of Southwest employees are unionized, labor relations have been surprisingly positive, especially by industry standards. There are no official structures for labor or union participation in management administration; nevertheless the company led by top managers who vigorously seek out and respond to employee views has taken the lead on developing and maintaining this culture. 'One significant base of the company's achievement in a rather unsteady industry is the fact that the unions are not involved in pushing their roles beyond the conservative collective bargaining and grievance functions they perform. In this regard, Southwest differs from some other renowned cases of Human Resource-based and customer-oriented success stories' (Kochan, 1999).

Southwest Airlines: Its Accounting Aspects
The September 11 incident pushes the airline industry into economic turmoil, resulting in unemployment, insolvency, and the prospect of fragile prospects. Soon after the September 11, most major airlines announced sharp service reductions, grounded aircraft, and laying-off of employees. Yet 'during the first decade of deregulation, more than 150 carriers, many of them start-up airlines, collapsed into insolvency. Eight of the 11 major airlines dominating the industry in 1978 ended up filing for bankruptcy, merging with other carriers, or just disappearing from the radar screen. All together, the industry made enough money during this period to buy two Boeing 747s.' (Dempsey, 1984).