Do short term gains muddy your strategy and what you stand for? If something isn’t your fault, should you make others pay for it?
These are definitely interesting questions to ask yourself – not only for your personal life, but also your business. Things fall out of control, and although we may suffer from it, why should we make others pay? Obviously British Airway’s had no qualms at all when they reached this juxtaposition.
The Icelandic Volcano, whose name that no one can pronounce, caused turmoil globally. Airlines are a mess because of weeks of cancelled flights, creating a back log of travelers who are stuck in their destinations. People are desperate to get back home – but that doesn’t mean they should be taken advantage of.
Simply supply/demand dictates that if supply is short and demand is high, that prices should rise due to scarcity. There are exceptions to this rule, and this is one of them. The majority of people who fly do so in economy, and even those who can afford to pay the extra fee’s for an expedited return may not be happy about the extra costs they’re paying.
This event has caused a massive mess – and it’s a perfect time for a company to get dedicated customers through the good will that they’ve shown. How far should they go – who knows? Under EU law, companies are bound to pay for any expense incurred because of the cancellations, which includes hotel, meals, etc … Now to me that is a bit extreme – but its the law, and if you already have to go that far, why not take the extra step and go a bit further? Richard Branson understands this. What would you do to make a difference to your customers?