Introduction
The chosen case study is related to Airbnb and its experience of surviving the Covid-19 pandemic. Airbnb is a well-known and valuable online platform for sharing houses and providing rent for tourists (Fernandez et al., 2020). Due to the spread of the virus, traveling was restricted across the world, seriously harming the work of Airbnb as people no longer needed rental houses for a relatively short period of time. As such, the company had to mitigate complications regarding external circumstances as the virus.
Main body
The case addresses the first responses of Airbnb to the Covid-19 public health crisis and changes that the company adopted. It also shows some prospects for travel industry after the pandemic. The cases question whether Airbnb should continue altering its business strategy or stay with it. This case is related to the chapter of the week by its project management that has experienced changes due to the unexpected external factor, the Covid-19. Airbnb suggested to its hosts to provide long-term stays and started an effective promotion campaign that emphasized a stay in a new house with new neighbors to survive the pandemic together. This demonstrates how proper changes in project management can be effective in solving issues that require immediate action.
With regards to two questions, I think the most appropriate question would be how long Airbnb should encourage customers for a prolonged stay and how do they compete with ordinary hotels. This is because the conditions and regulations that emerged during the pandemic are more likely to remain for a longer period, so the company should consider its strategy. In addition, as Airbnb started to provide longer stay options more, they have created to competitors like hotels.
I think that Airbnb is a good example of a successful quick response to the market changes. Due to the public health crisis, people’s demand has been changed, making project managers of Airbnb reconsider their vision of their business structure and their service. The sharing type of accommodation was extremely declined during the pandemic. As such, Airbnb should have a focus on other types of accommodation more and promoted them in order to survive hard times during the crisis. In addition, there is a need to highlight the work of project managers that could identify potential ways of transforming business and preserving its customers. There was done a great job on accepting new circumstances and providing customers with available options. The case study demonstrates such successful measures of Airbnb.
Yet, the case also shows how Airbnb has experienced losses during the Covid-19 crisis. As opposed to hotels, Airbnb has been dramatically decreased in terms of deals between hosts and visitors. Many hosting accounts had been deleted or temporarily closed. However, due to the effective advertising, the company could attract new hosts that were interested in obtaining revenues from hosting people, particularly during the spread of the virus.
Conclusion
To conclude, I think the case of Airbnb company is the best suitable case in relation to the chapter of the week. It illustrates how the business structure could manage its resources to survive the crisis and enter a new market of longer stay housing. In addition, the case study suggests the importance of effective project management leaders, who could identify how the company should be adjusted as quickly as possible.
Work Cited
Fernandez Vidal, Jorge; Silva Frojan, María del Rosario. “Airbnb: Surviving The Covid-19 Pandemic”. IE Business School, 2020.