Summary: IMG developed a strategic business plan (SBP) for the Metropolitan Nashville Airport Authority (MNAA) and is currently updating as well as periodic updates to that plan.
Issue: As part of its effort to more effectively respond to the changing dynamics of the aviation industry and maintain competitive airline rates and charges, MNAA retained IMG to conduct a strategic business plan in 2002. It also retained IMG to update the plan in 2005.
Solution:
IMG analyzed air service trends, industry competition, and operational and financial structure and performance, as well as conducted a Strengths-Weaknesses-Opportunities-Threats (SWOT) analysis to prioritize MNAA’s strategic objectives. Industry best practices and benchmarks were employed to determine MNAA’s performance goals and a plan was developed to maximize performance and increase stakeholder participation and value.
Value Created: IMG developed a Strategic Business Plan that fits the unique development and evolution of the Nashville Airport and its general aviation reliever and allows regular adjustments and updates, keeping in mind the Authority’s overall mission and goals. Since the inception of the original SBP, MNAA has visibly improved performance and applied the same interdisciplinary strategic planning process to all MNAA departments. IMG is now updating the full MNAA SBP, developing a process through which MNAA will be able to monitor and identify new developments and changes in aviation/transportation, global/national economics, Federal policy, and local factors which could affect the validity and attainability of the organization’s strategic objectives.
