일본항공의 기업구조조정에 관한 탐색적 사례 연구 = Exploratory Case Study on Corporate Restructuring of Japan Airlines

다국어 초록 (Multilingual Abstract)

In recent it may be impossible to predict the sustainability of any airline company. In this paper we investigate why Japan Airlines could have not avoided declaration of bankruptcy and how they could overcome the crisis and accomplish successful corporate restructuring. Exploratory case analysis uncover the two main drivers for effective corporate restructuring of Japan Airlines. The one is rapid large-scale retrenchment of business portfolio, asset composition, and organizational structure. The other is organization-wide reform of members` consciousness to overcome the existing unwritten rules of complacency deep-rooted in the mind of the mass executives and employees. According to additional in-depth analysis, meanwhile, it was revealed that Japan Airlines could restructure itself through (ⅰ) rebuilding of business activity system, (ⅱ) embracing of external authentic CEO, (ⅲ) resolving of cause of performance deterioration, and (ⅳ) interaction between retrenchment and recovery. In conclusion, future research issues on corporate restructuring and turnaround were proposed and practical implications were suggested for Korean airline companies under the fierce performance pressure.

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