This may explain part of the above. Or does the QF board consider its most value asset itself?
I doubt the QF board considers it's most valuable asset it's people. Remember that HR dept's have been telling companies for years that people can always be replaced... (Just the name HR - "Human Resources" indicates that people are replaceable like any other asset).
QF's most valuable asset is it's brand (brand being public perception of the company, it's not the colour of the paint slapped on aircraft and a few posters thrown up over airports like some graphic designers will tell you). Unfortuantly for the board the QF brand is (off the top of my head)
- Qantas is the worlds safest airline and has never crashed (Rain Man said it was so)
- You will have an Australian Pilot at the controls who are the best in the world (John Travolta told us so)
- The plane will be maintained in Australia (Aussie LAMES are the best in the world)
- QF is not low cost, you will be given all the trimmings such as a meal (and probably won't be charged for being a little bit over on your checked baggage)
- QF will give you Australian Hospitality, (which is the best in the world \ we at least understand it)
Is this list an accurate reflection of what QF is in the real world? Not necessarily, but in the minds of the customer it is, and that's what's important in defining a brand.
The problem is if the QF board plays around with these things too much, what QF is to the customer will change, and that will only end badly for QF.