“FINANCIAL DECISION MAKING”
FINANCIAL STATEMENT ANALYSIS
COMSATS INSTITUTE OF INFORMATION TECHNOLOGY LAHORE
Networks of PIA (Domestic Network)
➢ PIA to be a world class profitable air line exceeding customer expectations through dedicated employees committed to excellence.
➢ Offering quality customer services and innovative products. ➢ Participating in global alliances.
➢ Using state of the art technologies.
➢ Ensuring cost effective measures in procurement and operations ➢ Achieving adequate returns for all stake holders. ➢ Being an equal opportunity employer.
➢ Providing competitive compensation and a congenial work environment.
Mission statement is an overriding statement inline with business and aspirations of stakeholder’s expectations. Generally a mission statement covers following four areas.
➢ Key success factors
➢ Organizational value
➢ Organization philosophy
➢ Target market
Mission of PIAC
As a symbol of National pride, Pakistan International must strive to be an airline of choice operating profitably on modern commercial concepts, capable of competing with the best in its entire International and Domestic markets consistently exceeding customer expectations. It should be a choice employer deploying modern technology in all spheres of its activities.
➢ Key success factors
Modernization:In airline industry modernization is the key success factor. The airline should be responsive to the changes that are taking place in the environment. Modernization of the communication system and the fleet replacement & and up-gradation is of massive importance in this regard. As far as PIA is concerned modernization has been the hallmark of it. From communication side PIA has recently upgraded its previous communication system REPAK by the new and state of the art SABRE system which is directly connected to Singapore. PIA also maintains very close interaction with its agents and provides them with the latest information including fare lists etc. PIA has been upgrading its fleet periodically keeping in view the changing customer needs. Recently it has signed a contract with Boeing company to purchase eight Boeing 777 aircrafts, which fall in the category of wide body aircraft and will fulfill the requirements of class one passengers Organizational value
PIA is very responsive towards its valued customers and customer responsiveness is embedded in the organization culture. It believes on the slogan that “Customers are the king”. It has continuously been offering special incentives and schemes for its customers like AWARD PLUS and many others. Initiation of telephonic reservation is also worth mentioning in this regard. Moreover the customers place suggestion boxes at its domestic and international counters to obtain helpful comments and constructive criticism. ➢ Organization philosophyPIA believes in competition. It believes that if an organization is capable of competing with the best in the industry, nothing can hinder its growth and success. ➢ Target market: PIA has always kept its market broad. If we compare its domestic and international route map over the period of time will come across that it has expanded its operations drastically to meet the needs of its customers.
The major function of the finance department is the reporting of all the financial events of all departments. All the departments in the organization give their reports to the finance department and it makes and presents the final report for the decision making purpose. The finance department gets all the documents and then compiles them in the form of a report. Collections are of different types....