budgeting E-Book Basic definations i. A budget is a detailed quantitative plan for acquiring and using financial and other resources over a specified forthcoming time period. 1. The act of preparing a budget is called budgeting. 2. The use of budgets to control an organization’s activities is known as budgetary control. Difference between planning and control i. Planning involves developing objectives and preparing various budgets to achieve those objectives. ii. Control involves
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insolent subsidiary of deeply indebted Malaysian Conglomerate. Airline had only two planes. Tony Fernandes was a former managing director of Warner Musics Malaysian Operator. He assembled a group of small investors to buy AirAsia for 26 cents. AirAsia was known to have a first low fare in Asia. With in seven months of operation they all repaid all its debts. AirAsia earn $8 million of profits on sales of $66 million. AirAsia now can accommodate 20 cities with as low as $16 from kuala lumpur to senang
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STRATEGIC MANAGEMENT (PMS 3393) ‘AIR ASIA’ Prepared by: Ahmad Izzuddin Bin Ahmad Zamri (4102005781) HaslindaBinti Ismail (4092008911) MohdAzuan Bin MohdAbdKadir (4102008091) Muhammad Khairil Anwar Bin Othman (4102004441) Nur An-NisaBintiRahmat (4071032881) SitiAisyahBintiMohdYusoff( 4102001031) SitiKhajirahBinti Abdul Aziz (4092008931) Prepared for: Dr. HafsahBinti Ahmad Submission Date: 22nd November 2012 Table of Content
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has certainly helped make the airline a household name. Yet‚ barely eight years ago when it began operations‚ Air Asia had just two planes and a host of obstacles - Sars and the Sept 11 terrorist attacks included that preventing it from taking off. Today‚ the Malaysia-based budget airline boasts a fleet of 80 aircraft that ply over 122 routes‚ with 480 flights to more than 65 destinations daily. Group CEO Tony Fernandes has been instrumental in building the Air Asia brand. Known for its strong marketing
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little to compete with Airasia. ii) High capital requirement. The industry of airline needs large volume of start-up capital. The cost of setting up of offices‚ buying or leasing aircraft‚ hiring pilots and other staffs like air stewardess and etc incur a high start-up cost. Thus‚ the threat is low for Airasia. iii) Different product offered. Airasia offers different product compared to other competitors in Asia like Bangkok Airways‚ Tiger Airways‚ and Air Philippines. Other than the passenger
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management accounting techniques that AirAsia can apply in their organisation to enable them to sustain its competitive advantage as Asia’s leading low cost carrier (LCC). In this report‚ it’s also stated types of new management accounting technique and the important of these techniques. Besides‚ this report also explain in detailed about balanced scorecard for example‚ the definition‚ person that responsible in introduce this techniques and how this technique can be apply in the organisation and help the
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and selling of leisure airline tickets‚ hotel rooms‚ rental cars‚ cruises‚ vacation packages and even home mortgages. Since launching its business‚ priceline.com has sold millions of airline tickets‚ hotel room nights‚ and rental car days. Priceline.com is the patented Internet pricing system that enables consumers to achieve significant savings by naming their own price for goods and services. Priceline.com takes consumer offers and then presents them to sellers who can fill as much of that guaranteed
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Porters Five Forces Model & the Airline Industry Robert Warren 6/11/2011 Abstract Having conducted research on Porter’s Five Forces Model and the current business climate of the airline industry‚ I will be analyzing the industry using the Five Forces Model. Porter’s Five Forces model is a highly recognized framework for the analysis of business strategy. Five forces are derived from the model that attempts to determine the competitive intensity‚ competitive environment and overall
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meaning A budget (from old French bougette‚ purse) is a financial plan and a list of all planned expenses and revenues. It is a plan for saving‚ borrowing and spending.[1] A budget is an important concept in microeconomics‚ which uses a budget line to illustrate the trade-offs between two or more goods. In other terms‚ a budget is an organizational plan stated in monetary terms. In summary‚ the purpose of budgeting is to: 1. Provide a forecast of revenues and expenditures‚ that is‚ construct
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analysis of this kind. Third‚ despite culture-sensitivity of HRM practices‚ their impact on employees is similar to what has been previously documented by researchers in the UK and the USA. It is left to further studies to debate whether HRM outcomes can be termed as universal. • culture-sensitive • HRM • international management • national culture • Pakistan This article analyzes in detail the national culture of Pakistan‚ and compares both multinational and local indigenous organizations
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