Auditing Strategic Management of Cathay Pacific
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MGMT 436 Strategic Management (MGMT 436)
Added on 2019-10-31
Auditing Strategic Management of Cathay Pacific
MGMT 436 Strategic Management (MGMT 436)
Added on 2019-10-31
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Running head: STRATEGIC MANAGEMENTAuditing Strategic Management of Cathay PacificName of the StudentStudent IDName of UniversityAuthor Note
2STRATEGIC MANAGEMENTTable of Contents1.Executive Summary:................................................................................................................42. History of Cathay Pacific.............................................................................................................43. Situation at Cathay Pacific:.........................................................................................................54. Mission and Vision Statement Analysis:.....................................................................................6Background................................................................................................................................15Mission......................................................................................................................................15Vision.........................................................................................................................................155. Corporate Governance:..............................................................................................................17FACTORS.................................................................................................................................20WEIGHT....................................................................................................................................20RATING....................................................................................................................................20WGTD SCORE.........................................................................................................................20COMMENTS.............................................................................................................................20SWOT........................................................................................................................................27FACTORS.................................................................................................................................27WEIGHT....................................................................................................................................27RATING....................................................................................................................................27Weighted....................................................................................................................................27SCORE......................................................................................................................................27
3STRATEGIC MANAGEMENTCOMMENTS.............................................................................................................................27TOWS........................................................................................................................................304. Mission and Vision Statement Analysis:...................................................................................33Conclusion:....................................................................................................................................37References......................................................................................................................................38
4STRATEGIC MANAGEMENT1.Executive Summary:The following report is going to audit the organizational and corporate strategy of CathayPacific. There are different segments of the audit. These are the analysis of vision and missionstatement of the company, situation analysis of Cathay Pacific and external and internal analysisof the organization. With the help of TOWS and different situational analytical tools, the audithas been authenticated. The situation analysis comprises of both the organizational and productquality and the provision of service that is considered within the market. Being a flagship wingof the organization in Hong Kong, the company delves into the process of continuous servicedevelopment plan. This is how in most of the cases, the corporate governance, organizationalstructure and external and internal characteristic traits of the company has been audited withprofound study. 2. History of Cathay PacificCathay Pacific has been the flag carrier of Hong Kong for nearly seventy long years. Theoperations of the airlines along with its subsidiaries have been transporting cargo and passengersto around 180 destinations in 44 countries across the globe inclusive of the joint ventures andcodeshares. The airline was incorporated on 24th September, 1946 by American Roy C. Farrellalong with Australian Sydney H. de Kantzow, with each of them investing HK$1 for registrationof the airline. The airline was able to make the world’s first non-stop transpolar flight flying overthe region of North Pole in the month of July, 1998 that was stated to be the maiden flightarriving at the then International airport of Hong Kong.
5STRATEGIC MANAGEMENTIn the year 2010, Cathay Pacific became the world’s largest airline of international cargo,added with the main hub Hong Kong International Airport as the busiest cargo traffic airport ofthe world. Cathay Pacific has been an award winning and globally apparent airline, beingrewarded with the “World’s Best Airline” award for four times along with constantly beingranked as one of the best airlines existing in the world. On the month of September 28, 2006, theairline endured shareholding repositioning under which Dragonair became a wholly ownedsubordinate though it continued to operate under its own brand name. Cathay Pacific’sacquisition of Dragonair meant gaining more admittance to the constrained, yet fast growingmarket of Mainland China along with having more opportunities of the sharing of resources. Cathay Pacific has always been recognized as a company that has set the standard of theindustry through the service it provides, playing a major role in strengthening the links of HongKong to other global hubs through the regular services to Los Angeles, New York, London andSydney along with augmented frequencies to other destinations.3. Situation at Cathay Pacific:Cathay pacific has been playing a commanding role in strengthening the position of HongKong as the global hub of aviation and the main gateway to the Chinese Mainland, leveraging itsvast network in enhancing the flow of traffic in business, cargo and tourists. Cathay pacific ismore dedicated towards the technological brilliance for its services and products. Under thepresent circumstances, Cathay pacific has been trimming down costs in certain ways; like lastyear they announced that they would clean-up their aircraft on less frequent basis. The airline isalso looking towards shifting some of its regional itineraries to Cathay Dragon, like it has beendoing with its flights of Kuala Lumpur.
6STRATEGIC MANAGEMENTThe main motive of Cathay Pacific is to frame a faster as well as leaner structure of theorganization with cutting down of some of the jobs that are not required anymore within theorganization. Certain new jobs would be created with some others need to be redefined.Moreover it is planning on shortening its program of fuel-hedging along with revamping itsworkforce as an integral part of the new strategy of business to arrest the earnings slide. Cathay Pacific does possess number of strengths that has been facilitating the company inenhancing its competitive situation and developing the performance of its market. The companydoes boast of larger fleet of contemporary aircrafts across the globe. The modern fleet has beencontributing to the high dependability along with the protection of the flights that is beingoffered by the company as the cases of repair needed by the aircrafts are a rare affair. Moreover,the company requires renewal along with expansion. As the company look towards thepurchasing of new fleets it should be requiring extensive amount of funds which would be costlyfor the company. However, if the company fails in purchasing new aircrafts it would reduce theirquality of service along with late delivery of the cargo and the passengers. Despite all these,under the current circumstances, Cathay Pacific has bigger opportunities in developing of itsbusiness in successful manner. 4. Mission and Vision Statement Analysis:A vision or mission statement is stated to be the tools of motivation that has the ability toencourage the employers along with the employees in attaining their goals. It has the ability infacilitating their customers to understand the seriousness and reliability of their organization interms of attaining their mission. These statements are generally been used as the depiction oftheir company illustrated in words, it displays the ways the company operates and things they
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