Management: Cathay Pacific Airways Limited
Management: Cathay Pacific Airways Limited
Cathay Pacific Airways Limited is a Hong Kong-headquartered international airline company that offers passenger and freight transport services across various world countries. The firm has been successful and is one of the largest and most profitable international airports worldwide today.
The success and growth of Cathay Pacific Airways can be analyzed using the SMART (Specific, Measurable, Achievable, Realistic and Timed) model which applies in drawing strong business objectives to optimize chances of realizing them (Marketing Teacher, 2013). Cathay Pacific Airways has succeeded over the years, realizing its goals of growth and profitability (In Financial, 2013; Cathy Pacific, 2012).
The company can achieve increased growth and stability by capitalizing on the opportunity it has of opening operations in other world nations such as African and South American countries. It should set up specific goals, defining what departments are going to embark on the pursuit of the targets and how the specific objectives will be achieved. The firm’s goals should also be relevant to the business and their achievement should accrue the company increased growth.
Accordingly, the firm should be careful in selecting what new destinations to expand to, to ensure improved profitability. The airline firm’s goals should also be easily measurable to determine the extent to which they have been achieved. This can be done by examining whether or not the new destinations have increased the firm’s profitability and number of passengers carried.
Moreover, the goals should be time-bound. For example, the firm should set a three-month timeframe within which it should have profitably opened operations in three new destinations. Setting up and pursuing relevant and strong objectives will augment the firm’s competitive advantages such as service diversity, a good reputation and partnership with leading airlines such as Air China and Swire Pacific confer it competitive advantages (Cathy Pacific, 2012). All in all, setting clear, achievable goals and investing in their realization will enable the airline to augment its position in the industry.
References
Cathy Pacific. (2012). Sustainable Development Report. Retrieved 6 April, 2013 from
http://www.cathaypacific.com/cpa/en_INTL/aboutus/sd/sdreport
In Financial. (2013). Cathy Pacific Airways Limited: Financial Analysis. Retrieved 6 April,
2013 from http://www.infinancialsanalytics.com/en/financial%20analysis,Cathay%20Pacific%20Airways%20Ltd.,00501FH.html
Marketing Teacher. (2013). Smart Objectives. Retrieved 6 April, 2013 from
http://www.marketingteacher.com/lesson-store/lesson-objectives.html
