Attitudes towards employees:
Employee benefit Wages, Salaries, Annual Leave and Sick Leave
The organization maintains these expenses on an prepayment basis. They are therefore accounted for after they fall due. This therefore implies that they are partially reflected in the books of accounts of the period concerned. In effect the report reflects the payments due for services up to the final day of the reporting period.
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Employee Share Plans, Long Service Leave, Long Service Leave
The net value of the amount due and payable to all the employees is reflected as an expense to the employees corresponding to an increase in the organizations equity. The amount due is measured and evaluated for the period within which it is unconditionally payable. With the exceptions of un-qualifying shares the amount is recognized in whole of the total entitlements.
Defined Contribution Superannuation Plans, Defined Benefit Superannuation Plans and Employee Termination Benefit
The organization adopts an individualistic strategy that makes single and individual computations for each plan. The present value of future benefits its therefore calculated by discounting the future benefits at a discounting rate that is a balance on the maturity dates of government bonds.
This incorporates the projected unit credit method by a certified auctorial. if benefits that accrue to every employee increase the amount is distributed on a straight line basis implying that the employee will receive an amount of the increase immediately it falls due. This increase is also reflected in the company’s consolidated income statement of the reporting period.
The past service costs on the other hand are measured as the growth in the present value of the permanent or fixed benefits that the employee is entitled to in previous and current periods.
Attitudes towards Customers:
Aircraft configuration meeting customer demand
Like any other business the company has over the past few years faced a great increase in the number of customer as well as consumer needs. The company has therefore made a structural adjustment by increasing the number of aircraft to take care of the addition al capacity. Growing consumer demands have also forced the company to adjust the seating arrangements to improve the customer service experience. This also ensures that the customer service level meets international standards.
Qantas provide their customer to combine points from flying, credit and debit card spend and retail spend into single account
The technological trend in the airline industry has favored the use of plastic money. Amidst the pertinent and obvious structural concerns, the credit card system has ensured convenience security and flexibility in transactions specifically in the transport sector. Passengers get to earn points as a form of motivation and marketing for every flight they take. The points can either be based on the mileage traveled or the amount spent. The points my be used to upgrade a ticket or purchase products at the convenience of the customer.
Qantas services their customer by another brand of aircraft which is called Jetstart’s
The diversity of the consumers goes requires the company to make provision for all levels of income earners. The company has taken advantage of the low income segment by partnering with a smaller airline that offers alternative cheaper but equally quality service. This falls in line with the price segmentation strategy in consumer marketing
Caring for customer
Customer care s a fundamental and important aspect of a business. It offers a basis and rationale for the formulation of the companies strategies and policies. The company has made an initiative to ensure that their customers are satisfied and assisted in every possible means. It has engaged consumer service surveys to measure the performance and effectiveness of their customer care. This has generated alternative consumer satisfaction strategies that will allow the company to grow and offer better service ( Qantas annual report, 2010).
Attitudes towards competitors:
Higher performance in every thing
The transport sector has over the last two decades grown to become among the most competitive volatile and revolutionary sector in the world economy. The situation is even more aggressive in the private sector with every company seeking a piece of the large consumer base.
The company therefore has a competitive and visionary attitude towards its competition. It has installed strategic mechanisms that constantly review the companies performance ratings as against its competitors to ensure that it remains in front or at least on the front line.
It is every customers requirement that their means of transport be safe and reliable. The government as well as industrial requirements for safety are clear and strict. The airline has therefore given paramount importance to its safety precautions and guaranteed its customers an ultimately safe experience. It has invested in health safety programs such as health surveillance monitors that ensure that the customers along with the employees operate in a safe environment.
Training and development
The airlines employee base attracts a variety of professional limits that allows the labor force to benefit from a wide range of skills. Majority of these employees are based locally and are therefore easily accessible to the company.
Updating market needs
A pertinent characteristic of the contemporary consumer market is the changing preferences and tastes. It is therefore important for every company to constantly redefine and re- evaluate its consumer needs data to ensure that it keeps abreast with the recent trends. The airline has responded to the changing consumer needs by simplifying and easing the check in experience.
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Strong complementary Brand
In a market full of substitutes a company needs to diversify its portfolio to increase the chances of consumer following. The company has therefore partnered with an alternate smaller airline that allows it to access the low fare market. This makes sure that it maintains a presence in all areas and segments of the market
Qantas annual report. (2010) The Sum. Web. Web.