Strategic Goals And Goals Of Lufthansa Group

1- What are the goals of Lufthansa group? And explain the two strategies the company is using?

The Lufthansa Group is the world’s leading aviation group. Its portfolio of companies consists of network airlines, low-cost carriers and aviation service companies. They operate one of the biggest aircraft fleets in the world, and are market leader with their services companies in their respective industries.

The Lufthansa Group’s objective is to be the first choice for customers, employees, shareholders and partners. Seven fields of action have been defined to reach these goals, in which strategic steps are to be implemented across all segments in the years ahead, under the title “7to1 – Our Way Forward”.

Increasing company value, profitable growth

First strategy is customer satisfaction and a focus on quality secure customer loyalty:

1- The Lufthansa Group will focus even more sharply on customer orientation in all of its operating segments.

2- Key building blocks for this development are continuous investment in quality, as well as products and services tailored even more closely to individual customers.

3- Passengers’ in-flight experience is also undergoing improvements on board the state-of-the art aircraft fleet. These extensive investments in the airlines’ in-flight products enable the Lufthansa Group to differentiate itself better from the competition.

4- Lufthansa Passenger Airlines aims to be the first western airline with a five-star quality standard.

5- Lufthansa Technique has reorganized its sales structure to enable it to offer its global customers more individual services across different products in future, and to keep growing in the highly competitive MRO market.

Second strategy is new concepts create profitable growth:

1- The strategic development and of each individual operating segment, range from organic growth to strategic

Financial statements result from simplifying, condensing, and aggregating masses of data obtained primarily from the financial system. They are an output of the accounting system.

Generally, GAAP require consolidated financial statements from parent companies that own or control subsidiary companies or have controlling interests in joint ventures and strategic partnerships.

The ultimate benefit of consolidated financial statements:

1- Ease of understanding and analysis of a company's financial condition for investors, creditors, vendors and anyone else who needs to know how secure the company is with respect to being able to pay its bills and continue as a profitable enterprise.

2- They can be manipulated to hide financial problems.

3- The IASB is also working to create definitions and rules that will make evaluation easier and more reliable when examining the financial reports of foreign companies and companies with offshore subsidiaries. http://www.ehow.com/about_5685728_importance-consolidated-financial-statements.html 3- What are the most important market that the company focus on? And how do the deal with