PIA (PAKISTAN INTERNATIONAL AIRLINES)

INTRODUCTION

The Airline was established on 23 October 1946 as Orient Airways Ltd that was nationalized on 10 January

1955 and was renamed Pakistan International Airlines (PIA) Pia.com (2017). Pakistan international airline also

known as PIA or Pakistan international is representing the national flag of Pakistan. PIA main hubs include

Karachi, Lahore and Islamabad and Peshawar, Faisalabad, Multan and Quetta are secondary hub is written by

Tariq (2017).

PIA is operating booked flights to 23 domestic destinations and 30 international destinations to 27 countries

throughout North America, Europe and Asia etc. It is Pakistan’s largest airline with a fleet of more than 30

airplanes and at least 10 more on order by Tariq (2017).

PIA also started cargo service with the name of Pakistan International Cargo in 1974. On the other hand, PIA

also operating other businesses such as PIA sport, own Roosevelt hotel in New York City and hotel scribe in

Paris, Pia.com (2017). PIA offers and serves fresh meat and chicken to their passengers and also has contract to

their airlines as PIA has own poultry farm according to the Annual Report (2014).

Nevertheless, airline has getting loss since 2005 mentioned in table number 1. As per data in table 1, it is clear

that airlines fail to cope with company’s issues and could not able to achieve competitor advantage from a long

time. According to Dawn (2017), PIA’s amount of loss is Rs45 billion in 2016.

YEAR REVENUES PROFIT/(LOSS) 2006 70,587 (12,763)

(PKR in Million) (PKR in Million) 2005 64,074 (4,412)
2015 104,515 (34,995) 2004 57,788 2,307
2014 113,780 (34,006)
2013 95,771 (44,322)
PIA’s 87% share held by the government and 13%
2012 97,438 (33,844)
share owned by public. In 2015, government try to
2011 116,551 (26,767)
2010 107,532 (20,785) privatize the airline for the benefit of airline but
2009 94,564 (5,822) unfortunately did not successes because of
2008 88,863 (36,139)
excessive political interference written in Pia.com
2007 70,481 (13,399)
(2017).

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 BUSINESS MODEL CANVAS

According to the following table, PIA’s major Key Partner is Government Of Pakistan and hotel and poultry

Key Partners Key Activities Value Customer Customer

Passengers, Proposition Relationships Segments
aircraft Ground handling,
manufactures, baggage handling, Branding Low prices, update  First class
Govt. of aircraft maintainers, Low cost direct customer regarding  Business
Pakistan, service of passengers, flight to Pakistan, flight time, delays, class
Pakistan management services, Allow more cancellation via mail  Economy
international and control security baggage and text, facilities class
airport, Operates an for disable
codeshare extensive two- customers, awards
airlines, month Haj and plus facilities
Roosevelt hotel, Key Resources Umrah each year Channels
hotel scribe,
gas, water &  Infrastructure  Online
electricity  Staff  Airports
suppliers, fuel  Management  Travel agents
enterprises, software system telephone
inflight food
companies
Cost Structure Revenue Streams
Taxes, salaries, software, infrastructure maintenance, Passengers, cargo, additional baggage,
training, operations cost and depreciation airport taxes, travel agencies, revenue
from hotels, PIA sport, PIA’s Hub
business, which could help to maximize revenue. Other Revenue Streams are cargo business, additional

charges for baggage, getting airport taxes for their services such as, parking, food, shopping. PIA also has sport

club where players are being trained and play nationally or internationally.

Customer Segmentation includes three section in which service are provide by their rank such as, in business

class passengers get more confortable seats and variety of food as compare to economy class. PIA offers low

prices and have tradition environment in the airports; further more, using advance methods to inform customers

regarding flights times and delays etc. by online or text massage is relate to Customer Relationship.
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 LIST OF COMPANY’S PROBLEMS

 PIA is facing challenges in terms of financial deficiencies, poor leadership, lack of maintenance and

discrimination

 In airline, every sector has corruption

 Flights are normally cancelled or delayed, do not have proper arrangement in emergency, terrible

service, dangerous landing etc.

 Fleets are very old and many planes out of service because of shortage of spare parts and poor

maintenance.

 The value of Pakistan’s currency is down day-by-day which effects badly when fuel prices increase.

 Inefficient infrastructure

 PIA recruit staff more then airlines needs and demand. Almost every aircraft has double staff members

then its requirement.

 In PIA airlines, a major issue is correct and right worthy person does not occupy the position.

 The age and performance of aircraft is calculated by their flight time where many old crafts have no

proper record in accounts of PIA.

 Airline bought planes on lease from abroad of which maintenance cost is very high.

 PIA has no tight security at airports and checkpoints.

 Monitoring is very week. At landing time, tyre blast and leakage of fuel is normal

 Nobody stands responsibility. Pilots are considered responsible in emergency situations as well as

weather. Faulty instruments and mechanical failures are the significant causes.

 Employees are not motivated, as they know their jobs are permanent.

 Too much political interference is resulted bad and weak decisions.

 Airports in Pakistan are not able to be called international level airport

 No new technology in planes, at parking spaces, getting luggage points etc.

 Airports are mostly in populated cities therefore hazards for landing and taking off are high. Birds’ hits

are a common phenomenon

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 MAIN BUSINESS PHENOMENON

After The Consideration Of All Business Issues Of PIA’s Airline, It has been Decided That The Main Business

Phenomenon Of Company Is

“A Continuous Failure Of Leadership”

WHY IS THIS MAIN BUSINESS PHENOMENON

A continuous failure of leadership is a main business phenomenon for PIA airlines because leaders required

thinking, acting according to situation and influencing others in different ways that belongs to success of the

company. In the PIA’s situation, mostly problems are happened because of poor leadership, wrong decisions,

failure of controlling, lack of training, insufficient understanding between company and environment etc.

BUSINESS PROBLEM RELATE TO STRATEGIC THINKING

“Strategic Thinking is a planning process that applies innovation, strategic planning and operational planning

to develop business strategies that have a greater chance for success” by Rothaermel (2017).

In the case of PIA’s airlines, there are no innovation happened from last few years, not a single decision has

been made for the growth of airline, poor management is the reason of poor service, security and checking of

fleets is not enough which is the result of many incidents and accidents (death of thousand of passengers and

crew members), PIA’s staff and pilots are not hired according the requirement and some are old enough to took

a sick leave very often, executives and chairmen are not taking responsibility to cope the problems and try to

solve these issues and start thinking about competitive advantage.

As PIA is a Pakistan’s flag carrier airline and leaders are not only failed to run the airline, they are also

responsible for damage of whole country’s reputation especially, in terms of security, terrorism, money

laundering, death of thousands of people etc.

LITERATURE REVIEW

PIA has Strategic Issues that are also called as long-term problems. As stated in table no 1 that company has

been facing loss since 2005 while company’s revenue were increasing but company has failed to gain profit.

The figure of loss has been increasing dramatically.

According to The Guardian, (2017), Provident Financial Group has lost its stock market value in a day with

cost of £1.7bn because of leadership failure. Peter crook, ex chief executive of PFG has changed the business
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model but did not test the model to make sure weather this new model would be constructive for company or

not? The company cancelled the dividend, loss customers’ trust, and damage company goodwill, increases bad

debts just because of poor leadership or wrong leadership decision.

Another example of poor leadership is blackberry that was the most popular mobile phone with large keypad

email device along with camera. Badly failed after the launch of iPhone in 2007 according to Jeff (2017). CEO

of company made mistake to not consider the importance of apple superior technology and did not focus on

their new strategy and took step forward to research and development. At that point, company’s leaders had to

have thought about long-term capability of its current business model and had to prevent the feeling of been

fool in front of Apple, as Apple would have ability to change the mobile game in future said by Jeff (2017).

Anna (2013) written in her article about Enron Company might be the worst example of corrupt leadership. As

many executives of Enron were found guilty for their corrupt actions and misleading to many departments

especially to audit section are now obliging prison sentences for a long period of time.

Another example written in (Rothaermel 2017) book is about JetBlue, this airline stuck in the middle just

because of its poor strategy and decision-making. JetBlue was famous airline and was getting competitor

advantage from many years. When new failed badly when new leader tries to combine cost leadership strategy

and differentiate strategy together.

On the other hand, amazon.com is a big example of good leadership and corporate strategy as amazon.com now

became huge market and compete with Wal-Mart. At this time, amazon’s annual sales are nearly $100 billion.

From these examples, it has been proved that no matter how you are good in strategy and leadership, the

important is how you implement the strategy and get the positive results.

Frameworks:

As we found many examples of other companies who has same business problem to PIA’s issues. To do the

deep analysis of PIA’s business problem and find out how these problem could be solved and what is the reason

for this business phenomenon.

To achieve this purpose, SWOT, PESTLE and Porter’s five forces model would be used as frameworks.

SWOT ANALYSIS:

SWOT analysis was created by management consultant Albert Humphrey in 1960s. SWOT analysis is

combination of four factors in which two factors explain company’s internal environment while another two
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elements expalain external situation of company. Such as strengths and weakness are use for internal analysis

and opportunities and threats used for external analysis (lucid chart, 2017).

When SWOT Analysis Used:

 SWOT anlysis is used for business planning and strategic planning.

 When company is getting a outsourcing service, activity or any kind of resources.

 When business has opportunity to invest

 When company doing competitor analysis

 When business doing marketing and research

 When company planning to develop a product or service

 Etc.

PESTLE ANALYSIS:

PESTLE analysis created by Harvard professor Francis Aguilar. In 1967, he introduces ETPS scanning tool in

his book that was tweaked later as PEST. PESTLE analysis is very famous tool to identify the external elements

such as political, economical, social, technical, legal and environmental issues (Mind tool, 2013).

The PESTLE analysis allows the company to do proper investigation of external environment in order to update

their system and improve their service regularly by asking these types of questions: (eBooks, 2013)

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When a pestle analysis used:

When launching a new product or service in market

When planning to enter in a new country or state

When making a plan to grow your market or add new route in business model

When willing to get experienced or doing strategic project team job

The process of PESTLE when using it:

1. Company have to make a list of all issues, which are not in organisation control also called as

Brainstorm issues

2. Second step is to understand each issue and identify how to implement

3. Next step is to allocate ranks to each issue. Such as which one is certainty, which one is potential etc.?

4. Fourth point is to assess what are the chances to happen these issues time by time.

5. Final step is regarding the implication. How and when application would make if theses issue happened.

PORTER’S FIVE FORCES MODEL:

Porter five forces model is a competitive analysis were developed by Michael E porter in 1979 based on five

competitive forces: new entrants, bargaining power of buyers, bargaining power of suppliers, substitute of

products and services and competitive rivalry. Through the porter’s five forces analysis, business or company

would able to make strategic decisions, could compete with their competitors and able to gain competitor

advantage in industry.

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When porter five forces used:

 Porter’s five forces model is used when any business or company makes decisions about industry

external environment.

 When company getting loss and fail to achieve competitor advantage.

 When company is planning to enter new market or introduce new product and service.

 When company is planning to apply new strategy to compete with its rivalry. Such as cost leadership

strategy or differentiate strategy.

 When company is planning to change or update its business model.

What is the purpose of these tools?

Swot, Pestle And Porter Five Forces frameworks have been used to analysis PIA’s situation in airline industry.

The purpose of these tools is to find out company’s internal condition as well as external condition.

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On the other hand, Pestle framework is very helpful to judge and compare the airline with environment.

Company should expert in their forecasting and familiar of arriving trends and culture. Beside this, this analysis

tells the leaders about new technology and all legal right that is beneficial for success of company.

Alongside, Porter’s Five Forces tell how to sustain company’s position in market and what steps should take to

handle the competitors’ strategy? To which suppliers’ managers should approach? How to add value in their

services so company can offer the customers and compete with threat of substitute as well.

Why are using these tools:

Swot Analysis has been used to identify the strengths and weaknesses of company so that leaders could cope

and manage them however, to understand the condition of company in market place and understand the

opportunities of business and threats of business so leaders would be able to make appropriate decision.

On the other hand, Pestle framework put impact between market and company relationships in terms of

knowing about future changes and what could be happened incoming time. This framework is very helpful to

make strategic decisions on time and get ready for competitors.

Last but not least, Porter’s Five Forces has been used to analysis the Company’s Business Phenomenon. To

achieve the competitor advantage, it is most important to aware of industry’s different shape. Through this

framework, leaders and management of PIA’s airlines would able to cope with new entries in this industry and

offer new services to their customers and make new agreement for their suppliers and finally, utilised their skill

to make the difference between their services and others services.

Technical Analysis:

Based on the frameworks that are explained in literature review is now time to do technical analysis of PIA

airline. In this section, complete detail of SWOT analysis; PESTLE analysis and Porter’s Five Forces analysis

is written based on PIA information.

Swot analysis:

Strengths:

Strengths of PIA include monopoly in Pakistan, Government hold maximum shares, operating other business

such as owns hotels and poultry farms, offers cheap local flights and frequents international flights etc. PIA is

standing and operating till now just because of its strengths. Foe example, major strength for PIA is government

support. Because of GOV. airline able to offer cheap rate to customers, getting best from suppliers and manage
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its other business. In PIA flights passengers enjoy the traditional environment and very comfortable to

communicate in their mother language.

Weakness:

Corruption is a big weakness in PIA airline. Because of corruption, leaders are fail to maintain the company’s

accounts and could be able to build strong structure. Amount of debts are increasing with the passage of time as

wrong decisions were made. Use of resources is not efficient especially human resources. Staff is hired more

than required and pay the salaries and give them benefits are reason of weak structure of PIA. On the other

hand, salaries are not given according to position for example; engineers are getting more salary then pilots.

High interference of GOV. and free travelling to GOV. persons are other drawbacks in PIA.

Opportunities:

Even PIA has many weaknesses but airline has opportunities as well. The first opportunities for PIA are new

market for Boeing aircraft. PIA has big advantage to use its Boeing planes in other international routes to

maximize revenue. Further more, PIA need to sale its old crafts or replaced them to new crafts because many

PIA planes are out of use and depreciate every day. Beside this, PIA has to think critically to buy fleets. Airline

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has to buy fleets on discount rather then on lease. A negative opportunity is that customers are start using

national airline because of racism. Last but not least, PIA has maximum routes as compare to its competitors.

Threats:

There are many threats of PIA airline include, high interest rate, strong competition with air blue, money

devaluing, technical failure, many accidents and incidents happened, fuel prices fluctuate and terrorism etc. PIA

has major threat is technical failure at the time of landing. Many planes crash during last years just because of

poor maintenance of fleets and technical problem as the result thousand of passengers and crew staff had been

passed. Further more, people are now afraid of PIA flights and airline fail to maintain its customers trust. Other

threat is terrorism; embassy took long time to accept visa and people around the world are stopped to visit

Pakistan.

Pestle Analysis:

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Political analysis:

The very first political issue in Pakistan is war between government and judiciary. Because of this problem,

PIA has stuck in middle and facing delays in management decisions. On the other hand, government is not

stable in Pakistan, which means PIA has not stable position. Government hold the maximum share of PIA’s

airlines that’s why too much political interference is in every sector of airline. To get rid of this problem,

government tried to privatize PIA in 2015, but does not successes because of political party and staffs strike.

Last but not least, if the government change then higher management of PIA also change which does not

beneficial for company.

Economical analysis:

Firstly, interest rates in Pakistan are very high and investors are not happy to invest in PIA airlines. Current

liabilities are increasing dramatically because amount of capital decline. While, decreasing inflation rate is

another issue for PIA that is decreased from last many years and expected to decrease in future. As a result,

buying power of customers is also decrease because PIA revenue directly depends on the customers’ income.

On the other hand, international economical factors also effect on Pakistan market such as increase in fuel

prices means increase the ticket rates and when customers are facing currency devaluation in country then it is

vey hard for them to travel.

Social analysis:

People in Pakistan is now more educated and aware of their rights and well known about market conditions.

They can find the best prices and best deals that are other airlines offer and get the package, which is suitable

for them. Now, customers consider the service satisfaction rather then to travel by national airline. Further

more, majority of people in Pakistan are migrate to other countries because of less opportunities in Pakistan and

use their nation airline to visit their family in their home country. Another positive social factor of PIA airlines

is people are travelling more for Hajj & Umrah every year. And PIA has best deals and package for those

people would increase the revenue of PIA.

Technological Analysis:

In terms of technology, PIA needs to improve their all sectors in order to compete with their competitors. For

example, Air blue has new airbuses for international flights that are narrow body jets. Where as, Boeing

aircrafts that PIA owns are considered a fuel eater who make loud sound that is very uncomfortable for
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passengers during flight. Government of Pakistan is put extra attention towards new railways tracks and

introduce modern system. And this would be the threat for PIA’s cargo business. In positive way, PIA has

online system to book ticket, check the flight status, cancel or change the date of booked reservation. Last but

not least, because of advance technology and satellite system could allow people to communicate with their

family any time, any where at very cheap rates would be stopped people for travelling to meet their families.

Environmental Analysis:

Pakistan airports are mainly located near the city or residential area could make reason of noise and air

pollution. As Boeing planes are big support of PIA but they required more fuel then usual aircraft that means

more heat in environment. Further more, PIA is getting more business from UK market but UK has very

unpredictable weather, as Europe weather would result delay in flights or in emergency situations flights could

be cancelled.

Legal Analysis:

PIA has been warned for their technical failures during flights by The International Air Transport Association

(IATA) and according to the law, if airline would fail again technically at the time of take-off would have to

pay fines for their behaviour. On the other hand, Civil Aviation Authority (CAA) facing problems to approve

the law for personal travelling in air by general public. Further more, PIA is charging too much for

rescheduling and refunding for tickets in short period of notice as compare to its rivalry. On the other side, PIA

system is centralizes which means every decision is very time consuming. For the benefit of PIA, many

important decisions have to take on time any urgently but, centralizes system is huge hurdle between PIA’s

good performance and leadership. Many opportunities have been lost because of long decision-making process.

Last but not least, different countries laws and rules affects on PIA’s revenue. International airports make

changes in taxes and apply different charges for airports.

Porter’s Five Forces Analysis:

Bargaining power of customers:

Customer power is medium in case of PIA. As PIA offer cheap prices for domestic flights and frequent routes

available for international flights that’s why PIA is getting more customers as compare to its competitors. In

Pakistan other private airlines are operating like air blue but PIA has strong support of government and because

of government power PIA successfully reduce the cost and attract the customers. On the other hand, to travel
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abroad the alternative is only sea and no one want to travel by sea so that’s the other reason PIA has moderate

power of customers.

Bargaining power of suppliers:

PIA key suppliers are airports, oil companies and aircraft makers such as Boeing and Airbus. And Government

of Pakistan take complete part to negotiate with suppliers and fix the best deal for PIA. For example, oil

companies already giving oil to PIA airline on credit and has huge debts for airline but still working with airline

just because of Government involvement.

Threat Of Substitute:

Substitute for domestic flights is railways and Daewoo bus and for international flights there are others airlines

operating such as air blue. In both situations, PIA is taking high position because at national level the rates and

tickets prices are very high as compare to PIA flights rate. On the other hand, PIA offer direct flights to
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Pakistan from other countries like UK and also offer maximum number of flights and routes for international

passengers would result to minimize the threat of substitute.

Threat Of New Market:

Airline required high amount of capital to start, which is the reason of low threat new market for PIA. Further

more, Pakistan market is very limited and no one start new market without government permission.

Competitive Rivalry:

PIA airline has strong position in market because of government support. PIA follow the cost focus strategy

and differentiate strategy to compete its competitors. Airline offer cheap rates for local passengers and

international passengers as well. No doubt, there is no comparison between PIA and other airlines in terms of

services and facilities. But passengers consider the prices rather then facilities. On the other hand, passengers

feel very comfortable because of traditional environment. Many people cannot speak English so they prefer

PIA for travelling and PIA serve halal food that is an example of differentiate strategy.

Recommendation:

Based on critical analysis, following recommendation are given:

Control Politics:

Politics should be control within all sectors of airlines. Because of political interference, leaders are not able to

take proper decisions and management are failing to improve the service. On the other hand, unnecessary staff

is hire just because of government references.

Reduce Overhead Costs:

PIA is getting loss ever year. Airline has to consider their expenses and revenue statements and should reduce

overhead costs. For example, buying international aircrafts those fuel consumption is high and also

maintenance cost is high should stop buying. While, salaries should reduce by fire unnecessary and

unmotivated staff.

Improve Service:

PIA should improve their services as it is represent a whole country and poor service would damage the

reputation of Pakistan. Airline needs to change the internal system of controlling and monitoring of employees.

Update the system of check in and check out and make the luggage point easy and manageable.

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Recruit On Merit:

All staff includes pilots, engineers, technicians, managers, cleaners, security members, immigration staff etc.

should hire on merit basis. No personal or high authority references would be acceptable for any kind of job

position. This change would help to improve service, reduce corruption and favouritism.

Regular Training Employees:

Regular training is very important for all employees. Train them according to system and when leaders make

new decision and bring change in the system then employees have to know about change clearly and act

according to the instruction.

Effective Fleets Buying:

Buying aircrafts is very sensitive and expensive decision for any airline. In PIA’s condition, fleets should not be

purchase on lease basis as they are very costly and airline spend heavy amount on their maintenance.

Improve Security System:

PIA airline needs to improve security system because this is very important for the reputation of company and

safety of passengers and staff. Proper machines should fixed to scan the luggage and all people who come to

airport and go out.

Airports At Right Place:

In Pakistan, airports are not located in suitable place. Airport between or near the city is dangerous and unsafe

for people as well as threatening in time of landing. On the other hand, build the airport with large space of

parking and have enough sitting space with restaurants where visitors can wait or passengers can wait in the

situation of delayed flights.

Introduce Advance Technology:

In planes of PIA and at airports, there is no proper advance technology in use. PIA should install new system in

luggage point so passengers can see every detail. Also in parking space where in digital monitor people can see

where is the space is empty. In plane, LED screen has all advance function so that passenger can enjoy their

journey.

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Aircrafts Monitoring Regularly:

Many accidents and incidents happened with PIA planes just because of less monitoring. PIA can save their

cost of crash planes and lives of many people to maintain their fleets and check all necessary function at daily

basis. Such as, tyre pressure, fuel leakage, engine, internal system etc.

Medical Check-ups:

PIA should do regular medical check ups for all staff and pilots as well. As, staff of PIA went on sick leave

very often. Very old employees are working in airline those who are not medically fit for the job and is just

liability of business. While, fitness for pilots are as important as success of business.

Conclusion:

After the detailed analysis of PIA using three different framework I would like to conclude that PIA has been

getting loss since 2005 and loss the market share just because of uncontrollable costs. PIA is only national

airline of Pakistan and has many strengths and opportunities in airline. But Government is involved in every

decision the reason of failed PIA’s strategies. The ratio of expenditures are far more then amount of revenue. If

PIA consider its opportunities and act according to the situation then it would be possible to achieve maximum

share price. On the other hand, PIA has growing market and has great advantages as compare to its competitors.

PIA just needs to update company’s system and recreate business model to stable financially. Further more,

airline lost its reputation because of accidents and incidents in which thousand of passengers and crew staff lost

their lives. As PIA is flag carrier airline and represent the whole country in all around the world. That’s why it

is very essential for airline to look after their fleets regularly and would not be happened any technical fault in

aircrafts that result as a dangerous accident. On the other hand, PIA has extra employees that make payroll

account high.

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Limitation of frameworks:

All frameworks which is used to analysis the PIA’s main Business Phenomenon are mostly used tools and

famous for its qualities. On the other hand, there are still some limitations of frameworks, which have to be

discussed:

Limitation of SWOT:

 To do a swot analysis, leaders could not find out the sequences of problems.

 Swot analysis is very simple and to the point framework. It takes complex situations and challenges

very normally and not able to deep analysis. Such as, outsource for company’s IT department.

 Swot analysis does not tell that how to solve the problem and to suggest any other way to cope the issue.

 Through swot analysis you can only get a lot of ideas and thoughts but it is hard to find out which one is

best.

 Because of swot analysis, leaders could be confused between data they achieve because not all the

information is relevant and useful.

 To do swot analysis, experts have a selected circle. And they have to work within the limited outline.

Limitation of PESTEL:

 External factors change quickly. Some times these changes occur with in a day, so it is very hard to

make tricky decision and predict future.

 Pestle analysis only focus on external factors and completely forget the internal factors which are also

very important for company’s success.

 Collecting the right and accurate data from reliable sources is a big problem and it is very time

consuming and expensive as well.

 To do a pestle analysis, required large amount of information that is difficult to handle and users get

stuck in the middle and start making assumptions.

 Pestle analysis is required large number of people to work according to their knowledge skills. At the

end, every one has different scenario and different suggestions would be a problem to company to take

right decision.

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Limitation of porter’s five forces:

 In today’s dynamic markets it is not appropriate to focus on static market that leads to porter’s five

forces model.

 Porter’s five forces model only used to analysis at industry level. This model could not be used for

multi- industry corporation.

 This model put emphasis on the external factors and ignores the importance of other individual

elements.

 That time when porter invented five forces model was very change as compare to current time. This is

why this model is not appropriate in some industry and do not take corporate responsibilities and not

able to deal with complex relationships.

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[new york]. Available From: Bookshelf Online.
2.

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Http://Www.Piac.Com.Pk/PIA_About/Profiles/2014/PIA-Annual-Report-2014-23052015.Pdf
(Accessed 20 November 2017).
4. PIA.COM, 2017 [ONLINE] Available Through: Http://Www.Piac.Com.Pk/PIA_About/Pia-
About_History.Asp (Accessed 20 November 2017).
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