[KSCI] Korea Science Citation Index Service

http://dx.doi.org/10.7782/IJR.2013.6.4.131

Financial Decline of Pakistan Railways and Prospective Turnaround

Ch., Kashif Farooq (Muhammad Javed Anwar. Central Superior Services of Pakistan)

Publication Information

International Journal of Railway / v.6, no.4, 2013 , pp. 131-138 More about this Journal

Abstract

We have studied the financial performance of Pakistan Railways and found that the financial indicator (net earnings ratio) of Pakistan Railways is consistently decreasing over the years, causing severe financial and operational crises. The implication of our study indicates that the '3Rs' Strategy (retrenchment, repositioning and reorganizing) should be put into practice and furthermore, favorable changes in environmental factors can also contribute towards organizational turnaround. This study would help the Government of Pakistan to think and plan more clearly about turnaround strategies that could improve the performance and growth of Pakistan Railways.

Keywords

Pakistan Railway; Financial highlights; 3R's Strategy;

Citations & Related Records

Reference

1	Arogyaswamy, K., Barker, V. L. and Yasai-Ardekani, M. (1995). "Firm Turnarounds:an Integrative Two Stage Model," Journal of Management Studies, pp. 493-525.
2	Audit General of Pakistan. (2005-6, 2006-7, 2007-8, 2008-9). Audit Reports.
3	Boyne, G. and Meier, K. (2005). "Good Luck and Good Management and Organisational Turnaround in the Public Sector," CLRGR Papers in Public Policy and Service Improvement,
4	Boyne, G. A. (2010). A '3Rs' Strategy for Public Service Turnaround; Retrenchment, Repositioning and Reorganization.
5	Boyne, G. (2006). "Strategies for Public Service Turnaround : Lessons from the Private Sector?," Administration and Society, pp. 365-88.
6	Bruton, G., Athlstrom, D. and Wan, J. (2003). "Turnaround in East Asian Firms: Evidence from Thnic Overseas Chinese Communities," Strategic Management Journal, pp. 519-40.
7	Dawley, D., Hoffman, J. and Lamont, B. (2002). "Choice Situation, Refocusing and Post Bankruptcy Financial performance," Journal of Mangement, pp. 695-717.
8	Glynn, J. and Murphy, M. (1996). "Public Management, Failing Accountabilities and Failing Financial Performance Review," International Journal of Public Sectore Management, Vol. 9, No. 5, pp. 13-27.
9	Hitt, M., Bierman, L., Shimizu, K. and Kochhar, R. (2001). "Direct and Moderating Effect of Human Capital on Strategy and Financial Performance in Professional Services: A Resource Based Respectives," Academy of Management Journal, Vol. 44, pp. 13-28. DOI ScienceOn
10	Hoffman, R. (1989). "Strategies for Corporate Turnaround: What Do We Know About Them?," Journal of General Management, Vol. 14, pp. 46-66. DOI
11	Morrow, J. J. and Busenitz, L. (2004). "The effect of cost and Asset Retrenchment on Firm Financial Performance:the Overlooked Role of a Firm's Competitive Environment," Journal of Management, pp. 189-208.
12	Feagin, A. O. (n.d.). A case for case study. Chapel Hill, NC: University of North Carolina Press.
13	Raghuram, G. (2007). "Turnaround of Indian Railways: A critical appraisal of strategies and processes," Indian Institute of Management Working Papers no 2007-02-03, Indian Institute of Management, Ahmedabad.
14	Railway Gazette. http://www.Railwaygazette.com/news/single-view/view/crisis-at-Pakistan- Railways.html.
15	Robbins, K. and Pearce, J. (1992). "Turnaround: Retrenchment and Recovery," Strategic Management Journal, Vol. 13, pp. 287-309. DOI ScienceOn
16	Schendel, D., Patton, G. R. and Riggs, J. (1976). "Corporate Turnaround Strategies: A Study of Profit, Decline and Recovery," Journal of General Management, Vol. 33, pp. 3-12.
17	World Bank Report http://go.worldbank.org/7CYYM39VG0.
18	Skaggs, B. and Youndt, M. (2004). "Strategic Positioning, Human Capital and Financial Performance In Service Organisations: A Customer Interaction Approach," Strategic Management Journal, Vol. 25, pp. 85-99. DOI ScienceOn