Innova ITFIP Magazine

PLANNING AND FINANCIAL PROFITABILITY IN COMPANIES PROVIDING ELECTROSUMERGIBLE PUMPING SERVICES IN PDVSA, VENEZUELA

Rodrigo Daniel Gámez Pitre

Elizabeth Palma Cardoso

Luis Gerardo Beltrán Villalobos

DOI: https://doi.org/10.54198/innova07.05

Keywords: Financial planning, profitability, competitive, budget

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Abstract

The purpose of this article is to determine the relationship between financial planning and profitability in companies that provide Electrosubmersible Pumping services in the Moporo Field of PDVSA, Zulia state, Venezuela. For this, a descriptive, correlational research was carried out with a non-experimental field and transectional design, supported by the survey as an instrument which was applied to different people in the financial and managerial areas of the Baker Hughes, GE Company and Schlumberger companies. The investigation showed as a result that the companies mentioned above consider the budget of income and expenses in their planning, however, they have problems in considering the cash budget because they cannot control the amount they require to meet the ordinary needs of resources and cannot include the expected cash inflows for the specific financial period, it is also concluded that the companies actually consider the capital budget and profit budget to prepare long-term financial plans, in the same way it is observed that the profit margin and turnover of assets are calculated by companies to calculate the economic profitability, in the same way both the profit margin and the rotation of assets are studied to determine the financial profitability.Finally, it was obtained that financial planning and profitability have a weak relationship in the present study with a Pearson correlation value of 0.36.

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