Meninges Function and Layers, and Health Problems

Classroom Managment from a Teacher´s Point of View Essay...

As a secondary English teacher, I hold some important tenets in regards to running a high school classroom as smoothly as possible. My foremost belief lies within the importance of embracing the diversity of my classroom. Another essential notion of mine is the magnitude of deadlines. One last thought I wish to discuss in this paper is the importance of respect amongst everyone in a classroom. I understand that the aforementioned tenets will be worthless I if I do not devise ways in which to make them a reality in my own classroom. nbsp;nbsp;nbsp;nbsp;nbsp;Diversity, as defined by both our class and the dictionary, is differing from one another, or unlike. By embracing the differences amongst myself and all of my students, a more†¦show more content†¦Deadlines are a common factor all of these share. By accepting excuses as to why my deadlines are not met, I will not be enforcing this tenet. So, I will be very clear as to what I am expecting, and more importantly, when I am expecting it. In college, one may lose credits because deadlines are not met. In a career, one may lose his/her job because deadlines are not being met. It is my responsibility as a high school teacher to prepare my students of this harsh reality. nbsp;nbsp;nbsp;nbsp;nbsp;Respect is my third conviction for my future English high school class. Not only is it important for my students to respect me as their teacher (and visa versa), but also it is even more important that they respect each other. When a decent amount of respect is given and maintained, my students will gain a sense of comfort in the classroom. In order for a classroom to be a positive learning environment, this comfort zone must be established. Respect is the deep-rooted factor affecting open communication, upstanding relationships, and a positive learning community. nbsp;nbsp;nbsp;nbsp;nbsp;One tenet is not enough to run a high school class smoothly. Even three tenets are still insufficient. However, I will mold the rest of the necessary doctrines around these three important beliefs of mine. Classroom management also relies heavily upon trial and error. I realize that I need to teach and manage each class on anShow MoreRelatedProject Managment Case Studies214937 Words   |  860 PagesResearch Group 70 Cortez Plastics 71 L. P. Manning Corporation 72 Project Firecracker 74 56 CONTENTS Phillip Condit and Boeing 777: From Design and Development to Production and Sales 81 AMP of Canada (A) 105 AMP of Canada (B) (see handout provided by instructor) AMP of Canada (C) (see handout provided by instructor) Lipton Canada 118 Riverview Children s Hospital 124 The Evolution of Project Management at Quixtar 145 3 PROJECT MANAGEMENT CULTURES 151 Como Tool and Die (A) 153 Como

Ratio Analysis Free Essays

string(98) " so that a meaningful interpretation could be made through inter-firm and intra firm comparisons\." Though there are innumerable literatures available on the subject, the most appropriate studies have been reviewed. Dr. Promod Kumar published a book in 1991 â€Å"Analysis of financial statement of Indian Industries† The study covered the 17 private sector, 5 state owned public sector and 1 central public sector companies. We will write a custom essay sample on Ratio Analysis or any similar topic only for you Order Now He studied analysis of activities, assessment of profitability, return on capital investment, analysis of financial structure, analysis of fixed assets and working capital. In his research he revealed various problems of industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. 1Ahindra Chakrabati published an articles â€Å"Performance of public sector enterprises a Case study on fertilizers† in â€Å"The Indian journal of public enterprise† in the year 1988-89. He made analysis of consumption and production of fertilizer by public sector; he also made analysis of profit and loss statement. He gave suggestion to improve the overall performance of public enterprise. In the year of 2002, Dr. Sugan C. Jain has written a book on â€Å"Performance appraisal automobile industry† In his study he has analyses the performance of the automobile industry and presented comparative study of some national and international units. The operational efficiency and profitability had been analyzed using the composite index approach. He made several suggestions from the st rengthening the financial soundness improving profitability, working capital the performance of fixed assets. 3 Recently in the year 1998 a study was made by S. J. parmar on â€Å"Financial Efficiency-Modern methods, tools Techniques† for the period from 1998-89 to 1994-95. He had made an attempt to analyze financial strength, liquidity, profitability, cost and sales trend and social welfare trend by using various ratios analysis, common size analysis and value added analysis. He made several suggestions for the improvement of profitability of industry. In his analysis, he indicates various reasons for higher cost, low profitability, and inefficient use of internal resources. Dr Sanjay Bhayani published a book in 2003, â€Å"Practical financial statement analysis† The study covered 16 public limited cement companies in private sector. He made study of analysis of profitability, working capital, capital structure and activity of Indian cement industry. In his research he revealed various problems of cement industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques o f cost control. Ram Kumar,Kakani Biswatosh saha and V. N. Reddy has written research paper on Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study. This paper attempts to provide an empirical validation of the widely held existing theories on the determinants of firm performance in the Indian context. The study uses financial statement and capital market data of 566 large Indian firms over a time frame of eight years divided into two sub-periods (viz. 1992-96, and 1996-2000) to study Indian firms’ financial performance across various dimensions viz. , shareholder value, accounting profitability and its components, growth and risk of the sample firms. It reveals that even on the same data, the determinants of market-based performance measures and accounting-based performance measures differ due to influence of ‘Capital Market Conditions’. We found that size, marketing expenditure, and international d iversification had a positive relation with a firm’s market valuation. Apart from these firm attributes that reflect either operating parameters of firms or ‘strategic choice’ of firm managers, we also found that a firm’s ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Public Shareholders, and the leverage of the firm were important factors affecting its financial performance. The different implications of the findings for various stakeholders of a firm are also discussed. 6Dutts S. K has written an article on â€Å"Indian tea industry an appraisal† which was published in Management accountant in the year of March 1992. He analyzed the profitability, liquidity and financial efficiency by using various ratios. 7 Objectives of the study  · To evaluate the financial performance of the selected units of Pharmaceutical industry  · To compare the financial results of the Pharmaceutical industry as Dr Reddy’s Laboratories Ltd and Lupin Ltd  · To enquire the adequacy or the accounting information desired from the statement in conformity with laid down accounting statements by the institute of Chartered Accountants of India (ICAI).  · To study the growth of the said companies To give suggestion for best financing method and efficient utilization of fixed assets METHODOLOGY OF THE STUDY: Source of the data: â€Å"Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India† has been made by using data from financial statements of all five major players in cement industry, they are – Dr Reddy’s Laboratories Ltd. (Dr. RDL), Ambuja L upin Ltd. (LL), the period of the study was ten years from 2001 to 2010. The data was collected from cpitaline database and from the annual reports of the respective companies. Hypothesis for the study: For the present study tested following null hypotheses are tested-  · Ho1: The Dr Reddy’s Laboratories Ltd. did not achieve better profitability than Lupine Ltd.  · Ho2: The Dr Reddy’s Laboratories Ltd. did not achieve better liquidity than Lupine Ltd.  · Ho3: The Dr Reddy’s Laboratories Ltd. did not achieve better turnover than Lupine Ltd. Scope of the study: the study Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India. The study therefore includes financial structure performance, working capital performance, and Profitability performance but excludes non-financial areas such as production, marketing, personnel and R D from its purview. Techniques used for analysis: The data have been analyzed with the help of ratio analysis, trend analysis, common size analysis-T test to test the relation among different ratios of two selected companies. Limitation of the study: In order to facilitate uniformity in data, years have been readjusted and the data have been recast as on 31st March of each year. The figure taken from the annual reports have been rounded off to two decimals of rupees in crores. The data available in financial statements have been translated in to a pre-designed structure format so that a meaningful interpretation could be made through inter-firm and intra firm comparisons. You read "Ratio Analysis" in category "Papers" The format in which the data have been classified is selected after careful consideration of the operation Pharmaceutical Companies. Nevertheless, the limitations do in no way act as a deterrent in drawing effective and meaningful inferences from the study Analysis of the data: for knowing Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India the commonly used ratio: fixed Gross profit, Net profit, Return on capital employed, Return on Net worth and Earning per share, Current ratio, Debtors Velocity (Days), Creditors Velocity (Days), Debt equity ratio and Interest coverage ratio, Inventory turnover Ratio, Debtors Turnover Ratio and Total Assets Turnover Ratio Analysis and interpretation: Table-1 Profitability Ratios of Dr Reddy’s Laboratories Ltd Lupine Ltd. Gross profit Net profit ROC RON EPS Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. 2001 22. 16 9. 25 19 6. 65 31. 5 23. 02 29. 23 31. 13 45. 32 201. 66 2002 33. 1 12. 49 32. 39 7. 54 42. 06 16. 64 45. 71 22. 07 59. 56 17. 42 2003 30. 78 12. 2 28. 34 7. 3 26. 44 16. 05 24. 02 20. 3 50. 6 17. 44 2004 21. 55 19. 07 20. 4 12. 48 15. 61 27. 1 14. 7 36. 14 36. 37 23. 76 2005 7. 9 9. 77 9. 19 6. 96 2. 19 12. 75 2. 77 17. 79 7. 85 20. 09 2006 16. 27 16. 29 14. 12 11 9. 24 20. 86 8. 57 31. 93 26. 82 44. 61 2007 37. 06 16. 27 32. 39 10. 53 35. 94 19. 39 35. 47 27. 89 69. 45 36. 75 2008 21. 63 19. 27 18. 47 13. 53 12. 01 23. 85 10. 35 32. 02 27. 2 52. 31 2009 21. 77 18. 28 17. 8 14. 17 13. 55 22. 29 11. 14 30. 97 32. 25 48. 22 2010 28. 77 21. 56 23. 52 17. 7 17. 79 25. 6 15. 14 33. 23 48. 25 70. 7 Total 240. 99 154. 45 215. 62 107. 86 206. 33 207. 55 197. 1 283. 47 404. 09 532. 96 Average 24. 099 15. 445 21. 562 10. 786 20. 633 20. 755 19. 71 28. 347 40. 409 53. 296 Min 7. 9 9. 25 9. 19 6. 65 2. 19 12. 75 2. 77 17. 79 7. 85 17. 42 Max 37. 06 21. 56 32. 39 17. 7 42. 06 27. 1 45. 71 36. 14 69. 45 201. 66 Sources: Data has been taken from annual reports The gross profit ratio of Dr. RDL was 22. 16 % in 2001 which went down in to 7. 9% in 2005 but it rose up to 28. 7% in last years of the study period. The ratio ranged between 7. 9% in 2005 to 37. 06% in 2007. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 24. 09% indicated. The gross profit ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 15. 45%. The ratio was the highest in the year of 2010 and very lowest 2001. T-test T-Test: Calculated value of gross profit ratio is 2. 86 Tabulated value at 5% significant value=1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The Net profit ratio of Dr. RDL was 19% in the year of 2001 and increased to 32. 39% in the year of 2002. The ratio went down to 28. 34% in year of 2003. The ratio was very low of 9. 19% during the year of 2005 and very highest during the year of 2002. The average ratio was 21. 56% with fluctuated trend. The Net profit ratio of Lupin Ltd. was 6. 65 % in 2001 which went down in to 6. 96% in 2005 but it rose up to 17. 7% in last years of the study period. The ratio ranged between 6. 65% in 2001 to 17. 7% in 2010. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 10. 78% indicated. T-test Calculated value of net profit ratio is 4. 01 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The return on capital employed ratio was 31. 5% in 2001 which went down to 9. 24 % in the year of 2006 and also went down to 13. 55% and 17. 79 during the years of 2009 and 2010 respectively. The ratio ranged between 2. 19% in year of 2005to 42. 06% in the year of 2002. The ratio showed down ward trend with an average of 20. 63%. The return on capital employed of Lupin Ltd was showing much fluctuated trend during the year study period. The average ratio was 20. 76 in the Lupin Ltd which showed fluctuated trend during the study period. The ratio was 23. 02% in year of 2001 and 20. 86% in year of 2006 and 25. 6% during the last year of study period. The ratio has gone down due to decreased in volume of sales. The sales have gone down since price rise took place in market. T-test Calculated value of return on capital employed ratio is 0. 028 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. The Return on net worth ratio of Dr. RDL was 29. 3% in 2001 which went down in to 8. 57% in 2006 but it rose up to 15. 14% in last years of the study period. The ratio ranged between 2. 77% in 2005 to 45. 71% in 2002. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was indicated19. 71%. The Return on net worth ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 28. 347%. The ratio ranged between 17. 79% in 2005 to 36. 14% in 2004. T-test Calculated value of Return on net worth ratio is 1. 84 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. Earnings per share of Dr. RDL were Rs. 45. 32 in the year of 2001 and Rs 59. 56 in the year of 59. 56. The EPS went down to 50. 6 in the year of 2003 and Rs 36. 37 in the year 2004 and Rs. 7. 85 in the year of 2005. The EPS rose to 69. 45 in the year 2007and again went down to 27. 62 in 2008. The EPS Rs. 48. 25 during the last year of study period. The average ESP was 40. 41 with downward trend during the study period. The EPS was 201. 66 in Lupin Ltd. and went down to 20. 09 in the year of 2005 and reached down to 70. 7 during the last year of study period. The EPS showed lower level of EPS due to less utilization of financial leverage. T-test Calculated value of Earnings per share is 0. 70 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. Table-2 Liquidity ratio of Dr. RDL and Lupin Ltd. Current ratio Debtors Velocity (Days) Creditors Velocity (Days) Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 1. 69 1. 82 48 47 76 27 2002 3. 09 1. 74 54 61 79 35 2003 4. 86 1. 58 60 62 82 36 2004 3. 73 1. 34 60 66 85 38 2005 2. 49 1. 1 60 56 90 34 2006 1. 5 1. 38 59 57 94 35 2007 2. 21 1. 68 66 63 105 38 2008 3. 05 1. 53 85 69 109 42 2009 3. 15 1. 24 79 77 110 45 2010 2. 44 1. 27 100 81 120 52 Total 28. 56 14. 68 671 639 950 382 Average 2. 856 1. 468 63 62 92 37 Min 1. 69 1. 1 48 47 76 27 Max 4. 86 1. 82 100 81 120 52 Sources: Data has been taken from annual reports In year 2001 Dr. RDL has 1. 69 as its current ratio and after that it continuousl y increased from 3. 09 to 4. 86 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves from 2. 21 to 3. 05 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 2. 85. In year 2001 Lupin Ltd has 1. 82 as its current ratio and after that it continuously decreased from 1. 74 to 1. 58 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 1. 68 to 1. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 1. 46. T-test Calculated value of current ratio is 4. 50 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. In year 2001 Dr. RDL has 48 days as its Debtors Velocity (Days) and after that it continuously increased from 54 (Days) to 60 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 66 days to 85 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 63 days. In year 2001 Lupin Ltd. has 47 days as its Debtors Velocity (Days) and after that it continuously increased from 61 (Days) to 62 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves up from 63 days to 69 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 62 days. T-test Calculated value of Debtors Velocity (Days) is 0. 3 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL 76 days as its Creditors Velocity (Days) and after that it continuously increased from 79 (Days) to 82 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 105 days to 109 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 92 days. In year 2001 Lupin Ltd. 27 days as its Creditors Velocity (Days) and after that it continuously increased from 35 (Days) to 36 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 38 days to 42 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 37 days. T-test Calculated value of Creditors Velocity (Days) is 10. 83 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Leverage Ratios of Dr. RDL Lupin Ltd. Table-3 Leverage Ratios of Dr. RDL Lupin Ltd. Debt equity ratio Interest coverage ratio Year Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. 2001 0. 56 1. 79 5. 05 2. 09 2002 0. 19 1. 88 34. 27 2. 55 2003 0. 01 1. 77 72. 27 2. 53 2004 0. 02 1. 24 72. 71 4. 89 2005 0. 08 0. 86 3. 82 4. 12 2006 0. 28 1. 18 10. 39 8. 6 2007 0. 19 1. 16 27. 29 8. 65 2008 0. 09 0. 83 40. 74 13. 99 2009 0. 11 0. 71 27. 62 2. 35 2010 0. 11 0. 47 68. 8 25. 97 Total 1. 64 11. 89 362. 96 85. 74 Average 0. 16 1. 19 36. 30 8. 57 Min 0. 01 0. 47 3. 82 2. 09 Max 0. 56 1. 88 72. 71 25. 97 Sources: Data has been taken from annual reports The Debt equity ratio of Dr. RDL was 0. 56 in 2001 which went down in to 0. 28 in 2006 but it went down to 0. 11 in last years of the study period. The ratio ranged between 0. 01 in 2003 to 0. 56 in 2001. The ratio showed highly fluctuated trend during the study period. The average Debt equity ratio was indicated 0. 16. In year 2001 Lupin Ltd. 1. 79 as its Debt equity ratio and after that it continuously decreased from 1. 8 to 1. 77 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 1. 16 to 0. 83 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 19 days. T-test Calculated value of Debt equity ratio is 6. 28 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Interest coverage ratio of Dr. RDL was 5. 05 in the year of 2001 and Rs 3. 82 in the year of 2006. The Interest coverage ratio went up to 72. 7 in the year of 2003 and 72. 71 in the year 2004 and 3. 82 in the year of 2005. The Interest coverage ratio rose to 27. 29 in the year 2007and again went up to 40. 74in 2008. The Interest coverage ratio was 68. 8 during the last year of study period. The average Interest coverage ratio was 36. 30 with upward trend during the study period. In year 2001 Lupin Ltd. 2. 09 as its Debt equity ratio and after that it continuously decreased from 2. 55 to 2. 53 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 65 to 13. 99 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 8. 57. T-test Calculated value of Interest coverage ratio is 3. 13 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Table-4 Turnover ratio of Dr. RDL and Lupin Ltd. Inventory Turnover Ratio Debtors Turnover Ratio Total Assets Turnover Ratio Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 8. 65 11. 3 4. 76 5. 39 1. 03 1. 6 2002 9. 01 6. 61 4. 29 3. 06 0. 99 1. 32 2003 7. 44 7. 02 3. 64 2. 75 0. 92 1. 29 2004 6. 99 6. 74 3. 97 3. 89 0. 88 1. 7 2005 5. 79 5. 23 3. 78 5. 37 0. 85 1. 31 2006 5. 64 5. 95 4. 21 5. 69 0. 82 1. 28 2007 8. 69 5. 7 4. 94 4. 9 0. 75 1. 14 2008 6. 11 5. 08 3. 53 4. 7 0. 65 1. 09 2009 6. 16 4. 39 3. 66 4. 39 0. 64 0. 99 2010 5. 57 5. 13 3. 66 4. 51 0. 59 0. 94 Total 70. 05 63. 15 40. 44 44. 65 8. 12 12. 23 Average 7. 005 6. 315 4. 044 4. 465 0. 812 1. 223 Min 5. 57 4. 39 3. 53 2. 7 5 0. 59 0. 94 Max 9. 01 11. 3 4. 94 5. 69 1. 03 1. 6 Sources: Data has been taken from annual reports In year 2001 Dr. RDL 8. 65 as its Inventory Turnover Ratio and after that it continuously decreased from 9. 01 to 7. 44 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 69 to 6. 11 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 7. 01. In year 2001 Lupin Ltd. 11. 3 as its Inventory Turnover Ratio and after that it continuously increased from 6. 61 to 7. 02 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with ups and downs but it moves down from 5. 7 to 5. 08 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 6. 2. Calculated value of Inventory Turnover Ratio is 0. 72 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 4. 76 as its Debtors Turnover Ratio and after that it continuously decreased from 4. 29 to 3. 64 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 94 to 3. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 04. In year 2001 Lupin Ltd. 5. 39 as its Debtors Turnover Ratio and after that it continuously decreased from 3. 06 to 2. 75 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 9 to 4. 73 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 47. Calculated value of Debtors Turnover Ratio is 1. 21 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 1. 3 as its Total Assets Turnover Ratio and after that it continuously decreased from 0. 99 to 0. 92 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with downward movements but it moves down from 0. 75 to 0. 65 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 0. 81. In year 2001 Lupin Ltd. 1. 6 as its Total Assets Turnover Ratio and after that it continuously decreased from 1. 32 to 1. 29 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 1. 4 to 1. 09 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 22. Calculated value of Total Assets Turnover Ratio is 5. 34 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Summary findings and Conclusion The liquidity ratio of Lupin Ltd is highly threatening when compared with Dr. RDL. Thus Lupin Ltd has to control the current liabilities or to increase the current assets so that they can cover all the current liabilities and be in safer position. Thus slightly fluctuations in sales in that situation can not affect the paying capacity of the concern and thus maintain the credibility. The profitability ratio of Dr. RDL is better when it is compared with Lupin Ltd. It can be inferred from the result that Lupin Ltd can expand the business or can move further in newer directions as it is experiencing continuously growth in the profitability. Lupin Ltd has to give a fairer thought to reduce cost in providing services and increasing the turnover so that sustained growth in profitability can be seen Return on Net Capital Employed is the best test of overall profitability and efficiency of the business firm. A company with high rate of return on capital employed would be in a position to capitalize; e. g. it can take advantage of all favorable market opportunities. The study shows that returns on capital employed in selected units in India had marked a fluctuated trend. The average was 17. 79 and 25. 6 percent in units in India respectively. This ratio was satisfactory. On the whole Dr. DRL had the highest return net on capital employed of As compared to the Lupin ltd. In the light of the above discussion it is suggested that Lupin ltd should undertake cost control measure so that increase net profit before interest and taxes of the company might enhance the return on net capital employed. The solvency ratio also reveals the same track record of an upper hand over Lupin ltd. This position depicts the financial soundness or good financial health of the DR. RDL. In this sector Lupin ltd. has to work hard for providing the financial health in terms of capital also. The turnover ratio of Lupin Ltd. is showing better position when compared to DR. RDL. This fact proves that the market size in Lupin Ltd. s far more better than the DR. RDL which in turn is gearing its growth in all the stream. Thus DR. RDL has to work for increasing the market size and customer base so that it can achieve the trend of continuous growth. It can be inferred from the overall financial analysis that Lupin Ltd ltd. has to rethink and device the strategies so that it can lead to wards positive way and become the major players. Innovation though financial statement analysis can be seen though mergers and acquisitions and launching of new products and schemes so that enterprise can be proud of being major market players and setter newer and newer goals in the future. Cost accounting and cost audit should be made mandatory for this units and cost sheet along with annual financing statement should be prepared. The policy of borrowed financing in selected Parma group of companies under study was not proper. So the companies should use widely the borrowed funds and should try to reduce the fixed charges burden gradually by decreasing borrowed funds and by enhancing the owner’s fund. For this purpose companies should enlarge their equity share capital by issuing new equity shares. There has been too much of government interference in policy and day-to-day working and decisions. This leads to delays in decision-making. This should be abolished. There is no incentive to the employees to perform better. Also there is no accountability because no one is held responsible for a failure in achieving targets for this kind of problem responsibility centre should be created. Improper planning and delays in implementation of projects lead to rise in their cost. So properly planning should be made. To regularize and optimize the use of cash balance proper techniques may be adopted for planning and control of cash. The investments in inventories should be reduced and need to introduce a system of prompt collection of debts. Selected pharma companies should try to use properly their operating assets and should try to minimize their non-operating expenses. To conclude the study, it can be said that the adoption of above measures will doubtlessly help the selected companies to improve their overall performance in the management. With the efficient management of long term fund, selected companies can utilized their capacity optimally and accelerate economic growth of India by increasing the production of pharma product at reasonable cost. References. 1. Dr. Promod Kumar. â€Å"Analysis of financial statement of Indian Industries†Saujaniya Publication Ltd. 1992 2. Ahindra Chakrabati: â€Å"Performance of public sector enterprises a Case study on fertilizers† The Indian journal of public enterprise. 1988-89 3. Dr. Sugan C. Jain: â€Å"Performance appraisal automobile industry† Raj Publishing House, c2002. Jaipur, India 4. Parmar S. J. :â€Å"Financial Efficiency-Modern methods, tools Te chniques† Raj publication year of publication-2001 5. Dr Sanjay Bhayani: â€Å"Practical financial statement analysis† Raj publication,2003 6. Kakani, Ram Kumar, Saha, Biswatosh and Reddy, V. N. Nagi, Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study (November 2001). National Stock Exchange of India Limited, NSE Research Initiative Paper No. 5. 7. Dutts S. K has: â€Å"Indian tea industry an appraisal† Management accountant, March-1992 8. Brigham, Eugene. F and Joel F. Houston. â€Å"Fundamentals of Financial Management, Ninth Edition, Harcourt College Publishers, Fort Worth, 2001. 9. Review of Business Research, 2007 by Tarun K. Mukherjee, Prakash Deo. 10. Gitman, L. J. , â€Å"Principles of Management finance,† New York: Harper Row publishers,1982,p. 81 11. Paton Paton. , â€Å"Corporation Accounts and statements†, New York: Macmillan Company, 1964, p. 362. 12. Kulshreshtha, N. K. , â€Å"Analysis of Financial statements of Indian Paper industry†, Aligarh: Navman Publishing House, 1972, p. 133. 13. Kulshreshtha, N. K. , Op. cit. , p. 134. 14. Hunt W. and Donaldson, G. , †Å"Business Finance-text and cases†, Illinois: Richard D. Irwin, 1965, Pp. 114-115. 15. Roy Chowdhar, A. B. , â€Å"Analysis and Interpretation of Financial statements†, New Delhi Orient Longmans, 1970, p. 24. 16. Bogen, J. J. , â€Å"Financial Handbook† New Delhi: The Ronald press, 1957,p. 53. 17. Weston, J. F. and Brigham, E. F. , â€Å"Management finance†, New York: Holt, Rinehart and Winton, Inc, . 1972, p. 88. 18. Hingorani, N. L. and Raman than, A. R. , â€Å"Management Accounting†, New Delhi: Sultan Chand Sons, 1977,p. 115. 19. Srivastava, R. M. , â€Å"Financial Management†, Meerut India: Pragati Prakasjan, 1979, p. 476. 20. Westiwick, C. A. , â€Å"Management: How to use ratios†, Epping Essex: Grower Press Ltd. 1973,p. 5 21. Bogen, J. J. , Op. cit. Pp. 751-752. 22. Mohsin, M. , â€Å"Financial Planning and Control†; NewDelhi: Vikas publishing House Pvt. Ltd. , 1980, p. 174. 23. Kulshrestha, N. K. Op. cit. , 139. 24. HENDERSON, G. V. , Gurry, J. R. Trnnep Oh. , James E. Wirt. , â€Å"An Introduction to financial Management†, California: Addition-Wesley publishing company, 1984, p. 122. 25. Anthony, R. N. and Reece, J. S. , Op. , cit. , p. 198. 26. Information obtained through unstructured interviews from financial managers of the sample units though telephone. 27. Annual reports of selected cement company from 2003-04 to 2008-09 28. Kennedy, R. D. and Mcmullen, S. Y. , â€Å"Financial statements: Forms analysis and interpretation†, Illnois: Richard D. Irwin inc. 1964, p. 404. Information about this Article Peer-review ratings (from 2 reviews, where a score of 100 represents the ‘average’ level): Originality = 175. 00, importance = 162. 50, overall quality = 162. 50 This Article was published on 14th March, 2012 at 18:41:24 and has been viewed 2635 times. This work is licensed under a Creative Commons Attribution 2. 5 License. The f ull citation for this Article is: Kakkad, R. (2012). Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India-An empirical Analysis. PHILICA. COM Article number 318. How to cite Ratio Analysis, Papers Ratio Analysis Free Essays string(98) " so that a meaningful interpretation could be made through inter-firm and intra firm comparisons\." Though there are innumerable literatures available on the subject, the most appropriate studies have been reviewed. Dr. Promod Kumar published a book in 1991 â€Å"Analysis of financial statement of Indian Industries† The study covered the 17 private sector, 5 state owned public sector and 1 central public sector companies. We will write a custom essay sample on Ratio Analysis or any similar topic only for you Order Now He studied analysis of activities, assessment of profitability, return on capital investment, analysis of financial structure, analysis of fixed assets and working capital. In his research he revealed various problems of industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. 1Ahindra Chakrabati published an articles â€Å"Performance of public sector enterprises a Case study on fertilizers† in â€Å"The Indian journal of public enterprise† in the year 1988-89. He made analysis of consumption and production of fertilizer by public sector; he also made analysis of profit and loss statement. He gave suggestion to improve the overall performance of public enterprise. In the year of 2002, Dr. Sugan C. Jain has written a book on â€Å"Performance appraisal automobile industry† In his study he has analyses the performance of the automobile industry and presented comparative study of some national and international units. The operational efficiency and profitability had been analyzed using the composite index approach. He made several suggestions from the st rengthening the financial soundness improving profitability, working capital the performance of fixed assets. 3 Recently in the year 1998 a study was made by S. J. parmar on â€Å"Financial Efficiency-Modern methods, tools Techniques† for the period from 1998-89 to 1994-95. He had made an attempt to analyze financial strength, liquidity, profitability, cost and sales trend and social welfare trend by using various ratios analysis, common size analysis and value added analysis. He made several suggestions for the improvement of profitability of industry. In his analysis, he indicates various reasons for higher cost, low profitability, and inefficient use of internal resources. Dr Sanjay Bhayani published a book in 2003, â€Å"Practical financial statement analysis† The study covered 16 public limited cement companies in private sector. He made study of analysis of profitability, working capital, capital structure and activity of Indian cement industry. In his research he revealed various problems of cement industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques o f cost control. Ram Kumar,Kakani Biswatosh saha and V. N. Reddy has written research paper on Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study. This paper attempts to provide an empirical validation of the widely held existing theories on the determinants of firm performance in the Indian context. The study uses financial statement and capital market data of 566 large Indian firms over a time frame of eight years divided into two sub-periods (viz. 1992-96, and 1996-2000) to study Indian firms’ financial performance across various dimensions viz. , shareholder value, accounting profitability and its components, growth and risk of the sample firms. It reveals that even on the same data, the determinants of market-based performance measures and accounting-based performance measures differ due to influence of ‘Capital Market Conditions’. We found that size, marketing expenditure, and international d iversification had a positive relation with a firm’s market valuation. Apart from these firm attributes that reflect either operating parameters of firms or ‘strategic choice’ of firm managers, we also found that a firm’s ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Public Shareholders, and the leverage of the firm were important factors affecting its financial performance. The different implications of the findings for various stakeholders of a firm are also discussed. 6Dutts S. K has written an article on â€Å"Indian tea industry an appraisal† which was published in Management accountant in the year of March 1992. He analyzed the profitability, liquidity and financial efficiency by using various ratios. 7 Objectives of the study  · To evaluate the financial performance of the selected units of Pharmaceutical industry  · To compare the financial results of the Pharmaceutical industry as Dr Reddy’s Laboratories Ltd and Lupin Ltd  · To enquire the adequacy or the accounting information desired from the statement in conformity with laid down accounting statements by the institute of Chartered Accountants of India (ICAI).  · To study the growth of the said companies To give suggestion for best financing method and efficient utilization of fixed assets METHODOLOGY OF THE STUDY: Source of the data: â€Å"Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India† has been made by using data from financial statements of all five major players in cement industry, they are – Dr Reddy’s Laboratories Ltd. (Dr. RDL), Ambuja L upin Ltd. (LL), the period of the study was ten years from 2001 to 2010. The data was collected from cpitaline database and from the annual reports of the respective companies. Hypothesis for the study: For the present study tested following null hypotheses are tested-  · Ho1: The Dr Reddy’s Laboratories Ltd. did not achieve better profitability than Lupine Ltd.  · Ho2: The Dr Reddy’s Laboratories Ltd. did not achieve better liquidity than Lupine Ltd.  · Ho3: The Dr Reddy’s Laboratories Ltd. did not achieve better turnover than Lupine Ltd. Scope of the study: the study Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India. The study therefore includes financial structure performance, working capital performance, and Profitability performance but excludes non-financial areas such as production, marketing, personnel and R D from its purview. Techniques used for analysis: The data have been analyzed with the help of ratio analysis, trend analysis, common size analysis-T test to test the relation among different ratios of two selected companies. Limitation of the study: In order to facilitate uniformity in data, years have been readjusted and the data have been recast as on 31st March of each year. The figure taken from the annual reports have been rounded off to two decimals of rupees in crores. The data available in financial statements have been translated in to a pre-designed structure format so that a meaningful interpretation could be made through inter-firm and intra firm comparisons. You read "Ratio Analysis" in category "Essay examples" The format in which the data have been classified is selected after careful consideration of the operation Pharmaceutical Companies. Nevertheless, the limitations do in no way act as a deterrent in drawing effective and meaningful inferences from the study Analysis of the data: for knowing Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India the commonly used ratio: fixed Gross profit, Net profit, Return on capital employed, Return on Net worth and Earning per share, Current ratio, Debtors Velocity (Days), Creditors Velocity (Days), Debt equity ratio and Interest coverage ratio, Inventory turnover Ratio, Debtors Turnover Ratio and Total Assets Turnover Ratio Analysis and interpretation: Table-1 Profitability Ratios of Dr Reddy’s Laboratories Ltd Lupine Ltd. Gross profit Net profit ROC RON EPS Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. 2001 22. 16 9. 25 19 6. 65 31. 5 23. 02 29. 23 31. 13 45. 32 201. 66 2002 33. 1 12. 49 32. 39 7. 54 42. 06 16. 64 45. 71 22. 07 59. 56 17. 42 2003 30. 78 12. 2 28. 34 7. 3 26. 44 16. 05 24. 02 20. 3 50. 6 17. 44 2004 21. 55 19. 07 20. 4 12. 48 15. 61 27. 1 14. 7 36. 14 36. 37 23. 76 2005 7. 9 9. 77 9. 19 6. 96 2. 19 12. 75 2. 77 17. 79 7. 85 20. 09 2006 16. 27 16. 29 14. 12 11 9. 24 20. 86 8. 57 31. 93 26. 82 44. 61 2007 37. 06 16. 27 32. 39 10. 53 35. 94 19. 39 35. 47 27. 89 69. 45 36. 75 2008 21. 63 19. 27 18. 47 13. 53 12. 01 23. 85 10. 35 32. 02 27. 2 52. 31 2009 21. 77 18. 28 17. 8 14. 17 13. 55 22. 29 11. 14 30. 97 32. 25 48. 22 2010 28. 77 21. 56 23. 52 17. 7 17. 79 25. 6 15. 14 33. 23 48. 25 70. 7 Total 240. 99 154. 45 215. 62 107. 86 206. 33 207. 55 197. 1 283. 47 404. 09 532. 96 Average 24. 099 15. 445 21. 562 10. 786 20. 633 20. 755 19. 71 28. 347 40. 409 53. 296 Min 7. 9 9. 25 9. 19 6. 65 2. 19 12. 75 2. 77 17. 79 7. 85 17. 42 Max 37. 06 21. 56 32. 39 17. 7 42. 06 27. 1 45. 71 36. 14 69. 45 201. 66 Sources: Data has been taken from annual reports The gross profit ratio of Dr. RDL was 22. 16 % in 2001 which went down in to 7. 9% in 2005 but it rose up to 28. 7% in last years of the study period. The ratio ranged between 7. 9% in 2005 to 37. 06% in 2007. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 24. 09% indicated. The gross profit ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 15. 45%. The ratio was the highest in the year of 2010 and very lowest 2001. T-test T-Test: Calculated value of gross profit ratio is 2. 86 Tabulated value at 5% significant value=1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The Net profit ratio of Dr. RDL was 19% in the year of 2001 and increased to 32. 39% in the year of 2002. The ratio went down to 28. 34% in year of 2003. The ratio was very low of 9. 19% during the year of 2005 and very highest during the year of 2002. The average ratio was 21. 56% with fluctuated trend. The Net profit ratio of Lupin Ltd. was 6. 65 % in 2001 which went down in to 6. 96% in 2005 but it rose up to 17. 7% in last years of the study period. The ratio ranged between 6. 65% in 2001 to 17. 7% in 2010. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 10. 78% indicated. T-test Calculated value of net profit ratio is 4. 01 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The return on capital employed ratio was 31. 5% in 2001 which went down to 9. 24 % in the year of 2006 and also went down to 13. 55% and 17. 79 during the years of 2009 and 2010 respectively. The ratio ranged between 2. 19% in year of 2005to 42. 06% in the year of 2002. The ratio showed down ward trend with an average of 20. 63%. The return on capital employed of Lupin Ltd was showing much fluctuated trend during the year study period. The average ratio was 20. 76 in the Lupin Ltd which showed fluctuated trend during the study period. The ratio was 23. 02% in year of 2001 and 20. 86% in year of 2006 and 25. 6% during the last year of study period. The ratio has gone down due to decreased in volume of sales. The sales have gone down since price rise took place in market. T-test Calculated value of return on capital employed ratio is 0. 028 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. The Return on net worth ratio of Dr. RDL was 29. 3% in 2001 which went down in to 8. 57% in 2006 but it rose up to 15. 14% in last years of the study period. The ratio ranged between 2. 77% in 2005 to 45. 71% in 2002. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was indicated19. 71%. The Return on net worth ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 28. 347%. The ratio ranged between 17. 79% in 2005 to 36. 14% in 2004. T-test Calculated value of Return on net worth ratio is 1. 84 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. Earnings per share of Dr. RDL were Rs. 45. 32 in the year of 2001 and Rs 59. 56 in the year of 59. 56. The EPS went down to 50. 6 in the year of 2003 and Rs 36. 37 in the year 2004 and Rs. 7. 85 in the year of 2005. The EPS rose to 69. 45 in the year 2007and again went down to 27. 62 in 2008. The EPS Rs. 48. 25 during the last year of study period. The average ESP was 40. 41 with downward trend during the study period. The EPS was 201. 66 in Lupin Ltd. and went down to 20. 09 in the year of 2005 and reached down to 70. 7 during the last year of study period. The EPS showed lower level of EPS due to less utilization of financial leverage. T-test Calculated value of Earnings per share is 0. 70 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. Table-2 Liquidity ratio of Dr. RDL and Lupin Ltd. Current ratio Debtors Velocity (Days) Creditors Velocity (Days) Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 1. 69 1. 82 48 47 76 27 2002 3. 09 1. 74 54 61 79 35 2003 4. 86 1. 58 60 62 82 36 2004 3. 73 1. 34 60 66 85 38 2005 2. 49 1. 1 60 56 90 34 2006 1. 5 1. 38 59 57 94 35 2007 2. 21 1. 68 66 63 105 38 2008 3. 05 1. 53 85 69 109 42 2009 3. 15 1. 24 79 77 110 45 2010 2. 44 1. 27 100 81 120 52 Total 28. 56 14. 68 671 639 950 382 Average 2. 856 1. 468 63 62 92 37 Min 1. 69 1. 1 48 47 76 27 Max 4. 86 1. 82 100 81 120 52 Sources: Data has been taken from annual reports In year 2001 Dr. RDL has 1. 69 as its current ratio and after that it continuousl y increased from 3. 09 to 4. 86 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves from 2. 21 to 3. 05 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 2. 85. In year 2001 Lupin Ltd has 1. 82 as its current ratio and after that it continuously decreased from 1. 74 to 1. 58 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 1. 68 to 1. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 1. 46. T-test Calculated value of current ratio is 4. 50 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. In year 2001 Dr. RDL has 48 days as its Debtors Velocity (Days) and after that it continuously increased from 54 (Days) to 60 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 66 days to 85 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 63 days. In year 2001 Lupin Ltd. has 47 days as its Debtors Velocity (Days) and after that it continuously increased from 61 (Days) to 62 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves up from 63 days to 69 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 62 days. T-test Calculated value of Debtors Velocity (Days) is 0. 3 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL 76 days as its Creditors Velocity (Days) and after that it continuously increased from 79 (Days) to 82 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 105 days to 109 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 92 days. In year 2001 Lupin Ltd. 27 days as its Creditors Velocity (Days) and after that it continuously increased from 35 (Days) to 36 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 38 days to 42 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 37 days. T-test Calculated value of Creditors Velocity (Days) is 10. 83 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Leverage Ratios of Dr. RDL Lupin Ltd. Table-3 Leverage Ratios of Dr. RDL Lupin Ltd. Debt equity ratio Interest coverage ratio Year Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. 2001 0. 56 1. 79 5. 05 2. 09 2002 0. 19 1. 88 34. 27 2. 55 2003 0. 01 1. 77 72. 27 2. 53 2004 0. 02 1. 24 72. 71 4. 89 2005 0. 08 0. 86 3. 82 4. 12 2006 0. 28 1. 18 10. 39 8. 6 2007 0. 19 1. 16 27. 29 8. 65 2008 0. 09 0. 83 40. 74 13. 99 2009 0. 11 0. 71 27. 62 2. 35 2010 0. 11 0. 47 68. 8 25. 97 Total 1. 64 11. 89 362. 96 85. 74 Average 0. 16 1. 19 36. 30 8. 57 Min 0. 01 0. 47 3. 82 2. 09 Max 0. 56 1. 88 72. 71 25. 97 Sources: Data has been taken from annual reports The Debt equity ratio of Dr. RDL was 0. 56 in 2001 which went down in to 0. 28 in 2006 but it went down to 0. 11 in last years of the study period. The ratio ranged between 0. 01 in 2003 to 0. 56 in 2001. The ratio showed highly fluctuated trend during the study period. The average Debt equity ratio was indicated 0. 16. In year 2001 Lupin Ltd. 1. 79 as its Debt equity ratio and after that it continuously decreased from 1. 8 to 1. 77 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 1. 16 to 0. 83 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 19 days. T-test Calculated value of Debt equity ratio is 6. 28 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Interest coverage ratio of Dr. RDL was 5. 05 in the year of 2001 and Rs 3. 82 in the year of 2006. The Interest coverage ratio went up to 72. 7 in the year of 2003 and 72. 71 in the year 2004 and 3. 82 in the year of 2005. The Interest coverage ratio rose to 27. 29 in the year 2007and again went up to 40. 74in 2008. The Interest coverage ratio was 68. 8 during the last year of study period. The average Interest coverage ratio was 36. 30 with upward trend during the study period. In year 2001 Lupin Ltd. 2. 09 as its Debt equity ratio and after that it continuously decreased from 2. 55 to 2. 53 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 65 to 13. 99 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 8. 57. T-test Calculated value of Interest coverage ratio is 3. 13 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Table-4 Turnover ratio of Dr. RDL and Lupin Ltd. Inventory Turnover Ratio Debtors Turnover Ratio Total Assets Turnover Ratio Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 8. 65 11. 3 4. 76 5. 39 1. 03 1. 6 2002 9. 01 6. 61 4. 29 3. 06 0. 99 1. 32 2003 7. 44 7. 02 3. 64 2. 75 0. 92 1. 29 2004 6. 99 6. 74 3. 97 3. 89 0. 88 1. 7 2005 5. 79 5. 23 3. 78 5. 37 0. 85 1. 31 2006 5. 64 5. 95 4. 21 5. 69 0. 82 1. 28 2007 8. 69 5. 7 4. 94 4. 9 0. 75 1. 14 2008 6. 11 5. 08 3. 53 4. 7 0. 65 1. 09 2009 6. 16 4. 39 3. 66 4. 39 0. 64 0. 99 2010 5. 57 5. 13 3. 66 4. 51 0. 59 0. 94 Total 70. 05 63. 15 40. 44 44. 65 8. 12 12. 23 Average 7. 005 6. 315 4. 044 4. 465 0. 812 1. 223 Min 5. 57 4. 39 3. 53 2. 7 5 0. 59 0. 94 Max 9. 01 11. 3 4. 94 5. 69 1. 03 1. 6 Sources: Data has been taken from annual reports In year 2001 Dr. RDL 8. 65 as its Inventory Turnover Ratio and after that it continuously decreased from 9. 01 to 7. 44 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 69 to 6. 11 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 7. 01. In year 2001 Lupin Ltd. 11. 3 as its Inventory Turnover Ratio and after that it continuously increased from 6. 61 to 7. 02 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with ups and downs but it moves down from 5. 7 to 5. 08 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 6. 2. Calculated value of Inventory Turnover Ratio is 0. 72 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 4. 76 as its Debtors Turnover Ratio and after that it continuously decreased from 4. 29 to 3. 64 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 94 to 3. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 04. In year 2001 Lupin Ltd. 5. 39 as its Debtors Turnover Ratio and after that it continuously decreased from 3. 06 to 2. 75 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 9 to 4. 73 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 47. Calculated value of Debtors Turnover Ratio is 1. 21 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 1. 3 as its Total Assets Turnover Ratio and after that it continuously decreased from 0. 99 to 0. 92 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with downward movements but it moves down from 0. 75 to 0. 65 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 0. 81. In year 2001 Lupin Ltd. 1. 6 as its Total Assets Turnover Ratio and after that it continuously decreased from 1. 32 to 1. 29 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 1. 4 to 1. 09 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 22. Calculated value of Total Assets Turnover Ratio is 5. 34 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Summary findings and Conclusion The liquidity ratio of Lupin Ltd is highly threatening when compared with Dr. RDL. Thus Lupin Ltd has to control the current liabilities or to increase the current assets so that they can cover all the current liabilities and be in safer position. Thus slightly fluctuations in sales in that situation can not affect the paying capacity of the concern and thus maintain the credibility. The profitability ratio of Dr. RDL is better when it is compared with Lupin Ltd. It can be inferred from the result that Lupin Ltd can expand the business or can move further in newer directions as it is experiencing continuously growth in the profitability. Lupin Ltd has to give a fairer thought to reduce cost in providing services and increasing the turnover so that sustained growth in profitability can be seen Return on Net Capital Employed is the best test of overall profitability and efficiency of the business firm. A company with high rate of return on capital employed would be in a position to capitalize; e. g. it can take advantage of all favorable market opportunities. The study shows that returns on capital employed in selected units in India had marked a fluctuated trend. The average was 17. 79 and 25. 6 percent in units in India respectively. This ratio was satisfactory. On the whole Dr. DRL had the highest return net on capital employed of As compared to the Lupin ltd. In the light of the above discussion it is suggested that Lupin ltd should undertake cost control measure so that increase net profit before interest and taxes of the company might enhance the return on net capital employed. The solvency ratio also reveals the same track record of an upper hand over Lupin ltd. This position depicts the financial soundness or good financial health of the DR. RDL. In this sector Lupin ltd. has to work hard for providing the financial health in terms of capital also. The turnover ratio of Lupin Ltd. is showing better position when compared to DR. RDL. This fact proves that the market size in Lupin Ltd. s far more better than the DR. RDL which in turn is gearing its growth in all the stream. Thus DR. RDL has to work for increasing the market size and customer base so that it can achieve the trend of continuous growth. It can be inferred from the overall financial analysis that Lupin Ltd ltd. has to rethink and device the strategies so that it can lead to wards positive way and become the major players. Innovation though financial statement analysis can be seen though mergers and acquisitions and launching of new products and schemes so that enterprise can be proud of being major market players and setter newer and newer goals in the future. Cost accounting and cost audit should be made mandatory for this units and cost sheet along with annual financing statement should be prepared. The policy of borrowed financing in selected Parma group of companies under study was not proper. So the companies should use widely the borrowed funds and should try to reduce the fixed charges burden gradually by decreasing borrowed funds and by enhancing the owner’s fund. For this purpose companies should enlarge their equity share capital by issuing new equity shares. There has been too much of government interference in policy and day-to-day working and decisions. This leads to delays in decision-making. This should be abolished. There is no incentive to the employees to perform better. Also there is no accountability because no one is held responsible for a failure in achieving targets for this kind of problem responsibility centre should be created. Improper planning and delays in implementation of projects lead to rise in their cost. So properly planning should be made. To regularize and optimize the use of cash balance proper techniques may be adopted for planning and control of cash. The investments in inventories should be reduced and need to introduce a system of prompt collection of debts. Selected pharma companies should try to use properly their operating assets and should try to minimize their non-operating expenses. To conclude the study, it can be said that the adoption of above measures will doubtlessly help the selected companies to improve their overall performance in the management. With the efficient management of long term fund, selected companies can utilized their capacity optimally and accelerate economic growth of India by increasing the production of pharma product at reasonable cost. References. 1. Dr. Promod Kumar. â€Å"Analysis of financial statement of Indian Industries†Saujaniya Publication Ltd. 1992 2. Ahindra Chakrabati: â€Å"Performance of public sector enterprises a Case study on fertilizers† The Indian journal of public enterprise. 1988-89 3. Dr. Sugan C. Jain: â€Å"Performance appraisal automobile industry† Raj Publishing House, c2002. Jaipur, India 4. Parmar S. J. :â€Å"Financial Efficiency-Modern methods, tools Te chniques† Raj publication year of publication-2001 5. Dr Sanjay Bhayani: â€Å"Practical financial statement analysis† Raj publication,2003 6. Kakani, Ram Kumar, Saha, Biswatosh and Reddy, V. N. Nagi, Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study (November 2001). National Stock Exchange of India Limited, NSE Research Initiative Paper No. 5. 7. Dutts S. K has: â€Å"Indian tea industry an appraisal† Management accountant, March-1992 8. Brigham, Eugene. F and Joel F. Houston. â€Å"Fundamentals of Financial Management, Ninth Edition, Harcourt College Publishers, Fort Worth, 2001. 9. Review of Business Research, 2007 by Tarun K. Mukherjee, Prakash Deo. 10. Gitman, L. J. , â€Å"Principles of Management finance,† New York: Harper Row publishers,1982,p. 81 11. Paton Paton. , â€Å"Corporation Accounts and statements†, New York: Macmillan Company, 1964, p. 362. 12. Kulshreshtha, N. K. , â€Å"Analysis of Financial statements of Indian Paper industry†, Aligarh: Navman Publishing House, 1972, p. 133. 13. Kulshreshtha, N. K. , Op. cit. , p. 134. 14. Hunt W. and Donaldson, G. , †Å"Business Finance-text and cases†, Illinois: Richard D. Irwin, 1965, Pp. 114-115. 15. Roy Chowdhar, A. B. , â€Å"Analysis and Interpretation of Financial statements†, New Delhi Orient Longmans, 1970, p. 24. 16. Bogen, J. J. , â€Å"Financial Handbook† New Delhi: The Ronald press, 1957,p. 53. 17. Weston, J. F. and Brigham, E. F. , â€Å"Management finance†, New York: Holt, Rinehart and Winton, Inc, . 1972, p. 88. 18. Hingorani, N. L. and Raman than, A. R. , â€Å"Management Accounting†, New Delhi: Sultan Chand Sons, 1977,p. 115. 19. Srivastava, R. M. , â€Å"Financial Management†, Meerut India: Pragati Prakasjan, 1979, p. 476. 20. Westiwick, C. A. , â€Å"Management: How to use ratios†, Epping Essex: Grower Press Ltd. 1973,p. 5 21. Bogen, J. J. , Op. cit. Pp. 751-752. 22. Mohsin, M. , â€Å"Financial Planning and Control†; NewDelhi: Vikas publishing House Pvt. Ltd. , 1980, p. 174. 23. Kulshrestha, N. K. Op. cit. , 139. 24. HENDERSON, G. V. , Gurry, J. R. Trnnep Oh. , James E. Wirt. , â€Å"An Introduction to financial Management†, California: Addition-Wesley publishing company, 1984, p. 122. 25. Anthony, R. N. and Reece, J. S. , Op. , cit. , p. 198. 26. Information obtained through unstructured interviews from financial managers of the sample units though telephone. 27. Annual reports of selected cement company from 2003-04 to 2008-09 28. Kennedy, R. D. and Mcmullen, S. Y. , â€Å"Financial statements: Forms analysis and interpretation†, Illnois: Richard D. Irwin inc. 1964, p. 404. Information about this Article Peer-review ratings (from 2 reviews, where a score of 100 represents the ‘average’ level): Originality = 175. 00, importance = 162. 50, overall quality = 162. 50 This Article was published on 14th March, 2012 at 18:41:24 and has been viewed 2635 times. This work is licensed under a Creative Commons Attribution 2. 5 License. The f ull citation for this Article is: Kakkad, R. (2012). Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India-An empirical Analysis. PHILICA. COM Article number 318. How to cite Ratio Analysis, Essay examples

Last Dance by That Rogue Romeo free essay sample

This song first caught my attention after being a Newsies fan for two years and I find out that an actor Ive wished to meet has passed away due to cancer. The late actor was friends with this singer named above as the artist. His real name is Kevin Stea and the past actors name is Dominic Lucero. Moving on now. After watching a video Kevin posted about what Dominic was like, I subscribed and received a notice saying that he posted a new music video. That video being Last dance of course. I listen to it, I love it, I teach myself the lyrics. The reason I love it is because it has a thought- provoking feeling to it. The way I see it, its about this couple in a relationship that has them more physically committed than rather mentally and emotionally. One is trying to figure out if they should stay together while the other is just wanting to be in a relationship. We will write a custom essay sample on Last Dance by That Rogue Romeo or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Im still trying to figure the meaning all out. I may not be precise but its all Ive got so far. This song has helped get through my rough days and helped me stay positive on my good days. I would say it a song that should never go unmissed.

Margaret Thatcher Essay Analysis Essay Example

Margaret Thatcher Essay Analysis Essay During the play you get the notion that money rules all. As well as the classes, which are judged on amounts of money, there is a strong sense of money = life. This is shown when the inspector questions Mrs Burling about Eva Smith. When Eva Smith falls pregnant Eric, the father also son to Mrs Burling, realises money is needed and steals some from his father. Mrs Burling states, not knowing Eric has done this, that the decent thing the father should do is marry her, therefore giving her money. Mr Burling also thinks highly of money as he tries to pay the minimum wages to his factory workers therefore earning himself more. At the beginning of act one he talks about how it would be a good idea if his company and Geralds fathers should combined. This idea of his is truly based on how much money he can earn himself. Mrs Burling also seems to crave money, but tries to give you the impression that she is innocent. She tries to shush Mr Burling when he brings this up at the dining table and later suggests that they should talk in private. Now Arthur, I dont think you should talk business just quite now. In An Inspector Calls it is noticeable that everything that J. B. Priestley either features or makes fun of happens today. We will write a custom essay sample on Margaret Thatcher Essay Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Margaret Thatcher Essay Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Margaret Thatcher Essay Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Today there is prostitution, a big blame society and class structures. Money also plays a big part in the world today. You often see lots of people selling big issues. When a man of middle class walks past someone like this the initial reaction is Why are they there, what have they done to make themselves so low. Often people dont want to give money to them or even buy the magazine because people think theyre just going to use it to buy drugs etc. At the end of the play J. B. Priestley makes you think about how you have the urge you to improve society. Margaret Thatcher said in 1980 There is no society today. The youth at the end of the play provide some hope for society in their actions. This play is very clever and this is why it has remained so popular. I think that the drama of the play also plays a big part in why An Inspector Calls has remained so popular. J. B. Priestley said to make a good drama you have to cut out all the drink mixing etc and get on with the storyline. In the world today there is an element of how we like to feel somewhat clever and superior to others. This features in the play when Mrs Burling is talking about how the father of the baby is to blame and how he should be sent down for this. She says I blame the father for everything end of act two. Of course during her speech the audience have actually acknowledged who the father is and sits there just waiting for Mrs Burling to discover this as well. We like to see and enjoy a dislikeable character reduce down to size. When Sheila manages to get a word in she confronts her mother about Eric being the father and the guilt sets in. When Eric appears on the scene Mrs Burling tries to make up excuses for what shes said and looks for a scapegoat. But I didnt know it was you- I never dreamt. Besides, youre not the type- you dont get drunk. This cleverness and reducing the character down to size appeals to us and therefore make us want to watch more. During An Inspector Calls the characters talk about other people in the town and shops, bar etc. This gives the audience knowledge that there are more people other than the main characters involved with the play. It shows that the characters on stage arent the only people in the world. Each character has a main key to them, Mr Burling is a man mostly obsessed with money, Mrs Burling a woman who blames others, Eric a bit of a womaniser and Sheila a hopeful yet jealous person. By mentioning other people J. B. Priestley is trying to get the audience to realise that there is, for example, more than one money grubber in the world and perhaps we are all guilty sometimes of these things. This is a clever way of getting the audience involved and almost being part of the play. In an interview J . B. Priestly talked about this and said how it was important to include the world around them in the play because otherwise it makes the play seem totally based on the characters as if they are the only people on this world. J. B. Priestleys An Inspector Calls is a play mainly based around a family. It shows how they cope with whichever situation is thrown at them. During the play the characters snap and try to blame each other and Mr Burling, for example, becomes agitated. The audience become addicted and like the idea of watching characters dealing with difficult situations. Its quite pleasurable, I think, for the audience to watch each one of the characters suffer in a different way. The play then rapidly becomes realistic as people today probably react the same way as some of the characters. Individuals today become addicted to this type of play and modern versions a bit like An Inspector Calls are seen today. Programs like Big Brother and My Family are exact copies but with modern twists. In the play J. B. Priestly uses quite a lot of dramatic irony. He has cleverly crafted his story line so that it carries you part of the way and then suddenly drops you at the end. Up until nearly the end you know whats going to happen and realize that the inspector is a fake. Once the audience has understood the storyline there is an element of satisfaction as you think you know the storyline. Its not until the end when there is a telephone call saying there had been a suicide that you begin to wonder. The authors use of dramatic irony at the beginning is skilful, as it draws you into the play. When Mr Burling talks about how great the Titanic is and how there is never going to be war, you feel superior as you know that Mr Burlings knowledge is not very reliable. Mr Burling says: Therell be peace and prosperity and the Titanic- unsinkable. It also intrigues you about whats going to happen because of the characters lack of knowledge. Dramatic Irony also features when Mrs Burling accuses the father, of Eva Smiths baby, as irresponsible and a drunken young idler. In the play J. B. Priestley uses just a touch of humour. This enables the audience to relax more and become part of the play. By using humour it lightens the play and makes it more enjoyable for the audience. The type of humour J. B. Priestley uses is little amounts and sparingly. It breaks up the serious ideas in the play and allows the audience to digest the drama easily. The humour mostly features in the part played by the Inspector. I think this is because the audience envisage the inspector as quite a stern man. Like the storyline, Priestly has done this to allow the audience to digest him easily. The inspector says lines like We didnt think you meant Buckingham Palace and I dont play golf, its a shame. Finally J. B. Priestleys An Inspector calls, I think, tries to convey one important message to its audience; Helping others is the key to success. The play shows a very Christian message of how we need to make todays society better and to prove Margaret Thatchers saying wrong, and perhaps the views of Mr Burling, that there is no such thing as society. An Inspector Calls is a play which reaches out through the inspector to its audience. The inspector, a very careful but weighty man, shows us that there isnt a need in this world for jealously, shameful secrets or class structures. Through interrogating the rest of the characters he unveils each of their problems and shows us how it is wrong. An Inspector Calls has the ability to engross its audience and to educate them at the same time. It shows us that the lessons we learn from watching and reading this play may make us want to try and rebuild society today.

War On War essays

War On War essays Leo Tolstoys writings inspired Mahatma Gandhi, a 20th century pacifist leader who avoided war and changed the fate of India. On August 28th of 1828, Tolstoy was born in Yasnaya Polyana, Russia, to Nikolay and Marya. His mother died when he two years of age, giving birth to a younger sister who was also named Marya. The Tolstoy brothers included Nikolay, Sergey, Dmitry, and Leo. Tolstoy was extremely sensitive, often called Leo Crybaby (Rowe 2). He was very self-conscious, but also impassioned with imagination from the very first part of his youth. At age eight, or 1837, the family was sent to Moscow to undergo a more rigorous education. However their father died within months of their arrival. Their grandmother died in 1838, so Auntie Alexandra, second cousin of the father, became the legal guardian of all five children. She was an avid supporter of Tolstoys interest in writing. A new tutor, Saint-Thomas, took over family education. He began as an aggressive, often brutal disciplinarian. His anger instilled in Tolstoy a sense of hatred for violence, which later occupied his writings. When previous methods proved unfruitful, Saint-Thomas tried complementing Tolstoy and using positive reinforcement. His attempt must have been trite because historians, such as William W. Rowe, believe that it only created an ambivalence, or paradox of acceptance and rejection, in Tolstoys perception of Saint-Thomas that would disturb him throughout his adult life (3). Tolstoy was thoughtful well beyond his years, despite his poor academic performance. He began to think deeply at the age of twelve, to question the world around him, and even the world inside of him. This gave him a certain inappropriate awareness to his age. His questioning stopped halfway and found neither clarity nor resolution, thus creating even more ambivalence. On one set of days, he would perform tasks to develop his self-discipli...

International Business Management Essay Example | Topics and Well Written Essays - 3000 words

International Business Management - Essay Example There is a process for it which is termed as New Product development, which means it is the process that helps an organization to develop new products and services. There are two parallel paths involved in the process: One involves the idea generation, product design and detail structures, the second step focuses on market research and market analysis. Price Pricing is a very complicated issue and has far reaching effects on a company’s prospects in a market. There are different pricing benchmarks for different markets. So it is not a straight forward task to price a product. Company has to survey the market and analyze what prices other competitors are offering. Cost of Raw Material and Cost of transportation are taken into account for setting the price. If a company sets very low price in relation to their competitors, then there is a threat of being perceived as a bad quality. Willingness to purchase a product is directly related with the price. If the price is affordable, customer would instantly buy the product. Placement Placement of the product assumes wider magnitude when we talk about international marketing. If customers come to buy a product, and it is not available instantly than customers would get interested in competitors. For timely availability of the product, it is very necessary to make use of warehouses and other storing places. It is essential to make placement decisions in line with the product’s position in the market. Company need to decide whether our product will be perceived as a high end product or a low end product. Promotion Promotion is a multi-component phenomenon, which operates as a interacting channel with other elements of the marketing mix, aiming to achieve the communication process caused between what companies offer goods or services or ideas working to satisfy the needs and desires of consumers from individuals or institutions according to their potential. There are number of international promotional tools such as advertisement, sponsorships, price promotions and etc, but every firm prefers to use push and pull strategy. Pull is the relationship of the goods or pieces of information that moves the product from producer to the customers, while the "push" is to bring the goods to their customers "pool". Sometimes it become difficult to draft a promotional strategy for a brand because of its USP, then brand decisions are taken. Brand decisions are the art of creating and maintaining a brand. Branding makes customers committed to a business and provides them sense of loyalty. Question 1 (b) Company Global Hyatt Corporation is a US based organization that operates the business of hotels and motels. There are two hotel companies with the name of Hyatt Hotels Corporation and Hyatt International from which Global Hyatt Corporation operates all their businesses. Hyatt hotels leases, franchises and operates a number of hotels and resorts. Besides hotels, Global Hyatt Corporation also runs the business of casinos. The servicing mix of Global Hyatt Corporation is extended by three points: the processes, the individuals and the physical evidence.   Ã‚  Ã‚  Ã‚   Processes A process is a set of actions which connects all the operations of a business to each other with an aim to achieve a specific result. Usually, Process includes value creating strategies for internal or external customers, segmentation,

Fukuyamas Philosophical System and the Ethics of Biotechnology Essay

Fukuyamas Philosophical System and the Ethics of Biotechnology - Essay Example There is ‘something’ that separates humans from other animals. This concept leads to his other theories on bioethics. Such that experimentation on humans should not violate their dignity. And that the essence of being human should remain intact as this separates humans from animals. According to Fukuyama, factor X makes humans as the world knows them. It is the factor in the human body that cannot be reduced to moral choices, language, sociability, sentience, emotions, or any quality that has been put forth as a ground for human dignity. He terms the factor that is responsible for the dignity in mankind, the factor X. In other words, it is an ideology that each person holds. According to Fukushima, Jews, Christians, and Muslims share a common theme that the man is created in the image of God. This theory is the base for Factor X among those followers. Similarly, an atheist also has factor X, which can be a moral authority. Fukuyama is not against biotechnology. He is against violating the sacredness of humans. This concept might be abstract for scientists. Factor X cannot be calculated. It does not have that form that scientists would like to consider relevant. In fact, the concept of factor X is relevant to the person’s beliefs. Different belief systems generate different factor X’s. Such a thought might seem too spiritual for scientific study, but Fukuyama has dedicated his studies to preserve human sanctity. Francis Fukuyama, a bio–conservative, along with other writers such as George Annas, Leon Kass, Jeremy Rifkin, Bill McKibben, and Wesley Smith, opposed the use of technology to modify human nature. Fukuyama fears that the man's nature is the most precious thing that can be affected by the recent advances in human biotechnology.  

Essay for Hamlet-Character Analysis Example | Topics and Well Written Essays - 1750 words

For Hamlet-Character Analysis - Essay Example Cynthia Gravlee writes, â€Å" Hamlet’s Gertrude ia vindicated by Rebecca Smith(â€Å"A Heart Cleft in Twain: The Dilemma of Shakespeare’s Gertrude†), who proves that while Gertrude is generally assumed to be conniving and lascivious, her words and actions really delineate her as a â€Å"compliant, loving, unimaginative woman whose only concern is pleasing others†¦.†(1981,p.120) One point incidentally. A woman, when she enters into wedlock, possesses the supreme confidence, that she will be able to mould her man according to her choices. Her expectations in this regard may or may not come true. Gertrude has similar faith. With this backgrounder information one needs to understand and judge the personality of Gertrude. Gertrude is more to be pitied rather than condemned as vicissitudes in her life are beyond her control. Can two walk together, except they are agreed? In the case in point, the two are mother and son. Hamlet is her antithesis, but nothing wrong in it. Hamlet is a scholar and a philosopher, with an inquisitive mind to find out the deeper meaning of life. In contrast, Gertrude is as worldly. She is proud of the charm of her body and the secular pleasures of her life. She likes to be pampered. She sees her paradise in soft pillows, warm baths, fine clothes and trinkets. Hamlet is internally devastated by her action in marrying his uncle. That too within a short time of his father’s death! The Ghost intervenes to give more disturbing information about her, which upsets Hamlet thoroughly. The death of Gertrude’s husband is a fact. The question that is often posed by the critics is why she marries in a hurry. Hurry from whose point of view? With the death of Hamlet’s father, her Christian marriage vow comes to an end. She is the queen, accustomed to live with supreme comforts of life. She is eager to restore and secure her position. If Claudius marries some other woman, she will

Mcdonalds An Overview Of Company Commerce Essay

Mcdonalds An Overview Of Company Commerce Essay McDonalds is the number one worldwide foodservice retailer with over 33,000 local restaurants. These restaurants are located in 119 countries and together they manage to serve approximately 68 million people each day. McDonalds brand mission is to be our customers favorite place and way to eat. McDonaldsd worldwide operations are aligned around a global strategy called the Plan to Win, which center on an exceptional customer experience People, Products, Place, Price and Promotion. We are committed to continuously improving our operations and enhancing our customers experience (mcdonalds.com). They also have seven specific values which are: placing customer experiences at the core of all they do; staying committed to their people; Believing in the McDonalds system; operating their business ethically; giving back to their communities; growing their business profitably; and lastly continually striving to improved (mcdonalds.com) McDonalds HR Planning Their vision is to be the worlds best quick service restaurant experience. (McDonalds) In order to achieve this mission McDonalds follows three worldwide strategies which are to be the best employer for its people in each community around the world, to deliver operational excellence to its customers in each of its restaurants, and to achieve enduring profitable growth by expanding the brand and leveraging the strengths of McDonalds system through innovation and technology (McDonalds). McDonalds worldwide operations are aligned around a global strategy called the Plan to Win, which center on an exceptional customer experience People, Products, Place, Price and Promotion. McDonalds targets every age group, not only through the menu of their restaurants itself but also through programs, partnerships and sponsoring. They developed a healthy growing up program designed to encourage children from kindergarten through third grade to adopt lifelong habits of good nutrition, exercise and positive-esteem. McDonalds also partnered with the American Library Association to encourage families to read together through local libraries and they sponsored this animated, anti-substance abuse television special, which was broadcasted on every major network in North America. (McDonalds) Mc Donalds products include a wide variety of their very affordable menu options; mainly hamburgers, cheeseburgers and fries. They compete internationally, nationally, regionally as well as with local retailers of food products. Their competitors include Burger King, Wendys, Hardees, Taco Bell, and KFC. Their competition is on the basis of pricing, convenience and services. The SWOT analysis displays McDonalds strengths, weaknesses, opportunities and threats as an enormous fast food restaurant. Its strengths include: leader in the quick service sandwich industry, brand recognition, strongest international presence and highest worldwide sales, real-estate holdings, easily recognizable product, variety of sources of income, and franchise business model. Its weaknesses are: continuous struggles in offering value-priced items and expensive items, and high employee turnover rate. Their opportunities include: growth in the food- service industry, initial public offerings in other countries , and acquisitions of other restaurants and retail sales of merchandise. The threats of McDonalds are: increased competition from various industries, health conscious consumer trend, value-conscious consumer trend, saturation of US fast-food market, slow growth in the sandwich segment, and price war business practices. (McDonalds) After identifying the strengths, weaknesses, opportunities and threats of the company, McDonalds developed a corporate strategy that encompassed a growth strategy- adding restaurants through people and capital resources, maximizing sales profit through better operations, reinvestment, product development, effective marketing and lower development costs, and improving international profitability. (McDonalds) Currently McDonalds operates in 119 countries, added about 650 stores in Asia/Pacific, 550 in Europe, and 350 in Latin America in the year 2000 with plans to add more during 2001. (McDonalds) However, recently McDonalds began diversifying their successful restaurant business by operating several restaurants concepts, such as Aroma cafà ©- a small chain of coffeehouses serving prepared sandwiches and pastries, Chipotle Mexican Grill- a fresh max grill serving gourmet burritos and tacos and Donatos Pizza- a restaurant business that sells pizza, subs and salads. McDonalds also welcomed Boston Market, a U.S.chain specializing in fresh, convenient meals. (McDonalds). Staffing To ensure that the business is successful and customers are happy McDonalds has to recruit, select and retain a lot of employees through advertisements of vacancies in the actual McDonalds restaurants, local job centers, career fairs and other local facilities. (McDonalds) It is vital to use effective hiring material with a clear message targeted at the right audience because according to McDonalds, customer satisfaction begins with the attitudes and abilities of employees. Effective workers are the best route to success. (McDonalds) After interviewing applicants for the job, managers evaluate the responses received then the employees attend a welcome meeting where the company gives an overview of the job role, food hygiene and safety training, policies and procedures, administration, benefits and training and development. (McDonalds). To ensure employee satisfaction McDonalds provides health insurance benefits to full-time employees and a 10% raise in salary is rewarded on the basis of performance and a 20%increment is given at any time of the year once performance is outstanding (McDonalds). McDonalds human resource management system also includes K/3 HR personnel management, payroll management and report module, as well as performance management, employee capacity quality module (McDonalds). Training Development McDonalds can be recognized for its rigorous approach to ensuring effective training and the successful development of each of their employees. It is not uncommon for employees to begin their careers at McDonalds as restaurant workers or crew, as the company would refer to them, and to continue to develop on their paths eventually reaching levels such as management and executive positions (mteliza.mbs.edu). McDonalds begins training its employees by preparing them to serve in-store customers, and extends to the grooming of future managers as well as future franchise owners. Recently McDonalds has added elements to enhance their training and development program by improving their leadership training, and fine tuning the companys coaching and mentoring processes (auaboutmcdonalds.com). To ensure the effective training of their team, McDonalds created their very own Global Training Center. Hamburger University was founded in the basement of a McDonalds restaurant by a former Senior Chairman in 1961, and has since grown to see more than 500 students each year, and to have over 80,000 restaurant managers, mid-level managers, and owners graduate from its program. Being the first restaurant company to ever design such a facility for the development of their employees and the enhancement of their companys quality of service. According to the McDonalds corporate website, Since its inception, training at Hamburger University has emphasized consistent restaurant operations procedures, service, quality and cleanliness. It has become the companys global center of excellence for McDonalds operations training and leadership development (aboutmcdonalds.com). Hamburger University employs 19 full-time professors with adequate restaurant and management experience teaching students how to be successful in various roles throughout the business. Training for McDonalds employees is tailored to their desired career path within the business. The crew development curriculum was developed by the university and is facilitated in the restaurant; this is specifically designed for restaurant support staff as well as restaurant managers. Shift and Systems management courses have been designed for future managers to attend in one of the many regional training centers McDonalds has for its employees. Managers must complete these courses before they are given the opportunity to attend Hamburger University where their skills will be further developed, and they will be given the expertise necessary to run a multi-million dollar restaurant (trainingmag.com). Business consultants and department heads will begin a path of development designed for mid-level managers. Focusing on leadership and communication skills, this curriculum teaches individuals to coach as well as consult with others to ensure the successful operation of the business. The executive curriculum at Hamburger University provides courses that build upon the leadership skills necessary for the optimal support of employees. Executives are also provided with knowledge about the skills needed to effectively deal with restaurant owners/operators, as well as sales growth. According to McDonalds, Career Development at McDonalds combines a focus on personal growth and development with talent management objectives in order to help employees to perform at their very best while experiencing personal career satisfaction (aboutmcdonalds.com). Performance Management As a global company servicing many countries and cultures around the world, McDonalds does not share a certain set of standards for its performance management at international locations. Because cultures differ, management styles as well as the idea of what peak performance should look like varies with each location. Performance appraisals are measured differently, globally. McDonalds attempts to drive a High Performance Culture within the company and to tie rewards to results. In order to accommodate the differences that can be seen in the measurement of performance at a global company such as McDonalds, as procedure was set in place by the company. The company designed a Performance Development System. In this system the distribution of rewards are based on individual performance. The process includes and Individual Performance Plan, Individual Development Plan, and a Mid-Year Review. This process ensures that the level of performance of employees is reflective of the expectation o f the location of the employee as well as the specific expectations of the managers at a given location. Employee Relations Employee relation is the relationship between employer and employee and the way employees feel about all aspects of the job. By providing more in depth information about the company in this project, we hope to change the view of what employment at McDonalds is like and show that McDonalds employee relations is top notch in this industry. Firstly, we all know that the perception of a McDonalds job is not very good; in fact a McJob according to Merriam-Webster dictionary is a low-paying job that requires little skill and provides little opportunity for advancement. This view of a McDonalds job is what we have grown to know and believe, however, within the organization employees appear to think just the opposite. Employee satisfaction at McDonalds has been rated consistently at 80% or above which clearly implies a good employee employer relationship. In an article from McDonalds titled Employee-first Approach Pays Off for McDonalds  Canada, it states that in a recent survey of about 42,000, 84% strongly agreed that they felt valued as an employee and 86% were proud to be working at McDonalds. In another survey from McDonalds employees in its nine largest markets, 84% of them would recommend working at McDonalds. McDonalds management was faced with the challenge of identifying McDonalds Employment Value Proposition (EVP). Results came in from 55 countries and about 10,000 employees about what they love most about working at McDonalds. From the answers from its employees McDonalds identified three themes, Family Friends, Flexibility, and Future. Despite what a McJob may look like from the outside, McDonalds has great employee relations and employees enjoy their jobs and are satisfied. Compensation Benefits Compensation and benefits can be a major factor when it comes to deciding what job is right for you. Despite popular belief, McDonalds, with regards to its lucrative compensation and benefits package is an ideal employment option for many people across the globe. Medical, Dental, Profit Sharing, Vacation, Sabbatical Program, Employee and dependent life insurance, Incentive Pay, Recognition Programs are some of the said compensation and benefits that McDonalds offers its employees. One of McDonalds benefits is the McDonalds Profit Sharing and Savings Plan, which is a 401k plan. In this plan McDonalds prepare their employees for life after retirement. In an online report from McDonalds, it is said that they have a participation rate of 93% of its eligible employees enrolled in this program. In this plan, employees contribute 5% and McDonalds matches that with 7% contribution. Also, depending on the companys performance an addition 4% may be added to bring the companys contribution towards the employees 401k to 11%, which was the case from 2006 through 2008. Another one of McDonalds compensation and benefit is their education assistance. According to their website, eligible employees can receive up to 5,250 a year for grades C and above. Another excellent incentive McDonalds offer is their Child Care assistance where employees receive discounted tuition rates for their children. As a result of McDonalds efforts with this compensation and benefits program McDonalds UK as reduced turnover rate by 20% according to their online report. McDonalds obviously recognizes that their employees need to feel valued and thus they have come up with this extensive package to attract and keep their employees. Employee Surveys Each year, many publications and organizations conduct surveys, polls, and benchmarking studies to determine which companies are doing noteworthy work in the area of inclusion and diversity. McDonalds has a proud history of being the recipient of many of these awards, some on a recurring basis. Awards include the following: Working Mother Magazine, Top Companies for Multicultural Women, 2011 2010, Black Enterprise Magazine, 40 Best Companies for Diversity, 2011; Latina Style Magazine, Best Companies for Hourly Workers, 2011; Diversity MBA 50 Out Front for Diversity Leadership: Best Places for Diverse Managers To Work 2011; Executive Leadership Council, Corporate Award, 2010; Fortune Magazine, 50 Most Powerful Women Jan Fields (#25), 2010; Latina Style, Best 10 Companies for Latinas to Work, 2010; Congressional Black Caucus Foundation, Avoice Corporate Award, 2010; Black Enterprise Magazine, 40 Best Companies for Diversity, 2010; Hispanic Business Magazine, Top 10 Diversity Elite Co mpanies, 2010; PODER Magazine, Top 25 Franchises for Hispanics, 2010; Top 6 Companies for Hourly Employees, Working Mother Magazine, 2010; Top Supplier Diversity Program for Women, Professional Woman Magazine, 2010; Best Company for Promoting Asian Pacific Americans to Develop Workforce Skills, Asia Society, 2010 (aboutmcdonalds.com). Each year, McDonalds Canada conducts internal employee surveys to get feedback on how well the company is doing. The most recent survey of nearly 42,000 people showed that 84% agreed or strongly agreed that they felt valued as an employee of McDonalds, and that 86% said they were proud to be working at McDonalds. From an employer image perspective, it was the second major award of the season for McDonalds Canada, which also earned a nod as one of Canadas 10 Most Admired Corporate Cultures. Conducted on behalf of the National Post by Waterstone Human Capital, a leading retainer-based search firm, the results of the survey of 340 Canadian executives showed how strong leadership drives corporate culture and how culture drives performance. McDonalds Canada was a first-time recipient of this prestigious distinction, which was based on the following criteria: vision and leadership, cultural alignment, measurement and sustainability, rewards, recognition and innovative business achievement, corporate performance, and corporate social responsibility. McDonalds and their independent franchisees employ more than 1.7 million people worldwide they are the face of our brand and differentiate us from the competition. McDonalds has been recognized as a great place to work in more than 30 of the markets in which they do business. For instance, the following include awards and recognition under Brands: 2011 Most Innovative Food Companies, 2012 #4 Most Valuable Global Brand, 2012 #7 Worlds Most Powerful Brand and 2012 #7 Best Global Brand (aboutmcdonalds.com). In the category of leadership, Fortune states the following recognition and awards: 2012 #11 Most Admired Company in the World, Ranked #2 among all companies for Management Quality, Ranked #2 among all companies for Global Competitiveness, Ranked #1 among all companies for Use of Corporate Assets, Ranked #4 among all companies for Best Long-Term Investment, Ranked #2 among all companies for Financial Soundness, Ranked #4 among all companies for People Management, and McDonalds also ranked #1 in the Food Services category (aboutmcdonalds.com). Safety and Wellness Safety and Wellness can be best described as the following: Employee wellness focuses on the ability of women and men to secure a decent and productive employment in working conditions that support freedom, equity, security and dignity so the companys economic growth benefits all. Employee Wellness also touches on areas such as compensation and benefits and the use of appropriately aged labor. McDonalds supplier has gone beyond the basic obligations of law and McDonalds Supplier Code of Conduct to proactively support the well-being of their employees. Regardless of the fact if its a quick breakfast, lunch on the go or dinner with the kids, customers come to McDonalds for quality food at a great value. McDonalds goal is to continuously improve our classic offerings and increase the number and variety of new options that deliver the great taste and balance our customers seek (aboutmcdonalds.com). Unfortunately, there continues to be a major concern about juvenile diabetes, obesity rates and related risks to human well-being among consumers, governments, non-governmental organizations, and health and nutrition experts. McDonalds response is the following: We take these issues seriously and are working to do what we can to positively influence the situation. We know we cannot address this problem alone, but we are committed to being part of the solution (aboutmcdonalds.com). With guidance from their Global Advisory Council (GAC), McDonalds continue to evolve their overall approach, while supporting their individual markets in meeting the specific needs and requirements of their local cultures and governments. Since 2004, the GAC has provided McDonalds guidance on key areas such as global nutrition labeling, McDonalds What I Eat, What I Do childrens well-being platform, the development of internal metrics to gauge our progress, and approaches for motivating children to eat more fruits and vegetables (aboutmcdonalds.com). An organization tries to create and maintain a safe and healthy workplace for many reasons. For instance, it is simply an ethical and socially responsible position; no responsible employer would argue that it is acceptable for employees to get hurt or become ill because of their working conditions. The insurance premium an organization pays for this coverage is determined by several factors, including the value of the claims paid out to employees of the firm. Firms that have fewer accidents and workers compensation claims actually pay lower premiums. In addition, the Occupational Safety and Health Administration (OSHA) can impose fines against organizations that have unsafe workplace (DeNisi/Griffin). In conclusion, the lost time from accidents and illness can cost an organization a great deal of money, so it is simply good business to maintain a safe and healthy workplace. Communications Choosing effective internal communications methods that are right to deliver key messages for diverse audiences is essential to the success of any business. McDonalds is careful about heir methods of both internal and marketing communications. McDonalds adopts multi-channel communication methods to ensure that all its messages are delivered to staff.   These include the use of print, online and other forms of technology such as video conferencing (thehrdirector.com). McDonalds works closely with its communications agency, Summersault, producing employee magazines that are designed to inspire and motivate employees about the company. McDonalds communication practices are just another way for McDonalds executives to keep employees enthusiastic about their jobs and encourage them to go as far as they can I the business. Overall McDonalds HR policies and Procedures have contributed to the overall success of the organization. McDonalds has successfully geared their business toward the development of their employees which produces optimal performance and the ultimate prosperity of the company as a global unit. Allowing the demand for their product and customer satisfaction to dictate their method of perfecting their business practices appears to be on of McDonalds great strengths, and has allowed them to continue to be the most popular fast food chain in the world. Together McDonalds HR Planning, Staffing, Performance Management, Communications along with many other company practices have propelled the success of McDonalds in the food industry. Efficiency in these areas has provided the foundation for an immensely successful global company. Works Cited http://www.bersinassociates.com http://www.mteliza.mbs.edu http://www.aboutmcdonalds.com http://hrmtoday.org http://www.merriam-webster.com http://www.scribd.com http://www.mcdonalds.at/ Works Cited