A Feminist Alternative to Fetterleys Criticism of A Farewell to Arms :: Farewell Arms Essays

A Feminist Alternative to Fetterley's Criticism of A Farewell to Arms      Ã‚  Ã‚   After finishing A Farewell to Arms, I found it difficult to reconcile Judith Fetterley's feminist attack of the novel with my own personal opinions. I agree that Hemingway does kick women to the curb in his portrayal of Catherine, but my reasons for pinning this crime on Hemingway are different from hers'. Although she means well, Fetterley makes the ridiculous claim that by portraying Catherine as an angelic, selflessly loving "woman to end all women," Hemingway disguises misogynistic attitudes and a deep-seeded hatred towards the XX chromosome. This claim is not supported by the text. If we look at Hemingway through the lens of his own words, we find that his misogyny does not spring from a "too good to be true" portrait of Catherine, but rather in his tendency to cast her down into the dirt-Catherine is a dependent, baby-manufacturing trap that stifles Lieutenant Henry: "Poor, poor dear Cat. And this was the price you paid for sleeping together. This was the end of th e trap" (320). It is his penchant for sex and his need for womanly comfort that keeps Henry coming back to Catherine, not some notion of "love" or true connection. This is Hemingway's misogyny, however unintentional, unmasked.    But to get a true sense of this "anti-Fetterley" feminist view of the novel, it is important too look at the specifics of Hemingway's construction of Catherine-facts that stand in direct opposition to Fetterley's stated attacks.    First of all, Catherine is not Fetterley's unique and unattainable goddess-she is an object in Henry's universe, a feast of sensations but nothing more. She is akin to good food and good drink: "'I was made to eat. My God, yes. Eat and drink and sleep with Catherine'" (233). Indeed, Henry's thoughts about Catherine, both when he is at the front or by her side, mingle with longings for good wine and reflections on sumptuous meals. In Henry's world, a good Capri would be nice, a nice hunk of cheese would be grand, and sleeping with Catherine would be sublime. These things all equate to the satisfaction of basic human needs. Every now and then, Henry feels a grumbling in his loins-a periodic hunger for the "cheese" between Catherine's legs. Hemingway dissolves Catherine into the least common denominator-the object, devoid of meaning or real importance (when Henry isn't hungry).

Cmi Level 7 Unit 7006

1. Identify the current strategic aims and objectives 2. Undertake an evaluation of the component parts of a strategic plan 3. Analyze the factors affecting the strategic plan The history of Harley-Davidson began in 1903, in a 10†² x 15†² shed located in the Davidson family's Milwaukee backyard. The Davidson brothers – William D. , Walter, and Arthur – and William S. Harley crafted their first motorcycle using the best tools they had available – mostly their hands and their ingenuity. Since that time Harley-Davidson has learned many lessons on how to operate a business.We are focused on providing our customers with not just a quality product, but also an overall experience. Our mission statement is as follows: honesty, integrity and personal growth in all of our dealings with stakeholders. Our values are the rules by which we operate. At Harley-Davidson, we are equally committed to a corporate vision that mandates how we run our business. Within this vi sion we emphasize the relationships that we deem crucial to our success, including our relationships with customers and suppliers. Our vision states: HARLEY-DAVIDSON, INC.IS AN ACTION-ORIENTED, INTERNATIONAL COMPANY, A LEADER IN ITS COMMITMENT TO CONTINUOUSLY IMPROVE OUR MUTUALLY BENEFICIAL RELATIONSHIPS WITH STAKEHOLDERS (CUSTOMERS, SUPPLIERS, EMPLOYEES, SHAREHOLDERS, GOVERNMENT, AND SOCIETY). HARLEY-DAVIDSON BELIEVES THE KEY TO SUCCESS IS TO BALANCE STAKEHOLDERSi INTERESTS THROUGH THE EMPOWERMENT OF ALL EMPLOYEES TO FOCUS ON VALUEADDED ACTIVITIES. Doing Business With Harley-Davidson Our vision is our corporate conscience and it helps us to eliminate short term thinking, such as â€Å"cashing in† on the intense demand for our motorcycles by giving quantity precedence over quality to save a few dollars per unit.It also encourages every employee in our organization to be acutely aware of his or her role in satisfying our stakeholders. Harley-Davidson has become the world leade r in the super-heavyweight (850cc+) motorcycle market because of our unwavering commitment to continuously improve upon the superior quality of our products. This quality commitment is built on the satisfaction of each and every customer, internal and external, including everyone from our production line employees to our end users.This belief is captured within our quality policy statement: HARLEY-DAVIDSON IS COMMITTED TO CONTINUOUS IMPROVEMENT TO REDUCE WASTE, DEFECTS AND VARIABILITY IN EVERYTHING WE DO, WHILE STRIVING TO MEET / EXCEED CUSTOMERS' EXPECTATIONS. It is the goal of Harley-Davidson to satisfy our customers by not only meeting, but also exceeding their expectations and by giving them superior value for their money. We can accomplish this only if you, as a Harley-Davidson supplier, embrace our company's values and commitment to quality to the extent that we do.Our hope is that you will see reward in satisfying our customers, which are also your customers. Please remember you are not simply selling your products to Harley-Davidson, you are selling them to our customers. 1. Apply a range of strategic analysis tools to audit progress towards strategic aims and objectives 2. Review and assess the expectations of all stakeholders and their influence upon the organizational strategy 3. Analyze, interpret and produce a structured evaluation of organizational strategic positionHarley Davidson has always been known for its differentiated products that have continuously stood out from the norm. This has a lot to do with strategies Harley uses to promote its products and services. Some of the key strategies used throughout 2013 were the promotion of its 110th Anniversary Special Edition Motorcycles and the worldwide Open Road Tour used to advertise their current production line. The stunning 2013 model 110th Anniversary Harley-Davidson motorcycles, which feature rich new paint schemes and special 110th Anniversary identification has been an instant success.Eve ry 2003 motorcycle in the line-up has been designated a 110th Anniversary model. The company has extended the model year to 14 months to give even more customers the opportunity to own a piece of Harley-Davidson history. The Anniversary celebrations began back in late 2011 as the Open Road Tour made its way to Atlanta, Baltimore, Los Angeles, Toronto and Dallas/Fort Worth. The festivities then traveled overseas to Sydney, Tokyo, Barcelona and Hamburg. Billed as the world’s largest rolling birthday party, the Open Road Tour brought the Harley-Davidson experience full throttle to riders and enthusiasts around the world.Receiving worldwide exposure at minimal advertising costs, the Open Road Tour has been a complete success, thus allowing Harley’s unique and differentiated products to be seen up close around the world. Additionally, Harley-Davidson established the Harley Owners Group (HOG) in 1983 in response to a growing desire by Harley riders for an organized way to sh are their passion and show their pride. By 1985, 49 local chapters had sprouted around the 12 country, with a total membership of 60,000.Now in 2013, the promotion of the 110th Anniversary has allowed the membership to include over 1200 chapters and close to 800,000 members. HOG has played a major role in the success of the 110Th Anniversary celebration. This one of a kind, unique strategy which started 20 years ago by Harley and its members, has grown tremendously and will continue to play an important role in the future success of the company. Strategies such as these implemented by internal management and carried out by dedicated customers and members are one of the most precious assets a company can ever dream of.That is the Harley way!! Furthermore, the key strategies relating to the distribution channels have allowed Harley-Davidson the world-wide exposure needed to market its product with tremendous success and demand that has always seemed to exceed supply. To date, there ar e more than 1300 independent dealers worldwide. Over 630 are within the United States alone. Recognizing that to grow sales will take more than just an increase in capacity, the company’s aim has been to add 20-30 dealers per year to grow the dealer network, with an increase of roughly 5-10 domestically and the balance internationally.In addition to its dedicated dealer network, the company also uses smaller, occasionally temporary retail outlets in high-traffic areas, such as airports, to sell accessory products like apparel, collectibles, and licensed products. This gives Harley the additional exposure needed without having to spend millions on other forms of advertising. In order to effectively analyze Harley Davidson, we wanted to present a breakdown of the different price ranges offered based on the current list of the five classes of heavyweight motorcycles produced under the Harley Davidson name. BusinessHarley-Davidson, Inc. was incorporated in 1981, at which time it purchased the Harley-Davidson ® motorcycle business from AMF Incorporated in a management buyout. In 1986, Harley-Davidson, Inc. became publicly held. Unless the context otherwise requires, all references to the â€Å"Company† include Harley-Davidson, Inc. and all of its subsidiaries. The Company operates in two segments: the Motorcycles ; Related Products (Motorcycles) segment and the Financial Services (Financial Services) segment. The Company's reportable segments are strategic business units that offer different products and services.They are managed separately based on the fundamental differences in their operations. The Motorcycles segment designs, manufactures and sells at wholesale heavyweight (engine displacement of 651+cc) Harley-Davidson motorcycles as well as a line of motorcycle parts, accessories, general merchandise and related services. The Company's products are sold to retail customers through a network of independent dealers. The Company conducts business on a global basis, with sales in North America, Europe/Middle East/Africa (EMEA), AsiaPacific and Latin America.In 2009, the Company decided to exit its former Buell product line and ceased production of Buell motorcycles. The sale of remaining Buell motorcycle inventory to independent dealers and/or distributors was substantially completed during 2010. The majority of independent dealers continue to provide ongoing service and replacement parts to Buell owners. In 2010, the Company completed the sale of MV Agusta (MV). The results of MV have been presented as a discontinued operation for all periods. The Motorcycles segment discussion that follows is specific to the Harley-Davidson brand unless otherwise specifically noted.The Financial Services segment consists of Harley-Davidson Financial Services (HDFS). HDFS provides wholesale and retail financing and provides insurance and insurance-related programs primarily to Harley-Davidson dealers and their retail customers. HDFS conduct s business principally in the United States and Canada. Harley-Davidson, Inc. , SWOT Analysis * Overview Harley-Davidson, Inc. (Harley-Davidson) designs, manufactures, and sells heavyweight motorcycles. The company markets, its products in North America, Europe, Asia/Pacific and Latin America.The company’s strong brand image, coupled with its wide range of products, helps it to be a front-runner in the industry. However, dependence on the domestic market and product issues are a few areas of concern to the company. Nonetheless, expansion in global markets, especially Asian markets, and launch of new models could ensure a strong future for the company. New emission standards for two wheelers and the prevailing competition could negatively impact the company’s growth. Harley-Davidson, Inc. SWOT Analysis| Strengths| Weakness| Strong Brand ImageBroad Product and Service PortfolioFocused Research and Development Activities| Product Recalls/IssuesDependence on the Domestic M arket| Opportunities| Treats| Global ExpansionNew Product LaunchesRestructuring Plans| New Emission Standards for Two WheelersProcurement of Raw MaterialsCompetitive Landscape| * Strengths Strong Brand Image Harley-Davidson owns one of the strongest brands in the world, which helps it attract and retain a loyal customer base.The company established a strong brand image with its motorcycles achieving iconic status and being ranked among the world’s most valuable brands. Harley-Davidson has been continuously ranked among the top 100 global brands in the world. The company holds 55. 7% share in the US heavyweight market; and is ranked No. 1 or No. 2 in the heavyweight motorcycle market share in nine countries across Europe. Harley-Davidson’s motorcycles are known for their traditional styling, design simplicity, durability and quality.The company achieved industry recognition for its high quality, best design, robust performance and unflinching customer confidence, loyalt y and trust of its products and services. The Harley-Davidson brand has significantly contributed to the success of the company by building strong market recognition and a loyal customer base. Broad Product and Service Portfolio Harley-Davidson offers a broad array of products and services through its two business segments, namely, the Motorcycles ; Related Products segment and the Financial Services segment.The company offers a variety of products in the motorcycle segment to cater to the various needs of its customer base. Harley-Davidson designs, manufactures and sells heavyweight touring, custom and performance motorcycles, besides a line of motorcycle parts, accessories, general merchandise and related services. Harley-Davidson is well known for its unique motorcycles. Its subsidiary, Harley-Davidson Motor Company (HDMC), manufactures five families of motorcycles, namely, Touring, Dyna, Softail, Sportster and V-Rod.These models are distinguished by their frame, engine, suspensi on, and other characteristics. The company shipped 233,117 motorcycles in the fiscal year ended December 2011, comprising 39. 5% Touring motorcycle units, 39. 2% Custom motorcycle units, and 21. 3% Sportster motorcycle units. Through Harley-Davidson Financial Services (HDFS), the company offers a package of wholesale and retail financial services for its products, providing it a competitive edge in the motorcycles business in the US and Canada regions. HDFS financed 51% and 30. 4% of the new Harley-Davidson otorcycles retailed by independent dealers in the US and Canada respectively in 2011. HDFS provides wholesale financial services to Harley-Davidson motorcycle dealers, including floor plan and open account financing of motorcycles and motorcycle parts and accessories. These specific services provide a competitive edge to the company in capturing a higher market share and enhancing its bottom line. Focused Research and Development Activities Harley-Davidson has a strong research a nd development unit that facilitates innovation and attracts industry attention.Its Product Development Center (PDC) undertakes the development of new and better quality products. The company spent $145. 4m, $136. 2m, $143. 1m and $163. 5m in the fiscal years ended December 2011, 2010, 2009 and 2008 respectively on research and development activities. Harley-Davidson’s continuous focus on R;D helped the company in launching innovative products such as Softail motorcycles with 1584 cc engine with new features such as new hand controls, a larger odometer, and an anti-lock braking system option.Continuous research and development activity enables the company to maintain a leading position in custom and touring motorcycle market and develop products for the performance segment. Focused R;D activities enable the company to offer innovative products and improve its operational performance. * Weaknesses Product Recalls/Issues Product recalls/issues not only affects the companyâ€⠄¢s current revenue, but could also affect its long-term performance by reducing customer confidence.In February 2012, Harley-Davidson launched a repair service campaign to fix faulty brakes in about 1,228 units of 12 models, including the Road King and the Electra Glide Ultra Classic. In October 2011, the company initiated a world-wide recall affecting over 308,000 units of its Touring, CVO Touring and Trike motorbikes. The company made this recall owing to a potentially dangerous glitch with their braking systems, where in the problem with a switch on the bikes could cause the brake lights to stop working, or may even cause the rear brakes to fail.Such recalls would hamper Harley-Davidson’s brand image and have a significant impact on its product sales. Dependence on the Domestic Market Harley-Davidson focuses predominantly on the US and generates a major part of its revenue from that market, which could increase its business risk. For the fiscal year ended December 2011, t he company’s Motorcycles business reported revenue of $4. 67 billion comprising 67. 7% revenue generated from the US, 16. 8% from Europe, 4. 9% from Japan, 3. 3% from Canada, 3% from Australia and 4. 3% from Other foreign countries.In 2011, its Financial Services business reported revenue of $649. 44m comprising 95. 3% from the US, 0. 7% from Europe and 4% from Canada. Such geographical concentration makes Harley-Davidson vulnerable to the risks of economic downturn in any single market. * Opportunities Global Expansion Harley-Davidson has huge opportunities for growth in the overseas market. In October 2011, the company opened a new permanent Latin America headquarters in Miami, Florida, the US. Through this new headquarters, the company can expands its focus on customers in Latin America.In the fiscal year ended December 2011, retail sales of Harley-Davidson motorcycles from the international markets witnesses a rise of 6. 1%. The rising demand in Europe, Asia, Australia, L atin America and Africa offers huge potential for the company. In 2011, Harley-Davidson completed its second CKD (complete knock down) assembly plant in India to further strengthen its operations in the Asia-Pacific region. In 2010, the company opened a 1,000 square meter showroom in Beirut. This is the first and only showroom in the Levant which includes six-station service facilities with staff trained by the company.In a bid to garner a higher market shares in these regions, the company already refined its business and marketing strategies that are attuned to local customer preferences. Focus on international expansion would help the company enhance its business aggressively and reap greater benefits. New Product Launches Harley-Davidson could benefit from its new product launches. The company intends to explore new methods to enhance its value by introducing new products, which provide an edge over other players in the market.In February 2012, Harley-Davidson launched two new mo torcycle models, namely, the Seventy-Two and the Softail Slim, further strengthening its heavyweight custom offerings. In July 2011, the company offered its customers an H-D1, a comprehensive set of customization tools. In January 2011, the company introduced new Softail motorcycles with 1584 cc engine and through its Touring motorcycles line, the company introduced Electra Glide Classic, Road King, Road King Classic, Ultra Classic Electra Glide and Electra Glide Ultra Limited touring bikes.The company’s 2010 models include nine new domestic models of heavyweight motorcycles. New model launches could help the company sustain its leadership position in the highly competitive automotive industry. Restructuring Plans Effective 2009 – 2010, Harley-Davidson announced a series of restructuring measures, which focused on reducing administrative costs, eliminating excess capacity and exiting non-core business operations.In 2009, as a part of the restructuring plan, the company consolidated engine and transmission plants, closed a distribution facility, discontinued the domestic transportation fleet, consolidated vehicle test facilities, and exited the Buell product line. In September 2010, the company’s unionized employees in Wisconsin ratified three separate new seven-year labor agreements, which take effect in April 2012 when the current contracts expire. The new contracts would allow flexibility and increased production efficiency.Harley-Davidson also repurchased expensive debt worth $300m and is expected to save $45m annually for three years. In December 2011, the company announced plans to cease its operations at New Castalloy, its Australian subsidiary producer of cast motorcycle wheels and wheel hubs; and source those components through other existing suppliers. This move was made in line with its overall strategy to develop world-class manufacturing capability throughout the company by restructuring and consolidating operations for greater competitiveness, efficiency and flexibility.Such restructuring initiatives by Harley-Davidson are expected to improve its operational performance in the long-run. * Threats New Emission Standards for Two Wheelers Harley-Davidson could face increased challenges in its two wheeler business due to the stringent emission standards. According to Dealernews. com, motorcycle industry stakeholders in Europe announced plans to increase EURO 3 emission standards to more stringent EURO 5 standards by 2015. Association des Constructeurs Europeens de Motorcycles (ACEM) is likely to introduce EURO 3 standard for mopeds and Euro 4 standard for motorcycles by 2012.It also proposed the introduction of more stringent emission test cycle, and EURO 5 standard for motorcycles by 2015. Such implementations might require the company to redesign its vehicles, which could result in increased operating costs. Failure to comply with the standards could result in penalties and affect its profit margins. Procu rement of Raw Materials Harley-Davidson relies on suppliers to obtain raw materials and provide components for use in manufacturing its motorcycles. It depends on a single supplier for certain of its raw materials.Such a situation makes the company’s business dependent on the ability of the supplier to deliver the ordered raw materials in time. The rising input costs could also have a major impact on the operational costs of Harley-Davidson. Increasing pressure of the costs of commodities leads to capacity constraints, lower production and financial distress to raw material suppliers. In case of a delay in receiving the raw materials, product delivery to its customers could also get delayed, which impacts its business and customer relations.Competitive Landscape Harley-Davidson manufactures motorcycles in the US, Canada, Europe, and Asia. Many of the company’s competitors have more diversified businesses and they may compete in the automotive market or all segments of the motorcycle market. Its motorcycle retail prices are generally higher than that of its competitors. If price becomes a crucial factor for consumers in the heavyweight motorcycle market, Harley-Davidson would be at a competitive disadvantage.Moreover, its financial services operations face stiff competition from various banks, insurance companies and other financial institutions that may have access to additional sources of capital at more competitive rates and terms, particularly for borrowers in higher credit tiers. The company’s failure to address and respond to these competitive pressures worldwide would have a material adverse effect on its market share. 1. Identify and develop a range of alternative strategic options to meet strategic aims and objectives 2. Determine and justify the strategic option that meets the revised strategic position

Tesco Plc. 2012 Annual Accounts compare them with Sainsbury Plc. as appropriate

Tesco was established in 1919 and now has become the largest retailer in the UK, the second largest retailer measured by profits and third largest retailer measured by revenues in the world. It has operations in 14 countries with 520,000 people employed and millions of customers served every week (Tesco, 2013). Tesco’s 2012 Annual Report has just published, through which we can critically analyse the company’s operational and financial conditions.There are numerous relationships between the figures published in the annual report, and ratios have been commonly used for conducting a quantitative analysis of these relationships (Atrill and McLaney, 2013). They are calculated by comparing the current year numbers (2011-12) with previous years (2010-11) and other companies. Hence, J Sainsbury plc (known as Sainsbury’s) is chosen since it is the major competitor of Tesco at home. The ratios can be classified into five categories, namely profitability ratios, liquidity ratios, activity or efficiency ratios, gearing ratios and investment ratios. When using the ratios to assess two companies’ performances, relevant social, political and economic changes will all taken into account.Profitability Ratio Profitability ratios are the ratios used to assess a company’s capability to generate earnings in comparison to its expenses and other relevant costs. Major profitability ratios include return on investment (ROI), return on capital employed (ROCE), gross profit margin and net profit margin. Firstly, ROI is a concept evaluating the efficiency of an investment, and equals to ‘net profit after tax’ dividing ‘shareholders’ funds’. For Tesco, its ROI for the financial year 2011-12 was 15.8, decreased by 1.9% from previous year. Nevertheless, it is still better than Sainsbury’s, which got only 10.6%. Therefore, it can be argued that in general the investment on Tesco is more efficient and you can get bette r return.Besides ROI, ROCE is a similar concept which is a relative profit measurement demonstrating the return the business generated from its gross assets. A higher ROCE shows that the company is using its capital more efficiently. In consequence, ROCE should be higher than company’s capital cost, otherwise it tells us that the company is not employing its capital effectively and is not generating shareholder value.It is calculated by ‘profit before interest and tax’ diving ‘shareholder’s funds + long-term debt’. Tesco’s ROCE for the financial year 2011-12 was 13.3%, higher than previous year’s 12.9% and Sainsbury’s 11.1%. The rise of ROCE to some extent resulted from the discontinued operation of Japan. From this point of view it can be argued that Tesco made a right decision to exit from Japan where its investment failed to generate good returns (The Telegraph, 2012).Moreover, gross profit margin and net profit margin are the other two commonly used profitability ratios. The former is defined as the percentage between ‘gross profit’ and ‘sales’, whereas the latter is the percentage between ‘net profit’ and ‘sales’. For Tesco, the two ratios both decreased compared to previous year: The gross profit margin reduced from 8.5% to 8.2% and the net profit margin reduced from 6.0% to 5.9%. It means that this year the company failed to control cost as well as last year. The reduction was caused by various reasons. First of all, the economic downturn in the UK, particularly the high petrol prices and falling real incomes affected  customers’ discretionary spending significantly(BBC News, 2012). In addition, 2012 was a transition year for Tesco .The company not only changed its chairman, CEO and a number of other senior managers, but also made some adjustment on organisational structure and business focused. Finally, the company decided to increa se investment so that to improve customers’ shopping trip, making trading profit declined. In spite of these challenges, Tesco still outweighed Sainsbury’s on profitability, which got 5.4% and 3.6% respectively.Liquidity ratios The second category of ratios called liquidity ratios, which are utilized to determine the ability of a company to pay off its short-term debts. There are important as companies must ensure that these ratios are liquid otherwise they may have problem in paying back its creditors. Two important liquidity ratios are current ratio and acid test ratio.Current ratio measures ‘current assets’ (cash +debtors + stock) against ‘current liabilities’. Tesco’s current ratio in 2012 was 2.01, reduced from 2.12 in 2011. The current asset was rising, but it failed to offset the bigger rising of current liabilities, which was mainly led by the increased short-term borrowings. In 2012 there was a â‚ ¬1500 million medium term n ote (MTN) matured. Nevertheless, it still outperformed Sainsbury’s, whose current ratio was 1.84 in 2012. Because Tesco’s current ratio for the past two years were both greater than 2, it means that the company has no problem to meet creditor’s demands.Acid test ratio differentiates current ratio by excluding stock from the equation as stock may not easily be converted into cash. Tesco’s acid test ratios for the past two years were 1.56 (2011) and 1.45 (2012) respectively. Though decreased by 7.1%, it still great than 1 and Sainsbury’s 0.99, again indicating that Tesco has enough short-term assets to cover its short-term liabilities without selling inventory.Activity/Efficiency Ratios This category of ratios, which mainly includes ratios such as asset turnover,  stock turnover, debtor days and creditor days, measures how well a company utilizing its internal assets and liabilities.Primarily, asset turnover, which equals to ‘sales’ di viding ‘total assets’, measures how efficiency a company is in using its assets to achieve sales revenue to the company. Tesco’s asset turnover ratio in 2012 was 1.27, lower than its previous year’s 1.28 and Sainsbury’s 1.81. Since those companies with low profit margins tend to have high asset turnover ratio whereas companies with high profit margins tend to have low asset turnover ratio, Tesco has bigger profit margin than Sainsbury, and this advantage has been expanded. We should also realize that companies in the retail industry like Tesco and Sainsbury tend to have higher asset turnover ratio than companies in other industries because of their competitive even cutthroat pricing.In addition, the stock turnover ratio indicates how many times a company’s stock is sold and replaced over a period, for instance a year, and is calculated as ‘cost of sales’ divided by ‘stock’. According to this formula, we can get the r esults of 17.50 and 16.48 for Tesco in 2011 and 2012 respectively and 22.48 for Sainsbury’s in 2012. The numbers are within the appropriate interval. A very low stock turnover rate may indicate overstocking whereas a overtop rate may point to stock shortage, which further result in the loss in business. From this point of view, both of the companies manage the stock appropriately.Thirdly, debtor day measures the number of days, on average, that customers take to pay. The formula is ‘debtors (accounts receivable) / sales * 365’. Companies should ensure that its debtor ratio is neither too high nor too low. Otherwise it may face potential risks of either losing customers or losing profit by bad debt. Since most of the retailing business is cash business, supermarkets usually have very short debtor days. Tesco’s debtor days for the past two years were 14 days (2011) and 15 days (2012) respectively while Sainsbury’s has a even shorter debtor day of 5. C reditor day, on the other hand, measures the number of days, on average, that companies take to pay its suppliers.It is calculated by ‘accounts payable / cost of sales * 365’. From the formula we can get that Tesco had 60 creditor  days for the past two years. Together with a very short debtor day, it is evident to see its bargaining power in the market. This helps Tesco maximize profits. Sainsbury also has a big creditor day of 47 days, indicating its strong bargaining power as well.Gearing Ratios Another category of ratios is defined as gearing ratios, including gearing and interest cover ratio. Gearing is defined as the portion of net assets financed through debt rather than equity, and the calculation formula is ‘long-term debt / shareholders’ funds + long-term debt’. The aim of the calculation of gearing ratio is to see whether the company is able to get a healthy long-term financing. Tesco and Sainsbury’s both have good gearing ratios. For Tesco, its gearing ratio in 2012 was 38.4%. In comparison with 40.8% in 2011, it reduced by 5.9%. The decreased gearing reflected Tesco’s stable debt position despite the investment in assets growing. For Sainsbury’s, its gearing ratio in 2012 was 31.7%, meaning that it used even smaller portion of debt to finance net assets.Investment Ratios The final category of ratios is referred to as investment ratios, which are mainly calculated to meet the interests of shareholders and potential investors of the company. The most commonly used shareholder returns rations include dividend per share, dividend yield, and earnings per share (EPS).First, dividend per share, equalling ‘dividend paid’ divided by ‘number of shares’, reflects the belief of the company’s management towards its future growth. For instance, a growing dividend means that the company’s management is confident that the growth can be sustained. Tesco’s 2012 fu ll year dividend was 14.76p, which was an increase of only 2.1% on last year, but lower than Sainsbury’s 16.1p. Although the company continued the record of consecutive years of dividend growth in the FTSE 100, for its shareholders, 2012 was a tough year. The company’s management explains that this was due to their new strategy to forego some short-term profit to re-invest in the long-term health of the business.Second, dividend yield shows how much a company pays out in dividends each year relative to its share price. In the absence of any capital gains, it equals to the return on investment for a stock. Dividend yield can be calculated according to the formula ‘dividend per share / Market price per share’. On 30th March 2013, Tesco and Sainsbury’s dividend yield were 4.24 and 4.14 respectively.Furthermore, earnings per share, known as EPS and calculated as ‘profit after tax’ dividing ‘number of shares’, shows the profit ( or loss) made by every issued share. It is an important indicator of a company’s profitability, and also the single most significant factor in determining the share price. In 2012 Tesco’s EPS was 37.4p, increased by 2.1% from 2011 and higher than its competitor Sainsbury’s 28.1p. Consequently, we can argue that Tesco achieved a modest profit growth in 2012 and it is more profitable than Sainsbury’s.Non-financial performance analysis Financial information particularly the ratio analysis has its limitations. Therefore, we need to analyse non-financial information as well. Primarily, from the scale of the business, Tesco definitely enjoys a larger business scale. It has businesses in 14 countries throughout the world and the total stores numbers is 6,234 in 2012. By contrast, Sainsbury’s on operates in the U.K. with around 1,000 stores. Additionally, from the brand reputation and value aspect, Tesco in general outweigh Sainsbury’s to a large ex tent, particularly in global markets. Nevertheless, at home Sainsbury’s brand awareness is almost as famous as Tesco since the company is using competitive pricing strategy and providing fresh goods to improve customer loyalty.Conclusion To sum up, this essay has used five categories of ratios to critically assess the financial performance of Tesco in view of previous year’s results and the competitor Sainsbury’s. Generally speaking the company delivered modest profit growth in a challenging economic environment, with a strong international performance largely offset by a reduction in UK profits. Owing to strategic changes on organisational structure and business focused,  Tesco’s financial performance was negatively affected. Nevertheless, in many aspects such as profitability and liquidity it still outperformed its major competitor Sainsbury’s. It is confident that the company is able to pass the period of change and development smoothly and it s future prosperity can be expected.

Cooling Water Lab

Cooling Water Lab Background: 1. Temperature is a measure of molecular motion; the average kinetic energy of the particles. 2. Heat is a form of energy that flows from a system at a higher temperature to a system at a lower temperature; the total kinetic energy of the particles. Hypothesis: If two beakers containing different amounts of hot water are placed into an ice bath, then the one containing ________ (more or less) water will cool down more quickly. Materials: 2 Beakers Ice Hot Water 2 Thermometers Graph Paper Procedure: 1.Copy the data table onto your paper. 2. With stopper in place, fill basin (sink at lab table) about half full of ice. 3. Place one beaker containing 400 ml of hot water and one beaker containing 100 ml of hot water into the ice bath. 4. Record the temperature of each beaker every two minutes for twenty minutes. 5. Construct line graphs of your data. Time will be on the X axis and temperature on the Y axis. Data Table: Analysis and Conclusion Questions: 1. W hat was your hypothesis? 2. Was your hypothesis supported by your data? . What is temperature? 4. What is heat? 5. Which beaker contained more heat energy? 6. How are heat and temperature different? 7. How would the amount of energy absorbed by melting 10 grams of ice compare with the energy released by freezing 10 grams of water? 8. If you mixed 20. 0 ml of 20. 0 oC water with 20. 0 ml of 60. 0 oC water, what would be the final temperature of the mixture? 9. If you mixed 10. 0 ml of 20. 0 oC water with 30. 0 ml of 60. 0 oC water, what would be the final temperature of the mixture? 10.Draw pictures of a teacup and a bathtub both filled with water at the same temperature (show relative particle movement). Which contains more heat? 11. A candle and a bonfire both burn at about the same temperature. Compare the heat content of each. Some material adapted from ChemSource: Instructional Resources for Preservice and Inservice Chemistry Teachers. KEY Analysis and Conclusion Questions: 1. W hat was your hypothesis? Answers will vary. 2. Was your hypothesis supported by your data? Answers will vary. 3. What is temperature? easure of the average kinetic energy of the particles in a sample of matter 4. What is heat? measure of the total kinetic energy of the particles in a sample of matter 5. Which beaker contained more heat energy? The beaker containing 400 ml. 6. How are heat and temperature different?7. How would the amount of energy absorbed by melting 10 grams of ice compare with the energy released by freezing 10 grams of water? It would be the same. 8. If you mixed 20. 0 ml of 20. 0 oC water with 20. 0 ml of 60. 0 oC water, what would be the final temperature of the mixture? 0. 0 oC 9. If you mixed 10. 0 ml of 20. 0 oC water with 30. 0 ml of 60. 0 oC water, what would be the final temperature of the mixture? 50. 0 oC 10. Draw pictures of a teacup and a bathtub both filled with water at the same temperature (show relative particle movement). Which contains more heat ? Pictures; the bathtub. 11. A candle and a bonfire both burn at about the same temperature. Compare the heat content of each. Bonfire has more heat. Temperature (oC) Time (minutes) Beaker with 400 ml water Beaker with 100 ml water 0 2 4 6 20

From Social Media Revolution to Social Media Evolution Dissertation

From Social Media Revolution to Social Media Evolution - Dissertation Example Marketing executives of five telecom company were approached to answer the questionnaire about SMM strategies and approach of their company. The method adopted in this research is qualitative research approach coalescing diverse case studies in the research strategy. SMM executives of five telecom companies were each provided with a specific questionnaire coordinated to their terrain of business. The five cases were analyzed with the help of data collected from the questionnaire. On the whole, result of this thesis concludes that communication by means of SM is still in the evolutionary stages of its development. Companies in general commend SM as a successful tool to surpass and sustain marketing communication, nevertheless, companies applaud SM as a tool for marketing communication. SM has brought revolution in the realm of communication, it holds immense growth potential concerning delineation and stipulation or blueprint of distinct platforms, for the reason that not all the avai lable platforms are convenient and relevant for every company. Table of Content Abstract....................

Anti-competitive Behavior of the Wisconsin Chiropractic Association Essay - 3

Anti-competitive Behavior of the Wisconsin Chiropractic Association - Essay Example The FTC functions as an equalizer between the vulnerable consumers and the wealthy and powerful businessmen and corporations. It serves as a monitoring agency in the regulation of commodity prices. It also serves to protect businesses from each other by giving all of them fair and equal opportunities to trade their wares in the consumer market. Public policy considerations against anti-competitive behavior revolve around keeping the prices of commodities and services affordable to the public while still achieving a high level of quality in goods and services. The FTC monitors the consumer market for possible violations in anti-competition and anti-trust policies. This monitoring is done with the help of the consumers. Consumers are encouraged to report unfair competition practices of businesses and industries. Through the FTC, many industries are encouraged and motivated to produce high-end goods and services while still making them available to the consumer at affordable prices. The public has the right to expect an assortment of choices in their goods and services. It also has the right to be protected against businessmen and corporations who may take it upon themselves to agree about prices in order to manipulate the market. The public has the right to be protected against monopolies. Monopolies restrict the public’s right to avail of similar products traded by other companies. This practice restricts the participation of industries in similar trading lines controlled by more dominant corporations.

Experience when work was criticized Essay Example | Topics and Well Written Essays - 750 words

Experience when work was criticized - Essay Example The specific incident involved a creative story that I had written. The story was a work of fiction and it involved an experimental form of structure and language. My intention with the story was to attempt to develop new ways of advancing the story. In these regards, the structure of the story was greatly influenced by movies such as Memento and Inception, in that the narrative didn’t advance in a strictly straightforward way, but instead jumped throughout different time periods. In addition to the story implementing experimental story structure, at times it also implemented experimental language; in these regards the story was influenced by books, such as 1984 and a Clockwork Orange because these books also used invented words and different text. While I recognized that in implementing these methods, the story would potentially be made more difficult to read, I felt they were necessary to add a touch of originality and fresh perspective to my work. However, when I had a numb er of individuals read the story many reacted negatively indicating they did not like the experimental elements incorporated into the story. My reaction to the negative criticism of my story was complex. Initially I resented the criticism I received from these individuals and began to think that they didn’t appreciate what I was attempting to accomplish with my writing. I began to believe that if the people who criticized the story had spent more time trying to read it then they would have understood it to a greater extent.