Characters of a Seperate Peace Essays

Characters of a Seperate Peace Essays Characters of a Seperate Peace Paper Characters of a Seperate Peace Paper Finny are the two primary characters of the book A Separate Peace by John Knowles. They are two extremely deferent individuals however figure out how to at present be companions notwithstanding. Over the span of the book, it becomes obvious Genes envy for Finny. Anyway given the idea of Gene and Fannys characters It Is practically Impossible for Gene to not begrudge Finny. Quality Is a fantastic scholastic understudy, yet feels that he needs something else. When taking a gander at his Myers-Briggs character type he appears to fit into that classification off JIFFS. These sorts of individuals are said to think about individuals and work interminably for beneficiary sake. They want to satisfy others and feel required. This applies to Gene with his very mutually dependent relationship with Finny. He needs to urgently to be what Finny is. What's more, a taking off feeling of opportunity uncovered this more likely than not been my motivation from the first: to turn into a piece of Phonies. (77) I accept that Gene urgently needs to fit in and be enjoyed and will satisfy anybody to do as such, yet not without disdain being held. His longing to fit in and be something other then himself Is appeared In how rapidly he is happy to Join the military. Finny Is an astounding competitor, enchanting, and amusing. He can pull off Just about anything, the principles Just dont appear to concern him. When taking a gander at the Myers-Briggs test I would order him as a FEND. These kinds of individuals are supposed to be warm and eager individuals, and great at nearly anything they set their attention to. Finny has a specific hold over individuals, particularly Gene. Quality starts to understand this when he thinks What was I doing up here in any case? For what reason did I let Finny talk me into idiotic things like this? Is it true that he was getting a hold over me? (9) Finny doesnt intend to be manipulative or have a hold over individuals he is authentic in his craving to make things progressively a good time for other people. When taking a gander at Gene and Finny as people you see two totally different individuals. You consider Gene to be somebody who feels the longing to please individuals yet isn't happy with himself, and Finny as somebody who Is a fabulous competitor and has an evident appeal. In view of Gene and Flybys cozy relationship, Finny Is the individual Gene chooses to need to be Instead of himself. This craving at last converts into envy. At the point when Gene begins to get mindful of this new he legitimizes it by peering toward its a shared competition. Indeed, I detected it like the perspiration of alleviation when queasiness dies; I felt much improved. We were much all things considered, even in ill will. The lethal competition was on the two sides all things considered. (54) Gene accepts that since he is Jealous of Fannys athletic capacities, that Finny should consequently be Jealous of Genes scholastic accomplishments. When Finny tumbles off the tree because of Gene shaking it, from the start Gene feels a feeling of freedom rather than blame, in light of the fact that in a way he has vanquished Finny. Once Finny can never again be an extraordinary competitor the sentiment of jealousy is briefly lifted. Quality and Finny begin to cooperate as a unit, helping the other where they are frail. When Finny bites the dust, Gene is fulfilled on the grounds that he will at last live on to be Finny. In a Separate Peace the human instinct of jealousy Is taken a gander at. Quality feels an anomalous huge disdain and jealousy towards Finny, though Finny appears to at first feel no jealousy at all towards Gene. When Finny bites the dust Gene is at long last ready to be Tree, wanly presents ten journey In my mina need IT Gene Ana never met Hon.: w he have kept on living on wanting to be somebody other then himself, or would he have arrived at self acknowledgment through an increasingly solid methods?

IBM Corporation Turnaround Essay

IBM driving the innovation business went through a few difficulties in most recent couple of decades. IBM had experienced huge changes to guarantee adequacy of its business. Market rivalry and globalization of industry diminished the viability of IBM requiring change in structure and work setting. IBM concentrated on its center abilities while effectively received new administrative structure setting accentuation on adaptable dynamic with expanded duty on first line administrators. Case Statement IBM was effectively driving the innovation business since its development and beneficially infiltrated in different markets internationally. In any case, the organization extended rashly bringing about expanded overhead expense; in spite of the fact that benefits were taking off yet continuous change sought after before the finish of year 1990 make huge budgetary issues for organization delineated in enormous misfortunes for the sequential three years. This case recognizes the reasons which root to IBM condition in 1990 and successive example of changes in structure which influenced the money related execution of organization. This case characterizes the job of the executives in IBM execution and related effect of overhead on organization potential to develop. Essentially, this case orders the issues which plunged the IBM to move towards disappointment and related job of the board. Circumstance Analysis of IBM under John Akers Leadership IBM was controlling approx. 70% benefits of worldwide innovation industry in 1980s starting time. In any case, during the most recent long stretches of decade organization was experienced with major issues that influenced the presentation of organization. John Akers, CEO of IBM selected in year 1985, made noteworthy changes in association structure and work settings; characterized new setting of dynamic and operational techniques acclimating his demeanor and conduct. Organization returns on resources and on value began disintegrating lastly move towards negative profit for business. IBM endured with diminishing piece of the pie, loss of benefits, negative observation working of clients towards IBM, expanding rivalry, and disappointments in item dispatch (Hitt et al. , 2007). IBM was endeavoring hard to contend with new contestants in showcase, keep up its productivity level, and kept high market interest for its centralized computer PCs. Organization was following bureaucratic structure, concentrated dynamic frustrating to the development of organization. IBM overhead expenses were earth shattering to industry normal cost; overhead expenses were multiple times of industry, organization was offering high advantages and advantages to representatives, lion's share of representatives were impeding to work prerequisite, administrators were not completely beneficial and were depending on junior individuals to play out their obligations (making pointless business). Organization had 125 server farms all around; inside association was not capable in IT the executives bringing about awful execution of IBM. Research branch of IBM seemed unfit to plan items with regards to client request which made noteworthy issues in the start of 1991 (Hitt et al. , 2007), pushing organization towards change in the board structure, and requiring huge scope operational change in association to conceal its expense from current interest level. SWOT Analysis of IBM is working all inclusive standing out with its unrivaled arrangement contrast with competitor’s contributions commenting the business execution. A short SWOT investigation of IBM is as under: Qualities IBM offers a scope of answers for various organizations which separated it from contenders. IBM was managing in centralized servers, centralized server stockpiling, single client PCs, minicomputers, and customer/server arrangements. Organization was taking off high benefits from the business, in this manner spending high sum on R&D to create and structure items regarding future interest (Hitt et al. , 2007). IBM has solid brand picture which expands the organization maintainability and productively enter in serious markets. Organization had successful groups of faculty; reach to clients was important because of high incentives. Shortcomings IBM was following bureaucratic structure and senior administrators were running the operational choices; restricted dynamic force decreased the advancement and impeded the development of organization. Organization had utilized superfluous individuals to satisfy work errands, expanding the expense. Nonetheless, senior administration individuals were depending on junior/bolster individuals for detailing purposes which brought about refined data stream essential for association work regardless of difficulties that can be looked in since a long time ago run. Executives’ compensation was high contrast with administrations consequently to association; overhead expenses significantly increment as various contenders entered in industry (Hickman, 2006). IBM didn't concentrate on offering of program and system mix application which altered the business in mid 1990s; anyway putting resources into OS/2 working framework brought about money related misfortunes. Openings IBM being one of the goliath chiefs of innovation industry makes sure about high benefits and piece of the pie. This gives organization a chance to overwhelm private company elements to offer different and complete scope of items to client (one stop arrangement). Contenders were contributing tremendous sum on new items creation which IBM can use in its item portfolio to arrive at worldwide buyers to build brand esteem. Dangers New contenders which incorporate DELL, ACCENTURE, COMPAQ and MICROSOFT concentrated on offering PC items at modest costs (Hitt et al. , 2007); IBM depend on Intel for a portion of its center physical part flexibly; IBM client relationship the executives system; wastefulness of R&D to plan inventive arrangement; showcase globalization and association structure made direct dangers to IBM piece of the overall industry.

What is Company-Owned Life Insurance - COLI

What is Company-Owned Life Insurance - COLI Corporate owned life insurance which is also known as “dead peasant insurance” is the life insurance that is purchased by a business on the life of an employee.The employee is the subject of insurance (insured) while the business or employer is the beneficiary.If the employee that is insured dies, his employer will receive the death benefits from the insurer.Even when the employee leaves the company, that particular company will still remain the beneficiary. Company-owned life insurance can be written for a group of workers or one worker as the case may be.This is no surprise as stats reveal a rise in unexpected employee deaths. Hence, firms seek to protect their business due to the effects of losing important staffs. Source: YouExecThe Corporate-owned life insurance was formed to protect the business from the effects that the deaths of executives and employees who are vital to the operation of the company.When employees who play vital roles in a business dies, the business may face a lot of challenges and it will take a while for the business to adjust to the absence of this valuable employee, this insurance enables the company to weather the storm and get back on their feet.Companies believe that the more important a person is and the role he plays in the organization, the more difficult it will be to replace the person when he dies.The insurance policy will enable the company to foot the bill of finding a replacement for the deceased staff.This is the major reason why Company-owned life insurance is commonly used for the top executives of a firm. These executives are harder to replace than other regular employees.Certain people think that it is inappropriate for a business to cash in or benefit from the death of an employee especially when some employers take advantage of this to exploit tax loopholes.But companies believe that it is just seeing that the demise of a top employee or executive can put the company in a tight spot.The companies dont consider this to be taking undue advantage of the death of the employees, it is however considered to be a way of ensuring that the finances and smooth running of the company are not affected by the death of an employee.If the companies have to bear the cost of replacing dead employees from the pocket of the company, it may affect the finances of the company either immediately or in the long run especially when the loss of more than one top executive is experienced within a short time frame.PURPOSE OF COLIThe original aim of the adoption of the Company-Owned Life Insurance was to hedge against the financial costs that came about as a result of the loss of life of key employees and the risk of recruiting and training the replacemen ts for the deceased key employees.COLI can be utilized to generate income for organizations which is then used to offset the benefits costs that spill over to the income statement. These death proceeds, which are gotten tax-free, can be used to recover expenses related to offering benefits. Source: Fulcrum PartnersIt was also aimed at finding corporate obligations to redeem stock when the owner of a business dies.When employees are being hired a part of the requirements for the firms that adopt COLI is that the employee has to write a written consent to the insurance policy.Presently, the benefits from COLI can be paid to the family of the employees directly, but the company paying the premiums has the right to legally deduct from the earnings and the corporate profits.Most people think that company-owned life insurance is the same as additional insurance coverage of companies which is geared at protecting the employees and their families.Under the insurance coverage of companies, the family of the insured staff is the beneficiary of the benefits of the insurance but with the corporate-owned life insurance, the business are the beneficiaries of the insurance benefits.As stated earlier, the company owned life insurance is required to enable the organization to pay for th e cost of finding a replacement for a valuable employee who dies.Most often this replacement process can be expensive and the insurance benefits will enable them to pay for the cost incurred without taking from the companys account.Another reason is that the benefits from the insurance will provide a way for the company to earn additional income which usually exceeds what the company pays in premiums.HOW DOES COLI WORK? To further understand what COLI entails; it is important to know how it works.Company-Owned Life Insurance consists of two major parts namely: the cost of insurance and the cash value.The cash value is the savings element (i.e. funds invested in assets such as stocks and bonds) of the policy while the cost of insurance consists of the amount that will be paid for the death benefit and the administrative expense.The savings element of the cash value can be held in a general account or a separate account. When it is in a separate account, the policy holders control the assets and can decide on how to allocate the funds.When the value of the underlying assets changes; the value of the savings portion also fluctuates.On the other hand, when the company-owned life insurance is set up with a general account, the control of the assets is in the hands of the insurer, it is the insurer that will decide on how to allocate money among the assets held, he also is responsible for the declaration of the yearly application rate of return.TYPES OF COLIThere are two types of Corporate-Owned Life Insurance.The two types have varying modes of operation and they also have different advantages and disadvantages.1. Superheated AccountThe first type is the superheated account where professional brokers invest the cash value; the account holder is responsible for the risks of the investment.2. The General AccountThe second type is the general accounts where the insurance company in a general portfolio is responsible for investing the cash values of the policies.The in surance company is responsible for the risks of the investment.Before choosing which type to implement, the firm will examine the pros and cons of the two types and they will choose the one that serves the needs of the organization.FORMS OF COLIThere are also two forms that the company-owned life insurance takes.The first is key person insurance while the second is split-dollar life insurance.1. The Key Person InsuranceUnder the key person insurance, the company is compensated for the loss of a key person such as the president or a partner. Life or disability benefits are also provided under key person insurance.2. The Split-dollar Life InsuranceThe split-dollar life insurance, however, involves the splitting or sharing of the premium, the cash value of benefits of the insurance between the employee and the company.There are various options available under the split-dollar life insurance, for example, all the death benefits of an employee can be paid to the beneficiaries of the empl oyee or the company can receive the cash value of the amount it paid in premiums.IMPORTANCE OF COMPANY OWNED LIFE INSURANCEBelow are the importance of Company Owned Life Insurance:1. It Gives the Company a Cash ReserveWhen a company purchases company-owned life insurance, it buys the traditional death benefit coverage amount while giving the company insurance coverage that can compensate the company for the loss of a valuable employee or executive.The cash value of the policy enables the company to have access to funds that it can use to expand the business. The cash value from the insurance can become a saving from the company which will be used to carry out other business operations.2. It Gives the Company Access to a Lower Premium Cost and Higher Cash ValueHaving COLI gives a company the advantage of having good pricing on premiums.If the company is buying cash policies it can be offered as special policies that are designed to generate cash value quickly and easier than other po licies.These policies are designed to show the cash value of the policy as an asset to the account books of the company especially in the early years of the policy.3. Companies can use it to Retain Employees Having a company-owned life insurance is often very enticing to employees especially since it gives them access to enjoying the benefits of group term coverage.If an employee is concerned about the commitment of his employer to provide benefits and compensation over his salary, he can be retained in the company when the employer offers him COLI this will boost confidence in the company.Some companies use this as a competitive advantage to keep the best employees in their company.4. Pre-tax Premium PaymentsCompanies can make pre-tax premium payments on behalf of the employees on a pre-tax basis.This gives the employees and the company the ability to buy more life insurance that they would legally buy if they were operating a private policy.Organizations make use of the Company-Ow ned Life Insurance to soften the blow that taxes place on the finances of the organization. They are used to offset the costs of the expensive benefit packages of employees.It is, however, important to note that the company-owned life insurance does not hinder or replace the personal insurance that the employees have.The company-owned Life Insurance benefits the company more than the employee; it doesnt really benefit the insured person or help his loved ones to pay the debts or final expenses he leaves behind so it is important that the employees have personal insurance which will be offered through the employer.BACKGROUND OF COLI As already seen COLI can be gotten on a group or individual basis, and the company generally becomes the owner, beneficiary, applicant and premium payer of the policy.This is because the organization pays the premiums by itself and acquires all the benefits.The individuals or the employees actually insured do not get any of the benefits. Hence, COLI isn†™t for employee benefit. It is usually mistaken for group life insurance which employers offer their employees.COLI take’s on numerous forms. Originally, narrow-based services termed key man insurance were utilized by organizations as a means to protect themselves against the effect of the death of important employees who are costly or especially difficult to replace.Whats more, it was also used for the insurance of the life of top-level executives.Other similar uses of narrow-based COLI services include the financing of deferred compensations for important employees or individual stock redemption agreements.Based on news reports, some organizations, have acquired broad-based COLI services that do not just cover important employees, but for most or all of their employees.This particular application of COLI principles was developed to create a funding source for various other purposes of an organization, such as supplemental pensions, broader employment related perks like retiree h ealth plans, and executive benefits.The use of company-owned life insurance to pay for retiree medical perks is largely linked to the promulgation of Financial Accounting Standards Boards  statement 106 ( FASB 106)Under this statement post-retirement benefits, such as the retiree medical benefits, must be recognized as a cost due to the fact that they are acquired over the employee’s entire working lifetime, rather than like a payment after retirement.If these benefits arent funded in some way, they develop into an expanding balance sheet liability.The Company-owned life insurance benefits accruing to an organization from the death payouts of workers and the tax-free buildup within the policies can be utilized to develop a balance sheet asset that the organization can use in order to offset liabilities and finance the retiree benefits cost.Individuals who support the use of COLI to pay for such retirement benefits costs, state that without the presence of such funding, a lot of c ompanys would have to discontinue that retirement medical benefits.CRITICISMS OF COLIHowever, critics are on the opposite side of the line, stating that the organizations should not make profits from the deaths of low ranking employees. These critics have termed COLI as dead peasant insurance or janitors insurance.Criticisms are also on the issue that although organizations claim to utilize COLI for the purpose of financing employee benefits, there are no regulations of how it is done, as there are for the Employee Retirement Income Security Act benefit plans (ERISA).Whats more, ERISA also makes provisions for tax-preferred investments for employee funding benefits.Even though company-owned life Insurance isnt well known, it has pulled the attention of both the print media and film. In the month of April 2002, a three-part series was initiated by the Wall Street Journal termed the Janitors Insurance- Profiting from Employees Deaths.The articles were extremely critical of COLI and c alled out numerous organizations that had allegedly put in billions of dollars into the company-owned life insurance policies insuring a large number of employees.After the Wall Street Journal articles, other major press co-operations, like the Washington Post, released articles which were critical of BOLI and COLI.  In May 2009 the Wall Street Journal again focused on COLI, reporting on bank filings which reported their utilization of COLI.Whats more, in 2008, banks reported COLI totaling up to $122.8 billion. Asides from this COLI pulled public attention due to how the heavy criticisms it received in Capitalism: A Love Story, a Michael Moore Movie.BANKS AND COLIWhen a bank purchases COLI policies, it is sometimes termed as bank-owned life insurance (BOLI). The Comptroller of the Currency (OCC), in 1996, outline general guidelines for banks in the United States to ascertain that BOLI purchases are consistent with safe banking practices.The OCC stated that buying BOLI is incidental to banking, therefore, making it legally acceptable, if it is useful or convenient in relation to the conduct of the banks business.The office of the Comptroller of the Currency guidelines particularly makes emphasis on the fact that national banks are allowed to use COLI as a cost recovery vehicle or as financing for post-retirement employee benefits.Also, that the COLI value is an organizational asset even after the severance of the employee and employer relationship.Furthermore, it states that employees do not have interest in COLI other than their claim that the organizations assets arise from the banks obligation to offer the stated benefits.LEGISLATIVE PROPOSALSThe Life Insurance Employee Notification Act (H.R.130) was introduced on January 5, 2011, by Representative Gene Green. The aim of this bill was to require that the employee is notified of COLI. This includes the beneficiary of the policy, the benefit amount and violating this would result in unfair trade practice.Thes e requirements were to be enforced by the Federal Trade Commission (FTC). This legislative proposal is quite similar to the Pension Protection Act limitations of 2006.However, these requirements are to be enforced by the FTC and not the Internal Revenue Code as is the case of fur Pension Protection Act limitations.PREVIOUS LIMITATIONS ON COLI The 2006 Pension Protection Act was inclusive of additional tax-code requirements with the aim of ensuring the COLI policy enjoys the normal tax positives of life insurance.These specific requirements stated that these policies have to rest on highly compensated personalities or directors and that all insurance employees have to be notified and give written consent in the same period the life insurance is acquired.The phrase highly compensated employees are inclusive of any worker who gets payouts in the top 35% of the organization. Organizations were also demanded to file yearly returns with the Secretary of the Treasury with details of their utilization of the COLI policies.Keep in mind, however, that the information of these returns is just as confidential as any tax information. The recent interest in COLI is mainly due to the recent congressional focus on insurance.Since 1986, the tax benefits of company-owned life insurance in relation to on tax deductibility of COLI related to loan interest has been under limitations by legislation.In 1986, the Congress slated a deductible interest for all indebtedness which exceeded $50,000 for each singular contract.Only loan interests which were related to policies bought after the 20th of June 1986, were covered.It has been stated that the organizations reacted to this limitation by broadening their specification of life insurance benefits from the executives to regular employees.This, in turn, generated more COLI-related loans, however at the capped amount.Congress in 1996 passed legislation that totally eliminated (inclusive of a phase-out rule) all interest deduction for pol icy loans which cover officers or employees except for important personalities.Going even further, Congress capped the deductible interest rates on top executives and also the pre-1986 contracts which were hinged on the typical corporate bond rate.Certain business responded by proposing to broaden the coverage of life insurance contracts as well as related tax-advantaged loans in order to cover customers and mortgagors specifically.In 1997 Congress addressed this particular reaction by placing more limitations on interest expense deductions.The 1997 ruling required that all interest deductions be diminished via pro-rata calculations based on the cash value ratio of an organizations life insurance policy to the total assets of the corporation.Nevertheless, policies for directors, employees, owners, and officers were removed from this calculation, which suggested that the 1997 change was aimed at addressing particular policies, like those covering borrowers.This approach produced the effect of preventing the interest deduction for cases like lender policies which cover mortgagors.Adding to the increased limitations Congress forced on company-owned life insurance interest deduction, the IRS as well, successful embarked on several cases which were considered to be a play of the system.Furthermore, the Internal Revenue Service provided a settlement initiative with the aim of encouraging the disclosure of shady transactions as well as to cause payment of a part of the presumed tax liability.CONCLUSIONThe company-owned life insurance is utilized extensively by numerous organizations to aid them in achieving their financial goals.Based on various industry surveys, 75% of Fortune 1000 corporations have running COLI programs. Whats more, of the 50 leading banks and thrift institutions in America, 43 of them have gotten Life Insurance.A lot of organizations are currently purchasing Company-owned life insurance policies.Presently, major companies engaged in purchasing COL I include: Citi Baker, Bank of America, Win-Dixie, Walt Disney, American Electric Company, Morgan Chase, Wells Fargo, Procter and Gamble, Dow Chemical and numerous others.

Essay on Forbidden Desire in Shakespeares A Midsummer...

Forbidden Desire in Shakespeares A Midsummer Nights Dream In his play A Midsummer Nights Dream, William Shakespeare explores the conflict of forbidden desire, as revealed through the experience of four young lovers dwelling in ancient Greece. Hermia and Lysander are two of these lovers, and their desire to marry one another is prohibited by Hermias father Egeus, and enforced by the governor of Athenian law-King Theseus. Hermia is informed that she may only agree to one of three undesirable choices: marry Demetrius unwillingly, submit to an austere, celibate life as a nun, or face certain execution. Confronted with these dreadful options, Hermia agrees to flee from Athens towards the remote house of Lysanders widowed aunt, in the†¦show more content†¦By moving the setting outside of the established law of Athens, closer to the undeveloped, primitive realm of the wood, Shakespeare is allowing his characters the undetermined experience of nature, thus metaphorically allowing them proximity to an uninhibited realm of socially undetermi ned reality through nature. This is important, as a prominent question addressed within this play is: What are the consequences of socially forbidding the desires of lovers? The most immediate consequence of forbidding their desires is witnessed in their fleeing the prohibitions of Athens, and venturing out into the uninhibited mandate of nature, where civil human laws are irrelevant and absent. In venturing away from Athens into the wood, the four lovers encounter both the familiar and the unfamiliar in the darkness, via their dreams. By juxtaposing dream states with wakened states, and scenes of daylight with darkness, Shakespeare is conveying transitions from conscious to unconscious states. In illustration, upon awaking from one dream episode, Hermia exclaims: Methought a serpent ate my heart away, and you sat smiling at his cruel prey (2.2, 155). Here Hermia encounters what Freud describes as the uncanny: that which is paradoxically unfamiliar, and yet familiar. As Freud maintains of the uncanny: Every emotional effect [that one has experiencedShow MoreRelatedEssay on A Midsummer Night’s Dream: The Variations of Love900 Words   |  4 PagesLove is only as strong as the people who share it. In William Shakespeare’s play, A Midsummer Night’s Dream, there are relationships from all different viewpoints of love. Four Athenian lovers are caught in a web of love for the wrong person, according to fellow peevish characters. 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Training Key Areas Essay - 992 Words

Training keys areas Wendy Hughes HRM/326 February 25, 2013 Mary Lambert Training keys areas Success is no longer measures by an organization profit margin. Today big businesses have to account for its success on various levels of group in its organizational achievements, community success, and personal growth in management and employees. Business that implement it resources on diversity, employee growth, and legal requirements not only eliminate unnecessary lawsuits but ensured that the organization is revered as the employer of choice. Diversity training The development of exceptional diversity training class organizations extends their reach far beyond race, culture, gender, and workplace ethics. Successful†¦show more content†¦These men and women participate in continued education courses, career development, and counseling services that lead to promotions and internal career advancement. The continued success of managers and hourly employees advancing to salary position produces a rippled affect as managers’ provide insight to the organizations goals. Mangers begin work more closely with employers to coach, mentor, and provide insight into desired qualities that he or she may possessed but require training to develop them further. The end result is a reduction in stress increased productivity, increase in self-esteem, and a reduction in turnovers. Kraft foods and other large organization upon establishing this kind of employee training have developed life long relationship with employees by implementing recognition programs and service awards for safety as well as years employed. Legal requirements According to Noe, (2008) the different situations that can result in legal action against the organization include: Failure to meet training requirement, employee sustaining an injury during training or an injury outside of a training session. 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Market Concept Essay Free Essays

Article from Karl Moore: Karl Moore is PHd associate professor in the Faculty of Management at McGill University was responsible for writing the article â€Å"The Marketing Concept- RIP† which was published July 17th, 2006. He discusses the decline and the increasing irrelevance of the marketing concept idea and how firms are adapting this strategy in today’s market. Moore emphasis on the following points: 1. We will write a custom essay sample on Market Concept Essay or any similar topic only for you Order Now Importance of market research before launching a product 2. The need to focus on the product’s usage by the end users 3. The difficulty firms face to implement the marketing concept strategy in today’s market place. The author uses the example of the high-tech sector and explains why he feels the marketing concept applied in this way is no longer relevant, then goes into detail about how it is not just limited to the high-tech sector. To understand Moore’s article you need to understand what marketing and the marketing concept it first. Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas. The main principles of marketing are to satisfy customers, target the â€Å"right’ customer, facilitate exchange relationships, stay ahead of competitors and enhance profitability (Crane, Kerin, Hartley, Rudelius, 2008, p. 7). The ultimate goal is to satisfy targeted customers, seeking their loyalty and consumption. The marketing concept can be defined as the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition (Crane, Kerin, Hartley, Rudelius, 2008, p. 17). In his opening paragraph Moore mentions that the marketing concept is â€Å"coming to a close† and heading towards a â€Å"semi-retirement†. I strongly disagree with this statement. Why? Since the marketing concept era many companies are now transitioning to the market orientation era (Crane, Kerin, Hartley, Rudelius, 2008, p. 17). The focus of the market orientation era is mainly on continuously collecting information about customer needs and competitors’ capabilities and to use this information to create value, ensure customer satisfaction and develop customer relationships (Crane, Kerin, Hartley, Rudelius, 2008, p. 7). Let us look at how Netflix took the Marketing concept in stride. Netflix involved the identification of the unmet or underserved customer needs. Reed Hastings, founder and creator of Netflix started off as a video rental customer himself, tired of paying late fees and having to run to the video store when he wanted to watch a movie, he decided to create something simpler and more convenient for customers (Dean. 2010). He was able to draw upon personal experience to help establish the opportunity nucleus and survey what other customers wanted out of a video store. The movie rental industry had already established methods surrounding video rental, late return policies, and membership rules. Hastings believed that without competition, these brick-and-mortar movie rental companies would never have a reason to change (Dean. 2010). Reed Hastings, decided to disrupt the traditional video rental business by introducing a new twist on the home movie service (Dean. 2010). A perfect example of advances in technology, adaptation of DVD media over VHS, and an unmet consumer demand is responsible for the successful launch of Hastings’ vision of Netflix. Not unlike other innovative start-up companies, Netflix has undergone several strategy shifts (Dean. 2010). Each change in focus or direction has assured that the company remains dominate in the movie rental industry. It appears that Hastings has followed the Marketing Concept to a tee, he started off with collection information from customer needs’ (his own) and the competitors capabilities (video rental companies were not in a position to change their rules and regulations) and he completed the circle by using customer knowledge to create customer satisfaction as Netflix still remains more popular than Blockbuster or Rogers Video. Moore goes into more detail about the high tech industry, giving the example of the Sony walkman and how the product was developed. He also explains that if Sony followed the Marketing concept theory in creating the walkman, it would have failed. He follows this explanation of the Sony walkman with the comment â€Å"with many high tech products you cannot get a very reliable data from current customers about the potential uses of your future products. † This statement is by far the most ludicrous statement thru out the entire article and makes absolutely no sense. The vast majority of high tech industries rely solely on how customers perceive new and future products. Look at the Apple IPods. Apple made sure they always stayed ahead of the game by releasing new hardware, software, or better and newer applications for the iPod (Taber. 2007). People love new and flashy products so this was a great way to sell a product. The iPod has become a fashion accessory and a must have. People salivate if there hear a new and more updated version of the iPod is coming out, they want a product that can hold more music and data. Why would they want a â€Å"dinosaur† iPod that only holds 1000 songs when they can get an iPod that holds 2000, takes videos, and has downloadable apps? In this sense, the iPod marketing concept strategy made sense because it consistently advanced Apple’s emerging goal of making the Mac the hub of a digital lifestyle (Taber. 2007). It also aligned with the company’s strategic goal of frequently releasing innovative new products in an effort to stay ahead of a curve of consumers who quickly get tired of old gadgets. As usual, it was a strategy that leveraged the benefits of existing technology, and it made sense from the point of view that it was consistent with what historically drove the company, is bringing products to people that were stylish and easy to use. So if Apple didn’t use the marketing concept strategy, it would have failed. The one paragraph in Moore’s article that I do agree with is when he mentions that a great deal of high tech industries do spend more time launching a new product then developing the product. Models of new product development prescribe critical stages that organizations should go through to have a successful product launch (Crane, Kerin, Hartley, Rudelius, 2008, p. 262-271). Regardless of the model, critical phases include: product idea generation, idea screening, concept testing, and business analysis, marketing mix development, test marketing and commercialization (Crane, Kerin, Hartley, Rudelius, 2008, p. 262-271). In theory, going through these stages systematically helps organizations weed out the potential failures. Customer focus is an integral component of the product development process that is often ignored. The need to incorporate the voice of the customer (adopt the marketing concept) at every phase is imbedded in these models of new product development, each phase contributing additional knowledge as to what customers want (Crane, Kerin, Hartley, Rudelius, 2008, p. 263-264). Yet concept testing and test marketing are most often overlooked y new product development teams as they rush to get their product to market before the competition (Crane, Kerin, Hartley, Rudelius, 2008, p. 259-260). Unfortunately, this can lead to fatal errors when customer expectations are extremely high – or when dealing with a sophisticated customer – as is the case for high tech products. An example of this was the Apple Newton; Apple pre-announced the Newton before it was ready. In terms of t he product offering, it was neither a complete product nor a fully functional product (Hormby. 006). In the hurry to get to the market, Apple had not fully developed the handwriting recognition software, one of the featured attributes (Hormby. 2006). While innovators and early adopters are willing to take risks on new products, they do expect a minimal level of performance which the Apple Newton could not deliver. Moore also makes a valid statement in his end paragraph with respect for non-tech marketers have to know who their key customers will be and how the marketers should focus their research efforts. Customer focus, a core element of the marketing concept, is certainly a widely adopted buzzword today, one which is stressed in all introductory marketing texts. While the marketing concept applies to all industries, it is particularly important in technologically driven industries that have been among the first to introduce quality techniques, many of which begin with capturing the â€Å"voice of the customer†. (Crane, Kerin, Hartley, Rudelius, 2008, p. 259). Look at how Apple launched its iPod back in 2001 to appeal to customers. When you watch the iPod commercials on television – what did you see? You see a bunch of people dancing on a colored background. There are women and men, but you don’t know anything else about them. This advertisement is ingenious for many reasons. For one, you don’t know where these people are. They could be anywhere in the world. Secondly, you don’t know who they are or what they do for a living. They can be anyone. All you know is that they are enjoying the music and rocking out. This is what makes that commercial so great and such an excellent idea. It allows anyone in the world to be that person. In conclusion, Moore is correct in his assumption that many high tech industries are in a rush to release their product before actually developing their product. However, it is very unrealistic of him to state that if companies follow the marketing concept they would be doomed to fail, he needs to look at many of the successes of the high tech market such as the Apple iPod or Netflix and how many non-tech industries can learn from Apple’s/Netflix marketing strategy. Although this article was written back in 2006, many advances of technology have taken place and it’s foolish to think that the marketing concept had nothing to do with this advancement. Refernces Crane, F. G. , Kerin, R. A. , Hartley, S. W. Rudelius W. (2008). Marketing. (7th Canadian ed. ). Toronto, ON: McGraw-Hill Ryerson. Taber, David. (17 Sept. 2007 ). â€Å"The Taber Report on IPod Marketing. † The Taber Report. Retrieved April 25, 2011, from http://www. taberconsulting. com/download/dtr-35. htm. Weisbein, Jeff. 1 March. 2008). â€Å"The iPod Success: Thank the Marketing Department†. Retrieved May 5, 2011, from http://www. besttechie. net/2008/03/01/the-ipod-success-thank-the-marketing-department/. Hormby, Tom. (7 Feb. 2006). â€Å"The Story Behind Apple’s Newton†. Retrieved April 25th, 2011 from http://lowendmac. com/orchard/06/john-sculley-newton-origin. html. Dean, Gregory. (10 Nov. 2010). â€Å"Netflix: An Online Business Beyond Geniusâ € . Retrieved May 15, 2011 from http://marketography. com/2010/11/10/online-business-beyond-genius/. How to cite Market Concept Essay, Essays

Ratio Analysis Sportswear Manufacturing Company

Question: Discuss about the Ratio Analysis Sportswear Manufacturing Company. Answer: This report is based on audited consolidated statements financial that have been released about the company as at 30 June 2015. Billabong International Limited has branches in other continents including Asia and America and as such the groups consolidated financial statement must factor in currency valuation in the various countries. The financial performance of the group includes but not limited to fair value adjustment charges and other contingent considerations. The group managed to post a net profit after tax of $ 4.2 million for the full financial year ending 30 June 2015. This is a turnaround compared to a loss of $ 233.6 million that was posted in the PCP previous corresponding period. The results show that the global revenue for the group was up by 2.6 % compared to the previous corresponding period. This was reported to be $ 1.05 billion on the financial year ending 30 June 2015. The positive results is as a result of constant growth in the United states wholesale market which grew by 13.1% on a constant currency basis. In Europe the earnings before interest and tax was up $7.0 million from $5.6 million hence we can see the reason for sales. In Asia pacific earnings before interest and tax dropped by $4.1 million which was impacted by retail and currency which affected input prices. The profitability of a company A company is profitable if it generates enough profit or benefit, that is, when its income is more than its expenses, and the difference between them is acceptable. But it is necessary to do an evaluation of the company's profitability so that we can evaluate the relationship between its profits and the investment or resources it has used to obtain them.And to find this profitability, use is made of indicators, indexes, ratios or reasons of profitability, of which the main ones are the following (Beyersdorff, 2014) The profitability of a company can be measured by ROA.The Return on Asset Index (ROA) is used to calculate a companys profitability over its assets. The efficiency of a company to generate profits using its assets is given by the Return on Asset ratio. ROA = (net income / Assets) x 100 ratio formulae 2015 000 2014 000 Return on assets Net income/total assets 2552/803980=0.32% (239933)/751866=32% Return on Equity Net income/shareholders equity 2552/281584=0.91% (239933)/259039=-92.6% Net profit margin Net profir/revenue*100% 863/1056130*100%= 0.08% (238150)/1027478*100%= =0 Gross profit margin Gross profit/revenue8100% 2552/1056130*100%= 0.24% (233712)/1027478*100%= =0 Analysis of the results Billabong international Ltd is surely struggling. The return on assets or equity ratio is an indication on whether or not the company is making enough profits (Bull, 2005). The companys financial statements indicated that it has been on bear run , and had posted losses from 2013 and year 2014. This explains much why the return on assets ratio and return on equity ratios are way below the recommended figure for a healthy company. The shareholders of this company should be a worried lot since in normal circumstances they cannot expect dividend pay out in the near future (Bull, 2005). Gross p[rofit and net profit ratios indicate that the company has not been doing very well and has not reached the recommended ration in terms of profit margins. The liquidity ratio shows what state your company is in order to pay off short-term debt. It basically serves to determine the economic strength of the enterprise and to evaluate the distribution of the resources with which it accounts (Bull, 2008). It is an accounting criterion that will be very useful to detect eventual problems in the evolution of your business, regardless of the sector in which you act. There are activities in which we work with a lot of liquidity (since the collections and payments are made very short term) while in other companies the terms are longer (Diamond, Stice, Stice, 2000). Thus, although the formula is always the same - a relationship between current assets and liabilities -, the result of the equation will have a different meaning depending on the case, there is no standard value. The liquidity ratio is also known as "liquidity ratio," "available asset ratio" and "cash flow" (Bull, 2008). Interpreting the result In general terms, the closer to 1 is the result of that equation, the better off your company will be to honor short-term commitments even without relying on sales.The further from 1 down, the more problems you will have, because that means you do not have the resources to honor those commitments.But attention, if the result is much higher than 1, this can indicate a low profitability of resources, as it shows the existence of unused assets for the activity (Elliott Elliott, 2005).. Some financial experts indicate as adequate a ratio close to 0.3, but it is a value to be taken with caution, because it will be different according to the entity, sector to which it belongs, dimension, etc. Therefore, it should be analyzed together with other ratios and if possible with the budgets of the company (Fridson Alvarez, 2002). Consider periodically carrying out this calculation of liquidity ratio to evaluate the financial health of your venture so that you can move more safely along the ro ad to success. Ratio Formulae 2015 000 2014 000 Current ratio Current assets/current liabilities 523753/239045=2.19 times 495801/225671=2.19 times Quick ratio (cash+cash equivalent+short term investments+current receivables)/current liabilities (153334+7202)/239045= 0.67 times (145070+10275)/225671= 0.68times Interpreting the results For this case, the company has a current ratio of 2.19 in 2015 which is the same as that of the year 2014. This indicates that the company is in a position to honor its short term liabilities. The recommended ideal ratio for a company to manage its current liabilities in a better way is 2 hence Billabong has managed to control its current assets and liabilities to the level that is recommended (Harrison Horngren, 2001). On the other hand, the quick ratio that is at 0.72 in the year 2014 and 0.77 in the year 2015 portrays a picture that the company could be struggling to honor its short term debt. The rate recommended for this type of ratio is 1, and hence the company could do much better. This analysis completes the impact assessment since it allows to know: If the impact was achieved (effectiveness), If the impact generated justifies the cost of the action (efficiency), Whether there can be more effective and efficient alternatives to achieve the same impact. Efficiency ratios are used to determine whether the companys asdsets can manage the liabilities of the company (Harrison Horngren, 2001).The effectiveness of an action is given by the degree to which the expected objectives in its design were fulfilled. Usually a form of planning is used as the logical framework, in which the hierarchy of objectives is established: general, immediate, specific, goals and activities For each of the objectives envisaged, the effectiveness of the action being evaluated is analyzed, obtaining a general index of effectiveness through a weighting59 of each of the indexes by evaluated objective (Hove, 2006). The impact during the four years of operation is different and in the fourth year, it is zero. It is possible that there have been other training actions and that other companies have developed and competences to achieve better results (Kieso, Weygandt, Warfield, n.d.). Ratio Formulae 2015 000 2014 000 Inventory turnover Cost of goods sold/average inventory 495308/(180222+187125)/2 =0.81 491040/(179662+180222)/2 =2.73 Fixed asset turn over Sales turnover/average fixed asset 1137367/(256065+280227)/2 =4.2 1356946/(202103+256065)/2 =5.92 Creditors turnover Net recivable sales/average sales net receivable*100 207185/(207185/365)*100 =365 185687/(167890/365)*100 =508 Analysis of results The inventory turnover shows that the company has not been managing its inventory well. As indicated in the ratios in 2014, inventory turn over was 2.73 which reduced to 0.81 in 2015. This shows that the company is not managing its assets well enough to generate revenue. This also can be said of the fixed asset turnover ratio, Billabong is not maximizing its fixed assets well enough to generate revenue (Libby, Libby, Short, 2004). The practical interpretation of this result is that for each peso that the company must pay no later than a year, in its short-term asset, discounted inventories, has 70 cents. That is to say, in immediate terms the business no longer looks as good as the solvency ration suggests: it has little liquidity and could (although not necessarily, as it would have to analyze its case more thoroughly) to have problems to pay its debts (Melville, 2011) . On the other hand, too high liquidity is not necessarily good because it would indicate that the company is not investing in the generation of the product or service it offers. It maintains resources available but these practically do not generate yields. It measures the ability of the company to generate profits based on the invested resources. And it is calculated as follows:Ebitda is an indicator of what a business is gaining or losing through its core business, by eliminating distortions brought about by financial and accounting deci sions. It is obtained from the income statement and serves to measure the profitability, however not the cash flow.. It does not factor in the cost to fund working capital and old equipment replacement ( and this may be significant).Its calculation is made by adding again the depreciation and amortization to the operating profit, which is the profit that a company has to operate. Depreciation and amortization is a reserve that reduces the taxable tax base and represents the annual decline in the value of certain assets such as real estate, computers and patents (Weygandt, Kieso, Kimmel, 2003). In order to obtain operating income, which represents the tax base of the Treasury, depreciation and amorti zation, as well as expenses that include salaries and commissions of sales agents, are subtracted from gross profit; publicity and promotion; Per diems; Executive salaries, payroll and office expenses Gearing ratios Financial leverage is simply using debt as a means to finance a certain project. As simple as that may sound there are ratios for measuring the leverage of a company. That is, instead of carrying out its operations and projects with own funds, it will be done with the companys funds and or credit. The advantage it is possible to multiply profitability and the main disadvantage is that the projects being financed or operations do not go well it may end up being insolvent (Wild, Bernstein, Subramanyam, 2001). This huge data load can be overwhelming. Fortunately, there are many well-proven relationships that ensure that the task a little less daunting. Analyzing comparative relationships ( i.e from one year to another) enables to quantify and identify the company's weaknesses as well as stregnths, assess the financial position, and comprehend the risks you are taking. As with any other form of financial statement analysis, These comparative techniques are not definitive and their results should not be taken as an absolute truth. Many factors that are not on the balance sheet can be decisive in the failure or success of a company. However, when combined with other evaluation processes, comparative relationships are invaluable. This text includes descriptions and analysis of Billabong International Ltd and the eight most important types of relationships used in financial analysis: profitability, working capital, income, liquidity, long-term analysis, leverage,hedging and bankruptcy. We understand by financial leverage, or leverage effect, the use of debt to increase the profitability of own capital. It is the measure of the relationship between debt and profitability. When the cost of debt (interest rate) is lower than the yield offered by the investment, it is advisable to finance it from outside resources. In this way, the excess yield on the interest rate implies a higher return on own funds. Ratio Formulae 2015 000 2014 000 Debt to equity ratio (Long term debt+short term debt+bank overdraft)/shareholders equity (239045+283351)/281584 =1.86 (225671+267159+0)/259036 =1.9 Earnings to equity ratio Earnings before interest and tax/interest payable 2552/0 239933/(962012) = Investment ratios Ratio Formulae 2015 000 2014 000 Price/earnings ratio Stock price per share/earnings per share 0.59/0.09 =6.55 0.5/-0.09 =-5.55 Earnings per share Earnings/ no. of shares 0.5 (24.0) Dividend per share Dividend /no. of share 0 0 The stock is doing badly as can be seen above. The company has not given out dividends for the year ending 30 june 2014 and 2015. This is because it posted losses in 2014 and the profits that was registered in 2015 was to be ploughed back into the business. Conclusion The group has been facing financial challenges as shown by the ratios.One of the findingsis that the companys earnings have sometimes been affected by lack of appeal in the market for its products. This might be due to loss of image in the groups brand that made the company to register a loss in two years consecutively from 2013 to 2014. The company is trying to make a turn around and hence it has posted a profit of $2 million in 2015. However, this kind of profit is not enough to pay share shareholders dividends. The financial performance of billabong group is affected by among other factors interest rates, macro economic conditions, consumer sentiment , inflation , foreign currency exchange among others. There was an economic down turn in Europe as the dollar strengthened against the Euros. Billabong receives its revenues in more than ten currencies. Therefore when other currencies have fluctuated, then they will affect the overall performance of the group. This explains why the group has been experiencing dwindling income over the last few years. When the groups assets, profits and liabilities are denominated in other currencies then the profits might appear to be lesser than they are. Secondly, the groups products do not have the market appeal in the face of stiff competition from the superior sports gear companies. This explains why the group has all its ratios below the required threshold. Loss of market appeal to the image or the groups brand positioning is key to its turnaround strategy. Recommendations First, the company should seek to reduce the cost of production which consequently increases the profits. One of the ways of reducing production cost is through outsourcing of materials and labor from cheaper countries. This strategy should be the starting point of its turn around. Secondly, Billabong should consider hedging to mitigate the risk of currency fluctuation that is in turn affecting the results of the company. Hedging makes the makers of financial statement to exactly know the value of the currencies. Thirdly, the companys management should seek to improve efficiency in production References Beyersdorff, M. (2014). International GAAP 2014. Chichester, West Sussex: Wiley. Bull, R. (2005). Financial ratios. London: Spiro Press. Bull, R. (2008). Financial ratios. Oxford: CIMA. Diamond, M., Stice, E., Stice, J. (2000). Financial accounting. [Cincinnati, OH]: Southwestern College Pub. Elliott, B. Elliott, J. (2005). Financial accounting and reporting. Harlow, England: Prentice Hall/Financial Times. Fridson, M. Alvarez, F. (2002). Financial statement analysis. New York: John Wiley Sons. Harrison, W. Horngren, C. (2001). Financial accounting. Upper Saddle River, NJ: Prentice Hall. Harrison, W. Horngren, C. (2001). Financial accounting. Upper Saddle River, NJ: Prentice Hall. Hove, M. (2006). Consolidated financial statements. Cape Town, South Africa: Juta Academic. Kieso, D., Weygandt, J., Warfield, T. Intermediate accounting. Libby, R., Libby, P., Short, D. (2004). Financial accounting. Boston: McGraw-Hill/Irwin. Melville, A. (2011). International financial reporting. Harlow, England: Financial Times/Prentice Hall. Robinson, T. (2009). International financial statement analysis. Hoboken, N.J.: John Wiley Sons. Tan, L. (2011). Consolidated financial statements. Singapore: CCH Asia. Temple, P. (2002). Magic numbers. Singapore: Wiley. Temte, A. (2004). Financial statement analysis. La Cross, WI: Schweser Study Program. Warren, C., Reeve, J., Fess, P. (2002). Financial managerial accounting. Cincinnati, Ohio: South-Western. Weygandt, J., Kieso, D., Kimmel, P. (2003). Financial accounting. New York, NY: Wiley. Wild, J., Bernstein, L., Subramanyam, K. (2001). Financial statement analysis. Boston, Mass.: McGraw-Hill. Wink, G. Corradino, L. (2011). Intermediate accounting demystified. New York, NY: McGraw-Hill.