Victoria’s Secret Pink Keeping the Brand Hot - 1315 Words

Victoria’s Secret Pink: Keeping the Brand Hot Synopsis This case illustrates the general strategy employed by Victoria’s Secret to acquire a new segment of customers through the introduction of its brand Pink. Pink is a line of â€Å"loungewear† (sweatpants, T-shirts, pajamas, bras and panties, pillows and bedding) targeted toward 18-30 year old females. The garments feature comfortable cuts and mostly cotton fabrics in bright colors. New garments are introduced every three or four weeks. The image is one of â€Å"cute and playful† versus the more overtly sexy image of the core brand. The case highlights the different promotional approaches that Pink managers are taking in contrast to those of the core brand. This is a lifestyle brand. The†¦show more content†¦Much of this boils down to the concept of satisfaction: How do consumers perceive the product’s performance relative to their expectations prior to purchase? Pink customers’ expectations could be based on things already mentioned in the previous steps of the buyer decision process. If they are confirmed or exceeded, then the consumers develop some level of satisfaction or delight. They then are more likely to spread positive word-of-mouth and purchase again. If the Pink customers’ expectations are not met, they are then dissatisfied. 2. Apply the concept of aspirational groups to Victoria’s Secret’s Pink line. Should marketers have boundaries with regard to this concept? Certainly, the issue of celebrity endorses as brought up in the case are part of a potential aspirational group for consumers. In fact, that is one of the main reasons that such celebrity endorsers are used (Lindsay Lohan and Sophia Bush and a host of other celebs who receive and wear Pink products). Consumers may aspire to be like such celebrities. Other aspirational groups might include other consumers who are part of a group to which the potential Pink customer aspires, such as sorority members. One other aspirational group should be considered in relation to the second part of this question. Young tweens view older teens as an aspirational group. This issue shouldShow MoreRelatedVictoria Secret : Keeping the Brand Hot1351 Words   |  6 PagesCompany Case Victorias Secret Pink: Keeping the brand Hot I) Analyze the buyer decision process of a typical Pink customer The buyer decision process of a typical Pink customer can be split into five different stages, which can be found in the text studied. The first stage is for the buyer or to recognize the need for the product for instance in this case  «Ã‚  lingerie  Ã‚ ». Teens and tweens are the main targets for Pinks products ; they are in a hurry to change over to maturity in terms of whatRead MoreVictorias Secret Marketing Plan6238 Words   |  25 PagesVictoria’s Secret Dominika Wolfova dominickaaa@yahoo.com MK 300 – Principles of Marketing Ivan Ã… ½Ãƒ ¡ry Marketing Plan Jun 4, 2010 Table of Contents Executive Summary Marketing Objectives Products or Services Resources Needed Projected Outcomes Company Description Strategic Focus and Plan Mission/Vision Goals Core Competency Situation Analysis Internal Focus Strengths Weaknesses External Focus Opportunities Threats Read MoreVictorias Secret Marketing Plan6244 Words   |  25 PagesVictoria’s Secret Dominika Wolfova dominickaaa@yahoo.com MK 300 – Principles of Marketing Ivan Ã… ½Ãƒ ¡ry Marketing Plan Jun 4, 2010 Table of Contents Executive Summary Marketing Objectives Products or Services Resources Needed Projected Outcomes Company Description Strategic Focus and Plan Mission/Vision Goals Core Competency Situation Analysis Internal Focus Strengths Weaknesses External Focus Opportunities Threats Industry Analysis/Trends Read MoreStore Analysis of Victorias Secret and Intimissimi Essay1212 Words   |  5 Pagesthat is projected should be consonant with the ethos of the shop. Interior factors: store lighting, fixtures and fittings, and layout. Color, sound, and smell can affect mood. In this presentation we are going to compare two companies: Victoria Secret and Intimissimi. The layout of both stores is free flow, fixtures and merchandise are grouped into free-flowing patterns on the sales floor – no defined traffic pattern. Works best when merchandise is of the same type, such as fashion apparel. ItRead Morevictorias secret Essay4715 Words   |  19 Pageslingerie can be traced back thousands of years to 3000 B.C., but it was not until 1977 when Roy Rogers founded Victoria’s Secret that lingerie evolved into what we think of now. In this paper, we examine the emergence of Victoria’s Secret as the leading retailer in women’s lingerie, the context for the innovation, and the approaches the firm took to commercialize the innovation. 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Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 6.1. Women focus†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.13 6.2. Entering new markets†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦......14 6.3 Change in frequency and price†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...14 6.4. Avoiding brand dilution†¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.15 6.5. Replacing Hugh Hefner†¦..†¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.15 7. Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 Introduction Playboy Enterprises, Inc. is an international company involved in the publishing, entertainment, andRead MoreProject Mgmt296381 Words   |  1186 Pagesfor action. After the meeting Rachel goes down the hallway to meet with Victoria, another IS project manager. They spend 30 minutes reviewing project assignments since the two of them share personnel. Victoria’s project is behind schedule and in need of help. They broker a deal that should get Victoria’s project back on track. She returns to her office and makes several phone calls and returns several e-mails before walking downstairs to visit with members of her project team. Her intent is to follow

The Conflicting Ethics With The Right - 1540 Words

The Conflicting Ethics with the right to die Adam Kaplinsky Wilmington University What do you do if you have a patient that is in deep pain and has been given a terminal prognosis? You look into the face of this patient and see someone who is weak and unable to take care of him or herself grimacing in pain. The patient knows the prognosis, which is not good, and he or she realizes at this point that their condition will only worsen. The next step is death, but that could take a while, and in the meantime, they must put up with the pain and discomfort that they are faced with in their last stage of life. The last journey could take weeks, days, or even months but both you and the patient realize that it will not be easy. The patient now†¦show more content†¦This particular question is one that comes up a lot in nursing and must be assessed on a case-to-case basis. This issue of the right to die has been the heart of much argument in the past and in certain states, PAD or Physician aid in dying is legal., The main difference in PAD as opposed to Euthanasia is that in PAD, the patient and not the doctor delivers the lethal dose of medication. Euthanasia may become legal in the future as well and the potential for a nurse to assist in this procedure may be very likely. It is therefore important for anyone involved in the medical field including nurses to be aware of all facets of the euthanasia issue and to analyze their own approaches and personal views regarding this issue. Euthanasia is a term used to express a death that is good, Kind and accomplished with a sense of dignity (Kowalski, 1996). Euthanasia has been split up into the two groups of voluntary and involuntary and each can be described as either active or passive. The refusing or complete departure from medical aid with the full consent of the patient is known as voluntary Euthanasia. Involuntary Euthanasia is the withdrawal of this assistance without the agreement of the patient (Kowalski, 1996). Active euthanasia involves the action of death or the actual administration

What is Academic Integrity Free Essays

Academic integrity goes well beyond the limits of any classroom online or off. I believe all students should act with personal respect, integrity, and dignity. That means doing the right thing, even when no one is over your shoulder. We will write a custom essay sample on What is Academic Integrity? or any similar topic only for you Order Now You must your own work, write your own papers and properly citing your resources. When people know that you believe in doing the right thing, are honest, fair, and trustworthy. It shows your behavior is consistent and lets people know to trust your word. For me, I believe It provides and adds more value to your degree knowing you did it fair and honestly. In the workplace, a lot of employers are looking to hire not just graduates but people whom they believe have integrity and have earned their degree honestly. There’s is no honesty in cheating at all. They are looking for someone they believe will be a positive influence and know will carry out their company’s mission. Plagiarism is when you hire someone else to write your paper when you purchase papers, or ask someone else to do your homework or do your test for you. It can also refer to copying the ideas, exact wording, or data without giving credit to the author. You need to trust yourself and your work without taking credit for things you didn’t write. Three examples of infractions that violate the Student Code of Academic Integrity are Fabrication, Misrepresentation, and Self-Plagiarism. Violating any of these three infractions can result in Failing grades for the work and course. A warning letter, and suspension. At the University of Phoenix, we are given resources to avoid plagiarism like the plagiarism checker, allowing enough time for research, and instructions on different ways to use quotation marks for anything your copy. Finally, having academic integrity is important because it personally offers you peace of mind knowing that you believe in doing the right thing, and are always trying to act consistently within those beliefs. It also reduces a lot of unnecessary stress in your life, making you happier, healthier, critical thinking is advanced and you learn more. The assignments you are given in school are meant to help you learn, and the grades you receive for your work show you how well you learned. Therefore, it is important that you complete your work without cheating or being dishonest. As a student, it is best to trust yourself and to approach all your work honestly and integrity. A lot of times we let pressure lead us down the wrong path and don’t appreciate or value what we get from the overall experience. How to cite What is Academic Integrity?, Papers

Refuge Camps Essay Example For Students

Refuge Camps Essay Refuge CampsThere is a foreboding and ongoing crisis facing several third world countries today. This crisis is the rising amount of famine and health ailments that affect hundreds of thousands of individuals that face malnutrition, poverty, and several other serious problems that you will find in developing countries. Countless diseases plague todays world and the people who are most vulnerable to these diseases are also the ones that need the most help. Despite the lack of funds and limited aid available to these people, there is hope. A group by the name of Doctors Without Borders is a non-profit organization that provides free health care in Refugee camps to the great amount of need and helpless individuals that populate our world. Doctors Without Borders (DWB) is comprised of fully qualified and credentialed medical doctors from around the world. They travel internationally educating broad audiences by offering seminars and lectures based on their goal and purpose. The organization is also composed of 2,000 volunteers who are enrolled and sent out annually throughout the world. The organizations main goal is to aid the several million refugees that reside in numerous developing countries. These refugees flee from their countries due to natural disasters, extreme poverty and persecution that infects their home countries. DWB helps these individuals by setting up camps and shelters where they can seek refuge. The camps that DWB setup provide everything needed for survival. They provide clean water and healthy food for all the refugees. Since water and food is limited at the camps, refugees are only provided with minimal supplies for survival. There is a medical station, where they provide all the necessary vaccines and treatments for most illnesses and diseases. The refugees are given identification cards, which they need to show in order to get food and water. The camps are well organized and all the members work together to provide an adequate living environmentThese are many dangerous diseases that infect third world countries and Refugee camps. Two of these are cholera and malaria. Cholera is a very dangerous disease that affects a lot of the refugees. Cholera is very contagious and about 50% of people infected with the bacteria die. In underdeveloped countries like Africa, diseases are everywhere. Most cholera deaths occur due to poor sanitation. In one incident, in Rwanda, there was an estimated 1000 deaths per day caused by cholera. If caught in time it can be cured. Malaria is another disease that is affecting many refugees. It is acquired through the bite of an infected mosquito. Malaria is very dangerous because it can adapt to anti-malarial drugs, making it hard to cure. There is no cure for malaria because of its resistance to drugs, but there are drugs to control the symptoms. There are many problems DWB have to face while working in the fields. If there is not enough water new wells have to be found and the construction of more water pumps are needed. When it rains they have to drain all the water in trenches because all campsites have no form of a sewage system and drainage piping and mosquitoes live in dirty water. The DWB also have to train the refugees as to how to keep good hygiene so there will be a less chance of epidemic of disease. Doctors Without Borders has provided medical relief and shelter to millions of refugees and will continue to do so. Hopefully with the help of other organizations, DWB can grow even larger to help the third world countries that are still in poverty and the many individuals with no shelter and food.

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Introduction Bahrain, just like any other financial center, provides an environment where domestic and international trade is conducted on large scale. The Bankers’ Society of Bahrain (BSB) (n.d.) states that Bahrain has been known to be a strategic trading point between the East and the West.Advertising We will write a custom essay sample on NJ – International Finance Management Mid-Term Assignment specifically for you for only $16.05 $11/page Learn More Additionally, Bahrain trading history dates back to the Dilmun Civilization (BSB, n.d.). This is more than 4,000 years ago. Moreover, Bahrain is one of the most recognized financial centers in the Middle East. Bahrain is ranked 38th by the World Bank on the ease of doing business (World Bank, 2012). As a financial center, some of its major strengths include use of English, sound economic and financial policies and strategic location (United States Department of Commerce (USDC), 2012). On t he other hand, some of Bahrain major weaknesses include confusing labour laws, bureaucracy and some incidents of corruption within the government (USDC, 2012). This paper provides an insight into Bahrain as developing financial centre. Meaning of a Financial Center According to the businessdictionary.com (n.d.), a financial center is a city or a place within a city that has a lot of financial institutions. In addition, a financial center can be defined as a place with a world class commercial and communication infrastructure (businessdictionary.com, n.d.). Furthermore, a financial center can be a place where domestic and international trade is conducted on large scale (businessdictionary.com, n.d.). Financial centers also tend to have favourable time zones , are situated on traditional trade routes and have the highest concentration of a region’s or a country’s wealth (Security Industries Association (SIA), n.d.).The need to cater for an increasing global market and th e availability of mobile pool of capital are some of the reason as to why financial centers are in existence (SIA, n.d.). However, financial centers face the same level of competition as corporations and investors they attract. For that reason, investors tend to run their businesses in areas where costs are low, procedures are streamlined and the law protects investments (SIA, n.d.). Therefore, for a financial center to be successful, it must fulfill above requirements. World-class financial centers provide an investor with necessary business environments (SIA, n.d.). SIA (n.d.) also adds that these environments provide conditions under which financial skills and innovation thrive.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Subsequently, customer needs are efficiently catered for through market driven forces. Studies conducted on the various financial centers also show that these cente rs share some key characteristics. However, five characteristics stand out from the rest (SIA, n.d.). Firstly, a world-class financial center must have a stable and open economic and political system. Therefore, most financial centers are from countries that embrace democracy, have an open and fair financial market, encourage free flow of capital and have a convertible currency. Secondly, a financial center’s legal, regulatory and tax regime must be fair, transparent, efficient and reasonable. Thirdly, its labour force must be skilled and flexible. Fourthly, the language used in a financial center must be familiar to most people. Lastly, a financial center’s physical infrastructure must be of high quality. Reasons and Objectives for the Establishment of Bahrain Financial Center Bahrain is one of the leading financial centers in the Middle East. To start with, this financial center has efficient regulatory policies. Bahrain, therefore, is a popular place for foreign inv estment. Bahrain sought to become a financial center in order to reduce its reliance on oil (USDC, 2012). Additionally, due to its small size, Bahrain has focused on becoming an area where exceptional services are offered. For that reason, Bahrain is a hub for quality services. Bahrain was also transformed into a financial center in order to offer investors a cost-effective business environment. Therefore, Bahrain became a financial center in order to increase the ease of doing business. For that reason, the government of Bahrain strives to boost foreign direct investment (USDC, 2012). Bahrain was also the first country to recognize the need to diversify the economy in the gulf region (BSB, n.d.). This financial center’s greatest asset is its ability to maintain high levels of financial and economic management in challenging times. This is one of the greatest assets of Bahrain. For that reason, Bahrain deserves respect and recognition. Other regional financial centers have co ntinuously provided stiff competition for investors. Nonetheless, Bahrain is one of the financial centers to beat in this region. According to Bahrain Economic Development Board (BEDB) (n.d.), in the Middle East region, Bahrain is believed to be among the best regulated financial centers. Additionally, for more than forty years, Bahrain has been the region’s financial capital (BEDB, n.d.). Currently, 27.6% of Bahrain’s gross domestic product is made up of financial services (BEDB, n.d.). Moreover, most Bahraini nationals are experts in financial matters. For that reason, 67% of the 14,000 people employed in the financial industry are Bahraini citizens (BEDB, n.d.). The financial sector is also supervised by a pool of professionals from the Central Bank of Bahrain. In terms of regulation, originality, license management, non-discriminatory treatment and efficiency in operations, the Central Bank of Bahrain is the most successful in the Arab world (BEDB, n.d.).Advertisin g We will write a custom essay sample on NJ – International Finance Management Mid-Term Assignment specifically for you for only $16.05 $11/page Learn More This financial center is, hence, in safe hands. In addition, the award given to Bahrain by the Global investor Magazine came when the global economy was weakening (BEDB, n.d.). Therefore, Bahrain showed that it is ready for its new role as a world or regional financial centre. An ambitious financial center must withstand major financial crisis and shocks. This is exactly what Bahrain did during this period when the world was on the verge of a recession. Pros and Cons of Bahrain in Becoming a World or Regional Financial Centre A number of factors favor the establishment of Bahrain as a world or regional financial center. The business culture in Bahrain is about a century old (USDC, 2012). This culture prepares the ground for businesses and visitors. The government of Bahrain has also liberalize d Bahrain’s economy (USDC, 2012). This means that no industry is under government control. Ernst and Young (2012) state that the government of Bahrain is the majority owner of industries connected with infrastructure. Examples of these industries include oil, gas and aluminum. However, most industries are being privatized. Therefore, all industries are now open to foreign investors (Ernst and Young, 2012). For instance, in 2006, government of Bahrain privatized electricity production and transferred control of parastatals to a quasi-independent holding company (USDC, 2012). This reaffirmed Bahrain’s commitment in running profitable businesses. Moreover, foreign companies receive the same incentives as companies from Bahrain (Ernst and Young, 2012). Additionally, Bahrain’s commercial and legal laws are consistent with international standards. Commercial laws are also reviewed from time to time to accommodate any changes made internationally (Ernst and Young, 2012 ). For that reason, Bahrain should be an emerging market of choice for many businesses regardless of their place of origin. Ernst and Young (2012) also add that companies operating in Bahrain are required to present their financial reports using internationally accepted Standards. In addition, Bahrain’s modern laws provide favourable environments for doing business. Some of the best laws include labour and commercial laws (USDC, 2012). For instance, expatriates can change jobs more easily in Bahrain than in most countries in the Gulf region. This brings about flexibility in the labour market. Workers also have the right to join unions to fight for better terms. In addition, there are laws that protect foreign workers from abuse (USDC, 2012). According to the USDC (2012), Bahrain’s gross domestic product (GDP) has been on the rise. Recent reports indicate that Bahrain’s has enjoyed an economic growth of between four to five percent yearly. In 2010, Bahrainâ€℠¢s GDP stood at $21.3 billion (USDC, 2012).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Moreover, Bahrain has been able to maintain price inflation at low levels (USDC, 2012). For that reason, this financial center’s currency has remained stable. This is an added advantage to Bahrain as a financial center. English is also spoken widely in Bahrain. This makes easier for most people to express themselves. However, a few factors discourage investors from investing in Bahrain. For instance, there are no clear differences between the government and the private sector. As a result, there has been conflict of interest (USDC, 2012). The USDC (2012) also adds that the tendering process has not been transparent enough in some cases. In other cases, the government has been found to favour certain business men (USDC, 2012). This act disadvantages other competitors who are not highly connected with government officials. In addition, foreign investors who do not have local partners are discriminated upon. There are also few incidents of bureaucracy and poor coordination among ministries (USDC, 2012). Moreover, the government of Bahrain forces a company to employ a certain number of Bahrain citizens (USDC, 2012). Failure to do leads to a fine. Furthermore, the government of Bahrain intentionally makes it difficult for foreign firms to secure work permits and visas for foreign employees (USDC, 2012). This forces these companies to employ Bahraini citizens. As a result, the firms produce goods and service of low quality. In addition, these firms lack the required experts in various fields. In some cases, companies are forced to relocate from Bahrain. Finally, a few months ago Bahrain was on the international media for the wrong reasons. Bahraini citizen were protesting due to political and economic injustices. Such scenes kept investors away from Bahrain. However, Bahrain has been able to overcome these unrests (Albawaba, 2011) Degree of Success and Future Prospects Bahrain is recognized by its prowess in financial management. This makes the central bank o f Bahrain one of the most respected financial institutions in the Middle East (Albawaba, 2011). Apart from being the first country to indentify the need to diversify the economy, Bahrain was the first country to discover oil in the Gulf region in the modern era (BSB, n.d.). Bahrain’s transportation and communication are also in standards that attract and foster investments (USDC, 2012). Likewise, other types of infrastructure are of standards that encourage business development. Therefore, any form of investment will survive in Bahrain. Compared to eighty three economies, Bahrain is ranked 38th by the World Bank on the ease of doing business (World Bank, 2012). This makes it the 4th best economy in the Middle East. The World Bank report also places Bahrain on 82nd and 126th position on ease of starting a business and getting credit respectively. Additionally, this financial center is ranked 7th in dealing with construction permits, 18th in paying taxes , 25th in resolving ins olvency, 30th in registering property and 49th in trading across borders. Furthermore, Bahrain is ranked 79th in protecting investors, 49th in accessing electricity and 115th in enforcing contracts. This shows that Bahrain fairs well as compared to other countries where doing business is not a complicated matter. Bahrain has experience a steady increase in the number of financial institutions. Despite fluctuations in oil prices, these institutions have continued to post profits and positive growth (BSB, n.d.). In March 2006, the International Monetary Fund Financial Sector Assessment Programme (FSAP) conducted a review of the financial sector in Bahrain (BSB, n.d.). The results of this review indicated that Bahrain’s financial regulations were modern and effective. In the same year, Fitch Ratings changed Bahrain’s credit outlook from stable to positive (BSB, n.d.). This rating meant that the world recognized Bahrain’s financial and economic strength. In 2010, Th e Global investor Magazine named Bahrain as the best financial center (BEDB, 2010). The Global investor Magazine is a publication associated with the Euromoney (BEDB, 2010). For that reason, this award cannot be disputed. The award was given to Bahrain because of providing excellent financial services for a long time. Additionally, the award recognized the good work done by the Central Bank of Bahrain. This reward, hence, portrayed Bahrain’s leadership in the financial sector. Bahrain has also been able to establish a transparent business environment (Albawaba, 2011). Its laws are non-discriminatory and the tendering process is not questionable in most cases. Moreover, Bahrain overcame recent unrest brought about by bad economic policies (Albawaba, 2011). This showed that Bahrain has the capability to offer instant solutions to any situation that threatens to disrupt its economic progress. Bahrain faces stiff competition from other financial centers such as Dubai and Qatar. T herefore, to increase its competitiveness, Bahrain targets to improve six economic sectors† (USDC, 2012).These sectors include â€Å"tourism, health care, information and communication technology, education and training, business service and financial services† (USDC, 2012). Moreover, one of the growing sectors in Bahrain is Islamic banking (Albawaba, 2011). Although Islamic banking has been associated with the Middle East for a long time, Western countries are adopting it. This is something that Bahrain can present to foreign investors who want to diversify. Conclusion Throughout history Bahrain has been known to be a strategic trading point between the East and the West (BSD, n.d.). Therefore, Bahrain is one of the most renowned financial centers in the Middle East. Bahrain future as an economic center looks bright. Bahrain’s economic and financial policies have laid a solid foundation for future investments. Additionally, to increase its competitiveness, Bahra in has prioritized six sectors. These are the sectors that Bahrain wants to improve in order to consolidate its position as a world and regional financial center (USDC, 2012). References Albawaba. (2011). Bahrain still a leading financial centre: capinnova. Retrieved from http://www.albawaba.com/bahrain-still-leading-financial-centre-%E2%80%93-capinnova-380888 Bahrain Economic Development Board. (n.d.). Bahrain- the center of financial services in the Gulf and Middle East. Retrieved from http://www.bahrainedb.com/bahrain-financial-services.aspx Bahrain Economic Development Board. (2010).Bahrain named financial center of the year. Retrieved from http://www.bahrainedb.com/press-bahrain-named-financial-center-of-the-year.aspx Bankers’ Society of Bahrain. (n.d.). Bahrain an international banking and financial centre. Retrieved from www.banksbahrain.org/media/pdf/BSBBrochure-reduced.pdf Businessdictionary.com. (n.d). Financial center. Retrieved from http://www.businessdictionary.c om/definition/financial-center.html Ernst Young. (2012). Doing business Bahrain 2011. Retrieved from http://emergingmarkets.ey.com/doing-business-in-bahrain-2011/ Security Industries Association. (n.d.).The key building blocks of world class financial centers. Retrieved from www.ita.doc.gov/td/finance/†¦/World_Class_Financial_Center.pdf http://dspace.mit.edu/bitstream/handle/1721.1/63624/formationoffinan00kind.pdf?sequence=1 United States Department of Commerce. (2012). Doing business Bahrain: 2011 country commercial guide for U.S. companies. Retrieved from http://photos.state.gov/libraries/embassy/164325/2011pd/2011%20Bahrain%20Country%20Commercial%20Guide.pdf World Bank. (2012). Economy profile: Bahrain. Doing business 2012. http://www.doingbusiness.org/~/media/fpdkm/doing%20business/documents/profiles/country/bhr.pdf This essay on NJ – International Finance Management Mid-Term Assignment was written and submitted by user Kira D. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Women of Power in Ancient Egypt essays

Women of Power in Ancient Egypt essays Ancient Egypt was a mixture of military strength, religious complexity, and divine rule. Out of this blend of deified rulers and economic prosperity come two of the most influential women in history. One was to become the pharaoh in a time where women were merely domestic counterparts to active kings. The other was to become consort and partner to the unorthodox Akenhaten, during his monotheistic worship of the sun god Amen in the town of Armarna. Though both women were very prominent during their life time, each faded into obscurity after their deaths due to the Egyptians natural dislike of all things unconventional. Only to be rediscovered and romanticized by Egyptologists during the late 1800s to early 1900s. Nefertiti is commonly referred to as the beautiful one and is always seen as a partner to her husband. On the other hand, Hatchepsut, the more influential and powerful of the two, is known as the only Female Pharaoh to fully act out the part including having a queen consort a nd spends her reign trying to justify her political position. Nefertiti, born a member of Egypts elite, was married as a young girl to [Ahkenaten]... By the age of 30 she had borne at least 6 children and had transformed herself into a semi-divine being (Nefertiti 3). She was very demure in the early years of Ahkenatens reign, and was portrayed as the supporting wife and companion to Ahkenaten, as she calmly sat behind him in much of the tomb reliefs from this time period. She steadily increased in prestige to become the female compliment to Ahkenatens position as the Beautiful Child of the Disc (Nefertiti 76) and her position became closely connected as a symbol for fertility. Although she is never portrayed as pharaoh, she steadily continued to handle more important duties as the reign of Ahkenaten progressed. These included religious ceremonies (previousl...

Case Analysis Of The Health care Systems

The health care systems that have been established in Australia have exerted pressure of the highest degree on the growing population of the country. It must be noted here that Australia has a mixed system of public and private health care provisions that have been regulated at different levels of governmental proceedings. Furthermore, the understanding of the function and structure of the health care system along with the factors that result in the elevation of the related costs is the primary requirement for the establishment of a proper financial management structure (Kaur 2015). The issue that has been presented in this question is that a case study where a nurse manager has been appointed for the purpose of managing a 32 bed general surgical ward that is placed in a metropolitan hospital in a major city. The particular issue in regards to the restructuring of the hospital networks in the local Area Health Service is that the general surgical ward has been asked to be combined with the 12 bed surgical ward that has been specially constructed for the purpose of short stay. The steps that are required for the development of a nursing business service plan can be described in a detailed method. The initial stage involves planning of the business case for the employment of the organizational fund. Here, it can be understood that the establishment of the 12 bed short stay surgical ward will require sufficient funds. Moreover, the planning should be carried out in such a way that the general surgical ward is placed adjacent to the short stay ward without hampering the functioning of both the wards are not hampered by each other (Song, Qiu and Liu 2016). The aims and objectives of the expansion should also be clarified in order to determine the particular service that is being offered to the patients (Song, Qiu and Liu 2016). The required support from the employees and other stakeholders of business should also be derived for the implementation of the expansion of the health care facilities (Dafny, Ho and Lee 2017). Next, the cost that is required for the setting up of the expanded part of the business should be properly calculated and figured (Dafny, Ho and Lee 2017). Lastly, enough initiative should be taken in order to facilitate the successful establishment of the short stay ward along with the general surgical ward (Singh caes et al., 2015). The staff who will be required for attending the patients in the short stay ward have to be trained accordingly (Singh caes et al., 2015). Moreover, the sections in regards to the general surgical ward and the short stay ward should be clearly segregated and the purpose should be explained of the expanded facility should be explained to the nurses and other staff of the hospital (Singh caes et al., 2015) It must be noted here that in case of a health care facility, the data does not flow into the entity in a standardized way. A great deal of challenge has to be faced by the health care systems in terms of collection of data from patients, enrollees and other members. The health care systems deal in a diverse range of documents like the data collection systems, medical records, billing records, health plans and other related documents. The data that is essentially required to develop a service profile are the data in regards to the race and ethnicity of the patients, individual persona health records and electronic data health records and other systems of data. It must be noted here that the till that point is reached when the collected data has been better integrated by the entities, there will be a certain degree of redundancy that will be in the collection of data in regards to the race, ethnicity and other related patient information. Moreover, the methods that would be adopted for the collection of information should be integrated into the data flows that are operating in the current times. The issue in regards to the efficiency and privacy of the patients should also be considered (Parikh 2017). Therefore, the documents that should are needed to be collected for the purpose of analyzing and developing a service profile are the supply market sources document. This document will help in identifying the suggested external sources that will essentially reflect the supply market data that will result in the further development of the effective business strategies. A developing strategic commissioning plans document is also required. Therefore, the documents that will be required are Guidance on Developing Strategic Commissioning Plans, Options Appraisal, External Data Sources Template, Registers, Medication journals, Clinic guidelines, Documents for recording the details of the diseased. The service demand for the new service level would be that the patients who would need treatment for a day or two, could be accommodated in the short stay ward and treated accordingly. However, it must be noted here that the ward has the capacity to accommodate 12 individuals at once. Therefore, the facilities should be arranged in that particular way. The work methodology that should be utilized for the determination of the supply of nurses required to staff the new service level are that the nurses already attending the general surgical ward should be properly trained in order to carry out the attending of the individuals who will be admitted to the short stay ward. It can be easily deduced from the names that the patients who will be attending the general surgical ward would be accommodating those patients that need intense care, as they will be undergoing general and complex surgeries. On the other hand, the short stay surgical ward will be accommodating those patients who can be cured in a lesser degree of time and do not hold such complexities in terms of injuries or other diseases. This means that the nurses who are attending the general surgical ward patients will be readily able to treat the patients of the short surgical ward. The only providence that should be available is a proper training and guideline framework for th e purpose of distinctly making the process clear to the nurses and other staff of the hospital in regards to the nature patients in both the surgical wards and the level of service they need. There is no certain concern in regards to the skill-mix or staff education issues for the purpose of attending to the patients of the short stay surgical ward. This is because the patients of the general surgical ward need due care and attention as they are suffering from injuries or other disease that are complex in nature and need surgery. Therefore, the degree of skill that is needed to attend to the patients of this particular ward will be apparently higher than the skill that is required to attend the patients of the short stay surgical ward. Thus, it can be deduced that the nurses and other staff will not be facing any kind of issues in regards to the staff education. However, it must be noted here that the particular behavior will be different in case of the patients that are for general and complex surgeries and the patients who are to get well soon in a shorter period of time. It is the primary duty of the nurse manager to make this clear among the nurses and other staff so that they can understand the degree of difference in behavior and service between the patients of the general surgical ward and the short stay surgical ward (Parikh 2017). A cost centre budget might be beneficial for the nurse manger to control the expenditures of the wards (Dafny, Ho and Lee 2017). The advantages of the cost centre budget are that the implementation of a cost centre budget will help in the comparison of the performance of the service unit in terms of the short stay surgical ward and the general surgical ward. A cost centre budget will help the nurse manager in identifying the underperforming parts of the hospital or the parts that require excessive un-estimated costs. A cost centre budget will help in the identification of the centers that generate the largest amount of expenditure. The identification of the cost centers will also facilitate the fact that the management of the hospital will be able to target these centers as the primary areas where the cost management strategies could be applied. A cost center budget also helps in improving the reaction speed. This is because the cost center budget will help in the allocation of the m ost skilled and responsible staff that will try to reduce the cost in facilitating such a center, which will in turn improve the reaction, speed. A cost center budget will also enable the staff and the nurses to make decisions on their part, which will increase the degree of motivation and thus enhance productivity. A flexible budget refers to the particular budget that includes the calculation of the different levels of expenditure in regards to the variable costs that depends on the changes in the actual amount of revenue that is incurred. A flexible budget is prepared at the end of each accounting period and this particular budget involves preparation in accordance to the inputs. The flexible budget is next compared to the actual revenue incurred for the purpose of controlling the expenditures. Some of the benefits of the flexible budgets are that a flexible budget is useful for those businesses whose costs are closely related to the level of business activity. This particular method of budgeting also is useful in measuring the effectiveness of the services provided by the employees or the staff. Moreover, a flexible budget can be very easily updated (Barr and McClellan 2018). A particular disadvantage of the flexible budget is that the implementation of such a budget is difficult to administer and formulate. A flexible budget cannot be aligned with any kind of accounting software making the comparison of the financial statements with the budgeted statements impossible. Moreover, a flexible budget cannot facilitate the comparison between the actual revenue and the budgeted revenue due to the fact that the both the numbers are similar (Barr and McClellan 2018). Zero based budgeting refers to the particular method of budgeting in which the expenses that are estimated to be incurred by a particular business entity for a new accounting period is assumed to be zero. This means that the expenses for the new accounting period are calculated on the basis of the actual expenses that are incurred rather than on incremental basis. The advantages of zero based budgeting are that this particular method of budgeting will result in focused operations, lower degree of costs, a controlled and disciplined execution of the business strategies in regards to effective cost management. The disadvantages of zero based budgeting can be listed down to the fact that this particular method of budgeting is resource intensive in nature. Moreover, a zero based budget is exposed to a high degree of manipulation by the managers of the organizations as it involves short term planning(Barr and McClellan 2018). An output based budgeting refers to the particular method of budgeting that is dependent on the performance by the employees or the staff of the organization. It is that method of budgeting that ties the measurement of the individual or the departmental performance with the particular process of budgeting. The advantage of output based budgeting is that the amount that is allocated to a particular department has a direct link with the departmental performance. This inspires the department personnel to increase their all round productivity in order to obtain more monetary benefits that may be allocated via the output based budgeting method. A disadvantage of the output based budgeting is that this particular kind of budget is prepared from the baseline of the organization and construct a request for the budget from each department. However, the ultimate grant of the budgeted amount depends on the high-ranking officials of the management who may manipulate the figures or take decisions that are exposed to political influences (Miller 2018). Among the above mentioned three methods of budgeting, the particular method that would be most suitable for the nurse manager to implement in the hospital is the flexible budget. This is because the flexible budget essentially involves the preparation of the budget on the basis of the level of activities that are performed in the field of work. Therefore, this is the suitable method of budgeting. The three main areas of expenditure that may be considered while developing a cost centre budget are the expenditure related to the different surgeries that might have to be conducted for the patients in the general surgical ward; the expenditures related to the general pharmacy that will be installed within the hospital for the welfare of the patients. Moreover, the third major area that should be considered is that the expenditure in relation to the emergency ward should also be considered as the most critical medical cases are conducted here. Moreover, this is the ward where the most valuable medical equipments and applications are placed, the maintenance of which requires sufficient cost. An example of the cost center budget has been shown below that may be applied in case of the private hospital. The salaries and wage budget that has been prepared above consist of the mandatory remuneration components that should be received by a personnel in the health care sector. The assumptions have been made on the basis of the different salary components that are given by reputed health care institutions in Australia. Moreover, the overtime allowance that has been included in this particular table indicates the extra monetary benefit that will be received by the staff. This is on account of the fact that the nurses might have to do overtime duty on the account of the fact that the work space now has been expanded into an additional unit of short stay surgical ward (Dafny, Ho and Lee 2017). The conclusion that can be arrived at from the discussions in the preceding paragraphs is that setting up or expanding a health care facility in Australia is a rigorous process. Beginning from planning the facility to the preparation of the salaries and wage budget requires skilled analysis and evaluation. However, the service provided by these health care facilities and the hospitals is commendable and should be praised for the welfare carried out by these entities. Barr, M.J. and McClellan, G.S., 2018. Budgets and financial management in higher education. John Wiley & Sons. Dafny, L., Ho, K. and Lee, R.S., 2017. The price effects of cross-market mergers: Theory and evidence from the hospital industry. Kalyani, P., 2015. A study on implementation of community health insurance scheme in the cardiology department of a tertiary care government hospital. Journal Of Evolution Of Medical And Dental Sciences-Jemds, 4(18), pp.3124-3133. Kaur, A., 2015. Computerized Hospital Management Information System-Public And Private Sector. Global Journal of Computer Science Research & Technology, pp.1123-1134. Kumar, V., Patil, R., Patil, M., Mudbi, S., Kaveri, C. and Patil, S., 2014. Pattern of antibiotics usage in bidar institute of medical sciences,(BRIMS) teaching hospital, Bidar. Journal of Evolution of Medical and Dental Sciences, 3(29), pp.8122-8126. Miller, G., 2018. Performance based budgeting. Routledge. Ó hAlmhain, O., 2015. Medication safety officer in an Irish hospital: a financial cost-benefit appraisal (Doctoral dissertation, The Institute of Public Administration). Poola, D., Garg, S.K., Buyya, R., Yang, Y. and Ramamohanarao, K., 2014, May. Robust scheduling of scientific workflows with deadline and budget constraints in clouds. In Advanced Information Networking and Applications (AINA), 2014 IEEE 28th International Conference on (pp. 858-865). IEEE. Shah, J.N., 2017. Taking Specialist Surgical Services to the Rural District Hospitals at One Forth Cost: A Sustainable ‘Return on Investment’Public Health Initiative of Patan Hospital, Patan Academy of Health Sciences, Nepal. Kathmandu University Medical Journal, 13(2), pp.186-192. Singh, S., Ahalawat, I., Singh, B., Singh, S. and Chauhan, A., 2015. Study of Cost Analysis of in House Dieteary Services in a Tertiary Care Academic Hospital. Song, J., Qiu, Y. and Liu, Z., 2016. Integrating optimal simulation budget allocation and genetic algorithm to find the approximate Pareto patient flow distribution. IEEE Transactions on Automation Science and Engineering, 13(1), pp.149-159. Sudheer, G., Prabhu, G.R. and Sridhar, M.S., 2015. A study of prescription writing practices of doctors in geriatric age group patients in a teaching hospital. Jour of Evolution of Medical and Dental Sciences, 4(3), pp.322-8.

Global Marketing Final Project on Pantaloons LTD - India's largest Term Paper

Global Marketing Final Project on Pantaloons LTD - India's largest fashion retailer - Term Paper Example Pantaloon also sells products of more than 50 private labels such as of big bazaar or food bazaar. Pantaloon has a vertically integrated management structure and the manufacturing expertise is more focused on supply the latest fashion to the market in the shortest possible time. The manifesto of the company is to explore the untapped market and form new rules to create fresh opportunities. It is always kept in mind that the customers get what they want to have and also assist them how and where to get their desired product. Pantaloons has always spotted the future trends and accordingly offered products or services to the customers. The company's vision and mission is to serve its customers and stakeholders by leading them towards a wonderful future (â€Å"Overview†). 2. Screening and Evaluation of the Potential International Market Pantaloon is one of the key players in the Indian retail market. The company has a well establish retail chain and a well planned distribution cha nnel around the country. This is moment when the company can think about global expansion. This study would analyze the retail environment conditions of three African countries, namely Ghana, Kenya and Angola for preparing an expansion plan for Pantaloons, in Africa. The initial focus would be on the launching the food section of Pantaloon called Food Bazaar. For this it is very important to do proper screening and evaluate the potentials of the Food Bazaar in retail market of these countries to identify the most suitable market. The screening and evaluation of the markets can be done by analyzing and monitor the international market. a. International Market Intelligence Overview The retail sector in Kenya has shown... Pantaloon is one of the key players in the Indian retail market. The company has a well establish retail chain and a well planned distribution channel around the country. This is moment when the company can think about global expansion. This study would analyze the retail environment conditions of three African countries, namely Ghana, Kenya and Angola for preparing an expansion plan for Pantaloons, in Africa. The initial focus would be on the launching the food section of Pantaloon called Food Bazaar. For this it is very important to do proper screening and evaluate the potentials of the Food Bazaar in retail market of these countries to identify the most suitable market. The screening and evaluation of the markets can be done by analyzing and monitor the international market. The retail sector in Kenya has shown positive progress since the last few years. In 2011, the growth in the wholesale and the retail sector has being about 7.3 percent, which was more than the manufacturing, a griculture, transportation or communication sector. The revenue generated by the retail sector was about 18.5 percent. Though the retail sector is developing in Kenya, yet they require some set of retail development guidelines or policies to sustain this growth. The retail market in Kenya is becoming overcrowded with new retail chains.

LAW Essay Example | Topics and Well Written Essays - 1500 words

LAW - Essay Example Since the incident took place at a public event and there are a number of eye witnesses out of whom there are two adults the statements can be corroborated to see if they match in case of any doubts regarding the children’s eye witness accounts of the occurring(section 4(7)(g) Code for Crown Prosecutors). Furthermore post emergency doctor’s reports can be used as supporting evidence to ascertain section 4(7)(k) Code for Crown Prosecutors. The evidence has been gathered in the normal course of investigation therefore it is safe to presume its admissibility will not be an issue also (section 4(7)(a) Code for Crown Prosecutors). Though section 4(11) of the Code may seem to be satisfied where sufficiency of evidence is concerned but it remains to be considered whether public interest will be served in prosecuting Mr. Eric assessing the balance scale between factors tending in favor (section 4(16) Code for Crown Prosecutors) and against(section 4(17) Code for Crown Prosecuto rs) a prosecution. ... Though an out of court disposal may be considered if section 4(16)(b) of the Code can be satisfied and that it can be ascertained that Eric’s offence was likely a one off incident induced by his intoxicated state (section 4(16)(e)) and that Fred is accepting or unaffected by the decision not to prosecute. As Fred has suffered serious jaw injury which is likely to require a minor or intrusive surgery causing him physical and mental distress (section 4(16)(g) Code for Crown Prosecutors) is of importance whether Eric’s monetary compensation if any satisfies Fred’s sense of due justice (section 4(16)(i) Code for Crown Prosecutors). As only in exceptional circumstances an out of court disposal by way of a simple caution is offered for indictable offences (section 7(5) Code for Crown Prosecutors) and a conditional caution may only be considered if after accounting for the victim’s and community’s interest it would serve no purpose to prosecute (section 7( 2) Code for Crown Prosecutors). Based on the facts provided Eric’s state of intoxication at a children’s sporting event makes the presumption of an assessment in his favor extremely unlikely, thus balancing the arguments and counter-arguments the decision to prosecute is the plausible outcome (section 7(8) Code for Crown Prosecutors). 2. The issue in respect of this question requires an analysis on the arrest and it’s lawfulness in respect of PACE 1984. Since Martin was merely a store detective section 24A Police and Criminal Evidence Act 1984 , which is relevant to the facts at hand, will be discussed. Section 24A Police and Criminal Evidence Act 1984 provides for

Diversity Issues Essay Example for Free

Diversity Issues Essay It does not create a mouth-opening effect on us when we get to know any issue related to sexual harassment that is happening somewhere in the country, whether it is any organization, community, educational institution, or village. It is because there is no such country in the world that has totally eliminated this issue, even if they have, then other diversity issues such as, discrimination, hatred, and glass-ceiling occur. The paper would discuss an article about sexual harassment, analyze the legal concerns, and highlight the thoughts regarding the issue. Introduction Sexual harassment is a term that is used to define any act of harassment where a person or employee â€Å"makes continued, unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature, to another employee, against his or her wishes† (Heathfield, 2010). Examples of Sexual Harassment There is not any specific way of harassing the opposite gender in the workplace; in fact, there are variety of ways that can be used depending on the circumstances. People pass on jokes, non-verbal gestures, or other offensive comments on the physique, dresses, or way of walking or talking of the other party. Touching and making some bodily connection also comes under sexual harassment, where patting someone’s back, holding him or her from waste, and scratching is done. Moreover, requests to the other party are made to have date even that party has refused before. And finally, sending emails or texts that contain some lewd text or pictures and playing sexy music are also part of sexual harassment. Legal Concerns Sexual harassment has increased to so much extent that now it is considered to be a common thing, which would not have any negative impact towards the organization or its performance. But in reality, it does have several legal concerns over the confidence and self-esteem of the harassed one, performance of the organization, violation of the ethical and moral principles, and also the corporate culture. Starting from the moral and ethical issues, one does not have any right to sexually harass anyone else in the workplace even if the other party does not entertain the offer or gets reluctant to it. It violates the ethical principles because one does not feel the sense of freedom where he or she is working, and since it is the workplace so protest or condemnation cannot be done openly. Second of all, it diverts the mind of both the harasser and harassee from their work since they continue to disturb and get disturbed from each other’s reactions. Therefore, the time is wasted and focus is not made on the everyday tasks, hence resulting in the decline in productivity of both parties. As far as the self-esteem and confidence of harassee is concerned, it gets hurt seriously because the harassee cannot openly raise voice in front of others to either protect him/her or complaint about the harasser. Moreover, there is a great chance of other people perceiving the harassing situation as the consensual relationship or flirting of both the parties, which might degrade one’s image. Not only this, once the rumors about sexual harassment being happening in an organization spread, it exacerbates company’s image and so many of the women or minorities would hesitate to join it in the future. Thoughts and Beliefs This growing issue in the workplaces have tarnished the image of many organizations and as well as the countries where minorities are harassed either sexually or for some other purpose. Although this is a silent issue that has not been considered to deal at the upper level either by the companies or governments; nevertheless, employees are the only one who can help themselves and get out if this nuisance. Sexual harassment can be prevented by the organizations if they develop and introduce certain stiff rules about the issue, which ensure that whoever is found to be harassing others would either be fired or suspended. Of course, the employer would not want this issue to prevail in the company so the harassee must complain secretly to the immediate boss or manager who could take the issue seriously in dealing with it. Also, harassee must have proper proofs and records of harassment been done by the harasser, so that he or she could take legal actions against the harasser and let him or her face the music (Heathfield, 2010). This would not be it; in fact the role of government and law-making bodies is very decisive here that can introduce certain laws especially for the workplaces where sexual harassment usually takes place. Once the rules are implemented, the issue would certainly take a rain check and minimize. Conclusion Therefore, there are many diversity issues prevailing in the organizations, one of them is sexual harassment that involves the passing of certain remarks, words, jokes, or some physical contact with the other party. Its outcomes are quite gloomy where the performance level of employees goes down, image is tarnished and corporate and ethical principles are violated. The issue can be managed by taking action on-the-spot by the harassee and the employer, and also by implementing stiff rules and regulations. References Heathfield. S. M. (2010). Address an Employee Sexual Harassment Complaint. Retrieved on August 4, 2010. From http://humanresources. about. com/cs/workrelationships/ht/sexualharass. htm Heathfield. S. M. (2010). Sexual Harassment. Retrieved on August 4, 2010. From http://humanresources. about. com/od/glossarys/a/sexualharassdef. htm

Brave New World Essay -- Literary Analysis

Aldous Huxley’s passage narrating a fertility rite conveys his reverence and awe for both the ritual and the people of the Old World. Huxley’s passionate imagery is aided by inspired diction and precise narrative pacing to evoke the excitement and sanctity of the affair. Through his voice comes realization of the ritual as genuine and crucial to a culture; this is in stark contrast to the baseless practice of the Solidarity Service held in the New World. The imagery in the passage is focused upon the participation of the people in the fertility ritual – its effect portrays a ceremony of the utmost sacredness. In his opening, Huxley pictures, â€Å"hundreds of male voices crying out fiercely†¦then again the drums; and once more the men’s deep savage affirmation of their manhood.†The onset of the ritual presents the yelling of the people and the beat of drums – Huxley’s language enlivens the mood of the rite and of the people. As the ritual continues, Huxley introduces masked men, singing, and dancing to which he comments, â€Å"women had shrieked†¦as though they were being killed.† The excitement of the ritual rises to the point of deathly outbursts and the people are impassioned with fervor. What follows is a plethora of spiritual and animalistic symbolism: snakes are thrown amongst the people and covered in â€Å"corn meal†, performers appear from the â€Å"underworld,â₠¬  and dance and sing, decorated in masks of eagles and coyotes, and a man â€Å"nailed to a cross† and an old man with the â€Å"sign of the cross† make appearance. The goal of the ritual is fertility of the land, and so the people must connect with nature to ensure the welfare of their environment. They call upon animals and imitate their visage, and pay homage to pagan and Christian faith w... ...th the intensity of the ritual and his admiring impressions. Huxley makes his awed reaction to the ritual apparent in his use of imagery, diction, and pacing. The overwhelming excitement and the appreciation of mood inherit in his words illustrate the importance of fertility rights to the people of the Old World and their fanatical execution of the ritual – Huxley is in short moved by the act. Compared to the New World, whose ritual is largely an erotic hoax, The Old World’s tradition is remarkable and invigorating. The deadened machines of the New World are made even more apparent when contrasted with the vital souls of the people of the Old World in revitalizing their beloved land. More abstractly, Huxley reveres a society’s preservation of meaningful traditions and values, which inspire genuine passion in people and promote a greater social consciousness.

Dreamland by Sarah Dessen Essay

Dreamland written by Sarah Dessen is a book about a young woman named Caitlin. Caitlin was a normal girl in high school, living with her parents and her older sister Cass. Cass is the very opposite of Caitlin. Cass is outgoing, popular, a cheerleader, and was recently accepted into Yale. But on the morning of Caitlin’s sixteenth birthday, her and her parents wake up to find Cass’s letter telling that she ran away to New York to be with her boyfriend. Everybody’s about to change but Caitlin most of all. With everybody in a panic to find Cass, Caitlin just stays to herself knowing that Cass always knows what she is doing. After about 3 weeks everything calmed down. Caitlin tries to find something to keep her mind off of things. So her and her best friend Rina tried out for cheerleading and made the team. Her mom was more exited about it than she was. Her mom was at every practice and game cheering Caitlin on. Although Caitlin didn’t cheerleading at all, she was just happy her mom was happy. With her being a cheerleader now she hung out with the other cheerleaders and the football players. She was expected to be perfect and to date a football player. But that just wasn’t her. Then one night at a party she meets Rodgerson. She falls in love with him right away. With his mysterious side and dreamy green eyes he was perfect to her. She soon found out that he sells drugs and smokes cigarettes. But she loves being around him and being with him. She started smoking too and doing drugs with him. Everything was going perfect; her parents really liked him. One night Rodgerson was showing Caitlin around his house when he was supposed to be meeting with his father. When his father stormed through the room Caitlin hid behind the door and watched Rodgerson’s dad yell at him and he suddenly hit him right across the face. Rodgerson fell to his feet while his dad kept yelling and finally left, slamming the door behind him. Caitlin, stunned, slowly walked over to Rodgeron on the floor and just hugged him trying to be there for him. After that night they never talked what happened. Caitlin never brought it up, only because she was afraid of what she may find out. They just acted like nothing had happened. Even when she noticed new bruises on his body knowing where they had come from. One day she was let out from school late and Rodgerson had been waiting for over 45 minutes for her. She new he would be upset because he hated to wait. She was nervous as she got into his car so she immediately tried to explain what had happened when he told her to shut up and hit her right across the cheek. She couldn’t move, not just because of the excruciating pain but because she was so surprised. She just sat back in the seat and they drove in silence. Before she got down to get in her house he apologized not looking her in the eye and she just nodded slowly. When she got inside she told her parents that she had slipped outside on the black ice. They believed her. After what happened they never talked about it again. She just ignored it and thought he wouldn’t do it again. Then he hit her again, and then again. He would hit her almost every time he would get upset. She didn’t know what to do so she just covered the bruises with bagging clothes and if someone saw she would just make an excuse. Her grades were failing, she quit cheerleading, and was doing more drugs. She was always in a daze, in a dreamland. It was the first day April, the annual party at Caitlin’s house. While everyone was busy making food and setting up, Caitlin decided to stay in bed all day since she didn’t have to meet Roderson until later. Then Rina came, they hadn’t talked in months. She woke Caitlin up with a bathing suit and suntan lotion in hand. She told Caitlin they where going to the lake. She didn’t give her any option. Especially when everyone was telling her to go too. Caitlin was so nervous that she would have Rodgerson waiting on her. She tried to tell Rina, but she didn’t listen. So she tried to call Rodgerson but he wouldn’t answer. When she finally made it home, she saw his car. She ran to his car and got inside and immediately told him what happened. He slapped her and punched her so hard the door opened and she fell out of the car onto the grass. She couldn’t get up the pain was too much. He started to yell at her to get up, but she couldn’t. She could here the party behind her, she was praying someone would just come out to find them. The neighbor across the street saw it all and called the police and her mother. She could feel her mother come up behind her crying and screaming. She could here commotion and sirens getting closer and closer. All she could remember was Rodgerson being handcuffed and taken away. Finally awaken from her dreamland, Caitlin is taken to a rehabilitation center for care. They did not press charges on Rodgerson. Rodgerson had to do community service and goes to jail frequently. After several months of her rehabilitation, she went home to her family and friends. She had no more bruises or pain. She was back to herself, she was happy. But what made her most happy was seeing her sister Cass comes out behind everyone and gives her a hug. Overall, I did really like this book. It taught me lessons and I hope it teaches other girls the lessons too. One example is how to always tell someone if your hurting or something is happening in your relationships. I did get a little bored while reading some parts because it was on going and over detailed. That is the only thing I did not enjoy about it. But this book was a very good one, and I would recommend it all girls. To first see how some people could hurt you when you least expected and to always have someone to talk to and not hide from it.

Ratio Analysis

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