Financial Analysis of Tcs and Tech Mahindra

ACCOUNTS PROJECT Submitted By: Kriti Singh Roll No: 236 Section-D, LBSIM, Delhi 1. ) Calculation of Ratios: (All figures used For calculation are in Rs crores) Liquidity Ratios: 1. Current Ratio Formula: Current Ratio=Current Assets /Current Liability Current Ratio of TCS : For 2012: 23275. 09/10465. 01 = 2. 224 For 2011: 17036. 41/7246. 03 = 2. 3511| | Current Ratio of Tech Mahindra: For 2012: 19809/17007 = 1. 16475 For 2011: 18412/15295 = 1. 20379 2. Quick Ratio Formula: Quick Ratio= Quick Current Assets/Current Liability Quick Ratio of TCS:For 2012: 23257. 32/10465. 01 = 2. 223 For 2011: 17013. 59/7246. 03 = 2. 347 Quick Ratio of Tech Mahindra: For 2012: 19807/17007 = 1. 16463 For 2011: 18406/15295 = 1. 20339 3. Cash ratio: Formula: | Cash Ratio of TCS: For 2012: 6003. 37/10465. 01 =0. 5736 For 2011: 4700. 85/7246. 03 =0. 648 Cash Ratio of Tech Mahindra: For 2012: 1389/17007 = 0. 081 For 2011: 1938/15295 = 0. 126 Leverage Ratios: 1. Debt-Assets Ratio: Formula: Debt to Assets = tot al debt / total assets Debt-Assets Ratio of TCS: For 2012: 116. 26/41394. 49 =0. 0028 For 2011: 69. 27/32681. 04 =0. 0021Debt-Assets Ratio of Tech Mahindra: For 2012: 11266/63454 = 0. 177 For 2011: 11827/60804 =0. 194 2. Debt Equity Ratio: Formula: Debt to Equity Ratio =  (Short Term Debt + Long Term Debt)/Tangible N. W. Debt to Equity Ratio of TCS:For 2012: 116. 26/29840. 13 =0. 003 For 2011: 69. 27/24651. 22 =0. 002 Debt to Equity Ratio of Tech Mahindra: For 2012: 11266/34369 = 0. 327 For 2011: 11827/33810 =0. 349 3. Interest coverage Ratio Formula: Interest Coverage Ratio =  (EBIT) / interest.Interest coverage Ratio of TCS: For 2012: 13945. 54/22. 23 =627. 32 For 2011: 11047. 1/26. 48 =417. 18 Interest coverage Ratio of Tech Mahindra: For 2012: 7494/1025 =7. 3112 For 2011: 9173/1113 =8. 2416 4. Total Debt Ratio: Formula: Total Debt Ratio = Total Debt / Capital Employed Total Debt Ratio of TCS: For 2012: 116. 26/30929. 48 =0. 00375 For 2011: 69. 27/25435. 01 =0. 0027 Tota l Debt Ratio of Tech Mahindra: For 2012: 11266/46447 = 0. 425 For 2011: 11827/45509 =0. 259 Activity Ratios: 1. Inventory turnover Ratio: Formula: Inventory Turnover Ratio = Cost of Goods Sold/Inventory Cost Inventory turnover Ratio of TCS:For 2012: 35398. 69/ 17. 77 =1992. 04 For 2011: 26907. 89/22. 82 =1179. 132 Inventory turnover Ratio of Tech Mahindra:For 2012: 46638/2 =23319 For 2011: 42861/6 =7143. 5 2. Receivable’s turnover Ratios: Formula: Receivable Turnover Ratio = Sales/ Accounts Receivable Receivable’s turnover Ratio of TCS:For 2012: 48893. 83/11520. 35 =4. 244 For 2011: 37324. 1/8194. 97 =4. 554 Receivable’s turnover Ratio of Tech Mahindra:For 2012: 52430/12431 =4. 217 For 2011: 49655/9643 =5. 149 3. Payable turnover Ratios: Formula: Payable Turnover Ratio = Cost/ Average Payables Payable turnover Ratio of TCS:For 2012: 35398. 69/ 3247. 87 =10. 89 For 2011: 26907. 89/2572. 33 =10. 46 Payable turnover Ratio of Tech Mahindra:For 2012: 46638/4684 =9. 9 56 For 2011: 42861/3034 =14. 126 4. Fixed assets turnover Ratios: Formula: Fixed assets turnover Ratios = Sales/ Fixed Assets Fixed assets turnover Ratios of TCS: For 2012: 48893. 83/6564. 97 =7. 4 For 2011: 37324. 51/5440. 98 =6. 85 Fixed assets turnover Ratios of Tech Mahindra: For 2012: 52430/8153 =6. 430 For 2011: 49655/6608 =7. 5143 5. Total assets turnover Ratios: Formula: Total assets turnover Ratios = Sales/ Total Assets Total assets turnover Ratios of TCS: For 2012: 48893. 83/11520. 35 =4. 244 For 2011: 37324. 51/8194. 97 =4. 554 Total assets turnover Ratios of Tech Mahindra: For 2012: 52430/63454 =0. 826 For 2011: 49655/60804 =0. 816 Profitability Ratios: 1. PBIT Ratio Formula: PBIT Ratio = EBIT/Sales PBIT Ratio of TCS: For 2012: 13945. 54/48893. 83 =0. 285 For 2011: 11047. 1/37324. 51 =0. 959 PBIT Ratio of Tech Mahindra: For 2012: 7494/52430 =0. 1429 For 2011: 9173/49655 =0. 1847 2. PBT Ratio: Formula: PBT Ratio = EBT/Sales PBT Ratio of TCS: For 2012: 13923. 31/48893. 83 =0. 284 For 2011: 11020. 62/37324. 51 =0. 2952 PBT Ratio of Tech Mahindra: For 2012: 5790/52430 =0. 1104 For 2011: 8060/49655 =0. 1623 3. PAT Ratio: Formula: PAT Ratio= EAT/Sales PAT Ratio of TCS: For 2012: 10413. 4/48893. 83 =0. 212 For 2011: 9068. 04/37324. 51 =0. 242 PAT Ratio of Tech Mahindra: For 2012: 4606/52430 =0. 0878 For 2011: 6967/49655 =0. 1403 4. ROA Ratio: Formula: ROA Ratio= EBIT/ Total Asset ROA Ratio of TCS: For 2012: 13945. 4/41394. 49 =0. 336 For 2011: 11047. 1/32681. 04 =0. 338 ROA Ratio of Tech Mahindra: For 2012: 7494/63454 =0. 118 For 2011: 9173/60804 =0. 15 5. ROE Ratio: Formula: ROE Ratio= EAT/Stockholder’s Equity ROE Ratio of TCS: For 2012: 10413. 4/29840. 13 =0. 348 For 2011: 9068. 04/24651. 22 =0. 367 ROE Ratio of Tech Mahindra: For 2012: 4606/34369 =0. 134 For 2011: 6967/33810 =0. 206 Analysis of Ratios: Liquidity Ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Current Ratio| 2. 224| 2. 3511| 1. 16475| 1. 20379| Quick Ratio| 2. 2223| 2. 347| 1. 16463| 1. 20339| Cash Ratio| 0. 5736| 0. 648| 0. 081| 0. 126|Ideal current ratio is 2:1. In case of TCS in both years current ratio is almost equal to it. It means company has just the adequate amount of current assets. In case of Tech Mahindra, Current ratio is less than it in both the years. But it is still greater than 1:1. So the company still has sufficient assets to pay its short term obligations. Quick assets means current assets – inventory – prepaid exp. So, it is more conservative measure. Ideal quick ratio is 1:1. It shows that TCS and Tech Mahindra have very less current investments in terms of inventories and prepaid expenses so the ratios are almost equal to the current ratios.Cash ratio is most conservative measure of three as it comprises only cash and marketable securities. TCS keeps more current assets in cash than Tech Mahindra. Leverage Ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Debt – Assets ratio| 0. 0028| 0. 00 21| 0. 177| 0. 194| Debt To Equity Ratio| 0. 003| 0. 002| 0. 327| 0. 349| Interest Coverage Ratio| 627. 32| 417. 18| 7. 3112| 8. 2416| Total Debt Ratio| 0. 00375| 0. 0027| 0. 2425| 0. 259| Analysis of a firm’s capital structure is essential to evaluate its long-term risk and return prospects. Debt – assets ratio implies portion of total debt in capital structure of a company.The more this ratio is the more risky company is because cost of debt is always greater than cost of equity. So, it is preferred to have more amount of equity than debts. For both TCS and Tech Mahindra, debt ratio is good enough though TCS has better debt ratio. Interest coverage ratio measures the protection available to creditors as the extent to which earnings available for interest cover interest expenses. In case of both companies in both years debt holders are secured as enough profit is available with firm but in case of TCS debt holders are very much secured.Payment of interest on debenture s is always preferred to payment of dividends on equity and preference shares. Activity ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Inventory Turnover Ratio| 1992. 04| 1179. 132| 23319| 7143. 5| Receivable’s Turnover Ratio| 4. 244| 4. 554| 4. 217| 5. 149| Payable Turnover Ratio| 10. 89| 10. 46| 9. 956| 14. 126| Fixed Assets turnover Ratio| 7. 44| 6. 85| 6. 430| 7. 5143| Total Assets Turnover ratio| 1. 18| 1. 142| 0. 826| 0. 816| Activity ratios describe the relationship between the firm’s sales/cost of goods sold and the assets needed to sustain operating activities.The higher the ratio, the more efficient the firm’s operations as relatively fewer assets are required to maintain a given level of operation. Inventory turnover ratio measures the efficiency of the firm’s inventory management. A higher ratio means inventory does not remain in warehouses for long time. In both years Tech Mahindra has higher ratio than TCS has. Since both are s oftware companies, need for inventory is very less. Hence the ratios are so high. Receivable turnover ratio measures the efficiencies of the firms credit policies and indicate the level of investment in receivables needed to maintain the firm’s sales level.The higher this ratio, the lesser the period in which debtors pays money. Its almost similar for both the companies for 2011-12. For 2010-11, Tech Mahindra is slightly ahead in comparison to TCS in this parameter . It implies that Tech Mahindra gives credit to its customer for lesser time period than TCS does. In 2010-11 average credit time given by TCS is 365/4. 554=80 days approx. while by Tech Mahindra is 365/5. 149=70 days. Payable turnover ratio implies the time duration after which company makes payments to its creditors. The higher ayable turnover ratio, the earlier company makes payments to its creditors. TCS’s payable turnover ratio is slightly better than that of Tech Mahindra in 2011-12. For 2010-11, Tech Mahindra has better payable ratio than TCS as it makes payment to its creditors earlier. Fixed assets turnover ratio measures the efficiency of long-term investment. This ratio reflects the level of sales generated by investment in production capacity and shows the efficiency level of fixed assets. The higher this ratio means more productive and efficient are fixed assets or long-term investments.From table it is clear that investments of TCS are slightly more productive than of Tech Mahindra for 2011-12 but it was reverse by almost the same amount for 2010-11. Total assets turnover ratio considers total assets instead of only current assets so; it measures overall efficiencies of all assets (current fixed). TCS has a better ratio than Tech Mahindra has. Profitability Ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| PBIT Ratio| 2. 224| 2. 3511| 0. 1429| 0. 1847| PBT Ratio| 0. 284| 0. 2952| 0. 1104| 0. 1623| PAT Ratio| 0. 212| 0. 242| 0. 0878| 0. 1403| ROA| 0. 336| 0. 338 | 0. 118| 0. 150| ROE| 0. 48| 0,367| 0. 134| 0. 206| This is the most important ratio because both shareholder’s and stakeholder’s profit/gain depends on profitability of company. These ratios measures profitability in terms of % of sales. Debenture holders are much concerned about PBIT(profit before interest and tax) as they are paid interest out of it, government is more concerned about PBT(profit before tax) as it charge tax on this profit, shareholders are more concerned about PAT(profit after tax) as they are paid dividends on the basis of it. For both the companies there is a little change in these ratios over the previothemyear.Also profitability of TCS is more than Tech Mahindra. ROA measures the management’s ability and efficiency in using the firm’s assets to generate profits and it reports the total return accruing to all providers of capital(debt and equity) while ROE considers amount available for distribution to shareholder’s. Both RO A and ROE are undoubtedly better for TCS than those of Tech Mahindra. TCS is giving superb rate of return on equity to its shareholders as 33-34 % in last two years while that for Tech Mahindra is 15-17%. The relationship between ROA and ROE reflects the firm’s capital structure. 2. Horizontal, Vertical and Trend Analysis Items selected For horizontal, vertical and trend analysis are: Items | TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Shareholder’s Fund| 29579. 23| 24504. 81| 34432| 33840| Inventory| 17. 77| 22. 82| 2| 6| Fixed Assets| 6564. 97| 5440. 98| 8153| 6608| Cash and bank balance| 6003. 47| 4700. 85| 1389| 1938| Creditors| 3247. 87| 2572. 33| 4684| 3034| Debtors| 11520. 35| 8194. 97| 12431| 9643| Total assets/liabilities| 41394. 49| 32681. 04| 63454| 60804| Vertical Analysis: In vertical analysis Auditors calculate portion of one item in total assets/liabilities in terms of percentages.Items | TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Shareholderâ€℠¢s Fund| 71. 45| 74. 98| 54. 26| 55. 65| Inventory| 0. 042| 0. 069| 0. 003| 0. 009| Fixed Assets| 15. 85| 16. 64| 12. 848| 10. 86| Cash and bank balance| 14. 5| 14. 38| 2. 18| 3. 18| Creditors| 7. 846| 7. 871| 7. 381| 4. 9| Debtors| 27. 83| 25. 07| 19. 59| 15. 85| Horizontal Analysis: In horizontal analysis Auditors calculate % change in an item over a base year. Here Auditors are considering 2009-10 as base year and will calculate % change. Items| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Shareholder’s Fund| 95. 29| 100| 97. 50| 100|Inventory| 60. 87| 100| 33. 33| 100| Fixed Assets| 95. 25| 100| 118. 30| 100| Cash and bank balance| 100. 83| 100| 68. 55| 100| Creditors| 99. 68| 100| 150. 63| 100| Debtors| 111. 01| 100| 123. 59| 100| Trend Analysis: For TCS: For Tech Mahindra: 3. Suggestions: i. Creditors: Since the debt ratios are less, there is a lot of assets and equity backing for the debts. It’s a safe bet to lend to both of these companies. ii. Banks and Finan cial institutions : Interest Coverage ratio is high. So lending to these companies is a safe thing to do. (More so to TCS which has excellent Interest Coverage Ratio) iii.Investors: Both the companies have high ROE. So it’s a good option to invest in them. Returns of TCS are as high as 34-36% while that of Tech Mahindra are 15-17%. iv. Government: Tax benefits can be tightened a bit. Because with the proportion of sales tax appears to be less. PBT and PAT ratios for both the companies are almost equal. v. Management: Crediting policies should be changed a bit. Because software industry being a intangible industry can’t rely much on low recievables turnover ratio. 4. Accounting Policies TCS Fixed Assets Fixed assets are stated at cost, less accumulated depreciation / amortization.Costs include all expenses incurred to bring the asset to its present location and condition. Fixed assets exclude computers and other assets individually costing ` 50,000 or less which are not capitalized except when they are part of a larger capital investment program. Depreciation / Amortization Depreciation / amortization on fixed assets, other than freehold land and capital work-in-progress is charged so as to write-off the cost of assets, on the following basis: Type of asset Method Rate / Period Leasehold land and buildings Straight line Lease period Freehold buildings Written down value 5%Factory buildings Straight line 10% Leasehold improvements Straight line Lease period Plant and machinery Straight line 33. 33% Computer equipment Straight line 25% Vehicles Written down value 25. 89% Office equipment Written down value 13. 91% Electrical installations Written down value 13. 91% Furniture and fixtures Straight line 100% Intellectual property / distribution rights Straight line 24 –60 months Rights under licensing agreement Straight line License period Fixed assets purchased for specific projects are depreciated over the period of the project. InvestmentsLo ng-term investments are stated at cost, less provision for other than temporary diminution in value. Current investments, except for current maturities of long term investments, comprising investment in mutual funds are stated at the lower of cost and fair value. Inventories Raw materials, sub-assemblies and components are carried at the lower of cost and net realisable value. Cost is determined on a weighted average basis. Purchased goods-in-transit are carried at cost. Work-in-progress is carried at the lower of cost and net realisable value. Stores and spare parts are carried at cost, less provision for obsolescence.Finished goods produced or purchased by the Company are carried at lower of cost and net realisable value. Cost includes direct material and labtheir cost and a proportion of manufacturing overheads. Tech Mahindra Fixed Assets including intangible assets: Fixed assets are stated at cost less accumulated depreciation. Costs comprise of purchase price and attributable c osts, if any. Depreciation / amortization of fixed assets: (i) The Company computes depreciation of all fixed assets including for assets taken on lease using the straight line method based on estimated useful lives.Depreciation is charged on a pro rata basis for assets purchased or sold during the year. Management’s estimate of the useful life of fixed assets is as follows: Buildings 28 years Computers 3 years Plant and machinery 5 years Furniture and fixtures 5 years Vehicles 3-5 Years Office Equipments 5 years (ii) Leasehold land is amortised over the period of lease. (iii) Leasehold improvements are amortised over the period of lease or expected period of occupancy whichever is less. (iv)Intellectual property rights are amortised over a period of seven years. (v) Assets costing upto Rs 5,000 are fully depreciated in the year of purchase. vi)The cost of software purchased for internal use is capitalized and depreciated in full in the month in which it is put to use. Invest ments: Long term investments are carried at cost. Provision is made to recognise a decline other than temporary in the carrying amount of long term investment. Current investments are carried at lower of cost and fair value. Inventories: Components and parts: Components and parts are valued at lower of cost and net realizable value. Cost is determined on First-In-First Out basis. Finished Goods: Valued at the lower of the cost or net realisable value. Cost is determined on First-In-First Out basis. . ) Key Highlights TCS a. ) Auditor’s Report 1. Auditors have audited the attached Consolidated Balance Sheet of TATA CONSULTANCY SERVICES LIMITED (â€Å"the Company†) and its subsidiaries (collectively referred as â€Å"the TCS Group†) as at March 31, 2012,the Consolidated Statement of Profit and Loss and the Consolidated Cash Flow Statement for the year ended on that date, both annexed thereto. These financial statements are the responsibility of the Company’ s management and have been prepared by the management on the basis of separate financial statements and other financial information regarding components.Their responsibility is to express an opinion on these financial statements based on their audit. 2. Auditors conducted their audit in accordance with the auditing standards generally accepted in India. Those Standards require that Auditors plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. Auditors believe that their audit provides a reasonable basis for their opinion. 3. Auditors did not audit the financial statements of certain subsidiaries whose fina ncial statements reflect total assets (net) of ` 4825. 13 crores as at March 31, 2012, total revenues of ` 7601. 89 crores and net cash inflow amounting to ` 514. 17 crores for the year ended on that date.These financial statements and other financial information has been audited by other auditors whose reports have been furnished to us, and their opinion in so far as it relates to the amounts included in respect of these subsidiaries is based solely on the report of other auditors. 4. Auditors report that the consolidated financial statements have been prepared by the Company’s management in accordance with the requirements of the Accounting Standard (AS) 21, Consolidated Financial Statements prescribed by the Central Government under Section 211 (3C) of the Companies Act, 1956 and other recognized accounting practices and policies. 5.Based on their audit and on consideration of the separate audit reports on the individual financial statements of the Company and the aforesai d subsidiaries and other financial information of the components, and to the best of their information and according to the explanations given to us, Auditors are of the opinion that the attached consolidated financial statements give a true and fair view in conformity with the accounting principles generally accepted in India: (i) in the case of the Consolidated Balance Sheet, of the state of affairs of the TCS Group as at March 31, 2012; (ii) in the case of the Consolidated Statement of Prof t and Loss, of the profit of the TCS Group for the year ended on that date; and (iii) in the case of Consolidated Cash Flow Statement, of the cash flows of the TCS Group for the year ended on that date. b. ) Management Discussion The Company’s strategy to support longer term growth is to continually extend the core IT services business by expanding its geographic reach, industry coverage and service capabilities and by deepening existing client elationships, building or acquiring emergi ng businesses and adopting or creating new business models and business solutions. Risks The Company has put in place an Enterprise-wide Risk Management (ERM) programme based on the Committee of Sponsoring Organisations of the Treadway Commission (COSO) framework. Reports are placed before the Board of Directors at regular intervals. The risk management process is continuously improved and adapted to the changing global risk scenario. The agility of the risk management process is monitored and reviewed for appropriateness with the changing risk landscape. The process of continuous evaluation of risks includes taking stock of the risk landscape on an event driven as well as quarterly basis.The risk categories covered under the ERM programme includes strategic, operational and financial as well as compliance-related risks across various levels of the organisation. This includes risk assessment and mitigation at the company level, business / functional unit level, relationship level an d project level. c. ) Corporate Governance Effective corporate governance practices constitute the strong foundations on which successful commercial enterprises are built to last. These practices are categorised through principle based standards and not just through a framework enforced by regulation. It develops through adoption of ethical practices in all of its dealings with a wide group of stakeholders encompassing regulators, employees, shareholders, customers and vendors.Strong leadership and effective corporate governance practices have been the Company’s hallmark and it has inherited these from the Tata culture. The Company will continue to focus its resources, strengths and strategies to achieve its vision of becoming a truly global leader in software services, while upholding the core values of excellence, integrity, responsibility, unity and understanding, which are fundamental to the Tata companies. By combining ethical values with business acumen, globalisation w ith national interests and core business with emerging business, the Company aims to be amongst the largest and most respected global organisations. The Company elieves in adopting the ‘best practices’ that are followed in the area of corporate governance across various geographies. The Company has a strong legacy of fair, transparent and ethical governance practices. The Company has adopted a Code of Conduct for its employees including the Managing Director and the Executive Directors. In addition, the Company has adopted a Code of Conduct for its Non-Executive Directors. Both these codes are available on the Company’s website. The Company’s corporate governance philosophy has been further strengthened through the Tata Business Excellence Model, the Tata Code of Conduct for Prevention of Insider Trading, as also the Code of Corporate Disclosure Practices.The Company has in place an Information Security Policy that ensures proper utilisation of IT resource s. The Company is in compliance with the requirements stipulated under Clause 49 of the Listing Agreements entered into with the Stock Exchanges with regard to corporate governance. Tech Mahindra a. ) Auditors’ Report The audit was conducted in accordance with the auditing standards generally accepted in India. Those Standards require that auditors plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and the disclosures in the financial statements.An audit also includes assessing the accounting principles used and the significant estimates made by the Management, as well as evaluating the overall financial statement presentation. Auditors believe that their audit provides a reasonable basis for their opinion. (a) Auditors have obtained all the information and explanations which to the best of their knowledge and belief w ere necessary for the purposes of their audit; (b) In their opinion, proper books of account as required by law have been kept by the Company so far as it appears from their examination of those books; (c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the ooks of account; (d) In their opinion, the Balance Sheet, the Statement of Prof t and Loss and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956; (e) In their opinion and to the best of their information and according to the explanations given to them, the said accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012; (ii) In the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date and (iii) In the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. b. ) Management Discussion Opportunities Growth in Emerging MarketsCompared to the subdued growth expected in developed markets, emerging markets will continue to drive relatively higher growth due to new spectrum licensing, migration to direct to home platforms, broadband penetration, focus on value added services and conducive regulatory environment. This will create opportunities for the software service providers who can assist operators in achieving their business objectives in these areas. Moreover, as the developing world focuses on shift of Mobility, it may bring in huge investments in this area which could create opportunities for companies like Tech Mahindra. Legacy to Next Generation IT transformationTelecom is a dynamic and evolving indus try with high focus on consumers’ changing demands. Service providers around the globe, on the back of dropping legacy revenues and high costs, are looking to transform their clients’ legacy platforms into next generation platforms. This will enable clients to optimize their product portfolio, and rationalize the costs associated with running the systems. These transformation initiatives will lead to outsourcing opportunities. Tech Mahindra has been at the forefront of helping its clients transform their businesses in line with the changing global telecom environment. Increased scope of outsourced activitiesAccess to talent and cost optimization is the key driver for outsourcing. Telecom service providers are adopting several outsourcing strategies to benefit from off shoring. One of the trends is services which traditionally were done in house are now being included in the scope of global sourcing. In the network domain, network outstheircing provides an opportunity f or wide range of services like field services, maintenance & support, E2E implementations and network infrastructure management. Managed services deals to cover network legacy systems have been tried in the mature markets and a similar trend will continue for the coming years. Adoption of Next Generation TechnologiesThe telecom industry continues to adapt and evolve with new technologies and new ways to communicate. Successive waves of new technology in wire-line, wireless and IP domains have been sweeping the industry landscape. The Telecom industry is also altering to cope up with the changing needs and behavitheir of consumers and increased competition. Customers believe in convenience, choice of services, responsiveness and cost as important parameters to choose their service provider. Success in current business environment is characterized by the ability to adapt to the higher user expectations on the one hand and a rapidly changing technology environment on the other.As mobil e broadband penetration expands, quick monetization has become a strategy of paramount importance for telecom service providers. Service providers are now focusing on providing solutions to enterprises by enabling their applications to be accessed via mobile platforms such as smart phones and tablets. With the growth in social network media across the world, coupled with higher broadband penetration, users have been voicing their views about quality of services. Analysis of user sentiments on such social networks, within limits of privacy laws, is another area where there has been a growth in demand. Threats Reduction in Telecom Spending The global economy is going through turbulent times and most companies are reacting to the increased volatility.Though cash-rich, telecom companies have turned cautious due to the challenging macroeconomic environment. The decisions cycles on new discretionary spend are prolonged. The service providers continue to focus on reducing costs by adopting measures such as optimizing IT Spend and postponing investments. Such cost-saving measures could have an adverse impact on outsourcing. Global IT companies posing challenge with growing India presence Global IT service providers such as Accenture, HP, CapGemini and IBM are expanding their presence in India and pose a challenge to Indian IT service companies with their global client relationships, deep pockets and domain knowledge. Risks High customer concentrationIn FY 2012, revenues from the leading client, top 5 and top 10 clients account for 37%, 68% and 78% respectively. Though customer concentration has been declining over the years, loss of any of these clients could have a material adverse impact on their revenue and profitability. After Mahindra Satyam’s merger with the Company customer concentration will reduce significantly. Withdrawal of tax benefits In the past Auditors benefited from certain income tax incentives under Section 10A of the Income Tax Act (for the IT services that Auditors provide from specially designated â€Å"Software Technology Parks† or STPs) and also from Section 10AA of the Income Tax Act (for the IT services Auditors render from units set up in SEZs).As a result of these incentives, their operations in India have been subject to relatively low tax liabilities. The income tax benefits available to STP units have been discontinued from 1st April 2011. As this withdrawal was foreseen, the Company decided to set up facilities in SEZ units at various locations as the units set up in SEZ area would continue to provide them with tax benefits similar to those in STPs. Auditors commenced operations in SEZ units at Hinjewadi Pune, Chennai, Kolkata and Chandigarh. Additional units are coming up at Noida. But despite this, tax incidence will increase over the previous years due to withdrawal of Section 10A benefits.In addition, there is no assurance that the Indian government will not enact laws in the future that would ad versely impact tax incentives further and consequently, their tax liabilities and profits. When their tax incentives expire or are terminated, their tax expense will materially increase, reducing their profitability. Exchange rate risks The exchange rate between the Indian Rupee and the British Pound and the Rupee and the U. S. Dollar has fluctuated widely in the recent past and may continue to fluctuate significantly in the future. The average value of the Rupee for the FY 2011-12 against the British Pound appreciated by approx 7. 7% and against U. S. Dollar by approximately 4. 4% for the FY 2010-11.Accordingly, their operating results have been and will continue to be impacted by fluctuations in the exchange rate of the Indian Rupee with the British Pound, the U. S. Dollar along with other foreign currencies. Any strengthening of the Indian Rupee against the British Pound, the U. S. Dollar or other foreign currencies, as witnessed in the last year, could adversely affect their pro fitability. c. ) Corporate Governance Report The Company believes that Corporate Governance is a set of guidelines to help fulfill its responsibilities to all its stakeholders. It is a voluntary code of self-discipline to ensure that the Company abides by highest ethical standards. In line with this philosophy, the Company follows healthyCorporate Governance practices and has been reporting the same in annual report even before the Company was listed in August 2006. Board of Directors: The Composition of the Board is in total conformity with Clause 49 of the Listing Agreement, as amended from time to time. The Company has a balanced mix of eminent executive, non-executive and independent directors on the Board. The total strength of the Board of Directors is eleven. The Company has a Non-executive Chairman, who is a professional Director in his individual capacity and belongs to the Promoter Group and the number of independent directors is seven which is more than half of the total strength of the Board as required by the provisions of the Listing Agreement.The number of Non-Executive Directors is ten which is more than 50% of the total number of Directors. The Company is managed by the Vice Chairman & Managing Director and the Management Team. The Board reviews and approves strategy and oversees the performance to ensure that the long term objectives of enhancing stakeholder value are met. The Independent Directors and the Senior Management have made disclosures to the Board confirming that there are no material financial and/or commercial transactions between them and the Company which could have potential conflict of interest with the Company at large. The Board meets at least four times a year and the maximum gap between two meetings is not more than four months.During the year 2011-12, six meetings of the Board of Directors were held on 20th April 2011, 26th May 2011, 12th August 2011, 15th November 2011, 8th February 2012 and 21st March 2012. Agenda for the Board Meetings containing all necessary information / documents is made available to the Board in advance to help the Board to discharge its responsibilities effectively and take informed decisions. In some instances, documents are tabled at the meetings and the concerned manager also makes presentations to the Board or Committees. None of the Directors on the Board is a member in more than 10 committees or acts as a Chairman of more than 5 committees across all companies in which he is a director.The directors of the Company are not inter se related. CEO / CFO Certification As required under Clause 49 V of the Listing Agreement with the Stock Exchanges, a Certificate on the Financial Statements for the financial year ended on 31st March, 2012 has been given to the Board of Directors by the Vice Chairman & Managing Director and the Chief Financial Officer of the Company. Code of Conduct All the Directors and senior management personnel have affirmed compliance with the Code of C onduct/ Ethics as approved and adopted by the Board of Directors and a declaration to that effect signed by the Managing Director. The Code has been posted on the Company’s website – www. techmahindra. om Policy for prohibition of Insider Trading In compliance with the provisions of SEBI (Prohibition of Insider Trading) Regulations, 1992, (as amended from time to time) and to preserve the confidentiality and prevent misuse of unpublished price sensitive information, the Company has adopted a policy for prohibition of Insider Trading for Directors and specified employees of the Company, relating to dealing in the shares of the Company. This policy also provides for periodical disclosures from designated employees as well as pre-clearance of transactions by such persons. Whistle Blower Policy The Company has a Whistle Blower Policy in place.In terms of this policy, all employees are encouraged to report any instance of unethical behaviour, fraud, violation of the Company ’s Code of Conduct or any behaviour which may otherwise be inappropriate and harmful to the Company. The policy provides a mechanism for employees to raise concerns that relate to violation of the Code of Conduct, Accounting, Internal Controls, Auditing Matters and applicable national and international laws including statutory / regulatory rules and regulations. This policy has been communicated to all employees and has been posted on the Company’s Intranet for ready access. Risk Management: The Company has a well-defined risk management framework in place. The risk anagement framework adopted by the Company is discussed in detail in the Management Discussion and Analysis section of this Annual Report. The Company has established procedures to periodically place before the Board, the risk assessment and minimization procedures being followed by the Company and steps taken by it to mitigate these risks. 6. ) Share Prices Analysis Share Prices of TCS as on 29th August ar e nearly Rs 1352. 90. It has increased from approximately Rs 954 to Rs 1352. 90. Share prices have been on the increase in the last year. According to the price movements and ratios calculated it is a very good buy. Share Prices of Tech Mahindra as on 29th August are nearly Rs 875. 80.It has increased from approximately Rs 617 to Rs 875. 80. Share prices have been on the increase in the last year. According to the price movements and ratios calculated it is a good buy. Comparing both together TCS is a better buy. 7. ) Key Improvement Areas and Ratings a. ) Key Improvement Areas Both should try to reduce their debtors. Tech Mahindra should increase its volume of current assets. Rest both the companies are high performing companies as seen by the analysis and share prices. b. ) Rating TCS is better than Tech Mahindra as the ratios are fairly better for it. Also from investment point of view share prices and ROE has been better for TCS. Also profitability of TCS is higher.

Conflict Management Essay

Webster’s defines conflict as: To come into collision; be in mutual opposition (274). If you wanted to choose an organization to study conflict in, you would have to look no further than the military. The military has no single approach to conflict management. There are too many individual personalities within a multitude of internal systems to be able to singularize the conflict. It is often the case that the conflict you are having was caused by a system put into place by someone outside your organization. It could be as simple as the cause and effect syndrome. For example, if the 335th Forward Support Battalion (FSB) commander put a policy in place, that his battalion would perform mandatory proficiency training on processing Department of the Army Form 2406 on Mondays; this would cause his leaders to close the shops in order to conduct this training. While on the other hand, the 1-5th Infantry Battalion commander put in place a policy that his battalion would perform equipment maintenance on Mondays. His battalions’ leaders would have a conflict because if they had equipment that needed to be turned in, they would not be able to do so. The FSB’s shops would be closed due to their training. Inadvertently, these two battalion commanders have caused a system conflict. This type of conflict happens quite often in the military because these commanders are very goal oriented; but fail to take into account the conflicts that may arise from the system that he just emplaced. It would now fall on the battalions’ Executive Officer to negotiate a win-win solution to this conflict in a very rapid manner. Without a win-win solution, there would be a visible conflict that would eventually become apparent to the hierarchy and a solution may be imposed that might not be favorable to both parties involved. The driving force for the resolution of this conflict would be not allowing the conflict to reach the â€Å"boss†. I work in the Division staff which often task or gives directives to the Division’s Main Support Command’s (MSC’s). These task or directives often cause great pain in the MSC’s. This is a perfect example of a win-lose  conflict. The MSC’s can submit a declination of tasking, but they often are directed to do the tasking anyway. In essence, these tasks are coming straight from the General himself and cannot be simply dismissed. At this point it has become an authoritative command to do the tasking. An example of this situation would be a battalion that has been over tasked beyond its physical means. This battalion has been tasked to supply more personnel than it physically possesses. The problem may be that all the other battalions are in the same boat. The battalion has to adapt and be creative in order to meet to end goal. The most common approach that I have seen used is the appeal to our common goal of successfully completing the mission. I have had to work with many individuals whom I just could not come to a mutual understanding with. This conflict may have been caused by a personal difference, a different view of how to perform the mission, or even how to utilize our forces. In the end, we have to realize that to continue with this conflict means jeopardizing your common goal of accomplishing the mission. This may result in a lose-lose conflict where both party’s had to compromise their positions in order to secure success. Collaboration, authoritative, accommodation, and compromise are conflict management styles that I have used and seen used on an almost daily basis. It really depends on the person and whom that person has the conflict with. It may be that the individuals themselves do not have a conflict, but that a system has been emplaced that is causing their conflict. Avoidance is a management style that I do not see a lot of. When it does rear its nasty head, it is at the lower levels of the organization. It is usually there because the individual thinks that it is not a serious problem and his time would be better utilized doing something more productive. This chain of thought usually leads him to a path of discord because the conflict will snow ball into a larger problem that has become visible to his superiors. The two conflict management styles that I myself am prone to are competing and collaborating. I am very aggressive in my views and will dominate by  force if I need to. I am also very attune to recognizing that there is a problem or a conflict may arise because of circumstances of an issue. I am not locked into the two styles though. They are just my natural trends. I am very quick to analyze a situation or individual to determine what course I will take to get the maximum effectiveness from. The end goal is the objective. How I get there can be adjusted according to situational awareness. Works Cited Smith, S. Stephenson, et al, ed. Webster Comprehensive Dictionary International Edition. Chicago: Ferguson, 1987.

Robotic Surgery Technology And Equipment - 1335 Words

As human improves technology every day, he also progresses in medicine and surgical procedures. The most painful and invasive surgeries done centuries ago are now easily done due to improved technology and equipment. Without the help of the new technology provided in health care today, the most common procedures would have been incredibly difficult to not only perform, but also to recover from. Robotic surgery is an advanced technology with a serious mechanism that operates patients with the use of smallest technical instruments instead of traditional operation where a doctor directly performs the surgery. Surgical robots are designed with two arms that are used during the operation and while the surgeon monitors through a 3D camera. This†¦show more content†¦For certain cases where surgeons face technical difficulties, the facility should have the ability to convert to laparoscopy upon surgeon’s request. Such technical issues that impact patient safety would require the presence of engineers and technicians to troubleshoot the robotic surgeons during the surgery, however, the engineers’ guidelines are for the use of the machine during the surgery or to troubleshoot after an incident. A study done based on the adverse events data related to robotic systems and instruments used surgery and a report to MAUDE from January 2000 to December 2013 indicate that during the study period, 144 deaths (1.4% of the 10,624 reports), 1,391 patient injuries (13.1%), and 8,061 device malfunctions (75.9%) occurred. Device and instrument malfunctions, such as falling of burnt/broken pieces of instruments into the patient (14.7%), electrical arcing of instruments (10.5%), unintended operation of instruments (8.6%), system errors (5%), and video/imaging problems (2.6%), constituted a major part of the reports. In 1,104 (10.4%) of the events, the procedure was interrupted to restart the system (3.1%), to convert the procedure to non-robotic techniques (7.3%), or to reschedule it to a later time (2.5%) (Alemzadeh, Iyer, Kalbarczyk, Leveson, Raman, 2015). As the surgical and medical field continues to adopt advanced technological machines and equipment, safety based design technicsShow MoreRelatedPolitical Implications And Robotic Surgery1285 Words   |  5 Pagesï » ¿The 21st century can rightfully be considered as the era of technology when the new inventions and discoveries will most likely affect all the segments of human life. At this point, some of the breakthrough inventions of our times have been in the medical field. Robotic surgery has become an almost common practice in the advanced medical world and new uses for robotic assisted surgery are everyday set in place. However, such developments also attract different interests and implications. ThereRead MoreTechnology And Medicine : Are Robotic Surgeons Better Than Human Surgeons?1714 Words   |  7 PagesTechnology and Medicine: Are Robotic Surgeons Better Than Human Surgeons? Today, robots are utilized to execute highly specific, precise, and dangerous tasks in industry and research previously not possible with a human work force. We depend on robots to build our cars, land our planes, and operate at a level of precision and accuracy with dedicated motions scalable in speed and force unreachable for human beings. Oxford Dictionaries define robots as â€Å"A machine capable of automatically carrying outRead MoreRobotic Surgery : Content And The Media1223 Words   |  5 Pages Robotic Surgery Content and the Media Introduction The controversy on the mind of the hero’s or celebrities of robotic surgery, are within the medical professional community. The surgeons, universities and hospitals are that discussing. as well as attempts to prove, with no avail, that the addition of a robot to minimally-invasive surgeries (minimally-invasive surgery is surgical techniques limit the size of incisions needed and thus lessens wound healing time, associated pain and riskRead MoreHow Technology Has Revolutionized The Dimension Of Healthcare1698 Words   |  7 PagesTechnology and information technology has revolutionized the dimension in which we view the medical world. This is in view of medicines, equipment, personnel, etc. with very many changes happening, healthcare is susceptible to the change and the beneficiaries of healthcare, who are the individuals and the communities who receive healthcare administered in clinics, hospitals, aging services homes, hospices, hospitals and other organizations that are affected directly by healthcare like medical insuranceRead MoreHow Technology Has Affected Healthcare1225 Words   |  5 PagesOur world runs on technology. The introduction of the home personal computer and the internet launched our society to a modernized, technology-depended community. Vast array of information are available to us every minute of every day. If any of us have a question that we needed the answer to, all we have to do is use Bing or Google or some other search engine and search for the answer. It is so easy now to obtain information. Furthermore, technology has greatly affected healthcare. Due to the technologicalRead MoreThe Uprising Of Robotic Surgery Essay1162 Words   |  5 PagesThe Uprising of Robotic Surgery The newest surgical procedure As the years pass, technology is advancing rapidly in many different areas, particularly in medicine. Just 15 years ago, people did not have access to the medical technology available today. Patients are operated on differently and the medical field is continuously advancing to ensure the safest and fasted way to perform a surgery and decrease the recovery time that follows. In recent years, the use of robotics in surgery has grown extensivelyRead MoreImpact Of Social Media On Society1443 Words   |  6 PagesTechnology has always played a role in society. From politics, economics, and culture, it has shaped how the world into what we see today. Major advancements in military technology, healthcare, communication and production have led the way to unprecedented growth not only in the United States, but in emerging countries as well. However, with advancements, comes drawbacks; and some are massive. From social media, medicine, to communications, even to the atomic bomb; the advantag es are noticeable,Read MoreRobotic Surgery : The Medical Professional Community1501 Words   |  7 Pages The controversy on the mind of the hero’s or celebrities of robotic surgery, are within the medical professional community. The surgeons, universities and hospitals are that are discussing as well as attempt to prove with no avail, that the addition of a robot to minimally-invasive surgeries (minimally-invasive surgery is surgical techniques limit the size of incisions needed and thus lessens wound healing time, associated pain and risk of infection), has improved their performance and resultsRead MoreRobotic Surgery1167 Words   |  5 Pagesyou haven’t heard about it before: robotic surgery. Today, I would like to inform you about the definition and the types of robotic surgery, their advantages and their disadvantages. let us start by introducing robotic surgery. Defined by Allrefer.com:  « Robotic surgery is a technique in which a surgeon performs surgery using a computer that remotely controls very small instruments attached to a robot ». () In his article, What are the types of robotic surgery?, Mike selvon explains about the Read MoreOverview Of Robotic Surgery765 Words   |  3 PagesRobotic Surgery A laparoscopic approach appears to be associated with a reduction in surgical trauma and blood loss. In addition, it is presumable that some of the benefits of minimally invasive surgery such as reduced analgesic requirements, a shorter recovery period and reduced hospital stay (Kuhry, 2005). It has become a forerunner in the quest of improving surgical results by dropping postoperative pain and lessening recovery time. Yet, the use of laparoscopic instruments can be awkward and

Nike Plc - 1183 Words

NIKE, INC COMPANY PROFILE Nike, Inc. is the biggest producer of athletic apparel and footwear global by sales. Headquartered in One Bowerman Drive, Beaverton, USA, the company sells products through 346 retail outlets across and 343 stores outside the US with famous brands such as Nike, Converse and Umbro over 170 countries. It is employing 34,400 workers and has been being competed strongly by Adidas and Puma (Nike company website, 2010). ok For the last five years, Nike’s revenue increased steadily except 2010 ($19,014m, ), a decrease of 0.8% as compared to 2009) (ibid). By region, North America accounted for 36% of sales, followed by Western Europe (19%), Greater China (9.4%), Central and Eastern Europe (4.85%) and Japan (3.54%)†¦show more content†¦The level of competition is higher and higher because of the development of many new companies as well as Adidas and Puma (Datamonitor, 2010). For instance, Adidas has been investing a lot of money into its campaigns on internet such as campaigns on Youtube, Facebook to reach the young customers (Sportskeeda website, 2010). Another threat is the cheap products imported from China and the development of fake goods market putting pressure on the company (Datamonitor, 2010). Most counterfeit products are produced from China. These goods have exactly the same types as the products of original brands. The counterfeit Nike is made of a lower quality material in co mparison to the original product (Bizaims website, 2008). EVALUATION Despite the current recession it seems that the future of Nike will continue to develop. According to Reuter (2010), there is an increasing (11%) in orders for Nike’s brand apparel and shoes totalling $7.7 billion from 2010 through April 2011. Moreover, Nike has replaced Adidas to be the sponsor of the French soccer federation which is a good chance to increase the revenue. Henri de La Grandville (2011) said that what Nike has now is a great challenge and selling a lot of shirts is the first thing the company must do. Also, Nike owns staff of specialists in the areas of biomechanics, chemistry, exercise physiology, engineering, industrial design, and related fields which help to evaluate products during the design and developmentShow MoreRelatedSocial Responsibility in Stakeholder Theory1509 Words   |  7 PagesTable of Contents 1. Introduction 2 2. Social responsibility in stakeholder theory 3 2.1 Why social responsibility? 3 3. Limitations 4 4. Case study examples: Starbucks amp; Nike 4 5. Conclusion 5 6. References 6 7. Appendixes 9 Appendix A 9 Appendix B 10 1. Introduction This report focuses on social responsibility issue focusing on stakeholder theory. Social responsibility will be introduced and defined based on stakeholder theory. Next, analysis on the importance and limitationsRead MoreA Report On The London Stock Exchange1308 Words   |  6 Pagesunderstanding of how the 12000 pounds invested to the chosen company will be stated and the reason for an increase or decrease in the money invested. The chosen companies are SPORTS DIRECT and JD SPORTS FASHION PLC. COMPARISM OF SPORTS DIRECT AND JD SPORTS REVENUE. â€Å"JD SPORTS fashion plc. Is an international retailer and distribution of sports, Athletes, fashion, footwear, apparel and accessories Company, established by David Makin and John Wardle at Bury, United Kingdom in 1981. The company operatesRead MoreMarketing Objectives for Nike Sports Drink1342 Words   |  6 PagesObjectives Nike will have a number of different marketing objectives for their isotonic sports drink, Nike Go. A main market objective will be to establish the isotonic drink as the most credible sports drink in the market. This will not just happen though, this can only happen through a lot of promotion and appeal. Creating strong consumer awareness is very important in gaining market share as it is a completely new product from Nike. This can be done through promoting the product, Nike Go, and allowingRead MoreBtec 3 P, M1592 Words   |  7 Pagessomething, especially a business Public sector = the part of an economy that is controlled by the government. Private sector = the part of the national economy that is not under direct government control. The two business I have chosen are NHS and Nike The NHS (National Health Service) is located in the public sector as it is financed and controlled by the government. The NHS is solely located in the United Kingdom, and provides free health care for the citizens of the United Kingdom. The NHSRead MoreHow Business Is An Organization987 Words   |  4 Pagespublic who are willing to invest in a business they are interested in. The company name is also meant to end with PLC. Examples are Tesco, Barclays PLC, Marks Spencer’s group PLC after it became a partnership. These companies count as a public limited companies because they sell their shares to any of the public who are interested in investing in the business, and they all end in PLC. Social Enterprise is an organisation that aims to improve in human and environmental well-being. They use theRead MoreCase Study : Apple Inc.1417 Words   |  6 Pageshold name, the brand value of Apple, INC, improved to $ 13,724 million 2008 from $ 11,037 million in 2007 (Datamonitor PLC) . Apple is different from its competitors because its produce high quality products, its products are also unique and attractive and this had helped to increase its markets shares since Apple is no globally, 54% profits come from foreign markets (Datamonitor PLC). Apple products are easy to use and carry around majority of its products are light, small and very easy to carry aroundRead MorePresentation And Background Of Macintosh Inc1605 Words   |  7 Pagesthe brand estimation of Apple, Inc. enhanced to $13,724 million in 2008 from $11,037 million in 2007 (Datamonitor PLC, 2009). Apple is not quite the same as its rivals since it delivers superb items, its items are likewise novel and appeali ng and this has expanded its pieces of the pie. Since Apple is known all around, 54% benefits originate from outside business sectors (Datamonitor PLC, 2009). Apple items are anything but difficult to utilize and bear, lion s share of its items are light, littleRead MoreIntroduction Traditionally, financial reporting discloses only financial information to determine2600 Words   |  11 Pagesthem. Example 1: Nike Inc Nike Inc first incorporates Corporate Social Reporting (CSR) in 1998 to provide sound social and environmental practice. However, the actual practice of Nike does not seem to be in line with what has been reported. Nike had been sued for exploiting workers in sweatshops, failed to provide a safe and healthy working environment. It misused the GRI guidelines in building trust and gaining more investors while do not comply with the guidelines. The Nike factories are strictlyRead MoreCase Study : Apple Inc.1694 Words   |  7 Pageshold name, the brand value of Apple, INC, improved to $ 13,724 million 2008 from $ 11,037 million in 2007 (Datamonitor PLC) . Apple is different from its competitors because its produce high quality products, its products are also unique and attractive and this had helped to increase its markets shares since Apple is no globally, 54% profits come from foreign markets (Datamonitor PLC). Apple products are easy to use and carry around majority of its products are light, small and very easy to carry aroundRead MoreSwot Analysis for Adidas970 Words   |  4 PagesY-3 label and Porsche Design Sport. That means that they selling not just clothing but lifestyle, unique trendy teenage lifestyle. 3. Competitors The main competitor for Adidas which should be mentioned is Nike Another competitor which is worth to mention is Puma Amer Group PLC and Finnish Markka. 4. Market segment: Young men ,women and children with passion towards fitness and sports Target group: Urban upper-middle and upper class SWOT Strength * Biggest sponsor of sport

How Should We Accept Inevitable Progression Of Growing Old...

Introduction How should we accept inevitable progression of growing old and finally death? In today’s modern society the very subject of aging is often taboo and shrouded in anxiety and shame. The same holds true in regards to the death. The Mere mention of dying tend to make most people uncomfortable therefore the subject is rarely ever talked about unless as part of a classroom or at the end someone’s life. Mitch Albom’s inspiring bestseller brings to light these trials and tribulations of the aging and dying process. Tuesdays with Morrie offers advice for positive living with the aging and dying process through anecdotes and examples from the author’s interview with his elderly and dying professor Morrie Schwartz. Morrie teaches us to face up to the real problem of aging and dying in order to remain youthful in spirits. The Aging Adult Experience There is no doubt that everyone knows about the biological, mental and physical changes that we experience as we age, which is known as aging. Aging is the process of â€Å"the process of change in the properties of a material occurring over a period, either spontaneously or through deliberate action† (â€Å"Definition of AGING,† n.d.). Evidence has proven that we age the most rapidly during the earlier years of life, as we mature from infants to sexual mature adults. As note by Moody Sasser, (2015) the changes occur more slowly after physical maturity, but it never stops. From this point on with every passing birthday most of ourShow MoreRelatedThe Process of Acceptance Essay1504 Words   |  7 Pagesto acceptance is long, complicated, and composed of several stages necessary to finally reach healthy results. 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Aware of the inevitable that seasons will always change and can never be controlled, Rossetti uses the motif of life cycles in order to demonstrate that we should be satisfied with all that God provided us with on earth. â€Å"Life nursed in its grave by death†, In ‘Spring’ Rossetti impliesRead MoreIt is too Quiet in the After2618 Words   |  10 Pagesof my uncle’s flat screen TV was for the first time not seeping through the cracks of my bedroom walls, and my parent’s screaming voices where finally silent after years of arguing. Even the white noise from the broken radio that my grandmother refused to turn off because she claimed that my grandfather spoke to her through the chorus of static had finally ended. But that silence, that delightfully relieving silence was wrong somehow and I couldn’t put my finger on it. As I lay there in my bedRead More The Terri Schindler-Schiavo Case Essay5755 Words   |  24 Pagestemporarily cutting off oxygen to her brain (Associated Press April 30, 2001). Terri fell into a coma and was hospitalized and ultimately placed on a feeding tube to provide hydration and nutrition. According to the doctors attending to Terri in 2001, death would occur within one to two weeks of removal of the equipment that is providing food and hydration to her (St. Petersburg Times, 7 March 2001, sec. 3B). After a prolonged hospitalization, Michael Schiavo, Terri’s husband, filed a petition to haveRead MoreThe American and French Revolution: Similarities and Differences4254 Words   |  18 Pagescountry. Thomas Hutchinson, the royal governor of Massachusetts at the time, sums the reason for war best, saying ‘No middle ground exists between the supreme authority of Parliament and the total dependence of the colonies: it is impossible there should be two independent legislatures in one and the same state (Van Tyne 135). The American Revolution was effectively a conservative advancement, and was fought to preserve the independence America had thoroughly expounded since the 1620s, when GreatRead MoreDepression Is A Normal Part Of Aging Among Older Adults10811 Words   |  44 Pagesabuse (Dorfman, 1995). It is believed that depression that occurs late in life can increase the risk of cognitive decline. In addition to be stigmatize, older adults can equally be at a higher risk for depression due to certain health issues, fear of death, social isolation, living alone or loss of loved one (Help Guide, 2015). Older adults can also be at a higher risk for depression due to different combination of medication being prescribed by their medical provider. Moreover, other factors that canRead MoreA Feminist Study of Louisa May Alcott’s Little Women5846 Words   |  24 Pagesorder of the world and women’s place in it.† The independence of women is a major theme in the novel. 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Negotiating Old Age Identity in the Elderly Consumption Ensemble Michelle Barnhart Àà º Lisa Penaloza18943 Words   |  76 PagesAre You Calling Old? Negotiating Old Age Identity in the Elderly Consumption Ensemble MICHELLE BARNHART ËÅ" LISA PENALOZA As the elderly population increases, more family, friends, and paid service providers assist them with consumption activities in a group that the authors conceptualize as the elderly consumption ensemble (ECE). 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Working during high school free essay sample

A Job is Part of High School Student’s Success Johan Cruijff once stated, â€Å"Every disadvantage has its advantage.† This famous quote leads to the issue of whether students should work or not work during high school, which has been a controversial hot topic in the Parent/Teacher Association. Working during high school may affect students’ school performance, yet working also provides invaluable working skills. According to the short article, â€Å"Part-Time Work Ethic: Should Teens Go For It?† by Dennis McLellan, â€Å"80% of high school students had held part-time jobs by the time they graduated† (270). Statistics show that the majority of the high school students held a position in a job during high school, and these students still graduated successfully. Although parents and teachers understand that working can interfere with schoolwork and therefore discourage students to work during high school; I believe that working during high school can help students to gain working experiences, stay on track, and improve their academic performance. Having a job can interfere with students’ school performance. According to Dennis McLellan’s article, jobs can take away students’ study time. â€Å"Students who work long hours are more likely to cut back on courses at school, taking easier classes and avoiding tougher ones† (271). Meaning that students are exhausted from work, thus less likely to catch up with school works. One of the examples that McLellan mentioned in his article is a high school student named Nathan Keethe, who constantly get B’s and works more than 20 hours each week for an exterminating service. He stated that working during high school year is a distraction. Another example is a friend of mine in high school named Jen. She worked 10 hours a week, much less than Keeth, and still struggling with her schoolwork. She was unable to manage her time wisely and balance between work and schoolwork. After failing the history test, she talked to her manager and cut down her hours to 5 hours per week. Thus, Jen had more time to study and found a tutor to help her catch up. Fortunately, she caught up before the finals. Thus, many people conclude that working in high school can easily end up undermining the education. In this case, managing and balancing between school and work is a challenge and a lesson that every student needs to learn. Working during high school has more advantages than disadvantages. Students are able to get the financial benefits from jobs. According to Katherine Cress, the author of â€Å"Why Not Ask the Students? Urban Teenagers Make the Case for Working,† students can use their income to take the pressure off their families. Teenagers often ask parents for money, but high school students are young adults who should be able to take care of themselves and should be more independent. Working can make this happen. Working students are able to contribute â€Å" †¦their own support–and thereby [contribute] to the welfare of the family as a whole . . . † (290). Cress provides several examples in her article, which includes the fact that Laronda lends her mother money; Kevin pays for his family’s groceries; and seventeen years old Carmen is already married and works to pay the household expenses. Furthermore, I had a job in high school as a tutor for flute, three hours a week and ten dollars for each lesson hour. I earned $30 per week and I was able to go shopping and watch movies without begging my mother for money. A job can take care of the basic financial issues on students. Another advantage of working during high school is that the jobs provide the basic skills and working habits that are hard to gain from school. None of the prior research showed that students could learn valuable skills and working habits in school. Cress points out a remarkable example of a working student, named James (example of him doing what?). He states that he learns the administration skills in work that he will need in his future job. He worked in a record store and he confidently claimed that he would be able to handle the entire store by his senior year because he will accumulate the working experiences such as communication skills, management skills, and stocking. These invaluable skills, that will help James to achieve his goal and â€Å"operate his own business after college† (288) includes marketing, managing, and stocking. One working skill that I learned from teaching flute is patience, and it is still useful to me. I recall the first couple times when I taught a beginner in flute. It irritated me whenever she didn’t get the correct articulation, which means a musical technique that affects the transition on the notes. Nonetheless, she was only a beginner; I noticed that I shouldn’t expect perfection from her. So I reviewed the basic skills step-by-step and played with her until she can play the entire phrase perfectly by herself. Working skill is the experience that we have to go through personally in order to build our way to success in future jobs. Last major advantage that students can benefit for working during high school is that their jobs can keep students away from troubles and laziness. The students who choose life on the streets over jobs are going home to watch television, which will develop the sense of laziness, and getting into gang activity. In Cress’s study, Reggie points out â€Å" †¦there’s kids out there—stealing cars, selling drugs, and all that† (289). In other words, the school demands very little from students, thus the only alternative is the drug and alcohol. However, a job can solve all of the problems. There are two examples from my family that can clarify the point in which working will decrease the chance of getting into trouble and the usage of drugs and alcohol. When one of my older brothers, Kevin, who went to high school, used to party every night because he said there was no homework at all, and he had nothing to do than going to parties. My parents thought a job might be a distraction for Kevin’s schoolwork, but I think if Kevin got a job in high school, then he wouldn’t go party everyday and got average grades. On the other hand, when I was a freshman in high school, I didn’t get much homework as well. So I watched television everyday, even before school. When the progress report came out, I was shocked because I had C’s in my classes. Thus, I hid the report card from my parents and started to study. I also found a job as a tutor just to keep me busy and away from the television. Gladly, not only did I maintained my grades throughout the school year, but also performed exceptionally in my job. A job can help parents to keep an eye on the students from doing poorly in school and help the students to stay away from trouble. Jobs have more benefits than harms. Many parents and teachers may argue that students who have jobs also have low academic performance. However, this is not always the case. If students avoid the excessive working hours, then students still can keep their focus on the education. It is important for student to start to work during high school to learn the foundation skills. In other words, students are able to be independent and support their family; students are able to learn the essential working skills that they will need in their future; and students are able to stay away from trouble. Therefore, the Parent/Teacher Association should encourage students to start working during their high school years.â€Æ' Works Cited Cress, Katherine. â€Å"Why Not Ask the Students? Urban Teenagers Make the Case for Working.† Text and Contexts. 7th ed. Eds. William S. Robinson and Stephanie Tucker. Boston: Woodsworth, 2009. 283-290. McLellan, Dennis. â€Å"Part-Time Work Ethic: Should Teens Go For It?† Text and Contexts. 7th ed. Eds. William S. Robinson. Boston: Woodsworth, 2009. 269-274.

Traditional Roles of Men and Women free essay sample

The traditional family roles of men and women have certainly changed over the last few generations. The traditional family has been defined since the biblical days. It portrays men as the independent hunters and women as the dependent gatherers. However, today there is a continuing decline of the traditional family and the rise of the equal two-earner family. The traditional roles of men and women were established to enable power to head of household, which is historically known as the male.In the past, children have been raised to expect men to be brave, dominant and industrious while the women have been expected to be weak, timid and nurturing. A boy was raised to believe that his role would be that of the sustainer of wealth and the head of the family. For his education, it was very important for boys to attend school to obtain a great occupation where professional qualifications were only important for men. We will write a custom essay sample on Traditional Roles of Men and Women or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page On the other hand, a girl was raised to believe that education was not important for her, so she had to stay home and help her mother with the chores. The workplace was not the primary area of women as career advancement is viewed upon as unimportant for women. Her role was to find somebody who would marry and provide for her. Thus, she needed to focus on perfecting herself by practising household chores and learning to cook in order to satisfy her husband.In a marriage, the mans traditional roles was the worker and protector, he provided the food and home while the woman was the home maker, the cook, the cleaner and the nurturer of children. When it came to decision making, the man had the last say, where as the woman was viewed as a valueless servant of the powerful man of the household. Fortunately, as a consequence of the success of the suffragette and feminist movements, the traditional roles have been lost.Marriage is now about equality rather than power and domination on the man’s part. Now, education, politics and job opportunities have opened up for woman. Today, school is viewed as important for both girls and boys and same qualification for men and women for job opportunities. More women have joined the work force and more men have taken on household tasks. In the past, housekeeping and child care are the main functions of the woman. Now, all housework is done by both the mother and father.In addition, todays society has evolved into a mix of single parents, double income families and homosexual parents/partners. Along with that, women have adapted and gained independence. They no longer need a man to provide for the family and is capable of doing it alone. To conclude, the traditional family has become almost a myth. Today’s society is moving towards equal rights in every area of life. However, equality is still not globally accepted as some countries still maintain the outdated traditional roles for men and women.