BU7204 SM Assignment April 2014 Essay Example | Topics and Well Written Essays - 2000 words

BU7204 SM Assignment April 2014 - Essay Example esents a comparative study of the schools of thought model formed by Henry Mintzberg, which is utilised to categorise strategic management fields for companies and the Strategic Lenses provided by Johnson, Scholes and Whittington (2008). The paper outlines each one of these models and assists understanding and applicability through industry examples. The comparative study at the end tries to assess the relevance and applicability of each thought. Henry Mintzberg’s 10 schools of thought is a framework that is used to elaborate on the concept of strategic management. The schools have been described and a critique of insights is presented under each category. The 10 schools of thought mention ways in which strategies are to be formulated (Mintzberg, Lampel and Ahlstrand, 2005). These schools of thought discuss methods that are to be deployed while framing a company strategy. As per this school of thought, formulating a strategy is a deliberate process that begins with the conception of unique and clear notions. The tools such as, SWOT and Ashridge Mission model, are used to assess the external and internal environment of business. This strategy is best suited for stable business environments, but eliminates relevance of the external business environment (Ambrosini and Collier, 2007). Under the planning thought, strategy formulation is a formal procedure where strategic execution is preceded by a rigorous analysis of the context. This strategy involves a great deal of brainstorming and promotes innovative thought. For example, Clear shampoo used a popular football icon to communicate and market its male shampoo, Clear Men. Here strategy formulations happen as a process of analysis where business is compared with industry standards and strategies are formulated to improve market position. The strategy aims towards changing or altering the present company position in market and perception in the minds of consumers. Toyota shifted its positioning to a manufacturer

The Olympic Games Essay Example | Topics and Well Written Essays - 500 words

The Olympic Games - Essay Example However, there was not enough positive response from the delegates. That was actually devised for the study of amateur sports, he again voiced his view on the revival of the Olympic Games and was delighted when the other countries participating in the Congress agreed with him. Following this consensus, delegates decided to have Coubertin construct a committee, comprising members of various countries, to conduct the first Modern Olympics in Athens, Greece. That committee headed by Demetrious Vikelas from Greece oversaw the preparations for the games and that committee only became the later day and now functioning International Olympic Committee. So, Pierre de Coubertin is widely-acknowledged as the originator of the modern Olympic Games, along with Demetrios Vikelas. The three Latin words of Citius, Altius, and Fortius became the Olympic motto, with Coubertin himself proposing after having borrowed it from his friend Henri Didon, a Dominican priest who taught the sport to students. Th e games started at the Athens’ Panathenaic Stadium in a celebratory mood on 6th April 1896 and concluded on 15th April. â€Å"The modem games were inaugurated in style, with the ritual and fanfare that Coubertin felt was essential to their social purpose.† Competitors came from 14 nations, with around 245 athletes, all of whom were male. From those beginnings, the games continued to take place with increasing number of countries and athletes every four years, with the exception of the years during the World Wars.

Book review Essay Example | Topics and Well Written Essays - 750 words

Book review - Essay Example From a brief overview of this book, it is evident that the author has a passion for English Language. The appendices and glossary of the book create a picture of the book contents to the readers. The book also contains citations that tag along translations of the same. In short, the technical aspect of the book highlights the themes the author aims at displaying. Apart from this work, Lerer has worked on many other works including articles and recordings of the development of the English language. The major theme of the book is to trace the development of language as a result of the influence of historical backgrounds and occurrences. In his work, he draws attention to the key moments that led to the development of language. The first stage according to Lerer (pp.56) is the Caedmon era of the 7th Century; he wraps up his language on Christian concepts that shaped the daily living of individuals. These chronicles documented major events that unfold in the day to day living ranging fro m the normal conversations in the localities to language in courts. In his work, Lerer (pp.4) indicates, various forms of language came up including Language that was applicable in the courts. From his argument, it is justified to argue that Lerer (pp.5) indicates that language has had a series of developments till the novel language. Among the quotations include ‘ban’, ‘ham’ and ‘twa’ which Lerer quotes to have evolved to bone, home and two respectively. All culture and people have played a major role in the development of language at all levels in the society. However, he indicates that language development has greatly been influenced by know-how, globalization, war as well as politics. Through the above techniques, people have endeavored to communicate with one another, in turn creation and development of language in the societies. Lerer (pp.28) argues in his work that language is beautiful and will always develop despite the situations or o ccurrences in the society. By virtue of language not being static, he praises the fact that even in times of appalling situations, language has never become futile. It is in light to this argument that language has experienced changes that keep unfolding as each day progresses. In fact, he indicates that at times when the human race experienced its worse times and phases, neither did language diminish nor disappear, but kept flourishing alongside events in the society. Lerer (pp.91) advises individuals not to despond whilst reading the English language. Though at times, the language may prove difficult to read and comprehend, readers of works must take initiatives of acquiring the best information from a certain material. He indicates that his work must not be viewed as a complex structure, but a mere conversation with the person who read his work. This is possible through his simple and understandable writing style, short and comprehensive chapters that display a clear transition f rom the earlier centuries to the present life. Throughout the book, one is bound to have a compulsion of the work though the themes are not quite interrelated in all chapters but dissimilar essays. This work brings to light the meagerness of studying English language. Lerer (pp.41) in turn, offers readers an opportunity to read and understand the language through explanations on the history and development of the language. He brings out propinquity on the changes that took

Assignment Example | Topics and Well Written Essays - 500 words - 206

Assignment Example It can also track the non-performing segments and provide a platform from which the group can decide whether or not to clear with some departments. Using Stern Stewart’s lists of effective management with regards to maximizing on the components of EVA, it is possible to see just how appropriate capital employed serves the business. The Capital Light strategy seeks to make available larger sums of capital all in the name of taking advantage of the way in which potential investors will hold the fort in case of an expected payday. EVA can be put to task with regards to its effectiveness in picking out the non-performing segments or investments. As the instigator of EVA, Stern Stewart and Co., enjoy a significant share in the market and a healthy result for their years of service. The current levels of compensation seem excessive especially when put into perspective regarding profit and loss. The example of Freddie Mac, Fannie Mae shows just how far the rot has spread with the company now operating at a loss in the name of maintaining staff with major skills. It becomes a major burden ensuring that the objectives of the shareholders are satisfied. The compensation levels however, should come into play even before a CEO’s term ends. The payment will make a significant impact on whether or not the company continues in the set pathway. The way in which a CEO drives forward his/her agenda is mainly dependent on the manner of their economic contribution (Fortune, n.d). An imbalanced and overpaid leader will impact negatively on morale and lead to loss of profit levels. It is especially true in the event of an economic downturn. The question of giving raises and bonuses to the employees of the federal and state governments during poor economic performances desires an answer. These governments have the power within them to improve living standards for

Deployment of Emergency Care Practitioners by UK Ambulance Services Essay

Deployment of Emergency Care Practitioners by UK Ambulance Services - Essay Example The emergency health care practitioners were to be given specific target to emergency 999 calls so that they can provide appropriate care in the community. To make sure that all the health care workers adapt to this plan in a positive manner, an advisory team comprising of nurses was formulated. This team participated in discussions concerning adoption of various processes. This programme was a transformational programme rather than a change programme. Moreover for evaluation purposes, data relating to calls reviewed by nurses was collected and analyzed. Surveys related to patient satisfaction were carried out. These were done by contacting patients through telephone and make them answer a questionnaire. It was looked upon that there is proper accuracy of documentation and that all the call meets the required minimum satisfaction criteria. Peer reflection was also used to identify learning outcomes and improvements required for achieving good standards. Good news stories as well as case study materials are used for demonstration, identification of areas meant for further development. The increasing role of an emergency care practioner has increased job opportunities also. For deployment of the emergency personnel in urgent situations the nurse advisors role was also introduced. This helps to respond in a more appropriate manner. Study conducted on this area has revealed that about 600 to 700 ambulance journeys are saved each month by providing the patient with more appropriate outcome with the sustained expansion of the referral pathways. Analysis of statistics gathered in 2005 showed that almost 74% of the patients seen by the emergency service providers did not require the services of an ambulance. 50% did not require hospital treatment. The East midlands ambulance services team have a wide diversified staff group comprising both male and female workers. The scheme followed by the group has enabled to reflect needs of communities, patients

High performance Essay Example for Free

High performance Essay Conclusion: There are 3 different component dyes in the mix including blue dye, yellow dye and red dye. The blue dye has the highest Rf in chromatography ( Rf=1 in water and ethanol and isoprophy alcohol). The yellow dye has the lowest Rf in chromatography in ethanol and isoprophy alcohol and middle Rf in water (Rf=0.17 and isoprophy alcohol and lowest Rf in water (Rf=0.816 in ethanol, Rf= 0.678 in water and Rf=0.680 in isoprophy alcohol). Real World Connection HPLC-MS stands for High performance liquid chromatography mass spectrometry. HPLC-MS shares the same principle with paper chromatography. They both separate mixture using the difference in different affinities to mobile/stationary phase of different components. However, HPLC-MC is far different from paper chromatography. Firstly, HPLC-MC is composed of a liquid chromatography and a mass spectrometer. This instrumentation enables HPLC-MC to analyze a much wider range of components. While paper chromatography only qualitatively separate different component in a liquid mixture, HPLC-MS can quantitatively examine each component, including Compounds that are thermally labile, exhibit high polarity or have a high molecular mass. Secondly, paper chromatography use solvent as mobile phase and paper as stationary phase, but in HPLC-MS the mobile phase is the mixture of liquid and the stationary phase is the solid through which liquid flow. Thirdly, paper chromatography can be carried out at normal temperature and pressure, but HPLC-MS sometimes needs to be done under high pressure and certain temperature to successfully drive the liquid through the solid and best demonstrate the difference in affinities of different liquid compound.

BT Group: Financial Performance Analysis

BT Group: Financial Performance Analysis BT Group (BT) is the leading UK company providing landline telecommunication services and equipment. It also had the mobile telecommunication business which was subsequently sold as MMO2. After the sale of mobile business, BT’s profile has now changed from a growth company to a mature cash generating company. A)  Financial performance The most common objective assessment of the financial performance of a firm is the return it generates on its assets and the quantity and quality of the returns. Quantity is measured by the absolute and percent change in total profits. The profit and loss account of an organisation and its analysis are the prime and first indicators of a firm’s financial performance. The latest annual results of BT is for the period ending 31 March 2005. Appendix I shows the summary of key profit and loss figures over the last three years. BT’s turnover and profit after tax in 2005 have increased as compared to 2004 but are still lower than those in 2003. The turnover has declined by 5.7% only whereas profit after tax has declined by 32.7% over the two year period. This shows that the business has very low variable costs which is in line with the heavy fixed cost investments normally made by telecommunication companies in establishing their networks and subsequent very low variable costs in carrying data. While turnover increased in 2005, operating profits have declined. This indicates that the business is facing some pricing pressures or is spending more on advertisement as the operating profit declined by 0.5% only. BT’s 2005 profit after tax was  £1,820m and was substantially higher than  £1,406m. Though the absolute profit is very high number compared to most of the businesses and indicates that the company is in strong financial position, it also shows that BT has high financial leverage. The company paid a significant high interest and if revenues and operating margins come under more pressure, it could have trouble paying interest costs. BT is aware of this issue and has focused on reducing its net debt. After facing tough times in early 2000s, it has sold many previous investments to raise money for repaying debt. BT’s share price rose after it announced its strategic decision to reduce net debt by raising money through divestments. The net interest payments have declined from  £1,439m in 2003 to  £801m in 2005. Not only that, the net interest payment has declined from 49.5% of operating profit to 29.0% from 2003 to 2005. The reduction in net interest as a percent of operating profit is an important improvement as it gives investors comfort that even if operating margins come under pressure, the company would still be able to meet its interest liabilities. One quick way to analyse a company’s performance is to look at the earnings per share pattern. The earnings per share had also a change pattern similar to that of profit after tax. It first decreased from 31.4p in 2003 to 16.4p in 2004 before increasing to 21.4p in 2005. The 2005 increase in earnings per share highlights the improvement in performance. Though the profits did decrease in 2004, BT kept on increasing total dividend paid to shareholders. This shows the management’s faith in business going forward and its ability to meet higher dividend expectations in future. The returns generated on assets is measured by Return on Capital employed (ROCE). Appendix II shows the calculation of ROCE for BT. BT had a healthy ROCE of 19.0% and 20.7% in 2004 and 2005. The quality of returns is measured by their consistency and by the spread of profits, i.e., the percent of profits being generated from different divisions and locations. The less reliance of profits on any one division and/or location means the company is in better shape to withstand downturns in its markets. None of BT’s business contributed more than 50% in its turnover in the year ended 31 March 2005 (BT, 2005). This indicates that BT Group is reasonably well protected from the declines in a business line. The situation is slightly different if we look at the operating profits where BT Wholesale division contributes more than 50% of net operating profits. Any more margin pressures in this business could reduce future earnings. Most of BT’s earnings originate from UK and hence it earnings are susceptible to changes in UK economy. Financial position The financial position of a company covers its financial structure, its assets and liabilities, its liquidity and risk management approach (Accounting Standards 2004/2005). Appendix III gives the highlights of BT Group’s balance sheet from 2004 to 2005. The total fixed assets have increased by  £639m in the last year. While total fixed assets have increased, the total current assets have decreased by  £254m, so total assets have increased by  £385m. The lower increase in total assets as compared to increase in fixed assets is mainly due to decrease in cash and investments. The major change in financial structure has occurred on the liabilities side. The total current liabilities have gone up by  £3,938m due to increase in current loans and borrowings of  £3,227m. This shows that BT is financing much more of its assets from current borrowings. The massive increase in current loans and borrowings has reversed the net current assets (liabilities) position. BT had net current assets of  £2,027m in 2004 and had net current liabilities of  £2,165m in 2005, a net decrease in current assets of  £4,192m. While the current liabilities have increased, the long term creditors have decreased by  £4,335m. If we just look at long-term creditors, the reduction is impressive and it gives more confidence to the investors that company is in better financial position now. But when we combine the decrease in long term creditors with the increase in current liabilities, the net change is very less. And the fact that changes in current liabilities is mainly due to borrowing instead of increase in trade creditors means that the financing of assets has merely shifted from long term borrowings to short term borrowings. The current assets to current liabilities ratio has declined from 1.24 to 0.83 in the last one year, a sign of concern in terms of liquidity especially when the increase in liabilities is not mainly due to higher trade creditors. Debt to equity ratio indicates the financing of assets. BT had total debt of  £13,697m in 2004 and the corresponding figure for 2005 was  £12,589m, a decrease of  £1,108m. If we now exclude cash and short term investments from total debt, BT’s net debt was  £8,425m and  £7,786m in 2004 and 2005 respectively. The net debt to book value of equity ratio declined from 2.75 in 2004 to 2.02 in 2005. This means that debt finances almost twice assets as being financed by equity. Higher amount of debt results in lower weighted average cost of capital as debt is cheaper equity. But as BT reduces more debt, its weighted average cost of capital will increase. The increase would be partially offset by lower cost of equity due to lower chances of bankruptcy. Risk of bankruptcy is measured by interest cover ratio which is defined as the ratio of cash available for interest payments to net interest. Appendix IV shows the EBITDA calculation and interest cover ratio. The interest cover ratio has increased from 6.1 in 2004 to 7.0 in 2005. The healthy interest cover ratio shows that BT has further reduced the risk of bankruptcy and is in better financial position now. The debt level is now very much within manageable levels and is more like a cash rich mature company. Companies normally tend to follow certain dividend trend to signal market of their assessment of future earnings. Dividend declaration is also part of risk management as it is based on management’s assessment of future cash generation and expenditure expectations. The hike in dividend in 2004 and 2005 inspite of decline in profits in 2004 shows the management assessment of future low risks to cash flows. Financial Adaptability An entity’s financial adaptability is its ability to take effective action to alter the amount and timing of its cash flows so that it can respond to unexpected needs or opportunities (Accounting Standards 2004/2005, page 26). Appendix V shows the main elements of consolidated cash flow statement of BT Group. BT Group is generating high amounts of cash inflow from operating activities. During the year ended 31 March 2005, the company generated  £5,900m of net cash from operating activities. BT is in telecommunication business which demands relatively high level of absolute investments. It spent  £2,408m on capital expenditure during the year ended 31 March 2005. Even if we believe that all of capital expenditure was required under normal operations, BT was still left with  £2,282m of surplus cash in 2005. As we can see from the Appendix III that BT has now focused on repayment of loans. During the last three years, the company has reduced borrowings by  £7,395m. Though BT is able to generate significant amount of cash before disposals but that was not enough in 2003 and 2004 to repay loans. The company then sold some of its investments to generate cash for loan repayments. BT also pays a significant amount of dividend to its shareholders. So if its net cash from operations do decrease in future, it has still some buffer in terms of dividend payments to take care of loan repayments. B) The objective of financial statement is to provide information about the reporting entity’s financial performance and financial position that is useful to a wide range of users for assessing the stewardship of the entity’s management and for making economic decisions (Accounting Standards, 2004, page 22). The compliance of an entity’s financial reports with UK’s Accounting Standards can be gauged over two main areas – content and format. Content is important to give true and correct picture of a firm’s financial performance and position. Different users need different information. Financial statements are used by investors to base their investment decision. So it is important that financial statements have the right content to help achieve this goal. It is also important to have right format of presentation. Investors are more likely to feel comfortable if they see familiar presentation style and can then evaluate the company easily. We will look at the content and major financial statements to see whether they comply with UK Accounting Standards. We will then also at few additional notes to financial statements to see whether they are also in line with true and fair principle and give the readers a clear picture of the entity. First of all we compare profit and loss statement with FRS 3 ‘Reporting financial performance’. BT’s consolidated profit and loss statement clearly shows the total turnover and share from joint venture and associates, and in doing so gives more clarity of its earning base. The financial statement format is similar to the example formats shown in Accounting Standards 2004/2005. BT’s 2005 Annual Report however doesn’t show share of turnover and profits from discounted operations (BT, 2005). It is because BT didn’t sell any business in 2005. If we look at the 2002 Annual Report (BT, 2002), it shows the turnover and profits from discounted operations also. The financial statement also has statement of total recognised gains and losses in line with FRS 3 practices. So the accounts meet profit and loss statement UK Accounting Standards in terms of both content and format. We now compare BT’s cash flow statement with the format prescribed in FRS 1 ‘Cash flow statements’. BT’s cash flow statement has not only got all the headings but they are also in the same order as mentioned in FRS 1. BT report also gives sub-categories under the major headings and hence is a genuine effort to educate investors as much as possible on the generation and use of cash flows. BT cash flow statement uses the format prescribed for the ‘Group’ accounts. The notes to financial statement also has detailed reporting on reconciliation of operating profit to operating cash flows, analysis of net debt, acquisition and disposals in line with formats for the ‘Group’ accounts. The next section we analyse is on segmental reporting and check its comparability with SSAP 25 ‘Segmental Reporting’. SSAP 25 says that a public limited company should provide segmental analysis on lines of business class and geographical location. The notes to financial statement section in the 2005 Annual Report has a section on segmental reporting wherein BT shows the turnover, operating profit/(loss) and net assets/(liabilities) of different business lines. It also provides the above data based on the geographical location of reverse generation. The above meets SSAP 25 requirements and also helps investors make a better judgment of risks faced by BT. BT is in telecommunication business where technology change is rapid. BT has acquired many companies in recent years to keep pace with the technological developments. So it is important to analyse the acquisition policies and disclosures are in line with the UK Accounting Standards. FRS 6 ‘Acquisitions and Mergers’ and FRS 7 ‘Fair values in acquisition accounting’ govern the acquisition accounting policies. BT’s annual report under ‘Notes to financial statements’ gives detailed disclosure of total and fair value of the acquisitions made by it. BT’s financial statements not only give the book and fair value of acquisitions but also a detailed explanation of them for each acquisition. The clear and easy to understand format of financial statements and the depth of information in them signals that BT not only just do the minimum to meet UK Accounting Standards but also follows them in true spirit. Appendix I – Highlight of BT Group’s profit and loss accounts (Source: BT Annual Report and Form 20-F; http://www.btplc.com/Sharesandperformance/Howwehavedone/Financialreports/Annualreports/AnnualReports.htm) Appendix II – ROCE of BT Group (Source: BT Annual Report and Form 20-F; http://www.btplc.com/Sharesandperformance/Howwehavedone/Financialreports/Annualreports/AnnualReports.htm) Appendix III – Highlight of BT Group’s balance sheet (Source: BT Annual Report and Form 20-F; http://www.btplc.com/Sharesandperformance/Howwehavedone/Financialreports/Annualreports/AnnualReports.htm) Appendix IV – Interest cover ratio (Source: BT Annual Report and Form 20-F; http://www.btplc.com/Sharesandperformance/Howwehavedone/Financialreports/Annualreports/AnnualReports.htm) Appendix V – Highlight of BT Group’s cash flow statements (Source: BT Annual Report and Form 20-F; http://www.btplc.com/Sharesandperformance/Howwehavedone/Financialreports/Annualreports/AnnualReports.htm) Bibliography and references Accounting Standards 2004/2005 – Extant at 30 April 2004 (2004); Wolters Kluwer (UK) Limited. BT (2005); BT Annual Report and Form 20-F for the year ended 31 March 2005; http://www.btplc.com/Sharesandperformance/Howwehavedone/Financialreports/Annualreports/AnnualReports.htm BT (2002); BT Annual Report and Form 20-F for the year ended 31 March 2002; http://www.btplc.com/Sharesandperformance/Howwehavedone/Financialreports/Annualreports/Annualreportsarchive.htm