Machiavelli and Hobbes - 1493 Words

Machiavelli and Hobbes To be successful, one must have the appearance of virtuousness, but not necessarily be virtuous. At least, this appears to be true according to Niccolo Machiavellis works. Machiavellis idea of the virtuous republican citizen may be compared to Hobbes idea of a person who properly understands the nature and basis of sovereign political power. Hobbes ideas seem to suggest that most anyone can claim rightful authority as there is a belief in God, and one can under Hobbes, claim legitimate authority rather easily. There are few proofs. Machiavelli, on the other hand, takes a strong position and suggests specific criteria in terms of power. With Machiavelli, there is a sense of righteousness and fairness and while†¦show more content†¦This is an important point and to some extent divides the ideas of Hobbes and Machiavelli. It is difficult to imagine making law without God at the center. The two men seem to passionately disagree and have a grossly different outlook in terms of wh o is running the show. The embrace of God, or the rejection of God, is important in terms of how one views man. Machiavelli believes that good Princes make good law because there is an intrinsic right and wrong, but Hobbes really puts God at the center of the issue asserting that what is good is of God. There are several other differences one can note when comparing and contrasting Hobbes and Machiavelli. Machiavelli conveys the message that leaders must change with the times while it would seem that Hobbes would not support such a notion as Gods dictums are timeless. In many ways, the convictions that underlie Hobbes ideas are stronger. There was an incompatibility of religious ideas and a humanity that seems to be more equated with selfishness than with generosity. According to Machiavelli, one must have the appearance of virtuousness, but not necessarily be virtuous. That seems to be a contradiction and Hobbes would not likely support such an idea. At the same time, Machiavellis ends justifying the means hypothesis is not all that terrible. Those who would criticize the position would be comforted to know that the author fully expects a leader to look at every possible option andShow MoreRelatedMachiavelli, Hobbes, And Locke1791 Words   |  8 PagesCindy Kim Godrej Leslie Cox November 24, 2014 Paper 2 By looking at the readings of Machiavelli, Hobbes, and Locke, there are a few distinctions between how the modern thinkers viewed politics versus the way the ancient thinkers believed politics should be. There are many topics both modern and ancient thinkers discuss in their writings, such as the purpose of politics, the science of politics, human nature, as well as the ideal regime. By doing so, these thinkers’ views on political topics suchRead MoreNiccolo Machiavelli And Thomas Hobbes1472 Words   |  6 PagesNiccolà ² Machiavelli and Thomas Hobbes both have compelling views towards liberty or freedom. In relation to politics, the term liberty and freedom is an essential contested concept. Because we have no complete agreement as to what these terms concrete definitions are, we will always have politics. The two thinkers have provided a framework of what these two terms mean which laid out a platform for what the terms mean today. Machiavelli expressed his views throug h his works, The Discourses and TheRead MoreThomas Hobbes And Nicholas Machiavelli Essay1481 Words   |  6 Pages Thomas Hobbes and Nicholas Machiavelli embarked on the journey to create. Although depicted as nasty realists, closer reading into Machiavelli and Hobbes reveal the aspirations of idealists. Idealists who dared to imagine a different world, a world wherein man is not depraved and fallen — but is rather able to create. In effect, these idealist exalted man’s abilities rather than man’s depravity and banishment from the garden of eden. Machiavelli acknowledged that the practice of creating a politicalRead MoreSimilarities Between Machiavelli And Hobbes1205 Words   |  5 Pagesmen have pondered over ideas similar to this; how much power is too much power? And how much power should a man employ to hold an ideal government? This governmental â€Å"ideal† is what Niccolo Machiavelli’s The Prince strived to achieve and how Tomas Hobbes’ governmental steps in The Leviathan resulted. During the dramatic changes of the Italian Renaissance, The Pri nce was Machiavelli’s attempt to restore strong centralized power that Italy currently lacked. Furthermore, in response to the fear andRead MoreThe Political Theories Of Machiavelli, Niccolo Machiavelli And Thomas Hobbes1456 Words   |  6 Pagesprominent political theorists were Aristotle, Niccolo Machiavelli, and Thomas Hobbes. Aristotle viewed humans as natural â€Å"political animals† that have both rational and irrational sides to them, allowing for a government that provided overall goodness for the people. Machiavelli took a more grim view of human nature that shows humans as being naturally selfish and ambitious, so the government should be about greatness and maintaining power. Hobbes believed that in their natural state, humans are nastyRead MoreThomas Hobbes And Niccolo Machiavelli s The Prince And Hobbes Leviathan1447 Words   |  6 PagesThomas Hobbes and Niccolà ² Machiavelli are known to be philosophers whom have helped to develop the views of polit ical power and human nature. Both men had very different views from one another, yet at the same time they did indeed have many similarities. From having opposite views on Political Power, to having alike views on Human Nature, Hobbes and Machiavelli are men whom have shaped political philosophy throughout our time. Through the works of Machiavelli’s, The Prince and Hobbes’ Leviathan theirRead MoreHobbes, Locke, Rousseau, and Machiavelli Essay1855 Words   |  8 PagesHobbes, Locke, Rousseau, and Machiavelli The thirteenth through the eighteenth century brought profound changes in the political realm of Western civilization. Beginning with the Scientific Revolution and only advancing during the Renaissance, secularization and skepticism lead to changes in not only the intellectual life of Westerners, but also to their politics. At the forefront of the political debate were well-versed men such as Machiavelli, Hobbes, Locke, and Rousseau. The influencesRead MoreDifferent Philosophers, Nicolo Machiavelli And Thomas Hobbes1326 Words   |  6 Pagesphilosophers, Nicolo Machiavelli and Thomas Hobbes. Both Machiavelli and Hobbes express their thoughts and opinions on the topic of human nature in their work. In Machiavelli’s â€Å"The Prince† dating back to the renaissance is one of the most controversial pieces of writing still studied to this day. Machiavelli believes that we are born either powerful or born as nobody’s or as â€Å"private citizens† as he describes it (Machiavelli, The Prince, Chapters 12-18). Within this piece Machiavelli outlines and providesRead MoreComparing Machiavelli And Hobbes Political Writings And The Leviathan1423 Words   |  6 PagesBoth Machiavelli and Hobbes have personal roots in violent historical times which are seen reflected in their respective theories about the use of violence in politics. The legitimate use of violence is a topic addressed by both theorists in their respective works, as read in Selected Political Writings and The Leviathan. Who has the monopoly over the use of violence, what its terms of use are, and what the consequences of its use are, are distinct from the works of both Machiavelli and Hobbes. Hobbes’Read MoreEssay about Morality: Comparing Hobbes and Machiavelli1203 Words   |  5 Pagesmorality comes from, how it affects people under a political structure and how human nature contributes or doesn’t to morality. Hobbes and Machiavelli differ widely on each subject. Machiavelli’s views on morality, based upon a literal interpretation of the satire The Prince, is very much a practical and realistic approach to the nature of morality and human nature. Hobbes’ views, based in Leviathan, are of a more idealistic nature, and my views are a little in between the two. One of the major connections

U.s. Policy Making Process - 1339 Words

In order to effectively comprehend the United States of America’s (U.S.) policy making process, one must, accordingly, understand the various stages as well as the institutions involved in the same. More particularly, there are four key institutions involved in the U.S.’ policy making process; each of which play a significant role in the various stages of the process. Specifically, the U.S. policymaking process is comprised of four stages, to wit: agenda setting, formulation, implementation, and evaluation. First, the agenda setting stage is concerned with the specific problems of the public that the government aims to solve. Next, the formulation stage, or the â€Å"nuts and bolts† of policymaking, is the point when policymakers attempt to resolve the problem by creating new laws and policies. Thereafter, the new laws and policies that have been created are put into play in the implementation stage. Finally, in the evaluation stage is when policymakers ass ess whether the new laws and/or policies are working as intended, and whether it resolved the problem it was designed to target. (Moats, 2016, Congress: The Legislative Branch). Moreover, there are key institutions that are involved at the aforesaid various stages within the policymaking process, to wit: Congress, the President, the Bureaucracy, and finally, the Courts. More specifically, Congress is what is referred to as the â€Å"absolute center† of policymaking in the US – decides who gets what, when, and how.Show MoreRelatedPresidency and Foreign Policy Making Essay1692 Words   |  7 PagesPresidency In exploring the basis on which the U.S President is considered to hold dominant authority in regard to foreign policy making, and whether the Congress ought to hold a significant role in the foreign decision making process, it is imperative to take into account the executive powers vested on the U.S presidency. This paper posits that the Presidency should be considered to be dominant, while at other times the Congress should be considered to be the dominant authority. In this perspectiveRead MoreU.s. Constitution And The United States1307 Words   |  6 PagesThe U.S Constitution sets all the general rules and laws for the United States of America. The U.S. Constitution is very general because it is covering everything for the entire country. It gives an understanding on how the nation’s government works. Provides the framework of the proper functions, responsibilities, and what each section of the government has to provide. The U.S. Constitution is important to the countr y, but state constitutions are also important. State constitutions go in more depthRead MoreThe Effects Of Free Speech On The United States1729 Words   |  7 Pagesinvolved in the process of making policies and laws, who are fundamentally being manipulated through bribes by lobbyists. It is the responsibility of the United States citizens to remove this insidious power of money and the guise that money equals free speech in which lobbyist groups are using this tool to influence elections and policies. Removing the label that money equals free speech and regulating lobbyist expenditures will produce a more honest, well-informed decision making process by allowingRead MoreNorth Korea Is A Rogue State Essay1544 Words   |  7 Pagesfor concern for the U.S. and South Korea is North Korea’s continual test of nuclear weapons paired with its aggressive behavior towards its regional neighbors. North Korea’s irrational behavior could result in full blown conventional war in the region. This is why it is of the up most importance that the United States work with its regional partners to stabilize the Korean Peninsula by stopping North Korea’s proliferation and testing of nuclear weapons. 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Repercussions of policies are potentially f elt on every social and institutional level, with every policy havingRead MoreMexico City Policy Current Event900 Words   |  4 Pages Mexico City Policy Current Event The Mexico City Policy, also known by opponents as â€Å"The Global Gag Rule†, was originally introduced as an executive order by president Ronald Reagan in 1984. The policy was made to withhold U.S. family planning, funding and assistance from foreign NGOs (non-profits) that include reproductive health organizations and included private hospitals and clinics that perform or publicize abortions. â€Å"In countries where abortion is permitted, the policy prohibits healthRead MoreImmigration Policy At Kennesaw State University Essay1541 Words   |  7 PagesThe world has always debated immigration, yet never coming to a conclusion. On the one hand, there are some countries that have been more open to the idea and practice of immigration. Canada is a prime example. 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Evaluation of Financial Performance

Question: Discuss about the Evaluation of Financial Performance . Answer: Introduction Evaluation of financial performance of a business organization is an important aspect of any business. The evaluation of financial performance refers to the process of analyzing and evaluation the various factors of financial performance of an organization. Evaluation of financial performance is a strategic tool that helps the managers of the organizations to develop strategies for the smooth running of the business. The process of evaluation of the financial performance of the organizations helps to identify the strong and weak areas of the businesses; and this process helps in the development and implementation of effective business strategies. There are various components to evaluate the financial performance of the organizations. First, directors report of the companies in the annual report is an important source of information about the organization. The consolidated financial statements of the organizations include all the necessary information that is needed to evaluate the fi nancial performance of the organizations. The consolidated financial statements of the organizations include balance sheet, statement of income, statement of cash flows, statement of change of equity, information about the shares of the company and others. It is important to evaluate all the aspects of financial statements to get a fair and true financial picture of the organizations. Gulf Cement Company is the largest producer of cement in the United Arab Emirates. In addition, Gulf Cement Company is the leading cement exporter of United Arab Emirates. The production capacity of the company is 2.7 million tons of cement and 3.8 million tons of clinker. More than 500 employees are employed in the organization. The production and distribution of cement for Gulf Cement Company takes place on bags and in bulks. The main aim of the report is to analyze and evaluate the financial performance of Gulf Cement Company. For this purpose, the various financial statements of the company are evaluated to ascertain the true and fair financial position of Gulf Cement Company. Evaluation of Directors Report As per the above discussion, it can be observed that Gulf Cement Company is the largest cement company in United Arab Emirates and is the leading exporter of cement in the same region. Hence, it can be understood that Gulf Cement Company has a large amount of financial transactions. Being the largest cement company in UAE, Gulf Cement Company uses to publish the annual report of the company in a yearly basis. Apart from that, Gulf Cement Company uses to publish quarterly financial report on a regular basis. The annual report of the company includes the directors report of Gulf Cement Company. The directors report of Gulf Cement Company is the overview of the financial position of the company. The users of this financial report can get an idea about the financial position of the company by observing the directors report as this report shows the important financial figures throughout the year. On the other hand, the directors report expresses the financial point of view of the director s towards the company. Hence, it can be said that there is a lot of importance of the directors report to measure the financial performance of the companies. The Managing Director of Gulf Cement Company is considered as the main director of the company. Hence, the directors report of Gulf Cement Company is consists of the report of the Managing Director of Gulf Cement Company. As per the directors report of Gulf Cement Company, there are five sections in this report. The first section shows the gross profit, net profit, earning per share and gross profit ratio of Gulf Cement Company. The second section shows the details about the gross profit of the company. The third section contains the details about the investments of the company. The fourth section shows some information about the financial assets of the company. The last part includes the major financial ratios of Gulf Cement Company. These are the main areas of the business that helps to evaluate and analyze the financial health of any business organization. As per the directors report, the major financial ratios of the company are Gross Profit Ratio, Current Ratio and Quick Ratio. The financial details in the directors report is provided on the basis of two years; they are 2015 and 2016. As per the above discussion, the first part of the directors report is about the gross profit, net profit and information about the shares of the organization. As per the directors report of the company, the amount of review in 30.9.2015 was 487,244,587 that is more that of 423,636,484 on 30.9.2016. It has been seen that revenue is changed by 13 percent over a year. On the other hand, cost of sales has decreased in the year 2016 than 2015 by 16 percent. Cost of sales for the year 2015 was 411,488,424 and for the year 2016 were 347,506,526. It can be said that it is good to have lower cost of sales; but the decrease in revenue over the year is a concern for Gulf Cement Company. The Gross profit for the year 2016 was 76,129,958 that is more than 75,756,163 for the year 2015. The gross profit i9s increased by 0.50 percent. Despite being a little rise in the gross profit, it can be said that it is good sign to increase the margin of gross profit. This process leads to the increase in gro ss profit ratio for the company. The Gross profit ratio is Gulf Cement Company for the tear 2015 was 16 percent that is less than 18 percent of the year 2016. The gross profit ratio of the company is increased by 13 percent that is a good indicator for the organization. The increase in gross profit ratio indicates that Gulf Cement Company has managed its direct expenses in an effective way. Other operating income of the company for the year 2015 was 5,899,967 that are more than 5,685,710 for the year 2016. Other operating income of the company was decreased by 4 percent over the year. Decrease in the operating income is not healthy for the organization. The directors report shows that the selling and administrative expense of the company has decrease by 0.50 percent. The selling and administrative expenses for Gulf Cement Company for 2015 and 2016 were 35,931,131 and 35,759,467 respectively. The investment income for the organization was heavily decreased by 523 percent. The investment income for the year 2015 was 3,094,521. This same income for the year 2016 was (13,089,874). Other income of the company was also decreased by 64 percent in the year 2016 compared to 2015. One of the positive points is that finance cost of Gulf Cement Company for the year 2016 was decreased by 11 percent. As per the Directors report of Gulf Cement Company, it can be seen that the net prof it of the organization for 2016 was 46,922,013 that is more than 30,943,621 for the year 2016. It is a negative point as the decrease in net profit is not good for the financial health of the organization. The net profit of Gulf Cement Company has decreased by 34 percent in the year 2016 compared to the year 2015. The decrease in the net profit of Gulf Cement Company has created an adverse effect on the earning per share and book value per share of the company. Earnings per share for the year 2015 were 0.06 that is more than that of 0.04 in 2016. On the other hand, the book value per share decreased to 1.426 from 1.464. It can be seen that both earning per share and book value per share has been decreased in 2016. As per the major ratios of Gulf Cement Company, the current ratio for the year 2016 was 3.85 that is less than 3.92 for the year 2015. The same has happened for the quick ratio. The quick ratio for the year 2016 was 2.54 that is also less than 2.67 for the year 2015. This situation implies that the liquidity position of the company has decreased over the year[1]. From the above discussion, it can be seen that the Directors report of the company only includes some of the selected financial items of the company. As per the company rules and regulations, this is not an effective report of the directors. One of the most important requirements of the directors report is that it must include the principle activities of the company. However, the directors report of Gulf Cement Company has not included any principle activities of the organization. In addition, there must be a business review in the directors report. The directors report of the company does not include the any kind of business review of the business of Gulf Cement Company. On the other hand, all the necessary financial information of the company is not included in the directors report. This is one of the major requirements of a directors report that it must include all the financial information of the company. For all these reasons, the directors report of the company has become a mat ter of criticize. The directors have made a mistake by not analyzing the financial information that is included in the report. Hence, it can be said that the Directors Report of Gulf Cement Company is not an effective one. Quality of earning and earning sustainability: Gulf cement company is leader in producing cement in the emerging markets. Primary contributor towards their success is their ability to provide unique services to their customers as compared to their competitors. Annual report of the company includes information regarding their income and expenses and the accounting policies, based on which their earning quality and sustainability can be evaluated. Their operating income and expenses outcomes are as follows: They generated income from revenue amounted to $624,560,691 for 2013, $708,420,988 for 2014 that shown an increase of 13.40% as compared to 2013 and $612,426,174 for 2015 that shown a decrease of 13.60% as compared to 2014. Out of total revenue they incurred cost for sales amounted to $577,956,407, $598,313,377 and $514,932,707 for the year 2013, 2014 and 2015 respectively that shown increase of 3.5% as compared to 2013 and 13.9 decrease as compared to 2015. The company generated gross profit amounted to $46,604,284, $110,107,611 and $97,493,467 respectively 2013, 2014 and 2015 that shown a huge increase of 136.3% as compared to 2013 and an decrease of 11.5% as compared to 2014.[2] After spending towards operating cost, the company was able to generate net profit amounted to $68,517,011 for 2013, $60,572,549 for 2014 and $71,439,530 for the year 2015 that shown 11.6% decrease as compared to 2013 and 17.9% increase as compared to 2015. The company was able to generate comprehensive loss amounted to $18,440,532 for 2013, income of $23,671,591 for 2014 and $101,385,394 for 2015[3]. Performance table: Years Sales Net income Comprehensive income 2013 $624,560,691.00 $ 68,517,011.00 $ (18,440,532.00) 2014 $708,420,988.00 $ 60,572,549.00 $ 23,671,591.00 2015 $612,426,174.00 $ 71,439,530.00 $ 101,385,394.00 Table 1: Performance analysis Trend analysis: Figure 1: Trend analysis From the above table, it can be seen that the revenue of the company has increased by 13.40% from 2013 to 2014 and fell again by 13.60% in 2015. However the company was able to increase their gross profit by 136.3% over the year 3013 to 2014. The reason behind this huge increase is the revenue for 2014 was more as compared to 2013 and 2015. However, despite of experiencing huge increase in gross profit for the year 2014, the company could not convert this to net profit and experienced a fall of 11.6% as compared to 2014. The reason behind this was that for the year 2014, the income from investment was very low as compared to other years and finance cost for 2014 was $29,16,126 as compared nil charger for 2013 (Sabnis, G.M 2015). Further, the comprehensive income shown a huge fall by 50.4% in the year 2014 as compared to 2013 and again by 288.7% in the year 2015. Other key factors related to the Gulf cement company that may have impact on their earning are as follows: Apart from supplying in UAE market, the company deliver their products in more than 11 countries Their plant is depended on multi system of fuel like gas, coal and heavy fuel oil which in turn enable them to utilize the resources in effective way The companys raw material source for plant proximity assures regular supply for raw materials with minimization of cost. Finally, the economic slowdown in the international market will have least impact on the company, therefore the profitability of the company in turn will be least affected. Therefore, the earning sustainability of the company as seen from the above assessment is quite viable and the book value per share for the company was stable and moving around $1.40 per share. Evaluation of cash flow statement: Cash flow statement: Particulars 2015 2014 2013 Net cash from operating activities $ 122,562,130.00 $ 156,756,212.00 $ 86,760,353.00 Net cash from investing activities $ 63,177,638.00 $ (50,830,170.00) $ (223,531,434.00) Net cash from financing activities $ (84,071,065.00) $ (55,570,340.00) $ 80,220,151.00 Net increase or decrease in cash $ 101,668,703.00 $ 50,355,702.00 $ (56,550,930.00) Table 2: Cash flow analysis Trend analysis: Figure 2: Trend analysis It is noticed from the above table that the cash generation from the operation has been increased by huge amount over the year 2013 and 2014 that amounted to $86,760,353 to $156,756,212 respectively. This resulted due to decreasing of loss from the investment disposal at FVTPL that amounted to $15,51,859 in 2014 from $14,051,277 in 2013. However, in 2015 it decreased to $122,562,130. The reason behind this decrease was increase in provision for employees service end indemnity and unrealized loss generated from FVTPL investment. Huge amount was used for purchasing fixed asset that amounted to $252,516,895 in 2013. However, the amount decreased to $42,238,139 in 2014 the amount further decreased to $35,215,315 in 2015, which enabled the company to generate positive cash from investment activities amounted to $63,177,638 that were negative for both the year 2013 and 2014. Net cash generation from financing activities were turn into negative amount of $55,570,340 in 2014 from the positiv e amount of $80,220,151 and created further decrease to $84,071,056 in 2015. The main contributor towards this negative cash generation were the board remuneration that the company start paying in 2014 and continued to pay in 2015 also. Payment of dividend also increased from $37,874,348 to $40,524,194 and finally to $55,252,639 over the year from 2013 to 2015 consecutively. Finally the net increase or decrease resulted from all the activities were negative $56,550,930 to positive $50,355,702 and further increase to $101,688,703 which was more than double as compared to 2014. Therefore, it can be seen that the company was able to generate cash positively after meeting the operating, investing and financing expenses. The cash flow position of the company is quite sustainable and the company can be regarded as viable over the long run. The cash and cash equivalents of the company included demand deposits, cash on hand and any other liquid investment over the short term period that cou ld be converted to cash and under the considerable risk of value changes. Financial assets under FVTPL are calculated at fair value at the end of each year with consideration of any losses or gains generated from the on recalculation are measured in profit and loss account. Dividend income from the investment of FVTPL is identified in profit and loss statement only after the right of receiving dividend established as per the IAS 18 on revenue. Financial Credit Quality Credit quality analysis is one of the major processes to evaluate the financial health of an organization. There is a great significance of credit analysis for an organization. The main objective of credit analysis is to calculate the credit worthiness of that particular organization. In other words, credit quality analysis is done to know the financial power of the company to meet the financial obligation of the company. This analysis is done at the time of issuance of bonds. In the process of credit analysis, credit quality is a mandatory process that allows the investors to know about the creditworthiness of the particular organizations. Credit quality is analyzed to measure the credit worthiness of a particular bond or an investment or a long-term loan. Based on the credit quality, the credit rating agencies provide scored to those business organizations. This is the process of assessing the credit quality of a business organization. In the process of credit quality analysis, the ability of debtors to relay the debts to the organization is taken into consideration as the debt repayment ability of the debtors affect the credit worthiness of the business organization. There is not any exception of the credit quality analysis in case of Gulf Cement Company. The credit quality of Gulf Cement Company can be analyzed by evaluating the debtors and noncurrent liabilities of the organization. As per the financial report of Gulf Cement Company, the amount of financial lease liability for the year 2015 was 75,686,619 that is less than that of 104,489,917 for the year 2014. It can be seen that there is a decrease in this long-term liability. The amount of non-current liabilities for the year 2015 was 87,453,816 that is less than that of 115,664,145 for the year 2014. From the above information, it can be observed that a large amount of non-current liabilities has been repaid in the year 2015. This situation implies that the credit worthiness position of Gulf Cement Company is good as the company is able to repay its loan on a regular basis. On the other hand, this situation help to evaluate that the credit worthiness of the debtors of Gulf Cement Company is effective and they are good at meeting the obligation of the company. The above discussion is helpful to judge the credit quality of Gulf Cement Company. it can be seen that the company has a large amount of noncurrent liabilities. However, Gulf Cement Company has been able to repay those non-current liabilities. This process implies that Gulf Cement Company has an effective creditworthiness and the credit worthiness of the debtors is good. Professional comparison and ranking: Performance table: Name of the company Revenue Net profit Basic earnings per share Gulf cement company $ 612,426,174.00 $ 71,439,530.00 $ 0.09 National cement $ 261,541.00 $ 93,530.00 $ 0.26 RAK cement $ 335,174,306.00 $ 15,536,581.00 $ 0.03 Union cement $ 640,472.00 $ 103,671.00 $ 0.14 Table 3: Professional comparison Trend analysis: Figure 3: Trend analysis Earnings per share for the company National cement and Union cement are 0.26 and 0.14 respectively and that for Gulf cement company and RAK cement is quite low as 0.09 and 0.03 respectively. Therefore, the company should take appropriate measures to minimize their expenses which in turn can increase their earning per share[4]. Return on sales calculation Name of the company Return on sales (%) Gulf cement company 11.67 National cement 35.76 RAK cement 4.64 Union cement 16.19 Table 4: Return on sales analysis Return on sales has been calculated as = Net profit/Revenue*100 [5] Earning sustainability: Gross profit: Name of the company Revenue Gross profit Gulf cement company $ 612,426,174.00 $ 97,493,467.00 National cement $ 261,541.00 $ 39,800.00 RAK cement $ 335,174,306.00 $ 51,404,871.00 Union cement $ 640,472.00 $ 160,205.00 Table 5: Gross profit analysis Gross profit ratio calculation Name of the company Gross profit ratio (%) Gulf cement company 15.92 National cement 15.22 RAK cement[6] 15.34 Union cement 25.01 Table 6: Gross profit ratio analysis Gross profit ratio has been calculated as = Gross profit/Revenue*100 [7] It can be seen from the above table that the gross profit ratio of Gulf cement company is more or less same as compared to its competitors like National cement company and RAK cement company that resulted around 15%. However, the gross profit ratio of Union cement is quite high as compared to others and came to 25% approximately. It can be said that the gross profit ratio of Gulf Cement Company is complied with the industry average. As per the auditors report all the above companies financial report presented in fair manner with respect to all material items and complied with the international financial reporting standards. Cash flow analysis: Particulars Gulf cement company National cement RAK cement Union cement Net cash from operating activities $ 122,562,130.00 $ (39,981.00) $ 23,661,059.00 $ 140,832.00 Net cash from investing activities $ 63,177,638.00 $ 108,794.00 $ 47,937,862.00 $ 16,664.00 Net cash from financing activities $ (84,071,065.00) $ (117,327.00) $ (81,028,238.00) $ (83,606.00) Net increase or decrease in cash $ 101,668,703.00 $ 48,514.00 $ (9,529,317.00) $ 73,890.00 Table 7: Cash flow analysis Trend analysis: Figure 4: Trend analysis Cash flow ratio calculation: Name of the company Cash flow ratio (%) Gulf cement company[8] 0.86 National cement[9] -0.33 RAK cement[10] 0.15 Union cement[11] 1.38 Table 8: Cash flow ratio analysis Cash flow ration has been calculated as = Cash from operation/current liability[12] From the above table it can be seen that except for Union cement, all other companies including the Gulf cement company does not meet the industry average requirement of 1 for cash flow ratio. It indicates that the companies are not able to pay off their current debts out of the generated cash from operation within the same period. The company Gulf cement company received a F grade with respect to integrity and governance rating under the category of Online disclosures and transparency (Shareholder Rights 2017). Conclusion The main aim of the report is to measure the financial performance of Gulf Cement Company and to ascertain the financial position of the same. Based on the above analysis, it can be said that Gulf Cement Company has a mixed financial position. There are some areas where the company is doing well. On the other hand, there are some areas where the company yet to do well. For instance, as per the above discussion, it can be seen that the gross profit of the company has increased, but at the same time, the net profit of the company has creased. The operating and other incomes of the company have also decreased. On the other hand, the expenses of the company have increased. All these aspects have together affected the net profit of the company along with the earning per share and price of the shares. It has been seen that the earning per share and book value per share have decreased compared to the previous year. However, it can also been observed that Gulf Cement Company has an effective credit worthiness. The company has been able to repay a large amount of non-current liabilities and the debtors of the company have effective credit worthiness. Thus, based on the overall analysis, it can be said that the financial position of the company is not as effective as it needs to be. There is a strong need for financial strategies to revive the financial situation of the company. Recommendation: On evaluation of the financial statements and overview of Gulf Cement company it can be recommended that The company failed to disclose the information related to shareholders right and the policies regarding corporate governance, for example, code of ethics, annual report, financial statements, code of corporate governance and information related to executive and board management. Therefore, the company is recommended to mention these limitations to give the indications to stakeholders and shareholders. The company falls under the failing range as per the grading system as rating F implies a clear indication of failure. It shows the unacceptable performance, lack of interest/efforts that calls for great concern. It is strongly recommended that the company must convert its shareholders right and corporate governance related information into English language. After completion, the rated company can inform the details with any implemented changes with regard to improve their ratings. Some of the data related to the companys financial statement are reported in Arabic in their website. It is recommended to disclose the information in English to improve the rating. It is noticed that if the company would have recorded the information in English, their rating would have been D++ instead of F. References and Bibliography: 'Cement Industry - GCC' (https://www.i3c.in/whitepaper, 2017) https://www.i3c.in/whitepaper/Cement-Industry-Pitch-Book-GCC-May09.pdf accessed 3 February 2017 'Gross Profit Ratio (GP Ratio) - Definition, Explanation, Interpretation, Formula, Example - Accountingexplanation.Com' (Accountingexplanation.com, 2017) https://www.accountingexplanation.com/gross_profit_ratio.htm accessed 3 February 2017 'GulfCementCompanyPSC'(gulfcement.ae,2017)https://www.gulfcement.ae/uploads/annualreports/Management%20Report%20for%20the%20year%20ended%202015.pdf accessed 3 February 2017 'GULF CEMENT PRIVATE LIMITED - Company, Directors And Contact Details | Zauba Corp' (Zaubacorp.com, 2017) https://www.zaubacorp.com/company/GULF-CEMENT-PRIVATE-LIMITED/U26940DL2011PTC223871 accessed 3 February 2017 'Ishares MSCI UAE Capped ETF (UAE) Earnings Per Share' (NASDAQ.com, 2017) https://www.nasdaq.com/symbol/uae/eps-forecast accessed 3 February 2017 QatarNationalCementCompany1stedn,https://qatarcementcom/2017) https://qatarcement.com/eng/report/annual/QNCC%20ANNUAL%20REPORT%2015%20EN.pdf accessed 3 February 2017 Ras Al Khaimah Annual Report (1st edn, rakccae 2017) https://www.rakcc.ae/en/finance.htm accessed 3 February 2017 'Return On Sales (ROS)' (Readyratios.com, 2017) https://www.readyratios.com/reference/profitability/return_on_sales_ros.html accessed 3 February 2017 'The Power Of Cash Flow Ratios' (Journal of Accountancy, 2017) https://www.journalofaccountancy.com/issues/1998/oct/mills.html accessed 3 February 2017 UNION CEMENT COMPANY (PSC) AND SUBSIDIARY (1st edn, uccrakcom 2017) https://www.uccrak.com/ucc-yearly-2014-en.pdf accessed 3 February 2017 'GULF CEMENT PRIVATE LIMITED - Company, Directors And Contact Details | Zauba Corp' (Zaubacorp.com, 2017) https://www.zaubacorp.com/company/GULF-CEMENT-PRIVATE-LIMITED/U26940DL2011PTC223871 accessed 3 February 2017. GulfCementCompanyP.S.C'(https://www.gulfcement.ae/uploads/annualreports/,2017)https://www.gulfcement.ae/uploads/annualreports/Management%20Report%20for%20the%20year%20ended%202015.pdf accessed 3 February 2017. 'Cement Industry - GCC' (https://www.i3c.in/whitepaper, 2017) https://www.i3c.in/whitepaper/Cement-Industry-Pitch-Book-GCC-May09.pdf accessed 3 February 2017. 'Ishares MSCI UAE Capped ETF (UAE) Earnings Per Share' (NASDAQ.com, 2017) https://www.nasdaq.com/symbol/uae/eps-forecast accessed 3 February 2017. 'Return On Sales (ROS)' (Readyratios.com, 2017) https://www.readyratios.com/reference/profitability/return_on_sales_ros.html accessed 3 February 2017. as Al Khaimah Annual Report (1st edn, rakccae 2017) https://www.rakcc.ae/en/finance.htm accessed 3 February 2017. 'Gross Profit Ratio (GP Ratio) - Definition, Explanation, Interpretation, Formula, Example - Accountingexplanation.Com' (Accountingexplanation.com, 2017) https://www.accountingexplanation.com/gross_profit_ratio.htm accessed 3 February 2017. Gulf Cement' (Gulfcement.ae, 2017) https://www.gulfcement.ae/ accessed 3 February 2017. National Cement Company | Official Site' (Nationalcement.com, 2017) https://www.nationalcement.com/ accessed 3 February 2017. Welcome To Ras Al Khaimah Cement Company' (Rakcc.ae, 2017) https://www.rakcc.ae/ accessed 3 February 2017. Welcome To Union Cement Company' (Uccrak.com, 2017) https://www.uccrak.com/index.aspx.htm accessed 3 February 2017. The Power Of Cash Flow Ratios' (Journal of Accountancy, 2017) https://www.journalofaccountancy.com/issues/1998/oct/mills.html accessed 3 February 2017.

Toyota Competitive Strategies Essay Example

Toyota Competitive Strategies Paper Competitive  Strategy Asia-Pacific Marketing Federation Certified Professional Marketer Copyright Marketing Institute of Singapore Outline * Introduction * Sustainable  competitive  advantage (SCA) * Sources of SCA * Strategies for * Market Leaders * Challengers * Followers, and * Nichers Introduction Having a  competitive  advantage  is necessary for a firm to compete in the market * But what is more important is whether the  competitiveadvantage is sustainable * A firm must identify its position relative to the competition in the market * By knowing if it is a leader, challenger, follower or nicher, it can adopt appropriate strategies to compete Sustainable  Competitive  Advantage * A good strategist seeks not only to â€Å"win the hill, but hold on to it. †Ã‚  Ã‚  Subash Jain * Sustaining  competitive  advantage requires erecting barriers against the competition * Aakers suggested looking at the following: How you compete * Basis of competition * Where you compete * Whom you are competing against Examples of SCA * For many years, Singapore Airlines were riding on its SCA of having the best in-flight service * As more airlines improved their service and   narrowed the gap, SIA sought othercompetitive  advantages among which are * The most modern fleet * Outstanding Service on the Ground * A super entertainment system in its cabins * Comfort in its First Class cabins at an unparallel level * Discuss whether the later initiatives had been sustainable We will write a custom essay sample on Toyota Competitive Strategies specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Toyota Competitive Strategies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Toyota Competitive Strategies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Sun Tze’s defensive  strategy â€Å"Do not assume the enemy will not come but be prepared for his coming†¦ Do not presume he will not attack, but instead make your own position unassailable. † Sun Tze’s Offensive Strategies * Overt-offensive  strategy * To knock out a business rival so as to take over his company * To knock out a competing product so as to take over its market share * Covert-offensive  strategy * Keep as low a profile as possible while making offensive moves Strategies for Market Leaders Market Leader’s objectives: * Expand the total market by * Finding new users Creating new uses, and * Encouraging more usage * Protect its current market share by * Adopting defense strategies (see following slides) * Increase its market share * Note the relationship between market share and profitability Which  strategy  to use? Depends on your answer to the following: * Is it worth fighting? * Are you strong enough to fight? * How strong i s your defense? * Do you have any choice but to fight? Defense  Strategy * A market leader should generally adopt a defense  strategy * Six commonly used defense strategies * Position Defense * Mobile Defense Flanking Defense * Contraction Defense * Pre-emptive Defense * Counter-Offensive Defense Defense  Strategy  (cont’d) Position Defense * Least successful of the defense strategies * â€Å"A company attempting a fortress defense will find itself retreating from line after line of fortification into shrinking product markets. †Ã‚   Saunders (1987) * e. g. Mercedes was using a position defense  strategy  untilToyota  launched a frontal attack with its Lexus. Defense  Strategy  (cont’d) Mobile Defense * By market broadening and diversification * For marketing broadening, there is a need to Redefine the business (principle of objective), and * Focus efforts on the competition (the principle of mass) * e. g. Legend Holdings, the top China PC maker Legend has announced a joint venture with AOL to broaden its business to provide Internet services in the mainland Defense  Strategy  (cont’d) Flanking Defense: * Secondary markets (flanks) are the weaker areas and prone to being attacked * P ay attention to the flanks * e. g. San Miguel introduced a flanking brand in the Philippines, Gold Eagle, as a defense against APB’s Beerhausen Defense  Strategy  (cont’d) Contraction Defense * Withdraw from the most vulnerable segments and redirect resources to those that are more defendable * By planned contraction or strategic withdrawal * e. g. India’s TATA Group sold its soaps and detergents business units to Unilever in 1993 Defense  Strategy  (cont’d) Pre-emptive Defense * Detect potential attacks and attack the enemies first * Let it be known how it will retaliate * Product or brand proliferation is a form of pre-emptive defense e. g. Seiko has over 2,000 models Defense  Strategy  (cont’d) Counter-Offensive Defense Responding to competitors’ head-on attack by identifying the attacker’s weakness and then launch a counter attack * e. g. Toyota  launched the Lexus to respond to Mercedes attack Market Challenger Strategies The market challengers’ strategic objective is to gain market share and to become the leader eventually How? * By attacking the market leader * By attacking other firms of the same size * By attacking smaller firms Market Challenger Strategies (cont’d) Types of Attack Strategies * Frontal attack * Flank attack * Encirclement attack * Bypass attack * Guerrilla attack Frontal Attack * Seldom work  unless The challenger has sufficient fire-power (a 3:1 advantage) and staying power, and * The challenger has clear distinctive advantage(s) * e. g. Japanese and Korean firms launched frontal attacks in various ASPAC countries through quality, price and low cost Flank attack * Attack the enemy at its weak points or blind spots i. e. its flanks * Ideal for challenger who does not have sufficient resources * e. g. In the 1990s, Yaohan attacked Mitsukoshi and Seibu’s flanks by opening numerous stores in overseas markets Encirclement attack * Attack the enemy at many fronts at the same time Ideal for challenger having superior resources * e. g. Seiko attacked on fashion, features, user preferences and anything that might interest the consumer Bypass attack * By diversifying into unrelated products or markets neglected by the leader * Could overtake the leader by using new technologies * e. g. Pepsi use a bypass attack  strategy  against Coke in China by locating its bottling plants in the interior provinces Guerrilla attack * By launching small, intermittent hit-and-run attacks to harass and destabilize the leader * Usually use to precede a stronger attack e. g. airlines use short promotions to attack the national carriers especially when passenger loads in certain routes are low Which Attack  Strategy  should a Challenger Choose? Use a combination of several strategies to improve market share over time Market-Follower Strategies * Theodore Levitt in his article,  Ã¢â‚¬Å"Innovative Imitation†Ã‚  argued that a product imitation  strategy  might be just as profitable as a product innovation  strategy   Ã‚  Ã‚  Ã‚  e. g. Product innovationSony Product-imitationPanasonic Market-Follower Strategies (cont’d) Each follower tries to bring distinctive advantages to its target marketlocation, services, financing * Four broad follower strategies: * Counterfeiter (which is illegal) * Cloner e. g. the IBM PC clones * Imitator e. g. car manufacturers imitate the style of one another * Adapter e. g. many Japanese firms are excellent adapters initially before developing into challengers and eventually leaders Market-Nicher Strategies * Smaller firms can avoid larger firms by targeting smaller markets or niches that are of little or no interest to the larger firms   Ã‚  Ã‚  Ã‚  e. g. Logitechmice Microbrewersspecial beers Market-Nicher Strategies (cont’d) * Nichers must create niches, expand the niches and protect them * e. g. Nike constantly created new nichescycling, walking, hiking, cheerleading, etc * What is the major risk faced by nichers? * Market niche may be attacked by larger firms once they notice the niches are successful Multiple Niching â€Å"[A] firm should `stick to its niching’ but not necessarily to its niche. That is why multiple niching is preferable to single niching. By developing strength in two or more niches the company increases its chances for survival. † Philip Kotler

Oil essays

Oil essays The petroleum industry is no different than any other business. It exist to make money and will pursue any means to profit. Americans and other people of the world don't realize how much of an impact the petroleum industry has on the world economy. Most of us don't think twice or even once at the gas pump about where our money is going. We just grumble occasionally about the price, then pay and drive off until the tank hits empty, requiring us to return. For the past century the petroleum industry and the automobile industry have grown almost as one, industry dependent on each other in the pursuit of profits. According to Ecarta 97, Petroleum has been in use by man for centuries in the form of lubricants and medicinal products. The past century has seen an explosion of petroleum exploration to feed the combustion engine. The combustion engine is mainly used in the transportation industry, primarily automobiles. This century old technology has grown to the point where the world is dependent on the engine in daily living. Why does the world continue to hang on to such old technology that is destroying our world? The petroleum industry and automobile industry for years have believed that the worlds oil reserves would never run out. Only during the past few decades have the worlds industrial leaders realized that the worlds supply of petroleum is limited and that it is having an impact on the environment. Although environmentalist with Environmental Protection Agency(EPA) have recognized the problem, they have been slow to get strict standards passed through legislation. The EPA has helped by mandating more efficient cars that use less fuel and produce less pollution. The EPA and other agencies pushing for recycling petroleum products and cleaner fuel have also temporally slowed the effects of future shortages and pollution. But, we still havent solved the main problem: What can we u ...

The Triangle Shirtwaist Factory fire Essay Example | Topics and Well Written Essays - 750 words

The Triangle Shirtwaist Factory fire - Essay Example It seems like America has forgotten the lesson learned after the Triangle Shirtwaist Company fire. On March 25, 1911 right before the final whistle called for the end of the day a fire started on the 8th floor of the 23 Washington Place (Schneider). The Triangle Shirtwaist Factory occupied the 8th, 9th, and 10th floors of the building. After the fire started the 8th floor called the 10th floor to give them warning, but no one notified the 9th floor (Stein and Greider 182). The women on the 10th floor either escaped through an elevator or up the stairwell to the roof. The people on the 8th floor went down the stairwell or through the elevator. An elevator ran for a little while to the floors , but soon the cables melted (Drehle 153). Soon people were opening the elevator shaft and jumping to get away from the flames. Women were also jumping out the 9th floor windows as well. The 9th floor girls were trapped due to a locked stairwell that was supposed to prevent theft† (Greenwald 62). As the factory burned people gathered on the street watching the women jump. Fire trucks did not have the water or the ladders to reach the 8th floor. The devastation of human life was enormous. Lives were lost due to an antitheft measure. After the fire workers cried for new safety measures. â€Å"The 146 lives lost in the fire ignited. ... If women tried to strike they were considered bad. â€Å"They were either ‘good’ girls who listened docilely to fathers, employers, and policemen, or ‘bad’ women whose aggressive behavior made them akin to prostitutes† (Orleck 62). Even if the women at Triangle would have protested the unsafe locked doors, it would have been up to management to open them. One of the owners probably would not have listened. Max Blanck was caught locking doors again in 1913; he was only fined $20 (Hoeing). There was a need for the creation of OSHA and unions. Although the Triangle fire was 100 years ago, many lessons can still be learned from the tragedy. However Americans are forgetting about this tragedy and other workplace accidents. Unions are being outlawed by our own congresses. Instead of worrying about lives, the legislators are more interested in budget shortfalls. â€Å"Yet a century later, the laws that could have saved lives had they been in place on March 25, 1911, are being threatened by budget cuts proposed by a Republican-controlled Congressâ€Å" (Schneider). Unions have come to stand for pay raises and benefits. What about the safety issues? It seems like safety issues seem to be a moot discussion. The most famous anti-union legislation is against teachers in Wisconsin. It might seem like a good idea to cut the budget, but what could the possible outcomes be? Teachers might decided to go to different states that still have unions. That could mean the best teachers would leave. If the best teachers leave, then what would the children of Wisconsin be learning? The consequences could reach for generations. Without the union what happens if principals decided to make the teachers work in unsafe conditions?

Southwest Air lines Assignment Example | Topics and Well Written Essays - 250 words

Southwest Air lines - Assignment Example People are empowered to make their own decisions at their level of authority, which gives Southwest Airlines the needed flexibility to battle it out with the competition in real time. It can be best described as an ambidextrous learning organization where the culture provides for a fun place environment that serves as a motivation for employees to render excellent service, who are treated as business partners. A strong bond is encouraged among employees (Lauer 30), who readily help each other when needed. Overall culture at Southwest is competitive, despite being a fun workplace, because management offers its employees attractive incentive plans and bonuses based on a pay-for-performance scheme that requires total commitment (passion) and employee buy-in. The leadership in Southwest Airlines is characterized by a strong commitment to its corporate objectives and a passion for rendering outstanding customer service. Its leadership is both inspirational and transformative but does not compromise service quality. Its leaders are viewed as smart, verbally adept, honest and have personable dispositions (Robbins