Strategic Financial Management Essay Example | Topics and Well Written Essays - 2000 words

Strategic Financial Management - Essay Example The operating margin and operating profit stood at 7.7% and  £115.6million respectively compared with 8.3% and  £111.3million respectively in the same period last year. The Company has taken on an extra five-year bank facility with Handelsbanken, hoping to increase their overall facilities to  £740 million (Yahoo Finance) Without profit, a firm would be unable to attract outside capital. That is why I identified the profitability ratios as the most efficient and effective way to evaluate the financial performance of the Wetherspoons Company. The profitability measures enable me to evaluate the company’s profits in relation to the level of assets, or owners’ investment as stipulated in the company’s financial statements. I looked into statements dating back from 2010 to 2014. I calculated Return on Capital Employed (RECE) by determining the ratio between the operating capital and the capital employed. This helped me know how well the firm utilizes the capital employed. In 2014, the Return on Capital Employed (RECE) for the company was 12.94%, as compared to 11.83% in 2013.It means that the company has had a steady increase on its return on capital employed thus showing that the Company keeps on improving its’ utilization of capital employed. To begin with, I established the Gross profit margin by determining the ratio between gross profit and net sales. The gross profit of the firm in 2014 was  £79.4m, compared to  £76.9m in 2013, which translates into a 3.1% increase in profit. This growth in gross profit margin serves as a good indicator that J D Wetherspoon firm is progressing well and promises good returns on investment. The decrease in the net profit margin of J D Wetherspoon can be attributed to external forces such as taxes. I established the assets turnover by determining the ratio between sales revenue and total assets to find out how efficiently J D Wetherspoon

How to become a good manager Essay Example for Free

How to become a good manager Essay 1- What are the advantages and disadvantages of nuclear family? A main advantage of the nuclear family is that a couple has ultimate privacy. Nuclear families incur less stress and trouble when moving into a new home. There is a specific sense of freedom that gives a nuclear family the ability to live life as they wish. It is also easier to avoid stress. A disadvantage is that children are left to take care of themselves. Another disadvantage is that the feeling of safety and security is lacking. There is also not much of a support system. 2- What are the advantages and disadvantages of extended family? Extended families are families where three or more generations are living in the same house. Usually, that means that the grandparents are living with their children and grandchildren. Research has shown that there are several advantages to living in extended families. Extended families are very important in countries where there is no social security net. Extended families help prevent elderly people from becoming poor. Another advantage is that the grandparents can look after the children. During the day, the grandparents watch the children to make sure that they are ok. And they also talk to the children when the parents are busy. This helps the children learn their language. And since the children are well taken care of, both of the parents are free to work on the farm or earn money in jobs. Disadvantages. Sometimes you have no privacy because there are so many members. They can also cause conflict and problems, meddling in other family members problems. While it is advantageous when you have a problem to have other members around to help, sharing other family members problems can also become burdensome on other members so that you not only have your own problems to worry about, but those of your extended family. 3- What are the advantages and disadvantages of polygamous family? Advantages of polygamy can be that stereotypical female roles can be shared. That means that children get more attention, house work is done quicker and also  that if a woman in a polygamous relationship wants to work outside the home, she can without worrying whether or not strangers are raising her child. Disadvantages can occur when people start to think they have ownership over each other and get jealous. Other disadvantages may be that as a wife gets older she can be replaced with a better younger woman. She may feel neglected as her time has passed, but monetarily she should still be taken care of and she still has her place in the family. 4- What are the advantages and disadvantages of arranged marriage? Advantages: Your parents know you personally from birth to raising you your whole life so they best know your dispositions and personality and how you cope with others and all that good stuff. When they look for someone for you, they look out for people who best fit your mold and not someone whom you might be enticed by from some few qualities that turn out to be not so great later on. Also, usually arranged marriages occur w/in close communities so people will know each other well from childhood and in that case, people really do know each other, including those getting married and they are strangers. In Islam also, parents not only look for good personal qualities but also good spiritual qualities in how good they are with their religion and so forth. The person getting married also can refuse any person their parent chooses as he/she has no compulsion to marry anyone he/she doesnt like or doesnt think he/she will like. Finally, although a non-Muslim wouldnt consider it anything, Muslim stress a lot on prayer and that Allah leads them in the right direction to the right match and steer them away from a bad choice. Disadvantages: You dont necessarily know the person so love attraction may take some time. Something which is really bad not b/c of the institution itself but more b/c of various cultural influences on peoples personal agendas or essentially, when parents arent looking out for their children but their own needs. They may have personal prejudices against people who look some way or against people of a certain status and while Islam states that a true Muslim looks  past these things and only spirituality matters, not all parents are good Muslims and some are better South Asians than Muslims and are quite superficial. These kind of parents also dont give much thought to spirituality either so it could be a woman who wears tight clothing or a man who drinks and womanizes. 5- What are the advantages and disadvantages of love marriage? Advantages of Love Marriage One of the most important advantage of love marriage is that it gives you the freedom to choose your own life partner and love marriage offers more independence and freedom to live your life. In love marriage both individuals feel more secured and comfortable as they know each other well and are also aware of strengths and weakness of each other. And they do not find any difficulty or anything new in their life after their marriage. Love marriage has a bright chances of success because it occurs from mutual attraction, love and understanding of individuals. It is not an artificially created union as in an arranged marriage. Love marriage gives your life excitement and peace of mind. You have a life partner of your choice with whom you can go to different places, enjoy your vacations, watch sports events and you’ll see all these things will look more lovely when you have your love with you Disadvantages of Love Marriage In spite of advantages there are certain disadvantages of love marriage. Those individuals who go for love marriages usually don’t get family support and even in some cases their relatives do not approve of their marriage. In love marriage both bride and groom have more expectations from each which can ruin their happiness in coming future as unmet expectations are a major cause of conflict in love marriages. The worst drawback of love marriage is an early break up, as both individuals who were in love with each other before the marriage feel lack of freedom from their families. Love marriages are successful only if a person is chosen wisely but man such marriages are not a result of any careful deliberation or insight but raging hormones. So, as a result there is mismatch between life’s goals and aspirations of the two individuals, which after some time becomes a cause of friction and eventually leads to divorce. Thus it is most important to decide to get married to a person who loves you more than you love that person 8- Why do  we need to study about Asian Culture? If you look at the countries that form the Asian continent, they are as diverse and fascinating as you can get. The continent includes giant nations like China, India and Turkey and is home to historically-rich countries like Japan, Korea and the Philippines. The Middle East is an area rich in culture and natural resources, and is the theological homeland for all three of the worlds largest religions, which are found in this area. In fact, Asia is the birthplace of most of the worlds religious and philosophical thought. As far as culture is concerned, there is nowhere more fascinating and diverse on earth. From the mountain-tops of Tibet to the sand dunes of Saudi Arabia, Asia is home to a host of really important cultures. 9-What are the advantages and disadvantages of city living? There are many advantages living in a city. Living in a city is very convenient. There ara many important things for life such as cloths, furniture and health care here. There are better choices because there are more shops. We can also choose an expensive or cheap things that suit to our budget. Living in a city can makes chances of getting a proper education because we can go to a better school, colleges or universities. Most of the good and famous universities are situated in big cities. It is also easier to find chances of getting a good job and of course a good salary if you choose to live in a big city. A big city has more opportunity to find job with good salary as there are many companies, corporations and businesses. The facilities are also good. During emergency, we do not have to be transferred to other hospital as we need only short time to get to the hospital. In addition, living in city, we can enjoy the best entertainment. There are many entertainment for our family. Furthermore, we can also enjoy many kinds of food as there are many restaurants in city. The public transportations in city are always better than the one that we have in the rural area. We can choose transport like busses, LRT or monorail which the rural area does not have. These will reduce our expenses.

Duties and responsibilities of a cabin crew

Duties and responsibilities of a cabin crew IN-FLIGHT MODULE Cabin crew is primarily aboard an aircraft for the safety and welfare of the passengers and for their comfort. If there were no services of food or drink during a flight, there would still have to be a minimum presence of cabin crew for safety, which is a legal requirement. (essence-learning.com, 2014) The role can be physically and emotionally demanding. Cabin crew are expected to deal with all passengers diplomatically, even when feeling the effects of travelling through time zones and spending extended periods of time on their feet. (targetjobs, 2014) Some of these roles include supplying passengers with newspapers, magazines and in-flight amusement, checking the state and provision of emergency equipment and information for passengers, demonstrating emergency equipment and safety procedures administering first aid and dealing with emergencies, greeting passengers as they board and exit the plane, showing passengers to their seats and providing special attention to certain passengers, such as the elderly or disabled and producing written flight reports after completing a journey. (targetjobs, 2014) As cabin crew, their responsibilities are to greet the passengers as they board the aircraft, direct them to their seats and ensure that the entire luggage is safety stored away in the overhead cabins. Once all the passengers are on board then the cabin crew demonstrate the emergency procedures whilst the plane is preparing for takeoff. During a flight thecrew membersassist passengers, make calls on behalf of the captain, serve food, drinks and sell duty free goods. (essence-learning.com, 2014) In case of emergencies, cabin crews are there to reassure passengers so that they follow the correct emergency procedures. The crew may have to deal with several emergencies such as cabin fires or first aid situations. At the end of a flight cabincrew membersare there to make sure that passengers disembark the aircraft safely. Thecrew membersare then asked to complete a written report that records all details of the flight. (Essence-Learning.com, 2014) Cabin crew also make periodic announcements to passengers about flight conditions and arrival times. They also make sure that passengers with special needs are cared for in an appropriate manner. (anon, 2014) The chain of command on any aircraft is; Captain First officer Cabin Manager Flight Attendant The overall responsibility for the safe operation of an aircraft and the safety of its passengers lies with the Captain, but you as operating crew are responsible to the Captain in being capable through your flight attendant training to be able to fulfill your safety responsibilities. (flight-attendant-careers.com, 2014) Within the cabin crew job market, airlines employ a vast number of people into cabin crew support roles. These support positions provide a great way to gain cabin crew experience, and learn about how the airline industry works. (cabincrew.com, 2014) Many airport-based ground staff performs these support roles. Jobs in the industry which fall into the category of cabin crew support include crew planning, crew control, human resources and crew training. There is a great deal of planning and scheduling work that goes into flights, so administration staff will be on hand to assist at pre-flight briefings, ensuring air cabin crew are being correctly assigned their working positions, and understand any changes to how the flight will be managed. (cabincrew.com, 2014) Airlines frequently use codes in the form of abbreviated words or letters. This list covers some of the most frequently used words. The following computer codes are used in messages from airlines: CHNT – Change Name To ETA – Estimated Time of Arrival FLTFO – Flight Info HTL Hotel MCO – Miscellaneous Charge Order NOSH – No show OW One-way PNR – Passenger Name Record RCFM Reconfirm SPAV – Space Available SSR – Special Service Request TKT Ticket WCHR Wheel Chair FLY Finley in Australia EVE Evenes in Norway TOY Toyama in Japan DAY Dayton in Ohio, United States NYC New York City AVML – Asian Vegetarian Meal BBML – Infant/ Baby Food CHML – Child Meal DBML – Diabetic Meal FPML – Fruit Platter Meal SFML – Seafood Meal Types of duties cabin crew may have to undertake cabin crew seat and working position; roster duty example stand-by duty. There are two types of standby, Home reserve and Airport reserve. Home reserve means that you are on standby at home ready to take a call on your mobile phone or landline from flight scheduling that may assign you a flight or upgrade your status to field reserve. Field Reserve on the other hand, means that you are on standby but in the flight operations building at the airport with your flight handbag, trolley and suitcase, ready to be assigned any flight that needs to be covered. Duties before the pre-flight briefing include, checking roster and updates, check health, safety and security notices, check flight details (crew names, crew positions, departure gate, and aircraft registration. Importance of time keeping prior to a pre-flight briefing: to be prepared; consequences of late arrival example cabin crew offloaded from other flights, late departure of aircraft, disciplinary action. (anon, 2014) Elements of a pre-flight briefing include introduction to the crew, operating positions and responsibilities, uniform standards checked, aircraft information, health, safety and security memos, updates and notices read and understood, order of bar, meal and duty-free service and Safety and Emergency Procedures (SEP) scenario questions. (anon, 2014) Elements of post-flight briefing include reconciliation paperwork for bars and monies handed in, flight paperwork completed and filed example cabin defects reported and flight evaluation. (anon, 2014) Receive and relay safety equipment and procedures (SEP) during a pre-flight briefing include respond to Safety and Emergency Procedures (SEP) scenario questions example safety, security, in-flight medical care, location of emergency equipment, respond in a timely manner, with composure and professional attitude. (anon, 2014) Complete documentation relating to a pre-flight briefing in readiness for the flight include flight detail form (crew names and signatures, rest and duty hour, number of crew bags, equipment and security checks completed), toilet servicing form. (anon, 2014) The importance of timekeeping includes, being prepared, consequences of late arrival example offloading of crew, late departure of aircraft. Personal presentation: on and off duty and during stopovers, uniform standards, dress code for training and stopovers, adhering to grooming standards, professionalism, personal appearance, importance example creating a positive organizational image, maintaining organizational standards. (anon, 2014) Importance of task management and prioritization of tasks include routine and non-routine tasks, prioritize tasks in order of importance, and prioritize tasks in order of legal and regulatory requirements. (anon, 2014) Customer relationship management: following company procedures and industry standards; providing excellent customer service; ensuring passenger welfare; importance example to keep customers, to reward loyal customers, to attract new customers. (anon, 2014) References http://www.flight-attendant-careers.com/flight-attendant-training.html http://www.essence-learning.com/blog/duties-and-responsibilities-of-a-cabin-crew http://targetjobs.co.uk/careers-advice/job-descriptions/277171-airline-cabin-crew-job-description http://www.nationsonline.org/oneworld/airport_code.htm http://www.edexcel.com/migrationdocuments/BTEC%20Specialist%20Qualifications/BA025387-BTEC-L2-Introduction-to-Cabin-Crew-spec.pdf

Albania Essay -- essays research papers

Albania: The Development of a Developing Country Albania, a small country located in Southeastern Europe, is a nation that does not have a true identity – its people are Muslim and Christian, it is a country that is both and poor, it is as much urban as it is rural, and has evolved from monarchy to socialism and now to fledgling democracy. In other words, Albania and its people have seen it all. The extremes of Albanian society are vivid, and underlying tensions are evident. But Albania is not â€Å"another Yugoslavia† – there is no doubt that the internal environment of Albania has been and somewhat continues to be tense, although the breaking point has never been fully reached. Albania is a country with a fervently tense past (especially during the Cold War era), yet many people do not know about it, and few would be able to find the country on the map. Despite its beautiful during, its plentiful natural resources, and its extraordinary tradition of hospitality, Albania has always been â€Å"the most isolate d country in Europe and from World War II until very recently, one of the most isolated countries on earth† (â€Å"Real Adventures – Albania† 1). Amongst the booming economies of Europe, Albania is markedly poor, and is trying to make the difficult transition to a more modern open-market economy. In addition, the government is taking steps to encourage economic growth as well as trade. Albania, according to 2003 estimates, â€Å"has a GDP of $16.13 billion, with a per capita GDP of $4,500† (â€Å"Albania – CIA Factbook† 2) This is an improvement over the Cold War era, in which Albania’s economy was a complete disaster – still, however, Albania’s economy is considerably weak compared to its European neighbors. The economy is helped by â€Å"remittances from people abroad of $400-$600 million annually, mostly from Greece and Italy, and this money helps lower the sizable trade deficit† (â€Å"Real Adventures – Albania† 1). Agriculture, which accounts for half of Albania’s GDP, is frequently stifled because of recurring drought and the burden of having to modern ize their equipment and trying to make use of sparse land. What also complicates economic matters is that there have been severe energy shortages, and old-fashioned and highly inadequate infrastructure makes it difficult to attract large-scale foreign investment, which accounts for 18.7 % of Albania’s GDP (according to 2003 estimates... ...r† (Clunies 133). Homelessness and hunger are higher now than under the Communists Communications. Meanwhile, protests in Albania continued, leading to the removal of several hard-line Communists from the government and party Politburo.   Ã‚  Ã‚  Ã‚  Ã‚  Despite its isolation for decades and its ruling by a repressive regime that denied them their most elementary rights, the Albanians have undergone significant cultural, social, and economic transformations; they are no longer â€Å"a largely uneducated peasant education, characterized by a clan mentality, as often portrayed by the Western media† (Clunies 149). The majority of the Albanians evidently recognize that national reconciliation, a major aspect of the program of the Democratic Party, is the best way for the successful revival of their poverty-stricken country. Albania is endowed with considerable mineral resources and has a young, dynamic population, eager to join the rest of the world. Now as it enters the post dictatorship phase, it desperately needs the assistance and friendship of the outside world. Without that assistance, Albania’s fledgling democracy may be doomed for failure before it even begins to grow.

Introduction to sales promotions Essay

Today, sales promotions are a key feature of the retail trade. There are many ways in which a business can sell and a sales promotion is just one aspect of marketing goods or services. The specific product which I have decided to base this assignment on is ‘Coca-Cola’s’ 2- litre bottle of coke. I thought that it might be interesting to investigate the sales promotions of ‘Coca-Cola’ as they are a business which has provided many since they were first founded by John Pemberton till now. ‘Coca-Cola’ ‘Coca-Cola’ was invented on 8th May 1886 by John Pemberton in Atlanta, Georgia. John Pemberton’s bookkeeper, Frank Robinson, came up with the name ‘Coca-Cola’ and designed the logo. The drink was first sold at Jacobs’s pharmacy. The fact of all this which I find most interesting, is the fact that during the first year, sales of ‘Coca-Cola’ averaged nine drinks a day, adding up to a total of i 50 for that year. Today, products of The Coca-Cola Company are consumed at the rate of more than one billion drinks per day in around 200 countries. The media is a powerful source of mainly advertising, which uses traditional methods of mass communication, e. g. newspapers, magazines, TV and radio. Being the very successful and most recognized brand that ‘Coca – Cola’ is, they can afford to promote their products by all means of media. I believe that the second most important method for ‘Coca – Cola’ to promote their products is on billboards. A vast majority of the population drive vehicles and will occasionally drive past billboards which are trying to advertise or promote a product. The sales promotion which I have chosen for my 2 – litre bottle of coke has been seen by me on billboards and TV. Television is by far, the most beneficial way to advertise or promote a product due to the large numbers which happily watch TV in the comfort of their own home, or perhaps somewhere else. The sales promotion: * Buy 2 bottles of coke and receive a free ‘Coca – Cola’, FIFA world cup glass; Is mainly seen being promoted on television as ‘Coca – Cola’ realise that if they want to find customers, television is the best possible way as we’ve already looked at. The media is a strong way of helping many businesses, such as ‘Coca -Cola’ to advertise a promotion. Once a customer sees what they can save, or in this case, gain, they will then be tempted to purchase that product. ‘Coca – Cola’ is the proud sponsor of the FIFA world cup, 2006 in Germany. When people see ‘Coca – Cola’ associating with the FIFA world cup, this will lure them further to increase the probability of them purchasing products. ‘Coca – Coca’ are frequently seen advertising promotions by all possible means of media but my chosen sales promotion for ‘Coca – Cola’ has only been seen by me on billboards and TV. When ‘Coca – Cola’ do advertise, they try to aim their products at a target audience, but who might that target audience be? Target audience To sustain a businesses successfulness, you need to be fairly smart and ‘Coca – Cola’ have proved more than that in the method they have decided to use to identify their target audience. Even tough it is stated that half the world’s population have at least tasted coke, the main target audience is said to have no real gender and is age ranged between 18 – 34. Even tough there is no real gender, the majority of people who do consume coke are said to be male. Men and boys aged between 14 – 34 are very likely to be watching the world cup and with ‘Coca – Cola’ being the sponsor and offering a free ‘Coca – Cola’, world cup glass, they just can’t say no. I presume that their main idea is to have their target audience picturing themselves watching the world cup and drinking coke out of the free glass before they actually purchase it. Deciding the Style This stage in the success of a sales promotion must link with the format of the promotion and be compatible with its aims. The business may offer a saving or a free item with purchase. This item could be linked with a specific target audience. The sales promotion; * Buy 2 bottles of coke and receive a free ‘Coca – Cola’, FIFA world cup glass; is targeted at men and boys aged roughly between 14-34. The reason for the gender is because men and boys are more likely than woman to be watching football. The colours and design of the sales promotion needs to correspond with the world cup yet it needs to do the same with the target audience. An informal event like a fun day will have informal materials and ‘jazzy’ notices in bright and attractive colours. This is because a fun day is aimed at younger children and this will be the more inviting approach in terms of attraction. The sales promotion which I am investigating has frequently been seen by myself on various occasions, billboards mostly. The colours are that of the flag of Germany, the host of the FIFA world cup. It is also combined with masculine and neutral colours for the seriousness and honour of the world cup. Men will take this event seriously and as ‘Coca-Cola’ knows this, they are one step ahead. The main point of all the media and format of the business is to sustain the high level of work and to overall, be consistent. ‘Coca-Cola’ are consistent and a key fact which thoroughly proves this is the fact that they are the most recognised brand in the world. Key messages The key message for a business, will depend upon what they wish there intended outcome to be of the promotion and who they wish to aim it at. ‘Coca-Cola’ as an industrial business with a promotion has a main purpose which is to sell more goods or to provide information about their products. This can either be done online or perhaps on their packaging. Key messages over the past many years have proven most affective through a slogan. ‘Coca-Cola’ change theirs to suit the packaging in relation to the offer or perhaps an event. This attracts more customers with the sense of a key message. An example could concern a sales clearance with big headings and bold lettering to point out the offer or the key message. The key message for the sales that I am investigating is that the world cup is on and that it’s a time for celebration. ‘Cola-Cola’ is now loved by almost everyone. It is drunk by almost every non-alcoholic drinker and is also drunk by people who consume alcohol as well. Key messages for ‘Coca-Cola’ have clearly worked and if you just take a look at their sales, you’ll see just how much they have worked. Consumer Law Consumer legislation should be a key issue to any one who owns a business and wishes to advertise or promote a product. All business must make sacrifices by selling products at a cheaper price or perhaps they can produce a sales promotion to catch the eye of the customer who may perhaps be interested. All these examples provide the intended consumers a thing called consumer law which gives them rights to that product or service which the business may be providing. The rights protect them from the business providing them with faulty goods or perhaps a service which does not meet their needs. They also, however, give rights to retailers from the consumer ‘throwing’ wrong accusations at them concerning any of their products or services. The buyer may complain that the price of a product is priced too high or perhaps they may wish to complain otherwise. If the consumer makes a false accusation, they can be penalized by means of consumer law. Consumer protection legislation One act which is an example of how ‘Coca – Cola’ put across their product is the; ‘Consumer Protection Act 1987. ‘ This act relates to mainly price and safety. Under this act it is an offence for ‘Coca – Cola’ to * Mislead customers as to the price of any item – The average price for a 2-litre bottle of coke costs zero to nothing to produce but is sold for a maximum of i 1. 50. Customers do not look at the issue like this. Even if they do, they bear in mind that the business needs to make money and see i 1. 50 as a reasonable price. They always have remained with this price and it will be very rare that Coca – Cola are misleading their customers where prices are concerned. * Mislead consumers over sale prices and exaggerate price reductions – Coca – Cola are not the type of business which you will see exaggerating a price reduction on any of their products. If they were to have a price reduction, they would have one without any mislead false claims concerning the prices.

Portraiture and the Conversation Piece essays

Portraiture and the Conversation Piece essays Much painting had been done in England by a handful of native artists well into the eighteenth century, although it was foreign artists that had dominated the market for paintings. British artists could not form a style that was original and one they could call their own, thus they were seldom admired. In the early eighteenth century British aristocrats usually employed foreign artists to do their portraits. It was not until William Hogarth, local artwork would be noticed. He promoted distinct British traditions to his artwork and became the first native artist to be known on an international scale. He paved the way for future artists that would come to follow him. By the mid-eighteenth century it became fashionable to have paintings done by British artists, instead of foreign painters. It was not only popular, it showed that the owner of the painting had taste. Hogarth was not only noted for his portraiture, but was responsible for popularising a new form of portraiture cal led the conversion piece. The conversation piece was a step back from the formal portraiture, but gained widespread interest all over England. In this essay I would like to examine the two forms of artwork that were most popular during the eighteenth century, portraiture and the conversation piece. To observe the two forms a bit closer I will compare two pieces by a well-known British painter, Thomas Gainsborough, one of a portraiture and one of a conversation piece. Lets begin by taking a closer look at portraiture. What is portraiture? According to Websters Dictionary, a portrait can be defined as the likeness of a person, painted, drawn or engraved; commonly, a representation of the human face painted from real life. What this is saying is that portraitures are paintings or drawings of the human figure. During the eighteenth century only the upper class could have their portraits done by the most prestigious artists, these were usual...