Fast Food Business Plan

My business plan is to open a franchise of little Caesars in Jackson Heights, Queens NY. First let’s look at the fast food industry as a whole. History of the industry The concept of fast food is inspired by ancient Rome, in which bread and wine were sold in street-side stalls. In early 20th century In the United States, fast food history is associated with the introduction of drive-in restaurants. Since then, US industry of fast food has come a long way to become the largest fast food industry in the world. One of the pioneers of this field is White Castle, was founded in Kansas, in 1921, one of the major names when it comes to the American fast food sector. In 1930's, the American fast food industry achieved yet another milestone – when Howard Johnson's introduced the concept of franchising restaurants in the United States. NAICS Code and industry Description According to NAICS Fast food restaurant 722211, â€Å"The restaurant industry comprises establishments primarily engaged in providing food services (except snack and nonalcoholic beverage bars) where patrons generally order or select items and pay before eating. Food and drink may be consumed on premises, taken out, or delivered to the customer’s location. Some establishments in this industry may provide these food services in combination with selling alcoholic beverages†. (Census) Growth of Industry Since 1982, consumers starting spent more on fast food as compare to table service restaurant, according to figures this annual growth rate turns into 6. 8% as compare to 4. 7% growth rate through 1997. This amount increased from 29. 3 to 34. 2 % between 1982 and 1997, while the restaurant proportion decreased from 41 to 35. 7 percent. As per a research of â€Å"US Fast Food Market Outlook 2010†, despite the growing concerns such as rising health consciousness and increasing incidences of obesity in the US population the US fast food industry has been witnessing impressive growth for the past few years. This research shows that during the economic down fall it was the only industry that benefited as people have changed their food habits from spending more money on dinning outside at restaurants to fast food products. It was expected that the fast food market will grow at a CAGR of around 5% during 2009-2011. . (Mark) According to the restaurant association in 2010 sales of restaurant industry are $580 billion; these restaurants are located over 945,000 locations, having 12. 7 million employees (one of the largest private-sector employers) across United States of America. Here are some more facts about restaurant industry: * $1. 6 billion: Restaurant-industry sales on a typical day in 2010. * $2,698: Average household expenditure for food away from home in 2008. * 40 percent of adults agree that purchasing meals from restaurants and take-out and delivery places makes them more productive in their day-to-day life. 73 percent of adults say they try to eat healthier now at restaurants than they did two years ago. * 57 percent of adults say they are likely to make a restaurant choice based on how much a restaurant supports charitable activities and the local community. * 78 percent of adults say they would like to receive restaurant gift cards or certificates on gift occasions. * 52 percent of adults say they would be more likely to patronize a restaurant if it offered a customer loyalty and reward program. 57 percent of adults say they are likely to make a restaurant choice based on how much a restaurant supports charitable activities and the local community. * 56 percent of adults say they are more likely to visit a restaurant that offers food grown or raised in an organic or environmentally friendly way. * 78 percent of adults agree that going out to a restaurant with family or friends gives them an opportunity to socialize and is a better way to make use of their leisure time than cooking and cleaning up. National restaurant association-1) In New York restaurant industry is a major source of power in the state’s economy. This industry has key contribution to tax revenues. Restaurant industry is providing jobs to thousands of people; it is becoming an emerging career option to people. They are giving the people nutritious and healthy Manu options to their customers. Re staurant industry is dedicated to protect their environment in these 4 areas, and to reduce their impact on the environment in four key areas: * profitability and entrepreneurship, * jobs and careers, * food and healthy living, and sustainability and social responsibility According to the restaurant association â€Å"New York alone has more than 38,596 eating and drinking places, with a projection to register $ 29 billion sales in 2010. In New York in restaurant industry there are 673,800 employments. Here are some more important facts that contribute in the restaurant industry in state’s economy: * New York’s restaurants generate an additional $. 98 in sales for the state economy against every $1. * In New York’s eating and drinking places generates an additional 23. 4 jobs in state against every extra $1 million. The restaurant job ratio of in New York is 8 percent of employment. * By 2020 this It is expected that this industry will be able to reach 10. 4% jo b growth. (National restaurant association-2) According to Construction Forecasts News & Analysis One of the major factors of fast food industry’s popularity is that they offer low and affordable prices with lots of other benefits together, despite the fact that this industry like other industries of world is face up to lots of problems one like rising prices of energy and food. However it is not been completely overcome the price hike issue. At the same time the hazards of fast food are now becoming well known and add to it another major threat to fast food industry is the increase of the number of good dinners. From the past year’s experience it is expected from the fast food industry to charge a bit more from the full service restaurant as the customer focuses on the dinners special and values. According to FDA figures â€Å"Quick service restaurants are projected to post sales of $164. 8 billion in 2010, a gain of 3. 0 percent over 2009. Sales at full-service restaurants are projected to reach $184. 2 billion in 2010, an increase of 1. 2 percent in current dollars over 2009† †. It is been expected from the eating-and-drinking place segment increase by 4. 5% to show the strongest growth in 2010. This is expected from fast food industry among all commercial industry segments that the strongest growth is in retail-host restaurants with a 4. 9 percent sales increase (this segment includes the food places located in gas/service stations and drug and grocery stores). (FDA-1) A big highlight of fast food industry is the availability of meals that meet a person’s requirements. This gives a sigh of relief to those parents or partners who have to travel between work and home for a big part of the day. With a lot of variety of delicacies like fish and chips, vegetarian and non-vegetarian burgers and pizzas are served with complimentary alcohol and carbonated drinks at many of these fast food restaurants. Though accessories like coleslaw, baked potatoes and mushy peas gives the solution to have vegetables in meals but the intake of fried food is making the new age child far from the balanced diet. There are lots and lots of varieties of fast food chains like Subway, Burger King, McDonald’s, Pret-a-Manger and Pizza Hut accommodate the demands for seafood, lean meat, special diet meal components, and other considerable regional variations. Experiments within the fast food industry had created new products like snacks such as sandwiches and baguettes. Fast food industry is also fulfilling the customer’s demand of dry of semi-dry meals which the customer can cook those meals in their own kitchen with less amount of time. Most fast food restaurants are now combining different style of food which is related to different cultures. This industry now flourishes on international appeal promoted by niche chains. At many outlets and drive-ins, the customers can see the food being prepared, so that they can be satisfy that the food they are going to have in that fast food restaurant is completely safe and made in hygienic conditions. Unvarying menus, special traded marks and a unique atmosphere can be observed at these take-away services and sit-ins all over the world. Eat-on-the-go is another unique style of fast food which just not removes the need for traditional cutlery, but also provides the choice to the customers to treat their foods in their own traditional or cultural style in their own selected atmosphere. The common menus include pitas, fried chicken, nuggets and tacos, served along with complimentary salads and breads. The fast food industry is now operating independent vendors. These venders have set standardized cooking, and production methods, and easy availability of low-cost delicacies. In 2009 because of the economic fall the restaurant industry also lost jobs. Regardless of the losses, the industry is still outperforming the national economy, and job growth is expected to resume in 2010. Still this industry remains one of the nation's largest private sector employers with its 12. million employees. By 2020, the industry is expected to employ 14 million more people with an increase of 1. 3 million jobs. Colorado is expected to post the strongest sales growth in 2010 at 2. 9 percent (2010 industry sales of $8. 7 billion), followed by Idaho at 2. 8 percent ($1. 6 billion). Forecasted to post growth of 2. 7 percent: New Jersey ($12. 8 billion), New York ($29. 0 billion), North Car olina ($12. 8 billion) and Texas ($34. 8 billion). The top states by restaurant sales volume in 2009 will be California at $58. 0 billion (2. percent growth); Texas at $34. 8 billion (2. 7 percent growth); New York at $29. 0 billion (2. 7 percent growth); Florida at $27. 6 billion (2. 4 percent growth); and Illinois at $18. 7 billion (1. 9 percent growth). In American from last few years people are been converted in to fast food choices . as in 1970, the Americans spent a total of $6 billion on fast food – the same am the same amount increased to $110 billion by 2000. According to the fast food industry statistics, this industry experienced an overall growth of 4. 8 percent in 2006 alone. Mark D) Even though, economically we are still in resection but expectations look quite positive from this industry. The following table looks at the forecast PE ratios of some of the company’s competitors: (Stock Market review) Market Share According to the stock market analysis the top players of this industry are McDonald’s, Yum! Brand, Wendy’s/Arby’s, Starbucks, Burger king, and Doctors Assoc/Subway, the following chart shows the market share of selected competitors: Company| Revenues (M)| Net Income (M)| Net Margin| Restaurants| Franchised %| McDonald's (MCD)| $22,745| $4,551| 20. %| 32,478| 81%| Yum! Brands (YUM)| $10,836| $1,083| 10. 0%| 37,000| | Starbuck’s (SBUX)| $9,775| $391| 4. 0%| 16,635| 47%| | | | | | | | | | | | | Wendy's International (WEN)| $3,581| $4| 0. 1%| 6,451| 80%| Burger King Holdings (BKC)| $2,537| $200| 7. 9%| 11,925| 88%| | | | | | | | | | | | | | | | | | | Data from company FY 2009 annual reports (CKE data from FY annual, ended January 31, 2010). (Stock Market review-1) Although from the above figure it is very obvious that McDonald’s has a clear edge over all his competitors, but still this industry is the best example of perfect competition. In economic theory,  perfect competition  describes markets such that no participants are large enough to have the market power  to set the price of a homogeneous product. Because the conditions for perfect competition are strict, there are few if any perfectly competitive markets. Still, buyers and sellers in some auction-type markets say for commodities  or some financial assets may approximate the concept. Perfect competition serves as a benchmark against which to measure real-life and imperfectly competitive markets†. (Michael R. Baye) Profitability of the industry under perfect competition As I said fast food industry is an example of perfect competition market, so the question is how much control an individual company has to determine the price or decide the profit margin? To answer this question we need to look at the theoretical concept of economic, as per the economic concept; â€Å"In contrast to a monopoly  or oligopoly, it is impossible for a firm in perfect competition to earn economic profits  in the long run, which is to say that a firm cannot make any more money than is necessary to cover its economic costs. In order not to misinterpret this zero-long-run-profits thesis, it must be remembered that the term ‘profit' is also used in other ways. Neoclassical theory defines profit as what is left of revenue after all costs have been subtracted, including normal interest on capital plus the normal excess over it required to cover risk, and normal salary for managerial activity. Classical economist’s on the contrary defined profit as what is left after subtracting costs except interest and risk coverage; thus, if one leaves aside risk coverage for simplicity, the neoclassical zero-long-run-profit thesis would be re-expressed in classical parlance as profits coinciding with interest in the long period, i. e. the rate of profit tending to coincide with the rate of interest. Profits in the classical meaning do not tend to disappear in the long period but tend to normal profit. With this terminology, if a firm is earning abnormal profit in the short term, this will act as a trigger for other firms to enter the market. As other firms enter the market the market supply curve will shift out causing prices to fall. Existing firms will react to this lower price by adjusting their capital stock downward. This adjustment will cause their marginal cost to shift to the left causing the market supply curve to shift inward. However, the net effect of entry by new firms and adjustment by existing firms will be to shift the supply curve outward. The market price will be driven down until all firms are earning normal profit only†. (Michael R. Baye-1) It is important to note that perfect competition is a sufficient condition for allocate and productive efficiency, but it is not a necessary condition. In perfect competition if a company want to control price in the market it is important for the company to get involve in some kind of merger activities which give the company some extra powers over pricing a good example of such an activity is to bound the suppliers in some kind of contracts and restricting then to supply their products to your competitors. As we have seen this industry is growing with every passing year, so let’s discuss some of the marketing plan for the business in general the marketing plan for Little Caesars Pizza analyzes the company’s present state, the environment in which the company is competing in, and projections for the upcoming year. As a new location for the current franchise owners in a severely competitive market, many solutions will be offered to help Little Caesars Pizza advance in its market share locally here in Jackson Heights, Queens NY. We will build on the main corporate vision of Little Caesars Pizza, which is â€Å"To be the best take-home pizza chain by exceeding customer expectations with extraordinary value, great tasting products, and outstanding people while providing strong returns to our stakeholders† (â€Å"Little Caesars Pizza – Franchise Opportunities: About Us† 2011). A set of goals have been organized, all of which will contribute to the success of this franchise location in the upcoming years. We analyze its strengths and weaknesses that this particular Little Caesars Pizza is facing in its current atmosphere. The strengths including quality customer service through family owned franchises, constantly expanding into new markets and quality products are essential to it and must continually be emphasized throughout the organization. Other opportunities are laid out that must be taken advantage of for growth to occur. After analyzing and averaging data of current operations we have calculated projected gross sales to be around $382,225. 00. Expenses and taxes would be taken from this to reach a net income for the year. The organizational structure of the Little Caesars Enterprises is quite structured. The family oriented atmosphere that it continues to impose in its franchises help develop a more personable relationship with its customers and develop a strong and healthy work environment. Little Caesars is an industry leader and will continue to grow in its current operations. Strategic Plan/ Focus The following portion demonstrates four aspects of Little Caesars Pizza’s business strategy influencing in our marketing plan. (1) The mission/vision, (2) goals, (3) core competence/sustainable competitive advantage, and (4) Corporate Philosophy of Little Caesars Pizza. 1 – Mission/Vision The mission of Little Caesars Pizza is, as described on the corporate web-site: â€Å"To be the best take-home pizza chain by exceeding customer expectations with extraordinary value, great tasting products, and outstanding people while providing strong returns to our stakeholders† (â€Å"Little Caesars Pizza – Franchise Opportunities: About Us† 2006). The Radford Manager agrees that they follow the corporate mission statement and use it as a model in day to day operations. 2 – Goals Little Caesars Pizza maintains a strong focus on value, great tasting pizza, and convenience. †¢ Financial Goals To make enough profit to exceed the initial start-up cost of the franchise. * To minimize expenses while still offering premium ingredients and customer service. * To increase sales by 10% from the first year of operation through promotion and customer service. †¢ Non-Financial Goals * To uphold the corporate mission/vision. * To obtain a good reputation m ainly from the student population as getting their money’s worth and holding a good customer relationship while maintaining outstanding customer service. * To create and maintain a happy and healthy work environment – Core Competencies and Sustainable Competitive Advantage When discussing Little Caesars Pizza’s core competency, there are two main objectives it seeks to achieve: (1) Supply convenient high-quality, competitively priced, pizza to the community’s population. (2) To deliver the pizza products in a timely manner with exceptional customer service. To transform these core competencies into a sustainable competitive advantage, Little Caesars will maintain quality relationships with its suppliers while continuing to emphasize customer service to employees. – Corporate Philosophy At the heart of Little Caesars Pizza’s philosophy is a profound commitment to give back to the communities that sustain its business. Little Caesars Pizza and its franchisees are devoted to numerous organizations throughout the United States. One of the most significant programs Little Caesars has founded is a nationally recognized program called the Love Kitchen, a pizza restaurant on wheels, and was established in 1985 by Little Caesars founders to feed the homeless and hungry in the United States and Canada. Since its start, the Love Kitchen has fed more than 1. 5 million people in need. In addition to visiting soup kitchens and homeless shelters, the Love Kitchen also responds to disasters, including the recent hurricanes in the Gulf Coast area, the site of the World Trade Center attacks on September 11, 2001, and the Alfred P. Murrah Federal Building bombing in Oklahoma City in 1995. The Little Caesars Love Kitchen has received presidential declaration from the Reagan, Bush and Clinton Administrations, as well as a certificate of appreciation from the State of Michigan. Its franchisees support the Love Kitchen by providing food and labor for servings in their markets. There are no fees associated with the Love Kitchen for the driver, the vehicle, or fuel. Franchisees find it very rewarding to support the Love Kitchen in their communities. (â€Å"Little Caesars Pizza – Franchise Opportunities: Philosophy†, 2011) Target Markets The primary target market for Little Caesars Pizza is middle and low income families who desire to pay a low amount of money for a large portion of food to feed their family members. The secondary market consists of students who have little or no income and rely on part-time jobs or money from elsewhere to fund their food budget. Points of Difference The â€Å"points of difference† that differentiates the company from its competitors fall into three important areas: †¢ Superior Ingredients. Little Caesars uses superior ingredients and offers a variety of foods which includes sandwiches and side items. Compared to other pizza places that only focuses on one product which is pizza. †¢ Family Owned Environment. The owners of the Little Caesars Pizza value customer service and satisfaction and emphasize this to its employees. †¢ Affordability. The fast food industry provides a variety of cheap menu items which makes it affordable to many people. Positioning In the past, pizza products have been either fast but lacked quality or focused on quality but was time consuming, but not both. Little Caesars Pizza combines these two desirable characteristics to obtain a positioning in consumers’ minds as fast and high quality pizza, which allows customers to order them fresh out of the oven and tasty (Little Caesar Enterprises, Inc. 2011). Marketing Program The four marketing elements that are used by Little Caesars are explained in detail below. The promotion strategy is the most evident with the Hot-N-Ready deal that it offer. Product Strategy Little Caesars is known for its pepperoni and cheese pizzas being readily available whenever you want. It also offer different crust styles, bread products, wings, sandwiches, and salads. Little Caesars emphasizes its use of only the finest ingredients to serve the highest quality products to its customers that are expecting more for their money. Product Line Online menu: Original Round Pizza-(12†, 14†, 16†,* 18†*) Deep Dish Pizza-(medium or large) Pizza by the Slice-(cheese or pepperoni) Baby PAN! PAN! -(two individual-sized deep dish pizzas w/ cheese and pepperoni) Crazy Bread-(8 sticks, topped with butter, garlic, and Parmesan cheese) Crazy Sauce-(Little Caesars exclusive tomato sauce) Italian Cheese Bread-(bread covered with melted cheese topped w/ Italian spices) Caesar Wings-(Hot, medium, or mild chick wings: 5, 10, 20, 30 pieces) Caesar Sandwiches*-(Italian, Ham and Cheese, Tuna) Salads-(Greek, Tossed, ; Antipasto w/ choice of dressing: individual ; family) Toppings: extra cheese, pepperoni, Italian sausage, ham, beef topping, green pepper, onion, black olive, mushroom, bacon, pineapple, banana pepper rings, tomato, and anchovies Typical Menu: Cheese only 1st pizza 2nd pizza Toppings 12† medium $7. 49 $6. 00 $0. 75 each 14† large $9. 49 $7. 00 $1. 00 each 16† x-large $11. 49 $8. 00 $1. 25 each Specialty Pizzas: Meat sauce, Veggie, Supreme, Pepperoni 1st pizza 2nd pizza 12† Medium $9. 49 $6. 00 14† Large $12. 49 $7. 00 16† X-Large $15. 49 $8. 00 Stuffed Crust: additional $2. 0 for any size pizza (Mozzarella Stuffed Crust) Additional Items: Wings (BBQ, Italian, Hot) $0. 40/each Crazy Bread and Sauce $2. 49 Slices (Pepperoni or Cheese) $1. 59 Soft Drinks (20 oz / 2-Ltr) $1. 09/ $1. 99 Coke, Diet Coke, Sprite, Dasani Unique Product Quality. Mentioned earlier, Little Caesars uses the best ingredients to serve its customers the h ighest quality products. The dough that it uses is always fresh which uses flour that is specially milled every day. Its special blends of cheeses are never frozen and it also uses the vine-ripened tomatoes to make the sauce, along with Little Caesars’ secret blend of spices. Packaging. Little Caesars uses its boxes to advertise its number one promotion. The pizza boxes are covered with the Hot-N-Ready logo. You can also find a few coupons on the box to be cut out and used. This helps bring its customers back by reminding them of the great deals Little Caesars’ offer every time its customer goes back for another piece of pizza. Price Strategy Affordability is Little Caesars number one price strategy. Its most recognized price strategy, as mentioned before, is the Hot-N-Ready pizzas for five dollars. This is its main price strategy however it also offers deals on the second pizza that you order at a set price. Little Caesars tries to make its food more desirable through price creating the attitude that you can get more for your money with convenience and great taste. Promotion Strategy The promotion strategy that Little Caesars has is primarily the Hot-N-Ready pizzas for five dollars. By having the Hot-N-Ready offer, it attracts many families that need a sufficient meal quick and cheap. Instead of delivering these pizzas, Little Caesars wants to make its customers experience a more personal approach by having its customers pick up their pizzas. This helps the customers build a relationship with Little Caesars and keeps them coming back for more, which other companies lack by using the delivery service. This company does a great thing for families; with pizza being such a hot commodity these days, it is offering great convenience for little money (Little Caesar Enterprises, Inc. , 2011). Little Caesars also has certain promotions like Family Fun Pack, where Hasbro has combined with Little Caesars to have a drawing for four Hasbro games and one Family Pizza Party. It also offers sports deals for the sports fans. Little Caesars focuses on cheap and convenient food and achieve this with all its promotions. Little Caesars expectation of growth comes from its strategic planning and development. These strategies will be shown in the opening of more franchises and the spreading of its innovative promotional tactics; most recently the Hot-N-Ready slogan. This slogan is meant to aim towards value-oriented markets and focus on the quality of the Little Caesars product. Implementing these strategies of quality, freshness, and including price; with their $5 pizza deal, will help the company increase revenues, broaden its market, and grow as a company. The local Little Caesars in Radford should focus on implementing more advertising and low-cost student discounts. As the only advertising they do now is done all by corporate as part of the franchise, no additional campaign is done on the owners’ behalf. Also it should consider the delivery option due to the main target market locally is students, due to the lack of ability of and/or willingness of students to pick-up their own pizza. This poses a big problem with the local Little Caesars because competitors like Highlander’s and Mike’s Pizza are providing a good product with convenience of free delivery. Marketing on Campus with flyers and coupons should be a focus as well as to obtain recognition of the students. Most students do not go through catalogs or look online for food deals; they simply use what is given to them and what they know. Work cited Census: U. S. Census Bureau code and description of industry 2007, retrieved on 03-30-2011 http://www. census. gov/cgi-bin+/sssd/naics/naicsrch FDA-1: According to FDA figures â€Å"Quick service restaurants are projected to post sales of $164. 8 billion in 2010, a gain of 3. 0 percent over 2009. Retrieved on 03-31-2011 from http://www. da. gov/food/ FDA-2: According to the FD;C Act is protected through episodic unannounced inspections of facilities and products, educational activities, analysis of samples, and legal proceedings. Retrieved on 03-31-2011 from http://www. fda. gov/food/ FDA-3: According to FD;C local governments inspect restaurants, fast food spots and similar outlets, U. S. State and Local Governments is doing an impor tant role in these federal efforts, state and local governments are extremely active in the food inspection. Retrieved on 03-31-2011from http://www. fda. gov/food/ FDA-4: According to FDA Trend Analysis Report on the Occurrence of Food borne Illness Risk Factors in Selected Institutional Foodservice, Restaurant, and Retail Food Store Facility Types (1998-2008). Data items Showing Statistically Significant Improvement in fast food industry. Retrieved on 03-31-2011 http://www. fda. gov/food/labelingnutrition/default. htm FDA-5: According to FDA Trend Analysis Report on the Occurrence of Food borne Illness Risk Factors in Selected Institutional Foodservice, Restaurant, and Retail Food Store Facility Types (1998-2008). Percentage of observations found in compliance for each risk factor. Retrieved on 03-31-2011 http://www. fda. gov/food/labelingnutrition/default. htm Hoover: According to construction forecasts, take information from Hoovers Retrieved on 04-02-2011, from www. hoovers. com Hoover-1: According to construction forecasts, take information from Hoovers Retrieved on 04-02-2011, from www. hoovers. com Mark: According to Causes and Consequences of Fast Food Sales Growth written by Mark D. Jekanowski, Retrieved on 03-15-2011 www. econ. ag. gov Mark D: According to Causes and Consequences of Fast Food Sales Growth written by Mark D. Jekanowski, retrieved on 03-15-2011 www. con. ag. gov Michael R. Baye: According to Managerial Economics and the Business Strategy 7e, Retrieved on 04-02-2011. Michael R. Baye-1: According to Managerial Economics and the Business Strategy 7e, Retrieved on 04-02-2011. National restaurant association-1: According to the restaurant association in 2010 sales of restaurant industry are $580 billion; these restaurants are located over 945 ,000 locations, having 12. 7 million employees (one of the largest private-sector employers) across United States of America. Retrieved on 03-28-2011 from http://www. restaurant. rg National restaurant association-2: According to the restaurant association â€Å"New York alone has more than 38,596 eating and drinking places, with a projection to register $ 29 billion sales in 2010. Retrieved on03-28-2011 from http://www. restaurant. org/pdfs/research/state/newyork. pdf Stock Market review: According to the stock market analysis, the forecast of future growth rate of top companies in the industry. Retrieved on 04-05-2011 from http://www. stockmarketsreview. com/recommendations/mcdonalds_report_20101115_59520/ Stock Market review-1: According to the stock market analysis, the market share of top companies in the industry. Retrieved on 04-05-2011 from http://www. stockmarketsreview. com/recommendations/mcdonalds_report_20101115_59520/ Franchising. Com: http://www. franchising. com/littlecaesarspizza/? p=press;id=165 Hoovers: http://www. hoovers. com/free/co/factsheet. xhtml? COID=59853;cm_ven=PAID;c m_cat=BUS;cm_pla=CO1;cm_ite=Ilitch_Holdings Little Caesars Pizza – Franchise Opportunities: About Us. 2011: http://franchise. littlecaesars. com/STEP1Research/MissionStatement/tabid/60/Defaul t. aspx.

Women Are Better Than Men

Women are Better than Men English Research Paper Regina Erica T. Varilla January 25, 2012 Introduction As to the talk of gender superiority, it is clear that history had given men the advantage. For the past several millennia, men had worn the crown of authority, seated upon the highest seat of honor, and wielded the mighty arm of power. For all those years, women had no chance but to fall under power, to live a life of service and obedience, and to remain invisible, oppressed and inferior. Times change, however, and along with modernization came a tsunami of altercation.Riding on top of those powerful waves, with full control of the situation, are women. Research and statistics have proven that women are rapidly gaining dominion of almost every good aspect in life. In academics, for example, girls are receiving most of the awards and positions, including the top rankings and extra-curricular activities such as the yearbook and the student journal. Even in fields wherein men are know n to be specialized in, women are now thriving. In jobs, statistics show that the jobless rates for men are sky-rocketing while the jobless rates for women are going to an all-time low.Simply put, this means that men are being put out of commission while women are flourishing. More and more women are now standing up from their previous position of kneeling at the feet of men. Recently in India, 285 girls shed â€Å"unwanted† names. In Africa, 49% of the parliament is now composed of women. A revolution is happening, and this is proof of it. Scope This research paper covers the comparison between men and women at the subjects of physical weakness, emotional weakness, Biblical origins, safe driving, and the ability to survive in society, including academic ability, ndurance, and independence. Objective The main objective of this research paper is to prove women’s superiority in most aspects, especially in this generation. Other aspects include: * To empower women more * To show the true potential of women * To prove to society that this is an era for women * To bring about a reformation * To end the debate over gender superiority for all time * To end discrimination on women * To let the world see the multiple values of women in humankind Significance of Study This research paper strives to prove the superiority of women over men as multiple evidences prove.Due to a long history of males being the superior gender, society has failed to see entirely the concept that a new era has come, and along with it, another call for change; a change which demands society to remove the blindfold of habitual ways and to accept the world with its new leaders: Women First and foremost, his research paper will affect women in the sense that they will hopefully see and understand that humanity, even though it may not yet fully realize it, has already accepted them as the new superpowers, and that the world is ready for their taking.They just have to stand and have th e confidence, which hopefully shall be further strengthened by this collection of data, to rule supreme, as they are made to be. This research paper shall help empower other women to face the world without fear, knowing that the circumstances are favorably on their side. The contents of this research paper shall also affect men, though in a different approach. It shall be an eye-opener for them who believe in women being the inferior gender, and hopefully make them see that women are no longer the weaklings they previously thought women are.As for those who are not subject to such beliefs, this shall also affect them due to the huge probability of men being overrun soon, and may be required to find a way to save themselves in the near future. Another group of people predicted to find interest in this paper shall be the feminists. By showing that women are steadily growing into power and seating themselves in chairs of authority, it is then proved that these feminists’ efforts were not in vain. On the contrary, they have worked exceedingly well.If the citizens change, then it is mandatory for the government shall evolve with them. It may not be long before majority of the cabinet members become women, and perhaps even sooner, the head of the country itself. Women in history have always worked behind the scenes. As the quotation â€Å"History repeats itself† tells us, the reign of women in the field of politics will no doubt be much less scandalous than present. The workforce of the country may also be severely infected. Businesses up until now have preferred men over women.Modern machinery, however, have tipped the balance of the scale. With the need of physical strength no longer in play, women now have a fair or perhaps an even better chance at jobs than men. It can be estimated that at the late 21st century, women shall be the expected breadwinner of the family. Body Physical Weakness When it comes to the battle of the sexes, the subject of phy sical vulnerability can never be ignored. People generally have this misconception where in girls are the weaker gender between the two. It is a misconception, because they are not the weaker gender at all.They cannot be blamed for having this wrong idea, as boys have more cerebrospinal fluid (protects skull from damage) and are more fitting to receive painful blows. The medical journal Plastic and Reconstructive Surgery even stated that women have 34 nerve fibers per square centimeter of facial skin, while men only have 17 nerve fibers per square centimeter of facial skin. Also, according to a 2008 report from the University of Georgia in Athens, boys have a more advanced pain suppressing circuit that is less effectively wired in women.Thus, it cannot be denied that girls still experience more pain in their lifetime. A few more examples are giving birth, having menstruation, and possessing more weak spots. Furthermore, these pains come naturally to them, as opposed to boys, wherein the fights they get into are purely their decision. They know it, but chose to ignore this fact. Men, however, do not have knowledge of one of women’s secret weapons, that is, estrogen. In 2002, researchers at the University of Michigan have proven that high levels of estrogen mean at least equal or higher pain tolerance than men.This can be extremely useful during menstruation, pregnancy, and even child birth. Estrogen, however, is not the only weapon that womankind has. All those ear piercings, body waxing and high heeled shoes must have hurt very much, and since a girl is not on her period all the time, then it must not only be estrogen at work. According to a professor from Columbia University, research has shown that the more a person notices pain, the more it is amplified. Since women are willing to go through such pains for extensive periods of time, they have gotten used these pain signals.Not long after, the brain will start ignoring these signals, leading to better pain tolerance. Over time, women can develop this endurance to surpass that of men’s. Emotional Weakness Both genders experience emotional and psychological letdowns. The difference between how they react, however, is extremely huge. Thanks to Hollywood, women are generally mistaken as the weaker gender. This holds absolutely no truth at all. Research has proven that both men and women experience the same depression and vulnerability during an emotional letdown. What differs, however, is how they let the stress out of their systems.According to SAGE, women tend to turn to social circles, thus their depression is observed and understood, while men tend to confine themselves and avoid any social contact, leading to a build-up of even more stress and depression due to being hidden and misunderstood. This is disastrous for men as the loss of socialization is the cause of the problem in the first place, and may resort to drugs, drinking, and violence just to â€Å"numb† th e feeling off. This then may lead to crime, resulting to a higher crime rate for men, and a chain of events and statistics. Survival in the SocietyA tradition that goes back in time is the thinking that males are the breadwinner of the family. The reason for this is in ancient history, when food is mainly acquired from hunting, needing attributes like developed muscles and huge bone structures. This task is best fitted for men. Modern times, however, has a different sort of battlefield. The difference in the demand for physical strength between then and now is vast. During the past millennia, physical labor is extremely high. In this modernized world, however, equal or even greater strength can be achieved through the press of only a few buttons.The industrial era of today involves intelligence and skill, both attributes being thoroughly honed by women to make up for the lack of strength. One reason for these differences is the different composition of the male and female brains. Sc ientists at the University of Pennsylvania’s Brain Behavior Laboratory found out that although the females’ brains are on average 11% smaller than males’, they still have more grey matter (used for processing information). Males have more white matter (fat-covered long fibers that transmit electrical impulses) and cerebrospinal fluid (acts as buffer from the skull).This may mean that women are designed to have certain advantages in processing information and men are designed to have quicker reflexes and more solid protection for physical blows. Other factors responsible for the female brain boost maybe the higher rate of blood flow to certain parts of the brain and again, estrogen levels. According to Dr. Legato, author of Why Men Never Remember and Women Never Forget, the part of the brain that controls languages in females receive more nutrition, therefore making it easier for women to recall what they have heard or read.This may explain the ability of women t o socialize and to manage conversation well, and possibly the exceptional ability of data interpretation. As for estrogen, he had said that it activates a larger field of neurons in a woman’s brain, so they experience stress in a more accurate way, even when only reliving the memory. Proofs of females having superior academic abilities are already cropping up. According to a report from CBSNews, boys are falling behind as girls tend to outshine them. Peter Badalment, principal of Hanover High School in Massachusetts, said that girls took home almost all the honors for nearly the past decade.Once again, it was a girl who became valedictorian, the latest of a nine-year-streak. In the school’s advanced placement classes (equivalent of a cream section or a star section), majority (about 70%-80%) of the students comprise of girls, even in the field of Math, which is the section boys used to dominate. He also stated that in AP biology, there were no boys around at all. Also according to Badalment, 3 out of 4 class leadership positions belong to girls. Not only are they achieving in class, they are also the leaders of extracurricular activities and clubs such as the National Honor Society and the batch’s yearbook.Even in college, campuses get more qualified women applicants. Women now comprise nearly 60% of the campus student body, earning 170,000 more degrees It is not only in the field of academics that women are proving to be much more efficient, but also in getting high paying jobs. When comparing charts for jobless rates from the Bureau of Labor Statistics and Haver Analytics, it is clear that the trend for jobless men is rising, while the trend for jobless women is plunging. If this trend persists, it will mean that in the future, there will be more working women than working men.The possibility of having a â€Å"househusband† may be hovering before humanity in the near future. Driving It is common knowledge that cars and driving ski lls are â€Å"a boy thing†. This, however, does not mean that they do it well; this battle is, as the common saying goes, â€Å"quality versus quantity†. Although men are generally known to drive more, women are found to drive safer. Statistics show that on percentage basis, men have about 5% more violations than women. Reckless driving tops the list, with men’s violations more than 340% than that of women’s.DUI (Driving Under Influence or Drunk Driving) and Seatbelt violations are next in line, also more than 300% in ratio than the violations of women. Reports does not make it easier for men, as it say that women, for one, tend to survive in accidents more often, and two, they make less damage to the vehicles, as confirmed by many auto insurance industry experts. Biblical Origins It is commonly repeated by anti-feminists that God created men first, then the woman, out of the man, as it states in Genesis 2:22(KJV Bible) clearly: â€Å"And the rib, which the LORD God had taken from man, made he a woman†.This, however, is not a mark of superiority; there simply has to be a filtering process first. It is just like the process involved in producing white sugar. The raw material comes in the form of sugar canes. These are just like the mud used to form man. They are useful, but in a different, less significant way when compared to their output products. These canes are then crushed and processed until they become brown sugar, coarse and as the name indicates, brown. This is man, as first made by God. They are crude sketches. This brown sugar is further processed and refined. The end result shall be white sugar.This white sugar is, at last, women. Being â€Å"refined†, they are finer, improved, and much more preferred. Another common mistake made by the general public is the misconception of the word ‘sons’. In old times, ‘son’ can refer to 2 definitions. The first defines the word as ‘male ch ild’; the second defines the word as ‘human offspring’, with no particular gender involved. It is, therefore, of no substantial argument. Summary and Conclusion To put it simply, women are scientifically and statistically proven to be the greater gender. Physical and emotional weaknesses have fewer tolls upon women.The lack of physical strength has been overcome by technological advances. There are no shortages to brain power, and independence has been steadily growing for the past few decades. With all these facts and data supporting the side of women, it is clear that the battle has been won. Modernization has proved an invaluable friend, having provided women access to fields they have never been allowed to step upon before. Now that they are at those fields, they are proving good at it. It is simple to predict that in a few decades’ time, women will have taken over completely. BibliographyAbrams, Dan. Man Down. USA: Abrams Imagery Animated. 2011 Belkin , Lisa. â€Å"Preferring Girls Over Boys†. The New York Times. February 25, 2010 [email  protected] com â€Å"Preference for Sons on the Wane†. April 29, 2011. http://English. chosun. com/site/data/html_dir/2011/04/29/2011042901189. html â€Å"How Sugar is Made† http://www. sucrose. com KJV Bible Kohn, David. â€Å"The Gender Gap†. CBNNews. February 11, 2009. http://www. cbsnews. com/stories/2002/10/31/60minutes/main527678. shtml Lazarus, Clifford N. PhD. â€Å"Why Women Are the Superior Gender†. Think Well. February 2, 2011 Lee, Yonson and Beth Mowry. Gender Differences in Emplyment Statistics†. http://www. clecelandfed. org/research/trends/2008/0508/04ecoact. cfm Lewin, Tamar. â€Å"At Colleges, Women are Leaving Men in the Dust†. The New York Times. July 9, 2006 Mackey, Maureen. â€Å"Who Remembers What? †. Reader’s Digest. March 2008. http://www. rd. com/family/who-remembers-what. html Mulrine, Anna. â€Å"Are Boys the Weaker Sex? †. Reader’s Digest. Hong Kong: Reader’s Digest Association Far East. October 2002. â€Å"Sugar Production From Sugar Cane â€Å". http://www. itdg. org/docs/technical_information_service/sugar_production_from_cane. pdf

Benefits of Sustainability Driven Innovation

Monitoring system is effective for an organization to understand whether they are following the proper method or taking the right steps to achieve the goal that have been set by the organization (Werbach, 2013). The indicators in the monitoring system can be pared to the factors that will help in understanding whether the motoring system is helping the organization to understand whether they are fooling the right path. The monitoring system should be able to measure the output that will reflect the strategies that have been set by the organization (Ferguson & Souza, 2016). The monitoring system will be able to identify the main problem that will be faced by an organization while they are operating in the market. The monitoring system needs to be iodated regularly so that the employers can keep a track of the changes that are taking place in the organization. The monitoring system should be user-friendly so that the management can easily use it. The employees should not need any extra training to operate it. The pany should not have to bear any cost to run the monitoring system. Even if they have to bear any cost, then the system should be cost-effective enough so that they do not have to plan any extra expenditure to implement the monitoring system. Not only the monitoring system but also the indicators should be effective so that the monitoring system will be helpful to identify the strength and weakness of the organization (Sloan, Klingenberg & Rider, 2013). The indicators should be relevant. The indicators should be able to show the things that the organization need to know. The indicators should be easy to understand. The employees should be needing any extra training to understand the meaning of the indicators. The organization should not have to hire any expert to understand the indicators. The employees of the organization as well as the employer should be able to trust the indicators. The indicators should be reliable and highlight the correct data needed by the organization. Any wrong information given by the indicators will take the organization in some other direction. The indicators should not be consisting of those data that cannot be accessed by the people of the organization. The data should be accessible that wil l make up the indicators. The organization should have the time to act if the indicators show something is wrong. Indicators cannot be called effective if that does not give time for the employees and the employer to make things right after they have noticed something wrong. Rio Tinto needs a proper management system mainly because of two reasons. They have to go up the dunphy scale. Secondly, to go up the dunphy scale, they have need funds that could help them to implement more sustainable measures. The indicators of the monitoring system that will measure the actions of Rio Tinto should keep in mind the profit as well as sustainability to help them go up the Dunphy’s scale. They need to keep a check on the profit to see that whether their steps are enhancing the business. They need to keep a check on the employee engagement and so that there is balance between the urban employees and the aboriginal employees. The certifications by the external organization are necessary as they will help them to spread their goodwill gestures and help them acquire more clients and finances for their business. The Dunphy’s scale is the best way to measure whether the business of an organization is sustainable enough. Rio Tinto has taken many measure towards sustainable development if the business. Some are directed towards the environment while some are socio-cultural in nature (Beckmann, Hielscher & Pies, 2014). They have taken steps to make help the aboriginal as a many parts of the land that are possessed by the aboriginals are being used by the organization for mining purpose (Riotinto , 2017). Following is the Dunphy’s scale: The sustainable development of Rio Tinto is worth mentioning and they aim at developing a socio-cultural development of the society. They help in development of the aboriginals who are living in the area and working with the organization (Sidiropoulos, 2014). The aboriginal were ill-treated when in the year, 1963 when the Mapoon mission was closed even after the discovery of bauxite reserve in the year, 1955. The contribution of the indigenous people like Old Matthew (Wakmatha) and George Wilson (Piiramu) was not overlooked after the mission was halted. Six years down the lane after the incident took palce, tio tinto is workimnh in close contact with the aboriginals. Some of the agreements that have helped in the partnership of Rio Tinto and the aboriginals are: Status of Rio Tinto is at the ‘efficiency’ stage of the Dunphy’s scale. The human sustainability is stresses upon in the efficiency stage of the Dunphy’s scale. Rio Tinto aims at development with the help of the aboriginals (Riotinto , 2017). The ratio of the aboriginals who are working for the organization is not in balance with the area that is being used for the operations of the pany. 60 percent of the land that are under the aboriginals are used to get the minerals but only 6 percent of the population are involved in the workforce. The place is hugely exploited by Rio Tinto to mine the metals and hence, it is necessary that the workforce should have more aboriginals. Even though Rio Tinto is planning to incorporate for aboriginals in their business, yet they are unable to find a way that will help in reducing the exploitation of the environment. The main aim of involving the aboriginals in their program is to take their help to get an idea for land rehabilitation program. The idea of land rehabilitation is in the pipeline and the involvement of the aboriginals will be helpful as they could tell the ways to restore nature even after mining the land to extract the metals and the minerals. Rio Tinto can be said to be in the efficiency phase as they are not able to implement any such idea to restore the land but the discussions are still on to get such an idea. They are employing the aboriginal, which is a good step but they are not able to employ a huge number of people. The aboriginals should be employed in huge numbers as they are exploiting their land and they have the best idea about the land (Buxel, Esenduran & Griffin, 2015). The main aim of every organization should be to reach phase six of the scale but the phase six, which is the sustaining corporation phase. However, the phase has been considered to be too abstract and is not possible in reality (Kiron   et al., 2013). The employer would then be left with minimum profit to support the employees who are working in the organization (Sharma & Hart, 2014). Hence, Rio Tinto should aim at reaching phase 5, which is the strategic sustainability phase. The organization should have diversity at workplace by balancing the workforce (Wagner & Svensson, 2014). There should be equal number of aboriginals and urban employees. The aboriginals do not receive proper training and specific skills to get employment. Hence, it will be the duty of Rio Tinto to educate the people and help them get a job in the organization. They do receive preliminary education but the skills that are needed for mining jobs. It is the duty of the organization to teach the aboriginals about the mining techniques and help them get a job. In this way, they will be able to attain the strategic sustainability phase. The organization has been able to witness a reduction of 30% in the indigenous turnover. Environmental concerns, which is another area that should be taken into consideration (Sloan, Klingenberg & Rider, 2013). If more number of aboriginal populations is employed in the organization, they will be able to know the ways that will help them save the land of t he aboriginals even after mining is done (Werbach, 2013). Rio Tinto is a British-Australian multinational mining pany with its headquarters in London, United Kingdom (Riotinto , 2017). The pany consisted of Rio Tinto Plc, which is a London and New York stock exchange pany and Rio Tinto Limited, which is an Australian Securities Exchange. The business of Rio Tinto is based on four factors: They aim at finding the mineral resources and deliver them to the customers and the clients. They value the shareholders of the pany and work to deliver the best returns with the help of the assets of the pany and projects that they take up for the clients. As far as the workforce is concerned, Rio Tinto possesses 55,000 employees. The operations of the organization are spread in 40 countries and the employees work in strong teams. The organization always follows the motto of safety first when it es to the employees. They believe in innovation and the employees work hard to make those innovations a reality and never steps back from learning something. The major products for Rio Tinto are industrial minerals like salt, titanium dioxide and borates. Other major products are gold, aluminum, diamonds and copper (Riotinto , 2017). The metals that are mined by Rio Tinto are converted into end-products and those products are used for development of the living standards and other economic developments of the society. The innovations that are applied to work are not limited to work. Innovations are applied for sustainable development. The organization faces with various challenges like climate change, regional munity development, resource scarcity and munity employment. The best part of Rio Tinto is that the organization does not see the challenges as challenges but opportunities. They aim at getting over the challenges and help in developing a sustainable business. After going through the case of Rio Tinto and placing it on the Dunphy’s Scale it can be concluded that the organization is performing well as it is on the efficiency phase of the scale. The pany involves the aboriginals in their business as most of their land has been used for the mining purposes. However, there is a huge gap between the number of urban employees as and the aboriginal employees. In addition to this, the land exploitation is affecting the environment. It can be said once they employee more aboriginal employees, they will help in giving ides to save the land. The monitoring system suggests that they need to keep a check on the profit, the employee engagement and the result of the external organization. The development plan includes the business model canvas, which will help Rio Tinto to go up from the ‘efficiency’ phase to ‘strategic sustainability’ phase. Beckmann, M., Hielscher, S., & Pies, I. (2014). mitment Strategies for Sustainability: How Business Firms Can Transform Trade?Offs Into Win–Win Ou es.  Business Strategy and the Environment,  23(1), 18-37. Buxel, H., Esenduran, G., & Griffin, S. (2015). Strategic sustainability: Creating business value with life cycle analysis.  Business Horizons,  58(1), 109-122. Ferguson, M. E., & Souza, G. C. (Eds.). (2016).  Closed-loop supply chains: new developments to improve the sustainability of business practices. CRC Press. Globalreporting.org,. (2017).  About GRI.  Globalreporting.org. Retrieved 10 January 2017, from https://www.globalreporting.org/information/about-gri/Pages/default.aspx Integratedreporting.org,. (2017).  Integrated Reporting.  Integratedreporting.org. Retrieved 10 January 2017, from https://integratedreporting.org/ ISO,. (2017).  ISO - International Organization for Standardization.  ISO. Retrieved 10 January 2017, from https://www.iso.org/iso/home.html Kiron, D., Kruschwitz, N., Reeves, M., & Goh, E. (2013). The benefits of sustainability-driven innovation.  MIT Sloan Management Review,  54(2), 69. Riotinto ,. (2017).  About Rio Tinto.  Riotinto . Retrieved 9 January 2017, from https://www.riotinto /aboutus/about-rio-tinto-5004.aspx Riotinto ,. (2017).  Working together for a better future.  Riotinto . Retrieved 10 January 2017, from https://www.riotinto /ou mitment/spotlight-18130_18749.aspx Sharma, S., & Hart, S. L. (2014). Beyond â€Å"saddle bag† sustainability for business education.  Organization & Environment, 1086026614520713. Sidiropoulos, E. (2014). Education for sustainability in business education programs: a question of value.  Journal of cleaner production,  85, 472-487. Sloan, K., Klingenberg, B., & Rider, C. (2013). Towards sustainability: Examining the drivers and change process within SMEs.  Journal of Management and Sustainability,  3(2), 19. Wagner, B., & Svensson, G. (2014). A framework to navigate sustainability in business networks: The transformative business sustainability (TBS) model.  European Business Review,  26(4), 340-367. Werbach, A. (2013).  Strategy for sustainability: A business manifesto. Harvard Business Press. Looking for an answer 'who will do my essay for cheap',

Agreemnet Personal Statement Example | Topics and Well Written Essays - 250 words

Agreemnet - Personal Statement Example d genuine differences among people to rapidly spiral out of control, further destroying the team’s interpersonal relationships (Griffith & Goodwin, 2012). As such, it is important to adopt positive approaches towards resolving conflicts, whereby discussions and exchanges are courteous, active listening occurs and the focus is on issues instead of individuals. Significantly, it is important to accord parties in the conflict the benefit of doubt since making assumptions and apportioning blame without hard evidence might further aggravate the conflict. Collaboration is another tactic that may be effective in addressing Manuel’s case of conflict. Since in this case job dissatisfaction and unfair pay seem to be the triggers for conflict, it is important to gather all involved parties to brainstorm for possible solutions solution that are mutually beneficial. However, this will only occur after Manuel is able to come to terms with his personal issues. This is because in order for collaboration to be effective in resolving conflict, compromise must occur whereby individuals relinquish their hard stand to find the middle ground. Consequently, Manuel may not be able to compromise if he has not come to terms with his issues and role in the conflict. The ability to compromise will also be helpful in negotiating for the appropriate solution since Manuel will have understood clearly the position of the company and his colleagues and vice

Eritrea President Isaias Afewerki Biography Essay

Eritrea President Isaias Afewerki Biography - Essay Example Eritrea’s history is related to its unique position on the Red Sea, with a coastline extending over one thousand kilometers. Its strategic importance is because of the mineral resources it has together with their history with Ethiopia. The nine ethnic groups recognized by the Eritrean government include the Cushitic Saho, Beja, Afar and Blin; the Semitic Tigre, Rashaida and Tigrigna; and the Nara and Kunama. The society in Eritrea is ethnically heterogeneous, with each ethnic group speaking a different native language. Having a little patience you are able to learn interesting facts about Eritrea, and why its history is unique and special. To begin with a visit to the capital Asmara reveals how the streets are clean, filled with friendly natives and there is not sign that there is homelessness as depicted by international medias. A tour of the city outskirts you see the reforestation and soil preservation efforts the government has embarked on, through the Eritrean student summer national service program. In Eritrea’s primary schools, children are taught in their mother tongue; bear in mind there are nine tribes, each ethnic group with a unique language how special and unique can that get, in one of the world’s poorest country. Eritrea is the only nation in the entire world to execute such a program. Again, Eritrea is a country where arranged marriages still exist in the villages. The entire tale of the Eritrean armed struggle is read about like it is an epic novel. Another special f act to recall is that Eritrea is a neocolonialist state in Africa, but has managed to achieve more in its twelve years of independence compared to nations like Sudan, Cote d’Ivoire, and Nigeria where Muslims and Christians slaughter each other. Bear in mind that Eritrea is constituted by half Muslims and half Christians, yet no such atrocity is experienced. The people of Eritrea might

FDI Essay Example | Topics and Well Written Essays - 750 words

FDI - Essay Example ssets in a domestic facility.2 In a foreign direct investment scenario there are normally two parties that are involved; the foreign affiliate and the parent business enterprise when the two are combined they form the multinational company. For instance, if a United Kingdom company decides to make a takeover of the majority stake in a South African and thus assumes its operations then that is a typical example of a foreign direct investment. The South African firm is the parent business company while the UK Company is the international business affiliate for that particular investment. However, that is not the only form that foreign direct investment has to be conducted it can take varied form depending on the interests of the parties concerned, as well as the environment of that particular investment.3 There are two primary types of foreign direct investment namely; inward foreign direct investment and outward foreign direct investment. Inward foreign direct investment occurs when there is an investment of foreign capital in the local resources. For instance, a Canadian firm takes over a significant stake in United Kingdom mining company and thus assumes its operations. Countries are making efforts to attract inward foreign direct investment since they stimulate economic growth as well they inject new capital into the economy thus making it more robust.4 Various countries implement different foreign direct investment regimes depending on their need to attract foreign investments in their economy. Some of the common factors that determine growth of inward foreign direct investment include; tax breaks from the government in that sense that foreign firms are allowed tax relaxation to a certain extent to encourage more inward investment for foreign based organization. Low-interest rates are yet another collective initiative that governments implement to facilitate the uptake of inward foreign investment from overseas companies in order to stimulate the local

Modern China Essay Example | Topics and Well Written Essays - 500 words

Modern China - Essay Example People attribute the rampant corruption in present day china to the mismanagement & red-tapism under corrupt & greedy leaders. There is also a general opinion among many Chinese that though there was more fairness & justice, openness & freedom of expression were entirely subdued. Experts such as Zhou Ongling of the citizen education Centre in Beijing is of the opinion that corruption was minimal during Mao's regime solely due to the fact that the administration during those times was totally centralized, which ensured a gradual flow of power along the ranks. This setup disintegrated in the years following Mao's death, which lead to a decline in proper administration. A pro-democratic activist San Feng has written that Mao has committed Crimes against the Chinese Nation. He has maintained that the Mao had destroyed the true spirit of humanity by putting curbs on literary expression. In fact, San holds him responsible for the widespread famine & destruction of cultural legacy. The effect of all this has been that people living in the rural areas have been neglected in all respects including standard of living, education, healthcare etc., while those living in the urban areas have flourished in the recent past.

Filmmaking Essay Example | Topics and Well Written Essays - 500 words - 2

Filmmaking - Essay Example So one of the most important things to be considered while filmmaking is the ethical dimensions to the subject, to the story, to the articulation of different scenes, to the moral justification of the utilization of media for creating awareness or creating a means of violence in the minds of audience (Maccarone p.200). In most cases, the ethical considerations are mostly ignored by the filmmaker and only the major attention is given towards utilizing it for earning huge sums of money. Ethics are a continuous issue that is required to be carefully considered while filmmaking. This hard decision-making is extremely dominant in documentaries development, due to the difficulties linked in shooting â€Å"social actors or ‘real people’ (Nichols p.2). More significantly, the ethical matters confronted by a filmmaker dissent amongst each of the modes of documentary. Each peculiar documentary mode impersonates different conventional choices that must be attained in order to function in an ethical style. Two such documentary films made in order to expose the way ethics should be considered when commencing a documentary are ‘Capturing the Friedmans’ in 2003 and ‘Etre at Avoir’ in 2001. These films had been created in distinct documentary modes, spotlighting that none o f the modes facilitates the ethical decisions linked with it. Moreover, the fact that needs to be considered is the way the choices of styles in each mode may impact the power relationships amongst the filmmaker, subject of the film and its audience, (Nichols p.10). The significance of ethics while filmmaking, is ignored as they appear in the filmmaking world to lead the behavior due to lack of such rules and guidelines (Nichols p.20). It has been argued by Bill Nichols that the important question to think is the way the people are treated around which the whole documentary is based. As mentioned afore, despite of the type of film making, the filmmakers should be

Why education is important in todays society Essay

Why education is important in todays society - Essay Example It, for example, enhances one’s understanding of their surroundings. Consequently, the individuals get to know where to look for suitable opportunities. If in need of special services, such as writing wills, or even seeking legal advice, they know where to access the services, unlike the uneducated. Such people access information that they require easily, compared to those who do not have an education. They understand how different organs in the society function, which promotes their living standards as they seek help in the right places. Therefore, education benefits the society greatly as the people in the society lead informed lives. Educated people focus on living a better life, than their past life. They do this by improving their current situations for the better. Such people unite, and form groups that can drive change in the society. Those in areas that lack adequate essential services, for example, medical care, strive to enhance the standards of medical provision. Educated citizens in areas that have inadequate schools work on improving the education system. These efforts contribute to the development of the society, which yields positive progress in the society. According to Green and Shearman (2012), education serves an important function of allowing people to live together in harmony. Schooling integrates people from diverse backgrounds. These people learn to live with each other, and appreciate the differences among them. Education also proves that one cannot survive without mutual support as the studies require them to discuss, and learn from one another. Consequently, these traits get transferred to the society, which appreciates harmonious living. Education can be used to gain economic independence in society. Educated people can get employed in the different sectors of the economy, depending on their qualifications. The employment results in a steady income, which promotes the well being of the employed persons. The educated fellows can

Modest Proposal by Jonathan Swift Essay Example | Topics and Well Written Essays - 1500 words

Modest Proposal by Jonathan Swift - Essay Example Arguments are presented to raise awareness about a trivial matter in a light-hearted manner and this is where the piece becomes important for its humorous worth. Such arguments do not lack force but refuse to impose views on others and this is what Suzanne Britt’s essay is all about. In a Modest Proposal, Jonathan Swift highlights the subject of poverty in Ireland in very harsh and satirical manner. It is important to understand that there is a very clear line dividing humor and satire and Swift’s work is not humorous in any way. His language is abrasive and there is little use of compassion. Even if logic is applied, it is twisted around which makes it appear like reversed logic. There is nothing mild about his essay and while his main purpose was to draw attention to the extremes of poverty in Ireland and the growing population problem, his solution might appear to be an attack against the government instead of a concern for societal good. Such themes were usually Swift’s favorites as Fox tells us, â€Å"Recurrent famine, widespread poverty and misery amongst the native peasantry, the failure to create a more self-reliant economy, and the landlords moral complacency are the principal targets of Swift's anger.† There is too much politics in the essay, which is one reason the essay cannot be truly enjoyed. No serious facts or statistics have been used and thus the essay lacks objectivity. With the kind of harshness he employed, statistics were definitely needed to support his case. In the contrast, we can use the example of Suzanne Britt’s essay, Neat people vs. Sloppy people. This essay has made good refreshing use of humor. The author has tried to attract attention to the differences between the attitude of neat and sloppy people and has employed humor with such ease and precision that every person would love this piece.

The Dropping of the Atomic Bomb Essay Example for Free

The Dropping of the Atomic Bomb Essay On August 6, 1945 an American bomber dropped the atomic bomb on Hiroshima., Japan. Three days later another atomic bomb was dropped on Nagasaki, Japan . Theses bombs brought the end of World War two with Japan. After the Allies defeated the Axis powers in Europe, America need a way to quickly end the war. This came the decision to drop atomic bombs on Japan, which was a military necessity. The drain of early battles, an full-scale invasion on Japan, and the threat of Soviet influence cause for such a dramatic decision to be made. The United States had managed to stay out of war in Europe, until the bombing of Pearl Harbor on December 7, 1941. This bombing by the Japanese had dragged America into the fight (Doc A). The Pacific front of the war was one of the bloodiest. Americans had lost its footing in the Eastern front in the early years. Such as the lost of control of the Philippines, when General MacArthur retreated to to Australia on April 9, 1942. It wasn’t until June of that year at the battle of Midway when the U.S. started to turn the tables. Fighting on two fronts was draining on the U.S. and after V-E day in March of 1945, the United States need a way to end the war soon, or face a the war to continue to drag on, causing thousands of more American lives. The United States didn’t think of dropping the bomb to end the war at first. U.S. forces had began to plan a full scale invasion on Japan’s mainland in November 1945. American forces had been bombing cities, military bases, and industries, in Japan since the take over of Guam in the battle of Marianas on June 1944 (Doc E). The invasion of Japan would cause millions of deaths, not only American, but Japanese lives as well (Doc C). The atomic bomb had began construction under President Roosevelt to use against the Germans (Doc B). Once Truman became president, the bomb seemed to be the quickest way to end the war while spearing as many lives as possible (Doc D). The drop of an Atomic bomb would also end the need for Soviet assistance in ending the war with Japan (Doc F). With the Soviet Union joining came the threat of communism spreading. It seemed not a good idea to be in the situation to need help from the USSR. Some think the bomb was a way to threaten the Soviet Union. To show off the U.S. power (Doc G). After dropping the first atomic bomb, Stalin declared war on Japan, August 8, 1945. This raised the even more need to drop the second bomb. That caused Japan asked of peace on the 10th of August 1945, stopping the need for the not so welcome support. Though the out come of the bombing was terrible (Doc I), and some like to say there where other ways to end the war, avoiding using the atomic bomb (Doc H).Though in the end the dropping of the two atomic bombs was a necessity. It was the only option to end the war, without causing a significant number of lives in that time.

Charles Dickens Essay Example for Free

Charles Dickens Essay Great Expectations, written by Charles Dickens, is one of the most popular classics of our time. Dickens novel was, some may say the work of a genius. The tale is of a boy who starts from humble beginnings and whom the story follows through to young adulthood each entering a new experience for the boy. Charles Dickens wrote the novel in 1860-61. He was born into a respected middle class family, in Charlton. He incorporated local features and happenings into his books when he could. His father went into debt and then prison after his finances collapsed. The rest of the family had to go to, so Charles spent time in prison. This is where Charles Dickens got some of his inspiration for his book. He eventually died at the age of fifty-eight from a stroke and was buried in his local churchyard. Chapter eight is an essential part of the book because it conveys a clear image of the characters personality and is a key part for the rest of the story. I will look in Chapter 8, where Pip goes to see Miss Havishams house for the first time, for a number of different techniques and devices which the writer uses to make us feel sympathy for Pip. Charles Dickens starts making the reader feel sorry for Pip when he and Mr Pumblechoke arrive at the gates, and Estella greets them. They completely over look Pip. This shows that Pip is unessential and insignificant. This, said Mrs Pumblechoke, is Pip This is Pip, is it? returned the young lady come in Oh she says, you wish to see Miss Havisham? If Miss Havisham wishes to se me. Returned Mr Pumblechoke. As you can see, from this initial conversation, Pip does not have the opportunity to introduce himself. This shows that he is considered to be insignificant, even though it was he who Miss Havisham had sent to see. This makes the reader feel condolence for Pip because it is as if people dont care about him. After the initial conversation, when Pip was marched inside with Estella, Estella starts to patronise Pip, which makes us feel sorry for him. But dont loiter, boy Though she called me boy so often, and with a carelessness that was far from complimentary, she was about my own age. She seemed much older than, of course, being a girl, and a beautiful and self-possessed; and she was as scornful of me as if she had been one and twenty, and a queen This paragraph shows us that Pip is already feeling downhearted about Estella constantly making him feel bad. Even though Estella was about the same age as Pip, she considers herself to be wiser, more mature and generally above Pips level. This is showed in the film by Estella being taller than Pip and looking down on him making her think herself bigger than him. This makes the reader feel sympathetic towards Pip because it is his first visit to Miss Havishams. He is evidently nervous and anxious, and having someone of his own age being scornful towards him, his self-confidence just breaks. The third time in chapter eight that the reader is made to feel sorry for Pip is when Pip was left in the hallway on his own with no light. Scornfully walked away, and what was worse took the candle with her. This was very uncomfortable and I was half afraid This makes the reader feel sympathetic for Pip because he is portrayed as being vulnerable. Estella leads Pip into the house and to a door, and was proclaimed by Estella to go in. Pip declines and returns with after you miss. Estella telling him not to be so stupid and scornfully walks off with the light. You would think that now Estella had gone, his situation would have improved but this is not the case. He is about to embark on his first meeting with Miss Havisham, making him hesitant and nervous. His confidence is not helped by standing outside the door in darkness, with no candle. Pip is now viewed as being vulnerable. Soon after Pip swallows his pride and opens the withered and wrecked door handle. No glimpse of daylight was to be seen in it. It was a dressing room, as I supposed from the furniture, though much of it was of forms and uses quite unknown of to me Pip enters through the door and is met by a milky white room. Although well lit by candle. There is antiqued furniture, all of which added to the mood, as if nobody had lived there for quite some time. The clocks had also stopped at twenty minutes to nine. The reader then feels sympathetic towards Pip because of his already nervous state being placed in an eerie, scary atmosphere, which seems unnatural to the poor boy. The reader once again feels sorry for Pip when he is ordered to play cards with Estella, for Miss Havishams viewing. Estella once again starts to be obnoxious towards Pip.

The Business and Financial Performance of Tesco Plc

The Business and Financial Performance of Tesco Plc Introduction and Justification of Research Subject 1.1. Topic Selection Oxford Brookes University allows me to choose a topic for my research project from 20 research subjects relating to different academic disciplines i.e. accounting, marketing, management and I have chosen topic number 8 The business and financial performance of an organization over the three years of period; and select the TESCO Plc as a case study . The business and financial analysis will be based on the data from year ending 2006 to 2008. I will benchmark the financial performance indicators of Sainsbury Plc to make comparative analysis. Comparison of both organizations will be a like-for-like analysis as they both operate in same industry i.e. retail market. The focus of my research will be critically evaluation of financial performance of TESCO Plc and its contextualization into business strategy of TESCO. The subject matter intends to conduct research that will provide external points of view on the financial performance of TESCO from all its stakeholders, i.e. shareholder, Investors, Financial Institutions, Government Agencies, Customers and employees etc.. 1.2. Motivation to Choose This Topic The motivation for me to select the topic of business and financial performance of organization is my prior understanding and academic knowledge on accounting and finance that build during my study of ACCA. I have studied the subject on preparing financial statements, financial reporting, financial information management and performance management control. These all subjects primarily relate to analyse the financial performance of the organization and build my skills in accounting ratio. I find this research project is an opportunity to apply these knowledge and skills in accounting in applied manners on real business scenario. The topic also relates to my professional career objectives as my aim is to pursue my career in field of financial analysts. This research project will be an initial exercise toward my career targets. This research project also builds my managerial skills i.e. research skills to find out appropriate financial information for analyses, interpretation skills to write financial analytical report, integration skills to contextualize the financial data within overall business strategy to conclude the results. 1.3. Reason to Choose This Organization I select the TESCO Plc for my analysis because it is one the biggest retail giant of United Kingdom since 1995 and have become third biggest retailer over the world in 2008. It is operated in diverse territories of the world includes republic of Ireland, Japan, Malaysia, Poland, Slovakia, South Korea, Thailand, and United State. The TESCO Plc also operates in diverse range of business and products that includes food and drink, clothing, consumer electronics, financial services, telecoms, health insurance, dental plans, retailing and renting DVDs, CDs, music downloads, Internet services, software and petrol filling stations. The profits have been exceeded over  £2 billion over the year 2009. In July 2008, TESCO Plc held 31.6% market share of UK grocery marketing that was 3% higher than the previous year while the major competitor Sainsbury held only 15.9% with increment of 1% over last year. The basic earning per share of TESCO is continuously increasing since 2006 from 19.70%, 22.3 6% 26.95% consecutively. The unique competitive characterizes of TESCO Plc motivate me to pursue research project on this organization. It will provide me the opportunity to analyze its business strategy and financial performance in international context. 1.4. Research Aims and Objectives The objective of research is to critically evaluate the financial performance in relationship with overall business performance of TESCO Plc for the year starting from 2006 to 2008. The study objective is to synthesize business and financial performance to pinpoint the implications of business strategy of TESCO, its effects on financial performance to sustain long term competitive position. The researcher aims to provide transparent opinion around business and financial position of TESCO to its all stakeholders. In order to meet this research objective, I set following research questions to be answered in my analysis. 1.4.1. Research Questions On what critical underpinning TESCO business strategy stands? What is the existing financial position of Tesco Plc? Does the business strategy and financial position support each others? What are the critical factors that impact on business and financial performance? What are the implications for TESCO future growth? 1.5. Overall Research Framework to Meet Research Objectives and to Answer Research Questions 1.5.1. Evaluation of Business Strategy The research project will evaluate the prospects and growth strategy of TESCO where I will analyse retail marketing strategy, its business operations, online retailing, and impact of technology. In order to conduct these analysis:- I will apply the Generic Competitive Strategy model developed by Porter (1980) in my report to analyse the competitive strategy of TESCO Plc. I will apply Ansoff Growth Matrix to analyse the growth strategy of TESCO Plc. 1.5.2. Evaluation of Financial Performance Strategic Analysis I will calculate the financial ratio of TESCO Plc over the three year to analyse the financial position. The ratio analysis will be based in profitability, liquidity, efficiently and investment ratios.. I will also conduct the strategic analysis of TESCO. I will apply SWOT analysis framework that will identify Strength and Weakness of TESCO and Opportunities and Threat within market. I will apply PESTEL analysis I will apply Porter (1985) five forces competitive framework includes rivalry of buyer, supplier, customer and substitute products. Chapter # 2 Information Gathering The chapter describes the research methodology applied for the research report and has been structured into section:- 2.1. Nature of Research Data The nature of data required for research is highly depended upon the nature of research problem and research objective. There are two types of data that can be used in research analysis one is called primary data and second is called secondary data. 2.2.1. Primary Data The primary data is first hand information collected by the research to investigate the research subject. The primary data is collected through personal interview, questionnaires, focus group interviews, observation, case-studies, diaries, critical incidents and portfolios. The primary data once collected become secondary data for others. 2.2.2. Secondary Data The secondary data is information or data that has already been collected or recorded by someone else, usually for other purpose. A lot of information gathered by the government, information pertaining to financial marketing such as stock prices and trading volumes is widely available in financial newspaper or online at various financial portals, annual reports of public companies etc. I used secondary data for my research. This study required the financial information covering the period of three years, marketing plans, future strategy, the information about the influencing factors on financial performance and marketing strategy such as economical, political, social and industry competitiveness etc. The information are only possible to collect by relying on secondary source of data. The collection of primary data on these research variables is needed long time, heavy cost and perhaps impossible to collect. 2.3. Collection of Secondary Data 2.3.1. Annual Public Report of TESCO Plc and Sainsbury I used the annual reports over the past three years of TESCO Plc published. The annual report of TESCO provided me the information related to financial data, organization infrastructure, organization mission and objective, organization achievement and future plan. The annual report contains the message of chairman, chief executive officers and management that will provide me information to understand the business strategy and future plan of the TESCO Plc. I used the annual report of Sainsbury to conduct comparative analysis to evaluate the performance of TESCO. This resource provided information to apply in calculation of financial ratios analysis, describing competitive strategy, growth strategy, and conducting SWOT analysis. I accesses TESCO online from the internet website www.tesco.com and Sainsbury from www.sainsburys.co.uk . 2.3.2. New Papers I used the secondary information source published in newspapers. The both organization are prominent entity of retail grocery industry and reports relates to these organization regular published in news paper. These reports provided me external views to know about the performance of TESCO and helped me to conduct the external analysis (PEST, Porter 5 forces) to identify the key threats and opportunities and internal analysis to pin point the strengths and weakness of TESCO. The Types of newspaper that I have read include:- Financial Time Guardian The Independent The Time Journal of retailing and distribution 2.3.3. Books The books are the traditional source secondary data. The limitation of this resource is that books are normally not provide up to date data and are emphasis on general descriptions. But the books are very useful to understand the concepts and theories that help to follow research methodology and conclude research findings. I used the book particularly to understand research model and analysis applied to my study. This equipped me to critically understand the application of financial ratios, Ansoff matrix model, SWOT Analysis, PEST and Porter Five Forces Analysis. I studied the following book:- Pearce, J. and Robinson, R (2005) Strategic Management Johnson, G. and Scholes, K. (2008) Exploring Corporate Strategy Hill, C. W. L., Jones, G. R., (2007) Strategic Management Thompson, A. A. Strickland, J. A. (2003), Strategic Management Mishkin, F. S., Eakins, S. G., (2005), Financial Markets and Institutions Brealey, R. A. (2002), Principles of Corporate Finance 2.3.4. E-Resources I used the resources available at internet that provided me the counter information to evaluate the financial and business performance. One of the limitations of e-resource is that it lacks credibility than books and annual reports but provides independent external opinion in large extent. I accessed the following data in conducting my analysis. Biz/ed: A gateway for primary and secondary business and management information UK focus available at www.bized.ac.uk Directgov. UK government published official statistic available at www.direct.gov.uk RBA Information Service: Business information gateway with links to business, statistical and government country sites. UK Data Archive: Collection of UK focus digital data in social science available at www.data-archive.ac.uk Netmba:- e-resource of management, strategy and finance available at www.netmba.com FT info: company information more than 11000 including financial performance. London Stock Exchange available at www.londonstockexchange.com 2.3.5. Library Research I joined the library of London school of economics that provided me the access to comprehensive list of book and published material around my research subject. 2.3.6. Credibility of Secondary Data As it is said that the secondary data is normally deviates to the research problem as result the credibility of secondary data to use in research is always questioned. To make sure the applicability of secondary data applied the following check list. Where and when the data is collected? Who publish the data? Do the data cover the information I need? Is the information is detailed enough? Do the data follow the definition I apply in my research problem? Are the data accurate enough? 2.4. Research Approach The research approach may be qualitative and quantitative. My research includes both type, it relates to quantitative when analysis and interprets the financial performance of the TESCO with the help of financial ratios and qualitative in nature when investigates business performance of the TESCO with the help of business model of SWOT, PEST, Five Forces, Ansoff Matrix. So the data should be collected in both forms quantitative and qualitative. 2.5. Research Ethics I also considered the research ethics in my report. The research findings are interpreted in a way that provides the foundation to TESCO to know their lacks and impediments in business strategy not in the way to tarnish the image of the TESCO. Moreover only reliable information is includes in analysing the business strategy and financial performance, most of which is published by the Tesco itself. On the other the researcher did not hide or manipulate any information and provide transport fair view of Tesco performance for all stakeholders. 2.6. Business/or Accounting Techniques Applied I have applied the following techniques in my research and analysis Project. 2.6.1. Financial Ratio Analysis to evaluate the performance of Tesco and Benchmarked company Sainsbury I have used ratio analysis. The limitation of accounting ratio is that it is based on accounting reality and ignores the economic realities. It can be easily manipulate by using various techniques such as valuation of stocks FIFO and LIFO method etc. I have used Profitability Ratios Gross Profit Margin Net Profit Margin Return on Capital Employed Return on Equity Liquidity Ratios Current / Woking Ratio Acid Test/ Quick Ratio Efficiency Ratios Debtors Turnover Debtors Days Creditors Days Net Asset Turnover Stock Turnover Stock Days Investment Ratio Earnings Per Share Interest Cover Dividend Per Share 2.6.2 Generic Competitive Model of Porter (1980) I have also applied The generic competitive strategy model develop by porter (1980) . 2.6.2. Ansoffs Product/Market Matrix I applied The Ansoff Growth Matrix to illustrate the growth strategy of TESCO. 2.6.3. SWOT Analysis The SWOT (Strength, Weakness, Opportunities and Threat) analysis has been applied with the help of external analysis of PESTEL (political, economical, social, technological, environment and legal), 5 Forces (customer, supplier, entrance, substitute, rivalry) and internal analysis of financial ratio, organization infrastructure, porter (1985) value chain analysis is applied. The combination of these analysis eliminates the limitation of each other i.e. PESTEL analysis not captured industry competence for this 5 forces Model is applied. Chapter # 3 Interpretation of Results and Analysis 3. Financial Ratio Analysis The financial ratios are illustrated in figures both statistically and graphical of both organizations TESCO and Sainsbury for the period of three year from 2006 to 2008. The short description of each financial ratio is provides with individual ratio and more focus is given to the analyse result in context strategic analysis to conclude rational research findings. 3.1. Profitability Ratio The profitability ratio analysis includes gross profit margin, net profit margin, return of capital employed and return of equity employed. 3.1.1. Gross Profit Margin Comparing the gross profit margins will show the efficiency of the both companies. The gross profit margin was 7.67% in 05/06 which increased to 8.12% in 06/07 the increase in profit is partly due to increased sales revenue and partly due to the fact that company made huge gain of 258m on its pension fund invested in past(I.e. Exceptional Item) which is makes up 7.5% of gross profit. However gain was one off item as the GPM decrease in 07/08 to same level as in 05/06 that is 7.67% another reason for this decrease is high rate of inflation. These results show that the Tesco is struggling in managing cost of production even though sales have increased over three years time interval but the cost of production increased in line with sales. The results are very critical because the Tesco have launched cost effective retail settings Tesco.com, Tesco online and cost control measure i.e. electronic checkout till and efficient supply chain mechanism that it claims directly linked to store shop floor shelves but the financial result are adverse to its claims to reduce cost. Whereas Gross profit margin of Sainsbury is saturated over time period it was 6.64% in 05/06 which increased to 6.83% in 06/07 and gone down to 5.62% in 07/08. The sales revenue was in it is peak in 07/08 the sale increased 3.80% over the year as compare to the production cost which increased to 5.10% which indicates that Sainsbury is struggling to maintain its low cost of production thereby suffering. Overall, on the grounds of reason mentioned above it is clear that Tesco is attaining high gross margin than Sainsbury overall and in all periods 3.1.2. Net Profit Margin The net profit margin was 4.01% in 05/06, which increased to 4.41% in 06/07 the main reason for this is increase in gross profit as these two ratios are directly related to each other. Other reasons are as follow; in the same year, company discontinued one of the J.V operations and dispose its share from one of the associates, which gave rise to profit of $106m, 25m, which makes 5.6% and 1.33% of net profit. These transactions were made partly in order to pay some of the shorterm loan, which decrease finance cost by $25m, and partly to invest in other companies in order to gain the control. As shortterm loans are expensive source of finance reduction in the fiancà © cost supported by increase of 1.3% in net profit. The net profit was increased in 07/08 by 0.09% to 4.50% the main reason for this is increased sales revenue 9.80% over a year. Other reasons being are as follow: corporation tax has reduced 99m over the year due to prior years adjustment i.e. change in tax rate, more deferred tax assets, foreign exchange movements, pension and etc. Another reason being as property related profit increased 96m that makes up 4.5% of net profit. Despite of these all factors the net profit margin is low. It may be due the reduction of profit share with join ventures and payment of insurance claims to customers. Sainsbury net profit over the three-year period has significantly improved. The net profit margin was .36% in 05/06 that improved to 1.89% in 06/07 the reasons in increase are as follow; increased sales revenue, reduction in admin cost, increase in other as well as finance income. However, Sainsbury did not maintain or improved over the year in 07/08, as it was slightly down to 1.84% the main reason for this even though the sales and operating profit was improved but loss in J.V of 2m and increased finance cost of 25m caused it to be lower than previous year. 3.1.3. Return on Capital Employed This ratio is key measure of return. it measures the amount of earnings from capital provided by shareholders and lender. The ROCE was 15.15% in 05/06 that increased to 15.90% in 06/07 as operating profit increased by 13.9% and the capital employed has also increased by 9.7% the increase in the capital employed is due to issue of new share capital, increase in non- current liabilities, and massive Increase in the deferred tax liabilities. Eventhoug capital employed has increased but it did not increase inline with the operating profit that is also another reason for increase in capital employed. The ROCE in 07/08 has declined to 14.02% despite increase in operating profit of 5.1% and increase in capital employed 19.5%. The main reason for increase in the capital employed are as follow; issue of new share capital worth  £3m, which also give rise to share premium of  £135m, share based payment worth  £199 massive foreign exchange and pension gains etc. Increase in the capital emp loyed is not in line with the increase in operating profit however this increase in the capital employed will be beneficial in order to generate more operating profit as it has already started to show its effect i.e. increase in property related profit is classic example. Comparatively Sainsbury ROCE has fluctuated over the three years period. ROCE in 05/06 was 2.89% well below than Tesco but well above than it previous year where it was negative it has improved to 7.59% in 06/07. The main reason as sales have improved over the year and company also saved  £170m admin cost that shows they are managing cost well and capital employed over the year has decreased to  £1082m that is 15.8% mainly due to payments due to Sainsbury bank and other banks. The ROCE in 07/08 has again decreased to 7.06% as the capital employed has increased due to the massive gain from the pension benefits and increase in provision of deferred tax that has to settle in future. Overall, Tesco results are far more better than Sainsbury. 3.1.4. Return on Equity The return on equity is continuously increasing and has increased by 6.2% over three years and is higher than Salisbury but results are still not remarkable. This is mainly because of repurchase of share equity in the market not because of profitability. The Tesco is pursing the policy to buy back the share from the income coming from the release value of properties. 3.2. Market Ratio The market ratio I have used for my analysis are as follow: Earnings Per share, Dividend Per Share and Interest Cover. 3.2.1. Earning Per Share This ratio determines portion of company profit allocated to the each share. EPS is one of most important variable factor in determining the share price. The EPS of Tesco has been increasing since 2006. The EPS is in year 05/06 was 20.07p it has gone up to 23.84p in 06/07 followed by 26.95p in 07/08. Better profits over the years have increased the EPS another reason for increased EPS in 07/08 as Tesco bought its own share which increase EPS by 11.5%. Sainsbury have performed very well over the three years and increase EPS 82% over 3 year as Sainsbury profit has increased significantly over the three-year period due the reason such as increase in gross profit, net profit etc. Sainsbury net profit margin has increased 80.4% over three years period. Overall, The result indicates that the EPS of Tesco share high than industry benchmark. 3.2.2. Dividend per Share The dividend per share of Tesco increases every year since 2006. In the year 2006, the dividend was 8p in the year 2007 9p and in year 2008 10p. It indicates that the increase in Tesco profitability positively impact on dividend per share. Another reason for increase in 07/08 as Tesco buy back its on share which directly impact on ratio. Dividend per share On the other hand paid by Sainsbury are for same 05/06 and 06/07 of 8p but has increased in 07/08 to 10p which clearly indicates that it wants to pay same amount of dividend as per its competitor in order to attracts more shareholder. 3.2.3. Interest Cover Tesco has sustainable proportion of profit to cover interest. This is mainly because of stable external borrowing and realization of growth investment in diverse products and markets. This was 10.27% in 05/06, which increased to 13.28% in 06/07 and decrease to 12.21% in 07/08. the reason for decrease in 07/08 as PBIT increase by 6% as compare to interest paid which was 13.6% The performance is quite better and stable than Sainsbury. 3.3 Liquidity Ratio Liquidity ratio informs the ability of Tesco to meet its short term liabilities and includes current and acid test ratio. 3.3.1. Current Ratio The current ratio of Tesco is increasing over the time and indicates improving ability of Tesco to have liquid funds to repay short term obligation but it is lower than Sainsbury. The performance is better in a way that since 2006 the Tesco have grown 0.09 form 0.52 to 0.61 but still lower than ideal ratio of which is 1:1. Whereas Sainsbury who have declined from 0.88 to 0.66 which indicates that Sainsbury ability to meet its short term obligation is decreasing. Tesco is strengthening its liquidity power. 3.3.2. Quick/Acid Ratio The quick ratio has increase to 0.38 in 2008 from 0.32% of 2007, which was 0.01 low to 2006. The maintenance of cash and banks is almost according to benchmark competitor but need to be strengthened. 3.4 Leverage Ratios The leverage ratio is being applied to measure risk factor of Tesco and these includes total debt equity ratio, long term debt equity ratio and interest cover. 3.4.1. Total Debt Equity The ratios of debt to equity have increased in 2008 to 68% that was 60% in 2006 followed by 59% in 2007. The change is not critical because it is the effects of equity buy back that have decreased the equity value. It is also justifiable because Tesco is enjoying lower cost of debt than cost of equity. It will readjust when the Tesco will launch free share option for its employee. 3.4.1. Long-term Debt Equity The results illustrate similar progress to total debt to equity but more precisely describes the impact equity buy back. The Tesco still have the opportunity to raise fund through external borrowing without critical leverage. 3.5. Efficiently Ratios Efficiency ratio ratios are used to map to performance to mange stocks, debtors and assets of the Tesco. It includes the debtor turnover ratio, stock turnover ratio, debtor days, stock days, creditor days, net assets turnover and fixed asset turn over. 3.5.1. Debtor Turnover Days Debtor turnover and days are directly related to each other i.e. if one goes up second will go up as well vice versa. The debtor turnover was 44.23T in 05/06, which indicate that debtor days were less, 39.52T in 06/07 and in 07/08 36.08T that is reason in 07/08 on average each customer, took 10.12 days to pay debt. The ratio has moving trends over the time. On the other hand debtor turnover of Sainsbury have increase from 05/06 of 58.19T to 86.59T in 2008, which indicates Sainsbury is able to convert its debtors into cash frequently and enjoying having cash benefit as its debtors day have reduced from 6.27D to 4.22D. It is found that Tesco Debtor management need improvement and the debtor days are critical and need to be minimised. Debtors Days Debtors Turnover 3.5.2. Stock Turnover Days These two ratios also directly related to each other as Debtor turnover and days. This ratio informs how many times the Tesco convert stock in to sales revenue. The stock turnover ratio has decreased since 2006 that is reason why stock days for Tesco have increased over the period. As turnover was 24.88T in 05/06, therefore the days were less. It was 20.40T in 06/07 and 17.97T in 07/08, which increases the days to 20.44. Whereas the stock turnover days ratio of Sainsbury is significantly better than Tesco in all years. Inefficient stock control not only increases the storage and handling costs but also waste which impact on overall profitability. Stock Turnover Stock Days 3.5.3. Creditor Days The creditor ratio informs the ability of Tesco to settle its creditors. It is found that the Tesco creditor days are increasing over the year but always less than Sainsbury. In 2006 the creditor days was 28.47 days, in 2007 30.97 days and in 2008 32.90. This will improve the credibility Tesco to purchase competitively than its competitors. Keeping in view of early payment to creditor it can get competitive purchasing price that help it to over good cheaper in the marketing or attain higher margin. 3.2.4.6. Net Asset Turnover The net asset turnover ratio informs Tesco assets ability to generate sales. It is found that net asset turnover ratio is in 2006 is 2.62, in 2007 is 2.56 and in 2008 is 2.38. The ratio has been decreased in 2008. This reflects the impact of heavy investment made by the Tesco on store refurbishment, electronic tills and infrastructure. The performance is almost equal to Sainsbury. 3.6. Evaluation of Future Prospects and Strategy Analysis 3.6.1. Competitive Strategy The Tesco aims to deliver maximum value and choice to customer to attain their life time loyalty. According to my analysis the Tesco is pursing hybrid strategy simultaneously is struggling to achieve low price and differentiation relative to competitors i.e. Wall Mart-ASDA and Sainsbury but influence of low cost is very high than differentiation. It has launched its low cost brand Tesco value, price discount but on the other hand have premium brand i.e. Tesco Finest. The Tesco declares itself as discounter. The underpinning of Tesco competitive is a relentless attitude lowest cost provider of goods and services to be successful in worlds most competitive markets. Porter Generic Competitive Strategy Presentation of TESCO Competitive Advantage Efficiency Quality Competitve Scope Brand Market Low Cost TESCO Differentiation Narrow Market Focus Cost Focus Differentiation 3.6.2. Growth Strategy The Tesco is pursing consistent strategy since 1997, which strengthen its core UK business and help to drive expansion into new product line and international markets. According to the Ansoff Matrix presentation, the Tesco is operating in all three extremes. It has introduced Non food, Tesco online retailing, launched personal finance, Insurance and enter in telecommunication sectors. The have entered into 12 international markets. Ansoff Matrix Presentation of Tesco Growth Strategy Existing Products New Product Existing Market Market Penetration UK Core (Grocery) Product development Non-Food Tesco Online Personal Finance Insurance Telecom New Market Market Development 12 International Markets Diversification The grocery business of Tesco is the largest contributor of its revue to  £51.8bn which is 40% of total sales, Asia 29% and Europe 25%. Intern