The Financial And Business Performance Of TESCO - Free Essay Example

Sample details Pages: 22 Words: 6465 Downloads: 5 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? A company founded by Sir Jack Cohen in 1924 when its first day sale revenue was  £4 and profit was  £1, is the name of todays billion-pound revenue making organization known as Tesco Plc. First Tesco store was opened in 1929 and it become private limited company in 1932. In 1947 Tesco float on stock exchange. Don’t waste time! Our writers will create an original "The Financial And Business Performance Of TESCO" essay for you Create order Tesco launched its website in 2000 and in 2001 it become leading organic retailer in the UK. From 2002 Tesco reaches to international market and opened new stores in Malaysia, in 2003 it opened store in Japan and turkey etc. Now Tesco is the world third largest food retail company while in the UK it is number one. With 2115 stores, Tesco is Britains largest retailer for food and non-food products (Ref.1, Metro 2006).Tescos Group sale has gone to 11.1% and dividend per share 10.9p not only this but also impressive expansion in all over the world that makes Tesco prominent in food retail industry in the world and particularly in the UK. As an investor and an accountant, I realized the opportunity to analyse the financial statements of the Tesco which will help me to increase my knowledge and skills to evaluate the companys performance. It also helps to understand about the future plans and opportunity in the Tesco. Therefore, I proposed to analyse the following aims and objective s. Aims and objectives The aim and objectives of this research were to examine and evaluate the following factors of the business performance of Tesco Plc: Social Economic Responsibilities towards all stakeholders. Non-financial Performance measures Financial performance measures including, Profitability measures, cash flow statement analysis, assets management performance and liquidity performance. The intention was also to compare the performance with the industry average or competitor wherever it was possible The following section examines and evaluates possible frameworks that would allow this research to effectively meet this aims and objectives. 1.3 The Conceptual Framework Through studying for a business degree, an ACCA qualification, examining and evaluating academic literature, I have considered many conceptual framework. Financial and ratio analysis are valuable tools for evaluating the companys performance but it only examine the financial data and ignore the non-financial perspectives which are going to be more valuable in this modern world then these were ever. Therefore, our business models were considered, such as the balanced scorecard approach, Porters five forces model and BCG matrix. However, porters five forces and the balanced scorecard approaches considered to be the most appropriate for this project as it examined the both internal and external factors. In order to obtain the relevant data the following methodology was undertaken. 2. METHODOLOGY 2.1 Research Philosophy and Approach As the Aim and objective of this project was to explore the financial and non-financial data in order to induce a theme, it was believed that an interpretive research philosophy and inductive approach would be the most appropriate. It also allowed theories to arise as a result of and during the research, which allowed the research project to refocus during the analysis (Ref.2, Zina OLeary, 2004) 2.2 Research strategy 2.2.1 This research project used secondary data The research used secondary data to evaluate performances for the last three years of Tesco (2006-2008). This approach allowed trends to be evaluated and explored which gave strong meaning to the data collected or gathered. A case study approach adopted because it enable the researcher to gain richer understanding of the entity and gave the research the ability to generate answers to the question. Begin by understanding the context in which the case is being analyzed or discussed. What is the topic being discussed? How does this case relate to the topic? (Ref.3, San Josà © State University 2004) 2.2.2 Primary vs. secondary data Primary data was considered, as it would not only have added greater insight and depth into the qualitative aspects of this research, but also it would have reinforced any secondary data obtained (Ref.4, Saunders et al. 2003). However, it was decided to use secondary data for the research of Tesco plc. Secondary data can be really effective and cost effective as it had already been collected and analyzed but problem is if the data had already been collected and analyzed then it also has been used for some other purposes and for different group of people according to their requirements. (Ref.5, A.J. Bell 1995), State: presentation could be misrepresentative as the data collected for different purposes, It could be unreliable as its origin is known and there is risk of bias. The following section examines how I improved the credibility of the secondary data, by examining bias, reliability and validity of the secondary data gathered. 2.3 Bias and Reliability of Secondary Data I was aware of possibility of misunderstanding the data or arriving at the wrong conclusion. Therefore, in order to increase reliability, I gathered the data from the different sources and subsequently match the data that been collected from the different source and tried to use the reliable authentic one. Reliability and authentication of data depend on the source which can be companys website, different business and financial websites, study text books, newspapers and many more. 3. SECONDARY DATA REVIEW 3.1 Academic Textbooks Various different textbooks (especially study text books from FTC, BPP and LONDON SAM) were used to get better knowledge and understanding about the business performance. These were either from my own study text books from fundamental level paper and professional paper or from the London Library. My study textbooks are mostly base on accounting and strategy subject which really helped me to evaluate the financial and business performance of Tesco. Where ever I felt difficulties to understand any term or any point I consult with different books from the library, in contrast I found research related books very useful and innovative with regards to the methodology. 3.2 Newspapers and Magazine Student Accountant, PQ Magazine, The financial Time and City Am amongst other been used to get higher detailed knowledge of the research topic. However I found The Financial Times more helpful for this research project because it keeps highlighting not only financial matter of the company but also non financial matters of the companies. For me it was easier to find out relevant data about the other companies within the same industry like Sainsbury, Asda in the UK and WM globally to compare and analyze the business performance over last three years. 3.3 Websites Tescoplc.com was main website source to get research data for this project. Data mainly taken from the Tesco website was the company financial statements, annual reports, media releases and events. But when reading and analyzing financial and non-financial data, from company official website, lot of extra care and attention is needed as there can be a risk of bias. Research data was also extract and examined from some other websites such as Financialtime.com, thisismoney.co.uk, bpp.com, google.com, reuters.co.uk, investor.cisco.co.uk and many more websites been used to complete this research topic effectively and timely. 3.4 Tesco PLC. Reports Tesco annual financial statements, annual reports and media reports were key source of information for this research topic which has been gathered from different sources. Financial reports contain mainly statement of financial position (balance sheet), statement of financial performance (company income statement), cash flow statement and statement of changes in equity. Non-financial reports may includes company social responsibility towards different stakeholders, Auditors annual report (qualified or non qualified) and directors basis of remuneration etc. Although Companys financial statements prepared in accordance with the international accounting standard (IAS), even than companys profit can be manipulated or smoothing of profit tact can be used. Other problems which may occur by using Tesco financial statements is that financial accounting base on the historic data which may not reflect the current position or future position of the company clearly. So, here again extra care is needed and more analysis is to be done in order to know the better view of the companys performance. 3.5 Limitations Limited access to sensitive data, time restriction and using secondary data for research project, were all limitations of this research. However, objective of this project was to evaluate the business and financial performance of the Tesco Plc. I believe, these limitations do not affect the credibility of this research project as the data I used can be compared and can be found from different sources, for this report. 3.6 Ethical Issues Secondary data already is for general public which can be used from different groups of stakeholders according to their need. In this research project I used secondary data as source of information which is already a public domain So, there is no ethical issue regarding the confidentiality. 4. THE CONCEPTUAL FRAME WORK 4.1 The Balanced Score Card Model Robert Kaplan and Davis Norton carried out a year- long research project and defined the balance scorecard model which enables the companies to evaluate the financial and non financial performance of the Tesco by dividing into four different perspectives (Ref.6, Accountancy College, and JUNE2008): 4.1.1 Financial perspective Tesco financial measures can be evaluate through different heads, liquidity analysis (current and quick ratios), profitability ratio which includes gross profit margin, net profit margin, cost percentage to sale etc. Financial performance of Tesco will be analyzed in detail further in the project. 4.1.2 Customer Perspective Demand for existing and new customers should be satisfied. Tesco policy is to provide Goods of good quality at reasonable prices to its customers. Tesco also considers the customers local and traditional demand. 4.1.3 Internal Business This perspective evaluates the relationship between Tesco and its trade creditors. Recently it has been announced that Tesco asked all of its non-food suppliers to wait for an extra 30 days for payment and also asked them to reduce the prices of the products. (Ref.7, Jennifer Creevy, October 2008) 4.1.4 Innovation and Learning Company culture and innovation approach can be evaluated from the employee productivity and training development programs from the company to its employee. It also need to asses whether Tesco was providing its employee training and development to ensure that its work force is fully competent and providing excellent service for the best interest of the organization. 4.2 Porter Five Forces Model Porter Five Forces Model explains the competitive strategies for the business. How success full Tesco is in non financial performance can be evaluate from its planning towards its competitors and other parties. Tesco non financial performance can be assessed in the light of (Ref.8, Michael Porter 1980) Five Forces Model. 4.2.1 New Market Entrance Tesco is in the food retail industry which is highly competitive. New entrants in the food retail market may not feel easy but even then Tesco strategy against new competitor should be clear. Like Wall-Mart enter in the UK market by ASDA and create high level of competition for Tesco. (Ref.9, Elizabeth Rigby 2008) in her article for financial time states that: competition test has been supported by ASDA, Ms and some other but was opposed by Tesco and won the case after competition test ruling. 4.2.2 Suppliers Powers Powerful suppliers can create problem for the business even they are really good in the financial performance. Non availability to at high cost products can reduce the profit or even destroy the image of the company when products are not available on the shelves on time. Tesco have numbers of suppliers for each products and some of the products are made by Tesco themselves or with the cooperation of the Tesco. Many products prices has been reduced in recent years as compare to the competitors and is also increasing the debtors or supplier payments days to cut the prices of the products which shows company good control on the supplier announced by the (Ref.10, Terry Leahy, chief executive of Tesco plc 2008.) 4.2.3 Substitute Substitute quality or price of the products can affect the targets and objects of the company. Tesco adopted innovative and learning approach. In Porters five forces model, substitutes refer to product in other industries having the same use and for whom the demand of one product changes with the price of another similar or quite similar product. Management of Tesco focused on price and quality of the product and also timely availability. 4.2.4 Buyer power Buyers or customers are powerful or customers are like king for the business. Companies have no or less control on the buyer but strong brand name can attract the customers attention. Tesco gain really good reputation in the UK market and became largest food Retail Company of the UK. But there is limited number of buyers in the market and in the competitive situation, Tesco has to be really good in price as well as in quality of the products. 4.2.5 Competitive Rivalry Conflict among the existing competitors involves market manoeuvring, which increase product innovation for Tesco. In this situation competitive within the food industry may reduced price and spend money on advertisement to win the market share which may end up on the loss for all companies. In current situation there is price war between Tesco and its biggest competitor ASDA (subsidiary of Wall-Mart) and even then Tesco is performing well and still maintaining number one position in the UK market from many year There are more ways to measure the Non financial performance, like The performance pyramid approach The building block approach The six sigma approach But due to some limitation I used two approaches to evaluate the non financial performance of the Tesco Plc. 5. FINDINGS 5.1 Economic Growth Before I start my research on the economic growth, I would like to briefly discuss the economic environment and growth procedure of the Tesco. Currently Tesco UKs sale growth is slowest since 1990s, group sale gone up by 11.1% as compare to 2007 figure but the group profit increase by 5.7%. The different between sale percentage and profit percentage identifies higher cost of sale and other operating expenses. Tesco is a large group that can cut the prices to win the more customers and can share pain of that lower price with supplier: (Ref.11, Robert Peston, BBC news). And this is the approach, Tesco is going to apply on supplier and asked them to reduce product prices and extend payments terms which also reduces the finance cost. Tesco is growing on a fast track in international markets especially in Asia (814 stores in Asia and Thailand is on top of the list with 476 stores), Europe, and USA region by introducing new names like Fresh and Easy same as WM did by entering as ASDA in the UKs market. During last three years, Tesco international market as numbers of stores grown by 80%, Group sale revenue rose by 20% in total, out of this 46% is UK share, 29% is Asia share and 25% is Europe . Although number of stores are increasing in Non UK market (508 stores open only in 2005 out of which 350 were outside the UK) But about 50% of total group profit is contributed by UKs market. (Appendix A) 5.2 Tesco Operational Performance Bearing in mind the current economic situation in the world where financial crises melting down world biggest financial institutions and other well known companies, Tesco has secured a remarkable position with solid growth globally. There is no doubt about the good operational performance over the last there years. Market share of Tesco and other food retail stores are given below. . Ref.12: TNS World panel, (2008) Tescos share of the UK grocery retail market in the 3 months to 20-05-207 was 31.32%, which is 0.03%below as compared 3 months to 22-04-2007. UK market Share: On 20/04/ 2008 consumer spends  £6336887000 in the Tesco which is 31.1% of the total groceries market in the UK but it reduce to 0.3% comparatively from last time in 2007 market shares in the UK which was 31.4%. Sainsburys share also reduced to 0.4% from last period. ASDA and Morrisons market share rise by 0.1% and 0.3% in this period till April 2008.these figures shows that there are limited number of customers so if one will win then second has to lose. However, Tesco group sale hiked to  £51.8bn in 2008 by employing 440,000 plus people worldwide. Tesco has shown extra ordinary non financial performance and good financial performance when there is price war between ASDA and Tesco. And its expecting to rise in 2009 when fresh and easy stores are really successful in USA. Tesco was successful not only in food or other products items but also remain successful in services business in 2008 by gaining demonstrating growth, breadth of the group supported by increasing strength as a leading internet retailer. Dotcom was an excellent form, with sale in Tesco gone up by 30%, telecoms performed well. And joint venture with O2 turned into profit for this first time in 2008. (Ref.13, Financial Statement (2008). Tesco is not only successful company but also considered to be a green company working for society and environment. Charity, donation and gifts amount of  £4.4 million to British Red Cross. Tesco is also playing an important role in local community and has opened cultural centers in all countries of operation. In recent years Tesco spend  £600,000 for new automated recycling machines for customers in some stores in 2006. Following the community plan in 2006 now Tesco have expand this to nine different countries, bearing together a range of community, environmental and health project, accor ding to local market needs, and also have plan to start this programme in the remaining three countries quite soon.(Ref.14, David Reid 2008) 5.3 Sale Performance UK sale are gone up 6.7% and trading profits grew by7.1%- after Tesco start-up cost in the US and on the Tesco direct TO  £2050m, helped by a solid margin performance. Group sale have increased by 11.1% to 51.8bn in 2008.group non food sale rose 12% to  £11.8bn and none remains an important contribution to Tesco. Total international sales grew by 25.9% to  £13.8bn. People are a little bit more interested in value they have become cannier. But there is an opportunity for Finest food because people are eating out less. She added that furniture, tied to the fortunes deteriorating housing market, had been hit by consumer cutbacks, while pushing promotions and value lines, Tesco had a good track record of margins being pretty steady. The chain has set aside  £450m for its step change efficiency savings program coming year, up from  £350m year end 23/02/2008. Stated by (Ref.15, Lucy Neville-Rolfe.2007). In 2007 Tesco has been knocked out from its leading position in neighb ourhood retailing, mean merging between co-op groups which created UKs largest neighbourhood retailer with a share of 7.9%. However, Tesco not only keep its leading position in the UK market but also improved sale revenue from previous years. Clearer picture about the sale performance can be seen in following chart. (Appendix-A) Group revenue (excluding vat) rose 20%, in the rest of Europe revenue increased by 35% and in Asia by 27% from  £4369m to  £5552m during last three years, UK revenue up but not the percentage as in the other areas of operation, which mean Tesco working on the policy of extending and growing overseas and keep maintaining the position of the as leading grocery retailer in the UKs market where revenue increased 16% from  £29990m to  £34874m over last three years. 5.4 Profitability Analysis Group profit before tax is up by 5.7% or by 15.3% if exclude the last year pensions, here it seems to show higher profit in last year when actually gross profit before tax was not healthy and transferred last year pension against current year profit. This profit smoothing has been forbidden by 1AS. However, these results demonstrate the strength of the group. UK trading profit rose 7.1% to  £2050m, with the trading margins at 5.9%, slightly up on 2007 and 2006. (Appendix-B) Profitability analysis shows Tesco has not deteriorated significantly over last three years. All three profitability measures have remained almost same from 2006 to 2008, there are slightly changes in measures but it went down to the previous position in 2008. ROCE numerator represent profit before interest tax and denominator being the sum of net assets.Net debts dividend creditors excluding asset held for resale (net). Shareholders would obviously be concerned about profit reduction which was 6.2% in 2007 and then 5.78% in the 2008 because when operating profit is low obviously profit for distribution to shareholders should be lower. Earnings per share rose to 20.20p in 2006 (26.95p in 2008). Over last three years group revenue increased to 20% and operating profit increased to 22% when inflation rate was 3% to 4% and cost the products kept increasing but after all these was kept growing and had good control on the prices. Operating profit margin decreased .42% in the UK mar ket its mean company operating cost is higher than the last years, advertising cost going out of control due to high level of competition and war for the prices. Tesco direct cost increased while it price of products remained same or cut the prices to win the customers which affect the gross profit margin. Tescos International markets or non UK markets contributed  £701m to trading profit; in Europe sales raised by 23.9% to  £7.8bn which  £6.3bn in 2007. Trading profit increased to  £379m, up 24.8% in Asia and sale rose by 27.2% to  £6.0bn (2007-  £4.7bn) 5.5 Assets Management Efficiency Tesco total net assets have increased by  £1,331m (in 2007) to  £11,902 and noncurrent assets increased by  £3,633m after charging depreciation to tangible assets and amortization to intangible assets of  £992m. Inventory rose 66% to 243000 in 2008 (from  £1464000 in 2006) compared to sale increased by 20% in last three years while inventory as percentage of revenue was 3.7% in 2006, 4.5% in 2007 and 5.1% in 2008 or 4.4% average over last three years. This constant level of inventory shows Tesco policy to keep sufficient inventory of avoiding inventory shortage and enjoying trade discount for bulk purchase. This can be one aspect on the other hand there is huge difference between the percentage of inventory and revenue so, company should reduced the inventory level and pay to supplier earlier to get more discount or invest this sum of money in short term security to get some returns. Inventory holding period reduced by 3 days (23days in2007 and 20 days in 2008), but over three years inventory holding period increased as it was 14 days in 2006. Inventory holding period need to improve, Tesco is well known food retail store for fresh food and management should improve inventory control system new scanning gaps using hand held computers on constant cycle. Tesco also introduced delivery to stores in shelf-ready packaging which will helps in efficient management of stock delivery on time and improve in turnover period. Trade and non trade payable increased 43.2 and cost of sale gone up 20% during last three years showing consistency while creditors as percentage of coast of sale also remained between 14%-16%. This consistency show trade creditors or supplier not been used as free source of finance and paid them on time. In (Ref.16, Tesco Annual report 2008), Tesco is one of three signatories to the UK Government statutory supermarkets code of practice. It takes supplier relationship very seriously and has introduced in the KPI Steering Wheel. L ast confidential supplier survey on Feb 26th showed more than 90% supplier consider Tesco as reliable, trustworthy fair. T Tescos asset turnover y rose 12% to 1.96 times in 2007 (in 2006 1.75 times) and then reduced 20% in 2008 to 1.56time. So, over last three years assets turnover reduced 11%. This result shows assets management efficiency been affected and it can be seen that  £1 worth of assets earn 11% less than the previous years (before 2006). Non-current assets increased 28% over last three years. Another aspect of reducing current assets and increasing non-current assets can be the Tescos expansion to all over the world opening new stores and exploring new markets, which increased company fixed or non -current assets by using current assets like cash. 5.6 Short Term Liquidity Tescos ability to pay its customers or supplier can be analyzed by Current ratio and quick ratio. Indicators of current ratio show companys ability to pay current liabilities. If all the supplier demand for the payment at the same time, is company able to pay all demanded creditor, can be assessed by quick ratio approach where inventory do include as liquid assets. (Appendix-B) Over the last three years Tescos Current ratio increased 17.3% (0.61:1 from 0.52:1); this is mainly increase 60.75% of current assets. Most likely its due to increase in cash, short term investments and inventory which help to increase the liquidity ratios. Inventory was increasing at high percentage as compare to percentage of sale; company increased the level of inventory its either to get more trade discount or to keep secure the business not to run out of stock. Quick ratio increased 15% to 0.38: 1 (0.33: 1 in 2006) but if compare to industry average 0.57:1 in 2006, quick ratio indicate company is facing liquidity problem. Tescos inventory increased 66% while sale by 20% over last three years. So, this extra 46% of inventory should convert into cash as soon as it can be. By converting inventory into cash will not stable liquidity position but also reduce the holding cost which will affect on the company annual profit. Current liabilities increased 3% while current assets increased by 60.75%, here is big difference between current assets and current liability which shows liquidity position of Tesco healthy while by analyzing quick ratio it seems company facing cash problem and Tesco should convert its current assets in more liquid form (cash or cash equivalent form) 5.7 Shareholder Interest Dividend paid increased 26% to 10.90p (from 8.63p) over three years while 13% increased from 2007 and also in line with EPS.non availability of enough cash and other liquid assets also posed no threat to dividend payments. Tesco announced to pay dividend in line with EPS.A final dividend of 7.70pence per ordinary share brings the full year dividend to 10.90 pence (including 2.80 pence interim dividend).an increase of 13.1% in 2008 as compare to 2007 when dividend per ordinary share was 9.64 and 26.3% as compare with dividend of 2006 when dividend per share was 8.83 pence (Appendix-B) Diluted earnings per share grew by 20.8% to 27.02 pence in 2008 which was 22.37 pence in 2007. Price earnings ratio (P/E ratio) decreased to 14.8P in 2008 from 19.9P in 2007. It shows how much an investor is willing to pay for making one pound return. Earnings per share (EPS) increased 33.4%, investors hesitating for further investing as share price remained almost same although dividend on the investment increased but it is arguable that investor can make money just by depositing into bank accounts and get interest from that deposit without having any risk. Some analysts considered a high P/E is due to overpriced share market value. Highest dividend yield was 2.7% in 2008 over the last three years. 5.8 Balance Sheet Analysis Balance sheet net assets have increased by  £1331m to 11902m while non -current assets increased after depreciation and amortization for the amount of  £992m.Gearing measures borrowed funds against equity, which include retained earnings, provisions, premium and ordinary share capital. Tescos gearing increased by 56.93% compared to 45% in 2007 and 49.4% in2008.company ability to pay interest increased by 8% to 10.70 times from last year figure and 23% over the last three years. Financial leverage continues to improve as net finance costs have reduced in last three years due to good credit control management. Tescos finance cost can be reduced more if company use trade creditor as free source of finance. 5.9 Cash Flow Analysis Overall, the group generated a net cash inflow of  £801m, leaving net debt of  £6.2bn at the yearend 2008 which is  £1.3bn more than the last year. (Appendix-B) Tescos cash and cash equivalent position strengthen and increased 72% in 2008 with cash inflow of  £801m but even than I am not confident that company is able to pay current liability by cash. This is in Tescos plan to increase the creditor payment period and reduce the inventory level to the level of sale percentage. Company should also plan to sale noncurrent assets which are not really in use or giving low productivity to generate some cash. Financial and Non-Financial Key Performance Indicators We operate a balanced scorecard approach to managing the business that is known internally within the Group as our Steering Wheel. This unites the Groups resources and in particular focuses the efforts of our Staff around our customers, people, operations, finance and the community. Its prime focus is as a management tool for the company so that there is appropriate balance in the trade-offs that need to be made all the time between the main levers of management such as operations measures, Financial measures or delivery of customer metrics. It therefore enables the business to be operated and monitored on a Balanced basis with due regard to the needs of all stakeholders. For the owners of the business, it is simply based around the philosophy that if we look after customers well and operate efficiently and effectively then shareholders interests will always be best served by the inevitable outputs of those growth in sales, profits and returns. (Ref.17Tesco Annual Report 20 08) Dependency on UK market to 74% of the total group revenue Nearly one third (31%) of UKs total market share Excellent distribution network and new self-service checkouts systems been introduced Tesco is the worlds third largest grocery retailer with operation in 12 international markets and employing over 440,000 people. 6-CONCLUSIONS 6.1 Objective 1-The effect of social and economic responsibility towards all stakeholders on Tescos business performance. Tesco was recognized as an Example of Excellence in the Barclays Environmental Leadership category at the Business in the Community Awards in July 2008. In 2006, as part of Community Plan, Tesco announced a string of long-term targets aimed at minimizing environmental impact and till now going ahead to achieve these targets. (Ref.18, Press Releases, 18 July 2008). Tesco policy to its customers is key factor of success and (Ref.19, Dr. Paul Temporal) states, When Tesco says, Every little helps, it really means it. Its CRM program is certainly one of the best in the world, and customers love it. Tesco has been principally a food retailer in the U.K., in a mature market that has grown little in the last 20 years or so. That Tesco has grown its business at all which is a source of consumer attraction, when the only route to growth is taking market share from competitors. Tesco is fully aware of its social responsibility and really committed to provide best level of service to all stakeholders. And therefore I believe Tescos relation with local community, government, employees and others stake holders is impressive. 6.1 Objective 2- The effect of Non-financial performance in the UK and outside the UK on Tesco. 30,000 new jobs to be created across the group in 2008 and total number of employee reached to 440,000 in 3738 stores. Tescos plan to open over 11.5m square feet of new group space this year, 80% of it outside the UK. Easy and fresh retail stores in USA opened another door of haven for success.  £5bn- plus property funding programme going well.  £200m transaction with the prudential plc completed before the year ended 2008. Strong start in 2008-13% growth in first five weeks Clearly Tesco had a strong growth across the group and produced above the competitors and average industry performance, and therefore I do believe that Tesco deserved to be number one retail grocery store of the UK and third largest in the world 6.3 Objective 3- The effect of financial performance including profitability, cash flow, assets managements and liquidity analysis of Tesco plc. Terry Leahy, Chief Executive, comments: The breadth of the Group and the strength of our business model have enabled Tesco to deliver another year of double-digit sales, profit and earnings per share growth in challenging market conditions. We begin the new financial year confidently with a good start in the UK, excellent progress in our established international markets and promising early performance from our investments in future growth, particularly in the United States, China and Turkey. Clearly, not only was Tesco, profitability, with good control of its costs, but also had a high level of total assets over total liability which present Tescos balance sheet really strong. But if we focus on the quick ratio in liquidity situation it will not be difficult to analyse that it may face cash problem although there is positive movement in 2008. Therefore I believe that close analysis of cash flow statement will reflect cash shortage to Tesco and can be seen from the Tescos quick ratio 38% compare with industry ave rage 57%. 7. RECOMMENDATIONS At a time when others appear to be faltering in their international commitments, Tesco is getting stronger (Ref.20, Rachel Sanderson 2008) Tesco should increase the number of stores in the low-income. Since Tesco strongly highlights its commitment to food access in low-income communities. It should be identified a goal for how many of Tescos store locate in the communities that have low rate of income and they are food insecure. Tesco needs to insure that a substantial percentage of its store-based peoples are full-time employees who are paid a reasonable wage and have affordable quality health benefits. Tesco should establish a positive relationship with labour unions and not seek to influence employee decisions on whether to join the labour unions or not. Tesco should make a mechanism for community input into its operations. Advisory committees or similar community mechanisms for dialogue that can help stores stock products desired by local customers or community. Tesco should establish mechanisms to increase local sourcing for its products and support small local farmers. It could help to make this goal through labels identifying the origin of product like from California or from Arizona. Tesco should design and site new stores according to the principles of green design and smart growth that will helpful to minimize climate change impact. Tesco should achieve green building certification for its stores to demonstrate commitment to sustainable design, and should make information on stores environmental features available to customers and community member. Tesco should accessible to pedestrians, bike riders and public transportation and specially for disable people reasonable measures should in place that make easy their accessibility into stores. The authors view Tescos entrance into the U.S. market as an opportunity to challenge all food retailers to think broadly about the social and environmental impacts of the way they conduc t their businesses. Perhaps Tesco spokesperson Simon Uwins (2007) put it most aptly in describing why he loves retailing, Its so democratic: our customers and our employees will decide whether or not weve been successful in creating a great shopping trip and a great place to work and thats how it should be.1 Tesco currently paying huge amount as interest and foreign exchange rate change, Tesco should deal in local currency or open foreign currency account with the reserve Tescos International expansion in lucrative markets like India, China US would help expand customer base but bearing in mind mature markets like US would not be an easy task as it is the home to WM parents of ASDA. Research needs to be done and lesson learned from Marks Spencer and Sainsburys expansion in US. Tescos inventory holding period should be improved. Use just in time method (where it is possible) or make an arrangement with supplier to build up system according to the demand of the Tescos custo mers. Tescos sale over last three years increased by twenty percent while inventory gone up by sixty six percent. Tesco should reduce the level of inventory to a little up then the sale that will also reduce the holding cost and handling cost. Tesco should transfer some of its fixed assets or less liquid assets to current assets. It improves the level of cash and liquidity ratio. Grocery retail industry average for liquidity ratio is 57% while Tescos liquidity ratio in 2008 was 38% which is below the average industry rate. Tesco should use trade and non trade creditor as free source of finance. Current assets increased 60.75% (mainly inventory) while current liabilities increased by 3% only so, the difference of percentages can be used as short term investment and gain return on it. BIBLOGRAPHY Tesco to create UKs biggest store. Metro 27 November 2006. OLeary, z. (2004). The Essential guide to doing Research. Sage publication Ltd, London. SjSU, (2004). Case Study Approach to Learning, California USA. https://www.sjsu.edu/depts/it/itcdpdf/casestudy.pdf: ( visited 28February 09) Saunders, M. Lewis, P. Research Method for Business students. 3rd addition, Essex: Person education Ltd. Bell, Anthony J. (1995), Doing your Research Project, A guide for first time researchers in education and social science. 2nd Ed: Open University press. Accountancy College, (2008). ACCA, Paper F5, Performance Management, study text book, Holborn, London. Creevy, Jennifer (27 October 2008).Tesco extend supplier payment terms, Retail week. https://www.retail-week.com/Food/2008/10/tesco_extends_nonfood_supplier_payment_terms.html (visited 02 March 2009) Porter, Michael E. (1980). Competitive Strategy, 1st Ed: USA. Rigby, Elizabeth (2008).Tesco Victory after Competition Test Ruling, Financial Time, 29 November 2008. Leahy, Terry (2008), Tesco tells suppliers to cut the price, Tesco Annual Reports 2008, Tescoplc.com, UK. Peston, Robert (2009). BBC News, BBc business news 27, February 2009, UK. TNS, World panel (2008). UK Market share, https://en.wikipedia.org/wiki/Tesco (visited 3rd March 2009 ) Annual financial report, Tesco plc (2008). Growth in Non-food Sector, https://www.tescoreports.com/ (visited 26 February 2009) Reid, David (2008), Non- Executive Chairman. Tesco Annual report 2008, Tescoplc.com. UK. Neville-Rolfe, Lucy(2007). Tescos corporate and legal affairs director. The guardian 2nd August 2007. Tescos Annual Report 2008.Assets management Performance, Page number67 69. Tescos Annual Report 2008.Key Performance indicator, Page number7. Press Releases 18 July 2008. Tesco to get power from straw. Media release, Tesco Plc. https://www.tescoplc.com/plc/corporate_responsibility/news/press_releases/pr2008/2008-07-18/ (Vis ited 14 March 2009) Dr Temporal, Paul. Tesco- the brand experiences everything, Hi-Tech Hi-Touch Branding, January 2001. Sanderson, Rachel (2008). Reuters, Recommendation, from Tesco Plc Annual Reports 2008 https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=AHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=AWTmodLOC=L2-LeftNav-17-FinancialStatementsHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=AHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=Aperiod=A 16-3-09 Uwins, Simon, marketing a spokesperson, Growth in: USA. https://www.tescoplc.com/plc/ir/pres_results/presentations/p2007/tesconov07/ introfresheasy.pdf (Visited 16 March 2009) All annual reports and Executive Summary has been taken from Tescoplc.com, https://www.tescoplc.com/ (Visited 26 February 2009 and different times during project.) APPENDICES APPENDIX A  2008 2007 2006 3-Year Change  £bn  £bn  £bn Group Sales( £bn) 51,773 46,611 43,137 20% No of Stores 3,751 3,263 2,672 40% Non UK stores 1636 1275 774 111% UK Stores 2,115 1,988 1,898 11% REVENUE EXCLUDING VAT UK 34,874 32,665 29,990 16% Rest of Europe 6,872 5,559 5,095 35% Asia 5,552 4,417 4,369 27% Total 47,298 42,641 39,454 20% OPERATING PROFIT UK 2,097 2,083 1,788 17% Rest of Europe 400 324 263 52% Asia 294 241 229 28% Total 2,791 2,648 2,280 22% OPERATING MARGIN UK 6.0% 6.38% 5.96% 1% Rest of Europe 5.8% 5.83% 5.16% 12% Asia 5.3% 5.46% 5.24% 1% Total 5.9% 6.27% 5.78% 2% Ref.22, Financial statements Tesco for year of 06/07 and 07/08 APPENDIX B  2008  £m 2007  £m 2006  £m 3 years change PROFITABILITY ROCE 12.9% 12.6% 12.8% 1% Operating Profit Margin 5.9% 6.27% 5.78% 2% GP Margin 7.68% 8.12% 7.67% ASSET MANAGEMENT/ EFFICIENCY Inventory Turnover (Days) 20 23 14 42% Inventory as a Percentage of Revenue 5.1% 4.5% 3.7% 38% T. Payable as % of Cost of Revenue 16.7% 15.3% 14.0% 19% T. Asset Turnover (Times) 1.56 1.96 1.75 -11% SHORT TERM LIQUIDITY Current Ratio 0.61 0.56 0.52 17% Quick Ratio/ Acid Test Ratio 0.38 0.32 0.33 15% SHAREHOLDER INTEREST Return on Shareholder Fund 23.5% 25.1% 23.7% -1% Dividend Per Share 10.90p 9.64p 8.63p 26% Earnings Per Share 26.95p 23.61p 20.2p 33% Dividend Cover 2.48 2.32 2.34 6% Price Earnings Ratio 14.8% 19.9% 16.5% -10% Dividend Yield 2.7 2.2 2.6 4% FINANCIAL LEVERAGE Net Gearing 56.93% 45.41% 49.41% 15% Interest Cover (time) 10.7 9.9 8.7 23% Ref.22, Financial statements Tesco for year of 06/07 and 07/08

History of Human Resource Management - 1806 Words

People Management In this assignment I will be looking at the role played by the Personnel Management to Human Resource Management (HRM) for Sainsbury s and there historic developments. I will also be looking at how the existing HR function for Sainsbury s could be developed to work more effectively with the rest of the organisation. Human Resource Management (HRM) is fundamentally another name for personnel management. It is the process of making sure the employees are as creative as they can be. HRM is a way of grouping the range of activities associated with managing people that are variously categorised under employee relations, industrial/labour relations, personnel management and organisational behaviour. Many academic†¦show more content†¦Through these pledges Sainsbury s aim that all staff can work without fear of discrimination, harassment and bullying and that all colleagues, job applicants, customers and suppliers should be treated fairly, regardless of: • Race:- colour, nationality, ethnic origins or community background • Gender:-gender realignment, sexual orientation, marital or family status • Religious:-or political beliefs and affiliations • Disability • Real or suspected infection with HIV/Aids • Membership or non-membership of a trade union • Differing working patterns such as part time • Age I believe Sainsbury s Supermarkets employs over 145,000 people. Of these, 60% are part-time and 40% full-time. 62% of employees are women. Sainsbury s motivates there staff by undertaken the following issues:- • Save-As-You-Earn scheme for supermarket staff offers chance for company shares to be bought at a 20% discount • A profit-sharing scheme allows employees to have shares or cash. Roughly 50% of the company s shares are owned by current or former staff and it is this scheme that is largely responsible. • Under a staff discount scheme, employees receive a 10% reduction on products bought from the company. • Long service awards are given to staff with 15, 25 or 40 years service. Also, the company operates performance-related pay and bonus schemes for middle and senior managers. ManagingShow MoreRelatedThe History of Human Resource Management1460 Words   |  6 PagesThe History of Human Resource Management Human resource management  (HRM, or simply  HR) is the  management  of an  organizations  workforce, or  human resources. It is responsible for the  attraction,  selection,  training,  assessment, and  rewarding  of employees, while also overseeing organizational leadership  and  culture, and ensuring compliance with  employment and labor laws. 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The Impact of Internet on Society Free Essays

The internet was thought of back in the early 1960’s as a way for scientist to share there theories, for other computer scientists to share there knowledge of the this new thing they have created. What we call the Internet today hasn’t always been called the Internet was first thought up to be a giant network. Leonard Klienrock at MIT published the very first â€Å"packet switching theory† in July 1961. We will write a custom essay sample on The Impact of Internet on Society or any similar topic only for you Order Now Two men named Thomas Merrill, and Lawrence G. Roberts connected TX-2 computer in Mass. to the Q-32 in California, with a low speed dial-up telephone connection, in other words created the first â€Å"wide- area network†. Internet Society) From that point on the Internet was born. People all over the world were trying to get their hands in this new accomplishment and try to clam some of it for themselves. As time goes passed things are add to this network such as scientific studies, research papers of all kinds, people started to write programs to put on here and let people talk to each other. Companies started to advertise on the Internet by making pop up adds. Companies even started to do business on the Internet. To this day the Internet is still growing. People are using the Internet to make a living, to talk to distant relatives, or even friends talking to each other. People use the Internet by shopping online, or by even selling things online. You can even find help organizations online. Email today is pretty much the Untied States Postal Service; you don’t need to buy stamps to mail somebody a letter. You can even send someone pictures, and movies over the Internet. All you need is an email address to send anyone an email. That brings me to my first good a bad point, all you need is an email address to email anyone something. You receive almost anything in an email; from receive viruses, hate mail, junk mail, and spam. Another good impact that the Internet has made on society is online auctions. One of the most recognizable online e-trade sites is Ebay. Ebay originated in 1995. Now you can find anything from nuts and blots to a 1999, BMW 3-Series. Ebay also represents stores that include Wal-Mart, Kmart, private dealers, car dealerships, and a lot of other stores. The company in the second quarter set a new net record or brings in 110 million dollars. It was 102% over the same period last year. (USA Today) This could also be very bad to the companies that are not with Ebay that are trying to make a living off of the net. Most individual businesses don’t have the money to have Internet sites. So if there is another company that sells almost the same items and they have the money to own their own web site then that can really hurt the other companies. The Internet also helps out special organizations that want to be recognized for what they do. But for some none profit organization that is very hard. It does cost quite a bit to run and host your own web site. As Curt LaBond puts it â€Å"It can’t only help build a stronger society, it can atomize it. † But the Internet can also put out bad publicity for these individual organizations. (LaBond) From when the Internet was introduced there has been many good things come about. There are also bad things that came from the Internet. Many people take the Internet for granite and miss the whole meaning of the Internet. People try to harm the Internet by putting viruses out there that will shut some ones computer down. How to cite The Impact of Internet on Society, Essay examples

An Persuasive Essay on Whether the Novel Annas Story by Bronwyn Donaghy Should Still Be Taught in Todays School free essay sample

Story by Bronwyn Donaghy is an informative part biographical text, which retails the life and death of Anna Wood, a fifteen year old girl who took an ecstasy tablet at a rave party in 1995 and died. This text is still relevant to teach in today’s Australian schools because drugs still exist in today’s society, teenagers still take risks and the novel Anna’s story will always be a constant reminder of the consequences of drugs. Following Anna’s death, Donaghy wrote this text to suggest that parents need to educate their children about safe risk taking and drugs so the unfortunate event of Anna Wood does not happen again. Anna’s story is a clear warning to both teenagers and parents, motivating them to try to change future outcomes. Donaghys expository text is still relevant to teach in today’s Australian schools for the simple fact that drugs and all the dangers that come with it, still exist in today’s society. We will write a custom essay sample on An Persuasive Essay on Whether the Novel Annas Story by Bronwyn Donaghy Should Still Be Taught in Todays School or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We live in a society where getting a hold of drugs is as easy as going to the shopping centre and purchasing a bag of lollies. It is one of the many reasons that teenagers and even some children as young as twelve are still taking drugs and are not realizing the dangers that come with it. Drugs can kill, it is for that reason that makes it vital that teenagers must be educated to learn that even though drugs still exist, it is still a bad choice. Anna’s story provides facts that drugs do indeed implicit dangers and that drugs can kill. For example Kate Ceberano said â€Å"†¦. drugs one way or another kill! By kill I don’t exactly just mean ones mortality. I mean ones initiative, ones ambitions and dreams, and most importantly, one’s mind† (pg. xii). Yes, drugs still exist and yes teenagers will still continue to take drugs whether we like it or not, we just have to keep educating them and keep showing them the dangers of it. That’s exactly what Donaghys was trying to do in Anna’s story, with providing readers with factual evidence to show teenagers that even though drugs seem tempting and is seen to be a ‘must have thing’ the dangers and risks of taking is too high, the price you pay might be your life. Teenagers today still and will always take risks, whether they are safe ones or dangerous ones. Everyone takes risks, whether it is related to peer pressure, value of belonging or fitting in. â€Å"†¦one way or another all teenagers do it. , â€Å"Taking risks is a natural part of growing up. Breaking down the barriers of childhood, doing things they’ve never done before, going places they’ve never been- this is all part of the process that’s involved in establishing themselves as independent individuals† (pg. 98). Unfortunately not all risks that teenagers take are healthy and safe, most of them are dangerous. Some teenagers will do whatever it takes to fit in, â€Å"†¦win the respects of their peers, to prove they are mature† this resulting in them taking unsafe risks. Anna Wood in Anna’s Story clearly highlights a teenager who unfortunately took a bad risk with drugs and died. Bronwyn Donaghy is trying to show readers, while using Anna wood as an example, to be careful and have a little thought in the risks that they take. So nobody else’s choices and risks lead to death. Anna’s Story should still be used in today’s Australian schools as it will always be a reminder of not only the consequences of drugs but also a reminder that drugs can affect anyone. A number of teenagers today take drugs it is no surprise, they all know the consequences and dangers of it. But the majority of teenagers who do take drugs somehow think that if they only take little doses of drugs, or only take it once a week, or even only take once every now and then, think that because they don’t consume drugs as much or they are not heavy drug addicts or they are not addicted, that the affects or consequences of drugs will not affect them. But they are wrong, you could be anyone an intelligent or smart person, a drug addict or even an ordinary person, drugs will affect you no matter who you are and no matter how much you take. Anna Wood is a clear example of an intelligent, bright, smart girl who died after taking drugs. And as I said previously drugs still exist, meaning teenagers still need to reminded how drugs can affect a life, Anna’s Story clearly does this. Donaghy wrote Anna’s story to open the eyes of both teenagers and parents, and make them try and learn from other peoples mistakes, and by other people I mean Anna, so tragedies like hers don’t ever happen again. In addition because Anna wood in Anna’s Story is around the same age group as most teenagers, I think teenagers will relate more to her, understand the whole situation better, take the matter a little bit more seriously and even maybe pick the book up and read it.

Online Grading System free essay sample

?Information technology has developed the lives of human beings and made the it easier by the various kinds of applications. There are many tools, technologies and systems that have been produced and invented through the use of IT. ?Computer works in many ways that is totally different from human beings. The flow of works in an automated system can differ quite considerably from the manual system. In present time, IT in business is really rising, making it extremely in demand in our society. It helps us in minimizing time in doing our works and brings us a quick result in a short period of time (Howard, 1990). These computer technologies usually use in different aspects because it helps a lot in terms of their services. ?Nowadays all the businesses are shifting into computer based system because its purpose is to give an efficient and easy way of doing activities with less time spend daily. We will write a custom essay sample on Online Grading System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This application exceeds even in educational institutions and the finest example is library management system. In essence, grading is an exercise in professional judgment on the part of instructors. It involves the collection and evaluation of evidence on students achievement or performance over a specified period of time, such as nine weeks, an academic semester, or entire school year. Through this process, various types of descriptive information and measures of students performance are converted into grades or marks that summarize students accomplishments. The increasing usage of computers in the mid and late 90’s gave way for the birth of a new technological advancement that had assisted teachers and professors to easily compute for grades, the digitization of spreadsheets. The main advantage is speed, since no manual calculations are needed, and confirmation of grade for any further necessary alterations can also be performed more quickly than traditional means. Managing grades had become easier for instructors when using electronic spreadsheets. Project Context ?The project entitled Online Class Record Management System is an online grading system that deals with recording of grades, monitoring the grades of the students, updating the teachers on Department of Education’s announcements and updates the parents on the current status of the grades of their children. ?The main problem of manual computing of grades is that the recording of grades are taking more time. This may result to delay in updating the students performance every term. Another problem is that the students are not observed well. As teachers take time to manually compute and place the scores of students in a record, it also eats the time that may help in assessing a students analytical behaviour, his interpersonal relations with others, and rooms for academical improvement. Here in the Philippines, as we continue to improve the needs of education, we see the need to improve efficiency in calculating grades that can start as baby steps in the future of academic innovation. ?Online grading system is a website that will record the input grades and automatically calculate it. This will keep the teachers go along with the technology. This will show the ranking or the statistical graph of the all the students per year level that the teachers are holding. This will be the way to monitor the students. This website also has a features that will send the scores of exams and class records of the students to their parents. Purpose and Description The proponents analyze the findings in system evaluation to improve and apply the suggestions of the respondents to the proposed system. Purpose. Now a days, people are more interacted on computers especially on internet where they can access private data and use this to give them accurate and fast way to accomplish their tasks. The proponents developed a website that helps the teachers in recording and monitoring the grades of the students. This proposed system helps the instructors, teachers or professors in grading the students in the fastest way. This can help them save time and effort instead of wasting lots of days computing and give a lot of effort in arranging and clearing before passing it to the principal or other head of the school. Online grade posting can eliminate the need for progress reports, saving paper in printing, thus making a paperless grading system. An online grading system is a quick and efficient way for teachers and parents to interact with each other for a positive education experience. Through online grading system, teachers can post the grades of his students, at his convenience, thru the website of the school in internet. Students can also view their grades anywhere and anytime in just one click. Description. The theoretical framework shows the Input-Process-Output of the proposed system. Manually, the teachers record the grades in a class record book. All activities in the classroom is indicated in that book such as exams, activities, quiz, homework and recitations. In the proposed system, the manual recording of the grades is improved by the use of Online Class Record Management System. This is website that will make it faster and reliable. The proponents study and analyze the results of the system evaluation and apply the suggestions of the defendants in the proposed system. In the data gathering stage, the information and suggestions of the respondents are gathered to give the proponents the idea and knowledge in planning the proposed system. In system analysis stage, the flow and diagrams are worked out for the designing the phase of the proposed system. In system designing stage, the proponents make a systems interface and layout. In system developed stage, it includes coding and testing of a system and the output is the Online Class Record Management System and that will be evaluated by the defendants. Objectives Teachers have been using class record book for past long years. Manually recording grades of the students leads them to rush and not organized records. Due to increased number of the students, the teachers has difficulty in organizing and maintaining the records of the grades. General Objective. The general objective of the study is to design, develop and deliver a website that will manage the daily recording and computing of the grades. ?Specific Objectives. Specifically the project sought to accomplish the following: 1. To establish an online class record that can compute the grades of the students (K-12). 2. To motivate the teachers to use the Standard Computing of Grades from the Department of Education (DepEd). 3. To preserve the connection between the teachers and the parents regarding the reports and records of the student. 4. To make a statistical graph to see how many students needs guidance and to maintain the respectable records of the students that good in academic activities. 5. To develop a well – designed system that would: a. provide the computation and print out the grades of the student b. build a messenger that can send grades for mobile phones c. give an opportunity for the teachers to reduce the time spends d. provide a database that can handle all information from the user and handle the grades e. provide an easy way to pay the premium account for the users f. build an easy update on the news and announcement from DepEd g. build a connection for all the teachers that uses the system Scope and Limitations The teachers are manually record the grades of the students for the past years. This section presents the scope and limitations of the project. Scope. The scope of the study aims to help the teachers to reduce time spend in recording and gathering the grades of their students. This study focuses in computing and managing the grades in the fastest way. This study contains information from Department of Education (DepEd) that help them update from the announcements. This will also benefit the parents from the messenger that sends them the scores of their children in their examination through text message and E-mail. It can also monitor the students that need the supervision and attention on their standing in academic subjects. Online class record management includes the printed document of the grades for passing the overall grades to the head of their school. ?Limitations. However, accessing this website also has limitations. This website cannot be access without the use of internet connection. The user must have an Internet connection in order to browse the system. One of the reasons why the proponents develop this system is to help the individual teachers in managing their class records on the fastest and accurate way. The system itself cannot provide any special attention for any other institution specially schools. †¢ . COM. Web Hosting of the site will only be available for couple of months including the final presentation date. †¢ Non-reply SMS. This system will notify the parents through SMS that the message from the system is not valid for replying. †¢ E-mail Reply. This system is only valid to have a reply using an E-mail address of the user as the receiver. †¢ Forum Friendly. Only users that has an account can comment in the forum section of the system. †¢ Payment. This system will give only one (1) year free access for the users. If the user wanted to extend the subscription there will be an in charge payment. CHAPTER 3: TECHNICAL BACKGROUND This chapter contains four (4) sections, namely: Research Approach In Fair Isn’t Always Equal: Assessing and Grading in the Differentiated Classroom, Rick Wormeli does not mince words as he calls for teachers to engage in honest discussion about grading: There are some aspects of teaching that we keep in cages in hopes they will never escape. . . . We don’t share our concerns with our own grading approach or that of a colleague’s often, and we don’t spend time with each other determining the meaning of a C, an A, or discussing what constitutes a 3. 5 on a rubric. . . . The day is upon us, however. It’s time to talk about grades, grading, and report cards openly, if we haven’t before, questioning assump- tions, embracing alternatives, and focusing on the promise of what teaching and learning can be. (89–90) Methodology Requirements Analysis Systems Requirements Research Approach †¢ It refers to the research method to be used in the project study. Research method is a technique used in conducting a research. For example, conducting data collection, data analysis techniques, sampling techniques, etc. Methodology †¢ It refers to the software/ system development methodology. †¢ In software engineering, it is a framework that is used to structure, plan and control the process of developing a program/ software. (diagram lang to ng process ng website kung paano tumatakbo) Requirements Analysis †¢ In systems engineering and software engineering, encompasses those tasks that go into determining the needs or conditions to meet for a new or altered product, taking account of the possibly conflicting requirements of the various stakeholders, analyzing, documenting, validating and managing software or system requirements. (feasiblity namin to) Systems Requirements †¢ This section lists and discusses the hardware, software, peopleware and network specifications used during development and implementation of the software project. (hardware, software specs namin to) pakiexplain na lang ate na eto yung mga nilalaman ng chapter 3 namin. eto ung papacheck ko na pwede kaduktong nitong chapter: Technical Background This chapter still focus on system analysis of the project. The data gathering is written here and other observations are also indicated in this chapter. System analysis is defined as the process of studying a procedure in order to identify the projects goals and purposes and create systems and procedures that will achieve them in an efficient way. This chapter serves as a resolution in the last chapter (see chapter 2). In that chapter, the problems that may encounter in developing this system are discussed. The chapter 2 is the source of a theoretical basis for the project while in this chapter includes the observations in making the data gathering. This serves as the section of interviews, questionnaires and surveys that the proponents do.

Magnolia Therapeutic Case Study Essays - Abnormal Psychology

Magnolia Therapeutic Case Study Essays - Abnormal Psychology Magnolia Therapeutic Case Study Magnolia Therapeutic Case Study Magnolia Therapeutic Solutions, a well-known nonprofit organization in New York City, provides psychotherapy for clients who have been through a traumatic experience and are diagnosed with Post Traumatic Syndrome Disorder (PTSD). Because of the high demand for the services, and the generous amounts of grant money the organization grew quickly. When the tragedy of 911 happened the city of New York requested Magnolia to deliver services to the victims of the tragedy and in return a large one-year grant was provided to the organization. While preparing the budget for 2002 the founder of the organization, Mary Stewart, believed the grant received from the city of New York in 2001 would be renewed. Mary also expected the development department to raise more grant money than previous years. In the end the organization was $500,000 short in the 2002 budget resulting in the necessary layoff of one-third of the staff. The organization ultimately became stagnant over the few years following th e shortfall and layoff of the staff. My Decision versus the Boards Decision The board of directors for the organization decided to approve the budget. The decision was based on the financials and budget from 2001. I would have decided to do the complete opposite. I would have come to the decision to reject the budget Mary was anticipating money she was not promised or even sure would materialize. Mary just took for granted that the city of New York was going to renew the 2001 grant, and this did not happen. It would have been more feasible for Mary to create a budget not to include the grant money from the city that was given in 2001 because the money had not already been granted. Causes of the Problem One cause of the problem is that Mary created the budget to include the money that was granted to the organization from the city in 2001. However, that money was granted for one year so Magnolia could meet capacity issues that resulted in increased demand for services after the 911 terrorist attacks in NYC. Because it was granted for only one year it should not have been automatically assumed that the city would renew it. Another problem is the growing demand for psychotherapy for individuals with PTSD. The population diagnosed with PTSD is growing and the treatment for this particular diagnosis can be lengthy. The 911 terrorist attacks left many people depressed, sad, and in shock. These are symptoms of PTSD and issues hard to deal with. Unfortunately, this is not a problem that can be handled differently. It is not a problem that could have been predicted nor can it be predicted if it will ever happen again. Differences between a Nonprofit and a For-Profit Organization?s Inability to Thrive Nonprofit and for-profit organizations acquire revenue differently in that nonprofit organizations rely on grants and donations. For-profit organizations rely on income generated for services rendered therefore they tend to charge steeper prices for services. Nonprofit organizations accrue expenses with the understanding that the revenue made from grants and donations is the only funding available to settle the expenses. For-profit organizations accrue expenses knowing the revenue generated from service income is the funding available to settle expenses and if higher expenses are generated, prices for services can be increased to generate more income. Often times, however, increasing the prices causes clients to venture elsewhere for services causing and inability for the for-profit to thrive. Magnolia?s Deficit in Terms of Risk Management ?Risk management is concerned with protecting the financial, human, and other resources of a human service agency and providing products and services in a responsible fashion? (Martin, 2001, p. 187). In creating a budget for 2002 using the expectation that NYC was going to renew the grant given in 2001 showed Magnolia with a deficit in protecting the financial resources as well as the human resources. The shortfall the organization suffered because of the grant from the city not being renewed, ?Mary was forced to lay off one third of the staff? (University of Phoenix, para. 5). If the budget had been created realistically without the expectation of the grant they could have prepared for the monetary difference and adjusted accordingly preparing for

Brand launches by agencies, an arrogant pursuit of tactical Essay

Brand launches by agencies, an arrogant pursuit of tactical opportunism which misunderstands the core competences of an advertising agency or a profitable opportunity to earn respect from clients - Essay Example ly focused on how firms try to capture target markets by setting an oligopolistic trend, characterised by an arbitrary controlling mechanism which tap the instinctive faculties of the mid of customers (Jones 1998a:33). There is hardly any room for argument that such practices are, or in fact should be, assessed on the basis of righteousness or reason. This is because any firm or production house reserves the intangible right to maximise its profit by operating within a legitimate proviso. What is still vaguely understood by the proposition of branding is that it is primarily based on creative usage of available resources, and yet, it tends to expand its scope and field of implementation through quantitative measures. The fundamental dualism inherent in these two mechanisms makes it a complex issue to address. Majority of the pioneering ad houses, famous for their innovative business strategies, adopt not so frequently tried means to promote their brands. It is the uniqueness of approaches to what can otherwise be termed as routine brandishing of various products that sets the boys apart from the men, so to speak. As for creating an oligopolistic market and seizing it at the right moment, brand equity plays a defining role. While most of the top brands offer more than what is generically expected out of a non-branded product having similar attribute(s), the topnotch players disseminate their products in a way that encourage fairness and transparency. Brennan et al. (2007) argue that in our age of heterogeneous competition, the chance of discreet marketing can never be discarded altogether. Therefore, retaining the credibility value of production should always be prioritised, regardless of the business model espoused by the concerned firm (105). In line with this principle, it is imperativ e to give out a fair deal on the principle of equity. It will let shareholders and customers feel confident and assured about the products that they want try out for

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State and internationalization of Society - Literature review Example He states that the United States has led a campaign to unify the world (5). He cites the example of the export of democracy to nations in the former third world and the provision of support for development in other nations of the world. This, in his view creates a definition of Americas position as a dominant superpower in the world today. Also, he points out that the global bodies, including the United Nations and other international groups have over the past 60 years supported in the even development of nations and communities in the world. This has led to more nations coming together to achieve things (13). Etzioni identifies that the co-operation of nations under numerous banners has caused nations to live according to harmonised structures and systems. He also indicates that nations do a lot in terms of co-operation like transnational co-operation in commerce, banking, internet, health and research, environment, human rights and crime prevention. This was defined in the section which he called the new safety architecture. The new safety architecture is a concept that is steeped in the fact that nations are better off by co-operating and sharing some resources to achieve ends that are common to them. This is because when nations work together, they get to create a leverage that enable them to get optimum results from limited resources. Also, there are some activities that can only be achieved effectively when nations come together to work on them. Some of these activities include counter-terrorism, cross-border crime prevention and other similar drives. It is thus counter effective for any nation to attempt to live as an island. So he argues that authorities in nations are bound to work together to achieve results and common objectives that are in their best interest. On the individual level or amongst the ruled, there are increasing activities like the Internet, communication technology and the observance of similar

Marrige how should it be defined Essay Example | Topics and Well Written Essays - 1000 words

Marrige how should it be defined - Essay Example Per se, wedding engages three main functions in American, primarily Christian culture. Firstly, it identifies the unification of men and a woman, both in the eyes of the cathedral and of culture. Culture en bloc distinguishes the pair as unified and thus, various societal rules and beliefs are applied. Secondly, marriage identifies the pair under the rule as a tied unit. Partners are included in tax returns, possession of property is defined in prenuptial contracts, and the responsibility rights over kids are classified, with a whole host of additional lawful contracts. And thirdly, marriage identifies the rights of cohorts over each other. This generally consists of sexual and emotional exceptionality with the shape of a metaphorical relationship between the pair. Therefore, marriage is mainly about acknowledgment; societal, religious, lawful and private relationships are fashioned that are intended to justify the associates both as a pair and culture. Whereas the philosophies of "tying" do serve up constructive points, the form acquired by the current marriage system in America is, in lots of cases, mainly disparaging and off-putting. This isn't equivalent to that the idea of wedding is not correct, just that the ways by which it is defined is turning out to be more and more disparaging in America. Persons on both sides of the wedding controversy mostly have the same opinion that a culture will (and should) have organizations to carry out such kind of tasks (Lyla H. O'Driscoll). One major difficulty with matrimony in America is the stress on a partner's responsibility. At the same time as obligation between two cohorts is of immense value, in lots of ways wedding doesn't direct but rather pins down two associates. Firstly, and most understandable, is the limitation upon sexual and emotional relationship. Even as this perception shows prima facie optimistic, a closer inspection discloses that the restrictions placed on the pair may or may not be just that. How does the limitation of one associate do well to a pair In lots of cases, it comes out that the other half suits most requirements. But, wouldn't the accomplishment of the entire needs be even more pleasing The completion of a partner's requirements would come out to be the most important objective of any strong bond. But can any partner offer for every requirement of the other The answer is, certainly, not essentially. Marriage that is meaningful for companionship can be hetero-sexual, homo-sexual and p olygonal. Thus, this description of the characters and promising significance of wedding for wives is in agreement with the conceivability of various types of wedding (O'Driscoll, p. 136). In such cases where one associate just can't take care of the entire requirements of another one, what's the problem in having another associate On the basis of various grounds there is nothing 'wide of the mark' with this opinion but the ethical ruling of mostly Christian's morality in America squabbles this preference. I would, as a result, propose that 'common sense' and reasonableness somewhat than theological "way of thinking" be applied to the dilemma on the way. A method of "permissive matrimony" whereby "persons can decide, within extensive restrictions, the categories of human relations they desire to practice. All persons would be allowed to decide without any restraint" (Lawrence Casler). The

Importance of note-making

Importance of note-making CHAPTER 1 INTRODUCTION The Importance of Note-Making During FEST program we meet many modules. With regarding to its own behavior we have to follow learning techniques to remember all the important points. As we cannot hold them all in our mind, we will have to use a record to gather all the information. To record something we have to improve our listening skills. As we record something we will have to pay our attention for our work. That record can help us to recall and understand the lesion in a later time and saves our time. So it is very important to make effective notes. During lectures, lecturer presents more information than shows in slides. Sometimes they give useful tips for assignments and for exams. So it is very important to write down hints. When we are in a classroom or in a lecture hall, we must concentrate our mind on the lesion to grab all the information and to comprehend the lesion. That kind of a concentration is built by making notes. So Note-making is very important as it involves us in the learning process. And whenever we read something we have to write down important points as we cannot hold them on mind. Making notes allows us to reduce the information in to manageable size. When we are studying for exams a lot of material has to be covered. The key points should be extracted from lecture notes and text books. It is an aid to exam revision. Making notes helps to think and understand the subject. The history of Note-Making goes far about 1979. Tony Buzan was the person who invented the concept of Mind Mapping. With using images and patterns he developed the main idea up to a successful invention. So now it has become most popular among most of the academic students. Types of Note-Making Methods Note-Making mainly involves with selecting, analyzing, summarizing and organizing information. Although there were many Note-Making methods with different strategies, we only consider five methods that suits for FEST program in this research. Split-page Format. ( A narrative Note-Making method) In Split-Page Format method the page should be divided in to two columns and in one column there will be standard notes and in the other, the summery. This method can be used to write down lecture notes. [6.1] Diagram/Pattern Format. (A visual Note-Making method) In Diagram/Pattern method the information is presented with using a diagram. The main topic and the related ideas should be linked together as it implies a complete meaning. This is a kind of visual learning technique.[6.1] Mind Map. (A visual Note-Making method) In this method the information and important points are presented through a map which contains images. With linking one another, the information can be elaborated according to our own creativity. [6.1] Outline Format. (A narrative Note-Making method) In this format the information is presented as an outline with using titles, sub titles that are numbered according a procedure.[6.1] Question and Prompt Format. (A narrative Note-Making method) The main points of a lesion can be highlighted across a series of questions and with relevant answers. [6.2] When taking lecture notes it should be more accurate and consisted. With improving the habit to use SQ3R technique it allows us to take most important points on lectures. After reorganizing them it reveal the way to review and revise the note. A note-Making method is only one category that comes under study skills. But up to now we can see more methods that can follow to achieve improvement in study. So we can follow any of them to reach the target. With the technological development the Note-Making method has stepped in to computer /notebook. So now it has changed its name as Electronic Note-making method. Most of the students use word processors because it is easy to forward. Objectives and Scope of Study Acquire the skills to make effective notes using various methods. Modules: Communication Study Skills Computer technology Physics Mathematics Engineering Ethics Note Format: Split-Page format Diagram/Pattern format Mind map Outline format Question Prompt format Through the research I have investigated different Note-Making methods. Five main Note-Making methods have taken to be concerned. The investigation covers the advantages, disadvantages and the feasibility of each method. And each Note-Making method is experimented with FEST modules. Module have been chosen concerning on its behavior and the relevance with the method as below; Split-Page format : Communication and Study Skills Diagram/Pattern Format : Computer Technology Mind-map : Physics Outline Format : Mathematics Question and Prompt Format : Ethics Acquire the skills in technical writing. Understand the requirements for a dissertation. Identify the main sections of a dissertation. Achieve proficiency in using soft tools to aid technical writing. Present critical and argumentative views. Learn to write, abstract and draw conclusions. Overview of Study CHAPTER 2 EFFECTIVE NOTE-MAKING METHODS FOR FEST PROGRAM Introduction In the lectures we have to take a much struggle to catch all the important points and to understand with them. So it is very important to get prepared before the lectures with referring to past lectures and with the things to be taught. After deciding the Note method according to frame work we will be able to have a good Note which concludes all main points. When writing down the main points abbreviations, phrases and images can be helpful to manage the time. This chapter concludes five main Note-making methods and their adoption in FEST modules. When selecting the appropriate Note-Making method, the behavior of each subject had to be considered. Communication and Study Skills is based on both theoretical knowledge and practical knowledge. Methods like Split-Page, Outline and Question-Prompt can be used to make CSS notes. But Split-Page format becomes most suitable as it carries standard notes and summery. Computer technology holds theory as well as practical. In most theory parts it concludes title, sub titles definitions and examples. CT notes can be summarized with a unique pattern like a diagram. So Diagram Format is the most suitable method which complies with CT notes. If we talk about Physics, it is a combination of theory, practical and calculations. Mind map can be used to emphasize the formulas, definitions and the key ideas in an illustrative manner. As Mathematics carry formulas, definitions and calculations, Outline Format can be used to make notes on theories as well as calculations. Ethics is mainly based on theory. So through Question and Prompt Format all the notes can be factorized. We should have a sense to select the most suitable method in various accations. Implementation of Different Note Formats in Various Fest Subjects The information and data needed, When making notes we copy the main points on lectures as well as text books. And we will have to refer web sources, journals, reports and articles to gain extra knowledge. The questions that rise during lectures and our own ideas hold an importance. All the types of data should be presented through a simple note. The data collection strategy, When making a note we have to follow a data collection strategy. First of all we will have to make a specific objective and a clear definition on the data collection. Second thing is the data collecting mode. It can be quantitative or qualitative. In quantitative data collection strategy it is easy to read and transfer. But in qualitative data collection strategy it needs a long time to differentiate and find out. Otherwise the data mode can be evaluated after deciding it as simple, complex or difficult. The conditions applied in notes, Note-Making is not an easy task as it appears. It needs skills to result a better product. We should find materials that are not too difficult or complex. In this case well organized material can help to reduce time. We have a good note after selecting, analyzing, summarizing and organizing those materials. Split-Page Format The easiest method to take down notes is Split-Page Format method. In this method the page should be divided in to two parts. The left side must have a width of 2.5 inches and the right side must have 6 inches. The right side is to note down the lecture notes and the important points. And the left is to write the key words and the summery of the notes. But in some books it is said that page should be divide in to three sections and in the left side it is for own comments and questions, the next part is for write down standard notes and the last part is for the summery. So we can use either way to make a good note. Advantages : This method is mainly composed to make lecture notes. And it produces a well organized note. When revising the note, the summery and highlighted points make it much easier. As we note down the questions that comes through the lesion, when recalling the lesion we can make much attention for those problems. Disadvantages : This kind of a note is not visually attracted. We will have to write down all the main points in the right side, so it takes much time. Feasibility : The main points, questions and summery is overviewed together. Diagram/Pattern Format This method is more visual than the Split-Page format method. According to this method the information can be displayed through a pattern as diagram. The main topic is to be written at the top of the page. After that the related ideas should be added. The main topic and the sub topics/ideas should be connected each other as it arouses a complete sense. Advantages : Very easy to use and it doesnt take much time to draw diagrams. It is much attractive and therefore it makes very convenient when recalling. Through diagram format it is easy to remember the information. Disadvantages : When using Diagram format method we will have to limit the points. Therefore some key points can be neglected. The main idea is not viewable, only the important points are viewable. It is not easy to extent when information is lot. It is difficult to state complicated ideas through such a short format. Feasibility : Through this method the main idea can be presented as a flow of key points. Mindmap Mind mapping method is bit difficult than other methods as it needs critical thinking. It is a composition of both images and words which present a lot of information through creativity. This method differs with other traditional methods as it is based on many skills such like, thinking planning, organizing and concerning. The topic/heading should be displayed at the middle of the page. The key ideas and the concepts are the next to be noted. The topics and sub topics can be highlighted with using many shapes. But all the concepts are to be added in a short format. Symbols and images can be added as the suitability. The concepts and their topics should be linked with free lines or arrows. To make it more attractive we can follow many colors as accordance. Advantages : It is easy to learn and apply and helps to reveal inner abilities as creativity. It provides a summery in a illustrative way. And it is easy to extend and add more points. Disadvantages : Only the person who have made it can understand, others cant. It is hard to express much complex concepts through Mind mapping. This method cannot be used to take instant notes. Feasibility : Make the subject more illustrative and comprehensive with its nature. Outline Format When we are taking usual notes, the Outline Format is mostly used. Actually this method is based on organizing information with using a numbering system. It should be started with an initial topic written as no.1. After that the sub topics should be displayed as 1.1,1.2,1.3The descriptions that are under those sub topics can be numbered as a),b),c)When we choose another topic it should be displayed as no.2.The relationship is shown by the order of the numbers.Otherwise the topics can be started at the margin and then the subtopics can be indented. Advantages : It is easy to learn and easy to use. This method can be used to take notes in the classroom. There will not be any information loss as it is well organized. It is very easy to understand as it is more descriptive. Disadvantages : It doesnt include a summery and the important ideas hidden among the details. So this is not a good method to recall before exams. Question and Prompt Format This method is more likely with Split-page method. But the difference being that, in QP method the questions that are based on study objectives will be displayed in the left side. And in the right side there should be the answer for that question. When we make questions we will have to go through all the lesions and to catch main points. This kind of a procedure makes the subject more understandable. Advantages : When we are going through text books or study guides, it is very important to note down the question arouses and their answers in order to use them near exams. The things that are more concern able are highlighted, so it is very important. Disadvantages : There is no summery, Only the important points are highlighted. Therefore whenever we want something in detail we will have to refer back to the text books. There are no any visual aids, so it doesnt make any pleasant feeling when seeing notes. Feasibility : This format has the ability to enhance the main points in a Question prompt way. Discussion and Conclusions Although there were many Note-making methods all of them are based on summarizing, organizing, analyzing and selecting important factors. We meet different modules, when we go through FEST program. With regarding to the feasibility of each Note-making method, we have to select most comparable format to use with subjects. When we are making ordinary notes in the class room, Outline Format is the most suitable one to use. When we are taking lecture notes Split-Page Format becomes most suitable as it consist of details as well as summery. Diagram/Pattern Format and Mind-mapping method can be considered as visual methods. Although Diagram Format method is easy to use and learn than the Mind-Mapping method, there occur problems in expanding data area in Diagram method. Mind-Mapping method is more famous among the present generation as it vast many abilities. As the first thing, it is to choose the most suitable Note-making method for the subject. It helps to remember more information that can be used in a later time. And also it makes much easier to recall the subject. CHAPTER 3 CONCLUSIONS AND RECOMMENDATIONS FOR FUTURE DEVELOPMENT IN NOTE-MAKING METHODS Study Contributions Through this research I was able to discover different Note-Making methods which suits for FEST modules. By then I could acquire the skills to make effective notes. Additionally I was introduced to technical writing criteria. It helped me to recognize the main qualities and behavior of a technical writing system. More overly this report made me aware on the requirements of a dissertation and its main sections. Most of the knowledge has to be caught from web sources. And that thing taught me, how I can contribute soft tools for such a research. Mainly I could accomplish most of the objectives as I was expected. Recommendations for Future Development in Note-making Methods For future development in Note-Making, we can use more abbreviations and short hands for a better time management. We can improve this skill by involving with official shorthand language more time. As a memory aid mnemonics can be added to our notes. With highlighting, annotating and underlining key points, we will be able to notice most important factors. Dating and numbering pages will also be helpful when organizing the lesions. Making notes on our own words helps to comprehend the lesion. There should be a space for critical comments as well as blank spaces. So I think that sort of thing can make a change in Note-making methods in near future. REFERENCES Edinburgh Napier University. Managing Information Home Page, http://www2.napier.ac.uk/gus/managing_information/note_making.html#most, 8 April 2009 Charted Banker. Members and Students Main Web site, http://www.charteredbanker.com/MainWebSite/CIOB338221dd8d0b8d3c.aspx?Map=AD96DDD5134AA008B0C89AD82547D3C6 University of Sussex, Study Direct, http://www.sussex.ac.uk/s3/?id=16, 2010