Coporate finance Essay Example | Topics and Well Written Essays - 2000 words

Coporate finance - Essay Example 2.1 Describe the business model and strategies of Tesco by taking on strategy and discuss with evidences cited from the case how it is consistent with corporate objective of maximizing shareholder wealth. Tesco’s business model is for the company to what matters better together as it deliver its core purpose to customers. The core retail activities of insight, buy, move and sell are what the company tries to make better as supported by its strategies, among others, of building the Tesco Brand, Leveraging Group skill and scale, operating responsively, establishing multichannel offer for customers. The financial results measure the performance on how the company was able to accomplish its strategies and objective of wealth maximization. The business model of Tesco includes those made from the perspective of strategic choices. The strategies being used in relation to its business model including that of operating responsibly which include maintaining its good profitability, efficiency management of its assets, acceptable liquidity, balanced gearing ratio and responsive investment ratios. As to whether the strategies are consistent with the corporate objective of maximizing shareholder wealth, it could be said that there is good amount of evidence. The results of the company’s profitability, liquidity, good Solvency , and good investment ratios provide good pieces evidence of meeting the financial objectives of the and which are consistent with the objectives of maximizing wealth of shareholders. Making good strategic judgements has a good way to determining the company’s prosperity and building value for its shareholders over the coming decade. Building shareholder value cannot be done in instant or in short-term. It is actually long-term as it may even be sacrificing in the short-run in order to attain the

Midwifery Code of Conduct Essay Example | Topics and Well Written Essays - 1500 words - 2

Midwifery Code of Conduct - Essay Example The healthcare industry is making efforts to offer and continue offering quality care and increase the credentials that enhance the competitiveness of organizations. Â  Scholars Lundy and Janes in their research argued that the main objective of healthcare administration is to ensure that the delivery of healthcare reaches residents in the efficient ways, to the required standards. Governments ensure that the provision of healthcare ensures continued support in the growth of the economies. This cannot be delivered if the administration and the organization as a whole do not prioritize work-life balance and team building among its employees as well as other stakeholders. Enhancing work-life balance is therefore very crucial to ensuring the success and stability of these organizations, and the companies should invest in promoting and building work-life balance for increased productivity and service delivery. This is a decisive move, applicable in building management and leadership to move in the leadership capacity of the health management and practitioners (Site, 2012). There are three potential models for healthcare organizations. These models a re corporate/business models, the orchestrator and the community model. These models represent the different ways in which hospitals conduct their operations. The corporate model is for hospitals, which are operated as financial entities. These hospitals’ main aim is making profit just like any other business. The orchestrator model is for hospitals, which are operated, similar to airports or malls. In this model, hospitals are looked at as providers of infrastructure for specialized and independent health providers. The final model is the community model where the needs of people come before the finance issues (Site, 2012). Â  

Built environment organisation and Process Essay

Built environment organisation and Process - Essay Example This dissertation is an attempt in the context of a construction project and takes into consideration the individual capabilities of an architect and a Quantity surveyor in order to determine the most suitable among the two for adopting the role of a lead consultant for a project. The next two sections will outline the work areas and individual areas of specialization of these professionals and the subsequent section will provide a requisite analysis of the two professions with a view to determining the most suitable among them. The prime tasks of an architect are to implement the plan and design of a construction project. Additionally, monitoring the progress and the various stages of construction happen to be the other important tasks. The work environment and methods of an architect are aimed at understanding the needs of the resident at all levels and to the slightest detail. This is due to the fact that designing the elevation and the interior details as well as estimating the dimensions of every entity within the construction project are the sole responsibilities of the architect. The importance of an architect within the purview of a construction project arises from the single fact that he/she must possess the ability to be able to visualize all requirements and needs of the customers in absolute totality as there is virtually no room for any adjustments or modifications once the basic framework is in place. Moreover, an successful architect is always known to leave no stone unturned in ensuring that none of the requirements are left open in an unclear or ambiguous way. As such, an architect sits at the top of the construction hierarchy when it comes to the extent of contact with the customer. There are many cases where the architect is also supposed to be well informed with the legal construction norms of the land (need to elaborate on this) as any kind of plan or design is likely to be influenced either directly or indirectly as a result of which it is extremely necessary to grasp all the norms and constraints beforehand. An able architect always knows the right technology to use for the purpose of construction and as such is entrusted with the responsibility of suggesting the best available methods for construction both to the customer as well as the developer. The usefulness and importance of these suggestions has direct implications on the cost, effort and schedule that goes into the project. Thus, in a way, an architect functions as an interface between the client and the developer. CAPABILITIES OF THE QUANTITY SURVEYOR In any construction project, the management of the finances involved is a major task. This requirement grows both in magnitude, complexity and importance especially when the construction project is huge, spans a long period of time and involves the exchange of money between several hands. As such, keeping track of all the transactions and making the requisite decisions becomes an individual and concentrated task that needs to be handled by a trained qualified and experienced professional. Therefore, in the

The institution of slavery in the American South of the antebellum Essay

The institution of slavery in the American South of the antebellum period - Essay Example The institution of slavery, as expressed by Zinn Howard in his book â€Å"A people’s history of the United States,† is a vividly visible element of the American history. The institution developed under the watch and possible support of the then governmental administrations and thrived over time. The extent of growth in the institution of slavery in the nineteenth century was evidenced by both increase in the number of slaves and the economic output of products due to efforts of slaves in the period. Zinn for example argues that the number of slaves swiftly grew from about half a million in the beginning of the antebellum period to about four million at the end of the period. Similarly, he notes that the level of output due to slavery’s labor input also increased from a yearly output of a â€Å"thousand tons of cotton† to a â€Å"million tones output† as was reported in the year 1860.... This is because once an individual entered the institution as a slave, he, or she was subjected to be at the owner’s choice location. The owner would for example order for presence of slaves at a particular farm and the slaves would have no alternative but to be there. Similarly, the slaves would work at the owners’ schedules without any right to complain (Zinn, p. 1). At the same time, the laws that could have protected the slave’s interest were undermined. The syndicated institutions that involved management and ownership of the slaves ensured that slavery was practiced without interference of provisions of the law. As a result, any legal requirements that intended to protect the rights and freedom of the slaves at the time were disregarded, subjecting the slaves to torture and suffering. Though the slaves had moments of merry, it was not due to happiness in their lives but an avenue for rejuvenating their hopes in suffering. They for example sang songs of joy amidst physical abuse such as beatings and being chained. The hostile environment to which the slaves were subjected even led to some deaths as were reported between the years 1850 and 1855. The transactional network that could sell a slave away from family members and friends infringed the slaves’ right and freedom of association. This meant a psychological pain of losing friends or relatives with little hope of ever seeing them again or knowing what their fate would be. Such was the pain that one Abream Scriven and his family and friends had to go through when he was sold off by his master in the year 1858 (Zinn, p. 1). Though the slaves seemed to cope with the slavery in a docile, submissive, and helpless attitude that was

Gross Domestic Product Essay Example | Topics and Well Written Essays - 500 words

Gross Domestic Product - Essay Example From this paper it is clear that a comparison of $40,000 earned in 1980 and 2010 can be made by first finding the number of times the consumer price index has decreased or increased from 1980 to 2010. In 1980 and 2010 the consumer price indexes were 82.4 and 236.74 respectively. The percent increase in the inflation rate from 1980 to 2010 was 187%. The average consumer price index went up 1.87 times between 1980 and 2010. The increases in CPIs show that the available products in 2010 were more expensive that they were in 1980. Concerning quality, some of the products have increased quality from 1980 to 2010 because of technological advancement. Good examples are electronics and cars that were more energy efficient in 2010 than they were in 1980.  As the study highlights  a person would be wealthier if he/she earned $ 40,000 in 1980 than making the same amount in 2010. The purchasing power in 1980 was greater than purchasing power in 2010. So, the person would buy more products or assets in 1980 than in 2010. One would choose to live 1980 because prices of products were less expensive than in 2010. If an individual were to determine which year he would have liked to live, the most appropriate and practical answer would be 1980. A person earning $40,000 in 1980 would live more comfortably that another individual who is receiving the same amount in 2010 because products were cheaper in 1980 than in 2010.

Figuring Fixed Costs Essay Example for Free

Figuring Fixed Costs Essay 10.1 The highest number of meals served was 4,900 in December, with the lowest of meals being 3,500 in July making a difference of 1,400 of meals served, between the two months. The cost per meal variable is 1400à ·$5500.00 for a total of $3.93 (WHDM’s) fixed cost is computed as follows $20,500.00-(3,500*$3.93) =$6,745.00 According to the following â€Å"formula: PX=A+Bx 5.77x=$6,745+$3.93† 5.77-$3.93=$6,745+ ($3.93-$3.93) 1.84x=$6,745 1.84x*1.84x=$6,745*1.84x â€Å"X=3,666 Monthly BEP 3,666*12= 43,992 BEP for the fiscal year† (Oppapers.com, 2012), for the Westchester Home- Service Meal Delivery program, since the program received 45,000 meals to serve and only needed 43,992 of them their profit is going to come from selling the other 1008 meals at a . 84 per meal making a profit of $1,854.72. 10.2 NRCC and Its BEP Annual revenue = $20.00 per subscription Annual variable rise for â€Å"making and mailing six bimonthly issues has risen 4.50 â€Å"(Martin, L., 2001) (NRCC) annual fixed cost is 6,000 + 3,900 = 9,900 Per subscription (NRCC’s) annual margin would be 20-4.5 for a total of 15.5 Making their BEP as follows 9,900/15.5 equaling 639 PX = A+Bx 20x=6,000+3,900+4.50x 20x=9,900+4.50x 20x-4.50x=9,900+ (4.50x-4.50x) 15.5x=9,900 15.5x/15.5x=9,900/15.5x X=639 No way is this feasible, because there are two staff members, who are all ready at the maxim capacity of 650, leaving no capacity for any kind of slack. References: Martin, L. (2001). Financial Management for Human Services Administrators. Needham Heights, MA: Allyn Bacon http://www.oppapers.com, 2012 http://www.studymode.com,2013 University of Phoenix. (2001). Financial Management for Human Service Administrator. Retrieved from University of Phoenix, HSM 260 website.

Investment Report on Qantas Airlines

Investment Report on Qantas Airlines Introduction Qantas main international hubs are at Sydney and Melbourne airport, as well as operates a significant number of international flights. Qantas owns Jetstar Airways and when it became privatised in 1993, became one of the most profitable airlines in the world. Qantas has a total of 299 aircrafts and 29,350 employees as of 2015, and its closest competitor is Singapore Airlines (SIA). Qantas goal is to be the worlds best airline, providing travel experiences and putting safety first at all times. Since 2006, Qantas has saved over 2.5 million tonnes of carbon emission through its Qantas Future Planet Program. This is Qantass program for their sustainability, environmental and social initiatives. In 2008, Qantas ordered 20 A380s, and using Required Navigation Performance and air traffic management, helped to save thousands of kilograms of carbon emission. In 2012, Qantas won an award for setting the standard for large organisations and has won another 3 awards till date. Financial/Economic Performance Table 1.0 General Information on Qantas Financial Information and Analysis of Qantas This portion of the report aims to provide relevant financial information, analysis and the profitability of Qantas. This report also compares between Qantas and SIA to provide a more in depth evaluation on the profitability of Qantas. Profitability Analysis of Qantas As seen in Table 1.0, Qantas had a negative return on assets (ROA), return on equity (ROE), as well as profit margin. According to Max Mason (2014), the statutory loss does not represent a cash loss to the company, rather it is a paper loss in the value of its assets. However, in 2015, Qantas made a comeback and made an increase of 26%. Moreover, Qantas made an 83% increase in return on equity (ROE) and their profit margin increased by 31%. This shows that Qantass negative ratios were most probably caused by lack of customers wanting to travel. ROA measures the return earned by management through operations as well as reflects the result of the entitys ability to convert sales revenue into profit. ROE measures the rate of return on the capital invested by shareholders. A sustained high ROE attracts new competitors to the industry and eventually erodes excess ROE. Profit margin is a measure of profitability. It is used to calculate the net profit as a percentage of the revenue. Liquidity Analysis Table 1.1 Liquidity Analysis of Qantas When calculating current ratio, it is best if the ratio is 1 or more than 1. Most people regard a current ratio that is less than 1, as a company that is facing insolvency. While Qantas in this case has a ratio of less than 1, it is still comforting to know that their assets still contain enough cash and receivables, and one of the non-current liabilities contains revenue received in advance. Although it is unearned, when the amount received is earned, it will be credited accordingly. 2.3 Profitability Ratios Between Qantas and SIA Table 1.3 Profitability Ratios between Qantas and SIA Table 1.4 Qantas and SIA Financial Statement 2015 2.3.1 ROA Comparison Between Qantas and SIA Earnings Before Interest and Tax (EBIT) shows the earnings generated by the company, ignoring tax and debt. A high EBIT would mean that the company is either earning a high revenue or have low expenses. As seen in Table 1.4, although the revenue earned is about the same, SIAs expenditure is higher, thus resulting in a lower EBIT. Adding on to that, SIAs asset is higher than Qantas, thus resulting in a lower ROA. The ROA shows that Qantas is able to convert sales revenue into profit better than SIA as well as better at generating income from its asset investments. Moreover, this translates into efficiency in using its resources so as to generate a good return for investors. 2.3.2 ROE Comparison Between Qantas and SIA As seen from Table 1.4, Qantas NPAT is higher than SIA, which translates into Qantas being better at earning a return on the equity provided to them. That can be seen from the amount of equity both companies have. For SIA, this is what we call a capital funded company. A capital funded company relies on investment from shareholders to operate and for SIA, it is shown that they are not making full use of their investments to enable a good return to their investors. 2.3.3 Profit Margin Comparison Between Qantas and SIA Profit margin is a ratio used to calculate a companys financial performance. Commonly, a low profit margin would indicate lower sales than other companies in the industry. As seen from Table 1.3 and 1.4, Qantas has almost the same revenue, but a higher profit margin than SIA, which could indicate that they are cost conscious, therefore have less expenditure. Social Performance of Qantas Corporate Social Responsibility (CSR), is a form of self-regulation that companies engage in, to provide some social good, beyond the interests of the firm, regulators and environmental protection groups. By undertaking CSR, companies are able to reach out to consumers trust through positive public relations and encourage the company to make an impact on the environment and stakeholders. Qantas partners with organisations such as Make-A-Wish, e-motion21, Mardi Gras and UNICEF to promote a positive change. 3.1 Make-A-Wish Australia Qantas is the official airline of Make-A-Wish Australia, an organisation that grants wishes to children with life threatening illnesses. Since 1985, over 8000 wishes had been granted and since 2008, the Qantas Foundation has donated over $5.7 million for charitable causes in Australia. Qantas also helped fulfil the wish of a boy, with stage 4 Wilms tumour, who wanted to be a pilot by bringing him to a plane simulator as well as showed him around the workings of a plane. 3.2 E.motion21 E.motion21 is a non-profit organisation that aims to improve the lives of people with down syndrome through dance, fitness and performance. As a corporate partner, Qantas supported the organisation by sending 18 dancers and their families to South Africa for the World Down Syndrome Congress and even gave Lauren Potter a surprise serenade when she touched down in Australia. 3.3 Mardi Gras Also known as the Sydney Gay and Lesbian Mardi Gras in Australia, its a parade to celebrate Lesbian, Gay, Bisexual and Transgender (LGBT) pride. As a major partner of the parade, Qantas celebrates the spirit of diversity by having their own Gay 380 float. Qantas is also a Gay-Friendly airline, with non-stop flights to Australia and New Zealand, countries with a thriving LGBT community. 3.4 UNICEF Providing humanitarian assistance to children and mothers in developing countries, UNICEF is a non-profit organisation that relies on government and private funding. UNICEF partnered with Qantas to create the Change for Good program, where Qantas passengers unwanted spare change were collected and donated to UNICEF for the purpose of providing textbooks for education or protecting children from diseases. This concept has helped raise at least $28 million over the past 23 years. Environmental Performance of Qantas Qantas takes initiative in protecting the environment on both land and air, and has partnerships that promote sustainability and conservation. The most important initiative would be in the air, where planes are frequently releasing emissions that slowly harms the ozone layer. Since 2007, Qantas has been reducing harmful emissions, making them one of the industry leaders in environmental protection. As of 2014, Qantas managed to reduce electricity consumption by 9%, water consumption by 11% and landfill by 20%. To reach their 2020 target, Qantas has been using Sustainable Aviation Fuel (SAF), investing in fuel efficiency, flying carbon neutral, and recycling. On the ground, Qantas protects the environment indirectly by using natural gas for their headquarters as well as a reduction in utilities used. 4.1 In the Air 4.1.1 Sustainable Aviation Fuel SAF is now in its second generation and currently, 2% of global emissions come from aviation and is expected to rise to 3% by 2050. Although solar, electric and hydrogen aircrafts are being researched on now, it is still more feasible to use SAF due to aviations need for high power-to-weight ratio. In 2012, Qantas was the first Australian airline to use SAF to operate a commercial flight and have partnered with Shell Australia and the government to explore the production of SAF in Australia. In a study conducted with industry partners, findings have shown that SAF can result in the creation of 12,000 clean energy jobs, a 17% reduction in emissions and a $2 billion reduction in the reliance of oil imports. 4.1.2 Fuel Efficiency Program In recent years, Qantas has phased out old airplanes and purchased newer ones that are equipped with the latest technology and engines. Some of the airplanes include the Airbus A380, Boeing 787 Dreamliner and Airbus A320 neo. Other methods of fuel efficiency would include weight reduction by investing in lighter equipment or adjusting the amount of portable water the plane carries based on passenger needs and sector length. 4.1.3 Flying Carbon Neutral Since the launch of the Fly Carbon Neutral program in 2007, Qantas has managed to offset over 1.8 million tonnes of carbon. Carbon offsetting in business terms, is the purchasing of carbon credits to enable businesses to compensate for their carbon emissions. For Qantas, not only do they offset their employees carbon footprint, but each time a customer flies on Qantas, they can choose to offset their share of carbon emissions. In other words, you contribute a sum of money equivalent to your carbon footprint and Qantas will use that contribution to fund carbon offset projects that provides genuine, lasting environmental and social benefits. Qantas does not earn from the contribution and Fly Carbon Neutral is the largest airline offset program in the world. Qantass carbon offset projects include, protecting the Tasmanias wilderness, empowering rainforest communities, improving Cambodian air quality and protectingallow the Peruvian amazon. 4.1.4 Recycling Qantas was the first Australian airline to introduce inflight recycling and has since recycled 390 tonnes of paper and 200 tonnes of bottle per year. Qantas takes recycling very seriously and pushes their suppliers to produce more sustainable products and less packaging. For example, currently, all the paper cups provided on board are made from 35% recycled paper. Qantas also tries to get their customers to join in to save the environment by assisting the cabin crew to separate the recyclable items for collection. 4.2 On the Ground 4.2.1 Tri Generation Projects and Campus Redevelopment Qantas reconstructed their headquarters by building Australias largest tri-generation project in Sydney. The system allows cooling, heating and electricity by using natural gas as the fuel so as to produce more efficient, lower carbon energy for the headquarters, catering centre, jet base and domestic terminal. The end result would be a reduction of 23,000 tonnes of carbon dioxide emissions per year, an equivalent of taking 7,000 cars off the road. It will also raise the energy efficiency rating from a NABERS 1.5 star to NABERS 5 star. 4.2.2 Utilities Reduction In order to achieve their water and electricity targets, Qantas purchased LED lights to improve lighting efficiency as well as procuring energy efficient appliances. Rectification of water leaks and installing water efficient fixtures was done as well. Conclusion Although low current ratio was seen, I would recommend anyone to invest in Qantas as the profitability ratios show a more than significant improvement between 2014 and 2015. This is much more evident when compared to SIA, another top leading airline in the world. Moreover, Qantas engages in various environmental and social aspects to make sure they are a well-recognised company. Reference list