Gods, Myths and Legends in Greek Mythology

The basics of Greek mythology are the gods and goddesses and their mythical history. The stories found in Greek mythology are colorful, allegorical, and include moral lessons for those who want them and puzzles to mull over for those who dont. They include profound human truths and the basics of western culture. This Introduction to Greek Mythology provides some of these background features. The Greek Gods and Goddesses Greek mythology tells stories about gods and goddesses, other immortals, demigods, monsters or other mythical creatures, extraordinary heroes, and some ordinary people. Some of the gods and goddesses are called Olympians because they ruled the earth from their thrones on Mount Olympus. There were 12 Olympians in Greek mythology, although several had multiple names. In The Beginning... According to Greek mythology, in the beginning was Chaos, and nothing more. Chaos was not a god, so much as an elemental force, a force made of itself alone and not composed of anything else. It existed from the beginning of the universe. The idea of having the principle of Chaos at the beginning of the universe is similar to and perhaps a progenitor of the New Testament idea that in the beginning was The Word. Out of Chaos spun out other elemental forces or principles, like Love, Earth, and Sky, and in a later generation, the Titans. Titans in Greek Mythology The first few generations of named forces in Greek mythology grew progressively more like humans: The Titans were the children of Gaia (Ge Earth) and Uranus (Ouranos Sky)—the Earth and Sky, and based on Mount Othrys. The Olympian gods and goddesses were children born later to one specific pair of Titans, making the Olympian gods and goddesses grandchildren of Earth and Sky. The Titans and the Olympians inevitably came into conflict, called the Titanomachy. The ten year battle of the immortals was won by the Olympians, but the Titans did leave a mark on ancient history: the giant holding the world on his shoulders, Atlas, is a Titan. The Origins of the Greek Gods Earth (Gaia) and Sky (Ouranos/Uranus), who are considered elemental forces, produced numerous offspring: 100-armed monsters, one-eyed Cyclops, and the Titans. Earth was sad because the very unpaternal Sky wouldnt let their children see the light of day, so she did something about it. She forged a sickle with which her son Cronus unmanned his father. The love goddess Aphrodite sprang up from the foam from Skys severed genitals. From Skys blood dripping on Earth sprang the spirits of Vengeance (Erinyes) also known as the Furies (and sometimes known euphemistically as the Kindly Ones). The Greek god Hermes was the great-grandson of the Titans Sky (Uranos/Ouranos) and Earth (Gaia), who were also his great-great-grandparents and his great-great-great grandparents. In Greek Mythology, since the gods and goddesses were immortal, there was no limitation on child-bearing years and so a grandparent could also be a parent. Creation Myths There are conflicting stories about the beginnings of human life in Greek mythology. The 8th century BCE Greek poet Hesiod is credited with writing (or rather first writing down) the creation story called the Five Ages of Man. This tale describes how humans fell getting further and further away from an ideal state (like paradise) and closer and closer to the toil and trouble of the world we live in. Mankind was created and destroyed repeatedly in mythological time, perhaps in an effort to get things right—at least for the creator gods who were dissatisfied with their almost godlike, almost immortal human descendants, who had no reason to worship the gods. Some of the Greek city-states had their own local origin stories about creation that pertained just to the people of that location. The women of Athens, for instance, were said to be the descendants of Pandora. Flood, Fire, Prometheus, and Pandora Flood myths are universal. The Greeks had their own version of the great flood myth and the subsequent need to repopulate the Earth. The story of the Titans Deucalion and Pyrrha has several similarities to the one appearing in the Hebrew Old Testament of Noahs ark, including Deucalion being warned of the coming disaster and the construction of a great ship. In Greek mythology, it was the Titan Prometheus brought fire to mankind and as a result, enraged the king of the gods. Prometheus paid for his crime with torture designed for an immortal: an eternal and painful occupation. To punish mankind, Zeus sent the evils of the world in a pretty package and loosed on that world by Pandora. The Trojan War and Homer The Trojan War provides the background for much of both Greek and Roman literature. Most of what we know of those terrific battles between Greeks and Trojans have been attributed to the 8th century Greek poet Homer. Homer was the most important of the Greek poets, but we do not know exactly who he was, nor whether he wrote both the Iliad and the Odyssey or even either of them. Nevertheless, Homers Iliad and Odyssey play a fundamental role in the mythology of both ancient Greece and Rome. The Trojan War began when the Trojan prince Paris won a foot race and handed Aphrodite the prize, the Apple of Discord. With that action, he started the series of events that led to the destruction of his homeland Troy, which, in turn, led to the flight of Aeneas and the founding of Troy. On the Greek side, the Trojan War led to disruption in the House of Atreus. Horrible crimes were committed by the members of this family on each other, which included Agamemnon and Orestes. In the Greek dramatic festivals, the tragedies frequently centered on one or another member of this royal house. Heroes, Villains, and Family Tragedies Known as Ulysses in the Roman version of the Odyssey, Odysseus was the most famous hero of the Trojan War who survived to return home. The war took 10 years and his return trip another 10, but Odysseus made it back safely to a family that was, oddly, still waiting for him. His story makes up the second of the two works traditionally attributed to Homer, The Odyssey, which contains more fanciful encounters with mythological characters than the more war-story Iliad. Another famous house that couldnt keep from violating major societal laws was the Theban royal house of which Oedipus, Cadmus, and Europa were important members who featured prominently in tragedy and legend. Hercules (Heracles or Herakles) was immensely popular to the ancient Greeks and Romans and continues to be popular in the modern world. Herodotus found a Hercules figure in ancient Egypt. Hercules behavior was not always admirable, but Hercules paid the price without complaint, defeating impossible odds, time and again. Hercules also rid the world of horrible evils. All Hercules tastes were superhuman, as befits the half-mortal (demigod) son of the god Zeus. Sources and Further Reading Edmunds, Lowell (ed.). Approaches to Greek Myth, Second Edition. Baltimore: Johns Hopkins University Press, 2014.Graf, Fritz. Greek Mythology: An Introduction. Trans: Marier, Thomas. Baltimore: Johns Hopkins University Press.  Rose, H.J. A Handbook of Greek Mythology. London: Routledge, 1956.  Woodard, Roger. The Cambridge Companion to Greek Mythology. Cambridge: Cambridge University Press, 2007.

Analysis Of The Poem Caucasia By Danzy Senna Essay

Caucasia written by Danzy Senna, is similar and yet different compared to Song of Solomon. In Caucasia, Birdie is a young bi-racial girl, in which she is the daughter of a black man and white woman. While Birdie appears and passes for white, she embraces her black identity even more so. Birdie is torn apart from those she loves, yet she undergoes a journey to find them. In Song of Solomon, there is an all black family- the Dead family, that struggles within itself and within an all black community. Milkman is born into a world that is divided between black and white. Throughout the novel he develops as a person with the help of a wise family member and his own experience. According to June Jordan, â€Å"Affirmation of Black values and lifestyle within the American context is, indeed, an act of protest.† (Notes Toward a Black Balancing of Love and Hatred, 47) Through affirmation of Black values and lifestyle, Caucasia and Song of Solomon show instances of Black protest in the f orm of Birdie’s and Milkman’s characters, their relationship to their black communities and family, and the adventures that they undergo to find answers. When Cole and her father leave Birdie, they leave her a box that her father had written â€Å"Negrobilia† on the side. Birdie holds this box very dear to her heart, adding to it as the novel progresses. This Negrobilia box represents and symbolizes Black values and lifestyle consisting of items that Birdie, her father and sister owned, and had used. The items in

Social Networks and the Arab Spring Free Essays

string(190) " gives light to another contrasting perspective about the importance of online social networks being highlighted by international media to emphasize the role of Western ideals of democracy\." â€Å"An Examination of the Role of Online Social Networks in the Uprisings in Tunisia and Egypt in 2010-11† In the academic research and journalism about the Arab Spring, there are contrasting views surrounding the importance of the Internet and online social networks in the success of the uprisings. Did the uprisings in Tunisia and Egypt give validity to Egyptian Google executive Wael Ghonim’s claim that â€Å"if you want to liberate a society, just give them Internet† (Ghonim CNN), or was the function of online social networks greatly exaggerated by international media to highlight Western ideals of democracy? This research paper will closely analyze the extent to which these online social networks such as Facebook, Twitter, mobile phone networks, and YouTube were used as tools for the organization and mobilization of civil disobedience in Tunisia and Egypt in 2010-11. It will examine the role and impact of online social networks and will assess whether they were merely extensions of offline communities or if they played an integral and mandatory role in these uprisings. We will write a custom essay sample on Social Networks and the Arab Spring or any similar topic only for you Order Now Though this paper will investigate the range of opinion on the impact of digital media in the Arab Spring, it will argue that online social networks played an integral role for Tunisian and Egyptian citizens in their rapid and successful uprisings. Online social networks blur geographical boundaries, which create opportunities for widespread communication, effective organization, mobilization of citizens, and the sharing of videos locally and internationally. Before the proliferation of digital media in the Middle East, these opportunities were not available to citizens and communication was limited to individual communities or offline networks. The combination and collaboration of already established offline networks, various digital technologies, and online social networks lead to the success of the civilians in overthrowing their governments. Despite the years of civil discontent and corruption in both the Ben Ali and Hosni Mubarak governments, revolution did not occur until digital media provided the opportunity for different communities and individuals to unite around their shared upsets and create mobilization strategies online. In Tunisia and Egypt, â€Å"social media have become the scaffolding upon which civil society can build, and new information technologies give activists things that they did not have before: information networks not easily controlled by the state and coordination tools that are already embedded in trusted networks of family and friends† (Howard 2011). It will be shown that although online social networks act as an extension of the offline public sphere, their role in these uprisings was integral in creating an organizational infrastructure and to generate international awareness and aid against the corrupt governments. Discontent had been brewing in Tunisia for years during President Zine El Ben Ali’s rule. In 2009 he was reelected for a fifth term with an overwhelmingly fraudulent 89% of voters (Chrisafis, 2011). Despite years of suffering from an oppressive regime, rising unemployment rates, and censorship, it was not until the self-immolation of a vendor, Mohamed Bouazizi, was documented and transmitted online that the revolution gained the awareness and support it needed to make a difference. There had been previous acts of protest, but â€Å"what made a difference this time is that the images of Bouazizi were put on Facebook† (Beaumont, 2011). A relative of Bouazizi, Rochdi Horchani, went so far as to state, â€Å"we could protest for years here, but without videos no one would take any notice of us† (Chrisafis, 2011). The revolutions in Tunisia inspired Egyptian activists to use similar tactics to evoke change in their own corrupt government. Muhammad Hosni El Sayed Mubarak ruled over Egypt from 1981 to 2011, when he was overthrown by the organized and effective protests of Egyptian citizens. Although social media and digital technologies had little to do with the underlying sociopolitical and socioeconomic factors behind the civil discontent, they played a rapid role in the disintegration of these two regimes. In addition, even though corruption had been occuring for many years in the governments, â€Å"all inciting incidents of the Arab Spring were digitally mediated in some way† (Hussain, 2012) whether it was documented and disseminated online or discussed on an online social network. The corruption and discontent of the citizens may have inevitably lead to protests in both countries, but â€Å"social media was crucial† (Khondker, 2011) due to it’s communication and organizational abilities. The cruciality of online social networks and digital technologies is contested by theorists who argue that â€Å"other sociological factors such as widespread poverty and governmental ineptitude had created the conditions for extensive public anger† (Hussain, 2011) and that these preexisting conditions caused the revolutions. Several pundits including Gladwell and Friedman argue, â€Å"that while Facebook and Twitter may have had their place in social change, the real revolutions take place in the street† (Hussain, 2011). Though these theorists are correct in their attribution to the already existing political discontent for the preconditions to the revolution, online social networks acted as a necessary extension of offline social networks and action. It is likely the successes of the protests in the streets would not have been as large without the communication potential of digital media. One pundit attributed the lack of violence in the revolutions to the digital media stating that the use of online social networks â€Å"may have less to do with fostering Western-style democracy than in encouraging relatively less violent forms of mass protest† (Stepanova, 2011). Now that citizens had other vessels to communicate internationally and were no longer censored and controlled by their state regulated media, the governments could not be so open about their brutality. Pundits such as Gladwell and Friedman overlook the fact that â€Å"digital media allowed local citizens access to international broadcast networks, networks which were then used by online civil society organizations to lobby advocacy campaigns† (Hussain, 2012). It was these social networks that aided Tunisian and Egyptian citizens with their success in the streets. The Arab Spring has also been attributed the nickname of â€Å"The Twitter Revolution† (Stepanova, 2011) due to the large role Twitter and Facebook played in the uprisings. This nickname gives light to another contrasting perspective about the importance of online social networks being highlighted by international media to emphasize the role of Western ideals of democracy. You read "Social Networks and the Arab Spring" in category "Essay examples" Due to the fact that digital technologies and online social networks proliferated the West before the Middle East, the U. S claims credit for the democratizing effects they had on the Middle East during the Arab Spring (Stepanova, 2011). By emphasizing the power of new technologies in spreading Western democratic values, this approach ignores the socioeconomic and social equality dimensions of the massive protests in the Arab world. Ekaterina Stepanova states that â€Å"the automatic connection [The United States] makes between social media and a Western-style democracy agenda† (Stepanova, 2011) is a weak link in U. S policy. Social media tools with identical functions can operate differently in developed versus developing countries. It was not just the Western media which stressed the role of online social networks in the Arab Spring, but also local media and the civilians themselves. The role of Twitter and Facebook may have been emphasized in Western media due to their nationalistic attitude, but this should not downplay the actual importance that these technologies held in the uprising. During the uprisings in Tunisia and Egypt, social networks were the key factor in the communication, mobilization, and organization of civilians. Civilians used their mobile phones or computers to access online social networks where they could discuss and plan tactics for the revolution, and disseminate messages and photos of what was occurring. During the anti-Mubarak protests, an Egyptian activist put it succinctly in a tweet: â€Å"we use Facebook to schedule the protests, Twitter to coordinate, and YouTube to tell the world† (Hussain, 2012). In the ‘Jasmine Revolution’, the role of mobile phones was integral in both sharing and receiving information. The phone acted as a tool which aided in the extension of offline networks into online. Now, civilians did not need to be face to face to communicate messages of discontent or plans for rebellion as they had mobile networks. The ability to message many people at one time of access their Facebook or Twitter from their phone was invaluable to the rebels. Reporters without Borders stated that â€Å"the role of cell phones also proved crucial [in Tunisia]. Citizen journalists kept file-sharing websites supplied with photos and videos, and fed images to streaming websites† (Reporters without Borders, 2011). It was not just the vast communication abilities that aided citizens in the revolt, but by putting cameras in the hands of a plethora of Tunisians they became citizen journalists with the ability to show what was happening to them to the world. The ability for citizens to take part in news is very valuable as this was a time where all media broadcast institutions were state run. The great difference between what was being reported about through the citizens versus the state allowed those uprisings to share their side of the story. Government censorship was a huge problem in both Tunisia and Egypt, but censorship â€Å"made the new media more relevant† (Khondker, 2011). Social media was very useful for the citizens as it â€Å"brought the narrative of successful social protest across multiple, previously closed, media regimes† (Hussain, 2012). It was due to the mobile phone and heavy proliferation of online social networks that citizens could show proof of the injustices that were occurring through photo and video documentation on an international scale. In addition, communicating online was very effective for civilians since they could plan out offline protests with a mass audience. As stated, the internet blurs geographical boundaries, which allows revolutionary leaders and advocates to find each other and communicate online. Social networks such as Facebook and Twitter provided citizens with a platform to discuss plans of action and reach mass audiences. The ability to reach so many people online was essential since â€Å"information and communication networks can serve as powerful accelerators of social transformation† (Stepanova, 2011). Facebook groups such as â€Å"We Are All Khaled Said† enlisted 350,000 members before the 14th of January (Khondker, 2011). This group provided the members with an incomparable medium of communication to anything offline social networks could provide. In addition, other than attempted media blackouts by the governments, communication was rather unlimited online. Activists posted relatively freely, which indicated that â€Å"new information technology has clearly the transformative potential to open up spaces of freedom† (Khondker, 2011). The idea of online spaces as democratic and free draw upon Jurgen Habermas‘ concept of the public sphere. There are integral benefits of the internet in relation to Habermas’ public sphere, such as the vast library of easily accessible information, a new platform for critical political discussion, the blurring of spacial boundaries, and the embracing of new technology. In the Arab Spring, the usage of the internet empowered Habermas’ concept of deliberative democracy, which highlights â€Å"the role of open discussion, the importance of citizen participation, and the existence of a well-functioning public sphere† (Gimmler, 23). Habermas holds that deliberative democracy is based â€Å"on a foundation that enables the legitimacy of the constitutional state and civil society to be justified† (Gimmler, 23). He separates the â€Å"constitutional democratic state and its parliamentary and legal institutions, on one side, and the public sphere of civil society and its more direct communication and discursive foundations, on the other† (Gimmler 24). The opposition between the corrupt governments and civilians was represented on online social networks. Civilians used social networks as spaces of deliberative democracy, which acted as an online public sphere. Henry Brady states that â€Å"meaningful democratic participation requires that the voices of citizens in politics be clear, loud, and equal† (Hindeman, 6), online social networks give power to those voices that are silenced by state regulations. The fact that â€Å"information technologies have opened up new paths to democratization and the entrenchment of civil society in many Arab countries† (Hussain, 2012) attests to their function as a public sphere. Though there were effective offline social networks such as the Church, family, and friends, â€Å"the networks of people who did mobilize, did so with the direct application, initiation, and coordination, of digital media tools† (Hussain, 2012). Online social networks acted as extensions of offline networks that were already present, but also provided the opportunity to reach a much larger amount of people. The plans and decisions made on the online networks made the offline protests so successful. Virtual networks materialized before street protest networks† (Hussain, 2012), which shows the importance of online social networks. In the uprisings in Tunisia and Egypt, there was no single social network that was completely responsible for the success of the revolution. Instead, it was the combination of mobile phones, the internet, and traditional broadcast media which aided citizens in forming powerful networks which strengthened their cause. Castells defines a network s ociety as â€Å"a society whose social structure is made of networks powered by microelectronics-based information and communication technologies. By social structure, [he] understands the organizational arrangements of humans in relations of experience and power expressed in meaningful communication coded by culture† (Castells, 2004). This definition accurately describes the atmosphere in both Tunisia and Egypt during their revolutions due to the reliance on online social networks. In both Tunisia and Egypt, there was a manifestation of technology which aided citizens in communicating. Social networking sites, instantaneous internet, and always-available mobile phones created a powerful network which allowed citizens to always be connected to each other. Some degree of formal organizational and informal networks is necessary for revolution in order to communicate and plan. Egyptians utilized heavy social media connectivity through the use of the mobile device via texting of internet through their phone rather than personal computer. One Egyptian citizen tweeted on January 26th, 2011 â€Å"You who have Twitter and Facebook working on your phone, use them to spread words of hope. We won’t let this end here #jan25 was just the start† (Boyd, 2011). Citizens were encouraging each other to avoid traditional forms of communications via the internet to avoid government censorship and interference. Castells stated that â€Å"thus was born a new system of mass communication built like a mix between an interactive television, internet, radio and mobile communication systems. The communication of the future is already used by the revolutions of the present† (Castells, 2011, emphasis on the original) when describing the use of technologies in the Arab Spring. The issue of censorship posed a large barricade on the protesters due to their reliance on social networks and the internet. The Ben Ali regime realized the importance of Facebook in early January 2011 and stepped up their censorship with attempts to curb the heavy distribution of photos of protests and repression. There was increasing interest from the foreign media due to the power of ICT’s in spreading the story worldwide, which also influenced the state to up online censorship. The head of the Agencie Tunisienne d’Internet (ATI) said â€Å"the number of websites blocked by the authorities doubled in just a few weeks. More than 100 Facebook pages about the Sidi Bouzid events were blocked, along with online articles about the unrest in foreign media†¦ olice also hacked into Facebook accounts to steal activists passwords and infiltrate networks of citizen-journalists† (Reporters Without Borders, 2011) . It was the power of networks which allowed the citizens to overcome the censorship of the government. Due to the many options of communications devices, when one was blocked citiz ens would resort to another. In addition, citizens found ways around the internet blockage and activist hacker groups rebutted with hacks on government websites and found technical ways to pass on news and demands from inside Tunisia. The positive role of technology within the uprisings in Tunisia and Egypt cannot be disputed. Although, such heavy use of technology caused the corrupt governments to attempt to intervene, the positives far outweigh the negatives. Information and communications technologies allowed oppressed citizens to rise above the government through the power of mobility, networks, and information. The portability of the cell phones partnered with the creation of networks through the multiple technologies utilized allowed the voice of the citizens to be heard worldwide. The positive effect these technologies had in empowering the both the Tunisians and the Egyptians is clear in the mere rapidity that they overthrew their corrupt governments once they started revolting. In addition, it is clear that these ICT’s had a large effect since the government responded so harshly towards them, clearly feeling threatened. Overall, it is evident that ICT’s played a large role in the effective and swift revolutions which started the domino effect of the Arab Spring. *Copy Right- Nobody has permission to use my work in their own academic research* How to cite Social Networks and the Arab Spring, Essay examples

Consumers And Sustainability Walmart - Click to Get Solution

Question: Discuss about the Consumers and Sustainability at Walmart. Answer: Introduction In this report Walmart, which is one of the well- known retail industry of Australia is selected. The main aim of the organization is to save the money of the people by offering products at lower prices (Lukic 2013). The report covers the evaluation of sustainability activities on the employees, society and environment, ethical issues related with the organization and ways to improve the ethical issues, discussion about the corporate social responsibility of the organization, stakeholders key and ethics in communication and practices. The report also contains some recommendation in order to make Walmart more ethical organization in the future. Sustainability of Walmart The main goal of Walmart is to supply products entirely by renewable source of energy without creating any waste and sell those products that help in sustaining both the people and the environment (Stankevi it et al. 2012).For achieving its goals, the organization has built its relationship with influential people in the companies of the suppliers, NGOs and government (Lukic 2013). With the help of those associations the company has built and created Sustainable Value Network in order to integrate and evaluate its effort in the practices of renewable energy. Evaluation of Sustainability activities of Walmart regarding employees In the year 2012, Walmart has implemented 115 onsite rooftop solar installations in different seven countries that help in providing 71 million kilowatt of electricity(Hyatt 2012). The company has completed almost 26 installations of fuel cells in the United States. Walmart low cost practice of sustainability helps in translating the renewable energy endeavours by signing the contracts with the help of renewable energy providers. This contract that was offered by the organization at low cost was provided to the different clients. All the activities of the organization are beneficial for the employees of the organization (Waller et al. 2015). With the development of sustainability in the organization, the employees of the organization have to work in environmentally sustainable environment of the organization. The green products supplied by the company are beneficial for everyone including the organization. For measuring sustainability, Walmart has launched Sustainability Index. Evaluation of Sustainability activities of Walmart regarding society The organization is in the goal of zero waste and therefore the company has successfully converted 1.2 millions of pounds of cooking oil into biodiesel soaps (Malhotra et al. 2013). The organization is also testing recycling methods that aims to allow the company to reduce its use of global plastic bags by 35% (Carter and Jayachandran 2012). In addition the organization has stated installing micro-wind in different sites for reducing the use of non0renewable energy. For conserving non- renewable energy for the future generation, the company has become the third largest purchaser of green power in the world and second largest onsite green power generator. Evaluation of Sustainability activities of Walmart regarding environment The organization has financed its own renewable energy projects. In order to reduce the consumption of energy, Walmart has facilitated conservation of energy by following two major methods (Chekwa et al. 2014).The company has implemented new stores with the daylightning features that help in enabling the stores to turn off light as the daylightning feature helps in reducing the demands of electricity. Secondly the organization have managed the energy consumption by having control on the heating and cooling of the stores of Walmart (Vanleer and Squires 2016). The company has opened a store with LED lightning that helps in opening freezes with the help of the secondary refrigerator system. This helps in reducing the greenhouse gas emission (Foley and Havice 2016). The organization is in the attempt of reducing the fossil fuel use. With the help of green products the organization has reduced the emissions of carbon by 41000 tons. Ethical issues of Walmart Ethical issues faced by Walmart Walmart have faced many ethical issues. In the year 2005, Thomas Coughlin who was the board vice chair was forced to resign. This is because he has stolen more than $ 500 000 from the organization in the form of expenses, compensation and unauthorized gift vouchers (Martin 2015). In the year 2006, Coughlin has decided to beg as he was guilty to wire fraud and tax evasion charges. He have taken away millions of dollars in the name of compensation and gift vouchers, he has secretly used the organizations fund for paying the personal expenses including the expense of haunting vacation (Ferrell and Fraedrich 2015). Coughlin dishonesty was discovered when he has asked one of his subordinates to approve his $2000 expense payment without providing him any receipts. For this crime Coughlin was sentenced to 27 months of home confinement and a fine if $ 440 000 and 1500 hours of service towards the community. The confidence level of Walmart leadership rises when the CEO became the next CEO as the organization was warned by next bribery case. In the ear 2012, a specific number of Walmart non-family shareholders vote against the re- election procedure of Mike Duke (Weiss 2014). They have also voted against the re-election procedure of other members including the former CEO Robert Walton. The people were against but this does not stop the members of the board in re-electing them but it proves to be a signal of disappointment and lack of confidence I the leadership process (Nygaard et al. 2015). This is because they have prevented the store from getting involved in the matter. For reassuring thee investors it is very much necessary for Walmart to demonstrate a renewed commitment by ensuring ethics and compliance standard of the company. The response of Walmart for reducing the Ethical issues Walmart have faced many ethical issues in the year 2012, therefore in order to avoid such kind of situations in the company, Walmart follows some ways in order to minimize the situations that arises ethical issues (Collins 2015). Walmart is working in order to improve the ethical reputation of the company. In the year 2004, Walmart has formed its Global Ethics Office and helps in releasing a revised statement on Global Ethics (Mick 2015). The main intent of the Global Ethics Office is to spread a corporate ethical culture among the stakeholders of the company. It also helps in providing guidance and in making ethical decision. The Global Ethical helpline is one of the confidential ways for the associates for contacting with the company in order to avoid ethical issues. The organization has an Ethical Standard Team for monitoring the obedience of the provider factories with the help of the companys typical for contractors and local laws (Biong et al. 2015). Walmart claimed that in a shorter time period the organization have interviewed 1000 markets personnel of different countries and this is dedicated to $ 53 million of new processes and procedures. The organization is also providing ethical training to more than 19000 associates for avoiding as well as reducing the ethical issues. Assessing Wal-Marts Corporate Social Responsibility Corporate Social Responsibility is a form of corporate self-regulation that is integrated into the business model. A business corporate social responsibility encompasses a huge number of tactics from giving away a portion of organizations proceeding to charity in order to implement greener business operations (Barnett 2016). A Four type of CSR model contains economic responsibility, legal responsibility, ethical responsibility and philanthropic responsibility. The four models of the CSR are discussed below: Economic Responsibility: This field is amply fulfilled by Walmart. The company is profitable as the total sales assemble in the year is $256.3 billion in the year 2004 (Hopkins 2012).Therefore, the foundation for all other different aspect of CSR is set well. Legal Responsibility: Walmart has a rather poor showing in the area of legal responsibility. It is embroiled in number of different lawsuits and the organization has number of questionable practices (Elder and Dauvergne 2015). The organization is reputed due to low wages and discrimination. It is inevitable for Walmart to get sued by many parties on the same ground. Figure 1: Diagram of Corporate Social Responsibility (Source: Glavas 2016) Ethical Responsibility: The ethical responsibility is partially met by Walmart. Walmart Buy American and Environmental Awareness are the best examples of companys attempt at ethical responsibility (Vracheva et al. 2016). The employers of the organization are offered stock options in order to enable their share in the wealth of the organization. Philanthropic Responsibility: In this section the organization has fared well. Walmart have huge number of corporate initiatives which includes college scholarship, fund raisers and many more (Prieto et al. 2014).It has established The Walton Family Charitable Support Foundation in order to provide facility of their philanthropy. The greatest complainant about Walmart is that it puts other organizations or small companies out of business. The low price strategy of Walmart had created a difficult situation for small companies to compete in the market (Orlitzky 2015). The organization is often accused of being responsible for the downward pressure on salaries and benefits in areas where the company is located. Small organizations have filed lawsuits against Walmart, claiming that the organization uses predatory strategies and procedures in order to put other small companies or organizations out of business (Tian and Slocum 2016). In order to compete against Walmart, other companies have to reduce their wages. Studies revealed that the payroll wages including the wages offered by the company is reduced by 5 per cent after it enters the market of Walmart. Due to this, many citizens have refused to allow Walmart to take residence and this creates another social responsibility issue. Walmart entry can be made detrimental to the environment of the company and its people that causes sprawl, traffic congestion and unwelcome changes to the landscapes. One of the greatest concerns that are associated with Walmart is the urban Sprawl. The construction of Walmart has taken acres of land and as a result the construction procedure created stress on the constructions of roads, parking and many more (Elder and Dauvergne 2015). There is a concern about the number of acres of land that is used for the construction purpose. The construction of Walmart has also created the problem of traffic congestion. The constructions have Walmart attract more number of customers towards the area creating traffic congestion in the areas (Vracheva et al. 2016). The resources used by the organization have also raised any environmental problems like pollution and excess use of resources. The organization is trying to compensate the damages by promoting green products. The responsibility of Walmart towards their competitors is fair. The organizations have contributed greatly to the community by following the methods of volunteerism and donations. This has also increased the efforts of reducing the cost if the commuting by working with the help of the local government for improving the issues related with traffic (Orlitzky 2015). The organizations have promoted the use of green products that minimizes the use of non- renewable resources and also help s in reducing environment pollution. Therefore, Walmart is trying its best by becoming responsive towards the community where it enters. Walmarts Key Stakeholder The stakeholders key or the three attributes helps in identifying the groups of the stakeholders. The three attributes are as follows: Power: It is defined as the power of the stakeholders for influencing the organization. For achieving the goals and objectives of the organization, customers are very much important. Without their support it is impossible to flourish the organization. The organization has provided products to the customers at lower prices by maintaining the quality of the products (Carter and Jayachandran 2012). This helps in influencing the customers more towards Walmart. The communication process between the organization and the customers are done in an ethical manner and as a result it will create a positive impact on the customers (Malhotra et al. 2013). The employees re treated well in Walmart by providing them facilities so that they will became loyal towards the organization. Business partners and suppliers of Walmart collaborate with other business organization properly in order to increase the interest of other company. Figure 2: Diagram showing the attributes of stakeholders key (Source: Martin 2015). Legitimacy: The second attribute legitimacy helps in identifying the relationship and actions of the stakeholders in terms of properness and desirability. Legitimate power is also known as positional power. It is required in Walmart for exercising different activities in the organization. For positional power to be exercised effectively Walmart have associates or employees that wield it must have deemed to have earned it (Chekwa et al. 2014). In Walmart there are power structure and every employee of the organization having some power. The power flows towards the one who readily achieves it in the sense that a leader will exercise more power than the legitimate power by accepting additional acceptance (Ferrell and Fraedrich 2015). Walmart uses the legitimacy power in order to flourish its business and for achieving its goals and objectives. The organization uses various strategies and practices in order to use the attribute of legitimacy within Walmart. Urgency: It is the requirement being set of any organization by stakeholders in terms of the criticality and time sensitivity. Walmart uses the methods of urgency in critical situations. Urgency of any organization is related with the people (Waller et al. 2015). It is comprised of two elements. The first element of urgency is criticality or how importance is it to that organization and person (Lukic 2013). Time sensitivity is known as the second element. Walmart uses the urgency attribute during two situations, either in the critical situations or at the time of sensitivity. On the basis of analysis, the above three attributes are considered as the key of the stakeholders of Walmart. The organizations have created relationship with both the suppliers, customers and the employees of the organization. The stakeholders of Walmart have influences the strategic direction of the organization. Some of the stakeholders have created a positive impact on the organization (Chekwa et al. 2014). The organization uses information in order to guide decisions for achieving a satisfactory leadership position in the management of the stakeholders. Walmart aims at expanding and dominating the market for serving the goals of the employees. Ethical in communications and practises It is very much necessary to have proper ethical communication as well as practices in organizations like Walmart. Ethics concern an individuals moral judgement towards a decision. Ethical practices and behaviour means that Walmart must behave and communicate in an ethical way (Vanleer and Squires 2016). It is important for the organization as it provides number of advantages to them. It helps in attracting customers towards the product of Walmart, thereby increasing and boosting the profits of the organization. It makes the workers less stressed as they have received ethical environment for work which is very much beneficial for them (Nygaard et al. 2015). The leaders and the employees of Walmart who adhere the code of ethics will help in creating an environment that will be suitable. It will be beneficial for both the customers and the employees of the organization. It helps in improving the morality among the employees of Walmart. It can also be helpful in increasing the productivity of Walmart (Stankevi it et al. 2012). For example: The ethics helpline implementation led the employees of the organization to communicate with the companys ethical issues. This has helped in minimizing the number of cases that are ethical related. The Walmart ethical standard team helps in monitoring the compliance of suppliers factories which has increased the production of the organization (Nygaard et al. 2015). Walmart has interviewed more than 10,000 employees in different countries for promoting proper ethical communication and practices in the organization that has increased the internal ethical issues in Walmart. Walmart can adopt more strategies that would help the organization to be more ethical company in future. The recommendations include: Passion: It is very much important for Walmart to adopt policy that would motivate the employees towards avoiding ethical issues in organization. Organizations like Walmart are comprised of number of people, it is very much necessary to excite them towards implementation of new strategies in organization so that they will provide extra effort towards Walmart. Focus on Customers: Organization like Walmart must focus on the communication. The communication process between the customers and the organization must be done in a ethical way so that more number if customers get attracted towards the organization, thereby increasing the profitability of Walmart. Implementation of new strategies: Walmart must re-implement or implement new strategies in order to avoid the ethical issues that it had faced. The organization must adopt strategies and practices that are ethically sound. Result-oriented: Ethics matter a lot in the result of an organization. Walmart should not aim at the results at any cost. Results must be attained in the context of developing something that the customers need and producing and delivering products at cheaper prices. Walmart uses this practices but the organization needs to promote this strategy in such a way so that other small organization does not get out of business. Risk Taking: Walmart must take risks for innovating new technologies and practices within the organization. The organization needs to use ethical innovative ideas for promoting new technologies and practices within the organization. Conclusion It is concluded that the main aim of Walmart is provide products and services at lower prices for saving the money of the customers. The organization uses sustainable methods in order to minimize the uses of non- renewable resources. It is analysed from the study that the organization have implemented certain strategies that have reduced the ethical issues,. Walmart uses ethical practices and way of communication for achieving its goals and objectives. The main weakness of the study is that it does not illustrate the ways of avoiding the ethical issues and bribery in the organization. The strategies that were implemented in the organization minimize the ethical issues but in order to avoid them, Walmart needs to implement some necessary strategies. References Barnett, M.L., 2016. The Business Case for Corporate Social Responsibility A Critique and an Indirect Path Forward.Business Society, p.0007650316660044. Biong, H., Kidwell, R.E., Nygaard, A. and Silkoset, R., 2015. Leading by example; Values-based strategy to instill ethical conduct). Shaw, W.H. and Barry, V., 2015.Moral issues in business. Cengage Learning. Carter, K. and Jayachandran, S., 2012. Consumers and Sustainability at Walmart: A Students Perspective. Chekwa, E., Martin, J. and Wells, K., 2014. Riding on the Waves Of Sustained Competitive Advantage: Consumers'perspectives On Walmart Corporation.International Journal of the Academic Business World,8(2). Collins, D., 2015. Operational Best Practices in Business Ethics: A Practical and Systematic Benchmarking Tool.Business and Society Review,120(2), pp.303-327. Elder, S.D. and Dauvergne, P., 2015. Farming for Walmart: the politics of corporate control and responsibility in the global South.The Journal of Peasant Studies,42(5), pp.1029-1046. Ferrell, O.C. and Fraedrich, J., 2015.Business ethics: Ethical decision making cases. Nelson Education. Foley, P. and Havice, E., 2016. The rise of territorial eco-certifications: New politics of transnational sustainability governance in the fishery sector.Geoforum,69, pp.24-33. Glavas, A., 2016. Corporate Social Responsibility and Employee Engagement: Enabling Employees to Employ More of Their Whole Selves at Work.Frontiers in Psychology,7, p.796. Hopkins, M., 2012.Corporate social responsibility and international development: is business the solution?. Earthscan. Hyatt, D.G., 2012. Walmarts Sustainability Strategy: Defining Sustainable Products (A). Lukic, R., 2013. Sustainable cost management in retail.Revista de Management Comparat International,14(2), p.268. Malhotra, A., Melville, N.P. and Watson, R.T., 2013. Spurring impactful research on information systems for environmental sustainability.MIS Quarterly,37(4), pp.1265-1274. Martin, K.E., 2015. Ethical issues in the Big Data industry.MIS Quarterly Executive,14, p.2. Mick, C.E., 2015. The Effects Of Digital Printers And Cutters On The Value Stream Of United States, Textile Based, Manufacturing. Nygaard, A., Biong, H., Silkoset, R. and Kidwell, R.E., 2015. Leading by Example: Values-Based Strategy to Instill Ethical Conduct.Journal of Business Ethics, pp.1-7. Orlitzky, M., 2015. The politics of corporate social responsibility or: why Milton Friedman has been right all along.Annals in Social Responsibility,1(1), pp.5-29. Prieto, L.C., Phipps, S.T. and Addae, I.Y., 2014. Is Wal-Mart a Social Enterprise? an Exploration of the Relationship between Corporate Reputation, Corporate Social Responsibility Financial Performance.Academy of Strategic Management Journal,13(2), p.51. Stankevi it, E., Grunda, R. and Bartkus, E.V., 2012. Pursuing a cost leadership strategy and business sustainability objectives: Walmart case study.Economics and Management,17(3), pp.1200-1206. Tian, X. and Slocum, J.W., 2016. Managing corporate social responsibility in China.Organizational Dynamics,45(1), pp.39-46. Vanleer, M., Jain, R. and Squires, A.F., 2016. A systems approach to creating a sustainability performance benchmarking and reporting framework.International Journal of Process Management and Benchmarking,6(2), pp.190-215. Vracheva, V., Judge, W.Q. and Madden, T., 2016. Enterprise strategy concept, measurement, and validation: Integrating stakeholder engagement into the firm's strategic architecture.European Management Journal. Waller, M.A., Fawcett, S.E. and Johnson, J.L., 2015. The Luxury Paradox: How Systems Thinking and Supply Chain Collaboration Can Bring Sustainability Into Mainstream Practice.Journal of Business Logistics,36(4), pp.303-305. Weiss, J.W., 2014.Business ethics: A stakeholder and issues management approach. Berrett-Koehler Publishers.

dreams Essays (339 words) - Dream, Psychotherapy, Symbols

The dream I?ve been having is a really recurring dream almost every night that I fall asleep I dream that God sends his angels to destroy me because I apparently have stained blood, in this dream I?m persecuted by arch angels with spears and swords and I am fighting against them until one of them slashes his sword and makes me bleed, then some words come to me ? why do you keep fighting?, all I answer is ? Because I have too? then another angel stabs me on the heart unto a wall and lets me stuck onto the wall with his sword. ?Give up, there is no hope in the path you?ve chosen we will chase you and put an end to you?. All I say after that is ?then I have to get stronger?, I smirk and then wakeup. Based on Freudian interpretations my dream seem to be a wish fulfillment, ?dreams are just the mind''s attempt to make sense of random activity in the brain during REM sleep. Other says that dreams are a way for the unconscious to work out problems that arise during waking life.? And, there is the wish fulfillment theory associated with Sigmund Freud, in which dreams are seen as a way to satisfy unconscious desires that are too upsetting or socially unacceptable to live out in the waking world. Based also on the websites provided seen blood means that. I am being chased by some revelations that have great power and authority, after being hurt that means that those revelations have betrayed me and that by seeing the blood after suffering pain means unfortunate events about the passion I had about those events, at the end after being stabbed meaning the need to be more trusting, but prefer the isolation and conflict on the path I?ve chosen instead on the one someone or something is try ing to make me take and by smiling at the end is that im still looking for something that makes me happy.

40 Fun Activities to Try with Your College Friends

40 Fun Activities to Try with Your College Friends The friendships you establish in college will be some of the most unique relationships you will ever have. Thrown together by chance or circumstance, these friendships usually last a lifetime. Not only that, but these relationships provide ample opportunities to stretch your wings, try new things, and live life a little irresponsibly. If you still have no friends in college, dont worry and find out how to find them! If it is not the case and you’ve been looking for suggestions on just how to spend time with your college friends, we have a few ideas for you. Start a water balloon fight on central campus. Get matching haircuts. Start a game of tag or hide-n-seek in Wal-Mart. Go for a swim in the school fountain. Schedule a Guitar Hero tournament. Plan a cornhole tournament. Girls, schedule a slumber party; boys, crash said party. Put on a lip-sync performance and create your own music video. Host a prom. Go on a road trip. Plan a progressive dinner. Get your fortunes told. Set up a faux senior portrait session; see if this attempt is less awkward than the last. Make an old school mixed CD and then swap the finished products. Have a classic TV marathon (Saved by the Bell for the girls, Dukes of Hazard for the boys). Clean out your closets and have a clothing swap. Plan a cook-off. Eat a picnic on the quad. Create the most absurd outfits imaginable and wear them to the gym for a workout. Ride the bus around town; you’re bound to discover local places you never knew about. Go to a drive-in movie. Host a costume party. Play Spin the Bottle. Throw a house warming party when someone gets new digs. Booby-trap someone’s dorm room. Attend the playoffs for one of your school’s sports. Saran wrap all the public toilets in the dorms. Plan a flash mob. Start a blog. Try an exotic food you can’t pronounce. Help someone else; put together a Relay for Life or Dance Marathon team. Learn about wine; there is more to know than just â€Å"red† or â€Å"white.† Go to a Pride Parade. Learn to drive a 5-speed car. Donate blood. Have a Nerf gun war. Play a milkshake drinking game. Paint pottery. Make a Burn Book, Mean Girls’ style. Have an eating contest. College doesn’t last long. Between all the studying and pointless part-time jobs, there isn’t much time left for fun. Make sure you use your time wisely! Grab your friends and do something reckless, spontaneous, or totally out of character today! We hope our list has inspired you to try something new. If you have more ideas about how to add some spice to the college life, share in comments!

Health Care Informatics Implication for Advanced Practice Nursing Essay

Health Care Informatics Implication for Advanced Practice Nursing - Essay Example Typically, the foundation of a CIS is the electronic medical record or computerized patient record, which is a digital record of the care delivery episode. Building on this electronic record, a comprehensive clinical information system also incorporates computerized order entry and results reporting, as well as integration with information systems in the laboratory, radiology and other diagnostic services, and the pharmacy. A CIS frequently also includes elements of expert systems that perform quality functions such as alerting physicians to potential drug interactions or dose errors. The CIS also provides for data collection and analysis for administrative and quality processes. All nurses have a role in informatics because nurses are primarily responsible for maintaining patients' records and helping doctors and their supervisors by providing relative information about the patients under their care. That is why nurses must embrace the clinical information system to facilitate and improve patients' healthcare related issues. Most of the time nurses practice informatics without prerequisite education. However, it is the need of time that all nurses must be fully aware of the healthcare informatics and well conversant with the use of computers software and equipments so they put their full potencies to facilitate timely delivery of healthcare to the much needing patients under their direct supervision. ... r this may be the lack of understanding on the part of nurses about how they can utilize information technology to improve the patient care services and how they can save time and generate vitally useful information in shortest time span. Nursing Informatics Nursing informatics is composed of theory and skills and it is a combination of nursing science, information science, and computers in which a nurse stands in the forefront duly supported by informatics and computers (Figure 1). According to the American Nurses Association (ANA), nursing informatics is "a specialty that integrates nursing science, computer science, and information science to manage and communicate data, information, and knowledge in nursing practice . . . to support patients, nurses, and other providers in their decision-making . . . using information structures, information processes and information technology" (ANA, 2001, p. 46). FIGURE 1: The relationship of information technology, computer science and nursing. The main purpose of nursing informatics is to improve the health of individuals, families, and communities. This can be done by optimizing the management and communication of information to enhance the availability of patients' medical history and medicine records, promptly responding to any emergency and utilizing information system to deliver in time service to the healthcare management and patients. In this direction, computers can be used to manage and communicate data, information, and knowledge. It is very important that nurses are able to interpret data, utilize the information generated through the collection of data and put their knowledge to make the data meaningful and helpful for timely decision-making process which would enhance the healthcare services. The

Microeconomics Essay Example | Topics and Well Written Essays - 250 words - 2

Microeconomics - Essay Example However, the situation is beneficial to the country in the long term. Currently, US citizens have to cope with high interest rates and high mortgage rates due to the country’s account deficit. The current situation may indicate that the country’s rate of investment is exceeding its GDP. Investment is not a bad thing for the country although it might cause short-term financial strains on the citizens and unfavorable trade balance (Barschel, 2007). However, long-term benefits may propel US to high levels of economic performance. None of the current economic solutions can be applied to reverse the situation. In order to contain the situation, the government needs to encourage savings and reduce borrowings among its people. This will involve giving people the right education in order to sensitize them on the importance of saving within the country. Increasing tax rates will also reduce borrowing and increase savings. The government also needs to cut the countries imports while it promotes exports. Oil accounts for $140 billion of the total US imports. The government should promote energy conservation and use of alternative energy in order to cuts oil imports and to promote favorable trade

Interaction with a Group of Students from UAE Assignment

Interaction with a Group of Students from UAE - Assignment Example Though the young guys from the UAE did respond, they seemed to be a bit hesitant and restrained. It appeared that something was holding them back. In retrospect, now that I have accrued a little cultural literacy, I think that being from UAE, which is a nation with a high Uncertainty Avoidance Index, my initiating a conversation in a spontaneous and abrupt manner made them feel a little ambiguous and anxious (Geert Hofstede 2). In consonance with a their cultural dimensions, our friends from the UAE must have been a little startled to be accosted by a group of young strangers, who were trying to interact with them as if they were long lost friends. However, as our interaction proceeded, things became a little more relaxed and comfortable. We learnt that the young people were students from a reputed business school located at Abu Dhabi and the two mature gentlemen accompanying them were their professors. We showed a great interest in knowing as to how they found the academic environment at Abu Dhabi, the subjects they liked and the careers they intended to pursue after finishing their degree in business. They warmly responded to our curiosity and proceeded to talk about the topics they found really interesting. In the meantime, my friend Steven, who was also pursuing an MBA, asked one of the professors about his opinion regarding an international business issue. The professor proceeded to talk about the issue with a smile. However, as he was talking, Steven interrupted him and candidly contradicted the gentleman regarding a specific aspect of the topic being discussed. Suddenly we felt that a foreboding sense of seriousness too k over the entire group from the UAE. The professors seemed a bit irked and disturbed. Today, I think, UAE being a country with a very high Power Distance Index, the instance of Steven discernibly contradicting a senior professor, must have seemed disrespectful to our Arab friends (Geert Hofstede 2).

Passport Program In The Success Of Hero Honda

Passport Program In The Success Of Hero Honda Hero Honda Motors Limited, based in Delhi, India is a joint venture between the Hero Group of India and Honda of Japan. Verification. It has been referred to as the worlds biggest manufacturer of 2-wheeled motorized vehicles since 2001, when it produced 1.3 million motorbikes in a single year. During the fiscal year 2008-09, the company has sold 3.28 million bikes and the net profit of the company stood at Rs. 1281.7 crore, up 32% from the previous fiscal year. The companys most popular model is the Hero Hondas Splendor, which is the worlds largest-selling motorcycle, selling more than one million units per year. The company introduced new generation motorcycles that set industry benchmarks for fuel thrift and low emission. A legendary Fill it Shut it Forget it campaign captured the imagination of commuters across India, and Hero Honda sold millions of bikes purely on the commitment of increased mileage. Over 20 million Hero Honda two wheelers tread Indian roads today. These are almost as many as the number of people in Finland, Ireland and Sweden put together! Hero Honda has consistently grown at double digits since inception; and today, every second motorcycle sold in the country is a Hero Honda. Every 30 seconds, someone in India buys Hero Hondas top -selling motorcycle Splendor. This festive season, the company sold half a million two wheelers in a single month-a feat unparalleled in global automotive history. Hero Honda bikes currently roll out from its three globally benchmarked manufacturing facilities. Two of these are based at Dharuhera and Gurgaon in Haryana and the third state o f the art manufacturing facility was inaugurated at Haridwar, Uttrakhand in April this year. These plants together are capable of producing out 4.4 million units per year. Hero Hondas extensive sales and service network now spans over 3000 customer touch points. These comprise a mix of dealerships, service and spare points, spare parts stockiest and authorized representatives of dealers located across different geographies. Hero Honda values its relationship with customers. Its unique CRM initiative Hero Honda Passport Program, one of the largest programs of this kind in the world, has over 3 million members on its roster. The program has not only helped Hero Honda understand its customers and deliver value at different price points, but has also created a loyal community of brand ambassadors. Having reached an unassailable pole position in the Indian two wheeler market, Hero Honda is constantly working towards consolidating its position in the market place. The company believes th at changing demographic profile of India, increasing urbanization and the empowerment of rural India will add millions of new families to the economic mainstream. This would provide the growth ballast that would sustain Hero Honda in the years to come. As Brijmohan Lall Munjal, the Chairman, Hero Honda Motors succinctly points out, We pioneered Indias motorcycle industry, and its our responsibility now to take the industry to the next level. Well do all it takes to reach there. Company profile Hero is the brand name used by the Munjal brothers for their flagship company Hero Cycles Ltd. A joint venture between the Hero Group and Honda Motor Company was established in 1984 as the Hero Honda company, India. During the 1980s, the company introduced motorcycles that were popular in India for their fuel economy and low cost. A popular advertising campaign based on the slogan Fill it Shut it Forget it that emphasized the motorcycles fuel efficiency helped the company grow at a double-digit pace since inception. Hero Honda has three manufacturing facilities based at Dharuhera and Gurgaon in Haryana and at Hardware in Uttarakhand. These plants together are capable of churning out 3.9 million bikes per year.[citation needed] Hero Hondas has a large sales and service network with over 3,000 dealerships and service points across India. Hero Hondas customer loyalty program,[clarification needed] the Hero Honda Passport Program, claims to be one of the largest programs of its kind in the world with over 3 million members. The 2006 Forbes 200 Most Respected companies list has Hero Honda Motors ranked at 108. History India became the second largest two wheeler manufacturer in the world and starting in the 1950s with the Automobile Products of India (API) that manufactured the Lambrettas and Bajaj Auto Ltd. with its association with Piaggio of Italy (manufacturer of Vespa scooters) as the largest manufacturers within the country citation needed. The license raj that existed between the 1940s to 1980s in India did not allow foreign companies to enter the market and imports were tightly controlled. This regulatory maze, before the economic liberalization, made business easier for local players to have a sellers market.[neutrality is disputed] Customers in India were forced to wait up to 12 years to buy a scooter from Bajaj. The CEO of Bajaj commented that he did not need a marketing department, only a dispatch department. By the year 1990, Bajaj had a waiting list that was twenty-six times its annual output for scooters. The motorcycle segment had the same long wait times with three manufacturers: Royal Enfield, Ideal Jawa, and Escorts. Royal Enfield made a 350cc Bullet with the only four-stroke engine at that time and took the higher end of the market but there was little competition for their customers. Ideal Jawa and Escorts took the middle and lower end of the market respectively. In the mid-1980s, the Indian government regulations changed and permitted foreign companies to enter the Indian market through minority joint ventures. The two-wheeler market changed with four Indo-Japanese joint ventures: Hero Honda, TVS SUZUKI , Bajaj Kawasaki and Kinetic Motor Company (Kinetic Honda). The entry of these foreign companies changed the Indian market dynamics from the supply side to the demand side. With a larger selection of two-wheelers on the Indian market, consumers started to gain influence over the products they bought and raised higher customer expectations. The industry produced more models, styling options, prices, and different fuel efficiencies. The foreign companies new technologies helped make the products more reliable and with better quality. Indian companies had to change to keep up with their global counterparts. List of models Achiever Ambition 133, Ambition 135 CBZ, CBZ Star, CBZ Xtreme CD 100, CD 100 SS, CD Dawn, CD Deluxe, CD Deluxe (Self Start) Hunk ,Joy ,Karizma, Karizma R, Karizma ZMR FI ,Passion, Passion+, Passion Pro Pleasure .Street ,Splendor, Splendor+, Splendor+ (Limited Edition), Super Splendor, Splendor NXG The joint venture between Indias Hero Group and Honda Motor Company, Japan has not only created the worlds single largest two wheeler company but also one of the most successful joint ventures worldwide. During the 80s, Hero Honda became the first company in India to prove that it was possible to drive a vehicle without polluting the roads. Hero Honda Passport programme. The passport provides you with yet another opportunity to experience the companys continued commitment to you, our valued customer. You will soon see that it opens the door to a host of special offerings that Hero Honda Motors Limited has in store for you. How to use your Hero Honda Passport? Each time we visit an authorised Hero Honda dealership or service center, make sure that we carry your Hero Honda passport with us. We can accumulate points against purchase of spares, accessories and service at Hero Honda authorised dealerships / service centers. The Hero Honda passport will serve as a record book for keeping an account of the points accumulate by you. Each rupee you spend, at the dealership / service center, entitles you to one point. We also earn bonus point when you come for a free service you visit the dealership ( at least thrice a year ), and make purchases worth Rs. 50 per visit. We refer your relatives and friends to purchase a hero Honda motorcycle. At the time of setting our bills, ensure that your Hero Honda passport is endorsed with the earned points. The more we earn your points, the more benefits you receive. What are the benefits of owning a hero Honda passport ? The accumulated points can be used to enjoy a host of special privileges and benefits from time to time. The moment we receive you hero Honda passport, you are automatically covered for one year Accident Insurance RS 1 lakh. We become entitled for special rewards and discounts, the moment you accumulate the specified points, at any of the authorised hero Honda dealerships / service centers. We also receive invitations to exclusive local events, such as movie shows, musical nights and carnivals. Periodic updates will be sent to you, from the hero Honda programmed center, with your point status. Special information and tips regarding your motorcycle, hero Honda Passport Program happenings and exclusive offers from other brands will also be sent to you along with the updates For how long is the Hero Honda Passport valid ? Your hero Honda passport is valid for a period of 3 years from the date of issue. In case of its loss or theft, please contact your dealership or the following address for a replacement. How to use passport Always remember to carry your Hero Honda Passport with you when you visit a Hero Honda authorized dealership/service centre. Every time you do a transaction at a Hero Honda showroom/workshop, the dealer would reward points into your Passport. You are eligible to accumulate points, against purchase of spares, accessories, service and by referring friends to purchase a Hero Honda motorcycle. Do not forget to get your points endorsed on the Programme Points Sheet given in the Passport. Also ensure that these points are entered in duplicate in the Programme Centre copy by the dealer. Every time a Programme Points Sheet gets completed, the dealer would remove the copy from your Passport and send it to Hero Honda. These would increase your chances for event invitation and special offers. Do collect your rewards as soon as you reach the specified milestones. (For more information see the Reward Chart on last page). Please note that points do not become zero after a gift collection in the Passport Programme and you can keep collecting gifts as you reach a particular milestone. Every time you get your bike serviced, get the Free/Regular Service Record Sheet (as given in Section 2 of the Passport) stamped by the dealer. The Service Record Sheet would help you get a Bike Service Certificate, which can be very useful at the time of your bike resale. The Hero Honda Passport Programme is open only to Hero Honda motorcycle owners/customers who are resident Indian nationals. It is not open to non-resident Indians, employees of Hero Honda Motors Limited, and its advertising agencies (Result: McCann and its respective subsidiary companies). The Hero Honda Passport will be issued in the name of an individual only, and not in the name of a company, corporate body or association of persons. The Hero Honda Passport will be issued only to individuals who are 18 years of age, or older. There is a non-refundable registration fee for the programme. two passport-sized photographs must be attached to the application form. the Hero Honda passport is non-transferable. in case, an applicant is the second or subsequent user of the Hero Honda motorcycle, he/ she is required to submit a copy of the registration booklet, duly transferred, along with the Hero Honda Passport Application form. If any Hero Honda Passport holder loses his/her Hero Honda Passport, a new copy of the same will be issued to the member, on payment of the requisite fee The Hero Honda Passport is valid only for three years from the date of issue. It will take minimum of 4 weeks, from the date of enrolling for the Hero Honda Passport Programme, to deliver the Hero Honda Passport. On becoming a Hero Honda Passport Programme member, the applicant authorises all the organisations, with which Hero Honda Motors Limited may finalise arrangements (including Hero Honda Motors Limited), to use data submitted by him/her for marketing and communication purposes, to enhance performance of the Hero Honda Passport Programme. n case of any disputes of differences in connection with the Hero Honda Passport Programme, the same shall be decided by arbitration. The arbitrator shall be the Managing Director, Hero Honda Motors Limited, or any person nominated by him. The arbitration shall be conducted as per the prevailing arbitration laws rules in New Delhi. Hero Honda Motors Limited shall not, in any way, be liable, or be under any obligation to the participant, if the Hero Honda Passport Programme is withdrawn or modified due to statutory enactments, and judicial/ quasi judicial orders. All these amazing rewards and benefits come to you as you earn points in the Hero Honda Passport Programme. Once you become a member, you will earn points for a host of regular transactions that you conduct even now at your local Hero Honda authorized Dealership or Service Center. These include: So all you have to do to earn points rewards is just keep maintaining your Hero Honda motorcycle, buy genuine Hero Honda Spare Parts and accessories and well give you one point for every rupee you spend! Star Club and Treasured Rewards This unique club has been introduced for those members who get their bikes serviced regularly from authorized Hero Honda Service Centers. The Star Club membership not only identifies the member as special for the HHPP family, but also brings in some added benefits like: 30% discount on labour 7.5% discount on spares, till the validity of the Passport Introducing Treasured RewardGood news for all Passport Programme members who have crossed the 1 lakh point mark in the Hero Honda Passport Programme. A new rewards structure has been introduced for all such members The HHPP Treasured Rewards. The HHPP Treasured Rewards will be available at 8 prescribed milestones beginning from 1.25 lakh points and ending at 3 lakh points, with each milestone at a gap of 25,000 points. In other words, the new milestones are placed at 1.25 lakhs, 1.5 lakhs and so on till 3 lakhs Each time a member reaches a milestone a Motorcycle Privilege Voucher of Rs. 1250/- will be given to him. This voucher may be used to avail a discount on the purchase of a new Hero Honda motorcycle. This voucher is transferable and can be given to friends or relatives who may be planning to buy a new Hero Honda motorcycle Under the new Rewards Programme, the mode of recording points will change. The points will now be recorded in 2 books one would be the old Passport with Additional Treasured Rewards sheets for entering points earned through service, spares and accessories and the other would be a Referral Book which will be used for entering referral points. The Referral Book will begin from 1 lakh points. On cro ssing 1 lakh points the members need to retain a photocopy of their old Passport with them and send the passport to the HHPP Programme Centre immediately. On receipt, the old Passport with Additional treasured rewards sheets and the new Referral Book will be sent across to the members enabling them to start redeeming rewards beyond 1 lakh points. conclusion Hero Honda, the World No. 1 two-wheeler company, today announced that it has recently achieved a landmark member base of more than 2 million customers for its Passport Programme. Extending across 1000 authorized Hero Honda dealerships and SSPs, the program has now become India s largest Customer Relationship Management (CRM) Program. The unprecedented success of the CRM program is a testimony of the faith that the customers repose in the company and its products. It was born out of a need to maximize commitment and strengthen the emotional value that binds our diverse set of customers to the Hero Honda brand. With its apt tagline Rishta Dil Ka, the Passport Programme is a strong platform for the company to build long-term relationships with its customers, beyond the point of sale, and communicate its brand image of trust and reliability. The Hero Honda Passport Programme membership is a unique initiative open to the owners of Hero Honda motorcycles. The program offers many tangible a nd intangible benefits to both the customers as well as to the dealers. Members earn points for incurring expenditure at the Hero Honda dealership/workshop, which can later be redeemed against benefits. On the occasion of the commemoration of the 2 million-passport program milestone, Mr. Pawan Munjal, Managing Director, Hero Honda Motors Ltd. said, At Hero Honda our endeavor is to offer the best in product quality to our customers resulting in highest levels of customer satisfaction. The Passport programme not only builds enduring relationships with our customers but also offer them some extra value, beyond just the tangible benefits of our products. This milestone only reaffirms our customers faith in us, which has been pivotal in the companys growth. The Hero Honda Passport programme was rolled out nationally in the year 2001, after a successful pilot in four states in the year 2000. A unique feature of the programme is its reward model, according to which every rupee spent by the member translates into a reward point. These reward points can then be redeemed for exciting gifts. One of the most significant benefits of this program is a free personal accident policy worth Rs. 1 lakh. Insurance claim of over Rs. 6 crore has already been disbursed to dependent families, exemplifying Hero Hondas concern not just for the safety of its customers, but also their family members. With the help of this program, the company has already received over 900,000 referrals thus also giving a fillip to sales through favourable word of mouth. Review of literature With a member base of more than 20 lakh customers extending across 1000 authorized dealers and SSPs, Hero Honda Passport Program is today the countrys largest Customer Retention Management (CRM) program. Under the apt tagline Rishta Dil Ka, the program has become a strong platform for us to build long-term relationship with our customers beyond the point of sale, and take forward our brand image of trust and reliability. It was born out of a need to maximize commitment and strengthen the emotional value that binds our diverse set of customers to the Hero Honda brand. The program represents a fundamental change in looking at the customer as a long-term asset rather than a mere target for sales transaction. Marketing program designed to enhance brand loyalty by cultivating an ongoing relationship between a marketer and his customer. Successful loyalty programs encourage the consumer to buy frequently, to increase the amount spent each time, and to concentrate all or most of their related purchases on that brand. Most loyalty programs offer perks for membership in a club or program and reward purchases. Rewards may be based on the dollar value of purchases made or on the frequency of purchases. The most well-known loyalty programs are airline frequent-flyer programs that offer discounts against future travel called award miles. Most large supermarket chains now have frequent-buyer clubs that offer no-coupon discounts as well as newsletters and affiliate discounts. Loyalty program tactics also include regular communication with customers such as reminder mailings, private credit cards, cross-sell and up-sell offers, satisfaction and opinion surveys, and collection of information for membe r databases. See also frequency discount.

Interview with the vampire :: essays research papers

As you may know, while the film IWTV was in production with David Geffen, the author of the book had no legitimate contact with him or with the studio or with anyone connected with the film. When the announcement was made that Tom Cruise would star as Lestat, I had deep reservations and severe criticisms. So did many many of my readers. I talked openly about this. A curtain thereafter divided me from the entire production, and with reason. Nobody likes to be criticized, and that includes movie people, too. I understand and accept what happened. But to me, movies and books are not like sports. There is no immediate consensus on whether a player had scored a home run or a touch down. So it was okay to speak my mind on the casting, and I don't have any regrets. But to continue... I saw no rough cuts of IWTV; I saw no clips. I went to no screenings. It wasn't until David Geffen, himself took the unusual risk of sending me a VHS tape of the movie, that I saw it. And I approached this tape with a deep fear of being hurt, crushed, disappointed, destroyed by the finished work. When I saw the film on VHS, I came out at once in favor of it, declaring that I loved it. I bought two pages in VARIETY to talk about it in a frank and unedited announcement. No one controlled what I wrote, or had any opportunity to delete any part of it. I loved the film. I said so. I had no idea at the time that the film would be a huge success. I really hoped it would be, but I didn't know. It was so eccentric, so extreme, so weird. I came out in favor of it, fully prepared to sink with it if it failed, that is, to look stupid in my praise of it. I had no other moral and aesthetic choice. I went by the heart. What happened on opening weekend is now history as they say. The movie made about $35 million dollars, and broke all kinds of records to do with seasons and ratings, etc. I don't remember all the details, but it was a luscious American success. And I marveled then and I marvel now. Whatever, I have not up till this date discussed the film in detail publicly. I didn't want to program anyone's response to it.

Chapter 3

Multiple Choice Questions (10 points each) Select the ONE, BEST Answer 1. Adjusting entries: A. Affect only income statement accounts. B. Affect only balance sheet accounts. C. Affect both income statement and balance sheet accounts. D. Affect only cash flow statement accounts. E. Affect only equity accounts. 2. An adjusting entry could be made for each of the following except: A. Prepaid expenses. B. Depreciation. C. Owner withdrawals. D.Unearned revenues. E. Accrued revenues. 3. Accrued revenues: A. At the end of one accounting period often result in cash receipts from customers in the next period. B. At the end of one accounting period often result in cash payments in the next period. C. Are also called unearned revenues. D. Are listed on the balance sheet as liabilities. E. Are recorded at the end of an accounting period because cash has already been received for revenues earned. 4.On May 1, 2007 Giltus Advertising Company received $1,500 from Julie Bee for advertising services t o be completed April 30, 2008. The Cash receipt was recorded as unearned fees and at December 31, 2007, $1,000 of the fees had been earned. The adjusting entry on December 31 Year 1 should include: A. A debit to Unearned Fees for $500. B. A credit to Unearned Fees for $500. C. A credit to Earned Fees for $1,000. D. A debit to Earned Fees for $1,000. E. A debit to Earned Fees for $500. Problem (60 points) SHOW ALL WORKA company has 20 employees who each earn $500 per week for a 5-day week that begins on Monday. December 31 of Year 1 is a Monday, and all 20 employees worked that day. (a) Prepare the required adjusting journal entry to record accrued salaries on December 31, 2004. (b) Prepare the journal entry to record the payment of salaries on January 4, 2005. Dec. 31st, 2004DrCr Salaries expense$2,000 Salaries payable$2,000 Jan. 4, 2005 DrCr Salary expense$8,000 Salary payable$2,000 Cash Paid$10,000 Chapter 3

Strategic Analysis for Imax Essay Example

Strategic Analysis for Imax Essay Example Strategic Analysis for Imax Paper Strategic Analysis for Imax Paper Term of Refrences: We have refered to the book that was assigned to us in this semster which is Management (10th edition) by Stephen Robbins, Mary Coulter and Nehrika Vohra. We also consulted Strategic Management: An Integrated Approch (8th edition) by Charles Hill and Gareth Jones. Another two books that helped us to analyse this case study were Startegic Management : Creating Competitive Advantage (5th edition) by Gregory Dess, G. T Lumpkin and Alan Eisner and Strategic Management (6th edition) by John Pearce and Richard Robinsons Description of Report: In Section 1 we analyize the corporate strategy of IMAX corporation followed by their integration strateges. In Section 2 we access the comparitive advantage of IMAX Corporation. Section 3 talks about the effect of enviorment on IMAX, both internal and external. Section 4 is the breif discussion of Industry Analysis and how IMAX has been performaing compartivily with the rest of the firm, then followed by EFE Matrix. In Section 5 we have calculated and interpreated the financl ratios of IMAX Corporation. SECTION 1: CORPORATE STRATEGY A Corportae strategy is one that specifies what business a company is in or wants to be in and what it wants to do with those business. It ¶s based on the mission and goals of the organization. Mission on IMAX as stated by co-CEO Gelfond is : ? It ¶s[IMAX] is designed to deliever the worlds most immersive movie experience? IMAX designs and manufactures large image producing format cameras and projection system as well as film development,production, post production and distribution to IMAX affiliated theatres worldwide. IMAX has about 400+ theatres in 47 countries. IMAX ¶s strategy is to entice consumers happiest infront of 60-inch plasma screen TV. In order to get a consumer out of his home and make him go and watch an IMAX format movie, the company needs to give them something amazing and something special. And IMAX does it. INTEGRATION STRATEGIES There are basically two types of integration 1. Vertical Inegration 2. Horizontal Integration Page | 1 Vertical Integration The process in which several steps in the production and/or distribution of a product or service are controlled by a single company or entity, in order to increase that companys or entitys power in the market place. IMAX is into vertical integration as it is into processing, distribution and exhibition of its own films. Vertical integration is further sub divided into two parts and that is 1. Forward Integration 2. Backward Integration Forward Integration: Gaining ownership or increased control over distributors or retaliers. When an organization becomes its own distributor its called Forward Integration e. g. a manufacturing firm open up its own franchise. In such situations the organization has control over the output. IMAX initialy was focused on large format films that were educational yet entertaining and the theatres were located in institutions, museums, aquariums and national parks. IMAX forwrad integration took place when it become the distributor of its own produced films. IMAX is relatively small when it comes to rival studios and theatres but in itself IMAX is the leader in the industry when it comes to producing image in large format. IMAX not only played its films in its own theatres but gives its films to other theatres so that they would further promot the movie. Backward Integration: Backward integration takes place when an organization becomes its own supplier. As we have earlier discussed IMAX was mainly focused on producing films that were of large format. To do so obviously they would require special cameras, projectors, screens etc. From past 15 years IMAX has aquired the ownership of the companies listed below: y y y y y y y IMAX Corporation acquiring Imagery Rentals (September 07 1995) Acquiring minority shares in Mainframe Entertaintment Inc. ( June 1999) Acquiring Sonics Associates Inc. 2009 whole ownership) Acquiring David Keighley Production. Acquiring Digital Projection Int Ltd. (September 27 2000) Acquiring Cinema Plus Ltd. (October 29,2006) Acquiring a minority stakes in Laser Light Engines Inc. (July 14,2010) IMAX has a subsidiary company (meaning IMAX has 51% ownership in that company) Sonics Associates Inc which is an audio develpement company. It manufactures the sound systems for IMAX. And David Keighley Production,which i s wholley owned by IMAX, works on the post prouduction. Most of the firms above mentioned were the suppliers to IMAX. In this way IMAX has reduced the chances of suppliers effecting the prices. When IMAX has made itself independent in manufacturing all the aspect required to deliever as high quality large format film, it has access to all the new technology which is an essntail element in survival of IMAX. Page | 2 So we can see that through backward integration IMAX has made itself more stronger by being its own suppiler. In this way it has ganied control over the technology and cost to manufacture the systems that produce 2D or 3D images or audio system. Horizontal Integration When an organization reduces the competition by combinig with its competitors. In case of IMAX it had only two competitor that too produced images in large format. One was which Iwerks which produced films in 15/70 and 8/70 format and ride simulations but its main focus was on the later. Another rival was Megasystems which manfactured large format projection system and provided technical services. But as IMAX has expanded itself to the commercial business but converting an 35mm Hollywood films into large format, Iwerks didnt do that. It limited itself to ride simulation packages that are located in theme parks or museums and such other locations. Megasystem later stopped its production of projction systems and renamed itself to Pollavision. Now Pollavision is only involved in consultancy services of the large format film theaters. If we just analyize these three organizations i. e. IMAX, Iwerks and Pollavision, all of which were the manufactures of high definiton image producing projection systems, then the only organization left in the market that converts commercial movies into large format is IMAX. Its as good as a Monopolist in this feild. And if we analyize IMAX in the category of Studios and theaters, then IMAX is relativily very small. IMAX stands at 12th position when it comes to studios, Disney taking the lead with 1st position. We think it would not effect IMAX if it didnt merge with other studios. It is because of the reason that cosumers have now fully become aware of IMAX format movies,the demand of watching movie in large format is increasing. And IMAX has expereinced a growth rate of 128% in the 1st quater of 2010 alone. It if merges with other studio, it wont be able to work with rest of the studios. IMAX should launch many more commercial theatres where it can run converted Hollywood movies of 35mm to large format so that it can compete against large theatres like Regal Enternaintment Group. Page | 3 BCG MATRIX OF IMAX CORPORATION Market Share High IMAX System Sales Production of Movies Low Conversion of Movies into IMAX format Growth Rate High Low The BCG matrix is a strategic tool used to identify that which business of the organization offers high potentail and which were draining organizations resources. Accorning to the Annual report of IMAX 2007, 51. 04% of the total revenue was generated by IMAX system sales like camers, screens, projection systems etc so we added it in the Stars section. As IMAX has has an advantage over the technology of larger-than-life image production,it should invest more in in RD of the systems used to produce 2D and 3D films. We added  µConversion of movies into IMAX format ¶ in the question mark section on BCG matrix. Its is because that though now-a-days lots of studios convet their movies into IMAX format, IMAX gains not that much from it. As IMAX is not part of any studio,it doesnt get all the share in the profit. The growth is really high in converting movies but the market share is low. In the year 2008-10 IMAX only produced one documentary and that is Space Station. IMAX is orignally know for producing documentary movies but that hasnt given them the oppertunity to have a higher market share. In the motion picture industry,documentry segmant is considered significant than the others. The Motion Picture Association of America gives out seperate award for documantry movies in the grand Oscar Award. IMAX is a brand name not only for the fact that it produces larger-than-life image format but also because of its great collection of documantries which are not only educationall but also entertaining. But as IMAX hasnt produced any movie since 2008, it ¶s not growing on the pace it should. So we added  µproduction of movies ¶ in the star section IMAX should produce more movies. The dogs section of the BCG matrix is empty because there is no such business done by IMAX that should be liquidated. Its earning profit from all the three industries that it is working in i. . photographic equipment and supplies, motion picture and video tape production and Motion Pictur and Video Distribution Page | 4 SECTION 2: PORTER ¶S FIVE FORCES MODEL It helps in accessing where the power lies in a business situation. A series of IMAX Business Talks have been developed to complement the Big Screen Business Education Pack and provide student with an overview of business operations and marketing. Porter ¶s Model is actually a business strategy tool that helps in analyzing the attractiveness in an industry structure. It let you access current strength of your competitive position and the strength of the position that you are planning to attain. Porter ¶s Model is considered an important part of planning tool set. When you ¶re clear about where the power lies, you can take advantage of your strengths and can remove the weaknesses and can compete efficiently and effectively. Porter ¶s Model of Competitive Forces Assumes that there are five competitive forces that identify the competitive power in a IMAX business situation. These five competitive forces identified by the Michael Porter are: 1. 2. 3. 4. 5. Threat of substitute products Threat of new entrants Intense rivalry among existing players Bargaining power of suppliers Bargaining power of Buyers Page | 5 1. Threat of Substitute Products Threat of substitute products (film cinema) means how easily IMAX customers can switch to IMAX competitors product (film cinema). IMAX is the largest and most exciting film format in the world. With crystal clear images, ten times larger than traditional cinema format. Imagine the difference between watching a film at home on video and the same film at a normal 35mm cinema. The film might be the same, but the experience couldn ¶t be more different. Well consider the jump from traditional cinema to IMAX as a similar dramatic leap. Threat of substitute(film cinema) is high when: There are many substitute products (cinema) against IMAX are available Customer can easily find the product or service (film cinema)that Imax ¶s offering at the same or less price Quality of the Imax competitors(film cinema) product is better Substitute product (film cinema) is by a company earning high profits so can reduce prices to the lowest level. In the above mentioned situations, Customer can easily switch to substitute products(film cinema). The screens in IMAX Theatres are the biggest in the world. Up to eight stories high, they are ten times larger than a traditional cinema screen and fill the whole field of human vision. Sound is critical to the IMAX experience. The film soundtracks are delivered through a 15 000 watt digital surround sound system manufactured by Sonics Associates Inc, one of the world leaders in sound system design. Now-a-days you can find DVD ¶s and VCD ¶s with great resoultion. Even in cinema ¶s the quality of the film is really good so there might be customers who wont be willingto pay an extra $4-$5 to watch a movie in 3D. This could prove a fatel blow to the IMAX Page | 6 2. Threat of New Entrants A new entry of a film theatre into your market also weakens IMAX power. Threat of new film theatre depends upon entry and exit barriers. Threat of new film theatre is high when: Capital requirements to start the business are less Few economies of scale are in place Customers can easily switch (low switching cost) Your key technology is not hard to acquire or isn ¶t protected well IMAX film theatre is not differentiated There is variation in attractiveness of segment depending upon entry and exit barriers. That egment is more attractive which has high entry barriers and low exit barriers. Market research carried out by World ¶s Biggest Screens Pty Ltd has helped to define the IMAX brand in the competitive film market and understand the key drivers (and barriers) to attendance. The lessons drawn from the research indicate that IMAX can sustain a positioning as a premium cinema destination not simply b ecause it offers a better experience than other cinema destinations, but because it offers a very different cinema experience. IMAX is perceived as being at the cutting edge of new cinema, potentially offering new experiences in film. The IMAX. Experience gives visitors the sense of real exhilaration  ± a real  µbuzz ¶. It is also about the strong sense of realism of the film style which allows visitors the feeling of destination exploration; the feeling of  µbeing there ¶. There are main threats of IMAX film theatre: Primary threat: Conventional cinemas Home viewing: Pay TV, Video, free to air TV Other Darling Harbour Attractions: Sydney Aquarium Other Sydney Attractions: harbour cruises, shopping, Other Sydney Attractions: harbour cruises, shopping The Rocks area, Opera House tours, Taronga Park Zoo, Sydney Tower, bus tours, museums art galleries Some new film theaters enter into industry and low performing film theaters leave the market easily. When both entry and exit barriers are high then profit margin is also high but film theatres face more risk because poor performance companies stay in and fight it out. When these barriers are low then film theatres easily enter and exit the industry, profit is low. The worst condition is when entry barriers are low and exit barriers are high then in good time ¶s film theatres enter and it become very difficult to exit in bad times. Page | 7 3. Industry Rivalry Industry rivalry means the intensity of competition among the existing film theatres in the market. Intensity of rivalry depends on the number of film theatre and their capabilities. Period of uncertainty during liquidation and restructuring in 2000. Poor film line up, combined with the aftershocks of company restructuring, resulted in low attendance figures. Industry rivalry is high when: There are number of small or equal film theatre and less when there ¶s a clear market leader. Customers have low switching costs Industry is growing Exit barriers are high and rivals stay and compete Fixed cost are high resulting huge production and reduction in prices The marketing strategy will aim to achieve its objective in three key areas: The release of a minimum of 6-8 new films in each market A groups sales program with a key focus on niche visitor groups e. g. schools, groups and functions/ events. Value-based promotions to drive business in traditional ly softer trading periods The marketing strategy will be executed using the full range of the marketing mix including: Advertising Public Relations Internet/ Email Promotions Events Sales Point of Sale These situations make the reasons for advertising wars, price wars, modifications, ultimately costs increase and it is difficult to compete. 4. Bargaining Power Of Suppliers Bargaining Power of supplier means how strong is the position of a film theatre. How much film theatre ¶s suppliers have control over increasing the Price of supplies. Film marketing takes the form of a combination of elements: advertising, publicity promotions, word of mouth, website and e-communications. Films are released usually every 6-8 weeks in a staggered program timed to coincide, where possible, with key school holiday periods. The release of a new film is the prime driver to attendance. Each new film release aims to sell the IMAX experience through the title, reminding all consumers of the key IMAX proposition (i. e. IMAX is a giant screen cinema experience) whilst presenting a  µcall to action ¶ to visit the theatre again, or to trial for the first time. Page | 8 Suppliers are more powerful when Suppliers are concentrated and well organized a few substitutes available to supplies Their product is most effective or unique Switching cost, from one suppliers to another, is high Films are not an important than other The criteria for title selection are based on a number of factors: Format: 2D or 3D? 3D films have now surpassed 2D films as the most popular. There is however, a limited supply of 3D films (They ¶re more expensive to make) to choose from. Experience of similar titles: An examination of the success of previous titles and the potential audience reaction to new titles. Success of titles in other markets: If a film has performed well overseas, it may do well in Australia also. Title testing: Testing the appeal of a film title with current IMAX audiences through surveys site. Expand the market: Titles that present an opportunity to draw a new market into the theatres and encourage trial. When suppliers have more control over supplies and its prices that segment is less attractive. It is best way to make win-win relation with suppliers. It ¶s good idea to have multi-sources of supply. conducted on 5. Bargaining Power Of Buyers Bargaining Power of Buyers means, How much control the buyers have to drive down your products price, Can they work together in ordering large volumes. Buyers have more bargaining power when: Few buyers chasing too many goods Buyer purchases tickets of film theatre Film theatre is not differentiated Buyer ¶s cost of switching to a competitors ¶ product(film theatre) is low Film ticket cost is low Page | 9 Buyers are price sensitive Credible Threat of integration Our market research indicates that 78% of those who have seen an IMAX film express the intent to return. Activities to encourage this process include: Using the interior of the theatre building to highlight new releases Screening of trailers at least 3 months prior to the feature release Interior light boxes featuring coming soon films e. g. behind box office Whatà ‚ ¶s On Brochures featuring  µcoming soon ¶ films Buyer ¶s bargaining power may be lowered down by offering differentiated film theatres. If IMAX ¶ serving a few but huge quantity(tickets)ordering buyers, then they have the power to dictate IMAX. PORTER ¶S GENERIC STRATEGIES According to porter ¶ strategies allow company to gain competitive advantage from three different bases: Cost Leadership Strategy: A primary reason for pursuing forward, backward and horizontal strategies is to gain cost leadership benefits IMAX could be considered a part of three different industries: Photographic equipment and supplies, motion pictures and video tape production and motion picture and video distribution, it is called horizontal integration. The purpose is overhead is kept minimum, and the firm does everything it can to cut costs. IMAX should be produce and distribute its movies in digital format also this shift will allow it to lower its operational cost significantly. Differentiation Strategies: The unique feature of IMAX is large format films, which differentiated it with others filmmakers and production houses. Its library of films and by locating itself in prestigious venues firm had created a unique brand image. Its goal is to provide his customers with high quality entertainment and documentary movies with 3D images and distortion free sounds. For this IMAX had even developed a 3D directional sound technology that offered location and depth to the audio. If IMAX is able to continuously improve the quality and reliability of its programmes, it may have competitive advantage that can ¶t be taken away. It ¶s not enough simply to create a competitive advantage. A corporation must be able to sustain that advantage. And IMAX must be developed the skills knowledge and capabilities to design and assemble the critical elements in its projector and camera systems with technological changes. Page | 10 Focus Strategies: A successful focus strategy depends upon an industry segment that is of sufficient size, has good growth potential and is not crucial to the success of other major competitors. Growth opportunity for IMAX is to focus on retention of the customers. According to IMAX more than 20 percent of its audience were school group, about 70 per cent of its viewers were between 19 and 65 years of age, and the majority were college or university educated. IMAX needed to figure out a way to attract this demographic. To retain them IMAX should focused on educational documentaries and entertainment movies. As a result zoos, museums software, TV shows and toys were all redesigning their products to entertain and educate. The Value Chain The business of a firm can best be described as a value chain in which total revenues minus toal costs of all acrivities undertaken to develop and market a product or service yields value. Given is the semi income statment of IMAX. We can see that for two years 2007 and 2008 IMAX faced loses PERIOD ENDING Total Revenue Cost of Revenue Gross Profit Operating Expenses Research Development Selling General and Administrative Non Recurring Others Total Operating Expenses Operating Income or Loss Dec 31, 2009 171,211 89,659 81,552 3,755 56,207 1,247 546 61,755 19,797 Dec 31, 2008 Dec 31, 2007 106,226 115,832 68,766 74,673 37,460 41,159 7,461 43,652 2,005 526 53,644 (16,184) 5,789 44,705 562 547 51,603 (10,444) Page | 11 SECTION 3: ENVIRONMENTAL ANALYSIS: IMAX interacts with its environment as it takes inputs and distributes its output, in form of large screen format movies with 3D images and distorted sound. Like every organization IMAX has also external and internal environment which affects its outputs. The External Environment The factors and forces outside the IMAX Corporation that affects its performance are its external environment. External environment of the IMAX Corporation has two components: a) Specific environment b) General environment Specific Environment Specific environment includes those forces and factors those directly relevant to the achievement of the IMAX ¶S goals. The main forces that that make the IMAX µs specific environment are: Customers: Customers represent potential uncertainty to the IMAX because their taste changes. Therefore IMAX should need to create educational and entertainment movies and show them in full screen format. Demand for animated and technological base movies is increasing rapidly. IMAX should merge with some large theaters like Pixer to fulfill the demands of their customers. Suppliers: IMAX had developed the skills, knowledge and capabilities to design and assemble the critical elements involved in its projector and camera systems, though most of the components were purchased from the suppliers with whom it maintained long run relationships. So it is supplier of its own cameras and projection systems. Competitors: IMAX has also competitors like other profit and non profit organizations. Now it faces competition from digital cable, satellite, DVDs and the internet all of which offer customers a much broader choice. Within the large format film segment, Iwerks was the only rival to IMAX. General Environment Includes the political/legal social cultural demographic, technological that affects the IMAX indirectly. Movies which are presented in IMAX theater should represent the social culture of Page | 12 that area, where it going to be released. Mostly the audience is college or university educated, are between 19 and 65 years of age, so its projects should fulfills theirs desires. The Internal Environment Internal environment of IMAX includes the procedures and inputs which are used to attain its goals. IMAX had successfully developed 3D cameras and projection systems to produce realistic 3D images. IMAX projection system produced images on screen that were brighter and sharper those found in conventional movie theater. The company had even produced a 3D directional sound technology that offered location and depth to the audio. IMAX also focuses on its research and development programmers ¶ to present movies in latest technological method . for this IMAX had spend $12. 6 million in research and development in past three years. As part of lease IMAX advised customers on theater design, supervised the installation of the system, trained theater staff and maintain the system. Page | 13 SECTION 4: INDUSTRY ANALYSIS Industry analysis is an market assessment tool designed to provide a business with an idea of the complexity of a particular industry. Industry analysis involves reviewing the economic, political and market factors that influence the way the industry develops. Major factors can include the power wielded by suppliers and buyers, the condition of competitors, and the likelihood of new market entrants. We analyize the positon of an organization in the industry. In this case, we will be analyizing IMAX ¶s position in the industry which is Photographic Equipment and Supplies. IMAX shares performance according to 30th July 2010 is as PERFORMANCE SUMMARY Name IMAX Corporation Ticker IMAX Change 0. 13% Photographic Equipment And Supplies YHoh726 0. 24% The above table shows us the performance of IMAX corporation in the share market. IMAX is losing by -0. 13% of the share price where as the rest of the industry is booming at 0. 24% of their share prices. The main competitors of IMAX are : Canon Inc Eastman Kodak Co X-Rite Incorporated Ballantyne Strong Inc Ikonics Coropration. Given below is table which tell us the different share prices of different firms in the industry andwhose share prices are increasing in th industry Page | 14 Top Photographic Equipment Supplies Companies By Market Cap Company Canon Inc. Eastman Kodak Co IMAX Corporation X-Rite Incorporated Ballantyne Strong Inc Ikonics Corporation Symbol CAJ EK IMAX XRIT BTN IKNX Price 43. 32 3. 97 15. 47 3. 70 7. 72 7. 30 Change 0. 28% 1. 49% 0. 13% 1. 65% 0. 39% 4. 14% Market Cap 53. 48B 1. 07B 982. 67M 316. 04M 108. 80M 14. 37M P/E 27. 23 4. 12 27. 14 N/A 43. 37 N/A We can see that on 30th July 31, 2010 Canon Inc. was leading the photographic equipment and supplies industry with share price as high as 43. 32. It expereinced an increse in its market share by 0. 8% and has the highest market capitalization in the industry by $53. 48 Billion. Where as IMAX Corporation, Eastman Kodak and Ballantyne faced a downfall in the prices of their shares by 0. 13%, 1. 49% and 0. 39% respectivily. GROWTH OF IMAX CORPORATION Below is the tabel which shows us quaterly growth of IMAX Corporation as compared to rest of the firm of the industry Leaders in Quarterly Reven ue Growth (YoY) Imax Corporation Ballantyne Strong, Inc. Eastman Kodak Canon Inc. X-Rite Incorporated Ikonics Corporation 128. 00% 47. 80% 30. 90% 10. 00% 9. 90% 3. 40% As on 30th July 2010, IMAX has expereiced growth of about 128% in an quater alone. This is amazingly high when we compare with rest of the industry. IMAX with its great control and knowledge of technology has outrun Canon Inc,who had experienced an increase in its share prices at mentioned above. IMAX also converting movies into large format,has helped to increase its revenues. This quater alone IMAX has a list of hit movies which have been converted into IMAX format. Toy Story 3, The Twilight Saga: Eclipes, Inception, Resident Evil, Avatar, Legends of The Gurdians are a few of them. Consumers interest watching a movie in IMAX format has been increasing alot. Page | 15 Following IMAX is Ballantyne Strong Incorporation which has expereinced growth of about 47. 80% this quarter. The growth is good but comparing it with IMAX Corporation, its very low. Laging behind in the league of growth is Ikonics Corporation with about only 3. 40%. Ikonics is going through rough time, with only 3. 40 % growth this quater and fall in the price of it shares. IMAX CORPORATION VS INDUSTRY We will now analyize IMAX position against rest of the industry. Below is the table which tells us about the different aspects that will detemine the value and rank of each organization. Statistic Market Captialization P/E Ratio (ttm) PEG Ratio(5 yss expected) Revenue Growth (Qtrly YoY) EPS Growth(Qtrly) Long Term Growth Rate (5yrs) Return on Equity(ttm) Long Term Debt Equity (mrq) Divident Yeild (annaul) Where: Ttm= Trailing Twelve Months Mrq= Most Recent Quater Qtrly= Quaterly Industry Leader IMAX CAJ 53. 48B 982. 67M BTN 43. 37 27. 14 CAJ 0. 87 0. 66 IMAX 128. 00% CAJ 220. 20% N/A IMAX 25. 00% EK 84. 25% N/A N/A IMAX Rank 3/6 3/6 2/6 1/6 N/A 1/6 N/A N/A N/A In finance, the Trailing twelve months (TTM) is a moving measurement calculated using a companys interim or quarterly reports together with its annual report to show the twelve months of income statement data trailing the end date of an interim or quarterly report. Coming back to the case study, IMAX is doing really good when it comes to ranking. In market captialization, IMAX stands 3rd as comapred to the 6 firms in the industry. It leads the industry in Quaterly Growth and in five years the firm most likely to have the highest growth rate is IMAX Corporation itself. IMAX gains the 2nd rank when it comes to Price Earning to Growth Ratio (PEG Ratio). The above statistics tells us that IMAX has growth potential Page | 16 AS PER PRICE TO EARNINGS VALUE Leaders in P/E Ratio (ttm) Ballantyne Strong Inc. Canon Inc. Imax Corporation Eastman Kodak Company 43. 54 27. 29 27. 18 4. 18 The P/E ratio (price-to-earnings ratio) of a stock (also called its P/E, or simply multiple) is a measure of the price paid for a share relative to the annual net income or profit earned by the firm per share. It is a financial ratio used for valuation: a higher P/E ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower P/E ratio. Very intrestingly we saw earlier that Ballantyne Strong Inc expereinced a decrese in its share price by 0. 39% but here we see that investors are more willing to invest in Ballantyne Strong as compared to Canon Inc. IMAX Corporation ¶s P/E ratio is $27. 18, the amount investors are willing to pay to have a single share of IMAX Conclusion As the above statistics has shown that up to 30th July 2010, the leader of the Photographic Equipment and Supplies industry was Canon Inc. IMAX Corporation took the 3rd rank. But in case of growth, IMAX has more potentail than any of the firms with 128% growth the first quater of 2010 alone. This shows that IMAX will lead the photographic equipment and supplies industry in coming future THE EXTERNAL FACTOR EVALUATION MATRIX (EFE) An EFE matric allows strategies to summerize and evaluate economic, social, cultural, demographic, enviormental, technological, legal and comeptetive information. Both the opportunities and threats effecting the organization are listed. It is used to see the competitness of a firm. The highest possible total weighted score for an organization is 4. 0 and the lowest possible is 1. 0. The average total weighted score is 2. 5. A 4. 0 score indicates that an organization is respoding in an outstanding way to exsisting opportunites and threats in the industry Through the matrix we see that the strategies opted by IMAX corporation are effective. Its is throught the fact that the weighted score of all the opportunities and threats is above 2. . so we can see that IMAX is responding effectivly to the opportunites and threats comign tis way. The matrix is given on the next page Page | 17 OPPORTUNITIES Increase in the demand of Hollywood Movies Teaming up with other studios for joint ventures Opening IMAX theatres within Multiplexes No competitor that is converting movies into lareg format Converting existing multiplexe screens to IMAX format MPAA has g iven documantary movies segmant special significance Opening up IMAX in Pakistan and other countries High Populartiy of watching IMAX format movies WEIGHT 0. 07 RANKING 3 W. S 0. 24 .10 2 0. 20 0. 12 4 0. 48 0. 05 1 0. 05 0. 08 2 0. 16 0. 05 1 0. 05 0. 04 1 0. 04 0. 09 3 0. 27 THREATS Piracy of movies High quality DVD s Home theatre Systems Social factor Union of labor Joint partner, AMC rolling out its own big screesns Political Intervention Change of Taste of consumers Total 0. 04 0. 02 0. 04 0. 07 0. 13 0. 07 1 2 3 4 3 4 0. 04 0. 04 0. 12 0. 28 0. 39 0. 28 0. 02 0. 01 1. 00 2 3 0. 04 0. 03 2. 71 Page | 18 SECTION 5: IMAX ¶S FINANCIAL ANALYSIS Activity (Asset Utilization) ratios: Day ¶s sales in Receivables: ays sales in receivable Days sales in Receivable 300 200 100 0 2004 2005 2006 2007 Days sales in Receivable 53. 413 224. 57 73. 357 80. 369 Days sales in Receiva ble years Interpretation: The number of day ¶s sales in receivables relates the amount of the accounts receivables to the average daily sales on account. IMAX shows better improvement in 2004 where his days sales in receivable is 53. 413 days and then in 200 5 his days sales in receivable is 224. 57days which is not good for company and then in 2006 2007 IMAX shows big improvement in their days sales receivables. Page | 19 Account Receivable Turnover: accou t ece a e tu o e Account ece eab e Turnover 6 4 2 0 2004 2005 2006 2007 Account 2 493 2 516 5 025 4 542 ece ve ab e Turnover yea s Account ece veab e Turnover Interpretation: The Account Receivable Turnover ratio gives the number of times account receivable is collected during the year. it indicates the liquidity of receivables. In general the higher the account receivable turnover, the better since the company collecting quickly from customers. In 2006 IMAX has greater account receivables turnover as compared to other years indicating the highest liquidity of receivables and in 2007 IMAX shows some decline and is significant and indicates some problem in 2007 which is 4. 542 times as compare to 2006 which is 5. 025 times. Page | 20 Account Receivable Turnover in Days: rn ver Accoun Receivable Tu nover in Days 200 100 0 n receiable Accoun Receivable Turnover in Days 2004 2005 2006 2007 72. 64 80. 37 acc Accoun 146. 4 145 Receiv able Turnov years Interpretation: The account receivables turnover can be expressed in term of days instead of times per year. In 2004,2005 2006 IMAX is efficient in managing its receivables and shows the positive trend in collection of its receivables turnover in days indicate an improvement in the control of receivables but in 2007 IMAX some negative trend in collection of its receivables turnover in days. Page | 21 Days Sales in Inventory: Days Sales in Inven ry days sales in inven ry 200 100 0 Days Sales in Inven ory 2004 2005 2006 2007 151. 09 141. 46 127. 74 107. 78 Days Sales in Inven ory years Interpretation: It relates the amount of ending inventory to the average daily cost of goods sold . t gives an indication of the length of time that it will take to use up the inventory through sales. the days sales in inventory estimates the number of days that it will take to sell the current inventory . in our data IMAX shows positive trend means that it takes less and less days to selling its inventory which is shown in the graph and this is the good symbol for the company. Page | 22 Inventory Turnover: In ventory Turnover 4 3 2 1 0 2004 2005 2006 2007 Inventory Turnover inventory turnover Inventory 2. 44566 2. 64477 3. 14123 3. 38653 Turnover years Interpretation: It indicates the liquidity of the inventory in times per year. IMAX shows the positive trend in their inventory turnover. Which is good for the company and increase in the inventory turnover indicates that the IMAX is not stocking the goods. Page | 23 Inventory Turnover in Days: Inven ory Turnover in Days inven ry in days 200 100 0 Inven ory Turnover in Days 2004 2005 2006 2007 Inven ory 149. 244 138. 008 116. 197 107. 78 Turnover in Days years Interpretation: The inventory turnover figure can be expressed in the number of days instead of times per year. It gives an indication of the length of time that it will take to use up the inventory through sales. The day ¶s sales in inventory estimate the number of days that it will take to sell the current inventory. IMAX shows the positive trend in their inventory turnover in days, means IMAX takes less and less days to sale its inventory which shows the improvement in inventory turnover in days. Page | 24 Operating Cycle: Opera ing Cycle 200 pera ing cycle 150 100 50 0 Opera ing Cycle 2004 2005 138 2006 2007 Opera in 149. 2 g Cycle 116. 2 107. 8 years Interpretation: The operating cycle represents the period of time elapsing between the acquisition of goods and the final cash realization resulting from sales and subsequent collections. IMAX shows the positive trend and takes the less number of days to convert inventory and receivables to cash. Page | 25 Liquidity Ratios: Working Capital: Worki pi l i l Worki worki pi l Worki pi l y r Interpretation: The working capital of a business is an indication of the short run solvency of the business. It is the difference between the current assets and current liabilities. If current liabilities exceed the current assets then it shows the bad short run solvency of the firm. In 2004 2005 IMAX shows that their current assets are more than their current liabilities indicating the better short tern solvency as compared to the 2006 2007 in which IMAX shows that their current assets are less than their current liabilities indicating the shows the bad short run solvency of the IMAX and unfavorable sign. Page | 26 Current Ratio: Curren Ra io 3 2. 5 c rren ra i 2 1. 5 1 0. 5 0 Curren Ra io 2004 2005 2006 2007 Curren Ra io 1. 2777 2. 4781 1. 1991 0. 8973 years Interpretation: Current ratio which is subject to seasonal fluctuations is used to measure the ability of an enterprise to meet its current liabilities ut of current assets. The above graph of IMAX shows that in 2005 his ability to pay their short term liabilities is much stronger as compared to others years. which shows the decline over the year. Page | 27 Acid-Test Ratio: Acid Tes Ra io 2 acid es ra i 1. 5 1 0. 5 0 Acid Tes Ra io 2004 0. 779 2005 2006 2007 Acid Tes Ra io 1. 8289 0. 7335 0. 571 years Int erpretation: The acid test ratio relates the most liquid assets to current liabilities because it ignores the inventory figure while collecting the short term debt paying ability of the firm. On examining the company, we can find that in 2005 IMAX is greater to 1 means that IMAX shows strong position enough liquid assets to pay their short term debt while ignoring its inventory. In 2004 2006 IMAX is closer to 1 means that it is somewhat in a better condition while ignoring its inventory. Page | 28 Cash Ratio: Cash Ra io 0. 5 0. 4 cash ra i 0. 3 0. 2 0. 1 0 2004 2005 2006 2007 Cash Ra io Cash 0. 46177 0. 39196 0. 36034 0. 22757 Ra io years Interpretation: The cash ratio relate to extreme analysis of the firm debt paying ability. Because in this ratio we only take the figures of such liquid assets as cash in bond, bank balances, marketable securities, the ratio shows that how much firm ¶s cash in their hands and accounts to pay their short term liabilities . it gives us the extreme closer view of the firm short term paying ability. The above graph of IMAX shows that the company has not more cash in hand and at bank to pay its short term liabilities. In fact the cash ratio is more extreme analysis of the firm debt paying ability so we can say that IMAX is in better conditions but not as much good because its ratio is less than in all four years. Page , sales are not adequate in relation to the available working capital. The above graph of IMAX shows working capital turnover ratio of different firms over the tfour years. e can see that IMAX have positive working capital turnover ratio in 2004, 2005 2006 because, their current assets are more than their current liabilities while in 2007 IMAX has more liability that ¶s why their working capital turnover ratio show the negative trend. in comparison the 2006 is better off in respect to their ratio as compared to 2004 2005 which indicates that in 2006 working capital is efficiently utilizing to generate sales as compared to other years and in a better position Page | 30 Operating Cash flow/Current Liabilities Ratio: OCF/Curren liabili ies OCF/c rrent liabilities 0. 2 0. 1 0 -0. 1 OCF/Curren liabili ies 2004 2005 2006 2007 OCF/Curr 0. 1819 0. 0288 -0. 085 -0. 084 en liabili ies years Interpretation: This ratio is an indication of short term debt paying ability of the firm. This ratio shows the relationship if cash generated from operating activities to the current liabilities of the firm. If the firm generates enough cash from its operations which is greater than its liabilities than the firm is in better condition and its short term debt paying ability. The above graph of IMAX in years 2004 2005 shows that there are a positive trend, means the firm generates enough cash from its operations which is greater than its liabilities than the firm is in better condition and its short term debt paying ability while in 2006 2007 shows the negative trend, shows IMAX have not cash to meet their current liabilities. Page | 31 Leverage (Solvancy, Long-Term Debt) Ratios Debt Equity Ratio: Deb Equi y Ra io 0 debt eq ity rati -5 Deb Equi y Ra io -10 -15 2004 2005 2006 2007 -6. 448 -13. 15 -4. 903 -3. 436 Deb Equi y Ra io years Interpretation: The debt/equity ratio is another computation that determines the entity ¶s long term debt paying ability. Thus computation compares the total debt with the total shareholder ¶s equity. The debt/equity ratio also helps determine how well creditors are protected in the case of solvency, for the prospective of long term paying ability, the lower this ratio is the better of the company ¶s debt position. The above graph shows that IMAX is not in a better condition showing the negative trend in all four years . The negative indicates that their stockholder ¶s equity figures in negative that ¶s why they lie below the zero line Page | 32 Debt Ratio: Deb Ra io 1. 5 debt ratuo 1 0. 5 Deb Ra io 0 2004 2005 2006 2007 Deb 1. 18356 1. 08234 1. 2562 1. 41047 Ra io years Interpretation: This ratio also indicates long-term debt-paying ability of the firm. the debt ratio indicates the percentage of assets financed by creditors and its help to determine how well creditors are protected in the case of insolvency, if the creditors are not well protected the company is not in a position to issue addition long term debt paying ability, the lower this ratio the better the company position. In the above graph of IMAX clearly shown that in 2005 is better off as compared to other years. In the 2005 the IMAX much better condition as compared to others because its total assets contain not much from the creditor side. Those firms whose ratio is less then are better off, indicating that their assets do not include more from creditors ¶ side. Page | 33 Operating Cash Flows/Total liabilities: OCF/To al liabili ies OCF/total liabilities 0. 06 0. 04 0. 02 0 -0. 02 -0. 04 2004 2005 2006 2007 OCF/To al liabili ies OCF/T 0. 042 0. 007 -0. 02 -0. 02 o al liabili i es years Interpretation: This ratio is also indication of long term debt paying ability of the firm. This ratio shows the relationship if cash generated from operating activities to the total liabilities of the firm. If the firm generates enough cash from its operations which is greater than its liabilities than the firm is in better condition and its long term debt paying ability includes transitioned interest debts and principal sum in good. The above graph of IMAX shows that in years 2004 2005 are generating enough cash from operations to meet their long term and short term debt because in these years the IMAX shows the positive trend, while in years 2006 2007 the IMAX shows the negative trend in generating enough cash to meet their liabilities over the two periods. The higher the ratio the better will be the position of the fir Page | 34 Long-term Debt-Equity Ratio: Long erm Deb Equi y Ra io l ng term debt equity rati 0 -5 -10 -15 2004 2005 2006 2007 Long erm Deb Equi y Ra io Long -4. 968 -10. 08 -3. 706 -2. 566 erm Deb Equi y Ra io years Interpretation: This ratio also shows the long term debt paying ability of the firm. This ratio relates the portion of total equity financed by the long term debt. The lesser the ratio the better will be the companys position and its ability to pay its debts. The above graph of IMAX shows that in all four years there are negative, the negative trend of the IMAX is due to that their total equity figure is in negative which leads to lie their ratio below the zero line. Page | 35 Time Interest Earned: Time In eres Earned time interest earned 2 1 0 -1 -2 Time In eres Earned 2004 2005 2006 2007 Time In eres Earned 0. 77132 0. 93299 -0. 4019 -1. 2075 years Interpretation: The time interest earned ratio indicates a firm ¶s long term debt paying ability from the income statement view. If time interest earned is adequate, little danger exits that the firm will not able to meet its interest obligations. If the firm has a good coverage of the interest obligation, it should be able to refinance the principal when it comes due. In the above figure of IMAX show the positive trend in years 2004 2005 means that in good position to pay its interest obligations on the long term liabilities while in 2006 2007 shows the negative trend and are not in good position to pay its interest obligations on the long term liabilities and it may seem also be difficult for the IMAX to pay their principals amount of their long term debts. In 2004 2005 the IMAX shows the positive trend indicating that it is generating enough income to meet its interest obligations and is able to pay its principal some debt as compared to other years. Page | 36 PROFITABILITY ANALYSIS Net Profit Margin: Net Profit M r i . r i . t rofit . . . Net Profit M r i . . . . Net Profit M r i y r Interpretation: A commonly used profit measure is return on sales often termed net profit margin. This ratio gives a measure of net income rupees generated by each dollar of sales. it is desirable for this ratio to be high, competitive forces within the industry, economic conditions, use of debt financing an operating characteristics such as high fixed costs will cause the net profit margin to vary between and within the industry,. he above graph of IMAX net profit margin shows a profitable position over the two years and its profit from sales increases substantially from 2004 to 2005, while in next two years the IMAX faces losses on sales continuously i. e. 2006 to 2007. Page | 37 Total asset Turnover: Total asset Turnover total asset turn ver 0. 62 0. 6 0. 58 0. 56 0. 54 0. 52 2004 2005 2006 2007 Total asset Turnover 0. 5701 0. 6122 0. 5948 0 . 5569 Total asset Turnover years Interpretation: The total asset turnover measures the activity of the assets and the ability of the firm to generate sales through the use of assets. The above graph of IMAX shows that who efficiently the years uses their assets to generate sales. The high figure shows that that the firm ¶s net sales are than its total assets. It indicates that the firm is not using enough of the assets to generate sales. In the above graph of IMAX, the activity of assets in the years 2004 2007 is greater than the other years that are why its ratios is lower as compared to other. As we look towards the years 2005 2006 its figure is higher indicating that this firm is not using much of its assets to generate sales. Page | 38 Return on Assets: Return On Assets 0. 1 return n assets 0. 05 0 -0. 05 -0. 1 -0. 15 2004 2005 2006 2007 Return On Assets Return 0. 043 0. 061 -0. 077 -0. 13 On Assets years Interpretation: Return on assets measures the firm ability to utilize its assets to create profits by comparing the profits with the assets that generate the profits. The higher the firm ¶s return on assets better will be the company ¶s position. The above graph of IMAX shows the return on assets of four years . By looking toward the graph we can see that from 2004 to 2005 years shows the positive and profitable trend. This indicates that in 2004 2005 management is efficiently utilizing their assets to generate profits, and also there is a positive trend over the two years while in next two years i. e from 2006 to 2007 shows the negative and non profitable trend which indicates that in these years IMAX management is not efficiently utilizing their assets to generate profits. Page | 39 Operating Income Margin: Operating Income perating inc me margin 0. 3 0. 2 0. 1 0 -0. 1 Operati ng Income argin 2004 0. 22 2005 argin Operating Income argin 2006 2007 0. 224 0. 077 -0. 031 years Interpretation: It shows the relationship of operating income to net sales. This ratio indicates that how much the firm generates income from its net sales after excluding administrative, selling and other expenses from the gross profit. The higher the figure of operating income margin the better the company ¶s better position and its profitability. The above graph of IMAX shows that the in years 2004 2005 are in better position in relation to operating income margin as compared to the other years in the IMAX Company while in years from 2006 to 2007 IMAX shows the decline means in these years IMAX Company ¶s position is not good and non profitability. So we can say that there are only two years i. from 2004 to 2005 that generate positive incomes from net sales. Further we can see that the in years 2004 2005 shows the continuous improvement over the two years while 2006 2007 shows decline over the two years. Page | 40 Return on Operating Assets return n perating assets Return On Operating Assets 2 1 0 -1 2004 2005 2006 2007 Return On Operating Assets R eturn 1. 076 1. 261 0. 415 -0. 15 On Operati ng Assets years Interpretation: This ratio measures the ability of operating assets to generate sales dollars. The higher the ratio the better will be the position of the company. The above graph of IMAX shows that there are only two years in the company i. e. 2004 to 2005 whose position is better as compared to other years in the company. Because these years shows positive figure over the two years, while next year shows big decline i. e. 2006 and in 2007 the IMAX shos the negative fingure. The IMAX company show an improvement from year 2004 to 2005 but in last two years they show the decline position In year 2004 2005 operating assets are efficiently contributing in the generation of the sales while in the years 2006 2007 are not utilizing efficiently contributing in the generation of the sales Page | 41 DuPont Return on Operating Assets: dupont return on operating assets DuPont Return on Operating Assets 2 1 0 -1 2004 2005 2006 2007 DuPont Return on Operating Assets DuPon 1. 076 1. 261 0. 415 -0. 15 t Return on Operat years Interpretation: It shows the relationship between operating and average operating assets of the firm. It indicates that how efficiently the management of the firm operates its assets to generate income. The higher the figure the better will be the position of the firm. The above graph of IMAX shows that that the management of years 2004 to 2005 has a control over its operating assets in relation to generate income while in next two years the IMAX shows the declining position means have not a control over its operating assets in relation to generate income and these two years shows the declining figure in the year 200 and 2007 indicating that they are not generating income from their operating assets in fact they faces a lose in the year 2007 . Page | 42 Sales to Fixed Assets: Sales To Fixed Assets sales to fixed assets 2. 5 2 1. 5 1 0. 0 2004 2005 2006 2007 Sales To Fixed Assets Sales To 1. 895 2. 081 1. 923 1. 725 Fixed Assets years Interpretation: The ratio measure the firm ¶s ability to make productive use of its property, plant and equipment by generating sales rupees. The above graph of IMAX shows that in the years from 2004 to 2005 have a the positive trend indicating that their fixed assets are contributing more efficiently toward the sale s while in years from 2006 to 2007 the IMAX have a negative trend indicating that their fixed assets are not contributing more efficiently toward the sales. In fact In last year they faces a lose in the year 2007 . Page | 43 Return on Investment: Return On Investment return n investment 0. 2 0. 1 0 -0. 1 -0. 2 2004 2005 2006 2007 Return On Investment Return On 0. 1204 0. 148 Investmen t -0. 041 -0. 118 years Interpretation: It applies to ratio measuring the income earned on the invested capital. These types if measures are widely used to evaluate enterprise performance. Since return on investment is a type of return on capital, this ratio measure the ability of the firm to reward those who provide long term funds and to attract provides of future funds. This ratio evaluates the earning performance of the firm without regard to the investment is financed. The higher the ratio, the better will be the position of the company. The above graph of IMAX shows that in the years from 2004 to 2005 have a better positive and shows positive trend over the two years but in last two years the IMAX shows the negative trend and shows the continues losses. Page | 44 Return on Total Equity: Return On Total Equity return n total equity 0. 5 0 -0. 5 Return On Total Equity Return On Total Equity 2004 2005 2006 2007 0. 327 -0. 3664 0. 2347 0. 3156 years Interpretation: It measures the return to both common and preferred stockholders. The higher the ratio the better will be the position of the company. This ratio is important for shareholder point of view. Higher returns attract more shareholders. The above graph of IMAX Company shows in the years 2004 to 2005 have the decreasing trend over the two years also below the zero line i. e. negative returns. Wh ile in last two years from 2006 to 2007 have a positive trend and shows the better position. Page | 45 Gross Profit Margin: Gross gr ss pr fit margin 0. 6 0. 4 0. 2 0 rofit argin Gross rofit Margin 2004 2005 2006 2007 Gross 0. 485 0. 496 0. 406 0. 355 rofit Margin years Interpretation: The ratio shows the relationship between gross profit and net sales. Higher the figure the better will be the position of the firm. The above graph of IMAX shows that the company generate profits continuously over the two years from the net sales, while in last two years shows decline from 2006 to 2007 and shows the continues losses. Page | 46 INVESTOR ANALYSIS Degree of Financial Leverage: Degree Of i i ll v r ci l Lever ge of fi Degree Of Fi ci l Lever ge 2004 2005 2006 2007 2 . 9 0. 2 r Degree 2. 296 2. Of ci Fi l Lever y r Interpretation: The use of financing with a fixed charge (such as interest) is termed financial leverage. Financial leverage is successfully the firm earns more on the borrowed finds than it pays to use them. It is not successful if the firm earns less on the borrowed funds than it pays to use them. If the earning before interest increases, the financial leverage will be favorable. If earning before interest deceased the financial leverage will be unfavorable. The above graph of IMAX shows that the years from 2004 to 2005 the negative trend over the two years earning before interest decreased the financial leverage are unfavorable while in 2006 the IMAX company goes to the below the zero line shows negative figure but then in the year 2007 shows the positive trend here the earning before interest increases, the financial leverage is the favorable and the degree of financial leverage becomes favorable from 2006 to 2007. Page | 47 Earning Per Common Share: arning per c mm n share Earning er Common Share 0. 2 0. 1 0 -0. 1 -0. 2 -0. 3 2004 2005 2006 2007 Earning er Common Share Earning 0. 086 0. 118 -0. 138 -0. 22 er Commo n Share years Interpretation: It is the amount of income earned on a share of common stock during period, applies only to common stock. The higher the ratio, the higher will be position of the firm. The above graph of IMAX company shows that only in the years from 2004 to 2005 shows a continuous positive trend in the earnings per common share and also show improvement in their earning . While in next two years the company going to down and down and not shows a good position. Page | 48 Book Value per Share: Book Value per Share k value per share 0 -0. 2 -0. 4 -0. 6 -0. 8 2004 2005 2006 2007 Book Value per Share b Book -0. 364 -0. 167 -0. 477 -0. 697 Value per Share years Interpretation: It indicates the amount of stockholder ¶s equity that relates to each share of outstanding common stock. The above figure of IMAX Company shows a book value per share below the zero line over the four years. Page | 49 Operating Cash flow Per Share: perating cash fl w per year Operating Cash flow er Share 0. 15 0. 1 0. 05 0 -0. 05 -0. 1 2004 2005 2006 2007 Operating Cash flow er Share Operatin 0. 096 0. 015 -0. 049 -0. 051 g Cash flow er Share years Interpretation: Operating cash flow per share indicates the funds flow per common share outstanding, it is usually substantially than the earning per share because depreciation has not been deducted. It is the indication of a firm ¶s ability to make capital expenditures decisions and pay dividends than is earning per share. This ratio does not viewed as substitute for earning per share in terms of its profitability. The higher the ratio, the better will be the position of the firm. The above graph of IMAX shows the negative trend continuous over the four years also shows below the zero line in last two years which is in a continuous non profitability position. Page | 50