Ethical Lens Essay

Ethical Lens Inventory Results for DESIREE Your preferred lens is: Rights and Responsibility Lens You use your reasoning skills (rationality) to determine your duties as well as the universal rules that each person should follow (autonomy). Your Core Values: Autonomy and Rationality You prioritize the value of autonomy over equality. Your primary concern is protecting individual rights. You believe this is the best way to assure that everyone in the community is treated fairly. You prioritize the value of rationality over sensibility. You believe universal rules exist that apply equally to everyone and that the best results are achieved through consistent application of the universal rules. Your Classical Values: Temperance You value individual balance and restraint in the desire for pleasure as you seek to satisfy your duties. You also know who you are, so you can act with integrity in the exercise of all the virtues. Your Key Phrase: â€Å"I am responsible.† Because you value autonomy and rationality, you tend to assume that your own definitions of what a responsible person should do apply to everyone. Your Definition of ethical behavior: Fulfilling duties You define an ethical person as one who fulfills their duties and does the right thing as an autonomous, fully-responsible adult. For you, this is the fullest expression of fairness and justice. Your Tools for analyzing problems: Reason Using your critical thinking skills is your preferred method for learning and problem-solving. You tend to think through a problem carefully and research options to find the one that will allow you to fulfill your duties. You focus on gathering and analyzing all the available data so you can make a fully informed decision. Your Gift: Self-knowledge Because you are concerned with figuring out your duties, when you are at your best you know yourself – you know both what you are doing and why. Because of this, when you say that you will do something or care for someone, you follow through. You are also able to live in the present, to determine what you need to do at any given moment to fulfill your responsibilities. Your Blind spot: Belief that motive justifies method Because you are so clear about your reasons for acting, you tend to believe that the motive justifies the method. You may unintentionally cause people upset and pain because you are so focused on your good motive. You tend to believe that ethics is a set of universal rules that everyone must follow, just as you do. You follow the rules – everyone should. Your Risk: Being autocratic (bossy) Without self-knowledge, you run the risk of becoming autocratic. You require everyone to do things your way in order to measure up ethically. You tend not to consider other interpretations of the facts or listen to other approaches once you have made up your mind. Your Temptation: Excuses If you are not paying attention, you can be tempted to excuse yourself from following the rules. You insist that you really are being true to your core values, even when you are not. You’ll convince yourself that the rules were meant for other people or that the action you want to take really does meet your responsibilities – even though your â€Å"Responsible Self† tells you otherwise. Your Vice: Becoming judgmental and legalistic Without self-knowledge, you can become overly rigid in your expectations, leading to legalism as you obsess over minute details. You will also become judgmental and when others do not fulfill (what you believe are) their duties, you will be quick to label them as unethical. Your Crisis: Becoming exhausted Unless you develop the practice of mindfulness and reflection, at some point you will become exhausted. No one can meet all of the obligations that your â€Å"Responsible Self† has on your to-do list. If you have few friends, it could be because you are so judgmental that you drive everyone away. Your Seeing Clearly: Listen to your heart To see more clearly, check to see whether your intuition, your heart, agrees with your head. To find balance, explore the gifts of the other lenses – flexibility and a concern for the whole community. As you consider what your duty is, remember that others may see the situation differently or need different supports to fulfill their duties. Also remember to think about the impact of a decision on the whole community. Sometimes an individual actually benefits by restraining autonomy for the good of the community. As you learn to consider the perspectives of others in your decision making process, you will live out the best of your ideals with compassion and care for others.

Why were British troops sent into Northern Ireland?

Almost 40 years ago British troops were sent into Londonderry because of many conflicts due to the separations and discrimination of the two religions, Catholic and Protestants. British government tried to intervene by sending in their on troops as discrimination got so escaladed that Catholics would not even trust the RUC (who were mainly Protestant.) British troops were sent into Ireland because of many conflicts that originated to Henry VIII which was almost 500 hundred years ago. When Henry VIII wanted to divorce Catherine of Aragon, the pope of Rome forbade it, thus making England alone and more importantly formed â€Å"The church of England.† Ireland was still Catholic and allies with Rome, England saw this as a threat so after 1610 they, seized some of Ireland and â€Å"planted† some Protestants there. England thought that Rome would want to try and evade England through Ireland so this is why they took over part of Ireland. The protestant living in Ireland were called undertakers as they had to under take all rules given by the Church of England, they had to build barns houses and be combat ready when needed. Irish Catholics were furious about the take over of Ireland so they decided to rebel, they burnt houses and barns, crops and food; they also killed thousands of protestants (2000 – 3000). This made England retaliate so they sent a Scottish army of 10,000 men into Ulster and the English army took hold of Cork and Dublin, the rebellion resulted in the whole of Ireland being taken over. When King Charles II died, James II became his successor, the problem with James II being king is that he is catholic. James promoted catholic soldiers to higher ranks and gave more benefits to Catholics, parliament became suspicious and thought he was trying to change England into a catholic state. James's Daughter Mary married William of Orange. Making William the new king. James II went to Ireland and he knew he would get strong support from Catholics. With his army behind him, he went to take over Derry, but the apprentice boys closed the gate stopping his army from entering, the protestants suffered from starvation, disease and huge destruction because of this, but when James II was defeated by William of orange, (battle of Boyne) protestants where seen as heroes for fighting for their believes, ironically this is one of the main reasons why British troops had to be sent in again 400 hundred years later. This in many ways led to the rising of Sinn Fein who were a political group fighting for Ireland's freedom, in the sense they were also corrupt and had the support of the IRA (Irish republican army.) The Sinn Fein, one of the leaders Michael Collins, who raised a lot of armies, actually signed the partition. Britain thought the only way to resolve Irelands conflicts would be to try and buy both Ulster and Ireland off, reluctantly accepted by both sides Ireland was once and for all separated (1920),). Possible short term effects of the British troops sent in would be the discrimination against Catholics, due to the bad blood because of plantation and the reformation and the battle of Derry. The first of many short term causes was the blatant vote rigging or Gerrymandering, which caused many Catholics to have bad or even no house at all even if there were 12 in a family, but the Protestants would get them due to the discrimination. Jobs and promotion given to a catholic was very rare, a shipyard in Wolfe had over 10,000 employees but only 400 were catholic. Possible reasons which led up to the civil war could, which ultimately led to the sending in off the British troops, are the lack of housing provided by the local council, due to the gerrymandering the council was run by protestants causing Catholics to lose houses. Prejudice rose even further when RUC or B – specialists (off duty police who were armed) treated Catholics like scum. The RUC were renown to be mainly protestants, they harassed Catholics and destroyed their property, they even let off crimes as long as it was a protestant stealing from a catholic. All these events led to the Civil rights movement, Civil rights activists tried to march to Londonderry but were stopped at Burntollet bridge, where civil rights activists were met by angry protestants. The protestants thought the civil rights were all IRA, and thought they would take matters into their own hand and brutal rioting broke out. The b specialist actually helped the rioters and the RUC did little to nothing to help the matter. Soon after the events that occurred at Burntollet bridge and the appalling display by the RUC led to the Battle of Bogside. This battle was on the day of the apprentice boys march, (mentioned above) the protestants would march and â€Å"celebrate† the honorable apprentice boys. They would sing offensive songs such as â€Å"Drive the Billy-boys back† and throw missiles at the Catholics such as rocks and coins. On august 1969 the march began, even thought many people thought it would inevitable end up in a full scale riot. The Catholics tried to barricade themselves in but the Protestants ran at the barrier full force to get at them, the RUC were actually trying to get the barrier down (supposedly trying to break up the riot but couldn't get to them). This appalling riot caused the sending of the troops in, Catholics thought it was a godsend as they heated the RUC so much.

The Great American Literature

Both, Samuel Clemens, widely known as Mark Twain, and F. Scott Fitzgerald, the premier writer of the twentieth century's Roaring Twenties, focus their writing on American society. They both masterfully handle their novel The Adventures of Huckleberry Finn and The Great Gatsby, exploring the major societal issues, such as the stratification of classes, concept of American identity to contemporary ethics. The Adventures of Huckleberry Finn is frequently referred to as a social commentary–Clemens's sardonic view of society guised as an innocent adventure novel.Through careful observation Twain gained insight into the heart of humanity and then regurgitated this knowledge into a wry attack on the immorality he saw in society. That society was intrinsically wrong, Twain had little doubt. Atrocities were committed every day, and not just by the ‘white trash' of the South. The well-to-do Grangerfords and Shepherdsons, the ‘respectable' Sherburn, and the powerful middle cl ass all have sullied pasts. Huckleberry Finn also focuses on the indifferent attitude the citizens have toward their crooked deeds, not just the deeds themselves.â€Å"You didn't want to come. The average man don't like trouble and danger. You don't like trouble and danger. But if only half a man†¦ shouts ‘Lynch him, lynch him! ‘ you're afraid to back down–afraid you'll be found out to be what you are–cowards–and so you raise a yell†¦ and come raging up here. † (Clemens 118) This speech can be applied to more than that particular instance; however, Clemens uses it to expose the protection society provides through sheer numbers. When everyone else is doing it, even if everyone else is wrong, the easier route is to follow along.The majority rules, and the actions of the many set the precedent, amending ethics and demanding conformity. The deliberate callousness of the hard-hearted invades the novel through other characters as well, nam ely the Duke and the Dauphin. Ironically, the American families described see nothing wrong in the killings (even ‘amen-ing' a sermon on brotherly love), indicative of the moral break-down in society. As Clemens conjectures in the Adventures of Huckleberry Finn, unscrupulous scruples have become normalized by a culture swiftly headed down the river.Fitzgerald's characters display similar corruptness in The Great Gatsby. Each character symbolizes a different cultural category, from the lower orders to the nouveau riche to the old-moneyed class. Fitzgerald exposes the faults inherent in each group, and forces readers to become aware of their own imperfections. Just as the characters in Huck Finn drift through Huck's life as he drifts along the river, so the characters in The Great Gatsby drift aimlessly through life, their restless hearts never satisfied or content.Due to the characters apparent disconnectedness from American society, they feel no remorse for immoral actions. In a culture so ethically depraved, right and wrong drown in a sea of relativity (Clarke, 2004, p. 135). The upper class's bored indifference towards life is exemplified in Daisy's comment, â€Å"You see I think everything's terrible anyhow†¦ And I know. I've been everywhere and seen everything and done everything† (Fitzgerald 22). Fitzgerald takes the Buchanans and applies them to the whole Upper Class, the stratified social club that writes society's rules and then duplicitously violates them behind closed doors.The Great Gatsby alludes to the fact that money corrupts, questioning â€Å"whether dramatic inequalities in wealth [constitutes] a moral issue† (McAdams, 2005, p. 116). The Buchanan's treacherous affairs and subsequent lack of repentance parallel the Grangerford's and Shepherdson's shameless feud. The characters not only commit atrocious acts but see nothing wrong with their actions. In a society that demands conformity and shrouds iniquitous deeds in pie ty, authors such as Twain and Fitzgerald penetrate America's fabricated lie and wave the banner of morality and individualism.Undoubtedly, both Mark Twain’s The Adventures of Huckleberry Finn and Scott Fitzgerald’s The Great Gatsby could be called the great American novels, both are very symbolic. Nevertheless, I believe that The Great Gatsby is the novel that not only describes but also teaches a lot. In particular, I believe that the American Dream is simply that; a dream and F. Scott Fitzgerald is the best in proving it. Through the tragedy of Gatsby, Fitzgerald shows us what happens when fantasy and reality are brought together. Despite seemingly having everything, Gatsby has nothing.His material wealth cannot compensate for what he lacks emotionally. Like Jay Gatsby, the American Dream will always fail when it is shattered by reality. References Clarke, Richard A. (2004). Against All Enemies: Inside America's War on Terror. Free Press. Fitzgerald, F. Scott. (1993) . The Great Gatsby, Wordsworth Editions Limited, McAdams, Dan P. (2005). The Redemptive Self : Stories Americans Live By. Oxford University Press, USA. Twain, Mark. (2001). Adventures of Huckleberry Finn. University of California Press.

Professional Development Plan Assignment Example | Topics and Well Written Essays - 500 words

Professional Development Plan - Assignment Example This is something I want to continue for the rest of my life; because what benefit my profession is going to be of if it is not being done with its true essence. Of handling patients As much as I value my personal professional progress I respect the aura of my profession equally. I want to it with confidence and successfully. To serve on the managerial level has always been one of my most desired dreams. I believe I can utilize my leadership skills to the most by serving at a managerial position, it will not only be a good move for my personal professional career but I will also be beneficial for my organization. I will achieve this goal by keeping a balance between my studies and work life during my masters. By gaining more work experience along with my MSN I first want to become Manager Nursing at my facility and then eventually achieve my ultimate goal. These are some major goals which I want to achieve in the coming three years of my life confidently. Strong motivation and confidence will lead towards a successful professional development for individuals (Mackay, 2007). These may seem just three goals but my entire professional future depends on the successful achievement of these goals. And in order to achieve these goals I will have to achieve small targets almost every single day, because these small everyday goals are going to make up basis for the fulfillment of these major goals of my life (Ryan, 2012). Hansen, R.S. and Hansen, K. (2008). What Do Employers Really Want? Top Skills and Values Employers Seek from Job-Seekers. [Online]. Available at: http://www.quintcareers.com/job_skills_values.html (Accessed 26 January

Catch it Bin it Kill it Essay Example | Topics and Well Written Essays - 1500 words

Catch it Bin it Kill it - Essay Example The second aspect of NHS, as mentioned earlier, is communicating the problem to the public and making sure that they are aware of the issue in hand properly. Communicating the problem or increasing awareness becomes extremely critical in situations in which the problem at hand is risky, and taking action is urgent. Not dealing with or not communicating such a problem properly can lead to creating a hype among the public, and making the people who are not at risk of the problem worry about the problem, too. This is what has been named as the â€Å"worried well† people. Therefore, an important responsibility that government or any other concerned organization has is to communicate properly (House of Lords Select Committee on Communications, 2008-2009). Let the paper precisely see what does communicate properly mean. Firstly, it deals with deciding upon the target group or the group with the maximum level of risk. Selecting the right target group is critical as the later steps de pend upon it. Next step includes a well researched and a well thought-out script or content to be delivered. For this purpose, the organization needs to conduct a proper research and collect as much information about the problem in hand as possible. This includes deciding upon the research methodology and making sure that the right people conduct the research. The third important thing is to decide upon the communication channels i.e. deciding upon whether to use T.V., newspapers, pamphlets etc. It is important that the communication channels chosen be relevant with the target group selected. A mismatch in the communication channel and target group would lead to a total failure, as the message would not reach where it is supposed to reach. The last and an equally important thing is collecting feedback on the impact or effect of the communication made, and taking corrective measures if necessary. In other words, it includes checking out progress of the campaign periodically. Presence of all the above steps is necessary in order to make the communication effective. This paper specifically details the campaign named â€Å"Catch it, Bin it, Kill it†, which was conducted by NHS/Government in order to bring about public awareness about the sudden outbreak of Swine Flu after the first case was diagnosed earlier in 2009 (Jonathan Van-Tam, 2009, p. 189). Swine Flu was then a new thing; therefore, scientists were put to task of doing research as to what causes it and the ways to combat with this virus. After considerable research was done and some antibiotics were identified that would prove helpful in dealing with this virus; an awareness campaign was launched towards the end of 2009 with the name â€Å"Catch it! Bin it! Kill it!† This campaign had a well-researched content that included information about swine flu, measures taken by government, protective measures, symptoms of swine flu and ways and importance to keep oneself updated with news regarding swine flu (Smith, 2010). This campaign, if seen from a broader perspective, was a success with some loopholes too that can be pointed out. The main strengths of the campaign included its catchy slogan and its simplicity (Stephenson, 2009, p. 126). The slogan was not only simple, but it was functional at the same time. This is

An Overall Analysis of Various Aspects of Islam Research Paper

An Overall Analysis of Various Aspects of Islam - Research Paper Example (Waines 92) This ambiguity of the meaning of Islam ultimately evolves from the concept that one’s submission to the will of God will bring peace in this worldly life. A fundamental Muslim thinks that submission to God and peace are the two sides of the same coin. Conventionally it is often believed that Islam was founded by Muhammad, in the 640 AD, who claimed himself to be the messenger of God. But referring to the Quranic evidences, some scholars claim that the origin of Islam dates back to Adam, the first man as well as the first prophet of Islam. This is how, all of the Abrahamic religions and few others were the ancient versions, of Islam, which have now been annulled by God Himself. (Nasr 45) But other scholars argue that since the ancient versions of Islam such Christianity (the religion of Prophet Zesu, one of the most revered prophets in Islam), Judaism (the religion of Prophet Moses, another revered prophet in Islam) and other religions have been repealed by God beca use the distortions of these religions by men, the true Islam for modern people is the one that Muhammad founded in the Seventh Century. Articles of Faith in Islam Institutional Islam, to a great extent, can be viewed as the summation of some seven beliefs and actions according to these beliefs. A follower of Muhammad or a believer of Islam needs to believes in: a. one God (Allah), b. prophets starting from Adam to Muhammad including Noah, Moses, Jesus, Abraham, etc. c. divine scriptures (Qutub) such as the Torah (the divine message of David or Da’ud), the Zabur (the divine message of Moses or Musa), the Bible of Zesu or Isaac (the Ingile as the Muslim calls it), the Quran (Muhammad), other unnamed minor religious scripts that were descended upon the prophets, d. the angels as the servants of God, e. belief in the â€Å"Day of Judgment† () and f. belief in fate. The summation of these beliefs is known as Islamic Belief, in Arabic ‘Iman’ or ‘Aqidahâ⠂¬â„¢. ‘Iman’ or ‘Aqidah’ essentially means to have beliefs in these six articles. Indeed five of these Articles of Faiths are supported by the textual evidences from the Quran. For an example, the verse 136 of chapter â€Å"An-Nisa† says, â€Å"Whoever disbelieveth in God and His angels and His scriptures and His messengers and the Last Day, he verily wandered far astray.† (4:136) Again the verse 285 of Chapter ‘Baqarah’ tells about the four of the main articles of faith in Islam: â€Å"believers have believed in God and His angels and His scriptures and His messengers† (2:285). Tawhid: Islamic Belief in the Oneness of God Islamic belief in God is both confirmation of one’s belief in one God and denial of many. In this sense, belief in Islamic God is a rigorous monotheism. In Arabic, this monotheism is called Tawhid or the oneness of God. This ‘Tawhid’ is the most fundamental concept of Islam. Indeed th e Islamic belief in the existence of one God is essentially the denial of many gods. According to the Quran, the fact that God is one is self-evident and therefore, the concept of many gods is simply false. God as well as His oneness, in Islam, often sides with transcendentalism. Though the transcendentalism has not directly been affirmed in Islam. The description of God, in a round about way, infers that God is transcendental. The Chapter, â€Å"

Justification for an Internal Control System Essay - 2

Justification for an Internal Control System - Essay Example he organization already has controls in place with the insurance and portfolio approach, the controller has chosen to develop a system to enable determination of intended operations within the organization. The system chosen focuses on the function of inventory management. At present, the company has an insurance policy that covers theft from both employees and outsiders. This system will evaluate the effectiveness of inventory management processes with the objective of facilitating a reduction in insurance premiums to the company. It will, therefore, complement the existing policy on insurance, while at the same time saving the company money. The system recommends that the stores department receives the good that the company purchases. It also recommends that suppliers invoice on delivery and provide delivery notes, lest the stores department declines to accept the goods. Additionally, the stores attendant in conjunction with the company security do the verification that the goods that the delivery invoiced are the ones it delivered. The finance department is to carry out occasional random spot checks to verify the case. The stores department then books the goods into the information system. After this, there is approval of the goods if they are in the general ledger, which is done in the finance department; this ensures segregation of duties and provides a check system for the two departments. Thereafter, the inventory controller at the finance department counter-checks each booking with related invoice to verify compliance with the invoice number, value added tax (VAT) computations, invoice amount, invoice quantity and reasonability of the prices. Then the head of finance on a daily basis should confirm that the inventory is booked on the right cost centre to help in distinguishing between cost of sales and operating expenses. If the booking is correct, the inventory controller gives approval and the general ledger is updated. Breakages With regards to items

Marketing Plan Term Paper Example | Topics and Well Written Essays - 2500 words - 3

Marketing Plan - Term Paper Example This market target is viable because the foods are purchased for consumption in offices, schools and sometimes at homes. This represents a real market audience. The NRO plays a fundamental role in meeting the demands of this market niche and expanding its market base of existing and new products. The NRO through its strong distribution channels intends to expand its market by advertising the Company’s products. The NRO’s employees in marketing and advertising section should embrace online marketing and ads to increase its customer base (Wood, 2003).2.2 Marketing strategy Online marketing should be facilitated by online marketing and advertising channels. Tools such as Google, twitter and other online platforms need to be used in a bid to expand awareness and accessibility of the General Mills products. The ads should include the types of products, prices and locations of retail outlets. Sustaining of the current international sales of $3 billion, the superiority of the company’s brands should be strategically put into both the new and existing market niches (Luther, 2001). Equally, the NRO should break down the current barriers to expansive market. For instance, the issue of retail placement fragmentation, for the case of single-serving pre-prepared meal group should be rectified, defined and facilitated. The placement channel is fundamental in sustaining the product market through flow of product information to the market audience in a consistent manner with the current GIS distribution channels (Luther, 2001).

Tobacco Industry's Issues Essay Example | Topics and Well Written Essays - 3000 words

Tobacco Industry's Issues - Essay Example Not only can you find people facing several health issues but other problems are also associated with tobacco cultivation. For instance, child labor is the only small problem associated with it.      When you will delve more into the details pertaining to the tobacco industry, you will find that the majority of tobacco workers are migrant workers.   Although often gone unnoticed by consumers, those engaged in the growth and preparation of tobacco and tobacco-related products are often exposed to many health hazards.   Because tobacco is a global industry, tobacco workers all over the world are exposed to such risks.Tobacco products: cigarettes, cigars, snuff, and chewing tobacco, are well known to pose a serious environmental health threat both to consumers themselves and, in the case of secondhand smoke, to the people around them.   Today, vigorous tobacco control activity around the world focuses on curbing tobacco use and, thus, its health effects on consumers.   But the tobacco workers who labor to bring the plant to market face another range of environmental health risks.   Also, most of the labor laws don’t really affect these people because most of them l ive in developing countries where they work on their own family farms. However, it is interesting to note that in the United States, the federal government historically has encouraged tobacco agriculture.   The U.S. Department of Agriculture (USDA) tobacco price support program sets an annual national quota restricting the amount of tobacco that can be grown to that estimated to meet annual domestic and export demand.   For those farmers who hold quota allotments, this policy and an accompanying federal loan program keep market prices artificially high.   Quotas can be leased and traded, and in recent years this has resulted in the concentration of quota allotments in fewer hands, creating some large-scale nonfamily farming operations.

Channel Conflict Analysis of Schwinn Essay Example for Free

Channel Conflict Analysis of Schwinn Essay With Schwinn’s recent expansion into many large-scale retail stores (i. e. Wal-Mart, Toys-R-Us, Target, etc. ), they began to shift into a dual channel marketing strategy. Often times, if not handled properly, this type of approach can result in significant problems for some or all of the distribution channel partners. Fortunately for Schwinn however, they were able to make many critical decisions which ensured that each of the partners’ distinct interests was narrowly aligned with their own. This proactive plan not only motivated many of their smaller independent bicycle dealers to continue carrying their products but it also allowed Schwinn to effectively reach a much larger segment of their target market. By closely analyzing this case, we can learn many valuable lessons regarding the overall importance of strong channel management. Product differentiation was one of the primary ways that Schwinn managed to avoid channel conflict. Schwinn segmented the market and delivered to the different segments of the market through different channels. The product line delivered through the mass market channel consisted of completely different bicycles than those found at the independent bicycle dealers. This segmentation reduced the likelihood of conflict between the two channels, since the two product lines were targeted at segments with little to no crossover. Additionally, Schwinn introduced products like the Sting Ray which had nostalgic appeal and stretched beyond the traditional customer base of the independent bicycle dealers. These types of bicycles provided them with a unique product and furthermore a healthy margin to bolster profits. By maintaining distinct product lines for their two channels, Schwinn was able to minimize multi-channel conflict. The key to motivating channel members is to provide value and benefits to each partner in order to align interests and thus achieve the ultimate goal: satisfy the customer’s needs. Schwinn used both push and pull strategies effectively. By offering a relatively higher margin level than other high-end manufacturers catering to independent bicycle dealers, they were able to restore the confidence and interest of their long term retailers in spite of going for a dual channel strategy. Moreover, as mentioned in the article, unlike most companies in the industry, there was no complicated loyalty formula required to get the best prices from Schwinn. In addition, Schwinn did not require specific pre-order sales in order to carry their products. Instead, suppliers were granted flexible purchasing options so they did not have to unnecessarily stock inventories during their off-seasons (i. e. winter months in cold climates). This push strategy not only reduced the administrative cost of the retailers, but also improved the inventory turnover and ultimately the retailers’ bottom line. Conversely, Schwinn was also able to simultaneously create a pull strategy after they utilized the extensive media exposure of products, such as the Sting Ray, to increase the brand recognition among customers thus drawing them to the independent bicycle dealers. In addition to this, the specialty storeowners found significant profits lying in the repairing of these bikes and selling of parts/accessories. This proved to be a great factor for specialty bike owners to remain in business while selling Schwinn. They had a clear edge over other big retailers like Wal-Mart who did not provide any after sales service to its customers. Because they were making money by servicing the bikes sold at the mass market stores, the independent bicycle dealers were more tolerant of losing some sales on the edge of their segment to Wal-Mart, Target, Toys-R-Us, etc. Schwinn has done a good job of heading off any channel conflict by keeping the incentives aligned for its two main distribution channels. By expanding its product line into major retailers, the company has been able to target a new segment of casual bike riders. With Schwinn’s new line of entry-level bikes, big-box stores can satisfy the needs of casual bike riders by offering a large selection of affordable bikes at convenient locations. Meanwhile, Schwinn still provides a number of incentives to local bike shops, which form the company’s other main distribution channel. These shops still profit from service and repair, which large retailers do not offer. Additionally, some of Schwinn’s higher-end models are exclusively available in bike shops. Finally, Schwinn is flexible with its inventory requirements and offers good margins. By offering different incentives to each of its distribution channels, Schwinn has been able to target more customers while also keeping its retailers happy.

Commercialization Of Indian Premier League

Commercialization Of Indian Premier League Cricket is just one of those many sports which was conceived by the English and perfected by the world; the Indian Premier League is just an extension of this phenomenon. The Twenty 20 format was invented in England in 2003 but it really took off when the master strategist that is Lalit Modi took it upon himself to take this format a step higher into crickets first franchise based sports event. In late June 2007 Lalit Modi who was then Vice-President of the Board of Cricket Control for India spoke to Andrew Wildblood of the International Management Group (IMG), a company with a vast experience in the whole area of sports management. IMG and Lalit Modi then sat down to discuss this model and finally came up with the idea that is the IPL in its current format. The idea behind creating city based teams was based on the model present in sports in US and UK. IMG designed the IPL after an intensive study of the primary sporting leagues around the world such as the NHL, NBA, NFL and EPL. They examined the theoretical models and also the result and impact of each of these leagues before arriving at the final blueprint. As in most other areas, there were at least as many learnings from the shortcomings and weaknesses as there were in the strengths and benefits mapped to the individual market contexts. What has finally emerged as the IPL design is one that has been meticulously refined to work for cricket.The league structure has been modeled so as to flourish in the uniquely Indian context, and drive the development of grassroots talent in Indian cricket. The idea had all the ingredients to be a success as it had the best cricket players of the world, fans from around the world and a dollop of glamour due to the presence of Bollywood celebrities, corporates and Indian politicos. The IPL was the first of its kind sports extravaganza of its kind, prior to this India has been fed a steady diet of 50 overs and test cricket. This kind of model which is common in the west but a first of its kind in India provided many new avenues for all the stakeholders. The grand old game of Cricket has undergone several makeovers in its history. Test cricket was followed by 60 over one day matches which later became 50 overs. The all white strip of the 70s gave way to the colored clothing and day-night matches of the Kerry Packer era. The Twenty 20 format which originated in England was devised to bring back the crowds in English County Cricket. The game in England was going through a major crisis and the introduction of T20 was instrumental in bringing a much needed dose of excitement in the game. Once again English were left to marvel as the sport they had created in their own backyard was spun into the Great Indian Tamasha by Lalit Modi and his comrades. Commercialization of IPL: Indian Premier League (IPL) has defined a new set of paradigm to do business in the Indian landscape. This was bound to happen someday, looking at the craze for the cricket in this country. IPL is not a yet another cricket extravaganza but an event where money is spun around with many different angles and huge stakes are involved in it. IPL has corporatized cricket in a unique way. It has added a new dimension of marketing and branding the sport in India. IPL is a business which has big economy of scale. India has seen the success of different businesses and the organizations or entrepreneurs running them and now it is the turn of IPL. Overall IPL itself has become a big brand under the leadership of Top management and it is a matter of interest that how it has been done as compared to the failure of its rival league ICL. The Value Positioning of IPL is Fast and Quick Entertainment Which has its own pros and cons according to the test and 50-50 Over Cricket Fraternity. The Making of the Franchises: The biggest USP of the Indian Premier League is that, here the teams are run and managed by various corporate houses or Bollywood celebrities. The owners of the teams went through a bidding procedure to buy the teams and after that, the cricketers were also put up forauction. The managements of the teams took part in the auction and bid for their desired cricketers, with a view to make their team the strongest one among all others. Cricketers from around the world, including the Indian cricketers were put up for auction. The BCCI actually followed the format of England`s most popular football event, the Barclays English Premier League (EPL) for governing the rules and regulations of the Indian Premier League (IPL). Right from the ownership of the franchises to the games themselves, IPL saw an exciting cocktail of Cricket, Bollywood and Business Barons. The people involved in buying these franchises were the whos who of Bollywood and Indian Business Houses.The winning bidders for the eight franchises were declared on 24 January 2008. The total base price for the auction was US $400 million but the auction went on to fetch US $723.59 million.On March 21, 2010, Pune and Kochi were unveiled as the two new franchises for the fourth edition of the Indian Premier League. The base price this time around was $225 million. While Pune was bought by Sahara Adventure Sports Group for $370 million, the Kochi franchise was bought by Rendezvous Sports World Limited for $333.3 million. The process was to have been completed on March 7 but was postponed by two weeks after many bidders and the BCCI objected to stiff financial clauses. The second franchise auction fetched total $703 million. This auction brought a lot of attention towards the IPL for the alleged involvement of Union Cabinet Minister ShashiTharoor . His involvement in trying to tip the scales in the favor of a particular consortium created much furore in the media Open Auction for Individual Players: Highest bidder becomes the buyer. Each player has a base annual fee which is on a pro-rata basis depending on his availability. Each IPL franchise has a max limit to spend on bidding for players. Television rights and sponsorships: The IPL is predicted to bring the BCCI income of approximately US$1.6 billion, over a period of five to ten years. All of these revenues are directed to a central pool, 40% of which will go to IPL itself, 54% to franchisees and 6% as prize money. The money will be distributed in these proportions until 2017, after which the share of IPL will be 50%, franchisees 45% and prize money 5%. The IPL signed up Kingfisher Airlines as the official umpire partner for the series in a Rs. 106 crore (1.06 billion) deal. This deal sees the Kingfisher Airlines brand on all umpires uniforms and also on the giant screens during third umpire decisions Television rights: On 15 January 2008 it was announced that a consortium consisting of Indias Sony Entertainment Television network and Singapore-based World Sport Group secured the global broadcasting rights of the Indian Premier League. The record deal has duration of ten years at a cost of US $1.026 billion. As part of the deal, the consortium will pay the BCCI US $918 million for the television broadcast rights and US $108 million for the promotion of the tournament. This deal was challenged in the Bombay High Court by IPL, and got the ruling on its side. After losing the battle in court, Sony Entertainment Television signed a new contract with BCCI with Sony Entertainment Television paying a staggering Rs. 8700 crores for 10 years. Sony-WSG then re-sold parts of the broadcasting rights geographically to other companies. Below is a summary of the broadcasting rights around the world. On 4 March 2010 ITV announced it had secured the United Kingdom television rights for the 2010 Indian Premier League. ITV will televise 59 of the 60 IPL matches on its ITV4 free to air channel. Sony charges Rs 4-5 lakh per 10 seconds, (top soaps charge Rs 1.5 lakh per 10 seconds). According to Television Audience Measurement (TAM), the average Television Rating Points (TRP) of the first 14 matches in Season 1 was 4.97; in Season 2 it was 4.52, and in Season 3 its grown to 4.69. If IPL-1 reached 77 million people in the first 14 matches, IPL-2 went to 96 million and IPL-3 is at 108 million. The ratings have also raised team earnings. Winning Bidder Sponsorships: Indias biggest property developer DLF Group paid US$50 million to be the title sponsor of the tournament for 5 years from 2008 to 2013.Other five-year sponsorship agreements include a deal with motorcycle maker Hero Honda worth $22.5-million, one with PepsiCo worth $12.5-million, and a deal with beer and airline conglomerate Kingfisher at $26.5-million. Revenue and Profits: The UK-based brand consultancy, Brand Finance, has valued the IPL at $4.13 billion in 2010. It was valued at U$2.01 billion in 2009 by the same consultancy. There are disputed figures for the profitability of the teams. One analyst said that four teams out of the eight made a profit in 2009.]While the London Times said that all but Kings XI Punjab made a profit. In 2010, the IPL expects to have 80 official merchandising deals. It has signed a deal with Swiss watchmaker Bandelier to make official watches for the IPL. Official IPL applications: DCI Mobile Studios (A division of Dot Com Infoway Limited), in conjunction with Sigma Ventures of Singapore, have jointly acquired the rights to be the exclusive Mobile Application partner and rights holder for the Indian Premier League cricket matches worldwide for the next 8 years (including the 2017 season). Recently, they have released the IPL T20 Mobile applications for iPhone, Nokia Smartphonesand Blackberry devices. Soon it will be made available across all other major Mobile platforms including the Android, Windows Mobile, Palm others. How Does IPL make Money? Auction of broadcasting rights. Title sponsorship and corporate sponsorship. Sale of Tickets (20% allocated to IPL). Auction of Franchisee rights. Official Umpires sponsorships. How is the Income Distributed? Share of the broadcasting money with franchisees. Share of the sponsorship money with franchisees. Share of ticket money with franchisees. Inauguration expenses. Prize Money. Sources of Income for an IPL Franchise (ROI) Share in revenue from the broadcasting rights. Share in the sponsorship money. Share in revenue from the sale of tickets. Revenue from In-stadium Advertising. Sale of Players to other franchise. Revenue from own sponsorship and corporate sponsorship. How is the franchise income distributed? Franchisee fees: 10% of the total franchisee costs every year to IPL. Players cost. Match fees and Inauguration expenses. Rent of Stadium. Marketing and promotional cost. Fees for coaches, physiotherapists and other members. Administrative cost. Franchisees can earn profit in IPL as Team owners get 80% of broadcast revenues, 60% of sponsorship revenues, 100% of team sponsorship revenues, 80% of ticket revenues, 87.5% of all merchandising revenues, and 100% of all hospitality revenues. Brand Finance, which came out with IPL brands latest valuation at $ 4.13 billion, said that the brand alone has risen significantly, providing tremendous economic value to its owner, BCCI. Although the English Premier League is valued much higher at $12 billion, the IPLs valuation has risen above $4 billion in just three years, Brand Finance pointed out. Indian Premier League would generate revenue of $1 billion this season, thanks to huge fan following across the globe, attracting a large number of advertisers. Indian Premier Leagues brand value has more than doubled to $4.13 billion (over Rs 18,000 crores), while Chennai Super Kings has emerged the most valued franchise this year, says a study. Ranked fourth last year, Chennai Super Kings led by MS Dhoni has moved to number one with a valuation of $48.4 million, followed by Shahrukh Khan-owned Kolkata Knight Riders ($46 million) and Shilpa Shettys Rajasthan Royals ($45.2 million). The valuation of teams pale in comparison to the IPL brand itself, which has more than doubled from last years $2.01 billion. The individual franchisees have also seen a fair amount of uplift in value since last year. Vijay Mallya-promoted Royal Challengers Bangalore is ranked fourth this year with a valuation of $41.9 million and is followed by Nita Ambani-owned Mumbai Indians ($40.8 million), Delhi Daredevils ($40.5 million), Kings XI Punjab ($36.1 million) and Hyderabad Deccan Chargers at the bottom with a valuation of $34.4 million. Consider this. Chelsea, one of the wealthiest, most powerful football clubs in Europe the Premiership giants, who were bought by Russian oligarch Roman Abrahmovic for  £140 million (Rs 966 crores) in one of the most high-profile takeovers in international sport in 2003, would appear a mid-table struggler if compared to the  £246.35 million (Rs 1,702 crores) Sahara splashed out to buy the Pune team. While it is almost certain that Rendezvous Sports pumping in money for a Kochi-based T20 franchise sounds the death knell for Keralas traditional favorite, football, at Rs 1,533 crores, the cricketing venture heads both Chelsea and Liverpool, which was taken over by US ice-hockey team owners George Gillett and Tom Hicks for  £219m (Rs 1,511 crores) in February 2007. It should be noted that seven seasons ago, the Russian oligarch was paying the amount he did for an established brand, one that was almost a century old, while the Indians paid these astronomical sums merely to gain entry into what is still a fledgling venture, which recently began only its third season. IPL SWOT Strengths The IPL is set up upon the T20 cricket game which should be completed in 2.5 hours. That means that is fast-paced and exciting, and moreover it can be played on a weekday evening or weekend afternoon. That makes it very appealing as a mass sport, just like American Football, Basketball and Soccer. It is appealing as a spectator sport, as well to TV audiences. The IPL has employed economists to structure its lead so that revenue is maximized. The more unified the sport, the more successful it is. Weaknesses Twenty20 has been so popular that it could replace other forms of cricket i.e. damage the game that generated it. Some fans will also have to pay for travel to the ground. There may be large queues for the most popular games. There may be some distance between where the fan lives and the cricket ground. Stakes are very high! Some teams may not weather short-term failures and may be too quick to get rid of key managers and players if things dont go well quickly. Famously, Royal Challengers Bangalore (RCB) sacked their CEO Charu Sharma for watching his team lose 6 from their first 8 games. Some teams have overpriced their advertising/sponsorship in order to gain some short-term returns (e.g. Royal Challengers), and some sponsors and are moving their investment the more reasonably priced teams. Opportunities Since it has a large potential mass audience, IPL is very attractive as a marketing communications opportunity, especially for advertisers and sponsors. The league functions under a number of franchises. Each franchisee is responsible for marketing its team to gain as large a fan-base as possible. The long-term success of all of the franchises lies in the generation of a solid fan-base. The fan-base will generate large TV revenues. Different fans will pay different amounts to watch their sport. There will be corporate hospitality, season tickets, away tickets, TV pay-per-view and other ways to segment the market for the IPL. There is a huge opportunity for merchandising e.g. sales of shirts, credit cards and other fan memorabilia. Grounds can also sell refreshments and other services during the games. Marketers believe that the teenage segments need to be targeted so that they become the long-term fan-base. Their parents and older cricket fans may prefer the longer, more traditional game. The youth market may also impress on their parents that they want them to buy their clubs merchandise on their behalf as a differentiator or status symbol. Franchise fees will remain fixed for the up until 2017-18, which means that the investment is safe against inflation which is traditionally relatively high in India. Threats The level of competition that the Board of Control for Cricket in India (BCCI) can generate determines long-term viability of the league. If the level of competition drops, then revenue will fall. For example, if the top names in cricket cannot be attracted to India, the appeal of the game will fall. Often getting hold of the big names is a problem Australian domestic cricket runs concurrent with the IPL and if players move from Australia to India to follow the money then their domestic game will be hit. This is known as Free Agency. If the franchisees fan-base does not generate income then they may not have the cash to pay the salaries of the best players. However, if you invest in the best players and they do not win the trophies, then you may not see a return on your investment. It wont be a quick return on investment so owners need to be in it for the long-term. The most highly priced teams may not be those that have the early success. Revenues will come from the most highly supported teams. Marketing Strategy: IPL The DLF Indian premier league is a concept sell. It is clearly observed that IPL is a perfect example of controversy marketing Strategies: Auctioning the franchisees. Auctioning the players participating in the IPL tournament. Advertisements on various TV and radio channels. Cheerleaders were one of the most important things that is talked about, foreign girls attracted huge crowd. Worldwide telecast. Locations: the venue chosen for the cricket matches was a strategic choice of places which are named after franchisees, which helped attract people. Conflicts with some media partners and some other cricket boards again demanded the attention of people. Timing: IPL has shown its strategic application of intellect by choosing the evening time for the matches, which made people watch game comfortably. ICL: the rival ICL had been one of the reasons for the publicity and emergence of IPL. People started comparing the IPL ICL that caused the huge publicity for the IPL Opening ceremony gala, Live Concerts. Franchises taken by film stars like Shahrukh Khan, Pretty Zinta and Juhi Chawla etc are the center for attraction, which made some Bollywood stars come for the game. Use of models and Bollywood stars for anchoring and promotion of teams like Akshay Kumar for Delhi daredevils, Shahrukh khan for Kolkata Knight Riders. The commentators were not less than PROs, use of phrases that pleased sponsors and made them pay more. Example: for every six it was a DLF Maximum, for every special moment it was city moment of success. Advantages and Disadvantages Players: Advantages Disadvantages Earn at least Rs 80 Lakhs ($200000) or more per season on average. Due to the tight schedule of international cricket, Chances of injury lowers the tenure of career. Bonuses and Prize Money from Team owners. Neglecting other forms of cricket A great stage to show case skills and compete with the best in the world. Fast game. Stamina and patience to build an innings and bowl tirelessly to get wickets is lost. The top 4 highest earning international cricketers are Indians, with the captain, Mahendra Singh Dhoni, leading the way with annual earnings estimated at US$10m, Tendulkar at US$8m, Yuvraj and Dravid earning in excess of US$5m. Franchise: Advantages Disadvantages Using the cricket property to promote other businesses. Financial Loss if the IPL fails to take off. Prize money if the team wins. Franchises Pays the team and financial costs i.e. Cost of acquisition. They earn from the share in revenue from IPL. Promotional expenses have to be paid by franchises. They also pay the franchisee fee e.g. RCB has to pay $11.16m p.a. for 10 years. Sponsors: Advantages Disadvantages Spot rate charged from advertisers of IPL. Spot Rate may go down if any IPL season is not a blockbuster. Improves customer base. Too much reputation at stake tied to the fortunes of the franchise teams as a whole. Sponsors get branding and recognition. BCCI: Advantages Disadvantages The BCCI makes good money solely from the sale of TV rights, promotion and franchises. May forget to put efforts to promote other forms of cricket Domestic and Test Cricket. Got a great source of revenue. Viewers: Advantages Disadvantages Unlimited Masti and entertainment. Chances of family fights over Channel viewer ship. A great arsenal to make the case strong against the Saas Bahu fans in the family. Capital costs in terms of additional investment in television sets. A very good reason to increase productivity in office Return home by 8 pm. A to Z of IPL Controversies A for Australia Anyone remember that the Aussies had the biggest problems at the beginning of IPL? There were issues regarding the protection of Baggy Green sponsors and availability of the players with certain tours. Our relations with Cricket Australia were at an all-time low. A is also for Andrew Symonds who got a record price in the first auction raising a lot of eyebrows and people wondered how he would fare in the IPL. Now Symmo is on his way to becoming a desi and no-one will bat an eyelid if any Aussies takes Indian citizenship. B for Betting When cricket is played in India, can rumours of betting be far behind? After the Modi-Tharoor spat, everyone is talking about it again. A recent Forbes report puts the illegal cricket-related betting annually at a whopping Rs 160,000 crores. How much of that is IPL related? The Karnataka Home Minister called the shifting of the semis from Bangalore to Mumbai a result of the powerful betting lobby. Even the I-T raids that are taking place on the premises of BCCI and IPL have a betting angle to them. One hopes that nothing comes out of all this for a Betting Scandal has the potential to be the biggest game-killer of them all. C for Cheerleaders They have been controversial right from the beginning, but they continue to charm the crowds. The all-white cheerleaders have raised many an eyebrows in a past edition of IPL. A row was kicked up over two coloured ones being sent home. No case was filed. Various groups at various times have protested against them while there have been uproars in political assemblies too. Bans have been demanded. But Indian or not, they are here to stay. D for Dada Was Sourav Ganguly a victim of the KKR management? Was John Buchanan a villain in wanting to show him the door? Was Shah Rukh Khan foolish in getting into a conflict with him? Did SRK interfere too much with the strategy of KKR? Did Dada refuse SRKs request to talk to the government for tax favours? Did the troika of Dada-Buchanan-SRK fight all the time? One thing is for sure. Theres never a dull moment when Dada is around. E for ECB The ECB was the other board apart from CA that had a lot of issues with the IPL. Player concerns resulted in Dimitri Mascarenhas being the only signed player in 2008. In order to break free of the IPL, the ECB attempted the Stanford 20/20 with the WICB. That ended in a disaster when Texas billionaire Allen Stanford was charged with fraud. Things are finally okay and English players like Kevin Pietersen and Paul Collinwood have done pretty well in IPL3. F for Fake IPL Player Is there anything the IPL doesnt have? As if Twitter wasnt good enough, you had a blogging controversy to boot. A player claiming to be part of KKR started baring all the details of dressing room talk, strategies gone wrong, all the backbiting and salacious gossip in 2009. Was he real? Was he telling the truth? It didnt matter. He got lakhs of visitors and also came out with a book called The Gamechangers. Fake or real, this is the most famous anonymous dude around. G for Glass of Beer In IPL2, a spectator offered a glass of beer to Shane Warne and the Aussie actually crossed the boundary and drank it! Critics cried foul. Others defended him. It was the strategy break! It was technically outside the cricket field. Its just IPL, good pure entertainment! Out of all of Warnes controversies, the spinner will probably rank it at its lightest. Vijay Mallya must have been sniggering somewhere in the background. H for Harbhajan Some people draw controversies like a magnet. Call it the Passion of Harbhajan Singh, but you just cant keep him quiet on the cricket field (or off it, for that matter). The ICC had rules on what to do if a player slapped a player on the field. That dead clause came to life when Harbhajan slapped mercurial S Sreesanth at the end of a match. A sobbing Sreesanth was all over the TV screens and some even said he got what was coming to him! But still it was a grave act for technically Harbhajan could have been handed a life ban. Ouch! I for Icons They were announced with great fanfare and the IPL and the franchisees clung on to them in the hope of drawing popularity and brand recall. But as the IPL progressed they were slowly dispensed with. Rahul Dravid was given the boot from the captaincy and VVS Laxman from the team. Yuvraj Singh hurtled from one disaster to another and was also stripped of his captaincy. Virender Sehwag gave up his mantle on his own. Sachin Tendulkar looked the tired man in the first two seasons and only came on his own in IPL3 when the whole concept of Icons was shelved. J for Joint Ventures While some teams were owned outright by single company, most of them were owned by a group of people. Who owned what percentage and paid how much money? While all this was swept under the carpet in the first two seasons, it suddenly became a hot topic in IPL3 when Modi put up the holding details of the Kochi franchisee. In the beginning was a Modi Tweet Kochi shareholders are: Rendezvous 25% free, Rendezvous 1%,Anchor 27%, Parinee 26%, Film waves combine 12%,Anand Shyam 8%,Vivek venugopal 1% K for Kochi and that directly brings us to the Mother of All Controversies. It encompassed Shashi Tharoor, Lalit Modi, Twitter, North-South Politics, Lok Sabha, I-T Raids, NCP Phew! Who would have thought that something from Kerala would have brought down the whole IPL pack of cards in one huge sweeping stroke! Sunanda Pushkar washed her hands off Kochi and Shashi Tharoor finally had to bid goodbye to his ministry before his first anniversary. And the can of worms has just been opened. They keep coming out one after another. L for Lalit Modi Mr. Lalit Modi. Some time back you could have easily have said IPL = Modi and Modi = IPL. This man is no stranger to trouble. In fact, now controversy has become his middle name. Charged in a US court, in trouble with the authorities with the way he ran the RCA, Modi has been hurtling from one disaster to another in the IPL. And getting away with all of them to boot! He famously declared in a TV channel that he swatted controversies like flies. But such is life where even the greatest of grandmasters can be checkmated! M for Media In season one, the IPL tried to impose all sorts of media restrictions related to images and were faced with a boycott. The IPL backed off and the Indian Newspaper Society played ball. In season three, it was the turn of the broadcasters. A controversy erupted over the amount of footage TV channels could use and another boycott loomed and that too was sorted out at the eleventh hour. N for Ness Wadia While all the KXIP action has been around Preity Zinta and Yuvraj Singh and all that hugging, Mr Wadia is also an owner and has been part of the behind the scenes action. He came in th

Personal Skills Audit And Preferred Learning Style Education Essay

Personal Skills Audit And Preferred Learning Style Education Essay The further management development starts from the responsibilities of manager towards achieving his task. In this fast changing and competitive environment managers need modifications in order to make new ways and strategies to cope up with the diversity occur in the organization. Responsibilities for achieving the task include the clear vision for the group that perfectly defines the direction and segregate work to keep in view the workers skills and flexibility. Determine which resources, processes, and systems are used. Develop the strategy to achieve the task, tactics, time, measurements and by understanding and delegation. Setting the benchmark is to restrict your subordinates to achieve the level that is up to the mark and gain maximum results. Entertain properly the control and maintaining activities and monitor overall performance against plan. Responsibilities as a manager for a group includes the standards and ethics to be performed in the workplace, define a proper organizational culture so your subordinates will be feeling comfortable in the environment and able to work efficiently and easily cope up with the situations. Manager should develop a team slogan to encourage his team towards the task and make them believe that they will be given their best to the task and will achieve the target. Threats which violated the organizations morale, try to turn these threats in to opportunities thats what many good managers with excellent communication skills does. The most important action plan which helps managers to manage the department includes the understanding of individual, their personalities, skills, strengths, weaknesses, needs, and capabilities and assists them in such a way that you can support individuals-plans, conflicts, and challenges they face by them. Classify every individuals objectives, and give appraisals in order to encourage them towards their tasks. Arrange career development programs to train them further because employees may need some new talent and in order to give them information about new technologies. The good leaders always have command over these main areas. First a leader believes to do the entire task no matter whatever the circumstances are, he keeps the right balance according to the situation, gets results, and strengthen the morale, quality, and develops strategies to attain maximum satisfaction. The most important function in leadership development includes planning keeping in view the appropriate information and elaborates the tasks in order to meet the standards. Commence the action and allocate the tasks with setting its standards. A good leader is proactive that supports individual and encourage team spirit and informing the tasks, plans, and schedule properly and give his feedback. Develop feasibility of plan to enable the assessment of the planned task. These all actions help leader in leading, and also includes strong emphasis by applying these techniques through training. Explain the impact of learning styles on personal development. Everyone has different learning style that is unique to the person and the way which seems interesting to him. Analyze your personal learning style by which you can give your best to the task and improve your personal life, which improves the time management also manage studies and, find new strategies to learn more. SELF-AWARENESS AND MOTIVATION Start realizing your thoughts, and be aware of your thoughts and decisions you take in order to make your life peaceful. Think position and develop healing pattern which encourage your thoughts and decision power in the position way. The more you know about yourself the better decision you will be taken. Self awareness also helps in spiritual growth when you have clear upstanding of your religion and believe you will start living accordingly. CREATE PROBLEM SOLVING SKILLS In order to progress in your field you must learn how to make solutions of the problems occur, and must be able to describe or investigate the problem. Diagnose the causes of the problem that affects in your personal life, develop strategies and make alternates to resolve the problem, and analyze your weak areas where you are not able to make proper decisions. And at last implement your own strategy and assess the effective and efficiency of the decision. COMMUNICATION SKILLS Convey your message in such a way that people understand them clearly and having perfect idea what are you conveying. If your conveying method is not effective you will receive ambiguous feedback that other person perceived wrong. Find new ways to learn more about communication style that you can deal effective with people around you and build a trust through your good communication and make a good relationship. PAIRED AND GROUP STYLE OF LEARING The paired and group learning style is the most effective way to learn because a person will find a new ways from other people and learn from their experience to improve their personal life. Group learning style provides you the regularity and you will get better results. The paired and group style of learning also helps you in building your confidence and overwhelm shy factor. The group discussion will not only increase your knowledge but also helps in you progressing in personal growth. The advantages of group learning are numerous which provides an opportunity to compare results and helps in making accurate interpretation regarding to the personal life and career. Assignment 2 Personal Development Planning Purpose The purpose of this assignment is to provide a framework within which the learner can: Prepare and implement a personal development plan . Scenario Your tutor has asked you to provide evidence of your own personal and professional development throughout the course of your studies for this learning programme. As professional development is an ongoing process, this assignment will not be completed until the end of the learning programme. Task 1 Produce an ongoing personal development plan and reflective record of management experience which sets out: This provides evidence for 3a Task 2 Compile a portfolio of evidence which demonstrates how you have implemented the actions in Task 1 above over a period of at least six months, and includes records of: training and/or development needs from a recent appraisal or job review action planning, diaries, learning journal feedback from a variety of sources (eg manager, colleagues, customers) This provides evidence for 3a Task 3 Write a report of between 1000-1500 words which evaluates how well the main themes of the learning programme have impacted (or could in the future) on your work role and chosen career path. You should include an analysis of your strengths and weaknesses both at the start and end of the programme, and explain the importance of self review and how this informs future professional development This provides evidence for 3b Your objectives for career and life planning. The actions you plan to take to meet these goals. Your short/medium/long term goals and objectives. The resources and support needed and available to meet objectives target dates for monitoring and review. >>>> Manager Personal Skill and Professional Skill Introduction: Developing effective management skills to deal with specific challenges and problems of each organization is the urgent needs of many businesses and organizations in the global competitive environment, rapid changing of technology and environment. The new tendency of training and development of successful organizations over the world today is developing effective skills in dealing with specific challenge of their own organization to reach their own mission and objectives in the new organization that characterized by networked, flat, flexible, diverse, global organization. Based on the research in the world and in Vietnam, and from the success of previous workshops, the Center for Excellence in Management Development (CEMD) continuously offers the workshop on Effective Management Skills to help people and organization improving their own effectiveness and efficiency. Through this workshop, participants are not only developed specific competencies in the schedule, but also improved learning skills, facilitating skills, and teamwork skills very important skills in the 21th century organizations. Participants: Managers of businesses, organizations, and people who want to develop competencies in creative problem solving, communications, conflict management, negotiation, and improving self-management and individual effectiveness to improve organizations effectiveness and efficiency. Objectives and Contents: 1. Creative Problem Solving Skills: (1) Describing and analyzing a problem, (2) Identifying causes of a problem, (3) Developing creative options and choosing the best course of action, and (4) Implementing and evaluating effective and efficiency of the decision. 2. Communication Skills: (1) Listening skills, (2) Presentation skills, (3) Feedback Skills, (4) Report witting skills. 3. Conflict Management Skills: (1) Identifying sources of conflict functional and dysfunctional conflicts, (2) Understanding personal style of conflict resolution, (3) Choosing the best strategy for dealing with a conflict, and (4) Developing skills in promoting constructive conflicts in organization and teams. 4. Negotiation Skills: (1) Distinguishing distributive and integrative negotiations, position and principled negotiation, (2) Identifying common mistakes in negotiation and ways to avoid them, (3) Developing rational thinking in negotiation, and (4) Developing effective skills in negotiation that benefits all parties involved. 5. Self-Awareness and Improvement: (1) Understanding the concept of self-management, (2) Evaluate the effectiveness of self management, (3) Developing creative and holistic thinking, (4) Understanding the importance of emotions in works as well in self-development, (5) Understand of self-motivation, and (6) Effectively managing self-learning and change. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Personal Learning Style PERSONAL LEARNING STYLE Who would have ever thought taking a college course would require one to learn how to learn?    It is a good concept we normally undergo at a very young age.    At the pre-school age one will find children learning their strength and weakness through their playtime.    As adults we almost forget we have to learn how to learn to continue growth in our workplace, school, and in life.    In our second week of online classes I learned strengths and weakness in my learning style with the aid of learning assessments, personality spectrums, and time management logs.    In this paper, I intend to describe the various components of my learning style and outline a plan to improve my time management and study skills. A big component of my learning style is hands-on experience; learning while doing.    This usually involved someone with more experience instructing me as I performed the task.    Through the hands-on approach, I picked-up the knowledge and gained proficiency >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Assignment Task 1 1 Introduction This task is about analyzing personal development plan and make strategy for development of PDP. Personal development plan (PDP) shows an evaluation of current skills and knowledge that includes individual strengths and weaknesses. As per scenario, Finance 4 U is finance and accounting based company. Managing director has lot of plans in ensuring that companys staffs fully participates in improving personal and professional skills as the company has problem with staff morale and motivation. Personal development plans needs to be discussed in this task. As Finance 4 U urgently needed a personal development plan in terms of professional and career development and assists the company in progression. 2 Objectives The objectives of this task are to identify strategy for developing a personal development plan, its importance and how plan can improve daily professional life? Characteristics of plan must also be explained such as à ¢Ã… ¾Ã‚ ¢ Objectives and goals (both short term and long term)       à ¢Ã… ¾Ã‚ ¢ Dates and time scale       à ¢Ã… ¾Ã‚ ¢ Resources       à ¢Ã… ¾Ã‚ ¢ Milestones and checkpoints (where performance should be reviewed) 3 Personal Development Plan its Importance Personal Development Planning is a structured and supported process undertaken by an individual to reflect upon their own learning, performance and/or achievement and to plan for their personal, educational and career development. The primary objective for PDP is to improve the capacity of individuals to understand what and how they are learning, and to review, plan and take responsibility for their own learning. http://www.qualityresearchinternational.com/glossary/pdp.htm Personal development is a field of practice and research. As a field of practice PDP includes personal development methods, assessment systems, learning programs, tools and techniques. As a field of research, personal development topics increasingly appear in higher education reviews, scientific journals, >>>> Skill Audit SKILLS AUDIT GRID We would encourage you to review this regularly and particularly before tutorials |Generic Engineering Skills:                      |Good    |Average|Poor    |Academic Study                                  |Work Experience                                  |Extra-Curricular Activity                   |Action Planning                                  | |Analysis                                                 |          |          |          |                                                       |                                                       |                                                       |                                                       | |Modelling                                                 |          |          |          |                                                       |                                                       |                                                       |                                                       | |IT                                                          |          |          |          |                                                       |                                                       |                                                       |                                                       | |Problem solving       |Project implementation                            |          |          |                                                       |                                                    |Appropriate use of laboratory and             |          |                                                       |workshop equipment                                  |                                                       |                                                       |                                     |Design                                                 >>>>>> ADVANCED PROFESSIONAL DEVELOPMENT ABSTRACT          Well as I begin I would like to remember you one point that no one can withstand in the market of an organization when the people lack certain skills and knowledge. In order to ensure for proper skills and knowledge a proper idea about the development of their skills are briefed in this report. Keeping in mind, the four skills developed in this report were time management, stress management, running meeting, and group discussion. Not only the skills but also the learning styles were discussed. What are the techniques and objectives to meet the desired characteristics? How to improve the management skills for the effective leadership? The main concept of learning is mentioned clearly in this report which may be useful in the future requirements for an organization to be effective and imaginative. CONTENTS       à ¢Ã¢â€š ¬Ã‚ ¢ ABSTRACT       à ¢Ã¢â€š ¬Ã‚ ¢ OUTCOME 1 TASK 1: METHODS TO IMPROVE PERSONAL AND PROFESSIONAL SKILLS    1. (a) EVALUATION OF PERSONAL AND PROFESSIONAL SKILLS TASK 2:    1. (b) IMPROVIZATION OF SUCCESSFUL MANAGER SKILLS       à ¢Ã¢â€š ¬Ã‚ ¢ OUTCOME 2 TASK 3: PERSONAL SKILLS AUDITS 1.2 (a) PREFERRED LEARNING STYLE FOCUSSING ON THE SKILLS REQUIRED FOR EFFECTIVE MANAGEMENT AND LEADERSHIP       à ¢Ã¢â€š ¬Ã‚ ¢ OUTCOME 3 TASK 4: PERSONAL DEVELOPMENT PLAN 1.3 (a) DETAILED PERSONAL DEVELOPMENT PLAN TASK 5: 1.3 (b) MONITORING FEEDBACKS AND ADJUSTMENTS TASK 6: 1.3 (c) IMPACTS OF LEARNING AND UTILIZING IN THE FUTURE       à ¢Ã¢â€š ¬Ã‚ ¢ CONCLUSION       à ¢Ã¢â€š ¬Ã‚ ¢ BIBLIOGRAPHY OUTCOME 1 TASK 1: METHODS TO IMPROVE PERSONAL AND PROFESSIONAL SKILLS       à ¢Ã¢â€š ¬Ã‚ ¢ Communication, communication, communicationà ¢Ã¢â€š ¬Ã‚ ¦!!! This is an important method to improve both personal and professional skills. This is the first factor required to develop in any organization.       à ¢Ã¢â€š ¬Ã‚ ¢ Developing the necessary business ethics and corporate social responsibility. This development of the workshop helps in understanding the ethical behavior and participants >>>>>>>>>>>>>>>>>>>>> Personal Learning Styles Personal Learning Style Byron Taylor University of Phoenix Gen/101 Skills for Lifelong Learning Group ID #ONO61CS04 Daigre Victorine, Phd May 11, 2006 In the course of writing this paper I have learned a great deal about the styles of learning and how to incorporate personality traits into effectual learning principles. This paper will consist of an analogy of the components of my learning style to the facets of my personality. This will aid in strategically creating a plan to use in improving my time management and study skills. Components of learning style       I believe that my personal learning style, as do most people, encompasses many traits that extend far beyond categories and agree that these are tools to assist an individual in understanding capabilities, rather than give a definition of what type of person learns under different situations.    For instance, according to my scores in The Pathways to Learning Assessment, I am highly developed in Musical and Interpersonal learning and underdeveloped in the concepts of the Visual-Spatial and Naturalistic learner.    The fact is while I am very musically inclined, I have never created rhythms out of words, beat out rhythms with my hand, written a rap, changed materials to songs I already know, or used music while studying.    On the other hand, I realize that using some components of the Musical-Rhythmic learner I might be able to develop an additional style of studying, by evaluating the effectiveness of those components.       The components of an Interpersonal learner are traits that seem aligned with how I believe I would best learn.    When I was in sigh school, I thrived in the classes which were interactive in nature, as opposed to lecture driven.    I rarely understood the need for slide shows or other visual aids and often felt they had little bearing on the subject even though some of my classmates seemed to believe they helped them immensely. So if a category that fit most of what >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Personal Learning Styles Personal Learning Styles University of Phoenix Everyone learns differently.    This is something that we all discover at a young age.    Some of us absorb information from a Professors lecture very easily, while others will need to go back and read or recite this same information.    Everyone has a learning style that is unique to them, developed over time by their own learning experiences.    By examining our personal learning style, we are able to gain valuable insight on how we learn best, which allows us then to convert study material from its offered format into one that is more palatable for us as individuals.    After a thorough assessment, I have developed a detailed understanding of my own learning style and personality, as well as a strategic plan to improve my time management and study skills. Especially as children, we all have our favorite subjects in school.    Typically, we simply choose subjects we have a natural aptitude for as our favorites we enjoy things better when they come easy to us.    My favorite subjects in school were always math and science related; subjects where everything made logical sense.    I learn best when I can bring logical order to the information presented to me.    Not surprisingly, I also learn best when working on my own, so that I am able to organize my thoughts in a logical manner. After completing the Pathways to Learning1 assessment, I discovered, somewhat unsurprisingly, that I am most strongly developed in the Logical-Mathematical and Intrapersonal intelligences.    I then completed the Personality Spectrum1 and learned that my personality type is that of a Thinker. The results I received from these two assessments complement each other well.    I discovered that while I learn best through problem solving, my best study practices are to study in a quiet place, organize material logically (when possible writing outlines or developing charts and graphs), read text and highlight important points, write or rewrite >>>>>>>>>>>>>>>>>>>>>>>>>>>>>> My Personal Learning Styles Like most people, I can definitely say there have been times in my life when learning was a chore. I can remember looking at the clock on the wall watching the second hand tick away while feverishly tried to grasp the material before me. On the other hand, I can clearly recall times when I was eager to learn. I looked forward to the experience, almost counting the hours until my next opportunity to dive into the scheduled material. As the years have passed from my early days of learning until now, I have realized there is a key word that defines my learning style: scheduled. I am a schedule person. From as far back as I can remember, I have always envied the organized person. The one who had a schedule for everything. The one who knew everything and knew where to go to get what they did not readily possess. I have studied temperament types and learning styles in great detail, primarily trying to find new ways of understanding others and myself. At one point, I took the Strong Interest Inventory Test to try to find out my personal learning style. In an interpretive report following the testing, Allen Hammer and Judith Grutter explained: Your score on the Learning Environment scale suggests that you are interested in applied or practical problems. You may be most interested in short-term training that can teach you practical skills that will help you prepare for a particular job. You probably learn best in settings where you can learn by experience, not through books or lectures (11). The Skills for Professional Development textbook provided four distinct tests to help me define my learning style even further. Test 1: Peak and Valley Learning Times (University of Phoenix 74), confirmed to me that I learn best in the early morning hours. Early morning is definitely a peak learning time for me. I can frequently be found early in the morning with a book and a cup of coffee. I wake up and my brain seems to be already engaged. Saturday mornings afford me the Criteria reference To achieve the criteria the evidence must show that the learner is able to: Task No Page numbers 1 evaluate the personal and professional skills required to meet both organisational and own goals and objectives evaluate more effective ways to learn in the future 2 undertake a personal skills audit, identifying preferred learning style, which focuses on the skills required for effective management and leadership 3 produce a detailed personal development plan evaluate and review the effectiveness and impact of your learning

Morality in the Epic of Beowulf :: Epic of Beowulf Essays

Beowulf’s story is somewhat of an allegory in which he is depicted as the Christ figure. The theme of Beowulf is a contrast of good and evil which is manifest in both Christian and pagan elements; Beowulf represents good, while Grendel, his mother, and the dragon represent evil. The first monster our hero, Beowulf, faces is Grendel. Grendel is said to be a descendant of Cain. â€Å"Unhappy creature (Grendel), he lived for a time in the home of the monsters’ race, after God had condemned them as kin of Cain† (Norton, 28). Cain is the son of Eve, the woman who bore sin into the world. A connection, however vague, can be made between the maternal relations of Eve and Cain and Grendel and his mother. Grendel’s mother can be considered to personify man’s fall from grace and Grendel himself might embody sin. Furthermore, the dragon Beowulf battles can be said to be a picture of Satan: â€Å"the smooth hateful dragon who flies at night wrapped in flameâ⠂¬  (56). When facing Grendel, Beowulf relies on God alone to protect him, saying, "†¦may wise God, Holy Lord, assign glory on whichever hand seems good to Him† (36). When Beowulf tears off Grendel’s arm, Hrothgar remarks, â€Å"I endured much from the foe, many griefs from Grendel† (39). It could be said that the Christian foe is sin, which causes much grief. Against Grendel’s mother, original sin, Beowulf becomes the Christian soldier. When Beowulf struggles against Grendel’s mother, God grants him a precious gift: â€Å"The Wielder of Men granted me that I should see hanging on the wall a fair, ancient, great-sword – most often He has guided the man without friends – that I should wield the weapon† (Norton, 48). This great sword is further described as â€Å"a victory-blessed blade, an old sword made by the giants†¦ the work of giants† (Norton, 47). The sword used to slay Grendel’s mother is work of her ancestral giants, who were godly until they fell from grace. â€Å"From (Cain) sprang all bad breeds, trolls and elves and monsters – likewise the giants who for a long time strove with God† (Norton, 28). Therefore, the sword was god-forged and godly. Here the hero is using â€Å"the sword of the Spirit, which is the word of God† to prevail (The Book of Ephesians 6.17, Bible). In his battle with the dragon (which may represent Satan) Beowulf is martyred, losing his life in the of the killing the dragon.

The Link Between Heart Disease and Cancer :: Exploratory Essays Research Papers

The Link Between Heart Disease and Cancer Recently, on a visit to my mothers' house, I pulled out my parents' wedding album. As I flipped through the pages of the wedding album, it was exciting to see pictures of my parents and our family members. Everyone seemed to be joyous except my grandmothers. They both had sad and angry expressions on their faces as their children made their vows to each other. I, too, was saddened as I noticed my paternal grandmother's figure because one of her breasts was wider, flatter and higher than her other breast. It appears that she had attempted to fill her bra cup with some type of soft cloth. I did not know that she had succumbed to breast cancer and had a radical mastectomy so early in her life. Although my maternal grandmother is still alive today, she has had advanced heart disease most of her life. We called my grandmother "GM" (grandmother). Although GM is a kind and gentle woman, she is quite temperamental. I believe these emotions and worry spike her towering blood pressure. As I continued to go through my parents' wedding album, I noticed that mostly everyone in my family has died of heart disease or cancer. Although my father had diabetes, he died of a massive heart attack. My great uncle died of prostate cancer and his wife died after having a massive heart attack. According to the 1995 Monthly Vital Statistics Report, heart disease and cancer are the leading causes of death in the United States; in fact, heart disease and cancer have been linked to diet and exercise. "I believe that 80 and 90 percent of cancers can be prevented because they are caused by environmental, dietary or nutritional factors," according to Dan Colbert, M.D. and author of Walking in Divine Health. The most common cancers in the United States-- colorectal cancer and breast cancer and prostate cancer--are linked to consumption of red meat, fats, and toxins in diet. In Leviticus 3:17, it is written, "This shall be a perpetual statue through out your generations in all your dwellings: you shall eat neither fat nor blood" (The New King James Bible).

Financial Analysis of Tcs and Tech Mahindra

ACCOUNTS PROJECT Submitted By: Kriti Singh Roll No: 236 Section-D, LBSIM, Delhi 1. ) Calculation of Ratios: (All figures used For calculation are in Rs crores) Liquidity Ratios: 1. Current Ratio Formula: Current Ratio=Current Assets /Current Liability Current Ratio of TCS : For 2012: 23275. 09/10465. 01 = 2. 224 For 2011: 17036. 41/7246. 03 = 2. 3511| | Current Ratio of Tech Mahindra: For 2012: 19809/17007 = 1. 16475 For 2011: 18412/15295 = 1. 20379 2. Quick Ratio Formula: Quick Ratio= Quick Current Assets/Current Liability Quick Ratio of TCS:For 2012: 23257. 32/10465. 01 = 2. 223 For 2011: 17013. 59/7246. 03 = 2. 347 Quick Ratio of Tech Mahindra: For 2012: 19807/17007 = 1. 16463 For 2011: 18406/15295 = 1. 20339 3. Cash ratio: Formula: | Cash Ratio of TCS: For 2012: 6003. 37/10465. 01 =0. 5736 For 2011: 4700. 85/7246. 03 =0. 648 Cash Ratio of Tech Mahindra: For 2012: 1389/17007 = 0. 081 For 2011: 1938/15295 = 0. 126 Leverage Ratios: 1. Debt-Assets Ratio: Formula: Debt to Assets = tot al debt / total assets Debt-Assets Ratio of TCS: For 2012: 116. 26/41394. 49 =0. 0028 For 2011: 69. 27/32681. 04 =0. 0021Debt-Assets Ratio of Tech Mahindra: For 2012: 11266/63454 = 0. 177 For 2011: 11827/60804 =0. 194 2. Debt Equity Ratio: Formula: Debt to Equity Ratio =  (Short Term Debt + Long Term Debt)/Tangible N. W. Debt to Equity Ratio of TCS:For 2012: 116. 26/29840. 13 =0. 003 For 2011: 69. 27/24651. 22 =0. 002 Debt to Equity Ratio of Tech Mahindra: For 2012: 11266/34369 = 0. 327 For 2011: 11827/33810 =0. 349 3. Interest coverage Ratio Formula: Interest Coverage Ratio =  (EBIT) / interest.Interest coverage Ratio of TCS: For 2012: 13945. 54/22. 23 =627. 32 For 2011: 11047. 1/26. 48 =417. 18 Interest coverage Ratio of Tech Mahindra: For 2012: 7494/1025 =7. 3112 For 2011: 9173/1113 =8. 2416 4. Total Debt Ratio: Formula: Total Debt Ratio = Total Debt / Capital Employed Total Debt Ratio of TCS: For 2012: 116. 26/30929. 48 =0. 00375 For 2011: 69. 27/25435. 01 =0. 0027 Tota l Debt Ratio of Tech Mahindra: For 2012: 11266/46447 = 0. 425 For 2011: 11827/45509 =0. 259 Activity Ratios: 1. Inventory turnover Ratio: Formula: Inventory Turnover Ratio = Cost of Goods Sold/Inventory Cost Inventory turnover Ratio of TCS:For 2012: 35398. 69/ 17. 77 =1992. 04 For 2011: 26907. 89/22. 82 =1179. 132 Inventory turnover Ratio of Tech Mahindra:For 2012: 46638/2 =23319 For 2011: 42861/6 =7143. 5 2. Receivable’s turnover Ratios: Formula: Receivable Turnover Ratio = Sales/ Accounts Receivable Receivable’s turnover Ratio of TCS:For 2012: 48893. 83/11520. 35 =4. 244 For 2011: 37324. 1/8194. 97 =4. 554 Receivable’s turnover Ratio of Tech Mahindra:For 2012: 52430/12431 =4. 217 For 2011: 49655/9643 =5. 149 3. Payable turnover Ratios: Formula: Payable Turnover Ratio = Cost/ Average Payables Payable turnover Ratio of TCS:For 2012: 35398. 69/ 3247. 87 =10. 89 For 2011: 26907. 89/2572. 33 =10. 46 Payable turnover Ratio of Tech Mahindra:For 2012: 46638/4684 =9. 9 56 For 2011: 42861/3034 =14. 126 4. Fixed assets turnover Ratios: Formula: Fixed assets turnover Ratios = Sales/ Fixed Assets Fixed assets turnover Ratios of TCS: For 2012: 48893. 83/6564. 97 =7. 4 For 2011: 37324. 51/5440. 98 =6. 85 Fixed assets turnover Ratios of Tech Mahindra: For 2012: 52430/8153 =6. 430 For 2011: 49655/6608 =7. 5143 5. Total assets turnover Ratios: Formula: Total assets turnover Ratios = Sales/ Total Assets Total assets turnover Ratios of TCS: For 2012: 48893. 83/11520. 35 =4. 244 For 2011: 37324. 51/8194. 97 =4. 554 Total assets turnover Ratios of Tech Mahindra: For 2012: 52430/63454 =0. 826 For 2011: 49655/60804 =0. 816 Profitability Ratios: 1. PBIT Ratio Formula: PBIT Ratio = EBIT/Sales PBIT Ratio of TCS: For 2012: 13945. 54/48893. 83 =0. 285 For 2011: 11047. 1/37324. 51 =0. 959 PBIT Ratio of Tech Mahindra: For 2012: 7494/52430 =0. 1429 For 2011: 9173/49655 =0. 1847 2. PBT Ratio: Formula: PBT Ratio = EBT/Sales PBT Ratio of TCS: For 2012: 13923. 31/48893. 83 =0. 284 For 2011: 11020. 62/37324. 51 =0. 2952 PBT Ratio of Tech Mahindra: For 2012: 5790/52430 =0. 1104 For 2011: 8060/49655 =0. 1623 3. PAT Ratio: Formula: PAT Ratio= EAT/Sales PAT Ratio of TCS: For 2012: 10413. 4/48893. 83 =0. 212 For 2011: 9068. 04/37324. 51 =0. 242 PAT Ratio of Tech Mahindra: For 2012: 4606/52430 =0. 0878 For 2011: 6967/49655 =0. 1403 4. ROA Ratio: Formula: ROA Ratio= EBIT/ Total Asset ROA Ratio of TCS: For 2012: 13945. 4/41394. 49 =0. 336 For 2011: 11047. 1/32681. 04 =0. 338 ROA Ratio of Tech Mahindra: For 2012: 7494/63454 =0. 118 For 2011: 9173/60804 =0. 15 5. ROE Ratio: Formula: ROE Ratio= EAT/Stockholder’s Equity ROE Ratio of TCS: For 2012: 10413. 4/29840. 13 =0. 348 For 2011: 9068. 04/24651. 22 =0. 367 ROE Ratio of Tech Mahindra: For 2012: 4606/34369 =0. 134 For 2011: 6967/33810 =0. 206 Analysis of Ratios: Liquidity Ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Current Ratio| 2. 224| 2. 3511| 1. 16475| 1. 20379| Quick Ratio| 2. 2223| 2. 347| 1. 16463| 1. 20339| Cash Ratio| 0. 5736| 0. 648| 0. 081| 0. 126|Ideal current ratio is 2:1. In case of TCS in both years current ratio is almost equal to it. It means company has just the adequate amount of current assets. In case of Tech Mahindra, Current ratio is less than it in both the years. But it is still greater than 1:1. So the company still has sufficient assets to pay its short term obligations. Quick assets means current assets – inventory – prepaid exp. So, it is more conservative measure. Ideal quick ratio is 1:1. It shows that TCS and Tech Mahindra have very less current investments in terms of inventories and prepaid expenses so the ratios are almost equal to the current ratios.Cash ratio is most conservative measure of three as it comprises only cash and marketable securities. TCS keeps more current assets in cash than Tech Mahindra. Leverage Ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Debt – Assets ratio| 0. 0028| 0. 00 21| 0. 177| 0. 194| Debt To Equity Ratio| 0. 003| 0. 002| 0. 327| 0. 349| Interest Coverage Ratio| 627. 32| 417. 18| 7. 3112| 8. 2416| Total Debt Ratio| 0. 00375| 0. 0027| 0. 2425| 0. 259| Analysis of a firm’s capital structure is essential to evaluate its long-term risk and return prospects. Debt – assets ratio implies portion of total debt in capital structure of a company.The more this ratio is the more risky company is because cost of debt is always greater than cost of equity. So, it is preferred to have more amount of equity than debts. For both TCS and Tech Mahindra, debt ratio is good enough though TCS has better debt ratio. Interest coverage ratio measures the protection available to creditors as the extent to which earnings available for interest cover interest expenses. In case of both companies in both years debt holders are secured as enough profit is available with firm but in case of TCS debt holders are very much secured.Payment of interest on debenture s is always preferred to payment of dividends on equity and preference shares. Activity ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Inventory Turnover Ratio| 1992. 04| 1179. 132| 23319| 7143. 5| Receivable’s Turnover Ratio| 4. 244| 4. 554| 4. 217| 5. 149| Payable Turnover Ratio| 10. 89| 10. 46| 9. 956| 14. 126| Fixed Assets turnover Ratio| 7. 44| 6. 85| 6. 430| 7. 5143| Total Assets Turnover ratio| 1. 18| 1. 142| 0. 826| 0. 816| Activity ratios describe the relationship between the firm’s sales/cost of goods sold and the assets needed to sustain operating activities.The higher the ratio, the more efficient the firm’s operations as relatively fewer assets are required to maintain a given level of operation. Inventory turnover ratio measures the efficiency of the firm’s inventory management. A higher ratio means inventory does not remain in warehouses for long time. In both years Tech Mahindra has higher ratio than TCS has. Since both are s oftware companies, need for inventory is very less. Hence the ratios are so high. Receivable turnover ratio measures the efficiencies of the firms credit policies and indicate the level of investment in receivables needed to maintain the firm’s sales level.The higher this ratio, the lesser the period in which debtors pays money. Its almost similar for both the companies for 2011-12. For 2010-11, Tech Mahindra is slightly ahead in comparison to TCS in this parameter . It implies that Tech Mahindra gives credit to its customer for lesser time period than TCS does. In 2010-11 average credit time given by TCS is 365/4. 554=80 days approx. while by Tech Mahindra is 365/5. 149=70 days. Payable turnover ratio implies the time duration after which company makes payments to its creditors. The higher ayable turnover ratio, the earlier company makes payments to its creditors. TCS’s payable turnover ratio is slightly better than that of Tech Mahindra in 2011-12. For 2010-11, Tech Mahindra has better payable ratio than TCS as it makes payment to its creditors earlier. Fixed assets turnover ratio measures the efficiency of long-term investment. This ratio reflects the level of sales generated by investment in production capacity and shows the efficiency level of fixed assets. The higher this ratio means more productive and efficient are fixed assets or long-term investments.From table it is clear that investments of TCS are slightly more productive than of Tech Mahindra for 2011-12 but it was reverse by almost the same amount for 2010-11. Total assets turnover ratio considers total assets instead of only current assets so; it measures overall efficiencies of all assets (current fixed). TCS has a better ratio than Tech Mahindra has. Profitability Ratios: Ratio| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| PBIT Ratio| 2. 224| 2. 3511| 0. 1429| 0. 1847| PBT Ratio| 0. 284| 0. 2952| 0. 1104| 0. 1623| PAT Ratio| 0. 212| 0. 242| 0. 0878| 0. 1403| ROA| 0. 336| 0. 338 | 0. 118| 0. 150| ROE| 0. 48| 0,367| 0. 134| 0. 206| This is the most important ratio because both shareholder’s and stakeholder’s profit/gain depends on profitability of company. These ratios measures profitability in terms of % of sales. Debenture holders are much concerned about PBIT(profit before interest and tax) as they are paid interest out of it, government is more concerned about PBT(profit before tax) as it charge tax on this profit, shareholders are more concerned about PAT(profit after tax) as they are paid dividends on the basis of it. For both the companies there is a little change in these ratios over the previothemyear.Also profitability of TCS is more than Tech Mahindra. ROA measures the management’s ability and efficiency in using the firm’s assets to generate profits and it reports the total return accruing to all providers of capital(debt and equity) while ROE considers amount available for distribution to shareholder’s. Both RO A and ROE are undoubtedly better for TCS than those of Tech Mahindra. TCS is giving superb rate of return on equity to its shareholders as 33-34 % in last two years while that for Tech Mahindra is 15-17%. The relationship between ROA and ROE reflects the firm’s capital structure. 2. Horizontal, Vertical and Trend Analysis Items selected For horizontal, vertical and trend analysis are: Items | TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Shareholder’s Fund| 29579. 23| 24504. 81| 34432| 33840| Inventory| 17. 77| 22. 82| 2| 6| Fixed Assets| 6564. 97| 5440. 98| 8153| 6608| Cash and bank balance| 6003. 47| 4700. 85| 1389| 1938| Creditors| 3247. 87| 2572. 33| 4684| 3034| Debtors| 11520. 35| 8194. 97| 12431| 9643| Total assets/liabilities| 41394. 49| 32681. 04| 63454| 60804| Vertical Analysis: In vertical analysis Auditors calculate portion of one item in total assets/liabilities in terms of percentages.Items | TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Shareholderâ€℠¢s Fund| 71. 45| 74. 98| 54. 26| 55. 65| Inventory| 0. 042| 0. 069| 0. 003| 0. 009| Fixed Assets| 15. 85| 16. 64| 12. 848| 10. 86| Cash and bank balance| 14. 5| 14. 38| 2. 18| 3. 18| Creditors| 7. 846| 7. 871| 7. 381| 4. 9| Debtors| 27. 83| 25. 07| 19. 59| 15. 85| Horizontal Analysis: In horizontal analysis Auditors calculate % change in an item over a base year. Here Auditors are considering 2009-10 as base year and will calculate % change. Items| TCS| Tech Mahindra| | 2012| 2011| 2012| 2011| Shareholder’s Fund| 95. 29| 100| 97. 50| 100|Inventory| 60. 87| 100| 33. 33| 100| Fixed Assets| 95. 25| 100| 118. 30| 100| Cash and bank balance| 100. 83| 100| 68. 55| 100| Creditors| 99. 68| 100| 150. 63| 100| Debtors| 111. 01| 100| 123. 59| 100| Trend Analysis: For TCS: For Tech Mahindra: 3. Suggestions: i. Creditors: Since the debt ratios are less, there is a lot of assets and equity backing for the debts. It’s a safe bet to lend to both of these companies. ii. Banks and Finan cial institutions : Interest Coverage ratio is high. So lending to these companies is a safe thing to do. (More so to TCS which has excellent Interest Coverage Ratio) iii.Investors: Both the companies have high ROE. So it’s a good option to invest in them. Returns of TCS are as high as 34-36% while that of Tech Mahindra are 15-17%. iv. Government: Tax benefits can be tightened a bit. Because with the proportion of sales tax appears to be less. PBT and PAT ratios for both the companies are almost equal. v. Management: Crediting policies should be changed a bit. Because software industry being a intangible industry can’t rely much on low recievables turnover ratio. 4. Accounting Policies TCS Fixed Assets Fixed assets are stated at cost, less accumulated depreciation / amortization.Costs include all expenses incurred to bring the asset to its present location and condition. Fixed assets exclude computers and other assets individually costing ` 50,000 or less which are not capitalized except when they are part of a larger capital investment program. Depreciation / Amortization Depreciation / amortization on fixed assets, other than freehold land and capital work-in-progress is charged so as to write-off the cost of assets, on the following basis: Type of asset Method Rate / Period Leasehold land and buildings Straight line Lease period Freehold buildings Written down value 5%Factory buildings Straight line 10% Leasehold improvements Straight line Lease period Plant and machinery Straight line 33. 33% Computer equipment Straight line 25% Vehicles Written down value 25. 89% Office equipment Written down value 13. 91% Electrical installations Written down value 13. 91% Furniture and fixtures Straight line 100% Intellectual property / distribution rights Straight line 24 –60 months Rights under licensing agreement Straight line License period Fixed assets purchased for specific projects are depreciated over the period of the project. InvestmentsLo ng-term investments are stated at cost, less provision for other than temporary diminution in value. Current investments, except for current maturities of long term investments, comprising investment in mutual funds are stated at the lower of cost and fair value. Inventories Raw materials, sub-assemblies and components are carried at the lower of cost and net realisable value. Cost is determined on a weighted average basis. Purchased goods-in-transit are carried at cost. Work-in-progress is carried at the lower of cost and net realisable value. Stores and spare parts are carried at cost, less provision for obsolescence.Finished goods produced or purchased by the Company are carried at lower of cost and net realisable value. Cost includes direct material and labtheir cost and a proportion of manufacturing overheads. Tech Mahindra Fixed Assets including intangible assets: Fixed assets are stated at cost less accumulated depreciation. Costs comprise of purchase price and attributable c osts, if any. Depreciation / amortization of fixed assets: (i) The Company computes depreciation of all fixed assets including for assets taken on lease using the straight line method based on estimated useful lives.Depreciation is charged on a pro rata basis for assets purchased or sold during the year. Management’s estimate of the useful life of fixed assets is as follows: Buildings 28 years Computers 3 years Plant and machinery 5 years Furniture and fixtures 5 years Vehicles 3-5 Years Office Equipments 5 years (ii) Leasehold land is amortised over the period of lease. (iii) Leasehold improvements are amortised over the period of lease or expected period of occupancy whichever is less. (iv)Intellectual property rights are amortised over a period of seven years. (v) Assets costing upto Rs 5,000 are fully depreciated in the year of purchase. vi)The cost of software purchased for internal use is capitalized and depreciated in full in the month in which it is put to use. Invest ments: Long term investments are carried at cost. Provision is made to recognise a decline other than temporary in the carrying amount of long term investment. Current investments are carried at lower of cost and fair value. Inventories: Components and parts: Components and parts are valued at lower of cost and net realizable value. Cost is determined on First-In-First Out basis. Finished Goods: Valued at the lower of the cost or net realisable value. Cost is determined on First-In-First Out basis. . ) Key Highlights TCS a. ) Auditor’s Report 1. Auditors have audited the attached Consolidated Balance Sheet of TATA CONSULTANCY SERVICES LIMITED (â€Å"the Company†) and its subsidiaries (collectively referred as â€Å"the TCS Group†) as at March 31, 2012,the Consolidated Statement of Profit and Loss and the Consolidated Cash Flow Statement for the year ended on that date, both annexed thereto. These financial statements are the responsibility of the Company’ s management and have been prepared by the management on the basis of separate financial statements and other financial information regarding components.Their responsibility is to express an opinion on these financial statements based on their audit. 2. Auditors conducted their audit in accordance with the auditing standards generally accepted in India. Those Standards require that Auditors plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. Auditors believe that their audit provides a reasonable basis for their opinion. 3. Auditors did not audit the financial statements of certain subsidiaries whose fina ncial statements reflect total assets (net) of ` 4825. 13 crores as at March 31, 2012, total revenues of ` 7601. 89 crores and net cash inflow amounting to ` 514. 17 crores for the year ended on that date.These financial statements and other financial information has been audited by other auditors whose reports have been furnished to us, and their opinion in so far as it relates to the amounts included in respect of these subsidiaries is based solely on the report of other auditors. 4. Auditors report that the consolidated financial statements have been prepared by the Company’s management in accordance with the requirements of the Accounting Standard (AS) 21, Consolidated Financial Statements prescribed by the Central Government under Section 211 (3C) of the Companies Act, 1956 and other recognized accounting practices and policies. 5.Based on their audit and on consideration of the separate audit reports on the individual financial statements of the Company and the aforesai d subsidiaries and other financial information of the components, and to the best of their information and according to the explanations given to us, Auditors are of the opinion that the attached consolidated financial statements give a true and fair view in conformity with the accounting principles generally accepted in India: (i) in the case of the Consolidated Balance Sheet, of the state of affairs of the TCS Group as at March 31, 2012; (ii) in the case of the Consolidated Statement of Prof t and Loss, of the profit of the TCS Group for the year ended on that date; and (iii) in the case of Consolidated Cash Flow Statement, of the cash flows of the TCS Group for the year ended on that date. b. ) Management Discussion The Company’s strategy to support longer term growth is to continually extend the core IT services business by expanding its geographic reach, industry coverage and service capabilities and by deepening existing client elationships, building or acquiring emergi ng businesses and adopting or creating new business models and business solutions. Risks The Company has put in place an Enterprise-wide Risk Management (ERM) programme based on the Committee of Sponsoring Organisations of the Treadway Commission (COSO) framework. Reports are placed before the Board of Directors at regular intervals. The risk management process is continuously improved and adapted to the changing global risk scenario. The agility of the risk management process is monitored and reviewed for appropriateness with the changing risk landscape. The process of continuous evaluation of risks includes taking stock of the risk landscape on an event driven as well as quarterly basis.The risk categories covered under the ERM programme includes strategic, operational and financial as well as compliance-related risks across various levels of the organisation. This includes risk assessment and mitigation at the company level, business / functional unit level, relationship level an d project level. c. ) Corporate Governance Effective corporate governance practices constitute the strong foundations on which successful commercial enterprises are built to last. These practices are categorised through principle based standards and not just through a framework enforced by regulation. It develops through adoption of ethical practices in all of its dealings with a wide group of stakeholders encompassing regulators, employees, shareholders, customers and vendors.Strong leadership and effective corporate governance practices have been the Company’s hallmark and it has inherited these from the Tata culture. The Company will continue to focus its resources, strengths and strategies to achieve its vision of becoming a truly global leader in software services, while upholding the core values of excellence, integrity, responsibility, unity and understanding, which are fundamental to the Tata companies. By combining ethical values with business acumen, globalisation w ith national interests and core business with emerging business, the Company aims to be amongst the largest and most respected global organisations. The Company elieves in adopting the ‘best practices’ that are followed in the area of corporate governance across various geographies. The Company has a strong legacy of fair, transparent and ethical governance practices. The Company has adopted a Code of Conduct for its employees including the Managing Director and the Executive Directors. In addition, the Company has adopted a Code of Conduct for its Non-Executive Directors. Both these codes are available on the Company’s website. The Company’s corporate governance philosophy has been further strengthened through the Tata Business Excellence Model, the Tata Code of Conduct for Prevention of Insider Trading, as also the Code of Corporate Disclosure Practices.The Company has in place an Information Security Policy that ensures proper utilisation of IT resource s. The Company is in compliance with the requirements stipulated under Clause 49 of the Listing Agreements entered into with the Stock Exchanges with regard to corporate governance. Tech Mahindra a. ) Auditors’ Report The audit was conducted in accordance with the auditing standards generally accepted in India. Those Standards require that auditors plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and the disclosures in the financial statements.An audit also includes assessing the accounting principles used and the significant estimates made by the Management, as well as evaluating the overall financial statement presentation. Auditors believe that their audit provides a reasonable basis for their opinion. (a) Auditors have obtained all the information and explanations which to the best of their knowledge and belief w ere necessary for the purposes of their audit; (b) In their opinion, proper books of account as required by law have been kept by the Company so far as it appears from their examination of those books; (c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the ooks of account; (d) In their opinion, the Balance Sheet, the Statement of Prof t and Loss and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956; (e) In their opinion and to the best of their information and according to the explanations given to them, the said accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012; (ii) In the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date and (iii) In the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. b. ) Management Discussion Opportunities Growth in Emerging MarketsCompared to the subdued growth expected in developed markets, emerging markets will continue to drive relatively higher growth due to new spectrum licensing, migration to direct to home platforms, broadband penetration, focus on value added services and conducive regulatory environment. This will create opportunities for the software service providers who can assist operators in achieving their business objectives in these areas. Moreover, as the developing world focuses on shift of Mobility, it may bring in huge investments in this area which could create opportunities for companies like Tech Mahindra. Legacy to Next Generation IT transformationTelecom is a dynamic and evolving indus try with high focus on consumers’ changing demands. Service providers around the globe, on the back of dropping legacy revenues and high costs, are looking to transform their clients’ legacy platforms into next generation platforms. This will enable clients to optimize their product portfolio, and rationalize the costs associated with running the systems. These transformation initiatives will lead to outsourcing opportunities. Tech Mahindra has been at the forefront of helping its clients transform their businesses in line with the changing global telecom environment. Increased scope of outsourced activitiesAccess to talent and cost optimization is the key driver for outsourcing. Telecom service providers are adopting several outsourcing strategies to benefit from off shoring. One of the trends is services which traditionally were done in house are now being included in the scope of global sourcing. In the network domain, network outstheircing provides an opportunity f or wide range of services like field services, maintenance & support, E2E implementations and network infrastructure management. Managed services deals to cover network legacy systems have been tried in the mature markets and a similar trend will continue for the coming years. Adoption of Next Generation TechnologiesThe telecom industry continues to adapt and evolve with new technologies and new ways to communicate. Successive waves of new technology in wire-line, wireless and IP domains have been sweeping the industry landscape. The Telecom industry is also altering to cope up with the changing needs and behavitheir of consumers and increased competition. Customers believe in convenience, choice of services, responsiveness and cost as important parameters to choose their service provider. Success in current business environment is characterized by the ability to adapt to the higher user expectations on the one hand and a rapidly changing technology environment on the other.As mobil e broadband penetration expands, quick monetization has become a strategy of paramount importance for telecom service providers. Service providers are now focusing on providing solutions to enterprises by enabling their applications to be accessed via mobile platforms such as smart phones and tablets. With the growth in social network media across the world, coupled with higher broadband penetration, users have been voicing their views about quality of services. Analysis of user sentiments on such social networks, within limits of privacy laws, is another area where there has been a growth in demand. Threats Reduction in Telecom Spending The global economy is going through turbulent times and most companies are reacting to the increased volatility.Though cash-rich, telecom companies have turned cautious due to the challenging macroeconomic environment. The decisions cycles on new discretionary spend are prolonged. The service providers continue to focus on reducing costs by adopting measures such as optimizing IT Spend and postponing investments. Such cost-saving measures could have an adverse impact on outsourcing. Global IT companies posing challenge with growing India presence Global IT service providers such as Accenture, HP, CapGemini and IBM are expanding their presence in India and pose a challenge to Indian IT service companies with their global client relationships, deep pockets and domain knowledge. Risks High customer concentrationIn FY 2012, revenues from the leading client, top 5 and top 10 clients account for 37%, 68% and 78% respectively. Though customer concentration has been declining over the years, loss of any of these clients could have a material adverse impact on their revenue and profitability. After Mahindra Satyam’s merger with the Company customer concentration will reduce significantly. Withdrawal of tax benefits In the past Auditors benefited from certain income tax incentives under Section 10A of the Income Tax Act (for the IT services that Auditors provide from specially designated â€Å"Software Technology Parks† or STPs) and also from Section 10AA of the Income Tax Act (for the IT services Auditors render from units set up in SEZs).As a result of these incentives, their operations in India have been subject to relatively low tax liabilities. The income tax benefits available to STP units have been discontinued from 1st April 2011. As this withdrawal was foreseen, the Company decided to set up facilities in SEZ units at various locations as the units set up in SEZ area would continue to provide them with tax benefits similar to those in STPs. Auditors commenced operations in SEZ units at Hinjewadi Pune, Chennai, Kolkata and Chandigarh. Additional units are coming up at Noida. But despite this, tax incidence will increase over the previous years due to withdrawal of Section 10A benefits.In addition, there is no assurance that the Indian government will not enact laws in the future that would ad versely impact tax incentives further and consequently, their tax liabilities and profits. When their tax incentives expire or are terminated, their tax expense will materially increase, reducing their profitability. Exchange rate risks The exchange rate between the Indian Rupee and the British Pound and the Rupee and the U. S. Dollar has fluctuated widely in the recent past and may continue to fluctuate significantly in the future. The average value of the Rupee for the FY 2011-12 against the British Pound appreciated by approx 7. 7% and against U. S. Dollar by approximately 4. 4% for the FY 2010-11.Accordingly, their operating results have been and will continue to be impacted by fluctuations in the exchange rate of the Indian Rupee with the British Pound, the U. S. Dollar along with other foreign currencies. Any strengthening of the Indian Rupee against the British Pound, the U. S. Dollar or other foreign currencies, as witnessed in the last year, could adversely affect their pro fitability. c. ) Corporate Governance Report The Company believes that Corporate Governance is a set of guidelines to help fulfill its responsibilities to all its stakeholders. It is a voluntary code of self-discipline to ensure that the Company abides by highest ethical standards. In line with this philosophy, the Company follows healthyCorporate Governance practices and has been reporting the same in annual report even before the Company was listed in August 2006. Board of Directors: The Composition of the Board is in total conformity with Clause 49 of the Listing Agreement, as amended from time to time. The Company has a balanced mix of eminent executive, non-executive and independent directors on the Board. The total strength of the Board of Directors is eleven. The Company has a Non-executive Chairman, who is a professional Director in his individual capacity and belongs to the Promoter Group and the number of independent directors is seven which is more than half of the total strength of the Board as required by the provisions of the Listing Agreement.The number of Non-Executive Directors is ten which is more than 50% of the total number of Directors. The Company is managed by the Vice Chairman & Managing Director and the Management Team. The Board reviews and approves strategy and oversees the performance to ensure that the long term objectives of enhancing stakeholder value are met. The Independent Directors and the Senior Management have made disclosures to the Board confirming that there are no material financial and/or commercial transactions between them and the Company which could have potential conflict of interest with the Company at large. The Board meets at least four times a year and the maximum gap between two meetings is not more than four months.During the year 2011-12, six meetings of the Board of Directors were held on 20th April 2011, 26th May 2011, 12th August 2011, 15th November 2011, 8th February 2012 and 21st March 2012. Agenda for the Board Meetings containing all necessary information / documents is made available to the Board in advance to help the Board to discharge its responsibilities effectively and take informed decisions. In some instances, documents are tabled at the meetings and the concerned manager also makes presentations to the Board or Committees. None of the Directors on the Board is a member in more than 10 committees or acts as a Chairman of more than 5 committees across all companies in which he is a director.The directors of the Company are not inter se related. CEO / CFO Certification As required under Clause 49 V of the Listing Agreement with the Stock Exchanges, a Certificate on the Financial Statements for the financial year ended on 31st March, 2012 has been given to the Board of Directors by the Vice Chairman & Managing Director and the Chief Financial Officer of the Company. Code of Conduct All the Directors and senior management personnel have affirmed compliance with the Code of C onduct/ Ethics as approved and adopted by the Board of Directors and a declaration to that effect signed by the Managing Director. The Code has been posted on the Company’s website – www. techmahindra. om Policy for prohibition of Insider Trading In compliance with the provisions of SEBI (Prohibition of Insider Trading) Regulations, 1992, (as amended from time to time) and to preserve the confidentiality and prevent misuse of unpublished price sensitive information, the Company has adopted a policy for prohibition of Insider Trading for Directors and specified employees of the Company, relating to dealing in the shares of the Company. This policy also provides for periodical disclosures from designated employees as well as pre-clearance of transactions by such persons. Whistle Blower Policy The Company has a Whistle Blower Policy in place.In terms of this policy, all employees are encouraged to report any instance of unethical behaviour, fraud, violation of the Company ’s Code of Conduct or any behaviour which may otherwise be inappropriate and harmful to the Company. The policy provides a mechanism for employees to raise concerns that relate to violation of the Code of Conduct, Accounting, Internal Controls, Auditing Matters and applicable national and international laws including statutory / regulatory rules and regulations. This policy has been communicated to all employees and has been posted on the Company’s Intranet for ready access. Risk Management: The Company has a well-defined risk management framework in place. The risk anagement framework adopted by the Company is discussed in detail in the Management Discussion and Analysis section of this Annual Report. The Company has established procedures to periodically place before the Board, the risk assessment and minimization procedures being followed by the Company and steps taken by it to mitigate these risks. 6. ) Share Prices Analysis Share Prices of TCS as on 29th August ar e nearly Rs 1352. 90. It has increased from approximately Rs 954 to Rs 1352. 90. Share prices have been on the increase in the last year. According to the price movements and ratios calculated it is a very good buy. Share Prices of Tech Mahindra as on 29th August are nearly Rs 875. 80.It has increased from approximately Rs 617 to Rs 875. 80. Share prices have been on the increase in the last year. According to the price movements and ratios calculated it is a good buy. Comparing both together TCS is a better buy. 7. ) Key Improvement Areas and Ratings a. ) Key Improvement Areas Both should try to reduce their debtors. Tech Mahindra should increase its volume of current assets. Rest both the companies are high performing companies as seen by the analysis and share prices. b. ) Rating TCS is better than Tech Mahindra as the ratios are fairly better for it. Also from investment point of view share prices and ROE has been better for TCS. Also profitability of TCS is higher.