Wednesday, August 26, 2020

Globalization, Locality and National Advantage as the Key Determinants Research Paper

Globalization, Locality and National Advantage as the Key Determinants of Competitiveness - Research Paper Example The British atmosphere is too cold to even think about growing espresso trees, and Jamaica has no oil. In any case, enormous assets of oil exist in the North Sea and espresso trees can without much of a stretch be developed in Jamaica. Britons and Jamaicans could plainly profit by trading oil for espresso. Smith's hypothesis of total bit of leeway - or outright efficiency contrasts - stays valuable in clarifying present-day exchange between comparable nations, for example, France and Germany. The normal expense of utilizing a laborer in Germany is about equivalent to it is in France, and capital moves openly between the two nations; thus returns generally equivalent. Thusly, to contend effectively with a cost advantage in the French market, a specific German fare must utilize completely less work and capital when delivered in Germany than if the indistinguishable thing were created in France. Exchange between comparable nations can happen insofar as the preferences and livelihoods of people inside every nation contrast thus long as there are supreme cost contrasts in creating different merchandise. In this way, individuals in France and Germany who have unobtrusive earnings and require fundamental transportation, and whose hearts are not set on a powerful games vehicle, may buy Citroens made in France. Well off people in the two nations with an energy about superior vehicles may buy Porsches made in Germany. The taste and pay contrasts among people inside every nation collaborate with explicit outright cost favorable circumstances across nations and give a commonly beneficial premise to worldwide exchange. Unmistakably, if all Frenchmen needed uniquely to drive Citroens, and if all Germans wanted Porsches and had the way to get them, the extension for exchange would be confined.

Saturday, August 22, 2020

Culture affects Essay Example for Free

Culture influences Essay This article will be focussed on looking at two scenes from two unique plays, the fundamental characters and their characters, and how their way of life influences them. The two plays being referred to are Arthur Millers The Crucible and Blackrock by Nick Enright. Arthur Miller was an American writer who was conceived in 1915. He experienced childhood in New York to a Jewish family. He moved on from the University of Michigan in 1938 where he started to separate himself as a writer. His play The Crucible was written in 1953 and later adjusted to a film featuring Daniel Day Lewis and Winnona Rider in 1996. The Crucible enlivened by the Salem Witch Trials. A gathering of guiltless young ladies are found moving and reciting in the backwoods around a fire. (Puritan England where all types of moving and happiness would be carefully taboo) To spare themselves from being rebuffed, they cry black magic and inside days the entire town goes frantic looking for the nearness of the Devil and his witches. The couple of fair and genuine individuals who don't mislead spare themselves from hanging are icily killed, including John Proctor the primary male job. Scratch Enright was conceived in Maitland in New South Wales. He began his vocation in the auditorium as a youngster and composed Blackrock in 19 and later on in 1997 was adjusted to a film. Blackrock about an adolescents ideal surfer way of life is broken when a little youngster is severely killed after a sea shore party and the examination approaches his friend network. The youngster Jared, must arrangement with his inner voice and his feeling of unwaveringness to his friends. Both the plays Blackrock and The Crucible albeit set in various timeframes, both have a principle character confronted with a type of individual good issue. The choice among good and bad, and having the mental fortitude to put yourself in danger for the benefit of others. Act 4 of The Crucible The scene changes from the Vestry in the Courthouse to Salem jail. Marshall Herrick enters and awakens Goody Good and Tituba with the goal that they can be moved to an alternate cell. Tituba discloses to Herrick that they anticipate the Devil, who will fly them to Barbados. The Reverend Hale shows up and tells the detainees that they should admit to being witches so as to upset the crazy Court and abstain from being hanged. Reverend Parris finds that Abigail and Mercy Lewis have vanished in the wake of burglarizing Parris and he presumes they may have boarded a boat. Parris postpones disclosing to Danforth this news since he fears that there will be a disobedience in Salem like the ongoing uprising in Andover. There they tossed out the Court, as the individuals were discontent with the proceedings. When Danforth finds out about the vanishing of Abigail he despite everything thinks about that the proof stands and won't defer the executions for it would be an indication of shortcoming. Sound begs him to reexamine or if nothing else give him an opportunity to convince the detainees to admit. Reverend Hale is experiencing issues in convincing the seven sentenced to death to admit, and he argues again with Danforth for additional time. He detects that Proctor is thinking about admitting, so he requests that Elizabeth converse with her better half focusing on the future coming up for their kids on the off chance that he is hanged. Elizabeth feels liable for Proctors circumstance since she lied in Court. She additionally feels regretful for being dubious about her better half after the undertaking with Abigail. She reveals to Proctor that she absolutely pardons him for the issue. Delegate trusts that in the event that he makes an oral admission in Court, that will be adequate for his Judges, yet they require it recorded as a hard copy and it will be posted on the Church entryway. He can't confront this and, consequently, withdraws his admission. He would prefer to bite the dust, and save his great name.

Monday, August 17, 2020

Reading My Way Out of The Closet

Reading My Way Out of The Closet Today is  The Human Rights Campaign’s National Coming Out Day, and to celebrate we are spending the day featuring  LGBTQ+ voices. Enjoy all the posts  here! This is a guest post from Alexander Chee. Chee is the author of the novels Edinburgh and The Queen of the Night, and is an associate professor of English at Dartmouth College. You can follow him on Twitter at  @alexanderchee. When I’m honest with myself, I know that I read my way out of the closet. I began with my uncle’s Penthouse magazines, hidden in his garage, and the stories there under “Letters to Penthouse,” the first place I ever saw what I felt reflected back at me. It was part of what made me a bookworm as a kid, I thinkâ€"understanding that while the world around me might hide what I was from me, written words would not. Next I found Mary Renault’s Alexander the Great novelsâ€"Fire From Heaven, The Persian Boy, and Funeral Gamesâ€"and the hero was even, helpfully, a man with my name. A name my father told me had been chosen because of Alexander the Great. Reading these even made me feel like it was my destiny. These were beautifully written historical novels, well above my reading ageâ€"I was reading them at age 13â€"but Bagoas, the Persian eunuch lover of Alexander, has haunted me ever since. Next were Cheever’s Falconer, and the Wapshot novels, but these paled beside what I found in Gordon Merrick’s novels of decadent gay life in the mid to late 20th century, often set in Greece or France, and often with a beautiful young man exploring his sexuality by making lots of mistakes with as many men as possible, usually on a boat or a beach in Greece or France. By the time I saw that first iconic image of Thomas Hintnaus in the first Calvin Klein underwear ad, leaning up against a stucco wall, his bronzed Olympic athlete body the only figure visible, I knew what he was to me. And so that ad became the equivalent of putting a centerfold in every issue of every major magazine. There was a restlessness in me that didn’t stop there, thoughâ€"soon I was shoplifting issues of Honcho and Mandate, until I was old enough to buy them, but by then I had tried to come outâ€"to friends, to my mother, and even, once, to my high school, with a play I wrote. “I was used to imagining what it must be like,” Cherrie Moraga wrote of it, this feeling of having rehearsed, so often, what one wanted from the world, always doing without it. And this was the kind of queer text I was reading by thenâ€"the poetry, essays and fiction of lesbian writers of color. I had gone from needing to see my desires reflected to needing to see my consciousness around them reflected. But I think you cannot really come out until you fall in loveâ€"until all your desires find a face you want to be yourself in front ofâ€"and so, the fall of my first year at Wesleyan, I met the TA for my ceramics class, a handsome, openly gay senior on the crew team, and when the ads went out for novice crew, I signed up. My TA crush, if he ever noticed me, never let on, but that didn’t stop me from trying to be in his path. I’d had what I could call a boyfriend in high school, except everything we did together was secret, and while we were friends, we were not in love. But while I tried so very hard to be good at ceramics, and tried to at least wave hello casually down at the boat house, I rowed this last way out of the closet into my life, coming out to all of my friends that next fall when I returned. The gay crew god had left by now. And I was no longer trying to either be or imitate what I desired as a way to signal to it. I was left with my own fate, my own sense of myselfâ€"my own chance to make my own series of mistakes, if not in France or Greece, then  in New York and San Francisco. And write about all of it. I am very aware, every time I publish, that somewhere, someone is rehearsing, and that could be helping them on their path. If this is you right now, just know you should keep going. Keep reading, desiring, loving. And prepare to find your way. Also In This Story Stream The Struggle with Stories of Queer Suffering 5 Fantastic Comics about Queer Women LGBTQ Works in the Time of Crisis 5 Books about Bisexual Women of Color 3 On A YA Theme: A Rainbow of Queer YA Genre Kryptonite: Queer Ladies Solving Crime 7 Bisexual Protagonists I Wish I Met Growing Up An Introduction To the Queer Bookternet Great Bisexual Representation in Romance My Queer Ship Came In: Legend of Korra Giveaway: What Are the Best LGBTQ Reads for Kids? Where Are the LGBT Food Memoirs? Nothing New Under The Sun How Comics Helped Me Come Out As Non-Binary View all ncod posts-->

Sunday, May 24, 2020

Colgate Palmolive Financial Analysis - 967 Words

COLGATE-PALMOLIVE ANALYSIS Section I - Business Overview Colgate-Palmolive is a leading consumer products company with businesses in two main product segments – Oral, Personal and Home Care; and Pet Nutrition. The company operates in more than 200 countries and this geographic diversity and balance help to reduce the Company’s exposure to businesses and other risks in any one country or part of the world. The company’s main competitors are Proctor amp; Gamble (PG), Johnson amp; Johnson (JNJ), Church Dwight amp; Company (CHD) and Clorox amp; Company (CLX). Section II – Ratio Analysis Return On Equity (ROE) The ROE has declined for Colgate-Palmolive from 93% in 2008 to 72% in 2010. But the debt to equity ratio has declined from†¦show more content†¦Though current ratio does not take into account future sales and other cash inflows in future, the declining trend might be a problem if it continues in the future. Quick Ratio The quick ratio reflects on a company’s ability to meet its current liabilities without liquidating inventories that could require markdowns. It is a more stringent test of liquidity than the current ratio and may provide more insight into company liquidity in some cases. For Colgate-Palmolive, the quick ratio has declined from 0.73 in 2008 to 0.58 in 2010. While this does not necessarily mean a problem, a higher current ratio and quick ratio analysis will mean that the company will not have difficulty in meeting its short-term obligations from its operations and not by liquidating its assets. Section IV Conclusions The ratio analysis indicates mostly positive outlook for Colgate-Palmolive as most of the measures look healthy. The ROE has reduced by increasing assets and reducing liabilities, the cash conversion cycle has decreased and the days payables outstanding has increased. But Dupont analysis indicates that profitability and efficiency have become lower. Additionally, the working capital has become lower and the current and quick ratios have declined. To understand the impact of these declining ratios on this company, the industry trend has to be analyzed to see if this happening throughoutShow MoreRelatedTodays Segmentation Strategies of Colgate-Palmolive1207 Words   |  5 PagesWS1 Case Study Paper Indiana Wesleyan University WS1 Case Study Paper Colgate-Palmolive Company While many companies provide a similar product there aren’t any that share the same perspective when it comes to the sincere appreciation and willingness to provide like that of Colgate-Palmolive. Their mission statement is unique to them and simply states the following: As a company that strives to be the best truly global consumer product company, we are committed to doing business with integrityRead MoreProcter And Gamble ( P G755 Words   |  4 Pagesand Gamble (PG) and Colgate-Palmolive (C-P) are two of the largest consumer goods company in the world and have been in the industry since the 80s. The companies manufacture and market fast moving consumer goods (FMCG) such as household products, and personal care and hygiene, targeting at various segments of consumers. Among the brands carried by PG are Downy, Olay, Tide, Clairol and Bounty. Popular brands under C-P are Palmolive, Kleenex, Colgate, etc. In terms of financial performance both companiesRead MoreBrand Essence Colgate1227 Words   |  5 Pagesis Colgate. Colgate is a division of the Colgate-Palmolive brand that produces soaps, detergents and oral hygiene products. Colgate focuses on oral hygiene and is a maker of toothpaste and toothbrushes. Started in 1806 by William Colgate as a soap and candle company. When William died in 1857, his soon took over. In 1837, Colgate introduced their first toothpaste and was the first to introduce toothpaste in a tube. In 1928 Palmolive-Peet bought Colgate and in 1953 the name changed to Colgate-PalmoliveRead MoreMarketing and Colgate7310 Words   |  30 Pages A Strategic Analysis of Colgate ´s toothpaste product line TABEL OF CONTENT 1. 2. 3. 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With 50% ofRead MoreColgate Palmolive: Marketing Strategies and Programs5256 Words   |  22 PagesCOLGATE PALMOLIVE Marketing Strategies and Programs Introduction Colgate Palmolive Company is a $17.1 billion global company serving people in more than 200 countries and territories with consumer products that make lives healthier and more enjoyable. This American  diversified  multinational corporation focuses on strong global brands in its core businesses – Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate follows a tightly defined strategy to grow market shares for key productsRead MoreProject on Colgate4336 Words   |  18 PagesIntroduction Colgate  Palmolive ltd. is one of the largest FMCG Company in India. Colgate-Palmolive headquartered in  New York City  is the biggest seller of toothpaste and a world leader in oral care products (mouthwash, toothpastes, and toothbrushes). The company also makes personal care products (baby care, deodorants, shampoos, soaps) and household cleaners (bleaches laundry products, soaps). Its other well-known brands include Palmolive dishwashing liquid and tabs,  Ajax  surface cleaners, and laundryRead MoreThe New Optic White High Impact Toothpaste With Its Innovative Ingredient Technology Opens A Lot Of Opportunities For The Essay1519 Words   |  7 PagesV. Situation Analysis The new Optic White High Impact White toothpaste with its innovative ingredient technology opens a lot of opportunities for the company. In the effort to prepare a strategic plan, marketing management used a SWOT analysis tool to better evaluate company’s strengths, weaknesses, opportunities and threats. This analysis is an overview of Colgate’s position in the market place. Colgate-Palmolive Company built some remarkable strengths whileRead MoreColgate Palmolive Ethics Report3374 Words   |  14 Pagesto know if the company’s activities are good or bad, if there is any scandal related to their products or services, if it cares about protecting the environment and if it makes any contribution to the local community. As an outside stakeholder, financial analysts take into account, among other things, CRS as an indicator of likely future performance. Sustainability is about ensuring that this present generation meets its needs without compromising the ability of future generations to meet theirRead MoreERP System Analysisï ¼Å¡ Colgate ERP Implementation MBA517 Information system management Midterm1200 Words   |  5 PagesERP System Analysisï ¼Å¡ Colgate ERP Implementation MBA517 Information system management Midterm paper DI BAI 108726305 Introduction With development of the information system management, ERP system has been familiar with more and more people. 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Wednesday, May 13, 2020

Essay on Differences Between China and Saudi Arabia

Saudi Arabia and China are quite different countries. The latter is much larger than the former. The former is the largest country of the Arabian Peninsula and it is located in Middle East, bordering the Arabian Gulf and the Red Sea, north of Yemen. The latter is the largest country in Eastern Asia, bordering the East China Sea, between North Korea and Vietnam. Although there some similarities between Saudi Arabia and China, there are also several differences in the areas of population, economy and the culture. First of all, Saudi Arabia and China have some similarities. The former has the international airports and the latter has too. Saudi Arabia keen on literature just as China does. Fast food is popular not only in China put also†¦show more content†¦The first one important difference is the people, China has a population of 1.3 billion people, about fifth of the worlds population while Saudi Arabia has 28.1 million people, including an estimated 5.5 million resident foreigners about 23% of the population is made up of foreign nationals living in Saudi Arabia, approximately 12% of the population is South Asian including Indians, Pakistanis and Bangladeshis. In addition there are some citizens of Asian, Northeast African and sub Saharan ancestry, Whereas China has ethnic groups, large ethnic minorities include the Zhuang, Tujia, Mongols Tibetans and Koreans. All people in Saudi Arabia speak Arabic language, in contrast to Chinese people speak many languages, Standard Chinese or Mandarin, Gang, Hakka dialects and Minority language. All people in Saudi Arabia are Muslims 100%, as opposed to China where Chinese has different religions, such as Daoism, Buddhist and Christian. The second difference is in economy, Saudi Arabia is richer than China, because of Saudi Arabias economy is petroleum based , roughly 90% of export earnings come from the oil industry , on the opposite side China exports electrical and other machinery including medical equipment. On the other side, Saudi government has built economic city includes petrochemical and pharmaceutical. Although, Saudi Arabia became a world trade organization member, China is larger trading power than Saudi Arabia. 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Brad Plumer points out that economy in Russia is â€Å"facing a potential meltdown†; Venezuela is â€Å"facing unrest† and â€Å"may default on its debt†; and Saudi Arabia will face heavy pressure if the price remainsRead MoreEssay on Comparative and Absolute Advantage4211 Words   |  17 PagesComparative and Absolute Advantage ECO 561 Alfred Igbodipe 7/24/16 Introduction Due to the differences between the countries in its profitable fundamentals; the International Trade occurs. The contracts between the countries consider as the primary driver of the global exchange. These contracts concluded on the basis of the countries beneficial elements and advantages. Each international trade between the countries depends on numerous focal points of this exchange process. 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Libya, Qatar, Saudi Arabia, Algeria, Angola, Iraq, Kuwait, Iran, United Arab Emirates, Angola, Nigeria, and Venezuela. The organization is formed by five countries reaching to an agreement to OPEC in 1960. These countries, are Iraq, Iran, Kuwait, Venezuela, and Saudi Arabia. AccordingRead MoreMulticultural Considerations in Business880 Words   |  3 Pagescultural understanding in all international dealings. In Saudi Arabia, familial ties are an immensely important part of most businesses, and end up dominating most domestic business partnerships in the world of finance and medium- to large-scale corporate enterprises (Long, 2005). What might be considered unfair or inappropriate in terms of family ties between different businesses and in making deals is considered natural and commonplace in Saudi culture, and not simply an acceptance but a true understandingRead MoreThe Case Of Saudi Arabia1736 Words   |  7 Pagesand stakeholders. However international markets are difference due to each society, this paper will provide a different definitions for corporate governance, and we will study the main factors that will influence the form and structure of corporate governance systems, those factors are traditions, religion, tax methods and corporate governance methods. In this paper will study the case of China basically, and will study the case of Saudi Arabia in religion methods, we will provide a comprehensiveRead MoreGlobalization And The Middle East998 Words   |  4 Pagesof development under different political and cultural background. During this period, Such as the United States of America s economic status from the rapid development to the decline, then move to the current stable trend. Brazil, Russia, India, China, which named ‘BRCIS’ those developing countries’ economic performances are very catch the attention in recent years. The decline and rise of these countries commercial economy are closely related to their political culture. Therefore, it attractedRead MoreFour Types of Research646 Words   |  3 Pagesseveral differences, as well as similarities, between the United States and other countries regarding methods to maintain order. Most laws are designed to protect citizens in countries like the United State s and England. On the other hand, this is not true for countries like Saudi Arabia and China. In Saudi Arabia, the countries laws are based on the Islamic religion. Therefore, women, homosexuals and religious minorities are often targets of violence. In the communist country of China, where

Wednesday, May 6, 2020

Abortion Pill Free Essays

string(47) " a synthetic steroid used as a pharmaceutical\." â€Å"The abortion pill should be banned due to the negative consequences it causes to women† Abstract The New Era’s freedom of sexuality and contraception’s campaigns had reached all the world, leading as a consequence the fact that in every country there are more and more unwanted pregnancies. Conception has been debated for so long, and there’s not a scientific posture accepted officially by any nation, so due to desperation, medical experts had created what appeared to be -for some- the solution to unplanned pregnancies, the abortion pill. The components of this pill are lethal if the it doesn’t work as it meant to be, psychological and physical effects can remain forever in women’s life, without even a possible cure, depending on the cases. We will write a custom essay sample on Abortion Pill or any similar topic only for you Order Now The purpose of this essay is to proof that its better to think before making any decision that will bring serious impacts in people’s life, including family and of course, society; abortion with the pill its not easier or less painful than the other ways. INTRODUCTION Abortion had been part of our history from many years ago, but do we really know how it appeared and how it influences negatively our society?. I shall began the development of this controversial subject by exposing the genesis of abortion; the first evidence of induced abortion is from the Egyptian Ebers Papyrus near the 1550 BC, but it was in China were this matter became a concurrent practice between women, so according to Chinese folklore, the Emperor Shennong prescribed mercury to induce abortions. In primitive cultures, they used physical activities as a way to interrupt pregnancy, such as climbing, weightlifting or diving, while others tend to use plants and its poisons or pouring hot water into the abdomen. Some archaeological discoveries indicate that surgical attempts to extract the fetus existed in these cultures. In Greece and Rome, abortion was practiced as well. Hippocrates, a Greek physician forbid the use of pessaries or vaginal suppositories to induce the interruption; apparently because they caused vaginal ulcers, in an oath for doctors. In the other hand, Scribonius Largus, a Roman famous doctor said that â€Å"Hippocrates, who founded our profession, laid the foundation for our discipline by an oath in which it was proscribed not to give a pregnant woman a kind of medicine that expels the embryo or fetus†[1]; the interpretation of this oath was only applied for women who were not prostitutes, because otherwise they would have to use methods such as jumping and touching their buttocks with their heels on each leap. There were found likewise certain objects described as instruments that apparently dilated cervix and curette inside of the uterus. Moving on to the second and third century, Tertullian, a Christian theologian, described surgical implements that were part of a procedure very close to what now we call dilation and evacuation, it consisted on a tool like an annular blade to curette and a blunted or covered hook to extract the fetus, they would use as well a copper needle or spike. Tertullian said that this procedures could take place only when the fetus was in an abnormal position in the womb and it would endanger the life of the mother, or when it had expired in the uterus[2]. Hyppolytus of Rome, wrote about women that binded tightly themselves around the middle in order to expel what was being conceived. Later on from 5th century to 18th, appeared new methods of abortions. The most popular one was to sit over a pot of steamed onions or to massage pressuring the abdomen to expulsion the baby. The physical means remained represented this time by battery or tightening the girdle, these were special bands worn while being pregnant to support the belly. In New Zealand, before colonization, drugs, religious ceremonies and the restriction belt were used. In Asia, the peasant Japanese women were hit till they abort, a proof of this are the statues erected in memory of abortion in the Temple of Yokohama. In Cambodia’s temples in their walls are some decorating paintings that shows a demon performing an abortion upon a oman who has been sent to the underworld for committing such a crime. In the 19th century, there were notorious advances in surgery, anesthesia and sanitation, and abortion was banned in the United States of America. Even though, research has shown that the most common and illegal method by that time was the flush inside the uterus. In France, family planning writers convinced the society that abortion was a logical solution to unwanted pregnancies. Women got desperate and started using objects such as spoons, sticks, candles and knives to abort. Statistics show that abortion remained dangerous and that 150,000 abortions that occurred annually in the U. S during the 20th century, one in six resulted in death[3]. The natural abortifacients were the inspiration for the creation of the abortion pill, this included botanical preparations with Italian catnip, cyperus, pennyroyal (which is lethal), savin, opium, lavender and thyme, even animals were used like crushed ants, saliva of camels and hairs of deers and even bear’s fat. The abortion pill began in New York during the 1830’s by Madame Restell who illicitly provided surgical abortion and the pill. She offered confidence and a good job, she called them â€Å"Female Monthly Regulation Pills†, the labels she used as advertising told about birth control and a possible miscarriage. Her purpose was to help women at first, but hen it became a millionaire business and she took advantage of it, extending her services not only to unmarried women who were pregnant, but also to those who were married and didn’t want a baby yet, leading to the pioneer of family limitation of the time. She remained forty years in the market and was always the main target of criticism, she got arrested in 1841 and committed suicide in 1878[4]. The abortion pill’s main component is called Mifepristone, which is a synthetic steroid used as a pharmaceutical. You read "Abortion Pill" in category "Papers" Its both used as a contraceptive and an abortifacient during the first two months of pregnancy. It was discovered by Georges Teutsch, developed in Roussel-Uclaf Co. in 1980 but bettered by Emile Baulieu, who made tests of its use in eleven women in Switzerland at the University of Geneva’s Cantonal Hospital, the results ere successful and in 1988 France announced its approval, despite antiabortion movements that took place. French government decided to distribute it free of charge and near 34,000 women used this pill for a short period of time, until Roussel-Uclaf settled a price. Mifepristone was introduced to Great Britain and Sweden in 1991, this is when the Roman Catho lic Church protested and blocked all types of distribution of the abortion pill. After all boycotts, Exegyl in 1999 got the approval of Mifegyne (Mifepristone) in eleven additional countries and in 28 countries over the following decades. This medicine is approved for: Medical termination of pregnancies (up to 49 days of gestation), dilation of the cervix prior to mechanical cervical dilatation and labor induction in fetal death inside the uterus. This is sold in the U. S, and a 600 mg dose is administered combined with the proper counseling session; then 400 mg of misoprostol is given to the patient in order to provoke contractions, the accuracy of this method is calculated in the 92% of the cases, and if its not, then surgical procedure takes place. Its obvious that the purpose of this pill is to end up with life and bring to the whole world a new era of irresponsibility and freedom of sexual relations without contraceptive methods and promiscuity. Abortion’s consequences can be referred as physical and psychological, though it varies from woman to woman, it depends on the organism and how it works, as well as moral and ethic values. Regarding physical aspect, it is proven by the Royal College of Obstetricians and Gynecologists that this method has a risk of 0. 23% of failure and could lead to negative consequences for the mother[5]. The list of complications can begin with abdominal pain, uterine cramping and vaginal bleeding from 9 up to 16 days, even though the last research show that almost 8% of women experienced bleeding for at least 30 days and between 4. 5 and 7. 9% of women require a surgical intervention, as we know this can lead to a more dangerous procedure. Nausea, vomiting, fatigue and diarrhea with fever are some other side effects. As we can see, its not only getting rid of a life, but jeopardizing your own body’s health. The worst physical effect could be the Pelvic Inflammatory Disease also alled PID, which affects not only the uterus, but also the fallopian tubes and the ovaries by scarring inside the reproductive organs. Infections might take place due to viral, fungal, parasitic and bacterial infections. Over 100,00 women become infertile in the US each year because of PID[6], it can also cause appendicitis, ruptured ovarian cysts and even tumors. This disease may be curable but in the worst of cases it can be permanent if the infection is in the fallopian tubes or ovaries, to avoid all this complications is through prevention. Infertility maybe a result of the use of the pill, this is the proof that using it is like playing to the roulette, you don’t know what you are going to get afterwards. Neonatal exposure to a single large dose of Mifepristone causes both functional and structural reproductive abnormalities. In fact, 71 cases registered between 1987 and 1998 as continued pregnancy after the failure of using the pill, it is estimated that about 405,000 medical terminations of pregnancy using Mifepristone in the United Kingdom, France and Sweden. In 21 of the cases, Mifepristone was used alone, and in the others it was combined with misoprostol, sulprotone, gamesprost and an unspecified prostagladin. The research concluded that eight cases from the 71 embryos were malformed[7]. There’s another example occurred in Brazil, a study showed that 42 infants ex[posed to the abortion pill (200-1600mg dose), had defects after their mothers fail in interrupting pregnancy during the first three months of gestation, proving that this problem is not only in Europe and North America, its also an issue of Latin America countries. Consequences are not just about physical, psychological might be even worse. Researches has been interested in post-abortion reactions, concluding in a period of psychiatric emotional paralysis, also called numbness; this mean women are unable to express any feeling or emotion, in order to finally get over it. Between 40 and 60% of women questioned reported negative reactions, 55% expressed guilt even after weeks of having committed abortion, 44% had nervous disorders, 36% had sleep lack, 31% experimented regrets and 11% has prescription of psychotropic medicine. These results are really alarming considering that these studies were made 8 weeks after abortion. Another research was based in interviewing 500 women, the 10% of them agreed that they had serious psychiatric complications and the 50% experienced negative feelings and hate for themselves. Statistics reveal that sex life of aborting women is affected dramatically represented by the 30-50% of sexual dysfunctions, losing pleasure for intercourse, pain and aversion to sex even males; or by the contrary promiscuous life style. As a result, most of them end up pregnant again to make up for what they did before. Teenagers that tend to abort, have higher risks of living with psychological perturbations forever, even more if they are under 17 years old; symptoms include self-reproach, depression, social regression, withdrawal, obsession to become pregnant again and hasty marriages[8]. Data indicates that there’s a five tot en year period of denial of a woman who is traumatized by abortion in which she may repress all her feelings, avoid people, situations or events that could remind her of that episode. But it’s not over at all, other women might feel pleased at first, but decades later they will burst into an emotional crisis, mainly during menopause, abortion is like a ghost chasing women’s memories. Family is also affected by abortion, this is because all these psychological reactions increase the self-destructive behavior, the 80% percent of the questioned women expressed to feel self-hatred. The 49% reported drug abuse and the 39% began abusing from alcohol. Near the 14% accepted becoming alcoholic or addicted after the abortion period, the most worrying fact is that more than the half of them with the 60% have thought about suicide only the 28% succeeded in the attempt more than two or three times[9]. Considering all these numbers and information based on multiple studies done for years, it’s time to educate our society in first place to avoid all this terrible and unnecessary nightmare women have to live everyday, because abortion unfortunately is an everyday issue. Women should analyze all the risks they are running only for some minutes of pleasure, responsibility is the most assertive way to handle sex life, the use of contraception had been promoted worldwide constantly since long time ago, so there’s basically no excuse for acting selfish regarding a pregnancy. Is understood as well that there’s non consensual intercourse, but never the less there other solutions for an unwanted child such as giving him/her up for adoption, since there are so many families wanting so much to have children without the opportunity to. The government is the one that should encourage teenagers and in general all the population to think about this issue and impose policies that supports correct sexual education so abortion rate could decrease. Life is a gift from God that should be appreciated despite any fact, we have no right to decide if someone must live or die. Medicine and technology had helped society grow this last years, but it doesn’t mean we don’t have to set up limits to it, we can’t let them control our lives and our destiny. The abortion pill should be banned not only because of scientific facts shown before but for ourselves, to make a better place we can live in. This not only about one life and by being selfish, but about our community and the example we are leaving behind for our future generations. Methods like this jeopardize the integrity of family, the moral values that makes it the nucleus of the society, setting the standards of promiscuity and false sexual freedom. BIBLIOGRAPHY 1. Scribonius, Compositiones Praef. 5. 0–23 (Translated and cited in Riddle’s history of contraception and abortion) 2. Celsus (1935). â€Å"Prooemium†. In W. G. Spencer. De medicinal. London: Heinemann. p. 457. OCLC  186696262. http://penelope. uchicago. edu/Thayer/E/Roman/Texts/Celsus/7*. html. 3. Streitmatter, Rodger (2001). Voices of Revolution. Columbia University Press. p. 169 4. Richardson, Cynthia Watkins (2002). â€Å"In the Eye of Power: The Notorious Madam Restell† (PDF). Khronikos (University of Maine) 5. The Care of Women Requesting Induced Abortion  : Evidence-based clinical uideline number 7. London 6. STD Facts – Pelvic inflammatory disease (PID)†. http://www. cdc. gov/std/PID/STDFact-PID. htm. 7. UK multicentre study group. The efficacy and tolerance of Mifepristone and prostaglandin in termination of pregnancy of less than 63 days gestation; UK multicentre study—final results. Contraception 1997; 55: 1-5 8. Wallerstein,et. al. , â€Å"Psychosocial Sequelae of Therapeutic Abortion in Young Unmarried Women†, Archives of General Psychiatry (1972) vol. 27 9. Reardon,†Criteria for the Identification of High Risk Abortion Patients: Analysis of An In-Depth Survey of 100 Aborted Women†, Presented at the 1987 Paper Session of the Association for Interdisciplinary Research, Denver. 10. Wilke, Handbook on Abortion, (Cincinnati, Hayes Publishing Co. , 1979 11. Zimmerman, Passage Through Abortion (New York: Praeger Publishers, 1977 ———————– [1]Scribonius, Compositiones Praef. 5. 20–23 (Translated and cited in Riddle’s history of contraception and abortion) [2]Celsus (1935). â€Å"Prooemium†. In W. G. Spencer. De medicina. London: Heinemann. p. 457. OCLC  186696262. http://penelope. uchicago. edu/Thayer/E/Roman/Texts/Celsus/7*. html. 1. [3]Streitmatter, Rodger (2001). Voices of Revolution. Columbia University Press. p. 169 1. [4]Richardson, Cynthia Watkins (2002). â€Å"In the Eye of Power: The Notorious Madam Restell† (PDF). Khronikos (University of Maine). [5]The Care of Women Requesting Induced Abortion  : Evidence-based clinical guideline number 7. London [6]†STD Facts – Pelvic inflammatory disease (PID)†. http://www. cdc. gov/std/PID/STDFact-PID. htm. [7]UK multicentre study group. The efficacy and tolerance of Mifepristone and prostaglandin in termination of pregnancy of less than 63 days gestation; UK multicentre study—final results. Contraception 1997; 55: 1-5 [8]Wallerstein,et. al. , â€Å"Psychosocial Sequelae of Therapeutic Abortion in Young Unmarried Women†, Archives of General Psychiatry (1972) vol. 27 [9]Reardon,†Criteria for the Identification of High Risk Abortion Patients: Analysis of An In-Depth Survey of 100 Aborted Women†, Presented at the 1987 Paper Session of the Association for Interdisciplinary Research, Denver How to cite Abortion Pill, Papers

Monday, May 4, 2020

Financial Statement Analysis - Redesign Of Starbucks Stores

Question: Discuss about the Financial Statement Analysis for Global Redesign of Starbucks Stores? Answer: Introduction When you need coffee to start your day, then the options are nearly limitless. Dunkin Donuts and Starbucks Corporation are the 2 largest companies that specialize in providing coffee in the USA. Both the companies has similar menus and strategies, but the difference between the two of them is in their branding, store ownership and scale. Starbucks Corporation was founded 20 years after Dunkin Donuts but then also it grew aggressively and is now larger company as compared to Dunkin Donuts. Although the growth of Outlets like McDonaldsother brands, Starbucks or Dunkin Donuts grabs a good chance. The two big players, who control over half of the coffee market in U.S., are fighting ever-growing competitors. Starbucks and Dunkin Donuts co-existed for long back when Dunkin donuts were all about to serve the donuts (Mullins, 2009). But after the retirement of Fred the Star Baker in the 1990s, Dunkin Donuts started growing its coffee business, bringing Dunkaccino in the year 2000 and espresso revolution in the year 2003. Dunkin Donuts slowly started new coffee drinks, and in the year 2006, declared to go one-on-one with Starbucks. Financial Statements In the year 2015, Starbucksprovided good returns with their stocks up over 50%. On the other handDunkin' Brands gained a modest 2.4% over the same stretch. Since earlier performance does not guarantee future returns, and the investment decisions should be based on forward-looking approach. Regarding the revenue, Dunkin' Brands is way smaller than Starbucks. Though the smaller size of the company can make it more unstable and volatile, but it provides more chances for expansion (Nissim Penman, n.d.). It's becoming easier to withstand rapid growth in a smaller revenue base, which could become an advantage for investors of Dunkin' Brands v/s Starbucks. As Starbucks operates in its stores, therefore it has constricted margins as compared to Dunkin' Donuts. The Profit after the cost of sales, including occupancy costs and product expenses, was 84% for the Dunkin' Brands for the quarter June 2015, Whereas Starbucks had 62% gross margin during this period. The operating marginof Starbucks is 17.5%, which is almost more than 26 % points lower that of the Dunkin' Brands. Dunkin' Donuts also has a lower capital expense as compared to Starbucks. Dunkin' Donuts' spend $14.6 million in the expense in capital in the 2nd quarter of the year 2015 which was 32% of the net cash flow an d 8% of the revenue. Starbucks' $945 million of the expenses in capital was 19% of the revenue and 34% of the net cash flow from operation. This discrepancy is because of different store possession structures of both the companies, and it is important for the investor to make decision about the investment to be made in the above companies. Investors must also note the difference in capital structure of both the companies. The long term debt of Dunkin' Donuts is $2.5 billion which represents 75% of the total assets whereas the long term debt of Starbucks is $2.4 billion which represent 18% of total assets. Retrieved from www.Bloomberg.com Balance sheet analysis Dunkin' Brands had net income declined by 4% during the last quarter because of loss on extinguishment of refinancing and debts. High debt could cause a huge amount of interest expenses that could hamper the long-term profitability and the cash flow. Dunkin' Brands' free cash flow is negative $2.9 million in the last quarter, which was $34.9 million during the same time of the last year. The Improvements were due to favourable changes in operating liabilities and assets and high net income (Ferranti, 2003). Dunkin' Brands balance sheet is highly leveraged, and the cash balance are at 53% of the stockholder's equity and the long-term debts to the equity ratio is at 461%. Its Operating income is more than its interest expenditure by almost four times while the rule for the safety is atmost five times. Presently Dunkin' Donuts pays to its shareholders $0.95 PS every year, and it yields 3% yearly. Starbucks experienced vigorous year to date net income and revenue expansion, growing 18% and 11% respectively.Starbucks free cash flow is in the negative range because of a onetime litigation charge andwithout litigation charge, the free cash flow would have grown 44%.Starbucks balance sheet is excellent with stockholder's equity and cashes 41% and 30% respectively. The Operating income is more than the interest expense by 47 times.Presently the company is paying its shareholders $1.05 (PS) each year, and its yields are 1.6%. Income Statement However," Starbucks has beaten Dunkin' donuts in relations of the revenue increase in last many years. Starbucks continues to lead Dunkin' Brands about sales revenue according to the latest financial reports. One of the Seattle-based company reported $4.9 billion in sales revenue during September quarter, which is a big increase of almost 18% from the similar period last year. Global sales grew up to 8%, with increasing traffic 4% every year, which shows that the Starbucks continues to enjoy lively demand, and the sales of the previously existing stores is not hampered due to the opening of new stores (Rangaswamy, 2007). Dunkin' Brands also announced an increase in sales revenue of 9% last quarter. Growth is much more than just the mathematics of size versus speed. Starbucks Corp. is far bigger than Dunkin' Donuts in areas like world-wide brand recognition and its management's skill to drive growth through product innovation, which is helping the company to deliver exceptional financial results despite of its big size. Comparison between Starbucks and Dunkin Brand Particulars Starbucks Dunkin brand Sales revenue (2014) $16.4 billion $749 Million Stores 22519 11460 Sales revenue of Starbuck Corporation in the year 2014 was $16.4 billion whereas the sales revenue of Dunkin Donuts in the year 2014 was $749 million which means that the sales of Starbuck Corporation was more than that of Dunkin Donuts. Starbuck Corporation has 22,519 stores whereas Dunkin Donuts has 11,460 stores. Starbucks has opened almost 10,000 stores in 64 countries whereas Dunkin' Brands has a considerable international presence, and many of their international stores are Baskin Robbins stores. In the year 2014, almost 75% of the Dunkin brand consolidated revenue were from the USA while international revenue was less than 5% while 20% of Starbucks' Corp. Consolidated revenues were from the USA in the year 2014. Basics of Analysis On the bases of PE Ratio One of the biggest drawbacks while analyzing the investment in Starbucks Corp is possibly valuation. Starbucks trades at a very steaming-hot PE ratio, which is around 34 times earnings over the period of last twelve months, a significant premium v/s the whole market (Amiram, Bozanic Rouen, n.d.). When compared to any of the average company on SP 500 P/E ratio is near 19.The stock of Dunkin' Brands is cheaper than Starbucks at the P/E ratio near to 26. Company Market Capitalization Trailing-12-Month-Revenue Growth (YOY) P/E P/S Dunkin' Brands $3.9 billion 8.3% 26 5.2 Starbucks $83.6 billion 16% 34 4.3 Size As Starbucks is bigger company, this could wrongly lead investors in concluding that Dunkin certainly has more room to run and is better to invest. But when we look closely at both the companies it reveals that Starbucks is not only growing faster than the Dunkin' donuts but has more determined outlook, going ahead. Growth Starbucks is a fast growing company among the two and is expecting the increase in revenue by 10% compared to the previous year which will be driven by 1850 new stores opening. Retrieved from abcnews.go.com Dunkin' Brands expect an increase in revenue growth to be 4% to 6%, which is driven by 400-450 new Dunkin Donuts stores. Franchising Dunkin brand operates through franchises whereas 99% of Starbucks are company operated. In June 2015, 63% of Dunkin Donuts revenue where from royalties and franchise fees. Whereas Starbucks revenue reflects the sale of food, beverages, and all the other items. Because Starbucks has company-operated stores, therefore, COGS and store expenses (operating) are much higher of the Starbucks than the Dunkin Donuts. As COGS is higher in the Starbucks' corporation expenditure structure, therefore, the profits of Starbucks are also more sternly affected by any change in the price of the coffee beans. Starbucks has more capital expenditure as compared to the Dunkin' Donuts (Haskova, 2015). Quality Starbucks is more premium brand than the Dunkin' Donuts. Starbucks commands a higher price, whereas Dunkin Donuts focus on the middle class and provides lower cost menu. Liquidity of the Short term Assets and debt payof ability based on Ratios Profitability Ratios Starbucks Dunkin Donuts Starbucks Dunkin Donuts Gross Margin= Gross Profit/ Net Sales 56% 82% 60% 79% Return on Assets= Net Income/ Total Assets 7% 1% 24% 5% Gross Margin:Itcalculate the cost-effectiveness of the actual products that is sold in the market before some overheadand expenses areexcluded.It helps to measure the price of the product above the cost of the product (Flor Hansen, 2012). Gross margin of Starbuck Corporation in the year 2009 was 56% whereas in the year 2015 it was 60%. Gross margin of Dunkin Donuts in the year 2009 was 82% whereas in the year 2015 it was 79%. This shows that the gross margin of Dunkin Donuts has declined with the period of time. Dunkin' Donuts gross margin is higher than Starbucks, which shows they are using their inputs more efficiently than Starbucks Corporation and then selling their products. Return on Assets:It represents the profitability of a company's in generating revenue. Since the return on asset of Starbucks is higher than that of Dunkin Donut which means they are more efficient in revenue generation as compared to Dunkin Donuts. Starbucks has assets which are more profitable as compared to that of Dunkin' Donuts. Liquidity Ratios Starbucks Corporation Dunkin Donuts Starbucks Corporation Dunkin Donuts Current Ratio= Current Assets/ Current Liabilities 129% 202% 190% 119% Quick Ratio= (Current Assets-inventory)/Current Liabilities 87% 128% 134% 118% Current Ratio: The period of less than one year is called Current as per accounting principal. The formula for calculation of current ratio is CA (Current Assets)/CL (current liabilities). It calculate that the company has good amount of assets which can be within a period of one year be converted into cash to repay the debts which will be due next year. In the year, 2009 Dunkin Donuts have the higher current asset, but after that it started to decline, whereas the current ratio of Starbuck have increased. Therefore, Starbuck is in a better position to repay it dues which are due next year. Quick Ratio:It is similar to current ratio when inventories and current assets are excluded. Excluding inventories are important because all the other items covered in the calculation of current ratio is receivables or cash.Starbuckss quick ratio in the year 2009 was less than 100%,which means their current assets are less than the required current liabilities when the inventories are excluded. But after 2009 their quick ratio has improved andnow in the year 2015 it was better than Dunkin' Donuts. Leverage Ratios Starbucks Dunkin Donuts Starbucks Dunkin Donuts Debt Ratio= Total Liabilities/ Total Assets 45% 76% 38% 89% Times Interest Earned=EBIT/ Annual Interest Expense 15.48 1.6 61.08 3.23 Debt Ratio:It calculate liabilities / assets. It calculate the number of company's assets provided by debt than that of equity.The Starbucks Corporation had lower debt in 2015 than that of Dunkin' with is 38% v/s 89%, respectively. Time Interest Earned:It calculates the companys capability to pay its interest in a year. It calculate the interest which the organsation is required to pay against the operating income of the company (Suthan, n.d.).In 2015, the EBIT of Starbucks is 61.09 times whereas the EBIT of Dunkin Donuts is 3.23 times, which means Starbuck will be able to pay its interest 61.09 times whereas Dunkin Donuts will be able to pay its interest only 3.23 times. Turnover Ratios Starbucks Dunkin Donuts Starbucks Dunkin Donuts Asset Turnover= Net Sales/ Total Assets 1.75 0.17 1.62 0.20 Inventory Turnover=( Inventory/ COGS)*365 56.11 32.77 77.95 6.07 Asset Turnover:It processes the capacity of the assets of the company, which can be improvedbyreducing receivables, reducing inventory, or by increasing the sales by maintaining the assets of the company.In 2015, Starbucks asset turnover was higher, which means they are moreefficient than the Dunkin' brand' assets. Inventory Turnover:It calculates the number of times the inventories are used or are sold in a particularyear.It shows whether the company is using the inventory efficiently or not. When inventory turnover is higher than it shows that the company is using the inventory efficiently. In the year 2015, Starbucks inventory turnover was higher than that of Dunkin' Donuts.Starbucks has used their inventory almost 78 times and Dunkin Donuts has used it six times in a year (Vrontis Kogetsidis, 2008). As it is seen that Starbucks has the better current ratio, return on assets, times interest earned, debt ratio, inventories and asset turnover. As Dunkin' Donuts only has gross margin % higher whereas Starbuckshas all the other ratios higher therefore Starbuck Corporation is in much better positionthan that of Dunkin' Donuts. Growth Trends Assessment Dunkin Donuts 2011 2012 2013 2014 2015 Sales 628 658 714 749 789 Cost 124 144 156 158 160 Profits 504 514 558 591 641 Starbucks 2011 2012 2013 2014 2015 Sales 11700 13300 14892 16448 19163 Cost 4949 5813 6382 6859 7788 Profits 6751 7486 8510 9589 11375 From 2011 to 2015, Starbucks' sales are more than that of Dunkin' Donuts, the expenses of Starbuck increased by lower amount, and their profits have increased more which means Starbucks Corporation has better compounded annual growth rate than Dunkin' Brand. Although, Dunkin' Donuts sales and profits both have increased, but with that their costs have also increased much higher than the increase in sales and profit. The growth trend analysis also shows that Starbucks is better than Dunkin' Donuts. Conclusion Starbucks is a first-class business in which investors can freely have comfortable holding for many years. The stock of Starbucks has always been expensive, but then also it has delivered great returns for investors for the long term,achieving over 300% in last five years (Vrontis Kogetsidis, 2008). Whereas Dunkin' Brands is a rationally good business which is trading at a reasonable premium to the global market. Starbucks has a solid financial statement with higher coverage of interest expense of operating income and low amounts of the debt. Starbucks introduces new products like Oprah Tea Latte and it experiments with the new different sodas. As Starbucks operates 6,600 restaurants outside the western hemisphere, which means it has plenty of room to run in the emerging markets. References Aiello, G., Dickinson, G. (2014). Beyond authenticity: a visual-material analysis of locality in the global redesign of Starbucks stores. Visual Communication, 13(3), 303-321. https://dx.doi.org/10.1177/1470357214530054 Amiram, D., Bozanic, Z., Rouen, E. 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