Compare and Contrast, from Cholos to Surfers and My Latino Heart

The connections in these two stories is that in Mr. Lopez story is that a new boy is troubled because he is not sure on what organism a Mexican is all about, and that ties in with what is California image really nerve-racking to say. The next story Of Cholos and Surfers is a depiction of a young boy also, but he is having trouble trying to break out of the tradition of being a normal Mexican and do what he is more comfortable doing. In the story of My Latino Heart it is about a young teen who is having trouble finding what the Mexican culture is all about.He is not sure on how to fit in with his Mexican culture. The identity of his culture is hard for him to comprehend. He asked his mother What am I. His mother adjudicateed Youre a Mexican American He replied But what does that mean. He couldnt didnt see what his parents were trying to tell him. He did not think he was Mexican because he couldnt speak the Spanish. He wanted to have a answer to his question. He went to his A unt and asked her what it meant to be a Mexican American. His Aunt replied Youre you.Again he was not sure of what this meant? He didnt start another prospect to ask his Aunt again because she had died of alcoholism. When the family had a gathering he shied away from the younger parts of his family, and went to the adults to see what his Aunt was really wish well when she was alive and didnt drink. He could get a sense of what being a Mexican meant. Remembering the people that had died and to never forget them. To think of the good things about the mortal and to credit them for their influence they had in his life.Also in the lives that she had contact with long enough to make a difference in their lives. In the story Of Cholos and Surfers this teenage boy depicted by the author Jack Lopez, was a boy who lived in a Mexican family in the Los Angeles area. His family was a family who kept their roots, and never forgot where they came from. Also on that point were two sides of th e neighborhood were they grew up. You were either a cholo or a surfer. This young teenage boy had more of a interest in the surfer lifestyle. He wanted to be a surfer so bad that he wore clothes that the surfers would wear.His family would not allow to him to have his hair down to his ears. His friends in secondary high where Sheldon Cohen and Tom Gheridelli. They were both surfers. He naturally became good friends with them because they had the same interest. He wanted to buy a surfer magazine that cost xlv dollars. He would read Surfer Quarterly, and other surfer magazines with his friends at Sportsman Park under the bleachers. Him and his dad made an agreement that his dad would take him to get a magazine in Vermont.When he and his dad arrived in Vermont they got the magazine his father looked at him and said Is that it? . He didnt believe that his son was stern about getting the magazine. When his father got to the counter to pay for the magazine, the clerk and his dad were p oking fun at the magazine in Spanish. In these stories starting with My Latino Heart and the California myth of a glamorous life is this in this story, this young boy wants to know what it means to be a Latino/Mexican. He asks his Aunt, his father, and his mother on what it means to be Mexican.He has to go to through a journey and figure out on what this Mexican culture is all about. n the story Of Cholos and Surfers the similarities of this story to that of the California dream is this. This young boy wanted something more out of his life. He did not think that the life of a cholo was the correctly life for him. He wanted to do something that he thought would have purpose and that made sense to him, and something that would make him succeed. Even though his parents did not like the idea. He was willing to make that dream come true.

Albatross Anchor Proposal

Introduction work ones and technologies keep many variables planning, analysis, designing and innovations. albatross key needs to become more than effective with the opportunities and challenges in its operating environment. millstone operating system must be capable of producing role products ( founds) that are n demand within a time frame that is acceptable to the industry. Question sensation Based on the information presented in the scenario/case study discuss albatross Anchors matchedness in relation to (please address all items in the below list and fork out nurse for your conclusions) 1. court a) Cost or Production The first issue that needs to be addressed is how lots of the fabricating of the anchors could be outsourced? albatross, a vertically integrated political party has an antiquated and technology-deprived plant as well as non-compliant on safety and environmental issues. The factors that can make outsourcing desirable to Albatross Anchors are quality and sp eed. tonus, which is normalization of parts, supplier certification, and supplier involvement in design can improve the quality of supplied parts. (www. allbusiness. om) Speed of the supplier can pee the components quick, with adapt efficiency, flexibility and reliability then this is a time benefit for outsourcing. Albatross Anchors is lacking the action capabilities to output products in relation to the industry and clients demands. Outsourcing would be a benefit to the production of the customized and particularized anchors and a valuable asset to put into action and still be able to keep the warring edge. Albatross ability to produce the anchors on a larger scale with fewer, less expensive be needs to be implemented.Technology, specialized trained employees and bulk purchasing are factors that contribute to the economic scale. An investment funds funds in specific technological production techniques would give Albatross more of a hawkish utility over other anchor com panies. Increasing production efficiency would allow Albatross to edit out the companys expenses. Reduced expenses means more cash to spend on operational expansion. Experienced and a specialized skilled labor troops would improve Albatross Anchor because the ore skilled workforce the more capable workers would be to complete complex tasks. Albatross could hire more skilled labor force to reduce the workforce for their competitors. The advantage of a more highly skilled workforce is to improve the economies of scales because they could produce more anchors in less time. b) Economies of Scale The ability to grow and unfold would lead Albatross to obtain materials in bulk. Bulk purchasing would allow Albatross Anchor to benefit from a reduced fairish cost per unit. Economies of scale refers to the decreased per unit cost as output increases. More clearly, the initial investment of capital is diffused (spread) over an increasing outlet of units of output, and therefore, the margi nal cost of producing a good or service decreases as production increases. ) (www. uslaw. com) c) Cost of Raw Materials Sitting Idle in the Warehouse d) Cost of Finished Goods Sitting Idle in the Warehouse To stay competitive, Albatross needs to implement the Just-in-time account control system.This system identifies that a finished product should be produced just in time for livery and the raw materials should be delivered just in time for production. (www. referenceforbusiness. com) The Just-in-time system is used so materials and goods never bewilder idle for extended periods of time. If products or materials sit for long periods of time in warehouses, Albatross is wasting specie and valuable space. Inventory worry is another key factor for the success of Albatross Anchors. If Albatross wants to preserve an effective inventory of their materials, regular maintenance needs to be a priority.Inventory maintenance on a regular basis needs to 1) review all transportation altern atives and how this affects inventory and warehouse issues, 2) do periodic reviews of inventory, especially raw materials and finished products to en original that customers put ups are filled in a well-timed(a) fashion and 3) establish a review system for managing inventory to ensure that obsolete materials are sell of properly. Success of Albatross Anchors depends on a successful inventory management system. 2. Speed of manufacturing process from order to finished product.Albatross manufacturing speed needs to be improved in order to stay competitive in the industry. Albatross Anchors would benefit from the use of a computerized production scheduler, this scheduler creates schedules for the production down to the very second. exploitation flowcharts as well as a computer-based scheduler will take the guess work out of production and increase speed so to improve the lead time, reduce inventories, satisfy customers and still stay competitive. 3. flexibility in filling order(s)I mplementing a flexible manufacturing system would enhance and increase the speed of fulfilling the anchor orders of Albatross. The ability to easily make changes in the production of anchors would be a major strength for flexibility in volume and product. The manufacturing flexibility has three components 1) the flexibility to produce varieties of different sizes of anchors by using the kindred machines and producing the same anchors on different machines, 2) the ability to produce new sizes of anchors on the existing machines and 3) using the flexibility of the original machines to design changes in the anchors.The present time, Albatross has dedicated machinery which lacks flexibility. Utilizing an FMS would produce benefit as less waste, quicker tool change, better control of quality, efficient uses of machinery and labor force, reduction in inventory, faster shipping and receiving as well as reduction in expenses. 4. Technology Technology in manufacturing operations is a vita l part of the success of Albatross Anchors. Implementing automated and flexible manufacturing systems can aid the company to make collaborative decisions about the production of specific and different anchors.Applying current process, manufacturing, product and information technologies will benefit Albatross to fork out employees, suppliers and customers with the best output for their marine craft, whether large or small. 5. Capacity and facilities The current facility layout for Albatross is inefficient for several reasons. The current flows of work, materials, receiving/shipping are not grouped together. Albatross can reduce manufacturing cost and improve profitability by improving the plant layout.Product layout would be the most in effect(p) for Albatross Anchors. This type of layout is an assembly line and workers have their stations with tools, materials to complete the manufacturing process for the anchors. Once the anchors have been manufactured, shipping them to a warehou se for storage is the most effective way. Product layout has a sequential administration of manufacturing processes, a continuous mass production and assembly, special equipment, a fixed path for material handling, proportion for scheduling and efficiency.Implementing the product layout for Albatross will 1) minimize material movement, 2) minimize the cost of handling materials, 3) provide work flow in an orderly and efficient manner suitable for the repetitive operations of manufacturing anchors. 6. divine service to customers (what types of services would an anchor company provide to marine wholesalers? In any organization, service that is provided to customers must be held at a high standard. Exceptional service will generate a return of customer and profitability.Services that a marine wholesaler would look for would be databases for products and manufacturers, on-time delivery, cost effective and efficient supply solutions as well as understanding customers requirements. Tech nical expertise, alliances with strategic partners, logistics, supply drawstring management and specialized outsourcing provides strength to customer base. (www. anchormarinesupplies. com) Question Two There are many slipway that mushroom/bell anchors may be manufactured.Albatross Anchor is considering two new manufacturing processes (Process A and Process B) to reduce costs. Analysis of the information below will help determine which process has the lowest breakeven caput (this validates the process is more cost effective). For each process the following fixed costs and variable costs are identified below Anchor and Process Process A Process B cut-rate sale price per anchor $ 42. 0 $ 42. 00 Total Fixed cost $ 650,000. 00 $950,000. 00 Variable cost per anchor $ 36. 00 $ 29. 99 Based on the information in the table above complete the table below Anchor and Process Process A Process B (a) Fixed costs per anchor 3,900,000 11,409,500 (b) The total tour of anchors to attain 108,334 79,101 breakeven point for Process A and Process B c) Based on your calculations which Process (A or B) that you would recommend for adoption (you can select only one). Please make sure to explain how you arrived at your conclusion. I would recommend Process A for Albatross Anchors. The fixed costs per anchor are decline than the total fixed costs which would generate a profit for the company but, the number of anchors to manufacturer is greater. Producing a larger number of anchors is a benefit when Albatross purchases bulk materials for process A.If Albatross can produce a large number of anchors on a monthly basis with lower production expenses then the company will turn a profit. Process A has the factors that all management supervisors want, low costs with a high number of products coming off of the production floor. Conclusion Albatross Anchors has the abilities to mass produce anchors for small, medium and large marine vessels. Albatross Anchors is a company th at began in 1976 and has crowing rapidly.In order for the company to make a large profit, the plant needs to be updated with technology, expand the production of the anchors and be a more friendly manufacturing environment. Providing exceptional service to customers, updating the facility, technology, flexibility with fulfilment of orders, speed of the manufacturing process, cost of production and materials as well as utilizing inventory, Albatross can become competitive once again.Through enhancing the manufacturing processes, Albatross Anchors will be the leader in the manufacturing of anchors in the future. References Evans, J. (2005). Total Quality Management, Organization, and Strategy, (4th Ed. ). Thomson, South-Western. Wilson, Dennis R (2004, March 22). Outsourcing Production and Jobs Cost and benefits.. Retrieved May 10, 2011, from http//www. allbusiness. com www. uslaw. com www. anchormarinesupplies. com www. referenceforbusiness. com

Bmw and Peugeot

pic MBA 503 Managerial Decision Making Financial Analysis Professor Sameer Mustafa pic pic INVESTMENT IN AUTOMOBILE INDUSTRY BMW OR PEUGEOT Section F12N72 Team members Ranjan Saha Sam Khassawneh Elena Dugarova Executive Summary This describe provides a pecuniary epitome and assessment of two automobile companies Bayerische Motoren Werke (BMW Group) and PSA Peugeot Citroen. Methods of analysis include comparison and evaluation of financial ratios, financial SWOT, R&D and cash flow analyses. All calculations can be imbed in the appendices.Results of data study show that twain companies cave in strengths, weaknesses, threats and opportunities, but Peugeot has more strengths and opportunities in call of long-run prospective, than in BMW. After analyzing both companies we recommend to invest in Peugeot. Table of Content 1. macrocosm . .. 2. SOWT Analysis . 1. BMW Strengths 2. BMW Weaknesses . 3. BMW Opportunities 4. BMW Threats . 5. Peugeot Strengths .. 6. Peugeot Weaknesses 7.Peugeot Opportunities . 8. Peugeot Threats .. 3. Comparison of two companies 4. passports 5. Conclusion . 6. Appendices . 7. References .. 1. Introduction This hatch provides data on the financial mail service of two well-known automobile brands, BMW Group and PSA Peugeot Citroen, over 2009 and 2011. The purpose of the explanation is to evaluate the financial situation of these companies in grow out to make an investment decision in any of these companies.First part of the report provides brief description about the companies followed by the situation analysis of both companies. Third part of the report illustrates the comparison followed by recommendation and conclusion. The recommendation will be made based on the outlet of the situation analysis. BMW Group was founded in Germany in 1917. This is unmatchable of the most prospering automobile, motorcycle, and engine manufacturing companies. BMW Group has triplet one of the finest brands in this pains BMW, MINI and R olls-Royce (Annual report, 2011, p. 3).The other telephoner PSA Peugeot Citroen was founded in Paris in 1976. PSA Peugeot Citroen offers automobiles and motorcycles worldwide (PSA Peugeot Citroen, 2012). Nowadays this automobile high society is supplying its products to China, Latin America, Russia and atomic number 63 (Annual report, 2011, p. 4). 2. Situation analysis for BMW and Peugeot The following section will discuss the financial strengths, weaknesses, threats and opportunities of both companies. 2. 1 Strengths of BMW 2. 1. 1 Sustainability of the company Maintaining the positiveness is vital for any firm in order to be remaining sustainable.From the favorableness test, it is apparent that the company improved its profitability over the year 2009 to 2011. Gross profitability step-upd significantly from 13. 96% in 2009 to 24. 38% in 2010 and continued to climb up to 27. 79 by the end of 2011. 2. 1. 2 Excellent creditworthiness BMW has been assigned credit rating status as stable by both sinisters (rating A2) and Standard & Poor (rating A) which indicates the firms sound solvency position to debt (www. bmwgroup. com). In addition, their interest uphold ratio provides rattling positive indication as it append from 3. 36 in 2009 to 9. 54 in 2011.By utilizing this status company will be able to string voltage creditor with lower interest rate. Therefore, their profitability will increase overdue to the lower interest expending. 2. 1. 3 Increase investment in question and development Investment in research and development (R&D) is significantly important in order to interest competitive advantage and continue sustainable growth. BMW is committed to in R&D to meet stream and future adopt. Their expenditure rose up by 13. 3%? to 2,773 one million million from 2010 to 2011. One of the most advantages of BMW is productive production (Annual report BMW, 2011).They invested extensively in the past 3 years towards improving the environment and l essening of the CO2 emissions by 30 %. They also introduced fuel efficient product bed such as BMW i models in order to meet the current take on. Moreover, BMW is searching for alternative energy solution by electrification and utilizing solar energy in their future product range. By introducing new product line BMW could impinge on competitive advantage over it competitors by attracting environmental friendly customers which would maximize their profit as well as their type as innovative company. 2. 1. Commitment to Employees training The company values its human resources and invests in attracting and training skilled workforce to boost the quality of its products by reducing error rate, waste in production. It will also help BMW to strengthen customer relation as trained employees would able to run with confident by utilizing their knowledge and skills which will increase customer satisfaction. Moreover, due to the training employees will garner authorisation to communicat e more clearly with focal point which will improve the relationship between employee and concern.As a result disputes between bray union and BMW will be reduced (Bloom & Lafleur, n. d. pp 5 9) In 2011 expenditure on basic and further training rose sharply by 37. 4% to 246 million (Annual report BMW, 2011). 2. 1. 5 Social responsibility BMW signed the UN Global Compact and issued a Joint Declaration on Human Rights and Working Conditions which demonstrates that BMW complies with the fundamental working standards of the International Labor Organization (Annual Report BMW, 2011). It also indicates that BMW is a socially responsible firm which will have a positive impact on the image of the company (Murillo & Martinek, 2009).BMWs image as a good citizen would help to attract potential investors, creditors and customers who supervise about social responsibility of any company. 2. 2 Weaknesses BMW 2. 2. 1Operating efficiency Receivable turnover has sharply disintegrationd from 55. 0 4 in 2009 to 15. 93 in 2011. Inventory turnover has also declined from 14. 50 in 2010 to 5. 43 in 2011. twain ratios are below the exertion norm, which indicates that management was not efficient enough to collect its receivables. This also indicates that thoroughgoing(a) sales and foodstuffing department didnt perform well canvas to the competitors to increase the sales. . 2. 2 Sharp decline in sales In 2011 BMWs sales dropped by 37 % in the US which is the largest food grocery store outside Europe. If it continues to decline, BMW may lose market administer significantly which would have a very forbid impact on the profitability as well as it would be a threat to the sustainability of the company. 2. 2. 3 Liquidity BMWs ability to meet the short-term financial obligation is low comparing to the industry norm. If BMW dont pay attention to increase the liquidity, it could turn into a threat from weakness. 2. 2. 4Market shareDecreasing orbiculate market share for BMW. It go es down from 2. 89% in 2005 to 2. 45% in 2010. (www. statista. com). This shows that demand BMWs cars are diminish which is a bad sign for company. 2. 3 Opportunities BMW 2. 3. 1 Utilizing the exist technology to produce more environmental friendly products As this issue became an important for the society. (BMW Annual report, 2011, p. 19) states, In September 2011, SGL Automotive Carbon Fibers a joint venture of the BMW Group and the SGL Group opened a new state-of-the-art carbon lineament manufacturing appoint in Moses Lake, USA.The facility plays a major strategic role in the manufacture of ultra-lightweight carbon- part strengthened plastics (CFRP), which will be used extensively in the BMW i vehicles to be launched by the BMW Group from 2013 forth. BMW group is already having this idea, but they could get more profit if they increase the art carbon fiber plants. 2. 3. 2 Growth in Asia Asian countries are encouraging the foreign investment and they have a cheap labor. In addition, the cost of capital is cheaper than Europe. These factors bear to less cost of production and high revenue.In order to gain this benefit BMW adopted Completely Knocked Down (CKD) assembly to manufacture automobiles with partners in six locations such as Thailand, Malaysia, Russia, Egypt, Indonesia and India (www. bmwgroup. com ). This would help BMW to attract the large Asian market as well as increase market share in the region. 2. 3. 3 Increasing demand on sports car BMW is already produced a few sport cars and they have to increase the number of sport cars and promote them to championships and customers who like this type of cars. In July 2011,BMWpulled the covers off of theBMW M3 DTM Concept Car, a vehicle that was to be the basis of the actual racer that will debate in the 2012 DTM season (www. topspeed. com). 2. 3 Threats BMW 2. 3. 1 Euro district crisis Current economic slowdown along with monarch euro zone crisis may tremendously hurt the company as sales are declining in Europe. It competency pose even greater threat if bigger economies like Italy and Spain has to default like Greece which will lead Europe into a recession ( universe of discourse Economic Forum, 2012).It would not only affect BMWs sales in Europe but also rest of the world because recession in the EU will have adverse effect in the worlds economy (International Monetary fund, 2012). 2. 3. 2 Changes in disposition Recent trend in the usage of car, where wealthy large number prefer cheaper/affordable cars instead of deluxe car (24/7 Wall Street, 2012). Due to this trend, BMW as a luxurious car manufacturer efficacy lose sales revenue and market share. Ultimately, it would have negative impact on the sustainability of the company. 2. . 3 Disputes with ram union Labour union in Germany is very strong where firing employee is very costly (Global engagement Index, 2012). Any dispute with the labour union could have significantly negative impact on the furrow operati on as union could go for strike which will break the whole supply chain. 2. 4 PSA Peugeot Citroen 2. 4. 1 Strengths Peugeot 2. 4. 2 Sustainability of the company Companys overall profitability significantly change magnitude from very negative profitability in 2009(gross profit on sale -3. 0% and excrete on sale -5%) to a positive profitability in 2011 (gross profit on sale 17. 10% and return on sales 1. 50%), which demonstrates managements extraordinary execution to bring the company linchpin into a sustainable position. 2. 4. 3 Operating Efficiency Over the years from 2009 to 2011 Peugeot demonstrated continuous rise of its operating efficiency as management was improved efficiency to collect receivables (receivable turnover 20. 63 in 2009 and 26. 98) as well as increased inventory turnover (7. 14 in 2009 and 9. 06 in 2011) which is higher than industry norm (6. 4).Though receivables turnover is lower than industry norm (34), Peugeots continuous improvement indicates that mana gement is paying attention to improve in order to produce the capacity of operating assets. 2. 4. 4 alter disdain departments Diversification in the business segment reduces the endangerment of failure as it reduces companys dependency on one single segment (The Economics Times, 2012) The Groups operations are organized in five main business segments the Automotive Division, the Automotive Equipment Division, the Transportation & Logistics Division, the Finance Division and other businesses. These segments increased revenue by 6. % from 56061million in 2010 till 59912 million in 2011 (Annual report BMW, 2011). Due to the diversified business segments Peugeot will be able to offset of one segments loss from other segments profit. 2. 4. 5 Investment in research and development To meet the current and future demand Peugeot invest heavily in research and development. This French auto manufacturer has maintained its R reckon at 2152 million in 2011, or 3. 6% of revenue in order to secure sustainability in the future (www. peugeot. com). In 2011, PSA Peugeot Citroen was the most active patent filer in France with 1,237 patents in all.This performance demonstrates the positive outcome of its exceptional investment in R. tender patents would enhance the innovative product line which would differentiate Peugeots product from its competitors in order to gain competitive advantage. This indicates better future for Peugeot. 2. 4. 6 Affordable charge with good quality PSA Peugeot Citroen offers high quality distinctive cars for affordable price and specifically targets middle class (annual presentation 2010 PSA Peugeot Citroen). It would help Peugeot to gain market share accelerated in the emerging market such as China, Brazil and India where the number of middle class is very large.Higher market share in the emerging markets would strengthen Peugeots position in the global automotive industry. 2. 5 Weaknesses Peugeot 2. 5. 1 citationworthiness Recently, Peugeot s credit rating has been downgraded from stable to negative by both transnational credit rating agency Standard & Poor and Moodys which would negative impact on creditors confidence. As a result, their interest rate will increase as creditors competency feel uncertain to invest (Mustafa, 2012, Class lecture). However, French governments 7b credit guarantee for Peugeot might help to maintain creditors confidence which will keep the interest expense stable. . 5. 2 Declining sales in Europe Peugeots sales declined by 5. 75% in 2010 in Europe, its largest market and it remained stable in 2011. Moreover, sales dropped further by 10. 8% by the end of September 2012 (European Automobile Manufacturers Association, 2012) It indicates a potential threat for Peugeot to losing market share in Europe, if it continues further. However, increase sales outside Europe 39% in 2011 compare to 32% in 2010 (Annual Report Peugeot, 2011) could help Peugeot to maintain market share in the global automot ive industry. 2. 5. 3 Liquidity Since 2009 to 2011 Peugeots liquidity has declined from 1. 07 to 1. 4 which even lower than the industry norm. falloff in liquidity could have negative impact on the operating activities as firm might run out of cash to meet short term obligations. 2. 6 Threats Peugeot 2. 6. 1 Unionized labour market French labour market is strongly unionized which give labour union a very strong bargaining power. The recent announcement by Peugeot to cut 8000 business concerns in their French plant (BBC News, 2012) might create disputes with the union. Therefore, there is a huge risk that union could go for strike due to the dispute with Peugeot which might disrupt their supply chain and cost a considerable amount for the company.However, French governments announcement to provide credit guarantee in exchange to keep these jobs (The New York Times, 2012) would help Peugeot to avoid dispute with the union. 2. 6. 2 Euro zone crisis Economic downturn and euro zone cri sis had a very negative impact on Peugeots sales in Europe as the market demand declined sharply which resulted a decline in sales by 5% in 2010 and. If it continues may be the sales will drop further. 2. 6. 3 Competition from other producers Increasing market share gained by other affordable car producers such as Hyundai could hurt Peugeot. There is a risk that French firm could lose market share. . 7 Opportunities Peugeot 2. 7. 1 New Trend Peugeot would be able to attract customers with high income people due to the new trend as more rich people spoil affordable price car (24/7 Wall Street, 2012) This is a very positive indicator for Peugeot to increase market share by attracting this large segments. 2. 7. 2 Market shift to globalization Peugeot is focusing on specific markets in the world. Since globalization is facilitating world trade, Peugeot would benefit significantly from its expansion to the emerging markets in Asia, Latin America and kernel East (The New York Times, 201 2). . 7. 3 Increase the demand of hybrid galvanising cars PSA Peugeot has a joint venter with GM to produce hybrid cars. The joint arrangement understanding was signed on 25 October 2011. The Group is committed to providing total capital of 63 million, of which 13 million had been paid as of 31 December 2011. Registered in the Netherlands. (Peugeot annual report 2011) 3. Comparison of BMW and Peugeot This section compares and contrasts of both company in order to identify the better option for investment. 3. 1 Sustainability Both BMW and Peugeot improved their gross profit.BMW is around 10% more profitable in terms of gross profit ratio compare to Peugeot. However, Peugeot had higher return on sales which indicates that management of Peugeot was more capable to control its changeable cost. Peugeot was also able to generate higher return from its asset compare to BMW as well as industry norm this demonstrates the managements ability to utilize its asset in order maintain sustainab le profit. 3. 2 Management efficiency Management efficiency is lower than the industry norm for both companies. However, Peugeots management is more efficient than BMW in collecting receivables.It is also more efficient in inventory turnover, which indicates that Peugeots sales, and marketing department is performing better than BMW. 3. 3 Diversified business segments Peugeots business segments is more diversified that BMW this would help Peugeot to reduce the risk because it can cover the loss of one segment from another segments profit. 3. 4 Market share Even though BMW has higher market share in certain market. However, it has declined gradually over the past several years while Peugeot has increased market share in the emerging markets such as China, Russia, India and Latin America. This indicates better future for Peugeot. . 5 Credit ratings BMWs credit ratings are better than Peugeot because BMWs credit ratings have been improved from negative to stable. On the other hand, Peu geots credit ratings have been downgraded in 2012 (Moodys 2012) As a result Peugeots borrowing cost might increase while BMW will benefit from the lower interest rates. 3. 6 Interest coverage ratio BMWs interest cover ability is considerably better than Peugeot, which is 9. 54 and 1. 68 respectively. Due to higher interest coverage ratio it will create more confidence in BMW, which will reduce interest expense. 3. 7 Liquidity Liquidity for both companies is below industry average.However, Peugeot has higher liquidity than BMW. This indicates that Peugeot has better ability to cover the short-term obligations. 3. 8 New trend bespeak for Peugeot cars would be higher than BMW due to the changes in trend and customers preferences as wealthy people are buying cheaper cars. However, increasing demand for sports car would provide benefit to BMW. 3. 9 Euro zone crisis Euro zone crisis has significantly affected on both companies. However, Peugeot has increased sales outside Europe from 32% in 2010 to 39% in 2011 while BMW lost 37% sales in 2011 in the US which is their biggest market.Due to the increasing sales outside Europe, Peugeot will be able to maintain overall sales revenue though there is decline in sales revenue in the European market. 3. 10 Political risk Political risk could negatively effect on both companies. However, BMW is more vulnerable in the Middle Eastern countries which are one of their biggest market due to Arab spring. 3. 11 R Both companies invested heavily in R but Peugeot was able to generate more patents than BMW. In 2011 Peugeot had in total 1237 patents (Annual Report 2011 Peugeot).Higher power of invention would provide competitive advantage to Peugeot as it will be able to meet the consumers demand. 4. Recommendation The above analysis illustrates that both companies has strengths and weaknesses. However, Peugeot has more strength and opportunities than BMW. Peugeots strengths and opportunities are better sustainability, higher managem ent efficiency, diversified business segments, better match with new trend and increasing market share in the emerging market. These strengths demonstrate that investment in Peugeot would be a better choice as the companys future seems to be stronger and more sustainable than BMW.These also indicate that investment in Peugeot would be less risky. Therefore, we recommend investing in Peugeot. 5. Conclusion In conclusion, different factors were investigated in order to come up with right decision regarding the investment in BMW or Peugeot. Some of these factors are related to profitability, efficiency, debt, R & D and market position. Some other factors are related to their products quality and customer satisfaction. All of these factors were analyzed for three years starting from 2009 to 2011. In addition, the SWOT analysis played an important role in our decision-making.However, after analyzing both companies situation and looking at their strengths and opportunities, Peugeot was th e best choice to invest in. References BBC News (2012) Peugeot Citroen plans 8000 job cuts. Available at http//www. bbc. co. uk/news/business-18808662 accessed 11 November 2012 Bloom, M. R. & Lafleur, B. (n. d. ) Turning Skills into Profit Economic Benefit of Workplace commandment Program. The Conference Board. Available at http//www. conferenceboard. ca/Libraries/EDUC_PUBLIC/Skills_Profits. sflb accessed 10 November 2012 Murillo, R. H. & Martinek,C. J. (2009) Corporate Social Responsibility Can Be Profitable.The Regional Economist. Available at http//research. stlouisfed. org/publications/regional/09/04/socialresponsibility. pdf accessed 8 November 2012 The Economics Times (2012) Nine Diversified Companies ar these firm attractive investment proposition. Available at http//economictimes. indiatimes. com/features/slideshows/et-slideshows-made-here/nine-diversified-companies-are-these-firms-attractive-investment-propositions/nine-diversified-companies-are-these-firms-attractive-inv estment-propositions/quickiearticleshow/7390833. cms accessed 5November 2012 The New York Times (2012) France to back Peugeot With 7 one thousand million euro in credit.Available at http//www. nytimes. com/2012/10/24/business/global/france-to-back-peugeot-with-7-billion-euros-in-credit-guarantees. html? _r=0 accessed 11 November 2012 World Economic Forum (2012) Global Competitiveness Report. Available at http//www3. weforum. org/docs/WEF_GCR_Report_2011-12. pdf accessed 25 October 2012 International Monetary Fund (2012) Debt Crisis, as it happened. Available at http//www. telegraph. co. uk/finance/debt-crisis-live/9681567/Debt-crisis-as-it-happened-November-16-2012. html accessed 16 November 2012 Appendices pic ensure 1 Source pic Figure 2 Source PSA Peugeot Citroen 2011 pic

Help Me to Help Myself

The phrase Help me to suffice myself portrays the small frys sensitivity to do things him/herself with the military service of his/her carers, peers and people with whom s/he comes in contact with. Maria Montessori was the hotshot to first recognize this direct of the baby bird and went further to research on it. As a rule, however, we do not respect baby birdren. We judge to gouge them to follow us with come on regard to their special needs. We are overbearing with them, and above all, rude and thence we expect them to be submissive and well-behaved, knowing all the time how strong is their instinct of imitation and how abject their faith in and admiration of us.They ordain imitate us in any case. Let us treat them, therefore, with all the kindness, which we would wish to friend to develop in them. -(Montessori, 1965) Due to time and loving constraints, we adults a great deal ignore our kidrens individuality and abilities. We need to assistance the electric shaver t o help him/herself to become more independent. A child collars from the time s/he is born. The more the experiences the more the child learns and it is the adults vocation to provide the means for these experiences. The childs real challenge for independence starts at about age of oneness, when s/he starts walking.The child will just walk up and d throw with no motive in his/her sound judgement scarcely to just master the new achievement. The primary carer helps the child just by providing a safer and bear on environment for him/her without any interference. The greater the effort, the greater is the childs pleasure and worse is any interruption. Things done impromptu by children are done for the formation of man. The nurse must(prenominal) stay near them and watch them, be ready to help them if necessary. Maria Montessori (1946, pg.117-118)Freddie is in a setting where it has been set up, keeping in mind the needs of the child. He is free to exact any activity he likes and he knows that he has to keep the activity, which he was playing with, back in the right place. He gets the help when needed. Freedom brings out independence. The more the child is allowed to choose what s/he desires to do the more the child becomes confident and elicit in doing things him/her self. It brings in the child self esteem, sense of belonging to the society and the child will be motivated to behave in an accept satisfactory manner.The instructor is close to Freddie so that she crowd out help him if he needs it and observes him too without interfering and respecting his desire to do the spillage launch. It is by helping the child the help himself we render him that help which will make him independent. To teach the child to brush his hair, we must give him a small mirror, a small comb and a suitable brush. If we want the child to was his hands we must provide him with things fit for his size. He will rejoice being able to do things. He will do what he does with enthu siasm. Thus the child is introduced into a form of life, which is necessary for him.(Maria Montessori, 1989 pg. 10)Montessori believed that education starts from birth. She believed that a child develops differently at each stage of his/her life. The first ontogenyal stage being The absorbent mind(0-6 years), the entropy Childhood(6-12 years) and the third Adolescence(12-18 years). During the first three years, the childs actions are guided by an inner drive, horme, where the child learns un certainly through his/her actions. The adult helps the child by providing an environment, which is safe, stimulating so that the child learns through exploration, purpose and discovery.The adult should stay close to the child and observe rather than interfering or restricting a child to one place. As the child grows, the childs actions are more of intentional/conscious mind. Horme is replaced by will. Freddies will is reflected when he uses the button frame. As he was given the exemption to c hoose the activity and use it, Freddie displays the characteristics of a normalised child. Freddie is responsible as he has vomit outside the puzzle in the right place and respects others as he waits for Jonnie to finish the button frame before he can use it.Montessori not only suggested that license forms the basis of independence, but likewise encouraged liberty with limitations. The ground rules in a nursery setting lay down these limitations. The child is expected to behave in a manner that shows respect to his/her peers, and to the environment. Freddie is given the freedom to chose an activity but he also knows the ground rules, so he waits for his turn, returns the activity, tucks his chair in. These actions not only show his social development but also his sensitivity to order.There is consistency and predictability in his environment. Freddie knows that he has a teacher to read for help when he needs it. He knows where he can find the activity he wants to do. He also kn ows what is expected from him. The teachers non-interference in Freddies choice of the button frame makes him life trusted to be able to do things for himself. Freedom of movement and physical activity is an important chance in a growing child. A child becomes independent with exploration and exploration requires movement. Miss J takes Freddie out in the garden when he desires to do so.He waits patiently for his other two friends to get ready. The teacher plays an important role in helping the child. According to M. Montessori(1946, pg. 34), The teacher must be a servant to personality, show respect and care, and be humble. Her plan must be to nurture life, which is a force, a force full of wisdom and power. The teacher must be facilitator and show respect to all children. She should put in efforts to provide the children with an environment that is motivating, stimulating to them. The teacher should be a silent percipient and help the child only when the child needs it.In Fred dies case the teacher is a silent observer and helps Freddie when he wants to and also allows easy access to the garden. Montessori emphasised that a easy environment helps the child learn independently at his/her own pace. A favourable environment meant that the physical environment of the setting should be such that the child can see things at her/his level that acts as help in the development of the child not a hindrance. Montessoris idea of favourable environment was to provide children with child coat furniture, homely, beautiful, neat, tidy and organised environment.If a child is given a chair his/her size which can be moved freely by him/her, s/he is motivated to do more activities rather than seance on a stationary chair. Freddie could pick up the button frame on his own as it was kept in a cupboard his size. This nurtures independence. According to Standing (1984, p. 265) What Montessori has done is this realising the peculiarly absorbent nature of the childs mind, she h as prepared for him a special environment and then, placing the child within it, has given him freedom to live in it, absorbing what he finds there.Montessori designed materials after observing a childs developmental needs. She also designed some activities of everyday living that boost a childs independence and bring in him/her a sense of belonging to the society s/he lives in. Freddie is doing the button frame that helps him to be more independent while dressing himself up. The button frame is only one of the many activities of everyday living designed by M. Montessori that helps the child to become more independent. These activities helped children to be able to do things for themselves and also helped them to be sociable, considerate and respect others.Development is the construction of personality, reached by effort and ones own experiences it is the long road which every child must travel to attain due date-Montessori, 2001a, p 187. In order for a child to develop, s/he must be provided with opportunities. These opportunities can be provided to child by creating an environment that attracts and motivates the child. It is necessary to understand that each child learns at his/her own pace. The favourable environment offers the child freedom of movement, freedom to do, freedom to do nothing, predictability, consistency.This freedom comes with limitations so that a child knows that s/he is responsible for his/her own actions. Self-discipline and obedience are the results of such freedom with limitations. Montessori believed that the child works to construct a man. And in this construction, the child requires a crew of support from his/her environment. The child needs guidance and not a person who will do things for the child. After a lot of observations on children and a research on those observations, Montessori has tried to create a system that is the most favourable for a childs development, both physical and mental.She has truly supported the childs se ntence- help me to help myself. She designed materials for children which she thought would develop the childs personality as a whole. both(prenominal) physical and mental activities are equally important. A child has to be given the freedom to choose what s/he wants to do rather than being directed to do a specific thing. She prize the childs needs and believed in letting the children to be. It is very easy for us to do things for the child not realising that this acts as a hindrance in a childs development.

Two Poems of Emily Dickinson and Mary Oliver

Comparison and Contrast attempt between two Poems of Emily Dickinson and bloody shame Oliver Emily Elizabeth Dickinson, or called Emily Dickinson for short (1830 1886) and Mary Oliver (1935), argon the two poets who contri neverthelessed great works of art to American society during the late nineteenth and early twentieth century.In spite of some(prenominal) char dissembleeristics that can be found in both Emily Dickinson and Mary Oliver verses, there are undeniably things that check them from one a nonher, although outside both are very famous poets of the poems that they wrote at that time, but actually inside, all poem that they bring the reviewer has a different meaning and quite deep in commentator hearts. For example, as we read the poem Alligator Poem by Mary Oliver poem and the poem A Bird Came bulge the Walk by Emily Dickinson, we can clearly bewitch that both poets have borrowed the images of the razzingie to express the deeply of each verse, and to add lively f or their poem.This mode is called incarnation, is one of the main rules by which the poet utilise to hold open a poem vividly. Although both poets use personification methods in both poems, much(prenominal) as acceptance the images of the bird to write a poem as an example, but actually the use of such methods have different deeply meaning in the two poems. And that is the topic I write this essay, what are the similarities and differences between how they use images of birds to express their verses? How they have been very successful in using the personification methods to write a poem completely and deeply.First of all, about two poets, they are very famous poet and superior in the field of modern poems in the late nineteenth and early twentieth century, both began make-up numbers when they were very young. (Write something about Emily Dickinson Early Life and Career). Mary Oliver, since she started write about modern poetry, she had a lot of work that very successful a nd famous all over the world such as House of Light, Winter Hours Prose, Prose Poems, and Poems, Why I Wake Early, and and many other works.One of the most famous works is New and Selected Poems Volumne One, this work brought to her a great success on the modern way of writing poems, it was also the cause of the birth New and Selected Poems Volume Two. (Write something about Famous Works of Emily Dickinson). In the poem Aligator Poem in New and Selected Poems Volumne One of Mary Oliver, personification method is a main method that she utilize the most to write this poem.As you read the whole poem, you can clearly see the bird that she wants to talk about is tanding in the tops of the trees, whistling any warning, crashing toward to her, its tail failing, slashing the grass, its cradle determine mouth gaping, then rimming with teeth, these actions are not the actions of a bird, these are human being actions, she used personification to behave the bird is a person, or a friend , she pretended that she was walking on the street and saw the bird, but she thought that bird is not a normal bird because she could see its eye was trying to mark her something.And of course she couldnt comprehend bird language, or the bird couldnt tell her what is going on with her in human language. So the only way that the bird could do is action, I do agree that human cannot understand the birds language, but I do surely agree that human can understand the bird action. because finally she did understand what the bird was trying to tell her, she understood that something is really bad will regain to her in the future.And yes, she fell, but thanks to the birds warning, she leaped aside and fell, that is why she did not die. Then in the end, she verbalize that this is not a poem about foolishness, but about how she rose from the ground and saw the world as if for the second time which means she is not a person accepts to failure, she will face it and will impact to stand up every time she falls. In other words, all those things above, including her imagination of a bird is a human, are a method to help she continue to stand up each failure, and see the world again.On the other hand, in the poem A Bird Came down the Walk of Emily Dickinson, personification method is also one of the methods that Emily Dickinson used the most to write this poem like I said above in the instruction and in the poem Aligator Poem, this is also the similarity of the two poems, borrowing the images of bird to express their poems. She describes the simple jazz of watching a bird came down the walk, but specially is the bird didnt aware that it was being watched by the poet.The poet depicts the bird and its actions through and throughout the whole poem such as hopped sidewise to the wall to let a beetle pass, glanced with rapid eyes, stirred his velvet head, unrolled his feathers, rowed him softer home, these actions provides the readers with vivid tomography when they read the poetry because Emily Dickinson was very meticulous to describe the birds actions as the actions of human. The poem makes the reader feel and experience very slowly the simple aspects of reputation but very beautiful.She creates the mood of the poem in the period of very simple activities of he bird but bring more excitement to the reader. The showtime ternary stanzas describe very reasonable to replace the sequence of operations of a bird that could occur in the order when watching many kinds of bird. The last two stanzas describe a very natural act of a bird when she provided a crumb. The poem is divided into two parts, the first three stanzas are the first part to describe the mood and tone of the poem by listing the activities of the bird and the rest of the poetry is the second part describes the effect of human interaction on the bird.In the final stanza, a method that Emily Dickinson was used to write this poem is metaphor method this is a difference between the two po ems of Emily Dickinson and Mary Oliver, comparing the birds smoothness in flight to oars splitting the maritime and butterflies leaping from banks. She used metaphor method to compare the birds smoothness in flight to oars splitting the ocean and butterflies leaping from banks.After all, the main goal of this poem is to show the simplistic beauty of nature through words, but this scene will be lost forever if people continue to destroy the nature such as the effect of human interaction on the bird as an example in this poem. To sum of, the big difference between the two poems is the meaning of borrowing the images of birds to tell the unbeaten in the poem Poem Aligator and to describe the beauty of nature in the poem A Bird Came down the Walk.In conclusion, reading the poems of the two great poets Emily Dickinson and Mary Oliver is one of the best ways to visit and study knowledge although both poets have similar ideas and different ways to bring knowledge to the reader through wo rds, as long as a person or a student automatic to work hard and improve, he/she will be able to analyze things in life, to know how to catch their own difficulties.

Free Market and Market Character Essay

The main difficulty in tackling this oppugn is squaring in vitiate means with chaste ends, (Wilkinson, 2008). honorable temperament, or virtue, is a means to achieving honorable ends. As the socioeconomic structure changes so do the means of achieving righteous ends. necessitous marts flourishes along fast socioeconomic change, and therefore merchandise cultures are nigh likely to fit a mismatch mingled with the traits of good character valued by the culture and the traits of character in truth effective as means within the existing structure for achieving moral ends.Due to the indifference of severally individual, perspectives vary according to the superannuated standards of our lagging moral culture while the system simultaneously delivers moral goods more effectively than at both time in human history. So, the correct answer to the question is Yes, commercialize societies corrode traditional moral norms, although this corrosion is an integral part of moral progress . John gray in his learn of the effect of poverty-stricken market on market character suggests comparison of veridical alternatives and understanding how contrary systems promote divergent types of human character.His definition of a free market sidelines the view that free markets emerge spontaneously when state interference in the economy is removed, or simply free markets the absence of government. Instead markets in his view depend on systems of law to decide what smoke be traded as a commodity and what cannot. Therefore, free markets not only contain some moral restraints which are policed by the government, but excessively rely on property rights mostly created and enforced by the government.The free market as in the past mid-Victorian England came about not because the state withdrew from the economy, but sort of because state power was used to privatize land that had been under various forms of common sustainership, or not owned at all. Historically, it is evident t hat economic systems are living things, and rarely do free markets live according to the established economic models except in economics textbooks where markets are self-regulating.On the contrary, the relation between economics and ethics can be seen more clearly in the light that traits of character most rewarded by free markets are entrepreneurial boldness, the willingness to speculate and gamble, and the ability to seize new opportunities. In wander to survive and prosper in free market economies adept has to embrace such skills and risk-taking actions as retooling ones skills, relocating and switching careers.According to Adam Smith, one of the originators of free-market economics, markets cannot be confined to the marketplace because free markets admit a high degree of mobility and an ingrained readiness to exit from relationships that are no longer utile a direct reflection of the humanity in our lives. Adams fear and Grays perception matter the to the lowest degree whe n it has been proved that though free markets reward some moral traits, they also undermine others. The moral hazards of free markets do not mean that other economic systems are any better.Therefore, no economic system can fully attend to every aspect of moral character instead all rely on motives that are morally questionable. A sensible combination cannot be achieved by applying an ideal model of how the economy should work. Different mixes will be best in different historical contexts. But one thing is clear a modern market economy cannot do without a measure of moral corrosion. Tyler (2008) is of the opinion that free markets operate like amplifiers the abundance placed in our disposal tends to boost and accentuate whatever character tendencies we already possess.He believes that other features of the free market also encourage the better angels of our nature and discourage our destructive impulses thus allowing people to realize a range of good intentions. Market-friendly socie ties are attractive to immigrants. Transparency International annually issues an index of the most debauch places in the world to do business. The countries topping last years list were Iraq, Myanmar, and Somalia, while the least corrupt countries were Denmark, Finland, and New Zealand, all of which have active market economies.In relation to such a report, it is obvious that the rise of markets and the decline of corruption are part of a common and consistent go of progress. Markets purpose to create a consensus around certain moral expectations that agreements should be binding, that honesty is expected in transactions, and that economic actors are held accountable for broken promises. However not all markets are free because corrupt markets do not meet the above standards, as a similarly in a variety of other human imperfections.By making more social activity of every kind possible, the market creates greater scope for these vices. As observers of economic life, many of us foc us too often on these sorts of negative examples. But we need to take a wider view of human progress. In the midst of our own long era of economic growth and expansion, it is obvious that the positive features of markets decisively outweigh their negative features. This is accredited not only because of the practical and material benefits of wealth installation but because of its beneficial effect on personal morality as well.Irrespective of the side taken by each market analyst, a common ground runs through in the aspects of moral and social issues. In his judgment, Globalization, leads not only to the creation and spread of wealth but to ethical outcomes and to better moral character among its participants. In contrast Hymowitz believes that market economies weaken the cultural conspiracy in three powerful ways. First, they introduce novelty, which tests established cultural habits and moral verities. Second, they provoke individual desire in ways that can easily weaken the self -discipline and moral obligations that make free markets flourish.And lastly, as they advance, market economies become more likely to treat the yet-to-be-socialized child as an autonomous, adult-like actor rather than as an undeveloped dependent. On the hand, subscribes to the liberal school of thought as pioneered by Adam Smith or Milton Friedman. According to this school of thought, freedom of the individual is the highest aim, and the ultimate test of a ones character is his ability to pursue his own chosen goals in life without infringing upon the freedom of others pursuit of their own goals.From this perspective, free economic activity among individuals, corporations, and nations boosts such desirable qualities as trust, honesty, and hard work. another(prenominal) panelists on the same big question, has each faithfully attested to his or her view but at one point came to the conclusion that the answer to this question depends on how one conceives the good life prescribing tha t at all times we should ensure to take a wider view of human progress. ? References Jagdish, Bhagwati.Does the Free Market use up Moral Character? London. 2008 December 3, 2008. 3 March 2009 http//www. templeton. org/market/PDF/Cowen. pdf Tyler, Cowen. Does the Free Market Corrode Moral Character? London. 2008 December 3, 2008. 3 March 2009 http//www. templeton. org/market/PDF/ Bhagwati. pdf Will, Wilkinson. Does the Free Market Corrode Moral Character, London. 2008 October 6, 2008. 3 March 2009 http//www. willwilkinson. net/flybottle/2008/10/06/does-the-free- market-corrode-moral-character/John, Templeton Foundation. Supporting Science-Investing in the Big Questions An interview with leading scientists, scholars, and public figures, Does the Free Market Corrode Moral Character. 3 December 2008. 3 March 2009 http//www. templeton. org/market/ Lockwood, Anne Turnbaugh. Community collaboration and Social Capital An Interview with Gary G. Wehlage. Leaders for Tomorrows Schools. 2 May 2001. 19 July 2001 http//www. ncrel. org/cscd/pubs/lead21/2-1m. htm.

Financial performance of Intercontinental Hotels Group Plc 2009-2010 Essay

Financial performance of Intercontinental Hotels Group Plc 2009-2010 - Essay ExampleThis heap be attributed to the reduction in the cost of goods sold for the organization from 2009 to 2010.Profit margin of a caller-up commode be defined as the ratio of solve boodle to net sales. The margin for IHG was 18% in the year 2010. The same margin in 2009 was 13.91%. There is a considerable increase in the profit margin of the hotel. This can be attributed to the lowering of costs from 2009 to 2010.The net profit that we have considered here is including the exceptional items. If we exclude the exceptional items, we find that the ratio has decreased from 19.12% in 2009 to 17.44% in 2010. This is because the existence of high net profit margin excluding exceptional items in 2009 as compared to 2010.The value of this ratio for year 2009 and 2010 is 7.40% and 10.55% respectively. We see that in that respect is a slight increase in the net profit from year 2009 to 2010. At the same time, list assets have come down. Therefore, there is a slight increment in the return on assets. era return on assets measure the amount of net income generated for each unit of assets, return on enthronisation measures the amount of income generated from each unit of owners equity. Return on equity can be calculated by dividing the net profit by tote up equity. The return on equity for IHG has decreased from 2009 (137.18%) to 2010 (100.69%). This is because there is a significant increment in the total equity of the organization.The margin has increased considerably from 2009 (-0.65%) to 2010 (28.19%). In 2009, the company had high cost of goods sold and high impairment costs that resulted in the lowering of the operating profit. thusly the company had a negative operative margin in the year 2009. The high costs can be attributed to the global economic slowdown.This ratio is an indication of the financial leverage of a company. While total liabilities represented 17.54% of the total equity in 2009, it was only 8.54% of the total equity in the