Depletion of Resources

Depletion of Resource Nowadays, world population is increasing , this will affect the depletion of our natural resource. Large population increases in the developing world will strain resources and agricultural productivity (Eicher,2008) . For Instance , as populations grow, it may be necessary to convert additional land for agriculture housing development, and infrastructure. However, we need more products for our daily basic needs or extra needs for the upper class people .When high consumption and wastage of goods continues, natural resources in less developed countries will be exploited to keep the supply coming. Likewise, Australia build the Lynas in Malaysia . They build factory on our land. Furthermore, In order to produce sufficient goods for people ,more factory is needed . Therefore, Human begin to deforestation . According to data provided by the Malaysian Forestry Department(2007),Malaysia has an average annual deforestation rate of 0. 35 %.In total, between 1990 and 2005 , Malaysia lost 6. 6% of its forest cover, or around 1,486,000 hectares. As a example, Deforestation will reduce our natural resource like rubber, oxygen and others . When the deforestation activity occur , it will destruct the natural habitat of wild animals. According to the United Nation Environmental Program assessment (2011), orangutans will be virtually eliminated in the wild within two decades if poaching and illegal trading of the animal or its parts continue.Deforestation might be a main factor extinction of orangutans . Every human need a home ,and animal need it too. On the other hand, Habitat of Orang Asli will be affected too. The author of the book The Threatened Orang Asli (2009) stated that with increasing negative impacts of globalization on their natural environment and resource, indigenous people are finding it harder to defend their land where the resources have been taken without consent.Deforestation has destructed the natural environment and resources of Oran g Asli . In a nutshell , depletion of resource need to be avoided . In my opinion, Government have to find the way solving the problem. For example, encourage people to have more agriculture. Resources is one of the main requirement to developing advance country . Human beings are going to be relying on natural resources for a long time -Gale Norton .

Financial Statement Analysis of Pharmaceuticals in Pakistan

Final Project Profitability Ratios’ Analysis of Pharmaceuticals in same industry for FY 2008-10 Sanofi-Aventis Ferozsons Abbott A REPORT SUBMITTED TO THE DEPARTMENT OF MANAGEMENT SCIENCES, VIRTUAL UNIVERSITY OF PAKISTAN IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTERS IN BUSINESS ADMINISTRATION Submitted By Mc080402262 Sheikh Khurum Akram Department of Management Sciences, Virtual University of Pakistan Acknowledgement In the name of ALLAH, the most Gracious, the most Merciful Firstly I am thankful to ALLAH ALMIGHTY, WHO is sprinkling HIS blessings upon me and my family.HE has bestowed me with sound health and determination to perform this task. I really acknowledge guidelines from my course tutor who taught me the techniques of research. This project is my own effort. Executive Summary I will evaluate three leading pharmaceuticals of Pakistan for profitability ratio analysis of Abbott, Ferozsons and Sanofi-Aventis. I will assess them on the basis of facts and figures provided in their financial statements. My objective is to figure out their flaws and potencies. Outcomes of profitability analysis are worthy for management in making effective decisions.My findings will make easy for all related parties to have impartial analysis. This project will also make available a snapshot of pharmaceuticals’ capability in managing their resource for yielding profits. The main purpose behind this analysis is to conduct a quantitative study of raw data. Outcomes of my project will assist the title-holders and decision-makers to keep an eye on improvement in their businesses. I will perform profitability ratio analysis of Abbott, Ferozsons and Sanofi-Aventis. I will cite my sources each time if exact quote is copied of an author or paraphrasing of the same is drafted in my own words.I will provide reference if I copy a table, chart, diagram, or graph wholly or partly. Microsoft word and excel will be used to evaluate ratio analysis. APA styl e of referencing will be used. Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges and to build up reserves after paying all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit despite reasonable sales volume due to escalating cost of goods sold, operating and non-operating charges. Abbott laboratory and Ferozsons are efficiently managing its assets to generate profit.Sanofi-Aventis is not utilizing its assets properly to generate profit. Abbott laboratory and Ferozsons have higher generating rate of their wealth. Sanofi-Aventis has lower generating rate of its wealth. Ferozsons has better pricing approach and operating competence. On the contrary Sanofi-Aventis has flaws in pricing tactic. Abbott has shown adequate operating profits to meet its fixed cost. Sanofi-Aventis has shown its efficiency at its best in managing significant assets like Property, Plant & Equipment, Stoc k in Trade and Cash with bank balances.Ferozsons has utilized its revenue producing assets exceptionally well. Abbott has produced bulk sales volume with a relatively small amount of fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume turnover with minute amount of property, plant and equipment. Sanofi-Aventis has produced insufficient returns to satisfy its investors. Ferozsons has generated sufficient gross profit volumes to face unfavorable financial circumstances such as low demanding and price competition. Ferozsons and Abbott need to keep scheming in the same way for curtailing cost of goods sold, operating and on-operating expenses. They need to retain effective management policies by utilizing more assets for the generation of higher profits in future. They need to keep strengthening better pricing approach and operating competence. They need to utilize operating assets more effectively to improve their turnover as per sales volume. Ferozson s needs to downsize overinvested in fixed assets. Abbott and Sanofi-Aventis should improve their turnover of fixed assets in terms of sales volume. They can increase gross profits by implementing more effective management policies.Sanofi-Aventis really needs to look its profit yielding capacity. It should review and improve its products range. Furthermore effective management policies can produce the desirable results. It requires implementing improved pricing tactic to attain better operating proficiency. It needs to watch over its policies for better return on owner’s equity to retain its investor confidence. It has shown better operating assets turnover, it should keep utilizing them in the same manner. It needs to improve its selling and marketing strategies to improve profit margins.Table of contents Acknowledgement Executive Summary Section IPage # 1. Chapter 1) Introduction8 Financial Period Under-Consideration for Analysis:10 Objectives10 Significance11 2. Chapter 2) Data Processing and Analysis 11 * Data Collection Sources:12 * Data Processing and Analysis Tools: 12 3. Chapter 3) Data Analysis12 Profitability Ratio Analysis Project12 †¢ Net Profit Margin 12 †¢ Return on Assets 14 †¢ DuPont Return on Assets 17 †¢ Operating Income Margin 20 †¢ Operating Assets Turnover 23 †¢ Return on Operating Assets 26 †¢ Sales to Fixed Assets 29 Return on Total Equity 31 †¢ Gross Profit Margin 34 4. Chapter 4) Summary, Conclusion, Recommendations & Limitations: 5. 2 Conclusion36 5. 3 Recommendations38 Section II a) Introduction of the student39 b) Bibliography39 Section I Chapter 1) Introduction to the Project: My project is about the financial standings and performance interpretations of three leading pharmaceuticals of Pakistan. I am willing to conduct this project to analyze the potentials and flaws of the same sort of business. My findings will facilitate all related parties to have impartial analysis.This project wi ll also provide a snapshot of pharmaceuticals’ competence in handling their resource for generating profits. Profitability ratio analysis helps to conduct a quantitative scrutiny of raw data. It assists the title-holders and decision-makers to monitor improvement in their businesses and endow with qualified analysis. It also helps to analyze and interpret for future prospects. My project will help all the stakeholders to have impartial comparative performance analysis. Reliable analysis of financial statements has got enormous importance in the current economic scenario.Investors, debtors, creditors and customers demand concrete, credible and result-oriented approach on which they can rely. This sort of project is always needed to have impartial analysis that encourages financier to invest in more profitable venture. It will also help the relevant pharmaceuticals to overcome their loopholes. The pharmaceutical concerns have shown high sales in the current era. It is justifiab le to call it the most developed technological segment in the country's financial system. This business is presently experiencing a phase of considerable transformation in under developed countries.Well-established pharmaceuticals can allow investments in more R ; D that expand their potential drugs range. Abbott Laboratories: They are a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Their products span the continuum of care, from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Their comprehensive line of products encircles life itself – addressing important health needs from infancy to the golden years.They have over 70,000 employees worldwide and a global presence in more than 130 countries, Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories, Chicago, USA. Abbott started operations in Pakistan as a marketing af filiate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Currently two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovative technology to produce top quality pharmaceutical products. Abbott Pakistan has leadership in the field of Pain Management, Anesthesia * Medical Nutrition * Anti-Infective Ferozsons Laboratories Limited: It is one of the leading pharmaceuticals in Pakistan. It was incorporated as a Private Limited Company in 1954; Ferozsons Laboratories Limited became Pakistan's first local pharmaceutical company to be listed on the country's stock exchanges (1960). Commencing production in 1956, they made their beginnings primarily as manufacturers of fine chemicals and galenicals, and as toll-manufacturers for multinational pharmaceutical corporations today, heir core strength lies in their own range of branded generics, which cover products in the following segments:   * Anti-infective * Gast rointestinal * Cardiovascular * Dermatology Their marketing force consists of over 230 representatives and managers covering the territories of Pakistan. They have a  consistent prescription growth rate of over 20% per annum  in their promoted products; they provide a solid platform for creating and establishing brands in the Pakistani market. Sanofi-Aventis:Sanofi-Aventis is one of the world’s largest pharmaceutical companies serving the cause of improving health and wellbeing. It is present in more than  100 countries, with around  11,000 scientists. They have around 100, 000 employees  working to improve health and wellbeing. Their Global headquarters are in Paris, France. Sanofi-Aventis focuses its activities on 7 major therapeutic areas: * Cardiovascular * Thrombosis * Oncology * Central Nervous System * Metabolic Disorders * Internal Medicine * VaccinesI have selected this project to have broad based comparative analysis between pharmaceuticals operating in Pa kistan with different origins. It is desirable for me to know how these pharmaceuticals utilizing their resources to yield high profits effectively. 1. 1 Financial Period Under-Consideration for Analysis: Financial years under consideration for analysis are 2008 to 2010 of Abbott, Ferozsons and Sanofi-Aventis. 1. 2 Objectives: The core objectives of the project will be to observe the operations of pharmaceuticals, their financial emergence and potencies along with flaws. To analyze the ability of selected pharmaceuticals to earn profit over a period of time * To analyze the selected pharmaceuticals efficiency in managing their resource for generating profit * To find out the reasons for generating profit over the years for selected pharmaceuticals * To find out that how effectively selected pharmaceuticals are maximizing their profits by controlling their costs/expenses * Trend Analysis will help to study the financial history of pharmaceuticals for comparison. * I would justify my findings about the financial capability of the pharmaceuticals to satisfy the stakeholders. . 3 Significance of the Project: Profitability ratio analysis would provide thorough information about the credibility and current standings of pharmaceuticals. My project will help creditors to know the liquidity position of pharmaceuticals, its relation with profitability and help to settle their priorities. Liquidity determines a company’s capability to meet up its obligations. If a company is facing troubles in meeting its urgent monetary commitments, it can affect its business functions and profitability.Concisely a pharmaceutical with better profitability will be enjoying improved liquidity position. It can help debtors to assess how pharmaceuticals are extending credits, effectiveness of collecting debts and its impact on profit. I want to carry out this type of project to help the investors for settling their decisions in making investments in such a pharmaceutical that would b est value their wealth. It will assist the customers to select such pharmaceutical that is yielding better profits and more reliable. It would help the management to have an independent analysis in identifying their loopholes.Profitability Ratio Analysis, Trend analysis and comparisons of results with other type of data will be judged against the pharmaceuticals within the industry. In short my analysis will help all stakeholders to have relevant and reliable information to ease their decision making process. Chapter 2) Data Processing and analysis: I will disclose and acknowledge all references for all materials that are used from all sources. I will cite my sources each time if exact quote is copied of an author or paraphrasing of the same is drafted in my own words.I will provide reference if I copy a table, chart, diagram, or graph wholly or partly. APA style of referencing will be used. 2. 1 Data Collection Sources may be: Primary Sources: This first hand data will be the conte nts I am investigating through financial statements of my relevant pharmaceuticals. Study of current data is my primary source. Secondary Sources may be: It will be collected through financial statements of my selected pharmaceuticals and internet. 2. 2 Data Processing and Analysis Tools: Microsoft word and excel will be used to evaluate ratio analysis. Chapter 3) Data AnalysisProfitability Ratio Analysis Project I have taken into consideration three recent Financial Years 2008, 2009 and 2010 for analysis of Abbott, Ferozsons and Sanofi-Aventis. 1- Net profit margin Introduction: The net profit margin formula reveals that how much of a company's revenues are reserved as net income. It is generally expressed as a percentage. It is calculated by dividing net profit with sales revenue for a given year. Formula: Net profit margin= Net Profit / Sales Revenue * 100 Net profit margin= (Answer) %age Calculation: Net profit margin| Year 2008| Year 2009| Year 2010| Abbott| =343,980/7,089,163= 4. 5%| =609,072/8,450,118=7. 21%| =1,176,944/10,995,701=10. 70% | Ferozsons| =217,023. 829/932,297. 994=23. 28%| =182,757. 453/1,085,393. 578=16. 84%| =317,542. 675/1,273,374. 822=24. 94%| Sanofi-Aventis | =38,269/4,346,528=0. 88%| =167,371/6,725,708=2. 49%| =224,024/6,158,295=3. 64%| Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of net profit (numerator) and sales revenue (denominator) as these figures are mentioned in Profit and loss account. Graphical Representation and Trend Analysis: Interpretation and Comparison Ferozsons has yielded highest net profit ratio (24. 4% in 2010) whereas Abbott laboratory has the maximum sales volume with compare to other two. Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges. They have the tendency to build up reserves after paying all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit (0. 8 8% in 2008) despite reasonable sales volume. Abbott has shown increasing trend from FY 2008 to 2010 by producing the highest sales volume and by curtailing cost of goods sold, operating and non-operating expenses.Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to the increase in cost of goods sold. It has revived in FY 2010 by yielding the highest net profit percentage by controlling its cost of goods sold. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient net profit to keep any reserves. It has shown the lowest profit percentage in FY 2008 due to very high cost of goods sold and operating expenses along with finance charges. Abbott has changed its financial year from November to December in 2010 (13 months) that has also given it edge in producing better sales volume.Ferozsons has been leading and surpassed other pharmaceuticals with high profit margins by curtailing its cost of goods sold and operating expenses as compared to others . On the other hand Abbott has shown the highest volume of sales as compared to others but profit yielding capacity has seemed to be been on the way out. Sanofi-Aventis has yielded very low profits due to escalating cost of goods sold, operating and non-operating charges. 2- Return on Assets Introduction: Return on average total assets is a profitability gauge of a company with relation to its total assets.It is generally expressed as a percentage. It is calculated by dividing net profit with average total assets for a given year. Formula: Return on Assets= Net Profit / Average Total Assets * 100 Return on Assets = (Answer) %age Calculation: Return on Assets= Net Profit / Average Total Assets * 100| | Return on Assets| Year 2008| Year 2009| Year 2010| Abbott| 343980/4865539*100=7. 07%| 609072/5007143*100=12. 16%| 1176944/5377499*100=21. 89%| Ferozsons| 217023. 829/1349994. 951*100=16. 08%| 182757. 453/1530769. 165*100=11. 94%| 317542. 675/1724423. 948*100=18. 41%| | | | | Sanofi-Ave ntis | 38269/2706204*100=1. 1%| 167371/3211724*100=5. 21%| 224024/3393760*100=6. 60%| | | | | Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of net profit (numerator) as it is mentioned in profit & loss account. | Total Assets| | | | Total Assets| Year 2007| Year 2008| Year 2009| Year 2010| Abbott| 4681368| 5049710| 4964576| 5790421| Ferozsons| 1218361. 366| 1481628. 536| 1579909. 793| 1868938. 102| | | | | | Sanofi-Aventis | 2428053| 2984355| 3439093| 3348427| | | | | | | Average Total Assets=(Current Year + Preceding Year)/2| | Average Total Assets| Year 2008| Year 2009| Year 2010|Abbott| (4681368+5049710)/2=4865539| (5049710+4964576)/2=5007143| (4964576+5790421)/2=5377499| Ferozsons| (1218361. 366+1481628. 536)/2=1349994. 951| (1481628. 536+1579909. 793)/2=1530769. 165| (1579909. 793+1868938. 102)/2=1724423. 948| | | | | Sanofi-Aventis | (2428053+2984355)/2=2706204| (2984355+3439093)/2=3211724| (3439093+3348427)/2=3393760| | | | | Gr aphical Representation and Trend Analysis: Interpretation and Comparison: Abbott Laboratory has yielded better percentage of return on assets due to reasonable net profit.The better ratio of Abbott laboratory depict that the pharmaceutical is able to manage its assets efficiently to generate profit. Ferozsons has also reasonable percentage of ROA that depicts its effective management of assets to generate profit. Sanofi-Aventis has low volumes of net profit with higher size of average total assets that depicts its inability in utilizing its assets properly to generate profit. Abbott has shown increasing trend from FY 2008 to 2010 due to better profit margin as compared to previous years. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to decline in net rofit volume. It has also revived in FY 2010 by yielding the higher net profit against average total assets. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but inadequate net profit to utilize total assets effectively. It has shown the lowest ROA in FY 2008 due to very low net profit. Ferozsons has the highest ROA on the whole. It has outclassed other pharmaceuticals. In contrast Sanofi-Aventis has shown the lowest volume of net profits but considerable magnitude of average total assets that depict inefficient management policies to utilize total assets.Abbott has shown considerably well managed performance in utilizing total assets for producing profit. 3- Dupont Return on Assets Introduction: Dupont return on total assets is used to evaluate how productively assets are used. It measures the mutual effects of profit margins and asset turnover. It is generally expressed as a percentage. It is calculated by multiplying net profit margin and total asset turnover for a given year. Formula: DuPont Return on Assets= (Net income / Sales) x (Sales / Total Assets) DuPont Return on Assets = Net profit margin x Total asset turnover DuPont Return on Assets = (Answer) %ageCalculation: Dupo nt return on Assets = net profit margin x total asset turnover Dupont return on Assets| Year 2008| Year 2009| Year 2010| Abbott| 4. 85%*1. 41=6. 84%| 7. 22%*1. 70=12. 27%| 10. 70%*1. 90=20. 33%| Ferozsons| 23. 28%*0. 63=14. 65%| 16. 84%*0. 69=11. 57%| 24. 94%*0. 68=16. 99%| Sanofi-Aventis | 0. 88%*1. 46=1. 28%| 2. 49%*1. 96=4. 87%| 3. 64%*1. 84=6. 69%| | | | | Note: Numeric Figures are mentioned in ‘000’ Working: Net profit margin= (Net income / Sales)*100 | Year 2008| Year 2009| Year 2010| Abbott| =343980/7089163*100=4. 85%| =609,072/8,431,080*100=7. 22%| =1,176,944/10,995,701*100=10. 0% | Ferozsons| =217,023. 829/932,297. 994*100=23. 28%| =182,757. 453/1,085,393. 578*100=16. 84%| =317,542. 675/1,273,374. 822*100=24. 94%| Sanofi-Aventis | =38,269/4,346,528*100=0. 88%| =167,371/6,725,708*100=2. 49%| =224,024/6,158,295*100=3. 64%| Total assets Turnover= (Sales / Total Assets) Abbott| 7089163/5049710=1. 41 Times| =8450118/4964576=1. 70 Times| =10995701/5790421=1. 90 Times | Ferozsons| =932297. 994/1481628. 536=0. 63 Times| =1085393. 578/1579909. 793=0. 69 Times| =1273374. 822/1868938. 102=0. 68 Times| Sanofi-Aventis | =4346528/2984355=1. 46 Times| =6725708/3439093=1. 6 Times| =6158295/3348427=1. 84 Times|   | Dupont Return on Assets|   | | Year 2008| Year 2009| Year 2010| Average| Abbott| 6. 84%| 12. 27%| 20. 33%| 13. 15%| Ferozsons| 14. 65%| 11. 57%| 16. 99%| 14. 40%| Sanofi-Aventis | 1. 28%| 4. 87%| 6. 69%| 4. 30%| Graphical Representation and Trend Analysis: Interpretation and Comparison: We can analyze the sales comparisons with net income and assets of Abbott laboratory; it has yielded better volume of profits along with an increase in its total assets and sales volume over the years. Its higher ratio depicts the higher generating rate of its wealth.Ferozsons has yielded higher profit margins by controlling its cost of goods sold but lower total assets turnover rate due to less sales volumes. Sanofi-Aventis has very low net profit margins bu t reasonably well total assets turnover rate that depicts lower generating rate of its wealth. Abbott has shown increasing trend from FY 2008 to 2010 due to better net profit margin and sales volumes. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to comparatively low profit margin. It has also revived in FY 2010 by yielding higher profit margins, increase in total assets and sales volume.Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient net profit margins has overlooked better total assets turnover rate. Ferozsons has the highest Dupont return on assets. It outshines other pharmaceuticals in better performance on the basis of relevant FY’s average. On the contrary Sanofi-Aventis has shown the lowest volume of Dupont return on assets but reasonable magnitude of total assets and sales volume. Abbott has shown fair performance in utilizing total assets with sales spectrum. Its average is near to Ferozsons’. 4- Operating i ncome margin Introduction:This ratio is used to compute the price policies and operational competence. It is generally expressed as a percentage. It is calculated by dividing operating profit with net sales for a given year. Formula: Operating income margin = Operating Profit / Net Sales*100 Operating income margin = (Answer) %age Calculation: Operating income margin| Year 2008| Year 2009| Year 2010| Abbott| 547526/7089163*100=7. 72%| 878503/8450118*100=10. 42%| 1744787/10995701*100=15. 87%| Ferozsons| 280330. 464/932297. 994*100=30. 07%| 238019. 515/1085393. 578*100=21. 93%| 330518. 449/1273374. 822*100=25. 6%| Sanofi-Aventis | 171478/4346528*100=3. 95%| 384071/6725708*100=5. 71%| 531682/6158295*100=8. 63%| Note: Numeric Figures are mentioned in ‘000’ Working: Operating Profit (Numerator) = Gross Profit + Other Operating Income – Admin Expenses – Selling & Distribution Expenses – Other Charges Operating Income Break-up GP+OTHER OPERATING INCOME-ADM IN EXP-SELLING & DISTRIBUTION EXP-OTHER CHARGES|   | 2008| | Abbott| 2097653+105545-255737-1334884-65051=547526| | | | | Ferozsons| 540738. 562+20809. 63-60719. 276-199424. 66-21073. 792=280330. 464| | | | | Sanofi- Aventis | 1055823+52809-122627-757135-57392=171478| | | GP+OTHER OPERATING INCOME-ADMIN EXP-SELLING & DISTRIBUTION EXP-OTHER CHARGES|   | 2009| 2010| | Abbott| 2321131+141890-201943-1252810-129765=878503| 3687038+109079-267915-1601101-182314=1744787| | | | | | Ferozsons| 584211. 298+23954. 076-80995. 604-261185. 939-27964. 316=238019. 515| 633242. 518+43434. 507-83262. 197-234076. 533-28819. 846=330518. 449| | | | | | Sanofi- Aventis | 1626599+101126-152707-1048283-142664=384071| 1753544+102220-175580-1094063-54439=531682| | | | | No need to provide breakup of Net Sales (denominator) are mentioned in profit and loss account of respective pharmaceutical.Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory has yielded comparativ ely low operating income margins as compared to Ferozsons due to an increase in business cost and its expenses. Abbott has lower volume of operating profit in 2008 with increased net sales. Ferozsons has optimum capacity to pay for its fixed cost. Sanofi-Aventis has low operating income margin that depicts its poor pricing strategy and operating efficiency. It has minimal operating profits over the years but reasonable net sales volumes. Abbott has shown increasing trend from FY 2008 to 2010.The pharmaceutical should manage its expenses to reduce this decline. It has done better in FY 2010 by producing highest operating profit. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to comparatively low operating profit with comparatively better sales volume. It has also revived in FY 2010 by yielding higher operating profit. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient operating profit margins has caused inadequate margins to meet its f ixed costs. The aforementioned ratio provides an insight to determine the quality of a company.Ferozsons has the highest operating income margins. It has left behind other pharmaceuticals by yielding sufficient operating income that depicts better pricing approach and operating competence. On the contrary Sanofi-Aventis has shown the lowest volume of operating profit margins that shows its flaws in pricing tactic. Abbott has shown adequate operating profits to meets its fixed costs but comparatively low as compared with Ferozsons. 5- Operating Assets Turnover Introduction: This is a financial ratio that indicates the effectiveness with which a firm's management uses its operating assets to generate sales.It is generally expressed in times. It is calculated by dividing net sales with average operating assets for a given year. Formula: Operating Assets Turnover= Net sales/ Operating assets Operating Assets Turnover = (Answer) Times Calculation: Operating Assets Turnover| Year 2008| Ye ar 2009| Year 2010| Abbott| 7089163/5168443=1. 37 Times| 8431080/4684635=1. 80 Times| 10995701/4740615= 2. 32 Times| | | | | Ferozsons| 932297. 994/1055296. 397=0. 88 Times| 1085393. 578/652061. 759=1. 66 Times| 1273374. 822/865565= 1. 47 Times| | | | | Sanofi- Aventis | 4346528/33338090= 0. 13 Times| 6725708/2785713= 2. 1 Times| 6158295/2399541= 2. 57 Times| | | | | Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Net Sales (numerator) are mentioned in profit and loss account of respective pharmaceutical. Operating Assets = Total Assets – (Intangible Assets + Capital work in progress+ Loans and Advances + Investments + other assets) Break-up of operating Assets Operating Assets Turnover| Year 2008| Year 2009| Year 2010| Abbott| 5790421-(0+392954+170071+2801+56152)=5168443 | 4964576-(0+159886+73056+4393+42606)=4684635 | 5049710-(0+202480+23580+44896+4393+33746)=4740615 | Ferozsons| 1868938. 02-(0+141831. 157 +223867. 236+438228. 405+9714. 907)=1055296. 397 | 1579909. 793-(0+171010. 120+215775. 559+205992. 988+35069. 367)=952061. 759 | 1481628. 536-(0+0204216. 826+217372. 560+194474. 564)=865565 | Sanofi- Aventis | 33484287-(339+ 119,808+21381+4669)=33338090 | 3439093-(114+ 618,974+29683+4609)=2785713 | 2984535-(729+550391+30549+3325)=2399541 | Graphical Representation and Trend Analysis: Interpretation and Comparison: Operating assets turnover of Abbott laboratory has improved over the years as operating assets are slightly decreasing with respect to better net sales.Ferozsons has comparatively improved turnover due to substantial increase in net sales with respect to operating assets. Sanofi-Aventis has reasonably well sales volume but operating assets haven’t grown in proportion. Abbott has shown increasing trend from 2008 to 2010 due to improved sales volume and minor change in operating assets. Ferozsons has shown an increasing trend from FY 2008 to 2009 due to comparatively decrease in operatin g assets as compared to net sales. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 due to better sales with respect to operating assets.Sanofi-Aventis has represented its efficiency at its best in managing significant assets like Property, Plant ; Equipment, Stock in Trade and Cash with bank balances. It has surpassed others during FY 2009-10. On the other hand Ferozsons has shown comparatively low operating Assets Turnover with respect to other two. Abbott has shown rather better performance on the whole. 6- Return on Operating Assets Introduction: This is a financial ratio that gives an idea  as how efficient  management is  at using its assets to generate earnings. It is generally expressed as a percentage.It is calculated by dividing net profit with average operating assets for a given year. Formula: Return on operating Assets = Net profit / Operating assets*100 Return on operating Assets = (Answer) %age Calculation: Return on operating Assets| Year 2008| Year 2009| Year 2010| Abbott| 343980/5168443=6. 66%| 609072/4684635=13%| 1176944/4740615=24. 83%| | | | | Ferozsons| 217023. 829/1055296. 397=20. 57%| 182757. 453/952061. 759=19. 20%| 317542. 675/865565=36. 69%| | | | | Sanofi-Aventis | 38269/33338090=0. 11%| 167371/2785713=6. 01%| 224024/2399541=9. 34%| | | | |Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Net Profit (Numerator) are mentioned in profit and loss account of respective pharmaceutical. Operating Assets = Total Assets – (Intangible Assets + Capital work in progress+ Loans and Advances + Investments + other assets) Break-up of operating Assets Operating Assets Turnover| Year 2008| Year 2009| Year 2010| Abbott| 5790421-(0+392954+170071+2801+56152)=5168443 | 4964576-(0+159886+73056+4393+42606)=4684635 | 5049710-(0+202480+23580+44896+4393+33746)=4740615 | Ferozsons| 1868938. 102-(0+141831. 157 +223867. 36+438228. 405+9714. 907)=1055296. 397 | 1579909. 793-(0+171010. 120+215775. 559+205992. 988+35069. 367)=952061. 759 | 1481628. 536-(0+0204216. 826+217372. 560+194474. 564)=865565 | Sanofi- Aventis | 33484287-(339+ 119,808+21381+4669)=33338090 | 3439093-(114+ 618,974+29683+4609)=2785713 | 2984535-(729+550391+30549+3325)=2399541 | Graphical Representation and Trend Analysis: Interpretation and Comparison: Percentages of return on assets actively used to create profit of Abbott laboratory have been reasonable. Net profit has declined during 2008 that has caused comparatively low ratio.Ferozsons has also utilized its assets actually required to run the business. Its operating assets have improved over the years with reasonable net profit volumes. Sanofi-Aventis has not utilized it’s actively used assets efficiently to create revenue, consequently very low returns. Abbott has shown increasing trend from 2008 to 2010 due to comparatively high net profit. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to decline in net profit an d increased volume of operating assets. It has the highest percentage of 36. 69% in FY 2010 due to rapid increase in net profit.Sanofi-Aventis has shown increasing trend over the years due to substantial increase in the volumes of net profit but these percentages have been below average. It needs to improve its net profit. Ferozsons has utilized its revenue producing assets exceptionally well. It has been leading other two. On the other hand Sanofi-Aventis has shown very low percentages of return on operating assets and it has been unable to actively use its assets to create revenue. Abbott has shown noticeably improved performance but has not performed better than Sanofi-Aventis. 7- Sales to Fixed AssetsIntroduction: The fixed-asset turnover ratio measures a company's ability to generate net sales from fixed-asset investments –  specifically property, plant and equipment (PP&E) – net  of depreciation. It is generally expressed in times. It is calculated by dividin g net sales with fixed assets for a given year. Formula: Sales to fixed Assets = Net sales / Fixed assets Sales to fixed Assets = (Answer) Times Calculation: Sales to fixed Assets| Year 2008| Year 2009| Year 2010| Abbott| 7089163/1560835= 4. 54 Times| 8450118/1662785=5. 07 Times| 10995701/1877596= 5. 6 Times| Ferozsons| 932297. 994/610987. 413=1. 53 Times| 1085393. 578/735614. 952=1. 48 Times| 1273374. 822/742280. 446=1. 72 Times| Sanofi-Aventis | 4346528/1195978= 3. 63 Times| 6725708/1393461=4. 83 Times| 6158295/1409260=4. 37 Times| Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Net Sales (Numerator) are mentioned in profit and loss account of respective pharmaceutical. Fixed assets breakup (Denominator) = Property, Plant and Equipment-net  of depreciation, the said figure has been given in the balance Sheet.Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory’s performance is better as it is generating almost more than 5 times (on average) sales turnover as compared to its small amount of property, plant and equipment. Ferozsons seems to be lenient in producing sales as per the volume of Property, plant and equipment. It has overinvested in fixed assets. It needs to revive its sales by introducing new product’s range. Sanofi-Aventis has also done reasonably well to generate sufficient sales volume as compared to its small amounts of fixed assets.Abbott has shown increasing trend from 2008 to 2010 due to increased sales volume and comparatively small amount of fixed assets. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to overinvestment in property, plant and equipment. It has improved its ratio in FY 2010 by sufficient increase in sales volume. Sanofi-Aventis has shown increasing trend from FY 2008 to 2009 due to adequate increase in sales volume. It has declined in FY 2010 due to decrease in sales. Abbott has surpassed others by produ cing bulk sales volume with a relatively small mount of fixed assets. On the other hand Ferozsons has shown very low turnover that means it has overinvested in fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume with minute amount of property, plant and equipment.. 8- Return on total equity Introduction: Return on equity  measures a corporation's profitability  by revealing how much  profit a company generates  with the  money  shareholders have invested. It is generally expressed as a percentage. It is calculated by dividing net profit with share holder’s equity for a given year. Formula:Return on total equity = Net profit / Share holder’s equity*100 Return on total equity = (Answer) %age Calculation: Return on total equity| Year 2008| Year 2009| Year 2010| Average| Abbott| 343980/3568512*100=9. 64%| 609072/3238460*100 =18. 81%| 1176944/3912539*100 =30. 08%| 19. 51%| Ferozsons| 217023. 829/826236. 891*100 =26. 27%| 182757. 453/970129. 401*100 =18. 84%| 317542. 675/1275765. 058*100 =24. 89%| 23. 33%| Sanofi- Aventis | 38269/1116612*100=3. 43%| 167371/1292449*100=12. 95%| 224024/1461403*100=15. 33%| 10. 57%| Note: Numeric Figures are mentioned in ‘000’ Working:No need to provide breakup of Net Profit (Numerator) are mentioned in profit and loss account of respective pharmaceutical. Share holder’s Equity breakup (Denominator) = Issued, subscribed ; paid-up capital + Reserves – capital + Reserves – revenue Issued, subscribed ; paid-up capital + (Capital Reserves + Revenue Reserves)|   | 2008| 2009| | Abbott| 979003+154777+2434732=3568512| 979003+173853+2085604=3238460| | | | | | Ferozsons| 144672. 768+321. 843+681242. 280=826236. 891| 173607. 322+321. 843+796200. 236=970129. 401| | | | | | Sanofi- Aventis | 96448+1020164=1116612| 96448+1196001=1292449| | | | Issued, subscribed ; paid-up capital + Reserves – capital + Reserves – revenue|   | 2010| | Abbo tt| 979003+197167+2736369=3912539| | | | | Ferozsons| 208328. 786+321. 843+1067114. 429=1275765. 058| | | | | Sanofi- Aventis | 96448+1364955=1461403| | | | Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory has yielded better profits on owner’s equity that is a positive sign for investors and lenders. Its return on owner’s equity falls in FY 2008 due to decline in net profit. Ferozsons has also done considerably better by yielding sufficient returns.It has also decline in returns during FY 2009 due to rapid decrease in net profit. Its owner’s equity has also improved over the years. Sanofi-Aventis has also slightly improved over the years as it has yielded nominal returns on investment in FY 2009 and 2010. It has very low returns in FY 2008 that should be a matter of concern for the management. Abbott has shown increasing trend from 2008 to 2010 due to increase in net profit volume over the years. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to substantial decrease in net profit.It has improved its ratio in FY 2010 by sufficient increase in net profit. Sanofi-Aventis has shown increasing trend from FY 2008 to 2010 due to slightly noticeable increase in net profit volumes but these are not attractive from investors’ point of view. Ferozsons has surpassed others by producing overall better average return that is 23. 33%. It has generated sufficient net profit volumes. Sanofi-Aventis has produced insufficient returns to satisfy its investors. It needs to watch over its policies for better performance. Abbott has also produced reasonable returns on owner’s equity. 9- Gross Profit Margin Introduction:It is used to assess  a firm's financial health by revealing the  proportion of money left over from revenues after accounting for the cost of goods sold. It is generally expressed as a percentage. It is calculated by dividing gross profit with net sales for a given ye ar. Formula: Gross profit Margin = Gross profit / Net sales*100 Gross profit Margin = (Answer) %age Calculation: Gross profit Margin| Year 2008| Year 2009| Year 2010| Abbott| 2097653/7089163*100= 29. 6%| 2321131/8450118*100=27. 53%| 3687038/10995701*100=33. 53%| Ferozsons| 540738. 562/932297. 994*100=58%| 584211. 298/1085393. 578*100=53. 82%| 633242. 518/1273374. 22*100=49. 73%| Sanofi- Aventis | 1055823/4346528*100=24. 29%| 1626599/6725708*100=24. 18%| 1753544/6158295*100=28. 47%| Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Gross Profit (Numerator) and Net Sales (Denominator) as these figures are mentioned in profit and loss account of respective pharmaceutical. Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory has reasonable overall gross profit margins. That’s why it has yielded sufficient returns on equity. Its net sale has increased over the years. It has a decline in gross p rofit in FY 2009.Ferozsons has also done exceptionally well by yielding the highest gross profit margins. It has the tendency to face adverse economic condition such as low demanding and price competition. Sanofi-Aventis has undermined overall gross profit margins. Its gross profit margins are not sufficiently enough to bear operating and non-operating expenses. Abbott has shown decreasing trend from 2008 to 2009 due to decrease in gross profit. It has revived in FY 2010 by yielding higher gross profit. Ferozsons has also shown a decreasing trend from FY 2008 to 2009 due to significant decrease in gross profit.It has decreased further in FY 2010 due to bulk net sales volumes. Sanofi-Aventis has shown almost same trend in FY 2008 and 2009 but an increase in FY 2010 due to higher gross profit. Ferozsons has left behind others by producing overall excellent gross profit margins. It has generated sufficient gross profit volumes to face unfavorable financial circumstances such as low dem anding and price competition. Sanofi-Aventis has produced insufficient gross profit returns to satisfy any stakeholder. Abbott has produced adequate gross profit margins to absorb operating and non-operating expenses.Chapter 4) Summary, Conclusion, Recommendations & Limitations: 4. 2) Conclusions * Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges. They have the tendency to build up reserves after paying all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit despite reasonable sales volume due to escalating cost of goods sold, operating and non-operating charges. * Abbott laboratory and Ferozsons are efficiently managing its assets to generate profit.Sanofi-Aventis has low volumes of net profit with higher size of total assets that depicts its not utilizing its assets properly to generate profit. * Abbott laboratory and Ferozsons have yielded greater volume of profits along with an increase in its total assets and sales volume over the years. Its higher ratio depicts the higher generating rate of its wealth. Sanofi-Aventis has very low net profit margins but reasonably well total assets turnover rate that depicts lower generating rate of its wealth. * Ferozsons has the highest operating income margins that depict better pricing approach and operating competence.On the contrary Sanofi-Aventis has shown the lowest volume of operating profit margins that shows its flaws in pricing tactic. Abbott has shown adequate operating profits to meets its fixed costs. * Sanofi-Aventis has shown its efficiency at its best in managing significant assets like Property, Plant & Equipment, Stock in Trade and Cash with bank balances. On the other hand Ferozsons and Abbott have shown comparatively low Operating Assets Turnover in utilizing operating assets for generating sales. * Ferozsons has utilized its revenue producing assets exceptionally well.On the other hand Sano fi-Aventis has shown very low percentages of return on operating assets. Abbott has shown noticeably improved performance on the whole. * Abbott has produced bulk sales volume with a relatively small amount of fixed assets. Ferozsons has shown very low turnover that means it has overinvested in fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume turnover with minute amount of property, plant and equipment. * Sanofi-Aventis has produced insufficient returns to satisfy its investors. Ferozsons has produced enough returns on owner’s equity whereas Abbott has also yielded reasonable returns.It is a good sign for prospect investors. * Ferozsons has generated sufficient gross profit volumes to face unfavorable financial circumstances such as low demanding and price competition. Sanofi-Aventis has produced insufficient gross profit returns to satisfy any stakeholder. Abbott has produced adequate gross profit margins to absorb operating and non-opera ting expenses. 4. 3) Recommendations * Ferozsons and Abbott need to keep scheming in the same way to keep curtailing cost of goods sold, operating and non-operating expenses. Sanofi-Aventis really need to look its profit yielding capacity.It should review and improve its product range. Furthermore effective management policies can produce the required results. * Ferozsons and Abbott need to retain effective management policies by utilizing more assets for the generation of higher profits in future. Sanofi-Aventis can yield better profit by utilizing its assets proficiently through effective management role. * Ferozsons and Abbott have reasonable Dupont return on Assets with sales spectrum. Sanofi-Aventis needs to improve it by curtailing its cost of goods sold, operating and non-operating expenses. Better profits always enhance investors’ confidence and it matters in the end. Ferozsons and Abbott have reasonable operating income margin and they need to keep strengthening bett er pricing approach and operating competence. Sanofi-Aventis requires implementing improved pricing tactic to attain better operating proficiency. * Abbott and Ferozsons need to utilize operating assets more effectively to improve their turnover as per sales volume. Sanofi-Aventis has unexpectedly better turnover, it should keep utilizing operating assets in the same manner. * Sanofi-Aventis needs to utilize its revenue producing assets in a better way. Abbott and Ferozsons should retain their current line of action. Ferozsons needs to downsize overinvested in fixed assets. Abbott and Sanofi-Aventis should keep their approach towards utilizing its fixed assets in terms of sales volume. * Sanofi-Aventis needs to watch over its policies for better return on owner’s equity to retain its investor confidence. Ferozsons and Abbott have to retain their pace in retaining current returns on owner’s equity. * Sanofi-Aventis needs to improve their selling strategies to improve pr ofit margins. Abbott and Ferozsons can increase gross profits by implementing more effective management policies. Section II a) Introduction of the student Last degree Obtained: B. ComOrganization’s Name: Wisdomhouse School Designation: Owner/Principal Experience: 7 Years b) Bibliography †¢Vu hand Outs †¢Internet sources †¢www. investopedia. com †¢http://www. accountingtools. com/fixed-asset-turnover-ratio †¢http://www. abbott. com. pk/11_Financial. htm †¢http://www. pakistaneconomist. com/database2/pdffiles/Pharmaceutical/Abbot/Year%202008/ALAnnual-%20Y08. pdf †¢http://www. ferozsons-labs. com/investor. htm †¢http://www. sanofi-aventis. com. pk/l/pk/en/layout. jsp? scat=59A5026C-701D-4C54-B1EC-E7788EA00832 †¢Ross, S. A. , R. W. Westerfield and B. D. Jordan. Essentials of Corporate Finance (1999), 2nd Edition, Irwin/McGraw-Hill.

George W. Bush more like T. Roosevelt as opposed to Taft and Wilson Essay

President George W. Bush’s post September 11th policy certainly shows great resemblances to President Theodore Roosevelt’s foreign policy more than that of Taft or Wilson. Roosevelt had a more stern policy, encouraging the forceful defense of the nation and the spreading of democracy and Christian ideals to less fortunate countries. This was very much so a direct correlation to what Bush tried to do Taft’s policy emphasized economic ideals in that he argued the US should lend out money and help countries elevate their economic status in order for the promotion of peace and prosperity throughout the world. Wilson’s policy emphasized morality, and the â€Å"nice guy† standpoint of how the US should carry out obligations. Consequently, President George Bush’s policy is a better reflection of President Theodore Roosevelt’s policy more than Taft’s or Wilson’s policy because of the military and political ideals that the two pol icies share. President Bush’s post September 11 policy reflects Roosevelt’s is because of the swift, stern actions that Bush’s administration took after the attacks on the nation. As Bush sent the troops over to Iraq quickly and in great numbers, the administration sent a candid and stern message. The United States would not stand for an attack on its soil, and those who did so would receive grave punishment for their actions. This message echoes the morals behind the â€Å"big Stick† policy. Just as Theodore Roosevelt once said, â€Å"Speak softly and carry a big stick.† Theodore Roosevelt believed that power was an important and unavoidable thing in foreign affairs. He also noted in his addition to the Monroe Doctrine (called the Roosevelt Corollary) that if any nation in the Western Hemisphere appeared in a political or fiscal situation that would allow for European control, the US should intervene. With an imperialistic outlook on the world, Roosevelt made the US a nation that constantly intervened and helped Latin American countries avoid European interference in the Western Hemisphere. Examples of this lie in Theodore Roosevelt actions when he made Cuba a protectorate, took Guam and Puerto Rico, as well as when he ventured out and involved the United States in the counterinsurgency of the Philippines all in order to fortify the existence of democracy and Christianity and help the individuals of the nations govern themselves. These ideals and policies were mirrored in Bush’s actions when the US troops inhabited the Middle East, and the Bush administration took it upon itself to take advantage of their occupancy of the lands by spreading its ideals of democracy and ‘correct’ political procedures. By doing this, the Bush Administration had essentially identified these locations in the Middle East as lesser fortunate nations, deemed themselves fit to help these regions, and force their ‘help’ past the governments of the regions and to the people. This decision and series of actions greatly resembles the actions and opinions of Roosevelt’s Corollary. Taft’s policy by contrast, was more of the United States venturing out to foreign land allowing for each foreign nation’s gradual acquiring of political and economic power through US investment in the countries’ infrastructures, which has little to do with Bush’s initial choice to attack the Middle East after September 11. Taft used â€Å"Dollar Diplomacy,† instead of military force. He wanted control and to aid businessmen in the US, and was in strong favor of solving problems via economic means rather than militarily. He saw his policy as humanitarian, for stabilization improved the living scale and conditions. For instance, in Nicaragua during 1912, the government would default on its debts, which might mean European intervention. The US offered to loan money (by private men) if the US could have some supervision over Nicaraguan finances. Bush’s post September 11 policy does not mirror this because he was in favor of military force and making it known militarily that the US could not be attacked without grave punishment. Wilson however based his policy on Morality. Bush’s post September 11th policy did not wholly reflect Wilson’s policy because Wilson’s Missionary policy aimed more in the direction of seeking peace and prosperity by means of creating pathways for institutions to branch out globally while Bush’s aim after the September 11 attacks was to retaliate forcefully and brutally (neither of which was peaceful). For instance, when the Japanese attempted, in the notorious Twenty-one Demands (1915), to reduce China almost to the status of a Japanese protectorate, he persuaded them to modify their conditions slightly. The ‘Twenty-One Demands’ required that China immediately cease its leasing of territory to foreign powers and to ascent to Japanese control over Manchuria and Shandong (Shantung) among other demands. Such persuasion as opposed to attack and forcefully making the US point reveals the difference between Bush’s and Wilson’s policy. Consequently, it is evident that President Bush’s post September 11 policy best resembles Roosevelt’s â€Å"big stick† diplomacy. Roosevelt’s policy was based on pragmatism as well as the idea of the nation’s obligatory retaliation to threats and attacks on the nation’s soil. His belief in the United States’ obligation to help foreign nations in need of political/military assistance is also a part of his policy. After the September 11th attacks, each of these ideals was echoed in President George W. Bush’s new foreign policy in that he reacted to the tragedy through military retaliation and force. Additionally once occupying the lands, the Bush administration chose to assist the Iraqi people and help them acquire the democratic ideals the US holds so dearly.

Corporate Social Responsibility That is Practising in Self Regulation Research Paper

Corporate Social Responsibility That is Practising in Self Regulation - Research Paper Example In general, the focus is usually to improve the public’s standards of living. The communal interests are incorporated into the business decision making process. â€Å"Corporations are now expected to deliver the good, not just the goods; to pursue values, not just value, and to help make the world a better place† (Bakan, 2004). However, critics of CSR argue that the ultimate goal of companies is to make profits from their capital outlay. It would be wrong to assume that a company can be established with the mission of helping the public to overcome the problems that they face in their day to day lives. This paper defines various concepts associated with corporate social responsibility. It identifies relevant issues, analyzes recent developments as well as an evaluation of arguments and finally, it presents and explains a personal opinion concerning CSR. CSR is faced with various issues concerned with the manner in which organizations operate to accomplish business strategies aimed at boosting profitability while on the other hand maintaining ethical principles for the sake of the public. In essence, every business venture is usually intended to make a profit, and as William (2010) argues, the business strategies are developed to help an organization to counter the factors that might hinder its profitability. The reaction of the public to the externalities emanating from the business operations is one factor that may hamper the realization of organizational objectives. Engaging in CSR is one of the tools applied by companies to ensure that its own externalities are viewed positively by the public. For example, large petroleum industries are the major contributors of the greenhouse gases emitted into the atmosphere, which contributes to the degradation of the ozone layer and eventually global warming.

Comparing three articles Essay Example | Topics and Well Written Essays - 1000 words - 1

Comparing three articles - Essay Example nvest millions of shillings in adverts just to reach the largest target audience with product information, and consequently, persuade or influence them to buy the product. Non-profit organizations also advertize their messages to raise awareness on various matters that affect communities. Successful ads create desire and interest in the target audience and persuade them to purchase the product in question. Furthermore, these ads provide additional information about the product or service that the consumer may not have been aware of. With the current stiff competition among businesses, use of efficient and proven techniques give firms an edge over their competitors. Though consumers are exposed to millions of adverts, each of these is unique as they each try to use techniques that draw maximum attention of the consumers to the product. Advertisers strive to make ads memorable, convincing, and exciting using visual effects and relevant language for a particular audience. They achieve t his with simple, persuasive, and clear language. Language is powerful and significant tool for human beings to communicate effectively with others. Therefore, the use of relevant and appropriate language in marketing and advertising brings success in the communication process. All firms select appropriate advertisement language to persuade their audience and make their ads successful. Additionally, words of various languages have their denotations. However, these words also have different connotations meaning their emotional associations. Advertisers have taken full advantage of these connotations to efficiently construct persuasive messages that evoke consumers’ emotions. Baumgartner in the article, It’s All in the Detail states that dealers usually feel they have done their job when customers emotionally feel something after viewing their ads. In clarification, O’Neill in The Language of Advertising explains that most clients experience emotional connections to the ads after

Green Case Study Example | Topics and Well Written Essays - 1000 words

Green - Case Study Example Green Case Jain suggest that politics is an art of governance where, the involved persons formulate rules or regulations and principles that would help them run or deliver well to the public or community at large. Politics involves matters or affairs of public interest. Politics relates most with power and resource distribution. Here political ideas used to create chances or persuade people or individuals for personal gain. However, politics has both the good and the bad side in every involvement that touches on politics. Politics may play a major role in influencing certain actions or behaviors to suit personal gain. In an organization, politics may influence the decisions the management make at certain points concerning certain critical issues in the organization. Issues about promotion and performance at work may involve politics. Politics plays an important role in creating regulations and principles governing the public affairs with an aim of maintaining law and order. With thes e points at hand, in agreement with statement that politics is not inherently bad there are several instances or reasons in favor of this statement. To support the statement, it is good to consider the case of Michelle Jones, used her political tactics to shape up her region’s strategy and the support she gave to their selling efforts. To this end, this political move translated to her performance and for her organization’s benefit at the end of the day.... Politics has power to institute changes in an organization (Sasser and Beckham 9; Jain 151). From Sasser and Beckham (8) suggestions, it is true also that, politics is a fact in an organization. Here, Thomas used his political and his power of creativity to influence or convince the company’s vice president so as to get into the ob position he so wished to be in. In normal circumstances, this would not have occurred in this order, positions some times go with experience and the right procedure to select qualifying candidates within the department or organization may seem okay. In addition, because of politics some decisions that would have been impossible to make, influencing may be in a matter of hours of a few days when a politically activated channel of decision-making is used (Jain 156). Decisions in a big organization may at one point need the application of politics to effect good and reliable solutions as this may call on all company employees and representatives to par ticipate in some kind of voting for the best principles for an organization to adapt. This points out to Michelle’s efforts that involved all the sells representatives at one point or the other. A number of organizational factors that lead to or contribute to some political behaviors in an organization range form; self-serving seniors, unclear evaluation systems in an organization, this may be in terms of promotions and critical decision making, lack of such systems leads to the individuals like Thomas seeking there own way to address there needs or ways of promotion. High performance pressures, this case an assumption concerning Michelle’s political involvement that created an impression to her seniors and a move

The philosophical position of positivism and its role int he Essay

The philosophical position of positivism and its role int he management knowledge creation process - Essay Example As described by Johnson and Duberley ( 2000) Rene Descartes, the 17th century French mathematician and philosopher was the major mover behind the idea of positivism as a concept in philosophy. It was Descartes who first brought in ideas such as using systematic skepticism as a basis for justification in a rational way that was both valid and which could be used to verify available knowledge. This whole concept is described as ‘Cartesian Dualism’.when any attempt is being made to understand nature and events. Another major influence on positivism was the Englishman John Locke ( 1632-1704) who in 1690 , as quoted by Johnson and Duberley ( 2000, page 15) put forward the argument that :- Human beliefs about the external world only became valid when they have survived the test of experience. Galileo and Bacon and later , another philosophic Frenchman, Auguste Comte ( 1798- 1857) ( Stanford Encyclopedia of Philosophy 2007) would have further argued that exacting scientific met hods are the only true ,appropriate, justifiable and legitimate ways in which to accurately determine the facts when it comes to interactions and events and to the understanding of various phenomena. The epistemology of positivism places the focus upon both external internal validity, and upon objectivity as well as reliability (Thorpe and Holt, 2008) There must also be the ability to replicate because of the stress upon the use of scientific research methods and the use of evidence which is empirical. It promotes rigour (Shrivastava, 1994) in delineating the different causes and effects in a systematic way (Donaldson, 2008) and is about the actuality of scientific truth and facts which as verifiable. This has implications when it comes to knowledge creation such as the need to develop laws and theories and ways of testing the authenticity or otherwise of existing methods and theories. Donaldson (2008) argued for functionalism and positivism and pointed out that the way in which an organisation is structured is decided by the totally of the environment in which the organization operates, that is its size, and the products and services it provides, the contingencies. Contingency theory with regard to knowledge production is described by Thorpe and Holt , ( page 59, 2008).† most effective organizational characteristics are those that fit the contingency variables.† They describe structural contingency theory as being studied most often using positivistic methodology. In 2008 Donaldson stated that the ‘determinist picture’ can be comprehended using positivist methods. Although non deterministic factors do affects situations , these leave a gap in knowledge which must be addressed using critical realism. This method maintains that the use of methods which are truly scientific are an attempt to discover truth, but that nothing can be really known absolutely because of the fallibility of both researchers and their tools. Therefore say Thorpe and Holt ( 2008, page 182`) â€Å"Science must  critically evaluate and test its knowledge claims to determine their truth content.†   Interpretivism as a substitute for post positivism In contrast to positivism, the theory of interpretivism states according to Williams ( 2001 cited in Clarke, 2009, p29) that â€Å"there are distinct ‘ways of knowing’ between which there is no way of according common standards.† Interpretivism, sometimes referred to as the hermeneutics approach (Thorpe and Holt, 2008) is about ontology i.e. the metaphysics of nature, as opposed to epistemology i.e. the nature of knowledge. Interpretivism implies no separation between the subject and its researcher. It is a way of enabling researchers to make use of qualitative methods. They use such things as case studies, ethnography and phenomenology. They interpret their situations and behaviour, while at the same time allowing interaction with participants. . Such qualitative meth od

European trade Essay Example | Topics and Well Written Essays - 2000 words

European trade - Essay Example mber states (Austria, Belgium, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom)’. In the near future more states are going to be added to the above list. The decision on the requirements related with the entrance of a new country in the Union is taken within the Union in a relevant meeting of the representatives of the member states. It is this ‘body’ that also decides for the policies followed in all sectors of European Union including the commerce. It should be noticed though that specific criteria should be used for the above decision otherwise the relevant decision can be doubted from the interested parties (potential members of the Union) as of its validity and credibility. On the other hand, in a relevant report published in Social Education (2002, 1) it is noticed that â€Å"the EU has a unique structure; it was created by and is composed of sovereign countries; but it is more than an international organization; it has common institutions similar to those of a national government in that they can enact and implement laws throughout EU territory; these institutions also formulate Europes `common policies, for example in trade, agriculture, transport and the environment, which are paid for by the EUs own budget’. In accordance with the above, European Union has a particular character which is related with the characteristics of the member states. It is for this reason that any decision taken in the context of the community has to be verified by the appropriate ‘body’ in accordance with the nature of issue under examination. The use of treaties for the creation of standard practices in the community is a common practice among the me mber states. Regarding this issue, it is stated by Savage (2001, 46) that ‘treaties and other forms of budgetary agreements create

Instructional Design Skills and Competencies Dissertation

Instructional Design Skills and Competencies - Dissertation Example This includes internal training courses, formal and informal mentoring, certification programs, and externally run training courses. Unfortunately, this is not the case for all faculty. Although these numbers have increased nationwide, when analyzing data from individual schools, there are many faculty who do not receive this training. The specific topic for this research is the skills that are needed for faculty who are involved in online course development, and the training that is needed to assist in this development. 1.4 Research Problem Write a brief statement that fully describes the problem being addressed. Present this in one sentence or no more than one clear concise paragraph. Through the past decade, the number of higher education institutions that offer online courses has increased, and there has been an increase of enrollment in these courses (Allen and Seaman, 2011). In specific colleges and universities, faculty members are faced with developing these courses without f ormal training in many cases. This lack of knowledge indicates a need for increased knowledge and skill building for all teachers developing and teaching online course. According to Allen and Seaman (2011), 65% of institutions surveyed indicated that online course delivery is critical to an institution’s long-term plans. Also, there has been an increase in acceptance of online courses (Carliner & Driscoll, 2009). Faculty is often responsible for creation, development, and management of online classes (Carliner & Driscoll, 2009), without formal training. Devries (2007) states that there is an assumption that ready-made software automates part of course development processes, leaving only the contributions of subject matter experts (SMEs), who are the faculty-designers. This usually is not true in practice. Although the software may use templates and other tools, faculty may lack understanding of how to use them (De Vries, 2007). Faculty-designers are often met with the tasks o f developing and managing course content, facilitating and recording student activity, providing consultation sessions for students with questions and concerns and developing meaningful learning activities (Ally, 2008). The need for faculty training in these areas is well documented (Ally, 2008; De Vries, 2007) and an effective training program to enhance the skills needed must be found. 1.5 Research Purpose Write a brief statement that fully describes the intent of the study or the reason for conducting the study. Present this in one sentence or no more than one clear concise paragraph. The purpose of this study is to understand the needs of faculty designers who teach and design online courses. The findings from this study will provide insight into instructional design skills currently used by faculty-designers of online higher education courses. It will also provide information about skills required to develop and manage online courses from the faculty-designer perspective. The f uture purpose of this research is to design a training program for a higher education institution where faculty need training. 1.6 Research Question(s) (What do you really want to know? The rest of this form derives from and should constantly be

Poems Coursework Example | Topics and Well Written Essays - 750 words

Poems - Coursework Example In as much the poem was almost balanced in three perspective of senses, the sense of smell was least explored. The central message and theme in this poem revolve around change. The persona is an elderly person that re-think on the gone days with nostalgia and admire the days that he was young with strength. The poet has used parallels of the age of persona and the changes in weather where the persona is think his youthful days in terms of spring, when the ice was braking of ice and the summer time when the persona was gaming in hot sun. The changes in weather and climatic condition have been mirrored in the life of the persona who think that he is re-living the gone days. To that effect, the poet wanted to give message on change, how things and event recur but the only thing that change is doing the things that one did in youthful life with the vitality and energy at the elderly age. The change in age is not limited to the setting of the poem but universal though the imagery and parallel are limited to the setting of poem. Stanza one explains the stubborn exploration of human being on earth in a cyclic manner one after the other. There is logging and deforestation that is ongoing where human being re-settle on lands that had earlier been settled on. Stanza two ostensibly explain the exploration and the rational. There is preparation for the season where ploughing is ongoing to plant new crops. The main message on this stanza is that the land was previously owned by someone who sold it. In stanza three, it shows the remnants of machines used to explore the earth that have been rendered useless. They are waiting for the reselling or auction by willing buyers. This emphasizes the cyclic nature of earth exploration. Stanza four is indicative of the claimants who once owned the land but now they are bereaved of their ownership. The â€Å"three lived and played† around the land that is under new ownership. In entirety the owners of the land

Little Richards Influence on Rock N Roll History Essay Example for Free

Little Richards Influence on Rock N Roll History Essay Rock and roll music emerged as a part of American teen culture during the notably conservative time period in the country’s history which shortly followed the traumatic events of World War II. Being that the genre’s target audience was white teenagers, many Americans- already overwhelmed and on-edge due to the anti-communist movement inspired by the Cold War- were apprehensive about the influence that this up-and-coming style of music might have on their country’s future. America’s youth openly accepted rock and roll’s racially integrated culture of performers and embraced the relatively lewd nature of many songs and performances associated with the genre, much to the dismay of their elders. Richard Wayne Penniman (better known by his stage name, Little Richard) had an important influence on the history of rock and roll music because of his unconventional stage presence and explicit sexuality. Artists such as Little Richard aggressively pushed the envelope, defied social norms and generated controversy. Richard, along with a few fellow pioneers, helped to define rock and roll in its early years, and paved the way for rock and rollers of future generations. Penniman’s work left an everlasting impression on the musical genre and culture that is rock and roll. Considering the time in America’s history during which Little Richard appeared on the rock and roll scene, it is completely appropriate to attribute much of his fame and influence to his unconventional stage presence. The rising popularity of television during the 1950’s fundamentally changed the music industry by presenting artists with an entirely new way to market themselves (or be marketed). Being televised meant that the overall look and presence of an artist played a more crucial role in stimulating audiences; the focus of listeners was no longer solely the sound of the music being produced. Prior to T. V. , music fans were only able to enjoy the sounds of their favorite artist by way of radio and the purchasing of records. In many cases, this meant that if a fan had never seen a live performance or record-jacket photo of a particular artist, it’s possible that they had never seen said artist at all and possessed only a general idea (if any) of what that artist looked like. As television sets became an increasingly popular household item for middle-class American families, â€Å"live performances assumed a new importance for performers of rock ‘n’ roll music, and individual artists and vocal roups sought to cultivate visual characteristics or mannerisms that would set them apart from others and encourage listeners to remember them†¦ but no performer in the early years of rock ‘n’ roll was as visually flamboyant as Little Richard,† (Schloss, Starr, and Waterman 1-75). A fan’s perception of an artist or group became subject to their opinion of the overall image of the performance. At this point in time, listening to the music of a completely respectable, clean cut, well dressed African-American was still considered inappropriate by a sizeable portion of white American society- particularly those living in the South and those beyond their teenage years. Many of these people were hesitant to accept racial integration, and tended to proceed cautiously when (or, more appropriately, if) they chose to do so. These are the same people that were unrightfully, but understandably, so frightened by performers like Little Richard. In order to differentiate himself from other rockers of the time, Richard usually wore heavy make-up and sported his famous pompadour hair style. As a former drag queen, Richard was fully aware of the type of reaction his look would draw from audiences; it’s the reaction he hoped to receive. Though, at the time, society as a whole was unsure of how to react to the statement his image made, â€Å"the†¦ ambiguity of Little Richard’s sexual identity†¦ paved the way for the image of performers such as David Bowie, Elton John, and Prince,† (Schloss, Starr, and Waterman 1-75). Just in case his eccentric outward appearance was not enough to gain the disapproval of parents across the nation, Little Richard put on an absolutely wild stage performance which included dramatic eye rolling and his simultaneous hip gyrating and piano playing. In order to dance and play piano at the same time, Little Richard stood (not sat) in front of the instrument- yet another feature of his performance that was specific to him. Little Richard aimed to gain the attention of his fans by creating an entirely original and exciting performance act. In order to do so, Richard created an image that was totally outside of society’s definition of normal, respectable, and safe. His image was only half of his act, though. It’s unlikely that there were many ‘respectable’ white, American parents around in the 1950’s that were comfortable with the idea of Little Richard having any type of influence over the generation deemed the ‘future’ of their country, much less over their specific children. If there had been anyone left straddling that fence, however, contemplating just how harmful a 24-year-old performer with a whacky haircut and face full of make up could really be, it would be safe to assume that they had never actually heard the man sing. The lewd, scandalous lyrics that completed Little Richard’s unorthodox self-presentation would have provided the final push that landed the aforementioned fence straddler on the opposite side of Richard’s performance, and confirmed the popular idea that â€Å"rock’s musical characteristics indicated a general decline in American taste,† (Schloss, Starr, and Waterman 1-75). While teenagers danced to the sounds of the modified twelve-bar blues accompanying Richard’s shouting vocal style and countertenor whoops, parents instinctively cringed in disapproval of the blatantly suggestive lyrics. Hit songs by Little Richard such as â€Å"Tutti-Frutti,† (Penniman, 1955) and â€Å"Long Tall Sally,† (Penniman, 1956) contained lyrics that were generally non-specific, but overall relatively sexual for the time. Richard’s scandalous appearance, behavior, and song lyrics embodied a sexual tension that managed to both intrigue teenage audiences, and inspire fellow performers. It is this same sexual tension that made society at large not only generally uncomfortable, but also concerned about what other ludicrous notions rock and roll would try to impose upon American culture in the future. Little Richard used rock and roll as a platform to rattle the cages of the music industry, and change society’s concept of what was acceptable, what was normal, and most of all what was popular. It was Richard’s unique image and abrasive song content that simultaneously intrigued and shocked American society in the early 1950s. American teenagers of this time appreciated the power of Little Richard’s performance and embraced Little Richard as the new spirit of rock and roll. Unfortunately, â€Å"in 1957 Richard denounced his work and joined the church†¦clos[ing] his most creative period,† (Oxford University Press). Although the momentum of his influence eventually slowed, it never quite stopped. Rock and roll performers such as Jerry Lee Lewis, the Beatles, and the American Creedence Clearwater Revival all provide examples of music inspired by the work of Little Richard, proving the power of his influence and solidifying the lasting impression that he left on rock and roll.

Personal Application Assignment Essay Example for Free

Personal Application Assignment Essay A variety of texts and articles over the past few years have argued for the use of an alternative approach to teaching organizational behavior, one that emphasizes experiential learning. This approach emphasizes an existential, emergent view for learning organizational behavior (McMullen, 1979), where the role of the instructor is that of learning facilitator, responsible for designing experiences for students to base learning upon, rather than as teacher, responsible for lecturing on theory and concepts. While gaining wide acceptance, this approach has nevertheless created problems in the assessment of students performance. Significant learnings in this model of teaching occur not only from the development of concepts, but also from the experiences themselves. McMullen (as well as others) has proposed the use of a personal application assignment to help solve the problem of performance assessment. This assignment is based upon the experiential learning model formulated by Kolb (1971). This model is discussed in more detail in the text chapter on learning styles. Kolbs model argues that learning occurs through a process which might begin with a concrete experience, which leads to reflective observation about the experience. Abstract conceptualization follows in which models, paradigms, strategies, and metaphors are applied to the results of the experience. Active experimentation concludes the cycle as the concepts are then put into practice, thus generating new concrete experience. Figure 1 shows the model more clearly. In one sense, persons able to learn using all four modes of the model will be better able to take away learning from the variety of contexts in which they interact. We feel that the Personal Application Assignment is a useful tool for both evaluation of a students work in courses taught using an experiential approach; and further, that the Personal Application Assignment can serve as a way to help students learn to learn. The PAA is both an evaluation and a teaching technique. Our past history of teaching using this method has shown that the PAA, in order to be most useful, must include clear guidelines for the student. To that end we have undertaken to set forth the guidelines below to help students to understand the requirements for effective PAAs. Guidelines on Grading, Topic Selection, and Confidentiality First of all, we believe that a 20-point grading system simplifies understanding how each component of the paper is graded and weighted. There are five elements to the paper and each normally is weighted equally. These include the four elements in the learning style model and a fifth element that takes into account the introduction, integration, synthesis and general quality of writing in the PAA. The score given in each element depends upon how effectively the student has met all the criteria listed for that section of the paper. For the instructors part, we believe that instructors need to provide specific feedback as quickly as possible to students on why they were awarded points in each area and, more importantly, what they need to do to improve. To achieve these objectives the same summary sheet that guides the grading is provided to the student as feedback. This sheet is attached at the end of this handout. The above paragraph referred to the weighting as â€Å"normally† being equal for all parts of the paper. In cases where the quality of the student writing is clearly below acceptable standards for college- level courses, this component or the entire paper may be given a significantly lower grade. (Preparing a good quality initial draft to be reviewed by a peer will help eliminate this potential problem. An initial draft is not the same as a first draft or rough draft. It should be a version the student has already revised one or more times. Students should be responsible for seeking out help with their writing skills if necessary. Choosing a good topic is essential. Select an experience that relates to the assigned course topics. It should be an experience that you would like to understand better, (e.g., there was something about it that you do not totally understand, that intrigues you, that made you realize that you lacked certain managerial skills, or that was problematical or significant for you.) When students are excited about learning more about the incident, their papers are lively and interesting. The topic must be meaty enough to take it through the entire learning cycle. The incident does not have to be work related; an incident in any setting (sports, school, family, church, etc.) that relates to the course topics is acceptable. You should select a recent experience (not something that happened back in high school). The more recent the experience, the more likely it is that you could take actions that could improve your current interactions with a supervisor, group member, roommate, or other person with whom you have an ongoing relationship. You also may select an experience which is not ongoing if this is more salient to you. Two additional issues should be considered in choosing your topic. The first is confidentiality. Students sometime wish to write on a topic that is of a personal nature. They may be willing for the instructor to read their paper but not want this to be read by other students in the class. This is a reasonable request and confidentiality will be honored. Students who want their paper to be confidential should inform the instructor ahead of time and should write â€Å"confidential† at the top of the paper. There is one exception to the confidentiality rule. If a student describes conduct related to the University where significant University rules or State/Federal laws have been violated by other students or University staff, the instructor reserves the right to bring this issue to the attention of the appropriate administrator to ensure that the situation is remedied. Elements of the PAA 1. Concrete Experience In this part of the paper, students briefly describe what happens in the experience. A simple description of the events which occurred is not sufficient. The feelings experienced by the student as well as his or her thoughts and perceptions during the experience are relevant to this discussion. Another way of looking at the concrete experience would be to recognize that it possesses an objective and a subjective component. The objective part presents the facts of the experience, like a newspaper account, without an attempt to analyze the content. The subjective part is the here-and-now personal experience of the event. This experience is composed of feelings, perceptions and thoughts. Helpful hints: (1) It often helps students to replay the experience in their mind. After reviewing the experience, students should write a report of what they saw, heard, felt, thought, and heard and saw others doing. (2) Students should avoid presenting the detailed mechanics of the experience unless these are critical to the remainder of the paper. This section of the paper should be no longer than 1.5 pages long. (3) Students should avoid reporting the feelings and thoughts experienced after the experience being described. This retrospection is more appropriate in the reflective observation section. Example: We all sat at the table together. Not a sound came from any of us. Finally, after what felt like an hour to me, I simply had to say something. Why are all of you taking this course? I asked. One person, a small foreign looking man said, I needed this course to complete my MBA. Others laughed. Another person, a nicely dressed woman, said, Id like to get an easy A.' I thought to myself: What a bummer! I didnt want to be in a group with people who didnt take the subject matter seriously. When the meeting ended, my perceptions of the group had somehow changed. Maybe this was a good group to be in after all. Some of the members had similar interests to mine, and most of them were nice people that I could see getting along with. I felt somehow hopeful that this semester wouldnt be so bad after all. 2. Reflective Observation The student should ask him/herself: What did I observe in the experience and what possible meanings could these observations have? The key task here is to gather as many observations as possible by observing the experience from different points of view. The main skill to work on is perspective taking or what some people call re-framing. Try to look at this experience and describe it from different perspectives. For example, how did other participants view the situation and what did it mean to them? What would a neutral (objective) observer have seen and heard? If some time has passed since the experience, do you now see the situation differently? Look beneath the surface and try to explain why the people involved behaved the way they did. Reflect on these observations to discover the personal meaning that the situation had for you. Helpful hints: (1) If possible, discuss the experience with others who were involved to gain their views and clarify your perceptions. (2) Unhook yourself from the experience and meditate about it in a relaxed atmosphere. Mull over your observations until their personal meaning comes clear to you. Try to figure out why people, and you in particular, behaved as they did. What can you learn about yourself, looking back on the experience? If you write about a conflict or interaction, be sure to analyze both sides and put yourself in the shoes of the other people involved. Examples: In thinking back on the meeting, I began to see how the group might have taken my comments. My comments were, after all, somewhat aggressive. Some might even call them belligerent. Had I said these things before this class, or at work, I must confess that I would have surprised even myself. But it seemed there was more going on here than met my eye at the time. Sarah and Bob at first didnt seem to be the kind of people to combine forces on this job, so why was I arguing against them this time? Then it dawned on me: Their departments were about to be combined into the same division! Why hadnt I remembered that during the meeting? Many thoughts raced through my head. Was the cause of last nights high that we won the game? Was it the first time we had worked together as a group? Maybe the fact that member X wasnt there that night helped! But I still had a nagging hunch that my involvement, downplayed as it was from previous meetings, helped. 3. Abstract Conceptualization By relating assigned readings and lectures to what you experienced, you are demonstrating your ability to understand conceptually abstract material through your experiences. This process will help you refine your model of people and organizations. While some assigned readings and lectures will have varying degrees of relevance to your experience, it is important that you make several references and not limit your conceptualizing to just one source. Use at least two major concepts or theories from the course readings and cite them correctly e.g,, (Osland, Kolb Rubin, 2001, p. 31). By reviewing the assigned reading material, you should be able to identify several specific concepts or theories that relate to your experience. First, briefly define the concept or theory as you would for someone who was not familiar with it. What issue or problem does the theory examine? What variables are used to analyze the problem and how does the theory explain the link between causal variables and outcomes. What suggestions does the theory give as to effective management practices? Second, in a separate paragraph, apply the concept thoroughly to your experience. The tie-in should include the specific details of how the theory relates to and provides insight into your experience. Try to develop diagnostic questions based on the theory that help you to analyze your situation. Does the theory explain what causes certain behaviors or outcomes and were these causes present in your situation? Does the theory distinguish between effective and ineffective practices that help you to understand your situation? Does the experience support or refute parts of the theory? You are encouraged to suggest modifications to a theory to make it fit your particular situation better. Helpful hints: (1) It is sometimes useful to identify theoretical concepts that interest you first and then search out and elaborate on a personal experience that relates to these concepts. (2) An alternative approach is to select an experience you wish to understand better and then select concepts that apply to your experience. The example below shows how one concept was defined and applied in a student PAA. Abstract Conceptualization Example There are several organizational behavior concepts that help me understand this experience. One is the Thomas-Kilman theory of conflict (Osland, p. 284-285) which is based upon two axes, either the concern for ones own interests or the concern for the interests of the other party. The five styles reflect a low or high position on these two axes and are labeled competition, compromise, avoidance, accommodation, and collaboration. In the incident I described, my coach began with a collaborative style, high concern for both his own interests and the interests of the other party. He tried to work out a solution that would satisfy both of us but I neither saw nor heard his point of view. I just wanted to get my own way and practice in the same way I had on my previous team. I see now that the conflict style I used was the competitive style, high concern for my own interests and low concern for the interests of the other party. Looking back, this is the style I have used most often throughout my life; I usually got away with it before because I was such a good athlete. However, my experience with the coach supports the textbooks description (p. 285) of the losses that may result from using this style. I lost everything when I was kicked off the team and I certainly alienated the coach and the other players and discouraged them from wanting to work with me. 4. Active Experimentation This section of the paper should begin by summarizing what you learned about yourself as a result of writing the paper. What new personal insights and practical lessons did you learn about how to more effectively deal with these types of experiences. Make sure to focus on what you learned about yourself, rather than what you learned about someone else, general situations such as group behavior, or processes such as negotiation. This should be presented in a separate paragraph and not buried within your discussion of an action step. Next you should present four action steps that you will take to make you more effective in the future in these situations. (Future actions must be based on the experience reported in the Concrete Experience.) These actions can be stated in the form of guidelines as to how you would act differently or resolutions as to steps you could take to develop or practice particular skills. You should elaborate in detail how you see your action ideas being carried out. A given step might include several related activities to complete it. Sometimes students have a tendency to list an action step and then shift to explaining why they would take the action without sufficiently explaining the actual behavior they would modify. For example, the statement â€Å"I would strive to communicate better because people feel I don’t listen very well† does not tell a reader very much about what you would do to communicate better. Saying that â€Å"I will strive to communicate better by using active listening techniques where I will paraphrase the other’s viewpoint before presenting my own opinion† is a better indication of how you will carry out this action step. There should be a clear link between your action steps and the concepts presented in the abstract conceptualization section. If the theories you selected provide recommendations for improving management practices, you are encouraged to incorporate these ideas in formulating your action steps. Dont just repeat tips from the text. Try to include at least one action resolution that is based upon new knowledge that you have gained about yourself. If you were to re-live your experience, what would you do differently? What would you do to improve the situation? In past student PAA’s it is often difficult to sort out where one action step ends and another begins. Please provide a separate paragraph for each action step and number or otherwise demarcate the separate action steps. For example, â€Å"First, I would .. My second action step would be † This will help the reader differentiate between action steps and will ensure that you provide four distinct action steps as part of your plan. Explain why you would take these action steps. Why would the selected behaviors be likely to improve the situation? Helpful hints: (1) Project a future experience in which you envision the implementation of your ideas and then elaborate on that experience as a way of demonstrating how your actions will be carried out. (2) Where does this situation exist in your life (home, work, school)? Do you need a support system to make it happen? How will you obtain the cooperation of others to jointly improve the situation? (3) Try to imagine the final results of your experimentation. What will it be like if you accomplish what you want to do? Example of Action Steps: How then can I best utilize and improve my achievement motivation? First, I must arrange for some accomplishment feedback. This will be done by designing or perceiving tasks so that I succeed bit-by-bit, gaining a reward each time and thus strengthening my desire to achieve more. Second, I should look to models of achievement. If people around me succeed, it will further stimulate me. I will ask them how they go about setting realistic goals for themselves and observe how they get feedback from others regarding their performance. Third, I should modify my self-image to include my desire for personal challenges and responsibilities and my requirement of continual feedback. (As a first step, I imagine myself as a person who requires or must have success, responsibility, challenge and variety.) I will seek out situations that are more likely to provide these challenges in the future. Fourth, I must learn to control my reveries. Just beyond the borderline of awareness, many of us are constantly talking to ourselves. While it is fun to fantasize, I will try to make sure my aspirations are realistic given my current skills and time available to accomplish my various goals. I will spend time prioritizing my goals to ensure that I don’t try to do too much or too little. Finally, although I would never admit so, I agree that salary is a potential dissatisfier for me. Therefore, I must insist on what I perceive as a fair return for my performance. I will discuss my salary expectations with my supervisor to ensure I know what is expected and also to ensure that my boss knows my expectations. Wish me luck! Here is another example of a good action step, written by a student who wanted to stop being a passive follower and become more of a leader. I am going to take a more active role in team meetings. I will volunteer to be the team facilitator in at least one meeting during this semester. In all other meetings, I am going to make at least two process interventions to help the team function more effectively. To prepare myself, I am going to carefully observe other students who are excellent leaders, and I will read two articles on team leadership. I will also design an evaluation form on my team participation and ask my team to use it to evaluate me after the meeting I facilitate. Based on their feedback, I will continue working on possible weak areas during the rest of this course. 5. Integration and Writing The well written PAA has a focal issue and a story line with themes that are carried throughout each of the four sections. The idea of synergy applies here: The whole is greater than the sum of the parts. If integration is present, then the reader can attend to the content without distraction; if integration is absent, barriers prevent the reader from gaining a full appreciation of the content. Are the major themes that you have identified integrated throughout your paper? Make sure that the reflective observation takes into account the viewpoint of all the key people cited in the concrete experience. Do the concepts cited in abstract conceptualization fit well with these observations? Is there a clear link between the concepts or theories that you cite and the subsequent action steps that you formulate? Citing the theories is not just meant to be an academic exercise it should help guide the analysis of the situation and the planning of practical steps for improving future situations. Other barriers that prevent the reader from fully appreciating the papers content are spelling and grammatical errors, as well as the overall appearance of the final document. Since good writing skills are so important in the business world, there should be no errors in your paper. Use the spell check (and grammar check) on your computer before you hand it in. Sometimes reading a paper aloud will indicate where sections of a paper may need revision to simplify awkward or unclear sentences.