Essay on History of Disparity in Development - 650 Words

History of Disparity in Development Human is one of few creatures of mother earth that can think and decide what is right or wrong. Due to that special characteristic, people are always curious about something and try to find the reason about it. In 1974, Jared Diamond was staying in Papua New Guinea, and one day, a local named Yali asked Diamond a deceptively simple question â€Å"Why is it that you white people developed so much cargo, but we black people had little cargo of our own?† (NGO, 2005) Jared thought it was very interesting question and made a research for more than 20 years. As a result, Jared was able to find his own conclusion and wrote a book call â€Å"Guns, Germs, and Steel† based on knowledge he gathered from different places of†¦show more content†¦People started using plows using animals and animal’s dung worked as a great fertilizer. Meanwhile animals in Papua were not that useful. All they did was just providing meat. Due to that, people in Papua needed to spend more time on gathering food while people in Fertile Crescent started to develop day by day. People in Fertile Crescent now had more people and they were able to feed technicians who work with irons. This made huge difference in technological development. There are some other theories of human development. The most popular theory is about water (Marrone, 2014/02/04). The key role water plays in human development is well accepted (Donoso, 2009) throughout the world. Unlike Diamond’s theory, people who support the theory that water is a main factor say domestication was possible because of existence of water and support with 3 different examples. First example is in 11500 years ago, people didn’t have technology to pump the water, so they had to use their hand in order to provide water to plants and animals. Due to that, people naturally moved to the region that is close to the water (Briggs, 2009 and 2014/02/03). Second example is, in ancient world, people’s average life expectancy was 20 years (Galor/ Moav, 2007), it is caused by many reasons, but the main reason was disease. By washing their body everyday with water made them cleaner and healthier than before. Longer lifespan means moreShow MoreRelatedThe Rural U rban Gap And The Policy Response Essay1689 Words   |  7 Pages ABSTRACT The rural-urban gap in development attainment has attracted the attention of many economists. Lewis, Fei-Ranis, and Harish-Todaro models focus on the rural-urban dualism in underdeveloped economies and proceed to illustrate how the economies get transformed in the process of development. When India attained independence in 1947, it was a predominantly rural, agricultural and colonially exploited poor country. 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The Success Of An Entrepreneur - 1209 Words

We live in a country where entrepreneurs who are willing to put themselves out there and work hard to accomplish their goals can find success in the current economy. An entrepreneur is defined as, â€Å"A person who risks time and money to start and manage a business† (Nickels, McHugh, McHugh 4). Being an entrepreneur is something that interests me for what I would like to do after getting out of the Army. If I was to start my own business it would be a bar and grill in the town of Sierra Vista, which is located close to Fort Huachuca. I would name it JJ’s Bar and Grill and create an environment that caters to soldiers and their families. I would like this business to focus on providing to service members of the past and present. There are too many establishments in this area that take advantage of soldiers and don’t understand what they go through. I’d like to design a business that provides food and drinks to everyone at a reasonable price and is a plac e where soldiers feel safe and comfortable. The first steps of opening this establishment would be deciding on a location and getting the proper licenses to open the business. A good location is essential to any successful business. An article from smallbusiness.chron.com states, â€Å"You do not want to spend the time and money to open your bar only to find out the neighbors want to shut you down every night† (Root, George III smallbusiness.chron.com). Having the support of the community is vital when running a bar. You have toShow MoreRelatedThe Success Of An Entrepreneur1652 Words   |  7 PagesWhenever you get in your car in the morning, or go to the movies or dinner, thank an entrepreneur. When you go to work to earn a living, thank an entrepreneur. When you pick up your groceries from the store, thank an entrepreneur. 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Analytical Ratios and Various Key Performance Indicators

Question: Describe about the Analytical Ratios and Various Key Performance Indicators. Answer: Introduction The financial structure of the company is been designed in such a way that it reflects the going concern assumption of the enterprise. This report discusses the financial profile of the worlds renowned and largest beverage company Coca-Cola that are worldwide distribution network managed through independent bottling partners, wholesalers, distributors and other ventures (Kourovskaia and Meenaghan, 2013.). The report addresses the financial performance of the company during the past ten years through the use of analytical ratios, graphical representations and other key performance indicators. Main Report Coca-Cola- At a Glance Been the worlds largest beverage company, it serves more than 500 non-alcoholic brands that include sports drinks, juices, water, coffees, and a variety of juices. Companys success depends on its ability to gain customers preference over the variety of drinks they desire and commitment of the management to lead innovation consistently. Market Segment Company operates in following market segment: Growth of the company In 2015, the company has expanded its operation to Louisville, Paducah and Pikeville, Ky.; Evansville, Ind.; Cookeville and Cleveland, Tenn.; Norfolk. During the past two years, companys customer base is been extended to approximately 33 million people in 14 states. RATIO Type 2015 ended In million 2014 ended Profitability Ratio Gross Profit Ratio = Gross Profit/Sales * 100 = (2306.45-1405.42) * 100/ 2306.45 = 39.07 % 40.38% (3.2)% Profitability Ratio Net Profit Ratio = Net Profit/Sales * 100 = 59.002 *100/ 2306.45 = 2.56 % 1.8 % 42.22% Liquidity Ratio Current Ratio = Current Assets/ Current Liabilities = 436.022/ 326.55 = 1.34 times 1.26 6.35% Liquidity Ratio Quick Ratio = Quick assets/ Current Liabilities = (436.022-89.464) / 326.553 = 1.06times 0.95 11.58% Efficiency Ratio Inventory Turnover = Cost of goods sold/ Average Inventory 1405.426 / (70.74+89.464/2) = 17.55 15.69 11.85 % Efficiency Ratio Cash conversion cycle 32.93 +20.8-42.07 = 11.66 = 14.06 (17.07%) Investment Ratio Return on net assets= NET Income* 100 / Total Assets = 59.002 * 100 / 0.5( 1433.076+1850.816) = 3.59 % = 2.31% 55.41% Investment Ratio Return on capital Employed= NOPAT * 100/ Average capital = 64.41 * 100 / (678.32+867.22/2) = 8.33% = 8.44% (1.30%) Gearing Ratio Debt to Equity = Total Debt/Total Equity = (7.063+672.6) / 243.056 = 2.8 times = 2.74 (2.19)% Gearing Ratio Interest Coverage Ratio= Operating Income/ Interest expense NA 2.94 Interpretation: On the basis of provided computation, the financial performance of Coca-Cola bottling company for the year 2015 and 2014 can be interpreted. Profitability ratio of the company shows that they are earning gross profit between 30-40%. However, in comparison to previous year, this percentage has been reduced. However, overall profits of the company have been increased. This aspect shows that management of Coca-cola is making improvement in their operational performance by enhancing efficiency. They had efficiently attained the point of break even and are earning good profit margins (Consolidated financial statements, 2015). On the basis of liquidity ratios, it can be said that company is able to meet up requirements of working capital. However, the current ratio is not adequate as per standard ratio but the company is improving this figure by making use of appropriate working capital management techniques. Similar to this, efficiency ratios of the company is also increasing as there is the growth of 11.87% in inventory turnover and cash conversion cycle has been reduced by 17.07%. This aspect shows that company is accomplishing operational activities with higher efficiency. By considering the investment ratio of Coca-cola it can be said that company had delivered reduced returns to stakeholders in comparison to previous year. This factor shows that company is overall efficiency has been improved as return on assets has substantially increased by 56% in current year. The gearing ratio shows that company had introduced more debt to cope up with funding requirements of business. However, increasing debt is favourable position as in adverse situations company has to face financial crisis. On the basis of this factor, the company is recommended to generate lucrative returns for capital contributors. Financial factors Market Performance Companys market performance can be assessed by reviewing its stock prices over different years and observing the increasing and decreasing trend (Brigham and Ehrhardt, 2013). Key metrics to view the trend in companys common stock can be viewed by calculating PE ratio. Pe Ratio Last 10 years PE ratio is tabulated below that show the companys market performance: PE ratio = Share Price / Earnings per share Year 2006 07 08 09 10 11 12 13 14 15 PE Ratio 26.94 27.01 58.92 14.96 15.83 18.95 22.62 24.64 26.2 28.83 Consistent increase in PE ratio of the company is a sign of high market price and the investors perception that company will do well in future and has good prospects for future. Year ended December 2015 has brought PE ratio to 28.83 times. Revenue Companys revenue for the last ten years is been tabulated below: Year ended December 2006 07 08 09 10 11 12 13 14 15 Revenue ($Million) 1431 1436 1464 1443 1515 1561 1614 1641 1746 2306 Observing the previously mentioned increasing trend of revenue of the company, reasonable conclusions can be drawn about the going concern assumption of the company and growth rate. Its revenue has risen from $1431 million in 2006 to $2306 million thereby showing a net increase of 37.94 % which is a sign of favourable prospects of the company in the future. Operating Income Companys operating income for the last ten years is been tabulated below: Year ended December 2006 07 08 09 10 11 12 13 14 15 Income ($Million) 85 82 59 95 96 88 89 74 86 98 The increase in revenue has led to a similar trend in operating income and margin of the company eventually. Observing the tabulated increasing trend of operating income of the company, reasonable conclusions can be drawn about the operating profitability of the company and its growth rate. Its operating income has risen from $85 million in 2006 to $98 million thereby showing a net increase of 15.29 %, which is a sign of favourable prospects of the company in the future. Earnings Per share Company has generated the following earnings per share during the past ten years: Year ended December 2006 07 08 09 10 11 12 13 14 15 EPS $ 2.55 2.18 0.99 4.16 3.93 3.11 2.95 2.99 3.38 6.35 Investors are keen to infuse additional funds in the company in view of the constant increase in earnings per share of the company. Since 2006, there has been an increase of 149% in the year 2015 to 6.35 per share. Dividend Similarly like earning per share, a lucrative earning in the form of a cash dividend or bonus shares attracts investors to maintain their capital contribution in the long run and do not withdraw funds despite having low returns in the short run (Yelkikalan and Kse, 2012). Coca-Cola has been consistently providing dividend per share of $1 per share past 10 years. As per recent dividend trends are concerned, bottling companys dividend per share for the three months for the year ended in March 2016 was $0.25. Stock price Market capitalization Market capitalization is the total market value of the company and indicates the price that is the least price to buy the concerned company. In analytical terms, it is equal to the share price multiplied by the number of shares outstanding (Gardner, McGowan and Susan 2012). Coca-Cola bottlings share price for the recent quarter ended in March 2016 was $159.76. The company has consolidated shares outstanding (EOP) for the quarter ended in Mar. 2016 amounting to 9 Million. Therefore, market capitalization for the quarter ended in Mar. 2016 was $1,484 Mil. Year ended December 2006 07 08 09 10 11 12 13 14 15 Market cap 623 537 420 495 511 539 614 677 816 1696 Capital structure This is been represented by undermentioned parameters. Long-term debt to Asset Ratio: Year ended December 2006 07 08 09 10 11 12 13 14 15 LT debt to Asset 0.49 0.52 0.37 0.47 0.44 0.35 0.36 0.34 0.35 0.36 The company is been substantially financed by debt whose average comes to 35% during the past ten years. Leverage Financial leverage is indicated by the following ratio: EBIT /EBT = 128.037/99.122 = 1.29 times The company has sufficient funds to meet the tax interest expense and do not lead to dilution of earnings per share. Stock price Year ended December 2006 07 08 09 10 11 12 13 14 15 Share price at year end $ 47.88 59 42.72 54.25 62.85 67.53 37.24 37.82 41.17 42.92 By considering the stock price of the company it can be noticed that in initial five years there were high fluctuations but in later part financial performance of the company is stable and they had maintained steady growth. Conclusion Based on discussions and interpretation made as to the financial profile of the company through the use of analytical ratios and various key performance indicators, it is been said that company has substantially improved its operations during the past 10 years and eventually its market capitalization. As far as the going concern assumption of the company is concerned, the parent company and its subsidiaries (listed) are doing well in business. On an overall basis, the investors can maintain their capital contribution till the long-run as market capitalization has been increased from $623million in 2006 to $1696million in 2016 and eventually led to wealth maximisation of capital contributors. References Books and Journals Kourovskaia, A.A and Meenaghan, T., (2013). Assessing the financial impact of sponsorship investment. Psychology Marketing, 30(5), Pp.417-430. Wolf, R., (2014). Corporate Social Responsibility: Contribution to All. Journal of Empowering Organizations through Corporate Social Responsibility, Pp.255. Brigham, E.F and Ehrhardt, M.C., (2013). Financial management: Theory practice. Cengage Learning. Akhter, N., Rafique, A and Usman, M., (2016). Organization Structure and Firm Performance in Financial Development for Perspective in Coca-Cola Beverages in Pakistan. International Review of Management and Business Research. 5(2). Pp.494. Gardner, J.C., McGowan, C.B and Susan Jr, E.M., (2012). Valuing Coca-Cola using the free cash flow to equity valuation model. Journal of Business Economics Research (Online). 10(11). Pp.629. Yelkikalan, N and Kse, C., (2012). The effects of the financial crisis on corporate social responsibility. International Journal of Business and Social Science. Pp. 3(3). Online Consolidated financial statements. 2015. [Pdf]. Available through file:///C:/Users/Prateek%20porwal/Desktop/bhumika/20%20july/2015%20Annual%20Report%20-%20FINAL%20from%20Classic.pdf. [Accessed on 21st July 2016].

The Fifteenth Amendment free essay sample

A description and an overview of the Fifteenth Amendment and its enfranchisement and suffrage clauses. This paper examines the Fifteenth Amendment of the United States Constitution. The writer describes the enfranchisement and suffrage laws passed though in reality still denying black people and women the privilege to exercise their right to vote. This paper provides an overview of their struggle to regain their right to vote as well as of the development of women suffrage conventions and other women and black movements. That right, that sets democracies apart from other forms of government, was of course denied to most Americans at the time the Republic was founded, and it would take 150 years for most Americans to become legally enfranchised. It would another half century almost for the practical (although not legal) barriers against black enfranchisement to take effect. This paper examines the 15th Amendment to the United States Constitution and something that was both an act of great social justice and an act of great social iniquity the simultaneous enfranchisement of black men after the Civil War the formal and intentional disenfranchisement of all women in the middle of the 19th century. We will write a custom essay sample on The Fifteenth Amendment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page