Metaphors That Justify War :: essays research papers fc

Metaphors that Justify War Truth Uncloaked Do you think we had all the information that was at the President's disposal when he made the decision to deploy our troops in the Gulf? Do you think having that information might have made you feel more comfortable about our involvement? Should our government decide what we get to know and what we don't? By in large, we hear exactly what our government wants us to hear. Knowing this, at no other time paralleled in history, we want the truth; we thirst for it like those traveling through the desert without water and we are tired of being manipulated and deceived by those we elect to serve our interests. However, more often than not, we settle for what is given to us. Our truth is wrapped by the media and promoted as gospel without hesitation or moral reservation. Our acceptance of and reliance upon the media for sensitive, truthful, information brings a sense of security and knowledge of world affairs that satisfies our internal push for social involvement (even if it is at the point of acknowledgment only). We are happy with the knowledge because there is no discernible contradictions and seldom question its relevancy, focus or content. Then later, a contradictory report erupts in the media and we begin to question even what we see. The short footage shown by the media concerning the beating of Rodney King was out of context. Who is responsible for the disparity? The media. They decide what we hear and see. They manipulate to dramatize for the dollar. Gossip, murder, rape, political espionage, treason, drug deals, incest, wife battering, muggings, immoral behavior of all sizes shapes and volumes seem to appeal to human interest and the Networks use it to build their ratings while claiming they proclaim truth for all (double effect). These people and their focus gave us the Gulf War everyday, around the clock. Would it be surprising to know that the media not only reports the news they help facilitate public approval that could justify a war through the use of metaphors alone? The use of metaphors in war and everyday life is common and an important method employed to eventually arrive at a position of approval for military action. Before the use of metaphors is discussed it is necessary to understand specific conditions in which any war is justified. Conditions Necessary to Justify a War Two specific conditions are necessary to justify war. First, direct aggression against the United States, our allies, or those who are unable to protect themselves against direct aggression.

Indian Automobile Industry Essay

A. Introduction The Automotive Industry in India is one of the larger markets in the world and had previously been one of the fastest growing globally, but is now seeing flat or negative growth rates. India’s passenger car and commercial vehicle manufacturing industry is the sixth largest in the world, with an annual production of more than 3.9 million units in 2011. According to recent reports, India overtook Brazil and became the sixth largest passenger vehicle producer in the world, grew 16 to 18 per cent to sell around three million units in the course of 2011-12. In 2009, India emerged as Asia’s fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand.In 2010, India beat Thailand to become Asia’s third largest exporter of passenger cars. As of 2010, India is home to 40 million passenger vehicles. More than 3.7 million automotive vehicles were produced in India in 2010 (an increase of 33.9%), making the country the second (after China) fastest growi ng automobile market in the world in that year. According to the Society of Indian Automobile Manufacturers, annual vehicle sales are projected to increase to 4 million by 2015, no longer 5 million as previously projected. The majority of India’s car manufacturing industry is based around three clusters in the south, west and north. The southern cluster consisting of Chennai is the biggest with 35% of the revenue share. Chennai, with the India operations of Ford, Hyundai, Renault, Mitsubishi, Nissan, BMW, Hindustan Motors, Daimler, Caparo and PSA Peugeot Citroà «n is about to begin their operations by 2014. Chennai accounts for 60% of the country’s automotive exports. The western hub near Mumbai and Pune contributes to 33% of the market. The Chakan corridor near Pune, Maharashtra is the western cluster with companies like General Motors, Volkswagen, Skoda, Mahindra and Mahindra, Tata Motors, Mercedes Benz, Land Rover, Jaguar Cars, Fiat and Force Motors having assembly plants in the area. Nashik has a major base of Mahindra & Mahindra with a SUV assembly unit and an Engine assembly unit. Aurangabad with Audi, Skoda and Volkswagen also forms part of the western cluster. The northern cluster around the National Capital Region contributes 32% of the Indian market. Gurgaon and Manesar in Haryana form the northern cluster where the country’s largest car manufacturer, Maruti Suzuki is based. Another emerging cluster is in the state of Gujarat with manufacturing facility of General Motors in Halol and further planned for Tata Nano at their plant in Sanand. Ford, Maruti Suzuki and Peugeot-Citroen plants are also set to come up in Gujarat. Kolkata with Hindustan Motors, Noida with Honda and Bangalore with Toyota are some of the other automotive manufacturing regions around the country. B. Major Players The Major Market Players C. Product Segmentation While there are multiple ways of segmenting this industry like based on price and engine size but the most prevalent and the official method is based on dimension. i.e. the length of the vehicle under consideration. A1 Segment – Mini – Up to 3400mm (M800, Nano) A2 Segment – Compact – 3401 to 4000mm (Alto, wagon r, Zen,i10,A-star,Swift,i20,palio,indica etc) A3 Segment – Midsize – 4001 to 4500mm (Manza, City, Sx4, Dzire, Logan, Accent, Fiesta, Verna etc) A4 Segment – Executive – 4501 to 4700mm (Corolla, civic, C class, Cruze, Optra, Octavia etc) A5 Segment – Premium – 4701 to 5000mm (Camry, E class, Accord, Sonata, Laura, Superb etc) A6 Segment – Luxury – Above 5000mm (Mercedes S class, 5 series etc) B1 Segment – Van – Omni, Versa, Magic etc B2 Segment – MUV/MPV – Innova, Tavera, Sumo etc SUV Segment – CRV, Vitaraetc While it is easy for SIAM to segment the vehicles as per dimensions but for consumers, it becomes a tad difficult. This is primarily because of the widely varying / spread out prices of the vehicles. A 2 segment, as per the above criterion, will range between 3 lakhs to 7 lakhs. And A 3 will be between 4.5 to 9 lakhs. Such wide variation in prices has distorted the image of segments in the minds of consumers. Hence, for simplicity purposes, a different segmentation has cropped up. The details are as follows:- A Segment – Approximately below 3.5 lakhs – Alto, Eon, Nano, Spark, 800 B 1 Segment – Hatchback largely below 6 lakhs – Wagon R, Indica, Beat, Santro, A Star, Micra, Estilo B 2 Segment – Hatchback majorly below 7.5 lakhs – Swift, I 10, I 20, Ritz, Figo, Polo, Liva, Vista, Jazz, Punto, Brio, Fabia, Pulse, Aveo UVA C 1 Segment – Sedan below 8 lakhs – Dzire, Indigo, Etios, Sunny, Fiesta Classic, Verito, Accent, Ambassador, Aveo C 2 Segment – Sedan below 9.5 lakhs – Linea, Manza, Verna, Rapid, Vento, City, SX 4, Verna New, Optra D 1 Segment – Premium Sedan below 15 lakhs – Corolla, Civic, Cruze, Laura, Jetta, Fluence D 2 Segment – Luxury Sedan below 25 lakhs– Superb, Passat, Accord, Camry, Sonata, Teana, Kizashi B1 Segment – Van – Omni, Versa, Magic etc B2 Segment – MUV/MPV – Innova, Tavera, Sumo etc SUV Segment – CRV, Vitaraetc If we analyze the 1st Quarter of 2012-13, then total vehicle sales has been around 6.32 lakh units. The hatchback segments has totaled to 56% of the entire passenger car sales in India. This comes to 355857 units. This clearly shows the popularity of smaller cars in the Indian market. Alto continues to be the top selling brand with 17422 in July. It is followed by Swift (11421) and Wagon R (9582) – all Maruti brands. This is an indication of how well the Maruti team has understood the Indian market. i 10, I 20, Nano, Beat, Figo, Santro& Polo are some of the high selling models in these segments and these models continue to clock more than 3000 units monthly. Nano has been a disappointment so far with huge expectations but it is showing some kind of resilience off late. As a segment, the Utility segment is showing the maximum growth. In fact, this segment has outclassed the other popular segments of A, B 1 & B 2. With 128110 units under its hood in the 1st quarter, the segment is definitely making some good progress. Maruti’sErtiga, Mahindra’s XUV 500 & Bolero has been instrumental in pushing the volumes of this segment. Innova and Omni too are raking in good numbers. What has been disappointing is the performance from the Tata Motors stable Venture, Safari and Sumo have been showing steady decline in the numbers per se but definitely possess huge potential to challenge the other models. Among the sedans, Maruti Dzire continues to lead the pack. With 11413 numbers in July, it is way ahead of its next model Verna (5300). The iconic models of City, Linea, SX4 have been showing consistent under growth and seriously calls for some introspection by their respective manufacturers. Vento & Rapid also showed some slack but given the aggression of VW and Nissan, it wont be long before they start to pull in good numbers. Tata’s Indigo and Manza were on a slightly negative terrain all these months but somehow the trend has been reversed in July. 6816 for these 2 models augurs well for the company. D. Indian Automobile Industry : Barriers to Entry (and Exit) Barriers to entry (or, BTE) are anything that hinders the movement of firms into an industry. That is, BTE reduce or eliminate the entry of new businesses into an industry. Sometimes BTE can be almost insurmountable: no new firms can enter an industry. Other times BTE can slow down the entry of new firms: new firms appear but only slow. Very low BTE, however, means that new firms can enter the industry relatively rapidly. What can act as a BTE ? 1. Amount of capital The amount of capital required to enter the auto industry is in billions of dollars. So, very few outsiders can ever hope to enter the industry. This major financial requirement services as a significant barrier to entry for many industries. The auto manufacturing industry is considered to be highly capital and labor intensive. The major costs for producing and selling automobiles include: * Labor While machines and robots are playing a greater role in manufacturing vehicles, there are still substantial labor costs in designing and engineering automobiles * Advertising Each year automakers spend billions on print and broadcast advertising, furthermore, they spent large amounts of money on market research to anticipate consumer trends and preferences 2. Limited capacity of parts suppliers Existing parts suppliers have downsized their operations to the point that they do not have excess capacity. 3. Competition There are already significant numbers of well established competitors. 4.Government regulations The stringent regulations regarding safety, design, emission standards and fuel efficiency may sometimes act as a deterrent. 5. Patent protection laws This may prevent the use of certain innovations at low cost. 6. Marketing Marketing a new brand can be difficult and very expensive. 7. Economies of scale Economies of scale give large producers a significant cost advantage over small rivals. Where a firm has grown very large and significant economies of scale exist, they can have cost competitiveness. New entrants generally start small and therefore, have much higher unit production costs than the giant firms. These new, small entrants find it nearly impossible to survive against the large rival because they just can’t be price competitive given their much larger unit production costs. 8. Entry-deterring behavior A firm can protect itself from competition by deliberately acting in a way that convinces potential competitors not to enter the industry. Some firms spend huge amounts of money on advertising to keep new rivals from starting up business. Or, firms can act exceedingly aggressive if faced with new competition by perhaps starting a major price war every time a new competitor enters their market. Lawsuits against new rivals have been used to drive them out of business or to, at the very least, raise the cost of entering the business to very high levels. 9. Knowledge and Technology Ideas and Knowledge that provides competitive advantage over others when patented prevent others from using it and thus creates barrier to entry. For eg. TATA motors have great knowledge/ experience in the automobile industry and have renowned technological advantage because of the recent acquisition and mergers. 10. Product Differentiation and Cost Advantage The new product has to be different and attractive to be accepted by the customers. Attractiveness can be measured in the terms of the features, price etc. For an entrant to attain this, it requires lot of effort as compared to an established player. TATA Nano is an example where till now, no new entrant has entered as a competitor. Barriers to Exit: Obstacles or impediments that prevent a company from exiting a market. A company may decide to exit a market because it is unable to capture market share or turn a profit or for some other reason altogether. High barriers to exit might force it to continue competing in the market. The factors that may form a barrier to exit include: 1. High investment in non-transferable fixed assetsThis is particularly common for manufacturing companies that invest heavily in capital equipment which is specific to one task. 2. High redundancy costsIf a company has a large number of employees, employees with high salaries, or contracts with employees which stipulate high redundancy payments (layoff costs), then the firm may face significant cost if it wishes to leave the market. 3. Other closure costs. Contract contingencies with suppliers or buyers and any penalty costs incurred from cutting short tenancy agreements. 4. Potential upturn Firms may be influenced by the potential of an upturn in their market that may reverse their current financial situation. 5. Government policies In India, the Industrial Disputes Act, 1947 puts restrictions on employers in the matter of reducing excess staff by retrenchment, by closure of establishments and the retrenchment process involved lot of legalities and complex procedures. Also, any plans of retrenchment and reduction of staff and workforce are subjected to strong opposition by trade unions. E. Role of Non-Pricing Competition Non-price competition refers to firms competing with one another not in terms of reducing the price to attract consumers instead, in form of brand name, advertising, packaging, free home- delivery, free service, sponsorship deals and so on. These are the different forms of non-price competition. The main aim of non-price competition is product development. As products are differentiated in monopolistic competition, to prove and show how ones product is superior than others- colour, appearance, packaging, skill level etc. It is been done to create an inelastic demand for the product. Following parameters can be used for competition instead of reducing cost: Quality: If consumers must choose between two products of the same price but they can see that one is of a higher quality, they generally pick the product of higher quality. In this way, if a firm can figure out how to produce an item at a cost comparable to what its competitor charges but make it of higher quality, that firm may be able to steal the market from its competitor. Now in case of automobiles, within a given price range people generally don’t comprise with the quality aesthetics. For example : Recalls of vehicles sold. Recently, Honda Cars India Ltd recalled 42,672 units of second generation Honda City cars manufactured in 2007 and 2008 to replace their power window switch. HCIL carried out preventive part replacement of power window switch. The company is proactively replacing Power Window Switch which may malfunction in case water or any other liquid enters the driver side window. Honda Cars India is carrying out the part replacement as part of a global exercise by Honda Motor Company to ensure stringent quality standards for its products. However, a problem with this approach is that it may take some time for consumers to realize any difference in quality. Perception and Branding: In some cases, little possibility of quality differentiation exists between two products. However, the long-term sustainability of such an approach may be difficult because, as such brand advantages arise through consumer trends, consumer trends may also lead to their demise. We can take example of Hyundai’s Eon and Maruti’s Alto 800. Maruti being a well-known brand it was difficult for Hyundai Eon to compete with it. Hyundai India offers its Eon fleet within a price bracket of Rs. 2.8 to Rs. 3.8 lakhs in the country. Maruti Suzuki has pitched its Alto 800 models with a slightly humble pricing falling in the range starting from Rs. 2.4 lakhs that goes on till Rs. 3.6 lakhs in the Indian auto market. Sales Comparision between Maruti Suzuki Alto 800 and Hyundai Eon Source: http://blogs.hindustantimes.com/car-nama/2012/07/13/alto-vs-eon-eight-months-on/ Product Design: In some cases, firms may compete by changing the design of their products to make them more appealing without significantly changing production costs or quality levels. Such a strategy can prove effective at stealing business from competitors, but it can also backfire, because it can cause the company to alienate its existing consumers, who may be knowingly choosing the existing design over other products with different designs specifically because it appeals to their tastes. Product Differentiation: Not all consumers are the same. By offering a range of similar products geared toward different market sectors, firms can expand their market base. However, such product differentiation can result in significantly higher overhead costs for production. For example every model has variants in following aspects: Fuel used (petrol, diesel, LPG, CNG) Cost varients (low end to high end with addition of features like sunroof, airbags etc.) Model| Price (INR)| Mileage| Volkswagon Vento PetorlTrendline| 7,29,000| 15.04| Volkswagon Vento Petrol Comfortline| 7,75,805| 15.04| Volkswagon Vento Petrol Style Limited Edition| 8,10,805| 15.04| Volkswagon Vento Diesel Trendline| 8,44,000| 20.54| Volkswagon Vento Petrol Highline| 8,74,805| 15.04| Volkswagon Vento Diesel Comfortline| 8,90,805| 20.54| Volkswagon Vento Diesel Style Limited Edition| 9,25,805| 20.54| Volkswagon Vento Petrol Highline AT| 9,74,805| 14.4| Volkswagon Vento Diesel Highline| 9,89,805| 20.54| Sales Structure: When two firms are competing with similar products, one may be able to enjoy more market share and a deeper level of penetration due to a more effective and aggressive sales structure. By engaging in direct sales, firms can appeal to prospective buyers who otherwise would not feel compelled to buy due to advertising or other kinds of marketing. Multilevel marketing is one way in which firms rapidly build their consumer base. However, by turning buyers into sellers as well, such schemes may require significantly higher prices. A typical supply chain in Indian Automobile Industry Source: ImaginMor, Inderscience Enterprises Ltd and United Nations Industrial Development Organisation The description and the role of each of the contributors to the supply chain are discussed below. Third Tier Suppliers: These companies provide basic products like rubber, glass, steel, plastic and aluminium to the second tier suppliers. Second Tier Suppliers: These companies design vehicle systems or bodies for First Tier Suppliers and OEMs. They work on designs provided by the first tier suppliers or OEMs. They also provide engineering resources for detailed designs. Some of their services may include welding, fabrication, shearing, bending etc. First Tier Suppliers: These companies provide major systems directly to assemblers. These companies have global coverage, in order to follow their customers to various locations around the world. They design and innovate in order to provide â€Å"black-box† solutions for the requirements of their customers. Black-box solutions are solutions created by suppliers using their own technology to meet the performance and interface requirements set by assemblers. First tier suppliers are responsible not only for the assembly of parts into complete units like dashboard, breaks-axel-suspension, seats, or cockpit but also for the management of second-tier suppliers. Automakers/Vehicle Manufacturers/Original Equipment Manufacturers (OEMs): After researching consumers’ wants and needs, automakers begin designing models which are tailored to consumers’ demands. The design process normally takes five years. These companies have manufacturing units where engines are manufactured and parts supplied by first tier suppliers and second tier suppliers are assembled. Automakers are the key to the supply chain of the automotive industry. Examples of these companies are Tata Motors, Maruti Suzuki, Toyota, and Honda. Innovation, design capability and branding are the main focus of these companies. Dealers: Once the vehicles are ready they are shipped to the regional branch and from there, to the authorised dealers of the companies. The dealers then sell the vehicles to the end customers. Parts and Accessory: These companies provide products like tires, windshields, and air bags etc. to automakers and dealers or directly to customers. Service Providers: Some of the services to the customers include servicing of vehicles, repairing parts, or financing of vehicles. Many dealers provide these services but, customers can also choose to go to independent service providers. The increased usage of IT at different tiers of the supply chain is on the increase in all the companies in India. An important finding that emerged from the findings was that the integration of supply chain is being done at all the cities in the country i rrespective of the market share. F. Key Developments in Indian Auto Sector Major Developments & Investments * Nissan Motor India Pvt Ltd is expecting to sell over 60 per cent more units this year on the back of the launch of its upgraded small car – Nissan Micra * Daimler India Commercial Vehicles (DICV) exported its first lot of 64 Fuso trucks manufactured at its Oragadam plant in Chennai. * Mahindra USA, a subsidiary of Mahindra and Mahindra (M&M), will set up an assembly and distribution centre, expanding one of the four tractor facilities in North America, by January 2014 * The Japan-based automobile manufacturer Isuzu Motors’ local subsidiary Isuzu Motors India has entered into an agreement with Hindustan Motors (HM) for contract manufacturing of Isuzu SUVs and pickup trucks * A year after introducing the popular ‘MINI’ range of cars in India, luxury car maker BMW has started local production of ‘MINI Countryman’ at its facility in Chennai * New Holland Fiat India plans to invest Rs 1,100 crore (US$ 184.56 million) to set up a new green-field pl ant in Maharashtra and also to increase its tractor manufacturing capacity by 50 per cent in the next three years * Hero MotoCorp has bought a 49.2 per cent stake in its US-based technology partner Erik Buell Racing (EBR) for US$ 25 million. This is Hero MotoCorp’s first-ever equity purchase in an overseas company. Also, Hero MotoCorp has entered into the African continent with launch of its brand and products in Kenya, where it has also set up an assembly unit. The company has also partnered with Ryce East Africa to sell its two-wheelers in the country * Daimler is developing its Indian commercial vehicle operations as an export hub. Daimler India Commercial Vehicles (DICV) will export locally assembled trucks from the conglomerate’s Mitsubishi Fuso range in 15 markets in Asia and Africa. Government Initiatives The Government of India plans to introduce fuel-efficiency ratings for automobiles to encourage sale of cars that consume less petrol or diesel, as per Mr. Veerappa Moily, Union Minister for Petroleum and Natural Gas, Government of India. The Union Budget 2013-14 announced by Mr. P Chidambaram, the Union Finance Minister, Government of India, in the Parliament on February 28, 2013, had a few add-ons for the industry. The analysis by Deloitte on the Union Budget highlighted the following: * The period of concession available for specified part of electric and hybrid vehicles till April 2013 has been extended upto March 31, 2015 * The basic customs duty (BCD) on imported luxury goods such as high-end motor vehicles, motor cycles, yachts and similar vessels was increased. The duty was raised from 75 percent to 100 percent on Cars / motor vehicles (irrespective of engine capacity) with CIF value more than US$ 40,000; from 60 percent to 75 percent on motorcycles with engine capacity of 800cc or more and on yachts and similar vessels from 10 percent to 25 percent * In addition, an increase in excise duty from 27 to 30 per cent has been allowed for SUVs with engine capacity exceeding 1,500 cc, while excise duty was decreased from 80 to 72 per cent, in case of SUVs registered solely for taxi purposes * An exemption from BCD on lithium ion automotive battery for manufacture of lithium ion battery packs for supply to manufacturers of hybrid and electric vehicles * The excise duty on chassis of diesel motor vehicles for transport of goods reduced from 14 per cent to 13 per cent Moreover, the Government of India allows 100 per cent foreign direct investment (FDI) in the automotive industry through automatic route. The Government also plans to accelerate the supply of electric vehicles over the next eight years. It is expected that there will be a demand for 5-7 million electricity-operated vehicles by 2020. The contribution of automotive sector in the gross domestic product (GDP) is expected to double, reaching a turnover worth US$ 145 billion in 2016, with special focus on export of small cars, MUVs, two & three wheelers and auto components, as per the Automotive Mission Plan (AMP) 2006-2016. Road Ahead Global and Indian manufacturers are focusing their efforts to develop innovative products, technologies and supply chains in the industry. Car makers are launching a slew of car models, mostly compact SUVs, in the coming months. The automobile body SIAM expects the launches to be able to brighten the market. Lastly, the vision of AMP 2006-2016 sees India, â€Å"to emerge as the destination of choice in the world for design and manufacture of automobiles and auto components with output reaching a level of US$ 145 billion; accounting for more than 10 per cent of the GDP and providing additional employment to 25 million people by 2016.† G. Major Challenges and Suggested Measures Challenges: 1. Strong decline in economic growth- * It affects the consumer buying behavior- Buyers driven by fear of job loss, moved aggressively to increase their rate of saving. At the same time, high cost and growing longevity of motor vehicles prompted buyers to postpone purchases that they might have otherwise made. * Freezing of credit markets meant cancelledorders, unpaid supplier invoices, and ‘temporarily’ shuttered plants. * High excise duty- 12 % for sub 4 meters cars and 24 % for over 4 meters cars. * High interest rates as well as difficulty to obtain loans for purchase. 2. Duplicate spare parts- Indian market has always suffered from duplicate products and cheap counterfeits. This puts pressure on OEMs to reduce the prices and compete with these cheaper counterfeits. According to the study conducted by market research agency nielson co with acma, 41 % of total spare parts belong to OEMs and OESes, 23 % belong to imported segment and 36 % are duplicate. 3. Lack of infrastructure- Lack of proper road infrastructure, resulting into heavy Traffic has become major concern in most of the cities in India. Parking problem, parking cost adds to it. Bad roads, Bad drivers on road further add to the problem. 4. Availability of skilled man-power- As per data published by NSDC(National Skill Development Corporation), automobile sector in India is going to face a shortfall of 35 million skilled manpower by 2022. Limited availability of skilled manpower is bound to pose a great challenge to the positive growth of the Indian automotive manufacturing industry. 5. High Ownership cost- Small car sales are likely to fall by a couple of percentage points in 2013-14 due to continued uncertainty over income growth, high fuel costs arising from a deprecating rupee and still relatively high inflation.Diesel cars will lose their sheen, particularly in the small car segment, due to the gradual deregulation of diesel prices and the expected fall in petrol prices. 6. IR related issues- The $73 billion automobile sector has witnessed abhorrent industrial unrest in the recent 5 years with disputes in Maruti Suzuki, Hero Honda, Honda Motorcycles and Scooters India, Rico,Hyundai, Ashok Leyland, MRF, Apollo Tyres, Sona Koyo and Toyota Kirloskar Motors Ltd. Thissector, to generate double revenue needs a flexible workforce of 25 million with an amicableatmosphere to hire and fire workers to cope with the cyclical swings in demand for cars, trucksand bikes but the archaic labour laws governing employment of contract labour has fan thesetensions. This speculates the lack of efficient implementation machinery. Industrial unrestsaccompanying murders of the executives have also been committed in 2-3 instances recently,demonstrating the urging to address the issue by the social partners. 7. Global competition— Competition will only increase in the years to come, as more international players enter India and the pace of innovation accelerates. This would elevate both R&D and selling and distribution costs, thereby impacting margins. Despite these headwinds, India would continue to remain an attractive market, as volumes across segments are projected to grow at a five-year compounded annual growth rate (CAGR) of over 10 per cent. Suggested Measures India has a very low car penetration about 10 per 1000. This number is expected to become 382 by 2025, this means that there is plenty of room to each automobile giant to grow in Indian market without affecting the volume of other competitors. Few of the following suggested measures may have a bounce back effect on the Indian Automobile Industry; 1. Friendly government policies: Tax benefits for R&D development and Skill related investments, subsidies for hybrid vehicles are the measures if taken can boost the Indian automobile sector. Similarly extension of 200 % weighted deduction of R & D expense under income tax law andweighted deduction of 150 % for expenditure in skill development by industries seem to be positive steps towards the cause. 2. Healthy Industrial Relations through better contract worker policies: As in most of the developed countries thecontract workers are covered under the social security provisions and are paid at par with the permanent workers. Such transparent policies may definitely promote positive industrial relations and foster industrial growth. 3. Technology up gradation measures-Automobile industry is slowing down, but at the same time we are seeing long waiting periods for new launches, which means people are no longer going for same old trusty brands and models and want more value for their money. Which gives me hopes that if Auto makers focus on launching more new models and more global launches they will surely find customers. 4. Promoting Hybrid vehicles or better fuel efficiency—To counter the problems of high fuel prices, it’s the need of the hour to develop higher fuel efficient products and also the products running on alternative fuel to decrease the ownership cost. For this concession on import duty on specified parts of hybrid vehicles are necessary. Stringent laws and strict exercise to eliminate spurious auto-spare part business. 5. Ensuring easy loan availability–The industry should also approach the banks and NBFCs for better and easier loan availability to the car buyers. 100% finance and lower EMI with longer loan tenure will definitely help.

How Behavioral Economics Theory And The Neoclassical Model...

Do some Social welfare programs perversely harm in the long run to the very people it is intended to help? In the United States, Social welfare or Welfare system is a way the Federal Government, and state governments provide assistance to individuals and families through programs such as health care, food stamps, unemployment compensation, housing assistance and child care assistance. Social programs are a broad collection of many programs, with corresponding mandates and complicated matters; it has poorly managed rules about eligibility, benefit level and subject to fraud, abuse and rising expenditure and moral hazard. From economist point of view, many scholars agreed welfare expenditure is one of the causes of the increasing debt in the nation’s budget deficit. Although it is not very significant if compared other programs, like Defense, which is about 18% of the 2014 GDP. The goal of this paper is to examine how Behavioral Economics Theory and the Neoclassical Model of La bor Supply undermine some of Welfare programs, since their negative effect greater than the positive effect, and this could get worst in the long run. It is argued that the size or transfer programs are responsible for a decline an economic performance, and economic growth directly or indirectly, since poor people who are mainly the workforce are more irrational and inclined to make bad choices. This applies especially to social transfer expenditure like social security, social assistance, andShow MoreRelatedContemporary Issues in Management Accounting211377 Words   |  846 Pagesilluminate practice and to provide ways of improving it. Although always appealing to his economic understandings, he has been open to a wide variety of other ideas, recognizing their intellectual strengths and capabilities rather than making artificial distinctions between what is acceptable and what is not. He also has contributed widely to the accounting literature, taking forward the British traditio n of economic theorizing in financial accounting as well as being a constant source of creative thinking

A Brief Note On Mass And Energy Balances ( Non Reactive...

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What changes would be needed to the 1-separator system to improve the separation of the lowest boiling component? Calculate the vapour and liquid streams and the heat load if the above mixture is fed into the first of two separators operating at the given temperatures and pressures. The liquid outlet from the first separator is fed to the second separator and part of liquid from that is recycled. Introduction: HYSYS is a type of software that can provide the availability and capability to design a whole complete process with as muchShow MoreRelatedEssay on Marketing Strategy for Marks and Spencer Food13771 Words   |  56 Pagessimplicity to people and to break into the market with more of these inventions in much more variety. 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Box 196, S-221 00 LUND, Sweden, Tel: +46 – 46 222 02 00, Fax: +46 – 46 222 02 10, e-mail: iiiee@iiieeRead Morepaul hoang answers72561 Words   |  291 Pagesthe teaching and learning of Business and Management. Please feel free to contact me if you spot errors/omissions or have any other constructive suggestions, and IBID Press and I will then work on trying to address these issues. Finally, please note that this Answer Book is legally protected by copyright legislation so please seek prior permission from IBID Press and myself if you wish to reproduce any part of this publication. Distribution of the Answer Book, in electronic form or otherwiseRead MoreCase Study148348 Words   |  594 Pagesin this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. 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The change in any part of the organization may affect the whole of the organization

Essay on Teaching Philosophy - 849 Words

Teaching Philosophy Education, as well as children, has always been very important to me. My favorite game to play growing up was always â€Å"school†. I would recruit my stuffed animals and dolls to be my â€Å"students†. Every evening when I got home from school I would spend countless hours making lesson plans, tests, and grading papers for my â€Å"students†. Now that I’m all grown up and taking the necessary steps to become an educator, I’m still as excited and enthusiastic about teaching as I was when I was a little girl. After completing my undergraduate degree in elementary education, I plan to start working on my master’s degree right away. Although I would eventually like to teach education courses at a college or university, I†¦show more content†¦I feel that reading is an essential skill to master, therefore I want to get all of my students excited about reading. Although I am sure the longer I teach the more philosophies of education that I will pull from, the two that compare to my own are Essentialism and Progressivism. These two philosophies of education are often in conflict with one another. From Progressivism I want my students to get hands-on learning experiences. As with the Progressivism approach to education I want my students to have a creative outlet to express themselves, whether it is through art projects or music. Like the Progressivism philosophy, I want my students to not fear change; I want them to welcome it. Being a child that grew up in the 1980’s most of my schooling was focused on the Essentialist philosophy. After the 1957 launching of the Russian satellite Sputnik, many American schools began implementing math and science over vocational type studies. From growing up with a predominately Essentialist education, I feel that there are certain skills children must master before advancing to the next grade level. Children need to have a good foundation in math, science, and english from early on in their education. The method of teaching that I hope to use the most frequently in my classroom is cooperative learning. I feel that cooperative learning, if used correctly, is a wonderful way for students to interact with one another. However, this style ofShow MoreRelatedEssay on Teaching Philosophy Statement1037 Words   |  5 PagesTeaching Philosophy Statement â€Å"Teaching is not a profession; it’s a passion. Without passion for your subject and a desire for your students to learn and be the best in the world, then we have failed as a teacher and failure is not an option.† –John F. Podojil. In my opinion, this quotation is very true. 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I have chosen the route to be a SpecialRead MorePersonal Statement Of Teaching Philosophy1254 Words   |  6 PagesStatement of Teaching Philosophy Stephanie Speicher, M.Ed. â€Å"I regard it as the foremost task of education to insure the survival of these qualities: an enterprising spirit, tenacity in pursuit, readiness for sensible self-denial, and above all compassion† Hahn, K. (1957, p.10). Outward bound. New York City: World Books. Foundation – The Sunrise I stood watching the sunrise on the final day of a weeklong backpack/rock climbing training with my college orientation program. The tears streamed downRead More Teaching Philosophy Statement Essay1192 Words   |  5 PagesTeaching Philosophy Statement In the movie The Matrix, Morphis says to Neo â€Å"I can only show you the door, I can’t open it for you.† The door that Morphis is talking about is this incredible vast knowledge that is unknown to Neo. What better person to show, to teach, to inform Neo than his teacher, Morphis. 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It can be consciously developed as the professional, teacher/coach and student within education is exposed to a practice as well as other life experiences. It is believed that ‘clearly articulating one’s philosophy is a prerequisiteRead MoreThe Statement Of Teaching Philosophy1775 Words   |  8 PagesMy Philosophy Introduction â€Å"The statement of teaching philosophy (also called the teaching statement or teaching philosophy statement) promotes reflective practice by encouraging instructors to describe their teaching methods, to justify why they use those methods, to analyze the effectiveness of those methods, and to consider how they might appropriately modify those methods in future courses.† (Schà ¶nwetter et al., 2002) Stake holder motivation, engagement, cognitive associations, and personalRead MorePlato s Teachings Of Philosophy1487 Words   |  6 Pagesdistinguished philosophers. 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I will state the nature of students, the nature of knowledge, the purpose of public education, method, and curriculum according to my own philosophies

Case Studies Free Essays

Case Scenarios Read the following scenarios. Answer, in a 50- to 100-word response, each of the following questions: Scenario 1 Sophia has been removed from her family and placed into foster care for the second time in the last 2 years due to her mother’s ongoing substance abuse. Sophia has missed many days of school and often comes to school dirty and wearing clothes from the day before. We will write a custom essay sample on Case Studies or any similar topic only for you Order Now Sophia’s mother does not think she has a problem and blames the system for once again taking her daughter. 1. What can a human service professional do to help this family? They can have the family go to family counseling; also have the mother take substance abuse classes or to a drug rehab program. Then go talk to the foster care center and talk to Sophia and see why see is missing school and wearing dirty clothes. The human service can tell Sophia if she want to go back home she need to go back to school and get good grade and wear clean clothes to school then she can go back home with her parents Sophia would be my first focus because kids are most vulnerable. I would place Sophia in temporary foster care and set up biweekly meetings to understand her point of view of her current situation. I would also check her school attendance. And see if she needs some counseling to talk to someone about how she feels. We have a duty to protect that child not only from her living situations but also by placing her into a caring, loving family that will not allow this to happen. If she eventually comes to realization that this temporary situation could become a permanent situation maybe she will engage in the services offered and take things seriously the second time around, but never allow her to think it’s too late to make a change with her life. 2. How might the family’s previous involvement with the child protection system affect their willingness to engage in services the second time around? The family’s previous involvement could be that they were not informed of why their child was being taken out of their care and they are just upset about the whole situation of having her taken away. The case worker could have just taken the child and gave no explanation or propose a plan to help the family provide a stable environment for their daughter which would make anyone unwilling to engage in services. I would hope that the mother would realize the longer it takes her to seek help and stay clean the longer it will take for her daughter to return home. If she eventually comes to realization that this temporary situation could become a permanent situation maybe she will engage in the services offered and take things seriously the second time around, but never allow her to think it’s too late to make a change wit h her life. I am sure the child is very insecure of the Human Services at this point. Especially due to the fact that she has had so many issues with them in the past, and nothing has been done, at least nothing that was making a positive impact on her future. I personally feel having a closer relation with this child and building up trust may be a very positive approach. Social service workers are helpers. One asset that we possess in this profession is the ability not to judge. In this profession, just like our lives, we see people progress and regress. It does not stop our willingness to help. However, we do change our tactics to help these individuals with each failed attempt. Scenario 2 John has been homeless for most of his adult life. He is often seen on the medians of busy intersections asking for food and money or wandering through the park talking to himself. John used to seek housing in a homeless shelter but often chooses to sleep in the local park. During the winter, the local homeless coalition attempts to talk to John about staying in the shelter but he refuses. Staying out in the cold has led John to being hospitalized on several occasions, but he maintains that he is better off without anyone’s help. 1. If you were a case manager for the homeless coalition what would you do to try and help John seek appropriate housing during the winter months? I would try to talk to John to see what happened all through his life and why he is homeless and why he refuses to stay in the shelter. There could be a mental or emotional underlying issue that could factor his reasoning with himself. I would try my best to offer John alternatives such as appropriate housing or shelter, along with assigning him to a case worker to follow up with and seek for resources. I would try to offer counseling and build that trustworthy client-caseworker relationship in order for him to understand and believe there are better ways to live in this world. Identifying the skills he may lack as well. It’s obvious John may be suffering from depression, lack of trust, and low self-esteem. The longer John remains in this state of mind it will be hard for him to get all his needs met. Adults, children and youth who have Developmental Disabilities are offered programs that range in intensity and setting according to their needs and desires – from highly supervised residential programs to job coaching and supported living. The Network strives to protect the welfare of individuals at-risk in numerous ways. I feel getting John involved in an organization like this one where he was taken c are of and receiving meds I feel he would be on the path to a healthy happy life. In this case it would be good to know what disciplines John most likely fit into. Psychology would be my choice. I would attack his mind and behavior for a solution. 2. How does John’s outlook about receiving help affect his ability to get his needs met? John has too much pride in his self to accept the help he needs. He is already got it set in his mind that he can make its own his own without any help from anyone. He thinks this is a handout to him. Many homeless have this mentality and they live day to day on the streets. John (as well as the many others) need to be reminded that these programs are here to help and are not a handout in any way, most of the programs that are out there for the homeless are set up to assist those in getting back on their feet and off drugs and the street. This is going to be a process in which we may have to take baby step to get the job done. First we must get John to trust us, and let him know we are his friends looking out for him. We must get him to a doctor, get him medicated and get his mental illness under control so he understands us and his situation better. I believe after those two steps we will see huge improvements in him, and I’m sure he will also want to make great changes in his life. . Resistant means they have to attend but they don’t participate, they miss their appointments, So, We want to give John whatever services he will accept. Scenario 3 Juan often runs away from home because his parents constantly fight and often blame him for their issues. Juan runs away for 2 to 3 days at a time and will do this at least once a week. When he is at home, he typically does not follow the rules and will yell at his parents and siblings. Juan has a history of defiant behavior, but his home environment has often been chaotic. Juan’s parents have been through family counseling, but they feel it was not helpful and are reluctant to do it again. Juan sometimes will run to a local group home that takes in runaway youth. 1. If you were a counselor at the group home, how might you work with Juan to get him to stop running away from home so that he is not sleeping on the streets? I would try to talk to Juan to ask him why his parents are fighting about and why does he think he is the blame. Then ask him has he ever sat down and had a talk with his parents to see if he can help them out being he is the oldest in the family. I would try to get Juan to understand that the only blame he should take responsibility for would be any deviant behavior that he does. His parents fighting and him being blamed for it is just a way for them to pass the buck onto him and make him feel bad. He is not responsible for his parents fighting and once he can realize that and put measures of emotional protection he would not feel the need to run away. However I would encourage Juan to seek positive ways to handle and deal with the stress from home, whether becoming involved with sports or other positive groups. Juan would be offered therapy and anger management classes. Trying to figure out what makes him the angriest and we both figure out a solution to the problem so that he can remain in his home every night and learn the importance of rules as well. . Parent’s sometime worry when t hey don’t know where their kids are, therefore, causing arguments. I would show him ways he could be an influential key to the other kids in the house. 2. How might you try to work with the family even though they have participated in family therapy previously and did not find it effective? I would try talking one on one with each family member. Since I have already talk to Juan, I would talk to his mother to see what she has to say and how she feels. Then I would talk to his father to see if he has been in Juan’s life from birth to now. After talking to the parents then I would talk to his brothers and sisters to see how they feel about him. Once I have completely talked to everyone I can understand what really happen or have a whole picture of all the problems. Then I will bring the whole family together and let them express how they really feel and how they want to stay a happy family. Encourage the parents to understand and accept the fact that there is a problem in the home and it starts with them. As a counselor there would be weekly follow up visits with the family. The family would be offered resources and as a whole we all work together to find a solution to the problems inside the household. I am a firm believer that one should never give up. And as a human services worker, I will never give up on a patient or a family. Maybe, they weren’t ready to change with the first session, I feel we must give up all we got in order to show change and get a positive result. To break the ice, I would start by asking questions like, â€Å"What do you see the problem being? † This gives the parents some since of control in helping the problem. I would suggest marriage counseling to stop the arguing. There has to be another reason for their arguments other than Juan running away. How to cite Case Studies, Essay examples Case studies Free Essays Mudflats Biscuit Manufacturing Plant Roles Mudflat is said to be a leading businessman in the hill country who owns the largest and the one and only state of the art biscuit manufacturing plant in the country that was running for more than 30 years. His business constitutes over 2000 employees and his products had a 70% market share in the local market. He also exports his products to 20 countries including USA. We will write a custom essay sample on Case studies or any similar topic only for you Order Now Roles Mudflat also had other business Interests In the field of hotels, travel, apparel and plantation. He is a father of two children who has completed their Master Degrees in Bangor n the field of IT and Fashion Design. His belief was that it’s his prime responsibility to look after the welfare of his fellow employees’ and their families and his character towards them was more of father than an owner of the plant Itself. He also proved that paper qualification does not matter when It came to real life business. Them in order to enjoy his retirement. He then appointed his son Reason as the Director Operations and his daughter Rossini as the Director Marketing. Overall analysis of this case is to see as to how the new management approach is different to that of the old management approach of managing the biscuit manufacturing plant. 2. Question 1 – Discuss about the leadership approach of Roles Mudflat and how the company was benefited for many years with his self-learned management skills and main drawbacks of the process. The leadership approach used during the reign of Roles Mudflat at his manufacturing plant is a mixture of Autocratic approach, Democratic approach and Paternalistic approach. As an autocratic he decided that his manufacturing plant would be more controlled if he did not recruit professional managers. Through practicing autocratic approach he was able to make quick decisions, this was rather unofficial as he was facing constant changes in the environment due to competitiveness in the local as well as the foreign markets. It was rather a challenging thing for Roles Mudflat to be looking into his workers needs as they were needed to keep his business from falling apart. Through democratic approach Roles Mudflat was able to create an environment as such that he appointed his most senior employees as Supervisors to overlook employees under thereby encouraging decision-making amongst them. He also believed in an open-door policy, which encouraged employees to come to him whenever and whatever time they wanted to talk to him. This resulted in building the employer and employee relationship which built trust in-between, encouraged team- work amongst his fellow employees and so forth. Finally, as a paternalistic Roles Mudflat was more looked as a father rather than a boss. This is so because he believed that the people working for him were the best assets he possessed. He not only looked into the needs of his employees, he also extended an extra hand towards the needs of their families too. He supported his workers by giving 02 month bonuses, provided soft loans to purchase a motor cycle to errors who worked more than 05 years, distributed a dry ration pack worth of RSI. 1000/-, offered scholarships to their children whom were selected to universities, provided books and other accessories to needy children. Society, without which survival of the company would be damaged. And he also was a people person, although he did not have an HRS to look into the needs of the employees he happen to do it the way he understood how to manage people. The benefits gained through Roles Mudflat with his self-learned management skills are however very few compared to that of the drawbacks. He believed in an open or policy, whereby all employees’ feedback was consi dered and he acted upon accordingly. This policy improved the morale of employees to a greater extent and had a direct impact to the turnover. When employees feel that their decisions and feedback are accounted for they gain a sense of belongingness and trust which helps Roles Mudflat retain his fellow employees. Another benefit is that Roles Mudflat has a 70% market share in the local market, exports his products to 20 countries including USA, caters to the needs of over 2000 employees and also together has won over the society through certain CAR projects. The little knowledge of management he has, had helped him not only look into the internal environment but also to cater to the external environment too. The drawbacks of the leadership approach used by him is such that, it is the result of lack of interest of the leader that leads to his adopting this style. This proves poor management and makes the employees lose their direction and focus. Roles Mudflat has no interest about the future of his business, I. E. No mission or vision of the business, no career development for his employees. According to the case, his most senior employees are Just Supervisors. They have no development beyond that because he does not see the importance of such a promotion for such employees. This may be due to his lack of knowledge of how to manage people or more or less the reason as to his lack of interest to take his business forward. There is no proper organizational structure that illustrates the positioning of the employees of the manufacturing plant. He has no set procedure and policy of how the business has been running in the past and how it came to be. This is necessary for the next heir who would be taking over. Without this policy or procedure no one can put two and woo together and continue the business, or to survive in the competitive market. . Question 2 – What are the shortcomings of the new approach taken by the young directors and their team to the change the process? The new approach taken by the young directors and their team to the change the process was rather costly. Rather than providing internal promotions they hired two Secretaries as Personal Assistants to the newly appointed directors. Six managers were hired for the core functions of the company namely Production, HRS, Quality, Supply Chain, Marketing and Finance. The managers were the newly appointed directors’ classmates. They failed to identify manpower requirement, through internal recruitment. They incurred a lot of finance on unnecessary expenses like for instance; Reason came to understand that the company was running without a vision consultant in the country to come up with an attractive vision and corporate plan. Reason made available printed cards to all employees with the vision and mission statement and spent one million rupees on fixing digital boards with the company’s vision. The HRS introduced a new incentive scheme based on individual performance and informed all employees that their annual bonus will be based on performance appraisals. Here the new management failed to inform the employees as to how their performances were going to be appraised and as to what they had to do in order to improve their current performance. Employees had no one to go with their grievances as they were not given much attention as compared to Roles Mudflat. Employees were highly denominated as they faced difficulties communicating with the new management. The new directors failed to integrate the culture of the company’s vision and mission. There was a clash between the previous culture and the existing culture. Reason and Rossini were too busy recruiting new blood to the organization that they ailed to realize the damages it was doing to the company. The employee turnover increased by 25% of the first three months Reason and Rossini took over the company. 4. Question 3 – Being the HRS Manager, what is your proposal to young directors to implement best HRS practices and processes in this 30 year-old company with over 2000 employees? When we look at the business that Roles Mudflat maintained for the past 30 years and the manufacturing plant that is now about to reach extinct, we could see that the main reason for this unsuccessful turn is the lack of knowledge the new management as about the culture and the business itself that was run by their father. As an HRS Manager, before I implement best HRS practices and processes I shall first speak to the employees and learn from them about the manufacturing plant. This is done so as to get a wider picture of the business as a whole, and as to how it was controlled by Roles Mudflat. Through this I could derive his secret of managing people and do a comparison of before and after the new management took control. As it is the employees are much disgusted over the way they have been treated and how much they have been ignored. So as an initial step I would involve employees in helping me to work out a SOOT of the past and present and get their valuable comments or suggestions, if any. Based on the SOOT analysis, I shall look into the areas that were lacking much expertise. Initially, the HRS manager should be able to fix the denominated staff and to do so he/she has to be very open to them, allow them to speak about their problems bothering them. Later, recruit a counselor to help those employees whose minds needs special attention. The HRS Manager should effectively encourage employee engagement benefit from owe employee turnover, greater customer satisfaction, a solid corporate culture, improved performance and communication, and higher commitment to the core values and objectives of the organization which had been embedded during the initial period when Roles Mudflat was leading. HRS Manager should also clarify the strategic direction by means of articulating the Vision, Mission and Values of the organization. HRS Manager should also integrate HRS programmed through HRS practices. For instance, by establishing a Staffing and Recruitment Policy it well help the organization to develop an effective recruitment tragedy in order to attract qualified workers who are committed to the organization’s goals. The HRS Manager should also be able to identify the short-term and long-term human resources needs through a HRS planning process in order to mitigate resignations. HRS Manager should also develop a compensation policy. This is done by identifying goals and objectives of the organization by considering the competitiveness in attracting and retaining employees and whether performance is tied with pay increases. HRS Manager should also provide for training and development programmed so as to eater to all employees in need of training. How to cite Case studies, Papers

Guiding Investment Decisions

Question: Discuss about the Guiding Investment Decisions. Answer: Introduction Financial statements are the most important documents for a business organization. Financial statements help the stakeholders understanding the financial position of the company in a particular period of time. This means the financial statements of a company help its stakeholders taking their decision regarding investments or any other purposes. Hales, Rees and Wilks (2016) stated that the financial statements of the companies not only provide the past financial overview of the company, but it also helps understanding the future capability or possibility of the companies in context to the financial performance. However, Collis et al., (2016) argued that only the review of financial statements is not enough for taking any investment decision or other decisions because there are many other non-financial attributes that must be analyzed. In support of this, Fontes, Rodrigues and Craig, (2016) stated that many times companies misstate their financial performance in their financial statements and due to this, the stakeholders do not completely depend on the financial statements while taking any particular decision. On the contrary, Donelson, Jennings and McInnis (2016) noted that without checking the financial statements no one can understand the current financial or market position of the company. Hence, while taking any decision, analyzing the financial statements is essential. Therefore, it can be said that there are different views regarding the usefulness of the financial statements of the companies. The aim of this particular study will be analyzing the importance or usefulness of the financial statements for the purpose of performance standard measurement of the companies and guiding the stakeholders in taking investment decision. In order to make the study more concise, the focus will be made mainly on the financial statements of Woolworths Limited and Wesfarmers Limited in Australia. There are two variables in this research topic, one is dependent and the other is independent. The independent variable is the financial statements and the dependent variable is the performance standard of the companies. Literature review Background of the research topic: Discussing how the financial statements help measuring the performance standards of the companies According to Hutadjulu and Blesia (2016), financial statements are the official documents or records that disclose the financial activities of the companies during a particular period of time. Financial statements are prepared for a specific period of time. The companies can prepare the financial statements quarterly, half-yearly or annually. Berger, Minnis and Sutherland (2016) mentioned that according to different accounting standards like, AASB, IASB or GAAP, preparing the financial statements is essential for every company. On the other side, Dung (2016) noted that preparing the financial statements is not only important for measuring the financial performance or position of a particular company, but it also helps comparing the financial performances of two or more companies in a specific period of time. Below, the comparison of the financial performances by using the financial statements of Woolworths Limited and Wesfarmers Limited are shown: Woolworths Limited: Financial Ratios 2014 2015 Gross margin 38.79932 39.86637 Net margin 7.48548 5.372918 Current ratio 1.050601 0.9081 Quick ratio 0.794164 0.260841 Assets turnover ratio 1.793704 1.400772 Debt to equity 0.664413 0.538505 EPS 350.6 337.3 Table 1: Financial ratios of Woolworths Limited (Source: Woolworthsgroup.com.au, 2017) Wesfarmers Limited: Financial Ratios 2,014 2,015 Gross margin 4.644323 6.019505 Net margin 4.468188 3.907313 Current ratio 1.131486 0.934917 Quick ratio 0.483048 0.369731 Assets turnover ratio 1.514864 1.545641 Debt to equity 0.20845 0.232476 EPS 234.6 216.1 Table 2: Financial ratios of Wesfarmers Limited (Source: Wesfarmers.com.au, 2017) The above two tables are disclosing the financial positions of Woolworths Limited and Wesfarmers Limited for the two financial years that are 2015 and 2014. The tables are showing the financial ratios of the two companies, which are calculated by considering financial figures mentioned in the financial statements like, income statements and balance sheet statements of the companies. Therefore, analyzing the financial ratios is same as analyzing the financial statements of the companies. The above two tables of two different companies are clearly showing that the profitability of the Woolworths Limited in 2014 and 2015 was much better than that of Wesfarmers Limited. This is because the gross margin and net margin of Woolworths Limited were better than the Wesfarmers Limited. On the other side, if the current ratio and quick ratios of the companies for these two years are considered, then it can be understood that the liquidity position was also good at Woolworths Limited than the liquidity position of Wesfarmers Limited (Prentice, 2016). The debts to equity ratios are disclosing the capital structure of the companies. Analyzing the debt-to-equity ratios it can be said that in the capital structure of Woolworths Limited, the use of debt capital was more than the equity capital (O'Hare, 2016). However, in case of the Wesfarmers Limited, the use of equity capital was more than the debt capital in the capital structure of the company. This indicates that the capital structure of Woolworths Limited is riskier than the capital structure of Wesfarmers Limited (Perri Shuli, 2016). On the other side, if the earnings per share of the companies are compared then it can be identified that the performance of Woolworths Limited was better than the Wesfarmers Limited because the EPS of Woolworths limited in 2014 and 2015 was better than Wesfarmers Limited. Therefore, from the above discussion, it is clear that the Woolworths Limited was better performer than the Wesfarmers Limited during 2014 and 2015. The performance standards of the two companies are cleared out by calculating the ratios from the data available in the financial statements of the companies. Hence, it is obvious that the performances of the companies are measured by analyzing the financial statements of them. While taking the investment decisions, the investors always analyzes the financial capacity of the companies (Karwowski, 2016). The financial capacities of the business organizations can be better understood by analyzing the financial statements of the companies. For example, an investor wants to invest the funds either in Woolworths Limited or in Wesfarmers Limited. However, before investing the funds in the businesses, the investor will verify the capability of the companies providing high return to the investment and the investor will also compare the financial capacities of the two organizations (Guay, Samuels Taylor, 2016). Now, in order to take the decision, the investor will verify few specific financial facts like, cash inflows during last few years, assets values of the companies, revenues of the companies, net profits of the companies and the cost structures of the companies. All of these financial facts of the two companies will be available in the financial statements. T his means, in order to take the final investment decision, the investor will verify or analyze the financial statements of Woolworths Limited and Wesfarmers Limited (Kim et al., 2016). Hence, it can be said that the financial statements help the external investors taking the investment decisions. On the other side, if this matter is discussed from the point of view of the managements of the companies, then also it can be said that the financial statements are important for taking investment decisions (Uwuigbe et al., 2016). For example, the management of Woolworths Limited is planning to invest some funds into a particular project. In order to take this particular decision, the management will identify and analyze the net present value of the investment and to identify the net present value, the management will require the future cash inflows. This means, for the management of the companies, the financial statements are also very important. Research questions This research will be directed to identify the answers of the following research questions: Why the stakeholders use the financial statements to measure the performance standard of the companies? What are the limitations of using the financial statements while measuring the performance standards of the companies? How far the financial statements of Woolworths Limited and Wesfarmers Limited are useful to their stakeholders? How the stakeholders can utilize the financial statements in a better way? Research hypotheses The financial statements are not sufficient enough for measuring the financial performance of the companies and taking investment decisions. The financial statements are sufficient enough for measuring the financial performance of the companies and taking investment decisions. Research methodology Methodology is very important part of a research, on which the success of the research depends (Vaioleti, 2016). This particular study also will also follow such a methodology, which will be most appropriate for the research. The methodology of a research project includes mainly three elements research philosophy, research approach and research design. Three alternative philosophies are there, which can be used for conducting a research project effectively and these are positivism philosophy, interpretivism philosophy and realism philosophy. However, this research project will follow the positivism philosophy of research. The positivism research philosophy will be selected because this research philosophy is very effective in analyzing the research data in quantitative manner (Silverman, 2016). Quantitative analysis on the other hand helps understanding the research findings easily. Therefore, the use of positivism philosophy will help conducting the study and identifying the resul ts in a better way (Marais Pienaar-Marais, 2016). A research can follow either of the two available research approaches deductive research approach and inductive research approach. In case of the research approach, the study will follow the deductive research approach. The deductive research approach will be selected for this research because this approach is less time consuming. As the study will have very limited time span, the deductive approach will help completing the study within the short time. At the same time, the deductive research approach is very simple to understand and follow (Simonsohn, Nelson Simmons, 2017). There are mainly three different research designs are available and these are descriptive research design, explanatory research design and exploratory research design. In case of the research design, the study will follow the descriptive research design. The primary reason for selecting the descriptive research design is that the descriptive research design helps analyzing the research data in detail manner. T his research design will help the study conducting the qualitative research based on the existing literatures and theories. Project plan Activities Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Week 11 Week 12 Week 13 Week 14 Topic selection Setting aim, objectives, questions and hypotheses Conducting literature review Setting research methodology Data collection Data analysis Findings Conclusion Recommendations Preparing final draft Table 1: Gantt chart Research process This research project will follow a systematic process so that the study can achieve its goal easily. The process of the research will start by selecting the topic of the research. While selecting the research topic, the variables of the research will be identified clearly. After selecting the research topic, the aim and objectives of the research will be set. At the same time, the research will also set the questions and hypotheses. After setting the questions of the research and hypotheses of the research, the study will next start the literature review by considering the questions and objectives of the study. The literature review will take much time because during the literature review, the study will analyze the existing literature and related theories. This will be the secondary data for the study. After conducting the literature review, the study will select the proper methodology for collecting and analyzing the data from different sources. After selecting the methodology, the study will focus on the data collection process and after data collection; the data analysis will be started. The results from the data analysis will be the findings of the research and then the research will verify whether the findings are able to meet the research objectives and answer the research questions or not. Then the study will arrive at conclusion and after that the research will provide some recommendations. After all of these works, the final draft will be prepared. Data collection and analysis This study will include both primary as well as secondary data. The primary data for the research will be collected through the survey and interview methods. The survey will be conducted with the investors of Woolworths Limited and Wesfarmers Limited. The survey will be done through social media like, Gmail. The survey form will be sent to 100 investors of both the companies and it can be expected that 70 will be agreed taking part in survey. The sample for the survey will be selected through probability sampling method because the number of investors of these two companies will be huge. On the other side, the interview will be taken from the managers at Woolworths and Wesfarmers. The sample size for the interview will be selected through the non-probability sampling technique because the number of managers in these two organizations is less. The secondary data for this research will be collected from different journals, articles and websites. In order to analyze the research data properly, the study will use the quantitative as well as qualitative data analysis methods. Quantitative method is the scientific analytical method that provides the findings or results in numerical form (Wiek Lang, 2016). On the other side, qualitative method provides the research findings in theoretical format. In this particular study, the survey data will be analyzed through the quantitative data analysis method and the interview data will be analyzed through qualitative method. This research project may face some limitations while collecting the research data and conducting the study. The main limitation that the study may face is the time limitation. The available time for this research will be very less and conducting the whole research properly within the limited time span may create difficulties. Another limitation that the study may face is the cost limitation. The study will require collecting primary data, which will cause high cost. Apart from these two, the study may face difficulties collecting reliable data from proper sources. Expected research outcomes As this study will aim to identify the usefulness of the financial statements in the performance measurement of the companies, it is expected that the study will identify how the financial statements of the companies can help the management and stakeholders in measuring the performance standard. The detailed analysis of the financial statements will show the importance of the statements. At the same time, it is also expected that the results from the analysis of survey and interview data will disclose whether the investors and managers of Woolworths Limited and Wesfarmers Limited find the financial statements useful or not for measuring the performance and taking investment decisions. Conclusion This proposal has indicated the research study will aim to identify the usefulness of the financial statements in measuring the performance standards of the companies and taking investment decisions. The literature review of the study has clearly mentioned that the financial statements of Woolworths Limited and Wesfarmers Limited are quite helpful in measuring the performance standards of the companies. Moreover, the discussion in the literature review has also shown how the financial statements can help in comparing the performance standards of the companies in the same industry. The proposal has stated that the study will follow the positivism philosophy, deductive research approach and descriptive research design because these will help completing the research easily and within less time. As per the research proposal, the study will be based on primary and secondary data and the data will be analyzed with the help of quantitative and qualitative methods of data analysis. 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