Essay Example | Topics and Well Written Essays - 500 words - 183

Paper Example I was somewhat vexed for there was nothing intriguing about them; they were simply average citizens everybody can find in a cafã © toward the beginning of the day. In spite of this, I appreciated being there as a result of the sun that shone perfectly through the window, the cafã © possessed an aroma like espresso and newly heated biscuits, and I felt quiet and fought with my life. At that exact instant, a man came in and grabbed my eye right away. He was by all accounts energized, even apprehensive. He glanced around as though he was searching for a person or thing, took a seat at a table and requested tea. The man was dressed flawlessly, and from the start I felt that he went ahead a date; it was too soon for that however, and I set out to settle that idea. Additionally, it was a serious early morning for a conference. Interest was gobbling me up as the man checked his watch pretty much like clockwork and glanced out the window. He was unquestionably hanging tight for somebody. Around fifteen minutes of holding up passed, and a kid bobbed into the cafã ©. He was around thirteen or fourteen years of age, not very tall, and he helped me to remember somebody I had just observed previously. At the point when he came up to the man, I comprehended who the kid helped me to remember. It became evident they were a dad and a child. At the point when the man saw the kid, he shined with joy lastly quieted down. The kid was additionally happy to see his dad for he ran up and embraced him. It was such an overall quite moving scene! I believe that the way that they met at the cafã © recommends that they didn't live respectively; maybe, the boy’s guardians were separated, and his mom had a sole care of her youngster. Regardless, obviously they had not seen each other for quite a while. As I glanced around, I saw that each and every individual who was at the cafã © right now additionally was watching the man and his child. Much the same as me, they additionally appeared to be moved by the scene. At that very example, I felt that the whole cafã © was loaded up with harmony, bliss and even

Growing demand for corporate governance reform

Developing interest for corporate administration change 1. Presentation: Lately, different analysts and researchers have contended that globalization is prompting heightening intermingling in the idea of corporate administration frameworks, over the corporate world. Hansmann and Kraakman (2000) states; a worldwide trade off has presently risen that corporate supervisors and specialists must work only in the monetary interests of investors, and accordingly, all locales will unavoidably move towards a fresher model of corporate administration. In any case, before examining inside and out subtleties of this idea, we should initially attempt to comprehend this wording. The meaning of corporate administration can be followed back to the hour of the development of Cadbury Committee (C.C.) in the year 1992. This board of trustees was named by the traditionalist administration of the United Kingdom in this year, with commitments of tending to the budgetary parts of corporate administration. The C.C. appeared because of various corporate outrages that transmit vul nerability on the frameworks for controlling the manners in which enterprises are run. This board of trustees depicted Corporate Governance as the framework by which organizations are coordinated and controlled. Right off the bat, it is basic to comprehend the noteworthiness that corporate administration as an idea holds to its recipients. The significance of corporate administration lies in its commitment both to the ideas of business flourishing and to responsibility. Its a vital blade which has the two its sides sufficiently sharp, either to upgrade the business proficiency or demonstrate inconvenient in the more extended run. In any case, off-late the remarkable tendency in the corporate outrages and disappointments around the globe rather portrays a melancholy picture. While advancing in this article I will outline different such corporate and budgetary disasters and the changes that have been set up to dodge such gigantic disappointments around the corporate world. Moreover, an inside and out examination of the goals and obstructions related with corporate worldwide change measures would likewise be advanced. 2. Conversation: 2.1 Understanding Corporate Governance Reforms and its Implications. A corporate administration problem happens, at the most fundamental level, at whatever point an outside financial specialist wants to actualize control uniquely in contrast to the supervisor accountable for the association. Scattered proprietorship intensifies the issue by offering ascend to contrasts of enthusiasm between the different corporate partners and by delivering an aggregate activity issue among shareholdersâ [1]â . All the more frequently, a basic issue of corporate administration surfaces from a diagram that: guideline of enormous investor inclusion may give better security to little investors, yet such arrangements may heighten administrative circumspection and extension for misuse, (Becht, Bolton and Roell, 2003; Weiss, 1990). Since the year 2001, there has been recharged interest in the corporate administration practices of present day associations, prevalently because of the prominent deteriorations of various huge companies in the United States, such as Enron Corporation and WorldCom. Such falls have additionally driven specialists to look at the need of improved and more grounded corporate administration change measures. Combination among partners is a basic piece of the association and monetary security, clinging to the corporate change measures. As indicated by OSullivan (1999: p.4), combination contentions are underscored by the neoclassical thought that the development of liberal markets, which corporate administration change is viewed as encouraging, prompts best financial results and, specifically, most prominent productivity as far as the appropriation of rare monetary assets. Sentiments, for example, these harden our convictions of corporate administration measures being executed. Additio nally, as per Rosser (2003), corporate administration change should be comprehended, not as far as the degree to which it underwrites advancement and adequacy, yet as far as the degree to which it serves or damages specific political and social interests. It has gotten very fundamental for all the partners to mull over different necessities of a deftly made administration change. Effective administration guarantees that supporters with an important enthusiasm for the companys business are totally mulled over. 2.2 Why Corporate Governance is a significant issue? Cases that corporate administration frameworks are experiencing investigation have increased in the wake of the Asian emergency and its aftermaths. Constraints in Asian corporate administration frameworks were broadly observed as an essential driver of the Asian emergency and its outcomes (Johnson et al, 2000; Dickinson Mullineux, 2001). With the appearance of different gigantic corporate emergencies everywhere throughout the world, establishments, for example, The World Bankâ [2]â have propelled a scope of plans to advance corporate administration change in creating and progress economies. Particularly after what befallen partnerships, for example, Lehman Brothers and Merrill Lynch, it has become even more basic to embrace measure to smooth out and monitor corporate administration arrangements. Corporate structures and administration understandings wander broadly from nation to nation. They are a result of the nearby financial and social condition. Be that as it may, the central issues of the board responsibility are pretty much comparative all over the place. The Cadbury Committee was a milestone in deduction on corporate administration. Cadburys recommendation were freely supported in the United Kingdom and remembered for the posting guidelines. The report likewise end up being powerful in numerous abroad nations and it has introduced a benchmark against which gauges of corporate administration in different markets are being estimated. Customarily, the corporate administration models have for quite some time been received from nations, for example, the US and the UK. With globalization, progressively more partnerships and governments have been driven towards the more effective method of leading monetary exercises displayed after the Anglo-American framework (Gourevitch, 2 003; Jomo, 2004). As indicated by Deakin et al (2005: p.1), The corporate administration environment in the UK and the US is commonly thought to be forceful to the rise of helpful work relations of the sort exemplified by work the board associations. Becht, Bolton and Roell, (2003) have recognized a few elements which can be ascribed to the conspicuousness of corporate administration as a urgent issue. They state occasions, for example, overall flood of privatization, development of private reserve funds and the takeover wave of the 1980s, which have placed the spotlight on corporate administration in creating markets. In addition, the gigantic takeover wave in the US during the year 1980s and in Europe during the 1990s has further fuelled the open discussion on corporate administration. 2.3 Understanding Corporate Governance Reform Policies and discussions. Administration change measure in the developing and ready markets has not advanced in spite of the readiness appeared by the policymakers. As per a report created by McKinsey Company, there are different manners by which another life to a change motivation can be given. Right off the bat they recommend that administration changes estimates need to designate more accentuation to driving change through institutional changes of capital markets. Also, they worry upon the way that family run business ought to have separate rights and should be perceived independently. Corporate administration change keeps on being a significant worry for the vast majority of the rising economies, all through the world. Worldwide associations have played an extremely dynamic and deciding job with respect to this issue. The International Monetary Fund, The World Bank and The Organizations for Economic Cooperation have all been raising the profile of the corporate administration changes over the corporate an d money related division. In spite of their diligent endeavors, corporate market norms in developing markets are still a long ways behind when contrasted with those of the US, UK and Europe, as expressed by the McKinsey Report. It has been recognized that there is an absence of progress and this theme or issue needs substantially more to be tended to towards itself. Ordinarily, corporate administration rehearses are created to suit the requirements of center investors of the association. Notwithstanding, because of this very explanation, there has been an expansion in the sum and force of contentions between all the partners of the associations. Issues: The territory of Equity holders of partnerships overall is bleak, without a doubt. As indicated by an ongoing finding by a monetary foundation, securities exchanges are off half all over the place, banks and comparative money related organizations are continually under the danger of nationalization, profits are being cut continually, and to top it the sum total of what there has been a steady upsurge in the quantity of cheats occurring. As indicated by Hadiz (1997), organization representatives have not been a key factor in corporate administration arrangement making, which thusly has offered ascend to the ever slanting shaky corporate administration. Different variables which added to this issue have been unreasonable hazard taking by supervisors, disappointment with respect to the board and absence of information on budgetary items. Moreover, contrasts in proprietorship structure have two discernable ramifications for corporate administration, as expressed by Morck, Wolfenzon, and Yeung (2005). Aside from this, administering investors have both the temptation and the ability to teach the executives authority. Then again, concentrated possession can make conditions for another organization issue, in light of the fact that the interests of controlling and minority investors are not adjusted. There have been a great deal of disappointments in the corporate circuit, which have in a way fuelled the progressing banter about the corporate administration change measures. A portion of these disappointments incorporate undetected cockeyed sheet credits to a controlling family, deliberat

Blog Archive MBA Career News Writing Compelling Cover Letters

Blog Archive MBA Career News Writing Compelling Cover Letters In this new blog series, our mbaMission Career Coaches offer invaluable advice and industry-related news to help you actively manage your career. Topics include building your network, learning from mistakes and setbacks, perfecting your written communication, and mastering even the toughest interviews. To schedule a free half-hour consultation with one of our mbaMission Career Coaches, click here. When you see a job posting of interest, you should (quickly) take advantage of the opportunity and submit a compelling application featuring a targeted resume and a personalized cover letter. (You can find details about effective resume writing in one of our earlier blog posts.) Although some people question whether potential employers read cover letters, you should assume yours will be read. Use the cover letter as an opportunity to solidify your networking efforts or explain why you want the job and why you are qualified. The following table presents a suggested cover letter format as well as our tips for making the most of this application component. Finally, when writing and editing your cover letter, avoid the following common pitfalls: Adjectives/adverbs with weak nouns/verbs Vague language, cliches, empty jargon Typos/grammatical errors Long words, long sentences, long paragraphs (The ideal cover letter length is about three-quarters of a page.) Failing to pass the “So what?” test (i.e., What purpose does the sentence serve? Is it conveying critical information that is relevant to the reader?) Have you been admitted to business school? If so, do you want to get a head start on defining your career goals? Do you need help preparing for job interviews or learning how to effectively network with your target employers? Or maybe you want to be a top performer in your current role but are unsure how to maximize your potential. Let an mbaMission Career Coach help via a free 30-minute consultation! Share ThisTweet MBA Career Advice

Analysis Of The Book The Yellow Wallpaper - 1363 Words

In the story, â€Å"The Yellow Wallpaper†, the narrator’s husband has rented an old mansion in the country for the summer. John is relying on this getaway as time for his wife’s nervous condition to resolve itself with rest and medicines. As the story unfolds for the readers, it becomes apparent her husband, John, is monitoring her 24 hours a day. She feels somewhat condemned that she is unable to change her circumstances and she ends up as a victim, thus confirming the dominance of men over women during that period. Between the narrator’s controlling husband and the deterioration of her mind, she inevitably snaps and becomes completely delusional. All along the story, John, the husband believes he can cure his wife, manage her behavior and keep his status in society. She fights against the patriarchal system by hiding her mental instability until the very end. Because of the importance of the narrator, she deserves mentioning. She is the main character and the â€Å"I† in the story without a name. The narration of the story in the first person made it difficult to figure out what to call her. It was unavoidable at times not to call the narrator, John’s wife. She, as John’s wife, has bought into a system that she is struggling against and ultimately it is her undoing. As a testament of the times, a husband has the standing in society and is recognized as the one with the knowledge and power. John, as a highly regarded physician, is convinced he knows what is best for hisShow MoreRelatedAnalysis Of The Book The Yellow Wallpaper 877 Words   |  4 Pagesperspective. The narrator of â€Å"The Yellow Wallpaper† is a paradox: as she loses touch with the outer world, she comes to a greater understanding of the inner reality of her life. This inner/outer split is crucial to understanding the nature of the narrator’s suffering. At every point, she is faced with relationships, objects, and situations that seem innocent and natural but that are actually quite bizarre and even oppressive. In a sense, the plot of â€Å"The Yellow Wallpaper† is the narrator’s attempt toRead MoreAnalysis Of The Book The Yellow Wallpaper 1367 Words   |  6 PagesIIn the story, â€Å"The Yellow Wallpaper†, the narrator’s husband has rented an old mansion in the country for the summer. John is relying on this vacation as the time for his wife’s nervous condition to resolve itself with rest and medicines. As the story unfolds for the readers, it becomes apparent her husband, John, is monitoring her 24 hours a day. She feels somewhat condemned that she is unable to change her circumstances and she ends up as a victim, thus confirming the dominance of men overRead MoreAnalysis Of The Book The Yellow Wallpaper 984 Words   |  4 Pagesâ€Å"The Yellow Wallpaper† is a story that I feel could be interpreted in many different ways. It is narrated by an unnamed woman who says she suffers from nervous depression. A common perspective of this story is that the woman is driven crazy by her husband because he kept her locked in a room and surrounded by hideous wallpaper. We can interpret that she saw herself inside of the yellow wallpaper and tries to escape. When she does escape, she crawls over her husband John’s fainted body. Does she actuallyRead MoreAnalysis Of The Book The Yellow Wallpaper 978 Words   |  4 PagesIn the novel, The Yellow Wallpaper, the narrator and her husband move into a marvelous house. The narrator suffers from depression and is ordered by her husband to get plenty of rest and is not allowed to work and write. Despite her husband’s orders, the narrator begins to write in her secret journal. In her journal, the narrator describes the house. At first, her descriptions of the house where positive with minor disturbances like the bars on the window and the â€Å"rings and things† in the walls,Read MoreAnalysis Of The Book A Good Man And The Yellow Wallpaper 1563 Words   |  7 PagesThe theme of isolation is a heavy premise throughout all three books that help to shape not only certain characters but also provide insight on fundamental qualities of their identities. The object of this essay is to prove who seems to be the most solitary character between the books Light in August by William Faulkner, A Good Man is Hard to Find by Flannery O’Connor and The Yellow Wallpaper by Charlotte Perkins Gilman. In these stories, the idea of isolation is the loneliness that has been experiencedRead MoreAnalysis Of The Book Hills Like Wh ite Elephants And Charlotte Perkins Gilman s The Yellow Wallpaper 1633 Words   |  7 Pages In comparison with Ernest Hemingwayn’s â€Å"Hills like White Elephants† and Charlotte Perkins Gilman’s â€Å"The Yellow Wallpaper†, both female’s thoughts and feelings are oppressed under the constant weight of their male supplements. With this being the case, are women truly happy with whom they are choosing to spend the rest of their lives? In both Hemingway and Gilman’s short stories, the females are both being portrayed as characters who capitulate to the demands of their male-orientated significantRead MoreThe Yellow Wallpaper, By Charlotte Perkins Gilman1271 Words   |  6 PagesCharlotte Perkins Gilman, author of the novel entitled, The Yellow Wallpaper significantly used the aspects of literature such as genre, stance, and register to express the social message concerning the sufferings that women undergo in their daily affairs. However, most of the females do not have control over the challenges that develop in their surroundings. Gilman also uses the book to entertain the society members thus providing relief to the readers. In essence, the author of the novel aboveRead MoreCharacter Analysis : Character s Behavior1377 Words   |  6 PagesCharacter analysis is the critical evaluation of a character’s behavior, role in the story and the struggles they experience as the story unfolds (Fleming). The character in a story is normally described in detail, meaning that the reader knows their age, ethnicity, and distinctive physical features important to the story line. Analyzing the character’s behavior, personality, motivation and relationship with others enables one understand the external and internal qualities (Fleming). The characterRead MoreLiterary Analysis Of The Yellow Wallpaper1174 Words   |  5 PagesThe Woman Rocks the Cradle Charlotte Perkins wrote the short story The Yellow Wallpaper. For this analysis paper, I am only going to mainly talk about three characters and they are as follows: the narrator (some call her Jane), John (a certified physician and the husband), and the narrator’s brother (also a physician). This story starts off with the narrator talking about the new transition she has made with her husband John into a new house. On the very first page, she begins to explain how sheRead MoreThe Yellow Wallpaper By Charlotte Perkins Gilman1667 Words   |  7 Pagesâ€Å"The Yellow Wallpaper† is a semi- autobiography by author Charlotte Perkins Gilman who wrote it after going through a severe postpartum depression. Gilman became involved in feminist activities and her writing made her a major figure in the women s movement. Books such as â€Å"Women and Economics,† written in 1898, are proof of her importance as a feminist. Here she states that women who learn to be economical ly independent can then create equality between men and women. She wrote other books such as

ALLEN - Surname Meaning and Origin of Last Name Allen

The Allen and Allan surname derive from aluinn, meaning fair or handsome. The Allan surname spelled with an a is generally considered to be associated with Scottish clans, including Clan Donald, Clan Grant, Clan MacFarlane, and Clan MacKay. Spelled with an e, however, the Allen surname is generally considered to be English in origin. However, a variety of names from a variety of regions might be anglicized as either Allen or Allan, so the name spelling may not point to your familys origin. Surname Origin ï » ¿Scottish, English Alternate Surname Spellings ï » ¿ALAN, ALLAN Famous People With the Surname ALLEN Ethan Allen - leader of the Green Mountain Boys and an American officer during the Revolutionary WarKris Allen - winner of American Idol, season eightLily Allen - British pop starRichard Allen - minister, educator, writer, and founder of the African Methodist Episcopal (AME) denominationMarcus Allen - National Football Hall of Fame member, inducted 2003 Genealogy Resources for the Surname ALLEN ï » ¿100 Most Common U.S. Surnames Their MeaningsSmith, Johnson, Williams, Jones, Brown... Are you one of the millions of Americans sporting one of these top 100 common last names from the 2000 census? Allen Family Genealogy ForumSearch this popular genealogy forum for the Allen surname to find others who might be researching your ancestors, or post your own Allen query. There are also separate forums for the ALLAN and ALAN variations of the Allen surname. FamilySearch - ALLEN GenealogyFind records, queries, and lineage-linked family trees posted for the Allen surname and its variations. DistantCousin.com - ALLEN Genealogy Family HistoryFree databases and genealogy links for the last name Allen. ----------------------- References: Surname Meanings Origins Cottle, Basil. Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967.Menk, Lars. A Dictionary of German Jewish Surnames. Avotaynu, 2005.Beider, Alexander. A Dictionary of Jewish Surnames from Galicia. Avotaynu, 2004.Hanks, Patrick, and Flavia Hodges. A Dictionary of Surnames. Oxford University Press, 1989.Hanks, Patrick. Dictionary of American Family Names. Oxford University Press, 2003.ï » ¿Smith, Elsdon C. American Surnames. Genealogical Publishing Company, 1997.

Resolving Senkaku / Diaoyudao Islet Disputes Graph Model...

Confrontation Analysis 1 Vicka Kharisma-29012019 Resolving Senkaku / Diaoyudao Islet Disputes: Graph Model for Conflict Resolution (GMCR) Analysis Vicka Kharisma1, Pri Hermawan2, Khrisna3 Institute of Technology Bandung, School of Business and Management, Bandung, Indonesia Abstract: This paper illustrates the territorial dispute over the Diaoyu / Senkaku islet between Japan , People of China (POC - China). The dispute over the islet is also linked to other important factors, one of them is the rights to exploitation of natural resources. In this study, the conflict is by using GMCR (Graph Model for Conflict Resolution). The GMCR model (Graph Model for Conflict Resolution) is used to systematically describe the process of changes in†¦show more content†¦Japan claims that it has had sovereignty over the Senkaku Islands since their formal annexation in 1895. According to Japan, at that time the islands were uninhabited and terra nullius, meaning that they belonged to no state (Soons Schrijver, 2012) However, according to China, the isletat that time already belonged to China. The real interest in the islands lies in the potential economic value of oil and gas exploitation as well as the fisheries of the surrounding sea areas that could be financially bene ficial for either country. The ability for deepwater drilling for the offshore oil and gas makes the Senkaku Islands something to continue to argue and fight over for control. Before the discovery of oil and gas deposits in the area of the islands all the parties had a rather inert attitude towards the Diaoyu / Senkaku Islands. Today though, there is no denial that the Diaoyu / Senkaku conflict is related to the presence oil. Commonly, a territorial disputes is bilateral conflict between two countries, but in this case they play an important role in trilateral relations among the United States, Japan, and China. The United States is an important actor in Japan - China sovereignty disputes, especially the confict over the Senkaku / Diaoyudao Islet, because before World War II

Principles of Financial Markets Woolworth and Wesfarmers

Question: Discuss about the Principles of Financial Markets for Woolworth and Wesfarmers. Answer: Introduction: This report carries out the fundamental analysis of Woolworth and Wesfarmers. In this report, the fundamental analyses of these two organizations is done using top down analysis and bottom up analysis is carried out. In top down analysis, the analysis of economic environment that affect sthe organization, industrial factors and the firm internal factors will be discussed. Along with this, in bottom up analysis, the various ratios such as liquidity ratio, profitability ratio, efficiency ratio, capital structure ratio, and market performance ratio of Woolworth and Wesfarmers will be discussed. Industry profile: Retail industry Retail industry is also changing as per the advance in technologies and changing social environment. Today fast moving consumer goods have a great demand in the market due to change in the lifestyle of consumers. People prefer packed food and ready to use products. These factors are flourishing the retail industry. Retail industry is one of the most growing industries in the global market (Grugulis andBozkurt, 2011). There are immense numbers of opportunities in the retail industry. In Australia, there are various retail sector giants are present such as Woolworth, Wesfarmers and Dick Smith Electronics. Retail industry has a major role in the growth of countries GDP. Company profile: Woolworth limited Woolworth limited is the Australian based multinational retail organization. Woolworth founded in 1924. This is one of the largest retail sector organizations in the Australia (Woolworth, 2016). The founders name of Woolworth is George creed, Percy Christmas, Stanley Chatterton, Ernest Williams and Cecil Scott Waine. The current chief executive officer of the organization is Bradford Banducci. The total revenue of the organization in 2015 16 is $59 billion Australian dollars. Headquarter of Woolworth limited is situated at New South Wales, Australia. There are various numbers of subsidiary organizations of Woolworth in market such as Woolworths online, Woolworths supermarkets, and Thomas dux grocer (Woolworth, 2016). The organization is listed on the Australian stock exchange. The total numbers of employees working across the various countries in Woolworth are 198,300. The organization has more than 850 stores. Mission statement Woolworth's aim is to be at the heart of the community and the best loved retailer for kids, home, and family leisure (Woolworth, 2016) Wesfarmers Wesfarmers is the multinational retail giant, which originated from Australia. Headquarter of Wesfarmers is situated at Perth, Australia. Organization has full command on the market. The organization founded in 1914 (Wesfarmers, 2016). The managing director of Wesfarmers is Richard Goyder. The total revenue of the organization in 2015 2016 is 65.98 billion AUD. More than 200000 workers are working in Wesfarmers. For the investment purpose, Wesfarmers is one of the most lucrative organizations for investors because of its earnings per share. Wesfarmers has number one rank in Australia in terms of revenue generation. The share of Wesfarmers is listed on ASX (Australian Stock Exchange). Mission statement create values and satisfy needs and desires of consumers by delivering quality products (Wesfarmers, 2016) Top down analysis of Woolworth limited and Wesfarmers Top down analysis is the macro analysis of the organization it includes economic analysis, analysis of industry, and analysis of organization (Bracker, 2011). The economic analysis includes the external factors of the economy that affects the organization. These factors are like gross domestic product growth, inflation rate, current value of currency and monetary policy of government. Australian economy is $1.62 trillion economy. The retail sector has a great role in the GDP of Australian economy. The current growth rate of Australian GDP is 3.1% (Australian bureau of statistics, 2012). So, there is good demand in the Australian market as per the GDP and this thing is good for both Woolworth and Wesfarmers have a great opportunity in market because approx 6% share of retail sector are there in the total GDP of Australia. Inflation in Australia is under control, the current inflation rate of the Australia is only 1% that is very good for economies health (Reaserve bank of Australia, 2016). Due to this, purchasing power of the customer in the domestic market will be good and this will generate the demand of retail sector product. Both Woolworth and Wesfarmers will enjoy profit due to this. The current value of Australian dollar is .7698 in comparison to USD. So there is great chance for Woolworth and Wesfarmers to expand their business in European countries where the purchasing power of consumers is good because of the higher value of currency. Industry analysis includes various things such as demand and supply conditions, life cycle of industry, risk that is prevailing in the industry and competitive advantage. The Australian economic condition is good. The growth of GDP is also good in the Australia in which retail sector has significant role (Coleman, 2016). Woolworth and Wesfarmers, both are retail sector organization. The demand and supply of products of Woolworth and Wesfarmers is also good due to controlled inflation in Australia. Woolworth and Wesfarmers both are the leading retail sector organizations. Both the organizations are giving competition to each other in the market. There are also some other competitors of these organizations are present in the market such as Treasury wine estates, Bega cheese limited, Costa group and Tassal group. Nevertheless, Woolworth and Wesfarmers are well-established organizations (Vogel, 2014). They have a brand image in the market. They cover large amount of retail market. Therefore, Woolworth and Wesfarmers have competitive advantage in the market over other competitors. The major risk factors that will affect Woolworth and Wesfarmers are, turmoil in customer taste and preference. Enterprise analysis is the analysis of the internal environment of the organization. In this the strategy of management and feasibility of goals and objective will be analyze. Woolworth ltd main objectives and goals are get leadership in market over other competitors, focus on the profit generation. These goals are seems to be achievable because of the effective strategy of the organization (Woolworth, 2016). The strategy of organization is to adopt the technology and do developments in the business after the learnings from customer feedback. Wesfarmers objective is to create the values and increase the returns of the shareholders (Wesfarmers, 2016). To achieve those objectives organization has various strategies such as robust financial control over various operational activities, do innovation timely as per the need of market and maintain flexibility in the operation where anyone can share their ideas and implement those ides if they found suitable for the organization. Bottom up analysis Bottom up analysis of Woolworth and Wesfarmers are as follows: Calculation of Liquidity ratio Name of ratio Woolworth (2016) $ m Wesfarmers (2016)$ m Industry average liquidity ratio: current ratio = Current assets / current liabilities 0.825892112 0.929009977 1.9 Current Assets 7427 9684 Current Liabilities 8992.7 10,424 Quick ratio = current assets - inventories/ current liabilities 0.318980951 0.328472755 0.315 Current Assets 7427 9684 Current Liabilities 8992.7 10,424 Inventory 4558.5 6,260 Cash ratio= cash + cash equivalents / current liabilities 0.10542996 0.058614735 cash cash equivalent 948.1 611 current liabilities 8992.7 10,424 Source: Annual report, (2016) Calculation of profitability ratio Name of ratio Woolworth (2016) $ m Wesfarmers (2016) $ m Industry average Profitability ratio: Gross profit margin = gross profit/ revenue * 100 26.83488915 22.58212236 2.9 Gross profit 15,638 14,794 revenue 58,276 65,512 Net profit margin= net profit / revenue * 100 1.423898305 0.616844243 46.92% Net profit 840.1 407 revenue 59,000 65,981 Operating profit margin ratio = Operating profit / revenue * 100 2.754502321 0.973007381 76.33% Operating profit 1605.2 642 revenue 58,276 65,981 return on shareholder fund = Net income / shareholder fund * 100 9.917833447 1.773933505 Net income 840.1 407.1 shareholder fund 8470.6 22949 Return on assets = net profit before tax / total asset * 100 3.333742 4.416607807 4.68% net profit before tax 1359.6 1038 total asset 40783 23502.2 Source: Morningstar, (2016) Calculation of Efficiency ratio Name of ratio Woolworth (2016) $ m Wesfarmers (2016) $ m Industry average Efficiency Ratio: Inventory turnover ratio = average inventory / cost of sales * 365 35.06242888 44.63828707 18.465 average inventory 4558.5 6,260 cost of sale 47,454 51,187 Trade payable turnover = average trade payable / cost of sale * 365 58.9196485 46.28548264 47.9days average trade payable 7660.2 6,491 cost of sale 47,454 51,187 Trade receivable turnover = average trade receivable / cost of sale * 365 4.294253382 17.56295544 42.9 days average trade receivable 558.3 2463 cost of sale 47,454 51,187 Sale revenue to capital employed = sales revenue / capital employed 4.016403046 2.15791034 sales revenue 58,276 65,512 capital employed 14509.5 30359 Source: ADVFN, (2016) Calculation of Capital structure ratio Name of ratio Woolworth (2016) $ m Wesfarmers (2016) $ m Industry average Capital structure ratio: Equity ratio = total equity / total assets * 100 36.04173226 56.27099527 10.5 Total equity 8,470.60 22,949 total assets 23,502.20 40,783 Debt to equity ratio = total liabilities / total equity * 100 177.4561424 77.71144712 55.9 Total liabilities 15031.6 17,834 Total equity 8,470.60 22,949 Gearing ratio = long term debt / capital employed * 100 26.65839622 18.67979841 27 Long term debt 3868 5671 Capital employed 14509.5 30359 Source: Investing, (2016) Calculation of Market performance ratio Name of ratio Woolworth (2016) $ m Wesfarmers (2016) $ m Industry average Market Performance ratio: Earnings per share= net income available to shareholder/weighted average share outstanding*100 -97.7056962 36.24220837 net income available to shareholder -1235 407 weighted average share outstanding 1264 1123 Price earnings ratio= MPS/EPS*100 -21.38053441 110.6444717 27.65 Market price per share 20.89 40.1 Earnings per share -97.7056962 36.24220837 Source: ADVFN, (2016) Ratio analysis Liquidity ratio Liquidity ratio is used to determine the capability of the company for paying its debt (Lasher, 2013). Under liquidity ratio; there are three types of the ratios are to be calculated such as current ratio, quick or acid test ratio and cash ratio. Current ratio: Current ratio is one of the types of liquidity ratio which is used to determine the capability of the company in paying its long term as well as short term obligations. If the current ratio of the company is less than 1than the liabilities of the company is more as compare to its total assets. Current ratio of Woolworth ltd is 0.83 and Wesfarmers ltd is 0.93 in June 2016 (Kenyon, 2016). The current ratio of both the companies is less than 1. It means that both the companies are not financially sound, but the condition of Wesfarmers ltd is good as compare to Woolworth ltd because the current ratio of Wesfarmers is high as compare to Woolworth. Quick ratio: Quick ratio shows the capability of company in meeting out its short term responsibilities. Quick ratio of Woolworth is 0.32 and quick ratio of Wesfarmers is 0.33 in 2016. The Quick ratio of both the companies is less than 1, which means that both the companies will depend upon their assets for making payment to their current liabilities. The Quick ratio of Wesfarmers is more than Woolworth because which the condition of Wesfarmers is good as compare to Woolworth. Cash ratio: Cash ratio is the ratio which determines the payment of current liabilities of the company through cash and cash equivalent. The cash ratio of Woolworth is 0.11 and cash ratio of Wesfarmers is 0.059 in June 2016. In this the cash ratio of both the companies is less than 1, which means that current liabilities of both the companies is more than there available cash cash equivalent. This situation is not so good for both the companies but if we compare cash ratio of both the companies than the position of Woolworth ltd. is much better than Wesfarmers ltd. Profitability ratio Profitability ratio shows the capability of the business in creating profits from its workings (Nelson, 2012). Under profitability ratio there are many types of the ratio are calculated for judging the profitability of the company. The ratios are: Gross profit margin: Gross profit margin of Woolworth is 26.83 and Wesfarmers is 22.58 in 2016. If the Gross profit margin ratio is good than company is able to meet the future liabilities (Madura, 2011). Here Woolworth has more profit margin ratio than Wesfarmers. Therefore Woolworth can perform their regular activities smoothly such as manufacturing process and meet its future responsibilities more effectively in comparison to Wesfarmers. Net profit margin: Net profit margin ratio of Woolworth is 1.42 and Wesfarmers is 0.61 in 2016. If the net profit margin of the company is high than the company can control its cost effectively. Here Woolworth has more net profit margin than Wesfarmers due to which Woolworth can control its cost effectively and the investors of the Woolworth can be more profitable than the investors of Wesfarmers. Operating profit margin ratio: High Operating profit margin ratio shows that the financial position of the company is good and it has earning more from its operations. Operating profit margin ratio of Woolworth is 2.75 and Wesfarmers is 0.97 in 2016 (Morningstar, 2016). In this analysis, the operating profit margin ratio of Woolworth is high than Wesfarmers in 2016. This shows that Woolworth can cut shorts its running expenses and earns more than Wesfarmers. Return on shareholders fund: If the return on shareholders fund is high than it grabs more attention of the investors towards the company and each investors search this kind of organization to invest (Chandra, 2011). This means that, high return on shareholders fund is better than the low return. The return on shareholders fund of Woolworth is 9.91 and Wesfarmers is 1.77 in 2016. From this analysis it can be said that Woolworth can tempt more investors than the Wesfarmers. Return on assets: Return on assets of Woolworth is 3.33 and Wesfarmers is 4.41 in 2016. High ratio of return on assets is more effective for investors and for the company. High ratio shows that the company is earning more through the use of its assets. From this analysis the ratio of Wesfarmers is high as compare to Woolworth, which means that the position of Wesfarmers is quiet good as compare to Woolworth. Efficiency ratio Efficiency ratio Efficiency ratio define the efficiency of the organization (Warren et al, 2013). In this ratio it is find out that weather the organization are utilizing there resources such as balancing assets and liability in the proper manner or not. Efficiency ratios are: Inventory Turnover ratio: Inventory turnover ratio shows how well company can maintain or controls its inventory. High inventory ratio shows that company has made reasonable investment on its inventory and low ratio shows that company has made excessive investment on its inventory. High inventory turnover ratio is better for the company. The inventory ratio of Woolworth is 35.06 and Wesfarmers is 44.63 (Investing, 2016). From this analysis it can be said that Woolworth has better control over its inventory than Wesfarmers. Average payment period: The Average payment period of Woolworth is 58 days and Wesfarmers is 46 days. The short average payment period is good for the company in compare to long period. The shorter period states that the company requires less credit for its operations and makes the due payments early. In this situation Wesfarmers has shorter period of payment which shows that Wesfarmers has made all its dues on time compare to Woolworth. Average collection period: the average collection period implies that the company collects its dues within the time frame. The average collection period of Woolworth is 4 days and Wesfarmers is 17 days in 2016. The shorter period of collection benefited company than the longer period. The average collection period of Woolworth is much less than Wesfarmers, which states that Woolworth received payments from its debtors in less time compare to Wesfarmers. Sale revenue to capital employed: sale revenue ratio of Woolworth is 4.01 and Wesfarmers is 2.51 in 2016 (ADVFN, 2016). Sale revenue ratio shows the capability of the company in generating revenue from its assets. High sale revenue ratio is more effective than the low sale revenue ratio. The sales revenue of Woolworth is more than the Wesfarmers, which means that Woolworth is more capable of generating sales as compare to Wesfarmers. Capital structure ratio capital structure ratio provides the information about the financial structure of the organization. This ratio examines the various financial statement and find out the solvency and liquidity of the organization (Haqqani and Zehra, 2015). capital structure ratio includes equity ratio, debt equity ratio and gearing ratio. Equity ratio the equity ratio of Woolworth is 36.4 whereas the Wesfarmers is 56.27. As per the equity ratio the present condition of the Wesfarmers is good then Woolworth because of higher equity ratio then Woolworth. There are various significances of higher equity ratio for the organizations such as it shows how healthy organization is and attract the new creditors to invest money in the organization, Wesfarmers will enjoy these significances more in compression to Woolworth, which have low equity ratio. Debt equity ratio the debt equity ratio of Woolworth is higher than Wesfarmers. Woolworth debt equity ratio is 177.45 and the Wesfarmers is 77.71. This ratio is use to find out the financial risk of the organization (Feld et al, 2013). Here the debt equity ratio of Woolworth is higher in comparison to Wesfarmers that shows that Woolworth has higher financial risk. Gearing ratio Gearing ratio is the part of capital structure ratio. The gearing ratio of Woolworth is 26.65 and Wesfarmers is 18.67. This ratio shows the proportion of fixed cost and the equity capital. If organization have high gearing ratio then it is good for organization because it shows organization has low cost. Here the Woolworth has high capital gearing ratio in comparison to Wesfarmers. It shows that Woolworth financial condition is good in comparison to Wesfarmers. Market performance ratio Market performance ratio shows market performance of the organization (Lasher, 2013). It provides the information about the earning of shareholders on the investments. It includes earning per share ratio and price earnings ratio. Earnings per share ratio The earning per share of Woolworth is -97.70 and Wesfarmers is 36.24. Therefore, the earnings of shareholders are negative for Woolworth, which is not good for company. Whereas the Wesfarmers earning per share is good investors get good returns. Price earnings ratio The price earnings ratio of Woolworth is -21.38 and Wesfarmers is 110.64. This data is not good for Woolworth but favorable for Wesfarmers. Due to attracting results, investor will do investments in Wesfarmers. Recommendation Woolworth and Wesfarmers have to maintain flexibility in their system and do changes on the basis of change in economic conditions of the country such as increase in inflation rate and changes in currency value. Liquidity position of Wesfarmers is high compare to Woolworth. So Woolworth needs to focus on maintaining liquidity in the company. The profitability and efficiency position of Wesfarmers is not good as compare to Woolworth. To maintain profitability and efficiency position, Wesfarmers needs to control its cost, inventory and do optimum utilization of its assets. Conclusion: From the above report, it can be concluded that the Woolworth and Wesfarmers have a good brand image in the market and the demand in retail sector is also good because of growth of GDP in Australia. However, there is significant competition in the retail sector of Australia and Wesfarmers have edge over others because of their sound strategy planning and implementation. On the basis of ratio analysis, it is concluded that the financial position of Wesfarmers is better than Woolworth. References: ADVFN, (2016) Wesfarmers Financial Data [Online]. Available at: https://au.advfn.com/stock-market/ASX/WES/financials (Accessed: 9 September 2016). Australian bureau of statistics (2012) VALUE OF GOODS AND SERVICES PRODUCED BY AUSTRALIAN INDUSTRY [online]. Available at: https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/1301.0~2012~Main%20Features~Value%20of%20goods%20and%20services%20produced%20by%20Australian%20Industry~240 (Accessed on 09 September 2016). 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