Hearing is a one of the vital senses of a human being. The organ involved in hearing is the ear.

The transmission of the sound waves from the source occurs through the external auditory canal

to the middle ear. In the middle ear, there are small bones commonly referred to as the ossicles

which include the malleus, incus and stapes that convert the sound waves into electrical stimulus

that is detected by the sensory neurons in the ear. The main nerve that is involved in the process

of hearing is known as the vestibular cochlear nerve. Some of the causes of damage to the

hearing system include trauma, drugs such as aminoglycosides, infections, and loud noise.

(NIDCD 2014).

The damage to the ear results in divergent symptoms mainly depending on the cause.

Some of the most common symptoms are ear-pain, discharge of pus or blood, tinnitus i.e. ringing

sounds in the ear, irritation and itchiness. The symptoms of damage to the hearing system i.e. the

ear, may appear suddenly or graduals in a manner that they are difficult to detect easily. It thus

calls for the individuals or parents to be highly suspicious and be able to identify the issue

quickly using the symptoms that appear early (PAMF or Palo Alto Medical Foundation-

2015). If not treated, any minor damage may result in hearing loss. Early treatment is hence

advised with the aim of eliminating the problem before it becomes a permanent issue i.e. loss of

hearing. Nevertheless, if the cause e.g. trauma was severe at the first encounter, it might directly

cause loss of hearing. Damage to the ear may result in difficulty in hearing the voice of people

clearly and thus leading to misunderstanding of the info that was being conveyed (Asha Sphere

2013).

In addition; the affected individual keeps on telling people to repeat what they have already said.

Another symptom that could be indicative would be an individual listening to music or watching

the television whose volume is high. On the other hand, some people tend to hear the sounds of

low frequency as loud sounds that are commonly referred to as hyperacusis. This mainly results

from the damage to a muscle known as the stapedius muscles that are located in the middle ear

where it supports the small bones of the middle ear i.e. the ossicles (Hidden Hearing- ND).

Such individuals also tend not to hear a doorbell or even a phone ringing. In children, there are

several symptoms that show that there is damage to the hearing system. One major symptom is

that the child lacks to get startled by sounds of high frequency. In addition, affected children tend

to talk loudly and learn to speak slowly (Mayo Clinic- 2014).

Currently, the researchers have solved the problem of hearing for the children born

lacking hearing nerve. In this case, the cochlear implants and the hearing aids cannot help. Such

individuals cannot perceive any sound no matter the frequency or amplitude. The researchers

have come up with an auditory brainstem implant that can induce the nerves located in the

brainstem directly. In this way, it eliminates the need for the cochlear nerve (BHI 2015). Another

study carried out recently has shown that supplements of vitamins to be helpful in the prevention

of hearing loss that is induced by noise. The experiment was done in a mouse by the use of

Vitamin B3. In addition, the vitamin supplements are effective in treating some of the age-related

diseases caused by the lack of that protein. The people of 65 years or more are getting trapped by

hearing loss known as presbycusis. ( HLAA- 2015)

Treatment of a patient who present with the symptoms of hearing system damage

depends on the cause. In case a person has pus discharging from the ear, the likely diagnosis is

otitis media and hence they are given antibiotics. In case the cause was trauma, a surgery may be

performed. For people with hearing loss, hearing aids are used as a mode of treatment. In

children too, the reason through the various tests detected first and then the exact treatment is

decided (NCPH – 2015).

Prevention mainly entails strategies that are aimed at preventing the different causes of

the damage. One main strategy is good hygiene of the ears to ensure that there are no infections.

In addition, one ought not to listen to music at a high volume. Also, regular ear check-up is

necessary for all but be conscious about children and infants. One should also avoid the use of

excessive drugs such as aminoglycosides (Caring, 2007).

References

Sound and Hearing Loss: Symptoms of Damage

Citation

1. NIDCD. (2014). Noise-Induced Hearing Loss. Retrieved May 09, 2015, from

http://www.nidcd.nih.gov/health/hearing/pages/noise.aspx

2. BHI. (2015). Signs of hearing Loss. Retrieved May 09, 2015, from

www.betterhearing.org/hearingpedia/signs-hearing-loss

3. Asha Sphere (2013) Know The Sign of Hearing Loss. Retrieved May 09, 2015, from

the site

http://www.asha.org/public/hearing/Hearing-Loss/

4. Hidden Hearing (ND). Hearing Information. Retrieved May 09, 2015, from

http://www.hiddenhearing.co.uk/hearing-information/

5. Mayo Clinic (2014). Diseases and conditions Hearing Loss- symptoms. Retrieved

May 09, 2015, from http://www.mayoclinic.org/diseases-conditions/hearing-

loss/basics/symptoms/con-20027684?reDate=09052015

6. Caring (2007). Hearing Loss Signs- 6 Early Warning Signs of Hearing Loss.

Retrieved May 09, 2015, from https://www.caring.com/articles/early-warning-

signs-of-hearing-loss

7. PAMF (Palo Alto Medical Foundation) (2015). Symptoms of Hearing Loss in

Children. Retrieved May 09, 2015, from

http://www.pamf.org/hearinghealth/facts/children.html

8. NCPH (2015). Early Hearing detection and Intervention Program. Retrieved May

09, 2015, from

http://www.ncnewbornhearing.org/lateonset.htm

9. HLAA (2015). Hearing Loss Basics Retrieved May 09, 2015, from

http://www.hearingloss.org/content/basic-facts-about-hearing-loss

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Monroe Doctrine

The Fifth US President James Monroe had announced about Monroe Doctrine in his speech on

December 2, 1823.This had a significant role that dealt with the development of the country.

According to this doctrine, the United States that just got independence would not accept power

of European countries to interfere in the affairs of the Western Hemisphere countries. But, in

case the European tried to interfere, the war would be the only option to retaliate.

Not only the President Monroe, but the state secretary John Quincy Adams was much more

responsible for stating the doctrine.

In 1822, none other than Bolivia were dependent under control of some other countries. Only

this one in Latin America had to follow the Spanish rules and regulations. Moreover, some other

islands in Caribbean continued under the control of Spain. In April 1823, when the war appeared

in the countries of Europe, the US government was horrified about those colonies in the US that

were in Spanish control. They thought the probability of controlling could be ceded to either

Quincy Adams, the secretary of the state, explained the concern outlining through a letter to

Hugh Nelson, the minister of Spain. The important countries like Spain, Britain, France and

Russia got involved and Britain tried to put an effort in front of the United State, which was

refused by Adams. When Adams argued in the cabinet of the president, then he forced on the

unilateral declaration and the president agreed. This declaration had some principles and these

were together known as Monroe doctrine. These principles are as follows-

 The colonization for the Western hemisphere would not be possible as it would not be

 There is a huge difference between the political system of Europe and America.

 There would be the refrain from the contribution of the United States in the wars of

 Any interference in the Western Hemisphere would be regarded by the US as a danger to

The United States invoked this doctrine in different areas and all those countries got their right

position. It took decades to settle and make it perfect for the nation, but lastly it succeeded.

Reference- http://www.u-s-history.com/pages/h255.html

http://www.ask.com/history/monroe-doctrine-important-4e43784554899ff4#full-answer

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analytical techniques – exam paper

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Drug & pharmaceutical industry plays a vital role in the health care of the any country.Rapid growth of this industry requires further attention because even after 50 years of independence, India, with around 15 percent of the World population, accounts for lessthan 2 percent of the drug production in the world. Annual per capita consumption of medicine in India is less than 2% of that in Japan. Health care expense in India is adismal 0.8 percent of GDP compared with 12.4 percent in U.S.A. 6.5% in Japan and 6.2 percent in the U.K, despite higher incidence of disease and malnutrition. The povertyand disease in India on one hand calls for higher standard of healthcare and pharmaceuticals production and on the other, stultifies the growth of industry due to poor affordability of an average Indian. Drug & Pharmaceutical industry has therefore,encountered a tough situation which most industry have always found difficult,to provide abundant quantity of quality products at low prices.

The Indian Pharmaceutical industry, valued at $46.2 billion has been witnessingattractive growth rate of 15% to 20% consistently over the past decade. This growthwas build by India’s large population, increasing allocation of income to healthcarespending and exports. Exports which currently accounts for 20% of the productionvalue has grown by a compound annual growth rate of 34% in the past few years due tocompetitive price advantages from India’s low labor and other input cost.

The Indian market for pharmaceutical products stands at an enormous $58.8 billion.The big 10 companies account for over 30% of that, take away 45 marketer and averagesales don’t even come any where near the $2.5 million marks, that’s how fragmented itsis some 50,000 brands from over 20,00 companies growing fast enough to embarrassrainy day mushrooms and enough diseases to savage Indian population all several times  over and turn Dr. Dolittle into Dr. Don’t care..

About MSD
MSD Pharmaceuticals Private Limited is an affiliate of Merck & Co. Inc., USA. (also known as Merck Sharp &Dohme or MSD in many parts of the world), a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891, Merck Sharp &Dohme currently discovers, develops, manufactures and markets vaccines and medicines to address unmet medical needs.

With global headquarters in New Jersey, USA, Merck & Co. Inc. 2007 sales stood at US $24.2 billion with 59,800 employees and product sales spanning 140 countries worldwide. The Merck Manufacturing Division employs more than 12, 000 people at locations in 25 countries.

UNPARALLELED SCIENTIFIC EXCELLENCE
Merck & Co. Inc., USA success has always been based on innovation and scientific research. A commitment to excellence in research is at the heart of its philosophy and strategy. Since the founding of its research laboratories over 70 years ago, Merck & Co. Inc. has developed more than 100 new medicines and vaccines.

The Merck Research Laboratories employs approximately 9,500 people at sites in the United States, Canada, Europe and Asia. In 2007 Merck & Co. Inc. invested US $4.9 billion in R&D.

Currently Merck’s priority areas of focus in therapeutic research include Alzheimer’s disease, atherosclerosis, cardiovascular disease,

diabetes, novel vaccines obesity, oncology, pain, and sleep disorders. These therapeutic areas were carefully chosen based on a set of criteria including unmet medical needs, scientific opportunity and commercial opportunity. Within these therapeutic areas, Merck & Co. Inc. has committed resources to achieve research breadth and depth and to develop best-in-class targeted and differentiated products that are valued highly by patients, payers and physicians.

MSD operates in India via three separate legal entities MSD Pharmaceuticals Pvt. Ltd., Organon India Limited and Fulford India Limited. 

Since its existence in India, the company has moved quickly in laying the foundation for a successful business in India; a business that is differentiated by its focus on putting patients first and launching innovative products those are relevant to India. MSD India currently operates in various therapeutic areas including Metabolics, Cardiovascular, Vaccines, Critical Care, Immunology, Virology, Oncology, Women’s health, Dermatology, Respiratory, Virology, Muskulotology and Primary Care.

Post integration with Schering-Plough, the new MSD India offers a much stronger, diversified and higher value product portfolio of over 75 brands in various therapeutic areas, of which 13 are already category leading products.

Vaccine                                            

Our world-class prophylactic and therapeutic vaccines bring relief to millions of people in the region. Vaccines are one of the greatest public health success stories of the 20th century, and Merck has played its part in that story. We are one of a few companies who remain dedicated to the complex business of researching and producing vaccines.

Primary Care

We are committed to improving communities’ access to healthcare through our products and solutions. Our direct contact with healthcare providers and institutions ensures that widest reach of and access to put industry-leading products.

MSD in India and Sun Pharmaceutical Industries Ltd. (Sun Pharma)  announced formation of an India-specific strategic partnership agreement under which Sun Pharma will have the right to market, promote and distribute MSD’s diabetes products, sitagliptin and sitagliptin plus metformin, under different brand names in India.  

Both partners complement each other’s strengths in this arrangement. While MSD in India brings the scientific excellence and market success of the compound to the partnership, Sun Pharma brings its proven success and expertise in the marketing of drugs in the relevant therapeutic areas across India. This is yet another testimonial to MSD’s commitment towards the patients of India and towards addressing high disease burdens of chronic diseases like type 2

Diabetes, while providing broader access of our first in class and best in class drugs in the country.”

Sun Pharma enjoys a strong relationship with the physician community such as diabetologists, endocrinologists and consulting physicians treating patients with diabetes across India.  Through this partnership, the reach of sitagliptin and sitagliptin plus metformin will be enhanced amongst doctors & patients in India, helping them efficaciously manage the disease.”

A REVIEW OF MARKETING STRATEGIES WORK BY DIFFERENT PHARMACEUTICAL COMPANIES

The current shift in the marketing strategy is work by multinational pharmaceutical Companies .It is now high-end (rather than adaptive) development that is being carried out by leading companies. And, increasingly, other companies are finding themselves competing against, or working with, new innovation-based companies. My study focuses on the processes and outcomes of globally distributed pharmaceutical companies. This article will present the changing marketing strategies when a pharma company shift from Acute base to Chronic therapy base. This research paper will also give an insight about shift in supply chain process and customer and end-customer perception which is the base of formulation of different marketing strategies.

The pharmaceutical industry is the world’s largest industry due to worldwide revenues of approximately US$2.8 trillion. Pharma industry has seeb major changes in the recent years that place new demands on payers, providers and manufacturers. Customers now demand the same choice and convenience from pharma industry that they find in other segment.

Indian Pharmaceutical Industry is poised for high consistent growth over the next few years, driven by a multitude of factors. Top Indian Companies like Ranbaxy, DRL CIPLA and Dabur have already established their presence.

The pharmaceutical industry is a knowledge driven industry and is heavily dependent on Research and Development for new products and growth. However, basic research (discovering new molecules) is a time consuming and expensive process and is thus, dominated by large global multinationals.

Indian companies have only recently entered the area. The Indian pharmaceutical industry came into existence in 1901, when Bengal Chemical & Pharmaceutical Company started its maiden operation in Calcutta. The next few decades saw the pharmaceutical industry moving through several phases, largely in accordance with

47

(doctor) is responsible . Essentially, the end-user (patient) consumes a product and pays the cost .

Use of medical representatives for marketing products to physicians and to exert some influence over others in the hierarchy of decision makers has been a time-tested tradition. Typically, sales force expense comprises an estimated 15 percent to 20 percent of annual product revenues, the largest line item on the balance sheet. Despite this other expense, the industry is still plagued with some very serious strategic and operational level issues.

2.1 From organizational perspective the most prominent performance related issues are enlisted below:

a) .Increased competition and shortened window of opportunity.

b). Low level of customer knowledge (Doctors, Retailers, Wholesalers).

c). Poor customer acquisition, development and retention strategies

.

d). Varying customer perception.

e). The number and the quality of medical representatives

d). Very high territory development costs.

f). High training and re-training costs of sales personnel.

g).. Very high attrition rate of the sales personnel.

h). Busy doctors giving less time for sales calls.

i). Poor territory knowledge in terms of business value at medical representative level .

j). Unclear value of prescription from each doctor in the list of each sales person.

k). Unknown value of revenue from each retailer in the territory

l). Virtually no mechanism of sales forecasting from field sales level, leading to huge deviations

m). Absence of analysis on the amount of time invested on profitable and not-so-profitable customers and lack of time-share planning towards developing customer base for future markets

n). Manual and cumbersome administrative systems and processes designed

which     don’t   facilitate   optimal   efficiency   levels   in   sales   teams

And many more…………

2.2 Patents

Patents are a vital aspect of the global pharma industry. Patent protection is essential to spur basic R&D and make it commercially viable. But, only the developed nations endorse product patents. Most third world countries have patent laws but enforcement is totally lax. Some developing nations like India, Egypt and Argentina allow only process patent registration.

2.3 New Drug Approval (NDA)

Prior to launching its products in any country, a pharma company undertakes patent registration to protect its own interests. To protect the interests of the consumers, it is necessary that the product be approved by the drug authorities in that country. Mostly the process for seeking approval is initiated alongside the patent registration process.

2.4 WTO

Due to pressure from the developed countries, across the world uniformity in patent laws is being implemented under WTO (World Trade Organization – earlier GATT i.e. General Agreement on Tariffs & Trade). Presently, different countries have different patent types and life period. WTO has decided upon a product patent life of 20 years in all countries.

2.5 RESEARCH & DEVELOPMENT (R&D)

The pharmaceutical industry is characterized by heavy R&D expenditure. It is only the large pharmaceutical companies who can allocate significant resources for R&D to introduce new products. As the products are an outcome of significant R&D expenditures incurred by these companies, they have their products patented. The patent allows the companies concerned to wield immense pricing power for their new products.

2.6 THE COMPETITION

The level of competition in very high in Acute segment on day to day basis

49

however the degree of competition in not as much as high in Chronic therapy area on day to day basis

As doctor has to prescribe drug for a long time in chronic cases and patient is suppose to consume it without any change of brand. While in acute cases doctor is changing brands on day to day basis.

3.Pharmaceutical Company Business Strategies

What’s the secret behind these successes? For one, the company operates in niche formulations (chronic) segments such as psychiatry, cardiovascular, gastroentology and neurology. While most of the top Indian companies have focused on antibiotics and anti– infectives (acute), Sun Pharma focused on therapeutic areas such as depression, hypertension and cancer. The company has introduced the entire range of products and has gained leadership position in each of these areas. Being a specialty company insulates Sun Pharma from the industry growth. The first quarter results for FY02 explain this to some extent. While the industry was affected to a large extent by a slowdown in the domestic formulations market, Sun Pharma logged a growth of 26% in revenues. Over the years Sun has also used the strategy of acquisitions and mergers to grow quickly. It acquired Knoll Pharma’s bulk drug facility, Gujarat Lyka Organics, 51.5% in M. J. Pharma, merged TamilNadu Dadha Pharma & Milmet Labs and acquired Natco’s brands. Post Merger with TamilNadu Dadha Pharma the company gained presence in gynecology and oncology segments.

One of the constants of pharmaceutical company strategy over the past decade has beenincreasing scale. Only by growing larger are companies able to afford the considerable costs of drug development and distribution.

Within this broad approach at least two business models are discernable:

(i)    Super Core Model involving the search for, and distribution of a small number of drugs from Chronic Threapy Area that achieve substantial global sales. The success of this model depends on achieving large returns from a small number of drugs in order to pay for the high cost of the drug discovery and development process for a large number of patients. Total revenues are highly dependant on sales from a small number of drugs.

Core Model in which a larger number of drugs from Acute Threapy Area are marketed to big diversified markets. The advantage of this model is that its success is not dependant on sales of a small number of drugs.

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India has world’s third largest higher secondary education system with a number of institutions. More and more students are going for higher education these days. The result gets reflected on the number of students enrolling for higher education. The number of institutions is also increasing day by day. India has got following numbers of educational institutions (as on December 31, 2007):

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1.1.1 Introduction to the Topic

In modern business, environment organizations are striving hard to meet customer expectations (Lai et al. 2014). These customer expectations are supercilious in nature thus organizations are forced to be quick to respond. Being global is the key to organizational growth especially for the aviation industry. For supporting this global approach in a sustainable manner and gain leadership position, it is a mandate for airline companies to outshine satisfaction level of customers by providing them with quality services, which their competitors fail to.

In airline industry, which is essentially a service business format, quality of customer service perceived and provided drives customer satisfaction (Chen & Chang 2005). Thus, companies need to be exceptional in this area for gaining competitive advantage. Airline companies continually design innovative services for not only meeting customer expectation but also achieve organizational goals.

1.1.2 Introduction to the Company: Etihad Airways

Etihad Airways, founded in the year 2003 by Royal (Amiri) Decree. Its  headquarters are in Abu Dhabi, United Arab Emirates (Bloomberg Businessweek 2015). Since then the airways is striving to gain a leadership position within air transport industry not only in the Middle East but in international arena too (Etihad 2015). Etihad Airways has marked a strong presence in countries from areas like Middle East, Africa, Europe, Asia, Australia, and North America thereby connecting a larger part of the world within a short span of 12 years (Bloomberg Businessweek 2015).

Along with core-air transportation service, Etihad also offers ground services, especially to those availing limousine and lounges. These services are made available in selected cities namely London, Abu Dhabi, Manchester, Frankfurt, Paris, Dublin, and Washington, D.C (Bloomberg Businessweek 2015). Further Etihad also offers training and development for local people categorized as Emiratis through programs related to cadet pilots, technical engineering, and management development. Global Traveller Awards have accredited Etihad with a number of awards in the year 2014 in categories related to Airline of the Year, Best Airline in the Middle East and Best Airport Staff / Gate Agents (Etihad Airways 2014). In 2014 approximately 14.3 million Revenue passengers availed the air transport services by Etihad Airways (Etihad Airways 2014).

1.1.3 Brief Introduction to Literature Review

For the purpose of this research, understanding the concepts of decision making in a consumer based on services quality was the most important aspect.. The impact of consumer satisfaction or dissatisfaction level is understood decisions taken by the same through purchase decision-making process  (Kardes et al. 2010).

The decision making process in a consumer as considered for this research is the Engel-Blackwell-Miniard Model (Masterson and Pickton, 2014). Selection of this model is considered as it concentrates more in an amalgamated ways of understanding service related factors that influence the decision-making approach in a consumer. The basic points analysed in a consumer, by this model are – need recognition, search of information (internally & externally), evaluation of alternatives, purchase, post purchase reflection and divestment (Masterson and Pickton, 2014).

In terms of service quality, a number of models have been proposed for measuring services quality, out of which SERVQUAL is the most crucial and comprehensive one. In accordance to Zeithaml et al. (2010) SERVQUAL is a complete model that aids in identification and analysis of varied perspectives of service provider and customer about a particular service and its quality. With the help of this model, organizations can efficiently categorize varied gaps that are present in service delivery process which affects customer satisfaction. Based on the analysis and identification of unique requirements measures can be taken accordingly to overcome gaps and thereby augment service quality levels. As per Seth et al. (2005) it is one of the most suitable models for determining service quality as it helps in determining the discrepancies present in customer service expectations and that provided by organizations.

1.1.4 Brief Introduction to Research Methodology

The research methodology was designed using an amalgamation of both qualitative and quantitative approaches, which implies usage of mixed method. As the method supports in undertaking a holistic research and thus has been adopted (Martins & Martins 2014). The data get collected through both primary and secondary sources for supporting achievement of research objectives. For making the study more comprehensive, primary data has been collected through 100 customers from Etihad and 100 from Emirates, making 200 in total.  Moreover, 8 managers (4 from each company) from customer service department are contact for interviews of the related companies. Secondary data was collected from varied reliable and authentic published sources (Collis & Hussey, 2014).

1.2 Problem Statement

In modern day environment, airline companies are striving to not only retain their existing customers but also attract new ones to gain sustainable business amidst intense competitive pressures. With new players entering the industry and existing competitors resorting to innovative practices, the only option left with companies like Etihad is to endow customers with satisfaction. Today, partially due to augmentation in technology and partially due to emergence of globalization the opportunities for satisfying customers have also increased.

Irrespective of this fact, due to intense competitive pressures from companies like Emirates and other constraints, Etihad is unable to benefit from its customer service strategies adopted to provide customer satisfaction. Consumer behaviour too is highly dynamic which further aggravates the problem for Etihad. Thus, this research paper attempts not only to understand the varied customer satisfaction related issues faced by Etihad and the remedial strategies used by the company in comparison to its competitors but also provide for measures through which customer satisfaction can be augmented.

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OBJECTIVES: 

The main objectives of the study are as follows: 

1)      To study the financial position of the company.

2)    To analyse the financial stability and overall performance of SAIL in general.

3)    To analyse and interpret the trends as revealed by various ratios of the company in particular.

4)    To analyse the profitability & solvency position of the unit with the existing tools of financial analysis.

5)    To study the changes in the assests,liabilities structure of the company during the period  of study.

METHODOLOGY:

For the detailed analysis of the data, I have adopted different Costing and Accounting procedures and methods like- Cost Sheet, Cash Flow Statement, Ratio Analysis, Sensitivity Analysis, and Discounting Cash Flow technique(NPV Method).  SWOT Analysis was carried out on the financial aspects of the SME sector of the Indian Steel Industry.

For expressing various results into graphs and charts, spread-sheet software MS EXCEL was used.

Finance is one of the most primary requisites of a business and the modern management obviously depends largely on the efficient management of finance. Financial statements are prepared mainly for decision making.

They play a dominant role in setting the frame work of managerial decisions. The finance manager has to adhere to 5 R’s with regard to money. The right quantity of money for liquidity consideration of right quality. Whether owned or borrowed funds, at the right time to preserve solvency from the right sources and at the right cost of capital.

The term financial analysis also known as “analysis & interpretation of financial statements”refers to the process of determing financial strength and weaknesses of the firm

By establishing strategic relationship between the items of the balance sheet ,profit & loss account and other operative data.

The purpose of financial analysis is to diagnose the information contained in financial statements so as to judge the profitability and financial soundness of the firm.

Limitations of the study :

The analysis & interpretation are based on secondary data contained in the published annual reports of SAIL for the study period.

SOURCES OF DATA :

Sources of date are collected from annual reports of the company

From the year 2010-11 & 2011-12.

METHODS  OF DATA ANALYSIS :

The data collected were edited,classified & tabulated for analysis.

The analytical tools used in this study are :

Analytical tools  applied :

1) Comparative Statement

2)  Common  Size Statement

3)  Trend percentage

4)  Ratio Analysis

ANALYSIS AND INTERPRETATION :

Financial statement is an organized collection of data according to logical and consistent accounting procedures.Its purposes to convery an understanding of some financial aspects of a business firm. It may show a position at a moment of time,as in the case of a balance sheet,or may reveal a series of activities over a given period of time, as in the case of a Income statement.Thus the “Financial Statements” refers to two basic statements : (i) the Income statement & (II) Balnace Sheet.

RATIO ANALYSIS:

Ratio Analysis of the Cost Statement of the production process of hot metal (without using sinter):

1) RAW MATERIAL COST: WORK COST=13,695:15,190=1:1.1

2) IRON ORE COST: WORK COST=4,420: 15,190=1:3.4

3) COKE COST: WORK COST=8,800:15,190=1:1.7

4) IRON ORE: COKE=4,420: 8,800=1:2

5) IRON ORE: COKE: FLUX=4,420:8,800:475=9.3:18.5:1

6) FLUX COST: WORK COST=475:15,190=132

7) IRON ORE COST: TOTAL RAW MATERIAL COST=4,420:13,695=1:3

8) COKE COST: TOTAL RAW MATERIAL COST=8,800: 13,695=1:1.6

9) FLUX COST: TOTAL RAW MATERIAL COST=475: 13,695=1:29

10) LIMESTONE: DOLOMITE: QUARTZ=220:225:30=7.3:7.5:1

11) LABOUR COST: WORK COST=500:15,190=1:30

12) DIRECT LABOUR: INDIRECT LABOUR=400:100=4:1

13) UTILITY COST: WORK COST=535:15,190=1:28

14) POWER: WATER=525:10=52.5:1

15) OVERHEAD: WORK COST=100:15,190=1:152

16) STORES & CONSUMABLES: WORK COST=500:15,190=1:30

17) PRIME COST (MATERIAL+DIR. LABOUR): WORK COST=(13,695+400):15,190=14,695:15,190=1:1.034

18) PBDIT: WORK COST=3,060:15,190=1:5

Ratio Analysis of the Cost Statement of the production process of hot metal   (WITH SINTER  40 %):

1) RAW MATERIAL COST: WORK COST=12,194:13,389=1:1.1

2) IRON ORE COST: WORK COST=2,629: 13,389=1:5

3) COKE COST: WORK COST=8,250: 13,389=1:1.6

4) IRON ORE:COKE=2,629: 8,250=1:3.14

5) IRON ORE:COKE: FLUX=2,629: 8,250:280=9.4:29.5:1

6) FLUX COST: WORK COST=280: 13,389=1:48

7) IRON ORE COST: TOTAL RAW MATERIAL COST=2,629:12,194=1:4.6

8) COKE COST: TOTAL RAW MATERIAL COST=8,250: 12,194=1:1.5

9) FLUX COST: TOTAL RAW MATERIAL COST=280: 12,194=1:44

10) LIMESTONE: DOLOMITE: QUARTZ=110:150:20=5.5:7.5:1

11) LABOUR COST: WORK COST=350:13,389=1:38

12) DIRECT LABOUR: INDIRECT LABOUR=150:200=3:4

13) UTILITY COST: WORK COST=535: 13,389=1:25

14) POWER: WATER=525:10=52.5:1

15) OVERHEAD: WORK COST=150: 13,389=1:89

16) STORES & CONSUMABLES: WORK COST=300: 13,389=1:45

17) PRIME COST (MATERIAL+DIR. LABOUR):WORK COST=(12,194+150): 13,389=12,344:

13,389=1:1.08

18) PBDIT: WORK COST= 4,861: 13,389=1:2.75

Financial ratio analysis groups the rations into categories that tell us about the different facets

Of a companies financial state of affairs .Some of the categories of ratios described below :

1)    Liquidity Ratios : Give a picture of companies short term financial situation or solvency.

2)    Turnover Ratios : show how efficient a companies operations and how well it is using its assets.

3)    Profitability ratios :  show the quantum of debt of companies capital structure.

Liquidity Ratios :  1) Current Ratio  2) liquid ratio 3)  Net working capital ratio.

1)    Current Raio = CURRENT ASSESTS/CURRENT LIABILITIES

An Ideal solvency ratio is 2. The ratio of 2 is considered as a safe margin of Solvency due to the fact that if current assests are reduced to half  i.e. 1 instead of 2, then also the creditors will be able to get their payments in full.

2)     Liquid Ratio :  Quick Ratio= Total Quick Assest/Total current liabilities

Quick Assets = Total current Assest- Inventory.

The liquid ratio denotes the concern had achieved more than the ideal ratio of 1:1.

3)    NET WORKING  CAPITAL RATIO :

NET WORKING CAPITAL /CAPITAL EMPLOYED.

Net working capital measures the firm’s potential reserve of funds. It can be related to NET ASSETS. This ratio represents the availability of working capital in realtion with Capital employed.

4)    TURNOVER RATIO :   i)  Fixed Assets turnover ratio  ii) Working capital turnover ratio

iii) Debtors Turnover Ratio iv)  Stock Turnover ratio.

i)                   Fixed Assets Turnover ratio : Net Sales/Net Fixed Assets

Higher the ratio is the better. A high ratio Indicates your business has less money tied up in fixed assets for each dollar of sales revenue.

ii)                Working capital turnover ratio : NET SALES /NET WORKING CAPITAL:

iii)               Debtors Turnover ratio :  a) Debtors turnover ratio  b) Debt collection Period

DTR = CREDIT SALES/AVERAGE ACCOUNTS RECEIVABLE

Average accounts receivable = Opening balance of debtors+ Closing balance of debtors/2

In SAIL, There has been increase in the DTR, which shows the efficiency of collection deptt.

iv)                Stock Turnover Ratio =  Net Sales/Average Inventory

Average  Inventory= Opening stock of Inventory + Closing Stock  of Inventory/2

Profitability Ratio :   1) Return on Investment 2) Return on Shareholder’s funds.

4)    Return on total assets  4) Earning per share (EPS)  5) Net Profit Ratio  6) Operating ratio

1)    Payout ratio  7) Dividend yield ratio

Return on Investment =  Operating Profit/Capital EmployedX100

The term operating profit means “Profit before interest & Tax” and Capital employed means sumtotal of long terms funds employed in the business.

i.e. Share capital + Reserves & surplus + long term loans-(non business assets + fictitious assets)

Return on Shareholder’s funds :  Net profit after Interest and Tax/Shareholder’s fund X100

Return on Total Assets = Net Profit after TAX/Total Assets X100

Earning per Equity Share = Net Profit after tax/No. of Equity sharesX100

NET PROFIT RATIO =  Net Operating Profit/Net Sales X100

Operating Ratio = Operating Cost /Net SalesX100

Direct Material Cost to sales = Direct Materials/Net Sales X100

PAY OUT RATIO =  Dividend per Equity Share/Earning per Equity Share X100

DIVIDEND YIELD RATIO =    Divident per share/Market price per share X100

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Nestle: Nestle is a market leader and a Multinational Company in Food and Beverage

Segment. The Vision Statement is “To be a leading, competitive, Nutrition, Health and

Wellness Company delivering improved shareholder value by being a preferred

corporate citizen, preferred employer, and preferred supplier selling preferred

products”. Though foodand drink is a basis necessity for human life, 21st century has

witnessed many changes in theway we consume and treat food. To cater to these

changes it is of prime importance for Nestleto remain innovative not only in terms of

product offering but also a strong management that is creative and innovative in

nature.

Samsung: Samsung started as a trading company and diversified into multiple

businesses likeElectronics, Construction, and Insurances etc. Samsung Electronics is

the largest informationtechnology company as per 2012 revenue. The Mission

Statement focused on building itsbrand and become a creative leader in new market.

Samsung has witnessed a very largenumber of innovations in last decade and was able

to remain the leader mainly due to its focuson innovation.

Apple: Apple is into the business of designing, developing and selling consumer electronics.Apple is world’s largest technology company by total asset. Apples products have created anew dimension in terms of how the personal computer or a mobile phone has been used.Apple’s continuous strive for innovation has made Apple the most innovative company.

Innovative management practice is the only way an organisation can be or remain creativeand innovative. The culture of innovation is driven by the organisation system and peoplewho are part of it. So it is very important for any organisation to have a creative andinnovative management. Apple’s creative and innovative management has transformed, in itsdomain of Technology Company, for a pc manufacturer to a brand of desire. Hence Apple isthe benchmark for creative and innovative management process

1.1. Evaluate current creative and innovative management processes in an organization

Apple being the most innovative company has an innovative management in place.

a) Apple as a technology company is managed and run by technologist and engineers. It

is difficult to maintain a similar culture when the company grows due to growth in

organisation size and structure. Aligning the mind set of all people working in the

organisation need a different approach for grown up companies. Apple’s management

wanted to maintain the culture of people taking initiatives and ownership was the

only way it could survive the cut throat market competition in technology domain.

The only to make people taking initiative and ownership is giving them a sense of

leadership. To effectively manage such a big organisation, the organisation itself is

divided into small project teams and are managed by engineers, This strongly ensures

that that the project manager understand the technology and would be able to guide

his/her team when ever required.

b) Hi-tech product also can have defects. A great organisation’s culture lies in finding

the defect rather than hiding and solving it. There should not be any restriction on

anybody to find defects and mistakes in a product. People at Apple use the Apple

product and during the usage they come across defects and also come with innovative

improvement plans. Employees at Apple are free to suggest and fix any problem.

Also there is freedom in Apple to implement the suggested corrective or

improvisation measure by anybody in a short span of time. Apple has made sure that

the approval process time for such projects to be less and have maintained a nun-

bureaucratic way unlike conventional bureaucratic organisation where it may take

month to get approval for improvement projects

c) Companies who are playing in technological domain are of tendency to compete and

either try to benchmark the competitor or trying to make something better then the

competitor. Unlike any other company, Apple’s main focus is on improving its own

product rather than comparing with competitors’ product.

d) Apple has another very interesting way to remain innovative, As it is widely known

that innovation are easy if we let the people think in a different and dedicated way.

That is the reason a small companies and start up companies have more innovation

then a already grown up company. Apple has maintained its “Start up “culture despite

of its size. This helps align entrepreneurial mind set of employee and make them

owner of their respective process.

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Accounting Questions Mahesh

page nos mahesh

In the past few years, the market of mobile phones and mobile accessories has seen a sudden surge in terms of both popularity in the market and the variety, thereby contributing heavily to the growth aspect of the mobile phones. The leas and bound that the mobile market has taken in the last few years especially in the developing nations such as India has been a very direct source of employment thus income to the national economies thereby resulting in great employment opportunities, revenues and the increased GDP of the nation (Chowdhury et al, 2010). The contribution of the mobile business in contributing to the GDP of India has been quite noticeable and there are many global companies which have made huge prediction regarding the same as well. According to McKinsey, in the next ten years in India, 350-550 million people are expected to be connected via the mobile internet technology thereby resulting in a contribution of $550 billion to $1 trillion to the GDP (Hindu Business Line, 2015). In other words, he staggering figures are close to account for almost 20 to 30 % hike in the GDP figures and close to 3-6 times the contribution to the GDP in the present scenario (Hindu Business Line, 2015). Though the above mentioned figures and predictions seemed to usher the Indian economy in to a mode wherein there lies a bright future for the mobile technology and the Indian economy, none of this can be true if the aspect of Indian consumer behaviour was not taken into account.

In the last couple of decades, there has been an increase in the aspect of the effect of various factors on the consumer behavior in India in order to study the phenomenon. India is a land of many states and each of these states has its own culture. This land of multiple cultures thus tends to influence the aspect of consumer behavior in a variety of ways. The fact of the matter here is that different cultures have influenced people in ways which this research paper will investigate. The market is full of a variety of options when it comes to mobile phones.  The mobile phones that are available in the market and are also the preferred choice in terms of mass demand is of the ‘smart phone’ variety than the old model which are not ‘smart’ and getting obscure by the day (Mooij  and Hofstede, 2011).

 History of Smartphones

There was a time when mobile phones were considered to be a luxury rather than being a necessity. However, in the last few decades the scenario has turn a complete turnaround. Today the use of smart phones is predictably so enormous that the sales of non smart phones are limited. Smart phones have been instrumental in joining people from different parts of the world. There is an immense use of smart phones when it comes to being connected via the internet (Tossel et al., 2012). In this modern age of the internet, being connected  has become all the more  important as there are many online social applications  networking platforms which are used by people to stay connected despite the huge geographical differences. Apart from staying connected there are a variety of other uses such as that of health care benefits that can be reaped by people  when they have a smart phone (Boulos et al., 2011). In short, what started as a luxurious items has slowly but surely transformed the face of the telecommunication sector in India.  It has acquired nothing less than a cult status in the market. People tend to vie with each other in order to be a proud owner of the most smartest cell phones available at that point in time.

 Overview of Indian Market

Of all the world economies that are growing at a fast pace, there is no doubt that Indian economy tend to be a part of that list.  The fact that the country’s economy is a part of that list is a testimonial to the fact that development is the keyword in the region. No development in the current scenario can be complete without the telecommunication industry and the kind of contribution it has made toward the country’s economy.  The usage of mobile phones has increased in the past few years and is set to be even more in the years few years as well (Financial Express, 2013).  The Indian market has been an open arena for a variety of mobile phone companies which tend to be eager to launch their products in the Indian market. Owing to this trend, the Indian market has undergone a great change and has become more competitive. It is this competition amongst the various players in the Indian market which makes the base for the research all the more interesting. With so many competitors around, it is indeed interesting to know the extent of the impact of the various parameters which define Indian consumer behaviour when it comes to smart phones.  The research study includes all the probable factors within reason which may contribute to effect Indian consumers when it comes to  buying smart phones in the Indian context.

Indian Smartphone market is predicted to grow because the 3G network coverage is increasing and there is increase in demand of high in smartphones in 2014. Smartphone manufacturer square measure targeting building application stores and rising service quality to offer a gorgeous worth proposition and strengthen their market position. The Indian market was dominated by Nokia phones (3Q2013, 2013). Different brands like Motorola, Samsung, Sony and LG didn’t vie with Nokia phones as Nokia phones square measure easier to use as compared to the cell phones of different firms. Now, Samsung is that the main player in Indian Smartphone market with 1/3rd of Indian market share. Indian brands like Micromax and Karbonn square measure at the second and third position in market share with twenty first and 100% world firms like Sony, Nokia and Apple square measure hierarchical  fourth, fifth and sixth (3Q2013, 2013).

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