Csr Reporting Implications For Barclays Banks...

6F6Z3007: Assignment 2: CSR reporting Implications for Barclays Banks Environmental Sustainability Introduction ‘Corporate social responsibility (CSR), broadly defined as the notion that companies should accompany the pursuit of profit with good citizenship within a wider society, has become an increasingly prominent feature of business life over the last 10 to 15 years’ (Sadler and Lloyd, 2009:613). This quote from Sadler and Lloyd is a useful starting point in demonstrating the rapid rise and development of corporate responsibility. Global issues, in an economic sense with the global financial crisis in 2008 and in an environmental sense with the threat of climate change have aided in bringing to the fore a need for businesses and the corporate world to manage themselves and the services they offer in a more responsible and sustainable way. In particular reference to the financial sector this has attempted to be achieved through global financial sustainability agreements such as the Equator Principles. By entering into global agreements careful monitoring and reporting of a ban ks activities is required to create transparency in assessing their contributions towards corporate social responsibility and the achievement of sustainable practices in the financial sector. One of the banks currently signed up to the Equator principles is Barclays, as one of the largest global banks in the world with a 300 year history it is a company that serves 48 million customers worldwideShow MoreRelatedExploring Corporate Strategy - Case164366 Words   |  658 Pagesimpressive international growth of an Irish company driven from a ‘lean’ corporate centre. Numico – difficulties with diversification for a Dutch nutritional products company. AIB – competing in the global banking industry: the challenges for a mid-size bank. SABMiller – an African brewer takes on the world: learning to thrive in difficult circumstances. MacPac – from a New Zealand start-up to internationalisation in the outdoor equipment industry. Key: ââ€" Ã¢â€"  = major focus ââ€"  = important subsidiary focus Read MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesOrganizations 20 †¢ Helping Employees Balance Work–Life Conflicts 21 †¢ Creating a Positive Work Environment 22 †¢ Improving Ethical Behavior 22 Coming Attractions: Developing an OB Model 23 An Overview 23 †¢ Inputs 24 †¢ Processes 25 †¢ Outcomes 25 Summary and Implications for Managers 30 S A L Self-Assessment Library How Much Do I Know About Organizational Behavior? 4 Myth or Science? â€Å"Most Acts of Workplace Bullying Are Men Attacking Women† 12 An Ethical Choice Can You Learn from Failure? 24 glOBalization

Benefits Of Airplanes And Society Essay - 1396 Words

The Benefits of Airplanes to Society As technology has developed throughout the years, many forms of transportation have been invented and thoroughly advanced. The airplane is one of the inventions in transportation. The invention of the airplane is credited to Wilbur and Orville Wright, brothers from Dayton, Ohio. The Wright brothers were the first to successfully fly a sustained, controlled, powered, and manned airplane, which took place on December 17, 1903 (Crouch Jakab, 2003, p.131). Throughout World War I, the demand for airplanes grew; consequently, production and engineering rapidly improved (Crouch, 2003, p. 198). With the development of airplanes, airplanes went from a sport for the wealthy to a functional, efficient aircraft for carrying mail and passengers. Today, airplanes are used throughout the world for business and commercial purposes, as well as in the medical world (Woolford Warner, 2015, pp. 150-255). The invention of the airplane has been a benefit to society. Airplanes are a benefit to society b ecause they have increased businesses opportunities by a significant amount. The first sources of airplane business were through airmail. According to Dick and Patterson (2003), a quote from the first few pilots to send mail on September 9th, 1911 reads, â€Å"We believe this important event will become historical, and its development will lead to a revolution in the present modes of conveying communications between the peoples of the world.† This quoteShow MoreRelatedThe Invention Of The Airplane Essay1437 Words   |  6 Pagestransportation have been invented and thoroughly advanced. The airplane is one of the inventions in transportation. The invention of the airplane is credited to Wilbur and Orville Wright, brothers from Dayton, Ohio. The Wright brothers were the first to successfully fly a sustained, controlled, powered, and manned airplane, which took place on December 17, 1903 (Crouch Jakab, 2003, p.131). Throughout World War I, the demand for airplanes grew; co nsequently, production and engineering rapidly improvedRead MoreThe Airplane Has Changed The Course Of The Western World Forever888 Words   |  4 PagesJoshua Poirrier Mrs. Elliott English III 9 May 2017 The Airplane Effect Orville Wright once said, â€Å"The airplane stays up because it doesn’t have the time to fall.† The ingenuity of the Wright brothers’ airplane design has changed the course of the Western world forever. The invention of the aircraft positively affected American society by providing a quicker way of traveling, having an influence on warfare, and implementing a better economy in the United States. When the aeroplane was assembledRead MoreThe Importance Of Technology1088 Words   |  5 Pagesmillions of lives throughout the world. However, technology can also be used in evil ways such as fighting wars, which results in a massive loss of life. Three of these technologies or ways of modern thinking are the factory machines in the gilded age, airplanes and naval advancements in World War 1 and beyond, and the crazy modern thinking that lead to these machines. One reason that modernity encountered so many pitfalls throughout its existence is that people who have better technology think that theyRead MoreWhy Are Patents Important For Technology?1745 Words   |  7 Pages) Intellectual property Patent and Copyrights what is the difference. Patent and Copyrights for intellectual property are designed to provide lawful protection and allow people to be recognized for they invent or create. It also allows one to benefit financially though their inventions. What is a Copyright? Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture andRead MoreThe Invention Of Airplanes : The United States Of America And Great Britain1748 Words   |  7 PagesFor many people, it is hard to think of the current world without airplanes. This simple fact is what makes them so important to talk about in society. They might be overlooked sometimes, but they have added a lot to history and should not be taken for granted for what they achieve. To focus on a few countries, the United States of America and Great Britain, the invention of airplanes had some of its largest impact on them. Whether that be in terms of travel or warfare, these countries benefitedRead MoreThe Invention Of The Airplane1401 Words   |  6 Pagesrest. The invention of the airplane in 1903 by Wilbur and Orville Wright was only the beginning of something that would change the wo rld forever. The airplane is still used today to travel around the world at a much faster pace than a boat. While it has been used to mainly help people they are also used to hurt people. The army uses planes to drop bombs, shoot down planes and threats on the ground, and to survey an area. While these are just cases of military uses the airplane has also been used to doRead MoreHistory of Airmail1247 Words   |  5 Pagesas a means to deliver mail society has started to progress more efficiently, taking into account that correspondence through rapid means also meant that innovative thinking would be shared effectively. While homing pigeons and balloons were certainly effective means to deliver correspondence, it was not until the invention of the airplane that people realized that they were witnessing one of the most important breakthroughs in the history of communication and of society as a whole. A few peopleRead MoreAganist the Guangzhou-Shenzhen- Hong Kong Express Railway695 Words   |  3 Pagesthat the express rail link will provide huge benefits to the economy and society of Hong Kong. With 100,000 passengers flow projected by the government, XRL is said to bring various benefits to the city. (Hong Kong Government, 2009). The government claims that XRL can further enhance the exchange and cooperation between Mainland and Hong Kong economically and socially. As a result of such closer tie with Mainland, Hong Kong will enjoy an $87 billion benefit from time saved by passengers, more investmentRead MoreAssignment 11688 Words   |  7 Pagesminus the benefit of seeing the movie. 2. Alaa received a four-year scholarship to attend a university that covered tuition and fees, room and board, and books and supplies. As a result a. attending the university for four years is costless for Alaa. b. Alaa has no incentive to work hard while at the university. c. the cost of attending the university is the amount of money Alaa could have earned working for four years. d. the cost of attending the university is the sum of the benefits Alaa wouldRead MoreThe Pros And Disadvantages Of Artificial Intelligence1423 Words   |  6 Pagesis capable of carrying out human actions. Smart computer systems can and do help us al l; however society has always cautioned that making computers too intelligent can be to our disadvantage. Although, those who are against AI argue that it will harm society, because it can cause unemployment and AI becoming smarter than the human race. Artificial intelligence should keep growing, because it benefits us all in many ways in our daily lives and makes our lives a lot easier. Artificial intelligence

Blaise Pascal was born in Clermont France on June Essay Example For Students

Blaise Pascal was born in Clermont France on June Essay 19, 1623 to Etienne Pascal. His mother died when he was only 3. He was the third of four children and the only boy. He was described as a man of: small stature, poor health, loud spoken, somewhat overbearing, precious, stubbornly persevering, a perfectionist, highly pugnacious yet seeking to be humble and meek. Pascals father had somewhat unorthodox views on education, so he decided to teach his son himself. He forbade any mathematic teachings or material to be given to him and had any such texts removed from their house. Blaise became engulfed with curiosity due to this rule. He started to work with geometry on his own at the age of 12. He discovered that the sum of the three angles of a triangle is equivalent to two right angles. When his father discovered this he then allowed Blaise a copy of Euclid. At the age of 14 Blaise began accompanying his father to Mersennes meetings. Mersenne was a member of a religious order of Minims. His cell held many meetings for the likes of Gassendi, Roberval, Carcavi, Auzout, Mydorge, Mylon, Desargues and others. By the time he was 15 Blaise admired the work of Desargues greatly. At 16 Pascal presented a single piece of paper at a Mersennes meeting in June 1639. It held many of his geometry theorems, including his mystic hexagon. In December 1639 he and his family left Paris and moved to Rouen where his father Etienne was appointed tax collector for Upper Normandy. Soon after settling down in Rouen his Essay on Conic Sections was published in February of 1640. It was his first great work. Pascal also invented the first digital calculator to aid his father in his tax collecting duties. For three years he worked 1642 1545. Dubbed the Pascaline, it resembled a mechanical calculator of the 1940s. This almost assuredly makes Pascal second only to Shickard who manufactured the first in 1624. Pascal faced problems with the design of the calculator due to the design of French currency at the time. There were 12 deniers in a sol, and 20 sols in a livre. Therefore there were 240 deniers in a livre. Hence Pascal had to deal with more technical problems to work with this odd way of dividing by 240. Yet the currency system remained the same in France until 1799, but Britains similar system lasted until 1971. Production of the Pascaline began in 1642. It was recorded by Adamson that: By 1652 fifty prototypes had been produced, but few machines were sold, and manufacturing of Pascals arithmetical calculator ceased in that year. In 1646 Etienne Pascal injured his leg and had to recuperate in his house. Two young brothers from a religious movement outside of Rouen came to help take care of him. Pascal was affected deeply and became very religious. It was at this time that Pascal began many experiments on atmospheric pressure. By 1647 he proved to himself that a vacuum existed. Descartes visited Pascal September the 23rd for 2 days in which they argued about the vacuum which Descartes did not believe existed. Descartes wrote a rather cruel letter to Huygens after visiting the young Pascal. he believed has too much vacuum in his head. In August of 1648 Pascal deduced that, because the atmospheric pressure decreases with height, there must be a vacuum that exists above the atmosphere. Descartes wrote to Carcavi in June 1647 about Pascals experiment stating: It was I who two years ago advised him to do it, for although I have not performed it myself, I did not doubt of its success. In October of 1647 Pascal wrote New Experiments Concerning Vacuums which would lead to disputes with various scientists who didnt believe in vacuums. Etienne Pascal died in September of 1651, which hurt Blaise badly. .ue04a176e3b13bdd13f876076bad6ff3d , .ue04a176e3b13bdd13f876076bad6ff3d .postImageUrl , .ue04a176e3b13bdd13f876076bad6ff3d .centered-text-area { min-height: 80px; position: relative; } .ue04a176e3b13bdd13f876076bad6ff3d , .ue04a176e3b13bdd13f876076bad6ff3d:hover , .ue04a176e3b13bdd13f876076bad6ff3d:visited , .ue04a176e3b13bdd13f876076bad6ff3d:active { border:0!important; } .ue04a176e3b13bdd13f876076bad6ff3d .clearfix:after { content: ""; display: table; clear: both; } .ue04a176e3b13bdd13f876076bad6ff3d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue04a176e3b13bdd13f876076bad6ff3d:active , .ue04a176e3b13bdd13f876076bad6ff3d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue04a176e3b13bdd13f876076bad6ff3d .centered-text-area { width: 100%; position: relative ; } .ue04a176e3b13bdd13f876076bad6ff3d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue04a176e3b13bdd13f876076bad6ff3d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue04a176e3b13bdd13f876076bad6ff3d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue04a176e3b13bdd13f876076bad6ff3d:hover .ctaButton { background-color: #34495E!important; } .ue04a176e3b13bdd13f876076bad6ff3d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue04a176e3b13bdd13f876076bad6ff3d .ue04a176e3b13bdd13f876076bad6ff3d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue04a176e3b13bdd13f876076bad6ff3d:after { content: ""; display: block; clear: both; } READ: Martin Luther King Jr. and Malcolm X Essay He wrote to one his sisters giving a deep Christian meaning to death in general and also to his fathers death particularly. These ideas were to later form the basis of his philosophical work called Pensees. Then in May 1653 Pascal worked with mathematics and physics writing Treatise on the Equilibrium of Liquids which he explains his law of pressure called Pascals law of pressure. Adamson writes: This treatise is a complete outline of a system of hydrostatics, the first in the history of science, it embodies his most distinctive and important contribution to physical theory. He also worked on conic sections and he also produced some important theorems in projective geometry. In The Generation of Conic Sections (which he mostly finished by March 1648, but he worked on again in 1653-54) he considered conics generated by central projection of a circle. Though never completed, this was meant to be the first part of a treatise on conics. Although the work was lost Leibniz and Tschirnhuas made notes from it. Using those very notes a fairly complete portrayal of the work is now possible. Pascal was not the only one to study the Pascal triangle, but his work on the topic Treatise on the Arithmetical Triangle as the most important. With the work of Wallis, Pascals work on the binomial coefficients was to lead to the binomial theorem discovery by Newton for fractional and negative powers. Along with the help of Fermat they achieved the foundation for the theory of probability. This collective effort obtained five letters and occurred in the summer of 1654. They considered the dice problem, and the problem of points, both of which were considered by Cardan, Pacioli, and Tartaglia. The dice problem raised the question of how many times one must roll a pair of dice before one expects double sixes while the problem of points asks how to divide the stakes if a game of dice is incomplete. They solved the problem of points for a two-player game, but unfortunately were not able to develop powerful enough mechanical algorithms to solve it for three or more players. Pascal was poor in health during their correspondence. In July of 1654 Pascal wrote to Fermat, here is an excerpt: though I am still bedridden, I must tell you that yesterday evening I was given your letter. In spite of his health problems Pascal worked fervently on scientific and mathematical questions until October 1654. It was then that he nearly lost his life in a horse carriage accident. The horses that were pulling the carriage bolted and when the carriage halted he was left hanging over a bridge of the River of Seine. Though he was rescued he suffered severe mental disorders from the incident. Soon afterward Blaise underwent another religious experience and on November 23rd of 1654 he pledged his life to Christianity. It was then that Pascal made visits to the Jansenist monastery Port-Royal des Champs which was 30 km south west of Paris. He then began publishing anonymous works on religious topics, eighteen Provincial Letters during 1656 and 1657. These writings were written for the defense of his friend Antoine Arnauld who was an open opponent to the Jesuits and a fellow defender of Jansenism. At the time Arnauld was on trial before the faculty of theology in Paris for his controversial religious works. Pensees was Pascals most famous work, which was a collection of personal thoughts on human suffering and faith in God which he worked on from 1656 to 1658. Pensees contained Pascals Wager which claims to prove that belief in God is rational with the following argument: If God does exist, one will lose nothing by believing in him, while if he does exist, one will loses everything by not believing. With Pascals Wager he uses probabilistic and mathematical arguments coming to his main conclusion that we are all compelled to gamble His last work was on the curve traced by a point on a circumference of a rolling stone. This is defined as the cycloid. In 1658 Pascal began to think about mathematical problems again as he lay awake at night due to pain. .ucfb64d542ca9a5ed889888e37ce4e3fc , .ucfb64d542ca9a5ed889888e37ce4e3fc .postImageUrl , .ucfb64d542ca9a5ed889888e37ce4e3fc .centered-text-area { min-height: 80px; position: relative; } .ucfb64d542ca9a5ed889888e37ce4e3fc , .ucfb64d542ca9a5ed889888e37ce4e3fc:hover , .ucfb64d542ca9a5ed889888e37ce4e3fc:visited , .ucfb64d542ca9a5ed889888e37ce4e3fc:active { border:0!important; } .ucfb64d542ca9a5ed889888e37ce4e3fc .clearfix:after { content: ""; display: table; clear: both; } .ucfb64d542ca9a5ed889888e37ce4e3fc { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ucfb64d542ca9a5ed889888e37ce4e3fc:active , .ucfb64d542ca9a5ed889888e37ce4e3fc:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ucfb64d542ca9a5ed889888e37ce4e3fc .centered-text-area { width: 100%; position: relative ; } .ucfb64d542ca9a5ed889888e37ce4e3fc .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ucfb64d542ca9a5ed889888e37ce4e3fc .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ucfb64d542ca9a5ed889888e37ce4e3fc .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ucfb64d542ca9a5ed889888e37ce4e3fc:hover .ctaButton { background-color: #34495E!important; } .ucfb64d542ca9a5ed889888e37ce4e3fc .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ucfb64d542ca9a5ed889888e37ce4e3fc .ucfb64d542ca9a5ed889888e37ce4e3fc-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ucfb64d542ca9a5ed889888e37ce4e3fc:after { content: ""; display: block; clear: both; } READ: Parts of Library Essay He associated Cavalieris calculus of indivisibles to the problem of the area of any segment of a cycloid and center of gravity of any segment. He also solved the problem of volume and surface area of the solid of revolution formed by rotating x-axis of the cycloid. Pascal also issued a challenge offering two prizes for the solution to these problems. Wren, Laloubere, Leibniz, Huygens, Wallis, Fermat and other various mathematicians were issued the invitation. Wallis and Laloubere entered the competition officially. Lalouberes and Wallis solution were unsuccessful. Sluze, Ricci, Huygens, Wren and Fermat all conveyed their discoveries to Pascal, but didnt enter the competition. Wren had worked on Pascals challenge and decided to issue a challenge of his own. Wren challenged Pascal, Fermat, and Roberval to find the arc length and the length of the arch of the cycloid. Pascal published his own solutions to his own problems in the Letters to Carcavi. This seemed to be his last great interest in science. He spent his last years giving to the poor and attending church in Paris one service after another. He died at the age of 39 in intense pain after a malignant growth in his stomach spread to the brain.

Customer Satisfaction Service Quality and Behavioral †Free Samples

Question: Discuss about the Customer Satisfaction Service Quality and Behavioral. Answer: Introduction: Proper training and development is essential in nature and is required as this helps in providing proper guidance in the different areas of work and becoming expert in different field of the various departments as well. Presently, I am working with Novotel Norwest Hotel in Baulkham Hills within the Food Beverage department. Here, I am working as a trainee in the food and beverage department wherein I have learnt few things that are essential for my progress in the future and to be more successful in the coming years as well. The training and development received by me has helped me a lot in brushing up my skills as well as to understand the different issues that has to be properly handled by me while in crisis at workplace. Training is an essential process wherein it helps in providing the different employees in the workplace with proper knowledge as well as skills that is required to properly operate within the different systems as well as standards that is set up by the management of the Novotel Norwest Hotel in Baulkham Hills. Training and development is essential at the hotel as this will help in making different and proper usages of the different services that are required to be provided to the staffs in the hotel as to generate proper productivity in the organization. According to me, the training and development is essential to be provided by the workplace, as this helps us in gaining proper confidence when performing live on the different sectors in the different departments in hotels. In the modern business of the hotel, the main aim is the proper competence in the people as well as in the qualities of the employees in the hotel. The proper skills, knowledge as well as thoughts are essential in nature as this helped me in increasing the productivity of the hotel with my proper skills. I feel staff training is essential in different workplaces in order to properly develop the different skills and to be more united in the workplace as well. Proper work atmosphere is required to be provided by the hotel to the employees working with them as this will help them in forming proper as well as harmonious atmosphere to build proper team spirit among the different employees. Proper training has been provided to me by the higher officials of the respective hotel in the Food and Beverage department as it helped me in handling different kinds of conflicts in the workplace. Proper management tools have been used in the hotel and this has helped me in learning different growths in the business as well as understands to achieve the exponential growth in the technological improvements. I have learnt proper usage of advancement in technologies and this helped me in managing proper diversity in the workforce as well as changing the different skills as well (Izogo Ogba, 2015). Firstly, I have been provided with proper training relating to the legislative requirements of the hotel wherein the food safety has been taught to us while serving to the good to the customers. The health and safety of the individuals are essential and important as well along with proper licensing for alcohol when served in the hotels Secondly, the business needs are taught to us as these are essential in nature as well as this will enable the entire business to deliver proper customer promise now as well as in the future Thirdly, the job or department needs are essential as well as this helped me in understanding the specific job requirements in the food and beverage department. This has helped me in learning proper skills as well as abilities in managing the difficult situations at the hotel Fourthly, the training and development programme helped me in understanding the proper maintenance of quality is essential at the hotel as this helps them in attracting customers. Proper ascertainments has been made in order to make us learn about the different sectors such as helping me in generating proper service with teamwork as this will help in improvement of the work performances and generate positive results Fifthly, the human resource department of the respective hotel helped me in learning skills that helped me in understanding the gap between the ideal requirements and the performance of the hotel. This helped me in achieving greater success as well as effectiveness for the entire hotel Lastly, the individual needs are properly provided importance as this will help in doing the entire job in the food and beverage department effectively and efficiently in nature and this will help in development of my skills for performing well in the future (Pizam et al., 2016). Therefore, according to me proper training and development is essential in nature as this will help me presently as well in future to gain proper knowledge regarding the different sectors in the hotel and handling different issues as well. I have also learnt that human resource management is essential in nature and plays an important role in the business of hotel. The training and development programme provided by the hotel helped me in dealing with different with different kinds of individuals who are the customers of the workplace. The training has helped me in increasing the effectiveness in the work performed by me along with reducing the damages as well as wastages in the hotel as well. Proper training and development has also helped me in self development of the different skills that are performed by me in making me work more effectively in the different departments in the hotel and improving and upgrading my knowledge regarding the different aspects in the food and beverage department. The training and development helped me in developing the skills of the expanding the knowledge in different situations. I have achieved knowledge in different departments of the hotel department as this will improve the needs of the situation that is required and it helped me in understanding the cooperation with the entire management of the hotel. The different areas that need further development in order to improve my performance to a graduate level are as follows: Proper performance is essential in the workplace as this will help me in prioritizing the things properly and gaining proper competitive advantage as well. I have to position myself in a better way and improve my different set of skills that are required in the respective hotel as well. As per me, there are different ways through which I can improve my performance to graduate level. I need to properly organize as well as prioritize the different activities that have to be performed by me on a daily basis. I have to properly keep a track of the different activities that are performed by me and properly ensure that the task that will be performed by me is manageable in nature and this will help me in adding value to my own work that is performed. The tasks have to be properly performed by me in the hotel as this will help me in benefiting my hotel in future as well. I have to properly manage the different interruptions in the workplace from the higher authorities or the other level of employees in the hotel. The interruptions can be managed by me by properly arranging index cards and jot down the different points that has to be properly sorted out by me. These points will help me in analyzing the different tasks that has to be performed by me in the next day or during the entire week Proper milestones have to be set by me as this will help me in completing the tasks within the deadline. This will help me in breaking different large projects into small tasks and this will help in setting proper metrics for success. This will help me in boosting my own morale and performing the different tasks and this will boost my morale as well. I have to properly enhance my skills by properly following my instructions of the mentor as this will help in providing self confidence in me and facilitate my professional growth as well. I have to follow the different steps that is required in the future for making my skills to be stronger and innovative in nature as well I have to claim for proper clarity as this will help in providing proper confidence in the activities that I have to perform in the food and beverage department. I have to properly jot down different points that I have to analyze in regards with different issues that I am facing while working in the specific departments. I have to properly set the goals that I have to achieve the future as this will help me in fulfilling the objectives of the hotel where I am working presently. Proper communication skills are necessary in nature as this will help me in understanding the different requirements and listening to the instructions that are provided by the team leads or the heads of the departments. The communication skills will help me in achieving proper success and generate proper and accurate performance in the hotel as well. I have to properly identify the different blind spots of myself as this will help in making me aware of the different areas wherein I lack knowledge and proper training will help me in improving my entire performance. I need to honestly follow the steps in identifying the blind spots in myself by taking different opinions from other in the hotel and understanding the different weaknesses regarding the behavior. This will help me in making proper adjustments and help me in improving the performance as well I have to sharply observe my competition in the hotel as this will help in providing strength in performing well in different kinds of tasks that are performed by the others in the hotel. The proper learning can be achieved by me from the other competitors and trying to understand the different techniques that are used by them to achieve proper and best performance in the hotel. I need to constantly ask different kind of questions to myself as this will help me in determining the different ideas on to work more efficiently in the hotel. I have to brainstorm myself with different ideas as well as questions as to perform better in the hotel in the food and beverage department as well. I have to properly read one article each day as this will help me in gaining and developing proper knowledge regarding the different articles related to my filed. This will help me in determining the different issues that are faced by me and solving such issues with proper implementation of the strategy related to the reading of the article everyday will help me in improving my performance I have to practice proper humility wherein I need to avoid self promotion as this will help me in holding high respect in front of my team mates in the organization. Proper humility will help me in gaining respect and gaining proper skill set for contribution towards success as well Therefore, I can conclude that proper performance can be generated with proper implementation of different strategies that has to be performed by me in the workplace. The strategies related to acknowledging others along with providing me proper time as this will help in gaining proper confidence and generating competitive advantage to me as well in front of the competitors as well. The performance can be improved in the future with generating passion in me, as this will help me in gaining proper confidence towards working for a specific task. I need to identify the different blind spots in me, as this will help me in understanding the weak areas that has to be properly solved by me and make it my strength as well in the future. The proper interests regarding the different sectors in the hospitality management will help me in gaining more knowledge as well as confidence in different fields in the food and beverage department in the respective hotel as well (Paparoidamis, Chumpitaz Ford, 2015). Identification of the skills, experience and attributes that are required for the role of food and beverage manager are as follows: According to me, a food and beverage manager has to possess certain operational skills as well as qualities that are mandatory in nature. A proper and appropriate bachelors degree is essential in nature as this helps in adding value to their resume. Proper and intense training programs are conducted that includes both classroom training along with experience from real kitchen as well. Proper certification is provided at the end of the training program as well but it is not required always in the course of the training of the food and beverage manager (Chen et al., 2015). There are other requirements as well for the food and beverage department manager in the hotel that includes proper experience in the beverage management domain as this will help in completing the tasks more successfully as well as easily in the future. The manager is required to have proper knowledge about the different computer software programs that includes MS Office, POS as well as the software related to the hotel management (Nestle, 2013). The other requirements of the food and beverage department manager is to solve the different issues and conflicts effectively within a specific time frame and the proper ability is required to spot the problems as well (Prentice, 2013). The manager of the food and beverage department needs to analyze the different kinds of task with proper mastery in delegating different kind of task as well. The leadership as well as communication skills are necessary in nature to be persuaded by the food and beverage manager in the hotel as this will help him in communicating properly about the issues that is troubling the sales of the company and solving such issues with proper implementation of different strategies as well (Sun Milne, 2016). The other requirement of the food and beverage manager is to generate proper knowledge and up to date knowledge about the different trends that are famous in the food and beverages and the best practices has to be adopted by the hotel as well. The other duty of the food and beverage manager is the ability to manage as well as meet the different financial as well as personnel targets in the hotel (Jeong, Cha Jang, 2016). It is the duty of the food and beverage department manager to be friendly in nature as this will help in generating proper customer base in the hotel. The nature of the food and beverage manager has to be guest oriented in nature as well as service minded as these are the qualities that are required in the hotel industry for performing well and gaining proper competitive advantage as well. The food and beverage manager requires having diploma in the food service management studies as this is mandatory to be the food and beverage manager in a reputed hotel. The food and beverage department manager has to properly identify the different roles and responsibilities that have to be performed by them as these are mandatory in nature in order to gain proper competitive advantage in the hotel industry. There are different skills that are required to be possessed by the food and beverage manager of a hotel that are described as follows: Proper customer service is the essential duty of the food and beverage manager as this helps them in interacting with the different customers who are visiting the hotel. The main duty of the food and beverage department manager is to be friendly with the customers who are visiting their restaurants and this will help them in understanding the tastes and preferences of the customers as well (N. Torres Kline, 2013). The food and beverage manager has to properly keep an eye on the different details of the food and safety, hygiene as well as the standards of the food as well The food and beverage manager has to be the leader in the back of the house as this will help the manager in handling the entire team members resolving different conflicts as well as making the employees do the job and getting the jobs done at the right time as well. The food and beverage manager will not only take care of the food and safety department, but the duty of the manager is to deal with the costs as well as well as creating proper schedules for work as well as pricing The food and beverage manager has to keep proper schedules for work for the team members along with proper schedules for cleaning and shipments and other works has to be properly organized by the manager as these are the crucial parts in the job The manager of the food and beverage department has to properly handle all the grievances of the customers as well as the team members of the hotel as this will help him in making the team work smoothly and understand the different requirements of the customers as well. The manager has to deal with the different conflicts of the employees in the organization along with checking the stock of the orders that are made by the team members of the specific department. Proper checking is essential in nature by the food and beverage department as this will help in carrying the tasks without much difficulty. The manager of the food and beverage department needs to have proper speaking skills as this will help them in communicating properly with the customers of the hotel as well as understanding the requirements of the customers clearly. The food and beverage manager has to speak clearly and properly as this will help the manager in making the employees of the hotel understand the different requirements and take the orders smoothly from the customers clearly as well. Proper stamina is required and it is essential in nature for the food and beverage department manager. This will help the manager in completing the different tasks successfully. The manager of the food and beverage department has to stand in the hot and furnace cooking areas on their feet and this will help them in proving themselves strong to perform the different duties smoothly. The manager of the food and beverage department has to manage all the FB as well as day to day activities within the budgeted guidelines and maintain proper standards of the food as well The manager of the food and beverage department in the hotel has to preserve proper external and internal service to the different customers who are the regular customers as well as the new customers of the respective hotel (Shi, Prentice He, 2014) The food and beverage manager has to properly identify the different needs and requirements of the customers and respond proactively to the different concerns of the individual customers as well The manager of the food and beverage department has too design proper and exceptional menus, purchase proper amount of goods and their main job is to continuously make different improvements that are necessary in nature for the future of the hotel The other duty of the food and beverage manager in the hotel is to lead the team of the entire food and beverage by properly recruiting, attracting along with training and appraising the talented personnel (Papanikolaou Zygiaris, 2014) The other duty of the manager is to establish targets, schedules, policies, KPIs as well as the procedures for the employees in the hotel as this will help in improving the performance of their respective tasks performed by them The communication is essential in nature for the food and beverage manager in the hotel as this is the duty of the manager to provide two way communication as well as nurture the environment of ownership that will emphasize on teamwork as well as motivation of the employees This is the duty of the food and beverage manager to comply with the different health and safety regulations in the hotel as this will help them in maintaining proper competitive advantage in the near future (Dedeo?lu Demirer, 2015) The food and beverage manager has to report to the management or the higher authorities regarding the sales result as well as the productivity of the organization that has been achieved by the employees of the entire organization (Ali Amin, 2014) Therefore, these are the different roles and responsibilities relating to the operations department are necessary along with the skills that are required to be possessed by the food and beverage department manager in the hotel industry as these are the few basic qualifications that are required to survive in the hotel industry (Yen, Yeh Lin, 2016). The skills of the food and beverage department manager has to properly analyzed as these are few basic requirements that are required to improve the customer base along with increasing the percentage of sales in the company a well. Lastly, the food and beverage manager in the restaurant has to keep a proper track of the different elements that are required and mandatory in the food and beverage department to accomplish the goals undertaken by them. In order to properly perform in the organization, it is essential to properly create an action plan as this will help me in analyzing the different issues that are faced by me. I have to properly analyze the blind spots that have to be properly checked by me as this will help me in performing well in the organization as this will help me in achieving organizational objectives as well as goals. I need to analyze the vision properly that is set up by me and I have to achieve the objective as well as this will help me in achieving the different objectives in the entire organization. Proper engagement building is necessary as well as this will help me in making proper decisions regarding the different requirements that are needed for completing and achieving the vision in the near future as well. The proper career plan that will help me in achieving the objectives of the career as well as the aspirations is prepared as follows: Proper setting of the vision is essential in nature as this will help me in understanding the requirements of the role that I want to perform in the future. I have to properly analyze the different requirements that are required in order to achieve such objectives in the future Identifying the different choices that will be ascertained by me in order to achieve my vision. I have to understand and analyze the different choices that will help me in understanding the perfect choice that will be suitable for me and my career. I have to properly identify the worth to achieve the vision set up by me as this will help me in achieving such objectives in the future with proper implementation of the different strategies I have to identify the different support and help that will be required by me in order to achieve the vision that has been set up by me to be achieved in the near future Assess the skills that is required in the achieving the vision by me in the future by ascertaining the different skills I am possessing in the present and the requirement of the skills that are required in the future to achieve such vision with proper accuracy Assessing the knowledge as this will help me in achieving the vision in the future by assessing the knowledge of the different departments such as marketing or finance in the food and beverage department. Assessing the personal qualities that are required in the achievement of the vision in the future as this will help me in understanding the different SMART goals that stands for specific, measurable, action oriented, realistic as well as time sensitive goals. These will help me in achieving the vision properly as well Proper implementation of the SMART goals is required by me as this will help me in executing the different micro goals in the action plan to reach the different professional dreams. Proper re evaluation of the action plan is required and is necessary in nature as this will help me in understanding the criteria for the success for the achievement of the vision in the future Lastly, the proper gratitude has to be shown by me as this will help me in analyzing the different list of things about the career and this will help me in achieving the desirable vision and this will help me in understanding the action plan that will help me in achieving the vision in the future as well with proper implementation of different strategies Implementation of the different action plan to meet current employability and recruitment trends within the hospitality/tourism and events industry are as follows: I have to properly analyze the vision that I have to achieve as this will help me in achieving the goals I have to properly implement the different action plan as this will help me in improving the current employability and solve the issues with proper implementation of the different strategies I have to properly analyze the different trends of the recruitment in the organization as this will help me in preparing myself in such a way that this will help me in achieving the goals within a specified amount of time I have to properly allocate the work as per the requirements as this will help me in understanding the areas that need proper improvement along with analysis as this will help me in achieving proper goals within proper time period I have to properly communicate with others in the workplace in the present as this will help me in meeting the expectations and this will help in setting larger aims in achieving the organizational goals I have to properly understand the different blind spots as this will help me in improving my performance in the future as well Proper engagement is required in the workplace as this will help me in analyzing the different goals that has to be achieved by me and I need to properly set my goals according to the proper requirement as well I have to take help from different colleagues in the workplace presently as this will help me in understanding the places I need proper improvement and sort such issues with proper implementation of the strategies I have to properly prepare different strategies as this will help me in achieving proper goals and this will enhance my productivity skills as well. Therefore, I can conclude that a proper action plan is required to be prepared by me as this will help me in achieving the vision that is set by me for the future. I need to analyze the different skills as well as other blind spots that have to be taken care by me in order to achieve the desired objective as this will help me in achieving the entire vision and goal within a stipulated time frame as well. References Ali, F., Amin, M. (2014). The influence of physical environment on emotions, customer satisfaction and behavioural intentions in Chinese resort hotel industry.Journal for Global Business Advancement,7(3), 249-266. Amin, M., Yahya, Z., Ismayatim, W. F. A., Nasharuddin, S. Z., Kassim, E. (2013). Service quality dimension and customer satisfaction: An empirical study in the Malaysian hotel industry.Services Marketing Quarterly,34(2), 115-125. Back, K. J., Lee, C. K. (2015). 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Company Valuation Report Goodman Fielder

Introduction In this report, we have tried to present a comprehensive evaluation of Goodman Fielder Company. By considering the market and financial environment in which Goodman fielder operates, we have employed the use of several helpful tools to evaluate Goodman Fielder. Here, historical data on share returns, market returns and financial statements will be used to approximate the value of Goodman Fielder shares.Advertising We will write a custom report sample on Company Valuation Report: Goodman Fielder specifically for you for only $16.05 $11/page Learn More The calculated values will then be compared with the actual values of shares at the market. The period of our interest runs from 1st January 2006 to 2nd February 2012. The Du Pont approach has been used to compute for equity returns. Later on, we used the CAPM model to estimate for the required rate of return. We then considered the DDM model, the cash flow model, the earnings ratio model and th e price book ratio (Tobin 1969). These approaches have been helpful in understanding various facets (including price value and competitiveness) of the share pricing for Goodman Fielder (a major indicator of a company’s performance) (Viney 2009). Often, we found it necessary to identify a number of actions that can be undertaken by the management of Goodman Fielder to better the prospects of their company. Background Information Goodman Fielder is a food processing and retail company with base operations in Australia (Kenneth 1982). Among the products that are produced and marketed by the Goodman Fielder Company include bread, mayonnaise, milk, pizzas, cooking oils and pies (Kenneth 1982). The company ranks top among the main producers and distributors of food within Australia and the rest of the pacific Islands (Keown 2002). In New Zealand, it (Goodman Fielder) is the largest supplier of flour ands commercial fat to manufacturing industries (Oliver 2009). Thus, apart from bei ng a major producer and distributor of grocery commodities, Goodman Fielder is also a supplier of edible fat and flour to commercial food companies (Ross Sergio 2005). Many Australians love Goodman Fielder products; thus, the company has a good market segment here (Keown 2002). Goodman Fielder company employs more than seven thousand people within Australia and the larger pacific Islands region (New Zealand, Papua Guinea, New Caledonia and Fiji) (Oliver 2009).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Market Segment As we have seen, Goodman Fielder has a large and wide market segment. Geographically, Goodman Fielder’s market segment cuts across Australia and the pacific Islands region (Collins Kothari 1989). Goodman Fielder produces a variety of products that target various segments in the consumer market (Kopcke 1982). Among the most important segments here include baking, dairy market, fats and oils, and flour (Collins Kothari 1989). All of the mentioned segments fall within two major categories (Cuthbertson Nitzsche 2008). The first category can be described as one that consists of processed items that are ready for consumption such as packaged milk, bread and pies (Oliver 2009). On the other hand, the second category consists of items that need further processing before they can be supplied to local markets (Kopcke 1982). Such items, which are usually supplied to commercial food companies, include bulk flour and edible oils. Goodman fielder has always been among the two major large scale suppliers of food products in Australia (Cuthbertson Nitzsche 2008). Likewise, the company is the main supplier of edible oil and flour to commercial companies in New Zealand (Oliver 2009). Financial History Although the financial performance of Goodman Fielder has averagely been good for a long time (Rayburn 1986) (where the company has been giving good returns on its equity), the same cannot be said about its performance in the past five years (where our analysis of the company will focus) (Ali et al. 1995). The past five years have not been good for Goodman Fielder Company (Cuthbertson Nitzsche 2008). During this period, its (Goodman Fielder) profits have been decreasing steadily (Collins Kothari 1989). The share prices of Goodman Fielder have likewise been on a downward spiral (Cuthbertson Nitzsche 2008). Below is a chart showing the performance of Goodman Fielder’s shares over the past six years (Reilly Brown 2012). As it can be seen above, the shares of Goodman Fielder have decreased by more than a half in within the past six years (Ali et al 1995). Some stock market analysts are even expecting Goodman Fielder shares to even fall further in the coming months. While Goodman Fielder products remain popular within its consumer market, the company has been performing dismally (Ali et al. 1995).Advertising We will write a custom report sample on Company Valuation Report: Goodman Fielder specifically for you for only $16.05 $11/page Learn More An evaluation of Goodman Fielder financial statements over the past six years reveals a steady decline in revenues (Ali et al. 1995). A number of factors have helped to contribute towards the dismal performance of Goodman Fielder (Easton 1989). First, the recent years of the global economic crisis created a difficult environment for Goodman Fielder Company (Jorgenson 1968). The sales of Goodman Fielder products decreased as the market adjusted to the economic crisis to seek for cheaper food products from other producers (Atrill et al. 2006). Besides, many micro-scale competitors have emerged; thus, eating into the market segment of Goodman Fielder (Jorgenson 1968). The exports of Goodman Fielder have also been affected by the relative strengthening of the Australian dollar in relation to export markets (Kenneth 1982). Moreover, new inve stments in bakery by the company (Goodman Fielder) have failed to improve on returns (Atrill et al. 2006). The ever increasing fuel prices on the global market have coupled with other factors (such as increases in wage bills) to contribute in increasing production and operation costs for Goodman Fielder (Atrill et al. 2006). Such a direction has eaten into Goodman Fielder revenues; thus, contributing to its dismal performance (Easton 1989). More importantly however, the management of Goodman Fielder have been slow in reacting to the ever dynamic business environment of their company; thus, leading to the poor fortunes of their company (Edwards Bell 1961). While a large number of customers in Australia and the greater pacific Island region love Goodman Fielder products, the company has failed to solidify its market segment here (Atrill et al 2006). The poor performance of Goodman Fielder shares in the stock market is an indication that share investors are losing their confidence in the ability in its managers (Kenneth 1982). Unlike a number of her counterparts that have successfully emerged from the recent economic crisis (After shrinking during the global economic crisis, the Australian economy has been recording some growths from 2008) to expand their profits, Goodman Fielder is even performing worse at the moment than during the economic crisis period (Ross Sergio 2005).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A number of objectives that have often been designed by Goodman fielder management to tackle the economic difficulties facing their company have so far failed to be fruitful (Atrill et al. 2006). The 2011 half year results indicate one of the poorest performing periods for Goodman Fielder in the past six years (The general performance of Goodman Fielder has generally been on a steady decline over the past five years) (Kenneth 1982). In the recent past, Goodman Fielder has at times been unable to pay dividends as a result of its decreasing cash inflows (Miller Modigliani). Obviously, there is an urgent need for Goodman Fielder to restructure and adapt to the current economic environment in its market (Koller et al. 2005). Such a direction can only be achieved by a creative, innovative, and a new management at Goodman Fielder (Edwards Bell 1961). As it will become clear in our analysis, the general performance of Goodman fielder has been way below her peer companies (Baker Powell 1 999). Even with the current progressive growth of the Australian economy (after a difficult economic crisis period), the performance of Goodman Fielder has failed to mirror the expanding Australian GDP (Expected to grow by about 0.8 percent this year) (Edwards Bell 1961). However, the outlook of Goodman and fielder cannot be concluded to be grim (Kopcke 1982). Let us not forget that there are millions of customers that love Goodman Fielder products (Fama French 2001). Much of Goodman Fielder’s future will however depend on the ability of its senior management to return the company where it was in the past decade (Miller Modigliani). With the expanding Australian economy, the possibilities of Goodman Fielder to expand its market share here are real (Baker Powell 1999). Moreover, the economies of pacific Island economies such as New Zealand, where Goodman Fielder has vast interest, have also continued to show a progressive growth; thus, presenting new opportunities for Good man Fielder to expand its markets in these areas too (Fama French 2001). However, as we had seen earlier, the onset of positive fortunes for Goodman Fielder is dependent on the ability of its management to deal with current difficulties and exploit existing opportunities in the market (Baker Powell 1999). Return on Equity Return on Equity is among the most important approaches that are usually utilised by investors to analyze a company’s profitability. Here, we will utilise the most recent returns (Half year returns for the period ending December 2011) data from Goodman Fielder Company to analyse its return on equity. Generally, a company that is able to produce high returns from its equities without accumulating large debts boasts of large cash flows (Baker Powell 1999). Thus, such companies can grow without new capital expenditures. Such an arrangement is useful for investors since they can withdraw funds from such a company and invest their withdrawals in other interest s (Fama French 2001). So as to understand important components on equity returns, we will employ the use of the Du Pont Model in analysing the equity returns of Goodman Fielder Company (for the period mentioned) (Beneda 2003). So as to give investors information on specific areas of interest, the Du Pont model has divided equity returns into three multiples: Net profit Margin, asset turnover, and Gearing Ratio (Kopcke 1982). Thus: Return on Equity = Net Profit margin*Asset Turnover* Gearing Table 1 below summarizes ROE’s for the past six years. Table 1: ROE YEAR Gearing ROE 2011 2.58 3.6 2010 2.78 2.8 2009 3.01 3.4 2008 2.9 4.3 2007 2.6 4.7 2006 2.2 5.6 An equity return of 3.6% is quite low (Fazzari et al. 1988). Such a rate is way below the acceptable average of about 12%. With such rates, investors will thus shy away from buying Goodman Fielder shares at the stock exchange; thus, a low demand for the company shares at the stock market (Beneda 2003). Such a direction explains why the stock prices of Goodman Fielder have been falling steadily at the stock market (Fazzari et al. 1988). In 2011, Goodman Fielder had a profit margin of 1.67 percent. Again, such a profit margin is quite low (Kopcke 1982). It therefore means that the company is making little profits from its revenues (Miller Modigliani). Besides, such a low profit margin is also an indication that there is currently a low possibility that the company’s (Goodman Fielder) management will affect profits to down spiral further (Beneda 2003). Since the profit margin is approaching one percentage point, a further decrease in profit margins is unlikely to result from the mismanagement of Goodman Fielder (Fazzari et al. 1988). It is therefore safer to invest in Goodman Fielder shares with a disregard of how the company’s management could lead to future decreases in profits (Lehn Makhija 1996). However, such a consideration cannot be used in isolation when identifyin g the potential of Goodman Fielder shares (Beneda 2003). During the half year period ending 31st December 2011, Goodman Fielder recorded an asset turnover of 83.5%. The asset turnover ratio is helpful in determining the capacity of a company in converting its assets to incomes (Black 1972). An efficiency of 83.5 % in converting assets to profits is quite acceptable (Fazzari et al. 1988). What however is of concern to investors is the low return on equity despite a leverage of 2.58 (Ohslen 1995). Such an arrangement means that Goodman fielder is relying on debts to generate its low return on equity at 3.6% (Fruhan 1981). Without debts, Goodman fielder would generate a return on equity of only 1.4%. Such an arrangement means that there is a low cash flow within Goodman Fielder; hence, explaining why the company has been facing difficulties in performance (Black 1972). Macro-Economic Factors The global economy is expected to expand slightly in the next few years after experiencing the recent economic crisis (Viney 2009). Here, developing economies like China will experience most growth. On the other hand, developed economies like Australia will experience a slight growth (the Australian economy is expected to grow by 2%). There is usually a strong relationship between economic growth and company growth. The growth prospects of Goodman Fielder Company in 2012 are thus positive. With a market in Indonesia and other Asia-Pacific economies (whose economies are expected to expand marginally), Goodman Fielder can expand her market further. At 2 to 3 percent, the expected rate of inflation in 2012 is within acceptable limits (Green et al. 1996). Australian customers will therefore have enough money to spend on Goodman Fielder products. With a leverage of 2.58, the financial performance of Goodman Fielder will heavily rely on interest rates. If interest rates increase, Goodman Fielder will spend more resources in financing her debt. On the other hand, a decrease in inter est rates will help to finance the expansion plans of Goodman Fielder. Indications at the moment predict a fall in interest rates to levels below 3%. Here, the prospects of companies with large borrowing, such as Goodman Fielder, will remain bright. Estimation of Goodman Fielder Shares CAPM Model The CAPM (Capital Pricing Model) model has for many years been a useful tool in calculating expected returns from shares (Lehn Makhija 1996). Although several economists have criticised the effectiveness of the CAPM model in analysing share returns, no alternative model has been developed to date (Black 1972). Generally, the CAPM model can be represented in the equation below: C= A+ ÃŽ ² (B-A) Where A is the risk free rate, B is the market return rate, ÃŽ ² is the coefficient of the premium rate, and C is the expected rate of return (Ohslen 1995). Our important responsibility lies in calculating beta for the capital pricing model (Black 1972). By observing the above equation, one can be ab le to see that it is an equation of a straight line; with a constant gradient and an intercept (Ohslen 1995). One can therefore be able to determine beta through the use of an appropriate graph that plots C against (B-A) (Fruhan 1981). Having obtained the historical share return indexes from dates 1st January 2006 to 2nd February, 2012, we calculated the monthly share return rates in an excel worksheet (Gozzi et al. 2006). Such rates were obtained by calculating percentage changes in the share returns of adjacent months, and then multiplying the result by 12 to obtain the annual rates of returns (Lehn Makhija 1996). Likewise, a similar procedure was employed to calculate the expected monthly returns of the share market from a dataset than contained monthly return values of shares (from dates 1st January 2006 to 2nd February 2012) (Bond Meghir 1994). The free market rates were obtained from the 20 year Federal Reserve rates (from the historical data of the United States treasury ra tes) (Gozzi et al. 2006). As we have been using in other data sets, our period of interest here is from 1st January 2006 to 2nd February, 2012. The frequency of the treasury rates that we used is monthly. The premium rate was then obtained by subtracting A from B (Lintner 1965). An appropriate graph was then drawn in excel where the rate of share returns was plotted against the premium rates (Lintner 1965). Our raw Beta is thus the coefficient of the premium rate, which (as shown below) was shown to be 0.9691. As it is usually suggested, our raw beta needs to be adjusted as below: 0.9691 (0.67) + 0.33 =0.979 Thus, we obtain an adjusted value of 0.979 as our new beta (Lintner 1965). In analysing the CAMP model, we used treasury rates from the Australian Reserve bank to proxy free market rates (Gozzi et al. 2006). Such a direction was informed by the stability of the treasury rates, and the very unlikely scenario of a default from the Australian government (Bond Meghir 1994). Many e conomists are confident in using the US treasury rates to represent free market rates (Liynat Zarwin 1990). Such rates are often approximated at 5 %( Liynat Zarwin 1990). However, it is useful to observe that in exceptional circumstances, treasury rates can decline (Liynat Zarwin 1990). Such a direction was observed during the recent economic crisis, and also during the early months of 2012. Here, treasury rates went even below 3% during some months. On the other hand, we employed the return value of the stock market to proxy the market return rate (Green et al. 1996). Since such a value is a representation of the average performance in market stocks, it may not represent a true picture of the market return rate (Green et al. 1996). Here, it would be useful to obtain the standard deviation on stock performance so as to understand whether the estimation that we have used is useful in representing market returns (Bond Meghir 1994). However, since such an approach would involve a c umbersome procedure of evaluating the performance of all listed companies in the share market, we simply used the total value of stock returns to calculate our assumed market return rate (Liynat Zarwin 1990). Considering the micro-economic factors that we have discussed above, we found it useful to split the financial performance of Goodman Fielder into four categories: Very strong GDP growth, strong GDP growth, flat growth, weak growth. The table below summarize our estimates. Table 2: Market Return for Different Conditions of Growth. GDP Market Return Estimate(%) Probability (%) Market Return (%) Very Strong ( 5%) 25 10 2.5 Strong (2-5%) 15 60 9 Flat (1-2%) 5 20 1 Weak (1%) -10 10 -1 Average 11.5 With an adjusted Beta, we calculated the current risk premium rate as follows. With a beta of 0.979, taking the current treasury rate (2.75% as obtained from the historical treasury rates), and assuming an average free market return of 5% (since most economist est imate that the premium rate varies from 3.5% to 6%, we take an average of 5%), the risk premium rate can be calculated as: A= 0.05+ 0.979 (0.05) = 9.9% The Dividend valuation Model can be represented as follows: Value= Expected Dividend/ (Return on equity-Growth rate) The table below summarizes returns for different conditions of economic growth. Table 3: Returns for different conditions of economic growth GDP Market Return (%) Risk Premium Required Rate Of Return Very Strong ( 5%) 2.5 -0.025 0.025525 Strong (2-5%) 9 0.04 0.08916 Flat (1-2%) 1 -0.04 0.01084 Weak (1%) -1 -0.06 -0.00874 Average (11.5) 11.5 0.065 0.113635 The discount rate is thus 9.9% and the last dividend payout was 2.5 cents per share (Liynat Zarwin 1990). We estimate a growth rate of 2%. As we had seen earlier during equity returns analysis, the ratio of profit margin was approaching 1%. Such a scenario implies that the management of Goodman Fielder will in future have a slight impact on future pro fit declines (Bond Meghir 1994). Since share prices have also declined to lowest levels, we can expect the share prices to stabilize and grow at a stabilized rate of 2% (Lone et al. 1996). We do not expect the shares to grow at a higher rate at the moment since the company (Goodman Fielder) will require a longer period of time to recover (Bowen et al. 1986). Table 4: DDM Approximations for Share Prices Year Growth Growth Rate Share 2012-2014 Slow Growth 0.02 0.639240506 2014-2016 High  Growth 0.08 2.736842105 2017 0NWARDS Stable  Growth 0.03 0.735507246 Thus, as shown in the table above, the current price for Goodman Fielder Shares is about 0.6392. This particular value is comparable with the market value that has been ranging from 80 cents to 40 cents in 2011. We can also calculate the implied growth rate by assuming that the stock prices for Goodman and Fielder are correctly valued (Lone et al. 1996). Here, with the greatly unstable Goodman Fielder stocks, the cha llenge would be in picking a historical value of the stock (Lone et al. 1996). We can select the sock value on 1st January, 2012 (Green et al. 1996). On this particular date, the stock was traded at 42.42 cents. Thus: 0.4242 = 0.025 (1+g/2)/ (0.099/2-g/2) Thus, implied growth rate is 0.019. Cash Flow Since Goodman Fielder does not always pay dividends, we can use cash flows per share (instead of dividends) to estimate its share value (Head 2008). The cash flow model is similar to the DDM model except that we use cash flows per share, instead of dividends, to calculate share returns. Based on our macro-economic assumptions, we think that Goodman Fielder will experience a slow growth followed by a stage of high growth, before settling at a steady growth. The table below presents approximations of the share price for the three stages above. Table 5  Price Earning Ratio and Price Book Value model Year Growth Growth Rate Share 2012-2014 Slow Growth 0.02 1.856865823 2014-2016 Slo w Growth 0.08 7.949978947 2017 0NWARDS Stable Growth 0.03 2.136501449 Price earnings ratio is useful in indicating the amount of money that investors are willing to spend for each dollar earned in the Goodman Fielder company. Dividing the formulae above by EPS (Earnings per share): Price earning ratio/EPS= Share market Price/EPS/ Earnings pet share According to the DDM: P = A (1+g)/(k-g). Dividing the formulae above by EPS: P/EPS = Payout Ratio (1+g)/(k-g). Thus, price earnings ratio is dependant on the following: the rate of growth, the required rate of return, and payout ratio. However, since the performance of Goodman Fielder has been very unstable, we will use the ratio multiplier to estimate the EPS of Goodman Fielder as shown below. Table 6: Approximated EPS Year 2011 2012 Market Price 0.639 Growth Rate 0.02 EPS 0.128 0.13056 Approx P/E Ratio 4.894301471 It is important to note that with the presence of many dynamics at Goodman fielder, the earning ratio has been changing constantly (Bowen et al. 1986). Price Book Ratio Likewise, Price book ratio = Equity market value/ Equity book value Price book ratio has been computed in the table below. Table 7: Price Book Ratio YEAR 2012-2014 2014-2012 2017 ONWARDS EBV 1754.4 1857.6 1771.6 EBVPS 0.8772 0.9288 0.8858 P/B 1.372253465 0.339369231 1.204338916 Discussion As we had seen, one of the main challenges that one is likely to face while evaluating a company like Goodman Fielder is the presence of many dynamics at play here (Head 2008). For example, data on stock returns for the past six years indicates a gradual dip in stock prices, which change on a continuous basis (Bowen et al. 1986). During our earlier analysis, we were able to observe a pattern of struggle and poor performance at Goodman Fielder (Chitou Ketz 1991). Generally, the overall trend of stock returns has been on a downward trend (Peasnell 1981). Although a number of catalytic activities have once in a while helpe d to stimulate the share prices to rise slightly, the general direction of the stock prices has been a dip (Head 2008). For example, on 6th January 2012, the stock prices for Goodman fielder rose by a third following a 10 percent acquisition of the company’s stake by Wilmer international limited (Ohlsen 1995). However, this particular rise of stocks was short-lived as share prices fell down again after some time (Bowen et al. 1986). Below is a graph showing an analysis of Goodman Fielder stocks in the past 18 months. As it can be seen, the performance has generally been poor. With such a trend, the Goodman Fielder shares have decreased their competitiveness in the stock market: hence, the observed dipping prices (Head 2008). The root mean square that was calculated by Excel’s regression was 0.19. As a result, about 19% of the risks that can be associated with Goodman Fielder are systematic (Peasnell 1981). Such Risks are related to trading activities at the stock mark et (Hitchner 2006). On the other hand, 81 percent of the risks that can be associated with Goodman Fielder are non systematic (Rappaport 1981). Such risks can be associated with the management of Goodman Fielder. From an analysis of the DDM model, we were able to obtain a stock price of 63.28 Cents (Chitou Ketz 1991). Such a value is comparable with the present value of the company’s stock at the share market (Hitchner 2006). However, it is still difficult to determine the accuracy of such a calculated value due to the volatile prices of the company’s share prices (leading to great variations in dividend payouts), which change constantly at the share market (Rappaport 1981). Still, the calculated value can hold for the period under which we evaluated the company (January 2006 to March 2012). On the other hand, our calculated value from cash flows was quite higher than the average share prices of Goodman Fielder (Chitou Ketz 1991). A possible explanation for such an a rrangement is the usual handling of large cash flows in companies that deal with perishables such as Goodman Fielder (Hitchner 2006). There is also a possibility of having taken wrong assumptions in our calculations, and, or errors in our computation (Jorgenson 1968). Due to a continual decrease in its share prices, the shares of Goodman Fielder could also be undervalued at the moment (Chitou Ketz 1991). In the last six years, the share prices of the (Goodman Fielder) company have decreased by over 50%. The management of Goodman fielder needs to develop innovative solutions that would steer their company back to the years of high profitability and high share capitalization (Rayburn 1986). Again, it is important to note that our understanding of the company from the models that have been evaluated above is limited (Scott 1992). Since such an evaluation is dependant on the usually speculative share market, we cannot depend on the company’s volatile share prices to arrive at ou r conclusions (Sainsbury 2010). Although many investors will use some of the methodologies that we have employed above to evaluate the potential of companies, their overall investments are usually based on speculation (Scott 1992). Still, since the performance of a company’s share price is proxy to the financial performance of a company, it can give us important information in evaluating a company (Sharpe 1964). The problem with shares like those of Goodman is that since they have been changing very gradually, it is difficult to associate specific share prices with the company’s performance (Sharpe 1964). The observed overall trend however has been a general decline in the price of the shares (Siegel 1985). Although the Dividends model approach has been useful in helping us to approximate a seemingly accurate value of Goodman fielder’s share price (based on comparison with other share prices), the cash flow system is a more accurate method of determining a compa ny’s share value (Sainsbury 2010). With a poor performance record that has recently streamed from the company (Goodman Fielder), the seemingly high price of shares that was approximated by the cash flow model indicates that the company is currently undervalued at the stock Market (Stewart 1991). In the direction of increasing its market share value, Goodman Fielder company needs to convince investors of its worth (Stiglz Weiss 1981). A robust and creative management will especially help in achieving such a goal (Stiglz Weiss 1981). Comment on Models We have used four different models to evaluate the financial performance of Goodman Fielder Company. These four models include the dividend valuation model, the cash flow model, the price earnings model and the price book value model. The value of Goodman Fielder share price that was approximated by the dividends ratio model is close to the stock performance of the company at the moment (Jorgenson 1968). t. Although the above mo del could have provided a useful approach in evaluating the share value of Goodman Fielder, a number of factors can compromise the accuracy of the DDM. As we have seen, the general performance of Goodman Fielder has been volatile, poor, and a bit unpredictable. It therefore means that the financial state of Goodman Fielder has been on a constant change (mostly in a negative direction). Dividend payouts from Goodman Fielder have reflected the unstable state of Goodman Fielder by changing constantly. Since we used the last dividend payouts to calculate the share price of Goodman Fielder (through the use of the DDM model), the price value that was calculated may not reflect the current state of Goodman Fielder. As it can be reflected in the 2011 half year a financial result, a lot has changed in Goodman Fielder since the last dividend payout. Moreover, with the current state of dismal performance, Goodman Fielder will likely avoid paying dividends payouts in the near future (as it has been doing lately); thus, presenting a difficulty in obtaining dividend values for feeding the DDM. Still, the main advantage that arises in the use of the DDM to calculate share values is the strong relationship that usually exists between share values and dividend payouts. However, for a company that has been moving in a difficult labyrinth like Goodman Fielder, it is not wise to use the DDM to calculate its share value (Collins Kothari 1989). For a company that is undergoing a crisis like Goodman fielder, the cash flow system is a more accurate method for determining the company’s share value (Sainsbury 2010). With a poor performance record that has recently streamed from the company (Goodman Fielder), it is wiser to rely on cash flows (rather than dividends) to calculate the share price of the company. Such a direction eliminates two major problems that were presented by the DDM; unsteady dividend payouts and lack of dividend payouts. As it is often the case, companies t hat are undergoing a crisis will prefer to reinvest resources than pay dividends (Stewart 1991). The cash flow model is therefore the best tool that can yield a more accurate and reliable value of a company’s share price than all the other approaches that we used. The share price of Goodman Fielder as per the cash flow model was much higher than the current share price of Goodman Fielder at the stock market (Ohlsen 1995). It is worth mentioning here that although the cash flow value was marginally higher than the stock value of Goodman fielder at the share market, the stock prices of Goodman Fielder have in recent years been performing better than the cash flow value. Here, the pointer of the cash flow value could be that the current share price of Goodman Fielder is undervalued. The calculated value of the earning ratio for Goodman Fielder is 9.2. This particular value is slightly different, but comparable with the 11 points value that has been approximated at the Bloomberg site. Our calculated price book value for Goodman Fielder Company is 1.33. Again, this particular value is different, but comparable to the 0.98 points value at the Bloomberg site. Although the price earnings ratio and the price book value are great in providing us with values that we can use to calculate share values for Goodman and fielder, they lack one important component in estimating share values-the future performance of Goodman and Fielder. Through the use of a growth rate, the DDM and cash flow models estimate the future performance of a company while estimating the current share value of a company. Conclusion During the past six years, the financial performance of Goodman Fielder has declined steadily. Such a direction has seen the company’s share value drop over the same period. While we obtained a yield from the dividends model that approximated the current value of shares at the stock market, the more accurate cash flows model yielded a value that was at least th rice the current share price. Since most stock investors like earning dividends, the stock market can thus value shares on the basis of dividend payouts (Strong Walker 1993). 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Strong, N. and Walker, M., 1993, â€Å"The Explanatory Power of Earnings for Stock Returns†, The Accounting Review, vol. 68, pp. 385-399 Tobin, J., 1969, â€Å"A General Equilibrium Approach to Monetary Theory†, Journal of Money Credit and Banking, vol.1, pp. 15-29 Viney, C., 2009, McGraths financial institutions, instruments and markets, McGraw-Hill Australia, Australia, pp 446-456 This report on Company Valuation Report: Goodman Fielder was written and submitted by user Shiloh Greene to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Rodhocetus Facts and Figures

Rodhocetus Facts and Figures Name: Rodhocetus (Greek for Rodho whale); pronounced ROD-hoe-SEE-tuss Habitat: Shores of central Asia Historical Epoch: Early Eocene (47 million years ago) Size and Weight: Up to 10 feet long and 1,000 pounds Diet: Fish and squids Distinguishing Characteristics: Narrow snout; long hind legs About Rodhocetus Evolve the dog-like whale ancestor Pakicetus a few million years, and youll wind up with something like Rodhocetus: a larger, more streamlined, four-legged mammal that spent most of its time in the water rather than on land (though its splay-footed posture demonstrates that Rodhocetus was capable of walking, or at least dragging itself along on solid ground, for short periods of time). As further evidence of the increasingly marine lifestyle enjoyed by the prehistoric whales of the early Eocene epoch, the hip bones of Rodhocetus werent fully fused to its backbone, which endowed it with improved flexibility when swimming. Although its not as well-known as relatives like Ambulocetus (the walking whale) and the above-mentioned Pakicetus, Rodhocetus is one of the best-attested, and best-understood, Eocene whales in the fossil record. Two species of this mammal, R. kasrani and R. balochistanensis, have been discovered in Pakistan, the same general locality as most other early fossil whales (for reasons that still remain mysterious). R. balochistanensis, discovered in 2001, is especially interesting; its fragmented remains include a braincase, a five-fingered hand and a four-toed foot, as well as leg bones that clearly couldnt support much weight, further evidence for this animals semi-marine existence.