Feminism Essay

Feminist ideas of freedom suggest that outside social forces that are repressive can corrupt an individual’s desires and limits their thinking abilities. Jean Grimshaw was a feminist philosopher who analyzed this concept. Grimshaw with other feminists believed that these repressive forces come from male domination in society. Questions about the self are important to feminists because they are constantly trying to figure out a woman’s autonomy. Feminist philosophers have come up with many approaches to the self. Jean Grimshaw goes back to an argument from Aristotle. Aristotle questions what makes people do things voluntarily and out of free will. Aristotle says that that actions that originate from inside the self are desires or intentions and actions that originate from outside are not. Jean Grimshaw however questions whether those desires that come from outside are not really one’s own desires. There is a constant conflict between internal and external constraints. Feminist authors such as Mary Daly, Marilyn Frye and Kate Millet wrote books on how women have been conditioned in their thinking by men, therefore cannot have their own desires. Feminists agree that women are deprived of their free will because men treat them as robots and this changes a woman’s personality. Based on the books of these three authors there is many things to conclude about the self. The self is aware of its interests, it is altered because of the interference of male domination and the only way to really have a true self is to fight against those social effects of domination. A woman must understand the changes they are going through by men in society in order to reveal the self. I believe that if someone is constantly thinking that there are outside forces that disable form being they they must change that. If the male society undermines women, and women continue to accept it then they are not following their own desires. One must understand the constraints that they are dealing with in order to make independent choices to be liberated.

Cinderella Story

Abdulaziz Alshehri 31 October 2012 Cinderella Story Cinderella is a wonderful Disney movie. The social injustice in Cinderella is how they treat her. The ugly stepsisters and the evil stepmother treat Cinderella like she is trash. They have no respect for her. In one scene they destroy a dress that she is wearing. Cinderella was enjoying a leisurely life with her parents. Likely, Cinderella is blessed with love and compassionate from her mother, also from her father. It was her parents who made the maximum effort for happiness. She was a beautiful little girl and highly intelligent.But the happiness turned into sadness when her mother fell ill, and the physicians were unable to help her mother. Then, she lived with her father, who was much loved and was hoping to help her. I this paper, I will be discussing the life of Cinderella and how it changed after her parents died. Cinderella’s Father was believed that she would be in better shape if he married a woman who had two daug hters. In the beginning, the stepmother treated Cinderella gently. After father died, stepmother impacted on Cinderella a harsh reality where she was treated like a maid.Stepmother was hateful and made Cinderella do chores without the help of her stepsisters. Cinderella was poor no and only had a few birds and mice that became her friends and also helped with household chores. The stepsisters prevailed a Cinderella and treated her poorly. Cinderella lived in the darkness of her stepmother and stepsisters. She was doing housework alone without any help (Cinderella story). In that time, Cinderella lived her life with her stepmother is injustice and oppression around them.Cinderella is dream was to live a long happy life. She dreamed to marry a rich man to care about her. One day, the King issued a decree making every girl a prospect for his son, the prince. The Prince would choose one lucky girl during the ceremony dance. Cinderella asked her stepmother and stepsisters to go with them to the ball. However, the stepmother requested that Cinderella clean the house. While cleaning Cinderella found beautiful clothes for the party. Unfortunately, hateful stepmother cut her dress and went to the concert without Cinderella.Shortly there after, a good witch appeared, provides Cinderella with a stylish new vehicle. However, she warned that the would magic will disappear in the middle of the night. Cinderella thanked her and left for the ball. The Prince was astonished and asked her to dance. Cinderella forgot about her miserable life. At midnight, Cinderella remembered the warning and left in a hurry. Without a farewell, she did not tell him her name. She just left one of her slippers at the party. In the early morning, the prince asked his deputy and driver to look of the owner of the shoe.When they arrived at the house, Cinderella’s stepmother tried not to let the Prince meet her. However, Cinderella’s loyal friends were there and told the prince about Ci nderella. Luckily, Cinderella and the Prince met and lived happily ever after (Cinderella story). Over centuries of children have been enjoying the classic fairy tales of the Grimm Brothers and Charles Perrault. The fanciful plots and the vivid details allow children to be entranced by characters and adventures that can only be found in these stories.One of the most beloved fairy tales, which both the Perrault and the Grimm’s have their own separate versions of Cinderella. Cinderella is able to show how both versions are able to feed off the same plots while personifying the century and social economic situation in which they have lived†. Given that the time periods are very different (by 150 years), the formula for their fairy tales seems to remain constant. Character development, which is very important in fairy tales is both well done and accurately portrays the living situation for a character in the time period of when it was written.Perrault's version seems to put Cinderella's family in a higher, well-off situation of the Grimm's because she is still abided to obey the rules that her dying mother had set for her. Something that you would see a women do in the late 1700's. Her higher class and the rules of her generation has set her to not have revenge on her stepsisters and helps her marry the prince in the end; as result, this makes a happy story for everyone. This also gives off the rules of the time to the young girls who would be listening or reading this story back then.They knew their place in society and tales like Alzair Salim. The Arabic story, titled Rihab, has key elements in the story line that make it different from Perrault's Cinderella. The theme becomes different as the end of the tale results in revenge on the stepsisters from Rihab. This variation in the story line represents the setting in which the Grimm's either lived in themselves, or the living situation of the people who related this tale to the Grimm's† (compar ing Versions of Cinderella). Finally, the Cinderella story is trying to explain the hope for the future and waiting a better life.Cinderella believed marring Prince that lived in a beautiful palace was a sign that she had reached her goal. But it's nice to have a goal and actually get there. The story of Cinderella has transferred to many different era’s. The Greek historian Strabo said a similar story about Egyptian maid of Greek origin called Rohdobs, which has lagged behind Ahmose II ceremony because it does the work for other maids. Eagle came and stole her shoes and put it in front of the king. Eagle asked the king of all the women of his parish experience shoe was the only Rohdobs to boot Aumha.He fell King Pegramha married her. And can refer to the assets of the story until the sixth century BC from the days of Aesop (620-560 BC). Famed author of fairy tales, and a similar story appeared in 860 AD in China called yen weighed. As many as similar stories talk about injus tices and hating in different languages around the world. Cinderella has different types of versions stories, which have the same benefits for children (Cinderella Wikipedia). Work Cite D. L. Ashliman. Cinderella story. 28 October 2012. Cinderella story. 28 October 2012. Comparing versions Cinderella story. 28 October 2012.

Ratio Analysis

Though there are innumerable literatures available on the subject, the most appropriate studies have been reviewed. Dr. Promod Kumar published a book in 1991 â€Å"Analysis of financial statement of Indian Industries† The study covered the 17 private sector, 5 state owned public sector and 1 central public sector companies. He studied analysis of activities, assessment of profitability, return on capital investment, analysis of financial structure, analysis of fixed assets and working capital.In his research he revealed various problems of industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. 1Ahindra Chakrabati published an articles â€Å"Performance of public sector enterprises a Case study on fertilizers† in â€Å"The Indian journal of public enterprise† in the year 1988-89. He made analysis of consumption and production of fertilizer by public sector; he also made analysis of profit and loss statement. He gave suggestion to improve the overall performance of public enterprise. In the year of 2002, Dr. Sugan C. Jain has written a book on â€Å"Performance appraisal automobile industry† In his study he has analyses the performance of the automobile industry and presented comparative study of some national and international units. The operational efficiency and profitability had been analyzed using the composite index approach. He made several suggestions from the strengthening the financial soundness improving profitability, working capital the performance of fixed assets. 3 Recently in the year 1998 a study was made by S.J. parmar on â€Å"Financial Efficiency-Modern methods, tools & Techniques† for the period from 1998-89 to 1994-95. He had made an attempt to analyze financial strength, liquidity, profitability, cost and sales trend and social welfare trend by using various ratios analysis, common size analysis and value added analysis. He made several suggestions for the improvement of profitability of industry. In his analysis, he indicates various reasons for higher cost, low profitability, and inefficient use of internal resources. Dr Sanjay Bhayani published a book in 2003, â€Å"Practical financial statement analysis† The study covered 16 public limited cement companies in private sector. He made study of analysis of profitability, working capital, capital structure and activity of Indian cement industry. In his research he revealed various problems of cement industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. Ram Kumar,Kakani Biswatosh saha and V. N. Reddy has written research paper on Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study. This paper attempts to provide an empirical validation of the widely held existing theories on the determinants of fi rm performance in the Indian context. The study uses financial statement and capital market data of 566 large Indian firms over a time frame of eight years divided into two sub-periods (viz. 1992-96, and 1996-2000) to study Indian firms' financial performance across various dimensions viz. , shareholder value, accounting profitability and its components, growth and risk of the sample firms. It reveals that even on the same data, the determinants of market-based performance measures and accounting-based performance measures differ due to influence of ‘Capital Market Conditions'. We found that size, marketing expenditure, and international diversification had a positive relation with a firm's market valuation.Apart from these firm attributes that reflect either operating parameters of firms or ‘strategic choice' of firm managers, we also found that a firm's ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Pu blic Shareholders, and the leverage of the firm were important factors affecting its financial performance. The different implications of the findings for various stakeholders of a firm are also discussed. 6Dutts S. K has written an article on â€Å"Indian tea industry an appraisal† which was published in Management accountant in the year of March 1992.He analyzed the profitability, liquidity and financial efficiency by using various ratios. 7 Objectives of the study  · To evaluate the financial performance of the selected units of Pharmaceutical industry  · To compare the financial results of the Pharmaceutical industry as Dr Reddy's Laboratories Ltd and Lupin Ltd  · To enquire the adequacy or the accounting information desired from the statement in conformity with laid down accounting statements by the institute of Chartered Accountants of India (ICAI).  · To study the growth of the said companies To give suggestion for best financing method and efficient utilizatio n of fixed assets METHODOLOGY OF THE STUDY: Source of the data: â€Å"Comparative Financial statement Analysis & Innovation in Private sector Pharmaceutical Companies in India† has been made by using data from financial statements of all five major players in cement industry, they are – Dr Reddy's Laboratories Ltd. (Dr. RDL), Ambuja Lupin Ltd. (LL), the period of the study was ten years from 2001 to 2010. The data was collected from cpitaline database and from the annual reports of the respective companies.Hypothesis for the study: For the present study tested following null hypotheses are tested-  · Ho1: The Dr Reddy's Laboratories Ltd. did not achieve better profitability than Lupine Ltd.  · Ho2: The Dr Reddy's Laboratories Ltd. did not achieve better liquidity than Lupine Ltd.  · Ho3: The Dr Reddy's Laboratories Ltd. did not achieve better turnover than Lupine Ltd. Scope of the study: the study Comparative Financial statement Analysis & Innovation in Private s ector Pharmaceutical Companies in India.The study therefore includes financial structure performance, working capital performance, and Profitability performance but excludes non-financial areas such as production, marketing, personnel and R& D from its purview. Techniques used for analysis: The data have been analyzed with the help of ratio analysis, trend analysis, common size analysis-T test to test the relation among different ratios of two selected companies. Limitation of the study: In order to facilitate uniformity in data, years have been readjusted and the data have been recast as on 31st March of each year.The figure taken from the annual reports have been rounded off to two decimals of rupees in crores. The data available in financial statements have been translated in to a pre-designed structure format so that a meaningful interpretation could be made through inter-firm and intra firm comparisons. The format in which the data have been classified is selected after careful consideration of the operation Pharmaceutical Companies. Nevertheless, the limitations do in no way act as a deterrent in drawing effective and meaningful inferences from the studyAnalysis of the data: for knowing Comparative Financial statement Analysis & Innovation in Private sector Pharmaceutical Companies in India the commonly used ratio: fixed Gross profit, Net profit, Return on capital employed, Return on Net worth and Earning per share, Current ratio, Debtors Velocity (Days), Creditors Velocity (Days), Debt equity ratio and Interest coverage ratio, Inventory turnover Ratio, Debtors Turnover Ratio and Total Assets Turnover Ratio Analysis and interpretation: Table-1 Profitability Ratios of Dr Reddy's Laboratories Ltd & Lupine Ltd. Gross profit Net profit ROC RON EPS Year Dr. RDL Lupin Ltd. Dr.RDL Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. 2001 22. 16 9. 25 19 6. 65 31. 5 23. 02 29. 23 31. 13 45. 32 201. 66 2002 33. 1 12. 49 32. 39 7. 54 42. 06 16. 64 45. 71 22. 07 59. 56 17. 42 2003 30. 78 12. 2 28. 34 7. 3 26. 44 16. 05 24. 02 20. 3 50. 6 17. 44 2004 21. 55 19. 07 20. 4 12. 48 15. 61 27. 1 14. 7 36. 14 36. 37 23. 76 2005 7. 9 9. 77 9. 19 6. 96 2. 19 12. 75 2. 77 17. 79 7. 85 20. 09 2006 16. 27 16. 29 14. 12 11 9. 24 20. 86 8. 57 31. 93 26. 82 44. 61 2007 37. 06 16. 27 32. 39 10. 53 35. 94 19. 39 35. 47 27. 89 69. 45 36. 75 2008 21. 63 19. 27 18. 47 13. 53 12. 01 23. 85 10. 35 32. 02 27. 2 52. 31 2009 21. 77 18. 28 17. 8 14. 17 13. 55 22. 29 11. 14 30. 97 32. 25 48. 22 2010 28. 77 21. 56 23. 52 17. 7 17. 79 25. 6 15. 14 33. 23 48. 25 70. 7 Total 240. 99 154. 45 215. 62 107. 86 206. 33 207. 55 197. 1 283. 47 404. 09 532. 96 Average 24. 099 15. 445 21. 562 10. 786 20. 633 20. 755 19. 71 28. 347 40. 409 53. 296 Min 7. 9 9. 25 9. 19 6. 65 2. 19 12. 75 2. 77 17. 79 7. 85 17. 42 Max 37. 06 21. 56 32. 39 17. 7 42. 06 27. 1 45. 71 36. 14 69. 45 201. 66 Sources: Data has been taken from annual reports The gross profit ratio of Dr. RDL was 22 . 16 % in 2001 which went down in to 7. 9% in 2005 but it rose up to 28. 7% in last years of the study period. The ratio ranged between 7. 9% in 2005 to 37. 06% in 2007. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 24. 09% indicated. The gross profit ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 15. 45%. The ratio was the highest in the year of 2010 and very lowest 2001. T-test T-Test: Calculated value of gross profit ratio is 2. 86 Tabulated value at 5% significant value=1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The Net profit ratio of Dr.RDL was 19% in the year of 2001 and increased to 32. 39% in the year of 2002. The ratio went down to 28. 34% in year of 2003. The ratio was very low of 9. 19% during the year of 2005 and very highest during the year of 2002. The average ratio was 21. 56% with fluctuated trend. The Net profit r atio of Lupin Ltd. was 6. 65 % in 2001 which went down in to 6. 96% in 2005 but it rose up to 17. 7% in last years of the study period. The ratio ranged between 6. 65% in 2001 to 17. 7% in 2010. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 10. 78% indicated. T-testCalculated value of net profit ratio is 4. 01 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The return on capital employed ratio was 31. 5% in 2001 which went down to 9. 24 % in the year of 2006 and also went down to 13. 55% and 17. 79 during the years of 2009 and 2010 respectively. The ratio ranged between 2. 19% in year of 2005to 42. 06% in the year of 2002. The ratio showed down ward trend with an average of 20. 63%. The return on capital employed of Lupin Ltd was showing much fluctuated trend during the year study period.The average ratio was 20. 76 in the Lupin Ltd which sho wed fluctuated trend during the study period. The ratio was 23. 02% in year of 2001 and 20. 86% in year of 2006 and 25. 6% during the last year of study period. The ratio has gone down due to decreased in volume of sales. The sales have gone down since price rise took place in market. T-test Calculated value of return on capital employed ratio is 0. 028 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. The Return on net worth ratio of Dr. RDL was 29. 3% in 2001 which went down in to 8. 57% in 2006 but it rose up to 15. 14% in last years of the study period. The ratio ranged between 2. 77% in 2005 to 45. 71% in 2002. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was indicated19. 71%. The Return on net worth ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 28. 347%. The ratio ranged between 17. 79% in 2005 to 36. 14% in 2004. T-test Calculated value of Return on net worth ratio is 1. 84 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. Earnings per share of Dr. RDL were Rs. 45. 32 in the year of 2001 and Rs 59. 56 in the year of 59. 56. The EPS went down to 50. 6 in the year of 2003 and Rs 36. 37 in the year 2004 and Rs. 7. 85 in the year of 2005. The EPS rose to 69. 45 in the year 2007and again went down to 27. 62 in 2008. The EPS Rs. 48. 25 during the last year of study period. The average ESP was 40. 41 with downward trend during the study period. The EPS was 201. 66 in Lupin Ltd. and went down to 20. 09 in the year of 2005 and reached down to 70. 7 during the last year of study period.The EPS showed lower level of EPS due to less utilization of financial leverage. T-test Calculated value of Earnings per share is 0. 70 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of s ignificance t cal ; t tab Hence hypothesis is accepted. Table-2 Liquidity ratio of Dr. RDL and Lupin Ltd. Current ratio Debtors Velocity (Days) Creditors Velocity (Days) Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 1. 69 1. 82 48 47 76 27 2002 3. 09 1. 74 54 61 79 35 2003 4. 86 1. 58 60 62 82 36 2004 3. 73 1. 34 60 66 85 38 2005 2. 49 1. 1 60 56 90 34 2006 1. 5 1. 38 59 57 94 35 2007 2. 21 1. 68 66 63 105 38 2008 3. 05 1. 53 85 69 109 42 2009 3. 15 1. 24 79 77 110 45 2010 2. 44 1. 27 100 81 120 52 Total 28. 56 14. 68 671 639 950 382 Average 2. 856 1. 468 63 62 92 37 Min 1. 69 1. 1 48 47 76 27 Max 4. 86 1. 82 100 81 120 52 Sources: Data has been taken from annual reports In year 2001 Dr. RDL has 1. 69 as its current ratio and after that it continuously increased from 3. 09 to 4. 86 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negative changes but it moves from 2. 21 to 3. 05 in year 2007 and 2008 respectively.In the yea r 2009 and 2010 it shows again little fluctuated with an average of 2. 85. In year 2001 Lupin Ltd has 1. 82 as its current ratio and after that it continuously decreased from 1. 74 to 1. 58 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negative changes but it moves down from 1. 68 to 1. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 1. 46. T-test Calculated value of current ratio is 4. 50 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. In year 2001 Dr. RDL has 48 days as its Debtors Velocity (Days) and after that it continuously increased from 54 (Days) to 60 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negative changes but it moves down from 66 days to 85 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctua tions with an average of 63 days. In year 2001 Lupin Ltd. has 47 days as its Debtors Velocity (Days) and after that it continuously increased from 61 (Days) to 62 in the year of 2002 and 2003 respectively.But in year 2004, 2005 & 2006 it also showed negative changes but it moves up from 63 days to 69 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 62 days. T-test Calculated value of Debtors Velocity (Days) is 0. 3 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL 76 days as its Creditors Velocity (Days) and after that it continuously increased from 79 (Days) to 82 in the year of 2002 and 2003 respectively.But in year 2004, 2005 & 2006 it also showed negative changes but it moves down from 105 days to 109 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with a n average of 92 days. In year 2001 Lupin Ltd. 27 days as its Creditors Velocity (Days) and after that it continuously increased from 35 (Days) to 36 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed positives changes but it moves down from 38 days to 42 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 37 days.T-test Calculated value of Creditors Velocity (Days) is 10. 83 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Leverage Ratios of Dr. RDL & Lupin Ltd. Table-3 Leverage Ratios of Dr. RDL & Lupin Ltd. Debt equity ratio Interest coverage ratio Year Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. 2001 0. 56 1. 79 5. 05 2. 09 2002 0. 19 1. 88 34. 27 2. 55 2003 0. 01 1. 77 72. 27 2. 53 2004 0. 02 1. 24 72. 71 4. 89 2005 0. 08 0. 86 3. 82 4. 12 2006 0. 28 1. 18 10. 39 8. 6 2007 0. 19 1. 16 27. 29 8. 65 2008 0. 09 0. 83 40. 74 13. 99 2009 0. 11 0. 71 27. 62 2. 35 2010 0. 11 0. 47 68. 8 25. 97 Total 1. 64 11. 89 362. 96 85. 74 Average 0. 16 1. 19 36. 30 8. 57 Min 0. 01 0. 47 3. 82 2. 09 Max 0. 56 1. 88 72. 71 25. 97 Sources: Data has been taken from annual reports The Debt equity ratio of Dr. RDL was 0. 56 in 2001 which went down in to 0. 28 in 2006 but it went down to 0. 11 in last years of the study period. The ratio ranged between 0. 01 in 2003 to 0. 56 in 2001. The ratio showed highly fluctuated trend during the study period. The average Debt equity ratio was indicated 0. 16. In year 2001 Lupin Ltd. 1. 79 as its Debt equity ratio and after that it continuously decreased from 1. 8 to 1. 77 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed positives changes but it moves down from 1. 16 to 0. 83 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 19 days. T-test Calc ulated value of Debt equity ratio is 6. 28 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Interest coverage ratio of Dr. RDL was 5. 05 in the year of 2001 and Rs 3. 82 in the year of 2006. The Interest coverage ratio went up to 72. 7 in the year of 2003 and 72. 71 in the year 2004 and 3. 82 in the year of 2005. The Interest coverage ratio rose to 27. 29 in the year 2007and again went up to 40. 74in 2008. The Interest coverage ratio was 68. 8 during the last year of study period. The average Interest coverage ratio was 36. 30 with upward trend during the study period. In year 2001 Lupin Ltd. 2. 09 as its Debt equity ratio and after that it continuously decreased from 2. 55 to 2. 53 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negatives changes but it moves down from 8. 65 to 13. 99 in year 2007 and 2008 respectively.In the year 2009 and 2010 it shows aga in little fluctuations with an average of 8. 57. T-test Calculated value of Interest coverage ratio is 3. 13 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Table-4 Turnover ratio of Dr. RDL and Lupin Ltd. Inventory Turnover Ratio Debtors Turnover Ratio Total Assets Turnover Ratio Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 8. 65 11. 3 4. 76 5. 39 1. 03 1. 6 2002 9. 01 6. 61 4. 29 3. 06 0. 99 1. 32 2003 7. 44 7. 02 3. 64 2. 75 0. 92 1. 29 2004 6. 99 6. 74 3. 97 3. 89 0. 88 1. 7 2005 5. 79 5. 23 3. 78 5. 37 0. 85 1. 31 2006 5. 64 5. 95 4. 21 5. 69 0. 82 1. 28 2007 8. 69 5. 7 4. 94 4. 9 0. 75 1. 14 2008 6. 11 5. 08 3. 53 4. 7 0. 65 1. 09 2009 6. 16 4. 39 3. 66 4. 39 0. 64 0. 99 2010 5. 57 5. 13 3. 66 4. 51 0. 59 0. 94 Total 70. 05 63. 15 40. 44 44. 65 8. 12 12. 23 Average 7. 005 6. 315 4. 044 4. 465 0. 812 1. 223 Min 5. 57 4. 39 3. 53 2. 75 0. 59 0. 94 Max 9. 01 11. 3 4. 94 5 . 69 1. 03 1. 6 Sources: Data has been taken from annual reports In year 2001 Dr. RDL 8. 65 as its Inventory Turnover Ratio and after that it continuously decreased from 9. 01 to 7. 44 in the year of 2002 and 2003 respectively.But in year 2004, 2005 & 2006 it also showed negatives changes but it moves down from 8. 69 to 6. 11 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 7. 01. In year 2001 Lupin Ltd. 11. 3 as its Inventory Turnover Ratio and after that it continuously increased from 6. 61 to 7. 02 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with ups and downs but it moves down from 5. 7 to 5. 08 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 6. 2. Calculated value of Inventory Turnover Ratio is 0. 72 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 4. 76 as its Debtors Turnover Ratio and after that it continuously decreased from 4. 29 to 3. 64 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with upward movements but it moves down from 4. 94 to 3. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 04.In year 2001 Lupin Ltd. 5. 39 as its Debtors Turnover Ratio and after that it continuously decreased from 3. 06 to 2. 75 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with upward movements but it moves down from 4. 9 to 4. 73 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 47. Calculated value of Debtors Turnover Ratio is 1. 21 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hy pothesis is accepted. In year 2001 Dr. RDL. 1. 3 as its Total Assets Turnover Ratio and after that it continuously decreased from 0. 99 to 0. 92 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with downward movements but it moves down from 0. 75 to 0. 65 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 0. 81. In year 2001 Lupin Ltd. 1. 6 as its Total Assets Turnover Ratio and after that it continuously decreased from 1. 32 to 1. 29 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with upward movements but it moves down from 1. 4 to 1. 09 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 22. Calculated value of Total Assets Turnover Ratio is 5. 34 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hyp othesis is rejected. Summary findings and Conclusion The liquidity ratio of Lupin Ltd is highly threatening when compared with Dr. RDL. Thus Lupin Ltd has to control the current liabilities or to increase the current assets so that they can cover all the current liabilities and be in safer position.Thus slightly fluctuations in sales in that situation can not affect the paying capacity of the concern and thus maintain the credibility. The profitability ratio of Dr. RDL is better when it is compared with Lupin Ltd. It can be inferred from the result that Lupin Ltd can expand the business or can move further in newer directions as it is experiencing continuously growth in the profitability. Lupin Ltd has to give a fairer thought to reduce cost in providing services and increasing the turnover so that sustained growth in profitability can be seenReturn on Net Capital Employed is the best test of overall profitability and efficiency of the business firm. A company with high rate of retu rn on capital employed would be in a position to capitalize; e. g. it can take advantage of all favorable market opportunities. The study shows that returns on capital employed in selected units in India had marked a fluctuated trend. The average was 17. 79 and 25. 6 percent in units in India respectively. This ratio was satisfactory. On the whole Dr. DRL had the highest return net on capital employed of As compared to the Lupin ltd.In the light of the above discussion it is suggested that Lupin ltd should undertake cost control measure so that increase net profit before interest and taxes of the company might enhance the return on net capital employed. The solvency ratio also reveals the same track record of an upper hand over Lupin ltd. This position depicts the financial soundness or good financial health of the DR. RDL. In this sector Lupin ltd. has to work hard for providing the financial health in terms of capital also. The turnover ratio of Lupin Ltd. is showing better positi on when compared to DR. RDL. This fact proves that the market size in Lupin Ltd. s far more better than the DR. RDL which in turn is gearing its growth in all the stream. Thus DR. RDL has to work for increasing the market size and customer base so that it can achieve the trend of continuous growth. It can be inferred from the overall financial analysis that Lupin Ltd ltd. has to rethink and device the strategies so that it can lead towards positive way and become the major players. Innovation though financial statement analysis can be seen though mergers and acquisitions and launching of new products and schemes so that enterprise can be proud of being major market players and setter newer and newer goals in the future.Cost accounting and cost audit should be made mandatory for this units and cost sheet along with annual financing statement should be prepared. The policy of borrowed financing in selected Parma group of companies under study was not proper. So the companies should us e widely the borrowed funds and should try to reduce the fixed charges burden gradually by decreasing borrowed funds and by enhancing the owner’s fund. For this purpose companies should enlarge their equity share capital by issuing new equity shares. There has been too much of government interference in policy and day-to-day working and decisions.This leads to delays in decision-making. This should be abolished. There is no incentive to the employees to perform better. Also there is no accountability because no one is held responsible for a failure in achieving targets for this kind of problem responsibility centre should be created. Improper planning and delays in implementation of projects lead to rise in their cost. So properly planning should be made. To regularize and optimize the use of cash balance proper techniques may be adopted for planning and control of cash. The investments in inventories should be reduced and need to introduce a system of prompt collection of de bts.Selected pharma companies should try to use properly their operating assets and should try to minimize their non-operating expenses. To conclude the study, it can be said that the adoption of above measures will doubtlessly help the selected companies to improve their overall performance in the management. With the efficient management of long term fund, selected companies can utilized their capacity optimally and accelerate economic growth of India by increasing the production of pharma product at reasonable cost. References. 1. Dr. Promod Kumar. â€Å"Analysis of financial statement of Indian Industries†Saujaniya Publication Ltd. 1992 2. Ahindra Chakrabati: â€Å"Performance of public sector enterprises a Case study on fertilizers† The Indian journal of public enterprise. 1988-89 3. Dr. Sugan C. Jain: â€Å"Performance appraisal automobile industry† Raj Publishing House, c2002. Jaipur, India 4. Parmar S. J. :â€Å"Financial Efficiency-Modern methods, tool s & Techniques† Raj publication year of publication-2001 5. Dr Sanjay Bhayani: â€Å"Practical financial statement analysis† Raj publication,2003 6. Kakani, Ram Kumar, Saha, Biswatosh and Reddy, V. N.Nagi, Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study (November 2001). National Stock Exchange of India Limited, NSE Research Initiative Paper No. 5. 7. Dutts S. K has: â€Å"Indian tea industry an appraisal† Management accountant, March-1992 8. Brigham, Eugene. F and Joel F. Houston. â€Å"Fundamentals of Financial Management, Ninth Edition, Harcourt College Publishers, Fort Worth, 2001. 9. Review of Business Research, 2007 by Tarun K. Mukherjee, Prakash Deo. 10. Gitman, L. J. , â€Å"Principles of Management finance,† New York: Harper & Row publishers,1982,p. 81 11. Paton & Paton. , â€Å"Corporation Accounts and statements†, New York: Macmillan Company, 1964, p. 362. 12. Kulshresh tha, N. K. , â€Å"Analysis of Financial statements of Indian Paper industry†, Aligarh: Navman Publishing House, 1972, p. 133. 13. Kulshreshtha, N. K. , Op. cit. , p. 134. 14. Hunt W. and Donaldson, G. , â€Å"Business Finance-text and cases†, Illinois: Richard D. Irwin, 1965, Pp. 114-115. 15. Roy Chowdhar, A. B. , â€Å"Analysis and Interpretation of Financial statements†, New Delhi Orient Longmans, 1970, p. 24. 16. Bogen, J. J. , â€Å"Financial Handbook† New Delhi: The Ronald press, 1957,p. 53. 17. Weston, J. F. and Brigham, E. F. , â€Å"Management finance†, New York: Holt, Rinehart and Winton, Inc, . 1972, p. 88. 18. Hingorani, N. L. and Raman than, A. R. , â€Å"Management Accounting†, New Delhi: Sultan Chand & Sons, 1977,p. 115. 19. Srivastava, R. M. , â€Å"Financial Management†, Meerut India: Pragati Prakasjan, 1979, p. 476. 20. Westiwick, C. A. , â€Å"Management: How to use ratios†, Epping Essex: Grower Press Ltd. 19 73,p. 5 21. Bogen, J. J. , Op. cit. Pp. 751-752. 22. Mohsin, M. , â€Å"Financial Planning and Control†; NewDelhi: Vikas publishing House Pvt. Ltd. , 1980, p. 174. 23.Kulshrestha, N. K. Op. cit. , 139. 24. HENDERSON, G. V. , Gurry, J. R. Trnnep Oh. , James E. Wirt. , â€Å"An Introduction to financial Management†, California: Addition-Wesley publishing company, 1984, p. 122. 25. Anthony, R. N. and Reece, J. S. , Op. , cit. , p. 198. 26. Information obtained through unstructured interviews from financial managers of the sample units though telephone. 27. Annual reports of selected cement company from 2003-04 to 2008-09 28. Kennedy, R. D. and Mcmullen, S. Y. , â€Å"Financial statements: Forms analysis and interpretation†, Illnois: Richard D. Irwin inc. 1964, p. 404. Information about this Article Peer-review ratings (from 2 reviews, where a score of 100 represents the ‘average’ level): Originality = 175. 00, importance = 162. 50, overall quality = 16 2. 50 This Article was published on 14th March, 2012 at 18:41:24 and has been viewed 2635 times. This work is licensed under a Creative Commons Attribution 2. 5 License. The full citation for this Article is: Kakkad, R. (2012). Comparative Financial statement Analysis & Innovation in Private sector Pharmaceutical Companies in India-An empirical Analysis. PHILICA. COM Article number 318. Ratio Analysis Though there are innumerable literatures available on the subject, the most appropriate studies have been reviewed. Dr. Promod Kumar published a book in 1991 â€Å"Analysis of financial statement of Indian Industries† The study covered the 17 private sector, 5 state owned public sector and 1 central public sector companies. He studied analysis of activities, assessment of profitability, return on capital investment, analysis of financial structure, analysis of fixed assets and working capital.In his research he revealed various problems of industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. 1Ahindra Chakrabati published an articles â€Å"Performance of public sector enterprises a Case study on fertilizers† in â€Å"The Indian journal of public enterprise† in the year 1988-89. He made analysis of consumption and production of fertilizer by public sector; he also made analysis of profit and loss statement. He gave suggestion to improve the overall performance of public enterprise. In the year of 2002, Dr. Sugan C. Jain has written a book on â€Å"Performance appraisal automobile industry† In his study he has analyses the performance of the automobile industry and presented comparative study of some national and international units. The operational efficiency and profitability had been analyzed using the composite index approach. He made several suggestions from the strengthening the financial soundness improving profitability, working capital the performance of fixed assets. 3 Recently in the year 1998 a study was made by S.J. parmar on â€Å"Financial Efficiency-Modern methods, tools & Techniques† for the period from 1998-89 to 1994-95. He had made an attempt to analyze financial strength, liquidity, profitability, cost and sales trend and social welfare trend by using various ratios analysis, common size analysis and value added analysis. He made several suggestions for the improvement of profitability of industry. In his analysis, he indicates various reasons for higher cost, low profitability, and inefficient use of internal resources. Dr Sanjay Bhayani published a book in 2003, â€Å"Practical financial statement analysis† The study covered 16 public limited cement companies in private sector. He made study of analysis of profitability, working capital, capital structure and activity of Indian cement industry. In his research he revealed various problems of cement industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. Ram Kumar,Kakani Biswatosh saha and V. N. Reddy has written research paper on Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study. This paper attempts to provide an empirical validation of the widely held existing theories on the determinants of fi rm performance in the Indian context. The study uses financial statement and capital market data of 566 large Indian firms over a time frame of eight years divided into two sub-periods (viz. 1992-96, and 1996-2000) to study Indian firms' financial performance across various dimensions viz. , shareholder value, accounting profitability and its components, growth and risk of the sample firms. It reveals that even on the same data, the determinants of market-based performance measures and accounting-based performance measures differ due to influence of ‘Capital Market Conditions'. We found that size, marketing expenditure, and international diversification had a positive relation with a firm's market valuation.Apart from these firm attributes that reflect either operating parameters of firms or ‘strategic choice' of firm managers, we also found that a firm's ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Pu blic Shareholders, and the leverage of the firm were important factors affecting its financial performance. The different implications of the findings for various stakeholders of a firm are also discussed. 6Dutts S. K has written an article on â€Å"Indian tea industry an appraisal† which was published in Management accountant in the year of March 1992.He analyzed the profitability, liquidity and financial efficiency by using various ratios. 7 Objectives of the study  · To evaluate the financial performance of the selected units of Pharmaceutical industry  · To compare the financial results of the Pharmaceutical industry as Dr Reddy's Laboratories Ltd and Lupin Ltd  · To enquire the adequacy or the accounting information desired from the statement in conformity with laid down accounting statements by the institute of Chartered Accountants of India (ICAI).  · To study the growth of the said companies To give suggestion for best financing method and efficient utilizatio n of fixed assets METHODOLOGY OF THE STUDY: Source of the data: â€Å"Comparative Financial statement Analysis & Innovation in Private sector Pharmaceutical Companies in India† has been made by using data from financial statements of all five major players in cement industry, they are – Dr Reddy's Laboratories Ltd. (Dr. RDL), Ambuja Lupin Ltd. (LL), the period of the study was ten years from 2001 to 2010. The data was collected from cpitaline database and from the annual reports of the respective companies.Hypothesis for the study: For the present study tested following null hypotheses are tested-  · Ho1: The Dr Reddy's Laboratories Ltd. did not achieve better profitability than Lupine Ltd.  · Ho2: The Dr Reddy's Laboratories Ltd. did not achieve better liquidity than Lupine Ltd.  · Ho3: The Dr Reddy's Laboratories Ltd. did not achieve better turnover than Lupine Ltd. Scope of the study: the study Comparative Financial statement Analysis & Innovation in Private s ector Pharmaceutical Companies in India.The study therefore includes financial structure performance, working capital performance, and Profitability performance but excludes non-financial areas such as production, marketing, personnel and R& D from its purview. Techniques used for analysis: The data have been analyzed with the help of ratio analysis, trend analysis, common size analysis-T test to test the relation among different ratios of two selected companies. Limitation of the study: In order to facilitate uniformity in data, years have been readjusted and the data have been recast as on 31st March of each year.The figure taken from the annual reports have been rounded off to two decimals of rupees in crores. The data available in financial statements have been translated in to a pre-designed structure format so that a meaningful interpretation could be made through inter-firm and intra firm comparisons. The format in which the data have been classified is selected after careful consideration of the operation Pharmaceutical Companies. Nevertheless, the limitations do in no way act as a deterrent in drawing effective and meaningful inferences from the studyAnalysis of the data: for knowing Comparative Financial statement Analysis & Innovation in Private sector Pharmaceutical Companies in India the commonly used ratio: fixed Gross profit, Net profit, Return on capital employed, Return on Net worth and Earning per share, Current ratio, Debtors Velocity (Days), Creditors Velocity (Days), Debt equity ratio and Interest coverage ratio, Inventory turnover Ratio, Debtors Turnover Ratio and Total Assets Turnover Ratio Analysis and interpretation: Table-1 Profitability Ratios of Dr Reddy's Laboratories Ltd & Lupine Ltd. Gross profit Net profit ROC RON EPS Year Dr. RDL Lupin Ltd. Dr.RDL Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. 2001 22. 16 9. 25 19 6. 65 31. 5 23. 02 29. 23 31. 13 45. 32 201. 66 2002 33. 1 12. 49 32. 39 7. 54 42. 06 16. 64 45. 71 22. 07 59. 56 17. 42 2003 30. 78 12. 2 28. 34 7. 3 26. 44 16. 05 24. 02 20. 3 50. 6 17. 44 2004 21. 55 19. 07 20. 4 12. 48 15. 61 27. 1 14. 7 36. 14 36. 37 23. 76 2005 7. 9 9. 77 9. 19 6. 96 2. 19 12. 75 2. 77 17. 79 7. 85 20. 09 2006 16. 27 16. 29 14. 12 11 9. 24 20. 86 8. 57 31. 93 26. 82 44. 61 2007 37. 06 16. 27 32. 39 10. 53 35. 94 19. 39 35. 47 27. 89 69. 45 36. 75 2008 21. 63 19. 27 18. 47 13. 53 12. 01 23. 85 10. 35 32. 02 27. 2 52. 31 2009 21. 77 18. 28 17. 8 14. 17 13. 55 22. 29 11. 14 30. 97 32. 25 48. 22 2010 28. 77 21. 56 23. 52 17. 7 17. 79 25. 6 15. 14 33. 23 48. 25 70. 7 Total 240. 99 154. 45 215. 62 107. 86 206. 33 207. 55 197. 1 283. 47 404. 09 532. 96 Average 24. 099 15. 445 21. 562 10. 786 20. 633 20. 755 19. 71 28. 347 40. 409 53. 296 Min 7. 9 9. 25 9. 19 6. 65 2. 19 12. 75 2. 77 17. 79 7. 85 17. 42 Max 37. 06 21. 56 32. 39 17. 7 42. 06 27. 1 45. 71 36. 14 69. 45 201. 66 Sources: Data has been taken from annual reports The gross profit ratio of Dr. RDL was 22 . 16 % in 2001 which went down in to 7. 9% in 2005 but it rose up to 28. 7% in last years of the study period. The ratio ranged between 7. 9% in 2005 to 37. 06% in 2007. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 24. 09% indicated. The gross profit ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 15. 45%. The ratio was the highest in the year of 2010 and very lowest 2001. T-test T-Test: Calculated value of gross profit ratio is 2. 86 Tabulated value at 5% significant value=1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The Net profit ratio of Dr.RDL was 19% in the year of 2001 and increased to 32. 39% in the year of 2002. The ratio went down to 28. 34% in year of 2003. The ratio was very low of 9. 19% during the year of 2005 and very highest during the year of 2002. The average ratio was 21. 56% with fluctuated trend. The Net profit r atio of Lupin Ltd. was 6. 65 % in 2001 which went down in to 6. 96% in 2005 but it rose up to 17. 7% in last years of the study period. The ratio ranged between 6. 65% in 2001 to 17. 7% in 2010. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 10. 78% indicated. T-testCalculated value of net profit ratio is 4. 01 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The return on capital employed ratio was 31. 5% in 2001 which went down to 9. 24 % in the year of 2006 and also went down to 13. 55% and 17. 79 during the years of 2009 and 2010 respectively. The ratio ranged between 2. 19% in year of 2005to 42. 06% in the year of 2002. The ratio showed down ward trend with an average of 20. 63%. The return on capital employed of Lupin Ltd was showing much fluctuated trend during the year study period.The average ratio was 20. 76 in the Lupin Ltd which sho wed fluctuated trend during the study period. The ratio was 23. 02% in year of 2001 and 20. 86% in year of 2006 and 25. 6% during the last year of study period. The ratio has gone down due to decreased in volume of sales. The sales have gone down since price rise took place in market. T-test Calculated value of return on capital employed ratio is 0. 028 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. The Return on net worth ratio of Dr. RDL was 29. 3% in 2001 which went down in to 8. 57% in 2006 but it rose up to 15. 14% in last years of the study period. The ratio ranged between 2. 77% in 2005 to 45. 71% in 2002. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was indicated19. 71%. The Return on net worth ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 28. 347%. The ratio ranged between 17. 79% in 2005 to 36. 14% in 2004. T-test Calculated value of Return on net worth ratio is 1. 84 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. Earnings per share of Dr. RDL were Rs. 45. 32 in the year of 2001 and Rs 59. 56 in the year of 59. 56. The EPS went down to 50. 6 in the year of 2003 and Rs 36. 37 in the year 2004 and Rs. 7. 85 in the year of 2005. The EPS rose to 69. 45 in the year 2007and again went down to 27. 62 in 2008. The EPS Rs. 48. 25 during the last year of study period. The average ESP was 40. 41 with downward trend during the study period. The EPS was 201. 66 in Lupin Ltd. and went down to 20. 09 in the year of 2005 and reached down to 70. 7 during the last year of study period.The EPS showed lower level of EPS due to less utilization of financial leverage. T-test Calculated value of Earnings per share is 0. 70 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of s ignificance t cal ; t tab Hence hypothesis is accepted. Table-2 Liquidity ratio of Dr. RDL and Lupin Ltd. Current ratio Debtors Velocity (Days) Creditors Velocity (Days) Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 1. 69 1. 82 48 47 76 27 2002 3. 09 1. 74 54 61 79 35 2003 4. 86 1. 58 60 62 82 36 2004 3. 73 1. 34 60 66 85 38 2005 2. 49 1. 1 60 56 90 34 2006 1. 5 1. 38 59 57 94 35 2007 2. 21 1. 68 66 63 105 38 2008 3. 05 1. 53 85 69 109 42 2009 3. 15 1. 24 79 77 110 45 2010 2. 44 1. 27 100 81 120 52 Total 28. 56 14. 68 671 639 950 382 Average 2. 856 1. 468 63 62 92 37 Min 1. 69 1. 1 48 47 76 27 Max 4. 86 1. 82 100 81 120 52 Sources: Data has been taken from annual reports In year 2001 Dr. RDL has 1. 69 as its current ratio and after that it continuously increased from 3. 09 to 4. 86 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negative changes but it moves from 2. 21 to 3. 05 in year 2007 and 2008 respectively.In the yea r 2009 and 2010 it shows again little fluctuated with an average of 2. 85. In year 2001 Lupin Ltd has 1. 82 as its current ratio and after that it continuously decreased from 1. 74 to 1. 58 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negative changes but it moves down from 1. 68 to 1. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 1. 46. T-test Calculated value of current ratio is 4. 50 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. In year 2001 Dr. RDL has 48 days as its Debtors Velocity (Days) and after that it continuously increased from 54 (Days) to 60 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negative changes but it moves down from 66 days to 85 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctua tions with an average of 63 days. In year 2001 Lupin Ltd. has 47 days as its Debtors Velocity (Days) and after that it continuously increased from 61 (Days) to 62 in the year of 2002 and 2003 respectively.But in year 2004, 2005 & 2006 it also showed negative changes but it moves up from 63 days to 69 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 62 days. T-test Calculated value of Debtors Velocity (Days) is 0. 3 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL 76 days as its Creditors Velocity (Days) and after that it continuously increased from 79 (Days) to 82 in the year of 2002 and 2003 respectively.But in year 2004, 2005 & 2006 it also showed negative changes but it moves down from 105 days to 109 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with a n average of 92 days. In year 2001 Lupin Ltd. 27 days as its Creditors Velocity (Days) and after that it continuously increased from 35 (Days) to 36 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed positives changes but it moves down from 38 days to 42 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 37 days.T-test Calculated value of Creditors Velocity (Days) is 10. 83 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Leverage Ratios of Dr. RDL & Lupin Ltd. Table-3 Leverage Ratios of Dr. RDL & Lupin Ltd. Debt equity ratio Interest coverage ratio Year Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. 2001 0. 56 1. 79 5. 05 2. 09 2002 0. 19 1. 88 34. 27 2. 55 2003 0. 01 1. 77 72. 27 2. 53 2004 0. 02 1. 24 72. 71 4. 89 2005 0. 08 0. 86 3. 82 4. 12 2006 0. 28 1. 18 10. 39 8. 6 2007 0. 19 1. 16 27. 29 8. 65 2008 0. 09 0. 83 40. 74 13. 99 2009 0. 11 0. 71 27. 62 2. 35 2010 0. 11 0. 47 68. 8 25. 97 Total 1. 64 11. 89 362. 96 85. 74 Average 0. 16 1. 19 36. 30 8. 57 Min 0. 01 0. 47 3. 82 2. 09 Max 0. 56 1. 88 72. 71 25. 97 Sources: Data has been taken from annual reports The Debt equity ratio of Dr. RDL was 0. 56 in 2001 which went down in to 0. 28 in 2006 but it went down to 0. 11 in last years of the study period. The ratio ranged between 0. 01 in 2003 to 0. 56 in 2001. The ratio showed highly fluctuated trend during the study period. The average Debt equity ratio was indicated 0. 16. In year 2001 Lupin Ltd. 1. 79 as its Debt equity ratio and after that it continuously decreased from 1. 8 to 1. 77 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed positives changes but it moves down from 1. 16 to 0. 83 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 19 days. T-test Calc ulated value of Debt equity ratio is 6. 28 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Interest coverage ratio of Dr. RDL was 5. 05 in the year of 2001 and Rs 3. 82 in the year of 2006. The Interest coverage ratio went up to 72. 7 in the year of 2003 and 72. 71 in the year 2004 and 3. 82 in the year of 2005. The Interest coverage ratio rose to 27. 29 in the year 2007and again went up to 40. 74in 2008. The Interest coverage ratio was 68. 8 during the last year of study period. The average Interest coverage ratio was 36. 30 with upward trend during the study period. In year 2001 Lupin Ltd. 2. 09 as its Debt equity ratio and after that it continuously decreased from 2. 55 to 2. 53 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed negatives changes but it moves down from 8. 65 to 13. 99 in year 2007 and 2008 respectively.In the year 2009 and 2010 it shows aga in little fluctuations with an average of 8. 57. T-test Calculated value of Interest coverage ratio is 3. 13 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Table-4 Turnover ratio of Dr. RDL and Lupin Ltd. Inventory Turnover Ratio Debtors Turnover Ratio Total Assets Turnover Ratio Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 8. 65 11. 3 4. 76 5. 39 1. 03 1. 6 2002 9. 01 6. 61 4. 29 3. 06 0. 99 1. 32 2003 7. 44 7. 02 3. 64 2. 75 0. 92 1. 29 2004 6. 99 6. 74 3. 97 3. 89 0. 88 1. 7 2005 5. 79 5. 23 3. 78 5. 37 0. 85 1. 31 2006 5. 64 5. 95 4. 21 5. 69 0. 82 1. 28 2007 8. 69 5. 7 4. 94 4. 9 0. 75 1. 14 2008 6. 11 5. 08 3. 53 4. 7 0. 65 1. 09 2009 6. 16 4. 39 3. 66 4. 39 0. 64 0. 99 2010 5. 57 5. 13 3. 66 4. 51 0. 59 0. 94 Total 70. 05 63. 15 40. 44 44. 65 8. 12 12. 23 Average 7. 005 6. 315 4. 044 4. 465 0. 812 1. 223 Min 5. 57 4. 39 3. 53 2. 75 0. 59 0. 94 Max 9. 01 11. 3 4. 94 5 . 69 1. 03 1. 6 Sources: Data has been taken from annual reports In year 2001 Dr. RDL 8. 65 as its Inventory Turnover Ratio and after that it continuously decreased from 9. 01 to 7. 44 in the year of 2002 and 2003 respectively.But in year 2004, 2005 & 2006 it also showed negatives changes but it moves down from 8. 69 to 6. 11 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 7. 01. In year 2001 Lupin Ltd. 11. 3 as its Inventory Turnover Ratio and after that it continuously increased from 6. 61 to 7. 02 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with ups and downs but it moves down from 5. 7 to 5. 08 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 6. 2. Calculated value of Inventory Turnover Ratio is 0. 72 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 4. 76 as its Debtors Turnover Ratio and after that it continuously decreased from 4. 29 to 3. 64 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with upward movements but it moves down from 4. 94 to 3. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 04.In year 2001 Lupin Ltd. 5. 39 as its Debtors Turnover Ratio and after that it continuously decreased from 3. 06 to 2. 75 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with upward movements but it moves down from 4. 9 to 4. 73 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 47. Calculated value of Debtors Turnover Ratio is 1. 21 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hy pothesis is accepted. In year 2001 Dr. RDL. 1. 3 as its Total Assets Turnover Ratio and after that it continuously decreased from 0. 99 to 0. 92 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with downward movements but it moves down from 0. 75 to 0. 65 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 0. 81. In year 2001 Lupin Ltd. 1. 6 as its Total Assets Turnover Ratio and after that it continuously decreased from 1. 32 to 1. 29 in the year of 2002 and 2003 respectively. But in year 2004, 2005 & 2006 it also showed trend with upward movements but it moves down from 1. 4 to 1. 09 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 22. Calculated value of Total Assets Turnover Ratio is 5. 34 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hyp othesis is rejected. Summary findings and Conclusion The liquidity ratio of Lupin Ltd is highly threatening when compared with Dr. RDL. Thus Lupin Ltd has to control the current liabilities or to increase the current assets so that they can cover all the current liabilities and be in safer position.Thus slightly fluctuations in sales in that situation can not affect the paying capacity of the concern and thus maintain the credibility. The profitability ratio of Dr. RDL is better when it is compared with Lupin Ltd. It can be inferred from the result that Lupin Ltd can expand the business or can move further in newer directions as it is experiencing continuously growth in the profitability. Lupin Ltd has to give a fairer thought to reduce cost in providing services and increasing the turnover so that sustained growth in profitability can be seenReturn on Net Capital Employed is the best test of overall profitability and efficiency of the business firm. A company with high rate of retu rn on capital employed would be in a position to capitalize; e. g. it can take advantage of all favorable market opportunities. The study shows that returns on capital employed in selected units in India had marked a fluctuated trend. The average was 17. 79 and 25. 6 percent in units in India respectively. This ratio was satisfactory. On the whole Dr. DRL had the highest return net on capital employed of As compared to the Lupin ltd.In the light of the above discussion it is suggested that Lupin ltd should undertake cost control measure so that increase net profit before interest and taxes of the company might enhance the return on net capital employed. The solvency ratio also reveals the same track record of an upper hand over Lupin ltd. This position depicts the financial soundness or good financial health of the DR. RDL. In this sector Lupin ltd. has to work hard for providing the financial health in terms of capital also. The turnover ratio of Lupin Ltd. is showing better positi on when compared to DR. RDL. This fact proves that the market size in Lupin Ltd. s far more better than the DR. RDL which in turn is gearing its growth in all the stream. Thus DR. RDL has to work for increasing the market size and customer base so that it can achieve the trend of continuous growth. It can be inferred from the overall financial analysis that Lupin Ltd ltd. has to rethink and device the strategies so that it can lead towards positive way and become the major players. Innovation though financial statement analysis can be seen though mergers and acquisitions and launching of new products and schemes so that enterprise can be proud of being major market players and setter newer and newer goals in the future.Cost accounting and cost audit should be made mandatory for this units and cost sheet along with annual financing statement should be prepared. The policy of borrowed financing in selected Parma group of companies under study was not proper. So the companies should us e widely the borrowed funds and should try to reduce the fixed charges burden gradually by decreasing borrowed funds and by enhancing the owner’s fund. For this purpose companies should enlarge their equity share capital by issuing new equity shares. There has been too much of government interference in policy and day-to-day working and decisions.This leads to delays in decision-making. This should be abolished. There is no incentive to the employees to perform better. Also there is no accountability because no one is held responsible for a failure in achieving targets for this kind of problem responsibility centre should be created. Improper planning and delays in implementation of projects lead to rise in their cost. So properly planning should be made. To regularize and optimize the use of cash balance proper techniques may be adopted for planning and control of cash. The investments in inventories should be reduced and need to introduce a system of prompt collection of de bts.Selected pharma companies should try to use properly their operating assets and should try to minimize their non-operating expenses. To conclude the study, it can be said that the adoption of above measures will doubtlessly help the selected companies to improve their overall performance in the management. With the efficient management of long term fund, selected companies can utilized their capacity optimally and accelerate economic growth of India by increasing the production of pharma product at reasonable cost. References. 1. Dr. Promod Kumar. â€Å"Analysis of financial statement of Indian Industries†Saujaniya Publication Ltd. 1992 2. Ahindra Chakrabati: â€Å"Performance of public sector enterprises a Case study on fertilizers† The Indian journal of public enterprise. 1988-89 3. Dr. Sugan C. Jain: â€Å"Performance appraisal automobile industry† Raj Publishing House, c2002. Jaipur, India 4. Parmar S. J. :â€Å"Financial Efficiency-Modern methods, tool s & Techniques† Raj publication year of publication-2001 5. Dr Sanjay Bhayani: â€Å"Practical financial statement analysis† Raj publication,2003 6. Kakani, Ram Kumar, Saha, Biswatosh and Reddy, V. N.Nagi, Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study (November 2001). National Stock Exchange of India Limited, NSE Research Initiative Paper No. 5. 7. Dutts S. K has: â€Å"Indian tea industry an appraisal† Management accountant, March-1992 8. Brigham, Eugene. F and Joel F. Houston. â€Å"Fundamentals of Financial Management, Ninth Edition, Harcourt College Publishers, Fort Worth, 2001. 9. Review of Business Research, 2007 by Tarun K. Mukherjee, Prakash Deo. 10. Gitman, L. J. , â€Å"Principles of Management finance,† New York: Harper & Row publishers,1982,p. 81 11. Paton & Paton. , â€Å"Corporation Accounts and statements†, New York: Macmillan Company, 1964, p. 362. 12. Kulshresh tha, N. K. , â€Å"Analysis of Financial statements of Indian Paper industry†, Aligarh: Navman Publishing House, 1972, p. 133. 13. Kulshreshtha, N. K. , Op. cit. , p. 134. 14. Hunt W. and Donaldson, G. , â€Å"Business Finance-text and cases†, Illinois: Richard D. Irwin, 1965, Pp. 114-115. 15. Roy Chowdhar, A. B. , â€Å"Analysis and Interpretation of Financial statements†, New Delhi Orient Longmans, 1970, p. 24. 16. Bogen, J. J. , â€Å"Financial Handbook† New Delhi: The Ronald press, 1957,p. 53. 17. Weston, J. F. and Brigham, E. F. , â€Å"Management finance†, New York: Holt, Rinehart and Winton, Inc, . 1972, p. 88. 18. Hingorani, N. L. and Raman than, A. R. , â€Å"Management Accounting†, New Delhi: Sultan Chand & Sons, 1977,p. 115. 19. Srivastava, R. M. , â€Å"Financial Management†, Meerut India: Pragati Prakasjan, 1979, p. 476. 20. Westiwick, C. A. , â€Å"Management: How to use ratios†, Epping Essex: Grower Press Ltd. 19 73,p. 5 21. Bogen, J. J. , Op. cit. Pp. 751-752. 22. Mohsin, M. , â€Å"Financial Planning and Control†; NewDelhi: Vikas publishing House Pvt. Ltd. , 1980, p. 174. 23.Kulshrestha, N. K. Op. cit. , 139. 24. HENDERSON, G. V. , Gurry, J. R. Trnnep Oh. , James E. Wirt. , â€Å"An Introduction to financial Management†, California: Addition-Wesley publishing company, 1984, p. 122. 25. Anthony, R. N. and Reece, J. S. , Op. , cit. , p. 198. 26. Information obtained through unstructured interviews from financial managers of the sample units though telephone. 27. Annual reports of selected cement company from 2003-04 to 2008-09 28. Kennedy, R. D. and Mcmullen, S. Y. , â€Å"Financial statements: Forms analysis and interpretation†, Illnois: Richard D. Irwin inc. 1964, p. 404. Information about this Article Peer-review ratings (from 2 reviews, where a score of 100 represents the ‘average’ level): Originality = 175. 00, importance = 162. 50, overall quality = 16 2. 50 This Article was published on 14th March, 2012 at 18:41:24 and has been viewed 2635 times. This work is licensed under a Creative Commons Attribution 2. 5 License. The full citation for this Article is: Kakkad, R. (2012). Comparative Financial statement Analysis & Innovation in Private sector Pharmaceutical Companies in India-An empirical Analysis. PHILICA. COM Article number 318.

(book) norwegian wood by HARUKI MURAKAMI Essay Example | Topics and Well Written Essays - 1000 words

(book) norwegian wood by HARUKI MURAKAMI - Essay Example The sensitive portrayal of the Japanese youth who were caught in the web of contrasting culture of the East and the West, has turned into a universal appeal for understanding. The protagonist of the novel is Toru Wantabe who becomes nostalgic about his student days when he hears his favourite Beatle song ‘Norwegian Wood’ while travelling on the plane. The book is his flashback into his student life while he was studying in the University of Tokyo. The protagonist, throughout his recollection, has maintained a tender spot for the love of his life and at the same time his encounters with death, in the form of suicide have forced him to contemplate the wider meaning of life. The author has seemingly used death as a reconciliatory medium as well as that of alienation so much so that it has almost become a second theme of the novel. The book is a subtle love story of Toru and Naoko who are probably caught by circumstances into a relationship. Naoko was the girlfriend of Toru’s best friend, Kizuku. After Kizuku commits suicide at the age of 17, Naoko is lost in grief and subsequently, loses touch with Toru. They meet each other after a year in Tokyo where both of them, have gone to study. They are drawn towards each other through their common friend, who is dead. Each of them want to keep in contact because it brings them closer to Kizuku, who is more alive than dead, in the memories of the two characters. The inability of the characters to move away from the past is the bond that ultimately becomes the main cause of their separation. Though initially, Toru befriends Naoko because she was a link with his best friend but later, his feelings change into love or so he thinks. The author has used the protagonist to represent the contemporary youth who are shy to proclaim their love but are least hesitant to experiment with sex on a casual and

Compare and contrast between liberalism and conservatism Essay

Compare and contrast between liberalism and conservatism - Essay Example High level of individual freedom is the core of classical liberalism whereas liberal conservatism advocates small governmental intervention on individual matters. In other words both are similar as far as individual freedom is concerned. Classical liberalism advocates private property and liberal conservatism also do not deny earning of private property. Liberty and prosperity were the major slogans of classical liberalism. Liberal conservatives also emphasize human's freedom, capitalism and a free economy/market. Progressive liberals are not much keen in doing what they advocate in their manifesto. Most of their principles and policies were lie on paper alone. On the other hand, traditional conservatives believe in natural laws and moral principles. Tradition, custom, hierarchy, patriotism, localism regionalism etc are different dimensions of traditional conservatism whereas progressive liberals will never advocate all those things publicly, but they engage in similar activities pri vately.

Assessment of Technology centric Strategies for information security Essay

Assessment of Technology centric Strategies for information security in an organization - Essay Example It is a "best practices" strategy in that it relies on the intelligent application of techniques and technologies that exist today. The strategy recommends a balance between the protection capability and cost, performance, and operational considerations." [National Security Agency] Fahey (2004) graduated from the SANS GSEC course and uses their systematic approach to addressing risk through defense in depth. The SANS approach promulgates an efficient and cost effective methodology for improving security. The organization for which he works already had a number of policies, each designed to address a multi-layered approach to IT security such as operations security, physical security and contingency and disaster recovery. Furthermore external security personnel routinely came to the organization to perform security audits. He was concerned that one area which had not been addressed was: "a systematic procedure designed to protect against electronic attacks from hackers. This was due in part to the false sense of security which comes from being behind a firewall and partly from a lack of experience in the information security field." (Fahey, 2004, p3) In putting together a Defense in Depth security policy one must consider the characteristics of one's adversary, the motivation behind an attack and the class of attack. An adversary may be anyone from a competitor to a hacker. They may be motivated by theft of intellectual property, denial of service or simply pride in bringing down a target. Classes of attack include passive or active monitoring of communications, identity theft or close-in attacks. Besides deliberate attacks there may also be inadvertent attacks on the system, such as fire, flood, power outages - and most frequently - user error. Information Assurance is achieved when information and information systems are protected against such attacks through the application of security services such as: Availability, Integrity, Authentication, Confidentiality, and Non-Repudiation. The application of these services should be based on the Protect, Detect, and React paradigm. This means that in addition to incorporating protection mechanisms, organizations need to expect attacks and include attack detection tools and procedures that allow them to react to and recover from these attacks. No system is perfectly secure, and it has been argued that no system needs to be. To achieve Information Assurance focus must be balanced on three elements: People, Technology and Operations. "Security goals have their own contradictions because confidentiality, integrity, privacy, accountability, and recovery often conflict fundamentally. For example, accountability requires a strong audit trail and end-user authentication, which conflicts with privacy needs for user anonymity." (Sandhu 2004, page 3) Fahey's methodology for evaluating risk used the confidentiality, integrity, and availability (CIA) approach which emphasizes the importance to the organization of a particular information asset. This approach focuses budget managers on the real threats to reputation and therefore the business' ability to survive against its competitors. Fahey focuses on 3 security risks in his article: passwords, policies and patches. Fahey's risk assessment relies heavily on SANS assessment of the top 20 risks for networks in 2003/4. This brings to light the

Is legalize Marijuana a good law in Arizona Essay

Is legalize Marijuana a good law in Arizona - Essay Example In 2010, through Proposition 203, Arizona residents voted to legalise the use of medical marijuana on which legislators have been working to close any loopholes (Collom). The bill allows patients with terminal illness to use marijuana for relieve purposes following their doctor’s approval. The bill also protects them from arrests and subsequent prosecution and requires such patients to be registered. In addition, the bill provides guidelines on the medical use of marijuana, which restricts public use and working under the influence. In order to illustrate the good faith presented by the Arizona law to legalise marijuana, this paper identifies three criteria that have been met by marijuana and they include benefits of medical marijuana, control and ethical considerations. Criterion Studies indicate that legalization of marijuana is a viable solution owing to the failure of the war against drugs, of which marijuana is regarded as one. This is because; all prosecutors and law enf orcement agencies regard marijuana as a gateway to doing other hard drugs for those found in possession of it. This is in a quest to have a share of the war against drugs; which is counterproductive. ... This is due to the street value attached to marijuana as an illegal drug and its abundance to anyone who needs it. This way, it is considered fast moving merchandise for which many are willing to put their lives at risk as it is a valuable cash crop. Therefore, legalizing it removes the risk factor and rids mobsters of their criminal activities. Moreover, the active compound in marijuana stimulates appetite and increases food intake in an individual. It also enhances caloric intake by the body. This is necessary for patients undergoing chemotherapy and AIDS patients in order to stimulate hunger. Marijuana is also known to alleviate pain and have antispasmodic activity, which is crucial in treatment of Parkinson’s disease, multiple sclerosis and seizures. The use of marijuana to lower intraocular eye pressure has been effective in treatment of glaucoma, thus aid in reducing optic nerve damage. Distribution of marijuana following legalisation should be regulated from farms to th e users, with regulations established to govern farms entrusted with the role to grow marijuana, processing units can then be established and effectively regulated. Only licensed distributors and resellers should be authorised to distribute according to the required proportions. Marijuana should then cease to be an over the counter drug but be made available following prescription and according the set guidelines on use in various medical conditions. An age restriction should be put in place, with stricter restrictions put in place for persons using it for recreational purposes. The above highlights what constitutes ethical considerations by the government following a popular vote by citizens

Partition coefficient log p (scientific lab report) Essay

Partition coefficient log p (scientific lab report) - Essay Example Thru partition, coefficient was expressed with the concentration in the non-aqueous or lipophilic phase as the numerator. This was expressed in a formula â€Å"P = Coil / Cwater.† In that context, the drug’s absorption can be predicted using the partition coefficient. In logarithmic partition, coefficient values are calculated to determine the solute’s hydrophocity, lipophilicity and it’s anent absorbability. Since body membranes are usually impermeable to foreign ionic species, only un-ionized drug molecules can partition into the membrane. Hence, the lipophilicity correlates with the state of the drug including its acidity or pH level. Note that pH levels vary in all part of the body which implies that drugs partitioned in a specific part will also have diverse un-ionized states.  Ã¢â‚¬Å"Partition coefficient’ also determines the acid dissociation constant or Ka. This can be calculated using the equation of Henderson-Hasselbalch where the  "product of hydrogen ion ([H+]) and ionized acid ([A-]) concentrations† is divided by the â€Å"concentration of unionized acid ([HA]). This formula is expressed with the following:  Ka = [H+][A-] / [HA]   This experiment aims to determine the different pHs and degree of ionization affected the partition coefficient of salicylic acid. ... The combination such three equations would result to   1/P’ = 1/P + Ka/[H+]P   of which P is partition coefficient   Ka is dissociation constant   CO is total concentration in oil phase; and CW is total concentration in aqueous phase. Researchers will also obtain the â€Å"absorbance values† using different concentration of salicylic acid because this is relevant in setting a calibration curve and a graph to reflect the concentration in the aqueous phase. Moreover, a graph plotting 1/P’ against the reciprocal of hydrogen ion concentration (1/[H+]) yielded a line with an intercept of 1/P and a slope of Ka/P. Using the partition coefficient and the dissociation constant, the pKa was calculated.   Methodology This experiment comprised of two parts:  (a) determination of salicylate concentration to produce a calibration curve  and (b) salicylate concentration measured in solutions of four different pHs. a. Salicylate Concentration Determination to Produ ce a Calibration Curve   It aims to resolve the absorbance of salicylate solution at different concentrations to produce a calibration curve.  As part of the method, researcher will use five test tubes. Test Tube 1 will contain 6mL of water which will be used as the blank solution to keep the calorimeter at zero. Other test tubes will contain 5mL of water which is added to 2mL of ferric nitrate solution. Further, 1mL of different concentrations of salicylate was added to test tube 1; 0.00125M for test tube 2; 0.0025M for test tube 3; 0.00375M for test tube 4; and 0.005M for test tube 5. With calorimeter set at a wavelength of 624nm, the absorbance of each test tube of salicylate solution was determined by pouring solution in cuvettes and inserting them into the calorimeter. Data

London Zoo Case Study Example | Topics and Well Written Essays - 3500 words

London Zoo - Case Study Example However, to run a zoo is a very detailed and complicated business. There are directors, curator, zookeepers, veterinarians, landscapers and maintenance workers. This is only a few of the zoos employees because there are promotions, accountants, front desk, special services and a department to handle the volunteers. A zoo is a business like any other profit or non-profit organization and there are many details that must be considered when investigating the operations of a zoo. In fact, due to the nature of the wildlife kept in a zoo it entails many business and health regulations that many business never encounter. The following will include a Management Report of the London Zoo that will provide a comprehensive focus, for management, staff and customers of the zoo. It will focus on the needs of the customers that will give staff and management a perspective on the priorities of the customers needs and wants. In addition, it will enable them to develop and deliver a service operation to match the customer needs and priorities. It will offer suggestions and recommendations on how management and staff can reach this goal. The next portion of the report will examine the existing service concept of the London Zoo and make suggestions for improvement. It is important to understand what a service concept is and in order to do this one must think in terms of customer service. It is a concept usually set forth in a mission statement that improves the service and quality of the service in an organization. The goal of a service objective is to improve the existing customer service and efficiency of the service provided by an organization. In addition, the service concept continually is evaluated and any improvements that are necessary are made. According to Behn, a service concept is one of the most important decisions that management can make regarding the operation of their business. (2001) A service concept model can be derived just from London Zoo's mission statement. Their mission statement reads, "To achieve and promote the worldwide conservation of animals and their habitats" (London Zoo) Their statement seems to say so little but actually it says a lot. To promote the wildlife is actually a much larger endeavor than it sounds and to promote the habitats of these animals is also a paramount undertaking. Nonetheless, the mission statement does require some elaboration. The promotion will be included in the service concept model. As well the habitat of the animals must be included in the concept. If the promotion includes advertising animals in their habitats the Zoo is then responsible for replicating these habitats and that is not as easy as it sounds. It requires construction as well as the study of the environment that the animal's habitat is in and most significant, it requires resources. MISSION STATEMENT/SERVICE CONCEPT: The London Zoo does explain how they will pursue the goal. "The London Zoo pursues this mission by:keeping and presenting animals at London Zoo and in accordance with best practice;giving priority to species that are threatened in the wild;increasing public understanding of animals and their welfare and of the issues involved in their conservation;maintaining an outstanding education and information programme, particularly for schoolchildren and families;developing its role as a leading centre for research and conservation biology and animal

Value Chain Management Essay Example | Topics and Well Written Essays - 3500 words

Value Chain Management - Essay Example This can go a long way in providing sustainability and giving them economic independence. All this has basically been accomplished by outsourcing. Developed economies with their high quality of life and wage rates, are facing problems of producing profitably locally. This is also because many tax laws and limited raw materials make it impossible to remain competitive locally. With advent of faster communication system it becomes easy to control organizations from thousands of miles away. This also helps in establishing close links with the managers working in remote ventures. Another development which has made this trend towards globalization possible is WTO. The World Trade Organization encourages free trade among countries. Previously it was not possible to import unlimited amount of good from foreign countries. With the advent of WTO it has become possible to actually outsource because WTO has abolished the quota system. Therefore corporations try to outsource as much as possible from countries where there are high levels of human resources, raw materials and energy. This automatically helps developing nations to prosper because when corporations outsource they become part of a ‘value chain’. The addition made by them to this value chain gives them their share of the profit thus bringing them income prosperity. This phenomenon has given birth to a new form of economic entities called emerging markets. The current emerging markets include Brazil, India, China, Russia, Mexico etc. This globalization also has a dark side. It is also widely believed that globalization has increased income disparities at the global level. The smaller economic corporations operating from underdeveloped countries which lacked resources to go global have found it almost impossible to survive. Their small local markets have been attacked by global corporations. The corporations achieve significant cost advantages due to

Project Paper and Feasibility Paper Term Example | Topics and Well Written Essays - 1000 words

Project and Feasibility - Term Paper Example 30 Â  Greece 40.86% Source: http://data.worldbank.org/indicator/SL.TLF.TOTL.FE.ZS Table 3: Independent variable 2 Country Physicians/1,000 people 1 Â  Luxembourg 2.7 2 Â  Qatar 2.22 3 Â  Norway 3.1 4 Â  Switzerland 3.6 5 Â  Australia 2.5 6 Â  United Arab Emirates 2.02 7 Â  Denmark 2.9 8 Â  Sweden 3.3 9 Â  Canada 2.1 10 Â  Netherlands 1.4 11 Â  Austria 3.4 12 Â  Singapore 1.4 13 Â  Finland 2.6 14 Â  United States 2.3 15 Â  Ireland 2.79 16 Â  Belgium 3.9 17 Â  Japan 2 18 Â  Germany 3.4 19 Â  France 3.37 20 Â  Kuwait 1.53 21 Â  Iceland 3.62 22 Â  United Kingdom 2.2 23 Â  Brunei 1.01 24 Â  Italy 4.2 25 Â  New Zealand 2... 66,371 6 Â  United Arab Emirates 63,626 7 Â  Denmark 59,709 8 Â  Sweden 57,638 9 Â  Canada 50,496 10 Â  Netherlands 50,216 11 Â  Austria 49,688 12 Â  Singapore 49,271 13 Â  Finland 48,783 14 Â  United States 48,328 15 Â  Ireland 48,289 16 Â  Belgium 46,989 17 Â  Japan 45,870 18 Â  Germany 44,111 19 Â  France 44,007 20 Â  Kuwait 43,723 21 Â  Iceland 43,088 22 Â  United Kingdom 38,811 23 Â  Brunei 38,534 24 Â  Italy 36,267 25 Â  New Zealand 35,973 26 Â  Hong Kong 34,259 27 Â  Israel 32,351 28 Â  Spain 32,077 29 Â  Cyprus 28,670 30 Â  Greece 26,735 Source: World Development Indicators database (2011). Table 5: Independent variable 4 Country Urbanization Rate 1 Â  Luxembourg 1 2 Â  Qatar 2.2 3 Â  Norway 0.7 4 Â  Switzerland 1.7 5 Â  Australia 1.2 6 Â  United Arab Emirates 2.9 7 Â  Denmark 0.5 8 Â  Sweden 0.5 9 Â  Canada 1 10 Â  Netherlands 0.9 11 Â  Austria 0.7 12 Â  Singapore 1.2 13 Â  Finland 0.8 14 Â  United States 1.3 15 Â  Ireland 2.2 16 Â  B elgium 0.3 17 Â  Japan 0.2 18 Â  Germany 0.1 19 Â  France 0.8 20 Â  Kuwait 2.5 21 Â  Iceland 0.8 22 Â  United Kingdom 0.5 23 Â  Brunei 2.6 24 Â  Italy 0.4 25 Â  New Zealand 1 26 Â  Hong Kong 1 27 Â  Israel 1.7 28 Â  Spain 0.9 29 Â  Cyprus 1.3 30 Â  Greece 0.6 Source: World Development Indicators database (2010). Table 6: Independent variable 5 Country Life expectancy (Years) 1 Â  Luxembourg 78.7 2 Â  Qatar 75.6 3 Â  Norway 80.2 4 Â  Switzerland 76.3 5 Â  Australia 81.2 6 Â  United Arab Emirates 78.7 7 Â  Denmark 78.3 8 Â  Sweden 80.9 9 Â  Canada 80.7 10 Â  Netherlands 79.8 11 Â  Austria 79.8 12 Â  Singapore 81 13 Â  Finland 79.3 14 Â  United States 78.2 15 Â  Ireland 78.9 16 Â  Belgium 79.4 17 Â  Japan 82.7 18 Â  Germany 79.4 19 Â  France 76.4 20 Â  Kuwait 77.6 21 Â  Iceland 81.8 22 Â  United Kingdom 80.1 23 Â  Brunei 77.1 24 Â  Italy 82 25 Â  New Zealand 80.2 26 Â  Hong Kong 82.2 27 Â  Israel 82 28 Â  Spain

Stop & Frisk Essay Example for Free

Stop Frisk Essay I am aware that here in New York we are surrounded by all types of people and of all cultures and races but why if this is so and we have our Constitution as it is written do we have to deal with this Stop and Frisk situation. I believe this is an invasion of space and privacy and that this violates our rights as citizens of this country. The Stop and frisk program is being done by the New York Police Department. They are stopping thousands of people and are searching for contraband and weapons. This type of searches happens when police see a suspicious person trying to commit a crime, so they stopped them before it happens. The police frisk the person which means they pat them down; they search for weapons and then begin to ask the person questions. Which I believe invades our rights as citizens and makes people feel picked on and the first thing that I can think of as a human being is why me? I understand that they have a description but they should have better guidelines regarding this matter because there are a lot of people who they stop which are innocent. I can understand when it is said that is it is used because the stops and frisks are greatly less invasive than full-blown arrests and searches, and that it is a shorter process instead of being booked and taken to the police precinct rather than just searched and if the person has nothing then they may go free, but if the officer gets further evidence during the frisk, the stop may lead to an arrest. But it should have more specific information because every Hispanic and Black person will always have a resemblance with each other. The NYPD’s while doing this they raise a lot of concerns and especially it is being seen as racial profiling and it is and invasion of privacy.

Cross-cultural Communication and Marketing of Museums

Cross-cultural Communication and Marketing of Museums Museum is a place for leisure, education and protection of global civilizations. It is an important public service sector and tourism attraction. As an NPO (Non-Profit Organization), how it play in the context of globalization is an interesting and worth studying subject. Therefore, in this report, it will discuss the cross-cultural communication and marketing of the international museums in London. How the Science Museum and Victoria Albert Museum perform in the background of globalisation will emphasis on how to attract diversified needs and improve service quality. The study will come out with some implications, through analysis of the observation held in the museum. Research was carried out in the forms of data collection. It randomly picked up the issues the visitors encountered while visiting the museum, by using the problem-oriented approach. This approach indeed added a lot of fun in my research, on one hand. A case in point, I saw an elder woman, who pushed a baby carriage, was wandering in a channel. In the beginning, I thought she had some problems and was in need for help, I stepped forward to ask her, and humorously was told that she just wanted to make her grandchildren sleeping. On the other hand, it is an effective, stimulated and enjoyable approach, so that I was encountered in the process. Later, I will describe four special events that meaningful for me and for this observation of globalization. The first thing happened in a gallery of jewellery and other ornaments in the Victoria and Albert Museum, I met a Chinese tourist who was going to take a photo of a pair of sword. At that moment, an administrator blocked him. I went to talk to the man immediately and discovered that he just could not help to photograph the precise sword. In addition, he also mentioned that although the majority of the exhibits in this museum allow photographing, but there is still a small part of non-photos area. However, which are specific non-photos areas, he was not very clear, but he believed that there must have some reminder in those areas and if inappropriate, the administrator will told him. So he did not care about the rules and regulations of the museum, which is not a big deal for him and do not want to spare some time to note down these regulations. The second incident occurred during my visit to a Chinese art exhibition. It is about the understanding of a French visitor towards a Chinese collection ?C a statue of. The tourist asked me about the history of this person, who is admired by most of the Chinese. When I was talking about the public faith of Kuan Kung as the God of Wealth in China, he interrupted me and said that this belief is very interesting. Then he explains his opinion that people need to success by themselves, but not ask for god for help and he also doubt that this was why Chinese doing business through Guanxi made sense. After this, we kept going on this topic. The third thing is about a Japanese mother and her daughter in Science Museum. They are living in London for couple of years. This time, she planned to take her daughter to practice zone, named Launchpad to play a game called the Big Machine. Many people were there and every parts of the game were occupied. She said that she used to bringing her daughter to the Science Museum because children can practice the knowledge there, but every time they just enjoyed one or two parts of the game. Luckily, she said, today we play the four parts of the game and this is due to a very kind American parent who let us play after noticing that we are waiting for a long time. I ask her that why she did not grasp opportunity by them. The explanations she gives to me are impressive. The first one is, in her opinion, she did not want to disturb someone enjoying the game. Second she said that the child is too shame to play with others, she is now seven 7 years old. Finally, she said they had time to visi t this museum, so she did not worry about any chance to practice. The last one, it is very simple, but worth for analysis. It is an Australia woman. She came to me and asked me for the time. After I told her, she complain that the root design and layout of the exhibition in the Science Museum are so bad that she cannot use time efficiency and missed many collections. It is a pity for the tourist. Although there exist the anti-globalization voices, such as German Martin and Schumanns (1996) The Global Trap, the British author Alan Rugmans (2001) the end of globalization, , for now, Globalization is an indisputable fact and continually affects everyones daily lives. As Held and McGrew (2000) emphasized that globalization is currently does not have a universally accepted definition by the world. In the past, the globalization is far more defined as the formation of the global market, where the goods, technology, services; capital can flow and trade freely in the world (Theodre Levitt, 1985). However, the results of theoretical research on the current point of view, this is only part of globalization. From Roland Robertson (1992), has started to pay attention to the broader implication of globalization. That is globalization is a set of globalization among economic, political, cultural, technological and other processes. Here we will focus on cultural globalization, and some of the theories on cross-cultural communication and marketing. Giddens and others transformationlists (2001) thought that globalization is a comprehensive process of development and the economic globalization is bound to lead to the globalization of culture and value. Along with the acceleration of globalization, the impact of globalization on culture has also been keen to explore by scholars. The first understanding believes that cultural globalization is the formation of a common or a single culture, which can be described as a cultural homogeneity (Stephan Dahl,). They explored that cultural globalization refers to mutual penetration, absorption of the worldwide different lifestyles, consumption patterns, ideas, and awareness, thus the development of culture will show the trend of homogenization. The second major theory insists that cultural globalization is the parallel process of homogenization and heterogeneous, or the dialectic of globalization and localization in parallel (). The third main study directly denies the existence of cultural globalization. Samuel Huntington () is an important critics of globalization discourse. He made his famous clash of civilizations theory, which Demonstrate the development of world history will strengthen the differences and conflicts between civilizations. Throughout these theoretical insights, in line with materialistic point of view, cultural globalization is inevitable. Moreover, in reality, we can find the subtle changes are taking place in the worlds civilizations, whatever the western or oriental. (David Herder, 2001). Therefore, this cultural is still diversified in the context of globalization. Cross-cultural communication and marketing of an organization will determine whether it is able to compete in the global market to survive. Cross-cultural communication is to study how people from different cultural backgrounds communicate effectively with each other through language, behaviour, etc. (Cross-cultural communication, 2008). Cross-cultural communication involves a lot of the edge of disciplines, including psychology, ethnology, culture and science. Cross-cultural communication theories are the mainly base on theories that study difference between the values of the culture. These theories include the Geert Hofstedes (2001) five dimensions of culture, Fons Trompenaars and Charles Hampden-Turners seven dimensions culture model. The following will be further elaborated in Fons Trompenaars models, combined with the investigation to analyse how museums manage and market in cross-cultural environment , both of the achievements and shortcomings, through our investigation, although very simple and not comprehensive. First of all, will be a brief introduction of Trompenaars model(). This model, like other onions model studies the culture by dividing into seven dimensions. Five dimensions of them are reflecting how people interact with each other. The first dimension is Universalism versus Particularism(). Universalism is more emphasis on the importance of the rules and regulation system. As described in his book, Americans do not tend to lie when disobey the regulation or rules. The second is Individualism versus Collectivism, which show whether the relationship between the individual and the collective is an Isolationism, or collectivism. The next is Neutral vs. Emotional expression is a measure of whether the emotion is naturally revealed. The fourth one is the Specific versus Diffuse. These are being considered when weighing the participation and responsibility of individuals in the organization. The fifth is the recognition of the position, named Achievement versus Ascription. Trompenaars arg ues that some people believe the position embody the personal contributions, but not your organization. In other words, they measure the loyalty towards organization. The last but one is a Sequential versus Synchronic, mainly to reflect the concept of time of the different cultures. The last one is Internal versus External Orientation, which are to examine the different cultural attitudes on the external environment. There are two arguments, some think that people are controlled by environment, while the others insist human being Dominate the environment. These seven dimensions are well defined and being used to analyse how cultural differences in the museum. However, there is a need to introduce one management framework to help us figure out some implications from the cross-cultural analysis. Therefore, we would also like to use SERVQUAL theory() to study customer perceptions of service quality in the museum. SERVQUAL is based on the theory of total quality management theory and puts forward in the service industry. The core of this new service quality evaluation system is the Service Quality Model or 5GAP model. Firstly, SERVQUAL divides service quality into five levels: physical Tangibles, Reliability, Responsiveness, Assurance, Empathy, including total 22 small questions. The method used to analyse is to measure the gap between customer perception and expectation. Whereby, the company need to fix up the other four gaps ,which are less understanding of the customers expectation, wrong service design and standards, failure to standards of service delivery, not match between service performance and service promise. While some reviews on the theory argue, it needs for appropriate modifications when applied in cross-cultural study (Smith Reynolds, 2002), nevertheless, beca use of time and a limited extent to research, we will still stick to the original theory. The first step of analysis will focus on the customers cultural differences. From the above, it suggests that the cultural differences still exist, as the transformation theory argues. However, following the Trompenaars model, we can examine these differences specifically. Above all, the photograph incident indicates that the Western view on rules and regulations are different from the oriental. As usual, most Western tourists have not the habit of taking pictures in the museum. This is because of their awareness of the requirements in the museum in one hand, in the other hand, that they pay more attention to understand the exhibits, rather than simply to mark the travel. Of course, we cannot judge the person who take photos in the museum is fault, but it did tell us that how different values and norms conveyed by different persons. The Chinese tend to disregard the rules, although he knew. In the meantime, there are many other tourists spend some time looking through the maps and rules in the brochure. This is somehow referring to the first dimension that Trompenaars said whether to obey the rules. Easily, the query of the French visitor that I met in the Chinese gallery, make me feel uncomfortable. However, it can refer to the fifth dimension and reveal the distinction between west and east towards personal achievement and the environment. The French person, represent the West, prefer to success by his own effort, but not the god. We can say westerners are more pragmatic and rational. In other words, Chinese rely more on the external environment, while westerners desire to control the environment much more. Followed by, the Japanese mothers shyness is unlike the West, where the parents who can speak calmly of ideas, more open and proactive. This is about the personal liberty. The westerners used to and dare to express their ideas, because in their opinion, everyone is equal to the world, besides the game in the museum. Yet, the mother did not think by this way, she was worry about the others or maybe avoid some risks that disobey their norms. As cite in the model, the mother is more neutral than the American parent is. Eventually, the Australian woman seems to care about the quality of her visit and hope herself has enough time to look around and explore more about the exhibits. Unfortunately, she did not make it. As she complained, she does not like the open form of display in the museum, especially the large museum. She even regards this as time consuming. We can suggest that she takes time serious and tend to not to do one thing at one time. As indicated in the VA Report on Cultural Diversity 2007() , the manager has insight the trend that more BAME(Black, Asian Minority Ethnic) background audience visit the museum(, but there is little forces on impact on service quality by the cultural differences, even more there is no reports for 2008 and 2009. Recommended by the SERVQUAL model, that can offer some implication on five fields. For one thing, the museum needs to make more effort on tangible aspect, to avoid the irregularities. For example, Rules need to be modifying in a clear and well delivering and more clear signs are demanded, too. This not only makes the visiting smoothly for visitors, but also protects the heritage in the museum. To accommodate the customers who are not emotional, there is better to employ some advisors or rules in the practice zone. In addition, it can use some systems, like booking system for this kind of customers to book in advanced or when entry. This will assure the customer right to enjoy the facilities in the museum. Many of tourist use no more than one day to look around in the museum, this is a pity for them. How to make up this perception difference of service quality is worth analysis. In China, museums prefer to make some valuable roots for visitors, this will save time and value for custom ers. This is related to the reliability of the service, because if the visitor can not well experience the service, or the exhibitions provided by museum, that means the museum has neglect its aim due to responsible for its own loss and profit. To conclude, this is just a small observation in museum. The result turns out without enough supportive evidence is a disadvantage of this paper. Over all, it is beneficial to discuss about how a NPO, as well as the public sector to face the globalization, especially manage in the cross-cultural environment. Reference Iris V. and Linds B. (2000) Intercultural Business Communication in the Global Workplace (second edition). McGraw-Hill Stephan Dahl () Communications and Culture Transformation Benjamin Barbers McWorld vs. Jihad Finola Kerrigan, Peter Fraser, Mustafa Ozbilgin (2004) Arts Marketing Butterworth-Heinemann Alan M. Rugman (2001) The End of Globalization: What it means for Business (Paperback). 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