The Hunger Games By Suzanne Collins - 2032 Words

The Hunger Games is a book trilogy that was turned into a movie series. The Hunger Games, Catching Fire, and Mockingjay are a part of the original book trilogy written by Suzanne Collins. The books quickly became an extremely popular hit, and they were turned into a mainstream movie series franchise. The movies based off the popular books are The Hunger Games, Catching Fire, Mockingjay Part 1, and Mockingjay Part 2. â€Å"With more than 26 million books sold and box office receipts grossing $68.3 million on the opening day of the film adaptation of the first novel, this post-apocalyptic, dystopian series clearly appeals to a wide audience that is not limited to a specific age, group or gender† (Simmons). The Hunger Games Series is phenomenally written, as it tells the remarkable story of a contrasting world, controlling government, an unlikely love triangle, and the hope and pain that comes along with a potent symbol of freedom. The Hunger Games series is situated in a highly contrasting world called Panem. It was establish during the post-apocalyptic world and is located in the remains of North America. It is split up into 13 nation states, called districts, only 12 of which are recognized by the Capitol, who control all of Panem. The 13th District was obliterated during The Dark Days, which was caused by a rebellion. Each district is known for what they manufacture or produce. The wealthiest is the Capitol, they are superior to all the districts because they control Panem.Show MoreRelatedThe Hunger Games By Suzanne Collins3246 Words   |  13 PagesStudy Unit The Hunger Games by Suzanne Collins and Steven Galloway’s The Cellist of Sarajevo demonstrates the way in which people are affected by war, and a brutal dictatorship. The authors illustrates the main purpose for writing their novel through the use of imagery, characterization, foreshadowing, flashback, similes, and symbolism. Suzanne Collins and Steven Galloway use imagery and characterization to vividly describe the effects and outcomes of war and dictatorship. Suzanne Collins portrays,Read MoreThe Hunger Games By Suzanne Collins1352 Words   |  6 PagesThe movie or the book the Hunger Games came out with a bang when it first hit theaters or the shelves of the bookstores. It was dubbed as one of the best films or books to read, interestingly enough it was a remake of the stories or myths most people heard when they were younger, but modernized and turned into a collage of all the best roman and Greek stories. Suzanne Collins brilliantly combined the Greek and Roman influences to make the movie/book unforgettable. By using stories from the romansRead MoreThe Hunger Games By Suzanne Collin899 Words   |  4 Pages Suzanne Collin’s â€Å"Hunger Games† seems to be about a dystopian society struggle to become a utopia. However, when the readers read further in to the book or watches the movie one can see that is about all the characters that make use human. As human, we feel the need to build an ethical framework based on our needs for authority rather than tradition. The Capitol in the Hunger Games exploits human needs to keep authority in place. After rising seas and poverty consumed much of the land, the CapitolRead MoreThe Hunger Games By Suzanne Collins1419 Words   |  6 Pagesemotional atmosphere within a dystopian state, there exists an absence of feeling which competes for dominance. Suzanne Collins’ demonstrates this competing apathetic mood in her novel, The Hunger Games, through the citizens of the divided dystopia of Panem. This essay will analyze the origins and influence of apathy on a people and an individual, in both a political and personal sense. Collins’ main argument, that citizens’ facing governmental oppression can either become compliant with apathy, or, insteadRead MoreThe Hunger Games By Suzanne Collins854 Words   |  4 PagesIn a place where poverty is prevalent and a country is ruled b y a tyrannical dictator is it possible for an individual to trust others when their own life is always at stake? In the book The Hunger Games by Suzanne Collins, the main character Katniss Everdeen is a survivor. In the novel she is put into an arena to compete against twenty-three other tributes to the death. This is not the only time during which she has to fend for herself; at home she had to care for her family and keep them aliveRead MoreThe Hunger Games by Suzanne Collins710 Words   |  3 Pages‘’The hunger games’’ is a novel written by Suzanne Collins, published in 2008. The genre of the book is thriller/survival, and is written over 27 chapters with 454 pages. In this analysis, I will tell you about how the main character Katniss changes through the novel, and tell you a little about the central characters that plays an important role for her. ‘’The Hunger Games’’, is set in the future in the country Panem, and is about the sixteen-year-old girl, Katniss Everdeen. Panem is divided intoRead MoreThe Hunger Games By Suzanne Collins986 Words   |  4 PagesThe Hunger Games by Suzanne Collins is about a sixteen year old girl named Katniss and how she needs to fight for her life. The Hunger Games takes place in an arena in the Capitol of Panem. There are 24 tributes, two from each District. The games were created to punish the Twelve Districts for trying to create an uprising against the Capitol. Suzanne Collins book could be compared to the United States and how people obsess with the way they look, discrimination is still occurring, and how the governmentRead MoreThe Hunger Games By Suzanne Collins3514 Words   |  15 PagesThe Hunger Games is a science fiction, dystopian post-apocalyptic series that takes place in a futuristic North American nation called Panem. The film series is based on the nov el series of the same title written by Suzanne Collins. Many who watch the films view them as an action-packed adventure series, but The Hunger Games, like many other dystopian films, feature social and political subjects that relate back to past and present culture. Dystopian films like the Hunger Games provide messages,Read MoreThe Hunger Games By Suzanne Collins1487 Words   |  6 PagesMy first text is The Hunger Games which is written by Suzanne Collins and it was written in September 14 2008; was set in the future, around the year 2087. My second text which is 1984, which is written by George Orwell and was written on Wednesday June 8 1949 and it was set in 1948. There are many themes in the book hunger games such as ‘the inequality between rich and poor’, ‘suffering as environment’ and ‘the importance of appearances’. In 1984 there is also many themes portrayed such as ‘theRead MoreThe Hunger Games By Suzanne Collins2436 Words   |  10 PagesThe Hunger Games is a science fiction and adventure film, based on the novel written by Suzanne Collins, which explores concepts of Marxism and numerous aspects of its principles through the dystopian world of Panem. The Hunger Games follows Marxist theories on bourgeoisie and proletariat class structure as well as capitalist production and the distribution of good. Thelma and Louise, a 1991 film directed by Ridley Scott, is often referred to by critics as â€Å"the ultimate feminist film†. This film

The Theory Of Keynesian Economics - 916 Words

Introduction During the Great Depression in the 1930’s â€Å"classical theory had difficulty in explaining why the depression kept getting worse† (Cheung, n.d., para. 1). Many economists have attempted to develop theories that help to explain changing circumstances and why things kept getting worse. John Maynard Keynes, a British economist also known as the founder of macroeconomics, saw this as an opportunity and began to develop alternative ideas. His alternative ideas led to the idea of Keynesian economics. What is Keynesian Economics? Keynesian economics was used to manage the economy for roughly forty years until around 1970. â€Å"The main plank of Keynes’s theory, which has come to bear his name, is the asser-tion that aggregate†¦show more content†¦3). In order for there to be full employment or lower unemployment rates the demand of goods needed to remain constant. In order for demand to increase it had to come from the economy’s output of goods and services. â€Å"An economy’s output of goods and services is the sum of four components: consumption, investment, government purchases, and net exports (the difference between what a country sells to and buys from foreign countries)† (Jahan et al., 2014, para. 4). If savings was more than that of investments, there would be inflation. On the other hand, Keynes stated that if more went into investments than savings there would be a recession in the economy. This would mean that consumers would spend less, causing businesses to invest less in the market. Other well-known economist, such as Adam Smith who felt that government should play no role in the market, Keynes felt that state intervention was the solution to this problem. According to Keynes, state intervention was necessary to â€Å"moderate the booms and busts in e co-nomic activity, otherwise known as the business cycle† (Jahan et al., 2014, para. 4). Keynesian felt that state intervention would promote full employment and price stability and more specifi-cally, â€Å"governments should borrow money and boost demand by pushing the money into the economy. Once the economy recovered, and was expanding again, governments should pay back the loans† (John

APES 110 Code of Ethics for Professional Accountants. Assume

Question: Discuss about the Ethics for Professional Accountants Assume. Answer: Situation 1 It may seem that Section 120-1, APES 110 may be violated but on close scrutiny it becomes clear that there is not violation of the code. This is because it is highly likely that the two investors in the limited company may not be aware of each other. As a result, there is no conflict of interest since there seems be no relation between the business interest of Able and Marshall. Hence, Able can continue to provide audit services to Marshalls company without any loss of independence. Situation 2 As per the relevant details, Baker offers to the new client a proposal by which the taxpayer could pay a substantial amount of tax in the previous year tax filings. This aspect has been overlooked by the client but Baker demands a 50% of the total tax saving as fee for this which is agreed to the by the client. Clearly, the behaviour of Baker is in violation of professional behaviour in line with section 150. Additionally, it is imperative that the member must not be overly driven by fees which are being violated here as the model guidelines for fees charged for the services provided as highlighted in Section 240 of the APES ethics code are not being followed. The firm must have internal policies with regards to the fees specifying the maximum fee chargeable which would act as a safeguard in the given condition (APES, 2010). Situation 3 As per, Section 150-2, the members while marketing and promoting themselves must not make tall claims about the services and prices which cannot be verified. However, Contel releases an advertisement in the newspapers promoting the services offered by claiming that his firm is engaged with the largest 6-8 financial firms with regards to offering audit services and also makes claims about the average audit fee charged by the firm to be lowest in the city. Clearly, these claims can be verified objectively and assuming these claims are true, there is no violation of APES 110 code (APES, 2010). Situation 4 In order to avoid loss of objectivity and conflict of interest, it is advisable that public accountants do not engage in any particular business that does not go well with the professional services that they may offer. In the given case, even though Tan also has a loan business while offering professional services, but still there is no conflict of interest as Tan does spend any time with the loan business and also there is segregation of staff members (APES, 2010). Situation 5 Since Elbert has not realized that the mutual fund company in which she owns substantial shares has increased their investment in the largest audit client of hers, hence there would be threat to the independence of the auditor i.e.Elbert and thus leads to violation of 120-1 of APES ethics code. This is because there is a potent conflict on interest in the given case since during the audit if there are irregularities and Elbert gives a qualified remark in the audit report, then the stock price of the company would tumble which would have adverse effect on the valuation of Elberts share in the mutual fund company whose valuation would also go down. Thus, it is highly likely that Elbert in the given case would issue a unqualified audit report. Hence, Elbert should be required to make an undertaking that she does not have any direct or indirect ownership in the company to avoid the conflict of interest and hence act as a safeguard to prevent the situation from arising (APES, 2010). Situation 6 In the given situation, there is the threat of self review and familiarity in accordance with Section 200 of APES 110 code which tends to result in compromised actual independence. This is because Finigan is not only acting as the auditor but also as the offer book keeping services and tax return. Additionally, she seems to have a very close relation with the client which leads to the violation of Section 120-1 of the APES ethics code. In this case, there is a possibility that audit risk is high especially the detection risk since Finigan would audit the financial statements and other records prepared under her own guidance.In this regard, the audit firm should have a strict internal policy whereby the same person should not be responsible for providing both auditing and accounting services thus acting as a safeguard in such situations (APES, 2010). References APES (2010), APES 110 Code of Ethics for Professional Accountants, APESB Website, [Online] Available at https://www.apesb.org.au/uploads/standards/apesb_standards/standard1.pdf [Accessed April 27, 2017]

Professional Communication Strategies and Technologies

Question: Discuss about the Professional Communicationfor Strategies and Technologies. Answer: Introduction Professional communication is defined as the different forms of speaking, listening, writing and giving responses which happen both in and beyond the workplace context. It may be either in person or electronically. Therefore, the professional communicators are expected to employ learning theory, strategies, and technologies to promote effective communication in their respective work settings. On the other hand, patient safety is the fundamental principle of health care that seeks to prevent any form of errors and adverse effects associated with medical practices which may be caused to patients. It involves actions persons and organizations to protect recipients from being harmed (Levetti, 2013). Patient safety encompasses physical, psychological, cultural and emotional security. This papers center of interest is to comprehensively discuss the significance of professional communication in ensuring patient safety. Importance of Professional Communication in Promoting Patient Safety The majority of health professionals presume that efficient communication only implies giving patients unambiguous and clear information in an appropriate manner. Although this notion is true, it is important to understand that communication entails listening and talking. The healthcare practitioners are less likely to make wrong conclusions when they listen to patients (Levett, 2013). A survey that was conducted on Australian patients and their families showed in 2006 regarding the benefits of effective communication revealed several outcomes. They include the reduction in stress and anxiety levels, an evident relationship between efficient communication and compliance with medication as well as programs on reliability, enhanced management of pain, improved mood and self-esteem management. Other benefits that were discovered are increased functional and psychological status, reduced length of hospital admission, improved symptom resolution, better coordination of care, reduced surgi cal deaths and post-operative shortcomings, reduction in costs, enhanced well-being and satisfaction of patients, error reduction and refined patient safety. Patient- Safe Communication The healthcare professional are always encouraged to use the patient-safe communication model that is a goal-oriented practice aimed at alleviating undesired events and assisting patients to obtain optimal end results. All aspects relating to patient care are pre-determined by how well the health care practitioners communicate amongst themselves as well as the patient they care (Levett, 2013). Therefore, clinical decisions grounded on misinterpreted or incomplete information are bound to inappropriate thus causing harm and distress to patients. For instance, it can lead to anger, hostility, and confusion, lack of trust, misunderstanding, and increased risk of error, poor compliance, and patient harm. Unsafe communication by health professionals is regarded as a breach of professional standards and may be informed of failure to monitor patient confidentiality and failure to respond well to questions among others. It is important to use an inter-professional collaborative approach (Lev itt,2013). It facilitates the structuring of care that is person-centered. It would help healthcare professionals to reinforce and accolade their services hence to desist from duplications and omissions in designing and coordinating care. One of its important aspects is patient-centered care that is based on the understanding that patients bring their skills, knowledge, and experiences about their condition and illness. It is crucial for the health practitioners to be open-minded, ethical, self-aware and have the strong sense of personal responsibility for action. Documenting Care It is regarded as a means of communication in the healthcare setting. It involves preparing an electronically generated or written legal record of interactions between health caregivers and patients at all levels of care which include identifying health problems, assessing, formulating, implementing and evaluating care (Hall, 2016). Management Information Systems (MIS) should be used to serve as legal records, facilitate patient care, assist in clinical research and enable decision making. It facilitates the delivery of the most efficient, valuable and cost-effective quality care to patients. Therefore, proper utilization of the most current forms, systems and documents are required to prevent any errors in care delivery. Provision of electronic health record (EHR) assists in tracking patient's progress and care thus allowing for access to more efficient care through the collection of high quality data meant for policy development and allocation of resources. For instance, electronic health records promote efficiencies in the healthcare system (Hall, 2 016). Inter-professional education (IPF) is perceived to be critical in health care as a means of enhancing patient-centered quality services and safety (Birk, 2017). There are several principles which promote better health care patient-oriented practice. They include accountability, responsibility, communication, coordination, mutual trust, cooperation and respect and contribute to patient safety (Van, 2009). There is a wealth of research information that upholds the benefits associated with efficient communication and healthcare outcomes for clinical teams and patients ("Impact of disclosure in healthcare" 2017). It is believed that the link a patient experiences with his or her clinician can primarily enhance their health arbitrated through participation in their care, patient self-management and adherence to treatment. Proper communication enables hospitalized patients to identify their diagnosis or the medication (s) names at discharge. Research conducted has revealed that ineffective team communication is the primary cause of medical errors ("Impact of disclosure in healthcare" 2017). The vulnerability of medical error rises when health care team members are in high-task situations, under stress and when communicating unclearly. High positive relations between communication skills of healthcare practitioners and patients ability to adhere to medical recommendations and adopt preventive health behavior is evident. Various studies manifest that the clinician's ability to describe, listen and empathize with can have a significant effect on functional and biological health outcomes, the experience of care and patient satisfaction ("Impact of communication in healthcare," 2017). Poor communication among clinical members is a common cause of clinical errors (Patel et at, 2014). Disclosure through commu nication decreases patient frustration and anger especially over perceived lack of empathy from caregivers and lack of information. Sharing crucial data promotes the safety of patients and reduces the cost, frequency and patient suffering related to adverse events (Robert et at, 2010). The majority of reported malpractice claims attribute to a breakdown in communication between a healthcare professional and patient. Conclusion Professional communication in the context of healthcare has had some setbacks. However, its benefits about patient safety cannot be underestimated. References Birk, T. (2017). Principles for Developing an Interprofessional Education Curriculum in a Healthcare Program. Journal of Healthcare Communications, 02(01). (2017). Retrieved 7 April 2017, from https://healthcarecomm.org/about-us/impact-of-communication-in-healthcare Hall, H. H. R. T. C. (2016). Fundamentals of Nursing and Midwifery. : Wolters Kluwer Health. Retrieved from: https://www.ebrary.com. In Patel, V. L., In Kaufman, D. R., In Cohen, T. (2014).Cognitive informatics in health and biomedicine: Case studies on critical care, complexity, and errors. Levett-Jones, T. (2013). Critical Conversations for Patient Safety. : Pearson Australia. Retrieved from: https://www.ebrary.com. Nemeth, C. P. (2008).Improving healthcare team communication: Building on lessons from aviation and aerospace. Aldershot, England: Ashgate. Robert, D. T, David, M. B, Judith, A.J, Thomas, H. G, Talking with Patients and Families about Medical Error:A Guide for Education and Practice Van, S. G. M. (2009).Communication skills for the health care professional: Concepts, practice, and evidence. Sudbury, Mass: Jones and Bartlett Publishers.

Financial Management Strategies for Retail Industry in India-a Case Study of Retail Scenario in Hyderabad and Secunderabad free essay sample

FINANCIAL MANAGEMENT STRATEGIES FOR CORPORATE RETAIL INDUSTRY IN INDIA-A CASE STUDY OF RETAIL SCENARIO IN HYDERABAD AND SECUNDERABAD SYNOPSIS IINTRODUCTION: (1) Retail Industry in India The Indian retail industry is the largest among all the industries, accounting for over 10 per cent of the country’s GDP and around 8 per cent of the employment. The retail industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are required to break even and compete with other companies. The Indian retail industry is gradually inching its way towards becoming the next boom industry. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key factors in the booming growth of the organized retail sector in India. We will write a custom essay sample on Financial Management Strategies for Retail Industry in India-a Case Study of Retail Scenario in Hyderabad and Secunderabad or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The growth pattern in organized retailing and in the consumption made by the Indian population will follow a rising graph helping the newer businessmen to enter the Indian retail industry. In India the vast middle class and its almost untapped retail market are the key attractive forces for global retail giants wanting to enter into newer markets, which in turn will help the retail industry in India to grow faster. As per a McKinsey report, Indias overall retail sector is expected to rise to US$ 833 billion by 2013 and to US$ 1. trillion by 2018, at a compound annual growth rate (CAGR) of 10 per cent. As a democratic country with high growth rates, consumer spending has risen sharply as the youth population (more than 33 percent of the country is below the age of 15) has seen a significant increase in its disposable income. Consumer spending rose an impressive 75 per cent in the past four years alone. Also, organised retail, which accounts for almost 5 per cent of the market, is exp ected to grow at a CAGR of 40 per cent from US$ 20 billion in 2007 to US$ 107 billion by 2013. According to the Investment Commission of India, the overall retail market is expected to grow from US$ 262 billion to about US$ 1065 billion by 2016, with organised retail at US$ 165 billion (approximately 15. 5 per cent of total retail sales). India is expected to be among the top 5 retail markets in the world in 10 years. The future of the retail industry in India looks promising with the growing of the market, with the government policies becoming more favorable and the emerging technologies facilitating better operational efficiencies.. (2) Retail Scenario in Hyderabad and Secunderabad Retail forms a large part of the business sector in Hyderabad and Secunderabad both in terms of establishments and employment . The burgeoning retail outlets in Hyderabad and Secunderabad are evidence of the immense potential that these twin cities offer for business. The emergence of Hyderabad as the preferred destination for the IT and ITES industry in recent times has brought with itself the cascading effect on other industries like retail and real estate. Big corporates like the Mukesh Ambani led Reliance Industries, the Kishore Biyani led Future group etc. ave made substantial investements and are ready to invest more in the Hyderabad retail industry. The retailing industry in Hyderabad has come into big Shopping Malls, and huge departmental stores and retail chains like Big Bazaar, Shopper Stop, and Metro, Hyper Mart etc.. The employment opportunities in Hyderabad retail are highly increased, and have good financial rewards also. In the next two years thousands of jobs will be generated in this sector. Innovative retail formats like Integrated retailing, retail cum entertainment is booming at a great pace in the Hyderabad city, e. . , Big Bazar combines with Big Cinemas, Hyderabad Central with PVR Cinemas and GVK Mall with INOX etc. Overall, the Hyderabad retail business sector has large opportunities for prospective business houses. With the retail sector generating fair profits in Hyderabad and Secunderabad, it would be beneficial for investors to tap it exactly in the manner in which they want. (3) Impact of the Retail Industry on the social and economic environment The boom in the Indian retail sector has impacted a change in the lifestyle of the Indian consumers drastically. The evident ncrease in consumerist activity is colossal and this has already created a money making recess for the Indian organized retail sector. What’s more, this growth trend in retail industry in India is not just a steady one but also one that is displaying exponentia l characteristics. With the onset of a globalized economy in India, the Indian consumers psyche has been changed. People have become aware of the value of money. Nowadays the Indian consumers are well versed with the concepts about quality of products and services. These demands are the visible impacts of the Indian organized retail sector. The social changes with the rapid economic growth due to trained personnel, fast modernization, enhanced availableness of retail space are the positive effects of liberalization. The growth factors of organized retail in India are:- †¢Increase in per capita income which in turn increases the household consumption †¢Demographical changes and improvements in the standard of living †¢Change in patterns of consumption and availability of low-cost consumer credit †¢Improvements in infrastructure and enhanced availability of retail space †¢Entry to various sources of financing The non-food sector, segments comprising apparel, accessories, fashion, lifestyle products felt the significant change with the emergence of new stores formats like convenience stores, mini marts, mini supermarkets, large supermarkets, and hyper marts. Even food retailing has become an important retail business in the national arena, with large format retail stores, establishing stores all over India.. India will be a unique business arena in the whole of the global economy, for the social and economic parameters that would overrule the big bang of the vivid competition. (4) Financial Management Taking a commercial business as the most common organisational structure, the key objectives of financial management would be to: †¢ Create wealth for the business †¢ Generate cash, and †¢ Provide an adequate return on investment bearing in mind the risks that the business is taking and the resources invested. There are three key elements to the process of financial management: (a) Financial Planning Management needs to ensure that enough funding is available at the right time to meet the needs of the business. In the short term, funding may be needed to invest in equipment and stocks, pay employees and fund sales made on credit. In the medium and long term, funding may be required for significant additions to the productive capacity of the business or to make acquisitions. (b) Financial Control Financial control is a critically important activity to help the business ensure that the business is meeting its objectives. Financial control addresses questions such as: †¢ Are assets being used efficiently? †¢ Are the business’ assets secure? †¢ Does management act in the best interest of shareholders and in accordance with business rules? (c) Financial Decision-making The key aspects of financial decision-making relate to investment, financing and dividends: †¢ Investments must be financed in some way – however there are always financing alternatives that can be considered. For example it is possible to raise finance from selling new shares, borrowing from banks or taking credit from suppliers †¢ A key financing decision is whether profits earned by the business should be retained rather than distributed to shareholders via dividends. If dividends are too high, the business may be starved of funding to reinvest in growing revenues and profits further. Finance which acts as the lifeblood in the modern business types is one of the most important considerations for an entrepreneur-company. While implementing, expanding, diversifying, modernizing or rehabilitating any project the meaning of finance is better understood. From an organizational point of view, the process of financial management is associated with financial planning and financial control. Financial planning seeks to quantify various financial resources available and plan the size and timing of expenditures. Financial control refers to monitoring cash flow. Inflow is he amount of money coming into a particular company, while outflow is a record of the expenditure being made by the company. Managing this movement of funds in relation to the budget is essential for a business FINANCIAL MANAGEMENT AND THE RETAIL INDUSTRY Financial performance is vital to competitive success. It is a factor that can either enhance the competitive standing of the company or lead it to destruct ion. Businesses are ultimately judged on their ability to perform financially. Domestic growth, international expansion, strategic repositioning, are the strategic decisions to be taken. But each of these is punctuated by the need to generate corresponding financial returns. Understanding the drivers of financial performance, their roots, and causes is a must for sound retail management. As retailing is an intensely cash generative business, an important characteristic of any retail operation is the ability to recycle cash received from sales. Generally in any cash conversion cycle, the interaction between the three components of cash tied up in inventory, cash tied up in receivables and payables is examined. However in the retail industry, cash from receivables is not a concern since most of the sales are made in cash. Hence the cash conversion cycle in a retail setup is a result of the interaction between the cash tied up in inventory and the payables. While payables can be predicted easily, the challenge lies in minimization of the inventory to cash conversion cycle. This requires constant monitoring of the amount blocked in inventories. A major component of the retail balance sheet is inventory and the industry average for the retail sector is 27% of the total assets. The Retail sector thus has a peculiarity in its fund requirement since there is a greater need for short term finance rather than long term or medium term finance. Another large component is the property, plant and equipment. Usage of the retail space in the most effective and profitable manner is what sets apart a successful retailer. This is the reason why the profit per square foot is regarded as an important measure of performance evaluation of a retail outlet. Managing a retail business is a little like riding a bike—there are going to be strenuous uphills, effortless but hazardous downhills and demanding stretches in between. How this ride is handled is based on the ability to keep the wheels moving by combining judicious pedaling with knowing when to shift gears quickly and skillfully while maintaining balance. If we compare a retail business to the two wheels of a bicycle, one wheel is the sales wheel and the other one is the working capital wheel. Financial management in the retail sector is the art of achieving perfect co-ordination between the two so that the ride is smooth and the organization can move ahead. FINANCIAL MANAGEMENT STRATEGIES-CONSIDERATIONS Financial strategy, as a functional strategy, is subject to the overall corporate strategy. Therefore, financial strategy includes profit distribution strategy, investment strategy, financing strategy and legal relations strategy. The strategy must accommodate the interests and needs of company owners, management and customers as much as possible. Since these interests differ from company to company, the financial strategy too differs. The considerations for framing a financial strategy are as under: a)Analysis of the external environment of the company )Key stakeholders’ expectations and objectives related to the company c)Analysis of internal environment of the company d)Analysis of the company’s customers e)Analysis of the company’s competitors f)Analysis of the company’s resources g)Analysis of the company’s suppliers h)Analysis of the functional strategy of the company i)Marketing RD IS/IT strategy II NEED FOR THE STUDY There have been a lo t of players who have crafted the Indian retail success story, and a few that have closed or closing their shop. There is thus an absolute need for research in the field of financial management strategies, and to formulate informed suggestions for Improvements and cautions for the retail industry in India. The booming retail business is attracting a number of corporate players from within India and also those from outside India. This would involve a huge investment by the corporate players and a wrong strategy would lead to erosion of capital and loss of employment. The performance of the successful players is lending credence to the growth figures projected as per the above studies. Reliance Retail has set up 700-plus stores in the past two years, almost at the rate of one store per day, Future Group has begun opening a new no-frills discount retail chain called KB’s Fair Price Stores, a format that is similar in concept to Subhiksha stores. Reliance’s food and grocery format Reliance Fresh on the other hand is high-end in terms of display, ambience and size. However in the midst of the success stories of the Big Bazaars, Reliances and the Walmarts, we have the case of a home-grown ‘Subhiksha’ which went sour. If the reasons for the downturn in Subhiksha were analysed, what starkly stands out is that poor funds management was responsible for bringing down the organisation. It is thus evident that financial management is the crux of retail business. Since the retail sector is fast expanding and highly competitive, there is a need for studying financial management strategies which will result in sustained and profitable operations of an organization successfully weathering the vagaries of economic conditions. In a retail setup the changes in the external and internal environment are more frequent and there is a need to continuously look out for indicators that signal need for change in strategy. Consequently there is a need for constantly revisiting and reviewing existing strategies in order to meet challenges. Financial analytics comes out as one of the major decision making parameters and success factors. The social and economic impact of retail industry is too pronounced to be ignored or made light of. The positive impact of a successful financial strategy in a retail setup augurs well for employment generation and wealth creation. The reverse happens when a financial strategy fails and the retail company crumbles. In the present day scenario of reeling economic recession/correction, it is very important to have financial management strategies that will not only result in profit maximization and wealth maximization but more importantly will not result in loss or erosion of investors’ capital or employment opportunities. It is because of this requirement that this study is being taken up. IIIREVIEW OF LITERATURE 1. Case Study- Subhiksha: A Saga of Ups and Downs- by Bindu Rathore This study starts from the very beginning of the concept on which Subhiksha was ormed and studies the journey of the organization right from tracing its astronomical growth to its downfall. As per the study, the retailer was a trendsetter in many ways not only for the speed with which it was adding stores but the revenue model on which it worked. It promised the customer the most optimum prices and for this it applied a different supply chain management methodology. It would source items for cash and obtain maximum discounts that were passed on to the customer. Since this inventory would need some time to get converted into cash again, it would stock only the fastest moving stocks. This was the USP (Unique Sales Proposition) of the organization. With this sales ideology, the company turnover grew from Rs. 330 crore in 2005-06 to Rs. 833 crore in 2006-07 and then to Rs. 2,305 crore in 2007-08. The number of stores grew from 150 stores in September 2006 to 2300-odd stores in the year 2008-09. The inside story was that the rate of expansion was too fast for the funds in hand. By the time, the management realized this, global markets fell and there were no chances of raising capital. The company became unable to tie up funds even for ongoing operations like wages, inventories and advertising expenses etc. Apart from this it was also reportedly carrying a debt of Rs. 700 crores at an average interest cost of 12% per annum. That slowly started choking and led to paralysis of operations completely. 2. News report in the Wall Street Journal on 26th May 2009. A cash crunch and slowing consumer demand not only forced retailers to shut stores and stall expansion plans, it also set back makers of home and personal care products that had hoped to widen their sales reach through chain stores. Companies such as Hindustan Unilever Ltd (HUL) and Marico Ltd and Wipro Ltd’s consumer products division say the contribution of retail chains to their sales declined significantly in the two quarters ended March from the year-ago period. â€Å"The economic downturn that resulted in a liquidity squeeze, coupled with the decline in consumer sentiment and spending, hit the modern retail business. As a result, some FMCG (fast-moving consumer goods) companies are not generating enough sales and inventories are piling up ,† said Asitava Sen, director, retail consulting, at Nielsen Co. , the market research firm. In some exceptional cases, payments have not been made on time. † HUL’s managing director and chief executive officer Nitin Paranjpe cited slower growth in modern trade as one of the reasons for a decline in the company’s sales volumes Wipro Consumer Care and Lighting (WCCL) said sales growth through chain stores had slowed. The rapid growth of re tail chains in 2006-07 had encouraged consumer product makers to chart strategies to take advantage of that boom. Some, such as Wipro, GlaxoSmithkline Consumer Healthcare Ltd and Marico, set up separate teams to drive sales through modern retail outlets. Several others changed their packaging and even pricing to suit the new retail format’s needs and some offered higher margins to organized retailers. IV OBJECTIVES OF THE STUDY The current study titled â€Å"Strategies for Financial Management in the corporate retail industry in India† is being undertaken mainly with the following broad objectives in mind: 1. To suggest a management information system framework that will aid in formulating financial policies of a retail organisation in the Indian business environment. 2. To examine the impact of product service mix, consumer segment, format mix, geographical market strategies on the financial performance of the organisation and suggest financial management strategies for improvement of financial performance of retail organisations. 3. To study the factors responsible for the failures of certain retail organisations and analyse them. The findings would be useful to rationalise ways and means for timely implementation of or alteration to business strategies followed in a retail organisation. 4. To suggest review methodologies for business strategies to ensure adaptability to changing economic environment. . To compare the impact of the financial management framework in the retail organisations vis-a-vis organisations in other sectors like information technology , telecom etc.. 6. To suggest early warning mechanism through financial analytics. In brief, the purpose of the current study is to undertake detailed research of the impact of various business strategies used in the selection of the segment, the geographic location, the revenue model and other business decisions on the performance of a retail organization and to analyse the impact of these decisions on the financial strategies of the organization to ome out with informed and rational deductions. The study would also examine various existing financial management strategies of the organizations and their impact on the performance of the organization and suggest improvements in financial strategies for enhancing business performance. V HYPOTHESIS We have set a few hypotheses for the abovementioned study. The first hypothesis is that the economic conditions will either remain the same or will improve but will not deteriorate. Second, all the retail players will be impacted by the economic conditions in the same manner and respond to similar financial policies in a similar manner. Third, there could be differences between the performances of the retail players based on the p roducts dealt with. Fourth, we would not have access to the confidential data of the sample organizations taken up for study due to strategic reasons. VI RESEARCH METHODOLOGY Sample: A sample of three organisations in the retail sector in the twin cities of Hyderabad and Secunderabad would be selected as a sample for this study. The organisations proposed to be taken up as samples for this study are as under: 1. Reliance Fresh 2. Big Bazaar . Pantaloon Retail A minimum of three department heads would be selected and a survey of the target respondents would be taken to analyse the financial needs of the organisation and the financial management policies being followed. Primary source of information would be the survey conducted on the respondent population through questionnaires and personal interviews. Secondary source of information would be review of Journal and websites on Financial Management, Retail Management, like www. retailowner. com, www. economywatch. com etc. Financial information from General purpose financial statements available in the public domain like websites of the respective organisations, annual reports, and news articles published in financial newspapers and magazines. VII PERIOD OF STUDY On an average 3 years financial and operational data in each organization will be studied for arriving at a conclusive result of the current study. VIII IMPLICATIONS OF THE STUDY The findings of the current study would be useful to the various corporate players, both Indian and Global companies in the retail industry in India. The study would also be helpful to the stakeholders and also the small investors in such retail organizations in India. It would also help in developing a comprehensive research agenda around identified themes which include: (i) financial planning methodologies for the retail organisations; (ii) strategies for category optimizations to optimize performance management of the retail organizations; and (iii) Strategies for category optimization through Revenue Management. IXREFERENCES 1. Retail Management- Perspectives and Cases by V. V. Gopal 2. Retail Strategy- the view from the bridge- by Jonathon Reynolds and Christine Cuthbertson 3. Economic times- a financial daily 4. Wall Street Journal- e –newspaper 5. Retail Owners Institute website-www. retailowner. com .

fictional portfolio essays

fictional portfolio essays This paper is basically a portfolio of the fictional stories that has been discussed during class. Four (4) out of the six (6) stories which would cover Irish (European), American, African and Japanese writting are to be included in the paper. These would be mainly Araby, Roman Fever, Crackling Day and in a grove. The portfolio will also include supplementary materials which would be fitting for the said works. The manner in which the supplementary materials will be presented would be in two ways. First would be through the historical life story of the author itself. A connection will be found between his life and its influence on his works. Now in order to have a modern twist, the second way would be through several movies which would be connected with each of the four chosen works. This would bring a sense of Dj vu in the part of the readers. Also, the connection between the movies and the published works will give the reader a clearer view on the points emphasized by the author. For Araby, the movie Vanilla sky is chosen. For Roman Fever, the movie Death becomes her is chosen. For Crackling Day, the movie Amistad is chosen. And finally for in a grove, the movie outrage is chosen. Based on the readings, James Joyce, in relation to Araby, was educated at Jesuit schools and was born in Dublin, Ireland. Religion had probably played a major influence in his life as his education on Jesuit schools explains his technique on the use of Christian parallelisms over his works just as him being raised in Dublin, Ireland explains the historical places in which he included in his works such as Araby. But what had struck me the most is the fact that James Joyce had never really stayed in Dublin that long as he was forced to transfer places not only because of war at the time but also because of his protracted argument between his Dublin publisher. This distance ha...

Health, Safety, and Nutrition for the Young Child Research Paper

Health, Safety, and Nutrition for the Young Child - Research Paper Example Developmental toys are essential for young children because they support the child’s learning process and have the added advantage of being less likely to cause unintentional injuries. (Herr, 2001). The guidelines which need to consider when selecting toys for young children are as follows:1. It is important to consider the child’s age, interests, and developmental abilities when selecting an appropriate toy. Developmental skills should be given foremost importance because the toy should be able to enhance his problem solving and reasoning skills.  2. High-quality construction features are important to consider such as durability, stability, and good design.3. Select toys that young children can use on their own with minimal parental supervision.4. Avoid selecting toys which have small pieces in order to eliminate the chances of choking. (Marotz et al, 2005).The pop-up farmhouse is a great toy for young children. The toy is safe and is not too heavy for the child to l ift. Pop up farmhouse can be used with minimal adult supervision because the toy is not made of small pieces. The toy is a good developmental item because it enhances the child’s imagination and dexterity. Moreover, it is great for eye coordination and is a good tool for familiarizing children with the sounds of farm animals. Therefore, I would advise parents to select this toy for their young children.  The Inch WormThe Inch Worm is an excellent toy for enhancing a child’s dexterity and locomotory skills.