Parasitism - Free Essay Example

Sample details Pages: 29 Words: 8650 Downloads: 6 Date added: 2017/06/26 Category Biology Essay Type Descriptive essay Did you like this example? lChapter 1 General Introduction 1.0 Introduction 1.1 Fish Parasites Parasitism is an obligatory association between two distinct species, in which one species parasite is dependent on its host for nutrients and shelter (Elmer Glenn, 1961). The parasites can be divided into two groups which are ectoparasites and endoparasites. Ectoparasites are found on the external surfaces of the host such as skin, fins and gills, while endoparasites usually hide within the internal tissues or organs in the host (Cheng, 1986). Fishes acts as hosts to a wide variety of parasites such as the protozoans, platyhelminthes, acanthocephalan, nematodes and crustaceans (Lim, 1987). Parasites are typically smaller than their host. A distinct host usually found to be infected by a group of parasites (Zander, 1998). Don’t waste time! Our writers will create an original "Parasitism" essay for you Create order The chemical and physical factors which are either in micro-environment or macro-environment play an important role to determine the distribution and density of parasites (Cheng, 1986). Parasites show a preference among different age groups (Zander et al., 1993), sex of host (Lim, 1987) or according to host density and behaviour (Cheng, 1986). Remarkably, parasites have a distinguished ability to deal with the normal physiological and structural changes of the host, for example, the peristaltic movement and intestinal mucosa (Cheng, 1986) for survival, and starting their parasitism phase. Apart from that, the presence of parasites commonly irritates the host, causing immunological change (Lim, 1979) and may eventually cause death (Zander, 1998). Parasites penetrate the hosts tissue, causing chronic body system problems to the host. Moreover, the irritation site will initiate secondary infection by micro-organisms to the host (Cheng, 1986). 1.2 Specific parasite Gobies play a role as main host and transmitters (Zander, 1993) of parasites. Varieties of protozoan, helminthes, mollusks, crustaceans have been described as parasites of fish (Lim, 1987). They are able to reproduce either sexually or asexually. Some species of parasites have specific attachment to enable them to hold onto the host for food, transport (Cheng, 1986) or shelter (Elmer Glenn, 1961). The phylum Platyhelminthes consists of a large group of free-living invertebrates but most live as parasitic species on or in other organisms. There are 3 main classes under this phylum, namely, class Monogenea, class Trematode, and class Cestoda (Solomon et al., 2002). Monogeneans are typical gillworms (Bunkley-Williams E. H. Williams, 1994). Some species attach themselves on the body surface or invade into the inner organ of aquatic species (Reed, Francis-Floyd Klinger, 1996). Monogeneans have a series of hooks that enable them to attach on the host (Reed et al., 1996). They usually inhabit the gill and feed on skin mucosa (Lim, 1987). Reed et al. (1996) mentioned that a monogenean, Dactylogyrus sp., usually attaches itself to the gills of freshwater fish. It reproduces by laying eggs, while Gyrodactylus is typically found on the skin and fins of fish. This parasite produces live young or can be described as viviparous during its whole life. Digenea was formerly described as digenetic trematodes and this species of flukes usually has at least two hosts in their life cycle (Smyth, 1962). The parasite usually has a terminal opening mouth with a sucker which is subterminal or ventral. It may or may not have an oral sucker (Yamagutti, 1958). They are particularly found as endoparasites in the digestive tract, but are sometimes found throughout the inner organ systems of vertebrates (Yamagutti, 1958). The adult digeneans are commonly hermaphroditic but reproduction still requires two worms. Digeneans have a complex life cycle with two to three intermediate hosts (Cheng, 1986). Cestode is a parasitic flatworm or commonly known as tapeworm (Solomon, et al., 2002). An adult worm consists of a scolex which maybe armed with suckers and sometimes hooks for attachment on host (Solomon et al., 2002); and a strobila which is a linear series that be formed by one or more segments (also described as proglottides) which contain reproductive structures (Yamagutti, 1959). Most of the cestodes are monoecious and each proglottid has a male reproductive system and a female reproductive system. Both self and cross-fertilization will take place in cestode (Smyth, 1962). Nematode is commonly called as round worm (Solomon et al., 2002) that can infect a vertebrates eye, mouth, alimentary system, body cavity and the other parts (Smyth, 1962). This species can also be found as a parasite of many species of fishes. Some species parasitize plants and are described as an important agricultural pest (Campbell, 2002). It is smooth and consists of a cylindrical body, a pointed tail and cuticle layer surrounding its body (Solomon et al., 2002). Nematodes are typically dioecious. The female is generally larger than the male (Cheng, 1986). Apart from that, nematode life cycles differ depending on the species of the nematode (Smyth, 1962). 1.3 The Family of Gobiidae The members which form the family Gobiidae are known as gobies. It is the largest family of marine fishes and consists of two hundred genera (retrieved from Wikipedia). The members of the Family Gobiidae have their own special characteristics. They have a cylindrical body and the pelvic fins usually form an adhesive disc (Maurice Anthony, 1993). This species usually inhabits the shore in shallow bays and estuaries and also freshwater swamps and lakes (retrieved from Wikipedia). Some species are restricted to coral reefs, rocky coast, sandy, mangrove swamp or muddy beaches (Murdy, 1989). 1.4 Oxudercine Gobies (Mudskippers) The mudskippers are known as ikan belacak, ikan tembakul or ikan belukor in Malay. The members of the goby family classified as mudskipper species based on body traits and behaviours (Murdy, 1989). Oxudercine gobies are described as the members of mudskippers (Murdy, 1989). There are thirty four species from ten genera found throughout the world (Murdy, 1989). They are Apocryptes, Zappa, Pseudapocryptes, Apocryptodon, Parapocryptes, Oxuderces, Scartelaos, Boleophthalmus, Periophthalmodon and Periophthalmus. Only seven genera of mudskippers (Periopthalmodon, Periophthalmus, Boleophthalmus, Scartelaos, Oxuderces, Parapocryptes and Pseudopocryptes) were found along the Selangor coast (Khaironizam, 2004). According to Khaironizam (2004), Cantor (1849) had identified five species of mudskippers while Koumans (1953) had noted eight species in Malaysia. Apart from that, there were four species already reported by Macne (1968) and five species were described by Berry (1972). He also mentioned that Murdy (1989) stated 11 species of mudskippers in Malaysia while Takita (1999) had studied 12 species of mudskippers (refer to Appendix A5). The mudskippers are euryhaline and semi-terrestrial species (Clayton, 1993). They have a rounded body and united pelvic fins. They also have a pair of protruding eyes and one to two rows of teeth in the upper jaws. Besides this, they can survive for a long time above water and move on land. Commonly, the males are smaller than the females. The mudskippers usually feed on crabs, insects, and other small organisms (Clayton, 1993). There are several adaptations that allow the mudskippers to survive successfully out of the water. Their bronchial chamber can fill up with water which allows them to walk on land for up to several hours. They spend much of their lives out of water and are able to undergo osmoregulation as well as oxygen uptake via their skin and gills (Clayton, 1993). They are abundant in muddy areas or mangroves. Oxudercine gobies often build mud towers around their burrows as refuge from predators (Clayton, 1993). The mudskippers have certain economic importance which provide substituted fishery for the period of torrential rain in some coastal countries. These fishes are commonly eaten in China, Taiwan, India and some parts of Malaysia. Nowadays, the mudskippers are also used as feed for aquarium fish (Clayton, 1993) 1.4.1 World Distribution of Mudskippers Mudskippers can be found around the tropical world as well as in the coastal regions of Asia, from Indonesia to Borneo (see 3). A few species are also found in Africa and Australia, whereas none are found in the new world (refer to Appendix A1). 1.5 Literature Reviews on Gobiid Parasites (refer to Appendix A7) There is too few research on parasitological studies of mudskipper in the Asian region. Most of the studies nowadays concentrate on the behavior and ecology of oxudercinae gobies (Khaironizam, 2004); taxonomic and cladistic of the oxudercine gobies (Murdy, 1989); and the nitrogen excretion of mudskipper in water and on land, the growth of mudskipper, habitat of mudskipper and osmoregulation system among this species (Clayton, 1993). Mhaisen and Al-Maliki (1996) mentioned that Myxobolus pfeifferi (Sporozoa), Diplozoon sp. (Monogenea) and Neoechinorhynchus sp. (Acanthocephala) were found in dark-blotched mudskippers, Periophthalmus waltoni, from the mudflats of the Khor Al-Zubair estuary. A new record showed the heterophyid (trematode) had served Boleophthalmus pectinirostris and Scartelaos sp. as second intermediate host (Sohn et al., 2005). Clayton (1993) indicated that cestode, agamofilarial and acanthocephalid cysts have been described as parasite in Periophthalmus koelreuteri (Pearse, 1933), Periphthalmodon schlosseri and Boleophthalmus boddarti (Khoo, 1966). Besides, the larval ascarid nematodes infected Periophthalmodon schlosseri (Khoo, 1966). Pseudapocryptes lanceolatus were found to be infected by parasitic copepod, Gnathia sp. A larval cestode was also described by Pearse (1932) in Periophthalmus modestus. A study by Choudhury and Nandi (1973) did not establish any parasitic infection on Boleophthalmus boddarti and Scartelaos histophorus. The intestinal flagellates were also noted by Pearse (1933) in Boleophthamus boddarti. The bacterial flora had been observed by Morii and Kasama (1989) to be in the intestine of Boleophthalmus pectinirostris and Periophthalmus modestus. In West Africa and Singapore, a new species of acanthocephalan was detected in Periophthalmus barbarus and Periophthalmus schlosseri. Eighteen Gyrodactylus species were collected from gobies of the genus Pomatoschistus and the host-parasite relationship was discussed (Huyse et al., 2003). Geets et al. (1999) found that three gobies (Pomatoschistus minutus, P. lozanoi and P. pictus) were infected by Gyrodactylus arcuatus in the North Sea and noted that Gyrodactylus longidactylus n. sp. is host specific (Geets et al., 1998). This study showed that monogenea was found in Pomatoschistus lozanoi from the North Sea (Geets et al., 1998) Longshaw et al. (2003) discovered that Gyrodactylus quadratidigitus n. sp. (Monogenea: Gyrodactylidae) was found on the on the gills and body surface of Thorogobius ephippiatus (Lowe). Neogobius fluviatilis, Neogobius kessleri and Neogobius melanostomus from Slovakia were investigated by Ondrakov et al. (2003) and were found to be infected by a metazoan parasite.According to Garcia et al. (2004), Lepidogobius lepidus that has been newly recorded as being a host to thirty three cestode pleroceroides of Phyllobothrium sp. Digenea (Aphalloides timmi, Apatemon gracilis, Podocotyle atomon, Cryptocotyle concavum, Cryptocotyle lingua) and nematode (Hysterothylacium sp.) are found to be present externally and internally in Pomatoschistus minutus, P. pictus, P.microps, Gobiusculus flavescens and Gobius niger (Zander, 2004). Pampoulie et al. (1999) noted that infection of Aphallodes clomicola has a bad impact on Pomatoschistus microps (Kryer, 1838). Gobies were described as main host and transmitters (Zander, 1993) of parasites. Zander (1998) noted that goby fishes serve the digenean, cestode, nematode and acanthoceplalan serve the goby fishes as their intermediate host. Pomatoschistus microps is the final host of Podocotyle atomon and Aphalloides timmi and these parasites had different abundance according to different seasons (Zander et al., 2002). Malek (2001) mentioned that Labratrema minimus and Cryptocotyle concavum have infected gobies (Pomatoschistus microps and Pomatoschistus minutes). According to Charlebois et al. (1997), there were 144 collected round gobies parasitized by 7 species of parasites. They are Diplostomum sp.(digenean), Eustrongylides tubifex(nematode), Rhabdochona decaturensis, Spinitectus sp., Spiroxys sp.(nematode), Leptorhyncchoides thecatus (class Palaeacanthocephala) and glochidia (larvae of freshwater bivalves). Apart from that, another study showed that four of the 67 gobies had parasites and three of them were infected by Acanthocephalus dirus while the latter was infected by nematode. Parasite infection of the male gobies was higher than female (Appleby, 1996). Most of the parasites were found from the gills, oral cavity and pharynx of gobies. Marianne et al. (2004) mentioned that Ellipsomyxa gobii (Myxozoa) infected goby, Pomatoschistus microps, as fish host. According to Lynda et al. (2004), there were four species of freshwater parasites were found in round goby, Neogobius melanostomus. These parasites included trematodes and crustaceans. Schistocephalus solidus, Aphalloides timmi and Apatemon gracilis including a metacecaria had been found in the goby fishes (Zander, 2001). These gobies have a low richness, prevelance, mean intensity and mean abundance of parasite. The gobies are intermediate host of digenean which is Diplostomum sp., acanthocephala (Acanthocephalus dirus) and nematode, Eustrongylides sp. (Camp et al., 1999). 1.6 Objectives of Study This is a general study on the parasites of oxudercine gobies (mudskippers) along the Selangor coastal area. The study is divided into two parts with the first part being a general survey of parasites on mudskippers while the second part discuss the relative factors affecting distribution of parasites. It also had an observation on the occurrences mudskippers along Selangor coast. Chapter 2 Materials and Methods 2.0 Introduction The present study focuses on the mudskippers found along the coastal area of Selangor. The fishes were caught from Jeram, Sementa (2 sites), Carey Island (3 sites) and Morib. A total of 127 specimens belonging to 7 species of mudskippers were collected and they included Boleophthalmus boddarti, Periophthalmus chrysospilos, Periophthalmus novemradiatus, Periophthalmus modestus, Periophthalmodon schlosseri, Pseudapocryptes elongates (Pseudapocryptes lanceolatus) and Scartelaos histophorus. Fish parts including the body surface, gills and gut were observed. The weight and the size of each specimen (standard size and the length) were recorded. Apart from that, the diet of mudskippers also was documented according to their stomach contents. Next, the parasites found from different parts of fish specimens were identified and tabulated. ANOVA, Coefficient of Dispersion, the Chi Square Test and population parameters were used to analyze data. 2.1 Methodology i) Fish collection site The fish specimens were caught by having the sampling at Jeram, Sementa, Carey Island and Morib (see 4). The field works were carried out during spring tide because the low tide was the lowest level while the high tide had the highest point when compared to the normal time. The salinity and pH of water were recorded. Fishes were caught by using different sizes of scoop net (medium or small). Otherwise, the fish can be caught using the cast net or by angling. Some crustaceans or small fishes were used as bait to attract fishes. The mudskippers were kept in water-filled aquarium to make sure that they may survive longer. (If the fishes die during sampling, some ice cubes can be added into plastic bag to freeze the dead fish). Species identification was done using a taxonomic characteristic key. 2.2 Fish Dissection Each fish was killed by a blow on their head or by severing the nerve cord. The weight and the size of specimen (standard size and the length) were recorded. After that, the gill and alimentary system of the fish were taken out step by step for observations. The parts examined were placed in a petri dish (with some drops of seawater in it. The seawater possibly contained the protozoans, copepods, mud, sea grasses and the others) Gill removal The operculum (a bony plate) was lifted and the gill parts were examined. Next, the operculum was cut across its base and the gill was being exposed. The gills were removed by cutting the upper and lower attachments of the arch. The gill apparatus were separated one by one into 8 pieces and the isolated gills were placed into a petri dish partially-filled with water. A pipette was used to suck and separate the parasite from the mucus, blood blot or tissues. A needle or a pair of fine forceps was usually used to scrape the mucus or tissue so as to separate the parasites from mucus or tissue. Alimentary system or gut part removal The alimentary system is a canal which starts from the esophagus and ends below the rectum. The body of the fish was cut longitudinally from the operculum parts till the tail part of the fish. After getting out the gill apparatus, it was lifted out together with the alimentary system by using a pair of forceps. The alimentary tract was cut into 4 parts (stomach, small intestine, big intestine and rectum). Again, a needle or forceps was used to scrape the mucus or tissue to separate the parasites from the mucus or tissue. The food items from the stomach content of the fish were recorded because this could possibly gives us some informations on the life cycle of parasite (Mhaisen and Al-Maliki, 1996) 2.3 Parasite collection Scalpel or dissecting needles were used to scrape gently the gill filaments and gut dermis of the fish. The parasite were sucked out by using a small pipette (if they were too small) or a pair of forceps (if they were bigger) and placed into a cavity block filled with some drops of seawater. Then, the parasite was examined under a dissecting microscope. The parasite was preserved using different methods according to the species of parasites. i) Fixation of the monogenean or any unknown species of parasite A coverslip was placed over the parasite after it was placed at the centre part of a slide. The slide-fixed parasite would be examined with a dissecting microscope to make sure the slide contained the specimen. After leaving the slide to be dry for a few minutes, a clear nail varnish was used to fix the four edges of the coverslip on the slide to prevent any movement of the coverslip. Ammonium picrate glycerin was added to the sides of the coverslip to allow it to seep under the coverslip, to fix and to clear the specimens. ii) Preservation methods for different types of parasite There were different parasite preservation methods used depending on the species and quantity of the collected parasites (see Table 1) Table 1: Preparation methods for different types of parasite Parasite Preparation methods Nematode Warm 70% alcohol was poured over the worms and later the specimens were transferred to fresh 70% alcohol for storage Trematode Digenea Warm 10% formalin was poured over the worms and the specimens were kept overnight in the fixative. They were transferred into fresh 70% alcohol for storage Cestode Warm 70% alcohol was poured over the worms and later transferred to fresh 70% alcohol for storage 2.4 Data analysis Coefficient of Dispersion (C.D) The coefficient of dispersion (C.D) was calculated to see how the population is dispersed, such as random, uniformed or clumped. It is calculated by dividing the variance over the mean and the relative relationship between mean and variance would establish the distribution pattern of the parasites in a population. If the C.D is close to or equals to one, the population is randomly dispersed. If the C.D is more than one, the population is clumped or over-dispersed. If the C.D is less than one, it shows that the population is uniformly dispersed or under-dispersed. The ratio of the mean to the variance is called the Coefficient of Dispersion (C.D) and the calculated formula is as below: The Analysis of Variance (ANOVA) The Analysis of Variance (ANOVA) (refer to Appendix A4) was used to test for significant differences among the variances. In this study, ANOVA was used to test for significant differences among the variances of parasites in the mudskippers sampled around the Selangor coastal area. In addition, the relative test had exhibited the interaction among the different factors affecting the occurrences and quantity of parasites. A test was calculated to show the correlation between the interaction of the different independent variables and the quantity of parasites on the gills and gut of the mudskipper. The significant result for fish survival in relation to the quantity of different parasite species under different variables was also documented. Chi Square Test The Chi Square Test was done to test whether a sample from a population follows a specified distribution or not. The Chi Square value was calculated as follow: Where as: = The observed number of cases which be written off as i row number of j column number = The expected number of cases which under the H0 to be characterized with i row number of j column number = It is run over all cells r = The number of rows in Chi-square table k = The number of columns in Chi-square table The calculated value was tested at a significance level of 95%. The value was yielded by the formula which was approximated by distribution with (r-1) (c-1). If the calculated value exceeded the tabulated one, the null hypothesis would be rejected at p = 0.05. Population Parameter The basic parasitological parameters which are prevalence, abundance and intensity were calculated for each parasite. According to Cox (1982), prevalence is defined by the percentage of host. Formula calculation of each basic parasitological parameter is as below: Prevalence is to look at how common a host (mudskipper) is infected in a population. Prevalence = Number of infected host X 100% Number of host examined Intensity is the quantity of parasite found in the host samples (mudskippers). Intensity = Total number of parasites Total number of infected host Abundance is the total number of parasites found in all the examined hosts. Abundance = Intensity Total number of host examined Chapter 3 Results and Discussions 3.0 Introduction This study focuses on parasites of oxudercine gobies (mudskippers) along Selangor coast. The fishes were caught (see Chapter 2) from Jeram, Sementa (2 sites), Carey Island (3 sites) and Morib (refer to 4). There were totally 127 mudskippers caught for study. The collected fish were identified by using taxonomic keys and cladistic analysis of family Gobiidae. 127 mudskippers consist of 7 species from 5 genera were collected. They were 27 Boleophthalmus boddarti, 36 Periophthalmus chrysospilos, 54 Periophthalmus novemradiatus, 1 Periophthalmus modestus, 1 Periophthalmodon schlosseri, 7 Pseudapocryptes elongates (Pseudapocryptes lanceolatus) and 1 Scartelaos histophorus (refer Appendix A3). In this study, parasites of the gills, the gut and the body surface of fish were investigated (see Chapter 2). There was found nothing from the body surface of fish. Five groups of parasites found from the whole study. They were monogenean, digenean, nematode, cestode and some unknown parasite cysts. Apart from that, the environmental factors (pH and salinity of water) also were discussed (see Table 2; Appendix A2). 3.1 Parasites of oxudercine gobies (mudskippers) Table 2 showed the summarized parasite data of oxudercine gobies (mudskippers) (refer to Appendix A2). Parasites species differ among oxudercine gobies (mudskippers) based on studied sites. Five groups of parasites were detected from this present study (see Table 3; 5-11). Identification is not easily to be done based on general main beliefs about parasite. There are varies in morphology and biological characters among parasites (see Satyu Yamaguti, 1953). The collected parasite consists of digeneans (see section 1.2; 5-8), monogenean (see section 1.2; 9), nematode (see section 1.2), cestode (see section 1.2; 10), and unidentified parasite cysts (see 11). Digeneans inhabit the gills and the gut of mudskippers (see Table 3). In this study, three types of digeneans were found in the gut of mudskippers. However, two of these three types of digeneans were also found in the gills. These digeneans are probably regurgitated from the gut as they have the same morphology with the guts digeneans. Gyrodactylus sp. (Monogenea, Gyrodactylidae) was described from the gills of mudskippers (see 8). The gills are the preferred part for monogenean. Table 3 showed that cestode and nematode inhabit the gut of fish specimens. Most of them found as encysted form in the mudskippers. In this study, the unidentified parasites cysts were found in the gills and gut of the mudskippers (see Table 3; 11). The unidentified parasites found in the gut of the mudskippers are probably cysts of cestode or nematode. However, some unknown parasites cysts which were found in the gills are considered as myxosporid. Table 2 Excel Table 3: Parasite record of the examined fish Parasite species Number of Species Microhabitat i) Digenea (see 5-8) 3 Gut and gill ii) Monogenea (see 9) 1 Gill iii) Cestode (see 10) 1 Gut iv) Nematode 1 Gut v)Unidentified parasite cysts 3.2 Parasites and their hosts Table 4 showed the presences of parasites on oxudercine gobies (mudskippers). Eight monogeneans were found limited to Pseudapocryptes lanceolatus (see Table 4 Table 5). Monogenean seems to be host specific and it prefers to inhabit the gills of Pseudapocryptes lanceolatus. Next, digeneans occurred in Periophthalmus chrysospilos and Periophthalmus novemradiatus (see table 4). There were 136 digeneans found in Periophthalmus chrysospilos while ten digeneans were detected from Periophthalmus novemradiatus (see Table 5). It is possibly because digeneans are able to adapt well in Periophthalmus chrysospilos. Periophthalmus chrysospilos, Periophthalmus novemradiatus and Periophthalmodon schlosseri were infected by cestodes (see Table 4). Most (twenty eight cestodes) were found in Periophthalmus novemradiatus (see Table 5). According to Table 5, there were twenty five nematodes found from Periophthalmus novemradiatus. Nematodes also occurred in Periophthalmodon schlosseri, mostly in the encysted form in the gut of mudskippers. There were 402 unidentified parasite cysts (see section 3.1) observed in Boleophthalmus boddarti, Periophthalmus modestus and Periophthalmus novemradiatus (see Table 4 Table 5). Most were found in Boleophthalmus boddarti. . Table 4: Parasites from Different Mudskippers Species Parasite Species Boleophthalmus boddarti Periophthalmus modestus Periophthalmus novemradiatus Host Species Periophthalmus chrysospilos Periophthalmodon schlosseri Pseudapocryptes Lanceolatus Scartelaos hisphorous Monogenea + Digenea + + Cestode + + Nematode + + + Unknown parasite cysts + + + = Parasite detected; = Parasite not detected Table 5: The Quantity of Compound Parasite Community Present in the Different Mudskipper Species Host Species Parasites Digenea Monogenea Nematode Cestode Unidentified cysts Boleophthalmus boddarti 0 0 0 0 395 Periophthalmus chrysospilos 136 0 0 1 0 Periophthalmus novemradiatus 10 0 7 28 6 Periophthalmus modestus 0 0 0 0 1 Pseudopocryptes lanceolatus 0 8 0 0 0 Periophthalmodon schlosseri 0 0 25 4 0 Scartelaos histophorus 0 0 0 0 0 3.3 Parasite and their habitat The salinity and pH of the water from the specimen collection areas were recorded (see table 2). Table 6 showed that site Sementa 2 with salinity reading from 23 to 25 and pH of water between 7.35 and 7.58 had the highest parasitic infection rate. There were 29 out of 40 samples found to have parasitic infection. Morib recorded the lowest parasitic infection rate (6%), only one out of 18 mudskippers was infected with parasite cysts. The parasitic infection rate of the mudskippers may perhaps vary with a distinct study area. The abundance of parasite was probably affected by the salinity of the macro-habitat (Zander Reimer, 2002). Monogenean prefers to inhabit in water with pH 7.44 (see Table 7; 13). Digeneans can be found in water with pH ranging from 5.71 to 8.71 (Table 7). Most digeneans were found in water with pH 7.35. Cestode and nematode occurred individually in the inner body of the host. Cestodes were found from the site Carey Island 2, site Sementa 2 and Morib (see Table 2). Table 7 showed that twenty-eight cestodes were found from site Carey Island 2 (see Table 2) with water pH measured as 5.71. Nematodes could be found in water with a wide range of pH ranging from 5.71 to 8.71 (Table 7). With reference to Table 7, the unidentified parasite cysts were found more abundantly in water pH 7.35 (Table 7; 14). The abundance of parasites in a distinct area differs with pH of water based on their own optimum pH and tolerance to the environment. Table 6: The Parasitic Infection of Mudskipper in Different Locations along Selangor Coast Locations Total of Samples pH water() Salinity Parasitic infections Infection Rate Jeram 5 N.A N.A 2 40% Carey Island 1 5 7.44 11 3 60% Carey Island 2 36 5.71 17 14 39% Carey Island 3 3 8.17 11 2 67% Sementa1 20 6.81 28 5 25% Sementa2 40 7.35-7.58 23-25 29 73% Morib 18 7.21 25-30 1 6% 2 Table 7 : Parasites in different pH range. pH of water Parasite 5.71 6.81 7.21 7.35 7.44 7.58 8.17 Digenea 10 0 1 135 0 0 1 Cestode 28 0 1 4 0 0 0 Monogenea 0 0 0 0 8 0 0 Nematode 1 4 0 25 0 0 2 Unidentified cysts 0 8 0 390 1 2 0 3.4 Compound Parasite Community Table 8 listed 402 unidentified parasite cysts recorded from the entire study. There were 146 digeneans found from the oxudercine gobies (mudskippers) and thirty two nematodes, mostly in encysted form. Monogenean was found in a small quantity from the oxdercine gobies. There were totally 8 monogeneans detected from the specimens. Table 9 showed a variation in prevalence, intensity and abundance of gobiid parasites. Monogenean had a lower prevalence which is around 2.36%. This suggests that mudskippers are not the preferred hosts of monogeneans. Digeneans have 15.75% prevalence in this study. The prevalence of unidentified parasites cysts was noted as 17.3%. The prevalence results obtained suggest that the level of parasitic infection is different among oxudercine gobies on Selangor coast (see Table 9). A distinct mudskipper species hardly ever found with parasitic infection under the natural condition. The intensity of unidentified parasite cysts and digeneans were considerably higher than the other parasites. Both of them were recorded respectively as 18.3 and 7.3 intensity. The monogeneans and cestodes achieved a similar intensity at around 2.7. The low intensity indicates that the number of parasite found from a distinct host is relatively small. The compound parasite attained a low abundance in the mudskippers, in the range of less than 0.2. Table 8: The Quantity Parasites Present in the Mudskipper from Study Sites Parasite species Quantity Digenea 146 Monogenea 8 Nematode 32 Cestode 33 Unidentified parasite cysts 402 Table 9: The Total, Prevalence, Intensity and Abundance of Compound Parasite Community in Mudskippers Parasite Species Total Prevalence (100%) Intensity Abundance Monogenea 8 2.362 2.667 0.021 Digenea 146 15.748 7.300 0.057 Cestode 33 7.874 2.750 0.022 Nematode 32 3.150 8.000 0.063 Unidentified Parasite cysts 402 17.323 18.273 0.144 2 3.5 Statistical Analysis 3.5.1 Distribution Patterns and Aggregation of parasites The distribution pattern of parasite can be estimated using Coefficient of Dispersion (C.D) and scheming the relationship between the mean (X) and the variance (S2). The coefficient of dispersion (C.D) predicts the aggregation of parasites is neither random, uniform nor clumped (see Table 10 11). The result of Coefficient of Dispersion (S2 X) showed that the distribution of the parasites in a study site was clumped (see Table 10). The phenomenon may be affected by environmental factors. Table 11 showed that the parasite distribution was more clumped than expected in the oxudercine gobies. The parasites usually are considered to be host specific. They need certain host to complete their life cycle. The host provides them with a suitable environment and nutrition. Table 10 : Distribution of Infected mudskippers in Study Sites Number of infected fish Number of study sites Mean, X 56 7 8.0 Variance, S2 632 7-1=6 105.3333 C.D 13.1667 Table 11 : Distribution of Parasites in Oxudercine Gobies (mudskippers) Number of parasites Number of fish species Mean, X 621 7 88.7143 Variance, S2 123209.4 7-1=6 20534.9 C.D 231.4723 3.5.2 ANOVA Test Correlation analysis was conducted using a S-PLUS statistical method (S-Plus 6.2 Academic Site Edition). The analysis of variance (one way ANOVA) was used to determine samples differences (refer to Appendix A4). Correlation analysis determined the linear relationship among the measured responses. A one-way analysis of variance (ANOVA) on each measured factors indicate that the significance between the occurrences of parasite with a distinct host species (oxudercine gobies) in a study area. Hypotheses: : The occurrence of certain parasite is independent with host species in a studied site HA : The occurrence of certain parasite is dependent with host species in a studied site 3.5.2.1 ANOVA testing for 3 measured factors on parasites of the oxudercine gobies (mudskippers) ANOVA test was done using 3 factors which are the host species, the sex of host, and the study site. This test may determine how the factors interact with gobiid parasites along the Selangor coast. Table 12 showed that the host species and environmental factors (macrohabitat) significantly affect the occurrence of parasite in the mudskippers. The sex of host (female or male) may or may not affect the occurrence of parasites on mudskippers. Table 12: The three main factors affecting the occurrences of parasites on mudskippers (P-values for main effect) * Significant (S) = P0.05 * Non-Significant (NS) = P0.05 Effect df SS MS F P Host species 6 4.75 0.79 4.69 0.00027 (S) Host Sex 1 0.57 0.57 3.38 0.06843 (S/NS) Study Site 6 5.73 0.96 5.65 0.00004 (S) Residuals 113 19.13 0.17 * Total parasites, X = Log(X+1) 3.5.2.2 ANOVA testing for 3 measured factors on the gill parasites and gut parasites ANOVA test was used to determine the relationship among the host, the sex of host and the study site with reference to the gill parasites (see Table 13) and gut parasites (see Table 15). The four genera of fish specimens were Boleophthalmus, Periophthalmus, Pseudapocryptes and Periophthalmodon. i) Gill Parasites Table 13 showed a significant effect between the host genera and the occurrences of parasites. The parasites prefer to serve certain mudskipper species as their host. The study site with a probability value of 0.06 indicates that there were some interactions between the environment of study site (macrohabitat) and the parasites on the gill of mudskippers (see Table 13). There were 3 groups of parasites found from the gills. They were digenean, monogenean and unidentified parasite cysts. Digeneans and monogeneans interact significantly with the host and environment (see Table 14). Both parasites were suggested to have host specificity. Table 13: The Three Main Factors Affecting Gill Parasites on Mudskippers (P-values for main effect) * Significant (S) = P0.05 * Non-Significant (NS) = P0.05 Effect df SS MS F P Host genera 3 1.668436 0.5561453 7.812235 0.0000854 (S) Study Site 6 0.887823 0.1479705 2.078559 0.0609336 (S/NS) Host Sex 1 0.000172 0.0001717 0.002412 0.9609126 (NS) Residuals 116 8.257925 0.0711890 * Total parasites, X = Log(X+1) Table 14: Result of ANOVA Test for Gill Parasite against Host Species, Host Sex and Study Site. (P-values for main effect) * Significant (S) = P0.05 * Non-Significant (NS) = P0.05 P value Parasites Host species Host Sex Study Site Digenea 0.003838 (S) 0.758516 (NS) 0.004617 (S) Monogenean 0.000000 (S) 1.000000(NS) 0.000000 (S) Unidentified Parasite cysts 0.238282 (NS) 0.981684 (NS) 0.812846 (NS) ii) Gut Parasites The existences of a distinct gut parasite maybe affected by the host species and the environmental factors (see Table 15). The host genera and the environment of the macrohabitat have a significant effect (in the range of P0.05) on the existence of the gut parasites. There were four types of parasites were found from the gut of the mudskippers. They were digenean, cestode, nematode and unidentified parasite cysts. Table 16 showed that the host fish species and environment of the macrohabitat could affect the quantity of digeneans. Digenean was specific to host and environment of macrohabitat. The other gut parasites showed significant interaction with host species. Table 15: The Three Main Factors Affecting Gut Parasites on Mudskippers (P-values for main effect) * Significant (S) = P0.05 * Non-Significant (NS) = P0.05 Effect df SS MS F P Host genera 3 1209.362 403.1208 6.136085 0.0006587(S) Locality 6 1028.375 171.3958 2.608893 0.0208333 (S) Sex 1 108.130 108.1295 1.645889 0.2020990 (NS) Residuals 115 7555.125 65.6967 Table 16: Result of ANOVA Test for Gut Parasite against Host Species, Host Sex and Study Site (P-values for main effect) * Significant (S) = P0.05 * Non-Significant (NS) = P0.05 P value Parasites Host species Sex Locality Digenea 0.000000 (S) 0.000488 (S) 0.0000000 (S) Cestode 0.028748 (S) 0.134147 (NS) 0.290563 (NS) Nematode 0.000000 (S) 0.406793 (NS) 0.123248 (NS) Unidentified Parasite cysts 0.012161 (S) 0.965951 (NS) 0.506758 (NS) 3.5.3 Chi Square Test Hypotheses: : The parasites do not distribute by preferred part of a specific host species HA : The parasites distribute by preferred part of a specific host species Chi square statistics is used to test how a sample from a population follows a specified distribution. The Chi square statistics result show that a significant effect at the probability (P) value is less than 0.05. The host species and environmental factors (microhabitat and macrohabitat) independently played an important role in affecting the number and type of parasites (see Table 17). Parasites distribution was clumped among the mudskippers. They were host specific and have their own preference to inhabit the particular part of the mudskippers. Hypothesis Tested X statistic P- value Host species X Parasite compound community 1932.09 0.00 (S) Host Species X Location of parasite on fish (Gill and Gut) 110.5 0.00 (S) Table 17: Result of the X statistic on the association analysis between host species and parasite compound community; the host species and infection site of parasites. * Significant (S) = P0.05 * Non-Significant (NS) = P0.05 Chapter 4 General Discussions 4.0 Introduction The compound parasite community which was identified from different species of mudskippers consist of digenea, monogenea, cestode, nematode and unknown parasite cysts (see Table 3). Seven species of mudskippers [Boleophthalmus boddarti, Periophthalmus chrysospilos, Periophthalmus novemradiatus, Periophthalmus modestus, Periophthalmodon schlosseri, Pseudapocryptes elongates (Pseudapocryptes lanceolatus) and Scartelaos histophorus] were collected along Selangor coast. The environmental factors may affect the density and distribution of the parasite (Cheng, 1986) based on the host species. 4.1 Parasites of oxudercine gobies (mudskippers) 4.1.1 Parasite compound community Varieties of parasites serve the fish as host in nature (see Chapter 1). Most parasites have special attachment and they depend on host metabolically (see section 1.2). Parasites suck foods and nutrients from host and set off their new stage of life cycle in the host. Besides, they able to move frequently to deal with the typical physiologic changes of the hosts inner body (see section 1.2). The parasite species differs among mudskippers in a same studied region (Marcogliese, 2002). Digenean, monogenean, cestode, nematode and unidentified parasite cysts were found internally from oxudercine gobies in the present study (see Table 3). The previous study noted that the parasitic protozoa, copepod, bacterial flora and larval helminth parasite infected different species of the mudskipper (Clayton, 1993; Table 18). Digeneans were more widely found in Periophthalmus chrysospilos than in Periophthalmus novemradiatus. Periophthalmus chrysospilos maybe served as main host by digeneans (see section 3.2). The parasites have specific attachment organs enabling them to hold onto the hosts for nourishment and transport (see section 1.2). Digeneans cysts could be found in the gills of the fish. Moreover, the gills chamber of the gobiid fishes is important macrohabitat for digeneans to complete their life cycle (see Zander, 2004; c.f section 3.1). The adult of digeneans (migrate from first intermediate host) hide within the abdominal cavity of the gobiid fishes and the attachment of these parasites may induce the mortality of their host (Pampoulie et al., 1999). Monogenean (Gyrodactylus sp.) has a direct life cycle in the fish (Cheng, 1986). Monogeneans are gill-inhabiting parasites (Bunkley-Williams E. H. Williams, 1994). This species parasite also can be found on the fins, in the alimentary tract or on other parts of fish (Lim, 1979). The gills are important to monogenean. This parasite feeds on blood which is accessible in the gills (Lim, 1987). Monogenean seems to be host specific since only Pseudapocryptes lanceolatus harboured these parasites in the study area (see Table 4). Pseudapocryptes lanceolatus have longer gill filaments rather than other mudskipper specimens. The function of the gills almost similar among fishes, whereas the morphology of the gills differs based on fish species (Lim, 1979). Monogenean has a low parasitic infection among the mudskipper species along the Selangor coast (see section 3.4). A huge quantity of unidentified parasite cysts could be found from Boleophthalmus boddarti (see section 3.2; Table 5). Boleophthalmus boddarti may be the main host for the unidentified parasite cysts if it is compared with Periophthalmus novemradiatus. Periophthalmus novemradiatus was probably served as occasional host by these unknown cysts because of its lower infection rate (see. Zander Reimer, 2002). The parasite cysts found in oxudercine gobies probably were considered as the myxosporid (in the gills) or the cysts of cestode or nematode (in the gut) (see Chapter 3). These cysts are apparently not digested by the host (Zander Reimer, 2002). No current study shows that theses parasites could obviously have impact on the biology of the mudskippers. Cestode and nematode could be found in Periophthalmus novemradiatus and Periophthalmodon schlosseri (see Table 2; Table 3). Most were found in encysted form from the gut dermis of the mudskippers. Instead, the adult cestode has attachment hooks (see section 1.2), and the gut (see Table 3) is probably acted as a preferred site by them. Their attachment on the gut dermis of the host may be related to the nourishment that the gut provides (Cheng, 1986). The unidentified parasite cysts, digenea, nematode and cestode were recognised as gut parasites (see Table 3). The oxudercine gobies (mudskippers) may serve as their intermediate host. The 5 groups of parasites showed different prevalence, intensity and abundance (see. Section 3.4). The gobiid fishes have a low prevelance, intensity and abundance of parasite (Camp et al., 1999). The low abundance indicates that such a parasite could not obviously bring the host to death (Pampoulie et al., 1999). Parasite distribution is more clumped than expected due to the host species and the environmental effects (see section 3.5.1). They do not follow a specified distribution in a macrohabitat (see section 3.5.3). Most parasites attach on hosts by using their distinctive adhesive organs (see section 1.2). Different species of parasites may metabolically depend on a host at different levels (Cheng, 1986). They may bring bad effects or damages to the host (Zander, 1998). Further experimental study on the effect of parasites on mudskippers is needed. 4.1.2 Host species and their occurrences Mudskippers are euryhaline organisms and they typically inhabit in mudflat and mangrove areas (Clayton, 1993). According to a previous study (from year of 1984 to 2004), 17 species of mudskippers which distribute along the Selangor coast were collected for taxonomic research. In this present study, 7 mudskipper species were caught and examined for parasites (see Appendix A5). A total of 127 mudskippers were collected at random, along the Selangor coast (Table 2). The length (L) of specimens principally ranged between 3.90 and 16.00 centimetres. The weight (W) was noted to be from 0.40 to 108.10 gram. It is suggested that the specimens consist of the mudskippers from different generation stages. Mudskippers are restricted to different environments (Khaironizam Norma-Rashid, 2004). Boleophthlmus, Pseudapocryptes and Scartelaos are more recognised as an aquatic species than Periophthalmus and Periophthalmodon (Clayton, 1993). Periophthalmus novemradiatus is a vast parasitic-infected species with various parasites being found from it. These species of mudskippers are commonly found along the straits of Malaysia (see Appendix A1). Periphthalmus modetus is rarely found on Selangor coast (see Appendix A1). This species is often found in East Pacific region (see Appendix A1). The food content of fish may provide information on the life cycle of the parasite (Mhaisen and Al-Maliki, 1996). Unexpectedly, the diet of the mudskipper specimens is almost similar among each others. In this case, it is not an important clue to determine the parasitic infection on mudskippers. The mudskippers commonly take fish plankton, seaweeds, crustaceans and copepods as foods, while some of them prefer to eat seashells or insects (see Table 2). Apart from that, the preferences of each mudskipper species differs based on their own behaviour and food accessibility in a region. Periophthalmodon sp are recognised as carnivorous while Boleophthalmus sp is categorised as an herbivore (Clayton, 1993). The abundance or richness of a mudskipper species in an area or habitat is determined by preferences of a mudskipper on the substrate circumstance or the presence of muddy substratum and accessibility of food supply (Khaironizam Norma-Rashid, Y., 2005). 4.2 Factors affecting species distribution of parasites The environmental factors may restrict the intensity and distribution of parasites on a host (Zander, 2002). The quantity of parasite is possibly influenced significantly by pH and the salinity of water from different study areas (refer to section 3.5.2). The existence of a distinct parasite is probably affected by the environment of macrohabitat (ecosystem) and microhabitat (hosts inner condition) (Pampoulie et al., 2004). Parasites are able to inhabit in extreme environments (Cheng, 1986). The host species obviously restrict the occurrence and distribution of certain parasites in a particular area (see Chapter 3). Moreover, the occurrences of parasites also depend on the tolerance of their host as well as in brackish water (Zander Reimer, 2002). Monogenean is host specific (see section 3.1). This parasite was only found from site Carey Island 1 which was recorded to have 11 and 7.44 pH of water. It has a low abundance along the Selangor coast (see Table 9). Besides this, cestode, nematode and digenea are less specialised to oxudercine gobies and the environment in a study site (see section 3.1-3.3). These parasites are more generalist to pH and salinity of water because they are widespread in a wide range of pH (see table 7). They develop their life cycle based on their own optimum condition (Cheng, 1986) and the occurrences of their distinct host (Zander Reimer, 2002). In this case, the occurrences and abundance of parasites are determined by environmental changes. The parasites may tolerate into different characteristics, such as the type of water or environment. The pressure of the environment such as the salinity and pH of water would affect the intensity and abundance of parasites (Zander Reimer, 2002). The parasites will clump in a favourable environment. Thus, the occurrences of parasite is determined by the adaptation of the parasite as well as its host in a ecological system (Zander Reimer, 2002; section 3.5.2) The preference of a parasite towards the different species of hosts (see Table 9) differs with each other, based on the study areas. The 7 study areas have ecological differences. Site Carey Island 1 is situated near an oil palm estate and estuarine area where the water level is always constant. Site Carey Island 2 and site Carey Island 3 are in a river bank area. The fishes from Jeram were collected from mud flat or mud bank. Sementa is located in the mixed forest zone of mangrove area. Whereas the field area in Morib where fish collection was carried out is a vast sand mud beach site. The area is situated nearby the mangrove forest. 4.3 Limitations It was not easy to obtain a complete mudskippers collection from Selangor coastal area for parasitological study in such a limited time. The best time to catch the mudskipper as during spring tide. Not all the mudskipper species from Selangor coastal area were included into the statistical analysis. The samples sizes were not in a sufficient number for data analysis because the specimens were collected randomly from different studied areas. Thus accuracy of the data analysis maybe affected. 4.4 Suggestions for further study It is important to have a sufficient number of mudskippers to observe, so as to ensure a good study. Investigations should be carried out throughout the whole coastal area in Malaysia. The research areas may include the area along the West and East Strait of Peninsular Malaysia, Sabah or Sarawak. Diversity of oxudercine gobies and parasite species of mudskippers could be discussed between Strait of Peninsular Malaysia or East and West Malaysia. A complete study should be formed for different species of oxudercine gobies. Gobies play an important role as a transmitter of a parasite. Parasites may capitalize within the food webs in an ecosystem. Dietary studies may give information about the life history of gobiid parasite. A histological work could be carried out to study the damage of the host by the parasite. Different types of parasites have different preferences on the host species and the attaching site. The effect on the host due to the attachment of parasites as well as certain species of parasites could be investigated. Species identification of parasites should be done. This will be useful for parasite taxonomy work (parasites were stained for morphological study), histological work and further study of gobiid parasites. This project already sets up a good baseline data for gobiid parasites. Various literatures and information sources on gobiid parasites have been cited, and a general introduction about oxudercine gobies and their distribution has been done. A database about parasites on oxudercine gobies (mudskippers) should be set up to share this information with other people. . Table 18: Parasite Record of Previous Study and Present Study Based on Oxudercine Gobies (Mudskipers). Host Species Parasite Record Previous Study Present Study Boleophthalmus boddarti Intestinal flagellate, agamofilial and Unidentified parasite cysts acanthocephalid cysts, cestode Pseudapocryptes lanceolatus Parasitic copepod Monogenea Periophthalmus novemradiatus Cannot be found Digenea, cestode, Nematode, Unidentified parasites cysts Periophthalmus chrysospilos Cannot be found Digenea, cestode Periophthalmus modestus Bacterial flora Cannot be found Periophthalmodon schlosseri Larval ascarid nematode, cestode, Nematode, Cestode agamofilial and acanthocephalid cysts, acanthocephalan species, parasitic Copepod Scartelaos histophorus Parasitic protozoan, myxosporidian Cannot be found sporozoan, heterophyid fluke References Abu Khair Mohammad Mohsin Mohd. Azmi Ambak. (1996). Marine Fishes And Fisheries of Malaysia And Neighbouring Countries. Universiti Pertanian Malaysia Press. Serdang, Malaysia. Agbayani,Eli. Mudskippers.(1999) www.fishbase.org Viewed August, 2005 Albert, O. 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Interscience Publishing, Inc. Vol 2. Zander, C.D. (1998). Colonization and Seasonality of Goby (Gobiidae, Teleostei) Parasites from Southwestern Baltic Sea. Parasitol Res. 84:459-466. Zander, C.D. (1998). Ecology of Host Parasite Relationship in the Baltic Sea. Naturwissenschaften. Vol 85:426-436. Zander, C.Dieter. (2004). Four-year Monitoring of Parasite Communities in Gobiid Fishes of the South-Western Baltic II. Infracommunity. Parasitology Research. Springer-Verlag GmbH. Volume 93, Number 1. Pages:17 29 Zander, C.D., Kocoglu, O., Skroblies, M., Strohbach, U.(2002). Parasite Populations and Communities from the Shallow Littoral of the Orther Bight (Fehmarn, SW Baltic Sea). Parasitol Res. 88:734-744. Zander, C.D., Strohbach, U., Groenewold. S.(1993).The Importance of gobies (Gobiidae, Teleostei) as Hosts and Transmitters of Parasites in the SW Baltic. Helgolander Meeresuntersuchungen. 47:81-111.

a dolls house - 1153 Words

A Doll’s House South University Ibsen’s a doll house centers around a time where men worked and women were the care givers of the home. In a Doll’s House there were some major points made that eventually led up to that one defining moment. The defining moment for me was when Nora decided that she no longer wants to live the lifestyle of being the â€Å"doll†. It starts with Torvalds reading the letter about her borrowing the money and Nora’s secret is finally exposed. Nora and Torvald to outsiders, seem to have the perfect life. They seem like a happily married couple with no worries in the world. But little do they know a lot goes on behind closed doors in their home. There are serious financial issues†¦show more content†¦She then says â€Å"In all these eight years--longer than that--from the very beginning of our acquaintance, we have never exchanged a word on any serious subject†( Ibsen, 2011, Act III) . Most of their relationship centered on a lot of playfulness so it was really sad that it took a lie for them to finally act like a married couple. Throughout the play I often thought of Nora and Torvald as father and daughter because they gave me that impression and Nora even says â€Å"And you have always been so kind to me. But our home has been nothing but a playroom. I have been your doll wife, just as at home I was Papa s doll child; and here the children have been my dolls. I thought it was great fun when you played with me, just as they thought it great fun when I played with them. That is what our marriage has been, Torvald† (Ibsen, 2011, Act III) .If I was an outsider looking in I would think that. Granted, there was love in the relationship but then you have to think about what married couples actually do. When Nora decided to finally leave Torvald it was a shocker for me, but when she left her children behind I felt as if she was very selfish on her part. I understand leaving your husband because you are not happy in your relationship but to leave your kids did not sit well with me. I often wondered what made Nora leave her children behind. Was she just now trying to live her life after being in an unhappy home forShow MoreRelatedA Doll HOuse941 Words   |  4 PagesIn the play A Doll House, there are many references pertaining how a woman was expected to behave and how men were expected to behave in the time that this play was written. Nora’s character first appears to be very â€Å"female†. For an example, she doesn’t have a real job, she spends money carelessly, and she say and do things to make her appear very dependent on Torvald. On the other end Torvald her husband, makes the money for the family and he appears to be the nice one in the house. Role playingRead MoreDoll House799 Words   |  4 PagesIn A Doll’s House by Henrik Ibsen, a woman named Nora is facing a life altering situation that stands to both ruin her social and private life. In dealing with the potential outcomes of the scenario, Nora comes to find that she has been living a convenient mistruth. Nora’s greatest and most damaging lies are lies she tells to herself. As is seen numerous times throughout the play, Nora hides, withholds, and distorts the truth in order to please everyone around her, including herself. Nora is presentedRead MoreA Doll s House : Dolls2775 Words   |  12 Pages A Doll’s House: Dolls in Real Life Introduction Today, the accepted roles of both women and men judged by society’s expectations is an extremely controversial topic. Feminism is a battle that many women are fighting, because even though today’s women can be and accomplish almost anything, men often play the more superior role in many relationships. The role of women has been viewed differently throughout different points in history and in different areas. However, many people don t realize thatRead MoreA Doll s House : Dolls2775 Words   |  12 Pages A Doll’s House: Dolls in Real Life Introduction Today, the accepted roles of both women and men judged by society’s expectations is an extremely controversial topic. Feminism is a battle that many women are fighting, because even though today’s women can be and accomplish almost anything, men often play the more superior role in many relationships. The role of women has been viewed differently throughout different points in history and in different areas. However, many people don t realizeRead MoreAnalysis Of A Doll House 846 Words   |  4 PagesDoll house Nora’s marriage has been a sham ever since the start. By the standard of modern day, she has legitimate ground to leave her husband Torvald. Because Torvald only cares about his image, he treats Nora as an object rather than a wife, Nora has never been taken seriously by her husband, and Torvald only loves her for her appearance. Torvalds image is of great importance to him considering now he is a bank manager, and he will not allow anything standing in his way to ruin this imageRead MoreSymbolism In A Doll House1039 Words   |  5 PagesIf you read Henrik Ibsen’s â€Å"A Doll House† from a literary perspective, you will see a story about this â€Å"perfect† family, but if you just dig a little deeper you will see there is a whole lot more to this play than the eye first sees. You soon find out that this perfect family is not so perfect after all. From a symbolic perspective â€Å"A Doll House† is about marriage, respect, feminism, and how Tor vald’s family is like a doll house. Nora’s actions are very shocking to the general public that this bookRead MoreA Dolls House Essay790 Words   |  4 PagesIt has been said that, some people think that it’s holding on that makes one strong; sometimes it’s letting go. In Henrik Ibsen’s A Doll’s House, Nora’s departure becomes the controversial topic of debate for many readers; was Nora Helmer justified in leaving her husband and kids or not? It is argued that both parents are needed for a child to succeed in life and that separation is an act of cowardness. However, several readers also debate that Nora was justified in leaving Torvald and her kids.Read MoreSymbolism in A Doll House1501 Words   |  7 Pages456 The Use of Symbolism in A Doll House Author Margaret Trudeau once said, â€Å"I can’t be a rose in any man’s lapel† (â€Å"I Can’t Be†). This quote expresses exactly what was going through many women’s minds during the 1800’s in Norway. Women had let their husbands control their lives for ages before the 1800’s. 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Torvald’s personal consumption of appearances shows how he treats his wife and home and personal pride. Torvald’s wife Nora is the center of several of the traits that classify him as a morally ambiguous character. Nora is more like a possession to Torvald than a soul mate or wife. She is like a doll to him, something that he

Rational Natural and Open Systems Perspectives †Assignmenthelp

Question: Discuss about the Rational Natural and Open Systems Perspectives. Answer: Introduction: Caf Paradiso is a caf, which is situated at a very convenient place, which will, is a very good for starting a caf. Brendan and Margaret Elliot want to start a new business. This caf is located at a Victoria Garden shopping centre which is has a great number of passing shoppers. As there are very small number of caf available near this location so this is going to be a great opportunity for them to start a business. They are well experienced with the caf business, as they have successfully operated a number of cafes before, so they are not new to the business and know the details of the business. The start of this new caf will increase their market share from 35%, which they hold previously to 40% within a year time (Altinay, Paraskevas and Jang, 2015). When one is running a business, it is easy to be bogged down in day-to-day problems and forget the bigger picture. However, successful businesses invest time to create and manage budgets, prepare and review business plans and regularly monitor finance and performance. Structured planning can make all the difference to the growth of your business. It will enable you to concentrate resources on improving profits, reducing costs and increasing returns on investment. In fact, even without a formal process, many businesses carry out the majority of the activities associated with business planning, such as thinking about growth areas, competitors, cash flow and profit. Converting this into a cohesive process to manage your business' development does not have to be difficult or time-consuming. The most important thing is that plans are made; they are dynamic and are communicated to everyone involved. Benefits from the Budgeting Plan There are a number of benefits of drawing up a business budget, including being better able to: To manage your money effectively To allocate appropriate resources to projects To monitor performance To meet the objectives To improve the decision-making To identify problems before they occurand such as the need to raise finance or cash flow difficulties To plan for the future To increase staff motivation Staff Re-organization Brandon has knowledge in the past of working as a chef and well experienced in the field. He will work actively in the caf and will contribute to the fullest. Margaret Elliot has a degree in the hospitality and has experience in that field. Both of them will contribute in the business and apart from that, they have agreed to retain two staff members who used to work in this caf previously so that they could maintain relationship with the old customers. Other than, this they have planned to hire four new staff amongst them two will work on part time basis and two will work permanently (Armstrong and Taylor, 2014). As the caf is under a transition phase, it is very important to retain the old customers. The old staff members will play a key role in doing the work. The members have to understand the objective of the business and act accordingly. The objective of the company is to provide high quality coffee and other meals. The quality of service should be the highest priority for the caf and it emphasizes on the satisfaction of the customers (Berthelsen et al, 2014). The staff members should be very service oriented and they should maintain the service quality of the caf. The members should provide the best service quality possible. They should try to analyze the need and want of the customers very accurately and render service adequately. They should be given proper training and be explained with the objective of the company in detail so that they could align their service accordingly (Blay-Palmer and Knezevic, 2015.). As the caf is going through a transition phase, it is a very important time for the business. During this time, the owners and most of the staff members are changing while retaining only two of the old staff. During this time, the caf will try to retain its old customer, whereas making new customers. The customers can only be retained through quality product and quality services. Therefore, the staff members should act accordingly. The aim of the business should always be kept in mind and the actions are to be conducted accordingl y (Buttigieg et al, 2016). Every member should be equally divided with particular task and it should be made accountable for that particular task. In addition, regular assessment should be carried out about the performance of their work (Chia and Round, 2015). Impact of marketing initiatives and campaign The company wants to successful transition of the business from the previous owner to the current owner and wants to retain their old customer base. They at increasing their market share in the industry, which previously was 35% to 40% so that they have a better grip in the industry. They also wants to generate a before tax margin of 20 % (Cokins, 2017). The company in order to achieve their objective is taking some marketing measures such as they have retained two of the key staff members for the previously running business of that caf as they have a relation with the customers, which will help the business to retain the old customers. Apart from that, they also plan to change or upgrade the signage of the caf, which will help to attract the customers. Signage plays a very important role in attracting customers and they try to grab attention of the customers thereby increase the number of visiting customers. The company has thought not to increase the cost and to function on the previous price, which will help to grab the customers. As the customers are price oriented so this strategy will work to increase the base of the customers. However, there will be a up gradation will be done regarding the caf but there will be no increase in the price of the items. This can only be done on controlling the cost. If the cost is controlled this will give them an advantage to compete on the price (Dai et al , 2014). Apart from these common strategies, the company is planning to take some more aggressive strategies in order to make some marketing plans to give some advantage to the business. The aggressive marketing strategies will help to fetch business and will create a platform for the company, which will help to compete with its competitors. These will strengthen its position in the market and people will be more aware about the company. Such a marketing strategy will create a advantageous positioning for the company. Aggressive strategy may include advertisement on digital and print media and other initiatives such as discounts and offers (Dewe,2016). The staff of the restaurant is to be divided into two shifts and the workforce should be divided equally according to their skills. Shift 1 - Comprising of 6 members that include 2 waiters, 1 cooks, 1 Receptionist and 1 Manager, 1 cleaning staff (Shift timing Morning 10 am 4 pm) Shift 2 - Comprising of 6 members that include 3 waiters, 1 cooks, 1 Receptionist and 1 cleaning staff (4 pm 10 pm) The table, sheets, and the room should be cleaned every day so that they look clean and tidy. The cleaning staff should clean the toilet twice every day. The receptionist should see that there is change in the billing counter. The kitchen staff should see that the kitchen stays clean and all the materials are available or not. If there is a shortage of a particular material then it is to be made known to the manager (Elsawah et al, 2015). The manager is responsible for the smooth functioning of the restaurant. It is the duty of the manager to solve any problem that may arise and to see that each member carries out his or her respective duties properly. Waiter should see that the customer are provided with best service possible as they play a great role as getting into direct contact with the customer. They need to provide swift services in the best possible way. All the members should come one hour early to get the briefing of the day. The restaurant wants to increase their sale by 10% so the waiter should try to sell the products. The marketing strategy should be simple and they should focus on the target customers. To attract the customers the caf should have an attractive signage and they should offer attractive discounts and offers so that it can pull customers (Gal, Stewart and Hanne, 2013). Up gradation of facilities The facilities are to be upgraded in comparison to the modern day caf so that it can compete with its competitors. Better services are to be provided with better ambience. The caf should be well decorated with comfortable seats and good lighting which soothing to the eyes. There should be only one shift that is maintained the staff members should work from 10 am in the morning and until 10 pm in the right. The briefings for all the members are to be done by the manager every day. The cleaning staff will see that everything including kitchen is clean. Proper cleaning is to be done. It is the duty of the manager to see that all the duties are to be performed by the members. If any problem arises by their respective person who is responsible for that particular situation, in that case the particular person should take care of that situation. The kitchen staff should do the procurement for any kind of kitchen stock or raw materials. The waiter should see that the ambience should be maintained properly. Manager will not be responsible arising and any such problem is to be solved by the respectable person in relation to that particular work (Zurich, 2017). The restaurant wants to establish itself as the best Chinese restaurant in the town as they have good chief for Chinese food. So more focus should be given on it The marketing strategy should be aggressive in nature and they should give advertisement on local digital and print media so that more number of customers is attracted towards the caf. This will help to develop a customer base for the business and shall also help to stabilize the business after the change that is going to take place. The caf should focus on the up gradation of the quality, they should try to improve the quality of their food products and beverages, so that it helps to compete with others caf. There should be some changes made in the work practices, the customers should be given high priority and they should be provided with the highest quality of services possible so that they stay satisfied. In this way, it will help the caf to retain its customers and thereby help to increase its business (Haimes, 2015). Waste of time To create a budget is very important as it gives us an idea about what are the total expenses that can be incurred. The budget may not exactly match with the reality but they give us a fair idea what amount of expenses will be faced by us. The budget is created by taking the previous year expenses keeping in mind. The expense that is incurred previous financial year gives us a fair idea about how much budget is to be calculated this year (HakemZadeh et al, 2016). In order to modify a budget there are many factors that are needed to be considered. We need to consult the budget of the previous year and accordingly formulate the budget. It is hard to understand the factors that will play a role in the budget and what changes are to be made from the budget of the previous year (Kline, 2015). Budgeting is a very sensitive thing, it is a calculated assumption, so we cannot be one hundred percent sure about the budget but we need to go as close as possible. Every year the amount of expenses, changes and accordingly the changes are to be made in the budget. What are the factors that will change is hard to understand and predict. Through budgeting, we try to go as near as possible to the exact expenses (Norton and Schofield, 2017). The Funds that is being allocated for a particular set of things are to be allotted accordingly keeping it as same as possible. If there is, an extreme need to change the amount that is allotted in the budget is to be changed as minimal as possible. It is to be kept in mind that budget is a whole plan or framework upon which the business function of the financial year will be based and it is keeping many factors in mind. Therefore, if we make massive change in the budget, in that case it may have negative effect on the business (Scott and Davis,2015). The stakeholders are to be informed about the budget of the organization, so that they have a fair idea about the companys act and so that they can act accordingly. This will help them aligning with the budget and they will also have an idea about how much the company is willing to invest on what and act accordingly (Trishkina, 2014). The resources are to be divided under some categories according to their expenses. There are some resources upon when expenses are regular in nature and there are some expenses, which are not frequent (Van der Wagen and Goonetilleke, 2015) .There are also some expenses that happen in an organization, which occurs at by chance. These expenses are categorized and each category is then allotted with a budget and then this budget is divided amongst the expenses (Vincent et al, 2014). The budget built a frame work of how the company and its stake holders will function and this also gives a guideline of how far the company is willing to bend in terms of expenses and what are its limitation. Budgeting is a very important factor in terms of functioning of the company. Without the help of the budget, it will be extremely difficult for the company and its stakeholders to function. So the budget is to be given outmost respect and maintained strict as much as possible and if the rules are to be bend in that case it is to be seen whether it is good for the organization or not, so that there is no negative effect to the organization (Ward, 2016). References Altinay, L., Paraskevas, A. and Jang, S.S., 2015.Planning research in hospitality and tourism. Routledge. Armstrong, M., and Taylor, S. (2014).Armstrong's handbook of human resource management practice. Kogan Page Publishers. Berthelsen, R.M., Barkley, W.C., Oliver, P.M., McLymont, V. and Puckett, R., 2014. Academy of Nutrition and Dietetics: Revised 2014 standards of professional performance for registered dietitian nutritionists in management of food and nutrition systems.Journal of the Academy of Nutrition and Dietetics,114(7), pp.1104-1112. Blay-Palmer, A. and Knezevic, I., 2015. 22. Building sustainable communities through alternative food systems.Handbook on the Globalisation of Agriculture, p.446. Buttigieg, S. C., Buttigieg, S. C., Gauci, D., Gauci, D., Dey, P., and Dey, P. (2016). Continuous quality improvement in a Maltese hospital using logical framework analysis.Journal of health organization and management,30(7), 1026-1046. Chia, A.,and Round, H. (2015). A Developmental Learning Framework for Business Report Writing: Guidance for Management Educators.Journal of Adolescent and Adult Literacy,45(7), 556-566. Cokins, G., 2017.Strategic business management: From planning to performance. John Wiley Sons. Dai, J., Jiang, W., Liu, G., Xu, J., Zhao, L. and Liu, A., 2014, June. Rating Aware Route Planning in Road Networks. InInternational Conference on Web-Age Information Management(pp. 223-235). Springer, Cham. Dewe, M., 2016.Planning public library buildings: Concepts and issues for the librarian. Routledge. Elsawah, S., Guillaume, J. H., Filatova, T., Rook, J., Jakeman, A. J. (2015). A methodology for eliciting, representing, and analysing stakeholder knowledge for decision making on complex socio-ecological systems: From cognitive maps to agent-based models.Journal of environmental management,151, 500-516. Gal, T., Stewart, T., and Hanne, T. (Eds.). (2013).Multicriteria decision making: advances in MCDM models, algorithms, theory, and applications(Vol. 21). Springer Science Business Media.. Haimes, Y. Y. (2015).Risk modeling, assessment, and management. John Wiley Sons. HakemZadeh, F., HakemZadeh, F., Baba, V. V., and Baba, V. V. (2016). Toward a theory of collaboration for evidence-based management.Management Decision,54(10), 2587-2616. Kline, R. B. (2015).Principles and practice of structural equation modeling. Guilford publications. Norton, S. B., and Schofield, K. A. (2017). Conceptual model diagrams as evidence scaffolds for environmental assessment and management.Freshwater Science,36(1), 231-239. Scott, W. R., and Davis, G. F. (2015).Organizations and organizing: Rational, natural and open systems perspectives. Routledge. Trishkina, O., 2014. Marketing plan for company X. Van der Wagen, L. and Goonetilleke, A., 2015.Hospitality Management, Strategy and Operations. Pearson Higher Education AU. Vincent, K., Dougill, A.J., Dixon, J., Stringer, L.C., Cull, T., Mkwambisi, D.D. and Chanika, D., 2014. Actual and potential weather and climate information needs for development planning in Malawi: Results of a Future Climate for Africa pilot case study.Future climate for Africa pilot case studies. Retrieved from https://cdkn. org/resource/climate-information-decision-making-malawi. Ward, J., 2016.Keeping the family business healthy: How to plan for continuing growth, profitability, and family leadership. Springer. Zurich, L. B. (2017). Service Operations and Management.

Multicultural Training Philosophy an Example by

Multicultural Training Philosophy by Expert Jayjay1 | 15 Dec 2016 The current face of American education has undergone a major facelift. Years ago, Martin Luther King had a dream that all men and women would be equal and all students would be equal. Our laws and progression of civil rights and immigration has changed the United States Public Education System. Racial inequality and color prejudice has affected the American education system through legislation that was meant to help students. Educational theories and classroom practices have taken new forms in order to conform and meet the educational needs of the global societies. Need essay sample on "Multicultural Training Philosophy" topic? We will write a custom essay sample specifically for you Proceed The best custom essay writing company is EssayLab, just give us a try! Educators and teachers are being expected to share views and recognize values from different cultures, races, societies and ethnic groups. They are expected to move outside the system and custom of the dominant society and incorporate beliefs other than those they are accustomed with. Our laws and progression of Civil Rights and immigration has changed the United States public education system. The challenges that face our nations children relates to the civil right movements and immigration laws that have guided us to a direction of multicultural education. Persity and inclusion in the United States is very much apparent at schools and universities. However, though the school population is becomingly more perse, most of the schoolteachers and educators are white and female. Record shows that 87% of the teacher population is white (Banks, 2001). This is why adding multi-cultural education to the curriculum is so important. Schools are struggling to teach English to both African and Latino students because the first evident reason was that Latino students spoke Spanish at home. Multiculturalism was proposed to expand culture for American schoolchildren. Educators wanted students to respect racial and ethnic minority groups and they wanted the self-image of the minority children to be changed (Stotsky, 1999). In 2001, President George Bush signed into law his No Child left Behind Law, which consolidated the US Department of Educations bilingual and immigrant education programs. The plan focuses on teaching English to student as quickly and effectively as possible. Senators from Utah and Illinois Orrin Hatch, a republican and Richard Durbin, a democrat, proposed the DREAM Act in July 2003. Under the Senates proposed DREAM, which stands for Development, Relief and Education of Alien Minors Act, students who graduate from high school would be eligible for a green card. There are those who want to reform the way we educate illegal immigrants, saying that the total K-12 school expenditure for illegal immigrants costs the states enough to buy a computer for every junior high student nationwide. The tax dollars that it is costing Americans to pay for educating illegal immigrants is costing American students academically. Immigrant children have the right to an education, as do all children. The links between illiteracy and illegal immigration is astounding. Hispanic immigrants come to the United States without having the basic literacy skills needed. Teachers in Texas are finding that their classes are mostly English language learners. Bilingual assistants are there to translate to students and teacher regarding teaching information and notes; they are also there to translate during parent teacher conferences. The state of Texas requires that each local school district establish a language proficiency assessment committee to review the proficiency and achievement-level for each student whose primary language is not English. The committee classifies the student and recommends placement and help to benefit the student (Stewart, 1993). It is noticeable that one main agenda of the proposed multi-cultural education agenda is to unite the perse American population. The important goal is to help people achieve and acquire the much needed skills, confidence, and knowledge to function effectively in the pluralistic society (Gay, 2000). It should help students to be armed with respect and dignity, whatever his or her background, in facing a moral community that is striving for a common good. References Banks, J.A.B. (2001). Multicultural education: Issues and perspectives, 4th ed. New York: John Wiley and Sons, Inc. Gay, G. (2000). Culturally responsive teaching: Theory, research and practice. New York: Teachers College Press. Stewart, David W (1993). Immigration and education: The crisis and the opportunities. New York, NY: Lexington Books. Stotsky, Sandra (1999). Losing our language. New York, NY: The Free Press.

Strategic Analysis for Imax Essay Example

Strategic Analysis for Imax Essay Example Strategic Analysis for Imax Paper Strategic Analysis for Imax Paper Term of Refrences: We have refered to the book that was assigned to us in this semster which is Management (10th edition) by Stephen Robbins, Mary Coulter and Nehrika Vohra. We also consulted Strategic Management: An Integrated Approch (8th edition) by Charles Hill and Gareth Jones. Another two books that helped us to analyse this case study were Startegic Management : Creating Competitive Advantage (5th edition) by Gregory Dess, G. T Lumpkin and Alan Eisner and Strategic Management (6th edition) by John Pearce and Richard Robinsons Description of Report: In Section 1 we analyize the corporate strategy of IMAX corporation followed by their integration strateges. In Section 2 we access the comparitive advantage of IMAX Corporation. Section 3 talks about the effect of enviorment on IMAX, both internal and external. Section 4 is the breif discussion of Industry Analysis and how IMAX has been performaing compartivily with the rest of the firm, then followed by EFE Matrix. In Section 5 we have calculated and interpreated the financl ratios of IMAX Corporation. SECTION 1: CORPORATE STRATEGY A Corportae strategy is one that specifies what business a company is in or wants to be in and what it wants to do with those business. It ¶s based on the mission and goals of the organization. Mission on IMAX as stated by co-CEO Gelfond is : ? It ¶s[IMAX] is designed to deliever the worlds most immersive movie experience? IMAX designs and manufactures large image producing format cameras and projection system as well as film development,production, post production and distribution to IMAX affiliated theatres worldwide. IMAX has about 400+ theatres in 47 countries. IMAX ¶s strategy is to entice consumers happiest infront of 60-inch plasma screen TV. In order to get a consumer out of his home and make him go and watch an IMAX format movie, the company needs to give them something amazing and something special. And IMAX does it. INTEGRATION STRATEGIES There are basically two types of integration 1. Vertical Inegration 2. Horizontal Integration Page | 1 Vertical Integration The process in which several steps in the production and/or distribution of a product or service are controlled by a single company or entity, in order to increase that companys or entitys power in the market place. IMAX is into vertical integration as it is into processing, distribution and exhibition of its own films. Vertical integration is further sub divided into two parts and that is 1. Forward Integration 2. Backward Integration Forward Integration: Gaining ownership or increased control over distributors or retaliers. When an organization becomes its own distributor its called Forward Integration e. g. a manufacturing firm open up its own franchise. In such situations the organization has control over the output. IMAX initialy was focused on large format films that were educational yet entertaining and the theatres were located in institutions, museums, aquariums and national parks. IMAX forwrad integration took place when it become the distributor of its own produced films. IMAX is relatively small when it comes to rival studios and theatres but in itself IMAX is the leader in the industry when it comes to producing image in large format. IMAX not only played its films in its own theatres but gives its films to other theatres so that they would further promot the movie. Backward Integration: Backward integration takes place when an organization becomes its own supplier. As we have earlier discussed IMAX was mainly focused on producing films that were of large format. To do so obviously they would require special cameras, projectors, screens etc. From past 15 years IMAX has aquired the ownership of the companies listed below: y y y y y y y IMAX Corporation acquiring Imagery Rentals (September 07 1995) Acquiring minority shares in Mainframe Entertaintment Inc. ( June 1999) Acquiring Sonics Associates Inc. 2009 whole ownership) Acquiring David Keighley Production. Acquiring Digital Projection Int Ltd. (September 27 2000) Acquiring Cinema Plus Ltd. (October 29,2006) Acquiring a minority stakes in Laser Light Engines Inc. (July 14,2010) IMAX has a subsidiary company (meaning IMAX has 51% ownership in that company) Sonics Associates Inc which is an audio develpement company. It manufactures the sound systems for IMAX. And David Keighley Production,which i s wholley owned by IMAX, works on the post prouduction. Most of the firms above mentioned were the suppliers to IMAX. In this way IMAX has reduced the chances of suppliers effecting the prices. When IMAX has made itself independent in manufacturing all the aspect required to deliever as high quality large format film, it has access to all the new technology which is an essntail element in survival of IMAX. Page | 2 So we can see that through backward integration IMAX has made itself more stronger by being its own suppiler. In this way it has ganied control over the technology and cost to manufacture the systems that produce 2D or 3D images or audio system. Horizontal Integration When an organization reduces the competition by combinig with its competitors. In case of IMAX it had only two competitor that too produced images in large format. One was which Iwerks which produced films in 15/70 and 8/70 format and ride simulations but its main focus was on the later. Another rival was Megasystems which manfactured large format projection system and provided technical services. But as IMAX has expanded itself to the commercial business but converting an 35mm Hollywood films into large format, Iwerks didnt do that. It limited itself to ride simulation packages that are located in theme parks or museums and such other locations. Megasystem later stopped its production of projction systems and renamed itself to Pollavision. Now Pollavision is only involved in consultancy services of the large format film theaters. If we just analyize these three organizations i. e. IMAX, Iwerks and Pollavision, all of which were the manufactures of high definiton image producing projection systems, then the only organization left in the market that converts commercial movies into large format is IMAX. Its as good as a Monopolist in this feild. And if we analyize IMAX in the category of Studios and theaters, then IMAX is relativily very small. IMAX stands at 12th position when it comes to studios, Disney taking the lead with 1st position. We think it would not effect IMAX if it didnt merge with other studios. It is because of the reason that cosumers have now fully become aware of IMAX format movies,the demand of watching movie in large format is increasing. And IMAX has expereinced a growth rate of 128% in the 1st quater of 2010 alone. It if merges with other studio, it wont be able to work with rest of the studios. IMAX should launch many more commercial theatres where it can run converted Hollywood movies of 35mm to large format so that it can compete against large theatres like Regal Enternaintment Group. Page | 3 BCG MATRIX OF IMAX CORPORATION Market Share High IMAX System Sales Production of Movies Low Conversion of Movies into IMAX format Growth Rate High Low The BCG matrix is a strategic tool used to identify that which business of the organization offers high potentail and which were draining organizations resources. Accorning to the Annual report of IMAX 2007, 51. 04% of the total revenue was generated by IMAX system sales like camers, screens, projection systems etc so we added it in the Stars section. As IMAX has has an advantage over the technology of larger-than-life image production,it should invest more in in RD of the systems used to produce 2D and 3D films. We added  µConversion of movies into IMAX format ¶ in the question mark section on BCG matrix. Its is because that though now-a-days lots of studios convet their movies into IMAX format, IMAX gains not that much from it. As IMAX is not part of any studio,it doesnt get all the share in the profit. The growth is really high in converting movies but the market share is low. In the year 2008-10 IMAX only produced one documentary and that is Space Station. IMAX is orignally know for producing documentary movies but that hasnt given them the oppertunity to have a higher market share. In the motion picture industry,documentry segmant is considered significant than the others. The Motion Picture Association of America gives out seperate award for documantry movies in the grand Oscar Award. IMAX is a brand name not only for the fact that it produces larger-than-life image format but also because of its great collection of documantries which are not only educationall but also entertaining. But as IMAX hasnt produced any movie since 2008, it ¶s not growing on the pace it should. So we added  µproduction of movies ¶ in the star section IMAX should produce more movies. The dogs section of the BCG matrix is empty because there is no such business done by IMAX that should be liquidated. Its earning profit from all the three industries that it is working in i. . photographic equipment and supplies, motion picture and video tape production and Motion Pictur and Video Distribution Page | 4 SECTION 2: PORTER ¶S FIVE FORCES MODEL It helps in accessing where the power lies in a business situation. A series of IMAX Business Talks have been developed to complement the Big Screen Business Education Pack and provide student with an overview of business operations and marketing. Porter ¶s Model is actually a business strategy tool that helps in analyzing the attractiveness in an industry structure. It let you access current strength of your competitive position and the strength of the position that you are planning to attain. Porter ¶s Model is considered an important part of planning tool set. When you ¶re clear about where the power lies, you can take advantage of your strengths and can remove the weaknesses and can compete efficiently and effectively. Porter ¶s Model of Competitive Forces Assumes that there are five competitive forces that identify the competitive power in a IMAX business situation. These five competitive forces identified by the Michael Porter are: 1. 2. 3. 4. 5. Threat of substitute products Threat of new entrants Intense rivalry among existing players Bargaining power of suppliers Bargaining power of Buyers Page | 5 1. Threat of Substitute Products Threat of substitute products (film cinema) means how easily IMAX customers can switch to IMAX competitors product (film cinema). IMAX is the largest and most exciting film format in the world. With crystal clear images, ten times larger than traditional cinema format. Imagine the difference between watching a film at home on video and the same film at a normal 35mm cinema. The film might be the same, but the experience couldn ¶t be more different. Well consider the jump from traditional cinema to IMAX as a similar dramatic leap. Threat of substitute(film cinema) is high when: There are many substitute products (cinema) against IMAX are available Customer can easily find the product or service (film cinema)that Imax ¶s offering at the same or less price Quality of the Imax competitors(film cinema) product is better Substitute product (film cinema) is by a company earning high profits so can reduce prices to the lowest level. In the above mentioned situations, Customer can easily switch to substitute products(film cinema). The screens in IMAX Theatres are the biggest in the world. Up to eight stories high, they are ten times larger than a traditional cinema screen and fill the whole field of human vision. Sound is critical to the IMAX experience. The film soundtracks are delivered through a 15 000 watt digital surround sound system manufactured by Sonics Associates Inc, one of the world leaders in sound system design. Now-a-days you can find DVD ¶s and VCD ¶s with great resoultion. Even in cinema ¶s the quality of the film is really good so there might be customers who wont be willingto pay an extra $4-$5 to watch a movie in 3D. This could prove a fatel blow to the IMAX Page | 6 2. Threat of New Entrants A new entry of a film theatre into your market also weakens IMAX power. Threat of new film theatre depends upon entry and exit barriers. Threat of new film theatre is high when: Capital requirements to start the business are less Few economies of scale are in place Customers can easily switch (low switching cost) Your key technology is not hard to acquire or isn ¶t protected well IMAX film theatre is not differentiated There is variation in attractiveness of segment depending upon entry and exit barriers. That egment is more attractive which has high entry barriers and low exit barriers. Market research carried out by World ¶s Biggest Screens Pty Ltd has helped to define the IMAX brand in the competitive film market and understand the key drivers (and barriers) to attendance. The lessons drawn from the research indicate that IMAX can sustain a positioning as a premium cinema destination not simply b ecause it offers a better experience than other cinema destinations, but because it offers a very different cinema experience. IMAX is perceived as being at the cutting edge of new cinema, potentially offering new experiences in film. The IMAX. Experience gives visitors the sense of real exhilaration  ± a real  µbuzz ¶. It is also about the strong sense of realism of the film style which allows visitors the feeling of destination exploration; the feeling of  µbeing there ¶. There are main threats of IMAX film theatre: Primary threat: Conventional cinemas Home viewing: Pay TV, Video, free to air TV Other Darling Harbour Attractions: Sydney Aquarium Other Sydney Attractions: harbour cruises, shopping, Other Sydney Attractions: harbour cruises, shopping The Rocks area, Opera House tours, Taronga Park Zoo, Sydney Tower, bus tours, museums art galleries Some new film theaters enter into industry and low performing film theaters leave the market easily. When both entry and exit barriers are high then profit margin is also high but film theatres face more risk because poor performance companies stay in and fight it out. When these barriers are low then film theatres easily enter and exit the industry, profit is low. The worst condition is when entry barriers are low and exit barriers are high then in good time ¶s film theatres enter and it become very difficult to exit in bad times. Page | 7 3. Industry Rivalry Industry rivalry means the intensity of competition among the existing film theatres in the market. Intensity of rivalry depends on the number of film theatre and their capabilities. Period of uncertainty during liquidation and restructuring in 2000. Poor film line up, combined with the aftershocks of company restructuring, resulted in low attendance figures. Industry rivalry is high when: There are number of small or equal film theatre and less when there ¶s a clear market leader. Customers have low switching costs Industry is growing Exit barriers are high and rivals stay and compete Fixed cost are high resulting huge production and reduction in prices The marketing strategy will aim to achieve its objective in three key areas: The release of a minimum of 6-8 new films in each market A groups sales program with a key focus on niche visitor groups e. g. schools, groups and functions/ events. Value-based promotions to drive business in traditional ly softer trading periods The marketing strategy will be executed using the full range of the marketing mix including: Advertising Public Relations Internet/ Email Promotions Events Sales Point of Sale These situations make the reasons for advertising wars, price wars, modifications, ultimately costs increase and it is difficult to compete. 4. Bargaining Power Of Suppliers Bargaining Power of supplier means how strong is the position of a film theatre. How much film theatre ¶s suppliers have control over increasing the Price of supplies. Film marketing takes the form of a combination of elements: advertising, publicity promotions, word of mouth, website and e-communications. Films are released usually every 6-8 weeks in a staggered program timed to coincide, where possible, with key school holiday periods. The release of a new film is the prime driver to attendance. Each new film release aims to sell the IMAX experience through the title, reminding all consumers of the key IMAX proposition (i. e. IMAX is a giant screen cinema experience) whilst presenting a  µcall to action ¶ to visit the theatre again, or to trial for the first time. Page | 8 Suppliers are more powerful when Suppliers are concentrated and well organized a few substitutes available to supplies Their product is most effective or unique Switching cost, from one suppliers to another, is high Films are not an important than other The criteria for title selection are based on a number of factors: Format: 2D or 3D? 3D films have now surpassed 2D films as the most popular. There is however, a limited supply of 3D films (They ¶re more expensive to make) to choose from. Experience of similar titles: An examination of the success of previous titles and the potential audience reaction to new titles. Success of titles in other markets: If a film has performed well overseas, it may do well in Australia also. Title testing: Testing the appeal of a film title with current IMAX audiences through surveys site. Expand the market: Titles that present an opportunity to draw a new market into the theatres and encourage trial. When suppliers have more control over supplies and its prices that segment is less attractive. It is best way to make win-win relation with suppliers. It ¶s good idea to have multi-sources of supply. conducted on 5. Bargaining Power Of Buyers Bargaining Power of Buyers means, How much control the buyers have to drive down your products price, Can they work together in ordering large volumes. Buyers have more bargaining power when: Few buyers chasing too many goods Buyer purchases tickets of film theatre Film theatre is not differentiated Buyer ¶s cost of switching to a competitors ¶ product(film theatre) is low Film ticket cost is low Page | 9 Buyers are price sensitive Credible Threat of integration Our market research indicates that 78% of those who have seen an IMAX film express the intent to return. Activities to encourage this process include: Using the interior of the theatre building to highlight new releases Screening of trailers at least 3 months prior to the feature release Interior light boxes featuring coming soon films e. g. behind box office Whatà ‚ ¶s On Brochures featuring  µcoming soon ¶ films Buyer ¶s bargaining power may be lowered down by offering differentiated film theatres. If IMAX ¶ serving a few but huge quantity(tickets)ordering buyers, then they have the power to dictate IMAX. PORTER ¶S GENERIC STRATEGIES According to porter ¶ strategies allow company to gain competitive advantage from three different bases: Cost Leadership Strategy: A primary reason for pursuing forward, backward and horizontal strategies is to gain cost leadership benefits IMAX could be considered a part of three different industries: Photographic equipment and supplies, motion pictures and video tape production and motion picture and video distribution, it is called horizontal integration. The purpose is overhead is kept minimum, and the firm does everything it can to cut costs. IMAX should be produce and distribute its movies in digital format also this shift will allow it to lower its operational cost significantly. Differentiation Strategies: The unique feature of IMAX is large format films, which differentiated it with others filmmakers and production houses. Its library of films and by locating itself in prestigious venues firm had created a unique brand image. Its goal is to provide his customers with high quality entertainment and documentary movies with 3D images and distortion free sounds. For this IMAX had even developed a 3D directional sound technology that offered location and depth to the audio. If IMAX is able to continuously improve the quality and reliability of its programmes, it may have competitive advantage that can ¶t be taken away. It ¶s not enough simply to create a competitive advantage. A corporation must be able to sustain that advantage. And IMAX must be developed the skills knowledge and capabilities to design and assemble the critical elements in its projector and camera systems with technological changes. Page | 10 Focus Strategies: A successful focus strategy depends upon an industry segment that is of sufficient size, has good growth potential and is not crucial to the success of other major competitors. Growth opportunity for IMAX is to focus on retention of the customers. According to IMAX more than 20 percent of its audience were school group, about 70 per cent of its viewers were between 19 and 65 years of age, and the majority were college or university educated. IMAX needed to figure out a way to attract this demographic. To retain them IMAX should focused on educational documentaries and entertainment movies. As a result zoos, museums software, TV shows and toys were all redesigning their products to entertain and educate. The Value Chain The business of a firm can best be described as a value chain in which total revenues minus toal costs of all acrivities undertaken to develop and market a product or service yields value. Given is the semi income statment of IMAX. We can see that for two years 2007 and 2008 IMAX faced loses PERIOD ENDING Total Revenue Cost of Revenue Gross Profit Operating Expenses Research Development Selling General and Administrative Non Recurring Others Total Operating Expenses Operating Income or Loss Dec 31, 2009 171,211 89,659 81,552 3,755 56,207 1,247 546 61,755 19,797 Dec 31, 2008 Dec 31, 2007 106,226 115,832 68,766 74,673 37,460 41,159 7,461 43,652 2,005 526 53,644 (16,184) 5,789 44,705 562 547 51,603 (10,444) Page | 11 SECTION 3: ENVIRONMENTAL ANALYSIS: IMAX interacts with its environment as it takes inputs and distributes its output, in form of large screen format movies with 3D images and distorted sound. Like every organization IMAX has also external and internal environment which affects its outputs. The External Environment The factors and forces outside the IMAX Corporation that affects its performance are its external environment. External environment of the IMAX Corporation has two components: a) Specific environment b) General environment Specific Environment Specific environment includes those forces and factors those directly relevant to the achievement of the IMAX ¶S goals. The main forces that that make the IMAX µs specific environment are: Customers: Customers represent potential uncertainty to the IMAX because their taste changes. Therefore IMAX should need to create educational and entertainment movies and show them in full screen format. Demand for animated and technological base movies is increasing rapidly. IMAX should merge with some large theaters like Pixer to fulfill the demands of their customers. Suppliers: IMAX had developed the skills, knowledge and capabilities to design and assemble the critical elements involved in its projector and camera systems, though most of the components were purchased from the suppliers with whom it maintained long run relationships. So it is supplier of its own cameras and projection systems. Competitors: IMAX has also competitors like other profit and non profit organizations. Now it faces competition from digital cable, satellite, DVDs and the internet all of which offer customers a much broader choice. Within the large format film segment, Iwerks was the only rival to IMAX. General Environment Includes the political/legal social cultural demographic, technological that affects the IMAX indirectly. Movies which are presented in IMAX theater should represent the social culture of Page | 12 that area, where it going to be released. Mostly the audience is college or university educated, are between 19 and 65 years of age, so its projects should fulfills theirs desires. The Internal Environment Internal environment of IMAX includes the procedures and inputs which are used to attain its goals. IMAX had successfully developed 3D cameras and projection systems to produce realistic 3D images. IMAX projection system produced images on screen that were brighter and sharper those found in conventional movie theater. The company had even produced a 3D directional sound technology that offered location and depth to the audio. IMAX also focuses on its research and development programmers ¶ to present movies in latest technological method . for this IMAX had spend $12. 6 million in research and development in past three years. As part of lease IMAX advised customers on theater design, supervised the installation of the system, trained theater staff and maintain the system. Page | 13 SECTION 4: INDUSTRY ANALYSIS Industry analysis is an market assessment tool designed to provide a business with an idea of the complexity of a particular industry. Industry analysis involves reviewing the economic, political and market factors that influence the way the industry develops. Major factors can include the power wielded by suppliers and buyers, the condition of competitors, and the likelihood of new market entrants. We analyize the positon of an organization in the industry. In this case, we will be analyizing IMAX ¶s position in the industry which is Photographic Equipment and Supplies. IMAX shares performance according to 30th July 2010 is as PERFORMANCE SUMMARY Name IMAX Corporation Ticker IMAX Change 0. 13% Photographic Equipment And Supplies YHoh726 0. 24% The above table shows us the performance of IMAX corporation in the share market. IMAX is losing by -0. 13% of the share price where as the rest of the industry is booming at 0. 24% of their share prices. The main competitors of IMAX are : Canon Inc Eastman Kodak Co X-Rite Incorporated Ballantyne Strong Inc Ikonics Coropration. Given below is table which tell us the different share prices of different firms in the industry andwhose share prices are increasing in th industry Page | 14 Top Photographic Equipment Supplies Companies By Market Cap Company Canon Inc. Eastman Kodak Co IMAX Corporation X-Rite Incorporated Ballantyne Strong Inc Ikonics Corporation Symbol CAJ EK IMAX XRIT BTN IKNX Price 43. 32 3. 97 15. 47 3. 70 7. 72 7. 30 Change 0. 28% 1. 49% 0. 13% 1. 65% 0. 39% 4. 14% Market Cap 53. 48B 1. 07B 982. 67M 316. 04M 108. 80M 14. 37M P/E 27. 23 4. 12 27. 14 N/A 43. 37 N/A We can see that on 30th July 31, 2010 Canon Inc. was leading the photographic equipment and supplies industry with share price as high as 43. 32. It expereinced an increse in its market share by 0. 8% and has the highest market capitalization in the industry by $53. 48 Billion. Where as IMAX Corporation, Eastman Kodak and Ballantyne faced a downfall in the prices of their shares by 0. 13%, 1. 49% and 0. 39% respectivily. GROWTH OF IMAX CORPORATION Below is the tabel which shows us quaterly growth of IMAX Corporation as compared to rest of the firm of the industry Leaders in Quarterly Reven ue Growth (YoY) Imax Corporation Ballantyne Strong, Inc. Eastman Kodak Canon Inc. X-Rite Incorporated Ikonics Corporation 128. 00% 47. 80% 30. 90% 10. 00% 9. 90% 3. 40% As on 30th July 2010, IMAX has expereiced growth of about 128% in an quater alone. This is amazingly high when we compare with rest of the industry. IMAX with its great control and knowledge of technology has outrun Canon Inc,who had experienced an increase in its share prices at mentioned above. IMAX also converting movies into large format,has helped to increase its revenues. This quater alone IMAX has a list of hit movies which have been converted into IMAX format. Toy Story 3, The Twilight Saga: Eclipes, Inception, Resident Evil, Avatar, Legends of The Gurdians are a few of them. Consumers interest watching a movie in IMAX format has been increasing alot. Page | 15 Following IMAX is Ballantyne Strong Incorporation which has expereinced growth of about 47. 80% this quarter. The growth is good but comparing it with IMAX Corporation, its very low. Laging behind in the league of growth is Ikonics Corporation with about only 3. 40%. Ikonics is going through rough time, with only 3. 40 % growth this quater and fall in the price of it shares. IMAX CORPORATION VS INDUSTRY We will now analyize IMAX position against rest of the industry. Below is the table which tells us about the different aspects that will detemine the value and rank of each organization. Statistic Market Captialization P/E Ratio (ttm) PEG Ratio(5 yss expected) Revenue Growth (Qtrly YoY) EPS Growth(Qtrly) Long Term Growth Rate (5yrs) Return on Equity(ttm) Long Term Debt Equity (mrq) Divident Yeild (annaul) Where: Ttm= Trailing Twelve Months Mrq= Most Recent Quater Qtrly= Quaterly Industry Leader IMAX CAJ 53. 48B 982. 67M BTN 43. 37 27. 14 CAJ 0. 87 0. 66 IMAX 128. 00% CAJ 220. 20% N/A IMAX 25. 00% EK 84. 25% N/A N/A IMAX Rank 3/6 3/6 2/6 1/6 N/A 1/6 N/A N/A N/A In finance, the Trailing twelve months (TTM) is a moving measurement calculated using a companys interim or quarterly reports together with its annual report to show the twelve months of income statement data trailing the end date of an interim or quarterly report. Coming back to the case study, IMAX is doing really good when it comes to ranking. In market captialization, IMAX stands 3rd as comapred to the 6 firms in the industry. It leads the industry in Quaterly Growth and in five years the firm most likely to have the highest growth rate is IMAX Corporation itself. IMAX gains the 2nd rank when it comes to Price Earning to Growth Ratio (PEG Ratio). The above statistics tells us that IMAX has growth potential Page | 16 AS PER PRICE TO EARNINGS VALUE Leaders in P/E Ratio (ttm) Ballantyne Strong Inc. Canon Inc. Imax Corporation Eastman Kodak Company 43. 54 27. 29 27. 18 4. 18 The P/E ratio (price-to-earnings ratio) of a stock (also called its P/E, or simply multiple) is a measure of the price paid for a share relative to the annual net income or profit earned by the firm per share. It is a financial ratio used for valuation: a higher P/E ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower P/E ratio. Very intrestingly we saw earlier that Ballantyne Strong Inc expereinced a decrese in its share price by 0. 39% but here we see that investors are more willing to invest in Ballantyne Strong as compared to Canon Inc. IMAX Corporation ¶s P/E ratio is $27. 18, the amount investors are willing to pay to have a single share of IMAX Conclusion As the above statistics has shown that up to 30th July 2010, the leader of the Photographic Equipment and Supplies industry was Canon Inc. IMAX Corporation took the 3rd rank. But in case of growth, IMAX has more potentail than any of the firms with 128% growth the first quater of 2010 alone. This shows that IMAX will lead the photographic equipment and supplies industry in coming future THE EXTERNAL FACTOR EVALUATION MATRIX (EFE) An EFE matric allows strategies to summerize and evaluate economic, social, cultural, demographic, enviormental, technological, legal and comeptetive information. Both the opportunities and threats effecting the organization are listed. It is used to see the competitness of a firm. The highest possible total weighted score for an organization is 4. 0 and the lowest possible is 1. 0. The average total weighted score is 2. 5. A 4. 0 score indicates that an organization is respoding in an outstanding way to exsisting opportunites and threats in the industry Through the matrix we see that the strategies opted by IMAX corporation are effective. Its is throught the fact that the weighted score of all the opportunities and threats is above 2. . so we can see that IMAX is responding effectivly to the opportunites and threats comign tis way. The matrix is given on the next page Page | 17 OPPORTUNITIES Increase in the demand of Hollywood Movies Teaming up with other studios for joint ventures Opening IMAX theatres within Multiplexes No competitor that is converting movies into lareg format Converting existing multiplexe screens to IMAX format MPAA has g iven documantary movies segmant special significance Opening up IMAX in Pakistan and other countries High Populartiy of watching IMAX format movies WEIGHT 0. 07 RANKING 3 W. S 0. 24 .10 2 0. 20 0. 12 4 0. 48 0. 05 1 0. 05 0. 08 2 0. 16 0. 05 1 0. 05 0. 04 1 0. 04 0. 09 3 0. 27 THREATS Piracy of movies High quality DVD s Home theatre Systems Social factor Union of labor Joint partner, AMC rolling out its own big screesns Political Intervention Change of Taste of consumers Total 0. 04 0. 02 0. 04 0. 07 0. 13 0. 07 1 2 3 4 3 4 0. 04 0. 04 0. 12 0. 28 0. 39 0. 28 0. 02 0. 01 1. 00 2 3 0. 04 0. 03 2. 71 Page | 18 SECTION 5: IMAX ¶S FINANCIAL ANALYSIS Activity (Asset Utilization) ratios: Day ¶s sales in Receivables: ays sales in receivable Days sales in Receivable 300 200 100 0 2004 2005 2006 2007 Days sales in Receivable 53. 413 224. 57 73. 357 80. 369 Days sales in Receiva ble years Interpretation: The number of day ¶s sales in receivables relates the amount of the accounts receivables to the average daily sales on account. IMAX shows better improvement in 2004 where his days sales in receivable is 53. 413 days and then in 200 5 his days sales in receivable is 224. 57days which is not good for company and then in 2006 2007 IMAX shows big improvement in their days sales receivables. Page | 19 Account Receivable Turnover: accou t ece a e tu o e Account ece eab e Turnover 6 4 2 0 2004 2005 2006 2007 Account 2 493 2 516 5 025 4 542 ece ve ab e Turnover yea s Account ece veab e Turnover Interpretation: The Account Receivable Turnover ratio gives the number of times account receivable is collected during the year. it indicates the liquidity of receivables. In general the higher the account receivable turnover, the better since the company collecting quickly from customers. In 2006 IMAX has greater account receivables turnover as compared to other years indicating the highest liquidity of receivables and in 2007 IMAX shows some decline and is significant and indicates some problem in 2007 which is 4. 542 times as compare to 2006 which is 5. 025 times. Page | 20 Account Receivable Turnover in Days: rn ver Accoun Receivable Tu nover in Days 200 100 0 n receiable Accoun Receivable Turnover in Days 2004 2005 2006 2007 72. 64 80. 37 acc Accoun 146. 4 145 Receiv able Turnov years Interpretation: The account receivables turnover can be expressed in term of days instead of times per year. In 2004,2005 2006 IMAX is efficient in managing its receivables and shows the positive trend in collection of its receivables turnover in days indicate an improvement in the control of receivables but in 2007 IMAX some negative trend in collection of its receivables turnover in days. Page | 21 Days Sales in Inventory: Days Sales in Inven ry days sales in inven ry 200 100 0 Days Sales in Inven ory 2004 2005 2006 2007 151. 09 141. 46 127. 74 107. 78 Days Sales in Inven ory years Interpretation: It relates the amount of ending inventory to the average daily cost of goods sold . t gives an indication of the length of time that it will take to use up the inventory through sales. the days sales in inventory estimates the number of days that it will take to sell the current inventory . in our data IMAX shows positive trend means that it takes less and less days to selling its inventory which is shown in the graph and this is the good symbol for the company. Page | 22 Inventory Turnover: In ventory Turnover 4 3 2 1 0 2004 2005 2006 2007 Inventory Turnover inventory turnover Inventory 2. 44566 2. 64477 3. 14123 3. 38653 Turnover years Interpretation: It indicates the liquidity of the inventory in times per year. IMAX shows the positive trend in their inventory turnover. Which is good for the company and increase in the inventory turnover indicates that the IMAX is not stocking the goods. Page | 23 Inventory Turnover in Days: Inven ory Turnover in Days inven ry in days 200 100 0 Inven ory Turnover in Days 2004 2005 2006 2007 Inven ory 149. 244 138. 008 116. 197 107. 78 Turnover in Days years Interpretation: The inventory turnover figure can be expressed in the number of days instead of times per year. It gives an indication of the length of time that it will take to use up the inventory through sales. The day ¶s sales in inventory estimate the number of days that it will take to sell the current inventory. IMAX shows the positive trend in their inventory turnover in days, means IMAX takes less and less days to sale its inventory which shows the improvement in inventory turnover in days. Page | 24 Operating Cycle: Opera ing Cycle 200 pera ing cycle 150 100 50 0 Opera ing Cycle 2004 2005 138 2006 2007 Opera in 149. 2 g Cycle 116. 2 107. 8 years Interpretation: The operating cycle represents the period of time elapsing between the acquisition of goods and the final cash realization resulting from sales and subsequent collections. IMAX shows the positive trend and takes the less number of days to convert inventory and receivables to cash. Page | 25 Liquidity Ratios: Working Capital: Worki pi l i l Worki worki pi l Worki pi l y r Interpretation: The working capital of a business is an indication of the short run solvency of the business. It is the difference between the current assets and current liabilities. If current liabilities exceed the current assets then it shows the bad short run solvency of the firm. In 2004 2005 IMAX shows that their current assets are more than their current liabilities indicating the better short tern solvency as compared to the 2006 2007 in which IMAX shows that their current assets are less than their current liabilities indicating the shows the bad short run solvency of the IMAX and unfavorable sign. Page | 26 Current Ratio: Curren Ra io 3 2. 5 c rren ra i 2 1. 5 1 0. 5 0 Curren Ra io 2004 2005 2006 2007 Curren Ra io 1. 2777 2. 4781 1. 1991 0. 8973 years Interpretation: Current ratio which is subject to seasonal fluctuations is used to measure the ability of an enterprise to meet its current liabilities ut of current assets. The above graph of IMAX shows that in 2005 his ability to pay their short term liabilities is much stronger as compared to others years. which shows the decline over the year. Page | 27 Acid-Test Ratio: Acid Tes Ra io 2 acid es ra i 1. 5 1 0. 5 0 Acid Tes Ra io 2004 0. 779 2005 2006 2007 Acid Tes Ra io 1. 8289 0. 7335 0. 571 years Int erpretation: The acid test ratio relates the most liquid assets to current liabilities because it ignores the inventory figure while collecting the short term debt paying ability of the firm. On examining the company, we can find that in 2005 IMAX is greater to 1 means that IMAX shows strong position enough liquid assets to pay their short term debt while ignoring its inventory. In 2004 2006 IMAX is closer to 1 means that it is somewhat in a better condition while ignoring its inventory. Page | 28 Cash Ratio: Cash Ra io 0. 5 0. 4 cash ra i 0. 3 0. 2 0. 1 0 2004 2005 2006 2007 Cash Ra io Cash 0. 46177 0. 39196 0. 36034 0. 22757 Ra io years Interpretation: The cash ratio relate to extreme analysis of the firm debt paying ability. Because in this ratio we only take the figures of such liquid assets as cash in bond, bank balances, marketable securities, the ratio shows that how much firm ¶s cash in their hands and accounts to pay their short term liabilities . it gives us the extreme closer view of the firm short term paying ability. The above graph of IMAX shows that the company has not more cash in hand and at bank to pay its short term liabilities. In fact the cash ratio is more extreme analysis of the firm debt paying ability so we can say that IMAX is in better conditions but not as much good because its ratio is less than in all four years. Page , sales are not adequate in relation to the available working capital. The above graph of IMAX shows working capital turnover ratio of different firms over the tfour years. e can see that IMAX have positive working capital turnover ratio in 2004, 2005 2006 because, their current assets are more than their current liabilities while in 2007 IMAX has more liability that ¶s why their working capital turnover ratio show the negative trend. in comparison the 2006 is better off in respect to their ratio as compared to 2004 2005 which indicates that in 2006 working capital is efficiently utilizing to generate sales as compared to other years and in a better position Page | 30 Operating Cash flow/Current Liabilities Ratio: OCF/Curren liabili ies OCF/c rrent liabilities 0. 2 0. 1 0 -0. 1 OCF/Curren liabili ies 2004 2005 2006 2007 OCF/Curr 0. 1819 0. 0288 -0. 085 -0. 084 en liabili ies years Interpretation: This ratio is an indication of short term debt paying ability of the firm. This ratio shows the relationship if cash generated from operating activities to the current liabilities of the firm. If the firm generates enough cash from its operations which is greater than its liabilities than the firm is in better condition and its short term debt paying ability. The above graph of IMAX in years 2004 2005 shows that there are a positive trend, means the firm generates enough cash from its operations which is greater than its liabilities than the firm is in better condition and its short term debt paying ability while in 2006 2007 shows the negative trend, shows IMAX have not cash to meet their current liabilities. Page | 31 Leverage (Solvancy, Long-Term Debt) Ratios Debt Equity Ratio: Deb Equi y Ra io 0 debt eq ity rati -5 Deb Equi y Ra io -10 -15 2004 2005 2006 2007 -6. 448 -13. 15 -4. 903 -3. 436 Deb Equi y Ra io years Interpretation: The debt/equity ratio is another computation that determines the entity ¶s long term debt paying ability. Thus computation compares the total debt with the total shareholder ¶s equity. The debt/equity ratio also helps determine how well creditors are protected in the case of solvency, for the prospective of long term paying ability, the lower this ratio is the better of the company ¶s debt position. The above graph shows that IMAX is not in a better condition showing the negative trend in all four years . The negative indicates that their stockholder ¶s equity figures in negative that ¶s why they lie below the zero line Page | 32 Debt Ratio: Deb Ra io 1. 5 debt ratuo 1 0. 5 Deb Ra io 0 2004 2005 2006 2007 Deb 1. 18356 1. 08234 1. 2562 1. 41047 Ra io years Interpretation: This ratio also indicates long-term debt-paying ability of the firm. the debt ratio indicates the percentage of assets financed by creditors and its help to determine how well creditors are protected in the case of insolvency, if the creditors are not well protected the company is not in a position to issue addition long term debt paying ability, the lower this ratio the better the company position. In the above graph of IMAX clearly shown that in 2005 is better off as compared to other years. In the 2005 the IMAX much better condition as compared to others because its total assets contain not much from the creditor side. Those firms whose ratio is less then are better off, indicating that their assets do not include more from creditors ¶ side. Page | 33 Operating Cash Flows/Total liabilities: OCF/To al liabili ies OCF/total liabilities 0. 06 0. 04 0. 02 0 -0. 02 -0. 04 2004 2005 2006 2007 OCF/To al liabili ies OCF/T 0. 042 0. 007 -0. 02 -0. 02 o al liabili i es years Interpretation: This ratio is also indication of long term debt paying ability of the firm. This ratio shows the relationship if cash generated from operating activities to the total liabilities of the firm. If the firm generates enough cash from its operations which is greater than its liabilities than the firm is in better condition and its long term debt paying ability includes transitioned interest debts and principal sum in good. The above graph of IMAX shows that in years 2004 2005 are generating enough cash from operations to meet their long term and short term debt because in these years the IMAX shows the positive trend, while in years 2006 2007 the IMAX shows the negative trend in generating enough cash to meet their liabilities over the two periods. The higher the ratio the better will be the position of the fir Page | 34 Long-term Debt-Equity Ratio: Long erm Deb Equi y Ra io l ng term debt equity rati 0 -5 -10 -15 2004 2005 2006 2007 Long erm Deb Equi y Ra io Long -4. 968 -10. 08 -3. 706 -2. 566 erm Deb Equi y Ra io years Interpretation: This ratio also shows the long term debt paying ability of the firm. This ratio relates the portion of total equity financed by the long term debt. The lesser the ratio the better will be the companys position and its ability to pay its debts. The above graph of IMAX shows that in all four years there are negative, the negative trend of the IMAX is due to that their total equity figure is in negative which leads to lie their ratio below the zero line. Page | 35 Time Interest Earned: Time In eres Earned time interest earned 2 1 0 -1 -2 Time In eres Earned 2004 2005 2006 2007 Time In eres Earned 0. 77132 0. 93299 -0. 4019 -1. 2075 years Interpretation: The time interest earned ratio indicates a firm ¶s long term debt paying ability from the income statement view. If time interest earned is adequate, little danger exits that the firm will not able to meet its interest obligations. If the firm has a good coverage of the interest obligation, it should be able to refinance the principal when it comes due. In the above figure of IMAX show the positive trend in years 2004 2005 means that in good position to pay its interest obligations on the long term liabilities while in 2006 2007 shows the negative trend and are not in good position to pay its interest obligations on the long term liabilities and it may seem also be difficult for the IMAX to pay their principals amount of their long term debts. In 2004 2005 the IMAX shows the positive trend indicating that it is generating enough income to meet its interest obligations and is able to pay its principal some debt as compared to other years. Page | 36 PROFITABILITY ANALYSIS Net Profit Margin: Net Profit M r i . r i . t rofit . . . Net Profit M r i . . . . Net Profit M r i y r Interpretation: A commonly used profit measure is return on sales often termed net profit margin. This ratio gives a measure of net income rupees generated by each dollar of sales. it is desirable for this ratio to be high, competitive forces within the industry, economic conditions, use of debt financing an operating characteristics such as high fixed costs will cause the net profit margin to vary between and within the industry,. he above graph of IMAX net profit margin shows a profitable position over the two years and its profit from sales increases substantially from 2004 to 2005, while in next two years the IMAX faces losses on sales continuously i. e. 2006 to 2007. Page | 37 Total asset Turnover: Total asset Turnover total asset turn ver 0. 62 0. 6 0. 58 0. 56 0. 54 0. 52 2004 2005 2006 2007 Total asset Turnover 0. 5701 0. 6122 0. 5948 0 . 5569 Total asset Turnover years Interpretation: The total asset turnover measures the activity of the assets and the ability of the firm to generate sales through the use of assets. The above graph of IMAX shows that who efficiently the years uses their assets to generate sales. The high figure shows that that the firm ¶s net sales are than its total assets. It indicates that the firm is not using enough of the assets to generate sales. In the above graph of IMAX, the activity of assets in the years 2004 2007 is greater than the other years that are why its ratios is lower as compared to other. As we look towards the years 2005 2006 its figure is higher indicating that this firm is not using much of its assets to generate sales. Page | 38 Return on Assets: Return On Assets 0. 1 return n assets 0. 05 0 -0. 05 -0. 1 -0. 15 2004 2005 2006 2007 Return On Assets Return 0. 043 0. 061 -0. 077 -0. 13 On Assets years Interpretation: Return on assets measures the firm ability to utilize its assets to create profits by comparing the profits with the assets that generate the profits. The higher the firm ¶s return on assets better will be the company ¶s position. The above graph of IMAX shows the return on assets of four years . By looking toward the graph we can see that from 2004 to 2005 years shows the positive and profitable trend. This indicates that in 2004 2005 management is efficiently utilizing their assets to generate profits, and also there is a positive trend over the two years while in next two years i. e from 2006 to 2007 shows the negative and non profitable trend which indicates that in these years IMAX management is not efficiently utilizing their assets to generate profits. Page | 39 Operating Income Margin: Operating Income perating inc me margin 0. 3 0. 2 0. 1 0 -0. 1 Operati ng Income argin 2004 0. 22 2005 argin Operating Income argin 2006 2007 0. 224 0. 077 -0. 031 years Interpretation: It shows the relationship of operating income to net sales. This ratio indicates that how much the firm generates income from its net sales after excluding administrative, selling and other expenses from the gross profit. The higher the figure of operating income margin the better the company ¶s better position and its profitability. The above graph of IMAX shows that the in years 2004 2005 are in better position in relation to operating income margin as compared to the other years in the IMAX Company while in years from 2006 to 2007 IMAX shows the decline means in these years IMAX Company ¶s position is not good and non profitability. So we can say that there are only two years i. from 2004 to 2005 that generate positive incomes from net sales. Further we can see that the in years 2004 2005 shows the continuous improvement over the two years while 2006 2007 shows decline over the two years. Page | 40 Return on Operating Assets return n perating assets Return On Operating Assets 2 1 0 -1 2004 2005 2006 2007 Return On Operating Assets R eturn 1. 076 1. 261 0. 415 -0. 15 On Operati ng Assets years Interpretation: This ratio measures the ability of operating assets to generate sales dollars. The higher the ratio the better will be the position of the company. The above graph of IMAX shows that there are only two years in the company i. e. 2004 to 2005 whose position is better as compared to other years in the company. Because these years shows positive figure over the two years, while next year shows big decline i. e. 2006 and in 2007 the IMAX shos the negative fingure. The IMAX company show an improvement from year 2004 to 2005 but in last two years they show the decline position In year 2004 2005 operating assets are efficiently contributing in the generation of the sales while in the years 2006 2007 are not utilizing efficiently contributing in the generation of the sales Page | 41 DuPont Return on Operating Assets: dupont return on operating assets DuPont Return on Operating Assets 2 1 0 -1 2004 2005 2006 2007 DuPont Return on Operating Assets DuPon 1. 076 1. 261 0. 415 -0. 15 t Return on Operat years Interpretation: It shows the relationship between operating and average operating assets of the firm. It indicates that how efficiently the management of the firm operates its assets to generate income. The higher the figure the better will be the position of the firm. The above graph of IMAX shows that that the management of years 2004 to 2005 has a control over its operating assets in relation to generate income while in next two years the IMAX shows the declining position means have not a control over its operating assets in relation to generate income and these two years shows the declining figure in the year 200 and 2007 indicating that they are not generating income from their operating assets in fact they faces a lose in the year 2007 . Page | 42 Sales to Fixed Assets: Sales To Fixed Assets sales to fixed assets 2. 5 2 1. 5 1 0. 0 2004 2005 2006 2007 Sales To Fixed Assets Sales To 1. 895 2. 081 1. 923 1. 725 Fixed Assets years Interpretation: The ratio measure the firm ¶s ability to make productive use of its property, plant and equipment by generating sales rupees. The above graph of IMAX shows that in the years from 2004 to 2005 have a the positive trend indicating that their fixed assets are contributing more efficiently toward the sale s while in years from 2006 to 2007 the IMAX have a negative trend indicating that their fixed assets are not contributing more efficiently toward the sales. In fact In last year they faces a lose in the year 2007 . Page | 43 Return on Investment: Return On Investment return n investment 0. 2 0. 1 0 -0. 1 -0. 2 2004 2005 2006 2007 Return On Investment Return On 0. 1204 0. 148 Investmen t -0. 041 -0. 118 years Interpretation: It applies to ratio measuring the income earned on the invested capital. These types if measures are widely used to evaluate enterprise performance. Since return on investment is a type of return on capital, this ratio measure the ability of the firm to reward those who provide long term funds and to attract provides of future funds. This ratio evaluates the earning performance of the firm without regard to the investment is financed. The higher the ratio, the better will be the position of the company. The above graph of IMAX shows that in the years from 2004 to 2005 have a better positive and shows positive trend over the two years but in last two years the IMAX shows the negative trend and shows the continues losses. Page | 44 Return on Total Equity: Return On Total Equity return n total equity 0. 5 0 -0. 5 Return On Total Equity Return On Total Equity 2004 2005 2006 2007 0. 327 -0. 3664 0. 2347 0. 3156 years Interpretation: It measures the return to both common and preferred stockholders. The higher the ratio the better will be the position of the company. This ratio is important for shareholder point of view. Higher returns attract more shareholders. The above graph of IMAX Company shows in the years 2004 to 2005 have the decreasing trend over the two years also below the zero line i. e. negative returns. Wh ile in last two years from 2006 to 2007 have a positive trend and shows the better position. Page | 45 Gross Profit Margin: Gross gr ss pr fit margin 0. 6 0. 4 0. 2 0 rofit argin Gross rofit Margin 2004 2005 2006 2007 Gross 0. 485 0. 496 0. 406 0. 355 rofit Margin years Interpretation: The ratio shows the relationship between gross profit and net sales. Higher the figure the better will be the position of the firm. The above graph of IMAX shows that the company generate profits continuously over the two years from the net sales, while in last two years shows decline from 2006 to 2007 and shows the continues losses. Page | 46 INVESTOR ANALYSIS Degree of Financial Leverage: Degree Of i i ll v r ci l Lever ge of fi Degree Of Fi ci l Lever ge 2004 2005 2006 2007 2 . 9 0. 2 r Degree 2. 296 2. Of ci Fi l Lever y r Interpretation: The use of financing with a fixed charge (such as interest) is termed financial leverage. Financial leverage is successfully the firm earns more on the borrowed finds than it pays to use them. It is not successful if the firm earns less on the borrowed funds than it pays to use them. If the earning before interest increases, the financial leverage will be favorable. If earning before interest deceased the financial leverage will be unfavorable. The above graph of IMAX shows that the years from 2004 to 2005 the negative trend over the two years earning before interest decreased the financial leverage are unfavorable while in 2006 the IMAX company goes to the below the zero line shows negative figure but then in the year 2007 shows the positive trend here the earning before interest increases, the financial leverage is the favorable and the degree of financial leverage becomes favorable from 2006 to 2007. Page | 47 Earning Per Common Share: arning per c mm n share Earning er Common Share 0. 2 0. 1 0 -0. 1 -0. 2 -0. 3 2004 2005 2006 2007 Earning er Common Share Earning 0. 086 0. 118 -0. 138 -0. 22 er Commo n Share years Interpretation: It is the amount of income earned on a share of common stock during period, applies only to common stock. The higher the ratio, the higher will be position of the firm. The above graph of IMAX company shows that only in the years from 2004 to 2005 shows a continuous positive trend in the earnings per common share and also show improvement in their earning . While in next two years the company going to down and down and not shows a good position. Page | 48 Book Value per Share: Book Value per Share k value per share 0 -0. 2 -0. 4 -0. 6 -0. 8 2004 2005 2006 2007 Book Value per Share b Book -0. 364 -0. 167 -0. 477 -0. 697 Value per Share years Interpretation: It indicates the amount of stockholder ¶s equity that relates to each share of outstanding common stock. The above figure of IMAX Company shows a book value per share below the zero line over the four years. Page | 49 Operating Cash flow Per Share: perating cash fl w per year Operating Cash flow er Share 0. 15 0. 1 0. 05 0 -0. 05 -0. 1 2004 2005 2006 2007 Operating Cash flow er Share Operatin 0. 096 0. 015 -0. 049 -0. 051 g Cash flow er Share years Interpretation: Operating cash flow per share indicates the funds flow per common share outstanding, it is usually substantially than the earning per share because depreciation has not been deducted. It is the indication of a firm ¶s ability to make capital expenditures decisions and pay dividends than is earning per share. This ratio does not viewed as substitute for earning per share in terms of its profitability. The higher the ratio, the better will be the position of the firm. The above graph of IMAX shows the negative trend continuous over the four years also shows below the zero line in last two years which is in a continuous non profitability position. Page | 50