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

How To Make Your Work With A Supervisor Effective

How To Make Your Work With A Supervisor Effective How To Choose The Right Supervisor And To Work With Your Tutor Right? When you start working with your supervisor on your dissertation, you may expect that this will be the same student-tutor type of relationship. This is the one that you got used to and you most likely feel comfortable with. But you need to understand that working on a dissertation required more than that. We will disclose in this article that you need to pay attention to the interpersonal skills as well. Your collaboration will require mutual understanding and clarity in order to make your work together effectively. Choosing the right tutor For undergraduates and Master’s students universities usually assign supervisors in advance. This choice is affected by the topic you offer and the field of study, of course. But in fact, the process of choosing the right supervisor can be really challenging for the student. This is one of the most important aspects that will affect all further work on your dissertation. You work with a tutor on your paper will shape and direct your thoughts, approaches, and solutions for the selected topic. So you need to be considering in approving collaboration with one or another supervisor. We have prepared questions you should ask yourself before you will make a choice. This will help you to start good professional relationships with the right purpose. Is your supervisor familiar with your sub-field and topic? You may consider this question weird, but in fact, it is very reasonable. Students sometimes consider that if their supervisor is well-aware of the general field you are working in, he/she will be an expert in your sub-field as well. But in fact, the wider knowledge does not always mean that the person can understand right your topic in the narrower field. Also, you cannot expect that your supervisor has read all the books, articles and works of other scholars in order to get an understanding of the topic (as you might do). Most experienced supervisors understand this and refuse to work with some graduates simply because they realize they have a lack of expertise in the particular sub-field. While some relatively young academics may mistakenly consider that they will be able to help you with your work, even if they do not have enough depth of knowledge. In this case, you need to check the suitability of this person to your dissertation by yourself. Does he/she share your choice of direction? It is okay that you and your supervisor may have minor disagreements during your work. Moreover, some of them may be really important as soon as they are supported by constructive arguments. But you also need to remember that there are approaches in one field that can be completely opposite. So do your best to pick the supervisor who will share the same assumptions as you, instead of starting working with a person who obviously has completely different views in your topic. Does he/she share your working patterns and expectations? By the moment you start writing your dissertation you probably already know what kind of supervisor you need for the productive continuation of your work. If you know that you may procrastinate sometimes and do simple things too slowly, you may look for the person who will be strict enough to stimulate your work and following deadlines. Or maybe you are motivated enough to work constantly and you do not want too much interruption into your writing process. Then you may look for the tutor who will be ready to revise your chapters when you ask them, no sooner or later, providing you with detailed and constructive comments. Do you get the decent level of attention to your work with quality recommendations and good criticism? Does the selected supervisor have enough influence on you to motivate, stimulate or direct you? How many students are working with him/her right now? Some supervisors can be really popular so many students request working with them. But eventually, this may have a bad impact as this can reduce the quality of work with each student. Moreover, in this case, the supervisor needs to switch between topics too often that may cause confusions as well. But another side of the coin is not good as well. If nobody wants to work with a particular person, they could have reasons for that. Working process with your supervisor You and your supervisor need to understand that you are now starting the working relationship, which requires mutual understanding, sharing professional views and so on. The form of the relationships you will have with your supervisor will depend on the subject you are working in, but most of all it will be affected by the working patterns that you will choose. Anyway, you need to read and take into consideration our following recommendations. Work with your supervisor, not for him Being a student you probably got used to the particular model of behavior and communication with your tutors. During modules, you receive the particular tasks that you need complete in a particular way to satisfy the teacher’s requirements. This model also works during passing the exams when you express thoughts that your professor wants to her. And when you start working on with your tutor on your dissertation you may feel like fulfilling his/her requests as well. Despite the fact that your paper should meet the particular requirements specified by your department, still, you should not be oriented at satisfying your supervisor though. You need to reconsider your attitude and think of your supervisor more like teammate rather than the examiner. You are working together on the same goal and you are the author of the research in the first place. Just like with teamwork, you need to consider the person you are in collaboration right now. You need to do what you are asked for and do not miss deadlines and tasks. Provide the chapter, draft or the piece of research when you promised to your supervisor in order to keep on the same track and gradually fulfill your paper. But you also need to keep in mind another significant aspect of the working in the team: being clear in what you want to get from your teammate. You can give your supervisor a first draft in order to check up whether you have chosen the right direction. But your supervisor may consider that this is the nearly completed part of the paper and it may cause serious confusion. So as soon as you ask for help, feedback, recommendation, make sure that you have explained on what stage you are now and of what â€Å"flaws† of your current version of dissertation you are aware of. Engage your supervisor at the first stages of work Most supervisors realize the importance of their control over the early stages of dissertation writing. That is why they often insist on often meetings during this period. But sometimes supervisors may be â€Å"hands-off† and do not insist on this way of collaboration. That is the situation when you need to control this aspect by yourself. Involve your tutor in the process of planning as this stage can affect all further work. Defining all the important aspects and directions will guide you in your work on the dissertation and prevent the majority of common mistakes. Moreover, there will be fewer risks that your dissertation will require serious making over. You can get a bunch of useful info from your supervisor, for instance, what books, articles and works to read or what researches to study. With this approach in the early stages, you will get receiving the required theoretical and practical skills that will make your dissertation creation productive. Arrange often meetings with your supervisor to check the process stage by stage Nothing in the educational process can be more disappointing than bringing to your supervisor 200 pages of your work and receive the comment that you need to start over because your starting point was wrong. That is why you need to develop a habit to arrange meetings with your tutor as often as possible to check every chapter and the stage of production. Discuss the next steps of your plan and their relevance to the dissertation in general. This will prevent you from being stuck on the same level and you will constantly receive guidelines of what you need to study more to move forward. Do not think that your supervisor expects only completed work from you. Sure thing, you have to cover minor aspects like grammar check and proper formatting by yourself. But this is not your regular tutor. Your supervisor needs to see your progress and trace it. If you will provide a chapter that looks good and contain no grammar mistakes, you will let your supervisor see the actual content and base his/her feedback on it. Conduct productive disagreements You and your supervisor are different people and it is normal if you will have minor disagreements considering the working on your dissertation. He/she does not have to agree with you on any level. But as soon as you have any issues, turn them to the advantageous path. Discuss why your supervisor suggests a different approach or criticize your thoughts. Do not be afraid of such situations. Of course, it may be daunting when you hear that you might be wrong in the thing that you pay so much time for. But on the other hand, consider this as an opportunity to grow as well as the chance to train your communication skills when you need to defend your views. Do not be afraid to change the supervisor There are rare cases when undergraduates cannot make their work with the supervisor productive. The reasons can vary. In some situations you can realize too late that your supervisor does not want to support your ideas, making you write an entirely different paper. Or you may find their comments impenetrable and demoralizing. Or your supervisor does not pay attention to your meeting request and you cannot get in touch with him/her for weeks. Anyway, you can eventually decide that you need to switch the tutor and start working with another supervisor. This is possible and you need to address your request to the head of the department. Do not be afraid to do so as this is your work in the first place and only you are responsible for it.

Young Generation Illegal Chinese immgrants in the US Essay

Young Generation Illegal Chinese immgrants in the US - Essay Example s much as the life in the United States of America may be comparatively easier and more appealing, the actual conditions of life may not be as rosy as one would expect it to be. For the purpose of this essay and exposition, this paper will focus on the hypothetical example and instance of a young illegal immigrants from China called Wei Yuocang who was a twenty two year old from Lian Jian in China. To begin with, the young generation of Chinese immigrants are attracted to the United States of America under the guise and promise of a better life and a way of escaping the harsh realities in their home country China. For his case, he moved to the United States of America when he was a young man in his teenage years. It was so because the chances and prospects of getting a proper livelihood in China were bleak. Being an orphan whose parents died when he was young faced the tremendous challenge and difficulty of having a proper life in China then he opted to seek the services of a snakehead or an agent to settle him in the United States of America. The snakehead or an agent is a person who specializes in sneaking the illegal immigrants from China to the United States of America through the South America route of countries such as Mexico and Ecuador. It is my reasoned opinion and respectful line of thought and reasoning that the agent does not follow the due process of ensuring the young Chinese immigrants find proper and valid documentation on the United States of America. This is the reason as to why the young immigrants are settled on menial jobs in restaurants with less prospects and chances of getting other better paying jobs with more benefits and working terms or conditions. The moment they arrive to their work stations they have difficulty in finding other social services such as credit cards, health insurance amongst other social benefits that a person would expect to get on a normal day and time. Taking the case and instance of the young man called Wei

Job Satisfaction in Pharmacy Personal Statement Example | Topics and Well Written Essays - 500 words

Job Satisfaction in Pharmacy - Personal Statement Example Through these changes, my attitude is constantly challenged to meet the tight aspects of the work by building on my inherent teamwork and unity and continuing to trust explicitly that my employers are here to support my endeavors 100% of the way. It is only up to me therefore to be accountable for the actions I exhibit in lieu to my job attitude. Furthermore, self-improvement is never a hindrance and continuing to learn through the various activities sponsored by the company to better me as employee should be a welcome respite from all the stress demands of the job. Learning and enjoying the job as a pharmacist should balance my work/life character as an employee. Being in PharmCare Express I should take advantage of the value-added experiences this company is eager to give me, their employee. As employees, it is our task then to currently emphasize what could happen if some of the techniques are adopted to address job-related issues instead of meeting it head-on with rumor mongering and other petty behavior We just might see a boost in morale on both sides of the counter. The workplace is where we spend half of our time everyday and enjoying our job can spell a world of difference especi

Interview Settings Essay Example for Free

Interview Settings Essay Having a conversation with a potential employer or a doctor an individual unconsciously puts himself or herself below the level of his/her interlocutor due to the reason of their communication: applying for a job or sudden chickenpox. Therefore, it is important that the employer makes certain efforts with regard to the overall environment in the office or wherever the interview is carried out. To put theory into practice, I made a decision to call the faculty office and ask them whether they will be willing to answer some of my questions for my future report. Having accepted my offer, they asked me about the time. Eventually, the interview was appointed and I was supposed to come at 9am. Later it turned out that the period of time between 8am and 11am is the most productive one and the staff intentionally asked me to visit them in the morning. Immediately after I came in the faculty office, I was offered a coffee and a sit. The walls of the room were covered with pictures of relatives and friends of the faculty staff creating an atmosphere of warmth and friendliness. Cozy armchairs and quiet music contributed to the calmness of the overall environment. Regardless of the fact, that there were many staff members in the office, they were mostly reading and therefore nothing disturbed my interview with the professor who was extremely eager to help me. Unlike the faculty office, the atmosphere in my boss’s office was characterized by overwhelming noise of equipment (computers, laptops, scanners, etc). Additionally, I could see many people chatting, laughing, and going back and forth. Having notified my boss about my interview in advance, I found that the scheduling was inconvenient as he made an appointment at 7pm on Friday. Unfortunately, I had to cancel my date to visit the boss. When I came to the office, I asked the receptionist whether the previous meeting had already been finished so I could talk to the employer. Preliminarily, I had to wait until the receptionist finished talking on the phone with her friend about â€Å"that cute football player†. In a couple of minutes I was told that the boss could not talk to me right away as a part of our department was out of fix and needed some maintenance. It was not until 7. 40pm that he asked me to enter his room. Surprisingly enough, I noticed a group of people moving furniture a couple of feet away from us getting ready for the repairs. They did not keep silence and therefore my boss and me could not have a proper talk with potential valid evaluation of each other. According to the notes, it is a must for every employer to have in-depth knowledge in ethics. However, every now and then I saw his eyes moving towards the workers. The overall environment was distracting and he even yawned twice. As I found myself in a very uncomfortable situation from psychological point of view, I asked for a glass of water. However, it turned out that they had nothing to drink. The third place, doctor’s office, was similar to the first faculty office. The atmosphere was welcoming and peaceful. I suppose that the doctor’s office was the safest place among three places I have visited. Physicians were dressed in white with dry clean hands; the building was high with much light inside and office-cleaners taking care of the hygiene. The atmosphere was friendly and hospitable. During my conversation with the doctor he was examining me with various medical instruments. It worsened the situation and communication process in general as pulling up the t-shirt and breathing in and out made me feel as if the physician was not fully interested in my opinion. At this point, my boss’s office was much more convenient for the inte4rview and negotiations in general as I was sitting just in front of him. In conclusion it would be appropriate to note that interview settings include various significant aspects responsible for the outcome of the interview. REFERENCES †¢ Interview Questions And Answers Anticipating awkward interview questions. (2006). Accura Resumes. Retrieved March 6, 2007, from http://www. accuroresumes. com/articles-info/interview-articles/questions. html