Management accounting Essay Example | Topics and Well Written Essays - 1000 words - 2

Management accounting - Essay Example It may be noted that the financial tool of ratio analysis has been used to make comments and comparisons between the two companies over their financial position and performance. During 2007 Intercontinental has not effectively improved upon its profitability performances in 2006. In fact it has maintained more or less the same level of profitability as was in 2006.The increases in profitability ratios in net profit and return on equity are deceptive. ROE has increased manifolds because capital employed has been reduced tremendously from $686m to mere $49m. Otherwise gross profit ratio that shows the real operative efficiency of the entity has dwindled and remained at almost the same level. Increase in return on capital employed is marginal. The overall efficiency on operational profitability has not improved. The profitability performance of Peel Hotels in 2007 has also gone down when compared with 2006. Gross profits and ROCE that show operational efficiency has shown declined performances. On the hand ROE, return on assets, net profit ratios that are affected by factors other than operation performances have shown increased performances. The result is that company has not improved upon its real profitability but shown efficiency only to attract investors and other interested users of financial statements. Both companies are facing liquidity crunch as reflected from their current and quick ratios. Both ratios are lower than the standards required to maintain optimum level of liquidity. The liquidity status is critical in both the years for each of the companies. The companies have to take some extraordinary steps to improve liquidity; otherwise both companies are facing the danger of short term insolvency. Intercontinental has low inventory turnover but it at least has maintained the same performance in 2007 as was in 2006. The company has shown improvement in collection of debtors but

Use of Technology Essay Example for Free

Use of Technology Essay The information age presents many challenges for those in education and government where there is the need for the whole population to be able to access and use new technologies. This will include use of computers, the internet and digital television which is key in determining and establishing a skilled workforce and empowered citizenry for the twenty first century; the possibility and potential of these new technologies to allow people to learn throughout the life-course is also seen as a ready means of establishing developed countries as a learning society. Governments around the world have come out and set targets and development policies to help all adult technologies – information communication technology- in making these users friendly in their own environments, (Selwyn, Gorard, Furlong, 2006). Despite the sums of money being invested in ICT and education, there is the need for establishing how close the society is in establishing technology based learning societies and the challenges that might be faced along the way. There is also the need to recognize the promise and potential of new technologies, mapping how ICT and ICT-based learning fit with the everyday lives of each individual as well as the ability of research in the community. In this time and age, many of us already have a hand held mobile device, a hand held computing device of some description as well as some form of Internet access in the homes or at the office. As well, the enthusiasts of the power of technology see the need to support and shape our everyday activities proliferate via newspapers, textbooks and television screens. All these are learning avenues and as well these have increased to e-commerce, e-tailing, cybersex, blogging, networked computerized technologies in the nineteenth century revolution; inspired by grand notions of globalization and post modernity, some scholars have taken to portraying adults in the early twenty-first century as living in a plentiful post-physical age where all that is solid melts into bits The importance of learning in information society The prominence of education and learning within the post-industrial, information society analysis was in no small part responsible for the high profile reassessment of education and training by educators and politicians in developing countries over the latter half of the 1990s. In countries such  as the UK, this was infamously embodied in New Labor’s 1977 election commitment to concentrate on education. The information society and knowledge economy agenda were particularly evident in the rise of political favor during the 1990s of the broad concept of lifelong learning, a notion embracing not only the compulsory phases of education but also education throughout adult life. This lifelong learning involves more than a narrow technical adjustment to the organization of educational provision; it is an attempted transformation in learning opportunities in order to meet the implicit demands of the information society/knowledge economy. If it is accepted that the production and distribution of knowledge and information are increasingly significant processes in the determination of global economic competitiveness and development, which are reflected in turn, in economic growth, employment change and levels of welfare, then the capacities of organizations and individuals to engage successfully in the learning process of a variety of kinds is an obvious determinant of economic performance. Policies and usage of ICT in schools For an effective learning environment in schools that incorporate ICT, the use of computers need to have policy frameworks to specify their use and how effective they will be in their use as this will give a general guideline in use as well as maintenance. In South Africa, the proportion of principles indicating the existence of written policies for both the lower and upper education levels were virtually the same, but emphasis was quite different. In almost all the schools too, there was a common vision on ICT as a policy goal that pay attention to norms and values when using services such as the internet; a survey in south Africa revealed that such visions were fully or partially realized both at the upper and the lower levels as other principals reported that developing a common vision was realized as a goal, (Howie, Muller, Paterson, 2005) On the other hand, at the upper level involving mature learning, it is certainly not hard to detect enthusiasms for ICT based technologies within the educational literature, reflecting the proliferation of new technologies such as the computer and internet in adult changing settings. In essence and principle, ICTs are argued to make learning more effective and more equitable, to offer a diverse range of  learning opportunities to a diverse range of adult learners on a suitable, convenient and cost effective basis as technology has been heralded by some to facilitate learning which is eclectic, holistic and flexible. In short, this is to say that ICTs are portrayed as making the wider goals of the knowledge economy and information society, (Howie, Muller, Paterson, 2005) Conclusion According to Law, Yuen Fox, (2011), sustaining or transformative uses of technology do not depend on technology alone, they also depend on the intended use of the technology in the specific educational contexts, often, and specific technologies priorities certain uses and hence can be used more easily for sustaining or transformative purposes. Such prioritization is not deterministic as further, the characteristic that mist influences the choice and deployment of ICT in school education is the pedagogical decision-making of the teacher. This in turn is determined by the curriculum goals and training as well as pedagogical competencies of the teacher, (Law, 2008) Transformative use of technology in schools and education as discussed above are those that are integral to the implementation of innovative pedagogical practices. This involves the changing roles of the teachers, learners and members of the community, and the power relationships among these three groups. The way learning outcomes are assessed and staff performance is appraised also changes, thus challenging the predominant value and reward system inherent in the education system today. In particular, the integration of ICT in learning can be an effective tool in widening education participation, supporting a diversity of educational provision as well as lead to better form and outcomes of adult learning. ? Work Cited Howie, S. J., Muller, A., Paterson, A. (2005). Information and Communication Technologies in. Howie, S. J., Muller, A., Paterson, A. (2005). Information and Communication Technologies in (n.d.): 1-9. Web. Sept.-Oct. 2014. This journal discusses the benefits of using technology in education, as well as the challenges it has created. The writer’s thoroughly researched paper convinces its readers of the vastness of the technological world. South Africa: Reforming Higher Education and Transforming the National System of Innovation. Academia.edu. N.p., n.d. Web. 05 Oct. 2014. This article is written to inform its readers about, the transformation of education with rapid inventions of newer technologies. Nurturing Leadership and Establishing Learning Organizations. Educational Innovations Beyond Technology. N.p., n.d. Web. Oct.-Nov. 2014.Selwyn, N., Gorard, S., Furlong, J. (2006). This research discuses the methods and technological innovations used in learning. Adult Learning in the Digital Age: Information Technology and the Learning Society. N.p., n.d. Web. Oct.-Nov. 2014. This research discusses the use of technology in education, as well as its impact on education.

Macys Department Store Repositioning Marketing Essay

Macys Department Store Repositioning Marketing Essay In 2005, Federated Department Stores (Federated) decided to pursue the repositioning and consolidation strategy of its 15 regional stores chains under just one national brandMacys. Federateds decision was in response to the decline in sales and profits of the traditional department store industry. Just three years later, U.S. was hit with the worst economic crisis since the Great Depression that threatened the existence of many successful retail giants, including Macys. In addition, in 2008, the loss in profits during Christmas of that year was just the tip of the iceberg for department stores that traditionally were used seeing the highest yearly profits during the holiday season. Other factors such as rise of gas prices that increased delivery costs to the stores along with rise of cotton prices due to issues with the crop that increased the prices of clothes made out of cotton further exacerbated the already fragile retail industry. In addition, Macys was positioned in the upper m iddle segment of the market and had no choice but to increase the prices of certain goods to its customers, thus leading to reduction in sales volume and profits. Moreover, Macys was faced with another challenge. The department store industry was divided into 5 market segment based on price of items. The segmented consisted of high-end luxury, high-end general, upper-middle, lower-middle, and the low-end areas. Additionally, since Macys was already in the upper middle segment of the market, the company could not immediately launch into the other four segments without spending time developing a workable strategy that will not negatively affect its revenue generation, brand image, market share and not to mention the continue availability of the jobs of many of its employees in different locations, and the retention of the loyalty of customers and suppliers. Furthermore, the traditional department store industry was in a declining stage and consumers were scare, which made competition for the existing companies to be aggressive for sliver of the limited profits that were still available. Yet competition within existing companies was not the only threat, discount stores like Walmart and Marshalls were beginning to build momentum in the market, gaining more sales. Of course, with the popularity of the Internet, online shopping was also rising in popularity, once again adding more retailers to the already heavily competitive environment. Thus, these factors propelled Macys to begin in repositioning and consolidating efforts to restore its vitality. Consolidation and repositioning tactics, from internal perspective, provided Macys an avenue in creating a national brand and reducing the unit cost of Macys advertising and promotional budgets considerably due to having one central hub for all administrative functions and bulk purchasing. The success of the consolidation strategy is attributed to several factors. For instance, Macys brand already had nationwide recognition as Americas department store through aggressive national advertising activities, Fourth of July Celebrations and Thanksgiving Day Parade. Additionally, when Federated had consolidated its regionally established department stores, these stores had a well-established customer base, were regionally well known, and were in prime locations close to business districts or large shopping centers, which meant that Macys did not have to put any efforts into developing business for those stores but rather maintain and increase business with them. Moreover, both Federated and Macys had solid leadership teams with strong retail and department store experiences. In fact, Federated management team was already well aware of the issues involving brand conversion since Federated had converted some of its regional stores to Macys brand prior to the official 2005 consolidation. The management team also had a well established relationship with major supply chain and distribution networks that were now selected to serve the Macys stores. Thus, once again Macys did not have to put any efforts into establishing new relationships but would simply have to maintaining the existing ones. Thus, the offshoot of the consolidation tactic enabled Macys to provide moderately priced goods to its consumers thereby maintaining high levels of competitiveness by remaining at the middle of a bell shaped curve and identifying it positioning as affordable luxury. Yet, offering affordable prices was not the only repositioning tactic used by Macys, the company also changed its brand from specific demographics to fashion conscious consumers as well as the younger female audience. Macys created a bridal registry and offered fashions made by younger designers to further differentiate its brand from the traditional department stores that had failed in their past attempt to attract consumers between ages of 18-25. In addition, Macys launched Everyday Value strategy program that promoted value pricing such that customers would be able to purchase products without having to wait for sales day and the availability of coupons to get the most bang for their buck. These tactics would enable Macys to broaden its consumer base, minimize the entrance of new competitors as well as the emergence of substitutes into its market segment. Despite the benefits of consolidation and repositioning efforts, there are some negative factors to consider. Change is often very difficult as most individuals are creatures of habit. Thus, consolidation of department stores to one brand (in this case Macys) meant that existing consumers who had regularly shopped at their favorite department stores (such as the conversion of Marshall Fields to Macys in Chicago) would now have to adjust to new products, prices and services. In fact, the perception of some loyal consumers post consolidation was negative, complaining that Macys store had lower quality products and services. Therefore, consumers were reluctant to shop at Macys. Unfortunately, Macys decision to standardize its products and pricing nationwide to lower purchasing cost actually backfired. In fact, standardization resulted in higher prices of products offered at Macys compared to the former regional department stores chains, thus consumers were apprehensive to shop at the ne w Macys. However, post consolidation challenges that Macys had encountered did not deter the company from pursuing its long repositioning and branding objectives. Macys continued to aggressively promote its brand nationwide through celebrity advertisement. The company forged ahead as an exponential revenue generating entity by focusing on fashion, adding Martha Stewart, Tommy Hilfiger and Beyonce product lines while still embracing the concept of affordable luxury and participating in Fourth of July Fireworks as well as the annual Macys Thanksgiving Day Parade. At the same time, Macys did not ignore the unfavorable results of its post consolidation and repositioning hiccups that threatened its brand and image. Instead, Macys made some necessary adjustments in order to accommodate its consumers. For instance, in response to negative consumer reception of the product and price standardization decision, Macys abandoned the strategy and instead tailored the product selection based on consumers ne eds. In this way, customers would have a pleasant shopping experience and begin to trust in Macys brand, which would increase the frequencies in which they visit Macys stores and make purchases. Additionally, as a result of the financial crisis in 2008, many department and retail stores offered promotional discounts such as percent off to sell overstocked inventory and attract consumers, Macys followed suit and discontinued its Everyday Value program to sustain itself during recession. Indeed, individually all of the above tactics are cash cows themselves therefore in combining them Macys was able to create a unique and valuable marketing position on the national landscape that would be difficult for its competitors to replicate. For Macys, the consumer became the basis for its strategies in terms of the market segments generated, the objectives of the national promotions and advertisings created, the remodeling of the stores for a better shopping experience, the focus on fashion rather than demographics, understanding differences in consumers needs and tastes and setting the price point at a moderate level. It was because of these tactics and strategies that the company began to increase its relevance and uniqueness among its targeted audience. Thus, Macys definitely found a way to be less conservative than the traditional department store as a results of its well developed and thought out and timely executed strategies, which should continue reaping the success f or several years to come.

Behaviorial Based Interviewing :: Human Resources

Behavioral interviewing is a technique employers use to determine if you are a good fit for the job. This is accomplished by asking questions that pertain to your past behavior. The information gained through this technique is used as an indicator of your future success. In other words, the answers you give about your past experiences will be used to predict your future performance (Quintessential) Employers use often use behavioral interviews to evaluate the candidates past behavior and experiences to determine their potential for success within the company. Organizations need to be prepared in searching for the right employee. There may be a wealth of talent looking for a job, but it's important to find right person who "fits" the company. Dr. Paul Green of Behavioral Technology, Inc. developed and trademarked the behavioral interviewing system. In behavioral interviewing, employers expect candidates to succinctly reveal specific stories about relevant work situations they encountered. If the interviewer does not receive an sufficient answer, the interviewer usually probes the candidate to receive more concrete examples. Although some consider this task time consuming, it is a valuable method in narrowing a large pool of applicants. In this technique, employers learn how people actually behaved in certain situations in prior jobs. Many human resources professionals believe this is a very effective predictor of behavior in future positions (Green). The employer identifies job-related experiences, knowledge, behaviors, skills, and abilities that the company desires for the particular position. Behaviorial Based Interviewing :: Human Resources Behavioral interviewing is a technique employers use to determine if you are a good fit for the job. This is accomplished by asking questions that pertain to your past behavior. The information gained through this technique is used as an indicator of your future success. In other words, the answers you give about your past experiences will be used to predict your future performance (Quintessential) Employers use often use behavioral interviews to evaluate the candidates past behavior and experiences to determine their potential for success within the company. Organizations need to be prepared in searching for the right employee. There may be a wealth of talent looking for a job, but it's important to find right person who "fits" the company. Dr. Paul Green of Behavioral Technology, Inc. developed and trademarked the behavioral interviewing system. In behavioral interviewing, employers expect candidates to succinctly reveal specific stories about relevant work situations they encountered. If the interviewer does not receive an sufficient answer, the interviewer usually probes the candidate to receive more concrete examples. Although some consider this task time consuming, it is a valuable method in narrowing a large pool of applicants. In this technique, employers learn how people actually behaved in certain situations in prior jobs. Many human resources professionals believe this is a very effective predictor of behavior in future positions (Green). The employer identifies job-related experiences, knowledge, behaviors, skills, and abilities that the company desires for the particular position.

Brooks’ Universal Issues and the Appeal to a Broad Audience Essay

Brooks’ poetry, so rich in personal detail and authenticity, often does not have to justify the moral side of issues like other poems usually do. Her work, for me, seems less confessional and more like realistic humanity, a difficult feat to accomplish when so much of the material speaks of inner turmoil, lost loves, and wistful sadness. Honest in tone and filled with common and often disturbing themes, the poems were ones I was able to connect with. â€Å"The Mother† and â€Å"The Sundays of Satin Legs Smith† are two poems that speak to me in terms of universal longing and pain. I have never had an abortion, but I know several people who have. In fact, last year I had an 11th-grade student who was pregnant, and I told her that I would gladly adopt the baby. She said she would consider it, but she ended up having the abortion. For a couple weeks after she got back, I kept wondering what that child would have been like; but then, I had to force myself to put it out of my mind. â€Å"The Mother† brought back all the joys of having a child and all the disappointments of not having a second one. â€Å"The Sundays of Satin Legs Smith† reminds me of that sinking feeling when you realize that the man you are with is not who you thought he was. You still love him, which makes the pain of a failed relationship that much harder to accept. I think of a couple specific men I dated before I got married (thank God I did not marry them), and I wonder at the decisions of women – the willingness to overlook the bad things because they are desperate to have somebody – anybody to fill the void. In â€Å"The Mother,† the speaker’s obvious pain and regret comes close to excusing her from the act of killing a child (for some readers it might exonerate her completely). In line one, the speaker confesses to a horrific action while simultaneously, with the pronoun you, imploring the reader to mentally relate to her experience. When the speaker remarks that, â€Å"Abortions will not let you forget,† she makes her abortion the readers’ abortion. Because of the personal pronoun â€Å"you,† readers must imagine themselves in the midst of one of the most painful decisions a woman can make. This simple choice of diction allows Brooks to comment on the universally-felt consequences of abortion: people never forget. The sentence structure in the irst line also serves to take the blame off the speaker and transfer it to the action. By writing that â€Å"abortions will not let you forget† and making the actual abortion the subject of the first sentence, Brooks makes the action of abortion that which will not let mothers forget, not the actual decision to get an abortion (made by the mother) the primary cause of the pain. By distancing herself from the act, Brooks allows the speaker to reflect on the consequences of the abortion without addressing the moral issues of the decision. With the usage of the 2nd person voice throughout the first stanza, Brooks continues to pull her readers into her (or the speaker’s) story, thus eliminating blame and creating a bond between reader and speaker. Using rich details to show readers what they will not experience because of an abortion, Brooks recounts several instances that typify the first year of a baby’s life: â€Å"You remember the children you got that you did not get, /The damp small pulps with a little or with no hair, / The singers and workers that never handled the air† (2-4). By stating that a mother who aborted a child did not â€Å"get† that child, Brooks creates a tone of one longing for a prize lost, as if the mother did not choose the abortion but rather was forced by someone else to make that decision. The speaker tells readers that they remember the child they did not get; as a result, the reader can picture facing the awful decision that the speaker and so many other woman have faced. The blame, then, dissipates into the possibility that all people must face difficult decisions in their lives. In the last three lines of the 1st stanza, Brooks’ choice in diction reveals the genuine love the speaker feels for the lost children. Although it seems paradoxical to love someone and then kill him, Brooks makes it easy for readers to believe that this is what the speaker actually did. She writes of those special moments that only a mother can understand: â€Å"scuttle off ghosts†¦control [the mother’s] luscious sigh†¦return for a snack of them with gobbling mother-eye† (8-10). A mother will brave ghosts and monsters (real or imagined) for her child, and sometimes it takes amazing self-control to simply stop staring in disbelief at the beauty of the child you have created. When my son was a baby, I used to sit behind him and just breathe in his lavender baby-smell. I felt like I could â€Å"gobble him up,† and I still do – but he, of course, won’t let me now. At 8-years-old he is a â€Å"big boy. † Brooks has somehow made the reader remember and re-live the good and beautiful aspects of having a baby; and yet, the poem is about abortion. By creating such a nostalgic mood in the reader, Brooks again takes the focus off of the terrible act of murder and waits until the second stanza to address the speaker’s regrets. With the nostalgic mood carrying over from stanza-one, the shift in stanza two works because the reader has already forgiven the persona for her sins. And yet, in answer to the readers who still have a difficult time accepting the harsh reality of the poem, Brooks makes a convincing argument in this second stanza, claiming that she still thinks about her babies, she regrets what she has done, and that she mourns the lives her dead children will never live. The first line of the stanza serves as the primary claim: â€Å"I have heard in the voices of the wind the voices of my dim killed children† (11). The speaker still thinks of her dead children; and like the wind that comes and goes, so too does the sorrow. There are times when people can forget about a loss, but then, like a strong gust of wind or even a gentle breeze, the memory will come back. This universal reaction to loss again puts the reader and the speaker in a similar position. Although the reader may not have gone through an abortion, there are bound to be issues that the reader wishes to forget and simply cannot. In lines 15-22, Brooks’ use of the word â€Å"if† escalates the tension in the poem by creating uncertainty about the speaker’s intentions. Most people would feel comfortable blaming the speaker for murdering an innocent life; however, with that first subordinating conjunction, the reader must accept the possibility that the speaker is not to blame for the murder: I have said, Sweets, if I sinned, if I seized/ Your luck/ And your lives from your unfinished reach, If I stole your births and your names, Your straight baby tears and your games If I poisoned the beginnings of your breaths When the speaker asks â€Å"if [she] has sinned,† she subtly implies that perhaps she did not do anything wrong. While not actually justifying her actions, her simple questioning of guilt reveals more in what it doesn’t say than in what it says, like the directing of a conversation or an order from a restaurant. When the bartender wants the patron to order top-shelf liquor, he will give the patron two choices, both of which are top-shelf. The patron has no other option (or so she thinks) but to order one of the two liquors the bartender has suggested. Brooks, then, gives the reader two choices where before, there was only one. The first choice is to believe that the speaker is fully to blame; the second is to question whether or not the speaker has done anything wrong. The next â€Å"if† sends a blatant and almost defiant message. â€Å"If I seized your luck† would imply that the speaker did exactly that; and yet, with the â€Å"if† in front of the action, the speaker recognizes the wrongdoing but justifies the action: she took the ability to have luck, and thus to experience life, from her unborn children. The â€Å"if† adds an element of inevitability. The speaker may recognize her mistakes, but she also suggests to the reader that something higher (or more powerful) than herself ultimately caused that action. With the juxtaposition of the words seized and if, Brooks creates a universal paradox: one of freedom of choice and yet helplessness. With assertive verbs like stole and poisoned, the speaker abandons this helplessness and continues her tones of defiance. Whereas the previous instances of the usage of â€Å"if† encourage the questioning of guilt and the possibility of speaker justification, the verbs stole and poisoned admit to a wrongdoing – albeit still with a sense of regret.

The History of the US Trade Deficit

The History of the US Trade Deficit One measure of a countrys economic health and stability is its balance of trade, which is the difference between the value of imports and the value of exports over a defined period. A positive balance is known as a trade surplus, which is characterized by exporting more (in terms of value) than is imported into the country. A negative balance, which is defined by importing more than is exported, is called a trade deficit or a trade gap. A positive balance of trade or trade surplus is favorable, as it indicates a net inflow of capital from foreign markets into the domestic economy. When a country has a surplus, it also has control over the majority of its currency in the global economy, which reduces the risk of falling currency value.  Although the United States has always been a major player in the international economy, it has suffered a trade deficit for the last several decades. History of the Trade Deficit In 1975, U.S. exports  exceeded imports by $12,400 million, but that would be the last trade surplus the United States would see in the 20th century. By 1987, the American trade deficit had swelled to $153,300 million. The trade gap began sinking in subsequent years as the dollar depreciated and economic growth in other countries led to increased demand for U.S. exports. But the American trade deficit swelled again in the late 1990s. During this period, the U.S. economy  was once again growing faster than the economies of Americas major trading partners, and Americans consequently were buying foreign goods at a faster pace than people in other countries were buying American goods. The financial crisis in Asia sent currencies in that part of the world plummeting, making their goods much cheaper in relative terms than American goods. By 1997, the American trade deficit  hit $110,000 million and heading higher. Trade Deficit Interpreted American officials have viewed the U.S. trade balance with mixed feelings. Over the last several decades, inexpensive imports  have aided in the prevention of inflation, which some policymakers once viewed as a possible threat to the U.S. economy in the late 1990s. At the same time, many Americans worried that this new surge of imports would damage domestic industries. The American steel industry, for instance, was worried about a rise in imports of low-priced steel as foreign producers turned to the United States after Asian demand shriveled. Although foreign lenders were generally more than happy to provide the funds Americans needed to finance their trade deficit, U.S. officials worried (and continue to worry) that at some point those same investors might grow wary. If investors in American debt change their investing behavior, the impact would be detrimental to the American economy as the value of the dollar is driven down, U.S. interest rates  are forced higher, and economic activity is stifled.