Life Cycle Analysis of the Fashion Industry

Life Cycle Analysis of the Fashion Industry BY caracal Industrial Ecology Practices in the Fashion Industry Introduction The industrial revolution in the sass brought a paradigm shift to the way humans interacted with the environment. The increased capability of producing and manufacturing on a large scale, the rise of multiple industries, growing demand and proliferation of hedonistic consumption patterns, has created a culture of surplus, want and waste. (Fallacy-Companion, 2012) From an environmental point of view, this resource hungry trend is unsustainable and has detrimental ecological impacts, such as pollution and climate change.These problems have highlighted the consequence of our insatiable demand for resources and the need to rethink current practices and thoughts in order to maintain current living standards and ensure future growth. The ideas of environmental management, industrial ecology and ecological footprint have been proposed to allow for a meticulous look to the products that we manufacture and use, with emphasis on measuring the ecological impacts in hopes of reducing them.A multitude of tools have since been created to measure efficiency in hopes to highlight areas for improvement, of which the ISO standard and Life cycle assessment are part of. Undoubtedly, many companies have adopted life cycle analysis (LLC) in order to assess and reduce their product's impact on the environment. The fashion industry, at its core, is based on the notion of continual consumption of the ‘new and the discard of the ‘old', especially with new seasonal lines coming out every 3 months.The industry celebrates creativity with the continuous turnover of trends, leading to the â€Å"premature product replacement and fashion obsolescence†. This constant change has major negative environmental and social impacts, particularly on those at the bottom of the supply chain. Ellwood et al, 2006; Whether and Leastwise, 2008) Moreover, delicates produc tion, often all over the world, is commonly practiced in line with the competitive advantages of different locales (such as low-cost labor, less stringent standards/regulations, strength in technology etc).Studies of Ellwood et al (2006), Madsen et al (2007) and Fletcher (2008) have highlighted issues of apparel waste as the majority of textile waste are not recycled or reuse but usually ends up in landfills. In this report, Nikkei Inc. And Levi Strauss & Co. Are chosen as case studies of the fashion industry for their efforts o apply LLC to their products. Life Cycle Assessment and IS014040 The International Organization for Standardization (SO) is an organization that aims to promote worldwide standards for proprietary, industrial and commercial purposes. ‘SO, 2013) The ISO 14000 series is a family of standards that related to environmental management, which aims to help organizations measure and minimize operations that will negatively affect the environment and comply with environmental regulations and audits required in the country of operation. For example, the ISO 14001 is integral to the European Union's CEO-Management and Audit Scheme (AMASS). AMASS, 2011) Before the development of the ISO 14000 series, most organizations had to rely on internal environmental management systems that made comparisons between companies difficult.The ISO 14040 standard focuses on Life Cycle Assessment. LLC is a technique to assess environment impacts associated with all the stages of a product's life from its raw material extraction to its processing, manufacture, distribution, use, repair, recycle and disposal. It is believed to encompass a larger scope of environmental concerns as the compiled inventory of relevant energy and material inputs and environmental releases includes the attention impacts associated with the identified inputs and releases, which can then be interpreted to help make informed decisions and build corporate environmental strategies. EPA, 20 13) The method is most often used for the pinpointing potential for process improvements by assessing environmental impacts associated with all stages of a product's life. (Securing & Mueller, 2008) ISO 14040 standards shows how the LLC is to be carried out in four distinct phases as seen in Figure 1 before. Before any LLC can be carried out, an explicit goal and scope of the study, inclusive of technical details, has to be defined. This can then serve as a reference to guide the subsequent work.The functional unit, system boundaries, assumptions and limitations as well as the impact categories are identified and set in this first phase. The life cycle inventory analysis will then carry on from phase one by creating an inventory of all flows (input and output) between the stages of a product system, inclusive of all activities in the relevant supply chain and gives a clear picture of the system boundaries. Only when this is complete can the life cycle impact assessment be carried ou t.This is the most complex stage of the process as it aims to evaluate he significance of potential environmental impacts and calculate the input and output from the inventory. At the end of the assessment, the information gathered is evaluated and the assessment is objectively assessed before the identification of significant issues and problems, its evaluation and limitations are put forth. Figure 1 : The 4 phases of LLC (http://en. Wisped. Org/wick/ File:PhasesOfLifeCycleAnalysis. Eng) Current Context and Trends Environmental Management has progressed significantly over the years with regulations becoming more stringent and accountability expectations higher. Figure taken from Penman's (1999) report shows a simple evolution of environmental policies and their primary characteristics from the sass to present, whereby attitudes towards the environment have changes from merely managing the problem in the early days to one that is more actively involved in trying to prevent problems. Figure 2: Evolution of environmental management (Seaman, 1999) Within the industry and companies, Lamming ; Hampton (1996) stresses the need for companies to engage in environmental management as public pressure is and will continue to be a major factor. In their study, 75% of customers state that they would consider a Meany's environmental reputation when purchasing and 80% of those would be willing to pay a premium for an environmentally friendlier product.Although there are limitations to their study, in that the sentiment may only be shared by the European community of consumers, there is a trend whereby consumers are becoming more green conscious. Hawked et al (1999) in the book ‘Natural Capitalism' also calls for companies to embrace a new industrialism that will create profits and jobs while saving the environment, through the creation of a closed-loop supply chain that will generate more value and profit. By aggressive recycling, there is the potential of reducing up t o 90% of energy and materials consumption.Although individual organizations are recognizing the need and their responsibility to address environmental and sustainability issues, there remains a lack of systematic and coordinated effort across the board. At a larger and general scale, there has been an increase of government level interest and engagement to transition sustainability at the firm and facility level, to one that is more holistic and encompasses production sustainability throughout the value chain. Golden et al, 2011) President Obama issued Executive Order 13514 in 2009 that requires â€Å"the reduction of greenhouse gas emissions, obtain 50% diversion rates of solid waste, pursue opportunities with vendors to reduce greenhouse gas (GOGH) emissions, ensure procurement preferences for energy-efficient products, and reduce consumption of paper with low recycled content†. Likewise the Securities Exchange Commission and the Federal Trade Commission are driving the use of sustainable product design and supply chains by the issuance of directives and interpretive guidance. Golden et al, 2011) Since the fiasco of â€Å"sweatshop† labor in the sass, leading to public outcry and clash on the fashion industry, there has been unison of calls for greater accountability. (Whether and Leastwise, 2008; Clownish et al, 2012) Especially in an industry where the consumers are the largest stakeholders; public opinion is crucial and highly influential. This helps the environmental cause when more consumers become green conscious and demand for a smaller ecological footprint. There is a need to cater to these consumers and for companies to set themselves apart from their competitors. Kumar & Amalgamate, 2006) Environmental consciousness has been worked into the corporate social responsibility (CAR) of many companies and increasingly, in the fashion industry, CEO-fashion is trying to capture a larger share of the mainstream market with fashionable and envi ronmental apparel. Regions, 2006) There is also the emergence of industry consortia such as the Sustainable Apparel Coalition (SAC), the Sustainability Consortium (TTS) and the Outdoor Industry Association (IA), all of which are multi-stakeholder organizations that are suited for establishing standardized metrics for regulation.Nikkei and Levies are both part of the SAC. Case study: LEVI STRAUSS & CO. Company Background The company, Levi Strauss & Co. Was founded by its namesake, Levi Strauss onetime in the mid-sass. It started off as a dry goods wholesaler before collaboration between Levi and Jacob Davis, a tailor, in 1872 saw the filing for its patented rivet pants- the start of the denim company that it is known for today. Over the years, the company have grown tremendously and has expanded its brands carried.Its current brands include Levi'†, [email  protected], Signature by Levi Strauss & Co. And [email  protected] The company has a vision to be â€Å"the embodiment of the energy and events of our times, inspiring people with a pioneering spirit† (Levi, 2013) and is committed to a variety of issues in its public policy approach that includes read, worker rights, equality and the environment. Since the sass, with the rise of global environmental concerns and problems, Levies have been working on reducing the environmental impact of its products.This was done by complying with environmental regulations, implementing a Code of Conduct for its suppliers- ensuring a reduction of water consumption and ending the use of harmful chemicals on its Restricted Substances List, switching to organic cotton when possible and increasing the amount of recycled materials in their end product. In 2007, as part of an attempt at a consolidated look at the company's environmental impact, a LLC was one on 2 products- a pair of Levi'† 5018 stonewashed Sears and the [email  protected] original khakis.This enabled the company to develop strategies that wi ll address the greatest impacts on the environment to ensure longevity in the industry. (Levi, 2013) Levies introduced its water;less Sears in 2011 and its waste;Less Sears in 2013. Waste;Less Sears has a minimum of 20% post-consumer recycled content (from PET bottles) instead of cotton. Ferries, 2013) Levies Life Cycle Assessment Levies product lifestyle assessment focuses on a quantitative method that looks at ass and energy balance using direct and indirect data over the â€Å"cradle to grave† lifespan of the product.A disclaimer on their website states that this LLC does not include social or economic impacts. In the input/output inventory aspect of the LLC, indirect data of mass and energy inputs are taken from extensive industry-average data sets. Together with the system analysis of the lifestyle assessment, in accordance with ISO 14040 requirements, the data is then translated to calculate the environmental impacts of the system. Figure 3 below shows the 6 stage syste m analysis of the 5018 Sears taken from the Levies website, that starts from the cotton production till the end of life after consumer use.Figure 3: LLC of a pair of Levies 501 Sears (http://alleviators. Com/sites/default/files/ liberationists/2012/4/ca-summary-2012-update. PDF) Phase 1: Goals and Scope Levies wanted their LLC to be done on a high volume product, produced for the U. S. Market during the 2006 production year. The Levi'† 5018, medium stonewashed Jean was chosen. The data compiled from Levi Strauss and Co. ‘s suppliers is processed via Gab 4 software datasets, following the ISO 14040 series standards. The LLC was conducted by PEP Americas from Boston, MA.The results were intended for internal use and with the option to share selected data publicly after addition reviews. Phase 2: Inventory Analysis Figure 4 shows the system boundary of the Levies 501 Jean, from the different places where cotton is sources, the different production plants, distribution chann els to its end. Figure 4: Levies 501 Jean System Boundary (Levi, 2013) Phase 3: Impact assessment After gathering information and data, Levies was able to measure the climate change, energy and water use of their best-selling Sears, with interesting results.A pair of original Levies has a global warming potential of 15 keg CA equivalent, consumes MAIM] of energy in its production process and only has 1% of its ingredients that are recycled. (Gaskin, 2012) Figures 5-7 show a breakdown of the weight of different factors and their impacts. Unsurprisingly, the growth of cotton was the most water intensive stage in the LLC, with the usage of the Jean being the next highest. Usage however was by far, the biggest contributor of energy use and climate change.This is due to the long lifespan of the Jean (denim as a material can be quite hardy) and the instant wash cycles can add up significantly over time. Figure 5: Impacts on energy use (Levi, 2013) Figure 6: Impacts on water use (Levi, 201 3) Figure 7: Impacts on climate change (Levi, 2013) Phase 4: Interpretation From the LLC, Levies realized that the majority of environmental impacts occur in the lifestyle phases that are outside their direct control. Reducing the overall environmental impact requires a two-pronged approach of focusing on internal operations whilst engaging consumers.Internally, Levi started looking at cotton production at the farmer's level, switching to organic cotton when possible and articulating in projects such as the â€Å"Better Cotton Initiative†, as cotton growing is water intensive. They also reduced product packaging and tweaked product design and manufacturing to reduce their water and energy use- the water

Fpi Assignment

Executive Summary The report is regarding to the knowledge of analyzing the accounting data of a listed company, using the various accounting information that provided to identify and examine the competitiveness and efficiency of the listed company. Besides, in order to examine the reliability of the data provided, analysis of the balance sheet and income statement is required. The financial information can be obtained from the annual reports of Harbour-Link Group Berhad.In addition, the report is required to include the top-down approach which consists of Economic analysis, Industry analysis and Fundamental analysis to analyze the listed company in the point of view for investors. Table of Content 1. Introduction 1. Objectives 2. Analysis of the statement of financial position, the statement of financial performance and cash flow statement. 1. Financial Analysis ratio: Asset efficiency ratio Capital Structure ratio Liquidity Ratio Profitability Ratio Share Price 3. Economic Analysis 4. Industry Analysis . Conclusion 6. Findings 7. References Introduction In this report, Harbour-Link Group Berhad is chosen among the listed companies. Harbour-Link Group Berhad is an investment holding company which provides shipping, forwarding and transportation, plant and machinery hiring, and engineering contract services primarily in Malaysia and Singapore. Harbour-Link Group Berhad was founded in the year of 1975 and it is based in Bintulu, Sarawak, Malaysia. It was officially listed on Bursa Malaysia Securities Berhad in the year of 2004.Today, Harbour-Link Group’s success lies in its strong foundation of expertise in the industry and its ability to established the company as a reputable brand-name within the shipping, sea freight forwarding and transportation industries. Objectives 1. To identify the sources of funds, Balance Sheet and profit or loss of the Harbour-Link Group Berhad. 2. To analyze accounting data of Harbour-Link Group Berhad to examine its financia l performance using Financial Performance Indicators (ratio analysis) 3.To analyze the economy status, competitors within the same industries and evaluate the operating efficiencies of the listed company. 4. To examine the competitiveness and efficiency of the listed company by using the various accounting information provided. Financial Analysis Financial analysis ratios are used to examine the financial performance of a company in which it will be reflected in the ratios calculated. (Giles et al, 1994, p. 371) Asset efficiency Ratios Asset turnover ratio From the data calculated, the asset turnover ratio for the financial year of 2008, 2009 and 2010 are 109. 9%, 92. 12% and 79. 65%. This indicates that the Harbour-Link Group Berhad is not doing well in the sales of the products or services because the asset turnover ratio is decreasing from year to year. Debtor turnover (in days) Debtor turnover is the debtor collection period of a company. Harbour-Link Group Berhad had a debtor t urnover of 73 days in the year of 2008. In the year of 2009, the debtor turnover is 77 days. However, its debtor turnover is decreased to 71 days. This reflects that the possibility of default risk for the debtors is decreasing.In fact, this is a good thing in a company. Inventory Turnover Inventory turnover measures how many times the company can sell through its inventory for each year. In the year of 2008, Harbour-Link Group has an inventory turnover of 163 times. The turnover increased to 212 times in the financial year of 2009 but the inventory turnover decreased to 127 times in the year of 2010. This reflects that the company can sell better in the year of 2009 but it dropped tremendously in the year of 2010. Capital structure Ratio Debt to equity ratioThe debt to equity ratio of Harbour-link Group Berhad is decreasing from the year of 2008 to 2010 by 2%. This is caused by the reducing of total liabilities and the increasing of the total equity. Time interest earned The times- interest-earned ratio allows a lender to evaluate the company’s ability to meet its debt obligation. It is a ratio of the earning before interest and tax over the interest expenses. The time interest earned has a slightly increased from the year of 2008 to year 2009 but it has a greater decrease in ratio amount from the year of 2009 to year 2010.This means that in the year of 2010, Harbour-Link Group Berhad have lesser earnings are available to meet the interest payments and this makes the company to be more vulnerable to the increases in the interest rates. Liquidity Ratios Liquidity ratio is the ratio that is used to examine the liquidity of a company. It includes: Current Ratio Current ratio is the ratio of current assets to current liabilities. Harbour-link Group Berhad has it current ratio decreasing from the year of 2008 to 2010. Its current ratios are 1. 90, 1. 76 and 1. 57 respectively. The ratio is decreased by 14% and 19%.The data is calculated as shown in the findi ngs. Liquid Ratio Liquid ratio is the ratio of (current assets-inventory) to (current liabilities-bank overdraft). Harbour-Link Group Berhad has borrowings so there is bank overdraft existed and that’s why it is classifies as a debt financing organization. The company has a higher liquid ratio of 2. 34 in the year of 2010 compared to the year of 2008 and 2009 which is 1. 88 and 1. 75 respectively. The liquid ratio of the 3 financial years exceeded 1 and this indicates that the current assets are greater than the current liabilities.Higher liquid ratio reflects better performance of the company. Net working Capital Net working capital is the difference between current assets and the current liabilities. In the three financial years, Harbour-Link Group Berhad has the highest net working capital of RM 51. 4 million in the year of 2008. The figure of net working capital for Harbour-link Group Berhad decreased in the year of 2009 and 2010 by 0. 43% and 12. 32% respectively. This s hows that there is a drastic drop in the net working capital of year 2010. Profitability Ratios EBIT to total funds ratioEBIT to total funds ratio of Harbour-Link Group Berhad is decreasing in the range of 22% from the financial year of 2008 to 2009 and 21. 4% from the financial year of 2009 to 2010. The total funds consist of shareholders’ funds and borrowings. According to the annual report, Harbour-Link Group Berhad is practicing debt-financing to raise funds because there is borrowing existed. Return on Equity (ROE) Harbour-link Group shows a decrease in net income from year 2008 to 2010. This situation leads to the decrease in the return on equity (ROE) of 5%.In the financial year of 2010, it has the ROE of 0. 08 which indicates that for every RM1 of the capital that the shareholder invested into, they will get 8% of return. Return on Assets The return on assets measures the productivity of assets in terms of the level of profits each dollar of assets generates. (Karen D . H, 2004, p. 131) The return on assets of the Harbour-Link Group Berhad is decreasing from the financial year of 2008 to 2010. It decreased from 8% of year 2008 to 7% in the year of 2009 and then 5% in the year of 2010.This implies that the productivity of the company’s assets is not doing well in terms of profits that the assets generated. Net Profit Margin The net profit margin is the ratio of net profit after tax to the total revenues. In the financial year of 2008 and 2009, Harbour-Link Group Berhad has the net profit margin figure of 8%. It indicates that the company has a net income of RM0. 08 for each RM1 of sales. However, the net profit margin for the year of 2010 decreased by 2% which is only 6% in the financial year. This shows that for every RM1 of sales made by the company in year 2010, the net income is only RM0. 6 which is RM0. 02 lower than the previous year. Share Price Price to Earnings Ratio (P/E) Price to Earning ratio is calculated by using the share pri ce of the year 2010 over the earnings per share. The market price of Harbour-Link Group Berhad was amounted to RM 0. 72 in the year of 2010. From the annual report of the financial year of 2010, the earning per share is RM 0. 11. By using the formulae, the price to earning per share of 2010 is calculated as shown in the table with a figure of RM 6. 825. Current Economic Analysis Roots of Global financial crisisGlobal financial crisis are usually caused by bad regulation of the banking sectors, failure of fiscal and monetary policy implemented and so forth. In the year of 2008, Financial crisis began with the declared of bankruptcy of Lehman Brothers Holdings Inc. which is the fourth largest investment bank in United States. It was a severe ongoing world financial problem that began in U. S in the year of 2008. This recession has entirely hitting on the fragile global economy with the tremendous devastation in countries all around the world. The U.S government was trying to point the finger of the financial crisis to the rating agencies, who knew about the great risk that was coming but kept giving high reliability ratings to companies that did not deserve them and thus investors invested in the wrong companies. The cause of the bankruptcy of Lehman Brothers Holdings Inc was the accumulation of debt and the increasing of loan defaults. Why it evolved into a world crisis The news on bankruptcy of Lehman Brothers Company led to the drastic fall in the share price all over the world.The company had billions of dollars losses incurred in the mortgage market of United States. (BBC NEWS, 16th Sept 2008) In Lehman Brothers’ case and the other investment banks, the problem was provoked by 2 major factors which are the very high level of leverage ratio and the dependence on short-term debt financing. Commercial banks cannot leverage their equity more than 15 to 1 as they are regulated but for Lehman Brothers Company, it had a leverage ratio of more than 30 to 1. According to the table 1, Lehman Brothers had only $3. 30 of equity for every $100 of loans. With this ratio, it makes the company to be insolvent.Conversely, the instability arose from the leverage problem was aggravated by the strong reliance on the short term debt. Based on table 1(Lehman Brothers Liabilities and shareholder’s equity), at the beginning of the crisis, the company financed greater than 50% of the assets. Reliance on short term debt financing is profitable indeed when it comes to a low interest rate market environment. However, when the company faced rumors of the insolvency problem, the short term lenders will start to have doubt on the company’s performance and therefore, they will start to withdraw their funds from the company for self interest protection.This scenario will lead to a shortage of liquidity for the borrower and thus the company tends to default. After the crisis began, Lehman Brothers did try to decrease its leverage and reduce its de pendence on the short term borrowing but it was too late for them to amend the situation and therefore, bankruptcy occurred. The bankruptcy of Lehman’s brother forced the reassessment of risk in the market by looking at the price of the credit default trades. Impact on Malaysia and world economies The crisis started in the year of 2008 had a great hit on Malaysia and world economies.It causes the gas price had a drastic drop, decreasing of the value of real estates, the increasing of unemployment rate, Federal debt crisis and inflation. There is a global explosion in commodities price. The price of crude oil was remaining at high levels for few years till the end of 2008, the crude oil price dropped from the peak in July 2008 of US$145 to US$30. 28 per barrel in December 2008. (Forbes, 2008) According to the findings in table 2, the unemployment rate of Malaysia increased by 3. 13% from the year of 2008 to 2009 and 12. 12% from the year of 2009 to 2010.Malaysian future econom ic At first, Malaysia was aiming to have 9% of average annual Growth Domestic Product (GDP) until 2020. Suddenly, according to the Economic Planning Unit, the government noted that the number is absurd then they changed and told that Malaysia was capable to achieve 5. 4% of Growth Domestic Product (GDP) annually over the next 10 years to achieve the objective of becoming a high income economy by 2020, which is the vision 2020 (East Asia Forum, 2009). These seem that Malaysia’s economic future is uncertainty. It keeps changing.Besides, Malaysia’s government has a close relationship with its private businesses. Because of the relationship with some business groups have ostensibly led to the emergence of political cronies with unlimited access to public resources. Not only the relationship that mention above but also the experience of neighbouring Indonesia shows that it is a dangerous trend that could negatively affect economic development in the future. In this matter, changes in political leadership led to unstable political environment. Although it does not directly effect on Malaysia, it threatens he influx of refugees caused damage regional stability and social stability. Malaysia's maritime economy can be defined as the production and manner of use of the range of goods and services that are linked to the maritime sector (Abdul Aziz Abdul Rahman, 1997). It covers the activities that are resource based, including fisheries, oil and gas, marine biotechnology and those that are service based such as shipping ports, shipbuilding and repair and the myriad range of ancillary maritime services (Maritime Institute of Malaysia,2005).Malaysia's main concern is the future of marine economy of the future of Malaysian trade, because the country's foreign and domestic trade, or even almost totally dependent on sea transport facilities. From this we can know that it will have a very bright prospect in maritime economy. If Malaysia is to achieve the goals of industrialization, productivity-driven growth and enhancing competitiveness will depend on how the maritime sector is managed. The maritime sector has a main role to play in enhancing productivity-driven growth. An important element that will affect efforts to sustain international competitiveness is productivity.But, for longer term, Malaysia will need to maintain its international competitiveness, since there is rising competition from other emerging markets for Foreign Direct Investments (FDIs) and for the transfer of modern technologies. Environmental issues are also important for Malaysia in the longer term as deforestation and global climate change may destabilize the country's agriculture, which still plays an important role in the national economy. What is the most important is the political will effect a change to system-centred thinking in planning the future of the economy. So, a stable political environment is very important to Malaysia.If the political environment of M alaysia is good, it will have a bright future of economy. Solutions to the Global Financial Crisis or crises in general. Banks and financial institutions can cause a downswing of an economy because of their ignorance of the business cycle. Besides, bankers are greedy with the fat bonuses that they will gain if they get the highest market shares results. When the economy is doing well, they expect that there will be no recession problem is going to occur and therefore they will give loans to their customers without considering their customers’ affordability to repay the loans.Once their customers cannot afford to repay the loans, recession will occurs. To overcome these crisis problems, several steps can be used. Government and bankers often intervene to smooth the peaks and valleys of the economic cycle. There are two objectives that the government and bankers can do to prevent serious downswing of an economy. 1) Speedy intervention to prevent a self-perpetuating downward spi ral, which means protecting depositors at minimal long term cost to the taxpayer.For example, the Federal reserve may restrict the money supply in good times to slow the expansion phase of the economic cycle, or deficit spend and cut interest rates to ease the recessionary phase of an economic cycle. 2) Ensure so far as possible that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place. The growth of consumer credits will increase the consumption of the consumer. The increase in the consumption will increase the aggregate demand of the country whereby AD equals to C + I + G + (X-M). Mc Taggart et al, 2007 p. 766). When the AD is increasing, it means that GDP is also increasing. This shows that the consumer credits provided will also be increased and therefore people will keep on borrowing money from the banks for consumption. This situation actually can amplify the business cycle a nd extend the upswing of the economy. Industry analysis The domestic and the world economy were in a downturn in the year of 2009. All the industry was affected and they are making an effort to maintain their previous performance and growth momentum. In the year of 2009, Harbour-Link Group Berhad suffered revenue declined by 5. 9% to RM 327. 6 million. The revenue decreased again by 5. 76% to RM 308. 7 million compare to the previous year due to lower selling prices and softer consumer demand. One of the Company competitors, Swee Joo Berhad was also suffered by achieved a turnover of RM 346. 7 million which is 9. 9% lower than the previous financial period. The lower turnover was also impacted by the recovery state for the economy. Swee Joo Berhad has a reduce in current ratio from 0. 648 to 0. 278 which seems to be lower than that of the Harbour-Link Group Berhad and therefore Harbour-link seems to have a better current ratio.Swee Joo Berhad has a negative figure for its Earnings b efore interest and tax of -11. 32 million and -176. 82 million in the year of 2009 and 2010. This is a huge loss for the company. It shows that Harbour-Link has a better performance than its major competitor, Swee Joo Berhad. Although the economy showed signs of recovery, but most of the economists hold that the sustained global recovery is still vague. This situation greatly influenced the consumers spending behavior. According to the Edge, Harbour-Link Unit obtained the secured contracts of RM75. 2 to supply gantry cranes for the Bintulu Port Sdn Bhd.The contracts were expected to be done in the year of 2012 and it’s also expected to escalate the future revenue and earnings positively for Harbour-Link Group Berhad. (The Edge, 11 April 2011) There are several ways for the companies to perform better during this hard period. However, the suppliers are also important causes which will affect the company performance. Although Harbour-Link Group Berhad suffered lower revenue dur ing the year, however, it obtained quite a number of big projects with a favorable amount of contracts worth which is believed to boost the revenues for the future of the company itself.This scenario will assist Harbour-Link Group Berhad to create a stronger visibility and allow it to be well positioned for the economic recovery. Findings [pic] Table 1 shows Lehman Brothers Liabilities and Shareholders’ Equity Source: Lehman Annual Reports |Year |Unemployment Rate |Percentage Change | |2006 |3. 60 | | |2007 |3. 50 |-2. 78% | |2008 |3. 20 |-8. 7% | |2009 |3. 30 |3. 13% | |2010 |3. 50 |12. 12% | Table 2 shows the unemployment rate in Malaysia Source: CIA World Factbook Conclusion In conclusion, although the Harbour-Link Group Berhad has a downturn in its overall performances in the financial year of 2009 and 2010 as the results shown in the findings, but it has a better performance than its main competitor, Swee Joo Berhad in the shipping industries.The Harbour-Link Group Berha d is overall well organized in its financial statements as shown in the annual reports and it can be categorized as a profitable and successful listed company in Malaysia. On the perspective of investors, Harbour-link is counted as a good investment company and therefore investors are advised to consider Harbour-link Group Berhad as one of their investment company because the company has a good expectation to have a huge increase in its future economic benefits.The future economy of Malaysia is expected to have a good return and therefore this ensure that Harbour-Link Group Berhad is a wise investment for the future benefits. References Abdul Aziz Abdul Rahman, 1997, The Maritime Economy of Malaysia, Pelanduk Publication BBC News, 16 September 2008, http://news. bbc. co. uk/2/hi/business/7615931. stm Bursa Malaysia 2010- Equities, Bursa Malaysia Berhad, viewed on 26 April 2011 http://www. bursamalaysia. com/website/bm/market_information/prices/ East Asia Forum, Malaysia’s Eco nomic Future, view on 1 May 2011, http://www. eastasiaforum. org/2009/11/24/malaysias-economic-future/Encyclopedia of the Nations, Malaysia- Future Trends, viewed on 2 May 2011, http://www. nationsencyclopedia. com/economies/Asia-and-the-Pacific/Malaysia-FUTURE-TRENDS. html Forbes 2008- Crude Oil Prices 1861 – 2009, Forbes. com 2010, viewed on28 April 2011, http://www. forbes. com/2008/05/13/oil-prices-1861-today-real-vs-nominal_flash2. html Giles, R & Capel, J 1994, Finance and accounting, 3rd Edition, MacMillan, London Harbour-Link Group Berhad 2011, harbour. com. my; Total Logistics &EPCC Provider N. V 2009&2010, Harbour-Link Group Berhad, viewed on 22 April 2011, http://www. harbour. om. my/ Karen D. Halpern, 2004, Understanding Finance: Money, Capital and investments, Pearson, New Jersey. Maritime Institute of Malaysia, Malaysia and Port Competitiveness, 2005 Mc Taggart et al, 2007, Macroeconomics, 5th Edition, Pearson, Australia The Edge Financial Daily, 11 April 2011 v iewed on 24 April 2011. http://www. theedgemalaysia. com/ The Star Online 2011- Market watch, Star Publications (M) Berhad, viewed on 24 April 2011, http://biz. thestar. com. my/marketwatch/charts/l. asp? code=2062~HARBOUR&p1=0. 99&p2=0. 985&p3=0. 99&p4=0. 985&p5=0. 99&p6=0&p7=0. 00&p8=915&p9=0. 532

Research method critique Essay Example | Topics and Well Written Essays - 2500 words

Research method critique - Essay Example Qualitative as well as quantitative research methodologies are regarded as two distinct approaches that need to interpret differently. In this regard, qualitative research is defined as an approach of exploring various issues, analysing facts, comprehending phenomena and responding to any question. Conversely, quantitative research is based on collecting data by undergoing through numerous statistical reports and other relevant data (Creswell, 2013). According to Nursing & Midwifery Council (NMC) Code of Conduct 2015, nursing research is regarded as the approach of enhancing public protection by ensuring the nurses as well as the midwives to remain fit into the practice in their respective careers. Specially mentioning, the importance of evidence-based practice with reference to NMC Code of Conduct 2015 lay in offering quality treatments as well as care to the patients by accessing valuable information and also considering past evidences or records regarding the above stated context (Nursing Times, 2014). The elements relating to robustness of the research fundamentally entail statement of the phenomenon, literature review, theoretical framework and ethical considerations among others (Ryan & et. al., 2007). Research work in medical field is executed from long course of time. The research work conducted by Lee (2013) focused upon generating greater level of awareness about good hygiene practices amid the nursing students. The research highlighted hands’ decontamination and usage of gloves as the better prevention measure for cross infection (Gray & et. al., 2013). The research work of Lee (2013) reveals about the decision-making procedure, which is used to evaluate the risks involved with nurses and other medical practitioners. Another aspect of Lee’s research is identified to make decisions as to when, where and how infections could be prevented by the nurses

Within almost all eukaryotic cells the endoplasmic reticulum, Golgi Essay

Within almost all eukaryotic cells the endoplasmic reticulum, Golgi complex and endosomes can be considered as a system, cooperating to deliver secerted material to the cell surface - Essay Example Why is it that all these are considered as a system? This is because it has a set of membranes forming a single functional and developmental unit that are either connected directly or exchanging materials via a vesicle transport. Nonetheless, it is vital to note that the system does not include the chloroplasts and mitochondria membranes (Cooper, 2000). This paper seeks to discuss the statement that states, â€Å"Within almost all eukaryotic cells the endoplasmic reticulum, Golgi complex and endosomes can be considered as a system, cooperating to deliver secreted material to the cell surface.† To understand and discuss the above statement in greater length, one must understand the mechanisms and definitions of various terms. Some of these terms include: Golgi apparatus, eukaryotic cells, endosomes among others. Generally, the nuclear or atomic envelope is a layer with two lipid bilayers that envelops the substance of the core. The endoplasmic reticulum (ER) is a blend and transport organelle that extends into the cytoplasm in both animal and plant cells (Cooper, 2000). The Golgi apparatus refers to an arrangement of numerous partitions where particles are bundled for conveyance to other cell segments or emission from the cell. Additionally, vacuoles, which are present in both animal cells, though it greatly manifests in plants, are in charge of keeping up the shape and structure of the cell. In addition, they put away waste items. A vesicle is a little, membrane-encased sac that acts as a storage and transportation agent for substances. The plasma membrane, likewise alluded to as the cell layer, is a defensive hindrance that controls what goes into and goes out of the cell. There is additionally an organelle known as the spitzenkorper that is just present in parasites and is associated with the development of the hyphae tip (Cooper, 2000). In prokaryotes, endomembrane is

Organizational Behavior & Leadership Essay Example | Topics and Well Written Essays - 750 words

Organizational Behavior & Leadership - Essay Example Coercive power is the power of a manager to exact fear as a form of punishment or penalty for subordinates or rank and file employees who commit some forms of misdemeanors against company rules and regulations. Referent power is a particular leader’s ability to influence subordinates through charisma or certain personal attributes that the rank and file can identify with, making them quite devoted to that leader. Referent power usually makes the manager practice more affinity with his or her subordinates that would make them more of a mentor, rather than the exacting leader or manager. While this may embolden employees to emulate their heads’ or supervisors’ mild managerial approaches, it affects the way the leader is able to apply leverage in cases where disciplinary action must be enforced. And last, but not the least, is expert power which shows the manager’s cognitive ability or knowledge in a particular field making the manager the expert from whom th e employees can gain information, so they can do their particular jobs successfully (Turner, n.d. b). The marketing manager of Employee 1 uses both the legitimate power and the reward power, because Employee 1’s manager is able to require him to work forty hours and beyond a week within the legal bounds of his authority as a manager in the organization. Likewise, Employee 1’s manager utilizes his ability in motivating employees to work hard beyond their normal office hours by reminding them of the yearly bonus, which will be given to them accordingly, should they pass and get an outstanding rating on their next evaluation. And this is what propels Employee 1 to work very hard, so he can get the bonus in order to avail of his dream vacation. Aside from utilizing the legitimate power and reward power, Employee 1’s manager also employs coercive power since all the employees in the marketing department are being constantly reminded that if they want to get the hefty bonus then they must spend more working time for the company. Although punishment for not working beyond the regular hours was not mentioned in the given scenario – the employees assigned in the marketing department are not only motivated by wanting to get the bonus but also of the fact that if they did not perform well as per the pending evaluation, they silently dread any fine or penalty that may be imposed for substandard work performance. The accounting manager of Employee 2 uses the expert power because he recognizes the ability of Employee 2 who is the only certified public accountant in the accounting department of Corporation A. And since Employee 2 is the only person who can prepare the financial statements of the company, he agreed to allow him to work in a compressed work week schedule of four days a week; so long as the expected work output is realized within the given time frame allowed by the organization. Employee 3, on the other hand, has a very positive and charismatic personality that often makes people like him. Employee 3 was made a team leader because he also has the innate ability to influence others with his ideas; they, at first, seemed sceptical to his way of thinking but at the end totally agreed with him. Employee 3 has the knack of referent power, which can inspire others to think like he does, despite the fact that he has been employed within Corporation A for only a short period of time

After reviewing the history of intelligence, what events have had a Essay

After reviewing the history of intelligence, what events have had a profound impact on U.S. intelligence today - Essay Example One of the most essential events that was crucial for gathering evidence was the civil war. The Civil War was one of the most prominent wars that allowed the nation to create a mesh network of intelligence. As a matter of fact, both sides built intelligence services. Historians argue that North actually relied on the South to gain more advantage and that propelled the information to be execute and analyzed. It was clear that Both sides were greatly interested in what today is called open source intelligence (OSINT). As time progressed, the value of OSINT was never understood until TDR took office. It was under his leadership of OSINT as a president. Roosevelt believed ONI could serve as a valuable tool in solidifying that vision of American as strong military force. Roosevelt took this upon his own hands and used OSINT as a network to promote intelligence. It was heavily utilized to track and monitor possible events that could put United States in risk. Even with all the intelligence tools, the USA got its first reality check during WWI when it had to fight Germany. The fact was clear, intelligence was not sufficient to fight the Germans, who were already intercepting incoming receptions. The United States was completely unprepared for the intelligence. Moreover, much opposition from congress deterred the efforts of the government because of the possible witch hunt, that inevitably followed after WWI. The truth of the matter was that the United States understood this dilemma and began conducting surveillance. As a result, they managed to capture Germany submarines and even intercepted the Zimmerman telegram that changed the whole landscape of events. WWI also signaled the event of the creation of FBI, in which Edgar Hoover was named its director in 1924. Once again as USA relapsed from WWI and WWI, intelligence suffered. It was not until the outbreak of the war in Korea against the communist nations that became a

French Revolution Essay Example | Topics and Well Written Essays - 500 words - 1

French Revolution - Essay Example During this period of time western civilization had undergone several changes related to cultural and social developments. Several movements took place in Europe during this period of time. The concept of liberalism emerged in the society during this period of time. Several businessmen and entrepreneurs of manufacturing organizations got huge profit through the introduction of liberalism in the society. It is true that common people were interested in the concept of socialism in society in order to enjoy social rights in the society. Moreover, the working class in this society was mostly recognized as the labor class in this period of time. People of this segment were strongly against the social concept of liberalism as it bought inequality and instability in the society. Therefore, the common people were strongly seeking for the socialistic government in order to gain individual and social rights in the society to enjoy equality and social stability. Slowly and gradually, strong vision towards nationalism started to grow among the common people. Joseph Mazzini formed a nationalist group in the year 1831 in order to meet the developed vision. This group strongly influenced the common people to move forward towards the developed vision (Taylor, 2001). This emergence of the vision of nationalism influenced the people to divide the entire empire in different nations. Conservatism and romanticism are the other important events that took place during this period of time. Vulnerable social and cultural development during this period of time caused the emergence of these two social events. These mentioned events played major role in the social and development of the country. Romanticism majorly featured in emotion, individualism and faith. In addition to this, the social concept of romanticism emerged from rationalism and it had linked politically along with liberalism and nationalism. During this period of time, the European society got diversified into these above

Strategic leadership for organizational improvement Assignment

Strategic leadership for organizational improvement - Assignment Example Lastly, the paper would provide potential barriers and opportunities for a driving force that could help bring change. The Current Situation: The organization that has been selected is Al Marfaq Hospital which is situated in Abu Dhabi. Many officials claim that most parts of the Al Marfaq hospital do not have the same level of medical standards as the rest of the government hospitals (Khalaf). The competence level of Al Marfaq is different from others in that its management and its standard of quality for treatment is not the same. Doctors with quality of the expertise and experience also vary in this hospital which is governed by government officials. However, UAE has been rated as the second most frequently visited country for medical tourism by World Bank. The mortality rate of cardiovascular disease in the whole UAE has risen up to 28% due to the fact that there are not many facilities regarding the cure of the disease. Accordingly, Al Marfaq is also a hospital that is having dif ficulties to lower mortality rate for cardiovascular diseases. The number of doctors that take care of that particular disease is comparatively lower and not highly qualified as other specialist doctors (Oxford Business Group). The doctors that are hired by officials for treating the disease are mostly foreigners that have come a long way from their countries and have become permanent. Due to this fact, other local doctors are de-motivated for not being supported by their own government. Public hospitals have been providing the treatment for free of cost for their UAE residents but this hospital charges are a particular cost for the overseas people without giving them any kind of discounts. These overseas people had to travel a long distance for their treatment but expenses are too high for them to afford. Administration issue has been a debate for a long period of time and has not been rectified (Oxford Business Group). The management lacks a guideline or a code through which a hos pital could be run. It may become harmful for hospital in the long run. The lack of leadership is also a concern for institution as government has failed to design strategies that could help improve their managerial problems (Khalaf). Analyzing the situation: The main issue for this public hospital is the management problem due to which these issues have been erupting. As there are no such guidelines for the recruitment of medical doctors, therefore, the administration is hiring foreigners for the job which creates dissatisfaction amongst the local people. There is no quota system defined that could help the management in making decisions for the recruitment. No proper guideline has also been the major reason for no coordination of public hospitals with each other which is the reason why this hospital does not have any kind of collaboration. This also raises the fact that there is no collaboration and practices of government hospitals vary from one another (Oxford Business Group). E ven though the medical tourism is on its verge in UAE, expenses for the people coming from overseas has risen in recent years which has prevented people from visiting UAE. This is because the government does not provide any support to overseas people but it only cares of its local people. This could create a source of disappointment for these overseas people and would start finding an alternate place for medical tourism if the government did not pay attention to these

Traditional vs modern makes the diffrences Essay

Traditional vs modern makes the diffrences - Essay Example The import of this is that while the traditional forms of advertising were more localized, because of the use of then conventional forms media, the latter become more global in scope and approach, because of the use of the World Wide Web. An example of traditional form of advertisement for Burger King Products is Have It Your Way: Make It a Whopper, dated in 1976. The picture is attached here below, and can be traced back to http://www.grayflannelsuit.net/blog/retrotisements-burger-king-76 An example of modern form of advertisement for Burger King Products is, It Just Tastes Better, It’ll Blow Your Mind Away: BK Super Seven Incher, dated in 2009. The picture is attached here below, and can be traced back to http://www.examiner.com/article/burger-king-oral-sex-ad One can clearly see that there is a world of difference between traditional and modern form of advertising. The difference between the two is underpinned by a radical shift in social values, not just in America, but throughout the entire globe also. The shift in social values involves a departure from conventional and familial values to values that are more liberal. With the embracing of liberal values, there is the use of raunchy culture and individualism as a way of appealing to the market [through advertising]. This is in diametrical opposition to the traditional form of advertising which appealed more to family and social values than parochialism and hedonism. It is noteworthy that the radical shift in values is also evident in the pieces of advertisement that have been availed above. In the first case (Have It Your Way: Make It a Whopper), there is an appeal to more collective values than individual interests. Burger King managed to do this by portraying its products [burgers, beverage and fries] as things to be enjoyed by the entire family. The family is portrayed as joyous when taking Burger King food, in the comfort of its