Examining Issues of Individual Difference at a Workplace - 2750 Words

Psychology and Work: Examining the Issues of Individual Difference at a Workplace (Coursework Sample) Content: PSYCHOLOGY AND WORKDasom KimClassInstitutionCity and StateDatePsychology and Work Workplace psyche initiates productive or counter productive behavior. The psyche develops within the environment and humans are environment creators. Therefore, workers working at one place should have effective interpersonal working relationship to spread productive behavior. Lack of effective interpersonal working relationship means lack of productive behavior at a workplace and boosts the counter productive behavior. So, there are two major factors that play a vital role in the psychology of workers. The first one is ethical business environment, and the second one is interpersonal working relationship between coworkers. Who is responsible? It is the responsibility of each participant who is working therein to maintain the productive environment, as well as interpersonal relationship between each other. But, the managers are responsible for managing these things.Examining the issues o f individual difference at a workplace Sometimes a group of individuals who get together for forming a business concern for the monetary benefits of each other encounter differences. Each time these differences would not be similar. There are several issues of individual differences that have been briefly described further in the research:Lack of interpersonal relationship First and the most influential issue of individual differences at a workplace is a lack of interpersonal relationship. It is first and the utmost duty of an employer to provide good working environment to the employees to get the work force in one unit. Moreover, lack of interpersonal relationship deteriorates the progress and performance. Therefore, from the employers point of view it is mandatory to provide environment to its employees for building interpersonal relationship between them.Bias performance evaluation Employees bias performance evaluation can be a start of ruination of the organization. The studies tell that organizations who apply the system of favoritism and bias performance evaluation are likely to witness a downfall of their businesses. This is because the bias performance evaluation will never scrutinize the best among the betters. So, the system of performance evaluation must be crystal clear to find crystal workers. Attitudes at a workplace The attitudes at a workplace by the workers restrain effective working. It is an employers responsibility to look into the attitudes of their workers as well as managers who are involved in the work progress. Otherwise, the organization will eventually involve itself into rash outcomes. Lack of motivation Motivation is one aspect that encourages workers to do their best for mutual benefit. It is a matter of fact that nothing is done without motivation. Hence, elements of motivation should be promoted by both business participants i.e. an employer and employee to have healthy work environment. Without motivation, it looks like a non-effective effort that will eventually have no results. Lack of organizational processes An organization that keeps strong concerns about their workers must develop efficient organizational processes to reach directly to the problems of their workers. The studies proved that the organizations that are committed to providing better working environments to the workforce get better business progress.My outcomes on the issues of individual difference at a workplace Finally, a few conclusions have been made after examining the issues of individual differences at a workplace. I have found out that those organizations that possess issues with interpersonal relationship, performance evaluation, attitudes to a workplace, motivational encouragement, and have problems with organizational processes as briefed above will influence negatively the overall environment of the organization. Therefore, it is better to promote better interpersonal relationship amongst the employees. At the same ti me, managers must apply ethical reforms to each of the business procedures to have a healthy environment for business prosperous progress. Interpersonal relationship is important Interpersonal relation demands cooperation, coordination, and consideration between two or more personalities working for the same target. The personality differences could evolve on the basis of psychology, culture, religion, demography, and gender. It is really difficult to develop and maintain interpersonal relationship between two individuals with different personalities, as well as different background. However, in most cases individual personality, emotional quantum, and environment influence determine the quality of interpersonal relationship. It has been proved that building interpersonal relationship with dissimilar psychological differences is quite hard but not impossible. Therefore, it is possible to build interpersonal relationship between two since tendencies can be built and a relationship can prosper by showing affinity. Business environment needs mutual ethics Ethical relationship within organizations is a guarantee of the prosperous environment. Employee and employer relationship completely stand for the business relationship. On the one hand, it is an employer that needs services of employees to run his/her business. On the other hand, it is an employee that renders his/her services to get financial rewards for coping with the financial needs. Therefore, both sides are considered to be initiators of the business environment and are actually working for their financial gains. Thus, both sides must follow business ethics regarding each other to create a healthy business environment.Business ethics on the side of employer From an employers point of view, ethics is the most essential component to maintain a healthy business environment. Indeed, managing business activities within set forth budgets is essential. Still employees concerns should be addressed and should be considered. Its an employers duty to provide reasonable environment and controllable tasks to the employees. In other words, an employer should place a mechanism of decentralizing responsibilities to manager them properly. Hereinafter, the matter of multitasking should also be addressed and controlled in all its aspects.Business ethics on the side of employeeFrom the workers perspective, ethical working activities are a mandatory part of their job. Sometimes, employees break the rules and code of conduct and take a decision on their own end. Moreover, sometimes for purely economical reasons, multiple working does not allow employees to concentrate on their first job or any of them. Therefore, multiple working should be discussed. and the prior aspects of workers activity need to be determined. This should not be discouraging. Instead, it should consider all constituents and reasons which are insisted upon by the worker who wishes to engage in multitasking. It is workers responsib ility to discuss its financial constraints with his/her employer and concentrate on one task in order to do it properly and enhance skills and wage rate.Managers responsibilitiesA manager is supposed to be equipped with the basic organizational skills so that his/her work force contributes its share towards the growth a...

Advance Strategy Savola Group - Free Essay Example

Sample details Pages: 9 Words: 2804 Downloads: 10 Date added: 2017/06/26 Category Business Essay Type Research paper Level High school Did you like this example? Advance Strategy: Savola Group Table of Contents Introduction: Mission and Vision: Internal assessment: Current Ratio: Return on assets: Debt to worth ratio: Profitability Ratio: External Assessment: Strategy Formulation: Works Cited . Don’t waste time! Our writers will create an original "Advance Strategy: Savola Group" essay for you Create order Introduction: Savola Group a Saudi Arabia based company. The company was incorporated way back 1979. The company is the manufacturer and seller of edible oil and vegetable ghee. The company has become one of the most successful and fastest growing company in UAE, in the edible oil and food market. The company has presence in Gulf and the Middle East Region, North African and Turkey. The product portfolio includes Edible Oils, Vegetable Ghee, Sugar, and Pasta. Savola Group has its own hypermarkets and super markets in UAE and in many other regions. The revenue and the profit of the company has grown substantially. The profit figure of 2013 was pegged at SAR 2.07 Billion, an increase 21.6% from the 2012 figure. The revenue figure for 2013 stood at SAR 26.6 Billion in comparison to SAR 25.3 Billion of 2012 (Group, 2015). The auditing part is not only to express view and opinions about the financial statement of any entity it also involves the professional ethics, scepticism during the course of the audit. The audit is more related to conduct of audit and expressing the opinion about the manner in which accounts are maintained. The audit report shall also contain the reservations about financial statements. The auditor shall comply with the ethical requirement to the audit of financial; statement. The auditing part will be completed within next 30 days and the complete over view of the company can be prepared and understood from this exercise. The business strategy of the company is to grow in the region and to increase its foot hold in that region. The economics concepts plays important role taking the ultimate decision on business policies. The managerial economics is all about creating the right mix of resources to attain the best possible result for the company. The above definitions establish the correlation between theory of economic and business decision making. The managerial economics is most modern concept in terms of an organisation effectively using the firmà ƒ ¢Ã¢â€š ¬Ã¢â€ž ¢s scare resources. The managerial economics is all about making decision regarding the customer base, competitor and future decision making. The decision making process draws information from regression analysis, correlation and calculus (Stengel, 2011). The applicability of strategic planning and managerial decision making can be found in following areas; Assessment of Fund requirement for investment. Source of fund Selection of business area Choice of product The output has to be determined The price of the product The technology to be used for production Sales promotion The strategic planning of the company includes investment in the growth sector and to increase its product portfolio further. The company has planned investment proposal for the nest few years and the company is also increasing its stake in various subsidiaries around the world. Savola Group is planning to make support industries and maintaining an active investment portfolio. The company has planned to develop complementary brands and production abilities in coming period of 2016 to 2019. Mission and Vision: The mission and the vision statement is the practice of capturing someoneà ¢Ã¢â€š ¬Ã¢â€ž ¢s whish and desire in a paragraph. The company has its mission statement that and that talks about the openness and the transparency in the business and commerce. In terms of our culture of à ¢Ã¢â€š ¬Ã…“The Balanced Wayà ¢Ã¢â€š ¬Ã‚ , we at The Savola group are committed to our Social Responsibility, and we will work relentlessly in achieving world class standards of openness, transparency and accountability towards all our stakeholders, and build bridges to reach out and serve the communities we operate in (Group, Mission , 2015). The vision of the company is to become the top notch food products manufacturing company in Middle East and to hold the largest market share in that region. In UAE Savola is facing competition from local companies like Abudhabi Vegetable Oil Co. LLC. The company is operating in the vegetable oil market. The company is giving stiff competition to Savol a. The vision of the company is to become the clear leader in the premium cooking oil sector in the region (Middle East and Africa). The mission of the company is building legacy our premium brands and modern facilities and to continually manufacture packaged edible oils with the highest of standards and quality. The target of Abudhabi Vegetable Oil Co. LLC. Is to become the premium producer of the edible oil in the market and also to satisfy the need of the customer to the great extent (LLC., 2015) . Savola is concerned about the transparency and openness in the company and the increase in the shareholders wealth but on the other hand Abudhabi Vegetable Oil Co. LLC. wants to become the market leader in the premium edible oil in the Middle East and Africa market. The targets of both the company is not different. Savola is big brand in Middle East and Abudhabi Vegetable Oil Co. LLC wants to establish itself as the biggest brand in the edible oil market. The vision statement of Savola shall be more towards the customer satisfaction and building new product line to meet the need of the customers. Internal assessment: The financial analysis is related to the assessment of the business, projects, performance and profitability of a company or firm. The basic need of financial analysis is to find the financial stability of an organisation. The financial analysis is imperative for understanding of the company and its back ground. It is imperative for the investor to find whether investing in this company is safe or not. The main focus during analysis of a company, it would be towards the Income Statement, Balance Sheet and cash flow statement of the company. The most important way of analysing the financial statement is to calculate various ratios from the figures provided in the annual report of the company (Tracy, 2012). Current Ratio: Liquidity ratio measures the ability of a firm to meet short term and long term obligation. The ratios are very important for the firm to measure the ability to pay the obligations otherwise lower ratios can led to bankruptcy of the firm. The higher ratios are favourable for any firm to meet the short term obligations. The ratio analysis is important for the bankers and the financial institutions measuring the ability to pay short term obligation of the firm to the banks and the financial institutions. The measurement of the liquidity ratio depends on the user of the information. There are generally two main liquidity ratios one is current ratio and another is quick ratio or acid test ratio (Jain, 2006). The current ratio is the current ratio is the calculation of the relation of current assets with current liabilities. The higher the current ratio it becomes much better for the organisation. The higher ratio is indicative of the fact that company or the firm can meet the obliga tion of the firm handsomely. The formula for calculation of the Current Ratio is as following; Current Assets Current Liabilities The current ratio is indicative of the fact that the company has better position I terms of current assets. The current ratio is the measurement of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s ability to pay short term liabilities with short term assets. The higher the ratio, the company is more quipped to pay its obligations. The formula for current ratio is Current assets/ Current Liabilities. The current ratio gives the sense of the operations and operating cycle of the company. Return on assets: The ratio indicates the profitability of the company against the assets of the company. The utilisation of the assets is important to increase the revenue. The efficiency of the management can be better understood, as the ratio will measure the ability of the managers to increase earning (Formulas, 2015). The formula of Return on assets is: Annual Net Income ROA Average total assets Debt to worth ratio: The degree of leverage is calculated by the gearing ratios. The debt equity ratio shows the proper mix of debt and equity in formation of capital. The gearing ratios are difficult to compare as the gearing ratio for different industry varies. Therefore the comparison of the gearing ratio can be done among the same companies in the same industry. It is widely known that higher gearing ratio poses risk to any industry or company, as even in worst turnover figures the company have to still service the debt. The financial statements play their part in calculation and projection of the financial ability and strength of any entity or organisation. The financial statement and balance sheet is prepared on accrual basis. The statement is used to match the income and expenses received and paid in cash of any entity for any given period. The financial statements include any cash transaction. The situation for Samsung is appealable. The balance sheet figures are indicative of the fact that the company is poised to perform better in the future. The formula for calculation of debt to equity ratio is as follows: Total Debt to outsider Equity capital + Reserves SL NO Ratio Analysis 2010 2009 2008 1 Sales Growth Margin 117% 130% 133% 2 OPERATING PROFIT MARGIN 16% 17% 13% OPERATING PROFIT REVENUE 3 NET PROFIT MARGIN 4% 5% 1% NET PROFIT REVENUE 4 Administration and marketing expenses divided by total sales 12% 17% 11% 5 CURRENT RATIO 7/8 8/9 4/5 CURRENT ASSETS CURRENT LIABILITIES 6 Debt to worth ratio 29% 23% 16% TOTAL DEBT TO OUTSIDER EQUITY CAPITAL+ RESERVES 7 ROA 5% 6% 1% Net Income Total assets 8 EPS 3.00 2.76 1.34 Profitability Ratio: The profitability ratios are the indicators of the profit percentage against sales. It is the measurement of the ability to generate earnings of the company. The most of the ratios are indicative of the profitability position of the company. Some of the profitability ratio is profit margins and return on assets and return on equity. The profitability ratio are very important for the firm to show to the investors that the company has n=made profit significantly. Source: https://www.savola.com/SavolaE/International_Presence.php The presence of the company is needed in many other countries including emerging market economies. The emerging market economies can provide them better growth opportunities. The strategies the company is taking is important for the growth but the growth will come from new product and new goods in the market. To increase the demand and to hold the leadership position in the market the company needs to increase its product portfolio. IFE Matrix Internal Factor Evaluation Weight Rating Weighted Score Strength Brand value of the company is huge 0.09 4 0.36 Variety of product 0.05 3 0.15 Marketing strategy 0.07 4 0.28 Personal shopping malls and hyper market 0.08 5 0.4 Business area and the volume of business 0.06 4 0.24 Operation in Middle East and Africa 0.05 3.5 0.175 Strong Revenue 0.06 4 0.24 Strong Profit 0.05 4 0.2 Advertisement and brand value 0.04 3 0.12 Weaknesses No new products 0.08 5 0.4 New competitors in the market 0.06 4 0.24 Price competition has increased 0.08 4 0.32 Political turmoil 0.08 5 0.4 Increased input costs 0.07 4 0.28 Debt position rising 0.08 4 0.32 TOTAL 1.00 4.125 External Assessment: The President of UAE has signed Economic Agreement with GCC in 2002. UAE has also signed agreements to deepen its trade ties with Arab countries. Greater Arab Free Trade Area Agreement and other bilateral free trade agreements within the framework of GCC agreements are also to be signed with Syria, Lebanon, Iraq, Morocco and Jordan (www.abudhabi.ae, 2015). UAE is one of the member country of WTO. Beyond GCC the country has entered into trade agreement with many countries. The country has also signed trade agreement with major economies of the world. The UAE is the federal monarchy. By far Saudi Arabia is the largest Gulf countries with strong economy and the largest exporter of Oil. The UAE is the second largest economy in the Gulf region after Saudi Arabia (dubaifaqs.com, 2015). The country has exposure of the country has in many fields. Information collected from various source would help understanding the external environment and its effect on the business houses like Savola. Th e UAE is the second largest economy in the Gulf region after Saudi Arabia (dubaifaqs.com, 2015). If we go by the infrastructural and economical point of view UAE is way ahead of Saudi Arabia. Saudi Arabia is completely dependent on exporting of oil. The UAE has managed to diversify its income. The 70% of the contribution in GDP of UAE economy is coming from service sector. The UAE economy has made the impossible possible. The country has managed to diversify the economy of the country to the large extent. The infrastructure development is the pre requisite for growth. The infrastructural growth is important for setting up new business and to take the growth to a new trajectory. The GDP figure of UAE is indicating that after 2008 crisis the economy has moved on (Bank, 2015). The GDP growth figure for last five years were 1.6 for 2010, 4.9 for 2011, 4.7 for 2012 and 5.2 for 2013. Dubai has transformed in to world class destination in terms of business and tourist destination. External Factor Evaluation Matrix Weight Rating Weighted Score Opportunities Higher revenue 0.08 4 0.32 Increasing presence 0.05 3 0.15 Aggressive marketing 0.05 4 0.2 New Markets in the GCC countries and Africa 0.06 5 0.3 Largest Operating country in terms of sales in many countries 0.06 4 0.24 Increasing presence in small towns 0.05 4.5 0.225 Increasing product quality and margins 0.06 3.2 0.192 Lower competitor in different markets 0.05 4 0.2 Expecting biggest investment from Middle East 0.04 3 0.12 Africa Potential market 0 0 Threats 0.05 5 0.25 Indian and Chinese companies 0.04 4 0.16 Competitive pricing of the products 0.05 4 0.2 Depleting market share 0.04 5 0.2 Aggressive marketing strategies by competitors 0.06 4 0.24 Aggressive PR my the competitor 0.06 4 0.24 Discounted price by the competitor 0.04 2.5 0.1 No presence in emerging markets 0.03 4.5 0.135 Lower product portfolio 0.05 4 0.2 Increasing debt 0.04 3 0.12 Political turmoil 0.04 6 0.24 Total 1.00 4.032 Strategy Formulation: Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Pint Forces: The manufacturing industry creates value by changing the inputs for the product. This is one of the most important fundamental for a company that establishes the fact that on which the company will stand. In case of manufacturing companies, the emphasis is always will be on the raw materials that will create value of the product. Inbound Logistics: This is all about the process of receiving, storing and distribution of inputs internally. The buyer and supplier relationship is important for cre3ating value chain for manufacturing industries. Operations: The manufacturing process is used to transform the raw material to the finished goods. The process of transforming the product is part of operation process. Outbound Logistics: The outbound logistics is all about the delivery of the products to the end customers. The customers get the product from the market. Marketing and Sales: The process includes persuading customer s. The persuasion is the challenging job for the market department. SWOT: Strengths Weaknesses 1. Good market share 1. The quality of the products 2. Growing Sales and Market share 2. No Vertical Integration 3. Creation of New Value Chain 3. Depending on the food Product 4. Presence in Emerging markets Opportunities Threats 1. New Marketing Strategy 1. Competition 2. Growth in Smartphone Market 2. Strong Position of the Competitors 3. Investment in New RD Division 4. New Market in Middle East and Africa BCG Model: The classification depends on market growth, market share compared to large competitors. The classifications indicated the increase in market share increase the cash generation. There is second assumption according to this matrix that the growth depends on the investment and the investment is related to consumption of cash. The company is expecting that the market for food business will grow to SR35 billion. The company is riding on normal growth rate. The situation of the company cannot be compared with Cash cows. SPACE: References: Bank, T. W. (2015, 04 28). GDP growth (annual %). Retrieved from https://data.worldbank.org/: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG dubaifaqs.com. (2015, 05 13). List of GCC countries and nations. Retrieved from https://www.dubaifaqs.com/: https://www.dubaifaqs.com/list-of-gcc-countries.php Formulas, F. (2015, 04 22). Finance Formulas. Retrieved from Finance Formulas: https://www.financeformulas.net/Days-in-Inventory.html Group, S. (2015, 05 26). About the Savola Group. Retrieved from https://www.savola.com/: https://www.savola.com/SavolaE/About_The_Savola_Group.php Group, S. (2015, 05 26). Mission . Retrieved from https://www.savola.com/: https://www.savola.com/SavolaE/Mission.php Jain, K. . (2006). Management Accounting; https://books.google.co.in/books?id=Es37CPpEItwCpg=SA6-PA2dq=ratio+analysishl=ensa=Xei=lTDCVPHPGczj8AXtwoDwCgved=0CDYQ6AEwAjgK#v=onepageq=ratio analysisf=false. New Delhi: Tata McGraw-Hill Education. LLC., A. V. (2015, 05 26). V ision Mission. Retrieved from https://www.advocuae.com: https://www.advocuae.com/aboutus/vision-mission/ Stengel, D. N. (2011). Managerial Economics: Concepts and Principles;https://books.google.co.in/books?id=ot7FFc2JUBYCdq=managerial+economicssource=gbs_navlinks_s. New york: Business Expert Press. Tracy, A. (2012). Ratio Analysis Fundamentals: How 17 Financial Ratios Can Allow You to Analyse Any Business on the Planet; https://books.google.co.in/books?id=GadRYnALi-oCprintsec=frontcoverdq=ratio+analysishl=ensa=Xei=3y_CVORkjOjwBYLjgMgDved=0CDUQ6AEwAg#v=onepage . London: RatioAnalysis.net. www.abudhabi.ae. (2015, 05 26). Free Trade Agreements of the UAE. Retrieved from www.abudhabi.ae: https://www.abudhabi.ae/portal/public/en/business/international_trade/import_and_export/gen_info92?docName=ADEGP_DF_162968_EN_adf.ctrl-state=90sx1yk4x_4_afrLoop=1471836418238393

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Professed painter of the Reformation, Lucas Cranach the Elder created many pieces of artwork during his career, but his work that sprouted from the end of the Renaissance and beginning of the Reformation was truly inspiring (Johnson). Judith with the Head of Holofernes, an inspiring oil on panel by Cranach, impacted society in multiple ways that would remain influential even after his death. Cranachs work played a critical role in the beginning of the Reformation and pleased the royal court in Germany during the mid 1500s, which allowed him to rise as an artist and support dangerous organizations in his spare time. This enthralling artists specific piece was the beginning of a religious motif that would appear in his later works and†¦show more content†¦Because of the corruption in the Catholic Church and the Saxon Courts support for such a violent and misleading community, Cranachs choice to paint the biblical story of Judith with a spin that highlights seduction, showin g more skin in her appearance than other works and even highlighting it with multiple necklaces and aristocrat clothing that may have been worn in the court, the painting almost displays Cranachs form of political resistance (Zucker and Harris). The story behind this painting is a Biblical tale about a strong heroine named Judith, who was known for her bravery and resistance against the Assyrian troops that come to assume control over her people. In this story, Judith uses her wit and seduction to ease her way into the Assyrian troops camp and continue with a genius plan to execute the Assyrian General, Holofernes. She seduces him, and once he is drunk, beheads him in his own tent, with his own soldiers all around him oblivious (Branch). Judith was able to defeat the enemy and resist what could have been the end of many Israelites lives. Cranachs choice suggested a political resistance that required a bravery similar to that of Judiths. Small details in the painting such as the bodice of the dress and Judiths jewelry show Cranachs love for a decorative surface, as well as theShow MoreRelatedEssay on Art Throughout History2129 Words   |  9 Pagesand biography) were both inaccessible and unreadable by the overwhelming majority of humanity during this Humanist period in terms of the history of art even after the invention of the printing press (outside of what is now China) by the German polymath Johannes Gutenberg in the 1440`s. Indeed it must also be conjectured as to the distribution of works which are now considered essential in the esoteric world of the art historian: †¢ Ghiberti`s I Commetarii (1455); †¢ Antonio Manetti`s biography of Filippo

Stability Palgrave Dictionary Of Economics â€Myasignmenthelp.Com

Question: Discuss About The Stability Palgrave Dictionary Of Economics? Answer: Introduction: The term equilibrium, in economic context, is defined to be the condition where the demand and the supply forces interact with each other and reach to a mutually agreed balanced situation, from where neither the demand forces nor the supply forces have any incentive to deviate from, provided there is no external influence from any exogenous conditions. The demand and the supply forces are the backbone of the market dynamics and all the activities in the market are subjected to the mutual interactions of these two forces (Ekelund Jr Hbert, 2013). The equilibrium, as defined above, is said to be a stable equilibrium, if in case of any deviation from the equilibrium condition due to influence of exogenous forces, the economy again comes back to its original equilibrium situation in due course of time. The report takes into account this concept of stability of equilibrium, both in terms of microeconomic and macroeconomic perspectives. In this context, the report tries to analyze the cur rent stability scenario in the economy of Australia, with respect to economic indicators like GDP, price levels and others (Baumol Blinder, 2015). Stability of equilibrium: In the market economy, the consumer and the producer behaviors are determined by the demand and the supply side dynamics respectively. The dynamics in the market can be shown as follows: Figure 1: Microeconomic Stability in equilibrium (Source: As created by the author) The above figure shows the dynamics of the demand and the supply curve. As can be seen from the diagram, the equilibrium occurs at the point where the supply curve and the supply curve touches each other; point E in this case. The equilibrium price is at point P0 and the equilibrium quantity demanded and the equilibrium quantity supplied both being Q0. The stability of the equilibrium, can be seen with the help of the following phenomenon (Fisher, 2016). In the above diagram, when due to some reasons, the price increases from the equilibrium price P0 to P1, then the demand for the commodity decreases significantly. This fall in demand may be a cumulative effect of two events. Due to an increase in the level of price, firstly, the existing buyers of the same commodity buy less than the previous amount. Secondly, the marginal buyers, in the initial condition, now completely moves out of the market as the commodity now becomes unaffordable to them (Boland, 2014). Together these two effects decrease the overall demand in the market. However, due to an increase in the price, the market becomes more attractive to the sellers, more and more sellers try to enter the market, and the existing sellers increase their production, thereby increasing the supply in the market. Together this leads to an excess supply in the economy, which in its turn creates a downward pressure on the price levels as the sellers are required to lower their price leve ls. Thus, the price level comes back to its initial equilibrium point P0 (MacDonald Stein, 2012). Again, if the reverse scenario takes place and the price decrease from the equilibrium level P0 to P2, then the supply decreases, as due to loss of profitability in the market, many sellers move out of the market. On the other hand, the decrease in the price increases the demand for the same commodity, by the law of demand. This in turn creates an excess demand in the market, leading to an upward pressure on the price levels such that the price again comes back to its equilibrium level P0. Thus, it can be seen that no matter however the price level changes from the equilibrium situation, the demand and the supply forces interact with each other to bring it back to its initial equilibrium situation, thereby indicating that the concerned equilibrium is a stable one (Henderson, 2014). The above scenario is based on the microeconomic perspective as it deals with the dynamic stability of the equilibrium in one particular market. The same concept, however, is applicable in the macroeconomic perspective too: Figure 2: Macroeconomic stability in equilibrium (Source: As created by the author) In the macroeconomic perspective, the equilibrium is determined on the basis of the aggregate demand and the aggregate supply in the economy as a whole and in case of any deviations from the equilibrium situation, these two forces mutually interact with each other to bring the economy back to its original equilibrium situation (Rader, 2014). Stability Scenario in the economy of Australia: The Australian economy has been one of the significantly dominating players in the global economic scenario and is considered to be one of the most successful ones too. The economy type of this country is mainly market based and capitalistic in nature. The government and the centralized planning does not play much role in economic decisions and activities in this market economy and the government mainly plays the role of a supervisor and not that of a controller. Much of the market decisions are dependent on the activities of the demand side and the supply side players in the economy. The objective of this economy is to maximize the profit of the providers and also to increase the satisfaction of the consumers, thereby increasing the overall welfare of the society as a whole. The economic stability of any country can be portrayed by the GDP and the GDP dynamics of the country. The Gross Domestic Product of a country is the value of the sum of all the goods and services that are produced within the geographical boundary of the country within a particular period, generally one economic year. The growth rate of GDP and the growth pattern tells a lot about the welfare and the economic stability of the country. Figure 3: Australia GDP over the years (2006-2016) (Source: Tradingeconomics.com, 2017) The above diagram shows that the growth in the Gross Domestic Product of the economy of Australia, has been stable in the last few years. As the trend shows, there exists a non-dramatic upward pattern in the growth rate of the economy. The GDP of the country has increased from USD 853.76 billion in 2006 to USD 1567.18 billion by 2013. However, the growth reduced a little and came down to 1204.62 USD billion by the end of the year 2016. However, both the increase and decrease do not show any dramatic fluctuations (Dyster Meredith, 2012). Figure 4: Rate of Inflation in Australian Economy (Source: Tradingeconomics.com, 2017) The overall level of price and the fluctuations in the inflation rate in the country has also been more or less stable, with the fluctuations being moderate and the economy maintaining a more or less stable situation in this aspect. This implies that the overall economy is in a steady state equilibrium, where even if some irregularities occur, they are not of drastic nature and are taken care of eventually. This in turn implies that the overall standard of living and the consumer price index of the country maintains a more or less stable pattern. Stabilizing framework in the economy: The economy of Australia has an inherent stability mechanism, which consists of primarily two types of stabilizers: a) Structural or Discretionary Stabilizer: These type of stabilizers are used in case of economic fluctuations of bigger magnitudes like recessions or depression. These include changes in the budget of the government as a whole, by changing the existing taxes, modifying them and introducing new budgetary mechanisms (Manalo, Perera Rees, 2014). b) Automatic Stabilizer: This kind of stabilizing instruments operates in a counter cyclical mechanism, which does not directly change the budgetary structures but indirectly affects the budget and the aggregate demand of the economy. These instruments include GST and CGT and the company taxes. These measures are in general used by the governing authority of the country in case of small and manageable fluctuations. The effectiveness of this policy framework can be seen from the countrys past experience in dealing with the Great Recession of 2007-2008. This phenomenon, which originated in the USA and affected more or less all the economies of the world, comparatively left the economy of Australia relatively unaffected. The inherent stabilizing system of the economy helped immensely in getting out of this huge global adverse economic phenomenon without increasing the burden of suffering of the residents by that amount (Bagliano Morana, 2012). The stabilizing framework included the robust banking sector of the economy, which worked efficiently in keeping the interest rates and the lending potentials floating. Other factors contributing in ensuring stability includes the strong and beneficial trade relations of the country with the other economic giants like China and Japan, other than the USA, which again indicates that the country has also gained stability in the external sector. Conclusion: The above discussion elaborates the concept of equilibrium and stability in the equilibrium. In this context, it can be seen from the above discussion that the economy of Australia has maintained a more or less stable pattern with respect to the different economic indicators. Much of this stability can be attributed to the robust stabilizing policy mechanisms which the country enjoys and which has proved to be efficient till now in bringing back the economy to stability in case of any fluctuations. References Australia GDP | 1960-2017 | Data | Chart | Calendar | Forecast | News. (2017).Tradingeconomics.com. Retrieved 22 September 2017, from https://tradingeconomics.com/australia/gdp Bagliano, F. C., Morana, C. (2012). The Great Recession: US dynamics and spillovers to the world economy.Journal of Banking Finance,36(1), 1-13. Baumol, W. J., Blinder, A. S. (2015).Microeconomics: Principles and policy. Cengage Learning. Boland, L. A. (2014).Methodology for a New Microeconomics (Routledge Revivals): The Critical Foundations. Routledge. Dyster, B., Meredith, D. (2012).Australia in the global economy: Continuity and change. Cambridge University Press. Ekelund Jr, R. B., Hbert, R. F. (2013).A history of economic theory and method. Waveland Press. Fisher, F. M. (2016). Adjustment processes and stability.The new palgrave dictionary of economics, 1-6. Henderson, J. V. (2014).Economic theory and the cities. Academic Press. MacDonald, R., Stein, J. L. (Eds.). (2012).Equilibrium exchange rates(Vol. 69). Springer Science Business Media. Manalo, J., Perera, D., Rees, D. (2014). Abstract for RDP2014-11: Exchange Rate Movements and the Australian Economy. Rader, T. (2014).Theory of microeconomics. Academic Press. Tradingeconomics.com. (2017).Australia Inflation Rate | 1951-2017 | Data | Chart | Calendar | Forecast.Tradingeconomics.com. Retrieved 21 September 2017, from https://tradingeconomics.com/australia/inflation-cpi

Accounting Financial Analysis Report for Income Statement

Question: Discuss about theAccounting Financial Analysis Report for Income Statement. Answer: Introduction: Accounting financial analysis is a procedure of business which is done by the professionals to identify and evaluate the performance and the position of the company. It briefs about the financial performance of the company and this process suggests the management of the company to make few changes into its financial strategies or the performance to enhance the position of the company (Higgins, 2012). Accounting financial analysis is a common process which is done by the all the companies and financial analyst to evaluate the performance of the company and make a better decision on the basis of that. In the given case, crystal hotel private limiteds financial accounts have been evaluated. This company is operating its business in Sydney. The capacity and the revenue of the hotel have been evaluated and further the financial performance of the company has been identified which would assist the company to compare the performance with industry and make changes accordingly. Income statement comparative analysis: Income statement is one of the crucial final financial statements of an organization. It briefs about the total turnover, operating and non operating expenses, net profit, gross profit etc of the company. Income statement of crystal hotel private limited has been analyzed and it has been compared with the industry data to analyze the performance of the company (Titman and Martin, 2014). The income statement of the company briefs that the financial performance and the position of the company is quite competitive in the industry. The appendix table 1 briefs that the company should work on its total capacity. At this level, the company would be able to earn more profits. Further, it briefs that the current income statement of the company briefs about better position of the company. According to the case, the rooms revenue of the company should be 51% which is quite higher than the industry benchmark. Further, the FB revenue, halls revenue and other revenue of industry is 39%, 3% and 7% whereas the company revenue is 14.46%, 14.86% and 8.83%. It briefs that the level of rooms revenue and the functions are quite higher and it is required for the company to focus on food and beverages. In addition, cost of sales of the company has been evaluated and compared with the industry benchmark. On the basis of analysis, it has been found that the total cost of sales % of industry is 19% in 2015 which is quite lesser than the companys cost of sales. The companys cost of sales is 27.59% which briefs that the gross profit level of the comapny is lower and it is required for the company to manage the production cost (Madhura, 2011). Further, the personal cost, unallocated operating cost and total cost of the company has been evaluated. The total personnel cost of industry is 33% and the companys cost is 25.38% which briefs about better position of the company. In addition, unallocated operating cost of the company is 18.31% which is 15% in industry benchmark. It explains that the expenses of the company are quite higher (Appendix 2). The total cost and the net profit level of the industry is 68% and 32% respectively whereas the net income level of the company is 19.53% (Brown, 2012). It briefs that the financial position of the company is not that much strong and it is important for the management of the company to enhance the level of the revenues in comparison of expenses so that the net profit level could be enhanced. Ratio analysis: Ratio analysis is a financial analysis process which is conducted by the managers of the company and the financial analysts to evaluate the performance and the position of the company (Brooks, 2015). It briefs about the different positions of the company. Ratio analysis study of Crystal hotel briefs about the profitability level, solvency level, liquidity level and efficiency level of the company. Profitability ratio: Profitability ratio of the company briefs the gross profit level, net profit level, return on assets and return on equity level of the company. Gross profit margin of the company is 72.41% which is lower from 81% (industry benchmark ratio). Further, the level of net profit margin is quite higher and on the other hand, the return on assets and return on equity ratio of the company is also higher than the industry benchmark ratio (Gibson, 2011). It explains that the financial profitability position of the company is quite better and thus the company should maintain the same level. Solvency level: Solvency ratio of the company briefs the equity and debt position of the company to manage its capital structure and the cost and risk of the company. Debt to equity, debt ratio, equity ratio and interest coverage ratio has been evaluated. All these ratios brief the debt level of the company is quite lower from equity level and thus the cost of the company is quite lesser but on the other hand, risk level of the company is quite higher. It explains that the financial solvency position of the company is not good and it is suggested to the company to manage the optimal capital structure. Liquidity level: Liquidity ratio of the company briefs the position of the company to pay its short term current debt through current assets of the company. Current ratio and quick ratio of the company has been evaluated. Current ratio of the company is 1.86 which is lower from 3.2 (industry benchmark ratio). Further, the level of quick ratio is also lower than the industry ratio. It explains that the financial liquidity position of the company is not good and it is suggested to the company to enhance the level of current assets so that better liquidity position could be maintained (Brigham and Houston, 2012). Efficiency level: Efficiency ratio of the company briefs the position of the company to manage its long term debt as well as the working capital management. Inventory turnover ratio and accounts receivable turnover ratio of the company has been evaluated. Inventory turnover ratio of the company is 0.15 which is lower from 8.6 (industry benchmark ratio). Further, the level of accounts receivable collection period is quite higher than the industry ratio. It explains that the efficiency position of the company is not according to the industry so it is suggested to the company to manage the efficiency level. Industry specific benchmark: Further, the industrys performance has been compared with the companys performance on the basis of various other benchmarks such as the total price of the rooms, employees turnover and credit policies of the company. The total price of the rooms has been evaluated firstly and it has been found that the average price per room of the company is $ 148 whereas the industry is charging different rates on the basis of hotel ratings and other facilities. The total profitability position of the company on the basis of total price per room is quite different to the industry ratio. It briefs the company is managing the cost and revenue at different level (Brigham and Ehrhardt, 2013). Further, the employee turnover of the company has been evaluated and it has been recognized that the performance of the company is quite lower in terms of motivating and retaining the customers. The industrys employee turnover level is quite lower than the company and thus it becomes important for the company to look over the issue and resolve it at serious level (Brigham and Daves, 2012). In addition, the credit policy of the company has also been evaluated and t has been found that various issues are faced by the company due to its credit policies which are required to be changed. So, the performance and the position of the company could be better. These changes would assist the company to manage the better position in the industry as well as it would also assist the company to reduce the level of expenses and enhance the level of the cash inflows of the company. These changes would make the company more competitive. Conclusion: To conclude, crystal hotel private limiteds financial accounts are quite different to the final financial accounts of the industry. This company is using the different strategies to maintain the financial performance and the position. The capacity and the revenue of the hotel have been evaluated and further the financial performance of the company has been identified and it has been found that the financial performance of the company is required to be better in terms of solvency position and the liquidity position. Further, the company is also required to reduce the level of the undistributed operating cost and the personnel cost. References: Brigham, E. and Daves, P., 2012.Intermediate financial management. Nelson Education. Brigham, E.F. and Ehrhardt, M.C., 2013.Financial management: Theory practice. Cengage Learning. Brigham, E.F. and Houston, J.F., 2012.Fundamentals of financial management. Cengage Learning. Brooks, R., 2015.Financial management: core concepts. Pearson. Brown, R., 2012. Analysis of investments management of portfolios. Pearson Higher Ed. Gibson, C.H., 2011.Financial reporting and analysis. South-Western Cengage Learning. Higgins, R.C., 2012.Analysis for financial management. McGraw-Hill/Irwin. Madura, J., 2011.International financial management. Cengage Learning. Titman, S. and Martin, J.D., 2014.Valuation. Pearson Higher Ed.