Enterprenuer Notes - 6114 Words

Entrepreneurship: Successfully Launching New Ventures, 4e (Barringer/Ireland) Chapter 1 Introduction to Entrepreneurship 1) GiftZip, the company profiled in the opening feature for Chapter 1, makes money via: A) payments from companies that offer gift cards for displaying their cards on the site B) the direct sale of gift cards displayed on its site C) monthly subscription fees D) online advertising E) earning an affiliate fee for gift card purchases that originate from its site Answer: E Diff: 2 Page Ref: 3 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 2) Which of the following was not a contributing factor to GiftZips early†¦show more content†¦According to the textbook, Netflix practices: A) tactical entrepreneurship B) corporate entrepreneurship C) strategic entrepreneurship D) business entrepreneurship E) enterprise entrepreneurship Answer: B Diff: 2 Page Ref: 6 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 9) The three primary reasons that people become entrepreneurs and start their own firms are to: A) gain prestige, realize financial rewards, and eliminate risk in their lives B) do what they were born to do, be their own boss, and gain prestige C) take big risks, be their own boss, and do what they were born to do D) be their own boss, pursue their own ideas, and realize financial rewards E) take advantage of government subsidies, pursue their own ideas, and realize financial rewards Answer: D Diff: 2 Page Ref: 7 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 10) According to the textbook, the number one reason that people become entrepreneurs is to: A) realize financial rewards B) gain prestige C) be their own boss D) continue a family tradition E) pursue their own ideas Answer: C Diff: 1 Page Ref: 7 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role ofShow MoreRelatedRole of Commercial Banks in Poverty Aleviation in Tanzania6314 Words   |  26 PagesDue to the declining level of the public sector, the role of commercial banks in promoting economic growth and development, offering increased employment and reducing income disparities has been widely recognised. In Tanzania, micro and Small Enterprenuers contribute 12% and 34% of rural and urban employment respectively as well as up to 32% of the Gross Domestic Product (GDP). Recognising the importance of financial services to small enterpreneurs, during the year 2000 the government of TanzaniaRead MoreCredit Appraisal20118 Words   |  81 Pagesof  inventory and reasonable thereof, ability to absorb the cost of  carrying such inventory and comparison of the other similar  units in the industry shall be relied upon to decide the required and acceptable level for being supported by the bank Note: * Bills negotiated under L/C’s: As working capital requirements for the same are assessed separately, receivables under L/C need not be included in the current assets. Similarly, bank borrowings under bills purchased/negotiated

Honor in Much Ado About Nothing Essay - 656 Words

Throughout the history of the world, honor has been an important part of life. In literature, as well, honor plays an important role in many plots and the development of almost any character. Shakespeare’s play Much Ado About Nothing is no exception. In this comedy about love and marriage, honor is revealed as the primary reason for many of the actions taken by several different characters. When Claudio breaks off his wedding with Hero, he does it because he believes she is not chastised as she claims to be and in being such, she would dishonor him as well as her father if the marriage were to proceed as planned. The play is an accurate depiction of the honor code and the different standards for men and women of the time in regards to†¦show more content†¦Her honor is disgraced for her â€Å"actions† and Claudio will no longer accept her as his wife because of the dishonor she has caused him. Shakespeare uses both Claudio and Leonato to represent the males of the time and the honor code they were held to. Claudio is in no way held to the same pre-marital expectations as Hero, which, at the time, was the case for all men. For instance, when Hero is accused of being with a man prior to her marriage, no one questions what man and, quite frankly, no one cares what man. Shakespeare also shows how men are judged and given honor based on how their women act. When Leonato learns of the accusations his daughter receives on her wedding day he scolds her and says, â€Å"Wherefore? Why doth not every living thing Cry shame upon he? Could she here deny The story that is printed in her blood? Do not live, Hero; do not open thine eyes†¦ Why had I not with charitable hand Took up a beggar’s issue at my gates, Who smirched thus and mired with infamy, I might have said, ‘no part of it is mine; This shame derives itself from unknown lions’†? (IV, i) This quote shows how a father at that time would wish to have no part of his daughter for committing such acts because he knows of the dishonorable reputation he will receive as a result. In the time of Shakespeare, men and women were held to different standards and honored and dishonored for different reasons. Chastity is one of those reasons. For aShow MoreRelatedHonor and Sprezzatura in Much Ado about Nothing1310 Words   |  5 PagesHonor and Sprezzatura in Much Ado about Nothing Honor is an entity that is synonymous with dignity, respect, and admiration. Life itself can be seen as a great pursuit of honor. However, although human kind is enjoined in this pursuit, there exists considerable variability among perceptions of how it is protected and gained. Shakespeare explores these perceptions as he brings our attention to the idealistic and exuberant world of the courtier. Being at the apex of the social pyramid, courtiers abideRead MoreWilliam Shakespeare s Much Ado About Nothing1225 Words   |  5 PagesWilliam Shakespeare’s Much Ado About Nothing, a comedy filled with differences between genders, witty banter between memorable characters Benedick and Beatrice, a plot of revenge that involves one character faking her death and let’s not forget the masquerade marriage that comes to readers at the end. Much Ado About Nothing, court politics while still maintain a profound amount of humor and wit. However, it is the honor and shame that is promi nent in Much Ado About Nothing that we reach the turningRead MoreKenneth Branaghs Much Ado About Nothing Essay1588 Words   |  7 PagesThe scene opens in the beautiful hills of Tuscany, Italy. Lying about on the slopes of grass are the humble townsfolk basking in the sunshine as a soft voice introduces; â€Å"Sigh no more ladies, sigh no more.† This dreamlike setting is the opening scene of the major motion picture Much Ado About Nothing as envisioned by film director Kenneth Branagh. A far cry from its Shakespearean origins, Branagh’s Much Ado has a look and feel all of its own. This film seeks to capture its audience with visual majestyRead MoreWilliam Shakespeare s Much Ado About Nothing1285 Words   |  6 PagesMuch Ado About Nothing, is a comedic play by William Shakespeare thought to have been written in 1598 and 1599, as Shakespeare was approaching the middle of his career. (Wikipedia) This timeless play is generally considered one of Shakespeare’s be st comedies, because it combines a cheerful mood with an intricate series of deceptions and miscommunications. It’s known for its hilarity, honor, shame and court politics. Shakespeare depicts different kinds of loving relationships- romantic love, familyRead MoreEssay on Inconstancy in Shakespeares Much Ado About Nothing 1099 Words   |  5 PagesInconstancy in Shakespeare’s Much Ado About Nothing The Oxford English Dictionary (OED) explains inconstancy as the recurrent and generally unexpected or impulsive change from one condition to another. It is the state or quality of being inconstant and unfaithful by virtue of being undependable or deceitful. Set in Messina, Sicily, Shakespeare’s Much Ado About Nothing is a very popular play generally viewed as one of his happiest comedies and is often performed in theatres. However, the playfulnessRead MoreMuch Ado About Nothing Act 4 Scene 11299 Words   |  6 Pages‘Much Ado About Nothing’ by William Shakespeare: What does Leonato and Claudio’s treatment of Hero in Act 4 Scene 1 reveal about each character’s relationship with her and their attitudes to women? ‘Much Ado About Nothing’ is a romantic comedy set in the Elizabethan era. It shows the roles of men and women in a patriarchal society and how each are looked upon. The themes of this play are cuckold, where a married mans wife has sex with other men; the wife is adulterous. This play showsRead MoreWilliam Shakespeare s Much Ado About Nothing Essay1971 Words   |  8 PagesTransition in Much Ado About Nothing William Shakespeare’s Much Ado About Nothing, a comedy filled with differences between genders, witty banter between memorable characters Benedick and Beatrice, a plot of revenge that involves one character faking her death and let’s not forget the masquerade marriage that comes to readers at the end. Much Ado About Nothing, court politics while still maintain a profound amount of humor and wit. However, it is the honor and shame that is prominent in Much Ado About NothingRead More Much Ado About Nothing - A Feminist Perspective of Hero Essay919 Words   |  4 PagesA Feminist Perspective of Hero in Much Ado About Nothing  Ã‚     Ã‚   Unlike the title of this piece suggests, Hero did not undergo her transformation in Much Ado About Nothing through magic.   Rather, Hero was a victim of the double standards and illogical fears that the men of Shakespeare’s plays commonly held.   The following quote sums it up quite well:   In the plays female sexuality is not expressed variously through courtship, pregnancy, childbearing, and remarriage, as it is in the periodRead MoreWilliam Shakespeare s Much Ado About Nothing3289 Words   |  14 Pagesat heart and ethereal to the rigid and formal. The title, Much Ado About Nothing, is one such title that fits very neatly into his light at heart category. However this doesn t mean that the title doesn t reflect the story as in Shakespeare s other plays. His light at heart stories have titles that are just as reflective as his more serious titles. The title is an obvious indicator of the story that is told within. A story full of nothing doesn’t sound very entertaining though, so how would ShakespeareRead MoreMuch Ado About Nothing By William Shakespeare843 Words   |  4 Pages In the play Much Ado About Nothing, the theme of scandalous accusations, dishonesty, and its effects take a major role throughout the entirety of the play. However, the effects o n a person’s honor vary hugely depending on the sex of the person. For a male, a jab at his honor is an insult, and most likely will result in an all out defense of his integrity in an effort to regain it. A woman, however, suffers far greater consequences. Her honor is based increasingly on her innocence (celibacy)

Zara case free essay sample

Inditex, founded by Amancio Ortega, operates six different chains: Zara, Massimo Dutti, PullBear, Bershka, Stradivarius, and Oysho. Zara is a leading apparel chain with major dominance in Spain. Zara being responsible for around 80% of Inditex’s gross profits is critical for Inditex’s growth. Currently, Zara is facing a convoluted problem of growth expansion both within and outside Spain. Within Spain, growth options for Zara seem limited owing to the already saturated market. Zara however has placed its foot in the Italian market (which it finds particularly lucrative owing to the fashion-forward Italian market) through a joint venture with Percassi and plans to add around 70 stores in the next decade. Other options for entry could be USA, Asia and other parts of Europe. The analyses focus on Zara’s business model and competitive advantages and depicts how it impact’s Zara’s growth. Vertical integration, delayed production, just-in-time manufacturing, and proactive design teams are some of the key features in Zara’s business model which makes Zara a competitive brand. With such peculiarities in its business model Zara has been able to maintain low failure rates as well as manage high operating efficiencies as compared to some of its competitors in Spain. Harnessing the Quick Response (QR) technique quite remarkably, Zara has drastically reduced its cycle times with minimal bullwhip effects. As a global apparel firm, Inditex’s main development strategy for international expansion is to become the sole or majority shareholder. However, for small or culturally different markets, it extended franchising agreements to leading local retail companies. For countries with large barriers to entry and an appealing customer base, Inditex created joint ventures with the possibility of later buying out its partner. Despite the different approaches used to enter into the international market, Zara has shown that there is no impediment to sharing a single fashion culture. It can be concluded that, with such valuable set of resources and capabilities which Zara possesses, it makes sense to grow into markets in which Zara can exploit its capabilities to the fullest. The move into the Italian market fits perfectly into Zara’s paradigm of effective Quick Response and is a laudable one. Also, entry into United States of America should rather be avoided at this stage as the American market is relatively backward as compared to fashion and Zara won’t be able to do justice to its capabilities as they could be rendered useless. Thus in order to undergo a sustainable growth, Zara should focus on partnering in geographies where its capabilities are complemented. Introduction In general, fashion apparel has highly volatile demand with high margins for the ‘in demand’ fashion products and heavy markdowns for ‘out of demand’ (outdated) products. Life cycles are short and unpredictable. It is a very tough job to predict what will be in trend and its demand. On the scale of functional-innovation products, fashion apparel is clearly on innovation end of spectrum. For an innovative product like fashion clothing, it is very important to provide the correct product variety not in terms of the number of options but more so in terms of the correct fashion. The efficiency considerations of the physical function are secondary to the above. Suppliers need to be chosen for their speed and flexibility and not just costs. It is important to decide where to position inventory in the supply chain to hedge against changing tastes and obsolescence. Reaction time to changes in demand pattern has to be swift. The correct response to an innovative product is therefore a responsive supply chain. The fashion apparel however also has the added dimension of being highly labour Demand Uncertainty Low High intensive especially when it comes to stitching. As per Lee’s Supply Low Zara framework, the demand is uncertain but supply is largely Uncertainty High certain and there is little variation to be expected in the supply of commodities like zippers, undyed cloth and buttons. Zara’s business model Zara’s business model is unique. In this analysis we tried to bring together the different features that actually make their business model unique. Distinctive Features of Zara’s business model 1. Just-in-time manufacturing system: Zara invested heavily in manufacturing logistics and IT and focused on development of internal manufacturing system for its fashion-sensitive products (40%). It also went for vertical integration of its production which helped it to supply new designs in about 4-5 weeks and restocking within 2 weeks. This was much better than industry standard of 6 months for design and 3 months for manufacturing. (Pg 9) 2. Delayed production: Since it has very less cycle time, Zara is able to delay much of its design, purchase and production decisions till the season has started as compared to traditional retailers. This way it is able to adjust to the latest trends of the season and come out with better suited products (Pg 9 and Exhibit 13 More about this in ‘vertical integration’ section) 3. Selling, General and Administrative Expenses: Zara’s SGA costs amount to only 20% of revenues whereas others maintain relatively higher costs. The only competitor to have cycle times close to Zara, i. e. , World Co. , has 40% of revenues allocated to these costs. 4. Design: Designers, product development personnel and store managers work in great coordination with each other. The Zara’s design teams continuously track customer preferences and use this information about sales potential based on a consumption information system to transmit repeat orders and new designs to internal and external suppliers. The design teams are bridged merchandising and the back end of the production process. Out of all designs, only those designs went into production for which consumer responses were positive. This way failure rates for the products was as low as 1% as compared to industry standard of 10%. (Pg 10) 5. Distribution: Zara followed its own centralized distribution system with main 400,000 m2 facility in Artexico and smaller satellite centres in Argentina, Brazil and Mexico. Zara has also started to schedule shipments by time zone. Due to one single location of centralized distribution facility, Zara faced diseconomies of scale. Hence it opened another facility near Madrid with well connected air, rail and road networks. (Pg 11-12) 6. Merchandising and media advertising: Zara with its high turnaround created a feel of freshness and scarcity in the stock material. This lures customers to buy at the earliest possible. This also results in low marked down inventory (for Zara it was around 15-20% as compared to European average of 3040%). Also much of the focus was given on the ambience of the stores. Stores were chosen in prime locations and were refurbished every 3-4 years to give new and fresh look. Zara also spent just 0. 3% of its revenues on media advertising as compared to 3-4% by others. This was done so as to create an atmosphere of exclusivity in the market and to avoid overexposure. (Pg 13-14) 7. Pricing: Prices, determined centrally, were lower than competitor’s for comparable products in the market. They were able to maintain this competitive edge in the market and have good percentage margins as they had efficiencies in the supply chain and their marketing and markdown requirements were low. 8. International market: Zara had rapid expansion during the period 1999-2001 wherein it opened chains in 24 countries as compared one country per year from 1992 to 1997. In comparison, HM added just 8 countries from 1980s to 2001. Zara laid focus on market costs rather than own costs for forecasting the prices in a particular market in consideration. This gave them a better idea of the issues and potential in the local markets and they were able to assess market profitability better than their competitors. For market entry, Zara initially used company-owned stores only but as the business expanded with limited resources, it also used the other two modes of expansion, i. e. , joint ventures and franchises. While franchises were used in less risky countries, JVs were used in the markets where barriers to entry were higher. (Pg 15) 9. Marketing: In general, all the countries had similar business arrangements but few local variations were allowed to capture regional aspirations. Zara opened first flagship store in a country and after gaining some experience expanded its span in that country and nearby countries. The international pricing differed from country to country based on the brand positioning and people’s capacity to buy in that country. This way, Zara was able to maximize its profitability while targeting correct market segments. (Pg 17-18) Comparing Zara with the average retailer with similar prices From exhibit 5 we can see that Zara and HM have comparable prices (Appendix B has detailed calculations) Comparing Zara one-on-one with HM, we can infer following points: a. Although asset turnover of HM is higher than Zara, Zara has higher sales to current assets ratio. This implies that Zara has highly mobile revenue system and it is efficient in utilizing its assets to generate revenues. The reason for low asset turnover is that HM outsources its entire production and therefore has much lower level of fixed Metric HM Inditex Zara assets. Asset turnover 2. 0 1. 2 1. 2 Sales to current assets ratio 2. 9 3. 8 3. 8 b. Similarly, though ROA of HM is higher than Zara, Zara is much higher than HM in ROA 18. 9 13. 1 15. 5 terms of operating and net margins. This Operating margins 13. 8 21. 7 21. 7 indicates that Zara’s process in much more Net margins 9. 7 10. 5 12. 4 Average Sales / store 5. 5 2. 5 4. 9 efficient than HM’s. -3 Average Sales / square metre (*10 ) 4. 61 4. 92 9. 51 c. Due to large sizes of the stores of HM, average sales/store is higher for them but if we look at average sales/ square metres Zara again takes a lead over HM. From the above points, we can easily conclude that Zara is more operationally efficient than its competitor in similar price category. Comparing the average retailer and Zara on the basis of sales price, manufacturing costs, advertising nd mark downs: Manufacturing Costs: From Exhibit 3, Zara’s cost of manufacturing is 20% more than Asia (=1. 2*29. 09=34. 9). Zara manufactures 40% in house, another 40% in Europe and 20% in Asia. The manufacturing mix of the average retailer varies around 0 to 40% in Europe and rest from Asia. Media Advertising Costs: Only 0. 3% of Zara’s revenue is spent on media advertising compared with 3%-4% for most speciality retailers. Advertising is limited to the start of sales period at the end of the season in the case of Zara. Items % for Zara Amount % for Others Amount Manufactured in Spain 40% 42. 24 0% 42. 24 Manufactured in Asia 20% 29. 09 50% 29. 09 Manufactured in Europe and North America 40% 34. 91 50% 34. 91 Weighted average 36. 68 32. 00 Sales Price (twice the manufacturing cost) 73. 35 73. 35 Advertising Costs 0. 30% 0. 22 3% 2. 20 SGA Costs 20% 14. 67 30% 22. 01 Profit 21. 79 17. 15 We can see that in the case Zara is profitable on a per item basis. Quick Response Policy QR policy is targeted towards improving coordination between retailing and manufacturing arms of the firm. The increased flexibility to market condition changes made QR policy the most sought after one in the apparel industry exposed to dynamic market conditions. The reduction in cycle time by implementing QR was tremendous. However certain geographical, functional and organisational changes were very much essential for harnessing QR which could help retailer forecast better, reorder frequently and probe the market. The table below depicts the how Zara undertook the changes as compared to World Co. Japan. Zara ? Integrated backward into domestic manufacturing ? Creative product development team which interacted with people across departments (sales, stores) frequently thus relying on high frequency information ? Proactive participation in study of customer demand through the information system present. ? Limited volumes of products (small) presented to customers to gauge preferences and use that information for bringing about changes if any in the subsequent batches. ? Product development personnel chosen from the country where they had to interact with stores. Impact: ? High flexibility in the supply chain ? Failure rates on new products for Zara were 1% as compared to 10% for the sector World Co. Japan ? Integrated backward into domestic manufacturing. ? Low emphasis on design. ? Japanese market relatively depressed than Europe hence probably there was less incentive to implement QR. Impact: ? Unnecessary administrative expenses impacting its revenues badly. ? Diminished net margins (2% of sales) as compared to Zara (10% of sales) Thus, it is evident that Zara’s proactive cross-functional working and effective use of high frequency information translating into reduced failure rates and posed a high competitive advantage. Vertical Integration Apparel industry is a characterized by a buyer-driven supply chain which needs to be more vertically integrated than producer-driven chains, because producer-driven chains are dominated by upstream manufacturers. However in apparel industry the downstream retailers play a very significant role. Zara is a vertically integrated company that owns different levels of the supply chain. From manufacturing to warehouse to retail outlets, Zara owns all of these different entities. This allows Zara to globally optimize instead of locally. This type of centralized decision making reduces the bullwhip effect on the overall supply chain. Information is also centralized allowing permeability amongst the different layers in the supply chain. Vertical integration is necessary for Zara if it wishes to continue with its highly responsive supply chain. (There is however an alternative of locking in highly trustworthy suppliers who can provide similar services. ) The efficient interactions between the retailing and the manufacturing arms (necessary for QR) have been possible for Zara because of its vertical integration. Because of the vertically integrated structure and one firm model they were able to carry out geographical, organizational and functional changes and were able to bring down the lead time from 6 months to about 6 weeks (Exhibit 4). Zara placed more emphasis on using backward vertical integration to be a very quick fashion follower. They were able to start with a new design and have finished goods in stores within 4 to 5 weeks and in 2 weeks for modifications (or restocking) of existing products. In comparison, the traditional industry model involved long cycles of up to 6 months for designing and 3 months for manufacturing. The shorter cycle time reduced the working capital intensity and facilitated continuous generation of new merchandise. It also allowed them to commit to bulk of its product line for a season much later than competitors (which was one of the main problems of the Sports Obermeyer Case). Thus, Zara undertook 35% of product design and purchases of raw material, 40%–50% of the purchases of finished products from external suppliers, and 85% of the in-house production after the season had started, compared with only 0%–20% in the case of traditional retailers (Pg 9). However, Zara’s vertical integration strategy is not entirely without its drawbacks. With having only few manufacturing facilities, Zara is unable to take advantage of economies of scale in order to produce a large amount of apparel for a relatively cheap unit price. Also, with Zara’s high replenishment rate of store selections, it needs to invest in highly flexible machinery and very skilled workforce in order to produce apparel in a quick and efficient manner. Production costs (machinery and labor) are relatively high for Zara’s supply chain compared to their competitors. Challenges Manufacturing and warehouse locations: Zara’s faces competition in its home market largely from HM which competes with Zara by providing lower prices with lesser variation. One of the biggest challenges for Zara is that they have concentrated everything right from their central warehouse, headquarters and factories in a corner of Europe in Galicia, Spain. This means that their costs and prices steadily increase as Zara moves further into Europe. Supporting this argument (Exhibit 15) the price of a Zara shirt shoots to 1. 5 times by the time it reached north Europe or Denmark. Germans are stated as being highly price conscious customers. A new firm in fashion apparel can utilize Germany as a base; follow Zara’s strategy of rapidly adapting to fashions and beat Zara heavily on prices. Germans are expensive as a labour force but one can then utilize cheaper locations in Eastern Europe like Poland which though not specified but are bound to be cheaper. This issue is also seen in Japan where they are bringing manufactured items from Spain even though China is next door and is a very low cost location. In any future expansion, they should look at setting up other hubs both within and outside Europe. Aggregation and transportation costs: Another problem is that they ship every item and receive all deliveries in their central warehouse in Arteixo. No strategy for bundling together demanded items has been described and with store deliveries every two weeks, transport costs will shoot up as distance increases making expansion of Zara unprofitable. Expansion into new markets is needed if Zara wishes to achieve the 20% revenue growth rate as the Spanish market which Zara is expected to dominate based on its location advantage, will saturate soon (HM could hit a high of 10% only in Sweden before declining). To achieve profitable revenue growth in other future hubs, Zara needs to recreate its Galician hub in other locations or break down the hub strategy and spread out production and distribution. Recommendations Inditex should focus its energy on its current chains, specifically Zara since this chain in particular is responsible for much of Inditex’s success. The move into the Italian market fits perfectly into Zara’s paradigm of effective Quick Response and is a laudable one. Also, entry into United States of America should rather be avoided at this stage as the American market is relatively backward as compared to fashion and Zara won’t be able to do justice to its capabilities as they could be rendered useless. Thus in order to undergo a sustainable growth, Zara should focus on partnering in geographies where its capabilities are complemented. Zara should also consider decentralising its manufacturing facility to locations located optimally from its new markets and consider places with low cost of manufacturing and labour (China and South Asia for Asian and European markets and Mexico for US market – if Inditex wants to still move into US market). Appendix 1: Apparel value chain (Source: Appelbaum and Gereffi (1994)) Appendix B: Detailed Computations HM Inditex Zara Gap Benetton Net Operating Revenues 4269. 0 3250. 0 2477. 0 15559. 0 2098. 0 COGS 2064. 0 1563. 0 1191. 2 10904. 0 1189. 0 Gross Margin 2205. 0 1687. 0 1285. 8 4656. 0 909. 0 Operating Expenses 1615. 0 982. 0 748. 4 4276. 0 624. 0 Operating Profits 590. 0 705. 0 537. 3 379. 0 286. 0 Non-operating Expenses -28. 0 209. 0 96. 3 108. 0 43. 0 Pre-tax Income 618. 0 496. 0 441. 0 272. 0 243. 0 Income Tax 206. 0 150. 0 133. 4 280. 0 92. 0 Minority Interests 0. 0 5. 0 0. 0 2. 0 Net Income 412. 0 341. 0 307. 6 -9. 0 148. 0 Current Assets 1468. 0 854. 0 650. 9 1468. 0 1558. 0 Assets 2183. 0 2605. 0 1985. 4 8566. 0 2821. 0 No. of stores 771. 0 1284. 0 507. 0 3097. 0 5456. 0 Avg. Store size in sq. mt. 1201. 0 514. 0 514. 0 632. 0 279. 0 Asset turnover 2. 0 1. 2 1. 2 1. 8 0. 7 Sales to current assets ratio 2. 9 3. 8 3. 8 10. 6 1. 3 ROA 18. 9 13. 1 15. 5 -0. 1 5. 2 Operating margins 13. 8 21. 7 21. 7 2. 4 13. 6 Net margins 9. 7 10. 5 12. 4 -0. 1 7. 1 Average Sales / store 5. 5 2. 5 4. 9 5. 0 0. 4 Average Sales / square metre (* 10^(-3)) 4. 61 4. 92 9. 51 7. 95 1. 38 Ratio of revenues Ratio of revenues

Loot Plot summary Essay Example

Loot Plot summary Paper The play begins in the afternoon in Mcleavys house. A coffin stands in the room. Mcleavy is on stage mourning his wifes death. Fay enters and begins the farce by being insensitive and inappropriate for the situation. Dealing with religion, sex and death; the first two pages sets the farcical scene. Fay suggests Mcleavy, after three days of being a widower, find a new wife. Fay describes someone like herself as the perfect candidate for Mcleavys second wife. Hal enters the room he opens a wardrobe and then re locks it. Mcleavy questions what is inside but Hal moves the topic of conversation along. Mcleavy leaves to look at a wreath. While Fay and Hal converse we learn of Hals illegal past and activities. Hal also introduces us to Dennis his friend who we meet later. Hal tells us he works for an Undertaker. Mcleavy re-enters and tells us of a bank robbery where thieves got away with a fortune. The bank is described as the one next to the Undertakers. The scene is setting out the story and the missing money is becoming the centre of concentration. Dennis arrives with the cars. We will write a custom essay sample on Loot Plot summary specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Loot Plot summary specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Loot Plot summary specifically for you FOR ONLY $16.38 $13.9/page Hire Writer They ask about the damaged caused to the Undertakers in the robbery. Mcleavy and Fay leave the room and Hal and Dennis are left. Suspicions are proven to be right as Dennis explains to Hal the trouble hes had with the police. Hal reveals the plan of hiding the money in the coffin. Hal finds out Dennis has been having sex with Fay. Dennis tells Hal he would like to marry her, its the one thing I havent tried. Fay and Mcleavy re-enter the room. Fay places the ten commandments on the coffin because she was a great believer in some of them. Hal and Dennis lift the coffin and exit. Truscott then soon enters pretending to be attached to the metropolitan water board. Mcleavy is asked to go and find his water mains. Truscott acquires Fays handwriting, which he uses for evidence later on. Mcleavy enters and tells Truscott where the mains is, Truscott goes off to find it. Hal comes back and reports a flat tyre and therefore a delay of the funeral. Dennis enters and leaves with Mcleavy. Hal and Faye are left while they go to the funeral. She insists he opens the wardrobe where his mothers corpse is. She ask him what is in there and he admits straight away. She ask where the money is and he admits straight away. Fay gets in on the deal she demands her 33. 3% to help Hal get rid of the body. Fay undresses the body during the melee of this Truscotts shadow can be seen at the door. He knocks on the door. Hal cleans away the clothes and Fay lets him in. Truscott looks in the wardrobe but the body is elsewhere now. Truscott sees the body but believes it to be a dummy for a sewing exhibition. Truscott expects Hal of the robbery and tries to beat an answer out of him. Fay reports an accident and Mcleavy enters. There was a crash and the money has been brought back to the house. Mcleavy and Truscott leave to fetch an image of the pope. Dennis is told of Fays involvement he asks her to marry him. Truscott questions Dennis involvement and the act ends with Dennis hurrying out with the corpse and Truscott finding a glass eye on the floor. Truscott is examining the eye under a magnifying glass. Mcleavy and Fay enter. Truscott tries to explain something to Mcleavy when Hal and Dennis burst in with the corpse, Truscott still believes it is a dummy. Truscott explains he is a police officer. He explains he is not only looking for the robbers but the murderer of Mrs Leavy. Truscott finds a book called The trial of Phyllis Mcmahon. Nurse accused of murdering her patient He stares hard at Fay. He takes a page from the book. The page shows the killers handwriting and he matches it with the example he got from Fay earlier. Truscott cant prove anything and believes the eye he found was from the dummy. Mcleavy sees the eye and knows it is his wifes. Hal claims to of given it to Fay. Mcleavy opens the coffin to put the eye back, when he opens it he falls back as if to faint. The lid is replaced before Truscott sees inside. Finally the coffin breaks and money falls at Truscotts feet. Truscott is bribed with 25% of the money. Truscott then has Mcleavy arrested as he doesnt want in on the deal and wants Truscott arrested. The play ends with Fay finally accepting Dennis offer of marriage. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Geoffrey Chaucer section.