Costco Wholesale in 2012 Essay Example for Free

Costco Wholesale in 2012 Essay Analysis and Evaluation Since the inception of Costco in 1983, one of its drawbacks is, they have 4,000 selections of merchandise compared to their competitors. In addition, customers can only purchase merchandises in bulk. Consumers who shop at Costco do not have the choice to pick up one single item, for instance a can of soup. Although Costco prices are low and the consumers get more for their money, more consumers are wasting food because they no longer have the big families. Costco needs to look at the demographics and re-evaluate their business model, as this could be detrimental to the company. In today’s society, more families are getting divorce and are becoming single parents. The big families are almost none existent; therefore, most consumers do not need to purchase in bulk. Many consumers want to have choices when it comes to the amount of food they purchase. One may say there are other shopping establishments a consumer may visit to get exactly what they want; however, that is beside the point. Giving consumers the choice to purchase individual merchandise will not only bring in more business but also an increase in cash flow, which will also increase profits for Costco. On the other hand, Costco competitors such as Wal-Mart stocked up 40,000 to 150, 000 items for shoppers to choose from and Sam’s Club have over 16,000 items. Sam’s Club have the treasure-hunt items but tend to be less upscale and carry lower price tags than those of Costco. Both Wal-Mart and Sam’s Club give shoppers more choices than Costco even though Costco offers a cheaper price on their merchandise. Costco spends very little in advertisements and they totally rely on their name and word of mouth by their customers. Compared to Sam’s Club they spent about $50 million annually advertising and direct mail promotions. Furthermore, Costco does not have a Public Relation department, which is not good business practice, even though they have been around for years and they are doing well financially. However, there are many opportunities for one of its competitor to come in take away their market share. Costco does not attract people who are below the poverty line; they cater to the business consumer and urbanites that have an annual income of $100,000; therefore, people who are impoverish cannot afford the membership fees and bulk purchase. In addition, Costco membership fee is more expensive compared to Sam’s Club. Recommendation Costco needs to improve the variety of choices by giving the consumer more than 4,000 items to choose from while their competitors are actually giving customers what they want. Costco needs to take into consideration the economy; people have lost their jobs and the recession, as customers are looking for cheaper prices and ways to saving money. Furthermore, if Costco does not come up with new and innovative strategies to entice low income and single household family to their establishment they are giving their competitors the upper hand. Costco should also focus on the advertisement because number of its rivals is already doing intense advertisement. In today’s global and technological world, many businesses are being aggressive and are taking advantage of investing heavily on the marketing. Costco cannot continue to use the concept of sitting back and waiting for their customers to spread the word by mouth. Costco needs to move in the direction of the 21st century by being more proactive by utilizing technology and a PR department for marketing purposes. It is true that company like Costco are doing good in economic downturn but competitors like Sam’s club is outperforming Costco in pricing which could be biggest threats to the Costco even though Costco keeps relatively branded and qualitative product than that of Sam’s Club The Five Forces Model of Competition Substitutes Strong threat Good substitutes everywhere Price not significantly higher Comparable product features More variety of features Low switching cost Potential new entrants Low threat Small pool entry candidates High barriers to entry Expanding market Attractive profits Buyers Weak bargaining power Some switching cost Large membership base Costco has the best value Suppliers Weak bargaining power Many suppliers Low switching cost Many substitutes exist Large quantities are needed Competing sellers Fierce Competition Costco is on top Quality is slightly better Buyer demand is growing Buyers switching cost is low SWOT Strength| Weakness| Low product and services†¢ Strong brand†¢ Excellent merchandise†¢ Exceptional employees†¢ 54 million members†¢ Economics of scale†¢ Efficiency| James Sinegal is 79†¢ Maintain high wages†¢ 42% higher than Sam’s Club†¢ Comparatively less attractive store layout for luxury items†¢Ã‚  Declining or inconsistent profit margins†¢ Primary focus on business customers rather than individual customers| Opportunities| Threat| Recession- Easier to find bargain luxury-items- Increased popularity of Costco†¢ Expanding foreign markets- Europe- China India †¢ Positive image in terms of employees pay and social responsibility†¢ Increasing brand awareness| Fierce competition†¢Costco cannot attract people who are below poverty line due to its membership fees and bulk purchase†¢High competition from Sam’s Club and BJ†¢Political problems in other countries| References Thomspson, A. A., Peteraf, M. A., Gamble, J. E., Strickland III, A. (2012). Crafting Executing Strategy (19th ed.). New York, New York: McGraw-Hill/Irvin.

James Baldwins Writing Technique Essay -- James Baldwin

The Baldwin Technique James Baldwin is highly regarded as one of the great writers of his time. In the â€Å"Notes of a Native Son† he describes a very influential moment in his life. The essay’s setting takes place during the Harlem riots in New York City and Detroit. The riot in New York all began due the fatal shooting of a young African American boy by a white police officer. Protesters began to protest the police brutality, but then fights and looting broke out when some protesters became unruly. Baldwin’s essay reflects upon his interactions and feelings with and about his father. He analyzes how his father affected him and talks about what kind of person his father was. He also reflects on the impact of his father’s death. All the while, within the essay, Baldwin uses different techniques in order to obtain and intrigue his readers. He primarily makes his essay a narrative. However, he also incorporates his analysis, which usually stem from his use of binaries and contr asts. His use of repetitive words also plays a big part in his style. All of those techniques all intertwined in a way that will help the reader understand Baldwin and his ideas a lot clearer. His combination of both narrative and analysis can be viewed in the very first paragraph. Baldwin begins his essay by stating that fact that his father died on the July 29, 1943. Right after stating that fact, he mentions the rioting, which occurred in Detroit and in Harlem about a month before the death of his father. Baldwin incorporates the events that are going on around him in his narrative as a way to set up the environment for the reader. The rioting and other events that Baldwin speaks of is his way of explaining, or even rationalizing his feelings during tha... ... to compare himself with his father. He made the riots in Harlem and Detroit versus the police share similar qualities to his relationship with his father. Baldwin’s word choosing is also very effective in Notes of a Native Son. He italicizes certain words in order to portray his emotions towards a situation without even having to go into an in-depth explanation. Lastly, Baldwin’s most obvious trait in weaving both narrative and analytical writing is the use of word repetition. He continually used the strongest word that he could think of (hate) and just repeat it over and over again. The main thing to notice is that Baldwin uses the same word not only through his narrative but also within his analysis. Works Cited Baldwin, James. â€Å"Notes of a Native Son.† 1955. James Baldwin: Collected Essays. Ed. Toni Morrison. New York: Library of America, 1998. 63-84.

Patriotic Sentiment in the Interwar Essay

The creation of the British Empire and its â€Å"contributions† to the welfare of its colonies was used by many English historians as a source of justification for its existence and future. Needless to say, many English historians would naturally put the British Empire as the â€Å"empire† that aspired for assimilation and multiculturalism, which had been absent in previous empires (although this is debatable) (Aldrich 1988:24). Added to that, because of the perceived inferiority of the colonized peoples, many of these historians usually attached to the â€Å"white man† the significant role of guardian (Aldrich 1988:25). In recent years however, this notion of racial superiority was replaced by the principles of equality and self-determinations. This was in lieu of the increasing surge of patriotic sentiments of the colonized peoples and a general compromise of the colonial powers over the future of the former colonies, as mandated by the United Nations. Modern English historians, while continuing to justify the existence and foundation of the British Empire, admitted some of the mistakes and grave errors usually attributed to the British Empire. Nonetheless, they argued that these mistakes were committed out of necessity. Other colonial powers were greedily aspiring to replace Britain in its role as a superpower. Germany for instance, before the onset of the First World War, was building a powerful navy to replace Britain as a sea power. France was busy eyeing British colonies in Central Africa for its own exploitation. In short, the errors committed by Great Britain to its colonies were a result of self-defense. Added to that, in order for the colonies to benefit from British colonial rule, the colonized peoples would have to sacrifice some of their outdated or â€Å"primitive† institutions and adopt institutions that are characterized by efficiency and commitment to public service. These justifications made by English historians on the role and future of the British Empire were imbued in the study of history. History as a Tool for Application of Theoretical Knowledge The use of history to justify the existence and foundation of the British Empire was not born out of prejudice or unsubstantiated truths. In fact, early English historians noted that history should be as scientific as possible in order to represent the true nature of world events. Added to that, these English historians viewed history as an application tool for upgrading the political, social, and economic systems of the world today. Specifically, knowledge of the end of the British Empire would naturally pave to greater solidarity and understanding between former colonies and the mother country (the colonizer); that they have a common history, and to some extent similar social, economic, and political structures. Although for the common viewer this might seem a little idealistic and devoid of historical verification, this was the practical side of the scientific discipline of history, if we accord them to these English historians. Thus, the extensive use of history as a tool for the political understanding of countries with a â€Å"common† history was the result of theoretical justification of English historians on the existence and rule of the British Empire to about a large portion of the Earth’s population. This was though a problem for many local historians in the former colonies. They extensively used history as a tool for demonizing their colonial oppressors: the justification of independence movements and revolutions. This dialectic aspect of history, depending on the one who views it, disoriented historical data, making the discipline of history itself the vantage point of uncertainty (Aldrich, 2000). Herein, we shall examine the various practices that were incorporated in a large, common society. Nonetheless, we shall also examine power relations between the mother country and its colonies as well as the issue of tolerance and cultural differences. Cultural Toleration in the British Empire When England finally defeated France and Spain in a series of colonial wars, it was able to establish colonies in North America and Asia (Africa was not the target of colonization since it was viewed as an inhabitable and inhospitable continent – although commercial bases were established to streamline trade and commerce with other European powers) (Baldwin, 2007). England was able to acquire Malacca from the Portuguese in the latter half of the 16th century. India and Canada fell into the hands of the British after France’s defeat in the Seven Years War (called French and Indian Wars in North America). The eastern coast of the present United States was colonized by England (the Thirteen Colonies) to foster greater trade between North America and England (it was known as New England). Australia and New Zealand were colonized to provide the British Empire penal colonies for the rouge elements of British society. Rebels and political prisoners were deported to these penal colonies. In the latter half of the 19th century, Britain was able to take possession of several Chinese ports after a series of wars with China, then under the rule of the Manchus (known as Opium Wars). In South America and the Caribbean, some islands were colonized by the British to offset Spanish and French power in the area (although in the early part of the 19th century, Spain controlled at least 2/3 of the land area of North, Central, and South America). In the European partition of Africa, Britain controlled a large portion of North, Central, and Southern Africa. These colonized areas minus the 13 colonies were known as the British Empire. The British fostered a policy of cultural toleration to discourage the native population from revolting. Moslems, Hindus, Taoists, Buddhists, and other Oriental religions existed side by side with Christianity in matters like trade and commerce. Temples of different religions were treated with respect and dignity by British authorities. Nonetheless, British rulers especially Queen Victoria even traveled to the colonies to inspect and inspire the native populations to support Great Britain in its economic undertakings, for the benefit of the mother country and the colonies, and its colonial wars with other European powers (especially France and Germany). Religious festivals were declared as holidays, with some exceptions, to foster greater solidarity with the native population. English was not an enforced language. This was done to preserve and enrich the culture of the native populations. The â€Å"British† educational system was introduced to stimulate greater economic efficiency in the colonies. The British parliament, in its sessions, declared that education was the only plausible and least risky way of opening the colonies to true development. The British parliament and to some extent the British rulers knew that there were form of British economic exploitation in the colonies, thus the only way for them to recreate the image of the â€Å"British Empire† was to encourage education. English was taught in the universities (other European powers loathed this type of strategy) established outside Britain. Economic and maritime schools were also established to stimulate the natives to increase their productivity yield and to participate in naval undertakings. Nonetheless, the British army was remodeled in order to include natives in the soldier payroll. At a specified rank, a native could rise to a prominent rank in the military. Needless to say, to fit in the global economy, Britain also created institutions that would politically and socially integrate the mother country and the colonies. The old models of exploitation and oppression were replaced by systems of mutual cooperation and commitment to a common economic goal. Thus, these contributions of the Britain to its colonies became the framework of early English historians for justifying the existence of the British Empire. Patriotism and Nationalism: The Beginning of Decline Nationalistic sentiment in the colonies grew in the latter beginning of the 20th century. Because of the relative prosperity of the colonies, some of its natives were able to study in European universities and able to acquire the increasing surge of ultra-nationalism (nationalism in Europe differs from the nationalism of the colonies on one count: nationalism in European countries focused on the acquisition of colonies to bring glory to the country, whereas in the colonies on independence) in Europe. When they returned to their homeland, they established organizations which aimed of attaining independence or self-governance status of their homelands. The British authorities naturally would quell these â€Å"uprisings† since this put into question the status quo, and generally the legitimacy of the British Empire. Power Relations But because of the involvement of Great Britain in the two World Wars, it was forced to grant self-governance status to many of its colonies in exchange for economic and military support (in India, Gandhi urged the Indians to fight on the side of the British). However, because of the changing political atmosphere in Britain at that time, the British authorities once more crushed these independence movements. Many were forced to go underground. Some seek political asylum in America or The Netherlands. Added to that, political theory and political education were deleted in the course curriculum of many universities for fear that the British might close the institutions. The purpose of the British authorities was always to preserve the rule of the British Crown on the colonies. All means were therefore necessary in order to dissipate these independence movements. Thus, while the British were open to cultural toleration, they loathed political development in the colonies. Political development is the measure of citizen participation in the affairs of the government. Political development is largely a relationship between the citizenry and the country to which they owe their citizenship. The British authorities were enforcing a policy of â€Å"mother dependency†, that is, the political, social, and economic future of the colonies should depend on the mother country. Later Vladimir Lenin expanded this concept and renamed it as the â€Å"dependency relations. † The mother country, according to Lenin, when its reaches the height of economic development experiences shortfalls and recessions due to overproduction. The surplus produce of the mother country is â€Å"dumped† to the colonies since colonies are potential markets. In this way, economic recessions in the mother country are kept in check, and the laboring class enjoys relative prosperity, at the expense of the colonies. This is a uni-directional type of development unlike the so-called â€Å"mutual development† that Britain was preaching (as exemplified in Africa, in Ramsay, 2000/1784). Practices and Institutions that Became Part of the Colonies’ Society: The Tragedy British colonies can be classified into two categories: 1) those that fully accepted British practices and institutions, 2) those who only accepted British political and educational institutions. India, Pakistan, former British African colonies, and former British Asian colonies adopted the political and educational institutions of Great Britain because of its efficiency and relative good organization. The parliamentary system became the standard system of government of most of the former colonies of Great Britain. It was noted that this type of government adheres to the principles of public accountability and stability. Most of the former colonies of Great Britain using this type of government experience relative stability and effective governance (Toynbee, 1987:401). The tragedy lies on the second type of former colonies. These colonies fully adopted British practices and institutions at the expense of native practices and customs. In Australia and New Zealand for example, most of the population is classified as of British or European descent. When the British came to New Zealand, they dispossessed the Maori through fraudulent land contracts and generally through war (that severely reduced the Maori population by 1/8. The British authorities encouraged immigration to these places (Australia and New Zealand) to reinvigorate economic activities to these places. The result was that New Zealand and Australia became an extension of British society: mirror images of England. The Maori who were the true owners of the country was exploited and dispossessed by the British. In the case of Canada, because of strong French influence (former French colony), the British authorities had the difficulty of making Canada a cultural sphere of influence of Britain. In fact, cultural differences in Canada serve as the marking definition of power relations in Canada. Conclusion While many English historians talk endlessly of a Commonwealth under the banner of Great Britain, they were not able to pinpoint the opportunity costs of the colonization on the part of the colonies. There is no such thing as a common society, for the British Empire created two types of societies in its sphere of geopolitics. The only intersection of these societies is the institutions bequeathed to them by the British Empire. Socially, these societies differ significantly because the British Empire was not able to fully integrate its customs and practices to most of its colonies due to the onset of nationalism and patriotic sentiments of the native populations (in Australia and New Zealand, there was no such thing as a â€Å"political† native population since they were able to reduce their populations through wars and enforced immigration policies). References Aldrich, Richard. 1988. Imperialism in the study and teaching of history. In Benefits Bestowed? Education and British Imperialism. Manchester and New York: Manchester University Press, pp. 23-38.

Augustus Essay - 749 Words

AUGUSTUS Augustus was born in Rome on September 23, 63 B.C. He was originally named Gaius Octavianus, but when his great-uncle, Julius Caesar, was murdered, he took his name. Augustus’ real father died when his son was only four. Augustus was adopted in Julius Caesar’s will and was left to be his heir at the age of eighteen. Caesar was very fond of his grand-nephew and he sent him to the College of Pontifices at the age of sixteen. When Caesar was assassinated, Augustus was in Illyria, where he was sent to serve. It was only when he returned to Italy that he learned he was his great-uncle’s heir. nbsp;nbsp;nbsp;nbsp;nbsp;Caesar’s death brought turmoil to into Rome. Augustus was determined to avenge his adopted father’s death and†¦show more content†¦Augustus took over Italy and the West, while Antony ruled the East. Lepidus was given Africa. Augustus and Antony had their differences when assigning the ruler of Italy, but they were over come when Augustus gave Antony his sister in marriage. Augustus stripped Lepidus of his power when Antony was away in the east fighting the Parthians. The Triumvirate was falling apart. Antony started neglecting his provinces and spent time in sent his wife back to Rome and married the queen of Egypt, Cleopatra. Cleopatra had been installed as queen by Caesar. She had a son with Caesar named Caesarion and recognized him as her coruler. This undercut Augustus’ position as Caesar’s only son and the war was inevitable. Augustus defeated Antony and Cleopatra’s forces in a naval battle and the following ye ar, the two committed suicide. Caesarion was murdered. Augustus returned to Rome and at the age of 34, he was â€Å"the sole master of the Roman world†. (Augustus, 1996) In 27 B.C., the Roman Senate gave Augustus his name. The name Augustus means â€Å"consecrated† or â€Å"holy†, implying that Augustus was more than a man, but not quite a god. The Senate gave him other great names and titles that had been held by other officials in the Republic. They also gave him the legal power to rule Romes religious, civil and military affairs, with the Senate as an advisory body, effectively making him Emperor. 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It was the main residence of Augustus both before and after he became emperor of Rome. The residence was officially discovered in the 1960s during an archaeological excavation of the Palatine Hill. As the excavationRead More Augustus Caesar Essay1118 Words   |  5 PagesAugustus Caesar Works Cited Missing Augustus Caesar, the Romes first true Emperor was the historical figure who had the greatest impact upon the western world between the dawn of civilization and the end of the middle ages. Augustus Caesar (31B.C. - 14 A.D.) was originally named Gaius Octivian, the name Augustus was granted by the Roman Senate, which means magnificent. The success of Augustus was he developed an honest government, and during his reign, he rebuilt many structures to improveRead MoreEssay on Augustus Caesar859 Words   |  4 PagesAugustus Caesar Gaius Julius Caesar Octavianus (Octavian as he was called until the adoption by Caesar, later called Augustus Caesar) was born 23 September, 63 BC. 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Augustus ruled for four years as an independent citizen then accepted his title as â€Å"emperor.† Augustus was the first roman emperor and led Rome’s transformation from republic to empire. Augustus never claimed the title as emperorRead MoreEssay on Augustus and Alexander1199 Words   |  5 Pages Alexander the Great and Augustus Caesar have proven to be two of the worlds best leaders. These men were brilliant and a great influence on their people, bringing great wealth and prosperity to their nation as well as expanding their empires. Alexander and Augustus each came to power at a very young age and ruled in a totalitarian manner, with their main weapon being their military. However, even though they had similarities, each was very different. The following will prove my thesis. 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Nelson Mandelas Way to Freedom - 1188 Words

Nelson Mandela life was dedicated to the struggle to set his people free. Nelson Mandela was threatened with death and put in jail but when he came out he embraced grace and forgiveness. In the fight against the partied was in South Africa Mandela felt violence was justified, he was arrested on a charged with treason and sentenced to life in jail, for twenty seven years he was cut off from the world. In nineteen ninety he was set free, forgiving he appeasers Mandela led a new South Africa who was a freedom fighter who become a icon all across the world. Mandela`s own fight and made a vision for others across the word, he was born in 1918 in South Africa were black people were oppressed by a white minority. Raised in a large family by†¦show more content†¦When Mandela returned to Johannesburg, Nelson was arrested and charged with leaving the country without a passport. Nelson was found guilty and was sentenced to five years in jail but the A.N.C continued their campaign and the entire top leadership was arrested police found plans for sabotage and guerilla warfare which has Mandela mentioned which now means he and his members now face serious charges of plotting against the state and if they got convicted faced life in jail or death penalty and on the day that sentencing was made many believed Nelson would be getting the death penalty but was relieved to hear that it was life in prison instead with hard labour. For thirteen years Mandela was subjected to hard labour and had to curry lime stone, as guards tried to break down Nelsons spirits and bully him Nelson fought back by telling his comrades to be slower than ever when breaking up the lime stone so that it would act as punishment for the guards who had orders to obey by for a day’s work. Mandela made a name in the jail for himself and came to a point that the guards had to negotiate with him for the group to get work done because they were under Mandela`s commands and followed his tongue . He would yell to the others to go slow and took him ten minutes to lift his pick axe above his head to slow down the work pace and was charged to only receive rice water. Private mail was a way to control prisoners. Gauds was given orders to mess with the incoming andShow MoreRelatedThe Legacy of Nelson Mandela1215 Words   |  5 Pagessystem of apartheid (â€Å"In Nelson Mandela’s own words†). Nelson Mandela was a moral compass symbolizing the struggle against racial oppression. Nelson Mandela emerged from prison after twenty-seven years to lead his country to justice. For twenty-seven years he sat in a cell because he believed in a country without apartheid, a country with freedom and human rights. He fought for a country where all people were equal, treated with respect and given equal opportunity. Nelson Mandela looms large in theRead MoreNelson Mandel A True Inspiration For All Of Humanity1748 Words   |  7 PagesNelson Mandela: From Vision to Transformation A true inspiration for all of humanity, Nelson Mandela broke down barriers of social injustice, committing his life to the vision of a free and democratic society. His dedication and inspiration to those considered underprivileged or subjugated within their own governmental or political constraints serve as testaments to the power of leading with compassion and humility. Through his leadership and years of self-sacrifice, Nelson Mandela became SouthRead MoreComparing Martin Luther King and Nelson Mandela1041 Words   |  5 PagesActions, beliefs, and patience are characteristics that are comparable in both the lives of Martin Luther King and Nelson Mandela. I. 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Segregation and mistreatment of the less superior—non-whites--became a government policy called â€Å"apartheid,† which means à ¢â‚¬Å"apartness† in the Afrikaans language. Nelson Mandela refused to bow down to the unjustRead MoreNelson Mandela And His Success1408 Words   |  6 PagesNelson Mandela and His Success Introduction Nelson Mandela, the pursuit of freedom let him go out of the tribal sheikhs and take part in the movement for the emancipation of the underground. He had spent much time in the prison of a quarry, finally entered the presidential palace of the richest country in Africa. Nelson Mandela has strong character and he venerated national heroes. He is the eldest son in the family and is designated as the emirate. 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Swot - Pepsi and Coca Cola - 1142 Words

Sarbanes Oxley Act of 2002 The Sarbanes-Oxley Act of 2002 is a United States federal law enacted on 30th July 2002, also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called SOX or Sarbox. This law was passed in response to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals, which cost investors billions of dollars when the share prices of the affected companies collapsed, shook public confidence in the nation s securities markets. Named after the sponsors Senator Paul Sarbanes of the Democratic party of Maryland and Representative Michael G. Oxley of the Republican party of†¦show more content†¦Given that the professional costs and managerial time varies little with company size, small and mid-sized companies must allocate a higher percentage of revenue to SOX compliance (Morgenstern and Nealis, 2004). Many of these firms have considered such measures as reverse stock splits to shrink the company to a size below that required to meet SOX’s strictest requirements, or have considered delisting the company. According to Wharton School study, most companies de-listed their shares in an attempt to avoid the high costs of complying with the SOX Act, with some smaller companies listing costs of as high as $500,000 to comply. Some companies, however, de-listed to avoid outside monitoring and scrutiny, leading the study’s authors to suspect that firms were not being managed in the most efficient way or that their compensation was excessive. The study found that some of the firms with â€Å"higher free cash flow and lower-quality accounting† were more likely to â€Å"go dark† – to deregister from the SEC and become private firms (AP, 2004). Independence of board members may also place hardships on smaller companies. 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Receivables Management on Profitability †MyAssignmenthelp.com

Question: Discuss about the Receivables Management on Profitability. Answer: Introduction Financial analysis focus on evaluating financial position of the company. It is done with the use of final accounts of the company which are prepared at the end of the financial year. This analysis shows the profitability, efficiency, liquidity and overall fianc structure of a company. This report is all about the critical examination of the performance and position of the two companies which are Microsoft and Oracle. A comparative analysis of the financial position of these two companies is done to know which company is more profitable and efficient form investors point of view (Vogel, 2014). Microsoft Corporation is a multinational information technology company. It is an America based company whose founder is Bill Gates and Paul Allen. It manufactures, licenses, and sells a wide range of software products and services. Its known software products are Microsoft Windows, Microsoft Office Suite and Internet Explorer. It also designs and sell hardware devices such as Xbox, Windows phone and so on (Microsoft.com, 2017). Oracle Corporation is a computer technology corporation which basically deals in developing database software, cloud engineered systems and enterprise software products. It is considered to be the largest software developer after Microsoft and is also amongst Microsofts main competitors. Larry Ellison, Bob Miner and Ed Qates are the founders of this corporation. Oracle Applications, Oracle database, servers are some products produced and deliver by the corporation (Oracle.com, 2017). In this report, Ratio analysis of the final accounts of both the companies is done so to let the investors know about the better performing company to invest in. To measure companys profitability, efficiency, liquidity and to know about its overall finance structure, the method of ratio analysis is used. It includes measurement for several categorized ratios to know about the different aspects of an organisation. They are classified as liquidity ratios, solvency ratios, activity ratios, efficiency ratios, and profitability ratios. To analyse the final accounts of both the companies, ratio analysis is done (Fraser, Ormiston and Fraser, 2010). Financial statements Microsoft Corporation Liquidity Ratios 2016 2017 Current ratio 2.352881716 2.477273079 Quick ratio 2.31495864 2.443473275 Working capital 80,303.0 95,324.0 These ratios are used to show how quickly a company can converts its assets into liquid form that is cash. There are two type of liquidity ratios named as current ratio and quick ratio (Zainudin and Hashim, 2016). Oracle Corporation Liquidity ratio 2016 2017 Current ratio 3.737389586 3.08193399 Quick ratio 3.725069735 3.069526015 Working capital 47,105.0 50,337.0 Current ratio: It is used to know about the amount of current liabilities in proportion to current assets. It also shows the capability of the company to meet its short term debts. 2:1 is considered an ideal ratio. Microsoft Corporation ratio has raised from 2016 to 2017 while there is a decrease in Oracles current ratio during 2016-2017. It clearly indicates that Microsoft has enough assets to pay off its liabilities in comparison with oracle because a large portion of its current assets comprises of cash and less is involved in inventory which enable it to make other investments with its assets and providing the investors a better view of the performance. Quick ratio: An acid test ratio used to measure potential of the company in paying its debts with se of most liquid assets like cash. It also means how quickly a company can convert its current assets into liquid form. 1:1 is treated as an ideal ratio. There is an increase in the quick ratio of Microsoft and a decrease in the ratio of Oracle. Both the companies have capability to pay off their short term debt with their quick assets but Microsoft can perform this task more efficiently as compare to Oracle. The reason being, it has high portion of liquid cash in comparison to its current liabilities, which can be easily used to pay them off (Saleem and Rehman, 2011). Efficiency ratios These ratios helps in analysing that in what manner company is utilising its resources. They indicate the potentiality of the company to use its assets and manage its liabilities in an effective and efficient manner. The efficiency ratios are: Debtors turnover ratio: It shows how well a company can collect the cash from its trade debtors. A high ratio states that debt collection of the company is efficient. Creditors turnover ratio: It evaluates that how frequently a company pay to its trade creditors. A high ratio means that the company is capable enough to pay back its account payables on a regular basis. Inventory turnover ratio: Efficient management of the inventory and the number of times a company sold its inventory during a year can be observed by this ratio. Assets turnover ratio: It a ratio between the revenues and the assets of the company. It shows the effective employment of the assets by the company to make or generate revenue. A higher ratio indicates better company performance. Microsoft Corporation Efficiency ratio 2016 2017 Debtor turnover ratio 4.725629778 Creditor turnover ratio 4.795772676 Inventory turnover ratio 15.46074007 Assets turnover ratio 0.413772483 Oracle Corporation Efficiency ratio 2016 2017 Receivable turnover ratio 7.061862424 Creditor turnover ratio 13.54306437 Inventory turnover ratio 29.17578125 Assets turnover ratio 0.305278532 The debtor turnover for Microsoft is 4.7 and for oracle, it is 7.06. As it has been said that a high account receivable ratio is more favourable for the company. Oracle has higher ratio as compare to Microsoft which means it collects its receivables more efficiently and regularly during the year. It can convert its debtors into cash faster than Microsoft and is able to pay its liabilities sooner (Jindal and Jain, 2017) Higher creditors turnover ratio proves to be good for the company. In comparison with Microsoft, Oracle has high payable turnover ratio of 13.54, which implies that it pay off to its creditors very frequently and also have a stable liquidity. This ratio is generally used by the creditors and from their point of view a company who can pay them back frequently and regularly is much better than the company who make delays in the payment. So in terms of this, Oracle is performing better than Microsoft. As compare to industry standards, companies prefer higher inventory turnover ratio. Comparatively, Microsoft has low ratio which means it has purchased more inventory and may lead to over stocking, whereas Oracles ratio shows that it has managed its inventory in a well-planned manner. Inventory ratio is important for the investors and having a high ratio tells the investor that the company is not buying the stock unnecessarily and is very effective in selling it (Barman and Sengupta, 2017). Asset turnover ratio of Microsoft is a little bit more than Oracle. It implies that Microsoft is good at generating its revenue by using its assets efficiently and also gives an indication to the investors that the company is managing its assets very well to develop sales. Profitability ratios Detail study of the financial accounts of a company to know about its profitability or in other words to have an idea about its ability to generate profits from its operations, is done with the help of Profitability ratios. These ratio give an overview of the companys profits being made during the fiscal year. Types of profitability ratios are net profit ratio, gross profit ratio, operating profit ratio and so on (Camilleri and Camilleri, 2017). Microsoft Corporation Profitability Ratios 2016 2017 Operating Profit Margin 0.246061885 0.282056698 Net Profit Margin 0.196882325 0.235730962 Return on Capital Employed 0.2 0.1 Return on Equity 0.233315277 0.292897201 Return on Total assets 0.086724421 0.087952017 Oracle Corporation Profitability Ratios 2016 2017 Operating Profit Margin 0.348449267 0.352920908 Net Profit Margin 0.240262369 0.247428965 Return on Capital Employed 0.1 0.1 Return on Equity 0.188225592 0.173319718 Return on Total assets 0.079345694 0.069152758 Operating Profit Ratio: This ratio shows how systematically a company can control its cost and make profits after meeting its all operating expenses. A higher ratio is more favourable as compare to a lower ratio. Calculation of this ratio gives a clear idea that operating margin of Oracle is more than Microsoft and it has also increased during the year. This means Oracle has enough capacity to make revenue from its operations and for investors, it is a good option to invest in as it makes the proper use of its ongoing operations to generate revenues. Net Profit Ratio: It is calculated to know about the profits earned by the company during a fiscal year. A high ratio indicates the proper and efficient management of businesss operations in order to raise profits from annual sales. As per the calculations done above, it can be seen that net profit margin of Microsoft Corporation has been increased from 19.68% to 23.57% whereas on the other side Oracles profit margin almost same as compare to the previous year which is 24.74%. Although, the profit percentage of Microsoft has risen during the year but it is less than that of Oracles margin. This clearly means Oracle Corporation has high profitability and is able to maintain its profits at an increased level during the fiscal year. Return on Capital Employed: It shows the effective utilisation of assets in long term financing. Investors generally prefer this ratio, as it provides them the information about companys effective and efficient use of its capital employed. As far as Microsoft is concerned, the ratio is 0.2 in 2016 and 0.1 in 2017 and on the other side ratio of Oracle is same during the year 2016-2017 that is 0.1, which implies that they have used its capital employed in an efficient manner and maintained a stability in their profits (Kartio, Mirza and Shaikh, 2017). Return on Equity: This ratio measures how well a company make use of its shareholders investment in generating profits. A higher return on equity is favourable for the company. In comparison to Oracle Corporation, return on equity of Microsoft is higher and has also increased during the year. This means that the company is performing better and investors can invest in it as they will get higher returns on their investment. Getting high and increasing returns is one of the factors, investors look for in a company (Penman, Reggiani, Richardson and Tuna, 2017). Return on Total assets ratio: It shows the efficient management of all assets to produce revenues. A higher ROA is good from investors view point. There is a slightest increase in the ROA of Microsoft while ROA of Oracle has decreased. It indicates that Microsoft is using its assets to make profits more effectively. It can easily convert its assets investment into revenues. A positive ROA generally shows the increasing trend of profits (Jenter and Lewellen, 2015). Capital structure ratio These are the ratios used to know about the capital structure of a company. They give an idea of the arrangement of funds for business operations. One of the capital ratio is debt-equity. Debt comprises of long term creditors, issuing of bond while equity means investment done by investors, earnings retained by the company. Microsoft Corporation Capital structure ratio 2016 2017 Debt- equity 1.690306541 2.33019311 Interest coverage ratio 16.88978278 11.41809181 Oracle Corporation Capital structure ratio 2016 2017 Debt- equity 1.37222187 1.506331229 Interest coverage ratio 8.799591002 7.405450501 Debt-Equity Ratio: It compares the companys total debt and total equity. It shows the proportion of company funds raised from debt and equity. A higher ratio indicates that the more funds are been raised through creditors as compare to investors so a lower ratio is more favourable (Levi and Segal, 2015). Microsofts debt equity ratio is higher than Oracle and has also raised during the year. It is riskier for the investors and creditors to invest in this corporation. Generally creditors does not prefer higher debt equity ratio as it gives them an indication that the portion of investment done by investors is less than that of done by them. Whereas oracle has more stable business and investors can invest in it. Interest Coverage Ratio: It gives an idea about the interest payments done by the company in a given period of time. Creditors generally used this to know about the risk taking factor of the business. A coverage ratio of more than 1 is always considered good. As compare to Microsoft, Oracles ratio is less while Microsoft has better coverage ratio and is capable of paying its interest payments time to time. Proper funds can be raised from creditors as they dont have to worry about their payments. Investors should also invest as the risk factor of Microsoft is low as compare to Oracle (Ferrarini, Hinojales and Scaramozzino, 2017). Conclusion As per the above analysis and interpretation, it can be concluded that the profitability and efficiency of Oracle Corporation is much better than Microsoft Corporation. Microsoft is good at maintaining its liquidity, return on equity and assets at an increased level as compare to Oracle. But doing the overall comparison of the financial performance of both the companies, it can be said that Oracle is performing better than Microsoft at all grounds and as investors always look for a company which has better profitability, efficiency and a good financial structure. Oracle is proved to be a good option for them in order to invest their money in it. References Penman, S.H., Reggiani, F., Richardson, S.A. and Tuna, A., 2017. A Framework for Identifying Accounting Characteristics for Asset Pricing Models, with an Evaluation of Book-To-Price. Barman, A.N. and Sengupta, P.P., 2017. DETERMINANTS OF PROFITABILITY IN INDIAN TELECOM INDUSTRY USING FINANCIAL RATIO ANALYSIS.International Journal of Research in Management Social Science, p.25. Camilleri, E. and Camilleri, R., 2017.Accounting for Financial Instruments: A Guide to Valuation and Risk Management. Taylor Francis. Ferrarini, B., Hinojales, M. and Scaramozzino, P., 2017. Leverage and Capital Structure Determinants of Chinese Listed Companies. Financials.morningstar.com. (2017).Balance Sheet for Microsoft Corp (MSFT) from Morningstar.com. [Online] Available at: https://financials.morningstar.com/balance-sheet/bs.html?t=MSFTregion=usaculture=en-US [Accessed 25 Oct. 2017]. Financials.morningstar.com. (2017).Income Statement for Oracle Corp (ORCL) from Morningstar.com. [Online] Available at: https://financials.morningstar.com/income-statement/is.html?t=ORCLregion=usaculture=en-US [Accessed 25 Oct. 2017]. Fraser, L.M., Ormiston, A. and Fraser, L.M., 2010.Understanding financial statements. Pearson. Jenter, D. and Lewellen, K., 2015. CEO preferences and acquisitions.The Journal of Finance,70(6), pp.2813-2852. Jindal, D. And Jain, S., 2017. Effect of Receivables Management on Profitability: A Study of Commercial Vehicle Industry in India.Management,2(2), pp.246-255. Kartio, M.A., Mirza, A. and Shaikh, F., 2017. Impact of Global Financial Crisis on the Performance of Commercial Banks of PakistanA Case Study of MCB Bank Limited. Levi, S. and Segal, B., 2015. The Impact of Debt-Equity Reporting Classifications on the Firm's Decision to Issue Hybrid Securities.European Accounting Review,24(4), pp.801-822. Microsoft.com. (2017).Microsoft - Official Home Page. [Online] Available at: https://www.microsoft.com/en-in [Accessed 25 Oct. 2017]. Oracle.com. (2017).Oracle | Integrated Cloud Applications and Platform Services. [Online] Available at: https://www.oracle.com/index.html [Accessed 25 Oct. 2017]. Saleem, Q. and Rehman, R.U., 2011. Impacts of liquidity ratios on profitability.Interdisciplinary Journal of Research in Business,1(7), pp.95-98. Vogel, H.L., 2014.Entertainment industry economics: A guide for financial analysis. Cambridge University Press. Zainudin, E.F., Zainudin, E.F., Hashim, H.A. and Hashim, H.A., 2016. Detecting fraudulent financial reporting using financial ratio.Journal of Financial Reporting and Accounting,14(2), pp.266-278.