Effect of Enzyme Catalase on Hydrogen Peroxide

Impact of Enzyme Catalase on Hydrogen Peroxide Presentation In this analysis, I will decide the impact of various centralization of catalyst catalase on the pace of response of deterioration of hydrogen peroxide. Typically, hydrogen peroxide is created normally in human or plant cell. Hydrogen peroxide is the side-effect of breath. As an oxidizer, it will break down to shape oxygen and water. The synthetic condition for the decay of hydrogen peroxide is 2 H2O2 â†' 2 H2O + O2. The response is speeded up by the nearness of compound, to be specific catalase which is utilized in this examination. This component is significant in living life forms cells and body framework especially in human. This is on the grounds that the destructive attribute of hydrogen peroxide may harm the mass of liver where it is to a great extent created during cell breath process. At the point when it is available in high focus, it is a forceful and amazing oxidizer, whereby it is precarious and furthermore perilous as it will erode numerous substances including human skin. Along these lines, convergence of hydrogen peroxide in the cell ought to be continually controlled. At the point when hydrogen peroxide is utilized with the end goal of analysis, this exceptionally destructive material ought to be kept in a holder comprised of non-receptive material, for example, glass. Notwithstanding, at low fixation, hydrogen peroxide can be utilized as disinfectant and germicide for restorative employments. In this specific situation, catalase, a teramer of four polypeptide ties is comprised of more than 500 amino acids long. It is likewise ordered as globular protein in which the polypeptide chain is exceptionally collapsed into a conservative circular shape. There is additionally dynamic site accessible to tie to the hydrogen peroxide substrate to shape protein substrate complex. It is additionally adjusted with four porphyrin heme gatherings to respond with hydrogen peroxide. Also, the chemical catalase is known to be one of the catalysts that have a high turnover number. Its turnover number can be up to 600 000 whereby one atom of chemical catalase can catalyze the disintegration of 600 000 particles of hydrogen peroxide to oxygen and water at internal heat level. This response is referred to as catabolic response as the hydrogen peroxide atom is separated into oxygen and water which are relatively littler. Some of the time, catalase likewise utilizes hydrogen peroxide to oxidize po isons including Phenols, Formic Acid, Formaldehyde and Alcohols. In this trial, potato is picked to be tried because of the nearness of catalase in it. Be that as it may, different creatures, for example, growths or yeast can be utilized just as they are makers of protein catalase. Compound is utilized to accelerate the pace of response by bringing down the initiation vitality of a response. Enactment vitality or free vitality of initiation, is the underlying speculation of vitality for beginning a response the vitality required to distort the reactant particles so the bond can break for a response to happen. Compound capacities as organic impetus in numerous synthetic responses that happen inside our body. For instance, salivation secretes catalyst amylase which catalyzes the hydrolysis of starches in the mouth. In addition to the fact that enzyme plays a significant job in keeping up effective capacity of body framework, it is to a great extent utilized in mechanical field also to accelerate the creation rate. For instance, protease is generally utilized in natural cleanser for local washing and rennin is utilized in production of cheddar. For a protein to complete its capacity successfully, dynamic site should introduce on the outside of the polypeptide chai n. A functioning site is a score or pocket framed by the collapsing example of the protein. This dynamic site has specific synthetic creation and electrical charges on the amino acids, which make up the explicitness of the compound, in which it permits just certain substances to tie to it. At the point when the substrates tie to the dynamic site, here the working system of protein begins. The official of the substrate to the dynamic site bring the substrates nearer and along these lines helps in security development in anabolic response. In catabolic response, the dynamic site may mutilate the state of substrate to break its security. At the point when the items are framed, the substances not, at this point fit into the particular state of the chemical and will leave the dynamic site of the protein. The compound is allowed to tie to another substrate and catalyze another response. The compound isn't modified toward the finish of response. As protein contains explicit shape and charge on its dynamic site, its movement is handily influenced by the adjustments in the encompassing conditions. By and large, unique pH, temperature, convergence of substrate or grouping of compound largy affects its productivity in completing its capacity. At whatever point the progressions in encompassing, for example, change in pH or temperature adjust the holding between the R gathering of the amino acids in the polypeptide chain which structure the dynamic site, the state of dynamic site will change and therefore the substrate will no longer tie to the site. Now, the chemical is supposed to be denatured. On the opposite side, when the temperature or pH is ideal for the response, the pace of response is the most elevated. Despite the fact that the ideal pH and temperature may differ from each other, ideal temperature for most proteins working in human body framework is regularly 37  °C. Be that as it may, the nearness of inhibitors or co factors may modify the chemical action too. In this trial, the impact of compound focus is picked to be explored on the pace of response catalyzed by catalyst catalase. An expansion in compound focus will expand the dynamic site accessible and subsequently increment the pace of response until it arrives at greatest speed when every single dynamic site of the catalyst particles are locked in. Issue Statement: Do various groupings of protein influence the pace of response? Targets: To research the impact of various groupings of catalase on the pace of response to catalyze the deterioration response of hydrogen peroxide To decide the nearness of catalase on the pace of response of hydrogen peroxide. To create powerful test abilities all through the trial Point: To decide the impact of various groupings of compound on the chemical action Theory: The higher the grouping of protein, the higher the pace of response until a greatest speed is reached. Procedures: Utilize a water dislodging method to decide the volume of oxygen gas developed Ascertain the pace of response by utilizing the angle of the diagram Materials: Newly pounded or mixed potato, 3.0 % hydrogen peroxide arrangement, cushion arrangement (pH 6.5), refined water Device: Bubbling cylinders, graduated cylinders, 500 ml recepticle, gauging balance, spatula, conveyance tube, stop watch, estimating chamber, dropper, elastic bung, gauging dish Factors: Variable How the variable is resolved 1. Controlled Centralization of catalase By utilizing distinctive mass of mixed potato at 1g, 2g, 3g and 4g. Various masses of mixed potato show the distinction in convergence of catalase in its substance. 2. Reacting The volume of oxygen gas discharged By recording down the perusing on the graduated cylinders at 30 seconds span. 3. Steady pH Volume and Concentration of hydrogen peroxide By utilizing cradle arrangements at pH 6.8 all through the tests By utilizing a similar volume and convergence of hydrogen peroxide, which is 2.5cm3of 3.0 % hydrogen peroxide all through the investigation Methodology: 1 g of the newly arranged or mixed potato is moved into a bubbling cylinder. 5 cm3 of support arrangement is included into the cylinder and it is twirled to blend the substrate. A graduated cylinder is loaded up with water to the edge. It is put cautiously into a container of water. One finish of the conveyance tube is set into the graduated cylinder with the opposite end with elastic bung prepared to fix with bubbling cylinder. 2.5 cm3 of hydrogen peroxide arrangement is estimated and it is included into the bubbling cylinder containing the potato and cradle arrangement. The cylinder is promptly shut with an elastic bung associated with the conveyance tube. A stopwatch is begun by one individual from the sets in leading this investigation. The volume of gas discharged is estimated for at regular intervals for 5 minutes or until the gas advancement stops. The test is continued utilizing 2g, 3g and 4g of newly mixed potato. The outcomes got are recorded in a table. Charts for volume of gas discharged against time is plotted for every focus or measure of protein utilized. The underlying pace of response for every groupings of compound utilized are worked out. Conversation: In view of the above investigation, the impact of various convergences of compound on the pace of response is effectively decided. Five diagrams are plotted dependent on the outcomes acquired in the trial to show the information in a more clear manner and gives a superior intend to breaking down. The outcomes show that the pace of response is expanded by an expansion in catalyst focus. In this investigation, potato is utilized as wellspring of catalyze. The initial four charts indicating oxygen gas developed against time are drawn dependent on particular mass of mixed potato utilized. The underlying pace of response is estimated from each diagram by acquiring the slope of the chart. An anticipated line is drawn on each diagram. For the most part, the more drawn out the time taken, the higher the volume of oxygen gas developed. At the outset, all diagrams show a quick speed up is the log jam as a portion of the substrates are changed over to items. For the substrate at 1 and 2 g of tw isted potato utilized, the most extreme volume of oxygen gas advanced has reached inside 300 seconds and a level is gotten. This is on the grounds that the response has finished for all substrates. Hypothetically, the most extreme volume of oxygen gas discharged should takes a shorter time when contrasted with 1g and 2 g of potato as progressively dynamic site are advertised. In any case, In the 3 and 4 g of mixed potato which respond, the most extreme volume of bull

An Investigation of the Impact of Oil Price Changes on the Gulf Dissertation

An Investigation of the Impact of Oil Price Changes on the Gulf Council Countries (GCC) Stock Markets - Dissertation Example As indicated by the report any variance in oil costs doesn't go unnoticed. Anyway an expansion or lessening in oil costs doesn't have a uniform impact around the world. A few nations pick up and some endure the outcomes. This paper tries to recognize and dissect the relationship of oil costs to the financial exchanges of the GCC, which represents Gulf participation council.From this paper plainly the most broad supposition that will be that the adjustments in the oil costs indirectly affect the securities exchange. This hypothesis is appropriate as it is accepted by most financial specialists, observers and columnists. This connection between oil costs and the financial exchange can be handily advocated by the most celebrated feature of the Wall Street Journal that says â€Å"Oil Spikes Pummels Stock Market†. Likewise, the Financial Times additionally caught the consideration of the speculators with respect to oil costs sway on the securities exchange by showing feature which says â€Å"U.S. Stocks Rally as Oil Prices Fall†. As per the exploration, the connection between of oil costs and the financial exchange is very erratic and is extremely weird than it is accepted by most speculators. Nobody makes this negative relationship as a thumb of rule yet more often than not these the two factors move in inverse ways. This implies as the oil costs goes up it shows a negative effect on the financial exchange. Then again, as the cost of the oil goes down it brings about a positive effect on the stock market.... It is required for ?ensuring the economy’s just as present day ventures improvement. The change in costs ?of oil is viewed as a pointer of the worldwide or overall economy. Each adjustment in oil ?cost is talked about as an intriguing issue both for the most part just as in monetary and the political circles of ?each nation. There are different elements that may influence the oil costs and prompt them to ?change. Major of these are the equalization moves popular and gracefully of oil advertise, swapping scale ?vacillation of dollar, Opportunistic Practices and flimsiness of geopolitical elements/. These components mutually work for getting replace the oil costs and this change will in general have an effect upon the stock trade exhibitions of various nations also. The exposition intends to examine the effect of oil value vacillation upon the financial exchange record of the GCC nations in the course of the most recent five years. The paper analyzes and investigations the infor mation for most recent five years utilizing the direct relapse model and it has been divulged from the computation of the information utilizing the model that the GCC countries’ stock trades have consistently reacted firmly towards the adjustments in oil vacillation and the oil costs changes happened during the most recent five years have likewise modified the stock trades lists of the GCC nations. List of chapters Acknowledgments Declaration 1. Part one: Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦.8 1.1. Point and Objectives of the examination †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦.14 1.2. Procedure and data†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. .†¦Ã¢â‚¬ ¦.15 1.3. The structure of the

Mask Work in Drama Essay

Our cover work in show was an encounter that I particularly delighted in without question. It additionally made me a superior show understudy since I expanded my body development unmistakably more as my face couldn't be seen. It has likewise given me that with a cover on you can pull out all the stops with your body development yet you ought to let it all out the same amount of with out a veil on. Parts This piece of the portfolio is the place I state what Fragments of Mask work I learnt and delighted in. Watchword Fragments: Parts of development we mostly made up our self’s however consistently needed to keep them ceremonial and exact. The development we were educated in specific exercises were from a custom and must be Ritualistic and exact so every move was significant. Instances of sections I learnt in the exercises with respect to Mask work: I recollect the main exercise that we accomplished veil work I was so uncertain climate I might want it or not. What we did was sat around Miss Grenene did developments that we needed to duplicate in a ceremonial style. At that point she made up duplicate the custom everyday practice with sounds so in the long run we were all doing likewise developments and sounds making us a chorale. At that point she made us carry on the custom including sounds and developments to it as we go. Miss was likewise playing the drum, which made it sound like an old custom war drum. I felt uncertain while doing this yet anyway my feelings turned out to be progressively certain as the class custom showed signs of improvement and better. The sentiments I had were that I needed to keep together with the gathering like a chorale should. Genuine sounds and recollections of sounds and developments were utilized in that custom to carry o n to making our own custom. Like applauding whistling stepping a wide range of sounds and developments. Every one of these thoughts went through my mind and I was thinking this is acceptable so why not include this, this and this to the piece. This was the beginning stage for our work as next we needed to do a custom in veils, which truly completes the custom. I needed to collaborate with Ross, Jack, Lisa and Joe to play out a Ritual of going from an unbiased quiet spot to a hot spot, to a virus spot and afterward an amusing spot. I found on this first execution with a veil that in light of the fact that my face was concealed I needed to communicate my character with my body and significantly more so as I didn’t have discourse. We as a whole needed to group together also to resemble a melody. Unfortunately I felt apprehensive on that exhibition as everybody was moving at various occasions and I was unable to keep up so it went seriously. For the developments I figured I should look freezing and act it and look hot and act it for the others I did likewise reason for the custom. I comprehend that a custom is to be a genuine event and you should act genuine and centered while showcasing a custom like for instance in a burial service or wedding. Which brings me onto my next piece which was the point at which me Jack, Lauren, Keeli, and Michelle were showcasing a wedding. The estate of this exhibition must be not kidding and exact which it was. We did slow obvious developments that streamed and were representative to a wedding. This was a decent piece when we performed it anyway the white fabric got trapped in Keelis hair and we as a whole wound up chuckling. At the point when we performing it I saw weddings on t-v and, all things considered, and perceived how formal they were, so I chose to draw my presentation from that. I played the vicar and with the veil on I felt that Ginny was gone and the Vicar of the wedding was there. I felt quiet and great about this exhibition as it was progressed admirably yet we as a whole giggled which stressed significantly more the need t be not kidding in a custom. Not one of my pieces as of not long ago has fulfilled me with Mask Work. Not on the grounds that I don’t like since I generally couldn’t do my job accurately in development or voice. Presently I was placed in a gathering for my moch test and I was splendid and sure from the word go I had no issue communicating my self and cherished it. I feel that on the off chance that I did it once I can do it again perhaps it was the weight of the test that caused me to progress admirably, anyway I am unquestionably increasingly sure with cover work after that. Reaction: My passionate reaction to veil work is to move toward it in a willing manner. I sensed that I had fizzled at whatever point I didn’t give a decent exhibition, which was more often than not, which thwarted y certainty. I had an inclination that I didn't have the foggiest idea what I was fouling up for quite a while this made me baffled with the work. This made me increasingly decided however on the grounds that I love show so much I was not going to be bothered by enhancements that could and were at long last made. Additionally while we were attempting new things I felt glad or dismal or irate and this was identified with the developments. I found that moving a great deal made me glad and I could do that a ton in the event that I was down. My Intellectual reaction to the work was to consistently be arranged and take a stab at everything and improve. I constantly needed to mentally give a decent contribution to work and get a decent out put from it. Thoughts were continually str eaming into my head to place into a show piece, yet unfortunately I didn’t realize when to stop. The developments that we investigated were constantly formal and expressive as indicated by the character or custom we were playing in. In our moch test I was so satisfied with the reaction I provided for the work, which were otherworldly thoughts, and formal developments, which got a decent reaction, back this made me satisfied. I generally felt prepared to attempt however had fluctuated feelings all through for the most part of center and disarray to the dramatization piece. Advancement: Sections were associated and created as we found out more and put our expanding cover work strategies together into a custom piece. Like our sounds like drumming or murmuring were associated with developments. For instance a shout sound+ hands attempting to haul your hair out could = a crazy individual in custom. Another model could be an individual with tore hands over their head + a long snort could = an individual in a custom who is irate. Cover + Movement = A soundless bit of dramatization where just the body can decipher the custom utilizing genuine pr㠯⠿â ½cis and formal development. Additionally you should consistently have your head forward and confronting the crowd. At that point you ought to have your shoulders back and have clear ceremonial developments and if there is sound use it so it’s clear and applicable likewise boisterous or very relying upon the state of mind. Veil +Movement+ Sound= A Ritual with expressive development and sounds were powerful including climate depending the custom piece. Mask+ Movement+ Sound+ Music= For instance a bit of cover work like Oedipus which was the play we did and transformed into a custom. Fro sound we utilized words from the play like passing, marriage, hanging, the grouching of the eyes. At that point we connected these to formal developments like individuals dieing and the grouching of the eyes. We utilized the music when there was a great deal of strain at a high pinnacle of the custom. The ensemble did developments all together this looked viable and I enjoyed the manner in which they all moved at various level yet at the same time resembled a tune in a custom. Assessment: The moch test we did depended on a play called Oedipus and which we needed to remove 10 words and transform it into a custom with development and music. Our 10 words were: Demise, Marriage, Hanging, Grouching, Suffering, Hurl me, Madness, cutting knifes, torment, and friends and family. The chorale which was Niki, Chris, Kirsty, Joe and Michelle utilized sluggish developments and long suffocating words which made the custom sound like a universe of hopelessness. I was the storyteller and I said about the Marriage, demise and hanging and the gouging of the eyes before all else. This was exceptionally compelling and afterward toward the end I went ahead shouting franticness. At that point the franticness the theme came out and cut me to death then I said the frenzy is done like I was shutting the custom. I should state I cherished the manner in which each one developments were so exact and formal. This so compelling and the sounds we utilized represented the developments we did which made it look great. I loved it since it streamed well and the sounds were uproarious and expressive. On the off chance that I needed to change something about the custom it would be the way that we could have moved more in time and furthermore that the music could have been utilized more to show pressure. Additionally the garments were acceptable too Red representing blood and dark is the frenzy of executing. Different gatherings were so acceptable too I discovered that from them careful discipline brings about promising results. They were so practical in voice and development. Particularly Sheryl and Daniel in voice. The tunes in all the gatherings could have moved better however. From this the thing I have discovered that everybody must chip away at is their developments. The crowds were so acceptable they gave us a ton of applauds and backing to spike us on.

The Financial And Business Performance Of TESCO - Free Essay Example

A company founded by Sir Jack Cohen in 1924 when its first day sale revenue was  £4 and profit was  £1, is the name of todays billion-pound revenue making organization known as Tesco Plc. First Tesco store was opened in 1929 and it become private limited company in 1932. In 1947 Tesco float on stock exchange. Tesco launched its website in 2000 and in 2001 it become leading organic retailer in the UK. From 2002 Tesco reaches to international market and opened new stores in Malaysia, in 2003 it opened store in Japan and turkey etc. Now Tesco is the world third largest food retail company while in the UK it is number one. With 2115 stores, Tesco is Britains largest retailer for food and non-food products (Ref.1, Metro 2006).Tescos Group sale has gone to 11.1% and dividend per share 10.9p not only this but also impressive expansion in all over the world that makes Tesco prominent in food retail industry in the world and particularly in the UK. As an investor and an accountant, I realized the opportunity to analyse the financial statements of the Tesco which will help me to increase my knowledge and skills to evaluate the companys performance. It also helps to understand about the future plans and opportunity in the Tesco. Therefore, I proposed to analyse the following aims and objective s. Aims and objectives The aim and objectives of this research were to examine and evaluate the following factors of the business performance of Tesco Plc: Social Economic Responsibilities towards all stakeholders. Non-financial Performance measures Financial performance measures including, Profitability measures, cash flow statement analysis, assets management performance and liquidity performance. The intention was also to compare the performance with the industry average or competitor wherever it was possible The following section examines and evaluates possible frameworks that would allow this research to effectively meet this aims and objectives. 1.3 The Conceptual Framework Through studying for a business degree, an ACCA qualification, examining and evaluating academic literature, I have considered many conceptual framework. Financial and ratio analysis are valuable tools for evaluating the companys performance but it only examine the financial data and ignore the non-financial perspectives which are going to be more valuable in this modern world then these were ever. Therefore, our business models were considered, such as the balanced scorecard approach, Porters five forces model and BCG matrix. However, porters five forces and the balanced scorecard approaches considered to be the most appropriate for this project as it examined the both internal and external factors. In order to obtain the relevant data the following methodology was undertaken. 2. METHODOLOGY 2.1 Research Philosophy and Approach As the Aim and objective of this project was to explore the financial and non-financial data in order to induce a theme, it was believed that an interpretive research philosophy and inductive approach would be the most appropriate. It also allowed theories to arise as a result of and during the research, which allowed the research project to refocus during the analysis (Ref.2, Zina OLeary, 2004) 2.2 Research strategy 2.2.1 This research project used secondary data The research used secondary data to evaluate performances for the last three years of Tesco (2006-2008). This approach allowed trends to be evaluated and explored which gave strong meaning to the data collected or gathered. A case study approach adopted because it enable the researcher to gain richer understanding of the entity and gave the research the ability to generate answers to the question. Begin by understanding the context in which the case is being analyzed or discussed. What is the topic being discussed? How does this case relate to the topic? (Ref.3, San Josà © State University 2004) 2.2.2 Primary vs. secondary data Primary data was considered, as it would not only have added greater insight and depth into the qualitative aspects of this research, but also it would have reinforced any secondary data obtained (Ref.4, Saunders et al. 2003). However, it was decided to use secondary data for the research of Tesco plc. Secondary data can be really effective and cost effective as it had already been collected and analyzed but problem is if the data had already been collected and analyzed then it also has been used for some other purposes and for different group of people according to their requirements. (Ref.5, A.J. Bell 1995), State: presentation could be misrepresentative as the data collected for different purposes, It could be unreliable as its origin is known and there is risk of bias. The following section examines how I improved the credibility of the secondary data, by examining bias, reliability and validity of the secondary data gathered. 2.3 Bias and Reliability of Secondary Data I was aware of possibility of misunderstanding the data or arriving at the wrong conclusion. Therefore, in order to increase reliability, I gathered the data from the different sources and subsequently match the data that been collected from the different source and tried to use the reliable authentic one. Reliability and authentication of data depend on the source which can be companys website, different business and financial websites, study text books, newspapers and many more. 3. SECONDARY DATA REVIEW 3.1 Academic Textbooks Various different textbooks (especially study text books from FTC, BPP and LONDON SAM) were used to get better knowledge and understanding about the business performance. These were either from my own study text books from fundamental level paper and professional paper or from the London Library. My study textbooks are mostly base on accounting and strategy subject which really helped me to evaluate the financial and business performance of Tesco. Where ever I felt difficulties to understand any term or any point I consult with different books from the library, in contrast I found research related books very useful and innovative with regards to the methodology. 3.2 Newspapers and Magazine Student Accountant, PQ Magazine, The financial Time and City Am amongst other been used to get higher detailed knowledge of the research topic. However I found The Financial Times more helpful for this research project because it keeps highlighting not only financial matter of the company but also non financial matters of the companies. For me it was easier to find out relevant data about the other companies within the same industry like Sainsbury, Asda in the UK and WM globally to compare and analyze the business performance over last three years. 3.3 Websites Tescoplc.com was main website source to get research data for this project. Data mainly taken from the Tesco website was the company financial statements, annual reports, media releases and events. But when reading and analyzing financial and non-financial data, from company official website, lot of extra care and attention is needed as there can be a risk of bias. Research data was also extract and examined from some other websites such as Financialtime.com, thisismoney.co.uk, bpp.com, google.com, reuters.co.uk, investor.cisco.co.uk and many more websites been used to complete this research topic effectively and timely. 3.4 Tesco PLC. Reports Tesco annual financial statements, annual reports and media reports were key source of information for this research topic which has been gathered from different sources. Financial reports contain mainly statement of financial position (balance sheet), statement of financial performance (company income statement), cash flow statement and statement of changes in equity. Non-financial reports may includes company social responsibility towards different stakeholders, Auditors annual report (qualified or non qualified) and directors basis of remuneration etc. Although Companys financial statements prepared in accordance with the international accounting standard (IAS), even than companys profit can be manipulated or smoothing of profit tact can be used. Other problems which may occur by using Tesco financial statements is that financial accounting base on the historic data which may not reflect the current position or future position of the company clearly. So, here again extra care is needed and more analysis is to be done in order to know the better view of the companys performance. 3.5 Limitations Limited access to sensitive data, time restriction and using secondary data for research project, were all limitations of this research. However, objective of this project was to evaluate the business and financial performance of the Tesco Plc. I believe, these limitations do not affect the credibility of this research project as the data I used can be compared and can be found from different sources, for this report. 3.6 Ethical Issues Secondary data already is for general public which can be used from different groups of stakeholders according to their need. In this research project I used secondary data as source of information which is already a public domain So, there is no ethical issue regarding the confidentiality. 4. THE CONCEPTUAL FRAME WORK 4.1 The Balanced Score Card Model Robert Kaplan and Davis Norton carried out a year- long research project and defined the balance scorecard model which enables the companies to evaluate the financial and non financial performance of the Tesco by dividing into four different perspectives (Ref.6, Accountancy College, and JUNE2008): 4.1.1 Financial perspective Tesco financial measures can be evaluate through different heads, liquidity analysis (current and quick ratios), profitability ratio which includes gross profit margin, net profit margin, cost percentage to sale etc. Financial performance of Tesco will be analyzed in detail further in the project. 4.1.2 Customer Perspective Demand for existing and new customers should be satisfied. Tesco policy is to provide Goods of good quality at reasonable prices to its customers. Tesco also considers the customers local and traditional demand. 4.1.3 Internal Business This perspective evaluates the relationship between Tesco and its trade creditors. Recently it has been announced that Tesco asked all of its non-food suppliers to wait for an extra 30 days for payment and also asked them to reduce the prices of the products. (Ref.7, Jennifer Creevy, October 2008) 4.1.4 Innovation and Learning Company culture and innovation approach can be evaluated from the employee productivity and training development programs from the company to its employee. It also need to asses whether Tesco was providing its employee training and development to ensure that its work force is fully competent and providing excellent service for the best interest of the organization. 4.2 Porter Five Forces Model Porter Five Forces Model explains the competitive strategies for the business. How success full Tesco is in non financial performance can be evaluate from its planning towards its competitors and other parties. Tesco non financial performance can be assessed in the light of (Ref.8, Michael Porter 1980) Five Forces Model. 4.2.1 New Market Entrance Tesco is in the food retail industry which is highly competitive. New entrants in the food retail market may not feel easy but even then Tesco strategy against new competitor should be clear. Like Wall-Mart enter in the UK market by ASDA and create high level of competition for Tesco. (Ref.9, Elizabeth Rigby 2008) in her article for financial time states that: competition test has been supported by ASDA, Ms and some other but was opposed by Tesco and won the case after competition test ruling. 4.2.2 Suppliers Powers Powerful suppliers can create problem for the business even they are really good in the financial performance. Non availability to at high cost products can reduce the profit or even destroy the image of the company when products are not available on the shelves on time. Tesco have numbers of suppliers for each products and some of the products are made by Tesco themselves or with the cooperation of the Tesco. Many products prices has been reduced in recent years as compare to the competitors and is also increasing the debtors or supplier payments days to cut the prices of the products which shows company good control on the supplier announced by the (Ref.10, Terry Leahy, chief executive of Tesco plc 2008.) 4.2.3 Substitute Substitute quality or price of the products can affect the targets and objects of the company. Tesco adopted innovative and learning approach. In Porters five forces model, substitutes refer to product in other industries having the same use and for whom the demand of one product changes with the price of another similar or quite similar product. Management of Tesco focused on price and quality of the product and also timely availability. 4.2.4 Buyer power Buyers or customers are powerful or customers are like king for the business. Companies have no or less control on the buyer but strong brand name can attract the customers attention. Tesco gain really good reputation in the UK market and became largest food Retail Company of the UK. But there is limited number of buyers in the market and in the competitive situation, Tesco has to be really good in price as well as in quality of the products. 4.2.5 Competitive Rivalry Conflict among the existing competitors involves market manoeuvring, which increase product innovation for Tesco. In this situation competitive within the food industry may reduced price and spend money on advertisement to win the market share which may end up on the loss for all companies. In current situation there is price war between Tesco and its biggest competitor ASDA (subsidiary of Wall-Mart) and even then Tesco is performing well and still maintaining number one position in the UK market from many year There are more ways to measure the Non financial performance, like The performance pyramid approach The building block approach The six sigma approach But due to some limitation I used two approaches to evaluate the non financial performance of the Tesco Plc. 5. FINDINGS 5.1 Economic Growth Before I start my research on the economic growth, I would like to briefly discuss the economic environment and growth procedure of the Tesco. Currently Tesco UKs sale growth is slowest since 1990s, group sale gone up by 11.1% as compare to 2007 figure but the group profit increase by 5.7%. The different between sale percentage and profit percentage identifies higher cost of sale and other operating expenses. Tesco is a large group that can cut the prices to win the more customers and can share pain of that lower price with supplier: (Ref.11, Robert Peston, BBC news). And this is the approach, Tesco is going to apply on supplier and asked them to reduce product prices and extend payments terms which also reduces the finance cost. Tesco is growing on a fast track in international markets especially in Asia (814 stores in Asia and Thailand is on top of the list with 476 stores), Europe, and USA region by introducing new names like Fresh and Easy same as WM did by entering as ASDA in the UKs market. During last three years, Tesco international market as numbers of stores grown by 80%, Group sale revenue rose by 20% in total, out of this 46% is UK share, 29% is Asia share and 25% is Europe . Although number of stores are increasing in Non UK market (508 stores open only in 2005 out of which 350 were outside the UK) But about 50% of total group profit is contributed by UKs market. (Appendix A) 5.2 Tesco Operational Performance Bearing in mind the current economic situation in the world where financial crises melting down world biggest financial institutions and other well known companies, Tesco has secured a remarkable position with solid growth globally. There is no doubt about the good operational performance over the last there years. Market share of Tesco and other food retail stores are given below. . Ref.12: TNS World panel, (2008) Tescos share of the UK grocery retail market in the 3 months to 20-05-207 was 31.32%, which is 0.03%below as compared 3 months to 22-04-2007. UK market Share: On 20/04/ 2008 consumer spends  £6336887000 in the Tesco which is 31.1% of the total groceries market in the UK but it reduce to 0.3% comparatively from last time in 2007 market shares in the UK which was 31.4%. Sainsburys share also reduced to 0.4% from last period. ASDA and Morrisons market share rise by 0.1% and 0.3% in this period till April 2008.these figures shows that there are limited number of customers so if one will win then second has to lose. However, Tesco group sale hiked to  £51.8bn in 2008 by employing 440,000 plus people worldwide. Tesco has shown extra ordinary non financial performance and good financial performance when there is price war between ASDA and Tesco. And its expecting to rise in 2009 when fresh and easy stores are really successful in USA. Tesco was successful not only in food or other products items but also remain successful in services business in 2008 by gaining demonstrating growth, breadth of the group supported by increasing strength as a leading internet retailer. Dotcom was an excellent form, with sale in Tesco gone up by 30%, telecoms performed well. And joint venture with O2 turned into profit for this first time in 2008. (Ref.13, Financial Statement (2008). Tesco is not only successful company but also considered to be a green company working for society and environment. Charity, donation and gifts amount of  £4.4 million to British Red Cross. Tesco is also playing an important role in local community and has opened cultural centers in all countries of operation. In recent years Tesco spend  £600,000 for new automated recycling machines for customers in some stores in 2006. Following the community plan in 2006 now Tesco have expand this to nine different countries, bearing together a range of community, environmental and health project, accor ding to local market needs, and also have plan to start this programme in the remaining three countries quite soon.(Ref.14, David Reid 2008) 5.3 Sale Performance UK sale are gone up 6.7% and trading profits grew by7.1%- after Tesco start-up cost in the US and on the Tesco direct TO  £2050m, helped by a solid margin performance. Group sale have increased by 11.1% to 51.8bn in 2008.group non food sale rose 12% to  £11.8bn and none remains an important contribution to Tesco. Total international sales grew by 25.9% to  £13.8bn. People are a little bit more interested in value they have become cannier. But there is an opportunity for Finest food because people are eating out less. She added that furniture, tied to the fortunes deteriorating housing market, had been hit by consumer cutbacks, while pushing promotions and value lines, Tesco had a good track record of margins being pretty steady. The chain has set aside  £450m for its step change efficiency savings program coming year, up from  £350m year end 23/02/2008. Stated by (Ref.15, Lucy Neville-Rolfe.2007). In 2007 Tesco has been knocked out from its leading position in neighb ourhood retailing, mean merging between co-op groups which created UKs largest neighbourhood retailer with a share of 7.9%. However, Tesco not only keep its leading position in the UK market but also improved sale revenue from previous years. Clearer picture about the sale performance can be seen in following chart. (Appendix-A) Group revenue (excluding vat) rose 20%, in the rest of Europe revenue increased by 35% and in Asia by 27% from  £4369m to  £5552m during last three years, UK revenue up but not the percentage as in the other areas of operation, which mean Tesco working on the policy of extending and growing overseas and keep maintaining the position of the as leading grocery retailer in the UKs market where revenue increased 16% from  £29990m to  £34874m over last three years. 5.4 Profitability Analysis Group profit before tax is up by 5.7% or by 15.3% if exclude the last year pensions, here it seems to show higher profit in last year when actually gross profit before tax was not healthy and transferred last year pension against current year profit. This profit smoothing has been forbidden by 1AS. However, these results demonstrate the strength of the group. UK trading profit rose 7.1% to  £2050m, with the trading margins at 5.9%, slightly up on 2007 and 2006. (Appendix-B) Profitability analysis shows Tesco has not deteriorated significantly over last three years. All three profitability measures have remained almost same from 2006 to 2008, there are slightly changes in measures but it went down to the previous position in 2008. ROCE numerator represent profit before interest tax and denominator being the sum of net assets.Net debts dividend creditors excluding asset held for resale (net). Shareholders would obviously be concerned about profit reduction which was 6.2% in 2007 and then 5.78% in the 2008 because when operating profit is low obviously profit for distribution to shareholders should be lower. Earnings per share rose to 20.20p in 2006 (26.95p in 2008). Over last three years group revenue increased to 20% and operating profit increased to 22% when inflation rate was 3% to 4% and cost the products kept increasing but after all these was kept growing and had good control on the prices. Operating profit margin decreased .42% in the UK mar ket its mean company operating cost is higher than the last years, advertising cost going out of control due to high level of competition and war for the prices. Tesco direct cost increased while it price of products remained same or cut the prices to win the customers which affect the gross profit margin. Tescos International markets or non UK markets contributed  £701m to trading profit; in Europe sales raised by 23.9% to  £7.8bn which  £6.3bn in 2007. Trading profit increased to  £379m, up 24.8% in Asia and sale rose by 27.2% to  £6.0bn (2007-  £4.7bn) 5.5 Assets Management Efficiency Tesco total net assets have increased by  £1,331m (in 2007) to  £11,902 and noncurrent assets increased by  £3,633m after charging depreciation to tangible assets and amortization to intangible assets of  £992m. Inventory rose 66% to 243000 in 2008 (from  £1464000 in 2006) compared to sale increased by 20% in last three years while inventory as percentage of revenue was 3.7% in 2006, 4.5% in 2007 and 5.1% in 2008 or 4.4% average over last three years. This constant level of inventory shows Tesco policy to keep sufficient inventory of avoiding inventory shortage and enjoying trade discount for bulk purchase. This can be one aspect on the other hand there is huge difference between the percentage of inventory and revenue so, company should reduced the inventory level and pay to supplier earlier to get more discount or invest this sum of money in short term security to get some returns. Inventory holding period reduced by 3 days (23days in2007 and 20 days in 2008), but over three years inventory holding period increased as it was 14 days in 2006. Inventory holding period need to improve, Tesco is well known food retail store for fresh food and management should improve inventory control system new scanning gaps using hand held computers on constant cycle. Tesco also introduced delivery to stores in shelf-ready packaging which will helps in efficient management of stock delivery on time and improve in turnover period. Trade and non trade payable increased 43.2 and cost of sale gone up 20% during last three years showing consistency while creditors as percentage of coast of sale also remained between 14%-16%. This consistency show trade creditors or supplier not been used as free source of finance and paid them on time. In (Ref.16, Tesco Annual report 2008), Tesco is one of three signatories to the UK Government statutory supermarkets code of practice. It takes supplier relationship very seriously and has introduced in the KPI Steering Wheel. L ast confidential supplier survey on Feb 26th showed more than 90% supplier consider Tesco as reliable, trustworthy fair. T Tescos asset turnover y rose 12% to 1.96 times in 2007 (in 2006 1.75 times) and then reduced 20% in 2008 to 1.56time. So, over last three years assets turnover reduced 11%. This result shows assets management efficiency been affected and it can be seen that  £1 worth of assets earn 11% less than the previous years (before 2006). Non-current assets increased 28% over last three years. Another aspect of reducing current assets and increasing non-current assets can be the Tescos expansion to all over the world opening new stores and exploring new markets, which increased company fixed or non -current assets by using current assets like cash. 5.6 Short Term Liquidity Tescos ability to pay its customers or supplier can be analyzed by Current ratio and quick ratio. Indicators of current ratio show companys ability to pay current liabilities. If all the supplier demand for the payment at the same time, is company able to pay all demanded creditor, can be assessed by quick ratio approach where inventory do include as liquid assets. (Appendix-B) Over the last three years Tescos Current ratio increased 17.3% (0.61:1 from 0.52:1); this is mainly increase 60.75% of current assets. Most likely its due to increase in cash, short term investments and inventory which help to increase the liquidity ratios. Inventory was increasing at high percentage as compare to percentage of sale; company increased the level of inventory its either to get more trade discount or to keep secure the business not to run out of stock. Quick ratio increased 15% to 0.38: 1 (0.33: 1 in 2006) but if compare to industry average 0.57:1 in 2006, quick ratio indicate company is facing liquidity problem. Tescos inventory increased 66% while sale by 20% over last three years. So, this extra 46% of inventory should convert into cash as soon as it can be. By converting inventory into cash will not stable liquidity position but also reduce the holding cost which will affect on the company annual profit. Current liabilities increased 3% while current assets increased by 60.75%, here is big difference between current assets and current liability which shows liquidity position of Tesco healthy while by analyzing quick ratio it seems company facing cash problem and Tesco should convert its current assets in more liquid form (cash or cash equivalent form) 5.7 Shareholder Interest Dividend paid increased 26% to 10.90p (from 8.63p) over three years while 13% increased from 2007 and also in line with EPS.non availability of enough cash and other liquid assets also posed no threat to dividend payments. Tesco announced to pay dividend in line with EPS.A final dividend of 7.70pence per ordinary share brings the full year dividend to 10.90 pence (including 2.80 pence interim dividend).an increase of 13.1% in 2008 as compare to 2007 when dividend per ordinary share was 9.64 and 26.3% as compare with dividend of 2006 when dividend per share was 8.83 pence (Appendix-B) Diluted earnings per share grew by 20.8% to 27.02 pence in 2008 which was 22.37 pence in 2007. Price earnings ratio (P/E ratio) decreased to 14.8P in 2008 from 19.9P in 2007. It shows how much an investor is willing to pay for making one pound return. Earnings per share (EPS) increased 33.4%, investors hesitating for further investing as share price remained almost same although dividend on the investment increased but it is arguable that investor can make money just by depositing into bank accounts and get interest from that deposit without having any risk. Some analysts considered a high P/E is due to overpriced share market value. Highest dividend yield was 2.7% in 2008 over the last three years. 5.8 Balance Sheet Analysis Balance sheet net assets have increased by  £1331m to 11902m while non -current assets increased after depreciation and amortization for the amount of  £992m.Gearing measures borrowed funds against equity, which include retained earnings, provisions, premium and ordinary share capital. Tescos gearing increased by 56.93% compared to 45% in 2007 and 49.4% in2008.company ability to pay interest increased by 8% to 10.70 times from last year figure and 23% over the last three years. Financial leverage continues to improve as net finance costs have reduced in last three years due to good credit control management. Tescos finance cost can be reduced more if company use trade creditor as free source of finance. 5.9 Cash Flow Analysis Overall, the group generated a net cash inflow of  £801m, leaving net debt of  £6.2bn at the yearend 2008 which is  £1.3bn more than the last year. (Appendix-B) Tescos cash and cash equivalent position strengthen and increased 72% in 2008 with cash inflow of  £801m but even than I am not confident that company is able to pay current liability by cash. This is in Tescos plan to increase the creditor payment period and reduce the inventory level to the level of sale percentage. Company should also plan to sale noncurrent assets which are not really in use or giving low productivity to generate some cash. Financial and Non-Financial Key Performance Indicators We operate a balanced scorecard approach to managing the business that is known internally within the Group as our Steering Wheel. This unites the Groups resources and in particular focuses the efforts of our Staff around our customers, people, operations, finance and the community. Its prime focus is as a management tool for the company so that there is appropriate balance in the trade-offs that need to be made all the time between the main levers of management such as operations measures, Financial measures or delivery of customer metrics. It therefore enables the business to be operated and monitored on a Balanced basis with due regard to the needs of all stakeholders. For the owners of the business, it is simply based around the philosophy that if we look after customers well and operate efficiently and effectively then shareholders interests will always be best served by the inevitable outputs of those growth in sales, profits and returns. (Ref.17Tesco Annual Report 20 08) Dependency on UK market to 74% of the total group revenue Nearly one third (31%) of UKs total market share Excellent distribution network and new self-service checkouts systems been introduced Tesco is the worlds third largest grocery retailer with operation in 12 international markets and employing over 440,000 people. 6-CONCLUSIONS 6.1 Objective 1-The effect of social and economic responsibility towards all stakeholders on Tescos business performance. Tesco was recognized as an Example of Excellence in the Barclays Environmental Leadership category at the Business in the Community Awards in July 2008. In 2006, as part of Community Plan, Tesco announced a string of long-term targets aimed at minimizing environmental impact and till now going ahead to achieve these targets. (Ref.18, Press Releases, 18 July 2008). Tesco policy to its customers is key factor of success and (Ref.19, Dr. Paul Temporal) states, When Tesco says, Every little helps, it really means it. Its CRM program is certainly one of the best in the world, and customers love it. Tesco has been principally a food retailer in the U.K., in a mature market that has grown little in the last 20 years or so. That Tesco has grown its business at all which is a source of consumer attraction, when the only route to growth is taking market share from competitors. Tesco is fully aware of its social responsibility and really committed to provide best level of service to all stakeholders. And therefore I believe Tescos relation with local community, government, employees and others stake holders is impressive. 6.1 Objective 2- The effect of Non-financial performance in the UK and outside the UK on Tesco. 30,000 new jobs to be created across the group in 2008 and total number of employee reached to 440,000 in 3738 stores. Tescos plan to open over 11.5m square feet of new group space this year, 80% of it outside the UK. Easy and fresh retail stores in USA opened another door of haven for success.  £5bn- plus property funding programme going well.  £200m transaction with the prudential plc completed before the year ended 2008. Strong start in 2008-13% growth in first five weeks Clearly Tesco had a strong growth across the group and produced above the competitors and average industry performance, and therefore I do believe that Tesco deserved to be number one retail grocery store of the UK and third largest in the world 6.3 Objective 3- The effect of financial performance including profitability, cash flow, assets managements and liquidity analysis of Tesco plc. Terry Leahy, Chief Executive, comments: The breadth of the Group and the strength of our business model have enabled Tesco to deliver another year of double-digit sales, profit and earnings per share growth in challenging market conditions. We begin the new financial year confidently with a good start in the UK, excellent progress in our established international markets and promising early performance from our investments in future growth, particularly in the United States, China and Turkey. Clearly, not only was Tesco, profitability, with good control of its costs, but also had a high level of total assets over total liability which present Tescos balance sheet really strong. But if we focus on the quick ratio in liquidity situation it will not be difficult to analyse that it may face cash problem although there is positive movement in 2008. Therefore I believe that close analysis of cash flow statement will reflect cash shortage to Tesco and can be seen from the Tescos quick ratio 38% compare with industry ave rage 57%. 7. RECOMMENDATIONS At a time when others appear to be faltering in their international commitments, Tesco is getting stronger (Ref.20, Rachel Sanderson 2008) Tesco should increase the number of stores in the low-income. Since Tesco strongly highlights its commitment to food access in low-income communities. It should be identified a goal for how many of Tescos store locate in the communities that have low rate of income and they are food insecure. Tesco needs to insure that a substantial percentage of its store-based peoples are full-time employees who are paid a reasonable wage and have affordable quality health benefits. Tesco should establish a positive relationship with labour unions and not seek to influence employee decisions on whether to join the labour unions or not. Tesco should make a mechanism for community input into its operations. Advisory committees or similar community mechanisms for dialogue that can help stores stock products desired by local customers or community. Tesco should establish mechanisms to increase local sourcing for its products and support small local farmers. It could help to make this goal through labels identifying the origin of product like from California or from Arizona. Tesco should design and site new stores according to the principles of green design and smart growth that will helpful to minimize climate change impact. Tesco should achieve green building certification for its stores to demonstrate commitment to sustainable design, and should make information on stores environmental features available to customers and community member. Tesco should accessible to pedestrians, bike riders and public transportation and specially for disable people reasonable measures should in place that make easy their accessibility into stores. The authors view Tescos entrance into the U.S. market as an opportunity to challenge all food retailers to think broadly about the social and environmental impacts of the way they conduc t their businesses. Perhaps Tesco spokesperson Simon Uwins (2007) put it most aptly in describing why he loves retailing, Its so democratic: our customers and our employees will decide whether or not weve been successful in creating a great shopping trip and a great place to work and thats how it should be.1 Tesco currently paying huge amount as interest and foreign exchange rate change, Tesco should deal in local currency or open foreign currency account with the reserve Tescos International expansion in lucrative markets like India, China US would help expand customer base but bearing in mind mature markets like US would not be an easy task as it is the home to WM parents of ASDA. Research needs to be done and lesson learned from Marks Spencer and Sainsburys expansion in US. Tescos inventory holding period should be improved. Use just in time method (where it is possible) or make an arrangement with supplier to build up system according to the demand of the Tescos custo mers. Tescos sale over last three years increased by twenty percent while inventory gone up by sixty six percent. Tesco should reduce the level of inventory to a little up then the sale that will also reduce the holding cost and handling cost. Tesco should transfer some of its fixed assets or less liquid assets to current assets. It improves the level of cash and liquidity ratio. Grocery retail industry average for liquidity ratio is 57% while Tescos liquidity ratio in 2008 was 38% which is below the average industry rate. Tesco should use trade and non trade creditor as free source of finance. Current assets increased 60.75% (mainly inventory) while current liabilities increased by 3% only so, the difference of percentages can be used as short term investment and gain return on it. BIBLOGRAPHY Tesco to create UKs biggest store. Metro 27 November 2006. OLeary, z. (2004). The Essential guide to doing Research. Sage publication Ltd, London. SjSU, (2004). Case Study Approach to Learning, California USA. https://www.sjsu.edu/depts/it/itcdpdf/casestudy.pdf: ( visited 28February 09) Saunders, M. Lewis, P. Research Method for Business students. 3rd addition, Essex: Person education Ltd. Bell, Anthony J. (1995), Doing your Research Project, A guide for first time researchers in education and social science. 2nd Ed: Open University press. Accountancy College, (2008). ACCA, Paper F5, Performance Management, study text book, Holborn, London. Creevy, Jennifer (27 October 2008).Tesco extend supplier payment terms, Retail week. https://www.retail-week.com/Food/2008/10/tesco_extends_nonfood_supplier_payment_terms.html (visited 02 March 2009) Porter, Michael E. (1980). Competitive Strategy, 1st Ed: USA. Rigby, Elizabeth (2008).Tesco Victory after Competition Test Ruling, Financial Time, 29 November 2008. Leahy, Terry (2008), Tesco tells suppliers to cut the price, Tesco Annual Reports 2008, Tescoplc.com, UK. Peston, Robert (2009). BBC News, BBc business news 27, February 2009, UK. TNS, World panel (2008). UK Market share, https://en.wikipedia.org/wiki/Tesco (visited 3rd March 2009 ) Annual financial report, Tesco plc (2008). Growth in Non-food Sector, https://www.tescoreports.com/ (visited 26 February 2009) Reid, David (2008), Non- Executive Chairman. Tesco Annual report 2008, Tescoplc.com. UK. Neville-Rolfe, Lucy(2007). Tescos corporate and legal affairs director. The guardian 2nd August 2007. Tescos Annual Report 2008.Assets management Performance, Page number67 69. Tescos Annual Report 2008.Key Performance indicator, Page number7. Press Releases 18 July 2008. Tesco to get power from straw. Media release, Tesco Plc. https://www.tescoplc.com/plc/corporate_responsibility/news/press_releases/pr2008/2008-07-18/ (Vis ited 14 March 2009) Dr Temporal, Paul. Tesco- the brand experiences everything, Hi-Tech Hi-Touch Branding, January 2001. Sanderson, Rachel (2008). Reuters, Recommendation, from Tesco Plc Annual Reports 2008 https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=AHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=AWTmodLOC=L2-LeftNav-17-FinancialStatementsHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=AHYPERLINK https://stocks.us.reuters.com/stocks/incomeStatement.asp?symbol=TSCO.LWTmodLOC=L2-LeftNav-17-FinancialStatementsperiod=Aperiod=A 16-3-09 Uwins, Simon, marketing a spokesperson, Growth in: USA. https://www.tescoplc.com/plc/ir/pres_results/presentations/p2007/tesconov07/ introfresheasy.pdf (Visited 16 March 2009) All annual reports and Executive Summary has been taken from Tescoplc.com, https://www.tescoplc.com/ (Visited 26 February 2009 and different times during project.) APPENDICES APPENDIX A  2008 2007 2006 3-Year Change  £bn  £bn  £bn Group Sales( £bn) 51,773 46,611 43,137 20% No of Stores 3,751 3,263 2,672 40% Non UK stores 1636 1275 774 111% UK Stores 2,115 1,988 1,898 11% REVENUE EXCLUDING VAT UK 34,874 32,665 29,990 16% Rest of Europe 6,872 5,559 5,095 35% Asia 5,552 4,417 4,369 27% Total 47,298 42,641 39,454 20% OPERATING PROFIT UK 2,097 2,083 1,788 17% Rest of Europe 400 324 263 52% Asia 294 241 229 28% Total 2,791 2,648 2,280 22% OPERATING MARGIN UK 6.0% 6.38% 5.96% 1% Rest of Europe 5.8% 5.83% 5.16% 12% Asia 5.3% 5.46% 5.24% 1% Total 5.9% 6.27% 5.78% 2% Ref.22, Financial statements Tesco for year of 06/07 and 07/08 APPENDIX B  2008  £m 2007  £m 2006  £m 3 years change PROFITABILITY ROCE 12.9% 12.6% 12.8% 1% Operating Profit Margin 5.9% 6.27% 5.78% 2% GP Margin 7.68% 8.12% 7.67% ASSET MANAGEMENT/ EFFICIENCY Inventory Turnover (Days) 20 23 14 42% Inventory as a Percentage of Revenue 5.1% 4.5% 3.7% 38% T. Payable as % of Cost of Revenue 16.7% 15.3% 14.0% 19% T. Asset Turnover (Times) 1.56 1.96 1.75 -11% SHORT TERM LIQUIDITY Current Ratio 0.61 0.56 0.52 17% Quick Ratio/ Acid Test Ratio 0.38 0.32 0.33 15% SHAREHOLDER INTEREST Return on Shareholder Fund 23.5% 25.1% 23.7% -1% Dividend Per Share 10.90p 9.64p 8.63p 26% Earnings Per Share 26.95p 23.61p 20.2p 33% Dividend Cover 2.48 2.32 2.34 6% Price Earnings Ratio 14.8% 19.9% 16.5% -10% Dividend Yield 2.7 2.2 2.6 4% FINANCIAL LEVERAGE Net Gearing 56.93% 45.41% 49.41% 15% Interest Cover (time) 10.7 9.9 8.7 23% Ref.22, Financial statements Tesco for year of 06/07 and 07/08

Plato s Letter From Birmingham Jail - 1521 Words

As a citizen, it is our obligation to serve the government and to follow the laws but to also throw off such government when it is being wrong and unjust. Plato’s dialogue in the Crito shows Socrates’ views on his obligations to the government and in Martin Luther King’s â€Å"Letter from Birmingham Jail,† we see a different set of obligations depicted by King. Socrates strongly believed that his life was to be dedicated to the government under no other circumstances but on the other hand, Martin Luther King respected his obligations as a citizen but did not hesitate to react when the system was unfair and corrupt. In order to give a little hindsight, I will discuss the dialogues between Socrates and Crito in Plato’s â€Å"The Crito†; the scene beings with Crito waking up Socrates’ in his jail cell and questioning how he seemed so calm and peaceful when the time for his execution was approaching at a rapid pace. Socrates, as calm as ever, replies that he is willing to die if it is the will of God. Crito begins to try to convince Socrates to escape from his cell by using different reasoning’s. Crito explains that if he rejected the idea of escaping and was executed, he would lose a loving and loyal friend and he would have to live with the fault of failing to save his life. On a more ethical level, Crito present more compelling cases: firstly, if he had stayed, he would helping his enemies in wronging him unjustly, and would then be acting unjustly himself; and second, that heShow MoreRelated Exploration of Civil Disobedience in Sophocles Antigone, Kings Letter from Birmingham Jail, and Platos From Crito580 Words   |  3 PagesExploration of Civil Disobedience in Sophocles Antigone, Kings Letter from Birmingham Jail, and Platos From Crito Civil disobedience spawns a major and widely debated issue by many who established by well-known intelligent scholars and many examples of civil disobedience become displayed. The acts of civil disobedience can be noted in major works such as Sophocles?s Antigone, King?s ?Letter from Birmingham Jail?, or even from Plato?s ?from Crito?. A specific claim exemplified throughout these worksRead MoreMartin Luther King Jr s Letter From Birmingham Jail1665 Words   |  7 PagesKing Jr. wanted freedom from segregation and Plato wanted freedom from ignorance. They both wanted justice, and knew that it was immoral to take deny another being justice. For example, Plato has said, â€Å"†¦ Injustice is always an evil and dishonor to him who acts unjustly.† This is similar to what Martin Luther King Jr has also stated in â€Å"Letters from Birmingham Jail†, â€Å"We have a moral responsibility to disobey any law that conflicts with the law of god.† (Paragraph 16) Both Plato and King followed similarRead MoreSummary Of People Speak By Howard Zinn1187 Words   |  5 Pages Plato in what we spoke of about, talked about what was three people’s ideas of what they thought justice meant. The first said that justice was â€Å"giving a person what is owed†. The second response was â€Å"doing good to friends and bad to enemies†. The third person said that justice was â€Å"advantage of the stronger. However, Plato’s definition of justice was a â€Å"well ordered soul†. Moreover, Plato had the concept of the â€Å"tripartite soul†, which was one’s desires, emotion, and intellect. Plato believedRead MoreThe True Father Of Western Thought984 Words   |  4 PagesSocrates,the philosopher from ancient Athens and arguably the true father of western thought. He is the son of a stonemason, and a midwife born around 469BC. Socrates was famously odd. In a city that made a cult of physical beauty the phil osopher was disturbingly ugly. Socrates taught that beauty and goodness should be determined by usefulness and fitness of function, rather than by mere appearance or personal feelings of delight. Socrates had a pot-belly, a weird walk, swivelling eyes and hairyRead MoreDr. Martin Luther King Jr1952 Words   |  8 PagesWhen people get incarcerated for a period of time, usually they do a lot of thinking and writing. Dr Martin Luther King Jr was no different. When he got jailed in Birmingham in 1963, he penned Letter from Birmingham Jail, which explained his positioning on his nonviolent approach to fighting for Civil Rights. Along with Plato, Descartes, Mills and Rousseau, Dr Martin Luther King Jr was one of the greatest philosophers in history because his nonviolent approach to fighting for Civil Rights (for

Relationship Marketing Is The Process Of Attracting,...

Relationship marketing is the process of attracting, maintaining and enhancing relationships with key individuals over time. Businesses use one-on-one communication to earn the loyalty of their target audience. One of the most expensive and difficult tasks facing any business is acquiring new customers. Acquiring a new customer can cost five times as much as retaining an existing customer. Research has shown that 2% increase in customer retention can decrease costs by as much as 10% for a business. To retain current customers, businesses engage in relationship marketing strategies to continually attract repeat business. While both current and new customers must be acknowledged and respected, the ultimate goal is to turn every new customer into a returning customer. Relationship marketing is about forming long-term relationships with customers rather than trying to persuade a one-time sale. Relationship marketing tries to encourage customer loyalty by providing excellent products and services. Relationship marketing is different than most normal advertising practices that solely focus on a single transaction. Relationship marketing is usually not linked to a single product or offer. It involves a company refining the way they do business in order to maximise the value of that relationship for the customer. CRM Stages Customer relationship management plays a vital part in a typical business s marketing system. CRM is a process of gathering and analysing customerShow MoreRelatedEssay History Marketing1353 Words   |  6 Pagescontext/socio-economic situation in which modern marketing emerged and thrived    Part b) You should then discuss in what ways this context has changed and how the marketing discipline has changed amp; needs to change further in order to adapt to the current and future needs of firms, consumers/customers; perhaps even alluding to society in general. According to Marketing Association (1985, as cited D. Hall and R. Jones 2010: 48) Marketing is the process of planning and executing the conception, pricingRead MoreMarketing and Monsanto1349 Words   |  6 PagesSummary: Monsanto Co. is an innovative biotechnology company that is currently the world’s largest seed company. Since its inception in 1901, Monsanto has continually reinvented itself to realize growth opportunities in a wide spectrum of marketing environments. In 1981, a shift in strategic focus towards biotechnology has propelled the company to $11.7 billion in annual sales with over 20,000 people in 160 countries. As the world faces a growing population and declining natural resourcesRead MoreRole of Crm in Telecom Sector 5340 Words   |  22 Pagestelecom sector the Introduction part. This report also contains the basic marketing strategies used by various telecom service providers.In today’s world of cutthroat competition, it is very essential to not only exist but also to excel in the market. Today’s market is more more complex so, to survive in the market the companies not only have to satisfy its customers but also delight them. The objective of many marketing strategies has been building the customer’s commitment to a brand or a dealerRead Moreâ€Å"Role of Crm in Telecom Sector†5349 Words   |  22 Pagestelecom sector the Introduction part. This report also contains the basic marketing strategies used by various telecom service providers.In today’s world of cutthroat competition, it is very essential to not only exist but also to excel in the market. Today’s market is more more complex so, to survive in the market the companies not only have to satisfy its customers but also delight them. The objective of many marketing strategies has been building the customer’s commitment to a brand or a dealerRead MoreThe Impact Of Customer Relationship Management On Customer Retention9371 Words   |  38 Pages THE IMPACT OF CUSTOMER RELATIONSHIP MANAGEMENT ON CUSTOMER RETENTION IN BANKS A Thesis Submitted to the Superior University In Partial Fulfillment of the Requirements for the Degree of Bachelors in Business Administration Submitted by Usman Hassan Rahmani BBA- 7145 SUPERIOR UNIVERSITY LAHORE â€Æ' DECLARATION OF ORIGINALITY I hereby declare that this project is entirely my own work and that any additional sources of information have been duly cited. I hereby declare that any Internet sources publishedRead MoreAn Astute And Result Oriented Professional Essay1178 Words   |  5 Pages PROFILE: †¢ An astute result oriented professional with 3+ Years of exhaustive field experience in Business Development, Sales Marketing, Product Promotion, Distribution Management Team Management. †¢ 1+ years of established focused expedition on online student consultation. †¢ Accomplished proficiency in expanding the business operations and sales marketing activities in the South Division of TamilNadu for Tata Motors †¢ Proven Skills in driving revenue growth and proactively conduct opportunityRead MoreRelationship Marketing Approach and Strategiesin Retailing3357 Words   |  14 Pages RELATIONSHIP MARKETING APPROACH AND STRATEGIES IN RETAILING R.BRINDHA Ph.D Research Scholar, ABSTRACT Retailers face a dynamic and competitive retail environment. With increased globalization, market saturation and increased competitiveness through mergers and acquisitions, retailers are seeking competitive advantages by better managing customer relations. In today’s high tech age, where the marketing concepts and tools have undergone major changes with the introduction of e-commerceRead MoreRelationship Marketing Is Different From Any Other Form Of Marketing Essay2138 Words   |  9 PagesIntroduction For my project I will explain what relationship marketing is. Relationship marketing is different from any other form of marketing. The reason for this is that relationship marketing identifies the long term value of customer relationships and relationship marketing extends communication beyond intrusive advertising and sales promotional messages. Relationship marketing is an arrangement where both the buyer and seller have an interest in providing a more satisfying exchange. Also IRead MoreAsda. Relationship Marketing and Loyalty2088 Words   |  9 Pageslong term relationship association, characterised by purposeful co-operation and mutual dependence on the development of social, as well as structural bonds with consumer†. Many marketers agree that by reducing customer’s to competitors defection by only 5 per cent, companies can improve profits by anywhere from 25 per cent to 95 per cent. There is no question this will be a great advantage and could benefit any retailer. It is for this very reason why consumer’s relationship marketing and usingRead MoreChallenges Faced by Management1681 Words   |  7 Pagesto day problems. Every individual has his own characteristic to portray. Variations of people should take into consideration in managing them. Factors like timing, place, and situation would work well for the managers. With the fast changing world, we need to cope up with things that could hinder the development of one’s managerial skills. Here are the most common problems in management and how to solve them. Employee motivation:   Motivating the employees and maintaining their morale is essential

The leadership style of Zuckerberg-Free-Samples-Myassignmenthelp

Question: Provide a comprehensive explanation of the role of leadership. Answer: Although there are a number of successful leaders who have created history in their own domain, I believe Mark Zuckerberg is one of the most influential and one of the wealthiest men in the world. Zuckerberg was born in the year of 1984 in New York, White Plains. His family consisted of his father, a dentist; his mother, a psychiatrist and three of his sisters. He hails from an Ivy League college, and unequivocally was a dropout. From a very early age he started to code in a brilliant manner, Zuckerbergs father taught him BASIC and then software developer David Newman was hired to teach him privately. Newman declared Zuckerberg as a prodigy and according to him it was quite difficult to stay ahead of Zuckerberg. Zuckerberg completed his graduation from Mercy College and was coding all through his teenage years vigorously. He almost created the primitive version of AOL messenger that allowed his home computers and the computers at his fathers office to communicate with each other. Thi s essay is going to focus on the leadership style that Zuckerberg follows which has made his company Facebook reach the position it is today. A good leader is one who has the ability to motivate his employees for better work and look after their well being too (DuBrin, 2016). Looking at the leader, Mark Zuckerberg, I believe that it can be stated that he possesses a good number of managerial qualities. I believe that his leadership style can be stated to be transactional. He has learnt his lessons from the mistakes he committed, he has successfully taken risks and he has helped his company grow in the way of a leader who is almost visionary. At this very young age, Zuckerberg has, with his own merits, determination and guidance from his mentors secured a position among the top ten CEOs across the globe. He has to his credit building the most popular social networking site, named Facebook. The beginning of Facebook had been in Zuckerbergs university, Harvard. He created a program called CourseMatch back at college that helped the students to choose their respective classes and also the study groups correctly. And not only this, even during his college years he created a site called Facemash that used the Harvard students database to collect the pictures and allowed any student to choose the best looking picture and rate them accordingly. The very next day the college had to pull the site down due to its incredibly heavy traffic. This was almost a very crude prototype of the Facebook that he started to code after a year. Initially it was known as the facebook, but slowly and gradually things started taking shape and the facebook transformed to the modern day Facebook. The journey of this transformation had definitely been not a smooth one and it was Zuckerbergs leadership skills from the very beginning that helped Facebook to survive in the long run. The creation of Fac emash shows that Zuckerberg had been creative and innovative from his very early age. Transactional leaders are the kind of leaders who emphasize on maintaining the proper workflow of the operations they are dealing with. Leaders who fall in this category generally get their works done by motivating the employees with tangible and intangible rewards and also by encouraging them to perform better (DuBrin, 2016). The transactional leaders get themselves satisfied by completing targets on a regular basis. They take short term goals and fulfill it and then again take the next one (DuBrin, 2016). Their main strategy is to motivating the employees working for them which they do by offering incentives and maintaining a high incentive scheme as well as provide other opportunities for professional and personal growth (DuBrin, 2016). I believe that Mark Zuckerberg has all the mentioned qualities of a transactional leader as his working style matches the requirements that define transactional leadership qualities. He is known to motivate his employees by giving out a clear pictu re of the future of the company. Besides giving out plans for the growth of the company he also gives a brief on how to work in order to achieve the goals. His disruptive and innovative ideas, his courage and confidence and his energy for work make him one of those leaders whom the employees are happy to follow, which ultimately leads to the growth of the company. The leadership style of Zuckerberg can be better understood from the environment of the Facebook headquarters which is situated in California, MenloPark. Zuckerberg, being a transactional leader has kept the platform for an open discussion among the employees and users on every Friday. On this platform the founder Facebook himself shares his ideas and thoughts about the growth and aims of the company. The ambience at the Facebook office remains quite employee friendly given the leadership style of the CEO of the company. The employees get regular incentives, salary hikes, extra rewards for better performance as well as rewards that are more personal such as celebrating ones birthday or honoring some personal achievement. The office of Facebook offers employees with a high quality eating space and also provides them with facilities like doctors, therapists and chiropractors. It has also got yearly recreational events planned for the mental well being of the employees so that the emplo yees can work with fresh mind and vigor. Zuckerberg following the qualities of a transactional leader allows the employees of the company to choose the projects they feel most interested to work in. This method of leading the team of workers give them a sense of confidence as well as importance which make them work better and in a more concentrated manner. I believe that the transformational leadership style that Zuckerberg follows has helps and continues to help Facebook towards a promising and brighter future. He as a leader has flourished with every successful step that Facebook took and continues to do so. His leadership style can also be defined in terms of aggressive, innovative, demanding and encouraging. He allows his employees to have debates which are friendly and also encourages them to put forward any ideas they have for the betterment of the company. I believe that these very qualities make him a leader who can be looked up to. Reference: DuBrin, A. (2016). Research Findings, Practice,