Case Study At T And T Mobile Merger Essay - 791 Words

Case: ATT and T-Mobile Merger †¢ Question 4 : Should the merger be approved? The ATT and T-Mobile merger should not be approved, as the merger may cause more harm than benefits to consumers and for the related market. A horizontal practice is one that involves mergers and activities in the same industry. A horizontal merger comes under Section 7 of Clayton Act and under Section 2 of Sherman Act, as it would create a monopoly. As ATT and T-Mobile both operates in same industry, the merger is clearly horizontal. The concern with horizontal arrangements is that it may increase market power, leading to lessened competition and higher prices. Many of interest groups(like other companies like SprintNextel, the Competitive Carriers Association, Cellular South, Leap Wireless, MetroPCS, Computer and Communications Industry Association, Yankee Group, group of seven NGOs including Consumer unions , National Hispanic Media Coalition, Future of Music Coalition, etc.) opposed. Most of them expressed concerns that the merger will stifle the competition, may result in increa sed prices for consumers, will reduce innovation and technological progress in the field, and it will leave with fewer options for consumers to shop around for cell phone plans. The decrease in consumer choice happens as the merger will reduce the number of mobile wireless carrier who has decent nationwide coverage. 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The Crucible An Allegory for the McCarthy Era Essay

The Crucible was written as an allegory for the McCarthy era in 1953 by Arthur Miller; an American playwright. The McCarthy era was epitomized by the fear of Communism that Senator McCarthy whipped up. He fostered a witch hunt against anyone who disagreed with his views. Miller’s intention was that the play would be a parody of his own context (himself) with John Proctor quite evidently being a reflection of Miller. The witches in the play symbolized communism. A ‘Crucible’ can mean both; a container for melting or purifying metals by heat and a severe test. Miller describes the village of Salem as ‘the container’ and its contents; the God-fearing residents of Salem along with their emotions. This ‘purification process’ is exactly what†¦show more content†¦John Proctor’s affair affects his conscience and therefore influences his character. â€Å"He blushes for his sin†. Arthur Miller is concerned with the question o f conscience being an organic part of an individual or a collective conscience of a community. The conscience of the court is repressive and hypocritical and John Proctor rejects it in favour if his own vision of a decent personal conduct. Playing a major part in the play, fear is the main reason why the village of Salem dealt with the witchcraft accusations so badly. During the ‘trials’ in Salem no evidence was actually found to convict anyone of committing witchcraft. Alternatively, the word of a group of young girls was taken as the truth because people did not dare to question those who had ‘encountered the devil’. It was their fear that prevented them from doing so. Furthermore, John Proctor lives in fear; of Abigail Williams. His is forever under apprehension that she could taint his good name after his affair with her. In the Crucible, the centre of evil is Abigail Williams the niece of Parris. She has an affair with John Proctor while working for the Proctors, lies many times and seems to take pleasure in people being sent to hang. All those Abigail accuses are innocent, yet she manipulates many into believing her actions are good. The Crucible was set in Salem, Massachusetts in the United States of America. The play is based upon the Salem with trials of the lateShow MoreRelatedEssay On The Red Scare Allegory For The Crucible878 Words   |  4 PagesRed scare allegory for the crucible The salem witch hunts and the Red Scare caused big problems and death in the U.S. In 1950 everyone was scared that communism would spread to the united states and McCarthy wanted to get rid of all communist in the united states but instead accused innocent citizens. In salem 1692 multiple girls were out in the woods dancing and were thought to be possessed and working with the devil. Girls accused many citizens in salem claiming they were witches and causingRead MoreArthur Millers The Crucible : An Allegory For Mccarthyism750 Words   |  3 Pagesand needs.† Arthur Miller’s â€Å"The Crucible† is an allegory for McCarthyism during the red scare due to the identical proceeds that divulge within not only The Crucible’s plot but also history, such as the accused confessing to a crime they did not commit to save their life, people rising to power by taking advantage of others, and accusations having credibility with no affirmation. â€Å"The Crucible† was published in 1952 just two years after the start of the McCarthy era. Faultless civilian and politiciansRead MoreAllegory For Mccarthyism In Arthur Millers The Crucible767 Words   |  4 PagesJoseph McCarthy was a corrupt politician in the 1950s who was credited with starting the red scare. His rise to power solely involved ruining others reputation and career by accusing them to have communist ideals, all of his accusations had little to no evidence, but people were forced to confess or they would be prosecuted. Arthur Miller’s â€Å"The Crucible† is an allegory for McCarthyism during the red scare due to the near parallel events that confide in the plot and history such the accused confessingRead MoreAnarthyism And Mccarthyism In Arthur Millers The Crucible774 Words   |  4 PagesAs America entered the post-war era after World War II, there was still an ongoing sense of paranoia throughout the country. In the mid-nineteen hundreds, McCarthyism, initiated by Joseph McCarthy’s accusation of 205 Communists and the use of unjust methods to hunt Communists, arose. As this era emerged, Arthur Miller’s play The Crucible, which highlighted and dramaticized the scandal of the 1692 Salem witch trials, gained popularity and opened on Broadway. 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However, McCarthyism is similar to The Crucible because of those who wereRead MoreThe Crucible By Arthur Miller Essay1552 Words   |  7 PagesTrust, Honor and Faith is what is questioned in Arthur Miller â€Å"The Crucible†. The Crucible is about the Salem witch trials. Several young girls claim to be afflicted by witchcraft. The afflicted girls accuse people in the town of witchcraft, often choosing victims who they or their families dislike. The main antagonist Abigail Williams with the other girl’s accusations resulted in the arrests and death of many people in the community of Salem. Arthur Miller wrote this play during the time of theRead More The Importance of Context in The Crucible by Aurthur Miller Essay1336 Words   |  6 Pagestext, which allows enrichment of reading and understanding that can be gained from a text. The Crucible by Arthur Miller is a play which is a fitting example of this statement. 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Social Media And Urban Crime Big Data - 898 Words

The author presents only the positive side of â€Å"Big-Data†; with a definite confirmation bias and a possible intersecting financial conflict of interest considering he gets paid to write articles for the WSJ. We are directed to a â€Å"Surveillance State† conclusion, where businesses, universities and governments are monitoring consumers, clients, students and citizens. As evidence, we are presented with an example of urban crime being isolated to blocks and individual buildings, potential risks from people struggling with suicidal tendencies being monitored via social media and â€Å"diminished movement† (cell phone tracking), while Israelis use cell phones for tracking citizens movements. Summary of social media and urban crime Big-Data - Emily P. One of the things Big-Data has brought to us and made available is social media. 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Free sample solution of Next PLC Business of Clothing

Question: Describe about the Next PLC. is in the business of clothing, home furnishing and accessories business? Answer: Introduction Next PLC. is in the business of clothing, home furnishing and accessories business. Next has more than 500 stores in the UK and Eire and more. The company also has more than 200 stores in more than 40 countries (NextPLC.co.uk, 2016). Financial position of Next PLC. has been analyzed in following two sections. Financial statements of the last two years have been considered to understand the change in financial structure, net income and cash flow movement. Ratio analysis of the last two years includes analysis of liquidity ratio, solvency ratio, coverage ratio and efficiency ratio. Further, a section discusses limitations of financial statement analysis and ratio analysis (NextPLC.co.uk, 2016). Financial Performance Trend Analysis Sales: Next PLC. has three business lines. Next Retail manages the business in the United Kingdom and Eire through more than 500 stores. Next Directory which is a home shopping division and Next International Retail which manages business overseas (Robinson, 2009). Next Retail and Next Directory contribute more than 95% of sales since last 10 years, so profitability depends on these two business lines majorly. Though primary business line of the company is a clothing; we observe that Next Directory is the growth driver for Next PLC. The reason is revenue from Next Retail has shown sluggish growth over last 10 years. Revenue from retail in 2015 is 2,348 million GPB vs. 2,217 million GBP in 2006, which is hardly 6% growth. Revenue from Next Directory grew more than twofold over last 10 years. Next Directory had revenue of 685 million GBP in 2006 and the business reported revenue of 1,541 million GBP in 2015, which is 125% of the increase. Next Retail which contributed over 70% of revenue in 2006, contributes 58.3% in 2015 while Next Directory which contributed 22.1% in 2006, now contributes 38.3% in revenue (Stickney, 1990). Revenue from Next International Retail is 139 million GBP in 2015 which accounts for only 3.5% of revenue. Also, revenue from Next International Retail is declining over the long-term so for analysis purpose the business line is not much significant (Muro, 1998). Profit: Historical data show that underlying group profits improved by 6.36% and 7.93%; before taxes and after taxes respectively over last ten years. As a revenue of Next Directory has shown impressive growth; profit from the business line improved by 16.28% on an average year on year from 2006 to 2015. However, profit from Next Retail improved by 1.73% on an average. The Performance of financial year 2015 compared to 2014 Income statement: In 2015 the company reported growth of 7.2% in Total group sales, growth of 12.5% in group profit and 14.7% of growth in Earnings per share. The effect of good result also reflected in the share price. Share price increased by 13.9% in a year as on 24th January, 2015. The number of retail stores declined by 0.4%, while retail square foot space increased by 4.7%. Revenue per retail store improved from 4.14 million GBP in 2014 to 4.35 million GBP in 2015. Similarly, profit per retail store improved from 0.64 million GBP to 0.71 million GBP in 2015 (Green, n.d.). Balance Sheet: Total asset improved by 6.4% in 2015. The net increase in Total asset is 137 million GBP. The net growth in current asset is 10.1% which is equivalent to 148 million GBP. Property, Plant and Equipment witnessed marginal decline of 1.2%, which means the company has not added floor place in 2015. Long-term debt increased by 4.6%, which is equivalent to 37 million GBP. Though common stock declined by 6.43%, total equity improved by 12.6% (Gibson and Frishkoff, 1986). Cash flow Statement: Net cash flow from operating activities is most important in the cash flow statement as it indicates cash generated from operating activities. Other two activities are supported to the business operations. Net cash flow from operating activities improved by 20.8%, which is a positive indicator of growth. Cash used in capital expenditure increased by 2.9%, which was not very significant. Net cash used in financing activities increased by 71% due to buy back of stock worth about 173 million GBP (Fridson and Alvarez, 2002). Ratio Analysis Liquidity Ratios Current Ratio: Current ratio shows the companys ability to pay short-term liabilities. Basically, it shows the companys ability to pay its due to cash level and other liquid assets. The current ratio of the firm is 1.82 and 1.76 in 2015 and 2014 respectively. Its desirable that the current ratio is higher than 1 to meet short term obligations without raising debt. Current ratio increased from 1.76 to 1.82 which shows a firms ability to pay its due improved in one year (Bull, 2008). Quick Ratio: Quick ratio is same as current ratio except it doesnt consider inventory as the most liquid asset. Quick ratio of the firm is 1.35 and 1.30 in 2015 and 2014 respectively. It shows that firm is highly capable to meet short term liabilities with cash and other liquid assets. Also, increase in quick ratio indicates that the companys ability to meet short-term obligations improved in 2015. Solvency Ratio Solvency ratios measure the companys ability to meet long-term debt (Dake, 1972). Debt to Equity: Debt to equity ratio indicates proportion of long-term debt to total equity. If the ratio is higher than 1, it shows the major portion of the financing comes through the long-term debt. If ratio is lower than 1, it shows equity financing forms a major portion of the capital structure. Debt to equity ratio is 2.60 and 2.80 in 2015 and 2014. It shows for every pound contribution from equity long term debt is about 2.60 GBP. Decline in ratio shows financing from the long-term debt decreased in 2015. Debt ratio: Debt ratio shows financing of total assets through short term and long term debt. Higher debt ratio increases default risk and is considered as risky. A debt ratio of the company is 0.37 in 2015 and 2014 as well. There is no change is in proportion of financing through debt instrument. Profitability ratios Gross Margin: Gross margin shows the companys profitability after covering costs of goods sold. The company has maintained steady gross margin in both the years. Gross margin has been 33.16% and 33.59% in 2014 and 2015 respectively (Gupta, 1983). Operating margin shows the companys profitability after covering operating expenses and cost of goods sold. The operating margin is 19.33% and 20.30% in 2014 and 2015 respectively. The company has maintained steady operating margin and gross margin over two years with marginal improvement in both the margins (Ketz, Doogar and Jensen, 1990). Net Margin: Net margin shows the companys overall profitability. Net margin is the ratio of net profit to net revenue. The company has a net margin of 14.79% in 2014 which increased to 15.87% in 2015. Next PLC. had exceptional gain (other than core business activities) of 12.6 million GBP in 2015 which contributed to higher net margin in 2015. Broadly, net profit margin of 15% is very healthy and if the company can maintain such margin the growth will be very fast. Coverage Ratio: Interest coverage ratio: Interest time coverage ratio shows the companys ability to pay interest obligation with earnings before tax and interest. The higher ratio indicates the company is better off to meet interest obligation and can raise further debt if required. Interest coverage ratio is 25.57 in 2015 and 26.48 in 2016; it shows Next PLC. has earned (before tax and interest) almost 25 times of interest obligation (Rist and Pizzica, n.d.). Based on the interest coverage ratio, its evident that the company is highly solvent to pay interest obligation. Efficiency Ratios: Efficiency ratios show how efficiently the company uses its resources. Asset Turnover ratio and Inventory Turnover ratio measure the efficiency of the company (Tamari, 1978). Asset Turnover Ratio: Asset turnover ratio indicates how many times revenue generated over the total assets. The higher asset turnover ratio shows the ability to use resources more efficiently. Asset turnover ratio is 1.75 in 2015 and 1.74 in 2014. Trend of Asset turnover ratio shows the company has maintained the efficiency in last two years. Inventory Turnover Ratio: Inventory turnover ratio shows revenue generated over the inventory level. Higher inventory turnover ratio is desirable as it requires less inventory on hand to generate same revenue levels. The ratio has been 9.59 and 9.69 in 2015 and 2014 respectively. Though trend shows marginal decline, but its not significant to draw any conclusion. Moreover, the ratio of 9.59 and 9.69 is very healthy. Limitations Limitation of financial statement analysis We have seen growth in sales and net income of Next PLC. over the years and last two years as well. The historical performance of the company doesnt guarantee the performance of future. Though financials of the company improve over the years, it doesnt reveal information about the quality of management and quality of customers. Financial statements dont give information regarding customer churn rate and customer retention ratio over the years (Coveringcredit.com, 2016). Financial statements dont give any information regarding the position of the company. From financial statement, we cant estimate the market share of the Next PLC. in operating industry. It also doesnt reveal any information regarding the companys competitive strategy, new product development, marketing strategy, research and development, pricing strategy and future prospects (Coveringcredit.com, 2016). Financial statements are easy to manipulate and without reading the footnotes, its very difficult to understand the underlying risk of the company. Financial statements may be audited or unaudited. The unaudited financial statement may not follow the General Accepted Accounting Standards, which may lead to serious problems in evaluation. Financial statements can be altered by certain provision in reserves and other accounting standards. Its possible that the company may curb short term expenses at the cost of long-term expenditure in order to boost up the profits for the short term results. Unaudited results may be misleading, erroneous or inaccurate, which may be deliberate too. So, its completely unreliable to rely to unaudited result to analyze the companys financial health. When unaudited results are not reliable, audited results are also not reliable due to possibility of manipulation at a certain degree. Limitation of financial ratios analysis Large companies operate businesses in different sectors and also in different geographies. Its difficult to interpret the common ratio for a group of business operating in different industries and geographies. Inflation may hit the company differently. In such cases, the balance sheet may distort at larger extent. Its difficult to compare ratios of companies of different ages. Seasonal factors may affect the ratio analysis. Understanding the seasonal factors may help to find a meaningful interpretation from ratios. For example, sales of clothes remain high in discount period or the end of the year (Investopedia, 2008). Different accounting standards may affect the financial statements differently. Hence, comparison of financial rations between two years or between companies become irrelevant. Its difficult to generalize the interpretation. For example, a high cash ratio indicates higher liquidity, but it also shows the company which has been in higher growth historically and has higher cash level may command a lower valuation (Investopedia, 2008). Generally, the company has some good and some bad ratios. Based on that its difficult to judge whether the company is in good or weak condition. Appendix 2015 2014 Current Ratio = 1,616/887 = 1,468/835 Current Ratio 1.82 1.76 Quick Ratio = 1,199/887 = 1,082/835 Quick Ratio 1.35 1.30 Debt to Equity = 838/322 = 801/286 Debt to Equity 2.60 2.80 Debt ratio = 841/2,282 = 804/2,145 Debt ratio 0.37 0.37 Gross Margin = 1,343/4,000 = 1,240/3,740 Gross Margin 33.59% 33.16% Operating Margin = 812/4,000 = 723/3,740 Operating Margin 20.30% 19.33% Net Margin = 635/4,000 = 553/3,740 Net Margin 15.87% 14.79% Interest Coverage = 813/31 = 724/28 Interest Coverage 26.48 25.57 Asset Turnover = 4,000/2,282 = 3,740/2,145 Asset Turnover 1.75 1.74 Inventory Turnover = 4,000/417 = 3,740/386 Inventory Turnover 9.59 9.69 References Bernstein, L. (1978). Financial statement analysis. Homewood, Ill.: R.D. Irwin. Bloomberg.com, (2016). NXT:London Stock Quote - Next PLC. [online] Available at: https://www.bloomberg.com/quote/NXT:LN [Accessed 5 Feb. 2016]. Bull, R. (2008). Financial ratios. Oxford: CIMA. Coveringcredit.com, (2016). Some of the Many Limitations of Financial Statement Analysis. [online] Available at: https://www.coveringcredit.com/business_credit_articles/Credit_Risk_Analysis/art300.shtml [Accessed 5 Feb. 2016]. Dake, J. (1972). Comment: An Empirical Test of Financial Ratio Analysis. The Journal of Financial and Quantitative Analysis, 7(2), p.1495. Foster, G. (1986). Financial statement analysis. Englewood Cliffs, N.J.: Prentice-Hall. Foulke, R. (1968). Practical financial statement analysis. New York: McGraw-Hill. Fridson, M. and Alvarez, F. (2002). Financial statement analysis. New York: John Wiley Sons. Gibson, C. and Frishkoff, P. (1986). Financial statement analysis. Boston, Mass.: Kent Pub. Co. Green, J. (n.d.). Financial Statement Analysis and Equity Valuation. SSRN Electronic Journal. Gupta, L. (1983). Financial ratios for monitoring corporate sickness. Delhi: Oxford University Press. Investopedia, (2008). Uses and Limitations of Financial Ratios - CFA Level 1 | Investopedia. [online] Available at: https://www.investopedia.com/exam-guide/cfa-level-1/financial-ratios/uses-limitations-ratios.asp [Accessed 5 Feb. 2016]. Ketz, J., Doogar, R. and Jensen, D. (1990). A cross-industry analysis of financial ratios. New York: Quorum Books. Lev, B. (1974). Financial statement analysis. Englewood Cliffs, N.J.: Prentice-Hall. Markets.ft.com, (2016). Next PLC, NXT:LSE financials - FT.com. [online] Available at: https://markets.ft.com/research/Markets/Tearsheets/Financials?s=nxt:lse [Accessed 5 Feb. 2016]. Muro, V. (1998). Handbook of financial analysis for corporate managers. New York: AMACOM. NextPLC.co.uk, (2016). Home. [online] Available at: https://www.nextPLC.co.uk/ [Accessed 5 Feb. 2016]. Rist, M. and Pizzica, A. (n.d.). Financial ratios for executives. Robinson, T. (2009). International financial statement analysis. Hoboken, N.J.: John Wiley Sons. Stickney, C. (1990). Financial statement analysis. San Diego: Harcourt Brace Jovanovich. Tamari, M. (1978). Financial ratios. London: P. Elek. Tyran, M. (1986). Handbook of business and financial ratios. Englewood Cliffs, N.J.: Prentice-Hall. Wiehle, U. (2006). 100 IFRS financial ratios. Wiesbaden: Cometis. Wild, J., Bernstein, L. and Subramanyam, K. (2001). Financial statement analysis. Boston, Mass.: McGraw-Hill.

Information Systems for Enterprise Integration †Free Samples

Question: Discuss about the Information Systems for Enterprise Integration. Answer: Introduction Enterprise Information System (EIS) refers to the particular information system that helps the business organizations to bring improvements in the functions of business processes with the help of integration. In an organization, EIS has both informational and operational functions. The implementation of EIS helps the organizations to bring efficiency in their business processes[1]. The major difference between inwardly and outwardly organized systems is that inwardly system assists in receiving the organizational documents and applications while outwardly system helps in the process of follow ups of those documents and applications. From the above point, it can be said that inwardly organized systems function is to prepare report about total receivable application and outwardly organized systems function is to prepare report regarding total follow ups. Both help the companies in the process of data backup[2]. Financial and Non-financial Benefits There are both financial and non-financial benefits of the adoption of EIS for Prime Devices (PD). The major financial benefit that PD can get from the adoption of EIS is the reduction of manufacturing cost of the company and this process leads to increased revenue and profitability. The major non-financial benefit is that PD will be able to increase the efficiency of the whole manufacturing operations. It will provide PD with competitive advantage[3]. Reduction of the selling price of PD will be a major parameter for the implementation of EIS in PD. In case EIS helps in cost reduction, the selling price of the company is bound to be decreased. If not, then the implementation needs to be considered as unsuccessful. The next parameter is timely coordination among procurement, assembling and others. In case, coordination can be seen among these factors, then the implementation needs to be considered successful. The implementation of EIS will reduce the daily accounting tasks undertaken by the accounts of PD and this process will lead to the routinization of accounting works in the company. The implementation of EIS system in PD will provide the organizational accountants with speedy accounting information so that they do not have to wait for them. This will increase the efficiency of the whole accounting process of PD[4]. First, the implementation and maintenance costs of EIS are huge for the companies as it is a computerized system. This can become a major constrain PD for EIS implementation. Second, the concern of public regarding environment-sensitive companies can become a hurdle for PD in EIS implementation as the EIS needs to be implemented as per environmental management accounting processes. In addition, skill and knowledge can be constrains as the running of EIS requires specific skills and knowledge[5]. Mechanism to Overcome Constrains in PD Before the implementation of EIS, PD needs to ensure that there is sufficient fund to support the implementation of EIS as the lack of funds can hamper the implementation process of EIS in PD. After that, at the time of EIS implementation, PD needs to ensure the fact that the implementation process complies with the policies of environmental management accounting policies. These are the mechanisms that PD needs to take for effective EIS implementation[6]. According to above discussion, it is recommended that PD should adopt EIS for their business operations as it will reduce the cost of production, selling price, will provide competitive advantage and others. Thus, PD needs to implement both inwardly and outwardly EIS system for their business operations. Both types of EIS need to be implemented as they will ensure the process to receive all the business documents as well as the process to follow up. In addition, they will help in cost reduction and will bring efficiency. Environmental management accounting takes into account the generation and analysis of both financial and non-financial information to support internal environmental management processes. Thus, it is needed for PD to follow and adopt all the policies and principles of environmental management accounting in order to make the company more environments friendly. Conclusion From the above discussion, it can be concluded that EIS has a big role to play in the business operations of PD. It will help PD to reduce the costs as well as the selling price. There are also many other benefits of EIS. Thus, it is needed for PD to adopt EIS. In addition, PD needs to adopt the policies of environmental management accounting to make the company more environments friendly. References Bulyshev, Alexander E., et al. "Enterprise Information Systems." Laudon, Kenneth C., and Jane P. Laudon.Management information system. Pearson Education India, 2016. Motiwalla, Luvai F., and Jeffrey Thompson.Enterprise systems for management. Boston, MA: Pearson, 2012. Panetto, Herv, and Joe Cecil. "Information systems for enterprise integration, interoperability and networking: theory and applications." (2013): 1-6. Varajao, Joao. "Enterprise information systems."The Learning Organization20.6 (2013). Ward, Keith.Strategic management accounting. Routledge, 2012.