The Demise of Woolworths

The Demise of Woolworths Research Proposal Title: The Demise of Woolworths Abstract: This report focuses on the reasons for the downfall of nearly century old retail Woolworths. This report will deals with the financial aspects of this company which led to such a tragic end. The financial aspects of Woolworths will be evaluated with the help of Key Financial Indicators and Ratios which will be taken into consideration while arriving at a conclusion. The introduction to Key Financial Indicators and Ratios and their calculations respectively, will be demonstrated as the research progresses. Methodology and Analysis of this research will depend on these Key Financial Indicators and Ratios of Woolworths and then the conclusion of this report will be reached. Introduction: An introduction to Key Financial Indicators and Ratios. Below are a few Indicators and ratios on which any companys finances are evaluated to conclude how healthy a business or a company is. Balance Sheet: ‘ It is a financial statement that lists the assets, liabilities and equity of a company at a specific point in time and is used to calculate the net worth of a business. (Source: http://www.entrepreneur.com/encyclopedia/term/82186.html) Profit Loss Statement: ‘The purpose of the Profit Loss Statement is to present the income and expense items for a business, grouped according to the nature of the transaction, in a manner that allows the user to easily review the income, expenditure and profitability of the business. (Source: http://www.sasb.wa.gov.au) Key financial indicators and ratio are determined through the information contained in both Balance sheet and Profit Loss account. The Key Financial Indicators are: †¢ Net Turnover: This is the Net turnover against investment. †¢ Net Operating Profit or Loss, as a percentage of net turnover †¢ Profit or Loss before Taxes as a percentage of net turnover †¢ Return on Equity †¢ Return on assets †¢ Equity to assets †¢ Return on Investment †¢ Return on Capital Equity †¢ Net Gearing Gearing Ratios (Source: http://www.rahoitustarkastus) Background: An Introduction to Woolworths: Frank Woolworths started a retail store in Britain 99 years ago i.e, in 1909 and called his store F.W Woolworths. He was an American retailer, who started his retailing career in 1879 in America. First retail outlet of Woolworths in Britain was on Church Street in Liverpool. The very concept of Woolworths was clear right from the beginning; it sold everything from merchandise to household from three pence onwards to six pence. The idea behind the Woolworths pricing was to introduce a low cost retail store, where people can buy almost everything under one roof for as low as six pence. Woolworths was already a strong competitor to the existing retail stores in Britain. The Evolution of Woolworths then took place and this retail store was an instant hit in Britain, after a decade there was a new store opening every 17 days. The other speciality of Woolworths was the concept of pick ‘ n mix which was a completely new concept to British high streets, this was also a result to Woolworths becoming an instant hit in Britain. It was the first retail chain in Britain , and so it did keep the pace with the rapidly growing consumer demand. It also constantly kept updating its fashion products, merchandise, and entertainment. From its first inception till the very recent times, it had undergone numerous ups and downs in its business. In Late 90s Woolworths started to slip from its position in the London Stock Exchange, and the share prices were decreasing constantly, giving a chance to its competitors in this new generation to build a strong position in the market of retail chain. After this Woolworths failed to meet the changing customer demands and hence its market was taken over by a number of new competitors in the market. Woolworths is still familiar and fondly remembered as a 99 year old retail chain but, as the customer demands changed which proved that Woolworths couldnt keep the pace with the changing customer needs and finally ended itself in an unrecoverable position. This impact was even more intense because of the credit crunch. Aims: †¢ To investigate if business operations of Woolworths led to its demise. †¢ To investigate if the financial condition of Woolworths, led to its demise Objectives: †¢ To indentify if there was an operational failure, that led to Woolworths demise †¢ To identify if the financial condition of Woolworths, led to its demise. Research Questions: †¢ To what extent business operations of Woolworths influence its demise? †¢ Was the demise of Woolworths predictable from the companys financial situation before its demise? Methodology: The data will be collected from different sources like newspapers, journals, reports of the financial status of the company before the downfall. Companys Balance sheets will be collected to identify if there were any short comings in the companys finances that led to its demise. Key Financial Indicators and Ratios will be explained in brief and the formulae for calculating the ratios will be explained as they are in the theories. Also the articles on the same will be collected. The data collected will be purely financial data or the data which indicate the financial status of the company. Reports, journals and articles will be collected to understand how Woolworths failed as a business after 99 years of its first inception. Different views of the authors, writers and public will be taken into consideration while evaluating the data. Data will be collected to focus on the operations of Woolworths and its effects on Woolworths demise. Data will collected to analyse how Woolworths operated before the demise and nearing its demise. The overall aspects of operations that will be focussed are marketing, sales, business strategy as a whole group in order to analyse the operations of Woolworths. Analysis: After the data has been collected from the above mentioned sources, it will be evaluated by comparing it with the concepts like Key Financial Indicators and Ratios in theories, textbooks and other journals, and then a conclusion will be reached. The analysis of the companys balance sheets of last three years will be put through this rigorous comparison against the ideal financial situation described in theories and textbooks and will be then evaluated to reach to a conclusion. The data from the reports and journals will be evaluated through different key business strategies and other aspects of business like Marketing etc to reach to a conclusion whether or not Woolworths could change itself to the changing needs to the consumers. The other reports from various authors will help us to investigate whether there were one or more reasons for its downfall. This will also help the argument in the case of Woolworths downfall by authors and writers in different sources. The operations of Woolworths will be gauged in terms of business planning, customer service, marketing, competition, various sales techniques and overall business strategy. Definitions and the theories of the above mentioned topics by authors and textbooks will be used as the reference to evaluate the efficiency levels in operations of Woolworths. Woolworths operations will be studied in detail from the data sources and will be compared to the business operations theories by authors to evaluate the efficiency in operations of Woolworths and then a conclusion will be reached. Conclusion: To be Obtained. Bibliography: †¢ Streetwise Financing the Small Business: Raise Money for Your Business at Any Stage of Growth, By Charles H. Green. Published by Adams Media, 2003. †¢ Results: How to Assess Performance, Learning, and Perceptions in Organizations, By Richard A. Swanson, Ed Holton, Elwood F. Holton. Published by Berrett-Koehler, 1999 †¢ Finance for Non-Financial Managers: A Briefcase Book, By Gene Siciliano. Published by McGraw-Hill Professional, 2003 †¢ The Basics of Finance: Financial Tools for Non-Financial Managers, By Bryan E. Milling. Published by iUniverse, 2003. †¢ The Essentials of Finance and Accounting for Nonfinancial Managers, By Edward Fields. Published by AMACOM Div Mgmt Assn, 2002. †¢ International Business: Environments and Operations, By John D. Daniels, Lee H. Radebaugh, Michael Payne. Published by Addison-Wesley, 1995. †¢ The Disaster Recovery Handbook: A Step-by-step Plan to Ensure Business Continuity and Protect Vital Operations, Facilities, and Assets, By Michael Wallace, Lawrence Webber. Published by AMACOM Div Mgmt Assn, 2004. †¢ Intro to Business: Finance, Marketing, Operations, Management, By Les Dlabay, James L. Burrow, Steven A. Eggland, Jim Burrow. Published by Thomson South-Western, 2005. †¢ Operations Management in Business, By Andrew Greasley. Published by Nelson Thornes, 1999. †¢ Hoovers Handbook of World Business 2004: Profiles of Major Global Enterprises, By Hoovers, Incorporated, Hoovers, Incorporated. Published by Hoovers, Incorporated, 2004. †¢ Business Review Weekly: BRW, Published by Business Review Weekly, 2006. †¢ The Revitalisation of Woolworths Case Study, By Dennis Turner, Australian Graduate School of Management Centre for Corporate Change, Centre for Corporate Change. Published by Centre for Corporate Change, 1992. †¢ Remembering Woolworths: A Nostalgic History of the Worlds Most Famous Five-and-Dime, By Karen Plunkett-Powell. Published by St. Martins Press, 2001. †¢ http://www.rahoitustarkastus.fi/NR/rdonlyres/FA79ECF5-B480-4109-92FA-DF81C51B9477/0/20313L4.pdf †¢ http://www.sasb.wa.gov.au/DataStore/files/Categories/Financial%20Reporting%20Requirements/Financial%20Reporting%20Policy_Explanatory%20Notes%20as%20of%2013.11.2006.pdf †¢ http://www.tec.govt.nz/templates/standard.aspx?id=1222 †¢ http://www.tec.govt.nz/templates/standard.aspx?id=1223 †¢ http://www.businessfinance.com/books/workbook/BusinessFundingWorkbook028.htm †¢ http://www.startribune.com/business/37143589.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU †¢ http://www.telegraph.co.uk/finance/financetopics/recession/3528082/History-of-Woolworths.html †¢ http://www.telegraph.co.uk/finance/3482687/Woolworths-a-brief-history-in-pictures.html †¢ http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article5237402.ece †¢ http://www.dooyoo.co.uk/offline-shopping-misc/woolworths/1051087/ †¢ http://www.publishinggame.com/art_whysmallbusinessesfail.htm †¢ http://www.captureplanning.com/articles/69960.cfm? †¢ http://www.allbusiness.com/business-planning-structures/business-plans/1440-1.html

If I Could Tell You Essay Essay

TimeTime, said to be eternal, possess neither a beginning nor an end. Yet however there is a fixation on being able to measure it in years, months, days, hours, minutes and seconds. Trying to save time with new technology, manage time with multi-tasking activities. All in the hopes of giving meanings to the past, present and future. The past is able to been seen but not changed, today is in the present yet still unpredictable, and tomorrow is not guaranteed. If I Could Tell You by W. H. Auden is a villanelle much like others using rhyme, repetition, and meter, that revolve around the main idea of the continuity time and its unforeseeable nature. The rhyming of the alternating ending lines, â€Å"Time will say nothing but I told you so† (1) and â€Å"If I could tell you I would let you know† (3) keep the rhyme scheme which stays on the central themes. â€Å"Time will say nothing but i told you so† shows that time keeps going, because this is a statement. Although the things of the future are unforeseeable, it is guaranteed that in the end the only one who will know what will happen is Time. â€Å"If I could tell you I would let you know† show how unforeseeable Time is. Auden knows that he can not see into the future, which is why he says â€Å"If I could†¦ †. These two phrases depict the speakers understanding of the continuity of time even though he shows to have a desire to know ahead of time what to do before certain events. The villanelle itself has a rhythm as a whole through periodical thinking. The beginning shows how Time does not wait for anything or anyone, â€Å"nothing but I told you so†. He later goes on to question Time in the second stanza and if we should fight back, which is why he says â€Å"weep when clowns put on their show† and â€Å"stumble when musicians play† which are juxtapositions since these actions are not likely given the circumstances. The third stanza shows the shift as he begins to understand that Time is necessary and things have to happen for a reason, â€Å"the winds must come from somewhere†. In the fourth stanza his train of thought is nearing a conclusion as he begins to wonder if not only do things have to happen, but are they meant to happen for the greater good, â€Å"Perhaps the roses really want to grow†. The ending shows Audens maturity throughout the villanelle and ends with â€Å"If I could tell you I would let you know † stating that Time is out of his hands, but it is acceptable and if there was anyway he could help, he would. Throughout the villanelle, time is personified and introduced to the reader as an unreliable character, through. Auden blames Time for unwanted changes in life, and he repeats the line because he observes that all changes, even those that are unintentional, come with Time. The repetition of Time at the end of the stanza rather than the beginning or end display how eternal time is. The first part of each stanza question Time, but all ends with â€Å"Time will say nothing but I told you so†, explaining that whatever Auden thinks or observes, will all be part of the past in the future. Much like poetry as a whole, used to express emotion and speechless opinions, the villanelle is almost perfect fitting for the theme of time. A villanelles structure alone portrays almost a near exhibition of time. Through the first five stanzas, a villanelle is predictable with tercets although the last stanza is a quatrain. This depiction could be metaphorical that time can be planned although in the end, everything may not come to together as hoped. The meter only emphasises this metaphor more by breaking the alternating line in each of the tercets before at the end. Audens desire to be able to match time is emphasized by the repetition of two phrases by the structure of the poem, which in itself helps portray the author’s idea about times continuity and its unforeseeable nature.

American Culture

Every person has his/her own way of surviving life. We have our own beliefs that keep us alive. We have a set of rules that are set by the perspectives we kept even when we are still young. With this, we have ideas that differ from others. Religion is a part of our being that can define the person that we are in a lot of circumstances before our religions have its own set of moral and ethical values. Christianity for example is a widespread religion that was also used to conquer a number of countries around the world.However, Christianity has this certain belief about the life after someone’s death. This is patterned with the life of Jesus Christ who serves to be the Savior of the World from God’s punishments for being sinners. Religion has developed as time passed by having a number of trials and oppressors. In America, religion has also changed the way leaders and its people look into life. An example is that, people who believe in their religion depend on it at times of cruelties. They face difficult times in different ways such that there are those who call for Buddha and for God.Moreover, American life changed in having slaves by which, they have abolished the notion of having slaves that would cater their needs like some household chores and farm works. Reports show that slavery in America can be seen widely among its places especially in the northernmost colonies. Since for Christianity, the Bible say that the story of men also has some slaves, punished people, it is allowable that 40% of the families there own a slave. But Mennonites in the year 1688 tried to raise that slavery must be opposed and from that time, there had been arguments of removing this set – up.Even if there were â€Å"good slaveries†, they argued that being a slave itself is very degrading. It may lower the self – esteem of a person and might give them a perspective that their life are a little worthless than their bosses. Revolution was done to end this cruel set – up. There are also movements against the Christians who pursued doing bad things with other people with lower status than they have. It was with the revolts of these oppressed that they realized that the worth of other people be treated with significance.American until now might be enslaved by the thought of being superior if there are no other forces who tried to oppose them and make their spirits be awakened. In the sermons of Jonathan Edwards, he stated that God was with him the time he was all alone. For that matter, I think that with this very strong belief, Americans are able to be living with the likeness of spreading goodness especially when they are being sinners themselves for a long time. Religion has become the moving force of America that draws them close to civilization and developments.Moreover, it can move them to a life that is more productive and meaningful. Religion caused a lot of change in America that should be well taken in the minds o f its students as Educations has also been the priority of the government. Immigrants American has been termed to become the salad bowl by which many people from other countries settle. With that, there are many cultures that are being inside it for a long time. There is an argument though that American is not a salad bowl but a melting pot of people. Salad bowl is a set up by which all its ingredients are mixed together but not altering its shape and composition.This is what we call in science a heterogeneous mixture that apparently still has the characteristics of it components detectible. On the other hand, melting pot defines a homogeneous mixture that makes its constituents one. For instance, America being a melting pot described that the culture of the people who migrated there might have forgotten their own culture and had been accustomed with living like the true Americans. But can there be real Americans given that there are already many circumstances that they have been mi xed with other cultures years ago?Generally speaking, the immigration of people will more likely be causing the American a confusion of culture that will show that there is no specific culture in the country. Moreover, the risk of having immigrants will take them to a situation that will really reduce their privileges of expressing their own as they may want to have a good relationship with others. It may be noted though that the effects of the immigrant vary from time to time. When America has not yet settled its forces that will protect it from oppressors, it is very open with the people and countries that have bad and greedy motives over the country.It is only during the last 2 centuries that America has established a force that will prohibit other country to terrorize them and eventually, conquer it again. Luckily, America as of the moment stands tall with the ideology of being superior among the others. It was on the survey that there is only a very few percentage of Native Ame ricans in the State today. Approximately 1% of them are those with the pure blood of Americans. There were very little accounts that clearly state the original occupants of America.In what I have heard for a long time, America has been occupied by the red Indians which were also told to become the true native occupants of America. It was only when some White Americans tried to colonize the Indians that they were put on a situation not to oppose but to leave. Having a lot of settlers in America is both good and bad for some reasons. Good because the country is giving a number of opportunities to other people regarding careers and jobs. On the other hand, it is somehow a negative thing since immigration might be opening the country again to an occurrence of colonization.It may open the avenues of the terrorist to populate the country and soon become conquered by other nations. References Thomas Paine. (1776). The Crisis. Retrieved 19 May 2008 from http://www. ushistory. org/paine/cris is/c-01. htm John Edwards. (2008). Personnal Narrative. Retrieved 19 May 2008 from http://www. apuritansmind. com/JonathanEdwards/JonathanEdwards-Biographical- EdwardsPersonalNarrative. htm J. Hector St. John Crevecoeur. Letters from an American Farme. Retrieved 19 May 2008 from http://xroads. virginia. edu/~hyper/CREV/letter03. html

Personal Reflection My Internship Essay - 1551 Words

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