Report On The Company Next Plc Essay Example Pdf - Free Essay Example

Sample details Pages: 13 Words: 3761 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Research paper Tags: Investment Essay Did you like this example? Chapter 1. NEXT Plc Investment Report (December 2010). 1.1 NEXT Plc:- This investor report will cover all key areas such as cash generation, income, management of assets, quality of investment made, performance in the relative sector and dividend policy and cost of capital. On the basis of current and past performance of the company and data provided in different annual sheets and news of the company, this report will help give a clear picture as to whether an investor should sell, hold or buy shares of Next plc. 1.2 Next Plc Introduction:- Next Plc is one of the biggest clothing retail organisations in United Kingdom. Next Plc is known as excellent quality fashion, value for money, beautifully designed and accessories for women, men and children and together a complete range of home-ware. Organisation has 500 stores all over UK and Eire. Next plc has next directory, shopping catalogue of home and website which has 2 million and more customers all over 30 countries globally. Next as an international Plc has more than 180 operating stores all over Europe, middle east, Russia, Scandinavia, Japan and India. This organisations retail operation started in year 1982 and listed on London stock exchange and member of FTSE100 index. Next Plc started online shopping in year 1999 and the website serves more than 35 countries outside the United Kingdom through NextDirect.com which is an international website of organisation. Don’t waste time! Our writers will create an original "Report On The Company Next Plc Essay Example Pdf" essay for you Create order 1.3 Groups other businesses: Next Sourcing as a venture through, which sources, designs, and buys brand products; Lipsy a venture through, which designing and selling of Lipsy brand products to young womens fashion products through the website, retail and wholesale channels; and Ventura, which offers customer service to clients, wishes to outsource their customer contact administration and fulfilment activities. 1.4 Business strategies and objective:- The strategy of Next plc is to deliver continuous productivity in long term growth of the earning per share. Developing and Improving Next product ranges, in order to achieve success which reflects the total like for like sales performance and sales. The Next plc also focuses on Increasing the Next selling space and profitability ratio, meeting financial criteria for appraisal for new stores before the investment is made and level of success is measured and monitored by the profit and sales contribution as compared the appraised focused target. Increasing the number of Next Directory customers and their average spend as well as managing of net and gross margin through sourcing of the products, and efficient administration of stock, regular cost controlling and management of working capital. Apart from this the group also focuses on the maintaining the financial strengths by strong financing structure and balance sheet figures. Lastly, Next also plans to buy their share when earning enhances in the interest of shareholder as overall. 1.5 Historical financial performance:- Revenue: The revenue evaluation by historical financial performance will help us to calculate that how organisation is delivering higher returns to the shareholders. The evaluation is done by accessing the revenues which invoice the sales value, royalty and the tax through group sell products like Cloths, footwear and home ware. FT, (2009) shows that revenue is recognised when the products value and price is constant and reasonably assurance of the due collection of amount. The total revenue on Next through the brands excluding VAT in year 2010 is  £3,215.1 million, which was  £3,088.8 million in year 2009, the total rise of revenue is seen by 11.7%. Whereas the revenue from the Ventura is  £145.6 million and from other activities was  £45.8 million in year 2010 and in year 2009 it were  £161.8 million and  £20.8 million respectively. The NEXT PLC is 2nd highest revenue earner in United Kingdom in year 2010 (Standard and Poors, 2010). The total revenue of the Next Plc has increased by 10.8% in year 2010 when compared to year 2009. Figure 1. Source Next Plc annual report, 2010- Revenue Year 2010 was unusual and unstable due to the economic downturn and drop in sales along with weakness of Sterling compared to the Euro and US Dollar which are the key buying currencies. The increased retail space of Next Plc by 257,000 square feet in year 2010 and rising retail store from 510 (2009) to 517 (2010) help increased the revenue. The weakness of Sterling was a massive challenge to margins. The average rate at which Next plc acquired US Dollars declined by 35 cents and if Next plc has paid the same dollar prices for organisations merchandise, bought in gross margin would have been reduced by -5%. The wage and Salary in year 2010 is  £597.7 million which was increased whereas in year 2009 it was  £571.4 million, Social security costs and other pension cost were nearly equal in both the year. Figure 2. Source Next Plc annual report, 2010- Staff Costs Key Management Personnel Investments activities:- Next plc has increased the investment in retail space by 257,000 square feet in year 2010 whereas in year 2010 organisation has 517 retail stores which were 510 in year 2009. Next has plan to spend  £20 million on maintaining brand image, organisation has invested  £7m to extend the stores,  £26m refitting,  £6m in shoe and new sports departments and  £17m on extensions. In investment Next has explained that concentration of organisation on online purchasing is more as compare the one store in each city, which does not justify the investment. In other way though the organisation wants expand the online purchase still Next has not spent the money on marketing in 35 countries. Share Buyback: Organisation has policy to invest the money through buy back the shares in year 2010 organisation acquired the 5.9m of share at the cost of  £120 million. Next plc has major intention to develop core business activity rather than from buy back shares and intention to maintain an investment grade credit rating. The plc expects that IT systems business continuity will require continuous enhancements and ongoing investment to prevent obsolescence and maintain responsiveness to business needs. Figure 3. Source FT.com Companies investing in Next Plc in year 2010 Figure 4. Source Annual Report 2009 Companies investing in Next plc in year 2009 As shown in above two figures 3 and figure 4 shows that black rock investment management company has enhanced their share in next Plc in year 2010 to 12.53% in September 2010 where as in year 2009 it was 9.58 %, fidelity management and research also rose their share holding to 6.23% share in 2010 which was 5.79% in year 2009. Schroders Plc has 5.79% share holding in year 2009 and dropped the shareholding to 4.81% in year 2010 because the FTSE 100 expected growth of 20% in 2011 (Citywire.co.uk, 2010). Legal and Investment Management limited company and Standard Life insurance company have also gained 4.04% and 2.75% of share holding in year 2010 whereas the AXA SA and Barclays Global investor has withdrawn the share holding in Next Plc in year 2010 (uk.reuters, 2010). As the Retail profit increased by +12.2% and net margin increased by +1.1% organisation were focusing on the employee training and development and NEXT opened 9 home stand stores and taking out of town 18 stores the se store contributes the organisation 19% contribution and expect payback period of the capital is 14 months. Sources of finance:- It is necessary for an organisation to grow the sale and revenue in order to meet the market demand and shareholder expectation. Thus, the cash flow and income generation need to be looked into. Short term Finance: The short term finance is the system in which organisation borrow loan for less than a year, it is need to evaluate and to investigate the organisations debt or over draft with in short period of time which is less than a year. Working capital is the essential to carry out the day to day business, it is calculated as current assets current liabilities, as shown in the Appendix A, organisation has the positive working capital which helps the organisation to pay the short term liabilities. Though the significant drop of the working capital is seen in year 2010 ( £283.1 million) as compared to year 2009( £360.1million) is justified on the basis of the organisation investment in the new stores, increasing the retail space in many retail store, improving the online business and training and development activities for the employee. It is also seen that debtor days is decreased from 69 days to 66 days this shows that the better financial position of the Next Plc. In Next plc th e current ratio of the organisation is positive and indicates that the organisation has the positive and good financial position to pay the debt and liabilities. As shown in appendix A in year 2009 the current ratio was 1.50 and in year 2010 it is 1.37 which is positive justify the organisational strength. Appendix shows that the industry ratio is higher than the Next but the less and more than 1 ratio is justified on the basis of the organisation market expansion and store expansion strategy, and SP current ratio is low as compared to the organisations ratio. Figure 5. Source Annual Report 2010 Current liabilities Quick ratio:- Quick ratio helps to show that the organisation meets the short-term debt, (Current assets-inventories)/ Current liabilities. There is slight drop in the ratio seen in year 2010 (0.96) as compare to year 2009 (1.05), the slight drop is seen because of the increasing other creditors and accruals which is  £309.0 million (2010) which was  £239.6 million (2009), and other taxation and social security in year 2010 it was  £60.9 million which was  £46.3 million in year 2009. Long term finance:- The long term finance of the organisation is evaluated by equity. The equity of the company has  £ 133.6 million which was slightly dropped as compare to year 2009 which was  £140.6 million. In year 2010 the Fair value reserve of the organisation decreases drastically from  £69.6 million to  £ 5.1 million. The drop in the equity has seen year due to demerger of the Barclays Global Investment and AXA SA, in same way Schroder Investment management has decrease the share holding from 7.41% (2009) to 4.81% (2010) the significant drop has seen due to the Schroder Plc expects the FTSE 100 expected to rise at 20% and wanted to invest in FTSE100 (Matthew Goodburn, 2010). Figure 6. Composition of Equity in 2010-2009 Authorised share capital:- Figure 7. Source Annual Report 2010 Share Capital of Next Plc During the year 2010 Next plc purchased the 5,928,082 ordinary shares at 10 pence each at the open market at the cost of  £120.1 Million, whereas in year 2009 next purchased the 3,900,000 ordinary shares at the cost of  £53.6 million. Debt finance:- In year 2009 the total finance next plc has 567.8 million where as it was reduced in year 2010 it is  £ 520.9. The coupon rate next has issued 5.25% and had a nominal value of the  £300 million. Figure 8. Source Annual Report 2010 Corporate Bonds Figure 9. Source Annual Report 2010 Non-Current Liabilities Next plc has purchased a further  £9,500,000 of its 5.25% bond due September 2013 since the previous announcement on bond buybacks on 22 November 2009. A total of  £45,709,000 of these bonds has been purchased for cancellation, representing 15.2% of the initial issue and Following the repurchases,  £254,291,000 of the bonds remains in issue (londonstockexchange.com, 2010). Cash and Income generation:- Diagram below shows that net income improved 20.40% from  £302.40m to  £364.10m in year 2010, and the return on Asset is 23.77%, and return on investment is 43.24%. Figure 10. Source FT.com Net Income The generated income in year 2010 is  £530 million and the last year which was  £478 million, the rise of 11% was also explained that the total interest paid is  £25 million and in year 2009 it was  £45 million, the significant profit increase is due to the increasing stores in UK and increasing retail space in UK. The growth in retail cloth and footwear industry prediction is also helps to achieve the significant growth in profit of the organisation (FT, 2010). Figure 11. Source Annual Report 2010 Profit Before Tax Earnings per ordinary share:- Earnings per share are the indicator of the industry profitability, in calculating the capital required is an essential. The diagram below shown explains the next plc trend of the earning in year 2010 and 2009. Despite the challenging year Next Plc In year 2010 the basic earnings per share was significantly higher than the organisations past 5 years of performance, the 21% of increase in share earnings is proves the Next plc competitive financial and market position (London stock exchange 2010). The buyback share has also helps to achieve the 5% significant earnings per share. Figure 12. Source London Stock Exchange 2010 Earnings per Share The diagram below explains that the earning per share of the Next Plc was till 2008 was low as compares to the FTSE 100 and FTSE retailers, but the year 2010 shows the significant improvement in the performance as compare to other two bench markers. Figure 13. Source Annual Report 2010 Performance Chart Return on investment:- As shown in appendix and diagram below, the return on investment of last 5 years average was 39.92 where as in year 2010 return on investment was significantly higher. When return on investment concern the industry rate of return was 11.59, sector rate of return was 2.63 and SP return on Investment was 7.66 which was very low as compare to the actual Return on investment which NEXT Plc achieved in 2010, this shows the better and effective management of organisation towards the growth. Figure 14. Source uk.reuters.com Management Effectiveness Dividends Policy:- Next Plc has the progressive dividend policy, after raising profit by 18% to  £505 million and earnings per share 21% the board has sanctioned the 66 pence per share as a Dividend which is 20% more than last year (55 pence). The improving profit has been seen due to the development of the brand, products range, expansion of store, development of the online stores and cost controlling. Dividend cover remains healthy at 2.8 times compared to the sector average of 2.4 times. Given Next Plc expectation for further strong cash flow and the current level of cover, expect to raise dividends in the year ahead by at least 10%. Next has returned over  £2.2 billion to shareholders by way of share buybacks and in excess of  £900 million in dividends. This buyback activity has enhanced earnings per share, given shareholders the opportunity for capital (as well as revenue) returns and has been transparent to the financial markets. 1.6 Risk management To manage and mitigates the risks Next Plc has used the derivative as a financial instruments, the groups treasury policy is review and sanctioned by Board including authorised counterparties, instrument types and transaction limits, and principles governing the management of liquidity, interest and foreign currency risks. The Groups principal financial instruments, other than derivatives, are cash and short term deposits, bank overdrafts and loans, and corporate bonds. The main purpose of these financial instruments is to raise finance for the Groups operations. Liquidity risk:- The Next Plc manages its requirements in terms of cash and borrowing centrally to minimise net interest expense within risk parameters and ensures that the Group has sufficient liquid resources to meet the operating needs of its businesses. Figure 15. Source Annual Report 2010 Liquidity Risk It has been seen that as compared to the year 2009 the bank loan and overdraft has reduced in year 2010 to  £4.7 million where as in year 2009 it was  £ 121.6 million and the trade payable in year 2010 is  £379.5 million which was  £345.9 million in year 2009. The total cash flow in year 2010 is  £1104.5 million which was  £1121.4 million in year 2009, the significant drop is due to organisation better management of the bank loan and overdraft. At 30 January 2010 the Group had committed borrowing facilities of  £295.0m (2009:  £445.0m) in respect of which all conditions precedent have been met and which expire in July 2010. Interest rate risk:- The Next Plc has exposed to fair value interest rate risk on its fixed rate corporate bonds and cash flow interest rate risk on floating rate bank loans and overdrafts. The forecast cash and borrowings profile of the Group is monitored regularly to assess the mix of fixed and variable rate debt, and the Group uses interest rate derivatives where appropriate to reduce its exposure to changes in interest rates and the economic environment. Foreign currency risk:- The Groups principal foreign currency exposures arise from the purchase of overseas sourced products. Group policy allows for but does not demand that these exposures are hedged for up to 18 months ahead in order to fix the cost in Sterling. This hedging activity involves the use of spot, forward and option contracts. The market value of outstanding foreign exchange derivatives is reported regularly at Board level, and reviewed together with percentage cover taken by season and current market conditions in order to assess and manage the Groups on-going exposure. The Group does not have a material exposure to currency movements in relation to translation of overseas assets or liabilities and consequently does not hedge any such exposure. Foreign currency:- As shown in the table below Next Plc uses derivative instruments in order to manage foreign currency exchange risk arising on expected future purchases of overseas sourced products during the next twelve months. These derivatives comprise forward currency contracts and currency options, the terms of which match the terms of the expected purchase. Figure 16. Source Annual Report 2010 Foreign Currency 1.7 Performance of the Next and Sector:- From below diagram it is shows that the return on Investment and Return on Equity has significantly improved in Next in year 2010. Figure 17. Financial Progress 2010 Figure 18. Management effectiveness 2010 Figure 19. Financial Strength of Next Plc in 2010 From above two diagrams it is seen that management of the Next Plc is on the basis of return on assets, return on investment and Return on equity has significantly better as compares the Sector and Industry. Figure 20. Source Google Finance Share Price Comparison From above diagram which shows the comparison in between the competitors and FTSE100 index, it shows that since last quarter of 2008 the performance of Next plc is significantly better as compare to Mark Spencer Plc, Debenhams PLC and FTSE 100 index. 1.8 Conclusion:- On the basis of the above analysis it is concluded that Next Plc has good financial position and competitive advantages as compare to the industry competitors. The significant improving of profit of  £505 million and Earnings per share and Dividend and revenue generation has shows the positive growth of the next Plc. There is control of the book value as seen from the balance sheet. The management are effective and the company is of high value. Next Plc obtains extra revenue from managing wise investments. There was a 7% increase in sales in this third quarter which forces a bidding war to erupt. 1.9 Recommendation:- On the basis of above discussion, various investor analysis and my analysis it is recommended that investor should hold the share of Next Plc. Next Plc has improved the performance on the basis of revenue, profit, dividend paid and Earnings per share. As shown in below diagram it is proved that financial condition of NEXT plc is very good and also expected to perform well in retail Cloth and footwear industry. Source UK Reuters. Com Source UK Reuters. Com Source UK Reuters. Com 1.10 Appendices:- Appendix: A, 2010 2009 Working Capital 283.1 million 360.1 Million Total creditors days 66.06 Days 69.54 Days Quick ratio = (current assets stock) /current liabilities 0.96 1.05 current ratio = current asset /current liabilities 1.373 1.50 total debtors days= debtors /credit sales *365 58.96 54.72 Appendix: B, Return on Equity (%) 68.67 54.38 Gearing 85.04 83.54 Interest cover ratio 3.5 3.38 Quick Ratio 0.96 1.05 Appendix: C, ANALYSIS Estimates Mean High Low 1 Year  Ago SALES (in millions) Year Ending  Jan-10 21 3,370.89 3,472.10 3,249.40 Year Ending  Jan-11 24 3,474.00 3,532.23 3,417.16 3,405.85 Year Ending  Jan-12 24 3,573.02 3,674.64 3,453.00 3,519.91 EARNINGS (per share) Year Ending  Jan-10 23 181.24 185.53 177.30 Year Ending  Jan-11 26 214.09 228.12 200.00 177.22 Year Ending  Jan-12 26 229.17 253.28 196.10 190.23 LT Growth Rate (%) 4 12.00 17.60 9.30 6.89 Source, ukreuters.co.uk Sales and Earnings Figures VALUATION RATIOS Company Industry Sector SP 500 P/E Ratio (TTM) 11.25 19.50 12.30 18.06 P/E High Last 5 Yrs. 1.90 0.23 19.89 P/E Low Last 5 Yrs. 0.34 0.06 5.14 Beta 0.96 0.71 0.96 1.28 Price to Sales (TTM) 1.13 2.09 2.45 2.13 Price to Book (MRQ) 45.57 2.50 0.90 2.84 Price to Tangible Book (MRQ) 98.66 4.86 1.09 19.19 Price to Cash Flow (TTM) 7.71 18.18 6.20 10.60 Price to Free Cash Flow (TTM) 12.86 14.10 6.75 47.90 % Owned Institutions DIVIDENDS Company Industry Sector SP 500 Dividend Yield 3.36 1.83 1.07 1.64 Dividend Yield 5 Year Avg. 3.33 1.39 1.35 2.48 Dividend 5 Year Growth Rate 9.99 11.06 2.09 -6.80 Payout Ratio(TTM) 35.10 24.16 12.55 38.57 GROWTH RATES Company Industry Sector SP 500 Sales (MRQ) vs Qtr. 1 Yr. Ago 4.95 8.49 8.05 9.41 Sales (TTM) vs TTM 1 Yr. Ago 6.05 8.02 7.51 8.74 Sales 5 Yr. Growth Rate 3.57 12.46 9.69 9.98 EPS (MRQ) vs Qtr. 1 Yr. Ago 22.11 80.36 245.96 6.03 EPS (TTM) vs TTM 1 Yr. Ago 18.77 EPS 5 Yr. Growth Rate 8.43 9.11 2.10 6.96 Capital Spending 5 Yr. Growth Rate -7.30 6.61 5.04 4.90 FINANCIAL STRENGTH Company Industry Sector SP 500 Quick Ratio (MRQ) 0.83 1.37 0.59 0.64 Current Ratio (MRQ) 1.23 1.91 0.76 0.95 LT Debt to Equity (MRQ) 608.30 17.21 26.05 119.05 Total Debt to Equity (MRQ) 676.36 28.92 39.19 174.09 Interest Coverage (TTM) 10.39 0.35 18.91 PROFITABILITY RATIOS Company Industry Sector SP 500 Gross Margin (TTM) 40.71 12.16 32.66 Gross Margin 5 Yr. Avg. 28.26 44.42 24.44 29.16 EBITD Margin (TTM) 19.45 EBITD 5 Yr. Avg 18.60 12.03 10.47 18.54 Operating Margin (TTM) 15.97 9.38 -5.96 Operating Margin 5 Yr. Avg. 15.39 9.81 5.49 16.38 Pre-Tax Margin (TTM) 15.31 9.50 -6.00 14.93 Pre-Tax Margin 5 Yr. Avg. 14.39 10.11 5.35 15.98 Net Profit Margin (TTM) 11.12 5.70 -6.77 11.09 Net Profit Margin 5 Yr. Avg. 10.16 5.87 3.60 11.73 Effective Tax Rate (TTM) 27.37 77.35 15.72 51.21 Effecitve Tax Rate 5 Yr. Avg. 29.43 44.89 32.66 25.46 EFFICIENCY Company Industry Sector SP 500 Revenue/Employee (TTM) 97,737 61,607,758 21,641,280 674,027 Net Income/Employee (TTM) 10,870 3,893,360 1,088,333 84,519 Receivable Turnover (TTM) 5.93 81.38 18.19 10.38 Inventory Turnover (TTM) 4.29 4.40 6.71 Asset Turnover (TTM) 2.14 1.11 0.38 0.55 MANAGEMENT EFFECTIVENESS Company Industry Sector SP 500 Return on Assets (TTM) 23.77 8.15 1.74 5.91 Return on Assets 5 Yr. Avg. 21.04 8.77 3.56 5.74 Return on Investment (TTM) 43.24 11.50 2.62 7.59 Return on Investment 5 Yr. Avg. 39.92 13.00 6.23 7.41 Return on Equity (TTM) 369.21 13.68 5.32 17.84 Return on Equity 5 Yr. Avg. 239.36 14.98 9.14 9.20 Chapter 2. References and Bibliography. Standard and Poors, 2010, Risk-to-Price Commentary: Next PLC, Publication date: 16-Aug-2010 14:12:45 EST, Available at: https://www.standardandpoors.com/productsservices/articles/en/us/?assetID=1245219585883 (Access on 20:25 on 12/11/2010) Financial times 2010, Available at: https://markets.ft.com/tearsheets/businessProfile.asp?s=NXT:LSE (Access on 3:25 on 13/11/2010) 3. Next Plc Annual report 2010, Available at: https://www.nextplc.co.uk/nextplc/financialinfo/reportsresults/2009/jan10/jan10-c.pdf (Access on 23.00 on 15/10/2010) Financial times.com Available at: https://markets.ft.com/tearsheets/financialsSummary.asp?s=NXT:LSE (Access on 02:39, 14/11/2010) Citywire.co.uk, Matthew Goodburn, 2010, Bullish Buxton: FTSE to gain 20% in 2011, Available at: https://citywire.co.uk/money/bullish-buxton-ftse-to-gain-20-in-2011/a433730 (Access on 14:36, 13/11/2010) UK.reuters.com, 2010, NEXT plc Announces Holding Interest Of Legal General Group Plc Available at: https://uk.reuters.com/business/quotes/keyDevelopments?symbol=NXT (Access at 17:48 on 13/11/2010) London Stock Exchange, GBP 300m 5.25% Sterling bond due September 2013, Available at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10331181 (Access on 02:10, 14/11/2010) Atrill P., Financial Management for Decision Makers, 5th edition, FT prentice Hall, 2009. Austin, L.M. (2005) Benchmarking to Economic Value Added. An International Journal. 12(2). Pp 138-150. Creelman, J. Makhijani, N. (2005) Mastering Business in Asia:Succeeding With The Balanced Scorecard Singapore: John Wiley Sons(Asia)Pte Ltd Horngren, C.T., Sundem, G.L., Stratton, W.O., Burgstahler, D. and Schatzberg, J. (2008) Introduction Management Accounting. 14th edn. New Jersey: Pearson Prentice Hall McLaney, E. J. (2000) Business Finance:Theory and Practice 5th edn. Essex:Pearson Education Limited Melicher, R. W. Leach,J .C.(2009) Finance For Entrepreneurs 3rd edn.USA: South-Western Cengage Learning Neale, B. McElroy, T. (2004) Business Finance: A Value-Based Approach Essex:Pearson Education Limited Olve, N.G , Roy, J. Wetter. M.(2000) Performance Drivers:A Practical Guide to Using the Balanced Scorecard West Sussex:John Wiley Sons Ltd Upchurch, A. (1998) Management Accounting: Principles Practice Essex:Pearson Education Limited

Fame Isnt Everything - 1111 Words

Fame Isn’t Everything Chloe McGlaun Galveston College Fame Isn’t Everything Kurt Cobain was born in Aberdeen, Washington on February 20, 1967. When Cobain turned eight, his childhood was no longer filled with happiness due to his parents divorce. After receiving a guitar for his fourteenth birthday, Cobain found an outlet for his emotions. In 1987, Cobain and his friends formed a band, which became known as Nirvana. Two years later, they came out with their first album called Bleach. During Nirvana’s first European tour, Cobain experienced his first mental breakdown while performing, not long after he began using heroine. Courtney Love, a singer in the punk-rock band Hole, and Cobain began having relations. After Love†¦show more content†¦Cobain’s first suicidal attempt in 1992 was thought to be a mistake, until his three page suicide note was found (Kurt Donald Cobain, 2014). 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They also want to be one of the greats; they want to be remembered; they want to be in the hall of fame. Now, envision yourself as a newbie on a baseball team that

Home Reading Report Free Essays

string(420) " 1 2 12 2 0 1 0 12 2 0 1 2 0 3 Electromechanical Supervisor Servicing Department Supervisor Machinist / Tool keeper Machinist / Fitter Mandaue City, Philippines Mandaue City, Philippines MEPZ- I ,Mactan Island, Cebu, Philippines MEPZ- I ,Mactan Island, Cebu, Philippines ZERCOOL POWER Airconditioning and Electrical Services B and A TRADING and Airconditioning Services ABTECH Machineries and Engineering Services Corp\." Save to Officio Citizenship and Immigration Canada Citoyennete et Immigration Canada PROTECTED WHEN COMPLETED – B PAGE 1 OF 4 SCHEDULE A BACKGROUND / DECLARATION The principal applicant, his or her spouse or common-law partner, if applicable, and all dependent children aged 18 years or older listed in the application for permanent residence must complete their own copy of this form. If there is not enough space to provide all the necessary information, attach to this form a separate sheet of paper with further details. Print your name at the top of each additional sheet and indicate the form’s title and the number of the question you are answering. We will write a custom essay sample on Home Reading Report or any similar topic only for you Order Now Before you start completing this form, make enough photocopies for your needs. You can also print all or part of this form from our Web site at www. cic. gc. ca. BEFORE YOU START, READ THE INSTRUCTION GUIDE TYPE or PRINT in black ink Indicate whether you are The principal applicant 1. Your full name Family name The spouse, common-law partner or dependent child aged 18 years or older of the principal applicant 6. Have you, or, if you are the principal applicant, any of your family members listed in your application for permanent residence in Canada, ever: YES NO a) been convicted of a crime or offence in Canada for which a pardon has not been granted under the Criminal Records Act of Canada? b) been convicted of, or are you currently charged with, on trial for, or party to a crime or offence, or subject of any criminal proceedings in any other country? c) made previous claims for refugee protection in Canada or at a Canadian visa office abroad, in any other country or countries, or with the United Nations High Commissioner for Refugees (UNHCR)? ) been refused refugee status, an immigrant or permanent resident visa (including a Certificat de selection du Quebec (CSQ) or application to the Provincial Nominee Program) or visitor or temporary resident visa, to Canada or any other country? e) been refused admission to, or ordered to leave, Canada or any other country? f) been involved in an act of genocide, a war crime or in the commission of a crime against humanity? Date of birth Town/City of birth Country of birth Date of death, if deceased 5. Year Month Day Tito Given name(s) Roderick 2. Your full name written in your native language or script (e. . , Arabic, Cyrillic, Chinese, Korean, Japanese characters or Chinese commercial/telegraphic code) Roderick M. Tito 3. 4. Your date of birth Year Month Day 1972 01 17 Personal details of your father Family name Tito Given name(s) Felix 1 9 1 2 1 2 0 8 Danao City, Cebu Philippines Year Month Day g) used, planned or advocated the use of armed struggle or violence to reach political, religious or social objectives? h) been associated with a group that used, uses, advocated or advocates the use of armed struggle or violence to reach political, religious or social objectives? ) been member of an organization that is or was engaged in an activity that is part of a pattern of criminal activity? j) been detained, incarcerated or put in jail? 1 9 9 8 Personal details of your mother Family name at birth k) had any serious disease or physical or mental disorder? Tito If your answer to any of these questions is YES, provide details below. Given name(s) Fedilinda Date of birth Town/City of birth Country of birth Date of death, if deceased 1 9 4 7 0 4 2 7 Year Month Day Danao City, Cebu Philippines Year Month Day This form is made available by Citizenship and Immigration Canada and is not to be sold to applicants. IMM 5669 (07-2011) E (DISPONIBLE EN FRANCAIS – IMM 5669 F) Save to Officio PAGE 2 OF 4 7. Education Give the number of years of school you successfully completed for each of the following levels of education. Elementary/ primary school Secondary/ high school University/ college Trade school or other post secondary school 6 4 1. 5 Give full details of all the secondary and post secondary education (including university, college and apprenticeship training) you have had. From To Type of certificate or Name of institution City and country diploma issued Y M M Y 2 0 1 1 1 1 2 0 1 2 0 3 2 0 1 2 0 3 2 0 1 2 0 3 1 9 9 7 1 2 1 9 9 7 1 2 1 9 9 7 0 6 1 9 9 7 0 7 BMC Training Center for Welding and Fabrication Inc. BMC Training Center for Welding and Fabrication Inc. MIAP Training and Service Center / TESDA Region VII Technical Education and Skills Development Authority ( TESDA Region VII ) Mandaue Technical Institute Mabolo Cebu City, Philippines Mabolo Cebu City, Philippines Cebu City, Philippines Cebu City, Philippines 1 9 9 4 0 6 1 9 9 5 0 4 8. Personal history Mandaue City, Cebu Philippines Shielded Metal Arc Welding NC II ( 360 hrs. ) Industrial Pipefitting NC II ( 160 hrs. ) Industrial Pipefitting Course ( 80 hrs. ) Refrigeration and Air Conditioning 10 months Basic Seaman Course Provide the details of your personal history since the age of 18, or the past 10 years, whichever comes first. Start with the most recent information. Under â€Å"Activity†, write your occupation or job title if you were working. If you were not working, provide information on what you were doing (for example: unemployed, studying, travelling, retired, in detention, etc. ). Note: Please ensure that you do not leave any gaps in time. Failure to account for all time periods will result in a delay in the processing of your application. From Y M Y To M Activity Welding Instructor and Aircon Techinician City or town and country Cebu City, Philippines Name of company, employer, school, facility, as applicable Brilliant Metal Craft Training Center for Welding and Fabrication Inc. 2 0 1 2 0 6 2 0 1 2 12 2 0 1 0 12 2 0 1 2 0 3 Electromechanical Supervisor Servicing Department Supervisor Machinist / Tool keeper Machinist / Fitter Mandaue City, Philippines Mandaue City, Philippines MEPZ- I ,Mactan Island, Cebu, Philippines MEPZ- I ,Mactan Island, Cebu, Philippines ZERCOOL POWER Airconditioning and Electrical Services B and A TRADING and Airconditioning Services ABTECH Machineries and Engineering Services Corp. ATA Engineering and Technology Consortium Inc. 1 9 9 7 0 6 2 0 1 0 12 1 9 9 4 0 4 1 9 9 6 12 1 9 9 2 1 1 1 9 9 4 0 3 9. Membership or association with organizations What organizations have you supported, been a member of or been associated with? Include any political, social, youth or student organization, trade unions and professional associations. Do not use abbreviations. Indicate the city and country where you were a member. Write â€Å"NONE† in the box if you have not been a member of any association/organization. From Y M Y To M Name of organization Insovilla Plains Homeowners Association BMC Assistant Instructor NONE Type of organization SOCIAL STUDENT Activities and/or positions held within organization PRESIDENT PRESIDENT City and country Lapu-lapu City, Cebu Philippines Cebu City, Philippines 2 0 0 7 0 3 2 0 1 2 2 0 1 2 0 5 2 0 1 2 0 6 NONE NONE 10. Government positions List any government positions (such as civil servant, judge, police officer) you have held. Do not use abbreviations. Write â€Å"NONE† in the box if you have not held any government position. From Y M Y To M Country and level of jurisdiction (e. g. national, regional, municipal) NONE Department/Branch Activities and/or positions held NONE NONE NONE NONE IMM 5669 (07-2011) E Save to Officio PAGE 3 OF 4 11. Military service Provide below details of military service for each of the countries in whose armed forces you served. Write â€Å"NONE† in the box if you have not undertaken military service. Name of country NONE From Y M Y To M Branch of service, unit numbers and names of your commanding officers Rank(s) Dates and places of any active combat NONE NONE NONE NONE NONE NONE Name of country NONE From Y M Y To M Branch of service, unit numbers and names of your commanding officers Rank(s) Dates and places of any active combat NONE NONE NONE NONE NONE NONE 12. Addresses List all addresses where you have lived since your 18th birthday. Do not use P. O. box addresses. From Y M Y To M Juan Luna Street 749 M. L Quezon St. Cabancalan Insovilla Plains, Marigondon Street and number City or town Province, State or District Country 1 9 9 0 0 1 1 9 9 3 0 1 1 9 9 3 0 1 2 0 0 0 0 3 Danao City Mandaue CIty Lapu-lapu City Cebu Cebu Cebu Philippines Philippines Philippines 0 0 0 0 3 2 0 1 2 12 IMM 5669 (07-2011) E Save to Officio PAGE 4 OF 4 Authority to disclose personal information By submitting this form, you consent to the release to Canadian government authorities of all records and information any government authority, including police, judicial and state authorities in all countries in which you have lived may possess on your behalf c oncerning any investigations, arrests, charges, trials, convictions and sentences. This information will be used to assist in evaluating your suitability for admission to Canada or remaining in Canada pursuant to Canadian legislation. Declaration of applicant I declare that the information I have given is truthful, complete and correct. Year Month Day Signature Date DO NOT COMPLETE THE FOLLOWING SECTION NOW. YOU MAY BE ASKED TO SIGN IN THE PRESENCE OF A REPRESENTATIVE OF THE CANADIAN GOVERNMENT OR AN OFFICIAL APPOINTED BY THE CANADIAN GOVERNMENT. Solemn declaration I, , do solemnly declare that the information I have given in the foregoing application is truthful, complete and correct, and I make this solemn declaration conscientiously believing it to be true and knowing that it is of the same force and effect as if made under oath. Interpreter declaration I, , do solemnly declare that I have faithfully and accurately interpreted in the language the content of this application and any related forms to the person concerned. I have been informed by the person concerned, and I do verily believe, that he or she completely understands the nature and effect of these forms, and I make this solemn declaration conscientiously believing it to be true and knowing that it is of the same force and effect as is made under oath. Signature of applicant Signature of interpreter Declared before me at Canadian Government official this day of of the year Name Please print or type Signature The information you provide on this form is collected under the authority of the Immigration and Refugee Protection Act and will be used for the purpose of assessing your application for permanent residence. It will be stored in Personal Information Banks (PPU 039 entitled Overseas Immigration Case File and PPU 042 entitled Immigrant Case File). It may be shared with other organizations in accordance with the consistent use of information under the Privacy Act. Under the provisions of the Privacy Act and the Access to Information Act, individuals have the right to protection of and access to their personal information. Details on these matters are available at the Infosource website (http://infosource. gc. ca) and are also available at public libraries across Canada. IMM 5669 (07-2011) E Family Name: Tito Save to Officio Given Name: Roderick . 7. Education Give the number of years of school you successfully completed for each of the following levels of education. Elementary/ Secondary/ University/ 6 4 primary school high school college ADDENDUM 1. 5 Trade school or other post secondary school Give full details of all the secondary and post secondary education (including university, college and apprenticeship training) you have had. From Y M Y To M Name of institution BMC Training Center for Welding and Fabrication Inc. City and country Mabolo Cebu City, Philippines Mabolo Cebu City, Philippines Cebu City, Philippines Cebu City, Philippines Type of certificate or diploma issued Shielded Metal Arc Welding NC II ( 360 hrs. ) Industrial Pipefitting NC II ( 160 hrs. ) Industrial Pipefitting Course ( 80 hrs. Refrigeration and Air Conditioning 10 months Basic Seaman Course 2 0 1 1 1 1 2 0 1 2 0 3 2 0 1 2 0 3 2 0 1 2 0 3 1 9 9 7 12 1 9 9 7 12 1 9 9 7 0 6 1 9 9 7 0 7 BMC Training Center for Welding and Fabrication Inc. MIAP Training and Service Center / TESDA Region VII Technical Education and Skills Development Authority ( TESDA Region VII ) Mandaue Technical Institute 1 9 9 4 0 6 1 9 9 5 0 4 . 8. Personal history Mandaue City, Cebu Philippines Provide the details of your personal history since the age of 18, or the past 10 years, whichever comes first. Start with the most recent information. Under â€Å"Activity†, write your occupation or job title if you were working. If you were not working, provide information on what you were doing (for example: unemployed, studying, travelling, in detention, etc. ). Note: Please ensure that you do not leave any gaps in time. Failure to account for all time periods will result in a delay in the processing of your application. From Y M Y To M Activity Welding Instructor and Aircon Techinician City or town and country Cebu City, Philippines Name of company, employer, school, facility, as applicable Brilliant Metal Craft Training Center for Welding and Fabrication Inc. 0 1 2 0 6 2 0 1 2 12 2 0 1 0 12 2 0 1 2 0 3 Electromechanical Supervisor Servicing Department Supervisor Machinist / Tool keeper Machinist / Fitter Mandaue City, Philippines Mandaue City, Philippines MEPZ- I ,Mactan Island, Cebu, Philippines MEPZ- I ,Mactan Island, Cebu, Philippines Mandaue City, Philippines Danao City, Philippines ZERCOOL POWER Airconditioning and Electrical Services B and A TRADING and Airconditioning Services ABTECH Machineries and Engineering Services Corp. ATA Engineering and Technology Consortium Inc. 1 9 9 7 0 6 2 0 1 0 12 1 9 9 4 0 4 1 9 9 6 12 1 9 9 2 1 1 1 9 9 4 0 3 9 9 2 1 1 1 9 9 3 0 5 1 9 9 0 0 4 1 9 9 2 10 Production Worker Coal Miner Sunpride Foods, Inc. Almendras Mining Corporation 12. Addresses List all addresses where you have lived since your 18th birthday. Do not use P. O. box addresses. From Y M Y To M Street and number City or town Province, State or District Country 1 9 9 0 0 1 1 9 9 3 0 1 1 9 9 3 0 1 2 0 0 0 0 3 Juan Luna Street Danao City Cebu Philippines 749 M. L Quezon St. Cabancalan Insovilla Plains, Marigondon Mandaue CIty Lapu-lapu City Cebu Cebu Philippines Philippines 2 0 0 0 0 3 2 0 1 2 12 IMM 5669 (07-2011) E . How to cite Home Reading Report, Essay examples

Income Statement Ratios Important to Investors

Question: Describe and analyse the role of accounting information in a business context.Analyse a set of financial statements including balance sheet, profit and loss accounts and cash flow statements.Demonstrate the relationship between accounting data and financial planning and resource allocation decisions. Answer: 1 a. Trial balance is an accounting report which contains the balance of all the general ledger accounts of an organization. It is generated at the end of the accounting period using the ledgers. The debit contains all the assets and the expenses while the credit side contains liabilities equities and revenue earned by the company. The balances which are to be debited are listed in the debit column while the balances which are to be credited is listed in the credit column. The total of debit column in the trial balance should be equal to the total of credit column in the trial balance. After preparing the unadjusted trial balance, the final adjusted trial balance is made by taking into account all the entries which were either wrongly entered or missed while making the trial balance. In the given question, the adjustment entries were made for Closing inventory Depreciation of both Equipment and Motor vehicles Prepayment of Rent Accrual of Telephone bill Heat and lighting expense Accrual of tax The trial balance and adjustment entries are given below: Weather and Sons Trial Balance as at 30th June 2016 Adjustments - Final TB - DR CR DR CR DR CR Retained Profit 88000 88000 Sales 636000 636000 Share Capital 100000 100000 Share Premium 200000 200000 Inventory 87000 37000 50000 Purchases 230000 37000 267000 Trade payables 86000 86000 Trade receivables 205000 205000 bank 83900 83900 Motor Expenses 12987 12987 Maintenance 12000 12000 Salaries Wages 106000 106000 Administration Expenses 33220 33220 Telephone 5687 4300 9987 Heat Light 14300 5000 9300 Equipment at cost 318000 47700 270300 Provision for depreciation equipment 45000 45000 Motor vehicles at cost 45000 11250 33750 Provision for depn motor vehicles 6000 6000 Rent 68000 8000 60000 Advertsing 19118 19118 Bad Debts 3788 3788 Provision for Bad Debts 2000 2000 Long term loan 90000 90000 Interest 9000 9000 Equipment depreciation 47700 47700 Motor vehicles depreciation 11250 11250 PrePayments 13000 13000 Accrual 4300 4300 Income tax expense 18300 18300 Provision for income tax 18300 18300 Loan interest accrued Total 1253000 1253000 131550 131550 1275600 1275600 B. Income statement also called profit and loss statement is one of the most important financial statements. It is important as it tells about the profitability of the company. The Income statement contains the sources of revenue of the company and the various expenses involved in conducting the business. It tell about the business if it is able to generate profit or not and if the investors should invest in the company. The income statement can be divided into operating part and non operating part. The operating part contains the revenue, expense, which are involved due to daily activities of the business. The non operating part contains expense which does not involve daily activities. Income statement using the adjusted trial balance is given below: Weather and Sons Income Statement as at 30th June 2016 Sales 636000 Purchases 267000 Gross Profit 369000 Operating Expenses Depreciation 58950 Maintenance 12000 Salaries Wages 106000 Administration Expenses 33220 Telephone 9987 Heat Light 9300 Motor Expenses 12987 Rent 60000 Advertising 19118 Bad Debts 3788 Interest 9000 Operating Income 34650 Tax 18300 Net income 16350 Thus from the income statement in can be seen that the Profit earned by the company is 16350. C. Balance Sheet of the company is one of the most important financial statements used by the investors. It represents the financial condition of the company on a specified date. It contains the assets and liabilities owned by the company and the amount invested by the shareholders. Also the balance sheet holds the accounting equation Assets = Liabilities + Shareholder Equity The assets are the documented in the top of balance sheet and is arranged in the order of liquidity with the most liquid assets first. The assets contain current assets and non current assets. The current assets are either cash or cash equivalent which can be converted to cash in less than a year. It consists of cash, prepaid expense, account receivables and inventory. The non current assets take longer time to convert to cash (more than a year). It consists of equipment, long term investment and intangible assets. The liabilities of the company are the amount the company owes to various account holders. It contains current liabilities and non current liabilities. The current liabilities of the company have to be paid by the company in less than a year. The non current liabilities of the company have to be paid by the company in a longer time (more than a year). The shareholder equity is the last part of the balance sheet. The money invested by the shareholders for running the business is called shareholder equity. It contains the money invested while starting the business and the retained earning which is the profit earned by the company and reinvested in the business. The equity of the company helps in understanding if the business is financed by the owners or the company has taken a debt to finance its business. If the debt taken by the company is low, then the risk of the company is lower as the company will have to not have to pay back to the investors immediately and can reinvest the money earned for the growth of the company. If the debt taken by the company is high then the risk of the company is higher as the company will have to pay back to the debtors at the end of the period. The Balance Sheet of the company for 2016 is prepared using the adjusted trial balance Assets Current Assets Bank 83900 Prepayment 13000 Trade receivables 205000 Inventory 50000 Non Current Assets Motor vehicles at cost 33750 Equipment at cost 270300 Total Assets 655950 Liabilities Long term loan 90000 Trade payables 86000 Accrual 22600 Provision for Bad Debts 2000 Provision for depn motor vehicles 6000 Provision for depreciation equipment 45000 Equity Share Capital 100000 Share Premium 200000 Net income 16350 Retained Earnings 88000 Liabilities + Equity 655950 2: For the ratio analysis, the two UKs main airline companies I have chosen from the list provided are British Airways and Ryan Air. The annual reports of the two companies (British Airways and Ryan Air) were downloaded for the year 2013, 2014, and 2015. Profitability ratios: The main aim of the business is to generate profits for its shareholders. The capability of a company to make profits is called Profitability of the company. The income earned by the company is through the sales of goods and services by the business. The company has to incur expense to generate this revenue in the business. Profits are calculated by removing all the expenses incurred in the business from the revenue earned. The profitability ratios help in finding if the business of the company is able to earn profits. The profitability ratios calculated for the two companies are Net Profit Margin and Return on Assets Net Profit Margin: The Net Profit Margin is defined as the profit earned by the company per unit of sales revenue earned. It is given by Net Profit/ Sales. If the company is able to generate more profits per unit of sales then the Net Profit Margin is higher. Thus the company will be able to pay for its expenses easily from the revenue earned. (Profit Margin Ratio) For the company Ryan Air, For the year 2013, The net profit = 569.3 M The total revenue from sales = 4884 M Thus Net Profit Margin = 569.3/ 4884 = 11.66 % For the year 2014, The net profit = 522.8 M The total revenue from sales = 5036.7 M Thus Net Profit Margin = 522.8/ 5036.7 = 10.38 % For the year 2015, The net profit = 866.7 M The total revenue from sales = 5654 M Thus Net Profit Margin = 866.7/ 5654 = 15.33 % The Profit Margin of Ryan Air has increased since 2013. Thus the company is performing well which is sign of growth of the company. For the company British Airways, For the year 2013, The net profit = 281 M The total revenue from sales = 11421 M Thus Net Profit Margin = 281/ 11421 = 2.46 % For the year 2014, The net profit = 702M The total revenue from sales = 11719 M Thus Net Profit Margin = 702/ 11719 = 5.99 % For the year 2015, The net profit = 2508 M The total revenue from sales = 11333 M Thus Net Profit Margin = 2508/ 11333 = 22.13 % The Profit Margin of British Airways has increased by more than 10 times since the year 2013. Thus the company is performing well which is sign of growth of the company. Return on Assets: Return on Assets is defined as the profit earned by the company for the investment in the assets. It is given by Net Profit/ Average Assets. If the Return on Assets is high then the company is able to utilize its assets efficiently. (Return on Assets Ratio - ROA) For the company Ryan Air, For the year 2013, Return on Assets = 569.3/ [(9001 + 8943)/ 2] = 6.35% For the year 2014, Return on Assets = 522.8/ [(8943 + 8812.1)/ 2] = 5.89% For the year 2015, Return on Assets = 866.7/ [(8812.1 + 12185.4)/ 2] = 8.26% The return on assets for Ryan Air has increased since the year 2013. Thus the company has used its assets efficiently. For the company British Airways, For the year 2013, Return on Assets = 281/ [(11136 + 11921)/ 2] = 2.44 % For the year 2014, Return on Assets = 702/ [(11921 + 13426)/ 2] = 5.54 % For the year 2015, Return on Assets = 2508/ [(13426 + 15376)/ 2] = 17.42 % The return on assets for British Airways has increased by more than 8 times since the year 2013. Thus the company has used its assets very efficiently. Liquidity Ratio: Liquidity Ratio of a company helps in determining if the company will be able to pay its short and long term debt using the current assets it has. The liquidity ratios calculated for the two companies are Current Ratio and Cash Ratio Current Ratio: The current ratio of a company is its ability to pay its current liabilities using the current assets owned by the company. It is calculated as current assets/ current liabilities. (Current Ratio) For the company Ryan Air, For the year 2013, Current Assets = 3763.6 M Current Liabilities = 1911.7 M Thus current ratio = 3763.6/ 1911.7 = 1.97 For the year 2014, Current Assets = 3444.3 M Current Liabilities = 2274.5 M Thus current ratio = 3444.3/ 2274.5 = 1.51 For the year 2015, Current Assets = 5742 M Current Liabilities = 3346 M Thus current ratio = 5742/ 3346 = 1.71 The current ratio for Ryan Air has decreased since the year 2013. Hence the company will not be able to cover its current debt as easily as before. For the company British Airways, For the year 2013, Current Assets = 2915 M Current Liabilities = 4627 M Thus current ratio = 2915/ 4627 = 0.63 For the year 2014, Current Assets = 3583 M Current Liabilities = 5502 M Thus current ratio = 3583/ 5508 = 0.65 For the year 2015, Current Assets = 3400 M Current Liabilities = 5700 M Thus current ratio = 3400/ 5700 = 0.59 The current ratio for British Airways has declined since the year 2013. Hence the company will not be able to cover its current debt as easily as before. Cash ratio: The cash ratio of a company is its ability to pay its current liabilities using the cash owned by the company. It is calculated as cash/ current liabilities. For the company Ryan Air, For the year 2013, Cash ratio = 1240.9/ 1911.7 = 0.65 For the year 2014, Cash ratio = 1730.1/ 2274.5 = 0.76 For the year 2015, Cash ratio = 1184.6/ 3346 = 0.35 The cash ratio for Ryan Air has decreased since the year 2013. Hence the company will not be able to cover its current debt as easily as before and the cash of the company has reduced significantly. For the company British Airways, In the year 2013, Cash ratio = 1850/ 4627 = 0.40 In the year 2014, Cash ratio = 2523/ 5502 = 0.45 In the year 2015, Cash ratio = 2047/ 5700 = 0.36 The cash ratio for British Airways has decreased since the year 2013. Hence the company will not be able to cover its current debt as easily as before. Efficiency ratios: The efficiency ratio helps in finding if the company can use its resources efficiently to generate profits. The two efficiency ratio calculated for the two companies are Total Assets Turnover ratio and Equity Turnover ratio. Total Assets Turnover ratio: It helps in finding how efficiently the company can use its assets to generate sales. It is given by the net sales/ Average total assets (Asset Turnover Ratio) For the company Ryan Air, For the year 2013, Total Assets turnover ratio = 4884/ [(9001 + 8943)/ 2] = 0.54 For the year 2014, Total Assets turnover ratio = 5036.7/ [(8943 + 8812.1)/ 2] = 0.57 For the year 2015, Total Assets turnover ratio = 5654/ [(8812.1 + 12185.4)/ 2] = 0.54 The Total Assets Turnover ratio for Ryan Air has not changed effectively since the year 2013. For the company British Airways, In the year 2013, Total Assets turnover ratio = 11421/ [(11136 + 11921)/ 2] = 0.99 In the year 2014, Total Assets turnover ratio = 11719/ [(11921 + 13426)/ 2] = 0.92 In the year 2015, Total Assets turnover ratio = 11333/ [(13426 + 15376)/ 2] = 0.79 The Total Assets turnover ratio for British Airways has decreased since the year 2013. Equity turnover ratio: It helps in finding how efficiently the company can use investment by owners to generate sales. It is given by the net sales/ Average equity. For the company Ryan Air, For the year 2013, Equity turnover ratio = 4884/ [(3306.7 + 3272.6)/ 2] = 1.48 For the year 2014, Equity turnover ratio = 5036.7/ [(3272.6 + 3285.8)/ 2] = 1.54 For the year 2015, Equity turnover ratio = 5654/ [(3285.8 + 4035.1)/ 2] = 1.54 The Equity turnover ratio for Ryan Air has increased since the year 2013. For the company British Airways, For the year 2013, Equity turnover ratio = 11421/ [(2255 + 868)/ 2] = 7.31 For the year 2014, Total Assets turnover ratio = 11719/ [(2255 +1900)/ 2] = 5.64 For the year 2015, Total Assets turnover ratio = 11333/ [(1900+ 4398)/ 2] = 3.59 The Equity turnover ratio for British Airways has decreased by since 2013. Thus from the above analysis it can be concluded that the performance of British airways is better than Ryan air. References Averkamp, H. (n.d.). What is a trial balance? Retrieved on August 6, 2016 from https://www.accountingcoach.com/blog/what-is-a-trial-balance Investopedia. (2013). Income Statement. Retrieved on August 6, 2016 from https://www.investopedia.com/terms/i/incomestatement.asp Investopedia. (n.d.). Balance Sheet. Retrieved from https://www.investopedia.com/terms/b/balancesheet.asp White Claire. (2015). Why are efficiency ratios important to investors. Retrieved from https://www.investopedia.com/ask/answers/032615/why-are-efficiency-ratios-important-investors.asp Chand, S. (2015). Ratio Analysis: Meaning, Classification and Limitation of Ratio Analysis. Retrieved 30 July, 2016, from https://www.yourarticlelibrary.com/financial-management/ratio-analysis-meaning-classification-and-limitation-of-ratio-analysis/29418 Investopedia. (n.d.). Profitability Ratios. Retrieved from https://www.investopedia.com/terms/p/profitabilityratios.asp MyAccountingCourse. (n.d.). Efficiency Ratios. Retrieved from https://www.myaccountingcourse.com/financial-ratios/efficiency-ratios MyAccountingCourse. (n.d.). Liquidity Ratios. Retrieved from https://www.myaccountingcourse.com/financial-ratios/liquidity-ratios

Analysing The Parable Of The Sower Religion Essays

Analysing The Parable Of The Sower Religion Essays Analysing The Parable Of The Sower Religion Essay Analysing The Parable Of The Sower Religion Essay Essay Topic: Parable Of the Sower The Parable of the Sower is found in each of the synoptic Gospels, every bit good in the Book of Thomas. But why? Each of the authors must hold seen fit to include it for some ground or another. Luke saw the manner in which the fable could be used to turn to the hapless people of his clip. His concerns for the financially impaired and castaway were some of the most outstanding facets of his Gospel. He was besides really concerned with the predicament of adult females during his clip. Although it is found in the New Testament, many Church Fathers have written commentaries on this parable, analyzing different facets of the narrative and explicating their symbolism. The Parable of the Sower is non a actual narrative of a husbandman ; it is a manner in which Jesus conveys the message of God s Kingdom to the people who were listening by comparing himself and the message of God to a sower and a seed. Luke does non bespeak where Jesus is when he is giving this parable. However, it is known that Jesus is going with his apostles and with a group of Galilean adult females. This same group of adult females will besides go with Jesus to Jerusalem and be informants to his decease. But for now, they are prolonging their gypsy teacher out of their ain agencies ( Just 130-137 ) . It is besides of import to observe that going with adult females in this manner is counter-intuitive when looking back on the civilization of the clip. Womans were practically second-class citizens and the fact that Jesus was conveying them with him fits really nicely into Luke s positions of adult females s rights and demands during the clip he was composing. The crowd that Jesus is prophesying to is a slightly random mixture of people. The transition states a great crowd gathered and people from town after town came to him ( Luke 8: 4 ) . This suggests that there is a consolidative subject behind Jesus narratives. His ability to learn is impressive, but the fact that he can make out to so many people, including Greeks, Romans, Jews and Gentiles, is intriguing. There are adult females in the crowd every bit good, which comes as another surprise. The normal Semite tradition would non let adult females in an country or session such as this. Besides, it is noted that Jesus household is in the crowd, waiting to see him. He responds, stating that My female parent and my brothers are those who hear the word of God and make it ( Luke 8: 21 ) . This implies that Jesus has cut some of his secular ties and that the 1s who act in conformity to God s will is his household. This subdivision of the book consists of two chief parts: the parable and Jesus account of the parable. Jesus helps his adherents to understand his words, yet still uses a big sum of symbolism when he talks. For illustration, he spoke often about ears. Ears, in a scriptural context, frequently represent the credence or rejection God s word ( Macmillan Dictionary ) . Harmonizing to Cyril of Alexandria, Jesus clearly divides people into two classs: those who have been given by God cognition of the enigmas of the land, and the remainder, who do non cognize the enigmas ( Just 130-137 ) . Cyril is in understanding with the symbolic impression of ears because both transitions seem to split the audience into two cantonments: those who have heard or accepted God s word and those who have non. Both of these thoughts are utile in explicating this transition because Jesus subsequently says Let anyone with ears to hear listen, ( Luke 8: 8 ) proposing that anyone who has the capacity to hear and that is willing to understand and accept God s message should listen to his words. Basil the Great says that the ear gives entree to the bosom and the interior individual ( Just 130-137 ) . In this sense, the ears are an effectual manner of making a individual. By sharing the message of God, Jesus is efficaciously seeding the seeds of a fledgeling faith. Another word that is often used in the transition is seed. The seed, though it is chiefly used for agricultural intents, is described to exemplify forms of growing in the land of God ( Macmillan Dictionary ) in scriptural texts. In this instance, the seed is supposed to stand for the word of God and how it is received among the assorted peoples of the clip. Cyril of Alexandria says, in add-on to placing the seed as the Word of God, Jesus besides implies that the birds are the Satan, who snatches the good seed on the way ( Just 130-137 ) . The Satan is snaping the good seed by taking from the memory the words of the catechetical talks, says Symeon the New Theologian. Even the objects that impede the seeds growing on the way, such as the dry land and the irritants have implicit in significances. Ephrem says that the thankless psyche is like a tract for immorality and that the Word of God finds difficult dirt during times of persecution ( Just 130-137 ) . In this subdivision, Ephrem is indicating out that it is hard for the Word of God to distribute during times of utmost persecution. Peoples will be less likely to hear the Word if there is a solid menace of decease attach toing it. If the seed is the word of God, so the sower, the one distributing the seed, must be Jesus. Many Church Fathers wrote commentaries refering this portion of Luke s Gospel. They all tend to hold that Jesus was the sower in this fable. Harmonizing to Clement of Alexandria, he ( Jesus ) is the lone agriculturist of the dirt from the foundation of the existence. Cyril of Alexandria says Jesus is the sower who sows the seeds ( Just 130-137 ) . Even Origen seemed to hold, composing that Seed should non be sown beside the manner but in the manner itself, which is Jesus, who is the Way ( Just 130-137 ) . These three interpreted the parable to intend that Jesus is the chief figure of the parable. The sower is responsible for the future growing of the works and is supposed to works the seed where he thinks it will outdo flourish. If Jesus is the sower, it is his duty to make his best to give the seed a proper topographic point to get down and to assist the word of God spread every bit rap idly as possible. The Parable of the Sower is an of import message. However, it is known that Luke was non an eyewitness to most of Jesus ministries. Therefore, many of his histories must hold been taken from others. Because he is a secondary beginning, there are many differences in entering between his Gospel and the others. The disagreements normally concern what Jesus really said. For illustration, the Gospel of Matthew provinces that the individual who is like the seed sown along the way does non understand the word of God and is hence susceptible to the evil 1. However, Luke suggests that the word of God is stolen and that the people are non given the chance to understand it ( Hultgren 180-202 ) . The difference is that Matthew writes that a individual ( remarkable ) does non understand the word of God, where Luke suggests that the people ( plural ) are non given the word so hence they are robbed of the chance to understand God s message. Luke writes so that the people who are hapless or friendl ess can associate more readily to Christian beliefs. If they think that they are downtrodden because they have non been exposed to the message, they are more likely to accept the message in hopes of a better hereafter. Another facet that should be examined is the differences between the relations of the parable. The narrative appears in all three of the Synoptic Gospels, every bit good as the Coptic Gospel of Thomas. There are non any serious textual and translational jobs between the texts, aside from the aforesaid disagreements refering what Christ really said. However, the order in which the fables were written is evident. After analyzing verbal similarities between the Gospels, it can be concluded that both Matthew and Luke based their relation of the parable on Mark s version. Matthew writes in a really similar manner, which would bespeak that he drew his stuff from Mark. Luke s version is much shorter than Mark s ( Hultgren 180-202 ) . This shows that he borrowed stuff from Mark because it would be hard for him to compose a longer version of a narrative that he did non informant. The Parable of the Sower is one of the narratives that is used in each of the Synoptic Gospels. It has values that each of the authors can pull strings to suit their docket. Luke used the parable as a manner to turn to the demands of the hapless, the downtrodden, the castaway and the adult females. By using what Jesus said and somewhat altering the diction, he was able to link the message of God to the people with which he was concerned. He was a talented author with much more literary pattern than most of the people during his clip. However, the narrative that he relays about Jesus interactions with the hapless people have been the topic of examination by tonss of scriptural bookmans. Church Fathers look into fables like this one in order to understand the deeper significance behind the Word of God. It is this examination that displays the writers single concerns with the people of the clip. Luke s feelings toward the hapless and oppressed are highlighted by authors such as Origen and Cyril of Alexandria as they dig deep into the symbolism of Luke s authorship. However, this parable sheds another visible radiation on Jesus, demoing him as a instructor who accepts those who follow God s will as his household. The narrative that Luke portions is non about a husbandman and a seed ; it is about Jesus and his message. What we choose to make with that message now is all that affairs.

Analysing The Parable Of The Sower Religion Essays

Analysing The Parable Of The Sower Religion Essays Analysing The Parable Of The Sower Religion Essay Analysing The Parable Of The Sower Religion Essay Essay Topic: Parable Of the Sower The Parable of the Sower is found in each of the synoptic Gospels, every bit good in the Book of Thomas. But why? Each of the authors must hold seen fit to include it for some ground or another. Luke saw the manner in which the fable could be used to turn to the hapless people of his clip. His concerns for the financially impaired and castaway were some of the most outstanding facets of his Gospel. He was besides really concerned with the predicament of adult females during his clip. Although it is found in the New Testament, many Church Fathers have written commentaries on this parable, analyzing different facets of the narrative and explicating their symbolism. The Parable of the Sower is non a actual narrative of a husbandman ; it is a manner in which Jesus conveys the message of God s Kingdom to the people who were listening by comparing himself and the message of God to a sower and a seed. Luke does non bespeak where Jesus is when he is giving this parable. However, it is known that Jesus is going with his apostles and with a group of Galilean adult females. This same group of adult females will besides go with Jesus to Jerusalem and be informants to his decease. But for now, they are prolonging their gypsy teacher out of their ain agencies ( Just 130-137 ) . It is besides of import to observe that going with adult females in this manner is counter-intuitive when looking back on the civilization of the clip. Womans were practically second-class citizens and the fact that Jesus was conveying them with him fits really nicely into Luke s positions of adult females s rights and demands during the clip he was composing. The crowd that Jesus is prophesying to is a slightly random mixture of people. The transition states a great crowd gathered and people from town after town came to him ( Luke 8: 4 ) . This suggests that there is a consolidative subject behind Jesus narratives. His ability to learn is impressive, but the fact that he can make out to so many people, including Greeks, Romans, Jews and Gentiles, is intriguing. There are adult females in the crowd every bit good, which comes as another surprise. The normal Semite tradition would non let adult females in an country or session such as this. Besides, it is noted that Jesus household is in the crowd, waiting to see him. He responds, stating that My female parent and my brothers are those who hear the word of God and make it ( Luke 8: 21 ) . This implies that Jesus has cut some of his secular ties and that the 1s who act in conformity to God s will is his household. This subdivision of the book consists of two chief parts: the parable and Jesus account of the parable. Jesus helps his adherents to understand his words, yet still uses a big sum of symbolism when he talks. For illustration, he spoke often about ears. Ears, in a scriptural context, frequently represent the credence or rejection God s word ( Macmillan Dictionary ) . Harmonizing to Cyril of Alexandria, Jesus clearly divides people into two classs: those who have been given by God cognition of the enigmas of the land, and the remainder, who do non cognize the enigmas ( Just 130-137 ) . Cyril is in understanding with the symbolic impression of ears because both transitions seem to split the audience into two cantonments: those who have heard or accepted God s word and those who have non. Both of these thoughts are utile in explicating this transition because Jesus subsequently says Let anyone with ears to hear listen, ( Luke 8: 8 ) proposing that anyone who has the capacity to hear and that is willing to understand and accept God s message should listen to his words. Basil the Great says that the ear gives entree to the bosom and the interior individual ( Just 130-137 ) . In this sense, the ears are an effectual manner of making a individual. By sharing the message of God, Jesus is efficaciously seeding the seeds of a fledgeling faith. Another word that is often used in the transition is seed. The seed, though it is chiefly used for agricultural intents, is described to exemplify forms of growing in the land of God ( Macmillan Dictionary ) in scriptural texts. In this instance, the seed is supposed to stand for the word of God and how it is received among the assorted peoples of the clip. Cyril of Alexandria says, in add-on to placing the seed as the Word of God, Jesus besides implies that the birds are the Satan, who snatches the good seed on the way ( Just 130-137 ) . The Satan is snaping the good seed by taking from the memory the words of the catechetical talks, says Symeon the New Theologian. Even the objects that impede the seeds growing on the way, such as the dry land and the irritants have implicit in significances. Ephrem says that the thankless psyche is like a tract for immorality and that the Word of God finds difficult dirt during times of persecution ( Just 130-137 ) . In this subdivision, Ephrem is indicating out that it is hard for the Word of God to distribute during times of utmost persecution. Peoples will be less likely to hear the Word if there is a solid menace of decease attach toing it. If the seed is the word of God, so the sower, the one distributing the seed, must be Jesus. Many Church Fathers wrote commentaries refering this portion of Luke s Gospel. They all tend to hold that Jesus was the sower in this fable. Harmonizing to Clement of Alexandria, he ( Jesus ) is the lone agriculturist of the dirt from the foundation of the existence. Cyril of Alexandria says Jesus is the sower who sows the seeds ( Just 130-137 ) . Even Origen seemed to hold, composing that Seed should non be sown beside the manner but in the manner itself, which is Jesus, who is the Way ( Just 130-137 ) . These three interpreted the parable to intend that Jesus is the chief figure of the parable. The sower is responsible for the future growing of the works and is supposed to works the seed where he thinks it will outdo flourish. If Jesus is the sower, it is his duty to make his best to give the seed a proper topographic point to get down and to assist the word of God spread every bit rap idly as possible. The Parable of the Sower is an of import message. However, it is known that Luke was non an eyewitness to most of Jesus ministries. Therefore, many of his histories must hold been taken from others. Because he is a secondary beginning, there are many differences in entering between his Gospel and the others. The disagreements normally concern what Jesus really said. For illustration, the Gospel of Matthew provinces that the individual who is like the seed sown along the way does non understand the word of God and is hence susceptible to the evil 1. However, Luke suggests that the word of God is stolen and that the people are non given the chance to understand it ( Hultgren 180-202 ) . The difference is that Matthew writes that a individual ( remarkable ) does non understand the word of God, where Luke suggests that the people ( plural ) are non given the word so hence they are robbed of the chance to understand God s message. Luke writes so that the people who are hapless or friendl ess can associate more readily to Christian beliefs. If they think that they are downtrodden because they have non been exposed to the message, they are more likely to accept the message in hopes of a better hereafter. Another facet that should be examined is the differences between the relations of the parable. The narrative appears in all three of the Synoptic Gospels, every bit good as the Coptic Gospel of Thomas. There are non any serious textual and translational jobs between the texts, aside from the aforesaid disagreements refering what Christ really said. However, the order in which the fables were written is evident. After analyzing verbal similarities between the Gospels, it can be concluded that both Matthew and Luke based their relation of the parable on Mark s version. Matthew writes in a really similar manner, which would bespeak that he drew his stuff from Mark. Luke s version is much shorter than Mark s ( Hultgren 180-202 ) . This shows that he borrowed stuff from Mark because it would be hard for him to compose a longer version of a narrative that he did non informant. The Parable of the Sower is one of the narratives that is used in each of the Synoptic Gospels. It has values that each of the authors can pull strings to suit their docket. Luke used the parable as a manner to turn to the demands of the hapless, the downtrodden, the castaway and the adult females. By using what Jesus said and somewhat altering the diction, he was able to link the message of God to the people with which he was concerned. He was a talented author with much more literary pattern than most of the people during his clip. However, the narrative that he relays about Jesus interactions with the hapless people have been the topic of examination by tonss of scriptural bookmans. Church Fathers look into fables like this one in order to understand the deeper significance behind the Word of God. It is this examination that displays the writers single concerns with the people of the clip. Luke s feelings toward the hapless and oppressed are highlighted by authors such as Origen and Cyril of Alexandria as they dig deep into the symbolism of Luke s authorship. However, this parable sheds another visible radiation on Jesus, demoing him as a instructor who accepts those who follow God s will as his household. The narrative that Luke portions is non about a husbandman and a seed ; it is about Jesus and his message. What we choose to make with that message now is all that affairs.

Threat of Anne Hutchinson essays

Threat of Anne Hutchinson essays Anne Hutchinson went against the assumptions of what women should do in her time. She held meetings in her home giving her views of her extremist Puritan beliefs, which many were against. Anne Hutchinson was the same type of threat to the Massachusetts Bay colony just like any other antinomian, except she was much more influential, thus more dangerous than many other individual previous antinomians. Deputy Governor testimony accused Hutchinson of being an antinomian. He stated, ...Mrs. Hutchinson hat so forestalled the minds of many by their resort to her meeting that now she hath a potent party in the country. Now if all these things have endangered us as from that foundation and if she particular hath disparaged all our ministers in the land that they have preached a covenant of works, and only Mr. Cotton a covenant of grave, why this is not to be suffered... He was accusing her of exactly what antinomian, who were also called Puritan extremists. The ministers and church held most of government power in Massachusetts Bay colonies around that time in the mid 1600s. Having been accused of being an antinomian, she was trying to overthrow the power of the ministers, thus trying to overthrow the government as well, which is a threat the community in that time and place. Several ministers stated that Hutchinson had come and accused all of them, except John Cotton, of preachin g covenant of works, which supports what Deputy Governor claimed. Although Anne Hutchinson denied this allegations, it seems that the Governor still took these testimonies against her, because the words of a minister werent considered to be anything but the truth to those who followed their religion and were not antinomians. Mr. Cotton had to testify. Although he tried to defend Hutchinson, because of how she saw him as the only good minister among those she was talking to. Her words did make him feel uncomfortable in fr ...

System analysis and design Coursework Example | Topics and Well Written Essays - 1500 words - 1

System analysis and design - Coursework Example The system is supposed to work in the construction industry where it is supposed to allow for easier recording of the different equipments. It is also supposed to allow for the generation of the different reports suiting the needs of the users. The workers carried an analysis of the existing manual systems in order to come up with a diagram of the new systems. Different mode of data collection were used which included questionnaires and interviews. Interviewees were supposed to be the people who were participating in the current manual system and managers of the organization. To make sure correct information was given, first the interviewees were taught of the importance of the information that they were providing, and the need of it being correct. The answers given during the interviews were recorded, and the system design was drawn. To make sure that the system requirements had been captured in the system design, the experts visited a neighboring company by the name John contractors, who had a similar system implemented the previous year. This enabled us to learn some of the problem that was encountered by the team after deployment and improvements that were suggested. After the analysis of the current system, the team had to come up with a design of the online system. We had also to come up with the implementation mode which was arrived at that the system should be web based and have a database. The design took into consideration the different modules and requirements of the system which had been supplied to us in the specification document. Owing to security measures and need of availability of the system, it was to be designed in a way that it was to run from a server within the organization. The system included different levels of users who included the managers and the subordinate staff. 1. Offer security of information- The system ensured this by requiring people to log in before accessing it. This is made possible by having a

BA3-Inter-Professional Studies Essay Example | Topics and Well Written Essays - 3250 words

BA3-Inter-Professional Studies - Essay Example by members of different professions and/or agencies work together to provide integrated health and/or social care for the benefit of service users†(Barrett et al, 2005). Hence, such an agency collaborate the efforts of different professionals to build a safe zone, shelter and liveable environment for minority groups, underprivileged people or homeless population (due to immigration, family loss, orphanage or any other cause). The cause of such charitable organizations attracts my ethical, moral and social concerns. I personally feel motivated to work with them and make this world a better place to live for those who are not satisfied with their lives for being deprived of the basic human needs. I believe in equality, unbiased environment, equal human rights, needs and wants, grave diversity issues, anti-discrimination and legitimacy of human rights in the light of law and morality. Hence, I am a strong supporter of inter-professional work and agencies. I am going to explain my views about the charitable organizations and their duties and my personal experiences while working with Greater Manchester Immigration Aid Unit (GMIAU) during my placement. This agency, where I am on my placement is an Immigration Legal Aid Unit called GMIAU. I had to work on some cases that were referred to me. During the practical experience, I learned about organizational structure, running mechanisms and issues that arose while conducting the social work. There are many complexities that I observed which relate to equality in providing the charitable services to all the people who deserve them. I am going to discuss organizational structure of GMIAU, its issues related to culture and other issues that were there regarding equality and diversity. I received case referrals from the legal team- caseworkers, senior caseworkers and solicitors. The cases that were referred to me are related to social issues that service users need. The primary role is to empo wer the service user and help

Research Journal Based on Personal Experience and Observation Assignment

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Human Resources in Call Centre Industry

Human Resources in Call Centre Industry In todays world the biggest challenges for any organisation to manage its human resource. Mathis (2008) India is the second best economy in the world (after china) for its growth rate (Nassimbeni and Sartor, 2008). In fact Indias GDP at 9.4 Per cent was the second fastest growing GDP after china in 2007 08. As per Reserve bank of India (RBI). The Researcher Specifically looking at the employees and HR Professional of Epicenter Technology. In Indian call centre industry increasing rapidly which help to generate new employment in the country but same time employee turnover rate also increase in call centre and BPO industry. To reduce this high level of attrition is very essential for HR professional because company pay lucrative amount for employee training and development. HR profession can motivate employee by different techniques and can reduce employee turnover loss of organisation. So author will be conducting a research to investigate the challenges faced by HR professional to motivate employees in call centre of Epicenter Technology. At the same time, despite these major strides, the IT BPO sector is facing significant challenges that could impact its future growth if corrective actions are not taken. (Budwar et al., 2006). BPO firms are looking to increase the overall productivity, efficiency and competitiveness of their processes, which can result in huge gains. According to the NASSCOM Everes Study, The Indian BPO sector has been growing at more than 35 % over the past three years, FY 2005-08. In this speedily going industry employee attrition level also higher in BPO sector. Attrition remains an enormous challenge, as the average BPO attribution rate was 30-35 per cent in the last few years. A NASSCOM-Hewitt Associates survey shows that the cost of attrition is one and a half times the annual salary of an employee. Costs are due to loss of productivity, temporary replacement, loss of knowledge and new recruitment and training.HR manger keep trying to make down attrition level by giving training, effective wo rk environment and conducting a research to review rewards, bonus or other incentives and career promotion. Epicenter Technology serves multi types business process outsourcing to organisation spread all over the global to achieve high services with maintains balance cost management. Epicenter Technology provides business process outsourcing to fortune 500 companies from different countries. Epicenter Technology is one of the leading call centre which serve telemarketing and customer service. Epicenter Technology provides Business task outsourcing for global customer. Epicenter Technology mainly focuses on their employee and customer. Epicenter Technology believes team work and continuous improvement which is necessary element success of organisation. Epicenter also believes in high standard of quality and innovation. Epicenter Technology derives low motivation levels which directly reflect on employee satisfaction toward their work. Epicenter Technology is the leading customer contact centres which engage with collections, sales, Telemarketing and customer service. Epicenter Technology believes that employee are biggest assets of organisation and they always their priority. Epicenter Technology is paying a lucrative amount in their personal development and growth which is direct helps employee to future career option. Company believes effective team work and effective training is require to achieve higher service level in work. Company spend higher amount of money to provide training new employees as well as promoted employees. Some employee quit the job to dissatisfaction in job and low level of motivation. Employees are the main driver of any organisation. If employees do not know about their responsibility and they should not know about organisational goal and what organisation want from employee than it is directly affect organisation productivity. It is also necessary to focus on slow learner employee. HR professional conduct special training programme for slow learner and give them more time to grasping skills so that do not feel like looser because of slow learning. It is necessary that HR manager choose right talent to achieve organisational goal. It is HR manager responsibility to check performance of employee and if employee is not performing better then find a best way through employee can give their best performance to achieve high quality standard. Human Resource Management can play a vital role to motivate employee in right way. Epicentre Technology is doing multi task and it is very difficult to manage all task and high level of emotional staff. When conflict is arise in different tasks same time and problem resolution by HR professional necessary. This high expectation which directly reflect performance of employee and same time motivate employee is challenging job in call centre. BENEFITS OF THE RESEARCH ACADEMIC Student can get benefit from this research for their career perspective. Call centre and BPO industries are rapidly growing so it required more skill and knowledgeable employee. This findings will help student can implement the outcome in future job in call centre which will improve quality and productivity of company. Researcher want to growth of call centre industry remain sustainable for that researcher believe that finding of this research will help to human resource management to solve problem of employee motivation. PERSONAL The main motive behind this study is that researcher has own interest on call centre industry and author personally believe that in this 21st century this industry has tremendous opportunity to grow and research has a dream to be successful HR Professional of call centre industry. This is very interesting for to know more about call centre industry and evaluate their problems. BUSINESS Researcher believes that Management is the main part of any industry and Management active role can directly affect services provide to the client. Management always try to find that employees are satisfied and keep monitor all process of organisation. As earlier said that researcher has personal interest in call centre industry. Researcher observe that large amount of employee leave the company in very short time so what HR Professional can do to motivate employee in call centre which improve quality of call centre. This Research helps to understanding of HR profession facing difficulty in order to motivate employee and try to find out what are the necessary measure is require to resolve this problem when working as a HR professional in call centre. It will help to understand current motivation technique that use HR professional and their effectiveness and how to improve this motivation technique. This Research will help to emerging HR professional who wants to work in call centre who already work in HR professional that get more aware about call centre difficult issue and know how to resolve this issue through this research. Company can improve their employee satisfaction basis on job by HR professional using effective motivation technique for employee who is directly affected on company performance and productivity. So through this research company get more powerful workforce. This research will decrease stress and emotional burnout of employee and it acknowledged employee to deliver better performance. 1.1 RESEARCH OBJECTIVE To analyse the factors that HR professional are facing in order to motivate employees in call centre of Epicenter Technology To evaluate Motivation techniques that are currently used by HR professional in call centre of Epicenter Technology Developing and Recommendation to improve motivation technique by HR professional in call centre of Epicenter Technology 1.2 RESEARCH QUESTION What is factors that HR Professional is facing in order to motivate employees in Call Centre of Epicenter Technology? What are motivation techniques that are currently used by HR professional in call centre of Epicenter Technology? How to improve motivation technique by HR professional in call centre of Epicenter Technology? 2.0 LITERATURE REVIEW Companys marketing strategies alone cant make it successful, the companys most valuable assets are their people and to manage the people efficiently it is also important to have a group of people to look after all the other people of the organisation and i.e. Human Resource Team of the organisation. The efficiency of the business is directly linked with the efficient functionality of Human resource Department. In order to expect better results it is necessary to make sure that the staffs are motivated enough. Motivation is mandatory for every individual who undertakes a task. Motivation can be of different type such as positive, subtle, tangible or intangible. Motivation is sought of internal power that encourages a person to achieve specific things in life. Motivation definition: weiner (1935), defines motivation as a search for determinants of human activity. (Buford, Bederian, Lindner, 1995), agree that motivation compels a human activity to perform in certain manner to achieve unmet goals. An organization will have to motivate an employee right through the day he joins the company. Every employee has first been a new comer and at that stage he wants to learn the tasks of his new job and once he has learnt the task he develops self-confidence to attain a faviourable level of job performance.(Feldman 1981) Even Fisher (1982, 1986) agreed on the task mastery for a new employee to become comfortable and successful in the organisation. Employee are expected to work in groups or team rather performing tasks individually and the indicator of successful team work would be getting along with the team members and immediate team supervisor, following the norms and values of the team and adjusting to group culture. (Feldman, 1981; Fisher, 1986) Fisher (1996) and Schein (1978) agreed that apart from working in groups another important aspect of socialisation is personal learning. So at the initial stages an employee tries to learn the type of individual he is and he will organize himself to perform within the organization 2.1 THEORY X and THEORY Y Douglas McGregors theory X and theory Y are very essential for the research as he has discussed the human behaviour in organisation. McGregor (1960) has made an assumption in Theory X that it is human behaviour, whenever and however way possible to avoid work in every possible way they can in their control. In todays competitive environment where there is a constant threat to our call centres and BPOs that they might lose their contract to china or Philippines, it is very important that company reaches the benchmark set by the clients and even try to exceed the set benchmark. However, if the employees are not motivated enough towards achieving goal, than these could directly reflect on the productivity of the organisation in terms of poor service quality. McGregor (1960) has emphasised that management should control and threaten the poor performing employees to work hard towards meeting their individual SLAs (service Level Agreement) However McGregor (1960) further clarifies that would be a set of people who doesnt want to change because they do not want to take the responsibility or ownership of the work assigned. It is a human tendency to stay clear and unambiguous so that they feel secure at work. In the Theory Y McGregor (1960) is trying to look at the other side of the human behaviour by taking an example of people who consider their job as their own business. In this theory employee consider jobs as natural as play and rest. This kind of employee believes in same or more amount physical mental effort in their work as they would in their private lives. According to McGregor (1960) has made an assumption that the control and punishment should not be the only mechanism to force the employees to perform well in their SLAS. Employees should be motivated through an effective Human Resource Management team otherwise they would be self-directed towards the foal of the company. McGregor (1960) à ¢Ã¢â€š ¬Ã…“Job satisfaction is the key to engaging employees and ensuring their commitmentà ¢Ã¢â€š ¬? Different people perform different level of job, some may be easy and others may be extremely stressful due to the nature of the job, for example an employee working for a sales process which is a target driven job. On the other hand there might be person working for a customer service where there is no target but still this person could in more distressed if there is no proper motivating and rewarding activities initiated by the Human Resource Team, otherwise the work becomes very monotonous and there is no motivation to strive harder to achieve better results. Management should make an initiative to promote the best performing employee so that there is a sense of seeking responsibility and ownership in order to climb up the ladder. As per McGregor (1960) such people are imaginative and creative and management should make every effort to use them for solving problems at work. This kind of approach can be conducive to managing professionals and participative complex problem solving. After evaluating Theory X and Theory Y, McGregor (1960) Preferred to adopt Theory Y as an efficient model to motivate employees in the organisation because Theory Y assumes that employee seeks responsibility: every manager wants their team to work as family who cares about the business rather than someone in Theory X who just wants to come to work 9 to 6, go home and enjoy. However it seems that it would not be viable to implement this model in large scale operations. 2.2 THEORY Z (Ouchi 1981) Ouchi (1981) developed new theory which is based on the Japanese and American companies and used Theory z management styles. There is contrast in operating philosophies between Japanese and American organizations is quite revealing. Japan is also well known for its technology but according to Ouchi (1981) their success was due to their exceptional management styles. Japanese organisations offer virtually lifelong employment while American organizations are characterized by comparatively short-term employment. Japanese organisation invited employee in decision making process and individually employee get responsibility so they can learn to take responsibility of every issue which is related with them while Rapid turnover requires quick evaluation and promotion, with considerable employee unrest if a promotion takes more than three years in American organisation. Raises and promotions can be evaluated after certain intervals that depend on employee performance. Most deserving employee always gets promotion whereas because of competition for promotions and raises, people tend to work alone rather than collaboratively in American organisation. Career paths include learning all functions rather than one function and Organization mechanisms for control of worker behaviour are implied in Japanese organisation. In contrast, Career path tend to be highly specialized. Standardization is the main method of control, and integration and coordination are almost impossible because of the emphasis on specialization in American organisation. Japanese organisation decision making is a collective activity and responsibility is also collective. American organisation decision making and responsibility are individual matters. The organization concerns tend to be segmented and impersonal rather than holistic. 2.3 TWO FACTOR THEORY One of the earliest researchers in the area of job redesign as it affected motivation was Frederick Herzberg (Herzberg, 1959). Based on survey, Herzberg discovered that employee tended to describe satisfying experience in term of factors that were intrinsic to the content of the job itself. These factors were known as motivators and included such variables as achievement, recognition, the work itself, responsibility, advancement, and growth. Conversely, dissatisfying experiences, known as a hygiene factors, largely resulted from extrinsic, non-job-related factors, such as company policies, salary, co-worker relations, and supervisory style (Steers, 1983). Herzberg argued based on these results that eliminating the cause of dissatisfaction (through hygiene factor) would not result in a state of the use of motivators. Kreitner Kinicki (1998) highlight one of Herzbergs findings, where managers rather than giving employee additional task of similar difficulty which consists of giving workers more responsibility. This is where employees take on tasks normally performed by their supervisors. TYPICAL HIGIENE AND MOTIVATIONAL FACTOR Working Conditions: Work place is important part of any organisational success. Just to motivate employee by rewarding is not enough when working condition is not sufficient. It is always necessary that good working condition through employee get more satisfaction in work place. Quality of Supervision: supervisor or manager need to guide new employee at work and give them proper training about work. It is very essential to provide good quality training when organisation requires high level of performance. Safety: health and safety is very important aspect work place. Health and medical benefit also gives employee to high level of satisfaction which is directly affect performance. Salary and Bonus: It is necessary to know required job position get relevant salary to match perfectly fit in organisation. However, employee need to motive by giving bonus to good performing talent. Status: It is HR professional responsibility to make proper system for talented employee so employee get promotion time to time depending on their performance. Company policies and administration: company policies is reflect company objectives so policies should be more clear for all employee and administrative work require more transparent so everyone know what going on in organisation. Interpersonal relationship: Human Resource Manager need to organise meeting and feedback session with management and employee so any problem related work can be resolve. Fairness and Equity: With increased effort and higher performances employees also expect to be rewarded more significantly than counterparts who provide output at or below the norm. An outcome or reward that is perceived to be highly significant and important can result in higher level of effort and performance by the individual employee. Effort: Even though employees may exert higher levels of effort into a position based on perceived significant reward, this could be a short-term success if the task itself does not challenge or provides satisfaction to the employee. 2.4 HIERARCHY OF NEEDS (Maslow 1943) According to Stephens (2000), Maslow believed that human being aspire to become self-actualizing and viewed human potential as a vastly underestimated and unexplained territory. PHYSIOLOGICAL NEEDS Physiological needs: Every employee needs basic human physical need like Food, Water and Sleep etc. if this basic need is not satisfied than employees do not feel good in work place. However, employee cannot pay more attention on work and became ill or frustrate etc. HR Manager needs to concentrate on individually employee activities. HR Manager has to make sure that employee feel comfortable during work. It is important to know employee personal problem by maintaining good relation with employee. SAFETY NEEDS Company should inform their employee time to time what is going on organisation so employees feel more comfortable at work. HR Manager always make sure that individually all employees are safe and secure at work. If any employee feel unsecure with organisation than HR has to clear employee perception by discussing matter. NEED FOR LOVE AND BELONGING HR Manager create lively environment where can get positive relations between employee and manager as well as supervisors. Participation in work group shows electrifying confidence among workers. HR Manager to pay attention on motivate employee in the work place by rewards. HR can make sure that higher performing employee should appreciate by giving certificate of performance. ESTEEM NEEDS Within organisations, esteem needs reflect a motivation for recognition, and increase in responsibility, high status and credit for contributions to organization. NEED FOR SELF ACTUALIZATION Self-actualization needs: these needs include the need for self-fulfilment, which is the higher need category. The concern developing ones full potential, increasing ones competence and becoming a better person. Self-actualization needs can be met in the organization by providing people with opportunities to grow, be creative and acquire training for challenging assignments and advancement. Person can reach this level who completely focused on their work and he do not worried about what other think about him, he just concentrate in achieving target and set as a successful. ARGUMENT AGAINST THE THEORY Maslow (1943) stated that people, including employees at organizations, are motivated by the desire to achieve or maintain the various conditions upon which these basic satisfactions rest and by certain more intellectual desires. Humans are a perpetually wanting group. Ordinarily the satisfaction of these wants is not altogether mutually exclusive, but only tends to be. The average member of society is most often partially satisfied and partially unsatisfied in all of ones wants (Maslow, 1943). The implication of this theory provided useful insights for manager and other organization leaders. Another implication was for organisation to implement support programs and focus groups to help employees deal with stress, especially during more challenging times and taking the time to understand the needs of the respective employees (Kreitner, 1998). McGregor argued that work motivation was much more commonly underpinned by workers self-generated drive to better themselves and fulfil their own potential (à ¢Ã¢â€š ¬Ã…“Theory Yà ¢Ã¢â€š ¬?) McGregor argued that traditional organisational practice placed too much emphasis on the role of lower-order needs as motivators of workers behaviour. Aligned with this view, Herzberg recommended that managers should put their energies into providing avenues for the satisfaction of workers personal needs in order to get the best from them. A similar argument was also endorsed by other theorists, so that general message to emerge from needs-based research is that employees motivation will be greater to the extent that they are allowed to self-actualise, grow, and progress as individual. 2.6 EXPECTATION THEORY OF MOTIVATION (Vroom 1960) Vroom in 1964 developed the formal model of work motivation drawing on the work of other researches. There are three mental components that are seen as instigating and directing behaviour. There are referred to as valence, instrumentality and Expectancy. Vroom (1964) defined the term valence as the affective (emotional) orientations people hold with regard to outcomes. An outcome in this case is said to be positively valent for an individual if she/he would prefer having it or not. The most important feature of peoples valences concerning work related outcomes is that they refer to the level of satisfaction the person expects to receive from them, not from the real value the person actually drives from them. Work effort result in variety of outcomes, some of the directly and some of them indirectly and can include pay, promotion and other related factors. Vroom (1964) suggested linking instrumentality as probability belief linking one outcome (performance level) to other outcomes. According to vroom an outcome is positively valent if the person believes that it holds high instrumentality for the acquisition of positively valent consequences and avoidance of negatively valent outcomes. Expectancy is the strength of a persons belief about whether a particular outcome is possible. Vroom (1964) described expectancy beliefs an action-outcome associations held in the mind of individuals and stated that there a variety of factors that contribute to an employees expectancy perceptions about various level of job performance. The second variable that is relevant here is the concept of reward value or valence. This refers to the individuals perception of the value of the reward or outcome that might be obtained by performing effectively. Although most expectancy theories do not specify why certain outcomes have reward value, for the purpose of this paper I would like to argue that reward value of outcomes stems from their perceived ability to satisfy one or more needs. Specifically relevant here is the list of needs suggested by Maslow that includes security needs, social need, esteem needs and self-actualization needs. Expectancy theory states that motivation is a combined function of the individuals perception that effort will lead to performance and of the perceived desirability of outcomes that may result from the performance (Steers, 1983). Although there are several forms of this model, Vroom in 1964 developed the formal model of work motivation drawing on the work of other researches. Vroom (1964) defined the term valence as the effective (emotional) orientations people hold with regard to outcomes. An outcome in this case is said to be positively valent for a individual if she/he would prefer having it or not. The most important feature of peoples valences concerning work related outcomes is that they refer to the level of satisfaction the person expects to receive from them, not from the real value the person actually derives from them. As the other models, there is the emphasis on the level of motivation and the outcome of performance. Work effort results in a variety of outcomes, some of them directly, and some of them indirectly and can include pay, promotion, and other related factors. Vroom (1964) suggested linking instrumentality as a probability belief linking one outcome (performance level) to other outcomes. According to Vroom, an outcome is positively valent if the person believes that it holds high instrumentality for the acquisition of positively valent consequences and the avoidance of negatively valent outcomes. The third major component of the theory is referred to as expectancy (Pinder, 1984). Expectancy is the strength of a persons belief about whether a particular outcome is possible. Vroom (1964) described expectancy beliefs as action outcome associations held in the minds of individuals and stated that there a variety of factors that contribute to an employees expectancy perceptions about various level of job performance. 2.7 MCCLELLANDS ACHIVEMENT MOTIVATION THEORY McClellands work originated from investigating into the relationship between hunger needs and the extent to which imagery of food dominated through processes. From subsequent research McClelland identified four main arousal-based, and socially developed motives: The Achievement motive; The Power motive: The affilative motive; The Avoidance motive McClellands (1961) described the theory of needs focusing on three needs; achievement, power and affiliation. The need for achievement was defined as the drive to excel, to a set of standards, to strive to succeed. Achievement theories propose that motivation and performance vary according to strength of ones need for achievement (Kreitner, 1998) The need for achievement and is defined as a desire to accomplish something difficult. Kreitner Kinicki (1998) cite Murray (1994) explaining the need for achievement as mastering, manipulating or organizing physical objects, human beings or ideas. The need for affiliation suggested that people have the desire to spend time in social relationships, joining group and wanting to be loved. Individuals high in this need are not the most effective managers or leaders because they have a hard time to making difficult decisions without worrying about being disliked (Kreitner, 1998) The need of power reflect an individuals desire to influence, coach, teach or encourage others to achieve. Because effective managers must positively influence others, McClelland proposes that top managers should have a high need for power coupled with a low need for affiliation (Kreitner, 1998) 2.8 SUMMARY Employees are the main part of any organisation. Organisation success and failed ratio is depending on employee work performance. So it is necessary to improve employee moral time to time by motivating employee. Human resource department is directly associated with employee motivation. Any organisation or institution need people to carry out specific task so that the goal and objectives of that drivers people to behave in various ways and to seek to fulfil a variety of needs, employee need to know what makes their employees tick so that they can channel this energy toward certain outcomes. In todays competitive environment where there is a constant threat to our call centres and BPOs that they might lose their contact to china or Philippines. It is very important that company reaches the benchmark set by the clients and even try to exceed the set benchmark. However, if the employees are not motivated enough towards achieving the goal than these could directly reflect on the productivity of the organisation in terms of poor service quality. Maslows hierarchy of needs model consist of five levels where bottom level is physiological, safety, love, esteem and top level self actualisation. Physiological needs through HR professional provide basic requirement like water, coffee for employee, provide canteen facility and required break time during work so employee feel comfortable and deliver good performance. Safety needs through Management make sure health and safety of employee is very important for organisation. HR professional can provide free health check and medical insurance of employee which help to motivate employee. Maslows also derive love needs through It is directly related with organisation management and employee relation. It is necessary that mutual understanding between employee and manager is required which generate satisfaction in work. Esteem needs through It involves HR professional give particular responsibility or task to employee and when employee successfully completed task, HR professional appreciate employee and improve self confidence of employee. Self actualisation needs derive that employee and HR profession know their strength and come out best in work to achieve organisational objective. Herzberg (1966) developed this theory which is based on motivation factor and hygiene factor. According to Herzberg motivation is main key for employee to achieve higher level in the company while hygiene factor as not more relevant because employee not only satisfied with proper working condition and good salary base on their qualification. Typical hygiene factor derives employee cant perform well because working condition in the company is not good level. Health and safety is important when employee work in company it is necessary that HR professional conduct regular meeting with employee and deliver transparent policy for employee. Typical motivation factor derive that if employee achieve or complete task should be rewarded. Mc Clelland (1961) theory share need for achievement, power and affiliation. Need for achievement derive HR professional work as compa Human Resources in Call Centre Industry Human Resources in Call Centre Industry In todays world the biggest challenges for any organisation to manage its human resource. Mathis (2008) India is the second best economy in the world (after china) for its growth rate (Nassimbeni and Sartor, 2008). In fact Indias GDP at 9.4 Per cent was the second fastest growing GDP after china in 2007 08. As per Reserve bank of India (RBI). The Researcher Specifically looking at the employees and HR Professional of Epicenter Technology. In Indian call centre industry increasing rapidly which help to generate new employment in the country but same time employee turnover rate also increase in call centre and BPO industry. To reduce this high level of attrition is very essential for HR professional because company pay lucrative amount for employee training and development. HR profession can motivate employee by different techniques and can reduce employee turnover loss of organisation. So author will be conducting a research to investigate the challenges faced by HR professional to motivate employees in call centre of Epicenter Technology. At the same time, despite these major strides, the IT BPO sector is facing significant challenges that could impact its future growth if corrective actions are not taken. (Budwar et al., 2006). BPO firms are looking to increase the overall productivity, efficiency and competitiveness of their processes, which can result in huge gains. According to the NASSCOM Everes Study, The Indian BPO sector has been growing at more than 35 % over the past three years, FY 2005-08. In this speedily going industry employee attrition level also higher in BPO sector. Attrition remains an enormous challenge, as the average BPO attribution rate was 30-35 per cent in the last few years. A NASSCOM-Hewitt Associates survey shows that the cost of attrition is one and a half times the annual salary of an employee. Costs are due to loss of productivity, temporary replacement, loss of knowledge and new recruitment and training.HR manger keep trying to make down attrition level by giving training, effective wo rk environment and conducting a research to review rewards, bonus or other incentives and career promotion. Epicenter Technology serves multi types business process outsourcing to organisation spread all over the global to achieve high services with maintains balance cost management. Epicenter Technology provides business process outsourcing to fortune 500 companies from different countries. Epicenter Technology is one of the leading call centre which serve telemarketing and customer service. Epicenter Technology provides Business task outsourcing for global customer. Epicenter Technology mainly focuses on their employee and customer. Epicenter Technology believes team work and continuous improvement which is necessary element success of organisation. Epicenter also believes in high standard of quality and innovation. Epicenter Technology derives low motivation levels which directly reflect on employee satisfaction toward their work. Epicenter Technology is the leading customer contact centres which engage with collections, sales, Telemarketing and customer service. Epicenter Technology believes that employee are biggest assets of organisation and they always their priority. Epicenter Technology is paying a lucrative amount in their personal development and growth which is direct helps employee to future career option. Company believes effective team work and effective training is require to achieve higher service level in work. Company spend higher amount of money to provide training new employees as well as promoted employees. Some employee quit the job to dissatisfaction in job and low level of motivation. Employees are the main driver of any organisation. If employees do not know about their responsibility and they should not know about organisational goal and what organisation want from employee than it is directly affect organisation productivity. It is also necessary to focus on slow learner employee. HR professional conduct special training programme for slow learner and give them more time to grasping skills so that do not feel like looser because of slow learning. It is necessary that HR manager choose right talent to achieve organisational goal. It is HR manager responsibility to check performance of employee and if employee is not performing better then find a best way through employee can give their best performance to achieve high quality standard. Human Resource Management can play a vital role to motivate employee in right way. Epicentre Technology is doing multi task and it is very difficult to manage all task and high level of emotional staff. When conflict is arise in different tasks same time and problem resolution by HR professional necessary. This high expectation which directly reflect performance of employee and same time motivate employee is challenging job in call centre. BENEFITS OF THE RESEARCH ACADEMIC Student can get benefit from this research for their career perspective. Call centre and BPO industries are rapidly growing so it required more skill and knowledgeable employee. This findings will help student can implement the outcome in future job in call centre which will improve quality and productivity of company. Researcher want to growth of call centre industry remain sustainable for that researcher believe that finding of this research will help to human resource management to solve problem of employee motivation. PERSONAL The main motive behind this study is that researcher has own interest on call centre industry and author personally believe that in this 21st century this industry has tremendous opportunity to grow and research has a dream to be successful HR Professional of call centre industry. This is very interesting for to know more about call centre industry and evaluate their problems. BUSINESS Researcher believes that Management is the main part of any industry and Management active role can directly affect services provide to the client. Management always try to find that employees are satisfied and keep monitor all process of organisation. As earlier said that researcher has personal interest in call centre industry. Researcher observe that large amount of employee leave the company in very short time so what HR Professional can do to motivate employee in call centre which improve quality of call centre. This Research helps to understanding of HR profession facing difficulty in order to motivate employee and try to find out what are the necessary measure is require to resolve this problem when working as a HR professional in call centre. It will help to understand current motivation technique that use HR professional and their effectiveness and how to improve this motivation technique. This Research will help to emerging HR professional who wants to work in call centre who already work in HR professional that get more aware about call centre difficult issue and know how to resolve this issue through this research. Company can improve their employee satisfaction basis on job by HR professional using effective motivation technique for employee who is directly affected on company performance and productivity. So through this research company get more powerful workforce. This research will decrease stress and emotional burnout of employee and it acknowledged employee to deliver better performance. 1.1 RESEARCH OBJECTIVE To analyse the factors that HR professional are facing in order to motivate employees in call centre of Epicenter Technology To evaluate Motivation techniques that are currently used by HR professional in call centre of Epicenter Technology Developing and Recommendation to improve motivation technique by HR professional in call centre of Epicenter Technology 1.2 RESEARCH QUESTION What is factors that HR Professional is facing in order to motivate employees in Call Centre of Epicenter Technology? What are motivation techniques that are currently used by HR professional in call centre of Epicenter Technology? How to improve motivation technique by HR professional in call centre of Epicenter Technology? 2.0 LITERATURE REVIEW Companys marketing strategies alone cant make it successful, the companys most valuable assets are their people and to manage the people efficiently it is also important to have a group of people to look after all the other people of the organisation and i.e. Human Resource Team of the organisation. The efficiency of the business is directly linked with the efficient functionality of Human resource Department. In order to expect better results it is necessary to make sure that the staffs are motivated enough. Motivation is mandatory for every individual who undertakes a task. Motivation can be of different type such as positive, subtle, tangible or intangible. Motivation is sought of internal power that encourages a person to achieve specific things in life. Motivation definition: weiner (1935), defines motivation as a search for determinants of human activity. (Buford, Bederian, Lindner, 1995), agree that motivation compels a human activity to perform in certain manner to achieve unmet goals. An organization will have to motivate an employee right through the day he joins the company. Every employee has first been a new comer and at that stage he wants to learn the tasks of his new job and once he has learnt the task he develops self-confidence to attain a faviourable level of job performance.(Feldman 1981) Even Fisher (1982, 1986) agreed on the task mastery for a new employee to become comfortable and successful in the organisation. Employee are expected to work in groups or team rather performing tasks individually and the indicator of successful team work would be getting along with the team members and immediate team supervisor, following the norms and values of the team and adjusting to group culture. (Feldman, 1981; Fisher, 1986) Fisher (1996) and Schein (1978) agreed that apart from working in groups another important aspect of socialisation is personal learning. So at the initial stages an employee tries to learn the type of individual he is and he will organize himself to perform within the organization 2.1 THEORY X and THEORY Y Douglas McGregors theory X and theory Y are very essential for the research as he has discussed the human behaviour in organisation. McGregor (1960) has made an assumption in Theory X that it is human behaviour, whenever and however way possible to avoid work in every possible way they can in their control. In todays competitive environment where there is a constant threat to our call centres and BPOs that they might lose their contract to china or Philippines, it is very important that company reaches the benchmark set by the clients and even try to exceed the set benchmark. However, if the employees are not motivated enough towards achieving goal, than these could directly reflect on the productivity of the organisation in terms of poor service quality. McGregor (1960) has emphasised that management should control and threaten the poor performing employees to work hard towards meeting their individual SLAs (service Level Agreement) However McGregor (1960) further clarifies that would be a set of people who doesnt want to change because they do not want to take the responsibility or ownership of the work assigned. It is a human tendency to stay clear and unambiguous so that they feel secure at work. In the Theory Y McGregor (1960) is trying to look at the other side of the human behaviour by taking an example of people who consider their job as their own business. In this theory employee consider jobs as natural as play and rest. This kind of employee believes in same or more amount physical mental effort in their work as they would in their private lives. According to McGregor (1960) has made an assumption that the control and punishment should not be the only mechanism to force the employees to perform well in their SLAS. Employees should be motivated through an effective Human Resource Management team otherwise they would be self-directed towards the foal of the company. McGregor (1960) à ¢Ã¢â€š ¬Ã…“Job satisfaction is the key to engaging employees and ensuring their commitmentà ¢Ã¢â€š ¬? Different people perform different level of job, some may be easy and others may be extremely stressful due to the nature of the job, for example an employee working for a sales process which is a target driven job. On the other hand there might be person working for a customer service where there is no target but still this person could in more distressed if there is no proper motivating and rewarding activities initiated by the Human Resource Team, otherwise the work becomes very monotonous and there is no motivation to strive harder to achieve better results. Management should make an initiative to promote the best performing employee so that there is a sense of seeking responsibility and ownership in order to climb up the ladder. As per McGregor (1960) such people are imaginative and creative and management should make every effort to use them for solving problems at work. This kind of approach can be conducive to managing professionals and participative complex problem solving. After evaluating Theory X and Theory Y, McGregor (1960) Preferred to adopt Theory Y as an efficient model to motivate employees in the organisation because Theory Y assumes that employee seeks responsibility: every manager wants their team to work as family who cares about the business rather than someone in Theory X who just wants to come to work 9 to 6, go home and enjoy. However it seems that it would not be viable to implement this model in large scale operations. 2.2 THEORY Z (Ouchi 1981) Ouchi (1981) developed new theory which is based on the Japanese and American companies and used Theory z management styles. There is contrast in operating philosophies between Japanese and American organizations is quite revealing. Japan is also well known for its technology but according to Ouchi (1981) their success was due to their exceptional management styles. Japanese organisations offer virtually lifelong employment while American organizations are characterized by comparatively short-term employment. Japanese organisation invited employee in decision making process and individually employee get responsibility so they can learn to take responsibility of every issue which is related with them while Rapid turnover requires quick evaluation and promotion, with considerable employee unrest if a promotion takes more than three years in American organisation. Raises and promotions can be evaluated after certain intervals that depend on employee performance. Most deserving employee always gets promotion whereas because of competition for promotions and raises, people tend to work alone rather than collaboratively in American organisation. Career paths include learning all functions rather than one function and Organization mechanisms for control of worker behaviour are implied in Japanese organisation. In contrast, Career path tend to be highly specialized. Standardization is the main method of control, and integration and coordination are almost impossible because of the emphasis on specialization in American organisation. Japanese organisation decision making is a collective activity and responsibility is also collective. American organisation decision making and responsibility are individual matters. The organization concerns tend to be segmented and impersonal rather than holistic. 2.3 TWO FACTOR THEORY One of the earliest researchers in the area of job redesign as it affected motivation was Frederick Herzberg (Herzberg, 1959). Based on survey, Herzberg discovered that employee tended to describe satisfying experience in term of factors that were intrinsic to the content of the job itself. These factors were known as motivators and included such variables as achievement, recognition, the work itself, responsibility, advancement, and growth. Conversely, dissatisfying experiences, known as a hygiene factors, largely resulted from extrinsic, non-job-related factors, such as company policies, salary, co-worker relations, and supervisory style (Steers, 1983). Herzberg argued based on these results that eliminating the cause of dissatisfaction (through hygiene factor) would not result in a state of the use of motivators. Kreitner Kinicki (1998) highlight one of Herzbergs findings, where managers rather than giving employee additional task of similar difficulty which consists of giving workers more responsibility. This is where employees take on tasks normally performed by their supervisors. TYPICAL HIGIENE AND MOTIVATIONAL FACTOR Working Conditions: Work place is important part of any organisational success. Just to motivate employee by rewarding is not enough when working condition is not sufficient. It is always necessary that good working condition through employee get more satisfaction in work place. Quality of Supervision: supervisor or manager need to guide new employee at work and give them proper training about work. It is very essential to provide good quality training when organisation requires high level of performance. Safety: health and safety is very important aspect work place. Health and medical benefit also gives employee to high level of satisfaction which is directly affect performance. Salary and Bonus: It is necessary to know required job position get relevant salary to match perfectly fit in organisation. However, employee need to motive by giving bonus to good performing talent. Status: It is HR professional responsibility to make proper system for talented employee so employee get promotion time to time depending on their performance. Company policies and administration: company policies is reflect company objectives so policies should be more clear for all employee and administrative work require more transparent so everyone know what going on in organisation. Interpersonal relationship: Human Resource Manager need to organise meeting and feedback session with management and employee so any problem related work can be resolve. Fairness and Equity: With increased effort and higher performances employees also expect to be rewarded more significantly than counterparts who provide output at or below the norm. An outcome or reward that is perceived to be highly significant and important can result in higher level of effort and performance by the individual employee. Effort: Even though employees may exert higher levels of effort into a position based on perceived significant reward, this could be a short-term success if the task itself does not challenge or provides satisfaction to the employee. 2.4 HIERARCHY OF NEEDS (Maslow 1943) According to Stephens (2000), Maslow believed that human being aspire to become self-actualizing and viewed human potential as a vastly underestimated and unexplained territory. PHYSIOLOGICAL NEEDS Physiological needs: Every employee needs basic human physical need like Food, Water and Sleep etc. if this basic need is not satisfied than employees do not feel good in work place. However, employee cannot pay more attention on work and became ill or frustrate etc. HR Manager needs to concentrate on individually employee activities. HR Manager has to make sure that employee feel comfortable during work. It is important to know employee personal problem by maintaining good relation with employee. SAFETY NEEDS Company should inform their employee time to time what is going on organisation so employees feel more comfortable at work. HR Manager always make sure that individually all employees are safe and secure at work. If any employee feel unsecure with organisation than HR has to clear employee perception by discussing matter. NEED FOR LOVE AND BELONGING HR Manager create lively environment where can get positive relations between employee and manager as well as supervisors. Participation in work group shows electrifying confidence among workers. HR Manager to pay attention on motivate employee in the work place by rewards. HR can make sure that higher performing employee should appreciate by giving certificate of performance. ESTEEM NEEDS Within organisations, esteem needs reflect a motivation for recognition, and increase in responsibility, high status and credit for contributions to organization. NEED FOR SELF ACTUALIZATION Self-actualization needs: these needs include the need for self-fulfilment, which is the higher need category. The concern developing ones full potential, increasing ones competence and becoming a better person. Self-actualization needs can be met in the organization by providing people with opportunities to grow, be creative and acquire training for challenging assignments and advancement. Person can reach this level who completely focused on their work and he do not worried about what other think about him, he just concentrate in achieving target and set as a successful. ARGUMENT AGAINST THE THEORY Maslow (1943) stated that people, including employees at organizations, are motivated by the desire to achieve or maintain the various conditions upon which these basic satisfactions rest and by certain more intellectual desires. Humans are a perpetually wanting group. Ordinarily the satisfaction of these wants is not altogether mutually exclusive, but only tends to be. The average member of society is most often partially satisfied and partially unsatisfied in all of ones wants (Maslow, 1943). The implication of this theory provided useful insights for manager and other organization leaders. Another implication was for organisation to implement support programs and focus groups to help employees deal with stress, especially during more challenging times and taking the time to understand the needs of the respective employees (Kreitner, 1998). McGregor argued that work motivation was much more commonly underpinned by workers self-generated drive to better themselves and fulfil their own potential (à ¢Ã¢â€š ¬Ã…“Theory Yà ¢Ã¢â€š ¬?) McGregor argued that traditional organisational practice placed too much emphasis on the role of lower-order needs as motivators of workers behaviour. Aligned with this view, Herzberg recommended that managers should put their energies into providing avenues for the satisfaction of workers personal needs in order to get the best from them. A similar argument was also endorsed by other theorists, so that general message to emerge from needs-based research is that employees motivation will be greater to the extent that they are allowed to self-actualise, grow, and progress as individual. 2.6 EXPECTATION THEORY OF MOTIVATION (Vroom 1960) Vroom in 1964 developed the formal model of work motivation drawing on the work of other researches. There are three mental components that are seen as instigating and directing behaviour. There are referred to as valence, instrumentality and Expectancy. Vroom (1964) defined the term valence as the affective (emotional) orientations people hold with regard to outcomes. An outcome in this case is said to be positively valent for an individual if she/he would prefer having it or not. The most important feature of peoples valences concerning work related outcomes is that they refer to the level of satisfaction the person expects to receive from them, not from the real value the person actually drives from them. Work effort result in variety of outcomes, some of the directly and some of them indirectly and can include pay, promotion and other related factors. Vroom (1964) suggested linking instrumentality as probability belief linking one outcome (performance level) to other outcomes. According to vroom an outcome is positively valent if the person believes that it holds high instrumentality for the acquisition of positively valent consequences and avoidance of negatively valent outcomes. Expectancy is the strength of a persons belief about whether a particular outcome is possible. Vroom (1964) described expectancy beliefs an action-outcome associations held in the mind of individuals and stated that there a variety of factors that contribute to an employees expectancy perceptions about various level of job performance. The second variable that is relevant here is the concept of reward value or valence. This refers to the individuals perception of the value of the reward or outcome that might be obtained by performing effectively. Although most expectancy theories do not specify why certain outcomes have reward value, for the purpose of this paper I would like to argue that reward value of outcomes stems from their perceived ability to satisfy one or more needs. Specifically relevant here is the list of needs suggested by Maslow that includes security needs, social need, esteem needs and self-actualization needs. Expectancy theory states that motivation is a combined function of the individuals perception that effort will lead to performance and of the perceived desirability of outcomes that may result from the performance (Steers, 1983). Although there are several forms of this model, Vroom in 1964 developed the formal model of work motivation drawing on the work of other researches. Vroom (1964) defined the term valence as the effective (emotional) orientations people hold with regard to outcomes. An outcome in this case is said to be positively valent for a individual if she/he would prefer having it or not. The most important feature of peoples valences concerning work related outcomes is that they refer to the level of satisfaction the person expects to receive from them, not from the real value the person actually derives from them. As the other models, there is the emphasis on the level of motivation and the outcome of performance. Work effort results in a variety of outcomes, some of them directly, and some of them indirectly and can include pay, promotion, and other related factors. Vroom (1964) suggested linking instrumentality as a probability belief linking one outcome (performance level) to other outcomes. According to Vroom, an outcome is positively valent if the person believes that it holds high instrumentality for the acquisition of positively valent consequences and the avoidance of negatively valent outcomes. The third major component of the theory is referred to as expectancy (Pinder, 1984). Expectancy is the strength of a persons belief about whether a particular outcome is possible. Vroom (1964) described expectancy beliefs as action outcome associations held in the minds of individuals and stated that there a variety of factors that contribute to an employees expectancy perceptions about various level of job performance. 2.7 MCCLELLANDS ACHIVEMENT MOTIVATION THEORY McClellands work originated from investigating into the relationship between hunger needs and the extent to which imagery of food dominated through processes. From subsequent research McClelland identified four main arousal-based, and socially developed motives: The Achievement motive; The Power motive: The affilative motive; The Avoidance motive McClellands (1961) described the theory of needs focusing on three needs; achievement, power and affiliation. The need for achievement was defined as the drive to excel, to a set of standards, to strive to succeed. Achievement theories propose that motivation and performance vary according to strength of ones need for achievement (Kreitner, 1998) The need for achievement and is defined as a desire to accomplish something difficult. Kreitner Kinicki (1998) cite Murray (1994) explaining the need for achievement as mastering, manipulating or organizing physical objects, human beings or ideas. The need for affiliation suggested that people have the desire to spend time in social relationships, joining group and wanting to be loved. Individuals high in this need are not the most effective managers or leaders because they have a hard time to making difficult decisions without worrying about being disliked (Kreitner, 1998) The need of power reflect an individuals desire to influence, coach, teach or encourage others to achieve. Because effective managers must positively influence others, McClelland proposes that top managers should have a high need for power coupled with a low need for affiliation (Kreitner, 1998) 2.8 SUMMARY Employees are the main part of any organisation. Organisation success and failed ratio is depending on employee work performance. So it is necessary to improve employee moral time to time by motivating employee. Human resource department is directly associated with employee motivation. Any organisation or institution need people to carry out specific task so that the goal and objectives of that drivers people to behave in various ways and to seek to fulfil a variety of needs, employee need to know what makes their employees tick so that they can channel this energy toward certain outcomes. In todays competitive environment where there is a constant threat to our call centres and BPOs that they might lose their contact to china or Philippines. It is very important that company reaches the benchmark set by the clients and even try to exceed the set benchmark. However, if the employees are not motivated enough towards achieving the goal than these could directly reflect on the productivity of the organisation in terms of poor service quality. Maslows hierarchy of needs model consist of five levels where bottom level is physiological, safety, love, esteem and top level self actualisation. Physiological needs through HR professional provide basic requirement like water, coffee for employee, provide canteen facility and required break time during work so employee feel comfortable and deliver good performance. Safety needs through Management make sure health and safety of employee is very important for organisation. HR professional can provide free health check and medical insurance of employee which help to motivate employee. Maslows also derive love needs through It is directly related with organisation management and employee relation. It is necessary that mutual understanding between employee and manager is required which generate satisfaction in work. Esteem needs through It involves HR professional give particular responsibility or task to employee and when employee successfully completed task, HR professional appreciate employee and improve self confidence of employee. Self actualisation needs derive that employee and HR profession know their strength and come out best in work to achieve organisational objective. Herzberg (1966) developed this theory which is based on motivation factor and hygiene factor. According to Herzberg motivation is main key for employee to achieve higher level in the company while hygiene factor as not more relevant because employee not only satisfied with proper working condition and good salary base on their qualification. Typical hygiene factor derives employee cant perform well because working condition in the company is not good level. Health and safety is important when employee work in company it is necessary that HR professional conduct regular meeting with employee and deliver transparent policy for employee. Typical motivation factor derive that if employee achieve or complete task should be rewarded. Mc Clelland (1961) theory share need for achievement, power and affiliation. Need for achievement derive HR professional work as compa