The Production of M. Butterfly and the Reflection of Culture Essay - 1

The Production of M. Butterfly and the Reflection of Culture - Essay Example Reactions towards M. butterfly go from contentions or discussions over an outline of sexualities and ethnicity, Orientalism governmental issues, theater to execution speculations. In that capacity, this exposition investigates and examines the creation of M. Butterfly and courses through which the play shows Asian grand plans, stories, ensemble structures, developments, and sounds to the entire world. The play fuses different Asian components. For example, the stage configuration has a hanamichi, the on-screen characters wear Japanese customary garments and the storyline delineates the thought of an Asian lady who is slim, excellent and compliant. Moreover, M Butterfly utilizes the component of cross-dressing which is a Chinese trademark ordinarily utilized by Beijing show on-screen characters. Every one of these components in the play speak to Asia. Madama Butterfly by Giacomo Puccini enlivened David Hwang into composing the M. Butterfly play. Hwang put together his play with respect to a genuine story. Renne Gallimard, the hero fills in as a government worker in the French Embassy in China. The hero begins to look all starry eyed at Song Liling, the Chinese drama diva while during the time spent watching Madama Butterfly. They promptly set up an affection relationship that returns to last over two decades. The finish of the adoration enthusiasm comes when specialists sentence Gallimard of treachery with ensuing detainment. Shockingly, the hero finds that the implied sweetheart was a man and an administration specialist. Gallimard ends it all for neglecting to acknowledge reality. The play by Hwang has three acts. Act 1 has thirteen scenes while Act 2 has seven and three scenes in the last Act. M. Butterfly presents a fictionalized story of a French negotiator who was involved with an Asian, explicitly Chinese vocalist for over twenty years without really realizing that his delightful devoted and accommodating darling was really a male. Gallimard sees himself as being awkward with regards to adore. In any case, he considers himselfâ blessed since he has a committed excellent and fascinating lady (Liling Song).â

Social Work Law Essay Example | Topics and Well Written Essays - 1750 words

Social Work Law - Essay Example A portion of these issues incorporate â€Å"unemployment, absence of occupation expertise, deficient lodging, money related misery, genuine sickness or inability, substance misuse, undesirable pregnancy, conjugal issues or against social conduct among others† (Kumar, 2004 p.1). The job of the social specialists is to discover powerful and quick answers for these contentions, which include spousal or youngster maltreatment by offering conference and guiding to their customers, and guarantee that they experience the administrations or medicines that should liberate them from confused circumstances. In this given model, Jim is experiencing a psychological ailment of ‘schizophrenia’ and has put his family, particularly the little youngsters in undesirable day to day environments. Jim’s ailment is totally outside his ability to control and requires quick consideration. Nonetheless, the medication reliance combined with liquor misuse and the administration of cor rective discipline, are factors which are straightforwardly owing to Jim’s own wrongdoing. ... In this manner, scientific and natural explanation abilities are best observed as continuum, not polarity. The centrality of and instinct should be recognized, however practice can be improved by creating professionals’ expository skills†. It is a typical information that youngster insurance work is dazzled with significant level of feelings to guarantee the prosperity of the kids and â€Å"arouse compelling enthusiastic reactions in most adults† (Munro, 2008, p. 12). In this way, social laborers must have the option to recognize coherent thinking from feelings while researching and working with the children’s oppressive families. On account of Jim and his family, the social specialist doled out to explore must have the option to sift out feelings from unadulterated explanation. â€Å"The perfect scholar is frequently depicted as dispassionate, remote individual, consumed in cognizant meditation and permitting no unessential materials, for example, emotion s to meddle with their decisions and ends in choosing cases including children’s rights† (Munro, 2008, p. 12). The social specialist relegated to screen Jim’s kids ought to guarantee that they are given the best possible consideration, consideration and direction. As per Barker (2008), this is in consonance with government’s exhaustive program, ‘Every Child Matters of 2003’, which takes into account â€Å"children’s administrations including wellbeing, instruction, and social administrations, for example, play work and a child’s yearly turn of events. The program is intended for five results that every single small kid are qualified for: being sound, remaining safe, getting a charge out of and accomplishing, making a positive commitment and accomplishing monetary well-being†. According to UK laws on the privilege of the youngsters, the Children’s Act of 1989, especially, Section 31

The Biological Reason to Practice Gratitude

The Biological Reason to Practice Gratitude Imagine a day when everything seems to be going wrong. You overslept. You put salt in your coffee instead of sugar.There was no hot water so you had to quickly shower with cold water.You have 24 missed calls from work â€" you are late, and you have a presentation to make, which you haven’t finished preparing.You can’t find a matching pair of socks â€" or your dress zipper is stuck at the bottom.When you leave the house, you step into mud and a bird poops on your forehead.That sounds like a day from hell, right?For most people, such a start to the day would ruin the rest of the day, or perhaps even the entire week.But does a bad start really mean that the rest of the day will be as bad?Think about it. The day is still young. Things could change.However, most people become grumpy because they choose to focus on the bad things that have already happened.Now, what if you changed your focus on the good things that could happen over the rest of the day, or the good things that are alre ady in your life?Is that even possible. Is there a way to find positivity in a day that has started out that bad?Turns out that you can, and that is made possible by an attitude of gratitude.Let’s get back to our nightmare morning. Despite all the bad things that have happened so far, you decide that there is no reason to get grumpy.Before you start your drive to work, you breathe in deeply, relax, and stop frowning.You start thinking about the things you are grateful for.For one, you are alive, right?That’s really something to be grateful for. You are healthy. You have a car.Sure, there was salt in your coffee, but having coffee and sugar and enough food to eat is a blessing. You have a job.Sure, there was no water, but at least you have a shower, so you can keep clean. You have enough clothes and so much moreAs you run through your list of things to be grateful for, you will progressively grow calmer, more confident, and you might even smile, ready to face the day, seize the m oment.This is the power of gratitude.Very often, people disregard the importance of being grateful for the good things we have in our lives.However, gratitude has a lot of benefits in our lives, both mentally and physically.What’s more, gratitude is not something that should only be reserved for the big things in our lives â€" I’m talking about things such as buying a home, getting your dream job, and so on.An attitude of gratitude requires that you show gratitude even for the small things, such as having food to eat or money to buy nice clothes.In this article, we will take a look at some biological reasons to practice gratitude.However, let us first start by understanding what gratitude is.WHAT IS GRATITUDE When most people hear the word gratitude, they think about saying “thank you” to someone who has done something good or helpful to you, or someone who has gifted you with something.However, gratitude is more than the act of saying thank you.It is also a positive emotion that is deeply rooted in our biology. It is a deep appreciation towards someone for something positive they did for you that was not essentially their obligation. It is the positive emotion of appreciation that someone feels after being the beneficiary of an altruistic act.According to researchers, gratitude involves two main steps. The first one is recognizing that an action has led to a positive outcome.The second step is recognizing that an external source was responsible for the action that led to the positive outcome.This means that gratitude is focused on the other, rather than the self.GRATITUDE REQUIRES A CHANGE IN ATTITUDEOur ingrained habit is to look at what we don’t have, gripe over what we lack, and hate ourselves for our deficiencies and flaws.Gratitude reverses that, and instead shines a light on what we do have, our advantages, our best qualities, and our blessings.When you focus on what you lack, you feel angry, lonely, ashamed, hopeless, unhappy, stressed, and t his can end up harming your health.On the other hand, when you focus on what you should be thankful for, you feel cheerful, confident, hopeful, happy, relaxed, beautiful, and this ultimately has a beneficial impact on your health and wellbeing.Gratitude is basically a superpower.Some of us have it naturally â€" the empathic, sweet, rosy souls among us.Some developed it after they went through something in life â€" for instance, surviving a car accident or cancer.As for the rest of us, we have to work hard and willfully to develop this superpower.THE EVOLUTION OF GRATITUDEThe theory of evolution is the basis of much scientific thought these days, particularly in the field of biology.It would therefore be amiss to discuss the biological basis of gratitude without considering how this emotion/practice evolved from our early roots.One of the insights made by evolution theory originator Charles Darwin is that our emotion-depicting facial expressions are universal.This suggests that all h umans, regardless of race, have a common descent.In his 1872 book The Expression of the Emotions in Man and Animals, Darwin identified six emotional states: happiness, sadness, fear, anger, surprise, and disgust (if you have watched the Pixar movie Inside Out, you can recognize five of these emotions as the main characters of that movie).Using this assumption of universality of emotions, we can infer that gratitude too is a universal feeling. People in China, Congo, New Zealand, Canada, and Latvia… they are all capable of feeling gratitude.Studies of the ancient literature and oral literature of various cultures also reveal that gratitude is not a new phenomenon.For instance, a big part of religious worship, both in ancient and modern times, has always involved giving thanks to a something higher than ourselves: a deity, the universe, ancestors, dead kings, and so forth.A case study of this is ancient Egypt, where gratitude for life and its blessings was an important facet of the culture. Hathor was the goddess of humanity, motherhood, and joy of life â€" to be inducted into her cult, a person had to mention five things that they were grateful for in their life.These five things were known as “the five gifts of Hathor” and the person was instructed to remain grateful for them.Furthermore, a form of gratitude is observable in animals, particularly in primates such as chimpanzees.However, we cannot tell what animals are feeling. They do not say, “thank you” in a language we can understand. The best we can do is observe their behavior.In doing so, researchers have observed a behavior that they believe reflects gratitude in animals. This behavior has been named reciprocity.Reciprocity is expressed through exchange of kindness and good deeds. It is the old “scratch my back and I scratch yours”. Having such a mutual arrangement benefits both parties. Reciprocity makes the two parties less fragile and more likely to survive.For instance, let’s assume I am hungry hungry, but I have water. On the other hand, you are thirsty, but you have food.If I give you my water, you will feel grateful and share some of your food with me. In this way, we both benefit/survive â€" we don’t die of hunger or thirst.This pragmatism of sharing and expression of gratitude through giving back may be a reason for the emergence and evolution of gratitude in society.It is a principle in evolutionary biology known as reciprocal altruism.According to gratitude researcher Michael McCullough, the positive feeling that arises from gratitude reminds us of benefits gotten from others and encourage us to show our appreciation. Our reciprocation in turn encourages them to help us again in future.In this way, gratitude inspires the building of social bonds and friendships.For instance, it has been observed that adult chimpanzees are more likely to share food with individuals who have groomed them previously that day.Sociologist George Simmel has called gratitude “the moral memory of mankind”, referring to how it encourages appreciation and repayment (or paying forward) of gifts.This benefit of gratitude may explain how it evolved â€" through the strengthening of bonds between members of a species who mutually assisted one another.EFFECTS OF GRATITUDE ON THE BRAINResearchers in the department of psychology at the University of Southern California did a study to observe the effects of gratitude on our brains.The study provided insights into the complexity of gratitude and its relation to other cognitive processes.The experiment took a group of participants and induced gratitude in them.The researchers achieved this by sharing stories of Holocaust survivors, talking about how these survivors received shelter from strangers, along with food and clothing.Naturally, the Holocaust survivors developed strong feelings of gratitude towards these strangers.These Holocaust accounts were presented in 48 brief vignettes, which each of the 23 particip ants read as he or she lay in a brain scanner.For each vignette they read, the participants were instructed to imagine themselves in the Holocaust.What would their experience feel like if they were in the same situation and received those gifts?For each gift they received, the participants were expected to rate the level of gratitude they felt. Meanwhile, the fMRI machine was recording their brain activity.It was observed that gratefulness causes enhanced activity in two primary regions of the brain: the medial prefrontal cortex (mPFC) and the anterior cingulated cortex (ACC).These are areas which have in the past been associated with functions such as bonding with others and rewarding social interactions, processing of emotions, understanding other people’s states of mind (empathy), and moral judgment.This pattern of brain activity demonstrates that gratitude is not merely a simple emotion you feel after receiving a nice thing.The brain activity pattern of the effect of gratitude shows that it is a complex social emotion that emphasizes how others seek to benefit us.What these findings reveal is that gratitude is not just about reward â€" for that reason, it doesn’t only show up in the brain’s reward center.Gratitude also encompasses our sense of right and wrong, connection with others, and the ability to see things from their perspective.What this suggests is that gratitude is indispensable for social cohesion.Perhaps human society would never have evolved into our complex social structures if not for gratitude.Our bonds with people around us would not be as deep.Gratitude binds us to the people we feel grateful to or for.Mutual gratitude binds us together. If you think about it, even macro-level relationships such as the ones between countries are built on gratitude and reciprocity.Gratitude is a recipe for building strong, enduring ties between individuals, families, communities, organizations, and countries.Furthermore, this study justifies the beli ef that gratitude is a moral emotion.There was brain activity in areas of the mind which have been established as the centers of our morality by different studies.This makes sense considering that gratitude can make us re-evaluate what is right.For instance, if a person you consider an enemy does a nice thing for you without expecting anything in return, how do you react? Do you do something in return, or say thank you?Chances are, you will stop viewing them as an enemy.Our own interpretation of these findings vis-à-vis morality is that gratitude encourages us to do what is right/just.If we were planning to do something wrong, let’s say play a prank on a rigid fellow but then we remember that one time he helped us out when we were broke, there is a high chance we won’t play the prank on them.However, this can also create a moral dilemma.Is it okay to give someone a pass just because you feel grateful to them? For instance, as a judge, should you be impartial or let your feeling s of gratitude to the plaintiff sway you?The study also showed that gratitude activates our ability to see other people’s perspective. This is empathy.If gratitude activates empathy, this has huge implications on social bonding and on our self-worth and confidence.Empathy through gratitude enables us to consider that the other person is human too and might appreciate a “thank you” or a gift.By putting ourselves in their shoes, we anticipate how they will receive our “thank you”. Grateful people are more empathetic and friendlier. They like people and people like them.Lack of gratitude, on the other hand, cultivates selfishness and arrogance.Rather than see what the other person needs, we only see what we want, what we don’t have, what we deserve.As a result, such a person is cranky, irritable, and people may find them irritating.Lack of gratitude makes you unlikeable.Practicing gratefulness focuses your attention on what people have done for you as opposed to what they h ave taken from you.When you consider what they sacrificed to do the things they did for you, this makes you appreciate them.It also builds your self-confidence and your ability to socialize and relate well with others.EFFECT OF GRATITUDE ON THE BODY AND PHYSICAL HEALTHResearch on the effects of gratitude on our physical health is still inconclusive.Preliminary research suggest correlation (not necessarily causality) between gratitude and good health.Generally, grateful people, regardless of age and nationality, report fewer health problems than less grateful people.Still, this is not enough to conclude that gratitude is the cause of better health. It could as well be a case of healthy people being more grateful than unhealthy people.More research is required before conclusions can be made and gratitude incorporated in doctor’s prescriptions.Researchers therefore have to investigate whether practicing gratitude causes an improvement in health.The Thnx4.org project discovered that p eople who wrote an online gratitude journal during a two-week period reported less stomach pain, fewer headaches, reduced congestion, and better health in general.Still, people tend to overestimate the powers of a new treatment, so these findings, though instructive, are not exactly rigorous.We cannot ascertain how many of these positive reports were due to gratitude and how many were due to the placebo effect.In a 2003 paper published by Michael McCullough and Robert Emmons, college students who put down in writing what they were grateful for just once a week during a ten-week period reported fewer symptom of ill health than the students who wrote about the daily hassles and events in their lives.However, the findings are not conclusive, considering that college students who wrote in their gratitude journals daily over a two-week period (rather than ten) did not experience better health.Furthermore, the Emmons and McCullough study found that people suffering from neuromuscular dise ase did not experience better health after keeping a daily gratitude journal over a three-week period   than people who only filled basic daily surveys.A study done on middle school students had similar findings: no health benefits. The test group was asked to perform a “counting blessings activity” for a period of two weeks. This group did not report superior physical health to other groups.However, these mixed results do not imply that gratitude journals and gratitude letters don’t improve health. Not all the parameters have been tested.Note that in the studies which showed no health benefits, participants practiced gratitude activities for short periods of time.Perhaps stronger effects would be observable if the studies were carried out over a longer period â€" like several months.We need more evidence before we can make any real conclusions about the effects of gratitude on health.However, that does not mean we should assume it doesn’t have any impact until it is proven that it does.Note that anecdotal evidence as well as ancient wisdom and common sense place a high premium on gratitude. Earlier, I talked about the ancient Egyptian goddess Hathor.The worship of Hathor was centered on the practice of gratitude.You were expected to keep in mind the five things in your life you would miss most if you died at that instance.An example response for the five gifts of Hathor might have included things like “My wife, my children, my job, camels, and dancing.”Gratitude towards the gods is a recurring theme in all religions and cultures around the world from time immemorial.Furthermore, children were expected to be grateful to and for their parents and to respect them.People were also expected to be grateful for the rains and the bountiful harvest they brought. To this day, praying before meals is basically giving thanks for the food.We all know of people who have been diagnosed with a terminal illness, after which they completely change their outlook in life and start to be grateful for even the little things.As a result, they start to live their best life and start ticking things off their bucket list, thinking they will die anyway… only they don’t. Inexplicably, they get better.The benefits of gratitude on health could be a result of the positive outlook on life that comes with an attitude of gratitude.A positive attitude reduces stress, which in turn increases life span, improves cardiovascular health, gives you greater resistance to the common cold, and generally improves your psychological and physical wellbeing.As with gratitude, there is no conclusive evidence on why positive thinking causes these health benefits.It is theorized that positive thinking helps you cope better with times of stress and that reduces the harmful effects stress causes to your body.Furthermore, it has been observed that people with a positive attitude live healthier lifestyles, which may also explain their good health.They work out, eat healthy, and avoid smoking or imbibing alcohol in excessive amounts.It is impossible to practice gratitude without altering your attitude from negative to positive. In fact, gratitude can be considered a gateway to positive thinking.If someone tells you, “Be positive” when times are tough, you might find it difficult to actualize this in practice.“Positive attitude” is an abstract concept. Gratitude, on the other hand, is a concrete, simple, actionable concept you can practice.If someone tells you, “Write down ten things you are grateful for”, you will likely go beyond ten. In the process, you are rewiring your brain, focusing it on your blessings rather than your misfortunes.In this way, you can see that gratitude is inseparable from “positive thinking”.You cannot be grateful if you have a negative attitude, and you cannot have a positive attitude if you are ungrateful.Therefore, it is only logical that all the health benefits of positive thinking should also be attributed t o gratitude.EFFECT OF GRATITUDE ON PSYCHOLOGICAL WELLBEING AND MENTAL HEALTHA study was done to investigate what effect gratitude has on the psychological and subjective wellbeing of hospital staff.The researchers chose hospital staff as the subjects of the study because theirs is one of the most stressful careers.It requires strong personal and mental capacities. For that reason, psychological wellbeing is necessary for people working in healthcare.The 70 participants of the study were randomly split into two groups. The test group underwent 10 group sessions during which they were given 90-minute gratitude training. The control group, on the other hand, received no such intervention.The findings showed that gratitude training had a significant effect on wellbeing.The participants in the test group had higher scores in the following domains:Personal growthSelf-acceptancePurpose in lifeRelation to othersEnvironmental masteryThe only domain that gratitude did not affect was “autono my”.Looking at these domains, it is clear that for you to be successful, happy, satisfied, and forward-moving in life, you have to practice gratitude.It is simply impossible to live your best life if:You are not growing.You don’t accept yourself.You lack life direction.You can’t relate well with others.You feel awkward and helpless.Just as we said earlier that gratitude is the gateway to positive thinking, we could also say that gratitude is one of the paths to environmental mastery, good relations with others, purpose in life, self-acceptance, and personal growth.These five are necessary for people handling stressful situations, as in the case of hospital staff.If stress is one of the causes of poor mental health, then it is clear that gratitude is one of the antidotes.WRAPPING UPIf you want to live your best life, to be healthy, happy, relaxed, and confident, you need to incorporate gratitude into your lifestyle. It may be difficult at first, but it’s doable.A good way to start practicing gratitude is to write down the things you are grateful for every night before you go to sleep.Think of it as your own version of your “gifts of Hathor.”Think about the things that happened that day that you are grateful for, the people in your life you are grateful for, and so on.Whenever you find yourself battling with negativity, counter it by thinking about things you are grateful for. It always works!

Good Morning and Other Common Japanese Greetings

Ben Franklin Research Paper - 1498 Words

This report is about one of the most recognized and influential figures in all of American history. He has discovered technologies, spread around unique ideas, and taken place in many historical political events. He was the leader of a unique group called the philosophes. He was one of the few men that could not only read, but could write at the same time as these abilities were not emphasized at this point and time like they are today. Many of the most significant events in American history could not have been possible without the help or involvement of this man. This report is being written about one of the men responsible for America’s success today. His name is Benjamin Franklin. This report will explain a lot of the significant events†¦show more content†¦Something else that he led was a big scientific community in America. Through that, he educated many other people which led to them creating inventions of their own. (Schoenherr) This American Enlightenment was assisted by the increase in higher education as there were more schools being built throughout the north. Even though his words would have been more influential and helpful in later society, the society that he lived in were just not well educated enough to understand the writing of the philosophes. As mentioned earlier, he was an important political figure too. This was because of the growing popularity of his work and achievements. He was seen as a very intelligent man which led to him being appointed to the Albany Congress as a Pennsylvania delegate. He was one person who disagreed with the separation of the colonies and asked for the union of them which was agreed upon by the other delegates but later rejected by the Britain government. He was one of the many people who opposed the Stamp Act. He protested it but saw no progress in the fight against it that the colonists have started so he later requested the obedience of the Stamp Act to the colonists. This lost him a little sup port but it is what he thought was right. He would spend time in England throughout this crisis but would return to America ultimately to help fight for its independence. He would be appointed as the postmaster general in the ContinentalShow MoreRelatedCriticism of Fordes Claim on Benjamin Franklins Autobiography1629 Words   |  7 Pagestopics; 1) Wealth and Virtue, 2) Virtue of reasonableness, 3) the art of sociability. This essay will look into the succinct analysis of the first part of the autobiography using various sources from Benjamin Franklin to substantiate criticisms and arguments against Fordes claims. The paper will specifically center on the Benjamins Franklins wealth as an individual, and its connection with virtue. 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Turkey’s Retailing Sector Analysis Free Essays

RETAILING INDUSTRY in terms of Food- Non Food * Sectorial Overview; Retailing is the business activity that involves selling products/services to customers for their non-commercial, individual or family use. Normally, retailing is the final stage of the distribution process. The middle and long term potential of Turkey retail industry continue remaining attractive. We will write a custom essay sample on Turkey’s Retailing Sector Analysis or any similar topic only for you Order Now Companies in sector support the sectorial expansion with their expansion strategies, negative business administration fund and powerful cash creating capabilities. The defensive structure of sector and low penetration strengthen this situation. With the increase in consumer demand, rapid urbanization, increase in large scale retail investments the number of shopping malls in Turkey increased by more than 20% in the last two years. In the same period, the total surface rent area in Turkey increased by more than 30% and reached As it can be seen on the graph below; the total size of the retail sector (organized and unorganized) in Turkey is expected to reach $355 billion in 2013 and grow with 10% until 2016. (See Figure 1 in Appendix) Organized retail, a highly promising segment due to increasing per capita consumer spending and relatively weaker presence up to now in comparison with developed markets, is estimated to be 40% of the total retail industry in Turkey. (See Figure 2 and Figure 3 in Appendix) * The share of organized retail continue increasing; The share of organized retail which has the level of %25 in the total retail market in 2000 exceeds the levels of %50 according to the 2013 predictions. Turkey organized retail market achieve an impressive growth in last 10 years. It is anticipated that the share of organized retailers increase from the level %47 to the level %60 in upcoming 5 years. It is anticipated that the share of organized retail increases to the level of %60 till 2015. While the food retail segment constitute more than half of total retail market, traditional structure such as local markets and groceries still dominates the market. It is expected that approximate number of 10. 000 organized retail store will be twofold in 5-6 years. Besides, it is predicted that the number of groceries will be regress from 150. 00 to 100. 000 at the same period. Turkey, with its 105 milliard dollars sales figure, is located in 6th line in Europe retail sector. Nevertheless, while the total share of 5 biggest players in Europe is approximately %50, it is %20 in Turkey. Organized Retail Sector is the fastest expanding canal discount merchandising. It is expected that the number of approximately 6. 000 discount stores in Turkey will be twofold in upcoming 4 or 5 years. With the support of increase in the income per capita, %12 growth is anticipated in retail sector between 2009 and 2015. The discount store chain in Turkey (such as A101, SOK, BIM, DIASA) have a very fast growth schedules. BIM is placed in the first row in discount merchandising with its large store quantity. The company is planning to open 300 or 350 new stores every year. The fast increase in store quantities supports scale economy and companies are able to pull down their sale prices thanks to the decline in costs. With the effect of increasing competition in sector, it is expected that the growth accelerate with purchasing in forthcoming years. Despite the high competition, the retail sector is enlarging expeditiously; 6 major organized food retailing brand constitute %37 of total market in spite of divided structure. It is expected that it will be inorganic growth, merchandising and reunions, thus the companies will achieve more competitive charges by increasing their purchasing power in 2013 and later on with the intensity of competition. 2 Major Retailing Companies in the Sector; MIGROS vs BIM B IM and MIGROS which are the prominent players of Turkey food retail sector, are analyzed in this assignment in terms of their financial analysis. In retailing sector, these 2 companies have a great effect and they are known as most powerful competitors with their shares all over the industry. Migros has 6% and BIM has 9% industry shares. (See Figure 4 in the Appendix) 1) BIM BIM (Birlesik Magazalar A. S. ) adopts as a principle the supply of the highest quality basic foodstuff to consumers, at the best possible prices. BIM began its operations in 1995 with 21 stores and in line with this principle. BIM’s product portfolio comprises around 600 products. 44. 12% of BIM shares started to be traded in Istanbul Stock Exchange in 15 July 2005. BIM is the first representative of high level discount model in Turkey and the company got in stock market return for its rapid growth. While BIM finishes its 7th year in stock market, it became the 12th company that has highest market value of Turkey. * Board of Directors Mustafa Latif TopbasChairman of the Executive Committee Ekrem PakdemirliVice Chairman of the Board Mahmud MeraliBoard member and has chaired the Audit Committee Jos SimonsBoard member and consultant. Omer Hulusi TopbasBoard member. Yalc? n OnerBoard member. Dr. Zeki Ziya SozenBoard member. Turnover doubled to six; The rapid growth of the company had an effect on the rise of BIM , whose capital’s 17,43 per cent belongs to Mustafa Latif Topbas, in stock market. (See Table 1; Structure of BIM’s Shareholders) BIM ‘s sales revenues were 1. 4 billion TL . In the end of 2011, this revenues reached to 8. 2 billion TL. Also, the personnel number of the company increased approximately 3 times in 7 years. In the end of 2010, BIM became the endorsement leader with 6. 5 billion TL in the retailing sector of Turkey and it maintained this position in 2011. As abroad, while the company increases the number of stores in Morocco, aims Egypt for the next year. This year, BIM also started to operate in mobile communication industry with the name of BIMCELL. * Growth Strategy; Aggressive Growth among the competitor companies that strength After 11% increase in number of stores in 2011, with the number of 3. 584 stores in 2012, BIM is the retailer that has the largest store network in Turkey. (See Figure 5; Number of Stores ) BIM plans to open 400 new stores in 2013 and reach 5. 500 stores in 2015. With the store numbers increases there also has been 14% increase in number of employees in the company in 2011. BIM has been expanding their business, operations in every part. (See Figure 6; Number of Employees) These increases in operation side lead to an increase in number of average daily customers with 14% in 2011. (See Figure 7; Average number of Daily Customers) Of course with these changes, company carried out a 25 percent net sales increase over the industry average in 2011 and 2012. (See Figure 8; Sales and Gross Profit Margin) It is estimated that a sales increase over 20 per cent in 2013. Depending on this net sales growth, Company’s net profit has been increased by 22% over the last three years. Due to the increase in net sales; margin values regarding net profit, gross profit, EBIT, EBITDA have been decreased over 3 years. (See Figure 9; Net Profit and Net Profit Margin) With the effect of net sales increase, EBIT has been increased to 347,5 in 2011 ( See Figure 10; EBIT and EBIT margin) These was a 19%increase in company’s EBITDA and this means that there is an increase in amortization so we can say that company increased their asset purchases as we can see on the related figure. See Figure 11; EBITDA and EBITDA margin) * 18 times has been increased in 7 years; BIM began to be traded with 672. 9 million TL of market value in July, 2005. The value of the company increased approximately 18 times in 7 years based on TL. The increase in BIM stocks since the first trading day was 1. 861 per cent. As a result of its rapid growth, BIM’s market value i s the over of the Erdemir, Arcelik, Ford Otosan, Finansbank and Vak? fbank in addition to Tupras that is the Turkey’s largest industrial enterprise and refinery giant. Also, BIM has paid its shareholders a total dividend of 700 million TL in the period of 7 years in the stock market. (See Figure 12; BIM Dividend Payment over the last 5 years). As the company’s profit increased dividend payments are increased also. There has been a positive relationship between them. This is a very good indicator for the company’s investors who already invested in BIM’s shares and who are planning to invest. Also as a result of the increase in BIM’s stock prices and stock revenues; value of the company also increased. So, this situation put the company’s principal shareholder, Mustafa Latif Topbas, to the Forbes list. On the other hand, for each stock BIM has really high returns and it brings some important risks also for the investors. (See Figure 13; IMKB 100 vs. BIM Stocks) When we compare the situation of BIM’s stocks in Imkb 100 with stocks of MIGROS, BIM has a higher return, profit for the investors and because the ret urns and prices of BIM higher than IMKB 100 and because there is a really important difference between the line according to Figure, BIM’s stocks are also operated and valued in IMKB 30. Why is it rising? * The rapid growth in the number of stores and endorsement. * The high capacity of dividend payment.. * Increasing profitability of the company every year. * To expand abroad with Morocco. * To bring new revenues with BIMCELL. *3/4 of the shares in stock market is belonged to foreigners. * Growth Targets in Egypt after Morocco: BIM will open stores in Egypt by 2013. The company estimates that the growth in Egypt will be faster compared to the growth in Morocco. Recently, BIM operates in Morocco with 103 stores. And the company plans to open 50 new stores in Egypt every year after 2013. 2)MIGROS Originally established in Turkey in 1954 as a collaboration of the Swiss-based Migros Cooperatives Society and the Istanbul municipality, Migros’s primary mission was to supply economically priced groceries and household supplies to consumers in Istanbul under wholesome conditions. In 1975 the Koc Group acquired a majority stake in the company, following which there was a steady increase in both number of its stores and its brand value for more than a decade. In 1991, Migros became the first publicly traded company in retail. Following a Koc Group strategic decision to pull out of grocery retailing, in February 2008 Koc Holding signed an agreement to sell its 50. 83% stake in Migros to Moonlight Perakendecilik. Transfer of the shares took place on May 30th of the same year. On 30 April 2009, Moonlight Perakendecilik (now known as Migros Ticaret A. S. ) and Migros Turk T. A. S. were merged into a single company which has since been operating under the name â€Å"Migros Ticaret † and whose principal shareholder is MH Perakendecilik ve Ticaret A. S. In 2005 Migros further bolstered its leadership of Turkey’s food retailing sector with its acquisition of Tansas, another national chain As of end-2011 Migros was operating through a total of 745 national and international locations. With a national presence in all seven of Turkey’s geographical regions taking the form of 262 â€Å"M†, 190 â€Å"MM†, 59 â€Å"MMM†, and 16 â€Å"5M† Migros-branded stores and of 177 â€Å"Tansas† and 13 â€Å"Macrocenter† stores, its international footprint consisted of 23 Ramstores in Kazakhstan and another 5 in Macedonia. ( See Figure 14,15 ; Breakdown of Net Sales Area by Store Brands of MH Group) Distribution of Dividend According to latest data from the company’s official web-site, at the company’s Annual General Meeting held on May 20, 2010, it was decided to distribute a gross cash dividend of TL 195,833,000 to the shares representing TL 178,030,000 capital and the dividend di sbursement is to start on May 28, 2010. On July 30th, 2009, it was decided to distribute the dividend of the free reserves after setting aside the reserves required by law to the share certificates representing the capital of TRY 178,030,000 and to use TRY 2,492,420,000 from this source for the distribution of gross cash dividends. See Table 2; Structure of Migros’s Shareholders) * Growth Strategy: The company increased its total store number to 745 in 2011. (See Table 3) and 2012, they increased the stores to 874 by opening 142 new stores. The company is planning to open 100 new stores in 2013. It is expected that the company will maintain rapid growth and increasing operation profitability in 2013 by focusing on its main operations. In addition to this, in 2013, it is estimated that the company will have 13% sales growth in year basis and 6. 4% EBITDA margin. * The positive effect of selling of â€Å"SOK† on Profitability. After selling SOK Discount Stores, thanks to high margins of supermarket segment and improvements in operational management and supply chain, Migros’s EBITDA margin increased in 2011. It increased from 5. 7% in 2011 to 6. 5% in 2011. While Migros leave the channel of low margin discount retailing that is in intense competition, it will increase its penetration in supermarket segment that it is the leader in. In the medium term, 6. 0%- 6. 5% is the sustainable margin level. It is expected that sale, partnership and the reunion debates of Migros and CarrefourSa in 2013 will close the sale after getting purchased the food by Makro. BC Partners’ expectation of selling the share of Migros, BC Partners (MH Retailing) which is %80,5 shareholder of Migros is a private equity company centered in London. In spite of the fact that it is expected that BC Partners will sell their quantum of Migros in between 2013-2014, there is no explanation about the time period. It is thought tha t, despite the aggressive growth strategies of Migros continue, the quantum sale in 2013 is highly possible. In the case of selling deal, it is possible to be made a call for minor shareholders. * Company’s Stock Returns in IMKB 100 When we compare the Migros Stock Returns we can say that, the prices of each stocks are less than BIM’s stocks and their returns are above the IMKB 100 line. This situation makes company’s stocks profitable but at the same time it may mean a high risk for the investors ( See Figure 17; IMKB 100 vs. MIGROS Stocks) Analysis of Financial Ratios of BIM MIGROS (See Tables 4,5,6) 1) Liquidity Ratios Current Ratio: This ratio is commonly used as an index for current financial position and used for measuring company’s ability to pay short-term debts and determining the company’s net working capital if it is enough or not. Generally it is expected to be 2,00. The ratio of 1 is also acceptable. When we look at both companies both of them may have some difficulties to pay their short-term liabilities. For the firms which has a high level of inventory turnover ratio and receivable turnover ratio like Bim, they are able to pay their short-term debts easily. Quick Ratio: It is a more sensitive ratios than current ratio. It shows us the ability of firms to pay their short-term liabilities when they have no sales growth, when their sales stops. It is expected to be 1. The ratios of both firms are less than deal number so receivable accounts and cash cover short term liabilities and their abilities to pay are not good but at least both firms’ ratios are higher than industry ratio and this brings these 2 companies in a better position in terms of short-term debts. Cash Ratio: It is most sensitive liquidity ratio. Generally, this ratio is not expected to be under 0. 20. As both firms cash ratios are highe r than industry ratio, it won’t difficulties for paying their debts in the condition of lack of sales and getting their receivables. Additionally, company is holding more cash than needed. Net Working Capital: If the value of networking capital is minus, this means company’s current liabilities are more than current assets. This is the main reason for the company which finance its current assets with current liabilities. This is the case for BIM. We can say that company might have done current assest investments. We can say that BIM has some problems in terms of liquidity. Migros has positive networking capital and it has no liquidity problem. 2) Leverage Ratios Total Debt Ratio: This ratio is expected to be under 50%. With 0. 64, 0. 63 and 0. 64 ratios according to three years, BIM has higher values than this ideal ratio. When we look at industry ratio, it is 2,00. This ratio tells us, foreign resources are used for financing assets by the rate of 0. 64. It shows that BIM can pay its debts by selling assets when the operation stopped. This is the same for Migros expect the year 2010. It has a very high ratio, even higher than the industry level which is 2,41. Debt to Equity Ratio: This ratio can be equal to 1 or higher than 1. If it is higher than 1, it means difficulties in paying debts and interests or if it is lower than 1, it means company finance their assets by using its equities. The industry ratio is 1. 3. By looking Migros’s DTE ratios, they mostly finance their assets by using their equities instead of using foreign resources and they will have no difficulties while paying their debts, liabilities in the future. But when we compare it with the industry which is almost 1, Migros will have less advantage in any crisis condition. In this case, Bim has a more advantageous position than Mi gros because its ratios are closer to industry ratio and ideal ratio. Long Term Debt: It is a normal ratio 0. 12 – 0. 16 in Turkey. The industry ratio is 1. 03. Migros’s ratios are 0. 47, 0. 44, 0. 49 orderly. Bim’s ratios are 0. 01, 0. 01, 0. 01 orderly. If this ratio is high, this increases interest burden, decreases dividends and as a result, it causes not to cover debt burden. Migros prefers long-term foreign resources rather than using their equities. Long Term Debt to Equity: Ideal ratio is 1. Migros’s ratios are 0. 64, 1. 85, 2. 26. Bim’s ratios are 0. 04, 0. 03, 0. 03 orderly. The industry ratio is 0. 84. For Bim with these ratios that are less than 1, it means that Bim’s equity is more than long term debts. It is valid for these three years. Times Interest Earned: This ratio should be more than 8. Higher value of times interest earned ratio is favorable meaning greater ability of a business to repay its interest and debt. Lower values are unfavorable. That means if a company cannot repay its interest and debt it may become in a difficult situation even it may go bankrupt. In general, times interest earned of 1. 5 or below is unsafe. 3) Efficiency Ratios Receivable Turnover: If a company has a low receivable turnover it means, that company has some important difficulties to collect their receivables and the collection policy of that company is not so good and this means that they are unnecessarily relax about sales on credit. When we compare Bim and Migros, Bim is a better position for collecting its receivables in a quicker way. Its ratios are even less than industry ratio. When we compare Bim with Migros, Bim really has a strong ability to get their sales and receivables and their portfolios include low-risk and trustful customers Average Collection Period: It can also be evaluated by comparison with the terms on which the firm sells its goods. For Bim, with the high value of this ratio, it may not have the ability to finance its own debts because of long-term collection. Migros has a shorter average collection period Inventory Turnover: It is the most important ratio in retailing sector and it measures company’s efficiency in turning its inventory into sales. Its purpose is to measure the liquidity of the inventory. Migros has ratios 7. 43, 8. 52, 8. 47 orderly and Bim has ratios 16. 98, 19. 56, 20. 23. Industry average is 10. 61. Migros’s ratios are less than Bim’s and industry’s ratios so this is a signal signal of inefficiency, since inventory usually has a rate of return of zero. It also implies either poor sales or excess inventory. For Migros low turnover rate can indicate poor liquidity, possible overstocking, and obsolescence, but it may also reflect a planned inventory build up in the case of material shortages or in anticipation of rapidly rising prices. Bim has highest inventory turnover ratios over Migros and industry. It means that Bim is really strong in terms of sales and at the same time very effective to control its inventories. Its higher inventory turnover ratio also means better liquidity. Also its efficiency in managing their stocks were increased, their stocks are becoming sales revenues in a short time and their stock costs were decreased year by year. With this positive development, it has less financial resources for their stocks as necessities and their competition force has increased by this activity. Average Days in Inventory: Generally, the lower (shorter) the DSI the better. Bim has lower Average Days in Inventory than Migros and industry. This means, Bim is doing good in the sector and it has a good position in industry competition. This is an indicator of good operating cycle of Bim. In this case, Migros is in a worse situation. Asset Turnover: Bim has higher asset turnover ratio than Migros and industry and it shows us Bim has much more effective sales than Migros. It is more successful than Migros in order to generate sales with fewer assets it has a higher turnover ratio which tells it is a good company because it is using its assets efficiently. Migros is not using its assets optimally. Total asset turnover ratio is a key driver of return on equity 4) Profitability Ratios A company’s stock price, in large part, is driven by the company’s ability to generate earnings. Therefore, it is useful for investors to analyze the profitability of a company before investing in it. One way to do this is by calculating and tracking various profit margins, which reflect how efficiently a company uses its resources. Gross Profit Margin: Due to higher sales volume of Bim, Bim has lower gross profit margin than both Migros and the industry and it means Profit Margin: It tells us about company’s profits and their different kinds of policies, strategies and decisions. When we look at Bim’s profit margins over the 3 years they are higher than Migros’s profit margin values and the industry average. It is the most advantageous one. Bim has a better position than Migros in the industry. It has a competitive advantage over Miigros. ROA: It shows us at what amount companies get returns from their investments. Bim has higher ROA than Migros and industry over 3 years. It has become really effective to use their assets in a profitable way. For Migros, in 2011 the ratio became a minus value this means Migros lost its asset profitability and started to not to get any profit from their assets. ROE: Stockholders invest to get a return on their money, and this ratio tells how well they are doing in an accounting sense. It measures the performance of companies’ equities. Again for this ratio, Bim has a much better position. It has higher ratio than Migros and industry. But on the other hand, there has been a small ROE reduction for Bim over 3 years. For example in 2011, ROE is 0. 48 and this means that owners of Bim could get 10% income from their equity that they invest for Bim. Operating Profit Margin: With a higher ratio of Bim, it is more successful in generating from operating its business. It is more important than net profit margin because it measures the profit margin which companies gain from goods and services sales in companies’ main activity subjects. This ratio is higher than industry ratios which is really important especially for Bim’s investors. APPENDIX Figure 1 Figure 2 Figure 3 Figure 4 Table 1: Structure of BIM’s Shareholders Table 2; Structure of Migros’s Shareholders Figure 5 Figure 6 Figure 7 Figure 8 Figure 9 Figure 10 Figure 11 Figure 12 Figure 13 Table 3; # of National and International Stores, Net Sales Area Figure 14 Figure 15 Figure 16 Figure 17 Table 4: Financial Ratios of Migros | 2009| 2010| 2011| 2010| | Migros| Migros| Migros| Industry| LEVERAGE RATIOS| Debt to equity| 2. 76| 3. 13| 3. 58| 1. 03| Total debt ratio| 0. 73| 2. 41| 0. 78| 2. 00| Long Term debt ratio| 0. 47| 0. 44| 0. 49| 0. 22| Long-term debt to equity ratio| 0. 64| 1. 85| 2. 26| 0. 84| Times Interest Earned| 1. 54| 1. 28| 1. 43| 22. 35| LIQUIDITY RATIOS| Current ratio| 1. 34| 1. 01| 1. 13| 0. 82| Quick ratio| 0. 94| 0. 58| 0. 70| 0. 45| Cash Ratios| 0. 88| 0. 55| 0. 66| 0. 32| Net Working Capital| 497,628| 27,363| 218,876| -31,682,086| EFFICIENCY RATIOS| Total asset turnover| 1. 01| 1. 14| 1. 04| 2. 08| Inventory turnover | 7. 34| 8. 52| 8. 47| 10. 61| Receivable turnover| 150. 11| 127. 5| 85. 64| 66. 25| Average collection period| 2. 43| 2. 86| 4. 26| 8. 80| Average days in Inventory| 49. 72| 42. 84| 43. 09| 38. 61| PROFITABILITY RATIOS| Gross profit margin| 0. 25| 0. 24| 0. 25| 0. 22| Net profit margin| 0. 01| 0. 006| -0. 02| 0. 02| Operating Profit Margin| 0. 01| 0. 03| 0. 04| 0. 01| Return on Asset| 0. 01| 0. 00| -0. 02| 0. 03| Return on Equity| 0. 07| 0. 03| -0. 13| 0. 11| Table 5:Financial Ratios of Bim | 2009| 2010| 2011| 2010| | Bim| Bim| Bim| Industry| LEVERAGE RATIOS| Debt to equity| 1. 83| 1. 74| 1. 81| 1. 03| Total debt ratio| 0. 64| 0. 63| 0. 64| 2. 00| Long-term debt ratio| 0. 01| 0. 01| 0. 01| 0. 22| Long-term debt to equity ratio| 0. 04| 0. 03| 0. 03| 0. 84| Times Interest Earned| 156. 8| 83. 67| 140. 6| 22. 35| LIQUIDITY RATIOS| Current ratio| 0. 88| 0. 95| 0. 98| 0. 82| Quick ratio| 0. 51| 0. 56| 0. 61| 0. 5| Cash Ratios| 0. 24| 0. 33| 0. 36| 0. 32| Net Working Capital| -80,986| -38,285| -18,386| -31,682,086| EFFICIENCY RATIOS| Total asset turnover| 4. 84| 4. 79| 4. 72| 2. 08| Inventory turnover | 16. 98| 19. 56| 20. 23| 10. 61| Receivable turnover| 32. 99| 34. 15| 30. 21| 66. 25| Average collection period| 11. 06| 10. 68| 12. 08| 8. 80| Average days in Inventory| 21. 4| 18. 66| 18. 04| 38. 61| PROFITABILITY RATIOS| Gross profit margin| 0. 17| 0. 16| 0. 16| 0. 22| Net profit margin| 0. 04| 0. 037| 0. 037| 0. 002| Operating Margin| 0. 04| 0. 04| 0. 04| 0. 01| Return on Asset| 0. 19| 0. 17| 0. 17| 0. 3| Return on Equity| 0. 54| 0. 49| 0. 48| 0. 11| Table 6: Financial ratios of Tesco Kipa, Carrefoursa, Migros, Bim, Industry, in 2010 2010| | Bim| Migros| Carrefoursa| Tesco Kipa| Industry| LEVERAGE RATIOS| Total Debt ratio| 0. 63| 2. 41| 0. 41| 0. 70| 1. 03| Debt to equity| 1. 74| 3. 13| 0. 71| 2. 43| 2. 00| Long-term debt ratio| 0. 01| 0. 44| 0. 02| 0. 42| 0. 22| Long-term debt equity ratio| 0. 03| 1. 85| 0. 04| 1. 45| 0. 84| Times interest earned| 84. 6| 1. 28| 1. 54| 2. 00| 22. 35| LIQUIDITY RATIOS| Net working capital| -38,285| 27,363| -126,853,307| 178,586| -31,682,086| Current ratio| 0. 8| 1. 01| 0. 81| 0. 59| 0. 82| Quick ratio| 0. 51| 0. 58| 0. 53| 0. 20| 0. 45| Cash Ratios| 0. 24| 0. 55| 0. 36| 0. 16| 0. 32| EFFICIENCY RATIOS| Total asset turnover| 4. 84| 1. 14| 1. 42| 0. 95| 2. 08| Inventory turnover | 16. 98| 8. 52| 10. 3| 6. 65| 10. 61| Receivable turnover| 32. 99| 127. 5| 21. 5| 83. 04| 66. 25| Average collection period| 11. 06| 2. 86| 16. 9| 4. 39| 8. 80| Average Days in Inventory| 21. 4| 42. 84| 35. 4| 54. 8| 38. 61| PROFITABILITY RATIOS| Gross profit margin| 0. 17| 0. 24| 0. 22| 0. 27| 0. 22| Net profit margin| 0. 04| 0. 006| -. 008| -0. 03| 0. 002| Operating Margin| 0. 4| 0. 03| -0. 005| -0. 002| 0. 01| Return on Asset| 0. 19| 0. 00| -0. 011| -0. 03| 0. 03| Return on Equity| 0. 54| 0. 03| -0. 02| -0. 11| 0. 11| | | REFERENCES * http://www. bim. com. tr/yatirimci-iliskileri. html * http://www. migroskurumsal. com/Foreks. aspx? IcerikID=35 * http://tesco. kipa. com. tr/default. asp * http://www. carrefour. com. tr/Kurumsal/finansalsonuclar;jsessionid=b3a0da5ff5e79ee039b023b24ca0 * http://www. ampd. org/ * http://www. capital. com. tr/perakende-AltKategoriler/48. aspx * http://www. aaii. com/computerized-investing/article/profit-margin-analysis. pdf How to cite Turkey’s Retailing Sector Analysis, Papers

Virgin Atlantic Essay Example

Virgin Atlantic Essay The company I’m going to investigate is Virgin Atlantic. Virgin Atlantic is a British airline, which was founded almost 25 years ago; it is a leading player of Sir Richard Bransons Virgin Group, who own 51% of it and Singapore Airlines owns 49%. Its headquarters are located in Crawley, West Sussex, England, near London Gatwick Airport, they also have Technical Engineering Centers and other buildings and offices for cargo and Logistics in Manchester and Norfolk. It operates between the United Kingdom and North America, the Caribbean, Africa, the Middle East, Asia, and Australia from main bases at Gatwick and London Heathrow Airport, using a mixed fleet of Airbus and Boeing aircrafts. Despite Virgin Atlantic’s growth the service remains customer driven with an emphasis on value for money, quality, fun and innovation. On its long haul routes Virgin Atlantic operates a two class system: Upper Class (the airline’s business class) and Economy Class which is segmented into Premium Economy Class and Economy. Virgin Atlantic recently launched the Upper Class Suite – a new product which promises to take on other carriers’ first and business class products. Virgin Atlantic also has Upper Class Lounges at Various Airports in the UK, USA, Japan, Hong Kong and the Caribbean. Mission Statement: A Corporate mission statement should be an expression of the vision, the culture and the shared values of the organisation, as well as defining the boundaries or scope of the business. We will write a custom essay sample on Virgin Atlantic specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Virgin Atlantic specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Virgin Atlantic specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The four phrases to analyse a Mission Statement against, to evaluate its effectiveness are: Is it reasonably concrete and action oriented? Can People Understand it, relate to and put into action? Does it differentiate company from competitors? Is it simple, easy to put into words and easy to explain to customers? Virgin Atlantic has got a Simple Mission statement: 1. To grow a profitable airline 2. Where people love to fly 3. And where people love to work. 4. They’re mission Statement is easy to understand as its in simple words so nyone could understand it, including the customers. It relates to the organisation, its customers and the staff. The mission statement is concrete and action oriented but not excessively. It states what their targets are and what they are achieving for but does not go in too much in detail about them. Objectives: Our objective is to fly a profitable airline that people love to fly and where people love to work. Our focus is on further improving cust omer services for our business and leisure travellers, as well as setting new standards for the rest of the industry to follow. Our strategy is to ensure we offer the best business product in the air, grow our leisure business even further, and run an efficient but effective global airline. The Objectives of Virgin Atlantic are not too Specific, as they dont explain why people are going to love flying and working with them they dont state the best products they are planning to offer in the air. They are measurable because they could calculate the profit. They are achievable and could be achieved because the luxury airlines offer similar facilities. Objectives are also Realistic because the Virgin Group is successful and has plenty of resources including money. But there is no Time-Bound set on the objectives. Standards: Virgin Atlantics Standards are : We put customer service and commitment to our passengers at the heart of what we do. We strive to get it right, first time, every time. But occasionally, things dont go as planned. We believe that you have the right to know what level of service you can expect from us all the time even in those rare moments when we fall short of the very high standards we have set ourselves. Setting standards is useful in achieving high levels of customer care, because then the staff know what is expected from them and the success could be measured. Virgin Atlantic should also introduce other standards such as cutting down length of the queues to check in. Customer Feedback: The Methods Virgin Atlantic use to gather customer feedback is by Email, Post or Fax. These are effective methods because the feedback given in these forms is originally written or typed by the customers and can be stored to analyse and improve the service. Virgin Atlantic could also introduce Comment Cards on the planes, so customers can tick boxes and comment about their experience flying with Virgin Atlantic. The Feedback they gather is used for Accounts and Records, Advertising, Marketing and Public Relation, Administration of Membership Records, Research, Software Development and Testing and the consideration of complaints Purposes. Staff is not made aware of the feedback gathered but they should be since they have a role in the organisation. Customer Improvement To improve its Customer Care, Virgin Atlantic trains its staff at The Base- its new state-of-art training centre. According to Virgin Atlantic, Investment in its employees futures is vital for business to keep growing therefore from first day employees can focus on their training and development. Virgin Atlantic treats its employees as single most important part of Virgin Atlantic. Richard Branson believes: The people who make up Virgin Atlantic make Virgin Atlantic. This isnt a company that just talks about putting employees first or glibly claims that our people are our greatest asset. This is a company that simply wouldnt exist without the energy, the determination, the wit and the wisdom of our people†. Everyone at Virgin Atlantic has the intelligence to think on their feet and respond to any new developments that come their way, they work hard to provide unique brand and service which they are popular for. This, in turn, creates a lively, cooperative environment where everyone knows whats expected of them and works together to achieve it.. Reward and Recognition Schemes Virgin Atlantic has good reward schemes to motivate its employees and to keep them happy since they work hard. Virgin Atlantics full-time employees receive Seven free Flights to wide range of glamorous global destination. Also they offer competitive benefits packages: Pension and private medical schemes Life assurance Excellent discounts across the Virgin Group and lots of other companies Long term disability insurance Spouses and dependents benefit Dental plans Health screening Access to other major airlines discount travel, including European airlines All these benefits should motivate staff and increase their morale. Changes in Customer Care The Changes I would recommend for Virgin Atlantic to make are- Add more destinations world wide to different continents, this way the company can have a larger market and the customers would have bigger choice of destinations to fly to. Virgin Atlantic should also start flying nationally , within the UK aswell as international flights, This would be beneficial to the brand-loyal who want to travel from one city to another. Other British airlines, such as British Airways and BMI do national and international Flights. Since Virgin Group provides Various services like Virgin Trains, Virgin Mobile etc. Virgin Atlantic should offer discount to its customers who use other Virgin Product or Services, This would encourage customers. Bibliography http://virginally-atlantic. com/tridion/images/newpolicy_tcm5-540700. pdf http://wwp. greenwichmeantime. co. uk/time-zone/europe/uk/website/travel/airlines/virgin-atlantic/index. htm http://www. virgin-atlantic. com/en/gb/index. jsp http://en. wikipedia. org/wiki/Virgin_Atlantic_Airways