Cadbury History And Important Developments Marketing Essay

Cadbury History And Important Developments Marketing Essay The name of Cadbury in the domain of chocolates was first established in the year 1824, when John Cadbury opened a store in Birmingham, London, selling freshly made cocoa and drinking chocolate. Seeing the heavy demand and success of his shop, John Cadbury set up a factory to commercially produce his offerings. In 1861, sons of John Cadbury Richard and George Cadbury took over the control of the company and to save Cadbury from closing down, invested all their funds into a cocoa press. It offered an efficient processing technique, reducing wastage and eliminating use of additives, thereby making the product Absolutely Pure (Cadbury marketed it like this). In the later years, Cadbury realized that a lot of cocoa butter is left after processing cocoa and if it is combined with milk; milk chocolates can be made out of it. So, in 1905, Cadbury launched the Dairy Milk for the first time, which became one of the major chocolates to be sold and consumed around the world. In the same year, Cadbury commissioned its first logo and went ahead on the lines of making it a brand to continue for long. First Cadbury logo commissioned. A smooth and outreaching success of Cadbury received a heavy blow during the Second World War. Rationing was imposed and the manufacturers were prohibited from using fresh milk. Cadbury finally resorted to dried skimmed milk powder and marketed the product as Ration Chocolate. Cadburys Ration Chocolate. So as to expand its operations in other countries, on 19th July, 1948, Cadbury entered India as a private limited company as Cadbury-Fry (India) Private Limited. With the years, they started setting up manufacturing facilities in the country too. Company felt the need to cut costs while maintaining quality. It decided to source the milk and cocoa from India only and eventually undertook the project for development of cocoa and milk in India. This included establishing a special advisory board, research centres and tying up with Induri Farm Ltd., for betterment of cattle breeding for better milk yield. Seeing the growing demand for chocolates in India, Cadbury realized the market potential here. They converted themselves into a public limited company on 7th June, 1977 Cadbury India Pvt. Ltd. And then in 1984, Cadbury launched its legendary brand Dairy Milk in India. Little did they know at that time that this product will become the flag bearer of the company in India. Besides chocolates and cocoa, the company also tried its hands on other products like food drinks, ice-creams, confectionaries, apple juice and even exporting software. The company introduced a high-protein food drink Enriche in 1988. A year later, they introduced Dollops ice cream in strategic alliance with Unilever. Cadbury India expanded its offerings to Five-Star, Perk, Crackle, Gems, Bourneville, Temptations, Nutties, etc and currently has 70.07% of the chocolate market share in the country with Nestle India second in the lead. Out of this around 30% is captured by Cadburys Dairy Milk alone. Mergers and Acquisitions J.S. Fry and Sons Ltd. In 1919, Cadbury merged with Frys, the manufacturers of the first chocolate bar. They merged together to form the British Cocoa and Chocolate Company and became the manufacturers of popular chocolate brands like Countlines (a hit in US and Canada), Crunchie, Fudge and Picnic. Schweppes Cadbury went for a merger with the drinks giant Schweppes. This led to the formation of Cadbury Schweppes in 1969. This merged company went on to acquire top brands like Canada Dry, Snapple, Royal Crown, etc, to increase its world market share in drinks. http://upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Cadbury_Schweppes.svg/161px-Cadbury_Schweppes.svg.png In 2003, Cadbury Schweppes took over the worlds second largest gum manufacturer, Adams and became the world leader in confectioneries. Due to such a wide scale of operations, it became difficult to manage all the verticals under one umbrella. So the company decided to split into two one focusing on the chocolates and confectioneries while other on the drinks business. This led to the demerger of the companies in 2007 to form Dr Pepper Snapple Group to handle the drinks business. Kraft Foods Inc. In January, 2010, Kraft Foods Inc took over Cadbury for  £11.5 billion and became the global confectionery leader. But due to lot of offerings by Kraft Foods it got split into two and Cadbury came under the newly formed company Mondelez International. Consumer Behaviour The consumer behaviour of the world population towards chocolates and confectionaries has seen a drastic change over the years. Initially, chocolates were too costly and selective that only the high-ups of the society could afford to consume it. They were more of a luxury and in England; chocolate boxes were gifted only on very special occasions. But today, from a delicacy, chocolates have become an everyday sweet. Cadbury recognizes it and endorses this belief by its Aaj meethe me kya hai campaigns, forming an image that Cadbury is for everyone, everyday. Also they have made the Cadbury chocolates, especially Dairy Milk, synonymous with the word meetha or sweet. They understand how Indians have a sweet tooth and the youth is moving away from the traditional sweets. To capture this market opportunity, they pushed strongly for campaigns like Kuch meetha ho jaye and offered festive packs like Celebrations to replace the traditional Indian sweets. Some other significant decisions taken by the company with respect to changing consumer behaviour: In 1987, Cadbury launched Wildlife Bar chocolate. For sale of every bar of it, the company contributed a portion to the wildlife fund. The company marketed itself as an environmentally-aware firm, and the people could relate to the cause and supported the company. With the idea of capturing the maximum of India Inc., Cadbury also entered the confectionery business by launching a sugar candy Googly. Such candies were easy to manufacture in bulk, convenient to distribute. Also, they were lowly priced and could be consumed by the all the sections of the Indian society, who either didnt have a taste for chocolate or couldnt afford it. To bring the chocolates and food drinks within the budget of the wide middle-class population of India, Cadbury went for LUP (Low Unit Packs) by introducing chocolates in small grammages. The youth had more affinity to chocolates and colas and wanted to be a part of the new trends. Cadbury made it simpler for them by the LPU offerings and was very effective in capitalizing on this changing consumer behaviour. Not only the youth, the company also targeted the adults especially mothers by introducing its famous food drink Bournvita in sachets. As a result, in the wake of changed consumer behaviour, where mothers preferred health-drinks for their children, Cadbury easily entered the homes of even middle class families, who couldnt afford large packs at a time. Over the years, the consumers have become more health and quality conscious and the companies cant be casual about such stricter consumer behaviour. A classic case when Cadbury erred was the Worms controversy. A batch of Dairy Milk chocolate was infested with worms. It lead to a huge controversy. People lost their trust in a quality conscious company like Cadbury and the consequences were loud and clear-Cadburys Diwali time sale of products dropped by a whopping 30%. The company bounced back by launching Operation Vishwas. They recalled all defective chocolate batches and even introduced double and plastic based packaging to ensure safety. They also roped in a reliable and trustworthy role model Amitabh Bachchan to invoke the lost trust of the people in the brand. Eventually, Cadbury was successful and is the market leader in the country. EMAMI GROUP The Emami Group came into existence when two ex-Birla Group executives Radhe Shyam Agarwal and Radhe Shyam Goenka, resigned from their jobs in 1974 to establish an ayurvedic medicine and cosmetic manufacturing unit in Kolkata. They named the company Kemco Chemicals. The founders had a strong belief that India being the land of Ayurveda, people here still had faith in the traditional medicinal system. And if it can be complemented with latest manufacturing techniques, it can be a huge commercial success. They made a risky decision of setting up their first factory in a sensitive area like Kolkata, where labour unrest, strikes and even cases of violence were common. But later, all turned out to be well. Realizing the size and potential the Indian middle class had, Emami targeted them initially and started off with a paltry sum of Rs 20,000.The distribution of the products under the Emami brand was initiated in West Bengal where the founders went to markets and retailers to market their products. Owing to the superior quality and competitive pricing of the products, as compared to other multinational products, the market and consumers easily accepted Emami. Slowly but steadily, efforts were put in to expand the distribution network in other eastern states. Soon, Emami went pan-India, where too it replicated its success as a trustworthy, reliable and traditional-yet modern brand. The basket of Emami products in the 1970s included standard and daily use products like Emami Talcum Powder, Vanishing Cream and Cold Cream. These were primarily focused at the fairer sex and were backed by strong marketing campaigns on radio and post-1982 on TV too. Emami was doing well when in 1978 it came across an opportunity to take over a dying yet credible company Himani Limited. The company was well known in eastern India for many years but due to poor operations and thin profit margins was on the verge of closing down. Emami at that time took a bold decision of acquiring Himani and by capitalizing on it brand equity and factory unit, transform both Himani and Emami into a larger and more successful company. After six years of acquiring Himani, Emami came out with two revolutionary products under the ambit of Himani only Boroplus Antiseptic Cream and Boroplus Prickly Heat Powder. These were introduced to cater to the change in consumer behavior. People were starting to become more conscious about their choices and wanted specialized products. Earlier they used to go for any cream or any talcum powder. But Emami knew that they had to produce and market specialized products like antiseptic creams for minor cuts and bruises and prickly heat powders for Indias scorching summers, to cater to changing consumer needs, so as to assure their sustenance in the future. Riding high on the success of brand Boroplus, the company launched it in Nepal, Ukraine and Russia. There also these products were a great success. The decade of 90s was very important and crucial for Emami. They launched an ayurvedic cool oil under the Himani brand Navratna Cool Oil. The oil was a runaway success and such was the demand of the product that Emami had to expand operations and setup another manufacturing facility in Pondicherry. Till date, Navratna oil is the world leader amongst cool oils. It was developed keeping in mind the changing behavior and lifestyles of the consumers. Lives became more stressful and hectic. People were losing on their health and wellness quotient and illness crept in. Keeping alive the tradition of massage, Emami developed this cool oil to not only cool off a person but also relieve him of stress, headaches, heat and insomnia. The people connected with the product and realized its usefulness in their lives. Availability of the oil in low unit packs further reached out to the rural population. Eventually, Navratna oil found acceptability in all economic sections of the society due to its USP. The setting up of the second manufacturing facility in Pondicherry provided two-pronged benefit to the company. Not only it catered to the heavy demands of Navratna Oil but also opened the markets of south India for Emami lead by Navratna Oil. Not only powders and oils, Emami increased its offering to chywanprash, hair dyes and pain-relief ointments. To further add on to its portfolio, Emami acquired close competitor Zandu and re-launched its products including balms and health foods. But in 2010, Emami had to face a failure in acquiring a tough competitor like Paras Pharmaceuticals. Paras had a parallel portfolio to Emami and included top brands like Moov, Krack, DermiCool, Livon, SetWet, Zatak, etc. If acquired, Emami would have become a major market player in the FMCG sector. But its bid fell short and Paras was eventually acquired by Reckitt Benckiser (RB). Emami now is in talks with RB to acquire Paras. A classic example of Emami changing with times is the launching of Fair and Handsome, a fairness cream for men. Emami understood that Indian men no longer want that dark skin tone and long for a fairer skin, a belief popular amongst the females. So, they launched a specialized product particularly for mens tough skin. Since its inception, Emami knew that its USP is ayurvedic compositions and it has to maintain it. Ayurveda connected well to the people in the 70s and 80s but in the new millennium, people, especially the youth are reluctant to such age-old traditional methods. They are more inclined towards latest researched techniques and formulations for their health and beauty. Emami understood this threat and heeded to the changing consumer behavior by roping in stars like Amitabh Bachchan, Shahrukh Khan, Kareena Kapoor, and many south stars , which promote the products amongst the youth and portray an image that Emami is a brand which offers the best of ayurveda and modern techniques and is a favourite amongst their star icons too.

Subsistence Agriculture

How is intensive subsistence agriculture distinguished from extensive subsistence cropping? Why, in your opinion, have such different land use forms developed in separate areas of the warm, moist tropics? Intensive agriculture is the primary subsistence pattern of large-scale, populous societies. It results in much more food being produced per acre compared to other subsistence patterns. Beginning about 5,000 years ago, the development of intensive farming methods became necessary as the human population grew in some major river valleys to levels beyond the carrying capacity of the environment using horticulture and pastoralism.The transition to intensive agriculture was originally made possible by water management systems and the domestication of large animals for pulling plows. This allowed farmers to get below the top soil to bring buried nutrients up to the surface. It also allowed farmers to maintain much larger fields of crops. Subsistence agriculture is performed by one family , typically. Enough food is generated for that one family to subsist or survive.This is different than agriculture practiced in western capitalist countries, wherein the product is economically profitable, and not just limited to an amount of food produced that allows one family to subsist. Humid tropic conditions are found over nearly 50 per cent of the tropical land mass and 20 per cent of the earth's total land surface an area of about 3 billion hectares. Tropical Central and South America contain about 45 per cent of the world's humid tropics, Africa about 30 percent, and Asia about 25 per cent.As many as 62 countries are located partly or entirely within the humid tropics. Agricultural systems and techniques that have evolved from ancient times to meet the special environmental conditions of the humid tropics include the paddy rice of South-East Asia, terrace, mound, and drained field systems, raised bed systems (such as the chinampas of Mexico and Central America), and a varie ty of agroforestry, shifting cultivation, home garden, and natural forest systems.These systems share common elements, such as high retention of essential nutrients, maintenance of vegetative cover, high diversity of crops and crop varieties, complex spatial and temporal cropping patterns, and the integration of domestic and wild animals into the system. Changes and land transformation in the tropics are occurring at a much faster rate; in some cases, areas are completely transformed and often degraded beyond economically feasible restoration within one generation.Many of the traditional and ancient systems have been deeply modified or abandoned owing to economic, cultural, and social pressures. Question #2 What economic or ecological problems can you cite that do or might affect the gathering industries of forestry and fishing in North America? What is the maximum sustainable yield? Is that concept related to the problems you discerned? The agriculture, forestry, and fishing sector s are the cornerstone of industries that produce and market food, fiber, and fuel.Collectively, the three sectors make up a huge component of the U. S. economy and are a major employer in the United States. Annually, these industries generate more than $1 trillion and create exports exceeding $68 billion. The National Institute for Occupational Safety and Health (NIOSH) estimates that more than 5. 5 million workers are employed in agriculture, forestry, and fishing. These sectors also consistently rank in the top six most hazardous occupations; fishermen and loggers have the highest fatality rates.Collectively, the three sectors consistently have the highest injury and fatality rates of any U. S. industries, so the overall effect on the safety and health of exposed populations in agricultural, forestry, and fishing worksites is enormous. In population ecology and economics, the maximum sustainable yield or MSY is, theoretically, the largest catch that can be taken from a fishery sto ck over an indefinite period. Under the assumption of logistic growth, the MSY will be exactly at half the carrying capacity of a species, as this is the stage at when population growth is highest.The maximum sustainable yield is usually higher than the optimum sustainable yield. This logistic model of growth is produced by a population introduced to a new habitat or with very poor numbers going through a lag phase of slow growth at first. Once it reaches a foothold population it will go through a rapid growth rate that will start to level off once the species approaches carrying capacity. The idea of maximum sustained yield is to decrease population density to the point of highest growth rate possible.This changes the number of the population, but the new number can be maintained indefinitely, ideally. MSY is extensively used for fisheries management. MSY in most modern fisheries models occurs at around 30% of the unexploited population size. This fraction differs among populations depending on the life history of the species and the age-specific selectivity of the fishing method. However, the approach has been widely criticized as ignoring several key factors involved in fisheries management and has led to the devastating collapse of many fisheries.As a simple calculation, it ignores the size and age of the animal being taken, its reproductive status, and it focuses solely on the species in question, ignoring the damage to the ecosystem caused by the designated level of exploitation and the issue of by catch. Question #3 How, in your opinion, do the concepts or practices of comparative advantage and outsources affect the industrial structure of advanced and developing countries? In economics, the theory of comparative advantage refers to the ability of a person or a country to produce a particular good or service at a lower marginal and opportunity cost over another.Even if one country is more efficient in the production of all goods than the other, both cou ntries will still gain by trading with each other, as long as they have different relative efficiencies. The outsourcing of U. S. jobs overseas is part of an economic movement that promises a better life — indeed, a new beginning — for many people in developing countries. It gives technologically savvy young people in countries like India livelihoods that move them into the ranks of the middle class. On the other hand, workers in industrialized nations are being displaced in large numbers.Comparably well-paying jobs are not being created fast enough to make up for the positions headed offshore. Outsourcing has gained notoriety in recent months because of the accelerating volume of job transfers overseas and the sudden vulnerability of high-tech and service occupations that were once thought immune to trade displacement. Services that used to be nontradable (back-office operations, call centers, data management and accounting sectors) have now been made fully tradable b ecause of advances in communications and computational technologies.Location is increasingly insignificant in the provision of these services. Moreover, the ready availability of large pools of technically capable and computer-savvy workers overseas has eroded what traditionally had been considered the distinct preserve of the U. S. and other developed countries: sophisticated, high-end technologies. Developed countries, too, have been major beneficiaries, since their comparative advantage lies in the trade of manufactures, services, intellectual property and capital. Industrialized countries have been vocal in promoting trade openness in these areas and have fiercely defended the need to respect and enforce intellectual property rights (e. g. , pharmaceutical patents and software).There are, of course, adjustment costs that accompany trade, since segments of local populations are hurt by open markets. Despite these costs, poor countries have subscribed to international trade rules and have slowly but steadily opened their markets in those economic sectors (especially manufactures and services) where industrialized countries have much to gain.Having reaped enormous profits from free trade in those areas where they enjoy a distinct comparative advantage, developed countries violate procedural justice whenever they curtail or suppress the liberalization of markets in which they have a comparative disadvantage. This is exactly what the European Union, Japan and the U. S. have done in food markets, making poor countries unable fully to reap the gains of their comparative advantage (agricultural crops). The industrialized nations have steadfastly refused to open up trade in farm goods in an effort to protect farmers from being displaced by global trade. Works Cited:* Jorge, Niosi & Majlinda, Zhequ. â€Å"Aerospace Clusters: Local or Global Knowledge Spillovers? † March 2005. . * Virgin, Bill. â€Å"Global Economy Complicates Outsourcing. † Seattlepi. com. 24 January 2006. . * Lee, Dwight R. â€Å"Comparative Advantage Continued† The Freeman: Ideas on Liberty – October 1999. http://www. fee. org/publications/the-freeman/article. asp? aid=4962. * Wikipedia.

Financial Analysis of Victoria Secret Essay

INCOME STATEMENT ANALYSIS Victoria Secret appears to be a profitable company. Victoria Secret is part of L Brands whose operating income was at $ 211 million, up by $24 million from the last quarter. Specifically at Victoria’s Secret, sales increased by 4% to reach 5.4 billion but operating income decreased by 6% to 1.71 billion. It appears that Victoria Secret’s major expense was their Cost of Goods Sold, COGS, which totaled at 1.3144 billion. The gross profit percentage as at February 2013 was 47.87% (NASDAQ, 2014). BALANCE SHEET ANALYSIS Assets of Victoria’s Secret have steadily increased in the last three fiscal years. As at November 2013, return on Assets was at 12.73% up from 12.2% in January 2013. Return on equities has been high as well, at 105.39% in January 2012, up from 44% in 2011. Liabilities have also sadly increased in the last four years. Expenses have increased from $630 million in August  2013 to $645 million in November 2013 (L Brands, 2014). The Cost of Goods Sold has decreased however, from $1.527 billion in August 2013 to $1.314 billion in November 2013. Total liabilities were at $7.456 billion in November 2013, up from $6.933 billion in August 2013 (NASDAQ, 2014). STATEMENT OF STOCKHOLDER’S EQUITY Retained earnings were in the negatives for Victoria’s Secret stockholders. As at November 2013 it was -$519 million. Common stock was at $153 million but treasury stock was at a negative of -$740 million (NASDAQ, 2014). STATEMENT OF CASH FLOWS The net cash provided as a result of operating activities as at January 2014was at 1.279 billion dollars, while the net cash provided as a result of investing activities at -$106 million (L Brands, 2014). The net cash provided as a result of financing activities was also at a negative at -$78 million. The negative cash flows brought about by investing and financing activities imply that they have cost the company more money in their undertaking than they have brought in. However, the large cash flows brought in by operating activities are more than enough to cover the losses brought about by the other categories, so the negative cash flows do not worry me too much. FINANCIAL RATIO ANALYSIS After conducting the financial ratios for Victoria Secrets, it is clear to me that they are able to fulfill consumer demands while maintaining financial stability. Their Liquidity Measures ratios suggests that the company is able to adequately pay for the liabilities while investing assets  in a strategic manner. Net Working Capital to Total Assets results show that Victoria Secret is able to efficiently turn assets and cover short-term liabilities. The company is in fair health, however there is a decline in 2011-2013, suggesting a slight trouble turning their assets into cash fast  enough to cover their liabilities. For their collection period it takes about 7-8 days for Victoria Secret to collect cash, meaning that they collect cash quickly for reinvestment purposes. Victoria Secret depletes and replenishes their inventory at least five times per year to satisfy their consumer demand. Fixed Asset Turnover for Victoria Secret proves that they are able to use their fixed assets effectively towards sales revenues. They are able to generate $4 to $5 of sales for every $1 that is invested in fixed assets. Their debt/leverage measures the low debt to total asset ratio implies that Victoria Secret assets are financed more through equity rather than debt and that they are using a conservative capital structure; ultimately, by keeping their debts low and manageable, they have a financial advantage. However, Victoria Secret may not be taking advantage of their increase profits that comes with financial advantage. Victoria Secret’s gross profit margin is above industry norms, indicating that Victoria Secret is generating strong sales prices that are relative to their cost of goods sold. Victoria Secret’s operating profit margin ratio shows that they have complete and effective control of their operating costs, however their sales could be increasing faster than their operating costs. The net profit margin ratios suggests that Victoria Secret has a some cushioning that will help protect them in case of hard times. Victoria Secret is effectively managing and turning assets into generating earnings and income on new investments. Victoria Secret makes at least $2.50 per share and is generating a significant dividend for their investors, which leads investors anticipating a higher future growth. SALES FORECASTING During performing the sales forecast for Victoria’s Secret, I learned that for most part that Victoria’s Secret has an incline in their profits. They have however hit a few bumps here and there. The causes of this could be more cost for Victoria’s Secret purchasing materials and production of their products. Another reason for this could also be a slower rate in sales than usual. Like I said, for the most Victoria Secret has seen an incline in their profits and sales throughout the years. Performing the percentage of sales forecast for Victoria’s Secret, I established a forecasted sales of 5  percent which means that they would have to have a sales of $2,808 compared to their last years $2,675. This is a very feasible number for Victoria Secret to achieve, considering that majority of their money in assets outweighs their liabilities. The EFN, External Financing Needed, for Victoria Secret is $2,855. This indicates that Victoria Secret would need to obtain External Financing Needed to achieve the $2,808 forecasted sales level, which 5% more of their current sales revenue. SUBSTANTIAL GROWTH RATE ANALYSIS Victoria Secret has had a steady growth over the analyzed period. It has not been too slow or too fast, but one that shows that they are adequately handling the progressive growth of the company. This shows that Victoria Secret is paying close attention to all details of the organization. CONSEQUENCES FACED BY FIRMS THAT GROW AT A RATE THAT IS NOT CONSISTENT WITH THEIR SUSTAINABLE RATE Growing too fast as crazy as it may sound, does have potential consequences for the organizations. These consequences could come in the form of the organization not being able to fulfill customer demand, hire and/or train capable employees to accommodate for the growth, and difficulty in obtaining cash to support the growth. When an organizations too fast it will need more capital to support the growth. On the reverse side, a growth too slow can be as destructive as growing too fast. Slow growth can have the consequences of wanting or needing to expand their organization, however if they do decide to expand without the support of a sufficient revenue; then the organization runs into potential trouble with investors. If Victoria Secret grew at a rate where it was difficult for them to be consistent with their sustainable rate, then they would have either to find additional funding or consider eliminating some of their debt. IF THE FIRM GREW AT A RATE ABOVE OR BELOW THE SGR, HOW DID IT FINANCE ITS EXCESSIVE GROWTH OR REWARD ITS STOCKHOLDERS FOR THE UNDERPERFORMANCE Since Victoria Secret has a sustainable growth rate that is steady, they did not need to finance an excessive growth or reward their stockholders for an underperformance. Victoria Secret’s continued growth and success will depend on their ability to open and operate new stores and to expand and even remodel existing stores in a manner that is not only timely but also on a profitable basis. Accomplishing their new and existing store expansion goals will depend upon a number of factors, including their ability to collaborate with developers in order to obtain suitable sites for new and expanded stores, the hiring and training of qualified personnel, and the integration of new stores into existing operations. However, there are risks associated with these growths, which could be having a negative effect on their results of operations, financial condition and cash flows. FINAL ANALYSIS Upon my initial analysis on the financial performance of Victoria Secret, I assumed that were a profitable company. After performing the financial ratios analysis, forecast of sales analysis, and the substantial growth analysis; my assumption proved to be correct. Victoria Secret proves to be the most profitable business owned by L Brands. Granted Victoria Secret has had their fair share of bumps in the road, but because of their strategic financial plan, those bumps did not have a great deal of import financial for them. What I have learned from doing the financial analysis on Victoria Secret is that they are an organization who takes knowing their financial performance seriously. They know, understand, and most importantly can successfully create financial strategic plans can serves as a tool for their success, as well as prepare them in case of a â€Å"rainy day†. This is where majority of organizations fail in performing a financial analysis and preparing a financial strategic plan. Most organizations do not want to believe or even admit to the potential of having a â€Å"rainy day†, because in their eyes it sets them up for failure. Victoria Secret obviously knows the importance of embracing the idea of a â€Å"rainy day† and prepares for it, which is one of the many reasons they are such a successful organization. Conducting the financial analysis on Victoria Secret also proves that my prediction about how they are able to turn assets into income to can pay for their liabilities as well as have enough left over to reinvest back into the organization. Victoria Secret clearly understands that growth is crucial for the success of the organization while at the same keeping their growth maintainable without getting themselves into financial trouble. It is clear that Victoria Secret knows the importance of knowing how to do a financial analysis of their organization’s financial performance and using the analysis to build a strategic financial plan. I do believe that if Victoria Secret keeps a diligent watch on their financial performance and does regular financial analysis, they can continue to be a force to be reckoned with that they have been in the retail industry. References Baral, S. (2013). _The Challenge of Attaining Sustaintable Growth ._ Retrieved from http://prj.co.in/setup/business/paper77.pdf Business Town. (2003). _Pro Forma Balance Sheets._ Retrieved from http://www.businesstown.com/accounting/projections-balance.asp Business Town. (2003). _Pro Forma Income Statements._ Retrieved from http://www.businesstown.com/accounting/projections-statements.asp Hoovers. (2014). _Victoria’s Secret Stores, LLC. ._ Retrieved from http://www.hoovers.com/company-information/cs/competition.Victorias_Secret_Stores_LLC.d793812b13b17deb.html L Brands. (2014). _Financials._ Retrieved from http://www.lb.com/investors/financial_information/financials.aspx L Brands. (2014). _SEC Filings._ Retrieved from http://www.lb.com/investors/company_info/sec_filings.aspx Lane, M. (2014). _Percentage of Sales Method._ Retrieved from Business Finance Online: http://www.zenwealth.com/businessfinanceonline/FF/PercentageOfSales.html Lutz, A. (2013). _Why The Lingerie Industry Can’t Compete With Victoria’s Secret._ Retrieved from http://www.businessinsider.com/victorias-secret-will-beat-competition-2013-9 NASDAQ. (2014). _L Brands, Inc. Stock Report._ Retrieved from http://www.nasdaq.com/symbol/lb/stock-report

Psychological Research into Individual Differences in...

Psychological Research into Individual Differences in Attachment An attachment is a close relationship between two persons, characterised by mutual affection and a desire to maintain proximity (Schaffer 1993). When you are attached to someone, you enjoy their company and are distressed when they are not there. The most common attachment researched is between a baby and its caregiver. Ainsworth et al (1978) researched secure and insecure attachments using the Strange Situation. This was to research individual in attachment and to see what types of attachment were formed between the mother and baby. One year old babies were observed during seven episodes to find evidence of separation protest†¦show more content†¦The child behaved indifferently towards the mother and stranger and avoided the mother when she returned. They could be comforted by the stranger. They only showed distress when they were left in the room by themselves. This showed that the mothers sensitivity in an essential factor to determine the strength of the childs attachment. The more sensitive a mother is towards her childs needs the more secure the child is attached. The less sensitive a mother is, the more insecure her child would be (either anxious-avoidant or anxious-resistant). The positive criticisms for Ainsworths study was said to be an important study in the history of attachment research, and that several more recent studies have shown that parental sensitivity causes attachment security. The negative criticisms for this research was that it a highly artificial and lacked ecological validity. Also, the attachment type couldnt happen if it was a fixed characteristic of the child. This is because if the family circumstances changed, then the attachment style would also change. Attachments are a feature to a unique relationship and could be different between a mother and her child, and a father and his child. The final criticism for this study was that it was very unethical for psychologists toShow MoreRelatedMonsters On The Brain : An Evolutionary Epistemology Of Horror Essay1455 Words   |  6 PagesAinsworth, Mary D. Bell, Silvia M. (1970) Attachment, exploration, and separation: Illustrated by the behavior of one-year-olds in a strange situation. Child Development, 41(1), pp. 49-67. Doi: 10.2307/1127388 Asma, S. T. (2014). Monsters on the brain: An evolutionary epistemology of horror. Social Research, 81(4), 941-968. Belsky, J., Steinberg, L., Draper, P. (1991). 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