Business Strategies And Objectives Of Next Economics Essay

Business Strategies And Objectives Of Next Economics Essay Next is a UK based retailer with its Headquarters in Leicester, UK and offer wide variety of brilliantly designed, outstanding quality of trend and accessories for men, women and children collectively with a full variety of home ware (Next Plc). In 1864 it was founded by J. Hepworth Son under the name of Gentlemanà ¢Ã¢â€š ¬Ã‚ ²s Tailors (Next Plc 2011) Next is the oldest company which has been trading for nearly 150 years and was initially created in 1982. Most recently Next was established as authorized Clothing and Home ware supplier to the London 2012 Olympic and Paralympics. Next will also supply outfit for Team GB for the opening and closing ceremonies, and will fabricate uniforms for 4,500 technological officials and suits for reception staff and will deliver bed linens and other home textiles for the athletes village (Next Plc 2011) . Next owns more than 500 stores in UK. Next has franchises more than 180 stores and active in continental Europe, Scandinavia, Russia, India, Japan and the Middle East. Next provides a directory, it is a home shopping catalogue and website with nearly 3 million active customers and also has an international website capability in more than 30 countries worldwide (Next Plc). Next Plc is listed on the London stock exchange and is part of the FTSE 100 Index. Total revenue for the year ended January 2011 were  £3.5 billion with pre tax profits of  £551 million (Next Plc). Nexts other business groups include (Next 2010): Ventura: Clients wishing to subcontract their consumer contact management and accomplishment activities Venture provides customer service management to them. Lipsy: Through wholesale, retail and internet channels, Lipsy create and sell its own labelled younger womens trend product. Next sourcing Ltd (NSL): Design sources and buy Nexts products. Business Strategies and objectives of Next The prime financial objective of Next group is delivery of sustainable long term growth in earning per share (EPS). Next believes the following strategies will help achieve the objectives at its best (Next Plc , january,2011): Maximising the amount of Next Directory consumers and their standard spend. Maintaining groups financial power through a well-organized balance sheet and financing composition. Managing gross and net margins by continues cost control, well-organized management of stock levels, working capital and improved product sources Developing and improving next product ranges, achievement in which is reflected in total sales and sales performance. Cancelling and Purchasing Next shares while its earning are attractive and in the interest of shareholders generally. New stores review must meet challenging financial criteria prior to the investment is ready and achievement is precise by calculating achieved sales and profit contribution against appraised goals (Next Plc , january,2011). Marketing and Marketing Mix Place: Operates in UK and Europe, Middle East (reportlinker 2009,february ). Also operates in Scandinavia, Russia, India and Japan (Next Plc). Next sources operate in mainland China, Honkong, Srilanka, India and UK (Next Plc , january,2011). This show, Next stores are spread globally. Product (or services): Includes womenswear and accessories, menswear, home interiors, childrenswear, Next flowers, NX sports, electrical, designer branded fashion and baby boutiques (Next Plc). Improvement in customer service by introducing initiatives such as next day delivery for orders placed before 9 pm (Next Plc , january,2011). Customers may return or collect any item at Nexts store nationwide, which is more convenient for customers. MARKETING MIX Promotion: Next promotes its product through advertising, Internet (www.next.co.uk). Next directory was an important promotional catalogue which helped to raise the downmarket image of mail order business (British fashion company) Through TV advert (Next plc) and discount vouchers and Gift Cards. Price: Dont focus on lower income group. Not Cheap. NEXT plc sells reasonably priced clothing for men, women, and children; housewares; and furniture (Next) . Prices differ for different range of products. Prices in Nexts printed material and on its website are inclusive of VAT (Next). Offers stylish and affordable clothing (Next). For marketing and marketing mix definition refer to appendix 1 Business Environment in Which Firm (Next) Operates NEXT recognises that it has a duty to administer the impact of its business on the environment both now and in the future. Key areas of focus are: power use and emissions from stores, distribution centres, warehouses and offices; fuel emissions from the carrying of goods to either stores or customers homes; and Waste created in warehouses, distribution centres stores and offices. NEXT is committed to reducing its carbon footprint by reducing energy utilization during its minimising, operations and recycling waste, cutting transport emissions and reducing the packaging in its products. Ratio Analysis Profitability Ratios Gross Profit Ratio: Gross Profit Ratio of Next Plc Gross Profit Ratio of MS From the above line graph of Next Plc, Gross profit ratio is significantly increasing till 2010 as Next has increased its revenue, enlarged profits and is constantly investing in its own business (Next Plc 2011). In January 2011 there has been 7% decrease in gross profit ratio because of increase in cost of sales by 2% and revenue and gross profit has increased but just a little bit not a huge increase. While comparing Next Plc with MS it can be noticed that gross profit is fluctuating and after 2005 there is again a decrease in 2009 which was because of increase in cost of sales by 3% as compared to previous year whereas gross profit of Next plc in 2009 has increased as compared to previous years. This shows that Next Plc is more constant and likely to give a tough competition in coming future. Operating Profit Ratio: Operating Profit Ratio of Next Plc Operating Profit Ratio of MS As noticed from the above line graph, Operating profit ratio has significantly increased till 2008 but there is huge decline in 2009 i.e. 10% decrease its because of decrease in gross profit and revenue but increase in net foreign exchange and expenses (Next Plc 2009) however after that Next has regained its position and the operating profits has been increasing since then till now. Comparing Next Plc and MS its clearly concluded that Next Plc is having more profits then the latter and its profits are being increased regularly till now whereas MS should apply some strategies to increase its profit margin. So, finally it is concluded that Next plc without any doubts has high profits and is ahead of MS. Return On Investment: ROI of Next Plc ROI of MS From the above bar graph it can be notice that year 2008 was worst in terms of ROI as it was negative because of negative buyback of shares resulted in reduction of equity i.e., the value of equity got reduced and was negative (Next Plc 2008) . In 2010 Next regained its position there were buy back of shares leading to reduction in equity and increase in ROI. In 2011 Low Operating profits the finance cost has increased by 5% as compared to 2010 leading to little bit decrease in ROI. With comparison to MS, Next as a high Return on Investments in 2010. ROI was highest (31%) in 2010 in Next Plc whereas MS ROI was just only 5% as compared to previous years. This concludes that Next has low equity which helps it to gain its good position whereas the equity is high in case of MS which is not good for the company. Return on Capital Employed: ROCE of Next Plc ROCE of MS From the above Bar graph it can be concluded that in 2008 Net profits has been increased by 33% as compared to 2007 leading to increase in ROCE. In 2009 long term borrowings (27%) total equity has increased respectively due to medium term notes and de-recognition of financial liability resulting in decrease in ROCE. But in 2010 and till now ROCE is increasing due to increase in Net profits. Comparing MS and Next Plc it can be noticed that comparing the two companies Next is having Much higher ratio and reputation as in 2010 MS had 19.09% which was 2% lesser then 2009 whereas ROCE ratio is increasing i.e., was 59.73% which was 7% greater than previous leading to increase in Profits which is good for a company. Liquidity Ratios Current Ratio: Current Ratio of Next Plc Current Ratio of MS From the Bar graph above it can clearly seen that current ratio was really good which shows the sound liquid position of Next Plc except in year 2008 as the ratio is less than 1 (0.94 times). It is because of Accounts receivable and investments have decreased as compared to 2007. But after 2008 there is an ideal Liquidity situation which is superior for any company. Comparing with MS it is clear that NEXT Plc has more sound position then it has because current ratio is less than 1 which shows that the company is more liquid and less sound. It expresses the working capital correlation of current assets available to meet the companys current obligations. MS would be unable to pay off its obligations if they came due at that point and shows that the company is not in good financial health. So this concludes that Next Plc has a good financial health and can even pay off its obligations as and when required comparatively its opposite with MS. Acid Test Ratio: Acid Test Ratio of Next Plc Acid Test Ratio of MS Companies with ratios of less than 1 cannot forfeit their current liabilities and must be looked at with an acute caution (Investopedia). From above it is noticed that except 2009 the acid test ratio for the company is less than 1 which is a serious matter to look into but less acid ratio doesnt mean that the company is bankrupt and Next Plc is making every effort to prove itself but still comparing it with MS it can clearly be noticed that the ratio is much less as which means MS cannot forfeit their current liabilities as compared to Next Plc and suggests that MS should take some serious steps to increase its acid test ratio. Investment Ratio: Long Term Gearing: LTG of Next Plc LTG of MS Next appears highly geared, it represents a momentous rise in gearing from 339.8% in 2007 to negative 842.3% in 2008. This is due to significant decrease in retained earnings in 2008 together with perseverance borrowings which exceeded shareholders funds. Gearing ratio increased as Next Plc borrowed excessively for financing store development which increased long term debts. As gearing is exceeding 100% it indicated substantial bankruptcy risk for next (Next Plc 2008). Comparing with MS, MS had a good position in 2007 and 2008 as the percentage was less than 100 (74.9 and 98.6).MS gearing also exceeded the 100% scale for high threat companies, it is better off than Next Plc as it has larger shareholder funds and retain earnings and utilising them efficiently. MS therefore involve lower bankruptcy as compared to Next Plc. Interest Cover: Interest Cover of Next Plc Interest Cover of MS The interest cover for Next Plc was 16.23 times in 2007 to 11.05 times in 2008 which gradually decreased to 10.45 in 2009 which is because of decrease in net profit and increase in finance cost by 15% cost due to interest payable on bank facility, medium term notes, bank borrowings. But there is an increase after 2009 which tells that Next Plcs elevated pricing strategy has guide to greater profit margin and thus provides enough operating profit before interest and tax to pay off the interest. In comparison, MS interest cover rate (4.69) was about half that of next (10.43) in 2009 and shown a downward trend. MS had been trying to raise its market share at the expense of lower margin whereas it just opposite in the case of Next Plc. For MS its recommended that it should look to decrease its load of debt expenses. 4) Management Efficiency Ratios: a) Inventory Days: Inventory days of Next Plc Inventory days of MS Next stock turnover had been higher during the year. Nexts rising selling price have adversely affected consumer spending and stock turnover raised to 49 days till 2009. b) Receivable Days: Receivable Days of Next Plc Receivable Days of MS c) Credit Period (Days): Credit days of Next Plc Credit days of MS Working Capital Cycle: From the above inventory days, receivable days and credit days Working capital cycle is concluded. Working Capital Cycle 2006 2007 2008 2009 2010 2011 Inventory Days 51 47 46 49 48 51 Debtor Days 60 64 65 69 66 68 Creditor Days 20 19 19 23 19 58 Working Capital Cycle 91 92 92 95 95 61 From the above table it is concluded that debtor days are fluctuating. Debtor days increased from 2007 till 2009 and then in 2011. In 2010 and 2011creditor days has been doubled from 19 in 2010 to 38 in 2011. Working capital cycle efficiency improved from 2007 till now and 2011 is considered to be the most efficient year. 5) Investor Ratio: a) Earnings per share (EPS): EPS of Next Plc EPS of MS By the end of 2007 b) Dividend per Share (DPS) DPS of Next Plc

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Service delivery is one of the most challenging tasks that face many organizations today. This is even worse in cases where factors such modality of fulfillment of a given service, challenges inherent in it and productivity measurements are not properly understood. My company deals with a complaint resolution service. This is a service product that is delivered directly to clients who depend on it for the purpose of redress concerning misunderstanding or disagreements as far as the company’s products are concerned. Customer dissatisfaction is highly dangerous for the existence and prosperity of any given business as it may make the business to collapse so easily. It is upon this concept that the company operates with a view to ensuring that all customer related misunderstandings are dealt with swiftly and compassionately so that clients do not feel neglected or misunderstood. Complaint resolution, as hard as it is, is a very delicate interaction between the client and the company agents. This means that it should be handled carefully by taking into account the key requirements that it deserves. The requirements for complaint resolution are many and generic. They include patient and credence, feedback and time, customer inclusion and respect, record and documentation among others. First, and most obviously, patient of the highest level is needed. This is recommended in the cases where an agent is involved in a complicated case that may need more time to handle in one hand, and urgency on the other. In addition, any company agent is required to be patient with controversial clients who may not give room for explanations as to what could be the remedy of a given misunderstanding. Patient is also recommended as the best way of... ...ining and continual financial support. Even though it is difficult to measure the productivity of this service product, customer complaint resolution, parameters like increase and decline in customer-related claims is a perfect gauge of its performance. Concisely, it is suffice to say that customer complaint resolution is highly necessary for any business. This is because any customer dissatisfaction may of consequences to the survival and prosperity of the company. As a result, all customer-related complaints should be dealt with swiftly and compassionately by taking into account all the key requirements that underpin the exercise lest any deviation cost the company dearly. On the same note, this service should be carried procedurally by taking into account all the recommended steps involved in order to ensure quality customer service delivery in the company.

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High school â€Å"back in the day Betty Joy Par's High school experiences Jack Schaefer Jack. [email  protected] Com Waterloo- After interviewing Betty Joy Parr about her high school experiences I learned many Interesting things. Currently Betty lives in Huston, Texas. Her husband of 53 years Larry Parr was her high school sweet heart. She Just had a birthday and was 74 on May 30th. After attending high school at Roy Miller High School in Corpus Christi, Texas from 1953 to 1958.After graduating with at class of 475 students she went on to work and noir collage as she helped her husband trough collage as she explained, â€Å"There wasn't money for college so I got a job at a Savings and Loan as a Teller. I put my husband thru college In Arlington, Texas. † As she continued about some major things In history that she could remember she said, â€Å"In Dallas witch Is near where we were living at the time Kennedy was assassinated. Everyone was in shock at the bank where I work ed. † She spoke about some of her favorite high school memories of high school.I asked ere what her favorite things were to do or be in was she said, â€Å"being in the Band and football games. I was a twirler or majorette in the band. † As we talked I asked what her favorite subject was she told me keyboarding. She said, â€Å"Our School had Just gotten five new electric typewriters and we each got a chance to use them. † She told to me that she was involved in many things other then just school. She was also involved in yearbook and student counsel as security also expressing that there was other groups that were at school.She said, â€Å"drama team and Y-teens were offered along with the sports of Football, basketball, tennis, track, baseball. † Betty shared that her two best friends are still close with her. She stated, â€Å"Marlene Price and Betty Jane Sorrel were my best friends. Marlene lives In corpus Christi, Texas and Betty Jane lives here In H ouston. She also said that she soul gets together with 12 other friends from high school. As I went on to ask more about how high school was like I asked what the had to wear she responded, â€Å"We would wear neck scarf and sweaters with skirts, lots of ethicists to make them stand out. She also said they has to wear something different at gym time. As I started to learn more about was a normal say was Like I wondered about the teachers she said, â€Å"We thought they were old but we had respect for them. We knew they were there to teach us and that we better listen. She said she never got in real trouble knowing that there would be a bad consequence. I also was Curious about how relationships were back then. She said, didn't date until your sophomore year. † She said for there first date that it would be to the ivies and then it would be a double date.She told me that a typical Friday night was going to the movies or the popular hang out place Mac's Drive Inn or some type As I had learned so much from her I asked about her overall experiences she said, muff don't feel old, you feel the same inside yourself but when you look in the mirror you see you have aged. † I had to laugh a little bit when I hear this. I think that it is interesting and fun to learn about how what I am courtly going trough 60 years latter really has not changes that much.

Athletic Scholarship For College Athletes - 1646 Words

The NCAA’s purpose is to direct competition in a just, safe and sportsmanlike manner, and to assimilate intercollegiate athletics into higher education so that the experience of the student athlete is the best it could be. It describes a professional team as an organization that provides any player excess amounts of money for involvement on the team.â€Å"Because of this paying student athletes would cross the line between professionalism and amateurism and would demolish the spirit of being a student athlete. Although players are not paid, they are often given athletic scholarships to attend college. In one year alone more than 5,000 athletic scholarships are given in the Division one (Div 1) level for just football. Moreover NCAA is by far the largest collegiate athletic association in the U.S. with well over 1,000 schools in its fold. Divisions I, II, and III serve to establish these athletic programs. Formal athletic scholarships can be extended to athletes that play for Div I and II schools creating many opportunities for athletes to acquire an athletic scholarship. This exemplifies that Top College athletes already do get paid, in the form of amazing scholarships. Furthermore, those with professional ambitions benefit from the critical training and exposure that enhances their draft prospects and bring them to the next level; this shows that colleges dispense roughly $1billion dollars in athletic scholarships each year. Giving student athlete’s payment would be equal toShow MoreRelatedEssay on Athletic Programs of Universities918 Words   |  4 PagesFrequently, colleges are better known for their athletics than academics. Universities thrive off their athletic programs and in return, most reward their athletes through scholarships, apparel, and experiences. However, some believe that these rewards are not sufficient and that college athletes should be paid a salary. 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