Crime And Deviance - 1550 Words

In studying crimes and deviance, sociologists look to explain what types of behavior are defined as deviant as opposed to criminal, who defines deviant behaviors, why people become deviant, and how society deals with deviant behavior. Deviance is defined by sociologists are behavior that significantly goes against expected rules and norms. Criminal behavior is behavior that violates the law. Sociology studies groups as opposed to individuals, so when studying crime and deviance, sociologists are looking at the factors that influence groups as a whole to engage in crime and deviant behavior. In defining deviant behavior, the definition may vary throughout different groups. Not all groups of people will consider the same behaviors†¦show more content†¦The functionalist perspective believes that each aspect of society is interdependent and makes the society function as a whole. Deviance may seem as though it is dysfunctional for society, but functionalists believe that dev iance is necessary because it puts an emphasis on behaviors that are normal and creates a social standard for behavior. Symbolic internationalism is a sociological theory that uses symbols of everyday life. According to this theory, people attach meanings to symbols and act according to their interpretation of the symbols. Sociologists hold that the symbolic interaction theory shows that deviance and criminal behavior are attributed to the meanings surrounding deviance and how people view those meanings. The functionalist and symbolic theories focus on the positives of society. The third theory that sociologists use is the conflict theory. The conflict theory focuses on the negative aspects of society. Conflict theorists encourage social change. The conflict theory looks at how different groups of people compete against one another because of differing values. The functionalist theory interprets all parts of society: the functional and dysfunctional. Although crime and de viance may seem to be dysfunctional to society, they are important aspects of society because they help to create social norms and social order. Crime andShow MoreRelatedCrime, Deviance, And Deviance899 Words   |  4 Pagesa people so drawn to crime and deviance in the news? What is it about human nature that has a secret sense of interest or even some excitement when we turn on the television and see something major going on like a high speed chase or the like? Interestingly, the closer it happens to be to where we are, the more interested we become as opposed to something happening out of state, or further off in another country. The point here is not to defend or glamorize crime and deviance, but to point out thatRead MoreCrime, Deviance, And Deviance3445 Words   |  14 PagesCrime and Deviance This report will begin by making a distinction between the concepts of crime and deviance, accompanied by the concept that crime is a social construct. Then this report will evaluate some theoretical approaches to how and why crime exists. Further reference will be made to the existing crime statistics, and the validity and reliability of the official statistics that measure crime. Finally, this report will look into the presentation of crime in two areas of the mass media. AtRead MoreDeviance And Crime And Deviance1623 Words   |  7 PagesDEVIANCE AND CRIME Deviance occurs when an individual commits something that disregards or breaks a social norm or folkway; deviant behaviors are considered criminal when it breaks more serious mores. These mores or laws, unlike norms or folkways, have more formal punishments and sanctions, such as fines or imprisonment. The purpose of these punishments or sanctions, according to Diana Kendalt (2017) in Sociology in Our Times, is to give retribution, make a general deterrence, incapacitation, orRead MoreCrime and Deviance1123 Words   |  5 Pagesexplanations of Crime and Deviance Labelling theory paved the way in understanding how deviance was something defined by social processes. In this way social agencies such as the police defined what was deviant. Marxists took this view even further by examining the power of certain social groups to define deviance and create the laws which secured social conformity. Marxists see crime and deviance as not coming from moral or biological defects but defects within social order. Crime is an inevitableRead MoreCrime and Deviance810 Words   |  4 PagesDa’Vaughn Hawkins Introduction of Sociology 29 October 2015 Written Assignment #3 Crime and Deviance With the rise of crime rates in the last couple of years, people are wondering if locking up the criminal and throwing away the key would be effective for social control. What these people fail to see is that by just throwing away the key, you aren’t actually helping that person to strive for and become anything better. The thing that would be more effective than throwing away the key isRead MoreDeviance And Crime1611 Words   |  7 Pagessociology book is about deviance, crime, and social control. This chapter was very interesting to me because it shows you how much violence is in our world that you do not really think about or hear about because it is overlooked. Everyone focuses on the big crimes, such as school shootings or terrorists acts, and overlook the victimless crimes and smaller things. This chapter also taught me a lot about deviance and made me form an opinion on whether it is a good or bad thing. Deviance is â€Å"a violationRead MoreCrime and Deviance1885 Words   |  8 Pagesfor the high proportion of young, working class males shown in official statistics on crime.† This essay will start by making a distinction between the concepts of crime and deviance, followed by an examination how such concepts have been acquired and accepted by society. Further reference will be made to the current crime statistics, and analyse some of the possible explanations for the high proportion of crime that is being committed by young males. Finally, consideration will be given to whatRead MoreCrime and Deviance2170 Words   |  9 Pagescauses crime and deviance in society, biological or social factors? Definitions of crime and deviance would change according to time, place, situation and culture, as what is acceptable in one would be unacceptable in another. Crime would entail the breaking of the law according to time and place, deviance would be an action that is unacceptable to the majority within the time and place, but both can alter during time, place, culture and social norms including religion. One example of crime wouldRead MoreCrime and Deviance4103 Words   |  17 Pagesfunctions and causes of crime and deviance within contemporary British society, yet it fails to account for white collar crime. Evaluate this statement. Every society is guided by laws and regulations, therefore, breaking of the law is known as crime or deviance. Crime and deviance will be defined with examples and how what is crime and deviance depend on culture and society will be analysed. Thus, a criminal act in one place is a norm in another place. Crime and Deviance changes as the society evolveRead MoreCrime and Deviance3081 Words   |  13 PagesCrime and Deviance from a Sociological and Psychological assessment: The sociology of deviance is the sociological study of deviant behavior, or the recognized violation of cultural norms. Cultural Norms are societys propensity towards certain ideals; their aversion from others; and their standard, ritualistic practices. Essentially the norm is a summation of typical activities and beliefs of group of people. There are various Sociological deviance theories, including Structuralist: why

The Conflict between China and Vietnam Over Territory

My article summarizes the fact that as a result of the conflict between China and Vietnam over territory, the anti-Chinese protests intensify. This is displayed as the protesters torch factories in a Vietnamese industrial park. The article, Protestors torch factories in southern Vietnam as China protests escalate, was written on May 15th, 2014 by Euan McKirdy. As per reports, a variety of properties were damaged by the furious mob, but the main target were the factories owned by Chinese firms. The dispute started over the implementation of oil rigs in waters that both countries claim as their own territory. Surprisingly, throughout this act of violence the police and the government both didn’t respond to this situation as they believe nothing could’ve been accomplished with them. These protests caused negative externalities as the factors of production were affected. For instance, the labor force had to evacuate to avoid being injured. Also, the buildings have been dest royed amidst the protests as they are either partially or fully damaged. Apart from that, their foreign relation with Singapore has been impacted by an economic standpoint as the government has been informed that their company among others has been broken into as well as set on fire. Moreover, they demanded Vietnam to revive order before it gets worse and the financials of foreign countries gets impacted. This protests has been the largest the country has seen in many years. The protests are viewed asShow MoreRelatedCompeting Claims. The Disputes In The Scs Have Evolved1709 Words   |  7 PagesCompeting Claims The disputes in the SCS have evolved over decades and engage multiple regional states that have territorial claims in the South China Sea including China, Vietnam, the Philippines, Brunei, Malaysia, and Taiwan. While not located directly in the region the United States, Australia, Japan, and India all hold economic, territorial, and security concerns over the disputes. Specifically, the United States has been involved in the territorial disputes to uphold maritime security laws andRead MoreThe Potential Hazards Of The South China Sea1629 Words   |  7 Pagestension and activities of competing countries increase in the South China Sea this in turn has increased potential implications for its environment. One major implication is the potential hazards that are threatening coral reefs and other components of the local marine ecology within that region. The once untouched ecosystem is at danger because of aggressive engagements of ocean floors in search of natural resources. Since 2013 , China has orchestrated reclamation constructions on reefs in the disputedRead MoreThe Israeli Palestine Conflict And Conflict1430 Words   |  6 PagesIsraeli-Palestine Conflict 4 Location 4 Summary of events 4 Parties concerned 4 Potential solutions 4 Ukraine Crisis 5 Location 5 Summary of events 5 Parties concerned 5 Potential solutions 5 Conflict in the South China Sea 6 Location 6 Summary of events 6 Parties concerned 6 Potential solutions 6 Rankings 7 Bibliography 8  World Map http://www.worldmapsonline.com/images/murals/miller_world_physical_wall_mural_lg.jpg Israeli-Palestine Conflict The Israeli-Palestine conflict is an ongoingRead MoreChinas Expansion Into The South China Sea Case Study1351 Words   |  6 PagesAround the year 2015 China has started building artificial islands on disputed territory in the South China Sea for the purpose of resource mining, installment of surveillance and defensive infrastructures. Countries in the South China Sea that lay economic and territorial claims such as the Philippines, Malaysia, and Japan have expressed security concerns regarding China’s aggressive expansion unto territories such as the Spratyl Islands and Rubi Reef as China had increased security and surveillanceRead MoreThe Conflict Of The South China Sea Threatens Us China Relations1296 Words   |  6 PagesThe main point of the article is that the ongoing conflict in the South China Sea threatens US-China relations and, if not resolved, will lead to instability in the region. The author’s solution to this is that leaders of both countries work toget her to achieve a better understanding of the concerns coming from both sides, as well as lay out consequences for certain actions and to commit themselves to avoiding further escalation. This is tricky because neither country wants to look like it is givingRead MoreEssay On China Global Power1260 Words   |  6 Pagesforeign policy towards its neighbors. 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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

The Happiest Day of My Life free essay sample

There is hardly any living being who has never gone through ups and downs in his life. In fact, life is full of bad as well as good incidents. Some of them may be forgotten with the passage of time whereas others leave an everlasting imprint on ,the mind. One feels delighted when one is favour with fortune but plunges into despair during misfortunes. In fact, a wise man is one who is neither overjoyed in prosperity nor takes adversity to heart. last year, I passed the Higher Secondary Examination. Although I bad fared well in the examination. I was not so hopeful of getting a first-class. I was very much anxious because the question of my career was involved in it. A day earlier, when the result was expected to be published in the local newspapers, I spent a restless night. I, along with my friends, got up early in the morning and went to the newspaper hawker on the way. We will write a custom essay sample on The Happiest Day of My Life or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Finally, he appeared, shouting aloud, the declaration of the Higher Secondary results. His voice were piercing my heart. I hurriedly bought the paper and started spotting out my roll number. All sorts of expressions were appearing on my face. It was a matter of immense surprise and pleasure to find that I stood second in my school, securing a first-class. God fulfilled my desires. I felt grateful to Him. My other friends also passed, securing good marks. In order to celebrate our happiness, we chalked out a program to go to some picnic spot. We decided to go to Okhla. We reached Okhla, a lovely picnic resort, at 12 noon. There was a heavy cavalcade of people. The banks of the canal were occupied by the visitors. We identified a place under a banyan tree and sat there. We also took with us all the paraphernalia lunch. We had our lunch to our heart’s content. Then, we listened to music. As we were lost in the sweet music of our transistor, we heard loud cries. I immediately rushed towards the canal and saw to my shock and surprise that a boy was drowning. He was crying for help. I immediately jumped into the water and swam towards the drowning boy. After a great struggle, I dragged him towards the bank. He was in a very bad state. When I observed him carefully, I was surprised to know that he was an old classmate of mine. He was immediately given medical aid and after some time, he regained consciousness. I was delighted to see him recovering. My joy knew no bounds because I had saved the life of a boy who happened to be my old classmate. This day was a day of great joy and happiness. Not only I secured the second position but also did a brave and noble act by saving a boy from going into the jaws of death. This day would go down as one of the happiest days of my life. The happiest day of my life free essay sample I woke up earlier than my brother as every other day of the week. I took a fifteen minute warm shower. It left me with twenty five more minutes to get dressed, have breakfast, brush my teeth, say good bye to my mother and get in the car no later than 7:05. I got to school on time, even though my brother came out of the house late as he used to. It was a Thursday. Those first two forty five minute math periods made the morning go by too slow for me. I took the math test and did pretty well at it. I had prepared well the day before with a really good friend of mine. I was walking to the chemistry rooms when my phone in my left pocket vibrated. I took it out and looked at the shiny screen. As soon as I saw my father’s name on that screen I realized something was not right. We will write a custom essay sample on The happiest day of my life or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He would not call me in the middle of a school day just to talk. He would want me to focus in school and do well. I answered the phone, my father sounded worried. She told me not ask any questions, just to follow her instructions closely. I was told to find my brother as soon as possible, walk with him to the school picking up zone and get in the car with my brother. Our driver would take us back home were my father was. When I was in the car with my brother my dad called the driver and told him to take us to the hospital. We were going to meet him and my mum there. As soon as my brother and I found about the change in plans, we looked at each other in the eyes. I immediately notice the fear in brother’s eyes. To be honest, I was really scared too, probably more than he was. But I did not say anything. We arrived at the hospital. I saw my dad on the phone waiting for us at the entrance. He was smoking. Seeing my father smoking made me more worried. I had never seen him smoke before. He hated it. As soon as he recognized the white van, he threw the cigarette away. I looked at my brother; he was looking out the other window. I did not tell him what I just saw. I did not want him to worry. The car stopped right in front of my dad. He opened the door and I jumped out of the car and hugged him. He noticed that I was worried right away and with a smile on his face told us he had a surprise for us. â€Å"What good things happen in hospital?† We walked in the elevator. He pressed the metal button. 9th floor, I still have that clear image in my head. We walked out of the elevator and my dad told my brother and I close our eyes and hold his hands. So did we. His warm hands made me feel more secure. We walked down the hall with our eyes closed. Suddenly we stopped, we stopped. When we walked in the room, as soon as my father told us to open our eyes I saw my mother lying on the bed. A tear fell of my eye, but I was not in pain. Right next to my mother I saw the most beautiful thing I have ever seen. It was a girl, she was sleeping, she was my sister. I still remember that day as one of the happiest days of my life.