...and development. We saw several examples from our classmates this week on how culture affected their organizations. My company was obstructed by its owner and the organization’s culture when he decided not to develop and expand a wing on the small private hospital we operate because it had sentimental values to him. One team member found the reading material resourceful and thought it could be used at her organization. The main topic enlightened her was organizational culture and the factors that play a beneficial and liability role in the organization. She noted that “Even though some of the examples exist in my organization, I found it exhilarating to know that management is heading in the right direction by allowing employees to share their views about what happens in the workplace that is definitely beneficial to the organization. Being able to express yourself is important to many individuals within an organization because not only will it help to motivate employees but it also increases productivity which is a key factor in gaining profitability. As for an organization’s liability, this can happen if employees do not want to adhere to new changes in a company such as a new CEO. Often when a new CEO comes on board and begins to make changes to address problems for the betterment of the...
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...* HOW DO CULTURE AND OTHER FACTORS AFFECT THE SOCIAL ORGANIZATION OF A COMMUNITY? * HOW DO CULTURE AND OTHER FACTORS AFFECT THE LEADERSHIP OF A COMMUNITY? * WHAT ARE EXAMPLES OF SOCIAL NETWORKS AND ETHNIC ORGANIZATIONS THAT A COMMUNITY BUILDER CAN USE TO LEARN ABOUT THE SOCIAL ORGANIZATION OF A GROUP AND TO IDENTIFY AND ENGAGE ITS LEADERS? * WHAT ARE SOME OF THE COMMON CHALLENGES THAT A COMMUNITY BUILDER MIGHT FACE WHEN WORKING IN A DIVERSE COMMUNITY? In order to work effectively in a culturally and ethnically diverse community, a community builder needs to first understand how each racial and ethnic group in that community is organized in order to support its members. It is not uncommon to hear a community leader, a funder, a political representative, or a service provider say, "We were not able to engage that group over there because they are not organized. They have no leaders. We need to organize them first." This statement is not always accurate; most groups have their own network of relationships and hierarchy of leaders that they tap into for mutual support. These networks or leaders may not be housed in a physical location or building that is obvious to people outside of the group. They may not even have a label or a title. There is an unspoken understanding in some groups about when and whom they should turn to among their members for advice, guidance, and blessing. Once a community builder understands the social organization of the group, it will become easier...
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...Value of Equity and Per Share Value when there are options and warrants outstanding Aswath Damodaran 1 Equity Value and Per Share Value: A Test l Assume that you have done an equity valuation of Microsoft. The total value for equity is estimated to be $ 170 billion and there are 1204 million shares outstanding. What is the value per share? 2 An added fact l On September 30, 1997, Microsoft had 258 million options outstanding, granted to employees over time. These options had an average exercise price of $ 42 (the current stock price i $ 140). Estimate the value per share. 3 Equity Value and Per Share Value l l The conventional way of getting from equity value to per share value is to divide the equity value by the number of shares outstanding. This approach assumes, however, that common stock is the only equity claim on the firm. In many firms, there are other equity claims as well including: – warrants, that are publicly traded – management and employee options, that have been granted, but do not trade – conversion options in convertible bonds – contingent value rights, that are also publicly traded. l The value of these non-stock equity claims has to be subtracted from the value of equity before dividing by the number of shares outstanding. 4 Warrants l l l A warrant is a security issued by a company that provides the holder with the right to buy a share of stock in the company at a fixed price during the life of the...
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...The first characteristic of common shares is ownership in the company. Investing in common shares means owning a (very small) piece of a company. Ownership is important as it allows the investor to benefit from growth in the company. Besides, another characteristic is it can participate in Corporate Success. As a common shareholder of a public company, you may directly and indirectly share in the profits of the company. Moreover, dividends and capital gain are also the characteristic of common shares. Dividends that the company declares and pays come from the earnings of the company. If the company does well, you can directly benefit by receiving dividends. Normally, there is no right to a dividend for common shareholders (unlike preferred shareholders). But if the company deems it prudent, excess earnings are often paid out to common shareholders. We will look at dividends a little more later, as they are integral to some investors’ strategies. For capital gains, you may indirectly share in the company’s success by the value of your stock increasing. A change in the share value has many causes. Earnings – current, but more importantly the expected future earnings – is a major determinant of share price. If the earnings outlook appears rosy relative to competitors, other companies, other asset classes, etc., the share price should increase. We will review the factors that impact share valuations later. Besides that, common shares have limited liability. A corporation is an...
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...Life Insurance and Superannuation Models Week 1: Life Insurances (Single Life) 1 / 27 Week 1: Life Insurances (Single Life) Summary Life insurance. Benefits payable contingent upon death; payment made to a designated beneficiary. Actuarial present values (APV ) Actuarial symbols and notation Insurance payable at the moment of death Continuous Level benefits, varying benefits (e.g. increasing, decreasing) Insurances payable at the end of year of death Discrete Level benefits, varying benefits (e.g. increasing, decreasing) References Chapter 4 (Bowers, et al.) or Chapter 3 (Gerber) ACTL3002: Week 1 2 Life Insurance Contracts Made between a life insurance company and one or more persons called the policyholders Policyholders agree to pay an amount or series of amounts to the life insurance company called premiums. In return the life insurance company agrees to pay an amount or amounts called benefit(s), to the policyholder on the occurrence of a specific event. Benefits payable under two main types: On or following the death of the policyholder, Payable provided the life survives for a given term e.g. annuity. ACTL3002: Week 1 3 Types of Life Insurance Contracts Whole life insurance contract Benefits are paid on the policyholder’s death Term assurance contract A contract to pay a sum assured on or after death provided death occurs during a specified period, called the term of the contract. Pure endowment contract Provides...
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...What are Share Prices? • Share prices are current prices of shares that one can purchase from the different companies participating in the share market. • Share prices may indicate how companies are doing and how external markets and investors view the performance of the companies. • Despite these market indicators, share prices alone do not give conclusive insight on how businesses are performing. Investors must also understand the underlying context of share activities in the stock market. What Affects Share Prices? Internal Factors • Companies issue dividends to their shareholders. share prices drop in the same value as the dividends paid to the company shareholders. • share bonuses that some companies give to their shareholders. Share bonuses are given in place of cash dividends. • warrants exercise to their existing shareholders. Warrants give shareholders the privilege of purchasing shares in their respective companies at a predetermined date and specified share prices. External factors • uncontrolable factors • When more investors buy shares in a company, share prices would consequently go up. On the other hand, when investors are selling shares and stocks, stock and share prices would fall down • . Competitor activities may also affect share prices. • How the media, economist and analysts perceive the market have huge impact on the share prices. • Positive perception of the trading activities on the stock...
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...Introduction: The main in this research assignment is to determine whether an investor should buy, hold, or sell the carefully chosen shares. The "Three-step down approach" was used to make conclusions and it also served as a guideline to the research. The two stocks that were chosen for the research falls within the financial sector, these two are FNB (First Rand Bank) and Nedbank. A brief analysis of the state of the economy and the financial industry was done. Furthermore a thorough investigation and analysis was done in respect of both firms. The Discounted cash flow and relative valuation techniques are used, both of these uses quantitative information. Cumulative information will also be incorporated to answer the objective and research hypothesis in a scientific and logical way. Statement of the problem: The business problem for the purposes of the research assignment is: Will an investor buy shares in Nedbank or FNB? If an investor owns shares in Nedbank or FNB, will he keep it or rather sell it? As an investor, the primary goal is to find the investment that will give you the highest return with the lowest risk. Investors also looks for the investments that can be bought at a discount in order to deliver a higher return on sales when sold, but also to sell the investment at a premium in order to deliver a higher return on the sale of the investment. To calculate whether the investor is investing at a discount or premium or selling at a discount or premium the investor...
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...Share Capital It is the amount of money contributed by the shareholders for the furtherance of objectives of the company for which it was created. * Equity / Preference Share * Par value * Number of Shares in each category * Total amount TYPES OF SHARE CAPITAL * AUTHORISED CAPITAL * ISSUED CAPITAL * SUBSCRIBED CAPITAL * CALLED UP CAPITAL * PAID-UP CAPITAL AUTHORISED CAPITAL * MAXIMUM amount of share capital that the company is authorised by its constitutional documents to issue to shareholders. * Part of the authorised capital can (and frequently does) remain unissued. * EXAMPLE: AS PER THE CONSTITUTIONAL DOCUMENT OF A NEW COMPANY ‘XYZ.LTD’ IT CAN ISSUE A TOTAL OF 10 LAKH SHARES OF RS 10 EACH FACE VALUE/PAR VALUE: IT IS THE FIXED DENOMINATION AT WHICH A COMPANY ISSUES ITS SHARES. THE FACE VALUE IS MENTIONED ON THE SHARE CERTIFICATE. ISSUED CAPITAL * THE PART OF AUTHORISED CAPITAL WHICH IS OFFERED TO THE PUBLIC FOR SUBSCRITION * EXAMPLE : * OUT OF 10 LAKH SHARES, COMPANY ‘XYZ LTD.’ ISSUES 7 LAKH SHARES OF RS 10 EACH SUBSCRIBED CAPITAL * PART OF ISSUED CAPITAL THAT IS APPLIED FOR BY PROSPECTIVE SHARE HOLDERS & ALLOTED BY THE COMPANY * UNSUBSCRIBED CAPITAL :BALANCE OF ISSUED CAPITAL NOT SUBSCRIBED BY THE PUBLIC * EXAMPLE : SITUATION 1: UNDERSUBSCRIPTION ‘XYZ LTD.’ GETS PROSPECTS FOR 6 LAKH SHARES SITUATION 2: OVERSUBSCRIPTION ‘XYZ LTD’ GETS PROSPECTS FOR 8 LAKH SHARES ...
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...BLUE OCEAN STRATEGY by W Chan Kim & Renee Mauborgne “Large R & D Budgets are not the key to creating new market space. The key is making the right strategic moves.” The article “Blue Ocean Strategy” by W Chan Kim and Renee Mauborgne published in the year 2005 talks about creating an uncontested market space through intelligent strategic moves. By analyzing thirty different industries across a century the writers opined that sustaining high performance standards in an overcrowded industry might not be enough for being a leader or having the major chunk of the market pie. It is possible only by altering boundaries of the currently existing industries. Red ocean strategies as referred by the authors represent all the industries today where each and every company fights fiercely to gain the market space. The process of outperforming the competitors incurs huge cost and hence plummet the margins. The products turn into commodities leading to heavy competition and hence the market space turns bloody. On the other hand, Blue Ocean strategy demand is generated from boundaries outside the domain of the industry. Sometimes this might lead to generation of altogether new industry. The authors have lucidly explained in the article how Cirque Du Soleil was able to create its own market space in a dying Circus industry whose performances were marred by people’s concerns for animals. Cirque was able to tweak the boundaries of both theater and circus industry and rejuvenated the Circus...
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...Stock markets can make or loss investor’s wealth, this call returns and risks. In today, I had chosen two stocks to analysis in Australia stock markets. The first is the NATIONAL AUSTRALIA BANK LIMITED (NAB.AX) in the bank industry, and the second is QANTAS AIRWAYS LIMITED (QTG.AX) in the transportation industry. 1. Which stock would be more sensitive to a change in economic condition? Please answer by referring to and interpreting the value of an appropriate measurement obtained in Part I. Follow the Excel’s spreadsheet outputs for Q5.1 and Q5.2. When the stocks bate is over 1 in the stock markets, this mean the stock would be more sensitive (Berk, Demarzo, Harforo, Ford, Mollica & Finch 2014, p371). The two companies’ bate value are 1.2496 and 1.5029, they are both over 1%, but the second company more highest that the first one. This is because the second one is in the transportation industry, they have dull season or peak period. Therefore the second company is more sensitive to a change in economic condition. 2. How closely do your first and second stocks move together? Please answer by referring to and interpreting the value of an appropriate measurement obtained in Part I. To see the spreadsheet outputs for Q5.3, the two companies’ correlation coefficient are (0.0023) and the correlation is between 1 and -1 (Berk, Demarzo, Harforo, Ford, Mollica & Finch 2014, p362). The tendency is tend to move together and the correlation is (0.4153) to close to 1. ...
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...How to Grow Market Share Promote your business: After all is said and done, it is the business, company, product or service that is known to the target customers that will gain a large market share. This is a very vital element of the steps needed to increase your business market share. It’s just common sense; people buy from those they know. So here is the question, how many people know about your business, company, product or service? You have to constantly put your business, company, product or services in the public’s eye. If you operate on a local level you have to think going to the state level, from the state to the national level, from national to global. What options are available to you for doing this? 1. Social Media: The internet is fast becoming the world’s most populous domain. You cannot phantom the number of people and the number of hours spent online. So, if you are serious about increasing your market share, go online. 2. Advertise, Advertise, Advertise: a. Offline, newspaper, flyers put around town, billboard, radio, word of mouth…. i. Flyers can be distributed in the local area on a monthly basis advertising specials, draws and promotions. ii. Sandwich Boards: Display 2 sandwich boards, one for either store end. b. Display window – see to it that the public can see a small portion of the whole line of your products displayed. 3. Get Back Former Customers: Another way to increase market share is to try and win...
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...2007-08 2006-07 Cr Cr Cr Cr Net Sales 803.00 797.00 788.00 622.00 Net Profit 21.00 10.40 15.80 12.00 Eps Rs 9.70 4.80 7.31 5.53 Cash Eps Rs 27.30 20.65 16.70 14.25 Due to fairly large assetbase, company has been making decent provision for depreciation as well which leads to much higher CASH PROFITS. Figures of 2009-10 are on expanded equity (subsequent to Bonus share issue) Jay Bharat Maruti has performed extremely well in Q1: Q U A R T E R E N D E D 30.06.2010 30.06.2009 Net Sales 225.00 176.00 Depreciation 8.78 11.51 Net Profit 5.51 3.32...
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...Course #: Title Course 5 Hybrids (1): Preference shares Topic 1: Overview....................................................................................................................... 3 Why invest in preference shares? ........................................................................................... 3 What is a preference share? ................................................................................................... 3 What is a preference share? (cont) ......................................................................................... 4 Buying preference shares ....................................................................................................... 4 The preference share market .................................................................................................. 4 What should I look for in a preference share? ......................................................................... 5 Topic 2: Income .......................................................................................................................... 6 Dividends ................................................................................................................................ 6 When might a dividend not be paid? ....................................................................................... 7 What happens if the issuer misses a dividend payment? ........................................................ 7 Do changes...
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...Market Share 1. Air Conditioners Market Share The India air conditioner market in 2011 was estimated at 3.14 million units. According to latest data from market researcher GfK-Nielsen India, LG's volume market share in multi-brand outlets-a key sales channel that accounts for almost 90% of AC dealerships-stood at 17.7% in May 2012 against 18.3% of Voltas. Samsung retained its third slot in room ACs but its market share has plunged from 14.5% in July 2011 to 10% in May 2012. The drop was a result of it vacating the window AC segment this year; now it is not far behind Japanese brand Panasonic, which has doubled market share to 9.9% in the last 10 months. Even Hitachi increased its market share from 5.2% to 7.3% in the period. Players Brand | Company | Onida | Mirc electronics Limited | Videocon | Videocon International Limited | LG | LG Electronics India Limited | Samsung | Samsung India Electronics Limited | Whirlpool | Whirlpool of India Limited | Godrej | Godrej and Boyce Mfg. Co. Limited | Voltas | Voltas Limited | Electrolux | Electrolux Kelvinator | Blue Star | Blue Star India Limited | Daikin | Daikin Industries Limited | Past Market Share Name of the Company | 2002-03 | 2005-06 | 2007-08 | Blue Star | 14.53 | 16.51 | 17.98 | Voltas | 12.12 | 11.95 | 14.11 | L G Electronics India Pvt. | 13.54 | 18.85 | 13.2 | Samsung India Electronics Pvt. | 3.93 | 7.01 | 6.88 | 2. Washing Machine The Indian washing machine market continues...
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...QUIZ QUESTIONS SHARE CAPITAL 1. What impact does the bonus issue of shares have on the equity of a company? Why? (1 Mark) 2. Define a share option? (1 Mark) 3. Provide one reason why a company would wish to buy back its own shares? (1 Mark) 4. Distinguish between a renounceable and non-renounceable rights issue? (1 Mark) 5. What is a private placement of shares? (1 mark) 6. Name two reasons why a company could make an appropriation of its retained earnings? (1 Mark) 7. Prepare journal entries to record the following unrelated transactions of a public company: (3 Marks) a) payment of interim dividend of $50,000 b) transfer of $50,000 from the general reserve to retained earnings c) payment of 100,000 bonus shares fully paid at $2 per share from retained earnings. 8. The equity of Master Shipping Ltd on 30 June 2009 consisted of: 280,000 ordinary shares, issued at $2.40 each, called to $2.40 $672,000 Calls in arrears (24,000 shares x 80c) ($19,200) The directors forfeited the shares on which the call was outstanding. The company’s constitution provides that forfeited shares cannot be reissued and that the balance of any forfeited amounts, net of reissue costs, must be refunded to the former shareholders. Refund cheques were sent to shareholders. Prepare journal entries to record a) forfeiture of shares b) refund of forfeited amounts to shareholders...
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