Innovation And Technology Management Media Essay

Innovation And Technology Management Media Essay Ever since cameras were developed, it had evolved into many different types. This report will be focusing on the improvement of different types of camera, from film to digital used by consumers. A few case studies of camera makers will also be included to show how innovation affects each company. A camera is a device that captures images and the images were stored in the device or transmitted to another location. These images may be still or moving images. Still images means photograph while moving images can be videos or movies. The term camera was from the word camera obscura which was an early mechanism used to project images. Camera obscura is an optical device which can project surrounding image on a screen and used in drawing and for entertainment. Camera obscura consists of a box with an opening in one side. The light from an external scene passes through the hole and strikes a surface inside causing an image of the scene being reproduced but was turned upside down, with the color and perspective being preserved. The image will then be projected onto a piece of paper and traced which produced a highly accurate representation of the scene. http://upload.wikimedia.org/wikipedia/commons/thumb/2/26/Camera_obscura_box.jpg/220px-Camera_obscura_box.jpg Figure 1: Drawing of camera obscura A camera may work with the light of the visible spectrum or with other portions of the electromagnetic spectrum. It generally consists of an enclosed hollow box with an opening in one side for external light to pass through and a recording or viewing surface for capturing the light at the other side. Most of the cameras will have a lens being placed at the front of the cameras opening which is used to gather the incoming light and focus all or part of the image to the recording or viewing surface. The sizes of the opening are mostly controlled by using a diaphragm mechanism but some of them will use a fixed size opening. Most of the cameras today use an electronic image sensor for storing photographs on flash memory. Before that, from the 20th century, photographic films were used For a typical still camera, it takes a photo at a time when the user presses the shutter button unless the user uses continuous fire mode. As for a typical movie camera, it continuously takes 24 film frames per second when the shutter is pressed and holds on until the shutter is released. Some movie camera works by pressing the shutter button once and the second time will stop it. http://t3.gstatic.com/images?q=tbn:ANd9GcThEehclSMeXPhA1DEisnDoFw1w5_YCT5-6TFcNfv5q30kXSs-p-g http://t0.gstatic.com/images?q=tbn:ANd9GcTxh6ovUrXMGAZPP7tlsthvgrJ5jiMvKJD8swHykuo80AdRgOGT Figure 2: Digital still camera Figure 3: Digital movie camera Until today, cameras has evolved from the camera obscura and continued to change through many generations of photographic technology, including daguerreotypes, calotypes, dry plates, film and different types of digital cameras. Background In the past, camera obscura was used by people for drawing or viewing purposes. In 1827, the first permanent photograph was made using a sliding wooden box camera which used the concept of camera obscura to build. Although camera obscura was already available before 1827, there was no way to preserve the images produced by it apart from manually tracing the images. The preservation of the images was made possible after the invention of photographic lapel processes. These preserved images were then being called as photographs. The earliest cameras were of room sized, which were able to accommodate one or more people inside. By Niepces time, the camera technology had gradually evolved. Cameras became more compact, making portable handheld cameras which were suitable for photography possible. Although cameras technology had been keep improving, a camera in its barest form is still simply a light tight container that used a lens with iris, a shutter that has variable speeds and contains a sensitive piece of media. The media is either film or a digital sensor. http://www.photographica.nu/cameracol/dall273.jpg Figure 4: sliding wooden box camera Types of cameras Currently there are different types of camera in the market. The different types of consumers cameras are as following: Digital camera, a camera that takes video or still photographs by recording images on an electronic image sensor Remote camera, a camera placed by a photographer in areas where the photographer generally cannot be Movie camera, a type of photographic camera which takes a rapid sequence of photographs on strips of film Pocket instamatic camera, a series of inexpensive, easy-to-load camera Single-lens reflex camera, a camera that typically uses a mirror and prism system that permits the photographer to view through the lens and see exactly what will be captured Twin-lens reflex camera, a type of camera with two objective lenses of the same focal length. Video camera, a camera used for electronic motion picture acquisition Camera phone, a mobile phone which is able to capture still photographs and video Mirrorless interchangeable-lens camera, a type of digital system cameras equipped with an interchangeable lens. Technology Developments Film Camera When the first camera was invented, it used an engraving which was placed onto a metal plate coated in bitumen and then exposed it to light. The shadowy areas of the engraving will block the light while the whiter areas allowed the light to react with the chemicals on the plate. When the metal plate was placed into a solvent, an image will appear. The photograph required eight hours of light exposure to create and after appearing, it would soon fade away. In 1839, a more convenient and effective method of photography was developed. Daguerres process fixed the image onto a sheet of silver plated copper. The silver surface was polished and coated in iodine to create a surface that was sensitive to light. The plate was then putted in a camera and exposed for a few minutes. After the image was painted by light, the plate was bathed in a solution of silver chloride. This process created a lasting image which would not change even if exposed to light. With this process, daguerreotype cameras were created. The cameras used in the daguerreotype process were made by opticians and instrument makers. The camera had a sliding box design with lens placed in the front box and a smaller box was slid into the back of the larger box. The focus was controlled by sliding the rear box forward or backwards. When the sensitized plate was placed in the camera, the lens cap would be removed to start the exposure. In 1879, the dry plate consisting of a glass negative plate with a dried gelatin emulsion was invented. The dry plates could be stored for a period of time. With this dry processes, hand held camera was now possible as it absorbed light very quickly. In 1888 the box camera which uses dry plate was introduced. The box camera was a wooden, lighted tight box with a simple lens and shutter that was factory filled with film which allows for 100 shots. The photographer pushed the shutter to produce a negative. Once the film was used up, the camera with the film still in it was mailed to the factory where the film was removed from the camera, processed and printed. The camera was then reloaded with film and returned. In 1889 flexible roll film was invented. The film has a base that was flexible, unbreakable and could be rolled. Emulsions coated on a cellulose nitrate film base made the mass produced box camera a reality. In the mid-1914, 35 mm camera was invented. The camera used 35 mm roll film which was developed based on the flexible roll films. In the early 1940s, color films were brought to the market. These films used the modern technology of dye-coupled colors in which a chemical process connects the three dye layers together to create an apparent color image. In 1948, the first Polaroid camera was sold to the public. The camera allows the photographer to create an instant photograph. The disposable camera was introduced in 1986. It was a single use camera which allowed the photographer to take photo until the film was used up. After which the photographer will send the film for processing and the camera would be disposed. Digital Camera Need to group into sub sections of point and shoot (or known as compact digital cameras), Video cams, digital SLR and include camera phones here. For each section, show examples through the use of pictures. In 1981, the first consumer camera was produced by Sony. It takes still photographs by recording image on an electronic image sensor. Digital and film cameras shared an optical system, typically using a lens with a variable diaphragm to focus light onto an image. In 1986, the first sensor used to detect megapixels was invented by Kodak. In the same year, a prototype for an analog electronic SLR camera which was able to store images digitally was created by Nikon. In early 2000, the first digital SLR directed at consumers was released by Fujifilm. In 2008, mirrorless interchangeable lens camera emerged. Unlike a digital SLR, it does not have a mirror based optical viewfinder. http://upload.wikimedia.org/wikipedia/commons/thumb/a/a0/Leica_M9_Framework.jpg/220px-Leica_M9_Framework.jpg Figure 4: Mirrorless interchangeable lens camera Camera Handphone In 2000, the first camera phone was developed by Sharp. The phone had 0.1 megapixels sensor and 256 color display. In 2003, Samsung introduced the first 1 megapixels camera phone. In the same year, Casio introduces the first 2 megapixels phone. In 2004, Samsung introduced the first 3.2 and 5 megapixels phone. In 2005, Samsung introduced the first 7 megapixels phone. In 2006, Samsung introduces the first infrared camera phone and the first 10 megapixels camera phone. At this time, more than 50% of the world handphone had camera in it. http://c2499022.cdn.cloudfiles.rackspacecloud.com/wp-content/uploads/2007/01/samsung-sch-b600-10-megapixel-cellphone.jpg Figure 5: Samsung 10 megapixels phone In 2007, the first 5 megapixels camera phone with 3x optical zoom was introduced by Samsung. In 2008, Digital Imaging Systems announced first 9 megapixels camera phone and Samsung introduced first 8 megapixels camera phone. In 2009, Samsung introduced first 8 megapixels camera phone with touchscreen and LG launched the slimmest 8 megapixels camera phone. In the same year, Samsung also introduced first 12 megapixels camera phone with 3x optical zoom. In 2010, the first 14 megapixels camera phone was introduced by Altek and Sony ericsson introduced the first 16 megapixels camera phone. At this time, more than 81% of the worlds cell phone had camera in it. In 2012, Nokia introduced the first 41 megapixels camera phone. Nokia 808 Pureview Figure 6: Nokia 41 megapixels camera phone Cases Studies Introduction The purpose of this section is to clearly illustrate that having good innovation and technology strategy management techniques are of paramount importance to sustaining any business. The authors will analyze how major companies such as Canon remain prosperous in the market, while also analyzing the fall of a once hugely successful giant in the imaging business, Kodak. Case study of Kodaks Rise and Fall Rise of Kodak: Kodak was one of the major leading brands and pioneers of the camera making business. Founded in 1880, its rise to dominance of the imaging industry came after its introduction of color films and Instamatic camera to the market in the 1960s.The companys near monopoly of film businesses continued in the 1970s as sales skyrocketed to a point where it had 90% of film and 85% of camera sales in the United States of America according to a 2005 case study for Harvard Business School. (http://www.guardian.co.uk/technology/2012/jan/22/john-naughton-kodak-lessons). Fall of Kodak: By the 1980s, the emergence of a serious competitor in Fujifilm and Kodaks dominance in the US market was undermine after Fujifilm gained a share of the market by offering lower-priced film and supplies as well as adopting very aggressive marketing which included winning sponsorship rights to be the official film of the 1984 Los Angeles Olympics, an opportunity which Kodak ironically passed up. During the 1990s, although Kodak tried to maintain itself as a healthy business by diversifying to other areas of business (including medical ,pharmaceutical (http://www.csub.edu/kej/documents/economic_rsch/2012-04-23.pdf),printers for both consumer and commercial use as well as chemical manufacturing.), these businesses were all bought and not developed in-house leading to income being shared (http://www.economist.com/blogs/schumpeter/2012/01/how-fujifilm-survived). Eventually when sales from film developing and printing went into sharp decline nearing year 2000,earnings from these additional businesses simply do not scale up to the revenue gained from its core business which relied on film. In addition to the above, the development of digital photography technology and Kodaks own hesitancy of making the switch from film photography to digital photography proved to be one of the major causes of its eventual demise. This is clearly depicted as even though Kodak was a pioneer of digital cameras (Kodak first introduced it in 1975), the product was dropped as there was fear that it would threaten its core photographic film business which was hugely successful then. Sales and revenue soon begun to go into a decline with the arrival of the digital age and a change in core business model was made ultimately. Kodak soon introduced a range of digital cameras, inkjet printers as well as became one of the first to launch a photosharing website (www.ofoto.com) between the 1990s and 2000s to cope with the need to transform with the digital age. While efforts were made to transform and keep up with the digital photography, its business model and technology strategy was still flawed as Kodak still revolved around the idea of printing photos. For instance, in spite of being pioneers of photosharing online, Kodaks website merely served as a vessel for providing a service for online ordering of prints. (http://www.cbsnews.com/8301-505143_162-57363629/why-kodak-failed-and-how-to-avoid-the-same-fate/) In addition, the authors observed that despite innovating in the correct direction enjoying huge success with its line of digital cameras in the early 2000s, Kodak failed to anticipate the dynamics of digital photography and had no alternatives when consumers are no longer interested in photo printing but, sharing photos online in social media websites such as Flickr, Instagram and Facebook. Kodak being overly diversified, adopted the wrong technology strategy and did not exploit and capitalize early on a core digital camera technology Kodak pioneered, while investing heavily in developing technology for taking pictures in mobile phones and other digital devices. As a result, this allowed other companies such as Canon, Nikon and Sony to overtake and innovate further to produce hugely successful lines of digital cameras which eventually dominate the digital photography market. Furthermore, Kodaks success with digital cameras was short-lived towards 2010 when smartphones technology advanced and begun to include powerful cameras which are just as capable as the pocket digital cameras that Kodak was manufacturing. The following figure illustrates how camera phones such as the iPhone have gained a strong foothold in the market share of most popular cameras amongst consumers. Conclusion In a nut shell while aligning our observations to the concepts of technology management, there were multiple reasons contributing to the downfall of the once powerful giant in imaging market, Kodak. But this cannot be attributed entirely to the failure of incorrect technology forecasting or a lack of innovation. In fact, a report did circulate among the leaders of Kodak depicting the eventual permanent shift from film to digital by 2010 in 1979. It can also be observed from the earlier part of this chapter that Kodak was not at a shortage in the area of innovation. Consequently, the authors believe that it was not doing the correct technology road mapping which allowed other brands of digital cameras and camera phones to overtake them in the imaging market, leading to its ultimate demise and bankruptcy. This can be broken down into following: -The over reliance on a single product for revenue (film) -Lack of in-house expertise when diversifying into other areas of business -Slow transition from film to digital age -Despite early success, failed to forecast that digital cameras would eventually have low profit margins as more companies entered the market in mid-2000s, along with the emergence of camera phones -Slow transformation from a then overly diversified chemical manufacturer to a company mainly focused on imaging Had Kodak been able to identify and develop technology alternatives before making a better technological investment decision such as perhaps investing in SLR technology or social media websites which allows photosharing such as Flickr, Kodak might have been able to avoid their present predicament. This therefore emphasizes the importance of technology road mapping, as not having alternatives for a set product needs within different timeframes can have detrimental effects on businesses overtime. Case study of Canon Background In this section the authors will analyze how Canon, a company much like Kodak in terms of innovation and diversification of businesses, manage to still stay as one of the major leaders imaging market while facing the same challenges of having to make the switch from film to digital photography and decline of photo printing. Technology Strategy and Forecasting Canon introduced Japans first ever 35-mm focal-plane-shutter camera at a time when all high-quality cameras originated form the Europe, in 1935. Immediately after its founding and similarly to Kodak, it saw the importance of diversification and acted promptly with the introduction of Japans first indirect X-ray cameras, office equipment (calculators) and notably Japans first plain paper copying machine in 1970. As a result, the company adopted the management slogan of cameras in the right hand, business machines in the left and by then the company had already globalized (branches were set up in Europe and New York) successfully as exports took up 50 % of the total sales. Unlike Kodak, Canon continued to emphasize on the importance of in-house expertise by unceasing innovation of technology with the aim of becoming the best in all major business areas, be it in imaging (both medical and consumer) or multifunctional copiers technologies. This is achieved through constant innovation efforts such as setting up collaboration with Kyoto University in joint research projects. Shortly in 1976, Canon introduced the worlds first SLR with embedded micro-computer (AE-1), delivering powerful performance and along with its good ergonomics, propelled it into worldwide popularity among amateur and professional photographers alike, marking the start of its strong foothold in the share of the imaging market besides other current majors such as Nikon and Sony up till now. Besides being a leader in imaging industry, Canon also invested greatly on innovation in the technology of printers for both business and personal use. Its multifunctional copier division was notably very successful enabling it to hold the highest market share in the industry for the last 2 decades. Conclusion While Kodak had started to slip into decline because of its over reliance on film, Canon adopted good technology strategy and demonstrated good technology road mapping by making the best technology investment decisions with focused, continual innovation on camera technology (notably SLRs) and multifunctional copier technology. Hence Canon embraced the decline of films, photoprinting and the gradual replacement of compact digital cameras by smartphones through gaining a strong position in market areas of amateur and professional photography with their innovation in digital SLRs. The figure above shows its dominance in digital photography alone with smartphones. Along with ever changing times, Canon continued to strengthen product competitiveness in major business areas which also includes multifunctional copiers. In conclusion, while Canon had many business areas, Canon were not over-diversified like Kodak and one major difference leading to Canons success in diversification was because of the in-house expertise and technology management Canon had in dedicated business areas, an implication that income would not be shared with other companies as these business areas were not bought. Conclusion Future predictions of camera industry Global Camera Industry The world photographic products market has generated sales of over $55 billion in 2010, according to MarketLine. Cameras are leading the market with a sale close to $35 billion which is more than 60% of the overall market. Growth is expected to be accelerating at a rate of more than 3% every year, bringing the whole market up to over $65 billion by 2015. This consists of cameras, optical instruments, video cameras and other photogenic equipment. Digital photography continues to take over the sales of traditional cameras and films. And this is expected with the upcoming future of the industry Market Outlook However, with technological advances companies will need to continue investing in research and development of new technologies to stay in industrys cutting edge. There will be demands of new technologies of the consumers. As mentioned previously, Canon embraced the decline of films and photoprinting by the innovation of digital cameras. With online photo sharing/storing websites like Flickr, Google Plus or even Facebook, the generation of films and photoprinting is almost over proven by what has happened to Kodak. However smart phone cameras are slowly replacing the digital cameras. (Many often people are taking photos with their iPhone or Samsungs smartphone.) The percentage of photos taken with cameras and smartphones are declining and rising individually. Smartphones now have cameras of great qualities and functionalities in terms of programs known as apps and they will slowly continue to eat into the camera market. This has been shown by the appearance of smartphone picture uploading apps or social media like Instagram, Path, Facebook and many others more. But this may not necessarily remove digital cameras totally off the market. With constant technological advances, cameras with high performance capacity will become cheaper to produce. It will become a cycle that what used to be expensive and high-end products becomes the old technology and is cheaper to produce due to the advances. So low end cameras is becoming something with more advanced features. The consumer video camera market too is declining. Consumers are using their smart phones or DSLR to shoot videos. The video camera market will only move in the higher end markets (video producers, film makers) in the near future. Conclusion From our case studies above, it shows how Kodak and Canon tried applying technology management in their company to produce innovative product to the consumer market. However economic and social factors too play a part in innovation. By looking at Canon, few reasons why they were successful in the imaging market were because of their constant innovation on SLRs , coupled with the fact they were always targeting the market share of photography hobbyists, both in entry levels and professional level photography. However even though incorporating technology and innovative management into a organization does not guarantee 100% success. It depends on many factors such as the society, economic, the current market situation or even any other external factors. Kodak had tried displaying technology and innovation management in the corporation, however they have failed. Their over reliance on a single product for revenue (film), the lack of in-house expertise when diversifying into other areas of business and their slow transition from film to digital age these were the few factors that has caused their downfall of today. Our predications for the next 10 years: à ¢-  3D still and moving pictures will become standard in the next 5 years à ¢Ã¢â€š ¬Ã‚ ¢ Cameras will have more on-board processing software that perfects the final image without the need for a computer à ¢Ã¢â€š ¬Ã‚ ¢ Images to be printed on and saved to wafer-thin electronic paper called e-paper. Recently showcased by LG this flexible, full colour display is the wave of the future, and could be used in so many different products including e-readers. à ¢Ã¢â€š ¬Ã‚ ¢ Immediate upload of your image once taken to your favourite internet site with Bluetooth connection for cameras http://www.firstcall-photographic.co.uk/userfiles/file/digital_imaging_1990-2010.pdf Figure 1: http://en.wikipedia.org/wiki/Camera_obscura Figure 2 3: http://www.sony.com Figure 4: http://en.wikipedia.org/wiki/Mirrorless_interchangeable-lens_camera Figure 5: http://www.unwiredview.com/2007/01/09/10-megapixel-samsung-sch-b600-phone-nears-worldwide-launch/ Figure 6: http://www.nokia.com/global/products/phone/808pureview/specifications/

Financial Ratio and Costco

Acct Info for Decision Making Project on Costco Wholesale Corp. Costco Group 2012 History & Background Founded by  James (Jim) Sinegl  and  Jeffrey H. Brotman,  Costco opened its first warehouse in  Seattle, Washington, on September 15, 1983. Sinegal had started in wholesale distribution by working forSol Price  at both  FedMart  and  Price Club. Brotman, an  attorney  from an old Seattle retailing family, had also been involved in retail distribution from an early age. Wal-Mart  founder  Sam Walton  had plans to merge  Sam's Club  with Price Club.In 1993, however, Costco merged with Price Club (called  Club Price  in the Canadian province of  Quebec). Costco's business model and size were similar to those of Price Club, which was founded by Sol and Robert Price in 1976 in San Diego, California. Thus, the combined company, PriceCostco, was effectively double the size of each of its parents. Just after the merger, PriceCostco had 206 locations gen erating $16  billion in annual sales. PriceCostco was initially led by executives from both companies, but then Sol and his son Robert Price founded Price Enterprises and left Costco in December 1994.In 1993, when growing competition threatened both Price Club and Costco Wholesale, they entered into a partial merger just after Price’s earnings dropped to 40%. The new company, named PriceCostco, Inc. , focused heavily on international expansion, opening stores in Mexico, South Korea, and England. Despite best efforts to recover losses, sales continued to drop. Disagreement between the two leaders, Robert Price and Jim Sinegal, regarding company direction and recovery policies soon left the merger in tatters.In 1994, the breakup was formally announced. Sinegal continued to manage PriceCostco while Price’s breakaway company was named as Price Enterprises. The first Price Club location was opened in 1976 in an old airplane hangar,  previously owned by  Howard Hughes, and is still in operation today (Warehouse No. 401, located on Morena Boulevard in San Diego). In 1997, the company changed its name to Costco Wholesale and all Price Club locations were rebranded Costco. As of December 011, the Company operated a chain of 598 warehouses in 40 states and Puerto Rico (433 locations), nine Canadian provinces (82 locations), the United Kingdom (22 locations), Korea (seven locations), Taiwan (eight locations, through a 55%-owned subsidiary), Japan (eleven locations), Australia (three locations), and 32 warehouses in Mexico through a 50%-owned joint venture. Financial Highlights Net Revenue Year| 2012| 2011| 2010| Costco Net Revenue| 12,314,000| 11,176,000| 9,951,000| (Currency in USD) The net revenue of COST increase every year, it was a good sign.Year| 2012| 2011| 2010| Costco Net Income| 1,709,000  | 1,462,000| 1,303,000| (Currency in USD) COST did better in the following two years. And COST had most 40. 6 thousand dollars increase from 2011 to 201 2. Total Assets Year| 2012| 2011| 2010| Costco Total Assets| 27,140,000  | 26,761,000  | 23,815,000  | Costco Total Liabilities| 14,779,000  Ã‚  | 14,759,000| 12,986,000  | (Currency in USD) The total assets and liability of COST shows that the company purchased a lot of assets on its credit during these three years. That might be not a good sign, because COST might not have enough cash.Earnings per Share Year| 2012| 2011| 2010| Costco EPS| 3. 89| 3. 3| 2. 92| It’s increasing in every years. It means COST are profiting during every years so that they can paying the EPS. Financial Ratios Analysis Profitability Ratios 1. Return on Assets (ROA) Year| 2011| 2010| 2009| Costco| 5. 78%| 5. 69%| 5. 09%| Return on assets ratio is calculated by dividing net income by average total assets. Return on assets represents the cents in profits for every dollar of assets. This measures how efficiently and effectively the company uses its assets to generate profits.These numbers tell the ability of Costco to make profit. Costco has a positive net income so that its ROA is increasing past 3 years. 2. Return on Equity (ROE) Year| 2011| 2010| 2009| Costco| 12. 81%| 12. 50%| 11. 31%| The Return of Equity is calculated by dividing net profit by total shareholders’ equity. Return on equity measures a corporation's profitability by revealing how much profit a company generates with the money shareholders. The number above shows that Costco is with stable growth in past 3 years, however, ROE ;15% that will attract more investors to invest.Effectiveness Ratios 3. Asset Turnover Year| 2011| 2010| 2009| Costco| 3. 52| 3. 40| 3. 35| Asset turnover  is calculated as sales divided by average total assets. It measures  a firm's efficiency on using its assets to generate sale. The higher assets turnover is, tells the better the company does. Costco’s assets turnover tells us that it did a better job in 2011 because the ratio increased 0. 12 compared with 2010 which only grew about 0. 05. 4. Inventory Turnover Year| 2011| 2010| 2009| Costco| 12. 67| 12. 31| 11. 94| Inventory turnover is calculated as COGS divided by average inventory.It measures how many times per year the company sells its inventory. Firms with a low cost strategy want a high inventory turnover, while firms with a differentiation strategy will experience a lower inventory turnover. The ratios for Costco are increasing during the three years, and Costco seems to have done a better job in selling their inventory because it sells its inventory faster and faster. Liquidity Ratios 5. Current Ratio Year| Aug. , 2011| Aug. , 2010| Aug. , 2009| Costco| 1. 14| 1. 16| 1. 11| The current ratio is calculated by dividing current assets by current liabilities.This ratio measure if a firm has enough in current assets to cover his current liabilities. The current ratios for Costco have gone up during 2009-2010, and decreased during 2010-2011. However, the ratio is greater than 1 which means Costco has enough assets to cover his current liabilities. 6. Quick Ratio Year| Aug. , 2011| Aug. , 2010| Aug. , 2009| Costco| 0. 55| 0. 56| 0. 49| The quick ration is calculated by dividing the sum of cash, account receivable and short-term investment by current liabilities. As with the current ration, an analyst would want to see a minimum of one for the quick ratio.However, the number above shows that Costco’s quick ratio is under 1, which means that Costco is not doing well on its job. It might because Costco has a too big liability to its business or Costco has a less current asset to cover its liabilities. Solvency ratios 7. Long-Term Debt to Assets Year| Aug. , 2011| Aug. , 2010| Aug. , 2009| Costco| 0. 05| 0. 09| 0. 10| The long-term debt to assets is calculated by dividing long-term debt by total assets. This tells us that if a firm can pay its long-term debt. If a firm does not a ability to pay off its long-term debt, shareholder might be left with nothing.The lower long-term debt is the better ability a firm has to pay its debt. Costco is doing well by keeping the long-term debt ratio (average) around 0. 08, which means its assets will be enough to pay the long-term debt. 8. Debt to Equity Year| Aug. , 2011| Aug. , 2010| Aug. , 2009| Costco| 0. 10| 0. 20| 0. 22| The debt to equity is calculated as dividing total liabilities by total shareholder equity. It tests the ability of the firm to cover its interest payment. The higher the ratio is, the lower the likelihood of default.Costco’s debt to equity ratio is quite stable around 0. 10-0. 22 during 2009-2011. Summary According to Costco's 2011 annual report, the Costco Wholesale has a growing rate in making profits. It is one of the largest retailer stores in the global market. Unlike most retail operations, it has built its model around providing only what people want to buy quickly or in volumes that make up for its discounting practices. As the economy has slowed, the warehouse d iscount strategy has come into focus as the go-to source for both consumers and small business supply needs.Costco and its subsidiary companies are mostly like engaged in the operation of membership warehouses in the United States, Canada, the United Kingdom, Japan, Australia, through majority owned subsidiaries in Taiwan and Korea, and a 50 percent-owned joint venture in Mexico. Costco operates membership warehouses based on the concept that offering member’s low prices on a limited selection of nationally branded and private-label products in a wide range of merchandise categories will produce high sales volumes and rapid inventory turnover, management said in a recent filing.Here are the competitive advantages and disadvantages for Toyota based on our research data and analysis: Competitive Advantages: * Know their customer: Costco goes after a certain type of customer: small business owners who are status conscious and who have money to spend on bargain-priced premium ite ms like Dom Perpignan champagne, luxury watches and tech gadgets. * Deliver bigger value, not just lower prices: Costco doesn’t just offer low prices, it offers exceptional bargains on elegant, Treat customer service as an investment, not a cost to be shed: Costco has been criticized by some Wall Street analysts for their high labor costs –and Costco does pay their employees quite well Costco Wholesale SWOT Analysis Strengths: Costco Wholesale offers its customers and consumers lowest prices on a wide range of national and international branded products and goods, in a wide arrange of merchandise categories. The products and services of the Costco Wholesale are reliable as the company deals in best available quality products at competitive prices.The company pays attention to details and has various strengths that add to its success. These factors include rapid turnover of the inventory, running an efficient operating structure, reduced cost of handling of merchandise and generation of high sales volume at each of its store. Costco Wholesale gives preferences to it customers and provides them best value for the money. Weaknesses: Costco’s business conditions constantly change because external and internal forces make other business participants to alter their actions.The driving forces in this sector are the major underlying causes changing business and competitive conditions. Operating on a large scale means difficulty in bringing changes to grass root levels Opportunities Costco Wholesale is one of the first companies to have a growing acceptance of internet shopping. Costco created a website in the United States as well as website in Canada to be more effective and competitive in the internet market. The company is constantly working to make its distribution channels stronger and enter new potential markets.By offering value and working more towards developing a strong loyal customer base the company can gain more market share. Threats Warehouse clubs not only compete in one sector or market but it competes with a wide range of other types of retailers which include Wal-Mart Dollar General, supermarkets, general merchandise chains, specialty chains, fuel stations and internet retailers. Their competitiveness changes because the different types of products they deal in. Due to its tremors growth and growing market share, the company has caught the attention of many of the market leaders and its competitors.The industry of wholesale has a number of individual companies that are highly competitive and have very effective strategies. They have developed loyal customer bases and everyone is relentlessly fighting for the greatest market share. Costco’s major competitors include Wal-Mart. Recommendation 1. Develop more types of the products. The Costco involved every kind of products in the store, but we can see there are just few types of each product, so the optional become less and less.Every customer wants to the lower price at Costco, but they still want to have more choices on each product. And every single product just has the biggest packet so that it may cause to the waste. So the member of the Costco doesn’t have any choices to select the same product, such as the size, color and so on. 2. Improve the quality of the products. The strategy of Costco is the right products in the right place for the right price, but the right price should be with the good quality, but some customers said the quality of the clothes is not good.We cannot deny that most of the products have the good quality, but the company should check on every product, or just a little customers' unsatisfaction will influence all the customer's choice. 3. Increase the amount of the stores. The company has 600 locations wide world. In US, there are 433 locations. As an international global company, Costco should develop more location out of the United States so that it can open a new market in the world. For othe r countries, the customers are still inconvenient to purchase in the Costco. It will decrease the confidence of Costco's members.The Costco's strategy is the right products in the right place for the right price. If the members of other countries doubt the right place, the strategy will be broken. 4. Reduce the prices of some products. The company guarantees the low price and most of the products are, but we still can see a lot of products are more expensive compare to other stores, especially Jewelry. For most customers can understand that the high quality with the high price, but the huge amount of numbers, such as 12,234. 99 will make the members confuse to the strategy of the company

Cultural Mosaic - 826 Words

â€Å"Cultural Mosaicâ€Å" There are many different types of ethnicities throughout the world, all of which have their own system of living, praying, and joining with one another. We as humans refer to this as culture, culture sums up everything that we do as citizens or do differently as persons in one word. This word is used all over the globe to give people what they deserve, their own way of living. The United States of America is a very diverse place which is made up of many cultures or ways of living. We usually refer to this as the â€Å"melting pot† of the world because of how different we are from each other as well as how all of our different cultures interact with each other. Another term some use is there expression â€Å"cultural mosaic†,†¦show more content†¦We shouldn’t confuse the cultural mosaic and melting pot with the term multiculturalism, which refers to the state of racial, cultural and ethnic diversity within the demographics of a specified place. State woul d refer to the way people have developed themselves around the changes that have been brought upon them. Canada is world renown for being one of the most tolerant, welcoming, and democratic countries in the world - aShow MoreRelatedAmerica: A Cultural Mosaic Essay933 Words   |  4 Pagescharacteristics is difficult to restrict. Presently, culture is viewed as consisting primarily of the symbolic, untouched and conception aspects of human societies. The distinctive culture is not a man made object, tools, or other tangible cultural elements but how the members of the group interpret, use, and perceive them. It is still fresh in my memory the shock I got when I came to this country. This country has a unique superficial culture, I could not imagine. The way people treat eachRead MoreThe San Vitale in Ravenna and The Dome of the Rock in Jerusalem753 Words   |  4 Pageshighly Jewish and Christian supremacy. Although separated by over 100 yrs, both of these domes share multiple similaritys including a projected confidence of their originating culture. The San Vitale is primarily built of brick with a marble and mosaic interior. The ground plan consists of a octagonal organization with a central dome supported by a tall cylindrical drum. Separated by clerestory windows, is a dome in a concentric form of clay tubed rings and seven curved exedras connected to vaultedRead MoreMosaics in Early Byzantine Era1165 Words   |  5 PagesThe increase in mosaics in churches in Late Antiquity and the Byzantine Era was largely due to the influence of the Roman Emperor Constantine (ruled from 306 to 337 AD). During his rule as emperor, Christianity became the major religion and there was a push for more buildings to house the followers of Christ. Along with the new buildings there was a need to decorate these places of worship accordingly and express the religion in a grandiose sort of way. Mosaics were generally the inexpensive andRead MoreHouse of the Vetti and House of the Fawn Essay2749 Words   |  11 Pagesand decorative aspects of s omeone’s home explained a lot about their monetary wealth and what sort of social status they upheld. People who had money and good social status would decorate their homes with High Greek culture for example myths and mosaics of Greek heroes. Whereas people from a lower class, tended to use less grandeur within the decorative style of their homes. The houses that I shall be comparing are House of the Fawn and House of the Vettii. I shall be looking at the dà ©cor foundRead MoreEssay about The Mosaic of American Culture, Its No Melting Pot590 Words   |  3 PagesThe Mosaic of American Culture, Its No Melting Pot Culture is a behavior that consists of several critical elements, such as language, religion, race and ethnicity, clothing and politics. Culture is what one does in his/her daily life. In order to understand others, we must first keep in mind that every culture carries its own set of values and assumptions. Culture is an evolving, ever changing civilization, which includes several different groups people. For immigrants, America is a land ofRead MoreEssay on Melting Pot or Mosaic, Which One?616 Words   |  3 PagesMelting Pot or Mosaic, which one? Culture is a behavior that consists of several critical elements, such as language, religion, race and ethnicity, clothing and politics. Culture is what one does in his/her daily life. In order to understand others, we must first keep in mind that every culture carries its own set of values and assumptions. Culture is an evolving, ever changing civilization, which includes several different groups people. For immigrants, America is a land of opportunity; for othersRead MoreThe Cultural Heritage Of Albania1718 Words   |  7 PagesCommittee’s Fifteenth Session, they ruled on the Durrà «s Amphitheatre and stated, â€Å"While recognizing the importance of this property as part of the cultural heritage of Albania...it did not meet the criteria for inscription on the World Heritage List as defined for the purposes of the application of the Convention† (Convention Concerning the Protection of the World Cultural and Natural Heritage Fifteenth Session, 1991:30). As of 1996, the amphitheater was placed â€Å"under consideration† by UNESCO. Currently AlbaniaRead MoreThe Tropic Of Orange By Karen Tei Yamashita1530 Words   |  7 PagesGabriel’s sushi date. I do not think there could be a clearer thesis statement on multiculturalism in this novel then when Emi spouts â€Å"cultural diversity is bullshit† (Yamashita 128). In those four words, Emi sums up her entire point of view of how she perceives multiculturalism in America. Immediately after her statement, Emi qualifies what she believes to be â€Å"cultural diversity†, citing â€Å"a white guy wearing a Nirvana t-shirt and dreads† (Yamashita 128). I found it extremely interesting that she usedRead MoreThe Rise Of Rome s Decline Of 378 Ad ( Wilkes, 1992 )1382 Words   |  6 PagesAfter Rome’s decline in 378 AD (Wilkes, 1992:265), parts of the amphitheater were restructured and used as chapels. The main sanctuary was built into the alcove, which originally housed the pulvinar (elevated imperial box) and vomitorium. Byzantine mosaics and frescos indicate that these chapels were created during the fifth century AD (Figure 4; Bowes and Mitchell, 2009:574- 575; Isufi, 2006:11; Jacques, 1995:154; Karaiskaj, 2004:13; UNESCO, 2004:35-37). A second chapel and possible third were builtRead MoreThe Development Of Cultural Tourism1447 Words   |  6 PagesNevertheless, the Association for Development of Cultural Tourism, known as Europa Nostra, nominated the Durrà «s Amphitheatre to ‘The 7 Most Endangered’ list in 2013. The importance of such a recommendation can help bring attention to the much needed renovation and preservation of this site. Europa Nostra believes having the Durrà «s amphitheater on the World Heritage List will have a big impact on the revitalization of the city. They also indicate, being placed on the list, would help put Durrà «s

Taking a Close Look at the Work of Richard Grusin Essay

ï ¿ ¼Sensationalization, Media Affective Emotion ï ¿ ¼Ã¯ ¿ ¼Ã¯ ¿ ¼ In this paper I take a close look at the work of Richard Grusin on premediation and remediation, alongside Brian Massiumi’s idea of the half-life of disaster, to argue how mediation affects current events - specifically through the story of the recent loss of Malaysian Airlines flight 370. Media has played a large part in shaping American history, since its early days in the colonies through today. Media has been used as a tool to influence public perception and opinion. Whether a British vs. an American perspective during the revolution, a distortion by yellow journalism of the 1800s, or in more recent times, and the polarized political ideologies between the republican and democratic†¦show more content†¦This trend of premediation or reporting on an event that has yet to actually take place is an idea that seems to be here to stay. Premediation is the fears of George Orwell’s novel 1985 in living color. It is today’s equivalent of having the police inside a person’s head; media can control the public’s thinking. (Grusin 4). In today’s fast paced... give it to me now society, few people take the time to really dig deeper into issues that are reported on in the news. Instead they take the reports at face value. Many of these stories have a much larger back story that is never told. Media outlets report stories from their perspective and focus on what is most important in their opinion, not necessarily what is the most important underling issue at hand. They use their often political biases, along with data mining, to give their viewers of what they want to see to gain the highest ratings possible (Grusin 4). Ratings can at times be the larger motivator of what gets reported rather than what the most dire of situations. Grusin goes so far as saying that politics, media networks and their sovereignty are now all so intertwined that they are almost inseparable (4). It is not just the media deciding what viewers get to see but also the government behind the scenes dictating limitations as well. Through this, he is arguing that governing people is achieved through the media because of