Final Project of Fin619

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RATIO ANALYSIS OFASKARI BANK, UNITED BANK AND BANK ALFALAH FOR THE YEARS 2009, 2010, 2011 A PROPOSAL FOR REPORT TO BE SUBMITTED TO THE DEPARTMENT OF MANAGEMENT SCIENCES, VIRTUAL UNIVERSITY OF PAKISTAN IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER IN BUSINESS ADMINISTRATION (MBA-Exec) Submitted By: AAMIR SHAHZAD MC100403644 MBA-Exec (Finance) SUBMISSION DATE: 02-02-2013 Virtual University of Pakistan Letter of Undert aking Job confirmation letter [pic] Dedication I would like to dedicate this project to My parents My Wife & My Kids Ashar Ali & Mubashar Ali AcknowledgementAll my efforts for my MBA and this Project would have been nothing with out the help and grace of Almighty Allah and I am always Gratified to Blessings of Allah. More than anybody else, I would like to acknowledge my uncle Mr. Ashfaq Ali Tabassam for his never ending support. He always guided me whenever I felt stuck off and his encouragement always worked as moral booster for me. I would like to extend my special thanks to my friend Mr. Aamir who advised me time to time and provided me technical assistance. I am highly indebted to my boss in my organization Mr.Muzaffar Ali who spared me and gave me ample time, out of my professional commitments, to go all out for my MBA from Virtual University of Pakistan. Executive Summary The purpose of this report titled â€Å"RATIO ANALYSIS OF ASKARI BANK, UNITED BANK AND BANK ALFALAH FOR THE YEARS 2009, 2010, 2011†is to investigate the financial performance of these banks during the mentioned period. The first chapter of this report deals with introduction of project and banks under study, financial period under consideration, objectives and significance of the project. The second part is about data processing and analysis.The fourth chapter is about calculation of different ratios its comparison and interpretation. In last chapter conclusions and recommendations have been given. The data for the study is collected from financial repots of the banks which are available on theirs respective websites. The financial reports included the balance sheet, income statement and cash flow statements. As regards to finding of study, the Net Profit Margin ratio of Askari and bank Alfalah is low as compare to UBL. UBL is also on top in gross spread ratio, return on equity, debt ratio and Advance/Deposit ratio.While Askari Bank has better cash flow ratio and Price/Earning r atio. It is recommended for Bank Alfalah and Askari bank to cut down their non markup expenses to improve their Net Profit Margin Ratio while, on the other hand their turnover is satisfactory. UBL and Alfalah should decrease their current liabilities and ensure the availability of more liquidity to meet short term debts. Askari bank and bank Alfalah both banks need to adopt measures to cut down their interest expenses in order to increase their gross spread ratio.In order to increase non interest income Askari and Alfalah needs to increase their earnings through fees, commissions and other advisory charges etc. In Advance/Deposit ratio Askari bank and Alfalah should have to utilize their deposits in more projects either through corporate financing or general public financing. Table of Contents Section I Chapter 1†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 â⠂¬ ¢ 1. 1 Introduction of the project †¢ 1. 2 Banks Introduction †¢ 1. 4 Period Under Consideration †¢ 1. 5 Objectives †¢ 1. 6 Significance Chapter 2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦11 †¢ 2. 1 Data Collection 2. 2 Data Processing and Analysis Chapter 3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12 †¢ 3. 1 Net Profit Margin †¢ 3. 2 Operating cash flow ratio †¢ 3. 3 Gross Spread ratio †¢ 3. 4 Non-interest income to total income ratio †¢ 3. 5 Spread ratio †¢ 3. 6 Advances/deposit ratio †¢ 3. 7 Return on total equity (ROE) †¢ 3. 8 Debt ratio †¢ 3. 9 Debt/Equity ratio †¢ 3. 10 Price/Earning ratio Chapter 4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 26 †¢ 4. 1 Conclusions †¢ 4. 2 Recommendations Section I †¢ a) Student Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦29 †¢ b) Bibliography †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦30 Section IChapter 1 1. Project Introduction The financial ratio analysis techniques referred to in this aid could be useful to analyze any company financial performance. This study is also going to investigate the financial performance of three mentioned banks e. g. Askari bank, united bank and Bank Alfalah. These banks are surveying in the Pakistani Market and are competitors each other. Hence this study is going to find out which bank has strong financial position over other two banks. With the h elp of financial ratio analysis we can analyze the financial position of any company.Many stakeholders, investors, creditors may analyze any company, firms financial position with the help of ratio analysis before taking any important decision regarding to investments or any other. Therefore financial ratio is a mathematical correlation among several numbers often stated in the form of percentage, times, or days. 1. 2 Banks Introduction Askari Bank was incorporated in Pakistan on October 9, 1991, as a public limited company. It commenced operation on April 1, 1992, and is principally engaged in the business of banking, as defined in the Banking Companies Ordinance, 1962.The Bank is listed on Karachi, Lahore and Islamabad Stock Exchanges. Since inception, the bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network which includes Islamic and Agricultural banking. United Bank Limited (UBL) was incorp orated in Pakistan on November 7th 1959. In 1963 the bank opened its first overseas branch in London, United Kingdom. In 1971 the UBL was nationalized by the Government. In 2002, the Government of Pakistan sold it in an open auction to a consortium of Abu Dhabi Group and Bestway.Currently UBL is one of the largest commercial banks in Pakistan having more than 1,220 online branches inside the country. Its 15 branches outside the country are in the United States of America, Qatar, UAE, Bahrain, and Republic of Yemen. It also has representative offices in Tehran (Iran), and Almaty (Kazakhstan). It owns subsidiaries in the UK (United National Bank Limited), and in Zurich (Switzerland). Bank Alfalah Limited was incorporated on June 21st, 1992 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from 1st Nov, 1997.The Bank is currently operating through various branches in Pakistan, Bahrain, Bangladesh & Afghanistan, with the registered office a t B. A. Building, I. I. Chundrigar, Karachi. Strengthened with the banking of the Abu Dhabi Group and driven by the strategic goals set out by its board of management, the Bank has invested in revolutionary technology to have an extensive range of products and services. During the past five years, Bank Alfalah has emerged as one of the foremost financial institution in the region endeavoring to meet the needs of tomorrow today. 3. Financial Period Under-Consideration for Analysis:Financial period under consideration for analysis (2009, 2010, 2011) 4. Objectives 1. To analyze the selected banks efficiency in managing their resource for generating profit 2. To composition of capital structure of the selected banks, how much of the bank’s assets are financed through external and internal debt. 3. To find out that how effectively selected banks are maximizing their profit by controlling their interest expenses. 4. To compare the selected banks interest income with their interest expenses. 5. Are banks able to pay the current liabilities from their cash equivalents? . Significance The significance of these projects may include the following 1. The finding of this research will be more beneficial for investors, creditors, to take good decision after seeing the result of ratio. They can easily analyze the bank position through this study result. Bank Management may also study the finding of this study to determine the success or failure of particular sales, marketing as well as financing strategies. 2. At the end of this research, we will be able to get which bank is more able to pay its current liabilities from their cash equivalents. 3.The major outcomes of this research, this study will clear the concept regarding to financial ratio analysis in banking sector by applying different ratios. 4. This research may help the stakeholders to analyze financial ratios result before taking any serious decisions. 5. Financial mangers of selected banks also take advanta ges from this study to identify their bank strengths and weakness and will improve their poor areas. Chapter 2) Data Processing & Analysis 1. Data Collection Sources Study has used three banks annual reports/balance sheet, income statements, cash flow statements for data analysis and data processing.In research only secondary would be used to access the objectives which are mentioned as above. The study has used secondary sources to access the objectives of this research. The sources of this research were three banks websites. Annual reports were collected from the websites 2. Data Processing and Analysis Tools: Data was processed, analyzed and all the entry has done on excel sheet. Hence Study has used Excel sheet for data analysis and for calculation purpose. Result has been displayed on MS world in tabulation form with interpretation. Chapter 3) Data Analysis Ratio Analysis 1 Net Profit Margin SignificanceNet profit margin ratio explicit the profitability of the institution again st the revenue. It will also define the performance of the company in its operations in the market. So, shareholders assess it carefully in order to take their economic decisions. FORMULA: Net profit margin= (Net profit/ Revenue) *100 |Banks |2009 |2010 |2011 | |UBL |9,192,687/61,107,025*100 |11,159,930/59,331,761*100 |15,499,663/70,450,475*100 | | |15. 4% |18. 81% |22. 00% | |Askari Bank |1,097,507/22,586,736*100 |943,177/27,952,162*100 |1,627,698/32,766,351*100 | | |4. 86% |3. 37% |4. 97% | |Bank Alfalah |897035/35561312 *100= |968452/37530256*100= |3503130/44298178*100= | | |2. 2% |2. 58% |7. 91% | |Banks |2009 |2010 |2011 | |UBL |15. 04 |18. 81 |22. 00 | |Askari Bank |4. 86 |3. 37 |4. 97 | |Bank Alfalah |2. 2 |2. 58 |7. 91 | [pic] Interpretation and comparison The analysis of above table and graph depicts that the Net Profit Margin of all the Three banks is increasing. UBL is on the top with 15. 04% earning in the period of 2009 and increasing in the respective years with 18. 81 % in the year 2010 and 22% in 2011 which shows a positive trend which is due to the stringent control on operating expenses . While on the side, Askari bank Profit margin shows minor fluctuation with 4. 6% in the period 2009 then decreases in 2010 to 3. 37% owing to increase in non markup expenses and increases to 4. 49% in the year 2011. Profit margin of Bank Alfalah is also showing positive ness which is 2. 52% in 2009 and 2. 58% in the year 2010 and sore up to 7. 91% in 2011. 2 Operating Cash Flow Ratio Significance The ratio explains the cash flows of the bank or company which it earns by its operations and analyze it against it current liabilities to determine how well a company is in paying its debts which fall due in the financial year.FORMULA: Operation Cash Flow Ratio= Net cash generated from operating activities/ Current Liabilities |Banks |2009 |2010 |2011 | |UBL |23,099,432/262214540= |100,070,348/369628811= |108,571,682/407621100= | | |0. 09 times |0. 27 times |0. 7 tim es | |Askari Bank |36,245,071/49327164= |35,810,016/114583064= |36,491,839/14943963= | | |0. 73 Times |0. 31 times |2. 44 times | |Bank Alfalah |19945927/350833577= |18112043/184831395= |54274913/194917015= | | |0. 06 times |0. 0 time |0. 28 time | |Banks |2009 |2010 |2011 | |UBL |0. 09 |0. 27 |0. 27 | |Askari Bank |0. 73 |0. 31 |2. 44 | |Bank Alfalah |0. 06 |0. 0 |0. 28 | [pic] Working Current Liabilities of UBL 2009 2010 2011 †¢ Bills payable (Short term) 5,147,259 5,045,815 5,879,043 †¢ Borrowings (Short term) 35,018,765 44,187,313 45,534,286 †¢ Deposits and other accounts (Short term) 209,685,205 319,797,360 340,999,875 †¢ Liabilities against assets subject to finance Lease (Short term). – – – †¢ Other liabilities (Short term) 12,363,311 369,628,811 407,621,100 †¢ Total 262,214,540 369628811 407,621,100 Working Current Liabilities of Askari Bank 009 2010 2011 †¢ Bills payable (Short term) 2,945,6703,089,9842,756,032 †¢ Borrowings (Short term) 19,300,16325,554,7772,758,043 †¢ Deposits and other accounts (Short term) 22,247,84228,646,7715,516,086 †¢ Liabilities against assets subject to finance ease (Short term). – – – †¢ Other liabilities (Short term) 4,833,48957,291,5323,913,802 †¢ Total 49,327,16411458306414,943,963 Working Current Liabilities of Bank Alfalah 2009 2010 2011 Bills payable (Short term) 3,766,144 4,521,533 5,403,453 †¢ Borrowings (Short term) 20,107,541 13,050,006 17,060,524 †¢ Deposits and other accounts (Short term) 320,249,261 161,368,880 165,257,870 †¢ Liabilities against assets subject to finance lease (Short term). 4,429 3,031 – †¢ Other liabilities (Short term) 6,706,202 5,887,945 7,195,168 †¢ Total 350,833,577184,831,395194,917,015Interpretation and comparison The analysis of the above table and graph show that Operating Cash Flow of UBL is 0. 09 times in the period 2009 and 0. 27 times in the perio ds 2010 and 2011 shows consistency in respective years. While the cash flow of Askari bank is 0. 73 times in 2009 and decreases to 0. 31 times due to decline in cash generated from operating activities and increases to 2. 44 times in the year 2011 due to the decline in short term liabilities and increase in cash generation. Cash flow of Bank Alfalah is 0. 6times in the year 2009 and 0. 10 times in 2010 and 0. 28 times in the period 2011 shows increasing trend. 3 Gross Spread Ratio Significance It is being calculated by dividing the difference of interest earned and expensed by interest expensed on the deposits of the public. It will help to measure the markup income of the bank in the reporting period. FORMULA: Gross Spread Ratio = (Mark-up / return / interest earned – Mark-up / return / interest expensed) / Mark-up / return / interest earned*100 Banks |2009 |2010 |2011 | |UBL |61,107,025- 28,163,787= |59,331,761- 24,997,188= |70,450,475 -31,025,869= | | |32,943,238/61,107,02 5= |34,334,573/59,331,761= |39,424,606/70,450,475= | | |53. 1% |57. 87% |55. 96% | |Askari Bank |22,586,736 – 13,554,078 = |27,952,162 – 17,936,616= |32,766,351- 22,699,583= | | |9,032,658/22,586,736 = |10,015,546/27,952,162= |10,066,768/32,766,351 = 30. 72 % | | |39. 99% |35. 3 % | | |Bank Alfalah |35561312 – 24654180 =10907132/35561312 =|37530256 – 23855448= |44298178 –25687485= | | |30. 67% |13674808/37530256 = |18610693/44298178 = | | | |36. 44% |42. 01% |Banks |2009 |2010 |2011 | |UBL |53. 91 |57. 87 |55. 96 | |Askari Bank |39. 99 |35. 83 |30. 72 | |Bank Alfalah |30. 67 |36. 44 |42. 1 | [pic] Interpretation and comparison The analysis of the above table and graphical representation shows the Gross Spread Ratio of UBL 53. 91% in the period 2009 and increases to 57. 87% in the period 2010 and then decreases to 55. 96% in 2011 respectively, UBL is on the top in interest earning in the market. Askari bank ratio is 39. 99% in the period 2009, 35. 8 3% and 30. 72% in the periods 2010 and 2011. While Bank Alfalah ratio is increasing from 2009 to 2011 with 30. 67%, 36. 44% and 42. 01% which is better marginally then other banks.But UBL is earning more as compare to other two banks due to better policy making and service. 4 Non-Interest Income to Total Income Ratio Significance It is other income which a bank earn from its services related to non markup sources such as advisory services and consultation provided in risk management etc. It describes the percentage of non interest income to total income of the bank or company. FORMULA: Non Mark-up / interest income to total income ratio= non mark-up / interest income / (non mark-up / interest income +Mark-up / return / interest earned)*100 Banks |2009 |2010 |2011 | |UBL |11,419,571/72526596= |10,090,162/69421923= |12,718,253/83168728= | | |15. 75% |14. 53% |15. 29% | |Askari Bank |2,544,415/25131151= |2,800,297/30752459= |2,902,921/35669272= | | |10. 2% |9. 11% |8. 14% | |Bank Alfal ah |5182253/40743565 = |4708161/42238417= |5367713/49665891 = | | |12. 72 % |11. 15% |10. 81% | |Banks |2009 |2010 |2011 | |UBL |15. 5 |14. 53 |15. 29 | |Askari Bank |10. 12 |9. 11 |8. 14 | |Bank Alfalah |12. 72 |11. 15 |10. 81 | [pic] Interpretation and comparison The analysis of the above table and graph shows the Non Interest income of all the three banks with the highest ratio of UBL which is 15. 75% in the period 2009 and 14. 3% in the period 2010 and in 2011 is 15. 29% in comparison with Askari bank and Bank Alfalah. Askari Bank earn 10. 12% in the period 2009 and 9. 11% and 8. 14% in 2010 and 2011 which is declining. While Bank Alfalah ratios are 12. 72%, 11. 15% and 10. 81% in the years 2009, 2010 and 2011 is declining respectively. So, UBL shows better ratio as compare to the other banks in all the three years. The Results shows that UBL shows fluctuation while the other banks ratios show declining trend. Working of Total income of UBL Total Income= (Non mark-up / interest income +Mark-up / return / interest earned)    |Total Income |   |   | |Non Mark-up/interest income |11,419,571 |10,090,162 |12,718,253 | |Mark-up/return/interest earned |61,107,025 |59,331,761 |70,450,475 | |Total Income = |72526596 |69421923 |83168728 | Working of Total income of Askari Bank    |Total Income |   |   | |Non Mark-up/interest income |2,544,415 |2,800,297 |2,902,921 | |Mark-up/return/interest earned |22,586,736 |27,952,162 |32,766,351 | |Total Income |25131151 |30752459 |35669272 |Working of Total Income of Bank Alfalah Total Income= (Non mark-up / interest income +Mark-up / return / interest earned) |   |Total Income |   |   | |Non Mark-up/interest income |5182253 |4708161 |5367713 |Mark-up/return/interest earned |35561312 |37530256 |44298178 | |Total Income |40743565 |42238417 |49665891 | Interpretation and comparison Interpretation is missing. 5 Spread Ratio Significance It is the ratio that describes the markup spread between income and expens e. It helps to measure how much income bank earns by incurring markup cost.Higher ratio shows more profitability through loans and investments. Formula:- Spread Ratio = Interest Earned / Interest Expensed |Banks |2009 |2010 |2011 | |UBL |61,107,025/28,163,787= |59,331,761/24,997,188= |70,450,475/31,025,869= | | |2. 17 times |2. 37 times |2. 7 times | |Askari Bank |22,586,736/13,554,078= |27,952,162/17,936,616= |32,766,351/22,699,583= | | |1. 68 times |1. 56 times |1. 44 times | |Bank Alfalah |35561312/24654180 = |37530256/23855448= |44298178/25687485= | | |1. 44 times |1. 7 times |1. 72 times | |Banks |2009 |2010 |2011 | |UBL |2. 17 |2. 37 |2. 27 | |Askari Bank |1. 67 |1. 56 |1. 44 | |Bank Alfalah |1. 44 |1. 7 |1. 72 | [pic] Interpretation and comparison The analysis of the above table and graph shows the Spread Ratio of the UBL which is highest as compare to the other two banks, is at 2. 17 times in the year 2009 and increases to 2. 37 times in the year 2010 and 2. 27 times in the year 2011, decreases the zig zag trend is due to the fluctuation in both aspects interest earn and expensed. While the ratio of Askari bank 1. 67% in the year 2009, 1. 56% in the year 2010 and 1. 4% in the year 2011 respectively. Bank Alfalah ratio shows increasing trend throughout the three years 2009 to 2011 which are as 1. 44%, 1. 57%, 1. 72% which shows better recovery of interest income from its investments 6 Advances / Deposits Ratio Significance It defines the advances banks make from the available deposits. It measures the ability of the bank in fruitful usage of money of the depositors which will increase the markup income. FORMULA: Advances / Deposits Ratio= Total Advances/ Total Deposits Banks |2009 |2010 |2011 | |UBL |354,091,713/492,036,103= |333,732,172/550,645,767= |325,347,208/612,980,139= | | |0. 72 times |0. 61 times |0. 53 times | |Askari Bank |135,034,499/205,970,227= |152,784,137/255,936,503= |150,710,709/291,502,993= | | |0. 6 times |0. 60 times |0. 52 times | |Bank Alfalah |188042438/324759752= |207152546/354015311= |198468512/401247886= | | |0. 58 times |0. 59 times |0. 49 times | |Banks |2009 |2010 |2011 | |UBL |0. 2 |0. 61 |0. 53 | |Askari Bank |0. 66 |0. 60 |0. 52 | |Bank Alfalah |0. 58 |0. 59 |0. 49 | [pic] Interpretation and comparison The analysis of the above table and graph shows Advance/Deposit ratio of UBL which is very high as compare to other banks 0. 2 times in the year 2009 and 0. 61 times in the year 2010 and 0. 53 in the year 2011. Askari bank ratio is 0. 66 times, 0. 60 times and 0. 52 times in the consecutive years 2009, 2010 and 2011. While the ratio of bank Alfalah is 0. 58 times in 2009 and increases to 0. 59 times 2010 and decline drastically to 0. 49 times in 2011with 0. 10 times which shows that Bank Alfalah is not utilizing its deposits effectively as compare to other banks. 7 Return on Total Equity (ROE) Significance It measures income bank earns from the equity.It determines the ability of the institution how productively it uses the money of shareholders in its business. High ratio will allure more investors. FORMULA: Return on total Equity=Net Income/ Total equity*100 |Banks |2009 |2010 |2011 | |UBL |9,192,687/52276246*100= |11,159,930/60180924*100= |15,499,663/70,622,933*100= | | |17. 58 % |18. 4 % |21. 94% | |Askari Bank |1097507/ 13142688 |943177/ 14820578*100= |1627698/ 16508782*100= | | |*100= 8. 35 % |6. 36 % |9. 86 % | |Bank Alfalah |897035/ 19770260 *100= |968452/ 19726556*100= |3503130/ 22839886*100= | | |4. 4 % |4. 91 % |15. 34 % | |Banks |2009 |2010 |2011 | |UBL |17. 58 |18. 54 |25. 76 | |Askari Bank |8. 35 |6. 36 |9. 86 | |Bank Alfalah |4. 4 |4. 91 |15. 34 | [pic] Working of Total Equity UBL (UBL) |   |Working Total equity |   |   | |   |Total Equity |   |   | |   |2009 |2010 |2011 |Share capital |11,128,907 |12,241,798 |12,241,798 | |Reserves |18,959,537 |21,688,637 | | |Un appropriated profit |22,187,802 |26,250,489 | | |Total Equity |52276246 |60180924 | | |   |   |   |   | Working of Total Equity (Askari bank)    |2009 |2010 |2011 | |Share capital |5,073,467 |6,427,440 |7,070,184 | |Reserves |7,235,710 |7,691,319 |8,136,440 | |Un appropriated profit |833,511 |701,819 |1,302,158 | |Total Equity |13,142,688 |14,820,578 |16,508,782 | Working of Total Equity (Bank Alfalah)    |2009 |2010 |2011 | |Share capital |13491563 |13491563 |13491563 | |Reserves |3587969 |3819133 |4100264 | |Un appropriated profit |2690728 |2415860 |5248059 | |Total Equity |19770260 |19726556 |22839886 | Interpretation and comparison The analysis of the above table and graph show the Return On equity of all the three banks. UBL ratio is 17. 58% in the year 2009, 18. 54% in the year 2010 and 25. 76% in the year 2011. While Askari bank ratio is 8. 35% in 2009, 6. 36% in the period 2010 and 9. 86% in 2011 respectively. Bank Alfalah ratios are 4. 54%, 4. 91% and 15. 34% in the periods 2009, 2010 and 2011.So on marginal basis Alfalah improves utilizat ion of equity then other two banks. But on the whole, UBL is on the top in optimum utilization of stakeholders equity. 8 Debt Ratio Significance It measures the liabilities of the bank or company against the total assets. It should be low as investors like low ratio because the need their residual interest to be secured. FORMULA: Debt ratio= (Total debt/ Total assets)*100 |Banks |2009 |2010 |2011 | |UBL |558,779,710/619,718,433*100= |631,402,822/699,817,887*100= |698,906,833/778,059,741*100= | | |90. 7% |90. 22 % |89. 83 % | |Askari Bank |239,378,374/254,327,446*100= |298,740,410/314,744,552*100= |325,980,040/343,756,306*100= | | |94. 12 % |94. 92% |94. 83% | |Bank Alfalah |366936635/389070055*100= |389178295/411483839*100= |442396764/468173802*100= | | |94. 31% |94. 58 % |94. 49 % | Banks |2009 |2010 |2011 | |UBL |90. 17 |90. 22 |89. 83 | |Askari Bank |94. 12 |94. 92 |94. 83 | |Bank Alfalah |94. 31 |94. 58 |94. 49 | [pic] Interpretation and comparison The analysis of the above ta ble and graph show the Debt Ratio, UBL ratio is 90. 17 in the year 2009, 81. 15% in the year 2010 and 99. 7% in the year 2011. Askari bank ratio is 94. 12% in 2009, 94. 12% in 2010 and 94. 83% in 2011 which show consistency in the three years. Bank Alfalah shows also consistent trend in 2009, 2010 and 2011 are 94. 31%, 94. 58% and 94. 49%. So results show that UBL ratio is increasing which is not good indication as compare to other banks, while other banks are controlling effectively their Debt ratio. 9 Debt / Equity Ratio Significance It is the percentage of liabilities to shareholders’ money. It will define either the bank is equity or liability based. It also helps to assess the how risky the company is. FORMULA: Debt / Equity Ratio = (total debt/ total equity) Banks |2009 |2010 |2011 | |UBL |558,779,710/52276246= |631,402,822/60180924= |698,906,833/70,622,933= | | |10. 69 times |10. 49 times |9. 90 times | |Askari Bank |239,378,374/13142688= |298,740,410/14820578= |325, 980,040/16508782= | | |18. 21 times |20. 16 times |19. 75 times | |Bank Alfalah |366936635/19770260 = 18. 56 times |389178295/19726556= 19. 73 times |442396764/22839886= 19. 37 times | Banks |2009 |2010 |2011 | |UBL |10. 69 |10. 49 |11. 61 | |Askari Bank |18. 21 |20. 16 |19. 75 | |Bank Alfalah |18. 56 |19. 73 |19. 37 | [pic] Interpretation and comparison The analysis of the above table and graph shows the Debt/Equity ratio where UBL ratio is 10. 69% in 2009,10. 49% in the year 2010 and 11. 1% in the year 2011 respectively which remains consistent in first two years then increases in 2011. Askari bank ratio is 18. 21% in 2009 which too high as compare to UBL, 20. 16% in 2010 and 19. 75% in the year 2011. While Bank Alfalah is on the same level 18. 56% in 2009, 19. 73% and 19. 37% in the years 2010 and 2011. As as consequence of analysis, UBL ratio is much better then other banks as its ratio is approximately 8% below the other banks ratio. 10 Price/Earnings Ratio Significance It will define the price of share against the per share earning. It should be high as it shows business prosperity and growth chances are bright in future. FORMULA: P/E = Current Market Share Price/ EPS Working of EPS EPS WORKING UBL 2009 |2010 |2011 | |Net Income= 9,192,687 |Net Income= 11,159,930 |Net Income= 15,499,663 | |Number of shares= 1,112,890 |Number of shares= 1,224,179 |Number of shares= 1,224,179 | |= Net income/ outstanding number of shares |= Net income/ outstanding number of shares | | |=9,192,687 / 1,112,890 |= 11,159,930/1,224,179 |= Net income/ outstanding number of shares | |= 8. 26 per share |= 9. 12 per share |= 15,499,663/1,224,179 | | | |= 12. 66 per share |No of outstanding share figure has been taken from the notes i. e Share capital EPS WORKING ASKARI BANK |2009 |2010 |2011 | |Net Income= 1,097,507 |Net Income=943,177 |Net Income= 1,627,698 | | |Number of shares= 642,743 |Number of shares= 707,018 | |Number of shares= 507,346 |= Net income/ outstanding numbe r of shares | | |= 943,177/642,743 |= Net income/ outstanding number of shares | |= Net income/ outstanding number of shares |= 1. 47 per share |= 1,627,698/707,018 | |= 1,097,507/507,346 | | | | | |= 2. 30 per share | |= 2. 16 per share | | | BANK Alfalah 2009 |2010 |2011 | |Net Income= 897,035 |Net Income= 968,452 |Net Income= 3,503,130 | |Number of shares= 134,9156 |Number of shares= 134,9156 |Number of shares= 134,9156 | |= Net income/ outstanding number of shares |= Net income/ outstanding number of shares |= Net income/ outstanding number of shares | |= 897,035/ 134,9156 |= 968,452/ 134,9156 |= 3,503,130/ 134,9156 | |= 0. 66 per share |= 0. 71 per share |= 2. 59 per share | |0. 66 |0. 71 |2. 59 | Banks |2009 |2010 |2011 | |UBL |64. 25/8. 26= 7. 77 times |84. 23/9. 12= 9. 23 times | 84. 17/12. 66= 6. 64 times | |Askari Bank |45. 25/2. 16 = 20. 92 times |64. 75/1. 47 = 44. 12 times |73. 49/2. 30 = 31. 92 times | |Bank Alfalah |77. 45/0. 66 = 116. 48 times |114. 23/0. 72= 159. 13 times |16. 87/2. 60= 6. 69 times | |Banks |2009 |2010 |2011 | |UBL |7. 77 |9. 3 |6. 64 | |Askari Bank |20. 92 |44. 12 |31. 92 | |Bank Alfalah |116. 48 |159. 13 |6. 69 | [pic] Interpretation and comparison The analysis of the above table and graph shows the Price Earning ratios, UBL ratio is 7. 77 times in the year 2009, 9. 23 times in 2010 and 6. 64 times in the year 2011is respectively declining. While Askari bank ratio 20. 92 times in 2009, 44. 12 times in 2010 and increases to 31. 2, on the other hand you can see the P/E of bank Alfalah in year 2009,2010, 2011 is 116. 48 in year 2009, 159. 13 year 2010 and 6. 69 in year 2011. After the result it has proved that Bank Alfalah P/E is higher and better in year 2009 and year 2010 than other two banks. Askari bank and UBL shows declining trend which is unfavorable for the investors. Chapter 4) Conclusion and Recommendations 4. 1) Conclusion Following findings has been inferred on the basis of above ratio analyses which are as 1 . Net profit margin ratio of UBL is high as compare to Askari and Alfalah. In addition to that, Bank Alfalah captures the second level in the comparison.So, UBL has taken over the major share of profit margin 2. Analysis of Operating Cash Flow ratio shows Askari bank ratio is high as compare to UBL and Alfalah. 3. On the basis of ratio analysis UBL gross spread ratio is good and high as compare to Askari and bank Alfalah in the current year. While Bank Alfalah is ranked second in the comparison. 4. In accordance with the analysis of non-interest income to total income ratio UBL ratio is high as compare to the other two banks. While analysis show Askari bank ratio is lowest than UBL and bank Alfalah. 5. The analysis has shown UBL spread ratio is high and much better than other banks in comparison. 6.On the basis of advance/Deposit ratio analysis UBL ratio is high as compare to Askari and Alfalah in the current year. 7. The analysis of Return on equity ratio shows that UBL return is h igh and better than the other two banks. 8. Debt ratio Analysis shows that UBL ratio is high than other two banks. While Askari and Alfalah are at the same level. 9. According to the analysis of Debt/Equity ratio Askari bank ratio is high and bank Alfalah is on the second position. 10. The Price/Earning ratio of Askari bank is high in the analysis of the three banks. While UBL is on the second and bank Alfalah is on the third rank. 4. 2) Recommendations 1. The Net profit Margin ratio of Askari and bank Alfalah is low.In order to improve their net profit both the banks should have to cut down their non markup expenses while, on the other hand their turnover is satisfactory. 2. The Operating cash flow of UBL and Alfalah should have to be improved. These banks should decrease their current liabilities and ensure the availability of more liquidity to meet short term debts. 3. Askari bank and bank Alfalah both banks need to adopt measures to cut down their interest expenses in order to i ncrease their gross spread ratio. 4. In order to increase non interest income Askari and Alfalah needs to increase their earnings through fees, commissions and other advisory charges etc. 5.In Advance/Deposit ratio Askari bank and Alfalah should have to utilize their deposits in more projects either through corporate financing or general public financing. 6. 6. Return on total equity of Askari bank is low, it should increase its net income by cut down its expenses with significant margin. 7. Debt ratio of UBL is high so it should have to avoid more borrowings and use available funds in more proper ways. 8. Spread ratio of Askari bank is low as compare to other banks it should have to increase its lending and use deposits in effective ways. SECTION II a) Introduction of the student Last Degree Obtained: – Bachelor of Commerce Current Organization Dubai City Flowers LLC, Dubai, UAECurrent Designation: – Administration Manger Experience 10+ years b) BIBLOGRAPHY Askari ban k limited Pakistan. (2009). annual-reports. Retrieved December 6, 2012, from Askari bank Limited Official website:http://www. askaribank. com. pk/Reports/Askari%20Financials%202009. pdf Askari bank limited Pakistan. (2010). annual-reports. Retrieved December 6, 2012, from Askari bank Limited Official website:http://www. askaribank. com. pk/Reports/Askari%20AR2010%20(Final%20Version). pdf Askari bank limited Pakistan. (2011). annual-reports. Retrieved December 6, 2012, from Askari bank Limited Official website: http://www. askaribank. com. k/Reports/Askari%20AR%202011%20ALL. pdf United bank limited . (2009). Financial-reports. Retrieved December 6, 2012, from United bank Limited Official website: https://www. ubldirect. com/corporate/resources/ubl/aboutus/financial_report/report_2009/annual_dec09/UBLAnnualReport2009. pdf. United bank limited . (2010). Financial-reports. Retrieved December 6, 2012, from United bank Limited Official website: https://www. ubldirect. com/corporate/resour ces/ubl/aboutus/financial_report/report_2010/annual_dec10/UBLAnnualReport2010. pdf United bank limited . (2011). Financial-reports. Retrieved December 6, 2012, from United bank Limited Official website: https://www. ubldirect. om/corporate/resources/ubl/aboutus/financial_report/report_2011/Annual_Reports/UBL%20Annual%20Report%202011. pdf Bank Alfalah Limited. (2009). Financial-reports. Retrieved December 6, 2012, from Bank Alfalah Limited Official website: http://www. bankalfalah. com/about/download/AnnualReport2009. pdf Bank Alfalah Limited. (2010). Financial-reports. Retrieved December 6, 2012, from Bank Alfalah Limited Official website: http://www. bankalfalah. com/about/download/BALAnnualReport2010. pdf Bank Alfalah Limited. (2011). Financial-reports. Retrieved December 6, 2012, from Bank Alfalah Limited Official website: http://www. bankalfalah. com/about/download/BALAnnualReport2011. pdf

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Analyse the social impact of a UK government initiative on urban learning - Essay Example Forming a sustainable society needs reformation of educational systems. What people believe and think about the world affects what they do as voters, consumers, and resource owners, as government officials, international diplomats, and employees. Sustainable urban development must take a wide view of urban issues and effort to solve urban problems by assimilating environmental, social, and economical components. For sustainable urban development, learning is one of the most significant factors. Maser (1997) defines sustainable community development as a community-directed progression of development based on: a) inspirational human values of love, trust, respect, wonder, modesty, and concern; b) active learning, which is a balance between the intelligence and instinct, between the abstract and the concrete, between action and reflection; c) sharing that caused through communication, collaboration, and coordination; d) an ability to understand and work with and within the flow of life as a fluid system, distinguishing, understanding, and excepting the implication of relationships; e) patience in seeking an understanding of an essential issue rather than applying band aid like quick fixes to problematic symptoms; f) deliberately integrating the learning space into the working space into a persistent cycle of theory, experimentation, action, and reflection; and g) a shared societal vision stranded in long-term sustainability, both culturally and environmentally. In recent years, policymakers in the United Kingdom have commended their school systems to assure that substantially all students obtain the levels of knowledge and skill in core academic subjects required to succeed in further education, work, and citizenship.

Microbiological effects from baby bottle misuse Research Paper

Microbiological effects from baby bottle misuse - Research Paper Example Moreover, the inherent immune elements in milk offer defense against infectivity. There are oligosaccharides present in the milk that avert accessory of normal respiratory micro-organisms like Streptococcus pneumoniae and Haemophilus influenzae (Gurtler, Kornacki & Beuchat, 2005). Misuse of bottle feeding is risky in the sense that the bottle formulae lack the Glycosaminoglycans which is normally present in the natural breast milk that averts attachment pathogens hence minimizing the risk of transmission. It must be noted that human milk administered through the normal breastfeeding adds up to inherent immunity. Long formula fed babies have the risk of contaminating and being infected with Giardia lamblia, H influenzae and the B streptococci, S epidermis and other micro-organisms such as the respiratory syncytial virus (RSV) (Gurtler, Kornacki & Beuchat, 2005). Misuse of baby bottle can also lead to infection of the lower respiratory tract. According to analysis of 7 group research o f healthy term babies in affluent locations, it was established that babies who were bottle-fed experienced a 3.6-fold higher risk of being hospitalized for infection of the lower respiratory tract in the initial year of their existence in comparison with babies who were wholly breastfed for a period of over 4 months. These research comprised modification for socioeconomic condition and parental smoking. Many of the infants hospitalized from respiratory infections arise from the respiratory syncytial virus. The human milk contains lipids which tend to have an antigen against RSV. Moreover, multifaceted researches also claim that bottle fed infants or formulated infants have a higher risk of contracting gastrointestinal pathogens and diarrhea. Similarly, 14 group studies meta-analysis established that infants who were bottle fed or formula fed were 2.8 times more probably to get infected with gastrointestinal pathogens compared to those who were totally breastfed (UNCF, 2003). Findin gs from PROBIT (promotion of breastfeeding intervention trial) reveal that infants who were used in the control experiment were 1.7 times more probably to get infected with gastrointestinal infection compared to those used in the intercession group. In this research 31 maternity hospitals were randomized to the Baby Friendly Hospital Initiative (BFHI) and a set of proof-found activities accommodating of breastfeeding, against the normal care. The entire 17,046 babies in the PROBIT research were breastfed, entirely at 3 months. It was found that 6.4% of the control studies were totally breastfed in comparison with the 43.3% of the intercession babies (UNCF, 2003). According to various epidemiologic researches it is suggested that infants and children who are exclusively bottle-fed on formula products are more probably to develop a condition of obese or develop type II diabetes. Furthermore, a meta-analysis study reveals that formula feeding among the infants is also related to the 1. 6 fold risk of the type 2 diabetes in comparison to the exclusively breast-fed children. Other studies have also claimed that a higher risk of diseases related to cardiac vacuoles inclusive of the high pressure of the blood and reduced favorable lipid profile also looms for children who are formula-fed even though the literature varies (Drudy, et al., 2006). Scholars have suggested that numerous interventions to describe these

The Unspoken Laws Essay Example for Free

The Unspoken Laws Essay The conceptualization of sexual, religious, and gendered borders has served to write the human standard of living and the societal roles that we have incorporated into our culture to accept as the social norm. These unspoken laws are the architecture to our socio-cultural environment. These laws represent the cement that has carefully bonded the male-female heteronormative gender role, the pre-inclined human morality given by religion, and sexual identity to be something that is easily definable by the masses. Arturo Islas in The Rain God defines Mexican culture by creating characters that exemplify and embody the stereotypes and the figurative borders of sexuality, religion, and gender. Throughout The Rain God Arturo Islas tells the story of the Angel family- a family made up of strong characters such as Miguel Grande and Mama Chona. Both Miguel Grande and Mama Chona strongly embody the female-male gender role while personifying the cultural borders that Miguel Chico encounters as he develops into an adult. Miguel Grande illustrates machismo as he is described as the traditional patriarch of the Angel Family. Mama Chona takes on the matriarch role that holds the Angel Family together all the while as she is conflicted to accept the Indigenous and Chicano identities that make her whole. Maria- the nursemaid is a symbol for the religious freedom Miguel Chico grows up searching for. She herself strays off Roman Catholicism and becomes a Seventh Day Adventist. Maria’s influences of another form of thinking impacts Miguel Chico as he furthers into interpreting the reality encircling his childhood. Arturo Islas carefully constructs the matriarch role in Hispanic culture as Mama Chona. Her character is a clear example of the generational struggle faced by Mother Chonas alike of other Mexican Families living in the Southwest Texas/ Mexico border seeking out lead their kin out of the â€Å"bad† life. Miguel Chico reminiscing over a family picture in his desk area describes, â€Å"Mama Chona is wearing a black ankle-length dress with a white lace collar and he is in a short-sleeved light colored summer suit with short pantsthe camera has captured them in flight from one world to the next.† (Islas, 3-4). This quote expatiates the generational gap faced between the Angel family and Miguel Chico. Narratively, it also serves as foreshadowing for Miguel Chico straining off the â€Å"correct† path, that is not staying and submitting to the very literal and figurative geographical borders of religion, sex, and gender found in the Southwest. Miguel Chico does this by earning his acceptance to a prestigious University, moving to San Fransisco, and becoming the free thinking individual that he is by heart. With traditional catholic point of views and a ridged sense of what sexuality is Miguel Grande refuses to accept any other form of raising his child, other than the one he’s been conditioned to accept throughout his lifetime. â€Å"‘Apologize to your father for playing with dolls,’ Juanita said to Miguel Chico. He did not understand why he needed to say he was sorry. When his father was not there, his mother permitted him to play with them.† (Islas, 16) Miguel Chico is the queer child who questions religion and the male role that is placed on him by his social environment. Arturo Islas crafts these polar identities to express the very literal border of culture and sexuality that Miguel Chico encounters and battles with as he matures into an adult. Whilst growing up nursemaid Maria attempts to instill the morals and allegories of a religious context into Miguel Chico. Although, Miguel Chico receives the religious barrage from both ends of the spectrum- the mother and the nursemaid, Miguel Chico questions the validity of the information he waveringly accepts at the time. â€Å"Miguel Chico learned that when he asked Maria a difficult question she would remain silent, then choose a biblical passage that illustrated the terrible power of God the Fathers wrath.† (Islas, 17). Moreover, Maria explores another branch of Christianity by being a Seventh Day Adventist, her influences of denying another religion impacts Miguel Chico and in the end lends to his rejection of religion over all, as he sees the influence of another interpretation of â€Å"truth†. Furthermore, as Miguel Chico walks through the journey of adulthood he becomes more aware of the social and personal constraints the borders of religion, sex, and gender present to his growth as an individual though throughout this time he accepts that he is a determinable extension of them both, Maria- the nursemaid and Mother Chona the Angel Familys Matriarch. â€Å"the way a seed continues to be part of a plant after it has assumed its own form which does not at all resemble its origin, but which nevertheless, is determined by it. He had survived severe pruning and wondered if human beings, unlike plants can water themselves.† (Islas, 25-26). Throughout the passage Miguel Chico asserts his independence from all the borders introduced by his family, the border that his persona has been forced to fit in in consequence of a socially accepted mold. Later in The Rain God it is learned that Mama Chona becomes ill. At this time Miguel Chico visits and is confronted with questions concerning his sexuality and relationship status, more significantly by his cousins. It is strange to them that he is neither married, nor in a stable relationship with a woman. Despite the suspicion behind his sexuality he verifies the value he has for knowledge. He conjures up the idea that perhaps he had survived the plucking of his personal growth to tell the stories of people similar to Maria and Mother Chona. Conclusively, Miguel Chico ascertains that he in fact does have a long way to go throughout his journey of self-discovery, along the way he pieces together the identity that makes him whole. These pieces all influenced by the characters in his life, significantly, Mother Chona and Maria. He accepts the fact he alike Mother Chona prefers to disregard facts to assume motives, although unlike Maria, Miguel Chico longed to look at persons and their motives separately from an â€Å"earthly, rather than otherworldly, point of view† (Islas, 28). Miguel Chicos future is undetermined at this point and he is okay with that reality but he now is comfortable with the concept that he does not have to live in the haziness of the garden he has been rooted to be part of. Miguel Chico can stray off the pre-determined path given to him and still be his own after appreciating the soil that nurtured him into the free thinking individual that he is. Works Cited Islas, Arturo. The Rain God: A Desert Tale. Palo Alto: Alexandrian, 1984. Print.

Levers in the Body

Levers in the Body First-class Levers Typical examples of first-class lever are the crowbar, seesaw, and elbow extension. An example of this type of lever in the body is seen with the triceps applying the force to the olecranon (F) in extending the nonsupported forearm (W) at the elbow (A). Other examples of this type of lever may be seen in the body when the agonist and the antagonist muscle groups on either side of a joint axis are contracting simultaneously with the agonist producing force while the antagonist supplies the resistance. A first-class lever is designed basically to produce balanced movements when the axis is midway between the force and the resistance. When the axis is close to the force, the lever produces speed and range of motion (triceps in elbow extension). When the axis is close to the resistance, the lever produces force motion (crowbar). In applying the principle of levers to the body it is important to remember that the force is applied where the muscle inserts in the bone and not in the belly of the muscle. For example, in elbow extension with the shoulder fully flexed and the arm beside the ear, the triceps applies the force to the olecranon of the ulna behind the axis of the elbow joint. As the applied force exceeds the amount of forearm resistance, the elbow extends. This type of lever may be changed for a given joint and muscle, depending on whether the body segment is in contact with a surface such as a floor or wall. For example, we have demonstrated the triceps in elbow extension being a first-class lever with the hand free in space where the arm is pushed upward away from the body. By placing the hand in contact with the floor, as in performing a push-up to push the body away from the floor, the same muscle action at this joint now changes the lever to second class because the axis is at the hand and the resistance is the body weight at the elbow joint. In a first class lever, the weight and force are on opposite sides of the fulcrum: A small force can be used to advantage over a heavy weight if a long force arm  or lever arm can be used. Examples of this lever include scissors, crowbars, and  teeter-totters. An example of a first-class lever is the joint between the skull and the atlas  vertebrae of the spine: the spine is the fulcrum across which muscles lift the  head. Here the fulcrum lies between the effort and the load. In our bodies, a lever of the first class can be found when the head undergoes nodding movements, i.e. when the occipital condyles articulate with the facets of the atlas. The weight of the face and the head are the resistance. The contraction of the neck muscles is the effort to lift the weight. Another example of a lever of the first class is when the bent arm is straightened . A lever of the first class serves a twofold purpose, i.e. it increases the speed of movement and it overcomes the resistance. In doing so, the resistance (load) is moved in the opposite direction. http://www.botany.uwc.ac.za/Sci_Ed/grade10/manphys/images/man/1_class.gif Lever of the first class Second Class Lever This type of lever is designed to produce force meovements, since a lage rsistance can be moved by a relatively small force. An example of a second-class lever is a wheelbarrow. Besides the example given before of the triceps extending the elbow in a push-up another similar example of a second-class lever in the body is plantar flexion of the foot to raise the body up on the toes. The ball of the foot (A) serves as the axis of rotation as the ankle plantar flexors apply force to the calcaneus (F) to lift the resistance of the body at the tibial articulation (W) with the foot. There are relatively few occurrences of second-class levers in the body. In the second class lever, the load is between the fulcrum and the force: A smaller effort can be used to advantage over a larger weight. An example of  this lever is a wheelbarrow. An example in the human body of a second-class lever is the Achilles  tendon, pushing or pulling across the heel of the foot. Here the load lies between the fulcrum and the effort. A lever of the second class operates on the same principle as a wheelbarrow. A small upward force applied to the handles can overcome a much larger force (weight) acting downwards in the barrow. Similarly a relatively small muscular effort is required to raise the body weight. In our bodies, a lever of the second class can be found in our feet when we stand on our toes and lift our heels of the ground. The resistance (load) is the weight of our body resting on the arch of the foot. The effort is brought about by the contraction of the calf muscle attached to the heel. This leverage allows us to walk. The main purpose of a lever of the second class is to overcome the resistance. http://www.botany.uwc.ac.za/Sci_Ed/grade10/manphys/images/man/2_class.gif Lever of the second class Third Class Lever With this type of lever the force being applied between the axis and the resistance, are designed  to produce speed and range of motion movements. Most of the levers in the hman body are of this  type, which require a great deal of force to move even a small resistance. Examples include a  screen door operated by a short spring and application of lifting force to a shovel handle with the  lower hand while the upper hand on the shovel handle serves as the axis of rotation. The biceps  brachii is a typical example in the body. Using the elbow joint (A) as the axis, the biceps applies  force at its insertion on the radial tuberosity (F) to rotate the forearm up, with its center of gravity  (W) serving as the point of resistance application. The brachialis is an example of true third-class leverage. It pulls on the ulna just below the elbow,  and since the ulna cannot rotate, the pull is direct and true. The biceps brachii, on the other hand,  supinates the forearm as it flexes, so that the third-class leverage applies to flexion only.  Other examples include the hamstrings contracting to flex the leg at the knee while in a standing  position and using the iliopsoas to flex the thigh at the hip.  In the third class lever, the force is between the fulcrum and the load: In this case, there is no force advantage force is NOT increased. In fact, a  larger force is actually needed to move a smaller weight, so there is a force  disadvantage. The use of this lever is in the gain in speed of movement of the  weight. Examples of this lever class include: The inside door handle of a car, the coiled  spring pulling on a screen door, a pair of finger-nail clippers, and tweezers.   An example of a third-class lever in the human body is the elbow joint: when  lifting a book, the elbow joint is the fulcrum across which the biceps muscle  performs the work. Here the effort lies between the fulcrum and the load. In our bodies, an example of a lever of the third class is when the biceps contracts, allowing us to lift something in our hand. The elbow is the fulcrum, the hand and its contents are the resistance (or load) and the biceps muscles creates the effort. The load can be moved rapidly over a large distance, while the point of application moves over a relatively short distance. The main purpose of this type of lever is to obtain rapid movement. http://www.botany.uwc.ac.za/Sci_Ed/grade10/manphys/images/man/3_class.gif Lever of the third class More Information About Levers A Brief Review F A lever is characterized by a fulcrum, a force arm and a weight  arm. F The force arm is the distance from the fulcrum to the point where  force is applied. F The weight arm is the distance from the fulcrum to the center of  gravity of the weight. à ´Ã¢â€š ¬Ã¢â‚¬Å¡Ã†â€™ First Class Lever: The fulcrum is between the force and  the weight. à ´Ã¢â€š ¬Ã¢â‚¬Å¡Ã†â€™ Second Class Lever: The weight is between the fulcrum  and the force. à ´Ã¢â€š ¬Ã¢â‚¬Å¡Ã†â€™ Third Class Lever: The force is located between the  fulcrum and the weight. F Most of the movements of the body are produced by third class  levers. F Third class levers give the advantage of speed of movement rather  than strength. F Second class levers give the advantage of strength. F First Class levers can give the advantage of strength or speed  depending on where the fulcrum is located. F Since the human body is made up mostly of third-class levers, its  movements are adapted more to speed than to strength. (Short  force arm/long weight arm) http://www.botany.uwc.ac.za/Sci_Ed/grade10/manphys/skel_mus.htm Relationship of the length of lever arms The resistance arm is the distance between the axis and the point of resistance application. The distance between the axis and the point of force application is known as the force arm. There is an inverse relationship between force and the force arm just as there is between  resistance and the resistance arm. The longer the force arm, the less force required to move the  lever if the resistance and resistance arm remain constant. In addition, if the force and force arm  remain constant, a greater resistance may be moved by shortening the resistance arm. There is also a proportional relationship between the force components and the resistance  components. For movement to occur when either of the resistance components increase, there  must be an increase in one or both of the force components. Even slight variations in the location  of the force and resistance are important in determining the effective force of the muscle. Decreasing the amount of resistance can decrease the amount of force needed to move the lever. The system of leverage in the human body is built for speed and range of movement at the  expense of force. Short force arms and long resistance arms require great muscular strength to  produce movement. In the forearm, the attachments of the biceps and triceps muscles clearly  illustrate this point, since the force arm of the biceps is 1 to 2 inches and that of the triceps less  than one inch. Many other similar examples are found all over the body. From a practical point of  view, this means that the muscular system should be strong to supply the necessary force for  body movements, especially in strenuous activity. Most human activity, and especially strenuous activity, involves several levers working together. As with throwing a ball, levers in the shoulder, elbow, wrist, hand, and lower extremities  combine to propel the ball. It almost assumes the effect of one long lever from hands to feet. The  longer the lever, the more effective it is in imparting velocity. Forces in the Body Athletes display some of the wonderful shows of force that the human body is capable of performing. Such force is only possible through the arrangement of the muscles, bones and joints that make up the bodys lever systems. Bones act as the levers, while joints perform as living fulcrums. Skeletal muscles create motion by pulling on tough cords of connective tissue called tendons. These tendons in turn pull on the bone which creates motion. Muscles move bones through mechanical leverage. As a muscle contracts, it causes the bone to act like a lever with the joint serving as a fulcrum. Muscle exerts force by converting chemical energy (created during respiration) into tension and contraction. When a muscle contracts, it shortens, pulling a bone like a lever across its hinge. Muscles move and this causes us to move. We are capable of performing a wide variety of movements, but, muscle itself moves only by becoming shorter. They shorten and then they rest a muscle can pull but it cannot push. There are almost 700 skeletal muscles of the human body, controlled by a few basic principles involving muscle movements or muscular activity. F Skeletal muscles produce movements by pulling on bones or tendons. The tendon gives a very firm anchorage. The point where a muscle is connected to a bone is called the point of insertion. F The bones serve as levers and joints act as fulcrums for the levers. Muscles can only contract a short distance, but since they are attached near a joint, the movement at the opposite end of a limb is greatly increased. The biceps muscle of the arm may contract only 89 to 90 mm, but the hand will move about 60 cm. F The skeletal or voluntary muscles act in pairs rather than singly. One of the muscles produces contraction while the other allows relaxation. Flexion (bending) occurs when contraction causes two bones to bend toward one another, while extension (straightening out) occurs from contraction of muscles, resulting in an increase in angle between two bones. Such pairs of muscles are called antagonistic. Often antagonistic muscles are in groups, for example, both the brachialis and the biceps muscles flex the arm at the elbow and antagonize the triceps, but only when the palm is facing upwards. In pairs or groups of antagonistic muscle, one is usually much stronger than the other. The biceps, which flex the arm are larger and more powerful than the triceps which extends it. F When the body is at rest, the some of the antagonistic skeletal muscles remain in a state of contraction, called muscle tone, which holds the body in rigid position. If the person becomes unconscious, or is asleep, muscle tone is lost as the muscles relax completely. Questions: 1. A first class lever has the ____________ in the middle. 2. Give an example of a first class lever: ____________________________ 3. Draw a diagram of a first class lever: 4. A second class lever has the ______________ in the middle. 5. Give an example of a second class lever:_________________________________ 6. Draw a diagram of a second class lever: Bones as Levers 8 M. Poarch 2002 http://science-class.net 7. A third class lever has the _______________ in the middle. 8. Give an example of a third class lever: ____________________________ 9. Draw a diagram of a third class lever: 10. For EACH of the three classes of levers, explain the advantage gained by using this type of lever. ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 11. What type of lever do we find most often in the human body? ___________________________________________________________ 12. Explain how a muscle exerts force: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ Bones as Levers 9 M. Poarch 2002 http://science-class.net 13. Examine the following diagrams, write down next to each picture which class of lever the picture represents and explain why: Lever in the body: Type of lever and why: Bones as Levers 10 M. Poarch 2002 http://science-class.net 14. Describe each of the following: a. Advantage (mechanical advantage) b. Antagonistic c. Effort d. Extension e. Flexion f. Force g. Force arm h. Fulcrum i. Insertion j. Joint k. Levers l. Limbs m. Load n. Muscle tone o. Resistance p. Tendon q. Weight arm 15. Circle and label each one example of each class of lever on the skeleton. Label the fulcrum, effort and load for each class of lever. GLOSSARY CENTER OF GRAVITY: The point in any solid where a single applied force could support it; the point where the mass of the object is equally balanced. The center of gravity is also called the center of mass. (When a man on a ladder leans sideways so far that his center of gravity is no longer over his feet, he begins to fall.) GRAVITATION (GRAVITY): The force, first described mathematically by Isaac Newton, whereby any two objects in the Universe are attracted toward each other. (Gravitation holds the moon in orbit around the earth, the planets in orbit around the sun, and the sun in the Milky Way. It also accounts for the fall of objects released near the surface of the earth. Objects near the surface of the earth fall at a rate of 32 feet per second.) FREE FALL: In physics, the motion of a body being acted on only by gravity. FRICTION: The force of one surface sliding, rubbing, or rolling against another. Friction slows down the motion of objects, and can create heat. Friction can also stabilize motion. FULCRUM: The fixed point about which the lever moves. The point at which energy is transferred. INERTIA: The tendency for objects at rest to remain at rest, and objects in uniform motion to continue in motion in a straight line, unless acted on by an outside force. LEVER: A rigid rod or bar to which a force may be applied to overcome a resistance. A lever (or a combination of levers) is a simple machine used to gain force, gain speed, or change directions. LEVERAGE: To wield power with levers. Understanding where the fulcrum is located allows us to position ourselves to gain our greatest leverage. MACHINE: A device (or system of devices) made of moving parts that transmits, send or changes a force. Machines are often modeled on how the human body works. SCIENCE: An organized body of information or HOW THINGS WORK! SIMPLE MACHINE: Machines powered by human force (as opposed to batteries, electricity or burning fuel) LOAD In bio-mechanics, the body mass is referred to as load. If an object is picked up, the load will be that of the body plus the object been picked up. The body weight place a load on the bone and muscle structures. If no load is applied, the body will stand still (inertia). To move the body load, force needs to be applied. A lighter body load requires less applied force to be moved and a stronger body will be able to move the body load faster. The secret of success is for the body to become stronger without the body gaining weight. 2.2. FORCE (MOTIVE FORCE) Force = Mass x Acceleration. Force is the strength of the muscle push or pull required to move the body mass (load). As long as the force applied on the muscle is equal to the load of the body, the body will not move and will be in equilibrium (state of rest). The force applied by the muscles must be bigger than the body mass (load) for the body to move. Strengthening the muscles will enable the body to apply a larger force on the bones. The more force muscles apply on the bones, the faster the movement of the limbs will be. The long jump run-up clearly demonstrates how the body angle change in accordance with the force applied. The body angle will change to accommodate the force applied. The key factor is how much strength training can be applied on the muscle in an attempt to develop force before an injury will occur in the form of a torn muscle or a broken bone. 2.2.1. Static force is a force that does not produce motion (The set position in the 100m start). 2.2.2. Centrifugal force is the force pulling outwards during rotation (The discus pulling in the hand during rotation). 2.2.3. Centripetal force is the force pulling inwards during rotation. (The force pulling in the shoulder while delivering a discus). 2.2.4. Eccentric force is an off-centre force. The centre of gravity in the human body is more or less situated at the navel. Delivering a shot needs an eccentric force to deliver the shot, as the shot is held next to the shoulder while delivering the shot. Eccentric force requires more muscle strength than force executed in line with the centre of gravity. In the sketch it can be seen that the shot is not in line (above) with the centre of gravity. The key-factor is to reduce movement away from the centre of gravity by either bringing the source that requires the applied force e.g. the shot, closer to the body to avoid muscle injury. 2.2.5. Internal forces will be the force that is applied by the muscles on the bones in the limbs. 2.2.6. External forces will be the force acting outside the body such as the gravity of the earth and friction between bodies such as the feet and the ground. 2.3. INERTIA Inertia is the bodys resistance to change position (Newtons 1st law Law of inertia). If no force is applied on the body, the body will not move. 2.3.1. Moment of inertia = mass x radius squared. Moment of inertia, normally a very short period of time, is the moment the body is standing still or in a state of rest e.g. in pole vault, the trajectory of the body will follow an upwards and downwards motion. At the point where upwards motion change to downwards motion, a moment of inertia will exist. 2.4. WORK Work is force x distance in the direction of force e.g. the amount of time the push or pull of the muscles is required to move the body over a 1500m x the 1500m = work required. The key factor is to develop the capacity of the body to operate at a work rate of e.g. 110% during training. The athlete will then be able to operate at 91% (100% à · 110%) during competition to achieve success, with less injury risk to the body. If an 800m athlete wants to run 60 seconds per 400m lap in competition, the training repetitions should be at 54.6 seconds. Training at repletion times of 54.6 seconds will enable the athlete run at 91% capacity and run a time of 60 seconds in per 400m lap. Mechanical work = product of weight lifted x distance lifted 2.5. GRAVITY Gravity is a force that is always present. It is the magnetic force of the earth which pulls objects vertically downwards to the centre of the earth. 2.5.1. Centre of gravity is the point in a body where force acts through. A solid body like the shot or discus will have a fixed centre of gravity but in the human body the centre of gravity will be determined by the position of the body. 2.6. TORQUE Torque is the force causing an object to rotate x length of lever arm e.g. a longer arm requires more force to deliver a javelin than a shorter arm. Key factor If sufficient force can be exerted on a longer arm, the longer arm is likely to generate more torque e.g. a longer arm will throw a javelin further than a short arm because more torque can be applied on the javelin during the process of delivery. 2.6.1. External unbalanced torque must be applied to create angular velocity. Newtons 1st law A body will remain at rest, or motion will be in a uniform straight line, until an external force is applied to change its direction is relevant. To deliver a javelin, an upward and forward movement of the arm is required. The arm holding the javelin will have to exceed the force required to move the javelin forward as well as to overcome the downward force of gravity, before a javelin will be able to travel in a temporary upwards trajectory after delivery. 2.7. AXIS An axis is a straight line about which a body rotates. 2.7.1. Vertical axis of the body passes through body from top to bottom when standing in the upright position. 2.7.2. Sagittal (also called anteroposterior) axis of the body is an axis parallel to the ground which passes through the body from front to back. Key factor The sprinter will move from start to finish as fast as possible without changing the distance of the sagittal axis from the ground (Moving up and down). 2.7.3. Frontal axis of the body is the axis parallel to the ground passing through the body from side to side e.g. the shortest distance between 2 points is a straight line. Key factor The sprinter will move from start to finish as fast as possible without changing the distance of the frontal axis from the sagittal axis (Moving side to side). 2.7.4. Horizontal (also called transverse) axis is an axis which is parallel to the ground and can be sagittal or frontal. The sketches below show how the 3 axiss is applied in bio-mechanics: 2.8. ACCELERATION When the body is moving, the speed that it is moving, and the time it takes to move from one point to the next point defines acceleration. Acceleration is the rate of change of velocity. Acceleration of the body is in proportion with the force applied by the muscles in the body. More force will ensure greater acceleration. 2.8.1. Angular acceleration is the rate of change of angular velocity e.g the angular acceleration of a high jumper crossing the cross bar. 2.8.2. Positive acceleration means the velocity increases faster and faster e.g. a sprinter running the 1st 100m of a 400m sprint. 2.8.3. Negative acceleration is velocity decelerating (slowing down) e.g. a sprinter running the last 100m of a 400m sprint and exhaustion is resulting in a reduced muscle force. 2.8.4. An object free falling downwards accelerates at 9.8m/sec. e.g. to deliver a javelin, the force applied must be more than the body mass, the mass of the javelin and gravity force. After delivery of the javelin in an upwards direction, gravity will continuously pull the javelin back to earth at a rate of 9.8m/sec. The point of return will be when the combined force of the body the javelin and gravity are reduced to a force less than the force of gravity (9.8m/sec). The trajectory of the javelin will consist of positive acceleration (going up), a moment of inertia (changing direction) and negative acceleration (going down). Key factor The bigger the eccentric force applied during the delivery of the javelin, the longer negative acceleration will be delayed. (The javelin will travel further before returning to the ground). 2.9. SPEED Speed is the rate of change of a position. For a sprinter speed will mean the stride length x stride frequency. For a jumper speed will mean the speed during take-off. For a thrower the speed will mean the speed during delivery of the implement. 2.10. VELOCITY Once the force applied on the body (muscle contraction), is bigger than the load (body mass), the body will start moving (positive acceleration). The speed per second that the body change position in a given direction = velocity. If a sprinter covers 100m in 10 seconds the velocity of the athlete will be 100 à · 10 = 10m/s. 2.10.1. Optimal velocity is sometimes called maximum velocity 2.10.2. Angular velocity is the angle through which the body turns per second e.g. during the period of time that the jumper travels through air after take off. 2.11. MOTION Motion is the continuous change of position. As long as force is applied, motion will take place e.g. as long as the athlete is running motion takes place. 2.11.1. Linear motion is movement in a straight line from one point to another e.g. a sprinter from start to finish. 2.11.2. Rotational motion is movement around an axis of rotation e.g. the arms and legs of a sprinter is moving in circular movements while moving forward. 2.11.3. General motion is a combination of linear motion and rotational motion e.g. In the 100m, the body of the sprinter is moving forward in a straight line but the arms and legs is moving in a circular motion. In discus the thrower moves from the back of the circle to the front of the circle while the body is turning around in circles in an attempt to gain maximum speed of the discus prior to delivery. 2.11.4. Uniform motion is steady, constant motion with unchanged speed e.g a 10000m athlete will try to run economically in an attempt to maintain the pace of running (uniform motion) as long as possible. 2.12. MOMENTUM Momentum is the quantity of motion of a moving body. Momentum = mass x velocity 2.12.1. Angular momentum is the moment of inertia x angular velocity 2.13. FRICTION The level of smoothness of two surfaces making contact will determine the level of friction. The smoother the surfaces, the more likely a gliding (slip) motion will appear when force is applied at an angle. A sprinter has to accelerate as fast as possible. To do this force has to be applied through the feet onto the ground in a running action to ensure forward movement. Fast acceleration may cause the feet to slip on the ground. To avoid slipping the friction between the feet and ground is increased. This is done by wearing spikes in the running shoes to create as much friction as possible between the surfaces of the track and the running shoes. 2.14. EQUILIBRIUM Equilibrium is another word for balance. When the resultant of all forces acting on a body are zero (neutralizing each other), the body is in equilibrium. A body at rest is in equilibrium. The sprinter in the set position is in equilibrium. When you lie still on a bed, the body is in equilibrium. The force of the body pressing against the bed and the force of the bed pushing back are equal, resulting in the body lying still. (Newtons 3rd law: Law of reaction For every action there is an equal and opposite reaction). 2.15. ENERGY Energy is the capacity to do work. There are 2 types of energy: 2.15.1. Potential energy When the body is standing still (equilibrium) no energy is used, but the potential for it to move is always there. 2.15.2. Kinetic energy is created when the forces applied on the body causes the body to move. The force applied to stop the body will equal the energy used to move. The more force is applied, the faster the body will move and the more kinetic energy the body will have. Injuries occur when kinetic energy is transferred to potential energy to quickly e.g. when the body come to a standstill due to external forces such as in a car accident, or the pull on the muscle is to big for the muscle to handle and the muscle will tear. It is important that once kinetic energy is created and the result is a fast moving object, the slowing down process must be within the capacity of the muscles that causes the decelerati

Organisational Change In The Sandwich Factory Management Essay

Organisational Change In The Sandwich Factory Management Essay This report will explore the type of leadership styles are used in The Sandwich Factory. Kirsty Flower owns The Sandwich Factory which was established in 2005 by her and her colleagues that worked before hand together in similar industry. All the managers in the organisation consist of women which form the Senior Management Team. Kristys leadership styles integrate with modern leadership theories in many different ways, one theory more than the other in some cases. The modern approaches to leadership this report will look in depth are Leader-member Exchange theory, Path-goal theory and New leadership. The success or failure of The Sandwich Factory depends on Kirstys manager leadership qualities. Leadership is the activity of influencing people to strive willingly for group objectives (Kumar 2001: 190). To succeed a leader needs have a motivated team which can only be achieved by the leader taking control as well as listening to the followers issues or needs. The modern leadership theories are commonly found in todays society amongst leaders. These theories can be applied in all types of organisations from a small business to multinational cooperations. The approaches are further frequently used rather than the older theories such as The Great Man theory and Trait theories. The modern leadership theories take more into account the motivation of subordinates, how the follower feels and considers the workers important, it is them that lead to the success of the company. Introduction to the Path-goal Theory approach There are umpteen types of modern approaches to leadership, path-goal theory, leader member exchange theory and new leadership transformational/transactional leadership. Subordinates have a lot more power in the modern approaches as compared to the older leadership theories. Kirstys leadership may be seen as reflective of modern leadership theories and approaches as the evidence will show how the styles incorporate with the case study. Kirsty has several leadership styles; Path-goal theory is one of the approaches which are used in The Sandwich Factory by Kirsty, the owner. An examples of this style is I have a vision and I try to make it clear to staff that we are in this together, all going the same way towards one goal (Case Study: Week 5). Kirsty is letting all the followers know by this statement that there is a path and a target and everyone is in it together as a team. The role of the leader is to steer workers towards achieving the end goal. Leadership also motivates when it makes the path to the goal clear and easy to travel through coaching and directions, when it removes obstacles and roadblocks to attaining the goal, and when it makes the work itself more personally satisfying (Northouse 2007: 128). There are many advantages to the Path-goal approach, Kirsty and the followers have mutual respect; it is easier to communicate with subordinates when there is a flatter system and fewer channels to get through, the leaders style is informative, encourages and supports the employees, and shows guidance in achieving goals. The theory works around context and the work setting rather than leaders style which occurs in the contingency theory. The underlying assumption of path-goal theory is derived from expectancy theory, which suggests that subordinates will be motivated if they think they are capable of performing their work, if they believe their efforts will result in a certain outcome, and if they believe that the payoffs for doing their work are worthwhile (Northouse 2007: 127). The responsibility of the leader is to help employees achieve their target, making sure that the path to the end goal is understandable and simple; from this workers will become confident and be motivated fo r future tasks. Subordinates will find the work easy as the goals will be broken down and explained well by superiors. There are also flaws to the Path-goal approach; the theory assumes the leader knows everything and has the qualities to give a clear path to followers to reach their goal. It also presumes that subordinates will be motivated by the perception of the possibility of achieving a goal and the leader is expected to have a positive impact on the followers and motivate them regardless of the situation. Introduction to the Leader-Member Exchange Theory approach. The Leader-Member Exchange (LMX) theory is another approach which applies to the case study; it is the only theory that deals with in and out groups. All the employees seem to be in the in group; luckily The Sandwich Factory has no visible out group. The in group has dyadic relationship with the leader where as the out group has more of a formal relationship with leader and are not felt a part of the tasks that are performed. These groups are created by the leader, if the followers agree to negotiate with the leader then they will become a part of in the group and will be further more involved with current and perhaps future projects depending if the individual can keep the leader satisfied with the standard of performances. The job of the leader in the LMX theory is to ensure that followers feel important and unique member of the team. The LMX theory develops into two stages; firstly the leaders initial impressions of the worker such as their personal and demographic characteristics. Secondly the output that is produced by the employee, the leader will judge if the tasks completed are to standards expected, on this basis the worker shall either enjoy high quality leader-member exchange or they shall be placed in the out group by the leader, where treatment will not be so pleasant. An example of the LMX theory in the case is when Kirsty mentions workers can add their own input to the business, these type relationships exist when the leader has a strong and stable relationship with employees which is a feature of this approach. I also have to trust staff to be fully committed to what we want and I`m open to any ideas on how to make that vision a practical reality (Case Study: Week 5). Kirsty has developed a loyal individual relationship with all team members which in effect will create a greater output as the Senior Management Team will be motivated by Kirstys influence. One of the undeveloped parts of the theory is a follower from the in group is perceived to be good at all task just because the subordinate is good at one task For instance, a members less than satisfactory job performance is tolerated because of the loyalty he has shown to the leader (Othman, Ee and Shi 2009: 340). This implies that the leader may misunderstand the worker and misclassify their performance. This is a defect of the LMX approach which is major compared to other theories as it affects the quality of work. There can be constant change within the groups, people maybe be dropped or may start involving themselves with in the in group depending on circumstances. Introduction to the New Leadership Theory approach Transformational leadership came into focus in the early 1980s. This theory gives attention to charismatic and effective aspects of leadership; it changes and transforms subordinates as the name implies. It is concerned with emotions, values, ethics standards, and long-term goals and includes assessing followers motives, satisfying their needs, and treating them as full human beings (Northouse 2007: 175). Kirstys leadership style can be seen as transformational as she is interested in on focusing on helping every member of the group succeed. Kirsty says I try to be hand on hand to clarify any issues the staff have (Case Study: Week 5). One of the components of the transformational theory is Idealised influence (charisma). This method the leader shows clear set of values that need to be followed and acts as role model to the workers. This charismatic dimension of transformational leadership is characterised by providing a vision and a sense of mission, instilling pride among the group, and gaining respect and trust (Humphreys, Einstein 2003: 86). The leader is seen as a hero by employees. Kirsty is getting more out of her staff since they seem to be in high spirit at work. An example of this approach being applied in the case study is the staff seem to be happy and enjoying the devolution of authority and responsibility I`ve been able to give (Case Study: Week 5). This can be seen as individual consideration to members of the team that Kirsty feels can be developed to accomplish more. The flaw of the approach is it tries to involve too many factors which can create confusion and uncertainty to the follower and the leader if it were too be practiced upon. Transformational theory is unlike other theories it does not take into consideration how the leader should act to particular situations to be successful. Transactional behaviour is a part of the modern theory approaches, which comes under the New leadership approach. It works by motivating subordinates and rewarding or punishing them depending on how well they perform with the tasks. In this approach the leader has hold over the followers and expects the workers to perform to high standards. Kirsty does not hold this type of style; her leadership approach is more towards the Transformational theory which is more lenient and considerate towards the follower. The strengths and weaknesses of Kristys leadership Path-goal theory approach. There are many strong points and weakness of Kirstys leadership in The Sandwich Factory. The first approach that will be critically analysed is the Path-goal theory. This style is concerned with how leadership behaviour can influence the satisfaction and performance of a follower in an organisational setting. The Path-goal approach is about diminishing obstructions to reach goals then rewarding the employees for task achievements. In essence, the path goal theory attempts to explain the impact that leader behaviour has on subordinate motivation, satisfaction and performance (Jain 2005: 328) One of the strengths of the Path-goal approach is that it deals with a combination of factors. There are a few types of leadership styles in the path goal theory, the approach suggest that these behaviours should be used in different circumstances to motivate subordinates. Supportive Leadership the leader attempts to solve any concerns of the subordinate, so if the follower is unsatisfied the leader will show genuine support to help resolve the issue facing the person. The supportive leader likes a friendly environment and gives strong attention to the needs and wellbeing of his or her subordinates (Silverthorne 2001: 151). This type of approach is best used when jobs are boring or stressful e.g. car manufacturing factory. Achievement Orientated Leadership The leader has set high expectation for followers at this style, challenging the employee to his/her fullest, hoping the subordinate will excel in their field, showing confidence that they will achieve goals set and perform well. People who perform a variety of tasks may find their jobs more satisfying and have less need for social support (Marriner-Tomey 2004: 174). An example of this approach being applied in the case study is the staff seem to be happy and enjoying the devolution of authority and responsibility I`ve been able to give (Case Study: Week 5). This shows that subordinates are content and willing to take on extra tasks. The disadvantages of the Path-goal theory are it is too broad and tries to involve all aspects (directive, supportive, participative and achievement orientated leadership), and incorporate all these together which makes it difficult to actually practice upon the theory fully. It also does not explain how these four types of approaches will affect the employees work. This leaves the practitioner with insufficient proof how this theory will work in reality and how it can be applied to an organisation. . The strengths and weaknesses of Kristys leadership Leader-Member Exchange approach. As discussed earlier in the report the LMX theory relates to the case, Kirsty and her friends that previously worked for Mr Bakes all moved across to start a new company called The Sandwich Factory which consisted of Kirsty and several other colleagues as having share in the business. The friends are noticeably in the in group, which is considered a strength, where Kirsty has a strong relationship with these subordinates, who have been given a managers role Kirsty`s colleagues now hold senior positions on the Senior Management Team (SMT) (Human Resources, Finance and Production) (Case Study: Week 5). Kirsty and the followers have mutual respect and trust towards one another which are strengths of the LMX theory. The theory emphasises the importance of recognising the existence of in and out groups within the work place. LMX theory is the only leadership theory that makes the concept of a relationship between leader and follower the centrepiece of the leadership process. Leaders in high quality LMX relationships rely heavily on followers to act in their stead (Dunegan et al., 1992) and encourage them to undertake more responsible activities (Graen and Uhl-Bien, 1995) (Kang, Stewart 2007: 534). In the interview Kirsty answered saying we all got on well with our previous employer (Case Study: Week 5), this implies that the relationship must of been healthy with Mr Bakes organisation. The in group has been carried forward to Kirstys company The Sandwich Factory, one of the strengths of this approach. It can be argued there are limitations to the LMX theory, the out group are deprived of attention from the leader in the context of work groups, it is possible that such a situation can be divisive and undermine group performance (Othman, Ee and Shi 2009: 340). This type of behaviour is can be seen as destructive leadership as it upsets employees even though partially some of them may be content with their job and boss. The out groups morale will be extremely lower compared to the in group who will be enjoying a healthy relationship with the leader. Staff in the out group will not be so committed and motivated to do well in their jobs. The Sandwich Factory does not have an out group just yet this may be because the company is relatively new and Kirsty leadership style will not allow it for these types of circumstances to occur as they will have negative repercussions. First impression of this theory will not be great to leaders and practitioners as it displays unfairness and favouritism towards the out group as leaders are only concerned with performance. The strengths and weaknesses of Kristys leadership New Leadership approach. Kirsty has transformational leadership qualities, which is another modern leadership approach, this also known as New Leadership which in addition has Transactional Leadership. She takes control of situations by conveying a clear vision of The Sandwich Factorys goals and objectives; she has a passion for the work and the ability to make the followers feel re-energized. This type of leadership consists having a shared vision and unity within the team. One of the strengths of transformational leadership is to give clear direction and involve others in developing the vision. This statement given by Kirsty in the Young Entrepreneur (London) Monthly relates to this theory The original idea to start up the company was mine, but I needed people to come with me to make my vision work for the betterment of all involved in the company (Case Study: Week 5). The transformational theory has become popular over time as it allows the leader to get the most out of the follower when executed in a considerate but professional manner. Bass (1990) suggests that by applying the behavioural characteristics of transformational leadership, leaders can guide their followers toward performance beyond expectations (Humphreys and Einstein 2003: 85). The disadvantage of the transformational approach it depends on highly skilled and developed employees to be triumphant in tasks assigned to them. Another criticism about the theory is the approach presumes followers want change. This theory also believes that leaders are people that can transform others around them. Then this brings up the question, how sure are the followers that the leader is making the right decision? The Transactional theory is about the leader having full control and authority over subordinates. The leader makes it clear what is required from the follower. A form of transactional approach in the case is when Kirsty says I found myself papering over some cracks that appeared in the early days when we had to get things done fast (Case Study: Week 5). Transactional leader works or a reward or punishment basis to motivate followers, if the employee reaches targets within a low budget then they will be given an incentive and if the worker fails the task or is not complete on time the worker will be punished or the leader will begin to make the follower feel uncomfortable. The limitation of the transactional approach is that its primary focus is on rewards and punishments. Rather than the growth and needs of employees which the transformational theory concentrates on along with other styles, maintaining a balance of what is important. Conclusion All three modern leadership theories and approaches have been identified in this report and how they have impacted subordinates as well as the leader. The path-goal theory motivates workers to make them feel that they can do the work and Kirsty uses this style to encourage subordinates that they can fulfil tasks. Transformational theory has the same type of idea but it seems less complex to use and apply in The Sandwich Factory. The LMX approach is not widely used or applied but there are hints of the theory with in the case, mostly regarding the in groups that have been created in the company by Kirsty. The entire the way through the case study Kirsty keeps referring to we as the organisation went through all different stages together e.g. we created a market, we had to get things done faster and so on. This is clear evidence that Kirsty does not just see herself running The Sandwich Factory but strategically as team, which shows great leadership to progress forward. Evidentially these modern leadership theories have been used by Kirsty and have worked well. The analysis has revealed the strengths and weaknesses of the modern leadership approaches related to The Sandwich Factory.