International Game Technology IGT Essay Example for Free

International Game Technology IGT Essay International Game Technology (IGT) Introduction            The short term and long-term debt for International Game Technology as at 31st March 2014 stand at $ 1,426,400 and $ 1,760,500 respectively. The total liabilities for the company sum up to 3,186,900. This information is generated from the company quarterly report. The market value of equity of IGT is $ 3.98B and the outstanding share is $ 24M.            The debt ratio helps a company compare its total debt to total liability and equity. This ratio is used by the company to have the general notion as to the value of leverage being applied by a company. A lower value implies that the business is less reliable on borrowed funds. The less the ratio or leverage the business is applying, the stronger is the equity position of the company (Tamari, 1978). On the other hand, the bigger the ratio the higher the risk the business considered to have invested on. Debt to equity ratio is less the same as debt ratio. This is another gearing ratio that compares the business liabilities to its outstanding shareholders’ equity (Tamari, 1978). The same case with debt ratio, a lower value implies that the business is applying less borrowed fund and the better is its equity stand.            Therefore, in both case I consider these ratios too large for the IGT Company. It implies that the company is highly exposed to risk such as creditors’ lack of confidence with the company and increase in interest rates. IGT Company should consider paying off its debt. It can raise capital for paying debt by issuing more stock.            Among the three companies, IGT Company has the highest debt to equity ratio. The company may have opted for this approach in order to benefit from deductible interest tax and build the credit for the business. This approach will also ensure maintaining completely ownership of the company. The challenges with issuing large amount of stock means those shares outstanding of the company become more diluted and the current investors earn smaller ownership fraction with every extra share issued (Wiehle, 2005).            On the other hand, Multimedia Games Holdings has the lowest debt to equity ratio. It might have opted for this option in order to enables it investors raise capital without facing debt. This will allow the company owners to concentrate on making their outputs more profitable instead of paying back to lenders. Multimedia Games Holdings may have also opted for this approach to allow the company owners and investors to create a long-term association throughout the lifetime of the business. According to Wiehle (2005), the cash flow for the company will be utilized on investments instead of paying interest and outstanding debts. Moreover, this compare can be termed as a small company if you compare it with the other two companies; hence, it might have opted for this method for the fear that it will face liquidity issues and fail to pay its outstanding debts (Wiehle, 2005). References Tamari, M. (1978). Financial ratios: analysis and prediction. London: P. Elek. Wiehle, U. (2005). 100 IFRS financial ratios (1. ed.). Wiesbaden: Cometis AG. Source document

Free YGB Essay - Perceptions of Hawthornes Young Goodman Brown :: Young Goodman Brown YGB

Perceptions of Young Goodman Brown In "Young Goodman Brown", Nathaniel Hawthorne makes visible the perception we have of what is chaste and amoral by showing Goodman Brown that the people perceived as being the most holy are just as guilty of immoral thoughts. The naming of Goodman Brown is that it could be anyone that has to face these moral issues between good and evil. It is an everyday occurrence for us to want to test the waters of evil. The story is a reflection of existence, being that each has a path to take and decisions to make. Young Goodman Brown decides to venture forth into the realm of unknown by a yearning unknown to him. He meets up with a traveling companion who is an elderly reflection. He caries a staff of serpent life symbolizing evil. Along the path, Goodman Brown sees people he identifies with divine happenings. His conviction in humanity is shattered. He begins to converge his thoughts to heaven, for the strength to see through this masquerade of earthly surroundings.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Goodman Brown is curious as to what might lay ahead on the late journey. His wife pleads for his stay, only to be denied. She speaks of dreams to Goodman Brown, he reflects on this and denies any unnerving thoughts. Goodman Brown comforts himself by convincing himself that this one deed will be the last, he will then never leave Faith again. He is asking for forgiveness since he is about to cross the line of good and evil. If he can just take leave of his virtuous living for one night, he will forever be at Faith's side. His journey leads him along a dark avenue into the woods. His traveling companion awaits his arrival, and his tardiness is blamed on his Faith. Goodman Brown is quick to note that he still has Faith, but he will journey this one time. After time passes, Goodman Brown begins to realize his mistake for taking leave this late evening. His Faith is far from him now and he would like to adhere to her wishes. He fights to take l eave of his companion, but his will is too weak. Unconsciously he continues forward. Brown questions the stranger and does not know of such evil existing in his family, but the stranger conveys to Goodman Brown the past experience he has had with his relatives.

Toys and Games industry

Toys R Us is one of UK’s leading toy and game retailer. This report conducts an academic research focus on Toys R Us (UK) in toys and games retailing sector. In the first part of this report, we will discuss the toys and games industry background and the overview of Toys R Us. Then, the research will focus on Poster’s Five Force Model and Porter’s Generic Strategies. In the next parts, this report will concentrated on the potential strategies which Toys R Us might pursue in the future. Conclusion and recommendation will be mention in the final part of this report and the recommendation will be covered the best strategy for Toys R Us which can be used for the future competitiveness.1.1 Industry Background After the decline in 2008 and 2009, the toys and games market has grown about 5% just under  £2.2 billion. The market has opportunities to increase the sale revenue from 2010 to 2015 (MINTEL 2010). The Figure 1 shows UK retail value sales of toys and games betw een 2005 and 2015. (Figure 1, Source from: MINTEL Report 2010)According to MINTEL 2010, the main players in the toys and games industry in UK is Argos, Toys R Us, Disney and some internet specialists such as Amazon and Ebay. The Figure 2 shows the retail market share for those main players. (Figure 2, Source from: MINTEL Report 2010)1.2 Company overview Toys R Us is UK’s leading traditional toys and games retailer with over 1500 stores and 71,000 employees (including part-time employees) in 33 countries and the company’s headquartered in Wayne (DATAMONITOR 2011). Toys R Us offer Toys, Baby care, Video games, Multimedia PCs, Bikes and outdoor fun products (Toys R Us 2013).2.0 Poster’s Five Force Model2.1 The threat of new entrants According to Dess, Lumpkin and Eisner 2010, the threat of new entrants is depends on the level of entry barriers. In the UK toys and games industry, there are strong competitions for the pricing. According to MINTEL 2010, since 2008, co nsumer prices for the games and toys have fallen, so most retail cut down the price therefore strong competition in the toys and games industry. Moreover, Economies of Scale can be also related to the entry barriers. Finally, the government policy is major source of entry barriers. For example, national land policy can be effect the manufactory and location of stores, the entry barrier is also influence by high VAT rates for the company which standard rate is 20% and reduced rate is 5% in 2013 (GOV.UK 2013).2.2 The bargaining power of suppliers Toys R Us has increase the number of suppliers over 3000 manufacturers. Mattel, Hasbro and Namco Bandai are the main suppliers for Toys R Us. Those 3 manufacturers are top 20 suppliers in toys industry and Best-selling Toys of the year are always given to those 3 suppliers (GIMD 2011). Nintendo and Sony are also the main suppliers for Toys R Us. Those 2 companies are famous video games suppliers. Nintendo has produce NINTENDO 3 DS and Sony ha s produce PlayStation 3 and PSP, those 3 product all have good sale revenue in the games market (Toys R Us 2013).2.3 The bargaining power of buyers As this report has mention before, Toys R Us is one of UK’s leading toys and game retailer, therefore the company has strong brand image, when consumer planning to purchase toys or games, Toys R Us is always become a first choice for purchase toys and games because the strong brand image. Moreover, there are limited numbers of global retailer in the traditional toys and games industry therefore Toys R Us has strong buying power (GMID 2011). The Figure 3 shows the child/youth population by age and gender between 2005 and 2015 in UK. From this table, we can see the populations between ages 0-14 are increase from 2005. The target market for Toys R Us are children, if the populations of child is increase, the buying power will also increase. (Figure 3, Source from: MINTEL Report 2010)2.4 The threat of substitute products Toys R Us is mainly focus on traditional toys and games sector. However, since the new technology is coming to the market, such as Ipad, X-box 2 and some new online games, the consumers’ needs are changing. More young children prefer the game in Ipad video game and online game rather than traditional toys; therefore Toys R Us is facing on high threat of substitution.2.5 The intensity of rivalry among competitors in an industry Woolworths was the biggest toys and games retail in UK, after the collapse of Woolworths in 2008, Toys R Us, Argos, Disney and other online retail such as Ebay and Amazon became the major players in toys and games industry. In 2009, Argos has 24% market share which are top one in UK toys and games market. Toys R Us has 17% market share and Disney only has 3% market share (MINTEL 2010). Figure 4 shows the outlet, sales, positioning and evaluation of those major players in toys and games industry in 2010. (Figure 4, Source from: MINTEL Report 2010)3.0 Porter’s Generic StrategiesIn this part, this report focuses on Porter’s Generic Strategies to analysis the strategic positioning of the major play in toys and games industry. According to Dess, Lumpkin and Eisner 2010, Porter’s Generic Strategies include three strategies which are Differentiation, Focus and Cost leadership which a company can use for achieve competitive advantage and overcome five force. Figure 5 is made by the Porter’s Generic Strategies; this graph shows the main competitors for Toys R Us in toys and games industry. From this graph, we can find out Toys R Us is using differentiation strategy, the strategy for Disney Company is Focus strategy, Argos and amazon concentrated on Cost Leadership strategy. (Figure 5)Differentiation can be defined as a strategy based on creating differences in the company’s product and service (Dess, Lumpkin and Eisner 2010). As this report has mentioned, Toys R Us is using Differentiation strategy. The Company is pro viding different customer service as other competitors in the toys and games industry. According to Toys R Us 2013, every store of Toys R Us has an extensive Babies R Us department, inside of the Babies R Us included furniture, car seats, bedding, strollers, safety products, nappies and baby food for all parents and babies.Moreover, the company can be achieved the Differentiation strategy by strong brand image and wide range of products. As this report mention at the induction, Toys R Us is one of UK’s leading toy and game retailer therefore the company has strong brand image to achieve the differentiation strategy. According to MINTEL 2010, Toys R Us provides large range of toys and other children-related products. There are some advantages of Toys R Us using the Differentiation strategy. Firstly, this strategy can improve consumers’ loyalty. Differentiation strategy can also help company to decrease the threat of substitute products. On other hand, there are few disa dvantages for differentiation, consumer may prefer to purchase product from the company who using the cost leadership strategy.Disney Company is using focus strategy. The products from Disney shop are related to the Disney film (Disney store 2013). The company is focus on the customers who like the Disney brand images, most consumers will decide to purchase from Disney store if they like watch the Disney films especially young children. Argos and Amazon are focus on cost leadership strategy. Both companies are offering wide range of toys and games with low prices.4.0 Potential strategies might pursue in the futureIn this part, this report will mainly focus on the strategies which the Toys R Us may pursue in the future.4.1 Vertical Integration Vertical Integration is an expansion or extension of the company by becomes its own supplier or distributor (Dess, Lumpkin and Eisner 2010). According to GIMD 2011, the key strategic objective and challenges for Toys R Us is extending private l abel ranges. Vertical integration is one of best strategy to achieve this objective. If Toys R Us becomes its own supplier, the company will much easier to extending private label ranges. Moreover, the  company’s transaction costs are much higher than administrative costs, so vertical Integration becomes an attractive strategy for Toys R Us.There are few benefits for Vertical Integration. Firstly, the strategy has benefits on access to new business opportunities, this will be helpful for Toys R Us achieve the objective of extend private label ranges. Secondary, this strategy can help Toys R Us to make sure the quality of the product, therefore this will help to increase the consumers’ satisfaction. Finally, Vertical Integration can help company to reduce the transaction costs.4.2 Strategic Alliances Strategic Alliances can be defined as two or more companies have a cooperative relationship (Dess, Lumpkin and Eisner 2010). As this report mention in the second part, mo st young children are prefer video games rather than traditional toys, so Toys R Us might concentrate on video games sector in the future, to development a new video game, the company will need a strong technology, the company might think about the Strategic Alliances. As this report mention before, Nintendo is a famous video game manufactures, the company has sold about 2.4 billion video game since 1983 (Nintendo 2013).If Nintendo become an alliance partner with Toys R Us and development a new product with strong brand image from technology and high level of technology skill Nintendo, both companies will easy to increase the market share in the toys and games industry. The advantages for Strategic Alliances will be reducing manufacturing costs in the value chain. Moreover, this strategy will also help on developing and diffusing new technologies.4.3 Internal DevelopmentInternal development is focus on new products and new technology. According to GMID 2011, a key objective and chal lenge for Toys R Us is development of exclusive products, this strategy may help Toys R Us to achieve this objective. Moreover, the company is not having to using the Strategic Alliances to development a new video games, this strategy can help company to development own innovative product without having to share the wealth with alliance partners.5.0 Conclusion and RecommendationIn conclusion, this report has concentrated strategic analysis on Toys R Us in toys and games industry. In the first part, the report has discussed the industry background and company overview. Then, the analysis of Poster’s five force model takes the second place. In the third part, this report analysis the Poster’s Generic strategies which show Toys R Us are concentrated on Differentiation strategy. Finally, the report mentions the several strategies which Toys R Us might pursue in the future.After the report analysis those strategies for Toys R Us, we can give the recommendation on the best s trategy for the future competitiveness. Figure 6 shows the benefit and risk of the three strategies for Toys R Us, compare those three strategies, all of strategies have both benefit and risk for Toys R Us, but we recommend that Strategic Alliances is the best strategy for Toys R Us in the future.New product development is the main objective of Toys R Us, if the company can develop own video games product, it will easy to increase the market share in toys and games industry, Strategic Alliances is the only strategy which can help Toys R Us to achieve the goal in the fastest time. Internal Development may also help company to develop new product, but the company will need spend high cost on new product development and Toys R Us may not have enough technology skill on video game as the company such as Sony and Nintendo. (Figure 6)

Gap In Policy Essay - 990 Words

Existing gaps in policy program and practice Although there have been different interventions, policy programs and approaches to dementia, there still remain a significant amount of gaps in practices. Evaluation studies have shown that even though there is certain evidence showing different forms of interventions for dementia, the amount quality of care provided is poor. For instance, a dementia study had results which revealed that about only 35 percent of suggested care quality indicators being achieved (Reuben et al., 2009). When referring to some factors behind this, it was realized that most physicians are not so much interested in educational and counseling sides of dementia care, as well as not having sound knowledge on other†¦show more content†¦Recommendations The WHO highlighted that â€Å"Poor understanding creates barriers to timely diagnosis and to accessing ongoing medical and social care, leading to a large gap in treatment† (WHO, 2012). However this could be avoided with proper creation of awareness guidance for easy understanding of dementia, as well as eradication of stigmatizations which tend to devastate dementia patents and their family/carers even more (WHO, 2012). The medical community working independently with little to no cooperation with the local Alzheimer’s Associations chapters suggests that most health practitioners and organizations are not working together in other to maximize dementia interventions (Reuben et al., 2009). This can be a potential barrier, because most interventions need a cross-sectional approach from both the health workforce and other department workforces (other organizations outside health such as transportation, infrastructure development, etc.) to fully maximize benefits of the intervention. This is basically saying, everyone needs to work together and not making any step of the process a â€Å"one man’s job† or depending on a particular profession-model (Reuben et al., 2009). In delivering validation therapy, most people (especially families carers) feel worried of its approach, as it might require being untruthful to the dementia patient regarding reality. This means thatShow MoreRelatedThe Inequalities Of The Gender Pay Gap1511 Words   |  7 PagesIntroduction It is important to address the systemic inequalities of the gender pay gap. To do this, this essay will use Bacchi (2006) approach to analyse the text â€Å"Speech to HRINZ: The reasons for the Gender Pay Gap† by MP Paula Bennett. This essay will illustrate the theoretical perspective of liberal feminism to show the understanding of the problem, and the solutions of the gender pay gap. This essay will also look at two other theoretical perspectives, social democratic, and anti-racism andRead MoreThe Strategy Of Contractionary Fiscal Policy1194 Words   |  5 PagesOutline the suggested long-term benefits of such a policy? 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