Marketing Plan for a new Product in Qatari Market Essay

Marketing Plan for a new Product in Qatari Market - Essay Example The mission statement of automobile firms defines their brand, culture, and customer experience. Since Chevrolet is a brand of the GM, it uses the mission statement of the General Motors Car Company. The mission statement of GM is backed by the following core principles: safety and quality first, create life-long customers, innovate, deliver long-term investment value, and make a positive difference. The unofficial mission statement of Chevrolet brand is â€Å"We win when the customer says we win.† In the Middle East, the Chevrolet-branded cars are a sourced from General Motors in North America, General Motors Korea in South Korea, and General Motors Holden in Australia (Gustin, 2008). Chevrolet has various vehicles. To that effect, the paper will discuss the marketing plan for Chevrolet Cruze car brand in the Qatari market. In the present scenario, the Qatari automobile market segment has now been developing in a considerable manner due to augmented demand for fuel efficient, spacious, affordable, and easy to maintain cars. According to Qatar’s Automobiles Company, by the end of this year, about 90,000 cars had been sold in Qatar with most of the vehicles being from Toyota Company. Furthermore, Rolls-Royce also realized an increase in sales by 37 percent. In the same way, most of the automobile companies recorded an increase in the number of sales. However, Bhaktavatsala (2013) notes that more than 700,000 people drive Chevrolet cars in Qatar. Chevrolet has significant market share in the automobile market. Most of the people who purchase motor vehicles in Qatar have higher disposable incomes. This implies that they have the ability to purchase the vehicles in spite of their higher prices. Most Qataris prefer to purchase vehicles that are technologically advanced, fuel efficient, stylish with modern features, and easy to maintain. Proceeding further, nobody denies that safety is one of the major concerns of customers. Almost all automobile

Historical events of the US Essay Example | Topics and Well Written Essays - 1250 words

Historical events of the US - Essay Example The conventional Protestant spiritual groups set up religious bases in Asia and Africa, as well as over 450 missions in China by the year 1900.The 20th century started with the US entangled in a severe and bloody war. However, that war is no longer remembered, a war that cost millions of dollars, thousands of lives and displacement of millions. ThePhilippine-American War that was fought between1899 to 1902 resulted in approximately 265,000 human deaths. Thewarassistedthe US establish itself as a military powerhouse in the Pacific regions. While the European powers were engaging themselves in the First World War (WWI), the then president of the US Wilson Woodrow was apprehensive that Germany might take up Haiti and destabilize the pathway leading to the Panama Canal. In order to assert and protect its interest, Wilson sent a few hundred US Marines and Navy men to Haiti. In 1898 and 1899, The US took over Hawaii and obtained the Philippines, Puerto Rico, and some parts of the Pacific I slands. Theexpansionraisedthesignificantquery of if their recently annexed states would be given the American citizens civil rights. HavingwonboththeSpanish-American War and Philippines War symbolized both an addition to earlier expansionist desires and a quick departure from suppositions that had steered American foreign strategy before. Fortheveryfirsttime, the US made significant strategic dedications in the Far East; acquiring regions that had never been planned for statehood, and dedicated itself to law enforcement actions.

Impact of escalating gas prices on the U.S. Essay Example for Free

Impact of escalating gas prices on the U.S. Essay The oil prices have been creeping higher in the recent past and the current gas market conditions in the United States of America are very uncertain as well as unstable which has further led to a lot of negative effects on the gas consumers. The gas prices have been rapidly escalating in the American markets which have led to the amplification of the medium term economic effects. The American economy’s prosperity remains at risk for as long as the oil prices in the country remain very high and also unstable. The increasing oil prices in America also quantitatively affect the country’s macro economy. The impact of the escalating oil prices on the US economy The oil prices in America remain a very important determinant in the overall performance of the country’s economy. It is also important to note that the overall increase in the oil prices in America has further led to a transfer of income from the American economy to the exporting countries through a trade shift. In America the degree of the direct effects of a specified gas price is highly determined by the share of the oils’ costs in the income of the country and also the ability of the gas users to reduce their personal consumption and wholly change from the gas to other alternatives. The increasing gas prices in America has also highly affected the rate of inflation since in most of the times the consumer price index has been on the increase and this clearly shows that there is a correlation between the oil prices movements and the changes which occur in the rate of inflation. This then clearly stipulates that the increasing oil prices in America further drive up the imported oils costs and in general terms the rate of inflation. (Anne, 2007) With the worlds demand for oil rapidly increasing and the oil supplies very limited, then the American economy is more likely to suffer the damage in the short as well as long-term. The high oil prices in America are amongst the key factors which have made many economists to scale back their predictions for the country’s economic growth in the present year. The country’s economic growth rate has highly reduced because of the increasing oil prices and this has resulted to a growing rate of unemployment in America. (Brown, 2004) The gasoline prices in America are expected to even hit new highs since the American refineries are currently producing as much gasoline as they can include other oil products. In the larger picture the American authorities have not built any new refineries or even upgraded the old ones because of the environmental and the regulatory concerns. If the oil supplies were to greatly increase then the supplies of the major oil products would not substantially grow and thus the gas prices and the other refined products would stay very high. (Harvey, and Ted, 2007) The higher oil prices in America also highly spurs inflation and this further leads the federal reserves to push the interests rates up and this in turn causes the car loans the mortgages and the credit cards to become much more expensive than they already are. This whole issue sends a lot of ripples through the financial markets in America. The rising rate of inflation tends to highly affect the bond prices which further reduces the economic growth that could help in keeping the interests rates down. When the gas prices go up then the bond prices also go up because the economic growth rate is very slow but this does not similarly apply to the stock markets. On the other hand the high gas prices have a negative impact on the stock markets as this leaves the consumers with very little monies to spend as this also undermines the corporate earnings which are key to the prices in the stock markets. The depreciating US dollar has contributed to the escalating gas prices which are partly based on the dollars value. Source: Anne, F. (2007): Comparison of US gasoline Vehicle Fuel prices in the U. S. Pedant Centre on Global Climate Change, Washington In America the hurricane threats to the oil platforms, the labor strikes, the terrorist threats and the fires at the oil refineries and also other problems which are short lived they all are not wholly responsible for the escalation of the gas prices. They however push the gas prices higher but they are not the fundamentals in causing the high escalating gas prices. (Department of Transportation National Highway Traffic Safety Administration Office of the Chief Counsel 2006) Currently there has been an increasing speculation in the oil market globally and therefore there is an increase in the American gas prices and this could extend into the long term. America has the highest and the largest oil demand so far in the world and therefore the depleting domestic production and also the expanding demand by the oil consumers in the US further leads the country to import oil from the foreign countries. This dependency then has made the country very vulnerable to any disruptions in the oil supplies. In America the increasing gas prices makes the other unconventional sources of oil very attractive to the businesses. For the working class in America that includes those who earn their living without any benefits and also those who have older vehicles with an average of less than 20 MPG, they are usually faced with several alternatives. They commute by using the public transportation, the light rail, the rapid transit as well as the bus, they also carpool, scooter, motor cycle, walk or even bicycle or even relocate to the inner city if one resides in the areas that are suburban. Surprisingly many businesses are also moving away from the 24 hour operation since the higher gas prices are highly discouraging the lifestyle trends of the past. Some restaurants and also cafes are also closing down very early and they are well known for their 24 hour operating cultures. The airlines have also been heavily affected by the same and they have not been left out in introducing the fuel surcharges or they can even scale back their operations in efforts to trim the fuel costs which are spiraling. The high gas prices has also affected the schools in many districts and particularly the large school bus fleets have reduced since the schools can no longer maintain to run the high fuel costs of the buses. The ongoing gas hike in America has worried very many people especially the consumers who are spending so much The American economists further state that if the Americans will have to spend more money on their gas consumptions then they will definitely have very little money that is left for to spend on the other goods and services. Also as the gas prices go up then the prices of other goods and services especially the foods also go up. The gas prices in America are highly affected and driven by the costs of the crude oil and the escalating oil prices in America are being attributed to the to the high Americans demand . An example of this is that during the summer vacation seasons most of the American family’s require more gas since they use their vehicles for the long trips. (Bearn, 2003) Conclusion There are many reasons that lead to the increased gas prices in America and also the decrease in oil supply. This has been partly because of the Middle East’s growing turbulence and it is the world largest oil producing region in the world. In the hurricane Katrina scenario the supply flow from the gulf coast offshore rigs which is the largest oil source in America for the domestic market was heavily crippled. This further led to the a temporary shut down of two major on shore pipelines and also at least 10% of the country’s refining capacity was not in operation in the storms wake. In America despite the increase in the gas supplies the prices have continually raised at a very fast rate than in the past and this has further led to an increased discussion on the theory of the peak oil and a future possibility that would see the supply of oil highly reducing. Some experts say that even though the oil supplies themselves are not reduced the easily accessible light sweet crude sources have almost been exhausted and in the future the Americans will depend on the more expensive sources and alternatives to the heavy oil. (Anne, 2007) The united states of America always keeps about 700 million crude oil gallons for storage to cover far any national emergencies but this reserves have gone down to 650 million gallons as more oil is being diverted from the reserves to the markets at large. Reference: Standard Poors DRI, The U. S. Economy, issues 2000/12, 2001/1, 2001/2 and 2001/3. WEFA, US Outlook, issues December 2000, and January, February and March 2001 Brown, S. (2004): U. S. Gasoline Prices on the Rise Once Again, Federal Reserve Bank of Dallas Expand Your Insight, May http://www. dallasfed.org/eyi/usecon/0405gasoline. html ASEAN Competitiveness Study, McKinsey Company, August 2003 Higher Global Oil Prices Implications for Asia in 2005, Asian Development Bank, 2005 http://www. adb. org/Documents/Books/ADO/2004/update/part030200. asp Developing Asia and the World, Asian Development Bank, 2005, http://www. adb. org/Documents/Books/ADO/2004/update/part010000. asp Higher Global Oil Prices Implications for Asia in 2005, Asian Development Bank, 2005 http://www. adb. org/Documents/Books/ADO/2004/update/part030200. asp Switch it Off, The Asia Section, The Straits Times, June 2, 2005

Coca cola Company, Changes and challenges

Coca cola Company, Changes and challenges The main objective of this work is to provide necessary knowledge about business environment. To elaborate the demographic, cultural, political, social, environmental, technological, economical and legal environment where business function. It also explains the relationship among business, environment and society as well as how to adopt the changing environment in the organization. This paper will analyse the changes and challenges in Coca Cola Company in last five years and how company deal with them. 2. Introduction Environment means the influences, circumstances, constraints and opportunities that surround and affect business organization. There are two kinds of environment micro environmental factor and macro environmental factor. Internal factors close to the organization called macro environment. It can be controlled by organization. Micro environmental factor affects the company ¿Ã‚ ½s decision making process and performance. These factors include consumers, suppliers, and competitors. The external factors which affect organization ¿Ã‚ ½s plans and strategies called macro environment. It is uncontrolled by the business organization. Which includes Political, economic, technological, social, environmental and legal factors. These factors are outside of the control of business. New laws, demography changes, tax changes government policy changes are the example of macro change. The successful management must be capable to adapting to the environment. It is important for an organization to know about business environment it helps to a business organization to develop its strategies and long term policy, knowing about the changing environment will keep the organization dynamic in its approach. (Saikh 2006). Moreover, it is important for business organization to analysis business environment and changes in different factors of environment such as, change in technological environment, economical environment. In decision making process, organization analysis various alternatives and choose the best one. It gives information to decision makers. It helps an organization to develop strategies and policies, understanding about changing environment help to diversify the business in new area and keep company dynamic (Jain et al 2009). In addition, changing in business environment impact on organization by making effective use of PESTEL business organization can take advantages of changing environment and make strategic plans for threats. PESTEL analysis is the most popular method which focuses on external factors of business where it operates. It is beneficial tools for understand the growth and decline of the market, direction for the operations, opportunities and business position. SWOT analys is is a tool that recognizes the strengths, weakness, opportunities and threats of business organization. This analysis answer the two questions, where is organization at present? And In what direction organization is going? To identify of SWOT analysis is important for business organization because succeeding in planning process for achieving the company ¿Ã‚ ½s goal. 3. Organisation Description and background The Coca Cola Company is the most valuable brand name and world ¿Ã‚ ½s largest non alcoholic beverage company. This company was founded in 1886 in united state of America. Now it operates in more than 200 countries. Coca cola also distributes juice, energy drinks, water, and coffee. The company has partnership with more than 300 bottling and canning company worldwide. Who produce and sell coca cola beverages worldwide. The bottling partners are responsible for consumer brand marketing initiatives, handle manufacturing and merchandising. John pemberrtion invented the original recipe of cocawine. Which was inspired by vin mariani, a popular cocawine invented by Angelo mariani. John Pemberton developed coca cola which was non alcoholic version of cocawine. When Pemberton was making drinks for his friend accidently he added carbonated water. His friend liked the test and he adjusts the formula. In 1888 company sold by three companies. Calder purchased one company with exclusive rights to the cocla cola formula from Woolfolk Walker, margate dozier and john Pemberton cut out of competition. In 1982 company started marketing the product and achieved status of national icon for the USA by its 50th anniversary. Coca cola started sold bottles in 1894 and cans in 1955. In 1899 Coca Cola Company made first bottling agreement with Chattanooga and Tennessee. In 1985, company introduce new coke by changing original formula. Most consumers preferred the test of original coca cola. Many people stop to buy the Product then company sh ift back to its original Formula. 4. Coca Cola Business Environment Over the past years, Coca Cola Company has faced lots of changes in the business environment. Company create counterpart with American sweet test product however, it was commercial failure and coca cola change its strategy and return back to its old formula. Consumers become more health conscious then company lunch new product to address consumer needs, such as diet coke and coca cola zero. Company bought bottling business in South Korea which allow to access in retail store as well as makes easy to entry in Japan, Malaysia and china. Moreover, china is now largest coke consumer in world. In 2007 coca cola output of coke in china was 3.6bn tons and it was export 15.3 m tons. By the end of 2007 coke total production in china was 360 million tons. In addition, from 2008 to 2009 company introduced new plant which capacity was 20 million tons. The target of china ¿Ã‚ ½s coke industry is export large quantity of production countries such as, India, Brazil, Belgium and Japan. In 2007, china export to Japan 22% of its total production. This report shows development and positive change in environment of coke ¿Ã‚ ½s industry in china. (China daily, newspaper website) 4.1 Political factors: Coca cola, the non alcoholic beverages falls in the category under the FDA (food and drugs administration) and government has power to set fine for the coca cola company that didn ¿Ã‚ ½t meet their standard law requirement. The charges in laws and regulations, such as taxation requirements, environmental laws and foreign jurisdictions can affect to their entry in foreign land. The changes in non alcoholic beverage Business Company might get pricing pressures, competitive product and their ability to maintain the share in global market. In international market if government change frequently their might be restriction to transfer funds from one country to another. However Coca Cola Company is fallowing the rules and regulation set by government. Since last two years government is so conscious about the environment. Company adjustments in planets and proper way of wastage settlement the chance of affected by the protection laws are decline. Political conditions are overall leave natu ral effects on coca cola industry. It impact good for the cock ¿Ã‚ ½s reputation. 4.2 Economical factors: Economic analysis explores national and world economy impact as well as inflation and recession. Economic factors are those factors that affect the production and sales of the company. If the economy condition is not good at that time coke decide to increase its price it would impact very negative in the production of Coke. Non alcoholic beverage industry has highly sales outside the USA. There has been improvement in soft drink Company in major international markets like Brazil, Germany and Japan. These markets play great role to growth of non alcoholic industry. The country like Pakistan where is the unemployment rate is very much high. In Pakistan coca cola company employs1800 people. During the last two years, the company in Pakistan has involved $130 million. If economic variables are positive of country it impact good otherwise the impact is bad. 4.3 Social factors: Many people are spending healthier lifestyle. Change in lifestyle, population growth rate and carrier attitudes affect non alcoholic industry so that many people like to have bottle water and colas instead of beer. The need of healthy products, bottle water, and juice is more important in the daily life. Consumers from the age of 37 to 55 are more concerned with nutrition. Older age people are becoming more concerned with increasing their long life. This kind of social trend can affect on demand of non alcoholic beverage industry. Increase in awareness among consumer and modern life style might be challenge to the coca cola company. However, company recognized the consumer ¿Ã‚ ½s needs and began to produce diet coke, like beverage, juice and sport drinks. Many nutritionists advise that maximum consumption of coca cola might be harmful to health especially to young children. Drinking of coca cola daily can effect on health after few years. 4.4 Technology factors: The technology of television and internet which affects companies advertising, marketing and promotional programs. Media advertise product attractively it helps to increase sales of the product. Introduction of plastic bottles and cans have increased the sales of coca cola. It is easy to use and bin them. The advancement in technology led to company crate new product like cherry cock in 1985 but consumer prefers original test of coca cola so that some time technology can affect badly. Coca Cola Company introduces new technology all the time because of introduction of new machine company ¿Ã‚ ½s production level increase tremendously. Ardagh glass is the latest technological achievement by Coke Company which is environmentally friendly bottle. It has won several awards for its light weight. 4.5 Environmental factors: Coca cola focused on energy management, water stewardship and climate protection. The company made progress in these areas but company has lot of things to do. In 2007, company used approximately 300 billion liters of water to produce beverage coke is among the world ¿Ã‚ ½s largest purchasers of fructose corn syrup, sugar, coffee, citrus. It has largest consumers of cans and bottles. At the same time company announced to return to communities and nature. An amount of water equal how much company used to produce their beverage. Now company has three objective 1. Recycle the water so it can be return safely to the environment. 2. Reduce the water consumption level in manufacturing process. 3. Refill the water in communities through a global network of local partnership. While the coca cola come up with advance recycling programs company decides through education they can prevent Littre. Company support keep Australia beautiful in Australia, keep America beautiful in USA and tidy Britain group in Britain. Weather and changes in temperature can affect many industries such as coke. Company also invested on fashionable outfits which are made by recycle polyethylene terephthalate bottles. 4.6 Legal factors: Laws, political changes affect firm ¿Ã‚ ½s behaviour. An increase in the minimum wages of labour and more requirements for firms can influence organisation productivity. Sometime change in laws also creates new opportunities for the company. There are some legal issue that Coca Cola Company had faced in recent years. In 1970 ¿Ã‚ ½s coca cola company refuse to share its formula to India therefore company stop to product locally for 16 years. EU member ¿Ã‚ ½s countries ban the coca cola due to the poisoning of 100 children in Belgium and cause seems to be wrong carbon dioxide which was used in coca cola. In 2003, non government organisation in India said coca cola contained toxins with lindane, and malathion that may caused breakdown of immune system and cancer. In India (kerala), the production of coke along with other soft drinks was banded. 5. Changes and Challenges: The non alcoholic industry is competitive. Company should carefully consider below factors which affect financial condition and its future result. Awareness may reduce demand of coke: Government officials and consumers are more concerned and aware about health. Many press reports indicate that lawyers and consumer advocates have threatened by company. Furthermore, misleading exercise related to contract to sell soft drink in school. Consumers are more aware about these issues and negative publicity in media may reduce the sales of carbonated beverage. Increase in competition: The non alcoholic beverage industry is highly competitive. Coke have to compete with international companies as we as local companies where it function. In many countries where coke operates including USA, Pepsi is a primary competitor in the market. Coke ¿Ã‚ ½s capability to maintain the sales of share or get profit in the global market or various local markets may be limited because of competitors. Water scarcity and poor quality Water is main ingredient for Coca Cola Company. Many part of the world it is also limited resources. Company consume huge amount of water per year. Demand of water increase around the world and quality of available water decline this will increase the production cost of the company and affect on profit. Change in non alcoholic beverages business environment: The business of non alcoholic beverage has been changing because of Consumers life style, emerging views of health and nutrition, changing consumer needs and preferences, increase in similar products and price factor. Furthermore, the beverage industry is being affected by the intermediates, especially in USA and European countries. If Coca Cola Company is not able to change along with changing business environment it will effect on company ¿Ã‚ ½s profit and sales of share. Increasing in cost of energy: Coca cola Company ¿Ã‚ ½s bottling partners operates huge number of trucks and other vehicles as well as they use large quantity of electricity, gas and other energy sources to function the bottling company. Day by day price of fuel is increasing it will increase in the production cost of coca cola company. So it will affect the company ¿Ã‚ ½s profit. Weather condition: Weather influence the sales of the coca cola where company function. In summer more people prefer cold drinks such as juice and sprite however, in winter the demand of product decrease. Some part of world where most of month ¿Ã‚ ½s temperature is always high in those places consumption of coca cola is maximum. Change is important, long-lasting and disruptive Changes in company create some opportunities as well as challenges in new areas of business. Such as, lunch fresh product in the market, company might encounter with economic crisis and to change the direction of the organization. Change is continuous process to adjustment: Change in plans strategies and operations are important for company. Furthermore, sharing these changes to managers, supervisors and all level employees make able to them adjust properly to face the changing environment. Moreover, change is an essential phase in the business world mainly in technology. Use of technologies in coca Cola Company reduces the operation cost and increase the profit of the company. There are so many situations company need to change such as advancement in technology that is being used by other similar companies to compete with them company should adopt the technology. In 2007 coca cola modify their product due to people are more concern about health and fitness. Many people are investing more money in their health in order to cope with that trend coke lunch their new product named Enviga, which is calories burning drink. In addition, Coca Cola Company is ties up with Nestle. Both companies are dealing with invation and change. In same year, company change in organisational structure to fulfil the demand and need of the consumers through assimilating with North American can, bottle and juice company. 6. Conclusion: The coca Cola Company keep on refresh everybody its touches. The product of company has multiply to approach of cultural gratitude and understand, this is main key factor that company introduce its product worldwide. Company entry and development in international market will be faster. Coke ¿Ã‚ ½s commitment to remain at changing environment proved that they are the superior among other non alcoholic product. Awareness of environmental issues and health care might impact on the sales of the company however; creative idea and strategy help to grow the business. Coke has developed the entire vital component to expand their business in long term. 7. Recommendation Reward system is an effective technique to motive employee in changing environment of the organisation. Coca Cola Company should apply reward system to its employees so that it will increase in productive and sales. Reward system can be financial or non financial nevertheless, company have to give fair importance to all level employees. Reward system of coke must be functional to make employees devoted to organizational goals. In addition, Training and development programme must be use to groom career of their employees at top to bottom level. Coca Cola Company has to declare some amount of money for training and development purpose. Monthly training session raise the productivity of the organization. Relationship with consumer is vital for Coke Company in some country where Business is controlled by the authorities, in those countries there is a lack of consumer relationship which need to improve. Coke need to market segmentation in new country where company is planning to introduce the product because consumer ¿Ã‚ ½s need, test is different from another country. By doing market segmentation company can serve effectively to its consumers. Demographic factor should be considered by Coca Cola Company. Culture, tradition and characteristics of consumer in new country might be different; it gives information to the company to change certain plans. There are some factors such as climate, test and culture Affect Company directly or indirectly so individual company need to apply their own strategic and management style to increase the sales of coca cola.  ¿Ã‚ ½Dividing a market in to direct groups of buyers who might require separate marketing mixes; the process of classifying consu mers into groups with different needs, characteristics and behaviour ¿Ã‚ ½ (Kotler, 2001). Ref. Sheikh, s.2006 Business environment press sanat printers New Delhi By TR Jain, Mukesh Trehan, Ranju Trehan 2009 business environment(http://books.google.com/books?id=AgWNmP4blhoCpg=PA21dq=what+is+business+environmenthl=enei=WRdcTM-lKIi74gaos5HwAQsa=Xoi=book_resultct=resultresnum=3ved=0CD0Q6AEwAjgK#v=onepageqf=false Kotler, P. and Armstrong, G. (2001). Principles of Marketing (9th Ed.). Prentice-Hall India Kotler, 2001 p. 46). http://www.thecoca-colacompany.com/investors/pdfs/10-K_2005/Coca-Cola_10-K_Item_01ab.pdf By TR Jain, Mukesh Trehan, Ranju Trehan 2009 business environment(http://books.google.com/books?id=AgWNmP4blhoCpg=PA21dq=what+is+business+environmenthl=enei=WRdcTM-lKIi74gaos5HwAQsa=Xoi=book_resultct=resultresnum=3ved=0CD0Q6AEwAjgK#v=onepageqf=false http://www.chinadaily.com.cn/business/2009-07/13/content_8420666.htm

Death by Highlighter :: Graduate College Admissions Essays

Death by Highlighter I woke up Tuesday morning with a strange sense that I was not alone in bed. Something was jabbing me in the left hip. I opened one eye tentatively. It was 8:47 a.m., and I did not want to be awake. I investigated the source of the jabbing feeling to discover, to my horror, a florescent yellow, uncapped highlighter that I had let slip after falling asleep while reading a report on science and engineering at Duke. I shuddered, moved the higlighter to a more innocuous location on the floor, and went back to sleep. The perils of highlighters, however, extend well beyond my now-fluorescent-yellow sheets, nightgown and left hip. Having highlighted my way through three years of college, four years of high school and a few years of junior high, I have reached the shocking conclusion that highlighters have undermined my education. Before the days of transparent yellow markers, readers took notes on reading, or wrote in ball-point pen in the margins, forcing themselves to transmit information from words on a page to coherent thought to at least somewhat coherent squiggles on the page. The highlighter offers a seductive shortcut--the reader can bypass the "coherent thought to squiggle" step of the process and simply smear interesting passages with fluorescent ink, no analysis required. Particularly impressive phrases may merit an emphatic mark in the margin, and, on rare occasions, the holder of the fluorescent wand may even add a note in blue or black ink. Regardless, however, the marker-wielding reader generally smears large tracts of text with ink, never bothering to summarize or paraphrase information. I know the pathological symptoms of highlighter-addiction because I am a victim. I shouldn't have turned out this way--I had a strictly traditional fifth-grade history teacher who required us to take notes on our reading in outline form. But something happened in high school, I think in European History, when I realized I could never write down every iota of information in our menacingly dense text book--so I grabbed hold of a highlighter and started marking interesting facts in bright yellow. I meant to make notes in the margins, but there wasn't time . . . and so I launched myself down the highlighter path to mental oblivion. Highlighters should shoulder at least as much of the blame as MTV for Generation X's short attention span and anti-intellectual leanings. Death by Highlighter :: Graduate College Admissions Essays Death by Highlighter I woke up Tuesday morning with a strange sense that I was not alone in bed. Something was jabbing me in the left hip. I opened one eye tentatively. It was 8:47 a.m., and I did not want to be awake. I investigated the source of the jabbing feeling to discover, to my horror, a florescent yellow, uncapped highlighter that I had let slip after falling asleep while reading a report on science and engineering at Duke. I shuddered, moved the higlighter to a more innocuous location on the floor, and went back to sleep. The perils of highlighters, however, extend well beyond my now-fluorescent-yellow sheets, nightgown and left hip. Having highlighted my way through three years of college, four years of high school and a few years of junior high, I have reached the shocking conclusion that highlighters have undermined my education. Before the days of transparent yellow markers, readers took notes on reading, or wrote in ball-point pen in the margins, forcing themselves to transmit information from words on a page to coherent thought to at least somewhat coherent squiggles on the page. The highlighter offers a seductive shortcut--the reader can bypass the "coherent thought to squiggle" step of the process and simply smear interesting passages with fluorescent ink, no analysis required. Particularly impressive phrases may merit an emphatic mark in the margin, and, on rare occasions, the holder of the fluorescent wand may even add a note in blue or black ink. Regardless, however, the marker-wielding reader generally smears large tracts of text with ink, never bothering to summarize or paraphrase information. I know the pathological symptoms of highlighter-addiction because I am a victim. I shouldn't have turned out this way--I had a strictly traditional fifth-grade history teacher who required us to take notes on our reading in outline form. But something happened in high school, I think in European History, when I realized I could never write down every iota of information in our menacingly dense text book--so I grabbed hold of a highlighter and started marking interesting facts in bright yellow. I meant to make notes in the margins, but there wasn't time . . . and so I launched myself down the highlighter path to mental oblivion. Highlighters should shoulder at least as much of the blame as MTV for Generation X's short attention span and anti-intellectual leanings.

Transitions of the Scientific Revolution and the Enlightenment Periods

Transitions of the Scientific Revolution and the Enlightenment Periods The Scientific Revolution and the Enlightenment of the seventeenth and eighteenth centuries were times of great emphasis on reason and questioning of faith. The scientists and philosophes of these eras discovered and taught new ideas that often contradicted what the church and former thinkers had taught and believed before them. Most of the intellectual, political, economic, and social characteristics associated with the modern world came into being during the seventeenth and eighteenth centuries.1 During the Scientific Revolution, people began to question beliefs that they had always taken for granted. Scientists changed people's views of the world they lived in through discoveries such as the theory of the heliocentric universe. During the Enlightenment, philosophes challenged beliefs formerly held by the church and government by insisting that human reason would lead to the solution of all problems. They believed that man should live his life, make his own decisions, and believe w hat he wanted based on his own experiences and what he believed to be true. These two revolutions lead to a movement away from the church and faith, and towards a belief in more scientific and mathematical explanations for the way things worked. One of the aspects of the Scientific Revolution was the popularization of the belief in a sun-centered universe. Before this time, both Aristotle and Ptolemy supported the theory that the earth was the center of the universe and that the stars and planets revolved around it. Also, the realm of God was believed to lie just outside of this universe. This was known as the geocentric theory and the Catholic Church also strongly supported... ...s or herself. The former influence that faith and the church had on everyday life was questioned during these eras and a strong turning from former beliefs was widely evident as the thinkers of this time proposed new ideas on logic and reason. 1 Perry M. Rogers, ed. Aspects of Western Civilization: Problems and Sources in History (Upper Saddle River, N.J., Prentice Hall, 1998) 3. 2 Rogers. Aspects of Western Civilization 11. 3 Rogers. Aspects of Western Civilization 12. 4 Rogers. Aspects of Western Civilization 14. 5 Rogers. Aspects of Western Civilization 9. 6 Rogers. Aspects of Western Civilization 16. 7 Rogers. Aspects of Western Civilization 3. 8 Rogers. Aspects of Western Civilization 4. 9 Rogers. Aspects of Western Civilization 29. 10 Rogers. Aspects of Western Civilization 31. 11 Rogers. Aspects of Western Civilization 35.

“Financial Statement Analysis of Apple Inc.”

Company Background Apple Inc. and its wholly-owned subsidiaries (collectively â€Å"Apple† or the â€Å"Company†) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone  Ã‚ ®Ã‚  , iPad  Ã‚ ®Ã‚  , Mac  Ã‚ ®Ã‚  , iPod  Ã‚ ®Ã‚  , Apple TV  Ã‚ ®Ã‚  , a portfolio of consumer and professional software applications, the iOS and Mac OS  Ã‚ ®Ã‚  X operating systems, iCloud  Ã‚ ®Ã‚  , and a variety of accessory, service and support offerings.The Company also sells and delivers digital content and applications through the iTunes Store  Ã‚ ®Ã‚  , App Store  SM  , iBookstore  SM  , and Mac App Store. The Company sells its products worldwide through its retail stores, online stores, and direct sa les force, as well as through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. In addition, the Company sells a variety of third-party iPhone, iPad, Mac and iPod compatible products, including application software, printers, storage devices, speakers, headphones, and various other accessories and peripherals, through its online and retail stores.The Company sells to consumers, small and mid-sized businesses (â€Å"SMB†), and education, enterprise and government customers. The Company’s fiscal year is the 52 or 53-week period that ends on the last Saturday of September. Unless otherwise stated, all information presented in this Form 10-K is based on the Company’s fiscal calendar. The Company is a California corporation established in 1977. Business Strategy The Company is committed to bringing the best user experience to its customers through its innovative hardware, software, peripherals, and services.The Company’s business strategy leverages its unique ability to design and develop its own operating systems, hardware, application software, and services to provide its customers new products and solutions with superior ease-of-use, seamless integration, and innovative design. The Company believes continual investment in research and development and marketing and advertising is critical to the development and sale of innovative products and technologies. As part of its strategy, the Company continues to expand its platform for the discovery and delivery of hird-party digital content and applications through the iTunes Store. As part of the iTunes Store, the Company’s App Store and iBookstore allow customers to discover and download applications and books through either a Mac or Windows-based computer or through â€Å"iOS devices,† namely iPhone, iPad and iPod touch  Ã‚ ®Ã‚  . In January 2011, the Company opened the Mac App Store to allow customers to easily discover, download an d install applications for their Macs. The Company also supports a community for the development of third-party software and hardware products and digital content that complement the Company’s offerings.The Company’s strategy also includes expanding its distribution network to effectively reach more customers and provide them with a high-quality sales and post-sales support experience. Consumer and Small and Mid-Sized Business The Company believes a high-quality buying experience with knowledgeable salespersons who can convey the value of the Company’s products and services greatly enhances its ability to attract and retain customers. The Company sells many of its products and resells third-party products in most of its major markets directly to consumers and businesses through its retail and online stores.The Company has also invested in programs to enhance reseller sales by placing high quality Apple fixtures, merchandising materials and other resources within selected third-party reseller locations. Through the Apple Premium Reseller Program, certain third-party resellers focus on the Apple platform by providing a high level of product expertise, integration and support services. The Company’s retail stores are typically located at high-traffic locations in quality shopping malls and urban shopping districts.By operating its own stores and locating them in desirable high-traffic locations, the Company is better positioned to ensure a high quality customer buying experience and attract new customers. The stores are designed to simplify and enhance the presentation and marketing of the Company’s products and related solutions. To that end, retail store configurations have evolved into various sizes to accommodate market-specific demands. The Company believes providing direct contact with its customers is an effective way to demonstrate the advantages of its products over those of its competitors.The stores employ experienced and knowledgeable personnel who provide product advice, service and training. The stores offer a wide selection of third-party hardware, software, and other accessories and peripherals that complement the Company’s products. Enterprise and Government The Company also sells its hardware and software products to enterprise and government customers in each of its geographic segments. The Company’s products are deployed in these markets because of their power, productivity, ease of use and the simplicity of seamless integration into information technology environments.The Company’s products are compatible with thousands of third-party business applications and services, and its tools enable the development and secure deployment of custom applications as well as remote device administration. Business Organization The Company manages its business primarily on a geographic basis. Accordingly, the Company has determined that its reportable operating segments, which are generally based on the nature and location of its customers, consist of the Americas, Europe, Japan, Asia-Pacific and Retail.The results of the Americas, Europe, Japan and Asia-Pacific reportable segments do not include the results of the Retail segment. The Americas segment includes both North and South America. The Europe segment includes European countries, as well as the Middle East and Africa. The Asia-Pacific segment includes Australia and Asian countries, other than Japan. The Retail segment operates Apple retail stores worldwide. Each reportable operating segment provides similar hardware and software products and similar services.Further information regarding the Company’s operating segments may be found in Part II, Item  7 of this Form 10-K under the subheading â€Å"Segment Operating Performance,† and in Part II, Item  8 of this Form 10-K in Notes to Consolidated Financial Statements in Note 8, â€Å"Segment Information and Geographic Data. † Pro ducts The Company offers a range of mobile communication and media devices, personal computing products, and portable digital music players, as well as a variety of related software, services, peripherals, networking solutions and third-party hardware and software products. In addition, the Company ffers its own software products, including iOS, the Company’s proprietary mobile operating system; Mac OS X, the Company’s proprietary operating system software for the Mac; server software and application software for consumer, SMB, and education, enterprise and government customers. The Company’s primary products are discussed below. iPhone iPhone combines a mobile phone, an iPod, and an Internet communications device in a single handheld product. Based on the Company’s Multi-Touchâ„ ¢ user interface, iPhone features  desktop-class email, web browsing, searching, and maps and is compatible with both Macs and Windows-based computers. Phone automatically s yncs content from users’ iTunes libraries, as well as contacts, bookmarks, and email accounts. iPhone allows customers to access the iTunes Store to download audio and video files, as well as a variety of other digital content and applications. In October 2011, the Company launched iPhone 4S, its latest version of iPhone, which includes Siriâ„ ¢, a voice activated intelligent assistant. In addition to the Company’s own iPhone accessories, third-party iPhone compatible accessories are available through the Company’s online and retail stores and from third parties. Pad iPad is a multi-purpose mobile device for browsing the web, reading and sending email, viewing photos, watching videos, listening to music, playing games, reading e-books and more. iPad is based on the Company’s Multi-Touch technology and allows customers to connect with their applications and content in a more interactive way. iPad allows customers to access the iTunes Store to download a udio and video files, as well as a variety of other digital content and applications. In March 2011, the Company introduced iPad 2, its second-generation iPad.In addition to the Company’s own iPad accessories, third-party iPad compatible accessories are available through the Company’s online and retail stores and from third parties. Mac Hardware Products The Company offers a range of personal computing products including desktop and portable computers, related devices and peripherals, and third-party hardware products. The Company’s Mac desktop and portable systems feature Intel microprocessors, the Mac OS X Lion operating system and the iLife  Ã‚ ®Ã‚  suite of software for creation and management of digital photography, music, movies, DVDs and websites.The Company’s desktop computers include iMac   Mac Pro and Mac mini. The iMac desktop computer has an all-in-one design that incorporates a display, processor, graphics card, storage, memory and other components inside a single enclosure. The Mac Pro desktop computer is targeted at business and professional customers and is designed to meet the performance, expansion, and networking needs of the most demanding Mac user. The Mac mini is a desktop computer in a compact enclosure. . iPodThe Company’s iPod line of portable digital music and media players includes iPod touch, iPod nano  Ã‚ ®Ã‚  , iPod shuffle  Ã‚ ®Ã‚  and iPod classic  Ã‚ ®Ã‚  . All iPods work with iTunes. In addition to the Company’s own iPod accessories, third-party iPod compatible accessories are available, through the Company’s online and retail stores or from third parties. The iPod touch, based on iOS, is a flash-memory-based iPod with a widescreen display and a Multi-Touch user interface. iPod touch allows customers to access the iTunes Store to download audio and video content, as well as a variety of digital applications.The iPod nano is a flash-memory-based iPod that features the C ompany’s Multi-Touch interface allowing customers to navigate their music collection by tapping or swiping the display. The iPod nano features a polished aluminum and glass enclosure with a built-in clip. The iPod shuffle is a flash-memory-based iPod that features a clickable control pad to control music playback and VoiceOver technology enabling customers to hear song titles, artists and playlist names. The iPod classic is a hard-drive based portable digital music and video player. iTunes  Ã‚ ® Tunes is an application that supports the purchase, download, organization and playback of digital audio and video files and is available for both Mac and Windows-based computers. iTunes 10 is the latest version of iTunes and features AirPlay  Ã‚ ®Ã‚  wireless music playback, Genius Mixes, Home Sharing, and improved syncing functionality with iOS devices. Mac App Store In January 2011, the Company opened the Mac App Store allowing customers to discover, download and install applic ations for their Macs. The Mac App Store offers applications in education, games, graphics and design, lifestyle, productivity, utilities and other categories.The Company’s Mac OS X operating system software and iLife and iWork  Ã‚ ®Ã‚  application software are also available on the Mac App Store. iCloud In October 2011, the Company launched iCloud, its new cloud service, which stores music, photos, applications, contacts, calendars, and documents and wirelessly pushes them to multiple iOS devices, Macs and Windows-based computers. iCloud’s features include iTunes in the Cloud, Photo Stream, Documents in the Cloud, Contacts, Calendar, Mail,  automatic downloads and purchase history for applications and iBooks, and iCloud Backup.Users can sign up for free access to iCloud using a device running iOS 5 or a Mac running Mac OS X Lion. Software Products and Computer Technologies The Company offers a range of software products for consumer, SMB, education, enterprise and government customers, including the Company’s proprietary iOS and Mac OS X operating system software; server software; professional application software; and consumer, education, and business oriented application software. Operating System Software iOS OS is the Company’s mobile operating system that serves as the foundation for iOS devices. In October 2011, the Company released iOS 5, which supports iCloud and includes new features such as Notification Center, a way to view and manage notifications in one place; iMessageâ„ ¢, a messaging service that allows users to send text messages, photos and videos between iOS devices; and Newsstand, a way to purchase and organize newspaper and magazine subscriptions. Mac OS X Mac OS X, the operating system for Macs, is built on an open-source UNIX-based foundation.Mac OS X Lion is the eighth major release of Mac OS X and became available in July 2011. Mac OS X Lion includes support for new Multi-Touch gestures; iCloud integr ation; system-wide support for full screen applications; Mission Controlâ„ ¢, a way to view everything running on a user’s Mac; the Mac App Store; Launchpadâ„ ¢, a new home for a user’s applications; and a redesigned Mail application. Application Software iLife iLife ’11 is the latest version of the Company’s consumer-oriented digital lifestyle application suite included with all Mac computers. Life features iPhoto  Ã‚ ®Ã‚  , iMovie  Ã‚ ®Ã‚  , iDVD  Ã‚ ®Ã‚  , GarageBand  Ã‚ ®Ã‚  , and iWebâ„ ¢. iPhoto is the Company’s consumer-oriented digital photo application and iMovie is the Company’s consumer-oriented digital video editing software application. iDVD is the Company’s consumer-oriented software application that enables customers to turn iMovie files, QuickTime files, and digital pictures into interactive DVDs. GarageBand is the Company’s consumer-oriented music creation application that allows customers to p lay, record and create music. Web allows customers to create online photo albums, blogs and podcasts, and to customize websites using editing tools. iWork iWork ’09 is the latest version of the Company’s integrated productivity suite designed to help users create, present, and publish documents, presentations, and spreadsheets. iWork ’09 includes Pages  Ã‚ ®Ã‚  Ã¢â‚¬â„¢09 for word processing and page layout, Keynote  Ã‚ ®Ã‚  Ã¢â‚¬â„¢09 for presentations, and Numbers  Ã‚ ®Ã‚  Ã¢â‚¬â„¢09 for spreadsheets. The Company also has a Multi-Touch version of each iWork application designed specifically for use on iOS devices. Other Application SoftwareThe Company also sells various other application software, including Final Cut Pro  Ã‚ ®Ã‚  , Logic Studio  Ã‚ ®Ã‚  ,  Logic  Ã‚ ®Ã‚  Express 9, Logic Studio  Ã‚ ®Ã‚  Pro, and its FileMaker  Ã‚ ®Ã‚  Pro database software. Displays  & Peripheral Products The Company manufactures the Apple LED Cinema Displa yâ„ ¢ and Thunderbolt Display. The Company also sells a variety of Apple-branded and third-party Mac-compatible and iOS-compatible peripheral products, including printers, storage devices, computer memory, digital video and still cameras, and various other computing products and supplies.Apple TV Apple TV allows customers to watch movies and television shows on their high definition television. Content from iTunes, Netflix, YouTube, and Flickr as well as music, photos, videos, and podcasts from a Mac or Windows-based computer can also be wirelessly streamed to a television through Apple TV. With the release of iCloud in October 2011, content purchased on Apple TV can be re-downloaded on iOS devices. Product Support and Services AppleCare  Ã‚ ®Ã‚  offers a range of support options for the Company’s customers.These options include assistance that is built into software products, printed and electronic product manuals, online support including comprehensive product informat ion as well as technical assistance, and the AppleCare Protection Plan (â€Å"APP†). APP is a fee-based service that typically includes two to three years of phone support and hardware repairs and dedicated web-based support resources. Markets and Distribution The Company’s customers are primarily in the consumer, SMB, and education, enterprise and government markets.The Company uses a variety of direct and indirect distribution channels, such as its retail stores, online stores, and direct sales force, and third-party cellular network carriers, wholesalers, retailers, and value-added resellers. The Company believes that sales of its innovative and differentiated products are enhanced by knowledgeable salespersons who can convey the value of the hardware and software integration, and demonstrate the unique solutions that are available on its products.The Company further believes providing direct contact with its targeted customers is an effective way to demonstrate the advantages of its products over those of its competitors and providing a high-quality sales and after-sales support experience is critical to attracting new and retaining existing customers. To ensure a high-quality buying experience for its products in which service and education are emphasized, the Company continues to expand and improve its distribution capabilities by expanding the number of its own retail stores worldwide.Additionally, the Company has invested in programs to enhance reseller sales by placing high quality Apple fixtures, merchandising materials and other resources within selected third-party reseller locations. Through the Apple Premium Reseller Program, certain third-party resellers focus on the Apple platform by providing a high level of integration and support services, and product expertise. No single customer accounted for more than 10% of net sales in 2011 or 2010. One of the Company’s customers accounted for 11% of net sales in 2009. CompetitionTh e markets for the Company’s products and services are highly competitive and the Company is confronted by aggressive competition in all areas of its business. These markets are characterized by frequent product introductions and rapid technological advances that have substantially increased the capabilities and use of mobile communication and media devices, personal computers, and other digital electronic devices. The Company’s competitors who sell mobile devices and personal computers based on other operating systems have aggressively cut prices and lowered their product margins to gain or maintain market share.The Company’s financial condition and operating results can be adversely affected by these and other industry-wide downward pressures on gross margins. Principal competitive factors important to the Company include price, product features, relative price/performance, product quality and reliability, design innovation, a strong third-party software and pe ripherals ecosystem, marketing and distribution capability, service and support, and corporate reputation.The Company is focused on expanding its market opportunities related to mobile communication and media devices. These industries are highly competitive and include several large, well-funded and experienced participants. The Company expects competition in these industries to intensify significantly as competitors attempt to imitate some of the features of the Company’s products and applications within their own products or, alternatively, collaborate with each other to offer solutions that are more competitive than those they currently offer.These industries are characterized by aggressive pricing practices, frequent product introductions, evolving design approaches and technologies, rapid adoption of technological and product advancements by competitors, and price sensitivity on the part of consumers and businesses. The Company’s digital content services have face d significant competition from other companies promoting their own digital music and content products and services, including those offering free peer-to-peer music and video services.The Company believes it offers superior innovation and integration of the entire solution including the hardware (iPhone, iPad, Mac, and iPod), software (iTunes), and distribution of digital content and applications (iTunes Store, App Store, iBookstore and Mac App Store). Some of the Company’s current and potential competitors have substantial resources and may be able to provide such products and services at little or no profit or even at a loss to compete with the Company’s offerings.The Company’s future financial condition and operating results depend on the Company’s ability to continue to develop and offer new innovative products and services in each of the markets it competes in. Research and Development Because the industries in which the Company competes are characte rized by rapid technological advances, the Company’s ability to compete successfully depends heavily upon its ability to ensure a continual and timely flow of competitive products, services and technologies to the marketplace.The Company continues to develop new technologies to enhance existing products and to expand the range of its product offerings through research and development, licensing of intellectual property and acquisition of third-party businesses and technology. Total research and development expense was $2. 4 billion, $1. 8 billion and $1. 3 billion in 2011, 2010 and 2009, respectively. Patents, Trademarks, Copyrights and Licenses The Company currently holds rights to patents and copyrights relating to certain aspects of its iPhone, iPad, Mac and iPod devices, peripherals, software and services.The Company has registered or has applied for trademarks and service marks in the U. S. and a number of foreign countries. Although the Company believes the ownership of such patents, copyrights, trademarks and service marks is an important factor in its business and that its success does depend in part on the ownership thereof, the Company relies primarily on the innovative skills, technical competence and marketing abilities of its personnel. The Company regularly files patent applications to protect inventions arising from its research and development, and is currently pursuing thousands of patent applications around the world.Over time, the Company has accumulated a large portfolio of issued patents in the U. S. and worldwide. The Company holds copyrights relating to certain aspects of its products and services. No single patent or copyright is solely responsible for protecting the Company’s products. The Company believes the duration of its patents is adequate relative to the expected lives of its products. Due to the fast pace of innovation and product development, the Company’s products are often obsolete before the patents rel ated to them expire, and sometimes are obsolete before the patents related to them are even granted.Many of the Company’s products are designed to include intellectual property obtained from third parties. While it may be necessary in the future to seek or renew licenses relating to various aspects of its products and business methods, based upon past experience and industry practice, the Company believes such licenses generally could be obtained on commercially reasonable terms; however, there is no guarantee that such licenses could be obtained at all.Because of technological changes in the industries in which the Company competes, current extensive patent coverage, and the rapid rate of issuance of new patents, it is possible that certain components of the Company’s products and business methods may unknowingly infringe existing patents or intellectual property rights of others. From time to time, the Company has been notified that it may be infringing certain paten ts or other intellectual property rights of third parties. Foreign and Domestic Operations and Geographic Data The U. S. epresents the Company’s largest geographic market. Approximately 39% of the Company’s net sales in 2011 came from sales to customers inside the U. S. Final assembly of the Company’s products is currently performed in the Company’s manufacturing facility in Ireland, and by outsourcing partners, primarily located in Asia. The supply and manufacture of a number of components is performed by sole-sourced outsourcing partners in the U. S. , Asia and Europe. Single-sourced outsourcing partners in Asia perform final assembly of substantially all of the Company’s hardware products.Margins on sales of the Company’s products in foreign countries, and on sales of products that include components obtained from foreign suppliers, can be adversely affected by foreign currency exchange rate fluctuations and by international trade regulat ions, including tariffs and antidumping penalties. Information regarding financial data by geographic segment is set forth in Part II, Item  7 and Item  8 of this Form 10-K and in Notes to Consolidated Financial Statements in Note 8, â€Å"Segment Information and Geographic Data. † Seasonal BusinessThe Company has historically experienced increased net sales in its first fiscal quarter compared to other quarters in its fiscal year due to increased holiday seasonal demand. This historical pattern should not be considered a reliable indicator of the Company’s future net sales or financial performance. Warranty The Company offers a limited parts and labor warranty on most of its hardware products. The basic warranty period is typically one year from the date of purchase by the original end-user. The Company also offers a 90-day basic warranty for its service parts used to repair the Company’s hardware products.In addition, consumers may purchase the APP, which extends service coverage on many of the Company’s hardware products in most of its major markets. Employees As of September  24, 2011, the Company had approximately 60,400 full-time equivalent employees and an additional 2,900 full-time equivalent temporary employees and contractors. APPLE INC. (Exact name of registrant as specified in its charter) Ratio Analysis | 2008| 2009| 2010| 2011| | Liquidity Ratios| a. Current Ratio:A liquidity ratio that measures a company's ability to pay short-term obligations. The Current Ratio formula is:Also known as â€Å"liquidity ratio†, â€Å"cash asset ratio† and â€Å"cash ratio†. | Current Asset/Current Liability| 32311/14092| 36265/19282| 41678/20722| 44988/27970| | 2. 293| 1. 881| 2. 011| 1. 609| industry average| 2. 00| 1. 8| 2. 1| 1. 5| Current Ratio Comparisons :Ratio is stronger than the industry average. | | b. Acid Test Ratio:A stringent indicator that determines whether a firm has enough short-term assets to cover its immediate liabilities without selling inventory. The acid-test ratio is far more strenuous than the working capital ratio, primarily because the working capital ratio allows for the inclusion of inventory assets.Calculated by: | (Current Asset- Average inventory)/Current Liability| (32311-509)/14092| (36265-482)/19282| (41678-753)/20722| (44988-913. 5)/27970| | 2. 257| 1. 86| 1. 961| 1. 581| industry average| 2. 20| 1. 80| 2. 00| 1. 50| Acid Test Ratio Comparisons :Ratio is weaker than the industry average in first 3 years but stringer at last year. | | Summary of the Liquidity Ratio Comparisons * Strong current ratio and weak acid-test ratio indicates a potential problem in the inventories account. * Note that this industry has a relatively high level of inventories. | Financial Leverage Ratios| a.Debt to equity:A measure of a company's financial leverage calculated by dividing its total liabilities by stockholders' equity. It indicates what proportion of equity and de bt the company is using to finance its assets. Note: Sometimes only interest-bearing, long-term debt is used instead of total liabilities in the calculation. Also known as the Personal Debt/Equity Ratio, this ratio can be applied to personal financial statements as well as corporate ones. | Total debt/Shareholders ‘ Equity| 18542/21030| 26019/27832| 27392/47791| 39756/76615| | 0. 882| 0. 935| 0. 573| 0. 519| industry average| . 89| . 95| . 5| . 50| Debt to equity Ratio Comparisons :Has average debt utilization relative to the industry average. | | b. Debt to total asset:A metric used to measure a company's financial risk by determining how much of the company's assets have been financed by debt. Calculated by adding short-term and long-term debt and then dividing by the company's total assets. | Total debt/Total asset| 18542/39572| 26019/53851| 27392/75183| 39756/116371| | 0. 469| 0. 483| 0. 364| 0. 342| industry average| . 45| . 50| . 35| . 35| Debt to total asset Ratio Compa risons :Has average debt utilization relative to the industry average. | c. Total Capitalization:The capitalization ratio measures the debt component of a company's  capital structure, or capitalization (i. e. , the sum of long-term debt  liabilities  and  shareholders' equity) to support a company's operations and growth. | | | | Debt/capitalization| 18542/25480| 26019/34569| 27392/54461| 39756/88401| | . 73| . 75| . 50| . 45| industry average| . 75| . 75| . 50| . 45| Total Capitalization Ratio Comparisons :Has average long-term debt utilization relative to the industry average. | | Coverage Ratios| a. Interest Coverage:A ratio used to determine how easily a company can ay interest on outstanding debt. The interest coverage ratio is calculated by dividing a company's earnings before interest and taxes (EBIT) of one period by the company's interest expenses of the same period: | EBIT/Interest charges| 6895/2242| 7984/2360| 18540| 34205| | 3. 075| 3. 383| -| -| industry avera ge| 3. 2| 3. 5| -| -| Interest Coverage Ratio Comparisons :Has below average interest coverage relative to the industry average. | | Summary of the Coverage Trend Analysis * The interest coverage ratio for Apple Inc. has been falling since 2008. It has been below industry averages for the past two years. This indicates that low earnings (EBIT) may be a potential problem for BW. * Note, we know that debt levels are in line with the industry averages. | Activity ratios| a. Receivable Turnover:An accounting measure used to quantify a firm's effectiveness in extending credit as well as collecting debts. The receivables turnover ratio is an activity ratio, measuring how efficiently a firm uses its assets. Formula: Some companies' reports will only show sales – this can affect the ratio depending on the size of cash sales. | Annual net credit sales/ Average receivables| 32497/2422| 36537/3361| 65225/5510| 108249/5369| | 13. 17| 10. 871| 11. 838| 20. 162| industry average| 15| 10| 1 3| 20| Receivable Turnover Ratio Comparisons :Ratio is stronger than the industry average. | | b. Average collection period:The approximate amount of time that it takes for a business to receive payments owed, in terms of receivables, from its customers and clients. Calculated as: Where: Days = Total amount of days in period AR = Average amount of accounts receivables Credit Sales = Total amount of net credit sales during period| Days in year/receiveable turnover| 365/13. 417| 365/10. 871| 365/11. 838| 365/20. 62| | 27. 204| 33. 576| 30. 833| 18. 103| industry average| 25| 36| 30| 20| Average collection period Ratio Comparisons :Has improved the average collection period to that of the industry average. | | c. Inventory turnover:A ratio showing how many times a company's inventory is sold and replaced over a period. The days in the period can then be divided by the inventory turnover formula to calculate the days it takes to sell the inventory on hand or â€Å"inventory turnover da ys. † | Cost of goods sold/Average inventory| 21334/509| 25683/482| 39541/753| 64431/913. 5| | 41. 914| 53. 8| 52. 51| 70. 53| industry average| 42| 53| 53| 70| Inventory turnover Ratio Comparisons :Has relatively good turnover. | | d. Total asset turnover:The amount of sales generated for every dollar's worth of assets. It is calculated by dividing sales in dollars by assets in dollars. Formula: This ratio is more useful for growth companies to check if in fact they are growing revenue in proportion to sales. Also known as the Asset Turnover Ratio. | Net sales/ total asset| 32479/39571| 42905/53851| 65225/75183| 108249/116371| | . 821| . 797| . 868| . 930| industry average| . 2| . 80| . 85| . 90| Total asset turnover Ratio Comparisons :Has relatively strong turnover. | | Profitability Ratios| a. Net profit margin:A ratio of profitability calculated as net income divided by revenues, or net profits divided by sales. It measures how much out of every dollar of sales a company a ctually keeps in earnings. | Net profit after tax/Net sales| 4834/32479| 8235/42905| 14013/65225| 25922/108249| | . 149| . 192| . 215| . 239| industry average| . 15| . 20| . 20| . 24| Net profit margin Ratio Comparisons :Has average Net Profit Margin. | | b.Return on investment:  Ã¢â‚¬Å"Return on investment(ROI)  rate of return  (ROR), also known as ‘rate of profit' or sometimes just ‘return', is the ratio ofmoney  gained or lost (whether realized or unrealized) on an  investment  relative to the amount of money invested. Similar financial measures with variations on how ‘investment' is defined: * Return on assets  (ROA), * Return on net assets  (RONA), * Return on capital employed  (ROCE) * Return on invested capital  (ROIC) * Social return on investment  (SROI)| NPAT/Total asset| 4834/39572| 8235/53851| 14013/75183| 25922/116371| | . 122| . 153| . 87| . 223| industry average| . 125| . 15| . 18| . 20| Return on investment Ratio Comparisons :H as strong Return on Investment. | | c. Return on equity:The amount of net income returned as a percentage of shareholders equity. Return on equity measures a corporation's profitability by revealing how much profit a company generates with the money shareholders have invested. ROE is expressed as a percentage and calculated as: Return on Equity = Net Income/Shareholder's Equity Net income is for the full fiscal year (before dividends paid to common stock holders but after dividends to preferred stock. Shareholder's equity does not include preferred shares. Also known as â€Å"return on net worth† (RONW). | NPAT/Shareholders equity| 25922/21030| 8235/27832| 14013/477931| 25922/76615| | . 229| . 296| . 293| . 338| industry average| . 23| . 29| . 29| . 350| Return on equity Ratio Comparisons :Has average Return on equity. | | Summary of the Profitability Trend Analyses * The profitability ratios for Apple Inc. have ALL been average since 2008. Each has been below the industry av erages for the past four years. * This indicates that COGS and administrative costs may both be too high and a potential problem for Apple Inc. Note, this result is consistent with the low interest coverage ratio. | Summary of Ratio Analyses * Inventories are too high. * May be paying off creditors (accounts payable) too soon. * COGS may be too high. * Selling, general, and administrative costs may be too high. | Common Size Analysis- Particulars| 2008| 2009| 2010| 2011| | 2008| 2009| 2010| 2011| Assets| | | | | | | | | | Current assets:| | | | | | | | | | Cash ; cash equivalents| 11875| 5263| 11261| 9815| | 30. 01| 9. 77| 14. 98| 8. 43| Short term marketable securities| 10236| 18201| 14359| 16137| | 25. 87| 33. 80| 19. 10| 13. 7| A/R| 2422| 3361| 5510| 5369| | 6. 12| 6. 24| 7. 33| 4. 61| Inventories| 509| 455| 1051| 776| | 1. 29| . 85| 1. 40| . 67| Differed tax assets| 1447| 2101| 1636| 2014| | 3. 66| 3. 90| 2. 18| 1. 73| Vendor non-trade receivables| -| -| 4414| 6348| | -| -| 5. 8 7| 5. 46| Other current assets| 5822| 6884| 3447| 4529| | 14. 71| 12. 78| 4. 59| 3. 89| Total current assets| 32311| 36265| 41678| 44988| | 81. 04| 67. 34| 55. 435| 38. 659| Long-term marketable securities| 2379| 10528| 5391| 55618| | 6. 01| 19. 55| 7. 171| 47. 794| Property, plant and equipment, net| 2455| 2954| 4786| 7777| | 6. 20| 5. 486| 6. 336| 6. 83| Goodwill| 207| 206| 741| 896| | . 52| . 383| . 986| . 769| Acquired intangible assets, net| 285| 247| 342| 3536| | . 72| . 495| . 455| 3. 039| Other assets| 1935| 3651| 2263| 3556| | 4. 890| 6. 780| 3. 010| 3. 056| Total assets| 39572| 53851| 75183| 116371| | 100| 100| 100| 100| | | | | | | | | | | LIABILITIES AND SHAREHOLDERS’ EQUITY:| | | | | | | | | | Current liabilities:| | | | | | | | | | Accounts payable| 5520| 5601| 12015| 14632| | 13. 942| 10. 401| 15. 981| 12. 574| Accrued expenses| 3719| 3376| 5723| 9247| | 9. 398| 6. 269| 7. 612| 7. 946| Deferred revenue| 4853| 10305| 2984| 4091| | 12. 64| 19. 136| 3. 969| 3. 516 | Total current liabilities| 14092| 19282| 20722| 27970| | 35. 611| 35. 806| 27. 562| 24. 035| Deferred revenue – non-current| 3029| 4485| 1139| 1686| | 7. 654| 8. 329| 1. 515| 1. 449| Other non-current liabilities| 1421| 2252| 5531| 10100| | 3. 591| 4. 182| 7. 357| 8. 679| Total liabilities| 18542| 26019| 27392| 39756| | 46. 856| 48. 317| 36. 434| 34. 163| Commitments and contingenciesShareholders’ equity:| | | | | | | | | | Common stock, no par value; 1,800,000 shares authorized; 929,277 and 915,970 shares issued and outstanding, respectively| 7177| 8210| 10668| 13331| | 18. 37| 15. 246| 14. 189| 11. 456| Retained earnings| 13845| 19538| 37169| 62841| | 34. 987| 36. 282| 49. 438| 54. 001| Accumulated other comprehensive income/(loss)|   Ã‚  8| 84| (46)| 443| | . 020| . 156| (. 061)| . 381| Total shareholders’ equity| 21030| 27832| 47791| 76615| | 53. 144| 51. 683| 63. 566| 65. 837| Total liabilities and shareholders’ equity| 39572| 53851| 75183| 11637 1| | 100| 100| 100| 100| Index Analysis- Particulars| 2008| 2009| 2010| 2011| | 2008| 2009| 2010| 2011| Assets| | | | | | | | | | Current assets:| | | | | | | | | | Cash ; cash equivalents| 11875| 5263| 11261| 9815| | 100| 14. 13| 27. 019| 21. 897| Short term marketable securities| 10236| 18201| 14359| 16137| | 100| 39. 204| 34. 452| 35. 870| A/R| 2422| 3361| 5510| 5369| | 100| 9. 27| 13. 221| 11. 934| Inventories| 509| 455| 1051| 776| | 100| 1. 26| 2. 522| 1. 752| Differed tax assets| 1447| 2101| 1636| 2014| | 100| 5. 79| 3. 925| 4. 477| Vendor non-trade receivables| -| -| 4414| 6348| | -| -| 10. 591| 14. 111| Other current assets| 5822| 6884| 3447| 4529| | 100| 18. 983| 8. 271| 10. 067| Total current assets| 32311| 36265| 41678| 44988| | 100| 67. 34| 55. 435| 38. 59| Long-term marketable securities| 2379| 10528| 5391| 55618| | 100| 19. 55| 7. 171| 47. 794| Property, plant and equipment, net| 2455| 2954| 4786| 7777| | 100| 5. 486| 6. 336| 6. 683| Goodwill| 207| 206| 741| 896| | 100 | . 383| . 986| . 769| Acquired intangible assets, net| 285| 247| 342| 3536| | 100| . 495| . 455| 3. 039| Other assets| 1935| 3651| 2263| 3556| | 100| 6. 780| 3. 010| 3. 056| Total assets| 39572| 53851| 75183| 116371| | 100| 100| 100| 100| | | | | | | | | | | LIABILITIES AND SHAREHOLDERS’ EQUITY:| | | | | | | | | | Current liabilities:| | | | | | | | | |Accounts payable| 5520| 5601| 12015| 14632| | 100| 10. 401| 15. 981| 12. 574| Accrued expenses| 3719| 3376| 5723| 9247| | 100| 6. 269| 7. 612| 7. 946| Deferred revenue| 4853| 10305| 2984| 4091| | 100| 19. 136| 3. 969| 3. 516| Total current liabilities| 14092| 19282| 20722| 27970| | 100| 35. 806| 27. 562| 24. 035| Deferred revenue – non-current| 3029| 4485| 1139| 1686| | 100| 8. 329| 1. 515| 1. 449| Other non-current liabilities| 1421| 2252| 5531| 10100| | 100| 4. 182| 7. 357| 8. 679| Total liabilities| 18542| 26019| 27392| 39756| | 100| 48. 317| 36. 434| 34. 63| Commitments and contingenciesShareholders’ equity:| | | | | | | | | | Common stock, no par value; 1,800,000 shares authorized; 929,277 and 915,970 shares issued and outstanding, respectively| 7177| 8210| 10668| 13331| | 100| 15. 246| 14. 189| 11. 456| Retained earnings| 13845| 19538| 37169| 62841| | 100| 36. 282| 49. 438| 54. 001| Accumulated other comprehensive income/(loss)|   Ã‚  8| 84| (46)| 443| | 100| . 156| (. 061)| . 381| Total shareholders’ equity| 21030| 27832| 47791| 76615| | 100| 51. 683| 63. 566| 65. 837| Total liabilities and shareholders’ equity| 39572| 53851| 75183| 116371| | 100| 100| 100| 100|