It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. The aim of this research was to assess the impact of management practices on the financial performance of farm businesses in England. In addition, it sought to provide insight into the financial performance of the sector.
Farming does not seem to have issues with liquidity, and the level of indebtedness is low overall. However, low profitability is an issue, which is not necessarily due to cost control, but to falling revenue. Second, management practices, defined as planning, organising, leading and controlling, taking into account the environment to achieve organisational goals, was found to have positive effects on individual farm financial performance, both for all farm types as well as per farm type.
In particular, formal planning and benchmarking have positive, statistically significant effects. Highly performing farms in financial terms apply management practices more on the farm compared with the lowest 25 percentile of farm businesses. Firsts of all, I have analysed the last years company financial reports, management messages, press releases and investors presentations of Toyota. After this, I have analysed the same documents for three comparable companies Nissan ; finally I analysed some researches and articles about the industry in order to confirm my analyses and my conclusions about the companies and the industry.
The basic intention of this project is to create a comprehensive and well integrated business report that can present an accurate fundamental position of Toyota Motors to its shareholders and other internal and external stakeholders. In order to conduct the quantitative financial analysis, the published financial results were restated to highlight profitability, asset efficiency, gearing, and capital structure and liquidity performance. This is being a crucial step involved verification and determining validity, reliability, relevance and accuracy of the data to be used.
The source of collecting data is most important in regard to this. Taking into consideration the requirements of the research analysis project and the topic. Source of information Most of the data and information have been taken according to the disclosure published by the automotive companies in the investor relations section of their corporate website and in particular data disclosed in their annual reports and investor presentations. Method of Collecting Information and their limitations As mentioned, the reliability of information is a critical concern when conducting any research and this is even so the case when the research relies solely on secondary data collection process.
Even though I have tried my best to extract the most relevant and most reliable information, it is important to further focus on the potential limitations of the data collection process so that the users of this information are mindful of the limitations that can have on their decision making. Corporate Website: Even though the annual reports are considered, the most audited and reliable, information regarding the organization, a number of factors limit its use for conducting meaningful performance analysis. Firstly, belonging to the field of accounting myself, I understand strongly the impact of window dressing processes that could be done to 8.
This not only misdirects the business and financial performance analysis from the actual performance of the organization but also increases concerns regarding the ethics of the accounting processes in the organization. These factors are important elements of business performance and thus the published corporate information is limited in this aspect. Internet: Internet along with being an excellent source of all kinds of information is also limited because of its aspects. Firstly, the pool of information is so extensive that it becomes a challenge to extract the relevant information.
Secondly, Internet is known to provide misleading and conflicting information and thus reliability becomes an issue. EthicalIssues Professionals have to adhere to codes of professional ethics and conduct. We as accountants are trained to maintain the highest levels of professional ethics while collecting and analysing the data. On the basis of my professional training, I have incorporated the same principles in creating this performance analysis report.
For this, the sources that I have used are effectively referenced and I have tried to be extremely cautious of not misstating and misusing any information. Business techniques applied for research SWOT Analysis This analysis provides vital information for the company to make decisions regarding the available company resources, capabilities and its underlying competitive environment. SWOT analysis can be referred to corporate appraisal attributed to its evaluation of strengths and weaknesses, opportunities and threats in the context of a company.
SWOT analysis has a number of advantages which entails application neutrality because it is conducted with specific objectives, considering both internal and external factors impacting on the organization Hill and Westbrook, The advantages entail the following: 1. It provides opportunity analysis, competitive analysis and multi-level analysis essential for strategic planning and business and development processes. It integrates company data reports making use of organization quantitative and qualitative information from the organization various dimensions useful in determining the company strategic position.
indrifexer.cf: THESIS ON FINANCIAL PERFORMANCE ANALYSIS
This analysis involves the use of company information and its compilation is vital for company decision making at the company level planning and policy making. The opportunities analysis component of SWOT analysis facilitates company diversification and considerations on how to effectively its resources and investments within the industry. Disadvantages of SWOTanalysis: 1. SWOT analysis has the tendency of overlooking key strategic aspects of company internal factors.
Much more than documents.
This is attributed to the fact that it sometimes views complex circumstances and trends in simple perspective. The categorization of company internal aspects as strengths, weaknesses, opportunities and threats may not be valid because they are subjective attributed to the uncertainties in the industry. This analysis does not take into account organizational factors it only lists strengths, weaknesses, opportunities and threats. It does not provide a priority significance of these factors and the real impact of each factor to the organization hence lacking clarity.
The analysis has a lot of ambiguities attributed to its one dimensional model adopted in the analysis where each organizational problem is viewed as strength, weakness, opportunity or threat. SWOT analysis is a subjective process because of its tendency of reflecting biasness of individuals collecting data because the data used might be outdated and does not reflect the true company and industry trends.
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The analysis provides a model showing the relationship of these forces and the competitive strategic position of the company Porter, Advantages: 1. It provides an insight understanding of rules of competition in an industry pointing out its attractiveness. This analysis model helps strategic managers understand the various competitive forces that Its provision of a sophisticated analysis gives an insight in regard to the company strategic position in the industry Coyne and Balakrishnan, Disadvantages: 1.
The analysis assumes that market structures are relatively static while in real markets are shaped by continuous changes. With this assumption in regard to market structures, hence, the analysis cannot provide a meaningful prevention measures. The analysis mainly focuses on competition and that companies are seeking competitive advantage while ignoring other company objectives.
Identify the existing external factors influencing the performance of the organization 2. Identify the future external factors influencing the performance of the organization in terms of opportunities and threats Disadvantages: 1.
The external fields affecting the performance of the organization may not be openly known to the researcher 3. Analysis is run according to several assumptions, which might present a different situation of the organization than what it is in reality.
Financial techniques applied for research Annual financial figures for Toyota are related to accounting values reported in March the 31st, , and and have been analysed in order to see if accounting policies were changed or if the company changed some assumptions used to estimate some liabilities such as pension debts or goodwill impairments.
Financial Ratio analysis The financial analysis is based on the performance of Toyota over three financial years, from to with the purpose of evaluating strategies, business and financial performance for the period of analysis. Strategy and business aspects will allow appreciating the impact of the organization and external factors that have affected the performance of the company. This business accounting technique facilitated me to carry out various ratio analyses from the company audited financial statements.
This study of business and financial analysis and profitability provides that ratio analysis of a company can be used to analyse and evaluate various dimensions of a company.
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These dimensions include evaluation of past performance, evaluation and determination of the company current financial position and finally it aids in the projection of the anticipated future results. The financial ratios identified using this technique provides an insight regarding the micro-economic relationship that exists in Toyota. Result, Analysis, Conclusions and Recommendations BusinessPerformance Toyota was founded by Kiichiro Toyoda in Monden, and by was named the largest automobile manufacturer in the world by the virtue of its production Kato and Smalley, It is interesting to note that the organization was ranked to be higher in its production capacity than the giants Volkswagen and General Motors Group.
The organization provides employment to over , employees and operates through subsidiaries around the world Toyota Motor Corporation, The group distributes vehicles under the Lexus, Toyota, Daihatsu and Hino brands. Business operated by Toyota covers all the different phases of the industry cycle: both research, procurement of parts, assembly, distribution and finally financing of the purchase of the vehicles Stewart, The table discloses the factors behind this growth, explaining how the largest contribution to growth was attributable to price mix.
Country Revenues Segmentation Yen bln Japan 7, 8, 8, In fiscal and , the Japanese yen was, on average, and at the end of the fiscal year weaker against the U.
In fiscal and , the Japanese yen was, on average, weaker against the euro in comparison to fiscal and , respectively Toyota Financial Results, Source: Toyota Financial Results, As previously stated the company manages different brand that have a differentpositioning according to the perceived price to quality ratio. Source: Toyota Financial Results, Toyota is currently pursuing strategies to optimize production costs thanks to lean management strategies May, During — the company was able to optimize costs thanks to efforts in the design of the products, plants reduction costs and logistic synergies.
Thesis on effect of working capitl management on profiability of business
It must be remarked that Toyota has a long-term history as a constant innovator. The company was the first to introduce lean manufacturing, Kaizen, Kanban and Total quality Management systems in its organization Hino, This is a part of a strategy to improve its competitive advantage as soon as Toyota understands that customers that have become very focused about the CO2 emissions and the fuel-efficiency of their cars require environmental friendly cars.
Reviewof Industry Toyota operates an industry, which is characterized by a several players that compete in order to offer vehicle solutions to people, both private and corporate. The worldwide automotive market is highly competitive and it has a demand that is strictly related to the fluctuations of the economy Yong, As soon as the automotive is a vast industry, according to the type of the vehicles, players choose to position themselves on some activities of the value chain e.
For some brands such as BMW, Volkswagen but also Due to these features, the Porter Five Forces model seems quite useful to highlight and to summarize the main factors that are affecting the competitive positioning of the different players in this industry.