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Course ECON1100: Economic Analysis of Business Course School/Level BU/PG

Coursework RESIT Portfolio Assessment Weight 100.00%
Tutor B TBA Submission Deadline 11/08/2010

Coursework is receipted on the understanding that it is the student's own work and that it has not, in
whole or part, been presented elsewhere for assessment. Where material has been used from other
sources it has been properly acknowledged in accordance with the University's Regulations regarding
Cheating and Plagiarism.

000602405
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Grade Awarded___________ For Office Use Only__________ Final Grade_________

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Task 1

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Task 1

This subject is about studying the performance of business and rectifies its operations where it is
necessary through this procedure performance of business can be improve. This process required
study of the business very deeply so one can make it work better, and keep that in mind “main aim
of any business is to earn more and more profit”.

To implement such changes we must study following terms:-

 Output: - output is anything which is serving by the particular business houses. Formations
of the management who analyse the factor which can reduce cost of output make it to work
efficiently.
 Productivity: - This is first process of this cycle. Manufacturing of the goods is part of
productivity.
 Investment: - Running business on large scale requires capital. This capital is invested by
investors as well as company invest its capital in bond, stocks, property and financial
derivatives like future funds.
 Concentration ratio: - This is standard tools to measure market concentration of
competition, economists and authorities implement the Herfindahl index and concentration
ratios. To study market competition.
 Price-cost margins: - It is signal of the market power as larger the margin mean more
difference between the marginal cost and price.
 Financial ratios: - It is useful in evaluate overall financial condition of the business
organisation.
 Merger and Acquisitions and Performance indicators: - This is the terminology of business
organisation related to business strategy in Greenfield and Brownfield business. And buying
and selling of different companies.

All these points are crucial to make good tactics for business. And I think this subject gives
opportunity to gain more knowledge about business studies and analyse and teach us how to
execute ideas in worse and good condition of business.

Task 2

The industry which I have chosen is public transport. Public transport is a shared passenger
transportation service for general public and mostly run by government. Aim of such service is to
provide good service to the public with cheap fares.

Different modes of public transport which run for domestic purpose are Buses, Trains, Trams, and
Ferrys while intercity public transport done by coaches, airline and intercity rail. Public transport is
very huge system. And required perfect synchronisation

UK public transport is one of the best service provider hence UK public transport regulator is main
concern in this topic.

Output

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Output only gain if service provider know the demand of the public regarding the services. This task
only fulfil if supplier undertake analysis and research by using primary and secondary data sources of
the factor which determine demand for the public transport. Cost effective theme

The output which is concerned by this organisation is more and more better services to the general
public along with affordable price.

It is difficult in measuring acceptable level of service. For instant a day time hourly bus service with
no account taken of quality of journey and destination served which both count as key points in
providing useful access to service.

One more factor which influence the measuring the output is moment with the local community.
There are number of location which is suffered from the community severance. General life and
Public willingness to travel on foot is affected. Rural settlements which occupy the certain area have
more frequent public transport as compare to the bypassed.

UK has tended to focus on journey time impacts, safety and to certain extent environmental issue.
Most important UK guidance on assessment also admit category of accessibility which attracted
wider issue of the social inclusion.

For public transport it is important to provide quality service so service quality measure is one of the
important practices for regulator and service provider. For this it is important to identify quality
attribute influence on the customer behaviour and to establish their importance.

There is no exact way to calculate the output or measures of the public transport, but to improve
their service government regulator such as TFL work hard to make service better than before. These
changes can be implemented only if service provider knows what public is looking for such as if there
is requirement of frequent service in certain area than this requirement only fulfil by providing
alternates and more connected roots so diverging and more connected root can make effort
towards better service.

These are output and measure for the public transport for better and safe service to the passengers.

Task 3

Productivity can be defined as the ratio between output volume and input volume. Productivity is
everything in long run as any of the country’s standards of living over time almost depends on its
ability to raise its output per worker. [Paul Krugman 1994]

There are different standards to analyse productivity depend either on the data availability or
purpose of the productivity measurement.

Unit cost and productivity wages are Key indicators to measure the competitiveness and efficiency
of the economy. These are built as ratio of other indicators and are competitiveness of the economy.

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Three measures of productivity are output per hour worked, output per worker and output per filled
job.

It has been found by O’Mahoney and de Boer (2002) that labour productivity of UK lags the USA in
manufacturing and also lags in finance and business services and distributive trades.
In comparison, UK leads the way in extraction productivity and mining.

In analysing the UK’s poor productivity performance, various economists have laid part of the blame
at the door of economic policy. After analysing the UK’s poor productivity economist blame at the
economic policy. For instant Craft argues that for much of the period thrust policy did not focus on
issue like flexibility or skills. Instead of this they focused on subsidising physical capital, on promoting
‘national champions’, financing project {aerospace Concorde and nuclear power} and on
nationalism. Such types of policy have done damage in Britain.

The UK has a very good historical record in innovation but in recent years the aggregate amount of
spending on development and research in the United Kingdom has lagged behind of international
competitors. It has been indicated by government research that entrepreneurial spirit is
comparative lack. While large US firms invest to a great extent in small firm’s cuttings edge
industries like biotechnology and computing there is little similar investment in the United Kingdom.
This can be conclude that venture capital market favour investment in management buyouts mean it
can be much difficult for new start up for funding.

This table shows labour productivity annual growth rate in UK and US from 2000 to 2008. It has been
found in the graph that labour productivity growth rate (LGPR) of UK in 2000 was 3.4 which was
more than US. But (LGPR) of UK is diminished with passage of time as we compare to growth of US

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till 2005. In 2006 and 2007 UK labour productivity is 2.3 and 1.7 respectively is more than US. 2008 is
led by US.

Source: Office for National Statistics (ONS)

In UK GDP has grown by 37% since 1991 as compare with the G7 average of 29% it mean UK has
experienced faster productivity growth than all other G7 countries. Between 1991 and 2008 UK
productivity raised by 48% in term of GDP per hour worked.

Productivity growth in the US and the UK have been at similar rate as measured by GDP per worker
but in terms of GDP per hour worked UK productivity has developed at faster rate.

Task 4

Definition: - capital formation can be defined as the transfer of the savings from the government and
household to the business sector result in increased economic expansion and output. Capital
formation term is use in two senses with respect to statistical and economic measures. India now
attracts global media these days because of increasing economic power and rapid progress.

Economically India now provides global market to the multi-national companies especially in
Information Technology sector. To appreciate foreign investment in country government changes
the policy for investors to invest.

Country or Area Year Value

India 2005 8,366,270,185,472
India 2004 7,039,500,156,928
India 2003 6,031,389,753,344
India 2002 5,356,239,978,496
India 2001 4,816,240,115,712
India 2000 4,706,950,184,960
Source: United Nations Statistics Division
after analyse data it has been found for 2000-2005 during the period of this year Indian economy
has been gone through many political and economic changes such as military conflicts with

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neighbour countries, domestic militancy and terrorism, stock market boom and crash, different
political shades, global oil crisis and financial scams.

Different types of savings such as physical and financial savings of the household, saving by the
public sector and the private corporate sector and foreign capital. Contribution to the capital
formation in the economy measure by the capital account balance which depict the inflow of foreign
capital of various type including those that indirectly and directly yielding contribution.[ Himanshu
Joshi]

Since 2000 Indian highly attract by the big foreign investor. Including IT sector which is backbone of
Indian industries some of the major multinational industry invested in India. Growth of foreign
investor in domestic market increase the capital formation in year 2002 and 2003,

As far as concern about private sector the profitability of Indian industry particularly since 2004-05
has been considerably backed by a significant decline in the interest rate because of steady decrease
in inflation on foreign and domestic interest rates.

As observed in recent years balance of fiscal and monetary policies as well improves fiscal
performance along with policy of FRBM (Fiscal Responsibility and Budget Management Bill) act, 2003
and adjustment in liberalisation of the capital account maintain pace of capital formation. Private
sector is affected by the Banking sector; impact on capital formation by the household savings is
relatively small.[ Himanshu Joshi]

There are three major forms of capital formation, Gross Domestic, Net Domestic and Gross Fixed all
this measures of capital formation have strong positive time trend. It is found that there may be not
statistically significant impact of economic liberalisation on capital formation in India.[ Achintya
Ray2007]

Task 5

Innovation

Now, before moving forward we must know

What is innovation?

There is not any proper definition of innovation. But in simple words innovation is a change in the
thought process for doing something or it may also can b define as a new type of stuff that is made
useful. It may also refer to revolutionary and radical changes in thinking, products, processes, or
organizations. Doing something new which results in profit weather it is in field of arts, economics,
and policy. The main goal of innovation is to give positive change that leads to someone or
something better. Innovation leading to increase productivity is the basic source of increasing wealth
in an economy.

This is one of the important topic to study in terms of economics business design technology etc.
innovation is considered a major driver to the economy. And it is also very useful in case of new
product categories or increasing productivity.

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In case of organization

A convenient definition of innovation from an organizational perspective is given by Luecke and Katz
(2003), who wrote:

"Innovation . . . is generally understood as the successful introduction of a new thing or

method . . . Innovation is the embodiment, combination, or synthesis of knowledge in
original, relevant, valued new products, processes, or services

For an innovation the basic thing which is required is a creative idea which must to put in action
which makes a genuine difference resulting for an example which is in new business process within
the organization or a change in products and services provided.

It can be also explain as

"Innovation, like many business functions, is a management process that requires specific tools, rules,
and discipline."

In terms of economic conceptions

[Joseph schmpeter] defined economic innovation as

1:- The introduction of a new method of production, which need by no means be founded upon a
discovery scientifically new, and can also exist in a new way of handling a commodity commercially.

2:- The carrying out of the new organization of any industry, like the creation of a monopoly position
(for example through fructification) or the breaking up of a monopoly position

3:- The conquest of a new source of supply of raw materials or half-manufactured goods, again
irrespective of whether this source already exists or whether it has first to be created

4:- The introduction of a new method of production, which need by no means be founded upon a
discovery scientifically new, and can also exist in a new way of handling a commodity commercially

5:- The opening of a new market that is a market into which the particular branch of manufacture of
the country in question has not previously entered, whether or not this market has existed before.

Innovation is also further studied by economists in a variety of other contexts as well.

Disruptive innovations

This is the most interesting type of innovation at least in case of society point of view.

Now let us take an example stuff we are using these days like mobile phones laptops digital cameras
are the product and the World Wide Web as services. Now way of learning and the way of teaching
is changed only because of innovations. And this makes our interactions towards world around us
differently.

What innovation over the last several hundred years has led to the most wealth creation?

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Now we are leaving in the fully electronic world and now we have computers and many electronic
items with us that is only because of innovations because the people who worked in 19th century to
give us the idea about all these stuff.

In the twentieth century, American industries invested in reducing costs, improving the quality of
their products, and in developing entirely new and useful products. As they did so, they also tried to
measure what they were getting for their investments.

So in simple words innovation is working on an idea which promises to change the living of the
world.

Task 6

The regulator which I have chosen for this task is Department of Health (DH). DH was created in
1988. DH is part of UK government but responsibility for government policy for England on social
care, health and National Health Services. DH is operated by secretary of state for health with three
ministers of state and parliamentary under-secretary of state. The purpose of Department of
Health’s is to ensure better health and well-being.

Responsibility of DH is to maintain standards of health care in the country, including the NHS.
Strategic framework is set for influence local authority spend on social care and adult social care. DH
set the direction on protecting the public's health and promoting, DH also lead on the issues such as
health promotion and education, environmental hazards to health, infectious diseases, ethical issues
and the safety of medicines.

Department of health work in setting direction includes:

• Local Area Agreements.

• The NHS operating framework
• Strategy
• Policy
• Allocating resources
• Legislation and regulation

DH provides the best way to develop, support and mobilise the social and health care system to
deliver improvements for patients and the public.

Health department works in supporting delivery includes:

• Ensuring value for money

• Building capacity and capability
• Managerial and professional leadership for external groups

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• Performance monitoring and evaluation

Main strategic objectives of the Department of Health are

• Better care for all, the best possible health and social care that offers safe and effective care, when
and where people need it and empowering people in their choices.

• Better value for all, delivering affordable, efficient and sustainable services, contributing to the
wider economy and the nation.
• Better health and well-being for all, helping people stay healthy and well; empowering people to
live independently and tackling health inequalities.

Health Survey for UK

One of the special programmes run by DH is The Health Survey for England. It is a series of annual
surveys designed to measure health and health related behaviours in children and adults in UK.
It has a series of special topics that are included in selected years and core elements that are
included every year.
 Special topics include: cardiovascular disease; physical activity; accidents; lung function
measurement and certain blood analytes.
 Core topics include: general health; smoking, drinking and fruit and vegetable consumption;
height; weight; blood pressure measurements and blood and saliva samples.

Personal social services over £20bn spent in England in 2006-07

Local authorities in UK spent £20.1 billion on personal social services. This was an increase of around
70 per cent in real terms since 1996-97 and an increase of 1 per cent since 2005-06.

Source: The Information Centre for health and social care

Impact and Metrics:

Stakeholder survey, other feedback and Staff indicates rising satisfaction with DH performance and
increasing staff confidence in DH support and systems.

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DH is running more than two decades and it is very vast organisation so sometime it may not work
out for DH to satisfy everyone. But overall position of this regulator is satisfactory. To overcome
issue raised by negative feedback DH still improving its services.

DH Continue to consult with staff on the development of Programme, Implement a new, joined up
disputes resolution policy and procedure

Task 7

Concentration ratio is about providing estimate of extent to which largest firm contribution to
activity in industry. Profit, Variables such as sales and employment are used to derived
Concentration ratio. Based on ABI data for each Input-Output(I-O) industry concentration ratios is
determine.

Motor vehicle industry is in I-O group 77. In last couple of decades this industries has gone through
many changes. Major car UK producer discontinued automobile production or acquired by other car
makers. In current scenario car industries is dominated by Japanese and US giant based in UK.
Market was unfair in 1950s for motor vehicle industries intend decline in manufacture and lead to
formation of Leyland and Austin Morris together they start manufacture Jaguar, Triumph and Rover
cars British Leyland was nationalised later in 1977 after ten year it become Rover Group.

Mergers and Acquisitions:-

UK automobile market faced high competition from global major industries they import higher
quality and with lower costs of production which affected UK car sales. Due to this many UK car
manufacturer and producer discontinue production and some business acquired by overseas
industries.

 MG Rover, owned by Nanjing Automobile Group in 2005

 Jaguar and Aston Martin are owned by Ford
 Rolls Royce and Bentley are owned by Volkswagen
(although the Rolls Royce name passed to BMW)

Japanese business especially Toyota, Nissan and Honda built modern manufacturing plants in the
UK. These plants production technique are highly efficient and maintain high quality product.
Production process equipped with new technologies allows 24 hours a day and seven days a week.
In 1990s factories met loss because of diminish in sales of the product, high inflation, strength of the
pound sterling and large investment but now running profitable. In 2005 nearly 767,000 cars were
manufacture by Japanese business out of which 70% cars exported in worldwide including japan.
Very same year 1.6 million cars manufactured by UK which was about 300,000 below the record set
in the early 1970s much higher than the low of 880,000 in 1982. Ford which is one of the world’s
biggest car manufacturing company ceased car production in 2002 in the UK. But remain centre for
engine manufacturing. Even though luxury brands like Jaguar, Land Rover and Aston Martin
continues to produce by the Ford’s.

Giant companies like Ford, GM, Toyota, DaimlerChrysler, Volkswagen and Renault-Nissan led the
global car manufacturing market. Businesses such as BMW, Honda and PSA (Peugeot and Citroen)
are also major businesses building on strategic links with smaller companies such as Fiat and
Mitsubishi.

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Concentration ratio for motor vehicles industries in 2004
Top five business as a percentage of the total output is 34 and GVA is 34, Top 15 business as
percentage of total output is 54 and GVP is 50 and ranking position for the top five businesses
output 48 and GVP is 50.

According to UK I-O supply and use table

For all producer output and GVP of Moto vehicles are 37,931 and 8,830 respectively and for market
producer output is 37,931 and GVA is 8,830

Task 8

The enquiry held on the Dec 2004 on domestic bulk LPG. LPG is necessary goods; The main objective
of this inquiry was to help the CC to determine safety management impact on business practices in
the domestic bulk LPG industry such as, the uplift of tanks, the ownership of tanks by suppliers, the
exclusivity of contracts and duration of notice periods.

Problem investigated during this inquiry as CC want to understand attitudes and consumer
behaviour regarding LPG, especially in terms of choice reason, views about the service provided,
safety and attitudes towards switching.

Sample and methodology

report is conducted with 41 respondents from six different regions. In UK LPG service provider is
working in oligopoly business. According to survey one in two service are supplied by Calor gas,
around one in five are supplied by BP, smaller number provided by Flogas and one instance of J gas
being supplied.

Most of the respondents are owner of home with LPG tank. Respondents are mix of females and
males. Most aged above 40 year

It has found that LPG is attached to the property from long time they haven’t change the service as
LPG considered best and only option. Customer only care about quality of service not price.
Customer receive service from supplier are satisfied but customer receive from head office are less
satisfied. Most of customer is neither customer aware of price they pay per litre nor change in
recent price. Despite of price are very high they don’t have any good alternative many thought price
is set by government taxes and oil companies.

Very few customers switch the LPG supplier and made any price enquiry from other supplier overall
lack of knowledge price of other supplier in area this is basic reason of not switching the services.
Older user and pensioner are more concern about keeping bills affordable hence they limit the use
of gas. Younger and working customers like to switch alternative of LPG.

LPG users not concern about safety and maintenance. They assume it in good condition.

Conclusion

Most of the customers accept rise in price and happy with the services not thinking about switching
of the services. Very few made changes in the services find themselves in inability of change energy
source and supplier without upheaval and great cost.

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Few of the customer want to own their tank due to the potential cost involves and responsibility.
Independent third party ownership of the tank may be the possibility. Standardisation of tank parts
and tank also help to breakdown hurdles to switch suppliers.

Customers have lack of understanding, knowledge and awareness regarding price and price setting,
contractual obligation, alternatives and other potential suppliers. They should aware of termination
of contract, consumer concerning, pricing of LPG and switching supplier.

From this study three different types of customers is identified.

Firstly – unaware that they could switch the supplier or unaware of other potential supplier in the
area.

Secondly – believe in changing LPG supplier or changing energy source.

Finally – not satisfied and resign to use LPG these are those customer who have taken action by
contacting their own supplier and other supplier as well try to negotiate price of LPG.

Task 10 Scaling Factor: 1000000

Company I opted in this task is world’s largest beverages sailing brands Pepsi and coca cola. for five
consecutive years. Liquidity of firm is calculated by current ratio and net working capital. Liquidity of
firm determines ability bear expenses of firm or even call as working capital.

Pepsi current ratio from last five years is maintain between 1.11 to 1.44 more current mean more
stable firm. On other hand Coke current ratio lie in .72 to 1.44.

Net working capital of Pepsi for five is positive mean more asserts than liability. Coke net working
capital is not good as in 2008 and 2006 liability of company dominated asserts.

Cash and equity Pct current assets this is one of the measure to calculate liquidity. Pepsi recorded
cash and equity Pct current assets lowest at 21.07 in 2008 and highest at 46.70 in 2005 cash and
while equity Pct current assets of coke touch minimum 4.98 in 2007 and maximum 25.02 in 2006.

Account receivable turnover ratio measure how account receivable are managed for Pepsi
cooperation ART are 31.19, 40.80, 43.24, 43.34, and 36.78 for year 2005, 2006, 2007, 2008 and 2009
respectively. Coke ART is 49.76, 42.40, 52.52, 46.83 and 49.44 for year 2005, 2006, 2007, 2008 and
2009 respectively.

Inventory turnover ratio determines the firm ability to manage inventories. Pepsi Record 45.34 to
50.70. From 2005 to 2009. And coke recorded 25.74 to 31.90 between year 2005 to 2009.

Leverage is amount of debit use to support the company mean more Leverage ratio mean bad
condition of the business. Debit equity ratio of the Pepsi is much better than Coke.

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After going through the financial data it can be conclude that liquidity of this two firm are almost
similar and in good condition. Both firms can manage the account receivable, stock of both firm is ar
satisfactory level. Asserts are used efficiently to support the sale both are satisfactory.

Leverage or debit ratio Pepsi is less default in debt as compare to the coke which is more in debt in
year 2005, 2006 and 2008. Time interest earned of Pepsi is satisfactory as well coke Time interest
earned considerably satisfactory.

Overall liquidity, activity and debit ratio of both firms are satisfactory but Pepsi is debit free since
2005 to 2009 as compare to the coke.

Task 11 Scaling Factor : 1000000

Profitability of the two industries I chose in pervious task Pepsi and Coca cola. Profit of company on
equity, sales and assets.

Net profit margin indicates the rate of profit from sales. Net Profit Margin of Pepsi for 2005, 2006,
2007, 2008 and 2009 is 12.52, 16.06, 14.33, 11.89 and 13.75. N P M of Coke is 1.66, 1.62, 1.38, 0.62,
2.64 and 2.64. For 2005, 2006, 2007, 2008 and 2009 respectively it can predict that performance of
the Pepsi is much better than the coke.

Return on assets ROA measure effectiveness in generating profit from the assets available.

ROA of coke

2009 4.80
2008 2.67
2007 3.83
2006 4.13
2005 3.72

ROA of Pepsi

2009 16.01
2008 15.17
2007 17.98
2006 18.81
2005 14.22

Pepsi show higher return on assets as compare to the coke

Return on equity measure the return to the firm stockholder by relating t to the shareholder equity.
Coke depicts loss of -0.09 in 2008 but in 2009 touch the height of 29.95. Pepsi did not show much
ups and down lowest at 16.60 and reached maximum at 24.52 in 2005 and 2006 respectively.

Earnings per share

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EPS of Pepsi Corporation 3.77, 3.21, 3.41, 3.34 and 2.39 for year 2009, 2008, 2007, 2006 and 2005
respectively. EPS of Cola Corporation 4.15, 0.99, 2.17, 2.54 and 2.53 for five consecutive years.

Dividend per share of Pepsi Corporation is 1.78, 1.65, 1.43, 1.16 and 1.01 for five consecutive years.
While Cola dividend per share is 1, 1, 1, 1 and 1 for straight five years.

PE ratio of cola is 13.02, 46.42, 27.13 and 26.94 for 2008, 2007, 2006 and 2005 respectively. PE ratio
of Pepsi is 16.13, 17.06, 22.26, 18.73 and 24.72 for five consecutive years.

After examine all the data available on Thomson one regarding profitability of these two firms. It can
be conclude that Pepsi is bulk firm as compare to the Cola. In almost all of measures performance of
this industry are similar. Earning of the Pepsi is higher than Cola but if compare the dividend Pepsi
corporation increased in between 2007 to 2009. While Cola constant from last five years.

Overall profitability of both firm is satisfactory but again Pepsi is more profitable than Cola if
measure profit of company on assets, equity and sales.

Task 11

From task 1 to 11 I studied different aspects for business and how to analyse the performance of the
business. Doing this entire task is very impressive it covers almost everything related to the subject
and I can say I acquired good knowledge while doing this task and learning this subject. This best
way to gain knowledge while doing this task some of them are really very hard but dividing work in
different portfolio is helpful. I have learnt how to analyse data and information. Especially last two
tasks from Thomson one which is about how to analyse the business performance. Profitability,
Market, Liquidity, Activity and Debt Ratios are variables through which we can predict business
performance. No this subject is same as I expected even better than I expected. From beginning till
end this subject emphasised on the business studies factors which affect business activity.

Different area of the business performance government and non-government organisation how they
work, how economical and political issue affect the performance of the business in short and long
term run.

Best part of this subject is to doing assignment on same day study mean portfolio is related to the
topic which is taught very same day, hence it become easy to do this task.

Overall I learnt a lot from this subject which is definitely helpful for me in future in making important
decisions in business activity.

Reference:-

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