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Write an analytical report to the Chief Executive Officer (CEO) of Fisher & Paykel Electronics keeping in mind the following components and the marking schedule:

1.Executive summary

2.Give your comments on the past and present mission statements of F & P using any two of the Campbell criteria from Chapter 1 of the textbook (Wheelen & Hunger). Have they changed over times?

3.As part of the environmental scanning, identify factors from the given case and create tables to perform the following analysis for Fisher & Paykel Electronics. You will need to refer to Chapter 12 of the textbook to get some relevant ideas.

a.SWOT (Strengths, Weaknesses, Opportunities, Threats)

b.IFAS (Internal Factor Analysis Summary)

c.EFAS (External Factor Analysis Summary)

d.SFAS (Strategic Factor Analysis Summary)

4.Analyse and comment on the company’s financial performance from the data given in Appendix 3 of the case study. Use the various data provided in the case to create any THREE financial ratios, and charts etc. to support and illustrate your answers.

Answer to Part 1

The report is aimed to do a case study analysis on “Fisher & Paykel Electronics (F & P)”, this has been identified with specified class. The analysis of the report is based on the information which will be able to freely supplement the research for the related information contained for the case. The main depictions of the study will be able to comment on past and present mission statements of F & P by using Campbell criteria along with the changes from time to time. The study has further identified the environmental scanning based on the identity factors from the given case and the overall analysis has been further seen to be performed based on Fisher & Paykel Electronics. Some of the main depiction from the chapter 12 of the study has been able to focus on SWOT, Internal Factor Analysis Summary and Strategic Factor Analysis Summary. The third appendix of the case study has been further able to state on the financial analysis of the company using financial ratios. The fifth aspect of the study has been further able to comment on the important issues taken from the overall operations in the given case of F&P and further suggest on the various approached adopted by the management. In addition to this the report has highlighted on three important issues taken onto consideration with the overall operations of the given case of F & P and suggested on the overall approach by the management (Huang & Kou, 2014).

F&P using of past and present mission statements of Campbell and rationale for changes

The two main types of the Campbell criteria have been identified with clear inclusion/exclusion criteria and explicit search strategy. The past vision of the company has been observed with F & P being the principal provider of the full range of the quality lifestyle for families in New Zealand. The significant provider of the quality appliances has been identified with the related products of the Australian families. The growth in the quality appliances has been further based on the various types of the factors which have been able to provide of the quality appliances, healthcare products and the different types of the related products. As per the previous values it has been seen with customers, people, quality improvement, suppliers, planning, environment, society, products and services (Ismail et al., 2015).

As per the present values of the company it has been discerned with improving patient’s lives and striving to provide quality of life in the employees. The relationship aspect has been discerned with patients, customers, suppliers, shareholders and the environment. The internationalism aspect has been seen as the main value which is related to thinking and the behaviours (English, 2015). The commitment of the people has been taken into account with self motivation and the desire to make real contribution. The other aspect has been considered with the original thinking which has lead to the different types of the innovative solutions for creating and following better practices, processes and products. The past belief of the company is seen to be best for the patients. The company has been taken onto account with the empathy; effectiveness and efficiency are essential which is seen to be essential success. The values of the company have been further discerned with various aspects cornerstones of innovation. The main belief of the company has been further seen with the motive of relentless pursuit of health innovation (The Committee of Sponsoring Organizations of the Treadway Commission, 2013).

Answer to Part 2

The different types of the environmental scanning and the identification factors have been seen with the analysis of Fisher & Paykel Electronics have been shown with SWOT (Strengths, Weaknesses, Opportunities, Threats, Internal Factor Analysis Summary, External Factor Analysis Summary and Strategic Factor Analysis Summary.

  1. SWOT

Some of the main form of the strengths of the company in United States has been discerned with:

  • The company is identified with the reduced amount of the labour cost
  • In the recent times, the company is able to sustain its position to obtaining higher profits
  • The existing distribution network is seen to be in a good position
  • The experienced management is also identified as the main strength (Dalnial et al., 2014)

Some of the main form of the strengths of the company in United States has been discerned with:

  • The company’s min weakness has been discerned in form of the limited investments in research and development
  • The low amount of the debt rating
  • The small size of the business is also seen as a limitation of the company
  • The brand value of the company is also discerned to be low
  • The cost of operating is discerned to be increasingly high
  • The weakness is also observed in terms of competition (Thi et al., 2015)
  • There has been several scope discerned with the new market avenues
  • New acquisitions are further seen with new opportunities for more development
  • New product and services are also seen as the main opportunities
  • The increasing growth rate is discerned based on both past and present data
  • Growing economy of the country is conducive in contributing to the various operations of the company (Drogalas et al., 2015)
  • The increasing cost aspect has been evident with the increasing raw material cost
  • The main form of the threat has been further discerned with the fluctuations in the price
  • The company is further seen to be facing a high amount of competition
  • The increasing  labour cost has been further seen to be discerned with the threat
  • The increasing rate of interest is another possibility of the threat (Richardson et al., 2015)
  • Internal Factor Analysis Summary

Internal Factors

Weight

Rating

Weighted Score

Internal Strengths

1. The existing operations are able to show the systematic management system.

0.15

3

0.45

2. Adequate availability of the capital requirements

0.1

4

0.4

3. Adequate labour availability

0.15

3

0.45

4. Quality Management

0.15

3

0.45

Internal Weakness

0

1. Large number of competitors in appliance manufacturing

0.05

2

0.1

2. Technological Changes

0.15

1

0.15

3. The low amount of the debt rating

0.15

4

0.6

4. Cost of operating expenses

0.1

3

0.3

1

2.9

The total weighted score has been seen to be ranging between 1 to 4 (Where 1 is low, 4 is high and 2.5 is discerned to be the average). As per the given situation it has been seen that the total weighted average score of internal strengths and weakness is more than 2.5. This has been further identified with high score of the internal strengths and low amount of score for the internal weakness (Fernandes et al., 2014).

External Factors

Weight

Rating

Weighted Score

Opportunities

New market avenues

0.3

4

1.2

New acquisitions

0.1

1

0.1

New product and services

0.05

3

0.15

Increasing growth rate

0.05

3

0.15

Growing economy of the country

0

Threats

0

Increasing raw material cost

0.1

5

0.5

Fluctuations in the price

0.1

4

0.4

Company is further seen to be facing a high amount of competition

0.15

3

0.45

Increasing  labor cost

0.05

2

0.1

Increasing rate of interest

0.1

1

0.1

Total Scores

1

3.15

External Factors

Weight

Rating

Weighted Score

Opportunities

New market avenues

0.3

4

1.2

New acquisitions

0.1

1

0.1

New product and services

0.05

3

0.15

Increasing growth rate

0.05

3

0.15

Growing economy of the country

0

Threats

0

Increasing raw material cost

0.1

5

0.5

Fluctuations in the price

0.1

4

0.4

Company is further seen to be facing a high amount of competition

0.15

3

0.45

Increasing  labour cost

0.05

2

0.1

Increasing rate of interest

0.1

1

0.1

Total Scores

1

3.15

Strategic Factors

Weight

Rating

Weighted Scores

Factors

0.25

5

1.25

Application of Subscription Model

0.05

3.5

0.175

Content

0.025

0.28

0.007

Strategic Alignments

0.25

0.16

0.04

Financial Position

0.2

0.16

0.032

Shipping

0.1

0.07

0.007

Capabilities for Streaming

0.1

0.4

0.04

Distribution Time

0.025

0.3

0.0075

1

1.6

Strategic Factors

Weight

Rating

Weighted Scores

Factors

0.25

5

1.25

Application of Subcription Model

0.05

3.5

0.175

Content

0.025

0.28

0.007

Strategic Alingments

0.25

0.16

0.04

Financial Position

0.2

0.16

0.032

Shipping

0.1

0.07

0.007

Capabilities for Streaming

0.1

0.4

0.04

Distribution Time

0.025

0.3

0.0075

1

1.6

Profitability Ratio Analysis:-

Fisher & Paykel Electronics

Particulars

1994

1993

1992

1991

1990

$000

$000

$000

$000

$000

Revenue (A)

669561

597819

504830

500683

511753

Net Profit/Loss (D)

26950

28005

6908

4439

22029

Avg. ordinary shareholders equity(H)

267465

251772

225933

224987

218738

Gross Profit (B)

41370

30351

11464

7130

30208

Net cash from operating activities (E)

41370

30351

11464

7130

30208

Total Assets (F)

417008

387451

380412

414905

386478

Net Profit Margin (D/A)

4.03%

4.68%

1.37%

0.89%

4.30%

Return on  Equity (A/H)

10%

11%

3.06%

1.97%

10.07%

Gross Profit Margin (B/A)

6%

5%

2%

1%

6%

Cash return on sales (E/A)

6%

5.08%

2.27%

1.42%

5.90%

Return on assets (D/F)

0.065

0.072

0.018

0.011

0.057

Efficiency Ratio Analysis:-

Fisher & Paykel Electronics

1994

1993

1992

1991

1990

$000

$000

$000

$000

$000

Revenue (A)

669561

597819

504830

500683

511753

Total Assets (F)

417008

387451

380412

414905

386478

Assets turnover  (A/F)

1.606

1.543

1.327

1.207

1.324

Share Market Performance Ratio

Fisher & Paykel Electronics

1994

1993

1992

1991

1990

$000

$000

$000

$000

$000

Earnings per shares (B)

26

19

8

4

23

(Cents)

Proposed Dividend Per share (F)

16

16

8

10

10

(Cents)

Earning Price Per Share

26.00

19.00

8.00

4.00

23.00

(Cents)

Payout Ratio

61.54

84.21

100.00

250.00

43.48

Conclusion

The main depiction from the study has been able to state on present standing of F & P by using Campbell criteria. The depiction of the financial performance has been able to state that the company’s net profit margin has undergone several fluctuations. Depiction of the strengths has been depicted with reduced amount of the labour cost, sustaining its position to obtaining higher profits; existing distribution network is seen to be in a good position and experienced management.  The main depictions of the weakness has been discerned with limited investments in research and development, low amount of the debt rating, small size of the business is also seen as a limitation of the company and increased operating cost. The main threats has been identified with increasing raw material cost, fluctuations in the price, high amount of competition, increasing  labour cost has been further seen to be discerned with the threat and increasing rate of interest is another possibility of the threat. This is evident with 4.30% of net profit in 1990, which further decreased to 0.89%. Despite of the increasing trend of the net profit margin in 1993 with 4.68% a decreasing percentage of 4.03% is evident in 1994. The various types of the other fluctuations have been further seen to be evident with the return on equity. As per the depictions of the payout ratio the company has been seen to be maintaining the highest amount of payout ratio in 1991 with 250%. It has been further discerned that the payout ratio reduced down to 65.4% in 1994. The depiction made in the earnings per share has been further able to state that the EPS was highest in 1994 with 26c and 23c in 1990.

Reference List

Dalnial, H., Kamaluddin, A., Sanusi, Z. M., & Khairuddin, K. S. (2014). Detecting Fraudulent Financial Reporting through Financial Statement Analysis. Journal of Advanced Management Science, 2(1), 17–22. https://doi.org/10.12720/joams.2.1.17-22

Drogalas, G., Karagiorgos, T., & Arampatzis, K. (2015). Factors associated with Internal Audit Effectiveness: Evidence from Greece. Journal of Accounting and Taxation, 7(7), 113–122. https://doi.org/10.5897/JAT2015.0182

English, M. (2015). Financial Statement Analysis. Financial Statement Analysis -- Research Starters Business, 1. https://doi.org/10.2469/dig.v40.n2.29

Fernandes, D., Lynch, J. G., & Netemeyer, R. G. (2014). Financial Literacy, Financial Education, and Downstream Financial Behaviors. Management Science, 60(8), 1861–1883. https://doi.org/10.1287/mnsc.2013.1849

Huang, Y., & Kou, G. (2014). A kernel entropy manifold learning approach for financial data analysis. Decision Support Systems, 64, 31–42. https://doi.org/10.1016/j.dss.2014.04.004

Ismail, R., Noh, M. Z. M., Ismail, N. H., & Tamil, A. M. (2015). A tale of two construct validation analysis: Rasch model and exploratory factor analysis approach for Three-Factor Eating Questionnaire (TFEQ-R21) among Malaysian male workers. Medical Journal of Malaysia, 70(3), 169–176.

Richardson, G., Lanis, R., & Taylor, G. (2015). Financial distress, outside directors and corporate tax aggressiveness spanning the global financial crisis: An empirical analysis. Journal of Banking and Finance, 52, 112–129. https://doi.org/10.1016/j.jbankfin.2014.11.013

The Committee of Sponsoring Organizations of the Treadway Commission. (2013). COSO - Internal control / integrated framework executive summary. Committe of sponsoring Organisation of the Treadway Commission.

Thi, N., Mien, N., & Thao, T. P. (2015). Factors Affecting Personal Financial Management Behaviors: Evidence from Vietnam. Economics, Finance and Social Sciences, 978–1.

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