Financial Report of Emaar Properties - Free Essay Example

Sample details Pages: 5 Words: 1448 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Financial Report: Emaar Properties Introduction The purpose of this report is to present from the consultants point of view a challenge faced by a real estate investment firm located in the United Arab Emirates or UAE. For the purpose of this study, two firms were chosen because financial investment information was available from the company investor relations department web sites. These investment reports shed light on not only on the competitive nature of this sector but also the volatility involved with such ventures. The competition is fierce for large and small ventures alike. Much of the firms success is leveraged against how well the property will be accepted by the public. Performing a financial ratio analysis allows the consultant to delve into the core of the organisation and discover areas of health and illness. A firm called Emaar Properties will be the main focus and analysis for this report, however, another firm with presence in the region was also chosen to support the argument that different firms use different ta ctics to gain market share. This firm is called Union Properties. Don’t waste time! Our writers will create an original "Financial Report of Emaar Properties" essay for you Create order Company Background Emaar Properties is an industry giant in the region. They are quickly becoming a global leader as the provider of premier lifestyles. It is a young company founded 1997 that have government partial ownership as investors. This organisation is not about just building homes but value-added, master-planned communities that the homebuyers full spectrum of lifestyle needs.[1] Challenge The challenge faced by the consultant with regard to Emaar Properties is how the organisation can remain at the top of their game with respect to investment in high-end resort lifestyle properties. Obviously this is an expectation of the Dubai citizen but the main challenge remains in continuing a unique, creative marketing campaign to present an all-encompassing lifestyle experience without tarnishing the conservative brand and mission of the company. This firm wants to embrace the notion of luxury fun but also must remain fixed in its overall value system. While other smaller real estate firms have broadened their goals to include most demographics with rent to own options, this firm remains entrenched with creating an elite approach to buying and promoting properties throughout the region, Middle East and North Africa. Solution The solution to the problem remains focused on the organisations intellectual teamwork or its people. How do you measure people and their creativity? How does one know if current marketing campaigns for successful properties are working and still plan to take the world by storm as Emaar continues projected momentum? This begins and ends with analysing previous annual reports to see where the company is best performing and if there are weak areas, how to improve performance. For the purpose of this task and quantifying this solution, Emaars 2007 Annual Report is available for perusal. Clearly something is going right for the organisation, as according to Ernest and Youngs report, the company grossed over $6.5 million in profit for 2007.[2] Property sales to customers exceeded $14 million for 2007.[3] Marketing including advertising for 2007 doubled since 2006 which shows increased need for the tool but also possible excessive, poorly engaged tactics? Further analysis is needed. Financial Analysis According to Pamela Peterson Drake the best way to assess for financial health begins with understanding if the firm is using its operating resources correctly. The consultant wants to ensure the firm is applying its assets in an efficient and profitable manner.[4] When assessing this for Emaar, one must also consider the different segments of the corporation or individual performance but also on a whole. One can apply a simple profitability ration, which will determine if the amount of income reflects accurately the amount of sales. For Emaar, the income out weighs the amount of sales by more than 2 to 1, which demonstrates a healthy and wealthy organisation. Traditionally if an organisation can calculate a ratio of 2 to 1 or assets versus obligations (in the form of expenses, risks etc.),[5] then this means the company will meet these bills, maintain an excellent credit rating and stock rating with extra for reinvestment or dividends for its investors. By examining this simply, the consultant can see a relationship forming between the amounts for sales with regard to marketing costs. To go further and more concrete, one would want to determine true net working capital to sales. One would subtract current assets from current liabilities but also divide this by the amount of sales. If this continues the trend of 2 to 1, then the company is healthy and can see a return on investment. How are other Real Estate Investment Companies in the region fairing? Upon investigation, there were a few real estate investment firms with information but few with investment information privy without formal request. Union Properties is much smaller than Emaar, both in scope and portfolio, but they are holding their own within a well-defined niche market. While their properties are also considered targeted at the wealthy and successful businessperson, they are opening up the market to new ways of affording such property. They have incorporated the credit option of rent-to-own in order to cater to other demographics. This evident in their earnings report because the year 2007 showed 16% more growth over 2006.[6] Also the firms profit increased by 11 percent or over AED 684 million.[7] Clearly the market is still hot but also this company is marketing to more people. Emaar SWOT Assessment SWOT stands for strengths, weaknesses, threats and opportunities. As a tool for identifying the well being of an organisation, this analysis offers key management teams tools for implementation of investment strategies for competitive edge in the marketplace. Strengths Its leaders and their focus on the overall mission of maintaining the highest quality product/service in the market with continual building of brand and reputation defines Emaar strengths. Weaknesses With conservative leadership behaviours come the criticisms that the firm is not embracing every customer as a potential loyal follower. Still this focus remains true to the mission of the organisation and its bread and butter. Opportunities As most of the world suffers through a recession, there are opportunities to be found out of others bad luck. The UAE is an oil rich nation where the economy is still strong despite the decrease in production and fall of barrel price. With this in mind, Emaar can continue building its luxury communities but also focus on other niche markets as an offshoot of the original mission. The focus can remain central on family and those values. The change in demographic to an upper class patron will allow for new relationships to flourish and ease in transition to other markets like Europe and North America. Threats Outside threats include the perceived negative image of the gulf state perpetuated by the Middle East conflicts of present. This limits outside investment but also deters Westerners from travelling to the area unless they have to. Continued portrayal of a positive moral image is important but also the company must remain aware of the financial crisis hurting other areas of the world. This may not be the best time to expose certain markets to such an elite product. Recommendations The consultant must be able to give financial advice for future investments in the corporation but also advice that is concrete to the situation. While it is important to perform ratio analysis, one must also see the full picture by researching, investigating all roles of decision-making especially with regard to future marketing tactics and presentation of image. It is important to remain aware of defining moments where change becomes a catalyst but also to remain proactive. Use common sense and communicate the full picture. ENDNOTES Emaar Properties: Company Profile, viewed 17 November 2008, lt;https:// www.emaar.com/index.aspx?page=aboutgt; Ernest and Young (2007), Emaar Properties: Financial Report for 2007, Dubai, United Arab Emirates Peterson, P D (2006), Financial Ratio Analysis, University of Ohio, Columbus Porter, M E (1985), Competitive Advantage: Creating and Sustaining Superior Performance, Harvard University Press, Cambridge, MA SWOT Analysis, viewed 13 November 2008, lt;https://www.quickmba.com/strategy/swotgt; Union Properties: Company Profile, viewed 17 November 2008, lt;https:// www.unionproperties.com/site/about.aspxgt; Union Properties (2007), Earnings Statement Release 2007, Dubai, United Arab Emirates 1 [1] Emaar Properties: Company Profile, viewed 17 November 2008, lt;https:// www.emaar.com/index.aspx?page=aboutgt;. [2] Ernest and Young (2007), Emaar Properties: Financial Report for 2007, Dubai, United Arab Emirates, p. 66. [3] Ernest and Young (ibid), p. 82. [4] Peterson, P D (2006), Financial Ratio Analysis, University of Ohio, Columbus, p.1. [5] Peterson, P D (ibid), p. 2. [6] Union Properties (2007), Earnings Statement Release 2007, Dubai, United Arab Emirates, par. 1. [7] Union Properties (ibid).

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Compare the techniques that Heckerling and Austen use to alert us to how we should view Cher and Emma Free Essays

Using the opening scenes of Clueless and the opening chapters of Emma, compare the techniques that Heckerling and Austen use to alert us to how we should view Cher and Emma. Both texts use various techniques to present the two heroines, Emma and Cher. Emma is presented to the responder as an omniscient text, presenting the responder with all the character’s opinions as well as Austin’s opinion, particularly concerning the social hierarchy of the era. We will write a custom essay sample on Compare the techniques that Heckerling and Austen use to alert us to how we should view Cher and Emma or any similar topic only for you Order Now We are first presented with Austin’s perspective in the opening chapter of the book, when Emma is described as â€Å"handsome, clever, and rich with a comfortable home and happy disposition†. As well as this submissive description the responder is also shown Emma’s faults as â€Å"having rather too much her own way, and a disposition to think a little too well of herself†. As a result of the text being presented majoritivly through third person creating an objective status, the responder is shown that Emma has selfish tendencies despite all her good intentions. This is demonstrated to the responder as the wedding of a friend, with whom Emma shared â€Å"the intimacy of sisters†, is described in the text as â€Å"a gentle sorrow†. Despite the happiness of Emma’s dearest friend, Miss. Taylor (now Mrs. Weston), Emma thinks only of herself and the unhappiness and emptiness that will be felt as a result of Miss Taylor’s absence in the Woodhouse’s home. The first paragraph sets the tone for the novel as the responder is forewarned of Emma having a crisis during the text, this is effectively projected by the inclusion of the word â€Å"seemed†. This shows the responder that Emma’s ‘perfect’ existence will be challenged throughout the novel, as her match making schemes fail with ominous (doomed) consequences. The description of Highbury shows the social status of Emma and her Father, â€Å"The Woodhouse’s were first in consequence there. All looked up to them. † The description of Emma is juxtaposed by the description of Mr. Knightley, â€Å"a sensible man about seven or eight-and-thirty†¦ a very old and intimate friend of the family†. This shows the composer’s intent to portray Emma as naive, young and self-orientated, as the two descriptions vary greatly as Mr. Knightley is portrayed as wise and â€Å"sensible†. The responder is further shown the father like figure of Mr. Knightley’s character when Austen tells that â€Å"Mr. Knightley, in fact, was one of the few people who could see faults in Emma Woodhouse, and the only one who ever told her of them†. The presence of Mr. Knightley in the first chapter and the inclusion of his disagreement with Emma over her involvement in the match of Miss Taylor and Mr. Weston, depicts to the responder Emma’s egocentric tendencies. The fact that Mr. Knightley, the wise and older character, implies that Emma merely â€Å"made a lucky guess†¦ likely to have done harm to yourself, than good to them, by interference†, influences the reader to view Emma as meddlesome and narcissistic (self-absorbed). Clueless is presented to the responder through a different medium, thus the composer, Amy Heckerling uses different techniques to portray the heroine, Cher. The main contrast between the opening chapters of Emma and the opening scenes of Clueless is the way in which the text is presented. Cher informs the responder as the main protagonist and narrator of the text. This allows the responder to empathise and affiliate a personal attachment with her, as they see only her perspective throughout the entire text. How to cite Compare the techniques that Heckerling and Austen use to alert us to how we should view Cher and Emma, Papers