Comparing the Brothers Antigone and Ismene in Antigone :: Sophocles

The personalities of the two sisters, Antigone and Ismene, are as different from one another as night and day. Antigone acts as a free spirit, a defiant individual, while Ismene is content to recognize her limitations as a woman in a male dominated society. In the Greek tragedy†Antigone", by Sophocles, Antigone learns that King Creon has refused to give a proper burial for the slain Polyneices, brother of Ismene and Antigone. Infuriated by this, Antigone shares the tragic news with Ismene. From her first response, "No I, haven’t heard a word"(13). Ismene reveals her passivity and helplessness in the light of Creon's decree. Thus, from the start, Ismene is characterized as traditionally "feminine", a helpless woman that pays no mind to political affairs. Doubting the wisdom of her sisters plan to break the law and bury Polyneices, Ismene argues: â€Å"Remember we are women, not born to contend with men .† (75) Once again Ismene's words clearly state her weak, feminine character and helplessness within her own dimensions. Antigone, not happy with her sisters response chides her sister for not participating in her crime and for her passivity, saying, â€Å"Don’t fear for me. Set your own life in order"(97) . For Antigone, no law could stand in the way of her strong consideration of her brother's spirit, not even the punishment of an early death. Ismene is more practical, knowing the task is impossible, she feels the situation to be hopeless. It is a wonder, which of the two sisters are really guilty of these chronic charges. Of course, Antigone acted so quickly, and failed to take the advice of the moderate sister, Ismene. Instead, going against Creon's words, Antigone rashly goes ahead and breaks the law. Antigone is a fool, she must learn that such defiance, even when justified, is not conductive to longevity. Although Antigone is foolish, she is also courageous and motivated by her morals. Proper burial of the dead was, according to the Greeks, prerequisite for the soul’s entrance into a permanent home. Therefore, perhaps Ismene is also foolish for her quick refusal to help Antigone perform the duty of Polyneices proper burial. Ismene definitely seems hasty in her acceptance of personal weakness. Perhaps in some way, both sisters are guilty of the same tragic sins. Perhaps it is this rashness, more subdued in Ismene's case that leads both sisters to their own destruction.

Oxfordshire Go Active Project Health And Social Care Essay

Over the old ages a positive correlativity between physical activity and wellness has been shown in many surveies. Physical activity has been known to forestall certain medical conditions like cardiovascular diseases, non-insulin-dependent diabetes mellitus ( NIDDM ) , Colon malignant neoplastic disease and it likely gives protection against osteoporosis and mental unwellness ( USDOHHS 1996 ) . There is 1.2-2.0 fold comparative hazard of mortality in sedentary people than in physically active population USDOHHS 1996 ) . There is a greater hazard of being unfit than being fit in populating a sedentary life style ( Blair et al 1989 ) . A five fold hazard of mortality in unfit adult females and a threefold hazard in inactive and unfit work forces compare to does that are most fit has been shown by Blair et Al. ( 1989 ) . Harmonizing to the WHO ( 2002 ) 6 % of all deceases for work forces and 6.7 % for adult females are cause by physical inaction in the developed universe. Too small phys ical activity has been shown to be the cause of 3.3 % and 3.2 % of all lost DALY every bit good as an estimated 33 % of all deceases from Coronary bosom disease ( CHD ) , colon malignant neoplastic disease and NIDDM ( Powell and Blair, 1994 ) . The bulk of population in most developed states like the UK is non as physically active as necessary from a wellness position point ( Engstrom, 1997 ) . Obviously there are several grounds for a society to advance physical activity and from a public wellness position PA has the potency to better the state ‘s wellness. Sedentary life has become a public wellness job particularly in the developed universe. This is chiefly due to people passing tonss of clip driving autos watching telecasting, playing electronic games and so on. Until of recent PA has non been in the bow forepart of national policy, nevertheless in the last decennary it is going recognized and it is mentioned in most of the national service frame works ( DOH 1999, DOH 2000 and DOH 2001 ) . Peoples are hence progressively encouraged and advised by the primary wellness attention in England to acquire involved in visible radiation or heavy physical activity plans through referral strategies ( Fox et al 1997, Riddock et al 1998 ) . In the UK it is the primary attention trusts ( PCT ) in coaction with Sports England who are the chief boosters and suppliers of such referral strategies and Oxford PCT is no freedom to this. Objectively the strategy is designed to assist keep the wellness and good being of the public and they recommend all grownups ( 16years and supra ) to accomplish at least a sum of 30 proceedingss a twenty-four hours of moderate to intensive physical activity on 5 or more yearss a hebdomad. In 2004 the Oxford shire PCT in acknowledging this vision made a corporate determination to travel towards a new county Sports partnership: ( a partnership which jointly includes a web of bureaus, groups and persons who are committed to accomplishing a shared vision for the county ) which is to better the physical activity degrees of their public through PA referral strategies. Sports England who was the first provokers of this alteration was willing to financially and logistically back up all the 49 counties ‘ athleticss partnerships within England under the umbrella of †GO Active † . The chief purpose of the Oxford shire Go active undertaking is to better the wellness and good being of the dwellers of Oxfordshire by increasing and widening engagement by grownups ( 16+ ) in athletics and active recreational plans. The partnership nucleus squad was approached by the Oxfordshire PCT in June 2007 for them to work together to debar the increasing dainty of fleshiness i n the community due to inaction. As a start the PCT allocated funding for two stations to this undertaking to acquire started in 2008 which will co-occur with the launch of the new †Oxfordshire Fleshiness Strategy Program † . The logic was to pull the two plans together under one streamer to maximise added value and impact while minimising cost on undertaking direction, selling every bit good as the cost monitoring and rating. This brings us to the chief subject of this thesis which is intended to measure the cost effectivity of this physical activity referral strategy: †The Oxfordshire Go-Active Undertaking † over a period of a twelvemonth since it was commissioned. The potencies of physical active to better the wellness of the state from a public wellness position have been copiously manifested and yet at that place have non been equal economic ratings of such PA intercessions. From experience, Jackie and Jane ( 2006 ) , have shown that people working in the wider field of public wellness does non see rating as their chief precedence and may even see it striping them of valuable clip that could be better utilized in bettering wellness. However late economic rating has become an built-in portion of most undertakings little or large due to the fact that most undertakings have legion interest holders all with different dockets, involvements and positions about what result constitutes a successfu l undertaking. Evaluation is designed to find the value or worth of an activity ( Graney 2002 ) .Chapter 2: LITERATURE REVIEW2.1 IntroductionThis chapter gives an overview of cardinal literature on the economic rating of physical activity referral strategies ( PARS ) or Exercise referral Schemes ( ERS ) . Over the past decennary the United Kingdom and most industrialized states have progressively recognized the function of physical activity in bettering public wellness and this resulted in a big figure of research and policy development aimed at physical activity publicity ( DOH 2004, DOH 2005, NICE 2006 ) . The function primary health care in undertaking increasing degrees of physical activity within the general population has late been reemphasized by the UK authorities ( Taylor A 2003 ) . US surgeon general ( 1996 ) reported on the chief effects of physical activity ( PA ) on wellness and disease and the effects highlighted were: lower entire mortality rates and lessening hazard of cardiovascula r mortality, colon malignant neoplastic disease and non insulin dependant diabetes ( NIDD ) . It was stipulated that regular PA besides delays or prevents high blood force per unit area ( HBP ) , reduces blood force per unit area in hypertensive sick persons and relieves the symptoms of depression and anxiousness. A meta analysis of PA in relation to the bar of coronary bosom disease ( CRD ) concluded that the comparative hazard of CRD in the least active compared to the most active is 1.9, Berlin et Al. ( 1990 ) . Physical activity in bettering the wellness and well-being of the people can non be ignored. The rational for this reappraisal is to determine what is known about such plans as respect to what benefits are gained, cost effectivity of intercessions and what indexs are used to mensurate effectivity ; qualitatively, quantitatively, morbidity or mortality rates or economically. The relevant literature will besides be used in all subdivisions of this thesis which is chiefly ge ared to measuring the cost effectivity of â€Å" Oxfordshire GO Active undertaking † run by Oxfordshire Primary Care Trust ( PCT ) . Literature from all facets and changing signifiers of PARS and or Erbiums from assorted parts of the universe were looked at and the sum of literature was poetry. The reappraisal standard was based on the PICOS system, Greenhalph ( 1997 ) and Oxman et Al. ( 1994 ) , so as to guarantee lucidity, quality, truth and cogency. In this reappraisal a sum of 15 undertaking documents on physical activity referral strategies were studied and a mix March of assorted survey types and plans were considered runing from: randomized control tests, systematic reappraisals, cost effectiveness Socio-demographic patterning of referral surveies, strategies to advance physical activity in grownups, community based exercising programmes, primary attention based referral strategies, ethnically based referral strategies and so on. Due to the big figure of research documents found the reappraisal for the intent of thesis sweep from 1998 to 2010. A survey by Stevens et Al. ( 1998 ) did a cost-effectiveness analysis of a primary attention based physical activity intercession in the 45-74 twelvemonth old work forces and adult females in London. In the survey two west London general patterns ( GP ) together with an exercising development officer ( EDO ) invited 714 inactive people aged 45-74 to their audiences and offered them a individualized 10 hebdomad physical activity ( PA ) plan to increase their degree of exercising ; through combined place based and leisure Centre activities. The chief aim was to measure the cost effectivity of the intercession ; by comparing the cost of the PA in intercession group to that of the control group. The control group was merely sent information on local leisure centres. The initial choice procedure involved directing self assessment questionnaires to everyone in the surgery list aged between 45-74 old ages. The questionnaire asked for basic demographic informations ; ( instruction, ethnicity, matrimonial position and socioeconomic activity ) and a self appraisal of the figure of episodes of either mild or vigorous PA undertaken for at least 20 proceedingss per hebdomad in the last 4 hebdomads. A list of moderate activities including alert working, heavy horticulture, cycling for pleasance. Heavy DIY and swimming for leisure were given and vigorous activities like jogging/running, competitory athleticss, swimming lengths briskly, mounting stepss and fast cycling were included in questionnaire. Out of 2253 baseline questionnaires sent 1288 ( 57 % ) were returned of these 63 % were adult females and 46 % work forces, 827 were inactive, 113 excluded on medical evidences and the 714 left were randomized into 363 for intercession and 351 as control. Exercise development officer ( EDO ) through the GP invited the intercession group to a audience in a local leisure Centre. At the first audience merely 126 attended, 2nd audience 91 came and after 8 months 200 returned the follow up questionnaire. The control group, ( who were merely sent exercising publicity stuffs but non invited for any audiences ) , returned 215 questionnaires for the 8 months follow up appraisal. The consequences after 8 hebdomads showed a net 10.6 % ( 95 % Confidence Interval ( CI ) 4.5- 16.9 ) decrease in sedentary life and a corresponding increased 1.52 episodes of PA ( 95 % , CI 1.14 -1.95 ) among the intercession group. Response rate was highest in topics aged 65-74 old ages old ( 64 % ) followed by 55-64 twelvemonth olds ( 54 % ) and the youngest group 45-54 twelvemonth olds ( 37 % ) Stevens et Al. ( 1998 ) calculated the cost of each single intercession to be about ?650 pieces the cost of traveling person from the control group to the recommended degree of PA would be about ?2500, a difference of ?1750. However Steven et Al. ( 1998 ) realized the cost of the enlisting procedure is the highest hence a high uptake rate of participant would cut down cost markedly. However the bettering wellness additions of PA reduced mortality rate ( particularly from cardiovascular conditions, colon malignant neoplastic disease and diabetes ) , Regular PA besides delayed HBP, reduced BP in hypertensive sick persons and releases symptoms of depression and anxiousness. Statistically the Two by Two tabular arraies applied to compare the sedentary topics for intercession and the control group in the survey. The 95 % CI calculated utilizing the formulary: antilog ( log OR + 1.96SE ) where the standard mistake ( SE ) = ( 1/A+1/B +1/C +1/D ) 1/2 for a standard two by two tabular array. In ciphering the cost effectivity three steps were used: First the cost of bring oning one sedentary individual to set about more physical activity ( the chief intended out semen of the test ) was calculated and found to be ?623 per individual. Second the cost of traveling person who is active but below the lower limit needed PA degree was calculated and cost at merely under ?2500 per individual. Third the cost of accomplishing any addition in an persons degree of PA cost ?327 to motion to a higher group or less so ?200 for an absolute addition in PA. The survey undertaken by Steven et Al. ( 1998 ) has shown that it is possible to cut down sedentary life at a moderate PA strength in work forces and adult females between 45-74 through a primary attention trust based intercession. The enlisting procedure has besides been observed as the most of import facet of the intercession and they concluded that maximising cost effectivity is reciprocally relative to a higher uptake rate, the higher the uptake the more cost effectual the intercession. Another cost effectivity survey carried out by Munro et Al. ( 2004 ) at the university of Sheffield, was a clustered randomised test of a community based exercising plan in the over 65 twelvemonth olds in Sheffield. The chief aim of this survey is to measure how cost effectual a community based exercising plan for older grownups is as a population broad public wellness intercession. The survey was based on the rule that those with active life styles enjoy better physical and mental wellness than sedentary people, Fentem et Al. ( 1998 ) and Nicholl et Al. ( 1994 ) . The benefits of exercising in the aged over 65 old ages were assumed to include improved cardiovascular position, functional ability and mental operation every bit good as decreased hazards of ; CHD, shot, hip breaks, mortality rate, type II diabetes and depression, ( Paffenbarger et al. 1993, Morris et Al. 1973, Solonen et Al. 1982, Herman et al. 1983, Boyce et Al. 1988 and Wickham et Al. 1989 ) . In add-on to some of the expected additions in mortality and nest eggs from reduced usage of wellness services there is an estimated cardinal cost per Quality Adjusted Life Years ( QALY ) of a‚ ¬17,172, ( Raftery J. NICE:2001 ) . Twelve pattern list all patients with day of the month of birth before 1/4/1930In this survey 13 patterns in Sheffield were ab initio approached to take part but one opted out. The staying 12 patterns who agreed to take part, four were indiscriminately selected as intercession group ( through a computing machine random totaling plan ) and the staying eight patterns were allocated as vitamin E control. All people aged 65 or over were sent a base line postal physical activity Questionnaires ( PAQ ) , for the aged ( Vorrips et al. 1990 ) to find their current degree of accustomed PA and general wellness position utilizing ( SF-36 ) . Those with PA mark of fewer than 20 % were notified and allowed to take part. Letterss from the research squad were sent to respondents run intoing the inclusion standards ask foring them to bespeak an involvement in go toing local exercising Sessionss twice hebdomadally. To get down with 9897 people ( those born on the 1st of April 1930 ) were sent the baseline study letters, 8117 ( 82 % ) of them completed the studies, 126 ( 1.2 % ) went off, there was no response from 1461 ( 14 % ) and 192 ( 2 % ) refused to finish the study signifiers. Out of the 8117 people who completed the studies 29 of them died before the 1st of August 1995, the most active 1612 and an 56 losing active mark were excluded go forthing 6420 least active people to be randomized as 2283 topics in intercession group and 4137 people in the control group. By the terminal of the intercession period 590 ( 26 % ) of those invited attended at least one session and the staying 74 % ( 1693 ) attended nor session at all. However it is of import to observe that the test had twice every bit many controls as intercessions and the ground for this is because the comparative cost of including controls was much smaller. After the survey design was in topographic point and allotments done to put to death the survey a timetable was arranged and a 2nd missive sent to all respondents ask foring them to the first session. This survey was similar to the 1 by Steven et Al. ( 1998 ) but the difference was the manner the intercession was introduced to the participants. It really clearly spelt out as a locally organized free twice hebdomadal exercising categories for the participants for two old ages. Besides the benefits to be derived and the chief purpose of the undertaking were clearly stated. The scope of activities on offered were clearly noted in with a specified clip edge ( 75minutes ) ; 45 proceedingss allocated for physical activity and the staying 30 proceedingss spent on other leisure and gratifying activities like: bowling, swimming, state walking, and tea dances. The locale for most categories were to be held in church halls, community centres and or sometimes in residential places. In a nut shel l the intercession was matter-of-fact, specific, inexpensive and easy organized for a big population by a public wellness bureau. The economic analysis was taken from a wellness service position and designed to make a wellness use analysis ; comparing costs and benefits of the intercession, as sing QALY, to other purchased wellness services on offer. The result nevertheless provided adequate counsel to the policy shapers in offering exercising to the aged with the apprehension that most of the cost involved was from enlisting, disposal, payment to exercising leaders, the locale, participant ‘s clip spent and refreshment. The one-year cost of the exercising was about ?128,302 giving a average cost of about ?125.78 and a cost per attendant per session of ?9.06 ( i.e. a sum of 2040 Sessionss were done in the two old ages, ensuing into 27 800 individual Sessionss with an estimated cardinal cost of ?267,033 ) . There was purpose to handle ( ITT ) for no topic was to be excluded from the survey by their general practicians. However QALY benefits were merely calculated based on 3149 participants who completed the SF-36 at all three appraisals ( 2097 control and 1052 intercession ) so in ciphering QALY three different attacks were examined: Entire cost of plan divide by the QALY gained for study completers merely ( i.e. n = 1052 ) ; Entire cost for study completers merely divided by their QALY addition ( i.e. n = 1052 ) , and the entire cost divided by QALY gained presuming all the participants in the intercession arm experience the mean addition ( i.e. n = 2283 ) . The entire cost of â€Å" merely the study completers † divided by QALY gained ( n=1052 ) was assumed to be the cardinal estimation and when combined with the cardinal cost estimation it yields a average cost per QALY of ?17,172 ( 95 % ) CI = ( 8300 – 87115 ) . When these premises were changed it resulted into the cost effectivity of the exercising plan varying between ?4 739 and ?32 533 per QALY, Munro et Al. ( 2004 ) , Mortality rate was down following the 2-3 old ages intervention period but non by a important border, statistically ( p = 0.50 ) Munro et Al. ( 2004 ) . Between the intercession and control group there was no important difference in the usage of wellness services and the intercession group were estimated to hold less diminution in wellness than the control, ( Munro et al. 2004 ) . To reason it was recommended that for a more accurate appraisal of the plan to be undertaken the follow up period has to be extended and the trouble in quantifying the cost of QALY must be appreciated for merely a good estimation can be made. However it is believed that the cost uncertainness could be reduced with higher degrees of participants and lower degrees of losing informations ( Munro et al. 2004 ) . The plan farther supported Morris ‘ contention that †exercise is a best bargain † in public wellness footings ( Morris, 1994 ) and besides as envisaged by the UK ‘s National Services Framework for older people ( DOH 2001 ) and it might be developed into a worthwhile consequence. Another more recent survey on the cost effectivity of a community-based physical activity intercession was carried out in the United States by Larissa et Al. ( 2008 ) . The background of this survey emphasized the association of PA with the addition hazard of many chronic diseases and with the premise these hazards lessening with increasing physical activity. The survey was a PA publicity intercession among American grownups, conducted from a social position and intended to gauge the life-time costs, wellness additions and cost effectivity ( Dollars per QALY gained ) compared to no intercession. The difference between the sum expected cost of intercession and the sum expected cost of no intercession would be the cost effectivity ; which is the ratio of the incremental costs ( dollars ) to incremental QALY. The incremental QALYs are the differences between entire expected QALYs associated with the intercession and those associated with no intercession. The cost effectivity analysis was of a cohort survey of US grownups who were aged 25 -64 by 2004 and were stratified by age, gender and degree of physical activity. The standard for inclusion is for: All cohort members at the beginning of the survey to be good ( i.e. to be free from the five most common diseases associated with physical inaction ( i.e. CHD, Ischemic shot, type 2 diabetes, chest malignant neoplastic disease and colorectal malignant neoplastic disease ) USDHHS ( 1996 ) , Kasaniemi et Al. ( 2001 ) ; An elaborate survey protocol for bing must be available ; PA outcome step must be available and a survey period of at least 3 months must be carried out. Seven intercession surveies were chosen: usage of personal trainers, standard behavior-therapy Sessionss, fiscal inducements, phone calls to participants to increase PA, school based plans or the 6years Stanford five metropolis integrated community based wellness instruction intercession for bettering PA through mark poster, media, community walking events and worksite were used. The cost effectivity of each intercession was estimated utilizing methods consistent with the guidelines established by the panel on cost-effectiveness in wellness and medical specialty Gold et Al. ( 1996 ) . The life-time costs were projected in both life-years ( endurance ) and QALYs associate with the seven evaluated PA publicity intercessions and with the non intercessions scenario. The mean comparative public presentation of each intercession was assessed compared to no intercession utilizing the ration of any extra expected cost of each plan. The figure of disease averted were besides estimated and one-way, bipartisan and probabilistic sensitiveness analysis conducted to assist find the hardiness of the concluding consequences. The mean individual old ages cost effectivity of the seven wellness publicity intercessions cumulated over a 40 twelvemonth clip skyline for the whole US population, aged 25-74years were summarized and reported. The deliberate norm discounted quality adjusted life anticipation ( QALE ) was 14.77 old ages and the entire life clip costs were approximately $ 195,000. Engagement in the intercessions per hebdomad improved the mean QALYs by 0.7 to 5.3. and these are tantamount to 0.014 to 0.102. ( i.e. 14.781-14.767 to 14.869-14.767 ) comparison to no intercession. Those participants in the enhanced entree intercession group by Linenger ( 1991 ) with the highest ( 0.102 ) and those in the community broad run survey by Young ( 1996 ) with the least addition ( 0.014 ) addition QALYs. The Participants of the societal support schemes intercession group, studied by Lombard ( 1995 ) had QALE of 14.79 old ages and a cost of $ 27,370 per QALY gained comparative to no intewrvention. In another inte rcession ; PA constituent of diabetes bar group ; â€Å" separately adapted wellness behaviour changed † studied by Knowler ( 2002 ) had a cost effectivity ratio of $ 46,910 when compared to no intercession. It was evident all the intercessions reduced diseases incidence and the decrease ranged from 5 to 15 instances per 100,000 for colorectal malignant neoplastic diseases ; 15 to 58 instances per 100,000 for chest malignant neoplastic disease ; 59 to 207 instances per 100,000 for type 2 diabetes and to every bit many as 140 – 476 instances per 100,000 for CHD. Ischemic stroke which is really much age related did non follow the same decrease tendency, likely due to increase in length of service by the intercessions. One interesting observation was that as the analytical clip skyline was shortened the higher the cost of QALY gets eg cost of QALY ( when the clip skyline reduced from 40-years to 10-years, in Lambard ‘s societal support intercession ) increased form $ 27,000 to $ 147,000. This literature reappraisal found illustrations of cost effectual analysis intercessions from assorted parts of the universe and they all seem to be based on either advice, behavior alterations, exercising or a combination of them. Evidence of cost effectivity in intercessions aimed at those whose merely hazard factor for unwellness was sedentary life style was missing. However, even though limited, there is more grounds for the cost effectivity of intercessions aimed at bad groups or those who manifest hapless wellness related to physical wellness. For a much better and a complete cost effectual analysis of publicities of PA intercessions to be achieved it is indispensable to near it from a social position ; e.g. is the intercession gratifying, is it making new friends, and is it bettering the mental and physical wellness of the people every bit good as their socioeconomic well-being. This becomes hard and more or less impossible due to miss of resources ; quantitative and qualitati ve informations and non plenty follow up clip is usually allotment.

FINANCIAL ANALYSIS REPORT OF DOMINOS PIZZA - Free Essay Example

Sample details Pages: 4 Words: 1238 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? This provides the portion of the current liability of Dominos Pizza Group which can be settled with its current assets earnings. This shows the ability of Dominos to meet its short-term debt contracts with the available current liability as the fall due. From the above table, Dominos Pizza Group had a current ratio of 0.69 in 2009 as compared to the 1.01 and 0.92 in years 2008 and 2007 respectively. The 0.69 in year 2009 shows that Dominos is not liquid enough to meet its short term debt obligations as at 2009 despite it being better than the SHS Pizza Ltd at 0.18 times in the same year. With its brilliant performance in year 2008 at 1.01times, in 2007 it went slightly below its ability to cover the current liability with its current assets at 0.97 times unlike the SHS Pizza ltd which had a better performance in ratio of 1.29 times in 2007. (Tracy J,2008 P287). Don’t waste time! Our writers will create an original "FINANCIAL ANALYSIS REPORT OF DOMINOS PIZZA" essay for you Create order Liquidity Ratio Company 2009 2008 2007 Dominos Pizza 0.64 0.97 0.85 SHS Pizza Ltd 0.12 0.16 1.17 The ability for Dominos Group to repay short-term creditors out of its available total cash is less than the general threshold of 1.00. In 2007, Dominos had a liquidity ratio of 0.85 and increased to 0.97 in 2008 but fell drastically in 2009. Comparatively, its mirror company, the SHS Pizza limited performed better being able to cover its short term liabilities fully by 1.17x in 2007. However, SHS Pizza ltd also had a drastic fall from 1.17x in 2007 to 0.16x and 0.12x in 2008 and 2009 respectively. (www.advfn.com) Capital Structure and Solvency Gearing (%) Company 2009 2008 2007 Dominos Pizza 413.87 321.59 435.34 SHS Pizza Ltd 988.47 665.44 175.68 From the balance sheet of Dominos plc, it can be seen that it had a long term debt of 18million in 2007 which reduced further to 9million in 2007 and was eventually cleared in 2009. On measuring the amount of capital that is borrowed, the gearing ratio for Dominos Pizza as at 2007 was 435.34% falling slightly to 321.59% and 413.87% in 2008 and 2009 respectively. With this high gearing, it indicates that the proportion of Dominos group borrowed capital is high. However its mirror company, the SHS Pizza ltd had a reasonably lower gearing ratio of 175.68% in 2007 increasing significantly to 988.47% in 2009. These figures show how prone both Dominos Group and SHS pizza ltd is to financial distress. Borrowing is a risk to Dominos because of the associated high interest payables and therefore Dominos will be in a dangerous position if the interest rate increases. (www.bized.co.uk). Interest Cover Company 2009 2008 2007 Dominos Pizza 62.00 30.25 41.72 SHS Pizza Ltd n/a n/a n/a Talking of interest, the interests cover for the Dominos group has improved significantly over the last three years. In 2007 it had 41.72x but dropped to 30.25x in 2008, it later got better in 2009 with a 62x cover. This is a good indicator that Dominos group is able to pay its interest with its available operating profit. This significant improvement could be as a result of effective control of Dominos expenses and the consistent increase in turnover of 92,018 in 2007 to 128,076 in 2009. (www.bized.co.uk). Operating Efficiency Stock Turnover Company 2009 2008 2007 Dominos Pizza 54.99 52.07 44.67 SHS Pizza Ltd n/a n/a n/a As at 2007, Dominos Pizza plc had a stock turnover of 44.67days. It began to increase to 52.07 days in 2008 and again increased further to 54.99 days in 2009. This means that it is holding stock for longer than the previous years and could consequently increase the cost for holding these stocks. It is therefore important that the Dominos Pizza Group improves on its stockholding period so as to reduce its associated costs. All other things being equal, as Dominos products is food and can easily spoil, it is necessary that the stockholding period be reduced to avoid bulk waste of products and as a result material costs. Debtor Collection (days) Company 2009 2008 2007 Dominos Pizza 7.34 11.11 14.71 SHS Pizza Ltd n/a n/a n/a Dominos Pizza was able to get cash from its debtors within 14.71 days in 2007, in 2008 it was able to retrieve 11.11days whereas in 2009 was 7.34 days. From the above table, Dominos Group has been able to maintain a healthy improvement in its debtors collection days from 14.71days in 2007 to 7days in 2009. It is therefore important that customers of Dominos Pizza pay earlier so that this can be used to pay-off it trade creditors on time as well. Creditors Payment (days) Company 2009 2008 2007 Dominos Pizza 23.84 21.54 21.40 SHS Pizza Ltd n/a n/a n/a Dominos Pizza Group has been able to maintain a longer period in paying of its creditors. In 2007, it took about 21.40 days for Dominos Group to pay of its creditors. This further increased to 23.84 days in year 2009. If Dominos is able to get more credit period, it will be able to use the available funds to maintain growth until the payment period is dew. Despite it being a good business practice for Dominos Group to get longer payment period in settling its debt, it is also ethical that it pays it debt on or before time. Profitability Turnover The Dominos Pizza has sustained turnover growth for the past three years rising from 92,018 in 2007 to 128,076 in 2009. The turnover is entirely the sale made from the United Kingdom with a zero sales from oversees for the whole three years. The increase in sales was basically due to a higher demand of Dominos Pizza in the UK whereas the Zero sales in the overseas is as a result of unawareness of the Dominos Pizza in the oversees. Profit Margin (%) Company 2009 2008 2007 Dominos Pizza 24.05 18.43 18.32 SHS Pizza Ltd n/a n/a n/a www.fame.bvdep.com From the table above, the Dominos Pizza has been able to maintain a profit margin of 18.32% in 2007 and growing further to 24.05% in 2009. This is as a result of the efficient control of the cost of sales and other expenses like the administration expenses for the past three years plus an outstanding increase in revenue from 92,018 in 2007 to 128,076 in 2009. (Kimmel PD, etal (2008) Accounting p243). Gross Margin (%) Company 2009 2008 2007 Dominos Pizza 41.05 39.74 39.94 SHS Pizza Ltd n/a n/a n/a Similarly, changes in the gross margin will be as a result of changes in the Dominos Pizza group turnover and cost of goods sold. From the above table and diagram, we can see that the year 2007 had a gross margin percentage of 39.94% slightly dropped to 39.74% in 2008 and later rose to 41.05% in 2009. The cost of sale comprised of 60.6% in sale as at 2007 and a 59% in 2009. In the same period there was no information disclosed for public use for its mirror company, the SHS Pizza. Return on Capital Employed (%) Company 2009 2008 2007 Dominos Pizza 112.58 149.71 418.60 SHS Pizza Ltd n/a n/a n/a In 2007, Dominos Group had a good return on capital employed of around 418.60%. Despite the slight reduction, it continued to maintain a higher than 100% ROCE in the years 2008 and 2009 with 149.71% and 112.58% respectively. However using the ratio pyramid, the product of net assets turnover and the profit margin will give us the Return on Capital Employed. This is depicted in the table below; Calculation of the Return on capital employed 2009 2008 2007 Net Assets Turnover 4.68 8.12 22.85 Profit Margin 24.05 18.43 18.32 Return on Capital Employed 112.55 149.65 418.61 Here, any change on the return on capital employed comes as a result of change in either the net assets turnover or the profit margin. From the above, it is the constant fall in the net assets turnover from the 22.85 in 2007 to 4.68 in 2009 which contributed to the fall in the ROCE from 418.6% in 2007 to 112.5% in 2009. On the other side, the profit margin continued to maintain improvement. The averagely high performance in ROCE indicates that, Dominos make good use of its assets well in profit creation. (Bedward and Strdwick 2004 p53)