Abortion and Reproductive Choice

Standards For Power Electronics ( Ansi ) - 2392 Words

Standards for Power Electronics Gration D’silva Dept. of Electrical and Computer Engineering Texas Tech University, Lubbock, TX 79401 USA Telephone: (806) 773-4727; E-mail: gration.dsilva@ttu.edu Abstract— this paper presents a brief overview of standards for power electronics. All the standards presented in this paper are currently active and are approved by the Institute of Electrical and Electronics Engineer Standards Association (IEEE-SA) and American National Standards Institute (ANSI). Keywords—IEEE Standards, ANSI, Power Electronics I. INTRODUCTION The tremendous advancements in modern technology have necessitated the regulation of these technologies so that they meet the required threshold as set by the standardization bodies like the Institute of Electrical and Electronics Engineer Standards Association (IEEE-SA), American National Standards Institute (ANSI). Whenever a new product is launched it has to meet the standards so that they perform as intended. This is very important for the safety of the users and their environment, facilitate interoperability, uniformity in design, testing methods, installation and help make our lives easier. The purpose of standards is to establish certain quality to meet technical, safety, societal, regulatory and market needs. Also standards are the catalysts for technological innovation which are developed based on guiding principles of consensus, due process and within the ethical limits [1]. Standards help making our livesShow MoreRelatedEssay on Cis 5051642 Words   |  7 PagesSelect one (1) of the working groups in the IETF or IEEE and briefly summarize what this group is working on. â€Å"Working groups chartered by the IETF carry out the actual development of new standards and protocols for the Internet. Membership in a working group is voluntary; any interested party may participate. 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Journal assignment mechanistic Free Essays

These systems and their parts do not have purposes of their own. They have essential parts that make the whole to function for example, a clock that operates by being dictated by its internal structure and automobile which serves its purpose of driver and passenger and it can not move by its own without the driver. Mechanistic can be open if it is affected by external events or closed if unaffected by external conditions. We will write a custom essay sample on Journal assignment mechanistic or any similar topic only for you Order Now For example, earth is an open system because its movement is influenced by other bodies in the solar system. ORGANIC SYSTEM These are purposeful systems whose parts cannot function on their own. The purpose for the system is survival. For example, lungs cannot survive on themselves but they extract oxygen from the environment for the person to survive. In order for organic system to survive they must interact with the environment and understand the properties and behavior (Morgan, 1996) Organizations or groups which we belong to are mechanistic This is because there is distribution of tasks and duties are shared among members of the group. People specialize in what they can perform best and in areas where they can be most productive for the benefit of the whole group or organization. Every individual aims at improving the assigned job rather than accomplishing it. Rights and regulations are well defined in order to make sure that each members demand is taken care of. There are technical methods of productions which includes the use of modern technology in production to offer quality goods and services. The structure of control is hierchial based on knowledge where the managers are the most experienced people and other follow. At the top we have reconciliation and assessments of tasks that are perform to ensure they are done to the desired standards. The communication is vertical, which is between superior and subodinates and instructions are issued by superiors who also make decisions. One condition of group membership is being loyal and obedience to the superiors. Examples are: cyber cafà © that offer computer based services like internet, typing and printing. There are Automobile factories that buy and sell vehicles and a club store. HOW RAPID CHANGE AFFECT VARIOUS TYPES OF ORGANIZATION There will be insecurity and fear of the unknown because, the organization does not known what will follow after the rapid change and is not certain of its existence in future. If rapid change occurs in an informal group, it can cause the individual group to be transferred. There will be economic loss due to lay off of staff due to change in automation or computerization. Inconveniencies will arise if the new techniques have to be learned because it will require money and time in order to learn them. The employees will feel that they have no control over their destiny and are not certain of their tomorrow whether they will still be working. This will make them loose morale in their work because they are not motivated. HOW RAPID ECHNOLOGICAL/TELECOMMUNICATION/ECONOMIC CHANGE AFFECT THE FOLLOWING FIRMS Auto manufacturer Change will transform processes through which inputs which include labor and raw materials are converted into finished goods and services. This will result to new goods being produced by use of significant innovation process that required a lot of money to implement it. Consumers will need to be contacted through sales promotion which can be done by use of television in order to create awareness about the new improved product that serve the taste and preference of consumers.(Schein,1992) Television firms If the economy goes up, the firm will charge large amount of money for advertisement and because people prefer low price, the number of customer who will use the service will be few making the firm to have reduced revenue from its services. People will prefer to use modern television technology therefore the firm will have to install it which can be costly and may not have been budgeted from the beginning. The purchase price of modern technology of television is expensive and requires ample time to buy it. A university This will result to change in everything including the organization structure. New departments will come up and new faculties. New lecturers will be required or training for the already existing ones. Payment of employees will go up and this will also result to rise in fees to be paid by all the students. The subject combination of all the students will have to change and some will feel that they will have to transfer to other universities that offer the subjects of their choice. There will be numerous challenges due to need for more opportunities to do research to be in line with the change. Due to change, new managers will need to be employed and this will require additional finance. The things that will have been preserved so that they can be used in future will have to be changed and this is total loss because they are durable and will not be of any more use. State employment and job training corps State funds will be used to implement change because there will be need for skill upgrading of employees in the state. The state initiatives will have to avail retraining programs in the use of the new technology. These changes will lead to job displacement and job changes because some positions will be of no more use and will need to be replaced. (Schein) There will be job training committee that will be selected and training corps who will provide special programs on technological change to let the union officials respond to change effectively. This training will be made more accessible, convenient and cheap. A small rural Baptist church Rapid technological change will affect mission work because the machines used to amplify sound will need to be changed and use more improved ones which may be expensive to buy. The language used in churches will need to be improved from vernacular to national and international language in order to avoid racial discrimination and reach the gospel everywhere. Media will need to be used to preach the gospel and this will require money to pay for TV programs. PTA for elementary school in a neighborhood where most parents work in the tourism and travel industry The school will have to install the new technology which will require a lot of money. Failure to this, most parents will transfer their children to school where there is new technology. This change in technology will affect parent who are not able economically to pay for the new technology. The school will need to employ new teachers who have experience in the new technology. The students will need to change some subjects and learn new ones which require extra effort and more time. ADVANTAGES OF TOP-DOWN ORGANIZATIONS The organization focuses on utilization of resources which is from individual managed application. The available resources are put into profitable use and none of them is wasted. This leads to high quality output produced at reduced cost. The management looks for solution of all the processes to be carried out to make sure that the mission and vision of the organization is achieved through proper planning of all the activities to be carried out. When phases for management application are completed, a deeper and more mature implementation will be established for identity in management solution. The maintenance and operation resources in top-down organizations are not impacted severely in the beginning. Their visibility is high because everybody is able to observe changes as they happen in their place of work and also observe the shared values in the organization.(Morgan) There is confidence because, team get the opportunity to experiment new practices due to the backing of sponsors. Transparency is observed and mistakes are collected at initial stages and practices are consistent with the vision of the company. ADVANTAGES OF MORE ORGANIC ORGANIZATIONS Collective marketing enable farmers enjoy benefits of economies of scale because buyers want to deal with organizations rather than individual farmers. Training is provided on organic production to ensure that products are of high quality and meet the desired standards in order to generate more revenue. The organization is able to comply with international standards required to be met   for the product to be consumed. Sample inspection is done on few farmers and this helps to reduce the cost of certification that could have been done on individual farmers. Consumers are willing to pay more for organically produced goods and services because they belief they are the best and they enjoy competitive advantage in marketing because their products are well known to customers. WHICH OFFER THE MOST UPWARD MOBILITY FOR EMPLOYEES Top-down organization offers upward mobility of employees because the encourage employees to work hard and give rewards to employees based on performance. The management is also accountable for staffing and experienced staffs are recruited to do the job. The employees turn over is low because of various promotions given to employees once they stay for sometime in the organization. There is no discrimination and all employees are treated equally with no favors. REFERENCES Gareth Morgan; Images of Organizations; Sage publications; 1996 Edger Schein; Organizational Culture and Leadership; Jossey-Bass; l992                         How to cite Journal assignment mechanistic, Essay examples

Journal assignment mechanistic Free Essays

These systems and their parts do not have purposes of their own. They have essential parts that make the whole to function for example, a clock that operates by being dictated by its internal structure and automobile which serves its purpose of driver and passenger and it can not move by its own without the driver. Mechanistic can be open if it is affected by external events or closed if unaffected by external conditions. We will write a custom essay sample on Journal assignment mechanistic or any similar topic only for you Order Now For example, earth is an open system because its movement is influenced by other bodies in the solar system. ORGANIC SYSTEM These are purposeful systems whose parts cannot function on their own. The purpose for the system is survival. For example, lungs cannot survive on themselves but they extract oxygen from the environment for the person to survive. In order for organic system to survive they must interact with the environment and understand the properties and behavior (Morgan, 1996) Organizations or groups which we belong to are mechanistic This is because there is distribution of tasks and duties are shared among members of the group. People specialize in what they can perform best and in areas where they can be most productive for the benefit of the whole group or organization. Every individual aims at improving the assigned job rather than accomplishing it. Rights and regulations are well defined in order to make sure that each members demand is taken care of. There are technical methods of productions which includes the use of modern technology in production to offer quality goods and services. The structure of control is hierchial based on knowledge where the managers are the most experienced people and other follow. At the top we have reconciliation and assessments of tasks that are perform to ensure they are done to the desired standards. The communication is vertical, which is between superior and subodinates and instructions are issued by superiors who also make decisions. One condition of group membership is being loyal and obedience to the superiors. Examples are: cyber cafà © that offer computer based services like internet, typing and printing. There are Automobile factories that buy and sell vehicles and a club store. HOW RAPID CHANGE AFFECT VARIOUS TYPES OF ORGANIZATION There will be insecurity and fear of the unknown because, the organization does not known what will follow after the rapid change and is not certain of its existence in future. If rapid change occurs in an informal group, it can cause the individual group to be transferred. There will be economic loss due to lay off of staff due to change in automation or computerization. Inconveniencies will arise if the new techniques have to be learned because it will require money and time in order to learn them. The employees will feel that they have no control over their destiny and are not certain of their tomorrow whether they will still be working. This will make them loose morale in their work because they are not motivated. HOW RAPID ECHNOLOGICAL/TELECOMMUNICATION/ECONOMIC CHANGE AFFECT THE FOLLOWING FIRMS Auto manufacturer Change will transform processes through which inputs which include labor and raw materials are converted into finished goods and services. This will result to new goods being produced by use of significant innovation process that required a lot of money to implement it. Consumers will need to be contacted through sales promotion which can be done by use of television in order to create awareness about the new improved product that serve the taste and preference of consumers.(Schein,1992) Television firms If the economy goes up, the firm will charge large amount of money for advertisement and because people prefer low price, the number of customer who will use the service will be few making the firm to have reduced revenue from its services. People will prefer to use modern television technology therefore the firm will have to install it which can be costly and may not have been budgeted from the beginning. The purchase price of modern technology of television is expensive and requires ample time to buy it. A university This will result to change in everything including the organization structure. New departments will come up and new faculties. New lecturers will be required or training for the already existing ones. Payment of employees will go up and this will also result to rise in fees to be paid by all the students. The subject combination of all the students will have to change and some will feel that they will have to transfer to other universities that offer the subjects of their choice. There will be numerous challenges due to need for more opportunities to do research to be in line with the change. Due to change, new managers will need to be employed and this will require additional finance. The things that will have been preserved so that they can be used in future will have to be changed and this is total loss because they are durable and will not be of any more use. State employment and job training corps State funds will be used to implement change because there will be need for skill upgrading of employees in the state. The state initiatives will have to avail retraining programs in the use of the new technology. These changes will lead to job displacement and job changes because some positions will be of no more use and will need to be replaced. (Schein) There will be job training committee that will be selected and training corps who will provide special programs on technological change to let the union officials respond to change effectively. This training will be made more accessible, convenient and cheap. A small rural Baptist church Rapid technological change will affect mission work because the machines used to amplify sound will need to be changed and use more improved ones which may be expensive to buy. The language used in churches will need to be improved from vernacular to national and international language in order to avoid racial discrimination and reach the gospel everywhere. Media will need to be used to preach the gospel and this will require money to pay for TV programs. PTA for elementary school in a neighborhood where most parents work in the tourism and travel industry The school will have to install the new technology which will require a lot of money. Failure to this, most parents will transfer their children to school where there is new technology. This change in technology will affect parent who are not able economically to pay for the new technology. The school will need to employ new teachers who have experience in the new technology. The students will need to change some subjects and learn new ones which require extra effort and more time. ADVANTAGES OF TOP-DOWN ORGANIZATIONS The organization focuses on utilization of resources which is from individual managed application. The available resources are put into profitable use and none of them is wasted. This leads to high quality output produced at reduced cost. The management looks for solution of all the processes to be carried out to make sure that the mission and vision of the organization is achieved through proper planning of all the activities to be carried out. When phases for management application are completed, a deeper and more mature implementation will be established for identity in management solution. The maintenance and operation resources in top-down organizations are not impacted severely in the beginning. Their visibility is high because everybody is able to observe changes as they happen in their place of work and also observe the shared values in the organization.(Morgan) There is confidence because, team get the opportunity to experiment new practices due to the backing of sponsors. Transparency is observed and mistakes are collected at initial stages and practices are consistent with the vision of the company. ADVANTAGES OF MORE ORGANIC ORGANIZATIONS Collective marketing enable farmers enjoy benefits of economies of scale because buyers want to deal with organizations rather than individual farmers. Training is provided on organic production to ensure that products are of high quality and meet the desired standards in order to generate more revenue. The organization is able to comply with international standards required to be met   for the product to be consumed. Sample inspection is done on few farmers and this helps to reduce the cost of certification that could have been done on individual farmers. Consumers are willing to pay more for organically produced goods and services because they belief they are the best and they enjoy competitive advantage in marketing because their products are well known to customers. WHICH OFFER THE MOST UPWARD MOBILITY FOR EMPLOYEES Top-down organization offers upward mobility of employees because the encourage employees to work hard and give rewards to employees based on performance. The management is also accountable for staffing and experienced staffs are recruited to do the job. The employees turn over is low because of various promotions given to employees once they stay for sometime in the organization. There is no discrimination and all employees are treated equally with no favors. REFERENCES Gareth Morgan; Images of Organizations; Sage publications; 1996 Edger Schein; Organizational Culture and Leadership; Jossey-Bass; l992                         How to cite Journal assignment mechanistic, Essay examples

Top Down Analysis And Bottom Up Analysis Of Rio Tinto and BHP

Question: Discuss about the Top Down Analysis And Bottom Up Analysis. Answer: Introduction The top down analysis and bottom up analysis is carried out for two companies operating in mining industry of Australia namely Rio-Tinto and BHP Billiton. The top down analysis helps in understanding the impact of changes in the economic factors on the current economic growth of Australia that also affects the industry performance. Besides this, the bottom up analysis helps in understanding the financial situation of the companies selected for the analysis (Robinson, et al., 2015). Mining industry is considered as the primary industry which contributes significantly towards the economy of Australia. The mining industry deals in the exploration, processing and extraction of the resources such as gold, lead, iron ore, bauxite, copper and zinc. Rio Tinto is a company that deals in mining and metals and was established in the year 1962 (Rio Tinto, 2016). It mainly deals in mining, exploration and processing of mineral resources such as aluminum, iron ore, energy and minerals and copper and diamonds. The different segments of the company are located in 10 countries including Australia. The main aim of the business is to deliver superior value to its shareholders. The company emphasizes on integrity, excellence, safety, respect and teamwork (Rio Tinto, 2016). BHP Billiton was established in the year 1885 with its headquarters in Australia. The company deals in exploration and mining of different minerals and oil and gas products such as metallurgical coal, iron ore, uranium, and copper. The company has dual listed company structure with two parent companies namely BHP Billiton Plc and BHP Billiton Ltd and operates as a single economic entity. Besides this, the company has provided employment to approximately 65000 employees (BHP Billiton, 2016). Top-down Analysis: Fundamental Analysis Fundamental analysis is the most common method used by the experts to estimate the intrinsic value of the firm. it analyses the basic financial information of the company such as sales, profits, dividend payout, interest assets, dividend coverage, market share and evaluation of promoter record which in turn facilitates in valuing equity shares on value based methods in three phases namely company analysis, economic analysis and industry analysis (Bouchard and Chassagneux, 2016). Economic Analysis Economic analysis is an approach that results in the determination of the optimum use of limited resources by making comparisons of the available alternatives to achieve specific objective under given assumptions and constraints. It takes into consideration the opportunity cost of resources employed in order to measure the private and social costs in monetary terms related to a project or economy. The mining sector has contributed 8.5% to the total GDP of Australia by providing employment to approximately 2% of the workforce in the year 2013 (The Conversation, 2015). Downstream processing is considered as mining output instead it is considered as production or manufacturing. Besides this, the mining sector pays approximately $12.7 billion as taxes that include $170 million as carbon tax in the year 2013. The major source of income for mining industry in Australia composed of 50% of Australias total export earnings (The Conversation, 2015). Majority of the export earnings of the mining industry is dominated by iron ore and coal. In the year 2013-2014, the exports from iron ore is $74.67 billion. There are approximately 1300 mining firms in Australia out of which, the production is dominated by large firms such as Rio Tinto and BHP Billiton. Besides this, the mining industry has contributed approximately 10% to the total output. Besides this, the GDP per capita income of Australia is $51320 billion in the year 2015. The current exchange rate of Aus$ is 0.73 in the year 2015 which affects the buying behavior of other countries customers to buy Australian products at low exchange rate. This helps in creating competitiveness of the Australian businesses beneficial for economy of Australia (Stanley, 2017). Industry Analysis In the year 2016, there is a decline in the enthusiasm of investors for Australian mining with the growing sector for China. The companies in the mining industry is investing in the innovation and research and development activities in the year 2017 for the purpose of pursuing development in the sector. There are different companies such as BHP Billiton and Rio Tinto to implement autonomous hauling systems for the purpose of increasing the efficiency by making optimum utilization of the available resources with minimum wastage and minimizing the occurrence of errors. There is an occurrence of the decline in the prices of iron ore since 2011 which results in a decline in the prices of the commodities which has a negative effect on the profits of miners and prices of the shares (Latimer, 2016). In the year 2015-16, the mining industry has provided employment to almost 163000 employees. There is a decline in the employment rate by 8.4%. Besides this, the sales from mining industry are $188943 million in 2015-2016. There is a decline in the growth rate in sales income by 11.4%. There is also a decline in the gross income to $60760 million with a decline of 17.5%. There is a decline in the prices of the commodity despite of which there is an occurrence of tremendous transitions in the production phase. Despite of the slow demand of mining, there is a growth in the construction sector. Besides this, there is an occurrence of rapid changes taking place in the technologies used by the mining industry such as autonomous hauling system which results in improving the overall performance and efficiency of the whole industry (Office of the Chief Economist, 2016). Company Analysis It is required to analyze the financial performance and productivity of the companies as it help investors to take decisions regarding the investments to be made in the companies which results in accelerating the growth of the companies. This also helps in gaining competitive advantage over other players in the market. The company is analyzed from the perspective of management or operations carried out by the companies along with its financial performance. It is essential for the companies to disclose the information related to different procedures and processes adopted to carry out its different business operations (Weigand, 2014). Management of Companies The management of both the companies have adopted new technologies and improved processes and procedures for the purpose of increasing their production capacity for the purpose of meeting the needs of its customers. Besides this, the companies have also adopted effective and efficient strategies for the purpose of achieving the goal of the business. There is a requirement to bring transparency in the operations of the business in order to increase the competitiveness of the company (Doss, et al., 2013). Financial Analysis This is the second step of the company analysis in which the financial statements are analyzed by the stakeholders of the company in order to make effective decisions. The financial performance and position of Rio Tinto is better than BHP Billiton as the company has earned profit. The liquidity position of the company is also better of Rio Tinto as compared to BHP Billiton. From the investment point, Rio Tinto is preferred over BHP Billiton as it is more profitable company. In addition to this, shareholders are attracted towards the company as it helps in paying more dividend in comparison to BHP Billiton. This is because BHP Billiton has made loss in the year 2016. In addition to this, market value of BHP Billiton is better than the Rio Tinto which indicates that investors are attracted towards BHP Billiton to make investment in the company (Bell, Brooks and Prokopczuk, 2013). Bottom-up Analysis The bottom up approach does not focuses on the movements occurred in the security market but emphasizes on the individual securities. It makes an assumption that the companies are performing well in the industry. There is a need to review the performance and position of the company as it helps the stakeholders to make effective decisions. In this approach, emphasis is given on a single company rather than on industry and gain knowledge regarding its products and services, research reports and financial stability. The bottom up approach facilitates in providing accurate forecasts of the financial data as it emphasizes on the in depth analysis of the company in terms of products and services, financial performance and position and availability of different business opportunities (Vernimmen, et al., 2014). Rio Tinto Particulars 2015 2016 Current Assets 15261 15055 Current Liabilities 10046 9362 Inventory 3168 2937 Net Profit -1719 4776 Sales 34829 33781 Total Assets 91564 89263 Dividend 2.2 1.51 Earnings per share -0.47 2.55 Market Price per share 23.58 20.73 Shareholders Equity 37349 39290 Current Ratio= current assets/ current liabilities 1.519112 1.608097 For the purpose of carrying out bottom up analysis of the companies, there is a requirement to conduct ratio analysis which helps in providing information related to different aspects of financial performance and position so that different stakeholders can make effective decisions related to having interest in the company in terms of getting return. In order to assess the liquidity position of the company, two ratios such as current and quick ratio is evaluated. These ratios provide information related to the ability of the company to meet its current liabilities by the use of current assets. The above table indicates that there is an increase in the current ratio of the company from 1.5 in 2015 to 1.6 in 2016. This indicates that the company has sufficient current assets to meet its current liabilities (Wahlen, et al., 2014). Besides this, the quick ratio provides the true measure of the liquidity position of the company as it does not consider inventories and prepaid expenses in the current assets as it is slightly takes time to convert them into cash and cash equivalents to meet the current liabilities. There is also an increase in the quick ratio from 1.20 in 2015 to 1.29 in 2016. Besides this, majority of the funds are blocked in the inventories due to which, there is a need to adopt strategies that helps in converting the inventories into cash and cash equivalents (Brigham, 2014). In addition to this, the company has also made loss in the year 2015 and has able to recover the loss and attain a tremendous increase in the net profit margin of 14.13% in the year 2016 from a loss of 4.93%. The main reason behind it is that there is a decline in the revenues generated from the sale of different products offered by the company. Besides this, it also takes into consideration all the expenses incurred in carrying out different business operations of the company. The company has made loss in the year 2015 due to which, it is unable to convert its assets effectively to generate profits for the company. It has made tremendous profit in the year 2016 and converts its assets effectively to generate profit for the company. The return on assets for the company has increased from -1.8% in the year 2015 to 5.35% in 2016. This indicates that the company has improved to make efficient use of its assets to make profit for the company (Wahlen, et al., 2015). Besides this, the company is paying increased dividend to its shareholders every year which results in attracting more investors to make investment in the company as the company is able to pay high return on their investment by exploiting different business opportunities which helps in increasing their profits. In addition to this, there is also an increase in the earnings per share of the company to 2.55 in 2016 from -0.47 in 2015. This shows that the shareholders of the company would earn 2.55 on each share in which they invested if whole of the profit earned by the company is distributed among them. Along with this, there is also an increase in the price earnings ratio from -50.17 in 2015 to 8.12 in 2016. This indicates that the investors such as shareholders and other investors are expected to make increased investment in the company in order to earn high returns on their investments. The company has strong financial performance and position in the market relative to industry ave rage (Brief, 2013). BHP Billiton Particulars 2015 2016 Current Assets 16369 17714 Current Liabilities 12853 12340 Inventory 4292 3411 Net Profit 2878 -6207 Sales 44636 30912 Total Assets 124580 118953 Dividend 2.48 1.56 Earnings per share 0.71 -2.4 Market Price per share 29.75 20.96 Shareholders Equity 64768 54290 Current Ratio= current assets/ current liabilities 1.273554812 1.435494327 Quick Ratio = (Current Assets- Inventory)/ current liabilities 0.93962499 1.159076175 Net Profit Margin = (Net Profit/ Sales)*100 6.447710368 -20.07958075 Return on assets = Net Profit/ Total Assets 0.023101621 -0.052180273 Dividend Yield = Total Dividend Payments/ Market value per share 0.083361345 0.074427481 Price Earnings Ratio = Market Price per share/ Earning per share 41.90140845 -8.733333333 The current ratio and quick ratio provides the information related to the liquidity position of the company. It indicates that the company has sufficient current assets which can be used to pay off its current liabilities. There is an increase in the current ratio of the company from 1.27 in 2015 to 1.43 in 2016. In addition to this, the true measure of the liquidity position of the company is quick ratio as it does not consider inventory while calculation of the ratio i.e. it only considers those current assets that can be quickly converted into cash and cash equivalents to meet its current liabilities in an effective manner (Samonas, 2015). There is also a tremendous increase in the quick ratio of the company to 1.15 in 2016 from 0.93 in 2015. This indicates that the company has good liquidity position. The company has made loss in the year 2016 as compared to the year 2015 as it fails to earn increased revenue from the sales and there is an increase in the expenses incurred by the company due to which the net profit margin of the company in the year 2016 is -20.07% as compared to 6.44% in the year 2015. The net profit margin ratio shows that the profit generated from the sales of the company after meeting out all the expenses incurred in different business operations of the company. In addition to this, due to the company has made loss in the year 2016, the return on assets is also negative in the year 2016 to -0.05 from 0.023 in the year 2015 which indicates that the company is unable to make efficient use of the its assets to generate sales of the company (Wahlen, et al., 2015). The company is able to pay dividends to its shareholders as a return on their investment in the company which attracts more number of investors towards the company. There is also a slightly decline in the dividend yield of the company from 0.083 in 2015 to 0.074 in the year 2016. The company has negative earnings per share in the year 2016 to -2.4 from 0.71 in the year 2015. This indicates that the shareholders of the company are not able to earn an income on the shares held by them. The price earnings ratio is negative as -8.73 in the year 2016 from 41.90 in the year 2015. This shows that investors are reluctant in making investment in the business. Thus, it can be said that the profitability position of the company is not strong in the year 2016 as compared to the year 2015 (Fleisher and Bensoussan, 2015). Summary and Recommendations It can be summarized that the financial performance and position of Rio Tinto is better than BHP Billiton. Besides this, these are close competitors of each other. In addition to this, it can also be summarized that the mining industry deals in the exploration, processing and extraction of the mineral resources such as iron ore, bauxite and so on. In addition to this, it can be recommended that the companies should exploit different business opportunities for the purpose of expansion of the business and increase their profits and liquidity position of the company. References Bell, A.R., Brooks, C. and Prokopczuk, M. (2013) Handbook of Research Methods and Applications in Empirical Finance. USA: Edward Elgar Publishing. BHP Billiton. (2016) Annual Report. [Online]. Available at: https://www.bhp.com/-/media/bhp/documents/investors/annual-reports/2016/bhpbillitonannualreport2016.pdf?la=en [Accessed on: 1 September 2017]. Bouchard, B., Chassagneux, J.F. (2016) Fundamentals and Advanced Techniques in Derivatives Hedging. USA: Springer. Brief, R.P. (2013) Corporate Financial Reporting and Analysis in the Early 1900s (RLE Accounting). UK: Routledge. 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