The Beatles :: Essay on The Beatles

The Beatles The Beatles were a British music group whose songs are among the most universally accepted music recordings of the 20th century. The Beatles, who revolutionized popular music around the world, were at the forefront of a movement in rock music known as the British Invasion. The British Invasion was a name referring to the tremendous effect that British rock-and-roll bands had in the United States during the 1960's. From 1960 to 1970, the Beatles achieved unique popularity with 30 songs reaching the Billboard magazine top-ten popular music charts. The Beatles were adored by the world in the 60's and 70's, and even today their music is loved by millions. The group was formed in the 1960, and broke up in 1970. It consisted of four Liverpool-born musicians. They were John Winston Lennon, James Paul McCartney, George Harrison, and Ringo Starr (real name Richard Starkey). Ringo Starr replaced Pete Best as drummer. Pete Best was an original member of the group. The Beatles created a unique and varied sound that fans continue to enjoy and bands continue to model, even today. One of their greatest albums was the creative Sgt. Pepper's Lonely Hearts Club Band. This particular album was admired for it's harmony and lyrics, the added use of electronic music techniques, and the addition of the Indian sitar sound. Though the songs were inspired by simple, everyday things, the album was acclaimed as the pinnacle of rock-and-roll's new elegance. The album's finale, John Lennon's, "A Day in the Life", is the album's most disputed track and its most musically ambitious. The British Broadcasting Corporation actually banned this song, because it supposedly had references to drugs. The Beatles were unafraid to challenge the world with their new music, and changed rock-and-roll from what is was, into what it is today. After 10 years of being together, in 1970, the Beatles broke up. Personally, I believe it is because Paul McCartney was pushing each member of the group too far. He, being a perfectionist, kept trying to be the leader, and telling them how to play. McCartney realized that each member was getting tired of the band, and becoming preoccupied with their own lives. He tried to bring the magic back, and the other members thought he was being too bossy. John Lennon, who was involved with a Japanese artist at the time, walked into the studio one day and told everyone he wanted a "divorce", meaning he wanted out of the band.

Competition Bikes Inc. Storyline Essay

To: Vice President The following is a summary report to recommend whether Competition Bikes should change its traditional costing method to activity based costing, and an analysis of the breakeven point with regards to sales units and dollars for both CarbonLite and Titanium bikes. It also discusses the impacts to the breakeven point. The cost-volume-profit evaluation and the traditional vs activity based costing method overhead analysis were used for the review and analysis. Traditional Based Costing vs Activity Based Costing Traditional Based Costing Method (TBC). TBC uses one rate, the overall cost of production, to estimate costs based on the revenue production created. Unlike ABC, manufacturing costs in TBC are only assigned to sold merchandises and do not account for nonmanufacturing costs such as administrative costs. This method is general not as accurate as ABC as it does not account for costs specifics to the level of products. For Competition Bikes, the company can see its manufacturing overhead is $239,020 for the Titanium bikes, and $232,380 for the CarbonLite bikes for a total of $471,400 in overhead costs. This means the unit cost for each is $713 for Titanium bikes, and $1359 for the CarbonLite bikes. Activity Based Costing Method (ABC). ABC determines and allocates cost by activities a company executes. This generally happens in four steps: identify each activity and its associated costs, both total and indirect; estimated cost driver and quantity; allocation computation; and cost allocation to the respective activity. ABC refines the way indirect costs are allocated to production and focuses on the costs of each individual activity. Costs are also further assigned to each product within the activities and each activity has its own cost driver. Because of the  specificity, active based costing provides a more accurate picture of the true costs. Direct material (DM), and direct labor (DL) are the same for each bike in using TBC or ABC. However, in using ABC, the company can break out the manufacturing overhead into factory setups, quality control, engineering services, product movements, utilities and services, and depreciation. The total for each bike using the ABC method is $590,715 for Titanium bikes, and $729,985 for CarbonLite bikes. Although the total is still the same $471,400 in overhead costs, the ABC method allows Competition Bikes to see that the Titanium bikes depreciate much faster than the CarbonLite and that it takes more utilities and services to make those bikes. Factory setups and quality control are much higher for CarbonLite bikes than those for Titanium ones. Per unit, the Titanium Bikes cost $656 each and the CarbonLite bikes cost $1460. Recommendation. It is recommended to use ABC to determine true costs associated with activities and products. This will give the company more knowledge of its finances and spending and in return by seeing a clearer picture of costs, make better decisions on funding and budget, and gain cost savings. Activity based management in Competition Bikes can use ABC to make decisions that increase profits while still meeting customer needs. Understanding where costs are going will help Competition Bikes to remove unnecessary costs and set fair price for the products. Overpricing products causes a lost in market sharing while underpricing products diminishes revenue. Better prices for consumers means more business for the company. With activity based costing, Competition Bikes will be able to determine the optimum sales units required with the sales mix of 9 Titanium bicycles produced for every 5 CarbonLite bicycles that will produce the bikes at San Diego at breakeven. The company will also be able to reevaluate activities on a regular basis to reduce future costs as well. Evaluating activities and setting sales prices are part of value engineering. Currently the company thinks it costs $1359 to make a CarbonLite bike and have set the selling price accordingly. In reality, the bikes cost $1460 to make. With a $101 difference, the company may want to adjust their selling price in future months. Using ABC also allows the company to use the Just in Time (JIT) system. This system allows ensures materials are purchased just in time to produce the products, and products are completed just in time for delivery. JIT uses the demand-pull system to receive the order, schedule production, delivered materials, and finished product delivered to the customer. This lessens the amount of excess parts and inventory saving the company money as well. Breakeven Point This analysis will evaluate the breakeven point for Competition Bikes Inc. Sales units and sales dollars will be identified for the breakeven point. These sales units and dollars will be broken down between CarbonLite and Titanium bikes. The breakeven point is used my companies to prevent loss. The Cost Volume Profit (CVP) is the tool in which to capture the breakeven point. Sometimes it is referred to as the breakeven analysis. The CVP assists the company in identifying future operation need, production costs, and expansion possibilities based on estimating costs, prices, and volumes. This profit response can help Competition Bikes determine the amount of needed sales, what products to manufacture, pricing policies, marketing strategies, and how much profit is actually needed. In this analysis we will assume that the fixed and variable costs remain constant, and that the number of units produced equals the number of units the company sells. CVP is defined by the equation Total Revenues – Total Costs = Profit. The breakeven point is the point in which the CVP equals zero or, Revenues – Expenses = 0. Meaning, the revenues cover all the costs, fixed and variable. Therefore, the CVP can be further broken down into Total Revenue – Total Fixed Costs – Total Variable Costs = Total Profit. The contribution margin is then identified by Total Revenue – Total Variable Costs (leaving out the fixed costs). Contribution Margin is important to identify the differences in each product’s profits. For Competition Bikes, the contribution margin for the Titanium bikes is $900-$679=$221. The  CarbonLite Bikes yield $1495-$1384=$111 each. Using the 450 Titanium bikes and 250 CarbonLite bikes sold, the total combined contribution margin for Competition Bikes is $127,000. That’s broken down like this: Titanium Bikes contribution margin of $221 per unit, 450 units equals $221*450, or $99,450. CarbonLite bikes contribution margin of $111 per unit, 250 units equals $27,750. Contribution margins $99,450 + $27,750 = $127,200 Total Contribution Margin. To determine the profits in more detail, we use the equation (Selling Price (per unit) * Quantity Sold) – (Variable Costs (per unit) * Quantity Sold) – Fixed Expenses = Breakeven Point (Zero). The fixed costs are the units sold * the weighted average contribution margin. The weighted average contribution margin is used to find the breakeven point and is essentially the average of contribution margin amounts per unit. The equation is Total Contribution Margin / Total Quantity Sold. For Competition Bikes, our combined weighted average contribution is $181.71. That’s $127,200/ 700 units sold (450 Titanium and 250 CarbonLite bikes) = $181.71. To establish the breakeven point, we also need to know the combined revenue and costs as well. So we calculate total revenue as the following. Titanium bikes are $900 each and 400 units sold, equals $405,000. The CarbonLite bikes are $1495 each and 250 sold which equals $373,750. Combine the $405,000 + $373,750 = $778,750 Total Combined Revenue. The variable costs for each are Titanium bikes: $679 in costs, 450 sold, which equals $305,550 or $679*450 = $305,550. CarbonLite bikes: $1384 in costs, 250 sold, which equals $346,000, or $1384*250= $346,000. The two together, $305,550 + $346,000 = $651,550 Total Combined Variable Costs. The total combined margin can also be calculated by taking $778,750 subtracting the $651,550 and it equals the same $127,200 Total Combined Margin we calculated earlier. We use this as a check and balance system here. To determine the breakeven units, we look at the fixed costs and weighted average contribution margin discussed earlier. The fixed cost for the company is $400,000. Divided by the weighted average contribution margin  181.71, we get the breakeven units for the product sales mix of 2201. The contribution margin ratio is the percentage of contribution margin to revenue. To find the contribution margin ratio, we divide the total combined margin by the total revenue. This tells us by how much the price per unit exceeds the variable cost per unit. In this scenario, Total Combined Margin $127,000 divided by Total Revenue $778,750 which is .163, or $127,000 / $778,750 = .163 Contribution Margin Ratio. Since the bikes are not equal, we must calculate a product mix in addition to the weighted average. Using the weighted average, we can calculate the breakeven point in a proportionate way using sales units and sales dollars. For sales units, we take the breakeven units for the product sales mix and multiply it by the ratio of units sold divided by the total number of unit sold. So for Titanium, the sales units at the breakeven point is [450 / 700] * 2201, or 1415 units. For CarbonLite, [250 / 700] * 2201 = 786 units. To calculate the sales dollars, we multiply the sales units by the sales price. In this instance, Titanium is 1415 units multiplied by $900 cost for each unit or, 1415 * $900 = $1,276,500. CarbonLite is 786 units multiplied by $1495 price for each unit, or 786 * $1495 = $1,175,070. The combined total sales dollars is $2,451,570 To break even, the profit must be zero. Gains and losses are equal. For Competition Bikes, the breakeven point is 1415, or $1,276,500 in Titanium bikes, and 786 CarbonLite bikes, or $1,175,070. Impacts of the Breakeven Point A2b. Based on an evaluation of cost-volume-profit, Prepare a summary report that describes the impacts to the breakeven point if company management needed to increase the cost of direct materials by 10% cost increase and needed to add $50,000 in fixed costs to the production facility. Company management has asked for a report on the impacts of increasing the  cost of direct materials by 10% and fixed costs by $50,000 in relation to the breakeven point. The contribution margin and weighted average are based in part on direct materials, or variable costs. Raising the costs by 10% is significant and will have a great impact on the company. Total Revenue is $778,750 and variable costs now $681,800. This increase is broken down by variable cost per unit to $709 for Titanium bikes, and $1551 for CarbonLite. The Contribution Margin per unit is now 191 and 44 respectively lowering the total combined contribution margin to $96,950. CarbonLite bikes contribution margin decreased from $111 to $44 per unit, over a 60% decrease. Calculated by dividing the Total Combined Contribution Margin $96,950 by the Total Units of 700, the 138.50 weighted average contribution margin per unit also dropped by 24% from 181.71. This shows how significant a 10% can be to the contribution margin. Ten percent in one area can mean much larger impact in other areas. With an increase in fixed costs to $450,000 that now brings the breakeven units for the product sales mix to 3249. We calculate this by $450,000 fixed costs divided by the lower weighed average contribution margin 138.50. This continues to affect numbers as we calculate sales units and sales dollars. Titanium bikes sales units are 450 units divided by 700 total units, multiplied by the weighted average 3249 for 2089 units. CarbonLite bike sales units are 250 units divided by the 700 total units, multiplied by the weighted average 3249, totaling 1160 sales. Sales dollars are calculated as Titanium bikes 2089 units * $900 = $1,880,100 and CarbonLite bikes as 1160 units * $1495 = $1,734,200 for a total $3,614,300. The breakeven point is now increased. Sales for Titanium bikes is now up to 2089 units, or $1,880,100 and CarbonLite bikes up to 1160 units, or $1,734,200. By raising direct costs 10% and fixed costs 13%, Competition Bikes now has to sell 674 more Titanium bikes, and 374 CarbonLite bikes to break even. That’s a 48% increase. Based on this analysis, it would be in Competition Bikes best interest to try to keep costs low. Variable and fixed costs show that a small increase can significantly impact the company’s breakeven point. Variable costs have a higher impact than fixed costs. Direct costs per unit should be specifically addressed in reducing costs as well as increasing sales.

Imperial tobacco group plc - Free Essay Example

Sample details Pages: 9 Words: 2659 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? 1.0 Introduction Imperial Tobacco Group Plc is a leading international tobacco company. Since the time when Imperial Tobacco Group Plc produced the first cigarette in 1901 there has been dramatic changes to the technology, commerce and society. Over the last 100 years Imperial Tobacco has developed itself as one of the leaders in high quality tobacco products. Don’t waste time! Our writers will create an original "Imperial tobacco group plc" essay for you Create order Imperial Tobacco is operating in more than 160 countries around the world. Imperial Tobacco is the worlds fourth largest international tobacco company, which manufactures markets and sells a comprehensive range of cigarettes, tobaccos, rolling paper, filters tubes and cigars. The company geographic diversity and versatile multi-product portfolio provides business resilience and a strong platform for future growth. The key international brands of the company are Davidoff, Gauloises Blondes, JPs, Fortuna, Gitanes, West, Drum, Golden Virginia and Rizla. The company operates with 58 factories and which are further divided as 33 factories of cigarettes, 22 for other tobacco products and processing factories and 3 factories for paper and tube. 2.0 Imperial Tobacco Cigarette Volume Tonnes The cigarette volume of the company for the year 2009 was 322.2 bn. As it is a 10% increase from the last year (2008) during which the total cigarette volume of the company was 294.1bn. The fine cut tobacco volume of the company for the year 2009 was 25,950 tonnes which was 850 tonnes more than last year 2008 production of 25,150 tonnes. Imperial tobacco is a diversified tobacco company with a strong presence in both mature and emerging markets. The company is growing their volumes in emerging markets including in Eastern Europe, Africa, the Middle East and Asia which court for 51% for the company overall cigarette volume. 3.0 Imperial Tobacco markets The company divides the globe in six major markets. United Kingdom The first and most profitable market for imperial tobacco during the year 2008 was United Kingdom. The company reported a net revenue of 893m (2008:869m) and company adjusted profit from operations was 601m (2008: 584) which compared to the last few years increased pretty sensibly. The company overall cigarette market share was 45.3% and the company continued to increase their share of the economy segment up to 31%. As the company launched JPS silver in November 2008, JPS sliver has delivered the excellent results with the market share price. The UKs two best selling brands, Lambert and Butler and Richmond continue to hold their 30% of the overall cigarette market. As the UK is profitable market, the company remain focused on balancing their market shares with sustainable profit growth. Germany The second useful market for the Imperial Tobacco during the year 2009 was Germany. The net revenue for the company 2009 was 826m (2008:664m) and the adjusted profit from the operations was 403m (2008:309). As compared to the last year the company increased quite reasonably. The company share price was 27.3% and the JPS delivered a strong performance up to 8.5% (2008: 7.8%). As in the UK, our plan in Germany is to continue to balance market share and profit growth. Spain Spain is another effective market for the Imperial Tobacco during the last year 2009. The net revenue of the company came out as 610m (2008:411m) and the adjusted profit from operations was 275m (2008:150m). Imperial Tobacco got the most important position across all tobacco categories in Spain. The total market share price was 30.6%. In fine cut tobacco, the company consolidated their market leading position growing their volumes by 52%. The company overall market share was 42.6%. Rest of the Europe Imperial Tobacco remained quite effective in rest of Europe as well. In 2009, the net revenue of the rest of EU was 1,490m (2008:1,250m) and adjusted profit from operation was 566m (2008:494m). In France, the company domestic blonde cigarette market share was up to 23.9% as a good result of good performances from Gauloises, Blondes, Fortuna, JPS and News. Imperial Tobacco is the market leader in Netherlands, and the largest fine cut tobacco in the region. The company grew their share in a number of markets including Austria, Czech Republic, Greece and Portugal. JPS performed well in Ireland, Portugal and Austria. Additional Cigarette brand highlights include Davidoff in Greece and the Czech Republic. USA Another useful market for Imperial tobacco is US market. The company Americans net revenue was 861m (2008:542m) with adjusted profit from operations of 288m (2008:166m). The overall cigarette market share price stable at 4.2%, a pleasing performance given current market challenges. The key brands of Imperial Tobacco in USA are Gold and Sonoma continued to be well positioned in the discount sector with their market shares. Rest of the World The last market of the Imperial Tobacco is underlined as the Rest of the World. The net revenue of the company was reported as 2,138m (2008:1,502m) and adjusted profit from operation of 617m (2008:404m). The cigarette volume for Imperial Tobacco increased in many markets in this region. The company believes this region offers them substantial growth opportunities. During another successful year for Imperial Tobacco the company have grown profits in their mature markets and made great advances in emerging markets with volume, profit and market share gains. The company increased overall cigarette volumes by 10% to 322bn, including a full year contribution from Altadis and many other brands. The past year 2009 became the year of results and demonstrated the achievement of companys strategy with constructive progressed across the enlarged group. The company has delivered another strong operational and financial performance, further building on over excellent track record of creating sustainable shareholders value. Imperial Tobacco is sales led business and grows their tobacco net revenues by leveraging their total tobacco portfolio and their balanced geographic footprint. The total sales of imperial tobacco group in the year 2009 was 6.8bn which is 30% increase compared to 5.2bn in the year 2008. There is an excellent performance from the Imperial Tobacco group. 4.0 Imperial Tobacco Plc Profit and Finance Cost The company increased the gross profit in the year 2009 which was 3,863m as compared to 5,316m in the year of 2008. Similarly the profit from operations increased 59% from 1,471m in 2008 to 2,337m in 2009. The adjusted profit also increased 32% from 2,230m in 2008 to 2,933m in 2009. One of the important improvements in 2009 is the increase in investment income from 543m (2008) to 1,180m. The finance cost of the company in the year 2008 was 2,572m (2008:1,393m) and the net finance cost in 2009 was 1,392m (2008:850m). The profit for Imperial Tobacco plc before taxation was 945m in the year 2009 which was 52% an actual increase from the year 2008 when it was 621m. 5.0 Imperial Tobacco Plc Current non-Current Assets Imperial Tobacco contains a total of 24,662m (2008:24,660m) of non-current assets. The additional calculations of intangible assets came out to be 22,357 (2008:19,817m), property, plant and equipment as 2,010m (2008:1,820m) and the rest of the non-current assets added up to 295m. There is a huge increase in the non-current assets of the company as compared to the previous years. Property, plant and equipment are shown in the balance sheet at their sequential costs less accumulated reduction and mutilation. The current assets of the Imperial Tobacco came out to be 7,263m (2008:6,579m) and the total current assets was 31,925m in the year 2009 which is a massive increase from 29,239m in the year 2008. 6.0 Property, plant Equipment Property, Plant and Equipment are initially recognised at fair value. Land is not depreciated. Depreciation is provided on other property, plant and equipment so as to write off the initial cost of each asset to its residual value over its estimated useful life as follows: * Building up to 50 years * Plant and equipment 2 to 20 years * Fixtures and motor vehicles 2 to 14 years In 2009, the total cost of property, plant and equipment was 2,901m (2008:2,545m) and the depreciation and impairment cost of 2009 was 891m (2008:725m). 7.0 Imperial Tobacco Plc Current Non-Current Liabilities The current liabilities in 2009 of Imperial Tobacco Plc added up to a total of 11,420m (2008:9,658m) in which borrowings and trade and other payables played a major role with consuming 2,560m (2008:2,678m) and 7,451m (2008:6,183m) correspondingly. The other current liabilities obeyed of the imitative financial instruments, current tax liabilities and provisions spending 564m (2008:238m), 551m (2008:370m) and 292m (2008: 187m) respectively. The non-current liabilities of Imperial Tobacco Plc in the year 2009 were 13,910m (2008:13,225m). The big role in this category was played by the borrowings as they consumed a total of 25,330m (2008:22,883m). As it is a substantial increase from the last few years. 8.0 Imperial Tobacco Plc Current Borrowing and Non- Current Borrowing Current borrowing and non-current borrowing of the company in the year 2009 include interest payable of 3m (2008:27m) and 299m (2008:131m) respectively. In 2009, the total current borrowing of the company was 2,560m (2008:2,678) and the total non-current borrowing of the company was 12,067m (2008:12,236m). 9.0 Imperial Tobacco Plc Net Assets Current Strategy The net assets of the company were reported 6,595m in year 2009 which was a reasonable increase of 6,356m from the year 2008. This included share capital, share premium account, retained earnings, exchange translation reserve and finally minority interests. The current strategy of the company for the next five years is to create sustainable shareholder value by growing their operations both organically and through acquisitions. Imperial tobacco plc approaches their successful completion of their strategy by three core objectives which are: ÂÂ · Sales development ÂÂ · Cost optimization and efficiency improvements ÂÂ · Effective cash management These are the building blocks of the company business and they are committed to delivering a strong performance each of these areas. As a global tobacco company, the company recognise the importance of manufacturing, marketing and selling their products responsibility. Imperial Tobacco Group Plc has sales in over 160 countries in the globe. Company is growing the business globally through organic growth and acquisition. The company have strong positions in excellent markets like United Kingdom and Germany. The company have now also got a growing presence in the USA. Imperial Tobacco Group Plc is taking positive and prospective steps towards the other potential markets like USA and the rest of the World. The company have a versatile brand that has been improved significantly by the acquisition of Altadis. The companys strategy is to increase sales growth through investment and innovation, supported by the outstanding trade marketing skills. Cost optimisation is a hallmark of company business. The company look for maximum returns from their investments and seek efficiency improvements without compromising their focus on quality and innovation. This year the company have delivered integration synergy targets whilst driving business initiatives and improvements across the group. Imperial Tobacco Plc focuses on reducing cost and improves efficiency to support the sales development as it is a highly cash generated business. The company focus is on managing capital expenditure and working capital, tax and interest costs. Their strategy is to ensure that the cash generated to be used efficiently through acquisitions, organic investment and returning funds benefiting shareholders. 10.0 Imperial Tobaccos Shareholders Value Imperial Tobacco values the shareholders first among our stakeholders. The company business model provides a worthy circle of investment and sustainable growth and has consistently delivered strong returns to their shareholders. The company guarantees a substantial, profitable escalation takes priority over market share and volume growth. The company focus in sales and effective use of high levels of cash generation will ensure that, the company remain on track to create further sustainable shareholders value. After looking at the improvement made by the company we can easily conclude that the management is working really hard. The company operates a number of share-based employee benefit plans. The company is committed to ensuring their employees continue to accomplish their potential and share in the success of the group. The company also gives dividend to their share holders. The total dividend amount recognised as distribution to shareholders in the year 2009 was 640m (2008:487m) . 11.0 Risk and Risk Management There is also different kind of risks in every business. Imperial tobacco is also facing big challenges in their business. The Group faces a number of risks, similar to those faced by many multinational companies, which may impact on our financial position or prevent us from achieving our corporate strategy. A detailed assessment of risks within the company operating atmosphere is undertaken by management and is embedded across the group. Each area of the business is required to properly review its major areas of risk and uncertainty so that main risks reviewed at all levels across the group. The company ensures that there are obvious and reliable procedures for monitoring, updating and implementing suitable controls to handle the identified risks. This process is supplemented by the Risk Co-ordination Committee which assists the Chief Executives Committee and the Audit Committee in overseeing the management of material risks. The Board has responsibility for the Groups systems of in ternal control. The company identify that they operates in the controversial industry because of the health concerns related with the tobacco and smoking. There is strictly banned on smoking in public areas in most of the countries. As the tobacco industry would be facing new challenges in the future. Successful management of these risks is fundamental to their sustainable profitability and future growth. 12.0 Imperial Tobacco Share Prices The most recent share price of Imperial Tobacco Group plc on 20th February 2010 was 2,080.00p. In the previous year the highest share price of the Imperial Tobacco was 1,988.00p and the lowest share price for the company was 1,946.00p. The company is showing a continuous behaviours as you can observe from the values of last year share prices. The company prices stay stable during the worst financial crises. This market keeps the relative behaviour greater 9.1362 than FTSE 100 Index. Volatility has been increasing during last month. As a further step in ensuring that the company board structure is aligned with the ongoing international development of their enlarged business. The company made considerable progress with the integration of Altadis, including rolling out their international control and group policies and procedure. The company have successfully raised 3.9bn through the capital markets and have no refinancing requirements until July 2012. Imperial Tobacco ongoing management succession planning, their priorities for 2010 include further consolidation of the Altadis business and the continued embedding and improvement of the company processes and interior control in the wider group, including in relation to Occupational Health, Safety and Environmental Process. The company will also focus on further improvement of their risk management and anti-illicit trade processes. The company will also continue drive sales growth, cost optimisation and cash utilisation during the year of 2010. Imperial Tobacco wil l also support reasonable regulation of tobacco products but will challenge regulation that undermines the principles of adult choice and the freedom of competition. 13.0 Conclusion The company is working on a long term strategy which is very good for business. At this stage after looking at the historical data and upcoming strategy of the company of next terms I decided to hold my shares in the company and desire to buy some more shares as well. I came to the conclusion by taking into account all the analysis that has been done in the report. Considering the next five year strategy of the company shows the constructive approach to and an excellent speed of expanding as well which will benefit the organisation in the long term. As from investor point of view Imperial Tobacco is a very good company to invest in and the mainly benefit of the share holders with a sensible returns. 14.0 References www.bloomberg.com. https://www.bloomberg.com/apps/quote?ticker=IMT:LN www.ft.com. https://markets.ft.com/tearsheets/performance.asp?s=IMT%3ALSE www.yahoofinance.com https://uk.finance.yahoo.com/q?s=IMT.L www.imperial-tobacco.com. Imperial Tobacco Group Plc Annual Report and Accounts 2008. Lecture Notes. 15.0 Appendix p=pence m=millions