Soft Drinks in India Essay Example for Free

Soft Drinks in India Essay Soft drinks off-trade value sales continued to record further growth in 2013 in India mainly due to growth in juices, and bottled water. Categories such as carbonates, and sports and energy drinks faced significant pressure due to growing health concerns but the strong grip of brands especially for carbonated drinks helped soft drinks to continue growth momentum during the review period. Soft Drinks in India report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2009-2013), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market – be they legislative, distribution, packaging or pricing issues. Forecasts to 2018 illustrate how the market is set to change. Product coverage: Asian Speciality Drinks, Bottled Water, Carbonates, Concentrates, Juice, RTD Coffee, RTD Tea, Sports and Energy Drinks. Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data. Why buy this report? * Get a detailed picture of the Soft Drinks market; * Pinpoint growth sectors and identify factors driving change; * Understand the competitive environment, the market’s major players and leading brands; * Use five-year forecasts to assess how the MARKET is predicted to develop. Table of Content Executive Summary Soft Drinks Records Further Growth in Value Sales Launch of New Flavours Maintain Consumers Interest Amidst Slowdown Competition Between Coca-Cola and PepsiCo Becomes More Aggressive Modern Retailers Gain Further Popularity Sustained Sales Likely To Record Steady Growth in Sales Key Trends and Developments Manufacturers Focus on Introducing New Flavours Celebrity Endorsements Remain As Popular Promotional Tool Modern Retail Gains Further Popularity East and Northeast India North India South India West India Rural Vs Urban Key Trends and Developments Trends Competitive Landscape For more information kindly visit: http://www.marketreportsonindia.com/food-beverages-market-research-reports-541/soft-drinks-in-india.html About MarketReportsonIndia Market Report on India is a portal where you can access thousands of reports on India starting from Aeronautics to Zinc (A-Z). We provide you with reports which will help you gain a better understanding of the Sectors, Companies, New Products and Latest trends.

Another Kind of Prejudice :: Education Tracking Schooling Essays

Another Kind of Prejudice A high school education is not only the mastery of the three R's but also a foundation for life. High school is the finishing point of many individuals for the educational system, and for the rest, it should be a strong foundation for a higher education. High school curriculum should be broad in the sense that this will be the last formal education for some, and it should expose all students to various elements they may never encounter again. All students should leave high school with a base knowledge of what Mike rose in his book "Lives on the Boundary" calls the "cannonical orientation." Cannonical orientation is the belief that all children should have the foundation of reading the great classics. This foundation of the classics is what we will be judged by in the future. In reading the classics we become more knowledgeable about viewpoints on different situations, and these various views influence how we perceive obstacles in our life. Rose focuses on literature, however this exp ansion of different views transfers even further, not just for literature, but for mathematics, science and history. Mike Rose raised the issue of cannonical orientation and prejudice against those who cannot speak English well. I have come across another kind of prejudice in the educational system. It starts out early in our education process and may prevent your children from reaching their full potential. When children start junior high school they are entering a new world. Many schools have a system in their junior high school called "tracks." Tracking is a system where students are grouped together with other students throughout their academic courses. The foundation for this system is grouping the students together based on their academic performance. According to administrators and teachers who favor this method, tracking makes an easier environment for the teachers. The teachers will be able to stay focused on the entire group, instead of having some students bored with concepts they have already mastered. The reverse is also true, where students are being taught at a level above their capability. We see this philosophy of teaching in elementary school where the students are put into small reading groups based on their reading level. Tracking leads to the possibility that many students may be misjudged because the school administrators and teachers are basing the childrens' academic future solely on their academic achievement in grammar school.

Appendix A: Barclay’s employees Essay

Barclay’s Bank Organizational Strategy and Employee Morale September 15, 2007? Contents Barclays Bank 3 Roadmap-Thesis 5 Interview Results 5 Academic Research Recommendations for Improvement 7 Conclusion 10 References 12 Appendix A: Barclay’s Employees 14 Appendix B Employee Interviews 15 Appendix C: Framework For Improvement 19 ? Barclays Bank Barclays is the third largest bank in the United Kingdom. The bank can trace its roots back to 1690 in London. The name â€Å"Barclay† first arose in 1736. Today the bank is a global financial service provider operating in the UK, Europe, United States, and Africa. The bank’s headquarters are at One Churchill Place in Canary Wharf, in London’s Docklands, having moved there in May 2005 from Lombard Street in the City of London. Barclay’s US headquarters are in Wilmington, Delaware where it acquired the former Juniper Bank (Answers Barclays Bank 2006). Barclays is a UK-based financial services group, with a very large international presence in Europe, the USA, Africa and Asia. It is engaged primarily in banking, investment banking and investment management. In terms of market capitalisation, Barclays is one of the largest financial services companies in the world (Barclays Newsroom 2006). Barclays has been involved in banking for over 300 years and operates in over 60 countries with more than 113,000 permanent employees (including 33,500 at Absa). For the year ended 31st December 2005, the group achieved a pre-tax profit of ? 5,280 million, up fifteen per cent on 2004. In 2005 Barclays paid approximately ? 3 billion in taxes (Barclays Newsroom 2006). Customers are served through a variety of channels comprising: the branch network, cash machines, telephone banking, online banking and relationship managers. It is managed through two business areas, UK Retail Banking and UK Business Banking. In UK Retail Banking there are 14 million retail customers, including current accounts, savings, mortgages, and general insurance (Barclays Newsroom 2006). Local Business provides banking services to 592,000 customers; UK Premier provides banking, investment products and advice to 286,000 affluent customers (Barclays Newsroom 2006). UK Business Banking provides relationship banking to larger and medium-sized businesses. 183, 000 customers are served by a network of relationship and industry sector specialist managers (Barclays Newsroom 2006). Barclay’s strategic objective is to â€Å"To deliver top quartile total shareholder return relative to our peers, consistently over time† (Barclays p 2 2004). The company focuses directly on increasing shareholder value rather than employee retention and morale. Barclay’s does not have a directly available mission and values statement that is visible to the external environment. The internal environment at Barclay’s is one of traditional top-down management. The corporate culture at Barclay’s maintains a hierarchy of experience and education, where the management team places a large amount of focus on meeting the shareholder strategy. According to Barclay’s â€Å"In recent months, we have taken a number of steps to enhance further our corporate governance practices. We have expanded the remit of the Remuneration Committee to cover strategic human resource issues† (Barclay’s 2004 p 3). These strategic changes included: â€Å"continued and upgraded our investment in established; programs for the community, equality and diversity, and the environment; built on our reputation as a pioneer and leader in the field of financial inclusion; excellent terms and conditions for colleagues impacted by offshore outsourcing; developed a clear statement on human rights, and continued our participation in the Business Leaders Initiative on Human Rights; and made good progress in adapting our branches and offices to be fully accessible to customers with disabilities (Barclays p 12 2004). Barclay’s did not, however, remunerate a corporate strategy or mission to address its near 20% turnover rate which has been continuous and barely changing for the past three years, an indication that Barclay’s focus is on stakeholder value and not developing or addressing employee morale. However, Barclays does have a large focus on community service, receiving the â€Å"2004 National Business Award for Corporate Social Responsibility† (Barclays p 12 2004). (Barclays p 47 2005) ? Appendix B Employee Interviews Employee 1 What is your job and role at Barclay’s? I am a telephone operator and sales advisor, working both the phone lines and desk. Sales advisors are front-line employees performing work at the transaction level. We are dedicated to customer satisfaction and providing great service. We want to provide great service but recognize the challenges in improving the work processes. What are your beliefs about Barclay’s strategic objective? Our philosophy is client centred. I believe the clients have ultimate knowledge of themselves and that the banker’s job is to draw out this information and insight, help clients organize it, and stimulate clients to use their funds better. What are these challenges in improving the work process? Office politics at all levels, particularly where reports of motivation and such are concerned, there is sometimes when they call out the good, and embarrassingly the bad also. Sometimes leadership is motivational but not always. So, if you have a good idea and you don’t hobnob with the management, you are not going to be listened to. The same is true if you are having a problem, or a customer is being overly abrasive towards you. It can be a little insane. Can you explain the leadership strategy in motivation? They focus on certain people and not the whole department or team. Favoritism is the â€Å"coin of the realm† in my department. The â€Å"code of silence† dictates that discipline must be administered when broken and rewarded with favor when adhered to, in contrast to a system where one is encouraged to excel. My department operates more on the prison model of behavior control. What are your beliefs about Barclay’s strategic objective? Our philosophy is client centred. I believe the clients have ultimate knowledge of themselves and that the banker’s job is to draw out this information and insight, help clients organize it, and stimulate clients to use their funds better. What do Barclay’s mission and value statements mean to you? Value of an open, thoughtful and complementary approach to quality informed customers and developing customer loyalty. a planned and systematic approach to quality including ensuring that the results of monitoring and evaluation are fed back in order to effect improvement. How does Barclay’s leadership ensure proper monitoring and evaluation? Use of internal performance/service benchmarks is not enough although several recognized performance indicators are used by managers, but customer satisfaction information should be requested for each purchasing transaction. There is a lack of cooperative work processes and supporting information systems which negatively impact customer service. What kind of customer service do you try to perform? I believe in being responsive to what the customer wants as opposed to what she ought to have. With service, you also always tell the truth as you see it. I put a lot of emphasis on contracting-what can I do for her that will be of value to her in that time frame. Does leadership help you want to provide good customer service? Leadership has not helped me want to provide customer service. Not everyone is a decent human being. Not all are treated with respect. Someone seriously rude in the office and nothing is done as it is not viewed as wrong. Employee 2: What is your job and role at Barclay’s? I provide telephone customer service. What are your beliefs about Barclay’s strategic objective? There is an emphasis on customer service as a driver of business performance. What does customer service entail? I have to have an in-depth understanding of various components including stock option and restricted share award processes; eligibility requirements; and knowledge of plan design, alternative practices and business needs/issues and I use this to help the customer build their best banking services. I have to be able to track and monitor customer accounts and customer service. Does Barclays give you frequent training and all the materials you need to do your job? No. I wish I had access to more ongoing training program for customer service as what I do is quite complex and precision is very important so the customer’s bank accounts are all correct. Some managers are really willing to help you out. Others talk to you like you are an idiot for asking for help. It is a half and half shot at getting training or help with something, unless it comes from corporate management. How does corporate management get information or motivation to you? I don’t think corporate has motivated anyone. They send training videos or PowerPoint presentations explaining the importance of customer service, but what I really want is more technical training so I can give better customer service. I’m already polite and courteous. How do your direct leaders motivate you to give good customer service? Management appears to want to make this an issue and an expectation that everyone should jump on board. If someone becomes ostracized or somehow made less because they don’t buy into the hubbub, it seems we’ve just created a worse problem. It’s almost a Catch-22, I’m not engaged all the way because they don’t give me what I really need and I get treated like I’m a moron, but they expect me to always smile and be happy, even when the manager is quite literally rolling her eyes at me. It’s a terrible, rude atmosphere at least half of the time. What about the other half of the time? How do you feel about ‘engaging’ with your job? I am not sure how to respond. I talk to customers and do what they ask as quickly as possible and sometimes I make recommendations for better banking, but I don’t know how this engages the customer one way or the other. ? Appendix C: Framework For Improvement.

Rational choice theory Free Essay Example, 1250 words

Individual could also have limited information that could help make a better decision and thus optimize his/her objective. To take care of the limitations of perfect rationality, a more advanced theory of bounded rationality was developed. Bounded Rationality Simon (1979) argues that models of optimizing entrepreneurs who are completely certain of consequences or probability distributions for uncertain events are theories of how to decide and not what to decide (498). He further claims that no individual is in a position to make perfectly rational decisions due to limited information and new levels of uncertainty and inability to calculate consequences due to own perceptions hence make satisficing decisions rather than optimal ones. He referred this theory as ‘bounded rationality’ which involves the search for alternatives by individuals and choosing the alternative that lead to optimal or satisfying goal. The alternatives are evaluated using a certain criteria or techniques and habits. Implications on Managerial Decision Making Decision making in organizations is aimed at ensuring the organization functions effectively or to ensure high performance mainly in terms of profit maximization. According to miller et al (2001), decisions are concerned with allocation and exercise of power in organizations because power determines the decision maker. We will write a custom essay sample on Rational choice theory or any topic specifically for you Only $17.96 $11.86/pageorder now The decision making approach of a leader or leadership style thus determines the performance of an organization (Michel, 1997). In rational choice models the leader determines the course of action to be taken and how it will be implemented in order to achieve a business goal. The manager thus is assumed to know the relevant goals and how to assess them hence can rank them in order of preference. He/she is also assumed to have accurate knowledge of consequences arising out of each alternative hence can choose the most efficient alternative means for maximizing goals (March & Simon, 1993). The decision of the manager is thus applied regardless of the employees’ perceptions or without evaluating the effects on those concerned. For example, in the Pearl Harbour case, the Japanese attacked the US Navy expecting to neutralize American naval power in the pacific without evaluating the other party options and in return, the US used nuclear bomb as re venge. There is bound to be conflicting interests in the organization that may hinder realisation of the optimal goal. The manager thus guides the behaviour of employees to align with the goals set or established norms.

Teachers Importance - Free Essay Example

Sample details Pages: 4 Words: 1303 Downloads: 1 Date added: 2019/02/05 Category Education Essay Level High school Tags: Teacher Essay Did you like this example? Teachers have the capability to shape minds and futures of many. Teaching isnt a career meant for everyone. Teachers have a duty of shaping the lives of person, children and adults. Don’t waste time! Our writers will create an original "Teachers Importance" essay for you Create order With such great power comes great responsibility, Uncle Ben’s famous words to Spider-Man, teachers are the real superheroes. There is no doubt that teachers are an integral part of a persons life, whether a child or a person adult, teachers are always there. Has it ever been questioned how teachers deal with meeting the scholarly curriculum, having with deadlines for grades, or even dealing with some disconcerting students and parents? Teachers have a slight choice but to have an impact on a child becomes, and quite possibly, more importantly, the person a child strives to become. Teachers play important role in our life to become successful in career and business. It is highly important for teachers to inspire students to follow good habits and act as secondary parents to children. Not only are they teaching them academics, but also manners, sportsmanship, and self-confidence, these are important factors that children need in everyday life. Whether in the early years of elementary, high schools’ teenagers, or young adults in college, teachers provide the tools, and the environment for their students to develop into responsible adults, which is a why they an important factor in society. One of the reasons for becoming a teacher is to contribute to the community in a significant way. A vocal factor a teacher want is to see their students to flourish. Teachers are one of the main supports system of a progressive society. They bear the weight and responsibility of teaching, and, apart from parents, are the main source of knowledge and values for children. Education is a straightforward way to make an impact, and if person is driven by the desire to help those around person, being a teacher is an invaluable contribution. A teacher deserves an MVP award just like a professional athlete during the end of a regular season. Children are influenced by what they see and who they are around, therefore making teachers job is more important. Educating is one of the most absolute methods to make an impact, and if person is driven by a will to assistance others, being a teacher is an invaluable contribution. The value of a teacher in a students life can’t be overblown. Teachers are often the first to identify a students unique gifts and capacities in a specific subject. Becoming a teacher provides an opportunity to nurture and encourage their students to appreciate and develop their natural abilities and interests. Most adults can recall a favorite teacher who loved being in the classroom and who made learning fun. Education is a key element that directs ones life to success. By having the knowledge, one holds the power to make goals into existence. . In fact, teachers are more than people who just stand in front of a classroom and ramble. The person in front of the room is more than an educator; they can a mentor, an acquaintance, and a friend. A common reason why people decide to pursuit to become an educator is to make a difference in students lives, to help them build a better future. The important part of teaching is to help transition the next generation. A teacher’s greatest strength is to shape students reassurance and realize their hidden potential. A moral teacher tries to incorporate into their students is critical thinking. When students are doing homework, they will gather and assesses relevant information. Becoming a teacher lets person impart life lessons that children will never forget and influence their decisions, behaviors, strengths, weaknesses. Nevertheless, teachers are looked more down upon. Many people seem to look right at the paycheck teachers are making and not why they are in that field. Teachers deserve a higher pay increase for hours spent developing lesson plans and then revising them. Teachers must attend staff meetings for hours, sometimes; last late in the evening and may not have the reminding time to complete other work for their class. An educator spends a quarter of the day in the classroom, Author Taylor Mali comes to defend teachers in his poem turned book What Teachers Make to shed some light into the importance of the teaching degree. Teachers combine their own ideas with other peoples to be able to give a good education to their students. Consequently; the amount of money that teachers are getting paid is unreasonable. With the amount of time and work into educating children and adults through the day, teachers don’t make as much money as one may imagine. A neurosurgeon and psychologist can have the title as doctor, but a teacher who also have the 3rd degree won’t be taken seriously with the same title. According to the Bureau of Labor Statistics, the average teacher has a yearly income of $58,030, which is low for the years it takes to earn a teaching degree. North Carolina in ranked 48th of the lowest income for teachers in the United States. Teachers deserve a far greater pay increase for effort they must deal with. They are the people who are divulging to information they will need to make differences. In a country where getting education is a higher property, those who are educating the future workers would think that the educators would receive a much higher salary. A teacher jobs just doesn’t involve being in the classroom all day, but also; make lesson plans, create tests, and check papers. There are teachers who don’t care about the paycheck value but contributing to the successful for the next generation to become greater. Equally important, teachers in general focus on the course material; however, minority teachers take on a bigger obligation because of little representation in the classroom. African American teachers believe they impact the lives of African American students in many ways that differ from their Caucasian colleagues. When African American students have someone of the same ethnicity as them in the classroom, they have a greater standard to overcome. African American students with Black teachers are less likely to be expelled or suspended and have a more likely chance to graduate and are likely to be recommended for participation in gifted and talented programs. African American students with African Americans teachers are also less likely to be mistakenly referred to special education programs for those with behavioral disorders. As role models for minority children, African American teachers feel they are examples of how to overcome challenges to be successful in life. Many African American teachers shared the lived experiences of their Black students. Because of the share experiences both the teacher and student have in common, they feel confident teaching students about the challenges of discrimination and, at times, poverty, and were well-positioned to help students understand what it takes to be successful in this world. When Black students encounter challenges in the classroom, African American teachers sympathize as Caucasian teachers do. The difference is that they dont use these challenges to make excuses for students but to show students these are reasons to push on and succeed. Teachers of color are crucial to young African Americans children self-esteem and success, a popular line Papa Pope from the tv drama Scandal, â€Å"you have to be twice as good as them to get half of what they have†. African American teachers become an advocate to change the community, wanting the negative stereotype that about minorities attaining a higher learning. Specifically, teachers serve a secondary parent to their students. Students spend as much time with their school teachers on a weekly basis as much as their parents at home. While parents teach children the fundamentals of life, teachers show the hidden agenda of mannerisms.

Fast Tracking Design And Construction Phases Essay

Fast Tracking Design and Construction Phases. The implementation phase of the Chunnel Tunnel was rife with risks and issues as the project team opted to fast track the design and construction phases of the project (Anbari, et al.,2005, p. 12). Fast tracking is described by the Project Management Institute (2013, p. 540) as a schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. Typically, project teams use this technique in hopes of shortening the delivery timeframe with the knowledge that this approach makes the project susceptible to additional risks (Anbari, et al.,2005, p. 10). The Chunnel Tunnel project team chose to fast track overlap the execution of these two phases due to schedule delays and cost overruns in previous phases. For the project team, compressing the construction time was crucial to ensure that the project objectives would be completed. In time, banks and private investors recognized the incremental risks associated with continuous delays and began weighing in on project decisions to minimize risks (Anbari, et al.,2005, p. 9). Financial stakeholders expected a return on investment (ROI) and the project team allowed them to have too much control when recommending risk mitigation strategies (Anbari, et al.,2005, p. 9). Thus, subcontractor contracts were changes to fixed price contract and later resulted in a contractor claim (Anbari, et al.,2005, p. 9).Show MoreRelatedThe Importance Of Stakeholders Influence Level Interest Level1684 Words   |  7 PagesVA-Land Owner High High Key Player Weekly; Construction and Budget progress updates Email, Meetings, PM software like BIM. Facilitate Construction Activity with no delay Comstock Partners- Building Leasee High High Key Player Weekly; Construction and Budget progress updates Phone, Email, Meetings, PM software like BIM. 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Audit Planning is an Iterative and Continual Process

Question: Write an essay on Audit planning. Answer: Audit planning is an iterative and continual process that encompasses devising a comprehensive audit strategy for the engagement and analysing the various risks and planning the risk management procedures (Public Company Accounting Oversight Board, 2016). The nature and process of audit planning are closely related to the functionality and complexity of the organisation under consideration. In this report, an audit plan has been drafted for Woolworths Limited, an Oceania-based retail chain and Qantas Airways Limited, an Australian airline. Woolworths Limited manages some of the Australias most trusted retail brands. It offers a range of portfolio including apparel, food and drinks, petrol, home solutions, hotels and financial services (Woolworths Limited, 2016). The Australian retail industry is primarily affected by macroeconomic factors and consumers' willingness to pay. Low-interest rates along with modest GDP growth have positively affected the disposable income and expenditure of the consumers (Ferrier Hodgson and Azurium, 2015). On the other hand, the rise in unemployment and rapid decline of AUD is taking a toll on the retail sector margins. The coalition government has imposed a hefty tax burden to tackle the national deficits and it has also withdrawn government subsidies from various industries. The online retail space in Australia is booming at a faster pace compared to the overall retail industry. In spite of the geographic isolation of the Oceania region and the bullish view towards local brands, foreign r etailers have shown interest in the Australian retail space and this has increased competition. GAP, HM, Costco, Zara, Top shop and many others have stepped in and challenged the local retailers for market share. The technological advances in the consumer purchase cycle have the capability to reshape the industrial and competitive landscape further as omni-channel retailing is becoming more and more relevant in the retail industry. Inherent risk Justification Assertion and ledger account(s) impacted Audit procedure/task Operational risk The KPIs got affected due to the alliance between Woolworths and Caltex, the reducing average fuel sales price and not-so-promising trading figures in food and liquor and general merchandise in Australia. Sales revenue decreased by 0.2%. The cost of Doing Business (CODB) going up by 42 bps due to dip in sales growth resulted from the Woolworths-Caltex alliance (Woolworths Limited, 2015). Analytical procedures and inspection of records and assets(Association of Chartered Certified Accountants, 2016) Market risk The company is facing increasing competition from incumbent rivals and new entrants in the retail industry. Dilution or damage of Woolworth's brands, global economic disruption, and failure to effectively hedge against adverse fluctuations in the exchange rates or interest rates pose a significant risk. The Existence and Valuation assertions are impacted. Fluctuations in profitability indices can be a suitable KPI for this risk. Observation of market trends and competitive retail landscape, recalculation and re-performance of the brands Strategic risk Woolworths' retail chains may be negatively influenced if the customer demands are not properly met by customer value proposition. This could also impact results from future growth prospects and operations. Also, the profit margins may be compromised if Woolworths go for acquisition or divestment activities and face unforeseen liabilities from these activities The Existence and Valuation assertions are impacted. Fluctuations in profitability indices can be a suitable KPI for this risk. Observation of technological trends and competitive retail landscape, recalculation and re-performance of the brands An analytical review of the annual report of Woolworths suggests that the alliance with Caltex has negatively affected the company's profitability indices. Also, the company is planning to return 72% of its net profit to the company's shareholders in the form of $1.8 billion as dividends. This implies that the company is not having additional expansion or consolidation projects in mind and hence it does not require cash in hand. The company has been struggling in Australian supermarkets and this is due to the increased competition and price wars although the company stood firm in keeping its rates fixed when faced with the challenges.antas Airways Limited is the largest airline in Australia regarding fleet size, international flights as well as destinations (Qantas Airways Limited, 2016). The airline has performed strongly in 2014-15 since coming back from the global economic crisis in 2009. Qantas have consolidated their leverage ratio by reducing debts in 2014-15. It has also incre ased liquidity aspects and group-wide return on invested capital (ROIC) to 16% (Qantas Airways Limited, 2015). Inherent risk Justification Assertion and ledger account(s) impacted Audit procedure/task Liquidity risk Liquidity risk is the risk that Qantas may encounter in coping up with obligations related to financial liabilities. The Qantas Group proposes to manage this risk by fixing minimum liquidity level as objective. This ensures long-term obligations achieved in relation to forecasting present cash inflows, maintaining access to multiple additional sources of funding that include standby facilities and commercial paper, and managing maturity profiles. Cash flow statements will undergo fluctuations due to debt retirements or acquiring new shares through stock purchases in open market transactions. Analytical procedures and inspection of records and assets Market risk The company faces risk from the areas of market fuel price, foreign exchange and interest rate. Interest rate risk refers to the risk pertaining to the future cash flows of a financial instrument due to fluctuations in interest rate in the market. This will also fluctuate due to change in foreign currency exchange rates which are quite relevant to Qantas' international operations. Change in Aviation Turbine Fuel (ATF) costs will also affect the profitability of the company. The Existence and Valuation assertions are impacted. Qantas group has assets and liabilities in various currencies and exchange rate fluctuations will hamper the balance sheet. Observation of market trends and competitive retail landscape, recalculation and re- performance of the brands Credit risk Credit risk is the projected loss from an account transaction when the counterparty defaults during the period of the transaction or on settlement of the account. In this context, the cost to replace existing operations, when counterparty defaults, is known as credit exposure. Transactions through trade-debtor counterparties and other financial asset counterparties Analytical procedures and inspection of records and assets As per the systematic review, the Qantas group follows a financial framework with particular objectives. It aims to maintain an optimal capital structure by minimising the weighted average cost of capital. The company has achieved this by reducing $1 million debt in 2014-15 but keeping the same capital structure with increasing cost of operations and international expansion can pose a significant challenge. 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