목차
<Contents>
Ⅰ.Introduction
Ⅱ.Situation
Analysis
1. External analysis
- General Environmental Analysis
-
Industry Analysis (5 Forces Model Analysis)
- Competitive Analysis
2.
Internal analysis
- Value Chain Analysis
- Core competencies of Pulmuone
Waters
Ⅲ.S.W.O.T Analysis
Ⅳ.Strategy Formulation /
Implementation
S1. Distribution Improvement Strategy
S2. Diversification
Strategy
S3. Differentiation
Strategy
Ⅴ.Conclusion
Ⅴ.Bibliography
본문
Second, the
certainty of Pulmuone Waters’ profitability in the long run is proved by its
financial statements. Income statements in (Figure 2) show that sales revenue of
Pulmuone Waters has increased 134%. Which is from ₩34,543,000,000 in
2008 to ₩46,357,000,000 in 2010. It is a high number of figures
comparing to its competitors. For instance, Jinro&Hite has increased its
revenue 106%, which is from ₩63,819,000,000 to
₩67,917,000,000. Also, Lotte-Chilsung recorded 132%, which is from
₩51,064,000,000 to ₩67,917,000,000 in the same
period.
Balance Sheets Summary from 2003 to 2010
Fiscal yearTotal
assetsTotal liabilitiesTotal
equities
1036,98734,2122,775
0928,22225,2772,945
0827,11426,985129
0725,77022,2373,532
0625,96019,1856,775
Pulmuone
Waters’ balance sheets show that its debt ratio is high. The debt ratio was
0.925 in 2010, 0.896 in 2009, and 0.995 in 2008. Most of its liabilities are
short-run debt. This short-run debt seems to be used in investing activities.
According to cash flow statements from 2003 to 2010, most cash was used in
investing activities. In 2010, for example, net cash flow provided by operating
activities and financing activities were ₩4,730,000,000 and
₩7,807,000,000 each, while net cash flow used in investing activities
was -₩12,230,000,000. Investing activities include the purchase of
machinery, equipments, factories and software. The high number of cash flow in
investing activities stands for long-term investment. This implies that Pulmuone
Waters has a long-term point of view and considers long-term growth, recently
running a risk of a series of deficit rather than a short-term
achievement.
(Figure 3) Cash Flow Statements Summary from 2003 to
2010
Fiscal yearNet CF provided by operating activitiesNet CF used in
investing activitiesNet CF provided by financing activitiesNet change
in
cashCash and equivalents at the beginning of the yearCash and equivalents at the
end of the
year
104,730(12,230)7,80730766373
092,806(4,259)1,472194666
08(486)(3,543)4,045153046
07604(3,990)3,236(149)17930
06242(3,157)2,97358121179
(Figure
4) Income Statements Summary from 2003 to 2010
Fiscal yearSalesSales
CostSales ProfitOperating costOperating
incomeEBITNI
1046,35725,04421,31221,129183(169)(169)
0939,97921,52618,45218,616(164)(170)(170)
0834,54317,45017,09220,091(2,999)(3,403)(3,403)
0729,63914,49715,14117,455(2,314)(3,242)(3,242)
0628,82914,38014,44917,456(3,006)(3,062)(3,062)
0526,88013,58013,29916,009(2,709)(2,368)(2,096)
0427,31712,67714,63913,5551,0841,212917
036,1493,0033,1452,538607607471
Pulmuone
Waters’ financial state seems to be getting better to see the trend of operating
income. Since 2006, its operating income has shown -₩3,006,000,000 in
2006, -₩2,314,000,000 in 2007, -₩2,999,000,000 in 2008,
-₩164,000,000 in 2009, and finally ₩183,000,000 in 2010.
EBIT (Earnings Before Interest and Tax) and NI (Net Income) also show that its
deficits are getting smaller. In terms of probability for going into insolvency,
the current ratio does not show progress yet due to high rate of debt. However,
its inventory turnover ratio was 21.55 in 2008, 24.56 in 2009 and 29.38 in 2010.
This shows that increasing sales revenue might be able to resolve the liquidity
problem somehow. In terms of profitability ratios, the figures below show the
trend of ROA (Return On Assets), Profit Margin, and ROI (Return On Investment)
of Pulmuone Waters. As the graphs show distinctly, all indexes get better as
time goes by.
Financial analysis tells us that the enlargement of sales
revenue in the growing market is the key factor for Pulmuone Waters to succeed
in water business
본문내용
sis
1. External analysis
- General
Environmental Analysis
- Industry Analysis (5 Forces Model Analysis)
-
Competitive Analysis
2. Internal analysis
- Value Chain Analysis
- Core
competencies of Pulmuone Waters
Ⅲ. S.W.O.T Analysis
Ⅳ. Strategy
Formulation / Implementation
S1. Distribution Improvement Strategy
S2.
Diversification Strategy
S3. Differentiation Strategy
Ⅴ. Conclusion
Ⅴ.
Bibliography
Ⅰ.
참고문헌
1. PULMUONE WATERS
HOMEPAGE. Web. http://WWW.PULMUONEWATER.COM.
R.O.K. The National Statistical
Office. 2009 Food Statistics. Web. p.86
2. HAN, JUNGHUN. Drinking Water
Market Report. (2007). SERI.org. Web.
3. Financial statements of Pulmuone
Waters. from 2003 to 2010. http://www.dart.fss.or.kr.
4. Financial statements
of Jinro&Hite. from 2005 to 2010. http://www.dart.fss.or.kr.
5. Financial
statements of Lotte Chilsung. from 2005 to 2010.
http://www.dart.fss.or.kr.
6. Financial statements of Lotte Chilsung. from
2005 to 2010. http://www.dart.fss.or.kr.
7. Alexander, Carey. Vitaminwater
Isnt Healthy, Rules Federal Judge. The Consumerist.
Web. 18 May 2011.
http://consumerist.com/2010/07/vitaminwater-isnt-healthy-rules-federal-judge.html.
8.
Allen, Cliff. Tip the Scales in Your Favor With Product Differentiation.
Strategic Marketing
Consulting. Web. 19 May 2011.
http://www.allen.com/cgi-bin/gt/tpl.h,content=21
9. Acevedo, Laura. Product
Diversification Strategy | EHow.com. EHow
How to Videos, Articles & More
- Trusted Advice for the Curious Life | EHow.com.
Web. 21 May 2011.
http://www.ehow.com/way_5272073_product-diversification-strategy.html.
10.
생수시장 탐나네 너도나도 진출. Web. 27 May 2011.
http://www.hankyung.com/news/app/newsview.php?aid=2008061818441
11.
Overview. United Nations Global Compact. Web. 22 May 2011.
http://www.unglobalcompact.org/AboutTheGC/
12. Deep Ocean Water Web. 27
Apr. 2011.
http://cafe.naver.com/dswstudy.cafe?iframe_url=/ArticleRead.nhn?articleid=45
13.
이동현, 성재열, 지금희 “풀무원 샘물의 경쟁전략” (2006). Journal of Strategic Management
14. 풀무원
샘물 “풀무원 샘물 news letter autumn 2008”
15. 태평양, 올 영업이익 12.8% 증가예상-동양.
Edaily.co.kr. Ed. 상복 안. 15 Apr. 2003. Web. 27 May 2011.
http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=018&aid=0000026187
16.
불만제로. Dir. 영돈 이. Perf. 재용 이, 지애 문, 상진 오. MBC, 2011. Web. 30 Mar. 2011.
17. 우임
우선, ed. “물로 보지마” 생수시장 3000억 돌파. DONGAILBO. DONGA, 17 Feb. 2011 Web.
28 May
2011.
http://news.donga.com/3/all/20110216/34885472/1 |
댓글 없음:
댓글 쓰기