|
To view this page ensure that Adobe Flash Player version 9.0.124 or greater is installed. ASSET UTILIZATION ..Asset Efficiency – The sales-to-asset ratio, also known as asset turnover, shows how effi-ciently the firm’s assets are being put to use by measuring the revenue generated per dollar of assets. The more sales generated from a given investment in assets, the more efficient those assets become. Since the assets are likely to change over the year, our analysis uses the average of the assets at the beginning and end of the year. For this purpose, the following formula is used: Asset Turnover = Net Income / Average Total Assets. ..Return on Assets (ROA) – Managers often measure the performance of a firm by the ratio of income to total assets. For this purpose, the following formula is used: Return on Assets = Revenue / Average Total Assets. CANVASSING SKEPTICS NEXA conducted a series of interviews with senior company officials to determine the range of factors that may contribute to outstanding company performance. We also investigated what im-pact, if any, business aircraft may have on a company’s operating or financial performance at the shareholder value and enterprise levels. First, we had to isolate mobility from other characteristics that make a high performance company, such as: . Industrial sector, as some sectors have consistently outperformed others over many years (for example, technology sector versus the IT sector). . Size and the ability to wield disproportionately greater resources to gain competitive advantage. . Management skills, including vision, leadership, experiential depth of knowledge or superior strategy (such as a propensity to invest in technology). . Mix of other items in its fixed asset portfolio, such as technology, systems, or even real es-tate, and their relative contribution to overall asset efficiency. Because it was a key tenet of the project, we devoted significant attention to understanding the different utilization strategies for business aircraft. We also detailed a range of financial and non-financial benefits that accrue to users, as well as the associated profiles of each, resulting in the UBV framework previously discussed. We then set out to identify the correlation of linkages (strengths) between these three dimensions of business aircraft operation (UBV). This also offered a way of structuring the final analysis to prove, one way or the other, whether a “user edge” exists. 中国公务机网 www.gongwuji.com 公务机翻译 www.aviation.cn 本文链接地址：BUSINESS AVIATION – AN ENTERPRISE VALUE PERSPECTIVE 2003 – 2009(24) |
