Vehicles at Affordable Prices for Student Community and Average Citizens - Coursework Example

Annual report to shareholders Name Course Tutor Date ANNUAL REPORT FOR THE 2007- 2011 FISCAL YEAR Aim Supply vehicles at affordable prices fo student community and average citizens throught western europe Mission Create job opportunities for the student community in college and those who have completed their studies Introduction Dear shareholders, As you know Vok Van co. Ltd is a new company, it is still new in the market and is picking up in the industry, however its aims and objectives are yet to be realized and its fruits are ripening. To bring you closer home, according to our business plan for Vok Van co. ltd, we came up with a outomotive company which supplies vehicles to the the european market, it begun with the aim of supplying the vehicles in the western Europe but due to growing demand for our products of the other parts of the continent, it ended up supplying the vehicles to the entire continent. The company has one factory situated in London and more than two thousand employees. This company aims at supplying vehicles at a cheaper price to its customers due to its cost mindedness. This will anable every one in the region to drive confindently a reliable car that is enviromental friendly. A word from the CEO This is to inform you that though this year is over, it was a full of challenges for Vok Van co. ltd. To begin with, we had to keep the company running at a profit despites the economic constraints in the country. The Vok Van co. ltd team worked hard in finding a way out in becoming a superior company that can manufucture excellent product for the customers. The Vok Van co. ltd team had to shift attension form profit orientedness to customer satisfaction. Its expectation to champion in bringing the fullest benefits to all the stakeholders and particularly to shareholders is now broadcasting itself in the returns i.e increament in shares nd interest. Full recovery of the financial crisis has never been attained after the industry was hit by the economic challenges, especially fuel and raw material prices inflation. Competition has never been an easy both in the domestic market as well as in the international market. The Vok Van co. ltd team has kept the pace in the industry, they have triet to stay a head of the competitors in the market place in terms of quality and prices of the products. The Vok Van co. ltd team efforts to meet your obligation as shareholders, its customers and the general society is evidnent especially in this world that is dynamic and requires quick action to keep the fire in the market burning. Those who doubt the efforts and progress of Vok Van co. ltd can confirm that it is moving to the right direction through its achievement in the market. The Vok Van co. ltd journey to prosperity is yet to begin. In Vok Van co. ltd priorities are the main things that affect the outomotive industry; economy, enrgy and enviroment . The Vok Van co. ltd is yet to confirm to the world that it can manage the enviroment through manufucturing vehicles that are enviromental friendlier. The customer world is yet to recieve exciting valuable vehicles that the longed for. No doubt this will increase our profitability ratio of the shareholders in the company. The Vok Van co. ltd is in the processs of transforming itself to produce quality products that are valued in the market and that can cope up with the dynamic world competition and enviroment. Its achievement in the recent past have made the team of the Vok Van co. ltd proud. It is a participant in a cut throat competition industry in the world that does not allow room for complacency. This will not slow Vok Van co. ltd team down but will motivate us to achieve even more and become the acrobats of the industry. We appreciate you continous effort and dedication to support the company and the industry in general. Simulation In a competition in with other small outomotive companies, Vok Van co. ltd emerged the best in five rounds in a simulation sponsored by University of London. The results of the first round was not pleasand as it emerged the second after Ford co. Ltd , although the company was still running at losses. This was attributed to the newness in the industry and less farmiliarity of market requirement and poor strategy. The results of the next round was pleasant, it scooped the top position. This can be attributed to the established criteria about key indicators to look at before making a dicision. This no doubt directly impacted on the perfomance of the company in the competion. The performance gave the employees confidence to do what they felt was right and could further improve the performance of the industry. In the third round, the company maintained the top position, the team still found an opportunity to better the profit margin and muximised on the position in the market place. hrough such, the company emerged the most profitable at the end of the competition. We the Vok Van co. ltd teaw however overlooked our target market. We will shift our focus to our niche market which was formed by the student and middle class people in our business plan who cannot afford to buy vehicles from othe firms in the industry. This will be done in accordance with the business plan that was written at the on set of the business. Prices during inflation was a mojor problem where the cost of production for a product went up due to the cost of raw materials. In future, will try to adjust the cost of the product as per the inflation of domestic currency. Vok Van co. ltd analysis VV3 Cars was the team’s best selling vehicles of the company according to the company simulation. Thoughtfully considering their decisions, we allowed ourselves to understand better where we might have gone wrong on the first round. Reflection had a big role in the decision making process of Vok Van co. Ltd. The poorly performing teams showed little ownership of the objectives and went on overlooking factors like inflation rates and future prediction, investment automation and prices of the product. Selecting the main indicators of the performance across five rounds, we are able to compile in the table below. It shows the performance of the various companies and the year of the respective performance. The table below shows the unit products supplied to the market for the respective year. This is courtesy of the statistics from the report attached. Company in order of performance /yr 2007 2008 2009 2010 2011 Von Van ltd 80067 89575 94234 95890 100865 VV3 ltd 87908 88109 89400 89345 88900 Ford ltd 77809 77543 77987 77025 78000 Milliners’ ltd 74760 76576 75465 76989 81876 Browess ltd 69876 71098 71800 71500 73080 The table above shows the production for both models fluctuated across the five-year period for the specific company. The total units produced by Vok Van co. ltd for a period of five years is 460631 vehicles which is 16969 vehicles more than the second best company in the region VV3 ltd which supplied a total of 443662. For the production distribution through the years it is not even but is keeps on incressing measning theere is a steady progress in the prodcution of the industry. Fiscal details When our customers buy our products, that is the vehicles, the money they pay inturn become our fincances. This is where we get our revenue, we do not go for more bank loans of stuff like that to suppliment our budget. Vehicles producred are sold to the local market, however those that go to international market are sold by our customers who are vehicle dealers but from europe. We do not have agents all over the world but only in europe which is our main market. Those vehicles that are exported to the other parts of the world becomes the responsibility of the dealers. However there is one advantage in this; they increase our market territiories and buy alot of vehicles at once creating need for manufucture of more and more all the time. Revenue for manufuctured vehicles is not recognized untill the time the vehicle has been paid for by the customer. We closely monitor wholesale buyers so that we produce vehicles to meet their demand in the market and therefore cannot fail to supply to them the product they want and in time. This company was formed at the time when the domestic economy was undergoing economic recession. Though its perfomance has always been threatened by the domestic and global economical recession, it is our challenge that we work hard to keep the pace and we have always done that. During our last year, we managed to record a highest profit margin of £3 billion which is twice the £1.49 billion of in our first year in the industry. Employees We are pleased to aknowleged that 45% of our employees are partime student. According to our business plan, we wanted to provide job opportuunities for students and fresh graduates. This is even better when one remembers that our niche market is the student community. Fresh graduates are our routine candidates whenever we have vacancies in the company and I like this fact. They work with an amazing energy towards achieving the set goals and objectiv Future The main intension of Vok Van co. Ltd. Is to produce enviromental friendly vehicles that minimised on the use of fuel. To attain these a contous research team is working tirelessly to improve on the existing vehicle models and minimise on the consuption of fuel. Heavy researse has been set rolling on the the field of electronig cars that are rechargeable. No doubt, the success of this will see our industry come to a new phase and Vok Van co. Ltd. The father will no doubt earn reputation on its products. Unemployment in England and united kingdom in general has seen youth to desparation. We ar looking forward to a team that has been give a contract find projects that will see more young people into the job market. References FIAT. (2011) FIAT at the 62ND Frankfurt international motor show.[Internet] Available from: . [Accessed 29 March 2011]. FIAT (2009 )Record CO2 emissions figures achieved by Fiat. [Internet] Available from: [Accessed 29 March 2011]. FORD (2009) Ford Motor Company/2009 Annual Report. [Internet] Available from: [Accessed 1 April 2011]. HYUNDAI (2010)Hyundai motor Achieves Fastest Export of 10 lakh cars. [Internet]Available from: [Accessed 28 March 2011]. KIA. (2000)Let's market to the earth village where the sun doesn't set. [Internet] Available from: . [Accessed 30 March 2011]. Lloyds TSB (2009) Annual Report and Accounts. [Internet] Available from: [Accessed 28 March 2011]. Radu, M.. (2011) Kia Motors America Achieved Best January Sales Month. [Internet] Available from: . [Accessed 29 March 2011]. The Houses of Parliament (2010) Electrical vehicles. [Internet] Available from: [Accessed 30 March 2011]. Note: I found it not wise to include in text citation in the paper as it will distort its proffessioinal look. If you find it necessary please notify me. Read More