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What is Strategic Planning?Strategic planning ensures that a company’s portfolio is balanced in terms of profit, overall risk, and cash flows. Strategic planning is, therefore, the tool by which the progress of a company can be ensured.Strategic planning decides the strategy. Planning is done at the top level of a company while the strategy is applied at the ground level where managers apply the strategies as directed by the top-level managers.However, businesses often make strategic plans and see them fail while executed. The fault is not in the plan, but of the people who are going to execute it. In ... Read More
Although strategy and strategic plan are considered as the same, it is wrong to assume so. There are some distinct differences between strategy and strategic plans. Strategy and strategic plan are the parts of financial planning wherein companies try to chart their future course of action depending on the resources that the company has under its control. Let’s look at strategy and strategic planning individually to understand what they mean and what their basic differences are.What is Strategy?Strategy is the base of planning but it is not the planning itself. The strategy provides the platform for the company to build ... Read More
What is Discriminant Analysis?Discriminant analysis is a widely used tool in Machine Learning, Statistics, and Finance. It is a manner to classify the targets based on some assumptions, and then use them to predict the future of a process. As is obvious, since investors and analysts want to predict a company’s power in the future, the tool is of prime importance to them.The discriminant analysis relies upon continuous independent variables to form a pattern that shows relationships between two parameters or predictive equations that may satisfy the relationship for the data sets. These equations are then used to classify the ... Read More
Parametric Methods of Efficiency Vs Non-Parametric Methods of EfficiencyParametric and non-parametric methods of efficiency measurement have gained significant momentum in the current decade. However, the choice of the method for efficiency management has been a matter of lengthy debate. The parametric method has the advantage of being free from the random noise of inefficiency. However, separating true noise from the process may be a restrictive process.The non-parametric method has the advantage of justifying the axiomatic properties. It also does not have as many restrictive properties as that in the parametric method. However, non-parametric methods do not differentiate between true inefficiency ... Read More
What is Ratio Analysis?Ratio analysis is a good way of comparing the conditions of a business with its peers. It helps businesses understand their own strengths and weaknesses.Ratio analysis are basically tools to measure the various relationships between two or more financial items. It also helps businesses compare themselves with companies of scale. However, there are some drawbacks of ratio analysis that affect its efficiency.Limitations of Ratio AnalysisThere are some prominent drawbacks of ratio analysis which analysts and investors should be aware of. They are as follows −Base of ComparisonAlthough ratio analysis is a good way to measure the performances ... Read More
What is Inter-Firm Comparisons?Financial ratios can be compared with one another in order to get a gist of the performance and other attributes of a company in relation to the other major firms. Such a performance of a company that shows the financial ratios is known as Cross-Sectional Analysis or Inter-Firm Comparison.In an Inter-Firm Comparison chart, various attributes such as Market Share, Return on Equity (ROE), Net Worth (NW), Capital Employed (CE), Net Sales (NS), Profit Before Interest and Taxes (PBIT), etc., are put in one table. This table helps one to see the performance and efficiency of one company ... Read More
Businesses use past and present data in order to find a pattern and predict the future. This review of past and present forms of data is usually known as Trend Analysis which is one of the most popular tools in the hands of financial analysts and managers. Ratio analysis, on the other hand, are tools to measure the various relationships between two or more financial items.Financial ratios can be used to represent trend analysis. In fact, financial ratios are the backbone of trend analysis.Trend Analysis Vs Ratio AnalysisFollowing are the differences between Trend analysis and Ratio analysis −Based on the ... Read More
The method in which no energy is drawn from the supply system during braking period and some energy is fed back to the supply system is known as regenerative braking.Calculation of Energy Returned During RegenerationWhen the train is accelerated up to a certain speed, then it acquires energy, (known as kinetic energy), corresponding to that speed and this kinetic energy is given by, $$\mathrm{KE\mathrm{\: =\: }\frac{1}{2}\mathit{mv^{\mathrm{2}}}}$$During coasting period, a part of this stored energy is utilized in propelling the train against frictional and other resistances to motion and hence the speed of the train falls. Under ideal conditions, i.e. no ... Read More
Energy output is the energy required for the propulsion of a train, it is mainly for accelerating the train from the rest to maximum velocity (Vm) and the energy required to overcome the gradient and track resistance to motion.The specific energy output is defined as −$$\mathrm{Specific\: Energy\: Output\mathrm{\: =\: }\frac{Energy\: output\: in \: watt \: hours}{Weight\: of\: train\: in\: tons\times distance\: of\: run\: in \: km}}$$The specific energy output is measured in watt-hours per ton-km. The specific energy output is used for comparing the dynamic performances of trains operating to different schedules.Determination of Specific Energy Output of an Electric TrainAssume ... Read More
In this article, we will see what a synchronous motor is and how it differs from an asynchronous motor. We will compare and contrast the various features of synchronous and asynchronous motors.What is an Electric Motor?The electrical machines that convert electrical energy into mechanical energy are known as electric motors. Based on the electric supply input to the motor, they are of two types viz.: AC motor and DC motor. The AC motors are further classified into two types viz. − synchronous motors and asynchronous motors. These motors have some similarities and some differences in their construction, operation and performance.What ... Read More