| Industries |
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| Investment Banking and Brokerage |
| Advertising |
| Health Care Distribution and Services |
| Exposures |
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| Cooperate |
| Regime |
| Political reform |
| Leadership |
| Express intent |
| Event Codes |
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| Military blockade |
| Agree |
| Warn |
| Sports contest |
| Yield to order |
| Vote |
| Pessimistic comment |
| Yield |
| Adjust |
| Force |
| Grant |
| Acknowledge responsibility |
| Accident |
| Wiki | Wiki Summary |
|---|---|
| Special Activities Center | The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015. |
| Competition | Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. |
| Perfect competition | In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In theoretical models where conditions of perfect competition hold, it has been demonstrated that a market will reach an equilibrium in which the quantity supplied for every product or service, including labor, equals the quantity demanded at the current price. |
| Monopolistic competition | Monopolistic competition is a type of imperfect competition such that there are many producers competing against each other, but selling products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. |
| Competition (biology) | Competition is an interaction between organisms or species in which both require a resource that is in limited supply (such as food, water, or territory). Competition lowers the fitness of both organisms involved, since the presence of one of the organisms always reduces the amount of the resource available to the other.In the study of community ecology, competition within and between members of a species is an important biological interaction. |
| Competition (economics) | In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. |
| Cournot competition | Cournot competition is an economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide on independently of each other and at the same time. It is named after Antoine Augustin Cournot (1801–1877) who was inspired by observing competition in a spring water duopoly. |
| Competition regulator | A competition regulator is the institution that oversees the functioning of the markets. And the Law in which it takes cognizance of situations having any type of impediments and distortions on the markets and correct them is the competition law (also known as antitrust law). |
| Climbing competition | A climbing competition (or comp) is usually held indoors on purpose built climbing walls. There are three main types of climbing competition: lead, speed, and bouldering. |
| New product development | In business and engineering, new product development (NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. |
| Profit (economics) | An economic profit is the difference between the revenue a commercial entity has received from its outputs and the opportunity costs of its inputs. It equals to total revenue minus total cost, including both explicit and implicit costs. |
| Profitability analysis | In cost accounting, profitability analysis is an analysis of the profitability of an organisation's output. Output of an organisation can be grouped into products, customers, locations, channels and/or transactions. |
| Profitability index | Profitability index (PI), also known as profit investment ratio (PIR) and value investment ratio (VIR), is the ratio of payoff to investment of a proposed project. It is a useful tool for ranking projects because it allows you to quantify the amount of value created per unit of investment. |
| Customer profitability | Customer Profitability Analysis (in short CPA) is a management accounting and a credit underwriting method, allowing businesses and lenders to determine the profitability of each customer or segments of customers, by attributing profits and costs to each customer separately. CPA can be applied at the individual customer level (more time consuming, but providing a better understanding of business situation) or at the level of customer aggregates / groups (e.g. |
| Profitable growth | Profitable Growth is the combination of profitability and growth, more precisely the combination of Economic Profitability and Growth of Free cash flows. Profitable growth is aimed at seducing the financial community; it emerged in the early 80s when shareholder value creation became firms’ main objective. |
| Customer Profitability Analysis | Customer Profitability Analysis (in short CPA) is a management accounting and a credit underwriting method, allowing businesses and lenders to determine the profitability of each customer or segments of customers, by attributing profits and costs to each customer separately. CPA can be applied at the individual customer level (more time consuming, but providing a better understanding of business situation) or at the level of customer aggregates / groups (e.g. |
| SAP ERP | SAP ERP is an enterprise resource planning software developed by the German company SAP SE. SAP ERP incorporates the key business functions of an organization. The latest version of SAP ERP (V.6.0) was made available in 2006. |
| Porter's five forces analysis | Porter's Five Forces Framework is a method of analysing the operating environment of a competition of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability. |
| Net income | In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period.It is computed as the residual of all revenues and gains less all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from gross income, which only deducts the cost of goods sold from revenue. |
| Godrej Consumer Products | Godrej Consumer Products Limited (GCPL) is an Indian consumer goods company based in Mumbai, India. GCPL's products include soap, hair colourants, toiletries and liquid detergents. |
| Manufacturing | Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. |
| Manufacturing Consent | Manufacturing Consent: The Political Economy of the Mass Media is a 1988 book by Edward S. Herman and Noam Chomsky. It argues that the mass communication media of the U.S. "are effective and powerful ideological institutions that carry out a system-supportive propaganda function, by reliance on market forces, internalized assumptions, and self-censorship, and without overt coercion", by means of the propaganda model of communication. |
| Manufacturing engineering | Manufacturing engineering is a branch of professional engineering that shares many common concepts and ideas with other fields of engineering such as mechanical, chemical, electrical, and industrial engineering. \nManufacturing engineering requires the ability to plan the practices of manufacturing; to research and to develop tools, processes, machines and equipment; and to integrate the facilities and systems for producing quality products with the optimum expenditure of capital.The manufacturing or production engineer's primary focus is to turn raw material into an updated or new product in the most effective, efficient & economic way possible. |
| Textile manufacturing | Textile manufacturing is a major industry. It is largely based on the conversion of fibre into yarn, then yarn into fabric. |
| Advanced manufacturing | Advanced manufacturing is the use of innovative technology to improve products or processes, with the relevant technology being described as "advanced," "innovative," or "cutting edge." Advanced manufacturing industries "increasingly integrate new innovative technologies in both products and processes. The rate of technology adoption and the ability to use that technology to remain competitive and add value to define the advanced manufacturing sector."Engineers globally have implemented a variety of advanced technologies to improve the efficacy and efficiency of critical parts, such as parts within high temperature engines or surgical equipment, such as utilizing advanced materials and miniaturizing critical parts. |
| Nadec | The National Agricultural Development Company (Nadec) is one of the largest agricultural and food-processing share stock companies in the Middle East and North Africa. Established in 1981 by royal decree, it is a joint stock public company – 20% owned by the government of Saudi Arabia, with the rest publicly traded on the Saudi Stock Exchange. |
| Hyundai Santa Fe | The Hyundai Santa Fe (Korean: 현대 싼타페) is a sport utility vehicle (SUV) produced by the South Korean manufacturer Hyundai since 2000. It is named after the city of Santa Fe, New Mexico, and was introduced for the 2001 model year as Hyundai's first SUV. The Santa Fe was a milestone in the company's restructuring program of the late 1990s because the SUV was a hit with American buyers. |
| Lufthansa | Deutsche Lufthansa AG (German pronunciation: [ˌdɔʏtʃə ˈlʊfthanzaː]), commonly shortened to Lufthansa, is the flag carrier of Germany. When combined with its subsidiaries, it is the second-largest airline in Europe in terms of passengers carried. |
| The Pepsi Bottling Group | The Pepsi Bottling Group, Inc. was the world's largest bottler of Pepsi-Cola beverages. |
| Gobelins Manufactory | The Gobelins Manufactory (French: Manufacture des Gobelins) is a historic tapestry factory in Paris, France. It is located at 42 avenue des Gobelins, near Les Gobelins métro station in the 13th arrondissement of Paris. |
| Build-on-demand | Build-on-demand or manufacturing on demand (MOD) refers to a manufacturing process where goods are produced only when or as they are required. This allows scalability and adjustable assemblies depending on the current needs of the part requestor or client. |
| Manufacture nationale de Sèvres | The Manufacture nationale de Sèvres is one of the principal European porcelain factories. It is located in Sèvres, Hauts-de-Seine, France. |
| Design for manufacturability | Design for manufacturability (also sometimes known as design for manufacturing or DFM) is the general engineering practice of designing products in such a way that they are easy to manufacture. The concept exists in almost all engineering disciplines, but the implementation differs widely depending on the manufacturing technology. |
| Computer-aided manufacturing | Computer-aided manufacturing (CAM) also known as computer-aided modeling or computer-aided machining is the use of software to control machine tools in the manufacturing of work pieces. This is not the only definition for CAM, but it is the most common; CAM may also refer to the use of a computer to assist in all operations of a manufacturing plant, including planning, management, transportation and storage. |
| U.S. Consumer Product Safety Commission | The United States Consumer Product Safety Commission (USCPSC, CPSC, or commission) is an independent agency of the United States government. The CPSC seeks to promote the safety of consumer products by addressing “unreasonable risks” of injury (through coordinating recalls, evaluating products that are the subject of consumer complaints or industry reports, etc.); developing uniform safety standards (some mandatory, some through a voluntary standards process); and conducting research into product-related illness and injury. |
| Mergers and acquisitions | In corporate finance, mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. |
| Knowledge acquisition | Knowledge acquisition is the process used to define the rules and ontologies required for a knowledge-based system. The phrase was first used in conjunction with expert systems to describe the initial tasks associated with developing an expert system, namely finding and interviewing domain experts and capturing their knowledge via rules, objects, and frame-based ontologies. |
| Risk Factors |
|---|
| COLGATE PALMOLIVE CO ITEM 1A RISK FACTORS Set forth below is a summary of the material risks to an investment in our securities |
| We face risks associated with significant international operations We operate on a global basis, with approximately 74prca of our net sales coming from operations outside the US While geographic diversity helps to reduce the Company’s exposure to risks in any one country or part of the world, it also means that we are subject to the full range of risks associated with significant international operations, including, but not limited to: • changes in exchange rates for foreign currencies, which may reduce the US dollar value of revenue we receive from non-US markets or increase our labor or supply costs in those markets, • political or economic instability or changing macroeconomic conditions in our major markets, and • changes in foreign or domestic legal and regulatory requirements resulting in the imposition of new or more onerous trade restrictions, tariffs, embargoes, exchange or other government controls |
| We monitor our foreign currency exposure to minimize the impact on earnings of foreign currency rate movements through a combination of cost-containment measures, selling price increases and foreign currency hedging of certain costs |
| We cannot assure you, however, that these measures will succeed in offsetting any negative impact of foreign currency rate movements |
| Significant competition in our industry could adversely affect our business We face vigorous competition around the world, including from other large, multinational consumer product companies, some of which have greater resources than we do |
| We face this competition in several aspects of our business, including, but not limited to: • the pricing of products, 3 ______________________________________________________________________ • promotional activities, • advertising, and • new product introductions |
| We may be unable to anticipate the timing and scale of such activities or initiatives by competitors or to successfully counteract them, which could harm our business |
| In addition, the cost of responding to such activities and initiatives may affect our financial performance in the relevant period |
| Our ability to compete also depends on the strength of our brands, whether we can attract and retain key talent, and our ability to protect our patent, trademark and trade dress rights and to defend against related challenges brought by competitors |
| A failure to compete effectively could adversely affect our growth and profitability |
| Changes in the policies of our retail trade customers and increasing dependence on key retailers in developed markets may adversely affect our business Our products are sold in a highly competitive global marketplace which is experiencing increased trade concentration and the growing presence of large-format retailers and discounters |
| With the growing trend toward retail trade consolidation, especially in developed markets such as the US and Europe, we are increasingly dependent on key retailers, and some of these retailers, including large-format retailers, may have greater bargaining strength than we do |
| They may use this leverage to demand higher trade discounts, allowances or slotting fees which could lead to reduced sales or profitability |
| We may also be negatively affected by changes in the policies of our retail trade customers, such as inventory de-stocking, limitations on access to shelf space, delisting of our products and other conditions |
| In addition, private label brands sold by retail trade chains, which are typically sold at lower prices, are a source of competition for certain of our product lines |
| The growth of our business depends on the successful development and introduction of new products Our growth depends on the continued success of existing products, as well as the successful development and introduction of new products and line extensions, which face the uncertainty of retail and consumer acceptance and reaction from competitors |
| In addition, our ability to create new products and line extensions and to sustain existing products is affected by whether we can • develop and fund technological innovations, • receive and maintain necessary patent and trademark protection, • obtain governmental approvals and registrations of regulated products, • comply with Food and Drug Administration (FDA) and other governmental regulations, and • anticipate successfully consumer needs and preferences |
| The failure to develop and launch successful new products could hinder the growth of our business |
| Also, any delay in the development or launch of a new product could result in our not being the first to market, which could compromise our competitive position |
| Rising material and other costs and our increasing dependence on key suppliers could adversely impact our profitability Raw and packaging material commodities such as resins, tallow, corn and soybeans are subject to wide price variations |
| Increases in the costs of these commodities and other costs, such as energy costs, may adversely affect our profit margins if we are unable to pass along any higher costs in the form of price increases or otherwise achieve cost efficiencies in manufacturing and distribution |
| In addition, our move to global suppliers, to achieve cost reductions and simplify our business, has resulted in an increasing dependence on key suppliers |
| For certain materials, new suppliers may have to be qualified under industry and government standards, which can require additional investment and take some period of time |
| 4 ______________________________________________________________________ Our results could suffer if we do not implement our 2004 Restructuring Program according to our expectations In December 2004, we commenced the 2004 Restructuring Program, a four-year restructuring and business-building program to enhance our global leadership position in our core businesses |
| This program presents significant organizational challenges and in many cases will require successful negotiations with third parties, including labor organizations and business partners who may provide us manufacturing or administrative services |
| We cannot assure you that: • the 2004 Restructuring Program will be implemented in accordance with the planned timetable, • the actual charges incurred will not exceed the estimated charges, or • the full extent of the expected savings will be realized |
| A failure to implement the 2004 Restructuring Program in accordance with our expectations could adversely affect our profitability |
| Our business is subject to regulation in the US and abroad The manufacture and sale of consumer products is subject to extensive regulation in the US and abroad |
| This regulation includes, but is not limited to, the following: • in the US, our products and the manufacture of our products are subject to regulation, by the Food and Drug Administration, as well as by the Consumer Product Safety Commission, and the Environmental Protection Agency, • also in the US, claims and advertising with respect to our products are regulated by the Federal Trade Commission, • we are also subject to regulation in the foreign countries in which we manufacture and sell our products and by state and local agencies in the US that regulate in parallel to the above agencies, and • our selling practices are regulated by competition authorities both in the US and abroad |
| A finding that we are in violation of, or out of compliance with, applicable laws or regulations could subject us to civil remedies, including fines, injunctions or product recalls, or criminal sanctions, any of which could have a material adverse effect on our business |
| We have obtained all required regulatory approvals to manufacture and sell our products |
| New or more restrictive regulations, however, could have an adverse impact on our business |
| For example, while the FDA has approved the use of triclosan in Colgate Total toothpaste, the use of triclosan in certain consumer products is under regulatory review in Europe and in certain other countries |
| Also, in the US, the FDA is examining the use of certain anti-microbials, including triclosan, in anti-microbial hand soaps |
| A finding by the FDA or an overseas regulatory authority that triclosan should not be used in certain consumer products could have an adverse impact on our business, as could negative reactions to triclosan from consumers, our trade customers or non-governmental organizations |
| Our business is subject to the risks inherent in global manufacturing activities As a company engaged in manufacturing on a global scale, we are subject to the risks inherent in such activities, including, but not limited to: • availability of key raw materials, • industrial accidents or other occupational health and safety issues, • environmental events, • strikes and other labor disputes, 5 ______________________________________________________________________ • disruptions in logistics, • loss or impairment of key manufacturing sites, • product quality or safety issues, • licensing requirements and other regulatory issues, • as well as natural disasters, acts of war or terrorism and other external factors over which we have no control |
| While we have business continuity and contingency plans for our manufacturing sites which are strategically located around the world, significant disruption of manufacturing for any of the above reasons could interrupt product supply and, if not remedied, have an adverse impact on our business |
| Acquisitions may not be successful From time to time, we make strategic acquisitions, such as the June 2004 acquisition of GABA, a European oral care company |
| Acquisitions have inherent risks, including, but not limited to, whether we can: • successfully integrate the acquired business, • achieve projected synergies and performance targets, and • retain key personnel |
| Depending on the significance of the acquisition, the failure to achieve expected synergies or projections could have an adverse effect on our results |
| The risks described above are not the only ones we face |
| Additional risks not presently known to us or that we currently deem immaterial may also have an adverse effect on us |
| If any of the above risks actually occur, our business, results of operations, cash flows or financial condition could suffer, which might cause the value of our securities to decline |