Sample Of Profit & Loss Statement - Petsmart Charities: Fill & Download for Free

The story goes that Jamshedji Nusserwanji Tata was once, travelling to Germany (This excerpt is taken from the writings of Mr. Mohan Guruswamy). As he stood there, at the door of his First Class Cabin in the Steam-liner, he noticed a lot of activity on the lower decks of the Ship. On enquiring, he learnt that a great Indian Saint Shri Swami Vivekananda was on board the same ship.Out of genuine respect and curiosity J.N. Tata decided to pay a visit to the great saint. Swami Vivekananda had of-course heard about the respected industrialist. As the conversation grew J.N. Tata explained that he was on his way to Germany.“I have with me sacks of soil : From various parts of India. I am taking these samples of soil to Germany. I wish to know IF Iron can be extracted profitably from any of these districts.” said J.N. Tata to the Saint.To which Swami Vivekananda replied, “Well, Sir, Even IF these sacks contain Iron-rich soil, do you honestly believe that the Germans will tell you the TRUTH??? You must understand that No / NONE of the European Nations wish to see a Strong / Steel-Rich / Economically Independent India. The soil is probably rich in Iron-ore but the sad truth is all you will get from your enquiries across Europe is Disbelief and Pessimistic reactions.”Needless to say, having interacted with several Europeans J.N. Tata knew this to be true. Swami Vivekananda continued, “Why don’t you start an excellent / up-to-date Research Facility and College here in India??? Why don’t you train some good Indian Youngsters to identify soil and conduct these tests and find ways of profitably extracting metals??? It may seem like a wasteful; burdensome expenditure right now, but in the long run- It will save you many trips to Europe and you can have the assurance of knowing the Truth quickly- rather than taking multiple opinions due to Doubt”.As he could clearly sense J.N. Tata’s mood was in acquiescence he further elaborated, “Seek an audience with the Maharaja of Mysore Shri Krishnaraja Wodeyar IV.Though a subordinate of the British, he will definitely help you in every way he can. H.R.H. Wodeyar has been generous enough to sponsor my own trip to Chicago to attend the Parliament of Religions.By the way this is the story of the finest Education Institute of India, The Indian Institute of Science (IISc) , Bangalore commonly known as the Tata institute.

In May 2006, two employees of the Coca Cola Company were arrested and sentenced for trying to sell corporate secrets to Pepsi, undisputably their greatest rival.These two men approached Pepsi, who instantly turned the two men in to the FBI despite being offered a sample of a new drink that supposedly contained a sample of a new Coke product.Now as much as that sounds like Pepsi just doing the right and ethical thing and respecting their competitors this way, let’s consider this.Let’s say that Pepsi knew Coke’s secret formula and could publish it so that anyone could make a drink that tasted just like Coke. That would be a lot like what happens to prescription drugs when they go off patent and generic drug companies come in. The impact would be that the price of real Coke would fall a lot (probably not all the way to the price of the generic Coke knockoffs). This would clearly be terrible for Coke. It would probably also be bad for Pepsi. With Coke now much cheaper, people would switch from Pepsi to Coke. Pepsi profits would likely fall.So if Pepsi had Coke’s secret formula, they wouldn’t want to give it away to everyone. What if they instead kept it to themselves and made their own drink that tasted exactly like Coke? If they could really convince people that their drink was identical to Coke, then the new Pepsi-made version of Coke and the Real Thing would be what economists call “perfect substitutes.” When two goods are essentially interchangeable in consumers’ minds, that tends to lead to fierce price competition and very low profits. Neither Coke nor the Pepsi knockoff of it would be very profitable as a consequence. With the price of Coke lower, consumers would switch away from the original Pepsi to either Coke or the new Pepsi-made Coke knockoff, which would be far less profitable than original Pepsi anyway.Freakonomics, 2006Even if Pepsi had the secret recipe to Coke, they wouldn’t be able to make and market it.Sources:2 ex-Coke employees�sentenced in�trade secret case�How much would Pepsi pay to get Coke's secret formula? - Freakonomics

It depends on point of view, doesn't it?If you are among the families of numerous victims of the poor Pinto design, or miners who were subjected to unsafe working conditions, or people poisoned by unsafe food products, or children injured or killed by improperly manufactured toys or equipment, litigation has been quite useful in compensating victims and families for their losses. (This is a very, very small sampling.)Of course, this compensation comes at the expense of maximization of profitability and is viewed by some as a drag on the wonderful virtues of unregulated free markets, and to people of that inclination, I assume they find litigation less useful.I am in the first camp.