Joy, who has completed his first finance course, is unsure whether he should take a course in business analysis and valuation using financial statements since he believes that financial analysis adds little value, given the efficiency of capital markets. Explain to Joy when financial analysis can add value, even if capital markets are efficient. 2. In 2005, Puma was a very profitable sportswear company. Puma did not produce most of the shoes, apparel and accessories that it sold.
Instead the company entered onto contracts with independent manufacturers, primarily in Asia. Puma also licensed independent companies throughout the world to design, develop, produce and distribute selected range of products under its brand name. Use the five forces framework and your knowledge of sportswear industry to explain Puma’s high profitability in 2005. The Baccarat Trading Corporation incorporated in 1945 was renamed as Baja] Auto Private Limited in 1960. The company manufactures Baja] brand of scooters, motorcycles and spare parts.