TABLE OF CONTENT

CHAPTER-1

Introduction:

1.1Objective of the study1.2Need of study1.3Scope of the study1.4Limitations of study

CHAPTER-2

Research methodology:

2.1Definitions and meaning2.2Hypothesis• Null hypothesis• Alternative hypothesis2.3Tests of Analysis

CHAPTER-3

3.1 Company profile

CHAPTER-4

4.1 Data analysis and interpretation

CHAPTER-5

5.1 Findings Bibliography

Chapter - I

Introduction:

I felt that i had to analyze the day to day to functions of an organization . The

main factors i want to analyze is its vision , mission statement of the organization

and its goals. I also explore the various departments of the organization and their

way to tackle the problem by making the right

decision.

Thus my company analysis presents the various perspectives the

company which made a detailed analysis towards the various products and

the material from NIKE pvt. ltd . This analysis report helped me to understand the

various new significant process. The analysis is all about the complete information

about the models of the products of the company. This analysis is a mixture of

various components that provide the valuable information about the one of the

best multi national company NIKE pvt. Ltd is renowned for its footwear which is

not an exception in India too.

It is a well known fact that Nike products have worldwide popularity there

will be continuous demand for the quality of products they produce. So they had

taken many measurements to keep the quality of the product as per the aspiration

of their consumers , and thus showing that Nike Pvt. Ltd. is aware about their

corporate social responsibility . The company future will be on the brighter side

only in present market scenario because of people always be passionate to wear

new styles and reaching the needs of sportsmen , where Nike is always first to do

it.

Objectives of the study :

The first and most important objective was to explore and synthesize the

information about the products in the footwear

The primary objective is to study the perception of Nike towards

consumer demands and faith in about the company

The secondary objective are as follows :

a. To know who or which factors play a key role in making decision

in purchase raw materials and selling methodology.

b. Brand awareness of Nike Across the world

c. Various factors that influence the sales of the Nike products

1.2 Needs of study

As a student of Business Administration a need is felt to

understand the Overview of an Organization in its Financial, Marketing and

Human resource Performance examining the overview of the factors which will

help a student like me to gain insight in the mission , vision and operational goals

and strategies of Organizational to perform well to the satisfaction of its stake

holders.

1.3 scope of study :

The initial marketing effort was simple in its scope. Knight sold the

company's shoes out of the trunk of his car.

The initial market was collegiate, distance runners, who Knight accessed by

driving around the country from university to university. From these humble

beginnings Nike has developed into the dominant force in athletic apparel on

a world-wide scope.

Limitations of nike company:

The data is collected from secondary source due to lack of time for preparing

the project.

The data is not 100% accurate.

The duration of the study was limited and hence elaborate and

comprehensive project survey was not undertaken.

The personal biases of the respondents might have entered into their

response.

Because of a small period of time only small sample had to be considered

which doesn’t actually reflect and accurate picture.

Chapter - II

2.1 Meaning:

Research methodology typically involves a full breakdown of all the options that

have been chosen by a company in order to investigate something.

This would include the procedures and techniques used to

perform the research; as well as any of the terminology and explanations of how

these methods will be applied effectively.

A company may need to decide what format of research they want to use before

the investigation begins. For example, if a company that sells a particular product

needs to launch research to find out how effective or desirable a new product is,

they will need to conduct what is known as primary research. This method means

that the company will collect data and information themselves

first hand.

Definition:

“Procedures used in making systematic observations or Other

wise obtaining data, evidence, or information as part of a research

project or study” Is being undertaken within a framework of a set of philosophies

(approaches) Uses procedures, methods and techniques that have been tested for

Their Validity and reliability Is designed to be unbiased and objective.

Sources of data

1. Primary data:

Primary data is gathered for a specific purpose. for example a company might a

specific own customers directly to find out more about their buying habits, Primary

data means data you get by yourself through experiment or other ways. Primary

data is collect information.

2. Secondary data:

The data collected by someone other than the user. Common sources of secondary

data for social science include censuses, surveys, organizational records and data

collected through qualitative methodologies or qualitative research. Primary data,

by contrast, are collected by the investigator conducting the research.

Secondary data analysis saves time that would otherwise be spent collecting data

and, particularly in the case of quantitative data, provides larger and higher-quality

databases than would be unfeasible for any individual researcher to collect on their

own. In addition to that, analysts of social and economic change consider

secondary data essential, since it is impossible to conduct a new survey that can

adequately capture past change and/or developments.

2.2 Hypothesis

Hypothesis testing means subjecting a hypothesis to appropriate empirical scrutiny

and statistical test to determine its validity. A researcher has to do a number of

things as pre requirements for testing a hypothesis. Hypothesis testing is two types

that are

1. null hypothesis(H0)

2. alternative hypothesis (Ha)

1)Null hypothesis (Ho):

A type of hypothesis used in statistics that proposes that no statistical

significance exists in a set of given observations. The null hypothesis attempts to

show that no variation exists between variables, or that a single variable is no

different than zero. It is presumed to be true until statistical evidence nullifies it for

an alternative hypothesis.

2)Alternative hypothesis (Ha):

Alternative hypothesis is the "hypothesis that the restriction or set of

restrictions to be tested does NOT hold." Often denoted H1. Epidemiology A

hypothesis to be adopted if a null hypothesis proves implausible, where exposure is

linked to disease. See Hypothesis testing.The null hypothesis is specifically

formulated for testing for possible rejection or nullification. Hence the name null

hypothesis. It is accompanied by an alternative hypothesis.

2.3 Test of analysis

T-test:

The t-test was developed by W.S.Gosset around 1915.since he published his

finding under a pen name student, it is known as student’s t-test. It is suitable for

testing the significance of a sample mean or for judging the

significance of difference between the means of two samples,

when the samples are less than 30 in number and when the

population variance is not known. When two samples are related,

the paired t- test is used. The t-test can be used for testing the

significance of the coefficients and partial correlations.

Formula:

chi-square test :

It is used to make comparisons between two or more nominal variables. Unlike the

other tests of significance, the chi-square is used to make comparisons between

frequencies rather than between mean scores.

Formula

Chapter-III

NIKE INTRODUCTION

Nike, Inc. is a major publicly traded sportswear and equipment supplier based in

the United States. The company is headquartered near Beaverton, Oregon, which is

part of the Portland metropolitan area. It is the world's leading supplier of athletic

shoes and apparel and a major manufacturer of sports equipment with revenue in

excess of US$18.6 billion in its fiscal year 2008 (ending May 31, 2008). As of

2008, it employed more than 30,000 people worldwide. Nike and Precision Cast

parts are the only Fortune 500 companies headquartered in the state of

Oregon according to The Oregonian.

The Nike company began in 1964 as Blue Ribbon Sports, was founded by

University of Oregon track athlete Phil Knight and his coach Bill Bower man, first

distributing Japanese brand of running shoes in the USA. 1972 was the first year of

using the famous mark known as the Swoosh on Nike's first line of footwear. The

rest is history. Nike products are well received in practically every sport venue -

tennis - first represented by Ilie Nastase and John McEnroe and now by Rafael

Nadal, golf with Tiger Woods, basketball Air Force One and Nike Air Jordan

represented by Michael Jordan, etc. 

The Nike company has been taking an active and leading role in supporting,

sponsoring and organizing sports events, like Nike Prefontaine Classic, Nike is

also the official sponsor for the Indian cricket team, sponsors famous

soccer clubs such as Arsenal, Manchester United, Barcelona, Valencia,

Inter Milan and Juventus, various minor events including Hoop It Up (high

school basketball) and The Golden West Invitational (high school track and field). 

According to Wikipedia - Nike sells an assortment of products, including shoes

and apparel for sports activities like association football, basketball, running,

combat sports, tennis, American football, athletics, golf and cross training for men,

women, and children. Nike also sells shoes for outdoor activities such as tennis,

golf, skateboarding, association football, baseball, American football, cycling,

volleyball, wrestling, cheerleading, aquatic activities, auto racing and other athletic

and recreational uses. Nike is well known and popular in Youth culture, Chav

Culture and Hip hop culture as they supply urban fashion clothing. Nike recently

teamed up with Apple Inc. to produce the Nike+ product which monitors a runner's

performance via a radio device in the shoe which links to the iPod nano.

HISTORY

Bill Bowerman and Phil Knight founded Nike Inc. as Blue Ribbon Sports in 1962.

The partners began their relationship at the University of Oregon where Bowerman

was Knight’s track and field coach. While attending Stanford University, Knight

wrote a paper about breaking the German dominance of the U.S. athletic shoe

industry with low-priced Japanese shoes. In an attempt to realize his theory, Knight

visited Japan and engineered an agreement with the Onitsuka Tiger company, a

manufacturer of quality athletic shoes, to be their sole distributor in the

UnitedStates.

\

In 1962, Knight received the first shipment of 200 pairs of Tiger shoes to his

parent’s garage in Oregon. The shoes were bought by Blue Ribbon Sports (BRS),

the name of the partnership between Knight and Bowerman that they formed with

only $1,000 in capital. Knight peddled Tiger’s shoes at local track meets grossing

$8,000 of sales in their first year. In 1966, Bowerman, who had previously

designed shoes for his university athletes,

worked with Tiger to design the Cortez running shoe. The shoe was a worldwide

success for the Onitsuka Tiger Company and was sold at the first BRS store. In

1971, BRS, with creditor support, started manufacturing their own line of shoes.

Later that year, the first BRS shoe was introduced. The shoe was a soccer shoe that

bore the Nike brand name, referring to the Greek Goddess of Victory, and the

Swoosh trademark. A student designed the Swoosh trademark for a paltry fee of

$35. The Swoosh was meant to symbolize a wing of the Greek Goddess.

1972 marked the breakup of the BRS/Tiger relationship. BRS soon changed its

name to Nike, Inc. and debuted itself at the 1972 Olympic trials. In 1973, Steve

Prefontaine was the first prominent track star to wear Nike shoes. The late 70’s and

early 80’s also saw John McEnroe, Carl Lewis, and Joan Benoit sporting Nike

shoes. Nike popularity grew so much that in 1979 they claimed 50% of the U.S.

running market. A year later with 2,700 employees,

Objectives of the study

Nike’s marketing objective is to employ a range of marketing communication

tactics that can cater to the organization’s target market, who have different

nationalities, genders, cultures, and ages. To enable this, Nike introduces its latest

products through a marketing communication group that can strengthen the

“positioning of, and key messages about, the Nike brand,” through different forms

of visual aids and point-of-purchase advertising. In connection to this, Nike

continuously aims to apply marketing tactics that are appropriate with the people

who reside in these continents or nations. For example, aside from traditional

advertising in the form of television, billboards, and the like, Nike also makes use

of contemporary marketing instruments such as the internet, wherein people in

almost any part of the world could access various sites to customize Nike shoes

and products. Moreover, Nike applies an effective marketing communication and

at the same time still relatively manages to be cost-effective in terms of its

marketing programs. Although Nike’s marketing expenses may seem excessive,

they employ internationally recognized

celebrity athletes; they overflow retail networks with promotions of products

and other giveaways. According to Knight and Greenberg (2002, pg 548), the

integration of endorsements and sponsorships enables Nike to represent itself as a

socially concerned actor promoting sport as a solution to social problems.The

company’s campaign theme is JUST DO IT. The Campaign will target men and

woman and especially those in the basketball scene that are of 14 to 30 years of

age. Nike sprint shoes are not only good shoes to wear but are strong, durable and

comfortable, this way, the company will convince them to take action. The

campaign will also exist as billboards; through celebrity endorsements like

Michael Jordan and James Lebron.The Company will also use electronic media

(commercials, official website of Nike and newspapers) to promote the...

scope of studay:

The initial marketing effort was simple in its scope. Knight sold the

company's shoes out of the trunk of his car. The initial market was collegiate,

distance runners, who Knight accessed by driving around the country from

university to university. From these humble beginnings Nike has developed into

the dominant force in athletic apparel on a world-wide scope.

BEAVERTON, United States — By 2011, Nike will have improved labor

conditions at all its factories worldwide, be a climate-neutral company, and

reduced the waste from its products by 17 percent, according to new goals the

company announced today.

Nike released its Corporate Responsibility Report for fiscal 2005 and 2006

yesterday, and a major element of the report focuses on how the company can

more deeply integrate CSR goals into its long-term business strategies.

"We see corporate responsibility as a catalyst for growth and innovation" said

Nike CEO Mark Parker. "It is an integral part of how we can use the power of our

brand, the energy and passion of our people, and the scale of our business to create

meaningful change."

On the labor side, Nike plans to eliminate excessive overtime in all its contract

factories worldwide by 2011. Citing excessive overtime as one of the biggest labor

compliance issues the industry faces, Nike said it has set a high priority on that and

other working conditions for its nearly 800,000 contract factory workers. Nike also

released the guidelines and benchmarks the company uses to audit and evaluate

factories. The tools are posted on NikeResponsibility.com, and include an

extensive list of questions and guidance for maintaining the safety and

environmental quality of its contract factories. The company also announced that it

would make all its facilities, retail stores and its business travel climate

neutral by 2011. This announcement follows a previous goal to reduce

emissions by joining the World Wildlife Fund's Climate Savers program. Nike said

it has exceeded its CO2 emissions-reduction targets over the last two years through

the program. The climate commitment extends to the gases involved in its Nike Air

products the company has already ceased using fluorinated gases in all its products.

Waste reduction goals make up a big chunk of yesterday's announcement. Nike

said it will redesign all its branded products -- including more than 225 million

pairs of shoes sold every year -- to meet its 2011 baseline goal of reducing

footwear waste by 17 percent and reducing packaging waste by 30 percent. Nike

also said it would invest $215 million more into community based sports inititives

that it says can change young peoples' lives. The money, on top of the $100 million

the company has already invested in such initiatives, will cover

everything from building and upgrading sports facilities and playgrounds around

the world to "spreading the joy of soccer" across the U.S.

In addition to these business targets, Nike announced yesterday that it will

continue its commitment to supply chain transparency by updating public

disclosure of the more than 700 contract factories worldwide producing Nike

product. In 2005, Nike was the first company in its industry to disclose its factory

base to encourage industry transparency and collaboration.

Corporate social responsibilities

The CSR concept in the US has been defined in terms of a philanthropic model.

Such model illustrates the unhindered generation of profits of the companies and

the donation of a particular percentage of the profit to charitable causes. While the

philanthropic approach to CSR is an important measure to increase the capacity of

its stakeholders, it is not considered as a positive contribution to the society.

The Boston College Center for Corporate Citizenship (BCCC) has conducted a

global survey on CSR. An interesting aspect of the study is directed into learning

the best way for corporations to provide a positive contribution to society. Findings

reflect that the most appropriate form is developing healthier, safer

products/services, actively working to solve a specific social issue. Donating

money to charities ranked the lowest among the perceived ways to impart a

positive contribution. Thus, while the corporation has been providing significant

financial contributions to the University Oregon, such act remains far from being

sustainable and as Nike has efficiently demonstrated, can be easily retracted.

A principle-based approach to CSR should be adapted by Nike, Inc. Unlike its

previous CSR strategies, Nike’s CSR initiatives must be sustainable and should be

viewed as an essential aspect of the process of wealth creation. Abiding by the

principles of CSR will allow Nike to earn the trust of its stakeholders, enabling the

company to maximize the value of investments in the CSR field

Awards and recognition

March 21, 2011

OCF Grant Recipients Announced

Nike announces second round of recipients for OCF Nike Employee Grant Fund

Awards.

January 08, 2007

Fortune Lists Nike in "100 Best Companies To Work For"

November 09, 2006

Nike Named Top 10 for Social Responsibility Reporting

October 18, 2006

Nike Named One of the Country's Best Workplaces for Commuters

The Company is Ranked in the Top 20 of Fortune 500 Companies for the Third-

Consecutive Year For its Alternative Commuting Program.

Competitors

STRENGTHS, WEAKNESSES, OPPORTUNITIES, THREATS

Strengths:

Brand Equity

Nike is able to command higher margins because of strong brand equity. Nike’s

aggressive marketing campaigns show that the best athletes in the world use Nike

products. Along with the highest quality of products, Nike has a unique image and

style that differentiates itself from competitors. Nike’s brand equity certainly wins

the hearts of many consumers, allowing for considerable amounts of recurring

revenues.

Global presence

Nike has diversified its geographic operations and sells in more than 170

countries. By doing so, Nike achieves economies of scale in manufacturing and

distribution, as well as mitigating risk among individual economies.

Diverse line of products

Along with the Nike brand, the Company wholly-owns five subsidiaries each

specializing in unique product markets, which mitigates risk among brands.

Weaknesses:

Currency exposure

As a global company, Nike runs the risk of adverse fluctuations of exchange

rates. The Company uses a hedging strategy designed to eliminate foreign

exchange risks, but also limits upside potential.

Decreasing United States market share

The United States is the largest and most saturated market that Nike operates in.

The Company has been directing efforts on expanding into emerging markets, and

as a result is losing US market share. Since the US is the largest market, a loss in

market share may result in substantial revenue losses to Nike.

Opportunities:

Expansion into emerging markets

Nike understands that emerging markets provide enormous growth

opportunities, provided that the Company has a presence in these markets before

this growth occurs. Nike is adamant in entering emerging markets before they have

“emerged” so it can take

13

full advantage of market growth. Nike has realized double digit revenue

growth in China and other Asian Pacific companies, as well as high revenue

growth in the Americas regions in fiscal 2008 and 2009. These markets are not yet

at the point of maturity, so high growth is expected in the near to mid-term future.

Innovation

The key intangible asset to Nike is innovation. It constantly changes product

mixes, marketing campaigns, and geographic presences based on profitability.

Because Nike strives to be a market innovator in several constantly changing

environments, infinite opportunities exist where Nike can gain market share.

Threats:

Revenue relies on consumers’ discretionary income

As a consumer products company Nike is exposed to consumers’ discretionary

income which is correlated to market cyclicality and interest rates. Decreased

consumer disposable income and sentiment has adversely affected Nike’s

performance during the global economic crisis. Negative macroeconomic events

pose a significant threat to Nike.

Nike's Vision Statement

This section contains the best examples of a vision statement from the most

successful companies in the world. We have provided below the content of the

Nike's Vision Statement which details their vision of the future. An effective and

successful Vision Statement is powerful and compelling, conveying confidence

and inspiring views of the future. The importance of a Vision Statement should not

be underestimated. One good paragraph will describe the values, services and

vision for the future. Whether you are looking to compose a personal Vision

Statement or a company Vision statement our samples and this example of the

Nike's Vision Statement will provide you with some excellent ideas and

inspiration.

Nike Mission Statement

We have provided below details of the content of the Nike Mission Statement, one

of the most successful companies in the World.

Members of nike company:

Directors Designation

Philip H Knight "Phil" Chairman

Mark G Parker President/CEO

Charles D Denson President:Nike Brand

Gary M Destefano President:Global Operations

Jeanne Pellegren Jackson President:Direct To Consumer

Roger S Wyett President:Affiliates

Products:

BALANCE SHEET

Assets [+]in Millions of Dollars

05/2011

05/2010

05/2009

05/2008

05/2007

Cash and Equivalents 1,955 3,079 2,291 2,134 1,857

Restrictable Cash - - - - -

Marketable Securities 2,583 2,067 1,164 642 990

Receivables 3,138 2,650 2,884 2,795 2,495

Inventories 2,715 2,041 2,357 2,438 2,122

Prepaid Expenses 594 873 766 602 393

Current Deferred Income Taxes 312 249 272 227 220

Other Current Assets - - - - -

Total Current Assets 11,297 10,959 9,734 8,839 8,076

Gross Fixed Assets 4,906 4,390 4,256 4,103 3,619

Accumulated Depreciation (2,791) (2,458) (2,298) (2,212) (1,941)

Net Fixed Assets 2,115 1,932 1,958 1,891 1,678

Intangibles 487 467 467 743 410

Cost in Excess 205 188 194 449 131

Non-Current Deferred Income Taxes 894 873 897 520 393

Other Non-Current Assets - - - - -

Total Non-Current Assets 3,701 3,460 3,516 3,603 2,612

Total Assets 14,998 14,419 13,250 12,443 10,688

Liabilities [+] in Millions of Dollars

05/2011

05/2010

05/2009

05/2008

05/2007

Accounts Payable 1,469 1,255 1,032 1,288 1,040

Short Term Debt 200 7 32 6 30

Notes Payable 187 139 343 178 101

Accrued Expenses - - - - -

Accrued Liabilities 1,985 1,904 1,784 1,762 1,303

Deferred Revenues - - - - -

Current Deferred Income Taxes - - - - -

Other Current Liabilities 117 59 86 88 109

Total Current Liabilities 3,958 3,364 3,277 3,322 2,584

Long Term Debt 276 446 437 441 410

Deferred Income Tax 921 855 842 854 669

Other Non-Current Liabilities - - - - -

Minority Interest - - - - -

Capital Lease Obligations - - - - -

Preferred Securities of Subsidiary Trust

- - - - -

Preferred Equity Outside Shareholders' Equity

- - 0 0 0

Total Non-Current Liabilities 1,197 1,301 1,280 1,296 1,079

Total Liabilities 5,155 4,665 4,556 4,617 3,663

Preferred Shareholder's Equity - - - - -

Common Shareholder's Equity 9,843 9,754 8,693 7,825 7,025

Total Equity 9,843 9,754 8,693 7,825 7,025

Total Liabilities & Shareholder's Equity

14,998 14,419 13,250 12,443 10,688

INCOME STATEMENT

Income [+]in Millions of Dollars

05/201105/201

005/2009

05/2008

05/2007

Operating Revenue 20,862 19,014 19,176 18,627 16,326

Adjustments to Revenue - - - - -

Cost of Revenue(10,996

)(9,818)

(10,188)

(9,918) (8,895)

Gross Operating Profit 9,866 9,196 8,988 8,709 7,431

Selling/General/Admin Expense (6,693) (6,326) (6,150) (5,954) (5,029)

Research & Development - - - - -

EBITDA (Operating Income Before Depreciation)

3,173 2,870 2,838 2,755 2,402

Depreciation & Amortization (358) (396) (383) (322) (270)

Operating Income 2,815 2,474 2,455 2,434 2,132

Interest Income - - 10 152 67

Other Income, Net 33 49 88 (8) 1

Total Income Before Interest Expense (EBIT)

2,848 2,523 1,956 2,578 2,200

Interest Expense (4) (6) - (75) -

Income Before Tax 2,844 2,517 1,956 2,503 2,200

Income Taxes (711) (610) (470) (620) (708)

Minority Interest - - - - -

Net Income from Continuing Operations

2,133 1,907 1,487 1,883 1,492

Net Income from Discontinued Operations

- - - - -

Net Income from Total Operations 2,133 1,907 1,487 1,883 1,492

Normalized Income 2,133 1,907 2,083 1,883 1,492

Extraordinary Income/Loss - - - - -

Special Income/Charges - - (596) - -

Income from Cum. Effect of Acct Change

- - - - -

Income from Tax Loss Carryforward - - - - -

Other Gains - - - - -

Total Net Income 2,133 1,907 1,487 1,883 1,492

Results [+] in Dollars (Preferred Dividends in Millions)

05/201105/201

005/2009

05/2008

05/2007

Dividends Paid Per Share 1.16 1.04 0.96 0.83 0.68

Preferred Dividends - - - - -

Basic EPS from Continuing Operations

4.48 3.93 3.07 3.80 2.96

Basic EPS from Discontinued Operations

0.00 0.00 0.00 0.00 0.00

Basic EPS from Total Operations 4.48 3.93 3.07 3.80 2.96

Diluted EPS from Continuing Operations

4.39 3.86 3.03 3.74 2.93

Diluted EPS from Discontinued Operations

0.00 0.00 0.00 0.00 0.00

Diluted EPS from Total Operations

4.39 3.86 3.03 3.74 2.93

CASHFLOW SATATEMENT

Cash Flow

in Millions of Dollars 05/2011 05/2010 05/2009 05/2008 05/2007

Net Income 2,133 1,907 1,487 1,883 1,492

Depreciation 335 324 335 304 270

Amortization 23 72 48 18 0

Amortization of Intagibles - - - - -

Deferred Income Taxes (76) 8 (294) (301) 34

Operating Gains/Losses - - - (61) -

Extraordinary Gains/Losses - - - - -

Decrease in Receivables (273) 182 (238) (118) (40)

Decrease in Inventories (551) 285 32 (250) (50)

Decrease in Prepaid Expenses (35) (70) 14 (11) (61)

Decrease in Other Current Assets - - - - -

Increase in Payables 151 297 (220) 331 85

Increase in Other Current Liabilities - - - - -

Decrease in Other Working Capital - - - - -

Other Non-Cash Items 105 159 572 141 148

Net Cash from Continuing Operations

1,812 3,164 1,736 1,936 1,879

Net Cash from Discontinued Operations

- - - - -

Cash from Operating Activities 1,812 3,164 1,736 1,936 1,879

Sale of Property, Plant, Equipment 1 10 32 2 28

Sale of Long Term Investments - 5 - - -

Sale of Short Term Investments 7,079 2,787 2,390 2,246 2,516

Purchase of Property, Plant, Equipment

(432) (335) (456) (449) (314)

Acquisitions - - - (325) -

Purchase of Long Term Investments (23) - - - -

Purchase of Short Term Investments (7,616) (3,724) (2,909) (1,866) (2,134)

Other Investment Changes, Net (30) (11) 144 (22) (4)

Cash from Investing Activities (1,021) (1,268) (798) (414) 93

Cash from Discontinued Investing Activities

- - - - -

Issuance of Debt - - - 64 94

Issuance of Capital Stock 345 364 187 343 323

Repayment of Debt 33 (237) 170 (35) (256)

Repurchase of Capital Stock (1,859) (741) (649) (1,248) (985)

Payment of Cash Dividends (555) (505) (467) (413) (344)

Other Financing Charges, Net 64 58 25 63 56

Cash from Financing Activities (1,972) (1,061) (734) (1,226) (1,112)

Cash from Discontinued Financing Activities

- - - - -

Effect of Exchange Rate Changes 57 (47) (47) (19) 42

Net Change in Cash (1,124) 788 157 277 902

Cash at Beginning of Year 3,079 2,291 2,134 1,857 954

Cash at End of Period 1,955 3,079 2,291 2,134 1,857

Foreign Sales 13,284 - - 12,249 10,219

Domestic Sales 7,578 - - 6,378 6,107