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• Gross profit ratio: Gross profit ratio of the firm is very high. In the year 2017 Cochlear gross profit ratio was 71% and same increased to 74% in the year 2018 and further it elevate to 75%. It can be said that firm is maintaining good control on its cost of goods sold. Control may due to cost control on the supply chain. Year over year firm profitability is increasing consistently which reflect that firm on this front really perform well.
• Return on ordinary equity: Return on equity decline from 41% to 38%. Decline of minor percentage is seen and due to this reason it can be said that firm performance is almost similar. Rate of change in equity is higher than the rate of change that is seen in profit after tax and due to this reason decline is seen in return on ordinary equity. Overall, it can be said that there is stability in performance because the profit amount is elevating consistently. Strong monitoring and control on direct and indirect expenses in the business are the main reason behind stability in performance on this front.
• Current ratio: Current ratio reflects the liquidity position of the firm (Oshoke. and Sumaina, 2015). Fluctuation is seen in current ratio value across the years. In the year 2017 current ratio value was 1.69 and in the year 2018 current ratio value was 2.03 which further reduced to 1.77 in the year 2019. In 2017 and 2019 current ratio value remain below standard 2:1 but remain above 1 which reflects that after paying CL using the CA few value of CA or working capital will remain in the business. Condition on this front still is good not very good and due to this reason firm need to adopt appropriate cash management strategy in its business.
• Inventory turnover ratio: Inventory turnover ratio reflects the number of times inventory replaced or company is sold during a specific time period (Lim. and Noh, 2015). Inventory turnover ratio of the firm in the year 2017 was 2.24 and in the year 2018 ratio value were 2.20. On the other hand, in the year 2019 ratio value was 1.93. It can be said that performance decline slightly but it is almost stable. To some extent firm efficiency to convert sales decline, but there is not a matter of concern. However, firm need to prepare active sales and marketing strategy in its business so as to elevate sales in its business.
• Equity ratio: Equity ratio value is very important to the business firms. This is because equity ratio value reflect the amount of leverage used by the company (Doorasamy, 2016). The higher is the value of the ratio better is assumed for the company because it indicates that the company effectively funded its assets using equity and less dependent on debt to finance business. Equity ratio value in the year 2017 was 0.48 and in the year 2018 and 2019 value was 0.53. Firm performance improved but it is not sufficient. It is more dependent on debt to finance its business. On this front, firm need to improve its performance.
• Asset turnover ratio: Asset turnover ratio reflects the efficiency of the firm to generate sales using assets in the business. Asset turnover ratio value in the year 2017 was 1.10 but in the year 2018 ratio value was 1.19. In the year 2019 ratio value was 1.13. Here also performance is almost similar. Asset turnover ratio value is very low for the firm and this indicate that firm needs to improve assets use. It needs to prepare strategy in the business by using which effective utilization of assets can be done in the business. Assets effective utilization will assist firms to earn more profit in the business. This is the common weak point of most of the business firms as it can be observed that the majority of companies have a low asset turnover ratio in their business. On this point, firm need to do lot of work.

The firm is planning to do online sales of its product and under this first of all target will be determined in terms of earning of revenue and profit in the business from online marketing of a product or by sales of product online. Target maybe like to earn revenue equal to 10% of previous year’s sales etc through online platform. As part of customer, perspective firm may advertise its product USP through advertisement on Facebook and Intagram and other relevant platforms. Initially, varied audiences will be targeted and later by doing research in a few months target audience will be identified that fits best to the company. This will assist the firm to generate better results. In this regard, in customers’ perspective target for CR or conversion rate will be determined for stages of the funnel. By using this most fitted audience will be identified (Senarath and Patabendige, 2015). Moreover, varied ads will be tested on the selected audience and by doing so it will be determined that which sort of advertisements set best for the firm on Facebook and other platforms. As part of the internal process and by following strategy maps firm will develop quality partnerships and from reputed agencies will hire employees that have good experience of digital marketing. The firm will make use of Tableau to analyze results and improve online marketing strategy as part of the organizational capacity component of the balanced scorecard. Tableau is basically business intelligence technology equipped software and by using it changes that are happening every hour and minute in social media campaign can be identified. If required immediately intervention can be done to improve campaign performance. Use of this software will assist in get better results on social media campaigns.

Books and Journals
Doorasamy, M. 2016. Using DuPont analysis to assess the financial performance of the top 3 JSE listed companies in the food industry. Investment management and financial innovations, (13, Iss. 2). 29-44.
Fooladvand, M., Yarmohammadian, M. H.. and Shahtalebi, S. 2015. The application strategic planning and balance scorecard modelling in enhance of higher education. Procedia-Social and Behavioral Sciences. 186. 950-954.
Lim, J. Y.. and Noh, W. 2015. Key components of financial‐analysis education for clinical nurses. Nursing & health sciences. 17(3). 293-298.
Oshoke, A. S.. and Sumaina, J. 2015. Performance evaluation through ratio analysis. Journal of Accounting and Financial Management. 1. 1-10.
Senarath, S. A. C. L.. and Patabendige, S. S. J. 2015. Balance scorecard: Translating corporate plan into action. A case study on university of kelaniya, Sri Lanka. Procedia-Social and Behavioral Sciences. 172. 278-285.
Tan, Y., Zhang, Y.. and Khodaverdi, R. 2017. Service performance evaluation using data envelopment analysis and balance scorecard approach: an application to automotive industry. Annals of Operations Research. 248(1-2). 449-470.
2019 ESG report., 2019. [Online]. Available through:< https://www.listcorp.com/asx/coh/cochlear/news/2019-esg-report-2224775.html>