Разговорный бизнес курс. Митрофанова И.В. - 39 стр.

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suggests that if they had their own fleet, or at least two lorries to start with, they could
control some of the problems better. They could have their own fuel pump, which
would mean a reduction on bulk purchase of petrol. They would probably buy
vehicles with diesel rather than petrol (gasoline) motors. The initial cost of a diesel
vehicle is a lot higher than for one with a petrol engine, maintenance costs are usually
higher too; but the operational costs are lower. Peter sees the advantages, but reminds
Bruce that the new regulations about the road-worthiness of goods vehicles are very
strict. Police inspectors have the power to order spot checks, and they can order any
vehicle with a defect off the road.
Surprisingly it is Hector Grant himself who proposes that the company should have
their own transport. He asks Peter to prepare a D.C.F., Discounted Cash Flow (see
Unit I). Discounted cash flow is a technique for assessing the profitability of a new
investment. An investment is normally made on certain obvious assumptions, such as
probable sales or operating costs. In addition, when buying two lorries, for instance,
other factors should be considered, such as; (I) there will be an investment Grant,
perhaps thirty per cent of cost, which is a government incentive for firms (who pay
tax to the government on profits) to re-equip; (2) there will be a second-hand value on
the lorries, when at the end of, say five years they are traded in and replaced by new
ones; (3) during their lifetime the lorries will represent money which, if left in the
bank. would have earned interest.
The D.C.F. technique takes all such points into consideration and discounts the
annual forecast income on the investment by a sum to repay net capital, pay interest
and cover all operating costs (wages, fuel and maintenance) .
The net discounted income related to the net investment over the life of the
investment indicates the degree of profitability or worth-whileness of the project.
Neither the D.C.F. nor any other technique can say whether the assumptions on
which the investment is proposed are going to be right. Running a business means
taking risks. It can, however, say what the consequences will be if the assumptions
are right.
But before Hector Grant makes a suggestion for a D.C.F. the driver of Andersons'
lorry,
Ernie, on his way to Scotland, is asked, for a lift by a man he meets in a transport
cafe, with rather unexpected results.
(In Peter Wiles's office.)
BRUCE HILL: Peter? Can I trouble you?
PETER WILES: Is it urgent, Bruce? I'm up to my eyes in work this morning.
Youknow H.G. likes you to cope with transport entirely. You're only nominally under
me.
HILL: Yes, I know. But this is a policy matter. I think it's high time we had our own

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