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Essay text:
In the time of the greatest financial crisis in the modern history, companies are competing harder for neither survival nor profit, and these present a major challenge for businesses, understandingly Telefonica as well, to control efficiency and performance.
In terms of operating activities, Telefonica’s revenue for 2007 was increased by nearly 10% from the previous year. In addition to that, the operating profits rise in a considerably high rate of nearly 27%. Additional free cash had been generated in this account. Other working capital had slightly declined, meaning that they have either decreased their current assets or increased their current liabilities (or a combination of both)...
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