Explore a Celestial Triangle

Information Technology Is A Key Part For Any Business Essay

Introduction Information Technology is a crucial part for any business. It plays a critical role in realizing goals and objectives of an entity. For UMUC haircuts the IT will help in being more competitive in the market. Customer satisfaction will be high since they will get the best service that adds value to the final product. Once implemented IT will help the business will also enjoy high levels of customer attraction and awareness which enables management to reach the target market (Murimi, 2015). That is a move which can raise the branding levels of the business and acts as a barrier to new entrants. Increased profitability makes the business to attain high levels of financial stability and can acquire other players in the industry or invest in a successful products or projects in the market. Proposed IT solution UMUC Haircuts needs to conduct an in-depth analysis of the market as well as internal factors so as to come up with an IT method which will minimize the costs and maximize the benefits. In this case the management should consider the Software As A service (SAAS) model. In this case the licensing is done on subscription basis and hosted at a central position. It will improve the services such as messaging, management information system, enterprise resource planning, managerial decision making, human resource management as well as service desk management (Murimi, 2015). That is mainly because it can be accessed by use of a thin client through web browsers. InShow MoreRelatedComparison Between Different Enterprise Architecture Frameworks1667 Words   |  7 Pagesaddressing the basic challenge of assessing, aligning, and organizing business objectives with technical requirements and strategies. Examples include the Zachman Enterprise Framework, The Open Group Architecture Framework (TOG AF), OMB Federal Enterprise Architecture (FEA), and The Gartner Methodology (formerly the Meta Framework). Each framework possesses different strengths and weaknesses, which makes it difficult to find any one existing framework that is ideal for all situations. The followingRead MoreImproving A Cutting Edge Technology Position1214 Words   |  5 Pagesstrategy focused on maintain a cutting edge technology position is the most effective way to support any kind of overall business strategy. Not only will this article address this issue, but it will also display that a cutting edge is needed to gain and maintain a prominent position in any prospective market. It should be noted that when this article speaks of â€Å"cutting edge† of technology this is actually speaking of alignment of the organization’s business and IT strategy. With this being said whyRead MoreTechnology Information : Technology And Information Changes892 Words   |  4 PagesTechnology Information: Technology and information changes are required. Cutting-edge chemical technology can make Woodson Chem ical Company into a low-cost producer; the company must develop a plan to integrate each division’s responsibilities for consumers’ orders and information status. The important issues to consider when acquiring and implementing new technology are programmatic, technical, cost, schedule and sometimes supportability. One of the largest risk noticed when reviewing thisRead MoreHow Does Enterprise Software Enable a Business to Use Industry-Proven Best Practices?699 Words   |  3 PagesHow does enterprise software enable a business to use industry-proven best practices? Enterprise Software collects data from different divisions of a company to use it in the company’s internal business activities. By inserting information in one process, this information is made obtainable to other business processes. This software is based on common database, but it provides the same old or updated information in different function that makes this application so valuable to companies. People inRead MoreThe Role Of Internal Audit Departments On The Business Community On How Their Work Adds Value1201 Words   |  5 PagesT auditors frequently find themselves educating the business community on how their work adds value to an organization. Internal audit departments commonly have an IT audit component which is deployed with a clear perspective on its role in an organization. However, in our experience as IT auditors, the wider business community needs to understand the IT audit function in order to realize the maximum benefit. In this context, we are publishing this brief overview of the specific benefits and addedRead MoreInternal Controls Of Sales And Cash Business1335 Words   |  6 Pagesmitigating risk in business processes through the design of internal controls. The business processes covered were sales, sales returns, and cash collection processes, as well as purchases, payroll, and fixed assets. Also covered was risk prevention with internal controls based on the authorization of transactions, segregation of duties, adequate records and documentation, security of assets, and independent checks and reconciliation. We learned that control activities for information technology are basedRead MoreEthical Issues Involving Information Accounting1193 Words   |  5 PagesIntroduction Ethical issues involving information accounting is a part of doing business and a large part of personal human ethics. Accounting ethics refer to codes or moral systems used to determine right and wrong in accounting. Accountants have a challenge with the arrival of information technology to observe business ethics in the field of accounting. Technology needs to be appreciated and used by accountants in the most important ways to improve efficiency, regulatory compliance, enhanceRead More Management Information System Essay805 Words   |  4 Pages It deals with planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management. In the above definition you can find the three key resources-information, information technology, and people. You will also find various functions that you as a knowledge worker must undertake to ensure that your origination maximizes its advantages. It doesnt matter if you are preparing to work in the area of financeRead MoreUps Case Study1025 Words   |  5 PagesChapter 1 Information Systems in Global Business Today Case 1: UPS Global Operations with the DIAD IV Tags: UPS global operations; handheld computers; wireless mobile platform; digital firm; integration of business; customer value generation. Summary How IT drives the UPS operation worldwide. Using smart people and smart technology, UPS delivers over 14 million packages daily to 200 countries and territories, requiring the talents of 70,000 drivers who are wirelessly connected to UPS mainRead MoreManagement Information System : An Organization1256 Words   |  6 PagesManagement information system refers to the science and art of collecting, storing, gathering, disseminating and analyzing information that help in decision making when dealing with management of an organization. The emphasis of management information is to improve the operation and production of a given company through the help of information technology. Currently, there is more emphasis on computer networks, database systems, human-computer interaction, security of information, intelligent systems

The Contribution of Multinational Pharmaceutical Companies in the Development of Pakistan Economy free essay sample

PRESENTATION ANALYSIS AND INTERPRETATION OF DATA Major Therapeutic Categories Antibiotics, vitamins and analgesics are the top three therapeutic classes in terms of sales by value. Anti-biotic dominate the market with approximately 24% of the market value. Vitamins and analgesics account for 6. 6% and 6% of the market respectively. The vitamins and antibiotics sectors are vital not only because of their large size but also because of their astronomical growth. Sales of antibiotics are growing at 30% per year, while the growth rate in the vitamins segment is 20%. The importance of vitamins in the domestic market is compounded by the fact that being nonessential drugs, their prices are now deregulated. This price deregulation, which occurred in 1993 has enhanced the competition within this therapeutic strata of the market and has placed companies like Abbot, Cyanamid, Pfizer, Sandoz, Squibb and Roche in a privileged position. Well-positioned competitors in the antibiotic arena include Smith Kline, Wyeth Squibb, Sandoz, Pfizer and Wellcome. Seprtan, Amoxil and Ampiclox are three largest selling products in Pakistan. Wellcome produces Septran, whereas the other two are Beecham’s products. The sales of each of these three products are approximately $6 million to $9 million, larger than the total sales of many medium sized companies in the pharmaceutical industry in Pakistan. The following table shows the value sales of the top 10 products: Table 2: THE VALUE SALES OF THE TOP 10 PRODUCTS | | | |PRODUCT |ESTIMATED SALES 1993 (RS. MN) | |Septran (Wellcome) 272 290 | |Amoxil (Beecham) |250 270 | |Ampiclox (Beecham) |160 170 | |Velosef (Squibb) |155 165 | |Neurobion (Merck) |155 165 | |Brufen (Boots) |155 165 | |Tarivid (Hoechst) |140 145 | |Erythrocin (Abbot) |130 140 | |Augmenting (Beecham) |110 | |Postan (P. Davis) |110 | Demand The market size of the pharmaceutical industry is estimated to be around $550 million. The total installed capacity in the private sector is estimated to be 12 billion tablets, 1. 2 million capsules, 312 million ampoules, 173 million vials, 32000 tons of liquid preparations and 2000 tons of semi solid (ointments) preparations. In rupee terms the total pharmaceutical market in 1992-93 worked out to be Rs 20 million. The annual average growth was estimated to be 16. 1%. This growth has been achieved despite the strict price controls. However due to the recent devaluation of the Pak rupee against US dollar, the pharmaceutical industry may find it difficult to maintain their growth rate. Since approximately 95% of the raw material requirements of the industry are met through imports, the recent devaluation will increase the cost of production and may thus have a contractionary impact on the supply of essential drugs. Moreover, the overall effect might be more acute due to the fact that the government heavily regulates the retail prices of medicines. The following table shows the historical and current consumption of drugs and medicines during 1981 to 1993: Table 3: DEMAND FOR DRUGS YEAR |PRODUCTION (MN) |IMPORTS |EXPORTS | | | |(MN) |(MN) | |1987-88 |104 |10 135 |95 | |1988-89 |107 |11042 |103 | |1989-90 |110 |12052 |110 | |1990-91 |114 |14753 |129 | |1991-92 |117 |16803 |144 | |1992-93 |121 |19246 |159 | expansion in demand can be fuelled by discovering and exploiting new export markets. Reasons for excessive market growth 1. An excessive inflow of rural population to the cities is responsible for the increased demand for pharmaceuticals. The present rate of urbanization in the country is 5% per annum. 2. Pakistan’s population is increasing at a rate of 3% per annum and during the last five years per capita income has registered an average annual growth rate of 3% at constant factor costs and about 17% at current factor costs. Hence the expenditure on drugs and medicines have gone up accordingly. 3. The money remitted from abroad has also led to a rise in the expenditure on drugs and medicines. Home remittances increased to the extent of $3000 million per annum. However, in 1992-93 remittances had been reduced to $1562 million. 4. The unethical practice of retailers to sell drugs without prescription is another factor responsible for the growth in the medicine market. Moreover, the sales of spurious drugs at low prices are also adding to drug sales. IMPORTS AND EXPORTS IMPORTS: In the 1950s over 75% of the country’s requirement of medicines was fulfilled by imported medicines in finished form. This has now been reduced to approximately 20%. Presently though, almost 95% of pharmaceutical raw material and almost one third of the formulated drugs are imported. By value, approximately 40% of pharmaceutical sales are imported. There is an import duty of 60% on raw materials. Imports of medical and pharmaceutical products increased from Rs 936 million in 1980-81 to 5980. million in 1992-93, showing an average annual increase of 17. 2%. Import and export of medical and pharmaceutical products for twelve years are given below: Table 8: IMPORT AND EXPORT OF MEDICAL PHARMACEUTICAL PRODUCTS |YEAR |I MPORT |EXPORT |PERCENTAGE | | | | |INCREASE | |c1980-81 |936. 1 |44. 8 |- | |1981-82 |1222. 4 |18. 3 |30. | |1982-83 |1390. 3 |27. 7 |13. 7 | |1983-84 |1799. 8 |43. 2 |29. 4 | |1984-85 |1973. 9 |51. 8 |15. 2 | |1985-86 |2252. 4 |44. 3 |13. 8 | |1986-87 |2638. 2 |47. 8 |17. | |1987-88 |2852. 0 |73. 4 |8. 1 | |1988-89 |3318. 3 |110. 4 |16. 3 | |1989-90 |3723. 4 |382. 0 |12. 2 | |1990-91 |4407. 5 |260. 3 |18. 3 | |1991-92 |5183. 8 |470. 3 |17. | |1992-93 |5980. 1 |514. 5 |15. 3 | Among the different therapeutic classes of medicines imported in the country, antibiotic imports registered a tremendous growth. Import of analgesics is quite insignificant and there has been no import of cough syrups since 1979-80 because domestic production has increased to quite an appreciable extent during the past few years. Antacids are at present not imported in the country. Table 9: PERCENTAGE SHARE IN TOTAL IMPORTS OF DEFFERENT MEDICINES |Medicines |(Rs. Millions) |(% Share in Total) | |Pro vitamins Vitamins |965 |19 | |Antibiotics |957 |19 | |Medicaments NS |2650 |51 | |Medicine containing antibiotic Derives |70 |2 | |Hormones and Derives |123 |9 | |Other |421 |- | |Total |5184 |100 | The cheap unrecorded sources of imports are from Singapore, HongKong, South Korea etc. The recognized sources are the United Kingdom, United States, China, Switzerland, France and Irish Republic. Major suppliers of pharmaceutical are United Kingdom and Germany. They are mainly supplying medications and their market share is around 62. 4%. Suppliers of paracetamol are American companies. Total imports of paracetamol from USA in 1991-92 stood at Rs. 289 million In terms of money Germany supplied Rs. 1448 worth of medicines while UK’s share was Rs. 915 million worth of medicines. Other important sources are Yugoslavia and China, which supply medicines at very low cost. EXPORTS: Exports of pharmaceutical are picking up at a very rapid rate. In 1988-89 exports stood at Rs. 110. 4 million that increased to Rs. 514. 5 million in 1992-93 showing a cumulative rise of 336% in four years. In the last five years average annual increase of exports was 67%. Thirty percent of the total exports went to SriLanka, Djibouti and Nigeria. Other important buyers of Pakistani pharmaceutical were Argentina (6. 7%), U. A. E (5. 86%), Belgium (4. 09%), Bangladesh (3. 80%) and USA (3. 52%). Pakistan can substantially increase the exports of pharmaceutical industry is being threatened in several countries. According to reports in financial Times, UK is becoming an increasing unattractive country for drug manufacturing units. Investments in the UK pharmaceutical industry could be threatened by increasing government controls on prices and demand for drugs. Moreover, increasing animal rights protection is also a cause of major concern for the industry. For regulatory reasons medicines have to be tested for toxicity on two species, only one of which can be a rodent. Some drugs are poorly tolerated by dogs and so have to be tested on primates. Most cardiovascular research is based on dogs, because their internal system is similar to that of human beings. It may be mentioned that six of the world’s top selling drugs was discovered in United Kingdom. At present, Britain has won the highest number of Nobel prizes in the world. However, due to the increase in the protection of animal rights in the recent years, Britain is becoming an unattractive site for future pharmaceutical research. Moreover, cost cutting reforms introduced by the German health care system have focused on heavy controls over drug prescribing. As a result, more than 20% was saved on medicines between January and June 1993, with a significant switch to cheaper off-patent, generic medicines. TAX STRUCTURE In a recent package of incentives offered by the government. The industry will be exempt from duty and sales tax on the import of raw materials for the manufacture of pharmaceuticals. The import duty on the import of plant and equipment will also be cut down to only 10%. The raw materials that are used in other industries are also subject to duties, which range from 15 to 65%. However this duty can be reclaimed within 15 months of the production of manufactured drugs. The income tax payable is 37% for public limited companies and 47% for private limited companies. In addition to this the companies also have to pay other taxes such as: Worker profit participation fund 5% on PAT Worker welfare fund2% on PAT EBOI RsRs. 150 per head per month EducationRs. 100 per head per month The companies also have to pay octroi, Property tax, vehicle tax, professional tax and research levy etc. COMPETITIVE STRUCTURE The major proportions of the pharmaceutical industry are composed of 20 well-entrenched competitors, with no player controlling more than 6% of the market. Absence of monopolistic distortions and intense rivalry result in competitive products and superior quality of long term earnings. The major competitors in the pharmaceutical industry can be generally classified under the following headings: Multinational pharmaceutical companies National pharmaceutical companies (under public sector control) Local pharmaceutical companies Importers The multinational companies are responsible 70% of the total manufactured products. Imports contribute around 10% and national and local companies manufacture 20%. The multinational and local companies are diagrammatically opposed not only in their marketing strategies, but also in their sourcing methods and in their dependent on their parent companies. These major multinational companies produce their basic raw materials from parent companies, which also help them with formulation and research and development efforts. As far as marketing is concerned, these giants depend on internationally branded product, which are supported by high budget advertising. On the other hand the local companies basically rely on licensing for their core business. As they are unable to match the advertising budget and expertise of their multinational competitors, these local companies have positioned themselves as â€Å"pushers† of their products by offering higher trade margins. In general MNCs offer their retailers 15% margins whereas the margins that are offered by the local competitors are approximately 20%. Specifically as far as the foreign competition is concerned, almost all of the world’s largest European and US pharmaceutical companies are present in Pakistan, with most of their product range. Thus the world’s most prominent and prestigious brands compete with each other a very small market share in terms of value. The top 20 firms in Pakistan are all affiliates or subsidiaries of multinational companies. Together they capture over 60% of the Market. The top 5 companies include Wellcome, Abbott, Glaxo, SmithKline Beecham and Hoechst. Together they account for nearly 23% of the total market. Following are the tables gives the specific details of the top 10 companies that are operating in Pakistan. (The top 10 companies have been selected on the basis of their rupee sales). Table 10: TABLE SHOWING SALES, MARKET, GROWTH OF THE TOP 10 COMPANIES | |COMPANY |SALES |MARKET |GROWTH | | | |(Rs.. MN) |SHARE (%) |RATE | |1 |ABBOT |913 |5. 51 |26. 8 | |2 |WELLCOME |833 |5. 02 |20. 2 | |3 |GLAXO |757 |4. 57 |10. 0 | |4 |BECHAM |708 |4. 25 |20. 3 | |5 |SANDOZ |603 |3. 4 |16. 5 | |6 |HOECHST |597 |3. 6 |24. 4 | |7 |PFIZER |508 |3. 06 |26. 3 | |8 |MERCK AG |484 |2. 92 |15. 3 | |9 |ROCHE |452 |2. 73 |26. 6 | |10 |SQUIBB |438 |2. 4 |18. 9 | | |TOTAL |6,293 |37. 94 | | ECONOMIC SIGNIFICANCE The industry is generally profitable and has a pretax profit for MNCs ranging between 12% and 18%. Raw material costs constitute about 60% of all costs. For most MNCs, a significance part of costs are in imported raw material (up to 50% of sales). The stock market recognizes the potential of the pharmaceutical sector and has accordingly, priced it at a sector Price-Earnings ratio of 32. 5 compared to the Pakistani Stock Market P/E of 21. In order to get a better picture of the economic significance, we have complied the financial and strategic aspect of some of the important companies of the industry, which are: ABBOTT LABORATORIES (PAKISTAN) LIMITED Abbott Laboratories (Pakistan) Limited is one of the largest pharmaceutical companies in Pakistan with sales revenues of over Rs. 1. 0 billion. In 1993, it commanded a market share of approximately 5. 5% and maintained the position in 1994. The company was established in 1948 and converted to a public limited company in 1992 with Abbott USA retaining 70% equity. It has factories in Karachi, Multan Rawalpindi while head office in Karachi. The company is also engaged in the manufacture of general health care products that are well known brands like Mospel (mosquito repellant), Selsun Shampoo and Fiberand-Digestive. Abbott is the second largest pharmaceutical company in terms of products offered (61). It has a strong presence in the vitamins and antibiotics market, Erythrocin of Abbott is currently ranked as one of the top ten selling national brands in Pakistan, accounting for about 16% of the companies sales. With the Pak Consulting Engineering (Pvt) Limited of deregulation expected together speed, there will be positive effect of the sales of the company as the antibiotics market holds 20. 6% share in the total market for pharmaceutical products. The company has a tradition for launching new products and new products are expected especially in the general health care sector that is in the slow price regulation category. The one negative side is that the company has not made provisions for a contingent tax liability of Rs. 76 million, while actually not expected to be fully levied the possibility cannot be discounted. As a result the share price of Abbott is below its peer group despite otherwise strong fundamentals. The company’s average compounded growth rate turnover is 20. 5%. It has more than doubled in the last five years, which has made Abbott the market leader in the last three years. Abbott has no long-term debt and it has strong relationship with the major local and foreign banks. Interest cover is currently estimated at 16X as the company is able to negotiate very low short term borrowing rates (11. 7-13. 2%) from banks, due to its strong credit rating in the local market. Gross profit margin has increased from 19. 2% in 1989 to 29. 6% in 1993 indicating better pricing policy and impact of price deregulation in the non-essential drugs segment. In 1993, profit after taxes increased by 111. 8%. The underlying factors were increased volume, a better product mix and government relaxation of price controls. The company’s dividend policy has become very liberal dividends have increased from nil to 1989 to 35% in 1993. KNOLL PHARMACEUTICAL LIMITED Incorporated in 1948 in Pakistan, Knoll pharmaceutical limited is engaged in the production and marketing of ethical drugs and health care products. The company is a subsidiary of Boots company PLC, UK that holds 56% equity. Four investment companies hold another 22% shares, while the remaining shareholding is shared between foreign investors, individuals and financial institutions. The company is a major player in the anti-rheumatics segment with Brufen and in the throat lozenges segment with Strepsils. Knoll has a strong hold over the anti-rheumatics segment with brufen as the market leader having a share of more than 20%. Brufen accounts for over 40% of Boot’s total sales. Boots is well placed in the throat lozenges segment with Strepsils as a major seller. The company is streamlining its operations as evidenced from dis-investment in fixed assets especially the recent divestiture of its food division (sold to Heinz). This points towards a much more focused and dedicated strategy. The company is expected to net about Rs. 160 million from the dale of the food division which it intends to combine with its huge cash reserves to become one of the top players in the pharmaceutical market. Our researched has revealed that Boots is looking for acquisitions in the pharmaceutical and health care sector. Preliminary discussions with a couple of companies are reportedly underway. CIBA-GEIGY (PAKISTAN) LIMITED Ciba-Giegy enters in Pakistan 1951 as one of the earliest in to the pharmaceutical industry. Ciba-Giegy of Switzerland hold 60% equity stake with the balance of large stocks being held by long term institutional investors. Ciba-Geigy manufactures and markets drugs and medicines. It is ranked as the 15th largest company in pharmaceutical in Pakistan, based on the sales of its pharmaceutical products only. 20% of the company’s revenue comes from pharmaceutical products, whereas remaining 80% is derived from agriculture and other products. In 1988 the commercial trading division was closed down due to poor performance. Ciba-Giegy has been struggling in the face of sales an eroding margin due to stiff competition in the agro-chemical/pesticide segment that accounts for 75-80% of its business. Despite a world class percent, Ciba-Giegy has not been able to recover from the shock of 1992 when its profit s were reduced to mere 38% of the previous year’s figure. The company showed a pre-tax loss of Rs. 1. 0 Million in 1993 after being hit by crash in gross margins due to intense competition by unbranded pesticides and rapidly rising financial charges. Ciba-Giegy has however taken steps to stem its slide and is in the process of a major reorganization both at management’s levels as well as marketing. An expected injection of equity should also allow it to improve its leverage and reduce the menace of high financial charges. With EPS growth emerging from negative in 1994 and EPS expected to reach Rs. 3 in 1995 the market appears to have put the past behind in terms of valuation. However we feel that for now Ciba is HOLD candidate. After a pre-tax loss of Rs. 1. 0 million in 1993, Ciba-Giegy is taking the necessary steps to put it on of course of slow but steady recovery. The massive jump in inventories due to inability to sell in the face of stiff competition from unbranded pesticides led to very high cost inventory financing in 1992 and 1993. With better sales in 1994 this is expected to be reduced. The margins, both gross and net, have continued to remain under tremendous pressure due to the above factors, but are expected to improve over the next two years. The current ratio has dropped from 0. 99 to 0. 93 in 1993 while interest cover remains precarious at around IX. CYANAMID (PAKISTAN) LTD Incorporated in 1949, Cyanamid (Pakistan) LTD, is engaged in the sales and manufacture of pharmaceutical with major emphasis on antibiotics, anti-tuberculosis and nutritional drugs. The company is a subsidiary of American Cyanamid Company, USA, which has a 75% stake in the local market. It was converted into a public limited company in 1982. The company’s major products include Myambutol Myrin (anti-tuberculosis), ledermycin (anti-biotic), lederplex incremin (vitamins). Cyanamid is the undisputed leader in the tuberculosis segment of the pharmaceutical industry in Pakistan. With tuberculosis still a menace in this part of world, Cyanamid’s strong positioning hopes well for continued further growth. Additionally, a fairly large proportion of its sales are accounted for by nutritional which underwent complete price deregulation late last year. This will feed through in 1994 accounts leading to massive jump in profitability. Cyanamid recently acquired the agri-business of Shell Pakistan in line with its strategy to diversify into related new fields. The timing is fortuitous as the agriculture sector (mainly cotton) is just coming out of a deep recession of last three-year and is bound to grow very rapidly in the coming two-three years. With growth of 23% in 1993 expected to be repeated in 1994 and gross profit margins remaining over 25% Cyanamid should turn in increased profits in next two years. Financial results of 1993 showed a turnaround after dismissal performance in 1992 mainly due to increase in sales and retail price deregulation by the government. The highlight of the year was the increase in the after tax earnings which grew by 533% (Rs. 19 million as against Rs. 3 million in 1992) after showing negative growth in 1991 and 1992. The 1994 half-year sales were Rs. 285 million versus 1993 half-year sales of Rs. 231 million. With a full year to half-year ratio of 2. the 1993 sales are expected to set a new record. Pre-tax profit margins are rising sharply and this trend is forecasted to continue in the near term. Specific ally, turnover grew by 22. 53% as compared to 16. 3% in 1992 and operating income more than doubled to Rs. 59 million (Rs. 27. 3 million in 1992). ROTA and ROCE recovered to 5% and 18% respectively and are expected to jump sharply in 1994 due to much higher net margins which are forecasted at 10% versus 3. 5% in 1992. FEROZSONS LABORATORIES LTD One of the smaller players in the domestic pharmaceutical industry, Ferozsons is still in consolidation phase after a rough patch in the last two years. The company is diversifying into cosmetics and toiletries while actively seeking partners of this party manufacturing in this segment. Contract manufacture of Vicks Vapor-rub of Procter Gamble, is said to have shown substantial growth. Civil works at the company’s cosmetics factory at the tax free Gadoon industrial estate is almost complete and machinery is reported to have reached the site. Ferozsons appears to have turned the comer and is on a growth pats. It is a candidate for selected buying on weakness, for the long-term pretax profits have shown tremendous improvement of 400% through the absolute quantum is still small. Margins have also edged up with gross margin rising 4% to 32% and net reaching 7. 1% from 0. 8% in the previous period. Interest cover has improved markedly and the current ration has shown improvement rising to 1. 32 versus 1. 16 last year indicating the liquidity is not deteriorating in the short term. The return on capital has jumped to 24% due to sharp rise in net profit. SEARLE PAKISTAN LIMITED Searle Pakistan Ltd was established in 1965, incorporated USA owned 60% shares in the company till year 1992. The UDL group which itself has an annual turnover of more than 6. 0 billion acquired the controlling shares from G. D. Searle in 1993. The board of directors comprises of 7 directors, out of which 6 belong to UDL group. Searle Pakistan Ltd has its plant in Karachi. Its product canderel and hydrallin enjoy market leadership in their respective market segment. The acquisition of Searle by UDL has placed the company in the hands of the largest local distribution company in Pakistan. The company has disproportional benefit from price deregulation, as almost 50% of its sales are free from price controls. The combination of distribution syringes with UDL and potential of significance rise in margins due to continuing deregulation, Searle is expected to begin a solid and sustained growth in market share and profitability. The company has a license to use the name and style of Searle on its products for five years additionally, it will have technical and quality control support from the Searle. It is also engaged in contract manufacturing for ICI, Procter Gamble and Woodwards. With this business expected to rise economics of scale will positively impact gross margins. SPL has set a robust growth path for the next few years with sales rising at ground 25% p. a. gross and net margins jumped in 1993 due to price deregulation allowing the company to attain gross margins of 73%. Continuing price increases should allow gross margins of 40% to be achieved in 94/95. The company’s ROCE has shot up since its acquisition by UDL in 1993 to 28% from 20% in 1992. With UDL’s marketing prowess and price deregulation ROCE will continue to rise to 35% range in 94 and 95. The company remains in a comfortable position in terms of debt servicing with an interest cover of between 4. 8-4. 9, despite a rise in long term debt linked to the take over. SPL is a cash generating company keeping a significance amount of cash in hand. This bodes well for shareholders whether in terms of dividend payout or reinvestment in expansion of business and diversification. PARKE-DAVIS COMPANY LIMITED Parke-Davis Company Ltd is a subsidiary of Parke Davis USA, which has a 75% stake in the local company. The company is involved in the manufacture and marketing of pharmaceutical and to likely preparations. Major brands of Parke-Davis are Ponstan, Chloromycetin and Amodiaquin. The company is major player in the analgesic antibiotic segment and ranks amongst the top 15 companies in the pharmaceutical industry. The stellar performance of Parke-Davis in 1993-94 has set the stage for taking it into big league for top 10 pharmaceutical, in the next years or so. Already one of the marketing leaders in the analgesic segment through its top selling ponstan, Parke-Davis has embarked on a two pronged growth strategy for the future, the results of which are already manifest in past two years results. The company is investing heavily in marketing its globally successful brands in key segments such as cold cough medication, anti-inflammatory medicines etc. At the same time, it is going all out to promote its non-regulated (in price terms) product ranges. The prices of Parke-Davis non- regulated products are still comparatively lower than the prices of some products in neighboring countries. This will allow the company to increase it margins in every segment where it is also increasing volume. The double impact will boost already accelerating profitability further over the next two year. With a prospective P/E of 9 in 1995 at current share prices (and forecasted EPS or Rs 38), the company is extremely attractive as growth stock. Since 1993 Parke-Davis has emerged from a period of consolidation and entered into massive new growth phase with record sales and high profitability. Sales growth has consistently risen over the last 5 years from 16% to a handsome 30%. The company achieved excellent results in 1993 with pre-tax profits jumping to Rs 84. 8 million from Rs 21. 9 million in 1992 as evidence of this new chapter in this dynamic evolution. Gross margin for 1993 was 35. 5% (one of the highest in the industry) as against 21% in 1992. Apart from the sharp rise in sales strict cost management as evident helped it from an increase of only 5. 64% in cost of sales. Net profits registered a four-fold increase from Rs. 12. 5 million in 1992 to Rs 49. 5 million in 1993. The company transferred 86% of 1993 earnings to general reserves (Rs 87. 5 million in 1993 Vs Rs 45 million in 1992). As a result shareholders equity increased from Rs 64. 8 million to 107. million from 1992-93, hence it can finance future expansion through debt. EPS in 1993 was a magnificent Rs 25. 3 as against Rs 6. 5 in 1992. Net asset value per share also increased to Rs 54 in 1993 from Rs 32. 5 in 1992. WYETH LABORATORIES (PAKISTAN) LIMITED Wyeth laboratories was incorporated in 1961 and started commercial production in 1963. It is involved in the manufacturer and marketing of pharmaceutical products. American house products are the holding company of Wyeth with 70% share holds. Another 26% shares are held by financial institutions. The company is a major player in ant-acids (Simeco and Mucaine), anti-biotics and tranquilizers. Wyeth is the major player in the ant-acids segment, with a segment market share or 60% its major products being simeco and mucaine. GLAXO-WELLCOME (PAKISTAN) LTD Glaxo Laboratories (Pakistan) Ltd is a subsidiary of Glaxo group U. K, which has a 70% stake. The company has facilities in Karachi and Lahore for the manufacture of pharmaceuticals and food products. Its head office is located in Karachi. The ranked third in the pharmaceutical industry in terms of share volume and first in terms of market capitalization as per 1993 figures. The major brand of Glaxo is Zantac (anti-ulcer) Caponex (anti-biotic) and Betnovate (dermatological). DRUGS DISTRIBUTION The distribution of drugs and medicines in the country may be undertaken in any of the following ways: Through stockiest/wholesalers Through national distributors Through company owed depots Under the first system, the stockiest are appointed in smaller areas like Nawabshah and Mirpurkhas etc, so that each covers a limited region. Stockiest perform simple functions and usually do not undertake sales promotion activities (these are handled by the manufactures staff). Stockiest employ sales-delivery men to cover upcountry regions. Large stockiest who handles a number of accounts may indulge in direct delivery system where spot order/delivery can be made immediately. The terms between stockiest and the retailer as well as between the stockiest and the manufacture varies depending upon the type of product, terms of contact, and the goodwill that each party enjoys. Pfizer and Wellcome use the stockiest system for the distribution of their output. The distribution through company owned depots is normally used by the large manufactures with high turnovers and long product lines. The depots are scattered all over the country and allow the manufacture greater control, as well as direct feedback from the market. The bigger cities have more than one depot. This method is based on the mechanism of the optimum cost of distribution. Direct distribution results in cost savings as the purchase complaints can be efficiently handled. Under the national distribution system, a national distributor acquires the stock from the manufacture warehouse. The distributor works through salesmen who deal with orders and use various incentive schemes and productivity plans to motivate the field staff. GOVERNMENT REGULATIONS In 1972, the Drug Generic Act was introduced. After this the Drug Act was introduced in 1976. It gave the government to control the prices of drugs. Under this act, the manufacture, sale, distribution and the profits of the pharma industry were totally regulated by the government. A drug-manufacturing license was granted for a limited period of two years. All selling prices of the drugs were to be fixed by the Ministry of Health. The formula for calculating the price of finished imported medicines, as mentioned before, was cost plus 40% mark-up. In addition tom the formula, the prices fixed for imported medicines were automatically revised on July 5th of each year to allow for the exchange rate fluctuations. Prices of local drugs were determined on a prime cost plus mark-up basis. All manufactures had to comply with the Good Manufacturing practices and other requirements of the Drug Rules of 1976. In 1977 the import of unregistered drugs was banned. This law was followed by the Drugs Rule of 1979. In 1989, the Drugs Labeling and Packing Rules were reinforced. This made it compulsory for the Pharma companies to print the date of manufacture and the date of expiry of all medicines. In 1993, the Economic Co-ordination Committee divided drugs into two categories. The prices of drugs under controlled category were not allowed to be changed at the discretion of manufacturer. Exemption on the import of raw materials, for the manufacture of pharma products had been extended to all drugs registered under the Drugs Act. Protection had been extended to the local infusion solution and in fusion administering sets manufacturing industry through levy of regulatory duty on the imported substitutes. Exemption from customs duty and sales tax had been granted on plant and machinery, which were imported for the establishment of the approved projects for manufacture of Pharma raw materials. This excluded locally manufactured machinery. The Pharma industry was included in the list of key industries under the industrial policy. No new Pharma unit could be set up and license to manufacture drugs without the approval of the EEC/CIPS depending on the cost the project. The standard rate of royalty was kept at 2% for a period of three to five years. In March 1995, the Senate Standing committee on health made some important recommendations to the government with reference to the Pharma industry. The important recommendations are as follows: The government should not allow the Pharma companies the annual increase in the prices of essential drugs keeping in mind the recent price hikes. Effective deterrent legislation should be introduced to check the prices of drugs especially in the controlled category. Protection given through patents should be limited to those products that do not affect the public interest and the import of non-patented/generic drug should be promoted. Tax and tariff reforms suggested encouraging local production of basic raw material. Local prices should be set in comparison with those reigning with in neighboring countries. In May 1995, the Board of Investment announced a package of incentives for the Pharma industry. It is expected that as a direct result of this package the local production costs will fall by about 50%. The main features of the package are: Duty free imports of raw materials to boost the local drugs manufacturing industry. Reduction of imports duty on plant and equipment to 10%. Tariff protection to local manufacturers against the import of raw materials being produced locally. Exemption of the Pharma industry from sales tax. Revision of the debt to equity ratio from 60:40 to 70:30. In addition to the above mentioned regulations, the Pharma industry operates under the following rules: All Pharma products must be registered with the ministry of health. Manufacturers and retail pharmacies must be licensed and doctors must be registered with the Pakistan Medical Council. Pharmacists are not allowed to sell products from unlicensed manufacturers. In addition a special license is required to sell narcotics and controlled drugs. Prescriptions for narcotics must include the prescribing doctor’s registration number. Only products listed in the National Formulary (list of drugs, which may be manufactured, imported or sold in Pakistan) may be imported. Some locally manufactured drugs included in the formulary may not be imported. At least 5% of profits of Pharma companies must be invested in R D. Prices have to be set in accordance with the guidelines provided by the government. The following information’s must be included on the package and insertion: Manufacturer’s name and address, generic name, ingredients, dosage, warnings, indications, contraindications, side effects and precautions. No more than 5% of a company’s turnover may be spent on advertising, sampling and other promotional activities. Prescription Pharmaceuticals may be advertised in medical journals only. Advertising to non-prescription drugs is allowed if necessary information, precautions and prohibited use for certain diseases is made. If a product is found to be defective the manufacturer is bound to recall it. PROS AND CONS OF THE INDUSTRY The Pakistani Pharma industry has been undergoing a great deal of criticism and is probably a victim of misinformation. The defamatory remarks, accusing the manufacturers of marketing and selling the medicines at very high prices were made in certain sections of the press. Though this allegation has no concrete basis, as the Pharma Industry is highly regulated, suspicious do come to mind. Moreover, much has been said accusing the industry of producing low quality drugs and catering to a monopoly. These remarks can do a lot of harm to the industry and measures should be taken to keep the industry from earning a bad name. The salient features of the industry are as follows: 1. It is imperative for the government and the concerned authorities to realize that there should be no discrimination between national multinational companies, and there should be an immediate withdrawal of the decisions of the registration board on this subject. 1. The matter of transfer pricing has been grossly over- emphasized and over criticized for years. A recent study was done by the ministry of health to investigate the so-called transfer pricing by determining the differences in prices of the imported raw materials and the average international prices. A detailed research showed that the much trumpeted transfer pricing was only about 0. 0038% of the total sales volume. Hence the concept of transfer pricing in the Pakistani Pharma industry is virtually non-existent and grossly exaggerated. 1. Prices in new products should be similar to those of existing products. The registration board comprises of many medical and technical experts, who after careful scrutiny and analysis price the product. The analysis of each case is on merit and takes into account several factors before pricing the new product. This process has been effective but the multinationals can quote a lot of cases when the board has initially granted the retail price and then has offered a lower price for the new product. 1. Today it takes about $359 million and about 12 years of research for a research based multinational company to develop a new drug. The notion is that large MNCs capture markets by virtue of patents. Any leading position is obtained on the basis of research and development efforts or medical information. The allegation pertaining to the use of patents as a tool of market supremacy is usually made in developing countries, and a suggested remedy is to abolish these patents. But this allegation is entirely baseless. As mentioned above R D helps the company achieves a leading role, as these companies are responsible for Pharma innovation. They are known worldwide for their high quality products which results in their high market share. The patents are used only to protect their research work; otherwise the companies would not be able to finance its R D due to fear of piracy. Hence such notions against the patent systems prevalent in some segments of our industry are baseless. 1. Since the partial deregulation of the Pharma industry in 1993, the greatest beneficiaries have been the national companies. It can be certified for all 32 MNCs that the prices of controlled products increased by only 5%, where those of decontrolled products increased by 24%. In June 1993 all the companies had the opportunity to increase their retail prices to whatever level they desired. The national companies had the unique opportunity of increasing their prices up to the level of the prices of MNCs products. Hence there does not exist any disparity. 1. The open tender method is probably the most efficient, economical and fair bulk purchasing policy used worldwide. In this system all the companies compete for the business. The Federal government and the Provincial government buying agencies follow the open tender method and are able to purchase quality medicines at low prices. In fact, the government agencies often indulge in intensive price negotiations and orders are finally placed upon the component ones. 1. It is wrong and improper to say that multinationals should be allowed to produce only a few products, as is often proposed by local manufactures. This practice is against international laws equitable business practices. 1. Some of the drugs have to be imported and are not manufacture locally. There are basically two reasons for this fact. One is that some of these drugs are highly specialized and cannot manufactured locally. Secondly, the demand for such drugs is so small that local manufacturing will not be feasible. 1. Despite the hurdles in the manufacturing of chemicals, Pharma MNCs are moving into basic and semi-basic manufacturing. Glaxo is producing most of its major active chemicals locally. Wellcome has set up a huge trimethoprim facility. Hoechst, Cyanamid and Sandoz are also in the field. Beecham is also manufacturing some of its basic chemicals. One local company Pharmagen Beximco has recently entered into basic manufacturing. 10. To save foreign currency and promote the transfer of technology, the government has provided for total basic manufacture of products. These include imported plant and machinery exempted from customs duty and the refund of duty paid on imported process chemicals. 11. The decontrols of nonessential drugs is a potential boom to the industry and could prove to be a gold mine for those companies heavily engaged in the manufacture of such products. The authorities had hinted that the price of the so called decontrolled drugs would be re-decontrolled after 30 June 1995, and that controlled drugs will be allowed another price rise of 7. 5% to 10% towards the end of this year based on a new pricing formula which adjusted for devaluation and inflation.

Is the world changing for better or worse free essay sample

The world is forever changing, but is it changing for the better? I believe that it is. Technological advancements such as the internet have enabled us to easily access information in a matter of seconds. Scientific advancements such as vaccines have also allowed us to cure the seemingly incurable. These examples have shown that the world is changing for the better. When the internet was first introduced to the public, people were amazed by its capabilities. Even now, the internet is still constantly expanding and improving to make the world a better place. It could be used for research, studies, and even games. Its convenience and easy-access are also what makes it increasingly popular. Through my personal experience, I have also learned that the internet makes knowledge and learning not only easier but also more accessible. In the past, when I had a question about a topic that was mentioned at school, I would have to leaf through countless number of books just to find my answer, but now with the simple click of a mouse, I can find my answer on the internet. We will write a custom essay sample on Is the world changing for better or worse? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The internet has indisputably made the world a better place by making life more convenient. Scientific advancements such as the polio vaccine have also contributed in making the world a better place. During the 19th century, polio was a common contagious illness that caused many to suffer. However, the polio vaccine was soon developed, and it enabled those who would have otherwise died from this deadly disease to live. By saving millions of lives, the polio vaccine has greatly changed the world for the better. In conclusion, the world is constantly changing for the better and examples from technology and science have proven this true.

Ethical Issues of the Holy War Essay Example

Ethical Issues of the Holy War Essay The issue of a jihad, or holy war is a term brought from the bible to give bearing to the conquest of the land of one by the request of God. If and what relevance does this term have to the world as we know it today? The ongoing conflict in the Middle East is a prime example that it is still an issue and probably always will be. This ethical problem deeply affects three of the most prominent influences on the way each culture in the world operates.First is the political aspect. The Israeli possession of Palestine, treatment of the Palestinian people, and the habitation of the West Bank all make us vulnerable when taking either side. Meaning we put ourselves in a situation where we automatically make an enemy. This brings the second point into perspective.How should we act in warfare? Should we be participants or just object and watch, because how do we know if God is on the same side we are and what the consequences of the actions will be. The third point is that with the above in mi nd, how does this affect our view on the character of a God who can judge a group and be fair to each of us individually. There are two basic ethical decisions when deciding upon where to stand on the view of a holy war.Is it right or is it wrong?The view that holy war is moral and right comes from the term Graded Absolutism. This states that killing is clearly against Gods law, but God exempted Israel from breaking these to satisfy higher laws (Geisler 27, 115-118). The other is Unqualified Absolutism. This states just the opposite, that it is wrong no matter what, and that Gods law against killing is a moral absolute that must not be broken. (Geisler 27).What were the reasons for the rise of a holy war? From my reading I have found four distinct events that led to the start of each war. First, each followed an outcry against a nation that practiced extreme, widespread violence and cruelty. Also, each was preceded by extensive exposure to

Criminology Example

Criminology Example Criminology – Coursework Example Criminology Criminology Strain theory s that there are many social structures in the society, which could lead an individual into committing crime. These social structures can be grouped under three categories. The first is related with the nature of an individual’s relationship with others. When one has negative relationships with others in terms of not being consistent with how an individual believes should be treated, one tends to get depressed that can lead him or her to crime. The second category occurs when one takes away or threatens to take away ones positively valued stimulus. The third form of strain theory occurs when an individual experiences a negative stimulus. Biological theories of crime state that people are made to commit crime due to biochemical, genetic, and neurological imbalances. Psychological theories state that people are made to commit crimes as a result of personality imbalances that occurred in their childhood. Sociological theories state that indiv iduals are made to commit crime due to their interaction with others and the their environment. Psychological profiling is a tool that can be used by criminal investigation agencies in establishing the psychological state of the person committing crime during the time of the crime. It is used in identifying the criminal being looked for by the investigation team. The Chicago School of Sociology introduced the idea that people are not just born good or bad in their character – social situations, people, and some external forces that are found in their environment influence their character. Under this theory, they proposed the social disorganization theory, differential association theory, and social learning theory. Numerous crimes are committed on daily basis. This occurs due to the fact that in the society, people face different problems that cause frustration, and sometimes depression. This occurs in all communities in the world. On the other hand, when people are expose d to violence especially in their early stages of life, their personality traits develop into considering criminology as something that is socially acceptable. They indulge in criminal activities as part of an acceptable lifestyle. Siegel L. J. (2008). Criminology. Beverly, MA: Wadsworth Publishing.

Hotel project Essay Example | Topics and Well Written Essays - 1500 words

Hotel project - Essay Example struction of the hotel are imported from overseas, and there is a need to also import many workmen form overseas, to ensure that the whole system works properly. The Hotel management company is Winegardner & Hammons Inc Description of where the land is, the size of the parcel, what are the major streets and what is close to the proposed property. The overall cost of the property. You can use a commercial real estate broker, or when you are in the area check to see which prosperities are for sale and zoned properly. This will include a map of the area or aerial shots or photos etc. The proposed location of the double tree hotel and resorts is in Wichita, Kansas. The hotel is intended as a luxury hotel which will utilize elegance and style in decoration, in order to provide customers with great services and a unique impression. The hotel’s suites and guestroom will be furnished to perfection with various oil paintings, eighteenth century English antiques and some rich mahogany furnishings. The hotel will be further differentiated as a manor home of elegance, as an art collection will be set up which blends American antiques and classic European antiques with distinctive pieces of oriental origin that will also reflect a Hong Kong heritage. This is sure to attract travelers who have a love of arts. The hotel will possess a warm, friendly atmosphere that is home-like. From Airport: 45 Miles. Kansas City Intl Take I-29 North to I-435 South to I-435 East. Continue to Hwy. 69 South. Exit at College Blvd. East. The hotel is on the left. From Wichita- I-35 North to I-435 East to Hwy. 69 South to College Blvd. East Exit. From Lawrence- Hwy. 10 East To I-435 East to Hwy. 69 South to College Blvd. East Exit. (Directions and Transportation. Retrieved from http://www.doubletree.com/en/dt/hotels/directions.jhtml?ctyhocn=MCIMSDT) Floor plan of the hotel and restaurant and how it fits on the lot. To include number of rooms, suites, meeting rooms and all other facilities. This

Case Study-Sting Ray Study Example | Topics and Well Written Essays - 500 words

-Sting Ray - Case Study Example PoolVac also wishes to use its sales data for the last 26 quarters to estimate demand for its Sting Ray.Demand for Sting Rays is specified to be a linear function as the following: 1. Run the appropriate regression to estimate the average variable cost function (AVC) for Sting Rays. Evaluatethe statistical significance of the three estimated parameters using a significance level of 5 percent. Be sure tocomment on the algebraic signs of the three parameter estimates. (30%) At a confidence level of 95% (5% level of significance), all the three parameters are significant, as they have a p-value of less than 0.05. Notably, a (intercept) has a p-value of 1.96*10-17, while the coefficients b and have p –values of 0.000342 and 0.01299, respectively The model implies that average variable costs is a function of both Q and square of Q. the first parameter, intercept is 152, implying that the expected average cost at constant quantity is 152. As quantity varies, average cost will vary directly with Q2 (positive parameter) and inversely with the quantity (negative coefficient). Notably an increase in quantity does not necessarily increase average variable cost, the effect depends on which variable(either Q or Q2 ) has a greater influence. Evaluate the statistical significance of the three estimated slope parameters using a significance level of 5percent. Discuss the appropriateness of the algebraic signs of each of the three slope parameter estimates.(20%) h= 3.166Ph and p-value of 0.027, implies that holding price and income constant, If competitors reduce their prices by a unit, customers shift from sting ray to its substitutes hence demand reduces by 3.166 units and vice versa. 5. The manager at PoolVac, Inc. believes Howard Industries is going to price its automatic pool cleaner at $250,and average household income in the U.S. is expected to be $65,000. Using the regression results from Question 4, write the estimated demand function (with only P as

Individual Global Market Research Case Study Analysis Essay

Individual Global Market Research Case Study Analysis - Essay Example When Brooks shares these ideas with the rest of the management team, he receives a very strong resistance from them apart from Drew Spenser who further challenges the firm to take its operations to markets that have previously been considered unproductive (Aaker & Aaker, 2010). In business, the only pointer to growth and development is expansion. Expansion may be reflected in the increased operations of the company or by the firm devolving its operations to newer markets. By engaging in either of the two, the company has its presence felt in a wider area. This it ensures by having its good and services being sold in newer markets at least every day. However, the expansion must be effectively planned and properly researched. Failure to carry out a market research may result in lack of effective understanding of the market which may further result in severe losses and failures in whichever undertaking that a business may later engage in (Thomas & Michael, 2001). In the case study, the architectural firm faces a number of challenges right from within its management. Drew Sperry, before starting this firm, had at one time served in a secondary firm. While there, he built his own customer network; it is this network that he resorts to serve later when he sets up his own company. Within the first months of business, the company is supported by a contract it wins to construct park facilities in Prince Edwards’s province for the department of tourism. Its later operations are also small scaled and the business is literally surviving. But just as is normally the case with businesses, the firm later gains reputation and increases its operation and clientele base. With time, the firm increases from the three employees that Derry Sperry had at inception to the current over fifty architectures that the firm boasts of. The brief story of the firm points to the essence of growth. From a four staffed firm, the company has grown to having over forty graduate architects. It thus beats logic that the employees of the company may find it hard to accept the plans for expanding the operations of the company. The difficulty in the acceptance of the expansion may be brought about by a number of reasons key among which may be the fear off that which is unknown. Managers may find it hard to invest the company’s capital in a foreign market where it may not perform effectively and give back the returns as expected. In case a company incurs losses, those to be blamed are its management who will be accused of inefficiency and not putting in place the best strategy for effective market response. In the architectural industry, matters are made even more complicated. The construction industry is forever viable; each day there is a building either being put up or being brought down on safety issues. Just as is common knowledge, a building is consumed by its target market through living in it. In the even of a dissatisfaction or poor workmanship, there normal ly results the loss of lives which is a case that no government can allow. This is a feature of the industry that has resulted in very close supervision and monitoring from state departments. This excessive gross supervision and standards set for the company by the government results in slow rate of investment and slow expansion into newer markets. Maybe a business does not meet the specifications set in a foreign country; this will

Discrimination Of Ethnic Minorities

Discrimination Of Ethnic Minorities Racial conflict is defined as societal controversies related to variances in ethnic, cultural, or national affiliation. Specifically, racial conflict is the result of one dominant cultures control of differing cultures through economics, politics, social policy, and law. In the U.S. juvenile and criminal justice systems, the term racial conflict can be used to refer to discriminatory practices by those who work in the juvenile and criminal justice systems against minority persons (Akers Sellers, 2004). Recent literature expanding the racial conflict concern to include U.S. policy, murder as the result of identity internalizations, and merchant-consumer relationships is not discussed here (Walker et al., 2004). Instead, this paper examines the literature depicting racial conflict as a systemic and controversial topic in the juvenile and criminal justice systems. Body Historical accounts of violent racial conflict have existed since before the 1800s and up to the present day. Likewise, the relationship between racial conflict, crime, and minority processing has been examined (Baldus, Woodworth, 1998). In addition to its explaining why some people commit crime, racial conflict has also been linked to disparate decision-making practices at both the arrest and the punishment stages for ethnic minorities. Specifically, African American males represent the most prevalent minority group at each of these stages. Empirical findings show that disproportionate minority confinement exists partly as the result of police discretion to arrest. Accordingly, minorities, particularly African Americans, find themselves at a disadvantage in the criminal justice system. Recent accounts of racial conflict in the criminal justice system came to the fore during the 1992 riots after a verdict of not guilty was returned for the officers involved in the Rodney King incident in Los Angeles, California. More recently, in 2005, racial conflict was linked to the governments response and policies after Hurricane Katrina in New orleans, Louisiana (Spohn, 2002). Specifically, victims of this natural disaster were outraged at the lack of governmental support and the assignment of the label refugee to American survivors in this largely minority populated area. To some, the use of the term refugee was symbolic of the perception that the survivors were outsiders to begin with. This was seized on by the national media, and the survivors were quickly recast as evacuees. Similar to disparities in the adult justice system, minority disparities in the juvenile justice system exist. Specifically, African American youth, similar to their adult counterparts, are disproportionately represented throughout the system. on one hand, criminologists argue that ethnic and racial minorities commit more crimes than their White counterparts and thereby have greater representation in the system. on the other hand, criminologists and sociologists argue that racial conflict in American society acts interchangeably with the law as a method to control minority power. Thus, as a result, disparities are found in arrest, charge, and confinement of African American youth when compared to White youth who commit the same serious and violent criminal acts. The larger implication here is consistent with the belief that racial conflict is supported and maintained by actors in the juvenile and criminal justice systems (Walker et al., 2004). Racial Conflict and Justice Research on the relationship between racial conflict and crime commission has examined interracial killings, economic and power competition, and disparities within the criminal justice system (Zatz, 2000). Racial conflict has been linked to delinquent behavior by juveniles and has been linked to school violence, juvenile homicide, gangs, theft, and other serious and violent crimes. one of the more engrossing questions facing criminologists and indeed our nation is whether the two justice systems are impartial. Criminologists have studied the relationship between judicial processes and discrimination, and some evidence suggests that ethnic minorities are overrepresented at arrest and, when compared to White offenders, are punished more severely. Similar results were found in examinations of pretrial processes where racial injustices in jury selection and judge bias against minorities were present. Whether or not African Americans and other ethnic minorities are overrepresented in the criminal justice system is not a question here, as official data provide a clear depiction of this disparity (Spohn, 2002). The concern here is, however, focused on why racial disparities continue to exist in the juvenile and criminal justice systems. The existence of conflicts between police and racial/ethnic minorities has historically been related to riots that are often the result of racial conflict. Many researchers argue that juvenile and adult processing of ethnic minorities as the result of racial conflict continues and is maintained by the continuous cycle of analyses, recommendations, and inaction that have resulted in ineffective identification and reduction of racial disparities. Contrary to this argument, other researchers point out that racial disparities exist largely as the result of serious and violent offending patterns of ethnic minorities. Conclusion The literature is filled with options for reducing racial conflict in the criminal justice system. The argument is made that to effectively address racial conflict, research should be conducted at each stage of processing so as to increase the level of accountability of officials and agencies within jurisdictions where racial disparities continue to exist. others stipulate that researchers must identify the problem, change and create policies that effectively address the real concerns, and implement and fund programs dependent upon evaluative measures. At the theoretical level, many criminologists recognize that extensive changes within both the juvenile and the criminal justice systems are needed to address prejudices in the system that exist as the result of policies and practices. Hence, the argument of racial conflict and discrimination in the criminal justice system remains unresolved. Conflict theorists believe racial conflict is the reason for minority differences in criminal and even juvenile justice processing. Even so, differing arguments are presented stipulating that the empirical nature of racism is not measurable and thus is questionable. While there are two dominant opinions, it remains evident that many researchers hold the view that racial disparities as the result of racial conflict continue to exist and should be addressed in juvenile and criminal justice processing.

Analysis of A Modest Proposal by Jonathan Swift :: essays research papers

This essay by Jonathan Swift is a brutal satire in which he suggests that the poor Irish families should kill their young children and eat them in order to eliminate the growing number of starving citizens. At this time is Ireland, there was extreme poverty and wide gap between the poor and the rich, the tenements and the landlords, respectively. Throughout the essay Swift uses satire and irony as a way to attack the indifference between classes. Swift is not seriously suggesting cannibalism, he is trying to make known the desperate state of the lower class and the need for a social and moral reform in Ireland. Jonathan Smith goes to extreme measures to explain his new plan to raise the economic wellbeing of his country. He explains what age is too young and what age is too old, in order to eat the tenants children when they are at their prime juiciness. He also gives a list of suggestions on how to cook them, ?A young healthy child well nursed, is, at a year old, a most delicious nourishing and wholesome food, whether stewed, roasted, baked, or boiled, and I make no doubt that it will equally serve in a fricassee, or a ragout.? All of this talk about eating children comes as a surprise because previous to this disturbing suggestion, Swift is ironically discussing the plight of starving beggars in Ireland. The reader is unprepared for the solution that he suggests. The idea of eating all the youth in the country is obviously self-defeating and is not being seriously suggested by the writer. He is simply trying to show how desperate the lower class is in Ireland. Swift introduces the reforms he is actually suggesting, taxing absentee landlords, of encouraging the domestic economy by buying Irish goods, of discouraging pride, vanity, idleness, by dismissing them in his essay by saying that they are impractical. However, these reforms greatly differ from his ?modest proposal? because instead of the poor sacrificing their children, it would involve the rich sacrificing some of their luxuries. He is trying to point out the fact that reforms that would be practical and beneficial to the people of Ireland are being overlooked for the convenience of the rich.

European Qualifying Assignment Arab Spring Essay

The revolutionary performances of anti-government protest and counterdemonstrations performed in the Arab World that commenced on December 17th, 2010 are well known as The Arab Spring. Violent and non-violent actions done by citizens of different nations have caused outbreaks on governments and civil wars affecting all. These disturbances originated in the country of Tunisia and dispersed to other Middle East nations such as Syria, Egypt and Libya. Due to the protest from these nations, transformations have been established in the Arab World by Western Liberalism and outcomes for the future can already be predicted by the events of Arab Spring. The emerging of several protests, known as The Arab Spring, began on December 17th, 2010 when a young graduate committed an unforgettable act of sacrifice for a strong belief. Mohammed Bouazizi, a jobless graduate, was selling vegetables in the country of Tunisia to support his family when a police official confiscated his cart for selling the m without a â€Å"permit†. (The Guardian) Immediately after, in protest, Bouazizi proceeds to the provincial-capital building to complain but receives no response. Angered by the lack of reaction from the government, Bouazizi sets himself to flames in the middle of the street (The Protester: Kurt Anderson). The rioting in Tunisian and every outbreak in many other Middle Eastern nations began from the action done by Bouazizi and the sacrifice he made for others struggling with unemployment. â€Å"The vegetable seller who sparked the protest,† (The Guardian) was used as a headline to proclaim the foundation to a plethora of conflicts that would continue for many years. Soon after Bouazizi died as a martyr, commotion provoked by the angered youth outspread through many parts of Tunisian — â€Å"Hundreds of youths [who] smashed shop windows and damaged cars.† (Reuters) Frustration and rage from the death of Bouazizi and the high levels of unemployment in the region influenced this behavior from the youth tha t resulted in various arrests. The people of Tunisian demanded political changes and economic opportunities to those who battle with unemployment and corruption. Since the graduate’s sacrifice, ten days of violent protesting killing as much as two people have been made in a nation where â€Å"dissent is  rare.†(The Guardian; Julian Borger) Despite actions attempted by Tunisian’s president, Zine el Abidine Ben Ali, such as his televised announcement made on December 29th, 2010 assuring punishment to rioters that caused the death of two and Bouazizi, and promising more occupations for others, protest still sustained. Due to the oppressive rule of dictator Ben Ali, his wife and his regime, the people of Tunisian have suffered from high unemployment, rising food prices, corruption, political repression, and no freedom of speech. The hostile regime of Ben Ali and the anger from the Tunisian people have exceeded to â€Å"explosive levels† (World Revolution 2011 – The Arabian Spring!: YouTube Video). The death of Bouazizi triggered an outrage and numerous days of protest done by unemployed and irritated people. On January 9th, 2011, protesters encountered with the police and set fire into cars in Tunisia (Arab Spring Timeline: YouTube Video). A â€Å"revolution† was arising- The Jasmine Revolution; changing and affecting everything in the country of Tunisia. Hundreds of Tunisian people would stay grounded in the streets, protesting in front of their government demanding freedom and change! Despite the agonizing pain from being beaten by police officials, arrested and even killed, the youth did not stand down until justice was served. On the date of January 14th, Ben Ali surrenders to the protests and fled to Saudi Arabia. With the removal of the Tunisian president, the hopes for other Arab nations departing from their dictatorship governments increased. On January 1st 2011, the country of Egypt became involved with protest when at least 21 people were killed and more than 70 injured in a suspected al-Qaida suicide bombing in Alexandria (The Guardian). After the explosion, hundreds of Christians and Muslims raged came to the streets of Egypt â€Å"clashing† with one another and the police â€Å"pelting each other with rocks† wrathful by the events that left their loved ones dead. Police used â€Å"tear gas† to separate the rowdy groups but this only angered them more because they were unable to express their pain (The Guardian: David Batty) . January 17th, a man burns himself in front of Egypt’s parliament in protest against poor living environments. Mass numbers of unemployed youth, lack of opportunities and rising poverty has influenced young protesters to flood the streets of cities throughout Yemen (The Arab Spring: YouTube Video). Urging the government to an â€Å"end to corruption, the creation of jobs, and implementation of democratic reforms†¦demanding  President Hosni Mubarak to resign† (The Arab Spring: YouTube Video). After 18 days of protest, on February 11th, Mubarak does step down from power and gives the government to the military (The Guardian). In March, Syria also began associating with protest amongst its people when arrests of several teenagers in Damascus are done because they dubbed anti-regime slogans into walls. Thousands have died from the unrest but those who continue to thrive are the young and out of work; â€Å"risking their lives day after day for hopes of having a bette r future† (The Arab Spring: YouTube Video). In later months, on July 22nd, hundreds of thousands of Syrians support the anti-regime movement across the country. Also in Libya, actions against the president, Muammar al-Gaddafi were done to remove him from power; which was succeed by him being soon assassinated on October 20th, 2011. Tunisia, Egypt, Syria, and Libya all had similar hardships in their countries whether from unemployment, poverty, corruption or lack of freedom. However, with endless protest done against each regime, every country was able to overthrow their dictators and have freedom. The impact on every change done to the Arab World during The Arab Spring was impacted by Western Liberalism. Western can be defined by â€Å"living in or originating from the west, in particular Europe or the U.S.† while Liberalism is defined as â€Å"a political orientation that favors social progress by reform and by changing laws rather than by revolution† (Google Web). Combined together, Western Liberalism means a reform based on the west and its values. Transformations in the Arab World have been greatly affected by Western Liberalism because the changes in the Middle East are very similar to the ways of life in the west. To explain, since the dictatorship nations have been overthrown, the countries have experienced freedom and opportunities. In Tunisia, a new president, Moncef Marzouki, a former activist is now in office after being elected by Tunisia’s constitutional assembly (The Guardian). Democracy, the ability to elect the one in power, is now present instead of dictatorship; this is the same government the west possesses. Also in the country of Syria, democracy was being used to elect the new authority on December 12th, 2011 (The Guardian). Distinctive European and U.S. Values are legal equality, political democratization and equal opportunities. As a result of the Arab Spring, in some parts of the Middle East, men and women are given equal opportunities. Jobs, stable living environments, and freedom are all  allowed in most parts of these nations. Freedom of speech and Freedom of religion are now legalized in nations were they were once forbidden. Excessive ways of expressing your beliefs, thoughts, and opinions are all authorized in countries they once were prohibited in. Freedom, democracy, and change for a new life have impacted every part of the Arab World post Arab Spring. All of these reforms have been influenced by Western Liberalism and transformed these Middle Eastern nations. From analyzing and evaluating the events that have occurred during The Arab Spring, predictions for the short and long term future can be established. Throughout every battle, originating from the outburst in Tunisia, traveling to the hardships in Egypt, to the struggles in Syria and the battles in Libya, as well as many other Middle Eastern nations, protest have successfully evolved every country into what they are today. Although conflict in every nation still proceeds, events that have already happen can mold a blueprint for future years. In Tunisia, Marzouki, the new president, is doing great things that assure opportunities for many citizens such as creating occupations for the unemployed that will lead to a growth in the economy which will be successful to the residents living there. In each country, the main goals from the protest were democracy, freedom, human rights, employment, and a change in the regime (Wikipedia). Despite that many countries are still struggling with this, all have already received it. Democracy is now the regime in each Middle East nation. Freedom and Human Rights are now being offered to the people even though it still will take more time until the crusades come to an end. However, in many countries, not many things have changed. In Yemen, little has been done since the removal of their dictator. In Syria, â€Å"a savage civil war is still proceeding with 100,000 killed and two million refugees seeking for shelter in neighboring countries† (Asian Age). Eventually, in the long term, every country in the Middle East will be at peace with its self, its people and the nations around it. It will take time and effort but with the progress happening every day, it won’t be long until each nation resolves the issues that still persist. December 17th, 2010, Mohammed Bouazizi set himself to flames and created a worldwide protest against regimes and conflicts. Violent outbreaks and disturbances against governments have occurred all around the Middle East. Changes have been made influenced by Western Liberalism that can predict the  future for the nations and the people involved in The Arab Spring.

Hand, Foot Mouth Disease Essays

Hand, Foot Mouth Disease Essays Hand, Foot Mouth Disease Essay Hand, Foot Mouth Disease Essay Abstract Hand, foot and mouth disease is a viral infection, usually caused by Coxsackievirus A. It’s highly contagious and spreads through coughing, sneezing, sneezes, and even contact with infected stools. Hand, foot and mouth disease is common in children but rare in healthy adults. Most adults are immune to the virus because they had contact with it as a child. Early symptoms of hand, foot and mouth disease include a fever and sore throat, followed by sores or blisters in your mouth and on your hands and feet. The incubation period is three to six days. During this time, the virus can be passed on. There’s no specific treatment for hand, foot and mouth disease, but there are steps that you can take to ease your symptoms. Hand, Foot and Mouth Disease Hand, foot and mouth disease (HFMD) is a viral infection caused by a strain of Coxsackie virus. Hand foot and mouth disease is a common infection in children three to ten years of age. Hand, foot and mouth disease can sometimes be confused with strep throat at first until the test results for strep come back negative. The virus in the hand, foot and mouth disease cannot be destroyed by the acid in the stomach, and can live on surfaces for several hours. : Once a person gets the virus, it takes an average of one to two days for the symptoms to develop. People are most contagious in the first week of illness, but the virus may still be present up to one week after symptoms go away. The virus itself in hand, foot and mouth disease may be present longer in children and those whose immune system are weak. There is no vaccine available, and there is no drug that specifically kills the virus. However, symptomatic treatment would be acetaminophen that reduces fever and discomfort is currently recommended. Mouthwashes and sprays may lessen the oral discomfort. Fluids are also suggested to prevent dehydration. Do not drink acidic juices which may irritate the mouth ulcers. Also, some physicians may also recommend Benadryl containing get or liquids to treat the hand and foot discomfort. The key to preventing hand, foot and mouth disease is good hand washing and covering the mouth when coughing or sneezing. Hand foot and mouth disease infections are mild and may not even cause any symptoms. It is common for the virus to cause an upper respiratory tract infection with sore throat and/or runny nose, as well as having a fever. By day two, the patient may get small tender blisters and red spots on the palms, soles of the feet,inside the mouth, and sometimes on the buttocks as well. In the mouth, sores occur on the tongue, gums, and cheeks. In some cases the patient will get a skin rash before the blister. The blister will then break open and crust over which usually goes away within a week or so. Hand, foot and mouth disease is rare in healthy adults, so the risk of infection during pregnancy is very low. If a pregnant woman gets hand, foot and mouth disease, the risk of complications is also very low. There is some limited evidence that catching hand, foot and mouth disease during pregnancy may result in miscarriage in very rare cases. There’s normally no risk to your unborn baby if you catch hand, foot and mouth disease. However, newborns may also obtain the virus from infected adults or children. This can usually happen in the nurseries or be transmitted during pregnancy at the time of delivery. During delivery, the infant can come into contact with the mother’s secretions. Some infected babies will have a mild illness, but infants are at higher risk. Hand, foot and mouth disease is spread from person to person. The virus may be spread by coming in contact with respiratory secretions from infected persons. If an infected person was to rub their runny noses and then touch a surface, that surface can harbor the virus and become a source of infection. The infection is spread when another person touches the contaminated surface and then touches his or her mouth or nose. Hand, foot and mouth disease can also be spread if you are in contact with infected stool, such as changing a diaper. The virus can be spread if unwashed hands get contaminated with fecal matters and you touch your face. This usually happens within day care centers or nurseries. The hand, foot and mouth disease is not a new infectious disease, it is a global epidemic. In 1981 Shanghai, China was the first to discover the disease after more than a dozen provinces and cities have reported the incidence. (WordPress, 2010)The following is outbreaks of the hand, foot and mouth disease for its following year. 1997- Thirty-one children died in an outbreak. 1998- There was an outbreak in Taiwan, affecting mainly children. There were four hundred and five severe complications, and seventy-eight children died. The total number of cases in that epidemic was estimated to have been 1. 5 million. 2006- There were cased of the hand, foot and mouth disease that were reported in some western parts of India. 2007- The largest outbreak of hand, foot and mouth disease in India occurred in the eastern part of the country in West Bengal. Authors found thirty-eight cases of hand, foot and mouth disease in and around Kolkata. 2008- An outbreak in China, beginning in March in Fuyang led to twenty-five thousand infections, and forty-two deaths by May 13. Similar outbreaks were reported in Singapore, more than two thousand six hundred cases as of April 20, 2008. 2009- Seventeen children died in an outbreak during March and April 2009 in China’s eastern Shandong Province. Eighteen children died in the neighboring Henan Province. Out of one hundred fifteen thousand reported cases in China from January to April, seven hundred seventy three were severe and fifty were fatal. In Indonesia, where the disease is often called Singaporen influenza, the disease was reported in Jakarta area starting with eight young children. By late April, health agencies in Jakarta were warning community health centers and encouraging preventive steps, including the use of thermal scanners in airports and avoiding travel to Singapore. 2010- In China, an outbreak occurred in southern China. Until March, seventy thousand, seven hundred fifty-six children existed infected and forty died from the disease. In conclusion, I had decided to do my research on Hand, Foot and Mouth Disease because my daughter who is two years old had been diagnosed with this viral disease just recently. I was surprised to know that it even existed. When my daughter was seen by a doctor and I heard the name of the infection, I honestly got it mixed with mad cow disease which has a similar name. After doing much research, I am glad that I learned more about what was going on with my daughter. Yes, it was true she did have all the symptoms and rashes as stated. At this moment, my daughter attends a  preschool which is where I believe she caught the virus infection. I would like to take more precaution knowing what I know being that I also have another daughter at home. In general my goal is just to be sure my children maintains good health, good hygiene, and be precautious of any other virus that can be passed on unknowingly. References A. D. A. M. , I. (1997-2011). Hand-Foot-Mouth-Disease. Retrieved July 2011, from Medline Plus: nlm. nih. gov/medlineplus/ency/article/000965. htm Board, B. C. (1997-2011). Baby Rashes and Skin Conditions. Retrieved July 2011, from Baby Center: babycenter. com/0_hand-foot-and-mouth-disease_1614. bc Division of Viral Disease. (n. d. ). Retrieved July 2011, from CDC: cdc. gov/ncidod/dvrd/revb/enterovirus/hfhf. htm Medicine Net. (1996-2011). Retrieved July 2011, from Coxsackie Virus: medicinenet. com/coxsackie_virus/page3. htm WordPress. (2010). Hand Foot and Mouth Disease . Retrieved July 2011, from Hand-Foot-Mouth-Disease: hand-foot-mouth-disease. com/hand-foot-and-mouth-disease-is-self-limited. html

The Skeletal System essays

The Skeletal System essays This report is supplying knowledge of the skeletal system by describing the main factors involved in the subject. The report contains the structure and function of the skeletal system, which describes how the skeleton is organised, bone classification and the skeletons functions relating to the body systems as a whole; the gross and microstructure of bone, which describes the composition of bone; the process of ossification, which involves bone growth and formation; and factors which influence bone health such as bone infection, diseases and fractures. Microstructure of Bone Tissue 6 Factors which Influence Bone Health 9 The skeletal system is made up of mostly bone but also tendons, ligaments and cartilage, which are arranged into a solid, rigid, structure that supports and protects our body (see diagram 1). Bones develop during a lifetime, causing growth and change in appearance. The skeleton is necessary for survival as we would not be able to function or live without it. This report is intended to extend the basic knowledge of the skeletal system and inspire continued learning in the subject and its relating body systems. The skeleton is made up of two parts, the axial skeleton and the appendicular skeleton (see diagram 2). The axial skeleton includes the skull, the vertebral column and the thoracic cage. The appendicular skeleton includes the bones of the upper extremities, the lower extremities, the shoulder girdle and the pelvic girdle. There are five main types of bone long, short, flat, irregular and sesamoid. Long bones are bones that are longer than they are wide. Long bones include the humerus, femur etc. Short bones are usually small and roughly cube shaped with vertical and horizontal dimensions approximately equal(Applegate, 1995). Short bones include the phalanges, metacarpals etc. Flat bones are flattened, thin and usually curved. They make up most of the skull, the ribs e...

Honesty in Business Essay Example | Topics and Well Written Essays - 500 words

Honesty in Business - Essay Example That will â€Å"satisfy† the customers and also attract them. Through that, by preserving â€Å"reputation† and â€Å"relationship,† (Reilly p. 2) business will gain a steady momentum. What we â€Å"do† and â€Å"say† will definitely affect our value in the long run? So winning someone's trust through honesty is quite important.   When someone trusts us, we need to prove that we are trustworthy. We have three major components to build this kind of a trustworthy relationship in business. And they are: â€Å"doing right things†; â€Å"doing things right† (Reilly p. 2) and doing these â€Å"proactively.†Ã‚   Earning a â€Å"social credibility† is necessary to embed some â€Å"value† in the customers' heart. Determining whether one is going to run long is to be done today. Doing right things articulates ethical behaviour. Doing things right is about good management. And the third thing is simply cautiousness and prep aration. (Writer's inference)  Ã¢â‚¬Å"Honesty encourages competition on the merits and prohibits competition by Cheating† (Frankel p.21). Honesty doesn't rule out competition in business, which is good as far as excellence is concerned, but it encourages a healthy ethical competition which is even far better. â€Å"America† for example which has put an effort in this venture of â€Å"honesty† and the result has been astounding. â€Å"The socializing of industry from within on a higher ethical plane...is greatly needed† (Gintis & Khurana p.27) â€Å"Business ethics† is another facet which we must not oversee or ignore. It highlights the â€Å"virtues† that must drive us in business.