A Global Overview of a Fast Relief Market Free Essays

A Project Report On A Global Overview Of A FAST RELIEF Market Submitted in Partial fulfillment for the requirement of the Degree of Master of Business Administration (International Business) from SUS College of engineering and technology,Tangori, Mohali.. Under the Guidance of: Submitted to: Mr. We will write a custom essay sample on A Global Overview of a Fast Relief Market or any similar topic only for you Order Now SUNIL Mr. ANIL Mr. PANKAJ SIR Submitted By: NANCY GOYAL MBA Acknowledgement I am very much thankful to Mr. Karun Narang (MD, Eastern Medikit Ltd. ) and Mr. D. Tyagi (AGM, Eastern Medikit Ltd) who allowed me to undergo summer training in their esteemed organization. This report deserves the special mention of few names, Mr. SUNIL PALand Mr. ANIL KUMAR SINGH , who guided me all the way and helped me at each of the stage. They helped me to gain knowledge about the various aspects of their organization. They shared their professional experiences, which will be very much useful for me in the long run. I would like to give a bunch of thanks to Mr. Bhupendra Singh, Mr. Krishna Sharma, Mr. V. P. Joshi, Mr. Jagmohan Roy, Mr. Pankaj Pandey, Mr. Amit Sharma, Mr. Guru Prasad, Mr. Pradeep Dua, Mr. Kunjal Patel, Mr. Ajay Sharma, Miss Piyali Chakraborty and Mr. Ankkur who helped me to improve my research work. I can not forget to thank all those people who directly or indirectly cooperated me during my training period. NANCY GOYAL SUS C. E. T TANGORI MOHALI.. INDEX * Introduction What is Fast Relief Medikit’s fast relief Details Competitors and Their Profile * SWOT Analysis PEST Analysis * Competitive analysis * Marketing mix * Strategies * Costs * Media costs Eastern Medikit Ltd Medikit is the India’s largest medical device export company Medikit has 5 manufacturing facilities in and around Gurgaon, covering 125,000 sq. ft with 25,000 sq. ft as class 10,000 and class 1,00,000 clean rooms. Our organizational strengths are rooted within Medikit’s unique flexibility to evolve and improve products and processes by deployment of globally competent manufacturing practices. Read Chapter 8 Microbial Genetics With ongoing in-house development of proprietary equipment and manufacturing techniques, our research and development activities along with our exclusive design and development centre ensure that Medikit is customer-driven and stays ahead, always. FAST RELIEF Definition â€Å"Fast relief† is a pain reliever product of medikit ltd. It is a extra strong pain reliever product. The main competitors of this is MOOV and HIMANI FAST RELIEF.. The new launched product fast relief has a unique and ayurvedic composition elements.. like Oil of wintergreen 15. 0% Pudina ka phool 5% Tarpin tel 3% Nilgiri tel 2% Base (bees wax) q. s. All these ingredients provides ‘sootthing warmth’ to relieve pain instantly.. which is the requirement. Purpose The purpose of this product is basically to give relief instantly from the backache pain. It works with its special ingredients to give relief from the backache. Its main purpose is to give warmth and soothing feeling at the pain area and to give quick relief. It works like a miracle at the pain.. Company’s Product Details MedifinTM| |   FAST RELIEF from MEDIKIT | | | Geographic Markets:DELHI , UP, MUMBAI, VARANASI, CHENNAI, BANGLORE, CHANDIGARH, LUCKNOW.. | | Product Details | Benefits| Being in topical form it is devoid of all undesireable effects of oral route.. | So it helps to maintain the valid effects. | Soft and therapeutic. | Gives instant relief. | Starts work immediately after application. | Complies with standard and quality norms. | Attractive design and coloured packaging. | Gives satisfaction quickly.. Gives soothing warmth. | To improve the body muscles so that relive remains for more time. | No sideeffects . | An ayurvedic cure. | Topical preparation gives therapeutic effects only at the site of application that’s local relief.. | Cheap and economical. Specially for common man. | MARKETING OF THE PRODUCT.. INTRODUCTION.. MARKETING IS ONE OF THE IMPORTANT ASPECT OF ANY BUSINESS AND SO WE WOULD ANALYSE VARIOU S MARKETING STRATEGIES MAINLY PEST ANALYSIS AND SWOT ANALYSIS , COMPETITIVE ANALYSIS ARE BEEN DONE AND EXPLAINED IN THERE.. MARKET SEGMENTATION AND TARGETING.. DELHI,UP,MUMBAI, VARANASI,BRALIEY,CHENNAI,BANGLORE, CHANDIGARH,LUCKNOW,MP,CALCUTTA. AGE- ABOVE 30 YEARS. GENDER- SPECIALLY FOR FEMALES. FAMILY SIZE- FOR BOTH BIG AND NUCLEAR FAMILIES SOCIO ECO CLASS- MIDDLE AND LOWER MIDDLE CLASS. PEST ANALYSIS.. Pest analysis stands for political,economical,social,and,technological analysis of macroenviornmental factors used in the environmental scanning component of strategic management. it is a part of the external analysis when onducting a strategic analysis or doing market research and gives a certain overview of the different macroenviornmental factors that the company has to take into the consideration. It is a useful strategic tool for understanding market growth or decline, business position, potential,and direction for operations.. POLITICAL- Govt support. , no risk for OTC brands. ECONOMIC- It is cheap and economical.. as it is available in different-different small packaging. It enhances the GDP growth and liberlisation. SOCIAL- Its is a innovative product suits the demands of the changing preferences of the society. It is suitable for the needs and aspirations of the common individual. TECHNOLOGICAL- It is made by the use of best technological machines. It has given a quality packaging with double lamination on the outer and inner area of the tube. SWOT ANALYSIS. Swot analysis is a strategic planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture.. STRENGTHS- It is an ayurvedic product. It is quick and instant pain reliever than any other relief balm. Its branding is fabulous and standardized Its channels of distribution and dedicated Employees working for its successful promotion. A huge capital investment.. WEAKNESS- It is a new product in the market. It has low market share now. OPPORTUNITIES- There is a huge market demanding innovation And change. Changing tastes and preferences of consumers. THREATS- The problem of brand loyality and mindset of Consumres regarding a specific product and its Quality. Popularity of competitive brands like moov. The condition of market is also a big threat. . POSITIONING STRATEGY.. The positioning strategy is an effective and important instrument for a business venture and for the product as well. As it causes the success of the product.. â€Å"FAST RELIEF† â€Å"AN AYURVEDIC CURE FOR YOUR PAIN† The positioning strategy should be strong and effective enough to make the product strong and popular.. TARGET AUDIENCE The main target audience are middle class family and low midlle class family woman, who works in the offices as well as in homes and have no time to go to doctors for their ignorable backaches.. INDUSTRY PROFILE Industry Definition â€Å"The Indian pharmaceutical industry is a success story providing employment for millions and ensuring that essential drugs at affordable prices are available to the vast population of this sub-continent. † Richard Gerster The Indian Pharmaceutical Industry today is in the front rank of India’s science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. A highly organized sector, the Indian Pharma Industry is estimated to be worth $ 4. 5 billion, growing at about 8 to 9 percent annually. It ranks very high in the third world, in terms of technology, quality and range of medicines manufactured. From simple headache pills to sophisticated antibiotics and complex cardiac compounds, almost every type of medicine is now made indigenously. Playing a key role in promoting and sustaining development in the vital field of medicines, Indian Pharma Industry boasts of quality producers and many units approved by regulatory authorities in USA and UK. International companies associated with this sector have stimulated, assisted and spearheaded this dynamic development in the past 53 years and helped to put India on the pharmaceutical map of the world. The Indian Pharmaceutical sector is highly fragmented with more than 20,000 registered units. It has expanded drastically in the last two decades. The leading 250 pharmaceutical companies control 70% of the market with market leader holding nearly 7% of the market share. It is an extremely fragmented market with severe price competition and government price control. The pharmaceutical industry in India meets around 70% of the country’s demand for bulk drugs, drug intermediates, pharmaceutical formulations, chemicals, tablets, capsules, orals and injectibles. There are about 250 large units and about 8000 Small Scale Units, which form the core of the pharmaceutical industry in India (including 5 Central Public Sector Units). These units produce the complete range of pharmaceutical formulations, i. e. , medicines ready for consumption by patients and about 350 bulk drugs, i. e. , chemicals having therapeutic value and used for production of pharmaceutical formulations. Following the de-licensing of the pharmaceutical industry, industrial licensing for most of the drugs and pharmaceutical products has been done away with. Manufacturers are free to produce any drug duly approved by the Drug Control Authority. Technologically strong and totally self-reliant, the pharmaceutical industry in India has low costs of production, low RD costs, innovative scientific manpower, strength of national laboratories and an increasing balance of trade. The Pharmaceutical Industry, with its rich scientific talents and research capabilities, supported by Intellectual Property Protection regime is well set to take on the international market. ADVANTAGE IN INDIA Competent workforce: India has a pool of personnel with high managerial and technical competence as also skilled workforce. It has an educated work force and English is commonly used. Professional services are easily available. Cost-effective chemical synthesis: Its track record of development, particularly in the area of improved cost-beneficial chemical synthesis for various drug molecules is excellent. It provides a wide variety of bulk drugs and exports sophisticated bulk drugs. Legal Financial Framework: India has a 53 year old democracy and hence has a solid legal framework and strong financial markets. There is already an established international industry and business community. Information Technology: It has a good network of world-class educational institutions and established strengths in Information Technology. Globalization: The country is committed to a free market economy and globalization. Above all, it has a 70 million middle class market, which is continuously growing. Consolidation: For the first time in many years, the international pharmaceutical industry is finding great opportunities in India. The process of consolidation, which has become a generalized phenomenon in the world pharmaceutical industry, has started taking place in India. THE GROWTH SCENARIO India’s US$ 3. 1 billion pharmaceutical industry is growing at the rate of 14 percent per year. It is one of the largest and most advanced among the developing countries. Over 20,000 registered pharmaceutical manufacturers exist in the country. The domestic pharmaceuticals industry output is expected to exceed Rs260 billion in the financial year 2002, which accounts for merely 1. 3% of the global pharmaceutical sector. Of this, bulk drugs will account for Rs 54 bn (21%) and formulations, the remaining Rs 210 bn (79%). In financial year 2001, imports were Rs 20 bn while exports were Rs87 bn. The above graph shows the percentage of pharmaceutical products export by various countries. (SOURCE Competitiveness of the Indian pharmaceutical industry in the new product patent regime a report by FICCI) RESEARCH AND DEVELOPMENT Drug discovery is the process by which potential drugs are discovered or designed. In the past most drugs have been discovered either by isolating the active ingredient from traditional remedies or by serendipitous discovery. Modern biotechnology often focuses on understanding the metabolic pathways related to a disease state or pathogen, and manipulating these pathways using molecular biology or Biochemistry. A great deal of early-stage drug discovery has traditionally been carried out by universities and research institutions. Drug development refers to activities undertaken after a compound is identified as a potential drug in order to establish its suitability as a medication. Objectives of drug development are to determine appropriate Formulation and Dosing, as well as to establish safety. Research in these areas generally includes a combination of in vitro studies, in vivo studies, and clinical trials. The amount of capital required for late stage development has made it a historical strength of the larger pharmaceutical companies Often, large multinational corporations exhibit vertical integration, participating in a broad range of drug discovery and development, manufacturing and quality control, marketing, sales, and distribution. Smaller organizations, on the other hand, often focus on a specific aspect such as discovering drug candidates or developing formulations. Often, collaborative agreements between research organizations and large pharmaceutical companies are to explore the potential of new drug substances formed The cost of innovation Drug discovery and development is very expensive; of all compounds investigated for use in humans only a small fraction are eventually approved in most nations by government appointed medical institutions or boards, who have to approve new drugs before they can be marketed in those countries. Each year, only about 25 truly novel drugs (New chemical entities) are approved for marketing. This approval comes only after heavy investment in pre-clinical development and clinical trials, as well as a commitment to ongoing safety monitoring. Drugs which fail part-way through this process often incur large costs, while generating no revenue in return. If the cost of these failed drugs is taken into account, the cost of developing a successful new drug (New chemical entity or NCE), has been estimated at about 1 billion USD. A study by the consulting firm Bain ; Company reported that the cost for discovering, developing and launching (which factored in marketing and other business expenses) a new drug (along with the prospective drugs that fail) rose over a five year period to nearly $1. 7 billion in 2003. These estimates also take into account the opportunity cost of investing capital many years before revenues are realized (see Time-value of money). Because of the very long time needed for discovery, development, and approval of pharmaceuticals, these costs can accumulate to nearly half the total expense. Some approved drugs, such as those based on re-formulation of an existing active ingredient (also referred to as Line-extensions) are much less expensive to develop. The consumer advocacy group Public Citizen suggests on its web site that the actual cost is under $200 million, about 29% of which is spent on FDA-required clinical trials. For me-too-drugs and for generics, the cost are even less. Calculations and claims in this area are controversial because of the implications for regulation and subsidization of the industry through federally funded research grants. Controversy about drug development and testing There have been increasing accusations and findings that clinical trials conducted or funded by pharmaceutical companies are much more likely to report positive results for the preferred medication. In response to public outcry about specific cases in which unfavorable data from pharmaceutical company-sponsored research was suppressed, the Pharmaceutical Research and Manufacturers of America have published new guidelines urging companies to report all findings and limit the financial involvement in drug companies of researchers. As a result of this public outcry and Pharma response the US congress signed into law a bill which requires phase II and phase III clinical trials to be registered by the sponsor on the NIH website Drug researchers not directly employed by pharmaceutical companies often look to companies for grants, and companies often look to researchers for studies that will make their products look favorable. Sponsored researchers are rewarded by drug companies, for example with support for their conference/symposium costs. Lecture scripts and even journal articles presented by academic researchers may actually be ‘ghost-written’ by pharmaceutical companies. Some researchers who have tried to reveal ethical issues with clinical trials or who tried to publish papers that show harmful effects of new drugs or cheaper alternatives have been threatened by drug companies with lawsuits. Product approval in the US In the United States, new pharmaceutical products must be approved by the FDA as being both safe and effective. This process generally involves submission of an Investigational new drug filing with sufficient pre-clinical data to support proceeding with human trials. Following IND approval, three phases of progressively larger human clinical trials may be conducted. Phase I generally studies toxicity using healthy volunteers. Phase II can include Pharmacokinetics and Dosing in patients, and Phase III is a very large study of efficacy in the intended patient population. A fourth phase of post-approval surveillance is also often required due to the fact that even the largest clinical trials cannot effectively predict the prevalence of rare side-effects. Post-marketing surveillance ensures that after marketing the safety of a drug is monitored closely. In certain instances, its indication may need to be limited to particular patient groups, and in others the substance is withdrawn from the market completely. Questions continue to be raised regarding the standard of both the initial approval process, and subsequent changes to product labeling (it may take many months for a change identified in post-approval surveillance to be reflected in product labeling) and this is an area where congress is active. The FDA provides information about approved drugs at the Orange Book site. In the UK, the British National Formulary is the core guide for pharmacists and clinicians. Orphan drugs There are special rules for certain rare diseases (â€Å"orphan diseases†) involving fewer than 200,000 patients in the United States, or larger populations in certain circumstances. Because medical research and development of drugs to treat such disease s is financially disadvantageous, companies that do so are rewarded with tax reductions, fee waivers, and market exclusivity on that drug for a limited time (seven years), regardless of whether the drug is protected by patents. Industry revenues For the first time ever, in 2006, global spending on prescription drugs topped $643 billion, even as growth slowed somewhat in Europe and North America. The United States accounts for almost half of the global pharmaceutical market, with $289 billion in annual sales followed by the EU and Japan. Emerging markets such as China, Russia, South Korea and Mexico outpaced that market, growing a huge 81 percent. US profit growth was maintained even whilst other top industries saw slowed or no growth. Despite this, â€Å".. he pharmaceutical industry is — and has been for years — the most profitable of all businesses in the U. S. In the annual Fortune 500 survey, the pharmaceutical industry topped the list of the most profitable industries, with a return of 17% on revenue. † Pfizer’s cholesterol pill Lipitor remains the best-selling drug in the world for the fifth year in a row. Its annual sales were $12. 9 billion, more than twice as much as its closest competitors: Plavix, the blood thinner from Bristol-Myers Squibb and Sanofi-Aventis; Nexium, the heartburn pill from AstraZeneca; and Advair, the asthma inhaler from GlaxoSmithKline. IMS Health publishes an analysis of trends expected in the pharmaceutical industry in 2007, including increasing profits in most sectors despite loss of some patents, and new ‘blockbuster’ drugs on the horizon. Teradata Magazine predicted that by 2007, $40 billion in U. S. sales could be lost at the top 10 pharma companies as a result of slowdown in RD innovation and the expiry of patents on major products, with 19 blockbuster drugs losing patent. STEPS TO STRENGTHEN THE INDUSTRY Indian companies need to attain the right product-mix for sustained future growth. Core competencies will play an important role in determining the future of many Indian pharmaceutical companies in the post product-patent regime after 2005. Indian companies, in an effort to consolidate their position, will have to increasingly look at merger and acquisition options of either companies or products. This would help them to offset loss of new product options, improve their RD efforts and improve distribution to penetrate markets. Research and development has always taken the back seat amongst Indian pharmaceutical companies. In order to stay competitive in the future, Indian companies will have to refocus and invest heavily in RD. The Indian pharmaceutical industry also needs to take advantage of the recent advances in biotechnology and information technology. The future of the industry will be determined by how well it markets its products to several regions and distributes risks, its forward and backward integration capabilities, its RD, its consolidation through mergers and acquisitions, co-marketing and licensing agreements. INTRODUCTION TO EASTERN MEDIKIT LTD COMPANY PROFILE â€Å"A company empowered by one mission –to place itself on the world map. An enterprise propelled by one force-that synergizes its energies to charter unexplored markets. Organizations fuelled by one dream-to transform competition into opportunity. † Eastern Medikit Ltd Laboratories Ltd. was incorporated in June 1961, in the name of M/S LEPITIT EASTERN MEDIKIT LTD LABORATORIES LTD and it commenced its business in MARCH 1962, in technical and financial collaboration with an international company named LEPTIT SPA, MILAN, ITALY. Eastern Medikit Ltd Laboratories Pvt. Ltd. merged with â€Å"Leptit Eastern Medikit Ltd Laboratories Pvt. Ltd. † in 1962 Eastern Medikit Ltd and company also merged with this company in 1966. The collaboration arrangement with M/S LEPTIT was terminated in 1966; after which Indian nationals acquired the entire share capital of the company. Therefore the word Leptit was removed from the name of the company. The name is known as EASTERN MEDIKIT LTD LABORATORIES LIMITED. In 1973 the company issued shares to the general public and became a full fledged PUBLIC LIMITED COMPANY. Today, Eastern Medikit Ltd has emerged as a Leading Pharmaceutical Company on the Indian firmament, with the second largest market share and enjoys an enviable reputation for its high standard of ethics and quality around its core strength of anti-infective, it has produced new brands in emerging therapeutic areas like cardiovascular, central nervous system and nutritional. supporting this expansion, the company has invested in world class manufacturing infrastructure that leverages India’s comparative cost advantage and skilled manpower, while delivering international quality. The company’s drive for Internationalism is guided by the well planned brand strategy that covers some of the world emerging markets like China, cis, Central Europe and Latin America . Its position today is in league of the Top Ten Pharmaceutical companies of three world an decent ranking as the eleventh largest company in the international generics space is the resounding endorsement of its strategic mind. It is clear that for a long time, the dominant share of revenues of the company would continue to come from the ever expanding global generics market. Hence the intent of Eastern Medikit Ltd mission is to achieve a sustained growth rate through the continuous pursuit of innovation phase one trials for pervasion, a compound for treating prosthetic males have been completed. Phase 1 trials with clafrinast, an asthma compound is an important step towards research based value creation. This company also had success with Ciplofloxacine, an ingenious form, created through the novel drug delivery systems research. As the demand of the bulk drugs inside the country and abroad was increasingly rapidly a new, plant was set up at Toansa near Ropar in 1987. This was a higher capacity plant designed to cater to the present and future needs, initially antibiotics like Ampicillin, Trihydrate and Doxycycline were manufactured. Later, on the other drugs like Cephalexin monohydrate and Ranitidine were also prepared. The plant at Toansa was designed to meet the stringent standards set by the Food and Drug Administration (FDA) of U. S. A. This plant has been approved by FDA and this will open up American and other newer markets for Eastern Medikit Ltd’s products At present Eastern Medikit Ltd have four plants for the manufacture of bulk drugs two at Mohali, one at Dewas (M. P) AND Another at Toansa near ROPAR. At present, Eastern Medikit Ltd is the second most Indian company engaged in the manufacturing of Pharmaceuticals, Bulk Drugs and Fine Chemicals. EASTERN MEDIKIT LTD’s vast range of highly pure laboratory reagent and chemicals enjoy a place of pride in the market. IT trends, has rebuilt As a step towards leveraging information for value creation using its information backbone around an ERP application, along the focus on reengineering several business processes around the internet and has putting place business solutions that challenge existing ways of doing Business. The undying spirit of the company’s human assets and their intensive competitive and entrepreneurial energy has played a great part in transforming the company into a multicultural and multiracial team. Today, Eastern Medikit Ltd is the largest exporter accounting for 12% of the industry exports pharmaceutical substance and dosages forms to over 50 countries with the internationals sales comprising of 45% of the total turnover. VISION: GARUDA During the year 2002, the company has evolved a 10-year vision till 2012, for sustaining significant growth consistent with its mission to be an international research based Pharmaceutical Company, under the rubric ‘Vision Garuda’, with increasing emphasis on Novel Drug Delivery Systems Research (DDR). In licensing and out licensing, relationship with other important pharmaceutical entities, expansion of manufacturing facilities both in India and strategic overseas locations, revamping of organizational structures to cater to the wider and more dispersed span of operations, and streamlining and standardizing the business processes through out the global organization, are other areas that receive focus and attention of management on priority. Mission â€Å"To become a Research based International pharmaceutical company† Vision-2012 Achieve significant business in Proprietary prescription products By 2012 With a strong presence in developed markets Aspirations-2012 Aspire to be a$5 billion company Become a Top 5 global generics player Significant income from Proprietary products BOARD OF DIRECTORS At the helm entire operations is the experience and able direction of the people who make it all happen. Eastern Medikit Ltd acknowledges their inspiring stewardship and indefatigable work. * Mr. Tejendra Khanna(Chairman) * Mr. D. S. Brar (CEO $ Managing Director) * Mr. V. K. Kaul (Whole Time Director) * Dr. Brian Tempest (Whole Time Director) * Mr. Surendera Daulet Singh * Mr. Harpal Singh * Mr J. W. Balani * Mr. N. Kampani * Mr. V. Bharat Ram * Mr. Vivek Mehra Mr. Tejendra Khanna Mr. Tejendra Khanna was elected Chairman at a meeting of the Board of Directors of Eastern Medikit Ltd Laboratories Limited held at New Delhi, on July 5, 1999. Mr. Khanna, former Commerce Secretary to the Government of India, and a former Lieutenant Governor of Delhi is widely regarded as an expert in International Trade and Public Administration. Mr. D. S. Brar He was instrumental in developing the Pharmaceutical exports business of the company in early 80’s, which later became synonymous with major growth and expansion of company’s portfolio. In addition to the International business, he looked after the Animal Healthcare OTC businesses of the company. In 1986, he took over the Pharma business in India along with Chemical Manufacturing Operations. In early 90’s he led the company’s expansion into overseas markets creating joint ventures, affiliates and subsidiaries in major countries like China, Russia, U. K. , South Africa and the USA. In 1996, he took over as the President of the company. Mr. V. K. Kaul Graduated in 1964 (B. Sc. Hons, Physics) from Ramjas College, University of Delhi, Mr. V. K Kaul joined the Institute of Chartered Accountants of India F. C. A. He is recognised in the industry for his vast experience and variegated knowledge. Dr Brian W. Tempest Dr Tempest joined Eastern Medikit Ltd as Regional Director- Europe, CIS Africa in 1995 and subsequently took charge of Eastern Medikit Ltd’s worldwide pharmaceuticals business as President-Pharmaceuticals in the year 2000. In July 2001 he was appointed on the Board of Directors of Eastern Medikit Ltd. Dr. Tempest, 54, has worked in the Pharmaceutical Industry for 28 years, bringing in a wealth of global pharmaceutical experience and expertise. He has worked with leading multi-national companies across several international markets including USA, Japan, Europe, China and other countries in Africa and Asia-Pacific. His unique combination of experience with both research-based and generic companies will be an asset in driving the company’s growth in times ahead. Dr. Tempest is a Bachelor of Science with Honors from Aston University, specializing in Chemistry. He followed it up with a PhD in Polymer Chemistry from Lancaster University. Mr. Malvinder Mohan Singh Mr. Malvinder Mohan Singh is an Honors Graduate in Economics from Delhi University followed by a Masters Degree in Business Administration from Duke University, USA. He started his career with the American Express Bank and joined Eastern Medikit Ltd in May 1998. After holding several positions in the Company, has been appointed as â€Å"President Pharmaceuticals and Whole-time Director†, Eastern Medikit Ltd Laboratories Limited effective January 1, 2004 OPERATING JOINT VENTURES AND SUBSIDIARIES BRAZIL:Eastern Medikit Ltd S. P. Medicamentos Ltd. CHINA:Eastern Medikit Ltd (Guangzhou China) Ltd. EGYPT:Eastern Medikit Ltd Egypt Ltd. GERMANY: Basics Gmb H. HONG KONG:Eastern Medikit Ltd (Hong Kong) Ltd. INDIA:Rexcel pharmaceuticals Ltd. , Solus pharmaceuticals Ltd. , Vidyut Travel Services ltd. IRELAND:Eastern Medikit Ltd Ireland Ltd. MALAYSIA:Eastern Medikit Ltd (Malaysia) Sdn. Bhd. NETHERLANDS:Eastern Medikit Ltd Pharmaceuticals B. V. NIGERIA:Eastern Medikit Ltd Nigeria Ltd. PANAMA:Eastern Medikit Ltd Panama SA. POLAND:Eastern Medikit Ltd Poland Sp. Zo. SOUTH AFRICA:Eastern Medikit Ltd (SA) (Pty. ) Ltd. THAILAND:Unichem pharmaceuticals LTD. , Unichem Distributors Ltd. Part, Eastern Medikit Ltd Unichem CO. Ltd. U. K:Eastern Medikit Ltd (UK) Ltd USA: Eastern Medikit Ltd pharmaceuticals Inc. Ohm Laboratories Inc. , Eastern Medikit Ltd Schein Pharma, LLC VIETNAM: Eastern Medikit Ltd Vietnam Company Ltd. ALLIED BUSINESSES Eastern Medikit Ltd Animal Health The Animal Health division saw an encouraging growth despite the prevailing poor market conditions. The division grew at twice the growth rate recorded in the industry. On the basis of having a vast dome satiated animal population, the livestock, poultry business and pets business are among the fastest growing sectors in India. A vast infrastructure of veterinary colleges, agricultural institutes, technologists and researchers are helping farmers to source healthy, cost effective products. In conjunction with the present scenario, the AHC division of Eastern Medikit Ltd Laboratories Limited has introduced several latest generation products. Eastern Medikit Ltd Fine Chemicals Limited (RFCL) The division ranked 4th in the industry and captured 11% market share. RANKEM is established as a powerful brand, RFCL’s brand for its range of Reagents is now synonymous with excellence in reagents and fine chemicals in the country. The focus of business remains on developing extensive customer relations; enhancing service levels and enriching the product mix with the help of a qualified and competent marketing and sales team Diagnostics The diagnostics division has aggressively focused on market expansion activities based on strategy of reliability, quality products and efficient service. Introduction of products in ‘Point of Care’ markets has expanded market presence and over the next 1 – 2 years this segment will see considerable expansion in line with world trends. The Dade Behring segment has increased its installation base by 60% in leading hospitals and laboratories. Plans are afoot for the introduction of more parameters for the ‘Point of Care’ market and the launch of Special Chemistries, a range of drug assays, plus an entry into automated microbiology in both the Base and Dade Behring business areas. The company has also witnessed significant milestones in the area of Novel Drug Delivery Systems (NDDS). The company has entered into strategic business arrangements with companies such as Bayer AG, Glaxo-Wellcome, Eli-Lilly etc. for production and co-marketing operations. Many innovative developments have been taking place in recent times. The company’s research team is capable of developing one NDDS product every 12 to 18 months. Also, two new products: Roletra-D and Altiva-D, will soon be launched in India. In order to expand and promote global growth, the company opened several new markets during the year, notably in Brazil, where 25 filings were undertaken in a span of 2-3 months. The company has planned to build and protect intellectual property with the help of IPC, which addresses all matters pertaining to patents. CQA supervises the implementation of standard operating procedures (SOP) and ensures compliance to corporate quality assurance policy in all technological operations of the organization. The company is committed to invest 6% of the sales in R and D by 2003, of which 7% of the expenditure will be earmarked for research on New Drug Discovery and Novel Drug Delivery Systems. There will be continuous emphasis on augmenting R and D performance and productivity with advanced scientific and technological tools. VALUES OF EASTERN MEDIKIT LTD LABORATORIES LIMITED 1. Achieving customer satisfaction is fundamental to their business. 2. Practice dignity and equity in relationships and provide opportunities for people to realize their full potential. 3. Ensure profitable growth and enhance wealth of shareholders. 4. Foster mutually beneficial relationships with all their business partners. 5. Manage their operations with concern for safety and environment. 6. Be a responsible corporate citizen. OBJECTIVES OF EASTERN MEDIKIT LTD LABORATORIES LTD. 1. To be a leader in the Pharmaceutical industry. 2. To be a profitable company with a steady growth in earnings. 3. To set an example as a socially responsible company. 4. To diversify in health care related areas. 5. To strive for excellence and continuous improvement in all spheres. 6. To improve the quality of life of people by providing better services and quality products. Environment, Health and Safety [EHS] Caring for the Environment is a core corporate value and as a part of this commitment. The Company enunciated its EHS policy in 1993. The Company’s EHS policy provides for the creation of a safe and healthy workplace and a clean environment for employees and the community. It aims at higher international standards in plant design, equipment selection, maintenance and operations. The policy seeks to manufacture products safely and in an environmentally responsible manner. The implementation of the EHS Policy is ensured by institutionalizing a robust EHS Management system, adequately supported by well defined organizational structure. As a part of EHS processes at the corporate level, besides laying down guidelines on systems, policy and training, the corporate EHS office monitors compliance, maintains and disseminates information on laws and regulations. EHS performance review meetings are held on regular basis to monitor the progress against agreed EHS improvement plans. Close cooperation between all units and individuals is the key to maintaining high standards of environment protection and safety in all the plants. The key processes at location level comprise of regular safety surveillance, inspections audits, Permit to work system for operational / maintenance safety, Fire prevention protection activities, operation of the ETP/Incinerator, disposal activities related to hazardous wastes, regular monitoring of the environment internally and also through approved laboratories. Monthly reports address EHS initiatives, compliance various records under the statutory requirement, training of employees including contract employees on EHS awareness, interaction with the residential associations/nearby community etc. celebration of National safety day, fire day, Environment day etc. for EHS awareness among employees. The manufacturing facilities for bulk drugs and dosage forms comply with the stringent requirements of Good Manufacturing Practices (GMP) and Good Laboratory Practices (GLP) and are approved by International health and regulatory Agencies like FDA – USA, MCA – UK, WHO etc. These practices and approvals ensure that an effective framework is always in place, not only for manufacture of high quality products, but also for effective use of resources and reduction of wastes as well as high safety hygiene standards. Eastern Medikit Ltd has made significant improvements in process safety of the existing manufacturing facilities by providing extensive instrumented safety protection systems. The intended safety features are incorporated in the basic design of the new projects. Investments have been made on process improvements as well as effluent treatment plant up-gradation using the latest membrane based technology, multi-effect thermal evaporation system and state-of-the-art Incinerator. These investments have helped to reduce discharges of contaminants into the environment. With the facilities installed at Toansa for recycling of the treated effluent, the site has achieved the status of â€Å"zero discharge site†. The Company also engages with the concerned authorities and industry in devising responsible laws, regulations and standards and thus making safety, occupational health environmental information and expertise available to its employees and the community at large. Eastern Medikit Ltd has made EHS concerns and practices a necessary factor in appraising its employee performance. The Company also accords a very high priority to hygiene monitoring at work place and health assessment of all employees at site. The plant and processes are continuously upgraded to improve hygiene and health standards. Necessary training is imparted to the employees to enhance their awareness towards health related matters. Safety knowledge of the employees is constantly updated through various external and in-house training programs, including special training programs by overseas experts consultants. Moving up the value chain, the company identified Consumer Healthcare as its new business area in the year 2001. Eastern Medikit Ltd Global Consumer Healthcare (RGCH) was launched in October 2002 with a portfolio of 4 switch brands: Revital, Pepfiz, Gesdyp Garlic Pearls. Since these brands were already popular amongst consumers and represented the leading common ailment categories like VMS (Vitamins Minerals Supplement), this portfolio was carefully created for the introduction of RGCH to the Indian market. Subsequently in 2004, RGCH launched its first herbal range of products through New Age Herbals (NAH) with products offering remedy in categories of Cough Cold (Olesan Oil Cough Syrups) and Appetite Stimulant (Eat Ease). VARIOUS DIVISIONS OF EASTERN MEDIKIT LTD LABORATORIES LTD. 1. Chemical Division 2. Diagnostic Division 3. Stan care Division 4. Curradia Division 5. International Division 6. Pharmaceutical Division 7. Technical Division 8. Corporate Division 9. Animal Health Care Division DIVISIONS IN VARIOUS GEOGRAPHICAL AREAS 1. India and Middle East 2. Europe, CIS and Africa 3. Asia Pacific and Latin America 4. North America JOINT VENTURE OF THE COMPANY. 2000Eastern Medikit Ltd files IND Application for Asthma Molecule- RBx4638, after successful completion of pre-clinical studies. Eastern Medikit Ltd acquires Bayer’s Generics business (trading under the Name of Basics) in Germany. Eastern Medikit Ltd forays into Brazil, the largest pharmaceutical market in South America and achieves global sales of U. S. $ 2. 5 million in this market. 2001Eastern Medikit Ltd took a significant step forward in Vietnam by initiating the Setting up of a new manufacturing facility with an investment of U. S. $ 10 million. Eastern Medikit Ltd achieved a turnover of U. S. $ 502 million for the year 2002 and moved closer to achieving a target of 1 billion dollar by 2004. 2002Receives approval from FDA to market Midazolam Hydrochloride Syrup 2 Mg base/ ml. Eastern Medikit Ltd receives and approval from FDA to manufacture and market Cefpodoxime Proxetil for Oral Suspension, Lisinopril + Hydrochlorothiazide Tablets Us, Terazosin Hydrochloride Capsules and Amoxcillin Oral suspension USP. Heralding the company’s entry into the Indian OTC market. 003Eastern Medikit Ltd received the economic times award for corporate excellence-for the company for year. Eastern Medikit Ltd signed an agreement toacquire RPG(aventis) SA along with its fully owned subsidiary,OPIH SARL,in france 2004 Eastern Medikit Ltd launched its first range of herbal projects. 2005 Acquisition of additional stake in Eastern Medikit Ltd Farmaceutica Ltda. , Brazil Eastern Medikit Ltd announced the acquisition of Be-Tabs P harmaceuticals (Pty) Limited 2008Acquired by the Japanese giant, the $9. 62 billion Daiichi Sankyo, ranked No. in Japan BRIEF INTRO OF EASTERN MEDIKIT LTD PLANTS IN INDIA In the chemical division, various bulk drugs are manufactured. The chemical division had three units in Punjab. One is located at Toansa, two are located at Mohali and one unit is located at Dewas near Indore in Madhya Pradesh, where Ciprofloxacine is manufactured. In the plant of the chemical division, various drugs like Antibiotics, Anti-malarial, Antibacterial and Anti-ulcer are manufactured. One of the older plants of Eastern Medikit Ltd was closed after the accident in June 2003. he second one is still working The 1991, the Toansa plant started functioning in 1992 and the Dewas plant started functioning in 1999. Various plant heads independently manage all these plants. In each unit, separate facilities with respect to the manufacture of drugs, along with their manufacturing areas have been provided. This is r equired to reduce the chances of any cross contamination under the drug laws and to comply with good manufacturing practices. At Mohali plant, separate blocks have been provided for the preparation of each drug . The Toansa, Mohali and Dewas plants are planned in such a way that their system, facilities, manufacturing practices and standards meet the requirements of FDA. Mohali Plant also mainly in the manufacturing of Active Pharmaceutical Ingredients (API). The Plant is divided into two plant areas A8 and A9 THE VARIOUS DEPARTMENTS Human Resource Department The basic function of the human resource department in the modern corporate world is knowledge management. The HR department strives to maintain cohesiveness among employees. It also ensures interdepartmental cooperation in achieving targets. The appraisal system is also taken care by this department. The HR department delves deep into the employee’s psyche to analyze the positives and negatives of each employee, so that a proper system of delegation and / or empowerment can be evolved. Finance Department The finance department takes care of the regular financial needs of the company it ensures proper allocation of funds and takes care of the working capital requirements. It verifies capital raised by different departments and sends them for approval to the higher authorities. Stores Department The function of this department is to provide adequate and proper storage and preservation of various items to meet the demand of various other departments by proper issues and maintaining accounts of consumption. It also keeps a track of stock accumulation and abnormal consumption. Erection and Fabrication Department As the name suggests, this department identifies new projects and helps in erecting them. This department also undertakes major modifications of equipment. ERP Department ERP department helps to integrate the entire enterprise starting from the supplier to the customer, covering financial and human resources. This will enable the enterprise to increase productivity by reducing costs. It also ensures a single solution to the information needs of the whole organization. Production Department As a part of their on going commitment to produce hi-tech quality drugs and pharmaceuticals that take care of the specific needs of markets around the world, Eastern Medikit Ltd Laboratories Limited has increased the investment in the production department. It is the most important department of the company and has the following objectives: 1. Improving volume of production. 2. Reducing rejection rate. 3. Maintaining rework rate. Engineering Department This department undertakes building, construction and maintenance. Maintaining service facilities such as water, gas, heating, ventilation, air conditioning, painting and plumbing are some of the other areas dealt by this department. This department also helps in maintaining electrical equipments such as generators, transformers, telephone system and electrical installation. Purchase Department The purchase department provides material to the factory without which the wheels of machines cannot move. The various functions performed by this department include: Securing good vendor performance, including prompt deliveries of supplies of acceptable qualities. 1. To develop satisfactory sources of supply and maintaining good relationships with the suppliers. 2. To pay reasonably low prices. Quality Control/Quality Assurance Department The purpose of QC QA departments is to ensure that the desired quality standard is achieved. It also ensures that the processing or fabrication of material conforms to the specific characteristics selected, to assure that the resulting product will in fact perform its intended function. PRODUCT REVIEW Eastern Medikit Ltd’s therapeutic width covers five of the top six categories including Anti-infective, Gastrointestinal, Nutritionals, Cardiovascular, Central Nervous System, Respiratory, Dermatological and others. While anti-infective contribute 56% of the total sales, Eastern Medikit Ltd’s other brands like Simvotin and Storvas in the cardiovascular segment, Serlift in CNS and Revital and Riconia in Nutritionals, are on their way to success in multiple markets. During Jan – Dec 2000, amongst the top products of Eastern Medikit Ltd, Sporidex (Cephalexin) was the Number 1 brand, closely followed by Cifran (Ciprofloxacin). Anti – Infectives Anti- infective has been the main driver of Eastern Medikit Ltd’s sales. The important brands in this category are Cifran (Ciprofloxacin), Sporidex (Ciphalexin), Enhancin (Amoxyclav), Crixan (Clarithromycin), Vercef (Cefaclor), Oframax (Ceftriaxone), Cepodem (Cefpodoxime Proxetil), Zanocin (Ofloxacin), Ceroxim (Cefuroxime Axetil), and Loxof (Levofloxacin). Cifran (Ciprofloxacin) is the key brand in the anti- infective portfolio, with estimated sales of US $ 32 Mn, currently being marketed in 15 countries. Development of Ciprofloxacin once a day has been an important landmark achieved by Eastern Medikit Ltd. The product has been licensed to Bayer. Cifran continues to be a dominant player in the quinolones market in India, China and Russia. Sporidex is another leading brand in Eastern Medikit Ltd’s product portfolio with worldwide annual sales of US $ 35 Mn. It is available in eight different dosage forms including capsules, dry powder for suspension, redimix, dispersible tablets, paediatric drops, soft gelatin capsules, sachet and advanced formulation for twice-daily administration. It is currently marketed in 15 countries. In India, Sporidex is the leading brand with a market share of 36% of the Cephalexin segment. Keflor is available in seven different dosage forms and is the third-largest selling brand for Eastern Medikit Ltd worldwide. The dosage forms list includes capsules, dry syrup, modified release tablets, dispersible tablets, drops and redimix. Enhancin is expected to be the leading product in Eastern Medikit Ltd’s product portfolio with estimated sales of US $ 45 Mn by the year 2005. The product will be rolled out to about 20 important markets during this period. Zanocin, with approximate sales of US $ 10 Mn, is the seventh-largest contributor to Eastern Medikit Ltd’s total sales. Cepodem is currently available in three different countries outside India, and will be rolled out to 13 different countries in the near future. Cardiovasculars Cardiovascular is projected to be the second-best category for Eastern Medikit Ltd. Statins have been the key drivers for this segment. The sale of Simvastatin has grown substantially in the past few years, a trend that is likely to continue in the future. In India, Simvotin (Simvastatin) is the market leader in the cholesterol reducer segment. Another leading brand in this category is Storvas (Atorvastatin). Storvas has been one of the fastest-ever to enter the top-300 brands list of the Indian pharma industry. Other global cardiovascular brands are Covance (Losartan) and Caslot (Carvedilol). Central Nervous System The Central Nervous Segment is one of the important focus areas identified by Eastern Medikit Ltd, with Serlift being the key brand. In India, Serlift is number 1 amongst Sertraline brands. New product introductions will be drivers of growth in this category. Gastrointestinal Currently, gastrointestinal drugs are the second-largest category for Eastern Medikit Ltd. The key brands in this category include Histac and Romesac. The current annual sales of Ranitidine are estimated to be around US $ 16 Mn and the product is marketed in more than 20 countries. Rheumatologicals The first generation Cox-2 inhibitors principally drive worldwide growth in rheumatology. This category is estimated to grow exponentially for Eastern Medikit Ltd, with brands like Celecoxib. This year, Rofibax (Rofecoxib) introduced in India, has established itself as a leader in the Cox-2 inhibitor category and has overtaken all Celecoxib brands. It has been identified as a key Global brand for the future. Nutritonals Nutritionals have been a major contributor to Eastern Medikit Ltd’s sales. Two of the important products in this category are Revital and Riconia. With annual sales estimated at about US $ 10 Mn, Revital contributes a significant share of total sales. It is a leading brand in India and has done exceedingly well in some parts of the world as an OTC product. Dermatologicals The dermatology category is mainly driven by India region and is likely to show a good growth pattern in the future. Some of the key brands doing well in this segment are Mobizox, Silverex, Moisturex, etc. INTRODUCTION TO CAPITAL STRUCTURE THEORY AND ANALYSIS This is a Report on the ‘Capital Structure and Capital Expenditure of Eastern Medikit Ltd Laboratories Ltd. ’. The purpose and scope of the project can be listed as: * Understanding the organizational structure and functioning of Eastern Medikit Ltd Laboratories Ltd. * Analysing and comparing the financial health of the firms in the Indian Pharma Industry. * Identifying and analysing the capital structure of Eastern Medikit Ltd. * Conducting a Review of the Capital Expenditure done at Eastern Medikit Ltd Laboratories Ltd. Identifying loopholes in the functioning and in the area of study and recommending the suggestions for the same. Following are the limitations of the study: * Balance sheets of only 3 years have been studied but the company is in operation for so many years. * Only specific tools (i. e. ratio analysis) have been used for data analysis, while so many other tools are also there. * Organizational rules regulations. * Availability of data. Financial figures for 2008 of Eastern Medikit Ltd were not available. * Limitations of the financial tools used. Methodology The methodology adopted for the study was as follows: * Familiarization, examination and evaluation of the procedures relating to capital structure and capital expenditure. * Collection of relevant data form company records and cross checking of this data. * Calculations of financial ratios, parameter and norms, as also their financial implications. Broadly the data were collected for the report on the project work has been through the primary and secondary sources. The primary data is collected by various approaches so as to give a precise, accurate, realistic and relevant data. The main goal in the mind while gathering primary data was investigation and observation. The ends were thus achieved by a direct approach and personal observation from the officials of the company. The other staff members and the employees were interviewed for the sake of maintaining reasonable standard of accuracy. The secondary data as it has always been important for the completion of any report provides a reliable, suitable equate and specific knowledge. The annual reports, the fixed asset register and the Capex register provided the knowledge and information regarding the relevant subjects. The valuable cooperation and continued support extended by all associated personnels, head of the department, division and staff members contributed a lot to fulfil the requirement in the collection of data in order to present a complete report on the project work. Capital Structure: Theory and Analysis Capital Structure Financing decisions involve raising funds for the firm. It is concerned with formulation and designing of capital structure or leverage. The most crucial decision of any company is involved in the formulation of its appropriate capital structure. The best design or structure of the capital of a company helps the management to achieve its ultimate objectives of minimising overall cost of capital, maximising profitability and also maximising the value of the firm. The capital structure decision of a firm is concerned with the determination of debt equity composition. Capital structure ordinarily implies the proportion of debt and equity in the total capital of a company. The term capital may be defined as the long – term funds of the firm. Capital is the aggregation of the items appearing on the left hand side of the balance sheet minus current liabilities. In other words capital may be expressed as follows: Capital = Total Assets – Current Liabilities. Further, capital of a company may broadly be categorised into equity and debt. The total capital structure of a firm is represented in the following figure: Established companies generally have track record of their profit earning capacity, which helps them to create their creditworthiness. The lenders feel safe to invest their funds in such companies. Thus, there is ample scope for this type of companies to collect debt. But a company cannot freely i. e. without having any limit. The company must have to chalk out a plan to collect a debt in such a way that the acceptance of debt becomes beneficial for the company in terms of increase in EPS, profitability and value of the firm. If the cost of capital is greater than the return, it will have an adverse effect on company’s profitability, value of the firm and its EPS. Similarly, if company is unable to repay the debt within the scheduled period it will affect the goodwill of the company in the credit market and consequently may create problems in future for collecting further debt. Other factors remaining constant, the company should select its appropriate capital structure with due consideration. Capital structure involves a choice between risk and expected return. The optimal capital structure strikes the balance between these risks and returns and thus examines the price of the stock. Significant variations with regard to capital structure can easily be noticed among industries and firms within the same industry. So it is difficult to generate the model capital structure for all business undertakings. The following is an attempt to consolidate the literature on various methods to suggested by researchers in arriving at optimal capital structure. Notations used: * V = value of firm * FCF = free cash flow * WACC = weighted average cost of capital * rs and rd are costs of stock and debt * re and wd are percentages of the firm that are financed with stock and debt. Operating and Financial Leverages The term leverage refers to the ability of a firm in employing long – term funds having a fixed cost, to enhance returns to the owners. In other words everage is the employment of fixed assets or funds for which a firm has to meet fixed costs or fixed rate of interest obligation irrespective of the level of activities attained or the level of operating profit earned. Higher the leverage, higher the profits and vice – versa. But a higher leverage obviously implies higher outside borrowings and hence riskier if the business activity of the firm suddenly takes a dip. But a low le verage does not necessarily indicate prudent financial management, as the firm might be incurring an opportunity cost for not having borrowed funds at a fixed cost to earn higher profits. Operating Leverage Operating leverage is concerned with the operation of any firm. The cost structure of any firm gives rise to operating leverage because of the existence of fixed nature of costs. This leverage relates to the sales and profit variations. Operating Leverage =| Contribution| | EBIT| Contribution = Sales – Variable Costs EBIT = Earnings Before Interest and Taxes. Disadvantages of Operating Leverages * The reliability of operating ratios rests to a large extent on the correctness of the fixed costs identified with a product. Faulty apportionment would distort the usefulness of the ratio. The published accounts does not give details of the fixed cost incurred and the contribution from each product and for an outsider it is difficult to calculate the firm’s operating leverage. Firm’s cost structure and nature of the firm’s business affects operating leverage. A degree change in sales volume results in more than proportionate change (+/-) in ope rating (or loss) can be observed by use of operating leverage. Financial Leverage This ratio indicates the effects on earnings by rise of fixed cost funds. It refers to use the use of debt in the capital structure. Financial leverage arises when a firm deploys debt funds with fixed charge. The ratio is calculated with the following: * Earnings before interest and tax / Earnings after interest – The higher the ratio, the lower the cushion for paying interest on borrowings. A low ratio indicates a low interest outflow and consequently lower borrowings. A high ratio is risky and constitutes a strain on profits. This ratio is considered along with the operating ratio, gives a fairly and accurate idea about the firm’s earnings, its fixed costs and the interest expenses on long term borrowings. Earnings per Share – Higher financial leverage leads to higher EBIT resulting in higher EPS, if other things remain constant. Financial leverage affects the variability and expected level of EPS. The more debt the firm employs the higher its financial leverage. Financial leverage generally raises expected EPS, but it also increases the riskiness of securities as the debt / asset ratio rise s. Financial Leverage =| EBIT| | EBT| EBIT – Ea How to cite A Global Overview of a Fast Relief Market, Papers

Strategies to Decrease the Duration of Indwelling Urethral Catheters

Question: Identify the facts, data, or resources the author uses to support his/her argument? Answer: 1. The important information: Patient found catheter to be uncomfortable as they caused psychological distress and physiological problems such as bladder inflammation and catheter associated urinary tract infections. About 80% of the infections are associated with catheter. Long term effect of catheter associated urinary tracts infections are sepsis and even death. A study demonstrated the proper use of catheter and its maintenance (Rhodes, 2012). His study focused on the use of sterile equipment, cleaning of perianal area and proper washing of hands before insertion of catheter. placing catheter tube and bag below the bladder will prevent clogging of tube. Evidences showed that the use of multiuse lubricant instead of single tube for inserting catheter, as this will prevent CAUTI. In a study of Bernard 2012, it was evidenced that about 13000 deaths annually were associated with catheter infections. Various steps were implemented to minimize risk of CAUTI, as nurses should be aware of the procedure of maintenance of catheter and should be well trained. According to observational cohort study demonstrated that taking bath from 2% chlorhexidine gluconate, significantly reduce the risk of central line blood stream infections, surgical site infection, MRSA and VRE, which are causes of CAUTI (Carter, N.M., 2014). The article concluded that the use of indwelling catheter should be based on necessity not on convenience, as it is convenient in incontinent patients, but this is not evidence based reason. Alternatives to indwelling catheter should be provided so that risk associated with catheter infections can be minimized. Nurses should have authority to remove catheter without permission of prescribers as soon as patient meet the removal standards. Nurses should be well trained and aware with proper maintenance of catheter. References: 1. Bernard, M.S., Hunter, K.F., Moore, K.N. (2012). A review of strategies to decrease the duration of indwelling urethral catheters and potentially reduce the incidence of catheter-associated urinary tract infections. Urol Nurs. Vol. 32, No. 1, pp: 29-37. 2. Carter, N. M., Reitmeier, L., Goodloe, L. R. (2014). An evidence-based approach to the prevention of catheter-associated urinary tract infections. Urologic Nursing. Vol. 34, No. 5, pp: 238-241.

Leadership Practical Booth

Question: Determine how the practice of OB must be redesigned and realigned in multiethnic/multicultural contexts to ensure cultural appropriateness and to achieve organisational effectiveness. Answer: Leadership is booth of the practical skill as well as the research area about the capability of an organization or an individual for guiding as well as leading other teams, individuals or the entire organizations (Bass, 2015). On the other hand, the simple term, Diversity actually refers to the difference variety among people in a particular company (Pieterse, Van Knippenberg Van Dierendonck, 2013). However, both of the two terms have a significant as well as a crucial relationship between them in terms of the organizational culture (Bass Avolio, 2013). Australia is such a country which has the most culturally diverse workforces all over the world. Nevertheless, the cultural differentiations often result into some conflicts those are caused by the ineffectiveness interaction as well as the enhancing ethical and moral degradation at the organizational workplaces continue to the consequences of developing concern (Northouse, 2015). In addition, the labour power may force the employme nt relationship improvement and call for the different types of leaderships as the workforces become more multigenerational as well as diverse (Daft, 2014). Therefore, this particular study is mainly aimed to identify as well as analyze critically and discuss the challenges incorporated in communication that a leader would expect for encountering in relation to the cultural diversity of several organizations in Australia. Therefore, this study also focuses on the critical discussion of how the leaders can resolve the ethical consequences in relation to the cultural diversity in several companies in Australia. At last, this study also aims to discuss synthesis as well as identify an optimal mix of the leadership styles that can be associated with the way of managing the cultural diversity in the organizational workplaces. Moreover, these should be flexible sufficiently as well as capable to be adopted appropriately in the organizations in Australia. Communication Challenges in Australian Organizations Every leader has to face several challenges or problems as it is not easy always for working through the others for getting the outcomes that a leader require (Avolio and Yammarino, 2013). Managing the poor performance inside the workplace of an organization always is one of the most difficult challenges for a leader for facing but then again, so is managing the poor outcomes (Dubrin, 2015). The communication involves the message transmission from a sender to the receiver. Communication is the key factor for the leaders in order to create effectiveness in an organization as well as survival of an organization. In other words, communication is the most effective as well as significant key for getting success by a leader in an organization (Frohlich Oppenheimer, 2015). In a small business the effective leadership needs knowing how for communicating with all of organizational elements, incorporating the leaders. The Leaders of an organization should have the knowledge regarding the proper communication style that is appropriate for the leadership. They must be capable of adapting based on the group they are interacting with at the time (Chhokar, Brodbeck, House, 2013). The skills of effective communication are an important as well as a significant aspect of the portfolio of the experience as well as skills of any leader (Ubben, Hughes Norris, 2015). However, in reality the problem is that many of the leaders do not have the knowledge as well as the proper concept of the effective communication with the help of which they can create an excellent communication system with the employee for making an exclusive and significant coordination in the workplace (Hargreaves Fink, 2012). Australia has the most diverse workplaces in the organizations located in that country. Therefore, the organizations in Australia are always aware of as well as concerned about the issues or the challenges faced by t he leaders. In order to mitigate the challenges faced by the leaders while making communication within the workplaces of the organizations, it is required to identify as well as discuss what are the significant issues or challenges those must be eliminated in order to bring a clear and well-structured diversity within the organisational workplace (Chemers, 2014). Leaders are unable for exchanging the details important to the regular activities or the operations of the leaders and make a network of communication for carrying new data of product. Therefore, the communication challenges as well as the issues faced by the leaders in the workplaces of the Australian organizations mainly prevent effective leadership (Tannenbaum, Weschler Massarik, 2013). Therefore, ultimately, the important operations of the organization are hampered due to the inactiveness of the leaders in terms of their ineffective communication with their subordinates as the leaders have the supreme authority or they should have the potential to manage a huge number of employees who are working under his instructions. Therefore, the challenges should be identified properly (Rice, 2013). There are several important challenges those must be identified, discussed as well as analyzed in order to overcome the issues. Potential to recognize the employee Achievements Identification It has often been seen that the many leaders are unsuccessful to recognize the achievements or the potential to achieve a certain milestone in an organizational workplace (Kang, 2015). It is a very crucial problem that can be identified as the result of the poor communication capability of a particular leader. Discussion and Analysis As per the statistics provided in the figure given above, it can be said that it is the most effective as well as the most crucial challenge for the leaders. It has often been seen that most of the leaders do not have the capability of recognizing the achievements and potential (Barak, 2013). This kind of problem mainly occurred due the lack in the willingness of the leaders to communicate with the employees. Therefore, it becomes difficult for the leaders to segregate tasks among employees as per their capabilities (Harvey Allard, 2015). Thus, a hectic situation is created within the organization due to which productivity is hampered. Potential to provide clear directions Identification Not giving clear as well as proper direction to the employees or the subordinates by the leaders in order to some certain tasks is another very critical challenge for the leader (Schaeffer Mattis, 2012). In other words, it is a significant challenge that can be identified as the result of the poor communication capability of a particular leader (Chrobot-Mason Aramovich, 2013). Discussion and Analysis As per the given statistics, it has been proven that the not giving clear direction is a crucial challenge for the leader (Canas Sondak, 2013). The leaders of an organization must have the potential to provide the right direction, exact as well as an understandable direction or procedure through which employees can be able to implement certain important tasks for the organization (Kato Kodama, 2016). However, it must be said that this sort of problem generally happens due to the inability to communicate with the employees. Time to meet with employees Identification It can often be noticed that the employees do not get the chance to make a face to face conversation regarding certain operation with their leaders as they have very less time to communicate with the employees (Durrani, Rajagopal, 2016). Therefore, no time to meet the employees can be identified as a significant communication problem for the leaders. Discussion and Analysis the leaders should keep time for their subordinates as well as the employees, who are working under them so that they can effectively communicate regarding the job, productivity and many other things (Suedekum, Wolf Blien, 2014). However, in reality many of the leaders are failed to do so. Therefore, it is a huge communication challenge that must be overcome (Pieterse et al. 2013). Communicating with the Subordinates Identification Refusing to talk with the subordinates is a very crucial communication challenge that carries negative point for the leaders (Bass, 2015). Discussion and Analysis Such communication problem is simply obtained due to the lack in willingness to talk to the employees as a result of the leadership aggressiveness which is totally incorrect (Bass Avolio, 2013). Thus, the relationship between the leaders and the employees become worse and as a result of which a problematic situation arises in the workplace (Northouse, 2015). On the other hand, due to such problem the productivity is hampered as a whole. The leaders must be concerned regarding such communication challenge so that a good relation can be maintained (Daft, 2014). Telephonic Conversation Identification Some leaders often refuse to talk over the phone as they dislike making a telephonic conversation. Therefore, it can also be identified as an important communication challenge for the leaders (Avolio Yammarino, 2013). Discussion and Analysis some leaders simply have a fear to talk over the phone as they do not have the potential to make a proper telephonic conversation. Telephonic conversation is very difficult and many things have to be followed by the leaders or any other employees in order to make a proper conversation over the phone (Dubrin, 2015). Due to such problem, the organization can face several difficulties in terms of their business as the leaders always have to talk to the important clients of the organization in order to make certain essential contracts and deals (Frohlich Oppenheimer, 2015). The data in the above drawn figure presents that huge number of leaders are not involving in the critical moments through their effective communication that can help the employees see them as trustworthy (Chhokar et al. 2013). The effective leaders should have the knowledge that the healthy communication needs the connection potential with the feedback, meaning interaction, clear direction and inclusion as the nerve centre of the organization (Ubben et al. 2015). Addressing Issues Related to Culturally Diverse Workforces in Australian Organisations The term, Cultural Diversity is a group of diverse individuals from the distinct societies or the cultures. In workplace of organization, cultural diversity not only involves how people can perceive them but also how they can perceive other people. These kinds of perceptions can affect their interactions (Hargreaves Fink, 2012). Human Resource Professional and specially the leaders of a particular organization require for dealing effectively with issues like change, adaptability as well as communication for a wide assortment of the employees for effectively functioning as a company. Maintaining cultural diversity in the workplace is very much essential in order to run a successful business of an organization (Chemers, 2014). The heterogeneous groups can deliver a better critical analysis as well as the solutions, thus a leader must run as well as structure a company in such a manner that can promote the diversity in the workplace (Tannenbaum, Weschler Massarik, 2013). There are few ways through which the mentioned issues of cultural diversity can be resolved by the effective leaders in the Australian organizational workplaces. These are as follows: Recognition the leaders of the organizations must have the capability of recognizing the fact that the people have differences, it can be cultural, generational or physical and the leader cannot pretend that these challenges have been broken down. Instead, the leaders o that particular organization should celebrate the differentiations among the employees or the subordinates who are working under the leaders as well as motivate and encourage them for letting their individualities show (Rice, 2013). For a instance, the leaders should not make any hesitation for asking someone from the another culture regarding the etiquette practices of their cultures (Marshall, 2013). The knowledge of the employees could prove very useful to those particular businesses. The leaders should not pigeonhole their employees. The worth of a particular employee generally comes from more than the age or the ethnicity of the employee. Fairness It is the most significant as well as the most effective way through which the leaders can be able to create a well-structured diversity within the organizations. Acting uniformly as well as acting fairly is totally different and the only one enables a leader for dealing successfully the diversity in the workplace of his or her organization (Kang, 2015). The employees should not be fool by thinking that the particular employee is demonstrating a respecting diversity as well as a fair diversity by treating everyone exactly the same. Instead of that, the leaders should treat every people in a fair manner as well as respect the differences or the cultural differences among the employees that make them who they are. For an instance, the leaders should not make a schedule of a mandatory meeting that falls on a religious holiday of Australia (Barak, 2013). It can demonstrate an insensitivity of the leaders of an organization and can breed resentment as well as can also foster fee lings of being left out in any worker that are unable for attending the religious function (Harvey Allard, 2015). Employee Assessments As a leader or a manager of a particular business organization, that leader or the manager conduct already assessments and reviews as well (Schaeffer Mattis, 2012). the leaders must also examine the attitudes of the employees while preparing these kinds of assessments or reviews, specifically how the employees can work with other employees in that particular organization (Chrobot-Mason Aramovich, 2013). If the leader or the manager can make an observation that an employee only delegate jobs to the people of a particular race or if a worker in that organization discounts the ideas or the concepts of people above or below a certain age, it is thus the leaders responsibility for addressing the consequences. The leaders should recognize the issues among the employees as well as brig them up while making the assessment of the performance of the employees who are working under the instruction of the leader (Canas Sondak, 2013). Encourage interaction the leaders can maintain the diversity in the workplace effectively by encouraging interaction among the employees who working in the organization as the leaders subordinates (Kato Kodama, 2016). While the leaders can recognize the issues those are related to the diversity or the cultural diversity in the workplace, therefore, the leaders should make a thorough discussion regarding those issues with the employees in a very non-confrontational way (Durrani Rajagopal, 2016). For an instance, the leaders should encourage and motivate employees for working with other of different generations as well as different backgrounds. With the help of the initiation of this sort of interactions can motivate the employees for learning more regarding the goals, talents as well as styles of communication of their own as well as those of their co-workers (Suedekum et al. 2014). Appropriate Leadership Models or Styles Managing cultural diversity in the organizational workplace is a very crucial as well as critical concern all the organization in Australia as this country has been recognized as one of the growing countries in terms of enhancing diversity in the workplace all over the world (Pieterse et al. 2013). Therefore, as mentioned and discussed in the earlier section, the leaders can play a significant role in the order to maintain a huge cultural diversity within the organizational workplaces. In order to manage the cultural diversity in the organizational workplace, the leaders should follow some specific strategies or procedures (Bass Avolio, 2013). However, the leadership styles can be very much effective for the leaders in order to manage the cultural diversity (Northouse, 2015). There are several different and significant styles of leadership with the help of which the leaders can be able to maintain a culturally diverse workplace in a particular organization so that the employee relat ion, relation between the leaders and the employees as well as the productivity as a whole cannot be hampered. These leadership styles are as follows, Laissez-Faire Leadership Style the leaders who follow this particular leadership style lacks direct employees supervision as well as fails for providing feedback in a regular basis under the supervision of that particular leader. This particular style of leadership mainly hinders the production of the supervision that is employee needing (Daft, 2014). Thus, this kind of leadership style produces no supervision or leadership efforts from the leaders that can result in the increasing costs, lack of control as well as poor production. Therefore, it can easily be said that this particular style of leadership is not appropriate for managing cultural diversity within the organizational workplace (Avolio Yammarino, 2013). Autocratic Leadership Style this particular style o leadership permits managers for making decisions alone without the input of others. The leaders as well as the managers possess total authority as well as impose their will on the workers. No one can challenges the decisions of the leaders who follow this leadership style (Dubrin, 2015). Any developing countries like Australia who are democratic would not follow this particular style o leadership as this autocratic leadership style cannot be effective for the maintenance of the cultural diversity within the organizational workplace. Participative Leadership Style this particular style of leadership mainly values the input of the peers as well as the team members, but the responsibility of implementing the final and ultimate decision rests with this kind of leaders. This leadership boosts the morale of employee as the employees can contribute to the process of decision making through which diversity can be maintained within the organization (Frohlich Oppenheimer, 2015). While an organization requires for making changes in order to maintain diversity within the company, this style of leadership helps the employees to easily accept changes as they play a significant role in the process. Thus, this kind of leadership style can be very much effective for an organization to manage diversity within the company. Transactional Leadership Style - the managers or the leaders who are using the style of transactional leadership receive some particular tasks for providing as well as performing punishments or rewards towards the team members on the basis of the results of the performance of the employees (Ubben et al. 2015). The team members as well as the managers or the leaders can set the goals of predetermination together and workers agree for following the direction as well as the leadership of the leader or the manager for accomplishing those particular objectives or goals (Hargreaves Fink, 2012). The leaders can possess the power for reviewing the outcomes as well as correcting or training employees while the team members are failed for meeting the objectives (Chemers, 2014). Employees receive several rewards like the bonuses or the incentives while they accomplish their organizational objectives. Therefore, by analyzing the functionality of this particular style of leadership, t can also b e stated that the transactional leadership style can be able to manage the cultural diversity within the organization. Transformational Leadership Style this particular style of leadership is mainly depended on the high levels of the interaction or communication from the leaders in the higher management for meeting the goals. The leaders can have the potential motivating and encouraging employees as well as enhancing efficiency as well as the productivity through the high visibility and communication. This transformational leadership style needs the management involvement for meeting objectives (Rice, 2013). The leaders who follow the transformational leadership style focus on the big image within a company as well as delegate smaller tasks to the team for accomplishing objectives (Marshall, 2013). Therefore, all of the features of this particular leadership style can be very effective to create a well-diverse workplace in an Australian organization. Conclusion From the entire discussion made based on the effective leadership as well as the cultural diversity, a conclusion can be drawn that the leaders can play a significant role in the maintenance of the cultural diversity in the organizational workplace. Thus, the leaders in organizations should have to follow those leadership styles those are very much effective in order to manage the diversity among the employees in the organizational workplace. Australia is that country, where all of the organizations have diverse work culture. However, it must be said that without proper effectiveness of the leaders, it would not be possible for the Australian organizations to maintain a world popular diversity in their workplaces. On the other hand, it must be said that the leaders of the organizations must be able to make an effective communication capability so that they could be able to make a smooth and a good relation with the employees. However, the leaders of the Australian organizations have that capability to mitigate all the barriers of communication. Therefore, they have become successful in order to build diverse organizational workplaces. However, the leaders should always remember these concerns so that such kind of problems due to the communication gap or the problems of cultural diversity could not be taken place further in future. References Avolio, B.J. Yammarino, F.J. eds., (2013).Transformational and charismatic leadership: The road ahead. Emerald Group Publishing. Barak, M. E. M. (2013).Managing diversity: Toward a globally inclusive workplace. Sage Publications. Bass, B. M. (2015).Leadership and performance beyond expectations. Free Press; Collier Macmillan. Bass, B. M., Avolio, B. J. (2013).Full range leadership development: Manual for the Multifactor Leadership Questionnaire(pp. 43-44). Palo Alto, CA: Mind Garden. Canas, K., Sondak, H. (2013).Opportunities and challenges of workplace diversity. Pearson Higher Ed. Chemers, M. (2014).An integrative theory of leadership. Psychology Press. Chhokar, J. S., Brodbeck, F. C., House, R. J. (Eds.). (2013).Culture and leadership across the world: The GLOBE book of in-depth studies of 25 societies. Routledge. Chrobot-Mason, D., Aramovich, N. P. (2013). The psychological benefits of creating an affirming climate for workplace diversity.Group Organization Management,38(6), 659-689. Daft, R. (2014).The leadership experience. Cengage Learning. Dubrin, A. (2015).Leadership: Research findings, practice, and skills. Nelson Education. Durrani, A. S., Rajagopal, L. (2016). Restaurant human resource managers attitudes towards workplace diversity, perceptions and definition of ethical hiring.International Journal of Hospitality Management,53, 145-151. Frohlich, N., Oppenheimer, J. A. (2015).Political leadership and collective goods. Princeton University Press. Hargreaves, A., Fink, D. (2012).Sustainable leadership(Vol. 6). John Wiley Sons. Harvey, C. P., Allard, M. (2015).Understanding and managing diversity. Pearson. Kang, J. (2015). Effectiveness of the KLD Social Ratings as a Measure of Workforce Diversity and Corporate GovernanceReactions to diversity in recruitment advertisingAre differences black and white? Executive compensation as an agency problemThe predictive validity of multiple-item versus single-item measures of the same constructsDoes stakeholder orientation matter? The relationship between stakeholder management models and firm financial performanceWomen corporate directors: Current research and future .... Kato, T., Kodama, N. (2016).Corporate Social Responsibility and Gender Diversity in the Workplace: Evidence from Japan. Research Institute of Economy, Trade and Industry (RIETI). Marshall, S. (2013). Evaluating the strategic and leadership challenges of MOOCs.Journal of Online Learning and Teaching,9(2), 216. Northouse, P. G. (2015).Leadership: Theory and practice. Sage publications. Pieterse, A. N., Van Knippenberg, D., Van Dierendonck, D. (2013). Cultural diversity and team performance: The role of team member goal orientation.Academy of Management Journal,56(3), 782-804. Rice, A. K. (Ed.). (2013).Learning for leadership: Interpersonal and intergroup relations. Routledge. Schaeffer, C. B., Mattis, J. S. (2012). Diversity, religiosity, and spirituality in the workplace.Journal of management, spirituality religion,9(4), 317-333. Suedekum, J., Wolf, K., Blien, U. (2014). Cultural diversity and local labour markets.Regional Studies,48(1), 173-191. Tannenbaum, R., Weschler, I., Massarik, F. (2013).Leadership and organization. Routledge. Ubben, G. C., Hughes, L. W., Norris, C. J. (2015).The principal: Creative leadership for excellence in schools. Pearson.

Tom Buchanan Example of Arrogance Essay Example For Students

Tom Buchanan Example of Arrogance Essay The 1920s, ten years of thriving life in America. People living the good life and people living in the slumps. East Egg, the prominent community of the old rich. People who have known money all their lives. West Egg, the up and coming community of the newly rich. Manhattan, the city of life. The Valley of Ashes, separating the Eggs from the city. Symbolizing the poor. An aftermath of the industrial revolution. Four regions making up Long Island. In between them, the Long Island Sound. A stretch of water cutting through the land, separating the East from the West. All peoples living inside having the same American dream. All wanting to become successful and well loved, but most of all having money was a top priority for all of them. In F. Scott Fitzgeralds The Great Gatsby, the character Tom Buchanan believes that just because he has lots of money, it enables him to look down on others as inferior. Tom Buchanan is married to Daisy Baker, cousin of Nick Carraway. In his first meeting w ith Nick, who he knew from collage at New Haven, Nick sees Toms arrogance. To Nick, it seems that Tom uses his money mostly as an excuse to make himself seem higher than other people around him. Even to Nick. He applies this opinion of himself on many occasions, maybe not directly, but non the less his subliminal point gets across. Like saying just because Im stronger and more of a man than you are(pg.11) implies that his arrogance is there. To Tom, his money justifies his actions towards others no matter what they are. He believes that his money lets him justify his racial slurs. His biggest prejudice is that the white race is superior and this is evident when he tells Nick of the book, The Rise of the Coloured Empires. Toms idea is that if they dont look out, the white race will be utterly submerged(pg. 17). The reason he can say these things, he feels, is that because he is so rich nobody can touch him. Even with people closest to him. Such as Daisy, his wife. Even with her, he f eels that he can get away with anything and insult her with his arrogance. Take his relationship with Myrtle. Right under Daisys nose he has the audacity cheat on her. He even takes Nick to go see Myrtle. Were getting off! he insisted I want you to meet my girl.(pg. 28) He said this to Nick. Nick, Daisys second cousin once removed. He also finds the time to disrespect Myrtle when she mentions Daisy. By yelling at her and even beating her. He make a short deft movement and broke her nose with his open hand.(pg. 41) By doing this, he shows that looks down on even Myrtle and Daisy. When things are the worst for him, Tom Buchanan runs to his money and hides behind it. Same with Daisy. They were careless people, Tom and Daisy- they smashed up things and creatures and then retreated back into their money or their vast carelessness or whatever kept them together.(pg. 184) It was their money that kept them together. They used their money as shields. Used it also as an excuse and a reason to look down on others. Bibliography: We will write a custom essay on Tom Buchanan Example of Arrogance specifically for you for only $16.38 $13.9/page Order now

Animal Rights and the Ethics of Testing

Animal Rights and the Ethics of Testing Animals have been used as test subjects for medical experiments and other scientific investigations for hundreds of years. With the rise of the modern animal rights movement in the 1970s and 80s, however, many people began to question the ethics of using living creatures for such tests. Although animal testing remains commonplace today, public support for such practices has declined in recent years. Testing Regulations In the  United States, the  Animal Welfare Act  sets certain minimum requirements for the humane treatment of non-human animals in laboratories and other settings. It was signed into law by President Lyndon Johnson in 1966. The law, according to the U.S. Department of Agriculture, sets minimum standards of care and treatment be provided for certain animals bred for commercial sale, used in research, transported commercially, or exhibited to the public. However, anti-testing advocates rightfully claim that this law has limited enforcement power. For example, the AWA explicitly excludes from protection all rats and mice, which make up approximately 95 percent of the animals used in laboratories. To address this, a number of amendments have been passed in subsequent years. In 2016, for example, the Toxic Substances Control Act included language that encouraged the use of non-animal alternative testing methodologies. The AWA also requires institutions that perform vivisection to establish committees that are supposed to oversee and approve the use of animals, making sure that non-animal alternatives are considered. Activists counter that many of these oversight panels are ineffective or biased in favor of animal experiments. Furthermore, the AWA does not prohibit invasive procedures or the killing of the animals when the experiments are over. Estimates vary from 10 million to 100 million animals used for testing worldwide on an annual basis, but there are few sources of reliable data available. According to The Baltimore Sun, every drug test requires at least 800 animal test subjects.   The Animal Rights Movement The first law in the U.S. prohibiting the abuse of animals was enacted in 1641 in the colony of Massachusetts. It banned mistreatment of animals kept for mans use. But it wasnt until the early 1800s that people began advocating for animal rights in both the U.S. and the U.K. The first major animal welfare state-sponsored legislation in the U.S. established the Society for Prevention of Cruelty to Animals in New York in 1866. Most scholars say the modern animal rights movement began in 1975 with the publication of Animal Rights by Peter Singer, an Australian philosopher. Singer argued that animals could suffer just as humans do and therefore deserved to be treated with similar care, minimizing pain whenever possible. To treat them differently and say that experimentation on non-human animals is justified but experimentation on humans is not would be  speciesist. U.S. philosopher Tom Regan went even farther in his 1983 text The Case for Animal Rights. In it, he argued that animals were individual beings just as humans are, with emotions and intellect. In the following decades, organizations such as People for the Ethical Treatment of Animals and retailers such as The Body Shop have become strong anti-testing advocates. In 2013, the Nonhuman Rights Project, an animal rights legal organization, petitioned New York courts on behalf of four chimpanzees. The filings argued that the chimps had a legal right to personhood, and therefore deserved to be freed. The three cases were repeatedly rejected or thrown out in lower courts. In 2017, the NRO announced it would appeal to the New York State Court of Appeals. The Future of Animal Testing Animal rights activists frequently argue that ending vivisection would not end medical progress because non-animal research would continue. They point to recent developments in stem-cell technology, which some researchers say could one day replace animal tests. Other advocates also say  tissue cultures, epidemiological studies, and ethical human experimentation with fully informed consent could also find a place in a new medical or commercial testing environment. Resources and Further Reading Davis, Janet M. The History of Animal Protection in the United States Organization of American Historians. Nov. 2015. Funk, Cary and Raine, Lee. Opinion About the Use of Animals in Testing.  Pew Research Center. 1 Jul. 2015. United States Department of Agriculture. Animal Welfare Act. USDA.org Should Animals Be Used for Scientific or Commercial Testing? ProCon.org. Updated 11 Oct. 2017.

Dunkle v. State, 2006 Okla. Crim. 29, 139 P.3d 228, 2006 Okla. Crim Assignment

Dunkle v. State, 2006 Okla. Crim. 29, 139 P.3d 228, 2006 Okla. Crim. App. Lexis 29 (2006), - Assignment Example Character evidence was used in the court for the purpose of proving action and computer-generated crime scene re-enactments were used to persuade the jury that the state’s version were consistent with evidence at the scene and the defendant’s was not. Based on this, Dunkle was convicted of first degree murder. Dunkle has now appealed for her sentence and conviction. The issue is whether, by using improper character evidence, the appellant was denied of a fair trial. It is to be seen if character evidence provided is relevant and admissible in the court of law. Another issue is whether the computer-generated re-enactments are actual images of the crime or a set of possibilities. Previously, the Court had convicted Dunkle of first degree murder, but the decision has now been reversed and the case has been remanded for a new trial. It was found that there were reversible errors in admitting of computer-generated reconstructions and, irrelevant and inappropriate character evidence. The previous court had decided that the character evidence showcased and the evidence from computer-generated re-enactments were sufficient to prove that Dunkle had committed the crime and hence was convicted of first degree murder. But this court is of the opinion that evidence is insufficient to justify the decision. The court came to this conclusion as most of the arguments of the State were directed towards establishing that Dunkle had a bad character and a person who would kill someone but there was no attempt made to establish an apparent motive for the crime. The majority of the character evidence presented was irrelevant to the murder charge. And with respect to computer-generated re-enactments, the evidence only proves that defendant’s version is not consistent with the evidence at the scene but in no way proves the claim of the state that the

Drugs and Crime - Neurotransmitters Assignment Example | Topics and Well Written Essays - 500 words

Drugs and Crime - Neurotransmitters - Assignment Example The brain as an entry of the CNS is the centre of control in the body that has three main components; brainstem, forebrain and the hindbrain. The forebrain’s responsibility is stretched several functions such as thinking, understanding, perceiving, reception and sensory information processing among others. Some of the structures forming it include thalamus, hypothalamus, cerebrum and the cerebral cortex (Nieuwenhuys, 2008). The hind and midbrain from the brainstem. Visual and auditory responses are carried out in the midbrain. About the hindbrain, it stretches from the spinal cord. It holds structures that build it such as the cerebellum and the pons. This region is vital for the maintenance of equilibrium and balance, coordination and conducting the sensory information. The medulla oblongata is also in the hindbrain, responsible for automated functions such as heart rate, digestion and breathing. The spinal cord is also a structure in the central nervous system; it takes a cylindrical form of bundled nerve fibres that are connected to the brain, running in the protective column that extends from the neck. Its nerves relay external stimuli to and from the brain. Body cells contain neurons and are the basic units of the CNS, they hold nerve processes which consist of dendrites and axons to transmit and conduct signals. Axons ferry signals outside the cell body, while dendrites do the reverse (Nieuwenhuys, 2008). Neurons are further classified as sensory or motor, inter-neurons. The motor neurons transport information from the CNS to glands, muscles and organs while the sensory neurons carry information to the CNS from external or internal stimuli. Signals between the sensory and motor are relayed by the inter-neurons The synapse is the gap between the axon and dendrites that holds the synapse fluid where axon releases the neurotransmitters.  Neurotransmitters are mostly associated with dopamine and schizophrenia.