Global Pharmaceutical Industry

INTRODUCTION According to Hunter s. Thomas â€Å"you can turn your back on person, but never turn your back on a drug, especially when it's waving a razor sharp hunting. † The global pharmaceutical industry had done tremendous contribution to mankind, but now pharmaceutical companies are facing tough time in a decade. The case is broken in to different parts which is emphasized on how internal and external factors affecting the industry firstly, the main environmental forces currently affecting the industry through PEST analysis.Secondly, the implications of the changes in business environment that is internal factors through porter's five force theory. Finally, the use and limitations of the tools applied to solve case are discussed. ORIGIN AND EVOLUTION The present pharmaceutical industries are non-assembled and more of competitive but it had emerged in early 19th century in the Rhine valley near Basel Switzerland where dyestuffs were found to have antiseptic properties.Comp anies like Hoffman-la rochy, Sandoz, Novartis are all started as Rhine based family dyestuff and chemical companies, which are still doing tremendous business even to day. Slowly these chemical companies started making pharmaceuticals and synthetic chemicals and evolved as global players. In early 1940's the industry showed drastic changes such as introduction of penicillin and other drugs. In 1960's industry growing rapidly with the setting up of R&D not only this economies prospered by the spending on health care in same period.In 1970's industry showed major development but a strong regulatory controls also came into existence with this development, and this regulatory controls had removed the rule of permanent patent to some fixed period which resulted in birth of branded generics. ENVIRONMENTAL FORCES EFFECTING PHARMACEUTICAL INDUSTRY The scan of external macro environment in which the firm operates can be expressed in terms P- POLITICAL E-ECONOMICAL S-SOCIAL T-TECHNOLOGY POLIT ICAL FACTORS AFFECTING THE SECTORPolitical factors includes government regulations and legal issues defines both formal and informal rules under which firm operates some example like tax policy, trade restrictions and tariffs, political stability. Political arena has huge influence up on the regulations of business and the spending power of consumers and other business. Over many years the pharmaceuticals industry has increased political attentions because of increase in recognitions of the economic important of healthcare as a component of social welfare .It takes 10-15 years on average to experiment drug to travel from lab to patient consumption, as patent protection is fixed that is only 20 years but companies has to spend 15 years on experiments by the time it reaches to the market the patent will be almost comes to expired and which will result in birth of generic medicines which has exactly same ingredients as of branded drugs but shows huge difference in price, because the ge neric brand does not spend on clinical trials so the entry of generic are the major impact on pharmacy industry because of the legal policy set by political forces example in us 84% of sales had been dropped in 12 weeks by Allegra hay fever treatment because of expiry of patent in 2006. Another major problem affecting the industry in many countries are monophony which means only one powerful purchaser who are government. Since 1980 government around the world attracting pharmaceuticals as a politically easy target in their effort to control l in increasing health care expenditure like price and reimbursement controls and also the industry loosed both public and political support to resist this change.In 1990 the effect of economic recession had lead to fall in tax revenue, the government forever changing cost containment plans had become operations of the company unstable in European market which is highly fragmented, moreover the expansion of EU had provided many opportunities but it also raised new challenges from generics and low priced imports. ECONOMIC FACTORS AFFECTING THE SECTOR Economic factors affect the purchasing power of potential customers and the firms cost of capital examples like economic growth, interest rates and exchange rates. The government price control is a major challenge to the industry in the form of parallel trade. Parallel trade is nothing but free movement of the product across the Europe with out any trade barriers which will affect the local manufacture because the distributor will buy drugs in low price markets and export them to high price markets example buying the product from manufacture in Poland and exporting them to Ireland.The exchange rates and currency problem is also one of the major issue for example Canada has inflexible pricing and reimbursement criteria, where USA does not have price controls as a results the price drug in America is high compare to Canada which leads to damage of brand image in consumers mind for example price of Lipitor is 3. 20/pill in USA where in Canada which is 1. 89/pill for same drug. Not only this, the growth of pharmaceutical market is aligned with GDP growth. As R&D productivity is declined and development times were lengthened, as clinical trials are becoming more complex and costly there was sharp rise in R&D expenditure. SOCIAL CULTURAL FACTORS AFFECTING THE SECTORSocial factors includes the demographic and cultural aspects of the external macro environment these factors effects customers needs and the size of potential markets, some social factors include health consciousness, population growth rate, age distribution, emphasis on safety and carrier attitudes. ageing populations are creating pressure on healthcare funding systems as over 65 consumes four times more than that of below 65 which leads to more expensive technology solutions and increase in patient expectations had created an unsustainable situation to the industry. Some countries cannot enjoy unive rsal coverage system and latest treatments because they are not funded by the insurance companies like USA which can afford latest technology but cannot share the benefits because of increasing populations in different parts of the world.In developed countries consumer are benefited by the insurance and can afford ethical drugs but the countries who cannot afford to ethical drugs are switching to generic to save coast which pressuring pharmacists to substitute generic drug as the first choice, patented drugs are only used if generic drug fails. The OTC(over the counter) comprise of 20% of market which may purchase without prescription specially OTC is more in developing countries and also for these the patented drug companies has introduce disease management initiatives to attack the challenges from generic. Some consumer does not want to use biopharmaceuticals because they genetically done. TECHNOLOGICAL FACTORS AFFECTING THE INDUSTRY Technological factors can lower barriers to ent ry, reduce minimum efficient production levels and influence outsourcing decisions. Some of the technological factors includes R&D activity, technology incentivise and rate of technology change. he technology is an competitive advantage to the companies and success of R&D lays in team working, knowledge management and close relation with external flexible and some indicates lean and flexible operations and out sourcing is a gate way of success not only these there are many questions raised that the investment on R&D is could not sustain for example in 2005 there are nearly 650 cancers drugs in development. The utilization of technology is very expensive because it includes latest instruments which is possible only for developed countries to use technology because they are funded by insurance companies and product developed by this technology cannot afford in developing countries because of its huge investment.THE IMPLICATIONS OF THE CHANGING BUSINESS ENVIRONMENT OF THE PHARMACEUTICA L INDUSTRY Porter's five force model â€Å"The porter's model is an outside in business unit strategy tool used to know value of industrial structure. The competitive force analysis is made by the identification of five fundamental competitive forces. â€Å"(12MANAGE:2009) POTENTIAL ENTRANCE The threat of new entry is low in this sector because companies has to spend huge amount to produce a product, so investment for the capital is very huge and its as to follow many rules and regulations set up by the government and to maintain the standard which where set is very difficult for new companies which want to enter into market.More over it is very risky business because it takes 10-15 years for new market to come into market and nobody is sure about the success of the products and patent time is also limited. POTENTIAL SUPPLIER Bargaining power of supplier is low because there are only few suppliers because the suppliers in this industry are different from other industries as ingred ients used to make drugs are chemicals so the suppliers are chemical industries. It is very difficult for the suppliers to sustain in the market because if they increase their price the company may change supplier who supply raw materials comparatively low price compare to existing one and industry is not key customer group to the supplier. Brand image, role of quality, service of supplier is not considered by the industry. POTENTIAL BUYERSBargaining power of buyer is high because main buyers are generally government and the companies that is monophony and companies cannot go against them and they can only sell the product to government the other side of the buyer are consumers who's buying power is also high because of substitute available in markets and brand loyalty is low in consumers. POTENTIAL SUBSTITUTES Threat of substitutes is high in this industries, there are many substitute products in market like generics, branded generics, biopharmaceuticals as they are very cheap comp are to the branded drugs as discussed earlier that branded drugs will consider only when generic drugs fails. And import of drugs from china and India which are produce very cheaply compare to local producers. COMPETITIVE RIVALRYCompetitive rivalry is high in this sector because advantage gained by the first mover advantages (patent). As market is getting saturating companies are going global which means world wide launches, global branding and heavy investment in promotion as shorter product life cycle and to gain competitive advantage. In spite of taking care during launching the industry is still faces tough time from generic drugs and not only this merges and acquisitions as one of the major cause for competitive rivalry. SWOT ANALYSIS OF PHARMACEUTICALS â€Å"Swot analysis provide information that is helpful in matching firm resources and capabilities to the competitive environment in which it operates. â€Å"(QUICKMBA: 2007) S-STRENGTH W-WEAKNESS O-OPPORTUNITIES T-THREATSThe environmental factors internal are strength and weakness and external are threats and opportunities. STRENGTHS Patent is one of the major strength in this sector of industry which has strong brand names such as Pfizer, GlaxoSmithKline, Merck, Johnson and Johnson, Novartis. The above mentioned companies have good reputations among the consumers The sector have cost advantages from propriety know-how This sector company have exclusive access to high grade natural recourses The sector has favourable access to distribution networks WEAKNESS Patent is consider as strength of this sector but due to limited time for patent had become its weakness. The products from this sector have side effects.The products take long time in development such as clinical trials which takes 10-15 years. It involves high cost structures such as investment on R;D, advertising. One of the major weaknesses is regulatory and legal issues by FDA. OPPORTUNIITIES Human needs are unfulfilled, so this unfulfilled nee ds are the opportunities for develop new products. The arrival of new technology as technology keeps on changing time by time. The removal of internal barrier like free movements of goods within EUROPEAN UNION. Due to pressure from big branded companies as this sector contributes major share to economy due to there pressure loosening of regulations may be happen in future. THREATSGenerics are the major threat to this sector The shift in customers taste away from the firm's products, customer in this sector does not have particular brand. Availability of huge range of substitutes in markets Entry barriers to some countries Parallel trade is also one of the major threat to this industry. USES AND LIMITATIONS OF TOOLS PEST USE Pest analysis looks at the external environment and good tool to understand big picture of the environment in which business operates. And it will allow companies to take opportunities and reduces threat of a company which they are facing. Pest analysis provide f urther plan to a company to develop if strategic plan is done correctly.With the pest analysis companies can see longer horizontal time and able to differentiate opportunities and threats and also help companies to look outside environment and what are the potential forces which going to affect. Pest is a mnemonic standing for political, economic, social and technology which are use to brain storm the characteristics of a industry and can draw conclusion as the significant forces of change operating with in it. More over it is useful to avoid taking actions which results in failure, it is very useful especially in starting new products because it will avoid assumptions and make to adopt quickly the reality of the new environment, it is straightforward and easy to adopt, broad categories covering major environmental factors and will provide more data about influence. LIMITATIONSIt is not a set of rigid compartment to store ideas more over pest analysis does not analyse all the detail s in the external environments like markets, share holder, creditors, supra-national bodies, pressure groups and labour markets. PORTER'S FIVE FORCE USE Porter's five forces theory is valuable contribution to study competition it give important information in three aspects. STATICAL ANALYSIS: It determine industrial attractiveness and gives an over view of profitability, this model helps in entry and exit questioning a market segment and used to compare influence of competitor forces and influence of competitors . DYNAMICAL ANALYSIS: It helps to understand potential future attractiveness of the industry. ANALYSIS OF OPTIONS:The knowledge and power of five forces help company to develop options to improve position of the company which results in new strategic direction like new differentiation for competitive products of strategic partnerships. Moreover, porter's five force models gives systematic and structured analysis of market structure and competitive situation, this model is ap plicable universal such as particular company, market segment and industries. LIMITATIONS Care should be taken while using this model such as never under estimate the important of current strength of the company. The model design for analyzing individual business strategies and it will not support the interdependence and synergy with portfolio of larger corporate.If we look from the theoretical side the model does not show possibility that an industry could be attractive because some companies in it. More over some times it may be possible to create complete new markets instead of selecting from existing one and also some people argued that environments which are characterized by rapid, systemic and quick changes require more flexible, dynamic approach for strategy formations. SWOT ANALYSIS USE The name it self say it is used to identify company's strengths, weakness, opportunities and threats. And use to formulate strategies the analysis usefulness of SWOT is not limited to profit seeking organizations.It is used in decision making situation when a desired end -state has been defined, and it is used in pre crisis planning and prevention and also used to in creating a recommendation during a viability study LIMITATIONS It has ability to over simplify the situation by dividing the firms environmental factors into categories in which they may not fit. The classifications of some factors as strength or weakness, or as opportunities or threats is some what peculiar CONCLUSION The pharmaceutical industry made tremendous contribution to man kind but, the industry is facing tough time in this decade. Yet it is targeted by government, media in spite of huge investment on R&D and the product life is getting shorter. Free trade, parallel trade and exchange rate are oreover the birth of generics, creating major problems to the industry. Niche areas getting crowded creating price pressure, but the presence of global expertise firms like Pfizer, Merck will stand as global opportunities. The industry more than ever needs to get a handle on the slippery business of scientific creativity and provided it critics with indisputable evidence of its value. BIBLIOGRAPHY Johnson et. al (2007). Exploring corporate strategy. 8th ed. England: Pearson Education. 915 Quickmba. (2007). Swot analysis. Available: http://www. quickmba. com/strategy/swot/. Last accessed 30 Oct 2009. Answers corporations. (2009). Swot analysis.Available: http://www. answers. com/topic/swot-analysis. Last accessed 30 Oct 2009. 12 manage. (2009). Five Competitive Forces. Available: http://www. 12manage. com/methods_porter_five_forces. html. Last accessed 30 Oct 2009. 12 manage. (2009). Five Competitive Forces. Available: http://www. 12manage. com/methods_porter_five_forces. html. Last accessed 30 Oct 2009. Olivia Hunt. (2008). Evaluation of five force theory. Available: http://www. articlesbase. com/education-articles/evaluation-of-the-five-forces-theory-176854. html. Last accessed 01 Nov 2009. Olivia Hunt. (2007). Study of Porter's Five Forces Theory. Available: http://www. articlealley. om/article_185592_15. html. Last accessed 01 Nov 2009. Netmba. (2007). PEST ANALYSIS. Available: http://www. netmba. com/strategy/pest/. Last accessed 01 Nov 2009. Quickmba. (2007). PEST ANALYSIS. Available: http://www. quickmba. com/strategy/pest/. Last accessed 02 Nov 2009. Verbigena. (2008). History and analysis of pharmaceutical industry. Available: www. verbigena. com/case_studies/history_analysis. pdf. Last accessed 10 Nov 2009 Papers4u. (2009). what is pest analysis. Available: http://www. coursework4you. co. uk/essays-and-dissertations/pest-analysis. php. Last accessed 10 Nov 2009 G. A. Cole  (2005). Strategic Management. 2nd ed. London: person. 506 Read Global Pharmaceutical Industry INTRODUCTION According to Hunter s. Thomas â€Å"you can turn your back on person, but never turn your back on a drug, especially when it's waving a razor sharp hunting. † The global pharmaceutical industry had done tremendous contribution to mankind, but now pharmaceutical companies are facing tough time in a decade. The case is broken in to different parts which is emphasized on how internal and external factors affecting the industry firstly, the main environmental forces currently affecting the industry through PEST analysis.Secondly, the implications of the changes in business environment that is internal factors through porter's five force theory. Finally, the use and limitations of the tools applied to solve case are discussed. ORIGIN AND EVOLUTION The present pharmaceutical industries are non-assembled and more of competitive but it had emerged in early 19th century in the Rhine valley near Basel Switzerland where dyestuffs were found to have antiseptic properties.Comp anies like Hoffman-la rochy, Sandoz, Novartis are all started as Rhine based family dyestuff and chemical companies, which are still doing tremendous business even to day. Slowly these chemical companies started making pharmaceuticals and synthetic chemicals and evolved as global players. In early 1940's the industry showed drastic changes such as introduction of penicillin and other drugs. In 1960's industry growing rapidly with the setting up of R&D not only this economies prospered by the spending on health care in same period.In 1970's industry showed major development but a strong regulatory controls also came into existence with this development, and this regulatory controls had removed the rule of permanent patent to some fixed period which resulted in birth of branded generics. ENVIRONMENTAL FORCES EFFECTING PHARMACEUTICAL INDUSTRY The scan of external macro environment in which the firm operates can be expressed in terms P- POLITICAL E-ECONOMICAL S-SOCIAL T-TECHNOLOGY POLIT ICAL FACTORS AFFECTING THE SECTORPolitical factors includes government regulations and legal issues defines both formal and informal rules under which firm operates some example like tax policy, trade restrictions and tariffs, political stability. Political arena has huge influence up on the regulations of business and the spending power of consumers and other business. Over many years the pharmaceuticals industry has increased political attentions because of increase in recognitions of the economic important of healthcare as a component of social welfare .It takes 10-15 years on average to experiment drug to travel from lab to patient consumption, as patent protection is fixed that is only 20 years but companies has to spend 15 years on experiments by the time it reaches to the market the patent will be almost comes to expired and which will result in birth of generic medicines which has exactly same ingredients as of branded drugs but shows huge difference in price, because the ge neric brand does not spend on clinical trials so the entry of generic are the major impact on pharmacy industry because of the legal policy set by political forces example in us 84% of sales had been dropped in 12 weeks by Allegra hay fever treatment because of expiry of patent in 2006. Another major problem affecting the industry in many countries are monophony which means only one powerful purchaser who are government. Since 1980 government around the world attracting pharmaceuticals as a politically easy target in their effort to control l in increasing health care expenditure like price and reimbursement controls and also the industry loosed both public and political support to resist this change.In 1990 the effect of economic recession had lead to fall in tax revenue, the government forever changing cost containment plans had become operations of the company unstable in European market which is highly fragmented, moreover the expansion of EU had provided many opportunities but it also raised new challenges from generics and low priced imports. ECONOMIC FACTORS AFFECTING THE SECTOR Economic factors affect the purchasing power of potential customers and the firms cost of capital examples like economic growth, interest rates and exchange rates. The government price control is a major challenge to the industry in the form of parallel trade. Parallel trade is nothing but free movement of the product across the Europe with out any trade barriers which will affect the local manufacture because the distributor will buy drugs in low price markets and export them to high price markets example buying the product from manufacture in Poland and exporting them to Ireland.The exchange rates and currency problem is also one of the major issue for example Canada has inflexible pricing and reimbursement criteria, where USA does not have price controls as a results the price drug in America is high compare to Canada which leads to damage of brand image in consumers mind for example price of Lipitor is 3. 20/pill in USA where in Canada which is 1. 89/pill for same drug. Not only this, the growth of pharmaceutical market is aligned with GDP growth. As R&D productivity is declined and development times were lengthened, as clinical trials are becoming more complex and costly there was sharp rise in R&D expenditure. SOCIAL CULTURAL FACTORS AFFECTING THE SECTORSocial factors includes the demographic and cultural aspects of the external macro environment these factors effects customers needs and the size of potential markets, some social factors include health consciousness, population growth rate, age distribution, emphasis on safety and carrier attitudes. ageing populations are creating pressure on healthcare funding systems as over 65 consumes four times more than that of below 65 which leads to more expensive technology solutions and increase in patient expectations had created an unsustainable situation to the industry. Some countries cannot enjoy unive rsal coverage system and latest treatments because they are not funded by the insurance companies like USA which can afford latest technology but cannot share the benefits because of increasing populations in different parts of the world.In developed countries consumer are benefited by the insurance and can afford ethical drugs but the countries who cannot afford to ethical drugs are switching to generic to save coast which pressuring pharmacists to substitute generic drug as the first choice, patented drugs are only used if generic drug fails. The OTC(over the counter) comprise of 20% of market which may purchase without prescription specially OTC is more in developing countries and also for these the patented drug companies has introduce disease management initiatives to attack the challenges from generic. Some consumer does not want to use biopharmaceuticals because they genetically done. TECHNOLOGICAL FACTORS AFFECTING THE INDUSTRY Technological factors can lower barriers to ent ry, reduce minimum efficient production levels and influence outsourcing decisions. Some of the technological factors includes R&D activity, technology incentivise and rate of technology change. he technology is an competitive advantage to the companies and success of R&D lays in team working, knowledge management and close relation with external flexible and some indicates lean and flexible operations and out sourcing is a gate way of success not only these there are many questions raised that the investment on R&D is could not sustain for example in 2005 there are nearly 650 cancers drugs in development. The utilization of technology is very expensive because it includes latest instruments which is possible only for developed countries to use technology because they are funded by insurance companies and product developed by this technology cannot afford in developing countries because of its huge investment.THE IMPLICATIONS OF THE CHANGING BUSINESS ENVIRONMENT OF THE PHARMACEUTICA L INDUSTRY Porter's five force model â€Å"The porter's model is an outside in business unit strategy tool used to know value of industrial structure. The competitive force analysis is made by the identification of five fundamental competitive forces. â€Å"(12MANAGE:2009) POTENTIAL ENTRANCE The threat of new entry is low in this sector because companies has to spend huge amount to produce a product, so investment for the capital is very huge and its as to follow many rules and regulations set up by the government and to maintain the standard which where set is very difficult for new companies which want to enter into market.More over it is very risky business because it takes 10-15 years for new market to come into market and nobody is sure about the success of the products and patent time is also limited. POTENTIAL SUPPLIER Bargaining power of supplier is low because there are only few suppliers because the suppliers in this industry are different from other industries as ingred ients used to make drugs are chemicals so the suppliers are chemical industries. It is very difficult for the suppliers to sustain in the market because if they increase their price the company may change supplier who supply raw materials comparatively low price compare to existing one and industry is not key customer group to the supplier. Brand image, role of quality, service of supplier is not considered by the industry. POTENTIAL BUYERSBargaining power of buyer is high because main buyers are generally government and the companies that is monophony and companies cannot go against them and they can only sell the product to government the other side of the buyer are consumers who's buying power is also high because of substitute available in markets and brand loyalty is low in consumers. POTENTIAL SUBSTITUTES Threat of substitutes is high in this industries, there are many substitute products in market like generics, branded generics, biopharmaceuticals as they are very cheap comp are to the branded drugs as discussed earlier that branded drugs will consider only when generic drugs fails. And import of drugs from china and India which are produce very cheaply compare to local producers. COMPETITIVE RIVALRYCompetitive rivalry is high in this sector because advantage gained by the first mover advantages (patent). As market is getting saturating companies are going global which means world wide launches, global branding and heavy investment in promotion as shorter product life cycle and to gain competitive advantage. In spite of taking care during launching the industry is still faces tough time from generic drugs and not only this merges and acquisitions as one of the major cause for competitive rivalry. SWOT ANALYSIS OF PHARMACEUTICALS â€Å"Swot analysis provide information that is helpful in matching firm resources and capabilities to the competitive environment in which it operates. â€Å"(QUICKMBA: 2007) S-STRENGTH W-WEAKNESS O-OPPORTUNITIES T-THREATSThe environmental factors internal are strength and weakness and external are threats and opportunities. STRENGTHS Patent is one of the major strength in this sector of industry which has strong brand names such as Pfizer, GlaxoSmithKline, Merck, Johnson and Johnson, Novartis. The above mentioned companies have good reputations among the consumers The sector have cost advantages from propriety know-how This sector company have exclusive access to high grade natural recourses The sector has favourable access to distribution networks WEAKNESS Patent is consider as strength of this sector but due to limited time for patent had become its weakness. The products from this sector have side effects.The products take long time in development such as clinical trials which takes 10-15 years. It involves high cost structures such as investment on R;D, advertising. One of the major weaknesses is regulatory and legal issues by FDA. OPPORTUNIITIES Human needs are unfulfilled, so this unfulfilled nee ds are the opportunities for develop new products. The arrival of new technology as technology keeps on changing time by time. The removal of internal barrier like free movements of goods within EUROPEAN UNION. Due to pressure from big branded companies as this sector contributes major share to economy due to there pressure loosening of regulations may be happen in future. THREATSGenerics are the major threat to this sector The shift in customers taste away from the firm's products, customer in this sector does not have particular brand. Availability of huge range of substitutes in markets Entry barriers to some countries Parallel trade is also one of the major threat to this industry. USES AND LIMITATIONS OF TOOLS PEST USE Pest analysis looks at the external environment and good tool to understand big picture of the environment in which business operates. And it will allow companies to take opportunities and reduces threat of a company which they are facing. Pest analysis provide f urther plan to a company to develop if strategic plan is done correctly.With the pest analysis companies can see longer horizontal time and able to differentiate opportunities and threats and also help companies to look outside environment and what are the potential forces which going to affect. Pest is a mnemonic standing for political, economic, social and technology which are use to brain storm the characteristics of a industry and can draw conclusion as the significant forces of change operating with in it. More over it is useful to avoid taking actions which results in failure, it is very useful especially in starting new products because it will avoid assumptions and make to adopt quickly the reality of the new environment, it is straightforward and easy to adopt, broad categories covering major environmental factors and will provide more data about influence. LIMITATIONSIt is not a set of rigid compartment to store ideas more over pest analysis does not analyse all the detail s in the external environments like markets, share holder, creditors, supra-national bodies, pressure groups and labour markets. PORTER'S FIVE FORCE USE Porter's five forces theory is valuable contribution to study competition it give important information in three aspects. STATICAL ANALYSIS: It determine industrial attractiveness and gives an over view of profitability, this model helps in entry and exit questioning a market segment and used to compare influence of competitor forces and influence of competitors . DYNAMICAL ANALYSIS: It helps to understand potential future attractiveness of the industry. ANALYSIS OF OPTIONS:The knowledge and power of five forces help company to develop options to improve position of the company which results in new strategic direction like new differentiation for competitive products of strategic partnerships. Moreover, porter's five force models gives systematic and structured analysis of market structure and competitive situation, this model is ap plicable universal such as particular company, market segment and industries. LIMITATIONS Care should be taken while using this model such as never under estimate the important of current strength of the company. The model design for analyzing individual business strategies and it will not support the interdependence and synergy with portfolio of larger corporate.If we look from the theoretical side the model does not show possibility that an industry could be attractive because some companies in it. More over some times it may be possible to create complete new markets instead of selecting from existing one and also some people argued that environments which are characterized by rapid, systemic and quick changes require more flexible, dynamic approach for strategy formations. SWOT ANALYSIS USE The name it self say it is used to identify company's strengths, weakness, opportunities and threats. And use to formulate strategies the analysis usefulness of SWOT is not limited to profit seeking organizations.It is used in decision making situation when a desired end -state has been defined, and it is used in pre crisis planning and prevention and also used to in creating a recommendation during a viability study LIMITATIONS It has ability to over simplify the situation by dividing the firms environmental factors into categories in which they may not fit. The classifications of some factors as strength or weakness, or as opportunities or threats is some what peculiar CONCLUSION The pharmaceutical industry made tremendous contribution to man kind but, the industry is facing tough time in this decade. Yet it is targeted by government, media in spite of huge investment on R&D and the product life is getting shorter. Free trade, parallel trade and exchange rate are oreover the birth of generics, creating major problems to the industry. Niche areas getting crowded creating price pressure, but the presence of global expertise firms like Pfizer, Merck will stand as global opportunities. The industry more than ever needs to get a handle on the slippery business of scientific creativity and provided it critics with indisputable evidence of its value. BIBLIOGRAPHY Johnson et. al (2007). Exploring corporate strategy. 8th ed. England: Pearson Education. 915 Quickmba. (2007). Swot analysis. Available: http://www. quickmba. com/strategy/swot/. Last accessed 30 Oct 2009. Answers corporations. (2009). Swot analysis.Available: http://www. answers. com/topic/swot-analysis. Last accessed 30 Oct 2009. 12 manage. (2009). Five Competitive Forces. Available: http://www. 12manage. com/methods_porter_five_forces. html. Last accessed 30 Oct 2009. 12 manage. (2009). Five Competitive Forces. Available: http://www. 12manage. com/methods_porter_five_forces. html. Last accessed 30 Oct 2009. Olivia Hunt. (2008). Evaluation of five force theory. Available: http://www. articlesbase. com/education-articles/evaluation-of-the-five-forces-theory-176854. html. Last accessed 01 Nov 2009. Olivia Hunt. (2007). Study of Porter's Five Forces Theory. Available: http://www. articlealley. om/article_185592_15. html. Last accessed 01 Nov 2009. Netmba. (2007). PEST ANALYSIS. Available: http://www. netmba. com/strategy/pest/. Last accessed 01 Nov 2009. Quickmba. (2007). PEST ANALYSIS. Available: http://www. quickmba. com/strategy/pest/. Last accessed 02 Nov 2009. Verbigena. (2008). History and analysis of pharmaceutical industry. Available: www. verbigena. com/case_studies/history_analysis. pdf. Last accessed 10 Nov 2009 Papers4u. (2009). what is pest analysis. Available: http://www. coursework4you. co. uk/essays-and-dissertations/pest-analysis. php. Last accessed 10 Nov 2009 G. A. Cole  (2005). Strategic Management. 2nd ed. London: person. 506 Read

Advantages of mobile phone Essay

Imagine waking up one morning and noticing your smartphone is missing. Really missing, not just buried under your blankets or abandoned in a coat pocket. Now imagine that happened to every single smartphone user. One of the most common criticisms about 21st century society is our dependence on technology, particularly smartphones. It’s no secret many of us rely a teensy bit too much on our mobile devices and, perhaps as a result, we’re abandoning some real world know-how in favor of convenience. Here we consider what most of us would essentially have to relearn without access to smartphones. Unlike the traditional cell phones, smartphones put the Internet in your pocket so you will be able to surf the Internet at any time on your phone. For instance, with your smartphone, you are able to search recipe websites and locate new recipes to cook. The phone also offers news websites and weather updates if you need to check the weather before you head out for the day .In addition, when you are on the bus heading back home, having a slap-up meal in your favourite restaurant, or on a weekend trip away; regardless, you’re never more than a few minutes from getting in touch with your nearest and dearest. Instant access to your emails and social media like Facebook, Twitter and Foursquare means that you know what all your friends are doing, where they are, and what they think about anything from news to music to sport, right now. You can Facebook chat with your brothers who are overseas, or tweet at your best mate to say how much you’re looking forward to seeing them later; near or far, smartphones have made keeping in touch a real doddle. On the other hand, smartphones have many tools such as digital cameras, clocks , GPS navigation system, torch light and so forth. These tools will definitely help us in our daily life. Smartphones have combined everything we need to organise our lives into a single handheld device. We can set an alarm for the morning or a reminder about a doctor’s appointment, snapping a quick photo of a film poster to look at later, we can store ideas, memories and feelings within seconds. Besides, when we use the phone’s GPS system, we won’t have to worry about getting lost on the road or having trouble driving in a city that we are not familiar with at night. we can also download game apps to relax ourselves Smartphones also benefit in education system. Some lecturers use to record their lectures and create it where students can upload teachers’ lectures. Students who have smartphones can research various websites for research purposes easily. Teachers can use smartphones for file sharing, especially if they have the Dropbox app. This app is great for distributing information. Teachers can tell their students to make Dropbox accounts and create class-shared folders so that students can just submit their essays and projects from their computers or smartphones. Dropbox can save teachers time and paper.Moreover, we can use our smartphone to do our homeworks and assignments to find some information. By using our smart phones to find information is much faster than using a computer or a laptop. We don’t need to turn the computer on and off and we don’t have to connect to the Internet line for using the Internet. Many students also tend to use the dictionary in their smart phones. So, they will learn more and more words in a day.They will also learn the pronounciation of unfimiliar words .This will definitely improve their grammar and writing skills. To conclude, smartphones are an technological invention to follow the evolution of the society. Today, it is impossible not to think of using smartphones in everyday life. They became really important and essential as they are used for work or for private life. Smartphone brings many convenience in our livesFinally, the NSA affair showed that governments keep people under surveillance. More than the fact that this is a international issue between the United States and other countries, people can reflect on this and tell to themselves that using a smartphone can allow a governments to keep an eye on the society.

Mha 601

Name: Erika Hernandez MHA601:    Principles of Health Care Administration Professor: Alisa Wagner Date: March 4, 2013 Avoiding Errors in Healthcare Management The health care organizations, managers develop new ways to address these errors among the postmodern and complexity adaptive systems (CAS). Managers must develop strategies for advantages of learning that if change is applied to our management skills in which is being implemented by the postmodern and complexity adaptive systems to become production. They are being faced with many challenges in any situation at our everyday employment or job setting.They must be able to determine what is correct when making decisions while knowing and learning to do what is right for the health care organization. In this assignment, I will cover the ten error scenarios and the explanation on why they are errors in healthcare management organizations. The first error that I will explain is failing to accountability for employee to learn safe machine operation methods by experimenting on their own. This error will allow them to exclude a step by step process, which a step by step process is what makes the organization operate at its best.I believe that the employees will benefit and develop their own way of processing these machines operations to better their job performance. Keeping a minimum routine can reduce the quality of product. The second error is training all employees with the same orientation program regardless of the cultural interpretation. In the United States, we live in a huge diverse world as time changes and also we retrieve the information given to us differently as well as how we interpret the information. The main point of managers is not to compare or contrast any situation, but to correct the way of everyone’s training.Our text mentions, postmodern and complexity adaptive system that both of them address problems between what people observe and what they think things should be. The next erro r is disciplining one employee, expecting a modest change in behaviour but getting a union response. The quality of relationships within a healthcare organization may be more important than the quality of the people, because healthcare organizations are essentially relational in their structures, processes, and functions (Stroebel, 2005).Healthcare organization relies greatly on the influence of the employees to establish a great relationship within the organization. An example would be having a great relationship with the patients and families as well. Another error is changing a work process without considering the role of communities of practice on the work performance. In this error, the employee with a disciplining can be a reflection of a change in the work place setting. We as managers must develop strategies on any change without the employees initiating and the outcome could be to better the organization.Healthcare management plays a huge important role that for them to kno w what their role is and how to execute their role and to receive the best outcome is hard work. The next error that I will discuss in addressing is assuming that employees will not reallocate work assignments based on their perception of the best arrangement even after receiving work allocation assignments from managements. If managers do not receive the correct information in the allocated time, they do not understand the dynamic of satisfying our clients.Being organized is the most important thing that can be handled properly to assure the best way for our organization. Another error is ignoring the speed of informal messages as they fail to manage rumours in a productive manner. We can provide an environment of psychological safety that will help workers develop an attitude toward innovation that enables them to act with a presumption of personal and professional confidence (Edmondson, 1996). This error can mean generating a negative energy throughout the health care organizatio n and by providing positive environments can create positive production.The next error is failing to treat the organization’s dominant logic as an emergent property of the system, instead treating it as something that can be imposed on the system. In this error, we must prepare ourselves of what is we are going to receive as sometimes we do not want to know what the outcome really would be. In our hospital, we are having some of these errors that now they are being planned to better our organization for the best of the employees. Next, we have looking for one bad apple in a group as a strategy for improving work quality while the quality of output may be an emergent property of the group can also be an error.This can lead to paying attention to the irrelevant things that exist in the organization. For example, we set up control systems and end up watching the control system instead of the systems (Weick, 1985). The fact that the release of the any new product may change the m arket in such a way as it makes the market analysis incorrect. Our world is continuously change the ability to respond creatively to market analysis can lead to unexpected situations either to any healthcare setting organizations.I think by creating an environment where the whole people would feel free to discuss both the positive and negative outcomes of unintended events, and where the sharing of ideas is seen as a way to leverage new things in unexpected ways. Complexity science and postmodernism concentrate on â€Å"transforming the space of the possible. †    (Johnson, 2010). The last error of discussion is offering a premium to internal workers for extra production without expecting the change in rewards structure to affect relationship with suppliers.This is an error that provides incentives for the internal workers to provide production. Great managers are about making changes to bring the best out of our workers and giving them a pat on the back as to showing them what a good job they have been doing and recognizing their employees. Considering different ways on expecting and assuming what is giving this can open the organization up to better planning in the future. In conclusion, these ten scenarios as errors can lead to critical concerns within an organization that managers must develop strategies for advantages of learning.Managing healthcare organization requires being creative and helping people to do good things. Any decision making can be a key component to operating a great healthcare organization. As the change is applied to our organization the management skills will be implemented to the postmodern and complexity adaptive systems to become productive in the organization. References Edmondson, A. C. (1996). Learning from mistakes is easier said than done: Group and organizational influences on the detection and correction of human error. J Applied Behavior Science. 32(1):5–28. Johnson, J. A. (2010).Health organizations:    Theory, behavior, & development. Boston: Jones and Bartlett. ISBN: 9780763750534 Weick, K. E. (1985). Cosmos vs. chaos: Sense and nonsense in electronic contexts. Organ Dyn. 14(2):51–64 Bird, K. , Kundu, A. & de Lujan Perez, G. (2010). Using Deming’s principles to create the next generation of healthcare leaders. The Journal for Quality and Participation, 33(2), 15. Retrieved from the ProQuest database. Swedish, J. (2009). Leadership: Meeting the demands of the times. Frontiers of Health Services Management, 26(2), 31. Retrieved from the ProQuest database.

Competitor Analysis Research Paper Example | Topics and Well Written Essays - 1250 words

Competitor Analysis - Research Paper Example They also provide financial services to customers. The revenue of the automotive sector comes from sales of the vehicles and associated parts and accessories. The company treats marketing and sales incentives as reduction tool for revenue. Majority of the vehicles are transported from the manufacturing plants to customers directly. The vehicles are also put into repurchase option. The revenue from financial services stems from the interests that are generated on the receivables. It also includes the deferred origination costs, which comprise reduction in financing revenue (â€Å"Annual Report 2012†). In 2006, Ford had borrowed $23 billion for restructuring the company, according to the CEO standard. This had created concerns among the investors, even though the company did not file as bankrupt, like its fellow competitors. However, the company has shown effort in reducing total debt to $14.5 billion by the end of 2010 (â€Å"The Bull Case For Ford Stock†). The company has announced to liquefy the fund of a trust, established by them long back, in order to repay $ 5 billion. Chief Financial Officer of Ford has exclaimed that the company has concentrated on reducing the total debt, so that they can strengthen their business and gain trust of the investors. The company has said that the payment made towards elimination of debt has reduced their interest payment to $190 million annually (â€Å"Ford Motor Company Stocks Rise as Debt Decreases†). The best news that was provided by the company at the end of third quarter of 2010 is that the cash generated from automotive operation was $ 2.6 billion and it retired $7 billion of debt which lowered their annual interest payment (â€Å"Ford Is Slowly Climbing Out Of Debt†) In 2008, the company had to encounter major issues regarding the sale of Ford Five Hundred. They had anticipated the vehicle to be a success in the market. However, styling and

360 Report of Guccio Gucci in China Coursework Example | Topics and Well Written Essays - 1500 words

360 Report of Guccio Gucci in China - Coursework Example These strategies include: advertising, craftsmanship, public relations, a touch of mythology, and word of mouth (Marketing Mentor, n.d.). In order to develop effective marketing campaing in China, it is vital to understand the luxry market in China and consumers’ behavior. The Chinese luxury market is huge and is projected to grow by 18% annually from 2010 to 2015, exceeding 20% of the global luxury market (GroupM and CIC 2011). Luxury buyers in China value the status they gain by wearing luxury goods. Chinese consumers like to show their off their shopping achievements and purchasing power. That is why sharing of shopping experience is common in the luxury segment (GroupM and CIC 2011). By developing a business expansion strategy in China, Gucci’s marketers have to focus on the top domestic markets by RMB 10 million-plus population. These cities inlcude: 1) Beijing, 2) Guangdong, 3) Shanghai, 4) Zhejiang, 5) Jiangsu, 6) Fujian, 7) Shandong, 8) Liaoning, 9) Sichuan, and 10) Henan (GroupM and CIC 2011). See the map below. Fast growing luxury market in China captures consumers with different motivations and behaviors. In order to develop effective marketing strategy for this Asian market, Gucci has to consider the purchase drivers common for Chinese luxury consumers. There are indentified four major segments of Chinese luxury consumers: aspirational buyers; quality pursuers; status seekers; trend setters (GroupM & CIC, 2011). Aspirational buyers are mainly white-collars and college students who are very sensitive to price and tend to purchase accessories of famous luxury brands. The purchase drivers include: brand awareness, style and design, and price (GroupM & CIC, 2011). For Qaulity pursuers quality and fine workmanship are the major criteria while purchasing the luxury brands. The purchase drivers include: quality, price, style and design (GroupM & CIC, 2011). The third category of Status seekers implies

Feeling after concert Essay Example | Topics and Well Written Essays - 500 words - 2

Feeling after concert - Essay Example Well, the artists made a perfect blend of features of each continent with a rich European music. It embodies a new way of cultural collaboration. At the concert, I had so much fun. I literally sang my heart out to my favorite playlists. I sang every word, danced my heart out and let everything loose as the World Percussion Ensemble performed their songs almost to perfection. In fact, I arrived at the concert hall at 7 pm, just to ensure I did not miss their first song. It would have been disappointing had I arrived late. Luckily, the concert began ten minutes after eight. What a relief! Nonetheless, it is unimaginable how fans would go wild as they screamed to their favorite tunes. Well, at first it may seem scary. However, the fun in the concert theatre drowned the screams. It is indeed memorable to witness how so many people could gather for music. When the artists kicked off the revelers were already on their feet. The theatre hall was pumped and one could literally feel the excitement of the audience. Besides, the fans were singing along too! I must have lost the number of counts the lead vocalist Njamy Sitson, let the fans finish a line. It seemed like giving the crowd an opportunity to savor their favorite songs. It was fascinating when Walter Lang, the composer, asked everyone to put their phones away and to just live in the moment. Besides, that night had been all that we had. Every performance was a goose-bump. At one point, Marco Lobo, the Brazilian magician in percussion removed his shoes to the thrill of the audience. Currently, I am in a state of a hangover---seven days after the concert. At the end of the show they promised they would be coming back soon to Columbia after a number of tours across the world. Although the band is made of people from diverse cultures, they confessed that they received much support from the audience than other places they have performed before. I was more thrilled and

I dont have topic on mind you can choose an easy one Research Paper

I dont have topic on mind you can choose an easy one - Research Paper Example Plagiarism is a prevalent but disturbing subject in academic societies all over the world. Many students today plagiarize past papers as well as various research papers when writing their research papers or assignments.  There are even websites that have been established to deal with the sheer need of students for people to help them in locating sources for their academic assignments. There are many websites today that allow students to pay complete strangers to do their assignments for them (Perelman, 128). Plagiarism was formerly simply referred to as copying. It was still as frowned upon as it is today, but the word plagiarism carries greater weight than the word ‘copying’. Many tertiary institutions punish students who engage in plagiarism; but this has not really dissuaded the practice. In fact, plagiarism appears to be on the rise. ‘Copying’ was not considered to be a serious issue before 1700 A.D. This is because prior to 1700 A.D., any written mate rial that was in existence was not considered to be the personal property of others, but as special messages of God. Therefore, any person who copied written texts was not considered to be trying to pass another’s work as his own, but just to be imitating the written work. In England, the first law against copying the works of others was passed in 1710 (Kantz, 83). This development is thought to have come about as a result of the developments of the printing press. The Protestant reformation also began to recognize the value of individual ownership. Although there was a lot of objection to the new law outlawing ‘copying’ another’s work, it would become more accepted in the 1890s. The word ‘plagiarism’ comes from the Latin term â€Å"plagiarus† which means â€Å"abductor† or â€Å"kidnapper†. Even though it is ethically wrong for a person to portray the ideas and concepts of others as his or her own, the laws concerning wha t constitutes plagiarism are hazy at best. For instance, one would be forced to say that in ghost writing, which is an accepted form of authorship in literary circles, the author that lends his or her name to the ghost writer is ethically wrong if plagiarism is strictly to be defined as taking credit for another’s work. Additionally, all movie stars who hire writers to write their acceptance speeches, or even politicians with writers in their payroll can also be said to be engaging in a form of plagiarism. This is because in reading their speeches, these celebrated people take credit for another person’s ideas and thoughts by passing these speeches as their own. Another kind of plagiarism that is not penalized in literary circles is â€Å"honorary authorship† where an overseer of a laboratory who hardly contributed at all to the research is mentioned in a research paper as a co-author. Another variety of plagiarism is in government circles where higher ranking o fficers use documents written for them by their subordinates and pass them off as their own. It is quite unreasonable to stress to students that plagiarism of any kind is wrong and will be penalized when here is a very different reality in the working world. The real world has a serious problem in overlooking different types of plagiarism while students are penalized even for insinuating ideas that their lecturers believe

An Analysis of the Fourth Amendment Research Paper

An Analysis of the Fourth Amendment - Research Paper Example The conduct and practice of the authorities was consistent with the view that the authorities had unlimited powers over all their subjects and could search their private residences at their own whims. Legal scholars and historians connect the origin of the fourth amendment to the old English law, which was equally challenged on the grounds of the excessive powers wielded by the King in searching or arresting persons suspected of certain violations. The fourth amendment was viewed as a culmination of critics of the search system who insisted that the authorities and the executive should be guided by very specific limits when conducting searches on private citizens (Galiano 26). On this matter, some of the issues that attend to the subject of the searches include the motives under which the authorities may act when executing their searches and the capacity of the limitations that should guide the entire search processes. The amendment was considered as a restoration of the rights to pr ivacy of citizens and the limits for action on the part of state officers and other parties acting for and on behalf of the executive. General warrants had allowed the executive to selectively apply the law in ways that suited the limited or political interests of the executive. As such, it was necessary for the state to revamp the constitution in ways that laid structural obstacles in the possibility of misusing the law to suit the private interests of the political class. Increasing concerns that the general warrants had permitted the executive to suppress the opposition and muzzle the media led to the protests and criticisms that eventually culminated in the abolition of the general warrants. The general understanding of the fourth amendment is the validity and force of a warrant can only be obtained through the sanctioning of the judiciary. Effectively, the amendment altered the powers of the executives by determining the specific details upon, which a warrant may be sought and the manner in which it may be applied in order to meet the thresholds of legality (Maclin 58). The curtailing of the powers of the executive through the abolition of the general warrant is one of the important features of the fourth amendment. On this score, it might be argued that the determination of the rights of the citizenry as brought about within the warrant entailed the structural revision of the systems that had allowed and condoned the adoption and application of warrants in unspecified ways. The limitations of the traditional systems gave room to the abuse of office since the executive could engage in suppressive or oppressive activities in ways that promoted the denial of rights to the citizenry. The Fourth Amendment stipulates the conditions under which warrants may be permissible (Taslitz 39). One of the fundamental features of the Fourth Amendment is that it foregrounds the condition of reasonability in the execution of a legal search or arrest. The Amendment explicit ly outlaws any forms of unreasonable searches, which in effect affirms that value of human freedom and the expression of individual privacy as key factors that require the protection and safeguarding by the government (Schulhofer 66). On this matter, it becomes

Do cell phones cause cancer Review the science about the potential Essay

Do cell phones cause cancer Review the science about the potential hazard to human health - Essay Example hildren and adults, and the actuality that these phones emit radio- frequency waves, researchers and health specialists have raised concern about the safety of cellular phone utilization. With regard to cancer, the focus is on whether the users of cell phones are more prone to the risk of brain tumors and other tumors in the neck and head area. The radio frequency waves from cell phone are given off through the antenna. The nearer the cell phone is held to the head, the closer the antenna and a greater exposure to radio frequency energy of the person using the cell phone. A number of factors affect the quantity of radio frequency waves absorbed by the brain, including: total time the person spends on phone, as different phones emit different amount of waves therefore the model of phone being used, how close the phone is held to the head, and the amount of cell phones a specific area at the time. Public health specialists and researchers throughout the world are busy in vigorous discussions concerning whether radiation from the cell phones lead to brain cancer or not. The early studies of short term cell phone use did not find any evidence for augmented risk of brain cancer, but the studies conducted for long-term cell phone utilization, have instituted a greater risk of developing two types of brain cancers on the ipsilateral side, that is, the side of brain on which the mobile phone is mostly held. The two types of cancers are: A multinational case-control study was developed by the International Agency for Research on Cancer (IARC), in the late 1990s. It was named â€Å"INTERPHONE† and its purpose was to attend to rising public concerns about the safety of cell phones which were becoming very strong. The objective of the INTERPHONE case study was to look into and determine whether the radio frequency radiations which are emitted by the cell phones are carcinogenic. Thirteen countries were participants of this project and the study took place from year 2000 to

Managing Human Resources-DB 1 Essay Example | Topics and Well Written Essays - 500 words

Managing Human Resources-DB 1 - Essay Example Mott, Shorser, Sprecher, and Stephen believe that Sears has demonstrated a commitment to fostering independence for people with disabilities. "There are no restrictions. They dont hold you back; Ive had four promotions in five years. (Annenberg Foundation, 1994). 1. People who have a disability are impaired in their daily ‘major activities.’ This can represent difficulties in mobility, sight, hearing and a number of other areas. It does not include alcohol or drug impairment, however. HR can be regarded as a legal watchdog in an organization—insuring that people observe the rules and don’t cross any legal boundaries, or it can serve as a source to find, motivate and promote the best class of employees for the company. The ADA compliance story at NL&C is not one of legal problems—the employees interviewed felt that they were fairly treated. Rather, it is a question of finding a group of people who can be motivated to perform above-average work and therefore lift the results of the company. Whereas it was difficult to provide aids for the handicapped in the past, new technologies have made it possible for NL&C, along with all other companies, to bring specific technology to bear at little additional cost. Some of these improvements include: In addition, jobs are now being created or redefined in a way that makes it easier and less expensive to make accommodations for the handicapped. Telecommuting, telemarketing and telephone customer service are now much easier to implement as the tools become ubiquitous. Those employees with difficulty in movement, driving or needs to stay close to a home support system are now able to participate fully in the work environment, and even to communicate with their colleagues with their ‘virtual’ presence. Washington University. (n.d.). Working Together: People with Disabilities and Computer Technology. Retrieved August 26, 2007, from washington university:

How Successful are Organizations Related to Assisted Suicide in the US Research Paper - 1

How Successful are Organizations Related to Assisted Suicide in the US Attempt to Polarize Public Opinion Through the Use of Language in Their Campaign - Research Paper Example In some European nations such as the Netherlands, euthanasia is accepted in some circumstances. The Dutch government has even discussed how physicians who agree to kill their terminally ill patients can be kept from being held responsible for their deaths. Over the past three decades, â€Å"American law in many states has given its citizens more rights over the events that take place in their own lives† (Amarasekara and Bagaric, 399). One of these rights is the right to determine when to discontinue medical procedures that will sustain their lives. The difference between euthanasia or mercy killing and the rejection of medical treatment has not been discussed at depth in public forums. Basically, the frequently used expression of the "right to die" mucks the distinction. In addition, the mass medias exposure of individual cases of euthanasia simply serves to distort the difference between public policy and a private act. There exists a distinct difference between â€Å"what a person might feel is practical in a particular case and what would really occur in the offices of physicians and other medical practitioners if euthanasia and assisted suicide became an accepted medical procedure† (Appel, 2). This topic is of the great significance as the public opinion polls, which always confront this issue by considering whether the members of the public think they will seek this way out if they were struck by a painful terminal illness, usually do not confront the issue of what it would mean if killing was made to be an acceptable practice that can be carried out by medical practitioners without fear of being prosecuted. Assisted suicide takes place when one individual helps another to take his or her own life, either by offering the instrument to commit suicide or by other basic steps. Euthanasia involves direct procedures, like a lethal injection, administered by one individual to end another individuals life.

Rural Lives Versus Urban Lives Essay Example for Free

Rural Lives Versus Urban Lives Essay Urban and rural living each have their own benefits and drawbacks. A person’s personality, work status, financial situation and his or her age may influence the choice of environment where he or she likes living. In my opinion, the rural life is somehow suitable for the elderly people’s lifestyle while the urban life always inspirit the way young people live. It‘s easier and more comfortable for old people to keep up with the rural style in daily life. Firstly, cities are more crowned and faster-paced while rural living is often more relaxed and less congested. The slower pace of rural areas provides a sense of community and the openness makes people seem accessible to each other. Secondly, cities have fewer homes with yards, but those living in rural areas have more access to open space and nature. A close link to the nature is considered as the most important part of old people’s lives. In contrast, cities have state-of-the art skyscrapers and office that serve to create walls. Finally, cities are a hub for industrialization. There are more factories and businesses, making the areas more polluted. Additionally, the increased population in cities makes the ground more likely to be marred by litter and heavy use. These would have a bad influence on elderly resident’s health. Read more:Â  Rural Area vs Urban Area Living in a lively city is always a sparking desire of young people. City life gives inhabitants the ability to be exposed to more culture. Museums, theatre, and monuments are often easily accessible in cities. Additionally, most cities have a broad range of multicultural restaurants accessible by public transportation or walking. In contrast, entertainment in rural areas may be more limited or require travel. These conveniences are main attractiveness to young people and let them try to become a complete urban resident. City life, like rural life, has its share of advantages and disadvantages. People’s lifestyle choices which are different in separate stages of people’s lives dictate where they choose to live.

Critique of how to fix financial reporting

Critique of how to fix financial reporting This report has been taken from businessweek and is written by David Bogoslaw. He is a graduate form the University of Columbia. His main field of research and reporting includes energy, chemical industry, science and culture. The basic aim of this report is to identify the loopholes in financial reporting and find solutions to improve the transparency in it. In the wake of current crisis the report has much importance as some of the causes of this recent turmoil I context of financial reporting are discussed. The report suggests that a major overhaul of the global financial reporting frame work is required. Although many reforms and some basic structural make over are needed but main focus of the report remains the transparency and accuracy in financial information. Bogoslaw claims that one of the major fact behind this financial crisis is the risky investments which has forced the paper based financial derivative economy to collapse. Banks and mortgage landing companies are the worst victim of this current financial crisis as they have failed to recognise the risk in their products because of the complex nature of the products. The report also tells that some confusing accounting practices have misled the investor by giving wrong and biased information. Most of the financial annalists are regulators are agreed on the basic principle to get the investors confidence back all the financial institutions will have to improve transparency in their reporting structure. The author has focused in four major areas where he believes that the financial management of any firm have to look for loopholes and work out the possible solutions to fix them. According to Professor Paul Miller who teaches accounting at the University of Colorado, its time for companies to change their view about capital markets. In the past three decades they have successfully identified some of the major elements for their growth and success but they have failed to recognise the importance of one very important factor. They have managed to build customer loyalty and employee support through better care and incentives. They have also adopted just-in-time supply chain management and effective use of information technology has developed good communication with their suppliers. But he thinks that most of the companies have failed to recognise the importance the forth factor which is capital market. Miller argues that a firm must inform capital market about prospective cash flow and intended use of the gained capital. He argues that little or biased information will have negative effect of firms reputation. In his views managers in the capital markets are competent enough to figure out any doubtful financial information provided by the company and are in a better position to take decision about the investment. William Isaac who has been chairman of the Federal Deposit Insurance Corporation in mid 1980s blames FABSs 15 years old rule which requires assets to be valued at their current market value. He believes that this rule puts companies in a difficult position to use this rule when the value of their assets has a temporary decline. This further forces the company to write down their asset values and thus equity is destroyed. But SEC and FASB have developed a new way to over come this by allowing companys top management to use their own financial models to value assets when their value has a huge decline in the market. Miller also focuses on making derivatives more transparent. He argues that its time to regain the investors confidence for financial stability. He believes that some of the financial reporting practices have to be reformed. Off -balance-sheet financing and pension fund accounting practices under U.S GAAP have to be reformed. IASB and FASB are working together to improve the qualitative characteristics of financial reports, they have successful in the formation of FAS 158 under which pension fund assets and liabilities are shown on the firms balance sheet as net amount instead of in footnotes. In his views, banks now have to introduce plain-vanilla investment products. Kenneth Scott who is a professor at Stanford University thinks that trust for securitized assets like CMO,s can only be gained by improving transparency among these assets as the current structure of these assets is very complex e.g;CMO,s CDO,s and CDO squared mixed up and they confuse the investor. The complex structure almost made it impossible for asset managers to calculate the losses in all these assets. Scotts suggests that to improve the transparency for these complex structured securitized asset there is need of a basic data bank. He thinks that this is the time for us to realise the need of an electronic financial reporting system. A data base which get all the related financial information and process it to make information more accurate and useful, this will further reduce the uncertainty. To achieve this, credit rating agencies can contribute much as they already have data collected which they use to identify the amount of risk associated with individuals and companies when it comes to financial decision making process. Philip Moyer who is chief executive of EDGAR online, emphasis the use of electronic data base formats. According to him this will give analyst and regulators more time and freedom to analyze the data. XBRL is one the most successful software used by many countries to analyze and compare companys financial data with much ease. One the other hand Cindy Fornelli, who is executive director of the Washington based Centre for Audit Quality, says that investors need to get more access to tools which can help them to understand deeply the financial statements of any company before making any investment decision. CQA has recently completed a year and half long study which was focused on the possible ways to improve the financial reporting structure. The key participants were investors, company officials former chairman of SEC and a state Attorney General. They suggests that financial reports should identify the key performance indicators for the industry in which the firm is trading. This will enable the investor to compare this with other companies and the overall condition of the industry. Introduction I have been asked to write a critique on David Bogoslaw report how to fix financial reporting. This report has been published in Business Week Online and is important in context of recent financial crisis. Bogoslaw has carefully presented the views of some of the major finance and accounting professionals. Almost 95% of the report is based on the views of these professionals. This report is also a study in the financial crisis and the role of financial reporting in this regard. First I will analyze the key substantive issues raised by the article and then will check the overall reliability of the stated facts and criticism about financial reporting. Substantive Issues The report How to Fix Financial Reporting has four main substantive issue to look at and they are as follows: Complexity in derivatives Capital market ignorance Role of electronic financial reporting Off balance sheet financing Complexity in derivatives One of the major element which has shaken the investors trust in the capital market is the complexity which lies in the derivatives. They confuse the investor and it becomes almost impossible for an investor to judge the risk involve in these products. On the other hand Kenneth Scott who is a professor at Stanford University thinks that trust for securitized assets like CMO,s can only be gained by improving transparency among these assets. The current structure of these assets is very complex as CMO,s CDO,s and CDO squared are pooled together. The complex structure almost made it impossible for asset managers to calculate the losses in all these assets. Bogle et al (2009),suggests that in a risk aware culture banks and other lending or mortgage originators must consider the creditworthiness of the borrower. Transparency enables investors to have a reasonable basis for their views and reveals existing and potential conflicts of interest. It is suggested by the report that to get the investors back on track banks now have to introduce plain-vanilla investment products for a short period of time. This seems obvious as banks are mostly hit by this global economics slow down. According to Derman (2009), banks now have to take time to consider the risk involve with any kind of decision. This can be achieved by reducing the complexity in the financial products. As plain vanilla products are less complex so the investors are more attracted to less complex products as they believe that they are well aware of the risk involved in these products. Scotts suggests that to improve the transparency for all these complex structured securitized asset there is need of basic data bank. To get such a data bank which have all the information regarding all these asset pools is very difficult. Capital Market Ignorance The report suggests that companies have failed to recognise the real importance of the capital market. The relationship between firms financial management and the capital market is very important for the success of any firm. According to Professor Paul Miller who teaches accounting at the University of Colorado, its time for companies to change their view about capital markets. In the past three decades they have successfully identified some of the major elements for their growth and success but they have failed to recognise the importance of one very important factor. They have managed to build customer loyalty and employee support through better care and incentives. They have also adopted just-in-time supply chain management and effective use of information technology has developed good communication with their suppliers. But he thinks that most of the companies have failed to recognise the importance the forth factor which is capital market. Miller argues that a firm must inform c apital market about prospective cash flow and intended use of the gained capital. He argues that little or biased information will have negative effect of firms reputation. In his views managers in the capital markets are competent enough to figure out any doubtful financial information provided by the company and are in a better position to take decision about the investment. Role of electronic financial reporting This has been suggested in the report by Scotts that one of the possible way to achieve transparency in some complex structured securitized assets is by using a basic data bank. He thinks that this is the time for us to realise the need of an electronic financial reporting system. A data base which get all the related financial information and process it to make information more accurate and useful, this will further reduce the uncertainty. To achieve this, credit rating agencies can contribute much as they already have data collected which they use to identify the amount of risk associated with individuals and companies when it comes to financial decision making process. Philip Moyer who is chief executive of EDGAR online, emphasis the use of electronic data base formats. According to him this will give analyst and regulators more time and freedom to analyze the data. XBRL is one the most successful software used by many countries to analyze and compare companys financial data with much ease .most finance executive accepted the Sec mandate on XBRL. Although this software is really helpful in representation of financial data but company has to consider some critical issues in using these products. According to Stuart(2009), its companys own responsibility to validate data. Finance staff should make sure that the tags in XBRL should match taxonomy and the underlying 10-Q or 10-K before it goes off to SEC. XBRL has a framework which guides companies to prepare financial statements according International Accounting Standard. This has been shown in the fig1. source: http://www.xbrl.org/taxonomy/int/fr/ias/ Off-balance sheet financing and operating lease Off-balance-sheet financing has been criticised by Miller in this report. He believes that companies take advantage of the current GAAP rules when it comes to the operating lease. He believes that some of the financial reporting practices have to be reformed. Off -balance-sheet financing and pension fund accounting practices under U.S GAAP have to be reformed. IASB and FASB are working together to improve the qualitative characteristics of financial reports, they have successful in the formation of FAS 158 under which pension fund assets and liabilities are shown on the firms balance sheet as net amount instead of in footnotes. Finance directors prefer operating lease as it makes their balance sheet shrink. As a general rule-of-thumb a lease does not have to be capitalised so long as the net present value of the lease liabilities amounts to less than 90% of the actual value of the asset. According to Andrew Lennard of Britians Accounting Board the distinction between operating lease and finance lease is a fine line. If a lease is giving the company control like of ownership then the accounts should reflect that. So all the lease should be on the balance sheet. This can misled the investors and other stake holders like credit companies as if they capitalise their operating lease their gearing ratios will shoot up. But off-balance-sheet financing can be a useful tool. This compels the investors to look deeply into the some kind of off-the-book deals. But many companies are reluctant to provide such kind of information. So the key issue remains the disclosure (Feldman, Amy 2002). Validity of the implied criticism of corporate financial reporting To validate any of the criticism made in this article we have to look into the related literature and some the regulation which govern the financial practices in the market. The most important things to consider in this regard is the conceptual framework and qualitative characteristics of financial information. The qualitative characteristics of financial information defines four main characteristics in any financial information namely; reliability, comparability, understanding and relevance. The reports says that investors confidence in markets can only be regained by improving the financial transparency. So basically the author suggests that reliability of the financial information has to be achieved. For financial information to be reliable it must be free from errors. The presentation should be faithful and neutral. It has to be prudent and complete(Elliott Elliott 2008). The author believes that many companies have failed to provide accurate and complete information about their financial standing which is against the qualitative characteristics of financial information. The report also discuss the off-balance sheet finance and operating leases as the current structure of financial reporting makes it hard for a common investor to recognise and understand the firms real financial position. We again look this fact from the perspective of qualitative characteristics of financial reporting and come up with the answer that these practices reduce the understandbility of the information. The report emphasis that it is basic responsibility of firms management to keep capital markets informed about their financial standing. Deliberately biased information will effect the companys reputation and will have a negative effect on their over all performance. This comes under the objectives of financial reporting as governments and other agencies like capital markets are also the come under one the main user group of firms financial information in the form of financial statements(Elliott Elliott 2008) Conclusions: Although finance has never been a previous reporting filed for David Bogoslaw but he has produced a very good and comprehensive report on a very complex subject with the help of professional approach. The major part of the report consists of financial and accounting personalities of decent repute which makes this report more attractive. The report basically emphasis the need of more transparency in financial reporting structure. The four major areas of concern in this report are short shrift to capital markets, restructuring of complex derivatives, need for electronic financial reporting and some basic changes in accounting techniques. The author has been successful in sending his message out about the role of financial reporting in current financial crisis. Need for a basic financial data base has been conveyed in the report. This data base will not only speed up the process of financial reporting but also make this information more timely and reliable.

Importance of Internal and External Business Analysis

Importance of Internal and External Business Analysis Introduction In the current business environment in which we do exist, there is need for one to be dynamic in order to survive. The business environments, both internal and external are changing fast and swiftly hence not giving chance to businesses and people who are static. Therefore, in order for one to progress in the current business environment, one needs to identify his or internal strengths and weaknesses (Guy, 2009). One also should be in a position to identify the possible opportunities and threats and be in a position to capitalize on these threats by the strengths and weaknesses at hand. Knowledge of Strategy and Economics â€Å"Strategy is the direction and scope of an organization over the long term: which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations† (Guy, 2009). As the business environment becomes more difficult and competitive, there is need for companies and individuals to have strategies to aide them sail through. â€Å"A prescriptive strategy is one whose objective is defined in progress and whose main elements have been developed before the strategy commences.† (Skinner and Skinner, 2008). â€Å"An emergent strategy is one whose final objective is undecided and whose elements are developed during the course of its life, as the strategy proceeds.† (Abrahams, 2003). From the definations above, it could be seen that a prescriptive strategy provides clear set goals for a business. The prescriptive strategy would not be a good strategy for the agent as the business environment is changing. The emergent strategies would be most appropriates as, â€Å"Emergent strategy increases flexibility in a chaotic environment, allowing the business to respond to pressure and develop opportunities† (Cadle, Paul and Yeates, 2010). In a business environment that is constantly changing, forces or supply and demand constantly affecting the market hence price volatility. There are also imperfect market conditions meaning businesses could make either profits or losses depending on the sway of the market ((Cadle, Paul and Yeates, 2010). Agents should have good knowledge of this to allow the business to always be on the gaining side. Changing business Environment A changing business environment is expected for businesses that rely mostly on technologies and forces of demand and supply. The above-mentioned factors are not the only factors that lead to changes in business environment but there exist other factors. As an agent, one should have knowledge of these key factors, including globalization, rising incomes, rapidly changing technology, changing economic structure, e-commerce and skill requirement. The understanding of the business environment is a key aspect for any agent who would want to penetrate the business world. The above factors vary greatly thereby affecting the business environment accordingly. The agent should therefore use emergent strategies that enable a person to adapt in any changes in the external and internal environment. Changes in the price levels and changes in technology levels greatly affect the business plans and strategies. Agents should keep in mind such changes and be in a position to predict their changes in order to make appropriate strategies in the given industries. Strengths and Weaknesses Strengths of a person can either be analyzed as personal and professional. Professional strengths are those acquired through learning and experience thereby depend on the exposure of the agent. Personal Strengths are those acquired through the environment one has been brought up in hence are the characteristics of the agents. As an agent, the possession of various language skills enables one to be in a better position to communicate and express ideas better (Kaplan and Norton, 2001). As I possess knowledge in only one language, that creates a weakness that should be eliminated. My knowledge in numeracy skills gives me an advantage in the industry as I am in a position to interpret and predict key important factors in the business environment. The possession of moderate IT skills is both a strength and a weakness as I am not fully knowledgeable in the area but at least literate. Personal traits are also a key factor in the determining ones strengths and weakness. My interpersonal skills and self-organization increase my chances of associating well with the outside world. Time management is key of them all; this will enable me to strategies well and be in a position to predict the future in a right manner. A weakness exists in my risk taking ability therefore the need to avoid risk or learn on the best way to take risks. Connecting to the Environment Strengths could be seen as Numeracy skills, self-organization, time management and interpersonal skills. Weaknesses include risk taking ability, language and IT skills. Opportunities include changes in the price levels and changes in consumer preferences. Threats include globalization, experienced agents and rising in incomes causing inflation. With these in mind, I would opt for a job as a manager who would thrive to chief executive officer in time. Training in Information Technology and language skills will be of utmost importance. Communications skills will increase my employment base from local to international. Currently, with enough capital, the best business to set is the banking business. With increased rate of credit and reduced use of paper money, banking industry tends to be more profitable, (Abrahams, 2003). The best partners would be good financers and people who have special skills in the industry. I would pick them from all over but the first place to start would be from my friend list, as I know them better. Conclusion Analyzing of one’s strengths and weaknesses allows one to be in a position to capitalize on the opportunities and the threats available. Business Environment are known to change frequently due to various factors such as price and technology changes. Therefore, one should be able to choose the best strategy to implement in such a scenario. Emergent strategies are those strategies that can be manipulated with time unlike the prescriptive strategies that are set before the implementation process. For business that are changing, agents are advised to always update their education background and strategies in order to always fit whenever the turn the business may take. References Abrams, R., 2003.  The successful business plan. 1st ed. Palto Alto, Calif.: Planning Shop. Blair, A. and Hitchcock, D., 2001.  Environment and business. 1st ed. London: Routledge. Brooks, I., Weatherston, J. and Wilkinson, G., 2011.  The international business environment. 1st ed. Harlow, England: Financial Times/Prentice Hall. Cadle, J., Paul, D. and Yeates, D., 2010.  Business analysis. 1st ed. Swindon: British Informatics Society. Campbell, D. and Craig, T., 2005.  Organisations and the business environment. 1st ed. Amsterdam: Elsevier Butterworth-Heinemann. Cherunilam, F., 2010.  Business environment. 1st ed. Mumbai [India]: Himalaya Pub. House. Grote, J., Lang, A. and Schneider, V., 2008.  Organized business interests in changing environments. 1st ed. Basingstoke [England]: Palgrave Macmillan. Guy, F., 2009.  The global environment of business. 1st ed. Oxford: Oxford University Press. Kaplan, R. and Norton, D., 2001.  The strategy-focused organization. 1st ed. Boston, Mass.: Harvard Business School Press. Skinner, J. and Skinner, J., 2008.  Business plan, business reality. 1st ed. Toronto: Pearson Prentice Hall.

Darwins Theory of Natural Selection :: essays research papers fc

Charles Darwin revolutionized biology when he introduced The Origin of Species by Means of Natural Selection in 1859. Although Wallace had also came upon this revelation shortly before Origins was published, Darwin had long been in development of this theory. Wallace amicably relinquished the idea to Darwin, allowing him to become the first pioneer of evolution. Darwin was not driven to publish his finding, which he’d been collecting for several years before Wallace struck upon it, because he had â€Å"never come across a single [naturalist] who seemed to doubt to permanence of species† (Ridley, pp. 70). What follows are the key points of Darwin’s Theory of Natural Selection taken directly from the two chapters concerning it in his book Origins. In chapter III of Origins Darwin sets up his discussion on Natural Selection by establishing the struggle for existence in nature. By this he means not only an individuals need to fend of enemies and survive its environme nt but also it’s ability to create living, healthy, successful offspring. The first factor concerning this struggle is the ratio of increase in any given species. Darwin explains how this struggle must be occurring otherwise a single species would dominate the entire earth because every single one of it’s offspring would survive. This is due to the fact that every species reproduces exponentially, a rate that would soon produce astonishing numbers if left unchecked. This does not happen however, because nature has a system of checks and balances. Although we may not be able to detect these checks, we can see their effects by the indisputable fact that one species doesn’t completely dominate the planet. These checks consist of enemies eating the young or even adults, the rigors of weather or environment, and countless others. In this way birds, for example, cannot populate beyond their food supply, and the grains they feed on are held in check, because even thoug h they may produce thousands of seeds only a few are able to reach maturity. Darwin goes on to show how all plants and animals compete and relate to each other in this struggle for existence. He does so by relating various personal observations that show the introduction of a different species of plant or animal can have a direct effect on the present survival of the indigenous species and even allow other foreign species to proliferate. This leads to interspecies survival, which Darwin considers the hardest struggle of all, and the one that may have the greatest effect on the evolution of a species through Natural Selection.

The Role of Power in Obedience Essay -- Political Science Law Politics

To Obey or Disobey: The Role of Power in Obedience People’s decision to obey or disobey the law is based on how much power (in its various forms) they perceive the law to have behind it. The power of coercion is one maintained by every government in human history: the power to punish. The power of legitimacy is a much more subtle power: the power to appear as an authority and let others presume that you know best. While enforcing law, authorities will exercise both these powers. Both powers underscore government and society’s ability to control us and to get us to obey. Why do we obey? Stanley Milgram’s Obedience to Authority, a series of experiments in which subjects were told to administer what they believed to be high-voltage electric shocks to people who they thought were experimental subjects, shows us the disturbing extent of people’s obedience in the face of power. Whereas it was hypothesized that few of the subjects would actually shock their supposed experimental subjects, the actual experiments showed a â€Å"disturbingly high level of compliance with authority figures despite the apparent pain evinced by the false experimental subjects.† (Cover 223) Even when the false experimental subjects (actually just a tape recording of responses) screamed with supposed agony, the vast majority of the subjects, although showing some hesitation and concern for their â€Å"victims†, still nevertheless shocked them again and again at the behest of the authority, even after the â€Å"victims† had gone silent. (Cover 223) The almost blind obedience of these subjects was due to the power of legitimacy and expertise they perceived the authority figures behind the experiment to have. The 2 authorities were able to impose their will ... ...human, we will always retain our freedom of thought and our decision to obey or disobey. 5 Works Cited Cover, Robert M. â€Å"The Violence of Legal Acts.† Before the Law: An Introduction to the Legal Process. Eds. Bonsignore, Katsh, d’Errico, Pipkin, Arons, Rifkin. Boston: Houghton Mifflin Company, 2002. 223. King, Martin Luther. â€Å"Letter from Birmingham Jail.† Before the Law: An Introduction to the Legal Process. Eds. Bonsignore, Katsh, d’Errico, Pipkin, Arons, Rifkin. Boston: Houghton Mifflin Company, 2002. 158-162. Kropotkin, Peter. â€Å"Law and Authority.† Before the Law: An Introduction to the Legal Process. Eds. Bonsignore, Katsh, d’Errico, Pipkin, Arons, Rifkin. Boston: Houghton Mifflin Company, 2002. 158-162. Tyler, Tom. â€Å"Why do People Obey the Law?† Introduction to Legal Studies: A Reader. Ed. Thomas Hilbink. Amherst: Collective Copies. 475-495. The Role of Power in Obedience Essay -- Political Science Law Politics To Obey or Disobey: The Role of Power in Obedience People’s decision to obey or disobey the law is based on how much power (in its various forms) they perceive the law to have behind it. The power of coercion is one maintained by every government in human history: the power to punish. The power of legitimacy is a much more subtle power: the power to appear as an authority and let others presume that you know best. While enforcing law, authorities will exercise both these powers. Both powers underscore government and society’s ability to control us and to get us to obey. Why do we obey? Stanley Milgram’s Obedience to Authority, a series of experiments in which subjects were told to administer what they believed to be high-voltage electric shocks to people who they thought were experimental subjects, shows us the disturbing extent of people’s obedience in the face of power. Whereas it was hypothesized that few of the subjects would actually shock their supposed experimental subjects, the actual experiments showed a â€Å"disturbingly high level of compliance with authority figures despite the apparent pain evinced by the false experimental subjects.† (Cover 223) Even when the false experimental subjects (actually just a tape recording of responses) screamed with supposed agony, the vast majority of the subjects, although showing some hesitation and concern for their â€Å"victims†, still nevertheless shocked them again and again at the behest of the authority, even after the â€Å"victims† had gone silent. (Cover 223) The almost blind obedience of these subjects was due to the power of legitimacy and expertise they perceived the authority figures behind the experiment to have. The 2 authorities were able to impose their will ... ...human, we will always retain our freedom of thought and our decision to obey or disobey. 5 Works Cited Cover, Robert M. â€Å"The Violence of Legal Acts.† Before the Law: An Introduction to the Legal Process. Eds. Bonsignore, Katsh, d’Errico, Pipkin, Arons, Rifkin. Boston: Houghton Mifflin Company, 2002. 223. King, Martin Luther. â€Å"Letter from Birmingham Jail.† Before the Law: An Introduction to the Legal Process. Eds. Bonsignore, Katsh, d’Errico, Pipkin, Arons, Rifkin. Boston: Houghton Mifflin Company, 2002. 158-162. Kropotkin, Peter. â€Å"Law and Authority.† Before the Law: An Introduction to the Legal Process. Eds. Bonsignore, Katsh, d’Errico, Pipkin, Arons, Rifkin. Boston: Houghton Mifflin Company, 2002. 158-162. Tyler, Tom. â€Å"Why do People Obey the Law?† Introduction to Legal Studies: A Reader. Ed. Thomas Hilbink. Amherst: Collective Copies. 475-495.