Boom of Credit Cards

Charge cards have become such a natural element of the way of life on the planet that it is hard to envision a customer economy working without them. The charge cards are these days the most helpful of a wide range of installments. The blast of the charge card industry has influenced everybody in the realm of the â€Å"plastic money†. That was the name given to the Mastercard directly after it was designed. These days, the â€Å"plastic money† possesses a significant spot in the economy of the nation. â€Å"Settlements shows that the quantity of charge cards available for use expanded 34 percent between 1988†¦.. The information likewise show that the estimation of charge card exchanges expanded 98 percent during the equivalent period† (Yoo, p. s. 1997). A great deal of reasons clarify the way that the charge cards are holding the most significant spot in the wallet and handbags today. Behind these reasons , is concealing a vital social marvel that has extremely terrible results in the nation, charge card misuse. In spite of the measures taken by the authorities, insights demonstrate that the number is expanding ordinary. Today, Visa and Master card involve a significant spot in the Mastercard commercial center yet the pioneer in the business stays to be Diners Club. In 1949, as the lunch get-together tables were cleared at the Major†s Cabin Grill, a well known New York café of the period whose area nearby of the Empire State Building was then a significant resource, three men sat clustered over a prime table out of the way †¦. In their energy, they brought over Major, the owner and asked him the amount he would pay for business that he would not normally get. Without wincing, Major answered â€Å"7 percent† , number that built up a significant industry (Lewis, 1990). ' Those three men were Alfred Bloomingdale, Frank Mc Namara and Ralph Snyder. They imagined an arrangement for another kind of charge card. Not at all like the retail and gas Mastercards, which were limited being used to those businesses, theirs would be â€Å"universal† card that permitted its holders to buy merchandise and enterprises at better places the nation over. An industry was conceived, Diners Club As a self evident certainty, the period directly before the First World War, was the main year for another industry, the Mastercard business. Those first Visas were not so much Mastercards as they are today since they served distinctly for restricted requirements. They could be utilized distinctly on an exceptionally low level. The utilization of Mastercards by retailers started in 1914†³ (Lewis, 1990). Since that date there was an unfathomable development of charge card creation. Preceding World War I, scarcely any lodgings, oil organizations and retail establishments gave charge cards. At that point in 1931 the carrier organizations presented the charge cards in their business (Lewis, 1990). The advancement and the extension of the card went lide the speed of light. The most significant advance was the acquaintance of the charge card with the Internet in the 90†³s. Today, Web servers empower installments with charge card. A charge card exchange over the Internet is one of the most widely recognized kinds of installment. On the off chance that a trader has a record with a shipper bank that offers Internet Mastercard preparing, he would have the option to acknowledge Visa installment over the Internet (http://search. netscape. com). â€Å"There was an expansion of $78 billion more than 1994, in only one brief year. We†ve been following it since 1980, and we†ve never observed that sort of increment. † (Glenn, 1984, pp. 857-68). What are the reasons that clarify the quick increment of the utilization of the Mastercards? As one explanation that may clarify the marvel, a few people may believe that conveying a charge card is a lot simpler than having money or a checkbook in their wallets or handbags. There is no uncertainty that the â€Å"plastic money† doesn†t trouble in a wallet or a tote as a result of its little size. Another explanation that may clarify the charge card fever is that it permits its holders to go through the cash they haven†t got at this point. As a matter of fact, it would seem that free cash, in spite of the fact that it truly isn†t. That is the situation of the understudies who have Visas and whose guardians will pay the obligation their youngster has made. The most grounded contention that could be likewise the principle reason the t clarifies the expanding number of Mastercard exchanges is that a great deal of low salary people are conveying â€Å"plastic money† and are utilizing it generally however not shrewdly. At the point when the ideal opportunity for taking care of the funds to be paid comes, many individuals need more cash to clear their bills. Here is the start of a cycle that most likely will never stop (Kathy and Bill B. â€Å"s case) until the charge card organization or the banks understand that their customer†s obligation is developing each month. Prior to any response of the leasers, the obligation has arrived at a mind boggling sum. Because of a non-installment of the bills, the issues in the charge card industry started. Notwithstanding lost or taken cards and charging blunders, a wild marvel was conceived in the business, misrepresentation. Two significant viewpoints decide the extortion in the business, taken cards and the underground market made around the â€Å"plastic cash. † truth be told, falsifying Mastercards has taken a significant turn during the 60s. True to form, not long after they had initiated the spontaneous charge card programs in the late 1960s, the bank started to encounter noteworthy misfortunes because of misrepresentation (Lewis, 1990). Measurements demonstrate how quick the extortion went up in the business. In 1964, the U. S. Mail station examined just fifteen instances of charge card extortion. After four years, in 1968, that figure shot up to 360, and the next year, it dramatically increased to 762. In 1970, Andrew Brimmer, one of the Federal Reserve Board†s seven governors, demonstrated that bank charge card misfortunes had expanded 50 percent that year to $115. 5 million or $3. 4 percent of $3. 4 billion in extraordinary Mastercard obligation (Lewis 1990). In 1971, the Los Angeles Police Department made open its originally announced of duplicating charge cards. The forgers, two ladies and small time who obviously knew about at any rate one bank numbering framework utilized credible clear cards stock to succeed their activity (Lewis, 1990). The extremely quick presumption of the maltreatment in the charge card industry made the banks and the Visa organizations consider discovering arrangements that could stop this horrendous wonder. Since the significant wellspring of misfortunes in the business was taken cards, it was exceptionally hard for the Mastercard organizations to discover an answer that would stop extortion. The extortion in the Visas business had a significant effect in the economy of the United States, for example, money related misfortunes. In 1973 alone, Visas misfortunes were evaluated to be $288 million-or 1015 percent of the all out Visa deals (Lewis, 1990). The wrongdoing rate has increased four quarter in succession just because since 1991†¦.. Toward the finish of 1991, $3. 4of each $100 owed on charge card was reprobate, up eight percent from 1994 (Business Journal of Charlotte, 1996). Whose obligation right? In enormous part, the banks themselves were answerable for their proceeding with misfortunes. In their longing to advertise their cards as effectively as could reasonably be expected, they were hesitant to discolor the picture go the Mastercard by publicizing accounts of burglaries and misfortunes , so they concealed the data not to caution potential cardholders(Lewis, 1990, p. 8). The administration might be considered capable also in light of the fact that the administration issues cards to the individuals for government travel costs as it were. Sadly, those cards have been utilized for the acquisition of mixers, adornments and blossoms (Fritz, S. 1996, March 16). That is another â€Å"ugly face† of Visa misuse. The individuals who should assist the nation with overcoming the issues misuse escalate the circumstance. As the business was developing, the banks and the Visa ventures didn't think about any elective that would stop an inevitable extortion in the business. The absence of the executives was one of the significant wellsprings of the issue. As one arrangement that must be discovered, the Mastercards organizations concocted the made sure about Mastercard that permits the client to spend not more than what the individual has in their bank sparing record. That appeared to be a decent answer for stop the extortion yet lawbreakers are acceptable to the point that they concocted approaches to take advantage of conceivably rewarding business sector. By the mid 1970†³s, the Visa organizations introduced their own law authorization to battle Visa extortion, the Association of Credit Card Investigators (ACCI). The job of this unit o the Mastercard organizations was to have a superior administration of the developing number of clients. One measure started by the ACCI that demonstrated powerful was a mix of a post mailer with double dating on the Mastercard. A double dating empowers the Visa Company to defer the successful beginning date of the card until after it ought to have been gotten by the cardholder. The post mailer educated the expected cardholder that a card had been sent to the person in question and that the Mastercard Company ought to be informed in the event that it had not yet been gotten. Therefore to the significant estimates assumed by the acknowledgment cards organizations, 75% drop in misrepresentation in the primary years (Ventura, 1992). Another preventive measure received by the Mastercards organizations was an admonition announcement making the banks and shippers aware of deceitful cards. All the significant Mastercards organizations didn't support this sort of measure. On one hand, American Express, Diners Club felt that the admonition notices were important to control extortion just as the abuse of cards by delinquents and overspenders. Then again, Visa took the position that cautioning releases were a bit much and that sending postcard was sufficient. Insights demonstrated later that Visa was losing a higher level of its charge volume from extortion than American Express and di

Play within a play Essays - Economy, Politics Of The United States

Prof. P History 2010 07 September 2010 The Great Depression: America, 1929-1941 This book was composed by Mc Elvaine in 1993. His belief system of the Great Depression in the United States is a well assembling account, to a great extent ordered. In this interpretive history, the creator examines the causes and the consequences of the most noticeably terrible despondency in American history, covering the time from 1929 to 1941. Its accentuation is on individuals and legislative issues, with representations of Hoover and Roosevelt and portrayals of occasions and clashes in and around decisions, gatherings and groups, Congress, laborers' associations, alleviation programs, etc. He likewise looks at the reasons for this destructive occasion, its effect upon the American individuals, and the political, administrative, and social reactions to it. There's no genuine endeavor at financial history, there's not a solitary table of figures, yet the monetary discussions about the Depression and its causes are addressed in the initial sections. There's considerably more profundity to the social history, however that is for the most part drawn nearer from the point of view of organizers and projects; for the perspectives on customary Americans, McElvaine draws vigorously on the letters written to Eleanor and Franklin Roosevelt. There's likewise an (interesting to me) record of the Federal Theater Project and the other workmanship alleviation ventures. The creator jumps into mainstream writing and movies of the period to assemble a story of the open's evolving esteems, from rivalry based avaricious independence in the Roaring Twenties to participation based monetary moralism McElvaine endeavors were to put the Depression in the more extensive flows of US history, with a specific spotlight for huge scope, long haul changes in mentalities and qualities. This occasionally appears to be over-oversimplified, however gives his account a controlling system: the main genuine cumbersomeness accompanies endeavors to connect the Great Depression to current governmental issues. I don't wish to romanticize the Great Depression period as some brilliant time of collaboration and network, yet I do accept there are pertinent exercises to be gained from the manner by which networks reacted to the enduring of their time, especially as we remain on the moving sands of a bluff called breakdown Little foundation is accepted by The Great Depression ? I had no issues tailing it in spite of my scrappy information on United States history ? also, McElvaine's methodology makes for simple perusing. Just as making a fine presentation, it gives a premise to encourage increasingly specific perusing. I totally can't help contradicting McElvaine's methodology that Franklin Roosevelt's New Deal and Keynesian financial aspects didn't protected the country from all out calamity, however he likewise brings up that ...the changing blend of American qualities in the Depression-was of considerably more hugeness than was Roosevelt himself.(324) Roosevelt's plan would have fallen on hard of hearing and conceited ears ten years sooner, and it couldn't have prevailing without an adjustment in values in the American individuals that had the option to resound with the estimations of the New Deal. I hurry to include that I do accept that it was the New Deal that eventually hauled the country out of the downturn. As I would like to think the FDR organization and the New Deal spared private enterprise from the stun of its most exceedingly terrible abundances by being realistic, and not ideologically inflexible. I am not denying World War II and the starting of the military mechanical complex that did help and has kept on forestalling miseries and cover increasingly extended, less noticeable monetary and social bad form. The book finishes by reasoning that nothing the New Deal did ever restored the Depression (which just finished with the beginning of World War II), however that the rising estimations of Depression-time America laid the basis for the U.S. government we know today. However I think the creator's assessments are extremely uncovering, regardless of whether I don't concur with the greater part of them. The Great Depression was an extraordinary injury. I think it is critical to comprehend the time as it was in those days. To put it plainly, this book is a regarded investigation of the HISTORY of the Great Depression time, with a portion of the writer's liberal sentiments. The dates, realities, individuals and occasions are clarified altogether and in a manner that is anything but difficult to peruse. By and by, I think a decent account of Franklin Roosevelt is a superior spot to begin, yet this book

How to Create an ADHD-Friendly Home and Classroom

How to Create an ADHD-Friendly Home and Classroom ADHD School Print How to Create an ADHD-Friendly Home and Classroom By Keath Low Keath Low, MA, is a therapist and clinical scientist with the Carolina Institute for Developmental Disabilities at the University of North Carolina. She specializes in treatment of ADD/ADHD. Learn about our editorial policy Keath Low Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on April 19, 2019 ADHD Overview Symptoms Causes Diagnosis Treatment Living With In Children Compassionate Eye Foundation/Martin Barraud/Taxi/Getty Images Dr. Sydney S. Zentall, professor of Special Education at Purdue University, is an internationally known researcher in the education of children with ADHD. He focuses specifically on the preferences and responses of these students to specific learning conditions and environments and is the author of the book ADHD in Education. How Do ADHD Children Learn Best? According to Dr. Zentall, children with ADHD seek change/novelty and high-interest activities. They do best with an engaging active curriculum at school and an active home environment. Incorporating physical movement and motor activity throughout the day increases successes. When involved in a cognitive activity, children with ADHD often benefit from choices rather than solely adult-directed tasks. With their innate curiosity, these kids have a great potential for learning. The trouble arises when a child with ADHD becomes bored. The longer they have to attend to a task, for example, or the longer they have to wait for their turn, the more stimulation they need. In addition to this need for stimulation, children with ADHD also have a need to feel competence, both academically and socially. They tend to do well with activities that involve some competition which enables others to see how well they are doingâ€"earning rewards, badges, leadership opportunities or other symbols of achievement. Social Needs and Challenges Children with ADHD also benefit tremendously from social connections and relatedness to others. Social interactions are often their most important source of stimulation. If you are a teacher, your warm support and personal attention to these students are vital. Kids with ADHD also enjoy producing emotional reactions in others. They may be drawn to the children at school who cause more trouble and they often look for or try to provoke an emotional reaction in order to feel more stimulation. Because a loud or angry response from an adult or peer tends to be reinforcing for many children with ADHD, when you must convey disapproval or reprimand a child with ADHD, a nonemotional, calm, and matter of fact response is best. Creating an ADHD-Friendly Classroom Dr. Zentall has developed a checklist for parents and teachers to utilize in order to help children with ADHD appropriately fulfill their need for stimulation and competence. Goal 1 â€" Needs Stimulation (Movement and Choices) Movement among centers and seatsActivity breaksActive response tasksChoice of tasks and reporting methodsChoice of jobs and responsibilitiesChoice of learning groups Goal 2 â€" Needs Competence A. Academic Competence1. Tasks Reduced length (chapters)Self-pacedInterests used in instructionColor (overlays, markers, paper)Relevant color usedComputers providedTeach how to visually planMake global points and outlines 2. Settings Interesting centersUse of games in teachingAnimals presentMusic availableChecklists, prompt cards usedActivities or toys for delay time B. Social Competence 3 times more positives than negativesIntense, emotional rewardsPrivate, firm, soft reprimandsShow personal interest in childPeer activities with rulesCooperation is taught and rewarded Creating an ADHD-Friendly Home   Goal 1 â€" Needs Stimulation (Movement and Choices) Available paths to run, trampolines, poolsActive responsibilities that are “helpful”Available family activities (picnics, biking)Choice of homework setting and task orderChoice of jobs and responsibilitiesChoice of homework activity breaks Goal 2 â€" Needs Competence A. Academic Competence1. Tasks Flexible play materials (?Legos, paints)Support for pretend play, journalingBooks selected for child’s interestFamily conversations related to interestsSupport for collections/hobbiesComputers providedTeach how to visually planReduce verbalizations to the child 2. Settings Interesting homework settingsUse of games in getting tasks/jobs completedPets presentMusic available during homeworkChecklists, prompt cards usedActivities or toys for delay time3 times more positive statements than negativesIntense, emotional rewardsPrivate, firm, soft, nonemotional reprimandsShows personal interest in child and child’s friendsFriend activities with rulesStrict reasonable rules and manners are rewarded

Animals Used in Research - 1458 Words

The topic that I am choosing to examine for my paper is about animals that are used in research and the rights they they do or do not have. The reason that I chose this particular topic is because that it is a topic that is very significant to me. I am currently going to Delaware technical Community College to become a Veterinary technician. My lifelong dream has always been to help and save animals, Any creature great or small animals used in research, mistreated, neglected and abused is not something that sits to well with me and many other animal rights activist.. When it come to the moral ethics and moral status of animals these are problematic subjects. You are going to have two very opposing sides, some people are tolerable with animals being used in animal research because they feel that these animals have no moral status, they are not autonomous, and they are not sentient, and they are here for our misuse, abuse and consumption. The first theory that I will be looking a t is deontological theory of Immanuel Kant, and autonomy. Kant’s theoretical approach is that of an indirect theory. Indirect theories state that animals do not warrant our moral concern on their own, but they may warrant our concern as they relate to humans. I will also examine the direct theory approach of the Utilitarian theory in regards to animals and animal research. Animal rights has been an issue since man enslaved the first animal to do its bidding. For centuries philosophers haveShow MoreRelatedShould Animals Be Used for Research2686 Words   |  11 PagesProfessor Sophie Sills English 240 December 16, 2011 Should Animals be used for Research During the past ten years, a major controversy over the use of animals in biomedical and behavioral research has arisen. The debate about using animals for medical testing has been ongoing for years. The struggle is usually between animal rights activists and scientist. I believe that animal testing is imperative to the progression of medical cures, procedures and drugs. Scientists have been solving medicalRead MoreShould Animals Be Used for Research? Essay740 Words   |  3 Pages There are several types of animals being used for research, but not surviving the test. Animals are similar to human beings; they have hearts just like human beings. Researchers have absolutely no sympathy for these animals, including the vicious ones. All animals need some type of affection from humans, or else there is a high possibility the animals will not survive. Personally, animal researching should be banned, but doing so, the researchers would have to find something else or someone elseRead MoreAnimals Should Not Be Used For Biomedical Research1635 Words   |  7 PagesAnimals have been used from the beginning of time the ancient civilisations used animal testing to find answers to the unknown for example why do animals exist romans greeks simply dissected animals to have knowledge. Now days animals are used to understand basic human biology, so called â€Å"models† for studying human biology and disease. Improvements in human health, vaccines and medicines. Ano ther type of animal use is for cosmetics. Even though people believe that biomedical research is a wayRead MoreAnimal Experimentation Should Be Used For Research1600 Words   |  7 Pageswhether the practice of animals research should be used. Many people believe animals are needed for research, while others think it is not fair for animals to be sacrificed and treated poorly during research. Animals used for research has bettered many human lives by new discoveries and advantages. Many people such as doctors, scientists, hospitals, research institutes use animal research to view how the human body works and to advance in scientific understanding. The first animal experiment started inRead MoreShould the Animals Be Used for Scientific Research?1981 Words   |  8 PagesAbstract This research paper discusses the opposition side of my chosen topic â€Å"Should the animals be used for scientific research†. It will evidently elucidate why it is malicious for the animals to be used as scientific research. Animals cannot be compared to humans when it comes to finding out what product or drug is competent for human to use, because animals and humans have different hormones. It is also been proven with the drug thalidomide, that even though it has been tested on thousands ofRead MoreShould Animals Be Used For Medical Research?1872 Words   |  8 PagesShould animals be used in medical research? Should animals be used in medical research? Some people say that after so many historical experiences, this is beyond dispute, but I think this is the opposite. With the medicine science and technology developed, the uses of animals in experiments are become more controversial. With the technologies developed, human beings become more powerful and the intention to protect other creatures will be stronger and stronger. In fact, most of the time, some medicalRead MoreShould Animals Be Used for Research in the Cosmetic Industry?533 Words   |  3 PagesShould animals be used for research in cosmetic industry? Animal testing is widely used to develop new medicines and to test the safety of other products. These experiments can cause pain to the animals involved or reduce their quality of life in other ways. Animal experimenters are aware of this problem and agree that the testing should be made as humane as possible. While this practice has been followed for years now, some people still strongly believe that it is a cruel act and should be permanentlyRead MoreShould Animals Be Used For Medical Science Research?1321 Words   |  6 PagesIs the use of animals in medical science research justified? Should this be permitted? Why is it allowed that animals have to suffer so a human can use Windex or wear makeup? An estimated 26 million animals are used every year in the United States for scientific and commercial testing. Animal research testing is unnecessary to advance medical research any further. At one time when technology was not caught up with the rest of the world, it may have been useful because without animal testing, productsRead MoreShould Animals Be Used For Product Or Medical Research?767 Words   |  4 PagesThat’s what animals go through almost everyday. Animal medical research and animal testing has been going on for years and years and needs to be stopped immediately. They have lives just like us and are being treated like their nothing. Animals should not be used for product or medical research. To begin with, the behaviors of animals has become violent because of animal research. A 2013 poll showed that two thirds of respondents oppose testing cosmetics and other consumer products on animals. (â€Å"Is animalRead MoreWhy Should Animals Be Used For Medical Research?1520 Words   |  7 Pages Why should animals be used for medical research? Is it because some animals are similar to humans probably. Even though animals have rights they should still be used for experiments because if scientist experiment on humans and something go wrong they could kill that human being. That is why animals should be used for medical research because they have different blood type and cells from us. Something that can easily kill us might not kill an animal, so with that they can find a way to cure the

The Tragedy of Child Abuse and Neglect Essay - 1852 Words

Child abuse has been defined as, any intentional act that results in physical or emotional harm to a child. This could cover any behavior from assault, to neglect, to molestation. (Encarta 1) In 1995, a study was done by the National Center on Child Abuse Neglect. They concluded that in the United States alone, approximately 3 million children are victims of some sort of maltreatment each year. This means that an unimaginable amount of our county’s adolescents are being seriously mistreated, and the numbers are rising steadily. While the specific definition of child abuse may differ from state to state, the effects unfortunately do not. Physical maltreatment, neglect and sexual abuse create immediate†¦show more content†¦While the bodily harm that abused children suffer is unimaginable, the emotional damage can often be much worse. Maltreatment has been proven to be a major cause of dissociative disorders. For example, many times abuse victims take on multiple pers onalities to hide from their pain. (Morris 451) Also, in a study done by the National Institute of Justice, it was concluded that childhood abuse increases the likelihood of arrest for juvenile crime by 53%. (Breckenridge B3) Many of these children also follow the Intergenerational Transmission of Violence, where they learn violent behavior as a child and grow up to be abusive parents as well. In fact, about 30% of abused kids follow the same violent pattern with their children. (Encarta 2) In the 1960s, it was thought that fewer than 1000 children were physically harmed per year. It actually wasn’t until the 1990s when the matter of domestic violence came into the spotlight, and now it is known to be over 1000 times that amount. (Melton vii) Fortunately there are now more havens from abuse where adolescence can be counseled and educated about the wrongs they suffered. One of these centers, the Laurelwood Child Center in Cleveland, Ohio focuses on the recovery of child abuse victims. Although many of the patients at the center do grow up to better themselves, a good amount do not respond as well. In an article in The PlainShow MoreRelatedThe Child Abuse and Neglect Prevention and Treatment Act of 19741070 Words   |  5 Pagesdangerous and horrendous tragedy. One of the most horrific laws that people violate is that of child abuse and neglect. In 1974, the United States Congress passed an act that would provide the necessary laws and regulations that would protect those who have become victims of child abuse and neglect. According to this policy was meant to: â€Å"provide financial assistance for a demonstration program for the prevention, identification, and treatment of child abuse and neglect† (CAPTA of 1974 P.L. 93-247)Read More Child Abuse and Neglect814 Words   |  4 Pages Child Abuse Child abuse and neglect is frightfully high. As a country this is unacceptable. We need to come up with better ways to fight this â€Å"disease† before we destroy our children, our future. An estimated 903,000 children across the country were victims of abuse or neglect in 2001, according to national data released by the Department of Health and Human Services. The statistics indicate that about 12.4 out of every 1,000 children were victims of abuse or neglect, a rate comparable to the previousRead MoreIs Discipline A Child Abuse?969 Words   |  4 PagesIs Discipline Child Abuse? What does the word child abuse mean in your own words? Some people believe child abuse includes neglect, punishment, physical or emotional maltreatment. Child abuse is all over the world. Every day a child is either abused or neglected. Since the late 1900’s child abuse was commonly used in the United States (Gale). Now it is slowly coming to its ending point. Since 1992, only two states, Delaware and Oklahoma, have experienced consistent increases today. Is disciplineRead MoreChild Maltreatment And Its Effects On Children1640 Words   |  7 Pagesof unfortunate tragedies and wonderful surprises and learning to balance the emotions of each event. For some, life is more tragic than others and starts earlier than others. Children in particular are vulnerable to these tragic events because they are unable to properly defend themselves, depending on their size and communication ability. Child abuse and neglect are problems that are happening to children all across the world. D avid Pelzer, author of the autobiographic book A Child Called It, wasRead MoreParenting Is A Huge Public Health Issue Facing Society Today901 Words   |  4 Pagesenvironment a parent sets for their child is important because childhood is the time when human beings are particularly susceptible and responsive to external experiences (Bornstein, 1998). Children will grow up to believe behaviors and ideals of their parents are appropriate and acceptable by society. The influence parents have on kids has a major effect on issues such as teen pregnancy, substance abuse, child abuse, juvenile crime, and mental illness that can follow a child into adulthood (Hoghughi, 1998)Read MoreImpact of Child Abuse in the United States Essay1469 Words   |  6 PagesChild abuse in the United States is a growing epidemic. Every year the number of reported cases, and missing children go up. This is caused mostly by lack of education about the different types of child abuse, and the signs that go along with it. Communities need to provide more resources to better educate the public about the types of abuse, and the signs that go along with it. Child abuse and neglect can be lessened by more resources, more education and to reach out to others. Every year an approximateRead MorePhysical Misuse Of A Kid863 Words   |  4 Pagesbecause my Granddaughter experienced sexual abuse from her mother’s boyfriend and my Grandson experienced physical abuse from his mother. Their current ages are under 4 years of age. As a parent and grandmother, it tore my heart apart and I wanted to certainly cause harm to somebody. As a result, I have custody of my grandson and my granddaughter lives with her other grandmother. All through the United States each year, a large number of instances of child negligence are accounted for. It’s a frightfulRead MoreChild Abuse And Neglect Data System1521 Words   |  7 PagesChild abuse is far too common. When the neighbors, teachers and social workers turn their heads to the physical and psychological indicators, abuse can become fatal. Like most crimes, this will not evaporate exclusively due to knowledge magnitude on this subject but with the education we can provide on this matter, we can work to building a path to better protect our children. Child abuse that leads to the murder of an innocent child is something that can be prevented. In this presentation you willRead MoreChild Abuse And Neglect704 Words   |  3 Pageshave so much hope because you have not seen the tragedies in the world. Imagine just for a second that before you were even five, you had to take care of yourself. As a toddler you felt unloved and neglected. Each year 5.5 million chil dren experience this feeling, not just for a second, but throughout their childhood. Neglect is child abuse, as well as physical abuse, sexual abuse, and emotional abuse. Child abuse is awful because it causes the child to feel worthless, to lose trust, and to have seriousRead MoreKeeping secrets1746 Words   |  7 Pageskinds of reasons for child abuse. As there are different kinds of child abuse. Such as, physical abuse, sexual abuse, mental abuse, and neglect. Abuse occurs in all cultures. It doesn t care if you re rich or poor, what color your skin is, what your religious background is, or any other mitigating factors. No one is immune to abuse. If a child has unexplained bruises, broken bones, and even cigarette burns, that is physical abuse. Physical abuse can also cause death to the child. No adult has a right

The Silver Linings Playbook Chapter 41 Free Essays

How Is She? My birthday falls on a Friday. December 29. In the afternoon, Mom helps me tape trash bags around my cast so I can take my first shower since I broke my leg. We will write a custom essay sample on The Silver Linings Playbook Chapter 41 or any similar topic only for you Order Now This is sort of embarrassing to talk about, but Mom has to help me keep my cast out of the shower, so she holds the shower curtain for me, protecting the cast, as I straddle the edge of the tub, trying to keep my weight on my good leg. Mom hands me the soap when I need it and also the shampoo. She pretends not to look at my naked body, but I am sure she gets a glimpse at some point, which makes me feel strange. I haven’t worked out in days, so I feel very small and weak – but Mom doesn’t say anything about my diminished girth, because she is a kind woman. After my shower, Mom helps me put on a pair of sweatpants she has modified, cutting one leg off at the thigh so my cast can fit through. I also put on a button-down shirt from the Gap and my new leather jacket. I hop down the steps, crutch my way out the door and into the backseat of Mom’s car, sitting sideways so my cast will fit. When we arrive at the Voorhees house, I crutch my way into Cliff’s office, pick the black recliner, prop my cast up on the footrest, and tell Cliff everything. When I finish my story, Cliff says, â€Å"So you’ve been in bed since Christmas?† â€Å"Yeah.† â€Å"And you have no interest in reading or watching television?† â€Å"No.† â€Å"And you’re not working out your upper body at all? No weights?† â€Å"No.† â€Å"What do you do all day?† â€Å"I sleep, or I think. Sometimes I write, but Danny has been coming to visit me too.† I had already told Cliff all about God reuniting Danny and me, which even Cliff had to admit was a bit of a miracle and maybe the silver lining to my awful Christmas. â€Å"What do you and Danny do when he visits?† â€Å"We play Parcheesi.† â€Å"Parcheesi?† â€Å"It’s the Royal Game of India. How can you not know it?† â€Å"I know Parcheesi. I’m just surprised you and Danny play board games together.† â€Å"Why?† Cliff makes a funny face, but doesn’t say anything. â€Å"Danny brings his Parcheesi game all the way from North Philly. He rides the trains.† â€Å"That’s good, right? It must be nice to see your old friend.† â€Å"I was sorry to learn that he still can’t rap, even after a second operation, but his aunt got him a job doing the janitorial work at her church, which is also a day-care center. He wipes down the pews with pine oil and mops the floors and empties the trash and vacuums every night – stuff like that. He smells like pine trees now too, which is sort of a nice bonus. But Danny is quieter than I remember him being in the bad place.† â€Å"Did you tell Danny about what Tiffany did to you?† Cliff asks. â€Å"Yeah, I did.† â€Å"What did he say?† â€Å"Nothing.† â€Å"He didn’t give you any advice?† â€Å"I didn’t ask him for any advice.† â€Å"I see.† Cliff grabs his chin, which lets me know he is going to say something my mother has told him. â€Å"Pat, I know how you lost your memory. Everyone does.† He pauses here, gauging my reaction. â€Å"And I think you remember too. Do you?† â€Å"No.† â€Å"Do you want me to tell you how you lost your memory?† â€Å"No.† â€Å"Why?† I don’t say anything. â€Å"I know Dr. Timbers used to tell you the story every day as part of your therapy. That’s why I never brought it up. I thought maybe you would talk about it when you were ready, but it’s been almost five months – and now you have a broken leg, and things seem to have gotten worse. I can’t help feeling as though we need to start trying other tactics. What Tiffany suggested about closure is true. I’m not saying her methods were honorable, but you really do need to come to terms with what happened, Pat. You need closure.† â€Å"Maybe my movie isn’t over,† I say, because sometimes moviemakers trick the audience with a false bad ending, and just when you think the movie is going to end badly, something dramatic happens, which leads to the happy ending. This seems like a good spot for something dramatic to happen, especially since it’s my birthday. â€Å"Your life is not a movie, Pat. Life is not a movie. You’re an Eagles fan. After watching so many NFL seasons without a Super Bowl, you should know that real life often ends poorly.† â€Å"How can you say that now, especially since the Eagles have won four straight and are headed into the play-offs – even after McNabb went down!† Cliff just looks at me, almost as if he is scared, and suddenly I realize that I was just yelling. But I can’t help adding, â€Å"With a negative attitude like that, it will end poorly, Cliff! You’re starting to sound like Dr. Timbers! You better watch out, or you’re going to be defeated by pessimism!† There is a long silence, and Cliff looks really worried, which begins to worry me. On the drive home, Mom tells me that people are coming over for my birthday. She is making me a birthday dinner. â€Å"Is Nikki coming?† I ask. â€Å"No, Pat. Nikki is never coming,† Mom says. â€Å"Never.† When we arrive home, Mom makes me sit in the family room while she cooks meat loaf and mashed potatoes and green beans and an apple pie. She keeps trying to talk to me, but I really do not feel like talking. Jake and Caitlin arrive first, and they try to cheer me up by talking really enthusiastically about the Birds, but it doesn’t work. When Ronnie and Veronica arrive, Emily climbs onto my lap, which makes me feel a little better. Caitlin asks Emily if she wants to draw a picture on my cast, and when she nods, Mom finds some markers and we all watch little Emily draw. She starts off by making a wobbly circle, which is understandable, since the cast is not perfectly flat, nor smooth. But then she just scribbles all sorts of colors everywhere, and I cannot tell what she is up to until she points to her creation and says, â€Å"Pap!† â€Å"Did you draw a picture of Uncle Pat?† Ronnie says, and when Emily nods, everyone laughs because it looks nothing like me. When we sit down at the dining-room table, my father is still not home. Even after the win over Dallas, he has been pretty distant lately, hiding in his study again. Nobody mentions my dad’s absence, so I don’t either. Mom’s meal is delicious, and everyone says so. When it is time for pie, they sing â€Å"Happy Birthday† to me, and then little Emily helps me blow out the candles that make the shape of the number 35. I hardly believe that I can actually be thirty-five, because I still feel like I am thirty – maybe I only wish I were thirty, because then I’d have Nikki in my life. After we eat our pie, Emily helps me open my presents. I get a brand-new wooden hand-painted Parcheesi board from Mom, who says she invited Danny to my party, but he had to work. Ronnie, Emily, and Veronica give me an Eagles fleece blanket. Jake and Caitlin give me a membership to a gym in Philadelphia. The brochure in the box says the club has a pool and a steam room and basketball courts and racquetball courts and all types of weight-lifting equipment and other machines that build muscles. â€Å"It’s where I work out,† my brother says. â€Å"And I was thinking we could start working out together once your leg mends.† Even though I’m not all that interested in working out so much anymore, I realize that the membership is a nice present, so I thank Jake. When we retire to the living room, I ask Veronica about Tiffany. â€Å"How’s Tiffany?† I say. I’m not really sure why I ask. The words just sort of slip out of my mouth, and when they do, everyone stops talking and a silence hangs in the air. â€Å"I invited her to your party,† Mom finally offers, probably just so Veronica will not feel badly about her sister being excluded. â€Å"Why?† Jake asks. â€Å"So she can lie to Pat again? Set him back a few more years?† â€Å"She was only trying to help,† Veronica says. â€Å"Your sister has a funny way of helping.† â€Å"Stop,† Caitlin says to Jake. And then the room is silent again. â€Å"So how is she?† I ask, because I really do want to know. How to cite The Silver Linings Playbook Chapter 41, Essay examples

Theme For English B free essay sample

# 8211 ; Different, But The Same Essay, Research Paper In the verse form, Theme for English B, Langston Hughes points out that we are frequently loath to acknowledge that our similarities are frequently more common than our differences. Even though he is colored, he is still merely like his white teacher in many ways. The coloured adult male may look to be different from the white adult male on the outside, but we are all the same on the interior. His tegument colour is different, and he comes from different a background, yet we have many things in common with each other. Hughes is merely 22, the merely coloured pupil in the category, and lives at the Y in Harlem. His teacher is older, white, and presumptively lives in an upper category vicinity. They are different in age, skin colour, and are from different backgrounds. They are similar in that they both are engaged in the survey of English literature at? the college on the hill? Hughes likes to? eat, slumber, drink, and be in love? and? work, read, larn, and understand life? ( 822 ) presumptively merely as the teacher or any other individual, either colored or white, enjoys. We will write a custom essay sample on Theme For English B or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He besides likes? Bessie, Federal Bureau of Prisons, or Bach? ( 822 ) . Typically, the Bessie and bop manner of music is listened to largely by the coloured people. However, he besides likes Bach, which is typically listened to largely by the white people. So, even though he is colored, they are connected in that he likes things common to all races, even the music common to the white people. Hughes appears to repent his engagement in some parts of the teacher? s universe. He does non desire to be a portion of the white adult male, and believes that his white teacher does non desire to be a portion of him either. Hughes admits that he can larn from his teacher, and hopes that his teacher can larn from him. They both recognize that they can larn from their engagement and their differences from each other. He does non desire to be judged as a coloured adult male, but wants to be accepted as the adult male that he is? an American. Although they are different in the colour of their tegument, they are connected in that they are both American. We may come from different backgrounds and have some different likes, but we are all connected and can larn from each other. We must be accepting of each other, and appreciate our differences, yet acknowledge that we are similar in so many more ways.

The Scarlet Letter Essay Research Paper THE free essay sample

The Scarlet Letter Essay, Research Paper THE SCARLET LETTER Since the morning of clip people have read, studied andenjoyed books in which the hero or heroes fall from grace.No affair who those heroes are- the human race in The Bible, the devil prince Lestat in Anne Rice # 8217 ; s # 8220 ; Vampire Chronicles # 8221 ; or a certain Thane of Cawdor in # 8220 ; Macbeth # 8221 ; wickedness plays a greatpart in all of their ruins and subsequent ressurections.And the three chief characters in Hawthorne # 8217 ; s # 8220 ; The ScarletLetter # 8221 ; -Dimmesdale, Chillingsworth, and Hester Prynne- are no different. All three characters are flung from the normal rolesthat society has laid upon them- curate, homemaker, doctor-into new roles- evildoer, prostitute, and vengance crazed sadist.These new functions are non needfully apparent to all in town.However, even though the townsfolk do non cognize of thesinners, God does. And in God # 8217 ; s eyes, whose wickedness was greater? That, I can non reply. We will write a custom essay sample on The Scarlet Letter Essay Research Paper THE or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page But in this mere person # 8217 ; s sentiment, thesin of Chillingsworth far outdid the wickedness of Dimmesdale orHester Prynne, for Chillingsworth # 8217 ; s wickedness was one of revengeand one of secretiveness. He was non driven by an choler at his ownsin, but by the wickedness of others. He used misrepresentation andmanipulation to do the life of another miserable. He wasnot flung from society # 8217 ; s position as if he were a soiled secretlike Hester was ; he was embraced by it. However, his wickedness didtake it # 8217 ; s toll. He was disfigured dreadfully and became atwisted adult male, scarred by wickedness. He besides was robbed of thepleasure of destructing Dimmesdale which was his ground forliving. He died shortly after Dimmesdale. Hester Prynne, nevertheless, was the complete opposite ofChillingworth in that her wickedness gave her life, non destroyedit. She took her penalty and embraced it, utilizing it torebuild herself non as a hapless evildoer, but as a pseudo- saint. At first, the town shunned her as a evildoer. However, after they proverb that she was good, and her wickedness was of love, the same town embraced and loved her. Her wickedness drew her moredeeply into the society of Boston than she of all time was before.And when her time to decease came, she did so with award. HesterPrynne # 8211 ; evildoer and saint. However, Hester # 8217 ; s wickedness was shared. Whereas she was asinner on the exterior and a saint on the interior, ArthurDimmesdale is the contrary, both literally and figuratively.On the outside, a town curate, inside an fornicator. Of allthe characters, Dimmesdale is the most pathetic. A adult male sopenitent that he whips himself, but so afraid that he cannotconfess his wickedness ; a wickedness which takes a great toll on him. Hiscountenance is disfigured in the form of what we assume tobe an Angstrom on his thorax ( that or a cow shaped nevus ) and hissoul is eaten by his guilt. Arthur does subsequently confess, and aweight is lifted from his being. And with that weight gone hefinally dies in peace. Sin has ever been and will ever be a portion of human life and literature. And every bit long as there is sin, people willreact to it in different ways ; some will conceal it, some willembrace it, some will decompose from it. But no affair how the wickedness is handled or cover with, it will ever go forth it # 8217 ; s grade. Forme, the grade of wickedness will ever be symbolized as a vermilion A on a black background. 

Aristotelian Criticism of Jimmy Carters Speech for Gerald Fords Eulogy Essay Example

Aristotelian Criticism of Jimmy Carters Speech for Gerald Fords Eulogy Essay Example Aristotelian Criticism of Jimmy Carters Speech for Gerald Fords Eulogy Paper Aristotelian Criticism of Jimmy Carters Speech for Gerald Fords Eulogy Paper 1976 was the first time in the United States history where presidential candidates would debate head to head, sharing the stage and increasing competition. Gerald Ford was expected to come ahead, but his opponent Jimmy Carter was perceived as confident and a fierce contender. Many argue that Gerald Ford’s downfall was due to the pardon of President Nixon, while others thought he faltered during the live broadcasted debate in San Francisco, with his response to his â€Å"international policy leadership. (CNN Time) Nevertheless, come election day, Jimmy Carter was the new Commander in Chief. Although their rivalry was aggressive, the two stayed friends and worked closely on many national matters, such as â€Å"the Panama Canal treaties, nuclear armaments control with the Soviet Union and the Camp David accords. † (Carter) President Carter spoke at Ford’s funeral and Carter’s speech is a great example of how a speaker can convey condolence and affection for a worth adversary and friend. A Neo-Aristotelian Criticism, created in 1925, by Hervert A. Wichlen is an analysis that condones the use of the five cannons; invention, organization, style, memory and delivery. To begin with invention, one must describe the external proofs, meaning the context of the speech and background of the speaker and occasion and internal proofs, the affected audience and specific appeals used. Ethos appeal to ethics and morals, pathos, targeting emotions and logos, to engaging facts and logistics. The second foundation is organization, or the structure and arrangement of said artifact. This is looking at why and what manner the rhetor organized context. The third cannon is style, meaning the stylistic device the speaker chose to weave into his speech, such as alliteration, metaphors or allegories or just the style of language the rhetor uses. Next is memory. Has the rhetor memorized some, part or all of his speech? The final cannon is delivery, the actual presentation of the artifact. Examples are hand gestures, eye contact and other vocal devices. There are other elements in Neo- Aristotelian criticism, like public perception, audience, major ideas and long term effects. However, the method always utilizes most if not all of the five cannons. I will start my analysis of Former President Jimmy Carter’s eulogy with invention. Carter drew on ethos with his description of their faith and moral values, and the fact that both were former presidents increases credibility of both the rhetor and the man that was being remembered. Jimmy Carter also touches the logos, or factual side, reminding the people of the many challenges the president and America faced, such as â€Å"the Panama treaties, nuclear armaments control with the Soviet Union, normalized diplomatic relations with China,† and many other issues. f the occasion and nature of the speech, Carter appealed to pathos. He is also affecting the emotions of his audience, with his intimate stories of his time spent with Ford. Another example is the personal amusement the two presidents shared with the cartoon in the â€Å"New Yorker,† (Carter), or the light hearted jokes Carter strategically placed throughout the eulogy. He was sincere, but he did not let th e mood turn to one of somberness. On that note I’ll move into the next cannon, organization. While the occasion is one of seriousness, Carter brings humor to the table. He carefully structures his speech to follow the pattern of a serious or intimate anecdote, followed by a small joke or humorous story of Ford and himself. This successfully keeps the atmosphere respectful, however all can smile in remembrance of Ford’s life and happy moments. Not only does he regulate the mood, but also the audience’s attention. By revealing personal stories, he invites the audience into not only Ford’s life, but his too. Carter’s introduction and conclusion is the same line, â€Å"For myself and for our nation, I want to thank my predecessor for all he has done to heal our land. † (Carter) This is successful arrangement because it draws all the anecdotes and jokes back to the occasion, celebrating a friend and national representative. As I mentioned before, Jimmy Carter uses many small stories, or anecdotes, throughout his speech. Carter also uses a cathartic strategy, which can be explained as a release of strong emotion, and in this situation his eulogy is his release. His approach is personal, listing the names of his family members, and the Ford family members. This adds to the sincerity of the eulogy because he is talking directly to the family, instead of a broad out reach to the audience. Since the artifact was not memorized, the final cannon I want to address is the delivery. Carter’s delivery fit his purpose perfectly. He respectfully honored a great person. The slow pace of his presentation represents the solemnity of the matter. Carter also takes time to look out into the audience as he speaks which shows that he is trying to also make a connection on a personal level. Overall, Jimmy Carter accomplished his goal in giving a memorable and respectable speech in honor of former President Gerald Ford. Through his context, organization, style and delivery Carter effectively demonstrates a professional, yet personal method that consoles and reminisces of a former adversary and friend. Bibliography Foss, Sonja K. Rhetorical Criticism: Exploration Practice. 4th ed. Prospect Heights, IL: Waveland, 1989. Print. Carter, Jimmy. Carter Center Editorials and Speeches Jimmy Carter Eulogy for Gerald R. Ford. Carter Center Editorials and Speeches Jimmy Carter Eulogy for Gerald R. Ford. The Carter Center, 3 Jan. 2007. Web. 09 Sept. 2012. . 1976 Presidential Debates. AllPolitics. Ed. Unknown. CNN. com, 1996. Web. 09 Sept. 2012. . Goodrigde, Elisabeth. Gerald Ford v. Jimmy Carter: There Is No Soviet Domination of Eastern Europe U. S. News and World Report. U. S. News and World Report, 17 Jan. 2008. Web. 9 Sept. 2012. .

MANAGING IN A MIXED ECONOMY Coursework Example | Topics and Well Written Essays - 2500 words

MANAGING IN A MIXED ECONOMY - Coursework Example Management in mixed economy in the current context has attained significant importance across the world (Reisman, 2005). Concerning with the factors of a mixed economy, this paper intends to focus on the management of such issues in the light of Network Rail Infrastructure Ltd. Overview of the Network Rail Railtrack was involved in performing various tasks of scheduling, delivering, managing, selling and consulting for rail transportation and operated as a group of companies that was engaged in maintaining all the aspects of the track as well as stations of the old British rail network. However, it was sold to Network Rail and later renamed as Network Rail Infrastructure Ltd. Network Rail was then charged with the responsibility of managing the entire rail infrastructure in Great Britain excluding the London underground service. Network Rail therefore aims at providing a safe, reliable and efficient railway service within the UK. Correspondingly, the organisation is committed towards improving the rail network by offering faster, and frequent as well as reliable journey within the towns and cities of the UK. With its rigorous effort, it aims at integrating people for making the UK more competitive in terms of railroad transportation. It also aims at bringing significant benefits to the national economy. Moreover, its endeavour towards private sector growth and workforce can also be seen with its radical investment in the sector (Network Rail, 2013). It is worth mentioning in this context that the organisation is committed towards introducing new technologies in order to offer greater ease and facilities to its wide-range of customers. The organisation proclaims to follow the best organisational practices of safety management wherein its initiatives have been committed towards promoting righteous attitude and continuous development within the workforce. It further tends to ensure that all the passengers as well as individuals dealing with fright are fairly treat ed when they choose to use railway. Currently, the company operates as a private company performing commercial businesses. It is categorised as company limited by guarantee and is directly accountable to its members being regulated by the Office of Retail Regulation (ORR). Moreover, the company is determined to deliver a safe, reliable and the most efficient railway for Britain. It is worth mentioning that its members are drawn from rail industry and the public. Moreover, it is funded through excess of revenue apart from the monetary assistance rendered by the government grants. Notably, the Scottish Government is a public member of Network Rail (Network Rail, 2013). Seminar Topic 1: Innovation and Service Transformation The notion of co-production is widely being discussed in relation to the public services across the world and in the UK as well when evaluating the innovation and service transformation strategies taken by organisations such as Network Rail in a mixed economy system . It is worth mentioning that co-production processes in a mixed economy have often been argued to be primarily based upon the apparent characteristics of services in both public and private sectors wherein the production and consumption of services are commonly noted as inseparable. In order to attain the broad benefits of the co-production, it is essential that the users of

Muslims Consider Prophet Muhammad a Religious and Political Role Model Essay

Muslims Consider Prophet Muhammad a Religious and Political Role Model - Essay Example n-Arab, nor does a non-Arab have any superiority over an Arab; also a white has no superiority over a black, nor does a black have any superiority over a white except by piety and good action.† The Prophet of Allah was able to establish laws that protected animals, trees and environment. On the other hand, he encouraged trade and ethical investments and secured the workers’ rights. This is why we take Muhammad as our religious role model. With regard to politics, Prophet Muhammad is regarded as a role model because of various reasons. One of the reasons is that he married numerous wives on the basis of humanitarian reasons. Prophet Muhammad is well known for the Jihad which translates to struggle in the way of Allah. The Prophet of Allah believes that we as Muslims should struggle in the ways of Allah both within ourselves and externally. The prophet of God is against anyone who stands against Islam and therefore those opposing the struggle for Allah and oppressing Islam should be persecuted. As Muslims we regard this as holy war. This is also another reason why we take Muhammad as our political role model. He convinced people to leave alcohol, prostitution, crime, drugs and He promoted healthy living (Patricia Crone Pg

Vocabulary On Writing In EFL Learners

Vocabulary On Writing In EFL Learners Vocabulary knowledge has been considered as basic principles of learning English and it also has a determinant impact on EFL Witting skills. Writing is one of the important ways to learn English language that involves students ideas into the written text. Vocabulary mastery is one of knowledge that important to learn writing, listening, reading, and speaking A good writer has to know a set of vital items to enrich his writing such as grammar punctuation, capitalization rules; figurative language; rhyme; rhythm; and vocabulary. One item that can power up writing is a strong vocabulary. Spoken and written words are used to communicate ideas, thoughts, and emotions and they are so common among EFL learners, sometimes communicating will be successful and sometimes its quite reverse. To write an article, essay or even a composition which is written at school by students, good vocabulary is an essential object. Knowing synonyms and using strong vocabularies, give readers a good sense of meaning and information will make the writing more influential. In Santos, 1988; Astika,1993 study(cited in Lee,2003) has shown that lack of vocabulary contributes to writing difficulty for foreign language learners and that vocabulary is one of the most important features that determine writing quality The current article focused on the impact of vocabulary on writing in EFL learners. Importance of Vocabulary in Writing Vocabulary is defined as knowledge of words which is considered vital for language development and acquisition and is recognized as an essential factor in writing. It can also describe as the ability to use words in the generation and understanding of sentences. Beck, McCaslin, McKeown, 1980 study(cited in Yonek,2008)There is a substantial body of evidence demonstrating a link between vocabularies and students ability to read and comprehend passages. Researchers have also explored the role of vocabulary in three main aspects of students writing performance: (a) shaping teachers perceptions of writing quality; (b) predicting students overall writing performance, and (c) enhancing the quality of students written compositions( Papadopoulou, 2007,p.35). Papadopoulou,2007 said that there is a positive relationship between mature vocabulary (assessed by lexical choice) and high quality ratings. Particularly, when Neilsen and Piche (1981) compared the effects of syntactic complexity versus lexical choice on the ratings of writing quality, they reported high quality ratings for passages with mature vocabulary regardless of the passages syntactic complexity. Similarly, according to Papadopoulou,2007 examined the role of vocabulary in formatting teachers judgments of college freshmens written arguments:. It was reported that the appropriateness of words used, rather than the simple production of words, was more important in influencing teachers judgments of writing quality. The number of diction or word-choice errors per 100 words written was found to be a particularly strong predictor of writing quality. (Papadopoulou,2007,p.102) Vocabulary is also considered as a strong predictor of students overall writing performance when vocabulary scores are compared to more elaborated criterion measures of written expression such as the Test of Written Language (Towel;Hammill Larsen, 1978), the Stanford Achievement Test (SAT; Madden, Gardner,Rudman, Karlsen, Merwin, 1978), and the Developmental Sentence Scoring System (Lee Canter, 1971). Significant research has been conducted on the effects of vocabulary instruction on reading performance but studies investigating vocabulary instruction and writing are few (Duin Graves, 1987). It also illustrates the effects of vocabulary instruction on the quality of students written products. (Yonek,2008,p.68) Despite the correlations between verbal ability and writing, the nature of the relationship between the two is less certain. A rich vocabulary allows writer to get a richness of thought onto paper. However, the writers real pleasure comes not from using an exotic word but from using the right word. In other research, effective writing has also been shown to be reliant upon verbal working memory . Those students who have considerable difficulty in producing well written compositions suffer from underdeveloped oral proficiency levels. According to Bereiter Scardamalia, 1987 study,(cited in Lee,2003)Further research shows that verbal memory limitations impact both quantity and quality of writing . In writing, using correct verbs, propositions and grammatical point is so important. Vocabulary and writing: Finding the right words In some ways, the ability to write effectively hinges upon having an adequate vocabulary even more than does the ability to read. Once students have learned to decode words, they may be able to read and pronounce many words that are unfamiliar to them. They may even be able to determine accurate meanings of unfamiliar words simply by examining the context in which those words are used. During the writing process, however, a student does not have the luxury of examining the context in which a word is used; he or she is creating the context. Therefore, the writer must be able to spontaneously recall words that are known not only by sight, but that are understood well enough to use correctly. Writing is dependent upon the ability to draw upon words to describe an event. The breadth and depth of a students vocabulary will have a direct influence upon the descriptiveness, accuracy, and quality of his or her writing. Yonek( 2008) notes, variety in selecting words to convey accurate meanings is necessary in speaking and writing, the outgoes of the language arts and at any level, written communication is more effective when a depth of vocabulary and command of language is (p. 25-26). Principles of vocabulary development Since words are the writers most important tools, vocabulary development must be an important and ongoing part of classroom learning. In Laflamme (1997) study( cited in yonek 2008) offers several key principles that should guide the creation and implementation of a comprehensive vocabulary development program. 1. Teachers must offer direct instruction of techniques or procedures for developing a broad and varied vocabulary. This instruction can be provided both formally through the language arts program, and informally through various classroom interactions-such as story time-with students. 2. New vocabulary terms must be connected to students previous knowledge and experiences. If students are unable to contextualize new words by attaching them to words and concepts they already understand, the words will likely have little meaning to them, and if meaning is lacking, the chances are pupils will memorize terms and concepts for testing purposes only or largely. 3. Students should be able to contextualize the vocabulary terms they have learned and use them in society. In order for students to do this successfully, they must first learn to become comfortable using these words in the classroom. Students should be required or encouraged to incorporate new vocabulary terms into their oral and written reports and presentations. 4. Practice and repetition are important methods by which students can become familiar with new words and under- stand how they may be used correctly .Students should be frequently exposed to the same words through practice exercises, classroom use, and testing. 5. Teachers should model an enthusiasm for and curiosity about new words through their own behaviors and attitudes. Teachers who are enthusiastic about vocabulary development will automatically look for teachable moments throughout the day, pointing out interesting words as they crop up in texts, stories, or conversation; asking students to explore alternative ways of expressing concepts; and helping identify colorful, descriptive ways of speaking and writing. 6. Schools, teachers, and students must be committed to vocabulary development over the long term. The teaching of vocabulary must be an interdisciplinary project, integrated into the curriculum at every level. Effects of vocabulary Instruction on writing and using vocabulary to improve writing skills Efforts to improve writing performance through vocabulary instruction have been limited making generalizations about the role of vocabulary instruction unwarranted. However, a few studies examining the effects of vocabulary instruction on writing reveal some promising findings between the two. While improved vocabulary can enhance students writing skills, there is no guarantee that it will do so automatically. Improvement in vocabulary will result in improved writing skills only if the teacher is able to create a classroom that takes writing seriously. In Corona, Spangenberger 1998 study (cited in lee 2003) in such a classroom, process and environment are closely intertwined and interdependent. The process does not come alive unless the environment is conducive to it. The following are techniques teachers can use to create a writing-centered classroom. 1. Sharing vocabulary-rich literature by reading books, poems, and stories that contain interesting vocabulary, teachers can both introduce new words and provide a forum for discussing them. It helps the students become better writers, 2. Helping students to look for interesting words. There are many different forms this can take. For example, students could pair up and look through books for words that catch their attention, then write down common words that the author could have used instead. 3. Offering a variety of writing opportunities. A writer-centered classroom emphasizes using written expression to communicate ideas. Writing is an important part of all areas of the curriculum. The authors go on to note that students have a greater investment in their writing when they are given choices about their assignments. Such choices may include journal or diary entries, weekly logs summarizing journal entries, book reports, outlines, poetry, autobiographies, short stories, or any number of variations on the above. 4. Providing sample time for students to fully experience the writing process . The teaching of writing should be approached as a process that must be studied in depth, and substantial blocks of time should be devoted to writing. 5. Allowing students to conference with teachers and fellow students. When writing topics are chosen, students should meet with their teacher to discuss ideas and answer questions. The teachers role is to encourage, build on existing strengths, and help the student expand his or her abilities. Conferencing with fellow students gives the budding writer the opportunity to share ideas, brainstorm, and rework his or her project. Research (Henry, Scott Wells, 1999;cited in Yonek 2008) has shown Teachers who are following principles relating to vocabulary development: valuing words is critical to student learning, wide reading and direct instruction are critical components to vocabulary learning, and modeling word consciousness with a focus on language use encouraged students to pay attention to words Conclusion: In Scott 2004, study (cited in Lee 2003) research shows that having a large and sophisticated vocabulary helps a writer produce quality text by limiting the cognitive demands during a writing task. Though research connecting effective vocabulary instruction and writing is limited, some studies suggest that rich vocabulary instruction and developing word consciousness can positively influence writing. Principles identified from the research relating to generalized effects in comprehension as a result of vocabulary instruction may serve as the basis for effective instructional methods designed to increase word knowledge to a degree that can affect writing.

Ranbaxy Laboratories

| Ranbaxy Laboratories Ltd. | | â€Å"Personally, I feel that companies who constantly innovate to provide better products and services and who can offer superior value propositions to the consumer are the ones likely to command more respect globally than others† Malvinder Mohan Singh, former CEO and MD, Ranbaxy Laboratories Ltd Table of Contents Executive Summary5 The Company5 Hybrid Business Model6 Porter’s Five Force Analysis7 Bargaining Power of Buyers8 Bargaining Power of Suppliers9 Threat of New Entrants10 Threat of Substitutes11 Threat of Rivalry12 Value chain analysis13Inbound logistics13 Operations13 Outbound logistics13 Sales and marketing13 Service14 Procurement14 Technological Development14 Human Resource Management14 Firm Infrastructure14 VRIO Analysis16 Internal Analysis- A Resource Based View16 Factors Leading to Growth18 Strategy18 Business-level Strategy18 Focus on Differentiated Products18 Corporate-level Strategy20 R&D in Ranbaxy20 NDDR – A sep arate Entity Decentralization20 First Mover Advantage20 Information Security and Information Synergy21 Acquisitions21 Agreements and Collaboration22 Recommendations22Medium term Strategy (5-7 years)23 Long term Strategy (10-15 years)25 References26 Exhibit27 I. Market Share27 II. Market Structure & Herfindahl-Hirshman index27 IV. Market Forecast31 V. Competitor Analysis31 VI. Ranbaxy Financials32 VII. Pharmaceutical Industry Future33 VIII. Conservation of energy and its impact37 Executive Summary Product patent regime implemented in India from Jan 2005 compelled Indian pharma companies to relook in to their marketing strategies so as to become competitive & strongly withstand in the competition with MNC’s & big giants in domestic markets.Product patent regime posed Indian pharmaceutical companies to change their strategies. If the Indian companies wanted to withstand in competition & survive, they have to invest more in the R&D for development of New Chemical Entities (NCEâ⠂¬â„¢s). Before patent regime, with the help of reverse engineering & process patent companies were enjoying copying MNC’s molecules & introducing their own brands & investing less in NCE’s. The rapid growth of the Indian Pharmaceutical Industry was sponsored by the non-recognition of product patents for drugs under the Indian Patent Act, 1970.However, the case reversed with the advent of signing of the TRIPs agreement. This change ensured that firms should reorient themselves for R&D-based innovation to survive. This would enable them to compete in regulated and open market. Ranbaxy Laboratories Ltd. adopted a â€Å"High-Risk-High-Returns† strategy to respond to the challenging business environment brought about by the introduction of the new patent regime. But the financial health of the firm was affected severely by the increasing expenditures on risky R&D and patent challenges with inadequate returns.High cost acquisitions in foreign markets and setting own manufacturing & selling facilities abroad in order to increase its geographical presence added further to the problem. Eventually, Ranbaxy had to redefine its business model. In 2008, a strategic combination of an innovator and generic powerhouse was brought in by Ranbaxy by selling its 63. 92% shares to Daiichi Sankyo Company Ltd. The study reveals how Ranbaxy adopted a new strategy every time the company confronted a new challenge in the ever so changing scenario of Indian Pharmaceutical Industry.From pioneering the art of reverse engineering and becoming a cost-effective firm globally, the firm went on to become the first Indian Pharmaceutical firm to launch the first original drug developed by an Indian entity, Synriam, and reaping profits by way of para IV filings for the star-drug Lipitor. Ranbaxy made a way out through its strategies to claim its top position in the Indian Pharmaceutical Industry and globally. The Company Ranbaxy Laboratories Limited is one of the India's lar gest pharmaceutical companies. It is an integrated, research based, international pharmaceutical company.It produces a wide range of quality, affordable generic medicines, that are trusted by healthcare professionals and patients across geographies. Ranbaxy is ranked 8th amongst the global generic pharmaceutical companies, and has a presence in 23 of the top 25 pharmaceutical markets of the world. The global presence of the firm encompasses 49 countries, and it has world-class manufacturing facilities in 11 countries to serve customers in over 125 countries. Ranbaxy entered into an alliance in June 2008 with Daiichi Sankyo Company Ltd. The combined entity now ranks among the top 15 harmaceutical companies, globally. The strategic deal will place Ranbaxy in a higher growth trajectory and it will emerge stronger in terms of its global reach and in its capabilities in drug development and manufacturing. A detailed portfolio of company’s financial positioning and market structure is provided in the exhibits. (Exhibit I, II and VI) Hybrid Business Model Ranbaxy is working very closely with Daiichi Sankyo to extract synergies in various geographies. Ranbaxy markets Daiichi Sankyo’s brands in countries such as Romania and Malaysia.Additional resources and capabilities are also being directed towards this region. These capabilities will result in improved business performance in other markets also, like Africa, Middle East and Asia. Branded business is the core factor that differentiates Ranbaxy from most other Indian generic companies. Ranbaxy has its own teams in more than 40 countries, while many Indian companies elect to sell their products through distributors. The ‘Global Hybrid Business’ team took several initiatives during the year to leverage synergies between Ranbaxy and Daiichi Sankyo, individually and collectively.Their collaboration is maturing with time and the synergies now extend beyond marketing and cover a significant part of the pharmaceutical value chain. A manufacturing and supply framework was established between Ranbaxy and Daiichi Sankyo Espha Co. Ltd. during the year and they are working together to develop products for the Japanese market. Porter’s Five Force Analysis The analysis is done from the perspective of an average incumbent player in the industry. Overall attractiveness of industry is moderate at 3. 1 points. The key buyers are hospitals and pharmacies.The key suppliers are active pharmaceutical ingredients and clinical trial services providers. The pharmaceutical market witnesses fairly strong buyer power. Oligopsony status strengthens buyer power. The price control policies of state and private sector institutions also add to buying power, as they are the ultimate purchasers of drugs. The business of pharmaceutical companies depends vitally on obtaining high quality equipment, materials, personnel, and third-party clinical testing services. The regulators must be satisfied th at the products of new entrants are safe and effective.Pharmaceutical industry also experiences substitutes in terms of non-drug therapies and like. In addition, cheaper generic copies are substituting research based drugs as they are no longer protected by patents. Bargaining Power of Buyers Pharmaceutical manufacturers sell to drug wholesalers. These then sell on to pharmacies, or to healthcare institutions as hospitals. Most pharmaceutical products require prescription except for OTC and similar drugs. Marketing of prescription drugs is therefore heavily directed at medical practitioners.Medical condition may entail several different drug treatments leading to product differentiation and weakening buyer power. Differentiation includes efficacy, side effects, ease of use and cost-effectiveness. The reverse happens when generic copies are available. The buyer power is also increased because the ultimate source of funds for most drug purchases is a public or private-sector health in surer or similar body. Such large purchasers exert monopsony market power ad it is very common for them to use one or more specific price control strategies. In some scenarios governments may directly set drug prices, making any departures illegal.In case of reimbursements governments may set a very low price for new or existing drugs. Under reference price regimes reimbursement levels are determined by contrasting the price of a drug in therapeutic category and/or peer group countries. If therapeutic category contains generics the reference price is pushed down for on-patent drugs in the same category. If peer group countries have lower per capita incomes, a similar effect occurs. Price-volume or profit control may also exist. Beyond the stipulated amount manufacturers have to offer either price reductions or compensatory disbursement to government.Overall, industry attractiveness due to buyer’s bargaining power is moderate at 3 points. Bargaining Power of Suppliers Manufact urers of active pharmaceutical ingredients (APIs) are major suppliers to the pharmaceutical market. This forms a sub-sector of the chemical industry. Many leading pharmaceutical companies enjoy less bargaining power of suppliers due to major investments in fine chemicals manufacturing which provides a high degree of self-sufficiency. APIs are provided on a contractual basis and so pharmaceutical companies risk elevated switching costs if they think about moving their business to a different place.Sequentially, pharmaceutical companies make use of sourcing managers to diminish costs and to lessen supplier power. However chemical manufacturers can demand higher prices in case of development of new therapeutic agents as it requires sourcing of newer APIs. Most companies purchase raw materials from many suppliers thereby lessening their reliance on any one company. In general, suppliers have little differentiation as laboratory equipment and chemicals are mostly uniform. Thus companies have a many options to acquire the best quality and cost relationship, diminishing supplier power.But, there are cases requiring specialized facilities or raw materials, such as sterile processing of biological materials. These cases increase supplier power. Forward integration by suppliers is highly unlikely; however due to chemical synthesis capabilities they are ideal candidates for production of generic drugs. Recent years have seen a trend of large pharmaceutical companies producing their own chemicals to enhance profits, however smaller companies lacking the resources necessary to do this have relied on API manufacturers.Pharmaceutical companies outsource their drug testing and clinical trials to third-parties. As these trials are very important for regulatory approvals, these service providers constitute important suppliers. Overall, the industry attractiveness due to supplier’s bargaining power is moderate at 3. 28 points. Threat of New Entrants Market entry is affect ed by regulation and legal frameworks in quite a few ways. A company that wants to market its products is obliged to show that its drugs are safe and effective, to a national regulator. The Drug Standard Control Organization (CDSCO) plays this role in India.A start-up company needs significant up-front investment which must be accessible for the time it takes to develop and test the product. It is time-consuming to meet these regulatory requirements; it may take 10-15 years to get a drug to market. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), out of 5,000 to 10,000 screened compounds, only 250 enter preclinical testing, of which only 5 enter human clinical trials, and finally just 1 will be approved. Another regulatory barrier to entry is the use of restrictive formularies: only certain drugs may be listed as preferred for a specific therapeutic category.This means that non formulary alternatives can only be prescribed under special circumstances an d with prior consent from the appropriate authority, or with more sizeable co-pays from the patient. Thus the potential market for non-formulary drugs is smaller than the size of the therapeutic class market. New entrants to the market are also slowed by the strength of intellectual property protection. Overall, industry attractiveness is moderate at 3. 44 points. Threat of Substitutes As far as substitutes are concerned patients may prefer traditional remedies.Physicians may decide on non-drug treatments if they deem them more apt. Switching costs for patients are moderately low. Though, they may be more important for the final buyers, the healthcare providers. For example, presume a healthcare system reviewed the clinical data and determined that a chronic condition that is treated by drugs taken for the patient’s lifetime can be treated by a simple surgical procedure. This would be a valuable and inexpensive alternative. However, it may need more surgical teams to be train ed and more availability of operating theatres, requiring funding from the healthcare system.The attractiveness of industry due to threat of substitutes is moderate at 2. 75 points. Threat of Rivalry The general structure of the industry is reflected as near perfect competition (Exhibit II). Industry has also witnessed high growth over the years (Exhibit III) Several multinational corporations dominate the Indian research-based pharmaceutical industry, beside smaller firms as biotech players fixed on a small quantity of new products. There is some proof of consolidation, which reduces rivalry as players increase their product portfolio or geographical spread.Certain specific therapy areas may have more effective concentration. Therefore products can be highly differentiated based on their clinical effectiveness. Generic companies can be profitable by selling the same molecule at lesser price than the original. This shows that setting up good-quality manufacturing processes is not ve ry expensive. A resulting effect of this is that it is comparatively trouble-free for research-based companies to increase output, for example by licensing agreements with other companies, eliminating the need to expand their own production facilities.This tends to increase rivalry. Exiting the market is moderately easy. Many assets can be classified as ‘weightless’. For example trademarks, patents, synthetic methods, and others. These can be sold comparatively easily. Many of the production facilities and equipment and R;D will find uses outside pharmaceutical industry. Overall, industry attractiveness due to the degree of rivalry is moderate at 3 points. Value chain analysis Inbound logistics Ranbaxy has implemented various ERP solutions to minimise cost of inbound logistics. Operations CMC- Chemistry, Manufacturing and Control – Trial manufacturing of small scale API and intermediates of some of Daiichi Sankyo’s pipeline products is ongoing at Ranbaxyâ €™s manufacturing facilities. The result is huge cost savings and efficiencies for Daiichi Sakyo. * PDR- Product Development Research – Daichii Sankyo’s knowhow is being used to reduce deviation rate of products. Transfer of new drug research to Daichii Sankyo has enabled Ranbaxy to focus on generic research. * Ranbaxy achieved a total of 230 filings across markets. * Rationalization of potable water supply by operating one system instead of earlier practice of two systems. Measures for Conservation of Energy resulting in savings of 11. 71 million rupees. (Exhibit VIII) Source: Ranbaxy Files Outbound logistics The company has also focussed on cost cutting at this level to strive towards its goal of cost leadership. Sales and marketing * Ranbaxy used its strong distribution network to introduce Daiichi Sankyo’s innovator products in Singapore, Malaysia and Italy. * Marketing synergies are rolled out in India and Romania. Source: Ranbaxy Files Service * Ranbax y ensures high levels of service to distributers. Procurement To gain advantage a project related to supply chain of API and drug product is ongoing. The intent is to promote rationisation and increase price efficiency to mitigate risk. Technological Development * Anti counterfeiting system to reduce pilferage. * Flexible multipurpose manufacturing to de-risk business and utilise production capacities optimally. Human Resource Management * Daiichi Sankyo talent exchange programme to ensure cultural synergies and skill enhancement. * Rotated employees through international assignments to create global leaders. * Additional features added in PMS. Introduction of whistle blower policy. * Long term ESOPs applicable to people in 43 countries and multiple nationalities. Firm Infrastructure * Upgradation of global manufacturing capabilities to enhance capacities, efficiencies and strengthen processes and compliance. * Dosage form facility in US has been upgraded and manufacturing capacity increased. * Investment in Greenfield facility in Africa. * Plan of a Greenfield facility in Malaysia. * Setup of a dedicated facility at Paonta Sahib. * Quality compliance, quality improvement and signing of consent decree with FDA. Implemented 22 global quality standards. * Implemented enterprise wide quality management system (TrackWise, Documentum, LMS etc). The company has inculcated sufficient changes in the value chain to be in line with its hybrid policy. As the company strives to be a global leader it has made huge investments in firm infrastructure. Also human resource management has been suitably enhanced to create a culture that assists in growth. VRIO Analysis Under the hybrid business model Ranbaxy has transferred new drug discovery to Daiichi Sankyo, while Ranbaxy will take care of generic drugs.Utilising these synergies Ranbaxy has also implemented flexible manufacturing at many facilities. Resource| Valuable| Rare| Costly to imitate| Used by organisation| | Daiichi Sankyo’s R;D| Yes| Yes| Yes| Yes| Sustained competitive advantage| Flexible manufacturing capabilities| Yes| Yes| Yes| Yes| Sustained competitive advantage| Expertise in acquiring Abbreviated New Drug Applications (ANDAs)| Yes| Yes| No| Yes| Temporary competitive advantage| SYNRIAM a breakthrough molecule for Malaria| Yes| Yes| Yes| Yes| Sustained competitive advantage|Internal Analysis- A Resource Based View The purpose of this section is to utilize the concept of resource based approach to determine the resources and the interactions that exist among these resources leading to differential performance of Ranbaxy in the Indian pharmaceutical industry. The internal analysis could be thought of as strengths and weaknesses of the SWOT framework applied to a firm. The RBV focuses on idiosyncratic and costly to copy resources, the exploitation of which may give a firm a competitive advantage. I.Assets: These refer to the ‘resource possession’. They are the factors of production that the firm may draw upon to provide valuable goods and services to the customers. They are both, tangible as well as intangible in nature. As a part of this project, these assets were identified in case of Ranbaxy, which are as follows: 1. R;D Expenditure: Firms that invest heavily in R;D are more likely trying to compete on the basis of innovativeness and technology breakthrough although high investment does not necessarily guarantee generation of successful innovation.Ranbaxy has been investing heavily in the R;D of new drugs. The ration of R;D expenses to Sales stands at 11% for Ranbaxy (2009-10) compared to the 5% industry average. 2. Marketing Expenditure: Morgan et al. (2009) find that marketing excellence do lead to superior performance. Marketing as a resource has been considered in itself to have huge potential in making a difference to the firm’s performance. Due to the venture into OTC products (Volini, Revital etc), the marketing expenditure has inc reased by 18% over 2010’s expenditure, when compared with the industry average. . Tacit Knowledge (Company’s Age): As a firm grows, with age, it develops a network of relationships with various institutional actors like government, suppliers, customers, banks and other institutions (Makhija, 2003). The stock of tacit knowledge can be only built over time as the individual learns a particular skill or as member of a group or as a team learns to interact with each other. Thus, as the company ages, the interactions build, networks build, resources build and relationships build. The company is over 50 years old and was incorporated in 1961. . Culture: Ranbaxy firmly believes in providing autonomy to their employees and in letting the employees discover their potential while working for them. Individuals are given fair bit of responsibility quite early in their careers and hence, their actions impact the business. This has resulted in a culture of entrepreneurship within th e organization. The spirit of innovation and creativity supports this entrepreneurial culture. An employee should not be part of R;D to bring about innovations. Creativity is promoted in all the parts of the organization.Genuine mistakes are considered as a part of learning and calculated risk taking behavior is encouraged. II. Capabilities: This is better understood in terms of ‘resource utilization’. Capabilities are those constituents of the firm which help exploit the resources in implementation of the firm’s strategies. 1. MD Experience: Ranbaxy is flourishing under the able guidance of Mr. Arun Sawhney who joined Ranbaxy in May 2008 and was elevated to the position of President-Global Pharmaceutical Business in January 2010. Since August 2011, he is CEO ; Managing Director.Mr. Sawhney is a veteran in industry, with international experience of three decades in the Chemical and Pharmaceutical industry. He has held senior functional and management positions pr eviously in global pharmaceutical companies like Max-Gb, Bayer India Limited and Dr. Reddy’s Laboratories Limited. Factors Leading to Growth The key to Ranbaxy’s growth lay in the strategic decisions taken by its management from time to time. These strategies – specific patterns of decisions and actions – helped them achieve a competitive advantage.It exemplifies how symbiotic interdependencies can be managed and harassed for the organisation’s benefit, by manipulating the specific and general environmental forces. Ranbaxy’s main strategy to manage its environmental forces seems to be through forming strategic alliances for the various products and markets. The company has followed an r-strategy i. e. the strategy of entering a new environment early, and has thus reaped the benefits of being an early entrant in new market. Strategy Ranbaxy is focused on increasing the momentum in the generics business in its key markets through organic and i norganic growth routes.It is the company's constant endeavour to provide a wide basket of generic and innovator products, leveraging its unique Hybrid Business Model with Daiichi Sankyo. As part of the Hybrid Business Model, Daiichi Sankyo will utilise Ranbaxy's strong manufacturing capabilities and expertise in developing generic medicines for the Japan and market them through Daiichi Sankyo Espha Co. , Ltd. The company will also increasingly focus in high growth potential segments like Vaccines and Biosimilars. These new areas will add significant depth to the existing product pipeline.Business-level Strategy Focus on Differentiated Products The company realized the importance of having a versatile product portfolio and thus is focusing on offering differentiated/value-added new products to the Indian masses. Ranbaxy has accelerated its pace to bring in new differentiated products in the Indian market to consolidate its leadership position. Ranbaxy is building upon the practice of related Diversification – entry into a new domain that is related in some way to an organization’s domain- to gain a competitive advantage Examples:- 1. Rank in Therapy SegmentsOver the last few years, Ranbaxy has realigned its domestic operations to the needs of its target customer groups to have a more focused relationship with the doctors. This is aimed at providing customer specific quality services surpassing expectations. By forming relationship with doctors, demonstrates that Ranbaxy manages symbiotic resource interdependencies by the way of co-optation to manage its specific environment better. 2. Entering into the Oncology Segment Since Ranbaxy did not have a significant presence in the Oncology segment, it entered into a strategic alliance with Zenotech Laboratories Ltd.Of Hyderabad, India, a company with a strong hold in this segment. 3. Strengthening presence in Asthma Segment In- Licensing agreement demonstrates that Ranbaxy makes use of the informal stra tegy of long term contracts to manage its resource interdependencies. Ranbaxy has entered into ‘In- Licensing’ agreement with Euro drug laboratories, the Netherlands-based pharma company for the Asthma product Doxophylline – a Novel Xanthine Bronchodilator. It is a strategic step in the direction of expanding the product portfolio through differentiated products for the Indian Market, in the post patent era. 4. NCE Products – India FocusRecently a licensing agreement with a swissbio- pharmaceutical company, Debiopharm, was signed for the New Chemical Entity (NCE) Drug in the Gastroenotlogy segment. 5. Strengthening Product Basket in New Markets In Canada, soon after the launch of its products in 2005, Ranbaxy is further expanding its product portfolio through in- licensing and has already emerged as a pioneer in this area. In mid 2006, Ranbaxy Pharmaceuticals Canada Inc (RPCI) and Janssen – Ortho Inc (JOI) entered into a licensing and supply agreeme nt for a generic version of Risperidone compressed tablets, sold under Ranbaxy’s label, Ran Risperidone.Corporate-level Strategy R;D in Ranbaxy NDDR – A separate Entity Decentralization Ranbaxy received an in- principle approval from the Board of Directors to De- merge its Drug Discovery Research (DDR) operation. This is a significant step in creating an independent pathway for DDR with dedicated resources and enhanced focus for long term value building. Ranbaxy’s state-of-the-art research infrastructure and scientific talent pool can be more effectively leveraged through an independent vehicle that better aligns assets with priorities to accelerate the company’s drug discovery programs.The resulting operational freedom and flexibility will also help to open up new growth opportunities, while providing a platform for increased collaboration. By the way of Decentralization of NDDR, Ranbaxy has promoted flexibility and responsiveness by allowing the researc h department to make on the spot decisions. Ranbaxy practices division if labour and specialization by allocating dedicated resources and creating scientific talent pool to DDR. The core competency of DDR is to discover new drugs First Mover Advantage Ranbaxy saw a great business opportunity in Japan, and hence entered the market in the year 2002 through a strategic alliance with a midsized research pharmaceutical company, Nippon Chemiphar Co, Ltd (NC) of Japan. Ranbaxy owned 10% equity * The company further consolidated its presence in Japan by increasing its equity stake in the NPI, from 10% to 50% in 2006 and NPI thus became a 50:50 joint venture between Ranbaxy and NC. Information Security and Information Synergy * Information security has been a priority at Ranbaxy since 2006. ‘Operation Safed Sagar’ was initiated to protect the company’s information assets. The program is focussed on bringing behavioural change in people, sensitizing them to the importance of Information Security. By using Information Security, Ranbaxy has demonstrated that it uses IT * To make critical information accessible to employees. * To facilitate beliefs norms and values of Ranbaxy. * To enhance motivational effects of cultural values. Acquisitions * June 2005 Efarmes in Spain * March 2006 Senetek in the US * March 2006 Allen in Italy * March 2006 Terapia in Romania * March 2006 Ethimed in Belgium July 2006 Mundogen in Spain * Sep 2006 Cardinal Drugs in India * Dec 2006 Be-Tabs in South Africa In the year of 2007 alone, Ranbaxy made and acquisition of 13 established and well recognized brands of the dermatology segment from Bristol- Myers Squibb in the US. Thus Ranbaxy has aggressively adopted merger and takeover strategy for growth in newer markets. Agreements and Collaboration Agreements and Collaborations 1. Agreement with GSK Extended * Strategic alliance with GlaxoSmithKline (GSK) helped Ranbaxy expand its drug development responsibilities and further fi nancial opportunities. Ranbaxy was to conduct stages till clinical proof is established. GSK thereafter will conduct further clinical development and take resulting products through the regulatory approval process to final commercialization. By forming strategic alliance with its competitor, GSK, Ranbaxy has demonstrated that it uses strategic alliance to manage its competitive interdependencies. . 2. Collaborating with DST * Under this collaboration, Department of Science ; Technology (DST) will provide financial support by way of soft loans to Ranbaxy. * The funding will enable Ranbaxy to conduct the pre clinical toxicity tudies/safety studies and take the molecules up to human phase-1 clinical trials. Recommendations Since its inception, Ranbaxy has been innovating on way to conquer the market. The strategies the company would adopt would be highly influenced by the external stimulus of the pharmaceutical industry. Following are the expectations from the Pharmaceutical Industry i n the times to come and how Ranbaxy should strategise to reap in the opportunities of the changing times. Medium term Strategy (5-7 years) Focus on increasing the scale of generic operations 1.Indian market to be at USD 55 billion with potential for more With market diversity on the rise, the drivers of the growth have proliferated and become more nuanced. Among the various drivers of the growth epidemiology factors, increasing affordability, enhanced accessibility, and rising acceptability are the most prominent (Exhibit VI). This opportunity can be fully utilized by Ranbaxy if it continues to ace its present strategy of capitalizing on generic drugs. This has to be accompanied by heavy investments in R;D for securing the leadership position in the times to come.But the cost strategy can made effective only by focussing on generics. 2. Mass therapies will remain important even though speciality therapies will increase share Mass therapies have evolved to comprise two differing oppo rtunity areas. The first which makes up the majority of the opportunity is acute indications within therapeutic areas such as respiratory and gastro-intestinal that have been traditionally treated by general practitioners (GPs) and consulting physicians (CPs). The second segment comprises older therapies in chronic indications such as diabetes, hypertension, and epilepsy.With the growing cases of both the types in India, Ranbaxy can actually look forward to organic or inorganic growth so as to be able to serve the particular area. The venture can be through differentiation or entering the market jointly by some other player. 3. Metro and Tier I Markets will drive growth while rural market will increase its share Metro and Tier I markets each account for about 30% of the Indian pharmaceuticals market. Mass therapies constitute a majority of this market. During the last 5 yrs, Metro and Tier I markets have grown at an estimated rate of 14 to 15 percent, in line with the overall market .The expectation is that the current momentum will continue and this segment will become a USD 33 billion market by 2020. This calls for a very strong distribution so as to penetrate in the rural sectors of the country. This is very important particularly in case of India wherein more than 70% of the population resides in rural areas. Low cost strategy will help the firm to gain success in the particular area. Apart from the distribution network, Ranbaxy can take the leverage of the Govt’s initiatives to expand healthcare in the rural areas. 4.Hospital channel will increase significantly in influence, though retail will stay important. Currently, as much as 80 to 85% of the market is being accounted for by the retail segment. Even in 2020, the expectation is that the retail segment will remain the mainstay of the market. However, consumption in hospital settings will rise to a considerable 20 to 30% share of the market. India will continue to witness a remarkable rise in medi cal infrastructure throughout the next decade. Not only will there be a dramatic rise in infrastructure, the nature and mix of hospitals and care delivery centres will undergo major shifts.As a result, the expectations are that the hospital segment of the pharmaceuticals market to grow at well above 20% and reach a size of USD 14 billion by 2020. The firm can leverage the opportunity by attaining the corporate-level strategy wherein the firm can get into strategic alliance so as to become the sole strategic partner to supply medicines to the hospital. More so, the firm can also get into ventures of laboratory partnerships. The laboratory collection centres needs comprehensive chain of branches across the country. The same infrastructure can be utilized to expand the retail chain of pharmacy. . Drugs worth more than 45 billion USD going off patent by 2015 Indian pharma companies have depended heavily on drugs coming off patent in the US to fuel their growth. But with the patent cliff nearing its end, they are now widening their horizon to include new growth areas. In 2012, drugs worth $ 35,514 million went off patent in the US. In contrast, in 2013, only 30 medicines worth $16,966 million are expected to come off patent and the value would fall to $ 2,952 million by 2020. Ranbaxy has won several ANDAs in the recent history, the prominent one being the ANDA of the star-drug â€Å"Lipitor†.The marketing exclusivity obtained by the company by the ANDA can help boost the profitability. Ranbaxy must continue doing to sought for more acquisitions of ANDAs so that the company can harp in the profits and at the same time build the reputation of a reliable manufacturer worldwide. Long term Strategy (10-15 years) The organisation should diversify into other revenue streams Contract Research Bio-Pharma Contract Manufacturing New Drug Development The three major segments – domestic formulations, formulation exports and bulk drug exports – have traditio nally been the backbone of the Indian pharmaceutical industry.With the generics market set to become extremely competitive in the long term (next 10 years), Ranbaxy should look to make the most of the current generic opportunity and achieve a substantial scale of operations. (Refer to Exhibit VII for Indian Pharmaceutical future forecasts. ) However, going forward, with more MNCs foraying into India and a shrinking generic market, Ranbaxy will have to increase their reach in segments such as contract research, biopharmaceuticals and new drug development (NDD). Global challenges will force the organisation to offer a whole gamut of products and services to ensure stable revenues and margins.The company can leverage its hybrid structure to achieve this long term diversification need. References 1. Barney, J. B. (1986), â€Å"Strategic factor markets: expectations, luck, and business strategy†, Management Science, Vol. 32 No. 10, pp. 1231-41. 2. Amit, R. and Schoemaker, P. J. H. (1993), â€Å"Strategic assets and organizational rent†, Strategic Management Journal, Vol. 14 No. 1, pp. 33-46. 3. Morgan, N. A. , Vorhies, D. W. and Mason, C. H. (2009), â€Å"Market orientation, marketing capabilities, and firm performance†, Strategic Management Journal, Vol. 30 No. 8, pp. 909-20. 4. Makhija, M. 2003), â€Å"Comparing the resource-based and market-based views of the firm: empirical evidence from Czech privatization†, Strategic Management Journal, Vol. 24, pp. 433-51. 5. Cappelli, P. , Singh, H. , Singh, J. V. and Useem, M. (2010), â€Å"How the best Indian companies drive performance by investing in people†, Harvard Business Review, March, pp. 91-7. 6. http://www. moneycontrol. com/stocks/top-companies-in-india/market-capitalisation-bse/pharmaceuticals. html 7. http://www. ranbaxy. com/news/newsdisp. aspx? cp=993;flag=LN 8. http://www. crisilresearch. com 9. Marketline reports 10. Ranbaxy. com Exhibits I.Market Share Ranbaxy has a mar ket share of 4. 78 % in Indian industry. Also Company has its considerable earnings from the global markets. Region| Sales in US$ in Million| % Share| USA| 791| 41. 5| India| 412| 21. 62| Europe| 297| 15. 59| CIS| 108| 5. 67| Africa| 189| 9. 92| Asia Pacific| 108| 5. 67| Thus, Ranbaxy needs to develop their global strategy as more than 75% of its revenue is generated from their global business. II. Market Structure ; Herfindahl-Hirshman index | Company Name| Market Cap (Rs. Crore)| s (% of market Cap)| s2| 1| Sun Pharma| 84,736. 49| 23. 76| 564. 55| 2| Cipla| 31,418. 31| 8. 81| 77. 61| | Dr Reddys Labs| 30,889. 01| 8. 66| 75. 02| 4| Lupin| 27,046. 65| 7. 58| 57. 52| 5| Wockhardt| 22,623. 49| 6. 34| 40. 24| 6| GlaxoSmithKline| 17,896. 05| 5. 02| 25. 18| 7| Ranbaxy Labs| 17,042. 95| 4. 78| 22. 84| 8| Cadila Health| 15,200. 53| 4. 26| 18. 17| 9| Divis Labs| 13,754. 59| 3. 86| 14. 88| 10| Glenmark| 13,726. 38| 3. 85| 14. 81| 11| Piramal Enter| 9,951. 71| 2. 79| 7. 79| 12| Ipca Labs| 6,3 95. 77| 1. 79| 3. 22| 13| Torrent Pharma| 5,839. 88| 1. 64| 2. 68| 14| Biocon| 5,439. 00| 1. 53| 2. 33| 15| Strides Arcolab| 5,409. 10| 1. 52| 2. 30| 16| Sanofi India| 5,345. 52| 1. 50| 2. 25| 17| Aurobindo Pharm| 4,796. 25| 1. 4| 1. 81| 18| Pfizer| 3,150. 36| 0. 88| 0. 78| 19| Abbott India| 2,953. 23| 0. 83| 0. 69| 20| Jubilant Life| 2,942. 72| 0. 83| 0. 68| 21| Sun Pharma Adv| 2,655. 82| 0. 74| 0. 55| 22| Unichem Labs| 2,115. 98| 0. 59| 0. 35| 23| Wyeth| 1,914. 96| 0. 54| 0. 29| 24| Novartis India| 1,885. 05| 0. 53| 0. 28| 25| AstraZeneca| 1,884. 75| 0. 53| 0. 28| 26| Alembic Pharma| 1,869. 14| 0. 52| 0. 27| 27| Fresenius Kabi| 1,863. 13| 0. 52| 0. 27| 28| FDC| 1,690. 56| 0. 47| 0. 22| 29| Ajanta Pharma| 1,558. 75| 0. 44| 0. 19| 30| Natco Pharma| 1,358. 77| 0. 38| 0. 15| 31| Claris Life| 1,198. 18| 0. 34| 0. 11| 32| Merck| 1,048. 25| 0. 29| 0. 09| 3| Panacea Biotec| 907. 74| 0. 25| 0. 06| 34| JB Chemicals| 703. 92| 0. 20| 0. 04| 35| Elder Pharma| 676. 49| 0. 19| 0. 04| 36| Hikal| 628. 01| 0. 18| 0. 03| 37| Shilpa| 625| 0. 18| 0. 03| 38| Dishman Pharma| 599. 98| 0. 17| 0. 03| 39| Indoco Remedies| 576. 4| 0. 16| 0. 03| 40| Orchid Chemical| 566. 79| 0. 16| 0. 03| 41| Plethico Pharma| 453. 26| 0. 13| 0. 02| 42| Shasun Pharma| 444. 3| 0. 12| 0. 02| 43| Vivimed Labs| 416. 49| 0. 12| 0. 01| 44| Nectar Life| 386. 85| 0. 11| 0. 01| 45| TTK Healthcare| 375. 52| 0. 11| 0. 01| 46| Sequent Scienti| 373. 44| 0. 10| 0. 01| 47| Sharon Bio Medi| 369. 76| 0. 10| 0. 01| 48| Aanjaneya Life| 357. 1| 0. 10| 0. 01| 49| Fulford| 288. 62| 0. 08| 0. 01| 50| Parenteral Drug| 279. 62| 0. 08| 0. 01| |   | 3,56,630. 63|   | 938. 78| The above data indicated the Market Capitalization of the top 50 pharmaceuticals companies. The Herfindahl index 938. 78 indicates that the pharmaceutical industry in India is low concentration and thus highly competitive industry. The high number of companies represent monopolistic environment, but market represents an Oligopolistic nature with top 8 fir ms having a market share of nearly 70% (69. 21%, Eight firm concentration ratio). Sun Pharma is the largest firm in the Indian industry with 23. 6% followed by all others with market share less than 10%. Thus we can conclude that Indian pharmaceutical industry is highly competitive and fragmented at the bottom. III. Market analysis The Indian pharmaceuticals market has achieved strong, double digit growth for the 2007 – 2011 periods. The market is expected to maintain this level of robust growth from 2012 through to the end of the forecast period in 2016. The Indian pharmaceuticals market had total revenues of $12. 3 billion in 2011, representing a compound annual growth rate (CAGR) of 17. 6% between 2007 and 2011. The performance of the market is anticipated to grow at a CAGR of 17. % for the five-year period 2011 – 2016, which is expected to drive the market to a value of $27. 3 billion by the end of 2016. Year| $ billion| % Growth| 2011| 12. 3| 15. 3| 2010| 10. 7| 1 7. 6| 2009| 9. 1| 18. 9| 2008| 7. 6| 18. 9| 2007| 6. 4| | | | | India pharmaceuticals market value: $ billion, 2007–11 Market Share Company| Market Share (%)| Cipla Ltd. | 4. 1| Ranbaxy Laboratories Ltd. | 3. 6| Lupin| 2. 7| Dr. Reddy’s | 2. 3| Others| 87. 3| India pharmaceuticals market share: % share, by value, 2011 IV. Market Forecast In 2016, the Indian pharmaceuticals market is forecast to have a value of $27. billion, an increase of 122% since 2011. The compound annual growth rate of the market in the period 2011–16 is predicted to be 17. 2%. Year| $ billion| % Growth| 2011| 12. 3| 15. 3| 2012| 14. 2| 15. 4| 2013| 16. 7| 17. 6| 2014| 19. 7| 17. 8| 2015| 23. 1| 17. 7| 2016| 27. 3| 17. 8| V. Competitor Analysis Dr. Reddy’s $ million | 2008| 2009| 2010| 2011| 2012| Revenues | 1,067. 40| 1,482. 30| 1,500. 20| 1,594. 40| 2,065. 00| Net income (loss) | 82. 1| -110. 3| 22. 8| 235. 7| 304. 4| Total assets | 1,828. 00| 1,788. 60| 1,714. 70| 2,028. 00| 2,550. 40| Total liabilities | 817. 2| 891. 1| 798. 7| 1,046. 30| 1,324. 20|Key Ratios Ratio | 2008 | 2009 | 2010 | 2011 | 2012| Profit margin | 7. 7% | (7. 4%) | 1. 5% | 14. 8% | 14. 7%| Revenue growth | (22. 2%) | 38. 9% | 1. 2% | 6. 3% | 29. 5%| Debt/asset ratio | 44. 7% | 49. 8% | 46. 6% | 51. 6% | 51. 9%| Return on assets | 4. 5% | (6. 1%) | 1. 3% | 12. 6% | 13. 3%| Cipla Limited $ million | 2008 | 2009 | 2010 | 2011 | 2012| Revenues | 926. 0 | 1,134. 7 | 1,219. 6 | 1,371. 0 | 1,521. 1| Net income (loss) | 149. 7 | 165. 8 | 230. 9 | 205. 0 | 239. 9| Total assets | 1,223. 7 | 1,422. 0 | 1,560. 2 | 1,835. 1 | 1,995. 9| Total liabilities | 422. 1 | 493. 9 | 298. 5 | 412. 1 | 365. 3|Key Ratios Ratio | 2008 | 2009 | 2010 | 2011 | 2012| Profit margin | 16. 2% | 14. 6% | 18. 9% | 15. 0% | 15. 8%| Revenue growth | 15. 3% | 22. 5% | 7. 5% | 12. 4% | 10. 9%| Debt/asset ratio | 34. 5% | 34. 7% | 19. 1% | 22. 5% | 18. 3%| Return on assets | 13. 8% | 12. 5% | 15. 5% | 12. 1% | 12. 5%| Lupin Limit ed $ million | 2008 | 2009 | 2010 | 2011 | 2012| Revenues | 612. 8 | 822. 0 | 1,031. 4 | 1,242. 1 | 1,511. 9| Net income (loss) | 87. 2 | 107. 1 | 145. 5 | 184. 1| 185. 2| Total assets | 718. 0 | 857. 5 | 1,085. 6 | 1,307. 3 | 1,693. 6| Total liabilities | 444. 9 | 550. 3 | 532. 0 | 595. 9 | 821. 6| Key RatiosRatio | 2008 | 2009 | 2010 | 2011 | 2012| Profit margin | 14. 2% | 13. 0% | 14. 1% | 14. 8% | 12. 2%| Revenue growth | 40. 4% | 34. 1% | 25. 5% | 20. 4% | 21. 7%| Debt/asset ratio | 62. 0% | 64. 2% | 49. 0% | 45. 6% | 48. 5%| Return on assets | 14. 5% | 13. 6% | 15. 0% | 15. 4% | 12. 3%| VI. Ranbaxy Financials $ million | 2008 | 2009 | 2010 | 2011 | 2012| Revenues | 1,585. 1 | 1,582. 6 | 1,621. 7 | 1,912. 8 | 2,169. 1| Net income (loss) | 125. 1 | (203. 0) | 63. 3 | 319. 5 | (619. 0)| Total assets | 2,008. 2 | 2,830. 8 | 2,594. 3 | 3,022. 9 | 3,605. 6| Total liabilities | 1,410. 0 | 1,899. 4 | 1,655. 8 | 1,812. | 2,726. 8| Key Ratios Ratio | 2008 | 2009 | 2010 | 2011 | 2012| Pr ofit margin | 7. 9% | (12. 8%) | 3. 9% | 16. 7% | (28. 5%)| Revenue growth | 23. 2% | (0. 2%) | 2. 5% | 18. 0% | 13. 4%| Debt/asset ratio | 70. 2% | 67. 1% | 63. 8% | 60. 0% | 75. 6%| Return on assets | 6. 5% | (8. 4%) | 2. 3% | 11. 4% | (18. 7%)| During the year 2011, the Company resolved its legacy issues with U. S. Food and Drug Administration (â€Å"FDA†) and signed a Consent Decree with FDA in which the Company committed to further strengthen its procedures and policies to ensure data integrity and to comply with current good manufacturing practices.This is considered to be a positive development for the Company as it will provide greater clarity around the outlook for the business in the U. S. The Company has made a provision of Rs. 26,480 million ($500 million) for settlement with the U. S. Department of Justice, which the Company believes will be sufficient to resolve all potential civil and criminal liability. Further, due to sharp depreciation of rupee foreign excha nge charge of Rs. 16,584. 08 million was made during the year. The combined impact of these two exceptional items on the performance of the Company was Rs. 43,064. 08 million.Due to the above exceptional items, the Company incurred a loss (after tax) of Rs. 28,834. 16 million in the year. * The debt to equity ratio for Ranbaxy is the highest among the big 4 pharmaceutical companies in India (refer to appendix for competitor figures). * The company’s average return on asset has been considerably lower than that of the other top players in the industry (refer to exhibit V for competitor figures). * While the company’s sales have picked up the constant less than expected return on asset will be a cause for concern for the investors. VII. Pharmaceutical Industry Future Medium termManufacturing opportunities for Indian players to remain upbeat * Increasing no. of drugs going off patent and decline in R;D productivity among the large global players provides an immense potent ial for Indian formulation and bulk drug players. * According to research the Indian Pharmaceutical Industry is set to grow at CAGR of about 17%. * Healthy growth momentum in formulation export to continue. * Rising ANDA approvals are a testimony to India’s capability in this area, coupled with strong pipeline of ANDA approvals in the medium term. * Bulk exports are expected to witness robust growthLong term Growth in generic market to slow down over the next decade Over the last 40 years, since its inception, the Indian pharmaceutical industry has thrived on the generic model by leveraging on its process chemistry skills and low-cost manufacturing advantage. This has enabled players to tap the huge generic opportunity abroad. However, the R;D productivity of large global pharmaceutical players (innovators) has considerably slowed down over the past few years which is underscored by the declining number of new molecules (New Molecular Entities – NMEs) being approved by the US FDA each year.Taking this trend forward, the lack of new drug launches between 2010 and 2015 onwards will mean that the generic opportunity set to open up in the next decade (post 2020) is likely to be significantly lower. (assuming average age of 8-10 years of patent exclusivity) These changes in the global pharmaceutical landscape could cause a slowdown in the generics segment and hence, the Indian pharma industry will be forced to look at newer avenues for growth. * Large global players suffering from low R;D productivity.Over the past few years, R;D activities by large global players have resulted in the innovation of only a handful of new and significant molecules. Meanwhile drug development costs have escalated. The cost for developing a new molecular entity (NME) has more than doubled to $1. 5 billion over the past 5 years. During the same period, the number of NMEs approved by the US FDA continued to hover around 15-20 with an occasional rise to over 20 as seen in 20 04 and 2008. * Higher risks and lower returns: New drugs over the last two years fail to deliver.In addition to low R;D productivity, innovators' returns from novel molecules have substantially declined over the last few years. None of the new drugs approved over the past 2-3 years have been blockbusters (with sales over $1 billion) or even sales greater than $750 million. This decline in sales is primarily due to the availability of substitutes (generic as well as patented) for existing diseases. Rising emphasis on usage of generics has also steadily reduced the prescription of patented molecules. Over the past few years, off-patent drugs have been the key growth drivers in the generic market.According to research post 2020, growth in the generic market is likely to slow down to 3-5 per cent. Fewer drugs going off-patent coupled with lower prices of the patented drugs (as a result of the availability of substitutes) will be the key reasons that will result in a significantly lower incremental generic opportunity. VIII. Conservation of energy and its impact Measures for conservation of energy | Impact resulting into saving (in rs Million)| * Increase in steam to fuel ratio from 10. 2 to 11. 4 by increasing the condensate recovery| 3. 0| * Rationalization of potable water supply by operating one system instead of earlier practice of two systems| 2. 04| * Operational optimization of process air compressor by supplying air from instrument air compressor| 1. 55| * Fuel emulsification system for furnace oil to improve the combustion efficiency in boiler by 3%| 1. 40| * Installation of Solar Heating system for boiler feed water| 1. 20| * Modifications in cooling tower by replacing the fans and pumps with low energy consuming & efficient fans and pupms in old utilities for pilot plant and Lovastatin plant| 0. 9| * Flexiblity was built into the system to facilitate operation of a single chiller unit at night time| 0. 63| * Reconditioning of cooling towers resulting in bringing down the cooling water temperature by 4’C thereby improving the chiller efficiency| 0. 47| * Re-engineering of air flow in AHU’s in two production blocks thus saving energy| 0. 26| * Replacement of old window ACs with energy efficient split ACs, and installing new ACs in 2 Conference Rooms thereby avoiding operation of centralized cooling during weekend meetings| 0. 17|