The new deal essays

The new deal essays Although it wasnt intended to, the New Deal did slightly modify American business, but in a way that preserved and safeguarded United States business affairs. Roosevelts New Deal reopened banks and gave jobs to the unemployed. Not only that, but it also paved the way for nearly two decades of Roosevelt as president. After the Stock Market crashed due to overproduction by farmers and buying on margin, Roosevelt came up with ways to prevent another similar disaster. His Alphabet Soup Agencies had many different purposes, but they all were intended to bring the United States out of the Great Depression. To provide relief for the unemployed, Roosevelt introduced the Federal Emergency Recovery Administration (FERA). The FERA spent federal funds to prevent people from starving until other forms of recovery relief took hold. Over the programs two-year existence, the FERA spent over $1 billion. In order to protect against agricultural overproduction, Roosevelt introduced the Agricultural Adjustment Act (AAA). This program established a system to provide cash subsidies to farmers who cut their production of the seven major commodities: wheat, cotton, corn hogs, rice, tobacco, and dairy products. This policy continues today. Although the AAA balanced the economy, the benefits it created were distributed unevenly. Subsidies were given mainly to the owners of large- and medium-size farms whom frequently cut production by reducing the acreage of their tenants and renters instead of their own. After so many banks had closed, Roosevelt introduced the Emergency Banking Act, which, in turn, created the Federal Deposit Insurance Corporation. The FDIC protected peoples deposits of up to $2,500. Another act also created the Civilian Conservation Corps, which sent 250,000 young men to do conservation and reforestation work. All in all, Roosevelts brainchildren had a profound ...

National American Woman Suffrage Association (NAWSA)

National American Woman Suffrage Association (NAWSA) The National American Woman Suffrage Association (NAWSA) was founded in 1890. Preceded by: National Woman Suffrage Association (NWSA) and American Woman Suffrage Association (AWSA) Succeeded by: League of Women Voters (1920) Key Figures Founding figures: Lucy Stone, Alice Stone Blackwell, Susan B. Anthony, Harriot Stanton Blatch, Rachel Foster, Elizabeth Cady StantonOther leaders: Carrie Chapman Catt, Anna Howard Shaw, Frances Willard, Mary Church Terrell, Jeannette Rankin, Lillie Devereux Blake, Laura Clay, Madeleine McDowell Breckinridge, Ida Husted Harper, Maud Wood Park, Alice Paul, Lucy Burns Key Characteristics Used both state-by-state organizing and push for a federal constitutional amendment, organized large suffrage parades, published many organizing and other brochures, pamphlets, and books, met annually in convention; less militant than the Congressional Union / National Womans Party Publication: The Womans Journal (which had been the publication of the AWSA) remained in publication until 1917; followed by the Woman Citizen About the National American Woman Suffrage Association In 1869, the woman suffrage movement in the United States had split into two main rival organizations, the National Woman Suffrage Association (NWSA) and the American Woman Suffrage Association (AWSA). By the mid-1880s, it was apparent that the leadership of the movement involved in the split was aging. Neither side had succeeded in convincing either many states or the federal government to adopt womens suffrage. The Anthony Amendment extending the vote to women through constitutional amendment had been introduced into Congress in 1878; in 1887, the Senate took its first vote on the amendment and soundly defeated it. The Senate would not vote again on the amendment for another 25 years. Also in 1887, Elizabeth Cady Stanton, Matilda Joslyn Gage, Susan B. Anthony and others published a 3-volume History of Woman Suffrage, documenting that history mostly from the viewpoint of the AWSA but also including history from the NWSA. At the October 1887 convention of the AWSA, Lucy Stone proposed that the two organizations explore a merger. A group met in December, including women from both organizations: Lucy Stone, Susan B. Anthony, Alice Stone Blackwell (Lucy Stones daughter) and Rachel Foster. The next year, the NWSA organized a 40th-anniversary celebration of the Seneca Falls Womans Rights Convention and invited the AWSA to take part. Successful Merger The merger negotiations were successful, and in February 1890, the merged organization named the National American Woman Suffrage Association, held its first convention, in Washington, DC. Elected as the first president was Elizabeth Cady Stanton and as vice president Susan B. Anthony. Lucy Stone was elected as the chairman [sic] of the Executive Committee. Stantons election as president was largely symbolic, as she traveled to England to spend two years there right after being elected. Anthony served as de facto head of the organization. Gage's Alternative Organization Not all suffrage supporters joined the merger. Matilda Joslyn Gage founded the Womens National Liberal Union in 1890, as an organization that would work for womens rights beyond just the vote. She was president until she died in 1898. She edited the publication The Liberal Thinker between 1890 and 1898. NAWSA 1890 to 1912 Susan B. Anthony succeeded Elizabeth Cady Stanton as president in 1892, and Lucy Stone died in 1893. Between 1893 and 1896, womens suffrage became law in the new state of Wyoming (which had, in 1869, included it in its territorial law). Colorado, Utah, and Idaho amended their state constitutions to include womens suffrage. The publication of The Womans Bible by Elizabeth Cady Stanton, Matilda Joslyn Gage and 24 others in 1895 and 1898 led to a NAWSA decision to explicitly disavow any connection with that work. The NAWSA wanted to focus on womens vote, and the younger leadership thought criticism of religion would threaten their possibilities for success. Stanton was never invited to the stage at another NAWSA convention. Stantons position in the suffrage movement as a symbolic leader suffered from that point, and Anthonys role was stressed more after that. From 1896 to 1910, the NAWSA organized about 500 campaigns to get woman suffrage on state ballots as referenda. In the few cases where the issue actually got on to the ballot, it failed. In 1900, Carrie Chapman Catt succeeded Anthony as president of the NAWSA. In 1902, Stanton died, and in 1904, Catt was succeeded as president by Anna Howard Shaw. In 1906, Susan B. Anthony died, and the first generation of leadership was gone. From 1900 to 1904, the NAWSA focused on a Society Plan to recruit members who were well-educated and had political influence. In 1910, the NAWSA began to try to appeal more to women beyond the educated classes and moved to more public action. That same year, Washington State established statewide woman suffrage, followed in 1911 by California and in 1912 in Michigan, Kansas, Oregon, and Arizona. In 1912, the Bull Moose / Progressive Party platform supported woman suffrage. Also at about that time, many of the Southern suffragists began to work against the strategy of a federal amendment, fearing it would interfere with Southern limits on voting rights directed at African Americans. NAWSA and the Congressional Union In 1913, Lucy Burns and Alice Paul organized the Congressional Committee as an auxiliary within the NAWSA. Having seen more militant actions in England, Paul and Burns wanted to organize something more dramatic. The Congressional Committee within NAWSA organized a large suffrage parade in Washington, DC, held the day before Woodrow Wilsons inauguration. Five to eight thousand marched in the parade, with half a million onlookers―including many opponents who insulted, spit on and even attacked the marchers. Two hundred marchers were injured, and Army troops were called in when police would not stop the violence. Although black suffrage supporters were told to march at the back of the march, so as not to threaten support for woman suffrage among white Southern legislators, some of the black supporters including Mary Church Terrell circumvented that and joined the main march. Alice Pauls committee promoted actively the Anthony Amendment, re-introduced into Congress in April of 1913. Another large march was held in May of 1913 in New York. This time, about 10,000 marched, with men making up about 5 percent of the participants. Estimates range from 150,000 to half a million onlookers. More demonstrations, including an automobile procession, followed, and a speaking tour with Emmeline Pankhurst. By December, the more conservative national leadership had decided that the Congressional Committees actions were unacceptable. The December national convention expelled the Congressional Committee, which went on to form the Congressional Union and later became the National Womans Party. Carrie Chapman Catt had led the move to expel the Congressional Committee and its members; she was elected president again in 1915. The NAWSA in 1915 adopted its strategy, in contrast to the continued militancy of the Congressional Union: the Winning Plan. This strategy, proposed by Catt and adopted at the organizations Atlantic City convention, would use the states that had already given women the vote to push for a federal amendment. Thirty state legislatures petitioned Congress for womens suffrage. At the time of World War I, many women, including Carrie Chapman Catt, became involved in the Womans Peace Party, opposing that war. Others within the movement, including within NAWSA, supported the war effort or switched from peace work to war support when the United States entered the war. They worried that pacifism and war opposition would work against the suffrage movements momentum. Victory In 1918, the US House of Representatives passed the Anthony Amendment, but the Senate turned it down. With both wings of the suffrage movement continuing their pressure, President Woodrow Wilson was finally persuaded to support suffrage. In May of 1919, the House passed it again, and in June the Senate approved it. Then the ratification went to the states. On August 26, 1920, after the ratification by the Tennessee legislature, the Anthony Amendment became the 19th Amendment to the United States Constitution. After 1920 The NAWSA, now that woman suffrage had passed, reformed itself and became the League of Women Voters. Maud Wood Park was the first president. In 1923, the National Womans Party first proposed an Equal Rights Amendment to the constitution. The six-volume  History of Woman Suffrage  was completed in 1922 when  Ida Husted Harper  published the last two volumes covering 1900 to victory in 1920.

How does opeational line maintenance differ from manufacturing and Research Paper

How does opeational line maintenance differ from manufacturing and does either degrade aircraft maintenance abilities if no change is made Or does stability lead to increase in quality - Research Paper Example The problem is the huge maintenance of aircrafts in an airline. The huge maintenance of the aircraft imply to the groupings of the maintenance of aircrafts that are owned by an airline on the foundation of the structures of each type of aircraft, the necessary needs of maintenance, and the functional features of each aircraft type. Thus, the cause of this problem are the huge and necessary maintenance needs that are needed to attain a complete repair of the aircrafts. These needs include the maintenance that had been planned before, examination of nearly all constituent parts of the airplane along with changes in the structure of the airplane. The significance of the problem is that in the current market environment coupled with the competition in the aviation industry, aviation industry players have to seek the best means through which to keep their airplanes up to date and effective in their operations. Doing so will ensure that they are able to cut on the huge costs that may be accrued overt time and find the best solutions to the aircraft problems that may face them in the course of their operations. Moreover, the problem sets alight the necessity to develop an action oriented program that identifies issues in the aircrafts. The program helps identify the best action that is needed to ensure that airlines get the most out of their fleet, be it through operational line maintenance or manufacture of new aircrafts. It is essential to realize that during the operational line maintenance, the aircraft is taken out of operations; hence, it provides no revenue to the airline. During this period when an aircraft or aircrafts are taken in for operational line maintenance, the time taken to undertake the necessary maintenance actions is known as the downtime. Further, it is vital to note that operational line maintenance is a complex undertaking. It is complex because of the difficulty and size of the operation. On the other hand, manufacture of new

Character Analysis Essay Example | Topics and Well Written Essays - 750 words - 7

Character Analysis - Essay Example The character of juror number 8 can be recognized as a person who is very creative. The name of Juror # 8 is Fonda and he belongs to the field of architecture. The profession he is working in is alone enough to categorize his as a creative individual. This is because in the field of architecture an individual is responsible for designing structures that are physical in nature. Architects are individuals involved in the area of creating buildings and designing homes and they have to be creative in their work in order to create new and improved designs (Puccio 346). Another reasons due to which he can be referred to as a creative individual is that he has tremendous amount of experience in his field. Within the movie he can be witnessed performing various acts that reiterate the fact the he is quite a creative individual. For example while solving the mystery of whether the boy killed his father or not, he develops a blue print of the room in which the father was living. Furthermore, h e even tries to defend the boy my measuring the area that the father had travelled to open the door of his room. Fonda is a person who can be referred to as an individual who prefers making decisions in an ethical manner. There are various theories that help in identifying whether a person and his actions are ethical or unethical. One such theory is the ethical decision making theory of utilitarianism. The theory argues that individuals and their decisions and action can be categorized as ethical if he makes decision while ensuring the his decisions lead to the benefit of the entire society and not just a few members of the society (Puccio 24). If his actions and decisions are considered under the light of utilitarianism, he can be considered as an ethical person. This is because unlike other individuals, he ignored his own self-interest and gave precedence to the interest of the young boy. Due to his action of questioning the

Letter Of Counsling Essay Example for Free

Letter Of Counsling Essay 1. Investigation has disclosed that you have failed to pay several bills within the last 3 months. This has become such a problem that your cell phone service was threatened to be shut off, insurance revoked, and car repossessed. 2. You are hereby counseled. By failing to pay your just debts, you have failed to meet the standards found in the Air Force Instruction 36-2906. As an Air Force member, you are expected and required to manage your financial affairs in a proper manner. Your conduct has shown a lack of financial responsibility that is expected of Air Force servicemen and women. Further punishment will be applied if you continue to fail to meet this standard. 3. The following information required by the Privacy Act is provided for your information. AUTHORITY: 10 U.S.C. 8013. PURPOSE: To obtain any comments you desire to submit (on a voluntary basis) for consideration concerning this action. ROUTINE USES: Provides you an opportunity to submit comments or documents for consideration. If provided, the comments and documents you submit become a part of the action. DISCLOSURE: Your written acknowledgment of receipt and signature are mandatory. Any other comment or document you provide is voluntary. 4. You will acknowledge receipt of this letter immediately by signing the acknowledgement below. Within three (3) duty days from the day you received this letter, you will sign the 1st IND below. Any comments or documents you wish to be considered concerning this letter must be submitted at that time.

Nicolas Leonard Sadi Carnot :: biography biographies bio

Nicolas LÃ ©onard Sadi Carnot June 1, 1796 - August 24, 1832 Nicolas Carnot was born on June 1, 1796 in Paris, France. He was the son of Lazare Nicolas Marguerite Carnot. When Sadi was born his father was a member of the Directory, which was the French Revolutionary government. Sadi was brought up in a rough evironment of clashing politics and sciences. His father retired from his position as napoleon's minister in order to devote his time to educating his two sons. At the age of 16 Sadi was sent to Lycee Charlemagne in Paris in order to prepare him for the testings to get into Ecole Polytechnique. At this young age of 16 he entered the Ecole Polytechnique, two years later at the age of 18 he graduated from there. After this he took a two year course in military engineering. Some years later Sadi went to visit his father since he was exiled after the defeat of Napoleon. During his visit of his father they spoke in great detail of a steam engine that had come through where his father lived. This filled Sadi with great excitement as he had plan to develop a theory for steam engines. Once he returned to Paris he began immediatley working on the mathematical theory of heat. This lead to the start of the modern theory of what we know today as thermodynamics. Sadi's first piece that he worked on was a mathematical expression for the work done by one kilogram of steam. This research done my Sadi was never published to the public. It wasn't until later that Sadi finally published something on his works. When his father died his brother, Hippolyte Carnot came to Paris in order to help his brother finish his book on steam engines that he was currently working on. Sadi's book was finally published in 1824, and in his book was the theory of the "Carnot Cycle" In 1827 he was called back into the military to work as a military engineer which he did for less than one year. He quickly retired and moved back to Paris to continue his work on the theory of heat. In 1832 Sadi Carnot became very sick with the cholera epidemic and he died one day after getting cholera, at the young age of only 36. Carnot is known as the father of thermodynamics. He was the first person to show the relationship between work and heat.

NY Times Paywall Essay

However the long-term prospects of paywalls remained uncertain. The subscriber growth was slowing down, and many of the paid subscribers of The Times were enticed by the introductory offer of 99 cents for a 4-week subscription. A previous experiment with a paywall, TimesSelect, was abandoned in 2007 after The Times secured 227,000 paying customers. Was the paywall a good idea for the long-term? Would it provide a foundation for a sustainable business model as The Times approached an ever-evolving technology and media landscape? Company Background The New York Times Company was a leading global multimedia news and information company with 2011 revenues of $2. 3 billion and an operating profit of $57 million, and operated The New York Times, the International Herald Tribune, The Boston Globe, and About. com. (See Exhibit 1 for company structure, Exhibit 2 for business units and their revenues, and Exhibit 3 for company financials. ) The company defined its core purpose as â€Å"enhance[ing] society by creating, collecting and distributing high quality news, information and entertainment. †7 The New York Times, the flagship daily newspaper of the company, was founded on September 18, 1851, by journalist and politician Henry Jarvis Raymond, and former banker George Jones. By 2011, the newspaper had won 106 Pulitzer Prizes, the most of any news organization. Reflecting on The Times’s importance, Michael Hirschorn, the contributing editor of the Atlantic, remarked: The Times still, I think to a remarkable degree, does set the agenda. You really can trace almost any major story these days to something that originally appeared in The Times. The problem is that once it reaches the public, they may not even know it came from The Times. 8 In spite of its prize-winning journalism, The Times was facing significant pressures. Its subscription and revenues had steadily declined over the years (see Exhibits 3 and 4). Its advertising revenues in 2011 were down by over 6% compared with 2010 ad revenues, and in spite of cost cutting, the operating profit in 2011 was 76% less than the previous year. In January 2012, the company sold its Regional Media Group consisting of 16 regional newspapers for $143 million in cash. 9 2 This document is authorized for use only by Karen Lao in Marketing Management taught by A. Prasad from August 2013 to December 2013. For the exclusive use of K. LAO The New York Times Paywall 512-077 The Newspaper Industry The New York Times was not alone in feeling this pressure—the entire newspaper industry was facing significant challenges. Overall circulation in the industry for both weekday and weekend newspapers was declining (Exhibit 5). Traditional sources of newspaper revenues—subscription, retail, and classified advertising—were also declining (Exhibit 6). In contrast, most of the costs for editorial staff, production, and distribution were fixed and had very little room for reduction. Table A shows the revenue and cost structure of a typical U. S. newspaper.

Jonathan Swift’s style of writing Essay

Many critics like William Deans Howells; T.S. Eliot etc. have called Jonathan Swift the greatest writer of prose like T.S. Eliot says that â€Å"Swift, the greatest writer of English prose, and the greatest man who has ever written great English prose.† But there are reasons for this greatness. One of the main reasons is that Swift wrote in a very plain and downright style. He didn’t use any embellishments. At times, when Swift was writing serious stuff this same plain style appears dry but when writing humorously, this same plainness gives his wit a singular edge. Swift didn’t use ornate or rhetorical language; he said what he had to in simply without any affectation as Hugh Blair says â€Å"His style is of the plain and simple kind; free of all affectation, and all superfluity; perspicuous, manly and pure.† Look more:  jonathan swift satire essay And at times, his style appears so simple that its seems like anybody with a little sense of writing could write like him but in this same simple ness of manner lies Swift’s greatness like Scott says â€Å"Swift’s style seems so simple that one would think any child might write as he does, and yet if we try we find to our own despair that it is impossible.† This same simplicity of style in Gulliver’s Travels corresponds to the naivetà © and simplicity of Gulliver. Another important feature of Swift’s prose is that he uses the common touch. In other words, everybody can understand his language that is why even children can read his books with so much enjoyment. Also, Swift addresses people as rational and political beings, making them his equals. For example, in Drapier’s Letters Swift uses the same language of the class which he is addressing i.e. rough and shrewd. Swift doesn’t write long  sentences or speeches or difficult words. And he familiarizes with the people by using their own simple and at times coarse language. Invention or imagination is an aspect witch makes Swift one of the greatest English writers. J.J. Hogan says â€Å"One of Swift’s greatest outlets, of course, was invention.† Although Swift has used many non-sensical and imaginary words, but these imaginary words have an underlying meaning. For example, Lindalino indicates â€Å"Dublin†, Nardac when broken down in German Narr (meaning fool) and doch (meaning still) turns into ‘still a fool’. Hekinah Degul can be translated, on grounds of similarity of sound, turns into ‘What in the devil’. Glumdalclitch can be divided into French ‘grand’ and Latin ‘altrix’ which in turn is combined to produce the meaning ‘enormous nurse’. The word Grildrig can be translated into ‘Girl-thing’ or ‘doll’. Swift also uses onomatopoeic words for example, Gulliver, Lilliput, Brobdingnag, Houyhnhnms, Yahoos etc. The name Lilliput suggest something small like in the word little, Brobdingnag suggest something, which is big. The same way Houyhnhnms (pronounced Whinnims) sounds just like the neighing of a horse and Yahoo is the sound that people make when they are liberated. Even the names that Swift gives to characters are onomatopoeic like Gulliver which is similar in sound to gullible, the emperor’s name in Lilliput Golbasto Momaren Evlame Gurdilo Shefin Mully Ully Gue shows a little bit of the inflated nature of the emperor and the last part Mully Ully Gue sounds ridiculous after such a long, inflated name. And Swift tries to give meaning to these same words to create a sense of authenticity for example, in voyage II, Gulliver is described as being as big as a splacknuck. So, although some words sound totally non-sensical there, is, infact some sense and meaning behind them. There are a few other ways in which Swift’s writing is so remarkable. One of them is that is that Swift creates authenticity through the use of archaic language (like the language used in the Old Testament) for example after his long nap, Gulliver says that he awaked after a long nap. Also, Swift goes into very minute detail of anything that he’s describing. Like he describes  the exact latitude, longitude, dates, naval details, details about clothing, manners, etc. At times, these same details are very disgusting like he describes how he had to disburden himself in Lilliput or the beggars in Brobdingna, but these same disgusting details create realism. One of the most prominent features of Swift’s writing is his satire, which is described by Jacques Barzun as more deadly than a trap. His satire is very bitter, it isn’t gentle at all. But the best thing about his satire is that he’s satirizing the society through somebody as naà ¯ve and gentle as Gulliver. Swift most corrosive satire is on women and politicians, although, at times he does satirize other people like the scientists in Voyage III of Gulliver’s Travels or the religious members through The Tale of a Tub. Swift commonly uses situational satire to criticize or when he excessively praises someone, it’s a strategy of irony and Swift manipulates this praise for his own satiric ends. So the main reasons why Swift’s prose is plain perfection is that he writes in a simple manner, uses common language, he uses imaginary and non-sensical words and gives authenticity to these words, the use of archaic language to give authenticity, the description of everything up to the minutest detail and the way in which Swift uses satire.

Marketing of Roche Pharmaceutical Ltd Essays

Marketing of Roche Pharmaceutical Ltd Essays Marketing of Roche Pharmaceutical Ltd Paper Marketing of Roche Pharmaceutical Ltd Paper Introduction Company Background________ Today Bangladesh stands on the juncture of economic emancipation. The stage is set for rapid growth and development in every sector of the economy. Success lies in the ability to adapt with changing times. The Roche Group is a leading international healthcare company with principal businesses in pharmaceuticals, diagnostics and vitamins. The company is active in more than 150 countries and employs approximately 62,000 people worldwide. The Roche corporate headquarters are in Basel, Switzerland. Roche is committed to improving healthcare by discovering, developing, manufacturing and providing pharmaceutical products that enhance peoples health, well being and quality of life. Values of Roche Pharmaceuticals: We will operate to high standards of safety and environmental protection. We will protect and enhance the quality of our products through compliance with GMP and regulatory provisions. We will actively market our resources and business capabilities building upon a total commitment to customer service. We will sustain cost competitiveness through continuous improvement in systems, processes and personal development. Effective team working in a climate of mutual trust and respect will be the hallmark of our success. Initiative, creativity, flexibility and honest endeavor in achieving our goals will be expected and recognized. Global Presence of Roche: Group Headquarters: The Roche Group incorporates all those companies that are wholly owned by Roche Holding Ltd, Basel, or in which it has a majority interest. Group management Group Headquarters is based in Basel, Switzerland. Contact opportunity F. Hoffmann-La Roche Ltd Group Headquarters Grenzacherstrasse 124 CH-4070 Basel Switzerland Telephone +41-61-688 1111 Telefax +41-61-691 9391 Email Corporate Webmaster Divisional Headquarters: Separate organizational units run Roche’s three divisions -Pharmaceuticals Division, Diagnostics Division, Vitamins and Fine Chemicals Division with headquarters in the Basel area. Contact opportunity Pharmaceuticals Division Prescription Products, Research Development F. Hoffmann-La Roche Ltd Pharmaceuticals Division Grenzacherstrasse 124 CH-4070 Basel Switzerland Telephone +41-61-688 1111 Telefax +41-61-691 9391 Email Pharma (Rx) Webmaster Roche in Bangladesh: Hoffmann-La Roche Ltd. 22/A Dhanmondi Residential Area Road No. 2 Dhaka 1205 Bangladesh Tel +880-2-966 1774 Fax +880-2-861 3588 a) Origin of Report As a part of our marketing course [MKT-201] we have assigned by our course instructor Raeya L. Yousuf to prepare a report in the view of a marketer of multinational company based on their marketing strategies. ) Purpose or Objective of report In broader sense we are going to prepare this report to fulfill two of our main objectives: First, primary purpose and second, secondary purpose. Primary objective: We are preparing this report as a part of our marketing course, MKT-201. Secondary objective: The secondary purpose of preparing this report is to know the company’s status in the global market, company’s marketing strategies, and also to learn something out of this report, which can be helpful for our future as we are trained to become an efficient business executive. ) Sources of Information Collection of information is always a vital part to make a report. Because a report would be efficient only when the quality and sufficient data and information can be collected. We can collect data and information in two ways: Primary source: When we collect information from the company’s employees interacting directly through interviews, questionnaire, survey, or by phone call. Secondary source: We may collect our necessary information through the company’s brochures, leaflets, and papers, Internet etc. d) Methodology of Study The study will be done on the basis of primary and secondary data collection from the Roche pharmaceuticals ltd. The study is mainly based on qualitative information extracted from various published reports, documents, and brochures of the company. Beside this qualitative information we will analyze the findings based on various statements of the company to find qualitative data, which in later would use to do some financial analysis of the organization. e) Scope of Report The scope of the report is to identify the basic marketing functions observed in the Roche pharmaceuticals Limited. It is an organization that is committed to provide high standards of safety and environmental protection. Roche is also committed to improving healthcare by discovering, developing, manufacturing and providing pharmaceutical products that enhance peoples health, well being and quality of life. This report deals with primary marketing activities performed for the excellence of the organization. The areas would be focused in the report are like the following: The management of the products and services of Roche. The process of segmentation, Targeting and positioning for its offerings. The analysis of its customers along with the life cycle strategies of its services. The overall pricing strategies and tactics followed by the company. The promotional strategies performed by the organization. An intricate analysis of strengths and weaknesses of the firm in comparison to its competitors. Finally, based on the analysis, this report goes beyond the boundary of the objectives and states few recommendations to add luster with the organization’s present management of the delicate marketing efforts. ) Limitations Our report on marketing activities of Roche – A study on Roche pharmaceuticals ltd. is mainly based on qualitative data. For this reason there would not much scope for us to analyze company’s qualitative profiles or financial aspects. This report is not a performance of professional and expert hands. So it may not represent critical analysis of the comparative success of the Roche pharmaceuticals marketing management. It only states the ongoing facts and features of its marketing management. Moreover, due to lack of proper information, we might not focus on the areas of Marketing Research and Information and Product Development Strategies. These two aspects are the integral parts of overall marketing management. 1. Company Information: OUR HISTORY: The early years The founder of Roche, Fritz Hoffmann-La Roche, was a pioneering entrepreneur who was convinced that the future belonged to branded pharmaceutical products. He was among the first to recognize that the industrial manufacture of standardized medicines would be a major advance in the fight against disease. This led him to found F. Hoffmann-La Roche Co. on October 1st 1896. From the very beginning, Fritz Hoffmann attached great importance to product information as the link between the pharmaceutical manufacturer and doctors, pharmacists and patients. Shortly after the foundation of the company, affiliates were opened in Germany, Italy, France, the US, Great Britain and Russia. Since then, Roche has grown into one of the worlds leading healthcare companies and one of the most important in Europe. Roche was founded at a time when the Industrial Revolution was changing the face of Europe. A time, rich of inventions, social advances and progress in medical science and a trend towards meeting the needs of a global healthcare market demanded market. Upon this background, Fritz Hoffmann-La Roche realized his plans for the industrial manufacture of drugs of uniform strength and quality. The Hoffmann Era 1896Foundation of F. Hoffmann-La Roche CoOn October 1, 1896, Fritz Hoffmann-La Roche founds F. Hoffmann-La Roche Co as the successor company to Hoffmann, Traub Co. The business premises are located at the upper end of the Grenzacherstrasse, on a piece of land overlooking the Rhine. 896Product introduction: Aiodin, thyroid preparationAiodin is the earliest in a series of thyroid preparations which uses the presence of iodine in thyroid extracts. 1896Product introduction: Airol, wound antisepticThe wound antiseptic Airol, originally developed in the laboratories of Hoffmann, Traub Co, is launched. The young company has high hopes for this product on the German market. 1897Subsidiaries in Grenzach (Germany) and Milan (Italy)The company buys land in the nearby German farming community of Grenzach where Airol, an antiseptic wound-healing powder, and Sirolin, a cough syrup, are going to be produced. 898Product introduction: Sirolin, non-prescription cough syrupA non-prescription cough syrup, Sirolin contains Roches own Thiocol as its active ingredient. The syrups orange flavour makes it an almost immediate success. Under the tradename Sirolin, the syrup is marketed for over 60 years. 1903Subsidiary in Paris (France) 1904Product introduction: Digalen, purified digitalis preparationAs a pure, standardised digitalis preparation containing all the cardiac glycosides of the purple fox-glove leaf, Digalen proves to meet high medical demand. Digalen remains on the market until 1964. 905First subsidiary in New York CityHoffmann-La Roche Chemical Works Inc. are established in New York City as Roches first offices in the US. 1908Subsidiary in London 1909Product introduction: Pantopon, remedy for pain, colic, spasms, cough, anxiety and excitation statesPantopon is a remedy for pain, colic, spasms, cough and anxiety and excitation states. It contains all the opium alkaloids in a standardised form free of inert material. Pantopon is still sold in a few countries, making it Roches longest-selling product. 1910First subsidiary in Russia (St. Petersburg, until 1919)The agency in St. Petersburg becomes a subsidiary. During the pre-war years tsarist Russia, where Roche also has agents in Moscow, Odessa, Rostov and Kazan, will grow into the companys most important market. 1919Transformation of Roche into a limited companyThe German boycott of Roche products, Basels isolation from its Grenzach plant, the loss of companys Russian market and assets in the Revolution of 1917 and sizeable foreign exchange losses have created a financial crisis. Based on this, Roche is transformed into a limited company. 1920Death of Fritz HoffmannFritz Hoffmann dies on April 18, 1920. Roche loses a dynamic entrepreneur and a striking individual. OUR HISTORY: The New Millennium: Sharpening our focus With the start of the new millennium, Roche has consistently continued its focusing strategy to be prepared for future growth. The alliance with Chugai in Japan, creating a leading research driven pharmaceutical company, creates a very good foothold in todays second largest healthcare market. The acquisition of Amira by Roche Diagnostics and the announced separation of the Vitamins business reflect our concentration on our core pharmaceuticals and diagnostics businesses. We intend to continue developing innovative and cost-effective solutions in prevention, diagnosis and drug therapy to the ultimate benefit of patients. Era of Franz B. Humer 2001Inauguration of production plant for citric acid in ChinaEmploying the newest technology, the facility will supply Chinas domestic market and is also going to export a significant proportion of its production to Asia-Pacific markets. 2001BZ Group sell stake in Roche to Novartis20% of Roche bearer shares, representing around 3. 7% of issued Roche securities (bearer shares and non-voting equity securities combined) are sold to Basels Novartis. For Roche, the current majority holding remains unaffected. 2001Product introduction: Pegasys, hepatitis C treatmentPegasys, a pegylated interferon, is introduced for the treatment of chronic hepatitis C. 2001Acquisition: Amira MedicalAmira Medical, a privately-held corporation active in the diabetes monitoring business, is acquired to complement Roche Diagnostics expertise in the blood glucose monitoring sector. 2001Alliance: Roche and Chugai create new Japanese pharma leader with global accessRoche and Chugai enter into an alliance to create a leading research driven Japanese pharmaceutical company. The new enterprise formed by the merger of Nippon Roche and Chugai and named Chugai Pharmaceutical Co. , Ltd. will be the 5th largest pharmaceuticals company in the worlds second largest pharma market. The alliance is confirmed at Chugais annual general meeting on June 27, 2002. OUR AIM IN HEALTHCARE: Market positioning Founded in 1896 in Basel, Switzerland, Roche has grown from a small drug laboratory into one of the worlds leading research-based healthcare companies active in more than 150 countries. Roche products and services address prevention, diagnosis and treatment of disease, thus enhancing well being and quality of life. Today we rank among the top pharmaceutical companies in the world and are known internationally for our many innovative contributions to medicine. Globally, we are number one in diagnostics, covering all fields of medical testing. Our Vitamins and Fine Chemicals Division is the global leader in its industry. Roche has been committed from the start to advancing the quality of healthcare. The development of integrated packages teaming complementary diagnostic and therapeutic products and services is just one current example of our undiminished pioneering spirit. We firmly believe that we can best meet our responsibilities to society today and in the future by making innovative contributions to healthcare and providing excellence in the service of health. OUR AIM IN HEALTHCARE: Divisions: Three separate divisional entities are responsible for our world-wide activities in the market place Pharmaceuticals Division, Diagnostics Division, Vitamins and Fine Chemicals Division. Pharmaceuticals Division When Fritz Hoffmann founded F. Hoffmann-La Roche Co. in 1896, he realised what was then a revolutionary idea producing medicines on an industrial scale outside the pharmacy and selling them on the international market. Innovation has been one of Roches hallmarks ever since, and many of our pharmaceutical products have become milestones in drug therapy. Upon these products we built our present world leadership in the hospital pharmacy market. Our portfolio of brands of self-medication products is meeting the growing demand for non-prescription (OTC) remedies. Roche Consumer Health addresses the needs of a healthy lifestyle, protection against environmental stress factors and self-medication for minor complaints. At Roche, we view continuous innovation as the most promising way bring new medicines to the patient. Looking to the future, our long-standing expertise in medicinal chemistry and biotechnology has put us in an excellent position to exploit the huge potential of molecular medicine. Diagnostics Division Roche is the worlds number one diagnostics company, offering a wide range of products and services in all fields of medical testing. We have a unique capacity in people and technology to provide innovative, cost-effective, timely and reliable solutions in biomedical research, laboratory diagnostics and patient self-monitoring. All over the world, we are dedicated to working with our customers researchers, clinicians and patients to help them meet their individual needs. It has been said there is not a laboratory in the world that does not contain one of our diagnostic products. Vitamins and Fine Chemicals Division Since pioneering the industrial synthesis of vitamin C in 1934, Roche has been a key large-scale manufacturer of vitamins. Today, the Roche Vitamins and Fine Chemicals Division offers a wide range of products to help improve nutrition and prevent and treat disease. We research, produce and market vitamins, carotenoids (nature-identical pigments), citric acid and other active ingredients as well as additives for use in the animal feed, food, pharmaceutical and cosmetics industries. We have a strong commitment to research and development as a way of continuously improving our products and production processes. This commitment has made us the worlds biggest producer of vitamins and carotenoids after nature itself. Personnel Figures reported in the financial statements Figures reported on an adjusted basis a) 20012000%change20012000%change Number of employees at 31 December63,71764,758-263,71764,758-2 Ratios Figures reported in the financial statements Figures reported on an adjusted basis a) 2001200020012000 EBITDA as % of sales22392726 Operating profit as % of sales11251616 Net income as % of sales13301618 Research and development as % of sales13141314 Data on shares and non-voting equity securities (in CHF) c) Figures reported in the financial statements Figures reported on an adjusted basis a) 2001200020012000 Earnings per share and non-voting equity security (diluted)4. 3710. 245. 665. 96 Dividend per share and non-voting equity security d)1. 301. 151. 301. 15 c) Number of shares and all per share information is restated for the 100 for 1 share split that took place on 4 May 2001. d) Dividend 2001 as proposed by the Board of Directors. Sales by Division in millions of CHF e) Full Year 2001 e)Share in % Pharmaceuticals18,72364 Diagnostics6,90024 Vitamins and Fine Chemicals3,54012 Sales Roche Group29,163100 e) On an adjusted basis. Sales by Region in millions of CHF Full Year 2001Share in % Europe10,79537 North America11,26438 Latin Americaq2,82710 Asia3,41812 Others8593 Roche Group29,163100 Employees by Division Year-end 2001Share in % Pharmaceuticals39,49261 Diagnostics16,34524 Vitamins and Fine Chemicals7,49412 Others3861 Roche Group63,717100 Employees by Region Year-end 2001Share in % Europe31,84850 North America17,35927 Latin America5,6559 Asia7,13311 Others1,7223 Roche Group63,717100 Key figures of 2001 Key Figures in millions of CHF Figures reported in the financial statements Figures reported on an adjusted basis a) 20012000%change20012000%change Sales29,16328,672+229,16327,543+6 EBITDA b)6,43811,126-427,7887,068+10 Operating Profit3,2477,131-544,7844,301+11 Net Income3,6978,647-574,7995,014-4 Research and development3,8933,950-13,8933,919-1 Additions to property, plant and equipment1,9312,183-121,9312,115-9 a) The adjusted figures, which are used in the internal management of the Roche Group, represent the results of the Groups underlying on-going operations. They exclude special items and include only the continuing businesses. See in the Annual Report for a full description and reconciliation. b) EBITDA: earnings before interest and other financial income, tax, depreciation and amortization including impairment. This corresponds to operating profit before depreciation and amortization, including impairment. 2. Situational Analysis: It is always difficult to analyze the situation of any company. Because a company hardly disclose it’s internal situation and it is also very complicated to have enough data and information to predict a company’s SWOT analysis. Here we discuss the SWOT of the Roche pharmaceuticals: a:)SWOT: â€Å"To see things as they are, the eyes must be open; to see things as other than they are, they must be open even wider; to see things as better than they are, they must be open to the full. -Antonio Machado Juan de Mariena 1945 Over the past more than hundred years F. Hoffmann-La Roche Co. have worked towards building a strong foundation and establishing a professional corporate development, Roche pharmaceuticals says that they are the recognized leader; respected for its achievements, professional ethnics and innovative concepts. The qualitative factors are qualified on the basis of different statistical scale. A primary survey is being done by us which is the best applicable to quantify the qualitative factors with the help of a survey paper. We have only talked with the management bodies of Roche pharmaceuticals. For time constraint we could not do the primary survey among the customers but the dealers or pharmacies. Solely based on their judgment we have developed our SWOT analysis. We analyzed this competitive environment by a questionnaire. SWOT ANALYSIS Factors Roche Pharmaceuticals Ltd. STRENGTHInternal within the organization (short-term) and also external Market Share†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 20% (international), 12% (local) Quality†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Highly qualitative Technology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ High Technology Risk censorship†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. All departments are self-dependent Technical Expert†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ It has highly trained technical expertise. Goodwill†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Strong goodwill. Management It follows very active management system Investment . . . . . . . . . . . . . . It could feel proud because of its huge capital Labor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Highly skilled labor Relationship . . . . . . . . . . . . It always concern about the relationship of its internal and external parties R . It has a rich research and development department Contribution . . . . . . . . . . . . . Its contribution in life saving drugs is considerable Innovation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Frequent innovation in healthcare WEAKNESS: Internal external Cost†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. High product cost because of quality Advertising†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Fewer medium uses for advertising Local market . Fail to compete with the local competitors Economies of scale†¦ If it were possible to operate in economic of scale, the firm would have earned more profit than it does presently. OPPORTUNITIES: Internal within the organization R D .. R D makes the company to produce innovative products Products .. Its rich product variation helps it to capture the market Status symbol†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Buying products of this company people feel ensure of the quality Career facilities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. It provides different types of job facilities. Education.. It facilitate education for its employees to be efficient THREATS: External to the organization Intense competition†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Noverties, Aventis and Square pharmaceuticals are the Potential market competitors globally and locally who had been Operating their business in the pharmaceuticals field. Increased brand loyalty†¦Ã¢â‚¬ ¦ Customers are more in linked to the market leaders of the industry. b)) Industry Analysis: PHARMACEUTICALS BUSINESS IN BANGLADESH: An overview analysis The main emphasis of this report has been laid on the Roche pharmaceutical’s managing marketing activities. But now we will focus on the pharmaceutical industries in Bangladesh. How much the industry is success in our country? We have done a macro analysis from this point of view. We have observed that the main advantage of pharmaceutical finding in Bangladesh is that the companies always get the government financial incentives and any other facilities it require to continue its research and development in healthcare and saving lives and also to compete with the international competitors. However, always there exists an uncertainty centering the expected sales proceed. Another thing that we have observed from our survey in pharmacies is that Indian low quality medicine comes to our country in illegal way. It makes the pharmaceuticals companies a great problem in a away that as Indian medicine are low quality, price is also low therefore the people mostly in suburban area who are in middle-income or low-income group influence to buy this medicine. Which are very risky and sensitive to make the disease worsening even sometimes it becomes a question of life. This type of poorly managed operation may risk our customers confidence and therefore the government should regulate the pharmaceutical industry as it is very much sensitive. The quality control aspect of the pharmaceutical business should also be monitored strictly and honestly by authorized private or public sector enterprises. Another good thing that we discover is there is a strong competition among the medicine companies in our country, the benefit of this completion is we are getting medicine at a lower price and higher quality. The main problem of our pharmaceutical industry is non-availability of infrastructure facilities like gas, water, electricity supply, sewerage disposal and road transport facilities. Very high interest rate of bank loan around 11% to 15% as compared to 3% to 5% in other developing countries like India, Srilanka, may be considered one of the main problem of pharmaceutical industry in Bangladesh. SUGGESTION ON PHARMACEUTICALS INDUSTRY: As a rapid growing industry of Bangladesh, pharmaceutical sector should have top government priority. The government must develop all the infrastructure and other facilities for the pharmaceutical industry. Rules and regulations of providing loan should be eased so that every company in this industry can avail such facilities at a lower interest rate. The legal system needs to be strengthening to deal the default culture of using the poisonous medicine and injections. The government should encourage the pharmaceutical companies to build their factory out side of Dhaka, so that the serious pollution can not affect the people. c) Competitors: A company could be successful in its business only if it provides greater customer value and satisfaction than its competitors. And we are successful in this area only because we give our highest concern to our customers need that means we always try to keep our price lower than our competitors do without any compromise with quality. We are leader in pharmaceutical business because our marketers provide more than simply adapt to the needs of target markets and another reason is that they get the strategic advantage by positioning our strong offerings against competitors offers in the minds of the consumers. Our international competitors are ( Aventis and Fisons) and local competitors are ( Square pharmaceuticals Ltd. Beximco pharmaceuticals, A. C. I. , Novertis). d)Customer Analysis (customer characteristics / profile): Here we are going to analyze the individuals and households who buy goods and services for personal consumption. All these final consumers make the customer market. Consumers around the world vary tremendously in age, culture, religion, sociality, income, education level, and tastes. Also the consumers’ personal factors and psychological factors influence their buying behavior. And they purchase an incredible variety of goods and services. Therefore, the buying behavior of the consumers differ greatly in different culture, or region in the world or even in a country. High involvement Low involvement Significant differences Between brands Few differences Between brands Figure: Four types of buying behavior. Among the four buying behavior our targeted customer fall in the habitual buying behavior, as the customers buy medicine by low involvement and they are not very much concern about the brand name of the pharmaceuticals company so, we can see in the diagram that our customers are in habitual buying behavior. . Market-Product Focus: a. Target Market: For a company to target a market has to go through some factors. First, they have to analyze and evaluate the different market segments, if it is a question of international market then different country’s market should consider and if it is a matter of local market then different groups’ needs and wants should consider. Second, a company must think about the market size and growth. Third, Companies who are in global market, have to think of different country’s culture, demographic and political situation, and economic position. After evaluating different segments, the company must then decide which and how many segments they will take to serve profitably and cost effectively. As our selected product, Demadex is a hurt disease relief tablet our target market should be aged people but as the doctors prescribe and pharmacies sales the medicine so, our main target markets are pharmacies and doctors so that they can influence the final consumers. b. Points of Difference (characteristics that make the product / organization unique relative to competitors): There is no any single marketing strategy that fit best for all pharmaceutical companies. A perfect marketing strategies for a company depends on that company’s size of capital, market share, areas of activities, company position in the mind of consumers compared to those of its competitors. Therefore, our research and development department with dominant company position in the industry, develop strategies in marketing policy, pricing policy and in other areas considering the above-mentioned factors that make our company unique relative to other competitors. Positioning: As we know that a product’s position is the place the product occupies relative to competitors in consumers’ minds. If a product is perceived to be exactly like another product on the market, consumers would have no reason to buy it. It also means a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Founded in 1896 in Basel, Switzerland, Roche has grown from a small drug laboratory into one of the worlds leading research-based healthcare companies active in more than 150 countries. Roche products and services address prevention, diagnosis and treatment of disease, thus enhancing well-being and quality of life. Today we rank among the top pharmaceutical companies in the world and are known internationally for our many innovative contributions to medicine. Globally, we are number one in diagnostics, covering all fields of medical testing. Our Vitamins and Fine Chemicals Division is the global leader in its industry. Roche has been committed from the start to advancing the quality of healthcare. The development of integrated packages teaming complementary diagnostic and therapeutic products and services is just one current example of our undiminished pioneering spirit. We firmly believe that we can best meet our responsibilities to society today and in the future by making innovative contributions to healthcare and providing excellence in the service of health. d) Managing Marketing Activities: Success lies in the ability to adapt with changing times. That is something that the company learnt over the past years. The company also learnt to anticipate that change and mould their services to meet the needs of their valuable clients. Before a product is manufactured, the usual procedure is to study the potential market or customer demanding order to do the size planning which is necessary for the efficient operation of the enterprise. Marketing is the term applied to the processes of distributing goods from the producer to the ultimate user. As we know that Roche pharmaceutical’s main focus is providing healthcare and save lives therefore, its managing marketing is so important. Marketing Research The purpose of Roche pharmaceuticals marketing research is to determine, through the application of the scientific method, what to produce, who the potential buyers are, where those buyers are located, how much to produce, how to sell, and when to sell in order to maximize the service render and net profits earned. Product Analysis: The purpose of product analysis is to determine customer preferences with respect to a product. This analysis will enable management to develop new product that will meet the needs and desire of potential customers, to improve present products and make them more acceptable than those of competitors, to simplify product line by eliminating those, which have a limited demand. Product Feature: Roche pharmaceuticals Ltd. is one of the pioneers in the field of pharmaceuticals industries all over the world and also has an own identity and trademark company in Bangladesh. This company’ s logo named â€Å"Roche pharmaceuticals† is a main product feature and competitive tool for differentiating the company’s product from competitors’ product. Market Analysis: The purpose of the market analysis is to determine the location, volume, and buying habits of the individuals or groups that make up the potential market for Roche pharmaceuticals. (For Roche pharmaceuticals market analysis we added a checklist with the recommendation. ) Roche pharmaceutical is not only the market leader; they are the market flowers in the field of pharmaceuticals industries too. The quality of medicine that Roche pharmaceuticals provide compared to other pharmaceuticals is better. For the reason Roche pharmaceuticals has a strong goodwill. Their customers know that they provide the best quality medicine. Its customers are hard core loyal. And Roche pharmaceuticals never compromises with the quality. Their main focus is selling of the products and services. It is their main focus because for business or social service or shelter. They concentrate customers’ needs and choice for healthcare is being constructed in different areas, like, pharmaceuticals, diagnostics, vitamins etc. In this manner the products is being made as customer demands. Roche pharmaceutical is totally professional outfit. The organizational strength comes from a dedicated workforce. The team has some of the best planners, biochemist scientists, financial experts and marketing professionals. Each area of work is departmentalized on a purely functional basis and each directed to achieve qualitative superiority. So, for planning the business-managing director, researchers, marketing managers, and financial experts are responsible. Roche pharmaceuticals generate marketing planning report based on the various location, location demand, location size, and buying capacity of the particular people or group. The company, Roche pharmaceuticals, is poised to embark on challenging projects in the new millennium. Several joint venture projects are being negotiated with foreign companies for the lateral expansion of the medicine. Roche pharmaceutical is poised for a new phase of dynamic growth. Their human resource is well trained and motivated; their financial fundamentals are strong and they have an excellent goodwill in the market. Their vision is to constantly set challenging goals for theirselves. They will continue to xpand and diversify and be an example of a progressive company playing a dynamic roll in the economic development of Bangladesh. The promotional elements that are going to be implemented by Roche pharmaceutical is mainly advertising, sales promotion and public relations. But the importance of the promotional elements depends on their different target group. As we know Roche pharmaceutical’s main customers are individual buyers but their target markets are doctors and pharmacies. The company also uses product brochure, newsletter and leaflet as to promote their products. The company maintains quality level, product design and development, product feature, and the best one brand name. The company has the special brand name that makes the company different from the others. The company gives customers warranty about their quality product. Under the product classifications Roche pharmaceutical’s product falls in convenience product. Convenience product is consumer products and services with characteristics that the customers usually buys frequently, immediately, and with a minimum of comparison and buying effort. 4. Marketing Program: Figure: The Four Ps of Marketing mix. a. Product: Our product pipeline is a uniquely broad spectrum of innovative solutions for healthcare needs of the future. Projects address all stages of prevention, diagnosis and treatment of disease as well as well being to enhance quality of life. Product Mix: An organization with several product lines has a product mix. A product mix consists of all the product lines and items that a particular seller offers for sale. A company’s product mix has four important dimensions: width, length, depth and consistency. Product mix width refers to the numbers of ifferent product lines the company carries. Product mix length refers to the total number of items the company carries within its product lines. Product line depth refers to the number of versions offered of each product in the line. Finally, the consistency of the product mix refers to how closely relate the various product lines are in end use, production requirements, distribution channels or some other way. Roche discovers, develops, manufactures and markets numerous important prescription drugs that enhance peoples health, well-being and quality of life. Among the company’s areas of therapeutic interest are: dermatology; genitourinary disease; infectious diseases, including influenza; inflammation, including arthritis and osteoporosis; metabolic diseases, including obesity and diabetes; neurology; oncology; transplantation; vascular diseases; and virology, including HIV/AIDS and hepatitis C. Here we give the diagram of our company’s product mix: Product Mix Width Tablets CapsulesSyrup DropsInjections Dormicum Furtulon Herceptin Xeloda Activase NeoRecormon Lexotan Rocephin Roferon-A Valcyte Zenapax Herceptin CellCept XenicalLibrium Redoxon Product Levels: A product is more than a simple set of tangible features consumers tends to see products as complex bundles of benefits that satisfy their needs. When developing products, marketers first must identify the core consumer needs the product will satisfy. They must then design the actual product and find ways to augment it in order to create the bundle of benefits that will best satisfy consumers. Considering pharmaceuticals products that means medicine the core product is to give the relief from diseases and as we are concern about the medicine Demadex our core product is to give relief from the heart disease. The actual products of our product are ?The medicine (tablets) ?Capital ?Biochemical scientists ?Brand name ?Quality level ?Design ?Attractive packaging ?Management system The augmented products of our product are: ?Longevity ?Superb working capability ?Quick solubleness ?Latest gene research quality product ?Style Augmented Product Actual Product Core Product Figure: Product levels of Demadex tablets. Packaging: Traditionally, the primary function of the package was to contain and protect the product. But in recent times, numerous factors have made packaging an important marketing tool. The packages must now perform many sales tasks from attracting attention, to describing the product, to make the sale the company are realizing the power of good packaging to create constant consumer recognition of the company or brand. Packaging involves designing and producing the primary packaging in which the package hold the product and the secondary that is in which the package hold the primary package. Innovative packaging can give a company an advantage over competitors in contrast; poorly designed packages can cause headaches for consumers and lost sales for the company. So developing a good package of the company’s existing and new products require making many decisions. First, the company must establish the packaging concept, which states that the package should be or do for the product. Should it mainly offer product protection, introduce any dispensing method; suggest certain quality about the product or something else? So from our survey we have seen the primary package of our product Demadex is covered by foil paper, which is kept airtight. And the secondary cardboard package that keeps the primary package is made by cardboard box. The size and shape of the primary package is such which contain six tablets each and the colour text and brand mark is such that attract attention of the customers and describe our product quality. That ultimately makes our company specially the product leader in this field. Product portfolio: This document outlines the Roche product development portfolio including new molecular entities and major line extensions. The portfolio will change with time as compounds enter from research, progress through to the next phase of development or enter the market place. The high risk nature of the drug development process also means that it is not unusual for some projects to be terminated if they do not meet the criteria for progression and this will be particularly true in the early stages. Current Portfolio selection of major products Below list of major prescription products contain both the generic name as well as the area of indication. Therapeutic AreaProduct Brand Name / Main IndicationIndication Anesthesia and sedationDormicum/Versed midazolam CancerFurtulon doxifluridineCancer of the colon Herceptin trastuzumabBreast cancer Kytril granisetron hydrochlorideCancer Mabthera/Rituxan rituximabNon-Hodgkins lymphoma Roferon-A interferon alfa-2aCancer Xeloda capecitabineBreast cancer Cardiovascular diseasesActivase alteplaseHeart attack, pulmonary embolism, stroke Dilatrend carvedilolHigh blood pressure, angina pectoris and chronic heart failure NeoRecormon epoetin betaAnemia Rapilysin reteplaseHeart attack Central nervous systemLexotan bromazepamAnxiety and tension states DermatologyRoaccutan/Accutane isotretinoinSevere acne InfectionsRocephin ceftriaxone Infectious diseasesCymevene/Cytovene ganciclovirCytomegalovirus infection in immunocompromised patients Fortovase and Invirase saquinavirHIV Pegasys peg-interferon alfa-2a (40KD)Hepatitis C Roferon-A interferon alfa-2aHepatitis B and C Tamiflu oseltamivirInfluenza Valcyte valganciclovirHIV, Cytomegalovirus infection in immunocompromised patients Viracept nelfinavirHIV Inflammatory and autoimmune diseasesMadopar levodopa+benserazideParkinsons disease Nutropin/Protropin somatropin/somatremGrowth hormone deficiency Pulmozyme dornase alphaCystic fibrosis Metabolic disordersRocaltrol calcitriolOsteoporosis Xenical orlistatObesity TransplantationCellCept mycophenolate mofetilPrevention of acute rejection Zenapax daclizumabPrevention of acute rejection Roche Pharmaceuticals a tradition of innovation 2001Pegasys (peg-interferon alfa-2a 40KD), for hepatitis C; Valcyte (valganciclovir), for AIDS-related CMV retinitis 2000Kytril (granisetron hydrochloride), for cancer 1999Herceptin (trastuzumab), for breast cancer; Tamiflu (oseltamivir), the first oral flu medicine 1998Fortovase (saquinavir), anti-AIDS drug; Viracept (nelfinavir), anti-AIDS drug; Xeloda (capecitabine), anticancer drug; Xenical (orlistat), for treating obesity; Zenapax (daclizumab), immunosuppressant 1997Mabthera (rituximab), anticancer drug 995CellCept (mycophenolate mofetil), immunosuppressant; Invirase (saquinavir), anti-AIDS drug; Aleve (naproxen sodium), OTC analgesic 1993Pulmozyme (dornase alpha), for treating cystic fibrosis 1992Hivid (zalcitabine), anti-AIDS drug 1990Aurorix (moclobemide), antidepressant; Inhibace (cilazapril), ACE inhibitor 1987Anexate (flumazenil), benzodiazepine antagonist 1986Roferon-A (interferon alfa-2a), Roches first genetically engineered product 1982Rocephin (ceftriaxone), antibiotic; Roaccutan (isotretinoine), treatment for severe acne; Dormicum (midazolam), sedative/ hypnotic 1971Fansidar (sulfadoxine+pyrimethamine), antimalerial 970/73Larodopa (levodopa) and Madopar (levodopa+benserazide), the first products for Parkinsons disease 1969Bactrim Roche (trimethoprim+sulfamethoxazole), anti-infective 1963Valium Roche (diazepam), the most important benzodiazepine owing to its broad spectrum of action 1962Fluoro-uracil Roche (fluoro uracil), Roches first anticancer drug 1960Librium (chlordiazepoxide), the first benzodiazepine psychotropic 1952Rimifon (isoniazid), antituberculosis agent 934Redoxon (ascorbic acid), the first vitamin C preparation 1922Allonal (allylisopropylbarbituric acid), analgesic and tranquilliser 1898Sirolin (thiocol), cough syrup . The Boston Consulting Group Approach: Using the BCG approach a company can classify all its SBUs according to the growth share matrix. High Market growth rate Low High Low Relative market share b. Price: Roche is very proud of the steps the company has taken to considerably reduce the cost of combination therapy for the millions of people chronically infected with heart diseases, said George B. Abercrombie, Roche President and Chief Executive Officer. With Demadex and Pegasys, physicians and patients can have confidence knowing that this therapy is backed by an unparalleled development programthe most extensive ever conducted in heart diseases. A Visible Difference in Price Roche has rolled back the list price or wholesale acquisition cost of Demadex to that of branded ribavirin in August 2002. For patients prescribed 1200mg of ribavirin per day, there is a list price or wholesale acquisition cost savings with Demadex of approximately Tk. ,600 for 48 weeks of therapy. Pricing policy for Roche pharmaceuticals: The pricing objective for Roche pharmaceuticals is market penetration; though Roche pharmaceutical is not the first one into the market under the pharmaceuticals industries in Bangladesh. For Roche pharmaceuticals the underlying objective behind the pricing is increasing the share of the market. The demand for Roche pharmaceuticals is the matter label of the PLC. So, the company needs to hold on to their present customers as well as new customer in order to remain profitable. To attract new customer the company could undertake price-cutting to increase the demand. Pricing strategy and action plan: Roche pharmaceuticals is not the market leader as it is holding 12% of total market share. The selling rate of Roche pharmaceuticals’ is in the matter level of product life cycle. But the question comes if Roche pharmaceuticals reduce their price how the customer would perceive it? There is a possibility that customer will relate the price reduction with decline product quality. In order to prevent this situation Roche pharmaceuticals has to convince their customers that their price reduction result from a better utilization of the resource. This message would be conveyed to the customer through personal contact. The pricing strategy should be cost-based pricing or completion-based pricing. That means they should first conduct research to find out the perceived value of the product by the consumers. The producer need to find out how much consumer are willing to pay for the benefit that Roche pharmaceuticals provide with the medicine. Points that are consider in determining the price level of Roche pharmaceuticals are the following: Fixed cost†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦(60%) Variable cost†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦(30%) Mark-up†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦(10%) Contingency plan: Currently though we are not market leader in Bangladesh but enjoying better technological advantage about the quality supplier, raw materials composition and skill labor. Which in turn result the better quality product than our competitors. This message has already be communicated to the customer or our target market. c. Promotion: Promotional strategy Companies must do more than make good product item they have to inform consumers about product benefits and carefully position products in consumer’s minds. To do this, they must skill fully employ four mass-promotion tools in addition to personal selling, which targets specific buyers: sales promotion, publicity advertising and public relations. Sales promotion, including both personal selling and advertising, must be coordinated with the sales program of the company if it is to be effective in assisting the sales force in selling the products. The purpose of personal selling and advertising is to increase the acceptability of the company and its product by potential buyer and to create in him a desire for the product. The Roche pharmaceutical’s desire and acceptability is more economically obtained through personal selling and advertising then through direct sells contact. Personal selling personal sellers may also define as the representatives of the company. They are used to sell the company’s product by personally or directly to the dealers or final consumers. Now a days this type of culture is growing in our country. Specially for pharmaceuticals companies, they market or sales their most of the product by their representatives. And even, some companies have the representatives in all the districts of the country Advertising may be defined as the man’s disseminating information concerning the company and it’s product to the public at large, or a segment thereof, through various channels of communication, at the expenses of the advertiser for the purpose of creating and interest in and desire for the product of the company. Roche pharmaceuticals spent a large amount of money in advertising. Advertising against, buying motivates and advertising appeals, advertising media, etc. is the part of the advertising of Roche pharmaceuticals. Public relations gaining favorable publicity and creating a favorable company image. Roche pharmaceuticals use public relations to communicate with their publics by setting public relations objectives. Public relation is used to promote products, people, place, ideas, and activities. d. Place: Place includes company activities that make the product available to target consumers. To make the products available to the consumer at convenient place Roche pharmaceuticals maintain their dealers or representatives so carefully and efficiently. Representatives are like the channel for the company as they develop the relationship between company and the dealers or pharmacies and doctors. They also cover the other factors such as assortments of the product, inventory, reduce the company overall transportation cost and the location of the high demand are for the products. 5. Conclusion: The scope of present the report does not cover all the factors and parameters for managing marketing of Roche pharmaceuticals ltd. The company believes in market diversification with maintain the market development. Several joint venture projects are being negotiated with the other foreign pharmaceuticals companies for the lateral expansion of the product mix. The company is investigating more diversification into the research and development of the diseases and their medicine. Specially, Roche is investing in discovering the cure of HIV. Roche pharmaceuticals’ product planners need to think about the product, which they have offered and services on three levels. This is the level that Roche pharmaceuticals should be concentrated more because they are not the market leader, they are the market challenger in Bangladesh and in the product life cycle they are staying in maturity level. The maturity level is most important part for the company and under this part a company face its most competitors. So, to stay at the maturity level Roche pharmaceuticals should increase their promotional tools and quality of the product without any increase in price level. The company needs more advertising from this viewpoint. They will select the media for advertisement, which they think convenient for them. We give some unusual advertisement for them in recommendation, which may give good response over the competitors. Finally, the product planner should build an augmented product around the core and actual products by offering additional consumer services and benefits. Recommendation or Suggestions: Suggestion on Company Operation: The recommendation for Roche pharmaceuticals, based on the findings and the action plans of the study, will be as follows: As a quality pharmaceutical company, Roche pharmaceuticals should concentrate on the health nature in this locality than internationally. If they go for research and development to the recommended area, they may comfortably stay in competition in relation to big operations in Bangladesh. However, if the company wants to dominate the market by providing life saving and over-the- counter medicines, they may raise funds by forming a public limited company or may try to make joint ventures with international pharmaceuticals industries. The company should have an efficient management and marketing organization to cope up with the demand of twenty first century. They should also maintain proper accounts of their operations and should follow updated accounting and project management procedures to have a foolproof system to evaluate their accounts and management data and variable’s, which are very important to take crucial financial and administrative decisions. Recommendation on Managing Marketing Activities: The company believes in diversifications and investing diversification into research and development department for invention new product. The companys current product face a higher price in locally, so the company is looking for newer products that must be replaced. But the products can fail the risks of innovation are also great as the rewards. The key to successful innovation lies in a total company effort, strong planning and a systematic new-product-development process. So our recommendation for Roche pharmaceuticals, when they diversify their present products to new products they should maintain some steps. This process starts with idea generation, hich may draw inspiration from internal sources, customers, competitors, suppliers and others. Next comes idea screening, which reduces the number of ideas based on the companys own criteria. Ideas that pass the screening stage continue through product concept development, in which a detailed version of new-product ideas are started in meaningful consumer terms. In the next stage, concept testing, new-product concepts are tested with a group of target consumers to dete rmine if the concepts have strong consumer appeal. Next step is marketing strategy development, in which an initial marketing strategy for the new-products is developed from the product concept. In the Business analysis stage, a review of the sales, costs and profit projection for a new product is conducted to determine whether the new-product is likely to satisfy the objectives. For business, customers are the kings. Roche pharmaceuticals always fulfill their customers needs and satisfactions with the quality. Principle of customers viewpoint is products should be designed, manufactured and distributed to meet the customers desires and needs from his point of view as determined from marketing surveys. So, Roche pharmaceuticals should analysis the product through a questionnaire that, what way competitors products are superior or inferior and will enable the product development engineers to design new or improved products that are more acceptable to customers. A checklist of the type of questions to be answered by a product analysis follows: Does the product meet the market requirements? Is the product competitive in character, performance, and price? What design improvements are needed to meet customers’ needs and to improve performance? How can the methods of replacement of the product be improved? What characteristics of demand are not presently supplied? What is the future trend of changes as determined by customers’ changing conditions? What is competition offering? Can you get design ideas from them? We recommend Roche pharmaceuticals Ltd. to analyze the market for the potential customers. The important aspect of market analysis is a study of the buying habits of the potential customers to determine the characteristics of the market. This information is also necessary in planning an effective sales programme. The following questions indicates some of the important factors that can help Roche pharmaceuticals for solving the marketing problem: ?Who buys the product being offered? ?How many other individuals influence the purchase? ?Where are the buyers located? ? How much time will be requested in selling them? What do buyers emphasize price, quality, delivery, service and the safety? ?When the potential customers in the habit of buying? ?Do they buy ahead of time? ?What discount and credit terms customary? Roche pharmaceuticals human resource department is very strong. Understanding customer requirements is essential in order to provide excellence in service. The profession of sales person is not so popular in our country, so it is hard to get efficient and competent sales person around. So, there is a possibility that Roche pharmaceuticals can do that is selecting and training salesmen. The selection of new employee for sales positions is usually a function of the sales department. The qualities looked for in the individual depend on the requirements for the job, as established in the job specification. Sales work may be classified as consumer, needs only the consumer selling. The training to be given sales personnel or representatives is determined by the requirements of each selling job. Product knowledge is essential so that selling points can be developed. Knowledge of the potential customers, including their location and buying abits, is also helpful in selling. The training program should include instruction in the business policies and procedures involved in making sales contracts, including terms of payment, services, and guaranties. As Roche pharmaceuticals are in the mature stage of the product life cycle, we suggest the company to improve their promotion. They can improve their sales promotion by offering extra benefits with product. 6. Appendix: Annexure 01 6. Develop Marketing mix for each Target 5. Develop Positioning for each Target 4. Select the Target Segment(s) . Develop Measures of Segment 2. Develop Profiles of resulting Segments 1. Identify Bases for Segmenting MARKET POSITIONING MARKET TARGETING MARKET SEGMENTING Figure: Steps in Market Segmentation, Targeting Positioning. 7. Bibliography / References: SOURCE 1. Philip Kotler Gray Armstrong. -Principles of Marketing [Prentice Hall of India Private Limited] 2. Corporate Brochure of the Company 3. Questionnaire 4. Newspaper 5. Company Website Reference: Voututi Kumar Roy -Senior Marketing Executive, Roche Pharmaceuticals. -Mobile No # 0191-345915

Biography of Olympic Figure Skater Oksana Baiul

Biography of Olympic Figure Skater Oksana Baiul Oksana Bauil (born Oksana Serhiyivna Baiul, November 16, 1977) is an Olympic figure skater from Ukraine. Bauil was the first athlete from Ukraine to win Olympic gold in any sport, but her post-career personal troubles put her in the headlines for different reasons. Soviet Childhood Oksana was born in Dnepropetrovsk, a military-industrial city, in the Ukrainian Soviet Socialist Republic (then part of the Soviet Union). Her parents, Sergei and Marina, divorced when she was only two years old, and Sergei disappeared shortly after, whether of his own choice or due to disapproval from the town after the divorce. Oksana was raised by her mother and her maternal grandparents. At the age of three, Oksana began figure skating lessons, as well as ballet. Ultimately, she preferred skating, and by the age of five, she was training with Stanislav Koritek, a well-respected coach in Ukraine. Her family paid for all her expenses, even as they mounted. However, she suffered several losses close together: her grandparents died in 1987 and 1988, and then, in 1991, her mother Marina died suddenly and unexpectedly from what turned out to be ovarian cancer. Oksana was only thirteen. Coaching Changes and Olympic Success Even after the deaths of all her closest family members, more loss was still to come for Oksana. Her coach Koritek moved to Canada in 1992 to coach there, since there was little to no support for figure skating in Ukraine after the collapse of the Soviet Union in 1991. With Oksanas promising career left dangling, the Ukrainian figure skating federation connected her with another coach, Galina Zmievskaya. Zmievskaya agreed not only to coach Oksana, but to allow her to live with her family in Odessa. Oksanas skating progressed rapidly under Zmievskayas tutelage. In 1993, she took home the silver medal at the European Championships, finishing behind French skater Surya Bonaly. At the World Championships that same year, she suffered an accident during practice that displaced disks in her back and neck and damaged the blades of her skates. She skated through the injury and equipment damage to win the world title at the age of fifteen. The 1993-1994 season would prove to be the peak of Oksanas career. She again won silver at Europeans (behind Bonaly, again) and was sent to the 1994 Winter Olympics in Lillehammer, Norway, to represent Ukraine. After the short program portion of the competition, she was ranked second behind American Nancy Kerrigan. However, like at the previous World Championships, Oksana suffered an accident during practice before the free skate portion: a collision with German skater Tanja Szewcaenko resulted in a back injury and a cut on her leg requiring stitches. Nevertheless, she skated a strong free skate to overtake Kerrigan for Olympic gold. At the age of 16, she was the second-youngest Olympic skating champion in history at the time. Post-Olympic Struggles Despite her Olympic win, Oksana returned to a financially-struggling life in Ukraine. Even the conditions at the ice rink where she and fellow Ukrainian Olympian Viktor Petrenko practiced had been neglected due to lack of funds. Although she could have continued her amateur competitive career, the conditions and lack of support drove Oksana to turn professional instead. She and Zmievskaya negotiated her contract to tour in the United States. Although it was a more lucrative decision, the touring affected her health in several ways. Despite having knee surgery after the Olympics, she returned to the ice quickly in order to practice for touring shows, which permanently affected her ability to execute difficult jumps in particular. She also developed a drinking habit while on tour, which would haunt her for years, get her dropped from the Champions on Ice tour in 1997, and result in several scandalous headlines. In the mid-1990s, figure skating specials were commonplace on American television, and Oksana starred in two: The Nutcracker On Ice and The Wizard of Oz on Ice, both for CBS. the network also produced a 1994 television movie, A Promise Kept, about her life. After her drinking got her booted from the top-tier touring circuit, she continued to make appearances in skating shows, non-skating television programs, and charity shows. In November 2011, Oksana and her manager, Carlo Farina, found evidence of mismanagement of funds by her agency, William Morris. She successfully recovered $9.5 million. This was not the only lawsuit she engaged in. She also sued NBC for unauthorized use of her image, and accused Zmievskaya, Petrenko, and their manager Joseph Lemire of fraud and of falsely attempting to represent her in Ukrainian court proceedings. Present Day Oksana has mostly retired from public life. She married her manager Farina in 2015, changing her name to Oksana Baiul-Farina, and moving to Las Vegas. Unlike many other skaters of her era, she has not rejoined the skating world as a coach or commentator, instead leaving behind a single moment where she was the undisputed best in the world. Sources: Baiul, Oksana. Oksana: My Own Story. Random House, 1997.Oksana Baiul. Encyclopaedia Britannica, 12 Nov. 2018, https://www.britannica.com/biography/Oksana-Baiul

Enterprise Resource Planning Research Paper Example | Topics and Well Written Essays - 500 words

Enterprise Resource Planning - Research Paper Example The product that has been chosen for analysis, SAP ERP, also offers the services to manage one’s business and provide a structured form to the business operations. SAP (2011) explained that SAP ERP has a diverse range of services related to it; self-services for managers and employees, sales-order management, corporate performance management etc. The module of self services (for manager and employees) enables the employees to apply for leaves, in accordance with the number of leaves that have been unconsumed by them. The leaves are instantly sent to the manager in an automated manner for his approval. This system can be useful to create efficiency and productivity in the human resources operations since all the operations are automated. SAP (2011) stated that the availability of data, such as on-going projects and previous leave applications, facilitates effective decision making from the manager. The module of sales order management offers access control to sales data, order processing and basis for the analysis of relevant data. Enterprise Resource Planning Newsletter (2011) agreed that the automation of operations reduces the need for constant administration; therefore administration costs can be reduced significantly.

Advantages and Disadvantages of Conducting Business Offshore Essay

Advantages and Disadvantages of Conducting Business Offshore - Essay Example Therefore, the tax reasons for offshore business are the principal factors in deciding to start the business offshore, though there are other advantages and disadvantage. Making a decision of conducting business offshore entails the motives of establishing a business for a given purpose in a country having different corporate and commercial laws. In fact, there are alternatives allowing solutions like organization of relationships, which are created between the stakeholders of the business contrary to the commercial laws. Consequently, this is a significant way of reducing the level of administrative duties regarding financial statements and tax return, which are not submitted or entries made in the commercial register. Nevertheless, the main objective of the paper is to explore the advantages and disadvantages of conducting business offshore (Gitman and McDaniel 44). Advantages One of the advantages of conducting business offshore relates to the investor or owner protection due to a nonymity that is considered a vital factor of investing. Therefore, there is an advantage associated with anonymity in the beginning phase of a business regarding the utilization of anonymous business with unknown owners. In fact, this is mainly for the purpose of protection against interference from the government bureaucracy and crime. Moreover, this reduces the regulations imposed on a certain business activity in situations such as transacting in business environments in less developed countries. An exemplary example is options regarding a trade of the foreign securities in a country with rules concerning the foreign exchange. Therefore, this makes the business to avoid being subjected to these regulations, given that these kinds of regulations are not common (Bertho 100). The other advantage relates to the taxes, where the international businesses seek ways of maximizing their profit through reduction of cost, which include the tax burden. Therefore, this has been a source of i nspiration for many counties in the world, whereby they reduce taxation imposed on international business in order to attract investors, since the business started through their ventures contributes significantly to the economy due to creation of employment. In this case, this is used as a way of utilizing the advantages provided by governments in this countries and the fiscal system in order to optimize profit or reduce the tax burden through the international tax planning (Committee on the Offshoring of Engineering 143). However, international tax planning has gained popularity due to inappropriateness associated with the taxation in the developed counties. In fact, there is cost incurred by the companies seeking to earn income from which tax is deducted, for example there are cost incurred due to assignment of variables or the sale securities. In situations when a company suffers losses associated with these activities, the subsidiaries that are established become helpful due to the suitability of the tax environment. Therefore, the businesses conducted offshore benefit substantially through minimization of the rate of income tax, where by the business environment can offer a chance for increasing number of tax deductions from revenue gathered from the transaction (Ramanathan 18). Disadvantages There are disadvantages associated with the offshore business, which makes its business model to be unsuitable for some investors. One of the reason is that is poses the threat of destroying the economy of a country, since there are numerous permanent jobs that are lost, while the increasing number