Pharmaceutical Industry and Drugs

Introduction Pharmaceutical industry has been on the upward over the recent years. This attributes to the growing demand of pharmaceutical products because of changing lifestyles experienced in the modern life. Pharmaceutical industry has a responsibility of developing, producing and marketing of drugs licensed for medication purposes.Advertising We will write a custom case study sample on Pharmaceutical Industry and Drugs specifically for you for only $16.05 $11/page Learn More It is the only body allowed in dealing with drugs having met the set conditions, which vary from country to country. This research paper will analyze the pharmaceutical industry based on its market size, research and development as well as regulation governing entry of new drug in the market. Market size and major players Global pharmaceutical market has been reporting an upward trend, which projects to continue over the coming years. Many researches done so far projects that the global pharmaceutical market will produce a total of more than a trillion dollars in its revenue for the year 2012. This is because of the changes that the pharmaceutical industry is undergoing leading to more growth than before. Some of the current changes in the pharmaceutical markets include the shifting growth from the developed markets, increased focus on biotech developed drugs and approval of new drugs (PRLOG, 2012). Some of the leading players who take nearly half of products in the market are Pfizer, Novartis, Bayer, GlaxoSmithKline, Sanofi among others. The pharmaceutical expenditures are on the upward trend due to the pharmaceutical consumption experienced all over the world. The total number of pharmaceutical bills by 2007 was estimated to be USD 650 billion among the OECD countries accounting to 15 percent of the health spending. United States is the leading country in pharmaceutical expenditures per capita of $7,960 followed by Norway and Switzerland. Other leading co untries include Netherlands, Luxembourg, Canada, Denmark and Austria respectively (OECD, 2012). Globalization plays an important role in the pharmaceuticals markets, which is worth mentioning. The states of the third world countries have improved because of globalization from direct participation worldwide. Globalization eases the integration of different countries in forming umbrella bodies with no trade barriers.Advertising Looking for case study on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More This has necessitated the free movement of pharmaceutical products worldwide. It has created global competition among leading brands in the pharmaceutical industry due to movements and marketing by companies. It has enabled the pharmaceutical companies in the long-term planning as they look for business opportunities in some parts of the globe (Kesic, 2009). Research and development Research plays an important role of innovating n ew products, which meets the market demand. As world’s population grows day by day, so does the need for more innovations in solving the emerging problems. Frequent research and developments leads to new products in the market to be used in treating different illness experienced in daily life. There are a number of agencies which funds research and developments. In some cases, American federal meets the cost of research and developments of drugs in collaboration with the public sector. Over the past years, the federal has laid out policy research, which they have funded to a tune of billions through private and public sectors in US (Austin, 2007). Similarly, pharmaceutical companies do meet the cost of research and development, which is latter, passed to consumers through buying the products. The global competition and increased need of resistance drugs are pushing private and pharmaceutical companies to research and develop drugs that meets the need of the public. Meeting th e market demand with new products is very important for pharmaceutical company’s research and developments (Swayne, Duncan Ginter, 2008). Every company is striving in satisfying its clients and developing brand loyalty with them. This makes pharmaceutical companies thrive continuously in producing and innovating new products, which meets the expectation of their customers. Developing strong brands is more important to pharmaceutical companies as it enables them to achieve a competitive advantage. Regulation Food and Drug Administration (FDA) has the mandate of protecting and promoting health of the public through ensuring their safety. It plays a role in approving drugs, which takes two phases namely: clinical trials (CT) and new drug application (NDA).Advertising We will write a custom case study sample on Pharmaceutical Industry and Drugs specifically for you for only $16.05 $11/page Learn More The drug approval process by FDA begins after the client has submitted investigational new drug application(IND) showing preclinical information, which justifies the testing of the drug to humans. In many cases, US subjects 85 % of applications to clinical trials. This ensures safety of the drugs before allowing them into the market (Guarino, 2009). The next stage in the approval process involves phase I of clinical trials, which takes 1-3 years on subjects involving human beings. There is evaluation of safety of the drug and its pharmaceutical contents are at this stage. Phase II trials take two years and only done when a drug successfully passes the first phase. This phase includes evaluation of dosage, broadness of the efficacy and there might be additional safety procedures performed at this phase. If the examination becomes successful at this stage, it proceeds to the third phase, which takes 3-4 years (Guarino, 2009). Phase III is concerned with effectiveness and safety of the developed drug. It takes data from different pop ulations and dosage of up to 3000 people in checking its effectiveness. Successful passing these three stages allows for new drug application (NDA). Some of the information considered includes drug manufacturing and its labeling, data analysis and pharmacokinetics of the drug. A team of Scientist in the Centre of Drug Evaluation and Research also takes clinical and preclinical reports and any analysis in masking it conforms to the laid down procedures of safety measurement. The approval of NDA may take up-to two years, but the company is allowed to market the drug after successful passage and approval of NDA before proceeding to phase IV. Phase IV involves exploration of new population as well as the drugs long-term effects and the response of the participants to the dosage (Guarino, 2009). Conclusion Pharmaceutical industries are involved in research and development because of increased demand for their products. Globalization has played a critical role in marketing their products because they can easily reach other parts of the world without difficulties.Advertising Looking for case study on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Despite the increased demand, which has necessitated more production, the major players are incurring the high cost in relation to research and development of new products. The cost for developing new drugs is passed to the consumer who pays higher in buying the drugs. This concept explains why United States is leading consumers of pharmaceutical products. References Austin, T. (2007). Research and development in the pharmaceutical industry, BO study. Washington DC: Government Printing Press. Guarino, R. (2009). New Drug Approval Process. 5th ed. London: Taylor Francis Kesic, D. (2011). Pharmaceutical industry in strategic development. 2 (6), 29-37. Web. OECD (2009). Health at Glance 2009 OECD indicators: OECD indicators. Canada: OECD Publishing. PRLOG (2012). Global Pharmaceutical market forecast to 2012. Web. Swayne, L, Duncan, W Ginter P. (2008). Strategic management of health care organizations. 6th ed. West Sussex: John Wiley. This case study on Pharmaceutical Industry and Drugs was written and submitted by user Bradley Compton to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Profile of Serial Killer Rodney Alcala

Profile of Serial Killer Rodney Alcala Rodney Alcala is a convicted rapist, torturer, and serial killer who evaded justice for 40 years. Dubbed the Dating Game Killer Alcala was once a contestant on the show, The Dating Game, where he won a date with another contestant. However, the date never happened because the woman found him to be too creepy. Alcalas Childhood Years Rodney Alcala was born on August 23, 1943, in San Antonio, Texas to Raoul Alcala Buquor and Anna Maria Gutierrez. His father left, leaving Anna Maria to raise Alcala and his sisters alone. At around the age of 12, Anna Maria moved the family to Los Angeles. At the age of 17, Alcala joined the Army and remained there until 1964 when he received a medical discharge after being diagnosed with a severe anti-social personality. Alcala, now out of the Army, enrolled in UCLA School of Fine Arts where is earned his Bachelor of Fine Arts degree in 1968. This is the same year that he kidnapped, raped, beat, and tried to kill his first known victim. Tali Shapiro Tali Shapiro was an 8-year-old on her way to school when she was lured into Alcalas car, an act that did not go unnoticed by a nearby motorist who followed the two and contacted police. Alcala took Tali into his apartment where he raped, beat, and attempted to strangle her with a 10-pound metal bar. When police arrived, they kicked in the door and found Tali laying on the kitchen floor in a large puddle of blood and not breathing. Because of the brutality of the beating, they thought she was dead and begin to search for Alcala in the apartment. A police officer, returning to the kitchen, saw Tali struggling to breathe. All attention went to trying to keep her alive, and at some point, Alcala managed to slip out the back door. When searching Alcalas apartment, the police found several pictures, many of young girls. They also found out his name and that he had attended UCLA. But it took several months before they would find Alcala. On the Run but Not Hiding Alcala, now using the name John Berger, fled to New York and enrolled in NYU film school. From 1968 to 1971, even though he was listed on the FBIs most wanted list, he lived undetected and in full view. Playing the role of a groovy film student, amateur photographer, single hot shot, Alcala moved around New Yorks single clubs. During the summer months, he worked at an all girls summer drama camp in New Hampshire. In 1971, two girls attending the camp recognized Alcala on a wanted poster at the post office. The police were notified, and Alcala was arrested. Indeterminate Sentencing In August 1971, Alcala was returned to Los Angeles, but the prosecutors case had a major flaw - Tali Shapiros family had returned to Mexico soon after Tali recovered from the attack. Without their main witness, the decision was made to offer Alcala a plea deal. Alcala, charged with rape, kidnapping, assault, and attempted murder, accepted a deal to plead guilty to child molestation. The other charges were dropped. He was sentenced to one year to life and was paroled after 34 months under the indeterminate sentencing program. The program allowed a parole board, not a judge, to decide on when offenders could be released based on if they appeared rehabilitated. With Alcalas ability to charm, he was back out on the streets in less than three years. Within eight weeks he returned to prison for violating his parole for providing marijuana to a 13-year-old girl. She told police that Alcala kidnapped her, but he was not charged. Alcala spent another two years behind bars and was released in 1977, again under the indeterminate sentencing program. He returned to Los Angeles and got a job as a typesetter for the Los Angeles Times. More Victims It did not take long for Alcala to get back into his murderous rampage. The Murder of Jill Barcomb, Los Angeles County In November 1977, Alcala raped, sodomized, and murdered 18-year-old Jill Barcomb, a New York native who had recently moved to California. Alcala used a large rock to smash in her face and strangle her to death by tying her belt and pant leg around her neck.Alcala then left her body in a mountainous area in the foothills near Hollywood, where she was discovered Nov. 10, 1977, posed on her knees with her face in the dirt.Murder of Georgia Wixted, Los Angeles County In December 1977, Alcala raped, sodomized, and murdered 27-year-old nurse Georgia Wixted. Alcala used a hammer to sexually abuse Georgia, then used the claw end of the hammer to beat and smash in her head. He strangled her to death using a nylon stocking and left her body posed in her Malibu apartment. Her body was discovered Dec. 16, 1977.Murder of Charlotte Lamb, Los Angeles County In June 1979, Alcala raped, beat, and murdered 33-year-old legal secretary Charlotte Lamb. Alcal a strangled Charlotte to death using a shoelace from her shoe and left her body posed in a laundry room of an El Segundo apartment complex where it was discovered on June 24, 1979. Murder of Jill Parenteau, Los Angeles County In June 1979, Alcala raped and murdered 21-year-old Jill Parenteau in her Burbank apartment. He strangled Jill to death using a cord or nylon. Alcalas blood was collected from the scene after he cut himself crawling through a window. Based on a semi-rare blood match, Alcala was linked to the murder. He was charged with murdering Parenteau, but the case was later dismissed.Murder of Robin Samsoe, Orange County On June 20, 1979, Alcala approached 12-year-old Robin Samsoe and her friend Bridget Wilvert at Huntington Beach and asked them to pose for pictures. After posing for a series of photographs, a neighbor intervened and asked if everything was alright and Samsoe took off. Later Robin got on a bike and headed to an afternoon dance class. Alcala kidnapped and murdered Samsoe and dumped her body near the Sierra Madre in the foothills of the San Gabriel Mountains. Her body was scavenged by animals, and her skeletal remains were discovered on July 2, 1979. Her front teeth had been knocked out by Alcala. Arrested After the Samsoe murder, Alcala rented a storage locker in Seattle, where police found hundreds of photos of young women and girls and a bag of personal items that they suspected belonged to Alcalas victims. A pair of earrings found in the bag were identified by Samsoes mother as being a pair she owned. Alcala was also identified by several people as the photographer from the beach on the day Samsoe was kidnapped. Following an investigation, Alcala was charged, tried, and convicted for Samsoes murder in 1980. He was sentenced to receive the death penalty. The conviction was later overturned by the California Supreme Court. Alcala was again tried and convicted of the murder of Samsoe in 1986 and was again sentenced to the death penalty. The second conviction was overturned by the 9th Circuit Court of Appeals. Three Times a Charm While awaiting his third trial for the murder of Samsoe, DNA collected from the murder scenes of Barcomb, Wixted, and Lamb was linked to Alcala. He was charged with the four Los Angeles murders, including Parenteau. At the third trial, Alcala represented himself as his defense attorney and argued that he was at Knotts Berry Farm on the afternoon that Samsoe was murdered. Alcala did not contest the charges that he committed the murders of the four Los Angeles victims but rather focused on the Samsoe charges. At one point he took the stand and questioned himself in third-person, changing his tone depending on if he was acting as his lawyer or as himself. On Feb. 25, 2010, the jury found Alcala guilty of all five counts of capital murder, one count of kidnapping and four counts of rape. During the penalty phase, Alcala attempted to sway the jury away from the death penalty by playing the song Alices Restaurant by Arlo Guthrie, which includes the lyrics, I mean, I wanna, I wanna kill. Kill. I wanna, I wanna see, I wanna see blood and gore and guts and veins in my teeth. Eat dead burnt bodies. I mean kill, Kill, KILL, KILL. His strategy did not work, and the jury quickly recommended the death penalty to which the judge agreed. More Victims? Immediately after Alcalas conviction, the Huntington Police released 120 of Alcalas photos to the public. Suspecting that Alcala had more victims, the police asked for the publics help in identifying the women and children in the photos. Since then several of the unknown faces have been identified. New York Murders Two murder cases in New York have also been linked through DNA to Alcala. TWA flight attendant Cornelia Michael Crilley, was murdered in 1971 while Alcala was enrolled at NYU. Ciros Nightclub heiress Ellen Jane Hover was murdered in 1977 during the time that Alcala had received permission from his parole officer to go to New York to visit family. Currently, Alcala is on death row at San Quentin State Prison. Sources Orange County District Attorney48 Hours Mystery: Rodney Alcalas Killing Game

Psychology - Critical Thinking Piece Essay Example | Topics and Well Written Essays - 500 words

Psychology - Critical Thinking Piece - Essay Example For this reason, a lot of psychologists and sociologists have considered the building of a positive self-esteem to be the best solution in solving psychological and social problems. (Leary, 1999a: 32 – 33) In line with the effort of psychologists in measuring the self-esteem of a person, sociometer theory was developed in order to serve as a psychological tool that measures the quality of social relationship in life of a person. (Leary, 1999b: 33) Personally, I do agree that developing a high self-esteem is essential part of our lives in terms of being able to socially cope with other people in our environment. However, measuring the degree of self-esteem in each individual with the use of the sociometer theory seems to be illogical because of the so many immeasurable factors such as culture and traditions as well as other negative experiences in life such as criticism, failure, peer rejection (Leary, 1999a: 34), sexual abuse or maltreatment that could either directly or indirectly affect the self-esteem of a human being. For example: some parents who lives in the Asian countries may use physical abuse as a method of rearing a child. On the contrary, most parents who resides in a Western country are trying to avoid physical abuse in rearing a child because of the law that protects the children from any forms of physical harm. Even with the use of research survey, we need to face the fact that it is not possible to accurately measure the exact number of children who has experienced physical abuse or harm which could affect the low self-esteem of a person in each geographic region. According to Leary (1999a: 33), â€Å"sociometer continuously monitors the environment for cues regarding the degree to which the individual is being accepted versus rejected by other people.† Perhaps it is possible that the use of sociometer could detect whether or not the increase or decrease in the self-esteem in general could

Organizational Design and Culture Essay Example | Topics and Well Written Essays - 1750 words

Organizational Design and Culture - Essay Example Earlier Home Depot was following decentralized organizational process. Due to increasing competition within the market place the organization decided to bring change in the organizational design. They transformed to centralization process in order to concentrate the decision making authority at the higher levels within the organization. Maintain appropriate balance between the centralization and decentralization process is huge challenge for several leading global organizations. Home Depot is one of the global retail giant. The organization has more than 2000 retail stores across the globe (Griffin, 2007). This centralization process allows the store managers to undertake several decisions independently and autonomously. Therefore, it can be stated that each retail outlet of Home Depot has entrepreneurial work culture. This process helped to save lot of money and increase business productivity. This centralization process helps the company to reduce operational cost as the company ne gotiates effective discounts from the existing suppliers. Home Depot follows flatter organizational hierarchy. The organizational hierarchy of Home Depot consists of few layers. Flatter organizational hierarchy helps an organization to provide its employees huge level of self actualization and greater satisfaction needs. At the same point of time there are several disadvantages too. Due to limited management layers, this organizational structure cannot provide effective advancement opportunity to the employees. Home Depot implemented multidivisional structure in their departmentalization process. This divisional structure helps to represent several unique employees, geographic locations, customers, products and services for the organizations. For an example, a marketing executive within an organization with a divisional organizational structure may be in the charge of promotional planning, and scheduling and executing a marketing research for a particular product line controlled by that executive’s division. Formalization structure is one of the important and effective tools of Home Depot’s organizational design. Formalization structure helps to develop effective rules and regulations. It controls the employee behavior. This formalization structure helped Home Depot to provide the organizational direction to the employees. Due to this structure the employee behavior becomes more predictable. This structure helps the employees to follow the specific guideline or legal organizational procedure of an organization in a critical situation. This strategy is generally utilized in the service industry. Mechanism structure is another organizational design tool of Home Depot. This organizational structural tool is very much centralized and formalized. Home Depot follows formal communication process with the help of this structure. This structure forces the employees to follow discipline and take effective responsibility depending upon the job role. This st ructure helps an organization to maximize the organizational efficiency and minimize the operational cost. Question 2 Home Depot employed an effective corporate culture in order to support the business strategies. The organization follows cluster strategy to utilize the work group in the organization. It helps to accomplish the future goals and objectives of the organization. The managers help the employees to work collaboratively. The store managers divide the

E-mail and social media investigations Article Example | Topics and Well Written Essays - 250 words

E-mail and social media investigations - Article Example Pharming involves a hacker installing a spiteful code on a private computer or one’s server that later redirects to a webpage that was not expected and smishing involves the use of text messages to entice customers (Van, 2013). The advantages of circular logging is that it helps provide recovery from any transaction failure or any form of system crash through that may occur (Van, 2013). The logs are retained until the integrity of the current transactions is ensured. The disadvantage, however, is that it is difficult to restore the database and roll it forward in case a failure occurs. When investigating an e-mail abuse, one needs to detect how the server registers and handles the email upon receiving it. This is because the e-mail can either in the form of a flat file or the users’ e-mail (Van, 2013). The information available on social media may be used in investigation, since social media acts a snitch (Van, 2013). The information can be used through scrolling through the current updates and the feeds that the site might have. This means that the sites can be used as crime detection partners through provision of evidence. Proof of integrity and validity can be accessed through finding the origin of the report and the reporters of the same (Van,

The Criticism Of The Modigliani And Miller Hypothesis Finance Essay

The Criticism Of The Modigliani And Miller Hypothesis Finance Essay Capital structure has a major implication to the ability of firms to meet the various needs of stakeholders. There were various studies carried out on capital structure and major development on new theories for optimal debt to equity ratio. The first milestone on the issue was set by Modigliani and Miller(1958) through which they presented in their seminal work two important propositions that shaped the economic theory behind capital structure and its effect on firm value. The Modigliani and Miller hypothesis is identical with the net operating income approach. At its heart, the theorem is an irrelevance proposition, but the Modigliani-Miller Theorem provides conditions under which a firms financial decisions do not affect its value. They argue that in the absence of taxes, a firms market value and the cost of capital remain invariant to the capital structure changes. In their 1958 articles, they provide analytically and logically consistent behavioural justification in favour of their hypothesis and reject any other capital structure theory as incorrect. The Modigliani-Miller theorem states that, in the absence of taxes, bankruptcy costs, and asymmetric information, and in an efficient market, a companys value is unaffected by how it is financed, regardless of whether the companys capital consists of equities or debt, or a combination of these, or what the dividend policy is. Miller (1991) explains the intuition for the Theorem with a simple analogy. Think of the firm as a gigantic tub of whole milk. The farmer can sell the whole milk as it is. Or he can separate out the cream, and sell it at a considerably higher price than the whole milk would bring. He continues, The Modigliani-Miller proposition says that if there were no costs of separation, (and, of course, no government dairy support program), the cream plus the skim milk would bring the same price as the whole milk. The main content of the argument is that increasing the amount of debt (cream) lowers the value of outstanding equity (skim milk) and selling off safe cash flows to debt-holders leaves the firm with more lower valued equity,thus keeping the total value of the firm unchanged. Furthermore, any gain from using more of what might seem to be cheaper debt is offset by the higher cost of now riskier equity. Assumptions: The Modigliani-Miller theorem can be best explained in terms of their proposition 1 and proposition 2. However their proposition are base on certain assumption and particularly relate to the behaviour of investors, capital market, the actions of the firm and the tax environment. According to I.M Pandey(1999) the assumptions of the Modigliani Miller theorem is based on: Perfect capital markets These are securities (shares and debt instruments)which are traded in the perfect capital market situation and complete information is available to all investors with no cost to be paid. This also means that an investor is free to buy or sell securities, he can borrow without restriction at the same terms as the firm do and he behave rationally. It also implies that the transaction cost(cost of buying and selling securities) do not exist. Homogeneous risk classes Firms can be group into homogeneous risk classes. Firms would be considered to belong to a homogeneous risk class if their expected earnings have identical risk characteristics. It is generally implied under the M-M hypothesis that firms within same industry constitute a homogeneous class. Risk The risk of the investors is defined in terms of the variability of the net operating income(NOI). The risk of investors depends on both the random fluctuations of the expected NOI and the possibility that the actual value of the variable may turn out to be different than their best estimate. No taxes In the original formulation of their hypothesis, M-M assume that no corporate income taxes and personal tax exist. That is, they are both perfect substitute. Full payout Firms distribute all net earnings to the shareholders, which means a 100% payout. Proposition 1: the market value of any firms is independent of its capital structure. M-M(Modigliani and miller) argue that for firms in the same risk class the total market value is independent of the debt-equity mix and is given by capitalizing the expected net operating income by the rate appropriate to that risk class. This is their proposition 1 and can be expressed as follows: Value of firm= Market value of equity + Market value of debt = V= (S + D) = = Where V = the market value of the firm S = the market value of the firms ordinary equity D = the market value of debt = the expected net operating income on the assets of the firm = the capitalization rate appropriate to the risk class of the firm. Also, M-M extended proposition 1 by arguing that there is a linear relationship between cost the cost of equity and the financial leverage. Financial leverage is measured by the Debt to Equity ratio(D/E).The cost of equity capital can be denoted by the following relationship: = + ( ) DE Where denotes cost of equity capital; denotes overall cost of capital and denotes cost of debts of the firm L . Based on the assumption that there is no corporate tax then is equal to the rate of interest on financial leverage employed by the firm. The diagram below shows the cost of capital under the Modigliani and Miller proposition 1.http://htmlimg3.scribdassets.com/2vohdy2ptsw5n23/images/12-7ef603c995.jpg Example: Example 1 Example 2 DE 2/3 1 0.18 1.18 0.10 0.10 23.3% 26% It can be seen that due to an increase in financial leverage the risk premium of equity shareholders have increased from (23-18) = 5% to (26-18) = 8 %. We can also verify for the , which is given below: When debt equity ratio is 2:3 + = 18% The similar result is obtained when DE is 1. + = 18% It can be concluded that the overall cost of capital, which is the weighted average cost of debt and cost of equity, is unaffected even if the degree of financial leverage is increased. As per the M-M model, however , any benefits arising by substituting cheaper leverage for more expensive equity are offset by an increase in both the costs as reflected on the following graph. Arbitrage process: Arbitrage process is base on the principle that Proposition 1 is based on the assumption that 2 firms are identical except for their capital structure which cannot command different market value and have different cost of capital. Modigliani and Miller do not accept the net income approach on the fact that two identical firms except for the degree of leverage, have different market values. Arbitrage process will take place to enable investors to engage in personal leverage to offset the corporate leverage and thus restoring equilibrium in the market. Criticism of the Modigliani and Miller hypothesis: On the basis of the arbitrage process, M-M conclude that the market value of firms are not affected by leverage but due to the existence of imperfections in the capital market, arbitrage may fail to work and may give rise to differences between the market values of levered and unlevered firms. The arbitrage process may fail to bring equilibrium in the capital market for the following reasons: Lending and borrowing rates differences: Based on the assumption that firms and individuals can borrow and lend at the same rate of interest does not hold good in practice. This is so because firms which hold a substantial amount of fixed assets will have a higher credit standing, thus they will be able to borrow at a lower rate of interest than individuals. Non-substitutability of personal and corporate leverages: It is incorrect to say that personal leverage and corporate leverage are perfect substitute because of the existence of limited liability a firms hold compare to the unlimited liability of individuals hold. For examples, if a levered firm goes bankrupt, all investors will lose the amount of the purchase price of the shares. But if an investor creates personal leverage, in the event of a unlevered firms insolvency, he would lose not only his principal in the shares but also be liable to return the amount of his personal loan. Transaction costs: Transaction cost interfere with the working of the arbitrage. Due to the cost involved in the buying and selling of securities, it is necessary to invest a larger amount in order to earn the same return. As a result , the levered firm will have a higher market value. Institutional restrictions: Personal leverage are not feasible as a number of investors would not be able to substitute personal leverage for corporate leverage and thus affecting the work of arbitrage process. Corporate taxation and personal taxation: M-M theory is also criticize for the reason that it ignores the corporate taxation and personal taxation. Retained earnings: It also ignores personal aspect of financing through retained earnings. In real world , corporate will not pay out the entire earnings in the form of dividends. Investors willingness: Investors will not show much interest in purchasing low rated issued by highly geared firms.

The Atomic Bombs Impression on Scientific History Essay -- Atomic Wea

The Atomic Bomb's Impression on Scientific History This website validates the impressive nature of the development of the Atomic bomb as part of scientific history. It will discuss the discoveries that scientists made throughout history that were vitally important to the project. Additionally, this site will also cover the development of the Manhattan Project, including the different production facilities that existed. Lastly, this site will cover the testing of the first Atomic bomb. The development of the Atomic bomb is the most impressive scientific development in history. The development of the bomb began with scientists working on independent projects, which climaxed with the Manhattan Project, and merged full strength with the testing at Trinity. The background and history of the science that lead up to the Manhattan Project is important because it incorporates many ideas from prior decades. The Manhattan Project is the largest demonstration of the scientific community coming together ever. Hundreds and thousands of people and communities came together for one common goal, to end World War II. Finally, the power and awe of this project itself was realized with the testing at Trinity. This marked the end of the Manhattan Project. It is for these three reasons that the development of the Atomic bomb is the most impressive development in scientific history. The development of the Atomic bomb was impressive because it was an accumulation of decades of physics and chemistry. Before anyone ever thought or expressed ideas about mass production of atomic bombs, scientific groundwork had to be established. Forty years prior to the making of the Atomic bomb scientists were developing ideas that would later become the ba... ...crifice personal profits for the common goal of ending the war without knowing if the project would even work is also what makes this so extraordinary. It is for all these reasons that the development of The Atomic bomb is the single most remarkable scientific development in history. References: Printed Materials 1. Groueff, Stephane. Manhattan Project: The Untold Story of the Making of the Atomic Bomb. Canada:Little Brown and Company, 1967. p3-362 2. Groves, Leslie R. Now it can be Told: The Story of the Manhattan Project. New York: Harper and Brothers, 1962. p 68-93. 3. Lens, Sidney. The Bomb. New York: E.P. Dutton, 1982. p 4-10. 4. Meadows, Jack. The Great Scientists. New York: Oxford University Press, 1987. 5. Rhodes, Richard. The Making of Atomic Bomb. New York: Sim and Schuster, 1986. p 394- 395, 487-491, 547-548, 602.

Culture of India Essay

Indian culture can be compared to a rapid river, which takes source from a little well high in the Himalayas and flows down among blossomy valleys and thick forests, beautiful gardens and farms, small villages and big cities. Many tributaries join it, and the mainstream becomes stronger and more powerful. There is a great variety of ethnic groups and communities with their beliefs, languages and culture living in India. However, numerous aspects of exclusive traditional Indian culture can be easily spotted everywhere. For centuries, the country lived through a lot of changes, assimilated various elements of other cultures, but it successfully preserved its ancient traditions and legacy. The progression of Indian culture started from the early civilizations. Historical records of Hrappa and Brahmanic epochs (5000-800 B. C. ) prove that a great deal of traditions and cultural elements (such as Sanskrit, yoga, early Hinduism, etc. ) were practiced in those times. Buddhism and Jainism emerged in the 5th century B. C. The epoch of Mautya and Gupta Empires is called â€Å"Golden Age† of Indian culture. The Emperors of Gupta dynasty loved arts and favored the development of literature, music and early plastic arts, mostly dominated by religious motifs. As a result of European and Oriental colonization, Indian culture absorbed the elements of Greek, Roman, Chinese and other cultural traditions. Muslim conquests in the 11th-15th centuries had a great impact on Indian social and cultural life. In particular, Hinduism adopted many philosophical ideas of Sufism, and the influence of Islamic artistic traditions can be seen in Indian architecture (Gol Gumbaz, Taj Mahal), literature (the works of Amir Khusrau Dehlavi and Kabir) and music. In the 16th-18th centuries, Indian culture was again influenced by European domination that resulted in adoption of English educational system and other progressive social standards. Since Christian missionaries started changing religious and social awareness of Indian masses to a great extent, in the end of the 18th century a great reformatory movement for cultural and spiritual revival of the nation (known as Brahmo Samaj) was initiated (Henderson). Modern India has a complex ethnic composition and very diverse linguistic lines. Over 400 languages and 1,100 various dialects are spoken. Southern ethnic groups use Dravidian languages, including Tamil, Malayalam, Telugu and Kannada, which are among the 15 official languages of the country. Indo-Aryan languages, such as Hindi, Marathi, Gujatari, Bangali and others, are used in the northern regions. These languages take source from ancient Sanskrit and are used by almost one third of Indian population (Culturopedia). Indian social culture is one of the most conservative and rigid in the world. Such traditions as cast system or arranged marriages are still widely practiced. On the other hand, local social environment is connected with everything relaxing, joyful and colorful. Traditional Indian clothing (sari, Lungi, Dhoti, ect. ) has a plethora of styles and colors. Also, India is known as a land of celebrations, fairs and festivals (Diwali, Ganpati, etc. ), crowded ceremonies, communication, dancing and other social leisure activities. Religious practices are central in the life of every Indian and people spend a lot of time in Hindu temples, where they socialize, listen to music and dance. Indian cultural environment is a cradle of Buddhism, one of the most influential philosophical concepts and â€Å".. a seed bed for human rights† (Henderson 4). At the same time, Christianity, Islam, Sikhism, Zoroastrism and other world’s religions are quite popular in modern India as well. Indian visual arts have a great range of forms and motifs, starting from intricate architecture of Hindu shrines and ending with traditional decorated textiles. Such crafts as stone work, wood work, metal works and glass products are very popular in today’s India. Indian painting has been flourishing for centuries, and there are a number of traditional artistic schools (such as Pahari, Kalighat, Kangra, Tanjore, Rajput, etc. ). Modern Indian art is dominated by social, philosophic and humanitarian motifs. Cinema industry in India has more than 100 years of history and is extremely successful and lucrative. Indian movies are being watched in many countries of the world, and they have a tremendous influence on domestic economy and cultural life. The movies portray political and social aspects, and some are based on local folklore. Indian literature and poetry take source from ancient Sanskrit, Vedic and epic texts (Ramayana, the Mahabharata) and embrace a lot of schools (Bengali, Punjabi, Urdu, Manipuri, etc. ). R. Tagore is the most known Indian writer and poet, who got the Noble prize for literature in 1913 (UCLA). In modern Indian culture, music is mostly associated with cinema, because Indian movies are filled with songs and dancing. However, there are a lot of people who are fond of classic Indian music styles (Hindu devotional dhrupad, khayal or raga). Such music is played with traditional Indian folk instruments, such as sitar and surbahar, as well as with flute, violin, tabla, veena, etc. Indian dance culture is very diverse and unique. Its roots go back to ancient epochs and have clear spiritual, expressive and cosmic elements, symbolizing human emotions (9 rasas of emotions) and unity with Gods. The contribution of Indian culture and science to the world is unprecedented. Chess, the decimal system and the concept of â€Å"zero†, significant innovations in astronomy, new medical approaches and therapeutic techniques, the first university in the world are among the most valuable and precious gifts of the Indians to the humanity. India has a unique and rich cultural heritage, which can be characterized by unity and diversity, traditionalism and innovations. Taking into account all these numerous achievements of Indian nation, it is impossible to question the opinion of Will Durant, who wrote that â€Å"†¦ Mother India is in many ways the mother of us all† (Culturopedia). Works Cited: â€Å"Encyclopedia of Indian Culture. † Culturopedia. Treasure House of India’s Culture and Heritage. 2008. 19 Oct. 2008 . Henderson, Carol E. â€Å"Customs and Culture of India. † Westport, CT: Greenwood Publishing Group, 2002. â€Å"Manas: Culture of India. † UCLA. College of Letters and Science. 19 Oct. 2008 .

Awesome Love Quotes Through the Ages

Awesome Love Quotes Through the Ages What is love without expression? One of the ways to express love is by writing the classic love letter. If you happen to be the inventive and poetic kind, then writing a love letter is probably effortless. However, if you are a regular person who wants to pen a few lines for your beloved, then the following awesome love quotes could be of help. Paulo Coelho I love you because the entire universe conspired to help me find you. Phoenix Flame Marriage is love personified. Swedish Proverb Love is like dew that falls on both nettles and lilies. Turkish Proverb Young love is from the earth, and late love is from heaven. Douglas Yates People who are sensible about love are incapable of it. Henry Miller â€Å"The only thing we never get enough of is love; and the only thing we never give enough of is love.† James D. Bryden Love does not die easily. It is a living thing. It thrives in the face of all of   lifes  hazards, save  one: neglect. Anonymous The essential sadness is to go through life without loving. But it would be almost equally sad to leave this world without ever telling those you loved that you love them. Herman Hesse â€Å"If I know what love is, it is because of you.† Some of us think holding on makes us  strong; but  sometimes it is letting go. Jorge Luis Borges To fall in love is to create a religion that has a fallible god. Gregory Maguire †¦and he kissed her and kissed her and kissed her, little by little by little. D. H. Lawrence I am in love - and, my God, it is the greatest thing that can happen to a man. I tell you, find a woman you can fall in love with. Do it. Let yourself fall in love. If you have not done so already, you are wasting your life. Julian Barnes Love is just a system for getting someone to call you darling after sex. Isha McKenzie-Mavinga On reflection, one of the things I needed to learn was to allow myself to be loved. Edmond Medina Things we do, we do for ourselves. But that which we love we have no choice but to give away. Norman Lindsay The best love affairs are those we never had. English Proverb Faults are thick where love is thin. Fyodor Dostoevski Love in action is a harsh and dreadful thing compared with love in dreams. Lao Tzu Being deeply loved by someone gives you strength, while loving someone deeply gives you courage. Friedrich Nietzsche Women can form a  friendship  with a man very  well; but  to preserve it to that end a slight physical antipathy must probably help. Barbara Bush I married the first man I ever kissed. When I tell this to my children, they just about throw up. Sara Paddison As you continue to send out love, the energy returns to you in a regenerating spiral... As love accumulates, it keeps your system in balance and harmony. Love is the tool, and more love is the end product. Jane Austen You pierce my soul. I am half agony, half hope†¦I have loved none but you.

How to Handle Post Interview Silence

How to Handle Post Interview Silence We’ve all been there. You get the interview.   You do well.   You send the requisite thank you note to follow up. And†¦ nothing. The doubts set in, so does the despair. Rather than sit there doing nothing, and going quietly insane, consider any of the following options. 1. Gently nudgeDon’t be annoying. Don’t stalk anyone. And don’t call multiple times. But you can make one targeted phone call, or send one email to follow-up after your follow up and inquire as to their hiring time table.2. StrategizeIf you’re going to go for the nudge, make sure you make a plan. Fight off the urge to nudge again after your nudge- ad nauseum. Promise yourself you’ll not follow-up again for two weeks, or whatever time frame makes most sense, then stick to that. Set yourself a follow-up calendar if you have a hard time keeping track. It’s good to show your interest and eagerness, but bad to take a step over the line into pestering.3. Take the hig h roadWhen you do get a person on the phone or via email, and you get slightly disappointing news- they’re waiting for a more experienced candidate, they’re nowhere near making a decision for internal, logistical reasons, or whatever else- try fielding it with grace. Being pleasant and professional and upbeat will go a long way. Even if you don’t get this job this time. Your demeanor will be remembered well.4. Work your connectionsSee if you know anyone in your social media network who works at the company. If you’re close enough to ask them, they might be able to give you some insights into the hiring process for your position.5. Take your cuesBefore you reengage to follow-up again, think about how your efforts went over the last time you got in touch. Was the door left open? Or did they make it more or less clear that you should follow the â€Å"don’t call us, we’ll call you† rule of thumb? Pay attention to the signals you’ve received and act accordingly.6. Aim higherIf you’re applying to a bigger company and feel your file has gotten lost in the bowels of HR, and you’ve weighed the risks, it might be appropriate to take your candidacy up the food chain. Try shooting a polite and professional inquiry to the person you’d be working for directly. You never know; they might admire your initiative.7. Trust yourselfListen to your gut instinct. Is it saying â€Å"you didn’t get this one, just let it go†? If that’s the case, cut your losses and move on. There is no call for desperation. There are other opportunities. Open yourself up fully to those once you realize a door is closed.8. Don’t take it personallyIf you do get rejected, or worse, just ignored, it probably says a lot more about the level of professionalism at that company than it does about you. It might even be the case that, over the course of your application, the company changed the scope of that position, or eliminated it entirely, and aren’t keen to publicize that fact. Sometimes never hearing back is just an unfortunate thing that happens. Let it go, smile wide, and move on. And keep the way they’ve handled this process in mind should they reach out to you in the future.

Marketing Communications Plan Essay Example | Topics and Well Written Essays - 2500 words - 1

Marketing Communications Plan - Essay Example The mission is accomplished and is reflected in the documentation of the report. The rapid growth and consumer acceptance of digital music had led to an tremendous increase in the production of hi-fi audio products. There has been a constant increase in the demand of audio products likes MP3’s, DVDs, CDs and so on and a large number of manufacturers and retailers are enjoying the boom in this market. There are a large number of factors which have resulted in such a success. In stereo systems and other audio products, US and European companies have survived by focusing on skill-intensive and design-intensive products. Environment: Launching the audio products in a market area where consumer awareness exists would prove to be more beneficial as no efforts would be required in monetary and non-monetary terms to make the consumer aware of the products. An internal and external analysis of the environment would prove to be very beneficial in smoothening the process of the launch of new products in a new market.

The Impacts of Fast Foods on Obesity and Weight of College Students Assignment

The Impacts of Fast Foods on Obesity and Weight of College Students - Assignment Example These types of foods have been strongly criticized particularly due to issues of health. Many studies have, in fact, attributed the high level of overweight and obesity to these foods. This paper intends to look into the impact of fast foods on obesity and overweight because these are health concerns that have originated very many diseases nowadays. Obesity is a medical condition whereby the body of an individual contains very high level of body fats to a level of occasioning adverse health impacts. When the body mass index (BMI) is greater than 30 kg/m2, a person is said to be suffering from obesity. Such a person is highly susceptible to diseases such as type II diabetes, heart diseases, osteoarthritis and certain types of cancers, among many others (Haslam and James, 2005). The fast spread of fast foods in restaurants has generated a lot of debate especially regarding the impact of such foods on the health of people. In fact, many nutritionists and health professionals have cautioned their clients against overconsumption of such foods as they claim their health risk can be massive (Abdollah, 2007; Mcbride, 2008; Mair et al. 2005). However, it is notable that the evidence that links fast food to obesity and gain in weight is not very convincing. Most of those who claim that it fast foods is responsible for obesity have conducted their research on very small samples hence narrowing the validity of their generalization. A recent study by Rosenheck (2008), on the relationship between fast foods and obesity, it was found that the results from observational studies have not been able to establish a link between obesity and fast foods. A couple of recent studies have paid attention to fast foods restaurant as possible contribute avenues of gaining weight (Philipson and Posner, 2008). Anderson and Matsa (2009) concentrate on the connection between obesity and feeding habits, whereby the related the presence of many restaurants around the highway in a  rural area and the eating habits. However, they found no credible link between obesity and restaurants.  Ã‚