Substance / Medication Induced Anxiety Disorder - 1389 Words

substance is more appropriate, Major Depressive Disorder is not diagnosed (American Psychiatric Association, 2013). Maria describes instances of panic attacks to which she is prescribed Xanax. Although she describes some anxiety is social events, more information is needed to provide an accurate diagnosis of any anxiety disorder. Also, a further exploration of the use of Xanax, Valium, Redux and alcohol is combination is necessary. Because it is unknown as to when the anxiety attacks started, an argument for Substance/Medication-induced Anxiety Disorder is unfitting. Still, it is argued that if her panic attacks started after the increase use of alcohol or Valium, a diagnosis for Substance/Medication-induced Anxiety Disorder may be†¦show more content†¦She also is a woman is corporate America which means she is a further minority in her work place which may place undue pressure on her and her expectations to excel. Women are often overlooked and mistreated in corporate Ameri ca, making her work place environment an additional challenge (Fernandez Campero, 2017). Cultural Implication Several cultural implications arise, as Maria is a young, Latina working in corporate America. In addition, the lack of cultural sensitivity may affect Maria in not only her work place, but in her understanding of mental health in the United States. Maria was prescribed Xanax for her panic attacks, but it has been well reported that often Latinas experience anxiety and panic attacks differently from the rest of the population. Ataqu de nervios, has shown to be related to the fear of negative emotions like anxiety and anger, which Maria may be experiencing after the death of her father of other psychological factors (Hinton, Lewis-Fernà ¡ndez, Pollack, 2009). In addition, Maria was ordered to receive services versus entering on her own behalf, which is not uncommon among Latino/as because they are more likely to seek aid from other sources (Comas-Diaz, 2006). Also, depending of Maria’s ability to pass for white, her assimilation level and ability to code switch fromShow MoreRelatedSymptoms And Symptoms Of Schizoaffective Disorder1230 Words   |  5 PagesSchizoaffective disorder (abbreviated as SZA or SAD) is a mental disorder characterized by abnormal thought processes and deregulated emotions. The diagnosis is made when the patient has features of both schizophrenia and a mood disorder, either bipolar disorder or depression, but does not strictly meet diagnostic criteria for either alone. The bipolar type is distinguished by symptoms of mania, hypomania, or mixed episode; the depressive type by symptoms of depression only. 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The Key to Happiness Free Essays

The key to Happiness Is the glass half empty, or is it half full? A true optimist would say that the glass is half full. That is because an optimist will always lean towards the more positive option. Optimism is defined as â€Å" the inclination to look at the bright side of any situation, and expect the best possible outcome from any series of events. We will write a custom essay sample on The Key to Happiness or any similar topic only for you Order Now Anyone can be optimistic, some people choose optimism as a way of life, it can reduce stress producing a better quality of life, and if used on a regular basis optimism can be the key to happiness. Anyone at all can practice optimism. To be an optimist all one has to do is choose to see the positive side of a situation. Its like the saying, â€Å"Count your blessings. † A person may feel that they have nothing to be positive about, but when they are reminded of the positive things in their lives they tend to forget about the negative. Optimism can be developed when one has realistic goals and expectations. Optimists don’t fall into a trap of feeling hopeless, instead they strive for growth and positive change. Being optimistic is not about pretending that everything is okay. It is about thinking positively when things go wrong, learning from them, and moving forward. Optimism can be incorporated into any activity that takes place on any given day and if used on a regular basis, people will see a positive change in their lives. Optimism can produce a better quality of life. Anxiety and negative emotions can take its toll on the body, it can affect your cardiovascular and your immune system. Having an optimistic attitude can protect against these effects. Research has shown the people who choose to have an optimistic attitude about their future behave differently. Optimists have been known to exercise more, smoke less and eat healthier. When they fall ill, optimists are more likely to participate actively in their treatment. Some would say, â€Å"A healthy mind, means a healthy body. † Optimists are better able to handle difficult situations with the ups and downs of daily living. Optimists tend to be more creative and harder workers. They are not afraid of there pasts or their futures. They understand that not everything can be changed, they accept that and move on. Optimism is the key to happiness. It helps us appreciate everything we have in life. It is within appreciation that we find happiness. Optimism is full of positive possibilities. It leads a person to happiness by reducing stress and pulling people towards a more positive future. Helen Keller wrote an essay on Optimism in 1903. She wrote, â€Å"Optimism is the faith that leads to achievement. No pessimist ever discovered the secret of the stars, or sailed to an uncharted land, or opened a new doorway to the human spirt. † This is a true statement because having faith in ones self will encourage that person to set new goals in their lives and better yet help them have the will power to achieve them. It is with a pessimistic attitude that people give up too quickly on their goals or possibly never even set them to begin with. With optimism comes hope, perseverance, and self confidence. It is with hope that one strives for a better tomorrow. It is perseverance that wills a person to keep trying. Confidence gives people the ability to believe that everything will turn out all right. All of these things portray optimism. Making yourself happy by seeing the better side of situations in life will lead to success. Optimism in everything they do will bring out the best qualities and skills in a person, and this will lead to true happiness. How to cite The Key to Happiness, Essay examples

Importance of Financial Ratio Analysis to an Investor - Examples

Question: Discuss about The Importance of Financial Ratio Analysis to an Investor. Answer: Introduction Ratios are the basis in which all businesses in the world can be evaluated. The story provided by the financial ratios is derived from the financial statements which are of three general types; the income statement, cash flow statement, and the balance sheet. This provides information that helps in determining the weaknesses, strengths and the forecasting of the future performance of any business. Also, the historical performance of a firm is derived. Financial statements of any business that is listed on the US stock exchange are available online. This report will begin by choosing two companies from the three suggested. After making the choice, the past financial statement will be accessed from the internet. The suggested analysis is suggested to be for three past years. Hence, only financial statements for these years will be downloaded. These are the statements that will provide the figures that will be used in the calculations of various ratios. The financial ratios are used in ratio analysis (Denny, 2003). Formulas for calculating the ratios will be provided. After the calculation of the ratios, interpretations based on the UK standard will be done. The calculation is just the first step and therefore without the interpretation and comparison, the analysis will not be complete. It is from the interpretations that the comparison between the two companies will be made. Different accounting standards fix certain levels of ratio results. The report will seek to establish the desirable level of every ratio calculated. They are fixed in a way that every result above the fixed level is desirable, and any result below that level is undesirable. Conclusions concerning the ratios will be made and the best company will be noted. Suggestions as to why one of the companies is better than the other will be provided along with the interpretations. The importance of ratio is evident in ratio analysis, but there are demerits which limit their effectiveness. These demerits will be drawn. Recommendations will be provided at the end of the report. According to Oshoke Sumaina (2015), Financial ratios are designed to help evaluate financial statements. The evaluation is for performance measurement for comparisons (benchmarking) with other firms in the industry or period of performance of a firm. There are various categories of ratios which are used to evaluate the performance of a firm. The Chosen Companies and their Backgrounds The two companies that will be compared in this report are BT Group Plc and BskyB Plc. The two companies are leading communication companies in the UK. This is, therefore, a comparison of businesses from the same industry (same line of business). BT is the oldest communication company in the world. It is well established worldwide serving over 170 countries. The BT Group Plc was formed to be a holding company for the initially existing company British Telecommunications plc formed in 1984. Its formation was in 2001. BSkyBs growth to become a larger entertainment formats provider was accelerated by the investment in the newly introduced technology. The lack of technology is what facilitated its formation when two companies made losses and decided to merge (the British Satellite Broadcasting and Sky Television Plc). This was back in 1990 (Referenceforbusiness.com, 2016). Profitability Ratios Denny (2003) noted that the main aim of profitability ratios is to determine whether the business is using its resources effectively. The primary role of profitability analysis according to Koen and Oberholster (1999) is to determine the profitability level, factors limiting profitability, factors contributing to a change in profitability and using the identified solution to eliminate deficiencies. There are however other objectives of this analysis. This ratio is also related to the operation efficiency (Robinson et al., 2015). The more efficient, the higher the profitability. Interpretation of Profitability Ratios For every profitability ratio obtained from the calculations, a greater profitability is represented by the highest ratio. The ratios calculated to gauge the business profitability includes. ROCE = [PBIT / (Non-Current Liabilities + Equity)] * 100 Operation Profit Margin= [PBIT/Sales] * 100 Net Profit Margin= [Net Profit/Sales] * 100 ROCE BT Group Plc BSkyB Group Plc 2013 2014 2015 2013 2014 2015 PBIT 3338 3145 3480 1291 1161 972 NCL 17537 17803 18675 3016 2858 7930 Equity -262 -592 808 1012 1072 3165 ROCE 19.32 18.27 17.86 32.05 29.54 8.76 The profit, in this case, is expressed as a percentage and in relation to the employed capital. It is therefore used in measuring the firm size. This ratio should be as high as possible. A lower ratio indicates low profitability, a negative ratio represents losses, but a high ratio indicates huge profits. Firms in the UK operates in different sectors, and the range of ROCEs falls between 5 % and 15 % (The Student Room, 2016). The BSkyB Group Plc is better off than the BT Group Plc in the year 2013 and 2014. The ROCEs for both are indicating a falling trend as shown in the graph below; Fig 1.1: ROCE However, the falling trend is worse for the BSkyB Group Plc. This make BT be better off in 2015. Operation Profit Margin BT Group Plc BskyB Group Plc 2013 2014 2015 2013 2014 2015 PBIT 3338 3145 3480 1291 1161 972 Sales 18253 18287 17979 7235 7632 9989 OPM 18.29 17.20 19.36 17.84 15.21 9.73 The OPM for both groups fell in the year 2014. That for BT group later rose in 2015, but that for BSkyB Group continued falling. This made BT Group best for the investors than the BSkyB. The trend for the changes in OPM is shown in the graph below; Fig 1.2: OPM Net Profit Margin BT Group Plc BskyB Group Plc 2013 20144 2015 2013 2014 2015 NP 2088 2018 2135 979 865 1952 Sales 18253 18287 17979 7235 7632 9989 NPM 11.44 11.04 11.87 13.53 11.33 19.54 Under this ratio, net profit is compared to the sales revenue. It is expressed as a percentage and shows the amount of net profits resulting from sales. BSkyB group has a higher NPM and, therefore, it is considered more profitable than BT group. Their NPM fell in 2014 but later in 2015 there was an increase, however, the increase for BSkyB group was very high. The fall in the net profit margin could be caused by operating strategies of a firm, external factors such as rapid completion which pushes the price down or some major factors beyond the control of the firm (or rather the whole industry since both experienced the reduction in 2014). The trend for the changes in the NPM for the two businesses is shown in the graph below; Fig 1.3: NPM Liquidity and Efficiency Ratios A liquid asset is one trading in an active market and hence can be quickly converted into cash at the ongoing market price (Mayes and Shank, 2007). The firms liquidity ratio deals with the question if the firm is able to pay off its current debt given its current asset. Cash budgets are used in carrying out a full liquidity analysis, but by relating to the amount of cash and other current assets to the current obligations. It is easy to determine if the firm is liquid enough to pay the current obligation. The two liquidity ratios normally used are; Current Ratio= Current Assets/Current Liabilities Quick Ratio= (Current Assets Inventory)/ Current Liabilities The Fixed Assets Turnover calculated as (Turnover/ Non-Current Assets) is a measure of efficiency. Current Ratio It includes cash marketable securities account receivables (debtors) and inventories (stock). Current liabilities include account payables short term loans (overdrafts) accrued taxes and other accrued expenses. A ratio of two and above is preferable however over the period, if the trend is going down then it means that the company is getting into financial difficulties. A ratio of two according to Hendy (2011) indicate that the current assets are enough to pay any current liability that becomes due. BT Group Plc BSkyB Group Plc 2013 2014 2015 2013 2014 2015 CA 4621 5706 7471 2569 2573 4559 CL 7551 7687 7708 2317 2519 4204 CURRENT 0.61 0.74 0.97 1.11 1.02 1.08 Both companies have a current ratio that is below the preferable level. BSkyB group has a higher current ratio as compared to BT group. However, the trend for BT group is rising while that of BSkyB is falling. This means that it was facing some financial difficulties in 2014. This make BT more preferred as the prospective, current ratio is expected to rise. The trend for the changes in current ratio for both companies is as shown below; Fig 1.4: Current Ratio Quick or Acid Test Ratio Inventories are typically the least liquid of the firms current assets. Hence, they are the current assets on which losses of the firm are most likely to occur. This ratio gives the measure of firms ability to pay off short-term obligations without relying on the sale of inventories. High levels of liquidity are represented by a ratio of one (nibusinessinfo.co.uk, 2016). A solid financial health is the interpretation of such an indicator. BT Group Plc BSkyB Group Plc 2013 2014 2015 2013 2014 2015 CA 4621 5706 7471 2569 2573 4559 Inventory 103 82 94 548 546 847 CL 7551 7687 7708 2317 2519 4204 QUICK 0.60 0.73 0.96 0.87 0.80 0.88 Both Groups have a ratio of less than one, therefore making them be determined as having a weak financial health. The quick ratio for BT group is portraying a constant rising trend while the trend for BSkyB Group is rising but not constant. The fact that its not constant creates some possibility of falling and, therefore, investors will prefer BT to BSkyB group. Furthermore, the ratio of BT is almost hitting the required level of 1:1 according to the (Accaglobal.com, 2016). The trend of the change in the quick ratio for both companies is as shown in the following graph. Fig 1.5: Quick Ratio Fixed Asset Turnover This ratio measures the degree in which a fixed asset is used in the generation of sales. The more the number of times the better. This relation can be raised by delaying the duration of replacement of the fixed long-term assets (Mayes and Shank, 2007). Holding all other factors constant, the net fixed asset of a firm will reduce as the accumulated depreciation increases. BT Group Plc BSkyB Group Plc 2013 2014 2015 2013 2014 2015 Sales 18253 18287 17979 7235 7632 9989 NCA 20205 19192 19483 3776 3876 10799 FAT 0.90 0.95 0.92 1.92 1.97 0.92 BT Group has a constant FAT trend while BSkyB has a falling trend. The trend is as shown in the following graph. In 2013 and 2014, an investor would be attracted to investing in BSkyB Group but in 2015 would be indifferent. Based on this ratio, BSkyB is better. Fig 1.6: Fixed Asset Turnover Demerits of Using Ratios Asset valuation is carried out in different methods by various organizations. There are three methods for this valuation, they are; first in first out (FIFO), Last in last out (LIFO) and the average cost method. The value of the closing stock provided by these three methods is different. Therefore, comparison of the performance of companies on this basis can, therefore, result in some misleading information. Ratio analysis cannot be used in companies of the same industry or different industries because the complete picture of the companies is never indicated by a set of accounts. However, given the international financial standards of reporting, then a comparison of the ratios of the firm can be compared with other industries. Ratio analysis can be affected by seasonal factors because their computation is based on the final figure only ignoring the seasonal fluctuations which arise from sales and other operations. Ratios differ across countries, and therefore, they cannot be used between countries. Countries have different standards, and therefore, ratios are defined differently. Conclusion When the results of the ratio analysis are below the fixed level for desirability, it is an indicator that the company is performing poorly. Some companies may be having ratios that are above the desirable level but still be different in desirability. This depends on the magnitude in which they exceed the fixed level ( for instance if the fixed level for a certain ratio is 2, then if an analysis for company A and B gives a result for the same ratio as 2.4 and 2.9 respectively, then B is better than A). Calculation of ratios for a single period may be of less importance to the business. It is only useful when compared to that of other companies and when compared with that of the same ratio calculated for the past periods. An increase in the ratio is an indicator that the business performance is improving. Historical data is used in the ratio analysis. Based on the profitability ratios analyzed, the BT Group Plc proofs to be more profitable than the BSkyB group Plc. When accounting for liquidity ratios, both the current and the quick ratios are analyzed. However, the best analysis should be based on the quick ratio as it considers the fact that the current asset may be in excess of stock, and, therefore, it eliminates stock in its calculation. Recommendations Ratios below the fixed level mean that the company has to focus on improving its performance by implements certain courses of actions. Poor performance cannot be used to predict a healthy growth in the future. So, whenever one wants to determine whether the growth of the company is taking the right direction, desirable level of ratios will serve this purpose. There is a possibility that current asset may include a large proportion of stock, this may provide a misleading analysis if the current ratio is used. I would, therefore, recommend the use of quick ratio to avoid such an incidence. The ratios used in the formulation of this report are just some of the mostly used ratios. There are however other ratios that require to be analyzed as different ratios have different meanings. In doing the ratio analysis, I would recommend that it be done on only companies that are of the same size as this would provide a more accurate comparison. Large companies have advantages over smaller companies making the ratio analysis between then to be unreliable. The management should consider all the rations before making any internal decision. They will help in making proper decisions that will contribute to a desirable business growth in the future. It will help in maintaining the financial health of a firm and also its profitability. Bibliography Accaglobal.com. (2016). Ratio analysis | ACCA Qualification | Students | ACCA Global. [Online] Available at: https://www.accaglobal.com/an/en/student/exam-support-resources/fundamentals-exams-study-resources/f2/technical-articles/ratio-analysis.html [Accessed 23 Mar. 2016]. Anon, (2016). [Online] Available at: https://www.btplc.com/Sharesandperformance/Annualreportandreview/pdf/2014_BT_Annual_Report.pdf [Accessed 20 Mar. 2016]. Anon, (2016). [Online] Available at: https://corporate.sky.com/documents/publications-and-reports/2013/annual-report-2013.pdf [Accessed 20 Mar. 2016]. Anon, (2016). [Online] Available at: https://corporate.sky.com/investors/annual-report-2014 [Accessed 20 Mar. 2016]. Anon, (2016). [Online] Available at: https://corporate.sky.com/investors/annual-report-2015 [Accessed 20 Mar. 2016]. Anon, (2016). [Online] Available at: https://www.btplc.com/Sharesandperformance/Annualreportandreview/pdf/2013_BT_Annual_Report_smart.pdf [Accessed 20 Mar. 2016]. Btplc.com. (2016). Annual reports 2015. [Online] Available at: https://www.btplc.com/Sharesandperformance/Annualreportandreview/ [Accessed 20 Mar. 2016]. Crozierjones.co.uk. (2016). Common accounting ratios for measuring Business Performance. [Online] Available at: https://www.crozierjones.co.uk/WebPage/eQEAAA/Common-accounting-ratios-for-measuring-Business-Performance.aspx?GS=4PT=2 [Accessed 23 Mar. 2016]. Denny, R. (2003). Accounts for solicitors. London, U.K.: Cavendish Pub. Hendy, P. (2011). Key accounting ratios for measuring business performance. [Online] PAH Accountants. Available at: https://wiltshireaccountants.co.uk/accounting-ratios-measuring-a-business/ [Accessed 23 Mar. 2016]. Koen, M. and Oberholster, J. (1999). Analysis and interpretation of financial statements. Kenwyn: Juta. Mayes, T. and Shank, T. (2007). Financial analysis with Microsoft Excel. Mason, OH: Thomson/South Western. nibusinessinfo.co.uk. (2016). Use accounting ratios to assess business performance. [Online] Available at: https://www.nibusinessinfo.co.uk/content/use-accounting-ratios-assess-business-performance [Accessed 23 Mar. 2016]. Oshoke, A., and Sumaina, J. (2015). Performance Evaluation through Ratio Analysis. Journal of Accounting and Finance Management, Vol. 1 No. 3. Retrieved from https://www.iiardonline.org/journals/jafm/PERFORMANCE%20EVALUATION.pdf Referenceforbusiness.com. (2016). British Sky Broadcasting Group Plc - Company Profile, Information, Business Description, History, Background Information on British Sky Broadcasting Group Plc. [online] Available at: https://www.referenceforbusiness.com/history2/88/British-Sky-Broadcasting-Group-Plc.html [Accessed 23 Mar. 2016]. Robinson, T., Henry, E., Pirie, W. and Broihahn, M. (2015). International financial statement analysis. The Student Room. (2016). Revision: A Level Accounts Module 4 - Ratio Analysis - The Student Room. [Online] Available at: https://www.thestudentroom.co.uk/wiki/Revision:A_Level_Accounts_Module_4_-_Ratio_Analysis#Return_on_capital_employed [Accessed 23 Mar. 2016].

Just in Time, Toyota Production Systems and Lean Operations

The Just in Time (JIT), Toyota Productions System (TPS) and lean operations are some of the production systems used by different companies to improve operations and eliminate wastes.Advertising We will write a custom case study sample on Just in Time, Toyota Production Systems and Lean Operations specifically for you for only $16.05 $11/page Learn More Main Purpose of JIT, TPS and LEAN Operations Operations and production improvements are mainly carried out to eliminate wastes, remove variability and improve throughput. Eliminate wastes: Most of the production systems focus on waste reduction. The main types of wastes that should be reduced include overproduction, transportation, Queues, inventory, movement of people, over processing and production of defective products. Variability: variability refers to the deviation from the normal process. This results to production of products within the set limits. The main sources of variability include poor produ ction process, inaccurate and incomplete drawings and not understanding the customers demand. Throughput: this is the total time required to complete the production process. It is the time required to change raw materials to complete products. Just in Time Method The just in time principle entails the continuous improvement of the production process. JIT focus on reducing inventory and throughput. It is widely used to improve operations. The materials arrive where they are needed and when they are needed. This drives out wastes and delays, reduces variability, improves throughput and reduces cost associated with excess inventory. JIT aims at minimizing the distance between long production lines, improving employee communication, increasing flexibility and reducing space and inventory. JIT is also used to improve quality through the use of statistical process control, empowering employees, use of failsafe methods and providing immediate customer feedback.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Toyota Production System (TPS) This Toyota production system emphasizes on continuous improvement, respect for people and the use of standard work practices. Continuous improvement entails building an organizational culture and a value system that stresses the need for process improvement. Respect for people involves empowering employees and training them so as to make improvements. The use of standard work practices involves defining the works completely in terms of content, sequence, timing and outcome. Lean Operations Lean production focuses on the customer. The customer’s wants are indentified and used to improve the production process. The main lean production techniques include; The use of JIT to eliminate inventory Employee training Space reduction Educating suppliers and forming partnership with them Eliminating services that don’t add value Mutual Insurance Company of Iowa The main attributes that the claims processing department will have include There will be no unprocessed claims as claims arrive and they are immediately processed Improved communication Use of computers to process claims Reduction of distance and processes that the claims have to go through Reduction of unnecessary employees Reduction of activities that don’t add value The restructured cell layout for claim processing Figure 1: claims processing department layout Assumptions about personnel and equipment The workers have been trained on new data entry techniques There will be new computers and equipments to help process the claims fast Benefits of JIT to IOWA Company Reduce the time taken to process claims Ensure customers are satisfied with the company Reduce the number of legal suits the company faces Reduce the number of redundant employees Increase profits Reduce cost associated with handling unprocessed claims This case study on Just in Time, Toyota Production Systems and Lean Operations was written and submitted by user Hawkeye/Clint Barton 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.

Implication of Increasing Premium Rates Essays

Implication of Increasing Premium Rates Essays Implication of Increasing Premium Rates Paper Implication of Increasing Premium Rates Paper Medical malpractice insurance should be a necessity for all healthcare providers such as physicians, medical assistants, nurses, and other medical staffs. This will enable them to be protected from liabilities and lawsuits from considered â€Å"negligent acts† such as mistakes, accidents, and oversights that may cause injuries or harm to the patients. These mistakes are unpredictable despite the skills the medical practitioners have (Rodgers). Medical malpractice may either be failure to diagnose, misdiagnosis, improper treatment or delay in treatment. There are many cases of malpractice such as wrong kidney operation, wrong treatment for flu, or wrong eye operation. Claims other than this have been increasing over the past years. Physicians are able to escape such liabilities through medical malpractice insurance. However, premium rates in medical malpractice insurance have been increasing over the past years. In 2003, the General Accounting Office of the United States released a report on medical malpractice insurance and the factors that have contributed to the increase of premium rates. The study was conducted in order to analyze the problem of physicians regarding the increases of premium rates. Physicians were agonizing that they can no longer afford the malpractice insurance and they would be limiting their services, as a result. On the other hand, some insurers stopped selling malpractice insurance because of little profitability (Medical Malpractice Insurance 2003). GAO found out several factors that contributed to the increase of premium rates such as falling investment income and rising reinsurance costs resulting to the increase of total expenses that other premium covers (Medical Malpractice Insurance 2003). The increasing trend in the premium rates of malpractice insurance began in the mid-1970s until the 1980s because of the many claims causing some insurers to stop in coverage. Also, physician-owned insurance companies replaced other liability carriers whose aim was to earn more profit. The trend severed in the 1980s when premium increased much more. In order to regulate the increasing trend, states passed laws to decrease premium rates (Thorpe, 2004). By the 1990s, increases in premium rates continued in several states such as Pennsylvania. The crisis in the increasing premium rates trend caused some large insurers to close down such as the St. Paul Companies. Additionally, processing claims by patients may take more than two years thus making it hard for insurers to set premiums (Mello, 2006). Physicians in West Virginia rallied against the high premiums which slowed down the New Jersey and caused closing of heath services temporarily. There were also follow up rallies in Connecticut and other states (Thorpe, 2004). Obstetricians, gynecologist and neurosurgeons are greatly affected by the high premium rates causing some practitioners to stop providing healthcare services. Martha Drohobyczer, a nurse midwife, for example, was not able to deliver the baby of her three-year long patient who was about to give birth to her first baby. Drohobyczer cannot afford the newly increased malpractice insurance costing $50,000 a year. Therefore, she would not be able to provide the services that her patients needed (Babula, 2002). In 2003, the physician-owned Medical Insurance Exchange of California (MIEC) ended coverage in Nevada. MIEC has been providing insurance fro physicians in Nevada for 25 years. This move by the MIEC was feared to lead the trend of insurance companies closing down (Babula, 2003). Last March 2007, the Americans for Insurance Reform released a report about the stable losses or the unstable rates of medical malpractice insurance. By 2005, physicians paid $13,000 premium with $5,400 direct losses paid. This means that doctors paid $5,400 annually to people who claimed to be injured plus the amount the insurance companies paid for lawyers (Medical Malpractice Inusrance: Stable Losses/Unstable Rates 2007, 2007). References Babula, J. (2002). Medical Malpractice Crisis: Insurance costs driving doctors away. Retrieved October 19, 2007 from reviewjournal. com/lvrj_home/2002/Jan-23-Wed-2002/news/17929548. html Babula, J. (2003). Another insurance firm set to leave. Las Vegas Review-Journal. Retrieved October 19, 2007 from reviewjournal. com/lvrj_home/2003/Jul-31-Thu 2003/news/21845688. html Medical Malpractice Insurance: Multiple Factors Have Contributed to Increased Premium Rates. (2003). ): United States General Accounting Office. Retrieved October 19, 2007 from gao. gov/new. items/d03702. pdf Medical Malpractice Inusrance: Stable Losses/Unstable Rates 2007. (2007). ): American for Insurance Reform. Retrieved October 19, 2007 from insurance reform. org/StableLosses2007. pdf Mello, M. M. (2006). Understanding Medical Malpractice Insurance: A Primer. Robertwood Johnson Foundation, 1-20. Retrieved October 19, 2007 from rwjf. org/pr/synthesis/reports_and_briefs/pdf/no8_primer. pdf Rodgers, D. Importance of Professional Liability and Malpractice Insurance. Retrieved October 19, 2007, from http://profiles. friendster. com/user. php Thorpe, K. E. (2004). The Medical Malpractice ‘Crisis’: Recent Trends And The Impact Of State Tort Reforms. Health Affairs. Retrieved October 19, 2007 from http://content. healthaffairs. org/cgi/content/full/hlthaff. w4. 20v1/DC1

6 University Jobs That Will Boost Your Resume

6 University Jobs That Will Boost Your Resume 6 University Jobs That Will Boost Your Resume There is a bit of a misconception that university jobs are only available for students who gain employment through work study, or graduate students who become TAs. In reality, there are a variety of on campus jobs available to anybody who chooses to apply, that can be a great addition to a student’s resume. If you want to   get an on campus job that earns you serious job consideration down the road, take a look at the following positions. 1.  College Radio Station Personality If your college campus is home to a radio station, you have probably enjoyed listening to that radio station, or maybe attending some of the concerts your college radio station has promoted. Maybe you have even fantasized about going on air or being behind the scenes. Here is some good news. You can do these things, even if you aren’t a part of the Mass Comm or radio broadcasting school. If you have an idea for a radio, or some extra time, let that be known. You might just get hooked up with a show of your own. Your college radio station might have jobs in production, advertising and more. You don’t need to be a part of the broadcasting or Mass Comm program either. 2.  College Newspaper Journalist Most colleges have at least one student run newspaper, if not more. What you may not know is that they are frequently hiring people to work as journalists, columnists, assistant editors and more. If you enjoy writing, and have an interest in sports, entertainment, campus life, or news and politics, consider putting in an application. You’ll meet some great people and earn money doing something you enjoy. 3. Resident Assistant This may not seem like a fun job at first. After all, who wants to be the person in the dorm rooms that breaks up loud parties and enforces other rules? However, if you have the ability to get along with others and be a bit of a diplomat, RA is not a bad position to hold. You’ll save money on your own tuition and fees, and you will pick up people skills that will serve you very well in the future. 4.  Financial Aid Clerk There are frequently many jobs available in the financial aid office. Student workers are needed for data entry, assisting people with applications, manning phones, and dealing with paperwork. If you have aspirations of working in the finance industry, customer service, or in any business setting, this job might be perfect for you. You will also develop specialized computer skills that may make you more appealing than job applicants who are not experienced with office applications. 5.  Dining Hall Employee This is hard, busy, fast paced work that isn’t suited for people who aren’t used to being active and on their feet for long periods of time. However, if you have the stamina for it, this is a great job to have. First, you’ll almost certainly eat for free, whether that’s an official or unofficial benefit. You will also learn culinary skills, customer service skills, cash handling, and to deal with purchasing, receivables, and inventory. All of these are great practical skills to have when you are trying to land that first entry level job post graduation. 6.  Maintenance Assistant If you are an engineering student or in any other field that will involve mechanics, construction, or electricity, consider putting in an application with your school’s maintenance department. They often hire student workers to assist with repairs around the college campus. In any given day, you might paint, help troubleshoot and solve electrical problems, and assist with HVAC repairs. The result of all of this is that you will have a few impressive technical skills to add to your resume. If you are not sure where to begin, ask your advisor. He or she will be able to tell you who to speak with about on campus jobs. If you qualify for work study, your financial aid office will be able to help you find the best on campus job for you.

Philosophy Essay Example | Topics and Well Written Essays - 2500 words - 6

Philosophy - Essay Example e worry that this world might too be a dream was famously expressed by the French philosopher Rene Descartes in the seventeenth century in his Meditations. In fact, he specifically sought to doubt whatever could be doubted in order to lay the foundations for true knowledge through reasoning. After pointing out what happens during sleep, he makes his ‘dreaming argument’ when he writes, â€Å"In dwelling carefully on this reflection, I see so manifestly that there are no certain indications by which we may clearly distinguish wakefulness from sleep that I am lost in astonishment. And my astonishment is such that it is almost capable of persuading me that I now dream† (Descartes, 2009: 12). Put simply, the reasoning of his argument is that perceptions during both states are similar, and given that there are no ways to distinguish between them, therefore this raises the possibility that even during ‘waking’ one may be dreaming such that the perceptions du ring ‘waking’ may turn out to be ‘false’ as in dreams. An outline of this argument is presented below. Thus, Descartes doubts both; being presently awake and being ever awake. He refers to the particulars (i.e. what we do) during sleep as false delusions, and the things represented to us in dreams, as â€Å"painted representations which can only have been formed as the counterparts of something real and true †¦Ã¢â‚¬  (ibid). Incidentally, this shows that the non-dream world does have a greater originality than the dream world because what is painted in dreams is not created ex nihilo, but he continues to suggest that all the thoughts he has â€Å"are no more true than the phantasies† of his dreams (ibid: 49). Furthermore, Descartes’ obsessively skeptical approach is rather dubious because in places, it does not make sense, and some of his ideas like the demon are hypothetical. Moreover, it is ironic that after much doubting and casting aside the trustworthiness of the senses, he never once doubts his own

Business Communication Essay Example | Topics and Well Written Essays - 500 words - 4

Business Communication - Essay Example In addition, it compromises the privacy of vital personal digital footprints. Use of social media communication has adverse effects on various careers and development of professionals globally. This platform encourages a lazy culture in workplaces. Many professionals are no longer innovative and creative as before the introduction of social media. According to Kincel et al., this platform simply allows people to question other for ideas at their comfort without trying to research or engage their minds to come up with alternatives. Consequently, this form of communication has reduced innovation around the world. Currently, professional are using readily available resources online to solve various problems in their workplace. As a result, professional are deprived an opportunity to be innovative and creative thinkers that lead to career development. Moreover, use of social media leads to cyberbullying especially of children by various strangers on the internet (Kincel et al.). Family members especially children are vulnerable and are the primary target for cyber bullies. Anonymous individuals disguise and manipulate or abuse young kids through the internet. As a result, these attacks are always devastating to the victims. They lead to depression and fear among young family members. Thus, victims of the cyber bullying resort to suicide to ease their pain. In addition, some prefer to suffer silently which leads to mental disorder. In order to prevent and eliminate such cases, family members are supposed to be discouraged from the excessive use of social media. Besides, these forms of communication also have adverse effects on personal digital footprints. Uploading of personal digital footprints into the social media platform can be detrimental to the owner. The various sites such as Facebook insists on retaining the copyright of anything uploaded to their site. This results in losing ownership of

Marriage at an Early Age Essay Example for Free

Marriage at an Early Age Essay Marriage is regarded as a moment of celebration and a milestone in adult life. The age at first marriage varies across the globe. Being married before the age of 18 has been a social norm in third world countries [refer to Appendix A]. The percentage of women being married before age 18 is estimated to be 20 to 50 percent in average in developing countries (Joyce, et al. , 2001). On the other hand, western countries are unlikely to experience the similar pattern of marriage. The marital union is normally delayed too long although this is the most apparent reason for the breakdown in sexual ethics (Orsi, 2001). Because of its wealth, western society chooses to marry later in life until they have built an adequate maturity in age, education and financial state. Nowadays, many international organizations have made an effort to reduce the number of early marriage worldwide (Yudkin and Robert, 1996). Many believe that the practice of early marriage can hinder self-development of young girls. However, in western countries, there are several efforts to promote young marriages (Orsi, 2001). They believe that early marriage should be looked as a platform to cultivate maturity together but not as an institution just for the grown-up individuals. As we are concern, early marriage is widely practice in developing countries hence a global issue has arisen as to whether early marriage does really hinder self development due to the consequences it brings to young girls. The practice is believed to bring several benefits to some extent. However, the adverse effects it brings can impede the self-development of young adolescences in many aspects including health consequences, character building and education as well as career opportunities. 2. 0Statistical Studies of Early Marriage This aspect highlights the prevalence of early marriage across the globe and the very reasons of early marriage especially in developing countries. This aspect is important to illustrate the situation regarding early marriage worldwide. 2. 1Prevalence of Young Marriage The practice of young marriage is most common in developing countries (United Nation Children’s Fund (UNICEF), 2001). According to Joyce (2001), an analysis of Demographic and Healthy Survey data shows that Latin America, Sub-Saharan Africa and Southeast Asian countries are having the most cases of early marriage. Of these countries that have high cases of young marriage, Niger is the leading country with 88 percent of the women married before age 18. Adapted From: Joyce, L. F. , et al. (2001). Future Options Foreclosed: Girls Who Marry Early. Reproductive Health and Rights. 139-143. Retrieved January 25, 2006, from the World Wide Web: http://www. path. org/files/RHR-Article-14. pdf. 2. 2Major Factors That Lead to Early Marriage The huge number of young marriage in developing countries is due to several reasons. Poverty is one of the major factors underpinning early marriage (Joyce, 2001). A young girl may be regarded as an economic burden for a family thus early marriage is looked as a strategy for economic survival. A current study of five very poor villages in Egypt shows that young girls are being married off to much older men from oil-rich Middle Eastern countries for family survival (UNICEF, 2001). Besides, early marriage is one way to ensure that a girl is protected from physical disturbance (UNICEF, 2001). Parents believe that their daughters are safer when they marry early as there is always a man to guard them. For instance, some families in Northern Uganda encourage the young girls to marry to militia members in order to secure protection (UNICEF, 2001). For third world countries, marriage shortly after puberty is common among those living traditional lifestyles (Joyce, 2001). The girls as early as 14 years old have to carry responsibilities as a wife. As it has become a social custom, the tradition is carried on from one generation to the next. 3. 0Opponents’ Views Against Early Marriage This aspect discusses some of the opponents’ views against early marriage. It mostly talks about the disadvantages of early marriage to the girls including the lack of education, health problems and psychosocial disadvantages. The arguments given agree that early marriage does hamper self-development. 3. 1 The Denial of Education The opponents believed that early marriage denies the right of young adolescents to the education they necessitate for self-development. In traditional societies, the investment in a girl’s education is thought to be wasted as the girl is going to marry and stay at home doing household chores (UNICEF, 2001). For instance, in Northern Nigeria, early marriage is the very reason girls are often withdrawing from school (UNICEF, 2001). Because of the early end of female education, they have limited opportunities to develop skills and acquire knowledge ‘that serve them well throughout their lives’ hence restricts their economic and career opportunities (Joyce, 2001). This is because withdrawal from school that results in illiterate and unskilled women will lead to no recognition in professional field. 3. 2 Health and Reproduction Problem The opponents also argued that early childbearing which always occurs in early marriage endanger the lives of both the mother and her baby (Joyce, 2001). The early pregnancy increases the risk of complications and dying during delivery. A report shows that the risk of death due to pregnancy-related cases is doubled among women aged 15 to 19 compared to adult women (Adhikari, 2006). They further stressed that these girls are also more susceptible to sexually-transmitted diseases (UNICEF, 2001). Hormonal fluctuations and permeability of vaginal tissues experienced by these girls can lead to infertility. Moreover, according to a study in Rwanda, 25 percent of women who were pregnant before 18 were infected with HIV although they only had sex with their husbands (UNICEF, 2001). 3. 3Psychosocial Disadvantages When early marriage takes place, the girls will confront with great emotional damage. Sociologists suggested that this is due to their confinement at home to do household chores hence their mobility is denied (UNICEF, 2001). Most of the girls are depressed with this situation that eventually affects their emotional well being. An Indian research conducted in Rajasthan and Madhya Pradesh found that the spouses of early marriage usually suffered from great psychosocial damage (UNICEF, 2001). Another concern raised by the opponents is that the young girl loses her social life outside family cycle and this has affected her chance of cultivating her own identity (UNICEF, 2001). The most important implication of this is that her self-esteem is silently hindered from being developed and this will make her vulnerable to sexual and physical violence. In Eastern Africa for instance, a young wife has no right to refuse sex to her husband even though her partner is suspected with HIV (UNICEF, 2001). 4. 0 Proponents’ Views on Early Marriage This part will enlighten several views that support early marriage in our society. This includes health benefits, social stability and character advantages. In this argument, early marriage is looked upon as a better practice than delayed marriage. 4. 1 Health Benefits The proponents believed that body functions are more effective and healthy at early stage in life. For women, the body is particularly geared towards reproduction during early adulthood (Orsi, 2001). Early marriage is beneficial because desire and energy from young couples also produce healthy offsprings. They also highlighted that later marriage has led to problematic births and birth defects. This can happen as the body is unlikely to negotiate any burden like pregnancy at a late age. Not surprisingly, later marriage which is always associated with cohabitation and premarital sex increase the risk of sexually-transmitted diseases (Orsi, 2001). The hazardous infections like HIV will spread widely if the practice of premarital sex has became a lifestyle. 4. 2 Early Marriage as a Solution to Cohabitation Another issue raised by the proponents is that the trend towards later marriage has led to a great social deterioration in the society in term of cohabitation. In the United States of America, cohabitation is more prevalent than other countries as the people choose to marry later in life (Henslin, 2005). A study found that cohabitation before marriage is the very reason for breaking up after they were married (Henslin, 2005). Besides that, the increasing case of cohabitation in the United States of America is clearly illustrated by the graph on the next page. Adapted From: Henslin, J. M. (2005). Cohabitation. Sociology- A Down to Earth Approach (2nd Ed. ). 468. Boston: Pearson, Allyn Bacon. They further argued that married couples including young spouses gain more benefits in terms of physical health, general happiness and longevity than cohabitants. This is proven from a study which was cited as strong evidence that cohabiting couples experienced the rate of depression three times more than married couple (Popenoe and Dafoe, 2006). . 3 Self-development Improvement It is also believed that early marriage helps in cultivating maturity. Early marriage is looked upon as a platform for young people to grow in maturity together. Moreover, they share experiences at an early age before egoism is deposited in their heart. This is important to ensure a successful marriage is established (Orsi, 2001). They further emphasized that early marriage is a natural institution to grow emotionally by everyday give and take at an early age. This foundation is hard to build later in life. Also, through The London Telegraph, Emma Besbrode has reported that individuals that are unmarried by early age are more vulnerable to depression and loneliness (Orsi, 2001). This unbalance in emotional development will lead to a stressful life. 5. 0 How Does Early Marriage Hamper Self-development? In this area, both arguments from proponents and opponents are being evaluated in terms of health, character building and education. This is important to determine whether the practice of early marriage does impede self-development. 5. 1 Health Aspect Health is a very important aspect in self-development of an individual. Early marriage greatly affect the health of young adolescents especially girls. Although women who marry later in life are also vulnerable to problematic birth, (Orsi, 2001) the girls who are particularly still growing up have to struggle with the risks associated with early pregnancies (UNICEF, 2001). This is because the physical features of the girls are not fully developed and therefore both the girls and their babies have to compete to obtain the necessary nutrients for themselves. This means that early marriage endangers both mother and her baby. Besides those, sexual intercourse that takes place at a very young age can enhance the risk of sexually-transmitted diseases (STD) (UNICEF, 2001). It is also true that STD can also infect unmarried people as well especially among cohabitants, but a recent study conducted in Rwanda shows that the younger the age at sexual intercourse, the higher the risk of STD (UNICEF, 2001). This proves that early marriage set off a poor cycle of health. 5. 2 Character Building Aspect Each and every individual has his/her own character. The practice of early marriage limits character development as a girl who marries early experiences less socialization outside her family cycle (UNICEF, 2001). This reduces her opportunities for building her own identity which is vital for her successful self-development. On the other hand, some individuals believe that early marriage is a stage for maturity to be acquired and it is not just for matured individuals (Orsi, 2001). However, it is not the case as these girls are affected by great emotional disturbance and depression. Inter-American researchers have discovered that these emotional consequences are ‘unavoidable part of life’ for those who choose to marry early (UNICEF, 2001). Therefore, it is clearly shown that early marriage does hinder personal development. 5. 3 Education and Intellect The importance of well-developed education is vital for an individual to survive. Since early marriage is the major reason for young adolescents to quit from school (Adhikari, 2006), it can restrict career prospects of a girl by limiting her chances to acquire important skills and knowledge. Without those qualities, the girl’s future seems to foreclose to any opportunities for economic survival. In fact, unemployment rates are higher for those who have limited education (Baker and Dryden, 1993). This is clearly illustrated from the table below. Unemployment Rate by Educational Attainment for 15 to 24 year-olds, Canada, 1991 Educational AttainmentUnemployment Rate 0 to 8 years29. 5 Some secondary education20. 7 High school graduation15. 7 Some post-secondary12. 6 Post-secondary certificate11. 7 University degree 8. 1 Total16. 2 Source: Baker, M. and Dryden, J. (1993). Patterns in Employment and Unemployment or Young People. Families in Canadian Society (2nd Ed. ). 93-94. Canada: McGraw-Hill Ryerson Limited. For those reasons, early marriage is proven to bring more harm than benefits. This practice consequently hampers one’s personal development. 6. 0 Conclusion The practice of early marriage in our society today does hinder personal development of individuals in terms of health, character building and intellectual qualities. First, a girl is more vulnerable to diseases and complications when sex intercourse takes place between the spouses occur at an early age. Early pregnancies followed by childbearing can also bring harm to the girl by increasing the risks of dying and problems during delivery. Apart from this, character building which is important to determine one’s unique identity will be affected as well when a girl enters marriage at a young age. The loss of mobility and social life due to the early marriage will result in lack of self esteem and great emotional damage. In addition, limited education is obvious among those who marry early. In the long run, this lack of schooling will restrict economic and career prospect in the future because withdrawal from school means no qualifications and recognition. This will foreclose the future options of one’s self. Therefore, the practice of early marriage is proven to hinder personal development and should be reduced among young adolescents especially in developing countries with high incidence of young marriage. Effective steps should be executed by international organization to reduce the number of this practice worldwide. For instance, each country should rise up the legal age for marriage. Besides that, education should be promoted among young couples so that they acquire adequate level of education for their future. Although it is difficult to reduce the number, by helping the young spouses with their life, it more or less, reduces the burden they carry.

Themes of Love and Revenge in Shakespeares Hamlet Essay -- Shakespear

Themes of Love and Revenge in Shakespeare's Hamlet Love is one of the most powerful themes in Hamlet, but a superior force - REVENGE, drives Hamlet's love. Revenge of his father's murder. Hamlet is confused and melancholic over the fact that his mother married his own uncle and so quickly after his father's death. Even though he does not immediately suspect foul play in his father's untimely death, he is in a state of shock. As Kenneth Muir states, "He (Hamlet) is profoundly shocked by Gertrude's marriage to his uncle in less than two months after her first husband's death, although he has no conscious suspicion that his father has been murdered or that his mother had committed adultery." The ghost scene seems to fuel Hamlet's revenges of his father's murder, but also, as we will discuss later this scene confuses Hamlet. Hamlet's revenge of his father's murder is successful, but very costly. Hamlet pays the ultimate price of his mother's, his sweetheart Ophelia's, his friend's and his own life to accomplish this revenge. Hamlet's revenge for his father's murder begins just after the ghost scene, were Hamlet meets his fathers ghost and is told of the murder. Hamlet's father tell him to revenge his murder "Revenge his foul and most unnatural murder" (I, v, 25). Hamlet's response is to swear "that I, with wings as swift As meditation or the thoughts of love, May sweep to my revenge."(I, v, 29-31). Hamlet is now determined, even inspired to a rapid revenge. Hamlet is confused with his fathers death and is suspicious of foul play, but even after the ghost scene Hamlets seems to be vacillating between actuality (Was his father murder by his uncle?) and manic depression. Hamlet even goes as far as considering suicide. "... ...ve his final revenge. "Hamlet's revenge has led him to wanton and meaningless slaughter. He may have ultimately won the battle within himself, but he dies with the blood of eight men on his hands, five of them innocent victims, helpless bystanders who were pointlessly struck down because they came between two mighty opposites. Hamlet's revenge has led to the destruction of two entire families and to the abandonment of the State to a foreign adventurer." BIBLIOGRAPHY Hoy, C. HAMLET William Shakespeare, New York, 1963 Prosser, E. HAMLET & REVENGE, Stanford, 1971 Wilson, J. What happens in HAMLET, New York, 1964 Muir, K. SHAKESPREARE Hamlet, London, 1983 Cantor, P. Landmarks of World Literature SHAKESPEARE Hamlet, New York, 1989 Farnham, W. HAMLET PRINCE OF DENMARK, New York, 1985 Mercer, P. HAMLET and the Acting of Revenge, London, 1987

Starion Entrepreneurship Case Analysis

M3786 NEW VENTURE PLANNING SAMPLE CASE ANALYSIS REPORT STARION ENTREPRENEURSHIP SAMPLE CASE ANALYSIS REPORT Starion Instruments, headquartered in Sunnyvale, CA is a private company with core IP assets based on the exclusive license of groundbreaking medical research in the field of laser tissue welding. Starion hopes to revolutionize the electrosurgical field with the introduction of products like its cautery forceps used for cutting and sealing (cauterizing) tissue. The overall annual market for these types of medical devices is in excess of $1 billion.Furthermore, Starion’s promising IP and continued research goals will enable it to gain a significant foothold in the worldwide medical technology industry with sales reaching $150 billion annually. The foundation of Starion’s IP lies in the hands of Dr. Michael Treat’s research. In the 1980s Dr. Treat and Dr. Larry Bass, a plastic surgeon resident at Columbia Presbyterian, started experimenting with lasers in sur gery. With a humble beginning the two surgeons worked from Columbia Presbyterian’s 17th floor lab on their innovative research.Together, these two pioneers invented the field of laser tissue welding – using thermal energy to rejoin tissue severed in surgery. However, this technology remained uncommercialized for several years after its initial discovery. Shelly Monfort, a Stanford-trained engineer, began her entrepreneurial career in 1986. With a background in R&D on medical devices as well as start-up experience, commercializing those devices, Ms. Monfort and two engineers, Ken Mollenaur and George Hermann, were involved in the creation, funding, and exit of at least 6 surgical device companies from 1990-1996.Ken Mollenaur maintains experience designing and building medical prototypes. George Hermann possesses extensive experience navigating the medical device approval process; working with the major regulatory bodies in the industries. By June 1988, Ms. Monfort had s igned a license with Columbia; Starion Instruments could now begin building a staff and a product to bring to market. With their exclusive licensing deal in place, Dr. Treat left Columbia for Starion’s California headquarters and began developing the product.In October 1999 Starion instruments, represented by Dr. Treat, made its debut at the American College of Surgeons Conference, the single most important industry event for people who would buy and use the product. At the time, the company’s goal was to raise $750,000 in capital. Ms. Monfort assembled $2 million from private investors along with a pair of venture capital firms. At the time Starion’s valuation was $7 million. This was a crucial point for the company. Success or failure is often based on an initial market foray.The direction chosen by management in this situation had an irrevocable effect on the company’s overall performance. A capital infusion of only $750,000 severely limited the compan y’s marketing and development capabilities and was a gross underestimation of the company’s capital needs; a clear representation of Ms. Monfort’s inexperience. Furthermore, the company’s additional capital requirements were highlighted by the investors’ willingness to infuse a $2,000,000 round when only solicited for $750,000. To Ms. Monfort’s credit it was her colleague and mentor, Dr.Thomas Fogarty, a legend in the surgical world, who insisted on the additional capital. The company planned to go to market with a package consisting of single use disposable forceps and a disposable battery pack. The forceps would carry a price tag of $410 and the battery pack would list for $39. The effort was directed toward an open surgery application. Open surgeries accounted for approximately 80% of procedures performed at the time. Starion planned to eventually expand to laparoscopic devices once it gained additional market share.An important aspect of Starion’s strategy was to market its product as not only a superior tool as far as results, but also to highlight the simplicity and cost effectiveness of its offering. Surgeons, the principal buyer in this space, are known to be fairly innovative, willing to try new things. However, it is only with repeated use that they gain skill with a given device. Therefore, it is critical that they see not only a cost advantage, but a significant increase in product performance in order for considerable adoption to take place.Starion’s choice to focus on the core buyer requirements magnifies their intimate knowledge of the space and contributed greatly to the company’s overall success. The decision was made to concentrate on an open surgery strategy. Early adoption, particularly for a small fish in a big pond, is critical to any start up. This direction, spearheaded by management, was a deft decision for several reasons. The customer base in this field consists of an end user with a complex hierarchy and buyer process. However, it is ultimately the end user’s decision which makes or breaks a product in this ield. Therefore, the decision to launch the product for use in open surgeries as opposed to laparoscopic procedures vastly increased the attractiveness to the early adopter base. The open surgery tool strategy enabled doctors to rely on backwards compatibility (the ability to simply fall back on the tried and true cut and suture method), another key point with â€Å"experimental† tools and methods. Prior to Starion’s laser tissue welding breakthrough, the most common electrosurgical tool was the monopolar device, also known as the Bovie device.With this technology, the patient is wired to a grounding pad that provides a path for the electrical current to flow. The surgeon uses an electrode to pass a high-frequency electrical current through a patient to cut and cauterize tissue in a selected area. The Bovie requires a genera tor that costs between $7,500 and $10,500 a year. In addition, each operation requires disposable (one time use) grounding pads and electrodes, whose combined cost is 5 to 6 dollars per procedure. The disadvantages include (relatively rare) situations in which the device causes burns to the patient at the side of the grounding pad.Additionally, the Bovie’s high energy output can interfere with the ever growing mass of electronic equipment in modern operating rooms. An alternative to the Bovie device is the UltraCision, also known as the harmonic scalpel. This device uses ultrasound to generate the heat needed to cut and seal tissues. Ethicon Endo-Surgery Inc. a Jonson & Johnson subsidiary owns UltraCision. Starion estimates that the ultrasound based product has annual sales of approximately $100 million. Like the Bovie device, the UltraCision system requires a reusable power supply, which costs approximately $15,000.The system also uses an electrical cable that costs $630 and must be replaced after approximately 100 surgeries. In addition, single-use tips that cost approximately $325 are also required. Given the relatively high degree of cost associated with marketing medical technologies, Starion pursued a strategy in which it would segment a large market and avoid going head to head with its competitors. Due to its small size and relative weaknesses, Starion was forced to parse the market even further deciding to promote its technology specifically for use in a single procedure which would greatly reduce the overall cost of their product launch.The variable costs, excluding sales commissions, for both the battery and forceps were projected to equal about 40% of the sales price. Fixed costs, excluding R&D, were expected to total $1. 1 million in the first year of operation and $1. 65 million in the second year. R&D for the first year was projected at $1. 25 million and $1. 45 million for the second year. Given the industry standard, this team had the n ecessary components for a successful start-up. The initial engineering and development of a product like Dr.Treat’s is best done in a small workshop by passionate and dedicated serial entrepreneurs. However, the team’s inability to surrender the reigns of the company inexorably inhibited the firm’s future growth. Conversely, the small, dedicated team was able to react dynamically to the market positioning their product with care in a segment which allowed a gain in market share. This short-term success may well translate to continued development; however, the degree of future shareholder value is limited by an order of magnitude equal to the founder’s shortsightedness.In the medical device field, there are some significant barriers to entry; the combination of patents, expensive/extensive clinical trials and research in conjunction with strict federal government oversight can overwhelm smaller companies, and help protect established players against compet ition. The FDA is the primary regulator of medical devices, and its mandate is to insure that the devices that reach the market are safe and effective. The medical device industry is populated by a small number of major device manufacturers and diversified medical companies in addition to the large number of small companies.Dominant players in the industry include: Johnson & Johnson, Baxter International, Becton Dickinson, Medtronic, Guidant, Boston Scientific, and U. S. Surgical (a unit of Tyco). The combined market capitalization of the industry leaders mentioned is approximately $300 billion with the smallest just over $9 billion (Source: Bloomberg). Medical products and services companies invest around 8% of annual revenues in R&D, this compares to 3 to 4% invested by U. S. manufacturers (Standard & Poors). However, the true path to innovation in this industry is through mergers and acquisitions.Due to overwhelming development and production costs coupled with a large upfront ma rketing outlay, partnership and acquisitions are the industry norm, not the exception. Even well capitalized companies will often choose the route above, rather than face the huge barriers that exist in this market. The Four P’s: Product, Promotion, Protection and Price. Product – Revolutionary technology. Promotion – Combination of in-house and franchised channels. Protection – Strong IP backed not only by the company but by Columbia. Price – 91. 45% savings†¦Speaks for itself.Further data was not supplied however the following is an example of some of the continued financial analysis we would conduct. Financial analysis: Profit ratios: Gross Profit Margin = (Sales revenue – COGS) / Sales Revenue Net Profit Margin = Net Income / Sales Revenue Return on total Assets = Net income available to common stock holders / Total Assets Return on stock holders equity = net income available to common stock holders / stockholders equity Liquidity R atios: Current Ratios = Current Assets / Current liabilities Quick Ratio = (Current assets – Inventory) / Current liabilities Inventory Turnover = COGS / InventoryLeverage Ratios: Debt-to-Assets Ratio = Total Debt / Total Assets Debt-To-Equity Ratio = Total Debt / Total Equity Cash Flow Analysis: Determine appropriate debt levels, payout periods and additional analysis to confirm liquidity. Net Profit Margin = Net Income / Sales Revenue First Year: -4,639,464/4,000,000= -1. 16 Second Year: -689,333/8,000,000 = -. 086 Gross Profit Margin = (Sales revenue – COGS) / Sales Revenue (4,000,000 – 1600000) / 4,000,000 = 0. 6 Pricing strategy: Pricing is currently very aggressive and sales strategy prudent.Initial management was executed properly, however it is likely that changes will need to be made in the near term to achieve significant market share. Partners: Strategic alignments are mainstays in this industry and should be aggressively pursued. Strategic investment ; merger; acquisition. Intellectual Property: IP is an essential aspect of any medical device company given the simplicity of the concept; the device may come up against some protection issues. Early indications seem to support the strength of the company’s IP, however it is certainly a concern which warrants further investigation.Note: Both Starion and Columbia would be behind any major IP issue. Given the state of the industry and the unique positioning of the company’s IP prospects a partnership/acquisition would be our main point of recommendation in the near term. During this transition it may be prudent to rethink the current organizational structure, with a specific focal point on senior management (when moving to a new phase often times senior management, who were suited for the initial stage or better succeeded by a new team).RECOMMENDATIONS: Our recommendation consists of three key elements that will drive profitability, continued growth, and increase market share – adding shareholder value. Breakeven and ultimately profitability can be achieved (1) by instituting aggressive pricing to both vendors and sales force, (2) the merger of Starion Instruments with a bigger firm and/or (3) the acquisition of another firm that will allow them to manufacture, distribute, market and sell the product at a cheaper and more efficient manner.Current State: Currently, Starion is the one of the world leaders on surgical device development. It has expanded worldwide distribution of its proprietary tissue welding technology to physicians in North America, Europe, the Middle East, Africa, and Asia. Last year the Society of Laparoendoscopic Surgeons named Starion Instruments the 2007 Innovator of the Year for the development of its next-generation Tissue Ligating Shears which use its innovative cut and cauterizing technology.Since the launch of their original Cautery Forceps, Starion has created an entire line of Forceps and Ligating Shears which can all be viewed on their website http://www. starioninstruments. com/products. html. They are still a privately held company which is astounding given their tremendous success. This is not surprising given the fact that the first time they were offered to be bought out they declined. This has kept the leadership at the mercy of the owners and founders and will provide a unique company such as Starion the ability to continue providing innovative, cost efficient, and quality

Mapping Channel Flows in the Music CD industry

In the music CD industry, the choice of the efficient marketing policy is one of the crucial factors in the success of the particular brand. CD’s are one of low-involvement products which can be bought by the customers out of the large selection. In order to be successful, every particular producer in the music industry has to define the marketing mix of the product which includes product, price, promotion, and place. While the first 3 components of marketing mix are very important, the last one which is place seems to â€Å"catch all† of the 4 P’s.Place is a very complex component of marketing mix because it includes such important areas of marketing as decisions about channels, logistics, retailing, customer support and many other issues. The right choice of distribution policy and channels are very important for the success of the producer, and those aspects cannot be neglected.The easiest way for the producer to sell the products to the final customers is by direct selling. The dialog between the supplier and the buyer is the easiest way in which the product can be purchased. However, most industries do not have such a luxury. It becomes inefficient for the producer to sell items directly to the customer, and he gives those functions to all types of intermediaries. In most cases, complex industries have a whole chain of intermediaries which bring the product to the end-user. This system of distribution represents a kind of a channel through which from the producer to the first intermediary and from the first intermediary to all others one by one product, payments, and information flow are channeled.Whenever the chain is very long, it’s obvious that every member in the chain, as well as the end-user has his specific needs, which all have to be taken into account by the producer. It’s very important to make sure that the information flow through the channel does not break. The more intermediaries there are between the produc er and the end-user, the more complicated the relationships inside the channel become, and more attention has to be paid by the producer so that the quality of the product remains high as in the very beginning of the chain. CD’s industry deals with rights on a particular part of property, therefore it’s very important to maintain the chain of suitable distributors which provide the highest quality of the music record companies products.The most widely-used forms of â€Å"channels† of distributions used by the companies include the following:v Selling direct (with the help of salesforce);v Mail order (including telephone sales);v Retailer;v Wholesaler;v Agent (who acts on the behalf of the producer) (Mercer, 467)In order to maintain the quality of the production, it’s necessary for the producer to keep some control over the members of the distribution channel. Most music record companies pay close attention to that. Once the control is entirely lost, it mi ght be hard for the producer to monitor the sales and the quality. The most efficient structure is when the producer structures the distribution channel by himself. Depending on what market the producer is in, this issue touches him in a different way. For example, when the producer produces mass consumer goods and there are many competitors in the market offering the same type of product, it’s not that important for the producer to control all the distributors who offer his product.The producer’s goal is to increase the number of distributors offering his product because he wants to have a large share of the market. In the opposite case, when the goods produced by the company have some unique features and the company competes with competitors mostly in quality, it has to take responsibility over the quality of the products which it offers and may suffer losses if the quality of the products end-users receive is low. Therefore, the producer will very much care in such a case about the quality of the goods which are offered to the end-users, and do his best to determine only very reliable distributors of his production in order to have a strong emphasize on quality. The mentioned approaches which can be used by the producer in the distribution policy therefore include:1.  Ã‚  Ã‚  Ã‚  Ã‚   Intensive distribution;2.  Ã‚  Ã‚  Ã‚  Ã‚   Selective distribution;3.  Ã‚  Ã‚  Ã‚  Ã‚   Exclusive distribution.In the case of the intensive distribution, the main emphasize is made on the number of distributors selling the company’s product. The price competition is evident in such a case and quality of all the similar goods offered in the market is pretty much the same.Selective distribution means that the producer selects suitable distributors to re-sell the product. Those distributors who have a good reputation get a chance to sell the company’s products. The selection can be quite wide, and the producer in such a case in not very concerned about the top quality of the products which he is offering. Exclusive distribution is common in such fields where companies offer products with unique characteristics and the main point of the marketing policy of the company is offering goods of the highest quality. Every little detail of the product is important in such a case.Therefore, companies choose a very limited selection of distributors who will be re-selling their product in order to maintain the highest quality. The main partners of the company in the distribution channels include such establishments as specialty outlets, supermarkets, department stores, and discount outlets. Specialty outlets have a narrow product line (Mercer, 473). For example, in fashion industry specialty outlets aim at women of a specific age group with a specific taste. Such distributors offer a greater degree of personal service and usually the selection of products for the targeted group of customers is very large.Supermarkets can be characteriz ed by the following principles: self-service and self-selection displays; centralization of customer services; large scale; a strong price emphasize; a broad assortment of merchandise. The most famous supermarkets include Sainsbury, Tesco, Wal-Mart, and others. Department stores cover a large variety of products in different departments of the stores and offers great competition for supermarkets. Examples of department stores include Boots, Marks & Spencer, British Home Stores. Discount outlets specialize in a â€Å"high turnover at low cost†. They usually specialize in products of one field and get a 30-day credit from their suppliers. For example, they include Dixons in consumer electronics/electrical; MFI in furniture.A major feature of the distribution channel is that there is a â€Å"value-add’ of every level of channel. Just as the product and information are channeled from one level of the channel to another, the value is also added at every level step by step. For example, in the music industry, the value is first added by the manufacturer who makes the music label, then the CD’s are passed to distributors, sometimes on a couple of levels until they reach the customer. At every level, the value is added because more companies participate in the process.The manufacturer is the one who owns the music label and therefore is the main player in the game. He adds the most value to the product, which consists of the cost of production and the profit. However, without the distributors the CD would not be able to get the end-users, so at every level of the channel new value is added to the primary product. The first level of distributors can be wholesalers, the second level can consist of retailers. Therefore, value is added at 3 levels until it reaches the end-user.In the music industry, the efficiency of channel members is very high. Companies producing CD’s pay close attention to the distributors who specialize in selling CD†™s and for the most part, those channels fall into the category of selective distribution. The channel distribution in the music industry is very complex due to the characteristic features of the industry. Nowadays, there are many companies which produce CD’s (give the music label) and there are many customers in the market who are willing to buy those CD’s.   For example, Sony Records, Inc. is one of the leaders in the music industry production.However, it faces some competition in the market. Customers can give preference to CD’s produced by other companies as well. Therefore, every music record company needs to make sure there are many distributors who are brining CD’s to the end-users and also maintain high quality of the product. The distributors in the music industry include music stores which deal with CD’s in particular, supermarkets where one can also find this product, and Internet distributors which specialize in music CD’s. T he chain of distributors is quite large in the music industry. It’s very important for music record companies to provide the highest quality of their musical CD’s.One of the reasons of the need in high quality is that nowadays music record companies face sharp competition from the Internet. It has become very simple for people who are fond of music to download music files from the Internet, and they no longer need to go into the music stores in order to get the CD’s. The files which people can download from different sites are free of charge, and no money goes to the singers from those operations. One of the ways to fight with that competition for music record companies is by offering the highest quality of their products. If a person can buy a CD of the highest quality in the music store, he might stick to it and not use Internet for getting his favorite music albums.Another way is to include Internet distributors of music products which can compete with free m usic upload by offering additional services. Such distributors as Amazon.com for example can guarantee high volumes of CD’s sales due to its closeness to the customer. It’s common truth that many people who use Internet are interested in music. As long as they can order their favorite CD’s on Amazon.com, they will keep their hands off the free file upload. However, in such a case the emphasize on the quality is important as never: the customers will order CD’s from Amazon.com as long as the quality of CD’s is beyond competition. In addition to that, it’s important to make sure Internet users get some additional benefits together with CD’s, for example, suggestions about their future possible purchases, discounts, or free information about their favorite singers.The efficiency of the CD’s and payment in the music industry through the distribution channel is very efficient but there can be some developments made in it. The most i mportant is to keep in mind the importance of Internet in the distribution of CD’s. It’s also possible to devote some attention to such types of direct marketing as teleselling, direct mail, and direct selling. By mailing catalogues to potential customers, large volumes of sales can be achieved. For maximum efficiency of distribution in music industry, it’s necessary for music record companies to devote lots of attention to maintaining a large chain of distributors but at the same time monitor the quality of the products which are being offered to end-users.Bibliography.David Mercer. Marketing. Blackwell Business. 1992. J. Barry Manson, Moris L. Mayer, Hazel F Ezell. Foundations of Retailing. Business Publications, Inc., 1984. Kevin J. Clancy, Robert S. Shulman. The Marketing Revolution. HarperBusiness, 1991. Kotler. Marketing Management. 1986. R.M. Johnson. Market segmentation: a strategic marketing tool. Journal of Marketing research, vol. 7, 1981.

Free Essays on Oedipus Is Both A Saving And Destructive Force For Thebes

Throughout Sophocles’ play ‘Oedipus Rex’, Oedipus acts as both a saving and destructive force for the city of Thebes. He saves the city from the Sphinx and searches for the killer of Laius, the previous king, to cleanse the land and end plague. He is destructive in that he was unwittingly the killer of Laius and therefore the cause of plague and suffering in Thebes. Oedipus leaves immediately without fuss when he is proven, thus saving Thebes again. However, these acts were simply the fate the gods had handed him. He was merely a puppet controlled by the gods, therefore the saving and destructive forces were not those of Oedipus but rather the gods. The theme of ‘Oedipus Rex’ is fate. It is meant to tell the audience that the gods have complete control and that one cannot change what is meant to be. Sophocles tells the story of a man, Oedipus, who could not rewrite his destiny, though all efforts were put in place to change it. When Oedipus was first born to King Laius of Thebes and his wife Jocasta, the god Apollo told of his terrible fate. Oedipus speaks of it: ‘I must marry my mother†¦and kill my father’1 His parents could not let this awful fate prevail so they gave the child to their servant, a shepherd, to leave on a mountainside to die. Had this have been done by the shepherd, the subsequent events would have been prevented but one cannot mess with fate. The shepherd, not having the heart to leave a baby to die, gave him to another shepherd who then passed him on to his Lord, the King of Corinth, Polybus, who decided to keep the child and raise him as though he was his own. Thus, Oedipus was allowed to live and to fulfil his horrible fate and in doing so become a very destructive force for Thebes. As a man Oedipus fled the safety of Corinth after hearing of his awful destiny from the gods and running away for fear of killing his father, whom he believed was Polybus. It was fate that on this journey he wou... Free Essays on Oedipus Is Both A Saving And Destructive Force For Thebes Free Essays on Oedipus Is Both A Saving And Destructive Force For Thebes Throughout Sophocles’ play ‘Oedipus Rex’, Oedipus acts as both a saving and destructive force for the city of Thebes. He saves the city from the Sphinx and searches for the killer of Laius, the previous king, to cleanse the land and end plague. He is destructive in that he was unwittingly the killer of Laius and therefore the cause of plague and suffering in Thebes. Oedipus leaves immediately without fuss when he is proven, thus saving Thebes again. However, these acts were simply the fate the gods had handed him. He was merely a puppet controlled by the gods, therefore the saving and destructive forces were not those of Oedipus but rather the gods. The theme of ‘Oedipus Rex’ is fate. It is meant to tell the audience that the gods have complete control and that one cannot change what is meant to be. Sophocles tells the story of a man, Oedipus, who could not rewrite his destiny, though all efforts were put in place to change it. When Oedipus was first born to King Laius of Thebes and his wife Jocasta, the god Apollo told of his terrible fate. Oedipus speaks of it: ‘I must marry my mother†¦and kill my father’1 His parents could not let this awful fate prevail so they gave the child to their servant, a shepherd, to leave on a mountainside to die. Had this have been done by the shepherd, the subsequent events would have been prevented but one cannot mess with fate. The shepherd, not having the heart to leave a baby to die, gave him to another shepherd who then passed him on to his Lord, the King of Corinth, Polybus, who decided to keep the child and raise him as though he was his own. Thus, Oedipus was allowed to live and to fulfil his horrible fate and in doing so become a very destructive force for Thebes. As a man Oedipus fled the safety of Corinth after hearing of his awful destiny from the gods and running away for fear of killing his father, whom he believed was Polybus. It was fate that on this journey he wou...

Academic, Personal Management, and Teamwork Skills

These are probably the most important skills you have to get, because nowadays employers are looking for people with best academically background, because they know that a better prepared employee can give better answers at the time of working, but of course, as a worker you must be prepared for every kind of situation, because you never know what can happen, and I say this on the Academic Skills because one of these skills is the capacity to learn and adapt yourself to the situation you have to solve.On the other hand, personal management I?s an important skill and here is the reason. Nowadays employers are not just looking for smart people, they are not just looking for barbarians that can be very good at what they do but they cant control their emotions, theyre now looking for people with a level of Emotional Intelligence, because they think Theres nothing to do with a guy that knows the whole process, but cannot accept a constructive critic so hats the reason the Personal Managem ent is one of the most important skills In a job. And finally we have teamwork skills. Its obvious you will not be away from civilization when you work. Its well known that you must interact with several people during your work hours, and you must know that getting along well with them its an important step for this skill. You must be patient, tolerant and last but not least, participative, because as a team you must take decisions together and respect others opinion.So, we can conclude that: Workers must be integral persons, with academically, personal, and teamwork skills, so they can get along well with their work partners and environment. We must not focus on having or enhancing just one of these skills, on the contrary we must work out the three of them, because the three of them are important. It doesnt matter we dont have the three of these skills, no one is born knowing everything, we can enhance a develop this, and many more skills.

Microeconomic Principles Essay Example | Topics and Well Written Essays - 1000 words

Microeconomic Principles - Essay Example Private property exists in the free market economy, while there is no existence of private property in the command economy. Free markets promote important virtues and they, however are treated with less attention. Free markets promote integrity and cooperative values. A free market system has its reliance on property rights and provides the best possible opportunities for repeat exchange. The social market economy is a type of free market based economy, which is based on a free price system and private property. This also includes government regulation, which promotes competitive markets. But social inequalities or inequalities with respect to income are results of free market economies or free market price systems. Private property is completely different from personal property, because private property is considered as a means of production unlike personal property. â€Å"In addition, the free market performs a constant process of selection with respect to the ownership of capital † (Reisman 8). Another virtue of the free market price system is that this type of price system penalizes people for making irrational choices, especially with respect to financial loss. 2) President Barrack Obama has provided a number of speeches with respect to international trade.... Obama in his various speeches on international trade also said about various policies relating to various countries like, US should tighten its trade sanctions with Zimbabwe and how it should develop measures to increase trade with India. To shorten, Obama has released a number of speeches with respect to international trade. 3) Economists are critical of price floors and price ceilings. A price ceiling is the upper limit of the price of a commodity above which no seller can raise a price. Price ceilings are usually set below the market price of a product. Price floors are completely opposite to price ceiling. Price floor is the minimum price for a product and this is done to benefit the sellers. Both these measures are done in order to have a control over the price of products. Economist are critical of both price floors and price ceilings because somehow they viewpoint that these prices should be established through market equilibrium only. 4) A wage is compensation, typically fina ncial, received by employees in exchange for their work. Compensation in conditions of wages is specified to workers and compensation in terms of salary is given to employees. Compensation is an economic benefit given to workers in return for the services given by them. The labor supply largely resolved by population development and migration; i.e. as labor supply increases, population development increases. Labor demand mostly determined by the growth and size of the financial system, in terms of more economic development, more business actions, more jobs formed. The wages are mainly of two types, they are Market-determined or equilibrium wage and Government-mandated minimum wage. Market-determined wage means the level of