Psychology can help us understand ourselves and others. Discuss with Essay

Brain research can assist us with getting ourselves as well as other people. Talk about concerning two of four fundamental subjects. a] character, b] Intelligence, c] feelings, d] cognizance - Essay Example Perception is the procedure or demonstration of knowing and ready to make some judgment about it. It is exceptionally wide which incorporate an entangled mental procedure enveloping capacities like recognition, memory, learning, and critical thinking. Insight incorporates in excess of barely any components or procedures which all work to portray the way information is developed and furthermore how decisions of individuals are made. The components identified with these procedures are: seeing, perceiving, thinking, critical thinking, conceptualizing, learning, memory, and language (Scienceclarified, 2008). The individual’s capacity to appreciate or the discernment capacity is essential for a logical understanding what human conduct is about. As per the examinations of different specialists, mental procedures like affiliation, review procedure, and comprehension about language depend on the physical relations or cooperations of individuals with their condition, rather than the body which underpins the brain; it is essentially seeing the body as an emotionally supportive network for a psyche. Intellectual structures advance from discernment and activity like a product (Turing, 1950) which can run on various equipment frameworks. Human brain can control theoretical images dependent on the cooperations of individuals around by means of his tangible organs just as incredibly planned effectors. Wilson (2002) has six different cases about cognizance: 1) insight is arranged; 2) discernment is time constrained; 3) perception is off-stacked onto the earth; 4) the earth is a segment of the intellectual framework; 5) comprehension is for activity; 6) a disconnected insight is body based. He further underlined that, sensorimotor capacities which developed for activity just as discernment have been favored for the utilization of disconnected cognizance. Along these lines, it is consistent to state that, perception depends on the elements of human body and associated with nature. Some current trials have exhibited that perceptual just as engine

Theories of Democracy - Against Human Rights Essay - 2

Hypotheses of Democracy - Against Human Rights - Essay Example Indeed, even wars based on compassionate grounds ought to be kept away from to forestall loss of lives and the nonattendance of social relativism in a portion of the countries that are known to persevere through the set thoughts and standards of various districts. As indicated by Ã… ½iÃ¥ ¾ek, human rights are characterized as practicing the opportunity to pick any given thing without damaging the opportunity privileges of others, regardless of whether it implies challenging war. Strikingly, Ã… ½iÃ¥ ¾ek is strong of philanthropic intercessions just so far as they are discovered ensuring and helping human life. Despite the fact that he isn't amped up for compassionate impedance all in all, he feels that such intercessions ought to be defended. Independent of the convictions of the individuals in a specific country, their lives must be secured and bolstered regarding its ideas and guidelines. A genuine popular government will consistently hang out in its capacity to shield its residents. Opportunity and Democracy are huge rights, referenced by the author, ought to be actualized even at home in a country that supports such rights. It is critical to take note of that there is nothing general about â€Å"right.† There is more than one approach to completing things and this is apparent in the differed social points of view, particular world highlights, exceptional customs and social distinguishing pieces of proof. Ã… ½iÃ¥ ¾ek calls attention to that it isn't right to disregard the distinctions one of a kind to differed races. A great deal of distress and clashes on the planet emerge when countries attempt to force their method of following up on different countries and this, thus, produces war as opposed to harmony. Narrow mindedness towards different people’s perspectives is the principle harming power that adulterates nations.â

How to Build Your Company Vision

How to Build Your Company Vision You know that you have succeeded when you have achieved the goal or accomplished the purpose, that you have set out to achieve or accomplish from the beginning. All those hours, resources and efforts that you have spent on planning, researching, and subsequently implementing those plans are directed towards a fixed objective. You know, from the outset, that you want your business to become something. You have a vision in your mind what you want it to be in the future.But we are not talking about just any vision here. We are referring to your company’s, or your business’, vision. © Shutterstock.com | ArchjoeIn this article, I explore 1) the company vision, 2) how to build your company vision, and 3) case study: Disneys company vision.THE COMPANY VISIONA company vision, which comes in the form of a vision statement, is a clear declaration of what a company, business or organization wants to achieve or become in the future. It is not to be confused with the “mission statement”, which puts forth how the company, business, or organization intends to achieve a realization of that vision. The two are closely related, however, since the vision provides a plan for the future, while the mission statement is essentially an outline of the company’s purpose and operations.Why does a company have to have a vision?Simple. You cannot start planning if you do not know where you are going or you do not know what you want to become in the future. You cannot map out directions if you do not have a destination in sight.You cannot start strategic business planning if you a re cannot envision where your business wants to be.You can liken your company vision to your business’ destination. Unfortunately, it is a fact that not all employees are fully aware of where their organization is heading, and having a vision will rectify that problem. All levels of the organization will be kept in the loop, so to speak, and this awareness will give them focus in carrying out their assigned tasks, duties and responsibilities.HOW TO BUILD YOUR COMPANY VISIONYou have probably come across several company visions through your readings. Some had a lot of impact while other seemed so-so. There are also those that you probably thought did not make a lot of sense. Some were well-written, others just didn’t make sense.Creating the company vision for a business takes a lot more than putting words together to form several sentences.Components of the Company VisionTo be effective, a company vision should have the following two major components:1.     Core ideologyWhat motiv ates the members of the organization to do their part in the operations of the business? What are the ideals that they are inspired to uphold as they go about in the performance of their functions? The answers to these questions make up the core ideology component of the company vision.An organization is defined by its core ideology; it serves as its identity. The leaders of the organization may change. The market and the industry it belongs to may evolve. There may be new technological and management breakthroughs that impact the business and the industry as a whole. Still, the identity of the business will remain the same, its core ideology still intact.The biggest names in business are in agreement when they say that it is important for the business to be self-aware. Before knowing where it is going, it must know itself first. After all, destinations may change, but the identity of the person or entity undertaking the journey will not.In a similar way, the core ideology also serv es as a guide for the organization. Through the course of business operations, it is the one thing that the organization will look back to in order to remind itself why it is even operating. Granted, the organization is expected (or hoped for) to grow, expand, and diversify as the years go by. As these changes are being wrought, the core ideology serves as the one constant thing that keeps the organization a cohesive unit.The core ideology is primarily for internal purposes. It has to hold meaning to the members within the organization, regardless of whether or not it has an impact to those outside the organization.A. Core valuesIf we are talking about the set of guiding principles that the business organization is following, we are referring to its core values. These are the essential and enduring tenets that the organization lives by.Who decides what the company’s core values are? It is the company itself. It is the company that is supposed to know itself best; therefore, it is also the company that is in the best position to decide what its core values are.Companies, even those that belong in the same industry or are engaged in the same line of business, are likely to have different core values. This happens. In fact, it is almost expected. This is because companies may have different opinions on what values are supposed to be core.Core values are unchanging. This is the primary feature that sets it apart from the business strategies and operating practices. Some even mistake cultural norms observed by the organization as its core values. Take note that norms, especially the cultural ones, are sensitive to change, while core values are not. Nordstrom, which was founded in 1901, listed “service to the customer above all else” and “hard work and individual productivity” as two of its core values. More than a century later, these core values still remain in the company’s core ideology.Note that an emphasis must be placed on the word “core”. If you ask a company to list its values, you will probably be presented with a very long list. Ask them to identify their core values, and the list is likely to be shortened to only a handful. Most companies, even the large ones, have an average of 5 core values. Again, just as there is no universal core value that applies to all businesses, there is also no set number of core values that must be present in all companies.Take, for example, the core values of Merck Co. and Novartis, two of the top pharmaceutical companies in the world.Merck Co. lists the following as its core values:Improving LifeEthics and IntegrityInnovationAccess to HealthDiversity and TeamworkNovartis, on the other hand, has the following:Passion, integrity, and courageCorporate responsibilitySocial and cultural diversityYou will immediately note that there are similarities and differences. But keep in mind that the absence of one item does not automatically mean that it is not one of the values of the business. I t simply means that it is not one of their core values.B. Core purposeAs the phrase implies, the core purpose states clearly why the organization exists.There is a general confusion between the business’ core purpose and its goal. The core purpose answers the WHY of the organization’s existence; the goal answers the WHAT FOR question.Many often interchange core ideology with the “core competencies” of the business. They are two different things; however, they are interconnected.Core ideology is the broader concept, encompassing core competencies that, for its part, define the capabilities of the business or where it excels in. In a manner of speaking, core competencies are part of or are rooted in the core ideology of the organization.2.     Envisioned futureUnlike core ideology, which is fixed or unchanging, the envisioned future is more flexible. It is what the business aspires to achieve or to become in the future. There is a finish line up ahead; what does the business p icture to be waiting at that finish line?Business often set a goal for a certain period, say, 10, 20, or 30 years. The goal has to be something big; maybe even unattainable, when you think about where your business is at the moment.Once the goal has been established, it should also have descriptions or scenarios of what it would be like for the business to achieve that goal. The descriptions have to be vivid and compelling so that members of the organization reading it cannot help but want to help in achieving those goals.Steps Of How to Create Your Company VisionStep 1: Set a time frameHow long is the time period within which you expect to achieve the goal that you have envisioned?There is no fixed time frame for this purpose, although most businesses â€" even startups â€" tend to think long-term. Normally, time frames are for 5 years and 10 years. Others even reach 20 and 30 years.Step 2: Write the first draftThis is deemed by many to be the most difficult part of creating a visio n statement: getting started.Come up with a BHAV, also known as a “big, hairy, audacious vision”. Adopt a “dream big” attitude. It has to be huge, it has to be something incredible, and it has to be something really bold. In fact, at first glance, it may even seem unattainable. That’s perfectly all right. It is what you envision, after all.When developing a BHAV, you have to be specific, clear and concise about it. Anyone who reads your BHAV should be able to grasp it at first look. Your objective is for your big, hairy and audacious vision to come across without any need for questions or clarifications.Have a future-oriented mindset. Pretend that it is already the future, and you are already at the end of the time frame that you have previously set. Here, you assume that have already achieved your company vision.Before putting pen to paper, consider the following details:The size of the organization;The organizational structure;The organization’s claim to fame, if any;Y our specific yardstick for measuring success;The kind of people needed by the organization, including their qualifications and skill sets;The attitude of the members of the organization towards their jobs, the company, and their working environment;What the organization will and will not do;The personal thoughts and feelings of the business owner or founder towards the business;The most important offerings of the organization to customers or clients;Public perception of your business.Step 3: Get feedbackThe best people to get the most relevant feedback from are those that will be implementing it: the members of the organization, from top management to the employees.Step 4: RewriteUnless you are a seasoned “company vision creator or writer”, you are bound to encounter a need to do rewrites.Step 5: Get feedback on the rewriteSteps 4 and 5 may be done repeatedly, until such time that you are satisfied with the vision you have created.Step 6: Share the visionThe final company vision must then be shared to those who are going to implement it, namely, the management and all the members of the organization.Note that there is no fixed length of a company vision statement. It could be as short as a single sentence, or it could be longer, composed of more than a few sentences. Here are the characteristics of a good vision statement:It must be brief and to the point. Being verbose will not really help in making the vision statement as impactful as you’d want it to be.It must be for the long-term.It must not be too specific, as this may be limiting, such that the vision will no longer be applicable 10, 20 years down the road. However, it must not be too generic, either.CASE STUDY: DISNEY’S COMPANY VISIONWhen it comes to entertainment brands, one of the most recognizable â€" if not THE MOST recognizable â€" brands in the world is Disney. Founded in 1923 by Walter Elias Disney, The Walt Disney Company was initially known as the Disney Brothers Cartoon Studio, focusi ng on animation projects. Over the decades, it has diversified its operations and has branched out into live-action film and television production, music and radio, publishing, online media, as well as theme parks and resorts. Today, this multinational company is said to be the second largest broadcasting and cable company globally.Disney lumped its vision and mission in a couple of sentences:“The mission of The Walt Disney Company is to be one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.”Disney’s Core IdeologyDisney’s core purpose, or its “reason for being”, is to make people happy or “to bring happiness to millions”. This is primarily through reigniting or rekindling the magical wonderment that can only be experien ced during childhood. Mention Disney, and the phrase “magical experience” is not too far behind.The core purpose of the company beyond just making money is very apparent. From the statement above, it is also easy to come up with the “creativity + innovation = profit” equation. Clearly, the statement still applies today.The core purpose â€" to make people happy â€" is well-crafted because it is specific, but not too limiting. What if Disney stated its core purpose as “to create cartoons or animated shows”? There will certainly be a gaping hole in the vision statement as the company diversified and branched out into other fields.Walt Disney listed the following as its core values, and they are all in support of the company’s core value.No cynicism;Nurturing and promulgation of wholesome American values;Creativity, dreams, and imagination;Fanatical attention to consistency and detail;Preservation and control of the Disney “magic”.The envisioned future component was su mmed up in the first sentence:to be one of the world’s leading producers and providers of entertainment and information.The second statement states the HOW of the first statement, so it works more as a mission statement.It is noticeable how the statement did not explicitly mention a time frame. This is actually a good move on the part of the creator of the company vision, since it did not box the company into a strict timeline. The statement is also encompassing, covering all operations of Disney, which is one of the most diversified companies around. It applies to all Disney’s businesses, which include Media Networks, Parks and Resorts, Studio Entertainment, Disney Consumer Products, and Disney Interactive.Did Disney achieve that vision?Certainly, it has, since it is now “one of the world’s leading producers and providers of entertainment and information”. But achieving the vision does not mean that it now has to stop and rest easy, since competition in the industry that Disney belongs to is very tough. For Disney, it is a continuous battle to ensure that the vision they have achieved remains to be true.The public and the business community are more inclined to take a company seriously if it has a clear and very good company vision. With the right mix and balance of objectivity, creativity, passion, and familiarity with the business, you will definitely have no trouble creating a good company vision.

How to Build Your Company Vision

How to Build Your Company Vision You know that you have succeeded when you have achieved the goal or accomplished the purpose, that you have set out to achieve or accomplish from the beginning. All those hours, resources and efforts that you have spent on planning, researching, and subsequently implementing those plans are directed towards a fixed objective. You know, from the outset, that you want your business to become something. You have a vision in your mind what you want it to be in the future.But we are not talking about just any vision here. We are referring to your company’s, or your business’, vision. © Shutterstock.com | ArchjoeIn this article, I explore 1) the company vision, 2) how to build your company vision, and 3) case study: Disneys company vision.THE COMPANY VISIONA company vision, which comes in the form of a vision statement, is a clear declaration of what a company, business or organization wants to achieve or become in the future. It is not to be confused with the “mission statement”, which puts forth how the company, business, or organization intends to achieve a realization of that vision. The two are closely related, however, since the vision provides a plan for the future, while the mission statement is essentially an outline of the company’s purpose and operations.Why does a company have to have a vision?Simple. You cannot start planning if you do not know where you are going or you do not know what you want to become in the future. You cannot map out directions if you do not have a destination in sight.You cannot start strategic business planning if you a re cannot envision where your business wants to be.You can liken your company vision to your business’ destination. Unfortunately, it is a fact that not all employees are fully aware of where their organization is heading, and having a vision will rectify that problem. All levels of the organization will be kept in the loop, so to speak, and this awareness will give them focus in carrying out their assigned tasks, duties and responsibilities.HOW TO BUILD YOUR COMPANY VISIONYou have probably come across several company visions through your readings. Some had a lot of impact while other seemed so-so. There are also those that you probably thought did not make a lot of sense. Some were well-written, others just didn’t make sense.Creating the company vision for a business takes a lot more than putting words together to form several sentences.Components of the Company VisionTo be effective, a company vision should have the following two major components:1.     Core ideologyWhat motiv ates the members of the organization to do their part in the operations of the business? What are the ideals that they are inspired to uphold as they go about in the performance of their functions? The answers to these questions make up the core ideology component of the company vision.An organization is defined by its core ideology; it serves as its identity. The leaders of the organization may change. The market and the industry it belongs to may evolve. There may be new technological and management breakthroughs that impact the business and the industry as a whole. Still, the identity of the business will remain the same, its core ideology still intact.The biggest names in business are in agreement when they say that it is important for the business to be self-aware. Before knowing where it is going, it must know itself first. After all, destinations may change, but the identity of the person or entity undertaking the journey will not.In a similar way, the core ideology also serv es as a guide for the organization. Through the course of business operations, it is the one thing that the organization will look back to in order to remind itself why it is even operating. Granted, the organization is expected (or hoped for) to grow, expand, and diversify as the years go by. As these changes are being wrought, the core ideology serves as the one constant thing that keeps the organization a cohesive unit.The core ideology is primarily for internal purposes. It has to hold meaning to the members within the organization, regardless of whether or not it has an impact to those outside the organization.A. Core valuesIf we are talking about the set of guiding principles that the business organization is following, we are referring to its core values. These are the essential and enduring tenets that the organization lives by.Who decides what the company’s core values are? It is the company itself. It is the company that is supposed to know itself best; therefore, it is also the company that is in the best position to decide what its core values are.Companies, even those that belong in the same industry or are engaged in the same line of business, are likely to have different core values. This happens. In fact, it is almost expected. This is because companies may have different opinions on what values are supposed to be core.Core values are unchanging. This is the primary feature that sets it apart from the business strategies and operating practices. Some even mistake cultural norms observed by the organization as its core values. Take note that norms, especially the cultural ones, are sensitive to change, while core values are not. Nordstrom, which was founded in 1901, listed “service to the customer above all else” and “hard work and individual productivity” as two of its core values. More than a century later, these core values still remain in the company’s core ideology.Note that an emphasis must be placed on the word “core”. If you ask a company to list its values, you will probably be presented with a very long list. Ask them to identify their core values, and the list is likely to be shortened to only a handful. Most companies, even the large ones, have an average of 5 core values. Again, just as there is no universal core value that applies to all businesses, there is also no set number of core values that must be present in all companies.Take, for example, the core values of Merck Co. and Novartis, two of the top pharmaceutical companies in the world.Merck Co. lists the following as its core values:Improving LifeEthics and IntegrityInnovationAccess to HealthDiversity and TeamworkNovartis, on the other hand, has the following:Passion, integrity, and courageCorporate responsibilitySocial and cultural diversityYou will immediately note that there are similarities and differences. But keep in mind that the absence of one item does not automatically mean that it is not one of the values of the business. I t simply means that it is not one of their core values.B. Core purposeAs the phrase implies, the core purpose states clearly why the organization exists.There is a general confusion between the business’ core purpose and its goal. The core purpose answers the WHY of the organization’s existence; the goal answers the WHAT FOR question.Many often interchange core ideology with the “core competencies” of the business. They are two different things; however, they are interconnected.Core ideology is the broader concept, encompassing core competencies that, for its part, define the capabilities of the business or where it excels in. In a manner of speaking, core competencies are part of or are rooted in the core ideology of the organization.2.     Envisioned futureUnlike core ideology, which is fixed or unchanging, the envisioned future is more flexible. It is what the business aspires to achieve or to become in the future. There is a finish line up ahead; what does the business p icture to be waiting at that finish line?Business often set a goal for a certain period, say, 10, 20, or 30 years. The goal has to be something big; maybe even unattainable, when you think about where your business is at the moment.Once the goal has been established, it should also have descriptions or scenarios of what it would be like for the business to achieve that goal. The descriptions have to be vivid and compelling so that members of the organization reading it cannot help but want to help in achieving those goals.Steps Of How to Create Your Company VisionStep 1: Set a time frameHow long is the time period within which you expect to achieve the goal that you have envisioned?There is no fixed time frame for this purpose, although most businesses â€" even startups â€" tend to think long-term. Normally, time frames are for 5 years and 10 years. Others even reach 20 and 30 years.Step 2: Write the first draftThis is deemed by many to be the most difficult part of creating a visio n statement: getting started.Come up with a BHAV, also known as a “big, hairy, audacious vision”. Adopt a “dream big” attitude. It has to be huge, it has to be something incredible, and it has to be something really bold. In fact, at first glance, it may even seem unattainable. That’s perfectly all right. It is what you envision, after all.When developing a BHAV, you have to be specific, clear and concise about it. Anyone who reads your BHAV should be able to grasp it at first look. Your objective is for your big, hairy and audacious vision to come across without any need for questions or clarifications.Have a future-oriented mindset. Pretend that it is already the future, and you are already at the end of the time frame that you have previously set. Here, you assume that have already achieved your company vision.Before putting pen to paper, consider the following details:The size of the organization;The organizational structure;The organization’s claim to fame, if any;Y our specific yardstick for measuring success;The kind of people needed by the organization, including their qualifications and skill sets;The attitude of the members of the organization towards their jobs, the company, and their working environment;What the organization will and will not do;The personal thoughts and feelings of the business owner or founder towards the business;The most important offerings of the organization to customers or clients;Public perception of your business.Step 3: Get feedbackThe best people to get the most relevant feedback from are those that will be implementing it: the members of the organization, from top management to the employees.Step 4: RewriteUnless you are a seasoned “company vision creator or writer”, you are bound to encounter a need to do rewrites.Step 5: Get feedback on the rewriteSteps 4 and 5 may be done repeatedly, until such time that you are satisfied with the vision you have created.Step 6: Share the visionThe final company vision must then be shared to those who are going to implement it, namely, the management and all the members of the organization.Note that there is no fixed length of a company vision statement. It could be as short as a single sentence, or it could be longer, composed of more than a few sentences. Here are the characteristics of a good vision statement:It must be brief and to the point. Being verbose will not really help in making the vision statement as impactful as you’d want it to be.It must be for the long-term.It must not be too specific, as this may be limiting, such that the vision will no longer be applicable 10, 20 years down the road. However, it must not be too generic, either.CASE STUDY: DISNEY’S COMPANY VISIONWhen it comes to entertainment brands, one of the most recognizable â€" if not THE MOST recognizable â€" brands in the world is Disney. Founded in 1923 by Walter Elias Disney, The Walt Disney Company was initially known as the Disney Brothers Cartoon Studio, focusi ng on animation projects. Over the decades, it has diversified its operations and has branched out into live-action film and television production, music and radio, publishing, online media, as well as theme parks and resorts. Today, this multinational company is said to be the second largest broadcasting and cable company globally.Disney lumped its vision and mission in a couple of sentences:“The mission of The Walt Disney Company is to be one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.”Disney’s Core IdeologyDisney’s core purpose, or its “reason for being”, is to make people happy or “to bring happiness to millions”. This is primarily through reigniting or rekindling the magical wonderment that can only be experien ced during childhood. Mention Disney, and the phrase “magical experience” is not too far behind.The core purpose of the company beyond just making money is very apparent. From the statement above, it is also easy to come up with the “creativity + innovation = profit” equation. Clearly, the statement still applies today.The core purpose â€" to make people happy â€" is well-crafted because it is specific, but not too limiting. What if Disney stated its core purpose as “to create cartoons or animated shows”? There will certainly be a gaping hole in the vision statement as the company diversified and branched out into other fields.Walt Disney listed the following as its core values, and they are all in support of the company’s core value.No cynicism;Nurturing and promulgation of wholesome American values;Creativity, dreams, and imagination;Fanatical attention to consistency and detail;Preservation and control of the Disney “magic”.The envisioned future component was su mmed up in the first sentence:to be one of the world’s leading producers and providers of entertainment and information.The second statement states the HOW of the first statement, so it works more as a mission statement.It is noticeable how the statement did not explicitly mention a time frame. This is actually a good move on the part of the creator of the company vision, since it did not box the company into a strict timeline. The statement is also encompassing, covering all operations of Disney, which is one of the most diversified companies around. It applies to all Disney’s businesses, which include Media Networks, Parks and Resorts, Studio Entertainment, Disney Consumer Products, and Disney Interactive.Did Disney achieve that vision?Certainly, it has, since it is now “one of the world’s leading producers and providers of entertainment and information”. But achieving the vision does not mean that it now has to stop and rest easy, since competition in the industry that Disney belongs to is very tough. For Disney, it is a continuous battle to ensure that the vision they have achieved remains to be true.The public and the business community are more inclined to take a company seriously if it has a clear and very good company vision. With the right mix and balance of objectivity, creativity, passion, and familiarity with the business, you will definitely have no trouble creating a good company vision.

Feminism And Gender Roles By Margaret Atwood - 1518 Words

In Surfacing by Margaret Atwood, there are numerous portrayals of feminism and gender roles. There are underlying hints of distaste towards the female sex role and the predatory, aggressive behaviour of men towards women. The suppression of women is portrayed and analyzed, and Surfacing manages to tackle the theme of gender roles by exploring through the perspective of the female narrator how women are marginalized in many aspects of their lives. . Surfacing makes a case for strong women that defy stereotypical gender roles and portrays how men are continually pushing the boundaries of their roles and going to the extreme with them. When this book was written in the late 60’s/70’s, gender role was an extremely important theme. Women†¦show more content†¦Later on the mother says she’d been scared to death, but the narrator couldn’t believe that because her mother had been so positive and assured, â€Å"as if she knew a foolproof magic formula: ges ture and word. She was wearing her leather jacket† (78). This passage clearly sets an appreciation that the narrator has for her mother, and likely all women that are strong and defiant in the face of demeaning stereotypes. In the context of the book, the narrator plainly states her distaste for the typical sex role of the female. This appreciation for strong women is made visible throughout the book. Another example of the book’s support for women that defy the stereotypical gender role is when the narrator questions why David forced Anna to strip naked just for his film, or when she denies David the opportunity to service her: â€Å"â€Å"Please don’t,† I said†¦ He reached his arm around me, invading, and pulled me over toward him; his neck was creased and freckled, soon he would have jowls, he smelled like scalp. His moustache whisked my face. I twisted away and stood up. â€Å"Why are you doing this?† I said. â€Å"You’re interfering.† I wiped at my arm where he had touched it† (152). David then continues to try to coerce her and she also blocks that attempt: â€Å"You’re putting me on,† he said, â€Å"this is the twentieth century.†... â€Å"No it isn’t,† I said. â€Å"Not here† (152). Clearly, the narrator here is strongly avoiding the attempts from David toShow MoreRelatedComp atison of Spotty Handed Villainesses and Keynote Address at the Beijing World Conference on Women.879 Words   |  4 Pagesof rhetoric to support its main ideas.’ Discuss this statement, making detailed reference to at least two speeches. Great speeches are those which timelessly captivate audiences through their integrity and rhetoric treatment. This is relevant to Margaret Atwood’s speech in 1994, Spotty Handed Villainesses (hereafter referred to as Villainesses), and Aung San Suu Kyi’s speech in 1995, Keynote Address at the Beijing World Conference on Women (hereafter referred to as Keynote). The ability of a speechRead MoreFeminism In The Handmaids Tale1709 Words   |  7 Pagescreated by men, with the complicity of women† (â€Å"Margaret (Eleanor) Atwood†). The separation of the freedoms between the genders created female victimization through â€Å"sexual exploitation, isolation, and compelled ignorance that accompany severe economic and political powerlessness† (Merriman). In Margaret Atwood’s, The Handmaid’s Tale, taking place in the imaginary Republic of Gilead, Atwood displays the theme of women in a restrictive society. Margaret Atwood, a Canadian author, was born on November 18Read MoreFrida Kahlo Feminist Theory Essay1267 Words   |  6 Pagesmediums: art, journalism, and music. Frida Kahlo is known for contributing to the feminist theory, having participated in joining the Communist Party in the 1920s, which was the second wave (Helland 397). What truly led Kahlo to become an icon of the feminism and feminist theory was her expression of herself. Kahlo painted many self portraits that revealed the pains that she celebrated, such as her physical disabilities and unhappiness in love, birth, and miscarriage (Helland 400). She also encompassedRead MoreFeminism in Novel Makaan of Paigham Afaqui1301 Words   |  6 Pagesprinciples of feminism, and refers to any literary work that centers on the struggle of a woman for equality, and to be accepted as a human being, before being cast into a gender stereotype. Not all these works follow a direct approach towards this goal of equality. It is only through such media that women believed a change was possible in the way they were perceived in society. 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For a cultural reading of The Handmaid’s Tale by Margaret Atwood, a cultural critic would consider the historical background paired with theories such as Marxism and feminism to make assumptions about what culture engendered the creation of this novel. (104 words) Cultural criticism is oftentimes affiliated with historical criticism, more specifically NewRead MoreThe Handmaid s Tale By Margaret Atwood1709 Words   |  7 Pagesfemale characters in Margaret Atwood’s novel demonstrates how these issues affects women’s lives. Offred is the individual with whom we sympathize and experience these issues. In The Handmaid’s Tale, Margaret Atwood addresses her perception of the ongoing feminism issues during her time; reproduction rights, workforce inequalities and gender discrimination. Atwood uses her talent to write The Handmaid Tale to express her view on past, present, and future women’s issues. Margret Atwood was born in 1939Read MoreFeminism And The Feminist Theory1942 Words   |  8 Pages ¬Ã‚ ¬Olivia Fogel Mr. Bumiller AP Literature and Composition 10 June 2015 Feminist Theory Research Paper Though feminism and the feminist theory are often construed as the same philosophy, the two are related, yet different concepts. Feminism is defined as, â€Å"the theory of the political, economic, and social equality of the sexes† (Merriam Webster Dictionary). In turn, a feminist is an individual who believes that men and women should be equal politically, economically, culturally, and socially (DefinitionsRead MoreFeminism in Top Girls and The Handmaids Tale Essay1635 Words   |  7 PagesBoth Top Girls and The Handmaid’s Tale relate to contemporary political issues and feminism. Top Girls was written by Caryl Churchill, a political feminist playwright, as a response to Thatcher’s election as a first female British Prime Minister. Churchill was a British social feminist in opposition to Thatcherism. Top Girls was regarded as a unique play about the challenges working women face in the contemporary business world and society at large. Churchill once wrote: â⠂¬ËœPlaywrights don’t give answersRead MoreMargaret Atwood Spotty Handed Villainesses1879 Words   |  8 PagesMARGARET ATWOOD: â€Å"SPOTTY-HANDED VILLIANESSES: PROBLEMS OF FEMALE BAD BEHAVIOUR IN THE CREATION OF LITERATURE† BUI CONTEXT Margaret Atwood is once of Canada’s best known literary composers. She is best known for her ability as an author of novels such as Alias Grace, Bodily Harm, Hairball, Rape Fantasies, and the highly acclaimed The Handmaid’s Tale, which was later made into a movie. These works establish her as a feminist writer, raising issues of women in literature, the difficulties associated

Biography of Emilio Aguinaldo, Filipino President

Emilio Aguinaldo y Famy (March 22, 1869–February 6, 1964) was a Filipino politician and military leader who played an important role in the Philippine Revolution. After the revolution, he served as the new countrys first president. Aguinaldo later commanded forces during the Philippine-American War. Fast Facts: Emilio Aguinaldo Known For: Aguinaldo served as the first president of the independent Philippines.Also Known As: Emilio Aguinaldo y FamyBorn: March 22, 1869 in Cavite, PhilippinesParents: Carlos Jamir Aguinaldo and Trinidad Famy-AguinaldoDied: February 6, 1964 in Quezon City, PhilippinesSpouse(s): Hilaria del Rosario (m. 1896–1921), Marà ­a Agoncillo (m. 1930–1963)Children: Five Early Life Emilio Aguinaldo y Famy was the seventh of eight children born to a wealthy mestizo family in Cavite on March 22, 1869. His father Carlos Aguinaldo y Jamir was the town mayor, or gobernadorcillo, of Old Cavite. Emilios mother was Trinidad Famy y Valero. As a boy, he went to elementary school and attended secondary school at the Colegio de San Juan de Letran, but had to drop out before earning his high school diploma when his father passed away in 1883. Emilio stayed home to assist his mother with the familys agricultural holdings. On January 1, 1895, Aguinaldo made his first foray into politics with an appointment as Cavites capitan municipal. Like fellow anti-colonial leader Andres Bonifacio, he also joined the Masons. Philippine Revolution In 1894, Andres Bonifacio himself inducted Aguinaldo into the Katipunan, a secret anti-colonial organization. The Katipunan called for the removal of Spain from the Philippines by armed force if necessary. In 1896 after the Spanish executed Jose Rizal, the voice of Filipino independence, the Katipunan started their revolution. Meanwhile, Aguinaldo married his first wife, Hilaria del Rosario, who would tend to wounded soldiers through her Hijas de la Revolucion (Daughters of the Revolution) organization. While many of the Katipunan rebel bands were ill-trained and had to retreat in the face of Spanish forces, Aguinaldos troops were able to out-fight the colonial troops even in a pitched battle. Aguinaldos men drove the Spanish from Cavite. However, they came into conflict with Bonifacio, who had declared himself president of the Philippine Republic, and his supporters. In March 1897, the two Katipunan factions met in Tejeros for an election. The assembly elected Aguinaldo president in a possibly fraudulent poll, much to the irritation of Bonifacio. He refused to recognize Aguinaldos government; in response, Aguinaldo had him arrested two months later. Bonifacio and his younger brother were charged with sedition and treason  and were executed on May 10, 1897, on Aguinaldos orders. Internal dissent seems to have weakened the Cavite Katipunan movement. In June 1897, Spanish troops defeated Aguinaldos forces and retook Cavite. The rebel government regrouped in Biyak na Bato, a mountain town in Bulacan Province, northeast of Manila. Aguinaldo and his rebels came under intense pressure from the Spanish  and had to negotiate a surrender later that same year. In mid-December 1897, Aguinaldo and his government ministers agreed to dissolve the rebel government and go into exile in Hong Kong. In return, they received legal amnesty and an indemnity of 800,000 Mexican dollars (the standard currency of the Spanish Empire). An additional 900,000 Mexican dollars would indemnify the revolutionaries who stayed in the Philippines; in return for surrendering their weapons, they were granted amnesty and the Spanish government promised reforms. On December 23, Aguinaldo and other rebel officials arrived in British Hong Kong, where the first indemnity payment of 400,000 Mexican dollars was waiting for them. Despite the amnesty agreement, the Spanish authorities began to arrest real or suspected Katipunan supporters in the Philippines, prompting a renewal of rebel activity. Spanish-American War In the spring of 1898, events half a world away overtook Aguinaldo and the Filipino rebels. The United States naval vessel USS Maine exploded and sank in Havana Harbor, Cuba, in February. Public outrage at Spains supposed role in the incident, fanned by sensationalist journalism, provided the United States with a pretext to start the Spanish-American War on April 25, 1898. Aguinaldo sailed back to Manila with the U.S. Asian Squadron, which defeated the Spanish Pacific Squadron in the Battle of Manila Bay. By May 19, 1898, Aguinaldo was back on his home soil. On June 12, 1898, the revolutionary leader declared the Philippines independent, with himself as the unelected president. He commanded Filipino troops in the battle against the Spanish. Meanwhile, close to 11,000 American troops cleared Manila and other Spanish bases of colonial troops and officers. On December 10, Spain surrendered its remaining colonial possessions (including the Philippines) to the United States in the Treaty of Paris. Presidency Aguinaldo was officially inaugurated as the first president and dictator of the Philippine Republic in January 1899. Prime Minister Apolinario Mabini headed the new cabinet. However, the United States refused to recognize the new independent government. President William McKinley claimed that doing so would be at odds with the American goal of Christianizing the (largely Roman Catholic) people of the Philippines. Indeed, although Aguinaldo and other Filipino leaders were unaware of it initially, Spain had handed over direct control of the Philippines to the United States in return for $20 million, as agreed to in the Treaty of Paris. Despite rumored promises of independence made by U.S. military officers eager for Filipino help in the war, the Philippine Republic was not to be a free state. It had simply acquired a new colonial master. Resistance to American Occupation Aguinaldo and the victorious Filipino revolutionaries did not see themselves as the Americans did, as half-devil or half-child. Once they realized they had been tricked and were indeed new-caught, the people of the Philippines reacted with outrage. On January 1, 1899, Aguinaldo responded to the American Benevolent Assimilation Proclamation by publishing his own counter-proclamation: My nation cannot remain indifferent in view of such violent and aggressive seizure of a portion of its territory by a nation which has arrogated to itself the title Champion of Oppressed Nations. Thus it is that my government is disposed to open hostilities if the American troops attempt to take forcible possession. I denounce these acts before the world in order that the conscience of mankind may pronounce its infallible verdict as to who are the oppressors of nations and the oppressors of mankind. Upon their heads be all the blood which may be shed! In February 1899, the first Philippines Commission from the United States arrived in Manila to find 15,000 American troops holding the city, facing off from trenches against 13,000 of Aguinaldos men, who were arrayed all around Manila. By November, Aguinaldo was once again running for the mountains, his troops in disarray. However, the Filipinos continued to resist this new imperial power, turning to guerrilla war after conventional fighting failed them. For two years, Aguinaldo and a shrinking band of followers evaded concerted American efforts to locate and capture the rebel leadership. On March 23, 1901, however, American special forces disguised as prisoners of war infiltrated Aguinaldos camp at Palanan on the northeast coast of Luzon. Local scouts dressed in Philippine Army uniforms led General Frederick Funston and other Americans into Aguinaldos headquarters, where they quickly overwhelmed the guards and seized the president. On April 1, 1901, Aguinaldo formally surrendered and swore allegiance to the United States. He then retired to his family farm in Cavite. His defeat marked the end of the First Philippine Republic, but not the end of the guerrilla resistance. World War II Aguinaldo continued to be an outspoken advocate of independence for the Philippines. His organization, the Asociacion de los Veteranos de la Revolucion (Association of Revolutionary Veterans), worked to ensure that former rebel fighters had access to land and pensions. His first wife Hilaria died in 1921. Aguinaldo married for a second time in 1930 at the age of 61. His new bride was 49-year-old Marà ­a Agoncillo, the niece of a prominent diplomat. In 1935, the Philippine Commonwealth held its first elections after decades of American rule. Then 66, Aguinaldo ran for president  but was soundly defeated by Manuel Quezon. When Japan seized the Philippines during World War II, Aguinaldo cooperated with the occupation. He joined the Japanese-sponsored Council of State  and made speeches urging an end to Filipino and American opposition to the Japanese. After the United States recaptured the Philippines in 1945, the septuagenarian Aguinaldo was arrested and imprisoned as a collaborator. However, he was quickly pardoned and released, and his reputation was not too severely tarnished. Post-War Era Aguinaldo was appointed to the Council of State again in 1950, this time by President Elpidio Quirino. He served one term before returning to his work on behalf of veterans. In 1962, President Diosdado Macapagal asserted pride in Philippine independence from the United States by making a highly symbolic gesture; he moved the celebration of Independence Day from July 4 to June 12, the date of Aguinaldos declaration of the First Philippine Republic. Aguinaldo himself joined in the festivities, although he was 92 years old and rather frail. The following year, before his final hospitalization, he donated his home to the government as a museum. Death On February 6, 1964, the 94-year-old first president of the Philippines passed away from coronary thrombosis. He left behind a complicated legacy. Aguinaldo fought long and hard for independence for the Philippines and worked tirelessly to secure veterans rights. At the same time, he ordered the execution of his rivals—including Andres Bonifacio—and collaborated with the brutal Japanese occupation of the Philippines. Legacy Although Aguinaldo is today often heralded as a symbol of the democratic and independent spirit of the Philippines, he was a self-proclaimed dictator during his short period of rule. Other members of the Chinese/Tagalog elite, such as Ferdinand Marcos, would later wield that power more successfully. Sources â€Å"Emilio Aguinaldo y Famy.†Ã‚  Emilio Aguinaldo y Famy - The World of 1898: The Spanish-American War (Hispanic Division, Library of Congress).Kinzer, Stephen. The True Flag: Theodore Roosevelt, Mark Twain, and the Birth of American Empire. St. Martins Griffin, 2018.ï » ¿Ooi, Keat Gin.  Southeast Asia a Historical Encyclopedia, from Angkor Wat to East Timor. ABC-CLIO, 2007.Silbey, David.  A War of Frontier and Empire: the Philippine-American War, 1899-1902. Hill and Wang, 2007.

Hamlet, By William Shakespeare Essay - 1636 Words

Elisabetta Veltri Period 3 Mr. Levine English 101 Research Paper Hamlet Hamlet is categorized as one of the greatest plays ever written. In the play the main character Prince Hamlet has a very complicated character. As the play goes along Hamlet displays a wide range of emotions through his actions and his words. With doing this, it creates controversy amongst the critics and readers of the play. They find it difficult to come to a conclusion of whether Hamlet s â€Å"madness† is sincere or if he is simply a fake. However there is evidence in order to support one side of this debate. The answer simply lies in the actor s performance. In William Shakespeare’s tragedy, Hamlet, it is clearly evident Prince Hamlet is feigning madness in an effort to outsmart his enemies and avenge his father’s murder. Hamlet is distinctly pretending to have lost a grip on his own life. â€Å"There need be no doubt, then, that Hamlet s madness was really feigned† (Crawford).Throughout the entirety of the play many of the other characters such as Polonius question Hamlet s mental state. They are unsure whether he is acting crazy or if he has really gone insane. Polonius states â€Å"Though this be madness, yet there is method in t.†(Act 2, Scene 2), Polonius suggests that, even though Hamlet sounds crazy, he actually makes sense or he has a method. Polonius believes Hamlet is acting â€Å"mad† because his love of Ophelia has driven him to such a state. While Polonius is correctShow MoreRelatedHamlet, By William Shakespeare880 Words   |  4 PagesWilliam Shakespeare is praised as the pioneering English poet and playwright whose collection of theatrical works is regarded as the greatest artistic value throughout the history of English literature. Shakespeare delved into the spiritual and mental component of humanity and the consequences that arise from this human spirit when it is disputed. The most famous revenge tragedy play, Hamlet, is an excellent illustration of Shakespeare’s philosophical study of human nature. In Hamlet, the arguableRead MoreHamlet, By William Shakespeare899 Words   |  4 PagesWilliam Shakespeare, author of Hamlet, was a well-known author in the 1500s and is still popular today. He was born on April 24, 1564 in London, England. Although there were no birth records at that time, it shows he was baptized one year prior to that, which leads us to believe his birthday was in 1564 because children were normally baptized a year after their birth. Shakespeare’s writing style was very different than others at that time. He used many metaphors and rhetorical phrases, and most ofRead MoreHamlet, By William Shakespeare996 Words   |  4 PagesHamlet, written by William Shakespeare, with out a doubt holds the most famous soliloquy in English history spoken by Hamlet in Act III, scene i, lines 57-90. This soliloquy holds much importance to the play as a whole because it ties together the reoccurring themes of suicide and Hamlet’s inaction portrayed by S hakespeare. Hamlet poses a problem, which is the driving force of the play: â€Å"To be or not to be?†(III.i.57). Shakespeare uses this logical question asked by Hamlet to drive out his underlyingRead MoreHamlet, By William Shakespeare1178 Words   |  5 Pages In William Shakespeare’s play Hamlet, the protagonist suffers from struggles with major characters, especially with the women in his life. While reading the play Hamlet, Hamlet appears to be a disillusioned man. Throughout the play, Shakespeare has only casted two females: Gertrude and Ophelia. Gertrude is defined to be incestuous, naà ¯ve and cold-hearted. On the other side, Ophelia is characterized to be ignorant, innocent and fearful. After the quick marriage of his mother and evil uncle, Hamlet’sRead MoreHamlet, By William Shakespeare1308 Words   |  6 PagesHamlet is arguably one of the greatest tragedies in all of literature and when most people think of tragic plays, they think of none other than the one who wrote it, William Shakespeare. This classic story of revenge excites it’s readers with its main character, Prince Hamlet, who goes through the unique human-like process of revenge that is often overlooked. Many other stories rely heavily on the logi c of good people doing good things and bad people doing bad things just for the sake of their natureRead MoreHamlet, By William Shakespeare Essay1453 Words   |  6 PagesHamlet by William Shakespeare explores many aspects of mankind--death, betrayal, love, and mourning. 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A result from this isolation leads Hamlet to become melancholy. Hamlet struggles with suicidal thoughts, wants to kill King Claudius, and is distraught over his mother’sRead MoreHamlet, By William Shakespeare846 Words   |  4 Pagesalways been a contemplative topic. In Hamlet, the main character Hamlet thinks to himself about suicide. Hamlet was written by William Shakespeare. Shakespeare wrote Hamlet between 1599 and 1602. William Shakespeare is one of the greatest playwrights in history. Hamlet is about Prince Hamlet of Denmark who is trying to find out about the death of his father after his father s ‘ghost’ comes to him telling him it was his uncle who had killed him. While Hamlet contemplates suicide he gives his famous

Impact of the Oil and Gas Exploration

Question: Discuss the impact of the Oil and Gas exploration. Answer: The essay discusses the impact of the Oil and Gas exploration, production and distribution on the environment. In particular, the essay discusses the impact of activities undertaken by oil and gas industries on the water pollution. The essay has also discussed the measure that can be taken to minimize water pollution caused by oil and gas industries. Since the discovery of crude oil, it has huge impact on the civilization and with the advent of industrial revolution and until today is the single most sought after natural resource (Nissen et al. 2014). Oil has become the driving force for the development of economy for every country. Many of the economy are running on the revenues earned from petroleum and it has been the centre stage for many modern day wars. Although, most of the countries depend on the oil and gas for its energy needs and actively produce or take part in petroleum trade activities, to boost their economy; these practices have cause serious damage to the environment either intentionally or unknowingly. One of the major problems linked with this dependency on oil is the extremely destructive effects that extraction, production and distribution have on the environment (Merrill and Schizer 2013). Environment pollution by oil and gas industries activities has caused significant damage to the environment by oil waste dumping into the ground, pollution during the production process, oil spills, gas flaring, etc. It has affected the surrounding wildlife and natural habitat for many species. The source of pollution in the oil and gas industry is entangled in all the stages of exploration, extraction process, storage and transportation of petroleum oil. It may be due to release of pollutants correlated with the oil and gas industry into the environment. The major causes of oil spills are flow lines and pipeline leakages. Blowouts from wellheads due to inadequate maintenance and oil spills from flow stations also contribute to marine pollution (Chu and Majumdar 2012). Oil spills releases hazardous hydrocarbons into the environment. These spills affect vast stretches of ocean beds adversely affecting the marine life. Mangrove forests are particularly affected by the oil spills as they have a tendency to absorb oil and then rerelease it every rainy season, thereby magnifying the impact of pollution. In the due process, the efficiency of mangrove trees in photosynthesis decreases the trees subsequently withers and dies. Mangroves are important for ecosystem in many as they acts as buffer between land and sea and helps in protecting soil erosion in coastal areas; in addition mangroves also acts as a breeding ground for many species. Another source of water pollution by oil and gas exploration is the discharge of effluents into the water bodies (Jackson 2014). In the process of exploration, activities like cuttings and drilling, mud and fluids are used for stimulating production. Chemicals are also used in seismic activities that are harmful for the environment. The key constituents of drill cuttings when discarded onto the ground restrict native plant growth and in the water bodies, these materials disperses, sinks, and may kill plants and animals living at the bottom. The dumping of wastes in the sea from oil facilities is directly linked with the fish stocks (Vidic et al. 2013). Exploratory drilling results in gas venting and flaring which causes natural hazards and risks in the form of well blowouts, localized land subsidence and land and water contamination. Exploratory drilling and production method requires drilling and cutting activities that releases contaminated water and toxic spillages into the marine ecosystem. It causes surface water pollution in the form of creating a layer above the surface of water, this phenomenon is known as interphase. Drilling activities by oil and gas industry disrupts ground water systems and flows in the form of hydraulic fracturing (Rahm et al. 2013). These activities results in climate change in the form of extreme weather conditions, rise in sea level, temperature rise and reduced water availability. In the refining of crude oil, huge quantity of water is used that makes the water unsuitable for consumption or agricultural uses and is discharged in the water bodies that further pollutes the water resources. Pollution of underground water caused by oil and gas explorations is serious threat. Oil spills, effluent discharges seeps into the soil and contaminates the underground water (Olmstead et al. 2013). Oil and gas resources procures a lot of revenues for the government, therefore, the environmental concerns are often being violated by the companies. The impact of ecological imbalance and the phenomenon of global warming have forced the governments and the companies to adopt a sustainable development path as the problem is not for only for a particular country or geographical region but is a matter of concern for the whole world. The activities of Oil and Gas industry have to adopt sustainable development both socially and environmentally (Bamberger and Oswald 2012). Oil and gas industry requires vast quantities of water in the refining stage of petroleum and thereby contaminates water in the form of effluents, wash water and cooling water discharges (Davies et al. 2014). Contamination of water due to water effluents that are rich in inorganic salts renders the water unsuitable for livestock usages. This situation can be avoided if the oil company they install water treatment facility near the petroleum refining centre and discharge the water into the water bodies such as rivers or ocean after proper treatment. In addition, the treated water can be reused by the oil and gas industry to minimize water wastages and subsequent pollution of water (Rozell and Reaven 2012). The effluents produces in the process of refining contains inorganic salts that non-biodegradable and hazardous for the aquatic ecosystem therefore it is necessary for the refining companies to treat these effluents with neutralization agents before discharging into the water bodies. The process of aeration, flocculation, oil separation, carbon absorption, reverse osmosis, bio treating, etc, must be employed for treating wastewaters before discharging it into the water bodies. Wastewaters discharged from the refining facilities are of high temperature than that of the receiving water bodies this causes thermal pollution (Warner et al. 2013). Discharge of liquid effluents into the water bodies must conform to the standards determined by laws and regulations of each country. Solid wastes that have a tendency to seep due to rains must be kept in closed and isolated containers to prevent contamination of ground water and surface water bodies by the drainage process (deMelo 2014). Avoid oil spills through better pipeline management, introduction of reinjection techniques and halting methane flaring. Investment should be made on Research and development activities to find better and sustainable sources of energy. Government must act to decrease dependency on petroleum and provide incentives to encourage the use of renewable and greener sources of energy, focus on achieving fuel efficiency and fuel conservation (Merrill and Schizer 2013). Specific measures can be to reduce the impact on environment from oil and gas production. In order to identify and implement mitigation measures, it is important to analyze potential negative impact on the environment. Then project and location of the project must be must be evaluated from all aspects i.e. financial, social, environmental to determine whether the project can be executed following the sustainability principle and minimizing the damage of the environment (Vengosh et al. 2014). Many of the water pollution issues can be avoided by adopting appropriate mitigation measures. Most of the water related issues in oil and gas industry is associated with project footprint as soil erosion, changes in water runoff patterns, contamination of underground water, harm of marine biodiversity, oil spills, etc. Many of these issues can be avoided if the companies act responsibly and develop project following the principles of sustainability at the designing stage of the project and predetermining the measures to avoid environmental damage (Murray 2013). The oil and gas companies need to adopt proactive approach in their business instead of reactive approach, because the impacts of mismanagement of the operations or activities usually have major impact on the environment (Olmstead et al. 2013). Various steps that an oil and gas company can adopt to minimize the damage of water bodies may include identifying and avoiding unstable slopes to protect ground water conditions, seismic activity and geologic structure. Proper research of local hydrogeology in order to identify areas of ground water discharge and recharge and the relationships between surface water bodies and ground water quality (Ferrar et al. 2013). It is important not to build conduit between two water bodies; discharge of untreated effluents to the local water bodies, rivers, wetlands must be avoided as these water bodies; use of special construction techniques to avoid water runoffs and using existing drainage systems in sensitive areas such as erodible soils and steep slopes. It is important to minimize the impact on environment at all the stages of oil exploration to retailing to be able to develop sustainably (Carson et al. 2013). The oil and gas companies are regulated by various laws to protect the environment from unchecked exploration, production and distribution activities of petroleum industries. However, due to the negligence either on the part of government or the oil companies to comply with these laws has caused severe damage to the environment. For instance, the petroleum exploration in Nigeria led to large-scale violations of environment laws and the government did nothing to address the issue rather it acted as a partner of oil companies, also the oil spill by BP had hugely impacted the marine ecosystem. Therefore, to address these issues it is important to build a centralized, global and autonomous body look into the affairs of oil and gas companies and defining guidelines for the petroleum industries. It is important to demark ecologically sensitive areas and restrict the activities of oil and gas companies on those areas. In addition, it is important to search for greener sources of energy and reduce the dependency on petroleum. The government needs to invest heavily on the research and development of finding alternative sources of energy and build infrastructure to reduce the usage of oil and gas. The oil companies also have the responsibility to restore the environment damaged by their activities and take step to reduce its footprints on the environment. Usage of efficient technology and equipments, proper maintenance of pipelines, waste disposable mechanisms has to be adopted and followed rigorously. With the use of technology that has been made available to in the recent years, oil and gas companies can minimize pollution and can contribute in making a cleaner environment. Some of these technologies are Green Completions that helps in capturing the leaked natural gas from the well and makes available for use; Plunger Lift System is used to remove the blockages from the oil wells formed from liquid accumulation and increases the efficiency, some of the other technologies include pipeline maintenance and repair systems, TEG dehydrator emission control, desiccant dehydrators, dry seal systems, automated leak monitoring and repair mechanisms etc. With the inclusion of these technologies oil and gas pollution can be contained and it also saves precious natural resources (Olmstead et al. 2013). It can be concluded from the above discussion, that externalities of oil and gas exploration and production have resulted in profound adverse effect on the environment. The level of pollution caused by oil and gas companies has increased considerably and has diluted the quality of air, water, soil, etc. Oil and gas industry has significantly contributed in water pollution; the water bodies including fresh water sources to oceans have been polluted by the activities of oil and gas companies. The fresh water sources such as rivers, lakes or underground water reserves near the exploration, production or distribution centers have a poor quality of water. In addition, the offshore activities of oil and gas companies in the deep sea have polluted the ocean water and have posed huge risks for the fragile marine ecosystem. Therefore, it is important for the oil companies to understand the harmful effects of pollution caused by their activities and develop business models on the principles of environmental sustainability using modern techniques and equipments to minimize the damage on the environment. References Bamberger, M. and Oswald, R.E., 2012. Impacts of gas drilling on human and animal health. New solutions: a journal of environmental and occupational health policy, 22(1), pp.51-77. Carson, R., Conaway, M.B., Hanemann, W.M., Krosnick, J.A., Mitchell, R.C. and Presser, S., 2013. Valuing oil spill prevention: a case study of Californias central coast (Vol. 5). Springer Science Business Media. Chu, S. and Majumdar, A., 2012. Opportunities and challenges for a sustainable energy future. nature, 488(7411), pp.294-303. Davies, R.J., Almond, S., Ward, R.S., Jackson, R.B., Adams, C., Worrall, F., Herringshaw, L.G., Gluyas, J.G. and Whitehead, M.A., 2014. Oil and gas wells and their integrity: Implications for shale and unconventional resource exploitation. Marine and Petroleum Geology, 56, pp.239-254. de Melo-Martn, I., Hays, J. and Finkel, M.L., 2014. The role of ethics in shale gas policies. Science of the Total Environment, 470, pp.1114-1119. Ferrar, K.J., Michanowicz, D.R., Christen, C.L., Mulcahy, N., Malone, S.L. and Sharma, R.K., 2013. Assessment of effluent contaminants from three facilities discharging Marcellus Shale wastewater to surface waters in Pennsylvania. Environmental science technology, 47(7), pp.3472-3481. Jackson, R.B., 2014. The integrity of oil and gas wells. Proceedings of the National Academy of Sciences, 111(30), pp.10902-10903. Jenner, S. and Lamadrid, A.J., 2013. Shale gas vs. coal: Policy implications from environmental impact comparisons of shale gas, conventional gas, and coal on air, water, and land in the United States. Energy Policy, 53, pp.442-453. Merrill, T.W. and Schizer, D.M., 2013. The shale oil and gas revolution, hydraulic fracturing, and water contamination: a regulatory strategy. Columbia Law and Economics Working Paper, (440). Murray, K.E., 2013. State-scale perspective on water use and production associated with oil and gas operations, Oklahoma, US. Environmental science technology, 47(9), pp.4918-4925. Nissen-Lie, T.R., Brude, O.W., Aspholm, O.O., Taylor, P.M. and Davidson, D., 2014, May. DEVELOPING A GUIDELINE FOR OIL SPILL RISK ASSESSMENT AND RESPONSE PLANNING FOR OFFSHORE INSTALLATIONS. In International Oil Spill Conference Proceedings (Vol. 2014, No. 1, pp. 314-327). American Petroleum Institute. Olmstead, S.M., Muehlenbachs, L.A., Shih, J.S., Chu, Z. and Krupnick, A.J., 2013. Shale gas development impacts on surface water quality in Pennsylvania. Proceedings of the National Academy of Sciences, 110(13), pp.4962-4967. Rahm, B.G., Bates, J.T., Bertoia, L.R., Galford, A.E., Yoxtheimer, D.A. and Riha, S.J., 2013. Wastewater management and Marcellus Shale gas development: trends, drivers, and planning implications. Journal of environmental management, 120, pp.105-113. Rozell, D.J. and Reaven, S.J., 2012. Water pollution risk associated with natural gas extraction from the Marcellus Shale. Risk Analysis, 32(8), pp.1382-1393. Vengosh, A., Jackson, R.B., Warner, N., Darrah, T.H. and Kondash, A., 2014. A critical review of the risks to water resources from unconventional shale gas development and hydraulic fracturing in the United States. Environmental science technology, 48(15), pp.8334-8348. Vidic, R.D., Brantley, S.L., Vandenbossche, J.M., Yoxtheimer, D. and Abad, J.D., 2013. Impact of shale gas development on regional water quality. Science, 340(6134), p.1235009. Warner, N.R., Christie, C.A., Jackson, R.B. and Vengosh, A., 2013. Impacts of shale gas wastewater disposal on water quality in western Pennsylvania. Environmental science technology, 47(20), pp.11849-11857.

SWOT/PEST (LE) Analysis on Cadburys PLC

Introduction Cadbury is the brand of a reputable confectionary company with a diverse assortment of chocolates, gum and candy. The company’s kernel stretches back to 1824 when the company’s pioneer, John Cadbury opened a chocolate shop in Birmingham (Watson 6). Currently, the company is dominant in the chocolate business and boasts an extended global presence and influence. On May 7, 2008, the American beverage businesses sector and the confectionary sector completed their separation and Cadbury became Cadbury PLC.Advertising We will write a custom report sample on SWOT/PEST (LE) Analysis on Cadburys PLC specifically for you for only $16.05 $11/page Learn More SWOT Analysis Of Cadbury Plc SWOT analysis is a calculative strategic technique used in organizational planning to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business project or the business as a whole. SWOT analysis entails the identification of targ ets of a project or a business venture. Once identified, the process in achieving the targets is examined together with the interior and peripheral influences that affect the process leading to favorable or unfavorable achievement of the target. In analyzing Cadbury PLC, it is imperative to study the organization’s performance against a similar scale to that of the competition (Leikin 3). The competitors in this case are other confectionary companies like Nestle which have over the years challenged Cadbury PLC. Strengths Of Cadbury Plc The first strength Cadbury PLC has is the advantage of numbers considering the organization has business units all over the world. The units are present in Britain, Ireland, Middle East, Africa, north and South America, Europe, Asia and the pacific (King 1). All the units have commercial inclinations as their principle driving force, but the units also do have supply chain and science and technology functions. The interior organization of Cadbu ry PLC creates room for four corporate functions in all the units. The functions are human resource corporate affairs, strategy, information technology, legal and secretariat. This kind of functional structure allows for the business units to focus on commercial programs while aiming at internal growth (Leikin 1). Cadbury PLC also has the advantage of having internationally well known and respected brand names. The goodwill of the brands generates approximately 50% of the organization’s revenue and this implies that the brand bears higher profitability than the confectionary collection. Weaknesses Of Cadbury Plc One of the organization’s unyielding weaknesses is the reliance on confectionary market for profitability. Other companies with a similar target market to that of Cadbury PLC for instance Nestle have more diverse products including but not limited to confectionary products, baby foods, and cereals among others (Leikin 1). Cadbury has also been mainly Europe ba sed for a long time and only recently diversified into massive consumer markets like America. In comparison, other confectionary companies of Cadbury PLC’s caliber have diversified their target markets and can be found in almost all major international consumer markets hence gaining leverage over Cadbury (Rosenfeld 9).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Opportunities The confectionary market is the fastest growing packed food market with a 5% p.a growth rate meaning Cadbury still has various unexploited markets like China, India and Russia where consumer wealth is increasing directly proportional to the population(Miller 16). There is also increased demand of confectionary products in such growing markets. The confectionary industry has over the recent years witnessed several successful mergers and acquisitions. Targeted acquisition will increase the market share and pr oduct diversification. There is an increased demand for healthier low calories snacks which could lead to new products for instance organic snacks, sugar free snacks or low fat confectionary products crating room for innovation (Miller 1). Threats There is a rising occurrence of obesity in both adults and children which has led to increased weight watching and need for healthy foods and lifestyle. The social changes in nutrition and lifestyle have definitely affected the demand of Cadbury products (Watson 1). Aggressive competition from other confectionary organizations in developed markets has led to possible price wars between the companies (Leikin 1). The global demand for cost reductions in environment, transport, energy and supply has threatened to incapacitate the operational structure of Cadbury PLC (Rosenfeld 4). Pest(le) Analysis Of Cadbury Plc In The U.K PEST (LE) analysis is the strategic analysis of the comprehensive peripheral conditions surrounding a business operation . Such conditions are normally above the control or influence of the business, but bear pivotal influence on the outcome of product development, business planning and strategy. They include: Political Conditions A number of MPs fear jobs will be lost if Cadbury shareholders accept an 11.5 billon pound offer from Kraft foods in a take over bid. Cadbury currently employ 2,500 individuals at its factory at Bourneville in Birmingham and a further 1200 in Herefordshire (King 11). The MPs further view the take over by Kraft as a threat to the creativity of Cadbury employees and innovation of the West Midlands. The MPs are not happy with the fact that Kraft has its base in Illinois meaning decisions will be made based on factors in Illinois not West Midlands (Rosenfeld 9). Such political interferences are likely to influence the public and elicit angry reactions from both the employees and members of the public (Watson 6). However, The Competition Act of 2000 stops interference by the gove rnment on the basis of public interest in cases such as this (Watson 3).Advertising We will write a custom report sample on SWOT/PEST (LE) Analysis on Cadburys PLC specifically for you for only $16.05 $11/page Learn More Economic Conditions Current economic conditions in the U.K are rife for successful operation of the confectionary industry. The global economic downturn is reversing and many companies are now able to secure resources and support production (Rosenfeld 5). Cadbury PLC was not that stable economically during the global recession and had to bid its shares in the international market. Kraft foods, a U.S based company proposed to take over Cadbury and offered a relatively high bid for it. Hence, even though the current economic conditions are stable, the preceding economic conditions were detrimental to Cadbury leading to massive debt eventually leading to the take over bid/ merger (Miller 16). Social Conditions There has been an exponential growth in the occurrences of obesity cases in the U.K as well as obesity related illnesses both in children and adults. Health and fitness experts in the U.K are warning that if society does not change their eating habits by the year 2025, one in three deaths will be weight related (Miller 8). Such observations have stirred sharp adjustments in the eating habits and lifestyles of the general public. Confectionary products are considered high in calories and the social attitude towards such products is changing meaning the public is more interested in organic foods and confectionaries are now being considered attributes to obesity. TechnologyAdvertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Cadbury PLC considers technological advancement as one of the key pillars of the company’s success through out the years. The company has a graduate program that is supported by technical training and the aim of the program is to encourage innovation (King 15). The company has realized several new production and processing methods through this program, like the candy churner and the chocolate whip which are advanced inventions for higher and faster production (Miller 5). Cadbury still falls behind the competition as far as diversification is concerned because they lack cereal making machines as wells as baby food technology (Miller 10). Conclusion Cadbury Plc has been a stable and successful confectionary company since its establishment in the mid nineteenth century. A SWOT analysis of the company has helped identify some of the strong points Cadbury Plc capitalized on to perpetuate global expansion. A potent weakness has also been revealed and that is the late entry into the American market, one of the largest consumer markets in the world. The PESTLE analysis examines the performance Cadbury Plc in the U.K relative to its environment. The recent merger which has come to be known as a hostile take over by the U.S based Kraft foods generated a lot of controversy. However, it is clear from the analysis that Cadbury Plc was undergoing tough economic conditions and Kraft’s intervention was timely though the operation strategies of the two companies differ greatly. Works Cited King, Leo. Kraft to slash  £430m costs a year with Cadbury integration. June 2010. 17 Feb 2010, from: https://www.computerworlduk.com/it-vendors/kraft-to-slash-430m-costs-a-year-with-cadbury-integration-18868/2/ Leikin, Peter. â€Å"Kraft’s Bid to Buy Cadbury Means It’s Time We Stopped Selling Off U.K Plc†. May 2009.   Web. Miller, Hudson. Kraft Foods Bites Back and Questions Cadbury’s Long Term Targets. Jan 2009. 17 Feb 2010 from: https://www.pr oactiveinvestors.co.uk/ Rosenfeld, Irene. Kraft Foods Inc. (‘Kraft Foods’) Statement Regarding Cadbury Plc (‘Cadbury’) and Us Competition Clearance. Sept 2009. Web. Watson, Nick. â€Å"Cadbury, Kraft and the politics of making chocolate.† Dec 2010. 17 Feb 2010 from: http://news.bbc.co.uk/2/hi/programmes/politics_show/regions/west_midlands/8468458.stm This report on SWOT/PEST (LE) Analysis on Cadburys PLC was written and submitted by user Eliseo Mcgowan 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.

Elizabeth Barrett Browning Essay Example

Elizabeth Barrett Browning Essay Example Elizabeth Barrett Browning Essay Elizabeth Barrett Browning Essay Elizabeth Barrett Browning and the role of the women In the Victorian age Introduction: Thesis: Women during the Victorian Age were restricted and limited to gender roles and expectations. Elizabeth Barrett Browning was the exception through her writings of poetry. Body Paragraphs: l. The history of the Victorian Age. A. Named after Queen Victoria 1. Considered one of the most glorious periods In British history. 2. The British Empire grew In sixes and Importance while being ruled by a woman. B. People began to describe this period through poetry 1 . Poetry expressed social injustice, repression, and adjustments. 2. Themes in poetry began to change also to link the Romantic period to modern poetry. II. Poetry makes a shift. A. Males had a different focus. 1. Denied women have the capacity or the position in society to write poetry. 2. Men thought women were only good for doing housework and caring for the children. B. Women poets expressed themselves mostly by writing. 1 . After breaking free from conceptual structures, the women became a wife, and the poets they wanted to be. 2. The finest love poets were written by female poets. Ill. Elizabeth Barrett Browning Impacted poetry. A. History of Elizabeth Barrett Browning. 1. Birth date, when began writing as a child. 2. Sustain injury as a child. B. Life challenges and accomplishments. 1. Her favorite brother died on July 1 1, 1840, causing her to loose focus on her poetry and stay in her room for 5 years. 2. Was recognized as one of Englands most original and gifted young poet. Conclusion: Elizabeth Barrett Browning had an enormous impact on women of the Victorian age. She helped paved the way for them to be their own people.

HBR article Coursework Example | Topics and Well Written Essays - 750 words

HBR article - Coursework Example In this way, much of the waste in time and money that is often associated with new product development is ameliorated. The article goes on to detail how Eli Lilly created a special team which was named â€Å"Chorus† whose sole purpose was to guide and direct research and development of new product lines based up on the metrics that have been previously related. Due to a strict adherence to the previous rubric, Eli Lilly was able to nearly double the amount of drug compounds that they developed between both 12 and 24 month periods. The article continues to describe the pitfalls that not employing such logic can provide to the overall process. Furthermore, the authors detail the situation that often arises where key leaders and shareholders ignore the obvious signs that a product line displays during development regarding its ability to succeed in the marketplace and yield a profit. Oftentimes, this is the result of the fact that management and/or key leaders have strong beliefs with respect to the overall viability of a given product and are therefore reticent to accept any proof that the line may result in eventual failure. Specific examples of such blind faith are given by the authors with relation to Ely Lilly’s drug tests that continued to send red flags to the development team; however, management continued to pour money down the rabbit hole with respect to continuing to fund the research. The authors discuss a secondary pitfall that many would-be product development teams suffer from. This secondary pitfall centers upon the fact that many product development teams terminate projects/products prematurely due to lack of evidence that the project/product has an overall likelihood to succeed. Although this can result from a number of factors, the authors note that the main reason results from an unclear and undifferentiated research process. For purposes of the analysis, the authors define one of the key components of success to relate to the con cept of POC (Proof of Concept). This relates the process that a firm can employ that provides a highly focused fast track path of research to determine whether or not the product has likelihood of overall success. In this way, targeted experiments can be rapidly employed to prove whether or not a product has an overall likelihood of success. Likewise, the authors note that determining overall project/product profitability is also a likely determinate that should be used in order to determine what level of time and funding should be provided to ensure that the project maintains the highest ability to produce a net profit. Similarly, the authors argue that product success can further be maximized by dividing the stages of product testing and development into early and late stages. By further defining the metrics with respect to what goals and tasks should be accomplished in the early and late stages, it is abundantly clear for product development where the product lies in terms of ove rall viability at any particular juncture of the process. In this way, the guess work is taken out of the process and long-term product developments that can turn into a multimillion dollar mistake are effectively weeded out. This novel approach is simplistic; however, it nonetheless works. Many firms have followed in

History of Cognitive Psychology Essay Example | Topics and Well Written Essays - 4000 words

History of Cognitive Psychology - Essay Example The contribution of early researchers under the guidance of cognitive behaviour made it possible to verify every research. They did not design a grand scheme to guide cognitive psychology through its development. Rather, early researchers applied insights from their immediate work to make initial headway. Their accomplishments were substantial and are reflected extensively in current work. (Barsalou, Lawrence.1992, p. 341) Modern psychology is initiated with the enhanced significance in cognition, which is unsceptical, as the same approach has been shared by all the researchers hitherto, which possess a solid ground of theoretical methodology. Cognitive psychology began to explore towards the end of the nineteenth century when in 1879 the first psychology laboratory was set up by Wilhelm Wundt at Leipzig. Wundt's research was mainly concerned with perception, including some of the earliest studies of visual illusions. Among one of the major studies on visual illusions was visual processing proposed by Mishkin in 1982. (Hahn, Martin, 1999, p. 71). In 1885 Hermann Ebbinghaus published the first experimental research on memory, and many subsequent researchers were to adopt his methods over the years that followed. Perhaps the most lasting work of this early period was a remarkable book written by William James in 1890, entitled Principles of Psychology. (Groome, David, 1999, p. 5). In this book James proposed a number of theories, which still remain acceptable to modern cognitive psychologists, including a theory distinguishing between short-term working memory and long-term storage memory. Watson (1913) Watson was the first cognitive psychologist to state the behaviourist position clearly as before Watson there was little progress in cognitive psychology in the early years due to the growing influence of behaviourism. Being the first influential figure, he maintained that psychologists should consider only observable variables such as the stimulus presented to the organism and any consequent response to that stimulus. He argued that they should not concern themselves with processes that they could not observe in a scientific manner, such as thought and conscious experience. The behaviourists were essentially trying to establish psychology as a true science, comparable in status with other sciences such as physics or chemistry. This was perhaps a worthy aim, but it had unfortunate consequences for the study of psychology for the next fifty years, as it had the effect of restricting experimental psychology mainly to the recording of externally observable responses. (Groome, David, 19 99, p. 5) Indeed, some behaviourists were so enthusiastic to explore beyond human experience that they never bothered to eliminate inner mental processes from their studies, which showed their eagerness to work on rats rather than on human subjects. No doubt, what experience a human being brings to a laboratory, nothing else can bring. B.F. Skinner (1938) Skinner, continued the classic work on the behaviourist approach, by training

Daiichi Sankyos Ranbaxy Acquisition Analysis

Daiichi Sankyos Ranbaxy Acquisition Analysis With the spiraling up healthcare charges and government expenditure on public healthcare, many developed countries are trying to promote generic drugs. The demand for generics is also complemented by wider access to healthcare in developing economies. This coupled with the expiry of many patented drugs around the corner, many brand name pharmaceutical companies tried to acquire generic drug companies, in this paper we try to analyze one such acquisition. On 11th June 2008, Daiichi Sankyo the third largest pharmaceutical company in Japan made an offer to buy control stake in Ranbaxy, the largest drug-maker by revenue in India. The purchase price of INR737 represented a premium of 53.5% over Ranbaxys average daily closing price on the National Stock Exchange for the three months ending on June 10, 2008 and 31.4% over closing price on June 10, 2008. In this paper we would analyze why Daiichi Sankyo must have picked Ranbaxy and Daiichis Strategy behind the acquisition. We also try to do the valuation of Ranbaxy at the acquisition time and whether Daiichi paid a hefty premium over its intrinsic value. Post-acquisition Daiichi Sankyos stock moved southwards, later in this paper we try to address this shareholder reaction. The acquisition was termed bad and Daiichi had a one-time writing down of $3.45 billion off its balance sheet. We also analyze what might have gone wrong in this cross-border transaction, issues such as lack of proper due-diligence on Daiichi Side and lack of transparency on Ranbaxy side. INTRODUCTION The pharmaceutical industry develops, produces, and markets drugs licensed for use as medications. Pharmaceutical companies can deal in generic and/or brand medications and medical devices. They are governed by a variety of geography specific laws and regulations regarding the patenting, testing and ensuring safety and efficacy and marketing of drugs. Its origins can be traced back to the nascent chemical industry of the late nineteenth century in the Upper Rhine Valley near Basel, Switzerland when dyestuffs were found to have antiseptic properties. Many of the modern pharmaceutical companies started out as Rhine-based family dyestuff and chemical companies e.g. Hoffman-La Roche, Sandoz, and Novartis etc. Over time many of these chemical companies entered into pharmaceuticals business and gradually evolved into global players. The industry expanded rapidly in the sixties, healthcare spending skyrocketed as global economies prospered in this period. In the seventies the industry evolved further with the introduction of tighter regulatory controls, especially with the introduction of regulations governing the manufacture of generics. The new regulations abolished permanent patents and allowed patent protection for branded products for fixed periods only, and a new competitive segment branded generics evolved in the pharmaceutical sp ace. With the patent expiries of many blockbuster drugs nearby and increasing demand for cheaper drugs, many pharmaceutical companies are trying to offer a generic drug portfolio as well. The fastest way to add this portfolio is the inorganic way; lets look at one such case wherein a Japanese Pharmaceutical giant acquired a large bracket Indian Generic drugs company. Daiichi Sankyo before Acquisition (Year ending March 2008) Daiichi Sankyo was Japans 3rd largest pharmaceutical company, established by the merger of Sankyo Co., Ltd. and Daiichi Pharmaceutical Co., Ltd in September 2005. Daiichi was mainly a brand, RD oriented pharmaceutical company with revenues of 880 billion yen ($8.8 billion) in FY 2007-08. The company was cash rich and had around ÂÂ ¥574 million in cash and cash equivalents. Its portfolio comprised of pharmaceuticals for hypertension, hyperlipidemia, and bacterial infections, the Group was also engaged in the development of treatments for thrombotic disorders and focused on the discovery of novel oncology and cardiovascular-metabolic therapies. With the shrinking Japanese market the company had a clear inclination towards overseas sales, the Overseas Sales/ Net Sales had steadily increased from 33% to 40% from 2005-2008, however markets other than the traditional Japan and North America were the ones which were showing real movement. The company clearly aimed to build Asia, South and Central America markets. Daiichi already had business operations in 21 countries and aimed to be a Global Pharma Innovator by 2015. In India they were already underway forming a Sales subsidiary. The Company also was trying to concentrate on its core pharmaceutical business by spinning off non-pharmaceutical businesses from the group. One of the mid to long-term goals of Daiichi was to increase its presence in novel therapeutics in oncology arena; on these lines they also acquired a German company named U3 Pharma AG. Ranbaxy before the Acquisition (Year Ending December 2007) Ranbaxy Laboratories Limited, Indias largest pharmaceutical company, was an integrated, research based, pharmaceutical company producing a wide range of quality, affordable generic medicines, used across geographies. The Company than served customers in over 125 countries and had an expanding international portfolio of affiliates, joint ventures and alliances, operations in 56 countries. Ranbaxys revenues and bottom lines were continiously on the rise since 2001, the RD expenses were stable around 6%. In FY 2007 the company had revenues of 69,822 million INR ($1.5billion) excluding other income. The earnings of the company were well diversified across the globe, however the emerging world contributed heavily to the revnues (Emerging 54%, Developed 40%, others 6%). However the Japan market, with low generics penetration contributed just $25 million to the top line. The company had just begun to re-orient its strategy in favour of the emerging markets. Ranbaxy had been on shopping spree in the previous year acquiring BeTabs South Africa, additional stake in Zenotech Laboratries, 14.9% in Jupiter Biosciences India and 13 Dermatalogy products from Bristoll Myers Squibb in the USA. The company was still open for acquisitions and growth through inorganic activities. To take advantage of the upcoming RD outsourcing story Ranbaxy also demerged the New Drug Discovery Research under Ranbaxy Life Science Research Limited (RLSRL). Ranbaxy also had developed great partnerships with companies focused on research and manufacturing in speciality and niche areas, two of which were collabrative research programs with Glaxo Smith Kline. Ranbaxy also had signed some exclsuive inlicensing aggrements with Global companies, Sirtex Australia being one of them.To optimize its First to File (FTF) opportunities and hence ensure the revenue flows, the company entered into 3 independent litigation settlments with GlaxoSmithKline (GSK) for Valacyclovir and Su matiptan and with Astellas Pharma for Tamsulosin. The company entered into segments such as Bio-generics, Oncology, Penems, Limuses, Peptides, etc. due to the high potential they offered. On the operational front too the company was aggressive and had reduced the working capital by almost 3% of sales. The company undertook the modernization and capacity expansion in plants in India, Romania, Malaysia, Nigeria and South Africa. The company also discontinued operations in some of their inefficient plants in India. The product, patent and API portfolio of the company was strong. The company made 526 product filings and received 457 approvals globally (Annexure A gives a detailed overview of the product, API and Patents in 2007). The company also continued its effort to develop effective herbal drugs that could comply with international quality standards. The Deal On 11th June 2008, Daiichi Sankyo made an offer to purchase more than 50.1% voting right in Ranbaxy which included 34.83% stake of promoters, preferential shares and an open offer. Daiichi offered a share price of INR 737 with a transaction value of around $4.6 billion, valuing Ranbaxy at $8.5 billion. Daiichi ended up acquiring 63.92% shares of Ranbaxy by Nov, 2008 (details are provided in Annexure B). Including transaction costs the deal costed Daiichi $4.98 billion (details are provided in Annexure C) and they recorded goodwill of $4.17billion (details are provided in Annexure D). For Daiichi Sankyo, in addition to the traditional high-risk/high-return business model employed in developed-country markets, Ranbaxys generic business model would help them build a hybrid business model with a mix of patented and generic drugs. The deal also required the current CEO/Promoter Malvinder Singh to stay with the company for 5 years. The deal financing was through a mix of debt and existing cash resources of Daiichi Sankyo. With the acquisition Daiichi got access to Ranbaxys basket of 30 drugs for which the company had approvals in the US, including 10 drugs for which Ranbaxy had exclusive sales right to sell for six months after the expiry of their patents. The deal gave Daiichi an access to best FTF 180 day exclusivity pipelines in the industry. Ranbaxy had already de-risked its FTF pipeline through a series of settlement with innovator companies; this in-turn lowered the litigation expense and removed uncertainty with regard to the launch date of these generic drugs. It also helped in better planning of inventory, launch quantities and supply agreement. DAIICHIS GAIN FROM THE DEAL The era of Generic drugs Most of the pharmaceutical companies in developed world have been concentrating on the patented drugs market, and hence were more RD oriented. But recently the generic drugs market has received more attraction because of: Dates of patent expiry of blockbuster drugs discovered during 1990s are nearing Governments and Insurers are encouraging use of generic drugs to control the spiraling up healthcare costs With saturation occurring in the developed markets, the major markets now are the emerging countries. However the earnings of the citizens in these nations are not high enough to buy the costly patented drugs, so generic low-price drugs form a majority part of the drug markets in these countries. These Pharmerging nations were forecasted to account for the biggest share of pharmaceutical industry growth over 2008-13 period, it was supposed to be a $160-190bn market by 2013. However majority of multi-national pharmaceutical companies were underpenetrated in these markets. With this changing market dynamics Daiichi made the decision to acquire a generic drug manufacturer from second largest populated country, India. This will help them establish presence in a new area (Generics) in the pharmaceutical value chain. India: an emerging hub for Global Pharma India in 2008 had gained a respected place in the in the space of Contract Manufacturing, Drug Development and Drug Discovery and Research. This had become possible due to a strong stream of talent flow, compliance with quality and regulatory standards, distinct cost advantages both in manufacturing and drug development. India also had a large naive patient pool with some of the fastest patient recruitment rates and an innovation and original research engine. Indias strength in this space was reflected by its research collaborations with global Pharmaceutical Companies. For Daiichi its RD expenses and COGS stood at around 45% of the Sales, shifting the RD and manufacturing to India made sense to operate in the highly competitive environment and address continuous pressures from government to reduce drug prices. Access to new markets Daiichi believed that realizing sustained business growth would need the expansion of its prescription drug business in advanced country markets along with tapping growth opportunities in developing countries. Ranbaxy had a strong presence in markets such as Africa, where Daiichi had never ventured. By using Ranbaxys network, Daiichi Sankyo could more than double its global reach from 21 countries currently to 56. As growth would slow in the developed markets, Ranbaxy will give Daiichi a strong position to expand their businesses in emerging markets including India, China, Russia and Brazil. Emerging Markets was a strong geographic component of Ranbaxys revenues. India was undoubtedly the biggest market that Daiichi would get access to now, the Indian market was supposed to triple by 2015 from its 2005 size. Ranbaxy with its strong distribution reach and excellent brand recognition was well positioned across the Indian metro and extra urban areas. Collaborations and Subsidiaries In order to optimize value at various points across the pharmaceutical value curve, Innovator Pharmaceutical and Generic Companies were moving from a competing business model to a collaborative one. On this front too Ranbaxy had strong collaborative projects with companies such as GlaxoSmithKline. Some of them were in Oncology space, Oncology being an area of focus both for Ranbaxy and Daiichi would greatly bolster its presence in this space. Ranbaxy itself had made many acquisitions in previous 2 years, BeTabs Pharmaceuticals South Africa being the recent one. These acquisitions made Ranbaxys position stronger in the Pharmaceutical space. Japan Markets Due to government measures to curb healthcare expenditure, in spite of growing prevalence of lifestyle diseases and aging population the Japan market was growing only quantitatively but not value wise. This government control on pricing is rare in many Asian countries and USA, making Japan an unattractive market. However in-line with encouraging the use of generic drugs, many Japanese hospitals were applying the diagnosis procedure combination (DPC) reimbursement system. The Japanese government was also making efforts to restrain drug-related expenditures through systemic reforms as well as other factors such as drug price revision under the National Health Insurance (NHI) scheme. So generic drugs was surely a promising business opportunity in the Japanese markets, in fact in FY 2008 Ranbaxy registered a sales growth of 38% in Japan (Sales of $20 million). However Daiichi later formed a new company in Japan for handling its generic space in Japan, the strategic intent of this step is a bit doubtful to me. OTC and Biogenerics Given the focus on OTC drugs by both the companies, opportunities existed to expand OTC product offerings of both Ranbaxy and Daiichi across world markets. Biogenerics was also a common interest area for both the companies, Daiichi had just acquired U3 pharma AG and Ranbaxy had acquired Zenotech in the Biogenerics space. Both of them could use each others expertise in clinical trial design, relationship with regulators and marketing power in the US and the EU RANBAXYS VALUATION We used simple DCF valuation methodology to valuate Ranbaxy stock in June 2008, with following assumptions: Sales will grow at 12% for 10 years (McKinsey projections for Indian Pharmaceutical industry) and then slowed down to 8% for 5 years. In order to account for the losses caused due to FDA action against Ranbaxy we have lowered the growth rates for 2008 and 2009 to 10% because Ranbaxy had made alternative arrangements through its US its subsidiary Ohm Labs in the US. NOPAT Margin maintained at 14% for 10 years and then lowered to 10%. The company is making continuous efforts to decrease the working capital so we assume they would decrease it till 25%. The Net Long Term Assets to Sales ratio would fall down to 45%. DCF Valuation 254.6 FTF Value 106 Investment in Associates 5.03 Total 365.63 With these assumptions we came to a value of INR 254.6 (details in ANNEXURE J, K); however this value does not incorporate the value the strong FTF pipeline that Ranbaxy had. This FTF pipeline is valued at around INR106/share (details in ANNEXURE E). Going further we also need to adjust the value for investment in associates (refer ANNEXURE F) for market value wherever information is available. The effective price as per our calculation for Ranbaxy in June 2008 should be INR 365.63. This shows how much premium Daiichi paid above the intrinsic value of Ranbaxy, with an acquisition price of INR 737, they paid almost a premium of 100% over the intrinsic value. I think this was a huge premium for a friendly takeover, suggesting that Daiichi would take long time to enjoy the real benefits of this acquisition. SHAREHOLDERS REACTION The market reaction to this announcement was positive only during the open offer period, post that both the stocks plunged to almost 50% of their pre-transaction values. In Feb 2009 in response to FDAs action against Ranbaxy share price of Ranbaxy was almost 1/3 of what Daiichi Sankyo had paid. Later the Ranbaxy stock moved up considerably but Daiichi was still trading a low levels. To reflect the fact that the market price for the shares of consolidated subsidiary Ranbaxy was way lower than the acquisition price, Daiichi recorded ÂÂ ¥351.3 billion one-time write-down of goodwill associated with the investment in Ranbaxy. This led to a considerable net loss for Daiichi in fiscal 2008. The write down itself signifies that the shareholders money, the retained earnings were wiped out in this acquisition and hence the southwards movement of stock price was as expected. The market expectations from Daiichi were low due to this write-down. WHAT MIGHT HAVE GONE WRONG? In September 2008 the FDA sent Ranbaxy warning letters regarding current good manufacturing practice violations at two of its plants Paonta Sahib and Dewas and forced restrictions on the import of drugs manufactured at these plants. This banned the entry of almost 30 Ranbaxy products in the USA. In February 2009, FDA also invoked its Application Integrity Policy (AIP) against the Paonta Sahib facility. The FDA enquiry had started long back in 2006 itself. According to the FDA report, Ranbaxys quality control scientists took shortcuts on the stability tests for at least two major drugs. They conducted these tests on the same day or within a few days of each other, not over nine months as claimed by the company. The FDA also claimed that Ranbaxy had submitted manipulated data as a part of its application to market new generic drugs in the US, as well as kept hundreds of improperly stored samples in its factories in Paonta Sahib and Dewas. This was partly to blame to the organizational structure of the company as well. Traditionally the analytical research and quality assurance (QA) departments always had firewalls between them; the QA department job was to keep a watch on the activities of the research unit. However in the recent past, Ranbaxy brought both departments together, encouraging the problems to stay confined within the walls of the company. Daiichi should have assessed the standard pharmaceutical organizational structure and also tried to estimate the full extent of the legal risk arising out of the US FDA letters. They should have asked for information on plant inspections done in 2006 and details of submissions made by Ranbaxy in defence. However the fact that a Japanese company like Daiichi decided to tackle the issue when presented with the problem rather than spending time evaluating the risk, was really impressive. Ranbaxy was said to have poor human resource practices, which led to high employee turnover. In research and development alone, four departmental heads had resigned in quick succession in the period just before acquisition. This phenomenon of resource attrition at Ranbaxy continued even after the acquisition. Mr Malvinder Singh the CEO and promoter of the company left the company in May 2009. In the original agreement he was to stay with Ranbaxy for 5 years after the acquisition. By leaving 4 years before the contractual date not only did he have to pay a hefty severance package but also raised doubt among foreign companies, looking for Indian partners. For a foreign company like Daiichi it was natural to rely on promoters and their team to continue running the company for a while. Daiichi paid INR 737 for a company with an intrinsic value of just INR 365. This valuation glitch clearly demonstrates Daiichis lack of understanding of generic business. I believe inadequate due diligence was done considering the size, scale and scope of the deal, reflecting Daiichis inability in understanding of India and the generic world. I also feel Daiichi was not able to properly access the possible impact of the ongoing FDA enquiry. Ranbaxy was also to blame for not being transparent about the actual status of the FDA enquiry. One more prominent thing that Daiichi probably missed on was the continuously increasing debt levels of Ranbaxy. The year of 2007 witnessed great currency volatility in response of unforeseen global financial crisis. Through 2007 until early 2008, INR steadily appreciated against the US Dollar. From around levels of INR 44, it strengthened to about INR 39 with the market forecasting further appreciation. In order to de-risk export revenues Ranbaxy took derivative positions to protect against exchange volatility. However INR movement sharply reversed to the US Dollar in June 2008 sliding past the INR 50 mark in H2 of that year. Owing to these loss making derivative positions Ranbaxy recorded foreign exchange losses of INR. 10,856.24 million in 2008. Daiichi with its global expertise should have reviewed Ranbaxys overseas investments, including derivative instruments with open positions. There must have surely been cultural differences and management style differences between the two companies and they did not get enough time to handle these issues. In an interview Atul Sobti, CEO Ranbaxy said The Japanese are very process-oriented. They have a tremendous respect for teamwork. On compliances and quality, there can be no compromises. And those are the areas that we need to work on. Culturally, those are also not our (countrys) biggest strengths. We will be sharply focussing on these issues. Daiichi also realized the need of global management structure and hence building a global management structure with clear roles and responsibilities for all locations and functions was one of the strategic agendas for them. I am also sceptical about the synergies achieved in the patented drugs space, because even after the acquisition RD expenses for Daiichi had grown from 18.6% to 21.9% of sales. Should the synergies have been achieved, with the directing of RD and manufacturing to India, COGS and RD expenses for Daiichi should have decreased or at-least remained stagnant. CONCLUSION Initially the Ranbaxy deal seemed a win-win, allowing both companies to use each others networks and technological power. The deal seemed very lucrative for Daiichi Sankyo due to the access to best FTF pipeline, access to the generics product line, access to new markets and an opportunity to diversify away from Japan into the emerging markets. However looking at the post acquisition financial statements of these companies we realize that this deal was a failure and Daiichi is trying its best to make the acquisition work in its favour. In the immediate year after the acquisition Ranbaxy reported a loss of INR 9,512.05 million and Daiichi in spite of diversifying its geographic footprint booked a loss of ÂÂ ¥215,499 million and they also made a onetime goodwill write-down of ÂÂ ¥351.3 billion for investment in Ranbaxy. These losses were mainly rooted in Ranbaxys poor performance owing to the FDA ban and bad decision in hedging currency risks. The pre-acquisition due diligence should have understood that Emerging markets are lucrative but corporate governance and integrity are surely not to be assumed in these markets. Valuations in these markets are way higher than their real potential and valuation in strongly regulated industries like pharmaceutical is strongly linked to regulations in the major markets. For the export oriented companies developed markets with stricter regulations are the main revenues streams due to higher margins; however the regulations in these markets are stricter unlike merging nations. Ranbaxy also had ease in clearing the Indian drug regulations but failed to clear the US FDA regulations and hence its US subsidiary Ohm Labs had to pitch in. Other factors such as top-management retention rates, organizational structure, internal firewalls and proper use of financial instruments to hedge risks should have been analyzed before the deal.