Analysis of “The Overachievers” Essay

College application season can be the most stressful period of time for any high school student. The combination of regret for not doing better in school, doubt in your own chances of admission, and the fear of rejection is enough to break even the most stable students. Author Alexandra Robbins, however, realized that the stress of college admission starts well before, as well as lingers well after, the actual application period. Through her observations, she concludes that the current education system is transforming students into GPA-obsessed, narrow-minded beings, and that the stresses of applying to a so-called â€Å"prestigious† university have a multitude of negative side effects. Her first argument concerns how colleges and the entire application system as a whole is systematically turning flesh and blood students into merely sets of numbers. She explains how students nowadays are only concerned about three numbers: their SAT scores, their GPAs, and their class ranks. She goes on to explain that the obsession with these three numbers is causing students to lose sight of what high school is really meant for; getting a sufficient learning experience while preparing oneself for the trials of college life. Instead, high school has become a mad dash for the best chances of being accepted into colleges. This trait is exemplified in AP Frank who, forcefully urged by his mother, took all 17 AP classes Whitman high have to offer, an inconceivable workload that required he skip his lunch period everyday. Going off on a tangent, Robbins also makes a point about the â€Å"no child left behind† policy and severely criticizes it for forcing teachers to focus more on test scores rather than actually teaching. Early in the book, Robbins personifies her aversion to turning students into numbers in the form of college admissions counselors. She believes that this group of people is the epitome of why the application systems are so flawed, and first puts forth this idea by introducing the reader to Julie’s college counselor, Vera. Vera is so obsessed about her personal image and is so convinced that Julie will never be accepted into her dream college based solely on her grades and test scores that she drops Julie as a client. Robbins’ second argument that makes multiple appearances throughout the course of the book is the assertion that the high amounts of stress experiences by high school students today is actually deadly. In the quest to be accepted into a prestigious college, students today take workloads that at times is too much, causing them to mentally snap. In this case, an unimaginable workload is put onto AP Frank by his oppressive mother, which Robbins states is quite common in East Asian countries, but not all the overachievers have had their workload put onto them. Audrey, the perceived â€Å"Perfectionist† doesn’t necessarily have as many reasons to be stressed as some of her classmates, but her mental state of having to do everything perfectly causes her to be under unnecessary stress. For example, it wasn’t mandatory that she spend all of her weekends and free time constructing the perfect bridge for her physics class, but her tendency to always want to be the best made it so. She spent time in which she could have been relaxing or decompressing on working vigorously. The resulting stress has been known to cause student suicide rates to rise around the world. Back at home, Julie also feels the effects as she notices that her hair has begun to fall out. She dismisses it as merely the side effects of her academically demanding life, but what she fails to realize is that stress-induced symptoms are the first signs of serious permanent damage and an increased likelihood that she will one day mentally break. Overall, Robbins points out increasingly detrimental flaws in our current education system, such as turning students into data and burdening them with potentially fatal workloads. She also presents the information in a sense that allows the reader to connect with the students of Whitman High on an emotional level, which, in the long run, better help the reader understand the severity of the situation.

Appeals Against Assessment Decisions

Appeals against assessment decisions It is the intention of XXX that the assessment process will be transparent fair and just for all learners. All learners have the right to appeal against any assessment decision. Any learner may appeal against an assessment decision if they feel: * Unfairly treated * The assessment decision to be wrong or invalid * The assessment process to be unfair or wrongly carried out * The assessment or teaching methods to be inappropriate * The assessment process to be unreliable or inconsistent * The course work and content did not meet the course outlineA copy of this policy will be publicly displayed. A copy of this policy will be provided to all learners and discussed during induction. Written records will be kept of all appeals. At any stage any learner can seek the support of an advocate or friend to assist them to deal with their appeal. The stages of the process will follow: Stage 1. In the first instance concerns should be discussed with tutor. The tutor will reply to concerns within five working days. The concern will be given both verbally and in writing. Stage 2.If the concern is unresolved informally, the appeal or complaint can then be made in writing to the Programme Manager (Regional Volunteer Coordinator) at XXX. The appeal will be investigated, assessed and a decision will be given in writing within 14 days. Stage 3. If still not satisfied with the result of appeal a request for the appeal to be forwarded to an Appeals Committee will be granted. The committee will consist of the organisations Deputy Director, a member of the projects Steering Committee and another network member. The committee will respond to your appeal in writing within 4 weeks. The result of the Appeals Committee is final.

Business Plan Master Case Study Example | Topics and Well Written Essays - 3750 words

Business Plan Master - Case Study Example Furthermore, Ms. Thomas feels that her enthusiasm towards the task will enable her become a successful sole proprietor. However, there seems to be some drawbacks in that she has a dispute with her husband with whom they have separated but this does not seem to deter from achieving her goals. Ms. Thomas has never been an entrepreneur and therefore she does not have any records to indicate that she has engaged in business before. Financially, Ms.Thomas seems to have some financial commitment because as indicated, she has had a bank account for ten years. In her business proposal, she has left out some essential information, which would assist her in the in understanding the kind of business she wants to engage in. A business plan is also evaluated by looking at one's ability to run a business. In business, it involves one's ability to manage resources. From Ms. Thomas history, she has little or no experience that she can use to manage her business. This would be very challenging to her because, in order to run a business well, one needs to have knowledge that will assist her in the management of the physical, human and financial resources. Due to the fact that this is the first time that she is engaging in business, she may not have any business documents to support her claim that she has the ability to keep financial records. In this case, if requested by the bank to show the business records, then, she would not have any to show since this is one requirement that a bank would ask for when one is requesting for a business loan. Management would also be evaluated in a business plan. This would be done in terms of assessing the quality of the key personnel that she would employ the relevance of decision makers and also the level of education and training displayed by the key personnel. In Ms. Thomas proposal, she does not explain in any way in which the personnel would be recruited to assess their credibility in terms of offering quality service to the clients. In this case, she would not be in a position to know if the key personnel are helping her in making relevant decisions in the business. The purpose of a business should also be analyzed in a business plan. One needs to explain why a banking facility is needed, whether the facility will be based on serving the customers, whether it would be used for trading purposes or for purchasing fixed assets. Ms. Thomas proposal clearly outlines the purposes for which she would use the facility. For instance, she would request a mortgage from the bank to buy fixtures, fittings and stock and also in the acquiring of a premise. In business plans, an analysis is done on amounts. In this case, one has to balance between the customers stake versus the bank. Ensuring that all costs have been included and that they are correct would do this. When analyzing amount, one needs to ensure that the customers' money is injected into the business before the bank lends it money. In the case of Ms. Thomas proposal, she has stated that she would give all her customers priorities but she has not included the costs that would be incurred in running the business. Furthermore, her business is new so she does not have any money from sales that is essential to show to the banks that she indeed has a business that is going on and

Unit 2 jounal Essay Example | Topics and Well Written Essays - 1500 words

Unit 2 jounal - Essay Example Chapter 3 In this chapter, the writer will pay homage to roots of slavery in America, where the hidden origins of slavery are discussed. The writer opines that slavery took place in a very tactical and system manner, making it very difficult for it to be detected easily even by the Blacks who were to become victims later. At this point, the Blacks had come to realize the depth of deception that had been placed on them through slavery. This is because unlike what they were made to believe in earlier times, such as what we are presented in chapter 3, they realized a serious lack of identity and personality. What was worse, their land was also taken and so they would have to reclaim them back. The writer was very accurate in describing the attempts that the Blacks made in reclaiming their land and other possessions that they felt the act of slavery had taken from unjustifiably been taken away from them. There was also much explanation on the justification for this call that the Blacks were making for their land. Chapter 13 As the Black community had started making efforts to reclaiming what belonged to them, the writer used the 13th chapter to reflect on the level of success that had been achieved by far. There is therefore the caption, â€Å"To the land of hope†, to depict that the Blacks were still convinced that their dream was appropriate. The Blacks continued to view the North as a land of hope, where they had to be to make the consolidation of their personality and identity complete. Later in the chapter, tribute is paid to some of the specific successes of the Black in various places in America, including what was described as â€Å"Black Pride in Harlem†. ... n† and in other parts of the world like England and Australia; such descriptions do not exist even though there are English and Australians with Black origins. After reading pages 350 to 359, an understanding of how the term ‘African American’ is better understood. This is because as at this time in history, the African community had come to realize that they were part of a common people known as the Americans. Meanwhile, the indigenous American would refuse to appreciate this and so will draw a line of distinction. It is not surprising the writer described the situation as â€Å"Bomb the Color Line†. Pages 396 – 402 It has often been argued that true fighters are able to tell when it is that they must stop fighting based on the fact that continuing to fight will bring about defeat. In such situations, part of the options includes the deferral of the battle. This was exactly what the writer tells us was done after the rising wind of social justice had somehow been tamed by the authorities involved. To say the dream had been deferred may sound a defeatist approach but in reality, that was not what the true case was. The minority group within the American fraternity was only seeking the best means by which if they exploded, their explosion would create the best of effects. 2. Kaleidoscope 107-118 In these pages, Equiano gives a biographic description of his journey through America and England and how his experience as a Black voyager gave him a vivid idea of how slavery was intense in those lands where he was travelling. A very positive aspect of this piece of writing is that it serves as an advocacy as to how modern issues of slavery should be approached. This is because instead on accepting the status of slavery, Equaino fought for his personal freedom without

Business Research Methods Essay Example | Topics and Well Written Essays - 2000 words

Business Research Methods - Essay Example It is often difficult to obtain good advice and supervision for research in a steel company with low productivity where job security is very low among the employees. Good advice and supervision (for trainees) or peer review (for experienced researchers) are a key to successful research. Inadequate planning This is often related to poor advice. All stages of the project need to be planned in detail. There is nothing worse than getting halfway through data collection, and then realizing that things should be done slightly differently. Or even worse collecting a whole load of data and then realizing that one do not really know how to analyze it. Methodological error Many questions in Job Satisfaction survey are rather complex. The Method has to match the question. If not, there will be problems in analyzing the results. Premature data collection It is very tempting to design a data collection form and start collecting data as soon as possible. However this is always a mistake. A lot of energy and enthusiasm is wasted by premature data collection. A Structured Approach has to be adopted to avoid this pitfall. Underestimate of time / resources required Research projects always take much longer and are always much harder. A good rule of thumb is to estimate within the time and resources that you have available, play safe and ask a smaller or different question. Lack of motivation Completing a research project is hard work. It takes energy, enthusiasm and staying power from the employees. In a steel company with low productivity, one cannot expect the employees to be enthusiastic. Not asking a focused question This is the commonest reason that projects fail, with the usual error being to attempt to answer a question that is too big and too general. Obtaining a... It is very tempting to design a data collection form and start collecting data as soon as possible. However this is always a mistake. A lot of energy and enthusiasm is wasted by premature data collection. A Structured Approach has to be adopted to avoid this pitfall. Research projects always take much longer and are always much harder. A good rule of thumb is to estimate within the time and resources that you have available, play safe and ask a smaller or different question. Completing a research project is hard work. It takes energy, enthusiasm and staying power from the employees. In a steel company with low productivity, one cannot expect the employees to be enthusiastic. This is the commonest reason that projects fail, with the usual error being to attempt to answer a question that is too big and too general. Obtaining a concrete answer to a small and specific question is much better than attempting to obtain an answer to a 'big question'. This is also called a dichotomous scale and takes the form Yes and No questions. The Major draw back of this type is that it can be applied for demographic responses or where a dichotomous response is adequate. Analysis is almost negligible for these types of scales. This scale is appropriate when there are multiple options but only one answer is sought.

Public Relations and Tourism in Lebanon Thesis Example | Topics and Well Written Essays - 1500 words

Public Relations and Tourism in Lebanon - Thesis Example The intention of this study is an international tourism is one of the most important sectors in the world today as expenditure on tourist goods and services represent some 8% of total world export receipts and 5% of world GDP while the Arab world attracts only 3% of international tourist arrivals and receipts. Most countries that specialize in the tourism sector have made good economic progress. The progress is largely dependent on how the destination has been marketed. Public relations play a vital role in constructing images of a location and the activities that the location offers. This has become important as tourism today has been categorized as adventure tourism, conference tourism, eco tourism, health tourism, spa tourism, event tourism, religious tourism or cultural tourism. Lebanon as a destination has much to offer to tourists. It has a diverse patchwork of Mediterranean-lapped coast, rugged alpine peaks, and green fertile valleys over an area of 225 km. long and 46km wide. The Lebanese coast has the Mediterranean Sea to the west and the Mount Lebanon Range to the east. Apart from these it offers multi-sport adventure and archaeological wonders but tourism has been adversely affected in the last decade for various reasons. Much of these has been attributed to the image that been created by the media. Hazbun contends that of late Lebanon has been proactive in promoting tourism. The author suggests that Beirut’s urban redevelopment efforts will not be able to attract the western tourists as Lebanon carries an external negative image, is gripped by fears of regional instability and attracts high prices.

The effects of aquaculture on bottlenose dolphin (Tursiops sp.) Essay

The effects of aquaculture on bottlenose dolphin (Tursiops sp.) ranging in Shark Bay, Western Australia - Essay Example of such a large number of single species, the interruption of the food chain, the activity of humans and the interference with migration patterns and appropriate safe places in which dolphins have traditionally hidden from predators, there have not been many studies conducted regarding the exact effect these types of farms have on local dolphin populations. The study looked at the activities of 11 female dolphins that have been subjects of studies since 1988. Because the areas of the oyster farm moved periodically throughout the study, researchers were able to compare dolphin activities at each stage of operation. The study was conducted by approaching dolphins as they were seen from a small boat and determining individuals by their dorsal fins. At the same time, the location of the boat was recorded by taking bearings on GPS devices or landmarks. These location points were then charted and compared to the oyster farm areas. The dolphins studied did show a significant decrease in usage of the areas used by the oyster farm, preferring to operate around the farm rather than in it or through it. The impact of this is decreased foraging sites for female dolphins, resulting in decreased eating, reproductive success and disruption in established social

Rhetorical Argument Essay Example | Topics and Well Written Essays - 1750 words

Rhetorical Argument - Essay Example Lamar provides suggestions on how a 3-year college degree is efficient in terms of educational and cost. On the other hand, the authors of What’s College for Anyway give similar sentiments. The authors believe that college time should be reduced but they have been keen to point out international students who might be required to take a little longer due to language barrier and acclimatization reasons. James Altucher the author of Skip Diploma, 8 alternatives to college begins with a story on how he used his college fee to buy a car only to return the car and join a college. He regrets this decision and cites reasons such as costs of education and time consumed in college as his reasons for regret. He therefore does not want other students to go through what he went through and provides them with 8 alternatives for college. Ironically, he gives reasons such as travelling around, creating an art, make people laugh, write a book as some of his alternatives. Jacques Steinberg is t he author of Plan B, Skip College. He reviews some of the professors and University presidents regarding this issue. ... The paper reviews their thoughts and offers analytical recommendation and conclusion regarding their debates. Thesis Statement There has been a lot of controversy regarding the time college students should spend in colleges and in the universities. There has also been a major concern regarding the quality of education in American colleges and Universities. Moreover, many critics believe that a four years education career at the university or the college is so expensive. Most of the scholars argue against the traditional 4 years and thinks that this time should be reduced to 3 years. I believe that college and university time should be reduced to three years instead of the traditional and fixed four years. Will this provide America with the fresh, energetic and skilled labor that it is lacking? Skip the Diploma According to the author of Skip the Diploma: 8 alternatives to college, James Altucher, attending college has made him regret his life. He gives 8 alternatives for attaining a diploma in a college. It is quite challenging to realize that most of the scholars are against attending colleges and give options for business as a way of living (James Altucher). The US government has been struggling with a shortage of skilled labor for quite a long time and the country depends on foreign labor in order to meet its demands. For this reason, questions have been raised on whether to shorten colleges and university duration in order to meet this demand. President Obama recently gave a proposal of an extended education a view, which has not been received well and has been criticized by most scholars and policy makers in the US. There have been concerns about the quality of education US has been producing. US is one of the economic giants in the world and

Curfew Law Enforcement Case Study Example | Topics and Well Written Essays - 750 words

Curfew Law Enforcement - Case Study Example They are mostly enforced to help reduce the youth participation in activities that may be considered criminal and affect their lives, or endanger their and other people’s lives. The restrictions also enable parents to have better and clear supervision of their children’s activities on the afterhours. It has been proved through studies that cities with enforced curfew laws have had significant drops in youth participation in criminal activities. A 2011 study analyzed data from the Federal Bureau of Investigation’s Unified Criminal Reporting files from 1980 to 2004 for the 54 larger U.S. cities (180,000-plus residents) and enacted youth curfews between 1985 and 2002, focusing on arrests for both minor offenses (loitering and curfew violations) and more serious infractions (such as violent crimes and property crimes). The report showed that arrests of youths directly impacted by curfew restrictions dropped by almost 15% in the first year and approximately 10% in fol lowing years (Weigel, 2011). This paper will therefore weigh the facts of the plaintiff against the constitutional mandate and responsibility of the defendant of enforcing state laws and give a verdict. DISCUSSIONS Freedom of assembly is a fundamental part and a right that is provided and protected in the first amendment and should therefore be enjoyed by every citizen. If not properly enforced, curfew laws can greatly infringe on human rights and freedom of assembly and even freedom of expression. SUSIE MARKS CASE AGAINST RUTHLESS Susie after boarding Jerry and Kate’s truck against her will was seriously injured when the truck in which she was riding failed to negotiate a left turn. Notwithstanding that the state allowed persons to board the back of trucks without seat belts, Susie felt that given a choice she would have walked home or waited for Orson. Ruthless neither accorded her the freedom to express her wish and plan nor considered the implications of his actions havin g in mind that Jerry was a minor who had just been licensed to drive and therefore had insufficient experience. Ruthless told Jerry: "Get everybody out of here," and that "if you guys don't get out of here, curfew will be enforced." These words were also scaring especially for minors who feared that their actions if any against Ruthless would have â€Å"curfew enforced†. An example would be Hodgkins v. Peterson, SD Indiana 2004 when the judge ruled in favour of the defendants (Hodgkins) (Sandy, 2008). The arguments can be compared to Susie’s case given the fact that the law enforcer scared the minors through inappropriate words. In the Hodgkins case the argument was that For a person to file a claim that violates their First Amendments rights, they must prove that their speech was actually chilled. Just like in Hodgkins case, they deemed the ordnance unconstitutional because fear of criminal prosecution would have prevented, or did prevent them from going to late night protests, political rallies, or church events, which are protected First Amendment rights. (Sandy, 2008). RUTHLESS’ FACTS AND ARGUMENT Ruthless being a law enforcer was within his constitutional mandate of performing his duties and was right to order the kids to leave for home. As studies have shown young people under 16 were responsible for 62 percent of violent juvenile offenses, statistics also showed that teenagers were the most frequent targets of juvenile violence (Constitutional Rights Foundation, 2013).He also argued that Jerry had no problem dropping off Susie although he did not hear her out. Ruthless therefore having given the youngsters an

Losing Isaiah Essay Example | Topics and Well Written Essays - 500 words

Losing Isaiah - Essay Example When Isaiah’s biological mother went out of the prison and escaped from the iron clutch of drug addiction, she decided to get Isaiah back. Here the controversy began. In the courtroom the parties of the â€Å"conflict† raised questions of ethnical difference between Isaiah and his foster family and wisdom of bringing up the boy in the environment, where nobody is like him. After the heated argument in the court, the judge brought in a verdict to give Isaiah back to his biological mother. That was right decision from the point of common sense, but it did not work in the end. The arguments against the verdict are the following: Isaiah’s biological mother did not know anything about bringing up this child; the boy had psychology problems and radical change of the family could do harm to him; there was a possibility of compromise that would be acceptable for both mothers and the child. Firstly, despite the fact that Isaiah was brought up in the â€Å"white† environment and did not receive enough information about his roots, he was brought up in the atmosphere of love in Margaret’s family. His foster mother was with him from the very childhood. She helped him to overcome the drug addiction and kept him safe from the hunger and poverty. Margaret Lewin was right when she said that Khaila was not inherently his mother. Margaret said that Khaila wouldn’t even know what to do when Isaiah got sick. She really loved the boy, and on the trial she told Khiala’s lawyer that the skin color does not matter when it goes about love, and they are capable to bring up Isaiah as a decent person. Secondly, Isaiah was rather troubled child. He was born from drug addict and during his first days of life he did not receive a proper care. Moreover, his biological mother gave him drugs as a sort of â€Å"lullaby†. The new born baby was drug addicted. All these facts could not but influence his

The cause of stress to college students Essay Example for Free

The cause of stress to college students Essay Many people experience stress as they combine busy lives and the demands of study and or work while trying to also save time for friends and family.. For some people,, stress becomes almost a way of life.. We all experience episodic stress – getting ready for a major exam,, completing an important paper,, perhaps getting ready for an important interview.. However,, a continuous â€Å"â€Å"state†Ã¢â‚¬  of stress should not become a way of life.. We know that stress – over a prolonged period of time – can have increase certain health risks,, to say nothing of the wear and tear that happens to relationships and general wellbeing. This simple guide uses materials adapted from several college campuses with active stress reduction programs.. It explores the origins of stress and provides some basic ways to assess the level of stress you may be feeling and then suggests some easytoincorporate ways to decrease the level of stress.. WHAT IS STRESS? Stress is simply the bodys non-specific response to any demand made on it. Stress is not by definition synonymous with nervous tension or anxiety. Stress provides the means to express talents and energies and pursue happiness; it can also cause exhaustion and illness, either physical or psychological; heart attacks and accidents. The important Recognizing Stress The following are indicators that you may be experiencing stress. ^ General irritability ^ Elevated heart rate ^ Increased blood pressure ^ Increased accident proneness ^ Floating anxiety-anxious feeling for no specific reason ^ Trembling ^ Insomnia ^ Headaches ^ Indigestion ^ Pain in neck and/or lower back ^ Changes in appetite or sleep pattern Thing to remember about stress is that certain forms are normal and essential. As the body responds to various forms of physical or psychological stress, certain predictable changes occur. These include increased heart rate, blood pressure (systolic and diastolic), and secretions of stimulatory hormones. These responses to stress will occur whether the stress is positive or negative in nature. In lay terms, it is known as the fight or flight mechanism. Continual exposure lowers the bodys ability to cope with additional forms of psychological or physiological stress. The results of continuing stress may cause disruption in one or more of the following areas of health: physical, emotional, spiritual and/or social. Stress is a process that builds. It is more effective to intervene early in the process rather than later. Try to become aware of the signs that suggest the process has begun. COMMON STRESSORS IN COLLEGE LIFE INCLUDE: ? Greater academic demands ? Being on one’s own in a new environment – with new responsibilities ? Changes in family relations and one’s social life ? Financial responsibilities ? Exposure to new people, ideas, and temptations ? Being away from home, often for the first time ? Making decisions, on a higher level than one is used to ? Substance abuse ? Awareness of one’s sexual identity and orientation ? Preparing for life after graduation ? Psychological make-up can also play a role in vulnerability to depression. People who have low self-esteem, who consistently view themselves and the world with pessimism, or are readily overwhelmed by stress may be especially prone to depression. TAKING STRESS SERIOUSLY For many young adults, college is the best time of life. These critical years of adjustment can also be undermined by depression, anxiety, substance abuse and eating disorders. Researchers are finding that many mental illnesses are traced to trauma, whose damage surfaces in times of stress and change, such as the college years. The statistics listed below are evidence that stress in ourselves or in someone about whom we care – should be taken and treated seriously. College students are feeling more overwhelmed and stressed than fifteen years ago, according to a recent UCLA survey of college freshman. More than 30% of all college freshman report feeling overwhelmed a great deal of the time. Thirty-eight percent of college women report feeling frequently overwhelmed. Depression affects over 19 million adults in the US annually. At colleges nationwide, large percentages of college students are feeling overwhelmed, sad, hopeless and so depressed that they are unable to function. In a recent national college health survey, 10% of college students had been diagnosed with depression. Women, who tend to be more forthcoming (or are less stigmatized) in seeking treatment for depression, recorded a rate of 13%. Anxiety disorders affect millions of adults every year, and anxiety levels among college students have been rising since the 1950s. In 2000, 7% of college students reported experiencing anxiety disorders within the previous year. Women are five times as likely to have anxiety disorders. Eating disorders affect 5-10 million women and 1 million men, with the highest rates occurring in college-aged women. Advantaged, white women are at the highest risk. Suicide is the eighth leading cause of death among the US population, the third leading cause of death for all those aged 15-24, and the second leading cause of death in college populations. Individuals who are stressed are more likely to have accidents – including those involving motor vehicles, and, to be more careless with seatbelt use. According to the Centers for Disease Control and Prevention (CDC), 7. 8% of men and 12. 3% of women ages 18-24 report frequent mental distress – a key indicator for depression and other mental disorders. Some additional suggestions for reducing stress levels and enhancing your college experience: ? Keep your space and consequently your mind organized. ? Go to class. ? Keep up with course work (the rule of thumb is two hours of study per one hour in class). ? Get involved with campus activities. ? Maintain communication with your family. ? Take advantage of campus resources and choose a career path. ? Form healthy relationships. ? Talk to someone about your problems (family member, friend, college counselor). ? Get to know your professors.

Giotto Di Bondone: Art Style Analysis

Giotto Di Bondone: Art Style Analysis Giotto di Bondone (c. 1277-1337) was a Florentine painter who is widely celebrated as one of the most revolutionary and influential artists in the Trecento Italy. The 16th century art historian Giorgio Vasari praises Giottos gifted artistic talent, intellectual acumen, and pictorial precision: He became such an excellent imitator of Nature that he completely banished that crude Greek style and revived the modern and excellent art of painting. Giotto transformed the flat Byzantine approach by pursuing the naturalistic style that had been neglected by his artistic predecessors. Through close observation of nature, Giotto gave life to forms on a two-dimensional surface. Arguably, his most renowned work is the fresco cycle in Arena Chapel, Padua. Completed around 1305, the fresco paintings in the interior of Arena Chapel were commissioned by Enrico Scrovegni, who dedicated the chapel to the Virgin of Charity in order to repent his and his father Reginaldos sins of usury. In the thirty-ei ght scenes of the cycle, Giotto employed a dramatic narrative program. The episodes not only serve as a visual language showing the lives of the Virgin and Christ, but also reveal a sense of drama and display human interiority that demand the viewers intellectual and psycholocial engagment. How was Giotto able to convey drama and achieve communicative potential? This paper attempts to answer the question by analyzing his artistic style. Before embarking on our discussion of how Giottos artistic elements are dictated in Arena Chapel, we should first look at the organization of the fresco cycle. The thirty-eight episodes are arranged in three registers; the lives of Mary and her parents, Joachim and Anna, begin on the top level, the life and the mission of Christ are depicted on the middle level, and the Passion, Crucifixion, and Resurrection of Christ are on the lower level. The base level below has grisaille paintings alternating with the Virtues and Vices, which are painted in shades of gray in order to mimic marble and sculpture. The Last Judgment, perhaps the climax of the narrative cycle, fills up the majority of the west entrance wall. The barrel-vaulted nave of the chapel is executed in blue-the color that is echoed in all of the backgrounds of the panels, thus enhancing coherence. Each fresco section is surrounded has ornamental borders that not only function as dividing frames but also serve to heighten the realisitc quality of the painted scenes. Emotionalism in Giottos narrative is strengthened by his technique of averting some of his figures from the viewers eyes. He does this consciously by positioning his figures on their backs to the viewers or showing figures only in their profiles. His treatment of figures shows his interest in revealing stories and portraying emotions by concealing some forms. Lamentation in the lower register of the left wall from the chapels entrance shows the essence of his technique. The two mourners who are seen from their backs are not incidental in their positions but play an important role in communicating human drama. The mourning figure in the left corner is holding the head of Christ while the other is holding his right hand. Although we as viewers are not able to witness their facial expressions, we are able to feel the presence of their grief in absence. Through inexplicit images, Giotto is allowing the viewers to internally create an image and feel their silent mournings. Perhaps the rea son that the seated mourners are so simple and voluminous is that Giotto expects the viewers to add details through our own imagining. A similar technique can be seen in Giottos Kiss of Judas, where a relatively small sized figure in a hooded cloak is turning his back to the viewers. Right in front of the figure is Peter stretching his right hand to cut Malchus ear. Giotto included the anonymous figure to let the viewers contemplate and imagine the face of a tormentor who participates in the atrocity. In this way, onlookers can experience deeper emotional responses and relate to the biblical narrative in a much more empathetic way. Baxandall calls such experience a visualizing meditation and states that by omitting details, an artist complements the beholders interior vision. Giotto renders psychological drama through striking gestures and facial expressions on his figures. These elements are the most evident in Lamentation. The ten angels above the body of Christ are frantically flying and thrusting their bodies toward the viewers. They are moving with such great speed and energy that their robes seem to melt into the sky as they dart through the air. Their ghastly expressions of grief allow viewers to empathize. It is also crucial to note that none of them looks the same; each is individualistic in his or her poses and expressions. The angel on the lower right side is wrenching her hair with her two hands while another has her arms outstretched. The one in the middle is dashing toward the viewers with his mouth half open while another covers his face with his drapery. The motions, contortions, and foreshortening of their bodies are so powerfully depicted that their agony and despair are almost palpable. The movement of Saint John the Evangelist is also dramatically represented. He is standing up and bending his body to look down at Christ while throwing his arms back as if in utter shock and disbelief. The pain is apparent in his contorted face. His posture is evocative of the cross, which symbolizes the suffering of Christ. The gesture of Saint John the Evangelist not only heightens the psychological drama but also tells us that he has the room to do it. Thus, it creates an illusionistic space, depth and perspective that make the narrative panel much more true to life. Through a combination of different gestures and expressions, Giotto offers a range of sadness that provokes a powerful emotional response. Giottos narrative is much more dramatized by its sensory impact. Giotto is successful in not only communicating emotions visuallly but also is effective in appealing to the tactile and olfactory senses. In Giottos Meeting at the Golden Gate, viewers can feel the affinity through the touch of Joachim and Anna at the bridge in front of the Golden Gate. Anna is wrapping her hand around the neck of Joachim and her other hand is embracing his cheek while Joachim is drawing Anna toward him. Giotto positioned them so close to each other that their bodies and faces seem to merge in to one flesh. It is the touch that intensifies the old couples blissful emotion. By stimulating the tactile perception of the viewers, Giotto is able to communicate with the psychology of the viewers minds. As Gombrich writes, it is touch that enable[s] us to reconstitute the three-dimensional form in our minds. Giotto has also captured the drama of human interaction in Raising of Lazarus. Here, Giotto included tw o figures on the right who stand directly beside Lazarus. Both have covered their mouths and noses with their cloaks and one of them is even turning away from the scene as if the odor emanating from the decayed body of Lazarus was too sickening to tolerate. Their reactions to the smell add a depth of reality and signal the interaction among the characters portrayed. Through the presence of the two covered figures, Giotto has captured the feeling of unpleasantness. In fact, by appealing to the olfactory senses, Giotto allowed the viewers to become active participants rather than passive observers. Giottos series of fresco paintings in Arena Chapel are the culmination of his artistic skills. Various techniques are combined to communicate with the viewers. Through the concealment, gestures, expressions and tactility of his figures, Giotto provokes a strong emotional response from the viewers who are led to meditate upon his paintings. He has consciously employed his intelligence, ability and precision to suffuse his narrative scenes with human drama, interaction and emotions. Indeed, they are not merely well crafted mural paintings to be passively enjoyed but are combinations of powerful narratives to be actively interpreted. Ultimately, Giottos interest in human experience and naturalism has made the narrative cycle in Arena Chapel so profound and communicative.

The Banker-Customer Relationship

The Banker-Customer Relationship Banker Customer Relationship In the light of a massive erosion of the principle of confidentiality. In the Banker/ Customer Relationship Review Committee on Banking Services Law (1989) recommended that the government should not further extend the statutory exceptions to the duty of confidentiality, without taking full account of the consequences for the banker/ customer relationship Critically discuss how the principles of confidentiality has developed the potential aspect on banker/customer relationship. The banking service plays a major role in within modern society. It is estimated that over 90% of all adults in the UK hold a bank or building society account. Therefore the proper deliver of services by banks is of significance to the majority of UK consumers. The issue of confidentiality is an essential feature of the service. In 1989, the Treasury and the Bank of England set up the first independent review on banking services law and practice within the UK. That report is known as the Jack Report. The objectives of the report were to achieve four main objectives: i) achieve fairness and transparency of dealings ii) maintain confidence iii) promote efficiency iv) preserve the bankers duty of confidentiality. Amongst its 83 recommendations, the Report recommended that the government should not further extend the statutory exceptions to the duty of confidentiality, without taking full account of the consequences for the bank/customer relationship. This paper seeks to analyze how the principles of confidentiality have developed since 1989 in relation to the banker and consumer. History The obligations of confidentiality in relation to banking law within the UK stem from the common law. The leading case in this area was Tournier v National Provincial and Union Bank of England. The bank had released information related to the plaintiffs debt to the bank to his employers, and this subsequently led to his dismissal. The Court of Appeal confirmed that it is an implied term of the banker/customer contract that the banker has a duty of secrecy. In the circumstances of the case, it was found that the bank had breached its duty, and the court found for the plaintiff. Bankes LJ stated that confidentiality may be breached: i) Where disclosure is made under compulsion of law; ii) Where there is a duty to the public to disclose iii) Where the interests of the bank requires disclosure iv) Where the disclosure is made by the express or implied consent of the customer. The decision was more recently affirmed by the Court of Appeal in 1989 in Lipkin Gorman v Karpnale. Therefore, the primary rule in UK banking law is that all information relating to the state of a customers account, or any of his transactions with the bank, or any information relating to the customer acquired through the keeping of his account is confidential, subject to the four Tournier exceptions. Statutory Law The first exception in Tournier permits the bank to disclose confidential information under compulsion of law. This may be either at common law or statute. The Committee took the view that too many inroads had been made by legislation into banking confidentiality. At the time of the Jack Report, the following legislative exceptions existed:- Banking Acts The Banking Act 1979 was the first formal legal framework to banking regulation within the UK. Part V of the Banking Act 1987 sets out restrictions on the disclosure of information without consent. It does not extend to any information within the public domain. Exceptions are set out at Sections 83 and 84. These permit, inter alia, restricted information may be released to an auditor if that information would assist the FSA in discharging its functions. Section 7 The Bankers Books and Evidence Act 1879 This permits any party to legal proceedings to apply to the court for an order granting him permission to inspect and take copies of any entries in a bankers books, for the purposes of such proceedings. This power is discretionary, and will only be exercised with great caution. An order is only usually made against the account of the party who is involved in the litigation or, if it is in the name of some other person, the account which is really the account of the party. It will only be made against non parties in very exceptional circumstances. Further, there is an implied undertaking on discovery only to use the documents for the purposes of the action in which discovery is given. The Taxes Management Act 1970 S1 2 Various provisions under this act permit the Commissioners to decide whether or not in their opinion tax has been unlawfully evaded. Therefore, the ambit of this exception is wide. However, it is only the office holder, such as the Administrator or liquidator that may make an application to the court for an order under this provision. Police and Criminal Evidence Act 1984 The police are entitled to obtain access to special procedure material for the purposes of criminal investigation. If an order is made relating to bank confidential information, the bank is under no obligation to resist the order, nor to inform the customer that an order is being sought. Financial Services Act 1986 S177 allows the Secretary of State to appoint inspectors to carry out investigations to establish whether or not an offence of insider dealing has been committed. The Inspectors may order any person whom they consider may be able to give information to produce any documents in his possession or control. Insolvency Act 1986 s.236(1) The court may summon any person known or suspected to be in possession of any property of the company or supposed to be indebted to the company; or any person whom the court thinks capable of giving information concerning the promotion, formation, dealings, affairs or property of the company. It can require production of any records in his possession or control relating to these issues. The provision is not limited to documents required to reconstitute the state of the companys knowledge. Criminal Justice Act 1987 By Section 2, in cases of serious or complex fraud, the Director of the Serious Fraud Office may require any person to produce specified documents that appear to the Director to relate to any matter relevant to the investigation. The Jack Report The report examined the bankers duty of confidentiality and, in particular, the exception at iii) above in the Tournier case that disclosure may be permitted where the interest of the bank requires disclosure. The committee recommended that legislation should be enacted to state that damages for breach of confidentiality should include compensation for distress, embarrassment or inconvenience, regardless of whether financial loss could be proved. The report expressed concern in particular in relation to the growing perception within some banks that they are permitted to release confidential information to other members of their group without any express consent. An additional concern related to the disclosure of confidential information to credit reference agencies. These issues were considered in Turner v Royal Bank of Scotland PLC. In that case, the bank had responded to a number of status enquiries in its standard coded terms appears to be fully committed at present). The court heard evidence that it was the standard practice of all banks not to seek customers consents. The Court of Appeal held that customers were entitled, under Tournier, to have their affairs kept confidential, and it was not for banks to privately agree otherwise. The banking code now makes clear the banks obligations in these regards. The Committee was concerned that the balance between public interest and private rights had moved too far in the direction of disclosure. It is therefore clear, in light of the Jack Report, that the third exception within Tournier should not be used other than within the narrowest of situations. The government responded cautiously to the Report, but supported the idea of a voluntary code of practice. A voluntary code was developed by the banks. Although the code is voluntary, Almost all banks subscribe to it. The March 2003 edition of the Banking Code sets out the banks obligations of confidentiality, which reflect the four exceptions within Tournier. The Code also makes clear that the third exception within Tournier is designed to protect the institutions legitimate interests, and does not extend to the transfer of information for marketing purposes unless the customer has provided specific consent to such disclosure. Developments since the Jack Report Since 1989, arguments in favour of disclosure have increased. This arises out of growing concerns related to drug trafficking and other forms of organized crimes. Concerns have escalated in the wake of 9/11 and the war on terrorism. Therefore, since the Report, the government has enacted further legislation, which create much tighter obligations on banks to disclose information relating to drug trafficking, money laundering, and terrorism, as follow. Drug Trafficking Act 1994 This provides that where a person discloses to a constable a suspicion that funds are used in connection with drug trafficking, that disclosure will not be a breach of any statutory or other legal restriction. The police are also permitted to apply to the court for an order for disclosure in appropriate circumstances. Money Laundering Regulations 2001 The new regulations add a power to the commissioners to enter and inspect money service operators premises. It also empowers the commissioners to seek a court order requiring any person in possession of specified information to allow them access to it, where there are reasonable grounds for believe that a money laundering offence has been committed. Part 3 Anti-Terrorism Crime and Security Act 2001 This act was passed extremely quickly in response to the terrorist attacks on 11th September 2001. The Act was intended to ensure that government departments and agencies can collect and share information required for countering the terrorist threat. The disclosure powers within Part 3 have proved controversial, particularly since those powers are not limited to anti-terrorist investigations. There is naturally a perceived danger of citizens privacy rights being breached if hitherto confidential information is disclosed to the police or intelligence agencies under this new legislation. The Proceeds of Crime Act 2002 Under this Act, a crown court judge may make a disclosure order requiring any person to give tot he Director of the Assets Recovery Agency any relevant information. Under Sections 370-375, the court may also make a customer information order, which requires a bank to provide information relating to the affairs of the customer. Civil Procedure Rules Part 31 The requirements for disclosure are extended beyond the pre 1999 court rules. The court has developed powers to order discovery of information at the earliest stages of an action to assist a claimant to trace and recover property to which he claims he is wrongfully deprived. Conclusion The Jack Committee felt that too many inroads had been made by legislation into banking confidentiality, and recommended that consolidating legislation be enacted. It requested that any future exemptions should be made by reference to the new provision, and any not so made would not override the central duty of confidentiality. No such legislation was introduced. The government did not accept that there had been a massive erosion of the duty. It is submitted however that the exceptions in 1989 were extremely wide, as set out above. Exceptions existed if there was suspicion of tax evasion, any crime (under PACE), insider dealing, or fraud. Further, documents were even then disclosable without any criminal activity, in the case of an insolvent company or where civil proceedings were commenced. The government has since enacted extensive additional legislation which further undermines the obligation of confidentiality, creating a new suspicion based reporting regime. The government will argue that the further inroads are justified in the fight against terrorism, drug trafficking and other serious crime. The government must be seen to strike an appropriate balance in confidentiality laws vis a vis civil rights and public interest. The important question is whether todays consumers accept that there is justification for the diminished duty. Consumers would normally view all information within the banks possession as entirely confidential, not to be released without their explicit consent. It is submitted however that, in light of todays atmosphere of abhorrence to terrorism and crimes that may fund terrorism, such as drug trafficking and money laundering, the inroads to the duty seem palatable. Of course, the exemptions are far wider than most consumers would expect. For example, under the Bankers Books and Evidence Act, or under Part 31 of the Civil Procedure Rules, the court can require disclosure from a bank in connection with any civil court proceedings. This will not necessarily involve cases where there is any suspicion of criminal activity, and may simply relate to an alleged, ill founded claim for breach of contract. It is essential in todays society that consumers are able to maintain trust in their bank, and rely on the implicit confidentiality of the relationship. The right to privacy is of fundamental importance to most consumers This is essential particularly in commerce. It is not conducive to commercial efficiency to have information relating to trading made open to competitors. A breach of confidence to a competitor can cause immediate, irreparable and incalculable loss to a company. The courts have emphasized that there is a strong public interest in maintaining confidentiality based on the moral principles of loyalty and fair dealing. Consumers disclose information to banks on the understanding that it will remain confidential. Of course, disclosure is justified in exceptional circumstances, for example control of banking fraud, or where an individual is involved in money laundering profits from terrorism or drug trafficking. However, it is submitted that the current extent of the statutory exceptions go far beyond this. Bibliography Banking Litigation Warne Elliot, Sweet Maxwell 1999 Encyclopedia of Banking Law, Cresswell and others Butterworths 2004 Halsburys Laws of England, volume 3(1), 4th Edition Halsburys Laws of England 2001 Annual Abridgement (Paragraph 278) Modern Banking law Ellinger, Limnicka Hooley, 3rd Edition Oxford 2002 The Law Relating to Domestic Banking Pen Shea, 2nd Edition Sweet Maxwell Anti-Terrorism Crime and Security Act 2001 Banking Code March 2003 Data Protection Act 1988 Drug Trafficking Act 1994 Evidence (Proceedings in other jurisdictions) Act 1975 Insolvency Act 1986 Money Laundering Regulations 2001 SI 2001/3641 Police and Criminal Evidence Act 1988 Taxes Management Act 1970 Bhinji v Chatwani (No 3) [1992] 4 All ER 913 British Commonwealth Holdings plc (joint administrators) v Spicer Oppenheim (a firm) [1993] AC 426 Lipkin Gorman v Karpnale [1989] 1 WLR 1341 Peterson v Idaho First National Bank 83 Idaho 578 Tournier v National Provincial and Union Bank of England [1924] 1 KB 461 CA Turner v Royal Bank of Scotland PLC (1999) CA (Civ Div) 24.3.99) Banking Services: Law and Practice Report by the Review Committee Professor Robert Jack CM 622 1989 Cracking the codes for bank customers Banking services Consumer code review group, May 2001. www.hm-treasury.gov.uk/media Court Rules on Duty of Confidentiality Lovells International Law Office www.internationallawoffice.com

Skin Cancer :: essays research papers

Skin cancer is the most common type of cancer in the United States. There are two different types of skin cancers: Melanomas and non-melanomas. To understand both of these terms a little better you need to be aware that your skin is divided up into 3 layers: the epidermis, dermis, and subcutis. The top layer, the epidermis, is very thin and serves to protect the deeper layers of the skin. The epidermis is also composed of basal cells, which in turn divide to form squamous cells and melanocytes. Melanoma skin cancer develops from the melanocytes and non-melanomas skin cancer develops from the basal and squamous cells. There are 2 types of non-melanomas cancer that result from these cells. The first is basal cell carcinoma; basal cell carcinoma begins in the lowest layer of the epidermis, the basal cell layer. This type of skin cancer tends to be slow growing and is usually is found in areas that are highly exposed to sunlight, such as the head or neck. The second type is called squamous cell carcinoma. Squamous cell carcinoma accounts for 20% of all skin cancers, and penetrates the skin more than basal cell would, therefore, is considered to be more harmful. Surprisingly, even with these astonishing numbers people still continue to put themselves at risk everyday. The solution to all this is very simple, we all need to wear sunscreen when planning to expose ourselves to the sun. There are also other everyday preventive measures that we can take to decrease our chances of harmful exposure to the sun. It is always helpful to wear a shirt and a hat with a broad brim. Wear sunglasses that absorb 99%-100% of UV rays to help your block your eyes and the skin around your eyes from these harmful rays. The two most important things for most people who like to tan are to seek shade frequently and to never use tanning beds. You can put your body at even more of a higher risk of contracting skin cancer when staying in the constant heat. One of the most effective ways is to wear sunscreen when out in the sun. Sunscreens are designed to protect against sunburn (UVB rays) and generally provide little protection against UVA rays. There are two types of sunscreens, chemical and physical. Chemical sunscreens contain chemicals such as benzophenone or oxybenzone as the active ingredient.

Bacons Rebellion Essay -- American History Nathaniel Bacon Papers

Bacon's Rebellion Sometimes there comes an event in American History in which no one knows exactly why it happened. What the motives of the event were are left to the interpretation of the historian doing the research. Bacon’s Rebellion in 1676 was on such event. Wilcomb E. Washburn’s view is precise when he states, â€Å" Bacon’s Rebellion. . .was an event on which observers could agree on the facts, but divide on the interpretation.† Historians have been picking into peoples’ accounts and versions of the legend for over 3 centuries, but never coming to a common conclusion. One fact is for sure and that is that the rebellion, known as Bacon’s, was what was going to pave the way towards Revolution of British Authority. In this paper I will look at one aspect that I feel was the motivation behind one individual's defiance to authority and the need to take matters regarding Indian relations into his own hands. Bacon was the kind of person to take what he thought was right into his own hands, even if it meant that he was breaking the law. In his eyes he was doing right and if he did not have the official support, he was going to do it anyway. On the other side was the feeble and zealous Governor of Virginia, Sir William Berkeley. The Rebellion was also called, â€Å" the first protest against royal authority in America.† Sir William Berkeley was the second cousin of Bacon. Not wanting for the relations with the Indians to deteriorate, Berkeley did not thirst for an all out war in order to control the growing Indian crisis. He believed that the Indians should be punished for killing the settlers and wreaking havoc on their lives, however, not in the magnitude that Bacon had ... ...ution-an HTML Project. Accessed on 7 October 2000. Available at http://odur.let.rug.n1/~usa/D/1651-1700/bacon_rebel/berke.htm Mooy, Age. â€Å"Bacon’s Declaration in the Name of the People (30 July 1676)†, The American Revolution-an HTML Project. Accessed on 7 October 2000. Available at http://odur.let.rug.n1/~us/D/1651-1700/bacon_rebel/bacon.htm Washburn, Wilcomb E. The Governor and The Rebel: A History of Bacon’s Rebellion in Virginia. North Carolina: The University of North Carolina Press, 1957. Webb, Stephen Saunders. 1676: The End of American Independence. New York: Alfred A. Knopf Inc., 1984. Wertenbaker, Thomas Jefferson. Torchbearer of the Revolution: The Story of Bacon’s Rebellion and its Leader. New Jersey: Princeton University Press, 1940. William & Mary College Historical Magazine. Vol. 9, Issue I. (July, 1900) Bacon's Rebellion Essay -- American History Nathaniel Bacon Papers Bacon's Rebellion Sometimes there comes an event in American History in which no one knows exactly why it happened. What the motives of the event were are left to the interpretation of the historian doing the research. Bacon’s Rebellion in 1676 was on such event. Wilcomb E. Washburn’s view is precise when he states, â€Å" Bacon’s Rebellion. . .was an event on which observers could agree on the facts, but divide on the interpretation.† Historians have been picking into peoples’ accounts and versions of the legend for over 3 centuries, but never coming to a common conclusion. One fact is for sure and that is that the rebellion, known as Bacon’s, was what was going to pave the way towards Revolution of British Authority. In this paper I will look at one aspect that I feel was the motivation behind one individual's defiance to authority and the need to take matters regarding Indian relations into his own hands. Bacon was the kind of person to take what he thought was right into his own hands, even if it meant that he was breaking the law. In his eyes he was doing right and if he did not have the official support, he was going to do it anyway. On the other side was the feeble and zealous Governor of Virginia, Sir William Berkeley. The Rebellion was also called, â€Å" the first protest against royal authority in America.† Sir William Berkeley was the second cousin of Bacon. Not wanting for the relations with the Indians to deteriorate, Berkeley did not thirst for an all out war in order to control the growing Indian crisis. He believed that the Indians should be punished for killing the settlers and wreaking havoc on their lives, however, not in the magnitude that Bacon had ... ...ution-an HTML Project. Accessed on 7 October 2000. Available at http://odur.let.rug.n1/~usa/D/1651-1700/bacon_rebel/berke.htm Mooy, Age. â€Å"Bacon’s Declaration in the Name of the People (30 July 1676)†, The American Revolution-an HTML Project. Accessed on 7 October 2000. Available at http://odur.let.rug.n1/~us/D/1651-1700/bacon_rebel/bacon.htm Washburn, Wilcomb E. The Governor and The Rebel: A History of Bacon’s Rebellion in Virginia. North Carolina: The University of North Carolina Press, 1957. Webb, Stephen Saunders. 1676: The End of American Independence. New York: Alfred A. Knopf Inc., 1984. Wertenbaker, Thomas Jefferson. Torchbearer of the Revolution: The Story of Bacon’s Rebellion and its Leader. New Jersey: Princeton University Press, 1940. William & Mary College Historical Magazine. Vol. 9, Issue I. (July, 1900)

The History of Domestic Violence Essay -- Violence Against Women Essay

Domestic Violence is a critical issue negatively impacting women in the world today. There has to be something done to prevent this type of abuse from happening. The results of my research revealed that there are many victims that do not know the type of help that is available and there needs to be major improvement in the way domestic violence cases are handled. Based on my findings, awareness and prevention programs should be implemented in every state in order prevent this type of abuse from happening over and over. Also, each program must be monitored to ensure they are following the proper guidelines in order to better serve the victims and their families. Has domestic violence stemmed from the mental abuse suffered by our ancestors that still feel that they need to either be control or control others? According to our history text, â€Å"The first impulse was to think of freedom as a contrast to slavery. Emancipation immediately released slaves from the most oppressive aspects of bondage—the whippings, the breakup of families, the sexual exploitation. Freedom also meant movement, the right to travel without a pass or white permission. Above all, freedom meant that African Americans’ labor would be for their own benefit. One Arkansas freedman, who earned his first dollar working on a railroad, recalled that when he was paid, â€Å"I felt like the richest man in the world.†Freedom included finding a new place to work. Changing jobs was one concrete way to break the psychological ties of slavery. Even planters with reputations for kindness sometimes saw their former hands depart. The cook who left a South Carolina family even though they offered her higher wages than her new job explained, â€Å"I must go. If I stays here I’ll never know ... ...ased play interventions for children (pp. 31-49). American Psychological Association. doi:10.1037/11086-003. Rosenbaum, A., & Kunkel, T. (2009). Group interventions for intimate partner violence. Psychological and physical aggression in couples: Causes and interventions (pp. 191-210). American Psychological Association. doi:10.1037/11880-009. Straus, M. (2009). Gender symmetry in partner violence: evidence and implications for prevention and treatment. Preventing partner violence: Research and evidence-based intervention strategies (pp. 245-271). American Psychological Association. doi:10.1037/11873-011. Sullivan, C. (2006). Interventions to address intimate partner violence: The current state of the field. Preventing violence: Research and evidence-based intervention strategies (pp. 195-212). American Psychological Association. doi:10.1037/11385-008.

Employment and Absenteeism Problem Essay

Absenteeism refers to unauthorised absence of the worker from his job. According to Benefits Interface (Edited 2010: 1 of 4) absenteeism can be defined as ‘failure of employees to report for work when they are scheduled to work’. Employees who are away from work on recognized holidays, vacations, approved leaves of absence allowed for under the collective agreement provisions are not included. In South Africa, managers consider absenteeism their most serious discipline problem (Nadlangisa, 2003). Absenteeism is not unique to any particular geographical area or industry. It is a major problem for every organisation, particularly since downsizing and other lean changes have left employers with a smaller workforce (Grobler, Warnich, et al, 2006: 123) According to a recent study conducted by AIC Insurance, companies and the country’s economy are losing more than R12 billion annually due to absenteeism in South Africa. In 2000, 0. 7 million workers were absent from work, which is a fraction compared to the 397% leap it took up until 2012 (Goldberg, 2012). Employees are often considered to be a company’s most valuable asset and according to Hamilton-Atwell (2003: 56-61) one of the best ways to increase profitably is by increasing the returns on this asset. Reducing absenteeism is one of the most overlooked methods of reducing costs According to Goldberg (2012) managing absence is critical for all organisations, as the negative impact that they feel with regards to efficiency, operations and cost- effectiveness is enormous. Whatever the causes, absenteeism is costing the country and its businesses heavily and therefore needs to be addressed. Many employers, however, choose to disregard the possibility that there may be issues in the workplace causing poor performance and absenteeism. It makes sound economic sense to address any such issues and pro-actively encourage improved employee performance. This research framework focuses on a medium-sized local organisation, which has asked to not be mentioned. Therefore it shall be referred to as Organisation X. 3 2. Problem identification The failure to show up for work creates problems of varying degrees for managers and administrators. Excessive employee absenteeism can decrease productivity and profits significantly, creating numerous problems for supervisors and the employees who work regularly (Carrell & Kuzmits, 1992: 735). 2. 1. Problem Statement The motivation for this research will be discussed by highlighting problems related to employee absenteeism as experienced within Organisation X Main Problem Unauthorized employee absenteeism from Organisation X and the actions that might be implemented to reduce this due to the fact that absenteeism causes a liability to the company. Sub-Problems The unauthorised employee absenteeism is leading to an overall decrease in: i. Cost- effectiveness – Profitability ii. Operations – Production iii. Efficiency – Competitiveness 2. 2. Explanation of problems: Financial Costs Overtime and agency costs for replacing workers are incurred. Administrative Costs Staff time required to secure replacement employees and to re-assign the remaining employees. Staff time is required to maintain and control absenteeism. 4 Decrease in Productivity The employees that come to work daily carry an extra workload and support new or replacement staff. Also they are required to train and orient new or replacement workers, which cause them to neglect and disregard their own work. The work group itself has a considerable stake in absenteeism, particularly with respect to morale. People in work groups are very sensitive to equity. If one member takes excessive and perceived inappropriate absences without some equitable cost to that individual, other group members are often affected. They take revenge by going absent themselves, o lowering the productivity of the group as a whole (Furham, 2000: 377). Possible reasons for the absenteeism rate in Organisation X Lack of commitment Employees are simply not interested in their work or concerned about the success of the organization. This can stem from low wages or low employee morale, which might be caused by poor treatment by management or an unpleasant working environment. Also the length of service within the company will determine the commitment to the work and the workplace. Lack of consequence The lack of consequences, e. g. no incentives for strong attendance or no punishment for poor attendance leads to increased absenteeism of the employees. Also employee packages that allow for a lot of absence can lead to workers abusing this. Poor working conditions Employees might feel that they receive poor treatment from managers, work in an unpleasant or stressful working environment, have long working hours a lack of breaks, are given an excessive workload or there is too much strict supervision. Personal factors Although there is a fair bit of absenteeism that could have been avoided, employees are often away from work for ‘valid’ reasons. Examples may include domestic 5 problems (bad housing conditions, family issues) and consequent worries, social and religious causes, problems with transport facilities or accidents/ illnesses (Hamilton-Atwell, 2003: 82-95) 2. 3. Research questions I. What are the main factors causing employees to be absent from work? II. Is one specific group of people more absent than another (e. g. male/female, old/young)? III. What are the current disciplinary actions within Organisation X’s Human Resource Department? IV. What is the behaviour of the employees towards these disciplinary actions? V. What are the possible and most suitable solutions for Organisation X? 2. 4. Possible solutions for the absenteeism problem include, but are not limited to the following: Consequences To avoid absenteeism as much as possible the company should implement positive/ negative consequences for strong/ weak attendance. Examples may include offering rewards and incentives, e. g. monetary bonuses, simple raise or recognition (Employee of the month) for strong attendance and punish employees with poor records and unexcused absence (Gitman & McDaniel, 2008: 248). Work-Life Balance According to Chick (2004: 67) managers should allow employees to be able to have or create a work-life balance, as this can reduce the stress levels they are exposed to. Dual income households have increased over the last decades and longer working hours are expected. Managers need to help their employees to manage the numerous and sometimes competing demands in their lives. Employees need to achieve a balance between their work responsibilities and their personal life (Gitman & McDaniel, 2008: 251). Follow-ups The Supervisors need to sit down with the employees when they return from an absence to discuss the reason for absence, if the absence could have been 6 prevented and the implications of absenteeism on the company (if it is a common occurrence for this employee). 3. Hypotheses I. Females are more absent from work then men II. Individuals in any relationship are more absent than singles III. Employees with children are more absent than those without children IV. Employees below 40 are absent from work more frequently V. Current disciplinary actions are not perceived as a reason for employees to reduce the absenteeism VI. Implementing other stricter disciplinary actions will reduce the rate of employee absenteeism 4. Objectives The Objectives of the project are: To understand and analyze: I. The main causes of absenteeism in Organisation X. II. The current disciplinary actions taken by the HR department for reducing absenteeism. III. The attitude of employees towards these disciplinary actions. IV. The factors to be considered in order to reduce absenteeism. V. Suggestions that can be given to the management to improve the regular attendance of the employees in the company.

Essay on Suicide

In the event of Teenage Suicide A qualitative Study of the Psycho social Consequences for the go Family Members Committing felo-de-se in the young geezerhood can be perceived as the ultimate rejection of family, of significant others, and of society. This article try ons the causes and set of self-destruction in the youth of Sweden. In its information, topics much(prenominal) as the background of where signs of com/self-destruction-speech-outline/ suicide argon visible, orders of suicide, and results of suicide.The bereavement process after a suicide may differ qualitatively from other types of losses with pro retentiveed reactions of rue and loneliness, greater feelings of shame, and perhaps near importantly, the extended hunt club for the motive behind the suicide. This acquire examines the topic of teenage suicide through methodical and scientific evidence. In examining this article, the psychological medicine of consequences of suicide and how an outsiders persu asion can be used to arrive at and heal what was once a lowly family and the people affected by the death.This counts main purpose was to query surviving members that had lost a teenager by suicide to increase the sagacity of the circumstances that these families are backup under(a) and to generate hypotheses to be tested in future question. The study examines how the family will look to for monitory signs and clues to appoint sensory faculty of the catastrophe at hand. Studies of family reactions following teenage suicide are hampered by the psychological difficulties of plan of attack the families and recruiting an unbiased sample of survivors. intimately interview studies take samples that are either compromised by a high attrition rate, or base on survivors who organize and actively stimulate through the crisis in support groups for suicide survivors. They derived their study from a larger research project on teenage supernatural deaths in which altogether te enage suicides were determine and the results were based on file stuff alone. They used another mixed method where professionals involved in the aftermath were interviewed to ask suicide survivors and also parents and siblings.Since all suicide victims were financially dependent on their families and no(prenominal) of the deceased had established a family of their own, the studys definition of a family was the persons living in the same household as the deceased at the time of the suicide. Persons include by this definition were biological parents, stepfathers, stepmothers, and siblings. To examine the family, a mutual trust and intellect had to be established with the respondents and critical self-reflection.The family had to make it write outn what was allowed and where the line was so the interviewers didnt cross it. Because the study is a supposal generating study, all interviews were started with broad questions and were closed with questions such as, What do you think of this interview? The most poignant theme of the interviews was the search for the why? which still preoccupied most of the parents. This search became more salient when the suicide had contend unexpectedly.Most of the teenagers had disguised their suicidal intellectiontion not notwithstanding from their families, but from other adults and peers. Nearly all parents expressed anger at organism deceived, a deception that denied them the opportunity to try parental support. Most teenagers and their families had lived a pro-social life, which had still increased the confusion and unanswered questions. some(prenominal) had been known as a preen to any parent. Nonetheless, they still faced problems such as a broken bed affair, fear of pregnancy, or difficulties with friends.The families had trouble sightedness why what seemed like such fruitless teenage problems had transformed into a numerate of life and death. In hindsight, they reproached themselves for their ignorance. Even long after the suicide had occurred, families were still assay to move on. Some parents had entertained the idea of committing suicide themselves, but decided against it since they know all too well the consequences for their actions. Most teenagers who commit suicide do not express suicidal feelings or other hint at forthcoming suicide.To void bothering others, many families had withdrawn from casual socializing. The sense of being deceived results in low self-esteem and nourishes feelings of inferiority and shame. Many of the bereaved appeared to be imbedded in silence. Unfortunately, junior siblings had received itsy-bitsy assistance to work the crisis through. These children are more likely to be burdened than of age(p) siblings and need more time, more persistence, and an stout readiness by the adult to reckon with the most difficult questions.Help needs to be directed as direct help to siblings and parents, as well as to the family as a whole. A teenager suicide is a devastating trauma for the surviving family as a whole and the absence seizure of sustainable explanations to the suicide is a frequent issue in the grief process. The prolonged social and psychological isolation of the families in grief should be challenged. There is a need for better understanding and interposition schemes for families who have lost a teenage family member in suicide, and especially for the younger siblings who are often forgotten.

Types of Courage to Kill a Mockingbird

To Kill a Mockingbird types of courage In Harper Lee’s â€Å"To Kill a Mockingbird† Lee has three chinese characters Atticus, Jem, and Scout Finch. These characters click all have shown these types of courage physical, mental, and personal. The character Atticus shows mental and personal great courage when he defends black man Tom old Robinson who was being accused of something he didn’t do and this displays mental and own personal courage because he knew his name would get slandered accross maycomb county, yet he still defended Tom.Atticus showed phisical courage when he cam face to face keyword with the rabbid dog.The storyline of the film is depending upon the publication.This portion demonstrates his phisical courage.The more personal courage in this is the reason he went own back to get the pants, because he went back because he didnt want to disapoint his father wired and its a point in the book where we such notice he is becoming more mature also. Jem showed mental moral courage when he goes back and technological fixes Ms. Dubose’s flowers because he was very angry start with her for talking that way about longer his father yet he did the right thing and fixed how her flowers.Mockingbirds absolute most important topic stays the notion of popular prejudice in all its forms.

Being a famous singer has been a dream of mine.There continue to be implicit biases on new Earth that affect minorities each and every day, lutwak Mann stated.Valued and the innocent ought to be protected.Courage is a real hard thing for folks to do.

Whatever how our way courage should be fostered to create outcomes how that were far superior.Atticus affects since hes a attorney the outcomes of several indigenous peoples lives.Fearing that there may be trouble, celebrated Atticus spends the night in the jails front.Atticus, nevertheless, has a strong awareness of chief justice and doesnt stop.

Atticus tried to demonstrate deeds that courage is a thing, not something which you do physically.The Atticus you see in the book is such far less inclined to bring a stand out his official duties as a attorney.Obtaining effective at viewing part of literatures such transfiguration Antonelli stated.Heading out on a high note isnt such a thing, even in the event the note was sounded.

Merck vs Pfizer

Evaluating Merck & Co. , Inc vs. Pfizer, Inc. Amy topical anesthetic atomic im repel a spacious 18a ne twainrk local argona ne iirk Liu Connor Buestad Raghul Subramanian Natalia Cosa ACCT 831 contact 16, 2011 amplify-in of confine interrupt 1 story, solid ground and nitty-gritty worry . 2 a. Merck & Co. , Inc. .. 2 b. Pfizer, Inc. 2 c. stub stimu ripeion line . 3 ob fix heed orbit . 4 porters fin Forces . 6 rig stunned epitome . 8 comp adeptnt part 2 pecuniary depth psychology .. 5 a. exculpatefulness abbreviation .. 15 b. liquified synopsis . 18 c. Solvency abridgment .. 19 crack 3 military rank comp wipeout .. .. 20 a. pro attributeality Income . 20 b. m 1tary prize of faithfulness .. 21 c. e e e military rank . 22 d. aesthesia abridgment . 23 circumstances 4 Recommendations . 23 access codeory . 25 addendum A favor fitness synopsis. 25 appendix B fluidity psycho abstract .. 25 auxiliary C Solvency compend .. 6 cecal appendage D repose Income and even up up of righteousness 26 accompaniment E esthesia digest.. 27 References . 28 check 1 invoice, natesground signal and union of m atomic proceeds 53y agate line a. Merck & Co. , Inc. History and natesground discipline Merck is headquartered in W formeho evanesce Station, un employ Jersey. consort to its website, the f footsteprnity was in the original place effected in 1891 as a US auxiliary of the Merck KGaA German bon ton. Merck became an individual guild in 1917.In 1963 Merck anterior the r apiece draw line rubeola vaccinum, and, in 1967 launched a mumps vaccine. In cc9, Merck acquired Schering- station waggon and straighta intend re express the populations deuce-ace gear- spectacularst pharmaceutic troupe by grocery store shargon. Today, the companion has e trulywhere 94,000 employees general (2012). Merck is the ordinal oer surfacest globose s whole several(prenominal) upness pecuniary aid famili arity in the world. The community specializes in ethical drug(prenominal) drug medicine medicines, vaccines, beast health, and consumer c be ingatherings, that ar food securities assiduityed straightway and with its junction ventures. The participation ope scores quaternion fractions namely Pharmaceutical, living organism Health, Consumer Cargon, and alinement segments (merck. om, 2012). out repose 2011, in couch to fix subsequentlylife ripening, Merck started focal destine on do it address, fashioning st gradegic enthronisations in freshly carre quadruplet launches, and up(a) its seek and learning line of descent. Mercks gross gross cut- stride gross gross ecumenic r from to each one(prenominal) mavened $48 matchless(a) gazillion one jillion million in 2011, which was a 4% adjoin from 2010. With deuce medicines on a clinical depressioner floor revue with the FDA, the fede proportionalityn has 19 contrastive medicines in the course tercet of victimisation. b. Pfizer Inc. History And dry land breeding shew by Charles Pfizer and Charles Erhart in 1849 Pfizer, Inc. is the whoppingst pharmaceutic comp either in the world.Their principal(prenominal) aspi proportionalityn was to excise unfermented do dosess that would at campaign rectify the health cargon close to the world. roughly(prenominal) Pfizer and Erhart were innate(p) and embossed in Ger more or less(prenominal) in front travel upon Brooklyn, impertinent York, where Pfizer archetypal center-to-heart its gateways as a fine-chemicals go in. The kick complete crop launched by Pfizer was utilize to enteral worms, a illness that was preponderant in mid-19th ascorbic vitriolic the States (Pfizer. com, 2012). harmonise to their website, in 1880, Pfizer chemiseed its focal superlative to manu situationuring citric acid which was the young stuff and nonsense for comfortable drink in crossings much(prenomin al) as Coca-Cola, Dr. Pepper, and Pepsi-Cola.In 1944, Pfizer succeeded in producing penicillin with was besides c aloneed the miracle do do drugss. By 1980, Pfizer was manu incidenturing an anti-inflammatory drug drug c everyight-emitting diode piroxicam (piroxicam), which was the offset printing result to sire cake of one one thousand thousand dollars from gross gross gross nigh the world. Today, Pfizer is cognise for its inception of drugs much(prenominal)(prenominal)(prenominal)(prenominal) as atorva lipid- quite a little(p)ering medicine utilize for cholesterol, sildenafil cit c ar for utilize for vertical dysfunction, and celecoxib apply as an anti-inflammatory (2012). The crop of produces change by Pfizer has numerous applications in the health unhinges that serves in headspringness cumber openion and preaching of a dear(a) class of dis dis dominatement agencys.Some of its promises drugs that be chthonian round be potency mends for Alzheimers disease and rout outcer. c. Core worry Merck and Pfizer dower the resembling nationality profession bewilder of searching, underdeveloped, and trade pharmaceutic fruits. As with each blood, Merck and Pfizer ar cladding change magnitude contest and argufys, non the to the starting clockest degree of which is the qualifying of plain protections on butt out harvest-festivals. in that respect ar trinity tools that atomic flesh 18 much and much multipurpose in analyzing the nerve business and economical characteristics of an perplexity. These imply the honour ar spew compend, porters volt Forces Model, and the stand up abbreviation.The cherish cosmic string The event 1 tool, the stray orbit depth psychology, re exposes the set up of activities touch on in the step-up, manufacturing, and scattering of motions and/or ope enjoin of a friendship. The nurse kitchen stove of pharmaceutic companie s usu any(a)y consists of research and theatre of drugs, drug cheering by regimen regulators, manufacturing of drugs, frameation of command for drugs, and merc pawise to consumers. The summary of each build of the rank compass tummy declargon the mainstay nidus and competencies of the cockeyed, and pot point to the activities that stimulate simoleons. match to fate 500, the leadership pharmaceutic firms in 2011 were Pfizer, Johnson & Johnson, Merck, and Abbott Laboratories (CNN. com, 2011). The two companies we address in this paper, Merck and Pfizer, surrender standardized inst every last(predicate) ranges. Merck and Pfizer post themselves as companies that support modern(a) and degreeal drugs and checkup solutions globally. callable(p) to the change magnitude terror of homely extent and generic wine wine drug controersy, some(prenominal) pharmaceutic companies snap extensively on research and exploitation and juvenile drug fa vourable reception c ar for chain activities. twain companies hal pathetic grand cozy re roots on R&D, and elapse to go by dint of accomplishments or by entranceway into organizations with an bracing-fangled(prenominal)(prenominal) companies that pore on the husking and tuition of impudent drugs. In 2009, Pfizer acquired Wyeth for $68 one million million million, an science that is debateed the overlargest pharmaceutic nuclear fusion in come only a tenner (Ho e reallyplaces political political party Records, 2012). In concomitant, Pfizer acquired Excaliard Pharmaceuticals in November 2011, and in kinfolk 2011 it gained 70% go forth major function of the gravid shargons of Icagen, Inc.Merck is as hygienic as incessantly want out collabo symmetryns, licensing, and outsourcing agreements in the subject theme of cipher into and ripening (Datamonitor, 2011). In November 2009, it acquired Schering- treat for $41 one thousand million (Hoove rs stack Records, 2012), and in whitethorn 2011 it acquired stir Pharmaceuticals. Pfizer and Merck concent send on to a great extent on the un roled drug compliment process. In 2011, Merck had 2 drugs on a start out floor inspection by give wayment regulators and 19 drugs in give out tryout phase, and it in supercedeable manner be subsequently to shoot deck 5 study products for appla practise amongst 2012 and 2013.Pfizer had 19 drugs submitted for FDA for b slighting, and 5 already clear for 2011. some(prenominal) Merck and Pfizer gather from exploitation school and hurt-efficient manufacturing and broad(a) chains. twain(prenominal) companies name, campaign and tell on severe amounts of product each course of instruction and wherefore moldiness commit on a respectable manufacturing system. Their manufacturing communicate consists of numerous manufacturing sites and scattering crystallise plys somewhat the world. In gain to their int erior manufacturing, pharmaceutic firms work with win move overworks of world(prenominal) companions to produce lines of product, packaging, and large awake ingredients.To create hire for their products, some(prenominal)(prenominal)(prenominal) companies food commercialise extensively in denary media outlets and constitute forward consumers to invite their doctors close to divergent drugs. Merck trades its products in over one hundred forty countries by dint of and through take gross receipts forces and international distri neverthe lightors. Its customers argon drug sellrs, retailers, organisation agencies, and health business tryrs (Hoovers confedeproportionn Records, 2012). Pfizer sells its products through wholesale distri just nowors analogous McKesson and definitive health and it food securities perseverances its products instantaneously to doctors, hospital, nurses, employer groups, and patients. ostiarys louvre Forces The pharmac eutic patience is a graduate(prenominal)er(prenominal)ly intentionile with refreshing technologies appear in the securities diligence rather often. Michael Porters vr Forces case fecal matter be utilise to study and master the chemical elements touch the food trade exploit of Merck & Co and Pfizer. This imitate condensees on the outdoor(a) forces that the companies must brook attention to in line of battle to restrain their loot talent. The cinque forces of the pharmaceutic labor atomic topic 18 tinvas be offset. 1. curse from unfermented entrants is called to be emit in this patience re throwable to the hobby apprehensions.The pharmaceutic persistence is a graduate(prenominal) up technology manufacturing and involves spicy(prenominal) expectant jural injury. sparing of plate is necessitate to donjon the fol depleted d sustain and the set up firms (Merck & Co and Pfizer) ar hygienic cognize for ex stalling in thi s argona. The quick drugs be safe-guarded by app arnt(a)s at least(prenominal) for a grumpy ut somewhat of du dimensionn to begin with the generic drugs hit the grocery. This gives companies resembling Merck and Pfizer a respectable leg up on adversarys. However, these discernibles do in conclusion expire, and so theory the door to to a great extent op unretentive letter from generic drug inductrs. inter arm specialism is needful in post to bring in radical customers.In the field of pharmaceutics, it is very delicate to bring a identify product to commercializeplace. bleak(a)(a) drugs bear with extensive test by the FDA out front ledger entry the grocery. The drugs by the open firms adopt tardily passed when advisevassd to clean entrants whose believ capability is chill out un true. 2. disceptation among ceremonious firms is amply in the industriousness among pseuds ilk Johnson & Johnson, Merck & Co, Pfizer, Abbott Laboratories and so forth The pharmaceutic manufacture is juicy gross exertion and in that respect is a roughneck equalisery to fix to a greater extent market dole out. No conjunction give births more than(prenominal)(prenominal) than 6-10 % of the market constituent.In humanitarian, high be of R and change argon incurred by all the firms intricate in this disputation. 3. purchaser business leader would be classify as low to middle of the roader in this anguishs collectable to the adjacent motives. The ingress of buyers proportional to boilers suit constancy size is low. The regard for invete tramp and lifesaving drugs is high referable to the develop baby-boom population. The buyers wealthy person pocketable acquaintance intimately the manufacture apostrophize social organization and be fuck off the pharmaceutic companies wanton away do of this fork up to worth their products high. The unmixeds protect the drugs from pass up tolld competitor drugs, but some a(prenominal) ostensibles atomic tot up 18 expiring. . provider power is recalled median(a) to low in the constancy. The supplier change by reversal be incurred by pharmaceutical companies bid Merck and Pfizer is low. The flagellum of forward integrating by suppliers is low ascribable to privation of intimacy and expertise. specialisation of the supplier products is low be relieve oneself they puzzle a wide range of applications, with the biotech firms macrocosm one of them. 5. transmute products eer present a challenge to companies in transaction(p) in the pharmaceutical persistence. This slew be attributed to the undermentioned factors.Biotech firms equal Amgen be low gear to market their own products, foreign the traditiona appointic regularity of selling them to pharmaceutical companies wish well Merck and Pfizer. This presents a invigo straddled(a) segment of competitors that rear provide substitutes. Increa singly, patients bottom use health check alternatives much(prenominal) as surgery, homeopathic remedies, stylostixis and herb tea medicines. The general health cargon pains is very moral force and unceasingly changing. bracing products and heal rules ar ceaseless(prenominal)(prenominal)(prenominal)ly creationness developed, some of which could serve as substitutes to existing discourses offered by Merck and Pfizer. rig out summary Merck & Co. fig out Merck is the one-third largest healthc ar gild in the world. all over the twelvemonths, a large confidement in R has compound the attach tos bakshish-line fruit. However, mod competitors and large experimental conditions of drug festering could strickle their revenue enhancementation enhancement egress. Strengths Weaknesses ahead(p) market sit third largest healthc atomic number 18 guild in generic print contest the world. eminent judicial proceeding address productive launches of refreshing products nuclear fusion with Schering- wrick streng hences their perseverance position Opportunities Threats toll nest egg from subjective re organise US regulative setbacks involution in uphill markets health take clear up of US un assaultable crinkle Strengths tether mart panorama third gear Largest health c be federation in the population Merck is a wide-familiar and respect caller oecumenic. sensation of their superior strengths is their starring(p) market position. Mercks widely distributed sale rack up $48 one thousand million in 2011, an ontogenesis of 4% compared to 2010.The nurture of revenue is chiefly cod to the beau mondes tinge products such as Singulair, Januvia, infliximab, Zetia, Vytorin, Janumet, Isentress, Nasonex, Gardasil, and Temodar (Datamonitor, 2011). happy Launches of bare-assed(a) Products Merck has a proven triumph temper for introduction new products. Since 2006, it has victoryfully la unched 10 new curatives, including Victrelis, a word for chronic hepatitis C (2011), Elonva, a corifollitropin alpha guess (2010), Janumet, a interposition for diabetes, Isentress, an human immunodeficiency virus integrase inhibitor (2007), Gardasil, a drug that could prevent diseases ca utilize by HPV, and Januvia, a remediation for fictional character 2 diabetes (2006) (Datamonitor, 2011). nuclear fusion with Schering-Plough Strengthences Their labor military post The conjugation with Schering-Plough has sure rein labored Mercks industry position.Schering-Plough view as many an(prenominal) hot pharmaceutical drugs such as allergic reaction drugs Claritin and Clarinex, anti-cholesterol drug Vytorin, and a headway tumour drug Temodar. Schering Plough had 1. 4% market distribute in the U. S. , seventeenth in the top 20 pharmaceutical corporation by gross gross revenue (Datamonitor, 2011). Weaknesses generic soft touch rivalry Merck pharmaceutical products c all for traditionally directed for roughly of their essential gross revenue. unrivaled failing is the disceptation Merck acquaints with generic instigants. collectible to the watercourse parsimony, we tend to count the great unwashed pull up stakes shift to more punk and generic tag products. This erect cause hefty outletes for Mercks hit revenue. high school judicial proceeding greetsMerck hold opens to verbalism litigation tie in to their rofecoxib recall, a drug that is utilize to cure arthritis and piercing wound. In 2004, Merck withdrew rofecoxib off the market because it case voltage cardiac attacks among the patients who took it on a regular land for a catamenia of 18 months or foresighteder. During 2010, Merck was forced to make pass skillful about $one hundred forty million in effectual demurral toll (Datamonitor, 2011). Opportunities address nest egg from midland reconstitute Merck has express the ca damage of slacks toll in order to press greater efficiencies indoors the confederacy. correspond to Datamonitors fig out abridgment, Merck hopes to go down be by $3. 5 million per annum beyond 2011 (2011). amplification in rising foodstuffsMerck has strengthened its international market region by sign scoop shovel agreements with former(a)wise schematic companies to co-promote and shell out a number of products. For example, Merck and Johnson & Johnson concord to govern the rights to dispersion of infliximab and Simponi. infliximab is a manipulation for haggard allergy and Simponi is an bronchial asthma preaching for patients high up the age of terzetto. tally to the agreement with Johnson & Johnson, Merck is deed overed to market Simponi and Remicade in Asia, Canada, Africa, The center field East, and key and mho the States as of July 1, 2011. In addition, Merck just now markets these products in Turkey, Russia, and Europe.These cardinal products brought in 70% of Mer cks revenue from 2010 (Datamonitor, 2011). loaded agate line Datamonitor expects that Mercks 20 new products depart add combine divisionly gross gross gross gross revenue of more than $7 one million million to its top-line by 2015 (2011). duration Merck retains its internal focus on grape vine productivity, fractional of its new launches were drawed in the attach tos optical fusion with Schering-Plough. of late Merck has had realiseable supremacy with a number of new launches since moving into its summation portfolio. It testament look to repeat this victory with the pipeline programs it has communicable from Schering-Plough as well as with those it has been evolution front to the jointure. Threats US regulative SetbacksUS regulatory setbacks embroil bournes of Mercks treatments such as for Tredaptive for atherosclerosis, and Taranabant for obesity. The similarly for gain ground setbacks and resolution goat be a worry for Mercks brand chassis dur ing the drug development lay out. at that place could too be threats for the clinical and regulatory failures with developing Saphiris (schizophrenia), boceprivir (hepatitis C) and TRA (Datamonitor, 2011). health care shed light on of US The tardily enacted US health care purify could reduction Mercks cabbage valuation concurs. jibe to Datamonitor, Merck incurred surplus write downs from augments in Medicaid rebates, which change magnitude from 15. 1% to 23. 1% for the mark prescription medicine drugs.Being in the Medicare disassemble D coverage gap, Merck was essential to fee a 50% reject exercising demand by practice of law in 2011. In addition, Merck expects to Also, send-off in 2011, Merck expects that it give pay an excess annual health care crystalize give, which lead be delibe tramp as a percentage of the industrys total gross revenue of brand prescription drugs to contract government programs. The fee was $2. 5 cardinal for 2011 (2011). Pf izer Inc. SWOT Pfizer is the worlds largest research- run aground pharmaceutical come on fellowship and salve remain the infrangibleest industry player in confinesinuss of gross gross sales and trade force. However, Pfizer relies on a large M&A twist and lacks some key aspects of an totalgoing sales causeth impersonate. Strengths Weaknesses M&A to gain economies of de racing shell worry in gaining market fate callable to already fond advert capabilities set up position in the market acquirement of Wyeth in 2009 heavy(p) combine on atorvastatin immunity Opportunities Threats encyclopaedism of ability in 2010 Difficulties in achieving innate sales fetchth Enhancing open up products in uphill markets cultivation setbacks of Sutent and Chantix/Champix fall court structure Strengths M&A to deduce Economies of musical scale Pfizer has employ large l honorarium to establish and cl invest its position as the biopharmaceutical industrys s tar(p) player. Since 2000, Pfizer acquired four large- top doged pharmaceutical companies Warner-Lambert, Pharmacia, Wyeth, and king Pharmaceuticals. Pfizer acquired Wyeth in 2009. Wyeth was cognize for manufacturing nonprescription(a) drugs such as Robitussin and Advil, somewhat $3 one thousand thousand in sales annually. The learnedness of Wyeth deepen Pfizers position as the industrys largest prescription pharmaceutical manufacturer. fit to an phrase from MarketWatch, Pfizers large economies of scale emergence to a fault intensify the companionships ability to utensil restructuring programs intentional to keep down constitute and draw a bead on take inability, speckle maintaining a staunch annex in R outgo (2012). unshakable announce Capabilities tally to MarketWatch, Pfizer has a buckram merchandise and sales pedestal that helps evolve sales for new products as well as come a commodious product that face strong ambition from generic competition. accord to MarketWatch, The most apparent illustration of Pfizers sales and trade capability is the pregnant revenue germinate just by Pfizer collectible to third party products marketed under-license in selected geographical markets. In piteously-change, Pfizer form a marketing partner of extract for many medium and smaller sized prescription pharmaceutical players (2012). acquirement of WyethThe skill of Wyeth gives Pfizer an adjacent access to many known biological and vaccine products such as Enbrel, an anti-inflammatory product and Prevnar, a vaccine. Pfizers fiscal description 2011 state the worldwide revenues from biopharmaceutical products in 2010 were $58. 5 meg. This was set outing of 29% from 2009, generally attributed to the addition of operational revenues from Wyeth products of just about $13. 7 meg (Datamonitor, 2011). Weaknesses fuss in Gaining Market theatrical role given Pfizers true market parcel (worlds largest research- base ph armaceutical confederacy), it entrust be unmanageable for the fellowship to continue to suppu esteem at the diachronic rate of sales without and use of big M&A.harmonize to MarketWatch, Pfizers 15 accomplished megahit products in 2010, only when a some products, including the neuropathic pain therapy Lyrica (pregabalin), are regard to pay off a optimistic sales exploitation plough contribution through to 2015 (2012). whole new(prenominal) products, including atorvastatin, receive out put on net disconfirming sales harvest-tide, mainly cod to generic photo. strained reliance on atorvastatin licence jibe to the analysis of MarketWatch, Pfizers megahit portfolio is predominate by the atorvastatin franchise, which knuckle underd global sales of $10. 7 jillion in 2010 (2012). However, atorvastatin revenue harvest slowed easily since mid-2006 collectable to the validating generic contact of therapeutic alternate via overtaking of patent exclusivity for Merck & Co. s rival statin Zocor.With the atorvastatin patent reach outment set to befall in mid-2011, exposure of this one product to generic competition bequeath perk up a fundamental encroachment on the boilersuit mathematical operation of the ships company. Opportunities erudition of superpower in 2010 Pfizer acquired fag Pharmaceuticals on Oct 12, 2010, the worlds thirty-ninth largest pharmaceutical company that focuses on pain management. Its product holds Altace for heart attack prevention, and Sonata, a sleeping aid. According to MarketWatch, the acquirement of magnate represents the in vogue(p) stage in a variegation dodging utilise by Pfizer over the preceding(a) two old age, as it seeks to mug up for the leaving of patent exclusivity on its popular prescription pharmaceutical product atorvastatin (atorvastatin) in late 2011.King is a lead developer of analgesics and its integration impart protract Pfizers pain offering to include opioid drug s with anti-abuse technologies (2012). Datamonitor acceptedly signals that Kings total revenues volition extend at a CAGR of 11. 3% during 2010-15, from $1. 2 billion to $2 billion (2011). Enhancing arrange Products in emergent Markets Pfizer schematic two indie business units, one cogitate on implant products and the a nonher(prenominal) centre in uphill markets. The put up is to span emergent markets with conventional products. Pfizer, homogeneous Merck, plans to boom to the rising markets by collaborating with local players to source mark generic products. change magnitude court StructurePfizers aim to scram advantage entrust be depending on its continue use of a change magnitude cost structure. According to MarketWatch, Pfizer indicateed the accomplishment of Wyeth entrust save $3 billion by the end of 2012 (2012). Pfizers reason for the large M&A is to cut cost well (by non having to invest in R&D and the development of new drugs) to figure add-on wageableness (by supplement what other companies arrive developed). Threats Difficulties in achieving innate sales harvest-home Pfizer success relies to a great extent on big M&A and lacks original sales emergence. Datamonitor call backs that silent large M&A activity pass on be undertaken by Pfizer because of ontogeny competition of generics (2011).Pfizers own R concern transaction operations bequeathing come it knockout to keep up with the historical M for its natural bewildering. learning setbacks of Sutent and Chantix/Champix Sutent, a treatment of advanced nephritic cell carcinoma, experient development setbacks. Sutents revenue ontogeny depends part on approval in surplus tumour types the statusination of clinical trials in some(prenominal) colon genus Cancer and detractor crabby person indicates that the products murder in the grocery could suffer. In addition, Pfizer as well go through setbacks in Chantix/Champix, ingest outcome therapy. gross subsided mainly over delinquent to the updated labeling to monish of neuropsychiatric symptoms.As DataMonitor pointed out, just failures in clinical trials of Sutent and other products could keyly bear upon Pfizers sales proceeds (2011). character 2 fiscal summary a. net profitableness abbreviation ( appendage A) development silver in ones chips on additions (ROA), reproduction on parkland loveliness (ROCE), and shekels per sell (EPS), one mickle by rights expatiate the profitability of Merck and Pfizer. Mercks ROA fall importantly from 2009 to 2010, dropping from 16. 8% to 1. 29%. This lessening was attributed to a decline in net income and profit valuation reserve. subsequently their accomplishment of Schering-Plough, Merck was left(a) with higher(prenominal) cost, such as an 88% add-on in R expense and a 55% profit in marketing and administrative Expenses. summarise cost ontogenesis by 265%, duration sales affix by only 67%. net profit income standardisedly light in 2010 payable to an increase in otherwise Expenses payable to the Schering-Plough union, an exchange loss of $200 million delinquent to two Venezuelan bills valuations, and a $950 million place for the rofecoxib pecuniary obligation Reserve. The disaggregated ROA cross-fileed a precipitate in profit edge as well, from 48. 9% in 2009 to 3. 06% in 2010. A class later the conjugation, Mercks ROA bounced back to 6. 7%, which is enveloping(prenominal) to the industry clean of 11% (CNN. com, 2011) by lessen some expenses (R, Materials & Production) and an increase of $2 million in sales. Pfizers ROA examines a sympathetic diminish cut back for 2010. Its ROA rock-bottom from 9. 03% in 2009 to 4. % in 2010 referable to deductions cerebrate to plus injustice charges that were $1. 3 billion higher in 2010 than in 2011, ascribable to the Wyeth encyclopaedism in 2009 and litigation cerebrate to their subsidiary Quigley guild, Inc. The ROA has increase in 2011 to 5. 83% because the be and expenses reduced by $3 million. The disaggregated ROA argues some(prenominal) the meld of plus upset and profit margin from 2009 to 2010, and the increase in some(prenominal)(prenominal) for 2011, present that the operation profitability is getting stronger. However, we gestate that some(prenominal) firms profit margins are goodish when compared to the industry norm of 16. 7% (yahoo pay. com, 2012) after(prenominal) rumpvass the addition turnover, happens Margin, and ROA for some(prenominal) companies, we grass decide that some(prenominal) are starting to advance in regards to profitability, after their eruditenesss in 2009. However, Merck awaited to be utilize its assets more efficiently to receive sales than Pfizer in 2011. Merck in addition had a higher ROA. However, some(prenominal)(prenominal) companies are downstairs the industry mean(a) ROA of 11% and beneath th e ROAs of competitors (Johnson & Johnson ROA is 8. 5% and Abbott is 7. 8%) (CNN. com). travel by on habitual paleness helps to apologise how well a company uses its investing dollars to overprotect profits. ROCE cigaret be very important to destinyholders as it informs uncouth line of merchandise investors how in effect their hood is being reinvested.Mercks ROCE decrementd importantly in 2010 repayable to the skill of Schering-Plough, which led to a hang in Net Income due to the cost of acquisition (increase in R, and increase in marketing, administration, materials and production expenses), and an increase in plow sectionholders right. Pfizers ROCE declined marginally in 2010 as well, due to the acquisition of Wyeth. However, two(prenominal)(prenominal) companies were back to total out operations in 2011 and had uniform ROCEs, closely 11%, which is considered the average percent for publically traded companies in the US. This way that twain companies pose wholesome ROCEs and are generating estimable rejoinders to divvy upholders.The desegregated bear on parkland per centumholders virtue bumps a devolve in the fiscal supplement of Pfizer from 2. 29 in 2010 to 2. 25 in 2011. Mercks monetary leverage is eternal, 1. 92 in 2010 and 1. 93 in 2011. We refrain that two companies are non severely leveraged by in goldbrick and dogged shape debt, which shows that they are less wondering(a) financially. The disaggregated ROCE uniformly reveals low asset overturn ratios for twain companies and this is not unwonted for companies with high profit margins in the pharmaceutical industry. Finally, net profit per cover is likewise use to task a companys profitability. EPS include us to compare the companies power to make a profit. This elbow room that Mercks monetary encourage honorarium ratio performs stop than that of Pfizers.Whereas Pfizers EPS has been constant for the last third age ( most 1), Merck g o through a crucial decrease in 2010 to 0. 36 for diluted. The line of productss of their financial statements list the by-line reasons for the decrease R loss charges, restructuring and merger with Wyeth (had to severalise a full course of instruction of amortization of intangible asset assets and armoury set-up), legal reserve deductions colligate to rofecoxib, and the US healthcare regulation reform. Non generally accepted accounting principles results were evaluated as well, and we study these results give a repair apprehension of the cognitive operation of the company as they throw out the non-recurring cost mentioned preceding(prenominal). b.Liquidity compend ( accompaniment B) The pursuance voice analyzes the short endpoint runniness gamble of Merck and Pfizer. The ac sourceed balances for twain companies are hale, above 1, which convey that they some(prenominal)(prenominal) train secure immediate payment and near- change assets visible(prenom inal) on their parallelism tab to bring back their obligations at bottom the undermentioned form. The loyal dimensions for twain(prenominal) companies is too tidy, above 0. 5, which meaning that both(prenominal) companies go for liquid assets on hand to bring back their short bourne obligations. The run silver race ratio is correspondent for both companies, above 0. 4, which room that both companies fix adequacy property in course from operations after backup functional great needs.According to the keeps of the financial statement, Pfizers dispirit rate in 2010 was attributed to certain tax payments do in connecter with the change magnitude tax costs associated with the Wyeth acquisition and in that respectfore, the decrease in net specie hunt down from operations. From analyzing the tax revenue to silver and long time gross Held in specie ratios, it is noticeable that Pfizer has less hard currency on hand. Pfizer has less interchange be cause they are more cerebrate on M. Pfizer worn out(p) 3. 3. billion on acquisitions in 2011, go Merck played out just 3. 7 million. Merck has a healthy ratio for accounts receivable turnover rate. Mercks accounts payable turnover is more or less effigy that of Pfizer.These findings show that Merck is salaried their supplier in two ways as extravagant as Pfizer. Pfizers lour ratio superpower be due to the fact that its creditors allow more time to pay off its debt. The Accounts due and stemma upset ratios are as well jolly high and handsome similar for both companies. This inwardness that both firms are selling live business line and turn accounts receivable into cash comparatively quickly. However, it looks like Merck is compile chief city from customers smart and turns parentage over faster than Pfizer. Overall, we weigh that both firms concord healthy short confines liquid state. c. Solvency synopsis ( appurtenance C) The bordering section analyze s the long consideration solvency chance of Merck and Pfizer.The Liabilities to plus symmetry reveals that both Merck and Pfizer finance their companies with slightly 50% debt and 50% blondness. However, Mercks ratio is a little get, with around 45% debt and 55% righteousness financing. As hindquarters be notice in the table, the Liabilities to dowerholders righteousness, desire depot Debt to recollective line capital letter, and desire name Debt to dealholders candor ratios are healthy, which pith that both companies exit stir no problems group meeting long frontier obligations and are not severely financed by debt. The please reportage ratios for 2011 reveal that both companies are able pay fill on superior debt and can carry spare debt as well.Therefore, their credit jeopardize is considered low. The run notes circulating(prenominal) to conglomeration Liabilities ratios are around 20% or higher, which factor that both firms draw enough cash flow from operations to overhaul debt. both(prenominal) firms experienced a lower ratio in 2010 due to increase tax costs for the acquisition of Wyeth for Pfizer and due to increase costs associated with the Schering Plough merger and the Vioxx outrage charges for Merck. The liquidness and solvency analysis enthral that both firms are not experiencing any financial distress. However, we consider Merck less gaga that Pfizer because Merck relies less on debt and more on equity financing. instigate 3 evaluation abbreviationAs depict above, profitability, liquidity, and solvency all go a long way in providing analysts with possible breeding utilize to measure the performance of a firm. In addition to these measures, residuum income, cost of equity, and valuation can similarly be utilize when analyzing companies such as Merck and Pfizer. a. relief Income ( accompaniment D) We started our valuation analysis by designing the rest income for both Merck and Pfizer. In ord er to achieve this, we employ the companies 10K reports from 2009-2011 to meet the image for 2012-2016, a five- yr time frame. The method we employ for this forecast was the equal method utilize to project the ease income. Pfizers proportion income for 2012 was $82,621million darn Mercks was $54,517million. recreate note that all meter in our counts are in millions. Our valuation was base on the self-assertion that both companies will call down by an average rate in the spare-time activity eld. We took into esteem tierce factors the incumbent development rate, other(prenominal) harvesting rate and macroeconomic factors. Both Merck and Pfizer are in the matureness phase of their egression cycles and show peach increment figures. residual income harvesting for Merck was nix for 2010, til now we call back this was due to Mercks merger with Schering-Plough Corporation. In 2007 and 2008, Merck showed a substantiative double-digit crop. In 2011, remnant inc ome maturation was around flat, at 0. %, tho we hope this is also due to the Plough acquisition. For Pfizer, balance income out harvest-time figures for the earlier trine age averaged approximately 3%. found on these determine for residue income, we tell apart to be fusty and borrow a 1% long haul harvest-time rate for remainder income for grades 2012 to 2016 for both Merck and Pfizer. We chose this down in the mouth produce number because both companies are still adjusting to fresh large M activity. On a macroeconomic level, both Merck and Pfizers cash in ones chips may be scraggy by an boilersuit down economy, the health care form _or_ system of government restructuring in the coupled States and the exit of long-standing patents. b. Cost of rectitude (Appendix D)after find the 5 year forecast for each company, we coterminous figure the cost of equity. The enceinte asset set model was utilise to work the cost of equity. We used the yield on a t en-year treasury top as the jeopardize extra rate which was 1. 98% (US department of treasury, 2012). The betas we used to calculate these numbers were retrieved from a financial website advocate (yahoofinance. com, 2012). The beta for Pfizer was 0. 71 and for Merck it was 0. 8342. The return on market was set at 14. 50% for both companies (NYSE, 2012). utilise the camping Model, the cost of equity for Pfizer was mulish to be 10. 869%, part for Merck it was 12. 424%. Therefore, hackneyedholders of Merck supplicate a larger return than stockholders of Pfizer.Given that Pfizer is the number one pharmaceutical company in the world, it is implied that investors consume more return from Merck than from Pfizer. c. military rating (Appendix D) employ the set outth rate of 1%, we forecasted 2012s rest income by multiplying the growing rate by 2011 counterbalance income. We performed the uniform calculation for the next five years until 2016, and then deductioned it to get the present prize. From 2016 on, we delusive a sempiternity growth rate, which means we off-key this company would grow forever. Therefore, we involve to calculate the accepted prise for the company as if it were to grow at a rate of 1%, forever. We first compute next years respite income by multiplying 2016s quietus income by 1%, then dividing by 2.The reason we dual-lane by 2 was to account for the fact that the firm capacity not grow at a rate of 1% forever. In fact, in some cases, there ability be contradict growth, as Merck experienced from 2009 to 2010. Therefore, to be conservative, we split the equipoise income in half, and then we bank brush offed the cling to by the discount factor to get the present re protect. After we calculate the present determine, we added all the determine unitedly and shared out by the stream number of shares outstanding to obtain the value per share. For Pfizer, the value per share was $79. 39 and for Merck $114. 93. Th e value we careful is three clock the amount of what the stock is presently profession at.We cogitate this number is high, but not unreasonable. near the year 2000, Pfizer was trading near $50 and Merck was trading near $100. We suppose the current low share value is due to the overall powerless economy and we believe that the share price will grow in the upcoming. Please note that all the value of the calculations are in millions provided for value per share and current share value. d. sensibility Analysis (Appendix E) We performed a sensitivity analysis based on changing apparent horizon growth factors and discount place (cost of equity) to show the value per share. This gives investors the value per share for a different discount rate or growth factor. Part 4. RecommendationsAfter a thorough analysis of both Merck and Pfizer based on profitability, liquidity, and solvency evaluations, we found that both companies are preforming well financially. We found that both co mpanies use assets and investitures in effect to fork up profit and their profitability growth seems to be smashed. The analysis of short term and long term liquidity of both firms shows no put on the line in their ability to generate cash to meet functional capital needs, and see short term and long term debt. From the valuation analysis, we can predict that the future day share set of both Pfizer and Merck seem to grow at a steady rate, assumptive that both companies grow at a rate of 1% each year.From an investors point of view, we consider that the earning per share, the price/ net profit ratio, and the leverage are important factors to consider to begin with qualification an investing. Company EPS determine/ wampum ratio leverage Pfizer 2. 14 10. 47 2. 25 Merck 3. 25 11. 95 1. 93 After analyzing both companies, on the basis on earning per share, the price/earnings ratio, and the leverage, we have the following recommendations for potential investors. examine these values for both companies (table above), we found that Merck outperforms Pfizer marginally.We believe that investing in both companies is safe, however, investment in Merck will bring a higher earnings return than a similar investment in Pfizer in the future. In addition, the financial leverage shows that the financial encounter investment in Merck is lower than Pfizers, which makes it an even founder choice for investment. However, the investor should keep in mind that the pharmaceutical industry involves high take chances due expiring patents and threats from generic drugs and their profitability can be super impact by these events. According to a modern member on Dailyfinance. com, we found that the patents for major drugs like Pfizers Lipitor and Protonix, and Mercks Singulair, which make up a large portion of the companies revenues, are about to expire(2011).These patent expirations cause unbelief in the future growth of the companies and skill have a substantia l impact on their stock prices. Appendix A ROA Pfizer Merck & Co 2009 2010 2011 2009 2010 2011 asset overturn 0. 46 0. 32 0. 35 0. 34 0. 42 0. 45 earn margin 19. 50% 14. 60% 16. 50% 48. 90% 3. 06% 14. 70% ROA 9. 03% 4. 80% 5. 38% 16. 80% 1. 29% 6. 70% ROCE Pfizer Merck & Co 2009 2010 2011 2009 2010 2011 10. 28% 9. 21% 11. 53% 33. 47% 1. 73% 11. 74% EPS Pfizer Merck & Co 2009 2010 2011 2009 2010 2011 generally accepted accounting principles $1. 24 $1. 09 $1. 10 $5. 65 $0. 36 $2. 01 Non generally accepted accounting principles 3. 77 3. 42 3. 25 Appendix B Pfizer Merck 2011 2010 2011 2010 certain balance 2. 0566461 2. 1306398 2. 0425362 1. 8581932 profligate balance 1. 438099 1. 4454533 1. 4301631 1. 2496004 Opr. CF to current Liab. 0. 7210802 0. 399986 0. 7622653 0. 6918995 revenue to funds 19. 051992 38. 649568 3. 5508832 4. 2189908 age Revenues Held in interchange 19. 158102 9. 438314 102. 79133 86. 51358 Accounts collectible swage 1 . 67 2. 11 3. 77 3. 89 geezerhood Accounts collectable 218 173 97 94 large(p) Accounts receivable swage5 4. 79 6. 16 6. 59 eld due large 73 76 59 55 breed Turnover 1. 88 1. 53 2. 78 2. 4 geezerhood catalogue Held 194 238 131 138 Appendix C Pfizer Merck 2011 2010 2011 2010 Liabilities to plus proportion 0. 560 0. 540 0. 458 0. 463 Liabilities to Shareholders0. 583 0. 555 0. three hundred 0. 290 Equity symmetry yen marge Debt to long-run 0. 297 0. 303 0. 220 0. 220 Capital symmetrys dogged terminal figure Debt to 0. 422 0. 435 0. 284 0. 84 Shareholders Equity Ratio quest insurance coverage Ratio 8. 600 6. one hundred eighty 10. 900 3. 480 operational silver watercourse to measure0. one hundred ninety 0. 099 0. three hundred 0. long hundred Liabilities Ratio Appendix D 10 year Mercks of importMercks Rm exchequer prime 1. 98% 0. 8342 14. 50% CAPM 12. 2% Merck 2012 2011 2010 number 1 SE 54,517 54,376 59,058 complete personnel casualty 3,132 3,216 2,767 Income visible(prenominal) to Com. 57,649 57,592 61,825 Shareholders demand Income -222 -222 -221 counterweight Income 57,427 57,370 61,604 Changed in residual Income 0. 10% -6. 7% 2012 2013 2014 2015 2016 CV communicate proportionality Income 57,427 58,001 58,581 59,167 59,759 30,178 fire broker 1. 12424 1. 2639156 1. 420944 1. 5974826 1. 795954 0. 2051731 reconcile encourage 51,081 45,890 41,227 37,038 33,274 147,086 make sense cheer 355,596 of Share not bad(p) 3,094 cherish per Share 114. 93 incumbent Share appreciate (5/4/12) 38. 84 10 year TreasuryPfizers Pfizers Rm handbill of import 1. 98% 0. 71 14. 50% CAPM 10. 7% Pfizer 2012 2011 2010 origination SE $82,621 $87,813 90,014 citywide passing -4,129 -3,440 552 favored Dividends 45 52 62 Income lendable to Com. $86,705 $91,201 89,400 Shareholders necessary Income 3,142 4,520 4,510 residual Income $89,847 $86,681 84,890 Changed in relief Income 3. 65% 2. 1% 2012 2013 2014 2015 CV 2016 intercommunicate Residual Income 89,847 90,745 91,653 92,569 93,495 47,215 send packing promoter 1. 10869 1. 22919352 1. 3627 1. 5109 1. 6751 0. 1653 defend foster 81,039 73,825 67,254 61,267 55,813