Thursday, November 28, 2019
Management Strategy Models
Introduction Comprehensive business situation analysis can take many forms. Situation analysis involves the evaluation of the situation and the trends in a particular companyââ¬â¢s market. The commonest is the analysis on the basis three Cââ¬â¢s. According to Orcullo (2007), his particular situation analysis refers to the study of the major elements of the businesses that crucially affect the direction that any business takes.Advertising We will write a custom essay sample on Management Strategy Models specifically for you for only $16.05 $11/page Learn More Gotz and Mann (2006) say that customers, costs and competition traditionally form the core of the three Cââ¬â¢s analysis. Strauss (2008) says that, nowadays business situation analysis includes collaboration, the company itself and competitive advantage that the company holds over its rivals. According to Bohn (2009), another model that will be used to evaluate Morisonââ¬â¢s company is th e SWOT analysis. The strengths, weaknesses, opportunities and threats that Morrisons is experiencing relative to its competitors will be analyzed to determine the situation and recommend the possible remedies and strategies it should take to avoid losing ground to other supermarket chains. The Cââ¬â¢s Business Situation Analysis Customers Like the other leading three stores, Morrisons has focused on the mid low-end segment of the population. The company has pursued a strategy focusing on offering unbeatable customer service and a favorable shopping environment. Again, it regularly competes on special offers and other promotions that aim to convince customers as savings oriented. The strategy has had considerable success evidenced by the number of customers who visit the stores every year. For instance, the store announced that a whooping 10.8 million customers visited the store in the three months leading to November 2009. The figures were way ahead of predictions and further ser ved as a vote of confidence in the customer service polices that is in place. Competition Morrisons supermarket faces competition from many other retails chains in the UK that already control a big share of the market. Waitrose, Sainsbury, ASDA and Tesco provide for the major competition for Morrisons in the UK. Apart from Waitrose, the rest are way ahead of the Morrisons in the market in terms of diversity of goods and services and regional presence.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Company Morrison Supermarkets plc. is classified as the fourth largest super market in the United Kingdom. It is got a sizable market share in the UK that was estimated at 11.8% in 2008. Currently, it is estimated to employ more than 124, 000. However, compared to its competitors, Morrisons was the smallest in terms of the market share segment. It is way behind market leader Tesco with a market s hare of 30.9%, Asda with 16.8% and Sainsbury with 16% (Li 2008). The company majorly deals with groceries and consumer goods that form the core of its revenue sources. Its revenue in the year 2010 is estimated to have hit 14, 528 million pounds. It is made a net profit of 460 million pounds in the year 2009. SWOT Analysis The Cââ¬â¢s analysis above brings out many strengths and weaknesses of the Morrisonââ¬â¢s retail chain. Similarly, it analyses the opportunities that can be exploited and the threats that are encroaching on its survival in the market (Fine 2009). Any strategy therefore that the new leader is going to carry out must address the elements identified in the SWOT analysis. Strengths It is apparent that Morrisons has a distinct advantage in the Northern part of the UK. Its historical ties with the place and success in courting low and mid low-end customers is one of the strengths that it boasts over its smaller rivals. The acquisition of Safewayââ¬â¢s retail gro up has only served to reinforce that advantage of consolidating Northern UK and other parts of the country. Again, unlike its competitors who have diversified in the products they offer, Morrison is yet to diversify universally beyond groceries and non-food offers. It therefore provides an area of strength that can be exploited by the retail chain to its advantage. The chain also has enormous strength among the upper middle class segment of the population. Morrison too has its ââ¬Å"good quality foodâ⬠tag that it has cultivated over time and which accords strength that its competitors do not have. Morrisons has a strong balance sheet besides owning majority of its store portfolio which is estimated at 89%. Estimates put its value of property to be 7.5 billion pounds higher than its market capitalization. With only 19% as its debt equity, Morrisons comes out top in the sector.Advertising We will write a custom essay sample on Management Strategy Models specifically for yo u for only $16.05 $11/page Learn More The company therefore is stable as far as asset worth and accumulation is concerned. The above are financial strengths that the company can use to its advantage to increase business Weaknesses The supermarket however seems unsure which direction it should take. Failure to establish presence in the south when all other major chains did so was a case in point where the retail chainââ¬â¢s top management failed to make quick decisions and take risks to increase its market share in the UK. Opportunities Concentration on the low-end market means there still is an opportunity for the supermarket to grow its customer base in the high sections of the population. The fact that its leading competitors have larger market share and make more profits with their low-end client base is reason enough that there is still opportunity in expanding the customer base. Though Morrisons has ventured into the southern part of the UK, there st ill is an opportunity to expand its operations throughout the country to make it a nationwide chain hence access a larger client pool. While Tesco for instance has 2282 stores, Morrisons has 447 stores, giving it a huge opportunity to grow its branches to effectively compete with the leading three stores. All of Morrisons rivals have developed online shopping options for their customers. They have expanded their market reach to accommodate those that rely on the internet for shopping. Morrisonââ¬â¢s new CEO has acknowledged the company is looking into the possibility of developing such a system. It is an opportunity that if exploited could see is customer base grow while the market share will be increased. Threats The price war between Morrisons and Tesco placed Morrisons at the receiving end. A Tesco advert in 2007 sought to inform prospective customers how Tesco had over 3000 items priced cheaper than at their rival Morrison. The financial muscle and the greater market share of the competitors will always be a threat to Morisonââ¬â¢s position and progress as a market leader in the UK.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Strategy development Given the stiff competition among supermarkets in the UK, it is important that Morrisons develops a strategy aimed at maintaining its competitive advantage. Its strengths as identified in the SWOT analysis will be consolidated while the measure will be put in place to stem the weaknesses. The strategy has to focus on exploiting the existing opportunities to increase the revenues of the company. Porterââ¬â¢s Generic Business Model According to Porterââ¬â¢s generic business opportunities model, innovation, quality enhancement and cost reduction form the core of any business strategy (Rundle and Johnson 2010). Innovation aims to increase the differentiation of products and adds value to them. Kossowski (2007) asserts that differentiation will enhance creativity that will ensure uniqueness of products giving a companyââ¬â¢s good s and services an edge over the others. Quality enhancement on the other hand will involve concentration of particular market segm ents and development of highly developed products for those markets. Provision of cost leadership involves reduction of costs while remaining competitive on pricing. Charging lower prices will ensure while maintaining an acceptable profit margin on each unit of goods sold will effectively manage costs leading to profitability. Porterââ¬â¢s generic business opportunities model suits Morrisons as it seeks to increase its market share while raising its revenues. The new Chief Executive Officer needs to focus on new innovations that will bring new customers on board. Their marketing ways have to change so as the message goes beyond the mid low-end customer base that forms its core clientele. Innovation is also critically needed if the company is to increase the variety of goods that it has offering its customers. Pricing has been one of the fronts that the super markets have engaged each other. Morrisonââ¬â¢s has a strong financial backing which can easily be turned to price offer s to customers. The new CEO will need to focus on specific market segments like they are doing now with a reduced margin and an intention to win the price war. A price war can easily turn against the company especially if the rivals have a considerable financial muscle like that of Tesco and the other two leading supermarkets. Morrisons has numerous factories where its products are manufactured. Possession of these factories gives them an advantage over their competitors. In the quest to improve sales, the new management should focus on improving the quality of their goods. This will be easier especially because they have control over the production of a majority of goods for their outlets. The leadership of the company should focus in making goods difficult to imitate by competitors and counterfeits. That way they are able to lock in any intended onslaught on their products by the competitors. Diversification beyond food products is necessary if market leaders like Tesco are to be challenged. Considering all leading supermarkets target the low-end segment of the market and regularly engage in price competition with Morrisons, it is important the new CEO carefully reviews the strategy. Caution will need to be applied in order to ensure costs are minimized while profits are maximized. Five forces Model Five forces model is another strategy model that is popular with businesses (Hax 2009).This strategy model suits into Morrisons current needs and the new management can use it to improve its market share while combating the challenges that face the company. According to Shaw-McMinn et al.(2001), the model involves analysis of the market through five fronts which touches on almost every aspect. Threat from new entrants in the market, the industry, bargaining power if suppliers, the bargaining power of buyers and the threat of substitute products constitute the five forces that shape strategy formulation in many companies. There are likely to other new entrants in the UK market. Though they present no considerable threat, it is important that the new management of Morrisons take note of them. New entrants normally enter the market with the intention of capitalizing on the existing player mistakes. Lack of online shopping for Morrisons may be one of the weaknesses that new entrants may be targeting. Considering they will be competing for the same clientele, it is important that Morrisons take steps to consolidate the customer base and ensure loyalty of customers. One way the new CEO can do it is through introduction of the shopperââ¬â¢s card that promises rewards for loyal and consistent customers. The supermarket industry in the UK is vibrant and any innovation player is guaranteed to keep its place. The new management of Morrisons should increase industry presence through offering diverse types of goods. Morrisons has already consolidated its position on the food sector. Its time the new management focused on other fronts that as a result will net new customers hence increase customer base. Keeping competitive advantage should also be top of the agenda. Morrisons would want to keep its superb infrastructure that greatly aides its domination of the groceries market. All goods that Morrisons distributes are obtained from suppliers. Considering it is largely a grocery oriented chain, suppliers come in handy. Suppliers determine the quality of the goods sold by the supermarket. Good relations with suppliers are therefore critical to Morisonââ¬â¢s survival in the market. A few years back some industry analysts in the UK felt supermarkets in the UK including Morrisons were being too tough on suppliers. It is understandable because Morrisons has packaged itself a store that offers quality products compare with its rivals. Considering suppliers too have power and they can decide to sell their produce to other willing industry players, it is important the new management develop a relationship that is beneficial to both pa rties. It will be important for the new CEO to avoid the common hostilities that normally characterize supplier-buyer relationships. Buyers or customers are the main backbone of any business that has intentions of surviving in the market. The bargaining power of customers if not checked and carefully dealt with can easily lead to losses. Businesses have to perform a delicate balancing act where they need to make a sale and gain profit and ensure a customer is not lost or the reputation of the company is not damaged. The financial strength that Morrisons has plus an expected jump in profits through sound management will be enough for the new management to offer promotions that can double up as bargaining events. Substitute products offer reprieve to customers when they feel that do not experience maximum utility from the products they are interested in. It is therefore important that Morrisonââ¬â¢s stock substitute products that will offer customers a wide variety to choose from i f their original intentions are not met. That calls for diversification of the products on offer in the stores in an effort to go beyond food products as earlier said. Conclusion The models described above do not offer the ultimate solution to Morrisons quest of increasing its market share in the UK. It is important for the management to note that its other leading competitors have overseas operations which gives them a competitive edge over Morrisons. The new CEO should consider taking Morrisons operations abroad in order for the company to increase its revenues and to improve its international market share. References Bohn, A. (2009) The SWOT Analysis. Berlin: GRIN Verlag. Hax, C., A. (2009) The Delta Model: Reinventing Your Business Strategy. New York: Springer. Fine, L. G. (2009) The SWOT Analysis: Using Your Strength to Overcome Weaknesses, Using Opportunities to Overcome Threats. New York: Booksurge Llc. Kossowski, A. (2007) Strategic Management: Porterââ¬â¢s Model of Gener ic Competitive Strategies Theory and analysis. Berlin: GRIN Verlag. Li, E. (2008) Supermarket Chains and Grocery Market in the UK. Web. Mann, C. J. and Gotz, K. (2006) Borderless business: managing the far-flung enterprise. London: Greenhood Publishing group. Orcullo, N. (2007) Fundamentals of Strategic Managementââ¬â¢ 2007. Manchester: Rex Bookstore, Inc. Rundle, S. and Johnson. N. C. (2010) Business As Mission: A Comprehensive Guide to Theory and Practice. New York: Inter-Varsity Press. Shaw-McMinn, Peter, G. and Moss, Garry L. (2001) Eyecare business: marketing and strategy. London: Elsevier Health Sciences. Strauss, S. (2008) The small business bible: everything you need to know to succeed in your small business. London: John Wiley and Sons. This essay on Management Strategy Models was written and submitted by user Spencer L. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Sunday, November 24, 2019
Strategic Organizational Management in Moog Controls, Philippines
Strategic Organizational Management in Moog Controls, Philippines Free Online Research Papers Strategic operations management could not be illustrated in a simple form for Moog Controls since it involves the entire organization in its planning, execution and improvements. On the other hand, it can be simply described as paving the way for the organization to reach its future state based on its current status. Strategy involves the senior management team planning for the organizationââ¬â¢s competitive advantage, balancing and forecasting the consequences of these strategic decisions and finally looking into the long-term implications of such decisions. (Brown et al. 2005) The strategic areas that are encompassed within operations management include scheduling, quality management, process technology and inventory management. Bill Moog has always known that the work environment played an important role in any companyââ¬â¢s success. He has observed the manufacturing environments of other industries and noticed that employees worked better when they were treated with trust and respect. These modest ideas rested the base for what would ultimately become part of Moogââ¬â¢s much-acclaimed work environment and culture. (About Moog 2010) It could safely be said, therefore that the strategy involved in improving Moog Controls Philippines revolves around its human resources, from proper selection, training, developing and maintaining them, keeping them involved in achieving the whole organizationââ¬â¢s goals. HUMAN RESOURCE MANAGEMENT The human resources function in Moog has evolved from being a business function in the organization ââ¬â administrative personnel maintenance tasks, to a business partner that catered to learning and development of employees, and finally as a strategic partner whose roles include talent management, performance management, competency management and succession planning. (Bhatia 2008) In the Philippines, a country that currently encourages its labor force to work abroad, selecting and hiring competent employees is difficult, simply because the salaries being offered here are a lot smaller than other countries. (Macaraig 2010 Torio 2010) On the other hand, doing business in the Philippines is relatively easy, considering that the business norms that the Filipinos value are the following: courtesy, social events, grooming and hygiene, dining, religion and superstition, equal opportunities, savings, and word of honor and integrity. (Andres 1997) These are the basis of most multinati onal companies in hiring, training, motivating and retaining their current workforce. Moogââ¬â¢s culture and philosophy revolves around trust ââ¬â an employee can trust that everyone he works with is competent. Moog Controls operates in teams, creating a democratic environment and job titles are overlooked. Employees are developed, recognized and rewarded for their efforts, making them proud of their output. Moog Controls, Philippines has accepted the concept of Hamel and Prahalad (1994) that the human resources must be linked to the organizationââ¬â¢s core competencies, being ââ¬Å"a bundle of skills and technologies rather than a single discrete skill or technology,â⬠ââ¬â and skills come from human means. Consequently, in 2005, Moog Controls, Philippines has been the recipient of the Personnel Managers Association of the Philippines (PMAP) Outstanding Program of the Year Award in their demonstration of the Filipino worker at his best, and the risk that the company has taken in trusting its employees. (Mosqueda 2005) Performance management A performance management system is a process that involves identifying, measuring, encouraging, evaluating, improving and rewarding employee performance. It is basically an employee appraisal system that (a) improves the employee performance by making them realize and utilize their full potential in carrying out their tasks; (b) provides information to employees and managers in making work-related decisions. (Purposes of Performance Management System 2010) From the feedback mechanisms, development concerns, documentation, diagnoses of organizational problems, diagnoses of organizational problems and employment decisions, the following employee necessities have been realized: Competitive salaries and benefits, work-life balance, educational assistance through academe and trainings in other facilities, attractive retirement benefits, stock investment options, comprehensive health programs, recreational activities, employee exchange programs, and trainings in other facilities (Moog 201 0). PROCESS MANAGEMENT Just In Time (JIT) JIT is fully dependent on an integrated and strategic approach linking customer requirements with supplier capabilities and excellence in internal operations. In Japan, JIT has grown into a total management system from marketing to delivery. It has presented Japanese companies with a sturdy competitive advantage over their Western rival (Harrison 1992). Moog has adopted this lean production, Japanese manufacturing approach developed by the Toyota Motor Company whose main principle is focused on the removal of all waste from the operations environment. The produced amount fills in the exact number required when it is needed. The major forms of waste or contributors or sources of waste that have been identified are: overproduction, waiting, transportation, the process itself, stock on hand, motion, defective and goods (Brown et al. 2005) Consequently, with the use of JIT, Moog Controls has also included the use of the kanban system or the ââ¬Å"cardâ⬠system of communicating to, from and within operating departments, signalling to trigger an action. (Kanban System 2010) JIT has addressed the challenges of Moog with holding inventory, such as, storage costs, loss or stagnancy of capital, obsoleting of stocks, revolving capital for the organization has increased, and losses to deterioration, theft or damage was minimized greatly. Understanding the risks and the magnitude of accountability when managing the risks involved in the JIT system has further motivated the employees to comply and exceed quality standards that have been put in place. AS 9100 Certification AS 9100 is the quality management standard specifically written for the aerospace industry. It has long been considered by some entities, such as the Federal Aviation Administration (FAA) that the ISO 900 series of standards are inadequate in terms of ensuring quality and safety in the ââ¬Å"high riskâ⬠aerospace industry. The existing description of AS 9100, Revision B, brings together its standard with ISO 9001: 2000 and has extra necessities regarding Regulatory Compliance and the following aerospace-sector specific requirements such as configuration management, design phase, verification, validation and testing processes, reliability, maintainability and safety, product identification, documentation and control of production process changes, production equipment, tools and numerical control machine programs, and many more. Accordingly, ISO 9001:2000 is completely incorporated within AS9100 in addressing aviation safety concerns. (AS9100 The Standard for Aerospace 2010) The Japanese 5-S Moog Controls Philippines also practices the Japanese 5S method of workplace improvement. This is a housekeeping system of keeping the shared work areas organized to maintain morale and efficiency. The main point of 5S is simply putting everything in its proper storage place lessening the time used in looking for things needed, improving the work flow process instilling ownership amongst employees. (5S: Japanese concept of workplace improvement 2010) The 5S are: Seiri (Separating): This is sorting only the needed materials in the workplace and storing or discarding those that are not important. Seiton (Sorting): This catalogues tools and materials in the workplace, keeping them close to the work station they are needed in, stored in a fashion that removes extra motion. Seiso (Shine): This simply indicates that the workstation and work area should be maintained clean after every job. Seiketsu (Standardizing): This means a consistent, standardized work practice. Each employee knows exa ctly what his tasks or responsibilities are. Shitsuke (Sustaining): Meaning maintaining the optimized standards, and not returning back to the old ways of operating. Six Sigma Six sigma is a statistical problem solving methodology that helps enhance organizational operations. It ensures a quality level of 3.4 defects per million opportunities (DPMO), with a rate of improvement of 70 percent or more. It is data-driven based on the Define-Measure-Analyze-Improve-Control method undertaken to create bottom-line breakthrough change.(Statistical Six Sigma Definition 2010). The DMAIC method of six sigma is a formalized problem solving method used to improve effectiveness of the production processes. The six key principles of six sigma involve: (1) Focus on the customer (2) Identify and understand the value stream process (3) Manage, improve and smoothen the process flow (4) Remove non value-added steps and waste (5) Manage by fact and reduce variation (6) Involve and equip the people involved in the process (7) Undertake improvement activities in a systematic way. The success of Moogââ¬â¢s status as a world-class manufacturer and innovator rests largely on its human resources and the programs included in HR development. As seen on Moogââ¬â¢s website, there are testimonies from individuals posted that emulate Moogââ¬â¢s performance management processes (Our People: Asia Pacific 2010), especially the benefits that they have been recipients of. What is encouraging in this scenario is that Moog as organization also benefits from the skills, knowledge and talents gained by the individual. Processes, innovation and technological advancements have more often than not originated within the organization itself ââ¬â a result of trusting its employees to ââ¬Å"runâ⬠the company as innovation and process improvements have always been within armââ¬â¢s length. The effect of caring and uplifting employee morale is not only experienced by Moog, but also by other successful companies, such as The Tata Group of India, Allen and Co, GE, and Toyota. The flattened organizational structure that promotes democracy, easy communication and the sharing of knowledge through social networks currently presents a better means of raising accountability in employees, and also finding and solving operational barriers that can lead to optimization of work. (Maqsood Walker 2007) Just like in any organization, any undertakingââ¬â¢s results can be seen through profit. Moogââ¬â¢s overall annual diluted earnings per share has reached an all-time high in 2009 at $2.75 ââ¬â more than double its amount ten years before at $0.80, under a ten year compound growth rate of 9%. (Moog Annual Report 2009) Although the organization has been affected by the economic crisis, it still brags of $1,849M net sales and $85.1M net earnings. These figures would not have been met if there was a weak support on the HR level, allowing uncontrollable attrition and retrenchments during the financial crisis of 2007 to 2010. The investments the organization has done in developing their manpower and knowledge base has made them resilient in such cases, being affected but not overly alarmed by such crises. The shift in the role of human resource management, from being just administrative business solutions to strategic partners in planning, has been the root of most of Moogââ¬â¢s accomplishments. Strategic decisions, therefore, must take into consideration the welfare of the human resources involved. The shift to honing knowledge workers would create innovations in processes, methods and other operational procedures, enhancing not only that employeeââ¬â¢s team performance but also the performance of the organization as a whole. Continuous improvements under the JIT, six sigma and kaizen methods of operations will take place constantly, causing technological advancements, product advancements and process improvements and cost effectiveness that can benefit the organization itself. Process improvements and innovation is not an instant fix to any operational activity; therefore, time, technology, money and skill are required to carry these through. Skill is the most important ingredient in innovation, and skills can only be taken from the human aspect of any industry; thus the accomplishment of any strategic operations management plan or for any quality method would only be realized through human resources. Research Papers on Strategic Organizational Management in Moog Controls, PhilippinesThe Project Managment Office SystemAnalysis of Ebay Expanding into AsiaMarketing of Lifeboy Soap A Unilever ProductBionic Assembly System: A New Concept of SelfPETSTEL analysis of IndiaDefinition of Export QuotasIncorporating Risk and Uncertainty Factor in CapitalOpen Architechture a white paperInfluences of Socio-Economic Status of Married MalesResearch Process Part One
Thursday, November 21, 2019
Analyse and explain different types of equality by referring to the Essay
Analyse and explain different types of equality by referring to the debates on them - Essay Example In connection to the above, it is critical to understand that the issue of absolute equality cannot always be realized in its absolute totality. This follows the differences that are always inherent in the human beings. For instance, the capabilities of individuals are not commensurate. This means that some individuals may be capable of other things whereas their fellow counterparts may not be capable of the same things the others can do. In this respect, the issue of absolute equality can be considerably compromised (Hollander, 2014). In relation to the above, it is of critical significance to acknowledge the fact that when it comes to rewards, the people who may have succeeded in performing certain tasks may get rewarded in proportions that outdo those of the other fellows who may have also vested their efforts in doing the same thing, but have failed to succeed. In this manner, the notion that all of them are rewarded for their vested efforts is a clear representation of practice of equality (Hollander, 2011). This is evident concerning the fact that those who partook the task have all been rewarded. However, the issue of absolute equality may not apply in such a situation. This follows that those who may have succeeded in performing the tasks assigned may get more rewards as compared to the ones who may have failed to execute their best in the same tasks. As such, it is important to note that the latter proves th at equality does not necessarily refer to total or absolute equality. In this respect, it is of crucial significance to understand the real meaning of the term equality. Relevant to the above, it is of critical significance to note that equality may mean the absence of all unnatural, as well as, unjust inequalities (Hands, 2015). Unjust inequalities may always take two different forms. Some of the forms of unjust inequalities may comprise of
Wednesday, November 20, 2019
A Report to Malaysia Exchange Controls during the Asian Crisis Essay
A Report to Malaysia Exchange Controls during the Asian Crisis - Essay Example Hence it should learn lessons form this experience which would be used in formulation of future financial strategies. The present report discusses all these aspects in detail. In 1997-98 there was a severe financial crisis experienced by the countries of South East Asia famously known as tiger economies (Stephen Haggard, 2000). Malaysia also faced this crisis severely. The reasons for this crisis were many as felt by the researchers (Wing Thye Woo, 2000). The main causes are uncontrolled foreign investment in the country, allowing capital fight from Malaysia to other countries, magnifying the currency situation in international level and inefficient monitory policy. Reacting to the crisis in the initial weeks the Malaysian government has taken initiatives to regulate foreign exchange as the devaluation of Ringgit has been very fast. However its measures could not bring much equilibrium to the financial condition of Malaysia and hence it needs to be analyzed so that the loop holes can be identified and one can be accurate in formulating any exchange control measures in future. Keeping this in view the present report has been prepared with the objectives of finding out the reasons for the financial crisis, what happened and what was the extent of damage, measures to control the crisis, short comings and future strategies which are described as follows. In early 1997, the Malaysian stock market index began a downward spiral together with stock markets of several ASEAN countries like Thailand and Indonesia. On 14 July 1997, Bank Negara of Malaysia gave up the defence of the Malaysian ringgit after jacking up the short rate to 50% and spending US$10 billions on unsuccessful monetary operations. There were huge amounts of foreign capital has entered Malaysia in previous years (prior to 1997-98) which was uncontrolled in nature by the Malaysian government. This capital was mainly of short term in nature and was also highly conditional. The
Monday, November 18, 2019
Movie Critique on Gothika Review Example | Topics and Well Written Essays - 2000 words
Critique on Gothika - Movie Review Example Movie Critique on Gothika She is paid a lot of money and to her, the patients are just crazy. She is doing her usually routine of a morning swim and working her normal case load but one day she travels down the highway and meets a woman in flames. She almost runs over this woman but has stopped the car to see what happened to her. The woman in flames is in turmoil. The next thing that the psychiatrist knew is that she is in a psych ward prison cell for the murder of her husband. The story revolves around trying to discover who murders this girl on the road and clearing her name. She is in a frantic battle with the psychiatric prison facility staff to clear her name. The psychiatrist clears both her and one of her main patients when she discovers that the patient was actually raped by one of the guards who is responsible in murdering the girl in flames and the many other girls at the ward. The guard and the psychiatrist's husband had been raping women for a long time in the facility. The story presented in thi s movie had so many twists and turns and interwoven pieces that it made for a great story while being a horror film. The characters in the story were portrayed wisely delivering an outstanding performance. Halle Berry is a remarkable actress in most movies she is in and she won an oscar in some of her film Monster's Ball so it is no surprise that she is capable of a brilliant performance. Halle Berry played the psychiatrist and she is incredibly rich and famous. It is important to recognize that if she was not famous, she would have still delivered a great performance because we see the flawless acting with an elegant flow. She is unlike any other actress because she draws her audience in effortlessly. She is incredibly beautiful but somehow conveys such an ordinary character position. Robert Downey Jr is also in the film and his role is more subdued but it still delivers quite an impact because it is Robert Downey Jr. When he is forced to go against Halle, we see a performance that is quite honest and genuine in its delivery. The prison guard has a poor performance only in the reason that I found he had an annoying persona and did not play evil enough like other people play evil. He is far from being an Anthony Hopkins type character from The Silence of the Lambs. Penelope Cruz plays crazy and beautiful extremely well and holds her own and goes beyond that in this film. Her acting ability is outstanding and her delivery of portraying most characters is quite powerful. The cinematography has quite an impact because the woman in flames is so tortured and is also quite good at acting. The flames and the blood scenes are quite remarkable in terms of how esthetically pleasing and horryifying they are all at the same time. The thunder storm on Halle's way home and the swim scene is incredible as well because we all like a good thunderstorm in a movie. The editing had quite an impact and I felt that the scenes that were in the movie delivered such an awesome film an d nothing was left out. We see the many great qualities in this film with the editing job because there was nothing in it that needed to be added or left out. All the scenes belonged and brought the film to a position of greatness that we have to pay tribute to the editor for doing such a good job. The sound was good but not much more impressive as compared to any other film. We see the woman in flames screaming and the scenes where Halle has fits and outbursts in her reflection of memories
Friday, November 15, 2019
Drug safety assessment
Drug safety assessment INTRODUCTION Pre-clinical studies or pre-clinical trials are very important stage of research in drug development process. Pre-clinical trials are also known as non-clinical safety assessment. The main purpose of carrying out these studies is to ensure that the test compound is safe before testing in humans (clinical trials), characterise toxicity and target organs, to fulfil regulatory requirements and to protect employees in manufacturing. In other words, quality, safety and efficacy of a test compound are determined during pre-clinical studies. Animals such as rodents (mice, rat) and non-rodent (monkey, dog) are used in pre-clinical trials before administration to humans (clinical trial phase) so as to separate efficacy from toxicity in human volunteers. The international conferences on harmonisation (ICH) for drug development are regulatory authorities which provide instructions for development and registration of new chemical entities (NCE) likewise instructions for carrying out assessment i n animals. The concept of the 3Rs (Reduction, Refinement and Replacement) is widely employed by ICH for pharmaceutical industries to comply. This concept is employed so as to reduce the numbers of animals and also to avoid prolonged testing period. Anti-arthritis drug are used to treat arthritis (inflammation of joints). Important pre-clinical tests required include general toxicology, safety pharmacology, reproductive toxicology, carcinogenicity studies and genetic toxicology . PRE-CLINICAL TESTS Test for Carcinogenicity Carcinogenicity The carcinogenicity study evaluates the carcinogenic potential of the compound. During pre-clinical studies, animals are used firstly so as to determine the potential risk of the anti-arthritis drug in humans. In order to evaluate carcinogenicity, two types of studies are conducted which are the short-term study and the long-term study. The short-term study involves using the four transgenic models. The four transgenic models used are inactivated tumour suppressor gene (p53+/- model), activated oncogene (Tg.Ac model and rasH2) and inactivated DNA repair gene (XPA-1-model). The genetic alterations of the four transgenic models are made in relation to carcinogenesis processes. The long-term study involves the use of mice or rats of both sexes and is usually a two years study. The correlation between rats to humans is about 70% and is more sensitive making them the major specie of animal used for the long-term carcinogenicity studies. Spragne-daweley has high chances of survival and as a result, these strains of rats are required for the 2years bioassay. Treated animals are divided into three groups each containing about 50-100 animals per sex. In rats, the treated groups are observed for 24months while 18months in mice. Large numbers of animal are used for this study because continuous dosing of the drug could induce tumour and also to achieve a strong statistical result. Furthermore, non-genotoxic carcinogens can cause some rodent strains to be susceptible to tumour induction and in order to distinguish rodent specific processes related to human, understanding carcinogenesis mechanisms based on the specificity of tissues is very vital. Genotoxicity Test Genotoxicity test is carried out so as to determine whether the anti-arthritis drug can cause genetic damage. The genotoxicity test required include; mouse lymphoma assay (MLA) otherwise known as in vitro mammalian cell clastogenecity, the Bruce Ames test (Ames test) and mouse micronuclei assay. These tests detects whether the anti-arthritis can cause alterations in chromosome and damage to DNA leading to genetic mutation and ultimately results in malignant tumour (cancerous cell).The Ames test is commonly used for the genotoxicity test and it detects whether the drug is genotoxic. This occurs by causing back mutation in bacteria colonies and it takes up to about 48hours . Gene mutation, clastogenecity of a genotoxic compound and chromosomal aberrations are determined via the mouse lymphoma assay (MLA) or in vitro mammalian cell clastogenecity. The MLA requires between 2-3weeks and can either give a negative result to the Ames test or not detected at all. An additional test used in g enotoxicity testing is the mouse micronuclei assay which is an in vivo study. This is required because regulatory authorities (ICH) requires both in vitro and in vivo test. The process of ADME of the anti-arthritis drug is used to detect genotoxicity via the mouse micronuclei assay. After performing all the three tests discussed and the anti-arthritis drug remains positive to all, then the drug is probably carcinogenic to humans. Test for Organ Toxicity and Biochemical Dysregulation Safety Pharmacology Safety pharmacology of the anti-arthritis drug is required to detect target organ toxicity such as cardiovascular, central nervous, respiratory, renal and gastrointestinal system. Rodents (such as mice and rats) and non-rodents (such as guinea pigs and dogs) are required or used for safety pharmacology test. Rats or mice are required for CNS and respiratory studies while dog is required for cardiovascular studies. The pharmacological activity of the anti-arthritis drug is determined by carrying out the ligand binding assay which makes in vitro studies preferable to in vivo studies. In safety pharmacology studies, the animals are divided into four groups, three treated group and one control group. The maximum number of rats required per group is fifteen and four dogs group. The duration of dosage in safety pharmacology studies is usually one month . The ICH (S7A) perspective on cardiovascular safety pharmacology required core battery studies and follow up studies. Some of the core bat tery studies include heart rate, electrocardiogram and blood pressure must be evaluated. In vitro and in vivo evaluations, conductance abnormalities including methods for assessing repolarisation must be put into consideration . Some of the follow up studies include vascular resistance, cardiac output, the effects of exogenous and/or endogenous compound on the cardiovascular responses and so on . General Toxicity studies General toxicology test is required for dose determination for No observed effect level (NOEL). The acute toxicity test is also known single dose toxicity and is required to assess biochemical dysregulation and also to determine the levels at which the anti-arthritis drug could cause an adverse reaction. The animals used for general toxicity test are rats and dogs and are usually dosed between 14-28days. Change in organ weight, histopathology, mortality rate, clinical pathology and necropsy are the parameters required to assess toxicity.General toxicology must be done before one month of reproductive studies. Reproductive Toxicity Studies The aim of reproductive toxicity studies is to reveal any effect of the anti-arthritis drug on mammalian reproduction. Rats and rabbits are the most commonly used and widely accepted animal. Rabbits are used because semen is easily collected. The ICH study design for reproductive toxicity studies include fertility and early embryonic development to implantation (rabbits dosed from day 6-18, rats dosed from day 6-15), organogenesis otherwise known as embryo-foetal development and pre and post-natal development (treatment last for 15gestation days and 21lactation days).The study design for fertility and early embryonic development studies requires four groups of 20males and 20females animal. Also, the study design for embryo-foetal development generally have four groups of 20rats or 20rabbits and ICH require evaluation of 16 to 20litters to provide a degree of consistency between studies [8; 9; 12; 13; 14]. Information derived from acute and repeated dose toxicity studies of at least o ne month are required before reproductive toxicology. Conclusion Pre-clinical studies must be carried out before clinical trials so as to protect human volunteers. All the studies described above determine how competent the anti-arthritis drug is before proceeding to clinical trials. All the regulations provided by ICH are widely used most especially the concept of 3Rs. Safety, quality and efficacy are the main objectives for carrying out preclinical studies. Some of the test required during preclinical studies includes carcinogenicity test which involves the short term and long term studies, genotoxicity test, reproductive test, safety pharmacology, renal toxicity test, cardiovascular toxicity test, general toxicity test and neurotoxicity test (functional observation battery test). REFERENCES ICH harmonised tripartite guideline, Dose selection for carcinogenicity studies of pharmaceuticals S1C(R2). Available at: http://www.ema.europa.eu/pdfs/human/ich/038395en.pdf ICH harmonised tripartite guideline, Guidance on specific aspects of regulatory genotoxicity tests for pharmaceuticals S2A Available at: http://www.bcg-usa.com/regulatory/docs/ich/ICHS2A.pdf ICH harmonised tripartite guideline, Safety pharmacology studies for human pharmaceuticals S7A. Available at: http://www.tga.gov.au/docs/pdf/euguide/ich/053900en.pdf G.B. Jena et al., 2001, Genotoxicity testing, a regulatory requirement for drug discovery and development: impact of ICH guidelines, Indian Journal of Pharmacology. David J. Tweats 1998, Impact of ICH guidelines on genotoxicity testing, PSTT Vol 1, No. 5. ICH harmonised tripartite guideline, Guideline on the need for carcinogenicity studies of pharmaceuticals S1A. Available at: http://www.bcg-usa.com/regulatory/docs/ich/ICHS1A.pdf Guideline for industry, The need for long-term rodent carcinogenicity studies of pharmaceuticals. Availableat: http://www.fda.gov/downloads/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/ucm074911.pdf ICH M3; Timing of pre-clinical studies in relation to clinical trials (see safety topics). Available at: http://www.ich.org/cache/compo/276-254-1.html Preclinical toxicology: Points to consider in programme design. Available at: http://www.pacificbiolabs.com/preclinical James L. Stevens, (2006). Future of toxicology mechanisms of toxicity and drug safety: where do we go from here? Chem. Res. Toxicol., 19, 1393-1401. Yasuo Ohno, (2002). ICH Guidelines-Implementation of the 3Rs: Incorporating Best Scientific Practices into the regulatory Process. Regulatory Testing and Animal Welfare. ILAR Journal V43 Supplement 2002. Lecture notes by Dr Jean-Pierre Valentin, Director Safety Pharmacology, Safety Assessment UK, AstraZeneca. Lecture notes by Dr Lorna M. Burns, Sequani limited, Ledbury, Herefordshire Lecture notes by Dr M. Kelly.
Wednesday, November 13, 2019
The Glass Ceiling - Does It Still Exist? Essay -- Equality Work Minori
The Glass Ceiling - Does It Still Exist? There are many questions that come to mind when looking at the structure of any organizations. Within the social organization, employees face many challenges such as sexual harassment, violence, rape, depression, and discrimination. These issues in their respective organizations are a hindrance to their success and can cause their personal and career development to suffer. But the key factor that will be focused regarding discrimination is women's struggles advancing in their careers often called the glass ceiling effect. In this research, the term "glass ceiling " will be defined, answer the question "Who is affected by such barrier and why", what acts helped pave the way, and determine any recommendations to solve the problem. Glass ceiling is defined as the invisible barrier that keeps women from advancing to high level positions. In the Microsoft Encarta World Encyclopedia, the term glass ceiling is a "barrier to career advancement: an unofficial but real impediment to somebody's advancement into upper-level management positions because of dissemination based on the person's gender, age, race, ethnicity, or sexual preference." In other words, "Glass ceiling" is a negative barrier of attitudes and prejudices preventing women and minorities to move up in their corporate ladder. It holds many to stay at their lower level positions and not given a chance to show their abilities and improve themselves. Another definition given to this invisible barrier is it "describes cases in which women begin their careers on an equal footing with men, and either lose ground gradually over time, or continue to progress on par with their male counterpart until, at some point, their progress is bloc... ...uarterly. Vol. 46 (December 1997): 148-154 Gerber, Robin D. " Tech Rage Pierces the Glass Ceiling". Online Available: http://www.academy.umd.edu/AboutUs/news/articles/4-24-00.htm Hardy, Lawrence. "Why Teachers Leave." The American School Board Journal. Vol. 186 (June 1999): 12-17 Hernandez, Thomas J. and Morales, Nestor E. "Career, Culture, and Compromise: Career Development Experiences of Latinas Working in Higher Education." The Career Development Quarterly. Vol. 48 (September 1999): 45-58 Morgan, Laurie A. "Glass Ceiling Effect or Cohort Effect? A longitudinal Study of the Gender Earnings Gap for Engineers, 1982 to 1989." American Sociological Review. Vol 63 (August 1998): 479-493 Nelson, Anne V. " It's Lonely at the Top". Women.com Buzz: Equal Pay in the Fortune 500? Not yet. Online. Available. http://www.women.com/news/buzz/d1112wagegap.html
Subscribe to:
Comments (Atom)