Lincoln Electric Case Study free essay sample

Running head: LINCOLN ELECTRIC CASE STUDY Lincoln Electric Case Study Edris Holland Grand Canyon University Leading As a General Manager: LDR 620 Professor Brian Johnson July 27, 2011 Lincoln Electric Case Study Lincoln Electric Case Study Questions 1. Does Lincoln follow a various leveled or decentralized way to deal with the board? Clarify your answer and give models. Lincoln follows a decentralized way to deal with the board. The organization has an open-entryway strategy for every single top official, center supervisors, and creation laborers, and normal up close and personal correspondence is empowered. Laborers are required to challenge the executives in the event that they accept practices or remuneration rates are out of line. As indicated by (Daft, 2010) open-book the board is utilized in decentralized associations to share the money related state of an organization with all workers. Open-book the executives energizes dynamic cooperation in accomplishing hierarchical objectives, enables the representative to see how their activity influences the money related achievement of the association, and permits workers to see the relationship and significance of every business work (Daft, p. We will compose a custom exposition test on Lincoln Electric Case Study or then again any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page 560). . In light of what you’ve simply read, what do you think makes the Lincoln System so effective in the United States? Lincoln utilizes a various control approach. Errands are absolutely characterized, and singular representatives must surpass severe execution objectives to accomplish top compensation. The motivating force and control framework is incredible. Creation laborers are paid on a piece-rate premise, in addition to justify pay dependent on execution. Representatives are likewise qualified for yearly rewards, which vacillate as indicated by the company’s benefits, and they take part in stock buy plans. A worker’s reward depends on four components: work profitability, work quality, reliability, and collaboration with others. Some assembly line laborers at Lincoln have earned more than $100,000 per year. 3. The issue with moving Lincoln’s control frameworks to other national societies is Managers at global plants neglected to meet their creation and money related objectives consistently and they overstated the objectives sent to Lincoln’s administrators to get more assets, particularly during the downturn in Europe and South America. Numerous abroad supervisors wanted to expand deals, and laborers were discovered resting on seats in light of the fact that insufficient work was accessible. The European work culture was antagonistic to the piecework and reward control framework. The recommendations I would you make to Lincoln’s directors to make future global assembling plants progressively fruitful is the need to mingle the expat as they did the United States specialist expanding the â€Å"buy in. † Team building meetings and instructing with remuneration motivations and functions to expand moral. There ought to be no laborers dozing at work and staffing ought to be managed by the work to be done which should be possible by executing work sharing. A social evaluation should be done in each organization and infuse that culture into the vision of each company’s culture comprehensive of nourishments in the lounge social socialization rehearses and more tight control. A chain of importance framework with space for development and headway additionally could be presented. A program like six sigma control would be valuable to distinguish quantify and improve the main concern and consumer loyalty in the organization. . Should Lincoln get cash and pay rewards to abstain from breaking trust with its U. S. laborers? Why or why not. No, I accept they ought to scale down and return to what fills in just as framing and controlling alliance to investigate and perhaps get and outside office to assess the issues for hierarchical improvement and approaches to expand the company’s flexibly chain. End Lincoln Electric has set up itself in the course of the most recent 100-years as an effective organization and an ideal business. Lincoln Electric has built up a lot of methods and strategies that help to make it an attractive business; these incorporate the piece-rate pay program, the year-end reward and motivating force program, just as worker inclusion programs. Every one of these apparatuses fills in as a factor between the ward and the free factor. The free factors were characterized as inspiration and capacity work fit while the reliant factors were distinguished as non-appearance, turnover, work fulfillment and profitability will require vital control changes to adjust to the worldwide market to be serious by executing elective ontrol gauges by re-appropriating to proceed the company’s achievement (Buller Schuler, 2006). References Daft, R. L. (2010). Getting Management. (ninth ed. ). p. 560. Bricklayer, OH: South-Western Cengage Learning. . Buller Schuler (2006). Overseeing associations and individuals: Cases in the board, Organizational conduct and human asset the executives. Bricklayer: Thomson South-Western. Lincoln Electric: A Case Study: Joe Attinello, Cali Cook, Alia Goss, Kurt Oliver, Mark Strom, Mike Torbenson Business 305Linda Gibson. October 7, 2005. Recovered from www. plu. edu

Role of Banks in the Economic Development Essay Example for Free

Job of Banks in the Economic Development Essay Bank: An association, normally an organization, contracted by a state or government, which does most or the entirety of the accompanying: gets request stores and time stores, respects instruments drawn on them, and pays enthusiasm on them; limits notes, makes credits, and puts resources into protections; gathers checks,drafts, and notes; guarantees contributors checks; and issues drafts and clerks checks. Highlights of Bank: †¢ Money Dealing †¢ Acceptance of Deposit †¢ Grant of advance and advances †¢ Payment and withdrawal of stores †¢ Transfer of assets †¢ Portfolio the executives †¢ Foreign Exchange managing Banking; By and large terms, the business movement of tolerating and shielding cash claimed by others and substance and afterward loaning out this cash so as to gain a benefit. Banking is a business of tolerating stores and loaning cash. It is completed by money related middle people, which plays out the elements of shielding stores and giving advances to the general population. As it were, Banking implies tolerating to loan or speculation of stores of cash from open repayable on request and can be pulled back by checks, draft request, etc. Banking Company: Any organization, which executes the matter of banking Banking System: Banking System is a primary component through which the cash flexibly of the nation is made and controlled. The financial framework empowers us to comprehend Commercial Banks, Secondary Banks, Central Banks, Merchant Bank or Accepting Houses and Discount Houses yet to bar the Saving Banks and Investment and different delegates. Number and kinds of Banks: The quantity of banks in all currently remains at 49 in Bangladesh. Out of the 49 banks, four are Nationalized Commercial Banks (NCBs), 28 neighborhood private business banks, 12 outside banks and the rest five are Development Financial Institutions (DFIs). Sonali Bank is the biggest among the NCBs while Pubali is driving in the private ones. Among the 12 remote banks, Standard Chartered has gotten the biggest in the nation. Other than the planned banks, Samabai (Cooperative) Bank, Ansar-VDP Bank, Karmasansthan (Employment) Bank and Grameen bank are working in the monetary part. The quantity of all out parts of every single booked bank is 6,038 as of June 2000. Of the branches, 39.95 percent (2,412) are situated in the urban territories and 60.05 percent (3,626) in the country zones. Of the branches NCBs hold 3,616, private business banks 1,214, outside banks 31 and particular banks 1,177. Bangladesh Bank (BB) directs and oversees the exercises everything being equal. The BB is currently doing a change program to guarantee quality administrations by the banks. Business Bank: A bank offering financial records, investment accounts, testaments of store, individual and business credits, and other, comparable administrations. Business banks charge expenses as well as enthusiasm for a significant number of their administrations, however they may pay enthusiasm on different administrations. A retail bank is frequently an individual part of a business bank where one may acquire these administrations. The fundamental elements of business banks: The primary elements of business banks are tolerating stores from the general population and propelling them credits. In any case, other than these capacities there are numerous different capacities which these banks perform. Every one of these capacities can be separated under the accompanying heads: 1. Tolerating Deposits: The most significant capacity of business banks is to acknowledge stores from general society. Different segments of society, as per their necessities and monetary condition, store their reserve funds with the banks. For instance, fixed and low pay bunch individuals store their reserve funds in modest quantities from the perspectives of security, salary and sparing advancement. Then again, brokers and businesspeople store their investment funds in the banks for the accommodation of installment. 3. Over-Draft: Banks advance credits to its customer’s up-to a specific sum through over-drafts, if there are no stores in the present record. For this banks request a security from the clients and charge extremely high pace of premium. 4. Limiting of Bills of Exchange: This is the most common and significant strategy for propelling advances to the brokers for transient purposes. Under this framework, banks advance advances to the merchants and business firms by limiting their bills. Thusly, agents get advances based on their bills of trade before the hour of their development. 5. Speculation of Funds: The banks put their excess assets in three kinds of securitiesâ€Government protections, other affirmed protections and different protections. Government protections incorporate both, focal and state governments, for example, treasury charges, national investment funds authentication and so forth. Different protections incorporate protections of state related bodies like power sheets, lodging sheets, debentures of Land Development Banks units of UTI, portions of Regional Rural banks and so on. 6. Organization Functions: Banks work as specialists and agents of their clients. Clients give their assent for performing such capacities. The significant elements of these sorts are as per the following: 1. Banks gather checks, drafts, bills of trade and profits of the offers for their clients. 2. Banks make installment for their customers and now and again acknowledge the bills of trade: of their clients for which installment is made at the fixed time. 3. Banks pay protection premium of their clients. Other than this, they likewise store credit portions, personal expense, intrigue and so forth according to headings. 4. Banks buy and sell protections, offers and debentures for the benefit of their clients. 5. Banks organize to send cash starting with one spot then onto the next for the comfort of their clients. 7. Different Functions: Besides the capacities referenced above, banks perform numerous different elements of general utility which are as per the following: 1. Banks make game plan of storage spaces for the sheltered care of significant resources of their clients, for example, gold, silver, authoritative archives and so on 2. Banks give reference for their clients. 3. Banks gather vital and valuable measurements identifying with exchange and industry. 4. For encouraging remote exchange, banks attempt to sell and buy outside trade. 5. Banks prompt their customers identifying with speculation choices as master 6. Bank does the under-composing of offers and debentures too. 7. Banks issue letters of credit. 8. During regular disasters, banks are exceptionally helpful in preparing assets and gifts. 9. Banks give credits to shopper durables like Car, Air-conditioner, and Fridge and so on. National Bank: The substance answerable for managing the fiscal framework for a country (or gathering of countries). National banks have a wide scope of obligations, from supervising money related arrangement to actualizing explicit objectives, for example, cash steadiness, low expansion and full business. National banks additionally for the most part issue cash, work as the bank of the legislature, direct the credit framework, administer business banks, oversee trade holds and go about as a loan specialist after all other options have run out. Capacity of Central Bank: In the financial and banking arrangement of a nation, national bank possesses focal position and maybe, it is a direct result of this reality this called as the national bank. Along these lines, this bank fills in as an establishment whose fundamental target is to control and manage cash flexibly keeping in see the government assistance of the individuals. National bank is a foundation that satisfies the credit needs of banks and other acknowledge organization, which woks as investor to the banks and the administration and which work for the monetary enthusiasm of the nation. 1. Imposing business model of note issue: Note issue principally is the primary capacity of a national bank in each nation. Nowadays, in all the nations where there is a national bank by and large it has the syndication of the sole right important issue. Before all else this was not the capacity of national bank, yet steadily all the national bank gas obtains this capacity. There are numerous points of interest of the note issue by national banks some significant ones are: 1. National bank controls the credit making intensity of business bank. By controlling the measure of cash available for use, the volume of credit can be controlled to a serious enormous degree. 2. Individuals have more trust in the money gave by the control bank since it has the assurance and acknowledgment of the legislature. 3. In case of imposing business model of note issue of national bank, there will be consistency in the cash framework in the nation. 4. The cash of the nation will be adaptable if the national bank of the nation has the imposing business model of note issue since national bank can realize changes from the get-go in the volume of paper cash as indicated by the necessities of business, industry and wrecks. 5. The arrangement of note issue has a few preferences. On the off chance that the national bank of the nation has the imposing business model of note issue, every single such preferred position will gather to the administration. 2. Brokers, Agent and Adviser to the Government: As investor to the administration, national bank gives every one of those administration and offices to the administration which open gets from the normal banks. It works the record of the open endeavor. It troughs government departmental endeavor and government reserves and where there is a need offers credit to the legislature. Now and again, national bank guidance the legislature on fiscal, banking and monetary issues. 3. Overseer of Cash Reserve of Commercial Bank: Central bank is the bank of banks. This implies it has a similar relationship with the business banks in the nation that they gave with their clients. It gives security to their money saves, give them credit at the period of scarcity, offers them guidance on budgetary and monetary issue and work as clearing house among different individuals bank. 4. Overseer of Nation’s Reserve of International: Central bank is the caretaker o

Baseball vs. Football - Free Essay Example

All sports have similarities, whether its the equipment used during the games, the season lengths, or the career lengths. The mental and physical aspects of the sports balance out depending on the athlete and how invested they are into what theyre doing. Baseball and football have many similarities as well as differences. Baseball includes not only physical but mental strength to be able to not only compete but to develop the ability to reach the peak of an athletic career. In this sport, thinking about the basic needed materials are mainly needing a baseball, a bat and a glove, and a place to play. What is not taken into consideration is the other equipment that is used. The equipment that is not always seen in an actual game. Such as the tees used to hit off of. Also the pitching machines that are used for either taking swings for practice as well as pop flys and ground balls for defensive purposes. There are also many more types of equipment that have been invented to help prepare an athlete in bettering his game to perform at his highest level. As stated on the website, Daily Caller, the first professional baseball game was played in June of 1846 in New Jersey. Although baseball has been around for several centuries now, it still continues to develop each year and become a bigger industry. Once it reached its most popular point to where it was not only being broadcasted on the radio, but on the television as well. People began to travel far and wide to experience the games in the stadiums. Baseball was also considered an All-American sport. Not only did it begin to sweep the nation, but made milestones within racial diversities as well. A MLB baseball season is played out by multiple series throughout the year. For example a team will play another team usually a best of three series. Sometimes they will even play up to either four or five games. Throughout the whole year they will continue to do this to make up for the 162 game season they play. During those games they will play teams in their division and also out of their division. Their records rank them in the division and determines who will continue playing at the end of the year when the postseason begins. After the post season begins the teams out of each division will advance on to the postseason. However if there is a tie-breaker between two teams they will have to play a one game for elimination to see which team advances. That game is known as, Game 163. After all ties are settled the teams move on to the postseason. There is where they are put into a bracket and each of the eight teams play to be crowned champions of the World Series. Now there are two different leagues between these eight teams. There is the American League and the National League. Four teams from each side. On each side teams will play in different division series. First there is the ALDS/NLDS which is the American and National League Division series. This series is a best of five. Following that is the ALCS/NLCS. That is the American and National League Championship Series. Whoever is to win that series from each side, which is a best of seven series. Will be crowned champion of their league. Then the two remaining teams, one from the American league and the other from the National League will go on to play in the World Series Championship. The winner of this best of seven series will go on to be called the World Series Champions of that season. After the year and throughout the year many will announce retirement. Majority because of age and some other because of injury. As well as others who didnt make it because of poor agency marketing. But the career length of a baseball player is much more than that of a football player. That happens to be because footba ll is a much more intense sport of contact. According to Science Daily, the average career length for a baseball player is 5.6 years. If that person is having successful years. If not then the persons career could be shorter. Football is also a sport that requires physical and mental strength. But there is more to the sport than just those two attributes. These players need equipment as well. But the type of equipment is much different. Yes, they still have cleats, gloves, and helmets. But there wouldnt it be strange if baseball players wore shoulder pads. Also the equipment they use for practice is not the same. They have tackling dummies that they use to enhance their tackling skills. Also there are chutes and sleds that they use which help them act like they are running through a defending tackler. Also it helps them develop quicker feet for in game routines. Which is something that isnt as big of a deal for baseball. I mentioned for baseball that a tee was needed to hit off of. Well in football they also use tees. But these tees are made differently and serve different purposes. A tee in football is used for kicking. On kickoffs it is used as a holding device for the football. Also on extra points and field goals they use a flat tee to set the ball on to help the kicker get under the ball. Now the season is not near as long as baseballs season. If a football season lasted even half as long as a baseball season many players would not have a very long career due to injury and fatigue to the body. The NFL season has 17 weeks of regular season games. They are also broken into two different divisions. There is the NFC and the AFC, which stands for the National Football Conference and the American Football Conference. Out of those two divisions the top six teams make it into the playoffs bracket. The top two seeds get a bye straight into the divisional rounds. The other four seeds, three through six play in a Wild Card series. The winners of the wild card series move on to play the one and two seeds in the divisional rounds. Then they will play those games and the winners move on into the Conference Championship. At this point there are four total teams left. Two from the NFC and two from the AFC. The winner of these rounds will be named the Conference Champions and move on to play in the Super bowl. The winner of that game will be the Super Bowl Champions of that season. Now as we know there is an end to everything. As bad as these guys would like to continue to play, they understand that there is a time where enough is enough. The average career length in the nfl is 3.3 years as mentioned on the Statistics Portal. It comes down to the fact that our bodies can only handle so much. With most of these careers this was the cause. Playing in the league for so long took an effect ive toll on players bodies which forced them to retire. Other because they had sustained an injury so bad that they couldnt physically step back on the field. Then there are the ones that have been playing for a lengthy amount of years, and age causes them to go out of the game to enjoy the rest of their life on their successful careers. So as you can tell the two games over many different experiences. They have their different styles of equipment, and ways of using it. As well as the different type of seasons they play. Whether its in the regular season, or the postseason, the games are still played differently. Then there are the careers and how long they last. As well as some of the causes that bring ends to to their careers.

The Mafias Money Laundering - 988 Words

Money Laundering The term money laundering is said to create from Mafia possession of Laundromats in the United States. Gangsters there were earning huge sums in cash from extortion, prostitution, gambling and bootleg liquor. They needed to demonstrate a legitimate source for these monies. ‘Money laundering is the process by which criminals try to conceal the true origion and ownership of the proceeds of their criminal activity, allowing them to maintain control over the proceeds and, in the end, providing a legitimate cover for their sources of income’. In the 1980’s, money laundering was considered only as interest basically with drug trackling backgrund. It created trouble in western society, because the profit genration was increasing from criminal activities. Therefore, there was a force from society to take action against drug dealers by introducing legislation that would remove them of their illegal gains. Government soon identified that criminal organizations, which made massive profits from drugs, could corrupt the system of state at all levels. Money laundering is a worldwide trend, supported by international society which is a 24hrs a day business. If one closes, another opens for business. As a 1993 UN Report noted: The essential features of laundering of profits of crime are its global nature, the flexibility and adapbility of its operations. These make the crime in an organized manner. Moreover, a very important point which should not be ignored at any costShow MoreRelatedThe Mafia Essay1298 Words   |  6 Pagessystem does not function very well in Italy. And where there is no law, there is no sin (www.bestofsicily.com).† In the 1930’s, when the Fascists rose to power in Italy, Mussolini had most of Cosa Nostra thrown in jail. This gave way to the Mafia’s sympathy to the American cause, or at least their hostility to the fascist one. â€Å"In reality, the relationship between the Fascists and the Mafia was that of one group of criminals pitted against another–-two wolves fighting over the same chickenRead MoreThe Origins Of The American Mafia1711 Words   |  7 Pagesmanufacture, sale, and distribution of alcohol was strictly banned. The budding American Mafia took this as a business opportunity and turned to bootlegging. They were incredibly successful at this and their crime regime also grew to include money laundering, smuggling, and bribing officials. Meanwhile in Italy, the Sicilian Mafia was in a battle with Italian fascist leader Benito Mussolini, which led to several members immigrating to America and joined in on the bootlegging business. While theRead MoreLaw Enfor cement, US Military, and Terrorism923 Words   |  4 Pagesnot limited to, extortion, abduction, human smuggling, prostitution, drug trafficking, theft money laundering, and fraud. Furthermore, the Russian Mafia is heavily involved in scams such as healthcare and strategic commodities fraud, and credit card, insurance securities, and investment fraud. They are also involved in tax evasion and energy price rigging (17). In the United States, the Russian Mafias criminal activities have forced the FBI to establish special task forces in New York City, NewRead MoreEssay on The Mafia: Wealth and Politics in the 19201549 Words   |  7 PagesCapone is reputed to have amassed and inherited a fortune in excess of twenty million dollars through his illegal activities (Bequai 40). He then laundered his money through personal banks, real estate firms, hotels, and a number of other legal investments he operated. The American government saw none of their share of this blood money ; Capone never bothered with taxes. After years of futilely trying to incriminate him with Mafia activities, Capone was finally sent to Alcatraz for tax evasionRead More New England Patriarca Mafia Essay2693 Words   |  11 PagesPatriarca mafia is rooted in the efforts of Gaspare Messina. In 1916, Messina created the New England mafia and died in 1924. Succeeded by Filippo (Phil Buccola) Brucolla, most of the mafia’s inc ome was coming from mob staples such as loansharking, numbers-fixing, and bootlegging. Starting at the top of the mafia’s pyramid-like structure is the national commission*, then the boss*, underboss*, consiglieri*, Caporegime*, soldiers*, associates*, and protectors*. In 1931, Bucolla gained the respectRead More THe Mafia Essay1064 Words   |  5 Pagescharges of stock fraud and money laundering. Sex probably rates higher than whiskey in desirability, and so organized crime moved into illegal prostitution. these are just a spoonful or what the Mafia does. Racketeering; fraud; car theft; robbery; armed assault; drug dealing; trafficking in weapons and radioactive material; trafficking in human beings and exploitation through prostitution; alien smuggling; smuggling of precious and antique goods; extortion for protection money; gambling; embezzling fromRead MoreThe Russian Mafia Essay1794 Words   |  8 Pagesimaginable kind of criminal activity from drug trafficking and mon ey laundering to protectionism, which penetrates into every area of society. Under the laws of the Soviet Union, the regulations were strong and external. Now the external regulators have disappeared allowing the Russian Mafia to exceedingly enlarge its strength and influence especially with the accelerated speed of privatization without legal safeguards. 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Canada s Health Care System - 3104 Words

Introduction When health care is the case, the majority refers to Canada as a country with good health care. Canada might have free health care but this doesn’t mean that it serves its purpose without any flaws. As we all know some countries are well known all around the world for their health care system. Specifically talking about Canada’s health care system, there are many pros and cons that go with it. There are minor problems concerning health care, but for now we will talk about the major ones. What is obvious is that advantages of the health care system in Canada are more then the disadvantages. According to (Carol, 2011), Canada was ranked number 30th for best health care system out of 191 countries. It is a shame that neither†¦show more content†¦Waiting in the emergency line of the hospital is even worse. In some cases patients have to wait for more then 10 hours. This is ridiculous! When a patient goes to emergency, it is urgent and cannot wait. One of the reason s for this is that hospitals are packed, and this is a disadvantage of free health care. For example, what if a patients sickness get worse or God forbid the patient dies while waiting for treatment. Who is going to be responsible for this? The answer is simple, it will be the government. For example, Statistics Canada found that about one fifth of patients who visited a specialist, and about 11 per cent of those waiting for non-emergency surgery, were adversely affected by their wait. Many reported experiencing worry, stress, anxiety, pain, and difficulties with daily activities. (Barua, 2014). It is not easy to solve this problem, but somebody has to put their autrhoity on the table. One way to help with wait-times could be to work more organized. When we go to our local hospital there is just one emergency section, I think that there should be more emergency areas and each one should have different degree of urgency, even tough most hospitals have fast track areas to take care of non-urgent patients. So maybe the less severe in one area and the really crucial ones in another. Wait times is

Market Entry Strategy Healthcare Services

Question: Discuss about the Market Entry Strategy for Healthcare Services. Answer: Introduction Expansion of business outside its host country needs a lot of deliberations before investment is made as the amount involved is huge. Companies in any field need to analyse the risks and opportunities associated with that country before venturing into it. Apart from looking at the country from a macro perspective, it should be looked at in a micro perspective as well. The said report concentrates upon the expansion plan of a pharmaceutical company of Australia who is looking at expanding its business in China or South Africa depending upon the possible opportunities the market proposes and the available risks that the company has to face. Basis this analysis a country would be chosen and then an entry mode is suggested which would help the company to enter the market without losing on its investment. Herron Pharmaceuticals- Background Herron Pharmaceuticals is an Australian pharmaceutical company which manufactures pharmaceutical and natural healthcare items. It is a subsidiary of Sigma Pharmaceuticals. It was founded two decades ago and they are well known for producing medicines such as Paracetamol and Ibuprofen two of the most renowned medicines for fever. They even produce an entire range of vitamin tablets for kids and range of baby care products such a nappy rash cream. The said company is planning to expand its business globally. For the same it is looking at either of the two markets- China and South Africa. Both the markets are very lucrative but a detailed analysis of the possible risks and opportunities have to be done of the two countries so that the most apt choice can be made for the same. China- An Opportunistic Market China is one of the largest pharmaceutical markets in the world but due to its population it is still defined as an immature market. However in the next ten years the pharmaceutical industry of the country may grow leaps and bounds. Stimulus for the same is the improving research and development activities, the skilled labour force, and awareness amongst the people about the importance of taking care of health, government participation and development of the economic conditions. Even though the pace at which the growth of the pharmaceutical market of China may vary but various eminent observers such as the Economist Intelligence Unit (EIU) and IMS Health are very positive about Chinas pharmaceutical market. The opportunities in the China market are viewed as under: The increase in the ageing population of China is one of the biggest opportunities it provides to the pharmaceutical companies across the globe. The population of China is expected to be the highest by the end of the year 2016 of which although the elderly population is low but is expected to be at a percentage of 9.7 which is an increase of around 1% in the last five years. The ageing population will naturally demand for more health related assistance due to weak immunity system. The present statistics reveal that around 23% to 40% comprise of elderly people who constitute the prescription drug market and half a century of the population demand for over the counter drug market. The second carrot for Herron Pharmaceuticals for investing in the Chinese market is the low manufacturing and selling expenses that the country offers. The market is seen growing at an average rate of 20% per year and there are no signs of slowing down of the same. There has been an upsurge in the RD area of China because of lower costs, larger patent pool, increment in the capabilities of the scientists who produce drugs and the enhanced knowledge of the local players in the industry (Ispirit Business Solutions, 2016). The said market is preferred the most due to lack of too much of emphasis on regulatory requirements as compared to other countries across the globe. China is one such market which has always welcomed the foreign drug players and has won the hearts of the customers against the domestic standardized brands. This also gives a big opportunity to the global market players to invest in China. Last but not the least, the process of formation of a company or setting up of a distribution and manufacturing channel is simpler. It gives options to the companies to obtain a Drug manufacturing License or a Drug Distribution License or both after incorporation as well. Secondly the price controls that were put by the Chinese Government over around a quarter of a percentage medicines have been lifted (cphi.com., 2016). Risks Involved in The Chinese Market Along with the potential opportunities which the Chinese market offers to the pharmaceutical industry players which give it a nod to invest in China, there lie some risks which cannot be wade off. These risks should be analysed in detail before investing in the Chinese pharmaceutical sector. To enumerate a few: The biggest risk being faced by the pharmaceutical companies in China are the investigations which are being conducted in this industry. For example Glaxo SmithKline which has been one of the pre-dominant players in the Chinese pharmaceutical industry is under great vigilance and has been caught for instances of bribery and corruption which has affected its sales (Caroll, 2013). A state-run campaign in China has led to lowering of the drug prices in the country thus affecting the sales. The Chinas government run health insurance funds are forced to negotiate with the drug suppliers for the prices because of the increase in the ageing population and the diseases (Bulloch, 2016). Thirdly the economic growth of the country has suffered a hit, i.e. it is growing in a very staggered manner which has led to slowing down of the premiums that people used to pay for medical insurance (Harris, 2014). Fourthly the introduction of bidding in order to sell medicines in public hospitals has hurt both domestic as well as foreign pharmaceutical companies. Due to this the local companies are seen to be in a better position thus hitting the investments of various international companies (Bloomberg 2016). Opportunities in The Market of South Africa The South African market is also a lucrative market for the foreign companies to invest into. The country offers various opportunities which are enlisted below. They are as under: The domestic production in Africa is very low which gives room to the foreign entrants. The issues that the domestic market faces can be used as an opportunity by the foreign players such as lack of better research and development capabilities and shortfall in the capital and the domestic skills which these foreign companies possess. Further the support of the government to the local pharmaceutical companies is also an opportunity based on which these foreign companies can get a hold to the South African market (Holt et.al. 2015). Urbanization is yet another reason for investing in the South African Market. Within a decade it is expected that nearly two-fifths of the economic growth is expected to come from thirty cities. The purchasing power is very high and people in those cities are inclined towards buying expensive and modern medicines (Taylor, 2013). Expansion of pharmaceutical companies in South Africa is lucrative also because of an increase in the health care facilities such as addition of hospital beds, new doctors and nurses. The count is in thousands. The government of South Africa has contributed a lot for the development of pharma sector which has opened room for greater foreign investment. The drug approval process was very slow in the country which has now speed up. The Medicines Control Council is being replaced by South African Health Products Regulatory Agency (SAHPRA) which has emerged as a major contributor for providing incentives to the foreign pharmaceutical companies. The registration process was one of the major concerns for the foreign entities which will be addressed by this agency. It will reduce the time gap from five years to one year (PR Newswire, 2013). Risks Involved in the South African Market Even though the market of South Africa may seem to be lucrative from a foreign investors view point yet the same also poses risks which cannot be ignored. Some of the prominent issues faced are enumerated as under: The biggest risk that the foreign entrants may face is in the wake of the support by the government to the local pharmaceutical companies. Export is very low, which clearly indicates that whatever is produced is consumed within the country itself. Government has announced that first mover advantage would be given to the local pharmaceutical manufacturing companies in case of awarding of National tenders for the supply of medicines. The companies here operate on a very low margin of profit. Although the risk of failure is very low because of income guarantee as the chances of changes in the input costs are very low as well. Thus for foreign entrants the market is not very attractive due to low margins and in some cases no margins at all (Singh, 2012). The phased roll out of the National Health Insurance Scheme by the government of South Africa is one of the biggest reasons deterring the foreign investors to invest in the pharmaceutical segment. The government has plans to build an indigenous manufacturing plant for generic drugs and is expected to be in operation (Oxford Business Group, 2014). China As The Preferred Destination Country I being an international operations manager of the company, on analysing the various risks and opportunities associated with China and South Africa would conclude that China seems to be a more lucrative market for investment. Factors such as low cost production, adequacy of availability of the number of labour, government regulations, population of the country, support of the masses to the foreign pharmaceutical companies and most importantly the infrastructure facilities available all are major deciding factors. However political, economic cultural and ethical risks are equally important decisive factors. Both the countries have risks and opportunities attached but on analysing the two it are found that China is more preferable as an investment country since the demand for health care amenities, drugs and medicines have increased manifolds. The governments support is stronger in South Africa due to which it is difficult or at least time taking to break through the market of South Africa as compared to that of China. The economic growth although slowing down but not as much as that of South Africa also makes it an attractive country. More importantly China is viewed as a country which is capable of producing low cost medicines and provide better infrastructure which is the need for any manufacturing firm. The next important criterion which weighs the Chinese Market above the South African market is the high-end research and development facilities. Although South Africa also offers an increase in the amount of health care amenities yet it is far behind than that offered by China. Theref ore on studying these issues in depth it is clear that our company should invest in the Chinese market as its strategy of expansion. Strategy to Enter The Chinese Market The best part about entering the Chinese market is the warm welcome which the people of china give to the foreign enterprises in spite of stricter government regulations and regime. Even though it is said to be one of the most difficult markets to penetrate into, the same is still possible. For the same we should study the strategies adopted by various foreign firms which would provide an aid to our company to plan an effective entry into the market of China. We should aim at entering the Tier 1 companies as a testing ground. Off lately Chinas Tier 2 cities have also developed a lot and is an attractive market for us. As in the case of Bluepharma which had been looking at China as an investment country since long first and foremost understood how it can succeed since the market is not too sensitive towards price fluctuations. It understood that in order to have a hold in China it has to enter into a partnership agreement with a Chinese partner which would ease the drug registration process and further partnership with others who would aid distribution of the drugs in China. Thus according to me we should firstly appoint a consultant from China who would enable us to find some good potential Chinese business partners for distribution and research and development This partnership would help us to understand which medicine is in high demand, which medicines are rarely available but of need and what kind of advertisements and selling strategies would attract the customers (EUSME Centre, 2012). Secondly to ensure ease in registration we should next find a Chinese partner who would help us in the same. Then we need to get Clinical Trials conducted in China even if the same is well known and accredited in other countries in the world. Therefore all thee can be possible if we enter into a joint venture with a Chinese partner who would hold a Drug Supply Certificate and enable such imports easily. Thirdly we should enter into a partnership only with such marketing agencies who are well known in China and the same differs state wise. We also need to understand the products whose patents have expired as it could be a good market for our products. Fourthly is the staff which we intend to hire. The lower level staff should be hired from local areas only but it is preferable to have at least one Chinese officer in the higher management there who would be well versed with the language and culture necessary to survive in China (Chitour, 2013). Lastly the most important part of our strategy or entering the Chinese market should be International Property Rights (IPR) Strategy. Violation of the IPR in China is very common thus we should consult lawyers and the IPR specialists to help in managing the said risk. The patent registration should be done at the earliest as this is the area which is most bleak. Therefore these are the basic strategies which according to me should be adopted in order to enter the Chinese market. Conclusion Thus on a concluding note I would like to reiterate over the fact that although both the markets China and South Africa have their own risks and opportunities which deter us to invest yet the Chinese market seems to be more lucrative due to the support it shows to the foreign companies. Not only citizens but the government itself welcomes foreign entities with a view to see an upsurge in their economic scenario. Though some restrictions are there which is necessary for the protection of the countrys economic growth but they are such restrictions which are acceptable by any new entrant. Therefore on a concluding note I would like to cast my opinion for China as a profitable and rewarding market to enter into. References: Caroll, D., (2013), Is Big Pharma Setting up for a China Sales Catastrophe?, Available at https://www.fool.com/investing/general/2013/09/19/is-big-pharma-setting-up-for-a-china-sales-catastr.aspx (Accessed 02nd September 2016) cphi.com., (2016), China Pharma Industry, Available at https://www.cphi.com/china/visit/why-visit/china-pharma-industry (Accessed 03rd September 2016) Bloomberg, (2016), Chinas Drug Price Cuts are Hitting Big Pharma Where It Hurts, Available at https://www.bloomberg.com/news/articles/2016-03-08/big-pharma-s-china-dream-meets-reality-of-price-cutting-campaign (Accessed 03rd September 2016) Bulloch, D., (2016), Chinas War on Big Pharma Exposes The Mirage of Market Access, Available at https://www.forbes.com/sites/douglasbulloch/2016/05/25/big-pharma-in-the-china-trade-market-or-mirage/#4c30655b368e (Accessed 03rd September 2016) Chitour, H.L., (2013), Big Pharma In China- The Driving Forces behind Their Success- A Qualitative Analysis, Chinese Studies, vol. 2, no.4, pp. 169-177 EUSME Centre, (2012), Bluepharma Entering the Chinese pharmaceutical market, Available at https://www.ccilc.pt/sites/default/files/casestudy_bluepharma.pdf (Accessed 03rd September 2016) Harris, D., (2014), Does a Prudent Market Entry Strategy for Healthcare Services in China Exist, Available at https://www.chinalawblog.com/2014/09/does-a-prudent-market-entry-strategy-for-healthcare-services-in-china-exist.html (Accessed 03rd September 2016) Holt, T., Lahrichi, M., Santos de Silva, J., (2015), Africa: A Continent of opportunity for pharma and patients, Available at https://www.mckinsey.com/industries/pharmaceuticals-and-medical-products/our-insights/africa-a-continent-of-opportunity-for-pharma-and-patients (Accessed 03rd September 2016) Ispirit Business Solutions, (2016), Should you be Investing in Chinese Pharma Sector?, Available at https://www.ispiritsolutions.com/blog-should-you-be-investing-in-chinese-pharma-sector/ (Accessed 02nd September 2016) Oxford Business Group, (2014), South Africas pharmaceutical industry braced for change, Available at https://www.oxfordbusinessgroup.com/news/south-africa%E2%80%99s-pharmaceutical-industry-braced-change (Accessed 03rd September 2016) PR Newswire, (2013), Emerging Pharmaceutical Market in South Africa Proposed Introduction of New Drug Regulatory Agency (SAHPRA) to Accelerate Drug Registration Process, Available at https://www.prnewswire.com/news-releases/emerging-pharmaceutical-market-in-south-africa---proposed-introduction-of-new-drug-regulatory-agency-sahpra-to-accelerate-drug-registration-process-190181371.html (Accessed 03rd September 2016) Singh, S., (2012), Pharmaceutical industry risk review, Available at https://www.bizcommunity.com/Article/196/398/79671.html (Accessed 03rd September 2016) Taylor, L., (2013), South Africa Pharma market to grow 5.8% / year to 2020, Available at https://www.pharmatimes.com/news/south_africa_pharma_market_to_grow_5.8year_to_2020_1004187 (Accessed 03rd September 2016)

The Whole Person Paradigm free essay sample

The Whole Person Paradigm Knowing oneself is the first step for the improvement of one’s personality. For us do better, we must first accept the things we are better at and the things we are the least, in short, identify your potentials, harness it with your passion and overcome your weaknesses. Personally one of the best traits that I feel I have is the urge for learning new things and adopting what can be really used. I can say that I am good in speaking, planning, organizing which I can use more in the teaching profession. Most of my former teachers who are presently my co-teachers often say that I have most of the talents and skills far better to be an excellent educator but still have to work on my attitude. They say I’m the â€Å"jack of all trades† which means having to know most but haven’t perfected or mastered some. We will write a custom essay sample on The Whole Person Paradigm or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Most people are easy saying things they believed they are good at but failed to accept the things they lacked with, and the worse, afraid to face the weaknesses they had. Second strength that I gained through experience is converting weakness as my strength by means of facing and learning from them. I do now believed that I should revalue attitude sided by skills and not to tend to forget the first. Number one is to add my patience, perseverance and love of work to anything accepted and took an oath to do, my responsibilities and duty. As a teacher, a learner, an educator and as a researcher I can touch lives by setting as an example of my persistence, patience and the willingness to help others. At the moment I’m assessing myself, it took me couple of days where to start on how to describe my life and end up hearing a song which I think best describes my life in that moment. The Climb-Myley Cyrus I can almost see it- To widen your vision in life. That dream I’m dreaming of I had a chance to redefine what are my dreams and goals at time being. There’s a voice inside my head said You’ll never reach it- I had the courage to continue personal progress. Every step I’m taking Every move I’m make me with Lost with no direction- I had set my time table and set target. My faith is shaking- My faith grows more. But I got to keep trying. Got to keep my head hailed high-Confidence together with hard work inside me matures. There’s always gonna be another mountain Never to lose hope and faith in God I’m always gonna wanna make it move†¦ Keep on moving†¦- Never to stop learning and believing.