Macro9C Essay Example | Topics and Well Written Essays - 1000 words

Macro9C - Essay Example Further, economists use different level for recognizing money (like M0, M1 etc.). And economists define a money multiplier to see the ratio of money supply and the actual monetary base in the economy. Now, the recent financial crisis has affected some parts of the definition of money especially as a store of value. The financial upturn has shown that most assets and asset classes previously believed to be the â€Å"safe† stores of value for money are in fact all driven by risk and can at some point in time not be â€Å"so safe†. For example, houses are one the largest stores of value but the global deterioration of property prices has made this option less valuable. Similarly, government bonds which were considered as the safest bets for store of value were actually no longer safe either as we see the example of Greece and their impending default of payment and/or restructuring of debt in Greece. Bank deposits were badly hit as storage of value with the bank-runs seen i n Northern Rock, UK and several other banks in the US. Currencies by nature of being subject to market demand and supply appreciate and depreciate with time and cannot be considered as safe stores of value either as was seen in the example of Asian financial crisis of the late 1990s. Secondly, the money multiplier, m, as explained by economists is supposed to be 1/R where R is the reserve requirement for banks. As seen during the financial crisis, this equation was not valid at all. Figure 1 below shows the variation of money multiplier from 1984 to present. We see that as soon as the financial crisis hit, even though there was little or no change in the reserve requirements, the money multiplier saw a huge drop to end up at less than 1.This means that while the government was creating supply of money, banks were reluctant to lend. Figure 1. M1 Money multiplier in the US – 1984 to March 2011 Source: Federal Reserve Bank of St. Louis Given the turnout of events as happened dur ing the financial crisis, there seems to be no readily identifiable group of assets that economists would consider as money. To be accepted as money by all, none of the assets satisfy all the criteria – bill of exchange, bonds, equities, deposits. Gold, silver and precious metal come close but as these are rare, and cannot really meet the demand for money, they cannot really be considered as money. Question 2 The structure of Federal reserve system is shown below in figure 1. Figure 1. Structure of Federal reserve system The components of the federal reserve system and their functions are described below: 1. Board of governors: they are appointed by the US president and confirmed by the US senate. The primary responsibility of the Board members is the formulation of monetary policy. The Board sets reserve requirements and shares the responsibility with the Reserve Banks for discount rate policy. 2. Federal Reserve banks: The 12 Federal Reserve banks operate under supervision of the board of governors. Each bank has 9 directors who appoint the bank presidents who form part of the Federal Open Market Comittee. The main role of the reserve banks is to influence the flow of money and credit in the economy. The Federal Reserve Banks hold, in their vaults, collateral for government agencies to secure public funds that are on deposit with private depository institutions. The Federal Rese

Marketing Considerations and Plans Essay Example for Free

Marketing Considerations and Plans Essay McDonald is one of the most internationally recognizable companies within the hospitality industry. Although I have not worked with McDonald ever, I am quite familiar with it as one of closest friends has been working with the marketing team of this restaurant chain for last four years. He keeps telling me about his company, how it runs its business so that it can maintain its top position within the fast food sector world wide. Apart from listening to my friend about his company, I also do research on McDonald by reading stories relating to McDonald published in various magazines, newspapers and on various websites as I am a fond of McDonald food staffs and love this fast food restaurant chain. McDonald Corporation listed in New York stock exchange has emerged as one of the world’s largest chain of fast food restaurants. It is most popular for its hamburger. Its customer base is so huge that worldwide it sells its products to around 47 million people on daily basis. The menu of McDonalds includes various sorts of burgers like hamburgers, cheese burgers etc. , products made of chicken, different sorts of breakfast items, French fries, various kinds of shakes, desserts and soft drinks. Mcdonald’s, however, quite often gets criticized over the healthiness of its products. These products are considered to be one of the important factors which are taking active part in increasing obesity in the western countries. The company, however, has made some effective measures in response to the rising obesity trend in the western countries and the criticism over the healthiness of its signature products. It has made some modifications to its menu by introducing several healthy food items like different types of salads, wraps and fruits. In spite of getting criticized over the healthiness of its products and having increasing competition within the industry, McDonald has been able to maintain its strong position within the industry it operates in. Its popularity has not decreased. Thus it would be quite interesting to look at the sources of its competitive advantage which have helped it to win the competition. In order to examine the sources of competitive advantage of McDonald, the strengths of the company will be analyzed in detail as strength of any company can be defined as a distinctive competence of the firm that gives it a competitive advantage in the market place. A firm can gain its strength from its financial resources, the image of its brand, leadership quality within the market and buyer-supplier relationships. (Competitive advantage, 2010; Ghosh, et al. n. d) In case of McDonald’s, its biggest strength is its brand image. Since McDonald’s is one of the most known chains of fast food in the world, its brand recognition seems to be its biggest strength. Its marketing campaign always focuses on brand recognition through continuous promotion of the brand name. Through its extensive marketing campaign world wide the company has been able to create an image in the people’s minds and introduce them to the fast food culture. Its customer base ranges from kinds to old generation. It has nearly 30,000 branches in as many as 120 nations across the world. However, 80 percent of its revenues are generated from the market of eight countries including US, UK, Japan, Australia, Canada, France, Brazil and Germany. The company has been able to expand its stores on the basis of three core strengths- cleanliness, delivery speed and customer care. McDonald has created a corporate symbol and through its highly successful marketing campaigns all round the world it has been able to develop a brand image and establish its logo in the minds of the people across the world. People are attracted to this logo and brand image and this attraction brings them to the stores. Although a number of competitors have emerged in the fast food industry, its rigorous marketing campaigns which are based on the company’s internal resources, external conditions and its relations with its shareholders have been able to strongly maintain its brand value in the market. (Ghosh, et al. n. d; Vijayarani, n. d. ) The brand name will not work in longer run unless brand value is mixed up with high quality product value. In order to obtain and maintain a strong position in the market, every company needs to use an appropriate marketing mix and product occupies one of the most significant positions within the marketing mix. Product value has been one of the greatest strengths of McDonald’s. When a customer enters into a McDonald’s store he/she know what to expect. The company places huge importance on its human resource and takes appropriate steps to satisfy it customers as well as its employees. As far as the product related issue is concerned, the company is also found to be quite innovative in introducing new products according to changing trends and tastes of the people. Not only that, it also offers different menu to the people living in different countries according to their tastes and the country’s culture. Fro example, in India it offers a menu which is completely different from its international offerings. In the stores situated in India, it has eliminated ham, mutton and beef burgers from the menu. India is found to be the only country where McDonald offers vegetarian menu. Which is more interesting is sauces, cheese etc, are also completely vegetarian in India. In India according to changing taste and preference of the customers, it has introduced Chicken Maharaja Mac. Thus the biggest strength of McDonald lies in the fact that it brings an internationally reputed brand with high class food quality and brilliant customer specific product features. This strength provides the company with huge competitive advantage. Vijayarani, n. d. ; Ghosh, et al. n. d) Till now only the sources of competitive advantages of McDonald have been discussed. But in order to survive amidst strong competition a company has to possess sustainable competitive advantages. Hence, it is now the time to look into sustainable competitive advantages of McDonald’s. For a company, its sustainable competitive advantage can be defined as the advantage which seems to be difficult or unfeasible for other co mpanies to own or infiltrate. The brand value, cost structure, vibrant customer care or its patent can be considered as sustainable competitive advantages for a company. An advantage should be considered as sustainable advantage only if the advantage has a distinct character or it is proprietary in nature. The sources of sustainable competitive advantages for McDonald’s can be as follows: ( Reidenbach and Goeke, 2006; Vijayarani, n. d) In order to build sustainable competitive advantage there should be a good integration and coordination between the company’s managerial and organizational process. If such integration takes place then there would be created the essential value as everyone will be chasing a common goal. In order to develop sustainable competitive advantage an organization is required to learn and introduce changes according to the need of the time and it should always be flexible towards changes that takes place in the external environment of the company, such as changes in customer’s taste and preferences, changes in government or legal restrictions, and development in the areas of technology. For McDonald’s, one of the principal reason behind surviving within current market competition is that the company is placing its focus on sustainable competitive advantages by making efforts to integrate organizational behavior with managerial expertise. McDonald’s, however, did not recognize the need of building sustainable competitive advantage previously. Earlier McDonald’s used to ignore this advantage as it was more interested in expanding its outlets across the globe than focusing on its core advantages. As a result of it, the company did not experience any massive change in its revenues with opening up of new outlets. In fact, it suffered huge loss unless it recognized the importance of building sustainable competitive advantage. The company was right in detecting the need of the hour and bringing about changes in its management process in order to possess completive edge over its competitors. ( Lamb et al. 2008; Levy and Weitz, 2001) A company can obtain an excellent position in the market through its financial, structural, and technological assets. All these assets significantly help in building sustainable competitive advantage for an organization. McDonald’s has been able to obtain a strong position in the market by its abundant financial resources along with plentiful structural and technological assets. Since 2003, the company has started to concentrate on identifying and implementing these assets in right direction that would bring improvement to the company. Thus these assets build one of the greatest advantages for the company. (Lamb et al. 2008; Levy and Weitz, 2001) Apart from all these, the vision and mission with which the company started its journey can be considered as one of the biggest competitive advantage fro McDonald’s. McDonald’s ability to sustain its dream over the years has provided it with a huge competitive advantage over its competitors. When a brand revolves around its vision in order to sustain and work in lieu with it, this results in developing significant sustainable competitive advantage for the brand. The McDonald’s started its business in order to help those people who did not have much time to cook or were too busy to go to an appropriate restaurant. The vision of McDonald’s was to offer quick service, and high quality food staffs at cheap rate. Over the years the company has been able to sustain this vision. Lamb et al. 2008; Levy and Weitz, 2001) Thus to sum it up it can be said that McDonald’s has been able to implement its best value based strategy by utilizing all its advantages which are unique to it and can not be copied by any of its competitors and thus it has build its competitive advantages which the company has been able to sustain over the years.

Euthanasia †Not Only at Patients Request :: Euthanasia Physician Assisted Suicide

Euthanasia – Not Only at Patient's Request      Ã‚   No indeed, euthanasia and assisted suicide would not only be at a patient's request. This false presumption has been disproven time and again by the practical working-out of euthanasia and assisted suicide in locales where it has been legalized. And yes, there are complications, which are not given great media exposure, but which appear in journals devoted to this debate. It is the intention of this essay to correct these false notions - with copious professional documentation.    As one of their major goals, euthanasia proponents seek to have euthanasia and assisted suicide considered "medical treatment." If one accepts the notion that euthanasia or assisted suicide is a good medical treatment, then it would not only be inappropriate, but discriminatory, to deny this good treatment to a person solely because that person is too young or mentally incapacitated to request it.    The way that the judicial process works in the United States is this: A surrogate's decision is often treated, for legal purposes, as if the patient had made it. That means that, if euthanasia is legal, a court challenge could result in a finding that a surrogate could make a request for death on behalf of a child or an adult who doesn't have decision-making capacity. Legally, this is the way the courts would handle it.    In the Netherlands, a 1990 government-sponsored survey found that .8% of all deaths in the Netherlands were euthanasia deaths that occurred without a request from the patient.(Medical) And in a 1995 study, Dutch doctors reported ending the lives of 948 patients without their request.(Hendin)    Suppose, however, that surrogates were not permitted to choose death for another and that doctors did not end patients' lives without their request. The fact still remains that subtle, even unintended, pressure would still be unavoidable. Such was the case with an elderly woman who died under Oregon's assisted suicide law: Kate Cheney, 85, reportedly had been suffering from early dementia. After she was diagnosed with cancer, her own physician declined to provide a lethal prescription for her. Counseling was sought to determine if she was capable of making health care decisions. A psychiatrist found that Mrs. Cheney was not eligible for assisted suicide since she was not explicitly pushing for it, her daughter seemed to be coaching her to do so, and she couldn't remember important names and details of even a recent hospital stay.

Short Notes

â€Å"Two gentlemen of Verona† & â€Å"An Irish Rose† are the two heart touching stories written by A. J. Cronin. In an Irish Rose, the 14 year old Rose plays the central character of the story. She sacrifices her life to look after her baby brother who lost his mother when he was just one month old. In the â€Å"Two gentlemen of Verona † we find the touching story of Jacopo & Nicola ,two brothers aged 12 & 13 who do odd jobs and live a hard life themselves to sustain and treat their elder sister Lucia who is suffering from tuberculosis of spine.Both stories of A J Cronin are heart touching. In an analysis of the characters portrayed in both the works we can find certain similarities. As stated above we can see the characters themselves in a moral and sacrificial light wherein they are not thinking or living for themselves but for their respective siblings. If we go into the actual character portrayal too, we can find how the characters are dressed in rags to sav e even the smallest penny for their siblings comfort.They do not even eat or dress well lest they have to spend any money, which can be found to have a better use for their siblings. In the Irish Rose as well as the Two Gentlemen of Verona, we find that the author finds hope for a better future of the world after meeting Rose, Jacopo and Nicolo. Never thinking for themselves, all three of his characters have fought to better the lives of their loved ones in every way possible. In both the stories the plot is set in a rousing manner and giving a detailed and graphic expression till the climax.In the Irish Rose, the main character Rose Donegan has to earn for the family, buy milk for her youngest brother Michel. She had to cook, attend to the children and father. With a slum child’s elemental knowledge she had to do everything, even she would bargain the baker to extend her credit for an extra loaf. As in the case of the Two Gentlemen OF Verona, the writer himself becomes a cha racter in the plot of Irish Rose. Along with the writer the rest of the characters too play a significant role in the plot to finally bring out the actual sacrifice of the three children.In both the stories the importance given to the children’s attitude towards work, love and responsibility shows how important the said characters are in the view of the author too. Herein we find the hope for a better world when these children grow up rather than the war ravaged time frame in which the stories are set. It was W. B. Yeats who said that, â€Å"Too long a sacrifice can make a stone of the heart†. But through these stories Cronin has endeavored to prove Yeats wrong, as nicely as possible. He was also able to teach us the value of not running away from our responsibilities.

Coca-Cola and Its Global Marketing Strategies

Coca-Cola is a company that is known worldwide for its product. It is a drink that spans all ages, colors, races, and countries. The Coca-Cola Company is the world’s leading manufacturer, marketer, and distributor of nonalcoholic beverage concentrates and syrups. The world’s headquarters are located in Atlanta, Georgia, with many other locations around the country. The Company and its subsidiaries employ nearly 31,000 people around the world.Syrups, concentrates and beverages bases for Coca-Cola, the company’s flagship brand, and over 230 other Company soft-drink brands are manufactured and sold by the Coca-Cola Company and its subsidiaries in nearly 200 countries around the world (Virginia, 1). The company has been around for over 100 years, and has used this time to perfect its marketing strategy. The success of the company was built on many people with the great business knowledge and know-how to take a simple drink, and make it into a symbol that represents h umanity.This paper will focus on not only the globalization of Coke, and Coke as a company, but also what advertising and media strategies have been used to help in the discourse of its globalization. Coca-Cola is an internationally recognized drink, popular in many countries throughout the world. The company that produces the soft drink has an interesting way of distributing it around the world, which many people may not realize. You don’t get exactly the same Coke in India that you do in the US, because bottling of the drink is franchised.What occurs is the following: the company produces a concentrate with the patented formula for Coca-Cola. This remains the same wherever you purchase the product. This concentrate is then sold to companies who have purchased franchises to bottle Coca-Cola in their area. Each bottling company adds water and whatever sweeteners are used for that specific type of coke. Slight variations may occur if the bottlers don’t conform to standa rds of production. For instance using less of the concentrate than is recommended, or changing the type of sweetener used.Though the formula for Coca-Cola concentrate doesn’t change, there can be slight differences in sweetness since bottling agencies may change the amount of sweeteners used to fit the local population’s palate, and some versions of the cola are said to be sweeter or sharper in other countries. The United States has seen, especially in countries close to Mexico, a rise in the amount of Mexican Coca-Cola imported into the US and sold at a number of Mexican and Latin or South American grocery stores. Cola aficionados say there are differences between south of the border and American produced versions of the drink.They cite the fact that most Mexican bottlers add cane sugar instead of corn syrup to the formula for Coca-Cola and many people prefer the Mexican version, though at first the taste can be a little unusual. Since the cost of importing sugar cane to the United States is expensive, bottlers import the drink from countries where it’s abundant or use substitutes like corn syrup which is subsidized by the government as well (Hays, 47). Thus the main difference is the way in which the formula for Coca-Cola has ingredients added to it from one country to another.The type of water used also may create a major difference in both taste and safety. Some countries, particularly emerging countries with high levels of pollution have been under investigation for producing Coca-Cola with alarmingly high levels of pesticides. In 2003, for instance, a government independent investigatory agency in India found that water filtration was not ridding the water of substances like DDT and Marathon (Allen, 182). Several soft drinks in India, including Pepsi, were found to have toxic and unsafe levels of these chemicals.This led to a decline in sales in Coca-Cola that lasted for several years, and an outright ban on selling Coke in certain p arts of India for a short while. Technically water filtration should eliminate most of these chemicals, but the presence of higher amounts of the chemicals in certain areas may mean filtration methods aren’t adequate to the task. Coca-Cola has defended their product and claims they test all their soft drinks, wherever produced, to make sure they meet safety standards (Coca-Cola, 1).They also stand by the formula for Coca-Cola though they do recognized small differences in taste when it is bottled outside of the US. Although the taste differences are often involuntary, in many cases the taste differences between countries and regions have helped locals adopt the Coca-Cola flavors. As a result, Coca-Cola can capitalize on its growth and spread its product base even further. In order to appeal to countries that did not adopt the standardized Coca-Cola Flavors, the company decided to expand its product lines in order to appeal to foreign countries that did not have the same taste characteristics as the United States.In order to do this it developed new flavors of water, teas, juices, sports drinks and energy drinks to appeal to a larger number of people. In some cases they acquired existing companies that already had a loyal customer base and even developed some of its own products by tweaking existing recipes or creating new drinks all together. For example, in Asia soy drinks are much popular than carbonated beverages. To combat this Coca-Cola also offers its own soy beverage in the regions where as in the United States it’s very rare to see soy drinks produced by Coca-Cola (McKay, 22).This adaptation strategy has allowed greater flexibility to consumer’s tastes and growth in the company’s market share of the non-alcoholic beverage industry. Coca-Cola places its product globally depending on several conditions. The first level that needs to be examined is the macro level including Coca-Cola’s choice of continents, countries and geographic regions. Population and the proximity of natural resources to that population are the first things that Coca-Cola considers when entering new territories.If the region does not have a large enough population to purchase enough of their beverages they will focus more on regions that do. Also, if it is not efficient or cost effective to produce drinks within the country or region the company either looks elsewhere to bottle its beverages, imports its products or moves refrains from focusing on this region all together. In countries that do not have abundant resources such as sugar cane and corn syrup, it increases the cost to produce the beverage because supplies must be imported (.The Coca-Cola Company will also consider the proximity of bottling plants to the region its promoting its products to. Either the company will purchase or build a plant to cut down on costs or contract with local bottlers to sell its product to. In some cases Coca-Cola may have even establish it self in neighboring countries because it may already inhabit locations with similar cultures and preferences. Within these regions that Coca-Cola decides to inhabit, it also must choose an area that their products have the best chance of reaching the consumer.The Coca-Cola Company sells its products to bottling and canning operations, distributors, fountain wholesalers and some fountain retailers. These then distributes them to retail outlets, milk bar and corner stores, restaurants, petrol stations and newsagents. The Coca-Cola Company uses the intensive distribution strategy. The business's products are sold in almost every outlet including small shops, restaurants gas stations, schools, sports venues and vending machines. Depending on the level of popularity and extensiveness, Coca-Cola will choose areas that will have the best opportunity to sell.With these sales comes increased customer awareness and brand loyalty. The final thing that Coca-Cola must do is recognize local laws and regulations. Coca-Cola adopts a standardized practice for areas that are similar which makes it easier for Coca-Cola to distribute and sell its products (Allen, 82). In some foreign countries however, many of the taste preferences are determined by local laws, ancient religions or the countries culture. When these characteristics differ from the standard Coca-Cola model, the company adapts its products are marketing strategies to adhere to regulations and cultural norms.Coca-Cola decides if it’s then cost effective and possible to enter the market without significant barriers or alterations to its brands flavors. If the barriers are too large, the company is likely to pursue other locations. The company's beverages are generally for all consumers. However, there are some brands, which target specific consumers. For example, Coca-Cola's diet soft drinks are targeted at consumers who are older in age, between the years of 25 and 39. PowerAde sports water targets those who a re fit, healthy and participate in athletics.The Winnie the Pooh sipper cap Juice Drink targets children between the ages 5-12. This type of market approach refers to market segmentation. The Coca-Cola Company when advertising has a primary target market of those who are 13-24, and a secondary market of 10-39 (Coca-Cola, 3). In order for these beverages to reach the target markets, Coca-Cola needs to use a medium that will best reach these consumers. If advertisements are not reaching the right age group or in the tight places, sales will drop and the brand image will be damaged.For example, when advertising Diet Coke, Coca-Cola primarily advertises with in-print ads, billboards, fast food restaurants and the radio. They understand that this age group is likely to have children and spend a lot of their time driving, feeding their children and spending time at home (GSCE, 1). By using these methods they increase the chance of being exposed and having their products used. In order to reach the young adults and teens they use the internet, television and popular events such as concerts and sporting events to advertise their products.Coca Cola has researched and found that the majority of time teens spend is online or spent watching their favorite television programs. Unlike the older generations, younger generations are more likely to be electronic savvy and read less of in print advertisements. Internationally, Coca-Cola has adopted a global strategy that includes sponsoring professional sports leagues, music artists or groups and the Olympics. For example the company advertises with the NBA, World Cup Tournaments, the NCAA and popular music groups such as Maroon 5 (McKay, 13).Coca-Cola pays several million dollars in order to have the exclusive rights to advertise or partner with these events. Although it an expensive way to advertise, its benefits extend far past the cost of advertising. Millions of viewers worldwide tune into or watch these events and the bra nd exposure is enormous. Viewers are exposed to the brand and the Coca-Cola brand becomes synonymous with that popular athlete, league or artist. By paying these popular athletes and stars to endorse their products, they influence millions to buy or try the Coca-Cola brand.From there it’s up to Coca-Cola to keep the consumers to continue to use its products. In conjunction with their advertising strategy, Coca-Cola also uses specific promotions and strategies in order to gain sales. Internationally, many of these methods are similar to those found in the United States. Whether it’s to gain a first time customer, getting them to switch from other brands or keep them loyal to Coca-Cola, the company uses strategic self-selection. They purchase shelves in big departmental stores and display their products on shelves in an attractive style.Most times Coca-Cola pays more to have their products on shelves that are easier to reach and are more likely to be seen than the shelve s that other companies use. Coca-Cola is one of the leading companies to take advantage of end caps and special racks that they give to outlets to promote specific products. Often time’s salesman of the coca cola company positions their freezers and their products in eye-catching positions. Normally they keep their freezers near the entrance of the stores or in high traveled areas.The company recently introduced a revolutionary electronic vending machine that has hundreds of Coke flavors on hand that even can be mixed from one single machine. The machine is called the â€Å"Freestyle† and offers a totally new and innovative approach to the standard vending machines (Coca-Cola, 1). The company also does sponsorships with different college and school's cafes and sponsors their sports events and other extra curriculum activities for increasing market share among younger demographics. The majority of the Coca-Cola Company's products are sold in retail stores, convenient st ores, petrol stations etc.Although the pricing methods/strategies are set by those the company sells to, it does suggest specific guidelines and have some restrictions on pricing and trade. For example gas stations and convenient stores usually sell Coca-Cola products at a fixed price, where restaurants have more freedom on what they can charge. In a majority of places competition-based pricing is used. Coca-Cola products are usually priced below, above or equal to its competitors' prices. For example, during Easter (2010) sale periods the average price for a 2 liter Coca-Cola was 1. 7 and a 2 liter Pepsi bottle sold for 1. 83 on average (Virginia, 3). In order to generate more sales and clear additional product, Coca-Cola also adopts a discount price strategy. Coca-Cola products are often marked down during sale periods and special occasions. For example Coca-Cola often will send out coupons for an amount to be taken off the cost of a specific product or allow the markdown below MA P pricing to make room for new sales or products. One of the most obvious pricing strategies Coca-Cola uses is psychological pricing.Often times there advertised prices end in seven or five, which is below other competitors such as Pepsi. The Coca-Cola Company also gives trade incentives to its retailers to generate more revenue. For example, the company will send free samples and product to have events which allow consumers to try a product for nothing. As a result of this by this these retailers and middle man push their product in the market following â€Å"Seen as sold†. Lastly, the Coca Cola Company changes their product prices according to the season. For example, summer is supposed to be a good season for beverage industry in Pakistan (Hays, 96).So in winter they reduce their prices to maintain their sales and profit In essence, the examples above reveal that global marketing is not necessarily an all or nothing proposition. The Coca-Cola Company has the freedom to cho ose from many possibilities on the spectrum from total standardization through to complete customization. Clearly there are circumstances where they can gain competitive advantage through increased standardization of products and marketing, especially with respect to keeping costs down and building brand power.On the other hand, in conditions where national market differences are more marked, this strategy would harm the company and its reputation. By making standardization decisions using target market conditions as its starting point, the company insures that in the long-term customers are being offered what they want. Although Coca-Cola can seemingly gain a great deal from a standardized agenda, its decision to combine global and local resources is ultimately more long-standing in a market where national customer differences are influential.Coupled with strategic pricing and being a low cost leader, the Coca-Cola Company has enjoyed over a hundred years of success which continues to grow every day. The company uses its branding power and size to promote its products even further, which influences even more consumers to try the brand or switch from previous used brands. Regardless, Coca-Cola has been extremely successful in their international marketing mix and continues to dominate global beverage sales.

Battle at Canossa essays

Battle at Canossa essays At the meeting in Canossa between Henry IV and Gregory VII, it may appear that Gregory had been victorious. He showed his power over the king by excommunicating him and denying him his throne until he gave penance. But, in actuality, Henry was the victor. By saying he was sorry for his sins by the doing of his penance, the pope had no other choice than to accept Henry back to the church and back to his throne. If a sinner comes to the pope and asks for forgiveness, the pope is obligated by his spiritual duties to forgive him. Gregory did not want to accept Henry back on his own will, but rather the will of God and of the people. The popes power over the king was limited. The showdown at Canossa was not the end of the confrontations between Gregory and Henry. Germany and Italy were at battle between each other and Germany had elected their own king, Rudolph of Swabia, the anti-king. Gregory VII had again tried to excommunicate Henry IV, but at this time he had no power over the king for the people had turned against the pope. The bishops had elected another pope, the anti-pope. Cruel and atrocious civil war continued. Henry and Rudolph battled against each other and Rudolph was killed. After the death of Rudolph, Henry went to Rome and conquered it. He also installed an anti-pope who crowned Henry emperor. In return, Gregory called for help to the Normans in northern Italy. They agreed to help and kicked Henry out of Rome. The Normans were angered that Rome surrendered to the popes enemies so they committed several brutal crimes against the Romans. The Romans blamed these acts of brutality on Gregory and consequently he traveled back to northern Ita ly with the Normans to seek refuge. The struggle of lay investiture was still not over. A compromise could not be reached until 1122 AD. This agreement was the Concordat of Worms. Popes were now in charge of investing the bishops with the symbols of spiritual office. The e...

Go Ahead, Put that Preposition at the End!

Go Ahead, Put that Preposition at the End! Go Ahead, Put that Preposition at the End! Go Ahead, Put that Preposition at the End! By Maeve Maddox Commenting on one of my posts about prepositions, Annette writes: When did the rule about ending the sentence with a preposition change? Its always been one of my pet peeves (in written word more than spoken) because we learned it was wrong in high school grammar. but now Im reading that its acceptable? Could all our English teachers have been wrong? No grammarian can be more cantankerous than H.W. Fowler (A Dictionary of Modern English Usage), but here is what he says about prepositions at the end of a sentence: It is a cherished superstition that prepositions must, in spite of the incurable English instinct for putting them latebe kept true to their name and placed before the word they govern. He says Dryden, Gibbon, and Ruskin spread the notion that English sentences must never end with a preposition. Dryden was so steeped in a classical education that he sometimes translated his sentences into Latin before writing them down in English. Gibbon was so determined not to end a sentence with a preposition that he avoided ending them with adverbs that looked like prepositions. For example, words like on, over, off, and under may be either prepositions or adverbs, depending on their function in the sentence, He ran after the wagon and jumped on. on is an adverb telling where He left on the horse he rode in on. on is possibly a preposition, but would the sentence be improved by writing He left on the horse on which he rode in? We still have a word that looks like a preposition ending the sentence. Would it really improve an idiomatic sentence like What did you do that for? to rewrite it as For what did you do that? Weve all heard how Churchill rebuked the secretary who revised the great mans sentences to avoid ending them with prepositions: This is the kind of arrant pedantry up with which I will not put. The sentence is funny and succeeds in poking fun at the over-venerated rule, but the expression put up with is a phrasal verb that means endure or suffer. Idiomatic English makes use of many such verb phrases: ask out George wants to ask Mary out. add up These figures just dont add up. As writers we need to be aware of the rules of our medium and strive not to write anything barbaric, i.e., unidiomatic. We need to be alert to differences between formal and informal expression, but whether we are writing a scientific treatise or an irreverent novel, we need to stay true to our instinctive grasp of our native language. Ill give Fowler the last word: Those who lay down the universal principle that final prepositions are inelegant are unconsciously trying to deprive the English language of a valuable idiomatic resource, which has been used freely by all our greatest writers except those whose instinct for English idiom has been overpowered by notions of correctness derived from Latin standards. The legitimacy of the prepositional ending in literary English must be uncompromisingly maintained; in respect of elegance or inelegance, every example must be judged not by any arbitrary rule, but on its own merits, according to the impression it makes on the feeling of educated English readers. For a useful list of phrasal verbs, visit Daves ESL Cafe. See Churchill on Prepositions for a discussion of the Churchill anecdote. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:Fly, Flew, (has) FlownFlied?Difference between "Pressing" and "Ironing"Narrative, Plot, and Story

Chinese Birthday Customs of for Elderly People

Chinese Birthday Customs of for Elderly People Traditionally, Chinese people do not pay a lot of attention to birthdays until they are 60 years old. The 60th birthday is regarded as a very important point of life and there is often a big celebration. After that, a birthday celebration is held every ten years; on the 70th, 80th, etc, until the persons death. Generally, the older the person is, the greater the celebration occasion is. Counting the Years The traditional Chinese way to count age is different from the Western way. In China, people take the first day of the Chinese New Year in the lunar calendar as the starting point of a new age. No matter in which month a child is born, he is one year old, and one more year is added to his age as soon as he enters the New Year. So what may puzzle a Westerner is that a child is two years old when he is actually two days or two hours old. This is possible when the child is born on the last day or hour of the past year. Celebrating an Elderly Family Member It is often the grown-up sons and daughters who celebrate their elderly parents birthdays. This  shows their respect and expresses their thanks for what their parents have done for them. According to the traditional customs, the parents are offered foods with happy symbolic implications. On the birthday morning, the father or mother will eat a bowl of long long-life noodles. In China, long noodles symbolize a long life. Eggs are also among the best choices of food taken on a special occasion. To make the occasion grand, other relatives and friends are invited to the celebration. In Chinese culture, 60 years makes a cycle of life and 61 is regarded as the beginning of a new life cycle. When one is 60 years old, he is expected to have a big family filled with children and grandchildren. It is an age to be proud of and celebrated. Traditional Birthday Foods Regardless of the celebrations scale, peaches and noodlesboth signs of long lifeare required. Interestingly, the peaches are not real, they are actually steamed wheaten food with a sweet filling. They are called peaches because they are made in the shape of peaches. When the noodles are cooked, they should not be cut short, as shortened noodles can have a bad implication. Everyone at the celebration eats the two foods to extend their best wishes to the long-life star. The typical birthday presents are usually two or four eggs, long noodles, artificial peaches, tonics, wine and money in red paper.

Different types of advertising Assignment Example | Topics and Well Written Essays - 500 words

Different types of advertising - Assignment Example This "Different Types of Advertising" essay outlines seven various types of ad, their functions and attributes. Institutional advertising focuses on projecting ideas, benefits, as well as, philosophies of a particular business. Fundamentally, the promotional messages aim at building a positive image, enhancing a reputation, and creating goodwill as opposed to promoting sales (Shah & D'Souza, 2009). In essence, the organizations employ institutional advertising as a marketing strategy. Notably, institutional or corporate advertising tends to create positive public relations. Non-profit advertising entails reaching customers to participate in certain programs. Non-profit organizations such as associations, foundations, museums, charities, and hospitals solicit for financial assistance and membership through this type of advertising (Moriarty, Mitchell, & Wells, 2011). Primarily, non-profit advertising entails creation of slogans and logos, as well as, development of campaigns through t he media to popularize the organizations to the public. Public service advertising targets the general population. The design of the advertisement is to educate and inform the public rather than promoting or selling products and services. It is noteworthy that the seven types of advertising differ markedly. Notably, each type of advertising seeks to attain a certain goal. Brand advertising aims at increasing consumer base and sales through creating a brand image and identity in the minds of the public.

Ip5 program capstone Research Paper Example | Topics and Well Written Essays - 250 words

Ip5 program capstone - Research Paper Example At the GreenHall hotel, promotions are given to the employees by merit. This means that those who have shown exemplary performance in their work are promoted. However, at the BlueShield hotel, employees are promoted whenever they get an additional academic qualification. BlueShield places a lot of importance to the academic qualifications while GreenHall places emphasis on the experiences that the employee has had in the company. Communication at GreenHall is not limited and employees can pass information freely. This means that all the employees can interact and pass information freely regardless of their position in the company. This helps the employees feel free to talk to the top officials whenever they are experiencing problems in the company (Bach, 2013). BlueShield Hotel, on the other hand, communicates strictly in a top-down direction. Both hotels use the SWOT tool to improve the operations of their hotels. They both make use of their individual strengths, recognize their weaknesses and try to improve them, realize the existing opportunities and utilize them. They also identify their strengths and makes use of them. A change in the external environment is likely to affect both companies in the same way. For instance, if there are terrorists’ threats in the area, then the hotels are likely to experience a low season (Burt, 2005). They may need to even close their businesses for a while. Terrorists’ threats are very harmful to the hospitality industry. In conclusion, both the GreenHall and BlueShield hotels operate and function in different ways to accomplish the same goals of getting more clients and thus more profits. The aim of any company is to make profits, and each company has their way of attaining their projected profits (Bou,

The effect of liberation on economic growth of China Essay

The effect of liberation on economic growth of China - Essay Example After setting up of WTO with an aim to enhance international trade to a large extent by demolishing all kinds of trade barriers imposed by individual countries, the member states of WTO has been making extensive efforts to liberalize their trade with each other and with other countries as well. China is not an exception. In the china, efforts to liberalise trade by reducing different trade barriers have been started to be undertaken since the initiation of economic reform in this country during the decade of 1970s. Theory suggests a close link between foreign trade and economic growth. There have been a large number of theoretical and empirical works, which have tried to examine the link between international trade and economic growth. While a number of studies have found a positive association between enhanced international trade and economic growth, a large number of studies have also refuted the claim on the basis of their research that international trade facilitates economic growth. (Edwards, 1993) In the present study the case of China will be taken under consideration, as china has become one of the most powerful and rapidly growing economies in the present world. It would be very interesting to see how trade liberalization has affected economic growth in China. For this the period of 1970-2007 will be taken under consideration, as it was only in the decade of 1970’s (late 1970’s) when China put emphasis on the issue of trade liberalization as one of its economic reform policies. However, in this context, one thing should be mentioned that trade liberalization got a huge boost in China during 1990s as it was making its path easy to became a member of WTO during this period. Trade liberalization basically implies reduction in the tariff rates and removal of non-tariff barriers. Since late 1970s china has started to undertake several measures of trade liberalization to increase its foreign trade. This paper will

Ending the Federal Reserve Essay Example | Topics and Well Written Essays - 2250 words

Ending the Federal Reserve - Essay Example The principal way that the Fed manages the economy and financial crises is to manipulate the money supply. The Fed does its work by adjusting three things: the reserve requirement, the discount/federal funds rates, and open market operations. There are a number of positive outcomes that can result if the Fed was abolished. One positive outcome is the end of the yo-yo monetary policies that leads the country to move from recessionary to inflationary periods. A second positive outcome is greater competition and safer investment among financial institutions. There are negative outcomes to ending the Federal Reserve. The principal negative outcome is that the business cycle will run unchecked. Financial crises will tear the nation apart even more than already do. The United States has wrestled with the idea of centralized banking since its birth. After suffering through serious financial crises in the 1880s and early 1900s, the United States settled on the Federal Reserve system. The country embraced central banks twice before creating the Fed. The country created the First Bank of the United States in 1791 and then let the charter lapse in 1811. Congress created the Second Bank of the United States in 1816 and then let that charter lapse in 1828 (The Federal Reserve, 2010). Both banks failed because they were seen as answering to big city money interests and not the ordinary agrarian citizen. (The Federal Reserve, 2010). Today the Fed is also associated by some with big financial conglomerates. The United States created the Fed after enduring a series of financial crises. Several banking panics rocked the country in the late 1800s and early 1900s. The United States took action after the panic of 1907. In that year, the nation faced a dire banking crisis caused by speculation. Private industry, led by J.P. Morgan, had to step in to save the economy. The government created an independent government body, the Fed, in

CASE STUDY Example | Topics and Well Written Essays - 250 words - 6

Case Study Example When the respondents were given beer without the labels, they were unable to discern their favorite label from the 6 provided. This shows that most consumers do not have a preference for a particular taste of beer. Rather, their preference was biased towards the label rather than the taste. This shows that people make beer buying decisions based on labels rather than taste. Native Advertising is becoming increasingly popular in todays world. In this form of advertising, the advertiser depends on the internet where the ad is placed in the context considering in mind the users experience. An example of this is Pinterest where the advertiser places the ad as a pin rather than the traditional advertisement. Ads as pins are content placed in the context of the users experience. Such form of advertising are more likely to get the attention of the users because most users zone out the traditional forms of advertising but are unable to differentiate advertising from the usual pins. This then increases the impact of the advertising. This form of advertising also generates word of mouth through sharing of the advertisements. Pins are more likely to be shared by users as compared to normal

Ending the Federal Reserve Essay Example | Topics and Well Written Essays - 2250 words

Ending the Federal Reserve - Essay Example The principal way that the Fed manages the economy and financial crises is to manipulate the money supply. The Fed does its work by adjusting three things: the reserve requirement, the discount/federal funds rates, and open market operations. There are a number of positive outcomes that can result if the Fed was abolished. One positive outcome is the end of the yo-yo monetary policies that leads the country to move from recessionary to inflationary periods. A second positive outcome is greater competition and safer investment among financial institutions. There are negative outcomes to ending the Federal Reserve. The principal negative outcome is that the business cycle will run unchecked. Financial crises will tear the nation apart even more than already do. The United States has wrestled with the idea of centralized banking since its birth. After suffering through serious financial crises in the 1880s and early 1900s, the United States settled on the Federal Reserve system. The country embraced central banks twice before creating the Fed. The country created the First Bank of the United States in 1791 and then let the charter lapse in 1811. Congress created the Second Bank of the United States in 1816 and then let that charter lapse in 1828 (The Federal Reserve, 2010). Both banks failed because they were seen as answering to big city money interests and not the ordinary agrarian citizen. (The Federal Reserve, 2010). Today the Fed is also associated by some with big financial conglomerates. The United States created the Fed after enduring a series of financial crises. Several banking panics rocked the country in the late 1800s and early 1900s. The United States took action after the panic of 1907. In that year, the nation faced a dire banking crisis caused by speculation. Private industry, led by J.P. Morgan, had to step in to save the economy. The government created an independent government body, the Fed, in

Module 7 Essay Example | Topics and Well Written Essays - 750 words - 3

Module 7 - Essay Example The merger is an investment made by Alaska since it acquires another company, Estoya. Therefore, taking Estoya as an asset, the return on investment (ROI) based on the proposed purchase price (1 billion) and the annual cash flows (500million) would be (500,000,000/ 1,000,000,000) = 50% (Braff, 2013). The merger situation involves a required rate of return by the investors and a prospective growth in the future cash flows generated by the targeted company (Estoya Inc.). The information on cash flow, growth rate and the required rate of return is to be used to determine the market value of the targeted firm. Thereafter, it will be simple to decide whether the suggested purchase price of 1 billion new sols is higher or lower than the estimated market value of the targeted firm. The targeted company’s EBIT multiple is determined by dividing the purchase price by the annual cash inflows (1,000,000,000/500,000,000) = 2. The determined multiple (2), is interpreted to mean that Alaska Corporation should pay 2 new sol per 1 new sol of the Estoya’s cash flow. As a result, Alaska corporation should pay a total of (2*500,000,000) = 1,000,000,000 new sol. Since the targeted company’s rate of return is above Alaska’s required rate of return, the merger should be se ttled at 1 billion new sols. That is, Alaska Inc. should pay 1 billion new sols for Estoya Corporation. Based on the estimated value of the targeted company, the maximum price to be paid by Alaska Inc. should be 1 billion new sol (University of Virginia, n.d.). The cash flow generated from the investment is 7 million Yuan annually. The two mentioned country risks, influences the project as follows: the 30% chance that the Chinese government will require the cash flows earned by Kansas Company at the end of one year be reinvested in China for one year before it can be remitted influences the cash flow considered for the

Transnational Strategy Essay Example for Free

Transnational Strategy Essay This paper is about transnational strategy used by transnational companies in developing their business. The strategy will be shown on the specific example of globalizing an Australian wine company BRL Hardy. But first it worth determining transnational strategy as it is. During recent years much have changed in the world business economy, and most big companies started orienting towards globalization of their business. And host countries in their turn were first suspicious to such organizations and made a lot of restrictions for providing their business on the territory of the host country. There are ‘positive contributions that TNCs (transnational corporations) make to host states and encourages this trend, as well as the tensions that have existed between TNCs and host states and endeavors to provide legal responses that take into account the legitimate interests of these two main actors.’ (Ebow Bondzi-Simpson 1990, p. xiii). The main demand was to be responsive to local market and political needs of the country. ‘As a result of these developments, many worldwide companies recognized that the demands to be responsive to local market and political needs and the pressures to develop global-scale competitive efficiency were simultaneous, if sometimes conflicting. Under these conditions, the either/or attitude reflected in both the multinational and the global strategic mentalities were increasingly inappropriate. The emerging requirement was for companies to become more responsive to local needs while retaining their global efficiency—an emerging approach to worldwide management that we call the transnational strategic mentality.’(Bartlett 2004, p. 12). As for the way of management in such companies their key activities and resources are dispersed and specialized to reach competence and flexibility at the same time. Moreover, these dispersed resources are included into an interdependent network of worldwide operations. So, as we see ‘key activities and resources are neither centralized in the parent company, nor decentralized so that each subsidiary can carry out its own tasks on a local-for-local basis.’ (Bartlett 2004, p. 12). The main aim of all companies working on transnational level is to achieve the global leadership in the sphere of its business. And one of the qualities of such leadership is openness to new ideas that is most clearly and forcibly. Globalisation has given most organisations an international dimension. Concerning transnational network it is determined to be three-dimensional: supports a hybrid strategy of both product and market development across national borders; firm seeks both global efficiency and local responsiveness; excellent communications help managers to share vision and support learning. (Harrison 2003, p. 315). Governments of many countries support the idea of transnational companies and develop the appropriate documents, which sometimes appear to be a bit controversial. ‘The European Commission’s 1993 White Paper on Growth, Competitiveness and Employment, together with the 1994 White Paper on Social Policy (and the subsequent Medium Term Action Programme) have assigned a greater role and responsibility to the social partners at European level: this may generate more intensive transnational cooperation—but possibly also greater conflict.’ (Lecher 1998 p. xiii). So, let us speak about the example mentioned above to explain the strategy used in the company. First, we compare and contrast the influence of changes in internal management perspectives and the international business environment upon the strategic development of BRL Hardy in the 1990s. Applying to the history we may say that vines were first introduced into Australia in 1788 by Captain Arthur Phillip, who was the leader of the group of convicts and settlers, comprised the first fleet of migrants to inhabit the new British colony. During next two centuries wine became very popular and by 1996 there were two greatest companies involved in this business. First one was Southcorp and ‘the number two company was BRL Hardy Ltd. (BRLH), selling under the Hardy, Houghton, Leasingham, and other labels.’ (Bartlett 2004, p. 679). Earlier Hardy and BRL were different companies. But due to recession-driven market slowdown at home and problems in three of the European acquisitions in Hardy as well as struggle and search for ways to expand and upgrade its business in BRL led for the merge of these two companies in June 1992. Certain changes in the international business environment influenced the strategy development of the BRLH Company: A rationalization and consolidation among wine wholesalers and retailers. Exploiting modern viticulture and more scientific winemaking practices to produce more consistent high-quality wine by wine suppliers from New World. The first priority for the company after merging was the financial situation and domestic market as ‘both companies performed poorly the previous year†¦and the Australian market accounted for the vast bulk of their profit†¦Ã¢â‚¬â„¢ (Bartlett 2004, p. 681). The emerged strategy was that the company would protect its share of the bulk cask business but concentrate on branded bottle sales for growth. This required a commitment to quality. To implement this strategy there was the need to change the company’s culture and management style, in other words to create a more decentralized approach, but to hold management accountable. ‘The results were impressive with both domestic bottle market share and profitability increasing significantly in the first two tears of BRLH’s operation.’ (Bartlett 2004, 682). As to the international experience, the company understood that ‘globalization of competition is triggered both by the emergence of Triad industrialized markets with relatively homogeneous demands, comprising the United States, the European Community, and Japan.’ (Ohmae 1985). Thus the key export markets were the United Kingdom, the United States, Germany, and Japan. To expand on its U.K. sale Hardy believed it should stop relying on importers, distributors, and agents. This led management to the decision of buying European wineries to give Hardy’s wines greater access to Europe. But unfortunately, such decision and the appeared problems had negative impact on the company and led it to the merge as was mentioned above. New management began to realize the situation and work out possible strategies to improve the company’s presentation on the foreign market. For that moment ‘a U.K. business selling a small volume of Hardy wines and just breaking even, a rapidly eroding BRL bulk business in Sweden, a weak Hardy-U.S. presence supported by a single representative, and a virtually nonexistent presence in Asia or the rest of Europe.’ (Bartlett 2004, p. 682). Realizing such situation the strategy was based on the strong quality brand image with the company’s marketing slogan ‘Quality Wines for the World’. As the implementation of such a strategy a group marketing and export manager Stephen Davies initiated a programme to rationalize the line and reposition a few key brands in a stepstair hierarchy from simple entry level products to fine wines for connoisseurs. In U.K. the company recently acquired two distributors, but their financial situation was disastrous. So the managing director Carson reported such a situation to the Australian management and proposed a series of cost-cutting steps, installed strong systems, controls, and policies that put him firmly in charge of key decisions. As the result in 1992 the company promised to be profitable on the European market again. Despite improving results in the same year the company was facing several key problems: the need to build quickly on the 178,000 cases of Hardy-brand products that has represented less than a quarter of his total volume in 1991; the need to restore the financial health of its French winemaker, Domaine de la Baume; the need to protect an unstable imported Chilean product that had come as a Whiclar and Gordon agency. Though the headquarters understood the significance of the appeared problems the relationship was an uneasy one as they supported delegation only to those who ‘earned their stripes’. The next difficulty was weather the BRL management understood international marketing. To expand the sales in Europe Carson clearly understood the need to relabel, reposition, and relaunch the brands as current image had eroded in the U.K., but the Australian office did not want to hear of it. In the long run they agreed to such an offer and in 1993 they relabled and relaunched Nottage Hill and repositioned Stamps. In this case the initial negative attitude towards relabling the product brought only delay in expanding sales in the Europe. Fortunately, the changes were made and the company quadrupled the volume of Hardy’s brand from 1992 by 1994. By the mid-1990s the headquarters began to imagine the company not just as a ‘quality exporter’ but as an ‘international wine company’. Though the international environment hardly believed in the possibility of wine to become global brand, the company management believed that ‘changes in wine-making, the opening of global markets, and the changing consumer profile would all support their objective to become a truly international wine company built on a global branding capability.’ (Bartlett 2004, 687). This was the right choice though difficult because it is clearly stated ‘in response to global competition, successful companies are evolving from a product policy of offering customized products to that of offering globally standardized ones.’ (Kotabe 1992). In this case the company strategy was built on decentralization and wish to listen to and to support overseas ideas and proposals, but the role of headquarters should be as brand owners. And it is clear that ‘global companies conduct research wherever necessary, develop products in several countries, promote key executives regardless of nationality, and even have shareholders on three continents.’ (Eom 1994 p. 1). 2.In 1995-1998 managing director Christopher Carson developed certain strategy to build and sustain BRL Hardy’s competitive advantage in the UK wine market as in 1995 he was appointed chief executive of BRL Hardy Europe. We shall try to identify his approach and discuss its likely advantages and disadvantages. Carson had focused most of his attention on building sales of the Hardy brand wines but remained acutely aware of the importance of the other non-Australian product lines. It is obvious that quality of grapes as an agricultural product depends upon weather, disease and other factors. Carson proposed that one way to minimize that risk was the sourcing from multiple regions. Moreover, major retailers wanted to simplify wine buying dealing with a few key suppliers providing a broad line of quality products. For all these reasons Carson began to concentrate much of his attention on two non-Australian wine sources: Jose Canopa y CIA Limitada (Chile, Mapocho brand) and Casa Vinicola Calatrasi (Siciliy, D’istinto brand). These two projects were based on partnership relations and were a kind of transnational relations. ‘Transnational relations are understood as regular interactions across national borders in which either the administration itself or the actors with whom the administration maintains contacts act without a specific and clear national mandate when participating in negotiations and decision-making processes.’ (Jacobsson 2003). In both projects Carson offered the grape growers to send the winemaking specialist to enhance the value of their harvest through more productive vineyard techniques and new winemaking methods. Moreover branding could give the producers security of demand and eventually better prices for their fruit. The approach he used to develop his strategy was customer-focused,   a shareholder value approach as he saw the company as the private property of it s owners, linked to the concept of competitive advantage offering high-quality wines produced with the help of new technologies of winemaking. The advantageous goal of these projects was to offset projected Australian red wine shortages with alternative sources and to develop a brand responding to the average wine consumer interested in wine but not necessarily very knowledgeable about it. The new product was to give easy-to read labels with a pronounceable brand name. D’istinto line ‘can help us build BRLH Europe in size, impact, and reputation,’ said Carson. ‘We need to become known as a first-class branding company – a company able to leverage great distribution and strong marketing into recognized consumer brands.’ (Bartlett 2004, p. 690). As for disadvantages of Carson’s strategy, the Mapocho project was disappointing. The first samples were bad and the reason was controversial from both sides: ‘The Chileans thought the problem was due to the winemaker sent from BRL Hardy being unfamiliar with Chilean wine, while he insisted they had not provided him with quality fruit.’ (Bartlett 2004, p. 690). Canepa managers claimed the costs went up, and wanted to change the supply price, and then the new venture lost opportunity to get early access to the pick of the 1997 grape harvest. All this led to low sales contrary to expected (15,000 cases against 80,000 planned). As to the D’istinto, initialy it was planned to fill the price points that had been vacated as Stamps and Nottage Hill had become more expensive. But for the moment of discussion the Sicilian line clearly overlapped with Hardy’s core offerings. Nevertheless, D’istinto sales rose from 16,000 to 500,000 by year four and could have global potential. But despite such success and relatively small investment in the branding, packaging and launch expenses, the real financial risk could come later in the form of contract commitments and excess inventory because of continued difficulty with Mapocho sales. As a result the chosen strategy led to the brand fighting. The next step within the company was the strategic decision to promote Banrock Station as a global brand. As the Stamps and Nottage Hill brands became more expensive, Carson believed there was an opening for a new low-end Australian brand to fill the vacant price position, representing more than 80% of sales volume. The person in charge for this question was Paul Browne. He felt the market was ready for a brand which would appeal to a younger consumer gradually coming to buy Stamps and Nottage Hill later. ‘The brand he came up with was Kelly’s Revenge.’ (Bartlett 2004, p. 692). Meanwhile, in Australia, BRLH was developing a major new product targeted at a similar price point. The name of the new brand positioned as an environmentally responsible product and launched in Australia in 1996 came from the place named Banrock Station (a 1,800-hectare cattle grazing property partially converting by the company to viticulture) and acquired by the company in 1995. ‘Good Earth, Fine Wine’ was the motto of the brand. ‘The nomination process for the Banrock Station Wetland Complex was initiated by the sites owner, BRL Hardy Wine Company. Extensive consultation on the nomination was undertaken and coordinated by the South Australian Department for Environment and Heritage.’ (Wetlands Australia 2003). After the increasing success in Australia, convinced in its potential as a global brand, headquarters management decided to promote Banrock Station as a global brand in the countries of this company’s presence. In Canada and the U.S. there were no significant difficulties of implementing such a decision, but in Europe the management team expressed serious doubts as they already finished the Kelly’s Revenge project. In this particular question headquarters and European management appeared to be arguing parties. As Australians blocked Kelly’s Revenge and Europeans tried to block Banrock Station because they were projects worked out in these two organizations to satisfy the customer. But, Banrock Station was more successive in the market and Kelly’s Revenge was examined by the customers’ reaction, as the result ‘when we took it to ASDA, the UK grocery chain, they were not enthralled. ’(Bartlett 2004, p. 694). So this was the opportunity to give Banrock Station a try in European market. If determining this process deliberate or emergent we should say that to much more extent it was deliberate because the trial to launch D’istinto on a low price level was a failure and Banrock Station brand appeared to be much more successive on this level because of its devoutness to nature. Initially the program aimed ‘to restore the natural elements such as soil, water, natural vegetation and animals as they existed at Banrock Station over 200 years ago.’ (Banrock Station – Environmental). For this purpose the company bought the property in South Australia’s Riverland district. The deliberateness of the promoting process underlines one more fact that ‘during the planning and development phase, visitors’ universally positive reaction to BRLH’s ongoing conservation efforts – planting only 400 hectares while returning the remaining land to its native state including the restoration of natural wetlands – convinced management that the property had brand potential.’ (Bartlett 2004, p. 693). Emerging in all the process may be only the fact of acquiring the property. ‘Banrock Station now also supports wetlands restoration projects in other countries where it sells its wines including New Zealand, Sweden, Finland, the Netherlands, Canada, the United States and the United Kingdom.’ (Landcare Australia 2001). For example in Canada ‘for every bottle sold, a donation is made to the Banrock Station Wetlands Foundation Canada to support wetland conservation projects.’ (Banrock Station Shiraz). The region under BRLH care in this project developed and increased its potential. ‘During 1998 Richard Stafford architects developed this project for the BRL Hardy Corporation as a combined wine tasting, visitor destination and information centre, to be known as the Wine Wetland Centre.’ (Banrock Station). ‘Banrock Station is an exemplary example of an innovative cellar door that truly reflects the brand.’ (Richard Stafford). The BRLH Company made a lot of successive affords to expand its production on the world market, though there were some faults and mishaps as it always happens when managers start doing greater business. The most significant is that the company should see its mistakes and try to overcome them with less looses for the company profit. And it is clear that ‘in the future, a companys ability to develop a transnational organizational capability will be the key factor that separates the winners from the mere survivors in the international competitive environment.’ (Rugman 1992, p. 1). The question of transnational companies was of great concern to many countries even in 1980s. ‘Discussions on the role of transnational corporations (TNCs) in the current international economic situation and on the modern phenomenon of transborder data flows highlighted the work of the Commission on Transnational Corporations at its tenth regular session, held from 17 to 27 April in New York.’ (UN Chronicle 1984, p.1). The idea of transnational companies became very significant in the twentieth century as ‘in the last quarter of the twentieth century the international flows of goods and capital increasingly broke down the notion of sovereign nation-states.’ (Pries 2001 p. 5).    References. ‘Banrock Station’ Available on http://www.emilis.sa.on.net/projects/emil_63.htm (Accessed August, 9 2005). ‘Banrock Station – Environmental rehabilitation of wetlands’. Available on http://www.austrade.gov.au/corporate/layout/0,,0_-1_-2_-3_PWB110405321-4_-5_-6_-7_DOCUMENT,00.html. (Accessed August, 9 2005). ‘Banrock Station Shiraz’ Available on http://www.churchillcellars.com/banrock_shiraz.shtml   (Accessed August, 9 2005). Bartlett, CA Ghoshal, S Birkinshaw, J 2004, ‘Transnational Management: Text, Cases, and Readings in Cross-Border Management’,Fourth edition, New York and London: McGraw-Hill/Irwin. ‘Commission Discusses Role of Transnational Corporations in World Development’ 1984, Magazine article, UN Chronicle, Vol. 21, July. Ebow Bondzi-Simpson, P 1990, ‘Legal Relationships between Transnational Corporations and Host States’, Quorum Books. Eom, SB 1994, ‘Transnational Management Systems: An Emerging Tool for Global Strategic Management’, SAM Advanced Management Journal, Vol. 59. Harrison, JS 2003, ‘Strategic management of resources and relationships: concepts and cases’, New York and Chichester: Wiley, p. 315. Jacobsson, B Là ¦greid, P Pedersen OK 2003, ‘Europeanization and Transnational States: Comparing Nordic Central Governments’, Routledge. Kotabe, M 1992, ‘Global Sourcing Strategy: RD, Manufacturing, and Marketing Interfaces’, Quorum Books. ‘Landcare Australia’ 2001. Available on http://www.landcareaustralia.com.au/sponsordisplay.asp?SponsorID=23 (Accessed August, 9 2005). Lecher, W Platzer, HW 1998, ‘European Union European Industrial Relations? Global Challenges, National Developments and Transnational Dynamics’, Routledge. Ohmae, K 1985, ‘Triad Power’, New York: The Free Press.   Pries, L 2001, ‘New Transnational Social Spaces: International Migration and Transnational Companies in the Early Twenty-First Century’, Routledge. ‘Richard Stafford Banrock Station’ Available on http://www.offthevine.com.au/ep27/industry_ep27.html (Accessed August, 9 2005). Rugman, AM and Verbeke, A 1992, ‘Note on the Transnational Solution and the Transaction Cost Theory of Multinational Strategic Management’, Journal of International Business Studies, Vol. 23. ‘Wetlands Australia — National Wetlands Update 2003’ 2003, Environment Australia for the Australian Wetlands Information Network (AWIN), Environment Australia, February, Issue No. 11, ISBN 0642549052.Available on http://www.deh.gov.au/water/wetlands/publications/wa11/banrock.html (Accessed August, 9 2005).

Criminology Essays Death Penalty Capital

Criminology Essays Death Penalty Capital Death Penalty Capital In today’s society many believe that the death penalty is a proper way to punish individuals sentence of capital crimes. Since the beginning of time this has been a controversial subject because each individual feels and believes a certain way towards this process. Many have lost loved ones who suffered and feel the death penalty is the righteous punishment, best form of revenge, or even type of closure. However, theirs those who argue that this is a process that is time consuming, expensive, ineffective, and morally wrong. Also the fact that the death penalty can lead to the deaths of innocent people is the number one cause of mistrust of the legal system (Ruddell, 2000). Capital punishment is important and vital to our society because it’s something that affects and shapes our legal system. Our legal system is what keeps our society and way of life in control and organized. As this system is mistrusted or flawed our society with each case is affected in their confiden ce, morals, and reliance towards our legal system. The inconsistencies that have emerged are what make this a subject widely discussed and so controversial. Capital punishment is an unnecessary punishment that is faulty and ineffective and must be changed. In the study â€Å"Political Culture and The Death Penalty† Fisher conducts research in effort to understand why the death penalty varies among the fifty states. He investigates if political culture is a determinate of states adopting capital punishment. The results indicate that there is a strong relationship between political culture and the death penalty (Fisher, 2006). Also that political culture does affect the existence of the death penalty in each state and the frequency of sentences. He goes on to explain that not all states adopt the death penalty in efforts to deter crime but rather to maintain social order within society (Fisher, 2006). The minority threat hypothesis is introduced in the study â€Å" Social disruption, state priorities, and minority threat†. This hypothesis purposes that, as there is a change in size the minority group competes for economic and political power, which becomes a threat (Ruddell, 2000). In response to this threat politically powerful groups support the control of minorities to maintain their own position (Ruddell, 2000). This hypothesis expresses that this is why many of those who are incarcerated and subjected to sever punishments are minorities. This hypothesis attempts to explain why our political leaders today support the death penalty and are against abolishing it through out our legal system. That this is a way of control rather then a way of deterring crime. The death penalty is labeled flawed because of different reasons, but in a study conducted by Stauffer titled â€Å"The interaction between victim, race, and gender on sentencing outcomes in capital murder trial† its many vital reasons that come into affect. In this study the researcher examines numerous cases within the North Carolina prison system and the overall distribution of sentences. The results show that in cases where the victim is female the death sentence is 57.5% verse 42.5% male victim cases (Stauffer, 2006, p. 64). In all the cases and combination of cases it’s shown that there is a difference in sentencing when it comes to race, gender, and status. This confirms the existence of discrimination within death penalty sentences, that just one circumstance could change the outcome. Get help with your essay from our expert essay writers During the end of 1999 the Bureau of Justice Statistics reported that 3,527 inmates where under death sentences which equals to a 2% increase in just a year (Rein, 2002, p. 102). In the 3,527 inmates 528 were executed, 205 died while waiting to be executed, and 2,193 had their sentences overturned (Rein, 2002, p. 120). In the United States from 1973 to 2000 137 women were executed which is a considerable gap verses 99% (3,663) of males inmates who were under death sentences (Rein, 2002, p. 78). When exploring race 46% of all death row inmates were white, and 43% were black (Bedau, 1997, p. 37). In 2005 the murder rate in death penalty states was 5.87 verses the non-death penalty states 4.03, which is a forty six percent difference (Williams, 2002, p. 169). This proves that adopting the death penalty does not deter or decrease crime in any give area (Henningfeld, 2006, p. 2). In these brief statistics it’s clear the system is not only not deterring crime, but the opposite is ha ppening each year as crime and incidents are rising. Another studied conducted by Thorsten Sellin in 1959 supports that the death penalty is not effective to American society (Winters, 1997, p. 100). Sellin conducted an extensive study of capital punishment within the United States. He measured social structure, history, and economy of each state. As he compared each time he found the death penalty had no affect on the homicide rate of that particular state (Winters, 1997, p. 101). Sellins work has been replicated numerous times and with each replication his findings were confirmed (Winters, 1997, p. 101). The death penalty is the ultimate act that is irreversible and a denial of human rights and liberties. This practice has not been applied fairly in the past and even now in the present. The death penalty should be eliminated and laws that support it should be changed. The death penalty is a premature way to accomplish justice and should be a process that is changed to better our society. Our system does not promote rehabilitation and when rehabilitation is accomplished still they are executed. Stanley Tookie Williams was executed by lethal injection in December of 2005 even after he had changed his behavior and applied positive goals towards life and helping the youth. The best way to accomplish justice is to change the laws of capital punishment. This will ensure innocent individuals from being executed, preserve the costs, and help society find true justice by sentencing capital offenders to serve a life sentence. The Women’s Bar Association of New York argues for the change and abolishment of capital punishment. They express that the laws should be changed because an error-free death penalty could never exist, that the death penalty discriminates, that the death penalty does not deter crime, and that the public does not support the death penalty (Williams, 2002, p. 170). The death penalty will always generate opposing views and controversy because it’s a process within our society that each individual feels differently towards. Each year innocent individuals are executed and justice is not reached with these inconsistencies and ineffective ways. Our justice system needs to apply major change to our laws dealing with the death penalty because this process is only working against our efforts to deter crime. This process has not help society solve the crime rate and it’s only sending the wrong message into the community. The research shows that comprehensive investigation proves that this process is unsuccessful, which also confirms that the death penalty is form of revenge, control, and closure to those that feel it’s vital to our system and humanity. References Bedau, H. (1997). The Death Penalty in America: Current Controversies. New York: Oxford University Press. Fisher, P. (2006). Political Culture and The Death Penalty. Criminal Justice Policy, 17 (1), 48-60. Henningfeld, D. (2006). The Death Penalty: opposing view points. New York: Greenhaven Press. Rein, M.(2002). Capital Punishment: Curel And Unusual?. New York: Routledge. Ruddell, R (2000). Social disruption, state priorities, and minority threat. Punishment and Society, 7(1), 7-28. Stauffer, A. (2006). The interaction between victim, race, and gender on sentencing outcomes in capital murder trial, 10 (2), 98-177. Williams, M. (2002). The Death Penalty: opposing view points. New York: Greenhaven Press. Winters, P. (1997) The Death Penalty: opposing view points. New York: Greenhaven Press.

The Hidden Meaning of The Nuns Priests Tale Essay -- Nun’s Priest’s

The Hidden Meaning of The Nun's Priest's Tale  Ã‚     Ã‚   It has been suggested that a "Chaucer tale exploits the nature of its genre but also draws attention to the ideological biases and exclusions inherent in the genre"2. In my opinion The Nun's Priest's Tale is a wonderful example of Chaucer testing the bounds of his chosen genre - in this case the beast fable. What is a beast fable? Obviously a tale about animals, but one where "animals are used as embodiments or caricatures of human virtues, vices, prudences, and follies ... and the other typical qualities of mankind. They are generally brief cautionary anecdotes that use the obvious resemblances between man and animals to point a moral or push a proverb home entertainingly"3. Chaucer can be seen to exploit the nature of the beast fable fully in The Nun's Priest's Tale. It contains all of the traditional elements mentioned above: the central characters are the chickens Chauntecleer and Pertelote, and Russell the fox; the culpability, gullibility, guile and boastfulness of the characters are examined; the tale is brief, approximately 650 lines; and several morals are offered. The tale is also entertaining, but not only because of its caricatures of human traits. The tale contains numerous sub-genres such as the romance, rhetorical debate, and Christian misogyny, and it is the interplay of these sub-genres with the framing beast fable that creates much of the humour. In The Nun's Priest's Tale Chaucer shows up some of the worst excesses of these popular medieval traditions by putting them into context with his animal characters. The incongruity of a chicken taking part in a debate on the significance of dreams, for example, is inherently comic, but does not just... ...9), 251-270. This from p. 266. 8. F. Anne Payne, "Foreknowledge and Free Will: Three Theories in the Nun's Priest's Tale" The Chaucer Review 10 (1975), 201-219. This from p. 208 9. Ian Bishop, "The Nun's Priest's Tale and the Liberal Arts," Review of English Studies NS30 (1979), 257-267. This from p. 17. 10. Payne, p. 205. 11. Walter Scheps, "Chaucer's Anti-fable: Reductio ad absurdum in the Nun's Priest's Tale," Leeds Studies in English 4 (l970), 1-10. This from p. 7. 12. Bishop, p. 266. 13. Payne. p. 218. 14. Payne. p. 210. 15. Payne. p. 211. 16. 0wen, p. 267 17. Jill Mann, "The Speculum Stultorum and the Nun's Priest's Tale," The Chaucer Review 9 (1975), 262-282. This from p. 275. 18. Friedman. p. 253. 19. 0erlemans, p. 318. 20. Scheps. p. 8. 21. Payne, p. 214. 22. Mann, p. 277.      

Pharmacy Tech Handout #1

Pharmacy Technician Certification Board, exam scoring requirements per www. ptcb. org The pharmacy technician performs activities related to three broad function areas. The specific responsibilities and activities that pharmacy technicians may perform within each function area are:   I. Assisting the Pharmacist in Serving Patients (66% of exam)   |   A. |   Receive prescription/medication order(s) from patient/patient’s representative, prescriber, or other healthcare professional 1.Accept new prescription/medication order from patient/patient’s representative, prescriber, or other healthcare professional 2. Accept new prescription/medication order electronically (for example, by telephone, fax, or electronic transmission) 3. Accept refill request from patient/patient’s representative 4. Accept refill authorization from prescriber or other healthcare professional electronically (for example, by telephone, fax, or electronic transmission) 5. Contact prescri ber/originator for clarification of prescription/medication order refill 6.Perform/accept transfer of prescription/medication order(s)|   B. |   Assist the pharmacist in accordance with federal rules and regulations in obtaining from the patient/patient’s representative such information as diagnosis or desired therapeutic outcome, disease state, medication history (including over-the-counter [OTC] medications and dietary supplements), allergies, adverse reactions, medical history and other relevant patient information, physical disability, and payor information (including both self-pay and third party reimbursement)|   C.   Assist the pharmacist in accordance with federal rules and regulations in obtaining from prescriber, other healthcare professionals, and/or the medical record such information as diagnosis or desired therapeutic outcome, disease state, medication history (including [OTC] medications and dietary supplements), allergies, adverse reactions, medical hi story and other relevant patient information, physical disability, and payor information (including both self-pay and third party reimbursement)|   D.   Collect and communicate patient-specific data (for example, blood pressure, glucose, cholesterol levels, therapeutic drug levels, immunizations) to assist the pharmacist in monitoring patient outcomes|   E. |   Collect and communicate data related to restricted drug distribution programs (for example, thalidomide, isotretinoin, and clozapine)|   F. |   Collect and communicate data related to investigational drugs|   G. |   Assess prescription or medication order for completeness (for example, patient's name and address), accuracy, authenticity, legality, and reimbursement eligibility|   H.   Update the medical record/patient profile with such information as medication history (including [OTC] medications and dietary supplements), disease states, compliance/adherence patterns, allergies, medication duplication, an d/or drug-disease, drug-drug, drug-laboratory, drug-dietary supplement and/or OTC, and drug-food interactions|   I. |   Assist the patient/patient's representative in choosing the best payment assistance plan if multiple plans are available to patient|   J. |   Process a prescription/medication order 1. Enter prescription/medication order information onto patient profile 2.Select the appropriate product(s) for dispensing (for example, brand names, generic substitutes, therapeutic substitutes, formulary restrictions) 3. Obtain pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances, controlled substances, and investigational products) from inventory 4. Calculate quantity and days supply of finished dosage forms for dispensing 5. Measure or count quantity of finished dosage forms for dispensing 6. Process and handle radiopharmaceuticals 7. Perform calculations for radiopharmaceuticals 8.Process and handle chemotherapeut ic medications commercially available in finished dosage forms (for example, Efudex, mercaptopurine) 9. Perform calculations for oral chemotherapeutic medications 10. Process and handle investigational products 11. Package finished dosage forms (for example, blister pack, robotic/automated dispensing vial) 12. Affix label(s) and auxiliary label(s) to container(s) 13. Assemble patient information materials (for example, drug information sheets, patient package inserts, Health Information Portability and Accountability Act [HIPAA] literature) 14.Check for accuracy during processing of the prescription/medication order (for example, National Drug Code [NDA] number, bar code, and data entry) 15. Verify the data entry, measurements, preparation, and/or packaging of medications produced by other technicians as allowed by law (for example, tech check tech) 16. Prepare prescription or medication order for final check by pharmacist 17. Prepare prescription or medication order for final check by pharmacy technician as allowed by law (for example, tech check tech) 18. Perform Nuclear Regulatory Commission (NRC) required checks for radiopharmaceuticals|   K. Compound a prescription/medication order: 1. Assemble equipment and/or supplies necessary for compounding the prescription/medication order 2. Calibrate equipment (for example, scale or balance, total parenteral nutrition [TPN] compounder) needed to compound the prescription/medication order 3. Perform calculations required for preparation of compounded IV admixtures 4. Perform calculations for extemporaneous compounds 5. Compound medications (for example, topical preparations, reconstituted antibiotic suspensions) for dispensing according to prescription and/or compounding guidelines 6.Compound medications in anticipation of prescriptions/medication orders (for example, compounding for a specific patient) 7. Prepare sterile products (for example, TPNs, piggybacks, IV solutions, ophthalmic products) 8. Prepare radio pharmaceuticals 9. Prepare chemotherapy 10. Record preparation and/or ingredients of medications (for example, lot number, control number, expiration date, chemotherapy calculations, type of IV solution)|   L. |   Provide prescription/medication to patient/patient's representative: 1. Store medication prior to distribution 2.Provide medication and supplemental information (for example, package inserts) to patient/patient’s representative 3. Package and ship pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products) to patient/patient's representative li>Place medication in dispensing system (for example, unit-dose cart, automated systems) 4. Deliver medication to patient-care unit 5. Record distribution of prescription medication 6. Record distribution of controlled substances 7. Record distribution of investigational drugs 8.Record distribution of restricted drugs (for example, isotretin oin, clozapine, thalidomide) 9. Record distribution of prescription/medication to patient's home|   M. |   Determine charges and obtain reimbursement for products and services|   N. |   Communicate with third-party payers to determine or verify coverage|   O. |   Communicate with third-party payers to obtain prior authorizations|   P. |   Communicate with third-party payers and patients/patient's representatives to rectify rejected third-party claims|   Q. |   Identify and resolve problems with rejected claims (for example, incorrect days supply, incorrect ID number)|   R.   Provide supplemental information (for example, disease state information, CDs) as requested/required|   S. |   Direct patient/patient's representative to pharmacist for counseling|   T. |   Perform drug administration functions under appropriate supervision (for example, perform drug/IV rounds, check pumps, anticipate refill of drugs/IVs)|   U. |   Process and dispense enteral products| II. Maintaining Medication and Inventory Control Systems (22% of exam)   Ã‚  |   A. |   Identify pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products) to be ordered|   B.   Place routine orders for pharmaceuticals, durable and nondurable medical equipment, devices, and supplies (including hazardous substances and investigational products) in compliance with legal, regulatory, formulary, budgetary, and contractual requirements|   C. |   Place emergency orders for pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products) in compliance with legal, regulatory, formulary, budgetary, and contractual requirements|   D.   Receive pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products) and verify against specifications on original purchase orders|   E. |   Place pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products) in inventory under proper storage conditions while incorporating error prevention strategies|   F.   Perform non–patient-specific preparation, distribution, and maintenance of pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products) while incorporating error prevention strategies (for example, crash carts, clinic and nursing floor stock, automated dispensing systems)|   G. |   Remove from inventory expired/discontinued/slow moving/overstocked pharmaceuticals, durable and nondurable medical equipment, devices, and supplies (including hazardous substances and investigational products)|   H.   Remove from inventory recalled pharmaceuticals, durable and non-durable medical equip ment, devices, and supplies (including hazardous substances and investigational products)|    I. |   Dispose of or destroy pharmaceuticals or supplies (for example, hazardous substances, investigational products, controlled substances, non-dispensable products)|   J. |   Communicate changes in product availability (for example, formulary changes, recalls, shortages) to pharmacy staff, patient/patient’s representative, physicians, and other healthcare professionals|   K.   Implement and monitor policies and procedures to deter theft and/or drug diversion|   L. |   Maintain a record of controlled substances ordered, received, and removed from inventory|   M. |   Maintain a record of investigational products ordered, received, and removed from inventory|   N. |   Perform required inventories and maintain associated records|   O. |   Maintain record-keeping systems for repackaging, non-patient specific compounding, recalls, and returns of pharmaceutica ls, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products)|   P.   Compound non-patient specific medications in anticipation of prescription/medication orders|   Q. |   Perform quality assurance tests on compounded medications (for example, end product testing and validation)|   R. |   Repackage finished dosage forms for dispensing (for example, unit dose, blister pack, oral syringes) Participate in quality assurance programs related to pharmaceuticals, durable and non-durable medical equipment, devices, and supplies (including hazardous substances and investigational products)| III.Participating in the Administration and Management of Pharmacy Practice (12% of exam)   |   A. |   Coordinate written, electronic, and oral communications throughout the practice setting (for example, route phone calls, faxes, verbal and written refill authorizations; disseminate policy and procedure changes)|   B . |   Update and maintain patient information (for example, insurance information, demographics, provider information) in accordance with federal regulations and professional standards (for example, Health Insurance Portability and Accountability Act [HIPAA])|   C.   Collect productivity information (for example, the number of prescriptions filled, fill times, payments collected, rejected claim status)|   D. |   Participate in quality assurance activities (for example, medication error prevention, customer satisfaction surveys, and internal audits of processes)|   E. |   Generate quality assurance reports (for example, compile or summarize data collected for evaluation or action plan development, root cause analysis)|   F. |   Implement and monitor the ractice setting for compliance with federal regulations and professional standards (for example, Materials Safety Data Sheet [MSDS], Occupational Safety Health Administration [OSHA], Joint Commission on Accreditation of Healthcare Organizations [JCAHO], United States Pharmacopeia [USP])|   G. |   Implement and monitor policies and procedures for infection control|   H. |   Implement and monitor policies and procedures for the handling, disposal, and destruction of pharmaceuticals and supplies (for example, hazardous substances, investigational products, controlled substances, non-dispensable products, radiopharmaceuticals)|   I.   Perform and record routine sanitation, maintenance, and calibration of equipment (for example, automated dispensing equipment, balances, TPN compounders, and refrigerator/freezer temperatures)|   J. |   Update, maintain, and use manual or electronic information systems (for example, patient profiles, prescription records, inventory logs, reference materials) in order to perform job related activities|   K. |   Use and maintain automated and point-of-care dispensing technology|   L. Perform billing and accounting functions for products and service s (for example, self-pay, third-party adjudication, pharmaceutical discount cards, medication reimbursement)|   M. | Communicate with third-party payers to determine or verify coverage for products and services|   N. | Coordinate and/or participate in staff training and continuing education|   O. | Perform and/or contribute to employee evaluations and competency assessments|   P. | Participate in the establishment, implementation, and monitoring of the practice setting’s policies and procedures  |