Study Guide Mis 691 Chapter 2

Study Guide MIS 691 Midterm Chapter 2 2. 2 Entity: One theme or topic; something of importance to a user that needs to be represented in a database. In the entity-relationship model, entities are restricted to things that can be represented by a single table. An example of this is in the EMPLOYEE table; data about the entity (the employee) is in the table rows and data about the entity’s attributes are in the rows. 2. List the characteristics a table must have to be a relation: * Each row of the table holds data that pertain to some entity or a portion of some entity * Each column contains data of the attributes of the entity * The cells must hold a single value; no repeating elements * All of the entries in any column must be the same kind * Each column must have a unique name and the column order is unimportant * The order of the rows in unimportant * No two rows in the table may hold identical data values 2. 0 Define the term unique key and give an example: A key that defin es a unique row. An example of a unique key in the EMPLOYEE table is EmployeeNumber; the query of any EmployeeNumber (223 for example) will only produce a single row and data for one employee. 2. 11 Non-unique key: A key that potentially identifies more than one row. In the EMPLOYEE table from our book, Department is a non-unique key because it identifies several rows. 2. 12 Give an example of a relation with a unique composite key: A composite key contains two or more attributes.An example of a unique composite key in the EMPLOYEE table is if we combined LastName, FirstName, and Department as a key; these three attributes combined would insure that we would identify only one row. 2. 13 Explain the difference between a primary key and a candidate key: Candidate keys are keys that uniquely identify each row in a relation. They can be single or composite. The primary key is the candidate key that is chosen as the key that the DBMS will use to uniquely identify each row. 2. 5 What is a surrogate key and under what circumstances would you use one? A surrogate key is a column with a unique, DBMS-assigned identifier that has been added to a table to be the primary key. You would use a surrogate key when the primary key in the table is not ideal. You add a surrogate because it is short, numeric, and will never change – it is an ideal primary key. 2. 20 Define the term referential integrity restraint and give an example: A relationship constraint on foreign key values.A referential integrity constraint specifies that the values of a foreign key must be a proper subset of the values of the primary key to which it refers. In the EMPLOYEE table: the value of Department should match a value of DepartmentName in the DEPARTMENT table. 2. 21 Explain the three possible interpretations of a null value: 1. It could mean that no value is appropriate 2. It might mean that the value is known to be blank (intentionally left blank) 3. It may mean that the value is unknown 2. 4 Name the functional dependency and identify the determinants of: Area = Length x Width Area is functionally dependent upon Length and Width or that the composite of Length and Width are determinants of Area 2. 31 Describe the nature and purpose of the normalization process: Normalization is breaking up tables with more than one theme into sets of tables that have one theme each. You have to do this so that there isn’t repeat information in a table and so there are no modification or deletion issues.Normalization: Normalization is the process of breaking a table with one or more theme into a set of tables such that each only has one theme. You need to create a well-formed relation: 1. Every determinant must be a candidate key 2. Any relation that is not well-formed should be broken into two or more relations that are well-formed The Normalization Process: 1. Indentify all of the candidate keys 2. Indentify all of the functional dependencies 3. Examine the dereminants of the functional dependencies.If any determinant is not a candidate key, the relation is not well-formed. In this case: a. Place the columns of the functional dependency in a new relation of their own b. Make the determinant of the functional dependacy the primary key of the new relation c. Leave a copy of the determinat as a foreign key in the original relation d. Create a referential integrity constraint between the orginal and the new relation. 4. Repeat step 3 until every key is a candidate key

Introduction Of Intravenous Urography Definitions Health And Social Care Essay

Radiography scrutiny of urinary piece of land via endovenous injection of contrast media ( giving liquid substances straight into a vena ) .This construction became as a flow or urination.This flow did n't demo a clear image in a general x-ray.Although, with endovenous urography process, contrast media is injected into vena ( endovenous injection ) . The contrast media will flux through all the venas, that is focused at the kidney part and flows out at ureter and go as urine.The contrast media will be opaque to the x-ray.So, kidney, ureter, urethra construction and saddle sore vesica will be shown clearly as white or opaque countries on the x-ray image.The x-ray image is known as endovenous urography.PurposeIntravenous urography will finish information all about kidney disease, ureter and chafe bladder.This process consists of two phase.First, it needs good functional of kidney to filtrate dye comes out from blood to urine.Time that needed for dye to be on X ray is related with kidney function.Second stage gives anatomical image of urination piece of land. Between foremost proceedingss, the dye will give clear image of kidney, stage that called as nephrogram.The other image will follow dye that passes down to the ureter and saddle sore bladder.The last movie is taken after urine comes out will demo how the saddle sore vesica is emptied well.Intravenous urography by and large undergoes for valuate the abnormalcy construction or obstructor of the micturition piece of land.INTRAVENOUS UROGRAPHY HELPS IN THE PROBLEMSKdney rocks in the kidney ( a rock in kidney or ureter will be shown clearly on the x-ray movie ) , Urine infection ( if patient has infection at the vesica or kidney, endovenous urography helps to happen if patients has obstructor or unnatural kidney ) , haematuria / hemorrhage in piss ( it is caused by infections, annoyance and tumour in kidney.with endovenous urography, it can assist to happen the cause ) , obstructor or amendss at any portion at urination piece of land can be seen by endovenous urography.Contrast MEDIAHigh- osmolality contrast media ( HOCM ) or low-osmolality contrast media ( LOCM ) are acceptable but the undermentioned ‘high hazard ‘ groups should have LOCM such as babies and little kids and the aged, those with nephritic and / or cardiac failure, ill hydrated patients, patients with diabetes, myelomatosis or sickle-cell anemia, patients who have had a old terrible contrast medium reaction with LOCM or those with a strong allergic history.ADULTS DOSE50 milliliter.PAEDIATRIC DOSE1 ml kgE†°? .PATIENT PREPARATIONNo nutrient for 5 hours prior to the examination.The patient should non be overhydrated but should be usually hydrated.Dehydration is non necessary and does non better image quality.Patients should be, sooner, be ambulatory for 2 hr prior to the scrutiny to cut down intestine gas.The everyday disposal of bowel readying fails to better diagnostic quality of the scrutiny and its usage makes the scrutiny and its usage makes the scrutiny more unpleasant for the pati ent, others claim there is no grounds this is advantageous. The patient should avoid the heavy repast prior to the scrutiny to cut down the sum of intestine gas, and the vesica should be empty.If the scrutiny is to be performed on a patient who has antecedently had a terrible contrast medium reaction, consideration should be given to administrating methyl Pediapred 32 milligram orally 12 and 2 hr prior to injection of contrast medium inaddition to guaranting that a LOCM is used Preliminary radiogram should be taken to show possible calcifications, concretions or other abnormalcies in the venters to happen the place of the kidneys, and to look into the technique factors.Preparation BEFORE INTRAVENOUS UROGRAPHY EXAMINATIONThe kidney should can be filter the contrast.For that, it is rare to make if the patient has unfunctional kidney.Before the process, the patient needs to undergoes blood trial to do certain the kidney is good function.The patient should inform the physician if there are any allergic reaction, prior to the contrast media likes iodine.The patient informed that do non devour any heavy repast certain hours before the procedure.This is to do certain, the patient ‘s colon is free from nutrients that can do the image became clear .The patient will be given laxatives ( dulcolax / heavy doses causes painful cramps ) before the procedure.the intent is to clean the intestine that can do the x-ray image more clear.The patient will besides be given the informed consent for patient understand about the procedure.If patient has diabetes and takes Glucophage, the patient should halt takes the pills for two yearss before the examination.This is caused by the combination of Glucophage and contrast media that maybe gives side effects to the kidney.AFTER THE PROCEDUREAfter the endovenous urography process, the physician will name the movies discourse how to do colony with the patient and family.As an illustration, the physician can non see both of the kidney x-ray image clearly after four hours, the patient should let them to see for the following process. There are many causes of the obstructors is kidney stones.the other causes are mass, tumour or malignant neoplastic disease at the tissue near the ureter.Sometimes, the hemorrhage in kidney can do blood coagulum that cause obstructor of micturition from gall vesica and ureter. See of this scrutiny, the physician will do two actions ; either waiting for yearss for the rocks pass out in urine or refer to the specializer of the Urology that maestro in micturition disease.If the endovenous urography shown the obstructor of big rock in the upper or in-between portion of ureter, the urologist possibly used lithotripter machine that send sound moving ridges to interrupt rocks to little atoms that can go through through the ureter easy and comes out from organic structure via piss.PRELIMINARY FILMSupine, full length AP of the venters, in inspiration.The lower boundary line of the cassette is at the degree of the symphysis pubic bone and x-ray beam is centred in the mid-line at the degree of the iliac crests.TechniqueThe average antecubital vena is the preferable injection site because flow is retarded in the cephalic vena as it pierces the clavipectoral fascia.A 19-G is advanced up the vena to cut down the hazard of a perivenous injection and the injection is give n quickly as a bolus to maximise the denseness of the nephrogram.Upper arm or shoulder hurting may be due to stasis of contrast medium in the vein.This is relieved by abduction of the arm. The patient is undress ( have oning infirmary gown ) and lying on the x-ray table.The contrast media is injected into venas or the arm.Ptient possibly feels pain.The contrast media is filtered via kidney and to ureter.The uninterrupted x-ray image is taken at the venters, normally every five proceedingss to ten proceedingss. Patient is lying on the x-ray tabular array when the x-ray image is taken but, the patient will teach to travel to the lavatory for micturution before the last x-ray image is taken.Although, a few x-ray image is taken for hours before the examinationin certain conditions.Patient can endorse place after the process is done.Patient can devour normal repast after the scrutiny.MoviesIMMEDIATE FILMAnteroposterior ( AP ) renal areas.This movies is exposed 10-14 seconds after the injection ( arm-to-kidney clip ) .Its purposes to demo the nephrogram, as an illustration the nephritic parenchyma opacified by contrast mediain the nephritic tubules.5-MINUTES FILMAP nephritic areas.This movie is taken to find if eliminations is symmetrical and is priceless for measuring the demand to modify technique, as an examplea farther injections of contrast media if there has been hapless initial opacification. A compaction set is now applied around the patient ‘s venters and the balloon positioned halfway between the anterior superior iliac spinal columns, as an illustration exactly over the ureters as they cross the pelvic brim.The purpose is to bring forth better pelvicalyceal distension.Compression is contraindicated after recent abdominal surgery, after nephritic injury, if there is a big abdominal mass and when the 5-minutes movie shows already distended calyces.15-MINUTES FILMAp of nephritic areas.There is normally equal distention of the pelvicalyceal systems with opaque piss by this time.Compression is releasd when satisfactory presentation of the pelvicalyceal systems has been achieved.RELEASE FILMSupine AP abdomen.This movie is taken to demo the whole urinary tract.If this movie is satisfactory, the patient is asked to empty their vesica.AFTER MICTURITION FILMBased on the clinical findings and the radiological findings on the earlier movies, this will be either a full-lengt h abdominal movie or a coned position of the vesica with the tubing angled 15 & A ; deg ; caudad and centred 5cm above the symphysis pubic bone. The chief value of this movie is to measure vesica voidance, to show a return to normal of dilated upper piece of lands with alleviation of vesica force per unit area, to help the diagnosing of vesica tumours, to corroborate ureterovesical junction concretion and, uncommonly, to show a urethral diverticulum in females.RISKS AND SIDE EFEECTSThere are small opportunities to acquire malignant neoplastic disease from radiation exposure.Radiation dosage that effectual from this process this is 3msv, same like people who are got the radiation in one year.Contrast media that is used in endovenous urography can do to irritation reaction to patients, sometimes it need medical treatment.Pregnant adult female should inform physician or radiographer if they are pregnant. Small per centum of patient that got serious allergic reaction to contrast media, like unable to talk, breath or sup, swollen at lips and lingua, low blood force per unit area or faint.During the contrast media is injected, patient feels hot.This allergic reaction to contrast media is rare to happen.The effects is inflammation of the tegument, annoyance and conceited lips, The serious effects is hard in take a breathing and swoon cause of the low blood force per unit area.DecisionRadiographer demand to hold a high grade of cognition, accomplishment, consciousness and involvement in this field so that they can carry through their day-to-day responsibilities efficaciously without seting patients life in danger.Contrast media is used in endovenous urography so that there are opaque or white countries at the kidney construction, ureter and vesica and this aid in better more clear x-ray image.Intavenous urography is an x-ray process that is used to name kidney jobs, ureter, vesica and ure thra tract.This construction became it as micturition tract.The urination piece of land did n't demo clear image in general x-ray image. Although, with endovenous uroraphy, contrast media is injected into the vien ( endovenous is the giving of liquid substances straight into a vena ) that focused at kidney and comes out through the ureter as urine.Contrast media will be opaque to the x-ray.So, the kidney, ureter and vesica will shown as white or opaque countries in x-ray image.X -ray image that green goods is known as endovenous urography.

Did the Republican Party from 1877 to 1896 abandon its earlier principles and succumb to expediency? Essay

The Gilded Age was a big change for both Democrat and Republican parties. Both sides started changing tactics to stay in power, but one was more prominent. The Republican Party in the Gilded Age did drop abandon their earlier principles because of the Compromise of 1877 and getting votes. The Compromise of 1877 was the time that the Republican Party really abandoned their principles. This compromise allowed the Republicans to take the presidential office by withdrawing federal troops from the South. Due to this deal, the Democrats reclaimed power in the South, while the Republicans remained in power in both the Senate and the White House. In doing so, they did sacrifice their goals of complete southern Reconstruction in order to win the election. Former slaves lost all federal protection and conditions in the South were returned to a state only marginally better than slavery. However, before ending reform efforts, the Republicans did manage to improve social and economic conditions for African Americans living in the South. These efforts, although not completely establishing reform, did lay down the foundation to future change. This first step ensured that the Republicans, while stopping major projects, continued their previous intentions in a small way. Another reason Republicans succumbed to was their need to win. In the Gilded Age, politicians stopped talking about major important issues of the day and instead focused on getting the vote by appealing to the masses without making any enemies. Fresh from the Civil War, the Republicans won election into the White House the majority of elections in this time period by dropping to a level of personal attacks against the South and the people within it (waving the â€Å"bloody shirt†). On top of these campaign and party tactics, the Republican Party was split significantly prior to the election of Garfield between â€Å"Halfbreeds† and â€Å"Stalwarts.† The conflicts between these two factions and the greedy desire for government spoil positions not only led to political strife, but also led to the assassination of President Garfield shortly after his election. So all in all, the Republican Party did abandon their policies in order to stay in power. They stopped trying to address the issues and instead just appealed for votes. They also dropped to personal attacks just to win. The Republican Party in the Gilded Age did drop abandon their earlier principles because of the Compromise of 1877 and getting votes.

Browning ordinary men Essay Example | Topics and Well Written Essays - 500 words

Browning ordinary men - Essay Example According to the morals of the society, execution of mass murder by soldiers is an inhumane act that erodes morals accorded to life and its significance. The reason of committing the mass murder by the help of the soldiers is Germany was to uphold Germany’s superiority against other races (Browning 16). The soldiers that carried out this particular mass murder also demonstrated lack of humanity to the innocent Jews. Thousands of the recruited police and soldiers armed with ammunition surrounded the unarmed Jews with the intention only to kill them hardheartedly (Browning 6). In addition, the armed soldiers and police officers shoot the unarmed Jews with intent to kill in ravines, ditches and forests. Hence, soldiers as the perpetrators of the mass murder depicts how one during their time would turn to be influential such that he could dictate the existence of other especially the Jews who were the victims of the day. Consequently, this power and influential status of the soldi ers prompted them to commit atrocities. One of the significant aspects that transformed soldiers to merciless killers was their respective psychological transformations dictated by circumstances, which they were in during then. Respective psychological transformations experienced by soldiers compelled them to unleash torture as well as exterminate innocent and helpless Jews (Browning 171). Transformation in this case implies abrupt change due to circumstance from being or behaving like an ordinary man to individuals who are merciless and ready to participate in committing serious historical crimes against humanity, which is by killing the defenceless through shooting as they did to Jews. The perpetrators of the German holocaust showed a sense of loyalty and obedience to their government. Each perpetrator was a subject to the ruling government under the Nazi

Social Psychology - Social Research Essay Example | Topics and Well Written Essays - 500 words

Social Psychology - Social Research - Essay Example People always strive for mastery, which means they try to comprehend and forecast events in the social world in order to obtain encouragement. They enjoy feeling experienced and effective and will do their best to obtain these feelings. And on the contrary they are likely to avoid situations that exclude obtaining them. People are apt to seek connectedness, i.e. they look for support, love, and acceptance from those who surround them. Due to this groups they care about and value usually make people behave in a manner to liking from representatives of such groups. People value "me and mine" that means they wish to see themselves - as well as other people and groups they like - in a positive light. It makes people collect and remember information in the support of this positive motivation, and neglect or simply miss information that proves the opposite (Smith and Mackie, 1995). Each of these principles provides a number of effective tools that can be applied to nearly all spheres of human life to explain the interconnection between a wide variety of factors that influence behavior of an individual or a group.

A Modest Proposal Essay Example | Topics and Well Written Essays - 1250 words

A Modest Proposal - Essay Example Patrick’s Cathedral as Dean. He is known for his marvelous works such as Gulliver’s Travels, A journey to Stella and The Battle of Books etc. In this essay he proposes a method to mitigate the tense and misery in the life of the poverty stricken Irish people. While describing the family conditions of the beggars and the woeful economic situation of the Irish laborers who couldn’t feed their family and their infants, Swift points out a â€Å"surplus† of those infants who could not be fed. By considering the possibility of selling the children into slavery once they reach at the age of twelve, he objects that scheme, not because of the brutality in that scheme but because of its impracticality. Swift said that twelve years is a long time in which a child cannot be fed because of the fragile conditions of his parents, and that he came to know from his acquaintance in America that a one year old child in good healthis : â€Å"a most delicious, nourishing and wholesome Food, whether Stewed, Roasted, Baked or Boiled†(Swift, n.p.). From this point onwards, Swift supports his idea of subjecting the children into cannibalism at earlier age than to nurse the child for twelve years. Following this scheme the mother of the child has only one year to milk him/her so as to make him/her a perfect food for the upper class. After selling her child she would get enough time to work until she is pregnant again. He also showed that this idea if implied would help in reducing the Catholics too, as a Catholic child breeds rapidly as compared to a Protestant child. People could make use of their skin as well. Next he discusses the recipe for older children but refutes it because the meat of an older child would never be as fresh as the infant’s meat. He concludes with six advantages of this scheme and says that nobody should object his proposal until and unless somebody comes with a genuine counter argument and that this entire proposal is in the favor of the Irish prosperity. Critical Analysis Jonathan Swift is known for his satirical writings about the political situation prevailing at that time in his country and the snide comments about the unjust policies of his time. In this article he talked about the somber and murky situation of the poor people of Ireland and the condition of the streets and public places full of beggars followed by a team of their ill conditioned children. The mother of such children instead of earning are forced to beg their infants. All this strive for those children who would either turn themselves into thieves (because of the deprivation of basic necessities), or sell themselves to Barbados or fight for Spain, provide no actual benefit to the country. This fragile and solemn condition of these helpless infants adds more to the already present country grieves. Having explained this weird condition in a melancholic tone he suddenly shocked the audience by his own seemingly a very ruthless an d brutal solution of the problem. He calculates and shows the result that a 12 year breeding of children and then selling them is an impractical scheme and that it costs too much to the parents. However by using a very shrewd stance and highlighting all the negative aspects of the aforesaid scheme he puts forward his own idea of subjecting the infants to cannibalism at the age of one year. The audience had not yet recovered from the shock his seemingly hysteric and madding ideaand he started giving the calculations regarding the saving of a family who follows this proposal. He continued to explain the need of such an idea which if implemented save a thousands of currency per annum. At this point one reading all this juxtaposition of problem and solution would think that the author of this essay could be a serial killer or a

Offenses of burglary Research Proposal Example | Topics and Well Written Essays - 1750 words

Offenses of burglary - Research Proposal Example While in the past, the retributive or punitive aspect has been a foremost element of burglary sentences, in recent times, this has been slowly evolving into a kind of restorative justice, or sentencing, aimed primarily at reparation of economic status of the victims, or seeking to put them in a position, had the felony not taken place. This is apparently aimed at providing material succor to the victims for the property lost or destroyed, due to the felonious act. Current studies show that, imparting from the charge of leniency in burglary pronouncements, the restorative and reparation part of sentencing practices of courts are gaining more currency, especially with regard to public attitudes and outlooks towards burglary crimes in United States of America. It is also being increasingly seen that punishment for felony needs to commensurate with levels of actual felony the culprit has indulged in. This proposal seeks to examine public opinion and beliefs towards sentencing practices by Judges and juries and how these have impacted felony cases. It needs to be appreciated that there are many influences that impact upon opinions. Impressions drawn from media coverage and how the general public view felony crimes and its final sentencing results also determines the formulation of opinions. The changing trends in legal pronouncement are also important since they would, to a large extent, set precedents for future trials and sentencing of defendants in burglary cases. Summary and evaluation of seven designs and methods used in previous research with similar objectives Summary: 1. Questionnaires presented to Senate Court Judges on cases of felony. 2. Interviews conducted with executive functionaries of correctional schools 3. Public surveys with selected respondents and responsible private citizens. 4. Interviews with prison wardens and jailers of juvenile homes 5. Conducting studies in prison settings housing criminals with recidivist occurrences of burglary, larceny and similar crimes 6. Information gathered from State police troopers and law enforcement departments. 7. Internet information gathered from US Department of Justice (DoJ) websites 1. Coming to the involvement of senate court judges, it transpires that the members of these juries are responsible for hearing trials and passing verdicts on crimes relating to burglary offences. Their wide ranging knowledge and experience would be important aspects for a study of this kind. 2. It is seen that in cases of burglary crimes committed by juveniles and young people, the courts would sentence them to detention or incarceration, in correctional or reformatory schools, depending upon the severity of the offence. Although forming a minority for the purpose of this survey, this would be useful for the purpose of this survey. 3. Since the public opinion or benefits are a significant part of this research study, it is but natural that this aspect needs to be considered. Therefore, a survey in the line of public research through online questionnaire, or video conferencing

Design of Concrete Frame based on Iranian Code (2800) and Eurocode (EC Literature review

Design of Concrete Frame based on Iranian Code (2800) and Eurocode (EC 8) for Resistance to Earthquake - Literature review Example Another incident claimed 1000 people in 1981 in Kerman while 40,000 faced the same in Gilan, a province in Northern Iran. The Ritcher scale reading struck 7.2. An earthquake that occurred in Bam in December 2003 is numbered among the 130 major earthquakes in Iranian history with estimated casualty cases of 30-50 thousand (Iranian Studies Group, 2004, p.2). The foundation of assessment of seismic hazard in Iran is on the frequency of seismicity in relation to time and space. In the assessment of seismic hazards, seismotectonic sources are considered. The success of this study relies on regional and local knowledge on geology, seismicity and tectonics. The core sources of seismotectonic forces are; †¢ Fault sources and †¢ Area sources (Takavoli, B., and Ghafory, M., 1999, P.1013). Research conducted by different firms like Wilson (1930), Niazi (1968) and many others reveal that seismicity in Iran is linked to local surface geology and tectonics (1014). Iranian plateau is characterized by active faults, active volcanoes with an Alpine earthquake belt that is elongated and of high surface. Active earthquake activities are found along Zagros fold thrust belt thus making most parts of Iran vulnerable to earthquakes (Takavoli, B., and Ghafory, M., 1999, P.1014).... This allows the required dissipation energy. Capacity design protocols, parameters and fashion designs assist greatly in obtaining of design standards followed in design procedure. Seismic design codes vary from country to country due to various factors which include: The desire for seismic design codes of high quality The impact created on previous earthquakes relying on provision s indicated on the codes Research conducted at academic institutions on seismic designs and The period taken in the implementation of policies and legislative laws. Iran being an earthquake prone area has developed its own codes to be implemented in construction of structures. Reinforced Concrete Frame Buildings Reinforced concrete is composed of horizontal elements called beams and vertical elements called columns. These two components are joined together with rigid joints. The beams and columns are cast together to form a monolithic structure. Reinforced concrete frames offer resistance to gravitational and lateral loads by bending that occurs in beams and columns. Some of the subtypes of reinforced concrete frame construction are: Nonductile reinforced concrete frames with or without infill walls, Nonductile reinforced concrete frames with reinforced infill walls, Ductile reinforced concrete frames with or without infill walls. Tremendous changes have been made to design and details of reinforced concrete frame structures in seismic zones. Earlier building codes focused on requirements needed strength of a structure. The structural members were to provide resistance to lateral seismic loads. From various researches conducted about earthquakes, building codes shifted focus to sectioning and detailing of beams, columns and joints. The aim

Pacific Science Center Long Report Essay Example | Topics and Well Written Essays - 2250 words

Pacific Science Center Long Report - Essay Example For instance, the center recently engaged in a 13-month trip dubbed â€Å"Around the Americas†, in an effort to research and raise the public’s awareness about the fragile nature of our oceans hence the need to protect and preserve them. The science center is also associated with beneficial community based science programs, which are meant to encourage children and the public at large to appreciate the role of science in society. Some of these include the Science Cafà © and Science on Wheels programs. Further, the center continues to display exhibits that thrill guests and inspire their engagement in scientific projects. One such exhibit is Science on a Sphere, which is an intriguing technological tool that makes use of video projectors and computers to show animated picture of Earth’s atmosphere, land and oceans. The center is guided by its strong mission statement, which asserts that the role of PACSCI is to stir a lifetime interest in science, technology, engineering and math (STEM) through creative and interactive science programs and exhibits. The center further envisions communities where adults and children are motivated by science, understand its primary principles, and apply scientific inquiry and knowledge in practical life situations. This paper explores PACSCI’s position in the American science museum sector, by using analytical tools like SWOT and competition analysis; while further providing recommendations on what the center should do to appeal to a g reater audience and maintain its prominence. The Pacific Science Center stemmed from the US Science Pavilion popularized by the Seattle World’s Fair in 1962. PACSCI is, therefore, a pioneer in the scientific museum sector. This is because the center began as a technology and science depository, with large halls full of interactive scientific demonstrations and practical exhibits, and employees or volunteers trained to respond to guests’

Women and Anime Essay Example for Free

Women and Anime Essay Meanwhile, ever since the huge international box office success of Star Wars (released, coincidentally, in 1977, the same year as Space Cruiser Yamato), a growing number of Hollywood blockbusters might best be described as live-action anime. Kathleen Kennedy, executive producer of Steven Spielbergs The Lost World, has acknowledged that Spielbergs method of conceiving a movie closely resembles the composition of an animated film in the sense that the visual ideas precede the story. The computer-generated images used so lavishly in The Lost World, and in other recent Hollywood films, are in essence animation drawn by computers. From this it might be deduced that the gap between physical reality and peoples image of it is widening in other countries as well. That said, there is an undeniable difference between animation-like live-action and live-action-like animation. At the heart of this difference lies the Japanese peoples deeply entrenched sense of self-loathing, extending even to their own ethnic traits. The famous British science fiction writer Arthur C. Clarke once published a short story in which aliens, visiting earth after the human race is destroyed by nuclear war, use Disney movies to study the extinct human species, never realizing that the films do not represent real life. Needless to say, Clarke wrote the story as a joke. But his joke is uncannily close to the actual situation in Japan today. And the concern that situation ultimately raises is that the Japanese people, like the human race in Clarkes short story, have engineered their own extinction. There is the story told by Ide Toshiro, who co-wrote the script for the movie Aoi sanmyaku (The Green Hills of Youth, directed by Imai Tadashi), an enormous hit in 1949, during the Allied Occupation. Speaking of the movies last scene, where the high school hero Rokosuke walks along the shore with his girlfriend Terasawa Shinko shouting, I love Terasawa Shinko! I love her, I do! Ide reveals the script originally had him yelling, I hate Terasawa Shinko! I hate her, I do! Of course, this is simply an example of reverse psychology at work. Everyone knows Rokusuke is in love with Shinko. However, such rewrite kills the nuance conveyed by the original line, namely that Rokusuke is trying (rather transparently) to conceal his emotional vulnerability. How, then, did I hate you become I love you? The problem is that these days it would seem just as false to say I hate you in such a scene. How, then, is an actor to perform? This is precisely the problem Aoi Yoji confronts when he criticizes Japanese dramatists for reeling off line after self-satisfied line that actors are viscerally unable to make their own, justifying it by saying thats my style. Aoi complains with good reason that actors are forever struggling with dialogue that has little style and even less substance, and since they have to render the material in some way, they have no choice but to resort to cheap theatrics. These idea discussed in the foregoing essay appears in unusually explicit form inn the 1998 live-action sci-fi movie Andoromedia (Andromedia). This is the story of a brilliant computer scientist who loses his only daughter Mai in a traffic accident but then resurrects her in cyberspace as an artificial life form named AI — pronounced like ai, the Japanese word for love, but being also the acronym for artificial intelligence. However, whereas Mai (played by Shimabukuro Hiroko, member of the teen pop group Speed) has black hair and eyes, AIs hair and eyes are both bluish, and her skin is lighter as well. In other words, Mai has undergone a drastic ethnic bleaching upon her digital resurrection. Andromeda would have us believe that instead of going to heaven when they die, the Japanese go to virtual heaven and become Caucasians. In 1999, George Lucas, the creator of Star Wars, released the fourth movie of the series, Star Wars Episode 1: The Phantom Menace. The film uses a tremendous amount of computer-generated images, so much so that producer Rick McCallum commented that it could be regarded s the first animated movie in history that was as realistic as live action. Inasmuch as Star Wars Episode 1 is fundamentally a live-action movie, saying it could also be called an animated movie with all the realism of live action not only places animation on a par with live action but also implies that there are live-action movies without the realism of live action. By ignoring the difference between reality pretending to be cartoons and cartoons pretending to be reality, McCallums words eloquently attest to the fact that the gap between live action and animation is closing in the West as well. It would seem that Japan is not the only country where peoples vision of reality is undergoing a process of animation. Conclusively, the tendency of Japanese to reject their own history and traditions in favor of a Western ideal has undermined live-action film also by affecting the performances of Japanese screen actors. An obvious example is the inability of todays younger actors to portray Japanese of earlier eras with authenticity. A live-action version of Princess Mononoke, for example, would be impossible to produce even if one could overcome budget constraints and the difficulty of its special effects. There are simply no young actors in Japan today who can wear the traditional clothing, duel with swords, or shoot arrows on horseback as convincingly as the animated characters in Miyazakis film. Bibliography/Sources 1) Boden Sean (2001), Women and Anime: Popular Culture and its Reflection of Japanese Society 2) Ibid (2002), Resistance to the Japanese State through Popular Culture. 3) Kenji Sato (2002), Media in Asia. 4) Shimomura, Roger (1999), An American Diary. Exhibition catalogue, Japanese American National Museum.

Economic Factors Leading To Increased Crime Rate Economics Essay

Economic Factors Leading To Increased Crime Rate Economics Essay 1-Introduction Economic prosperity serves as a backbone for the overall progress of a nation. One thing is common in all developed nations- they are economically sound. When citizens of a country are freed from the worries of earning a livelihood to sustain their lives, they divert their attention to more useful things. They focus on education, improvise healthcare, develop technologies that make life easy and much more. Poor economic condition is the root cause of so many problems that exist in a society. The Beckers paper opened the door to a new field of empirical research whose main purpose was to verify and study the socioeconomic variables that affect crime. The economics of crime interacts with different and heterogeneous fields, i.e. (Sociology, Criminology, Psychology, Geography and Demography) and it is closely related to poverty, social exclusion, wage and income inequality, cultural and family background, level of education and other economic and socio-demographic factors that may affect an individuals propensity to commit crime such as age, gender and urbanization.  [1]   Crime is an activity which is against the law and the fact that the linkage between criminal activities and the socio-economic development of the society is undeniable. Crimes are associated with economic downturns and it is believed that crimes generally tend to rise during recessions and when economy is not performing well. As we know unemployment increases dramatically during bad economy which can lead to more cases of depression and increased number of crimes. The most obvious cases are drugs and alcohol. People suffering from depression often turn to drugs for refuge. Increase in drug taking leads to more drug related crimes. Drug dealing will become higher if demand is higher and when people do not have much to buy the drugs they will commit theft for money. It is also more likely that people will commit crimes, such as those involving violence, if they are intoxicated by drugs or alcohol. On the other side economic development are also dependent upon reduction in crimes. Keepi ng crime rates low now is the best guarantee that cities across the country will be able to exploit the inevitable economic recovery when it comes.  [2]   A recession leads to more debt. If people spiral into debt they are liable to become more desperate. This particularly increases crimes such as theft. People are more likely to steal so they can pay off their debts. They may also turn to other illegal ways to make money if they feel that there are no legitimate ways of earning. Violence is another area that can increase during a recession. People are more liable to get angry when times are tough, and therefore are more likely to turn violent. People may be angry with their employer who has made them redundant, or the government because they dont feel that they are being helped sufficiently, meaning they are generally more disgruntled with the world. People may also become more hostile towards each other. In particular those who are struggling may be angry towards those who are not. There has been a recent example of this in Ireland, where there were instances of violence towards some Romanian immigrants. The reason for this was attributed to some being angry that the immigrants had taken their jobs, although they were jobs local people hadnt applied for at the time of the vacancies.Family break ups are sometimes more likely to occur during a recession. Debt can cause stress within the family and lead to marriages breaking up. The breakup of parents can have an effect on children. They also show these children are 70% more likely to finish school without any qualifications. This is significant as a high percentage of crime is shown to be committed by those with a poor education.  [3]   There has not been undertaken a systematic comprehensive study for Pakistan on the above mentioned issue. Several explanations have been provided on crime in the literature but none of these provide a sound analysis of linkage between urbanization and crime. Therefore, there is dire need to fill this gap in the literature by conducting an empirical investigation on the relationship between crime and urbanization. This provides the motivation for the underlying study. More specifically, the objective of this study is to find the relationship between crimes and urbanization and some other macroeconomic factors such as unemployment, and inflation. The question is what will be the impact on crimes when large numbers of people settle down in a single city? Using time series data for Pakistan the study covers the period of 2007-2011. The results indicate that there is a positive association between urbanization and crime in Pakistan. Moreover, unemployment, inflation, and income inequality are also important determinants of crimes. Education, on the other hand, is found to have a negative effect on criminal activities. Rest of the study proceeds as follows; Section II briefly reviews the related literature on crimes and their determinants. Section III discusses the theoretical model and the econometric methodology used in the study. Detail of variables, results and interpretations are presented in Section IV. Section V concludes the study. 3-Economy of Pakistan. Economic prosperity serves as a backbone for the overall progress of a nation. One thing is common in all developed nations- they are economically sound. When citizens of a country are freed from the worries of earning a livelihood to sustain their lives, they divert their attention to more useful things. They focus on education, improvise healthcare, develop technologies that make life easy and much more. Poor economic condition is the root cause of so many problems that exist in a society. 3.1- GDP Growth. In the context of Pakistan, owing to the fact that it is a developing nation, there is no wonder that it is surrounding with a number of social and economical problems. The real issue is not the presence of these problems in society because, as stated earlier, there is no concept of an ideal society in the world. Every country in the world has its own set of socio-economic problems. The main issue is the extent and intensity of the socio-economic problems of Pakistan which have soared to alarming levels. Today, Pakistans economy remains somewhat backwards. The Gross Domestic Product (GDP) in Pakistan expanded 2.39 percent in the second quarter of 2011 over the previous quarter.  [4]   3.2 Inflation The inflation rate in Pakistan was last reported at 10.2 percent in November of 2011. From 2003 until 2010, the average inflation rate in Pakistan was 10.15 percent reaching an historical high of 25.33  [5]  percent in August of 2008 and a record low of 1.41 percent in July of 2003. Inflation rate refers to a general rise in prices measured against a standard level of purchasing power. The most well known measures of Inflation are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy. 4 Crimes in Pakistan Crime Statistics of Pakistan shows that there is a rapid increase in the number of crime reported over time like other countries of the world. It may be because of high unemployment, rising poverty, increasing inflation and urbanization.  [6]  .Despite the efforts and measures taken by the government and tall claims of law enforcement agencies for busting gangs, the crime rate in the country is increasing day by day and the crime rate is said to be touching 20.1 percent during the last one year in all over the country. the graph of vehicle theft and snatching, mobile phones snatching , fatal incidents and general crimes is on rise while police and other law enforcers are raising pleasant slogans and making non-stop claims for busting criminal gangs and rounding up individuals indulging in vehicle snatching and other crimes. If crime was a rational response to income inequality, the thinking went; government can best fight it through social services and wealth redistribution, not through arrests and incarceration.  [7]   According to data collected by online from National Police Bureau (NPB) shows that there are 59189 proclaimed offenders involved in major crimes while police has succeeded to arrest 70948 POs during year 2008 but still 59000 are operating. Amazingly, the numbers also increased from 58615 in 2008 to 59189 in 2009. According to the data, Punjab is still on top position with record number of 25991 proclaimed offenses while Sind is on second with 18373 offenders, NWFP 9514, Baluchistan 2659, Federal Capital 1777, Northern areas 446 and AJK have 429 proclaimed offenders.  [8]   4.1. Economic Factors leading to increased crime rate in Pakistan. 4.11 Poverty Lack of basic necessities is called Poverty. The people all over the world are facing serious problems of poverty. The results show that poverty also causes crime. The poor have limited income and resources to satisfy their desires and wants. In Pakistan the poverty statistics show dismal picture besides increasing income inequality. The low income means low saving potential which results in low standard of living. The low income in relation to increase prices (inflation) has crime instigating effect by reducing individuals moral threshold. Therefore, it can be concluded that people in poverty are induced to commit crime. The results of Granger causality through Toda-Yamamoto procedure affirm that poverty causes crime.  [9]   A great percentage of people in world are below the average line of poverty and such condition leads to begin cultural crime such as Suicide, Murder ETC. Almost 70% population of Pakistan live in villages. Most of them dont have access to sufficient basic needs of life. They are struggling for bread and butter. A large chunk of population lives below poverty line. They live in miserable conditions. Lack of proper food, clothing and shelter, poor sanitation, unsafe and sometimes dirty drinking water are just some of their many problems. Poverty itself gives rise to various other social problems. It deprives children of poor people to access education and healthcare. We read crime stories in newspapers that are characterized by lower orders of society who adopt illegal channels to get the financial prosperity which they cannot achieve otherwise. 4.12 Illiteracy. The illiteracy rate all over the world is increasing and the prime reason beside it is the high cost of education and lack of institutions and access. People due to lack of resources are unable to educate their childrens and so chain is developed with ever increasing illiteracy.In Pakistan Illiteracy is yet another problem. The literacy rate lingers on 56%. Over the decades, despite decreasing, illiteracy rate in Pakistan has shown an upward trend. Not only that but enrollment ratio of students at primary level has shown a decreasing trend. The facts that 50 percent of children do not complete their primary education testify this fact. Despite spending millions on it, government has failed to achieve literacy rates comparable to other countries in South Asia. 4.13- Corruption Corruption is the prime reason behind the economical unstableness. Corruption has spread into the world and has ruined the economy. Just as a weed spread in the field and affect the yield of the crop. Corruption is the mother of other problem such as unemployment which will be discussed later. According to latest report of Transparency International, Pakistans Corruption Perceptions Index declined to 2.3 in 2010 against 2.4 in 2009, and out of 178 countries, its ranking as most corrupt country jumped from 42 in 2009 to 34 in 2010.  [10]  Ã‚   Corruption in government departments is so much deep-rooted that a common concept prevails that the system doesnt let honest people to work peacefully. There is a lack of responsibility due to which wealthy people and those in power are sure that they cant be held responsible for their deeds. So they keep on looting the national treasures and find ways to legalize their black-money. Many corrupt people dont even bother to do that. 4.14- Unemployment Unemployment is a major social problem caused by poor economical system. Whole world is facing serious problems of unemployment and the reason behind it is the unstable economy. Lack of funds followed by unorganized system and lack of new projects are causing unemployment worldwide. Therefore the serving of deserving people is not used, causing loss to both country and the person. The results of the data analysis reveal that unemployment in Pakistan Granger causes crime. The reason is that unemployment rate in a country is a complementary indicator of income opportunities in the legal labour market. Therefore, when, unemployment rate increases the opportunities for earning income decreases which instigate the individuals to commit crime. The costs of committing crime go down for unemployed workers. The results of causality support this proposition that unemployment causes crime.  [11]   In Pakistan major portion of population consists of youth and a large number of young people who have the ability and are willing to work are unemployed. Currently rate of unemployment as per official resources is 7.4% but according to some private estimates the rate of unemployment is 12%.  [12]  There are many reasons of unemployment like influx of machinery that has replaced manpower, lack of new industries and defective education system. But the impacts of unemployment are more serious and dangerous. People who dont find work here migrate to other countries with better prospects. Also, people tired of making both ends meet due to unemployment indulge in evil activities and ratio of crimes increase. 4.15- Health Problem Health is another social problem caused by poor economical conditions. The cost of living is ever increasing and shortage of funds is a usual problem worldwide. There are less hospitals and medical centers and if there are any, the people are unable to afford their and their children health expenses so the health problems grow unchecked. 4.16- War on Terrorism War against terrorism is another very important reason behind the economical problem. War benefits none, someone is hurt badly and someone is destroyed completely. War is affecting the worlds economy and is causing problems like shortage of fuel, lack of funds, increase in health problem etc. When we talk about Pakistan, Due to war on terror, local people of war-ridden areas are migrating to other areas of Pakistan. Country has seen the largest migration since independence in 1947. These people have left their homes, businesses, possessions and property back home. This large influx of people and their rehabilitation is an economic burden for Pakistan. Unemployment is already common and now the question of providing employment to these migrants has also become a serious concern. This portion of population is contributing nothing worthwhile to the national income yet they have to be benefited from it. This unproductive lot of people is a growing economic problem of Pakistan. 4.17 Lack of tourism Lack of tourism is also a cause of the declining in economy. Northern areas of Pakistan have been a place of great tourist attraction. The beautiful hills, the lush green valleys, shimmering lakes and flowing waterfalls brought many a tourist from all over the world to Pakistan. This contributed to foreign exchange. Tourism Industry was one of the booming industries of Pakistan. Besides attracting foreign exchange, it also provided employment to local people. Also, tourist industry was a source of friendly relations with other countries. If the tourists are to come here in large numbers next year and feel comfortable, then streets should be cleared of the crimes now called street crimes. It is one thing to snatch mobile phones by the dozen everyday and quite another to relieve women of their jewelry. And there are bank robberies and snatching of money as the customers come out with that from banks. What is worse is resistance to such crimes which is fatal in too many cases.  [13]   Nevertheless, war on terrorism has served as a serious blow to the tourism industry of Pakistan. Local as well as foreign media has projected Pakistan as a dangerous and unsafe country. Its poor law and order situation has alarmed the tourist and thus Northern areas no more receive many tourists. 4.18 Loss in Business The poor economical system affects the business very badly. People all over the world are facing serious losses in business. In Pakistan sugar, cement and shoe industry is on its downfall while textile industry is breathing its last. Foreign investors are not ready to setup their businesses in Pakistan. They have their own set of problems which include painful and lengthy procedure of getting licenses and work permits in Pakistan, power crises, terrorism and declining exports. Multinational Companies are unwilling to open their offices and franchises in Pakistan. More than 70 Multinational Companies have already packed up their business from Pakistan. Now adding to the cost of doing business in Pakistan is the frequent wheel jam strikes.  [14]   5- Conclusion The first and the main conclusion is that there is positive association of depriving economic conditions with crimes in Pakistan. We conclude that bad economy is very important determinant of crimes in case of Pakistan. This robust analysis shows the very strong positive relation of urbanization with crimes in Pakistan. The other outcome is that in Pakistan inflation, unemployment and income inequality also the main determinants of crimes. Education also shows positive relation with crimes but this is not the right sign because we estimate model with urbanization, unemployment and with education then its sign become negative. It means that unemployment captures the sign of education so its right sign is negative. If there is more high education in Pakistan then this will reduce the crimes also. This study brings the important policy implications. In order to reduce the crime rate it is important that economic growth has to be favorable for poor class of the society. It should follow a path that directs resources to those sectors where majority of the poor exist like agriculture sector and the areas where they live (comparatively less developed areas).  [15]   The policy makers should make some planning to improve the economy and should provide more chance of employment and more capacity to absorb the rapid urbanization. After getting good education people dont have suitable job. Then those persons can adopt illegal ways to earn more money. But the special focus should be on infrastructure development because since 1964 urbanization increases. Second important implication is that government should create job opportunities in rural areas as well. This process will reduce the burden of unemployed persons in urban areas and finally reduce crimes. Moreover, the policy makers should try to keep inflation within acceptable limits so that the real income of consumers does not lose its purchasing power.

Billy Budd :: essays research papers

Billy Budd Main Characters Billy Budd- He is a bright-eyed, twenty-one year old forewoman of the British Fleet. An orphan, he is tall, athletic, friendly, innocent, and helpful. He is a loyal friend, and a fierce fighter. All the officers like him except for Claggart. Claggart- The Master-at-Arms that is envious and jealous of Billy Budd. He is out to make Billy's life miserable and is the cause of Billy Budd's execution. Captain Vere- The Honorable Edward Fairfax Vere is a bachelor of about forty. He has a nickname of "Starry Vere." Captain Vere is forced to execute Billy Budd though he knew of his innocence. But nevertheless Dansker- A veteran sailor who has taken a liking to Billy Budd. Tells Billy that Claggart doesn't like him. He is also one of the most important members of the crew. Chapters 1-7, Pages 1-27 The book starts out with the author remembering seeing a handsome man many years ago. He is reminded of this by the Handsome Sailor, Billy Budd. Billy is twenty- one, a foretopeman of the British fleet who impressed Lieutenant Ratcliffe of the H.M.S. Indomitable. Billy leaves his ship the Rights of Man, and joins the H.M.S. Indomitable. He is received well by the crew and they like him lots. An officer asks him about who his parents are and he reply's that he doesn't know. He was found in a basket hung on a man's door handle in Bristol. Billy seems to be practically perfect, but he does have one weakness. When he is strongly provoked, he is inclined to stutter, or may even become speechless. The author tells us of the uprisings in the British navy. It is later called the Great Mutiny. They sail for the Mediterranean and have an uneasiness about them as they watch for signs of trouble or discontent. Chapters 8-15, Pages 28-55 Billy had seen the gangway punishment, and was determined that he would always perform his duties well, and that his actions would never cause him to get yelled at. Though he had made that resolution, he was occasionally getting into slight trouble. He is confused by this, and goes to Dansker, who seems to have taken a liking to him. Billy asks him for his opinion, and he says that it is because Claggart doesn't like Billy. That with all evidence to the contrary, he despises him. The day after the discussion with Dansker, Billy spills soup on the freshly cleaned deck just as Claggart passes by him. Claggart notices that it was Billy that spilled the soup, and only taps him lightly with his rattan.

The History of the Roy Adaptation Model Essay -- Nursing Roy Adaptatio

The History of the Roy Adaptation Model The Roy Adaptation Model for Nursing had it’s beginning with Sister Callista Roy entered the masters program in pediatric nursing at the University of California in Los Angeles in 1964. Dorothy E. Johnson, Roy’s advisor and seminar faculty, was speaking at the time on the need to define the goal of nursing as a way of focusing the development of knowledge for practice. During Roy’s first seminar in pediatric nursing, she proposed that the goal of nursing was promoting patient adaptation. Johnson encouraged her to develop her concept of adaptation as a framework for nursing, throughout the course of her master’s program. Von Vertalanffy’s use of systems theory was a key component in the early concept of the model, as was the work of Helson. Helson defined adaptation as the process of responding positively to environmental changes, and then went on to describe three types of stimuli, those being focal, contextual, and residual. Roy made derivations of these concepts for use in describing situations of people in both health and illness. Roy’s view of the person as an adaptive system took shape from this early work, with the congnator and regulator being added as the major internal processes of the adapting person. After 17 years of work with the faculty at Mount St. Mary’s college in Los Angeles, the model became the framework for a nursing-based integrated curriculum, in March 1970, the same month that the first article on the model was published in Nursing Outlook. The four adaptive models were added as the ways in which adaptation is manifested and thus as the basis for nursing assessment. Through curriculum consultation and throughout the USA and eventually worldwide, Roy received input on the use of the model in education and practice. It is estimated that by 1987 at least 100,000 nurses had been educated in programs built around the Roy Adaptation Model. As the discipline of nursing grew in articulating it’s scientific and philosophical assumptions, Roy also articulated her assumptions. Roy’s first descriptions included systems theory and adaptation-level theory, as well as humanist values. As time progressed, Roy developed the philosophical assumptions of veritivity as a way of addressing the limitations she saw in the relativistic philosophical basis of other conceptual approaches to nursing and a limit... ... night within 1 week of HS Prozac cessation'. Another goal could be 'The client will report less anxiety within 2 weeks as evidenced by a reduction in her use of PRN Xanex'. Interventions would be carried out as applicable to the client and would be specific to the nursing goals. They are directed at promotion of adaptation. The final stage of the nursing process is evaluation. Evaluation includes the observation of change in the client’s behavior. One would determine if her goals are met or not met. One would ask the client about changes in her sleep pattern. One would evaluate any changes in behavior related to anxiety. If the behavior is not adaptive, then more assessment is needed and the interventions would be adjusted. In this manner, Roy’s model would be applied to most any clinical situation. References Roy, C. (1998) The Roy Adaptation Model 2nd Edition. New York: Prentice Hall Andrews, Heather A. (1986) The essentials of the Roy Adaptation Model. Connecticut: Appleton-Century-Croft. Roy, C. Akinsanya J. Crouch C. Fletcher L. Cox G. Price B. (1982) The Roy Adaptation Model in Action (Nursing Models in Action S.) New York: Palgrave Macmillan

Theme of Fate and Choice in Shakespeares Romeo and Juliet Essays

The Theme of Fate and Choice, in William Shakespeare's Romeo and Juliet In William Shakespeare's tragic play Romeo and Juliet, there are four quotes about fate and choice. The characters in the play choose their own fate, it happens because of their choices or actions. First, in the beginning of the play Romeo and Juliet are referred to as 'a pair of star-crossed lovers' (Romeo and Juliet, Prologue). Second, Romeo explains to Mercutio how he has a dream that if he goes to the Montague party he will die, but Romeo chooses to go to the party anyway. Third, Romeo kills Tybalt right after his marriage to Juliet. Fourth, Romeo decides to commit suicide because he hears of Juliet's death. The first quote on fate and choice is 'a pair of star crossed lovers' (Romeo and Juliet, Prologue). The above quote shows the theme of fate because the quote establishes to the audience that Romeo and Juliet are fated to die in the play. The second quote is I fear, too early, for my mind misgives Some consequence, yet hanging in the stars, Shall bitterly begin his fateful date With th...

Miller dramatise political Essay

The Crucible is written by Arthur Miller, a man who has concerns for the McCarthy government in the 1950s. Miller is wise and sees the problems for this kind of rule over America. Miller was undoubtedly against this, but at the time of the rule of McCarthyism he would have indeed â€Å"disappeared† he had to â€Å"support various causes† to keep himself alive. He expresses his view insidiously through The Crucible, morally he disputes that whether we are in the 1950s or 1600s, human nature never changes. Miller’s political mission is to alter the zealous minds of the majority of America; when Miller corresponds in to the 1600s he mentions the belief that â€Å"the spirit could leave the body, palpably and visibly†. Through various characters Miller shares his burden of the problem: By using characters as vehicles to get his views across. A Reverends role in the 1600s was an important this position was very authoritative and a direct link to God however, power is abused as he proves with his characters. Reverend Hale as a character in â€Å"The Crucible† is directly portrayed as a † tight-skinned eager eyes intellectual† suggesting that Hale is a suspicious, clever and quick witted individual. Hale believes he is on a â€Å"beloved errand† in doing God’s work and finding witches : His ignorance however can be pitied he is fed with praise, admiration and total respect from the lethargic minds of the public. He shares the same status with Reverend Parris, but is not as corrupt. Hale is proven to be very encapsulated by â€Å"pondering the invisible world† he reveals his faith strongly and that he is constantly open minded with what happens in the present world and how the supernatural could overlap it hence his job. If Hale thinks of himself with â€Å"the best minds of Europe-kings, philosophers, scientists and ecclesiasts of all churches† this spontaneously proves he is proud and authoritative which is very high esteem. The Crucible has Hale as a character of strict beliefs, if his books have † the Devil stripped of his brute disguises† and are â€Å"weighted with authority†. Obviously, when ever any character turn to the â€Å"devil† in this play we see it as superstition but to Hale, â€Å"The Devil is precise; the marks of his presence are definite as stone† elucidating that he is a zealous man. He is strong in faith but to think everything you say is true is quite dangerous this means your mind will not accept new ideas or different views: This is Millers reference to some the McCarthy government. When interrogating Tituba, constantly he gives leading questions: These forces an individual to say the same phrase in their answer, such as â€Å"When did you compact with the Devil?† this establishes a biased and manipulative answer. He is a good judge of character because he says Rebecca Nurse â€Å"looks as such a good soul should†, without delay we know he is a judicious person and quite fair and a pleasant character especially when he takes Tituba’s hand. Tituba is shocked for no white man had ever shown her kindness let alone touched her in a kind way. At this moment in time, Hale engages us with kindness and quite good assets to give us a compassionate view of him. Miller has devised this kind of character because he tries to explain to the government people like these only expands the problem. Miller probably refers to spies of the government who were responsible for the â€Å"disappearing† of the public. Through the story Hales character changes and we see some goodness for he is able to admit to his mistakes and try to correct them.  Reverend Hale and Parris share the same status in the public. Parris is clearly power hungry and somehow wants to have a life as a Reverend/ Landowner we learn more about his selfish desires later on in the play. Reverend Parris shows certain control of his household when he orders Tituba â€Å"Out of Here!† which displays the convincing power of this particular troubled individual. There seems to be concern for his daughters condition, for she has been able to wake, but as any good father should, he cares and sends for the doctor.  Parris in some sense is quite a wise man; he knows what trouble â€Å"witchcraft† brings to a community and clearly does not believe the message by Susanna who recites from the doctor â€Å"You should look to unnatural causes†; he clearly denies any legations of superstition.

Industry Analysis of Pharmaceutical Industry in Bangladesh

Industry Analysis of Pharmaceutical Industry in Bangladesh In Bangladesh the pharmaceutical sector is one of the most developed hi-tech sectors which is contributing in the country's economy. After the promulgation of Drug Control Ordinance – 1982, the development of this sector was accelerated. The professional knowledge, thoughts and innovative ideas of the pharmaceutical professionals working in this sector are the key factors for these developments. Due to recent development of this sector it is exporting medicines to global market including European market.This sector is also providing 97% of the total medicine requirement of the local market. Leading pharmaceutical companies are expanding their business with the aim to expand export market. Recently few new industries have been established with high tech equipments and professionals which will enhance the strength of this sector. Two organizations, one government (Directorate of Drug Administration) and one semi-governme nt (Pharmacy Council of Bangladesh) control pharmacy practice in Bangladesh.The Bangladesh Pharmaceutical Society is affiliated with international organizations International Pharmaceutical Fede The Bangladesh pharmaceutical market in 2004 stood at approximately US $ 560 million, which is very small when compared to the population base of the country, which currently stands at about 140 million. To put this number on a proper perspective, the total global pharmaceutical sale in 2004 was $430 billion. This is expected to grow at 8. 1% to about $530 billion in 2005.Of course the majority of the sale in 2004 was in brand products, the market segment where Bangladesh does demonstrate safety and efficacy through clinical trials, rather they would have to demonstrate that the drug products that they are filing are therapeutically equivalent to the Reference Listed Drug. One of the major barriers that pharmaceutical companies must overcome to enter the regulated market is to be fully compl iant with current Good Manufacturing Practices (cGMPs).Although many of the firms are ISO certified, it is a fact that virtually none of the pharmaceutical manufacturing plants that are currently in operation in Bangladesh fully complies with cGMP regulations as described in the US Code of Federal Register (CFR). FDA inspections of manufacturing operations are meant to evaluate a firm's cGMPs, and to verify documents, data and manufacturing records submitted in the ANDA. This inspection is a critical part of the drug application approval process.The firms must demonstrate substantial compliance to the satisfaction of the FDA investigators if they are to avoid receiving FDA observations (483's) and approval of their ANDAs. Ration and Commonwealth Pharmaceutical Association. Cross sectional Analysis Pharmaceutical industries are an important means of bringing drug information to health care professionals (1). Their primary goal is to convince clinicians to prescribe their products. Th ese ads often cite external documents in support of their claims (2).Pharmaceutical companies worldwide are heavily involved in aggressive drug promotions through advertisements. But the scientific claims made for drugs are often inaccurate and not based on proper scientific evidences (2, 3, 4). As with many countries worldwide, drug promotion and marketing make up a very large part of the activities of pharmaceutical companies in Bangladesh. It is generally believed that overstatements and misinformation are common promotional activities of drug companies in Bangladesh (5).In a study, drug promotion through industry in promotional brochures showed 50 per cent of claims were based on debatable scientific evidence, while 12 per cent were fake (6). The MediMedia Index of Medical Specialities (MIMS) Bangladesh is an index of important information of available drugs in Bangladesh, mostly used by physicians as a practical reference for daily prescribing. It is a widely available commerci al source published two times a year by MediMedia, Singapore. Beside drug information, each issue of MIMS Bangladesh contains a large number of advertisements, mostly on drugs and medical devices.The extent and types of these advertisements vary in content and size. We conducted a descriptive study to investigate the sources of drug information or claims presented in the advertisements of MIMS Bangladesh. * Materials and methods We selected a convenience sample of the MIMS Bangladesh second issue (2006) for this descriptive study. At first, advertisements on all drugs were separated on the basis of their allocation in the pages. Advertisements containing at least one medical or pharmaceutical claim were considered for evaluation.Other pharmaceutical advertisements containing only drug and company names with no medical or pharmaceutical claims were excluded. Also, some industry on herbal medicines was excluded as well. The competent industry was analyzed for the sources of informatio n provided in support of their claims. The relevant extracted data were presented in the predesigned data forms in a personal computer. Descriptive statistical analyses were performed using Microsoft Excel 2002 on Windows XP Professional. * Results This descriptive study was conducted to measure the sources of information in drug in industry Bangladesh.Advertisements containing at least one medical or pharmaceutical claim were extracted from a convenience sample of the second issue of MediMedia Index of Medical Specialities (MIMS) Bangladesh in 2006. Descriptive statistical analyses including frequency distribution and percentage were performed for data analysis. Of the total 112 industry about 82 per cent did not provide any references in support of their claims. Only 17. 9 per cent did; of which 65 per cent of the references included journal articles, which was followed by â€Å"data on file† in 25 per cent of cases.Superlative claims were commonly used without any scientif ic evidence. The study reported that medical or pharmaceutical claims made in the drug industry in MIMS Bangladesh are mostly not supported by scientific evidence. * Discussion Our study reported a high number of industries with no scientific evidence to substantiate promotional claims. Journal articles were found to be most cited sources of drug information in the advertisements, which was followed by â€Å"data on file†. Books and other sources are rarely used.Extreme claims were frequently used in most of the advertisements, which were not substantiated by proper scientific evidence. In an analytical study, 62. 1 per cent pharmaceutical industry did not cite references for their claims (7). Villanueva and colleagues showed about 44 per cent unsubstantiated claims in Spanish medical journals’ advertisements (8). The most striking report of unsubstantiated pharmaceutical advertisements was found in Germany where 94 per cent of the industry materials were reported to h ave no scientific evidence (9).A cross-sectional study reported the figure for the US to be 61 per cent (10). Drug advertisements in Russian medical journals showed quite a small number (2 per cent) with references (11). We also found quite a large number of advertisements in MIMS with no scientific basis to support their claims. Journal articles are the major source of drug information in pharmaceutical industry. In an Indian study journal articles accounted for 76 per cent of the sources, whereas books and â€Å"data on file† accounted for 15 and 2 per cent respectively (7).Another similar study from Canada showed figures of 98 per cent for journal articles, 86 per cent for books, and 20 per cent for â€Å"data on file† as references (2). This study also reports journal articles as the most cited sources of drug information. In contrast to others, the use of books as references was found insignificant in our study. We also report significant use of â€Å"data on fil e† information as major evidence of information. Besides unsubstantiated information, unnecessary adjectives were commonly used in the advertisements without proper scientific basis.Major players of the world pharmaceutical industry The pharmaceutical industry is characterized by a high level of concentration with fifteen multinational companies dominating the industry. Table 1. 1 contains information about these major pharmaceutical companies that are sorted in the order of their 2004 revenues from the sales of pharmaceutical products. Numbers provided in this table include sales of all subsidiaries and affiliated companies that are consolidated in annual reports of the corresponding companies.In order to facilitate a comparison of different companies revenues of all of them are shown in US dollars; financial data of the companies with headquarters outside of the U. S. was converted to US dollars using average 2004 . Table 1. 2. Company| Revenue of pharmaceutical segment, (tk . 000)| Total sales, (Tk. 000)| Beximco Pharmaceutical Ltd| 46,133| 52,516| Square Pharmaceutical Ltd| 31,434| 37,324| Aristo Pharmaceutical Ltd| 22,190| 47,348| Glaxco Pharmaceutical Ltd| 21,494| 22,939| Opsonim Pharmaceutical Ltd| 21,426| 21,426| Acme Pharmaceutical Ltd| 18,497| 28,247| ACI Pharmaceutical Ltd| 17,861| 18,711|Key Challenges The main challenges for drug companies come from four areas. First, they must deal with competition from within and without. Second, they must manage within a world of price controls that dictate a wide range of prices from place to place. Third, companies must be constantly on guard for patent violations and seek legal protection in new and growing global markets. Finally, they must manage their product pipelines so that patent expirations do not leave them without protection for their investment. * Competition The pharmaceutical industry currently represents a highly competitive environment.One can distinguish three layers of competition for à ¢â‚¬Å"Big Pharma† companies: First, obviously, â€Å"Big Pharma† companies compete among themselves. Although not all leading pharmaceutical companies cover all segments of pharmaceutical market, almost all of them are active in R;D and production of drugs in the segments with the highest potential – such as treatment of infectious, cardiovascular, psychiatric or oncology diseases. Secondly, â€Å"Big Pharma† companies experience significant profit losses due to competition from the generic drug manufacturers.Opposite to the research-oriented pharmaceutical companies, which invest significant financial resources and time to develop new medicines, generic drug manufacturers spend minimum resources on R;D, and start manufacturing already developed by other companies drugs after their patent expiration. Because generic drug manufacturers do not have to recoup high R;D costs, prices of their products are usually much lower then those of major pharmaceutical co mpanies; as the result, after patent expiration, generic drugs manufacturers capture significant market share, dramatically decreasing revenues of the â€Å"Big Pharma† companies.Finally, the whole pharmaceutical industry competes with other health care industries. In this case, pharmaceutical companies should not only demonstrate high efficiency of their products, but also provide obvious proof of cost advantages in comparison with other forms of care. * Protection of patents Generic drugs manufacturers represent a significant threat to research-based pharmaceutical companies. Moreover, generic drugs manufacturers sometimes start production of patent-protected drug analogues even before a patent expires. Although research-oriented companies in many cases are able to rotect their patents, they do suffer from lost revenues. Therefore, protection of patents is one of the key conditions necessary for further development of the pharmaceutical industry. At the same time, non-effic ient legislation that does not provide the necessary level of patent protection is one of the factors that hamper expansion of â€Å"Big Pharma† companies to the developing countries. * Drugs portfolio management Drug portfolio management is one of the most important determinants of long-term prosperity of research-oriented pharmaceutical companies.First, it takes an extremely long time to develop a new drug, and only a very small portion of all projects is successful. Projects that the company starts today will determine its financial performance 10-15 years later. Therefore, careful planning of R;D projects is very important for the long-term stability of the company. Second, insofar as patents keep exclusivity of drugs only during a limited time, and soon after the expiration of the patent the sales of the drug sharply go down, the company has to carefully monitor its patent expiration dates, and insure that new products become available by that date.Definitely, planning e rrors or rapidly changing demand in the industry can be corrected by acquisition of smaller research companies or patents from competitors, but in any of these cases the company will have to pay a premium price, thus reducing its profitability. Bangladesh in the World Market for Pharmaceuticals In 2004 Bangladesh’s Pharmaceutical exports reached $971 million. That made it Indiana’s sixth largest export industry – accounting for about 5% of all Indiana exports.Between 2002 and 2004, BANGLDESHI Pharmaceutical exports increased by $425 million – an increase of 78%. The key components are described as medications, hormones, and antibiotics. Bangladesh exports most of these products to Europe – the leading destinations in 2004 were France, Spain, the UK, and Germany. Those four countries took almost 59% of bangladeshi’s Pharmaceutical exports that year. The remaining top 10 destinations were Canada, the Netherlands, Switzerland, Ireland, Mexico, and Austria.Indiana’s Pharmaceutical export profile is very similar to the nations – the United States and Indiana are almost totally focused on NAFTA partners and Europe. Who buys the world’s Pharmaceutical products? The United Nation’s Statistics Division publishes annual values for Pharmaceutical imports and exports for most countries. The key world importers include the United States and Europe. Below we report statistics for 2003 for these two areas as well as for other key areas and countries. There are several things to note from this table.First, the United States is the largest importer of Pharmaceutical products followed by EU15 (the fifteen countries that comprised the European Union before the recent expansion to 25 countries) and Switzerland. Japan and Canada are important destinations but each import less than Switzerland. China imported less than $2 billion in 2003 but remains an interesting destination because of its remarkable growth and development. Table 1. 3. Pharmaceutical industry – international trade Importer| 2003 imports, thousands| Exporter|USA| 31,739,624| 79% from Europe; 13% from Asia; 7% from North America| EU15| 28,351,731| 52% from North American; 35% from Europe| Switzerland| 9,718,628| 88% from Europe; 10% from North American| Japan| 6,193,127| 69% from Europe; 23% from North America| Canada| 6,064,628| 49% from Europe; 48% from North America| China| 1,705,632| 65% from Europe;8% from North America| Table note: These data refer to Standard Industrial Trade Classification (SITC Rev: 3) data for codes 54. 1 and 54. 2. These two codes cover what is traditionally thought of as Pharmaceutical products.EU15 refers to the 15 members of the European Union – those that were members before the increase to 25 members. Europe refers to a very large and wide definition of countries in western and east/central Europe. Switzerland is part of Europe but is not a member of the EU. The data is in thous ands of dollars. The next table shows the largest changes that occurred in Pharmaceutical imports between 1995 and 2003. The largest change was the almost $22 billion increase of imports to the United States from Europe. The United States also received large inflows of Pharmaceutical products from Asia ($3. 5 billion) and North America ($1. billion). EU15 also shows up three times in the table with a total of about $28 billion – from N. America, Europe, and Asia. Canada has two entries showing increased Pharmaceutical imports from Europe ($2. 5 billion) and the N. America ($2 billion). Switzerland, Japan, and China’s largest imports came from Europe. Table 1. 4. Changes in pharmaceutical imports between 1995 and 2003, dollar change Imports to| Imports from| Dollar Change In thousands, 1995 to 2003| USA| Europe| 21,968,851| EU15| N. America| 14,786,491| EU15| Europe| 10,041,165| Switzerland| Europe| 6,853,882| USA| Asia| 3,518,057|EU15| Asia| 3,024,816| Canada| Europe| 2,465,464| Canada| N. America| 1,969,847| USA| N. America| 1,904,983| Japan| Europe| 1,601,565| China| Europe| 859,540| While the above table shows where most of the goods are going, the next one features the hot flows – those that have grown the fastest between 1995 and 2003. Notice that this list is a lot different from the one above. Japanese imports from Africa showed huge percentage growth, as did China’s imports from Central ; South America and Africa. The United States is listed four times with triple digit import growth from Europe, North America, Asia, and Oceana.It is interesting that Europe15 is not on this list. Switzerland is mentioned once with rapidly growing imports from Asia. A look at the second column is instructive. Africa shows up three times – suggesting that Africa is becoming a more important exporter of Pharmaceutical products. Africa has had good luck selling to Japan, China, and Canada. Asia is also included with strong exports  œ primarily to the U. S. and Switzerland. Table 1. 5. Changes in pharmaceutical imports between 1995 and 2003, percent change Importer| Exporter| Percent Change, 1995 to 2003| Japan| Africa| 270,477| China| C;S America| 16,370|China| Africa| 11,256| Canada| Africa| 1,036| USA| Europe| 487| USA| N. America| 431| USA| Asia| 395| China| N. America| 386| Switzerland| Asia| 382| USA| Oceana| 367| The Business Cycle and Industry Sectors Economic trends can and do affect industry performance. By identifying and monitoring key assumptions and variables, we can monitor the economy and gauge the implications of new information on our economic outlook and industry analysis. Cyclical changes in the economy arise from the ups and downs of the business cycle. Structure changes occur when the economy undergoes a major change in organization or how it functions.Rotation strategy is when one switches from one industry group to another over the course of a business cycle. Economic Variables and Diffe rent Industries are:- * Inflation: Higher inflation causes a negative impact for pharmaceutical industries because it increases the market interest rate and uncertainty of future costs. It reduces the purchasing power of the buyers. * Interest Rates: The higher bank interest rate causes a adverse effect on the borrowing of the pharmaceutical industry. * International Economics: To some extend the ups and downs of international economics effects the pharmaceutical industry. Consumer Sentiment: Now a day’s consumer sentiments also make a great impact on the pharmaceutical industry. As a result they introducing herbal products to meet the huge demand Environmental Analysis (PEST) Technological advancements, tighter regulatory-compliance overheads, rafts of patent expiries and volatile investor confidence have made the modern pharmaceutical industry an increasingly tough and competitive environment. Below is an analysis of the structure of the pharmaceutical industry using the PE ST (political, economic, social and technological) model? Economic Value Added:In the decade to 2003 the pharmaceutical industry witnessed high value mergers and acquisitions7. With a projected stock value growth rate of 10. 5% (2003-2010) and Health Care growth rate of 12. 5% (2003-2010), the audited value of the global pharmaceutical market is estimated to reach a huge 500 billion dollars by 2004. Only information technology has a higher expected growth rate of 12. 6%. Majority of pharmaceutical sales originate in the US, EU and Japanese markets. Nine geographic markets account for over 80% of global pharmaceutical sales these are, US, Japan, France, Germany, UK, Italy, Canada, Brazil and Spain.Of these markets, the US is the fastest growing market and since 1995 it has accounted for close to 60% of global sales. In 2000 alone the US market grew by 16% to $133 billion dollars making it a key strategic market for pharmaceuticals. Structural Economic Changes and Alternative Industri es: Structural Economic Changes and Alternative Industries is influenced by the factors: * Demographics * Lifestyles * Technology * Politics and regulations But our pharmaceutical Industry of Bangladesh is only affected by demographic and technological forces, which we discuss in the below. Demographic Growing health awareness among the population has also had an influence on market expansion. Unlike in other markets, the Bangladesh pharmaceutical distribution network tends to be more retail-orientated and the bulk of distribution is done by the companies themselves. However, despite the country possessing huge manufacturing capabilities which supply 96% of domestic need, the complete lack of R;D in domestic companies could cause the market to stagnate, especially if companies have not evolved by the time the TRIPS agreement comes into effect.Multinationals should view Bangladesh as a possible manufacturing base. The balance of pharmaceutical trade remains negative, but it is diffic ult to project how the balance will change throughout the forecast period. * Technology While a particular new technology may either increase or decrease health care spending, researchers generally agree that, taken together, advances in medical technology have contributed to rising overall Bangladesh health care spending. Whether a particular new technology will increase or reduce total health expenditures depends on several factors.One is its impact on the cost of treating an individual patient. Does the new technology supplement existing treatment, or is it a full or partial substitute for current approaches? Do these changes result in higher or lower health spending for each patient treated? In looking at the impact on cost per patient, consideration needs to be given to whether the direct costs of the new technology include any effect on the use or cost of other health care services such as hospital days or physician office visits.It is not possible to directly measure the impa ct of new medical technology on total health care spending; innovation in the health care sector occurs continuously, and the impacts of different changes interrelate. The size of the health sector (16% of gross domestic product in 2005) and its diversity (thousands of procedures, products, and interventions) also render direct measurement impractical. Economists have used indirect approaches to try to estimate the impact of new technology on the cost of health care.    In an often-cited article, New house estimates the impact of medical technology on health care spending by first estimating the impact of factors that can reasonably be accounted for (e. g. , spread of insurance, increasing per capita income, aging of the population, supplier-induced demand, low medical sector productivity gains). The continuing flow of new medical technology results from other factors including the desire by professionals to find better ways to treat their patients and the level of investment in b asic science and research.Direct providers of care may incorporate new technology because they want to improve the care they offer their patients, but they also may feel the need to offer the â€Å"latest and best† as they compete with other providers for patients. Health care professionals, like people in other occupations, also may be motivated by professional goals (e. g. , peer recognition, tenure, prestige) to find ways to improve practice. Commercial interests (such as pharmaceutical companies and medical device makers) are willing to invest large amounts in research and evelopment because they have found strong consumer interest in, and financial reimbursement for, many of the new products they produce. In addition, public and private investments in basic science research lead directly and indirectly to advancements in medical practice; these investments in basic science are not necessarily motivated by an interest in creating new products but by the desire to increase human understanding. Industry Life Cycle Life cycle models are not just a phenomenon of the life sciences. Industries experience a similar cycle of life.Just as a person is born, grows, matures, and eventually experiences decline and ultimately death, so too do industries. The stages are the same for all industries, yet industries cycle through the stages in various lengths of time. Even within the same industry, various firms may be at different life cycle stages. Strategies of a firm as well as of competitors vary depending on the stage of the life cycle. Some industries even find new uses for declining products, thus extending the life cycle. Others send products abroad in hopes of extending their life. The growth of an industry's sales over time is used to chart the life cycle.The distinct stages of an industry life cycle are: introduction, growth, maturity, and decline. Sales typically begin slowly at the introduction phase, and then take off rapidly during the growth phase. A fter leveling out at maturity, sales then begin a gradual decline. In contrast, profits generally continue to increase throughout the life cycle, as companies in an industry take advantage of expertise and economies of scale and scope to reduce unit costs over time. Industry life cycle has five stages : * Pioneering development * Rapidly accelerating industry growth Mature industry growth * Stabilization and market maturity * Deceleration of growth and decline Our pharmaceutical industry in Bangladesh is in Rapidly Accelerating Industry Growth Stage in industry life cycle. * Rapidly accelerating industry growth This stage starts when the product of the industry is accepted by the market. Further demand increases rapidly. The number of firms in the industry is limited at this stage and hence the firms can experience substantial backlogs of orders. Hence prices can be increased or discounts can be decreased and therefore profit margins are high.The capacity utilization goes up and eve n though productive capacity is increased, sales increase more rapidly. Hence high profit margins occur simultaneously with high sales growth. Profits explode. Sales growth can be high up to even 50 percent year and profits can grow over 100 percent a year as a result of the low earnings base and high profit margins and increasing efficiency of the firms. The growth potential of pharmaceutical industry is enormous. As urban population is increasing and people are getting educated, they are now more concerned about healthcare.So the demands of medical products are rising. In Bangladesh unhygienic conditions and poor health maintenance plans provide vast scope for the pharmaceutical firms to sell their products. On the other hand, the constant natural disasters provide opportunities to pharmaceutical companies to boost its sales. The industry is growing the protection of national Drug Policy 1982. But after the GATT regulation, changes are bound to take place. Furthermore, the trend & growth of this industry tends to be positive as the demand of medicines is rising, which have mentioned earlier.Analysis of Industry Competition Competition and Expected Industry Returns, Porter’s concept of competitive strategy is described as the search by a firm for a favorable competitive position in an industry * To create a profitable competitive strategy, a firm must first examine the basic competitive structure of its industry * The potential profitability of a firm is heavily influenced by the profitability of its industry * Porter's five forces Porter's five forces is a framework for the industry analysis and business strategy development developed by Michael E.Porter of Harvard Business School in 1979. It uses concepts developing, Industrial Organization (IO) economics to derive five forces that determine the competitive intensity and therefore attractiveness of a market. Attractiveness in this context refers to the overall industry profitability. An â€Å"unattr active† industry is one where the combination of forces acts to drive down overall profitability. A very unattractive industry would be one approaching â€Å"pure competition†. For our pharmaceutical Industry Competition we use porters five forces model in the below: Threats of new entrants is low because- Capital requirement is high. * Hard to have access to the distribution channels of excising companies. Bargaining power of buyer is low because- * Undifferentiated or standard product offering competitive price * No potential threats of backward integration by buyer * Customers are fewer prices sensitive. Bargaining power of supplier is high because- * There is little number of suppliers who regulate the market according to their own association. * Lack of substitute product (raw materials) * Credible threats of forward integration by suppliers Threats of substitute are low because- There is minimum substitute product such as herbal products. Industry rivalry is high because- * The market is large. * Industry is growing at a slow rate and yet to attain its best so supply gap is evident. * Fixed costs are high which make it hard for exiting from the market. * Strong capital based and technologically company is in operation and grabbing major market shares. Growth & Trends: The growth potential of pharmaceutical industry is enormous. As urban population is increasing and people are getting educated, they are now more concerned about healthcare.So the demands of medical products are rising. In Bangladesh unhygienic conditions and poor health maintenance plans provide vast scope for the pharmaceutical firms to sell their products. On the other hand, the constant natural disasters provide opportunities to pharmaceutical companies to boost its sales. The industry is growing the protection of national Drug Policy 1982. But after the GATT regulation, changes are bound to take place. Furthermore, the trend & growth of this industry tends to be positive a s the demand of medicines is rising, which have mentioned earlier.Company Analysis Libara Infution Ltd Libra Infusions Ltd – At a Glance Board of Directors: †¢Ã‚  Begum Shamsun Nahar Ahsanullah – Chairperson | | †¢Ã‚  Dr. Roushon Alam – Director & Founder | | †¢ Begum Ayesha Alam – Managing Director| | †¢ Saira Mariam Alam – Director| | †¢ Monami Alam – Director| | Company Secretary: †¢Ã‚  M. A. Rashid | | Auditors: M/s. Muhammad Shaheeddullah & Co. | | Chartered Accountants | | 19 Bangabandhu Avenue | | Dhaka House (2nd Floor)| | Dhaka-1000. | | Bankers: Agrani Bank | Amin Court Branch | 62-63 Motijheel C/A, | Company ProfileThere was always a scarcity of Intravenous (I. V. ) Fluid in the market as Govt. could not manufacture enough to fulfill the local demand. Before 1985, the major portion of the local demand was being covered by the imported I. V. Fluid. To overcome this situation LIBRA made its debut in Feb ruary 1985 under the strong leadership of Dr. Roushon Alam with a view to provide quality products. The company is situated on approx. 2 acres of land at Mirpur I/E, Dhaka . The factory is housed in a centrally Air Conditioning modern building having all necessary facilities. I. V.Fluid, the product of the company is a life saving and a basic medical necessity used in all medical situations involving diarrhoeal disease, surgical operation, loss of blood, weakness and hospitalization in general. LIBRA's I. V. Fluid being a quality product has a tremendous demand in the market. The technology has been supplied by M/S Vifor S. A. , Geneva , Switzerland under a Technical Collaboration Agreement. In addition, implementation of ISO 9001 Quality Management System has ensured customer satisfaction by guaranteeing good design, reliable product quality, safe performance, prompt delivery and efficient service.LIBRA employed a team of highly qualified and motivated staff. Since LIBRA came first in this segment of pharmaceuticals, the company had to struggle with a lot of adverse situations. But today, LIBRA is known to the medical profession and general public as the best and largest manufacturer of I. V. Fluid in Bangladesh. Quality Policy | We at â€Å"LIBRA† are committed to provide total customer satisfaction for all products formulated ; processed. This is achieved by: †¢ Implementing defined quality management system Continuous up gradation of technology †¢ Creating quality awareness ;active participation of   Ã‚  Ã‚  employees at all levels | | Manufacturing Technology | Libra always uses modern technology for manufacturing I. V. Fluid a life saving product. The production is based on imported raw ; packing materials our Quality Assurance System ensure full quality control testing in accordance with product requirements Technical support including LAL test, validation and stability studies are available as a part of our commitment to quality. | | Human Resource |Libra has a experienced dedicated staff members which included pharmacists, chemists, doctors, engineers, accountants and other professionals. Libra’s success depends on sincerity, hard labor and team efforts of employees at all levels. Libra invests in personal and professional development of its employees through training and workshop. | Vision  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   All of our activities should benefit the society to take health care. We strongly believe that in the final analysis we are accountable to our employees, our customers, citizen of our country and shareholders. | Mission To attain Vision will devote its resources to m manufacture world class products using modern technology. | | Commitment * Committed manufacturing world class Quality Products using modern technology. * Committed maintaining Quality Management System (QMS) through documentation of all ac tivities of the Company complying with International standard require ment of ISO 9001 through developing employees at all levels by regular training participation. *   Committed customer satisfaction through service upto their level of expectation. Libra reviews activities and performance of its operation to ensure compliance with commitment| SWOT Analysis: This section identifies the main strengths, weaknesses, opportunities, and threats associated with the Libra Pharmaceutical Company LTD. It involves monitoring the internal (strengths ; weaknesses) and external (opportunities ; threats) marketing environment. Strength The main strengths of Libra Pharmaceutical Co. LTD are: * Higher quality product with lower price. * Focused on the Customer’s satisfaction. * To meet the required specification it maintain the standard and quality. Using modern technology * To enrich the systems they appoint a huge experienced, motivated professionals * It is already been recognized by WH O and ISO 9001 certified as world class manufacturer of I. V. fluid. * To increased sales thy introduced new product every year. * To ensure high quality control facilities they has installed state of art equipment. * The company continuously focusing on expanding sales networks to meet the demand. Weakness The main weaknesses of Libra Pharmaceutical Co. LTD are: * High risk of facing losses, in case of purchasing raw materials in advance, as price is unstable. They can not increase the selling price as the cost of product increased. * Supplier has ultimate control over the material market * Government initiative or incentive in this sector is very insufficient. * The increase of bank interest rate. * The cot of fuel and oil, promotional expenses, transportation expenses are increasing day by day. * Law and order restrictions are quit alarming. Broad environmental analysis Competitive analysis Internal organizational analysis Strengths ; weaknesses of an organization Opportunities f or ; to an organization Need for strategic actionOrganizational long-range objectives Opportunities: The main opportunities faced by Libra Pharmaceutical Co. LTD are: * Company can introduced new product line or improved quality product. * Available customers. * Demand is huge and increasing day by day. * Profit percentage is high. * Company can invest their rest of retain earnings in other projects. * International trading scope is increasing specially in Middle East. * Expand their activities to the root level of the county Threats: The main threats faced by Libra Pharmaceutical Co. LTD are: * Change in technology (i. e. quipments, sharing and cutting machine change). * Threat of new entrance. * Political unrest. * Labor problem * Increasing Tax rate * Increasing cost of product * Increasing bank interest rate * Lower competitive power Market Condition Libra Infusions Ltd Price Change % Change Open High Low Business Segment LIBRAINFU Financial Performance Year| Earning per share | Net Asset Value Per Share   | Net Profit After Tax (mn)  | Price Earning Ratio   | % Dividend   | % Dividend Yield   | 2009| 34. 93  | 689. 13  | 4. 37  | 45. 81  | 15. 00  | 0. 94| 2008| 51. 25  | 671. 70  | 6. 41  | 28. 24  | 17. 50  | 1. 1| 2007| 48. 14  | 637. 95  | 6. 02  | 11. 00  | 17. 50  | 3. 3| 2006| 47. 36  | 589. 81  | 5. 93  | 10. 20  | 17. 50  | 4| 2005| 45. 46  | 559. 94  | 5. 69  | 12. 34  | 17. 50  | 3. 12| 2004| 43. 30  | 531. 99  | 5. 42  | 14. 81  | 17. 50  | 2. 73| 2003| 36. 33  | 550. 38  | 4. 55  | 8. 08  | 15. 00  | 5. 11| 2002| 30. 36  | 530. 55  | 3. 80  | 11. 20  | 15. 00  | 4. 41| 2001| 21. 82  | 515. 18  | . 73  | 10. 08  | 12. 50  | 5. 68| 2000| 18. 42  | 510. 86  | 2. 30  | 10. 59  | 5. 00  | 2. 56| Analysis of Financial Statement Of Libra Infusion Common-Size Statement Analysis: Common-Size Statement of Balance SheetLIBRA INFUSIONS LTD partic ular| 2007(tk in %)| 2008(tk in %)| 2009(tk in %)| Assets| Non-current assets| 62. 87| 64. 12| 66. 66| Property, plant and equipmentAt cost/ Revaluation| 96. 64| 97. 43| 91. 78| Accumulated deprecation| (33. 77)| (33. 31)| (25. 12)| Current Assets| 37. 14| 35. 89| 33. 34| Inventories| 18. 57| 17. 59| 19. 17| Account Receivables| 7. 50| 5. 68| 7. 06| Loans , Advance and Deposits| 9. 46| 10. 51| 5. 31| Cash and Cash Equivalents| 1. 61| 2. 11| 1. 80| Total Assets| 100%| 100%| 100%| Share holders Equity| 27. 97| 27. 50| 20. 31| Share Capital| 4. 38| 4. 19| 2. 95|General Revenue| -| 1. 31| 0. 94| Revaluation Reserve| 13. 03| 12. 17| 8. 76| Retain Earnings| 10. 55| 9. 93| 7. 66| Non-Current Liabilities| 26. 40| 29. 75| 31. 37| Term Borrowings| 11. 68| 14. 73| 20. 96| Due to-directors| 7. 55| 7. 97| 5. 03| Other Liabilities| 7. 17| 7. 05| 5. 38| Current Liabilities| 45. 63| 42. 74| 48. 32| Shot term Borrowing| 32. 62| 27. 53| 37. 65| Creditors and others payable| 9. 90| 11. 51| 8. 97| Taxa tion Payable| 3. 11| 3. 70| 1. 70| Total Liabilities and Shareholders Equity| 100%| 100%| 100%| LIBRA INFUSIONS LTD Common-Size Statement of Profit and Loss AccountParticular| 2007| 2008| 2009| Net Sales RevenueCost of Goods SoldGross ProfitOperating ExpensesAdministrative Exp. Selling, Marketing ; Distribution ExpProfit from OperationFinance Cost. NP before Contribution to WPPFWelfare fundsProfit Before TaxProvision for Income TaxNP After Income Tax| 100%(64. 91%)35. 08%(26. 96%) (3. 64%)(23. 32%)| 8. 12%(5. 22%)2. 90%(0. 13%)2. 77%(0. 82%)1. 95%| 100%(67. 01%)32. 99%(26. 15%) (3. 05%)(23. 10%)| 6. 84%(4. 59%)2. 25%(0. 11%)2. 14%(0. 58%)1. 56%| 100%(63. 64%)36. 36%(28. 75%) (3. 38%)(25. 37%)| 7. 61%(5. 88%)1. 73%(0. 09%)1. 64%(0. 45%)1. 19%| Ratio Analysis:A: Internal Liquidity Ratios| Liquidity refers to the ability of a firm to meet its short-term financial obligations when and as they fall due. The main concern of liquidity ratio is to measure the ability of the firms to meet th eir short-term maturing obligations. Failure to do this will result in the total failure of the business, as it would be forced into liquidation. Current Ratio The Current Ratio expresses the relationship between the firm’s current assets and its current liabilities. Current assets normally include cash, marketable securities, accounts receivable and inventories.Current liabilities consist of accounts payable, short term notes payable, short-term loans, current maturities of long term debt, accrued income taxes and other accrued expenses (wages). 2007| 2008| 2009| .79| 1. 50| 1. 41| Comments: 2007: The current ratio of . 79:1 means that for every taka of current liabilities Libra Infusions Ltd. has . 79 taka of current assets, which is unacceptable comparing to the standard 2:1. 2008: The current ratio of 1. 50:1 means that for every taka of current liabilities Libra Infusions Ltd. has 1. 50 taka of current assets, which is unacceptable comparing to the standard 2:1. 009: The current ratio of 1. 41:1 means that for every taka of current liabilities Libra Infusions Ltd. has 1. 41 taka of current assets, which is unacceptable comparing to the standard 2:1. Quick Ratio/ Acid Test Ratio Measures assets that are quickly converted into cash and they are compared with current liabilities. This ratio realizes that some of current assets are not easily convertible to cash e. g. inventories. The quick ratio, also referred to as acid test ratio, examines the ability of the business to cover its short-term obligations from its â€Å"quick† assets only (i. . it ignores stock). The quick ratio is calculated as follows Ouicke Ratio=(Cash+Marketable securites+Recivables)/ Current Libilities 2007| 2008| 2009| .20| . 18| . 18| Comment: 2007: The quick ratio in 2007 of Libra Infusions was . 20:1 which is unacceptable for the company o comparing the standard of 1:1 2008: The quick ratio in 2007 of Libra Infusions was . 18:1 which is unacceptable for the company o co mparing the standard of 1:1 2009: The quick ratio in 2007 of Libra Infusions was . 18:1 which is unacceptable for the company o comparing the standard of 1:1 Cash ratio:The most conservative liquidity ratio is the cash ratio, which related the firm’s cash and short-term marketable securities to its current liabilities as follows: Ouicke Ratio=(Cash+Marketable securites)/ Current Libilities 2007| 2008| 2009| .035| . 049| . 037| Receivable Turnover: This ratio shows the number of times accounts receivable are paid and reestablished during the accounting period. The higher the turnover, the faster the business is collecting its receivables and the more cash the client generally has on hand. The formula is: Net Annual SalesAccounts Receivable 2007| 2008| 2009| 16. 86| 21. 86| 15. 2| Average Receivable Collection Period The average collection period measures the quality of debtors since it indicates the speed of their collection. The shorter the average collection period, the bett er the quality of debtors, as a short collection period implies the prompt payment by debtors. The average collection period should be compared against the firm’s credit terms and policy to judge its credit and collection efficiency. An excessively long collection period implies a very liberal and inefficient credit and collection performance. The delay in collection of cash impairs the firm’s liquidity.On the other hand, too low a collection period is not necessarily favorable, rather it may indicate a very restrictive credit and collection policy which may curtail sales and hence adversely affect profit. The calculation is follow: Average Receivable Collection Period = (365/ average account receivable turnover) 2007| 2008| 2009| 21. 65| 17. 10| 23. 51| Comment: 2007: Average collection period of Libra Infusions Ltd. in 2007 was 21. 65 days. That means the company had to wait 21. 65 days after making a sales before it receives cash. This is comparatively lower than th e industry average of 45. 5 days. That means the customers are paying their bill in time. 2008: Average collection period of Libra Infusions Ltd. in 2007 was 17. 10 days. That means the company had to wait 17. 10 days after making a sales before it receives cash. This is comparatively lower than the industry average of 45. 45 days. That means the customers are paying their bill in time. 2009: Average collection period of Libra Infusions Ltd. in 2007 was 23. 51 days. That means the company had to wait 23. 51 days after making a sales before it receives cash. This is comparatively lower than the industry average of 45. 5 days. That means the customers are paying their bill in time. Inventory Turnover This ratio measures the stock in relation to turnover in order to determine how often the stock turns over in the business. It indicates the efficiency of the firm in selling its product. It is calculated by dividing the cost of goods sold by the average inventory. The ratio shows a relat ively high stock turnover which would seem to suggest that the business deals in fast moving consumer goods. 2007| 2008| 2009| 5. 65| 5. 16| 2. 87| Comment: 2007: Inventory turnover ratio of Libra Infusions Ltd. in 2007 was 5. 5 which are comparatively higher than the industry average 1. 26. That mean the company have maintained liquidity of its inventory and I is productive. 2008: Inventory turnover ratio of Libra Infusions Ltd. in 2007 was 5. 16 which are comparatively higher than the industry average 1. 26. That mean the company have maintained liquidity of its inventory and I is productive. 2009: Inventory turnover ratio of Libra Infusions Ltd. in 2007 was 2. 87 which are comparatively higher than the industry average 1. 26. That mean the company have maintained liquidity of its inventory and I is productive.Cash Conversion Cycle The Cash Conversion Cycle (CCC) measures how long a firm will be deprived of cash if it increases its investment in resources in order to expand custom er sales. It is thus a measure of the liquidity risk entailed by growth. However, shortening the CCC creates its own risks: while a firm could even achieve a negative CCC by collecting from customers before paying suppliers, a policy of strict collections and lax payments is not always sustainable. Payable Turnover= COGS/Average Trade Payable 2007| 2008| 2009| 12. 91| 14. 99| 10. 03| Payable Payment periodA payment period to average inventory period above 1:1 (100%) indicates that the inventory is sold before it is paid for (inventory does not need to be financed). the average inventory period is also known as the inventory holding period. . Payable payment period = 365 day / payable turnover 2007| 2008| 2009| 28. 27| 24. 35| 36. 16| B. Evaluating operational Performance| The ratios that indicate how well the management is operating the business can be divided into tow subcategories: * Operation Efficiency Ratio * Operation Profitability Ratio These two ratios are discussed in the b elow:- * Operation Efficiency Ratio Total Assets TurnoverAsset turnover is the relationship between sales and assets:- * The firm should manage its assets efficiently to maximize sales. * The total asset turnover indicates the efficiency with which the firm uses all its assets to generate sales. * It is calculated by dividing the firm’s sales by its total assets. * Generally, the higher the firm’s total asset turnover, the more efficiently its assets have been utilized. Total asset turnover = Net Sales / Total assets 2007| 2008| 2009| 1. 17| 1. 39| 1. 01| Comments 2007: Total assets turnover ratio of Libra Infusions Ld. In 2007 was 1. 17, which is higher than the industry average of 1. 5. That means the company is generating sufficient level of business. 2008: Total assets turnover ratio of Libra Infusions Ld. In 2007 was 1. 39, which is higher than the industry average of 1. 15. That means the company is generating sufficient level of business. 2009: Total assets turn over ratio of Libra Infusions Ld. In 2007 was 1. 01, which is lower than the industry average of 1. 15. That means the company is not generating sufficient level of business. Fixed Asset Turnover The fixed assets turnover ratio measures the efficiency with which the firm has been using its fixed assets to generate sales.Generally, high fixed assets turnovers are preferred since they indicate a better efficiency in fixed assets utilization. It is calculated by dividing the firm’s sales by its net fixed assets as follows: Fixed asset turnover = Net Sales / Average Net fixed asset 2007| 2008| 2009| 3. 90| 4. 92| 4. 26| Comments: 2007: Fixed assets turnover ratio f Libra Infusions Ltd. in 2007 was 3. 90, which is higher than the industry average of 3. 06. That means the company is generating sufficient level of business. 2008: Fixed assets turnover ratio f Libra Infusions Ltd. in 2007 was 4. 2, which is higher than the industry average of 3. 06. That means the company is generati ng sufficient level of business. 2009: Fixed assets turnover ratio f Libra Infusions Ltd. in 2007 was 4. 26, which is higher than the industry average of 3. 06. That means the company is generating sufficient level of business. Equity Turnover Equity Turnover is a firm's annual sales divided by its average stockholders' equity. Equity turnover is used to calculate the rate of return on common equity, and is a measure of how well a firm uses its stockholders' equity to generate revenue.The higher the ratio is, the more efficiently a firm is using its capital. Also known as capital turnover. Equity Turnover = Annual Sales / Average Equity 2007| 2008| 2009| 4. 05| 5. 05| 4. 31| Comments: 2007: Equity turnover ratio of Libra Infusions Ltd. In 2007 was 4. 05. Which is lower than the industry average of 6. 88. that means the company not efficiently using its capital. 2008: Equity turnover ratio of Libra Infusions Ltd. In 2007 was 5. 05. Which is lower than the industry average of 6. 88. t hat means the company not efficiently using its capital. 009: Equity turnover ratio of Libra Infusions Ltd. In 2007 was 4. 31 which is lower than the industry average of 6. 88. that means the company not efficiently using its capital. * Operation Profitability Ratio Gross Profit Margin * Normally the gross profit has to rise proportionately with sales. * It can also be useful to compare the gross profit margin across similar businesses although there will often be good reasons for any disparity. Gross profit Margin=Gross profit/ Net Sales 2007| 2008| 2009| 35. 09%| 35. 36| 32. 98%| Comments: 2007: Gross profit margin of Libra Infusions Ltd in 2007 is 35. 9% which is lower than the industry average 55. 75%. That means the firm is not profitable. 2008: Gross profit margin of Libra Infusions Ltd in 2007 is 35. 36% which is lower than the industry average 55. 75%. That means the firm is not profitable. 2009: Gross profit margin of Libra Infusions Ltd in 2007 is 32. 98% which is lower th an the industry average 55. 75%. That means the firm is not profitable Operating profit Margin ratio Analysis The operating profit margin indicates how much profit a company makes after paying for variable costs of production such as wages, raw materials, etc.It shows the efficiency of a company controlling the costs and expenses associated with its business operations. Operating profit margin = Operating income ? Net sales 2007| 2008| 2009| 8. 13%| 6. 84%| 7. 60%| Comments: 2007: Operating profit margin of Libra Infusions Ltd in 2007 is 8. 13% which is lower than the industry average 11. 02%. That means the firm is not satisfactory at all. 2008: Operating profit margin of Libra Infusions Ltd in 2007 is 6. 84% which is lower than the industry average 11. 02%. That means the firm is not satisfactory at all. 009: Operating profit margin of Libra Infusions Ltd in 2007 is 7. 60% which is lower than the industry average 11. 02%. That means the firm is not satisfactory at all. Net Profit Margin This is a widely used measure of performance and is comparable across companies in similar industries. The fact that a business works on a very low margin need not cause alarm because there are some sectors in the industry that work on a basis of high turnover and low margins, for examples supermarkets and motorcar dealers. What is more important in any trend is the margin and whether it compares well with similar businesses.Net profit Margin= Net Income/Net Sales 2007| 2008| 2009| 1. 93%| 1. 55%| 1. 19%| Comments: 2007: Net profit margin of Libra Infusions Ltd in 2007 is 1. 93% which is lower than the industry average 8. 30%. That means the firm is not profitable. 2008: Net profit margin of Libra Infusions Ltd in 2007 is 1. 55% which is lower than the industry average 8. 30%. That means the firm is not profitable. 2009: Net profit margin of Libra Infusions Ltd in 2007 is 1. 19% which is lower than the industry average 8. 30%. That means the firm is not profitable. Return on paid up capitalThis ratio shows the profit attributable to the amount invested by the owners of the business. It also shows potential investors into the business what they might hope to receive as a return. The stockholders’ equity includes share capital, share premium, distributable and non-distributable reserves. The ratio is calculated as follows: Return on paid up capital =Net Income+Gross InterestAverage Total Capital 2007| 2008| 2009| 48. 10| 51. 25| 34. 93| Risk Analysis of Libra Infusion: * Risk analysis examines the uncertainty of income for the firm and for an investor * Total firm risks can be decomposed into two basic sources: Business risk: The uncertainty in a firm’s operating income, highly influenced by industry factors * Financial risk: The added uncertainty in a firm’s net income resulting from a firm’s financing decisions (primarily through employing leverage). * liquidity Risk : it considers another aspect of risk from an investor†™s Business Risk Variability of the firm’s operating income over time. It can be measured by calculating the standard deviation of operating income over time or the coefficient of variation. In addition to measuring business risk, we want to explain its determining factors.Two primary determinants of business risk: * Sales variability * The main determinant of earnings variability * Cost Variability and Operating leverage * Production has fixed and variable costs * Greater fixed production costs cause greater profit volatility with changes in sales * Fixed costs represent operating leverage Greater operating leverage is good when sales are high and increasing, but bad when sales fall. Business risk =( cofficient of variiation of operating earning) =( OE-OE)2/nOE/N ( OE-OE)2/n| 3636504| OE/N| 25498574| ( OE-OE)2/nOE/N| 14. 26%| Operating leverage= %? oe%? sn %? e%? s| 2. 08739| n| 3| %? oe%? sn| . 70| Financial Risk Interest payments are deducted before we get to net income, these are fixed obligations. Similar to fixed production costs, these lead to larger earnings during good times, and lower earnings during a business decline, fixed financing costs are called financial leverage. The use of debt financing increases financial risk and possibility of default while increasing profitability when sales are high. Two sets of financial ratios help measure financial risk * Balance sheet ratios * Earnings or cash flow available to pay fixed financial chargesAcceptable levels of financial risk depend on business risk. A firm with considerable business risk should likely avoid lots of debt financing. * Proportion of debt (balance sheet) ratios: Long-term debt can be related to Equity (L-t D/Equity) how much debt does the firm employ in relation to its use of equity? And Total Capital [L-t D/ (L-t D +Equity)] How much debt does the firm employ in relation to all long-term sources of funds? Debt to Equity Ratio =Total long term debttotal eqity 2007| 2008| 2009| .94| 1. 08| 1. 54| * Total debt Ratio : Total debt ratio refers to Assessment of overall debt load, including short-term.The formula of calculation is: Debt to Equity Ratio =current Liabilities+Total Long term debtTotal Debt-Total equity 2007| 2008| 2009| .720| . 725| . 975| Comments: 2007: We analyze debt ratio of company from its balance sheet and found that year 2007 company’s debt ratio is 72% this value indicates that the company has financed more than half of is assets with debt. The higher this ratio greater he firms degree of indebtedness and the more finance leverage it has. 2008: We analyze debt ratio of company from its balance sheet and found that year 2007 company’s debt ratio is 72. % this value indicates that the company has financed more than half of is assets with debt. The higher this ratio greater he firms degree of indebtedness and the more finance leverage it has 2009: We analyze debt ratio of company from its balance sheet and found that year 2007 company’s debt ratio is 97. 5% this value indicates that the company has financed more than half of is assets with debt. The higher this ratio greater he firms degree of indebtedness and the more finance leverage it has. * Earnings or Cash Flow Ratios It is Relate operating income (EBIT) to fixed payments required from debt obligations, higher ratio means lower risk.Interest Coverage or Times Interest Earned Ratio Measures the number of times Interest payments are â€Å"covered† by EBIT Interest Coverage = EBIT/Interest Expense. May also want to calculated coverage ratios that reflect other fixed charges Lease obligations (Fixed charge coverage). Interest Coverage =EBITDebt Interest Change 2007| 2008| 2009| 1. 53| 1. 47| 1. 28| * Cash flow ratios Fixed financing costs such as interest payments must be paid in cash, so these ratios use cash flow rather than EBIT to assess the ability to meet these obligations, Relate the flow of cash available from operations to: * Int erest expense Total fixed charges * The face value of outstanding debt Cash flow coverage of fixed financial cost=Net cash flow provided by operating activities+Interest Expense+Estimated Lease Inertest ExpenseInertest Expense+Estimated lease Interest expense 2007| 2008| 2009| 1. 51| 2. 49| 2. 29| Comments: Cash flow is used o determine whether a borrower is going to be able to service interest payment on a loan. Generally lender prefers a cash flow ratio more than 1. Here we can see that the cash flow ratio of Libra Infusion Ltd. in 2007 was 1. 51 and it increases 2. 9 in 2008. and decrease in 2009 at 2. 29. Liquidity Risk Market Liquidity is the ability to buy or sell an asset quickly with little price change from a prior transaction assuming no new information. External market liquidity is a source of risk to investors. The most important factor of external market liquidity is the dollar value of shares traded. This can be estimated from the total market value of outstanding secu rities. It will be affected by the number of security owners. Numerous buyers and sellers provide liquidity. Analysis of Growth Potential:Want to determine sustainable growth potential Important to both creditors and owners, * Creditors interested in ability to pay future obligations, * For owners, the value of a firm depends on its future growth in earnings, cash flow, and dividends. Determinants of Growth * Sustainable Growth Model: Suggests that the sustainable growth rate is a function of two variables: * What is the rate of return on equity (which gives the maximum possible growth)? * How much of that growth is put to work through earnings retention (rather than being paid out in dividends)? g = Percentage of Retain earning * Return on Equity|Formula: year| Percentage of Retain earning=1-Dividend DeclearedOperating earnig After Tax| ROE=Net Income After TaxShareholdres Equity| g = Percentage of Retain earning Return on Equity| 2007| . 64| 7. 55| 4. 83| 2008| . 66| 7. 57| 4. 50| 2009| . 57| 5. 10| 2. 91| DuPont Analysis DuPont Analysis is A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are measured at their gross book value rather than at net book value in order to produce a higher return on equity (ROE). It is also known as â€Å"DuPont identity†.DuPont analysis  tells us that ROE is affected by  three things: – Operating efficiency, which is  measured by profit margin – Asset use efficiency, which is measured by total asset turnover – Financial leverage, which is  measured by the equity multiplier year| EBIT/Sales (%)| Sales/ Total Assets (Times)| EBIT/ Total Assets (%)| Interest Expense/ Total Assets (%)| NBT/ Total Equity (%)| Total Assets/ Common Stock Equity (times)| NBT/ Common Stock Equity(%)| Tax Retention Rate| Return On Equity (ROE)| 2007| 8. 13| 1. 09| 8. 86| 5. 85| 3. 01| 3. 58| 1078| 0. 70| 7. 55| 2008| 6. 84| 1. 35| 9. 23| 6. 34| 2. 89| 3. 64| 10. 52| 0. 72| 7. 7| 2009| 7. 60| 0. 07| . 53| (. 89)| 1. 42| 4. 92| 6. 99| 0. 73| 5. 10| It is believed that measuring assets at gross book value removes the incentive to avoid investing in new assets. New asset avoidance can occur as financial accounting depreciation methods artificially produce lower ROEs in the initial years that an asset is placed into service. If ROE is unsatisfactory, the DuPont  analysis helps locate  the part of the business that  is underperforming. Comparative analysis Ratio| Formula| Years| IndustryAverage| Evaluation| | | 2007| 2008| 2009| | Cross Section| Time Series| Overall| Current Ratio| Current assets/ current liabilities| . 9| 1. 50| 1. 41| 1. 11| Poor| Ok| Ok| Quick Ratio| (Cash+Marketable securites+Recivables)/ Current Libilities| . 20| . 18| . 18| 0. 56| Poor| Poor| Poor| Cash ratio| Cash+Marketable securites)/ Current Libilities| . 035| . 049| . 037| 0. 12| Poor| Poor| Poor| Receivable turnover| Net Annual Sales/ Accounts Receiva ble| 16. 89| 21. 35| 15. 52| 13. 42| Good| Good| Good| Average Receivable Collection Period| 365/Average A/R collection period| 21. 65| 17. 10| 23. 51| 45. 45| Poor| Poor| Poor| Inventory Turnover| cost of goods sold /average inventory| 5. 65| 5. 16| 2. 87| 1. 6| Good| Good| Good| Cash Conversion Cycle | COGS/Average Tra