Review of The Drunkard’s Walk †How Randomness Rules Our Lives by Mlodinow Essay

Read the book â€Å"The Drunkard’s Walk – How Randomness Rules Our Lives† by Mlodinow and pay special attend to the following questions. Some of these questions may appear on quizzes and exams. Chapter 1 Peering through the Eyepiece of Randomness 1. Explain the phenomenon â€Å"regression toward the mean.† In any series of random events an extraordinary event is most likely to be followed, due purely to chance, by a more ordinary one. 2. What factors determine whether a person will be successful in career, investment, etc.? Success in our careers, in our investments, and in our life decisions, both major and minor—is as much the result of random factors as the result of skill, preparedness, and hard work. 3. Was Paramount’s firing of Lansing the correct decision? After she was fired, Paramount films market share rebounded. No, Lansing was fired because of industry’s misunderstanding of randomness and not because of her own flawed decision making. Lansing had good luck at the beginning and bad luck at the end. Chapter 2 The Laws of Truths and Half-Truths 1. What coined the term probability, or probabilis? (Latin: probabilis credible) Cicero’s principal legacy in the field of randomness is the term he used, probabilis, which is the origin of the term we employ today. But it is one part of the Roman code of law, the Digest, compiled by Emperor Justinian in the sixth century, that is the first document in which probability appears as an everyday term of art 2. What is the rule for compounding probabilities? How to compute probability that one event and another event both happening? According to the correct manner of compounding probabilities, not only do two half proofs yield less than a whole certainty, but no finite number of partial proofs will ever add up to a certainty because to compound probabilities, you don’t  add them; you multiply. That brings us to our next law, the rule for compounding probabilities: If two possible events, A and B, are independent, then the probability that both A and B will occur is equal to the product of their individual probabilities. 3. Is the Roman rule of half proofs: two half proofs constitute a whole proof, correct? What do two half proofs constitute by the rule of compounding probabilities? 4. Suppose an airline has 1 seat left on a flight and 2 passengers have yet to show up. If there is a 2 in 3 chance a passenger who books a seat will arrive to claim it, what is the probability that the airline will have to deal with an unhappy customer? What is the probability that neither customer will show up? What is the assumption? What is the probability that either both passengers or neither passenger will show up? 5. In DNA testing for legal trial, there is 1 in 1 billion accidental match and 1 in 100 laberror match. What is the probability that there is both an accidental match and a lab error? What is the probability that one error or the other occurred? Which probability is more relevant? Chapter 3 Finding Your Way through a Space of Possibilities 1. What is â€Å"sample space†? 2. What is Cardano’s law of the sample space? (P. 62) 3. In the Monty Hall problem, why should the player switch after the host’s intervention? Chapter 4 Tracking the Pathways to Success 1. The grand duke of Tuscany’s problem: what is the probability of obtaining 10 when you throw three dice? What about 9? 2. What is Cardano’s law of the sample space? 3. What is the application of Pascal’s triangle? 4. For the Yankees-Braves World Series example, for the remaining 5 games, what is the probability that the Yankees win 2 games? 1 game? 5. What is mathematical expectation? 6. Explain why a state lottery is equivalent to: Of all those who pay the dollar or two to enter, most will receive nothing, one person will receive a fortune, and one person will be put to death in a violent manner? Chapter 5 The Dueling Laws of Large and Small Numbers? 1. What is Benford’s law? Discuss some applications in business. 2. Explain the difference between the frequency interpretation and the subjective interpretation of randomness. 3. Do psychics exist? 4. What is tolerance of error, tolerance of uncertainty, statistical significance? 5. Describe some applications from the book of the law of large numbers and the law of small numbers. Chapter 6 Bayes’s Theory 1. Two-daughter problem In a family with two children, what are the chances that both children are girls? Ans: 25% In a family with two children, what are the chances, if one of the children is a girl, that both children are girls? Ans 33% In a family with two children, what are the chances, if one of the children is a girl named Florida, that both children are girls? Ans: 50% 2. How to apply Bayes’s Theory to determine car insurance rates? Ans : Models employed to determine car insurance rates include a mathematical function describing, per unit of driving time, your personal probability of having zero, one, or more accidents. Consider, for our purposes, a simplified model that places everyone in one of two categories: high risk, which includes drivers who average at least one accident each year, and low risk, which includes drivers who average less than one. If, when you apply for insurance, you have a driving record that stretches back twenty years without an accident or one that goes back twenty years with thirty-seven accidents, the insurance company can be pretty sure which category to place you in. But if you are a new driver, should you be classified as low risk (a kid who obeys the speed limit and volunteers to be the designated driver) or high risk (a kid who races down Main Street swigging from a half-empty $2 bottle of Boone’s Farm apple wine)? Since the company has no data on you—no idea of the â€Å"position of the first ball†Ã¢â‚¬â€it might assign you an equal prior  probability of being in either group, or it might use what it knows about the general population of new drivers and start you off by guessing that the chances you are a high risk are, say, 1 in 3. In that case the company would model you as a hybrid—one-third high risk and two-thirds low risk—and charge you one-third the price it charges high-risk drivers plus two-thirds the price it charges low risk drivers. Then, after a year of observation—that is, after one of Bayes’s second balls has been thrown—the company can employ the new datum to reevaluat e its model, adjust the one-third and two-third proportions it previously assigned, and recalculate what it ought to charge. If you have had no accidents, the proportion of low risk and low price it assigns you will increase; if you have had two accidents, it will decrease. The precise size of the adjustment is given by Bayes’s theory. In the same manner the insurance company can periodically adjust its assessments in later years to reflect the fact that you were accident-free or that you twice had an accident while driving the wrong way down a one way street, holding a cell phone with your left hand and a doughnut with your right. That is why insurance companies can give out â€Å"good driver† discounts: the absence of accidents elevates the posterior probability that a driver belongs in a low-risk group. 3. Probability of correct diagnosis Suppose in 1989, statistics from the Centers for Disease Control and Prevention show about 1 in 10,000 heterosexual non-IV-drug-abusing white male Americans who got tested were infected with HIV. Also suppose about 1 person out of every 10,000 will test positive due to the presence of the infection. Suppose 1 in 1,000 will test positive even if not infected with HIV (false positive). What is the probability that a patient who tested positive is in fact healthy? Ans: So if you test 10 000 people you will have 11 positives – 1 who is really infected, 10 are false positives. Of the 11 positive testees, only 1 has HIV, that is, 1/11. Therefore the probability that a positive testee is healthy = 10 / 11 = 90.9% 4. O. J. Simpson trial According to FBI statistics, 4 million women are battered annually by husbands and boyfriends in U.S. and in 1992 1,432 or 1 in 2500 were killed by their husbands or boyfriends. The probability that a man who batters his wife will go on to kill her is 1 in 2500. The probability that a battered wife who was murdered was murdered by her abuser is 90%. Which probability is relevant to the O. J. trial? What is the fundamental difference between probability and statistics? Ans: 1) Relevant one is the probability that a battered wife who was murdered was murdered by her abuser = 90%. 2)the fundamental difference between probability and statistics: the former concerns predictions based on fixed probabilities; the latter concerns the inference of those probabilities based on observed data. Chapter 7 Measurement and the Law of Errors 1. Election Why did the author argue that â€Å"when elections come out extremely close, perhaps we ought to accept them as is, or flip a coin, rather than conducting recount after recount?† Ans: (pg= 127 and 128) Elections, like all measurements, are imprecise, and so are the recounts, so when elections come out extremely close, perhaps we ought to accept them as is, or flip a coin, rather than conducting recount after recount. 2. What is mathematical statistics? Ans: Mathematical statistics, provides a set of tools for the interpretation of the data that arise from observation and experimentation. Statisticians sometimes view the growth of modern science as revolving around that development, the creation of a theory of measurement. But statistics also provides tools to address real-world issues, such as the effectiveness of drugs or the popularity of politicians, so a proper understanding of statistical reasoning is as useful in everyday life as it is in science. 3. Wine tasting Should we believe in wine ratings from those â€Å"wine experts†? Why or why not? Two groups wine tasting experts produce the following results: (a) 90 90 90 90 90 90 90 90 90 90 90 90 90 90 90 (b) 80 81 82 87 89 89 90 90 90 91 91 94 97 99 100 Compare the two groups of data. (pg 134) From the theoretical viewpoint, there are many reasons to question the significance of wine ratings. For one thing, taste perception depends on a complex interaction between taste and olfactory stimulation. Strictly speaking, the sense of taste comes from five types of receptor cells on the tongue: salty, sweet, sour, bitter, and umami. The last responds to certain amino acid compounds (prevalent, for example, in soy sauce). But if that were all there was to taste perception, you could mimic everything—your favorite steak, baked potato, and apple pie feast or a nice spaghetti Bolognese—employing only table salt, sugar, vinegar, quinine, and monosodium glutamate. Fortunately there is more to gluttony than that, and that is where the sense of smell comes in. The sense of smell explains why, if you take two identical solutions of sugar water and add to one a (sugar-free) essence of strawberry, it will taste sweeter than the other.15 The perceived taste of wine arises from the effects of a stew of between 600 and 800 volatile organic compounds on both the tongue and the nose.16 That’s a problem, given that studies have shown that even flavor-trained professionals can rarely reliably identify more than three or four components in a mixture 4. Can professional mutual fund managers (stock pickers) beat students who pick stocks by tossing coins? 5. What is the margin of error in a poll? Should variation within the margin of error be ignored in a poll? Ans: < 5% (or 3.5%). Yes, any variation within the margin of error should be ignored in a poll 6. What is the central limit theorem? Ans: The probability that the sum of a large number of independent random factors will take on any given value is distributed according to the normal distribution. Chapter 8 The Order in Chaos 1. Who are the founders of statistics? Graunt and his friend William Petty have been called the founders of statistics, a field sometimes considered lowbrow by those in pure mathematics owing to its focus on mundane practical issues, and in that sense John Graunt in particular makes a fitting founder. 2. How did Graunt estimate the population of London in 1662? What is Graunt’s legacy? From the bills of mortality, Graunt knew the number of births. Since he had a rough idea of the fertility rate, he could infer how many women were of childbearing age. That datum allowed him to guess the total number of families and, using his own observations of the mean size of a London family, thereby estimate the city’s population. He came up with 384,000— previously it was believed to be 2 million. Graunt’s legacy was to demonstrate that inferences about a population as a whole could be made by carefully examining a limited sample of data. But though Graunt and others made valiant efforts to learn from the data through the application of simple logic, most of the data’s secrets awaited the development of the tools created by Gauss, Laplace, and others in the nineteenth and early twentieth centuries. 3. How did Poincare show the baker was shortchanging customers? French mathematician Jules-Henri Poincarà © employed Quà ©telet’s method to nab a baker who was shortchanging his customers. At first, Poincarà ©, who made a habit of picking up a loaf of bread each day, noticed after weighing his loaves that they averaged about 950 grams instead of the 1,000 grams advertised. He complained to the authorities and afterward received bigger loaves. Still he had a hunch that something about his bread wasn’t kosher. And so with the patience only a famous—or at least tenured—scholar can afford, he carefully weighed his bread every day for the next year. Though his bread now averaged closer to 1,000 grams, if the baker had been honestly handing him random loaves, the number of loaves heavier and lighter than the mean should have  diminished following the bellshaped pattern of the error law. Instead, Poincarà © found that there were too few light loaves and a surplus of heavy ones. He concluded that the baker had not ceased baking underweight loaves but instead was seeking to placate him by always giving him the largest loaf he had on hand. 4. Are all data in society such as financial realm normal? (Yes) Are film revenue data normal? (No) For one thing, not all that happens in society, especially in the financial realm, is governed by the normal distribution. For example, if film revenue were normally distributed, most films would earn near some average amount, and two-thirds of all film revenue would fall within a standard deviation of that number. But in the film business, 20 percent of the movies bring in 80 percent of the revenue. Such hit-driven businesses, though thoroughly unpredictable, follow a far different distribution, one for which the concepts of mean and standard deviation have no meaning because there is no â€Å"typical† performance, and megahit outliers, which in an ordinary business might occur only once every few centuries, happen every few years. 5. Who dubbed the phenomenon â€Å"regression toward the mean†? Explain its meaning. Galton dubbed the phenomenon—that in linked measurements, if one measured quantity is far from its mean, the other will be closer to its mean—regression toward the mean. 6. Who coined the term â€Å"the coefficient of correlation†? Explain its meaning. Galton coined the term â€Å"the coefficient of correlation â€Å".The coefficient of correlation is a number between −1 and 1; if it is near  ±1, it indicates that two variables are linearly related; a coefficient of 0 means there is no relation. 7. Discuss the applications of the chi-square test?(Pg 165 166 167) Pearson invented a method, called the chi-square test, by which you can determine whether a set of data actually conforms to the distribution you believe it conforms to. 8. What is statistical physics? James Clerk Maxwell and Ludwig Boltzmann, two of the founders of statistical physics. Statistical physics was aimed at explaining a phenomenon called Brownian motion. Statistical physics is the branch of physics that uses methods of probability theory and statistics, and particularly the mathematical tools for dealing with large populations and approximations, in solving physical problems. 9. What is a drunkard’s walk or random walk? The random motion of molecules in a fluid can be viewed, as a metaphor for our own paths through life, and so it is worthwhile to take a little time to give Einstein’s work a closer look. According to the atomic picture, the fundamental motion of water molecules is chaotic. The molecules fly first this way, then that, moving in a straight line only until deflected by an encounter with one of their sisters. As mentioned in the Prologue, this type of path—in which at various points the direction changes randomly—is often called a drunkard’s walk, for reasons obvious to anyone who has ever enjoyed a few too many martinis (more sober mathematicians and scientists sometimes call it a random walk). Chapter 9 Illusions of Patterns and Patterns of Illusion 1. What caused the table to move, spirit? not a direct consequence of reality but rather an act of imagination. 2. What is significance testing? Significance testing, was developed in the 1920s by R. A. Fisher, one of the greatest statistician for scientific research. It is a formal procedure for calculating the probability of our having observed what we observed if the hypothesis we are testing is true. If the probability is low, we reject the hypothesis. If it is high, we accept it. 3. Why did Apple founder Steve Jobs made the ipod’s shuffling feature â€Å"less random to make it feel more random†? Spencer-Brown’s point was that there is a difference between a process being random and the product of that process appearing to be random. Apple ran into that issue with the random shuffling method it initially employed in its iPod music players: true randomness sometimes produces repetition, but when users heard the same song or songs by the same artist played back-to-back, they believed the shuffling wasn’t random. And so the company made the feature â€Å"less random to make it feel more random,† said Apple founder Steve Jobs. 4. Suppose there are 1000 mutual fund managers picking stock for 15 consecutive years by each tossing a coin once a year. If a head is obtained, he/she beats the market (a fund manager either beats the market average or not). What is the probability that someone among the 1000 who would toss a head in each of the 15 years? From Nobel Prize-winning economist Merton Miller: â€Å"If there are 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going score, by chance alone, and that’s all that’s going on. It’s a game, it’s a chance operation, and people think they are doing something purposeful but they’re really not.† Ans: The chances that, after fifteen years, a particular coin tosser would have tossed all heads are then 1 in 32,768. But the chances that someone among the 1,000 who had started tossing coins in 1991 would have tossed all heads are much higher, about 3 percent. 5. What is confirmation bias? When we are in the grasp of an illusion—or, for that matter, whenever we have a new idea—instead of searching for ways to prove our ideas wrong, we usually attempt to prove them correct. Psychologists call this the confirmation bias, and it presents a major impediment to our ability to break free from the misinterpretation of randomness. Chapter 10 The Drunkard’s Walk 1. What is the butterfly effect? The butterfly effect, based on the implication that atmospheric changes so small they could have been caused by a butterfly flapping its wings can have a large effect on subsequent global weather patterns. 2. Can past performance of mutual fund managers predict future performance? No.

Price Fixing

The case was released in the mid-2006, where the Federal Trade Commission has declared that they are challenging the members of the Puerto Rico Association of Endodontists, Corporation or the PRAE (Commissions, 2006). This is because of alleged price-fixing collaborations that they would be charging on several insurance policies and dental services that they offer. They have collaborated and made agreements with 30 other competitors, wherein they fixed their prices at the expense of their consumers. Because of this, the FTC was forced to file a complaint against this company since it decreases the competition between these companies, thus higher costs will be imposed on the consumers. This is a clear violation of the Federal Trade Commission Act, Section number 5. In order for this matter to be resolved, The Puerto Rico Association of Endodontists, Corp. will have to refrain from involving in matters that promote anticompetitive conduct in the coming years. Through this, the Federal Trade Commission will be able to make sure that these dental services and other necessary health care issues will be given and addressed for the consumers at prices that they could afford. Keeping a competitive environment in the aspect of health care will open up better opportunities for the people, along with lower competitive prices. Letting healthcare be monopolized will lead to higher pricing and less maintenance, and would really be a burden to the people, the consumers. That’s why these health care providers and producers should not act as one; they should not collaborate with each other in their pricing, because it takes away the aspect of competitiveness between them. The complaints against Puerto Rico Association of Endodontists, Corporation shows that in the year 2003, the company has already began its bargaining with their competitors, thus resulting to the drastic increase in five dental plans already. Another increase occurred during 2004, wherein the prices also went up because of their bargaining. Because of these actions the ones who were jeopardized were the people; they were the ones who carried the burden of increased rates, since these health care issues is a necessity for everyone. The Federal Trade Commission analyzed that these drastic changes in prices have no whatsoever effect on the quality of services offered by the company, thus the additional prices were not really justifiable. It doesn’t lead to a better quality of health care, thus, it is only a waste in the part of the consumers. Given the situation, the Federal Trade Commission proposed a consent order which will be solve the problem at hand. This will hopefully relieve the impact of the alleged anticompetitive actions by the Puerto Rico Association of Endodontists, Corporation and further prevent it from happening again. It would then hinder the company to have any settlements or agreements with other endodontists and negotiate with any payor on the services that they offer, except properly arranged by the organization. Reference: Commissions, F. T. (2006). FTC Charges Puerto Rico Endodontists With Price Fixing.  Ã‚   Retrieved August 4, 2007   

Norm Paper

PAPER # 1: BREAKING A NORM NAME: Nisha Tommy A norm is a principle of right action binding upon the members of a group and serving to guide, control, or regulates proper and acceptable behavior. Social norms are group-held beliefs about how members should behave in a given context. Sociologists describe norms as informal understandings that govern society’s behaviors, while psychologists have adopted a more general definition, recognizing smaller group units, like a team or an office, may also endorse norms separate or in addition to cultural or societal expectations.The psychological definition emphasizes social norms' behavioral component, stating norms have two dimensions: how much behavior is exhibited and how much the group approves of that behavior. The people living in the society develop social norms. These norms have its importance and pay a vital role in the socialization of an individual and molding of personality. There are some important functions of social norms, which play essential part in the smooth of the society. These are control behavior, harmonize the society, and law and order. I chose to violate a social norm when riding on the elevator.I did this in a hospital environment where doctors, nurses, technicians, and mostly patients were around me. I monitored the reaction of ten different groups throughout the experiment to get the best result. It is included different nationality and different age group. I rode the elevator ten times but instead of standing the â€Å"normal† way which is facing the door an unspoken social norm I stood the wrong way standing by the door looking at the back of the elevator. I felt very uncomfortable for the first few times but, after that I started enjoying people’s nonverbal reactions.Still it is hard to break a norm by knowingly breaking it. I got various reactions. Some people stare at me as if I was not normal. Some rolled their eyes and others startled their forehead. Some of them as ked me if I was ok. Some couples looked each other and smiled. Some shook their head. Some of them didn’t look at me at all they were looking on the floor. One of the employees asked me â€Å"Do you work here? Which department do you work for? † One person asked me â€Å"Do you have elevators in your country†? One person asked me â€Å"how long have you been in US†? After my answer she made a facial expression.The question â€Å"Are you ok? ’’ contradicted my hypothesis and proved it wrong which was even if I stand the wrong way in the elevator and go against the social norm then people still won’t really react. This experiment proved my hypothesis wrong. While I had thought I wouldn’t get any reactions I did in reality get many reactions from staring to being asked if I was ok. Many people stared at me as though there was something wrong with me or even felt uncomfortable around me. My hypothesis was proven wrong because clea rly breaking a social norm is more significant than I had assumed.The experiment proved a lot about social norms and breaking them. It showed the significance of social norms how much social norms play a role in society and people as individuals act. The social norm I broke was implicit yet it proved to be so great in how people saw me and how they reacted. I standing the wrong way changed the way some people felt in the elevator they started to feel uncomfortable because my actions went against the social norm which is standing facing the door and anything that goes against the social norm is not normal.The gesture was small yet it proved to generate greater reactions. This experiment proves that there are such things as social norms that aren’t even formally stated and as a society rules are set as to how once should behave and when broken one is met reactions and seen as different and â€Å"not normal†. Even in fast paced places where people tend to be too busy or t hey are stressed or even too sick to notice, people notice the breaking of social norms and react toward it because that is how people were taught to look at differently those who don’t follow the social norm.I had believed that in United State where the attitude of minding your business is what people shape their lives around this would not be the case but I was wrong. Adhering to social norms is clearly a big part of people’s lives and shapes the way they act. What surprised me about the results was the way people acted toward me how some people were feeling uncomfortable. This surprised me because they were acting like there might be something wrong with me just because I was standing the wrong way. The man who asked me if I am ok shocked me the most because I didn’t expect anyone to actually ask me this.All of this also shows how the environment plays a role in a person’s life. The social norms of a place which differ from place to place shapes the so ciety it sets the social code. Especially in the case of the man who asked me if I was ok. His behavior and the rest of the experimental group showed how me breaking the social norm affects not only me but the people around me and changes the way I am seen to the world. He would have probably not asked me this is I was standing the right way. But because I violated the social norm his behavior and reactions changed.The groups acted differently because of the variable which made all the difference. One can bring in conformity to explain these results. Society as a whole has learned to conform so as not to be the odd one out. The social based rules that were made people as a whole have learned to change their behavior to conform to the universal social code so they aren’t different. And when they see someone who acts differently they see them as â€Å"weird† different. People like behaviorists would say have been â€Å"shaped† a certain way a socially acceptable w hich is why people reacted the way they did to me.I went against everyone the rules of society by not conforming hence I was the odd one out. If it weren’t for the social norms then maybe I would not have gotten the reactions I did because there wouldn’t be anything to conform too. One can infer that some of the reactions showed the following of the social norm of not being rude. While some of them stared they did not do anything as not to be rude which is in its own way following a social norm of politeness. This experiment has taught me basically a lot more about social norms and society. I got to see firsthand how social norms work and how much they play a role in everyone’s daily lives.I learned how people react toward people who don’t follow the social norms and break them. If this experiment was conducted somewhere else I would say definitely the results would be different, because the place makes the social norms. Every environment is different and society makes rule based on that. What might be acceptable in one place might not be so acceptable in another and vice versa. For example in some place standing away at a decent distance is considered disrespectful that is going against the social norm whereas in America that is not the case. Here standing too close is breaking the social norm.The results might have been more drastic or there might have not been any reaction at all. This experiment helped in providing the significance of social norms. The experiment also proved to show the difference between following and breaking social norms. After breaking the social norm I got to see many reactions which proved my hypothesis wrong and showed how conformity has a strong impact on society. By standing backwards in an elevator I broke the social norm of standing facing the back of the elevator and hence I became the odd one out. I enjoyed doing this experiment as a whole.

Case Collection Study Essay Example | Topics and Well Written Essays - 2000 words

Case Collection Study - Essay Example The interrelationships between what used to be an indicator of health or illness in the economy have changed dramatically and analytics must be changed to reflect those facts. An example of one of the ways that the world is very different is the health of the stock market as a reflective device about the wealth of the nation. While the stock market has been showing better numbers in recent months, the nation on the whole is not thriving at the same level with unemployment still high. As well, the level of CEO salaries are over 300% that of the average worker. It used to be that the level of salary of a CEO reflected the health of the salaries of the employees. In 1980 the ratio between the CEO and the worker was 42-1 (Carroll & Buchholtz, 2010. What this reflects is the continuing disparity of wealth in the United States. And while this existed in 2007, the economic downturn of 2008 established the destruction of the Middle class, creating a whole new way in which consumer prediction s needed to be approached. The cost of living has gone up and working class people and the remnants of the middle class have very little disposable income. Davenport, Harris, and Morison (2010) discuss some of the reasons to not use analytics. One of these reasons is when history misleads the results of the analytics. Because of the changes that have occurred in the last six years, the historic interconnections of different indicators are not necessarily still meaningful. The example of the stock market and how it no longer indicates overall wealth is an example of how predictors can now be misleading for the future from today. Willis (2011) writes that in the last century the stock market has always been an indicator of overall wealth, but since the economic downturn that has changed. This example shows how a number of factors have changed in the new economy and in order to create a predictive analysis, these factors must be taken into consideration. What has not changed, however, is the power of distinction. People are still finding ways to buy items and distinction has created enough power for many companies to thrive in this stifled economy. One example of this is the iPad which launched in 2009 and sold over 25 million of the units in a few short years. Distinction has created the market for the iPad and its competitors have not come near to duplicating that success (Bell, 2011). It is the one that comes out first that will get the attention and this is how distinction is still a powerful factor. This can also be seen in the iPhone which has decent competitors, but all one has to do is watch the commercials to see that the competition is doing its best to diminish the cult status of the Apple phones. Through trying to insinuate that they are at the end of their life-cycle competitors like Galaxy and Microsoft are using a thin stick to strike a mighty mountain. In order to gain the power of predictive analytics, then, it is important to recognize what has changed in the last six years, but to realize that the most important part of business has not changed. When a new idea is good and has a great deal of consumer value the idea will succeed. Demand can be predicted through distinction, but where there is no distinction and an idea is being recycled or improved upon, the predictive analytics will have to take into consideration the real status of the

See instructions Research Paper Example | Topics and Well Written Essays - 250 words - 1

See instructions - Research Paper Example In licensing this technology to foreign firms, the licensing firm stands a chance to lose the technology to the competitor (Wuhan University of technology, Para. 2). This is in the form of the competitor developing the technology beyond the level that it was originally. Proprietary technology is known to give an edge to the owner by denying competitors of the benefits it has to offer. Proprietary technologies owners use them as a source of revenue by controlling the market prices of their products, as well as those of their competitors (Economides & Katsamakas, 2006, Para. 1058). In such cases, the technology is used as a benchmark for market prices, and licensing it would, therefore, be a demerit to the owner. At the same time, licensing would be a good opportunity for the owners to up their performance by increasing the level of competition. With competition, they can provide better products and services to consumers (Business Wire, Para. 3). The advantage is, therefore, not lost in any way. Instead, it throws the competitors off balance due to the possibility that the technology owners may have better deals. Licensing proprietary technology is an outright loss of competitive advantage to the owners as a result of creating an alternative source of technology to consumers. This is because; licensing makes the technology open source. According to studies, proprietary technology tends to dominate the market while open source is always a runners up thus it should be avoided at all cost (Economides & Katsamakas, 2006, p. 1059). Economides, N., & Katsamakas, E. (2006). Two-Sided Competition of Proprietary vs. Open Source Technology Platforms and the Implications for the Software Industry.  Management Science,  52(7),

Global Leadership and Team Development Essay Example | Topics and Well Written Essays - 1500 words

Global Leadership and Team Development - Essay Example The upper half of the picture is showing total opposite scenario. The picture is giving the idea of bossing attitude of the leader. Upper portion of the picture is not at all falling in line with leadership learning’s. The upper portion of the picture is showing how the leader is misusing his power of position. The picture is showing very little scope of motivations for followers from the side of their leader. The lower half of the picture is very much consistent with leadership learning’s. This portion of the picture is showing a suitable scenario for proper leadership. Here the leader is leading from the front. Here the leader is setting example for his followers. The Leader is motivating, inspiring and supporting his followers. In this half of the picture the leader is showing ways to his followers. The picture is totally falling in line with leadership learning’s. The picture is showing that there is a mission. The leader is inspiring his followers to achieve that mission. Here in this picture the leader is handling the whole situation and supporting his followers to reach towards common goal. The leader is not authoritative at all. Here in this portion of the picture the leader is sharing burden with his followers. The leader is not at all misusing his power of position. According to leadership learning’s leadership is all about leading from the front. This porti on of the picture is showing the same thing. So this part of the given picture is very much suitable and consistent with leadership theories (Burns 137). Communication affects leader’s ability to lead very significantly. Communication is one of the most important factors for leaders to lead a bunch of followers. Proper communication is very important to channelize followers towards their goals. It is very important for each and every leader to communicate their ideas to followers. Communication

Business Valuation of Tesco Research Paper Example | Topics and Well Written Essays - 1000 words

Business Valuation of Tesco - Research Paper Example The paper discusses reasons resulting in the declining performance of Tesco. In the recession time, when other competitors like Wal-Mart, Sainsbury’s, and Carrefour have been facing severe problems, Tesco has adopted strong strategic plans to cope with the financial crisis. In the years following the financial crisis period, the company has reported a declining profit, despite the fact that profits yielding from its operations were greater, but the consumers’ behavior remained ineffective. Tough competition among competitive companies led by low-profit margin pricing and marketing activities has been observed during 2012-2013. The company has maintained strong policies and strategies to overcome obstacles (Miller, 2005). The analysis of the performance of Tesco shows that the competition has led the company to initiate steps to minimize its costs. It has enabled the company to increase its profit margin when consumers hesitate to spend. On the other hand, an effective a nd innovative platform in the operational side of the business has been observed (Naunheim, 2011).  As the consumer’s behavior model has changed in recent years, this strategy of Tesco has regained the confidence of consumers and has increased its sales volume. The analysis of the five-year financial information (see Table 1) depicts that the company’s stock price has been fluctuating with the changes under economic circumstances (Naunheim, 2011). Tesco’s stock price peaked during 2009-2010, whereas a gradual fall was observed in 2010-2011, but a major decline in stock prices was in 2012-2013 (Dinkhoff, 2009). According to financial data, there has been a major decline in 2012. Amongst competitors in the retailing and grocery merchandising industry, Sainsbury’s stock value has been gradually increased during 2009-2011. By the end of 2011, the company’s stock peaked, and after 2011 a gradual decline in the Sainsbury’s stock prices has been observed (Dinkhoff, 2009). Sainsbury’s market price has not fluctuated like that of Tesco during 2011-2012.  

ECON ASSIGN 1 Assignment Example | Topics and Well Written Essays - 500 words

ECON ASSIGN 1 - Assignment Example With the nation experiencing a recession and government over spending its annual allocations, the only choice that was left for survival was borrowing. The plan was effective in enabling the nation get through the recession. Another advantage of deficit spending is the fact that a nation or household is enabled to invest loan money and also benefit from the profits made from borrowing. In an argument by Baumol (2005) deficit spending allows a nation to create investment opportunities that are not included in the budget. The author further points out that the investment has potential of repaying its debt and creating a surplus. Baumol (2005) points out that deficit spending put future generations in debt that they did not benefit from. Large deficits spent may take years for them to be repaid. For years, the borrowed money may be used for investment which the current government may use the profits for other financial purposes. For this reason, the debts may be recurring for generation to generation. Deficit spending may also minimize the level o loan allocation for private organizations. Seater (2008) points out that, large borrowing from the government may reduce the rate at which investors and financial institutions offer the same services to private business entities. The crowding effect refers to the creation of financial and other resources deficits after over utilization by the government. Seater (2008) crowding out enables the government to be the only market determinant as private organizations does not have je opportunity to access financial and other resources. However, crowding out effect may also create investment opportunities in the market. The jap created by large borrowings provide an opportunity by wealthy private investor to capitalize on the situation. In analyzing the pros and cons of deficit spending, it is an

Leadership in project management Essay Example | Topics and Well Written Essays - 1500 words

Leadership in project management - Essay Example A view holds that leaders are people oriented and their main task is to inspire people. Their primary functional output is a change(Veal,2004) and their capabilities are assessed in terms of controlling the process of this change. That is to mould and control change to suit project's objectives. Whereas managers are task and process oriented and their main task is to organize such tasks and processes. Management's main output is task done in target time at target cost. In plain language Management is assigned the task of producing and maintaining a degree of predictability & order(Veal,2004). Leadership on the other hand assumes the function of producing change under a constantly updated schemata of direction and vision. Leadership is the process of motivating others to work to meet specific goals and objectives. Leadership is deliberately causing people-driven actions in a planned fashion for the purpose of accomplishing the leader's agenda. Subsequent to identification of role of leadership in project management it is clear that leadership physically comprises of an individual or set of individuals acting on common concert and vision. A set of qualities are generally stated in support of good leadership. Such qualities helps in execution of the agenda of leadership as defined above. These qualities are stated below corresponding to their importance in an information system project: (a) A project leader must have the capability to nurture and develop a vision and a concrete sense of direction in which to lead the team on. He must make the entire team convinced of his stance of an inspired shared vision. At least he should be able to convey his vision to critical members of the project team. "Visionary leaders enable people to feel they have a real stake in the project. They empower people to experience the vision on their own(Barry,Top). Bennis explains about the leaders that "They offer people opportunities to create their own vision, to explore what the vision will mean to their jobs and lives, and to envision their future as part of the vision for the organization," (Bennis, 1997). (b) A project leader is expected to have high level of problem solving skills(Barry,Top). He may share problem-solving responsibilities with the team .As Kouzes says that a leader must have a "fresh, creative response to here-and-now opportunities," and not much concern with how others have performed them. (Kouzes,1987).Thus he would be capable of giving new solutions to complicated problems and lead in dead ends. (c) A project leader must exercise a lot of empathy. There is vast amount of difference between empathy and sympathy(Barry,Top). Although the words rhyme, they, in fact have widely different meanings. According to Norman Paul, in sympathy the subject is principally absorbed in his or her own feelings as they are projected into the object and has little concern for the reality

Economics - Various Essay Example | Topics and Well Written Essays - 750 words

Economics - Various - Essay Example In the case of negative externality, one of the best examples is the concern regarding pollution. Consider a manufacturing company operating of garments marketed to Europe based in Northern Thailand. The operation of the company releases contaminants in sewage which has been linked to the decline fisheries in the lower regions of the Mekong River. In this case, the operations of the company are not impacted directly or the buyers of the products affected by the issue. To illustrate a positive externality, consider the case of state or governments providing police to ensure and monitor public safety using tax revenues. Public safety is mainly in the interest of social or public welfare. This is provided by the government or the state to its citizens but also has the effect of increasing the competitiveness’ of markets and confidence of investors. Social stability encourages foreign direct investments and economic sustainability. Mergers are a means of corporate or operational expansion, generally mutually contracted, with the objective of increasing competencies, streamlining or to consolidate market interests or economies of scale for long term profitability. To contrast it from acquisition, acquisitions usually entail one company buying or gaining control of another company. Mergers are considered to be more â€Å"friendly† than acquisitions but are also considered to be more challenging since it requires compromising more parties or interests (Lien, 2005). Mergers are mainly classified as horizontal, vertical or conglomerate. Other classification of mergers include congeneric mergers, reverse mergers, accretive mergers and dilutive mergers but these have more limited use in research and are considered in general under the aforementioned main classifications. Horizontal mergers occur when the companies involved have similar products

A Capstone Experience (Crafting a Strategy to fit the Business 2) Assignment

A Capstone Experience (Crafting a Strategy to fit the Business 2) - Assignment Example In creating a competitive advantage, a firm should develop ways of outshining the competing rival in the market. A weak strategy is one that could be different from the others, but can be accessed easily by other competitors (Kourdi 2003). It is difficult for the success of the company to come from one with a strong business model and a corresponding weak strategy. The companys strategy is meant to create a competitive advantage for the firm in the market place. It should act in the interest of the company to implement the requirements of the business model. A weak strategy would not meet the demands of the firm in the market, as it would be similar with the competitors, thus doing little good for the benefit of the firm (McGrath 2013). In conclusion, even with a strong business model, a weak strategy could lead to the fall of the firm. With a different product in the market, a firm could have a competitive advantage and outshine the other competitors. However, the success would not be possible with a weak strategy. The business model is the machinery part that strives to achieve the objectives of the business strategy. Thus, the weak strategy would undermine the working of the business model. A strong business model would work hand in hand with a strong

Serious dramatic deficiency Essay Example for Free

Serious dramatic deficiency Essay It is not only in period pieces, however, that the rejection of our countrys history and tradition robs actors performances of authenticity. In postwar Japans cultural climate, it is exceedingly difficult for actors in any type of role to convincingly express complex, deep or intense emotion — in fact, any dramatic emotion at all. To appear real, this sort of emotional expression demands exactly the right modulation and combination of subtle elements, including not only choice of words and facial expression, but also posture, gesture, tone of voice, direction of gaze, and distance from other actors. And the right modulation and combination differs from culture to culture. Every culture has its own framework of expressive conventions from which actors must draw in order to express emotion that will strike their audience as authentic. As long as Japanese actors refuse to work within the framework of emotional expression stipulated by Japanese culture, they cannot express dramatic emotion in a convincing manner. The famed Meiji-era novelist Natsume Soseki once taught his students that the true Japanese translation for I love you is Tsuki ga tottemo aoi na (The moon is so blue tonight); what he meant was that to express within the Japanese cultural framework the same emotion expressed in English by I love you, one must choose words like The moon is so blue tonight. Since every culture evolves naturally over time, the cultural framework for emotional expression is by no means immutable. But in post-war Japan the process of change has been unnatural and rushed. Regarding their traditional modes of expression as archaic and feudalistic, and eager to Westernize, the Japanese have attempted to adopt the Western (more specifically, the American) expressive framework wholesale. Yet given that they continue to use the Japanese language as their vehicle for verbal expression, any attempt to affect a de-Japanized manner at this level is half-baked. Today, one might say, a Japanese person is unable to convincingly express passion for another either by the English I love you or by the Japanese The moon is so blue tonight. This may be why, since the 1980s, young people in Japan have increasingly disdained the expression of serious or dramatic emotion as kusai, or corny, and prized the appearance of emotional detachment as kakko-ii, or cool. In terms of dramatic expression, then, the Japanese film labors under a heavy burden. If it portrays emotion within the traditional Japanese framework, it may achieve authenticity, but the effect is antiquated. If it portrays emotion within the Western framework, it comes across as meretricious and unconvincing. Films that try to blend the two modes often end up antiquated and unconvincing. Yet in animation, which lacks visual realism and features de-Japanized characters to begin with, the expression of emotion paradoxically takes on a more convincing sense of reality. This may explain why most of the serious and ambitious film efforts have used the vehicle of anime. Given the serious dramatic deficiency, Japanese live-action films can no longer tackle any serious or profound subject matter. In the context of contemporary Japanese film, then, anime often conveys a greater sense of reality than live-action films. The thin, insubstantial reality of animated film, that is to say, is more alive — literally, more animated — than the flesh-and-blood reality. And if anime is perceived as more real (i. e. , closer to physical reality) than live-action, this means that, increasingly, anime embodies the Japanese consciousness of reality. The Japanese conception of reality is undergoing a process of animation. The rise of anime as well as manga is a cultural by-product of modern Japans tendency to promote modernization and Westernization while rejecting its history and traditions. A medium that fuses elements of East and West, and lacks a clear national identity, could be considered international in a certain sense, and this is doubtless a major reason why anime has so many fans overseas. But the current state of affairs, in which anime represents the mainstream of Japanese cinema, is by no means desirable, inasmuch as it signifies an ever-widening gap between physical reality and peoples conception of it.

What Are the Benefits of Workplace Diversity?

What Are the Benefits of Workplace Diversity? As the whole world market changed into globalization, the diversity management becomes a major issue to manage. So diversity management plays an important role in the successful running of the operation in an organization. Basically the diversity term refers to the difference in the peoples value which makes them unique. These differences includes their gender, race, religion, culture, physical or cognitive ability, national origin, age or family structure. Diversity is defined as an aggregate team-level construct that represents differences among members of an interdependent work group with respect to a specific personal attribute. (Joshi, A., Roh, H.(2009)) In a diverse environment people can benefit and learn more from others ideas. Many organizations found that recognition of these differences as prerequisites for high performance and continuous improvement, and this could lead towards the effectiveness and creativity of the organization. So these companies always encourage a culture that supports and inspires personal growth both within the workplace and beyond. Mentoring, training, career mobility, and work-life balance programs are just a little of the initiatives that bring to life the forward-thinking approach. On the other hand there might be some drawback of the diverse environments like having much disorganization between different groups could cause lack of productivity and promote few well-built relationships. Diversity Management: Diversity Management is the key issue especially for HR department of an organization because if they run it very well they can increase the profitability of the organization or the vice versa. Actually differences between people persuade about how they feel or behave on an action. And of course these differences also influence the way people work. If the organization takes these differences into account, it helps them to make optimal use of all capacities or capabilities in their employees, and thus have an optimistic influence on both the quality and amount of work that gets done. This is the utmost aim of Diversity Management. In the text book, Beyond Race and Gender, R. Roosevelt Thomas defines managing diversity as a comprehensive managerial process for developing an environment that works for all employees. A successful strategic diversity plan also directs to increased profits and lowered operating cost. In an organization, we have to be aware and sensitive to the differences among employees. What can be unpleasant to one group may be fine for another. For example, showing the base of shoes is not a massive deal in the United States. However, in other countries its an unlikable gesture. If youre aware of that, you might not want to offend someone by allowing the bottom of your shoes to show while in his presence. Thats a minor example, but when these kinds of offends occurs at larger, may caused significant problems. Productivity can also be suffered, people could get hurt and a toxic work atmosphere may result. A process intended to create and maintain a positive work environment where the similarities and differences of individuals are valued, so that all can reach their potential and maximize their contributions to an organizations strategic goals and objectives. (U.S. Department of Veterans Affairs, Office of Diversity and Inclusion) How diversity management program runs in an organization through HR department could be well explained through below diagram Europe has an increasingly diverse working population, with people of many different backgrounds playing a greater role in the European labour market. This diversity reflects not only population changes due to immigration and mobility between regions and EU member states, but also an increasing recognition of the problems and issues facing a range of marginalised groups in the labour force, such as women, people with disabilities and older workers. International Journal of Human Resource Management, Feb2009, Vol. 20 Issue 2, p235-251, 17p, 1 Diagram Diagram; found on p245 At conclusion Diversity management means recognizing that people are different and using that difference to enhance the profitability and/or effectiveness of your organization. The successful management diversity allows organizations to: Attract and retain talent Increase productivity by reducing the hours wasted on dealing with internal disputes Develop a competitive edge. Encourage creative thinking by valuing the diversity within teams. What Are the Benefits of Workplace Diversity? By Neal Litherland, eHow Contributor .I want to do this! Whats This? .. Ever since John Kennedy was the president of the United States, the concept of workplace discrimination, and the flip side of that coin which is workplace diversity, has been a common issue. However, workplace diversity offers many positives for employers and employees. .Perspectives Having a mix of cultures, ethnicities and ages in the workplace can bring a variety of points of view to any project. As such, problems can be thought out and viewed from fresh eyes. Tolerance Working with people who come from different backgrounds and walks of life enhances the personal tolerance levels of every individual employee. Fairness A more diverse workplace is viewed, from an outside perspective, as being more open to accepting qualified applicants. Often an employer is seen as color blind, hiring purely on the merit of its employees. Skill Set When a workplace has a number of different demographics it gives the company a much broader skill set to draw upon, including cultural understanding and foreign language. Legal Protection One of the clearest, though not as often quoted, benefits of a diverse workplace is that it is less likely that an employer will be the subject of discrimination claims. Building the Case Since the early 1990s evidence has been mounting to suggest that there are numerous benefits associated with the adoption of sound diversity management programmes by employers. You will need to understand the benefits for adopting such an approach, if and when you decide to start building the case for implementing a diversity management programme within your organisation. Over the last number of years, a variety of researchers have detailed the benefits of adopting a diversity management approach such as: Improved performance/productivity (Agocs and Burr, 1996; Richard, 2000) Increased creativity/flexibility (Cox and Blake, 1991; Robinson and Dechant, 1997) Higher quality problem-solving (Cox and Blake, 1991; Hubbard, 1999) Improved understanding/penetration of markets (Cox and Blake, 1991; Robinson and Dechant, 1997) Increased staff morale and job satisfaction (Agocs and Burr, 1996) Improvements in staff retention/less absenteeism (Agocs and Burr, 1996; Robinson and Dechant, 1997) Less law suits (Robinson and Dechant, 1997) Human Resource associations have also identified benefits of diversity management. According to the Society for Human Resource Management, the following are five key factors that make diversity initiatives important to businesses: Diversity initiatives can: Improve the quality of your organisations workforce and can be a catalyst for a better return on your investment in human capital. Capitalize on new markets since customer bases are becoming more diverse. Attract the best and the brightest employees to a company. Increase creativity. Increase flexibility, ensuring survival. Source:  http://www.shrm.org/diversity/businesscase.asp In 2000 and 2001, Mi.st [ Diversity Consulting conducted a survey of business leaders throughout Europe and found that the four benefits of diversity most often mentioned were: Improved team effectiveness and cooperation (interpersonal) Increased productivity (individual) Improved customer intimacy (consumers and markets) Broader access to labour markets (recruitment) Results from this survey were analysed and all the benefits of Diversity and Diversity Management were summarised in the following table: Results Externally Internally Consumers/Markets Increased market share Ease of entry into new markets Improved customer intimacy Individual Increased productivity Improved morale and commitment Shareholders Enhanced rating Improved attractiveness Interpersonal Improved team effectiveness and cooperation Easier integration of new staff Labour markets Broader access to labour markets Improved employer image Organisational More openness to change Enhanced effectiveness of complex organization Community Improved public image Source: Michael Stubor (2002): Corporate Best Practice: What some European Organizations are Doing Well to Manage Culture and Diversity. In G. Simmons (Ed.), Eurodiversity: A Business Guide to Managing Difference, Butterworth-Heinemann, London Alongside the benefits outlined above there are other background forces that drive the adoption of a diversity management approach by employers. Two common forces are described below: Labour Force Supply Issues The composition of the labour force in the EU is changing on an ongoing basis. Two of the most important changes in recent years are: The ageing of the workforce The enlargement of the EU giving rise to a larger presence of ethnic minorities As a result, employers need to be able to successfully accommodate a more diverse range of employees.   Costs of Discrimination Cases Although, anti-discrimination legislation has now been introduced in a number of European countries, employees are still facing prejudices that circulate in the workplace. This gives rise to employees taking discrimination cases against their employer, which can be damaging for the employer in terms of negative public opinion and high costs. An effective diversity management approach should give rise to an environment that benefits all employees, where they feel valued and empowered and are enabled to reach their full potential. In such a positive environment it is highly unlikely that an employee would bring a discrimination case against their employer. Footnote: References   Agocs C. and Burr C. (1996):  Employment equity, affirmative action and managing diversity: assessing the differences, International Journal of manpower, Vol. 17, No. 4, pp30-45. Cox T. and Blake S. (1991);  Managing Cultural Diversity: implications for organizational competitivenes  s, Academy of Management Executive, Vol. 5, No. 3, pp45-56. Hubbard E. (1999):  Diversity and the Bottom Line: Facts, Figures and Financials, Diversity Factor, Vol. 7, No. 4, pp29-33. Richard O. (2000):  Racial diversity, business strategy, and firm performance: A resource-based view,  Academy of Management Journal, Vol. 43, pp164-177. Robinson G. and Dechant K. (1997):  Building a Business Case for Diversity, Academy of management Executive, Vol. 11, No. 3, pp21-31. Implementing Diversity Management A major aim of this website is to support the development and implementation of diversity management programmes in the workplace. This is achieved in two main ways: Providing general information to users about diversity management issues, policy and practice   this is achieved through the main areas of website which provide information on: What is diversity management Building the case Policy and legislation Diversity management themes Case studies Awards Links to useful websites   Providing support to the process of design and implementation of diversity management in enterprises   this is achieved through two main applications:   The diversity management toolkit The e-learning course on diversity management If you wish to implement a diversity management programme, the diversity management toolkit provides support in two main ways: It describes a  5 stage process  of how to implement a diversity management programme in your workplace It provides  tool support  for each of the activities you must undertake when implementing a diversity management programme in your workplace The e-learning course on diversity management is designed to raise awareness of diversity management amongst the participants in a diversity management programme. A major task in implementing diversity management is to ensure that all employees affected by the programme are fully aware of diversity issues and the approach which is being taken to them. The e-learning course is designed to inform employees of the basic issues and approaches to diversity management and to justify the need for an active diversity management policy in your organisation. Madison Co. à ¢Ã¢â€š ¬Ã‚ ¢Fortune Small Business Magazine recently had an article about a small company in Connecticut, Madison Co., that had an employee go through a major change. Over the course of time, one of its supervisors, Ann Ferraiolo had altered her look, and, then one day, came to work after an operation and was now Tony, a male. As a manufacturing company, the company president, Steve Schickler, understood what could happen. Instead, he decided to intercede early to make things more comfortable for his supervisor, and let other employees know the company position. He and his human resources director made sure every employee knew to treat Ferraiolo with respect, both before and after the operation. They decided to support the supervisors sex change, and the company has never missed a beat. Xerox Mentoring Programs à ¢Ã¢â€š ¬Ã‚ ¢Xerox was ranked No. 35 in 2009 by DiversityInc. It was one of the first international organizations to publicly make diversity a center of their mission back in the 1970s. This led to many mentoring and fast-track programs, and now minorities make up around 20 percent of its management staff, women make up nearly one-third, and black women, a group Xerox has worked with the most, recognizing their disadvantage in many organizations, makes up 20 percent of that group. This is a case where a subgroup of an already disadvantaged group might need to be addressed more thoroughly when looking at diversity issues overall. Why the Toolkit is important It is best to view the development and implementation of diversity management policy in your organisation as a project. This means that it should be treated in the same way as you would any other project. You will need to build support for the project, analyse the needs and opportunities, develop your own solutions and then implement and monitor the project as it progresses. This implies the need for effective project management tools and techniques. The DiManT toolkit provides you with a set of information, methods and techniques, which have been specifically designed to ease the process of implementing a diversity management project. The way that you use the toolkit is up to you. You may pick and choose only what is relevant for your purposes. You will find a search facility to help you locate the tools that you need. However, if you want to begin the process of diversity management programme implementation from the beginning, you are advised to use the follow the process outlined in the toolkit. There you will find a complete guide to the activities you should undertake. The process is described in terms of a set of phases of activities, each of which has specific aims and each of which is supported by a number of tools. Click on the diagram for more information. Policy and Legislation There is an increasing amount of policy and legislation initiatives in relation to diversity management at both EU and national levels. In this section you will find short descriptions of and reference to the main legislative and policy actions at both of these levels. Initiatives in the area of equality, disability, employment, ageing, gender and others are relevant here. They provide the backdrop for the development of diversity management programmes at workplace level. EU Legislation National Legislation Themes Age Disability Ethnicity and Race Gender Religion Case Studies This section provides a set of real life case studies of a range of diversity management issues. Two types of cases are presented: Company case studies Legal case studies The legal case studies section gives brief overviews of a range of legal cases which relate to diversity management. In the main, they relate to court judgements taken under antidiscrimination, disability and employment law, and they illustrate the ways in which violations of these laws are treated. The company case studies present a best practice view of how a range of organizations have developed and implemented diversity management programmes. They provide insight into what are the elements of good practice and into how diversity management programmes evolve in practice. Diversity management has become one of the primary challenges for HRM as organizations become diversity worldwide. (Benshchop, 2001: 1166; DNetto Sohal, 1999: 530) Resistance to  diversity programs may not only come from the majority but also minority groups. Diversity planners may be failing to include or consider the majority groups in their strategies and this is one of the reasons of backlash and discrimination. (Frase-Blunt, 2003: 138) Ireland Degraded Employee Wins Case Mr Gabriele Piazza had claimed that the Clarion Hotel had directly discriminated against him due to the fact that he was gay. He said he was harassed in relation to his conditions of employment, in particular on three occasions. He said that there had been a number of incidents when reference was made to his sexual orientation in a degrading manner. The incidents had happened in front of various staff members who had found the situation funny, however he had not, he said. Mr Piazza said that in one incident, it came to his attention that emails from his manager were being sent to the human resources manager. He found the mails personally offensive and degrading. In one, he was referred to as just a bloody woman and a spoilt child. When he challenged the HR manager about the emails, she ripped them up dismissively in front of him. In another incident, an employee made a comment of a sexual nature which Mr Piazza found offensive and degrading. He asked the person in question to stop making the comments, however the level of harassment increased. Mr Piazza insisted that in the six months of his employment, he received no help or assistance from his manager or any member of the hotels management team. Following an investigation by the Equality Tribunal, Mr Piazza was found to have been discriminated against by the hotel on the grounds of his sexual orientation. He was awarded à ¢Ã¢â‚¬Å¡Ã‚ ¬10,000 compensation for harassment, distress and a breach of his rights under the Employment Equality Act, 1998. The hotel was also ordered to provide an equality training seminar to all staff, including management, within three months. Source: http://www.irishhealth.com/?level=4id=6159 Council Employee Wins Race Case A council housing department worker has been awarded more than  £44,000 after winning a racial discrimination case. Surveyor Lakhbir Rihal complained four years ago that less-qualified white colleagues were promoted over him at the London Borough of Ealing. The council lost an employment tribunal case but appealed to the Court of Appeal, which upheld the decision. The tribunal found a glass ceiling prevented ethnic minority staff from securing senior management roles. Paul Kenny, a senior official of the GMB union, which supported Mr Rihal, said: The leader of the council should do the decent thing and resign. Because the council failed to act, they have cost Ealing ratepayers hundreds of thousands of pounds. The union said it wanted the Commission for Racial Equality (CRE) to conduct an investigation into race relations in the councils housing department. Ealing Councils interim head of legal services, Chris Hughes, described the Court of Appeals decision as disappointing. He said: We pursued this case because we believed the original employment tribunal had erred in law in its decision. The council remains committed to equal opportunities for all its staff, a fact which is reflected in the current statistics of black and ethnic minority staff in the housing department. At present 38% of senior staff working in the housing department are black or ethnic minority, which clearly reflects the population trends in the borough as a whole, a fact which was not before the Court of Appeal. Culture of White Elitism Tom Dent, director of Housing and Environmental Health, added: The background to this case is now over four years old. Since then we have been improving our services in housing and were encouraged by last years external auditors report which found that we were compliant with the Commission for Racial Equalitys code of practice in the rented housing sector in both service delivery and employment. But Lord Justice Sedley said the lack of ethnic minority managers suggested a clear possibility there was a culture of white elitism in the upper echelon of the housing department. Mr Rihal, who has worked for Ealing Council for 12 years, told BBC London: I would like the council to take notice of these things and to at least give a fair chance to Sikh people like myself who are highly qualified. He still works for the council and is applying for promotion. Source: BBC NEWS http://news.bbc.co.uk/go/pr/fr/-/1/hi/england/london/3771403.stm Business Case for Diversity and Equality Todays business environment is changing. The average age of the workforce is rising steadily and women now make up nearly half the workforce in the UK, double the numbers of 25 years ago. Projections show that in less than ten years time there will be two million more jobs in the economy 80% of which will be filled by women. McJobs for all the Family 05-02-2005 McDonalds is pioneering a scheme that allows employees to share their job with family members. The Family Contract allows husbands, wives, grandparents and children over 16 to job-share and swap shifts without notifying management. The concept of diversity not only values and respects individuals, but recognises that everyone has different needs. Under the contract, which is the first of its kind in Britain, each worker clocks on and is paid separately through his or her own bank account. It is being tried in six cities around Britain. Co-habiting partners and same-sex partners can apply and, if it proves successful, McDonalds said it would expand it to include friends and extended family such as cousins. David Fairhurst, the head of McDonalds UK human resources operation, said: A lot of our staff wanted more flexibility. Many are youngsters at college who have very different term hours and holiday hours. Many older staff have children, with all the demands that entails; many look after relatives. So we decided to offer them the flexibility in a family context. McDonalds, which has 67,000 staff in 1,250 British restaurants, said flexible working reduced the number of sick days. It said the scheme was supported by the Department of Trade and Industry. The first family to sign up for a Family Contract were Rita Cross, 42, and her two daughters Laura, 18, and Natalie, 16, in Cardiff. Laura said the main advantage of the arrangement was its flexibility. We get up in the morning and decide which of us really wants to go to work, she said. Mrs Cross said it helped the whole family. We get a better work and life balance. Id love my husband to join up too, so that we can all plan our work and family life as one unit. BIBILIOGRAPHY Mor Barak, Michalle E. : Managing diversity: towards a globally inclusive workplace 2nd edition ( Sage Publication ) page 140. International Journal of Human Resource Management, Feb2009, Vol. 20 Issue 2, p235-251, 17p, 1 Diagram Diagram; found on p245 U.S. Department of Veterans Affairs, Office of Diversity and Inclusion. (n.d.). Diversity management. In Glossary. Retrieved May 8, 2009, from http://www.diversity.hr.va.gov/glossary.htm http://www.irishhealth.com/?level=4id=6159

The Real Madrid Football Club

The Real Madrid Football Club Real Madrid Club or what is more commonly known as Real Madrid has been perpetually considered as a money maker through its many ways of doing business and generating profit. This professional football club in Madrid, Spain has been attributed, with each rich history, to be earning millions of euros in its operation. The Santiago Bernabeu Stadium itself has been giving a lot of income for the club through the sales from the tickets of every football game. Fans flock the stadium and they actually pay too little attention with how much they pay compared to the benefit of the satisfaction that they get for every game seen. One of the easiest ways in which they earn money is through their museum in which people pay in order to experience a tour and to be able to witness the rich history of their football club unfolding right before their eyes. For a die hard football fan of the team, the entrance fee to the museum can be assumed to be nothing compared to what you will see inside. Being the most valuable football brand inEuropeand being one of the best brands in the world, it is indeed worth throwing extra amount just to have a fair share of the Real Madrid experience. Another way in which Real Madrid is earning money is through its players. The football players of the club are very well established and known in the global landscape of sports and advertising since they have actually become valuable brands themselves. A big part of their revenue can be attributed to the shirts and jerseys with their names which are selling like pancakes, especially for the fans. Not only through the shirts, they are also available through other items which can serve as an unforgettable memento of the club. For instance, David Beckham playing for Real Madrid has earned them a lot of euros especially considering the fact that Beckham is a global sports icon and that his brand value is very high. Every Beckham item being sold is a sure fire hit for the club to earn. RealMadridretains fifty percent of the image rights on every endorsement made by its players. In the case of Beckham, Real Madrid has the right to half of every earning from any endorsement made by the lege ndary and world-renowned football player. Like Beckham, Cristiano Ronaldo is also one of the major players of the club which is attributed to be a money maker. When Ronaldo was bought by Real Madrid from Manchester United, the club was then very much aware of how this deal will increase the value of their team and how they will generate more money in exchange for paying a huge amount just to acquire Ronaldo. Kaka being a member of the team is also another factor which will continue to increase the market value of Real Madrid and therefore would give the club more opportunities to generate more money. Another way in which Real CMadrid is earning money is through advertisement. The football clubs stadium is full of ads from companies such as Coca Cola, Adidas, and Audi. The names of these companies scattered all over the club, and being attached on the uniforms of the players is money making machine for the company. They are paying Real Madrid a lot of money just to have the names of their brands associated on the name of the football club. From that way, the companies will benefit because during the game, the fanatics can be able to see the brands being advertised. As a global brand name and a rich football club, Real Madrid is also an economic force more than just being a sports team. The prestige of the club itself coupled with acquiring some of the best players in the field of football are both contributory to the profit which the club has been generating. The company employs marketing strategies which will give them the pitch for both sports and business. The Santiago Bernabeu itself, serving as a venue for their game, can be already classified to be giving them passive income with every game. When the seats are taken, then the club is enjoying rocketing revenues. Their VIP areas balconies, which are sold at a higher price, are also giving them a lot of earnings. The Bernabeu has been also regarded as having a special magic which inspires visitors with the experience of the club. The merchandising efforts of the club, particularly as far as the players are concerned, could be assumed as the greatest money maker. It allows them to earn through the use of the clubs brand and the popular image of their world-class football players. QUESTIONS: 1. If you were part of the management of Real Madrid, what other marketing efforts would you extend to improve the image of the brand and to generate more profit? 2. Beckham and Ronaldo are some of the players generating profit for Real Madrid. Do you think that Real Madrid is successful only because of the popularity of their players which increases the brand value of the football club? 3. What is the sustainable competitive edge of Real Madrid against its competitors? 4. It is said that what Real Madrid lacks is a global marketing strategy. How do you think such aspect can be improved?

The Greek hero vs. The Anglo-Saxon hero :: Comparison Compare Contrast Essays

The Greek hero vs. The Anglo-Saxon hero The hero stands as an archetype of who we should be and who we wish to be. However, the hero has inherent flaws which we do not wish to strive towards. In literature, these flaws are not used as examples of what we should be but rather as examples of what not to be. This is especially dominant in the Greek hero. While the Greek hero follows his fate, making serious mistakes and having a fairly simple life, the Anglo-Saxon "super" hero tries, and may succeed, to change his fate, while dealing with a fairly complex life. The Greek hero is strong and mighty while his wit and intelligence are highly valued. In the Greek tragedy, the hero struggles to avoid many flaws. Among these flaws are ambition, foolishness, stubbornness, and hubris-the excessive component of pride. He must overcome his predestined fate-a task which is impossible. From the beginning of the tale, it is already clear that the hero will ultimately fail with the only way out being death. In Oedipus, the hero is already c onfronted with a load of information about his family and gouges his eyes out. At this point, when he tries to outwit his fate he has already lost and is sentenced to death. The Anglo-Saxon hero must also deal with his "fate" but tries, and usually succeeds, to change it. While the Greek hero battles his fate with his excessive pride and intelligence, the Anglo-Saxon hero tries to eliminate his doom by force. The Anglo-Saxon hero is considered a barbarian of sorts due to his sometimes unethical and immoral views and courses of action. At the end, the Anglo-Saxon succeeds in altering his fate though. The Greek hero is so normal, that the reader can relate to him. He is usually a "common" human being with no extraordinary life. His story seems believable, even possible. We would have no hard time imagining the hero's conflict as being ours. As in the case with Oedipus, we can understand how he feels it would be possible for his circumstances to be applied to our lives. Although the details may seem a little farfetched it is not impossible that there is some truth to the story. On the other hand, the Anglo-Saxon hero, being super-human, is especially difficult to relate to. The Anglo-Saxon may reach the same pedestal as a God.

The Poet Wallase Stevens :: essays research papers

Research Paper ;Inside the Gray Flannel Suit Rationalists, wearing square hets, hink, in square rooms, sp;Looking at the floor, Looking at the ceiling, They confine themselves To right-angled triangles. If they tried rhomboids, Cones, waving lines, ellipses- As for example, the ellipse of the half moon- Rationalists would wear sombreros. "Six Significant Landscapes" (Collected Poems p.73-75) Wallace Stevens is considerd one of the most important poets of this century. His style was unique and diffrent. The way he used words to optain the reality of something that can't be touched, is an amazing and brilant talent. Stevens was a very successful lawer and business man as well as a great peot. We usually think of peots and artists as "starving artists." Stevens was a very accommplished lawer and was still able to write beautifull peotry. His peoms useually contadicted his lifestile, but that might be were he got his insperation. He had a wife, family, and career, he had a very queit lifestyle. But, his peotry is very loud and abstract. Wallace Stevens was born in 1879, in Reading, Pennsylvania. As a child, he started out at parochial schools, and later enrolled in public schools. Wallace's parents encourage him to read, which helped him become a better writter. In school, Wallace was an excellent student. After high school, he continued his education at Harvard University, where he became involved with two Harvard newspapers, first the Advocate and then the Harvard Monthly. After leaving college, he moved to New York City. He worked as a journalist, and considered a literary career. But, his father encouraged Stevens to become a more practical career in the law business. He worked as a lawyer for a few years in New York. He worked at different firms and then at the Fidelity and Deposit Company. He finally settled at the Hartford Accident and Indemnity Company, where he became the vice president for the rest of his life. It was like Stevens led two separate lives, one of a business man and one as a poet. Stevens himself once said in a New York Times interview, "I prefer to think I'm just a man, not a poet part time, business man the rest. This is a fortunate thing, considering how inconsiderate the ravens are. I don't divide my life, just go on living." Many of Stevens' fans are often surprised when they learn of Stevens' life as a business man. As mentioned earlier, Wallace Stevens' work reflected his life in many The Poet Wallase Stevens :: essays research papers Research Paper ;Inside the Gray Flannel Suit Rationalists, wearing square hets, hink, in square rooms, sp;Looking at the floor, Looking at the ceiling, They confine themselves To right-angled triangles. If they tried rhomboids, Cones, waving lines, ellipses- As for example, the ellipse of the half moon- Rationalists would wear sombreros. "Six Significant Landscapes" (Collected Poems p.73-75) Wallace Stevens is considerd one of the most important poets of this century. His style was unique and diffrent. The way he used words to optain the reality of something that can't be touched, is an amazing and brilant talent. Stevens was a very successful lawer and business man as well as a great peot. We usually think of peots and artists as "starving artists." Stevens was a very accommplished lawer and was still able to write beautifull peotry. His peoms useually contadicted his lifestile, but that might be were he got his insperation. He had a wife, family, and career, he had a very queit lifestyle. But, his peotry is very loud and abstract. Wallace Stevens was born in 1879, in Reading, Pennsylvania. As a child, he started out at parochial schools, and later enrolled in public schools. Wallace's parents encourage him to read, which helped him become a better writter. In school, Wallace was an excellent student. After high school, he continued his education at Harvard University, where he became involved with two Harvard newspapers, first the Advocate and then the Harvard Monthly. After leaving college, he moved to New York City. He worked as a journalist, and considered a literary career. But, his father encouraged Stevens to become a more practical career in the law business. He worked as a lawyer for a few years in New York. He worked at different firms and then at the Fidelity and Deposit Company. He finally settled at the Hartford Accident and Indemnity Company, where he became the vice president for the rest of his life. It was like Stevens led two separate lives, one of a business man and one as a poet. Stevens himself once said in a New York Times interview, "I prefer to think I'm just a man, not a poet part time, business man the rest. This is a fortunate thing, considering how inconsiderate the ravens are. I don't divide my life, just go on living." Many of Stevens' fans are often surprised when they learn of Stevens' life as a business man. As mentioned earlier, Wallace Stevens' work reflected his life in many

Survival Processing Essay -- Sociology

Numerous studies have shown the human mind has a heightened ability to encode information relevant to our survival. During the standard paradigm used for proving a basis for survival processing, participants were instructed to imagine themselves in an unknown grassland without access to basic needs (Kostic, McFarlan, & Cleary, 2012). The subjects were then asked to rate a list of items based on how useful they would be given the survival scenario (Kostic et al., 2012). Following a short delay, the participants were then asked to recall or recognize items, which had previously been presented (Kostic et al., 2012). Based on the findings researchers were able to conclude words pertaining to our survival are better retained then words that are not, even when the survival scenario was changed to various situations such as a bank robbery (Kang, McDermott & Cohen, 2008), a vacation scene (Nairne, & Pandeirada, 2008), or survival in a large city setting (Nairne & Pandeirada, 2010). Although recent research has been able to clearly define what survival processing is there are more aspects, which have been explored and investigated which will be discussed within the confines of this paper. The two main areas that will be focused on are the mechanisms responsible for this phenomenon and some of its limitations; a conclusion will then be drawn on future directions of study within this topic. It could be assumed face perception would fit the criteria of important survival information and thus the advantages of survival processing would also be in effect. Yet a study conducted by Savine, Scullin and Roediger (2011) looked at survival processing in relation to faces to test if this was a limitation of this type of processing. Researchers cond... ... Cognition, 33(2), 263-273. Nairne, J. S., & Pandeirada, J. S. (2008). Adaptive memory: Remembering with a stone-age brain. Current Directions in Psychological Science, 17, 239–243. Nairne, J. S., & Pandeirada, J. S. (2010). Adaptive memory: Ancestral priorities and the mnemonic values of survival processing. Cognitive Psychology, 61(1), 1-22. Savine, A. C., Scullin, M. K., & Roediger, H. (2011). Survival processing of faces. Memory & Cognition, 39(8), 1359-1373. Smeets, T., Otgaar, H., & Raymaekers, L. (2012). Survival processing in times of stress. Psychon Bull Rev, 19, 113-118. Tse, C., & Altarriba, J. (2010). Does survival processing enhance implicit memory?. Memory & Cognition, 38(8), 1110-1121. Weinstein, Y., Bugg, J. M., & Roediger, H. (2008). Can the survival recall advantage be explained by basic memory processes?. Memory & Cognition, 36(5), 913-919.

A View from the Bridge Essay Essay

A View From The Bridge’ is a play that was first staged in 1955. It was written by Arthur Miller. Arthur Miller was born into a Jewish family in New York in 1915, whose grandparents had come to America from Poland. When the family business failed, they moved to Brooklyn, where A View from the Bridge is set. There, Miller worked in a warehouse to earn money for his university fees. He began to write plays when he was in university and continued to write them after he graduated and became a journalist. In the play, loyalty dictates the events very strongly as because of Eddies mixed emotions for Catharine he chooses to be more loyal to her than to all of his family. Miller shows the importance of loyalty through Eddie telling Catharine the ‘Vinnie Bolzano’ story. Catharine’s reaction shows the audience that in Italy, family loyalty is the most important thing as Catharine is both shocked and horrified that Vinnie snitched on his own Uncle this is why she shockingly says ‘The kid snitched? Miller uses this as an opportunity to tell the audience that the Italian American community is very loyal, which makes Eddie’s betrayal even more shocking. Because Vinnie snitched on his Uncle he could never show his face in public because every one despised and loathed him this is why Beatrice says ‘I never seen him again’. This also shows that the Italian American Community has a very ‘if you snitch on one of us, you snitch on all of us’ mentality. Another way that Arthur Miller portrays the importance of loyalty in the play is the references Eddie uses to Catharine’s Mother. this quote shows that Eddie tries to use the promise he made to Catharine’s Mother as an excuse for being so strict and this is why he says ‘I promised your Mother on her death bed’. This is why he doesn’t want her working in the dodgy part of town; where as it is because of the emotions he feels toward Catharine and he doesn’t want her to have another male figure in her life who could be more important than he is. One of the most important scenes in the play is the ‘Phone Call’ scene which shows Eddie changing his loyalties from his family and friends, to just Catharine. ‘Give me the number for the immigration bureau’ this shows Eddie doing what Vinnie Bolzano didand snitching on Marco and Rodolpho, he does this because of the mixed and confusing emotions he feels for Catharine. Miller also uses stage  directions in the scene such as ‘A phone booth begins to glow on the opposite side of the stage; a faint, lonely blue’ I think that Miller uses the Lighting on the phone booth to show the audience the conflict going on in Eddie’s head; to loose every thing (his family and friends friendship, love, trust and loyalty) but keep Catharine for himself When the immigration officers arrive at the house, Eddie looses the respect and loyalty from his family. Beatrice realizes what Eddie has done when she says‘My God, what did you do? ’. She is completely shocked and horrified as Eddie was a loyal and family orientated man. Miller uses this quote to show the audience that Beatrice is astounded and aghast that Eddie has chosen Catherine over her, even though she is his wife. Marco is furious with the fact that Eddie has just ruined any chance of him getting an American citizenship, this now means that Marco wouldn’t be able to get a well paid job and support his family back in Italy. This is why he says ‘That one! He killed my children! That one stole the food from my children’ this is because although Eddie hasn’t directly murdered Marco’s family, his actions will lead to Marco getting deported and he wouldn’t be able to give his family money to buy food and they would consequently die. The audience would be shocked by what he is saying as he is insulting Eddie who Miller has made out to be the confused character who although he is doing something terrible he thinks that he is doing it for the right reasons, and the audience would therefore feel sorry for him. Miller uses the loyalty theme to show the weakness of men, Eddie betrays his family and community because of the mixed emotions he feels for Catharine.

Eli Lilly: Developing Cymbalta

Eli Lilly and gild is a pharmaceutic corporation that was established in 1876 by Colonel Eli Lilly, who had served in the union army during the civilian War. One of the crossways the company developed includes the antidepressant drug drug drug drug drug fluoxetine hydrocholoride, which has been a legendary point of intersection for the company and has generated billions of dollars since its lance. As fluoxetine hydrocholorides patent expiration date approached, thereby every(prenominal)owing the sale of generic versions in the U. S. , the company decided to pursue a intersection point to replace fluoxetine hydrocholoride, named Cymbalta.John Kaiser, the foodstuffing theater director at Eli Lilly and member of a cross-functional R&D team, new anti-depressant team (NAT), has been taxed to crest this effort. Kaiser prepared a presentation around the voltage successor, Cymbalta, and convened a meeting with the NAT members to handle its future potential. The goal of the me eting was to wholesome analyze and discuss the pros and cons about Cymbaltas reading and strategic opportunities based on the un resembling options of use. This paper will constitute the strategic issues and problems the NAT faced in maturation the new crossway.The paper will whence analyze and evaluate the industry and market behavior by using a SWOT analysis. Finally, this paper will offer up a limit of recommendations based on the surrounding circumstances and options available to the Eli Lilly team. appellative of the strategic issues and problems Eli Lilly and companys NAT members began the work of searching for a favored heir to Prozac by looking into the strategic choices, possibilities, and successful launch of a electrical switch shortly after the expiration of Prozacs patent.Cymbalta was considered as a possible successor to Prozac be face it seemed a) to be as good as or break away than existing antidepressants, b) to show no signs of gum elastic precauti ons or toxicity issues, c) to meet former unmet enduring needs, and d) to show promising signs of knowledge as a produce to similarly treat distract, especially if it did not cause special side effects. However, when Lilly developed Cymbalta butt in the early 1990s, for the major depressive perturbation (MDD) market, the product failed to show satisfactory levels of qualification for treating MDD in phase 2 runnels in 1993.Additionally, Lilly had so little experience in the therapeutic area. Moreover, there were variances in the opinions of Neurologists and Psychiatrists tie in to the symptoms of infliction, such(prenominal) as chronic cover bruise or recurring trouble tied to opinion. Those variances could peril the decision make process from the top management. Also, since there were no clear guidelines from the Food and Drug memorial tablet (FDA), for the development of pain indications associated to depressive disorder, the likelihood of FDA panegyric was very slim.Kaiser and the team in any case encountered some(prenominal) constraints. The team had to decide how to prioritize the clinical trials for Cymbalta within the range of $25 to $50 million and a snip sick of 15 to 18 months to design, enroll patients for trial, and then(prenominal) analyze and document results for the clinical trial. from each one study was a major task for the NAT members and the team had the opportunity to submit altogether one objective to the FDA for marketing compliment.On the another(prenominal) hand, since Cymbalta had been tested with twice free-and-easy social diseases of 20 mg, 30 mg, and 40 mg, NAT members also looked into the option of conducting a new set of clinical trials to establish once-a-day dosage of 60 mg of Cymbalta to treat Major Depressive deflect (MDD). The new option would provide to a greater extent expedient dosing for patients and would also put the product on par with the major competitors. compendium and Evaluation The U. S. pharmaceutical industry is labyrinthian and dynamic.Its an industry that is characterized by hi-tech research and development (R&D) expenditures and extensive ordination of its products, especially in comparison with other manufacturing sectors. The U. S. Food and Drug Administration (FDA) administrate policies that produce faster review and approval times for drugs. The agency carefully evaluates the guard of any new drug and its dexterity. much(prenominal) policies result in extended periods during which companies set up exclusively market their pharmaceutical products. agelong periods of market exclusivity for pharmaceuticals then increase gross gross revenue enhancement revenues, and increased sales revenues in expel lead to greater wampum and potentially more funding for R&D. interposition of depression is one area that the U. S. pharmaceutical industry has heavily indueed in. The total sales of U. S. antidepressants reached close to $9 billion in the year 2000. Companies such as Eli Lilly capitalized on this opportunity and became a leading beat back in the antidepressant market with its Prozac drug. Antidepressant product development companies invest heavily in Research and exploitation (R&D), and patent it.With each successful launch of a product, they enjoy its patent rights for quite a long period of time and enjoy the exclusive rights to produce and trade in that product resulting in enormous profits for the company. Thus, drug companies continuously attempt to label their product from competitors and bundle in such a way that is more spare to segment of the market where they can dupe advanceder profits. SWOT Analysis Strengths emf successor to a highly successful brand Prozac from a well-established company in the pharmaceutical industry. Part of the selective serotonin reuptake inhibitors (SSRI) group of drugs, which is ordinary and had fewer side effects than tricyclic antidepressant drug anti-depressant (TCA) and monoamine oxidase inhibitors (MAOI). Potential to treat both depression and chronic pain, such as cephalalgia and backache caused by depression. Weaknesses Product that is not different from competitors brands. Twice-a-day dosing regimen of 20-40 mg.Threats Serious market aspiration from competitors brands such as Paxils and Zoloft with said(prenominal) efficaciousness. No clear concession amongst physicians as to the nature of link between depression and pain. Attempting to compare Cymbalta to existing SSRI on pain talent fail to once and for all separate from competitors, thus giving concern drugs an implicit endorsement for treating pain. Opportunities Potential development of 60 mg once-a-day dosage with high efficacy. The possibility of engage patients with fibromyalgia (severe muscle pain and chronic fatigue) and Diabetic peripheral neuropathic pain or DPNP (a painful and debilitating complication of diabetes).According to the National Studies of Health, over 40 millio n Americans were unable to find moderation from their pain, including patients with fibromyalgia and DPNP. Pros and Cons of Plausible Alternatives If developed successfully, Cymbalta could be a unique product that has the ability to importantly reduce and improve depression and pain. Patients with fibromyalgia and DPNP could greatly benefit from Cymbalta. The pain relief whitethorn also be great for patients who become from depression and chronic pain like headache and backache.The NATs idea of pursuing the 60 mg daily dosage is also attractive if it delivers the same efficacy of current antidepressant drugs in the market. However, all of this comes with its perils. The company has to evaluate the risks and any potential side effects that the 60 mg per day dosage may stupefy on patients. They also shit to rate the feasibility of conducting a clinical trial with a 15 to 18 months timeframe and a projected cost of $25 to $50 million. Additionally, they would have to convince the FDA that the new product is ready to market.Failure of any of the aforementioned(prenominal) obstacles could result in loss of the antidepressant market to competitors. Recommendations Depression and chronic pain diseases, such as fibromyalgia and DPNP, have a profound effect in society at large. Studies in scientific publications have estimated that depression affects 10% to 25% of the population. The antidepressant market in the U. S. in 2000 come sales of approximately $9 billion. Eli Lilly has positioned itself well in this market segment. The company has enjoyed a market lead with annual sales of over $2 billion with its antidepressant drug, Prozac.Cymbalta needs to focus on maintaining and increase that $2 billion dollar revenue Prozac has achieved over the past years, by building on the successful foundations Prozac has already established. It is important to develop an updated product that will undoubtedly outperform its competitors. Cymbalta might be a successful stand- in because of its good efficacy or efficacy better than existing antidepressants, Cymbalta also has no apparent safety or toxicity issues, and its possibilities of meeting a previously unmet patient needs, exemplifies why Cymbalta has the potential to total higher(prenominal) record sales than even Prozac.