Analysis of the Strengths, Weaknesses and Threats of FedEx - Free Essay Example

Sample details Pages: 16 Words: 4877 Downloads: 4 Date added: 2017/06/26 Category Marketing Essay Type Case study Did you like this example? FedEx Corporation (FedEx) provides a comprehensive suite of services such as transportation, e-commerce and business services. The company offers printing, copying and binding services as well as video-conferencing services. The company has presence in more than 1,950 locations worldwide including Australia, Canada, China, Japan, Korea, Kuwait, Mexico, the Netherlands, the United Arab Emirates, the UK, and the US. Don’t waste time! Our writers will create an original "Analysis of the Strengths, Weaknesses and Threats of FedEx" essay for you Create order These locations include 135 locations in seven foreign countries, as well as 30 commercial production centers. The company classified its operations under four reportable segments, namely, FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. In the FedEx Express segment, the company operates chiefly through Federal Express Corporation, which serves more than 306 countries and territories by delivering packages and freight through a single global network. The segment also includes FedEx Trade Networks, Inc., which provides customs brokerage, international trade services, and global ocean and air cargo distribution. It operates around 49,000 ground transport vehicles, including pickup and delivery vans, larger trucks known as container transport vehicles and over-the-road tractors and trailers. It owns and leases about 700 facilities for city station operations in the US. In addition, 400 city stations are owned or leased throughout FedEx Expresss international network. Further, in May 2010, the segment had around 46,000 Drop Boxes, including 5,000 Drop Boxes outside U.S. Post Offices. As of May 31, 2010, the segment also had around 13,000 FedEx Authorized Ship Centers and other types of staffed drop-off locations, such as FedEx Office centers. Furthermore it had around 4,000 drop-off locations internationally. During 2010, FedEx Express purchased jet fuel from an assortment of suppliers under contracts that differ in length and supply for specific amounts of fuel to be delivered. Under the FedEx Ground segment, the company provides small-package ground delivery services, principally through its FedEx Ground Package System, Inc. It principally serves domestic residences through its FedEx Home Delivery across the US and Canada. This segment also comprises FedEx SmartPost, Inc., which deals with the transportation of less time-sensitive business to consumer packages via the US Postal Service and Canada Post Corporation, and the delivery of high v olumes of low-weight. Its corporate offices and information and data centers are located in the Pittsburgh, Pennsylvania, area in a 500,000 square-foot building. As of May 31, 2010, the segment had about 30,400 company-owned trailers and owned or leased 520 facilities, as well as 32 hubs. The hub facilities average approximately 325,000 square feet and range in size from 54,000 to 715,000 square feet. In addition, around 26,300 owner-operated vehicles support FedEx Grounds business. FedEx Freight Corporation operated around 60,000 vehicles and trailers and 492 service centers. These facilities range in size from 850 to 221,300 square feet of office and dock space. The companys FedEx Services segment is engaged in selling and marketing, besides providing information technology support and customer services support through FedEx Corporate Services, Inc and FedEx Customer Information Services, Inc. In addition, it operates through FedEx Office and Print Services, Inc., which offe rs document solutions and business services. Through its FedEx Global Supply Chain Services, Inc., the company provides a wide range of supply chain solutions. FedEx Office centers are located in strip malls, office buildings or individual structures and average around 4,000 square feet in size. The company also inducted a Boeing 777F freighter in its trans-pacific route, connecting Shanghai with FedExs Super Hub in Memphis, Tennessee. The direct connection will offer customers across Shanghai, Kunshan, and Suzhou a two-hour improvement in cut-off times in select areas. The company will be able to achieve fuel efficiency, besides lesser carbon footprint. Its capital expenditure for 2011 is expected to be approximately USD 3.2 billion. Business environment The airfreight and logistics industry is at ground-zero of globalization. The logistics services that tie this industry together, along with the speed of airfreight, has allowed operations, suppliers, and customer-reach to truly extend globally. Off shoring has created global supply networks with complicated logistics problems, which has prompted the proliferation of third-party logistics providers. Large airfreight carriers, such as FedEx and UPS, have redesigned their business model around such services. Their advanced IT infrastructure provides them with a leading edge over competitors, and they continue to invest heavily in this area. The airfreight slump in 2001 and 2002 caused the large airfreight carriers to seek alternative growth areas, and further encouraged them to drive toward providing turnkey freight transportation services. Industry leaders have spent the past few years forming alliances and acquisitions that reach out to the retail sector. Through these deals, leadi ng airfreight carriers expanded their ground delivery trucking routes, offered more affordable deferred delivery options, worked with the USPS through freight forwarders, and expanded into many more retail outlets. B2C e-commerce is changing delivery dynamics, helping less-than-truckload (LTL) trucking and airfreight carriers, at the expense of full truckload carriers. This trend has caused air cargo and trucking to converge, where each is entering into each others markets. Airfreight carriers are entering into time-definite trucking, and accepting heavier cargo. They market their services not as airfreight, but as time-definite services that use both air and truck. LTL trucking firms are offering more time-definite delivery services, where pricing is based on speed of delivery, as opposed to traditional trucking pricing based on distance and weight. Demands of JIT inventory management and global trade have created a need for faster deliveries over longer distances, which helped develop a steady increase in airfreight usage over other modes of transportation. Airfreight remains small compared to other modes, indicating future growth potential, particularly since the forces of globalization will continue to influence economies. Asia, and particularly China, is a growing region due mostly to increased trade with the region, and Chinas robust manufacturing base Industry overview The AL industry includes not only air carriers, but also transportation intermediaries such as freight forwarders and third-party logistics providers (3PLs). Post offices around the world are direct competitors, and some, such as Deutsche Post (owner of DHL), are partially privatized and publicly traded. Most global post offices now offer overnight and deferred delivery services for letters and small packages, as well as logistics services. Passenger airlines also compete, as they transport freight in the storage areas of their passenger airplanes, and many airlines own additional freight-only fleets. This industry is dominated by a few giants, but remains competitive through a multitude of small- and medium-sized companies. Leadership Peter F Drucker Strategic Leadership Award was presented to Frederick W Smith for the year 1997. He was recognized for innovative and result-oriented leadership. He sees solutions where others see obstacles. FedEx developed rigorous processes under his leadership with extremely low defect rates. FedEx employees were highly motivated and were empowered through information, technology, and training. FedEx was transformed by and information technology innovation. Smith believed that speed, reliability and customer service are three critical success factors. To achieve these goals he invested heavily on IT. It was Smiths strong belief that for an express industry it was absolute necessary to use IT to provide customers with real-time information about their shipments. FedEx under Smith leadership invested heavily in IT and was one of the few businesses in the US which anticipated the application of internet in business operations. Fedex.com was launched in 1994 enabling customer to do business online. The work culture in FedEx was open and informal. The talent of employees was well recognized and rewarded. Smith always received tremendous support and confidence from employees. Smith was a strong advocate of globalization. Smith felt strongly that FedEx should commence international operations and in 1984, FedEx started its operations in Europe and Asia. FedEx acquired several major foreign companies under the leadership of Smith. FedEx acquired Tiger International in 1989 which transformed FedEx into the worlds largest full-service. Competitive position (SWOT) SWOT Analysis Overview FedEx Corporation (FedEx) is a provider of a broad range of transportation, e-commerce and business services to its customers under the FedEx brand. The companys strong market position and diversified business operations are its key strengths, even as its weak operational efficiency and return on equity remain areas of concern. Going forward, global economic conditions and intense competition may impede its growth. However, strategic expansions and positive short-term and long-term outlook for air freight and logistics may offer ample growth opportunities to the company. Strengths Weaknesses Strong Foothold in the Market Overdependence on the US Diversified Business Operations Declining Market Share in Sector Opportunities Threats Strategic Growth Plans Intense Competition Cost-Cutting Initiatives Seasonality of the Business Strengths Strong Foothold in the Market FedExs strong market position offers it an advantage over its competitors. FedEx is the worlds largest express transportation company, offering time-certain delivery within one to three business days and serving markets that encompass over 90% of the worlds gross domestic product. It offers delivery of small packages throughout the US and 220 other countries. FedEx Freight Corporation operates 60,000 vehicles and trailers from a network of 492 service centers. FedEx Ground has more than 31,500 company-owned trailers. In 2010, FedEx ranked 13th in FORTUNE magazines Worlds Most Admired Companies. This is the ninth consecutive year for the company to have been ranked in the top 20 on the list. In 2010, the company was listed among FORTUNEs 100 Best Companies to Work for in America and the company has made it to the list in 12 of the past 13 years. Further it is also ranked among 40 Best Companies for Diversity by Black Enterprise magazine. In addition, FedEx continued to rank highest in customer satisfaction in the University of Michigan Business School National Quality Research Centers American Customer Satisfaction Index in the express delivery category. In 2010, FedEx Express won the Institute of Transport Managements Best Global Cargo Hub award for its Memphis World Hub. The company has an excellent human network, with over 280,000 team members who are confidently focused on safety, the highest ethical and professional standards. This strong foothold in the market and brand equity supports the companys foray into new markets as well as the launch of new services. Diversified Business Operations FedEx has a well-diversified business mix, which provides it a competitive edge over its peers. Under the FedEx brand, it offers a whole range of diversified services through its group companies. . FedEx Services offers end-to-end shipping services to international customers through its FedEx Trade Network. FedEx Express is one of the worlds leading express transportation companies, providing fast and reliable delivery to over 220 countries worldwide including every US address. The companys FedEx Ground provides cost-effective and small package shipping services, and business-to-business delivery services through FedEx SmartPost and FedEx Home Delivery. FedEx Freight provides the fastest, door-to-door same day and next day delivery of valuable items, urgent freight, and hazardous goods through FedEx Custom Critical.FedEx Services offers Internet access, copying and digital printing, document creation, computer rental, professional finishing, direct mail, and signs and graphics. Thi s diversified nature of its business mitigates the risks related with concentration of revenues in a segment. Strong Information Systems Network FedExs information systems help the company efficiently serve its customers and also connect to different FedEx companies as well. The information integration helps the company gain business synergies across its multiple operating units. Its website, fedex.com, offers a single point of contact for all of its customers needs. It provides shipment tracking, invoicing information, customer service as well as other FedEx Office services to its customers. Similarly, customers can make a call to the company and can quickly and easily evaluate the various surface and air freight shipping options offered by FedEx and select the best option that suits their needs. Thus, a strong information system network helps the company offer an efficient freight service to its customers, based on their pickup and delivery requirements, nature of the product being shipped and time sensitivity. Strong Growth FedEx was trading at a price/earnings (P/E) ratio of 22.47 at the end of fiscal year 2010. This was above the SP 500 companies average of 18.19. A higher than SP 500 companies average P/E indicates that the company has high growth prospects, which are reflected in its stocks premium pricing. Investors are likely to expect higher earnings growth in the future compared to other companies in the SP 500 index. The companys return on equity (ROE) was 8.6% for fiscal year 2010. This was above the SP 500 companies average of 4.5%. A higher than SP 500 companies average* ROE indicates that the company is efficiently using the shareholders money and that it is generating higher returns than other companies in the SP 500 index. Weaknesses Overdependence on the US Although the company operates across the world serving over 220 countries, it depends heavily on the US market for its revenues. For fiscal year 2010, the US market accounted for over 71.5% of the total revenue of the company. Overdependence on a particular market puts the company at a risk as any political, economic or climatic change in the region could have an adverse impact on the companys business. It also restricts its market share and growth options. Declining Market Share in Sector FedExs operating margin was 5.75% for fiscal year 2010. This was below the SP 500 companies average of 7.26%. A lower than SP 500 companies average operating margin indicate inefficient cost management or a weak pricing strategy by the company. Due to decline in operating margin, the companys compound annual growth rate decreased. The companys compound annual growth rate (CAGR) for revenue was 1.84% during 2006- 2010. This was below the SP 500 companies average of 12.74%. A lower than SP 500 companies average revenue CAGR may indicate that the company has performed below the SP 500 companies average growth and lost market share over the last four years. The companys underperformance could be attributed to a weak competitive position or inferior products and service offerings or lack of innovative products and services. Opportunities Strategic Growth Plans FedEx is pursuing diverse strategic growth plans that drive its top line performance. FedEx Trade Networks, a subsidiary of the FedEx opened offices in offices in Middle East , Europe and Africa regions. This is the companys latest step in the ongoing global expansion plan including new operations in Warsaw and Gdynia, Poland and Dubai, the United Arab Emirates. The company has opened 20 international freight forwarding locations in the past nine months, bringing the companys total to 22 new international locations since 2008. Further, FedEx Ground is building 214,000 square-foot facility as package sorting and delivery station. It would be the fifth major facility for the company in Chicago. Strategic initiatives such as these form part of the companys plans to strengthen and expand its global footprint. Cost-Cutting Initiatives FedEx has been pursuing diverse initiatives that improve its operational efficiency. The company plans to increase FedEx Express vehicle efficiency by 20% by 2020, and expand on-site renewable energy generation and procurement of renewable energy credits. It has been increasingly inducting hybrid vehicles into its fleet, which minimize cost, besides improving efficiency. The companys hybrid electric delivery fleet is the largest in the industry. Its continuous focus on hybrid and electric vehicles is likely to minimize its fuel costs, besides reducing pollution. To attain its objective of vehicle efficiency at low cost, the company is retiring and replacing older Boeing 727s with more fuel-efficient and quieter Boeing 757s. Strategic Alliances Strategic alliances could provide the company an immense opportunity to expand its service portfolio and cater to a wider customer base and improve its profit margins. FedEx has a multi-year agreement with OfficeMax to offer domestic FedEx Express and FedEx Ground shipping in over 900 US OfficeMax retail locations. FedEx SmartPost expanded its services in Canada for US shippers by collaborating with Canada Post Corporation. These alliances and mergers help the company generate cost efficiencies by maximizing the use of the combined assets. The company could further expand its service offerings and geographical presence by partnering or acquiring such potential companies and garner higher market share. Growth of Air Freight and Logistics Market Due to rapid growth of air freight and logistics market worldwide it offers a strong growth potential for the company. Air freight and logistics market is expected to reach a total value of USD164.8 billion by 2012. Due to the strong performance of the Asia-Pacific economies, this sector recorded strong growth particularly in China and India. As China India are hubs for low cost manufacturing, finished goods in these markets drive the demand for air freight and other means of transportation in the region. The demand for the companys services could increase because of the strong growth of global air freight and logistics market. Forrester Research conducted a study of the global online shopping. It is forecast that the revenue of the global online shopping will reach USD334 billion by 2012 as compared to USD267 billion in 2009. Main drivers of online retail shopping are apparel, accessories ,and footwear, computer hardware, software, peripherals, autos , and auto parts, consumer el ectronics and home furnishings. FedEx will benefit largely form the strong growth in online retail sales. Threats Intense Competition The express package and freight market is highly competitive, which could affect the growth of the company. The companies in the industry compete on factors such as price, geographical coverage, reliability, frequency and capacity of scheduled service, ability to track packages and innovative service offerings. Key competitors of the company include United Parcel Service, Inc, US Postal Service, DHL International Limited, Con-Way Inc., Geodis SA, and TNT NV, amongst others. Some of these competitors have greater resources, lower costs and more favorable operating conditions. If the company fails to launch innovative services or efficiently serve its customers, growing competition could lure away its customers. Competition could also compel the company to compete in product pricing as well, resulting in lower profitability. Seasonality of the Business FedExs business could also be affected by the seasonality of the industry. Historically, the US express package business has experienced an increase in volume during the November and December. The international business, especially the Asia to US market, witnesses a surge during October and November while other periods generally witness relatively lower volumes. The FedEx Freight LTL Group handles lower volumes during late December, January and February while FedEx Ground witnesses its slowest periods during late December, June and July. Thus, any decline in volumes during the peak season cannot be made up during the lean period, affecting the earnings the company. National Labor Relations Act FedExs air cargo business may be affected by the National Labor Relations Act. FedEx Express employees are covered under the Railway Labor Act, which was extended to airlines in 1936, which restricts a labor dispute in one part of a broader transportation system from bringing that system to a halt. However, the US senate is debating the issue, as it is part of the FAA authorization bill. FedEx has announced its intentions to stop investing in its Express air unit, if the Congress shifts its employee status to the National Labor Relations Act. The company expects that the FAA authorization bill, if it becomes law, may enable employees to organize into local bargaining units, as they can unionize locally. Strategies future recommendation FedExs strategy for success in the market place relies on a combination of customer understanding, operational excellence and product leadership customer value proposition. FedEx relies on its excellent operations system to deliver products or services quicker, more conveniently and at lower prices than its competitors. FedEx focuses on its sales and advertising, as well as the information systems that support the extensive automation of their package delivery system. Pursue growth through acquisitions As trucking and airfreight continue to converge, with airfreight accepting larger freight loads and trucking offering more time-definite delivery, AL industry companies can look for acquisition opportunities in this area. Many independent freight forwarders, customs brokerage firms, and 3PLs have established themselves as leaders in their niches over the past decade, which are also prime acquisition targets. No firm dominates logistics services, not even the AL industry leaders, indicating much room for consolidation in this area. Pursue growth through partnerships and alliances Partnerships and alliances with complementary services providers, such as freight forwarders, can help airfreight carriers achieve many of the same goals as acquisitions. For example, FedEx has successfully tapped into the retail reach of the USPS with unique partnerships, while avoiding the high cost of the last leg that the USPS serves on a large scale. Airfreight carriers, freight forwarders, and 3PLs all can gain from partnering with airlines for belly space at times. Specialized companies should seek such alliances with companies that help to leverage their niche service with other services. Grow revenue thru new markets with existing products Most companies have suppliers and customers around the world, and most consumers order products globally through the Internet. Furthermore, developing markets with rising disposable incomes offer growth opportunities, especially Asia, which is the fastest growing trading region with the U.S. Commercial manufacturing clients in China are a substantial source of growth. The Six Force Industry analysis We will analyze the Porters five forces and the McAfees sixth force to look the industry overview and analyze FedEx position in the market. Rivalry Main competition in this industry is in between FedEx, UPS, U.S. Postal Service (USPS), airfreight forwarders and passenger airlines that carry packages. Traditionally the company that responses first to the changing trends; tends to win in the long run. FedExs key international competitors are UPS, DHL, TNT and government backed postal entities. Many of these competitors are government-owned, which may have greater means, lower costs, less profit indifference and more favorable operating conditions than FedEx. In addition, intense rivalry is also due to the presence of high exit barriers due to high fixed costs which comes with maintaining huge infrastructure for express delivery. Threat of Entry A global freight and packaging business is an economy of scale. Existing companies can take the cost advantage of their large scale operations and large volume to achieve economies of scale. To achieve economies of scales, the firm should have global network of distribution centers, efficient supply chain management system and access to large fleet of airplanes, ships, trucks and trains. FedEx dominates the air freight and overnight delivery market, whereas UPS controls the major market share in ground transportation. A new entrant would have to invest large amounts of capital and will probably start of as a local regional player or specialize in a sub-market, will not be in a competitive position. Threat of substitute There are not many options or substitute to may pose a potential threat to the freight industry. These days most big players offer one-stop shop solution to its customers, they offer air, ground and ocean freight transportation. Individual and businesses will always need to ship packages from one point to another whether as personal material, raw product or finished product, thus will require the services of this industry. However, the use of emails has created a big hole in the usage of overnight deliveries of documents segment in the industry and organization and individuals are welcoming than ever to accept these online electronic deliveries of documents. Supplier Bargaining Power One of the main expenses in this industry is high and often fluctuating prices of fuel, this directly affects the bottom line of companies. The price of fuel is determined by the health of global economy and political issues which puts the oil suppliers in strong bargaining position. Suppliers of packaging material do not have high bargaining power as most companies buy in large quantities and can easily switch to other supplier at low costs. Suppliers of airplanes and trucks also do not have high bargaining powers due to the high rivalry environment their respective industries. However, the companies that offer services such as airplane and truck maintenance and airport services tend to have high bargaining power due the existing contracts and high switching costs. Buyer Bargaining Power Due to fierce competition to become the main supplier of freight services to corporations, the buyers enjoy high bargaining powers. Corporations have low costs in switching from one service provider to another. These days with the boom in e-commerce industry, many companies will contract with one service provider to deliver all their packages as these companies usually do not give an option to their customers to choose a service provider. Individuals usually opt for the lowest prices, however they be affected by advertising and brand of certain firm when choosing a service provider. Complements The Sixth Force Internet has played a big role as a complement in this industry, now the customers can also track the shipments online. For customers such as online retailers can ship their products and give the option to its customers to track the shipments. Since the acquisition of Kinkos by FedEx and of Mailboxes by UPS, both the companies are able to offer a whole new variety of services to its customers. Customers can do all their office and document related work at one shop and will tend to use the services of the freight service provider at that shop. Other complements such as mail insurance also tend to add value to the companies and provide extra services to the customers. Appendix FedEx Corporation, Key Competitors Name Headquarters Revenue (US$ m) Con-Way Inc. United States 4,265 Deutsche Post AG Germany 84,132 Geodis SA France Panalpina World Transport (Holding) Ltd. Switzerland 5,466 Royal Mail Group plc United Kingdom 15,534 United Parcel Service, Inc. United States 45,297 United States Postal Service United States 68,090 TNT N.V. Netherlands 14,447 DHL International GmbH Germany Key Executives History Name Title Biography Frederick W. Smith Chairman, Chief Executive Officer, President Mr. Smith has been the Chairman, the Chief Executive Officer and the President of FedEx Corporation since 1998. Prior to this, he served as the Chairman of FedEx Express since 1975 and Chairman, President and Chief Executive Officer of FedEx Express from 1983 to January 1998. He served as the Chief Executive Officer of FedEx Express from 1977 to January 1998 and as the President of FedEx Express from 1971 to 1975. Robert B. Carter Chief Information Officer, Executive Vice President Mr. Carter has been the Executive Vice President, FedEx Information Services and the Chief Information Officer of FedEx Corporation since 2007. Prior to this, he served as an Executive Vice President and the Chief Information Officer of FedEx from June 2000 to January 2007. He served as the Corporate Vice President and Chief Technology Officer of FedEx from February 1998 to June 2000. In the past, he held several senior positions such as the Vice President Corporate Systems Development of FedEx Express from September 1993 to February 1998 and Managing Director Systems Development of FedEx Express from April 1993 to September 1993. Alan B. Graf, Jr. Chief Financial Officer, Executive Vice President Mr. Graf has been an Executive Vice President and the Chief Financial Officer of FedEx Corporation since 1998. Prior to this, he served as an Executive Vice President and the Chief Financial Officer of FedEx Express from February 1996 to January 1998. He was the Senior Vice President and Chief Financial Officer of FedEx Express from December 1991 to February 1996 and the Vice President and Treasurer of FedEx Express from August 1987 to December 1991. FedEx History 2009 Acquisitions/Mergers/Takeovers Caribbean Transportation Services, Inc. (CTS), a provider of airfreight forwarding services principally between the US and Puerto Rico, the Dominican Republic, Costa Rica and the Caribbean Islands, was merged with FedEx Express. 2009 Contracts/Agreements FedEx Express entered into an operational agreement with MNG Kargo, a leading domestic express company in Turkey. 2009 Corporate Changes/Expansions FedEx Ground opened a new distribution facility in Medley, Florida. 2009 Corporate Changes/Expansions The companys subsidiary, FedEx Trade Networks expanded its global presence with seven freight forwarding offices in Asia and Latin America. 2009 Contracts/Agreements The companys FedEx Express, a subsidiary of FedEx Corp. entered into an agreement with CryoPort Systems, Inc. to provide an innovative and break through frozen shipment solution for the life science industry. 2009 Corporate Changes/Expansions FedEx SmartPost expanded its service into Canada for the US shippers by collaborating with Canada Post Corporation. 2009 Contracts/Agreements FedEx signed a multi-year agreement with OfficeMax to offer domestic FedEx Express and FedEx Ground shipping to over 900 US OfficeMax retail locations from fall 2009. 2008 Corporate Changes/Expansions FedEx Express, a subsidiary of FedEx Corp. started FedEx Express National, a domestic overnight service in Mexico. 2008 Contracts/Agreements Canada Post Corporation and FedEx Express Canada entered into an agreement to provide a new international express service. 2007 Contracts/Agreements FedEx Express entered into an agreement to acquire Hungarian global service participant. 2007 New Products/Services FedEx started its new long-haul less-than-truckload (LTL) service. 2007 Acquisitions/Mergers/Takeovers FedEx Express acquired Prakash Air Freight. 2006 Acquisitions/Mergers/Takeovers FedEx acquired ANC Holdings. 2006 Acquisitions/Mergers/Takeovers FedEx acquired the Watkins Motor Lines. 2006 New Products/Services FedEx started FedEx(R) Critical Inventory Logistics. 2005 New Products/Services FedEx Ground started a new automated distribution center in McCook. 2004 Acquisitions/Mergers/Takeovers The company acquired Kinkos. 2001 Acquisitions/Mergers/Takeovers FedEx acquired American Freightways. 2000 Acquisitions/Mergers/Takeovers FedEx acquired Tower Group International. 2000 Corporate Changes/Expansions The company was renamed as FedEx Corporation. 1998 Acquisitions/Mergers/Takeovers The company acquired Caliber System. 1997 Incorporation/Establishment FedEx was incorporated in Delaware as the parent holding company of its operating companies. 1984 Acquisitions/Mergers/Takeovers FDX acquired Gelco Express International. 1981 New Products/Services FDX started its first international service in Canada. 1979 New Products/Services The company installed a centralized computer system named Cosmos. 1978 Stock Listings/IPO FDX was listed on the New York Stock Exchange. 1971 Incorporation/Establishment FedEx was established as FDX in Arkansas. FedEx Corporation, History FedEx Performance Chart (2006 2010)

Traditions Of A Jewish Commentary - 807 Words

Traditions such as homemade decorations, Grandma’s banana pudding, and ugly sweaters often remain close to family’s hearts. Candles, decorations, food, and outfits, the list of customs never terminates! Two families, who practice traditions in the book, The Chosen by Chaim Potok, include the Malter’s and the Saunders’. David and Reuven Malter enjoy weekly services, prayer, and special articles of clothing in their lives as orthodox Jews*check for accuracy. Also, in the Saunders’ family, the boys wear intricate outfits and the father bestows the role of tzaddick to one of the male children because they practice the Jewish sect of Hadism. Although these two families’ rituals differ, they both participate in the studying of the holy scriptures, a Jewish commentary, each Shabbat, or Sabbath day. OPENER!!!The Malter’s practice their unique traditions, the Saunders’ continue their customs, and the families share the tradition of studying the holy Jewish books. 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Genetics Essay Research Paper Genetic engineering altering free essay sample

Geneticss Essay, Research Paper Familial technology, changing the familial features of an being in a predeterminedway, by presenting into it a piece of the familial stuff of another being. Geneticengineering offers the hope of remedies for many familial diseases, one time the job of lowefficiencies of effectual transportation of familial stuff is overcome. Another development hasbeen the polish of the technique called cloning, which produces big Numberss ofgenetically indistinguishable persons by transfering whole cell nuclei. With other techniquesscientists can insulate subdivisions of DNA stand foring individual cistrons, determine their nucleotidesequences, and reproduce them in the research lab. This offers the possibility of creatingentirely new cistrons with commercially or medically desirable belongingss. While the potentialbenefits of familial technology are considerable, so may be the possible dangers. For illustration, the debut of cancer-causing cistrons into a common infective being, such as theinfluenz a virus, could be risky. We have come to believe that all human existences are equal ; but even more steadfastly, we are taught to believe each one of us is alone. We will write a custom essay sample on Genetics Essay Research Paper Genetic engineering altering or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Is that thought undercutby cloning? That is, if you can intentionally do any figure of transcripts of an person, is eachone particular? How particular can clones experience, cognizing they were replicated like smile buttons. # 8220 ; Wearen # 8217 ; T merely our cistrons, we # 8217 ; re a whole aggregation of our experiences, # 8221 ; says Albert Jonsen. But theidea, he adds, raises a host of issues, # 8220 ; from the antic to the profound. # 8221 ; When anaesthesia wasdiscovered in the nineteenth century, there was a guess that it would rob worlds of thetransforming experience of agony. When three decennaries ago, James Watson and FrancisCrick unraveled the familial codification, popular treatment turned non to the new hope forvanquishing disease but to the ghost of genetically engineer ed races of demigods and worker drones. Subsequently, the reaching of organ grafts set people dwelling about a universe of clankingFrankensteins, welded together made from used parts. Already there are 1000s of frozenembryos sitting in liquid N storage around the state. # 8220 ; Suppose person wanted toadvertise cloned embryos by demoing images of already born kids like a merchandise, # 8221 ; saysProf. Ruth Macklin, of New York # 8217 ; s Albert Einstein College of medical specialty, who specializes cold reproduction. Dividing an embryo mat seem a great technological spring, but in a worldwhere embryos are already created in trial tubings, it # 8217 ; s a baby measure. The current challenge inreproductive medical specialty is non to bring forth more embryos but to place healthy 1s and getthem to turn in the uterus. Using familial trials, physicians can now test embryologic cells forhereditary diseases. In the non to distant hereafter, antenatal trials may besides assist predict suchcommon jobs as fleshiness, d epression and bosom disease. But don # 8217 ; t expect scientists to startbuilding new traits into babes anytime shortly. The technological obstructions are formidable, andso are the cultural 1s. Transcripts of worlds are indistinguishable, but are the people the same? Probablynot. For a century scientists have been seeking to calculate out which factors play the mostimportant function in the development of a human personality. Is it nature or raising, heredity orenvironment? The best information so far has come from the survey of indistinguishable twins rearedapart. Twins Jim Springer and Jim Lewis, separated at birth in 1939, were reunited 39 yearslater in a survey of twins at the University of Minnesota. Both had married and divorced womennamed Linda, married 2nd married womans named Betty and named their oldest boies James Allan andJames Alan. Both drove the same theoretical account of bluish Chevrolet, enjoyed carpentry, vacationedon the same Florida beach, and both had Canis familiariss named Toy.

Understanding Languages and Literacy

Question: Write an essay about the 'Understanding Language and Literacy'. Answer: Brief Description of the book Tanias Diwali Celebration The book primarily focuses on an Indian festival known as Diwali. Tania, the main character in the book, takes part in various rituals including making sweets, decorating their house, and lighting crackers. Her parents expose her to these activities so that she can understand her culture well and what needs to be done on various occasions. The Aim that I need to Achieve by Using the Book The aim that I need to achieve from the book is to show students that people are brought up differently based on their cultures. For instance, there are families that require children to understand their culture, customs and religion in-depth as in the case of Tania. Additionally, some cultures forbid children dressing in a certain way and to always respect their elders. Therefore, through this book, children will be able to identify distinct attributes of their cultures. Explaining How the Book Acknowledges the Importance of Cultural and Home Language for Childrens Literacy Learning and Teaching The book acknowledges the significance of home language and culture for children based on Tanias activities during the festivals. Being an Indian, Tania is introduced to what she needs to do during Diwali festivals. She is taught how to prepare sweets and decorate the house to meet Diwalis expectations. For bilingual children, the text causes them to comprehend the significance of understanding different languages and their culture as well. Analysis of the Book and How it Would beUsed to Support Literacy Teaching and Learning for Children from Diverse Cultural Backgrounds and Home Languages Despite the fact that Australia is a culturally and linguistically diverse country, the population is expected to be conversant with the Standard Australian English, which is the official language (Fellowes Oakley, 2014). Learning and achievement in Australian schools are demonstrated and accessed via the English language. However, more support is required for students whose English is an additional dialect or language (EAL/D). The primary objective of offering support to these students is to develop their English skills so that they can effectively communicate and fit in the Australian curriculum. Therefore, teachers are expected to utilize the Australian Curriculum design to satisfy the learning needs of individuals whose English is an additional dialect or language (Australian Curriculum, n.d). Examples of learning experiences that could use the book within the educational setting are as detailed below: Learning Experiences Given the fact that Australia is a country of diverse cultures, early childhood educators often receive students from distinct cultural backgrounds. For this reason, they are expected to know these children families cultural backgrounds, community values and communication practices (Fellowes Oakley, 2014). Children social practices, values, and language are shaped by their family and community experience as evident in the book as Tania is exposed to the cultures of her community. Therefore, the book provides a good platform to understand students cultures and values. For instance, the teacher can read the book to the class after which they should be asked to identify distinct attributes of their culture. Children can be asked to highlight how boys and girls in their culture are expected to dress, treat their elders, and their roles in the family. For those who do not know details about their culture, the teacher should give them some time so that they can go and ask the older member s in their families. Accordingly, the teacher can ask students to state unique celebrations that their cultures values and even come with photos of their families when attending those celebrations. Through these activities, students will have an opportunity to embrace individuals from distinct cultural backgrounds. Describing Different Ways to Adapt and Extend the Strategies to Include the Diverse Interests and Needs of Children and Cater for Different Age Groups Informed and systematic teaching is paramount for EAL/D students, especially those who want to enhance their English proficiency (Australian Curriculum, n.d). Some of the strategies that teachers can utilize to include the diverse interest and needs of children and cater for distinct age groups include: Utilizing the EAL/D learning progression to identify the degree of language proficiency of each student. Utilizing the cultural understandings of each student. Teaching explicitly. Enhancing shared knowledge. Utilizing cross-curriculum priorities. Showing value for individuals native language and acknowledging that its use influences confidence as well as second language learning and cognitive development. Making sure that the designed learning program is inclusive and equitable irrespective of the children language or cultural background, age or English proficiency. While using the above strategies, it is important that teachers comprehend that students from diverse cultural backgrounds might be struggling with English language or are already accustomed to various languages but not English. Additionally, they might be having limited education and their literacy in first language literacy skills is excellent. As such, their life experience and cognitive development might not relate with their proficiency in the English language (Australian Curriculum, n.d). Therefore, the parent and student must be consulted to ensure that the needs of the student are met. Justifying the Learning Experiences Identified by Referring to the Australian Curriculum and Relevant Research Literature Understanding children from distinct linguistic and cultural backgrounds is important in meeting their individual needs in the classroom. Approximately 200 languages are utilized in Australia, and 50 of these languages are categorized as Aboriginal languages (Fellowes Oakley, 2014). For this reason, children in Australia commence learning English as their second language after enrolling in a school or child care program. Besides, children are often exposed to multiple languages while at home, the reason the Australian Curriculum puts emphasis on the importance of children learning about differences in the utilization of English in Australia. For instance, children at the Foundation Level are expected to comprehend that English is utilized for communication purposes in addition to other distinct languages utilized by the community, classmates and family. References Tillmann, A. (2012). What We See and Why it Matters: How Competency in Visual Literacy can Embrace Student Learning. Topiel, E. (2015). The Need for Visual Literacy Instruction in K-12education. Retrieved from, Zane Education. (2015). What is Visual Learning?: Discover the Educational Benefits of Visual Learning and its Value to Students in Education.

THE SCAFFOLDING OF SIN Essays - English-language Films,

THE SCAFFOLDING OF SIN For thousands of years, humans have confronted their sinfulness. Some trust in their religious faith to help with their struggles, some sin more to hide the truth. But in the end, man must stand alone ? as a sinful creature before God. In Nathaniel Hawthorne's The Scarlet Letter, Dimmesdale has a difficult time finding a place to relieve his sin. The Scarlet Letter's scaffold is a place for the protagonist to find peace with himself. That scaffold holds more importance than just somewhere to condemn prisoners. It is the one place where Dimmesdale felt liberated to say anything he wishes. In Puritan culture, the scaffold is used to humiliate and chastise prisoners, be it witches at the stake, thieves in the stocks, or a murderer hanging from the gallows. In The Scarlet Letter, the scaffold was viewed more as a place of judgement. ?Meagre ... was the sympathy that a transgressor might look for, from such bystanders, at the scaffold.? (p. 63) Indeed, it was used for castigation, but it was also a place of trial: Hester's trial was held at the scaffold. Standing upon the platform opens oneself to God and to the world. ?They stood in the noon of that strange and solemn splendor, as if it were the light that is to reveal all secrets, and the daybreak that shall unite all who belong to one another.? (p. 186) Being on the scaffold puts oneself in a feeling of spiritual nakedness- where you feel exposed to God, but cleans ed. It was the one place where Dimmesdale could find complete reconciliation. Witnessing such an event as reconciliation is quite a fascinating experience. But without knowing what is going on, it can also be quite horrifying. ?Without any effort of his will, or power to restrain himself, he [Dimmesdale] shrieked aloud: an outcry that went pealing through the night, and was beaten back from one house to another, and reverberated from the hills in the background; as if a company of devils, detecting so much misery and terror in it, had made a plaything of the sound, and were bandying it to and fro.? (pp. 178-9) Indeed, the townsfolk felt the latter. ?Drowsy slumberers mistook the cry either for something frightful in a dream, or for the noise of witches.?(p. 179) They did not understand that this was his reconciliation. Both Governor Bellingham and Mistress Hibbens had awoken to the frightful sound and looked from their house in investigation. When they perceived it was the Reverend in another of his midnight vigils rather than a cry for help, they stumbled rig ht back to their sleeping chambers. Along with this inquisitive attention from onlookers, came the looks of disdain, from Chillingworth and others. ?Smiling on her [Hester]; a smile which -- across the wide and bustling square, and through all the talk and laughter, and various thoughts, moods, and interests of the crowd -- conveyed secret and fearful meaning.? (p. 284) Chillingworth might of had other plans, but after hearing what Dimmesdale had to say, Chillingworth thrust himself to his knees and admit defeat. Although he was a sick man, Dimmesdale's struggle was not for life, but for repentance. In fact, his mental anguish of sin is what had caused his illness. Dimmesdale would spend some nights scourging himself, just himself and a whip-like punishment device. He felt it critical to admit his sin to himself and to his community and brethren ?... The Reverend Mr. Dimmesdale turned to the dignified and venerable rulers; to the holy ministers, ... as knowing that some deep life-matter -- which, if full of sin, ... was now to be laid open to them.? (pp. 306) This act of declaring his sin is one step closer to salvation. The scaffold provides a perfect venue to stand before God with everything before oneself. Dimmesdale stood before God and his community and chose to ?sink upon the scaffold. Hester partly raised him, and supported his head against her bosom. Old Roger Chillingworth knelt down beside him, with a blank, dull countenance, out of which the life seemed to have departed." (p. 308) On the scaffold, Dimmesdale openly brought his sin to light and felt restored.

The Blackstone Commentaries and Womens Right

The Blackstone Commentaries and Women's Right In the 19th century, American and British womens rights- or lack of them- depended heavily on the commentaries of William Blackstone which defined a married woman and man as one person under the law. Heres what William Blackstone wrote in 1765: By marriage, the husband and wife are one person in law: that is, the very being or legal existence of the woman is suspended during the marriage, or at least is incorporated and consolidated into that of the husband; under whose wing, protection, and cover, she performs every thing; and is therefore called in our law-French a feme-covert, foemina viro co-operta; is said to be covert-baron, or under the protection and influence of her husband, her baron, or lord; and her condition during her marriage is called her coverture. Upon this principle, of a union of person in husband and wife, depend almost all the legal rights, duties, and disabilities, that either of them acquire by the marriage. I speak not at present of the rights of property, but of such as are merely personal. For this reason, a man cannot grant anything to his wife, or enter into covenant with her: for the grant would be to suppose her separate existence; and to covenant with her, would be only to covenant with hims elf: and therefore it is also generally true, that all compacts made between husband and wife, when single, are voided by the intermarriage. A woman indeed may be attorney for her husband; for that implies no separation from, but is rather a representation of, her lord. And a husband may also bequeath any thing to his wife by will; for that cannot take effect till the coverture is determined by his death. The husband is bound to provide his wife with necessaries by law, as much as himself; and, if she contracts debts for them, he is obliged to pay them; but for anything besides necessaries he is not chargeable. Also if a wife elopes, and lives with another man, the husband is not chargeable even for necessaries; at least if the person who furnishes them is sufficiently apprized of her elopement. If the wife be indebted before marriage, the husband is bound afterwards to pay the debt; for he has adopted her and her circumstances together. If the wife be injured in her person or her p roperty, she can bring no action for redress without her husbands concurrence, and in his name, as well as her own: neither can she be sued without making the husband a defendant. There is indeed one case where the wife shall sue and be sued as a feme sole, viz. where the husband has abjured the realm, or is banished, for then he is dead in law; and the husband being thus disabled to sue for or defend the wife, it would be most unreasonable if she had no remedy, or could make no defence at all. In criminal prosecutions, it is true, the wife may be indicted and punished separately; for the union is only a civil union. But in trials of any sort they are not allowed to be evidence for, or against, each other: partly because it is impossible their testimony should be indifferent, but principally because of the union of person; and therefore, if they were admitted to be witness for each other, they would contradict one maxim of law, nemo in propria causa testis esse debet; and if against each other, they would contradict another maxim, nemo tenetur seipsum accusare. But, where the offence is directly against the person of the wife, this rule has been usually dispensed with; and therefore, by statute 3 Hen. VII, c. 2, in case a woman be forcibly taken away, and married, she may be a witness against such her husband, in order to convict him of felony. For in this case she can with no propriety be reckoned his wife; because a main ingredient, her consent, was wanting to the contract: and also there is another maxim of law, that no man shall take advantage of his own wrong; which the ravisher here would do, if, by forcibly marrying a woman, he could prevent her from being a witness, who is perhaps the only witness to that very fact. In the civil law the husband and the wife are considered as two distinct persons, and may have separate estates, contracts, debts, and injuries; and therefore in our ecclesiastical courts, a woman may sue and be sued without her husband. But though our law in general considers man and wife as one person, yet there are some instances in which she is separately considered; as inferior to him, and acting by his compulsion. And therefore any deeds executed, and acts done, by her, during her coverture, are void; except it be a fine, or the like manner of record, in which case she must be solely and secretly examined, to learn if her act be voluntary. She cannot by will devise lands to her husband, unless under special circumstances; for at the time of making it she is supposed to be under his coercion. And in some felonies, and other inferior crimes, committed by her through constraint of her husband, the law excuses her: but this extends not to treason or murder. The husband also, by the old law, might give his wife moderate correction. For, as he is to answer for her misbehaviour, the law thought it reasonable to intrust him with this power of restraining her, by domestic chastisement, in the same moderation that a man is allowed to correct his apprentices or children; for whom the master or parent is also liable in some cases to answer. But this power of correction was confined within reasonable bounds, and the husband was prohibited from using any violence to his wife, aliter quam ad virum, ex causa regiminis et castigationis uxoris suae, licite et rationabiliter pertinet. The civil law gave the husband the same, or a larger, authority over his wife: allowing him, for some misdemeanors, flagellis et fustibus acriter verberare uxorem; for others, only modicam castigationem adhibere. But with us, in the politer reign of Charles the second, this power of correction began to be doubted; and a wife may now have security of the peace against he r husband; or, in return, a husband against his wife. Yet the lower rank of people, who were always fond of the old common law, still claim and exert their ancient privilege: and the courts of law will still permit a husband to restrain a wife of her liberty, in the case of any gross misbehaviour. These are the chief legal effects of marriage during the coverture; upon which we may observe, that even the disabilities which the wife lies under are for the most part intended for her protection and benefit: so great a favourite is the female sex of the laws of England. Source ï » ¿William Blackstone. Commentaries on the Laws of England. Vol, 1 (1765), pages 442-445.

Organized Crime Essay Example | Topics and Well Written Essays - 1250 words - 1

Organized Crime - Essay Example This paper will discuss various aspects of organized crime by focusing on the fundamentals of criminal law. Simply, the organized crime could be called as the illegal activities performed under an organized set up intended to make profit. It has been considered as a multi-faceted phenomenon which is evidently associated with different activities like drug transport, illegally transporting human beings, illegal trafficking of firearms, smuggling, money laundering, and many more. Organized crime groups have developed their own highly equipped teams with modern weapons and operating systems. The criminals have also created national and international tie up with terrorist organizations and other rebellious groups. Organized crime can be in many forms. It ranges from the smallest crime where just two persons have agreed to contribute together, to the crime that may progressively lead to highest levels of Mafias among the gangs of immigrants. As Levitt and Dubner (2005) point out, the historical figures show that there were more than 1,300 street gangs, catering to every ethnic, political, and criminal issues in Chicago alone. Mafia activities are sometimes interchangeably used to represent highly organized crime. Criminal law constitutes a very small part of the entire field of law and it is considered to be one of the most incoherent and underdeveloped areas of law. In olden days, tribal groups practiced their own private laws regarding the system of criminal justice. Some modern societies still maintain their own differences in criminal laws like civil law systems of France and Germany. In contrast, criminal laws in the United States are well structured and preserved by legislature for each jurisdiction. â€Å"Crimes are ‘owned’ by the state, prosecuted by the state, and the only thing separating a civil wrong from a criminal wrong is that fine line

Mass Culture Essay Example | Topics and Well Written Essays - 1000 words

Mass Culture - Essay Example The distinction between 'serious' and 'popular' music was tackled by Adorno. Serious music is perceived as refined music compared to popular music. Serious music is regarded as highbrow as distinct from popular music which is considered lowbrow. (Witney, 2002). However, Adorno rejects these categories as a basis for making a distinction between serious and popular music. Adorno stressed that the works of early Viennese classicism were rhythmically simpler than the common arrangements of jazz. He further pointed out that based on melody, the wide intervals of â€Å"Deep Purple' and 'Sunrise Serenade' makes these much more difficult to emulate compared to Haydn. In particular, he explained that the supply of chords of the classics is limited compared to a modern composer who culls from Debussy, Ravel and later sources' (Adorno 1990:305). The rallying point of Adorno was the question of whether culture validated the experience of the individual or whether culture had eclipsed it. (Ridlesss, 1984). According to Adorno and Horkheimer, under monopoly, all mass culture is identical. Movies and radio are not art but businesses made into an ideology to reinforce the rubbish they produce. These businesses refer to themselves as industries. Some persons explain the culture industry in technological terms. They state that reproduction processes are necessary that would require similar needs in many places to be satisfied with identical goods. Adorno and Horkheimer stipulate that the standards were based on consumers’ needs. ' needs. The basis on which technology acquires power over society is the power of those whose economic hold over society is at its greatest. A technological rationale is the aim of domination itself. It is the coercive nature of society alienated from itself. The outcome is that the technology of the culture industry resulted in standardization and mass production. (Adorno and Horkheimer, 1993). Moreover, Adorno and Horkheimer states that the man with leisure has to accept everything that the culture manufacturers offer him. The industry robs the individual of his function since the industry does the schematizing and classification for him. (Adorno and Horkheimer, 1993). Adorno and Horkheimer stated that style is significant in every work of art. The artistic expression is imbedded in the style or into the language of music, painting and words. The promise a work of art holds depends on how it will create truth by lending new shape to the conventional social forms. The fulfillment of art lies in their aesthetic derivatives. (Adorno and Horkheimer, 1993). The culture industry is basically a spectacle which is illusory. In the face of the person who isstimulated by all those brilliant names and images there is an ode to the depressing everyday world it sought to escape. The culture industry is essentially pornographic and prudish. Love is further downgraded to romance. After the descent, license becomes a specialty, it is knows as "daring. The stronger the positions of the culture industry become, the more it can handle consumers' needs by manufacturing them, manipulating them, disciplining them, and even by withdrawing amusement from them. (Adorno and Horkheimer, 1993). In the culture industry, the individual is an illusion due to the standardization of the means of production. The reactions of human beings have been reified that the idea of anything specific to themselves shows as an abstract notion. The emphasis is on bodily perfections devoid of distinction. The triumph of advertising in the culture industry is that consumers feel compelled to buy and use its products even though they see through them. (Adorno and Horkheimer, 1993). Stuart Hall's encoding and decoding diagram is closely related to the works of Eco, Adorno and Horkheimer. Hall showed that production practices in television translate into a message, a sign-vehicle which is organized by means of a set of codes

Material science Research Paper Example | Topics and Well Written Essays - 500 words

Material science - Research Paper Example GBS has also been found to be a major means of deformation for polycrystalline materials leading to the belief that GBS controls superplasticity properties. GBS refers to the displacement occurring when two grains subjected to external stress slide over one another in which the movement occurs at or in closer proximity to the common interface between the grains (Langdon 598). The occurrence of grain boundary sliding has been demonstrated by several scholars over the years. Grain boundary sliding has increasingly become an area of interest among material scientists. Two different forms of GBS have been suggested. The first form of GBS suggested by Rachinger in 1952 involves the displacement of nearby grains in which the grain’s original shape and size is retained despite being evidently displaced over each other (Mayo and Nix 2). This phenomenon has been demonstrated as a form of deformation in polycrystalline materials under creep situations where the number of grains within the measured length increases in the same direction as the external tensile stress (Rachinger 81). Rachinger GBS exists under two different situations namely; conventional creep where the size of the grain d exceeds that of the equilibrium sub-grain as well as in superplasticity where the grain size is smaller than the equilibrium size of the sub-grain (Langdon 598). Both GBS GBS also exists in form of Lifschitz sliding which represents the offsets in the boundaries that occur due to stress and does not increase the number of measured grains (Langdon 598). The main difference between the two GBS forms is that while Lifschitz is an accommodation process by itself, Rachinger sliding entails accommodation through intragranular grip (Nieh, Sherby and Wadsworth 40). The two GBS types have been unified through rate equations which are consistent with empirical observations (Vastava and Langdon 2339). Grain boundary sliding also plays a significant role in superplasticity.

Healthy Rise In GSK Profits Commerce Essay

Healthy Rise In GSK Profits Commerce Essay This report outlines the analysis made at micro and macro level on UK based pharmaceutical company, Glaxo SmithKline Plc. In this context the scope of the industry is analyzed and based on the threats that the industry can face a critical study is carried out to predict the future market position of GSK among its competitors. This analysis made is based on various models and frameworks like Porters five forces, Porters generic strategies and PESTEL analysis. These models help in clearly defining the strategic position, strategic fit and the competitive advantage of the company with respect to sustainability over the future market scenario of the pharmaceutical industry. GSK is one of the market leaders in pharmaceutical industry that comprises of 7% of the worlds pharmaceutical market. It is head quartered at UK and with operation based in US has a long history from 18th century. GSK was a result of two major market holders; Glaxo Wellcome (Burroughs Wellcome Company and Glaxo Laboratories) merged with SmithKline Beecham (SmithKline Beckman and Beecham group plc) to form GlaxoSmithKline Beecham during the early 2000 (Glaxo SmithKline, 2009a, 2009a; Glaxo SmithKline, 2009b). Pharmaceutical Industry A pharmaceutical industry in general can be defined as a private organization where discovery, development, manufacture and sales of drugs and vaccination into the market takes place (Britannica, 2009). With respect to the case study company, GSK proves to be a market leader as a research based pharmaceutical industry providing diversified health care products to influence humans life towards betterment (Glaxo SmithKline Plc, 2009a; FAME, 2009a). Market share: The recent statistics (Euromonitor, 2009a; Euromonitor, 2009b) shows that GSK by holding 7% worlds pharmaceutical market share remains to be the second major pharmaceutical company in the world and it is the third largest leading OTC health care company with a market share of 3.4% following Johnson Johnson Inc and Bayer AG. Recent report shows that GSK has shown increase in their turn over market share in vaccine sales and diversified products in US irrespective of the recession during 2008 (Brian Kevin, 2009). There has been a 10% increase in profit and sales during the third quarter of 2009. This was due to the sales and urgent orders made by various governments around the world for the treating pandemic influenza virus (Milligan, 2009). GSK gives a tuff competition to its major market share holders and generic. The pharmaceutical industry can be classified as an oligopoly market, because two major firms GSK and Pfizer will be working together to obtain solution for HIV/AIDS. Thus this will lead in building barriers for the other minor market competitors to reach the top 5. But still the generic industries in the market remain to be a major force of competition for GSK when its products patent expires (Jack, 2009). External Analysis on GSK The external analysis on GSK is done using PESTEL and Porters five force models. Macro environment The PESTEL analysis is generally used at the macro environment of an industry to understand the key drivers for change. This frame work tells the managers to make efficient strategy based on the PESTEL analysis report. Thus a few core factors of change are discussed below, POLITICAL: The US Govt by approving the license application for the pandemic vaccine allows GSK to manufacture and supply its unadjuvanted vaccine for the use of US people. Similarly many other European and Asian nations have also ordered for this vaccine which in turn will reflect a hike in GSKs revenue (Milligan, 2009) TECHNOLOGY: GSK adopted sourcing technologies from Emptoris solutions to obtain spend analysis, supply and contract management software solutions that empowered the company to add up another billion to the profit (Emptoris, 2009). The result of this was proved with the awards that it received at 2005 Baseline ROI leadership Awards for Supplier coordination and Performance management (Ziff Davis media, 2009) SOCIAL: The demographic changes are similar in Africa (Cutler J. Cleveland, 2009) India and China. The changes taking place raises a demand for increase in the standardization of the people and influencing longer life to them for a fraction of a price charged at UK. Thus GSK finds the emerging markets like these countries and establishes its brand and products to gain advantage of the changing demographic factors (Financial Times, 2009a). ENVIRONMENTAL: The threatening animal rights campaign caused the smaller firms to shift their company headquarter from UK .But GSK with the support of UK govt dissolved the case (BBC news, 2009a). LEGAL: The patent protection has been a major issue while making a sales competition with the generic manufacturers (Jack, 2009a). ECONOMIC: The recent economic recession that hit the US and UK market made GSK to cut jobs in selected plants (Decision news media, 2009). The analysis has helped in defining the extent of macro environment that supports GSK through it progress by providing few facts that remains to be driving factors to bring change for the companys revenue and brand image. However, certain environmental issues and legal factors can make the investors to rethink. Finally UK govts dependency on GSKs share towards economy is an added advantage that will remain ideal. Industry and sector: The Porters five force framework explains the influence of competitive forces surrounding an organisation. The key factors like exit barrier for existing company and entry barrier for new entrant (Gassmann et al, 2004 p21) to emerge as a rival to GSK are discussed below. Power of buyer: Power of buyer may not be a major issue for a new potential entrant to consider, but he cant stick to a single supplier. Considering GSK, it maximizes the number of chemical supplier to avoid supply disruption which results in loss in market share. On the other hand it minimizes the number of machinery and equipment to single supplier for processing products to maintain identical standard (Pierce Lisa McTigue, 2004). Power of supplier: The power of supplier is very low in the current pharmaceutical market because procurement through reverse e-auction (Science Direct, 2009) results in low switching cost (Gassmann et al, 2004 p23) and it is being followed effectively by GSK. The high supplier concentration ratio in pharmaceutical industry makes the suppliers to liberate their powers over the buyers. Threat of substitute: Threats from generic manufactures (Jack, 2009a) of drugs, have been a major threat to GSK because price competitiveness is always a major attraction to insurance company, International bodies like NICE to approve and for the end customers. Threat of entry by a potential entrant is medium. A new entrant can be former chemical manufacturer or supplier then the complexity for the company to emerge into a pharmaceutical company is quite easy. Regulative forces: The major issue in a pharmaceutical industry can be the patent protection, changing trade law and taxation, tort law (Glaxo SmithKline, 2001), approval from FDA (Russell, 2008), European and other regulatory authorities. Rivalry: Globalized leaders such as Merck, GSK, and Pfizer have remained as strong rivals in launching new or updated products (Griffiths, 2006). Competitors: The critical success factors are influencing aspects of a product that are valued by the customer/consumers. Thus the organisation has to consider these factors for taking advantage among their competitors (Johnson et al, 2008).As discussed before GSK deals with prescribed drugs and non-prescribed drugs (OTC). Thus these diversified products that it manufactures have various customer and consumers. There are four critical success factors identified in GSK as per customers valuation. They are Value, Variety, Share return, Skilled clinical testing, Value: OTC products can expect a lot of price sensitive customers buying those in the shops. However, the prescribed drugs which have less price conscious patients and more public and private hospitals. Drugs purchased by the hospital board are checked for its cost effectiveness by national organisation like NICE. GSK with high brand images looses the market due to low cost generic products after the expiry drugs patent. So GSK has to consider about the cost factor to overcome the price war. Effectiveness: Generally the drugs with more effectiveness towards the medical problem are preferred by the end customer. GSKs LEVITRA ® (Glaxo SmithKline, 2009e) which had 25% higher efficiency than it competitors drug Viagra gained an edge. Skilled Clinical testing: It is a major concern for NICE and NHS in UK. They are more concerned about the side effects that a drug can cause if it is not properly tested. (Glaxo SmithKline, 2001). Variety: diversified products with high variation are always expected by the consumers globally. GSK develops OTC products, prescribed drugs and orphan drugs (FAME, 2009). So this factor is not an issue for GSK since it has a high to make further improvements. Internal Analysis on GSK The internal analysis on GSK has been basically carried out by analysing the strategies of the company. Strategies of GSK To make a general analysis of competitive advantage the company is facing through its strategies, Porters generic strategy tool is been used (Porter, 1998a; Porter, 1998b). Porters generic strategies consist of 3 basic subdivisions such as Cost leadership, Differentiation and Focus strategy. GSK use certain strategies to create an unassailable position or outpace the competitors in the pharmaceutical industry. Considering the past 5 years GSK has effectively chosen and implemented several strategies to meet its goals. But not all those strategies have produced expected results. Cost leadership: According to porter risk outcome from having cost leadership distracts a company from possessing diversified products (Porter, 1998a). GSKs strategies have never aimed for having a cost leadership. Their major concern was to produce cost effective drugs by sourcing globally through reverse auctioning and not producing low cost drugs like the generic manufacturers who wish to position themselves in low-cost position in the industry. So GSK cut and save expenses in production and procurement to avoid the risks in differentiation as mentioned by porter Differentiation: GSK follows the strategy of MA on various biotech firms around the globe to make a use the latest technology for its drug discovery and development. This adds value to the product and the people pay the premium price fixed by the company. GSK invests more on Research Development for adding more value to the product. Recent alliances with Harvard Stem Cell Institute (Glaxo SmithKline, 2008a) and acquisitions such as that of Stiefel Laboratories and Genelabs (Glaxo SmithKline, 2008b) provide added advantage to the research and development of drugs. Competitive Advantage Resources The resources can be classified into tangible, intangible and human resources. Tangible: This can be diversified into financial and physical tangible resources. The financial resources are cash, securities and borrowing capacity (Hitt et al, 2009). Financial resources and physical assets are identified and valued in the firms financial statements. Database (ORBIS, 2009) reports GSKs balance sheet tangible asset value to be $14,108,592. The physical assets include labs owned and leased, land space for offices, manufacturing plant, medical equipment, non-medical equipment. However, the primary objective of resource analysis is not to value a companys assets, but to understand their potential for creating competitive advantage. Hence therefore GSKs tangible resources are threshold resources. Intangible: The intangible resources are the most important rather than tangible resources (Hitt et al, 2009). This is because the company introduces its premium price with the confidence to the brand image it has. And the people who have no idea about the same product from an unknown company prefer the branded product at the premium price. The intangible resources of GSK are generally the brand image, Government support to protect the patent, good will of the company, public relation. The global public policy in Glaxo SmithKline (2007) states that, Patent protection stimulates and fundamentally underpins the continued research and development for new and better medicines for diseases including those which occur in the developing world. Without adequate intellectual property protection, the medicines that are needed in the developing world are far less likely to be developed. (2007:p.2) And a cover story from Business week (2007), states that, GlaxoSmithKline discovered that, by investing to develop drugs for poor nations, it can work more effectively with those governments to make sure its patents are protected. Thus its clear from the above statement that GSK which finds the emerging countries like India, China and under developed markets for its drugs. The company uses the strategy of preferential pricing system to obtain goodwill, patent protection from the government and to boost itself as a monopoly in the market. Thus brand image and UK Government support are the unique resources of the company. Human Resources: The human capital of GSK measures to be the highest among all other competitors like Pfizer, Roche and Johnson and Johnson. There are 101,133 employees working as a part of GSK worldwide in various departments of research, development, and production. GSK alliance with state owned university carries out its research with the scientists and students there at the labs (ORBIS, 2009). Capability Prahalad and Hamel state that the term organizational capability can be coined as firms capacity to deploy resources for a desired end result . (1990: p 79-91). According to (Prahalad Hamel, 1990) Core competences are those that contribute to customer value, and to enter new market. The key capability factors are, Ability to merge and acquire: GSK has the capability to merge and acquire firms of same or different industry for lateral and vertical integration. The company has the ability to work along with rival market holder Pfizer(Pharmaceutical marketing, 2009) and it has merged with dermatology specialist Steifel. MIS: managing information system is one of the functional capabilities obtained through vertical integration with software solutions organisation like ORBIS. GSK choose to use a Lean Sigma approach to analyze the issues and develop a long term solution that supports the needs of a global company of their size (Orbis, 2008). Vertical Integration: GSK advisor uses the services of PricewaterhouseCoopers (Pricewaterhousecoopers, (2009), which provides Human Resource Services to manage compensation, pensions, share schemes and wider reward, technology, training and tax. Research and development: as a part of organisational capability GSK possess the ability to make research various drugs according to changing market demand (Glaxo SmithKline, 2009f). GSK has the ability to integrate the functional capabilities to form the value chain. Aligning Resources and Capabilities The capability and resource together form the key competitive advantage when exploited together to execute the strategy (Prahalad Hamel, 1990). In the process of aligning the resources and capabilities it is necessary to understand the companys superfluous strength that is the RD and effective vertical integrating capability. GSK finds emerging market like China and India and under developed countries of Africa. Then the management members along with the team that analyzed the market (cross functional capability i.e, developing new product) discusses about the demand of the country and decides on a perfect product to market in that country. GSK gained popularity of horlicks in India by late 1930 itself. Horlicks was launched a sleeping aid in Britain (Telegraph, 2005) and as a supplementary malt drink in India, where it holds a market share of 75% in health drink sector (Somvanshi, 2009). It also supplies drugs of great demand like H1N1 vaccine as per order made. GSK makes an agreement with the government for protecting its patent to provide the drugs at a lower cost. As these are emerging countries that are ready to allow large foreign investment accepts the deal for patent protection. Thus GSK with its financial resource targets enters the developing market with the objective establishing its brand as w ell as avoids the threat of generic industries. By acquiring, merging or by creating alliances with other existing firms who are specialized in other fields, the knowledge and skills of the employee are used to develop newer products under its ownership of GSK (Ruddick, 2009). Generally the pressure to merge with other firms builds up, when a companys block buster drug is about to expire. By this practice GSK builds up its strength to compete the challenge with newer and innovative products. However GSK has failed to exploit the resources and capabilities to its strategies at its maximum extent to attain regulatory approval from U.S. Food and Drug Administration (Russell, 2008). Conclusion It can be argued that the GSK is perfectly in the growth stage. However company has to concentrate on innovation, developing block buster drugs, and efficiently restructuring the pipeline, rather than concerning about the off-patent. The key issues that the GSK face now is, the low returns provided to the investors and share holders. The increasing cost of the production and development of drugs increases the possibility of higher sunk costs. The outlook of pharmaceutical industry as a whole suggests that the industry may run out of highly skilled scientists in the future but still remains to be the most attractive industry with high barrier to entry. 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Wedding Speech Delivered by the Bride -- Wedding Toasts Roasts Speeche

Wedding Speech Delivered by the Bride Hello everyone. I guess this is slightly unusual - the Bride doing a speech - but as you all know, the chances of me being able to stay quiet whilst everyone else does a speech were pretty slim. A good speech, they say, should be like a mini-skirt - short enough to be interesting, yet long enough to cover the essentials! So here goes........ Thank you all for coming to share the day with us. Many of you have had to take time off work and/or travelled a fair distance to be with us today - we really do appreciate the sacrifices that have been made for us. Of course, there are some faces missing from this celebration as I look round the room and for whatever reason, cannot be with us to share this special occasion. I'd like to make a toast now to the different people we've known and loved who are looking down on this celebration and hopefully having a little one of their own up there! Ladies and Gentlemen, would you please stand and raise your glasses to 'Absent Friends and Loved Ones'. Thanks to everyone who has helped in one way or another. I won't mention names as I'll more than likely forget someone and upset them! Special thanks to Mom, Dad, Irene and Jimmy for their generous contributions. Also, thankyou to Irene and Jimmy for raising James so well, althoufg I understand that the warranty's out of date and the refund deadline has long since passed. I think I'l... ...finally start to let himself go! Anyway, thankyou James for turning up today, on time and appropriately dressed. (Turn to hubby) You are the love of my life, my best friend and now my hubby. I don't think anybody could be as happy as I am today and I can't wait for us to share the rest of our lives together. I'll drink my own private toast to James later. Iwould now like to propose another toast, this time to you, our guests. (Get hubby to stand up) Cheers everyone! I had a great laugh writing this speech and even more of a laugh delivering it - especially as the Best Man (and everyone else) had no idea it was coming and he was geeing himself to stand up!! Hope this helps other Brides planning a speech.