New Product Technology

Part A 1. 0 Company Background Softlan is a product under Colgate-Palmolive Company. The small soap and candle business that William Colgate began in New York City early in the 19th century is now, more than 200 years later. It is a truly global company serving hundreds of millions of consumers worldwide. Colgate is a global brands sold in over 200 countries; Colgate, Mennen, Palmolive, Ajax, Softsoap, and Hill’s Pet Nutrition are among the world’s most recognizable household names, trusted and relied upon by consumers everywhere (Colgate Word of Care, 2008). Based on the research, the company’s business strategy focuses on five core businesses: oral care, personal care, household surface care, fabric care, and pet nutrition. In the household and fabric care, Colgate-Palmolive has offered the entire household cleanser product such as Toothpaste, Softlan, and body shampoo and so on. [pic] [pic] 2. 0 Product Attribute Softlan is good quality household products that provide to the family. Softlan is to help make their families clothes feel and smell their best. According to Judy Strauss book, with quality most customers know â€Å"you get what you pay for†. That is higher and consistent quality generally means higher prices, thus maintaining the value proposition (Judy Strauss, Adel, Raymond, 2005). Softlan is adapting a premium price position to comparing with other brand Softener such as Good maid, Downy, Petals and so on but the customer still will purchase it because of the Softlan quality. The offer benefits of Colgate-Palmolive Softlan are as below: ? Static free ? More comfortable to wear Makes ironing easier ? Gives your family’s clothes an irresistible softness ? Leaves a pleasant fragrance on clothes ? Long lasting fragrance for up to 16 days (Colgate World of Care, 2008) These all the benefit of Colgate-Palmolive Softlan is offer based from customer need and wants which is be able to satisfy the users. [pic][pic] [pic] [pic] 3. 0 Branding Branding is very important to the Colgate-Palmolive Softlan to gain the compet itive advantage from the competitors. A brand is a promise to customers. Delivering on this promise builds trust, lower risk, and help customers by reducing the stress of making product switching decisions. Example like when the customer want to purchase Softlan in the hypermarket but there are many brands so the customer will choosing the brand that they will trust. The selling price of the Softlan Ultra is higher than another Softlan price but the customer still will choosing Softlan Ultra product which is because under the brand name of Colgate-Palmolive and it is also an old brand in the fabric softener product, therefore customer will more trust to the quality of the Softlan Ultra. Based on the research, Colgate-Palmolive Softlan is successful to build the brand name in the customer mind in Malaysia and Hong Kong but there are a lot of new brand was market in the product so Colgate-Palmolive still need to improve and maintain the sales of Softlan in the market with another way. Based on the research information has show that in fabric softeners product, where Colgate is No. 1 in Hong Kong and Malaysia, new sizes and fragrances are adding incremental Market share (Colgate Strategy, 2006). 4. 0 Competitor Analysis Softlan being one of the top fabric softener in Malaysia would need to compete with another competitor in Malaysia market. There are few competitor brands in the market which are Downy, Petals, good maid and so on. All of this fabric softener will offer the similar benefit of softener to customer. Softlan would be competing with this entire brand by using different media, offer differentiation product and produce what the consumer wants in the market. Softlan Company is very smart; it is entered into the hot weather country market which no other softener has entered. Having the Softlan is being able to help the user solve their clothing smelly problem. The Softlan is 4x concentrated with a rich formula that deeply penetrates fabrics and with long lasting fragrance for up to 16 days. |Category |Brands |Chief Competitors | |Fabric Softener |Suavitel, Soupline |Procter & Gamble | [pic][pic][pic] 5. 0 Target Market Softlan target market is large. It is targeting to have family people, single working people and student. Nowadays, every people were busy to work especially in Town so every people also want fast and smell best. Especially working people and student, Softlan can help them to ironing their formal with easies and fast. Furthermore, it also can help them to leaves a pleasant fragrance on clothes. Besides, some big families will not enough space to dry their clothes so all the clothes will hang it together and Softlan will help them to leaves a pleasant fragrance on the clothes. . 0 Positioning Positioning is an important tool those use to reach the user effectively. Softlan has positioning their product with the word â€Å"Soft as a mother’s love† in the website through their target customers (Colgate Word of Care, 2008). Which mean that Softlan communicate with the customer after using the Softlan fabric softener to wash the clothes, when wearing will feel soft and comfortable like our mother love. Sof tlan fabric softener is using benefits positioning to support a distinct perception in the consumer mind. In additional, Colgate-Palmolive is providing different type and flavor of fabric softener to the customers. It is to satisfy different customer with different taste such as Softlan ultra is using four times (4x) more softening and long lasting fragrance in 16 days; Softlan relaxing is the softener that the smell can release the stress of the consumer and so on. Softlan has positioning it product in the customer mind by using special flavor which is Relaxing variant with Lavender & Ylang- Ylang essentials oils or the Energizing variant with Bergatnot and Jasmine essentials oil. After using the Softlan, it will help the customer feel relax and wear the clothes more comfortable. Softlan has using marketing strategy of advertise in website, in television in 2007, magazines and so on. Those are few marketing strategy that has been using by Softlan to strengthen their positioning in Malaysia in the hypermarket. In the long run, Softlan has succeeded to build Softlan branding by using the strategies above. The positioning strategies will help Softlan to gain the largest market share in the market. 7. 0 Pricing Strategy Softlan position itself as a premium price of product as mention above. Although it’s pricing is always higher than another brand such as downy. The product is almost same with Softlan but in pricing downy is always cheaper than Softlan. Besides, downy sometime also will sell in offer price within add 20 liter. According to the market research, Softlan price is selling in higher price than another brand it is because it doesn’t want to play price war in the market with the competitor it will lose control in product pricing. Softlan is selling like normal price to their customer nevertheless the customer still will purchase it; it is because the customer trusts to the Softlan quality and brand name. 8. 0 Consumer Behavior Colgate-Palmolive Company was considered about the consumer situation and start to understanding the consumer behavior. Based from the vision of Colgate-Palmolive Company is want to become the best among the consumer product by understanding the consumers and consumer expectation better and by continually innovating and improving their products, services and processes (Colgate-Palmolive Company, 2006). Therefore, Colgate-Palmolive company has successfully created several flavor of Softlan to attract more customer and student when start to market it. Until today, Softlan still strong on its position by providing different flavor, easy to use and bring a lot of benefit to the users. This reason will bring Softlan continually having a big market in fabric softener market. In the other hand, Colgate-Palmolive company also has consider that nowadays people are facing stress problem with the work or family therefore there was come out the new Softlan that the smell can be relax to the people and feel comfortable. Besides that, using Softlan also can help the users ironing their clothes with easy and fast so can save time of the consumers. Softlan also know that nowadays the consumer was also because of the outlook, design of the bottle to buy it. Softlan understand that especially most of the younger people look for the bottle design. Besides, nowadays the consumer also likes to purchase small bottle Softlan it is because it is more portable and easy to keep. Thus, Softlan was produce the design of small bottle in the market to satisfied the consumers. Besides, the company also has using a slogan to promote the Softlan which is â€Å"Soft as a mother love†, it is easy and effectiveness way to remember by all the Malaysia customers. 9. 0 Communication tools Softlan always having advertising and promoting in hypermarket or media. This is a useful strategy that applied by Softlan. Based on research, it has shown that 44% of supermarket shopper notice messages delivered and 34% are influenced by in sore media in making brand purchase decisions (Super Guru Home, 2005). That is why that Softlan always has promoting their brand by using different in-store media to the customer. Besides, Cleaning Agent-Laundry ranked the third fastest growing category in the first half of 2006 due to an increase in ad spend by Softlan on Television or another media (Appendix 2). It is the effective way to help the Softlan brand name know-well in all hypermarket of Malaysia. Part B 10. 0 Method of Advertising A creative message strategy is one of the important factors that could determine the success of the advertisement. Besides that, the company use advertising to create awareness to the customers which is to attract more people knows about the brand name. Presently, Softlan is adapting behavioral path to make consumers tell other people about the information of product by increase consumer purchase and continually purchasing which is almost similar like â€Å"Word of Mouth† strategies it is can expand the information to everywhere. Softlan also has using cognition path which is to send the message to users how the product can solve the consumer problem. Based on the market research, Softlan has using few different strategies: ? A premium price ? Arrange the Softlan product in the middle space of the rack ? Innovation packaging ? Product innovative Based on the proposed concept, there are needs to using three media advertisement in the hypermarket to engage the consumers interesting, help Softlan to build brand and to increase the sales of the product. There three advertising are floorstoppers in hypermarket entrance Aisle, Event at middle and trolley sticker. From this three advertising and promotion campaign will help Softlan to increase their market share and brand name among the competitor in the market. 11. 0 Floor stoppers in hypermarket Aisle [pic] [pic] Exhibit 2. 0 Direction Floor stopper Floor stoppers in oversea is very famous advertising strategies in the hypermarket or everywhere of the street. Softlan is using floor stoppers to create awareness of the consumer in the hypermarket Aisle. The error floor stoppers is placed entrance on the floor of the product aisle. When a consumer walk pass by the aisle, all the product will arrange on the shelf in one row which will very hard to attract people to saw the product and purchase it. The product would not be to attract the customer to walk close to the product and look at it. If the window shopping customer will not walk through the product aisle it because they just want to walk only but if they saw Softlan floor stoppers on the floor, it will attract them to walk close to saw the product and maybe will attract them to purchase it. At first, the direction error with some Softlan message of floor stopper will put on the entrance floor of the aisle which is to attract the customer feel curious and walk through the aisle with follow the error direction. After that, the customer will saw the product floor stopper which is directly in front of the product it would be attract the consumer to find the product easily or attract more the new customer to know the Softlan product. [pic] [pic] [pic] [pic] Exhibit 3. 0 product floor stopper Furthermore, creative messages will be used to catch consumer attention and look at the product. In the floor stopper, the promotion message and picture is being used it which is tell the customer that saving the money if purchase the latest Softlan product which is ultra Softlan and also will using product picture in the 3D floors stopper to be more appeal to attract attention of customer. In using floors stopper would be an effective advertising in the market. It is because normally when the customer decides to buy they just will walk near the product if no they will just walk through the aisle only and cannot saw the product with easily. Therefore the benefit of floors stopper is when consumer walks near to the Softlan floors stopper they will consider to purchase the product that receiving by the 3D product picture and message on the aisle floor. It is because normally on the shelf will market a lot of similar product but different brand and it will make the customer confuse and hard to find the product. Based on the book, floor advertisement at around the product shelf can help Softlan to increase products sales by much as 25% and attract more new customer to try the product (Rosenbloom, 2004). Floors stoppers advertisement can effective to build branding in customer mind. On the other hand, floor stopper in hypermarket aisle also can be as an extended shelf space of the product and dominance of the aisle for the advertisement of Softlan product. The pictures of Softlan floors stopper refer to exhibit 3. 0. 12. 0 Event at middle of hypermarket By using Softlan event is an effective media nowadays trends. The product event can be like purchase the product up to ten ringgit will get chance to win the voucher or selling the product by using promotion price which is mean selling the Softlan product in the lower price and introduce the latest Softlan products. Softlan can choose to have this event it is because the event can attract more customer attention to the product and know the product features. To having this event will be able to attract more the potentials customer, it is because the customer will think that the price will cheaper than normal day so they will go to join the event to get the free gift or purchasing the Softlan product with promotional price. With having this event Softlan Company can be face to face provide the Softlan information to customers. The benefit s of Softlan having an event is customer data can be collect for analysis and can understand more customer behavior in the hypermarket. Thus, some cross-selling will be implementing in the events. It is also can build customer relationship to increase the customer services of Softlan and also can understand the trend of market. From the event, Softlan Company brand name will always keep in customer mind and can increase the number of new customer to purchasing Softlan products. Besides that based on the event can direct communicate with the customer and know what they wants. 3. 0 Trolley Sticker Trolley sticker is meant that the Softlan product promotion or information sticker can be stick on hypermarket trolley. Softlan can use the sticker advertisement to attract every walk in customer. It is an effective way and easy to advertise Softlan product through the sticker to create customer brand awareness. The advertisement can be saw by every customer in the hypermarket whe n they using the trolley. When the customer saw the promotion message or picture them will feel curious and will finding the Softlan product place to see it. The benefit of the Softlan trolley sticker is can reduce the advertising cost and also can expand the advertisement space of the products. It can be create awareness to all customers who are shopping in Carrefour. 14. 0 Conclusion As a conclusion, all of the media strategies can be effective advertising tools in the market. Softlan can be using this three media advertising to increase the number of customer, increase the sales, and create the brand awareness for the customer. It is an effective tools using by Softlan to compete among the fabric softener competitors. References Colgate-Palmolive, 2008, â€Å"Colgate world of care†, Accessed by 17/8/08, available on: http://www. colgate. com. my/app/Colgate/MY/HouseholdCare/ProductRecommender/FabricSoftener/PDPs. cvsp? product=SoftlanUltra -Supermarket Guru, 2007, â€Å"Spontaneous Supermarket Sales†, Accessed by 19/8/08, available on: http://archive. supermarketguru. com/page. cfm/15585 -Reuben Mark,2008, â€Å"Chairman of the Board† Accessed by 30/8/08, available on: http://www. colgate. com. my/app/Colgate/MY/Corp/ChairmansMessage. cvsp -Colgat-Palmolive, 2008, â€Å"The New York Times†, Accessed by 3/9/08, available n: http://topics. nytimes. com/top/news/business/companies/colgate_palmolive_company/index. html? excamp=GGBUcolgate-palmolivecompany&WT. srch=1&WT. mc_ev=click&WT. mc_id=BI-S-E-GG-NA-CT-colgate-palmolive_company -Bina Thompson, 2008, â€Å"Earning News†, Accessed by 9/9/08, available on: http://investor. colgate. com/print_release. cfm? ReleaseID=114277&ReleaseType=Earnings -Farlex, 2002, â€Å"The Free Library†, Accessed by 18/9/08, available on: http://www. thefreelibrary. com/The+top+50-a090607513 -Nixfon, 2006, â€Å"Brand Equity†, Accessed by 19/9/08, available on: http://www. randequity. com. my/news/news-Fifa2006. htm -Global Financial Review, 2007, â€Å"Dollars in Millions Except Per Share Amounts†, Accessed by 22/9/08, available on : http://investor. colgate. com/downloads/PDF2_18-39. pdf -Coloribus advertising archive, 2008, â€Å"Coloribus†, Accessed by 26/9/08, available on: http://www. coloribus. com/paedia/prints/2007/07/08/203482/ ColgateStrategy, 2006, â€Å"Highligh†, Accessed by 15/10/08, available on: http://investor. colgate. com/downloads/ar97. pdf Book -RosenbloomJ, 2004, High Noon in Aisle Five, Published by Inc. Magazine Boone,L, E, Kurtz, D, L, (2005), Contemporary Marketing, 4th Edition, Prentice Hall. -Strauss, J, Ansary, A, El, Frost, R, (2006), E-Marketing, 4th Edition, Prentice Hall. Appendix 1 In-Store Media Can Spur Spontaneous Supermarket Sales August 9, 2005 A new study reveals that 44% of supermarket shoppers notice messages delivered by in-store media, and 34% are influenced by in-store media in making brand purchase decisions. One key finding of the study, conducted by Mediaedge:cia, was that a strong correlation exists between shoppers noticing an in-store ad or promo tion, and that prompting an impulse purchase. However, not all forms of in-store media are created equal, nor is the effectiveness of each to different segments of shoppers. For instance, end-aisle displays and store flyers are the most noticed form of in-store advertising overall, while shopping cart ads and in-store TV ads are largely ignored by today's â€Å"on-the-go† shoppers. And, despite the rhetoric surrounding our time-challenged society, 51% of supermarket shoppers still move through every aisle of the store. A shopper's age can hold the key as to how responsive that person may be to various forms of in-store media: †¢ Shoppers age 55-64 are most influenced by product demos †¢ Shoppers 45-54 are 66% more likely to respond to flyers †¢ Shoppers 35-44 respond favorably across many in-store media including product packaging, check-out line advertising and ads outside the store (outside the entrance and in the parking lot) †¢ Shoppers 25-44 are most driven to spontaneous, unplanned sales by shelf signs In terms of gender targeting, females remain the primary supermarket shopper, and the study reveals that in-store ads are generally effective in communication with female consumers. They often hold the key to triggering spontaneous purchases – particularly if they are tied into a deal. The exception is poster ads hanging from the ceiling, which are largely ignored by female grocery shoppers. Many of those women are heads of households who bring their kids along with them on shopping excursions. It should come as no surprise, then that among them, 61% claim their children influence their brand decisions, underscoring the need for in-store communications to this age group as well. Over the past decade, the term â€Å"in-store media† has taken on a whole new meaning. Once consisting of simple signage by retailers hoping to promote specials, today, in-store media includes various incarnations, including end-aisle displays, floor signage, kiosks, interactive flat panels, and in-store audio and video transmissions. In-store media has a huge advantage over traditional media in

Interview with a Senior Citizen

My husband was a pilot In the Alarm Force ? o handsomely Both of my parents died when they were fairly young. My mother at 56 and my father at 42. They were both ill. I had my first daughter when I was 28 and my second daughter when I was 31 . I started working at the Flamingo Hotel right out of high school as a front desk clerk. After I got married when I was 20, I became a stay at home mother and am currently living off of alimony checks and social security. Q: Did you go back to work after your daughters left home (Initially)? A: No, he left in 2007 right when the economy was crashing and it was Impossible to find a Job.Q: What are the most memorable experiences that you have had? A: The most memorable experiences that I have had are all good ones. My marriage Is one and the birth of my children. Q: What would you say were most stressful life's events? A: The death of my parents was very stressful for me. They were all the way in Pennsylvania and traveling across country for the f uneral was hard – emotionally and financially. The separation from my husband was especially stressful; I thought I was going to have to file for bankruptcy and foreclose on the house. Q: If you had the opportunity to change anything would you and what would that be?A: Of course I would change the passing of my family members besides that It would be my spending habits when I was young. Maybe then, I would have more In my savings. I try not to live In a world of what-It's. No regrets my husband always said. A: Housework, of course; golf, swimming, I Jog three times a week on the treadmill I have in the garage. Q: What types of activities do you do to stay social? A: My daughter taught me how to do social media. I go to the country club with the girls every Sunday for a game of golf and a swim when it's really hot.I also do bingo on Friday nights at one of the Station Casinos. Q: Can you tell me about your medical history? Have you had any major falls, bruises or scrapes? A: I do have a slightly high cholesterol but I'm working on lowering that through diet and exercise. Fortunately, I never had cancer or diabetes and let's hope I never do. Q: Are you religious? A: Yes, I don't go to church as much as I used to, but I am still a woman of faith. When my parents passed, it really made me think about the whole scheme of things. Some people allow death to make them feel powerless, but not me.I took it as an excuse to really start living and now I take care of myself better than I did when I was young. It's never too late! Part II: Interview With a Senior Citizen I interviewed my parent's neighbor, a 67 year old woman named Shirley. I met Shirley when I was helping my parents move back into their Lass Vegas home. The experience was very humbling and amazing. Shirley home smelled of cookies and backing bread, the home had a mix of traditional and modern furniture and had a lot of her children's photos on the wall and on tables.Her daughter, who still lives wit h her, was in the kitchen baking. Before taking a seat, Shirley looks out the front window, commenting about the neighbors newest vehicle; apparently they have had many which has not gone unnoticed by Shirley. I started by taking out my phone to use as a recording device. After closing the curtain halfway, Shirley sat down, ready to start and so was l. I started with the basic topics that were listed on the worksheet and asked some questions of my own. I noticed Shirley had a smile on her face every time she spoke of her childhood and her daughter.She responded to all my questions in a positive manner, which made me think she may have been trying to play everything up, but towards the end of the interview, I was able to see that although she had During the interview, when speaking about the deaths of some of her family members, she became a little emotional. When I asked her how she feels about the deaths of her loved now, she responded by saying that while she has come to terms wit h their passing, she knows that she isn't completely powerless when it comes to every day, pushing her to be healthy so she can stick around longer for her daughter.Shirley expressed that the other events that played a major role in her life are the birth of her daughter and her divorce. I gathered that she was a family oriented person and that the separation with her husband was tough on her. Her adult daughter living at home with her and her membership at a local country club seems to help her stay generative (Berger, 2011). Shirley expressed that living with her daughter keeps her young. Shirley recreational and social activities include golfing, puzzles (crossword and Jigsaw), computer games, bingo, and social media.By engaging in mental exercises and active conversation, Shirley will be able to help sustain cognitive function (Berger, 2011). In my assessment of Shirley, she seemed to be a healthy aging adult. When I first met Shirley, I would have guessed that she was a woman i n her late fifties, as opposed to ere biological age of 67. When I asked her questions about her physical activities, I found that most of her exercise was in the form of a thirty minute Jog on a treadmill, which she has in the garage, three times a week.Shirley also expressed that she visits the country club where she golf with friends and swims on occasion. She has not had any major falls, bruises or scrapes, she was very level and by playing golf it can be assumed that she still had good eye sight and accuracy for the ball. Shirley stated that she only drank wine on occasion and did not smoke, but behind ere in the kitchen her daughter shook her head and rolled her eyes, pointing to the two empty wine bottles still in the trash can implying her mother may have been under exaggerating her alcohol intake.Shirley is a woman of average height and weight, Just a little weight around the stomach. When I inquired about her medical history, she said that she has been fortunate enough tha t she has not been diagnosed with anything major, such as cancer or diabetes, but she did state that she had a slightly high cholesterol and is working to reduce that by being more active and eating well. She seemed to be in overall great health besides her alcohol intake.Shirley had great optimism about the future and her kids and about someday being a grandmother. Shirley is in overall good health. She goes on social media, plays golf and bingo to fulfill her social needs. She maintains a good exercise routine and exercises her mind with puzzles. The most valuable information that I received form this interview is to stay active, social, and to take care of my health. Interview with a Senior Citizen I am interviewing my 72-year-old cousin; she is a mother of 4 children, 3Boys, and 1 Girl. She is still married her husband of 55 years is semi-retired from the family business. They both still live in the same house that they raised their 4 kids in. 1. What physical activity were you doing in the past and now in the present? When I was younger I ran the kids everywhere. To school, and school functions, such as sports, clubs, dances, play dates. I went shopping with my sister and mother, with the family or just the kids. I was involved in clubs with my girlfriends such as card games, tennis. I played the piano, did yard work, worked in my garden, laundry. My husband and I went out to dinner, spent time with friends. I also worked in the family business when I could and more so when the kids could work there too or at least help. Now I work at the business 3 times a week, meet cousins for lunch once a month, meet friends for lunch a couple times a week. Still play cards, we take turns on whose house is hosting it. I go with my husband when he shows his cars at the Frog Follies. I spend time with my grandkids. I also have to keep the house up; it has 5 bedrooms, 3 baths, den, living room, and kitchen. I dust, vacuum, and mop floors. I also have treadmill and walk on that, and other excercises I do to keep my joints limber. 2. What do you do to keep yourself mentally alert, any activities or excercises you used in the past and present? Well in the past I helped the kids with their homework so that kept me on my toes. I was also working as the bookkeeper for the family so I was doing a lot of math. I have always read a lot, and I love puzzles, find a word and others. Even now I still work and do the books, I am still reading only on my iPad instead of actual books, still doing puzzles, find the word, and others. I am on the computer or my iPad surfing the net and playing games on Face Book, such as finding hidden objects. Word games, card games and others, I really like cross word on line no erasing. I also took some craft classes on line and learned to crochet, and cross-stitch. I now belong to a book club on line and we read a chosen book and then discuss it, and not just fiction but nonfiction. 3. What meaningful activities give your life meaning? I think spending time with my grandkids gives a lot of meaning to my life, being a grandmother. I did not always get to spend time with my kids. Not like I can with my grandchildren and spending time with my cousins, our family has all but died out except for our generation the 2nd. We all grew up together we were all close. Not our kids they don’t know their cousins like I did mine that’s why we get together now so we can keep in touch, and that’s sad because they have missed out on so much, and I don’t know how that happen with the 3rd and 4th generation of our family. I guess that is why it means so much to me I grew up with them and we are all friends. And we will continue to get together every month until there are none of us left. Our kids come to the lunches but not enough to get know each other. 4. Do you pass on to others what you know, or teach others? Well what crafts I do I have passed on to my granddaughters, just like my mother did, she taught my younger cousin to crochet, and other things. So I am doing the same thing, just like my husband is passing on what he knows about restoring an old car to our grandsons. I know some of my cousins are doing the same thing. I think you should pass on crafts and other thing that we know so they do not die out. 5. What do you do for recreation or leisure now? Well I love cards and still play cards with my friends we get together once or twice a week. My husband and I go to car shows all over the place. I love to go to flea markets and yard sells and will get my sister and we will do that. I still do crafts. I do ceramics, and will take my grandkids with me sometimes. I keep my days full; I am always busy doing something. 6. She and her husband still live in the same house that they have lived in for 45 years; it has 5 bedrooms, a den, living room, kitchen, and 3 baths. It is a brick home out in the country on the Westside of town. It is not out in the boonies like it use to be it is about 5 miles from USI (University of Southern Indiana) but it is not in the city. She still drives they both do, and goes everywhere, she still goes to social events that her and husband belong to. They are very civic minded. For her age she has not slowed down one little bit, she runs her errands goes to the store all on her own. I do not see her stopping what she is doing unless her health becomes an issue, but she has her children that will be there as well as her husband to take her or do for her at any time. As for as environmental issue even the weather does not slow her down, she takes everything in stride, she is not careless, but just has a positive attitude and will continue to do what she has been doing until she cannot do it any longer. She does not feel her age, she does realize how old she is but does not let that define her, she follows the old saying you are as old as you do feel. Part II – My cousin surprises me with her get up and go attitude, she is happy, and projects a very positive outlook for someone her age. She does not let being 72 stop her from doing the things that she has been doing for years. I am sure she has her down days everyone has those but I am sure not very often. She surprised me by all the things that she does in a week’s time, she actually works circles around me and I am her junior by 10 years, it does not seem to bother her that she has aged, she is happy with who and what she has become [ (Berger, 2011) ]. Her overall functioning is amazing; her memory and brain activity does not show any kind of slowing down on her part. When asked about her memories of what she did in the past the way she talked and relived them you would think that it happened yesterday, she is alert, and as total recall, she may have some cognitive problems but I didn’t witness any during the interview. According to our book it states the brain slows down as we reach old age. The elderly does not think as fast as a younger person. When talking with her, she did not have to sit and think about what or how she was going to answer the question there was no hesitation, her recall did not seem to have slowed down at all (Berger, 2011). Her appearance has changed from the blond/brown hair color to a all white color. Her skin is a good color, although it does show some saging under the eyes. She doesn’t wear makeup unless it’s some place required such as funerals etc. She is no more that 5’ 4† she is the shortess in our family and her weight for her size is right. She has no age spots, deep wrinkles, she also does not have the hump on her back like so many adults of her age. She wears reading glasses when she reads but doesn’t require glasses. Her vision has not changed much over the years (Berger, 2011). Her hearing is the same and she says it is better than most of her friends. After looking over the material in our book she is very healthy for a 72 year old women. She keeps activity, excercises, eats the right food, gets enough rest she seems to be doing everything right. Any improvements on what she is doing are very few, maybe slowing down a bit might be in order, but that’s not likely she has always been this way. She doesn’t take on more than she can handle. She is doing very well on keeping as little stress out of her life as she can (Berger, 2011). Talking to her was interesting and it was not as hard as I thought it might be. I am aware that not everyone will talk as freely as she did to me, but it was very imformative on finding out about someone by asking questions. Taking down the information and then writing it out. I noticed that while talking she was very relaxed, arms to her sides or laying loosely in her lap. She also appeared open to the whole interview, everything about her was open and relaxed, at the time I wasn’t aware I had been watching her in this manner until I went to transcribe my notes. I did it without thinking. I hope to follow her inspiring example.

The difference and the treatment of male and female genders and the Research Paper

The difference and the treatment of male and female genders and the rules they have too follow in the religion of islam - Research Paper Example According to Ouzgane (1), women oppression is highly practiced in Muslim societies in Middle East and North Africa. In support of her claim, Ouzgane claims that the practice of female genital mutilation is highly practiced by Muslims. In addition to this, Ouzgane (21) asserts that some masculinist environment denies feminine both theologically and psychologically, a practice that make the majority of them unconscious. Despite this, some countries such as Iran value the position of women in the society. For instance, Firoozeh (7) asserts that the implementation of Iran’s population policies resulted in smaller families, exponential growth in female education as well as a rise in the age of marriage for men and women. These changes also contributed not only to the empowerment of women, but also protection of women from sticking to Islamic role model. However, it is apparent that nothing can change the role of women in Islamic society. According to Firoozeh, women are still treat ed as mother and wives despite implementation of some policies. In relation to this assertion, Inhorn asserts that women in Islamic have the role of giving birth and taking of the children. Women are also barred from having multiple partners and extramarital sexual relations (Inhorn 12). In other words, women are treated as the property of men, and as a result of this, they are obliged to adhere to what their husbands want them to do. Women in Islamic societies are often barred from raising their voice against their men (Friend 2). Apart from blaming women for failure in reproduction, the Islamic societies also force them to endure childless marriage. During their early stages of women as girls, they are taught on how to shrink into corners, to withdraw as well as to hide oneself because of their gender. In other words, the Islamic societies considered women as subjects to men who needed to be

Understanding the Implications of Finance as a Resource Within a Assignment

Understanding the Implications of Finance as a Resource Within a Business - Assignment Example Understanding the Implications of Finance as a Resource Within a Business The banks and the individuals willing to start the start will move in a contract where the individuals agree to pay installments on monthly basis. The bank will also charge interests for the loan amount. The source of finance with the usual payment period of more than 15 years is regarded as the long term loan. This kind of loan is generally required for the expansion processes or buying a fixed asset. This kind of loan can be achieved from financial intermediaries. A fixed interest rate generally higher than the interest rate on bank loan is accrued in this type of loan. It is required to pay monthly instalments as well as the fixed interest rate. Another source of finance is the short term loan. This type of loan comprises of loan for short periods usually within 5 years. The financial intermediaries have the ability to provide such kind of loans and the contract requires the one taking the loan to pay the principle along with the agreed interest within the specific time period. Ba nks provides overdrafts and charge for its services (Hennessy and Whited, 2007, p. 1). The bank of England sets the rate of interest at which it provides loan to the financial institutions. The interest rate has the potential to affect the interest rates of the commercial banks, the prices of the financial assets and the rate of exchange which can affect the consumer as well as the business demand. Another mode of raising finance is retained earnings. The retained earnings can be increased by generating increased sales which will shed its impact on the profit level and can also be reinvested into the operations of the business (Food and Agriculture organization of the United Nations, n.d.). Explanation of the importance of financial planning Financial planning can be studied from both, individual point of view or from the point of view of a company. From the point of view of the individual, financial planning can be thought of as an integrated approach to ensure the well being of th e individual under consideration (Diatax, n.d.). The importance of financial planning lies in the success of a business. For a company, financial plan refers to primarily to three financial statements i.e. balance sheet, income statement as well as the cash flow statement. The financial plan is created with the plan of the business and it can also refer to the projected income or expenditure for a division of a company or the company itself. The decision regarding the processes of cash flow and the estimation of total cash requirements is also taken into account in the financial plan. Financial planning acts as the backbone of a business and if any company operates without any financial planning it is likely to end up in financial distress or financial grip. If the company runs of the roadmap of solid financial foundation it is assumed that the organization will be able to provide a good act in the realm of payable accounts. The financial planning is helpful for the financial analys ts to withstand the harder times and take advantage of the good times. A good and proper financial planning paves the way for the company when to deal with the outstanding debt as well as the rise in the operating costs. Every company should have a planned financial plan in order to anticipate the conditions of the future. The financial pla

The Institution Of Religion And Its Main Aims Essay

The Institution Of Religion And Its Main Aims - Essay Example The institution of religion shoulders all these human concerns by explaining the unexplainable through applying more intangible terms such as the holy trinity, the purgatory, the reincarnated soul and others. Moreover, the concepts of heaven and hell that myriad of people believes in are social control mechanisms that the church put up in order to spawn a high degree of compliance from its devotees. The latent objectives of religion were the usual departure of anti-religion philosophers such as Karl Marx, Max Weber and the most controversial of all Friedrich Wilhelm Nietzsche. Many atheists or non-believers question the accuracy and truthfulness of the most illustrious literary work produced before the advent of humanity’s incessant malevolence, the Bible. Most atheists believe that the Bible is a compiled forged testimony of people who have lived thousands of years ago. For the empirical mind, oral history is value-laden and much susceptible to manipulation hence making its correctness objectionable. Yet, many non-believers do not entirely discard the truthfulness of the Bible; instead, they are clamoring for a thorough revisiting of the past through speculations coupled with scientific methods to verify the precision of the stories narrated in the holy book. On the other hand, existentialist philosophers not merely disregard the Bible but also the existence of a Supreme Being that is the invincible creator of all. Key figures in the history of humanity’s intellectual tradition placed them in their current position as thinkers to be venerated by their controversial and eccentric ideas, particularly against one of the most influential institutions in the world, religion; it in this argument that I will establish my defiant stance against religion.

The Simplified Acquisitions Methods- Contract Administration and Essay

The Simplified Acquisitions Methods- Contract Administration and Management - Essay Example Government official can make and pay for a simplified acquisition using cash, purchase order, government wide purchase order at the convenience of the company (small businesses in this case). To win this acquisition, the company must simply provide contracting officials with a quotation. Simplified acquisition is a flexible method of purchasing as procedures vary by contract value. It also favors small businesses in the following ways: reduces administrative costs, improving opportunities for small firms, small disadvantaged firms and women owned small businesses, promotes efficiency and economically essential in acquisition of contracts and finally to avoid unnecessary burden for agencies and contractors. The public law established special requirements for the acquisition of commercial items intended to more closely resemble those customarily used in the commercial marketplace. The federal government developed a unit that conducted market research as an essential element of building an effective strategy for the acquisition of commercial items and establish the foundation for the agency description of need, the solicitation and resulting contracts (Office of the Federal Register US, 2010). The government also set specific procedures for solicitation, evaluation and award of contracts. Those procedures were to be adhered to by the contractors, thus making business favorable for small businesses. Other laws set by the federal government to monitor contracting include: contract quality assurance, notification of overpayment and determination of price reasonableness (Office of the Federal Register US, 2010). The use of technology has been an enormous advancement in the business sector; it makes transfer of information from one party to the other easily and efficiently. This therefore saves time as far as acquisition of products and contracting is concern. This can be achieved by attachment of quotations on a mail for

Q1) list and elaborate on the factors that will be affecting the Essay - 1

Q1) list and elaborate on the factors that will be affecting the demand for the following products in the next several years. do you think these factors will ca - Essay Example Additionally, a fax arrives immediately and, more importantly, delivery is instantly confirmed. According to Davidson Consulting, more than 70 million fax machines are in operation today with the demand for fax capability growing rapidly--at a compounded annual growth rate of almost 19% worldwide. While the demand for traditional SLR cameras and films is slated to go down because of the rise in digital photography, the demand for high-end and sophisticated digital cameras is going to increase in the next few years. Since internet and paperless photography is on the rise, the demand for films might come down in the following years. A decade ago, when video and set top boxes were not heard of, video cassettes and CDs were very much in demand. Today, however with the rising popularity of tools and applications like YouTube and video-on-demand, video rented from retail outlets might see a negative growth in the coming years. With the convergence of global businesses, people across the globe are hungry for news and facts affecting global business. The demand for specialized TV programs is increasing. Not everyone is interested in every sitcom. Tastes are getting more and more specialized and people more ready to shell our more for something they feel is important to them. Thus, the demand for "pay-per-view" television programmes will be going up in the coming years. Section B Q2) list and elaborate on the factors that will be affecting the supply for the following products in the next several years. do you think these factors will cause the supply to increase or decrease (draw the diagrams to show the impact) g. Crude oilFactors affecting supply of crude oil: 1. Global reserves of fossil fuels: As the reserves of crude oil get depleted with indiscriminate drilling and use of crude oil as a source of fuel, the supply of crude oil is going to come down. 2. International relations and trade With the global superpowers trying to assert their power over the oil-rich nations of the world, things might come to a stand still and the supply of crude oil from the oil-rich countries might go down. 3. Increase in use of alternate sources of fuel: As alternate sources of energy, solar , tidal, wind, hydel, organic and chemical forms of energy gain popularity, the supply of crude oil might increase in the near future. h. Computer memory chips With the world going digital and every small thing in the world getting more and more dependent on computers, definitely, the demand for computer memory chips is going to increase. These chips will replace books and note-books in schools, paper in business and industrial transactions, games and entertainment and every other field of human interaction. i. Hotel rooms As the world goes global and distances cease to exist, the demand for travel and hotel rooms is going to incr

Effective Processes of Management Essay Example | Topics and Well Written Essays - 2250 words

Effective Processes of Management - Essay Example The strategic management processes are three: strategy analysis, strategy formulation and strategy implementation. These processes are strongly interrelated. None of these processes comes first and the others follow. The order of these processes is not sequential. Henry Mintzberg supports the idea that the decisions in an organization are not always taken on optimal rationality and that the business environment is not predictable. He proposed another model of strategic management where the realized strategy of an organization is a combination of deliberate and emergent strategies. The processes of the financial management are the following: financial planning and financial control. Financial planning controls the financial resources of the organization and it plans the timing and the size of expenses. The financial processes help the organization to generate profits. Financial planning tries to increase the resources of the organization and it takes care of the money invested in the organization by external third parties/investors. Talking about investors, financial planning takes care that the investors will receive reasonable amounts of return on their investments. Change management is a necessary component of any organizational performance improvement process to succeed, including programs like Six Sigma, Business Process Reengineering, Total Quality Management, Organizational Development, Restructuring and continuous process improvement. Strategic Human Resource Management includes strategies concerning learning and development. There is a distinction between learning and development. Pedler, Boydell, and Burgoyne (1989) see learning as being concerned with an increase in knowledge or a higher degree of an existing skill, whereas development is more towards a different state of being or functioning.

Understanding Human Behavior is critical to organizations Essay

Understanding Human Behavior is critical to organizations - Essay Example Understanding Human Behavior It also forms a foundational block for the leadership skills of an individual. It is reported that it can be easier for one to understand others when he understands himself (Beach 28). This is usually referred to the people surrounding the individual. As a leader, one is required to portray a strong sense of self-discipline in order to attain the self-assessment values, which eventually leads to continuous improvement. The leaders should ensure that certain aspects are put into practice before engaging into other people’s affairs. The first aspect is the practice of what one preaches. This implies that leaders are expected to tell people what to do while at the same time do the same thing. They are expected to take ownership of the statements they give to people on the things they expect from them as they are expected to behave the same. Therefore, they are the ones to set these standards. The second aspect is based on the belief that change is always okay. It is good to make changes to the intended target if the leader is in a position of identifying the reason for having a different path (Millan and Melissa 51). These points can be useful in the implementation of the self-evaluation tools used by leaders individually or for the organization. If a leader decides to take a professional image, he should know that the implication is usually positive or negative. Leaders should be well equipped in knowing their weaknesses and strengths, which will help them as they take advantage of the whole concept. They will take their time on improving their weaknesses and using the skills, they have acquired to improve their strengths. This can be done by practicing their coaching skills at the same time implementing their mentorship skills. For a long time, scholars have been arguing in indicating the possibility of an individual being his own leader (Beach 36). This can be supported by the initiative that leaders are suppose to implement rules and helping their emplo yees under the same principles which guide them. This is difficult for many leaders as they are expected to take ownership of all the problems affecting the organization together with the people working in it. This helps the other employees to have self-management, which is comprised of self-leadership. This is the type of mechanism that majority of today’s leaders use in making decision for their workers in the organization. Another argument raised by scholars implies that this is applicable to all the leaders. However, this can be refuted as some leaders have a strong implication of themselves, which will have a different view in establishing their weakness or strength. This is applicable when attempting to look at the changes they are required to undergo. Another benefit of having a self-assessment as a leader is the readiness of production of ideas (Mawson 69). There are cases where individuals will have numerous ideas but will be unable to air them out to the public. Thi s situation is attributed to several factors such as being introvert, low self-esteem or being scared. On the other hand, a self-assessed individual will not accept and will brush them off before they initiate the ideas. Another argument that has always been raised in regards to self-assessment is the genetic association with the leadership skills. It is asserted that there is a strong interaction amongst genetic influence and leadership when it is a question of entrepreneurial skills and running of businesses.

Anselm of Canterbury Essay Example | Topics and Well Written Essays - 250 words

Anselm of Canterbury - Essay Example God â€Å"cannot be even thought of as not existing† (Anselm, 360). Having made the existence of God a given, Anselm defines God as the greatest thing that can be thought of. God is superlative, because the human mind, created by God, cannot conceive of anything greater than its creator, who exists eternally throughout the ages. The rest of his argument proceeds from this definition. If the perfection of God is not accepted, Anselm’s argument does not hold. God exists in understanding, because the concept of God as â€Å"something than which nothing greater than be thought of† can be understood. Something which exists in reality is greater than something which exists only in understanding. If God exists only in understanding, he cannot be the greatest. Since Anselm has established that God is the greatest, and nothing can be greater than God, if follows that God must exist in reality. Therefore, Anselm’s conception of God as the greatest, as Perfect, is the very foundation of his argument for God’s existence. If Anselm’s belief in the ‘Perfect God’ is discarded, his ‘proof’ of God’s existence must be discarded along with

Equity & Expectancy Theory of Motivation Essay Example for Free

Equity Expectancy Theory of Motivation Essay Motivation Explain Adams equity theory Adams’ equity theory is a motivational model that attempts to explain the relationship between what an employee puts into their job (input), what they get out of it (output) and the fairness and justice exchanged between the two (Cosier Dalton, 1983). Inputs include all factors that are perceived as necessary to obtain a return, such as effort, loyalty, hard work, commitment, skill, ability, flexibility, tolerance, determination, heart and soul, enthusiasm, trust in the employer and personal sacrifice. Whilst outputs include all factors that are seen as a return of the job such as financial rewards, perks, benefits, pension arrangements, recognition, reputation, praise, interest, responsibility, travel, training, development, sense of achievement and promotion (Cosier Dalton, 1983). A fair and equitable balance of the two are based on the employees own perception, thoughts and beliefs and are formed through comparing the employees own situation with other employees in the market place along with opinions and comparisons from colleagues, friends and partners (Kreitner Kinicki, 2010). Ultimate Software has been able to provide an equitable balance between the inputs and outputs of their employees through implementing some of the key principles of equity theory. For example they are providing a strong leadership role model through Scott Scherr-the CEO, they are being attentive to their employees’ perception of fairness and more importantly they are involving their employees in the decision making and policy process. In return this has promoted cooperation and team work within the company (Kreitner Kinicki, 2010). More specifically Ultimate Software application of being attentive and involving their employees was demonstrated when their employee suggested that they offer paid adoption leave to their employee and they consequently implemented the benefit (Kreitner Kinicki, 2010). This particular employee was about to adopt herself so she perceived that the output of â€Å"adoption leave† was a fair and equitable reward for her inputs of effort, loyalty, commitment, skill, ability and work (Cosier Dalton, 1983). Thus by listening and implementing her suggestion Ultimate Software met her sense of fairness. In addition they also conveyed to her a sense of  involvement with the decision and policy making process. Consequently the employee regarded Ultimate Software as a fair, observant and appreciative  employer. So much so that she has remained with the company for four years and has since used the â€Å"adoption leave† again. Conversely the company could have chosen not to listen to this particular employee’s suggestion. As a result Ultimate Software would not have implemented adoption leave and the employee would have felt that her inputs of effort, loyalty, commitment, skill, ability and work were out-weighed by her received outputs. This would have been even more apparent if another company in the industry offered such a leave for adopting children. Consequently the employee would have felt underappreciated and would have become demotivated. This would have resulted in the employee reducing their effort and application, and even seeking an alternative job, perhaps one where adoption leave was available (Cosier Dalton, 1983). Another example of the principles of equity theory at work in Ultimate Software is the use of benefit schemes to motivate employees. These schemes endeavour to provide employees with working conditions and policies that give additional rewards above and beyond the basic requirements to meet the perceived outputs of different individuals (Katzell Thompson, 1990). For example an employee who perceived education as a fair and equitable output to their inputs is able to benefit from the company’s annual tuition reimbursement. Whilst an employee who perceives providing health cover for themselves and their family as an equitable output for their input will acquire a sense of fairness and organisational justice through the use of Ultimate Software’s fully paid health premium scheme. These, along with the other schemes mentioned, cater for the differing perceptions, values and sensitivities amongst the company employees. This variation exists because what one employee sees as an adequate reward for their input may not even register with another employee (Blakely et al, 2005). We all have differing sensitivity and to achieve organisational justice and fairness between the inputs and outputs of individual employees the company needs to comprehend what makes their employees tick to enable them to perform their role (Wilson, 2005). Basically Ultimate Software has applied the principles of equity theory to motivate their employees. The company has provided outputs which meets their employees perception of fairness against what they input into the company (Katzell Thompson, 1990). This balance between input and output has not  only been achieved individually but also with in the work place and the industry. Consequently Ultimate Software has raised the level of employee satisfaction and performance. Explain Vroom;s Expectancy Theory Vroom’s Expectancy Theory is another motivational model but slightly more complex in its application. The model uses the three variables expectancy, instrumentality and valance to explain how an employee is motivated to behave in ways that will produce a desired combination of expected outcomes (Kreitner Kinicki, 2010). The first variable, expectancy is the belief that an ones effort will result in the attainment of desired performance goals and is based upon the employees past experiences, self-confidence and the perceived difficulty of the goal. The second variable, instrumentality is the belief that one will receive a reward if the performance expectation is met and is connected to the employees’ levels of trust in leadership, control over rewards and the company’s formalised policy. The final variable, valence is the value that one places on the rewards and is based upon an employee’s needs, goals, values and sources of motivation (Lee, 2007). It is Vroom’s belief that these three variables interact psychologically to create a motivational force that will cause employee to acts in ways that will bring pleasure and avoid pain (Pearson Hui, 2001). An example of Ultimate Software using the principle of expectancy theory to motivate their employees is through the use of their education benefit. For this to be a motivational force the three variables of expectancy, instrumentality and valance must be perceived by the employee to be met (Pearson Hui, 2001). That is to fulfil expectancy an employee will need to believe that their extra effort and time put into studying a degree, or similar educational course, will result in them completing the program. To fulfil instrumentality the employee must believe that  once completed they will be rewarded with either a higher pay and or a promotion within the company. And finally to fulfil the third variable valance, the employee will need to value that the pay rise and/or prom otion are important enough to apply extra effort and time. Basically they will need to desire the outcome enough so that they will achieve it (Pearson   Hui, 2001). Jose Chinea of Ultimate Software was able fulfil the three variables of expectancy, instrumentality and valence. Firstly Jose believed that the masters’ degree in management and information systems was achievable. Secondly he believed that the extra effort put into studying a master’s degree would lead to the reward of obtaining a promotion with Ultimate Software. And finally because he personally understood and valued education as an opportunity to grow he therefore believed that the efforts he put in, along with the rewards obtained from Ultimate Software, would be worth it. Conversely, if Jose was not able to fulfil any one of the three variables then there would be no motivational force for him to study and therefore use the educational benefit. This would happen only if he believed that he was unable to complete the master’s degree, the company was not offering a suitable reward and he perceived education and the rewards of education to be of no value. Conse quently, the internal attributes of the employee which incorporate their attitude and value systems are an extensive determinate of motivational force in the expectancy theory model (Pearson Hui, 2001). Another example of Ultimate Software using the principles of expectancy theory is the CEO’s, Scott Scherr’s leadership role (Isaac et al, 2001). Scherr adopted the principles to equip himself with tools to influence the psychological process resident in his employees. He implemented rewards systems that are uncommon. These rewards include matching 30% of employee superannuation contributions and also stock options and both are applied in an appropriate fashion to pull or influence his employees. This strategy enhances the level of personal motivation of his employees as they wish to maximize their own self interests. For example an employee who wishes to boost their retirement savings would opt for the reward scheme of matching superannuation contributions. Whilst an employee who wishes to boost their immediate wealth, or even just considers investing to be of value, would opt for stock options. In applying a strong leadership style Scherr has created an environment within his company that inspires his employees to achieve a level of performance that meets the company expectations, and even perhaps exceed the employees own personal expectations. This has been achieved through Scherr consciously choosing a leadership strategy that pulls rather than pushes  (Isaac et al, 2001). The positive implications of using a motivational model such as expectancy theory include reduced employee turnover, improved morale and higher productivity (Pearson Hui, 2001). For Ultimate Software this has resulted in the company obtaining the title of best medium company to work for in America.

An Ethical Examination Abbott And The Pharmaceutical Industry Commerce Essay

An Ethical Examination Abbott And The Pharmaceutical Industry Commerce Essay Despite the pharmaceutical industry having notable contributions to society, including the research and development of the oxycontin to relief peoples pain, there has been some ethical problems that arose. The industry has the patent issue and lots of people abuse the drug. It was thought of as an unethical issue from the Abbott case and companies producing oxycontin to get benefits. Some companies also pay physicians to prescribe their drugs. Whereas, oxycontin is the best drug to release pain and pharmaceutical industry and it is very beneficial to economy. This report will examine the different aspects pertaining to the topic of Ethics of the Pharmaceutical Industry. On overview of history, development, and value chain of the Canadian pharmaceutical industry will be discussed. Then, the PEST analysis of Abbott is being talked. The essential shareholder groups of interest are on discussion in details. The approval process for new drugs, the potential over-medication of societies and the role of pharmaceutical companies are described. Meanwhile, the economic and social impacts of the production and distribution of Oxycodone from the following perspectives will be analyzed: 1. Utilitarianism; 2. Rights; 3. Justice; 4. Virtue Ethics. This report concludes with the issue management approach demonstrated by the Canadian government and Carrolls four part corporate social responsibility definitions, and which is from the perspectives of economic, legal, ethical, and philanthropic. Corporate social performances, such as auditing, reporting, com munication should be recorded in terms of making the management know the problems or updates within the lower levels of management to make effective policies. Table of Context Introductionà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.pg .4 Part 1 History Developmentà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.pg.4 Value Chainà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.5 Comprehensive Analysis of the Industryà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..pg.7 Part 2 Pest analysis for Abbottà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦pg.9 Six Main Stakeholders Interestsà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..pg.12 Part 3 The production and use of Oxycodoneà ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.pg.15 Drug patentsà ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.16 The approval process for new drugsà ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.pg.17 The potential over-medication of societies and the role of pharmaceutical companiesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.18 Part 4 Utilitarianismà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.19 Rightsà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.21 Justice à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦.pg.22 Virtue Ethicsà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.24 Part 5 Corporate Social Responsibility, Corporate Social Responsiveness, Corporte Social Performanceà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.pg.25 Conclusionà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.28 Referencesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg.29 Appendix Aà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.pg.32 Appendix Bà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.pg.33 Appendix Cà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦pg 35 Introduction Canadians on average spend 31 billion dollars in the pharmaceutical industry, which makes it very powerful and influential. Our goal is to analyze the industry in a business ethics perspective. To do this we will look at the value chain and development of the pharmaceutical industry in Canada, a PEST analysis of Abbott, the ethical issues linked to the use and overmedication of oxycodone as well as the drug patent system, the social and economic impacts of the production of oxycodone, and addressing the industries record in corporate social performance, responsibility, and responsiveness. Part 1: History Development Have you ever wondered how important pharmaceutical companies are to society? How did the pharmaceutical industry begin in Canada? These question and more will be answered in this segment. The first major pharmaceutical company in Canada started in Toronto in the year 1879 and was founded by Edward B. Shuttleworth (Toronto Region Research Alliance, 2010). Toronto has developed through the years as one of the leaders in this industry in North America. Toronto Region Research Alliance reports that Twenty-five of the top 50 global pharmaceutical companies have Canadian headquarters in the Toronto Region. (Toronto Region Research Alliance, 2010). It is interesting to know that the first foreign-owned pharmaceutical company in Canada started here in Windsor, Walkerville by Parke Davis and Co in 1887 (Lexchin, 2006). This decision by Mr. Davis helped develop Canadas pharmaceutical industry. From 1879 to present the pharmaceutical industry has advanced substantially. Conferring to the Canadian Encyclopedia in the 1940s our pharmaceutical industry was producing a large amount of drugs efficiently (economy to scales) (Lexchin,2006). This was a huge improvement in the industry because now companies were able to focus on mass producing drugs, and able to have a larger profit margin on it. Also conferring to the Canadian Encyclopedia in the 1970s and 1980s, Canada started to produce their own generic drug companies (Lexchin, 2006). In 1921, the University of Toronto developed several drugs that transformed the way diabetes is treated. This drug contains Insulin that has saved an enormous amount of people and helped reduce the suffering for those with diabetes. Patents came a long way in this industry. Patents acts like a copyright not allowing people to copy your idea. Patents life span is currently 17 years. In the past companies that had a patent on their product had a monopoly type of power. After Bill C-22 companies do not have this power on a patent, we will discuss this topic later. Part 1: Value Chain Research and Development In Canada before a drug can be approved for the general public it has to go through several tests and studies. These drugs will be tested on animals and eventually on humans. The researcher goal is try to discover a product the public will use. Once the researcher had thought of a drug that will help people; the researcher and the scientist have to develop the product. They will develop their product by testing it on animals and alter it till they receive desirable results. It takes about eight and a half years to test the drug and get it approve to sell (Health Canada, 2011). Pre-clinical Research In order to reach this step a company needs to submit data that helps them prove their drug is safe for pre-clinical testing. Pre-clinical testing is when a company tests their drugs in a laboratory on animals. They are looking at a variety of factors such as the animal toxics level and pharmacologic affects (Health Canada, 2011). According to Health Canada at this stage sponsors are asked to determine the toxicity of the drug in at least two species of animals, from 2 weeks to 3 months, depending on the proposed duration of use of the substance (Health Canada, 2011). Clinical Trial At this stage the drug is deemed safe to test it on humans. During these trials, a substance is administered to humans and is evaluated for its safety and effectiveness in treating, preventing, or diagnosing a specific disease or condition. The results of this testing is the single most important factor in the approval or disapproval of a new drug (Health Canada, 2011). If the results of the clinical trial turn out to be positive, the drug is ready to hit the markets. A New Drug Submission (NDS) is sent with complete information on the new drug at the end of the clinical testing. If the NDS are positive the company is allowed to sell their drug in Canada (Lexchin, 2006). Manufacture, Marketing and Sales At this final stage the pharmaceutical companies looks for ways to reduce the costs of drug production. Companys need to make sure they have the right paperwork to start manufacturing the product. Also the company needs to make sure they market the product well and honestly. The company also needs to make sure that they are constantly monitoring their products making sure its safe and safely distributed. Part 1: Comprehensive Analysis of the Industry Research costs the Canadian pharmaceutical industry millions of dollars annually. The research cost is high because drug companies are trying to develop treatments for variety of types of diseases and illness. Usually the companys purpose on inventing a new treatment is to gain future revenues. It is currently estimated to cost about eight hundred million dollars to research and market a new drug (Canadian Pharmacists Association, 2012). Canada develops eighty new drugs a year and only ten percent of these new drugs have significant improvements over existing drugs (Lexchin, 2006) Unlike other industries the pharmaceutical industry has a high cost on research and development. The industry spends millions of dollars, inventing new drugs, and develops existing drugs. Companies in this industry spend millions of dollars on marketing and educating people about their product. With high costs and short patent life; is it worth it to companies to spend a significant amount of money on developing their product just to be copied by another company in the future? Thinking that the cost of developing a drug is extremely high the government should help the pharmaceutical industry in this aspect. Instead of helping in 1987 Brain Mulroney introduced Bill C-22. Through the Bill the Patented Medicine Prices Review Board was created. Their job is to watch over and make the price of the patented drugs. At one point this company raised the price of patents that in some situations the company would have no choice and give up their patent. One thing that was not fair for the companies who develop the product was they were forced to licensing their product. Other companies were allowed to produce their product and pay a royalty fee to the founder company. The problem is the royalty fees are very minimal considering how much startup costs the founding company had to go through. A huge issue about Bill C-22 coming into effect is it took away incentive to do research and create new drugs. Companies are worried about producing their product as cheaply and efficiently as possible to increase their profit margin. Patented Medicine Prices Review Board requires 10 percent of a companys revenues. In 2007 only 8.3 percent was spent on research in this industry (Canadian Generic Pharmaceutical Association, N.D.). In Appendix C shows the user where the research money was spent. It interesting to note; the majority of the research money was spent in applied research. Applied Research is used on trying to improve the product and the manufacturing process. The government has another impact on this industry through their policies. The federal government implemented their Food and Drug Act in 1939. This act gave the government some power over this industry. The Federal government decided they needed the companies in the industry to report to Food and Drug Directorate (1959) (Lexchin, 2006). This organization monitors the industry to make sure everyone is following the rules. This Food and Drug Act has been modified throughout the years because of past events. An example is in 1963, 115 kids were born with malformations of the limbs because their mothers took thalidomide (Lexchin, 2006). Standards in this industry after this event and companies must inform their users who cannot take the drug. This act prohibits false advertising, but it cannot control how the doctors actually use the drugs (Lexchin, 2006). Part 2: Pest analysis for Abbott According to the Cambridge Dictionary; pest analysis is (political, economic, social, and technological) assesses a market including competitors, from the standpoint of a particular proposition or a business. A management method that examines the effect that events or influences from outside may have on the performance of a company or organization. (PEST Analysis) Political: Abbott labs and its competitors are all seriously affected by government regulations. For example, they include long term challenges like patent expiration and FDA approval. All these rules and regulations are affected by political factors. Under the Medicare Modernization Act, drug prices are negotiated between private drug plans and private drug manufactures which prohibits government to set up a price structure or even participate in the negotiations. The Congress and white house are trying to lower drug prices, which could decrease revenue for Abbott. If Abbott is forced to lower its drug prices, it would be hit hard as half of the revenue it generates comes from pharmaceuticals. (Abbott laboratories Stock, 2006) The development, sale and distribution of Abbotts products are subjected to a broad set of rules and regulations. These regulatory actions can result in delay of the release of the product or seizure or recall of products. Violations of these rules may be punishable by civil or criminal sanctions. In some cases there are payable fines, imprisonment or even exclusion from participation in health care programs. These regulations are very broad in scope and are subjected to many developing interpretations, which could require Abbott to gain significant costs associated with altering one or more of its marketing or sales practices. Moreover, if these laws are violated, Abbott could disturb its business. This would not only affect Abbotts revenues and profitability but would also result in a negative image of Abbott. (Abbott laboratories filings, 2006) Economics: Abbott produces a drug called Humira. This is used for rheumatoid arthritis patients. This is one of the main revenue generator drugs, which makes up more than half of the pharmaceutical divisions revenue. Niaspan, another drug produced by Abbott, is the only drug available in the market to decrease cardiovascular risk. This drug increases HDL also known as good cholesterol to minimize the risk. Another popular drug produced by Abbot was Depakote. Abbott lost much of its revenue in 2008 because of generic competition, for the first time. Generic competition in Abbotts pharmaceutical division hurt US sales; however this has been partially offset by international growth. (Abbott Laboratories Stock, 2006) Emerging markets represents one of the greatest opportunities in health care. Emerging markets already make up more than 20 percent of Abbotts overall business. Abbott Laboratories Inc will pay $3.7 billion to acquire the branded generics business of Indias Piramal healthcare. Annual payments of $400 million would be made till four years for Piramals healthcare solutions business. Moreover, it will also pay $2.12 billion up-front. According to Abbott, it will have the largest market share in India, at seven percent. According to Mr. White, the chairman and chief executive of Abbott, this deal is one of the several he has taken to reshape the company and grow outside the United States. Abbott predicts the sales in India to be more than $2.5 billion by 2020. Abbott is paying 8.7 times annual sales for the Piamal unit. By contrast, Cipla trades at 4.5 times sales. Abbott is rapidly establishing a leadership position in branded generics and emerging markets (Abbott Laboratories to pay $1.6 billion, 2010) said Wells Fargo analyst Larry Biegelsen in a research note. Social: Abbott is a constantly changing health care industry. So, for a company like this, market share is a primary focus. Market share can be gained by increasing a demand for the medicines or off course by introducing new and improved medicines. Abbotts toughest competition includes generic drugs and this has put a lot of pressure on pharmaceutical industries as a whole. Moreover patent infringement is another challenge. Medtronic Inc. said on Monday it would pay $400 million to Abbott Laboratories Inc. as part of an agreement to settle a legal dispute over heart stent technology. (Kelly, 2009) Abbotts produces drugs such as Humira, Xience V and Niaspan. These drugs are faced by constant competition from many other pharmaceutical companies such as Johnson Johnson (JNJ) and Amegen (AMGN). A competition like this makes it very challenging for Abbott to deal with legal problems Abbot is a company which fulfills its social responsibilities. It operates with many applicable laws and regulations concerning environmental protection. Abbott believes that it has a social and environmental responsibility towards the community where it operates. For example, Abbotts capital expenditure in 2010 was $9 million and operating expenditures in 2010 for pollution control was approximately $65 million. Capital and operating expenditures in 2011 for pollution control were estimated to be $15 million and $67 million respectively. (Abbott Laboratories Filings, 2006) Abbott has been identified as a responsible party in investigations at many locations in the United States of America by Superfund. Abbott believes that costs related to investigations and remediation and costs which help the company to follow the social rules and regulations, have no consequences on Abbotts financial position, results of operation or cash flows. (Abbott Laboratories Filings, 2006) Technological: Producing new products over time is how a firm progresses. This requires technological knowledge, the ability to combine knowledge elements into valuable new products, and the complementary assets that facilitate the manufacturing, sales, and distribution of those products. (Nerkar, 2004) Abbott is the first pharmaceutical company to have a special laboratory for radioactive pharmaceuticals or radiopharmaceuticals. This progress leads to the creation of what will become the worlds leading immunodiagnostics business. (History Abbott) After Abbott introduces Selsun Suspension shampoo for dandruff control, the company establishes an employee contributory stock purchase plan to benefit its employees. Several major products are introduced worldwide, including a test to screen and monitor therapy for prostate cancer, self-test kit for HIV and many more. Part 2: Six Main Stakeholders Interests Abbots customers are a stakeholder and their main interest is the availability of products that are safe and effective. They look for a price that is reasonable and affordable. They need as much information about the disease as possible and the ways to prevent it through drugs and available treatment. They also look for advocacy for patient needs and support for patient organizations. Health care professionals are also the stakeholders and their main concern is quality, safety and efficacy of products and most importantly proper product use. Information and education about the latest tools and technologies is also an interest of this stakeholder. Research and development is another key interest of this group. Interestingly, reasonable and ethical behavior is also an interest to the health care professionals which can be achieved through ethical marketing practices. Government is another stakeholder of Abbot. Affordable pricing and ethical business practices is this groups main concern. Government makes a partnership to help address health care needs. Government and Abbot together make policies that foster access to medicines and vaccines. Moreover, Employees are another stakeholder group and its main interest is to get training and development. They also want to get involved in their communities and most importantly they want to improve and maintain their own health and well-being. Local communities are another important stakeholder group. Their main interest is that Abbot operates in a responsible and safe manner, wherever it operates. Philanthropic commitment to unmet community needs is another concern. Lastly, suppliers are another stakeholder group. Ethics, labor laws and health and safety issues are this stakeholders primary interest. Support for small and diverse suppliers is also a key interest. Abbot is committed to developing safe and effective medicines that save and enhance lives. Abbot aims to make its products at affordable and fair prices and to offer low cost or even free options for customers, when possible. For example Abbot was engaged in discussions with patients group and associations. It was also involved with customer care lines, patient assistance programs and market research. This resulted in gaining important insight as to how Abbot could improve their products and develop new ones. They increased awareness among stakeholder groups of potentials for patient assistance for medicines and of contributions of drugs and other products as part of tragedy relief. Abbott is increasing awareness among the stakeholders and proving a lot of its products as part of disaster relief. Abbot seeks new insight into patient and consumer needs and is committed to leveraging these insights into meaningful products. Moreover, health care professionals play a key role in proper diagnosis treatment and rehabilitation, and work closely to create a greater understanding of disease states and its treatment. Abbott also helps to maintain high standards of integrity in all of its dealings with health care professionals. An example of this is Abbotts educational program for health care professionals. And also the technological exchanges to bolster knowledge of health care professionals. The result of these efforts was improved understandings of emerging challenges on the front lines of health care. Abbott received feedback on the quality, safety and efficacy of existing products and partner with health care professionals conducting vital research. (Abbott Global Citizenship) Government being a key stakeholder wants affordable prices and ethical business practices. So, Abbot aims to make products available at affordable prices. They want to foster well informed health care professionals, progressive policies and enhanced infrastructure, which are very important to health care access. In addition to that, Abbott holds all their employees to the maximum ethical standards. Abbott has worked with the governments to set prices at reasonable levels. They have talked with governments about major health care policy developments. Abbot has participated in numerous U.S. and international trade groups, consistent with the guidelines in Abbotts code of business conduct. (Abbott: Global Citizenship) It has shared learning on needs of various communities. Furthermore, it has given updates on major health care policy developments. Local communities are another important stakeholder. Their key concerns are safe and responsible operations where Abbott operates. Abbott gives full attention to its local communities. They have fully engaged in the communities where they operate, and they treaty their local societies with admiration. Abbott engages in thoughtful and effective philanthropy. (Abbott Global Citizenship) Moreover, Abbott employs local people and pays taxes to the local governments. They support educational efforts, cultural and civic programs and community health care organizations. An example can be seen when Abbott in 2011, paid 1.8 billion in income taxes. Abbott maintains strong relationships with the communities where they operate. Part 3: The Production and Use of Oxycodone At the end of February 2012 Purdue Pharma Canada, the company behind oxycontin, stopped production of their popular narcotic and moved to a new painkiller opiate in the oxycodone family called Oxyneo. Oxyneo is an amazing step up from oxycontin because it is made in a way so that it cannot be dissolved in water to be injected (it turns into a gel if you try), and it is very difficult to ground up and snort. These changes do not affected people taking the drug properly for medical uses but thats only four out of every12,000 addicts. These people taking oxycontin for the highs have moved on to harder drugs to fill the hole oxycontin left. A recent statistic from Alex Crees of Fox news states the percentage of people who reported using Oxycontin to get high in the past 30 days at least once fell from 47.4 percent to 30 percent. During the same time period, the percentage of people who reported using heroin nearly doubled. (Crees) This raises a lot of ethical questions one of which has t o do with utilitarianism, how can this move possible benefit the most people when the majority is the one being moved onto harder drugs? This of course raises questions of its own such as if it was so dangerous why was it introduced in the first place, and to that I can simply say no other medication can do what it can do. For a lot of people dealing with chronic acute pain there are very few options available and oxycodone is an attractive alternative to the also opiate based morphine which causes nausea and is half as strong as oxycodone. In the end of the day for the sake of utilitarianism I would say they probably did the right thing by changing the formula but it is all based on perspectives. Another ethical issue that has to do with the lack of corporate social responsibility of Purdue, one moral argument for CSR is that Corporations cause social problems, and hence have a responsibility to solve those they have caused and to prevent further social problems from arising. (Cran e p. 51) with this statement we can see that Purdue caused a problem and did not really take responsibility for that problem or overly try to prevent it as well. It was the government that forced the cancelation of distribution of oxycontin, not the good will of the corporation, and it was also government regulation demanding the new formula. Purdue should have set up public centers to help deal with the people who were using their product and are now dealing with withdrawals. They had ethical responsibility they did not live up to. Part 3: Drug Patents In the realm of medical or drug patenting there is also a slew of ethical problems that must be dealt with. In our modern patenting system it is too easy for procedures or medications to be unavailable to those who need them because of issues with patents. A lot of procedures require the doctor or physician have bought the right to use the procedures and only in a certain way. These are often sold only in smaller quantities for higher prices limiting the amount of good they can do. The ethical problem arises when a person comes in for treatment and a patented procedure becomes unavailable to patients who require it, and in worst-case scenarios where no other alternative exists. In a case like this utilitarianism must be questioned as to why they can justify hurting so many people so a few at the top can make a lot more money. Distributive justice is also an ethical issue that relates to this. Some people will argue that due to distributive justice patents are ethical because the fram ework of distributive justice rewards the inventor and people cant coast on his success. However if we look at it by its definition distributive justice is concerns the nature of a  socially just  allocation of  goods  in a society. (Distributive justice Wikipedia) We can see that by having these patents that limit the availability of processes and medications people need were are heading in the opposite way of distributive justice, fewer people are getting benefit of a product. In this way I really believe that the patent system especially pertaining to drugs has a very pre conventional thought process of what can help me Ill do. They have all this knowledge that could help millions but because there is no immediate monetary benefit for the corporations to open up the patents to everyone in need it wont happen and many innocent people could get sick, get worse, or even die. Part 3: The Approval Process For New Drugs To understand the ethical issues in improvement process for new drugs you must first understand how the process plays out. There are 4 main steps to the process of getting a pill tested and okayed for sales, the first step is to test on animals, then the next is to perform clinical testing on humans, next up is a review by the food and drug administration, and the last step is post marketing surveillance. In this last step the pill has been granted limited application by the FDA and is applied to thousands of people for testing. At this stage it is not determined if the pill is either safe or efficacious. (Kuncl Logue, 2005). Patents last 17 years and this four-step process takes about 11 years so you can understand the urgency of their actions. The unethical behavior comes in on the fourth step where it is in the hands of marketing surveillance because the importance they determine for the drug is the chances of it actually coming to store shelves. You see a new pill would cost abo ut $800 million dollars not counting the 15-year research period so they are very valuable and only explored if the chances are high for payback. Ten to fifteen percent of all gross profits from a pharmaceutical company go back into research. Because of these high costs of business a lot of pills that could help a lot of people but not enough to turn a profit are often declined or have their funding stopped which can leave innocent people without a cure. The ethical problem here is the industry doesnt practice stakeholder theory at all, they are acting to just appease the shareholders but not the other stakeholders like the consumers that could have their lives saved, the employees whos families could have needed those medicines, the government that may have rewarded you for coming up with a cheaper more efficient drug and the list of stakeholders goes on. Part 3: The Potential Over-Medication of Societies and the Role of Pharmaceutical Companies Seven million people say they use prescription drugs for non-medial reasons and 39% of drug user use prescriptions over street drugs like cocaine and heroin so why are we seeing this trend? I believe it is due to aggressive marketing by pharmaceutical industries, for reasons previously discussed there is a lot of money spent in the industry just to get new drugs approved, and thats reasonable that they want to market it and spread the word to make back their loss. However the way they go about doing it is unethical and wrong, you see when these new drugs are released they are often released under a wider umbrella of uses than first clinically intended. The unfortunate reality is that for most new drugs, safety and efficacy are scientifically proven for only a small subset of patient