Promoting good nutrition in patient with dementia Research Paper

Promoting good nutrition in patient with dementia - Research Paper Example Based on the causes of dementia, Alzheimer’s disease is the major cause, but secondary causes also have a role to play. This includes secondary brain conditions and injury to the brain substance secondary to trauma. Alzheimer’s disease is a degenerative brain condition affecting memory and cognitive brain functions, and is the commonest form of dementia in people over the age of 65. Vascular dementia results from cerebrovascular or cardiovascular problems which often result in strokes. Minor but important causes of dementia include HIV diseases, Huntington’s disease and Creutzfeldt-Jakob disease. Dementia is a condition whose principal prevalence is in old people over 65 years, but children and middle aged adults may suffer from dementia. Trauma, brain tumours, heart conditions, lung conditions, poisoning and some terminal infections may lead to dementia in this group. Some inherited disorders like glycogen storage diseases and mitochondrial abnormalities are specific for children, causing dementia. Whatever age group affected, dementia is a serious condition that leads to progressive memory loss and degenerative cognitive functions. Treatment will never reverse or stop the condition, but instead the treatment reduces the symptoms, thereby slowing down the disease progression. Apart from symptom alleviation, adequate rest, nutrition and hydration are very important as they reduce morbidity and mortality. In terminal dementia, the patients are unable to cater for themselves completely which calls for the input of the caregiver in providing optimal nutrition and in the correct proportion. In dementia, there is degenerative brain loss due to loss of neurons. Dementia is associated with malnutrition due to the feeding difficulties in people who suffer from the condition. Impaired cognitive functions lead to a deficit in the short-term memory making the patient forget simple tasks like feeding. The patient may also become easily distracted, thereby

Organic Chemistry (Methamphetamine) Essay Example for Free

Organic Chemistry (Methamphetamine) Essay Methamphetamine was first synthesized from ephedrine in Japan in 1893 by chemist Nagai Nagayoshi. In 1919, crystallized methamphetamine was synthesized by Akira Ogata via reduction of ephedrine using red phosphorus and iodine. Synthesis is relatively simple, but entails risk with flammable and corrosive chemicals, particularly the solvents used in extraction and purification; therefore, illicit production is often discovered by fires and explosions caused by the improper handling of volatile or flammable solvents. Most of the necessary chemicals are readily available in household products or over-the-counter cold or allergy medicines. When illicitly produced, methamphetamine is commonly made by the reduction of ephedrine or pseudoephedrine. The maximum conversion rate for ephedrine and pseudoephedrine is 92%, although typically, illicit methamphetamine laboratories convert at a rate of 50% to 75%. Methamphetamine has been reported to occur naturally in Acacia berlandieri, and possibly Acacia rigidula, trees that grow in West Texas. Methamphetamine and regular amphetamine were long thought to be strictly human-synthesized, but Acacia trees contain these and numerous other psychoactive compounds (e.g., mescaline, nicotine, dimethyltryptamine), and the related compound ÃŽ ²-phenethylamine is known to occur from numerous Acacia species. Diagrams Health Concerns Physical effects can include anorexia, hyperactivity, dilated pupils, flushing, restlessness, dry mouth, headache, tachycardia, bradycardia, tachypnea, hypertension, hypotension, hyperthermia, diaphoresis, diarrhea, constipation, blurred vision, dizziness, twitching, insomnia, numbness, palpitations, arrhythmias, tremors, dry and/or itchy skin, acne, pallor, and with chronic and/or high doses, convulsions, heart attack, stroke, and death can occur. Psychological effects can include euphoria, anxiety, increased libido, alertness, concentration, energy, self-esteem, self-confidence, sociability, irritability, aggression, psychosomatic disorders, psychomotor agitation, grandiosity, hallucinations, excessive feelings of power and invincibility, repetitive and obsessive behaviors, paranoia, and with chronic and/or high doses, amphetamine psychosis can occur. Methamphetamine use has a high association with depression and suicide as well as serious heart disease, amphetamine psychosis, anxiety and violent behaviours. Methamphetamine also has a very high addiction risk. Methamphetamine also is neurotoxic and is associated with an increased risk of parkinsons disease. Methamphetamine abuse can cause neurotoxicity which is believed to be responsible for causing persisting cognitive deficits, such as memory, impaired attention and executive function. Over 20 percent of people addicted to methamphetamine develop a long-lasting psychosis resembling schizophrenia after stopping methamphetamine which persists for longer than 6 months and is often treatment resistant. Meth labs can also be fatal seeing as they often blow up. This is usually due to amateur chemists operating them. They can also give off deadly fumes. Where It Is Commonly Found Methamphetamine is FDA approved for use in children and adults under the trademark name Desoxyn. A generic version became available in April, 2010. It is prescribed as a treatment for ADHD and exogenous obesity, as well as off-label for the treatment of narcolepsy and treatment-resistant depression. Physical Properties Formula C10H15N Mol. Mass 149.233g/mol Half-Life 9-12 hours Metabolism hepatic IUPAC Name N-methyl-1-phenylpropan-2-amine Structure Related To Function The structure of this molecule is very much related it’s function. It closely mimics another molecule which stimulates the brain. This molecule fits the receptor site and therefore acts as a stimulant. Functional Groups Methyl Amino Aromatic (Phenyl)

John Bergers Another Way of Telling Essay example -- essays research

In John Berger’s essay â€Å"Another Way of Telling,† Berger argues that photographs contain a â€Å"third meaning.† Berger claims that the third meaning is personal and relies almost completely on the individual viewer. As a result, no photograph can convey the same message to any two people and no two photographs can convey the same message to any one person. Here, the validity of Berger’s assumption crumbles. All photographs communicate one absolute truth.   Ã‚  Ã‚  Ã‚  Ã‚  Berger states, â€Å"All subjectivity is treated as private† (100). Yet, claiming that anything subjective within a photograph, its past and future, is personal only supports an absolute truth. The truth, however, is beyond the viewer’s conscious interpretation and the photograph becomes ambiguous. Berger becomes mislead when he compares an individual’s opinion of the past or future of a photograph to the actual truth of the photograph, thus surfaces â€Å"ambiguity.† Even Berger agrees that ambiguity is the result of the viewer’s personal experiences and psychology, but he ignores what the viewer cannot see. When discussing the ambiguity of the photograph of the horse and man, page 85, Berger can only guess as to why the photograph was taken and to what the meaning is. Berger describes this process as, â€Å" . . . a game of inventing meanings† (86). Here, Berger admits to creating meanings, based on his life experiences and his personal psychology. Obviously, if one places his or her own, fictitious meanings unt...

A Deconstructionist Critique of Chopin’s The Awakening Essay -- Chopin

A Deconstructionist Critique of Chopin’s The Awakening The multiplicity of meanings and (re)interpretations informing critical studies of The Awakening reveal a novel ripe for deconstructionist critique. Just as Chopin evokes an image of the sea as symbolic of Edna’s shifting consciousness (â€Å"never ceasing, whispering, clamoring, murmuring, inviting the soul to wander in abysses of solitude,†138), likewise the deconstructionist reading of a text emphasizes fluidity over structure: â€Å"A text consists of words inscribed in and inextricable from the myriad discourses that inform it; from the point of view of deconstruction, the boundaries between any given text and that larger text we call language are always shifting,† (297). From this perspective, the reader/critic opens the doors of interpretation instead of narrowing their focus to any singular, exclusionary reading, and exposes the deconstruction at work within the text itself. Whether defined as feminist martyr, metaphorical lesbian, the triumphant image of social transcendence or a broken bird â€Å"beating the air above . . . circlin...

Victoria Secret in Turkey

The Middle East consists of several countries in West Asia. Armenia, Azerbaijan, Bahrain, Gaza Strip, Georgia, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, Turkey, United Arab Emirates, West Bank, and Gaza, are all the 19 countries that are categorized as the Middle East. The term Middle East is considered to be a Eurocentric term and is used as a synonym for the Near East. Since the Middle East extends over so many countries, there are major economic, cultural, and religious differences.Some of the countries in the Middle East are extremely wealthy oil nations like Saudi Arabia, Qatar, and United Arab Emirates, that generate large amount of revenue and are on the top list of the world’s wealthiest nations based on income per capita. And then there are some really poor nations, like Gaza and Yemen, which are characterized by unrest and war. The Middle East also varies a lot when it comes to culture and religion. Islam is the biggest religion i n the Middle East and many of the countries have really strict religious rules, with little freedom for women.But there are also countries where Judaism and Christianity are represented, and women have equal or almost equal rights as men. Victoria’s Secret was founded in 1977, in San Francisco by Roy Raymond. It started with three stores and a mail-order catalog. In 1982, after only five years of operations, Raymond sold the company to Leslie Wexner for $4 million. During the 80’s Victoria’s Secret rapidly expanded into U. S malls. By the early 90’s Victoria’s Secret had become the largest American lingerie retailer, topping one billion dollars.There are approximately 1,000 Victoria’s secret lingerie stores and 100 independent Victoria’s Secret Beauty stores in the U. S. We sell a range of brassieres, panties, hosiery, cosmetics, sleepwear, and other products. In 1995 Victoria’s Secret had their first fashion show, which today has become a huge hit. The show features some of the world's leading fashion models such as current Victoria's Secret Angels Adriana Lima, Alessandra Ambrosio, and Miranda Kerr. Because of the huge differences in economy, culture, and religion, we at Victoria’s Secret decided to focus on one country at a time.We decided that it would be the best opportunity to open our store in Turkey. Turkey has the largest economy in the Middle East based on nominal gross domestic product (GDP) and the cultural and religious barriers are not as dominant as in some of the other Middle Eastern countries. Turkey also has a huge market for tourism. Market Turkey has a large population with 71 million people. They have generally a young population, with 61% of the people being younger than the age of 35. Turkey’s average gross national product (GNP) per capita is $7,500.About 71% of the population lives in the urban areas. Istanbul is Turkey’s largest city with about 12 million peo ple, and Ankara, the capital, has about 5 million people. Turkey is located in Southeastern Europe and Southwestern Asia, bordering the Black Sea and the Aegean Sea. Turkey’s location gives them an excellent base for economic activities throughout the region. Turkey has a budget revenue of $176. 8 billion and a budget expenditure of $189. 2 billion. Turkey is running a budget deficit of 1. 6% of real GDP.This budget deficit, together with uncertainty related to the monetary policy-making, and political disorder in Turkey’s neighbor countries, makes the Turkish economy vulnerable to destabilization shifts in investors’ confidence. Turkey has a young and well-educated population, but 10. 3% of the Turkish population is unemployed. The labor force is 27. 43 millions, where 25. 5% works within the agricultural sector, 26. 2% works in industries, and 48. 4% works within the service sector. Young people between the age of 15 and 24, 25% are unemployed. Women are still an untapped labor force in Turkey.Researchers say that about half of all Turkish women enter the labor market at some point in their lives, but most end up quitting because of family obligations or poor working conditions. We feel that this is a great opportunity for our company, because our target market is women. We will strive to create ideal working conditions for all of our employees so they feel that they want to keep working for Victoria’s Secret. Economic and Political Climate We at Victoria’s Secret have been attracted to the Turkish market by the country’s rapidly expanding economy, political and economic stability, and the possibility of European Union membership.Since Turkey is an associated member of the EU, it had to adopt many directives, regulations, and laws that are required by the EU. Turkey is going through changes, to strengthen its democracy and integrate its economy into the global market. The changes that Turkey is going through are goin g to be beneficial to us, because it will make Turkey an easier market to enter and to do business in. It is also crucial for us that Turkey’s government are become a more stable government. It would be hard for Victoria’s Secret to thrive when the government is unstable and there are rapid and drastic policy changes.For a business to survive in a foreign country, it is crucial that there is a government that can maintain itself in power and whose fiscal, monetary, and political policy are predictable. Turkey has an open market economy, with a blend of both modern and traditional industries. Turkey’s industry and service sector are becoming the major drivers of the Turkish economy. Their private sector is becoming increasingly important, as state involvement is reducing. The traditional textiles and clothing sectors, still account for one-third of industrial employment in Turkey.During 2011, the United Sates exported to Turkey for $15 billion, this is 34% increa se from 2010. Foreign direct investment (FDI) has in the recent years been attracted to Turkey because of their market reforms, strong growth and economic and political stability. The U. S. has officially invested about $6-7 billion in Turkey, a number that is understated because U. S. companies have invested through third countries. There are no restrictions over the export of goods from Turkey. Exports are exempt from the value added tax (VAT), duties and transaction taxes. Goods manufactured in Turkey have a duty free access to the EU.There are also no import restrictions over goods imported to Turkey, with the exclusion of some restraints of very minor character. For imports that are imported to Turkey from countries other than European Union, customs duties and charges are applicable in agreement with the requirements of the customs union. Regardless of origin of goods, whether from the EU or a non-EU country, VAT is at a rate 18% (1% or 8% for certain basic goods). Good and se rvices imported into the country, industrial, commercial, agricultural goods and services, and deliveries of goods and services caused by other activities, are all subject to VAT.The guidelines involving to the remittance of foreign capital and dividends out of the country are set out in Law No. 1567. According to these regulations, foreign investors have the same privileges and responsibilities as Turkish investors. The regulations also guarantee the transfer of profits, fees, and royalties and the repatriation of capital in the case of a liquidation or sale. For foreign businesses to enter into Turkey there is no longer a minimum amount of capital requirement, due to Turkey’s new Foreign Direct Investment Law. â€Å"It is no longer obligatory to bring a minimum of $50,000 in share capital. As long as the form of company is included in the Turkish Commercial Code, it is your own choice on what company you want to establish. â€Å"It is no longer obligatory to establish eit her a limited liability company or joint stock company. † In 2006, Turkey cut its corporate income tax rate from 30% to 20% making it one of the most competitive rates in the OECD. These corporate income tax rates, has mad Turkey an attractive business environment that presents advantages and potential opportunities for business wishing to enter the market. Culture and InfluencesCulture is defined as â€Å"the sum of the total of the beliefs, rules, techniques, institutions, and artifacts that characterize human populations. † Societies are composed of its people and their culture; it is therefore difficult to talk about one aspect without referring to the other. Sociocultural has become the term that is used among businesspeople when talking about cultures and societies. For Victoria’s Secret to be successful in opening a store in Turkey it is crucial for us to realize that there are a culture differences from that of our own, as well as learning the characteris tics of the culture so that we can adapt to them.Since culture is so broad, a listing of its components may ease the analysis of the sociocultural viewpoint. These components include: aesthetics, attitudes and beliefs, religion, material culture, language, societal organization, education, legal characteristics, and political structures. The component that apply for Victoria’s Secret launch in Turkey is in particular religion, but aesthetics, and societal organization can also have an impact.Religion is an important component of culture and holds responsibility for many attitudes and beliefs the people have. In Turkey, the people practices the religion Islam and the population consist of 99. 8% Muslims, mostly Sunni. The Muslims follows the Koran, which is the collection of Allah’s revelations to Muhammad, and is said to be the messenger of God. Following the Koran means freedom, and it is said to bring happiness for the Muslim to follow Gods word. For all Muslims the basic spiritual duties consist of the ive pillars of faith: accepting the confession of faith; making the five daily prayers while facing Mecca; giving charity; fasting during the daylight hours of Ramadan, a 29- or 30-day month in Islam’s lunar calendar; making a pilgrimage to Mecca at least once in a person’s lifetime. The Turkish state is becoming more and more modernized, and so is also its religion. Turkey seeks to modernize Islam because they believe that it might hinder their development in becoming a more globalized and modern country. We believe that Turkey is a good place to open our next store in the Middle East because they are open for this kind of new businesses.Aesthetics refers to a culture’s sense of beauty and good taste. As the Turkish people are getting more modernized, they will also get more influenced by the rest of the world. We believe that the fashion trends that are popular in the U. S. will become popular in Turkey as well, and that V ictoria’s Secret lingerie can become part of the Turkish women’s daily life. Societal organization â€Å"is the patterned arrangement of relationships defining and regulation the manner by which its members interface with one another. The women in Turkey don’t have the same status as women in the U. S. , and the men and women’s roles may vary a lot. This might cause a problem when launching Victoria’s Secret in Turkey, nevertheless, we believe that the Turkish women, as they get more influence by the fashion trends in rest of the world, they will create a desire to buy our products. Victoria’s Secret is facing some sociocultural challenges when launching our business in Turkey, and we will have to give our customers some time to adapt to our products.However, when considering Turkey is development toward a more modern and global nation we have a bright outlook for the future, and believe those challenges will be exciting to tackle. Competit ion â€Å"International strategy is concerned with the way firms make fundamental choices about developing scare resources internationally. † It is going to be crucial for Victoria’s Secret to implement an international strategy because it involves decisions that deal with what products or services to offer, which markets to enter, and how to compete.It also deals with all the various functions in the organization, such as marketing and production. The goal with an international strategy is to create competitive advantage, which means that the business has achieved and maintained a unique and valuable position both globally and within a nation. To create sustainable competitive advantage it is important that a product or service creates value for consumers and for which customers are willing to pay for, are rare, are difficult to imitate or substitute, and are organized in a way that allows the company to fully exploit and capture the value of the product or service.Th ere are numerous lingerie companies in Turkey that can act as competitors when launching Victoria’s Secret in the country. The Turkish economy is growing and the local companies are developing great skills when it comes to adapt to customers demand, which results in companies that are becoming stronger when competing in the global market. However, the main reason why Victoria’s Secret has become so successful is because we have been able to create products and services that meet the criteria for a sustainable competitive advantage. Therefore we believe that we will be able to successfully compete against the Turkish lingerie companies.Turkish is the predominant language in Turkey, spoken by 90% of the population. Minority languages include Kurdish, which is spoken by 6% of the population, although this isn't recognized as an official language. 1. 2% of the Turkish population speaks Arabic but most of those speakers are bilingual and speak Turkish as well. Because we wi ll compete at a local level we believe that it will be important to communicate in Turkish. We will make sure that we have employees that are fluent in Turkish to be a part of our marketing and business team in order to establish a local presence with our products.Because verbal communication is more dominant than written expression in business in Turkey we will focus much of our advertising through media such as radio and TV. Since most of population is Muslim we have to take this into consideration when creating our advertising campaigns. Something that could be a challenge for us is the variable prices many stores and competitors have. This cultural difference where everything is negotiable have to be considered when entering Turkey. A wide range of shops has no prices listed. Customers simply have to ask the price of everything and the sales person will have the right answer.Even luxury shops selling diamond jewelry are open to negotiation. We have chosen not to adjust to this c ultural difference. It does not go well with our business model and we believe that customers will be able to adjust to Victoria’s Secret stricter price listings. But, it is still something to be aware of when training our employees that will be working in our stores. Special offers and other sales or marketing tricks are common in the Turkish business environment. The â€Å"buy one, get one free† offer can be seen in most retail stores in Turkey. This is something that we will use and take advantage of.We will use the same strategies as we have in the US. Making special offers for customers if they buy more than one of selected items. Seasonal offers will also be implemented. Victoria’s Secret in the Middle East We want to make Victory Secret the most known lingerie brand in the world. By expanding with a third store in the Middle East, and more specific in Turkey, we are certain that we will be able to reach this goal. Works Cited https://www. cia. gov/library /publications/the-world-factbook/geos/tu. html http://blog-en. icanlocalize. com/2008/09/marketing-challenges-turkey/ http://www. communicaid. om/access/pdf/library/culture/doing-business-in/Doing%20Business%20in%20Turkey. pdf http://export. gov/turkey/doingbusinessinturkey/index. asp http://www. isik-ymm. com. tr/doingbusinessinturkey. pdf http://blog-en. icanlocalize. com/2008/09/marketing-challenges-turkey/ http://www. drpatrickcarter. com/blog/2010/09/marketing-in-turkey/ http://www. bbc. co. uk/languages/european_languages/countries/turkey. shtml https://www. cia. gov/library/publications/the-world-factbook/geos/tu. html http://www. nytimes. com/2011/05/05/world/middleeast/05iht-M05-WORK-WOMEN. html https://www. cia. gov/library/publications/the-world-factbook/geos/tu. html

The S.E.C. and the Freedom of Information Act

The S.E.C. and the Freedom of Information Act Abstract This report highlights three different business statutes that currently function in the business communications environment of the United States: the Electronic Communications Privacy Act, the Health Insurance Portability and Accountability Act (HIPPA), and the Freedom of Information Act. This report analyzes the impact of a recent interpretation of a provision of the Freedom of Information Act by the Securities and Exchange Commission that governs public disclosure.Advertising We will write a custom report sample on The S.E.C. and the Freedom of Information Act specifically for you for only $16.05 $11/page Learn More The S.E.C. and the Freedom of Information Act This report highlights three different business statutes that currently function in the business communications environment of the United States: the Electronic Communications Privacy Act, the Health Insurance Portability and Accountability Act (HIPPA), and the Freedom of Information Act. A recent case concerning the application of the Freedom of Information Act and public disclosure in the activities of the Securities and Exchange Commission warrants closer analysis. This report will analyze the impact that the Freedom of Information Act has upon the financial regulator and what impact recently passed financial reform legislation will have on the public. The Electronic Communications Privacy Act (ECPA) protects electronic communications in the business environment such as emails, text messages and wireless device transmissions, and ensures that these messages cannot be captured or screened without the express consent of the parties in question (Hunsinger 2010). However, some caveats apply in the business context. If there exists a need to protect business property, or a â€Å"valid business purpose† necessitating the acquisition of employee emails, an employer may do so under this act with the permission of the employee in question (Hunsinger 2010). Most compa nies achieve this end through via a blanket company policy which all employees sign (Hunsinger 2010). As a general rule, employees cannot expect the same â€Å"reasonable expectation of privacy† on a server owned by their employee as they can on the server that operates their personal email (Hunsinger 2010). The Health Insurance Portability and Accountability Act (HIPAA) covers employee privacy in the realm of health information (Sullivan 2004). This act regulates, oversees and protects the security of electronic health data such as medical records and establishes national standards which employers abide by for employee health insurance plans (Sullivan 2004).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The act’s main purpose and challenge remains to balance the needs of employers to provide economically viable health insurance coverage for their employees agains t the needs of employees, namely, so that employee health information remains secure and cannot be used against them in a discriminatory manner (Sullivan 2004). The Freedom of Information Act became law in 1966 and protects the right of the citizens of the United States to â€Å"request access to federal agency records or information† (Henry 2003). The act was meant to balance the needs of the government to maintain some level of secrecy and privacy in its information gathering and storage against the rights of the American public to request and receive accountability from its leaders. Each agency of the United States government must comply with written disclosure requests except in cases where the information requested is protected by exemption or exclusion (Henry 2003). The Freedom of Information Act applies only to federal bodies; each state retains its own statute that manages public requests for state and local government information (Henry 2003). The remainder of this r eport studies two newspaper articles that reported a new financial regulation provision that came into law in 2010. Under this law, according to Sorkin (2010), the federal financial regulatory body the Securities and Exchange Commission (SEC) gained an exemption from public disclosure of requests for information filed under the Freedom of Information Act (Sorkin 2010). The details of the exemptions include â€Å"surveillance, risk assessments, or other regulatory and oversight activities† (Sorkin 2010). John Nester, a spokesperson for the SEC, explained that â€Å"the new provision applies to information obtained through examinations or derived from that information (Prial 2010). Nester intimated that the SEC’s expansion of its existing modes of surveillance and risk assessment efforts† have been undertaken to affect â€Å"more sophisticated and effective Wall Street oversight† (Prial 2010). In order to achieve this, the SEC argues, it requires the  "ability to obtain documents and other information from brokers, investment advisers and other registrants,† therefore this new provision gives the SEC more access during their examinations and ensures that brokers and financial investment advisers and other registrants can no longer refuse to comply with any SEC requests for documents under previous confidentiality expectations (Prial 2010). The impact of this new provision, critics argue, will essentially result in a complete block to all transparency efforts on behalf of the American public in the already shadowy world of high finance (Prial 2010). Since the SEC is a regulatory body, the so-called â€Å"surveillance, risk assessments, or other regulatory and oversight activities† will render nearly every document by the SEC unobtainable (Sorkin 2010). Federal agencies and members of Congress may continue to request information from the SEC however the public has been officially shut out (Prial 2010).Advertising We will write a custom report sample on The S.E.C. and the Freedom of Information Act specifically for you for only $16.05 $11/page Learn More In the business context, this new provision has significant ramifications for transparency goals in the wake of the recession, not to mention the continued efforts of the media to maintain public accountability in the financial world. The recent Bernie Madoff Ponzi scheme provides the most salient example of how this provision may provide an obstacle for corporate governance and communication transparency objectives on behalf of both business and the public (Prial 2010). News media outlets such as FOX Business Network regularly employ the Freedom of Information Act to affect oversight of the SEC itself on behalf of the American public and investors (Prial 2010). FOX Business Network took legal action against the SEC in the spring of 2009 on account of the federal body’s refusal to hand over documents pertaining to the failed SEC investigations into â€Å"alleged investment frauds being perpetrated by Madoff and R. Allen Stanford† (Prial 2010). Upon the arrest of Madoff and Stanford, it came to light through documents acquired under the Freedom of Information Act, that the SEC had carried out â€Å"investigations into both men prior to their arrests but failed to uncover their alleged frauds† (Prial 2010). Similarly, the Freedom of Information Act was employed on behalf of the public following the AIG bailout in 2009 (Prial 2010). With this new provision, critics argue that the SEC will not only wield carte blanche but their mistakes will escape notice, which may lead to more catastrophic frauds such as the Madoff scandal (Prial 2010). According to Prial (2010) should the interpretation of this new provision stand up in court, critics predict that â€Å"the next time there is a Bernie Madoff failure the American public will not be able to obtain the SEC documents that describe t he failure† (Prial 2010). Observers anticipate that members of the media and media networks will likely launch a legal challenge countering the SEC’s interpretation and demanding that the provision be rescinded in light of possible abuse by the SEC (Prial 2010). According to Prial (2010) â€Å"the backroom deal†¦was cut between Congress and the SEC to keep the SEC’s failures secret. The only losers here are the American public† (Prial 2010). Reference List Henry, C.L. (2003). Freedom of information act. New York: Nova Publishers. Hunsinger, J. et al. (2010) International handbook of internet research. New York: Springer Publishing.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Prial, D. (2010, July 28). SEC says new financial regulation law exempts it from public disclosure. FOX Business News. Retrieved from https://www.foxbusiness.com/ Sorkin, A.R. (2010, July 28). S.E.C. said to see new limits on its disclosures. The New York Times. Retrieved from https://www.nytimes.com/section/business/dealbook Sullivan, J.M. (2004). HIPAA: a practical guide to the privacy and security of health data. Chicago: American Bar Association.

SM REPORT Essay Example

SM REPORT Essay Example SM REPORT Essay SM REPORT Essay Furthermore, this permitted ISM to assess the types of opportunities and threats that might arise from the industry environment. This report will also examine both threats of new entries and substitutes, and both bargaining powers of buyers and suppliers that will affect the decision making process of ISM. With the addition of competitive rivalry, this report will demonstrate how ISM can use innovation and various business strategies to stay ahead in the industry. The findings of this report will highlight the financial profitability and stability of ISM. It will analyses how training and development will help improve the skills and motivation of Isms employees. It will also depict how research and development would allow ISM to innovate and improve on its manufacturing processes. This report will also indicate how the positive brand image, along with other business strategies influence the decision making recess of ISM, allowing it to remain competitive and achieve sustainability in its growth within the industry. 2. Background Information ISM International Limited is the global leader in branded healthy lifestyle products. Listed in the Singapore Stock Exchange, ISM has over 30 years of experience and uncompromising dedication in developing innovative and reliable healthy lifestyle products (ISM AAA). Established in 1 980, ISM is a niche marketing company with a focus on the consumer. The Group is innovation-driven and is an Intellectual Property (IP) developer. ISM uses innovative selling approaches and constantly enhances its innovation capabilities to produce successful products with superior designs, features and quality. As an IP developer, ISM controls its brands, designs, technologies and concepts. ISM operates a wide point-of-sales network of more than 1 1 93 outlets in more than 369 cities across 31 countries in Asia, Oceania, Africa, the Middle East, Europe and North America (ISM 2012). The ISM business consists of 4 focuses which together reflect the brands holistic approach to healthy lifestyle. 3. Macro-environment Analysis Macro-environmental analysis is the initial stage in comprehensive strategic planning. The purpose of the analysis involves the study of current and potential change and the assessment of the impact of changes on the organization (Ginger and Duncan 1990). . Optical Singapore government offers loans, grants, tax incentives and Nan-financial assistance to help organizations grow their business. SPRING Singapore provides funding such as the Customer-Centric Initiative to support projects undertaken by organizations in the healthcare sector to improve customer experience and benchmark themselves against industry standards. ISM has achieved significantly la rge amount of government development grant as shown in Figure 1 (refer to Appendix 9. 1). 3. Economics The global macroeconomic conditions have stabilized in recent months against the backdrop of improved financial market conditions, and the outlook for Singapore economy remains positive. According to Singapore Department of Statistics (2013), Singapore has grown by 1. 3 per cent in 201 2 and real GAP growth in 2013 is expected to be 1 to 3 per cent. With the global economy continuing to show affirmative signs of improvements, we hence see potential in the group to rake up more sales going forward, given its huge outwork of outlets. 3. Social As Singapore continues to grow and develop, maintaining the quality of life has become increasingly important. Healthcare products are no longer deemed as a luxury good but a necessity, as society trends towards a more sophisticated and healthy lifestyle. With higher population densities and rising expectations of individuals well-beings, the l ifestyle needs of a more diverse society will be a key challenge as well as an opportunity for ISM. With an increasing ageing population in many societies, ISM can consider how they can better cater to the lifestyle needs of this particular group. 3. Technological The new competitive landscape, driven by the technological revolution is moving towards an increasing focus on innovation, both in technology and new products or services. Being the global leader in healthy lifestyle products, ISM is in the forefront of innovation and the development of a wide range of products to bring the greatest health benefits to consumers. In order to stay competitive, companies are required to use the latest technology in product innovation, continue to develop new technology, actively participate in global markets, and structure themselves to gain advantage in these markets (Hit, Keats and Demark 1998). Furthermore, new technology is allowing firms to customize products to consumers more quickly and economically in terms of production output and cost reduction activities. 3. Relating Key drivers for change with Opportunities and Threats A PASTEL analysis of the macro-environment enables organizations to anticipate opportunities, reveal threats, and carefully develop responses to change (Johnson, Whetting and Schools 201 1). It is important to analyses how the factors in the framework are changing and how they are inter-connected. The technology developments in ISM may affect the social factor such as nonusers lifestyle by introducing more leisure. For a Health and Lifestyle industry, the two most important key drivers for change are social and technological changes. Societal change such as emphasis on overall well- being for longer life expectancy may drive the potential for producing a more comprehensive range of healthy lifestyle products. Similarly, major technological advancements may have a positive impact on Isms research and development (R) activities. An example is ISM massage chairs which are designed in combination with the convenience of the mobile app technology, the ISM divine app (ISM Bibb). On the contrary, a social change in consumers preference for more outdoor leisure activities may pose a threat to Isms future home healthy lifestyle products. Similarly, the global economic conditions may pose a threat to Isms business. The nature of ISM products make them more susceptible to reduced demand in times of economic downturn than other kinds of business as their products may not be considered as essential health products (ISM 2011). . Porters Five-Forces Porters five forces model helps managers recognize and analyses competitive forces within the industry, predict new prospects and challenges and prepare bible strategies against future challenges and threats (Hills and Jones 2008). 4. 1 Threat of new entry In the healthy lifestyle products industry, scale and experience, technology and high capital investment pose as high bar riers of entry. Established industry players enjoy optimal levels of economies of scale whereby there is large-scale production at a lowest cost. This deters new entrants as it would be expensive for them to compete due to higher unit costs. New entrants do not have the relevant experience and technology that existing competitors have that allows them to enjoy cost advantages through efficiency. In addition, regulations such as patent protection and trademarks safeguard the rights of established industry players and prevent new entrants from tapping on their knowledge and resources. The high barriers of entry lead to low threat of entry due to the high level of experience, cost savings and technology that existing large operators possess. Overall, the threat of entrants is relatively low. 4. Threat of Substitutes The presence of many key players in the international market evidently shows a relatively high substitution level in the healthy lifestyle products industry. Global consumer trends have observed that consumers have become more cautious about their spending habits; however, they are still willing to spend on items that are durable and value for money (Remuneration International 2012). This trend recognizes the threat of substitutes that results from the ratio of price to performance. Environmental-wise, there is an increasing demand for products that are more sustainable, environmentally friendly and ethically produced. Lastly, technological innovations have resulted in relatively low cost of transfer to another industry, such as the beauty industry, increasing the level of substitution. Overall level of substitutes to latherer lifestyle products is relatively high. 4. Bargaining power of buyers In this industry, quality, innovation, product diversity and the ratio of price to performance factors play vital roles. Economically, emphasis should be placed on understanding and considering the expectations and experiences of consumers before prices are adjusted, irrespective of the prevailing economic conditions (Analogy and Kari 2003). Technologically, the Internet age has resulted in a group of more informed consumers. Coupled with the wide variety of options in the market the power of buyers is enhanced as they are blew to switch to other brands easily. As buyers hold high bargaining power in the industry, differentiating ones brand through product innovation and development would prevent buyers from switching to other comparative substitutes easily. Overall, the bargaining power of buyers is high. 4. 4 Bargaining power of suppliers Economically, it is more cost effective to stay with the original supplier, especially during periods of high inflation rates. Due to goodwill, the original supplier would give companies longer credit terms, which would in turn increase the liquidity of companies in the business. Technology such as analytic, software tools and telecommunications are part of providing better information to existing industry players at a lower cost, and in product distribution. Besides, employees as suppliers for knowledge in the production process have placed operators in a vulnerable position. The high bargaining power of suppliers creates an unfavorable situation for industry players. ISM recognizes the importance of their employees and tries to reduce the bargaining power of suppliers by providing their employees with good welfare and benefits (ISM 2011 Overall, the power of suppliers in this industry is high. Competitive Rivalry This force identifies the level of competition posed by direct competitors whose target market is similar to the organization. Although political measures strive to reduce the presence of inferior quality and unsubstantiated products in the market, weaker economic conditions gave rise to more conservative spending, resulting in the growth of the bl ack market and stiffer competition within the industry. The extent of competitive rivalry has also increased due to current technological advancements that have quickened the growth rate of research and development in the industry. Even though the extent of competitive rivalry is high, existing operators should continue to innovate and build brand loyalty so as to compete and differentiate themselves in the industry. Otherwise, the extent of competitive rivalry in the healthcare lifestyle products industry is high. 4. Overall Five Forces Impact Using the five forces model to analyses the industry, it is increasingly favorable and attractive for potential and new industry players. 5. Resources and Competences Based on the resource-based view of strategy, the competitive advantage and superior performance of an organization is determined by its distinctive abilities (Heartfelt 1984). Strategic capabilities refer to the capabilities of an organization that contribute to its long-term survival which consists of its resources and competences (Mentors 2004), and when resources are deployed efficiently and effectively, it is said to be the firms core competences (Johnson, Whetting and Schools 2011 5. Financial Resource 2012 201 1 (AS million) Growth (%) Sales 602 554 Profit 87 69 +32 Cash and cash equivalents at beginning of year 193,813 73,157 Cash and cash equivalents at end of year 201 ,731 According to ISM (201 3), the Group has achieved its third consecutive year f record profit despite a tough economic environment. Isms ability to manage its cash flow has been reflected in the increased of cash and cash equivalents at end of both 2011 and 2012. For its balance sheet, it was evident that ISM has been improving its cash position and paring down its borrowings consistently, due to its strong positive operating cash flows over the years. They had done well in building a strong balance sheet with a net cash position of SASS million (ISM 2013), and showed superior management in its cash flows. 5. Inhuman Resource Johnson, Whetting and Schools (201 1) propose that the efficiency and effectiveness of the people in an organization depend not just on their existence, but on the relationship and cooperation between customers, partners or suppliers. In an attempt to build relationships across valuable networks, ISM signed a cooperation agreement with LEG Electronics Inc to enlarge its presence and market share in South Korea (ISM 2007). The Group has also gone into several partnerships (Figure 2; refer to Appendix 9. 2) whereby ISM can leverage on their nationwide specialty outlets across numerous states. Brand is always foremost in the company and consumers minds; hence, ISM ensures that everyone gets involved to ensure consistency In customers experience with the brand. It achieves this by implementing continuous improvement to keep the skills of its staff updated (Tem portal 2006). . Intangible Resource Hall (1992) argued that a companys reputation is perceived as one of the most significant resources which make the most important contribution to business success. ISM Asia No. 1 is an independent research conducted by Syncopate an international market research company, to determine Saiss most preferred brand of healthy lifes tyle products. The study found ISM to e a leading international brand with a strong presence in its key markets. The value reflected the brands ability to deliver a compelling and consistent experience that was relevant to its customers. Its superior brand image is clearly shown in Figure 3 (refer to Appendix 9. 3). 5. Vern Strategic Capabilities as a Basis of Competitive Advantage A firm achieves sustainable competitive advantage when the implemented value creating strategy is not similar to the strategies of current or potential competitors, and benefits of this strategy are not easily replicated by competitors (Barney 1991). In order to understand sources of sustainable nominative advantage, the value chain of ISM is considered in the diagnosis of its strategic capabilities. . 4. 1 V- value of Strategic Capabilities Considering the primary activity (marketing and sales), and support activities (technology development and human resource management) of ISM value chain in Figure 4 (refer to Appendix 9. 4), these capabilities provide the exploitation of opportunities and neutralist threats. Technology development, such as Isms in-house team enables the Group to enhance its R competencies to provide greater value-add t o its business and greater input to the design of its products. According to COBS (201 0), ISM has been actively adding its product range by renewing its product line by up to 25% every six month to cater to the changing needs of consumers. In addition, Isms message of We focus on attracting and grooming great talent committed to our companys goals (Temporal 2006) has proven that its human resource is seen as providing potential competitive advantage. It supports the notion of Happy staff, happy customers through providing training and development. In terms of marketing and sales, ISM has an extensive point-of-sales network and geographical coverage in their markets (refer to Appendix 9. Whereby consumers are made aware of their products and are able to purchase it. 5. 4. 2 R-rarity of Strategic Capabilities Rare capabilities are those possessed uniquely by one organization or by a few others. ISM has worldwide technology patents that give it advantage. For example, Isms patented Music-Synchronized Massage technology and patented ISM Human-AD mas sage programmer which are designed together with its massage chairs. Andrea and Cobra (1996) argued that rarity provides competitive advantage if it meets customer needs, and are of value to them. The convenience of the mobile app technology on its massage hairs has significantly eased the control and transformed into an intelligent, multi-sensory enjoyment for consumers. In summary, ISM has a number of strategic capabilities that are valuable and rare. However, it is not difficult for competitors to imitate the tangible resources of ISM as these can be acquired or imitated over time, and the risks of its product and service substitution are relatively high given the increasing demand for sophisticated and healthy lifestyle. ISM needs to develop products that are inimitable and non-substitutable to increase its bases of sustainable competitive advantage. 6. Business Strategy There are three generic types Of business strategies; cost-leadership, differentiation and focus strategies, with cost-focus and differentiation-focus strategies as subsets of focus strategy (Johnson, Whetting and Schools 201 1). The strategies that ISM is implementing are identified to be differentiation-focus strategies, which refer to the focus on the specialization of creating valuable good and services to answer specific needs of consumers in order to achieve price premium. MM, being the pioneer in the healthy lifestyle industry, focuses on bringing the lifestyle of well-being to their customers (MUM 2007). As a result, the numbers of ISM outlets have continuously grown in many shopping malls. ISM maintains strong relationships with shopping mall owners such as Capitalist and Nameplate in order to be invited as a tenant in their newly opened malls (COBS 2010). Their continuous expansion plans have evidently shown their focus on bringing the lifestyle of well-being to consumers through extensive presence in most shopping malls. In addition, in comparison to Isms competitors such as TOT Boatyard and Gawk, Isms focus on their customers well-being is their differentiating factor amongst other healthcare products providers. Isms continuous innovation and growth has exemplified their mission of delivering well-being to their customers. It couples innovation with passion to drive steady growths and continuous product launches in order to promote positivist to their customers and providing them with the ultimate product usage experience (ISM 2007). In contrast, TOT Boatyard (2011) focuses on using innovation to produce products at low cost to reach out to consumers with right pricing strategies and Gawk (2007) concentrates on producing quality products. Isms usage of innovation is more inclined to producing valuable products hat cater to the healthcare needs of consumers. Another source of focus differentiation originates from Isms commitment to RD to develop their products. Nations Matrix serves as a good strategic management approach for improving competitiveness (Taylor 2012). With reference to Figure 5 (refer to Appendix 9. 5), Isms incorporation of technology and product development has led to the creation of new products for existing markets. Continuous launches of new products via RD innovations to existing markets serve as a defensive strategy to retain customers (Koch 2008). 7. Suitability of Isms Business Strategy Strategy evaluation is an appraisal of how well a business performs. As the environment changes, companies need to alter their strategies to adapt to the environment in order to prosper (Miller 1988). An external environmental analysis and internal capability evaluation has been carried out to determine Isms strategic position, and the suitability of each strategic choice is evaluated in terms of the environment and its capabilities (Table 1 and 2; refer to Appendix 9. 6 and 9. 7). It is clear that Isms competitive strategy (differentiation focus), strategy direction (product development), and ethos of pursuing strategies (acquisitions and alliances shown in Figure 6; Appendix 9. 8) work together as a package. ISM is in a favorable position within its industry given its first-mover advantage, and its strategic option of product development has proved to provide a basis of competitive advantage by reducing competitive intensity and development of barriers to new entrants. It has leveraged on its in-house RD team which is considered as one Of its strategic capabilities to deliver differentiation benefits as valued by its consumers. In addition, ISM has adapted to its environment by exploiting n the opportunity that consumers are trending towards a healthy and positive lifestyle.