How Could Physicians Perception about the Combination Therapy in managing Asthma affects its Sales performance - Free Essay Example

Sample details Pages: 8 Words: 2542 Downloads: 9 Date added: 2017/06/26 Category Medicine Essay Type Research paper Level High school Did you like this example? How Could Physicianà ¢Ã¢â€š ¬Ã¢â€ž ¢s Perception about the à ¢Ã¢â€š ¬Ã…“Combination Therapyà ¢Ã¢â€š ¬Ã‚  in managing Asthma affects its Sales performance? (Special reference to à ¢Ã¢â€š ¬Ã…“Symbicort Turbuhaler à ¢Ã¢â€š ¬Ã…“by AstraZeneca) Project Propsal Table of Contents ContentsPage Title 3 Introduction 3 Background of the problem 3 Insight to company Insight to product Establishment of the problem 4 Objectives of the report 5 Literature Review 6 introduction to key concepts 6 Theoretical Framework 6 Analyzing finding at national level 9 The Approach to data collection analysis 9 Research Methodology 10 Research Instruments 10 Sample Technique 10 Data collection 11 Data analysis 11 Credibility of proposal 12 Consideration of ethical issues 12 Action Plan 12 List of references 13 List of Figures Figure 1: Market share comparisons in combination Market 2013/2014. Figure 2: The GMS: A Broad conceptualization of Global Marketing Strategy Figure 3: Sampling Design List of Tables Table 1: Sales Volume Comparison 2012/2013/2014 Don’t waste time! Our writers will create an original "How Could Physicians Perception about the Combination Therapy in managing Asthma affects its Sales performance?" essay for you Create order Title How Could Physicianà ¢Ã¢â€š ¬Ã¢â€ž ¢s Perception about the à ¢Ã¢â€š ¬Ã…“Combination Therapyà ¢Ã¢â€š ¬Ã‚  in managing Asthma affects its Sales performance? (Special reference to à ¢Ã¢â€š ¬Ã…“Symbicort Turbuhaler à ¢Ã¢â€š ¬Ã…“by AstraZeneca) Introduction Background of the problem When analyzing the background of the problem, it is important to have and comprehensive knowledge about the organization and the products. Insight to the company Astra was a former Swedish pharmaceutical company which was founded in 1913. Due to various future ambitions à ¢Ã¢â€š ¬Ã…“Astra- PLCà ¢Ã¢â€š ¬Ã‚  and à ¢Ã¢â€š ¬Ã…“Zeneca-PLCà ¢Ã¢â€š ¬Ã‚  of United Kingdom merged together and formed AstraZeneca-PLC in1999. As per the sales revenue of 2013 AstraZeneca holds the 6th position globally in multinational pharmaceutical industry recording a sales turnover of US $ 27.9bn (Top 20 Pharma, 2013) Insight to product. Turbuhaler is a class of a device innovated by AstraZeneca, this device is preloaded with drugs to use in asthmatic Patients. Widely used as à ¢Ã¢â€š ¬Ã…“Symbicort Turbuhalerà ¢Ã¢â€š ¬Ã‚  (generic name of drug included Budesonide and Formetrol as a combination) Symbicort Turbuhaler as a product has been in Sri Lanka for more than 6 years. With having lots of benefits and still holds the patency for the device, ità ¢Ã¢â€š ¬Ã¢â€ž ¢s available at a premium price of LKR. 2516/= per device with 60 doses, and available in two strengths. Establishment of the problem. Even though à ¢Ã¢â€š ¬Ã…“Symbicort Turbuhalerà ¢Ã¢â€š ¬Ã‚  offers more Clinical benefits over competitors, as per the internal sales data of AstraZeneca- Sri Lanka in 2014, Symbicort Turbuhaler has shown a 5% growth over 2013. Even though the growth is 5% the market share has come down by 1%. As per the internal sales in 2013 has been de- grown by 21% over 2012. (AstraZeneca-SL, 2014) Table 1. Sales Volume Comparison 2012/2013/2014 2012 2013 Growth 2014 Growth Units Value Units Value Units Value 18,253 38,141,957 14,357 31,413,116 79% 15,020 32,863,760 105% But in overall Combination Market data in Sri Lanka, it is identified that total market is de-growing at -3.48% in revenue over 2013 in 2014. But as Multinational products à ¢Ã¢â€š ¬Ã…“Seretideà ¢Ã¢â€š ¬Ã‚  by GSK (Glaxo SmithKline) also has lost their MS by 2%, on the other hand Branded generics have increased their MS by 1% (IMS, Q4-2014). On the other hand AstraZeneca allocates 10 % of à ¢Ã¢â€š ¬Ã…“Symbicortà ¢Ã¢â€š ¬Ã‚  sales revenue as its promotional budget. That means averagely about LKR 3 Mn per annum is being used for promotions of à ¢Ã¢â€š ¬Ã…“Symbicortà ¢Ã¢â€š ¬Ã‚ . But when à ¢Ã¢â€š ¬Ã…“Symbicortà ¢Ã¢â€š ¬Ã‚  growth is depend on various factors in marketing, need to identify the same for its performance. However expected growth of à ¢Ã¢â€š ¬Ã…“Symbicortà ¢Ã¢â€š ¬Ã‚  in 2014 was 15% (AstraZeneca-SL, 2014) Figure 1. Market share comparisons in combination Market 2013/2014. Objectives of the Report The main objective of this study will be identifying the perception and the prescribing patterns of physicians; will it impact the sales performance of a pharmaceutical product? To identify the key drivers that affects the sales performance of à ¢Ã¢â€š ¬Ã…“Combination therapyà ¢Ã¢â€š ¬Ã‚  To identify effective way of increasing sales volume of à ¢Ã¢â€š ¬Ã…“Symbicortà ¢Ã¢â€š ¬Ã‚  and secure the market share. To Increase the financial contribution to RD and strengthen the product pipeline of AstraZeneca. To provide suitable suggestions and recommendations to the management of AstraZeneca to overcome above problems. 3. Literature Review 3.1 introductions to key concept In this context of study it is really need to be understood that the variations of trends in sales impact is due to marketing concepts are used to meet the objectives. To arrive at organizational expectations, a marketing plan or a conceptual frame work of marketing is meant by marketing mix (Palmer, 2007). According to Alaà ¢Ã¢â€š ¬Ã¢â€ž ¢Eddin Mohammad Khalaf Ahmad (2013) marketing mix refers to a set of tools that offers customer which in return to an organization to achieve their objectives. Marketing mix 4ps consist of product, price, place, and promotion. When a product performance is declining and variations in performance in certain period of time, it is right to analyze the marketing mix which includes the perception of the customers towards the product, the promotion strategies and the targeted customer base is covered. Which also have a positive or negative impact on performance? Since à ¢Ã¢â€š ¬Ã…“Symbic ort Turbuhalerà ¢Ã¢â€š ¬Ã‚  is a tangible product conventional 4ps Marketing Mix has been taken as the concept to explore. 3.2 Theoretical Framework to the Project The study that has been heavily emphasized that marketing mix is increasing being adopted by in virtually all the sectors of the economy. Hence as per Aremu, M.A. and Bemiduro, J.A., (2012) marketing mix has been a major determinant of the organizations short term and long term success. Furthermore this study emphasizes that adopting marketing mix by an entrepreneur will able to gain competitive advantage as well. Since this study states that organization success can achieve with marketing mix, it will be an interesting opportunity to find out more in-depth what kind of elements will impact the same. Marketing mix is a great tool to gain competitive advantage over other marketed products (Ibidunni, O.S., 2011). As per this study it is proven that in Nigerian multinational companies and indigenous food and beverage companies have utilized marketing mix elements to arrive at a competitive advantage. And it is also clearly identified and mentioned the variables could influence the perception of the consumer towards companies achieving its performance level in the market place. This study strongly recommends indigenous companies to follow relevant marketing mix. Hence this study emphasize on marketing mix as a tool of gaining competitive advantage over other markets, will be considered as a supportive study and will be explored for further information to do this research. As the above mentioned studies Shaoming Zou and S. Tamer Cavusgil (2002) has clearly stated that the relationship between global marketing strategies has an impact on organizational performance. Global Marketing Strategies (GMS) that integrates three major perspectives which includes standardization, configuration- coordination, and integration perspectives. Since AstraZeneca Pharmaceutical is a Multinational Company impl ementing global marketing strategies can have an impact on organizational performance. The below shown Figure 2. Explains eight dimensions which global marketing strategy at which degree that is implemented to market products across other country markets. Source: Journal of marketing, Vol. 66, Page 43. This study will be further explored deeply to get information for the research. As followed by the previous study, article published in Brazilian Administration Review by Brei, V.A., Dà ¢Ã¢â€š ¬Ã¢â€ž ¢avila, L., Camargo, L.F and Engels, J., (2011) has done a meta-analysis on the influence of adaptation and standardization of marketing mix on performance in international context. The results of this analysis have shown it has a positive impact on its performance. If its adaptation, it is suggested to adapt price and followed by promotions, product and place. Since it is proven that marketing mix has a positive impact on its performance, referring this study will help to f ind out more information. Elaborating further more would like to explore more about, will prescribing patterns of physicians due to promotional strategies implemented companies through promotional staff? According to the study done by, Serhat, Vancelik. , (2007) it has been proven the promotions done by promotion staff, academic content (knowledge) which is shared with the physicians has made an impact on their prescribing pattern. This study can be explored to identify that any promotion strategies by AstraZeneca- SL will Impact the Physician prescribing Pattern. Pharmaceutical companies use scientific and educational information to physicians in giving the best treatment to their patients. But in Sri Lankan Health sector it is found to be different due to several factors. According to Geoffrey, K. Spurling, (2010) have done a systemic review to identify information from pharmaceutical companies and the quality, quantity, and cost of physicians prescribing. The results of thi s study have shown that the investment cost on promotion by the companies is competitively high and it has an impact on influencing physicians prescribing pattern. This study can be explore further to get information and will be supportive in identifying the factors in Sri Lankan Market. According to Saito S, Mukohara K, Bito S (2010), has done a survey in japan physicians to identify the relationship between the pharmaceutical Representatives or companies. The results have shown that the attitude of several physicians has an impact or influence in prescribing pattern and at a risk in long term. This is a clear identification and will be the same scenario which has impacted in srilankan market due to no regulation in controlling. Fusun. F. Gonul., (2001) has found that promotion of prescription drugs will impact on physician choice behavior. In this study not only price the promotions (detailing and sampling) have an impact on physician behavior which is positive in most cases . And physicians in this study have been categorized by fairly limited price sensitivity. This study will be deeply analyze and get further information to this research. Specially to develop questionnaires effectively. 3.3 Analyzing the findings at national level. Customer (Physicians) Perception impact on marketing mix which can be positive or negative in performance in a product or in an organization will be analyzed locally, and globally through reviewing the studies, articles, and journals stated in the theoretical frame work above in this research. The Approach to data collection analysis. In order to selecting the methodology will be looked at the possibility of accessing to primary and secondary data in terms of getting permissions. And also specifically apply theories that learned in an appropriate manner, research methods, research instruments, sample technique, data collection, and data analysis will be elaborated in this topic and will give the credibility of doing this research. Research Methodology According to Naresh, K. Malhotra., (2008) it is identified that to formulate successful marketing strategies with rich insights, will get from both qualitative and quantitative approaches in combination. In this research Quantitative approach will be used to understand the relationship of the variables. Mainly quantitative approaches such as questionnaires will be used with physicians as they are very busy and less open for lengthy or in-depth discussions. But qualitative approach may be used for measuring the medical representativeà ¢Ã¢â€š ¬Ã¢â€ž ¢s product knowledge by using secondary data available at Company. Research instrument According to Naresh, K. Malhotra., (2008) an instrument of research questionnaires have three specific objectives, first the respondents can and will answer which must translate the information in to a set of specific questions. This is a challenging objective. Second, a questionnaire must motivate and encourage getting involved in the interview. Third, it should minimize response error. So in this research Main instrument will be the questionnaire given to physicians. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s a self-administrative questionnaire. Sample Technique Judgmental sampling (typical case sampling) will be used as a sample technique. There are few reasons to use judgmental sampling. Pharmaceutical industry is an academic and informative area Data saturation could be essential Difficulty of approaching elements Relatively low cost Figure 3. Sample Design. Above sample of 35 elements will include following. 10 physicians 2 Chest Physicians 15 General Practitioners 8 Medical Officers Data Collection Primary data collection methods Questionnaires will be distributed through medical representative. Medical representatives will be educated in obtaining answers to questionnaires. Secondary data collection methods Annual Reports Territory sales reports IMS data Company internal Evaluation Reports ( Medical Representatives) Data Analysis Collection of data will be analyzed by using MS-Excel and also will be presented through bar charts, tables, and line graphs. Credibility of this proposal. This research is practical and achievable study. All sample and elements will be selected from current customer base of AstraZeneca Sri Lanka hence all customers are accessible. Since the total sample elements are restricted to 35 doctors. Completion of this research in given time frame is possible. Furthermore, financial liability is within the acceptable range. Consideration of Ethical issues. Confidentiality of collected data will be secured. Access to hospital premises will be requested before collecting data Action Plan List of reference Roger A.Plamer, Juanita Cockton, Graham Cooper (2007) Managing Marketing [Online] Available at: https://books.google.lk/books?hl=enlr=id=xc3LMeik5wwCoi=fndpg=PR3dq=introduction+on+marketing+mix+4ps+palmer+2004ots=mJ2-YoHddhsig=5-f6nj8z2BF4iteWorQBRMp_XLMredir_esc=y#v=onepageq=marketing mixf=false (Accessed: 29 March 2015) AlaEddin Mohammad Khalaf Ahmad (2013) the impact of Marketing Mix Strategy on hospitals performance measured by patient satisfaction: an empirical investigation on Jeddah Private Sector Hospital senior managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s perspective, International Journal of Marketing Studies; Vol. 5, No. 6; 2013 [Online] Available at: https://www.ccsenet.org/journal/index.php/ijms/article/view/31968/18600. (Accessed: 29 March 2015) Aremu, M.A. and Bemiduro, J.A., (2012). Marketing mix practice as a determinant of entrepreneurial business performance. International Journal of Business and Management Vol. 7, No. 1; January 2012 Ibidunni, O.S., (2011) marketing mix as tools for achieving competitive advantage in Nigerian market place: Multi-National and indigenous companies in perspective. Journal of Marketing Development and Competitiveness, 5(7), pp.81-94. Shaoming Zou and S. Tamer Cavusgil (2002). The GMS: A broad conceptualization of global marketing strategy and its effect on firm performance in journal of marketing, Vol. 66, No. 4 (Oct., 2002) pp. 40-56 [Online] Available at: https://www.jstor.org/discover/10.2307/3203357?sid=21106316350763uid=70uid=385054361uid=385054351uid=3uid=2134uid=60uid=2 (Accessed: 30 March 2015) AstraZeneca à ¢Ã¢â€š ¬Ã¢â‚¬Å" SL, 2014. Internal Secondary sales data. [Excel] December 2014, Colombo: AstraZeneca Pharmaceuticals. IMS Q-4, 2014. Sri Lankan Pharmaceutical industry market statistics, software version 2014, IMS: Colombo. Top 20 Pharma, (2013). Top 20 pharmaceutical companies. [Online] Available at: https://www.contractpharma.com/heaps/view/542. (Accessed 30 March 2015) Brei, V.A., Dà ¢Ã¢â€š ¬Ã¢â€ž ¢avila, L., Camargo, L.F and Engels, J., (2011). The influence of adaptation and standardization of the marketing mix on performance: a meta-analysis in Brazilian Administration Review. [Online] Available at: https://www.scielo.br/scielo.php?pid=S1807-76922011000300004script=sci_arttext (Accessed 30 March 2015). Serhat, Vancelik. , (2007). Impact on pharmaceutical promotion on prescribing decisions of General practitioners in Eastern Turkey in BMC Public Health.[Online] Available at: https://www.biomedcentral.com/1471-2458/7/122. (Accessed 30 March 2015) Geoffrey, K. Spurling, (2010). Information from pharmaceutical companies and the quality, quantity, and cost of physicians prescribing: a systemic review. [Online] Available at: https://journals.plos.org/plosmedicine/article?id=10.1371/journal.pmed.1000352#pmed-1000352-g002. (Accessed 31 March 2015) Saito S, Mukohara K, Bito S (2010) Japanese Practicing Physicians Relationships with Pharmaceutical Representatives: A National Survey. PLOS ONE 5(8): e12193. Doi: 10.1371/journal.pone.0012193 Available at: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0012193. ( Accessed 31March 2015) Fusun. F. Gonul., Franklin, carter., (2001). Promotion of prescription drugs and its impact on physician choice behavior in journal of marketing. Vol. 65, No. 3 (Jul., 2001), pp. 79-90[Online] Available at: https://www.jstor.org/discover/10.2307/3203468?sid=21105863286271uid=385054361uid=70uid=385054351uid=2134uid=60uid=2uid=3. (Accessed 1 April 2015). Naresh, K. Malhotra., (2008). Marketing Research: An Applied Orientation, 5/E, Person education India. [Online] Available at: https://books.google.lk/books?hl=enlr=id=TKb8iORscegCoi=fndpg=PR19dq=using+quantitative+and+qualitative++research+methodology+for+a+product+to+identify+customer+perceptionots=xUpZFRQ9eXsig=TCTEBR33I9V4egJ8OwvQoFITEPcredir_esc=y#v=onepageq=quantitative and qualitativef=false. (Accessed 2 April 2015).

Surviving Hitler a Comparison of Night and the Pianist in...

The Holocaust is the name applied to the systematic state-sponsored persecution and genocide of the Jews of Europe and North Africa along with other groups during World War II by Nazi Germany and collaborators. Early elements of the Holocaust include the Kristallnacht pogrom of the 8th and 9th November 1938 and the T-4 Euthanasia Program, progressing to the later use of killing squads and extermination camps in a massive and centrally organized effort to exterminate every possible member of the populations targeted by the Nazis. The Jews of Europe were the main victims of the Holocaust in what the Nazis called the Final Solution of the Jewish Question. The commonly used figure for the number of Jewish victims is six million, so much so†¦show more content†¦Eliezers teacher, Moshe the Beadle, somehow escapes the Nazis and returns to Sighet to convey to the town an unheeded warning. Perhaps the most bizarre coincidence of all is Eliezers survival. He is fortunate enough, on hi s arrival in Birkenau, to meet a man who tells him to lie about his age. Despite Eliezers small size, he does not succumb to cold or exhaustion and is not chosen in any of the selections, though many who are healthier than he is are sent to the gas chambers (Weisel 63-109). In the novel, Eliezer says that the Holocaust murdered his God, and he often expresses the belief that God could not exist and permit the existence of the Holocaust ( Weisel 73). Elie Wiesel and Eliezer are not exactly the same, but Eliezer expresses, in most cases, the emotions that Wiesel felt at the time of the Holocaust. It is fair to say that Night contains a profound skepticism about Gods existence. Yet Eliezer is not enlightened by his rejection of God; instead, he is reduced to the shell of a person. Likewise, Akiba Drumer, upon abandoning his faith, loses his will to live (Weisel 73). Wiesel seems to be suggesting that the events of the Holocaust prove that faith is a necessary element in human survival, because it preserves man, whether or not it is based in reality. Faith, Wiesel seems to say, enables hope, and it is always necessary for the prisoners to maintain hope, in order for them to maintain life. Even when Eliezer claims

The Marketing Strategies of Apple, Inc. free essay sample

The Marketing Strategies of Apple, Inc. Market segmentation strategy involves dividing the market into groups, where individuals have similar needs and wants for services and products. It could also be a segmentation of people on the basis of behavior, culture and economic status. To get a clearer picture of what is market segmentation, one can always look into the definition provided by business dictionary. com, market segmentation is defined as, Process of defining and sub-dividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand haracteristics (Meadows, 2008). Companies need to segment their market for different reasons. Before one markets products or services, one needs to understand their customers, and find ways and means to satisfy their wants. This is imperative to stay ahead of the competition and build the brand. This is done through extensive market research. Although it is not possible to satisfy individual needs and even to understand all of them, a clearly defined market segmentation strategy will help create a market to cater to groups of individuals that will make economic sense to mass produce and distribute. We will write a custom essay sample on The Marketing Strategies of Apple, Inc. or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The concept of target market segmentation strategy also falls under the blanket of market segmentation, except the former recognizes and understands the diversity of customers and provides them with products and services that suit their specific requirements (McDaniels Kolari, 2008). A successful market strategy strives to understand different segments and its different needs; works on the exhibited common wants and responds immediately. Apple has historically been troubled by big-box sales staffers, who are ill-informed about its products, a problem that made it difficult for Apple to set its very different products part from the rest of the computing crowd. By creating a store strictly devoted to Apple products, the company has not only eliminated this problem but has made an excellent customer-loyalty move. Apple stores are a friendly place where Mac and PC users alike are encouraged to play with and explore the technology that the company offers. This is a space where Macheads can not only get service but also hang out with others who enjoy Apple products Just as much as they do. By creating this space, Apple encourages current and new customers to get excited about what it has to offer. Apple carefully considers what consumers are looking for, so its products are a result of both extensive research and strong design (Piddshetti, 2007). This meticulous planning is a large contributor to Apples high customer-satisfaction rates. Its plain and simple: Robust and easy-to-use products not only make customers happy, but also makes them want to buy more products from Apple in the future. Apple Inc. , led by Steve Jobs virtually rewrote the book of strategy as well as the history of consumer electronics, with its pioneering i products: the iPod and iPhone (Peckham, 2010). These products are differentiated with features that multiple niche market segments would appreciate and pay for but are also cost-competitive helping most people become the users of the products. The niches that each of the products occupies, therefore, cover almost the entire market place questioning the competitors, yet iPod and iPhone remain the pioneers with an amazing invincibility (Peckham, 2010). The sustainability of Apple products relates to the fact that they ushered in, and successfully maintained a whole new and complete user experience, which could not be matched by any competitor products in totality despite their eing superior in parts. They were highly effective products that were reached to customers with attractive ownership options and distinctive retailing formats. The products constituted the core that created the markets, however. An example of one product and multiple segments would be Apples iPod which was produced and targeted towards different demographic segments including male and females, different age levels and different income levels. The iPod was also targeted towards different geographic segments where the product had variations in price and features (Piddshetti, 2007). Common elements of a successful business plan include competitive analysis, value proposition, a pricing structure, and market segmentation. Market segmentation enables companies to become more understanding and knowledgeable of their customers needs. Marketers are able to develop strategic marketing plans based on this information which is directly geared towards a target market. By understanding customers, a company can become more responsive and better adapt to changing customer needs. References McDaniel, Stephen W. and Kolari, James W. , (2008). What is marketing strategy? Journal of Marketing. 1(3), October, 19-30. Retrieved September 1, 2010, from ProQuest Direct database.

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Business proposal “Airasia” Essay Essay Example

Business proposal â€Å"Airasia† Essay Essay Example Business proposal â€Å"Airasia† Essay Essay Business proposal â€Å"Airasia† Essay Essay The company selected for this concern proposal is AirAsia Berhad ( afterlife referred as AirAsia ) and both the concern and fiscal public presentation of AirAsia would be analysed from 1st January 2009 to 31st December 2011. â€Å"The company was incorporated in 2001. as a private limited liability company both incorporated and domiciled in Malaysia. AirAsia was converted into a public limited liability company on 8th June 2004 and became listed on the Main Board of Bursa Malaysia Securities Berhad on 22 November 2004. The chief activity of AirAsia is supplying Air Transportation Services† . The vision of AirAsia has been â€Å"to be the largest low cost air hose in Asia and functioning the 3 billion people who are presently underserved with hapless connectivity and high fares† . AirAsia’s mission is to make a globally recognized trade name in the ASEAN ( Association of Southeast Asian Nations ) and sustain profitableness growing with the highest quality services and technological promotions. The doctrine of AirAsia is to do winging possible for everyone. Since 2001. AirAsia had fleetly broken travel norms across the Earth. where it is a taking low-cost bearer that does non necessitate farther debut in ASEAN. With the tagline â€Å"Now everyone can fly† . AirAsia ferried 135 million invitees as at 31 December 2011. Furthermore during the past decennary AirAsia established successful ventures with Thai AirAsia. Indonesia AirAsia. AirAsia Philippines. AirAsia Japan and AirAsia X ( chiefly focused on long-haul section ) . leting AirAsia to take low-priced winging to a farther degree with a path web that spans over 20 states. Reasons for making this concern proposal Prior cognition The chief ground for choosing this subject is to use anterior cognition obtained from the concern and fiscal faculties antecedently covered in the ACCA course of study. Furthermore. fiscal analysis is important in construing consequences disclosed in the fiscal statements. Availability of information Besides handiness of one-year studies and other concern beginnings provided me with equal information to analyze the public presentation of AirAsia that farther encouraged in taking this subject. The one-year studies were readily available from the company web site and no clip was wasted on extraction of it. Reasons for taking AirAsiaExtensive growing of AirAsiaIn January 2002. AirAsia had merely two aeroplanes that had been winging to six finishs within Malaysia. During the past decennary AirAsia had significantly expanded to wing over 80 finishs with a fleet of 97 aircrafts as at 31 December 2011. Hence I was motivated to happen out how AirAsia managed to accomplish successful growing and a healthy underside line. Famous in South East Asia ( SEA ) AirAsia is one of the largest and most popular low cost air hoses in SEA. which had facilitated going at low-cost monetary values ; which is the chief ground behind riders preferring AirAsia for both domestic and international flights. Furthermore the finishs flown by AirAsia screens more hubs compared to other air hoses and riders are presented with bundled travel bundle options. which include air ticket. hotel adjustment. travel services. In add-on. AirAsia was chosen as the â€Å"World’s Best Low-Cost Airline† awarded by Skytrax World Airline for four back-to-back old ages ( from twelvemonth 2009 to 2012 ) . Furthermore. in the twelvemonth 2009 and 2011. AirAsia was awarded with â€Å"Best Asiatic Low-Cost Carrier† award by TTG Travel Awards. Undertaking aims and research questionsProject objectives To analyze and measure the fiscal public presentation of AirAsia over a 3 twelvemonth period by comparing its public presentation against Tiger Airways Holdings Li mited utilizing relevant fiscal ratios. To analyze and measure the concern public presentation of AirAsia over a 3 twelvemonth period utilizing the staying three positions of the Balance Scorecard technique To measure. with grounds whether AirAsia is a worthwhile investing chance Research questionsHow did AirAsia financially perform in comparing with its rival Tiger Airways? How does AirAsia’s fiscal public presentation impact on its stockholders? How was AirAsia’s concern public presentation within the 3 old ages? How does AirAsia manage to prolong its ‘no-frills’ scheme and place amidst the increasing competition? Beginnings of informationPrimary informations sourcesPrimary informations refers to new informations collected by a research worker associating to the issues of the survey. The methods used to roll up primary informations involve questionnaires. observations. studies and interviews. The research worker who collects the information is referred as primary user ( s ) . Primary informations would non be used in this undertaking as it is clip devouring to roll up such informations and several information is readily available. Therefore information available from secondary beginnings will be used to run into the undertaking aims and research inquiries defined earlier. Secondary informations sourcesSecondary informations r efers to informations gathered by person else and already used for their ( primary users’ ) intent. The individual set abouting the research is referred as the secondary user. who would set about desk or library research for the said undertaking. The chief beginnings of secondary informations used for undertaking are: TextbooksTextbooks were used as the chief beginning of information as they were complied by people who have vast cognition in the capable country and be given to be more dependable and accurate compared to other beginnings. The chief types of text editions referred in this undertaking for fiscal analysis are ACCA BPP survey stuffs and academic mention books such as â€Å"Accounting Principles† by Weygandt. Kimmel and Kieso and â€Å"Financial and managerial accounting† by Horngren. Harrison and Oliver. To analyze the company’s concern public presentation. â€Å"Alignment: utilizing the balanced scorecard to make corporation synergies† by Kaplan. Roberts and Norton had been referred to. Electronic beginnings E-sources were used due to convenience and effectiveness. The chief e-source used was AirAsia’s web site to abstract the one-year studies and all information sing the company. Additionally. Internet had been used for farther reading to heighten academic cognition and obtain relevant newspaper articles and other information about the company.

Building Sustainable Organizations Analysis

The report discusses the HRM practices in an organization through the case study of a   hospital which is located in Australia with around 400 staff members. The hospital has its unit across the Australia. The case study discusses ineffective HR practices operating in the hospital administration which have contributed to high attrition, grievances, absenteeism and shortage of staff in the organization. The hospital has been reported to have some serious accidents involving patients and staff members. The case then discussed a contrasting view of another hospital that is effectively implementing HRM practices in its administration through employee engagement activities, HR policies, job analysis and recruitment and selection. The hospital has been reported to have great patient services because of its sustainable management practices and policies. The first hospital discussed in the case reflects ineffective HRM practices which have degraded the quality of patient services and have even led to some serious patient accidents. The hospital only has one payroll department which takes care of the salary of the employees and one HR consultant who conducts weekly visits to the hospital. All the responsibilities of an HR manager have been laid down on the middle managers which has overburdened them. The CEO of the hospital has been overlooking the consequences of this activity of overburdening middle managers. This has resulted in work conflicts, staff turnover and absenteeism. The overall quality of the services of the hospital has also degraded. The hospital lacks an effective munication model, which is taken care by an HR manager. Effective munication is required for assigning roles and responsibilities, boosting employee confidence and evaluating performance of the employee. An effective munication holds an organization together through effective policies, employee handbook, meetings and conferences, performance evaluation, employee engagement etc. munication helps to transfer the information from one department to other and thus maintains the flow of information through mails, telephones, meetings, documents, employee record etc (Fielding, 2006). It is the role of an HR to maintain an effective munication in an organization which is not present in the hospital. Employment r elations are also not being properly managed ineffective HR policies. Employment relations are required to hold the employees and have good staff retention in the hospital through developing relation between employee and the hospital through benefits and pensation, appraisal system etc (Gardner & Palmer, 1997). The employee gets frustrated and demotivated due to work conflicts and situation based problems. They need to be motivated by an HR manager through meetings and other activities. The managers are not even aware that these assigned responsibilities are not even part of their job and get frustrated sometimes which creates absenteeism and staff turnover. This overall impacts employee petence through work conflicts and absenteeism which indirectly affects the quality of the services of hospital and leads to disappoint patient. This spoils the image of the hospital and affects the long terms goals and objectives of the organization. A sustainable HRM model is required to improve the quality of the services of the hospital (Wolper, 2004). The CEO of the hospital needs to review the performance of the hospital in order to build a sustainable business model. He needs to understand that an HR consultant is not enough while considering the long term goals and objectives of the organization. The patient care and safety are one of the essential ponents for a successful running hospital which are not as per the norms of a hospital. The severe accidents may increase in the future and may have disastrous consequences on the operational system of hospital. The CEO needs to develop a sustainable HRM model in order to achieve the long term goals and objectives of the hospital (Wolper, 2004). CEO would have to create an effective HR department and ensure proper implementation of the HR policies and practices. He could have a look at the HRM model of other successfully running hospital as mentioned in the case study. The hospital has a proper HR department which has led to quality services to the hospital through its staff retention and employee engagement. Thus, CEO should plan to develop an HRM model in the hospital by considering the following roles and responsibilities of an HR department and should hire an HR manager who could assist him in other recruits for the department. The HR manager is responsible for hiring the suitable employees as per the needs and requirement of the job profile in the organization. Employees are recruited through different channels such as newspaper ads, online ads, networking, telephone etc. It is the responsibility of an HR to use the right channel for selection (Brinkerhoff & Goldsmith, 1992). When a new employee gets hired and joins the organization, he needs to be well versed about the organization and his duties and job role. The HR manager guides and instructs the employee through an induction and training program regarding what he would be expected to do through employee handbook, job description, pany policy manual and training and mentoring. He also checks all the required documents of the employee such as id proof, degrees etc (Brinkerhoff & Goldsmith, 1992). It is the duty of an HR manager to ensure that hospital plies with the rules and regulations of the government through his legal research expertise on hospital. The hospital must abide by the laws as prescribed by the government which may include recruitment contracts with the medical practitioners. Then there are employee contracts which should be very well documented (Brinkerhoff & Goldsmith, 1992). It is the duty of an HR to control and monitor the performance of an employee through employee engagement, resolving work conflict, handling grievances, appraisal system etc. The employee performance is responsible for quality of the services of a hospital. An HR boosts the confidence of employees through different activities and ensures smooth operational activities in an organization (Wolper, 2004). An HR manager is also involved in core team of a hospital and helps in building strategies in alignment with the goals and objectives of the organization. An HR manager acts as an intermediate between the employees and the hospital and thus, helps to resolve employee issues and concerns through proper planning and devising solution (Evans, 1990). Training and development is a very crucial element to develop a sustainable business model in hospital industry. It ensures quality services and equipping the staff with latest technology and practices in the market. It is the duty of an HR to conduct regular training in the hospital such as handling patient effectively, being polite to the patient etc. Thus way training improves the quality standard of a hospital (Savage, Fottler & Khatri, 2010). HR is responsible for running operations of a hospital smoothly and effective administration is the core element of HRM in hospital. The responsibilities may vary from hospital to hospital (Fried, Fottler & Johnson, 2005). Studying the above roles and responsibilities, it can be evaluated that an HR plays a very important role in effective delivery of services and ensuring quality patient care. Further, the report would discuss the ways to develop a sustainable HRM model in a hospital and its consequences. A sustainable HRM model consists of six elements which would be discussed one by one below: HR Management Systems: It ensures that the operational activities are being maintained in an organization through integration of data, staffing and placement and employee support system. The data is helpful is evaluating the performance of the employees and provides employee feedback and coaching and mentoring to the employees if required. This would improve overall work productivity of the hospital through an effective appraisal system and policies and measures (Evans, 1990). Leadership: Employees look for continuous guidance and instructions from their superiors to make sure that their work is in alignment with the goals and objectives of the hospital. HR manager would make sure that the employees are fully aware of their job profile and expected results through intensive planning and organizing. Their involvement in the decision making process ensures that the hospital’s planning, budgeting and organizing considers the issues and concerns raised by the employees. Thus, an HR ensures that there is continuous involvement of stakeholders in the decision making process (Evans, 1990). Partnership: A hospital must ensure that there is proper planning, organizing and optimum utilization of the resources. Partnership is a way to hold the stakeholders and direct them towards a mon goal and objective of the organization (Evans, 1990). Finance: Employees need motivation in order to increase their work productivity which can be ensured through timely incentives and a properly defined salary structure for an employee. The salary package of an employee must be defined in advance so that he is aware about his benefits which may include education, medical, allowances etc (Evans, 1990). Education: Employees look for their career advancement and growth in an organization. Education would motivate them and would also help to increase the work productivity of a hospital (Evans, 1990). Policy: An organization must have effective policies to ensure discipline in the system. An employee must abide by the rules and regulations of an organization so as to align with the goals and objectives of the hospital (Evans, 1990). Thus, a sustainable framework can be ensured through following approaches: A sustainable HRM model would involve four steps which are as follows: Purpose: The purpose is analyse the current situation which can be done through various methods such as taking feedback from the stakeholders, reviewing the records and documents etc. In the case study, CEO must identify the key stakeholders first and then analyse the plete situation through the inputs received from the stakeholders (Savage, Fottler & Khatri, 2010). The process can be carried out through a meeting with the key stakeholders, reviewing the existing HR documents which can be collected from HR consultant and payroll manager. This would help in identifying the root cause of the problem (Savage, Fottler & Khatri, 2010). Purpose: Once the inputs have been received from the previous step, this step would define the actions required to be taken. This would be carried out through prioritizing the actions which are necessary in the current scenario. The planning would involve cost calculation for the implementation of those actions and the consequences the actions would have on the hospital (Savage, Fottler & Khatri, 2010). Purpose: The most critical part of building HRM model is the execution of the planned layout and most of the organizations fail at the execution level. Thus, a leader must ensure that the roles and responsibilities are properly allocated to the respective departments and employees so as to ensure that an effective implementation is being carried out (Savage, Fottler & Khatri, 2010). Thus, the phase would involve planning the execution though funding, allocating the responsibilities and budget planning for the action plan. Purpose: It is very important to measure the success of plan that has been executed and evaluate the process of implementation. Monitoring and controlling helps to determine the milestone achieved and helps in future planning (Savage, Fottler & Khatri, 2010). The process involves analyzing the key stakeholders who would decide the factors for monitoring and evaluating the execution. The roles and responsibilities of the employees must be clearly defined (Savage, Fottler & Khatri, 2010). Developing a sustainable business model for any organization is a challenging task and requires the contribution of all the stakeholders of an organization. But, once the framework is being developed, it would have great results in terms of employee mitment and improve the service quality of the hospital. Effective munication: munication helps in constant flow of information in an organization. An effective munication is required in an organization to keep the employees updated regarding their roles and responsibilities. The HR manager would ensure an effective munication in the organization (Zelles, 2012). Performance Management: Performance management must be evaluated on a regular basis in an organization. Effective HR policies would help to evaluate the performance of an employee (Niles, 2012). Employment Relations: An organization must ensure that the employees are satisfied with their job role to maintain employment relations. An HR manager acts as an intermediate between the organization and the employee to build trust and loyalty among the employees which helps to increase the work productivity (Zelles, 2012). Thus, a sustainable HRM Model is crucial for an organization to ensure employee mitment and quality services. The r mendations for the CEO of the hospital are as follows: The report has analyzed the case study and the measures required to be taken in order to devise a solution for the same. The discussion has involved the steps that CEO needs to consider to build a sustainable HRM Model for his hospital to improve the quality of the services. Most importantly, a sustainable model requires a great leader, HR management systems, effective HR policies and involvement of key stakeholders in the decision making process. Gardner, M & Palmer, G. (1997). Employment Relations:  Industrial Relations and Human Resource Management in Australia. Melbourne: Macmillan Education AU. Dressler, S. (2004). 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Organizations, People & Effective munication:  Most Good and Bad Consequences e Down to People and munication. US: UNIV READERS Holbeche, L & Matthews, G. (2012). Engaged:  Unleashing Your Organization's Potential Through Employee Engagement. US: Wiley. Zelles, R. (2012). Methodologies to measure and define Employee Engagement. Germany: GRIN Verlag. Bridger, E. (2014). Employee Engagement. London: Kogan Page Publishers. Macev, W.H., Schneider, B., Barbera, K.M., & Young, S.A. (2011). Employee Engagement:  Tools for Analysis, Practice, and petitive Advantage. London: John Wiley & Sons. Flynn, W.J., Mathis, R.L., Jackson, J.H., & Valentine,S.R. (2015). Healthcare Human Resource Management. US: Cengage Learning. Wolper, L.F. (2004). Health Care Administration:  Planning, Implementing, and Managing Organized Delivery Systems. Burlington: Jones & Bartlett Learning. Nick, G., Reinhold, G., & Valerie, I. (2005). Managing Health Services. UK: McGraw-Hill Education. Niles, N.J. (2012). Basic Concepts of Health Care Human Resource Management. Burlington: Jones & Bartlett Publishers.

Commercial Work Essay Example | Topics and Well Written Essays - 3000 words

Commercial Work - Essay Example As contracting can be seen to take place not only concerning allocation or the provision of goods and services. Reorganization or income maintenance programmes might be selected 'contracts' between politicians on the one hand and the populace on the other hand. One could make a peculiarity between true contracts and symbolic contracts here, as talking about some things as 'contracts' is simply using a metaphor. Contracts as fiction are characteristically indefinite, as it is far from clear that the contracting parties are, when the contract was in fact made and how it is being observed or monitored. Fictional contracts cannot be implemented by a third party. Classification of procurement is so diverse from the world of the models, and their consequent implications, used by economists in learning procurement contracting that two conclusions seem acceptable. The first is that there is substantial opportunity for optimal contract theory to contribute to better efficiency in defense procurement. The second is that the authenticities of defense procurement have significant implications for how economists must study contracting incentives and competence in defense procurement. Procurement comprises a wide variety of goods ranging from standard items such as uniforms and ammunition to major weapons systems whose acquisition might take ten to fifteen years to complete. Procurement of standard items is acquiescent to competitive bidding and fixed-price contracts, but competition and fixed-price contracts are less, and negotiated contracts more, proper for major weapons systems that are composite, involve yet-to-be-developed technologies, and have performance objectives that might be unattainable or impossible at reasonable cost. Particularly in the case of systems that entail research and development, the capability to anticipate future technological developments is limited, and even if the possibilities can be recognized, it may be impractical to offer contractual contingencies for all potential events. Understanding procurement process The complications of major weapons systems acquisition are replicated in the procurement process which comprises a series of stages commencing with defense preparedness planning, program outset, initial research and development, source selection, system development, production, and follow-ons (e.g., spares). The production and follow-on phases are the most acquiescent to economic modeling and analysis, but numerous of the determinants of program cost and weapons system performance have already been mostly decided by the time a production contract is negotiated. The subject of economic analysis thus must be on the larger procurement proces