Marketing of Roche Pharmaceutical Ltd Essay Example

Marketing of Roche Pharmaceutical Ltd Paper Introduction Company Background________ Today Bangladesh stands on the juncture of economic emancipation. The stage is set for rapid growth and development in every sector of the economy. Success lies in the ability to adapt with changing times. The Roche Group is a leading international healthcare company with principal businesses in pharmaceuticals, diagnostics and vitamins. The company is active in more than 150 countries and employs approximately 62,000 people worldwide. The Roche corporate headquarters are in Basel, Switzerland. Roche is committed to improving healthcare by discovering, developing, manufacturing and providing pharmaceutical products that enhance peoples health, well being and quality of life. Values of Roche Pharmaceuticals: †¢We will operate to high standards of safety and environmental protection. †¢We will protect and enhance the quality of our products through compliance with GMP and regulatory provisions. †¢We will actively market our resources and business capabilities building upon a total commitment to customer service. We will sustain cost competitiveness through continuous improvement in systems, processes and personal development. †¢Effective team working in a climate of mutual trust and respect will be the hallmark of our success. †¢Initiative, creativity, flexibility and honest endeavor in achieving our goals will be expected and recognized. Global Presence of Roche: Group Headquarters: The Roche Group incorporates all those companies that are wholly owned by Roche Holding Ltd, Basel, or in which it has a majority interest. We will write a custom essay sample on Marketing of Roche Pharmaceutical Ltd specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing of Roche Pharmaceutical Ltd specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing of Roche Pharmaceutical Ltd specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Group management Group Headquarters is based in Basel, Switzerland. Contact opportunity F. Hoffmann-La Roche Ltd Group Headquarters Grenzacherstrasse 124 CH-4070 Basel Switzerland Telephone +41-61-688 1111 Telefax +41-61-691 9391 Email Corporate Webmaster Divisional Headquarters: Separate organizational units run Roche’s three divisions -Pharmaceuticals Division, Diagnostics Division, Vitamins and Fine Chemicals Division with headquarters in the Basel area. Contact opportunity Pharmaceuticals Division Prescription Products, Research Development F. Hoffmann-La Roche Ltd Pharmaceuticals Division Grenzacherstrasse 124 CH-4070 Basel Switzerland Telephone +41-61-688 1111 Telefax +41-61-691 9391 Email Pharma (Rx) Webmaster Roche in Bangladesh: Hoffmann-La Roche Ltd. 22/A Dhanmondi Residential Area Road No. 2 Dhaka 1205 Bangladesh Tel +880-2-966 1774 Fax +880-2-861 3588 a) Origin of Report As a part of our marketing course [MKT-201] we have assigned by our course instructor Raeya L. Yousuf to prepare a report in the view of a marketer of multinational company based on their marketing strategies. ) Purpose or Objective of report In broader sense we are going to prepare this report to fulfill two of our main objectives: First, primary purpose and second, secondary purpose. †¢Primary objective: We are preparing this report as a part of our marketing course, MKT-201. Secondary objective: The secondary purpose of preparing this report is to know the company’s status in the global market, company’s marketing strategies, and also to learn something out of this report, which can be helpful for our future as we are trained to become an efficient business executive. ) Sources of Information Collection of information is always a vital part to make a report. Because a report would be efficient only when the quality and sufficient data and information can be collected. We can collect data and information in two ways: †¢Primary source: When we collect information from the company’s employees interacting directly through interviews, questionnaire, survey, or by phone call. †¢Secondary source: We may collect our necessary information through the company’s brochures, leaflets, and papers, Internet etc. d) Methodology of Study The study will be done on the basis of primary and secondary data collection from the Roche pharmaceuticals ltd. The study is mainly based on qualitative information extracted from various published reports, documents, and brochures of the company. Beside this qualitative information we will analyze the findings based on various statements of the company to find qualitative data, which in later would use to do some financial analysis of the organization. e) Scope of Report The scope of the report is to identify the basic marketing functions observed in the Roche pharmaceuticals Limited. It is an organization that is committed to provide high standards of safety and environmental protection. Roche is also committed to improving healthcare by discovering, developing, manufacturing and providing pharmaceutical products that enhance peoples health, well being and quality of life. This report deals with primary marketing activities performed for the excellence of the organization. The areas would be focused in the report are like the following: †¢The management of the products and services of Roche. †¢The process of segmentation, Targeting and positioning for its offerings. The analysis of its customers along with the life cycle strategies of its services. †¢The overall pricing strategies and tactics followed by the company. †¢The promotional strategies performed by the organization. †¢An intricate analysis of strengths and weaknesses of the firm in comparison to its competitors. †¢Finally, based on the analysis, this report goes beyond the boundary of the objectives and states few recommendations to add luster with the organization’s present management of the delicate marketing efforts. ) Limitations Our report on marketing activities of Roche – A study on Roche pharmaceuticals ltd. is mainly based on qualitative data. For this reason there would not much scope for us to analyze company’s qualitative profiles or financial aspects. This report is not a performance of professional and expert hands. So it may not represent critical analysis of the comparative success of the Roche pharmaceuticals marketing management. It only states the ongoing facts and features of its marketing management. Moreover, due to lack of proper information, we might not focus on the areas of Marketing Research and Information and Product Development Strategies. These two aspects are the integral parts of overall marketing management. 1. Company Information: OUR HISTORY: The early years The founder of Roche, Fritz Hoffmann-La Roche, was a pioneering entrepreneur who was convinced that the future belonged to branded pharmaceutical products. He was among the first to recognize that the industrial manufacture of standardized medicines would be a major advance in the fight against disease. This led him to found F. Hoffmann-La Roche Co. on October 1st 1896. From the very beginning, Fritz Hoffmann attached great importance to product information as the link between the pharmaceutical manufacturer and doctors, pharmacists and patients. Shortly after the foundation of the company, affiliates were opened in Germany, Italy, France, the US, Great Britain and Russia. Since then, Roche has grown into one of the worlds leading healthcare companies and one of the most important in Europe. Roche was founded at a time when the Industrial Revolution was changing the face of Europe. A time, rich of inventions, social advances and progress in medical science and a trend towards meeting the needs of a global healthcare market demanded market. Upon this background, Fritz Hoffmann-La Roche realized his plans for the industrial manufacture of drugs of uniform strength and quality. The Hoffmann Era 1896Foundation of F. Hoffmann-La Roche CoOn October 1, 1896, Fritz Hoffmann-La Roche founds F. Hoffmann-La Roche Co as the successor company to Hoffmann, Traub Co. The business premises are located at the upper end of the Grenzacherstrasse, on a piece of land overlooking the Rhine. 896Product introduction: Aiodin, thyroid preparationAiodin is the earliest in a series of thyroid preparations which uses the presence of iodine in thyroid extracts. 1896Product introduction: Airol, wound antisepticThe wound antiseptic Airol, originally developed in the laboratories of Hoffmann, Traub Co, is launched. The young company has high hopes for this product on the German market. 1897Subsidiaries in Grenzach (Germany) and Milan (Italy)The company buys land in the nearby German farming community of Grenzach where Airol, an antiseptic wound-healing powder, and Sirolin, a cough syrup, are going to be produced. 898Product introduction: Sirolin, non-prescription cough syrupA non-prescription cough syrup, Sirolin contains Roches own Thiocol as its active ingredient. The syrups orange flavour makes it an almost immediate success. Under the tradename Sirolin, the syrup is marketed for over 60 years. 1903Subsidiary in Paris (France) 1904Product introduction: Digalen, purified digitalis preparationAs a pure, standardised digitalis preparation containing all the cardiac glycosides of the purple fox-glove leaf, Digalen proves to meet high medical demand. Digalen remains on the market until 1964. 905First subsidiary in New York CityHoffmann-La Roche Chemical Works Inc. are established in New York City as Roches first offices in the US. 1908Subsidiary in London 1909Product introduction: Pantopon, remedy for pain, colic, spasms, cough, anxiety and excitation statesPantopon is a remedy for pain, colic, spasms, cough and anxiety and excitation states. It contains all the opium alkaloids in a standardised form free of inert material. Pantopon is still sold in a few countries, making it Roches longest-selling product. 1910First subsidiary in Russia (St. Petersburg, until 1919)The agency in St. Petersburg becomes a subsidiary. During the pre-war years tsarist Russia, where Roche also has agents in Moscow, Odessa, Rostov and Kazan, will grow into the companys most important market. 1919Transformation of Roche into a limited companyThe German boycott of Roche products, Basels isolation from its Grenzach plant, the loss of companys Russian market and assets in the Revolution of 1917 and sizeable foreign exchange losses have created a financial crisis. Based on this, Roche is transformed into a limited company. 1920Death of Fritz HoffmannFritz Hoffmann dies on April 18, 1920. Roche loses a dynamic entrepreneur and a striking individual. OUR HISTORY: The New Millennium: Sharpening our focus With the start of the new millennium, Roche has consistently continued its focusing strategy to be prepared for future growth. The alliance with Chugai in Japan, creating a leading research driven pharmaceutical company, creates a very good foothold in todays second largest healthcare market. The acquisition of Amira by Roche Diagnostics and the announced separation of the Vitamins business reflect our concentration on our core pharmaceuticals and diagnostics businesses. We intend to continue developing innovative and cost-effective solutions in prevention, diagnosis and drug therapy to the ultimate benefit of patients. Era of Franz B. Humer 2001Inauguration of production plant for citric acid in ChinaEmploying the newest technology, the facility will supply Chinas domestic market and is also going to export a significant proportion of its production to Asia-Pacific markets. 2001BZ Group sell stake in Roche to Novartis20% of Roche bearer shares, representing around 3. 7% of issued Roche securities (bearer shares and non-voting equity securities combined) are sold to Basels Novartis. For Roche, the current majority holding remains unaffected. 2001Product introduction: Pegasys, hepatitis C treatmentPegasys, a pegylated interferon, is introduced for the treatment of chronic hepatitis C. 2001Acquisition: Amira MedicalAmira Medical, a privately-held corporation active in the diabetes monitoring business, is acquired to complement Roche Diagnostics expertise in the blood glucose monitoring sector. 2001Alliance: Roche and Chugai create new Japanese pharma leader with global accessRoche and Chugai enter into an alliance to create a leading research driven Japanese pharmaceutical company. The new enterprise formed by the merger of Nippon Roche and Chugai and named Chugai Pharmaceutical Co. , Ltd. will be the 5th largest pharmaceuticals company in the worlds second largest pharma market. The alliance is confirmed at Chugais annual general meeting on June 27, 2002. OUR AIM IN HEALTHCARE: Market positioning Founded in 1896 in Basel, Switzerland, Roche has grown from a small drug laboratory into one of the worlds leading research-based healthcare companies active in more than 150 countries. Roche products and services address prevention, diagnosis and treatment of disease, thus enhancing well being and quality of life. Today we rank among the top pharmaceutical companies in the world and are known internationally for our many innovative contributions to medicine. Globally, we are number one in diagnostics, covering all fields of medical testing. Our Vitamins and Fine Chemicals Division is the global leader in its industry. Roche has been committed from the start to advancing the quality of healthcare. The development of integrated packages teaming complementary diagnostic and therapeutic products and services is just one current example of our undiminished pioneering spirit. We firmly believe that we can best meet our responsibilities to society today and in the future by making innovative contributions to healthcare and providing excellence in the service of health. OUR AIM IN HEALTHCARE: Divisions: Three separate divisional entities are responsible for our world-wide activities in the market place Pharmaceuticals Division, Diagnostics Division, Vitamins and Fine Chemicals Division. Pharmaceuticals Division When Fritz Hoffmann founded F. Hoffmann-La Roche Co. in 1896, he realised what was then a revolutionary idea producing medicines on an industrial scale outside the pharmacy and selling them on the international market. Innovation has been one of Roches hallmarks ever since, and many of our pharmaceutical products have become milestones in drug therapy. Upon these products we built our present world leadership in the hospital pharmacy market. Our portfolio of brands of self-medication products is meeting the growing demand for non-prescription (OTC) remedies. Roche Consumer Health addresses the needs of a healthy lifestyle, protection against environmental stress factors and self-medication for minor complaints. At Roche, we view continuous innovation as the most promising way bring new medicines to the patient. Looking to the future, our long-standing expertise in medicinal chemistry and biotechnology has put us in an excellent position to exploit the huge potential of molecular medicine. Diagnostics Division Roche is the worlds number one diagnostics company, offering a wide range of products and services in all fields of medical testing. We have a unique capacity in people and technology to provide innovative, cost-effective, timely and reliable solutions in biomedical research, laboratory diagnostics and patient self-monitoring. All over the world, we are dedicated to working with our customers researchers, clinicians and patients to help them meet their individual needs. It has been said there is not a laboratory in the world that does not contain one of our diagnostic products. Vitamins and Fine Chemicals Division Since pioneering the industrial synthesis of vitamin C in 1934, Roche has been a key large-scale manufacturer of vitamins. Today, the Roche Vitamins and Fine Chemicals Division offers a wide range of products to help improve nutrition and prevent and treat disease. We research, produce and market vitamins, carotenoids (nature-identical pigments), citric acid and other active ingredients as well as additives for use in the animal feed, food, pharmaceutical and cosmetics industries. We have a strong commitment to research and development as a way of continuously improving our products and production processes. This commitment has made us the worlds biggest producer of vitamins and carotenoids after nature itself. Personnel Figures reported in the financial statements Figures reported on an adjusted basis a) 20012000%change20012000%change Number of employees at 31 December63,71764,758-263,71764,758-2 Ratios Figures reported in the financial statements Figures reported on an adjusted basis a) 2001200020012000 EBITDA as % of sales22392726 Operating profit as % of sales11251616 Net income as % of sales13301618 Research and development as % of sales13141314 Data on shares and non-voting equity securities (in CHF) c) Figures reported in the financial statements Figures reported on an adjusted basis a) 2001200020012000 Earnings per share and non-voting equity security (diluted)4. 3710. 245. 665. 96 Dividend per share and non-voting equity security d)1. 301. 151. 301. 15 c) Number of shares and all per share information is restated for the 100 for 1 share split that took place on 4 May 2001. d) Dividend 2001 as proposed by the Board of Directors. Sales by Division in millions of CHF e) Full Year 2001 e)Share in % Pharmaceuticals18,72364 Diagnostics6,90024 Vitamins and Fine Chemicals3,54012 Sales Roche Group29,163100 e) On an adjusted basis. Sales by Region in millions of CHF Full Year 2001Share in % Europe10,79537 North America11,26438 Latin Americaq2,82710 Asia3,41812 Others8593 Roche Group29,163100 Employees by Division Year-end 2001Share in % Pharmaceuticals39,49261 Diagnostics16,34524 Vitamins and Fine Chemicals7,49412 Others3861 Roche Group63,717100 Employees by Region Year-end 2001Share in % Europe31,84850 North America17,35927 Latin America5,6559 Asia7,13311 Others1,7223 Roche Group63,717100 Key figures of 2001 Key Figures in millions of CHF Figures reported in the financial statements Figures reported on an adjusted basis a) 20012000%change20012000%change Sales29,16328,672+229,16327,543+6 EBITDA b)6,43811,126-427,7887,068+10 Operating Profit3,2477,131-544,7844,301+11 Net Income3,6978,647-574,7995,014-4 Research and development3,8933,950-13,8933,919-1 Additions to property, plant and equipment1,9312,183-121,9312,115-9 a) The adjusted figures, which are used in the internal management of the Roche Group, represent the results of the Groups underlying on-going operations. They exclude special items and include only the continuing businesses. See in the Annual Report for a full description and reconciliation. b) EBITDA: earnings before interest and other financial income, tax, depreciation and amortization including impairment. This corresponds to operating profit before depreciation and amortization, including impairment. 2. Situational Analysis: It is always difficult to analyze the situation of any company. Because a company hardly disclose it’s internal situation and it is also very complicated to have enough data and information to predict a company’s SWOT analysis. Here we discuss the SWOT of the Roche pharmaceuticals: a:)SWOT: â€Å"To see things as they are, the eyes must be open; to see things as other than they are, they must be open even wider; to see things as better than they are, they must be open to the full. -Antonio Machado Juan de Mariena 1945 Over the past more than hundred years F. Hoffmann-La Roche Co. have worked towards building a strong foundation and establishing a professional corporate development, Roche pharmaceuticals says that they are the recognized leader; respected for its achievements, professional ethnics and innovative concepts. The qualitative factors are qualified on the basis of different statistical scale. A primary survey is being done by us which is the best applicable to quantify the qualitative factors with the help of a survey paper. We have only talked with the management bodies of Roche pharmaceuticals. For time constraint we could not do the primary survey among the customers but the dealers or pharmacies. Solely based on their judgment we have developed our SWOT analysis. We analyzed this competitive environment by a questionnaire. SWOT ANALYSIS Factors Roche Pharmaceuticals Ltd. STRENGTHInternal within the organization (short-term) and also external Market Share†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 20% (international), 12% (local) Quality†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Highly qualitative Technology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ High Technology Risk censorship†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. All departments are self-dependent Technical Expert†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ It has highly trained technical expertise. Goodwill†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Strong goodwill. Management It follows very active management system Investment . . . . . . . . . . . . . . It could feel proud because of its huge capital Labor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Highly skilled labor Relationship . . . . . . . . . . . . It always concern about the relationship of its internal and external parties R . It has a rich research and development department Contribution . . . . . . . . . . . . . Its contribution in life saving drugs is considerable Innovation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Frequent innovation in healthcare WEAKNESS: Internal external Cost†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. High product cost because of quality Advertising†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Fewer medium uses for advertising Local market . Fail to compete with the local competitors Economies of scale†¦ If it were possible to operate in economic of scale, the firm would have earned more profit than it does presently. OPPORTUNITIES: Internal within the organization R D .. R D makes the company to produce innovative products Products .. Its rich product variation helps it to capture the market Status symbol†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Buying products of this company people feel ensure of the quality Career facilities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. It provides different types of job facilities. Education.. It facilitate education for its employees to be efficient THREATS: External to the organization Intense competition†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Noverties, Aventis and Square pharmaceuticals are the Potential market competitors globally and locally who had been Operating their business in the pharmaceuticals field. Increased brand loyalty†¦Ã¢â‚¬ ¦ Customers are more in linked to the market leaders of the industry. b)) Industry Analysis: PHARMACEUTICALS BUSINESS IN BANGLADESH: An overview analysis The main emphasis of this report has been laid on the Roche pharmaceutical’s managing marketing activities. But now we will focus on the pharmaceutical industries in Bangladesh. How much the industry is success in our country? We have done a macro analysis from this point of view. We have observed that the main advantage of pharmaceutical finding in Bangladesh is that the companies always get the government financial incentives and any other facilities it require to continue its research and development in healthcare and saving lives and also to compete with the international competitors. However, always there exists an uncertainty centering the expected sales proceed. Another thing that we have observed from our survey in pharmacies is that Indian low quality medicine comes to our country in illegal way. It makes the pharmaceuticals companies a great problem in a away that as Indian medicine are low quality, price is also low therefore the people mostly in suburban area who are in middle-income or low-income group influence to buy this medicine. Which are very risky and sensitive to make the disease worsening even sometimes it becomes a question of life. This type of poorly managed operation may risk our customers confidence and therefore the government should regulate the pharmaceutical industry as it is very much sensitive. The quality control aspect of the pharmaceutical business should also be monitored strictly and honestly by authorized private or public sector enterprises. Another good thing that we discover is there is a strong competition among the medicine companies in our country, the benefit of this completion is we are getting medicine at a lower price and higher quality. The main problem of our pharmaceutical industry is non-availability of infrastructure facilities like gas, water, electricity supply, sewerage disposal and road transport facilities. Very high interest rate of bank loan around 11% to 15% as compared to 3% to 5% in other developing countries like India, Srilanka, may be considered one of the main problem of pharmaceutical industry in Bangladesh. SUGGESTION ON PHARMACEUTICALS INDUSTRY: As a rapid growing industry of Bangladesh, pharmaceutical sector should have top government priority. The government must develop all the infrastructure and other facilities for the pharmaceutical industry. Rules and regulations of providing loan should be eased so that every company in this industry can avail such facilities at a lower interest rate. The legal system needs to be strengthening to deal the default culture of using the poisonous medicine and injections. The government should encourage the pharmaceutical companies to build their factory out side of Dhaka, so that the serious pollution can not affect the people. c) Competitors: A company could be successful in its business only if it provides greater customer value and satisfaction than its competitors. And we are successful in this area only because we give our highest concern to our customers need that means we always try to keep our price lower than our competitors do without any compromise with quality. We are leader in pharmaceutical business because our marketers provide more than simply adapt to the needs of target markets and another reason is that they get the strategic advantage by positioning our strong offerings against competitors offers in the minds of the consumers. Our international competitors are ( Aventis and Fisons) and local competitors are ( Square pharmaceuticals Ltd. Beximco pharmaceuticals, A. C. I. , Novertis). d)Customer Analysis (customer characteristics / profile): Here we are going to analyze the individuals and households who buy goods and services for personal consumption. All these final consumers make the customer market. Consumers around the world vary tremendously in age, culture, religion, sociality, income, education level, and tastes. Also the consumers’ personal factors and psychological factors influence their buying behavior. And they purchase an incredible variety of goods and services. Therefore, the buying behavior of the consumers differ greatly in different culture, or region in the world or even in a country. High involvement Low involvement Significant differences Between brands Few differences Between brands Figure: Four types of buying behavior. Among the four buying behavior our targeted customer fall in the habitual buying behavior, as the customers buy medicine by low involvement and they are not very much concern about the brand name of the pharmaceuticals company so, we can see in the diagram that our customers are in habitual buying behavior. . Market-Product Focus: a. Target Market: For a company to target a market has to go through some factors. First, they have to analyze and evaluate the different market segments, if it is a question of international market then different country’s market should consider and if it is a matter of local market then different groups’ needs and wants should consider. Second, a company must think about the market size and growth. Third, Companies who are in global market, have to think of different country’s culture, demographic and political situation, and economic position. After evaluating different segments, the company must then decide which and how many segments they will take to serve profitably and cost effectively. As our selected product, Demadex is a hurt disease relief tablet our target market should be aged people but as the doctors prescribe and pharmacies sales the medicine so, our main target markets are pharmacies and doctors so that they can influence the final consumers. b. Points of Difference (characteristics that make the product / organization unique relative to competitors): There is no any single marketing strategy that fit best for all pharmaceutical companies. A perfect marketing strategies for a company depends on that company’s size of capital, market share, areas of activities, company position in the mind of consumers compared to those of its competitors. Therefore, our research and development department with dominant company position in the industry, develop strategies in marketing policy, pricing policy and in other areas considering the above-mentioned factors that make our company unique relative to other competitors. Positioning: As we know that a product’s position is the place the product occupies relative to competitors in consumers’ minds. If a product is perceived to be exactly like another product on the market, consumers would have no reason to buy it. It also means a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Founded in 1896 in Basel, Switzerland, Roche has grown from a small drug laboratory into one of the worlds leading research-based healthcare companies active in more than 150 countries. Roche products and services address prevention, diagnosis and treatment of disease, thus enhancing well-being and quality of life. Today we rank among the top pharmaceutical companies in the world and are known internationally for our many innovative contributions to medicine. Globally, we are number one in diagnostics, covering all fields of medical testing. Our Vitamins and Fine Chemicals Division is the global leader in its industry. Roche has been committed from the start to advancing the quality of healthcare. The development of integrated packages teaming complementary diagnostic and therapeutic products and services is just one current example of our undiminished pioneering spirit. We firmly believe that we can best meet our responsibilities to society today and in the future by making innovative contributions to healthcare and providing excellence in the service of health. d) Managing Marketing Activities: Success lies in the ability to adapt with changing times. That is something that the company learnt over the past years. The company also learnt to anticipate that change and mould their services to meet the needs of their valuable clients. Before a product is manufactured, the usual procedure is to study the potential market or customer demanding order to do the size planning which is necessary for the efficient operation of the enterprise. Marketing is the term applied to the processes of distributing goods from the producer to the ultimate user. As we know that Roche pharmaceutical’s main focus is providing healthcare and save lives therefore, its managing marketing is so important. Marketing Research The purpose of Roche pharmaceuticals marketing research is to determine, through the application of the scientific method, what to produce, who the potential buyers are, where those buyers are located, how much to produce, how to sell, and when to sell in order to maximize the service render and net profits earned. Product Analysis: The purpose of product analysis is to determine customer preferences with respect to a product. This analysis will enable management to develop new product that will meet the needs and desire of potential customers, to improve present products and make them more acceptable than those of competitors, to simplify product line by eliminating those, which have a limited demand. Product Feature: Roche pharmaceuticals Ltd. is one of the pioneers in the field of pharmaceuticals industries all over the world and also has an own identity and trademark company in Bangladesh. This company’ s logo named â€Å"Roche pharmaceuticals† is a main product feature and competitive tool for differentiating the company’s product from competitors’ product. Market Analysis: The purpose of the market analysis is to determine the location, volume, and buying habits of the individuals or groups that make up the potential market for Roche pharmaceuticals. (For Roche pharmaceuticals market analysis we added a checklist with the recommendation. ) Roche pharmaceutical is not only the market leader; they are the market flowers in the field of pharmaceuticals industries too. The quality of medicine that Roche pharmaceuticals provide compared to other pharmaceuticals is better. For the reason Roche pharmaceuticals has a strong goodwill. Their customers know that they provide the best quality medicine. Its customers are hard core loyal. And Roche pharmaceuticals never compromises with the quality. Their main focus is selling of the products and services. It is their main focus because for business or social service or shelter. They concentrate customers’ needs and choice for healthcare is being constructed in different areas, like, pharmaceuticals, diagnostics, vitamins etc. In this manner the products is being made as customer demands. Roche pharmaceutical is totally professional outfit. The organizational strength comes from a dedicated workforce. The team has some of the best planners, biochemist scientists, financial experts and marketing professionals. Each area of work is departmentalized on a purely functional basis and each directed to achieve qualitative superiority. So, for planning the business-managing director, researchers, marketing managers, and financial experts are responsible. Roche pharmaceuticals generate marketing planning report based on the various location, location demand, location size, and buying capacity of the particular people or group. The company, Roche pharmaceuticals, is poised to embark on challenging projects in the new millennium. Several joint venture projects are being negotiated with foreign companies for the lateral expansion of the medicine. Roche pharmaceutical is poised for a new phase of dynamic growth. Their human resource is well trained and motivated; their financial fundamentals are strong and they have an excellent goodwill in the market. Their vision is to constantly set challenging goals for theirselves. They will continue to xpand and diversify and be an example of a progressive company playing a dynamic roll in the economic development of Bangladesh. The promotional elements that are going to be implemented by Roche pharmaceutical is mainly advertising, sales promotion and public relations. But the importance of the promotional elements depends on their different target group. As we know Roche pharmaceutical’s main customers are individual buyers but their target markets are doctors and pharmacies. The company also uses product brochure, newsletter and leaflet as to promote their products. The company maintains quality level, product design and development, product feature, and the best one brand name. The company has the special brand name that makes the company different from the others. The company gives customers warranty about their quality product. Under the product classifications Roche pharmaceutical’s product falls in convenience product. Convenience product is consumer products and services with characteristics that the customers usually buys frequently, immediately, and with a minimum of comparison and buying effort. 4. Marketing Program: Figure: The Four Ps of Marketing mix. a. Product: Our product pipeline is a uniquely broad spectrum of innovative solutions for healthcare needs of the future. Projects address all stages of prevention, diagnosis and treatment of disease as well as well being to enhance quality of life. †¢Product Mix: An organization with several product lines has a product mix. A product mix consists of all the product lines and items that a particular seller offers for sale. A company’s product mix has four important dimensions: width, length, depth and consistency. Product mix width refers to the numbers of ifferent product lines the company carries. Product mix length refers to the total number of items the company carries within its product lines. Product line depth refers to the number of versions offered of each product in the line. Finally, the consistency of the product mix refers to how closely relate the various product lines are in end use, production requirements, distribution channels or some other way. Roche discovers, develops, manufactures and markets numerous important prescription drugs that enhance peoples health, well-being and quality of life. Among the company’s areas of therapeutic interest are: dermatology; genitourinary disease; infectious diseases, including influenza; inflammation, including arthritis and osteoporosis; metabolic diseases, including obesity and diabetes; neurology; oncology; transplantation; vascular diseases; and virology, including HIV/AIDS and hepatitis C. Here we give the diagram of our company’s product mix: Product Mix Width Tablets CapsulesSyrup DropsInjections Dormicum Furtulon Herceptin Xeloda Activase NeoRecormon Lexotan Rocephin Roferon-A Valcyte Zenapax Herceptin CellCept XenicalLibrium Redoxon †¢Product Levels: A product is more than a simple set of tangible features consumers tends to see products as complex bundles of benefits that satisfy their needs. When developing products, marketers first must identify the core consumer needs the product will satisfy. They must then design the actual product and find ways to augment it in order to create the bundle of benefits that will best satisfy consumers. Considering pharmaceuticals products that means medicine the core product is to give the relief from diseases and as we are concern about the medicine Demadex our core product is to give relief from the heart disease. The actual products of our product are ?The medicine (tablets) ?Capital ?Biochemical scientists ?Brand name ?Quality level ?Design ?Attractive packaging ?Management system The augmented products of our product are: ?Longevity ?Superb working capability ?Quick solubleness ?Latest gene research quality product ?Style Augmented Product Actual Product Core Product Figure: Product levels of Demadex tablets. †¢Packaging: Traditionally, the primary function of the package was to contain and protect the product. But in recent times, numerous factors have made packaging an important marketing tool. The packages must now perform many sales tasks from attracting attention, to describing the product, to make the sale the company are realizing the power of good packaging to create constant consumer recognition of the company or brand. Packaging involves designing and producing the primary packaging in which the package hold the product and the secondary that is in which the package hold the primary package. Innovative packaging can give a company an advantage over competitors in contrast; poorly designed packages can cause headaches for consumers and lost sales for the company. So developing a good package of the company’s existing and new products require making many decisions. First, the company must establish the packaging concept, which states that the package should be or do for the product. Should it mainly offer product protection, introduce any dispensing method; suggest certain quality about the product or something else? So from our survey we have seen the primary package of our product Demadex is covered by foil paper, which is kept airtight. And the secondary cardboard package that keeps the primary package is made by cardboard box. The size and shape of the primary package is such which contain six tablets each and the colour text and brand mark is such that attract attention of the customers and describe our product quality. That ultimately makes our company specially the product leader in this field. †¢Product portfolio: This document outlines the Roche product development portfolio including new molecular entities and major line extensions. The portfolio will change with time as compounds enter from research, progress through to the next phase of development or enter the market place. The high risk nature of the drug development process also means that it is not unusual for some projects to be terminated if they do not meet the criteria for progression and this will be particularly true in the early stages. Current Portfolio selection of major products Below list of major prescription products contain both the generic name as well as the area of indication. Therapeutic AreaProduct Brand Name / Main IndicationIndication Anesthesia and sedationDormicum/Versed midazolam CancerFurtulon doxifluridineCancer of the colon Herceptin trastuzumabBreast cancer Kytril granisetron hydrochlorideCancer Mabthera/Rituxan rituximabNon-Hodgkins lymphoma Roferon-A interferon alfa-2aCancer Xeloda capecitabineBreast cancer Cardiovascular diseasesActivase alteplaseHeart attack, pulmonary embolism, stroke Dilatrend carvedilolHigh blood pressure, angina pectoris and chronic heart failure NeoRecormon epoetin betaAnemia Rapilysin reteplaseHeart attack Central nervous systemLexotan bromazepamAnxiety and tension states DermatologyRoaccutan/Accutane isotretinoinSevere acne InfectionsRocephin ceftriaxone Infectious diseasesCymevene/Cytovene ganciclovirCytomegalovirus infection in immunocompromised patients Fortovase and Invirase saquinavirHIV Pegasys peg-interferon alfa-2a (40KD)Hepatitis C Roferon-A interferon alfa-2aHepatitis B and C Tamiflu oseltamivirInfluenza Valcyte valganciclovirHIV, Cytomegalovirus infection in immunocompromised patients Viracept nelfinavirHIV Inflammatory and autoimmune diseasesMadopar levodopa+benserazideParkinsons disease Nutropin/Protropin somatropin/somatremGrowth hormone deficiency Pulmozyme dornase alphaCystic fibrosis Metabolic disordersRocaltrol calcitriolOsteoporosis Xenical orlistatObesity TransplantationCellCept mycophenolate mofetilPrevention of acute rejection Zenapax daclizumabPrevention of acute rejection Roche Pharmaceuticals a tradition of innovation 2001Pegasys (peg-interferon alfa-2a 40KD), for hepatitis C; Valcyte (valganciclovir), for AIDS-related CMV retinitis 2000Kytril (granisetron hydrochloride), for cancer 1999Herceptin (trastuzumab), for breast cancer; Tamiflu (oseltamivir), the first oral flu medicine 1998Fortovase (saquinavir), anti-AIDS drug; Viracept (nelfinavir), anti-AIDS drug; Xeloda (capecitabine), anticancer drug; Xenical (orlistat), for treating obesity; Zenapax (daclizumab), immunosuppressant 1997Mabthera (rituximab), anticancer drug 995CellCept (mycophenolate mofetil), immunosuppressant; Invirase (saquinavir), anti-AIDS drug; Aleve (naproxen sodium), OTC analgesic 1993Pulmozyme (dornase alpha), for treating cystic fibrosis 1992Hivid (zalcitabine), anti-AIDS drug 1990Aurorix (moclobemide), antidepressant; Inhibace (cilazapril), ACE inhibitor 1987Anexate (flumazenil), benzodiazepine antagonist 1986Roferon-A (interferon alfa-2a), Roches first genetically engineered product 1982Rocephin (ceftriaxone), antibiotic; Roaccutan (isotretinoine), treatment for severe acne; Dormicum (midazolam), sedative/ hypnotic 1971Fansidar (sulfadoxine+pyrimethamine), antimalerial 970/73Larodopa (levodopa) and Madopar (levodopa+benserazide), the first products for Parkinsons disease 1969Bactrim Roche (trimethoprim+sulfamethoxazole), anti-infective 1963Valium Roche (diazepam), the most important benzodiazepine owing to its broad spectrum of action 1962Fluoro-uracil Roche (fluoro uracil), Roches first anticancer drug 1960Librium (chlordiazepoxide), the first benzodiazepine psychotropic 1952Rimifon (isoniazid), antituberculosis agent 934Redoxon (ascorbic acid), the first vitamin C preparation 1922Allonal (allylisopropylbarbituric acid), analgesic and tranquilliser 1898Sirolin (thiocol), cough syrup . The Boston Consulting Group Approach: Using the BCG approach a company can classify all its SBUs according to the growth share matrix. High Market growth rate Low High Low Relative market share b. Price: Roche is very proud of the steps the company has taken to considerably reduce the cost of combination therapy for the millions of people chronically infected with heart diseases, said George B. Abercrombie, Roche President and Chief Executive Officer. With Demadex and Pegasys, physicians and patients can have confidence knowing that this therapy is backed by an unparalleled development programthe most extensive ever conducted in heart diseases. A Visible Difference in Price Roche has rolled back the list price or wholesale acquisition cost of Demadex to that of branded ribavirin in August 2002. For patients prescribed 1200mg of ribavirin per day, there is a list price or wholesale acquisition cost savings with Demadex of approximately Tk. ,600 for 48 weeks of therapy. Pricing policy for Roche pharmaceuticals: The pricing objective for Roche pharmaceuticals is market penetration; though Roche pharmaceutical is not the first one into the market under the pharmaceuticals industries in Bangladesh. For Roche pharmaceuticals the underlying objective behind the pricing is increasing the share of the market. The demand for Roche pharmaceuticals is the matter label of the PLC. So, the company needs to hold on to their present customers as well as new customer in order to remain profitable. To attract new customer the company could undertake price-cutting to increase the demand. Pricing strategy and action plan: Roche pharmaceuticals is not the market leader as it is holding 12% of total market share. The selling rate of Roche pharmaceuticals’ is in the matter level of product life cycle. But the question comes if Roche pharmaceuticals reduce their price how the customer would perceive it? There is a possibility that customer will relate the price reduction with decline product quality. In order to prevent this situation Roche pharmaceuticals has to convince their customers that their price reduction result from a better utilization of the resource. This message would be conveyed to the customer through personal contact. The pricing strategy should be cost-based pricing or completion-based pricing. That means they should first conduct research to find out the perceived value of the product by the consumers. The producer need to find out how much consumer are willing to pay for the benefit that Roche pharmaceuticals provide with the medicine. Points that are consider in determining the price level of Roche pharmaceuticals are the following: †¢Fixed cost†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦(60%) †¢Variable cost†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦(30%) †¢Mark-up†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦(10%) Contingency plan: Currently though we are not market leader in Bangladesh but enjoying better technological advantage about the quality supplier, raw materials composition and skill labor. Which in turn result the better quality product than our competitors. This message has already be communicated to the customer or our target market. c. Promotion: Promotional strategy Companies must do more than make good product item they have to inform consumers about product benefits and carefully position products in consumer’s minds. To do this, they must skill fully employ four mass-promotion tools in addition to personal selling, which targets specific buyers: sales promotion, publicity advertising and public relations. Sales promotion, including both personal selling and advertising, must be coordinated with the sales program of the company if it is to be effective in assisting the sales force in selling the products. The purpose of personal selling and advertising is to increase the acceptability of the company and its product by potential buyer and to create in him a desire for the product. The Roche pharmaceutical’s desire and acceptability is more economically obtained through personal selling and advertising then through direct sells contact. Personal selling personal sellers may also define as the representatives of the company. They are used to sell the company’s product by personally or directly to the dealers or final consumers. Now a days this type of culture is growing in our country. Specially for pharmaceuticals companies, they market or sales their most of the product by their representatives. And even, some companies have the representatives in all the districts of the country Advertising may be defined as the man’s disseminating information concerning the company and it’s product to the public at large, or a segment thereof, through various channels of communication, at the expenses of the advertiser for the purpose of creating and interest in and desire for the product of the company. Roche pharmaceuticals spent a large amount of money in advertising. Advertising against, buying motivates and advertising appeals, advertising media, etc. is the part of the advertising of Roche pharmaceuticals. Public relations gaining favorable publicity and creating a favorable company image. Roche pharmaceuticals use public relations to communicate with their publics by setting public relations objectives. Public relation is used to promote products, people, place, ideas, and activities. d. Place: Place includes company activities that make the product available to target consumers. To make the products available to the consumer at convenient place Roche pharmaceuticals maintain their dealers or representatives so carefully and efficiently. Representatives are like the channel for the company as they develop the relationship between company and the dealers or pharmacies and doctors. They also cover the other factors such as assortments of the product, inventory, reduce the company overall transportation cost and the location of the high demand are for the products. 5. Conclusion: The scope of present the report does not cover all the factors and parameters for managing marketing of Roche pharmaceuticals ltd. The company believes in market diversification with maintain the market development. Several joint venture projects are being negotiated with the other foreign pharmaceuticals companies for the lateral expansion of the product mix. The company is investigating more diversification into the research and development of the diseases and their medicine. Specially, Roche is investing in discovering the cure of HIV. Roche pharmaceuticals’ product planners need to think about the product, which they have offered and services on three levels. This is the level that Roche pharmaceuticals should be concentrated more because they are not the market leader, they are the market challenger in Bangladesh and in the product life cycle they are staying in maturity level. The maturity level is most important part for the company and under this part a company face its most competitors. So, to stay at the maturity level Roche pharmaceuticals should increase their promotional tools and quality of the product without any increase in price level. The company needs more advertising from this viewpoint. They will select the media for advertisement, which they think convenient for them. We give some unusual advertisement for them in recommendation, which may give good response over the competitors. Finally, the product planner should build an augmented product around the core and actual products by offering additional consumer services and benefits. Recommendation or Suggestions: Suggestion on Company Operation: The recommendation for Roche pharmaceuticals, based on the findings and the action plans of the study, will be as follows: As a quality pharmaceutical company, Roche pharmaceuticals should concentrate on the health nature in this locality than internationally. If they go for research and development to the recommended area, they may comfortably stay in competition in relation to big operations in Bangladesh. However, if the company wants to dominate the market by providing life saving and over-the- counter medicines, they may raise funds by forming a public limited company or may try to make joint ventures with international pharmaceuticals industries. The company should have an efficient management and marketing organization to cope up with the demand of twenty first century. They should also maintain proper accounts of their operations and should follow updated accounting and project management procedures to have a foolproof system to evaluate their accounts and management data and variable’s, which are very important to take crucial financial and administrative decisions. Recommendation on Managing Marketing Activities: The company believes in diversifications and investing diversification into research and development department for invention new product. The companys current product face a higher price in locally, so the company is looking for newer products that must be replaced. But the products can fail the risks of innovation are also great as the rewards. The key to successful innovation lies in a total company effort, strong planning and a systematic new-product-development process. So our recommendation for Roche pharmaceuticals, when they diversify their present products to new products they should maintain some steps. This process starts with idea generation, hich may draw inspiration from internal sources, customers, competitors, suppliers and others. Next comes idea screening, which reduces the number of ideas based on the companys own criteria. Ideas that pass the screening stage continue through product concept development, in which a detailed version of new-product ideas are started in meaningful consumer terms. In the next stage, concept testing, new-product concepts are tested with a group of target consumers to dete rmine if the concepts have strong consumer appeal. Next step is marketing strategy development, in which an initial marketing strategy for the new-products is developed from the product concept. In the Business analysis stage, a review of the sales, costs and profit projection for a new product is conducted to determine whether the new-product is likely to satisfy the objectives. For business, customers are the kings. Roche pharmaceuticals always fulfill their customers needs and satisfactions with the quality. Principle of customers viewpoint is products should be designed, manufactured and distributed to meet the customers desires and needs from his point of view as determined from marketing surveys. So, Roche pharmaceuticals should analysis the product through a questionnaire that, what way competitors products are superior or inferior and will enable the product development engineers to design new or improved products that are more acceptable to customers. A checklist of the type of questions to be answered by a product analysis follows: Does the product meet the market requirements? †¢Is the product competitive in character, performance, and price? †¢What design improvements are needed to meet customers’ needs and to improve performance? †¢How can the methods of replacement of the product be improved? †¢What characteristics of demand are not presently supplied? †¢What is the future trend of changes as determined by customers’ changing conditions? †¢What is competition offering? Can you get design ideas from them? We recommend Roche pharmaceuticals Ltd. to analyze the market for the potential customers. The important aspect of market analysis is a study of the buying habits of the potential customers to determine the characteristics of the market. This information is also necessary in planning an effective sales programme. The following questions indicates some of the important factors that can help Roche pharmaceuticals for solving the marketing problem: ?Who buys the product being offered? ?How many other individuals influence the purchase? ?Where are the buyers located? ? How much time will be requested in selling them? What do buyers emphasize price, quality, delivery, service and the safety? ?When the potential customers in the habit of buying? ?Do they buy ahead of time? ?What discount and credit terms customary? Roche pharmaceuticals human resource department is very strong. Understanding customer requirements is essential in order to provide excellence in service. The profession of sales person is not so popular in our country, so it is hard to get efficient and competent sales person around. So, there is a possibility that Roche pharmaceuticals can do that is selecting and training salesmen. The selection of new employee for sales positions is usually a function of the sales department. The qualities looked for in the individual depend on the requirements for the job, as established in the job specification. Sales work may be classified as consumer, needs only the consumer selling. The training to be given sales personnel or representatives is determined by the requirements of each selling job. Product knowledge is essential so that selling points can be developed. Knowledge of the potential customers, including their location and buying abits, is also helpful in selling. The training program should include instruction in the business policies and procedures involved in making sales contracts, including terms of payment, services, and guaranties. As Roche pharmaceuticals are in the mature stage of the product life cycle, we suggest the company to improve their promotion. They can improve their sales promotion by offering extra benefits with product. 6. Appendix: Annexure 01 6. Develop Marketing mix for each Target 5. Develop Positioning for each Target 4. Select the Target Segment(s) . Develop Measures of Segment 2. Develop Profiles of resulting Segments 1. Identify Bases for Segmenting MARKET POSITIONING MARKET TARGETING MARKET SEGMENTING Figure: Steps in Market Segmentation, Targeting Positioning. 7. Bibliography / References: SOURCE 1. Philip Kotler Gray Armstrong. -Principles of Marketing [Prentice Hall of India Private Limited] 2. Corporate Brochure of the Company 3. Questionnaire 4. Newspaper 5. Company Website Reference: Voututi Kumar Roy -Senior Marketing Executive, Roche Pharmaceuticals. -Mobile No # 0191-345915

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Tips Tricks for Writing an Argumentative Essay Argumentative essay is a relatively difficult type of college writing. However, with our help it won’t cause you any problems. Argumentative Essay: Key Features and Useful Tips Being one of the most common college writing tasks, argumentative essay is still a problem for a lot of students. There are many reasons for that. First of all, you need to study chosen issue and find enough facts to prove your point. On the other hand, a short essay form requires you to express your thoughts in a concise and persuasive way. This paper should also meet a list of standards. First of all, let’s answer the question, what is an argumentative essay? This type of writing tasks implies research, analysis of evidences, and your clear position on an issue you’re writing about. This kind of writing is based on the work with previously published materials, such as articles, statistics, books, etc. The first step of the argumentative essay writing is your clear point on the selected topic. You need to start your essay with the introduction, and this is exactly where you need to introduce your key statement. Here you also need to explain why you consider such a topic important, as well as why others should care about it. This part of your essay is of key importance, since it’s the first thing that your readers see. Writing an argumentative essay, you have to develop logical structure. Let your readers easily move from one point to another, so they could understand you clearly. Make transitions between key sections of your text; this will make the essay easy to read, and to analyze. You also need to keep your research limited to the main topic. Don’t make it too broad; a perfect argumentative essay should explain main issue as fully as possible, without unnecessary data. However, you have to not be one-sided. Make sure that you provide different points of view, especially writing about controversial issues. Of course, such a task is rather difficult, so it’s no surprise if you want to find argumentative essay help. Fortunately, we have a perfect solution for you. Even if you don’t know how to write an argumentative essay at all, we can help you get highest grades. Our professional service is specialized in helping students with writing of any kind. You can contact us anytime and be sure that your essay will impress readers. Now you don’t need to spend a lot of time searching for catchy phrases, and trying to polish your style and grammar. We will do it for you, and we won’t charge you extra money. Our service is qualitative, fast and cheap. Just contact us right now, buy argumentative essay, and enjoy new opportunities!

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Week 5 disc 2 Can Government Create an Economic Recovery - Essay Example The economic crisis during his tenure was caused by among other factors; the collapse of the Stock Exchange in October 1929; failure of the banks to cushion customers’ money by insuring the cash; reduced purchasing power; and drought (Robbins, 2007). According to Robbins (2007), President Hoover’s administration announced practical and affordable plans aimed to balance the Federal spending; reform the financial sector; reduce taxes; and increase public works budget. Even though, these steps were gradual they had the potential to turn-around the American economy in the long-run, as opposed to the New Deal under FDR. The Great Depression of 1930s and the Great Recession of (2007-2009) are similar in the sense that they led to massive job cuts and a weakened private sector (Grabell, 2012). The government’s response eight decades ago draws similarities to the current economic stimulus programs aimed at empowering the private sector by creating more job opportunities and bringing the private sector back to life, almost instantaneously. Although, the two programs are believed to have eased budget shortfalls, especially for the private sector as a way of triggering the creation of more job opportunities, government spending is not the most effective way to deal with a major recession. The New Deal was more effective in restoring economy, since it was more

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The Manager as a Planner and Strategist Essay The Nature of the Planning Process: Planning is a process that managers use to identify and select appropriate goals and courses of action for an organization. The cluster of decisions and actions that managers take to help an organization attain its goals is its strategy. Thus, planning is both a goal-making and a strategy-making process. Planning is a three-step activity: 1)Determining the organization’s mission and goals: A mission statement is a broad declaration of an organization’s purpose that identifies the organization’s products and customers and distinguishes the organization from its competitors. 2)Formulating Strategy: Managers analyze the organization’s current situation and then convince and develop the strategies necessary to attain the organization’s mission and goals. 3)Implementing Strategy: Managers decide how to allocate the resources and responsibilities required to implement the strategies between people and groups within the organization. Levels of Planning: In large organizations planning takes place at three levels of management: Corporate Level, Business or Division Level, and Department or Functional Level. The Corporate-level plan contains top management’s decisions pertaining to the organization’s mission and goals, overall strategy, and structure. Corporate-level strategy indicates in which industries and national markets an organization intends to compete. The corporate-level plan provides the framework within which divisional managers create their business-level plans. A division is a business unit that has its own set of managers and functions or departments and competes in a distinct industry. Divisional managers are those who control the various divisions of an organization. At the business level, the managers of each division create a Business-level plan that details long-term goals that will allow the division to meet corporate goals and the division’s business-level strategy and structure. Business-level strategy states the methods a division or business intends to use to compete against its rivals in an industry. The business-level plan provides the framework within which functional managers devise their plans. A Function is a unit or department in which people have the same skills or use the same resources to perform their jobs. Functional managers are those who supervise the various functions such as manufacturing, accounting, and sales within a division. A Functional-level plan states the goals that functional managers propose to pursue to help the division attain its business-level goals, which, in turn, allow the organization to achieve its corporate goals. Functional-level strategy sets forth the actions that managers intend to take at the level of departments to allow the organization to attain its goals. An important issue in planning is ensuring consistency in planning across the three different levels. Functional goals and strategies should be consistent with divisional goals and strategies, which in turn should be consistent with corporate goals and strategies, and vice versa. Once complete, each function’s plan is normally linked to its division’s business-level plan, which, in turn, is linked to the corporate plan. Who Plans? In general, corporate-level planning is the primary responsibility of top managers. Corporate-level managers are responsible for approving business and functional-level plans to ensure that they are consistent with the corporate plan. Corporate planning decisions are not made in a vacuum. Other managers do have input to corporate-level planning. Even though corporate-level planning is the responsibility of top managers, lower-level managers can and usually are given the opportunity to become involved in the process. At the business level, planning is the responsibility of divisional managers, who also review functional plans. Functional managers also participate in business-level planning. Similarly, although the functional managers bear primary responsibility for functional-level planning, they can and do involve their subordinates in this process. Time Horizons of Plans: Plans differ in their time horizons, or intended durations. Managers usually distinguish among long-term plans, with a horizon of five years or more; intermediate-term plans, with a horizon between one and five years; and short-term plans, with a horizon of one year or less. Typically, corporate- and business-level goals and strategies require long and intermediate-term plans, and functional-level goals and strategies require intermediate and short term plans. Most organizations have an annual planning cycle, which usually linked to the annual financial budget. Although a corporate- or business-level plan may extend over five years or more, it is typically treated as a rolling plan, a plan that is updated and amended every year to take account of changing conditions in the external environment. Rolling plans allow managers to make midcourse corrections if environmental changes warrant or to change the thrust of the plan altogether if it no longer seems appropriate. Standing Plans and Single-Use Plans: Managers create standing and single-use plans to help achieve an organization’s specific goals. Standing plans are used in situations in which programmed decision making is appropriate. When the same situations occur repeatedly, managers develop policies (a general guide to action), rules (a formal, written guide to action), and standard operating procedures (SOP a written instruction describing the exact series of actions that should be followed in a specific situation) to control the way employees perform tasks. Single-use plans are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations. It includes Programs, which are integrated sets of plans for achieving certain goals, and Projects, which are specific action plans created to complete various aspects of a program. Why Planning is Important? Planning determines where an organization is at the present time and decides where it should be in the future and how to move it forward. When mangers plan, they must consider the future and forecast what may happen in order to take actions in the present and mobilize organizational resources to deal with future opportunities and threats. However, the external environment is uncertain and complex, and managers typically must deal with incomplete information and bounded rationality. Almost all managers engage in planning. The absence of a plan often results in hesitations, false steps, and mistaken changes of direction that can hurt an organization. Planning is important for four main reasons: 1)Planning is a useful way of getting managers to participate in decision making about the appropriate goals and strategies for an organization. 2)Planning is necessary to give the organization a sense of direction and purpose. A plan states what goals an organization is trying to achieve and what strategies it intends to use to achieve them. 3)A plan helps coordinate managers of the different functions and divisions of an organization to ensure that they all pull in the same direction. 4)A plan can be used as a device for controlling managers within an organization. A good plan specifies not only which goals and strategies the organization is committed to but also who is responsible for putting the strategies into action to attain the goals. Henri Fayol said that effective plans should have four qualities: Unity: Means that at any one time only one central, guiding plan is put into operation to achieve an organizational goal. Continuity: Means that planning is an ongoing process in which managers build and refine previous plans and continually modify plans at all levels so that they fit together into one broad framework. Accuracy: Means that managers need to make every attempt to collect and utilize all available information at their disposal in the planning process. Flexibility: Means that plans can be altered and changed if the situation changes. Scenario Planning: One way in which managers can try to create plans that have the four qualities described by Fayol is by utilizing scenario planning (Contingency planning), which is the generation of multiple forecasts of future conditions followed by an analysis of how to respond effectively to each of those conditions. Planning is about trying to forecast and predict the future in order to be able to anticipate future opportunities and threats. Because the future is unpredictable, the only reasonable approach to planning is first to generate scenarios of the future based of different assumptions about conditions that might prevail in the future and then to develop different plans that detail what a company should do in the event that one of these scenarios actually occurs. The great strength of scenario planning is its ability not only to anticipate the challenges of an uncertain future but also to educate managers to think about the future – to think strategically. Determining the Organization’s Mission and Goals: Determining the organization’s mission and goals is the first step of the planning process. Once the mission and goals are agreed upon and formally stated in the corporate plan, they guide the next steps by defining which strategies are appropriate and which are inappropriate. Defining the Business: To determine an organization’s mission, managers must first define its business so that they can identify what kind of value they will provide to customers. To define the business, managers must ask three questions: (1) Who are our customers? (2) What customer needs are being satisfied? (3) How are we satisfying customer needs? Answering these questions helps managers to identify not only the customer needs they are satisfying now but the needs they should try to satisfy in the future and who their true competitors are. All of this information helps managers plan and establish appropriate goals. Establishing Major Goals: Once the business is defined, managers must establish a set of primary goals to which the organization is committed. Developing these goals gives the organization a sense of direction or purpose. In most organizations, articulating major goals is the job of the CEO, although other managers have input into the process. The best statements of organizational goals are ambitious – that is, they stretch the organization and require the managers improve its performance capabilities. Although goals should be challenging, they should also be realistic. Challenging goals give managers an incentive to look for ways to improve an organization’s operation, but a goal that is unrealistic and impossible to attain may prompt managers to give up. The time period in which a goal is expected to be achieved should be stated. Time constraints are important because they emphasize that a goal must be attained within a reasonable period. Formulating Strategy: In strategy formulation managers analyze an organization’s current situation and then develop strategies to accomplish its mission and achieve its goals. Strategy formulation begins with managers’ analyzing the factors within an organization and outside, that affect the organization’s ability to meet its goals now and in the future. SWOT analysis and the five forces model are two techniques managers use to analyze these factors. SWOT Analysis: SWOT analysis is a planning exercise in which managers identify organizational Strengths, Weaknesses, environmental Opportunities, and Threats. Based on a SWOT analysis, managers at the different levels of the organization select the corporate-, business-, and functional-level strategies to best position the organization to achieve its mission and goals. The first step in SWOT analysis is to identify an organization’s strengths and weaknesses. The task facing managers is to identify the strengths and weaknesses that characterize the present state of their organization. The second step begins when managers embark on a full-scale SWOT planning exercise to identify potential opportunities and threats in the environment that affect the organization at the present or may affect it in the future. With the SWOT analysis completed, and strengths, weaknesses, opportunities, and threats identified, managers can begin the planning process and determine strategies for achieving the organization’s mission and goals. The resulting strategies should enable the organization to attain its goals by taking advantage of opportunities, countering threats, building strengths, and correcting organizational weaknesses. The Five Forces Model: Michel Porter’s five forces model: A well-known model that helps managers isolate particular forces in the external environment that are potential threats. Porter identified these five factors that are major threats because they affect how much profit organizations competing within the same industry can expect to make. 1)The level of rivalry among organizations in an industry: The more that companies compete against one another for customers, the lower is the level of industry profits. 2)The potential for entry into an industry: The easier it is for companies to enter an industry, the more likely it is for industry prices and therefore industry profits to be low. 3)The power of suppliers: If there are only a few suppliers of an important input, then suppliers can drive up the price of that input, and expensive inputs result in lower profits for the producer. 4)The power of customers: If only a few large customers are available to buy an industry’s output, they can bargain to drive down the price of that output. As a result, producers make lower profits. 5)The threat of substitute products: Often, the output of one industry is a substitute for the output of another industry. Companies that produce a product with a known substitute cannot demand high prices for their products, and this constraint keeps their profits low. Porter argued that when managers analyze opportunities and threats they should pay particular attention to these five forces because they are the major threats that an organization will encounter. It is the job of managers at corporate, business, and functional levels to formulate strategies to counter these threats so that an organization can respond to its task and general environments, perform at high level, and generate high profits. Formulating Corporate-Level Strategies: Corporate-level strategy is a plan of action concerning which industries and countries an organization should invest its resources in to achieve its mission and goals. Managers of most organizations have the goal of growing their companies and actively seek out new opportunities to use the organization’s resources to create more goods and services for customers. In addition, some managers must help their organizations respond to threats due to changing forces in the task or general environment. (Ex. Customers may no longer buy some kinds of goods or services, or other companies enter the market and attract away customers). Top managers aim to find the best strategies to help the organization respond to these changes and improve performance. The principal corporate-level strategies that managers use to help a company grow, to keep it on top of its industry, and to help it retrench and reorganize to stop its decline are: Concentration on a Single Business, Diversification, International Expansion and Vertical Integration. An organization benefits from pursuing any one of them only when the strategy helps further increase the value of the organization’s goods and services for customers. To increase the value of goods and services, a corporate-level strategy must help an organization differentiate and add value to its products either by making them unique or special or by lowering the costs of value creation. 1)Concentration on a Single Business: Most organizations begin their growth and development with a corporate-level strategy aimed at concentrating resources in one business or industry in order to develop a strong competitive position within the industry. Sometimes, concentration on a single business becomes an appropriate corporate-level strategy when managers see the need to reduce the size of their organizations to increase performance. Managers may decide to get out of certain industries. Managers may sell off those divisions, lay off workers, and concentrate remaining organizational resources in another market or business to try to improve performance. In contrast, when organizations are performing effectively, they often decide to enter new industries in which they can use their resources to create more value. 2)Diversification: Diversification is the strategy of expanding operations into a new business or industry and producing new goods or services. There are two main kinds of diversification: Related and Unrelated. Related Diversification: Is the strategy of entering a new business or industry to create a competitive advantage in one or more of an organization’s existing divisions or businesses. It can add value to an organization’s products if managers can find ways for its various divisions or business units to share their valuable skills or resources so that synergy is created. Synergy is obtained when the value created by two divisions cooperating is greater than the value that would be created if the two divisions operated separately. In this way, related diversification can be a major source of cost savings. In pursuing related diversification, managers often seek to find new businesses where they can use the existing skills and resources in their departments to create synergies, add value to the new business, and hence improve the competitive position of the company. Unrelated Diversification: Managers pursue unrelated diversification when they enter new industries or buy companies in new industries that are not related in any way to their current business or industries. Main reasons for pursuing unrelated diversification: †¢Buy a poorly performing company, transfers to it their management skills, turn around its business, and increase its performance, all of which creates value. †¢Purchasing businesses in different industries lets managers engage in portfolio strategy, which is apportioning financial resources among divisions to increase financial returns or spread risks among different businesses. Sometimes, too much diversification can cause mangers to lose control on their organization’s core business. Although unrelated diversification might initially create value for a company, mangers sometimes use portfolio strategy to expand the scope of their organization’s business too much. And so, it becomes difficult for top managers to be knowledgeable about all of the organization’s diverse business. Unable to handle so much information, top managers are overwhelmed and eventually make important resource allocation decisions on the basis of only a superficial analysis of the competitive position of each division. This usually results in value being lost rather than created. 3)International Expansion: Corporate-level managers must decide on the appropriate way to compete internationally. If managers decide that their organization should sell the same standardized product in each national market in which it competes, and use the same basic marketing approach, they adopt a Global Strategy. Such companies undertake very little, if any, customization to suit the specific needs of customers in different countries. But if managers decide to customize products and marketing strategies to specific national conditions, they adopt a Multidomestic Strategy. The major advantage of a global strategy is the significant cost savings associated with not having to customize products and marketing approaches to different national conditions. The major disadvantage is that, by ignoring national differences, managers may leave themselves vulnerable to local competitors that do differentiate their products to suit local tastes. The major advantage of a Multidomestic strategy is that by customizing product offerings and marketing approaches to local conditions, managers may be able to gain market share or charge higher prices for their products. The major disadvantage is that customization raises production costs and puts the Multidomestic company at a price disadvantage because it often has to charge prices higher than the prices charged by competitors pursuing a global strategy. Choosing a Way to Expand Internationally: A more competitive global environment has proved to be both an opportunity and a threat for organizations and managers. The opportunity is that organizations that expand globally are able to open new markets, reach more customers, and gain access to new sources of raw materials and to low-cost suppliers of inputs. The threat is that organizations are likely to encounter new competitors in the foreign countries they enter and must respond to new political, economic, and cultural conditions. Before setting up foreign operations, managers need to analyze the forces in the environment of a particular country in order to choose the right method to expand and respond to those forces in the most appropriate way. There are four basic ways to operate in the global environment: a)Importing and Exporting: The least complex global operations are exporting and importing. A company engaged in exporting makes products at home and sells them abroad. An organization might sell its own products abroad or allow a local organization in the foreign country to distribute its products. Few risks are associated with exporting because a company does not have to invest in developing manufacturing facilities abroad. A company engaged in importing sells at home products that are made abroad. The internet has made it much easier for companies to inform potential foreign buyers about their products. b)Licensing And Franchising: In licensing, a company allows a foreign organization to take charge of both manufacturing and distributing one or more of its products in the licensee’s country or world region in return for a negotiable fee (Pursued by manufacturing company). The advantage is that the licenser does not have to bear the development costs associated with opening up in a foreign country. The risks associated with this strategy are that the company granting the license has to give its foreign partner access to its technological know-how. In franchising, a company sells to a foreign organization the rights to use its brand name and operating know-how in return for a lump-sum payment and share of the profits. The advantage is that the franchiser does not have to bear the development costs of overseas expansion. The downside is that the organization that grants the franchise may lose control over the way in which the franchise operates and product quality may fall. c)Strategic Alliances: One way to overcome the loss-of-control problems associated with exporting, licensing, and franchising is to expand globally by means of a strategic alliance. In a strategic alliance, managers pool or share their organization’s resources and know-how with those of a foreign company, and the two organizations share the rewards and risks of starting a new venture in a foreign country. A strategic alliance can take the form of a written contract between two or more companies to exchange resources, or it can result in the creation of a new organization. A joint venture is a strategic alliance among two or more companies that agree to jointly establish and share the ownership of a new business. d)Wholly Owned Foreign Subsidiaries: Managers invest in establishing production operations in a foreign country independent of any local direct involvement. Operating alone, without any direct involvement from foreign companies, an organization receives all of the rewards and bears all of the risks associated with operating abroad. This method is much more expensive than the others because it requires a higher level of foreign investment. Advantages: Higher potential returns, reduces the level of risk since managers have full control over all aspects, protect their technology and know-how†¦ 4)Vertical Integration: When an organization is doing well in its business, managers often see new opportunities to create value by either producing their own inputs or distributing their own outputs. Vertical Integration is the corporate-level strategy through which an organization produces its own inputs (backward vertical integration) or distributes and sells its own outputs (forward vertical integration). A major reason why managers pursue vertical integration is that it allows them either to add value to their products by making them special or to lower the costs of value creation. Vertical integration can be a problem when forces in the environment counter the strategies of the organization and make it necessary for managers to reorganize or retrench. Vertical integration can reduce an organization’s flexibility to respond to changing environmental conditions. Formulating Business-Level Strategies: According to Porter, managers must choose between the two basic ways of increasing the value of an organization’s products: Differentiating the product to add value or lowering the costs of value creation. He also argues that managers must choose between serving the whole market or serving just one segment of the market. Based on those choices, managers choose to pursue one of four business-level strategies: 1)Low-Cost Strategy: With a low-cost strategy, managers try to gain a competitive advantage by focusing the energy of all the organization’s departments or functions on driving the organization’s costs down below the costs of its rivals. According to Porter, organizations pursuing a low-cost strategy can sell a product for less than their rivals sell it and yet still make a profit because of their lower costs. Thus, these organizations hope to enjoy competitive advantage based on their low prices. 2)Differentiation Strategy: With a differentiation strategy, managers try to gain a competitive advantage by focusing all the energies of the organization’s departments or functions on distinguishing the organization’s products from those of competitors on one or more important dimensions, such as product design, quality, or after-sales service and support. Often, the process of making products unique and different is expensive. Organizations that successfully pursue a differentiation strategy may be able to charge a premium price for their products, a price usually much higher than the price charged by a low-cost organization. The premium price allows them to recoup their higher cost. 3)Focused Low-Cost Strategy: Managers pursuing a focused low-cost strategy serve one or a few segments of the overall market and aim to make their organization the lowest-cost company serving that segment. 4)Focused-Differentiation Strategy: Managers pursuing a focused differentiated strategy serve just one or a few segments of the market and aim to make their organization the most differentiated company serving that segment. Formulating Functional-Level Strategies: Functional-level strategy is a plan of action to improve the ability of an organization’s functions to create value. It is concerned with the actions that managers of individual functions can take to add value to an organization’s goods and services and thereby increase the value customers receive. The price that customers are prepared to pay for a product indicates how much they value an organization’s products. The more customers value a product, the more they are willing to pay for it. There are two ways in which functions can add value to an organization’s products: 1)Functional managers can lower the costs of creating value so that an organization can attract customers by keeping its prices lower than its competitors’ prices. 2)Functional managers can add value to a product by finding ways to differentiate it from the products of other companies. There must be a fit between functional- and business-level strategies if an organization is to achieve its mission and goal of maximizing the amount of value it gives customers. The better the fit between functional- and business-level strategies, the greater will be the organization’s competitive advantage and its ability to attract customers and the revenue they provide. Each organizational function has an important role to play in the process of lowering costs or adding value to a product. Creating value at the functional level requires the adoption of many state-of-the-art management techniques and practices. All of these techniques can help an organization achieve a competitive advantage by lowering the costs of creating value or by adding value above and beyond that offered by rivals. Planning and Implementing Strategy: After identifying appropriate strategies to attain an organization’s mission and goals, managers confront the challenge of putting those strategies into action. Strategy implementation is a five-step process: 1)Allocating responsibility for implementation to the appropriate individuals or groups. 2)Drafting detailed action plans that specify how a strategy is to be implemented. 3)Establishing a timetable for implementation that includes precise, measurable goals linked to the attainment of the action plan. 4)Allocating appropriate resources to the responsible individuals or groups. 5)Holding specific individuals or groups responsible for the attainment of corporate, divisional, and functional goals. The planning process goes beyond the mere identification of strategies; it also includes actions taken to ensure that the organization actually puts its strategies into action. It should be noted that the plan for implementing a strategy might require radical redesign of the structure of the organization, the development of new control systems, and the adoption of a program for changing the culture of the organization.

Use of Steroids in Baseball Essay -- Sports Argumentative Persuasive E

Use of Steroids in Baseball Since Major League Baseball all-star Ken Caminiti openly admitted to Sports Illustrated to have used steroids during his career, steroid use as a muscle and performance enhancer has been uncovered and become a big issue Major League Baseball is wrestling with. The â€Å"ongoing and delicate subject, baseball’s dirty, little secret that is no secret anymore,† is a huge and growing problem (Curry B20). Now that light has been shed on the issue, critics are beginning to realize the magnitude of this problem and do not like it. Steroids are a cheating virus that is spreading quickly. Users cheat other players, themselves, the fans, and the game itself. Action must be taken to rid Major League Baseball of this virus before it takes over the game. Steroids are illegal in the US, and banned from baseball, however in the past they have not been suspected to be such a big problem. Therefore, Major League Baseball has failed to properly address it with preventative measures. In the 2001, the Major League Players Association’s contract with Major League Baseball protected players on the 40 man roster against testing. As for the minor leagues, testing only occured in-season, and was restricted to some players. Many players use in the off season and know how long the drugs will remain in their bodies (anywhere from 2 weeks to 18 months). If tested positive, they receive a warning about the hazards of the drug and are not punished at all. Five to ten percent of minor leaguers tested positive, and which fails to account for users not tested, those who used out-of-season, and those who found measures around the test. In the majors, some suspect that 50% of players use steroids and some, such as Jose Canseco, as hig... ...2002: D3 Steroids.com. 2003. Anabolics.com, Inc.5 Mar. 2003. Verducci, Tom. â€Å"Totally Juiced.† Sports Illustrated.com 3 June 2002. 5 Mar. 2003. Yesalis, Charles E; Cowart, Virginia S. The Steroids Game US 1998 Associated Press articles on www.CBSnews.com National Pastime Altered By Drugs CLEARWATER, Fla., March 31, 2003 Jason Giambi Subpoenaed SAN FRANCISCO, Oct. 20, 2003 Barry Bonds In Subpoena Lineup SAN FRANCISCO, Oct. 22, 2003 Designer Steroid Doping Scandal SAN FRANCISCO, Oct. 23, 2003 Steroid Scandal's Impact Spreads SAN JOSE, Calif., Oct. 25, 2003 Athletes Testify In Doping Probe WASHINGTON, Oct. 30, 2003 Baseball To Test For Steroids NEW YORK, Nov. 13, 2003 Bonds At Bat In Steroid Probe SAN FRANCISCO, Dec. 5, 2003

Banana Peel as an alternative for a shoe polish Essay

I. Rationale Banana is a staple starch for many tropical populations.Depending upon cultivar and ripeness, the flesh can vary in taste from starchy to sweet, and texture from firm to mushy. Bananas are an excellent source of vitamin B6 and contain moderate amounts of vitamin C, manganese and dietary fiber. There many uses of the â€Å"banana†; banana sap from the pseudostem, peelings or flesh may be sufficiently sticky for adhesive uses, the large leaves may be used as umbrellas and many more. One of these is the banana peel.We eat banana almost everyday. There are 100 bananas consumed in the UK alone, how much more would it be including the rest of the world? Aside from us being satisfied from it, instead of throwing the peel after we eat or putting it aside why not use them. By doing this we can help in lessening the chemical use in the society, to maintain a greener environment and to save money by using alternatives. Instead of banana peel,is there another alternative for a shoe polisher? An alcohol. Alcohol is more effective than the banana peel because it can really clean any item while the banana peel might stain the shoe. OBJECTIVES OF THE STUDY The study aspired primarily, to search for alternative ways of a shoe polisher. Lastly, to make a simple preparation and pocket friendly. 1.How do you use the banana peel? 2. Will the banana leave an odor on the shoe once it has been rubbed? 3. Does alcohol have dangerous chemicals that can destroy the shoe? SIGNIFICANCE OF THE STUDY Our goal for our project is to share useful informations on how to save money and to be resourceful.This finding will not only benefit the people but also for our Mother Earth. III. REVIEW OF RELATED LITERATURE AND STUDIES The review of the study focuses on the banana peel and the alcohol, on wich works best.Why the banana peel is one of the alternatives for a shoe polisher,what’s in it’s skin that makes it an alternative for a shoe polish. http://www.wikihow.com/Use-Banana-Peels,Banana peels are as useful as banana. The contain antifungal,antibiotic and enzymatic properties that can be put to good use. Plus they’re moist and nutritious. http://en.wikipedia.org/wiki/Banana_peel,Banana peels are also used for water purification, to produce ethanol, cellulase, laccase and in composting. Definition of Terms: Antifungal- destroying fungal and their growth. Antibiotic- a medicine that inhibits the growth of or destroys microorganisms. Enzymatic- of relating to, or produced by an enzyme. Moist- slightly wet. Nutritious- nourishing Purification- is when things are cleaned and made pure. Ethanol- an intoxicating liquor containing this liquid. Cellulase- an enzyme that converts cellulose into glucose or a disaccharide. Laccase- are copper-containing oxides enzymes that are found in many plants,fungi and microorganisms. IV. Materials †¢Banana peel †¢Alcohol †¢soft cloth or brush V. Procedure First, peel a banana and separate the peel into three pieces. Preferably, wait until you want to eat a banana rather than peeling one just for your shoes. Second, rub your leather shoes with the inside of the banana peel. Use the same circular motions that you would use with regular shoe polish.Don’t worry if it gets a little messy. Lastly, Buff the shoe with a soft cloth. An old T-shirt or dust cloth will work well. This will remove  any banana that may have been left behind on the shoe. (do this with the alcohol) VI. Time Table Date: Time: What to do/task: 1/29/15 Assign on who will bring the assigned materials. 2/1/15 Start the project. VII. Budget We won’t be buying anything because the materials can be found in the house. VII. Proponents Clarita Isabel Baran Donessa Kasandra Rule Villafranca Khazel Mae Yntig Maila Angela Ybiernas