The Philosophy of Birches :: Robert Frost Birches Essays

The Philosophy of Birches  Ã‚        Ã‚  Ã‚   The philosophy expressed in "Birches" poses no threat to popular values or beliefs, and it is so appealingly affirmative that many readers have treasured the poem as a masterpiece. Among Frost's most celebrated works, perhaps only "Stopping by Woods on a Snowy Evening" ranks ahead of it. Yet to critics like Brooks and Squires, the persona's philosophical stance in "Birches" is a serious weakness. [. . .] The didactic and philosophical element that some critics have attacked strikes others as the very core of Frost's virtue. [. . .] Perhaps impartial observers can accept the notion that "Birches" is neither as bad as its harshest opponents suggest nor as good as its most adoring advocates claim. [. . .] "Birches" . . . contains three fairly lengthy descriptions that do not involve unusual perspectives. In fact, the most original and distinctive vision in the poem--the passage treating the ice on the trees (ll. 5-14)--is undercut both by the self-consciousness of its final line ("You'd think the inner dome of heaven had fallen") and by the two much more conventionally perceived environments that follow it: the rural boyhood of the swinger of birches (ll. 23-40) and the "pathless wood," which represents life's "considerations" (ll. 44-47). As a result, the poem's ardent concluding lines--its closing pronouncements on life, death, and human aspiration--do not arise from a particular experience. Instead, they are presented as doctrines that we must accept or reject on the basis of our credence in the speaker as a wise countryman whose familiarity with birch trees, ice storms, and pathless woods gives him authority as a philosopher. Since in "Birches" the natural object--tree, ice crystal, pathless wood, etc.--functions as proof of the speaker's rusticity, Frost has no need for extraordinary perspectives, and therefore the poem does little to convince us that an "experience," to use [Robert] Langbaum's wording, "is really taking place, that the object is seen and not merely remembered from a public or abstract view of it." This is not to deny that the poem contains some brilliant descriptive passages (especially memorable are the clicking, cracking, shattering ice crystals in lines 7-11 and the boy's painstaking climb and sudden, exhilarating descent in lines 35-40), and without doubt, the closing lines offer an engaging exegesis of swinging birches as a way of life. But though we learn a great deal about this speaker's beliefs and preferences, we find at last that he has not revealed himself as profoundly as does the speaker in "After Apple-Picking.

Business Accounting (Gbb/Gcb 1013)

Business Accounting (Gbb/Gcb 1013) Semester January 2013 Title:   Lecturer: Hezlina Bt M Hashim Group Members: No. | Name| Student Id| 1| | | 2| | | 3| | | 4| | | 5| | | Date Received: Introduction: Charitable organizations are NGOs whose purpose of existence is to benefit the public. The mission of a charitable non-profit expresses the particular way in which the organization will fulfil its public benefit purpose.The board members of a non-profit organization entrusted with the supervision of the board members who have a legal obligation to ensure that the non-profit organization uses the funds to fulfil its mission. QUESTION: Better Days Ahead, a charitable organization, has a standing agreement with First National Bank. The agreement allows Better Days Ahead to overdraw its cash balance at the bank when donations are running low. In the past, Better Days Ahead managed funds wisely, and rarely used this privilege.Jacob Henson has recently become the president of Better Days. To expand operations, Henson acquired office equipment and spent large amounts on fundraising. During Henson’s presidency, Better Days Ahead has maintained a negative bank balance of approximately $10,000. 1. – What is the ethical issue in the situation? The issue in this situation is the investment policy. Managers of non-profit organizations must ensure that investments are consistent with the values nd principles set to achieve the stated objectives to guide activities, and ethical behaviour of its employees, volunteers and board members. The lack of an ethical base as a result of the lack of creation and monitoring of ethical standards has the potential to lead to a lack of success in the organization. However the fulfilment of the ethical standards of the institution by the leader and employees, since success is reflected in the work to be carried out, ensuring the objectives and goals to reach.Better Days Ahead, as a charitable organization, it is not normal to maintain a negative bank account as it has no benefits arise from its operations, but since the president of the organization is carrying out his work according to the duties of his job and the agreements with the bank, then it is acting properly and not against any ethics or agreements. 2. State why you approve or disapprove of Henson’s management of Better Days Ahead’s funds. I would approve of his management of the fund as he is taking out a loan in order to improve the fundraising ability of his charitable organization.Since any charity relies on fundraising in order to increase their operating funds and potential, the usage of a loan during a â€Å"slow time† in order to increase this fundraising potential of the organization seems to outweigh the impact that the negative bank balance might show due to the loan. Certain company have to do this in order to maintain current condition. What has been done by Better Days Ahead is good to their company and will benefit them more. CONCLUSION As the conclusion, we can see from above statement, there are still many ways to improve the productivity of the company although the company is doing charitable work.As a mana ger or even worker, they have to implement the way of ethics in doing business of work. Some of the company already implement company policy to smoothing the way of work. To disregard company policy is unethical because it has the potential to harm the company and other employees. To me, unethical behaviours can damage a company's credibility, causing the business to lose customers and ultimately shut down. However, business owners and their management teams can work with employees to prevent unethical behaviours. In this case, the situation that they are acing is still ethical as they have to maintain their current status as charitable company. INTRODUCTION There are many different forms of business organizations. They are sole proprietorship, partnership, and corporation. A sole proprietorship consists of one individual doing business. Sole proprietorship are the most numerous form of business organization in Malaysia, however they account for little in the way of aggregate busine ss receipts. There are no forms you need to fill out to start this type of business. This is the easiest form of business to set up, and the easiest to dissolve.The purpose of most organization or business is mainly to earn profit. It is usually called as profit oriented business. So, it is actually a profit business or other organization whose primary goal is making money, as opposed to a non-profit organization which focuses a goal such as helping the community and is concerned with money only as much as necessary to keep the organization operating. This includes anything from retail stores to restaurants to insurance companies to real estate companies. Question: You are opening Quail Creek Pet Kennel.Your purpose is to earn profit and you organize as proprietorship. 1. Make a detailed of 5 factors you must consider to establish the business. There are many factors that must be considered in order to start a business. Five of them are listed below: Types of business and a proper p lan The first thing to be always decided upon is the type of business we want to do. Before selecting on any type, we should always do a thorough background check on the idea, such as the current trends. For example, people in Malaysia like to take cats and kittens as their own pet. It has even become a trend.After that is done, a proper road-map should be planned for the road ahead detailing the various costs involved, growth plans, and operating ratio. A thought out plan should also enable us to get a start-up loan from the bank quickly if we want to get capital from bank. Capital The next factor that we need to consider is the money or capital. Usually, small businesses starts with small amount of capital which means only small amount of profit will be earned. While arranging the capital, we should always keep a little margin for the initial running cost and the loan repayment interest.The latter can be avoided, if you can arrange the capital from the family or friends. We can al so obtain capital by taking a loan from banks. But, as our business has unlimited liability it is too risky if the business failed. Pet kennel or care taking business doesn’t usually need much capital. Marketing Another of the many factors to consider when starting the business is the market you enter and how to reach out and inform people about our business. We also need to segment the market in order to satisfy everyone. For example, Malays usually keep cats as their pet and Chinese or Indians usually take care of dogs.We can give pamphlets and distribute it from house to house. The pamphlets should contain the details and information. This doesn’t cost much as it’s just photocopy. Besides that, we should be very friendly while interacting with customers to maintain our pubic relation. If we have workers, they should be trained to be persuasive and friendly or maybe talkative. Equipment needed In order to start this kind of business, we need to determine what equipment we need. Firstly, we may need cat cages, dog kennels, cat and dog food, and other things.We also need to decide from where we can get these things and decide which supplier to get these things. The prices of these equipments also need to be considered. Cheap price usually means low quality products and expensive products usually are more quality. Location The next important factor that we need to consider is the location of the business. It is appropriate for us to locate our business near neighborhoods where many people live. We can buy or rent a shop lot or even an empty house and it must be located where people can see and know about it.We shouldn’t choose a place far away from people’s houses. But renting a house can annoy or disturb the next door neighbors with the smell of animals and their noises. This is unethical and can ruin our reputation as a business. So it is better if we rent a shop lot in areas where as we can’t afford to buy it. 2. Ide ntify 5 or more transactions that your business will undertake to open and operate the Kennel. a) Debit cash credit capital. * This is important to open the business where the owner puts the capital in the business.This can be said as the initial capital to open and help the owner to operate the business. b) Debit purchases cash credit. * The owner uses some cash to buy equipments from the suppliers as the stocks for his pet kennel business. c) Debit accounts receivables credit service revenue. * The customer now is paying on credit for the service. d) Debit maintenance expense credit cash * The owner spends some cash to repair the broken dog kennel. e) Credit accounts receivables debit cash * The customer on credit pays the remaining balances owed. f) Debit medication expense credit cash While taking care of the dogs, one of them was injured and need to be treated in the animal clinic. 3. income statement The Quail Pet Kenner income statement, statement of owner’s equity, an d balance sheet at the end of the first month of operation. Quail Creek Pet Kennel Income Statement For the Month Ended January 31,2013 Revenue : Service3000 Expenses: Maintenance200 Medication430 Rent1700 Advertising 560 2890 Net Income 110 Quail Creek Pet Kennel Statement of Owner’s Equity For the Month Ended January 31,2013 Quail Creek Pet Kennel, capital, January 1,2013 30000Add : Investment by owner 0 Net Income 110 Subtotal30110 Less: Withdrawal by owner 750 Quail Creek Pet Kennel, capital, January 31,201329360 Quail Creek Pet Kennel Balance Sheet January 31,2013 AssetsLiabilities Cash21360Account Payable 9800 Furniture 9800Owner Equity Equipment 8000Capital 29360 Total Assets39160Total Liabilities and Equity 39160 Evaluation of Business Since the business has just started up on its first month of operations, the figures of our accounts have shown good progress and shows that the business might be a success is the coming years.However, we have to determine whether or no t to continue the business with a few calculations that could be done for the business. First of all, we use the current ratio of the business where the we divide the Current Asset of the business with the current liabilities. This is to measure the business’s current ability to pay off all the liabilities of the business where the higher the ratio, the higher the probability of the business to have enough sufficiency to maintain its business operations. The calculations are as follows: Current Assets = 21360Current Liabilities 9800 = 2. 1786 Since the Current ratio is above 1, the business could have a higher possibility of continuing running with lower risk of failing in the business line. This shows that the business can continue to run and succeed in the future as the business holds a small amount of risk. Another way of determining whether or not the business the business is by the Acid-Test ratio which determines the ability of the business to pay all current liabilitie s if they came due immediately. The calculation is as follows:Cash + Short term investment + Net current receivables = 21360 Current liabilities 9800 = 2. 1786 Again, the Acid-test ratio indicates that the ratio of the business is above 1. This shows that the business does have the ability to pay all current liabilities if they came due immediately. This also shows that the business can run very smoothly and efficiently in the coming months and years to come and could be a good business to continue on investing and serving.The final way to determine whether or not the business should continue its operations after evaluating its first month of operation is by using the Debt Ratio. This calculation is done to determine the financial risk of the business. The calculation of the Debt Ratio is as follows: Total liabilities = 9800 Total Assets 21360 = 0. 459 Since the Debt Ratio is below 1, the business shows a good ratio and record that if the business continues its operations, it has a low financial risk and can be a very good business to invest into.In conclusion, after analyzing all of the probabilities, and calculating all of the results of the business’s first month operations, we can conclude that the business of the Quail Creek Pet Kennel should be continued and can be a success in the future as all the facts shows a positive outcome for the business. Conclusion From the first question, we can conclude that there are still many ways to improve the companies productivity even though the company is doing charitable work. As either a manager or an employee, the way of ethics have o be implemented in doing business of any sorts. A few of other companies or businesses have started to implement company policies of work ethics in order to improve the quality and efficiency as well as effectiveness of the work. To disregard company policy is unethical because it has the potential to harm the company and other employees of the company. An unethical behavior of an employee can ruin a company’s reputation as well as credibility in the eyes of the stakeholders as well as potential investors, which could cause the company to stop operations.The business owners as well as their management teams can find a way to prevent their employees from making unethical decisions or behaviors in the company. From the final question, we can conclude that Quail Creek Pet Kennel has a higher possibility of continuing its operations. This is based on a thorough calculation of assets and liabilities of the business which has only been operating for 1 month and the results of the calculations done have shown positive outcomes for the business.This has made us conclude that the business has a very good potential of expanding in the future, and has a probability of opening more branches nationwide and can project a very high success rate if the business continues its operations for the years to come. In conclusion, ethics for a business is not something th at has to be put aside in any kind of business that we are operating. This also implies to charity work. Finally, a a charity-based business is not an excuse to not succeed in the business world as any kind of business can prove to be a success if we run it efficiently and effectively.

Reformation Essay

The Reformation is a broad term used to describe the period of time beginning around 1500 A. D. extending through the mid-seventeenth century, with roots dating back to around the fourteenth century. Society was in something of an upheaval at the time and the church was faced persistent heresy. A wave that would become known as the Protestant Reformation started in Germany in the early 1500’s and moved throughout the German speaking countries to Scandinavia to the French and finally to England and Scotland. Differing from the Renaissance, the Reformation made an impact in most every European’s life and forced people to make the decision between the old way and the new. In the early stages of the Reformation there was a man, the pioneer of that Protestant Reformation that swept over Europe, a man who ventured into a new arena of thought in relation to how the Church, his name was Martin Luther. 1] The following writing will be a short biographical work of Martin Luther showing some of the events of his life and how through them, he changed the Church as well as contributed to the progress of the Reformation concluding with a look at his life in a way to show more of who Luther was as opposed to what he did. Martin Luther was born in Eisleben Germany on November 10, 1493 before moving to Mansfield in 1484 where he attended school before moving on to Magdeburg with the Brethren of the Common Life. From there he entered the University of Erfurt in 1501 where he was introduced to nominalist philosophy which taught the inability of natural reason to establish articles of faith. It was here that he also furthered his linguistic skills in the classical tongues, and graduated with his B. A. in 1502 and his M. A. in 1505. The winds of the Reformation had already begun to whirl as Luther was growing up. He had been studying law, before being caught up in the religious revival that had been heading across Western Europe. 2] That July he was knocked to the ground by lightning and the combination of those events, the death of a friend and issues inside himself he entered the chapter house of the Hermits of St. Augustine[3] in Erfurt monastery of the Augustinian Eremites. At this time he was given his very first Bible, which he studied relentlessly, studying carefully Romans and Galatians. He was also deeply into the works of Augustine as well as William of Occam and carried with himself the reputation of being a man of singular piety, devotion and monastic zeal. [4] To the objection of his father he took the vows in September 1506, was elected to study for the priesthood, and was made a deacon in February of 1507 and ordained a priest on April 4 of that same year. His father attended his first Mass where he rebuked Martin for disobeying his parents. [5] At the monastery, Luther practiced ascetic excesses to try to achieve some sense of inner peace. Johann von Staupitz helped him away from his life of standing fearfully in front of a Deity to responding in joy to the loving forgiveness of God through Jesus Christ. In 1510 he went on a business trip to Rome to the Vatican where he was shaken and disturbed by the commercial, showy splendor of the Vatica n. In 1512, Luther began lecturing as a doctorate of theology at Wittenberg, a position he would hold for the rest of his life. For the following two years he lectured heavily on the Psalms before shifting to Romans, Galatians, Hebrews and Titus in 1516. It was after these studies that Luther became convinced that salvation is a new relationship with God, and that it was not a merit-based system but rather it came through placing trust in the promises of God. Humans would still sin, but would live life as a forgiven sinner as a result of their relationship with Jesus Christ. It was also through these studies that Luther had his Gospel epiphany in 1516 while reading in Galatians 3 that â€Å"the just shall live by faith. † At this time that Luther was released from his haunting sense of guilt and crossed over into the freedom that came from relying on God’s grace. During this time he was growing, discovering new convictions, and while he had not written them into an officially theology he did have the principles that would be instrumental in and would define the Reformation; man is justified by faith alone, every believer has direct access to God and the Bible is the sole source of authority for faith and life. In 1517 Luther decided he needed to put these ideas into action. It was in that year that he came across a Dominican, Johann Tetzel, selling indulgences to Luther’s parishioners. Going against Tetzel’s methods, bad theology and the fact that the outflow of cash was for a new St. Peter’s for Leo X, Luther preached against buying pardons and for relying on God’s grace for salvation. He had grown tired of this theology that was lacking Scriptural truth about it. On October 31, 1517, the day for which many remember Luther, he tacked Ninety-five Theses to the door of the Castle Church in Wittenberg intending to have the questions bring about academic discussion, not a document written to insight a revolt against the pope of the Church of Rome. The Theses were translated and circulated bringing about attacks from Tetzel and the formidable Eck, labeling him a heretic. Luther was ordered by Leo X to appear at Rome in 1518 though it Frederck â€Å"the Wise† changed the hearing to Augsburg and it was through Frederick’s protection that Luther was able to survive. At the time of the hearing, Leo was drafting a papal bull describing indulgences in the exact fashion that Luther had questioned. In 1519 Luther’s debate went publicly with Eck and he admitted that he rejected other authority of popes and councils when they were not congruent to the Scriptures. To combat the view that he was going against everything the church stood for, he published three works to clarify his views; â€Å"An Address to Christian Nobility of the German Nation,† â€Å"The Babylonian Captivity of the Church† and the â€Å"Liberty of a Christian Man. On Dec. 10, 1520, he was presented with a papal bull threatening to excommunicate him. He publicly burned the document along with a copy of the canon law, an open defiance of the pope’s authority in refusal to renounce any of his viewpoints Due to factors beyond just Luther’s actions, the Wittenberg civil authorities looked on approvingly as their country was in a rebellious mood. Again h e was summoned to appear before the pope, again refusing to budge from his position. A group of German churchmen, princes and nobles approached him one day ordering him to recant to which he replied, â€Å"Unless I am refuted and convicted by testimonies of Scripture or by clear arguments, my conscience is bound in the word of God: I cannot and will not recant anything. I cannot do otherwise. Here I stand. God help me, Amen. † It was Frederick that again came to the rescue of Luther, saving him from almost certain martyrdom yet again, abducting him on his journey from Worms and holding him at the Wartburg Castle for ten months. Some consider Luther’s time spent there in the castle his most valuable as, among other things, he translated the Greek Bible to German. Upon his return to Wittenberg in March of 1522 he set about organizing the reformation that had nearly crumbled under the enthusiastic, but unskilled leadership of such people as Carlstadt and Zwilling in Wittenberg. They had gotten a crowd together that started rampages, wrecking statuary and artwork, actions Luther quickly denounced and went about producing forms for instruction, worship and church government. The Peasant’s War came about in 1524, but Luther continued undeterred, holding to the position of upholding authority, calling for social justice and urging the consideration for the economic welfare of the lower class. Luther’s language used in urging the princes to put down the revolt was intemperate and he ended up alienating some of the lower class. [6] During his time in the castle, Luther set out writing a children’s catechism as well as a catechism for the common people. It was also during this time that he composed what some consider the battle hymn for the reformation â€Å"Almighty Fortress Is Our God. He went on teaching in his position, beginning to teach that priests could marry and soon met and married a former nun named Katharina von Bora who had followed him along with eight other nuns in fleeing from their convent in 1523 to take refuge in Wittenberg. [7] Together they produced six children of their own and opened their home to countless others as well as boarding students and other guests. [8] Luther continued to write, preach and teach and in 1530 he approved the Augsburg Confession and the Augsburg Apology as written by Philip Melanchthon. In 1573 Luther restated his doctrines in the Schmalkald Articles and spent his remaining years spent in inactive and productive service, such as writing â€Å"On Bondage of Will. † Luther died in his home town of Eisleben after mediating a meeting between two princes and experiences mild chest pains[9] in 1546. [10] The life of Martin Luther is something that one could marvel at, but there is more to this man’s story than a whole lot of scholarly achievements and raising questions that ended up causing Christianity to divide. He was a man of great passion and was extremely focused on God, realizing that it was about God and not about himself. When Christ drove the people out of the church saying they made it a den of theives he is angry because he knows that things are not what they should be, and sees what they could become, Martin Luther is another man with the same sort of view. He saw things the way that they could be. This anger was not exclusive to just Luther and Christ, it happens within many men and comes from different places, but what is common is that they are angry at the denial–not to themselves alone, but to their fellowmen as well–of all they have seen of head in their solitude that has been proven in their own personal life. Luther, slated by some as the last angry man of the Reformation, was once quoted saying, â€Å"I never work better, than when I am inspired of anger when I am angry, I can write, pray and preach well, for then my whole temperament is quickened, my understanding sharpened and my mundane vexations and temptations depart. † His life was tumultuous and deep melancholy assaulted him, leaving him weak and desperately ill. Upon tasting the grace of God he was driven with great compassion to preach the unsearchable riches of Christ and publish the Word of God in the native tongue of his countrymen. His passion and resolute faith was so great that it was said that upon hearing him pray people would exclaim: â€Å"How great a spirit, how great a faith, was in his very words! † As a monk he vowed to crucify the flesh through fasting, mortifications, and watchings struggling against deceitful thoughts and the evil inclinations of his heart. Nothing was too great a sacrifice if it would enable him to become a saint of acquired heaven. He was sold out on his quest for attaining holiness. He even claimed himself to be a pious monk stating that, â€Å"If a monk could obtain heaven by his good works, I should, certainly those who have known me can testify. † As he was carrying out this torture on himself he was confronted by John Staupitz, who asked him why he tormented himself the way that he did telling the young Martin, to â€Å"look at the wounds of Christ, to the blood that he has shed for you. † Luther was so wrapped up in literally beating himself up over his sins, he forgot a key element. Staupitz went on to tell him, â€Å"Instead of torturing yourself on account of your sins, throw you self in the Redeemer’s arms. Trust in Him–in the righteousness of His life–in the atonement of His death. † Not long after his conversations with Staupitz, Luther was done being an imitator, keeping to the rules of the religious order, but rather he was a new creation entirely, walking in the full assurance of faith confident that the God that began the good work in him, would perfect His work. For Luther Christ was no longer an option, Christ was the option, or as he said in his Commentary on Galatians, â€Å"Christ is no lawgiver. He is the Lifegiver. † [11] For Luther it was about knowing God, not having a knowledge of God, he was a man full of passion for his Savior, completely sold out on his Master’s plan. It was so much so that he thanked God that he knew enough to believe that God knew more than he did and was able to rest in knowing that that would never change. Knowing that God was greater and surrendering to that knowledge was an undercurrent to Luther’s life, he clung to the word of God for his confidence and promises, not to the tradition of men. [12] The Reformation is a broad term used to describe the period of time beginning around 1500 A. D. extending through the mid-seventeenth century, with roots dating back to around the fourteenth century. Society was in something of an upheaval and the church was faced persistent heresy. In the early stages of the Reformation Martin Luther was the pioneer of that Protestant Reformation that swept over Europe, and who ventured into a new arena of thought in relation to how the Church. [13] The previous writing was a short biographical work of Martin Luther showing some of the events of his life and how through them, he changed the Church as well as contributed to the progress of the Reformation concluding with a look at his life in a way to show more of who Luther was as opposed to what he did.

Burroughs Wellcome Company Essay

In 1982, the Center for Disease Control and Prevention (CDCP) labeled the acquired immune deficiency syndrome (AIDS) and began to warn the public of the disease. In 1983 and 1984, the virus that causes AIDS was isolated and in 1988 it was named the human immunodeficiency virus (HIV). Burroughs Wellcome Company is a subsidiary of Wellcome PLC. Wellcome PLC is a pharmaceutical firm that employs 20,000 people in 18 countries. Wellcome PLC produces both ethical and over the counter medication. Zovirax, which treats herpes infections, accounted for $492 million in sales in 1989 (Kerin & Peterson, 2013). Retrovir, an AIDS treatment, was the second largest seller with $225 million in sales (Kerin & Peterson, 2013). Wellcome PLC also produces over-the-counter Actifed and Sudafed with $253 million in sales in 1989 (Kerin & Peterson, 2013). In 1981, there were 305 reported cases of AIDS, and by 1989 there were 35,198 reported cases of AIDS with numbers expected to continue to rise, although at a much slower rate (Kerin & Peterson, 2013). The majority of victims, almost 90%, were gay men or intravenous drug users, and almost one half of reported cases were in major metropolitan areas, such as San Francisco, Los Angeles, Houston, and New York. Not enough was known about the disease in the early 80’s to create a reliable way to predict its’ rate of growth. Economically, treating AIDS patients was proving to be very expensive, averaging between $70,000 and $141,000 per patient according to a 1987 study by the RAND Corporation (Kerin & Peterson, 2013). Treating some forms of cancer averaged less than half of that cost. Since the income level of many AIDS patients was low, Medicaid covered treatment costs for approximately 40% of the patients, resulting in an Burroughs Wellcome Company,   estimated annual cost to the Medicaid system of between $700 and $750 million in 1988 (Kerin & Peterson, 2013).  Several pharmaceutical companies, including Burroughs Wellcome, were in the  race to produce an effective drug to combat HIV and AIDS. Burroughs Wellcome began research in 1984, developed Retrovir and began clinical trials on humans in 1985 (Kerin & Peterson, 2013). The FDA cleared Burroughs to market Retrovir in 1987, as the first and only authorized treatment for AIDS. Bristol Myers developed a drug called DDI, which appeared to slow the progress of the AIDS virus and lessen the damage it causes (Kerin & Peterson, 2013). Hoffman-LaRoche developed a similar drug called DDC that began clinical trials in 1989 (Kerin & Peterson, 2013). As soon as Burroughs Wellcome was given the authority to market Retrovir in March of 1987, public protests began regarding the perceived high price of the drug. Wholesale price for Retrovir was set at $188 for one hundred 100-mg capsules. The recommended dosage was twelve 100-milligram capsules per day. The average annual treatment for an AIDS patients on Retrovir averaged approximately $8,528-$9,745 (Kerin & Peterson, 2013). The public, media, and advocacy groups compared the price of Retrovir to the cancer drug Interferon. The annual cost to a patient taking Interferon was only $5,000. In December of 1987, due to increased pressure, Burroughs Wellcome, reduced the price of Retrovir by 20%, and again by 20% in September of 1989 (Kerin & Peterson, 2013). The first price reduction was due to a cost savings in the production of synthetically manufactured thymidine while the second was due to an increase in potential patients. By 1989 sales had increased from $24.8 million in 1987 to $2 25.1 million (Kerin & Peterson, 2013). As postulated by industry analysts, the direct cost of research and development (R&D) for Retrovir was estimated at $50 million. Burroughs Wellcome spent an additional $30-50 million in indirect costs to establish a new plant and equipment to produce Retrovir (Kerin & Peterson, 2013). They also donated $10 million worth of Retrovir to 4,500 AIDS patients. Pharmaceutical R&D of a new drug in the US averages around $125 million, so with direct and indirect cost to develop Retrovir was on the low side. Prior to Retrovir, Burroughs Wellcome had spent a reported $726 million for R&D in  the previous five years without producing a single commercial winner (Kerin & Peterson, 2013). Retrovir was designated as an â€Å"orphan drug† in 1985 under the Orphan Drug Act of 1983. This enabled Burroughs Wellcome to gain marketing exclusivity for a sevenyear period after its initial introduction. When Burroughs Wellcome was faced with the task of pricing Retrovir they had to account for many factors. They had to consider the demand for Retrovir. Since they were developing a drug for a fairly new disease, with relatively few patients, they had no way to predict what the demand would be in the next five years. They had to recoup their cost with the known numbers of AIDS in 1987, which were still fairly low. Burroughs Wellcome had to take into account both the direct and indirect cost spent on the R&D of Retrovir that totaled approximately $100 million. With an unknown market and $100 million to recoup they had to price Retrovir fairly high at the beginning. Looming competition was another important aspect for Burroughs Wellcome. They knew other pharmaceutical compan ies were researching drugs to treat AIDS and analysts believed there would be one or more of these drugs on the market by 1991 (Kerin & Peterson, 2013). Burroughs Wellcome still had an ethical obligation to maintain fair pricing while trying to recoup their cost, as well as having an existing obligation to its employees, shareholders, and stakeholders. Most importantly however, is their responsibility to patients that rely on Burroughs Wellcome’s products for their health and well-being With an increasing number of AIDS cases, Burroughs Wellcome had a social and financial responsibility to make the drug Retrovir accessible to those who needed it, while remaining financially viable. It would be socially irresponsible to exploit people with an illness for mass profit gains. Like most other industries, the health care industry is competitive and no business is immune to failure. Because of this, Burroughs Wellcome must remain profitable in order to protect its employees and shareholders as well as to ensure that the company  can continue its research while providing the medical community with effective medicine. As previously mentioned, Burroughs had dropped the price of Retrovir twice: first on December 15, 1987 when a price drop of 20% was justified by synthetically produced thymidine and a second 20% cut due to a further expansion of HIV from 600,000 to one million estimated potential patients, at which point Burroughs’ gross profit margin (70.6%) and return on sales (20%) were comparable to other competitors in the industry (Kerin & Peterson, 2013). When pressured by outside entities about further reducing the price, Sir Alfred Shepard of the Board of Directors said, † There is no plan for another price cut† (Kerin & Peterson, 2013). As a result of this balance between sustainability, profitability, and social responsibility, it was important that Burroughs Wellcome maintained its margins and success, but continued to remain sensitive to price concerns. Furthermore, it would benefit both Burroughs and patients in need of the drug, if  insurance companies provided ade quate coverage on the drug Retrovir, as private insurance companies only covered $250 million annually compared to the $750 million covered by Medicaid (Kerin & Peterson, 2013). In January of 1990, congressional lobbyists began campaigning to reduce excessive profits in the drug industry. This set off a new round of pressure from the U.S. Congress, the media, and AIDS advocacy groups to again reduce the price of Retrovir. In 1987 sales of Retrovir were $24.8 million and net profit before tax was $8 million. Considering the $100 million dollar investment for the development, as well as new plant and equipment, the Return on Investment (ROI) was only 8%; meaning they only recovered about 8% of their initial investment for Retrovir. By fiscal year 1988 the ROI for Retrovir had increased to 52% but the initial investment had still not been recovered. In the five years prior to the sale of Retrovir, Burroughs Wellcome as a whole spent $726 million in R&D with no significant new drug.  The ROI for Retrovir was still less than the company as a whole when considering the investment in R&D. See figure 1 Figure 1 According to Industry analysts it was estimated that the cost of Retrovir was between 30 and 50 cents per capsule (Kerin & Peterson, 2013). Using 40 cents for estimates, it can be determined that in 1987 when the drug first became available for sale the return on sales (ROS) was 28%. Realistically, the cost was probably more towards  the 50 cent per capsule higher end, as producing the AZT required a biological chemical harvested from herring sperm and took months and over 20 chemical reactions to produce (Kerin & Peterson, 2013). Using the high-end estimate the ROS in 1989 was only 23.3%. This is very close to the 23.5% ROS industry average. By 1989 the price of Retrovir had been reduced by 20% twice. Burroughs Wellcome stated the first price reduction in December of 1987 was due to a synthetically manufactured Thymidine becoming available. At this time, ROS was 23.0% using the 40 cent COGS estimate. Due to public pressure for an affordable AIDS treatment Burroughs Wellcome reduced its price again by 20% in September of 1989. At the 40 cent estimated cost this reduced the ROS to16.4%. Even using the low 30 cent estimate the ROA was only 24% which was is still very comparable to the 23.5% industry average. Burroughs Wellcome overall company ROS in 1989, while they were selling Retrovir at the $1.20 price per 100mg, was only 20%, which is over 3% lower than the industry average. Continued pressure to reduce the price again is not warranted. The figures show that to reduce the price another 20% would show at best a low 18% ROS and a possible negative ROS. Comparing Burroughs Wellcome to 1989 industry average shows all their current  ratios are well within what is normal for the industry. They are not the highest or the lowest of Return on Sales, Return on Assets, or Return on Equity. Burroughs Wellcome has two choices at this point. Do not reduce the price or reduce the price. The advantage of not reducing the price is the ability to maintain their current ratios that will allow them to continue their R&D for new drugs. The disadvantage of not reducing price is dealing with the public, media, Congress, and advocacy groups that may continue to increase pressure on Burroughs Wellcome and create further negative publicity. The advantages of reducing the price would be the reduced pressure from the groups mentioned before and the claim of being ethically responsible. The disadvantage of reducing the price would be losing the current ratios. They take the chance to lose profit margin therefore lose some ability to develop new drugs. Although there is public unrest in regards to the price of Retrovir we do not recommend Burroughs Wellcome reduce the price further. Reducing the price of Retrovir without another new drug would further reduce their current ratios, which are all within industry averages. Drug companies need profits as incentive to continue their  research. Especially when there is the very real possibility of going several years without the discovery and approval of a new drug. Although, on the surface, it seems very unfair for a patient to have to spend close to $10,000 per year for treatment, it would be far worse if they didn’t have the treatment as an option at all. Drug companies such as Burroughs Wellcome would avoid trying to develop â€Å"orphan drugs† if they had no chance of recovering cost. This is why government offers subsidies, tax benefits, and grants extending patents for drugs that qualify. In 1989 there were only 35,189 reported cases of AIDS in America and due to prevention awareness and HIV treatments, AID’s numbers were leveling off. Drug companies are taking a  huge risk investing millions of dollars in cures and treatments for rare diseases. In part, the cost for â€Å"orphan drugs† is so high because so few people are consumers of them. While it would be socially conscious for Burroughs Wellcome to drop the price further, they have to remain a viable company. Profits will ensure the financial future of the company as well as all the shareholders and stakeholders of the company. Maintaining the ROI percentages will allow Burroughs to remain viable and competitive allowing them to continue to develop new drugs that may provide further benefit. If they were to drop their prices it would be benefit public relations as they put the needs of the consumers before profits, however in such a competitive environment this could prove to be to a liability in the pharmaceutical industry, therefore, it is advisable that they do not drop their price by another 20%. References Kerin, R.A & Peterson, R.A. (2003) Strategic Marketing Problems: Cases and Comments England: Pearson Education Limited

LearningJournal Essay Example | Topics and Well Written Essays - 6000 words

LearningJournal - Essay Example And it is in this framework that I would like to begin the laying down and sharing of my learning journal. The first time I heard that we are going to do a learning journal, I am little bit apprehensive. And all of it is for the reason that doing a learning journal is something new. In my past experiences, normally what was done in class were discussions whether in class or as a group and what was expected was that everybody would bring their ideas, share it with class and more or less attained an interactive discussion. Therefore, when, we were told that we were to do a learning journal, it was something different for me. To document your thoughts, feelings, ideas, reflections, questions, uncertainties, doubts, dissents and agreements with the articles, the books that I have read and the discussions that I have the chance to be part of is for me taking learning one step higher. This I claim based on the supposition that in doing the learning journal, to go over my own thoughts, put it into a coherent structure and argue with the text, with myself and the entire process, in turn, constru ct and deconstruct my knowledge and understanding of things. Moreover, I have become conscious that every time I go over an article or a book, I am going to have a learning experience. This is a very significant transformation on my part. Since, through learning journal, learning has authentically become engaging, thus opening new challenges and venues with which lessons learned do not remain as lecture notes but as the foundation of other things to learn and guide in the understanding of experiences that are and may be encountered. Before joining the programme, I have not been in the academe for quite a time. Thus, I have some nervousness at the start of the programme. However, as the programme started, I have come to realise that I have acquired the maturity necessary in pursuing this

3800 complete 4 Assignment Example | Topics and Well Written Essays - 750 words

3800 complete 4 - Assignment Example Payne was on his way to Omni and stopped by the highway 78 to wait for a cab. The witness reported that he saw Williams talk to a taxi driver before the two boarded the taxi. There was a station wagon parked on the opposite side of the road. Later, on 27th April 1981, the body of Jimmy Payne was discovered dumped in Chattahoochee River (Terrence, 2005). The medical investigations done on the body showed that the death of Payne resulted from asphyxia through an undetermined method. After lengthy investigations, the state showed evidence that there were seven fiber and hair associations between Payne and Williams. The violet acetate fibers removed from Payne resembled those on Williams’s bed. The green well-man fibers on Payne’s shorts resembled those on Williams’s carpet. The blue-green/blue-gray fibers removed from the victim resembled the rayon fibers in the carpet of the station wagon seen by the witness. The light-yellow fibers found on Payne’s body resembled those found on the defendants blanket in his bedroom. The blue acrylic fibers removed from Payne’s body were consistent with the fibers in the blue throw rug found in Williams’s bedroom. There was also evidence showing that some animal hairs removed on Payne were from Williams’s shepherd dog (Terrence, 2005). The state said that all the fibers presented were lighter that their original counterparts due to exposure to the river. For each murder victim, there were certain fibers that were removed from them and each had a connection with fibers found in the defendant’s house. In the case of Alfred Evans, there were four fiber and hair associations between the defendant and the victim. The fibers fund on Eric Middlebrook, who was aged 14, resembled those on Williams bed spread. The animal hairs found on Evans body were linked to Williams’s dog. Charles Stephen body, who was aged 12, also had fiber evidence that was linked to William. Government agents testified

Macro and micro economics Assignment Example | Topics and Well Written Essays - 500 words

Macro and micro economics - Assignment Example Letting the price of shirts be x and that of computers be y. The two countries might trade if the price of computers is: y=11/12x d) There will be less trade between the two countries. The economic well-being of the citizens of the two countries improves since both can acquire the commodities locally. a) The worker in Brazil. This is because they can produce one ounce of coffee in loess time as compared to the worker in Peru and also produce soya beans at a higher rate. b) The worker in Brazil. This is because they can produce the same amount of coffee as the worker in Peru but at a faster rate or within few minutes. c) Peru will import coffee. Brazil will specialize in producing coffee and hence export to Peru. Peru will specialize in production of soya beans. d) After the country specialize in producing and exporting those commodities which they can produce at a relatively lower cost and import those goods which are relatively expensive to produce.