Analysis of Oxygen Bearing Compunds

Analysis of Oxygen bearing Organic compounds Abstract The Unknown sample in the experiment can be tested to yield results such as 1 ° (primary), 2 ° (secondary), 3 ° (tertiary) alcohols. Tests such as the dichromate test, Tollen’s test, Lucas test, DNPH test and iodoform test would be very useful in determining the type of alcohol that the unknown sample belongs to. In the experiment, the unknown sample underwent series of testing to identify what property of alcohol it belonged to and the result was that it was a primary alcohol. It went through the Dichromate reaction, Tollen’s reaction and finally the Lucas reaction. Introduction â€Å"The analysis of oxygen bearing organic compounds† is an experiment in which a variety of tests are available to identify a compound’s property whether it is a primary, secondary or tertiary alcohol. The tests that are included to come up with such results are interconnected with one another like that of the Dichromate test, followed by the Tollen’s test to yield an aldehyde if positive for mirror coating. The second set of procedure would again start with The Dichromate test, followed by the Tollen’s test and finally the Lucas test to yield either primary alcohol if it became turbid or secondary alcohols as it’s result if it did not turn turbid. The last set of interconnected tests were that of again, the Dichromate test, Followed by the DNPH that would determine if the unknown sample is a Ketone (positive for red-orange precipitate) or a tertiary alcohol (if negative for red-orange precipitate). But before going deeper on what these tests are, what first are the difference between their results which are the primary, secondary and the tertiary alcohols, aldehydes and ketones? Alcohols are compounds in which one or more hydrogen atoms in an alkane have been replaced by an -OH group. Note however that there are different kinds of alcohols and Alcohols are categorized into different classes depending on how the -OH group is positioned and arranged on the chain of the carbon atoms. Chemical differences between the various types are possible. First to be discussed would be the Primary (1 °) alcohol, in which the carbon carrying the -OH group is only attached to one alkyl group. Meanwhile, In a secondary (2 °) alcohol, the carbon with the -OH group attached is joined precisely to two alkyl groups, these alkyl groups that are attached to the carbon chain may be the same or different. In a tertiary (3 °) alcohol, the carbon atom holding the -OH group is attached directly to three alkyl groups, which may be any combination of same or different [1]. On the other hand, another result that can occur would be the presence of ketones and Aldehydes. But again, to understand the experiment further, what are Ketones and aldehydes? A ketone can be characterized as either the functional group categorized by a carbonyl group (O=C) attached to two other carbon atoms or it can be identified as a chemical compound that contains a carbonyl group. A carbonyl carbon bonded to two carbon atoms makes ketones different from carboxylic acids, aldehydes, esters, amides, and other oxygen-containing compounds. The double-bond of the carbonyl group distinguishes ketones from alcohols and ethers. The simplest ketone known is acetone [2]. Lastly among the results is the aldehyde. The term aldehyde seems to have arisen from the wordds alcohol dehydrogenated. Way back in earlier times, aldehydes were at times named after the corresponding alcohols, for example, vinous aldehyde for acetaldehyde. (Vinous is from Latin vinum = wine, the traditional source of ethanol; compare vinyl. ). An aldehyde is an example of an organic compound which has a terminal carbonyl group. This functional group, which consists of a carbon atom bonded to a hydrogen atom and double-bonded to an oxygen atom (chemical formula O=CH-), is commonly called the aldehyde group. The other names for aldehyde group are formyl and methanoyl group. The aldehyde group is considered polar. Oxygen, which is more electronegative than carbon, pulls the electrons in the carbon-oxygen bond in the direction of itself, creating an electron deficiency at the carbon atom. Owing to resonance stabilization of the conjugate base, an ? -hydrogen in an aldehyde is more acidic than a hydrogen atom in an alkane, with a typical pKa of 17 [3]. Results and discussions The experiment included parallel testing of 3 liquids that would be used for comparison. the first sample would be the unknown sample, the second would be the positive standard in which formaldehyde was used and the last wold be the negative sample in which the simplest ketone, Acetone was used. Only three test were used to determine whether the group’s unknown sample was under the category of primary, secondary, tertiary alcohol, aldehydes or ketones. The three tests were done one after the other in this order: Dichromate test, Tollen’s test, and Lucas test respectively. In the Dichromate test, the unknown sample and the formaldehyde turned green meaning that dichromate oxidized the primary alcohol, secondary alcohol, and aldehydes to ketones or carboxylic acids. Samples turning green would be an indicator that the samples are positive for oxidation and therefore are oxidizable. On the other hand, the acetone remained orange which means that it is not oxidizable and can be further continued to another test, the DPNH test which would prove that it is categorized as a ketone because of the presence of a red-orange precipitate that indicates that the DPNH reagent condenses with the carbonyl containing molecules. The second test that followed the Dichromate test was the Tollen’s test. In this test, the unknown sample turned clear gray and the formaldehyde turned into a dark grey liquid with silver streaks. The silver streaks are similar with the silver mirror coat that means that the Tollen’s reagent oxidized the ammonium salts of the carboxylic acids with this, the formaldehyde was categorized as an aldehyde. Alternatively, The clear grey liquid of the unknown sample would indicate that it was not positive for the Tollen’s test and therefore it would need to continue to be tested so as to decipher if it is a primary or secondary alcohol. The last test would be the Lucas test in which the unknown sample did not turn turbid and therefore it was concluded to be a primary alcohol. Together with the unknown sample that did not turn turbid was isopropyl and MeOH which just remained as clear liquids. then again, the sample liquid that turned turbid was the tertbutyl. By this reaction, it is said that alcohols are converted to alkyl chlorides with ZnCl2 taking into consideration too that different alcohol types respond at different rates with ZnCl2. Table 1. Chemical Test |Unknown sample |Standard (+) |Standard(-) | |Dichromate |*unknown sample turned green |*formaldehyde turned green meaning |*Acetone remained orange meaning it| | |meaning it it oxidizable |it is oxidizable |is not oxidizable | |Tollen’s |*unknown sample turned clear gray |*formaldehyde turned dark gray with|*acetone turned very light grey | | | |silver streaks. then turned clear. | |Lucas |*unknown sample did not turn turbid|*Tertbutyl-turned turbid fast |*Acetone- Clear; already not | | | |*Isopropyl-clear |applicable since it is a ketone. | | | |*MeOH-clear | | Experimentation A. An unknown sample was given and it should be parallel tested with two other standards- one would be positive and one would be negative. B. The Dichromate test started the experiment. 8 drops of the unknown sample as well as the the two other standard- formaldehyde and Acetone was placed in separate test tubes addind 2 drops of of 10% K2Cr2O7 and 5 drops of 6M H2SO4. C. The Tollen’s test followed. 2 ml of freshly made Tollen’s reagent and 5 droops of the unknown sample were mixed. After 5 minutes and the silver precipitate did not form yet, it was placed in a 70 degree water bath for another 5 minutes. Then the results were observed. D. The last test was the Lucas test in which the iunknown sample, tertbutyl, isopropyl and MeOH was tested all at the same time. 5 drops of the sample was and 15 drops of concentrated HCl was mixed together with a â€Å"corn grain† amount of ZnCl2 solid and the appearance of turbidity was observed or not. Conclusion: It can be concluded that the unknown sample that was given to be tested was an oxidizable, primary alcohol based on the tests that were conducted. Since it was positive for the dichromate test, it was deemed to be oxidizable. In the Tolle’s test, as it did not produce a mirror coat, it was directed to the choice of being a primary or a secondary alcohol. And for the last test, the Lucas test, it was finally concluded that it was a primary alcohol since it did not turn turbid. References: Books: †¢ Timberlake, Karen C. , â€Å"General, Organic, and Biological Chemistry Structures of Life,Platinum Edition†, Pearson Education, Inc. , 2004 †¢ Bettelheim, F. A. , [et al. ], â€Å"Introduction to organic and biochemistry. 6th ed. †? Belmont, CA : Brooks/Cole, c2007 †¢ Wade, L. G. , . â€Å"Organic chemistry 6th ed. †. Upper Saddle River, N. J. : Pearson Prentice Hall, c2006. Additional On-line sources: †¢ [1] Clarks, j. (2003). Alcohol oxidation. Retrieved September 8 2008 from http://www. chemguide. co. uk/organicprops/alcohols/oxidation. html †¢ [2] N. A, (24 August 2008). Ketones. Wikipedia ®. Retrieved September 8 2008 from http://en. wikipedia. org/wiki/Ketones †¢ †¢ [3] N. A, (31 August 2008). Aldehydes. Wikipedia ®. Retrieved September 8 2008 from http://en. wikipedia. org/wiki/Aldehydes

Mba Spring2011 Merck Sample Group Project

DELAWARE STATE UNIVERSITY (MBA – Spring 2011) Strategic Management Case Study Executive Summary:3 Current Vision4 Current Mission4 Values5 Current Strategies:6 Developed Vision7 Developed Mission7 Reason for new mission8 SWOT Analysis9 External opportunities:9 External Threats:10 Financial and Operating Performance Analysis11 Close Competitors11 Ratio Analysis11 Key Industry Ratios14 Operating Profit margin14 Net Profit margin14 Current Ratio14 Return on Assets15 Debt/Equity Ratio15 Inventory Turnover Ratio15 Revenue Growth16 Market Share16 Internal Strengths16Internal Weakness20 External Factor Evaluation Matrix21 Competitive Profile Matrix23 Internal Factor Evaluation24 Space Matrix27 SWOT Matrix29 Grand Strategy Matrix31 Recommended Strategies31 Recommended strategy No. 1:31 Recommended strategy No. 2:32 Projected Financial Statements33 Projected Ratios34 Company worth Analysis34 Annual Objectives:35 Strategic Review and Evaluation Procedures:35 Bibliography:36 Executive Su mmary: Merck & Co. is a research driven pharmaceutical company involved in manufacturing of pharmaceuticals and drugs.Merck's products are not limited to preventive and therapeutic vaccines. Merck merged with Schering-Plough in November of 2009 for $41billion. Merck is based in Whitehouse Station, New Jersey and has more than 110000 employees. The company has a annual revenue of $45billion during the year ending December 2010. The increase in revenues was mainly due to the incremental sales resulting from the inclusion of the post-merger results of Schering-Plough products. The operating profit of the company was $1,653. 0 million during FY2010, a decrease of 90% over 2009.The net profit was $859 million in FY2010, an increase of 93% over 2009. Merck’s products include preventive and therapeutic vaccines sold by prescription to treat human disorders and to also treat animal health. The company manages many products in different segments. Human health pharmaceutical produc ts consist of prescription therapeutic and preventive agents for the treatment of human disorders. Merck distributes its human health pharmaceutical products to retailers, government, drug companies, health and wellness organizations, and others.Merck's vaccine products are primarily managed and administered at physician offices. These products include preventive vaccines. The US Centers for Disease Control and Prevention Vaccines for Children program is a major customer for some of these vaccines. Merck also manages a clinical pipeline that has products in many different disease domains not limited to diabetes, heart strokes, hyper-tension, inflammatory problems, neurology related diseases, osteoporosis, respiratory, female health and many other prominent and new domains.This pipeline is managed in phases followed by a few ready for registration. Majority of these are subject to FDA approval before commercial manufacturing commences. Merck also manages vaccines for animal health an d this is a growing segment where there is more need for research for prevention of many diseases in animals. In addition to the above many different segments, Merck also manages a portfolio of regular consumer healthcare and manufactures many OTC products, foot and sun care products not just in the USA but also in Canada. Current VisionWe make a difference in the lives of people globally through our innovative medicines, vaccines, and consumer health and animal products. We aspire to be the best healthcare company in the world and are dedicated to providing leading innovations and solutions for tomorrow. (1) Current Mission To provide innovative, distinctive products and services that save and improve lives and satisfy customer needs, to be recognized as a great place to work, and to provide investors with a superior rate of return. (1) | Mission Component| Accomplished? | 1| Customers| No| | Products or Services| Yes| 3| Markets| No| 4| Technology| No| 5| Concern for survival, gro wth and profitability| No| 6| Philosophy| No| 7| Self-Concept| No| 8| Concern for public image| Yes| 9| Concern for employees| Yes| Values Our business is preserving and improving human life. We also work to improve animal health. All of our actions must be measured by our success in achieving these goals. We value, above all, our ability to serve everyone who can benefit from the appropriate use of our products and services, thereby providing lasting consumer satisfaction.We are committed to the highest standards of ethics and integrity. We are responsible to our customers, to Merck employees and their families, to the environments we inhabit, and to the societies we serve worldwide. In discharging our responsibilities, we do not take professional or ethical shortcuts. We are dedicated to the highest level of scientific excellence and commit our research to improving human and animal health and the quality of life. We strive to identify the most critical needs of consumers and cust omers, and we devote our resources to meeting those needs.We expect profits, but only from work that satisfies customer needs and benefits humanity. This depends on maintaining a financial position that invites investment in leading-edge research and that makes it possible to effectively deliver the results of that research. Our ability to excel depends on the integrity, knowledge, imagination, skill, diversity and teamwork of our employees. To this end, we strive to create an environment of mutual respect, encouragement and teamwork. We also strive to reward commitment and performance and be responsive to the needs of our employees and their families. 1) Current Strategies: * The Access Strategy aims at increasing access to medicines, vaccines, and healthcare in the emerging and developed countries. * To ensure safety and quality of products, Merck introduced a ‘Anti-counterfeiting’ strategy to prevent counterfeits across the world. Merck has setup an advanced laborato ry to implement this strategy.* To restore confidence as a quality producer of global vaccines, Merck continues to implement vaccine supply manufacturing strategy. * Merck continues to implement its global diversity strategy. * Merck’s research strategy is designed to mprove productivity and the probability of success and this is monitored by a Research Strategy Review Committee. * The most popular MRL strategy i. e. Merck Research Laboratory strategy is designed to manage the pipeline that uses the expertise to treat many unsolved diseases and health issues. MRL scientists are passionate about resolving and meeting unmet medical needs. * Merck established External Basic Research (EBR) and an EBR strategy are formulated to expand the scope and size of Merck’s early pipeline through partnerships with external partners. * Merck follows a responsible pricing policy thru its worldwide tiered pricing strategy. To foster health literacy in Switzerland, Merck follows the Swis s e-health strategy and as part of this strategy, they work with universities around the world. * Merck formed a Global Labor Relations Strategy to include global labor guidelines and principles and monitoring tools worldwide.* Merck energy management strategy serves as a useful framework in measuring current performance resulting in Merck receiving the Energy Star sustained excellence award. * Merck’s corporate strategy is â€Å"Plan to win†. * Merck has a supply strategy that combines the skills of internal and external manufacturers. (1) Developed Vision Our vision is to be an outstanding and most trusted company in the world’s healthcare and pharmaceutical industry. † Developed Mission We are passionately committed to providing creative, comprehensive and effective health solutions (2) that will improve the health, wellness and quality of life of our customers (1), consumers and partners around the globe for today, tomorrow and forever thru our continu ed superior performance, intelligent and creative employees (9), innovative and qualitative safe products, sustainable and profitable partnerships and by building increased shareholder returns thru this process.We will focus on increasing healthcare access (6) in the local and emerging markets (3) and will strive to use modern environment friendly technology(4) for our scientific innovation to improve productivity and to reduce costs to make our products more affordable. We will serve the society and the eligible people (8) with programs that will provide free and cost effective health solutions. We will collaborate with global research companies to lead and contribute to the resolution of global health issues (7) and we will position ourselves as the best in the industry with sustainable prosperity(5). Mission Component| Accomplished ? | 1| Customers| Yes| 2| Products or Services| Yes| 3| Markets| Yes| 4| Technology| Yes| 5| Concern for survival, growth and profitability| Yes| 6| P hilosophy| Yes| 7| Self-Concept| Yes| 8| Concern for public image| Yes| 9| Concern for employees| Yes| Reason for new mission The current mission is not exciting and does not emphasize on all the key components of an effective mission. The new mission emphasizes on health solutions as a whole versus products and services only. The new mission is targeted towards the wellbeing of the end consumer and not just to save the life.The focus is specifically mentioned to be in all markets including the emerging markets. Modern environment friendly technology will be used to develop safe products that are not counterproductive to the wellbeing of the end consumer. The needy people will be served with effective solutions and the new mission passionately suggests sustainable prosperity while engaging creative and intelligent people building profitable shareholder returns thru the whole process. SWOT Analysis External opportunities: O1 – The recent agreement with Schering-Plough opens mo re avenues for potential growth in the fields of respiratory and infectious disease herapeutic segments. (1) O2 – Possible Cost savings of $3. 5 Billon from internal restructuring efforts beyond 2011. (1) O3 – There is a lot of potential for growth in the Diabetes and Oncology markets and Merck has made its entry into this market thru the product Januvia. O4 – Merck can add core strength to its portfolio by expanding research and innovation in the biological markets thru partners, acquisitions and joint ventures. O5 – Rapidly expanding market share in emerging markets proves to be a high potential opportunity for Merck.Emerging Markets in the Pharma Industry will take 50% Growth Credit by 2013. (2) O6- Increased opportunity for new Generic Drug products. Healthcare reform suggests cost savings and insurance industries emphasize usage of generic drugs and the expiring patents on a lot of drugs opens up opportunity for Merck to pioneer the generic drug mark et leveraging its world-class research capabilities. The total market share of the patents that will expire over 2010-2015 is 17% with a market share of $142billion. (17) O7- Pfizer’s animal health business returned a profit of $2. billion which is second to Merck and with the cancelled joint venture of Merck and Sanofi-Aventis, Merck should further pursue their concept with Novartis who are No. 5 in animal health business. This will strengthen their No. 1 position in the light of Pfizer's growing sales and the merger between J;amp;J and Eli Lilly Co in this segment. (3) External Threats: T1 – At least five of the patents are expiring in the next two years and competition is ready to introduce generic products backed by healthcare reform and this can pose a serious threat to Merck’s products and profitability.T2 – The consumer is not the one that usually makes the choice of using a particular drug. Mostly, drugs are prescribed by physicians, who sometimes lack the necessary information about relative prices. (4) T3 – The recent housing market problem, the oil prices problem and the global recession has a cascading effect on the job market and many people are unemployed losing their health insurance and forced to not being able to use medical or pharmaceutical products.If there is no sales in the pharmaceutical products, Merck can suffer financial losses and reduced returns to shareholders. T4 – The HealthCare Reform enacted in 2010 caused unanticipated losses for Merck and the effects of this Act will continue into future. These new provisions will decrease revenue and increase costs. (5) * 2010 – Costs incurred due to increased Medicaid rebates. With respect to the effect of the law on the pharmaceutical industry, the law increased the mandated Medicaid rebate from 15. 1% to 23. 1%. 2011 – An annual health care reform fee on all branded prescription drug manufacturers and importers and the requirement th at drug manufacturers pay a 50% discount on Medicare Part D utilization incurred by beneficiaries when they are in the Medicare Part D coverage also known as the ‘Donut hole’.T5 – Although not included in the health care reform law, Congress has also considered, and may consider again, proposals to increase the government’s role in pharmaceutical pricing in the Medicare program. (5) T6 –    Congress may again consider proposals to allow, under certain conditions, the importation of medicines from other countries. 5) T7 – Merck is experiencing delay in manufacturing some of its vaccines and this delay can cause a competitor to launch a product that can be manufactured quickly. Financial and Operating Performance Analysis Close Competitors Pfizer Inc. Eli Lilly and Company Ratio Analysis | 2006| 2007| 2008| 2009| 2010| Margins (% of Sales)| | | | | | Revenue| 100. 00%| 100. 00%| 100. 00%| 100. 00%| 100. 00%| COGS| 26. 50%| 25. 40%| 23. 40%| 3 2. 90%| 40. 00%| Gross Margin| 73. 50%| 74. 60%| 76. 60%| 67. 10%| 60. 00%| SG;amp;A| 36. 10%| 31. 20%| 30. 90%| 31. 10%| 28. 80%| R;amp;D| 21. 10%| 20. 20%| 20. 10%| 21. 30%| 23. 90%|Other| 0. 60%| 1. 40%| 4. 30%| 6. 00%| 2. 10%| Operating Margin| 15. 70%| 21. 90%| 21. 20%| 8. 70%| 5. 20%| Net Int Inc ;amp; Other| 12. 40%| -7. 40%| 20. 50%| 47. 00%| -1. 60%| EBT Margin| 27. 50%| 13. 90%| 41. 10%| 55. 80%| 3. 60%| Profitability| | | | | | Tax Rate| 28. 70%| 2. 80%| 20. 40%| 14. 80%| 40. 60%| Net Margin| 19. 59%| 13. 54%| 32. 74%| 47. 03%| 1. 87%| Asset Turnover| 0. 51| 0. 52| 0. 5| 0. 34| 0. 42| (Average)| | | | | | Return on Assets| 9. 92%| 7. 05%| 16. 34%| 16. 20%| 0. 79%| Financial Leverage (Average)| 2. 54| 2. 66| 2. 52| 1. 9| 1. 95| Return on Equity| 25. 00%| 18. 33%| 42. 27%| 33. 15%| 1. 1%| Growth| | | | | | Revenue Growth| | | | | | Year over Year| 2. 80%| 6. 90%| -1. 40%| 15. 00%| 67. 70%| 3-Year Average| 0. 20%| 1. 80%| 2. 70%| 6. 60%| 23. 90%| 5-Year Average| -13. 90%| -1 4. 10%| 1. 20%| 3. 60%| 15. 90%| 10-Year Average| 1. 30%| 0. 20%| -1. 20%| -1. 80%| 1. 30%| Operating Income| | | | | | Year over Year| -36. 00%| 49. 30%| -4. 50%| -52. 80%| -0. 70%| 3-Year Average| -24. 90%| -7. 20%| -3. 00%| -12. 30%| -23. 50%| 5-Year Average| -18. 30%| -11. 40%| -9. 60%| -18. 50%| -15. 60%| 10-Year Average| -3. 40%| -0. 70%| -2. 30%| -10. 90%| -12. 60%| EPS| | | | | | Year over Year| -3. 30%| -26. 60%| 144. 0%| 55. 20%| -95. 00%| 3-Year Average| -11. 40%| -17. 00%| 20. 10%| 40. 70%| -42. 70%| 5-Year Average| -8. 40%| -13. 90%| 4. 50%| 16. 70%| -33. 20%| 10-Year Average| 2. 60%| -2. 30%| 5. 40%| 8. 70%| -20. 90%| Cash Flow Ratios| | | | | | Operating Cash Flow Growth-YOY| -11. 10%| 3. 50%| -6. 10%| -48. 40%| 219. 00%| Free Cash Flow Growth-YOY| -6. 80%| 3. 50%| -11. 90%| -63. 40%| 373. 40%| Cap Ex as a % of Sales| 4. 30%| 4. 20%| 5. 40%| 5. 30%| 3. 60%| Free Cash Flow/Sales| 25. 56%| 24. 75%| 22. 11%| 7. 04%| 19. 88%| Free Cash Flow/Net Income| 1. 3| 1. 83| 0. 68| 0. 15| 10. 64| Liquidity/Financial Health| | | | | |Current Ratio| 1. 2| 1. 23| 1. 35| 1. 8| 1. 86| Quick Ratio| 0. 95| 0. 97| 0. 65| 1. 03| 1. 25| Financial Leverage| 2. 54| 2. 66| 2. 52| 1. 9| 1. 95| Debt/Equity| 0. 32| 0. 22| 0. 21| 0. 27| 0. 28| Efficiency| | | | | | Days Sales Outstanding| 50. 3| 52. 4| 56. 7| 69. 1| 55. 4| Days Inventory| 104. 2| 108. 5| 136. 1| 209. 2| 138. 1| Payables Period| 29. 4| 33. 3| 40. 6| 57. 8| 45. 1| Cash Conversion Cycle| 125. 1| 127. 6| 152. 3| 220. 5| 148. 4| Receivables Turnover| 7. 3| 7| 6. 4| 5. 3| 6. 6| Inventory Turnover| 3. 5| 3. 4| 2. 7| 1. 7| 2. 6| Fixed Asset Turnover| 1. 6| 1. 9| 2| 1. 8| 2. 6| Asset Turnover| 0. 5| 0. 5| 0. | 0. 3| 0. 4| Reference – (6) Key Industry Ratios Operating Profit margin 2010| MERCK| PFIZER| Eli Lilly and Company | Operating Profit margin| 5. 2| 20. 3| 28. 3| Merck had Operating Profit margin of 5. 2 OPM%. Merck Operating profit margin is low when compared to competitors; this indicates that there is scope for improving the cost structure. Net Profit margin 2010| MERCK| PFIZER| Eli Lilly and Company | Net Profit margin| 1. 87| 12. 18| 21. 97| Merck had a Net Profit margin i. e. , 1. 87 NPM%. Merck NPM is lower than its competitors. A net profit margin indicates that there is scope for improving the capital structure.Huge percentage drop when compared to 2009 (47%). Current Ratio 2010| MERCK| PFIZER| Eli Lilly and Company | Current Ratio| 1. 86| 2. 11| 2. 09| Current Ratio: Merck has Current Ratio of 1. 8, which shows that Merck may meet short-term obligations. Current Ratio 2. 0 is considered good to meet short-term financial obligations. Return on Assets 2010| MERCK| PFIZER| Eli Lilly and Company | Return on Assets| 0. 79| 4. 05| 17. 34| Return on Assets (ROA): Merck has ROA of 0. 79%, which indicates its assets are NOT at optimum their utilization. Debt/Equity Ratio 2010| MERCK| PFIZER| Eli Lilly and Company |Debt/Equity Ratio| 0. 28| 0. 44| 0. 55| Debt/equity ratio (D/E ratio ): Merck had D/E ratio of . 27, which is good. Inventory Turnover Ratio 2010| MERCK| PFIZER| Eli Lilly and Company | Inventory Turnover Ratio| 2. 6| 1. 6| 1. 6| Inventory Turnover Ratio: Merck has a 2. 6 times turnover ratio, which is good when compare to competitors. It also suggests that loss of sales as it will not have sufficient stock in hand. Revenue Growth 2010| MERCK| PFIZER| Eli Lilly and Company | Revenue Growth| 67. 7| 35. 6| 5. 7| Revenue growth: Merck Sales growth rate is 67%, Revenue growth is very good when compared to competitors.New products Isentress and Januvia  sales boosted revenue. Market Share Market share: – Total Pharmacy industry share is $836 billion and Merck has $46 billion, stands one of the largest company in 2010 – 5. 5 % of Global Market. Internal Strengths S1 – Merck maintains strong financial health despite the $8. 5 billion debt needed for the acquisition. Analysts are predicting that the combined company will generate a $12 billion cash flow in 2011 which should help repay the debt quickly. (7) S2 – Majority of the blockbuster products introduced recently showed very strong sales.Especially, Januvia (diabetes), Isentress (HIV), and Gardasil. (7) S3 – Merck has strong earnings when compared to the industry. | Stock| Industry| S;amp;P 500 | Stock's 5Yr Average*| Price/Earnings| 122. 0| 17. 7| 16. 6| 40. 7| Price/Book| 1. 9| 2. 6| 2. 2| 4. 0| Price/Sales| 2. 3| 2. 6| 1. 4| 3. 5| Price/Cash Flow| 9. 8| 10. 1| 8. 5| 19. 9| Dividend Yield %| 4. 5| 3. 4| 1. 7| —| S4 – Merck’s latest acquisition of Schering results in a $6 billion pipeline of drugs with the potential of multiple blockbusters and very few patent losses are expected over the next couple of years.It is predicted that the combination of the two entities should generate $3 billion plus in annual cost savings before 2011. (8) S5 – Global market presence along with production facilities. Merck operates in 120 countries with 31 factories worldwide. (9) Merck follows a unique strategy of integrated markets as below. (10) S6 – Merck is well positioned in some Emerging Markets and is showing robust growth in China and is actively searching for a partner in India. Merck has developed a separate strategy for positioning itself as numero uno in emerging markets. 11) & (12) S7- A vast diversified product portfolio in Medicines, Vaccines, Biologics, Consumer Care and Animal Health. (12) S8 – It has various  patient assistance programs  in U. S. to help the people who are unable to afford the medical treatment in terms of medicine if household income is less than 400% of Federal Poverty Level. (13) S9 – The firm has robust in-house research capabilities that also make it a leader in designing new medical products. Internal Weakness W1 – EPS dropped from $0. 28 from $5. 7 mainly due which reflect a net unfavorable impact resulting from the amortization of purcha se accounting adjustments, in-process research and development (â€Å"IPR&D†) impairment charges, including a charge related to the vorapaxar clinical development program, restructuring and merger-related costs, as well as a legal reserve relating to Vioxx (the â€Å"Vioxx Liability Reserve†) discussed below, partially offset by the gain recognized on AstraZeneca’s exercise of its option to acquire certain assets. (5) W2 – Singulair is Merck’s largest volume selling pharmacy product with a annual sales of $3. billion as of 2010 and this is expiring in Aug 2012. (5) On top of this, FDA announced that a potential link exists between this product and suicidal behavior. (14) W3 – Few of Merck’s late-stage pipeline products did not get approved by FDA. Following drugs did not get FDA approvals anacetrapib for atherosclerosis, cholesterol drug Tredaptive, Rolofylline for heart disease and Telcagepant for migraines. W4 – The firm faced lawsuits on Vioxx product on increased chances of heart attack and Merck Agreement Provides for $4. 85 Billion Vioxx Settlement Payment. 15) W5 – Merck settled a lawsuit with J&J for $500 million over a dispute on two anti-inflammatory records. Merck also looses marketing rights in some areas. (16) W6 – Merck’s Current ratio is 1. 8, has a limited liquidity position as compared to its competitors. W7 – Merck has minimal presence in the Generic Drug Market. External Factor Evaluation Matrix | External Factor Evaluation Matrix (EFE)|   |   |   |   | Opportunities| Weight| Rating| Weighted Score| 1. | O1 – The recent agreement with Schering-Plough opens more avenues for potential growth in the fields of respiratory and infectious disease therapeutic segments | 0. 8| 4| 0. 32| 2. | O2 – Possible Cost savings of $3. 5 Billon from internal restructuring efforts beyond 2011. | 0. 10| 3| 0. 30| 3. | O3 – There is a lot of po tential for growth in the Diabetes and Oncology markets and Merck has made its entry into this market thru the product Januvia | 0. 05| 3| 0. 15| 4. | O4 – Merck can add core strength to its portfolio by expanding research and innovation in the biological markets thru partners, acquisitions and joint ventures| 0. 05| 1| 0. 05| 5. | O5 – Rapidly expanding market share in emerging markets proves to be a high potential opportunity for Merck.Emerging Markets in Pharma Industry to take 50% Growth Credit by 2013 | 0. 10| 3| 0. 30| 6. | O6- Increased opportunity for new Generic Drug products through more focus on quality R&D. Healthcare reform suggests cost savings and insurance industries emphasize usage of generic drugs and the expiring patents on a lot of drugs opens up opportunity for Merck to pioneer the generic drug market leveraging its world-class research capabilities. The total market share of the patents that will expire over 2010-2015 is 17% with a market shar e of $142billion. | 0. 15| 2| 0. 30| 7. | O7- Pfizer’s animal health business returned a profit of $2. billion which is second to Merck and with the cancelled joint venture of Merck and Sanofi-Aventis, Merck should further pursue their concept with Novartis who are No. 5 in animal health business. This will strengthen their No. 1 position in the light of Pfizer's growing sales and the merger between J;amp;J and Eli Lilly Co in this segment| 0. 02| 3| 0. 06| | | | | | | Threats| Weight| Rating| Weighted Score| 1. | T1 – At least five of the patents are expiring in the next two years and competition is ready to introduce generic products backed by healthcare reform and this can pose a serious threat to Merck’s products and profitability| 0. 5| 2| 0. 30| 2. | T2 – The consumer is not the one that usually makes the choice of using a particular drug. Mostly, drugs are prescribed by physicians, who sometimes lack the necessary information about relative prices. | 0. 05| 3| 0. 15| 3. | T3 – The recent housing market problem, the oil prices problem and the global recession has a cascading effect on the job market and many people are unemployed losing their health insurance and forced to not being able to use medical or pharmaceutical products. If there is no sales in the pharmaceutical products, Merck can suffer financial losses and reduced returns to shareholders. 0. 08| 3| 0. 24| 4. | T4 – The HealthCare Reform enacted in 2010 caused unanticipated losses for Merck and the effects of this Act will continue into future. These new provisions will decrease revenue and increase costs. | 0. 08| 2| 0. 16| 5. | T5 – Although not included in the health care reform law, Congress has also considered, and may consider again, proposals to increase the government’s role in pharmaceutical pricing in the Medicare program. | 0. 03| 3| 0. 09| 6. | T6 – Congress may again consider proposals to allow, under certain conditio ns, the importation of medicines from other countries. 0. 03| 3| 0. 09| 7. | T7 – Merck is experiencing delay in manufacturing some of its vaccines and this delay can cause a competitor to launch a product that can be manufactured quickly. | 0. 03| 2| 0. 06|   | TOTALS| 1. 00|   | 2. 57| Competitive Profile Matrix Competitive Profile Matrix (CPM)| | Merck| Pfizer| Eli Lilly and Company | Critical Success Factors| Weight | Rating| Score| Rating| Score| Rating| Score| Global Expansion| 0. 10| 3| 0. 30| 3| 0. 30| 4| 0. 40| Market Penetration| 0. 06| 4| 0. 24| 4| 0. 24| 2| 0. 12| Pipeline| 0. 15| 3| 0. 45| 4| 0. 60| 2| 0. 30| Patents| 0. 8| 4| 0. 72| 3| 0. 54| 2| 0. 36| R;amp;D| 0. 17| 3| 0. 51| 4| 0. 68| 2| 0. 34| Financial Profit| 0. 05| 2| 0. 10| 3| 0. 15| 4| 0. 20| Customer Loyalty| 0. 00| 3| 0. 00| 3| 0. 00| 2| 0. 00| Market Share| 0. 08| 4| 0. 32| 4| 0. 32| 3| 0. 24| Product Quality| 0. 06| 1| 0. 06| 2| 0. 12| 2| 0. 12| Generic Drugs| 0. 15| 2| 0. 30| 3| 0. 45| 2| 0. 30 | Totals| 1. 00|   | 3. 00|   | 3. 40|   | 2. 38| * Global Expansion: Merck is in 121 countries Pfizer is in 150 countries Eli Lily is in 143 countries. * Pipeline: 94 in Pipeline for Pfizer, Lilly has 15 and 57 in Merck Pipeline excluding registration. Patents: Pfizer has 11 basic patent products and Lily has 8 basic patent products and Merck has 29 basic patent products. * Financial Profit : EPS – Lilly has EPS 4. 58 Merck has 0. 28 Pfizer has 1. 02. * Market Share : Merck has $45 billion and Pfizer has $67 and Lilly has $23 billion. * Product quality : Merck has two major lawsuits whereas Pfizer has one and Lilly has one. * Generic Drugs : Pfizer has 59 generic drugs which is more than what Merck has and what Lilly has Merck is still entering into different JVS with SUN and other pharma companies. Internal Factor Evaluation Internal Factor Evaluation Matrix (IFE)|   |   |   |   | Strengths| Weight| Rating| Weighted Score| 1. | S1 – Merck maintains stro ng financial health despite the $8. 5 billion debt needed for the acquisition. Analysts are predicting that the combined company will generate a $12billion cash flow in 2011 which should help repay the debt quickly. | 0. 05| 4| 0. 20| 2. | S2 – Majority of the blockbuster products introduced recently showed very strong sales. Especially, Januvia(diabetes), Isentress(HIV), and Gardasil. | 0. 08| 4| 0. 32| 3. | S3 – Merck has strong earnings when compared to the industry. | 0. 04| 3| 0. 12| 4. S4 Merck’s latest acquisition of Schering results in a $6 billion pipeline of drugs with the potential of multiple blockbusters and very few patent losses are expected over the next couple of years. It is predicted that the combination of the two entities should generate $3 billion plus in annual cost savings before 2011. | 0. 15| 4| 0. 60| 5. | S5 Global market presence along with production facilities. Merck operates in 120 countries with 31 factories worldwide. | 0. 06| 3 | 0. 18| 6. | S6 Merck is well positioned in some Emerging Markets and is showing robust growth in China and is actively searching for a partner in India.Merck has developed a separate strategy for positioning itself as numero uno in emerging markets. | 0. 15| 3| 0. 45| 7. | S7 A vast diversified product portfolio in Medicines, Vaccines, Biologics, Consumer Care and Animal Health. | 0. 05| 3| 0. 15| | | | | | | Weaknesses| Weight| Rating| Weighted Score| 1. | W1 EPS dropped from $0. 28 from $5. 67 mainly due which reflect a net unfavorable impact resulting from the amortization of purchase accounting adjustments| 0. 04| 2| 0. 08| 2. | W2 Singulair is Merck’s largest volume selling pharma product with a annual sales of $3. 2 billion as of 2010 and this is expiring in Aug 2012. 0. 10| 1| 0. 10| 3. | W3 Few of Merck’s late-stage pipeline products did not get approved by FDA. Following drugs did not get FDA approvals anacetrapib for atherosclerosis, cholesterol drug Tredap tive ,Rolofylline for heart disease ,Telcagepant for migraines| 0. 10| 1| 0. 10| 4. | W4 The firm faced lawsuits on Vioxx product on increased chances of heart attack and Merck Agreement Provides for $4. 85 Billion Vioxx Settlement Payment. | 0. 04| 2| 0. 08| 5. | W5 Merck settled a lawsuit with J;amp;J for $500 million over a dispute on two anti-inflammatory records. Merck also looses marketing rights in some areas. 0. 04| 2| 0. 08| 6. | W6 Merck Current ratio is 1. 8, has a limited liquidity position as compared to its competitors. | 0. 05| 2| 0. 10| 7. | W7 Merck has minimal presence in Generic Drug Market. | 0. 05| 1| 0. 05|   | TOTALS| 1. 00|   | 2. 61| Space Matrix Financial Position: * Return on Investment is Average when compare to Industry. * Leverage: Compared to the industry standard, leverage or debt equity ratio of Merck is more industry is whereas Merck is 0. 27. * Liquidity: Current Ratio is around 1. 8. Above 2. 0 is preferred to meeting Short-term obligations. * Working Capital: Working Capital is low. Cash Flow: Cash Flows for 2010 is very good which is around $9 billion. Industrial Position: * Growth Potential: Revenues are up by 67% and successful new product launches. And successful merger with Schering Plough * Financial Stability: After M;amp;A, company financially is in difficult position, but in long-term it will do better. * Ease of Entry into Market: As Merck already exists in multiple markets and different pharma domains, ease of entry into market is considered high for Merck * Resource Utilization: Merck has ROA of 0. 79%, which indicates its assets are NOT at optimum their utilization. Profit Potential: As free cash flows are high, profit potential is more. Competitive Position: * Market Share: Second in global position * Product Quality: Two products have litigations. * Customer Loyalty: Due to Voixx and other products side effects, customer loyalty became average. * Technological know-how: Getting new biotechnology and bio-p harma industry. * Control over Suppliers and Distributors: Merck has control on Suppliers and Distributors. Sustainability Position: * Rate of Inflation: Same as like other products * Technological Changes: Minimal * Price Elasticity of Demand: As more are patent products, the effect will be less. Competitive Pressure: Yes, there is lot of competition with pharma and other generic drug products. * Barriers to Entry into Market: Minimum Barriers. SWOT Matrix SO Strategies: * S5O5O6: Healthcare reform emphasizes a paradigm shift to generic drugs from branded drugs and 17% of the patented drugs are going to expire by 2015 and this is an opportunity of $142 billion and there are not a lot of market players in this segment yet. Merck can take advantage of this upcoming situation and start working on generic drugs in the pipeline to be released in the established and emerging markets.We believe Merck should be able to tap into at least $50billion by this strategy. * S4O4O1: Merck’s merger with Schering results in a $6billion of pipeline of drugs and not many patents are expiring in this set. This strategy will result in $3billion of savings before 2011. Merck should further expand their research and innovation thru joint ventures and innovations in the current, biogenetics and other potential domains and follow a market penetration strategy in current and emerging markets.Merck should further expand their research and innovation thru joint ventures and innovations in the current, biogenerics and other potential domains and follow a market penetration strategy in current and emerging markets. ST Strategies: * S6T4T1: Healthcare reform can cause major losses in the domestic market and many laws of healthcare are not yet in implementation and the result of this will continue thru 2014 and so, Merck should start expanding globally beyond its current footprint and should focus on generic drugs as a majority of the emerging markets prefer inexpensive drugs compared to branded expensive drugs.The savings here are double-edged as we minimize the effect of healthcare reform oriented costs and we expand globally and earn more before competition takes over. The potential savings by this strategy is estimated to be a minimum of $4billion in the next one year considering we have a good presence in many established and emerging markets. * S7T2: Merck should start implementing a pharmacy management program by working closely with physicians and customers to deliver a one-of-a-kind integrated specialty pharmacy in every national segment that is part of Merck's client advisory board.This pharmacy management program specifically targets specialty medications for a number of chronic conditions and helps them better understand their condition, medication side effects, and the importance of adherence. WO Strategies: * W2O6O5W7: Singuliar is a branded product of Merck the patent of which is going to expire in 2012 and Merck should equip itself by penetrating into the generic drugs market that will substitute Singuliar and Merck should rapidly expand in emerging markets and focus on improving in existing markets to position itself better for the post patent expiration loss of sale. W3O4: FDA's denial of products in research and development can setback the product development lifecycle timeline during which competition can catch up and release their own branded or generic drug and so Merck should expand its research and innovation to adopt latest technologies for quicker innovation and also use joint ventures or partners or possible acquisitions to quickly supplement its lacunae in the research areas and thereby position itself for success. WT Strategies: * T1W2: More than six of Merck's patents are expiring in the near term.The additional capacity realized upon the cessation of Singuliar manufacturing should be used for high potential drugs which will face limited competition. The high potential drugs in the pipeline approved by FDA sho uld be made ready for use for the additional capacity. * W3T3: The current recession caused by multiple problems can hit Merck's profitability and the failure of FDA approvals can cause further sunk losses in the research and development area. Merck should look into outsourcing research and development to places where it is inexpensive for research.Grand Strategy Matrix The extensive analysis of Merck suggests the first quadrant of the Grand Strategy Matrix. Merck is in a good long term strategy and should continue to pursue its strategic plans and the recommended strategies. Recommended Strategies Recommended strategy No. 1: Healthcare reform emphasizes a paradigm shift to generic drugs from branded drugs in an effort to save money for the consumers and to eliminate undue profits for the healthcare or pharma industries. 7% of the patented drugs are going to expire by 2015 and this is an opportunity of $142 billion and there are not a lot of market players in this segment yet. Merck can take advantage of this upcoming situation and start working on generic drugs in the pipeline to be released in the established and emerging markets. We believe Merck should be able to tap into at least $50billion by this strategy over the next five years with an immediate return of $15billion in the upcoming fiscal year.More research and development can be leveraged by outsourcing research and development into areas where it’s more productive for the investment. A more detailed vision of this strategy in monetary terms is presented in the next section to give the audience a perspective of how this strategy is beneficial in making Merck the number one in the industry with sustainable prosperity laying the foundation to diversify into pharmacy management program in light of the healthcare reform. Recommended strategy No. 2:Merck should start implementing a pharmacy management program by working closely with physicians and customers to deliver a one-of-a-kind integrated spe cialty pharmacy in every national segment that is part of Merck's client advisory board. This pharmacy management program specifically targets specialty medications for a number of chronic conditions and helps them better understand their condition, medication side effects, and the importance of adherence. More research and development is suggested in areas that Merck can improve upon and the excess capacity that will be obtained after Singular should be used for pipeline products.This will position Merck as a differentiator in not just health but the health and wellness industry and will form a close nexus with physicians and customers while pursuing research in the most needed areas to improve life and wellbeing as visualized in the revised mission. Projected Financial Statements Projected Income Statement| | | | | 2010| 2011| | Revenue| 45,987. 00| 62832| Around $17 bln increase due to new strategies| COGS| 18,396. 00| 21991. 2| 35% of revenue| Gross Profit| 27,591. 00| 40840. 8| | | | | | Operating Expenses $Mil| | | | SG&A| 13,245. 00| 15708| 25% of sales | R&D| 10,991. 0| 13991| allocated $3 billion more| Other| 985| 985| | Pharmacy Management| | 200| | New Market Development expense| | 300| | Operating Income| 2,370. 00| 9656. 8| | Other Income and Expense $Mil| | | | Net Int Inc & Other| -717| -717| | Earnings Before Taxes| 1,653. 00| 8939. 8| | Income Taxes| 671| 3575. 92| 40% tax| Earnings After Taxes| 982| 5543. 88| | Acctg Changes| —| | | Disc Operations| —| | | Ext Items| -123| -123| | Net Income| 859| 5420. 88| | Diluted EPS, Cont Ops$| 0. 28| 0. 37| | Diluted EPS$| 0. 28| 0. 37| | Shares| 3,120. 00| 3208| | | | | | Project Balance Statement| | | |Assets $Mil| | | | | 2010| 2011| | Cash and Equiv| 10,900. 00| 11500| | Short-Term Investments| 1,301. 00| 1320| | Accts Rec| 7,344. 00| 11016| 50% increase| Inventory| 5,868. 00| 7335| 25% increase| Other Current Assets| 3,651. 00| 4250| | Total Current Assets| 29,064. 00| 354 21| | Net PP&E| 17,082. 00| 19555| | Intangibles| 51,834. 00| 52544| | Other Long-Term Assets| 7,801. 00| 8022| | Total Assets| 105,781. 00| 150963| | | | | | Liabilities and Stockholders' Equity $Mil| | | | | 2010| 2011| | Accts Payable| 2,308. 00| 2828| | Short-Term Debt| 2,400. 00| 2605| | Taxes Payable| 1,243. 0| 1300| | Accrued Liabilities| 8,514. 00| 8914| | Other Short-Term Liabilities| 1,176. 00| 1220| | Total Current Liabilities| 15,641. 00| 16867| | Long-Term Debt| 15,482. 00| 18282| | Other Long-Term Liabilities| 20,282. 00| 30455| | Total Liabilities| 51,405. 00| 55604| | Total Equity| 54,376. 00| 85359| | Total Liabilities ;amp; Equity| 105,781. 00| 150963| | Projected Ratios | 2010| 2011| Debt/Equity Ratio| 0. 28| 0. 65| Return on Assets| 0. 79| 3. 59| Net Profit margin| 1. 87| 8. 6| EPS| . 28| 1. 49| Company worth Analysis Net Worth Analysis |   | |   | Stockholders Equity| $66,754,000,000 |Net Income x 5| $4,295,000,000 | (Share Price/EPS) x Net Income| $104, 429,857,143 | Number of Shares Outstanding x Share Price| $104,948,066,926 | Method Average| $70,106,731,017 | Annual Objectives: * A projected increase in sales of $18bn is to be expected for 2011 and reduction of Singuliar sales will be $3bn resulting in $15bn. * An additional expense of $3bn for research and development is assumed for 2011 as part of recommendation 2. * A new category of expenses called â€Å"Pharmacy management expenses† will appear in statement for the amortization expenses of the start up of pharmacy management. A spike in interest of $200mn should be planned for due to the loan required for pharmacy management. * The pharmacy management program is expected to yield $2bn in profits in the first year. * New market development expenses should be planned for $300mn. * Merck should plan on generating equity to the tune of $30bn in the year 2011 to meet the expenses related to increased sales. Strategic Review and Evaluation Procedures: * At the end of the y ear, Merck should compare the stated objectives with the actual data.A re-evaluation of IFE and EFE should be implemented and should be checked for variance against the current IFE and EFE. * If no major variance is observed, the same strategies can be continued thru the following year. At the same time, if the result of these strategies position Merck in a better place, few more aggressive quadrant strategies should be evaluated and considered at that moment. * In the case of a situation where a wide variance is observed from the planned strategies, corrective actions are recommended after careful evaluation of factors from all relevant dimensions to check the main cause/s of the variance.A revised vision, mission and objectives may be needed at that moment in light of the new changes in external and internal factors. * We would also like to recommend usage of a balanced scorecard to evaluate the firm from multiple dimensions and ensure the overall progress of the firm follows the trajectory. * Key performance indicators should be evaluated from time to time internally against the plans or annual objectives and with industry standards for averages to identify any needed changes to the strategy.

Magnificent play Essay

Language is extremely powerful in ‘The Crucible’. Miller’s words are used effectively and do not include anything unnecessary to convey the idea. For instance, ‘She thinks to dance with me on my wife’s grave. And well she might, for I thought of her softly. God help me, I lusted, and there is a promise in such sweat. But it is a whore’s vengeance and you must see it, I set myself entirely in your hands. ‘ This quote consists of simple speech and tells a straightforward message. Proctor knows his mistake and regrets it, but he also knows he must reveal it to the court in order to stop the trials. Another example of a powerful quote is ‘A person is either with this court or he must be counted against it, there be no road between. ‘ This quote is very effective in a way Danforth is telling everyone their fate. He is saying those against the court are evil and will suffer the consequences for it, presumably death. he tells everyone in favour of the witch trials that they are victorious and have nothing to worry about if they carry on as they are doing. The theme of this play I believe is a very interesting one. In my opinion ‘The Crucible’ is about rising over adversity, standing for the truth even to the death. there are many examples in the play to support my opinion. John in the beginning wanted to keep distant from the trials, he didn’t want to have a part whether good or bad, but when Elizabeth was arrested he was forced to take part. Throughout the trial, he stood for the truth. He confessed to his affair and was forgiven for his sin. He died a hero learning what truth really meant through his sufferings and struggles. there is also a great deal of hysteria in this play. The village’s people were easily manipulated by Abigail’s lies and came to quick poorly judged conclusions, which lead to killing a great many innocent people. Act 3 is very strong most of the main things are revealed such as the court’s verdict, who is right and who is wrong, who will win and who will die. It is an extremely gripping part of the play, telling how Proctor was so close to victory (through his confession and Mary Warren) yet he still defeated by the envy of Abigail, or rather the loyalty of Elizabeth and the fearful Mary warren. He knows he will die but he also knows he has a chance of stopping this fate yet because of his decency Proctor decides he would rather face death than bring trouble upon his friends and everlasting shame upon his family. I also noticed that in act 3 the three main sides are shown clearly. The power hungry stand together, those full of jealousy, greed, hate and lust join and those who are willing to sacrifice themselves for the truth unite. The people in this play may have had different motives for accusing other people, and practically sentencing them to death, but the outcome of all accusations was more or less the same. Innocent people died and there was more than one person to lay the blame on. In almost every conflict, there is someone or some people to hold responsible. In this case, it was Abigail for her manipulative nature, the Putnam’s for their greed, Mary Warren for being weak-willed and Rev. Parris for craving power. It makes one wonder how such a diminutive act of young girls could lead to such destruction of a community. How could innocent people be sentenced to death simply because some girls were playing and dancing? This is the power of religion and the annihilation it can cause if people refuse to tolerate any other explanation and follow it blindly. ‘The Crucible’ is a magnificent play, superbly written conveying one simple message. It is better stand for the truth and sacrifice yourself than to live with a lie. It reminds us that man is not perfect, and that we can make mistakes. However, even with these mistakes, we can cleanse ourselves and purify ourselves by making what is wrong right.

There is two questions. And i will place them in instruction later Essay

There is two questions. And i will place them in instruction later. Because there is words limitation - Essay Example not just restricted to the textual analysis domain, but can also be used on various areas like coding of students’ drawings or actions that are observed in various videotaped studies. Krippendorff (2009) says that therefore, one can conclude that the content analysis process is a big motivator to the researcher, who often looks for techniques that he can use is in inferring from different forms of symbolic data, which would have been very costly to undertake, obstructive or quite impossible if other techniques would have been used. In order to get the desired results it is important that the researcher understands the steps to be followed in doing the content analysis process. First, the researcher has to understand the process itself comprehensively before beginning on the following steps listed below. The decision to use the content analysis process in the research process should be preceded by clear objectives, which outline the kinds of questions to be answered. The development of these questions should be based on the prevailing needs of the project, as well as the data available. Precisely, it is important to realize that worded questions are very effective in providing the right focus for the data collection process, analysis, as well as reporting. The content analysis process is effective in answering questions involving â€Å"what?† and not â€Å"why?† in this regard, it is very essential in assisting analysts in describing and summarizing written material content, attitudes as well as the perceptions that the writer had, including its effects on the targeted audience. Before the decision to use the content analysis process, the project staff is supposed to effectively assess all the written materials in order to determine their quality. They need to find out if the material available is an actual representation of the written material or what is said. Any material that has some missing information cannot be used effectively in the analysis process.

Entrepreneurship Solves Low-income Housing in Chicago Essay

Entrepreneurship Solves Low-income Housing in Chicago - Essay Example This violence did not stop as they continued for long, whereby it claimed the live of a seven-year old boy in the year 1992. The boy was downed by a stray bullet as he was on his way to school. However, the most aggressive attack that was experienced in the area happened in the year 1997, when a nine-year old girl was cruelly attacked, choked, raped and then poisoned, which left he in a position that she could not be able to talk or walk. The then mayor of Chicago, Jane Byrne, in the year 1981 decided to move into the complex and stay there for some few months so as to ascertain and see for herself the seriousness of the problems of the housing project (Venkatesh, et al 37). Abolishing the project to eradicate the problem The arrangement to demolish the Cabrini-Green project was part of an extensive program. The Chicago Housing Authority, in the year 2000, made an announcement on an arrangement to bring down ass the public housing projects that were in the city as part of the Hope VI , which is a national project aimed at abolishing housing projects across the nation due to their apparent failure in solving the problem of cheap and affordable housing in the city and country as a whole (Venkatesh, et al 41). Notwithstanding the terrible conditions of the Cabrini-Green, the people who lived there ganged up against the plans of redevelopment that had been offered by the planners of the city. Nevertheless, the community was apprehensive of the fact that the new mixed-income housing project would force out the longtime residents of Cabrini-Green. However, some individuals decided to stay in their units vowing never to vacate, instead of moving to what to what they perceived as the same conditions of living further removed from the center of the city. Whereas their schemes were successful in delaying of the demolition of numerous buildings, the interference did not last longer. At present, the area whereby the famous Cabrini-Green stood at one time has been changed an d what is currently there is a mixed-income neighborhood, which is only a few minutes away from one of the most developed or affluent areas of Chicago known as the Gold Coast (Brian & Beauty 20). Majority of the former residents have ultimately been replaced. In total, they consist of about twenty thousand apartments, nearly half of the funded housing units that are under the management of Chicago Housing Authority. The drab flats are heavily concentrated in the deteriorated areas just beyond the flourishing central business district, and confront several commuters that are Loop-bound everyday. Their broken elevators, garbage, crime, stairwells that are urine-stained and crime just show the several years of desertion and neglect, and deride the dreams that established them. As initially considered by the reformers, we find that public housing program was supposed to be a place whereby the people of low-income category lived until they were in a position of affording something better . The idea was establishment of decent and integrated homes; but instead, Chicago’s public housing is characterized by communal despair, poor conditions of living, poverty, segregation and criminal acts (Brian & Beauty 24). This is much common in the projects of high-rises. They were at one time conceived as ideal for the housing of

Theory and Philosophy of Nurse Practitioner Term Paper

Theory and Philosophy of Nurse Practitioner - Term Paper Example The various theories of nursing contribute to better clinical practice and enhance the experiences of nurse practitioners in providing optimal care to the patients and contribute to the nursing profession (Alligood, 2014). Medicine and effective healthcare is a science as well as an art that applies scientifically proven theories into practice with state of the art personal skills and exemplary behavioral traits. It is a science because nursing education empowers individuals with specialized knowledge and expertise for optimal healthcare outcome of patients. It exploits scientific knowledge to alleviate pain and promote patients’ welfare. At the same time, it is an art as personal skills, attitude and empathy of nurses become critical ingredients that help build constructive relationships with patients and promote trust that lead to improved patients’ outcome. They facilitate integration of a holistic approach by promoting physical, mental and social well-being of the patients and ethically delivered care to medically sick people. Thus, making special efforts to understand people and incorporating values in their interaction, nurses develop the art of interacting with patients, carer and other stakeholders. The two most important theories of nursing that I like to apply within clinical environment are: theory of value based practice; and evidence based practice. The theory of values based practice becomes hugely pertinent in the current environment of rapid globalization when the changing dynamics of society necessitate better understanding of cross-cultural values and ethically delivered care. Globalization has ushered in pluralistic society where people comprise of different race, color, culture and nationality. Cultural competencies of nurses considerably facilitate them to build relationship with patients which expedite

Here, Kitty, Kitty, Kitty, Kitty,Kitty Essay Example | Topics and Well Written Essays - 250 words

Here, Kitty, Kitty, Kitty, Kitty,Kitty - Essay Example er in just a few years â€Å"Dolly was euthanized because she was suffering from a number of health conditions† ( Wilmut Et al,Cloning Handbook, Roslin Institute). But, researchers lost no hope and successfully cloned a number of other animals including mice, rabbits, guinea pigs, pigs, dogs, horses etc. Questions have been raised about the ethical issue of cloning humans and it was totally banned. Biomedical scientists argue that cloning â€Å"helps to understand molecular mechanisms and can be used for therapeutic purposes† ( I .Wilmut; Cloning for Medicine, 2007). Wildlife biologists and geneticists are already trying to clone cheetah which is on the verge of extinction. They say that cloning will help in conservation issues. Government of in most countries have pointed out that cloning destroys the very identity of a person while researchers say that cloning is a boon. Nicky was the first cat to be cloned from a dead cat for its grieving owner but when it comes to c loning a dead child ethical issues are raised and thus cloning remains a debatable

Importing Cars from Overseas to Australia Essay

Importing Cars from Overseas to Australia - Essay Example It is located in Sydney and their most recent consignment is stipulated to come from US. The origin of these cars would be from Baltimore, USA and they would be transported to Australia. Other information: The consignment that needs to be taken care of is worth 50 cars and comes from a ware-house in Balti-more to Sydney in Peter Warren Automotive’s ware-house. The cars are Chevrolet Conair 1996 and weigh 4000 pounds each. LOGISTICS Solution: There are two viable methods which could be considered: Air Freight or Sea Freight We will offer insight into each of this method, what are the advantages and dies-advantages and then opt for the best method. Air Freight: Shipments to different parts of the world are not a huge ordeal today. Technology and globalization has made things a lot easier today. This was a feat which was unimaginable a few years ago. Air-freight shipping makes it easier to send merchandise between continents. It also makes it cheaper which otherwise would have be en a very expensive affair. Air freight makes distribution of product to any remote location in the world easier and possible. There are various other advantages those air-freight offers with it. If we opt for this method, it would mean that the lead-time would be shorter compared to the lead time offered by ship freights. This form of shipping is a guaranteed safe transport and arrival at the destination. Quiet unlike truck freight, there is no trouble finding the local airport and the route. Another very important and valuable service that comes with air freight would be the tracking facility. The cargo can be tracked at any point in time. On the whole air freight shipping is a very lucrative method of transport. It has its own advantages and disadvantages. However, still air shipping is the very feasible because of the low costs and shorter lead times. Things generally don’t go wrong with air-freight shopping. However, where our consignment is concerned, shipping 50 cars t hrough air space can turn out to be a huge ordeal and neither will the air space are able to accommodate so many cars at a go. Another option that can be considered is Sea Freight. OPTIMAL TRANSPORT MODE: Sea Freight Shipping Why Shipping? - Advantages and Disadvantages Since this is a huge consignment and needs to be dealt very carefully. The most obvious option to be considered for getting the cars to Sydney would be through Shipping. The cars would land at Sydney’s Port Kamala and from there would be taken to Peter Warren Automotives ware-houses and show rooms. The advantages of using sea transport are a plenty. Firstly ship transport gives logistics solution providers the liberty to conduct the transport in containers of different sizes. Secondly, this is the most ideal way of shipping for bulky goods like car that have longer lead times. Where the disadvantages are concerned, this mode of transport is slightly more costly. During the freight movement journey it would be difficult to keep track of the exact location of the goods in transit. Ship transport Options available: There are three different options that can be considered for shipping the cars over-seas from Baltic-more to Australia. They are as following: 1. Through RORO – Roll on and Roll Off 2. Cube Container shipping 3. Exclusive container. 1. RORO – Roll on and Roll off In RORO, there are decks of huge open hulled vessels. On

Volunteering Essay Example | Topics and Well Written Essays - 4000 words

Volunteering - Essay Example Voluntarism is characterized by 3 core principles: that is unpaid; benefit to others; and volunteer’s own free will. It is worth noting that volunteering is regarded a diverse concept due to its participants, activities and outcomes. In this regard, the concept of volunteering should not just be limited to formal contexts, such as volunteering in an organization, but rather should put into consideration more informal activities and one off-acts (Rochester et al., 2010, p.17). The concept of volunteering is based on the concepts of; work, philanthropy, leisure, participation, activism, care and learning (Rochester, 2006, p.11). Voluntarism is used by interns to add value and strengthen their skills for the challenges in their fields of study (Perlin, 2012, p.119, Oldman et al., 2003, p.25). According to NCVO (National Centre for Volunteering, 1998, p15) voluntarism must be a two-way relationship with no unpaid internship in charities. A role should always either be a paid one or a proper volunteer role as pointed out by the NCVO.

Tyco international Essay Example | Topics and Well Written Essays - 1000 words

Tyco international - Essay Example government. After its incorporation, the firm involved itself with high-tech science materials and conversion of energy products for use in the commercial sector. Over time, Tyco International was involved with various corporate strategies such as mergers and acquisition to become a leading manufacturer of industrial products. Corporate Level Strategies According to Porter (2008), corporate strategy includes all strategies that an organization employs as it diversifies. The strategy involves the combination of enterprises that a firm should compete in integration and modes through which to subsidiaries are coordinated. The four common corporate strategies applied by many firms including Tyco International include the portfolio strategy, restructuring, skills transfer and activity sharing (Tyco, 2011). The portfolio strategy as applied in the context of Tyco international is the ability of the firm to choose the best strategy exploits the strengths of the organization with the ability to exploit existing opportunities. The aim is to maximize shareholder returns. The analysis of the existing business portfolio and making decisions on suitability of the firm in receiving any further investment is a major step that should be accompanied strategy evaluation. In order to achieve the intended strategy, various methods are used, two of which is the BCG matrix and the General electric/shell strategy. Through the application of these strategies, Tyco International has been able to diversify over time (Tyco, 2011). Tyco International was established as an experimental laboratory/organization conducting experiments for the government. However, over time, the firm was able to experience both internal and external growth with diversity in its operations in different fields with the latest being a split. Internal growth was experienced through increased revenue that was used to pursue external growth through mergers and acquisitions. For instance, mergers began as early as 19 66 when the firm acquired Industrionics Control Inc. the 1970s saw the firm acquire Simplex and Grinnell. The firm continued its external expansion and ended acquiring more firms in the course of its growth (Porter, 2008). However, the firm realized it potential growth prospects and exploited the corporate strategy of split in 2006 where it was split into three independent companies that were Covidien Ltd, Tyco Electronics Ltd and Tyco International Ltd. Before splitting, Tyco International utilized the BCG strategy that could be used to establish the product portfolios of the firm as explained in the next section. While diversifying in international markets, Tyco International utilized strategies such as the export strategy, franchising and joint ventures and licensing among others. BCG Matrix as Applied to Tyco International The BCG matrix categorizes products of an organization based on the market share and the market growth rate. Based on these two axes, four quadrants are drawn representing stars, cash cows, dogs and cats. The matrix postulates that Stars represent products of the firm that depict high growth rates in the market such as healthcare products and services of Tyco International. Electronic products that have a large market share although they perform moderately in the market while question marks and dogs represent products of low market share operating in high growth markets and

Obamas Plan to Achieving Peace and Prosperity Essay Example for Free

Obamas Plan to Achieving Peace and Prosperity Essay In Cairo, Egypt, President Barrack Obama conducted a speech, addressing the problems that both Americans and the Muslims are facing. During his speech, Obama mentions the current issues that the whole world is facing as well as the solutions to these problems. Such solutions, according to Obama, can only be implemented by working together. Islamic Stereotypes President Obama mentions two stereotypes of the world against the Islamic civilization that are rooted in a history of hatred, division, and terrorism: (1) They are inevitably hostile to both the world and the human rights it upholds, and (2) their civilization is crude. These stereotypes are false since only Islamic extremists possess such hostility towards the world, and the Islamic civilizations progress and its contributions have been quite evident throughout history — their role in the European Renaissance and enlightenment, for instance, was invaluable. Islam is a Part of America Islamic culture has been evident within Americas borders, wherein Muslim communities enjoy the freedom to practice their religion while relishing the lifestyle brought about by American culture, which provides opportunities for people who seek a better life. Migration brought their culture into the country, and this cannot be denied because the constitution, which America upholds, protects their freedom to practice their cultural beliefs within the country. Through their citizenship and their involvement within American society, the United States integrated them as a part of America. Being Shaped by Different Cultures Throughout history, various cultures have influenced each other. For example. it has been mentioned in the speech as well as in history books that the Renaissance was brought to life by the Muslim culture when traders traveled across continents through trade routes. Thus, being influenced by other cultures is inevitable. It is primarily rooted from the need for different peoples to understand each other, and in the process, they prosper and achieve progress. There is a shared interest that drives peoples into adopting the best aspects of other cultures in order to promote a better future for everyone. Issues that Need to be Addressed In his speech, Obama enumerates certain issues that needs to be resolved in order to promote peace and prosperity. He adds that it should be an imperative for people from all cultures to work as a unified entity in order to solve the following issues: Violent extremism in all of its forms; Situation between Israelis, Palestinians, and the Arab world; Shared interest in the rights and responsibilities of nations on nuclear weapons; Democracy; Religious freedom; Womens rights; and Economic development and opportunity. By working together in solving these issues, he believes that the world would become better than what it is today. Obama also believes that it is a necessity to address these issues for the sake of future generations — for our children. Reference Obamas Middle East Speech: VIDEO, Full Text. (2009, June 4).

The aim of this investigation Essay Example for Free

The aim of this investigation Essay I am given an investigation which I have to plan myself; it is about an unknown organic compound that is either an alcohol, aldehyde, ketone, carboxylic acid, ester or phenol. I have to suggest a series of simple chemical tests, which could be done in test tubes, to distinguish the functional group of this organic compound. I am going to be observing any change of colour, formation of precipitate or the evolution of gas when adding certain chemicals to this compound. The aim of this investigation is to find the functional group by carrying out simple chemical tests and, later, identify the organic compound by using the spectra. Chemicals and Apparatus   10   test tubes   measuring cylinder (5 cm3)   pipette Bunsen burner   Splint   Gas syringe   Unknown organic compound   Bradys reagent   Bromine water Sodium metal Tollens reagent   Calcium Carbonate   Limewater Safety Plan Read the method carefully and understand it before attempting on carrying out any experiment. Have some knowledge of the chemicals to be used to minimise hazards in the procedure. Wear gloves, goggles and a lab coat at all times during the experiment to prevent accidents to one and to fellow pupils. Method Test 1. A Set up the apparatus carefully.   Measure 3 cm3 of the unknown compound into a small measuring cylinder.   Pour this into a test tube.   Add 3-6 drops of Bradys reagent (a solution of 2, 4-dinitrophenylhydrazine in dilute acid) to the test tube.   If yellow/ orange crystals start to appear, then the test has shown a positive result and..   The unknown is proved to be either an aldehyde or a ketone. Move on to Test 1. B   If no reaction happened, then the test has shown a negative result. So skip to Test 2. A. Test 1. B. To distinguish the carbonyl compound, measure 3 cm3 of the carbonyl compound in a measuring cylinder.   Pour this into a new test tube   Add 3-6 drops of Tollens reagent (a solution of silver nitrate in aqueous ammonia) to the test tube.   If a silver mirror forms around the inside of the test tube, the compound is proved to be an aldehyde. However if no reaction occurs, it is a ketone. Test 2. A   Measure 3 cm3 of the unknown into a measuring cylinder.   Pour this into new a test tube.   Throw a pinch of Sodium metal to the unknown. If gas is liberated, quickly light a splint and place it over the test tube. If you hear a popping sound, this confirms that the gas is in fact Hydrogen and the unknown compound is either a phenol, alcohol or a carboxylic acid. Move on to Test 2. B.   If no reaction occurs then the unknown is an ester which should also give a sweet smell. Test 2. B Measure 3 cm3 of the unknown into a measuring cylinder.   Pour this into new a test tube.   Add 6-10 drops of Bromine water to the test tube. * If Bromine is decolourised (from orange to clear) and a white precipitate forms then this confirms that the unknown is actually a phenol. If no precipitate forms then the unknown is either an alcohol or a carboxylic acid. So move on to Test 2. C. Test 2. C   Measure 3 cm3 of the unknown into a measuring cylinder. Pour this into new a test tube. Throw a pinch of Calcium Carbonate to the unknown   If a gas is liberated, shut the tube with a cork that has a hole in it and is connected to a tube and a gas syringe.   The gas should collect in the gas syringe. When gas stops evolving, bubble the gas into 5 cm3 of limewater.   If the limewater goes milky in colour, this proves that the gas is Carbon Dioxide and that the unknown is a carboxylic acid. If no reaction occurs, then the unknown is confirmed to be an alcohol. Fair test Doing a fair test is completely essential for achieving accurate and reliable results which would take a large part in the conclusion at the end, and also for avoiding errors and anomalous results. I will make sure that this happens by many ways, by choosing: 1. Relevant and accurate equipment with very small percentage errors. 2. Washing and drying up the equipment thoroughly after each experiment ensuring that they are contamination-free. 3. Taking measurements carefully as specified by the method. 4. keeping a straight line of sight when reading measurements of solution in the measuring cylinder 5. Always read the bottom of the meniscus of any solution when taking measurements. Bibliography For this investigation, I mainly used the yahoo search engine from the internet as my primary source of information e. g. Bradys reagent; with addition to a variety of books, where I looked up various reactions of compounds. The rest of this investigation is done using my knowledge and understanding of this subject.

Incineration Or Recycling Of Waste In Stockholm Environmental Sciences Essay

Incineration Or Recycling Of Waste In Stockholm Environmental Sciences Essay The amount of waste has increased every year in line with economic growth in the society and so progressively becoming a bigger concern. The issue of increasing waste in the society needs to be considered carefully and strategies for building sustainable solutions must be incorporated into the daily agenda for companies as well as for households. Decisions regarding large investments in our society, like different ways of handling waste, are complex and require a systematic approach supported with appropriate decision methods and models. The overall aim for this study is to investigate how incineration and recycling in Stockholm municipality is organized and also to evaluate both the costs and the benefits using CBA model. Which method is the best when both considering financial and environmental aspects? The results from the Cost Benefit Analysis shows clearly that incineration has a large advantage relative recycling in matter of financial benefits. This benefit comes mainly from the fact that it is possible in Sweden and at the Hà ¶gdalenverken to produce district heating and electricity from the incineration of MSW. This energy recovery is not just good from an environmental point of view but also from a financial. Another important result is that the flue gas treatment in Sweden and Hà ¶gdalenverken is very effective due to use of modern technologies. The cleaning process with use of filters, scrubbers and catalysts are very effective and has a large impact on the emissions released to the environment. When analyzing the full picture with incineration compared to recycling it is clear that in Stockholm is the benefits larger for incineration as a large scale profitable treatment method for the municipal solid waste (MSW). Introduction In the early 1800s the main occupation in Sweden was agriculture and the most important processes linked to farming was sowing, harvesting and managing animals. During this period it was quite clear for the farmers what the input and output of their processes were and it was probably not that hard to control these processes and the local environmental impact. The main issue was the weather and the main resource was manpower. The dawn of industrial technology brought the industrial revolution. It became clear that new companies and households were not only impacting the local environment but also much larger areas via waterways and air streams. The amount of waste has, in general, increased every year in line with economic growth and so progressively becoming a bigger issue for our society. The issue of increasing waste in the society needs to be considered carefully and strategies for building sustainable solutions must be incorporated into the daily agenda for companies as well as f or households. Decisions regarding large investments in our society, like different ways of handling waste, are complex and require a systematic approach supported with appropriate decision methods and models. Aims and Objectives The overall aim for this study is to investigate how incineration and recycling in Stockholm municipality is organized and also to evaluate both the costs and the benefits using CBA model. Which method is the best when both considering financial and environmental aspects? To be able to fulfill the overall aim a number of objectives has been established; Describe the concept of Ecological Economics and its context. Describe and explain how Cost Benefit Analysis can be used to evaluate waste handling. Describe what kind of waste that is incinerated and recycled in Stockholm municipality. Describe and analyze how incineration of waste is managed in Stockholm municipality. Describe and analyze how recycling of waste is managed in Stockholm municipality. Calculate and evaluate costs and benefits for both waste incineration and recycling. System Boundary One geographical boundary is that this study will take place in Stockholm municipality but when suitable information is missing in Stockholm there is a need to broaden this boundary. It is also stated that there is two options of waste handling that will be studied in this report, incineration and recycling. Still these methods need to be put into its context. Methodology The information used in this report comes mainly from course literature used in the course Ecological Economics (MJ2694) at KTH. Other sources of information are internet and databases with articles for the specific research area. Theoretical Framework This chapter will introduce the research area as well as build the basis for good understanding of how waste management is handled in Stockholm municipality. This study is focused on using Cost Benefit Analysis as method for analyzing the two options incineration and recycling. Ecological Economics Perspective Ecological Economics (EE) was founded at the end of 1980s and this field is often categorized in multi-discipline or trans-discipline research depending on the views of different scholars (Constanza, Daly and Bartholomew, 1991; Daly, 2004). This section will briefly address the concept and the terms of EE that will be used in this study. Due to the multi-disciplinary nature of EE, it seems important to define the basic idea of Ecological Economics before addressing the waste management methods from an ecological economics perspective. The basic idea of Ecological Economics In a broader sense this field of study investigates the relationship between ecosystems and economic systems (Constanza, Daly and Bartholomew, 1991). However, as Bergh (2001) discusses in relation with the core of EE, the combination of the two different fields of study was enabled based on the view that the economy is a subsystem of a larger local and global ecosystem, and this relationship provides the reason to set limits to the physical growth of the economy. At this point it is differed from mainstream economy which has the focus on market mechanism without consideration of actual human and ecosystem behavior. Ecological Economics responds to failure of mainstream economics to build a bridge between the gap of natural science and economics (Gowdy, 2000). Economic scientist aspires to find simple and general laws that cover all possible economic situations. The focus on markets in economy, with ignorance of the constraints imposed by environment and the human behavior, has conclu ded in a variety of environmental degradation (Gowdy, 2000). An important distinction of sustainability in EE is concerned with the differences between development and growth. Development refers to an increase in the quality of output without an increase in mass and energy usage, whereas growth refers to quantitative increase in economic output (Gowdy, 2000). Development with an increase of quality of output also considers equal allocating resources significant and efficiency of distributing resources (Daly and Farley, 2004). Cost Benefit Analysis One of the methods used for decision-making is Cost Benefit Analysis (CBA) and with this method it is possible to evaluate the expected costs of an investment against the expected benefits to determine the most profitable alternative. In terms of goal setting or making a decision, CBA is a support for the decision makers. It is a rather simple method that is widely used for many years. (Entrepreneur, 2010) To illustrate how simple the CBA could be is to put a piece of paper where a line divides it into two parts. In the left side costs are stated and in the right side the potential benefits are described. Both the costs and benefits should be stated to reach a specific goal. After writing the different costs and benefits they need to be added up to be able to compare the both sides and to see which the largest part is. As this is a very simple method for decision-making it could be used for a first screening the situation but probably a more sophisticated method will be needed for deeper analysis. (Entrepreneur, 2010) One example when a CBA is used could be when a Sales Director of a company needs to take a decision if the company should invest in a new efficient contract and sales processing computer based system. At present time has the sales department just a few computers and this kind of investment would require quite much employee training. There is a risk that there will be a decrease in sales during the implementation period of this new computer based system. The total costs are estimated to about $55,800 (computers, installation and training). The potential benefits are linked to the estimated increase in sales capacity and better customer service performance which is approximately $90,000 annually. With this costs and benefit figures is it possible to calculate the profit of the investment as well as the return of investment of about eight months. (Entrepreneur, 2010) Incineration in Stockholm Municipality There are many ways of taking care of waste and incineration if one of the most important treatment methods. According to the waste hierarchy is incineration in the middle of the waste hierarchy. The order is from the top of the waste hierarchy; waste reduction/prevention, re-use, recycling composting, incineration and landfill (Williams, 2005). In Stockholm is incineration is one of the main ways of waste treatment. For Stockholm is Hà ¶gdalenverket the main facility for incineration of waste. At this plant is heat and electricity produced from mainly combustion of municipal solid waste (MSW) as well as industrial waste. This facility consists of six different burners to produce the heat and electricity. One important change in the district heating net of Stockholm was made in 2008 when the southern and central district heating net was merged into one net. Hà ¶gdalenverket is the major producing unit of district heating in Stockholm. In Hà ¶gdalenverket is the different shares of waste; MSW from Stockholm 235,432 ton, MSW from surrounding municipalities 158,001 ton and industrial waste 90,917 ton. The part of the MSW that comes from Stockholm is 235,432/484,450 = 0.49, that is 49% of the total treated waste in Hà ¶gdalenverket. There are also needed different fuels to be able to run the plant, for example burning oils a nd bio oils (Fortum, 2010). In Table 9 in Appendix B, it is obvious that waste from food is totally dominating the MSW with about 38.9% of the total amount. The second biggest part is board and corrugated cardboard with 9.3% and the third biggest is newspapers with 7.2%. These three parts makes about 55% of the total MSW in Stockholm and needs to be treated accordingly. The figures shown in Table 9 come from an analysis called plockanalys (eng. pick analysis). This means that MSW in Stockholm has been analyzed by looking into garbage bags from citizens in the municipality. A typical modern waste incinerator plant is divided into five different process steps according to Williams (2005). The first step is the waste delivery and the final district heating or electricity generation. The steps are described below also see Figure 1 for an illustration: I) Waste delivery, bunker and feeding system this stage comprises the arrival of waste to the incineration plant, its storage in the bunker for further utilization and the continuous feeding to the furnace. II) Furnace it is here where the incineration of the waste occurs. It can be divided in three phases; drying and devolatilisation, combustion of volatiles and soot and combustion of the solid carbonaceous residues. III) Heat recovery due to the high temperature of the flue gases, around 750 1000  °C, it is necessary to cool down the gases before passing through the cleaning system. During this process, by the utilization of a boiler, the heat of the flue gases is transferred to water therefore producing steam. IV) Emissions control this stage comprises all the measures and techniques utilized to treat the flue gases in order to comply with the European Commission Waste Incineration Directive (2000), which regulates all the emissions resultant from incineration plants. V) Energy recovery via district heating or electricity generation through the utilization of turbines or heat exchangers it is possible to use the steam produced in the heat recovery phase to generate electricity or district heating. Figure 1 Typical layout of a MSW incineration plant (EC, 2006) Recycling in Stockholm Municipality Waste recycling can be considered as a favored way for material and energy recovery. Reasonable sorting system is the most kernel part in material recycling. The main aims of waste recycling is to separately store recyclable material for reuse and ensure that waste which can be processed for recovery of material and energy. It is also to separately store hazardous material for disposal in landfills or through appropriate processing and also to minimize the waste and ensure reduction in landfill space for final disposal. (Barker and Zabinsky, 2010) The general idea of waste recycling in western countries, is based on first household sorting and recycling and secondly process in recycling center. Household Sorting and Recycling The idea of household recycling adopts the method of waste sorting in households. There are different kinds of waste that is recycled for example packaging, food, paper, metal and glass waste. These are collected via waste bins located at households, business facilities, at hotel and other public areas. The collected waste will be transported for recycling or for downgraded recovery. The household waste sorting starts normally in the kitchen where food waste and other mixed waste are sorted into their own separate waste collection bins. The waste contains recyclable materials such as glass, metal and paper that are sorted in their separate bins. The waste also contains hazardous material which can be dangerous or harmful to human health or the surrounding environment and should not be mixed with other waste. The hazardous waste must be kept separately and taken to specific recycle stations. In 1994 was the legislation passed, that requiring households to sort waste into separate streams to facilitate collection under the EPR legislation. Since the Swedish system relied on bring systems it is not really compulsory. Sorting waste by the households is regulated but not enforced. In almost all municipalities in Sweden, there are different kinds of waste bins used to collect different kinds of household waste separately. The method of classifying different household waste follow these different groups; paper board, plastic, glass, metals, food and other (e.g. batteries, lamps). For the different kind of waste mentioned, there are the corresponding bins to collect them. (Paxà ©us, 1999) Swedish cleaning company jointly is formed by non-governmental organizations. Companies in some cities in Sweden provides each household with free garbage bags which is used to keep waste paper, scrap metal, waste glass bottle and waste fiber separately. The special truck always collects recyclable periodically, while the other garbage collection once a week. In addition, in apartments, hotels and other public residential area also has the special collection devices used to keep various types of waste for recycling. (Green Alliance, 2009) The reusable bottles in Sweden, such as plastic bottles and metal cans, could be collected at supermarkets which have self-service recycle machines. People can get money back once by applying the used bottles into the self-service machine which is designed as a deposit refund system. About 9,000 tons of recycled in Sweden for cans and about 2 million tons of glass bottles are collected every year. 75 million tons of paper are recovered per year of which 240,000 tons is collected from households. (Docstoc, 2009) Process in Recycling Center Recycling Centers manage the collected waste from all scattered areas. The recycling begins with material collection and separation, followed by sorting at a Materials Recovery Facility (MRF), which is also known as recycling centers and after that further reprocessing or reuse. The recycling center can be defined as a demarcated system where people bring and sort their large-sized, hazardous and electrical waste. This is including refrigerators, furniture, electronics, garden waste, solvents and paints. The waste is sorted and placed in large containers, cages and boxes. However, kitchen waste is not accepted at these recycling centers. (Krook and Eklund, 2010) In contrast to waste separation in source site, waste materials and recyclables sorted in recycling centre can be thought of solution at the end of the waste stream. A typical materials recovery centre comprises of several buildings including receiving and processing waste from the producers or storing a short period inventory of conditioned waste as a warehouse. All the buildings are necessarily equipped with appropriate facilities for treating and conditioning the waste. The standardization of the recycling centre strictly follows reference design certified by relevant agencies in order to achieve cost effective performance. Figure 2 below shows the recycling centre which can handle with a mixture of containers composed of crystal or colored glass, ferrous metals, aluminum tins and paper cartons. The procedure is similar to un-segregated MSW recycling facility. Pre-segregation occurs before waste is transmitted to the facility which indicates a higher recovery rate involved (Williams, 2005). Figure 2. Materials Recycling Facility. (Warmer Bulletin 59, 1998. Reproduced by permission of R.C. Strange) Materials recycling facilities handles the segregated material streams with a range from 3 to 8 waste components, of particular materials which may be separated or mixed. By doing in this way, it will lower the contamination degree while increase the recycling rates. The separation processes are generally classified into mechanical and manual separated operations. Many types of materials like corrugated cardboard which is already through the pre-segregating procedure will be delivered into the baler directly at the initial input stage. The stages of separation include trommel screening, magnetic separation, and manual sorting. Although mechanical separation processes are in wider applications, yet manual sorting procedure is still considered as a favored way to detach different waste especially like colored glasses or plastics. (Williams, 2005) Results In this section will the result from data and literature research be presented. To be able to illustrate the result in an easy and logical way, will first the cost and benefits for incineration be shown and after that the cost and benefits for recycling in Stockholm. The final result from the full cost benefit calculation will be illustrated in a table. Costs for Incineration in Stockholm Municipality The costs for incineration are assumed to be the costs for collection and transport of the household waste and the full cost for the incineration plant. Costs for Collection and Transportation About 35 employees are working in the waste management office in Stockholm municipality. Total population in Stockholm for 2009 is 829,417 according to the annual report of Stockholm municipality (Stockholms Stad, 2010). Weighed household waste at Hà ¶gdalenverken is 130 kr * 829,417 = 107,824,210 kr per year. The cost for collection, transport and removal of household waste is about 520 kr per person and year in Stockholm municipality according to annual report. Total costs for collection, transport and removal of household waste is equal to 520 kr * 829,417 = 431,296,840 kr/year Costs for Incineration Plant Hà ¶gdalenverket has an annual capacity of treating about 700,000 ton waste and the share of MSW from Stockholm Municipality is 235,432 ton per year. In the study made by the Swedish Environmental Research Institute (IVL, 1999) is the total cost for an incineration plant about 400 kr per ton. This information is to be found in table A6 in the IVL report from 1999. Cost Assumptions for Incineration Plants (IVL, 1999): Investment, Capacity0.68 * 145,000 Depreciation time = 20 years Power (MW), Capacity * 0.38 * 10-3 Employees, 10+(14.3*Power+200)0.5 Maintenance and operational costs, 2.5% of the investment Chemicals and lime, 20 kr/ton waste Capacity = plant capacity (ton/year) Interest rate = 5% With a total amount of waste that is 235,432 ton/year and a cost of about 400 kr/ton waste treated will the total cost per year be 400 kr/ton * 235,432 ton/year = 94,172,800 kr/year. The total cost for incineration according to the above calculations is a combination of costs for collection and transportation as well as costs for the incineration plant. Probably is it also some minor cost for handling the residues from the incineration but this cost was not possible to find. Total cost for incineration is 431,296,840 kr/year + 94,172,800 kr/year = 525,469,640 kr/year. Benefits for Incineration in Stockholm Municipality In Stockholm are approximately 130,000 households using the district heating from Hà ¶gdalenverken and this district heating is generated from incineration of MSW (Fortum, 2009). The annual cost for every household is estimated to be about 18,960 kr/year. This is based on an annual energy usage of 21,000 kWh (Fortum, 2010a). The total cost for households (equals to benefits from district heating) will be 130,000 * 18,960 kr/year = 2,464,800,000 kr/year and this is the major part of the benefits from incineration. The other part is the electricity produced. According to Fortum homepage (Fortum, 2010) is the power output from the plant 71 MW. There are two steam turbines with a power output of 27 MW and 44MW which gives a total of 71 MW. The calculation to convert it into kW is 71 MW * 1000 = 71,000 kW. The calculation of the produced electricity per year for Hà ¶gdalenverken is 71,000 kW * 24 hours/days * 365 days/year = 621,960,000 kWh/year. The assumed price for electricity is collected at Fortum homepage (Fortum, 2010b) and the page Historiska elpriser. To calculate the total income from electricity we have used the average monthly electricity price from January 2009 to December 2009 and this is 44.815 à ¶re/kWh = 0.44815 kr/kWh. This average price is then multiplied with the total electricity produced for 2009 which gives 621,960,000 kWh/year * 0.44815 kr/kWh = 278,731,374 kr/year. The benefits from incineration is a combination of district heating and electricity produced in Hà ¶gdalenverket. Still is the part of waste coming from Stockholm municipality about 49% of the total production in Hà ¶gdalenverket which gives; 0.49 * (2,464,800,000 kr/year + 278,731,374 kr/year) = 1,344,330,373 kr/year. Costs for Recycling in Stockholm Municipality The part of material recycling which includes packaging, electronic waste, as well as bulky waste collected as metal fraction in municipal recycling centers in Sweden was 1,586,600 ton for 2009, 169.9 kg per person and corresponds to 35.4 % of all treated household waste. Therefore the total amount of recycling in Stockholm is 169.9 kg/person * 829,417 persons = 140,918 ton/year. This was calculated based on population size, see Table 1below. Table 1 The Amount of Recycling per Year in Stockholm (Avfall Sverige, 2010) Sweden Stockholm Material recycling 1,586,600 ton 140,918 ton Material recycling per person 169.9 kg Population 9,354,462 829,417 The cost for waste management is in average 690 kr/person per year. It is possible to assume that the cost for recycling is 244 kr/person per year based on the charge of recycling 35.4% of total waste. The cost of recycling is 244 kr/person * 829,417 = 202,377,748 kr/year, see Table 2. Table 2 The Cost of Recycling per Year in Stockholm (Avfall Sverige, 2010) 1 person/year Per year Cost for waste management 690 kr Cost for recycling 244 kr 202,377,748 kr Rate of recycling of total waste 35.4% Benefits for Recycling in Stockholm Municipality The vast majority of recycling materials in Stockholm is generally categorized into 5 groups; plastic, metal, paper, e-waste and glass. In the Swedish Waste Management report for 2010 (Avfall Sverige, 2010) is the explicit recycling data display as a Table 3 below. Table 3. Recycling Material Detail in Sweden 2009 (Avfall Sverige, 2010) Waste Type [ton] [kg/person] Recovery degree [%] Parliament recycling target [%] Newspaper Paper Package 899,000 96.4 85 70 Office Paper 118,000 12.6 72 Plastic 44,430 4.8 27 70 Glass 177,300 19.0 90 70 Metal Metal Package 203.320 21.8 72 70 E-waste 143.850 15.4 According to municipal demographic statistic in 2009, the municipality of Stockholm holds a population of 829,417. Therefore, the waste statistic in Stockholm is as demonstrated in Table 4. One example of calculation is for Newspaper Paper Package where the kg/person is 96.4 and this times 829,417 equals 79,955,799 kg for a year. Table 4. Recycling Material Amount in Municipality of Stockholm 2009 Waste Type Waste Amount [kg] Waste Amount [ton] Newspaper Paper Package 79,955,799 79,956 Office Paper 10,450,654 10,451 Plastic 22,394,259 22,394 Glass 74,647,530 74,648 Metal Metal Package 18,081,291 18,081 E-waste 12,773,022 12,773 On basis of reports regarding cost benefit of waste recycling as well as statistics and some assumptions, economical market value for these recycling materials are calculated, see Table 5. Table 5 Value of Recovered Materials Waste Type $ per ton Newspaper Paper Pack 90  [1]   Office Paper 2571 Plastic 6501 Glass 751 Metal Metal Package 1,200  [2]   E-waste 1,890  [3]   The calculation of total benefits is a combination of waste amount value from Table 4 and $ per ton value from Table 5. This gives 79,956*90 + 10,451*257 + 22,394*650 + 74,648*75 + 18,081*1,200 + 12,773*1,890 = 7,196,040 + 2,685,907 + 14,566,100 + 5,598,600 + 21,697,200 + 24,140,970 = 75,884,817 USD. The average USD rate vs. SEK is 7.63  [4]  for 2009 and this gives a total benefits for recycling of 75,884,817 USD * 7.63 = 579,001,154 kr/year. Cost Benefit Analysis of Incineration vs. Recycling The total cost and benefits from calculations in the results chapter is illustrated in Table 6 below. It is clear that the financial profit from incineration is best compared to recycling in Stockholm municipality. The table also shows that the driver behind this result is the benefits generated by district heating from incineration. One important point to mention is that the total amount of waste for incineration is 235,432 ton/year and for recycling 140,918 ton/year. Table 6 Calculation of Cost and Benefits for Incineration and Recycling [kr/year] Incineration Recycling Benefits 1,344,330,373 579,001,154 Costs 525,469,640 202,377,748 Profit 818,860,733 [kr/year] 376,623,406 [kr/year] Extended Cost Benefit Analysis Environmental Impact from Incineration In spite of being an attractive technological option for waste management, incineration of MSW is the subject of debate around the world. Though incineration of MSW contribute to energy recovery through district heating and electricity, but in absence of efficient controls, pollutants may be discharged into air, land and water which may influence human health and environment. There are different ways of treating flue gases during the incineration process. Cyclones may be seen as an improved version of settling chamber. Their specific geometry increases particles speed as well as the probability they hit the cyclone walls. They can then fall down and being collected. Often used in parallel and it is then called multi-cyclones. Cyclones present several advantages as pre-treatment methods. Another alternative which can be combined with cyclone as pre-treatment is the use of electrostatic precipitator. These expensive pieces of equipment are able to handle high temperature and may be a good ally of cyclones because of their high cleaning efficiency including very small particles. The removal of gaseous compounds such as acidic gases or nitrites requires the use of additional reagent such as activated carbon or limestone. Their prominence is mainly due to their low investment cost and implementation flexibility. They can indeed deal with various flow character istics, including very wet and hot gases. Wet scrubbers are not without drawbacks (Persson, 2006). Environmental Impact from Recycling In general recycling is widely assumed to have a lower impact than producing new product from raw materials for all the waste items, see Table 7. Table 7. Impact of Recycling (Parliamentary Office of Science and Technology, 2005) Material % of Household Waste Energy Emissions Raw Material Saved per Ton Recycled Paper 18 28-70% 95% less (air pollutants) Glass 7 18% less 30% less 1.2 Plastic 7 up to 66% less - 1.8 Cans (Fe) 3 70% less 86% less 2.0 Can (Al) 3 95% less 95% less 4.0 Based on Rebel recycling program between 2003 and 2008, it is possible to calculate the following positive impact on the global environment from recycling in Stockholm, see Table 8. Table 8. Positive Impact of Recycling in Stockholm (University of Nevada, 2008) 1 ton 140,918 ton/year Tree Saved 17 forty foot Douglas fir trees 2,395,606 forty foot Douglas fir trees Water Saved 7,000 gallons of water 9,86426 gallons of water Air Pollution Prevented 60 pounds of air pollutants 8,455,08 pounds of air pollutants Landfil