Paraphrasing Assignment Example | Topics and Well Written Essays - 250 words - 2

Paraphrasing - Assignment Example (Audubon 1990, pg. 17) Research has shown that out of the one thousand lives lost as a result of bicycle accidents three quarters results from head injuries and half of these deaths affect school children. Another study also indicated the use of helmets reduces chances of head injury by approximately 85% through provision of a cushion to head as well as the absorption of shock (Unused life savers Consumer Report 1990, pg. 348). Matisse in the most excellent artist among the contemporary artists in making realistic scenarios to his viewers; an example of his work is the Casbah Gate which is mostly known to many of his fans as the Bab el Aassa. It exhibits a feeling of the breeze as essential to well-being and a smell of oranges as crucial to constant life. This piece of work is strategically located on a wall near the Sultan’s palace. The painting on the wall is made by rough pieces of ivory to form an aqua blue together with a rose that is surrounded by a gray outline to give the viewers a feeling of tangier afternoon as well as an artful occurrence of the bowaab which faces the entry of the Gate (Plagens1990, pg. 50) Despite the fact that Sear Towers is considered as the greatest achievement in the Skyscraping Engineering dimension, engineers as well as architects are still enthusiastic to develop the tallest buildings in the world. This has raised concerns on the maximum height in which buildings can be erected. A building twice as high as the Sear towers has been designed by the famous Structural Engineer William and has a dimension of half a mile in height. Research by Sobei depicts that the contemporary technology can capacitate the construction of a five hundred story tower (Bachman 1990, pg.

Reward System and Employees Performance Essay Example | Topics and Well Written Essays - 1750 words

Reward System and Employees Performance - Essay Example Reward System – A Motivational factor in Developing and Managing Employee’s Performance - A Case Study based on a UK Company The organization is a reputed UK group with a chain of supermarkets across the country and sells clothes, food and household products. Between 2004 and 2005, the company employed around 70,000 people with 65,000 for UK operations of which 78% are female and 13% are from ethnic minority groups (MarksandSpencer.com, 2006). Along with a commitment towards equality and diversity, the group is also committed towards providing the right levels of rewards and incentives to its employees. According to Marks and Spencer workplace facts as claimed by the company, pay and benefits to employees are an important part of human resource management as retailers compete to provide the best remuneration for the best people (MarksandSpencer.com, 2006). The company maintains that the rewards package given to its employees is flexible, competitive, focused on superior results and is aimed to support personal choices of personal lifestyles. The elements of the reward packages of the company include fixed and competitive pay rates, variable performance related pay and a wide range of other benefits. In this study we would prepare a detailed questionnaire to understand the impact of these benefits, payment and reward systems on employees and we would also determine whether these rewards actually help in improving motivation and how this would relate to improved company performance. Marks and Spencer has boasted of 73% employee retention over 2004-2005 and retention may be considered as an important indicator of employee satisfaction and motivation. (MarksandSpencer.com, 2006). Questionnaires would be distributed to employees of Marks and Spencer to determine whether rewards systems given to them have a positive impact on their motivation and performance levels. Aims of Research: The aim of the research is to determine the relationship between reward systems and benefits given to employees and levels of motivation that affect work performance and overall company performance. This study would determine whether increased rewards help in providing job satisfaction and whether reward systems also aid in staff retention and work performance. Research Objectives: The objectives of the research are given as follows: To determine whether rewards and benefits help in improving motivation in employees To determine the reasons for differences in employee retention within companies To determine the performance levels of employees with and without rewards To evaluate whether improved employee motivation and job satisfaction can also lead to improved company performance To evaluate whether rewards, incentives and benefits are effective tools in human resource management Background/Literature Review: Companies use different means of rewarding employees and Brody et al (2001) discuss merit pay plans used by companies to motivate and reward employees. The theory of motivation would highlight that rewards and reinforcement for individual accomplishments should produce positive results although there may also be negative outcomes (Brody et al, 2001). Brody et al suggest in their study that when individuals are involved in hiring and merit allocation for employees, their prior commitments have significant effects on rewards allocated to the employees. This shows that a manager's

Fighting Malnutrition Essay Example for Free

Fighting Malnutrition Essay Malnutrition has been a serious concern across the world which is caused due to lack of vital vitamins and minerals in the diet where in majority of the impoverished or poor people suffer from micronutrient deficiencies. Tackling malnutrition has indeed been a challenge for the government, donors, and the private sector to give their attention to the developmental effectiveness and providing value for money. Approx. 2 billion people across the globe suffer from anemia which caused due to iron deficiency and iodine deficiency which leads to mental retardation, results in being resistance to the disease, lowering the attention and concentration of children in class rooms, causes death of pregnant mothers, deaths due to diarrhea and million of people go blind each year. As this problem of malnutrition takes away almost 3% of the country’s GDP, companies need to be very much careful of this fact which in turn affects the consumption pattern of the consumers. Companies like Coca-Cola and PG have indeed put much efforts in making their food and beverages rich in vitamins and minerals but the issue in this regards is how firms target the market in terms of the availability of the product, its pricing strategies, the way of promoting and creating awareness among the masses and the convenience of the product. Thus instead of only focusing upon the Product mix, just like Coke and PG have dealt with the problem, the firms should target the other marketing mix elements as well to successfully market their goods. What additional efforts have been taken up by companies to solve this concern of malnutrition, How has the research and development team of the firms focused on their activities to overcome and fight the economic concern has been the questions in most of the organizations watch list. Problems / Issues: Coca-Cola introduced the product named Vitango, which was a powdered drink to be mixed with water and to be consumed as a beverage, the issue was that research did show that there was a huge improvements in certain places where it was introduced but in certain places due to the impurities in the water, it nullified the efforts of the powdered vitango. The firm encountered trouble because of lack of focus in the initial stages of the new product development which it at a later stage went about packaging a ready-to-drink formula for its consumers. PG also came out with their own production of Nutridelight which had an element of vitamin A, iron contents and Growth Plus was the main ingredient. But unfortunately it did not sell well in the market as the prices were non – competitive and it did not meet the present market – going rate of the product’s price. It later came with Nutristar which performed good in the market but it would target only the premium group customers as the product was available at only McDonald’s outlet, and in major instances it is the segment of the poor which actually require the product. Thus again PG had lack of focus in their strategic implementations. In both the cases mentioned above, the firms lacked focus of their marketing mix factors in terms of the product, price, place or promotional strategies. Analysis: Based on the research carried, both over nourished and under nourished leads to malnutrition and hence poverty and lack of food has been an issue under consideration in certain countries which has symptoms of anemia, diarrhea, disorientation, goiter, lack of coordination and loss of reflexes, scaling and cracking of lips and mouth are terrible consequences faced by the people. Companies need to provide fortified foods which have the opportunity of adding value and providing economies of scale by lowering upon the prices, developing quality products to enhance trade and competition and reaching out to newer customers that have not been targeted, there by combating the problem of malnutrition of a huge segment of those suffering. Thus malnutrition is a vicious cycle where in an under-nourished or over-nourished person suffers from various diseases and infections which in turn increases the requirement of energy into the body which needs to be fulfilled. If this demand s not fulfilled it results in malnutrition which further reduces and diminishes the immunity level of the children and elders as well making them more prone to such infections. Recommendations / Solutions to the Problem: To improve the nutritional levels of food, the prior concern should be to increase the income levels where by the quality and the quantitative food intake can be increased. Firms need to focus on consider the following aspects in the formulation of a strategic development in order to combat malnutrition and the poverty line. Companies need to focus upon: ?Creating awareness among the public on nutritional and health issues: This will help the local poor people to understand the value of health and the benefits of having balanced food habits. ?Increase the income levels there by improving the standard of living: If the purchasing power parity of consumers is increased, the consumption level will also increase leading to adoption of the best food eating methods. ?Improve the nutritional and the health status of the society at large, ?Focus on the rural marketing and distribution methods: rural marketing needs focus especially to instill the seriousness of the deaths and weaknesses which result through malnutrition. Making the product available to them at a reasonable price and at their convenient places will create positive sense of belongingness in the minds of the users. ?Organize and develop market surveys to study the general trend of the consumers: Study the market and understand the changing food habits there by promoting the strategies in the manner which clears the issues of resisting and fighting the problem of malnutrition. ?Train the volunteers and create awareness among the rural sectors, ?Setting up production and marketing units to cater to the goals and objectives set by companies there by improvising on the nutrition status of the target village or market taken into consideration. Conclusion: Fighting Malnutrition has been a concern and a serious issue for all the firms whose main objective has been to develop products which are higher in nutrient level with nutritional supplements. The prior focus should be on whether the food or the beverage should be used as a supplement or as a substitute which in turn will help in strategizing the business processes in a manner which suits the target markets requirements and needs. References: Capart. (2008). Promotion of community initiatives to combat malnutrition and provide income generation in the backward regions of India. Retrieved October 3, 2008, from Website: http://209. 85. 175. 104/search? q=cache:PWnXLkls_2sJ:capart. nic. in/scheme/projectm. pdf+marketing+:+malnutritionhl=enct=clnkcd=3gl=in Michael, J. (2007). Fighting Poverty with Markets, Marketing to the malnourished. Retrieved October 3, 2008, from Foreign Policy Website: http://blog. foreignpolicy. com/node/3712

Practical Completion and Defects Liability Period

Practical Completion and Defects Liability Period It would be inaccurate for a person, a reader to say they dont feel different inside when they touch a psychical book page in comparison to when they touch an e-reader screen. The feel of a book, its cover, its essence and the text somewhere on the first few pages that says First edition is enough to make any avid reader smile ear to ear. In 2060 though, one would be smart to do away with that smile if youre in public as it could be dangerous and matters do tend to escalate quickly. Salutaris is for those people the ones who love all things about reading physical books, but have to hide it from the rest of society for fear of being harassed physically or mentally. Its for the people who have to live a lie. Objectives of the Project Possible consequences of living a lie of this magnitude for an extended period of time include developing paranoia, thinking your secret may be found out at any time. This may hinder social development and a person may grow socially and emotionally inverted. In severe cases, this can escalate to much worse scenarios. Salutaris seeks to Give these people, the literary folk who have to hide their books and knowledge, a sense of belonging. Give them the freedom to indulge in the books around them without fear of being abused for it. Be a sanctuary. 1.3 Client The client for this project plays the role of the Interior Designer as well- Miss. Zuhdeeya Ghouse 1.4 Client objectives To bring together a group of readers in an unwelcoming future by uniting them using their common interest, in this case physical books, the feel of the pages, the essence of it and the experience. 1.5 Funding of the project Considering the project type, its funding will be in the form of a loan or grant from a financial institution. With the services provided by Salutaris daily, these costs will be paid off efficiently. 1.6 Appointment of designer and other consultants The clients Interior Design firm, Feng. was hired for this project. This being the firms first large scale project, the client hopes to cement their feet in the design industry with this endeavour. This appointment was formalized with an appointment letter from her to the firm. (Refer annexure blah) This project also asks for a number of consultants to deal with different issues such as the old wiring or the building, the structural soundness of the building after years of weather damage, etc. Considering some of the buildings that make up the British Council are over a hundred years old, and the others are a minimum of 70 years, a structural engineer will be needed to assess the buildings and deem them fit to be built on. Quantity Surveyors are required for preparing BOQs, tender evaluation etc. ME engineers as well for lighting, plumbing and HVAC. Also needed is a landscape designer to tend to the once lovely gardens of the old British Council in Colombo. An IT consultant is to be hired as well for the computer systems that are to be installed within Salutaris. A Project Manager is also required for overseeing of the construction with the contractor. 1.7 Scope of Consultancy services Fees The afore mentioned consultants except the project manager, were recommended by the designer and agreed on by the client thus forming a consortium in which all consultants answer to the designer, except for the project manager who is to be hired via the client. The designer receives 10% of the construction fee. The other consultants will be paid as follows (Refer next page please.) Consultant Percentage (%) of fee Mechanical and Electrical Engineer 1% of ME costs (ME costs come up to approx. 30% of construction cost) Structural Engineer 2.5% of total construction cost Quantity Surveyor 1.5% of total construction cost Project Manager 0.7% of total construction cost (Paid directly by client) IT consultant 0.1% of total construction cost Landscape designer 0.5% of total construction cost Table 1. Chapter TWO Brief 2.1 Clients Brief The design should include a spacious library, a restoration room for older documents and a viewing room for them. Budget rooms for writers or any member of the library who may need help because of their reading habits. Small hall area for poetry and book readings/launches. It has to look inconspicuous to the passer by. A good security system there will be no groups of angry people endangering the safety of Salutaris members. Allowance for landscaping. Natural surroundings are needed for relaxation and thought. 2.2 Investigations Context Study The site is surrounded by both residential and commercial buildings. The entrance of Salutaris is situated at the end of a road that branches from Duplication Road one of the busier roads in Colombo with retail shops and restaurants around the area. The back of the building, opens to a residential area and thus security will have to be located at the back to prevent mindless mobs getting onto the premises. 2.3 Site The former British Council in Colombo, currently owned by The British High Commission. 49, Alfred House Gardens, Colombo 3 One of the main features of The British Council that makes it ideal for the project is that it is much smaller than it looks from the outside. When one looks at the British Council from Duplication road, it looks like a small building, but you can only measure its scale when you walk on the grounds of the site itself. The British Council is made up of the original building that was build in 1932, and has had newer buildings put up around it. 2.4 Site Pictures 2.4.1 Buildings of significance around the area Fashion retail store Fashion Bug Restaurants Divine Foods, Cricket Club, Queens cafe Businesses and stores Dialog Telecom office, Raux Brothers, Triumph Head Office Residential structures Queens Court, The Byzantium 2.5 Demography As mentioned in the Project Proposal for Salutaris, after doing surveys and other relevant research, it was concluded that the end user demography for this project will be 12 30 year olds and older folk (aged 55 and above), due to the fact that smaller children may not get permission from their parents to be there and those aged 30 55 may not be able to make time for Salutaris as they need to attend to their families. The main similarity between these people is of course, their passion for reading, and that too of physical material. 2.6 Rules and Regulations During the construction of Salutaris, certain rules and regulations are to be followed, namely: The Fire Safety Regulations by the Fire dept. (Refer annexure blah) The Requirements for Disabled Accessibility by the Ministry of Social Services. [Refer annexure blah] The standards for libraries as in Neufert, Architects Data (Third Edition) (Refer annexure blah) Chapter THREE Pre-contract Stage 3.1 Designers Brief After meeting the client and surveying the site, an accommodation schedule was settled on as follows: A building housing the library of Salutaris. A restoration wing that will house a viewing room for old documents 5 accommodation units with attached bathrooms A reception area Washrooms x 20 Accounts office + printing/photocopying facilities etc. A Multipurpose hall for small events Cafeteria and small kitchen Storage area Staff rooms x 3 Guard room x 2 (Front and back entrance) 3.2 Costing Variety of the Project It was estimated by the quantity surveyor that the project budget would be approximately 48 million LKR and that an approximate price per sqft of this roughly 8000sqft site is 5500-6000 LKR. Costs for the project will be from labour costs, materials and the logistics of getting them onsite. It will also come from overhead expenses and indirect costs. 3.3 Recommendation of Type of Contract There are the types of contracts to consider: The Lump sum contract, in which a fixed sum of money is received for the work done. The Measure-and-Pay contract, in which certain amounts of money are received for each stage of the work. The amounts paid are in line with the percentage of work done on the project. The Time and Material contract. In this arrangement, the client, designer and contractor must agree on an hourly or daily fee. This contract is usually chosen when there are uncertainties about issues like materials availability etc. From the three types of contracts talked about above (lump sum, measure and pay, and time material), considering the scale of the project, the designers preferred contract would be the measure and pay contract. This contract allows for variances and a certain degree of flexibility within the design process for the duration of the project. 3.4 Schematic Design Stage Design Development The designer proceeds to prepare schematic design proposals to give the client and consultants an approximation of the project size and in what direction the project is to go in. If after this has been proposed to the client and she wishes to make any changes, it will be applied in the Detail stage. The design detail stage involves the designer then preparing detail design proposals that will include the changes wanted by the client from the schematic design proposals. (Refer annexure blah) 3.5 Statutory Approval (Local Authority/City Zoning) Authoritative approval is needed for the extension of existing buildings and the building of new ones on site. There will be no new buildings built however, as the client doesnt allow it. As the accommodation schedule features a cafeteria and kitchen, a Food Drink license is required. 3.6 Work Programme So that the client is kept up to date with the work progress, a work program was drawn up. (Refer annexure blah) Chapter FOUR Contract Documentation 4.1 Detail Design Stage A package of architectural and engineering drawings was prepared by the designer in collaboration with the relevant afore mentioned consultants. The package includes numerous plans, sections, elevations, relevant schedules and tear sheets, lighting plans, plumbing/sewage plans, design details, colours and materials. This was cross checked at several stages with the quantity surveyor who confirmed the final package as within the project budget of XXX LKR A bill of Quantities was then prepared with the required consultants and was approved of by the Quantity Surveyor who, with all issues in mind proceeded to draw up the tender document. 4.2 Tender Document The tender document comprised of the following Instruction to Tenderers Form of Tender and Appendix Form of Agreement and Conditions of Contract Specimen form of Performance Bond Specimen form of Advance Payment Guarantee Specification Pricing Preambles Bill of Quantities Schedule of Direct Contractors Schedule of named subcontractors List of drawings 4.2.1 Invitation to Tender An invitation to tender was published in The Daily News and The Sunday Observer on the 5th of April and 7th of April 2060 respectively. The tenderers were given a deadline of the 20th of May 2060. Included in the invitation were instructions to the tenderers and basic information about the project at hand. (Refer annexure blah) 4.2.2 Instructions to Tenderers This is general information to tenderers, including what exactly they should submit, by when they should submit it and how they should give it in. (Refer annexure blah) 4.2.2.1 Confidentiality Agreement Due to the social delicacy of this project, it was decided that any potential tenderer and all consultants should sign a Confidentiality agreement if he/she wants to be considered for the post as if word got out, there will be disturbances during construction in the form of protests etc. (Refer annexure blah) 4.2.3 Conditions of the Contract This includes the detailed terms and conditions for applying for the contract. (Refer annexure blah) 4.2.4 Form of Tender (Refer annexure blah) 4.2.5 Form of Agreement (Refer annexure blah) 4.2.6 General Specifications The general specifications go according to the following documents issued by the ICTAD (Institute for Construction Training And Development) SCA/3/1 Irrigation Land Drainage SCA/3/2 Water supply Sewerage storm water drainage SCA/4/1 II Building works Vol. I II SCA/8 Electrical Mechanical works (Refer annexure blah) 4.2.7 Form of Performance Bank Guarantee Before a contractor can be awarded the contract, he/she has to get a bank guarantee that satisfies the employer of all losses and damages that occur as a result of the contractor not working according to the contract. With this the contractor also confirms he/she has an all risk insurance in case of onsite accidents etc (Refer annexure blah) 4.2.7.1 Specimen Form of Bank Guarantee for Mobilization Advance Payment This is an additional guarantee from the bank, stating that they (the bank) guarantee the advance payment as specified by the employer. (Refer annexure blah) 4.2.8 Appendix to Form of Tender (Refer annexure blah) 4.2.9 Pricing Preambles (Refer annexure blah) 4.2.10 Tender Drawing List (Refer annexure blah) 4.2.11 B.O.Q This document invoices the materials, parts, labour and other costs of the project in question. This BOQ will also contain detailed terms and conditions the construction of the project and any repairs that may need to be made. Such a document exists for the contractor to put a price on the work for which theyre bidding. (Refer annexure blah) Chapter FIVE Tender Procedure 5.1 Invitation for Bids (Refer Page 9, Chapter 4.2.1 Invitation to Tender) 5.2 Pre Tender Meetings A meeting was held before the deadline for tenders to clear any doubts and to answer any questions that the tenderers had regarding the project. Present at this meeting were the designer and relevant consultants, along with the tenderers. 5.3 Tender Period The tender period for this project is from the date of the first invitation (5th April 2060) to the 20th of May 2060. 5.4 Receipt Tender Opening As mentioned above, the deadline for receiving tenders was the 20th of May 2060 and the tenders received by the end of that day were opened on the 23rd of the month in the presence of the designer, quantity surveyor and project manager. The results were as follows (Refer the next page please) T1 xxx million T2 xxx million T3 xxx million T4 xxx million T5 xxx million Where T is Tenderer. (All amounts in LKR) 5.5 Tender Evaluation After much consideration, it was decided that tenderer T3 and T4 were unsuitable for their extreme over estimation of the project costs. Tenderer T2 did not meet the requirements of the invitation to tender and was thus not considered. Tenderer T1s estimation was within range but numerous flaws were discovered in the documents received and they were out of the running. This left tenderer T5 whose estimation was higher than the estimated project cost, but their work was solid and on recalling the contractors past projects, it was found he was most suitable for this project. 5.6 Negotiation Meetings were then held with the contractor, client, project manager, quantity surveyor and designer present to negotiate the bid proposal initially received and thereafter the contractor submitted a revised bid proposal for the project. 5.7 Acceptance of Tender A letter of award was presently sent to tenderer T5 after negotiations took place. (Refer annexure blah) Chapter SIX Contract Administration 6.1 Award of Contract An award of contract letter was prepared for the client to send to tenderer T5 (from now own known as the contractor). This letter states among other things, that the mobilization advance has to be paid by the contractor within the said period after receiving the letter. It states the period of completion for the project and asks for certain documents to be submitted immediately, such as the: Advance guarantee acceptable to the client Workers compensation policy as per current labour regulations Programme of work in a format acceptable to the designer. (Refer annexure blah) 6.2 Bonds and Guarantees These are a form of security in the project for the client and designer from the contractor should anything go wrong. A performance bond is needed to guarantee the satisfactory completion of the project by the contractor. This comes in the form of a surety bond by a bank working with the contractor. The surety bond ensures payment is received by the client from the contractor should anything go against contract specifications on the contractors part. (Refer annexure blah) A contractors all risk policy covers damages to any relevant property during construction of the project and injuries and damage to third party property during construction. (Refer annexure blah) A retention bond is required and states that the contractor will have received his/hers full payment only when the project is signed off as having no off putting issues at the end of construction. (Refer annexure blah) 6.3 Signing of Contract On the 15th of June 2060, the signing of the contract between client and contractor took place after both parties agreed on the numerous terms and conditions mentioned in said contract. Copies of previously mentioned documents are also shared between the two parties. 6.4 Project Planning and Management The contractor will hand in a work programme (Refer annexure blah) that will cover the work thatll be done from the start of the project construction to the end of it. This will be reviewed and either be agreed on by the designer or will have significant changes made to it till both parties are content with the work programme. The project manager will receive regular updates from the contractor on what is happening onsite till the end of construction. 6.5 Handing of Site The award of contract letter should state that the site is to be handed over to the contractor and it is done so, along with the occupational health and safety requirements (Refer annexure blah) to ensure a safe and well oiled construction site. 6.6 Advance Payment At the stage of beginning construction, 80% of the project fees should have been paid to the designer who will in turn give to each consultant a certain percentage of the fee, while keeping a percentage of the contractors fee in accordance with the retention bond. 6.7 Commencement of Work Once the work programme submitted by the contractor is approved by the designer, project manager and other involved consultants, the contractor is given the go to start construction. 6.8 Site Organization This covers numerous topics such as the condition in which the land is given from the client to the contractor; the site should have some sort of temporary lodging for the builders if they are expected to stay onsite. They have to have access to running water and electricity to use their tools etc and for basic hygiene, among other things. Site organization is also considered for the duration of the project in different ways to those mentioned above. These include scheduled or recorded site visits by the project manager or designer and also consist of all related parties being informed on the works progress regularly. 6.9 Monitoring Progress and Site Inspections This will take place in the form of weekly or bi weekly meetings held between the designer, project manager, client and relevant parties in which everyone is briefed on work progress and it is made sure that everything is going according to the contract, health and safety regulations etc. 6.10 Site Visits and Instructions to Site As mentioned in chapter 6.8 (Site Organization), there will be a record of site visits made by the project manager, necessary engineers and the designer. This record will be in the form of a log book, also containing any instructions from the designer or engineers regarding the project that they may have stated when they visited the site at a particular time. 6.11 Quality Control During the mentioned site visits, inspections of quality will occur, making sure that the construction site is working in accordance to the contract and ICTAD specifications etc. 6.12 Variations and Extra Work As with any project, there are bound to be some variation from the original brief that was signed off on. These variations have to be documented in a physical form and should always be known by the client and designer. Such variations can occur: Due to unavailability of a certain material, leading the designer to have to substitute it for another. New structural requirements that were not initially identified. Changes in quantities and measurements resulting from errors in the drawing plan stages, New changes in government regulations that now disallow certain acts in construction to happen. 6.13 Interim Bills and Payments During this time, any expenses that the client needs to pay for will documented by the main contractor. 6.14 Delays and Extensions of Time With the project being in Sri Lanka, there are bound to be delays in work due to multiple factors, foreseen and unforeseen: The numerous holidays and festivals in Sri Lanka such as The Sinhala and Tamil New year, Vesak, Diwali, Ramadan, Poya days etc. Monsoon season. The project is in the middle of urban Colombo thus landslides are unlikely, and flooding is not known to be a problem in the area. Natural disasters Logistical delays Chapter SEVEN Completion 7.1 Practical Completion and Defects Liability Period After construction was completed a certificate of practical completion was issued by the designer, as was a final defect list, and a copy of that was handed over to the contractor to rectify within the first six months of the end of construction. (Refer annexure blah) 7.2 Certificate of Conformity At the end of those six months, there will be an inspection of the building and if it is found that all defects have been rectified, a Certificate of Conformity (Refer annexure blah) is issued. At this point the rest of the contractors fee is paid and he receives a Final Payment Certificate (Refer annexure blah) and with that, his contract is terminated. 7.3 Feedback Thereafter the project manager informs the relevant parties of the final completion of the project and if needed, meets with the parties for feedback. Chapter EIGHT Conclusion Salutaris is a haven to the literary geeks of this age that are shunned by society or would be shunned, if anyone knew their secret. There are the lucky few that do get away with reading, but they are the exception to the rule. Social trends can be counted on to blow over but as for how long it will take for this trend to do so, a trend that has been building up for decades, is an uncertainty; and that is one of the biggest reasons Salutaris will prosper. This feasibility report showcases the entire process of getting this project off the ground, from the appointment of the designer and consultants to the end of construction.

Ecofeminism- Links the domination of women and the domination of nature

Expanding Feminist Activism Ecological Feminism: local/global activism Ecofeminism- Links the domination of women and the domination of nature. Ecofeminism places importance on our connection as people of one earth and also recognizes how women have been, historically in the capitalist patriarchy, labeled as subordinate in relation to the dominating body. The environment falls into this subordinate category because it continues to be pressed and used to benefit the man machine. It may be hard for participants in the capitalist system to open their eyes and accept an ecofeminist stance when the realms of ecology and capitalism are held in opposition. "Ecofeminists do not support the idea that women's increased economic, political and social participation in the predominant, but also destructive and life-opposing socio-economic system is a good way to freedom" (Littig 15). It is our duty to act in ways that promote a change in the current system. My essay will explore not only the domination of nature and women everywhere by the capitalist system, it will also address the ways in which people are acting to promote ecological a wareness and the breakdown of a dualistic ideology. "We are constantly invited by those dutifully serving the gods of profit and production to turn our attention elsewhere, to downgrade our concerns, and to view the very economic system that has caused the present global degradation of the environment as the solution to the problems it has generated" (Foster 25). We do not have to completely reject the current social order. It simply needs to be infused with a more egalitarian social order. Instead of seeing nature and women as inferior and readily exploitable, their connection should be viewed as a ... ...e in proactive dialogue and know how important the environment is. We are a product of the environment. I suggest that everyone recognize the connection and respect it. Works Cited Cortese, Anthony. "History of Second Nature." (Nov. 2002) :n. pag. Online. Second Nature. Internet. 13 November, 2002. Available: http://www.secondnature.org/ Dale, Ann. At the Edge. Vancouver: UBC Press, 2001. Foster, John Bellamy. Ecology Against Capitalism. New York: Monthly Review Press, 2002. Littig, Beate. Feminist Perspectives on Environment and Society. Harlow, England: Prentice Hall, 2001. Schmandt, Jurgen, and Ward, C.H. eds. Sustainable Development: The Challenge of Transition. United Kingdom: Cambridge University Press, 2000. Sherman, Donna. "Gaia Arts." (Nov. 2002) :n. pag. Online. Gaia Arts. Internet. 12 November, 2002. Available: http://www.Gaiaarts.net/

Ephedrine and its use in Weight Loss :: Health Dieting Papers

Ephedrine and its use in Weight Loss Throughout the late nineteenth century and into the new millennium, there has been a tremendous desire among women to lose weight. Women today will do anything to achieve their belief of the perfect figure. While the â€Å"Barbie† look was at one time looked upon as unhealthy, it is now considered expected. For some reason women feel the need to keep up with Hollywood and its stars. Of course it does not help when the cover of any fashion magazine is pasted with size-zero models. After reading a magazine filled with beautiful, skinny women, people usually feel worse about the way they look, not better. So it is no surprise that the trend to lose weight has taken off in the past couple of years. And with this trend comes the increased popularity in â€Å"weight-loss† products. One can find any type of product now that claims to lose weight effectively, but at what cost to his/her health? One very controversial herb found in diet pills or food supplements is ep hedrine. Purpose of Ephedrine: While ephedrine is used to treat low blood pressure and chronic asthma, it is more popularly used in diet pills (http://www.ravehard.com/doctor/ephidra.htm). Ephedrine is a natural stimulant found in many diet pills offered today. According to the Clinical Toxicology Review, ephedrine mainly affects the cardiovascular and respiratory systems of the body. This means that it constricts blood vessels and enhances certain actions of the heart (http://www.dr-bob.org/babble/20000401/msgs/29022.html). In a clinical review; Capri-Mara Fillmore, Lisa Bartoli, Richard Bach, and Young Park 1999, they stated that ephedrine stimulates the sympathomimetic and central nervous system.

A Global Overview of a Fast Relief Market

A Project Report On A Global Overview Of A FAST RELIEF Market Submitted in Partial fulfillment for the requirement of the Degree of Master of Business Administration (International Business) from SUS College of engineering and technology,Tangori, Mohali.. Under the Guidance of: Submitted to: Mr. SUNIL Mr. ANIL Mr. PANKAJ SIR Submitted By: NANCY GOYAL MBA Acknowledgement I am very much thankful to Mr. Karun Narang (MD, Eastern Medikit Ltd. ) and Mr. D.Tyagi (AGM, Eastern Medikit Ltd) who allowed me to undergo summer training in their esteemed organization. This report deserves the special mention of few names, Mr. SUNIL PALand Mr. ANIL KUMAR SINGH , who guided me all the way and helped me at each of the stage. They helped me to gain knowledge about the various aspects of their organization. They shared their professional experiences, which will be very much useful for me in the long run. I would like to give a bunch of thanks to Mr. Bhupendra Singh, Mr. Krishna Sharma, Mr. V. P. Joshi , Mr. Jagmohan Roy, Mr. Pankaj Pandey, Mr. Amit Sharma, Mr. Guru Prasad, Mr. Pradeep Dua, Mr.Kunjal Patel, Mr. Ajay Sharma, Miss Piyali Chakraborty and Mr. Ankkur who helped me to improve my research work. I can not forget to thank all those people who directly or indirectly cooperated me during my training period. NANCY GOYAL SUS C. E. T TANGORI MOHALI.. INDEX * Introduction What is Fast Relief Medikit’s fast relief Details Competitors and Their Profile * SWOT Analysis PEST Analysis * Competitive analysis * Marketing mix * Strategies * Costs * Media costs Eastern Medikit Ltd Medikit is the India’s largest medical device export company Medikit has 5 manufacturing facilities in and around Gurgaon, covering 125,000 sq. ft with 25,000 sq. ft as class 10,000 and class 1,00,000 clean rooms. Our organizational strengths are rooted within Medikit's unique flexibility to evolve and improve products and processes by deployment of globally competent manufacturing practices. Read Chapter 8 Microbial GeneticsWith ongoing in-house development of proprietary equipment and manufacturing techniques, our research and development activities along with our exclusive design and development centre ensure that Medikit is customer-driven and stays ahead, always. FAST RELIEF Definition â€Å"Fast relief† is a pain reliever product of medikit ltd. It is a extra strong pain reliever product. The main competitors of this is MOOV and HIMANI FAST RELIEF.. The new launched product fast relief has a unique and ayurvedic composition elements.. like Oil of wintergreen 15. 0%Pudina ka phool 5% Tarpin tel 3% Nilgiri tel 2% Base (bees wax) q. s. All these ingredients provides ‘sootthing warmth’ to relieve pain instantly.. which is the requirement. Purpose The purpose of this product is basically to give relief instantly from the backache pain. It works with its special ingredients to give relief from the backache. Its main purpose is to give warmth and soothi ng feeling at the pain area and to give quick relief.It works like a miracle at the pain.. Company’s Product Details MedifinTM| |   FAST RELIEF from MEDIKIT | | | Geographic Markets:DELHI , UP, MUMBAI, VARANASI, CHENNAI, BANGLORE, CHANDIGARH, LUCKNOW.. | | Product Details | Benefits| Being in topical form it is devoid of all undesireable effects of oral route.. | So it helps to maintain the valid effects. | Soft and therapeutic. | Gives instant relief. | Starts work immediately after application. | Complies with standard and quality norms. | Attractive design and coloured packaging. | Gives satisfaction quickly.. Gives soothing warmth. | To improve the body muscles so that relive remains for more time. | No sideeffects . | An ayurvedic cure. | Topical preparation gives therapeutic effects only at the site of application that’s local relief.. | Cheap and economical. Specially for common man. | MARKETING OF THE PRODUCT.. INTRODUCTION.. MARKETING IS ONE OF THE IMPORTANT ASPECT OF ANY BUSINESS AND SO WE WOULD ANALYSE VARIOUS MARKETING STRATEGIES MAINLY PEST ANALYSIS AND SWOT ANALYSIS , COMPETITIVE ANALYSIS ARE BEEN DONE AND EXPLAINED IN THERE..MARKET SEGMENTATION AND TARGETING.. DELHI,UP,MUMBAI, VARANASI,BRALIEY,CHENNAI,BANGLORE, CHANDIGARH,LUCKNOW,MP,CALCUTTA. AGE- ABOVE 30 YEARS. GENDER- SPECIALLY FOR FEMALES. FAMILY SIZE- FOR BOTH BIG AND NUCLEAR FAMILIES SOCIO ECO CLASS- MIDDLE AND LOWER MIDDLE CLASS. PEST ANALYSIS.. Pest analysis stands for political,economical,social,and,technological analysis of macroenviornmental factors used in the environmental scanning component of strategic management. it is a part of the external analysis when onducting a strategic analysis or doing market research and gives a certain overview of the different macroenviornmental factors that the company has to take into the consideration. It is a useful strategic tool for understanding market growth or decline, business position, potential,and direction for operations. . POLITICAL- Govt support. , no risk for OTC brands. ECONOMIC- It is cheap and economical.. as it is available in different-different small packaging. It enhances the GDP growth and liberlisation.SOCIAL- Its is a innovative product suits the demands of the changing preferences of the society. It is suitable for the needs and aspirations of the common individual. TECHNOLOGICAL- It is made by the use of best technological machines. It has given a quality packaging with double lamination on the outer and inner area of the tube. SWOT ANALYSIS. Swot analysis is a strategic planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture..STRENGTHS- It is an ayurvedic product. It is quick and instant pain reliever than any other relief balm. Its branding is fabulous and standardized Its channels of distribution and dedicated Employees working for its successful promotion. A huge capital investment.. WEAKNESS- It is a new product in the market. It has low market share now. OPPORTUNITIES- There is a huge market demanding innovation And change.Changing tastes and preferences of consumers. THREATS- The problem of brand loyality and mindset of Consumres regarding a specific product and its Quality. Popularity of competitive brands like moov. The condition of market is also a big threat. . POSITIONING STRATEGY.. The positioning strategy is an effective and important instrument for a business venture and for the product as well. As it causes the success of the product.. â€Å"FAST RELIEF† â€Å"AN AYURVEDIC CURE FOR YOUR PAIN†The positioning strategy should be strong and effective enough to make the product strong and popular.. TARGET AUDIENCE The main target audience are middle class family and low midlle class family woman, who works in the offices as well as in homes and have no time to go to doctors for their ignorable backaches.. INDUSTRY PROFILE Industry Definition â€Å"The Indian pha rmaceutical industry is a success story providing employment for millions and ensuring that essential drugs at affordable prices are available to the vast population of this sub-continent. † Richard GersterThe Indian Pharmaceutical Industry today is in the front rank of India’s science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. A highly organized sector, the Indian Pharma Industry is estimated to be worth $ 4. 5 billion, growing at about 8 to 9 percent annually. It ranks very high in the third world, in terms of technology, quality and range of medicines manufactured. From simple headache pills to sophisticated antibiotics and complex cardiac compounds, almost every type of medicine is now made indigenously.Playing a key role in promoting and sustaining development in the vital field of medicines, Indian Pharma Industry boasts of quality producers and many units approved by regulatory authorities in USA and U K. International companies associated with this sector have stimulated, assisted and spearheaded this dynamic development in the past 53 years and helped to put India on the pharmaceutical map of the world. The Indian Pharmaceutical sector is highly fragmented with more than 20,000 registered units. It has expanded drastically in the last two decades.The leading 250 pharmaceutical companies control 70% of the market with market leader holding nearly 7% of the market share. It is an extremely fragmented market with severe price competition and government price control. The pharmaceutical industry in India meets around 70% of the country's demand for bulk drugs, drug intermediates, pharmaceutical formulations, chemicals, tablets, capsules, orals and injectibles. There are about 250 large units and about 8000 Small Scale Units, which form the core of the pharmaceutical industry in India (including 5 Central Public Sector Units).These units produce the complete range of pharmaceutical f ormulations, i. e. , medicines ready for consumption by patients and about 350 bulk drugs, i. e. , chemicals having therapeutic value and used for production of pharmaceutical formulations. Following the de-licensing of the pharmaceutical industry, industrial licensing for most of the drugs and pharmaceutical products has been done away with. Manufacturers are free to produce any drug duly approved by the Drug Control Authority.Technologically strong and totally self-reliant, the pharmaceutical industry in India has low costs of production, low R&D costs, innovative scientific manpower, strength of national laboratories and an increasing balance of trade. The Pharmaceutical Industry, with its rich scientific talents and research capabilities, supported by Intellectual Property Protection regime is well set to take on the international market. ADVANTAGE IN INDIA Competent workforce: India has a pool of personnel with high managerial and technical competence as also skilled workforce. It has an educated work force and English is commonly used. Professional services are easily available. Cost-effective chemical synthesis: Its track record of development, particularly in the area of improved cost-beneficial chemical synthesis for various drug molecules is excellent. It provides a wide variety of bulk drugs and exports sophisticated bulk drugs. Legal & Financial Framework: India has a 53 year old democracy and hence has a solid legal framework and strong financial markets. There is already an established international industry and business community.Information & Technology: It has a good network of world-class educational institutions and established strengths in Information Technology. Globalization: The country is committed to a free market economy and globalization. Above all, it has a 70 million middle class market, which is continuously growing. Consolidation: For the first time in many years, the international pharmaceutical industry is finding great opportun ities in India. The process of consolidation, which has become a generalized phenomenon in the world pharmaceutical industry, has started taking place in India.THE GROWTH SCENARIO India's US$ 3. 1 billion pharmaceutical industry is growing at the rate of 14 percent per year. It is one of the largest and most advanced among the developing countries. Over 20,000 registered pharmaceutical manufacturers exist in the country. The domestic pharmaceuticals industry output is expected to exceed Rs260 billion in the financial year 2002, which accounts for merely 1. 3% of the global pharmaceutical sector. Of this, bulk drugs will account for Rs 54 bn (21%) and formulations, the remaining Rs 210 bn (79%).In financial year 2001, imports were Rs 20 bn while exports were Rs87 bn. The above graph shows the percentage of pharmaceutical products export by various countries. (SOURCE Competitiveness of the Indian pharmaceutical industry in the new product patent regime a report by FICCI) RESEARCH AND DEVELOPMENT Drug discovery is the process by which potential drugs are discovered or designed. In the past most drugs have been discovered either by isolating the active ingredient from traditional remedies or by serendipitous discovery.Modern biotechnology often focuses on understanding the metabolic pathways related to a disease state or pathogen, and manipulating these pathways using molecular biology or Biochemistry. A great deal of early-stage drug discovery has traditionally been carried out by universities and research institutions. Drug development refers to activities undertaken after a compound is identified as a potential drug in order to establish its suitability as a medication. Objectives of drug development are to determine appropriate Formulation and Dosing, as well as to establish safety.Research in these areas generally includes a combination of in vitro studies, in vivo studies, and clinical trials. The amount of capital required for late stage development has mad e it a historical strength of the larger pharmaceutical companies Often, large multinational corporations exhibit vertical integration, participating in a broad range of drug discovery and development, manufacturing and quality control, marketing, sales, and distribution. Smaller organizations, on the other hand, often focus on a specific aspect such as discovering drug candidates or developing formulations.Often, collaborative agreements between research organizations and large pharmaceutical companies are to explore the potential of new drug substances formed The cost of innovation Drug discovery and development is very expensive; of all compounds investigated for use in humans only a small fraction are eventually approved in most nations by government appointed medical institutions or boards, who have to approve new drugs before they can be marketed in those countries.Each year, only about 25 truly novel drugs (New chemical entities) are approved for marketing. This approval come s only after heavy investment in pre-clinical development and clinical trials, as well as a commitment to ongoing safety monitoring. Drugs which fail part-way through this process often incur large costs, while generating no revenue in return. If the cost of these failed drugs is taken into account, the cost of developing a successful new drug (New chemical entity or NCE), has been estimated at about 1 billion USD.A study by the consulting firm Bain ; Company reported that the cost for discovering, developing and launching (which factored in marketing and other business expenses) a new drug (along with the prospective drugs that fail) rose over a five year period to nearly $1. 7 billion in 2003. These estimates also take into account the opportunity cost of investing capital many years before revenues are realized (see Time-value of money). Because of the very long time needed for discovery, development, and approval of pharmaceuticals, these costs can accumulate to nearly half the total expense.Some approved drugs, such as those based on re-formulation of an existing active ingredient (also referred to as Line-extensions) are much less expensive to develop. The consumer advocacy group Public Citizen suggests on its web site that the actual cost is under $200 million, about 29% of which is spent on FDA-required clinical trials. For me-too-drugs and for generics, the cost are even less. Calculations and claims in this area are controversial because of the implications for regulation and subsidization of the industry through federally funded research grants.Controversy about drug development and testing There have been increasing accusations and findings that clinical trials conducted or funded by pharmaceutical companies are much more likely to report positive results for the preferred medication. In response to public outcry about specific cases in which unfavorable data from pharmaceutical company-sponsored research was suppressed, the Pharmaceutical Research and Manufacturers of America have published new guidelines urging companies to report all findings and limit the financial involvement in drug companies of researchers.As a result of this public outcry and Pharma response the US congress signed into law a bill which requires phase II and phase III clinical trials to be registered by the sponsor on the NIH website Drug researchers not directly employed by pharmaceutical companies often look to companies for grants, and companies often look to researchers for studies that will make their products look favorable. Sponsored researchers are rewarded by drug companies, for example with support for their conference/symposium costs.Lecture scripts and even journal articles presented by academic researchers may actually be ‘ghost-written' by pharmaceutical companies. Some researchers who have tried to reveal ethical issues with clinical trials or who tried to publish papers that show harmful effects of new drugs or cheaper alternative s have been threatened by drug companies with lawsuits. Product approval in the US In the United States, new pharmaceutical products must be approved by the FDA as being both safe and effective.This process generally involves submission of an Investigational new drug filing with sufficient pre-clinical data to support proceeding with human trials. Following IND approval, three phases of progressively larger human clinical trials may be conducted. Phase I generally studies toxicity using healthy volunteers. Phase II can include Pharmacokinetics and Dosing in patients, and Phase III is a very large study of efficacy in the intended patient population. A fourth phase of post-approval surveillance is also often required due to the fact that even the largest clinical trials cannot effectively predict the prevalence of rare side-effects.Post-marketing surveillance ensures that after marketing the safety of a drug is monitored closely. In certain instances, its indication may need to be li mited to particular patient groups, and in others the substance is withdrawn from the market completely. Questions continue to be raised regarding the standard of both the initial approval process, and subsequent changes to product labeling (it may take many months for a change identified in post-approval surveillance to be reflected in product labeling) and this is an area where congress is active. The FDA provides information about approved drugs at the Orange Book site. In the UK, the British National Formulary is the core guide for pharmacists and clinicians. Orphan drugs There are special rules for certain rare diseases (â€Å"orphan diseases†) involving fewer than 200,000 patients in the United States, or larger populations in certain circumstances. Because medical research and development of drugs to treat such diseases is financially disadvantageous, companies that do so are rewarded with tax reductions, fee waivers, and market exclusivity on that drug for a limited t ime (seven years), regardless of whether the drug is protected by patents.Industry revenues For the first time ever, in 2006, global spending on prescription drugs topped $643 billion, even as growth slowed somewhat in Europe and North America. The United States accounts for almost half of the global pharmaceutical market, with $289 billion in annual sales followed by the EU and Japan. Emerging markets such as China, Russia, South Korea and Mexico outpaced that market, growing a huge 81 percent. US profit growth was maintained even whilst other top industries saw slowed or no growth. Despite this, â€Å".. he pharmaceutical industry is — and has been for years — the most profitable of all businesses in the U. S. In the annual Fortune 500 survey, the pharmaceutical industry topped the list of the most profitable industries, with a return of 17% on revenue. † Pfizer's cholesterol pill Lipitor remains the best-selling drug in the world for the fifth year in a row. Its annual sales were $12. 9 billion, more than twice as much as its closest competitors: Plavix, the blood thinner from Bristol-Myers Squibb and Sanofi-Aventis; Nexium, the heartburn pill from AstraZeneca; and Advair, the asthma inhaler from GlaxoSmithKline.IMS Health publishes an analysis of trends expected in the pharmaceutical industry in 2007, including increasing profits in most sectors despite loss of some patents, and new ‘blockbuster' drugs on the horizon. Teradata Magazine predicted that by 2007, $40 billion in U. S. sales could be lost at the top 10 pharma companies as a result of slowdown in R&D innovation and the expiry of patents on major products, with 19 blockbuster drugs losing patent. STEPS TO STRENGTHEN THE INDUSTRY Indian companies need to attain the right product-mix for sustained future growth.Core competencies will play an important role in determining the future of many Indian pharmaceutical companies in the post product-patent regime after 2005. Indian companies, in an effort to consolidate their position, will have to increasingly look at merger and acquisition options of either companies or products. This would help them to offset loss of new product options, improve their R&D efforts and improve distribution to penetrate markets. Research and development has always taken the back seat amongst Indian pharmaceutical companies.In order to stay competitive in the future, Indian companies will have to refocus and invest heavily in R&D. The Indian pharmaceutical industry also needs to take advantage of the recent advances in biotechnology and information technology. The future of the industry will be determined by how well it markets its products to several regions and distributes risks, its forward and backward integration capabilities, its R&D, its consolidation through mergers and acquisitions, co-marketing and licensing agreements. INTRODUCTION TO EASTERN MEDIKIT LTDCOMPANY PROFILE â€Å"A company empowered by one mission †“to place itself on the world map. An enterprise propelled by one force-that synergizes its energies to charter unexplored markets. Organizations fuelled by one dream-to transform competition into opportunity. † Eastern Medikit Ltd Laboratories Ltd. was incorporated in June 1961, in the name of M/S LEPITIT EASTERN MEDIKIT LTD LABORATORIES LTD and it commenced its business in MARCH 1962, in technical and financial collaboration with an international company named LEPTIT SPA, MILAN, ITALY.Eastern Medikit Ltd Laboratories Pvt. Ltd. merged with â€Å"Leptit Eastern Medikit Ltd Laboratories Pvt. Ltd. † in 1962 Eastern Medikit Ltd and company also merged with this company in 1966. The collaboration arrangement with M/S LEPTIT was terminated in 1966; after which Indian nationals acquired the entire share capital of the company. Therefore the word Leptit was removed from the name of the company. The name is known as EASTERN MEDIKIT LTD LABORATORIES LIMITED. In 1973 the compan y issued shares to the general public and became a full fledged PUBLIC LIMITED COMPANY.Today, Eastern Medikit Ltd has emerged as a Leading Pharmaceutical Company on the Indian firmament, with the second largest market share and enjoys an enviable reputation for its high standard of ethics and quality around its core strength of anti-infective, it has produced new brands in emerging therapeutic areas like cardiovascular, central nervous system and nutritional. supporting this expansion, the company has invested in world class manufacturing infrastructure that leverages India’s comparative cost advantage and skilled manpower, while delivering international quality.The company’s drive for Internationalism is guided by the well planned brand strategy that covers some of the world emerging markets like China, cis, Central Europe and Latin America . Its position today is in league of the Top Ten Pharmaceutical companies of three world an decent ranking as the eleventh larges t company in the international generics space is the resounding endorsement of its strategic mind. It is clear that for a long time, the dominant share of revenues of the company would continue to come from the ever expanding global generics market.Hence the intent of Eastern Medikit Ltd mission is to achieve a sustained growth rate through the continuous pursuit of innovation phase one trials for pervasion, a compound for treating prosthetic males have been completed. Phase 1 trials with clafrinast, an asthma compound is an important step towards research based value creation. This company also had success with Ciplofloxacine, an ingenious form, created through the novel drug delivery systems research.As the demand of the bulk drugs inside the country and abroad was increasingly rapidly a new, plant was set up at Toansa near Ropar in 1987. This was a higher capacity plant designed to cater to the present and future needs, initially antibiotics like Ampicillin, Trihydrate and Doxycy cline were manufactured. Later, on the other drugs like Cephalexin monohydrate and Ranitidine were also prepared. The plant at Toansa was designed to meet the stringent standards set by the Food and Drug Administration (FDA) of U. S. A.This plant has been approved by FDA and this will open up American and other newer markets for Eastern Medikit Ltd’s products At present Eastern Medikit Ltd have four plants for the manufacture of bulk drugs two at Mohali, one at Dewas (M. P) AND Another at Toansa near ROPAR. At present, Eastern Medikit Ltd is the second most Indian company engaged in the manufacturing of Pharmaceuticals, Bulk Drugs and Fine Chemicals. EASTERN MEDIKIT LTD’s vast range of highly pure laboratory reagent and chemicals enjoy a place of pride in the market.IT trends, has rebuilt As a step towards leveraging information for value creation using its information backbone around an ERP application, along the focus on reengineering several business processes aroun d the internet and has putting place business solutions that challenge existing ways of doing Business. The undying spirit of the company’s human assets and their intensive competitive and entrepreneurial energy has played a great part in transforming the company into a multicultural and multiracial team.Today, Eastern Medikit Ltd is the largest exporter accounting for 12% of the industry exports pharmaceutical substance and dosages forms to over 50 countries with the internationals sales comprising of 45% of the total turnover. VISION: GARUDA During the year 2002, the company has evolved a 10-year vision till 2012, for sustaining significant growth consistent with its mission to be an international research based Pharmaceutical Company, under the rubric ‘Vision Garuda’, with increasing emphasis on Novel Drug Delivery Systems Research (DDR).In licensing and out licensing, relationship with other important pharmaceutical entities, expansion of manufacturing facili ties both in India and strategic overseas locations, revamping of organizational structures to cater to the wider and more dispersed span of operations, and streamlining and standardizing the business processes through out the global organization, are other areas that receive focus and attention of management on priority. Mission â€Å"To become a Research based International pharmaceutical company† Vision-2012 Achieve significant business inProprietary prescription products By 2012 With a strong presence in developed markets Aspirations-2012 Aspire to be a$5 billion company Become a Top 5 global generics player Significant income from Proprietary products BOARD OF DIRECTORS At the helm entire operations is the experience and able direction of the people who make it all happen. Eastern Medikit Ltd acknowledges their inspiring stewardship and indefatigable work. * Mr. Tejendra Khanna(Chairman) * Mr. D. S. Brar (CEO $ Managing Director) * Mr. V. K. Kaul (Whole Time Director) * Dr.Brian Tempest (Whole Time Director) * Mr. Surendera Daulet Singh * Mr. Harpal Singh * Mr J. W. Balani * Mr. N. Kampani * Mr. V. Bharat Ram * Mr. Vivek Mehra Mr. Tejendra Khanna Mr. Tejendra Khanna was elected Chairman at a meeting of the Board of Directors of Eastern Medikit Ltd Laboratories Limited held at New Delhi, on July 5, 1999. Mr. Khanna, former Commerce Secretary to the Government of India, and a former Lieutenant Governor of Delhi is widely regarded as an expert in International Trade and Public Administration. Mr. D. S. BrarHe was instrumental in developing the Pharmaceutical exports business of the company in early 80’s, which later became synonymous with major growth and expansion of company’s portfolio. In addition to the International business, he looked after the Animal Healthcare & OTC businesses of the company. In 1986, he took over the Pharma business in India along with Chemical Manufacturing Operations. In early 90’s he led the companyâ⠂¬â„¢s expansion into overseas markets creating joint ventures, affiliates and subsidiaries in major countries like China, Russia, U. K. , South Africa and the USA.In 1996, he took over as the President of the company. Mr. V. K. Kaul Graduated in 1964 (B. Sc. Hons, Physics) from Ramjas College, University of Delhi, Mr. V. K Kaul joined the Institute of Chartered Accountants of India F. C. A. He is recognised in the industry for his vast experience and variegated knowledge. Dr Brian W. Tempest Dr Tempest joined Eastern Medikit Ltd as Regional Director- Europe, CIS & Africa in 1995 and subsequently took charge of Eastern Medikit Ltd’s worldwide pharmaceuticals business as President-Pharmaceuticals in the year 2000. In July 2001 he was appointed on the Board of Directors of Eastern Medikit Ltd.Dr. Tempest, 54, has worked in the Pharmaceutical Industry for 28 years, bringing in a wealth of global pharmaceutical experience and expertise. He has worked with leading multi-national c ompanies across several international markets including USA, Japan, Europe, China and other countries in Africa and Asia-Pacific. His unique combination of experience with both research-based and generic companies will be an asset in driving the company's growth in times ahead. Dr. Tempest is a Bachelor of Science with Honors from Aston University, specializing in Chemistry.He followed it up with a PhD in Polymer Chemistry from Lancaster University. Mr. Malvinder Mohan Singh Mr. Malvinder Mohan Singh is an Honors Graduate in Economics from Delhi University followed by a Masters Degree in Business Administration from Duke University, USA. He started his career with the American Express Bank and joined Eastern Medikit Ltd in May 1998. After holding several positions in the Company, has been appointed as â€Å"President Pharmaceuticals and Whole-time Director†, Eastern Medikit Ltd Laboratories Limited effective January 1, 2004OPERATING JOINT VENTURES AND SUBSIDIARIES BRAZIL:East ern Medikit Ltd S. P. Medicamentos Ltd. CHINA:Eastern Medikit Ltd (Guangzhou China) Ltd. EGYPT:Eastern Medikit Ltd Egypt Ltd. GERMANY: Basics Gmb H. HONG KONG:Eastern Medikit Ltd (Hong Kong) Ltd. INDIA:Rexcel pharmaceuticals Ltd. , Solus pharmaceuticals Ltd. , Vidyut Travel Services ltd. IRELAND:Eastern Medikit Ltd Ireland Ltd. MALAYSIA:Eastern Medikit Ltd (Malaysia) Sdn. Bhd. NETHERLANDS:Eastern Medikit Ltd Pharmaceuticals B. V. NIGERIA:Eastern Medikit Ltd Nigeria Ltd. PANAMA:Eastern Medikit Ltd Panama SA.POLAND:Eastern Medikit Ltd Poland Sp. Zo. SOUTH AFRICA:Eastern Medikit Ltd (SA) (Pty. ) Ltd. THAILAND:Unichem pharmaceuticals LTD. , Unichem Distributors Ltd. Part, Eastern Medikit Ltd Unichem CO. Ltd. U. K:Eastern Medikit Ltd (UK) Ltd USA: Eastern Medikit Ltd pharmaceuticals Inc. Ohm Laboratories Inc. , Eastern Medikit Ltd Schein Pharma, LLC VIETNAM: Eastern Medikit Ltd Vietnam Company Ltd. ALLIED BUSINESSES Eastern Medikit Ltd Animal Health The Animal Health division saw an enco uraging growth despite the prevailing poor market conditions.The division grew at twice the growth rate recorded in the industry. On the basis of having a vast dome satiated animal population, the livestock, poultry business and pets business are among the fastest growing sectors in India. A vast infrastructure of veterinary colleges, agricultural institutes, technologists and researchers are helping farmers to source healthy, cost effective products. In conjunction with the present scenario, the AHC division of Eastern Medikit Ltd Laboratories Limited has introduced several latest generation products. Eastern Medikit Ltd Fine Chemicals Limited (RFCL)The division ranked 4th in the industry and captured 11% market share. RANKEM is established as a powerful brand, RFCL's brand for its range of Reagents is now synonymous with excellence in reagents and fine chemicals in the country. The focus of business remains on developing extensive customer relations; enhancing service levels and e nriching the product mix with the help of a qualified and competent marketing and sales team Diagnostics The diagnostics division has aggressively focused on market expansion activities based on strategy of reliability, quality products and efficient service.Introduction of products in ‘Point of Care’ markets has expanded market presence and over the next 1 – 2 years this segment will see considerable expansion in line with world trends. The Dade Behring segment has increased its installation base by 60% in leading hospitals and laboratories. Plans are afoot for the introduction of more parameters for the ‘Point of Care’ market and the launch of Special Chemistries, a range of drug assays, plus an entry into automated microbiology in both the Base and Dade Behring business areas. The company has also witnessed significant milestones in the area of Novel Drug Delivery Systems (NDDS).The company has entered into strategic business arrangements with com panies such as Bayer AG, Glaxo-Wellcome, Eli-Lilly etc. for production and co-marketing operations. Many innovative developments have been taking place in recent times. The company’s research team is capable of developing one NDDS product every 12 to 18 months. Also, two new products: Roletra-D and Altiva-D, will soon be launched in India. In order to expand and promote global growth, the company opened several new markets during the year, notably in Brazil, where 25 filings were undertaken in a span of 2-3 months.The company has planned to build and protect intellectual property with the help of IPC, which addresses all matters pertaining to patents. CQA supervises the implementation of standard operating procedures (SOP) and ensures compliance to corporate quality assurance policy in all technological operations of the organization. The company is committed to invest 6% of the sales in R and D by 2003, of which 7% of the expenditure will be earmarked for research on New Dru g Discovery and Novel Drug Delivery Systems.There will be continuous emphasis on augmenting R and D performance and productivity with advanced scientific and technological tools. VALUES OF EASTERN MEDIKIT LTD LABORATORIES LIMITED 1. Achieving customer satisfaction is fundamental to their business. 2. Practice dignity and equity in relationships and provide opportunities for people to realize their full potential. 3. Ensure profitable growth and enhance wealth of shareholders. 4. Foster mutually beneficial relationships with all their business partners. 5. Manage their operations with concern for safety and environment. 6.Be a responsible corporate citizen. OBJECTIVES OF EASTERN MEDIKIT LTD LABORATORIES LTD. 1. To be a leader in the Pharmaceutical industry. 2. To be a profitable company with a steady growth in earnings. 3. To set an example as a socially responsible company. 4. To diversify in health care related areas. 5. To strive for excellence and continuous improvement in all sp heres. 6. To improve the quality of life of people by providing better services and quality products. Environment, Health and Safety [EHS] Caring for the Environment is a core corporate value and as a part of this commitment.The Company enunciated its EHS policy in 1993. The Company’s EHS policy provides for the creation of a safe and healthy workplace and a clean environment for employees and the community. It aims at higher international standards in plant design, equipment selection, maintenance and operations. The policy seeks to manufacture products safely and in an environmentally responsible manner. The implementation of the EHS Policy is ensured by institutionalizing a robust EHS Management system, adequately supported by well defined organizational structure.As a part of EHS processes at the corporate level, besides laying down guidelines on systems, policy and training, the corporate EHS office monitors compliance, maintains and disseminates information on laws and regulations. EHS performance review meetings are held on regular basis to monitor the progress against agreed EHS improvement plans. Close cooperation between all units and individuals is the key to maintaining high standards of environment protection and safety in all the plants.The key processes at location level comprise of regular safety surveillance, inspections & audits, Permit to work system for operational / maintenance safety, Fire prevention & protection activities, operation of the ETP/Incinerator, disposal activities related to hazardous wastes, regular monitoring of the environment internally and also through approved laboratories. Monthly reports address EHS initiatives, compliance & various records under the statutory requirement, training of employees including contract employees on EHS awareness, interaction with the residential associations/nearby community etc. celebration of National safety day, fire day, Environment day etc. for EHS awareness among employees. Th e manufacturing facilities for bulk drugs and dosage forms comply with the stringent requirements of Good Manufacturing Practices (GMP) and Good Laboratory Practices (GLP) and are approved by International health and regulatory Agencies like FDA – USA, MCA – UK, WHO etc. These practices and approvals ensure that an effective framework is always in place, not only for manufacture of high quality products, but also for effective use of resources and reduction of wastes as well as high safety & hygiene standards.Eastern Medikit Ltd has made significant improvements in process safety of the existing manufacturing facilities by providing extensive instrumented safety protection systems. The intended safety features are incorporated in the basic design of the new projects. Investments have been made on process improvements as well as effluent treatment plant up-gradation using the latest membrane based technology, multi-effect thermal evaporation system and state-of-the-art Incinerator. These investments have helped to reduce discharges of contaminants into the environment.With the facilities installed at Toansa for recycling of the treated effluent, the site has achieved the status of â€Å"zero discharge site†. The Company also engages with the concerned authorities and industry in devising responsible laws, regulations and standards and thus making safety, occupational health & environmental information and expertise available to its employees and the community at large. Eastern Medikit Ltd has made EHS concerns and practices a necessary factor in appraising its employee performance.The Company also accords a very high priority to hygiene monitoring at work place and health assessment of all employees at site. The plant and processes are continuously upgraded to improve hygiene and health standards. Necessary training is imparted to the employees to enhance their awareness towards health related matters. Safety knowledge of the employees is c onstantly updated through various external and in-house training programs, including special training programs by overseas experts & consultants.Moving up the value chain, the company identified Consumer Healthcare as its new business area in the year 2001. Eastern Medikit Ltd Global Consumer Healthcare (RGCH) was launched in October 2002 with a portfolio of 4 switch brands: Revital, Pepfiz, Gesdyp & Garlic Pearls. Since these brands were already popular amongst consumers and represented the leading common ailment categories like VMS (Vitamins & Minerals Supplement), this portfolio was carefully created for the introduction of RGCH to the Indian market.Subsequently in 2004, RGCH launched its first herbal range of products through New Age Herbals (NAH) with products offering remedy in categories of Cough & Cold (Olesan Oil & Cough Syrups) and Appetite Stimulant (Eat Ease). VARIOUS DIVISIONS OF EASTERN MEDIKIT LTD LABORATORIES LTD. 1. Chemical Division 2. Diagnostic Division 3. Stan c are Division 4. Curradia Division 5. International Division 6. Pharmaceutical Division 7. Technical Division 8. Corporate Division 9. Animal Health Care Division DIVISIONS IN VARIOUS GEOGRAPHICAL AREAS 1. India and Middle East 2. Europe, CIS and Africa 3.Asia Pacific and Latin America 4. North America JOINT VENTURE OF THE COMPANY. 2000Eastern Medikit Ltd files IND Application for Asthma Molecule- RBx4638, after successful completion of pre-clinical studies. Eastern Medikit Ltd acquires Bayer’s Generics business (trading under the Name of Basics) in Germany. Eastern Medikit Ltd forays into Brazil, the largest pharmaceutical market in South America and achieves global sales of U. S. $ 2. 5 million in this market. 2001Eastern Medikit Ltd took a significant step forward in Vietnam by initiating the Setting up of a new manufacturing facility with an investment of U.S. $ 10 million. Eastern Medikit Ltd achieved a turnover of U. S. $ 502 million for the year 2002 and moved closer to achieving a target of 1 billion dollar by 2004. 2002Receives approval from FDA to market Midazolam Hydrochloride Syrup 2 Mg base/ ml. Eastern Medikit Ltd receives and approval from FDA to manufacture and market Cefpodoxime Proxetil for Oral Suspension, Lisinopril + Hydrochlorothiazide Tablets Us, Terazosin Hydrochloride Capsules and Amoxcillin Oral suspension USP. Heralding the company’s entry into the Indian OTC market. 003Eastern Medikit Ltd received the economic times award for corporate excellence-for the company for year. Eastern Medikit Ltd signed an agreement toacquire RPG(aventis) SA along with its fully owned subsidiary,OPIH SARL,in france 2004 Eastern Medikit Ltd launched its first range of herbal projects. 2005 Acquisition of additional stake in Eastern Medikit Ltd Farmaceutica Ltda. , Brazil Eastern Medikit Ltd announced the acquisition of Be-Tabs Pharmaceuticals (Pty) Limited 2008Acquired by the Japanese giant, the $9. 62 billion Daiichi Sankyo, ranked No. in Ja pan BRIEF INTRO OF EASTERN MEDIKIT LTD PLANTS IN INDIA In the chemical division, various bulk drugs are manufactured. The chemical division had three units in Punjab. One is located at Toansa, two are located at Mohali and one unit is located at Dewas near Indore in Madhya Pradesh, where Ciprofloxacine is manufactured. In the plant of the chemical division, various drugs like Antibiotics, Anti-malarial, Antibacterial and Anti-ulcer are manufactured. One of the older plants of Eastern Medikit Ltd was closed after the accident in June 2003. he second one is still working The 1991, the Toansa plant started functioning in 1992 and the Dewas plant started functioning in 1999. Various plant heads independently manage all these plants. In each unit, separate facilities with respect to the manufacture of drugs, along with their manufacturing areas have been provided. This is required to reduce the chances of any cross contamination under the drug laws and to comply with good manufacturing p ractices. At Mohali plant, separate blocks have been provided for the preparation of each drug .The Toansa, Mohali and Dewas plants are planned in such a way that their system, facilities, manufacturing practices and standards meet the requirements of FDA. Mohali Plant also mainly in the manufacturing of Active Pharmaceutical Ingredients (API). The Plant is divided into two plant areas A8 and A9 THE VARIOUS DEPARTMENTS Human Resource Department The basic function of the human resource department in the modern corporate world is knowledge management. The HR department strives to maintain cohesiveness among employees. It also ensures interdepartmental cooperation in achieving targets.The appraisal system is also taken care by this department. The HR department delves deep into the employee’s psyche to analyze the positives and negatives of each employee, so that a proper system of delegation and / or empowerment can be evolved. Finance Department The finance department takes ca re of the regular financial needs of the company it ensures proper allocation of funds and takes care of the working capital requirements. It verifies capital raised by different departments and sends them for approval to the higher authorities. Stores DepartmentThe function of this department is to provide adequate and proper storage and preservation of various items to meet the demand of various other departments by proper issues and maintaining accounts of consumption. It also keeps a track of stock accumulation and abnormal consumption. Erection and Fabrication Department As the name suggests, this department identifies new projects and helps in erecting them. This department also undertakes major modifications of equipment. ERP Department ERP department helps to integrate the entire enterprise starting from the supplier to the customer, covering financial and human resources.This will enable the enterprise to increase productivity by reducing costs. It also ensures a single sol ution to the information needs of the whole organization. Production Department As a part of their on going commitment to produce hi-tech quality drugs and pharmaceuticals that take care of the specific needs of markets around the world, Eastern Medikit Ltd Laboratories Limited has increased the investment in the production department. It is the most important department of the company and has the following objectives: 1. Improving volume of production. 2.Reducing rejection rate. 3. Maintaining rework rate. Engineering Department This department undertakes building, construction and maintenance. Maintaining service facilities such as water, gas, heating, ventilation, air conditioning, painting and plumbing are some of the other areas dealt by this department. This department also helps in maintaining electrical equipments such as generators, transformers, telephone system and electrical installation. Purchase Department The purchase department provides material to the factory withou t which the wheels of machines cannot move.The various functions performed by this department include: Securing good vendor performance, including prompt deliveries of supplies of acceptable qualities. 1. To develop satisfactory sources of supply and maintaining good relationships with the suppliers. 2. To pay reasonably low prices. Quality Control/Quality Assurance Department The purpose of QC & QA departments is to ensure that the desired quality standard is achieved. It also ensures that the processing or fabrication of material conforms to the specific characteristics selected, to assure that the resulting product will in fact perform its intended function. PRODUCT REVIEWEastern Medikit Ltd’s therapeutic width covers five of the top six categories including Anti-infective, Gastrointestinal, Nutritionals, Cardiovascular, Central Nervous System, Respiratory, Dermatological and others. While anti-infective contribute 56% of the total sales, Eastern Medikit Ltd’s other brands like Simvotin and Storvas in the cardiovascular segment, Serlift in CNS and Revital and Riconia in Nutritionals, are on their way to success in multiple markets. During Jan – Dec 2000, amongst the top products of Eastern Medikit Ltd, Sporidex (Cephalexin) was the Number 1 brand, closely followed by Cifran (Ciprofloxacin).Anti – Infectives Anti- infective has been the main driver of Eastern Medikit Ltd’s sales. The important brands in this category are Cifran (Ciprofloxacin), Sporidex (Ciphalexin), Enhancin (Amoxyclav), Crixan (Clarithromycin), Vercef (Cefaclor), Oframax (Ceftriaxone), Cepodem (Cefpodoxime Proxetil), Zanocin (Ofloxacin), Ceroxim (Cefuroxime Axetil), and Loxof (Levofloxacin). Cifran (Ciprofloxacin) is the key brand in the anti- infective portfolio, with estimated sales of US $ 32 Mn, currently being marketed in 15 countries. Development of Ciprofloxacin once a day has been an important landmark achieved by Eastern Medikit Ltd.The product h as been licensed to Bayer. Cifran continues to be a dominant player in the quinolones market in India, China and Russia. Sporidex is another leading brand in Eastern Medikit Ltd’s product portfolio with worldwide annual sales of US $ 35 Mn. It is available in eight different dosage forms including capsules, dry powder for suspension, redimix, dispersible tablets, paediatric drops, soft gelatin capsules, sachet and advanced formulation for twice-daily administration. It is currently marketed in 15 countries. In India, Sporidex is the leading brand with a market share of 36% of the Cephalexin segment.Keflor is available in seven different dosage forms and is the third-largest selling brand for Eastern Medikit Ltd worldwide. The dosage forms list includes capsules, dry syrup, modified release tablets, dispersible tablets, drops and redimix. Enhancin is expected to be the leading product in Eastern Medikit Ltd’s product portfolio with estimated sales of US $ 45 Mn by the y ear 2005. The product will be rolled out to about 20 important markets during this period. Zanocin, with approximate sales of US $ 10 Mn, is the seventh-largest contributor to Eastern Medikit Ltd’s total sales.Cepodem is currently available in three different countries outside India, and will be rolled out to 13 different countries in the near future. Cardiovasculars Cardiovascular is projected to be the second-best category for Eastern Medikit Ltd. Statins have been the key drivers for this segment. The sale of Simvastatin has grown substantially in the past few years, a trend that is likely to continue in the future. In India, Simvotin (Simvastatin) is the market leader in the cholesterol reducer segment. Another leading brand in this category is Storvas (Atorvastatin).Storvas has been one of the fastest-ever to enter the top-300 brands list of the Indian pharma industry. Other global cardiovascular brands are Covance (Losartan) and Caslot (Carvedilol). Central Nervous Syst em The Central Nervous Segment is one of the important focus areas identified by Eastern Medikit Ltd, with Serlift being the key brand. In India, Serlift is number 1 amongst Sertraline brands. New product introductions will be drivers of growth in this category. Gastrointestinal Currently, gastrointestinal drugs are the second-largest category for Eastern Medikit Ltd.The key brands in this category include Histac and Romesac. The current annual sales of Ranitidine are estimated to be around US $ 16 Mn and the product is marketed in more than 20 countries. Rheumatologicals The first generation Cox-2 inhibitors principally drive worldwide growth in rheumatology. This category is estimated to grow exponentially for Eastern Medikit Ltd, with brands like Celecoxib. This year, Rofibax (Rofecoxib) introduced in India, has established itself as a leader in the Cox-2 inhibitor category and has overtaken all Celecoxib brands. It has been identified as a key Global brand for the future.Nutrito nals Nutritionals have been a major contributor to Eastern Medikit Ltd’s sales. Two of the important products in this category are Revital and Riconia. With annual sales estimated at about US $ 10 Mn, Revital contributes a significant share of total sales. It is a leading brand in India and has done exceedingly well in some parts of the world as an OTC product. Dermatologicals The dermatology category is mainly driven by India region and is likely to show a good growth pattern in the future. Some of the key brands doing well in this segment are Mobizox, Silverex, Moisturex, etc.INTRODUCTION TO CAPITAL STRUCTURE THEORY AND ANALYSIS This is a Report on the ‘Capital Structure and Capital Expenditure of Eastern Medikit Ltd Laboratories Ltd. ’. The purpose and scope of the project can be listed as: * Understanding the organizational structure and functioning of Eastern Medikit Ltd Laboratories Ltd. * Analysing and comparing the financial health of the firms in the Ind ian Pharma Industry. * Identifying and analysing the capital structure of Eastern Medikit Ltd. * Conducting a Review of the Capital Expenditure done at Eastern Medikit Ltd Laboratories Ltd. Identifying loopholes in the functioning and in the area of study and recommending the suggestions for the same. Following are the limitations of the study: * Balance sheets of only 3 years have been studied but the company is in operation for so many years. * Only specific tools (i. e. ratio analysis) have been used for data analysis, while so many other tools are also there. * Organizational rules & regulations. * Availability of data. Financial figures for 2008 of Eastern Medikit Ltd were not available. * Limitations of the financial tools used. MethodologyThe methodology adopted for the study was as follows: * Familiarization, examination and evaluation of the procedures relating to capital structure and capital expenditure. * Collection of relevant data form company records and cross checkin g of this data. * Calculations of financial ratios, parameter and norms, as also their financial implications. Broadly the data were collected for the report on the project work has been through the primary and secondary sources. The primary data is collected by various approaches so as to give a precise, accurate, realistic and relevant data.The main goal in the mind while gathering primary data was investigation and observation. The ends were thus achieved by a direct approach and personal observation from the officials of the company. The other staff members and the employees were interviewed for the sake of maintaining reasonable standard of accuracy. The secondary data as it has always been important for the completion of any report provides a reliable, suitable equate and specific knowledge. The annual reports, the fixed asset register and the Capex register provided the knowledge and information regarding the relevant subjects.The valuable cooperation and continued support ex tended by all associated personnels, head of the department, division and staff members contributed a lot to fulfil the requirement in the collection of data in order to present a complete report on the project work. Capital Structure: Theory and Analysis Capital Structure Financing decisions involve raising funds for the firm. It is concerned with formulation and designing of capital structure or leverage. The most crucial decision of any company is involved in the formulation of its appropriate capital structure.The best design or structure of the capital of a company helps the management to achieve its ultimate objectives of minimising overall cost of capital, maximising profitability and also maximising the value of the firm. The capital structure decision of a firm is concerned with the determination of debt equity composition. Capital structure ordinarily implies the proportion of debt and equity in the total capital of a company. The term capital may be defined as the long â €“ term funds of the firm. Capital is the aggregation of the items appearing on the left hand side of the balance sheet minus current liabilities.In other words capital may be expressed as follows: Capital = Total Assets – Current Liabilities. Further, capital of a company may broadly be categorised into equity and debt. The total capital structure of a firm is represented in the following figure: Established companies generally have track record of their profit earning capacity, which helps them to create their creditworthiness. The lenders feel safe to invest their funds in such companies. Thus, there is ample scope for this type of companies to collect debt. But a company cannot freely i. e. without having any limit.The company must have to chalk out a plan to collect a debt in such a way that the acceptance of debt becomes beneficial for the company in terms of increase in EPS, profitability and value of the firm. If the cost of capital is greater than the return, it will have an adverse effect on company’s profitability, value of the firm and its EPS. Similarly, if company is unable to repay the debt within the scheduled period it will affect the goodwill of the company in the credit market and consequently may create problems in future for collecting further debt.Other factors remaining constant, the company should select its appropriate capital structure with due consideration. Capital structure involves a choice between risk and expected return. The optimal capital structure strikes the balance between these risks and returns and thus examines the price of the stock. Significant variations with regard to capital structure can easily be noticed among industries and firms within the same industry. So it is difficult to generate the model capital structure for all business undertakings.The following is an attempt to consolidate the literature on various methods to suggested by researchers in arriving at optimal capital structure. Notatio ns used: * V = value of firm * FCF = free cash flow * WACC = weighted average cost of capital * rs and rd are costs of stock and debt * re and wd are percentages of the firm that are financed with stock and debt. Operating and Financial Leverages The term leverage refers to the ability of a firm in employing long – term funds having a fixed cost, to enhance returns to the owners. In other words everage is the employment of fixed assets or funds for which a firm has to meet fixed costs or fixed rate of interest obligation irrespective of the level of activities attained or the level of operating profit earned. Higher the leverage, higher the profits and vice – versa. But a higher leverage obviously implies higher outside borrowings and hence riskier if the business activity of the firm suddenly takes a dip. But a low leverage does not necessarily indicate prudent financial management, as the firm might be incurring an opportunity cost for not having borrowed funds at a fixed cost to earn higher profits.Operating Leverage Operating leverage is concerned with the operation of any firm. The cost structure of any firm gives rise to operating leverage because of the existence of fixed nature of costs. This leverage relates to the sales and profit variations. Operating Leverage =| Contribution| | EBIT| Contribution = Sales – Variable Costs EBIT = Earnings Before Interest and Taxes. Disadvantages of Operating Leverages * The reliability of operating ratios rests to a large extent on the correctness of the fixed costs identified with a product. Faulty apportionment would distort the usefulness of the ratio. The published accounts does not give details of the fixed cost incurred and the contribution from each product and for an outsider it is difficult to calculate the firm’s operating leverage. Firm’s cost structure and nature of the firm’s business affects operating leverage. A degree change in sales volume results in more tha n proportionate change (+/-) in operating (or loss) can be observed by use of operating leverage. Financial Leverage This ratio indicates the effects on earnings by rise of fixed cost funds. It refers to use the use of debt in the capital structure.Financial leverage arises when a firm deploys debt funds with fixed charge. The ratio is calculated with the following: * Earnings before interest and tax / Earnings after interest – The higher the ratio, the lower the cushion for paying interest on borrowings. A low ratio indicates a low interest outflow and consequently lower borrowings. A high ratio is risky and constitutes a strain on profits. This ratio is considered along with the operating ratio, gives a fairly and accurate idea about the firm’s earnings, its fixed costs and the interest expenses on long term borrowings. Earnings per Share – Higher financial leverage leads to higher EBIT resulting in higher EPS, if other things remain constant. Financial levera ge affects the variability and expected level of EPS. The more debt the firm employs the higher its financial leverage. Financial leverage generally raises expected EPS, but it also increases the riskiness of securities as the debt / asset ratio rises. Financial Leverage =| EBIT| | EBT| EBIT – Ea