Pfizer and the Challenges of the Global Pharmaceutical Industry

Pfizer and the Challenges of the Global Pharmaceutical Industry Identification The case of Pfizer is one of the most interesting studies in the pharmaceutical business. One major reason is that it almost fell into near-death situation, a paradox considering that its mission is treatment of diseases. What happened to this once the biggest global pharmaceutical firm? Who or what was responsible for this fall?Advertising We will write a custom case study sample on Pfizer and the Challenges of the Global Pharmaceutical Industry specifically for you for only $16.05 $11/page Learn More Pfizer has been a leading drug company, involved in manufacturing of new medicines to treat popular human diseases, like cardiovascular and metabolism diseases. Half of its total revenues were attributed to prescription drugs. Pfizer’s mission and goals were to provide cutting edge research and development in the different operating segments, from product development to the patient’s therapeutic stage, which encompass the productâ €™s life cycle. Pfizer also became actively involved in biotechnology with the acquisition of some biotechnology firms. It has been said that the life-blood of a pharmaceutical firm is in research and development (RD). Although this has to be corrected, since RD is sometimes the â€Å"killer† of a pharmaceutical firm, Pfizer became a leader in the industry because of its RD centers in many parts of the world. These centers created blockbuster drugs and produced profits, but just as many also caused losses for the firm. The fact is Pfizer had many problems – the usual and unusual problems which pharmaceuticals face in the course of inventing new medicines for new diseases, recovering the costs for inventing and pre-testing those medicines, maintaining the hold as the leader of top pharmaceutical firms, among others. Pfizer lost profits by inventing one drug after another; the main causes were the usual ones – side effects, human safety concerns, etc. The caus es were internal and external ones – a scenario all managers abhor and would love to close shop. Analysis and evaluation From its financial report for the year then ended 2012 (2012 Financial Report, 2012), Pfizer had total revenues of $58.986 billion. The medicines that were originally manufactured in Pfizer’s manufacturing plants, ranging from the Lyrica and Viagra to the Primarin family, produced those revenues.Advertising Looking for case study on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Some of the products lost their momentum along the way, creating a negative impact costing millions of dollars in research and development and in the pre-clinical testing and actual testing processes. A recapitulation of the expenses and income generated from the invented/manufactured medicines is shown in Appendix 1. The calculations in this attachment were rounded off to provide simplicity in the figures. The overall performance showed that revenues went down in 2012. Appendix 1 shows that Pfizer had an operating profit margin of $0.67 billion, which is short of saying that this is what (or how) the company got from its invested money without charges. The amount is rather low if we have to consider the resources that the company had spent and exerted. The explanation in the financial report stated that the losses were due to the negative impact made by its major product, the Lipitor, amounting to $7.7 billion, equal to 12% of the total revenues for the year (2012 Financial Report, 2012, p. 15). The financial report made mention of the negative impact of the manufactured drugs, and the decrease of sales of the drugs (2012 Financial Report, 2012, p. 2). Kindler announced the dismissal of 10,000 employees, mostly from European branches and RD centers. Those who were retained came from the US branches. This is because the United States and North America have largely contributed to the a nnual revenues. US Per capita spending on pharmaceutical products is 728, which is larger than the European countries even those from France and Germany. SWOT Analysis Strength Pfizer’s assets have been earned and built through the years: it has adequate financial resources to counter the tides of weak sales or any downturn. Its strength lies in its standing in the industry – it is a recognized leader. Its commitment to RD is also well recognized as it spends millions to invent and manufacture medicines for emerging diseases. The period of Kindler’s entry in the company was described as slow growth – the company was in the verge of a sharp decline from all its sales of the various manufactured drugs, to include the Lipitor. But Kindler’s entry was seen as strength because of the changes he introduced which produced positive results.Advertising We will write a custom case study sample on Pfizer and the Challenges of the Global Pharmaceutical Industry specifically for you for only $16.05 $11/page Learn More Weakness The drug Lipitor was a problem; a paradox because they used to call it a blockbuster. At first, Lipitor contributed to the firm’s sales, reaching up to US$13 billion, equal to 40% of Pfizer’s total profit. The firm developed another medicine called â€Å"Torcetrapib†, believed to be the successor of Lipitor, but the drug also created a problem in the human safety aspect. Opportunity From the case analysis and perusal of the 2012 Financial Statement, we can conclude that Pfizer is capitalizing on the manufactured drugs for the various diseases. These drugs are the lifeblood of the company. While some drugs made some setbacks, most of them are selling good and have provided profits. The expired patents still earned profits for Pfizer considering that it has rights to the sale of generic drugs. Threats As it has always been said, there’s strong competition in the ph armaceutical industry. Firms compete to introduce new drugs and manufacture patented drugs and generic drugs. Pfizer is strongly competing with GSK, Sanofi-aventis, Novartis, JJ, which are giants in their own right. Before a drug is introduced in the market, firms already compete to manufacture and own the patent for the still undeveloped drug. Discussion of alternatives The inside and outside factors provided a negative environment for Pfizer. There were many changes that Pfizer had to deal with; one concerned price setting. For example in 2005, the German government reduced the prices for all types of drugs. This paved the way to reimbursing the medical expenses of those who took Lipitor. The drug’s price also had to be reduced. The price reduction and the reimbursement produced a negative impact on Pfizer. Price continued to pressure in other parts of Europe, particularly in the United Kingdom whose government issued the Pharmaceutical Price Regulation Scheme (PPRC) which set profit ceilings on all kinds of drugs. It created a unified reaction from the different pharmaceutical firms, while others considered it ‘extortion’. Pfizer was very much affected by the price scheme. The invention of drugs, to include research and development, pre-clinical testing and testing, and manufacturing, takes about ten to fifteen years. When it is introduced in the market as a safe drug, a considerable amount of time, money, and resources of the company have already been spent. When the drug has to be withdrawn from the market because of safety issues, the investing firm will already have lost millions of dollars. But this is not to say that it losses every time it manufactures medicines. Return of investment also provides millions, if not billions, of dollars.Advertising Looking for case study on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Pfizer introduced innovations to counter the negative image and also to minimize unnecessary costs and increase profits. The alternatives were said to be revolutionary because they were introduced by a new brand of management, that of Kindler. But the innovations proved to be effective, even if it cost firing thousands of jobs. Regarding its products, it appears that Pfizer will continue to earn profits from the manufacture of medicines. This is its prime source of revenues and will continue to be so in the future. Recommendations/Implementability Pfizer had to continue this strategy of convincing doctors to prescribe branded medicines to their patients because this is where most of their profits for drugs come. Moreover, Pfizer has been promoting their drugs through advertisements and the Internet. This year, Pfizer promoted vaccination in Ireland. Although it was a marketing strategy, it was also part of the firm’s corporate social responsibility. Health care for children i s one of Pfizer’s primary goals. Kindler’s goals have become Pfizer’s mission – health care for the different segments the firm has targeted. Research and development has been very much improved ever since the company has streamlined, modified the corporate structure and introduced changes and innovations, particularly in the RD centers all throughout the world. By continuing the changes in the area of RD and the focus on the five segments, Pfizer will continue to recover the losses and regain the leadership in the pharmaceutical industry. Competition continues in this industry, but focusing on servicing and providing health through the introduction of new medicines, this firm will continue to recover and maintain the lead. Pfizer’s drugs have helped the ageing population and the fight against cancer and AIDS which formerly had no cure. However, by continuing on their cutting-edge method in RD and the operating costs in the millions and dollars, it may affect the firm’s goal of increasing profits. The goal of service to humanity has to continue but it may affect profits. Kindler’s aim was to minimize losses in the RD areas by conducting collaborative efforts with other companies. In short, Pfizer had to focus on transparency by opening to the public and acquiring more acquisitions. Kindler motivated the new sales force to boost sales. But all these efforts tended not to help Pfizer. When Kindler announced the dismissal of thousands of employees, the stock market negatively responded with a sharp fall. References 2012 Financial report. (2012). Retrieved from https://www.pfizer.com/sites/default/files/annualreport/2012/financial/financial2012.pdf Appendix 1 Goods sold = $12 billion (Lyrica, Celebrex, Viagra, and others) 6 billion (Norvasac and the Primarin family) Total Sales = $18 billion (for the various medicines manufactured) Cost of goods sold (expenses) = $11.3 billion Gross profit margin = Sales – Co st of goods sold Sales = $18 billion – $11.3 billion $18 billion = $0.372 billion (margin provided to cover operating expenses) Operating profit margin = 12.08 billion 18billion = 0.67 billion Net profit margin = Profits after taxes Sales = 12.08 – 7.64 18 Net profit margin = $0.25 billion Taxes Taxes on income = $2.56 billion Discontinued ops. = 5.08 billion Total taxes = $7.64 billion Return on total assets = Profits after taxes total assets = 4.4 billion 58.986 billion = $0.074 billion

A Comparison of Mac OSX Tiger and Microsoft Windows Vista Essay Example for Free

A Comparison of Mac OSX Tiger and Microsoft Windows Vista Essay ? Microsoft’s Windows and Apple’s Mac OSX are one of the most prominent Operating Systems in the world. Both have millions of Active users and are considered as major rivals. Both Operating systems have their specific advantages as well as some disadvantages. Both operating systems have evolved throughout the time in a specific manner and has managed to create their own identity. This paper will compare the latest releases of both software giants i.e. â€Å"Microsoft Windows Vista† and â€Å"Mac OSX Tiger†. A Comparison of Microsoft Windows Vista and Mac OSX Tiger: Mac OSX Tiger 10.4x is the latest release of the OSX series of operating systems released by Apple Corps. This version was released in spring 2005. Like its predecessors Tiger’s foundation is laid on the Unix Kernel â€Å"Darwin†. The Unix foundation has made Tiger more secure and reliable than its non Unix rivals like Microsoft’s Windows. There are no known Viruses, Worms or Spywares which can force Tiger to compromise . Vista’s predecessor Windows XP has been under attack by the hackers and viruses since its release for the first time which compelled Microsoft to fix the loopholes in the form of service packs. That why its successor Vista has been developed with security in mind. Though Vista seems to be more secure than XP or other earlier Windows releases but it has not achieved 100% immunity against viruses and worms. Apple has maintained a policy of releasing new versions roughly after every 18 months. Due to this approach the changes and innovations made in the new versions were not that prominent to confuse the users. On the contrary Microsoft has not released any new version after the release of Windows XP in 2001. Thus the change in Vista is more dramatic than change in Tiger. Speaking about the GUI and its features Tiger and Vista share many similarities. Because Tiger is a couple of years older than Vista seems to draw many features and ideas from Tiger. Some notable similarities are in icons. Vista has also change the names of â€Å"My Documents† and â€Å"My Computer† folder to â€Å"Documents† and â€Å"Computer† same as in Tiger. The term Vista Aero Interface is very similar to Tigers Aqua interface in terminology. The buttons and other interface details have the same shiny round look as in Tiger. Tiger’s most amazing feature is its spotlight search technology which is borrowed by Vista in such a way that even the search button is identical to it, only the magnifying glass turns on the opposite side. But along these similarities Vista is more advanced and sophisticated than Tiger in a number of ways. Vista provides a more sophisticated file previewing technology not found in Tiger. It can even preview text files. Moreover Vista’s folder give the preview of the files located inside them a feature not found in Tiger. Moreover Vista can scale icons and previews up to 128 by 128 pixels. Regarding file management and searching Vista and Tiger share many similarities. Vista’s new file searching technologies are very similar to Tiger’s spotlight technology, but Vista goes further ahead and provides the facility of adding meta data in Internet Explorer directly. Vista provides multiple fields for searching and adding meta data a feature not available in Tiger. Vista has also borrowed the idea of Tiger’s smart folders renaming them as virtual folders. But Vista has also developed some advanced file management features not found in Tiger. Vista provides a new backup system which record changes in the backed up files time to time and save them in a protected folder. Vista has also developed a feature available in Mac OSX since its earlier times. OSX has the ability to create any document in PDF. Vista on the other hand has given support to change any document in Metro an universal XML document format. Regarding networking Vista is far more superior than Tiger. This is basically because Vista is more compatible to Microsoft servers than Tiger. Vista has also provided the facility to connect to a project on the network and send presentations to it. Vista is also introducing Ipv6 protocol, a feature which is available in OSX since Panther. Vista also has a better support for RSS feeds, Weblogs etc. Media Center is a feature which can certainly be called the pride of Microsoft in the world of Desktops and operating systems. Because neither Tiger nor any other competitor such accomplished media center facitlities as provided by Microsoft. The feature first introduced in Windows XP Media Center edition has shown further enhancements and innovations in this regard. Though Vista is a major innovative change for Windows users many new features introduced in Vista are not that new in the world of desktops. Tiger and some other operating systems have introduced them a couple of years ago. But Vista has gone further beyond. There are many features and advances in Vista which are not found in any operating system currently. Security is the key problem thats why Vista provides more sophisticated security features than Tiger. Vista also has the advantage of the largest number of software support which Tiger doesn’t. But Tiger has support of open source softwares thanks to its Unix foundation. One can conclude that each operating system is superior to its rival in some characteristics and lacks some features found in the other. References James Fallows (2006), Microsoft Reboots: A Preview of the New Versions of Windows and Office, The Atlantic Monthly. Volume: 298. Issue: 5 The Atlantic Monthly Magazine J.V. Bolkan (2005), Facing the Future: Computer Hardware Is Getting a New Set of Standards. Find out How They Will Affect Your Future Purchases, Learning & Leading with Technology. Volume: 33. Issue: 3, International Society for Technology in Education. Royal Van Horn (2006), The Perfect Computer and Web Browser Updates, Phi Delta Kappan. Volume: 88. Issue: 1. Publication Year: 2006. Page Number: 7, Phi Delta Kappa, Inc A Comparison of Mac OSX Tiger and Microsoft Windows Vista. (2017, Mar 13).

Social Entrepreneurship Essay Example | Topics and Well Written Essays - 1500 words

Social Entrepreneurship - Essay Example For example in monotheistic business environment, a business is more likely to be favored in terms of business performance since it can manipulate market forces to its advantage. Share our Strength's faces great competition from competitors and has only succeeded in that, it has continually applied strategic measures in all its important decisions. Share our Strength's performance has been termed as sterling by many business analysts. The chain of businesses has recorded an after taxes profit of above $1 million. By applying concepts like vendor managed inventories as well as just-in-time concept, Share our Strength's has continued to maintain leadership in the wines and foods market in the US Share our Strength's, endeavors to remain a low-cost retailer, and by that it has been very effective in maintaining market attractiveness. By all means, Share our Strength's has achieved low cost retail prices something which has contributed to client faithfulness. This is core in terms of ensuring that, by utilizing this strategy, Share our Strength's is able to save extra costs associated with poor planning. By keeping products and services as low as practically possible, Share our Strength's can afford to lower prices since there are less expenditures. In long term this contributes to industry attractiveness. The other area in which the company has achieved competitive advantage is in terms of adapting information systems. By choosing to be a low cost producer the organization has set out to be a market leader. In terms of incorporating information technology, Share our Strength's has computerized its purchasing systems to incorporate E-purchasing. As purchasing strategy e-purchasing is economical, reliable and cost effective. Compared to a competitor who does not recognize the e-business concept, Share our Strength's has been able to save a lot by embracing e-business as a marketing strategy as well as incorporating ebusiness in its internal and external processes. In the case of Share our strength, competitive advantage is also dependent on how company utilizes and takes advantage of buyer power at its disposal, the threat of substitutes, supplier power, ease of entry as well as the intensity of intra-industry activity and convert all of those factors to its advantage. By integrating IT through out the whole retail chain Share our Strength's ensures that, its partners are free and feel respected and therefore trade is done in an environment of cordial relationships. Share our Strength's principal functions and activities include; purchasing, distribution

Coca cola Essay Example | Topics and Well Written Essays - 1500 words

Coca cola - Essay Example alone recorded more than US$15 billion in 2006 (Kent, para 2-3). In the same year, market consumption volumes for the same product were more than thirty billion liters. This is usually not the same story with many multinationals. Company Overview Coca-Cola Company headquartered in Atlanta Georgia and specializes in soft beverage drinks. The company has operations in more than 200 countries. The plant in Atlanta produces the concentrate and sells it to certified Coca-Cola bottlers worldwide. Bottlers hold agreements with the Coca Cola Corporation, which permit them to produce the finished products. After which bottlers distribute and sell Coca-Cola products to retail stores and vending machines, who in turn sell the products to consumers. Advantages of Coca Cola Differentiated marketing method The most noticeable positional strategy of the Coca Cola Company is differentiated marketing method. This method has enabled the organization to satisfy the needs of a wide range of markets. For instance, it has bottled water products for any of its target segments. It also has Diet Coke which is specifically targeted for the aged or elderly people and those people who are drifting towards a healthier feeding lifestyle. Product levels One of the main advantages of Coca Cola Company over its rivals is that it offers products on three distinctive levels: the core product, the actual product, and the augmented product. In general, features and even materials used make the actual products which in the end avails the core product (Petretti 2-17). Consumers are attracted by Coca Cola products because of their high quality coupled with unsurpassed company standards. As consumers take the products they also end up getting the augmented product which is the extra or additional benefits the consumer derive from the product or the company. However, given that soft beverages are consumables, there is a tendency to pose limits on the augmented level. To counter this, Coca Cola Company not only provides its products in various quantities, it also provides its products in different tastes and coloration to enable the consumer to switch products without crossing over to competitor products. A good example is Diet Coke which is offered in various quantities like the Lagasse Diet Coke, Caffeine-Free Diet Coke, and Chaser Diet Coke basing on the consumer preferences. Global brand Unlike many of its competitors, Coca Cola Company is the leading manufacturer, marketer and even distributor of nonalcoholic drinks worldwide. Presently, the organization has operations in more than 200 countries. The company is a marketplace innovation driver and a solidified investor in local economies. At present, Coca Cola Company commands the beverage industry globally with over 500 beverage brands including about four brands out of the top-five sparkling brands on the planet (Kent, para. 4-6). Coca-Cola Company market share versus other soft drink companies worldwide in 2011, based on sa les value Source: Globalization and Health, Statistica. Disadvantages of Coca Cola Positioned as a monopoly The company has established itself as a monopoly in many countries. As a monopoly, there are many things that are attributed to the company are not encouraging. For instance, the company is likely to produce products that are substance. A case in point, in 2006, in Canada and India, the company was accused on producing

Capital Punishment Term Paper Example | Topics and Well Written Essays - 3500 words

Capital Punishment - Term Paper Example From the research it can be comprehended that the doctrine of birth and death are the most obvious and the unpredictable events in the Nature. Since time immemorial such has been the nature of occurrence. With the spread of civilizations, the greed and lust of mankind reached an epitome and uncontrolled desire of achievement lead to loss of human values. The seriousness of the degradation leads to crimes, wars, battles and loss of innumerable human life. The concept of punishment came into existence among humans and even life of people was not spared in providing penalty for their ill deeds. The age –old theory of capital punishment was immensely popular among the Phoenicians, Persian, Egyptians, Romans, Greeks, Chinese civilization, where the brutal act of convict prosecution was done by taking away their life. The process of killing was carried out in horrendous fashion, which turned the punishment to be more excruciating. Modes of capital punishment were innovated with diff erent procedures and the shameful act was carried out unremittingly. Ironically the modern era also did portray their interest and used modern technologies to kill the convicts in atrocious manner. Significantly the act of capital punishment was even carried among the juveniles till the last decade, and surprisingly the proclaimed super power developed nations of the world were a part of this severe in-humanitarian policy. Thesis Statement Capital punishment should be abolished from the world and in particular the act of juvenile capital punishment needs to be barred, as this extreme measure does not preclude the miscreants from committing further crimes. Capital punishment: A brief history The history of Capital punishment or death penalty is quite enriched with events and the start of the timeline of capital punishment begins in eighteenth century in Babylon under the regime of King Hammaurabi. The law related to death penalty covered 25 different crimes. Crucifixion, drowning, im palement, beating to death were some of the measures of providing capital punishment. In the sixteenth century, burning, beheading, drawing and quartering carried out executions. 222 crimes were listed under the execution of capital punishment in Britain, which even included mere acts of cutting down a tree. Lingering death was provided to the serious convicts on account of heinous crime where as lesser degree of criminal acts by the convicts resulted in quick and painless death (Introduction to the death penalty, n.d). In China during the medieval period many cases of death through thousand cuts and slow slicing were noted. The colonist in America induced the capital punishment in the state and 12 capital crimes were identified. The range of capital punishment varied across different part of the states. Some of the states provided limited control. The Northern colony limited its use. Idolatry, blasphemy, traitors were dealt under the jurisdiction of capital punishment. In spite of the less enthusiasm followed in some parts of America regarding capital punishment, but the massive colonization in America made capital punishment popular all over the country. The major reason cited for the implementation of capital punishment was to control the rate of occurrence of crime. However in the end of eighteenth century, only incidents of first-degree murders were punished till death. In the southern states the punishment was imposed to control on the actions of slaves. Evidence of racial discrimination prevailed in the process of atonement as the white people committing same sort of acts was relieved by mere compensation whereas the law of capital punishment was enforced on the other civilians of the society. The age-old tradition of capital punishment continued to leave its impact in the present modern era. Boundary of capital punishment though reduced and imposed on serious crimes, new methods were invented to carry on with the execution. Guillotine, Gas chambers, el ectric chairs, lethal injections became popular as modes of homicides. The incidents of capital punish

Types of Cyber Crime and Strategies for Prevention

Types of Cyber Crime and Strategies for Prevention Crimes In cyber Age And Its Response By Indian Judiciary Table of abbrevaitions AIR All India Reporter AP Andhra Pradesh Art. Article Bom. Bombay ed. Edition Ltd. Limited. P. page number Pat. Patna SCC Supreme Court Cases SCR Supreme Court Reporter Sec. Section Crimes In cyber Age And Its Response By Indian Judiciary Introduction The advent of the third millennium has brought in an era of information society. The new era is the result of rapid changes brought about by the new technology and the cyber world. Obviously the information society offers vast scope and opportunities to human beings to identify information, to evaluate information, and to exchange information for the benefits of the citizens the world over. The in formation technology provides for a new environment, new work culture, new business links and trading networks. It allows information and knowledge based work to be located anywhere. It is virtually transforming and revolutionizing the world. The information technology is a double-edged sword, consistently presenting us with benefits and disadvantages. The increasing opportunities for productivities, efficiency and worldwide communications brought additional users in droves[1]. Today, the internet is a utility, analogous to the electric company and ‘.com has become a household expression. The reliability and availability of the internet are critical operational considerations. Activities that threaten these attributes like spamming, spoofing, etc, have grave impacts on its user community. Any illegal act, for which knowledge of computer technology is essential for its perpetration, investigation, or prosecution, is known as cyber crime. Among the various problems emerging out of the internet are the menace of hackers, cyber terrorism, spamming, Trojan horse attacks, denial of service attacks, pornography, cyber stalking etc. Through this paper the researcher will try to study the problem of cyber stalking, cyber defamation, various types of data theft and the laws relating to it. An effort will also be made to recommend some suggestions to fight these dangerous problems, with the response of Indian judiciary to it. Cyber staking Cyber stalking, has been defined as the use of electronic communication including, pagers, cell phones, emails and the internet, to bully, threaten, harass, and intimidate a victim. Moreover, it can also be defined as nothing less than emotional terrorism.[2] Cyber stalking can take many forms. However, Ellison (1999) suggests, cyber stalking can be classified by the type of electronic communication used to stalk the victim and the extent to which the communication is private or public. Ellison (1999) has classified cyber stalking as either ‘direct or ‘indirect. For example, ‘direct cyber stalking includes the use of pagers, cell phones and the email to send messages of hate, obscenities and threats, to intimidate a victim. Direct cyber stalking has been reported to be the most common form of cyber stalking with a close resemblance to offline stalking (Wallace, 2000). Why people do it? Generally, to be defined as stalking the behaviour must be unwanted and intrusive. Another important point is that the stalker must also have an intense preoccupation with the victim. The range of behaviour involved in stalking can be broadly grouped in three categories. Firstly, there is following, which includes frequenting workplaces and homes, maintaining surveillance, and engineering â€Å"coincidences.† Secondly, there is communicating—by phone, letters, cards, graffiti, gifts, and, Increasingly, electronic mail and the internet (â€Å"cyber stalking†).Often the stalker will order goods and services on the victims behalf. Finally comes aggression or violence, in which stalkers threaten their victims, harass their families, damage their property, make false accusations about them, and cause sexual or physical injury. Sexual attractions and motives are other very important reasons for cyberstalking. In USA, the federal law enforcement agencies have encountered numerous instances in which adult paedophiles have made contact with minors through online chat rooms, established a relationship with the child, and later made contact for the purpose of engaging in criminal sexual activities.[3] Nature of cyber staking The nature of cyber stalking is ascertains by the medium which is used for its execution. According to †¦ cyber stalking had been classified into four kinds[4] a) E-mail stalking b) Chat stalking c) Bulletin board systems d) Computer stalking. Email stalking Electronic mail is an electronic postal service that allows individuals to send and receives information in matter of seconds. This sophisticated use of telephone lines allows communication between two people who may or may not know each other but can ‘speak to each other using a computer. In general Email is an insecure method of transmitting information or messages. Everyone who receives an email from a person has access to that persons email id. With some online services as AOL, a persons screen name is also an email address. In addition, when a person posts an item on a newsgroup, that pesons email id may be available to anyone who reads that item. It is unsurprising, then, that email is a favoured medium for cyber stalkers. Technologically sophisticated email harassers send ‘mail bombs, filling a persons inbox with hundreds or even thousands of unwanted mails in the hope of making the account useless. Others send electronic viruses that can infect the victims files.[5] Chat stalking A chat room is a connection provided by online services and available on the internet that allows people to communicate in real time via computer text and modem. Cyber stalkers can use chat rooms to slander and endanger their victims. In such cases the Cyber stalking takes on a public rather than a private dimension. As live chat has become more popular amongst users of the internet with tools such as internet relay chat (IRC), it has also become more popular as a medium through which stalkers can identify and pursue their prey. When a person enters a chat room, his screen name joins the list of names of others in the group. Depending on the nature of the chat software, that person can address others in the room and vise versa as a part of the group discussing from a smaller group in a private chat room or send private, one to one instant messages to others anytime.[6] During ‘chat, participants type instant messages directly to the computer screens of other participants. When a person posts a message to a public news group this is available for anyone to view copy and store. In addition, a persons name, email address and information about the service provider are easily available for inspection as a part of the message itself. Thus, on the internet, public messages can be accessed by anyone anytime- even years after the message were originally written. In IRC, the harasser may chose to interrupt a persons chat electronically or otherwise target a chat system, making it impossible for someone to carry on a conversation with anyone else. The Cyberstalker can engage in live chat harassment or abuse of the victim( otherwise known as ‘flaming) or he/she may leave improper message o the message board or in chat rooms for or about the victim. Bulletin board systems A bulletin board system (BBS) is a local computer that can be called directly with a modem[7]. Usually they are privately operated and offer various services depending on the owner and the users. A bulletin board allows leaving messages in group forums to be read at a later time. Often a BBS is not connected to a network of other computers, but increasingly BBSs are offering internet access and co Cyber stalkers area using bulletin boards to harass their victims.[8] Online have been known to known to post insulting messages on electronic bulletin boards signed with email addresses of the person being harassed. The Cyber stalker can also post statements about the victims or start rumours which spread through the BBS. In addition a Cyber stalker can ‘dupe another internet users into harassing or threatening a victim by posting a controversial or enticing message on the board under the name , phone numbers or email address of the victim, resulting in subsequent responses being sent to the victim.[9] Computer stalking With computer stalking, cyber stalker exploits the internet and the windows operating system in order to assume control over the computer of the targeted victim. An individual ‘windows based computer connected to the internet can be identified, allowing the online stalker to exercise control over the computer of the victim. A cyber stalker can communicate directly with his or her target as soon as the target computer connects to the internet. The stalker can also assume control over the victims computer and the only defensive option for the victim is to disconnect and relinquish his or her current internet address.[10] An example of this kind of cyber stalking was the case of a woman who received a message stating ‘ Im going to get you. The cyber stalker then opened the womans CD-ROM drive in order to prove that he had control over her computer. cyberstalking trends and statistics offenders Previous studies that have investigated stalking offenders by and large, have focused on the offline stalking offender Regardless for the offenders group such as ‘simple, ‘love or ‘erotomanic statistics reports, male offenders to account for the majority of offline stalking offenders. Working to Halt Online Abuse (2000) statistics also support the gender ratio of offenders claiming, 68% of online harassers/cyber stalkers are male. Furthermore, common social and psychological factors have been found within offline stalking offender population. For example, social factors such as the diversity in socio-economic backgrounds and either underemployment or unemployment have been found significant factors in offline stalking offenders[11]. In a research done on young stalkers between 9 and 18 years of age little difference was found between young and adult offline stalking offenders. For example, the majority of offenders were male, had some form of previous relationship with the victim and experienced social isolation.[12] Victims Currently, there are limited studies on the victims of cyber stalking. Although, anyone has the potential to become a victim of offline stalking or cyber stalking, several factors can increase the statistical likelihood of becoming a victim. Studies[13] that have investigated offenders of offline stalking, have found some common factors within the selection of victims. For example, contrary to public belief, a large proportion of stalking victims are regular people rather than the rich and famous. Goode claimed[14], up to 80% of offline stalking victims are from average socio-economic backgrounds. In addition, the statistical likelihood of becoming a victim increases with gender. Working to Halt Online Abuse (2000) reports, 87% of online harassment/cyber stalking victims are female. However, victim gender statistics may not represent true victims, as females are more likely to report being a victim of online harassment/cyber stalking than males. Although studies have shown that the majority of victims are female of average socio-economic status, studies have also shown that offline stalking is primarily a crime against young people, with most victims between the age of 18 and 29.[15] Stalking as a crime against young people may account for the high prevalence of cyber stalking victims within universities. For example, the University of Cincinnati study showed, 25% of college women had been cyber stalked.[16]. Nevertheless, previous relationships have been shown to increase the likelihood of being stalked offline. For example, it was reported, 65% offline victims had a previous relationship with the stalker[17]. Although studies of offline stalking claim the majority of victims have had a previous relationship with the stalker Working to Halt Online Abuse Statistics[18] fails to support a previous relationship as a significant risk factor, for online harassment/cyber stalking. For example, 53% of victims had no prior relationship with the offender. Therefore, the risk factor of a prior relationship with the stalker may not be as an important factor in cyber stalking, as it is in offline stalking. Psychological effects of cyberstalking Currently, there are few studies on the psychological impact on victims. However, Westrup[19]studied the psychological effects of 232 female offline stalking victims. He found out that the majority of victims had symptoms of PTSD, depression, anxiety and experienced panic attacks. Additionally, it was found that 20% of victims increased alcohol consumption and 74% of victims suffered sleep disturbances[20]. Nevertheless, social and psychological effects of offline stalking cannot be separated as social effects can impact on psychological effects and psychological effects can impact on the social effects. Although the majority of studies have focused on the offline stalking victims, there is no evidence to suggest that cyber stalking is any less of an experience than offline stalking (Minister for Justice and Customs, 2000), As shown, there are many common themes between offline stalking and cyber stalking. For example, offenders are most likely to be male and offline stalking or cyber stalking is the response to a failed (offline/online) relationship. Additionally, young females account for the majority of victims. Furthermore, victims experience significant social and psychological effects from offline stalking or cyber stalking.[21] Legal responses to cyberstalking Cyber stalking is are a relatively new phenomenon and many countries are only now beginning to address the problem. India has also witnessed cases of cyber stalking, cyber harassment and cyber defamation. However, as there is no specific law or provision under the IT Act, a number of these cases are either not registered or are registered under the existing provisions of Indian Penal Code—which are ineffective and do not cover the said cyber crimes.[22] Since its promulgation, the IT Act 2000 has undergone some changes. One big change is the recognition of electronic documents as evidence in a court of law. Market players believe this will go a long way in giving encouragement to electronic fund transfers and promoting electronic commerce in the country. However, all hope is not lost as the cyber crime cell is conducting training programmes for its forces. It also has plans to organize special courses for corporate to combat cyber crime and use the IT Act effectively. Cyber defamation Defamation can be understood as the intentional infringement of another persons right to his good name. It is the wrongful and intentional publication of words or behavior concerning another person, which has the effect of injuring that persons status, good name, or reputation in society. It is not defamatory to make a critical statement that does not have a tendency to cause damage, even if the statement turns out to be untrue[23]. In this case a claim for malicious falsehood[24] may be raised. Another key feature of the Internet is that users do not have to reveal their identity in order to send e-mail or post messages on bulletin boards. Users are able to communicate and make such postings anonymously or under assumed names. This feature, coupled with the ability to access the internet in privacy and seclusion of ones own home or office and the interactive, responsive nature of communications on the Internet, has resulted in users being far less inhibited about the contents of their messages resulting in cyber space becoming excessively prone to defamation. What is defamatory? As to what is defamatory; Permiter v. Coupland[25] and Youssoupoff v. Metro Goldwyn Mayer Pictures Ltd[26] lay down that it is a publication without justification or lawful excuse, which is calculated to (meaning â€Å"likely to†) injure the reputation of another by exposing him to â€Å"hatred, contempt, or ridicule†[27] and make the claimant â€Å"shunned and avoided†. Then in Sim v. Stretch[28] the definition was widened to include the test whether the words tend to lower the plaintiff in the estimation of the right-thinking members of society in general. A persons good name can only be damaged if maligning statements are made to someone other than that person; that is, the defamatory statement must be disclosed to a third person, thereby satisfying the requirement of publication. Thus the law of defamation places a heavy burden on the defendant. All that a plaintiff has to prove, in a defamation action, is the publication of defamatory matter. The onus then lies on the defendant to prove innocence. In essence, the law on defamation attempts to create a workable balance between two equally important human rights: The right to an unimpaired reputation and the right to freedom of expression. In a cyber society, both these interests are increasingly important. Protection of reputation is arguably even more important in a highly technological society, since one may not even encounter an individual or organization other than through the medium of the Internet. Jurisdiction It is a fact that the tried and true real world legal principles do not apply in the digital generation. Even seemingly ubiquitous, time honoured principles must be examined, including whether a court has the power to exercise jurisdiction over a defendant because of the defendants ties to or use of the Internet or Internet related technologies. This jurisdictional rethinking requires us to address the concept that involves the right of the sovereign to exert its power and control over people or entities that use the Internet One of the complexities of the Internet is the fact that Internet communications are very different than telephone communications. The telephone communication system is based on circuit-switching technology, where a dedicated line is allocated for transmission of the entire message between the parties to the communication. A dedicated line, on the other hand, does not accomplish Internet communications. A message sent from an Internet user in India may travel via one or more other countries before reaching a recipient who is also sitting at a computer in India. Therefore, the lack of a physically tangible location and the reality that any Internet communication may travel through multiple jurisdictions creates a variety of complex jurisdictional problems[29]. Position in india Cases of cyber defamation do not fit neatly in the accepted categories of crimes. They represent harm of greater magnitude than the traditional crimes and of a nature different from them. Unlike the traditional crimes, they are not in the shape of positive aggressions or invasions[30]. They may not result in direct or immediate injury; nevertheless, they create a danger, which the law must seek to minimize. Hence, if legislation applicable to such offences, as a matter of policy, departs from legislation applicable to ordinary crimes, in respect of the traditional requirements as to mens rea and the other substantive matters, as well as on points of procedure, the departure would be justified[31] An effort is still wanted to formulate an international law on the use of Internet to curb this imminent danger of cyber crimes and to achieve a crime free cyber space. Defamation laws should be sufficiently flexible to apply to all media. The difficulty is that the defamation laws world over were principally framed at a time when most defamatory publications were either spoken or the product of unsophisticated printing. We do need a stronger legal enforcement regime in India to combat the increasing cyber crimes or in other words, efficacy in dispensation of justice will be instrumental in curtailing such activities. The position in Indian law is not very clear and amendments should be brought to Section 67 of the Information Technology Act, 2000[32] and also to Section 499 of the Indian Penal Code[33], by expressly bring within their ambit offences such as defamation in cyber space, which is certainly a socio-economic offence. Internet Banking Fraud The concept of internet banking was introduced to facilitate the depositors to have access to their financial undertakings globally. But every good thing has its own demerits; the introduction of this system was coupled by a number of fraud incidents in which the money of depositors was embezzled by the net swindlers popularly known as hackers.[34] Digital Extortion For any company doing business on the Internet, its the sound of doom: a computer voice warning of an inbound attack. Call it a cyber-shakedown: A hacker threatens to shut down a companys Web page, unless the business pays up.[35] Digital Extortion can be defined as, â€Å"Illegally penetrating through the system of an enterprise and then compelling it to pay substantial amounts in lieu of their secret data or to save their system from being wiped out by the hackers.† In a recent incident, Security researchers at Websense were trying to learn why a clients files were scrambled when they found a note demanding $200 for the electronic key to the files. The money was to be sent to an online payment service. The data was recovered without paying the ransom, but experts are worried that more sophisticated attacks could be more serious.[36] Credit Card Frauds Credit Card popularly known as plastic money has came up as a panacea for the troubles of carrying huge amount of money in the pocket. The credit card embodies two essential aspects of the basic banking functions: the transmission of payments and the granting of credit. But again the usage of this technology has brought in new forms of crimes with the fraudsters employing entirely new technologies to manipulate this technology for their illegal economic gains because unlike paper money, it was not anonymous and the usage of credit card can be traced. The Indian Legal Response to Data Theft Related Cyber Crimes In the past few years, India has emerged as a leader in information technology. Also, there has been an explosion of the BPO industry in India, an industry which is based primarily on IT[37], an industry where there is a huge risk of data theft since the business primarily is based on huge amounts of sensitive data of the customers. The numbers of computer literates have also grown at a rapid pace. The prices of computers and other peripherals have slashed drastically. Dial-up and Broadband connections, both are found and are easily accessed at cheap rates. All this has resulted in making the middle-class in India computer literate as well. Hence, as a result of all these developments, the Indian Parliament enacted the Information Technology Act, 2000. The researchers will discuss some of the remedies provided for in brief and has also provided certain suggestions as to where the act can be amended. 1) Penalty for Tampering with Computer Files As discussed already, Industrial espionage may also include tampering with the computer files to slow down the system or corrupt databases. Section 65 of the Act defines this sort of offence and prescribes an imprisonment of 3 years or fine extending to two lakh rupees. 2) Penalty for Hacking This also relates to data theft and industrial espionage. Hacking is where a person hacks into a computer resource and in any way destroys, deletes or alters any information is to be punished with an imprisonment of up to three years or a fine extending up to two lakh rupees. For this the requirement of mens rea, i.e. metal element is required. 3) Penalty for Damage of Computer, Computer System, etc. This is the section which can be said to deal directly with data spying. Section 43 says that whosoever without the permission of the owner accesses any computer ,downloads, copies or extracts any data, computer data base or such information is liable to pay compensation not exceeding rupees one crore. It takes care of all the possibilities arising out of such situations. In this case the condition of mens rea is not required, i.e. this section imposes a strict liability on every unauthorized access. 4) Penalty for breach of Confidentiality and Privacy Now, this section seeks to bring to the book people who secure access to any electronic record etc. and without the consent of the person concerned disclose the information to a third party. Shortcomings of the Act: * No steps to combat Internet Piracy- There is absolutely no legislation to combat the menace of piracy which has India firmly in its iron grip .As discussed by the researchers above India is one of the countries where there is rampant violation of copyrights. Pirates sell copyrighted material openly, on the streets, yet nothing can be done about it. * Power of Police To Search Limited to Public Places-Police officers can search public places and arrest any person having committed a cyber crime but it is seldom that such crime takes place in the open. Hence, the police have been limited in its powers by the act. * Issue of Privacy and Surveillance-There is no legislation that protects the citizens from having their physical features being examined and the details stored without their consent. When biometric systems gain currency in India the old argument of Privacy v. Security will have to be waged as it has been waged in the US. As we have seen, there are various aspects of data theft, not only the conventional one, though that remains one of the most well-known ways of data-theft, i.e. data spying .In todays world there is no one way of defining data. Data can still be in the form of a spreadsheet and also you can call information about a person including his physical features, which if they fall into the wrong hands can cause identity theft and can be used in various other ways to commit crime. The companies should monitor their employees, before hiring their employees and after hiring them. Employees should be given incentives and good salaries so that they resist the temptation to give away information to rival companies. Since it is a capitalistic system, competition will always remain, and companies will sink to unfair competition. Hence, unfair practices will always exist, and to minimize those companies should take all precautions necessary. As far as the laws concerning internet piracies go, not only in India, but the entire world needs better and more stringent laws that protect the copyright of intellectual property and stop the rampant copyright violation that has engulfed the whole world. Copyright laws need to be strengthened or else creativity will suffer since the artistes or investors will have no incentive. The music, film and publishing industry have all suffered heavily, to the tune of billions. India, also, needs more legislation, and most importantly of all, it needs to find ways to implement the existing laws, for example giving the police powers to search private places in case of suspicion of cyber crime. The definition of hacking needs to be modified and narrowed, since in the existing legislation the definition includes too many unnecessary acts. A lot of work regarding the use of biometric technology has to be done. The problem which the US face now (as has been discussed above) is the problem which is going to arise now, in India. Though biometric technology is definitely the way to go in view of the increased risk of terrorist attacks all around the globe, but there are serious issues of, not only violation of privacy, but also that of data theft, not only by criminals, but by the state itself Challenges of information technology to existing legal regime The impact of Internet on the existing legal regime can be well appreciated by the fact that the US Congress had introduced more than 50 bills pertaining to Internet and e- commerce, in the first three months of 1999 alone.[38] The issues, which need to be addressed urgently, are security of transactions, privacy, property, protection of children against an easy access to inappropriate content, jurisdiction, and validity of contracts, Procedural rules of evidence and other host of issues. Constitutional issues The issues raised by the advent of the Internet relevant to the constitutional lawyers are freedom of speech and privacy. The questions regarding the freedom of speech, which need to be answered, are: 1. Is publication, of information on the Internet equivalent to the speech and expression made by an ascertained person in real space within the political boundaries? 2. If it amounts to speech and expression should it be then regulated? 3. If it is to be regulated, should it enjoy the freedom available to press and thus subject to restrictions of article 19(2) or be treated as broadcast media, which is subject to governmental regulations? 4. Should we consider Internet a different media unparallel with the traditionally known and have to come up with different legal regime? In the developed world, a record bank is created in which individuals record image is stored. This record image is based on the information collected from different sources pertaining to an individual who remains unaware of the method, process and sources of record image[39].This record image has far reaching implications for an individual who may apply for insurance, medical care, credit and employment benefits.[40] The government also maintains electronic files, which contain sensitive information. This information is shared among the government agencies, private organisations and between the government and private sector, which in fact is facilitated by the technology itself. There is a possibility that the data collected from different sources to prepare a profile is outdated, inaccurate or out rightly false. Translating information to make it computer readable further compounds the problem. This increases the possibility of inaccuracies. Thus the objection is not that the inform ation has been collected with the knowledge of the concerned person, but the objection lies in the fact that an inaccurate information has been collected which will be repeatedly used to evaluate character, reputation, employment chances and credit worthiness of an individual who was not given chance to go through the information before it is finally stored, nor does he know the source where from the information has been collected. The Supreme Court of India has found article 21 flexible enough to encompass right to privacy within its fold. In Peoples Union for Civil Liberties v. Union of India[41] the apex court held the right to privacy a fundamental right. The apex court reminded that this right has its genesis in international instruments more particularly in articles 17[42]and 12[43] of the international Covenant on Civil and Political Rights, 1948, respectively to which India is a signatory and has to respect these instruments as they in no way infringe the domestic laws.[44] There are no two opinions about the fact that the Internet is going to be on central stage in future where an individual cannot be even in a take it or leave it situation. Its pervasiveness, speed and efficiency will provide little scope t

Financial Analysis of Oracle Corp Essay -- essays papers

Financial Analysis of Oracle Corp INTRODUCTION Background and History Oracle Corporation is a technology company that supplies software for the use of information management. They develop, manufacture, market and distribute computer software that helps other corporations manage their data so they can better grow and prosper. In 1977, Larry Ellison, Bob Miner, and Ed Oates founded System Development Laboratories. After being inspired by a research paper written in 1970 by an IBM researcher titled â€Å"A Relational Model of Data for Large Shared Data Banks† they decided to build a new type of database called a relational database system. The original project on the relational database system was for the government (Central Intelligence Agency) and was dubbed ‘Oracle.’ They thought this would be appropriate because the meaning of Oracle is source of wisdom. In 1978, Software Development laboratories moved from their offices in Santa Clara to ones in Menlo Park, the heart of the Silicon Valley. To better explain what they did, they changed their name to Relational Software Inc., or RSI. In 1979, RSI developed and distributed its first commercial SQL database V2, there was no version 1. In 1982, RSI changed its name to Oracle Systems Corporation, which later changed again to Oracle Corporation. They reasoning behind this was that they thought by naming the company after the product it would help the company obtain more recognition. In 1983, Oracle decided to make the Relational Database Management System (RDBMS) portable. They then introduce V3, the first portable database to run on Personal Computers, minicomputers and mainframes. In 1984, Oracle Corporation’s revenues reach $12.7 million and they move into a new eighty-four thousand square foot building in Belmont, CA. They also went international by working with companies in Canada, Netherlands, and a limited portion in the United Kingdom. In 1985 they hit $23 million in revenues and expanded to Austria, Germany, Japan, Sweden, and Switzerland. Their Initial Public Offering was on March 12, 1986, the same year their revenues reached $55 million. The stock opened at a price of $15 and closed at $20.75. Oracle Corporation expanded to Australia, Finland, France, Hong Kong (limited), Norway, and Spain. In 1987, Oracle’s revenues were $131 million, as ... ...rs, setting a good trend for the corporation. They also have a very low debt-to-equity ratio, indicating that they have enough equity to easily pay off any funds acquired from creditors. As a creditor I would feel safe in lending them funds for any future projects or endeavors. Bibliography: WORKS CITED Oracle Corporation 2000a. Investor Relation – Corporate History. 20 July. Internet: http://www.oracle.com/corporate/. Oracle Corporation 2000b. Investor Relations – Financials. 21 July. Internet: http://ww.oracle.com/corporate/. Oracle Corporation 2000c. 1999 Annual Report – Introduction. 21 July. Internet: http://www.oracle.com/corporate/annual_report/99/index.html. Oracle Corporation 2000d. Financial Highlights. 22 July. Internet: http://www.oracle.com/corporate/annual_report/99/financial/index.html?finhgh99.html. Moyer, Charles R., and McGuigan, James R., and Kretlow, William J. 1998. Contemporary Financial Management. South-Western College Publishing: Cincinnati, Ohio, 64-106. America Online, Inc. 2000. Personal Finance – Investment Research. 30 July. http://research.web.aol.com/index.adp?T1=orcl&item=4.