Imat

THE ITALIAN UNIVERSITIES’ INTERNATIONAL MEDICAL ADMISSIONS TEST (IMAT) TEST SPECIFICATION In partnership with Ministero dell'Istruzione, dell'Universita e della Ricerca (MIUR) February 2013 Test Specification Test Format The IMAT will have the same structure as the existing Italian test. Candidates are allowed a total of 90 minutes to complete the test. Section 1 General Knowledge and Logical Reasoning (Critical Thinking and Problem Solving) 30 multiple-choice questions. Sections 2, 3 and 4Science-based sections, covering: Biology; Chemistry; Physics & Mathematics. 30 multiple-choice questions. All questions have five options, of which one is correct. Candidates record their answers on a separate answer sheet. Candidates can also indicate if they have opted not to answer a question. Candidates are allowed 90 minutes to complete the test. Scoring A candidate’s total score is calculated using the following formula: 1. 5 points for each correct answer; -0. 4 points for eac h wrong answer; 0 points for each question not answered.An overall total score will be reported, together with a score on each section. Level of Difficulty The level of difficulty of the test items will be targeted to discriminate effectively between applicants, including those who may have achieved the highest possible grades in school examinations. Section 1: General Knowledge and Logical Reasoning (Critical Thinking and Problem Solving) Section 1 will assess general knowledge and the logical reasoning skills that students must possess if they are to succeed in a course of study at the highest level.Such skills are basic to any academic studies, which often require students to solve novel problems, or consider arguments put forward to justify a conclusion, or to promote or defend a particular point of view. General Knowledge General Knowledge questions may address a range of cultural topics, including aspects of literary, historical, philosophical, social and political culture. 1 The World Heritage Convention, adopted by UNESCO in 1972, aims to identify and maintain a list of sites that may be considered: A of exceptional cultural or natural importance B of outstanding economic value C to be characterized by a lasting peaceD to be conventionally suitable for human settlement E to have exploitable energy resources Critical Thinking Critical Thinking involves reasoning using everyday written language. Questions focus on the skills involved in understanding and evaluating arguments. These include: drawing and summarising conclusions, identifying assumptions and reasoning errors, and assessing the impact of additional evidence. Summarising the Main Conclusion 2 There has been a decline in the rate of many of the illnesses of old age. The causes of this decline include such medical advances as new drugs and surgical techniques.There is, however, another factor. The present generation of 60- and 70-year-olds had much better nutrition as children than did their par ents. Good nutrition in childhood is important for good health in adulthood. Since improvements in nutrition have continued over the past sixty years, we can expect that many of the illnesses of old age will continue to decline. W hich one of the following best expresses the main conclusion of the above argument? A W e can expect that improvements in nutrition will continue. B The rate of many of the illnesses of old age has declined.C Medical advances have significantly reduced the rate of diseases of old age. D The fall in the rate of many of the illnesses associated with old age will continue. E Improvements in nutrition have been very important in maintaining good health in old age. In this type of question you have to judge which one of the statements A to E best expresses the main conclusion of the argument. The conclusion can appear anywhere within an argument – not necessarily at the end. What you are looking for is the statement which follows from, or is supported by the rest of the passage. Drawing a Conclusion The demand for blood donors is increasing all over the world. In Western countries, in particular, demand has been rising so rapidly that shortages have begun to appear. In all such countries, demand is growing much faster than rates of growth in populatio ns aged 1865, and it is this group who are the major blood donors. And, despite a massive research effort to find alternatives, it remains true that in medicine there is no substitute for human blood. W hich one of the following conclusions can be drawn from the passage? A As the demand for blood has increased, so has the supply fallen.B The rate of growth of the blood-donor population has been slowing recently. C The increase in the rate of demand for blood is mainly due to population growth. D If more blood donors could be found, there would be no need to find a substitute for human blood. E The problem of the increase in demand for blood shows no sign of disappearing. In this type of question you are asked which conclusion follows from the information given. You need to consider each of the statements A to E, and to think about whether the information in the passage gives you good reasons to accept the statement. Identifying an Assumption 4Success in modern America is very much measured by the quantity of material possessions one has. A lack of material possessions means one is judged to be unsuccessful. Those people with few material possessions therefore must feel a strong sense of failure. W hich one of the following is an underlying assumption of the above argument? A Most modern Americans are successful. B Success can be precisely measured. C Over-emphasis on material possessions creates social problems. D Excessive desire for material possessions is psychologically damaging. E People in America with few material possessions want to be seen as successful.An assumption is something which is not stated in the argument, but which is taken for granted in ord er to draw the conclusion. So you need first to identify the conclusion of the argument. Then look for the reasoning it gives to support this conclusion, and think about any important point which is not actually stated in the reasoning. Assessing the Impact of Additional Evidence 5 Zoos are entirely unsuitable places for animals. People visit zoos to learn about animal behaviour but the animals they see are likely to be behaving in abnormal and neurotic ways because of the cramped and unnatural conditions n which they are kept. Zoos should be closed and the money saved should be used for the protection of natural habitats. W hich of the following, if true, would most weaken the above argument? A Humans living in cramped conditions can also become neurotic. B Schoolchildren can learn a great deal about animals from visiting zoos. C Many of the animals at present in zoos would not be capable of living in the wild. D The protection of natural habitats is very costly. E Zoos enable enda ngered species to s urvive by breeding them in captivity and then reintroducing them to the wild.This type of question will typically ask you to consider what would weaken or strengthen an argument. You need first to be clear about what the argument is trying to establish. Work out what the conclusion is, and then consider what effect each of the possible answers would have on the conclusion. Detecting Reasoning Errors 6 In order to succeed in academic examinations it is necessary to study. Therefore, if a student works hard in a particular subject, he or she shoul d do well when it comes to the examination. W hich of the following best describes the flaw in the argument? A It assumes that it is necessary to study in order to succeed.B It overestimates the value of studying in preparation for examinations. C It ignores the fact that some subjects are more academic than others. D It assumes that studying hard is a sufficient condition for academic success. E It ignores the fact that some students do not need to study very much in order to succeed. This type of question asks you to identify the flaw in the argument, which means that you must explain why the conclusion does not follow from the reasons which are given. So you need to be clear about what the conclusion is, and what reasons are meant to support it. Problem SolvingProblem Solving involves reasoning using numerical and spatial skills. Questions are of three kinds, each assessing a key aspect of insight into unfamiliar problems. The three kinds are Relevant Selection, Finding Procedures, and Identifying Similarity. Although most questions fall into one category some questions fit into more than one of the categories. Relevant Selection 7 The following table gives figures for the percentage growth per year of labour productivity per person per year in various countries during three periods. Period 1 Period 2 Period 3 Japan 8. 5 3. 0 3. 2 France 5. 4 3. 0 2. 6 United Kingdom 3. 6 . 5 2. 4 Belgium 3. 3 2. 8 2. 3 Sweden 4. 1 1. 5 1. 8 Denmark 4. 3 2. 6 1. 7 Italy 6. 3 3. 0 1. 6 Netherlands 4. 8 2. 7 1. 6 Germany 4. 5 3. 1 1. 6 United States 2. 2 0. 0 0. 8 W hich country's percentage growth per year remained consistently greater than half of its Period 1 level in the following periods? A Belgium B Denmark C France D Germany E United Kingdom Very often a real world problem will be overloaded with information, much of which is unimportant. This kind of question demands Relevant Selection, in which the task is to select only that information which is necessary and helpful in finding a solution.Finding Procedures 8 A child's bus fare is cheaper than the adult fare but is more than half the adult fare. The total cost of a single journey for an adult and two children is â‚ ¬1. 20. Adult fares are all multiples of 10 cents. W hat is the adult fare? A 30 cents B 40 cents C 50 cents D 60 cents E 70 cents Sometimes you will find that even if you have selected all the relevant information, no solution presents itself. For this type of question, you have to find a method or procedure which you can use to generate a solution. Identifying Similarity 9In this type of question you will be presented with information and asked to identify the same information presented in a different way, or a situation in which different information has a similar structure. Section 2: Biology The chemistry of living things The bio-elements. The biological importance of weak interactions. Properties of water. Organic molecules in living organisms and their respective functions. The role of enzymes. The cell as the basis of life Cellular theory. Cell size. Prokaryotic and eukaryotic cells. The cell membrane and its functions. Cellular structures and their specific functions.Cell reproduction: mitosis and meiosis. Chromosomes. Animal tissues. Bioenergetics The energy currency of cells: ATP. Transporters of energy: NAD, FAD. Oxidationreduction reactions in living things. Photosynthesis. Glycolysi s. Aerobic respiration. Fermentation. Reproduction and Inheritance Life cycles. Sexual and asexual reproduction. Mendelian genetics. Basic laws and applications. Classical genetics: chromosome theory of inheritance; sex chromosomes, chromosome maps. Molecular genetics: DNA and genes, genetic code and its translation, protein synthesis. DNA of prokaryotes.The chromosome of eukaryotes. Regulation of gene expression. Human genetics: transmission of mono and multi-factorial features, hereditary diseases. New frontiers of genetics: recombinant DNA and its potential bio-technological applications. Inheritance and environment Mutations. Natural and artificial selection. Evolutionary theories. The genetic basis of evolution. Anatomy and Physiology of animals and humans Anatomy of the major organs and their functions and interactions. Homeostasis. Hormonal regulation. Nerve impulse. Transmission and processing of information.The immune response. Section 3: Chemistry The constitution of matte r States of matter; heterogeneous and homogeneous systems; compounds and elements. The structure of the atom Elementary particles, atomic number and mass number, isotopes, electronic structure of atoms of the elements. The periodic table of elements Groups and periods, transition elements, periodic properties of elements: atomic radius, ionization potential, electron affinity, metals and non-metals; relations between electronic structure, position in the periodic table and properties. The chemical bondIonic bond, covalent bond, bond polarity, electronegativity. Fundamentals of inorganic chemistry Nomenclature and main properties of inorganic compounds: oxides, hydroxides, acids, salts; position in the periodic table. Chemical reactions and stoichiometry Atomic and molecular weight, Avogadro constant, concept of the mole, conversion from grams to moles and vice versa, elementary stoichiometric calculations, balancing simple reactions, various types of chemical reactions. Solutions So lvent properties of water, solubility, the main ways of expressing the concentration of solutions.Oxidation and reduction Oxidation number, the concepts of oxidising and reducing agents. Acids and bases Concepts of acids and bases, acidity, neutrality and basicity of aqueous solutions, pH. Fundamentals of organic chemistry Bonds between carbon atoms; molecular, structural and displayed formulae; concept of isomers; aliphatic, alicyclic and aromatic hydrocarbons; functional groups: alcohols, ethers, amines, aldehydes, ketones, carboxylic acids, esters, amides. Section 4: Physics & Mathematics Physics MeasuresDirect and indirect measures, fundamental and derived quantities, physical dimensions of quantities, knowledge of the metric system and the CGS System of Units, Technical (or practical) (ST) and the International System (SI) of Units (names and relationships between fundamental and derived units), and multiples and submultiples (names and values). Kinematics Kinematic quantities, various types of motion with particular regard to uniform and uniformly accelerating rectilinear motion, uniform circular motion, harmonic motion (for all motion: definition and relationships between measures).Dynamics Vectors and operations on vectors. Forces, moments of forces about a point. Vector composition of forces. Definitions of mass and weight. Acceleration due to gravity. Density and specific gravity. Law of universal gravitation, 1st, 2nd and 3rd laws of motion. Work, kinetic energy, potential energy. Principle of conservation of energy. Fluid mechanics Pressure, and its units of measurement (not only in the SI system). Archimedes' principle. Pascal's principle. Stevino's law. Thermodynamics Thermometry and calorimetry. Specific heat, heat capacity.Mechanisms of heat propagation. Changes of state and latent heat. Ideal Gas Laws. First and second laws of thermodynamics. Electrostatics and electrodynamics Coulomb's law. Field and electric potential. Dielectric constant. C apacitors. Capacitors in series and in parallel. Direct current. Ohm's law. Electrical resistance and resistivity, electrical resistors in series and in parallel. Work, Power, Joule effect. Generators. Electromagnetic induction and alternating currents. Effects of electrical currents (thermal, chemical and magnetic). Mathematics Algebra and numerical setsNatural numbers, integers, rational and real numbers. Sorting and comparison, scales and scientific notation. Operations and their properties. Proportions and percentages. Powers with whole and rational exponents and their properties. Roots and their properties. Logarithms (base 10 and base e) and their properties. Elements of combinatorics. Algebraic and polynomial expressions. Special products th of binomials, n power of a binomial, factorisation of polynomials. Algebraic fractions. Algebraic equations and inequalities of the first and second order. Systems of equations. FunctionsBasic concepts of functions and their graphical rep resentations (domain, codomain, sign, maxima and minima, increasing and decreasing, etc. ). Elementary functions: whole and fractional algebraic functions, exponential, logarithmic and trigonometric functions. Composite functions and inverse functions. Trigonometric equations and inequalities. Geometry Polygons and their properties. Circle and circumference. Measurement of length, area and volume. Isometries, similarities and equivalences in the plane. Geometric loci. Measure angles in degrees and radians. Sine, cosine, tangent of an angle and their significant values.Trigonometric formulas. Solving triangles. Cartesian reference system in a plane. Distance between two points and the midpoint of a segment. Equation of a line. Concepts of parallel and perpendicular. Distance of a point from a straight line. Equation of the circle, the parabola, hyperbola, ellipse and their representation in the Cartesian plane. Pythagorean theorem. Probability and Statistics Frequency distributions a nd their graphic representations. Concepts of random experiments and of events. Probability and frequency. Specimen Biology, Chemistry, Physics and MathematicsQuestions 10 The diagram below shows a family tree of a condition known as nail patella syndrome (NPS). 1 3 4 2 5 7 6 8 9 Key female without NPS male without NPS female with NPS male with NPS W hich of the following pairs of individuals must be heterozygous for NPS? A 1 and 5 B 2 and 6 C 3 and 7 D 4 and 8 E 5 and 9 11 An oxide of iron has the formula Fe3O4 and contains both Fe 2+ and Fe W hich one of the following is the fraction of iron ions that are in the Fe 3+ 2+ ions. state? 1 /4 A 1 /3 B 1 /2 C 2 /3 D 3 /4 E 12 Below are four statements about thermal (heat) energy. 1A substance can lose heat energy without its temperature falling. 2 Heat energy can pass through a vacuum. 3 Steam at 100 C has more heat energy than the same mass of boiling water o at 100 C W hen a container of water is cooled near the top, a convection cur rent is set up in the water. 4 o W hich statements are true? A 1, 2 and 3 B 2, 3 and 4 C 1, 2 and 4 D 1, 3 and 4 E all of the statements 13 The longest side of a right angled triangle is 6 One of the shorter sides is 3+2v5 units. W hat is the length of the third side? A B 2v3 70+24 5 C 12 D 3 ? v5 E 14 +7. 5v5 v5 units.

Bernice Bobs Her Hair

F. Scott Fitzgerald’s story ‘Bernice Bobs Her Hair’ entails the tale of an old way of life that might respond the contemporary society in some way but not to shape culture of modern generation as a whole. There are some scenes that we can identify as unchanged and timeless such as boys mocking the girls that are beautiful in their eye sights, girls who love fashion to feel themselves attractive to boys hoping to marry one of the finest military bachelors as the most interesting parts of their youthfulness, and some improper behavior like betrayal of trusts, envy and revenge to people just to get even.Other conduct portrayed is irrelevant and not comparable today. The label Lost Generation comes to refer with American and English literary authors who gave most of their lives in publishing works in Europe particularly in France during and after the World War I. Author of this story is included in this label. Though not already applicable to the larger population in this modern times such group’s label, the impact of their literary work genre that has done and influenced the next in line are undoubtedly beneficial especially to the youth.One of the themes of the Lost Generation is women’s complete liberation from cultural nurture such as wearing a much shorter kind of skirt and likewise shorter haircut. In this story, the social freedom of women has been properly demonstrated when Bernice take a stand of embracing her new bobbed hair cut although she was unknowingly betrayed by hair cousin Marjorie at first.Aside from gender independence by showing the much radical fashion of women, it is also obviously showed off in the story activities such as drinking, smoking and dancing to the tune of barely earsplitting kind of music. Prior to 1920’s women on their teenage life doesn’t seem to be like this, which means that F. Scott Fitzgerald along with other Lost Generation authors created a public awareness of feminist liber ation. With relevance to our modern generation, this scene is closely similar as ladies today of the same age in the story are candid and extrovert.They openly drinks smokes and dances loud music wildly. The story ‘Bernice Bobs Her Hair’ opens a suggestion of restlessness and intimidation. One of the scenes that offer social impact was when Marjorie gave the statement to her mother Mrs. Harvey that Bernice’s Indian blood holds herself back to become dull, unattractive and boring woman. Such impression although came out not as one of the very important implication in the story, gave a very delicate and sensitive statement of racial and gender issue.On this note, the uneasiness to clearly reveal the topic of American liberation as well as women independence is expressed in this Lost Generation literary piece. R E F E R E N C E S Fitzgerald, F. S. â€Å"Bernice Bobs Her Hair. † F. Scott Fitzgerald Centenary. 1996. Board of Trustees of the University of South California. 23 Feb. 2009 â€Å"Lost Generation. † 2009. Wikipedia, the Free Encyclopedia. 23 Feb. 2009

Resolving Conflicts at Work Essay Example | Topics and Well Written Essays - 750 words

Resolving Conflicts at Work - Essay Example This paper is a review targeted at analyzing the following statement: â€Å"Taking off masks and revealing hidden emotions†.   Hiding emotions can very often lead to a build-up of anger, or also make an individual lie or avoid the truth.   Doing this distorts the behavior of an individual, and an individual may even begin to believe that this â€Å"mask† is, in fact, really who he or she is.   Hiding emotions can result in several unsatisfactory actions.   One of these actions is known as â€Å"blowing up,† what this, in fact, means, is that anger has been allowed to build up within the individual, and then something sets the individual off, and everything that has been hidden comes out at once.   When the anger comes out, it may often be lashing out at something that really did not seem to be a serious concern in the first place, which may confuse the individual that is actually the target of the anger.   Ã‚  Ã‚  Ã‚   Another concept brought up in th e chapter is â€Å"Behaviors that Trigger Anger.†Ã‚   For many, anger can be difficult to understand because many do not often understand what the true source of that anger was. Responding logically to anger can sometimes make anger even worse.   Therefore, in a working environment, it may be important to bring a team together if somebody has become angry, and try to figure out what is not working for everybody.   Meetings like this can often be helpful because they can establish ground rules.

Change Management Assignment Example | Topics and Well Written Essays - 500 words

Change Management - Assignment Example Make sure that there is active support for the change from the senior executive level within the business or organization, and engaging these sponsorships to the plans in order to achieve the desired results. Change in management comes with tension in the operation before the team adapts to the new system. The manager should gather information from both internal and external and analyze the weak points and make a quick solution to the problem. When a manager focuses on both internal and external initiatives, the company increases the chance of success. Ethics involves the individual’s moral judgment about the wrong and the right. Most of the decisions made in an organization are either made by individuals or groups who are guided or influenced by the culture of the company. The decision made by the manager to behave ethically is a moral one and therefore the employee or the managers should decide what they think is the right course of action. Ethical behavior is an integral part of everything that all the companies or organization should apply alongside good corporate governance. The manager should treat all the stakeholders in a fairly as this is an essential part of the company’s success. The manager can achieve this by creating a managed corporate and social responsibility program to the best interest of all the stakeholders. That is; the manager should focus on the employees, suppliers, customers and other partners who work together with the company. The manager can increase the ethical practices within the organization by ensuring that all  staff members  understand the company’s corporate values and principles of the business.

Methods and History and Cases under the Criminal Justice System Essay

Methods and History and Cases under the Criminal Justice System - Essay Example In the case of Panetti vs Quaterman, the Defendant Scott Louis Panetti was sentenced to death row because of the double murder he committed, after killing his wife's parents. His doctors stated that Panetti have a mental disorder and the doctors concludes that Panetti believes that he will be put to death because he is preaching the Gospels. The case of Panetti is similar to the decision of Supreme Court in 1986, for the case of Ford vs Wainwright. The idea of mental illness is fundamental, and in a due process model the Criminal justice development, it has been contended, can be characterized as a structure whereby ever growing impediments are required to be prevailed over as the suspect continues further down it. (Institute of Criminal Justice Studies, 2003, page 66). It is also contended by Gelsthorpe (2002, page 106) that those caught up in defence work are more connected with due process whereas prosecutors and the courts are more connected with a crime control model. Due process recognizes that a number of culpable individuals will be exonerated but contends that this is fair with the intention of making sure the freeing of the innocent. (Institute of Criminal Justice Studies, 2003, page 66). In... A rule which driven the accountability for crime prevention beyond onto the responsibility of private individuals seemed foolish, given that it purely bared the shortfalls of a criminal justice system which was calling for a greater fraction of public expenditure. Possibly more vital, although, were the issues regarding creating a stronghold mentality, which would consecutively produce more apprehension than the lopsided quantity and previously subsisted, and which was swiftly being distinguished as an issue in its own right. As a general rule, the threat of harm must be real and present 48 and the proof of dangerousness clear and convincing. 49 We note at the outset that dangerousness has a special, though elusive, meaning in the context of involuntary commitment. It refers not only to the likelihood of violence to oneself or to others but also to severe self-neglect, to the point where the individual is unable to survive safely in the community, as the Supreme Court was careful to explain in its landmark decision in O'Connor v. Donaldson. Although civil commitment had been practiced in the United States for over two hundred years, O'Connor was the first case in which the Supreme Court considered the constitutional boundaries of the commitment process. The case involved a fifty-five-year-old man who was committed to the Florida State Hospital at Chattahoochee in 1957 and kept there for nearly fifteen years without treatment, although he had never been dangerous to himself or others, was capable of earning a living outside the hospital, and had received offers to live in a supportive halfway house or with a former college classmate who was willing and able to provide for his welfare. The

Memory Deficits and Aging Essay Example | Topics and Well Written Essays - 1000 words

Memory Deficits and Aging - Essay Example Memory impairment among the elderly often begins casually and progresses consistently leading to a disproportionately impaired cognitive symptom over time. By the middle part of the disorder, the memory is impaired but other types of cognitive functions such as language, visuo-spatial abilities, and key executive functions are also impaired. In its advanced stages, the patient ultimately becomes disoriented to time, place, and finally, persons. The advanced and latter stages will then require specialized medical care and attention to address the daily functioning of the elderly. The Diagnostic and Statistical Manual of Mental Disorders (DSM IV; APA 1994) defined dementia as "the progress of multiple cognitive deficits that covers memory impairment and one of any of these cognitive disturbances: aphasia, apraxia, agnosia, or a disturbance in executive functions" (p. 134). Cognitive disturbance as manifested in dementia pertains to a decline from a higher normal level of daily functioning to a severely impaired level which seriously affects an individual's discharge of his/her social, family or work duties. The prevalence of dementia increases significantly with age, and approximately 6% of individuals over age 65 and 20% over age 80 suffer from a a disabling degree of dementia (Plum 1987). Dementia and amnesia are... However, a single pattern of preserved and impaired cognitive abilities may not pertain to all amnesic sicknesses. Research Questions: This study will explore these research questions: a.) What is the incidence of memory deficits among the British elderly population considering functional limitations and demographic characteristics b.) What are the social services and medical services available for the British elderly population who are afflicted with this memory deficits c.) What is the extent of self-reported memory function among the British elderly population who are afflicted with dementia d.) What services do private elderly facilities provide for those who suffer from memory deficits Research Methods This study will utilize a quantitative methodology consisting of a survey questionnaire which is self-administered and the implementation of a Randt Memory Test (RMT) which will be administered to approximately 200 British elderly persons in a private facility.A RANDT MEMORY TEST (RMT) (Randt & Brown 1983) will be administered to the designated respondents. The RMT is a memory test which covers seven subtests: tests of general information, immediate span of auditory-verbal attention, verbal learning and recall, picture recognition, and learning test of the names of the previous tasks. The objective of this test is to present a global survey of patients' memory complaints.A key highlight of the RMT over other types of tests is the presence of at least five alternative forms which then allows for multiple testing of the respondents over short intervals of time. Aims of the Research The ability to measure and characterize memory disorders at both the structural and functional

HR Policy and Guideline implementation to MEGlobal Human Resources Case Study

HR Policy and Guideline implementation to MEGlobal Human Resources - Case Study Example It has also been found in the study that global HR perspectives should be accommodative to people from diverse cultural backgrounds. This is very important since it helps people to identify with the organization. Introduction Managing human resources issues in organizations that are comprised of people from different nations is quite challenging as a result of the fact that the cultures of these people differ. Research has also shown the significance of human resources management especially in the changing global environment in which organisations operate. It can be seen that there ought to be rules in every organization hence the HRM policies in multi-national or international organisations ought to be standardised so as to be in a position to create fair working conditions among people from different cultures belonging to the organization. As such, this paper has been designed to analyse the case study of MEGlobal. The paper starts by describing the case study and this is followed by carrying out a critical analysis of what ought to be done in order to improve the HR policies in the company. Situational analysis MEGlobal is one of the leading producers and marketers of Glycol and it has offices in USA, Canada, Switzerland, China, Hong Kong and Dubai but the main manufacturing location is in western Canada. However, one of the offices has faces the situation that needs to be addressed without offending four of the employees who are labelled as having bad body odor and mouth odor to the point that it has become difficult for other people to conduct business. Being a multi ethnic office, the other problem is that the pantry smells of a variety of ethnic foods when they are microwaved. There is negative talk about these people who apparently are hardworking employees and very good in their respective jobs. In order to address the issue raised in the case study given, it is imperative to take a holistic approach so that there is no person who will feel side-lined. Significance of culture It is imperative to ensure that the organizational policies are designed to include aspects that are concerned with improving the welfare of the people in different ways. The policies should be designed in such a way that they address employee welfare issue solving conflicts as well as motivating the employees to put optimum effort in their operations. The aspect of culture should be given priority in as far as solving this particular case is concerned. According to Werner et al (2003), culture can be simply defined as a way of doing things by an identified group of people. There are two different forms of culture namely: culture of the local people as well as organizational culture. When HRM policies are being designed, these factors need to be taken into consideration. In this particular case, it can be noted that the convergence of different cultures is means that a holistic approach has to be taken when addressing the issue of â€Å"odour† among s ome of the employees. As noted, employees at MEGlobal come from different cultural backgrounds and what may appear to be unusual is common in other cultures. The concept of human resources management should be carefully taken into consideration in as far as dealing with the aspect of culture is concerned. â€Å"HRM is described as a system of philosophies, policies as well as practices that affect the people who work in the organization,† (Jackson et al 2001, p. 119). Since people are the most important asset

How will the global communication revolution impact on the development Essay

How will the global communication revolution impact on the development of fashion and fashion-related businesses in the future - Essay Example There are two especially widely used models of the communication revolution implications. The first is termed the "Golden Straightjacket," which has been popularized by Thomas Friedman, in which economic development is regarded as a primary driver to socio-political change. This is different from a parallel vision, popularized by Samuel Huntington, where as an outcome of culture, the "clash of civilizations", rather than economic development, is the primary driver to alter. "Rejecting both concepts as being somewhat too static, a third possibility exits in which economic unrest can take cultural forms, and that an over-emphasis on Western consumerism with hostility towards Westernized elites, can exacerbate even further the cultural dimensions of this conflict" (McChesney 2001) In looking at the convergence of cultural and economic stimuli to unrest, outgrowths of the communication revolution is regarded. In the globalization of information there are the following phenomena in play: In an attempt to explore further the intertwining of cultural and economic forces as part of the communication revolution, we can turn our attention to the "globalization of style." Here we may talk about a wide variety of entertainment products, brand and fashion names, and so forth. For example the globalization of style tends to be largely an American inspired phenomenon making the U.S. a particularly salient object of political resentment and dissent. Such products as Coca Cola, Dell, Baywatch, Google, Tommy Hilfiger and other commodities tend to be American in content and character, and the single largest national purveyor of the mentioned globalization of style is in most cases the United States, which may be challenged because of this reason. The extent to which English language literacy is synonymous with the globalization of information can be identified. That is the case not only in terms of hardware acquisition, installation or repair, but also in the world of software applications. The dominance of the English language in the global communication revolution is accompanied by what is termed the bombardment of Western images. The prevalence of Western images is tempting and frustrating at the same time, as it creates unattainable desires. Additionally the global information revolution has increased social stratification in which those most likely to participate most actively tend to have fluency in the English language, foreign bonds, and high degree of education. Thus, the communication revolution is a phenomenon that is often restricted to the business or political elite. Most people consider that only a limited group can afford to

Representation of Interests Matrix and Paper Essay Example for Free

Representation of Interests Matrix and Paper Essay Within Public Policy there are different interests that are affected once the issue has been brought forward to the government by citizens who are sending e-mails, or telephone calls advising of the issues that are affecting society, what the citizens do not know is that with every issue within public policy that has to be passed by the government and attempted to get resolved has a significant affect or groups and organizations. The identified groups and organizations represent my interests in a significant manner because due to my profession I am aware that crime has been a problem for society for quite a long time, I am aware that there has been multiple attempts to reduce crime, such as the hiring of more police officers, programs that protect victims and witnesses of a crime. Therefore I believe crime is a significant interest. As for education experiencing affects by public policy, I think this is by far the most important. I have a child and am extremely aware of the problems that have affected our education systems significantly due to the lack of financial support from the government and also the increase in college education, books, etc. I am aware of the government attempting to clear the tax deficit and financial problem that our country is currently facing, but education is not the way to do it. As for the other remaining identified groups such as Foreign policy, Health care, and Social Welfare, they also represent my interests in a significant manner. For example Health care, has affected me significant due to our president passed the new reform my employer checks have significantly dropped from what I used to gross monthly, due to the fact that we are taking a hit because we are assisting those with no medical health care and those who are receiving assistance from the government, such as parolees and prior drug addicts, or convicts. The groups represent my interest by all means, ultimately besides us taxpayers who are affected based off the government trying to accommodate all the citizens who continue to write emails requesting assistance for the interests that are affected by public policy. As for any instanc es in which my interests compete with one another, Yes they are significant. For example, Health care and Social Welfare go hand in hand for me. The reason that these two interests go hand in hand for me is because once gain based on my work and what I have been exposed to during the military and also being familiar with the cost of healthcare, I take it as an offense to provide for those who personally do not deserve Healthcare. I strongly believe that if your not physically incapable of working, or able to care for yourself, or gravely disabled I will be the first one to help these citizens. As for Social Welfare, I also believe that the government is to lenient on how they assist the needed. Some of the interest that I chose are significant to me and my family and loved ones, but I think that the most interest affected by public policy that is in conflict with those of the general public will have to be healthcare. I remember i was working the day when our president passed the new Healthcare reform, and how citizens were running outside the streets celebrating that they will now have medical assistance. At first I did not think anything of it until the following morning during Roll Call when we were advised by our lieutenant that it will affect us significantly especially financially. As the months went by I started to notice my checks to get smaller and smaller. I am aware that the general publics thinking is different than mine, but do not get me wrong I will be the first one to help someone I have been doing it for 13 years of my life, but when citizens take advantage that is when I have a problem. In conclusion I have provided my own personal opinions of how my identified groups represent my own personal interests, I also provided examples on what means do my groups use to represent my interests. I also debated on instances in that my interests compete with one another. Finally I was precise and straight forward on my interests and how some of them conflict with those of the general public. References http://en.wikipedia.org/wiki/Policy http://www.palgrave-journals.com/iga/journal/v1/n2/full/iga20129a.html

Academic performance Essay Example for Free

Academic performance Essay Purpose of project Over the years at Queen’s Royal College I have seen teachers having stern conversations with students for reaching to school late habitually. These students are faced with consequences such as: â€Å"in-house suspension† or community service for regular late coming. I myself have been a victim of these punishments. It is believed that students who are frequently late are indiscipline, and this can spill over into their study habits, hence affecting their overall performance in their internal examinations. On the other hand, some share different views that punctuality has no effect on a student’s performance. Reason being, students do extra studies at home, hence making up for lost time at school. In that context I would like to determine through a statistical study whether or not there is a correlation between student’s punctuality and academic performance in Queen’s Royal College. I chose to study the present fifth form year group because this is the year they will be heading into the CXC CSEC examinations, assuming at this point, their attitude towards their school work will be serious. See more: Strategic Management Process Essay Variables: Let X be the total sum of form 5 students’ number of times late Let Y be the total sum of form 5 students’ average end of term examination scores Other information: seldom number of times late excessive number of times late 30% 49% bad average score 50% 69% good average score 70% 89% excellent average score n is the number of students in the sample size Let ∑x represent the sum of all the times late by the form 5 students Let ∑y represent the sum of all the form 5 students’ end of term exam average  scores Let ∑xy represent the sum of the multiples of form 5 number of times late and form 5 end of term exam average scores Let∑x2 represent the sum of the squares of the form 5 students’ number of times late Let ∑y2 represent the sum of the squares of the form 5 end of term exam average scores Let represent the sample mean of X Let represent the sample mean of Y Method of data collection 1. I collected a copy of the roll books for the various form 5 classes for term 1 (September to December) from the various form teachers. 2. The average score for each student was obtained from the dean of the form 5 year. 3. I counted the number of times late for each student and totaled it. 4. Then I sampled the data. To do this, I used systematic random sampling, I used the lottery method. I wrote each of the student numbers for a particular class (R first) on a separate little piece of paper and put them all into a hat. Then I picked out 10, one at a time without replacement, and for each one I chose, I wrote down the number of times late and the corresponding average score. 5. I repeated this for the classes O, Y and L. So in the end I had a sample size of 40, 10 from each class. 6. Afterwards I organized the data, making lists of the student number and their corresponding number of times late and average end of term exam scores for from 5 classes R, O, Y and L and put it into a table. Presentation of data Fig 1.1 Fig 1.1 is a table showing n of forty form 5 students chosen and their corresponding punctuality and average score obtained at the end of the term. Of the forty students chosen twenty-five were seldom late and fifteen students were excessively late. It also shows that, eight did bad in the end of term exam, twenty-one did good and eleven did excellent. Of the eight that did bad 2 were excessively late and 6 were seldom late. Of the twenty-one that did good 12 were excessively late and 9 were seldom late. Of the eleven that did excellent 1 was excessively late and 10 were seldom late. Fig 1.2 Fig 1.2 is a bar graph showing performance level attributed to students who were seldom late and excessively late. Of the eight that performed badly [see Table 1.1], 75% were seldom late and 25% excessively late. Of the twenty-one that performed good 43% were seldom late and 57% were excessively late. Of the eleven that did excellent 91% were seldom late and 9% were excessively late. Fig 1.3 Fig 1.3 is a scatter plot showing form 5 students’ average end of term score in relation to the number of times they were late. Analysis of data Chi-square test of independence A χ2-test of independence at the 5% level of significance will be used to determine whether the form 5 students number of times late and average end of term scores are independent of each other, or if there is a relationship between them. H0 represents the null hypothesis H1 represents the alternative hypothesis O represents observed frequencies E represents expected frequencies ÃŽ ± represents the level of significance v represents the number of degrees of freedom H0: A student’s form 5 end of term average score is independent of his number of times late. H1: A student’s form 5 end of term average score is dependent on his number of times late. In Fig 1.4, from the points a regression line was drawn which passes through the mean of both sets of data, . The line shows y tends to decrease extremely gentltly as x, increases. Also, the points are scattered about the regression line. This shows that there is a very weak negative correlation between X and Y. Discussion of findings My purpose was to investigate the relationship between student’s punctuality (X) and academic performance (Y) in a form 5 year group in Queen’s Royal College. After I collected my data and sampled it, I put it into a table (Fig 1.1), and then decided to put it in a scatter plot (Fig 1.3) and a bar graph (Fig 1.2). This made the relationship between X and Y easily identifiable. It was also now easier to compare them both. After appropriately representing my data, I chose to do a Chi-square test of independence. This was to determine whether X and Y are independent of each other or not. My decision, at the 5% significance level was to reject the alternative hypothesis, meaning that X and Y are not dependent of each other, and so a student’s form 5 end of term average exam score does not depend on his punctuality record. However, that was not the case and the Chi-square test proved that X and Y are dependent of each other. After determining that X and Y are dependent on each other in the Chi-square test another test was carried out. Details of the relationship were necessary, and so r, the linear product moment correlation coefficient, and the equation of the regression line were calculated. The linear product moment correlation coefficient goes from 1 to -1 and indicates the strength of the linear correlation between two variables. In this experiment, r was found to be -0.141. This value is negative and very low i.e. near to 0, indicating that there is a very weak negative linear correlation between X and Y. Therefore, from this test, it is safe to say that there is no relationship between X and Y. r also indicates the strength of the least squares regression line that was found. A least squares regression line of Y on X minimizes the sum of the square of the y differences, therefore it is the most accurate representation of the data in the scatter plot, and i.e. the best fit line. The equation of this line was found to be y = 62.12 + -0.2x, and the point ( lies on this line, this was demonstrated on the second scatter plot (Fig 1.4). Since r is very low, this regression line is very weak, and therefore the predictions made from it will be inaccurate. The value of b, -0.2 represents the amount by which y decreases for every unit increase in x, i.e. the number of additional marks in form 5 end of term exams that a student will lose for every additional number of times they were late. The value of a, 62.12, would represent the score a student would  get in form 5 end of term exams if he is late 0 times for the term. Limitations: This sample was only taken from one year group, and so it does not necessarily accurately represent future year groups. This test was done using only scores from one specific examination, there may be errors due to this because students may not have performed at their usual abilities for various reasons, such as an illness or a family problem and also students’ varying choice of subjects in that some may be doing relatively easier subjects than others and some may be doing less subjects than others. While collecting my data I observed that it had a lot of students who were absent. Therefore, besides punctuality, absenteeism could have affected their end of term average scores. Conclusion In this study, one test proved that X and Y were dependent of each other while the other test proved that there was no correlation between them. Therefore no clear cut conclusion can be made as to whether or not a student’s academic performance depends on their punctuality record in Queen’s Royal College. This study however, can be improved by collecting data from a larger sample to increase accuracy of data and carrying out the test for different year groups. References J. Crashaw J. Chambers, A Concise Course In Advanced Level Statistics, Nelson Thornes Ltd, 2002 H. Mulholland J.H.G. Phillips, Applied Mathematics for Advanced Level, Butterworths 1969 http://archive.bio.ed.ac.uk/jdeacon/statistics/tress9.html

Report For The Child Protection Case Conference Social Work Essay

Report For The Child Protection Case Conference Social Work Essay This report is prepared for the use of a Child Protection Case Conference for the five members of the Jones family. The Jones family consists of Mark (25) And Sue (21) and their three children John (6), Emma (4) and David who is just 3 weeks old. The conference is being held to consider the extent to which the needs of John, Emma and David are being met, as also the risks to which they are exposed. With the Child Protection Conference being a meeting between the parents of children and the people from different agencies who know the family, this report aims to provide a brief detail of the family scenario and a reflective commentary on the family circumstances, suitably supported by the theoretical and practical knowledge of the author on the risks faced by the children and the framework chosen for such risk assessment. This introductory section is followed by a brief overview of the case, a reflective commentary and finally a summative section. 2. Brief Case Details The appendix to this report provides details about the family scenario and can be accessed by users of this report. To state very briefly, the Jones family has three children. John, the eldest child suffers from speech delays and is exhibiting behavioural difficulties at home and school. He demands individual attention and has tendencies for uncontrollable anger and physical violence with children as well as grownups. He has also exhibited delinquent behaviour and has been reported for shock lifting. Emma, the second child is good natured, loves going to school, has been assessed to be developmentally advanced and loves her father. David, the newly born is a premature child and is not in the best of health. It is difficult to feed him and he cries often. Mark Jones the father has a history of youth offence, criminal behaviour and domestic abuse. He has grown up in poor social and economic circumstances and is now working as a driver of heavy vehicles, a job that often keeps him away from home. Sue the mother, had her first child when she was 15 and suffered from post natal depression. Not in the best of health and having suffered from domestic abuse, she finds it difficult to take care of her three children. Whilst she comes from an affluent background, she has little contact with her parents, who disapprove of Mark. 3. Reflective Commentary Caring and protecting children is now at the very core of the social work system of the UK (Cleaver, 2004, p 14). Whilst the importance of protecting, nurturing and nourishing children and the need to provide them with appropriate environments for achievement of physical, emotional and mental development has always been felt to be important by policy makers in the UK, a number of episodes that have taken place over the years show that children continue to be exposed to various dangerous and need suitable protection. The deaths of Victoria Climbie and Aliyah Ismail in 2000 and 1998 (BBC News, 2005, p 1) created enormous media uproar and public outrage and led to numerous legal and policy measures that aimed to protect and safeguard children (Norton, 1999, p 1). The recent deaths of Baby Peter and Khyra Ishaq, who died in terrible circumstances, the first on account of violence at the home (Duncan, et al, 2008, p 1) and the second from starvation, revealed that children continue to be in danger and in need of protection and safety, both in and out of their households (Carter, 2010, p 1). Appendix 2 provides horrifying details on a number of children who experienced violence that resulted in serious injury and even death. I have, in these circumstances tried to synthesise the various legal and policy measures that are available in the UK for protection and safety of children as well as assessment of the risks to which they are exposed, for the consideration of the Child Protection Conference on the needs of the children of the Jones Family. The legislative framework for child protection in England and Wales is provided by the Children Act 1989, further amended by the Children Act 2004 (NSPCC, 2010b, p 4). The act defines harm as ill treatment or impairment of physical or mental health or physical, emotional, social, intellectual or behavioural development. The act also enshrines important principles. The paramountcy principle implies that the childs welfare should be paramount for decisions on his or her upbringing. The wishes and feelings of children should also be ascertained before the passing of any order (NSPCC, 2010b, p 4). All efforts should be made for preservation of the home and family links of children. The law also underlines the importance of parental responsibility in the bringing up of children (NSPCC, 2010b, p 4). A number of other acts like the Children and Young Persons Act 2008 and the Safeguarding Vulnerable Groups Act 2006 and the Domestic Violence, Crime and Victims Act 2004 also lay down the law on protection of children in different circumstances (NSPCC, 2010b, p 4). Apart from extensive legislation for safeguarding and protecting children, the government has introduced a series of policy measures after the death of Victoria Climbie and the publication of the Laming Report in 2003 (Department of Health, 2003, p 7). The Every Child Matters Programme details governmental policy for ensuring the safety, nourishment, growth and development of all children in the country (Department for Educationà ¢Ã¢â€š ¬Ã‚ ¦, 2005, p 4). The guidance Working Together to Safeguard Children: a Guide to Inter-Agency Working to Safeguard and Promote the Welfare of Children defines child abuse and neglect and provides guidance on the action that agencies should take to protect children. The Framework for the Assessment of Children in need and their Families provides guidance to professionals to identify children in need and ascertain the best possible ways of helping such children and their families (NSPCC, 2010a, p 3). The children in the Jones family are being currently challenged by difficult circumstances. Mark, the father has a job that keeps him away from home for long periods and he is thus not really able to help in household work or bringing up the children, except by financial support. He has a history of criminality and domestic violence. Even though it should be considered that he is undergoing an anger management programme in order to overcome his emotional instability. Sue, the mother is just 21 and has already had three children. She also has a history of post natal depression, which could possibly surface again after the birth of David, the youngest child who is not even a month old. Coming from an affluent family, with whom she is estranged for some years, she is obviously unused to the very difficult family circumstances in which she is placed and the responsibilities of a mother of three children. The chances of all three children being neglected is very high in these circumstance s, where the father is not at home most of the time and is trying to overcome his emotional instability and aggressive behaviour and the mother is prone to depression, physically tired and worn out and has been burdened with the responsibilities of caring for and bringing up three young children. The three children in the family face the real danger of physical and emotional neglect. Such neglect could specifically harm their physical, emotional and cognitive wellbeing and development, affect their performance at school, expose them to dangers of under nourishment and illness and severely affect their life chances (Howe, 2005, p 31). Neglected children are also more prone to truant behaviour and substance abuse. John the eldest child already suffers from speech problems, attachment disorders, attention seeking behavioural problems, uncontrolled anger and tendencies for violence. Such a situation could have arisen because of attention deficits in his early childhood years and greater attention being given to his younger sister by his father. John now poses a serious physical threat to his two younger siblings because of his rage and violent disposition. Emma and David are open to the risks of neglect, as well as physical harm. Whilst Emma is the favourite of the family and sha res very good relationships with her parents and may not therefore be exposed to neglect, the condition of the youngest child David is precarious. A premature child who is given to suffering from colic, David needs extra care, support and sustenance, which may clearly be beyond the ability and capacity of Sue, in her frame physical condition and her history of post natal depression. Apart from neglect, which could harm her physical and emotional development at a crucial period in her life, he also faces the threat of physical violence from John, who can well hurt him badly in a fit of rage, if his demands for attention are not met. I feel it to be very obvious that the three children in the Jones family are at considerable risk, all three from neglect and the younger two also from violence. The GIRFEC (getting it right for every child) model provides a new approach for identification and meeting of needs of children. The model places the wellbeing of children and provides a common framework for assessment, planning and intervention across all agencies (Lamey Rattray, 2009, p 2). Whilst the GIRFEC is a comprehensive model, it is specifically focused on taking the whole child approach, placing the child at the centre and keeping children emotionally and physically safe. Its ambit is thus broader than mere child protection (Lamey Rattray, 2009, p 2). It adopts a holistic view and an evidence based approach, wherein the participation and opinions of the child and parents are important for good outcomes. The model has three important components, namely the Wellbeing Indicators, My Word Triangle and the Resilience Matrix, which can be used both separately and together for finding the best solution for children in need (Lamey Rattray, 2009, p 2). The My Word Triangle in particular provides guidance to social workers on what children need from people who look after them. These include (a) everyday care and help, (b) keeping the child safe and (c) being there for the child. These three issues are specifically important for considering the circumstances of the three children of the Jones family (Lamey Rattray, 2009, p 2). 4. Summary and Conclusion This report has been prepared for the Child Protection Case Conference to consider the needs of the children of the Jones family, the extent to which they are being met and what more needs to be done to ensure the safety, development and growth of these children. Assessment of risk and ensuring safety of children is a vital element of current social work theory and practice in the UK. Extant legislation and programmes call upon social workers and other concerned agencies like the education and health services to work in close cooperation and collaboration with each other to ensure the safety and protection of children in need and at risk with the help of specific assessment frameworks, tools and processes. An application of the GIRFEC model reveals that the children of the Jones family could face difficulties on account of their parents not being able to provide adequate everyday care and help, keeping them safe and being there to ensure their physical and emotional care. These circu mstances become more ominous in light of the mothers frail health and past history of post natal depression, the frequent absence of the father from home on account of his work and the violent tendencies and behavioural problems of the eldest child. The conference must consider all these circumstances in order to appropriately assess the needs of the children and the extent to which they are being met and thereafter to plan for appropriate interventionist action. Bibliography BBC News, 2005, Climbie report urges childcare reform, Available at: news.bbc.co.uk/2/hi/in/uk//victoria_climbie/default.stm (accessed February 28, 2011). Birchall Hallett, C., 1995, Working together in Child Protection, London: HMSO. Bodley, A., Risk Assessment and Child Protection, Creative Minds, Available at: www.mylearning.org/learning/science/Child%20Protection.pdf (accessed February 28, 2011). Brandon, M., Howe, H., Dagley, V., Salter, C., Warren, C., 2006, What appears to be helping or hindering Practitioners in Implementing the common assessment Framework and lead, Professional working Child abuse Review, 15: 395-413. Carter, H., 2010, The tragedy of Khyra Ishaqs death, Available at: www.guardian.co.uk//khyra-ishaq-starving-death-background (accessed February 28, 2011). Cleaver, H., Walker, S., 2004, Assessing childrens needs and Circumstances, London: Jessica Kingsley. Department of Health, 2000, Assessing children in need and their families: practice guidelines, London: the Stationery office. Department of Health, 2003, The Victoria Climbie Inquiry report of an inquiry by Lord Laming, Available at: www.dh.gov.uk à ¢Ã¢â€š ¬Ã‚ ºÃ‚  Home  Ãƒ ¢Ã¢â€š ¬Ã‚ ºÃ‚  Publications (accessed February 28, 2011). Department for Education and skills, 2005, Every Child Matters, Green paper London: HMSO Duncan, C., Jones, S., Brindle, D., 2008, 50 injuries, 60 visits failures that led to the death of Baby P, The Guardian, Available at: www.guardian.co.uk//baby-p-child-protection-haringey (accessed February 28, 2011). Ferguson, H., 2004, Protecting children in Time: child abuse, Child Protection and Consequences of Modernity, London: Palgrave McMillan. Howe, D., 2005, Child Abuse and Neglect: Attachment, Development and Intervention, London: Palgrave Macmillan. Lamey, R., Rattray, M., 2009, The Shetland Guide to GIRFEC, GIRFEC Project Team, Available at: www.shetland.gov.uk/socialwork-health//1GuidetoGIRFEC.pdf (accessed February 28, 2011). Norton, C., 1999, The sad life, grim death and terrible betrayal of Aliyah, 13, independent.co.uk, Available at: www.independent.co.uk à ¢Ã¢â€š ¬Ã‚ ºÃ‚  News  Ãƒ ¢Ã¢â€š ¬Ã‚ ºÃ‚  UK  Ãƒ ¢Ã¢â€š ¬Ã‚ ºÃ‚  Home News (accessed February 28, 2011). NSPCC, 2010a, The child protection system in the UK, National Society for the Protection of Cruelty to Children, Available at: www.nspcc.org.uk/Inform//child_protection_system_wdf76008.pdf (accessed February 28, 2011). NSPCC, 2010b, An introduction to child protection legislation in the UK, National Society for the Protection of Cruelty to Children, Available at: www.nspcc.org.uk//child_protection_legislation_in_the_uk_pdf_wdf48953.pdf (accessed February 28, 2011). Unity Injustice, 2005, A Child Protection System so secret it Kills, Available at: www.unity-injustice.co.uk/child_victims.htm (accessed February 28, 2011). Wilson, K., James, A., 2007, The child Protection Handbook, London: Bailliere Tindall Ward, H., 1998, Using a Child development Model to assess the outcomes of Social Work Interventions with Families, Children and Society, 12 (3): 202-211. Appendices Appendix 1 Child Protection Case Conference Based on the Jones Scenario. (To consider to what extent the needs of John, Emma and David are being met). The Jones Family: background January 2010 The Jones family recently moved out of a council flat in city to small town rural area. They are struggling to pay the mortgage on their two bedrooms flat. There is no outside play area, and the flat is accessed via outside stairs. Mark Dad- 25 years old. Mark has a criminal record as a youth offender. He has a history of domestic abuse and is undertaking an anger management program. He is employed as an HGV driver. He has a large extended family. Marks background is working class with poor socio-economic circumstances. Sue Mum 21years old. At age 15 Sue had postnatal depression which was not recognized. She has a poor relationship with her own parents. They are very affluent; Sues mother continually expressed her disappointment in Sue when she was growing up and does not approve of her relationship with Mark. Sue has never worked she is pregnant with her third child. John Son (of Mark and Sue) 6 years old John has severe attachment issues. He is exhibiting behavioural difficulties and has a significant speech delay. He has been identified as requiring Additional Support for Learning. Emma Daughter (of Mark and Sue) 4 years old Emma is the favoured child. She is an easy child to care for and loves going to the nursery where it has been noted that she is developmentally advanced. She has a very good relationship with her dad. The Scenario: sequence of events Scenario January 2010 John starts at the local primary having transferred from a large school in the city. He is in a composite class of 5 and 6 year olds and he is one of the oldest. John has a significant speech delay. March 2010 Records for John have been requested from his previous school but have still to arrive. Meanwhile, his teacher, Mrs Smith is having difficulty managing Johns behaviour. He is very demanding of individual attention and if this is not forthcoming he becomes very angry. He throws things around the classroom and over the past two weeks has hit three younger children. He has also kicked his teacher. He has been reported for shoplifting and has been grounded by his parents for bad behaviour. His anger is exacerbated because he has difficulty in communicating. Additional information April 2010 David was born prematurely last month, and was small for gestational age. He is difficult to feed and is very colicky. He cries a lot and is now 3 weeks old. Following the birth of David, Mary the health visitor has visited the family home to offer support and advice to Sue. Sue present as tired, flat and listless. The house is disorganised. Sue tells Mary that David is a really difficult baby to feed and that he cries constantly. Mark cannot help as his job takes him away from the family home for extended periods of time. On the rare occasions he is at home, he is tired, irritable and sleeps a lot. The situation in the home is not helped by the constant demands of John. However Emma is co-operative happy and helps her mother around the home and with the baby.

An Analysis Of The Video Like A Prayer By Madonna :: essays research papers

An Analysis of the Video "Like A Prayer" by Madonna Madonna first arrived in the national popular culture in 1984 with her song "Borderline". She moved very quickly in the ensuing years to make several records (many of which have gone multi-platinum) and to take several world tours with sold-out concerts, and has caused quite a bit of controversy in what she has done in the public eye. Examples include posing nude for Penthouse magazine (and announcing afterwards that she was not ashamed for doing it), marrying (and subsequently divorcing) actor and media-avoider Sean Penn, creating a fashion trend (which was primarily popular with teenage girls), and making truly atrocious movies which the critics hated and the people refused to see (the only two exceptions are Dick Tracy and Truth or Dare, her controversial yet fascinating self-documentary about her tour of the same name). It seems that Madonna seems to enjoy attention, good or bad, and it seems like she feeds on her own controversy. Her songs, and the music videos which accompany them, are no exception to this. However, the things she does and the images she projects requests contemporary society to reflect on itself, and to possibly re-create itself in innovative and inventive styles. Perhaps she always breaks with convention because she sees things in a different light than the rest of society. This essay shall focus on the video which accompanies the title track from her 1989 album, "Like A Prayer," which certainly had its share of controversy. Probably the most startling image in the music video was that of several burning crosses on a lawn or a hill. These crosses were in the background, while Madonna was facing the camera and singing. When I saw the music video for the first time, this particular section of the video made me sit up and intently watch my television screen. The first things I thought about were, "She's a very outspoken woman for doing this! Boy, she's got a lot of nerve! I believe she was raised Catholic, and she's making a mockery of the Catholic Church by doing so! The Pope would be offended, to say the least!" The radical approach to dispose of any religion (or a person's religious or pious fervor) is at least shocking. The cross is the symbol of Christianity and all it stands for. Seeing the cross engulfed in fire -- which symbolizes (and is) a destructive force -- would be very disturbing for anyone to see, Christian or not. I sat up and took notice, and I'm not even Christian -- I am Jewish. Furthermore, the fact that

Free Great Gatsby Essays: Philosophic and Political Contexts :: Great Gatsby Essays

The Great Gatsby: Philosophic and Political Contexts Attempting both a sustained close reading of the novel, and the relocation of that reading within wider philosophic and political contexts, one must therefore consider the impact of a broad mystical strain of Western thought upon Fitzgerald's political analysis. For while it is a commonplace that Fitzgerald was fascinated, throughout his life, with what is variously conceived as the "ideal," "the Dream," "inspiration," the "visionary," or "Desire," a tradition with which the book opens, the political uses of the ideal have largely escaped notice. It seems hard to believe in our period, when a three-decade lurch to the political Right has anathematized the word, but F. Scott Fitzgerald once, rather fashionably, believed himself to be a socialist. Some years before, he had also, less fashionably, tried hard to think himself a Catholic. While one hardly associates the characteristic setting of Fitzgerald's novels, his chosen kingdom of the sybaritic fabulous, with either proletarian solidarity or priestly devotions, it is clear that a tension between Left and religiose perspectives structures the very heart of the vision of The Great Gatsby. For while Gatsby offers a detailed social picture of the stresses of an advanced capitalist culture in the early 1920s, it simultaneously encodes its American experience, at key structural moments, within the mitigating precepts of a mystic Western dualism. Attempting both a sustained close reading of the novel, and the relocation of that reading within wider philosophic and political contexts, one must therefore consider the impact of a broad mystical strain of Western thought upon Fitzgerald's political analysis. For while it is a commonplace that Fitzgerald was fascinated, throughout his life, with what is variously conceived as the "ideal," "the Dream," "inspiration," the "visionary," or "Desire," a tradition with which the book opens, the political uses of the ideal have largely escaped notice. Fitzgerald's excitably visionary sensibility, nourished in high school years by Catholic mysticism, fashioned him into a superbly perceptive critic of the appropriation of human need of the ideal by developments in American capitalism in the 1920s. In response to economic crisis in the early years of this decade, the national advertising media developed and promoted a new cult of glamour, seeking through its allure to create a mass consumer market and revivify the foundering work ethic. Fitzgerald's entrancement by the suggestive power of beauty sensitized him both

History Harley Davidson

In 1903, William Harley-Davidson, Arthur Davidson, Williams Davidson, and Walter Davidson started Harley-Davidson in a 10Ãâ€"15 shed in their backyard in Milwaukee, Wisconsin. Production started with three motorcycles in 1903 and increased to 8 in 1908. In 1969, AMF Incorporated acquired Harley-Davidson Motor Company and expanded capacity from 15,000 to 40,000 motorcycles. Harley-Davidson, Incorporated was formed in 1981, when it was purchased from AMF Incorporated in a management buyout. In 1986, Harley-Davidson, Incorporated became a publicly held company. The new management installed a just-in-time inventory system to reduce inventories and improve total quality. With a new quality focus Harley-Davidson began to invest heavily in research and development. In one year the new Harley-Davidson management reduced the break-even point by 18,000 motorcycles. Management's focus on efficiency in production and improvements in quality resulted in increased demand and a production capacity of 100,000 motorcycles in 1995. Harley-Davidson operates in two segments Motorcycles and Related Products, and Transportation and vehicles segment. Total net sales for the first nine months of 95 were $1.3 billion, an increase of $174.1 million from the first nine months of 1994. Net sales increased in both the Motorcycles segment and the Transportation Vehicles segment. Demand for motorcycles is continuing to increase at a rate faster than supply for most of the markets in which Harley-Davidson competes. Parts and Accessories market should grow at a rate similar to the annual growth in motorcycle market. From its beginning in a shed at turn of the century, Harley-Davidson has survived the Great Depression, two world wars and a manufacturing revolution to become a company with products so valued and sought after that they are a way of life for many owners (Wheelen). Organization†s Vision, Mission, and Objectives The Harley-Davidson's vision is as follows: â€Å"Harley-Davidson, Incorporated, is an action-oriented, international company-a leader in its commitment to continuously improve the quality of profitable relationships with stakeholders (customers, dealers, employees, suppliers, shareholders, government, and society). Harley-Davidson believes the key to success is to balance stakeholders' interests through the empowerment of all employees to focus on value-added activities.† Harley-Davidson's mission statement is as follows; â€Å"We fulfill dreams through the experience of motorcycling, by providing to motorcyclists and to the general public an expanding line of motorcycles and branded products and services in selected market segments†(Harley-Davidson Home Page). The mission statement shows that the focus of the organization is on customer satisfaction and growth. Harley-Davidson's statement of company philosophy contains a separate list of the values of the organization. The values listed in this statement are, â€Å"Tell the Truth, Be Fair, Keep your Promises, Respect the Individual, Encourage Intellectual Curiosity†(Values). The objectives of the both the Motorcycle and Transportation Segments are listed below:  · Double production capacity to 200,000 motorcycles annually by 2003.  · Increase the number of women who purchase motorcycle-riding apparel.  · Gain entry in to the performance motorcycle industry and increase the sales of the newly acquired Buell Motorcycle Company.  · Increase international market share by increasing the number of foreign dealers and improving the foreign channels of distribution.  · Increase the availability of credit and lower the cost of credit for both the retail customer and the Harley Davidson Dealer.  · Improve customer satisfaction and improve communication with European stakeholders by increasing dealer service competencies. Mr. Richard Teerlink age 59 joined Harley-Davidson in 1981 and was elected to the board of directors in 1982. In 1988 he was appointed President, and he was named Chief Executive Officer in 1989 (Wheelen). Mr. Teerlink is also on the Boards of Directors of Johnson Controls, Incorporated and Snap-On Incorporated (Rethinking Leadership). Mr. Teerlink has been the leader in developing a value-based culture at Harley. His focus is on the importance of establishing mutually beneficial relationships with all of stakeholders has served the company well in the past. Teeklink believes that top management is responsible for creating an operating environment that can allow continual learning (Harley Davidson Home Page). Unlike the traditional executive leader who is focused on structure and strategy, Teerlink thinks about the operating environment in less tangible ways. Teeklink has a quality focus and has initiated a just in time inventory system along with a value-added approach to manufacturing (Wheelen). In addition to the focus on a quality product, Teeklink is also focused on growth and corporate governance, which is reflected in the company†s vision. In a speech at Yale University Teerlink said that, â€Å"the Motor Company expects its market share to be bolstered by increased production in the next few years. Teerlink stated the company expects to produce 200,000 units annually by the year 2003, compared to about 100,000 in 1995. Teerlink added in his speech, â€Å"We have not found any reduction in the demand for Harley-Davidson,†. He said the Milwaukee firm had close to 50 percent of the 651cc-and-above U.S. motorcycle market. Teerlink also said that almost 30 percent of the company's motorcycles are traditionally sold outside the United States. â€Å"Harley-Davidson seeks a patient and careful approach to overseas expansion. It's our intention to be very successful in all markets,† Teerlink added. â€Å"We are taking time to develop markets, rather than just going in and putting a dealer on every corner and have them sell motorcycles. Because we're capacity-constrained, we've been losing some market share, but we're not losing market share because people don't want to buy our product.† According to Teerlink, Harley-Davidson now has distributors in Peru, Singapore, Indonesia, South Africa and other emerging markets. He said Harley-Davidson had no immediate plans to diversify beyond its traditional strength in large-displacement motorcycles. Teerlink also noted that women now make up about eight percent of new Harley-Davidson buyers, as opposed to only two percent in the past (Online Magazine).

Remembering Event

I remember that day very clearly. It was Halloween October 31, 2003. It was a school day, a long school day as I recall. It was a long day because the next day was important for me; I had the SAT test and my very last home volleyball game. It was my senior night. I was in frenzy all day. I remember English class and my teacher returned my â€Å"About You† essay. I read over it one last time to see how I scored, and was glad to receive an A on the paper. I read the part about my best friend, Ginny Blackburn. I remember writing about some of our childhood memories and games. I read the paper with a smile on my face. I thought about Ginny for a moment because we had always spent Halloween trick-or-treating together. Like last year, we weren’t going to this year either. I thought about how far apart we had grown in the past few years. I always had that on my mind. I remember as I was on my way to class, I saw Ginny walking down the hall in my direction. When we came close to each other, I smiled at her. She didn’t seem to notice. I didn’t even say ‘hello. ’ I will always regret not saying hello to her that day. That night I watched a movie with a couple of girl friends. I ended up going home early because I was a little worn out and knew tomorrow was a big day. I crawled into bed as soon as I got home. I remember that I didn’t sleep well that night; my mind was racing. Eventually, I must have fallen asleep because the phone call at exactly 2:00 in the morning startled me. My mom ran down stairs to get it. I heard that tone in her voice that you hear when something is very wrong. I thought first of my grandma. I could tell by her voice something bad had happened. I felt a knot in my stomach and my eyes started to burn. She came upstairs past my room, but I asked her what had happened. She told me that the phone call was from Tammy, Ginny’s mom. She called to ask for prayers because there has been a terrible accident. Ginny and her boyfriend, David, were in it. My mom told me that David didn’t make it. I didn’t know David very well. She told me Ginny was seriously injured and had to be flown to a hospital in Kalispell. She told me to stay in bed. I didn’t say anything. I wouldn’t believe it and I couldn’t comprehend it. The accident was a few miles away from our house and Tammy had been the one to find it. My mom went to help. I remember hearing the helicopter drive over my house and back again as I prayed to God over and over again. I cried in my bed feeling lost and helpless. The next day was tormenting. In fact, the whole next week was the worst of my life. The doctors gave Ginny a twenty percent chance of living. Those chances just weren’t good enough for me. It was a difficult time for me, but I tried hard not to show it in school. I let my pain go only when I was alone. Tammy called us often to let us know if it was a good day or a bad day for Ginny. In the car accident, Ginny had hit her head and most of the damage was in her brain. I didn’t get to see her until the next weekend. It is almost as if I didn’t realize what had happened until I saw her. She was under an induced coma. She looked very different. Her face was puffy and bruised. There were a lot of tubes going in every direction. It felt strange to see her in that bed. I got to hold her hand and talk to her, but couldn’t stay for very long. I went back to Kalispell to see Ginny every weekend. She was in a coma for a whole month and didn’t give much response. It was great news when she gave signs of reaction. Eventually, she started to open her eyes, but we couldn’t really tell if she saw us. I got to read to her and talk to her more often. Every week there were huge signs of recovery. She was clearly getting better and better every day. I know that God was there for Ginny in that hospital. She had many prayers for her and her family. She was moved to intensive care and later, from intensive care to rehab. In the hospital, Ginny was known as the miracle child. She beat the odds and did it in style. Ginny was expected to have a metal plate put in her head and to have her sinuses rebuilt, but it all healed perfectly on its own. I remember when she could finally smile. It was uplifting to everybody. When the doctors thought Ginny was ready to communicate they told her to give a thumbs up for yes and a thumbs down for no. She surprised them when they asked her if she understood by shaking her head yes. Ginny is definitely a miracle child. During those difficult months for her in the hospital, she relearned how to do everything. The day she came home was very likely one of the happiest days of her life. She was so excited to come home and we were all excited to have her come home. That week when I did not know whether my best friend, the friend who I grew up with, would make it, was very hard for me. I know that having Ginny in the hospital was one of the most difficult times I will ever have to face. I am there for Ginny now. We spend time doing things together. Life throws curves and you have to go with them. I am going to be by her side through her recovery and after. Though Ginny is the one who has gone through such an extreme difficulty, I would like to think that I was there and will be there to help her overcome it.

Established Strategy for Leadership Essay

Leadership, as defined in the book Leadership Challenge (1995), is a set of practices that is observable and learnable. It is not something mystifying and sublime by which common and ordinary people cannot understand. If a person is bestowed with an opportunity for feedback and practice, and has the desire to lead and to make a difference, he can considerably develop his abilities to do so (Kouzes and Posner 1995: iv) and be a leader. On the contrary, strategy is a plan of action which results from the intended and determined to achieve a specific goal (Farlex 2009). There are a lot of known leaders in the world because they make a change and a difference. They are pioneers for a certain movement that, for instance, bring peace and freedom in their land. Or sometimes, they are the reasons why their company has been saved from bankruptcy or collapsed. There may be a myriad of well-known people in the realm of leadership and yet, anyone, even in their own little ways can be a leader and can definitely be called as leader. One of the leaders whom I know is the vice-president of a women’s organization. She is a scholar and a consistent honor student since her freshman in college. She may not be that famous in the whole university but she does exist. The organization where she belongs is already out of number and their President has not showed up since she is not currently enrolled thus she does not have the privilege to rule and to take a lead in the organization. Definitely, being the vice president in the roster of officers means that she has to carry out all the responsibilities of the president. Presently, the organization is composed of ten members: seven of them are members of the Executive Committee, where faction exists due to political reasons and belief. Being the vice-president, who needs not be biased with the existing division in the group, how did she manage to merge the faction, to increase the number of their members and to carry out all their organizational activities with a limited number of cooperating people? Being in the position, she has the power to lead the members. In order to comprehend the nature of leadership, one must understand the essence of power, because leadership is a special form of power (Burns 1978:12). The way she exercises her power as a vice-president as well as a president has something to do with her motives and resources—her goal for the organization and for her members. According to Burns, motives and resources are two vital factors of leadership for they are interrelated. If a person lacks motive, the resource diminishes. If one lacks resource, motive becomes idle. Thus, lacking either one, power subsides and disintegrates (1978: 12). On the other hand, the faction in the group has something to do with politics, the essence and exercise of power. If the past leaders of the organization have used their power for self-interest and dominance in the group, the current vice-president is different. She just manages and organizes meetings, as well as ideas. But those ideas, for example, for a certain activity that needs to be carried out, come from the members of the group. Everyone is entitled to speak out and to share their thoughts. There might be a division in the proposed ideas, but definitely, those propositions that are not chosen, are still in line for possible alternatives if the chosen proposal has not worked out. On the contrary, the decision-making in the organization is put into action by means of votes and quorum. Everyone is entitled to cooperate. If there are oppositions, those oppositions will be heard. The demands with her as the leader of the group may seem high, but she has achieved to manage all the predicaments because in everything she does, she is driven by her motivation to uplift the organization. Her enthusiasm with her work and responsibility has spread among its members that definitely help in the cooperation; the faction in the group has disintegrated, and thus, the recruitment of members has been done. Definitely, the members have increased its number. Furthermore, whoever the next leader that will be elected, she is certainly been defied to do her best and to rule for her members and for the organization, not for her self-interest and fulfillment, but for the group. List of References: Burns, J. (1978) Leadership. New York: Harper Torchbooks. Farlex (2009) The Free Dictionary. [online] available from http://www. thefreedictionary. com/strategy. Kousez J. and Posner, B. (1995) An Instructor’s Guide to the Leadership Challenge. New York: Jossey-Bass Publisher.

Gainesboro Machine Tools Corporation Essay

Kendle International Inc. We looked at the competitive landscape and, based on what was happening, knew we were either going to sell Kendle, grow or disappear. It was May 1997, and Candace Kendle, the chairman and chief executive officer of Kendle International Inc. (Kendle), and her husband Christopher C. Bergen, the president and chief operating officer, were reviewing the strategic options for their Cincinnati, Ohio based company. Kendle, a business they had founded over 15 years previously, conducted clinical trials for pharmaceutical and biotechnology companies to test the safety and efficacy of their new drugs. The company had grown successfully to $13 million of sales and had attracted significant business from major pharmaceutical and biotechnology companies. Kendle was competing, however, with several larger contract research organizations (CRO), many of which had an international presence that allowed them to do clinical studies outside the United States and gave them an advantage when competing for major projects. To compete more effectively, Candace and Chris had embarked on a plan to grow through acquisition, particularly internationally, and to finance this growth through a public offering of equity. Toward this end, by the spring of 1997 Kendle had lined up two potential European acquisitions—U-Gene, a CRO in the Netherlands with 1996 sales of $12.5 million, and gmi, a Germanbased CRO with $7 million in sales. To finance these acquisitions, Kendle had worked out possible debt financing with Nationsbank and was working with two investment banks on an Initial Public Offering (IPO) that would repay the bank debt if successful and provide the equity base for future acquisitions. It was now time to decide whether to go ahead with the full program of two acquisitions, a large debt financing and an equity issue. Kendle History Candace and Chris met in 1979 while working at The Children’s Hospital of Philadelphia. Candace had received her doctorate in pharmacy from the University of Cincinnati, then taught in North Carolina and Pennsylvania. Her scientific specialty was virology. At the Children’s Hospital, Candace was serving as the director of pharmacy, working as an investigator on a study of an antiviral drug for the pharmaceutical company Burroughs Wellcome. Chris, a Wharton MBA, was a senior administrator at the hospital. Research Associate Indra A. Reinbergs prepared this case under the supervision of Professors Dwight B. Crane and Paul W. Marshall as the basis for class discussion rather than to illustrate either effective or ineffective handling of an administrative situation. Copyright  © 2000 by the President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to http://www.hbsp.harvard.edu. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of Harvard Business School. 1 Looking for something new, Candace and Chris began to discuss the idea of going into business together. One day in early 1981 Candace received an unexpected visit from a new physician, replacing the usual medical monitor for her project with Burroughs Wellcome. This physician was a pioneer in the  contract clinical research business. As he described how his business worked, Candace became more and more intrigued. When he left that day, she immediately called Chris and said, â€Å"I’ve got a business idea!† The concept was to set up a small research consulting firm that would take on outsourced research and development (R&D) work on a contract basis from large pharmaceutical and biotechnology companies. Based on the positive response she received from potential clients, Candace left her job at the hospital in June 1981 and Chris left his job in December 1981. Kendle International Inc. was incorporated in Cincinnati, Ohio in 1981, with Candace taking 55% of the shares, and Chris 45%. Candace had strong ties to the Cincinnati area. Her grandfather, a coal miner, had moved there from Appalachia, and the clan had grown to about 140 members, including Candace’s two sons from a previous marriage. By January 1982, Candace and Chris were working from Candace’s parents’ home. Kendle started as a small company with a few contracts, and business grew slowly through referrals from professional colleagues. Kendle suffered the usual bumps of a start-up business, particularly in the late 1980s when it suffered a loss for two years and ran up $1 million in bank debt on a $250,000 line of credit. Afraid that its bank would call the loan, the company went through a bankruptcy scare. Fortunately, Kendle succeeded in attracting business from a new client, the pharmaceutical company G.D. Searle & Co. (Searle). By the early 1990s, the company was turned around and it generated annual sales of about $2.5 million. Candace and Chris were married in 1991. The Pharmaceutical Lifecycle The clinical research process was influenced by government regulations that required drugs to pass through a series of steps before they could be marketed for public use. In the United States, the Food and Drug Administration (FDA) regulated pharmaceuticals. To receive FDA approval, a drug had to meet safety and efficacy standards for a specific indication (medical diagnosis). A drug for hypertension, for example, would have to lower blood pressure by a certain statistically significant amount without  producing unacceptable side effects. The entire FDA approval process could take from 8 to 15 years and involve several thousand patients.1 After a pharmaceutical company discovered a new drug and completed pre-clinical testing on animals in the laboratory, an Investigational New Drug application was filed with the FDA. The drug then passed through three phases of clinical testing on humans. Before beginning each subsequent phase, the drug company had to submit additional regulatory information to the FDA. Phase I Phase I studies were primarily concerned with assessing the drug’s safety. This initial phase of testing in humans was done in a small number of healthy volunteers (20 to 100), such as students, who were usually paid for participation. Phase II Once Phase I testing had proven the drug’s safety, Phase II tested its efficacy in a small number of patients (100 to 300) with the medical diagnosis. It was specifically designed to determine the likely effective dose in patients. Phase III In a Phase III study, the drug was tested on a larger patient population (1,000 to 3,000) at multiple clinical sites. The purpose was to provide a more thorough understanding of the drug’s effectiveness, benefits, and the range of possible adverse reactions. Most Phase II and Phase III studies were blinded studies in which some patients received the experimental drug, while control groups received a placebo or an already approved drug. Once a Phase III study was successfully completed, a pharmaceutical company requested FDA approval for marketing the drug by filing a New Drug Application, which averaged about 100,000 pages. †¢ 200-033 Phase IV Post-marketing testing (of at least 300 patients per trial) was sometimes conducted for high-risk drugs to catch serious side effects (liver toxicity) and monitor them for long-term effectiveness and cost-effectiveness. The pharmaceutical companies traditionally designed and conducted their own clinical trials. They selected the research sites and recruited investigators to conduct the trials of the new drug. Investigators were often medical school professors at teaching hospitals, but they could also be professional investigators who conducted clinical trials at dedicated centers or occasionally regular physicians who ran trials, particularly Phase IV trials, out of their private practices. These investigators then recruited patients, sometimes with the help of the pharmaceutical company, to participate in the study. After patients were recruited, there was a considerable amount of data collection by the investigators, monitoring of the process and data retrieval by the pharmaceutical company, and analysis of the data to determine whether the statistical criteria for safety and efficacy were met. Finally, there was the complicated process of compiling the data and preparing the long report for the FDA. The Contract Research Business In the 1970s, large pharmaceutical concerns in the United States began to look for ways to outsource their clinical testing work as their R&D budgets grew. At the beginning, contract research was a small cottage industry and the work was awarded on a piecemeal basis. As Chris recalled, â€Å"For years, there had been companies conducting animal testing and Phase I, but there was no one managing the entire research and development process. The acronym ‘CRO’ (contract research organization) did not exist, pharmaceutical companies gave out only small contracts, and did not have much confidence in for-profit research managers.† The growth of the CRO industry was stimulated by pricing pressures on drug companies that led them to try to transfer the fixed costs of clinical research into a variable cost through outsourcing. As Chris described, The general problem that drug companies face is balancing a variable workload with a fixed workforce. The problem is that you don’t know when the guy in the white lab coat will come running down the hall, beaker in hand, shouting, ‘Eureka, I’ve got it, it’s going to cure disease X’. When he does that, you know your workload is going to spike. Your workload is impacted by the rate of discovery, the number of projects killed in vitro and, subsequent to that, how many studies get cancelled due to safety or efficacy problems in human testing. Pure CROs like Kendle derived their income solely from the outsourced portion of the R&D budget of pharmaceutical clients. In theory, any part of the clinical testing process could be outsourced. While most pre-clinical discovery was conducted in-house by drug companies, the trend in the 1990s was for CROs to receive contracts to manage the entire clinical research piece, especially 3 Phases II and III. The whole process was an incredible race against time, as every day for which FDA approval was delayed could cost the pharmaceutical client over $1 million in lost revenues. Pharmaceutical contracts ranged in duration from a few months to several years. For multi-year contracts involving clinical trials, a portion of the contract fee was paid at the time the trial was initiated, with the balance of the contract fee payable in installments over the trial duration, as performance-based milestones (investigator recruitment, patient enrollment, delivery of databases) were completed. Contracts were bid by CROs on a fixed-price basis, and the research was a labor-intensive business. The contract bids depended on careful estimation of the hourly labor rates and the number of hours each activity would take. The estimation process involved statistical algorithms, which took into account the length of the study, frequency and length of site visits, the number of sites involved, the number of patients involved, and the number of pages per report form. A premium would be added for more complicated therapeutic testing. As the chief financial officer Tim Mooney described the business, The way that Kendle makes money is like any professional service firm—We focus on maximizing labor utilization, especially at the operational level. We assume a 65% to 70% utilization rate, so profit margins are higher if we have a higher utilization rate of personnel. We have the same assumed profit margin on all levels of people, but we can charge higher rates for contracts where we have specific therapeutic expertise that is in demand. Margins can also be higher on some large projects when we can share overhead costs across more sites. The business of contract research entailed several types of business risk. With contracts running at an average of $1 million for companies of Kendle’s size, client dependence was a major risk. Project cancellation by the client and â€Å"change orders† to reduce project costs were also increasingly frequent in the CRO industry, as healthcare cost pressures intensified. On the other hand, product liability for medical risks was borne by the pharmaceutical company. Competition in the 1990s By the mid-1990s, contract research had evolved into a full-service industry, recognized by both the pharmaceutical/biotech industries and the financial community. In 1995, worldwide spending on R&D by pharmaceutical and biotechnology companies was estimated at $35 billion, with $22 billion spent on the type of drug development work that CROs could do. Of the $22 billion, only $4.6 billion was outsourced to CROs in 1995. While R&D spending by pharmaceutical companies was growing at 10% a year, CROs were growing at twice that rate.2 Specialized CROs could manage increasingly complex drug trials—in the previous decade, the number of procedures per trial and average number of patients per trial had doubled—far more efficiently than their pharmaceutical clients.3 Kendle participated in this growth in clinical research. Its net revenues grew 425% from $2.5 million in 1992 to $13 million in 1996. From a loss of $495,000 in 1992, its net income rose to $1.1 million by 1996. By 1996, Kendle had conducted clinical trials for 12 of the world’s 20 largest pharmaceutical companies. Kendle’s three largest clients were G.D. Searle, Procter & Gamble, and Amgen, which generated 48%, 19%, and 13% of Kendle’s 1996 revenues, respectively. (See Exhibits 1 and 2 for Kendle’s income statements and balance sheets.) 2 J.C. Bradford & Co., analyst report, January 15, 1998, pp. 5-6. 3 The Economist, â€Å"Survey of the Pharmaceutical Industry,† February 21, 1998, p. 4.200-033 The contract research industry was very fragmented, with hundreds of CROs worldwide. In the 1990s, in response to the increased outsourcing of pharmaceutical R&D, and a demand for global trials, consolidation among the CROs began. A few key players emerged and went public, creating a new industry for Wall Street to watch. Many CRO start-ups were founded by former drug company executives who decided to form their own operations. After a period of internal growth, some of the start-ups began growing through a financial â€Å"roll-up† strategy. An industry publication listed 18 top players in North America, with total contract research revenues of $1.7 billion. The top five public companies, ranked by 1996 revenues, were Quintiles Transnational Corp. ($537.6 million), Covance Inc. ($494.8 million), Pharmaceutical Product Development Inc ($152.3 million), ClinTrials Research Inc. ($93.5 million), and Parexel International Corp. ($88 million).4 (See Exhibit 3 for recent sales and p rofit data on CROs.) With its talent pool of scientists at the Research Triangle and U.S. headquarters of the pharmaceutical giants Glaxo and Burroughs Wellcome (later merged as Glaxo Wellcome), the state of North Carolina quickly became the center of the burgeoning CRO industry. Two of the â€Å"big five† companies, Quintiles and Pharmaceutical Product Development, were started there by academic colleagues of Candace’s. Quintiles Transnational was considered to be the †gold standard of the industry.† Quintiles was founded in 1982 by Dennis Gillings, a British biostatistician who had worked at Hoechst and was a professor at the University of North Carolina, where Candace completed her postdoctoral work. After raising $39 million in a 1994 IPO, Quintiles went on an acquisition spree, adding other professional service businesses. For example, the firm provided sales and marketing services to support the launch of new drug products. By the end of 1996, Quintiles was the worldâ€⠄¢s largest CRO, with 7,000 employees in 56 offices in 20 countries. A typical clinical study managed by Quintiles was conducted at 160 sites in 12 countries, involving 10,000 patients. Quintiles was more diversified than many of its CRO competitors, with about 65% of revenues derived from the  core CRO business and 35% from other services.5 Pharmaceutical Product Development (PPD) was founded in 1989 by Fred Eshelman, a colleague of Candace’s from the postdoctoral program in pharmacy. Like the founder of Quintiles, Eshelman had worked in drug research for several pharmaceutical firms, including Glaxo and Beecham. PPD’s revenues jumped 500% between 1990 and 1994, based on such work as multi-year contracts for AIDS research for the National Institutes of Health. PPD conducted a successful IPO in March 1996, with its stock jumping from $18 per share to $25.50 per share on the first day of trading. PPD bought a U.K. Phase I facility in November 1995, and in September 19 96 merged with another leading CRO. Their combined net revenues exceeded $200 million. Kendle at the Crossroads To Candace and Chris, it was clear that certain competitive capabilities were necessary for companies of Kendle’s size to compete successfully with the major CROs: therapeutic expertise (in specific medical areas) broad range of services (pharmaceutical companies wanted to work with fewer CROs, with each offering a wide range of services across multiple phases of the R&D process); integrated clinical data management (the ability to efficiently collect, edit and analyze data from thousands of patients with various clinical conditions from many geographically dispersed sites); 4 â€Å"Annual Report: Leading CROs,† R&D Directions, September 1997, pp. 28+. 5 William Blair & Co. LLC analyst report, Quintiles Transnational Corp., June 20, 1997, p. 3. international, multi-jurisdictional presence (to speed up drug approval, tests were being launched in several countries at once); With the exception of international presence, Candace and Chris felt comfortable with their ability to meet these criteria. Kendle’s staff had scientific expertise in multiple therapeutic areas, including cardiovascular, central nervous system, gastrointestinal, immunology, oncology, respiratory, skeletal disease and inflammation. The company also had broad capabilities, including management of studies in Phases II through Phase IV. It did not consider the absence of Phase I capabilities to be an issue, since this activity was quite separate. (See Exhibit 4 for a comparison of CRO geographical locations.) To build an integrated clinical data management capability, Chris had directed the development of TrialWare ®, a proprietary software system that allowed global data collection and processing and the integration of clinical data with clients’ in-house data management systems. TrialWare ® consisted of several modules including a database management system that greatly reduced study start-up costs and time by standardizing database design and utilizing scanned image technology to facilitate the design of data entry screens, the point-and-click application of edits from a pre-programmed library, and workflow management (parallel processing). Other modules included a system that coded medical history, medication and adverse event data and a touch-tone telephone system that was used for patient  randomization, just-in-time drug supply and collection of real-time enrollment data. Against the backdrop of a changing industry, Candace and Chris felt the need to develop additional business skills and focus Kendle’s strategy. To clarify their management roles, Candace and Chris switched their existing responsibilities. Chris pointed out, â€Å"Candace became CEO as we realized that her focus was long-range and I took over as Chief Operating Officer to focus on the short-range. In addition, the marketing strength of our competitors was propelling them further and further ahead of Kendle. Candace brought her science background and entrepreneurial skills, while I brought my management. The problem was that we were relatively weak in sales and marketing.† To broaden their skills, Candace went off in 1991 to the Owner/President Management Program (OPM), an executive education program run by Harvard Business School for three weeks a year over three years. Chris followed her to OPM in 1994. After completing the OPM program, Candace assessed the situation, We have to be big enough relative to our competitors to take on large, international projects. When Searle was looking for CROs for international work, all we could do was possibly subcontract it out to small shops. In contrast, Quintiles had six overseas offices of its own. Furthermore, when Searle calls and says, ‘I just got off the phone, Quintiles will cut their price by a million dollars,’ if you’re too small, you’re not going to be able to respond to that. Candace and Chris realized that Kendle could not grow fast enough internally to keep up with its peers and did not have the cash for acquisitions. They entertained the thought of selling Kendle, and were approached several times about a sale. But by nature, they were a competitive, athletic couple. Chris got up to play squash every morning at 7 AM, and Candace was an avid rower, recently winning a gold medal in a Cincinnati regatta. Perhaps not surprisingly, Candace and Chris decided to grow the firm and take it public rather than sell. As Candace described their motivation, â€Å"We were not driven to be a public company as such, but primarily to be bigger, and for this, we  needed public financing to succeed in the new competitive landscape. The whole target was not to let the big guys get too far out ahead of us.† Preparations for Growth By 1994, Kendle had grown to $4.4 million in revenues. Candace, the driving force throughout the IPO process, sought advice from an old college friend, a well-known Cincinnati businessman. He advised her, â€Å"before you go public, practice being a public company.† Candace therefore formulated a plan for Kendle to go public in 1999. Kendle began hiring key managers to build up functional units. Between 1994 and February 1997, new directors of clinical data management, information technology, biostatistics, finance, mergers and acquisitions, regulatory affairs, and human resources were hired. As Chris described, â€Å"the plan was to put this infrastructure in place to look and act like a public company— communications, IT, finance. The idea was hire at the top and they’ll fill in their organization.† Many of these new managers had previously worked together at other companies. To prepare for Wall Street scrutiny, Kendle began issuing internal quarterly fi nancial statements and sharing them with employees in an open-book management style. Candace and Chris tried to make the growing number of employees feel like â€Å"part of the family† in other ways, too. The Kendle â€Å"photo gallery† displayed professional portraits of employees with their favorite hobbies. In 1995 Chris led the development of a corporate mission statement and a document on strategic plans that was shared with all employees. Kendle was organized in a matrix fashion (see Exhibit 5 for organizational chart). Each department was treated as a strategic business unit (SBU) with a director who established standards and carried profit responsibility. At the same time, each research contract was managed by a project manager who assembled a team from across the various SBUs. Clinical trials involved five functional SBUs at Kendle: 1. Regulatory Affairs recruited investigators, helped them with FDA registration forms, and obtained approval from ethics boards. Regulatory Affairs maintained a database of 5,000 investigators. 2. Clinical Monitoring sent clinical research associates (CRA) out to the testing sites (every 4 to 6 weeks) to enforce Good Clinical Practice regulations. The CRAs were typically young, single health care professionals who spent a significant amount of their time on the road. The CRA would collect data from investigators, resolve queries generated by Clinical Data Management, and promote patient enrollment. 3. Clinical Data Management produced a â€Å"locked† database that could be submitted to the FDA. Data from case report forms were input into a computer system and â€Å"cleaned† through a manual review of the forms and an automated check of the databases. The challenge was to lock a database quickly while maintaining data quality. 4. Biostatistics would â€Å"unblind† the locked database and analyze it to determine if the data confirmed that the test results met the criteria for safety and efficacy. Biostatistics also defined the scope of new studies. 5. Medical Writing generated â€Å"the truckload of paper submitted to the FDA† for a New Drug Application, including a statistical analysis, a clinical assessment, preclinical and clinical data, a description of the manufacturing process, and the supporting patient documentation. 1996: The Celebrexâ„ ¢ Study, Filing Preparations, and European acquisitions 1996 was a busy year for Candace, Chris, and Kendle’s new management team. They simultaneously began conducting a major drug study, working with underwriters on IPO preparations, and looking for overseas acquisition targets. In 1996 Kendle managed 62 clinical studies at 4,100 sites involving approximately 20,000 patients. Celebrexâ„ ¢ Study In January 1996, Kendle began working on a major drug called Celebrexâ„ ¢ (celecoxib). Its client Searle was engaged in a neck-and-neck race with Merck, the largest U.S. drug company, to be the first to market a COX-2 inhibitor. A COX-2 inhibitor was a new type of anti-inflammatory drug that promised low incidence of bleeding ulcers in long-term, high-dosage users such as arthritis patients. The Searle-Merck race was closely followed in the business press. Searle awarded the international portion of the Celebrexâ„ ¢ contract to another CRO, since Kendle only had facilities for testing in the United States. However, Kendle did win the contract to conduct all the U.S. Phase II and III trials. The Celebrexâ„ ¢ contract was a â€Å"huge feather in our cap,† recalled the chief financial officer. â€Å"In order to beat Merck, we worked very hard and kept compressing the timelines.† To head the Celebrexâ„ ¢ project, Kendle hired Bill Sietsema, PhD, as assistant director of clinical research. A therapeutic expert in skeletal diseases and inflammation, Sietsema had worked at Proctor & Gamble for 12 years. While Sietsema served as overall program director, Chris acted as the operational project manager, meeting with his Searle counterpart in Chicago on a monthly basis. In early 1997, Kendle also set up a new regional office in Chicago, close to Searle headquarters. For Kendle, the Celebrexâ„ ¢ project was a chance to â€Å"show what we could do and to develop a reputation as a leader in the field of skeletal disease and inflammation.† Kendle actively helped investigators recruit arthritis patients, running television advertisements, directing interested volunteers to a call center. Three hundred  investigators enrolled over 10,000 patients, producing over one million pages of case report forms. Most importantly, through close integration of information systems with Searle, Kendle was able to beat an industry standard. Instead of taking the typical six months to one year, the time span between the last patient in Phase II and the first in Phase III, which began in June 1996, was only 22 days. Preparation for SEC Filing By the time the Celebrexâ„ ¢ program rolled around, Candace and Chris felt that they might have to go public earlier than intended because of the competitive landscape. The new chief financial officer, Tim Mooney, took a leading role in the preparations. Prior to joining Kendle in May 1996, Mooney had worked as CFO at The Future Now, Inc., a computer reseller and Hook-SupeRx, a retail drugstore chain. At Kendle, Mooney replaced the controller with an audit manager from Coopers & Lybrand to beef up his staff. Mooney also led the building of many of the other financially related departments at Kendle. To act as the lead underwriters on the IPO, in August 1996 Mooney chose two regional investment banks, Chicago-based William Blair & Company, L.L.C., which had handled the 1995 IPO of Kendle’s competitor Parexel, and Wessels, Arnold & Henderson from Minneapolis. William Blair began putting Kendle through the paces of preparing to file a preliminary prospectus with the U.S. Securities and Exchange Commission (SEC). The process of going public generally took from 60 to 180 days. One of the key steps in the process was the conversion of Kendle from a subchapter corporation to a C corporation at the time of the IPO. (Subchapter S corporations were entities with 35 or fewer shareholders that were treated like partnerships for tax purposes. Corporate income tax was passed through tax-free to the owners who then paid personal income taxes due.) U-Gene In October 1996 Mooney hired Tony Forcellini, a former colleague, as director of mergers and acquisitions (M&A). Tony had worked at Arthur Andersen in the tax department, and then as a treasurer at Hook-SupeRx with Mooney. The search for European acquisition targets was mainly conducted by Candace and Tony Forcellini, with back-up support by Tim Mooney and Chris. All the while, Chris and Bill Sietsema were working away on the Celebrexâ„ ¢ program. Forcellini’s first decision was easy—whether to pursue an offering memorandum that landed on his desk shortly after he arrived. The company for sale was U-Gene Research B.V. (U-Gene), a CRO based in Utrecht, the Netherlands. U-Gene was represented by Technomark Consulting Services Ltd. (Technomark), a London-based consulting firm uniquely specializing in the healthcare industry. Technomark had an extensive database on European CROs and was primarily in the business of matching its pharmaceutical company clients’ tria ls with appropriate European CROs, but it also had a small investment banking division. U-Gene, a full-service CRO, was an attractive target for Kendle. The venture capitalist owners were actively looking for buyers. With a 38-bed Phase I facility in Utrecht and regional offices in the United Kingdom and Italy, U-Gene could increase both Kendle’s service offering and geographic presence. Since its founding in 1986, U-Gene had served more than 100 clients, including 19 of the world’s largest pharmaceutical companies. In 1996, U-Gene participated in 115 studies at approximately 500 sites involving approximately 4,700 patients and recorded net revenues of $12.5 million, a 37% increase over the prior year, and operating profit of $1.3 million, a 47% increase over the prior year. Because of its U.K. and Italian offices, U-Gene viewed itself as on the way to becoming a pan-European CRO.  (See Exhibit 6 for U-Gene financial statements.) With momentum building, in November 1996, Forcellini seized upon U-Gene as Kendle’s possible entry into Europe and subm itted a bid, offering cash and private stock. Unfortunately, Kendle lost out on this bid to a competitor, Collaborative Clinical Research, Inc, as U-Gene’s owners either wanted a full cash deal or stock from a public company. Collaborative was a competitor slightly larger than Kendle ($25.7 million in revenues) that had gone public in June 1996 and had established a software partnership with IBM. Although it had access to investigators outside the United States, Collaborative also viewed U-Gene as the establishment of a European presence. On February 12, 1997 Collaborative announced that it had signed a letter of intent to acquire U-Gene in exchange for 1.75 million newly issued shares. While this put Kendle out of the picture, the prospects of a deal were not completely killed. On the same day, February 12, 1997, Collaborative also announced that its first-quarter 1997 earnings would be significantly below expectations. On the next day, on analyst speculation that a major client contract had been lost, their stock fell by 27.3%, closing at $9.00.6 This put Collaborative’s UGene deal in jeopardy. Underwriter Concerns About two weeks after Collaborative’s announcement, on February 25, 1997, another CRO, ClinTrials, also suffered a drop in stock price. ClinTrials’ stock lost more than half its market value,  dropping 59%, to $9.50 per share. The fall began when an analyst from Wessels Arnold downgraded the ClinTrials stock to â€Å"hold† from â€Å"buy,† citing a number of key management departures, and continued after ClinTrials announced that its first-quarter earnings would be half its year-earlier profit. The reason for the unexpected earnings decline was the cancellation of five projects totaling $37 million, with the possibility of even lower earnings due to an unresolved project dispute with a client.7 ClinTrials’ negative performance began to affect other CRO stocks, including that of Quintiles.8 With client concentration an issue in ClinTrials’ stock performance, William Blair developed doubts about the timing of Kendle’s IPO. Although Kendle was close to filing its preliminary prospectus, on the day after ClinTrial’s stock dropped, William Blair analysts had a meeting with Kendle’s management and told them that they had decided to withdraw as lead underwriters in the IPO. Candace was resolved to keep going. She said, â€Å"There’s no way out of the concentration issue. We can’t buy our way out of it, because we can’t do M&A deals until we have a public currency, and every day Searle is bringing us more work, we won’t tell them no.† She then asked Mooney to find new investment bankers, and he thought, â€Å"what am I going to do now?† Hoping for a lead, Mooney called up a former security analyst from Wessels Arnold who had gone to work at Lehman Bros. Although Kendle was smaller than Lehman’s usual clients, Lehman agreed to underwrite Kendle’s IPO, with the reassurance that â€Å"we think we can sell through the client concentration issue.† After an agreement with New York-based Lehman was reached, Mooney searched for a regional firm because, as he decided, â€Å"I didn’t want two New York-size egos. J.C. Bradford, based in Nashville, Tennessee, had a good reputation in the industry , and struck us as a nice regional bank. They were more retail-oriented than institutional-oriented, so they wouldn’t directly be competing with Lehman in types of clientele.† Bradford had managed the IPO of the first large CRO to go public (ClinTrials, in 1993) and Lehman had led the IPO of PPD in January 1996. Gmi and U-Gene revisited At the same time, Forcellini was moving ahead on the acquisition search. In January 1997 he tasked Technomark with using its CRO database to generate a list of possible European acquisition targets that met the following criteria: â€Å"ideally a CRO with United Kingdom headquarters; $5 million to $7 million in revenues; no Searle business; certain types of therapeutic expertise; strong in phases II through IV; and certain country locations.† The initial list had 50 European CROs, which Kendle narrowed down to 14 prospects. Technomark then contacted these 14 prospects to sound out their willingness to sell, bringing the number down to five candidates: three CROs in Germany, two in the United Kingdom, and one in the Netherlands (not U-Gene). To assess the prospects, Kendle used information from Technomark on comparable M&A deals. Candace and Tony Forcellini then traveled around Europe for a week visiting the five companies. They decided to further pursue two companies: a small, 15-person monitoring organization in the United Kingdom and one in Germany. The U.K. prospect was quickly discarded because of an aggressive asking price and accounting problems. Kendle then moved on to the German target, a company named gmi. Its full name was GMI Gesellschaft fur Angewandte Mathematik und Informatik mbH. Founded in 1983, gmi provided a full range of Phase II to IV services. gmi had conducted trials in Austria, the United Kingdom, Switzerland and France, among other countries, and had experience in health economic studies and 7 â€Å"ClinTrials Predicts Sharply Lower Profit: Shares Plunge 59%†, The Wall Street Journal, February 26, 1997, p. B3. 8 David Ranii, â€Å"Investors avoiding Quintiles,† The News & Observer, Raleigh, NC, February 27, 1997, p. C8. professional training programs. In 1996, gmi participated in 119 studies at multiple sites and recorded net revenues of $7 million, a 32% increase over the prior year, and operating profit of $1.4 million, a 16% increase over the prior year. At March 31, 1997, gmi’s backlog was approximately $9.6 million. gmi considered itself to be especially good at Phase III trials. (See Exhibit 7 for gmi financial statements.) While Candace and Forcellini were narrowing down European targets, Mooney was hunting for cash. In February 1997 Kendle met at a special lunch with its existing bankers, Star Bank (later renamed Firstar), in Cincinnati. Mooney recalled the conversation vividly: â€Å"After Candace and Chris described their plans, Star Bank’s CEO made a proposal, ‘If you keep Kendle a private company and avoid the hassles of being public, we’ll lend you the money you need for acquisitions.’† With the financing in hand, Candace and Forcellini visited gmi in Munich. While gmi’s owners were willing to talk, they did not have much interest in selling. As Mooney described it, â€Å"gmi was a classic case of having grown to a certain size, had a comfortable level of income, but weren’t interested in putting in the professional systems to grow beyond that level.† After several conversations in March, it was not clear that Kendle and gmi’s owners w ould be able to reach a mutually agreeable price. At this point in early April 1997, the possibility of U-Gene as an acquisition candidate heated up. After the U-Gene deal with Collaborative Research began to collapse, Kendle had initiated a carefully structured inquiry about U-Gene’s interest in renewed discussions. This inquiry led to further discussions and a request in April for Kendle to meet in Frankfurt to try to reach an agreement. With the gmi deal in doubt, Kendle agreed to try to reach closure with U-Gene. After some discussion, both sides agreed on a price of 30 million Dutch guilders, or about US$15.6 million, $14 million of which would be paid in cash, and the remaining $1.6 million would be in the form of a promissory note payable to the selling shareholders.  U-Gene wanted to complete the transaction within the next several weeks, so it would have to be financed at least initially by borrowings. Even if Kendle went ahead with an IPO, the equity financing would not be completed until the end of the summer. Discussions with gmi continued through this period since Kendle was confident about its ability to obtain financing from Star Bank. Ultimately, Kendle’s team was able to agree upon a price with gmi. The owners were willing to accept a price of 19.5 million Deutsche marks, or about US$12.3 million, with at least $9.5 million in cash. They would accept shares for the remaining $2.8 million, if Kendle successfully completed an IPO. The owners were willing to hold off the deal until the IPO issue was resolved. Closing the Deals and IPO Decision To complete both the U-Gene and gmi deals, Kendle would need to borrow about $25 million to $28 million, so financing became critical. Mooney went back to Star Bank to take the bankers up on their promise. He described their reaction: â€Å"Star Bank said they couldn’t lend $28 million to a company that only has $1 million in equity. Nobody did that. They might be willing to finance one acquisition, with the help of other banks, but there was no way that they would provide $28 million.† Mooney was quite angry, but had no choice but to look for other sources of financing. He first tried to get bridge financing from Lehman and Bradford, but they refused, saying that they had â€Å"gotten killed on such deals in the 1980s.† There was also a possibility of financing from First Chicago Bank, but this did not materialize. Finally, in late April 1997, Mooney contacted NationsBank, N.A., which was headquartered in Charlotte, North Carolina and provided banking services to the CRO industry. Nationsbank expressed interest, but only in a large deal. Even $28 million was a small amount to Nationsbank. In 11  a few short weeks, Nationsbank ended up structuring a $30 million credit for Kendle, consisting of a $20 million, three-year revolving credit line and $10 million in five-year, subordinated notes. The interest rate on the credit line was tied to a money market base rate plus 0.50% (currently totaling 6.2%), and the subordinated debt carried a 12% rate. †So NationsBank stepped up in a pretty big way. They could have ended up with Kendle as a private company, with $30 million in debt.† Because of the risk, Nationsbank would also take warrants giving the bank the right to purchase 4% of Kendle’s equity, or up to 10% if the IPO was delayed and Kendle had to borrow the full amount to do both acquisitions. Lehman Brothers was confident about an IPO. The underwriters felt Kendle could raise $39 million to $40 million at a price between $12 and $14 per share, and that Candace and Chris could sell some of their shares as well. Premier Research Worldwide Ltd., a CRO with $15.2 million in 1996 revenues, had raised $46.75 million from its recent IPO in February 1997. Kendle felt they had a much better track record than Premier. Kendle now faced some difficult decisions. It could do the full program, including both acquisitions, taking the $30 million Nationsbank deal, and planning for an IPO in late summer. The successful acquisitions of gmi and U-Gene would establish Kendle as the sixth largest CRO in Europe, based on total revenues, and one of only four large CROs able to offer clients the full range of Phase I through Phase IV clinical trials in Europe. The pricing on the two acquisitions of 8 to 10 times EBITDA seemed in line with recent CRO deals (see Exhibit 8). And, once the IPO was completed, Kendle would have both a cash cushion and stock as a currency to help finance future growth and acquisitions. Assuming an IPO of 3 million new shares at a price of $13.00, Kendle would have a cash position of about $14 million and no debt in the capital structure. (See Exhibits 9 and 10 for pro forma  income statements and balance sheets showing the impact of the acquisitions and the IPO.) A related issue was how many of their shares Candace and Chris should sell if an IPO were done. Their current thinking was to sell 600,000 shares. Thus, a total of 3.6 million shares would be for sale at the time of the IPO, including a primary offering of 3 million shares and a secondary offering of 600,000 shares. This sale would reduce holdings controlled by Candace and Chris from 3.65 million shares (83.1% of the shares currently outstanding) to 3.05 million shares (43.4% of the new total outstanding). Doing the full IPO and acquisition program, however, was unprecedented among Kendle’s peers. â€Å"Nobody does this combination all at once—an IPO, senior- and sub-debt financing, and M&A deals,† as Mooney described the situation. Furthermore, the stock prices of public CROs had been falling since last February (see Exhibits 11 and 12 for stock market valuation and price information). If Kendle bought into the full program and the market crashed or the IPO was unsuccessful, the company would have almost $30 million of debt on its books with a very modest equity base. Perhaps it would be better to do just the U-Gene acquisition and use Star Bank to finance it. After completing this acquisition, it could then pursue the IPO. This approach was safer, but of course Kendle might miss the IPO window and miss the opportunity to acquire the second company. Indeed, instead of discouraging Kendle from doing an IPO, the fall in CRO stock prices might be taken as a signal th at Kendle should forge ahead before the window closed completely.