Saturday, October 5, 2019
The Marijuana Controversy Essay Example | Topics and Well Written Essays - 500 words
The Marijuana Controversy - Essay Example Another influencing factor in this regard is increased risk of accidents and criminal activity associated with marijuana. The proponents of legalization of marijuana, mainly the left wing activists and the Libertarians argue that the war pertaining to the drug is a failing one because; those imprisoned in regard to the drug are not cured of their addiction despite being in jail. Hence it would be more appropriate to legalize marijuana and control its transactions pertaining to purity, taxing and trafficking, like alcohol and tobacco. Legalization allows more control of the drug trafficking and safer and also more responsible use of the substance. The advocates of legalization also opined that crimes associated with marijuana would decrease in case it was legalized (Rawson, n.p). In about 14 states, mainly in the West, marijuana is allowed for medical purposes and several thousands of patients are seeking relief from many ailments through marijuana (Edmund, 5).
Friday, October 4, 2019
Biology Research Paper on Galactosemia Example | Topics and Well Written Essays - 1000 words
Biology on Galactosemia - Research Paper Example The malfunctioning enzyme There are three forms of galactosemia; these include galactose-1, uridyl 1, and classic galactosemia, which is the most severe and common form of galactosemia. The human body breaks down lactose into galactose and glucose and these sugars are used for energy. People with galactosemia have the malfunctioning of the enzyme known as GALT, which helps in breaking down galactose. Defects in the metabolism of galactose lead to the buildup of toxic chemicals in the body cells. Classic galactosemia, which is the most common form, is transmitted through an autosomal recessive patter. A child inherits one defective gene from each parent in order for them to contract this disorder. When a child inherits one mutated and one normal gene, he or she becomes a carrier (Thomas & David, 2011). A carrier has less than normal amount of GALT enzyme that is required in normal circumstances. However, they can be able to break down galactose, thus avoiding symptoms associated with the disease. Although this is the case, carriers have the capacity to pass on to their children the mutated gene. People suffering from galactosemia may entirely lack the GALT enzyme. The prevalence of galactosemia is 1 in every 20, 000 births. There is a likelihood of one out of four that a child will be born with the disease, especially in each pregnancy in a family where other members have suffered from the disease in the past. When an infant suffering from galactosemia takes milk, there is building up of galactose substances in the system of the infant. These substances may cause damage to the brain, eyes, kidneys, and liver. This means that people suffering from galactosemia cannot tolerate animal or human milk (Thomas & David, 2011). Symptoms of galactosemia The defects in the metabolism of galactose can lead to various symptoms, which include kidney failure, cataracts, mental retardation, enlarged liver, and poor growth. In most cases, the disease tends to occur in the first few days resulting from milk or breast formula ingestion. Patients with this disease may experience symptoms such as vomiting, jaundice, lack of weight gain, irritability, as well as diarrhea. In infants, the symptoms of the disease result from infection of the blood with the bacteria known as E. coli. Children may portray symptoms related to poor feeding habits, where they may refuse to take milk that contains a formula (Bosch et al, 2004). Another symptom of galactosemia includes convulsions, which entails the rapid shaking of the body uncontrollably. Galactosemia may also be accompanied by symptoms such as irritability in the patient, and especially children. They may become whiny, fussy, and fretful while suffering from the disease despite how much the parent tries to soothe them. Other symptoms of the disease include lethargy, tiredness, and drowsiness, as well as a feeling of lack of motivation and energy by the patient (Bosch et al, 2004). Diagnosis The diagnosis of galactose mia is done through blood tests, where the detection of the can be done by measuring the enzyme level in white blood cells, red blood cells, or in the liver. Patients affected by this disease lack enzyme activity; however, parents who may be carriers tend to have intermediate enzyme activity, which can be half the normal enzyme activity level. During the diagnosis of this disease, it is advisable not
Thursday, October 3, 2019
The Strategic Control Process Essay Example for Free
The Strategic Control Process Essay Berkshire Hathaway Inc. Facts            Berkshire Hathaway Inc. is a holding company that allows only in possessing outstanding shares of other companies to own and control a number of various companies. The core business of Berkshire Hathaway Inc. is to offer insurance, which comprise of property, casualty and reinsurance services. Also, it is engaged in specialty substandard insurance policies. Berkshire Hathaway Inc. is owned by the ‘world’s famous greatest stock market investor of the modern times’, Warren Edward Buffett. He is the current chairperson and the Chief Executive Officer of Berkshire Hathaway Inc. According to Anthony Bianco, author of the article ‘The Warren Buffett You Dont Know’, Warren Buffet considered Berkshire as his baby. He had purchased Berkshire Hathaway that amounts to $11 million in the year 1965. The legendary investor handled his business bearing in mind the investors and managers. However, he managed the holding company the way it is suitable with him. (BIANCO, July 5, 1999)            Warren Edward Buffett is the second richest person next to Bill Gates in the whole world. He just started with a vanishing textile manufacturer and he made good use of the cash flows of his business into an enormous assortment of businesses that is stable and profitable. He invested from insurance and building equipments to clothing and furniture trading. The Insurance and finance subsidiaries are consisted of National Indemnity, GEICO Corporation and General Re, which is a mammoth reinsurance company. Other companies include See’s Candies, Dairy Queen, Clayton Homes, and Flight Safety International. And in the year 2006, the Business wire which is a press release distributor, and Russell, a sportswear company, were added to the list of subsidiaries that Berkshire Hathaway bought. Furthermore, ISCAR Metalworking, a manufacturer of metal cutting tools which was based in Israel was the primary foreign-based company that has been part of the Berkshire Hathaway Inc.            Warren Buffett possesses the 38 percent share of stock of Berkshire Hathaway. His trusted friend, Mr. Charles Munger is the co-owner and Vice-Chairman of Berkshire Hathaway Inc holding also big enough share of the company. However, the two principal stock holders of the Berkshire Hathaway business do not engage in a conversation that much anymore. Nevertheless, they did not argue on the matters that concerns the operation of the holding company. As a matter of fact, the two investors are engaged in different leisure pursuit, Buffett on his dedicated way of continuous developing of Berkshire and Munger on his charitable works. (BIANCO, July 5, 1999) Strategic Management Strategic management is functioned as the most advanced and modern stage of the whole management process. It assists in directing employees’ sense of direction toward the accomplishment of the company’s goal. It is the fusion of strategic planning, implementation and controlling management where strategic control is to be focused.            Strategic control organization supports the implementation of the strategic plans. This aims to identify and fix the occurrence of problems that leads away from the main goal of the company without affecting the inventiveness and ingenuity of the process.(Lecture E-Strategic Planning,) This is connected with the monitoring progress towards strategic targets of the company (What is Strategic Control?, 2001). Almost every investments made by the Berkshire Hathaway prospers like gold. With this ability of Buffett, he was entitled as the modern – day Midas, a Phrygian king in Greek mythology, who has the power to turn everything that he had touched into gold. (BIANCO, July 5, 1999) But what makes Warren Buffet the world’s famous and greatest inventor of the modern time? How did Buffet manage Berkshire Hathaway, Inc., the holding company that finances his investments in public quoted stocks and buying companies? As mentioned in page above, Mr. Buffet is the owner and CEO of Berkshire Hathaway and Mr. Munger, the Vice-Chairman of the same holding company. The two managing partner of Berkshire Hathaway holding company delegate the responsibility of operating the business to the managers of every company subsidiary. Buffet and Munger left the key manager run their businesses as that is how those key managers like to operate. All the decisions regarding the functioning of the business operation is assigned to the managers. They would just turn over the excess profit that they have generated to the headquarters thus allowing them to concentrate on their responsibilities of the organizational cash flow and not with the diverse temptations. Furthermore, to gain the loyalty and commitment of the subordinates of the Berkshire Hathaway Inc., they comprehend the need to deal with the key managers specifically in the fairest manner possible. Because this is how they wanted to be treated if the situation is inverted. (BUFFET, 1996) As a matter of fact, Buffett intercept less in the operation of the business and rather oversee the whole operations from the top. He cultivated to initiate communication with the company’s executives and waited for them to report to him the things that were likely to cause trouble. He allowed his higher subordinates to directly contact him anytime they want. With that, many believed that the famous Warren Buffet is utilizing the laissez – faire management style. Laissez – faire style of leadership is where delegation of all duties and tasks is placed to the management staff while the role of the leader is just tangential. This is true in the case of how Warren Buffett manage the Berkshire Hathaway. Furthermore, less communication takes place in this type of leadership, the same with what Buffet is executing within the company. It is known that applying this type of leadership style generally leads to poor management, deficient in concentrating and sense of direction toward the main goal of the company. However, the opposite of the result is correct with what is happening in the Berkshire Hathaway management. With Laissez – faire style of leadership implemented in Buffet’s management of the holding company, professionalism and creativity in the group of employees is inculcated.            On the contrary, there is no absolute thing in the world. So the weak point of the Laissez – faire leadership type of Buffet surfaced. According also to the article of Pallavi Gogoi in his article â€Å"Buffet: Right Again?’, in 2002, General Re, the world’s largest reinsurance company which provides insurance for insurance company and the also the major subsidiary of the Berkshire Hathaway crediting for about 25 percent of the revenue of the holding company, got into intensifying reduction of profit and unfortunate operation. These losses are contributed in the desire to put policies in the competition out of business to increase the market share. The company had neglected the fact to allocate enough savings as for the compensation of the maintenance.  (GOGOI, MARCH 4, 2002)            Buffet set down the management to the Ronald Ferguson, the CEO of General Re for a long period of time. He was confident enough of General Re CEO. However, it turned out that Ferguson had ignored the early indications of weaknesses thus resulting to the misfortune losses.            Nonetheless, the business had the chance to rise again after the incident with the occurrence of the September 11 bombing tragedy. There was a sudden increase in the first – class income of the entire insurers. From that time on and for that specific reason, Warren Buffet took an active role in the operation of the reinsurance company. He had abandoned the hands – off rule in dealing with his business. (GOGOI, MARCH 4, 2002) Business Principles            Warren Buffett arranges 13 basic business principles to recognize the management approach. This is made by Mr. Buffett himself in his ‘Owner’s Manual’. (BUFFET, 1996)            The first principle is stated that even if the Berkshire Hathaway is a corporation, the managerial approach is the same with partnership with the shareholders of the holding company as owner – partners. The second principle said that a principal fraction of the company’s net worth endowed in the business is shared to majority of the directors thus both the owners and the shareholders get the advantage and disadvantage of the business operation.            With this comes the ‘long – term economic goal’ of Berkshire Hathaway of making the most of the average annual rate of gain (AARG) through progress and development. Thus, this gives the third principle. Going on the fourth regulation is the acquisition and branching out of varying businesses that could produce earning beyond average returns on capital. The fifth is providing seemed – essential earning reports of the main businesses for individual decision makings. And the sixth code is that the operation and the decision for allocation of resources are indeterminate of the result of any financial reports.            The seventh attitude is by organizing fixed – rate basis in a long period of time when borrowing loans as to be fair with the policyholders, lenders and many equity holders. Protection of the shareholder interest is considered in purchasing whole businesses and by which the eighth rule applies.            The ninth conduct is the regular inspection of the retention earning results. The tenth standard implies the issuing of common stock to the deserving businesses that in return generate the same business value. The issue of selling any company of good performance under Berkshire is the eleventh conduct thus maintaining the loyalty of the shareholders.            The assurance of being truthful with the reports given to the shareholders is the twelfth code. And lastly, the thirteenth principle that Warren Buffet organize is in the degree level of lawfully necessity conferring about the business pursuit in profitable safety. â€Å"I love running Berkshire, and if enjoying life promotes longevity, Methuselah’s record is in jeopardy. â€Å" – Warren E. Buffett, Chairman References BIANCO, A. (July 5, 1999). The Warren Buffett You Dont Know [Electronic Version], 54. Retrieved May 17, 2007 from http://user.chollian.net/~hwangone/notice/notice20040830.htm. BUFFET, W. (1996). â€Å"An Owner’s Manual†[Electronic Version]. Retrieved May 17, 2007 from http://www.berkshirehathaway.com/ownman.pdf. GOGOI, P. ( MARCH 4, 2002). Buffett: Right Again? [Electronic Version]. Retrieved May 17, 2007 from http://www.businessweek.com/magazine/content/02_09/b3772094.htm. Lecture E-Strategic Planning [Electronic Version]. Retrieved May 17, 2007 from http://www.ee.uwa.edu.au/~ccroft/em333/lectures97/lece.pdf. What is Strategic Control? [Electronic (2001). Version]. Retrieved May 17, 2007 from http://www.2gc.co.uk/pdf/2GC-FAQP02.pdf.
Perception of Politics in the United States
Perception of Politics in the United States Are you happy with the United States political environment right now? Pew Research says that 77% of Americans are not. Aristotle was a great Greek philosopher and he thought of politics as The center for human debate and theory. Do the citizens of the United States value politics in the same way Aristotle envisioned? As humans of the world, politics should be a safe place where tough decisions are made by the people. Political issues should be discussed in the open, with ethics at the forefront. At the end of reading this, you will understand why politics should be focused on ethics, and the issues should be ethical dilemmas that we can all agree need to be fixed. The modern word political is derived from the Greek word politikos. The Greeks believed that politics, religion, and culture were intertwined. Greekcitystates, like Athens and Sparta, architected their infrastructure after this idea. Creating town epicenters where political debate could take place as theatre, and social events could be held to discuss ethical issues. Aristotle believed that politics should be used as a practical science, enriching all citizens lives in a transparent way. Aristotles ideas about politics formed the foundation of todays Political Scientists. Political Science is a study of the tasks a politician must undertake. Put yourself in the shoes of a political scientist; How hard are the problems that politicians are responsible for today? How would you advise them to solve those problems? These critical questions must be asked by the citizens of the United States in order to empathize with politicians, and ultimately progress as a cou ntry. To help myself understand what the current perception of politics in America, I asked members of my family two questions: 1) What is your perception of politics in the United States? 2) Regardless of that perception, what things would you change about politics in the United States? My side of the family is very right wing, republican, and pro trump. My wifes side is very left wing, democrat, and pro Obama. The range of answers I received was wide, but they mostly had a common theme; America is doing just fine,  but we want fair treatment and inclusion for all citizens. Lets start with the first question. Right side responses were mostly positive, stating that the country is trending upwards and things actually getting done by politicians. Left side responses were positive as well, stating that government has a good system of checks and balances in place, but that it is being tested. Both sides have an overall positive view of our country. I did have outlier responses however. One  family member who identifies as a republican stated their current perception of politics is corruption and intolerance. They would like to see transparency and accountability for actions taken by government officials. Another family member who identifies as democrat noted that their current perception of politics has not changed almost their entire life, no matter the president. They advocated for the importance of local government and the affect it has on our lives. The responses to the second question were much farther from each other on the right and left. Right side responses mainly focused on term limits for all politicians. They want a constant cycle of politicians so that we dont have career politicians, and so that we can have a steady turnover and broad representation. Left side responses varied from each other. One member saying they wouldnt change anything because we have adequate checks and balances in place to handle problems. Another member advocating for citizens proactivity in politics, wanting to make it a holiday on election days, and encourage people to get involved in local government. These responses to my inquiries are interesting. During their interviews, most family members stated that they want the division between our country fixed. Its interesting that the overall theme of their responses was similar. Maybe if we all took an approach similar to what Aristotle suggests, making politics the center of our cultural lives, we would be able to understand each other better, and put aside social differences to focus on ethical issues. Social Issues divide the country; ethical issues unite us all. Ethics is defined as moral principles that govern a persons behavior or the conducting of an activity. Political issues usually come in two different types; Ethical, or Social. Social issues are things like: Should we give more funding to inner city schools? or Would incentivizing diverse business hires improve our economy?. Whereas ethical issues are things like: Do we need to act on climate change? or Should women be allowed to choose when they receive an abortion?. The difference is simply this: Ethical issues deal with what is right, Social issues deal with improving a specific part of society. Are you starting to understand why Aristotle says that Ethics should be the core of politics? Aristotle wanted politics to be used for the happiness of man, he says The science that studies the supreme good for man, is politics (Living Ethics, 92). The Supreme Good is often referred to as ethics in todays culture. Aristotle believed that ethical issues should be the center of politics. I believe if we focus on ethics and combine cultural aspects into local political discussion, the social issues can be solved by the people, while ethical issues could be solved by the government. Ethical issues are usually the most debated problems. Some examples of ethical issues today are: Poverty, Education, Immigration, Sentencing, Environment, and Climate Change. Both left and right politics have strong views on how these ethical dilemmas should be handled, but both sides agree that they are in fact problems that need to be addressed. What do you want from government? As a citizen of the United States, I want government to solve ethical problems while taking input from citizen representatives. As a member of society, I would like to see more social outreach and involvement from everyone so that we may come together to solve social issues. As humans of the world, politics should be a safe place where tough decisions are made by the people. Political issues should be discussed in the open, with ethics at the forefront. Aristotle believed in this, and so do the citizens of the United States today.
Wednesday, October 2, 2019
I Know What You Did Last Summer :: essays research papers
1) Julie, Ray, Helen, and Barry are four close friends, Julie and Ray being a couple and Barry and Helen also being one. Being high school students, they went late one night up to a clearing in the forest to hang out. When driving home, they had been a little drunk and were still kissing, they ran over a ten year old kid, David Gregg, who was riding a bicycle. Ray had been driving. The four kept driving until they reached a telephone, where an anonymous ambulance was called for help for the child. The four formed a pact as to keep the incident between them and not to anyone else. Julie and Ray had been against it, but agreed and made it. After that happened, Julie and Ray isolated themselves from the rest of the group. Julie, normally a highly school activity involved social girl, turned to studying and working hard for her senior year, having a new boyfriend named Bud. Ray totally fled the scene, moving to be carefree in California for a year. Helen and Barry remained a couple, Bar ry going to the local University and Helen being the channel 5 Golden Girl, or weather reporter. The real plot of the story begins with Julie receiving a note at home simply stating: â€Å"I know what you did last summer.†She gets upset over it and after not talking to her for a year since the incident, calls Helen to talk to her. Helen arranges a meeting for the three, but they all convince each other that it was just a kid pulling a prank. That blows over until Ray finally shows up, and upon finding an apartment, is mailed the article about the incident. Ray and Julie take a drive to talk about the note and article, and Julie convinces Ray to take her to see David’s parents. Not confess, just meet and ask about. They arrived at the house and rung the doorbell a few times, only to meet Megan, the sister of David. She told Julie, while Ray was off â€Å"calling for help for their car†, that David’s mother was put in a hospital due to an unstable mental s tate, her father staying by her side. Her older brother was off and out of the house. Anyway, as they left, Ray notes that Megan was hanging up men’s shirts to dry and the house’s paint looked fairly new – and in places that Megan, who was short, couldn’t reach, even with a ladder.
Brain Disorders :: essays research papers
The brain, which weighs only three pounds and is made up of eighty percent water, is the key organ of our nervous system. It is divided into three different parts: the Cerebrum, the Cerebellum, and the Medulla Oblongata. The â€Å"gray matter†of the brain is about one-eighth inch thick and it gives the brain its gray color. Inside the brain is the cortex, which is made up of billions of neurons. These neurons extend into the cerebral hemisphere and it controls all mental activity. In this report I will be discussing different disorders of the brain and how they affect the every day life of people who may have these disorders. (The Volume Library 900)      The first disorder that I will be discussing is a disease called Attention Deficit Hyperactive Disorder (A.D.H.D.). This disease has not just been recently discovered. It was first discovered in the eighteen hundreds by a British physician where the first book about Attention Deficit Hyperactive Disorder was written, â€Å"Fidgety Phil.†Up until the 1960’s it was called minimal brain function. Medication is not a new treatment either. In the 1930’s a medication called Dexedrine (d-amphetamine) or Desoxyn (methamphetamine), now known as Ritalin, was used. (Wender, M.D. 15)      This disease is present in three to ten percent of school-aged children and four to five percent in adults. A.D.H.D. is more common in boys than in girls. To determine if a child has A.D.H.D., there are not set psychological or laboratory test but the testimonies of the people who are involved in the patients’ everyday life. However there are certain criteria that can define and diagnose symptoms. In many cases medication can reduce and to an extent eliminate A.D.H.D. This is true in about seventy percent of school-aged children who have A.D.H.D. and in about sixty percent of adults who are on the medication. Another plus of the medication is that it is not addictive if it is not abused. To reduce the symptoms of A.D.H.D. in adults therapy may also be helpful. Although, the use of medication to treat A.D.H.D. can be very controversial. (Wender, M.D. 9) Some characteristics of school-aged children with A.D.H.D. are problems in school like math, reading, and spelling because twenty to thirty percent of children have learning disorders. The most common symptom is attention difficulties, distractibility, and hyperactivity. Not all patients of A.D.H.D are hyperactive, therefore a new diagnosis was identified: Attention Deficit Disorder (A.
Tuesday, October 1, 2019
Global Procurement and Supply
GlaxoSmithKline:Sourcing Complex Professional Services Erin Edwards Global Procurement & Supply April 22, 2018IntroductionGlaxoSmithKline also known as GSK is currently losing millions of the dollars annually in legal process. Normally, GSK always billed the law firms on hourly basis but this was not practical for the company. The team not had to research and innovate new ways to cut the spending through a new procurement process. GSK, GlaxoSmithKline uses an innovative approach to procure outside counsel by trading relationship based selection of law firms to an online reverse auction. However, the quality of the work, and selecting the right the law firm was a challenging hurdle to jump. GSK was willing to take up the challenge to come up with a better process of handling their spend.GSK is hit with a devastating suit and only has a certain number of days to hire a firm in time to respond. Their managing attorney Sophia Keating grapples with GSK approach to selecting suppliers. GSK employees ensured Sophia that this approach drives down cost and improves the quality of work submitted by the lawyers. Still skeptical about the process, she still runs process by comparing the competing firms and their bids. Furthermore, it was the decision by Harlow to outsource the services. GSK made strides to come up with the suitable options, and options to meet the criteria of less cost, and quality work. However, there were other concerns that could be discussed more broadly to avoid the pitfalls during the process. This case also describes the process in which this process was made and adopted beyond the implications for law firms and other service providers. Many processes seemed to only be adopted by selecting vendors for a variety of supplies and products but can be used for services also. This procurement process can be incredibly beneficial, especially streamline purchasing and tracking spend. This process can ensure a company pays the best price for goods or services, save time by choosing the most reputable vendors, and minimize order delays and mistakes. After getting early endorsement from the general counsel, Marty Harlow worked with GSK's global external legal relations team (GELRT) in legal to develop a matter-specific, mini-RFP tool that enables in-house counsel to assess firms' specific qualifications for a particular representation. The other main component of the OCSI is the electronic reverse auction which encourages fee competition among qualified law firms instead of hourly rates. GSK's preferred firm roster work with procurement to draw up a shortlist of firms to invite to an OCSI event. GSK lawyers use a form-driven process to state as much detail about the matter as possible and these are passed to Harlow's team for submission to firms. This case is very useful in talking about institutional change and how the procurement process can be adopted to many fields and services.Main IssuesUncontrollable SpendingThe company was spending millions of dollars annually on the spending on the legal matters. It was identified that there was also extra unnecessary cost incurred that could have been avoided through a better process that was more centralized. â€Å"More than a quarter of companies in the U.S. and UK spent over $5 million annually on litigation costs in 2012, and among healthcare companies that proportion was estimated to be 30%– 40%. Because legal fees had become a prominent line item in company overheads, top management in many companies pressured their general counsel (GC), the chief lawyer of a legal department, to rein in legal spending†(Gardner and Silverstein 2)There were some moments when the company even did not know about the spending on the legal matters, and legal department exceeded the budget sometimes. This was an issue many companies were being affected by, not just GSK. However, GSK noticed the high costs and need to be able to have a better centralized process. Therefore, it was challenging for the company to manage the spending on the legal matters and find another solid process that could not only cost less, but also provide quality services since quality is very important in the legal work. Relationship Vs. QualityGSK is engaged with the same law firms that they have had long relationships with. â€Å"One involved consolidating the number of firms with which their company regularly workedâ€â€sometimes ending long-standing relationships.†(Gardner and Silverstein 3) Relationship management is very key is long lasting business relationships, which has allowed GSK to be very successful with prior legal matters. However, through this process, the company would incur extra cost on the legal matters, because there is no cap on spend since it was tracked hourly. Since there was no centralized system to track the work and spend, GSK had no idea about the urgent matters and problems of the company. It is very important the firms that are selecting ensure that quality work is being completed without overspending. Cost does not always mean quality. GSK should have to risk quality during their cost for the best legal pursuits. Even though supplier relationship management is great, but it becomes challenges when spend is starting to become uncontrollable and unmanageable. Building closer relations with your strategic partners will minimize supply chain risks. Having strategic partners whose goals are aligned with business objectives are highly valuable and important to long term success.KPIsThere was not performance management in place to determine how the firm is performing. GSK did not have a quantifiable measure that is used to track and assess the status of the firm process. Every area of business especially complex professional services should have specific metrics that should be monitored. Having metrics will focus more on big picture financial metrics, which was an issue for GSK without the procurement process. The case does not mention how performance of the firms will be tracked. â€Å"GELRT leveraged technology to obtain?the information it needed to optimize financial performance and strengthen strategic planning. Matter management, electronic billing, and reporting systems were already in place within the legal department.†(Gardner and Silverstein 6) There is a lot of information about how GELRT uses technology to acquire information. The system is able to track spending, but there is no system in place to track KPIs.AnalysisThe process of sourcing involves the company to select suppliers for a product or service. The complete an evaluation of the supplier and finally contract with the supplier to deliver the required products or services. While procurement refers to the activity of getting the deliveries from the supplier identified and ensuring that the payments to the supplier are made. GSK adopting procurement process has helped make changes within their spend. â€Å"By 2006–2007, procurement had become heavily involved in the sourcing of many ancillary services. Harlow's tough stance in negotiations saved GSK an estimated $23 million: $19 million from Legal Staffing/eDiscovery, $1 million from Court Reporting, and $3 million from Medical Records.†(Gardner and Silverstein 4) By taking the right initiatives in sourcing and procurement, GSK is able to see the benefits. Having a process in place will save the company time; ensure that one is getting the right solution to meet business needs. A procurement process will ensure you pay the right price and avoid overlooking vital steps that may come back to haunt the firm later. Procurement policies and procedures allow a business to arrange its buying strategy to its long-term goals and objectives. Procurement helps with a better chance to meet business goals. â€Å"This system reminds me of buying office supplies or landscaping services. Can it really be applied to a complex legal case like this one†¦.?†(Gardner and Silberstein 1) This is what Sophia Keating thought to herself when the idea of a reverse auction process was presented to her. The vendor selection process initially starts as part of a company's strategy. A procurement process can measure the direct costs and the team timesaving achieved through better management. For example, GSK was very focus on their legal spend, which in turns means you need to select firms that would be able to handle the request in the right budget. The nice thing they had a selection of firms who meet their cost, quality and service requirements needs, but also add some firms who were new. After they shortlisted their firms, GSK was able to use OCSI for their quotes, terms and minimum service levels. Finally, review their proposals from the reverse auctions and reward the firm with the lowest number. Procurement increases an organization's productivity by providing visibility into transactions.Benchmarking is the process of paralleling what companies are doing with what the best performing company in your industry is doing. In textbook, Purchasing & Supply Chain Management describes bench making as, â€Å"Benchmarking is the continuous measuring of products, services, processes, activities, and practices against a firm's best competitors or those companies recognized as industry or functional leaders.†(770) In Exhibit 3 of the case, you able to see how GSK compares with the other Law Firms Self-Assessment. Unfortunately, GSK managing attorney assessment does under perform in a couple areas like understanding business objectives, involvement of diverse team members, and reactiveness and creativeness. One of three types of benchmarking, process benchmarking compares operational processes. Performance benchmarking compares product or services, marketing and sales to determine how to increase profits. Short term benchmarking goals, produce quick results. But it is the long-term goals that help with the direction and strategies of the company that will make it more competitive in the market. Performance management is a performance controlling style that has grown increasingly popular with a variety of companies. Performance management is the process in which it challenges the company's overall performance and abilities. It challenges them to bring their best foot and work forward. Performance manage usually involve setting goals, then evaluating their progress or work with a reward or penalty depending on how the firm or vendor performs. RecommendationsRun Reverse AuctionsA reverse auction is best used to obtain the best rate by embracing competition among firms bidding on price. GSK using this method will allow the law firms to compete with their best idea to win the business and also be within budget. The idea of reverse because during the auction makes sure the price drops. Price was definitely an issue for GSK previously because there was no way to track the spending. Using the method of reverse auction has a number of advantages. Some of the benefits of reverse auction is the amount of time it takes to make a decision. Before something that could takes months, can now be shortened into weeks or even days. Also, the bidders are able to see who their competition and how they compare to them. There is a lot more transparency when it comes reverse auctions. Law firms would calculate their preliminary prices and confirm the very lowest price they would go to secure the business. II. Conduct Routine Performance ReviewsPerformance management is a mutual agreement about how companies or individuals contribute to an organization's goals. This is what OCSI can do for GSK. OCSI can act as a process of performance management and appraisals focusing on aligning GSK's workforce, building capabilities, improving employee performance and development, and influencing better business results. GSK should complete annual performance reviews to evaluate the firms' performance. This entails gathering feedback from co-workers and clients into consideration and observations by management. These assessments can be very detailed and elongated to include a review of the previous years' evaluation and an assessment of services. Many firms may have the company complete an evaluation of their own performance that is then discussed during the evaluation and compared to the official evaluation. Monitoring gives the company an opportunity to make a course correction or adjust a timeline if it is needed so that the vendor will produce the desired outcome of successfully achieving goals. If GSK concludes the vendor has unacceptable performance, monitoring performance enables them to identify the problem early and get an opportunity to rectify before being evaluated incorrectly.III. Implementing a Performance-Based IncentiveThese systems are designed to retain top-performing vendors, motivate the desired performance, and control costs. If a company wants to pay for performance, it must define performance in very specific, objective, quantifiable terms, measure it and track it. Introducing a performance based incentive program with help firm collective help GSK reach their business goals and legal objectives. This r eally entices firms to align their work with the business goals. Having a reward for exceptional performance and penalties for poor performance really ensure that money is not being wasted but invested properly. IV. Routinely Fresh Preferred SuppliersIt is healthy to refresh suppliers and firms from time to time. If you consolidate your supplier base, it will allow better visibility over the billing process. It will be easier to track payments leaving the business and going to the suppliers, so any errors will be identified more rapidly. When you deal with less suppliers and vendors, there is less administration and paperwork to handle. This allows more time to focus on other areas of the business. When it comes to decreasing the number of suppliers GSK uses, it is best to control what's best for the business. Above all, GSK needs to find the best overall fit so that there's a steadiness between the time it takes to achieve their supplier base and the profitability of the business.Conclusion Procurement is should be viewed strategic function working to improve the organization's cost-effectiveness. Procurement helps streamline processes, reduce service prices and costs, and identifying better firms to do services. It is essential to any business that purchases anything such as products or services. Since GSK buys services like other companies, then the better its procurement function works, the more money it can make. Typically, businesses buy products or services from multiple vendors. Procurement handles the details of procuring these purchases at optimal prices. Combining your strengths with stakeholder' helps find new progressive solutions to remain successful in business and stay ahead of the competition. To maintain sustainable supply chain, procurement management has a profitable impact on a company's processes. It helps avoid supply chain risks by better collaborating with vital partners and providing added value to diverse business practices. The bottom line: Performance management is an ongoing practice, not a yearly task. The success of an organization, if aligned to your organizational goals, will drive business results.ReferencesCapko, Judy. â€Å"Five Steps to a Performance Evaluation System.†Family Practice Management, 1 Mar. 2003, www.aafp.org/fpm/2003/0300/p43.html.Gardner, Heidi K, and Silvia Hodges Silverstein.â€Å"GlaxoSmithKline: Sourcing Complex Professional Services.† Harvard Business Review, 26 Feb. 16, hbr.org/product/glaxosmithkline-sourcing-complex-professional-services/414003-PDF-ENG.Accessed 18 Apr. 2018.Markgraf, Bert. â€Å"How to Evaluate a Company's Performance.† Small Business – Chron.com, Chron.com, 5 Feb. 2018, www.smallbusiness.chron.com/evaluate-companys-performance-67095.html.Monczka, Robert M., et al. Purchasing and Supply Chain Management. South-Western, 2011.Wincel, Jeffrey P. Lean Supply Chain Management: a Handbook for Strategic Procurement. Productivity Press, 2008.
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