...A critical analysis of AstraZeneca plc.’s shareholder wealth creation in the five-year period from 2010-15 * Xiaoyu Zhang August 2016 MSC in Accounting and Financial Management Global Pharmaceutical Industry Overview Pharmaceutical industry is closely bound up with people’s living standard, which also correlates general economic and deserves thoroughly research and analysis. Due to favorable demographic trends and significant unmet medical needs, the pharmaceutical industry is expected to enjoy long-term growth. According to the research conducted by AstraZeneca, there is 9.5% growth in 2015 of global pharmaceutical sales (AZ annual report 2015, p12). The number of people accessing healthcare is increasing, as is healthcare spending, particularly by the elderly. For example, WHO estimated that, by 2050, the world’s population aged 60 years and older is expected to total two billion, up from 900 million in 2015 and that, by then, 80% of all older people will live in low- and middle-income countries. Emerging markets are expected to continue to boost pharmaceutical growth. Furthermore, the increasing threat of non-communicable diseases (NCDs), such as cancer and cardiovascular, metabolic and respiratory diseases, has killed tens of millions of people. It is estimated that NCDs kill 38 million people each year and especially affect low- and middle-income countries where nearly three-quarters of these deaths occur (WHO, 2011). As reported, NCDs are often associated...
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...painters, and sculptors. It can also refer to the right of bestowing offices or church benefices, the business given to a store by a regular customer, and the guardianship of saints. The word "patron" derives from the Latin patronus, "patron," one who gives benefits to his clients (see Patronage in ancient Rome). Abstract This essay proposes a new patronage network driven by a Transfer Technology Office sustained per Citizens. Engage to generate wealth created by innovator citizens and that this wealthy be distributed to thinker citizens. Source readings: patronage history and the books The World is Flat and Open Business Models. From the Beginning of the first Organized Societies, the art, supported by patronage Were sciences. The development of the same innovations to generate this value was by wealthy people and / or political power within society (e.g. family Medici, Pope Julius II who sponsored Rafael). In other words, the benefits of this value was for people with resources and in some ways was "monopolized" the creation of innovations by the high echelons of society. Whatever its roots, it became firmly institutionalized in Florentine life. As Biagioli describes it, patronage was not an "option." It was the key to social status, and, in Florence, there was an absolute social hierarchy. A career and social mobility were impossible apart from being involved in a network of patronage relationships. Even the working poor found themselves a part of this complicated...
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...2014 Balance and American experience essay There are a number of factors that characterize the development of a country. Wealth and poverty has been the single biggest issue of America since the introduction of money thousands years ago. Money is the equation for freedom in our society, and if we approach it this way then there are thousands of people still enslaved in America today. In the next two paragraphs I will explain what it is really mean to be rich or poor. Wealthy people often seem like they have the world laid out at their feet, especially the ones who are born with a silver spoon in their mouths, so to speak. It often seems very unfair that some people can buy any luxury that their hearts desire while others of us struggle to put food on the table for our families and crawl from paycheck to paycheck like a desert traveler dying of thirst. This discontent is expressed in the recent “Occupy Wall Street movements” who coined the phrase “the 99 percent” to describe how most of society languishes and struggles while a select one percent enjoy unimaginable wealth. While it is true that many of these people worked very hard for their fortunes and in some cases, came up from the very poverty that they are now so far above, it is also true that both poverty and wealth are a cycle. Someone that is born into a poor family will have a harder time pulling themselves out of that situation, not least because they will be unable ...
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...Thematic Study | 12 December 2012 17th ANNUAL WEALTH CREATION STUDY (2007-2012) Economic Moat Fountainhead of Wealth Creation HIGHLIGHTS Economic Moat protects profits and profitability of companies from competitive attack. Extended CAP (competitive advantage period) of Economic Moat Companies (EMCs) leads to superior levels of profits and stock returns. Over 2002-2012, EMCs in India have outperformed benchmark indices. Breach of Economic Moat causes massive wealth destruction. Markets seem poised to touch new highs in the next 12 months. "(Great companies to invest are like) Wonderful castles, surrounded by deep, dangerous moats where the leader inside is an honest and decent person. Preferably, the castle gets its strength from the genius inside; the moat is permanent and acts as a powerful deterrent to those considering an attack; and inside, the leader makes gold but doesn't keep it all for himself. Roughly translated, we like great companies with dominant positions, whose franchise is hard to duplicate and has tremendous staying power or some permanence to it." — Warren Buffett TOP 10 WEALTH CREATORS (2007-2012) THE BIGGEST Rank 1 2 3 4 5 6 7 8 9 10 Company ITC TCS HDFC Bank MMTC HDFC State Bank of India Infosys Tata Motors Hind Unilever Jindal Steel Wealth Created (INR b) 1,187 1,082 744 671 558 556 516 499 457 436 THE FASTEST Company TTK Prestige LIC Housing Finance Coromandel Inter Eicher Motors IndusInd Bank MMTC Jindal Steel Bata...
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...Utilizing Capabilities to Increase Stakeholder Wealth: A Balance Scorecard Approach Every for-profit company wants to be at the top of the food chain when it comes to financial wealth and goals. To increase company wealth a firm must balance their scorecard which consists of four key perspectives: financial, internal, customers, and future. I chose this article for my paper because one of my goals in life is to be at the top of the pyramid at a for-profit company. Some of the tools that are mentioned in this article will help me build my foundation on to achieve my goals of reaching top management at a for-profit company. Brief Overview The article discusses how for-profit companies can build and increase their wealth from an internal and external standpoint. The article also addresses how resources are accessed, developed, combined and/or deployed which leads to wealth creation. Taking a balance scorecard approach is one way a company can determine how capabilities can lead to wealth creation. The balance scorecard approach consists of the following perspectives: financial, internal, customers, and the future. The article also proposed a modified balance scorecard which consists of shareholders, customers, employee, and future positioning perspective. The financial perspective is concerned with risk and profit from a shareholder point of view. Public firms are in business to create and increase shareholders wealth. If a firm is not profitable, shareholders will...
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...Q1: The attitudes that Sheehy reports appear to be in work environments I have experienced According to Strang (2002) America’s economic future faces the newest yet the most dangerous challenge of new generation of employees. This fact is further supported by the Sheehy’s report that is an accurate description of the new generation of employees. Employees in the current world do not regard hard work as a means to an end. This new generation of employees wants the easy way out or a short cut to wealth creation. To them, wealth can be acquired without sweat or hard work and they have many examples of people who have acquired vast amounts of wealth without pain. Unfortunately, these people that they look up to have acquired their wealth illegally without any convictions. Young employees do not care whether the business grows or not, to them they are working just for the convenience before they move on to well paying jobs. In the work environments that I have experienced, the Sheehy report gives an accurate picture of what is on the ground. Young employees consider themselves as the bosses to the customer. They believe that the customers depend on their services instead of the opposite. Most of my former colleagues believed that the companies we worked at depended on us entirely, and that our absence would lead to the collapse of the company. The management was viewed as a burden, and the people who had occupied those positions, got there due to family connections, friendships...
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...Prepare and present a 5 minute (3 pages) presentation on one strategy for poverty eradication, wealth creation and development. Strategy-Capacity Building Introduction Rural-urban migration, population mobility and sex work continue to drive sexually transmitted epidemic in Sex workers. Capacity building can be channeled through state level partners such as sex workers association or community based organizations in given towns to help organize outreach, community mobilization and dedicate clinics for sex workers. Sex workers should be enlightened through services such as Condom promotion, syndromic case management, regular checkups and treatment of asymptomatic infections. The capacity building strategy aims at training the sex workers, monitor outcomes and conduct research on the wellbeing of the sex workers. The capacity building inputs directed to the sex workers may also be offer simple rate loans to assist begin income generating activities. In addition, sex workers may be capacity build through assisting them form wealth creation groups-forming chamas, and begin saving. The capacity building coordinators will help the workers in opening group bank accounts and conducting rotation loan allocation. Loans will boost economic status of the workers reducing their participation in the sex workers career. Conclusion In conclusion, Capacity building may offer training of skills such as Mat making, waste recycling. The skills and techniques instilled in the sex workers will leave...
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...by Ibnu Abu Yusuf & Ibnu Taimiyyah and Ibnu Khaldun. They defined it as the creation, developing and delivery of unique customer satisfying competitive products and services at a profit to organization and customer in the lights of Islamic values and principles. In contrast, conventionally it is defined as the process whereby an individual's personal and financial goals are achieved through the development and implementation of a comprehensive financial plan. Islam is a comprehensive, integrative and holistic religion that governs all aspects of life, major and minor, personal and social, spiritual and materialistic and relates this worldly life to the Hereafter. This means that we need to practice Islam while we perform our business and economic activities. Muslims are encourage planning for their life and put efforts to achieve the goal setting then ask help from Allah. The final stage is tawakal for what the result and takes it as the destiny bestows by Allah. The prophet Muhammad used to supplicate Allah: ‘My Lord, help me and do not give help against me, grant me a victory, and do not grant victory over me, plan on my behalf and do not plan against me, guide me and made my right guidance easy for me, grant me victory over those who act wrongfully towards me….’[1] (Narrated by Abu Daud.) In Islam, financial planning is not just merely a process of acquisition and accumulating wealth but it has a broad definition which relates to the concept of vicegerent (kalifa)...
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...perfect earth, but we can make leaps and bounds toward a more prosperous society. We must change our outlook on poverty and being to recognize and partner with the poor as wealth creators who will start to empower one family at a time to rise above poverty. The biggest misconception of poverty is the idea that the poor are helpless to rise above their situation. A typical poverty advertisement or commercial shows children with bulging stomachs, and people who merely have skin and bones. They present an awful epidemic of starving people who need our help, but they portray that somehow these human beings are incapable of creating a solution to their hunger. These people are still human beings with the same innate ability to create wealth as you and me. They are created with talents, abilities, skills, and a drive like every other human being on Earth, and they deserve to be treated like one. Poverty advertisements often focus on the starving children, but too often forget about the father and mother who cannot provide for them. Instead of focusing on the children we must start to focus on the family unit. By putting the family unit at the core of our economic ideas, we begin to change the way we look at wealth and the economy. We no longer ask what makes people poor, but how the poor can create wealth. What environment is necessary to create a prosperous and wealthy society? How can we not only create but protect this environment for people...
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...potential implications can it have on the world economy and businesses in general, and also what potential positive impact this can have on global warming and climate change. At the end of the report I make a reflection on the ethical and moral dilemma that I might face in future at my workplace. Introduction Our crude dependence on oil and the complete disregard for the environment has led us to this path of irreversible destructive impact on the planet and there is no less that 60 months left beginning in 2008 that climate change in the form of a 4C rise in temperature by the end of the century becomes irreversible. Also with the current economic crisis it has become apparent that the path that we are going forward in terms of value creation in terms of wealth and GDP output has not been efficient enough to target the real problems that we face today and most governments have been ineffective enough to give an optimal result. So the policy document shows us a process of this great transition that we need to undertake to create a sustainable ecological environment and also a growing viable economy. Great Revaluing In ‘Great Revaluing’ the policy suggests that the economic and social policies of the government should be directed at creating real value which is beneficial to the society...
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...7 Secrets of Self-Made Millionaires By Grant Cardone Learn how to generate multimillion-dollar wealth -- and enjoy the journey on your way to the top. First, understand that you no longer want to be just a millionaire. You want to become a multimillionaire. While you may think a million dollars will give you financial security, it will not. Given the volatility in economies, governments and financial markets around the world, it's no longer safe to assume a million dollars will provide you and your family with true security. In fact, a Fidelity Investments' study of millionaires last year found that 42 percent of them don't feel wealthy and they would need $7.5 million of investable assets to start feeling rich. This isn't a how-to on the accumulation of wealth from a lifetime of saving and pinching pennies. This is about generating multimillion-dollar wealth and enjoying it during the creation process. To get started, consider these seven secrets of multimillionaires. No. 1: Decide to be a multimillionaire You first have to decide you want to be a self-made millionaire. I went from nothing — no money, just ideas and a lot of hard work — to create a net worth that probably cannot be destroyed in my lifetime. The first step was making a decision and setting a target. Every day for years, I wrote down this statement: "I am worth over $100,000,000!" Related: 7 Rules for Coping with Sales Rejection No. 2: Get rid of poverty thinking There's no shortage of money on planet...
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...book (the butter) which people looking for it. Reader will find everything help him to reach the wealth quickly. For the purpose of enriching this book with valuable information, this book will contain wonderful excerpts from the best millionaires and writers, who have written about their experiences (how to get a million). In addition, the book contains the best theories which have been written by the famous writers about Millionaire people in the world like: Napoleon Hill, George S. Clason, Robert T. Kiyosaki, MJ DeMarco, T. Harv Eker, Thomas J. Stanley, William D. Danko, Gary Keller, Dave Jenks and Jay Papasan, Donald J. Trump and Meredith McIver; Mark Victor Hansen and Robert G. Allen. Therefore, I divided this book into nine parts: Some parts mentioned to tips, theories and skills to help reader and poor to develop the economic culture in order to become rich in a quick time. Other parts included topics concerned with the means to successfully work individually or collectively using some techniques and skills to achieve goal in quick time. In addition, there are some stories in the book about how to get a million shortly and quickly by applying the skills provided by the book. Wealth is the main concern of both rich and poor alike, as the rich seek to develop their owned wealth. The poor also hopes to get a wealth. Namely that everyone wishes to obtain an increase in the money, perhaps too little does not matter...
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...say: “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs” (1 Timothy 6:10). Now this verse is often misquoted as saying, “Money is the root of all evil.” Notice how “money” is substituted for “love of money” and “the root of all evil” is substituted for “a root of all kinds of evil.” These changes, while subtle, have an enormous impact on the meaning of the verse. The misquoted version (“money is the root of all evil”) makes money and wealth the source (or root) of all evil in the world. This is clearly false. The Bible makes it quite clear that sin is the root of all evil in the world (Matthew 15:19;Romans 5:12;James 1:15). However, when we reflect upon the correct citation of this verse, we see that it is the love of money, not money itself, that is a source of all different kinds of trouble and evil. Wealth is morally neutral; there is nothing wrong with money, in and of itself, or the possession of money. However, when money begins to control us, that’s when trouble starts. With that said, let’s consider the question before us: Why is the love of money a root of all kinds of evil? To help us answer this, we must look at the...
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...MERGERS AND ACQUISITIONS LITERATURE REVIEW LUKE WALTON Table of Contents Abstract 3 Introduction 3 Background and motivation 3 Objective or aim of this literature review 4 Findings from current available literature 4 Issues from current research 5 Contribution to current literature and stakeholders 5 Section One 6 Motivation of M&A’s 6 Synergy 6 Agency theory 7 Hubris 7 Relationship between motives and financing 8 Section Two 9 Payment methods 9 Financing hierarchy vs. market conditions 9 Differing views on leverage 10 Valuation and the agency problem 10 Managerial ownership 11 Section Three 12 Performance of mergers and acquisitions 12 Performance indicators 12 Methodology 13 Profitability 13 Performance due to the motivation 14 Conclusion 15 Summary and findings 15 Areas of future research 17 Qualitative research in M&A’s 17 Decision making process for methods of payment 17 Unified methodology in determining M&A performance 17 References 19 Abstract Mergers and acquisitions have become a common practice for firms as a mean to expand and increase profitability. Existing evidence is still unable to strongly determine what factors make a successful M&A due to inconsistency in data and findings. This paper aims to provide an insight to the steps included in the M&A process by comparing existing literature and hopes to suggest key determinants of a successful M&A transaction. Evidence shows...
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...While the elite of this time period enjoyed unheralded success, many of the lower classes were exploited. The Gilded Age was a time of economic growth for the U.S.; the industrialization of the country and the technological advances made it possible for certain individuals to achieve extraordinary amounts of wealth. However, this wealth came at the cost of the general population. This economic and social inequality is what led to the terrible living conditions as described in Jacob Riis’ How the Other Half Lives. In his pioneering work of photojournalism, Jacob Riis draws attention to the horrifying living conditions in the poor slums of New York. Although there were many reasons for the terrible living conditions, three of the most influential...
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