...Fannie Mae and Freddie Mac Fannie Mae and Freddie Mac are private corporations that were established by Congress and are referred to as government sponsored enterprises or GSEs. They are the largest “packagers” of individual mortgages into mortgage backed securities (MBS) which they guarantee against loss. We will be addressing the following threats to your financial institutions stability. Counterparty risk. Internal and external vulnerability and threats. Stemming the tide of losses from overly aggressive practices in lending continues to retard the marketplace and has yet to reach equilibrium. The use of macro measures is of critical importance in returning the company to profitability. \ The use of Macroeconomic Measures, Using Aggregate Data. These measures approach threats to financial stability from the top down: Is aggregate credit growing too fast? Are credit underwriting standards falling? Are asset prices too high relative to fundamentals? “In an internal boom-bust cycle, an initial market upswing entices new investors and rising prices until additional capital or investors’ nerves are exhausted.”(Evanoff, Kaufman, and Malliaris, 2012). “This process can be amplified by capital rules that encourage banks to increase leverage when the economy is expanding and loan losses are low.” (Hanson, Kashyap, and Stein, 2011). “In the ensuing bust, a credit crunch can occur as participants switch from lending too much to lending too little.” (Brunnermeier, 2009). A selling...
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...MERCK AND RIVER BLINDNESS 1. Think about the definition of stakeholders — any parties with a stake in the organization’s actions or performance. Who are the stakeholders in this situation? How many can you list? On what basis would you rank them in importance? People suffering from the disease or those who potentially may be infected – would directly benefit from the cure Merck employees at all levels – profitability and the economic health of the company affects current employees Merck shareholders – inability to profit from the drug might have a negative effect on shareholder’s value, but taking the stand on “doing the right thing” might have a favorable effect on company’s reputation and increase the value of the stock Various healthcare organizations – Merck is one of the leaders in the industry whose actions or inactions may affect the state of the industry as a whole One way to rank stakeholders in importance is by their level of benefit from the drug putting people suffering from the disease in the first place as they would benefit the most from the invent of the cure. Then, employees and shareholders would share the second place, provided that the company would most likely not be able to recover funds invested in the long and expensive process of developing the drug which in turn would affect company’s profitability. Finally, various healthcare organizations would rank third; the effect on them would depend on the level of their involvement in the process...
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...In his prologue to Daphnis and Chloe, Longus refers to his four books as “a0na/qhma me\n7!Eroti kai\ Nu/mfaij kai\ Pani/” (Pr 2.3-4). Coming before any of the action of the novel, the reader asks, and for good reason, why these three gods or sets of gods? Then in the final book, Daphnis gives “a0naqh/mata…tw~| Dionu/sw|…tw~| Pani\...tai~j Nu/mfaij” (4.26.6-8). Here Dionysus has filled the place of Eros, or, as I shall argue, Dionysus represents the same universal force as Eros in the earlier books. These divinities, Eros/Dionysus, Pan, and the Nymphs, directly influence the lives of the titular protagonists. Their influence serves different purposes depending on what the situation calls for, but, overall, the influences could be labeled as such: Eros/Dionysus controls their lives, the Nymphs nurture the youths, and Pan enflames their passion. In many Greek novels, Eros functions as a stock figure, “not much more than a convenient method of setting [the] plot in motion” (Turner 119). Critics have heavily studied the role of Eros in this novel, and many find that the text of Daphnis and Chloe can be seen as an introductory text for syncretic monotheistic religions, specifically that of Orphic Dionysus. This argument holds valid, yet, I think, over reads the text, and Chalk admits as an introductory text, it is merely “allusive” and not clearly instructive (36). Philetas certainly describes the “cosmic Eros” found in Hesiod’s Theognis in his interaction with Eros in his garden...
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...Caso Merck & Co: Evaluación de una oportunidad de licencias de medicamentos El caso está ambientada en el año 2000. Merck & Co. es una compañía global, impulsada por la investigación farmacéutica, investiga, desarrolla, fabrica y comercializa una amplia gama de productos para personas, así como productos de salud animal. Opera directamente a través de empresas conjuntas establecidas y prestas servicios de gestión de productos farmacéuticos (PBM). Durante los últimos 5 años, la compañía ha lanzado 15 nuevos productos de éxito, las drogas más populares han generado la cantidad de $5.7 mil millones en ventas en todo el mundo. Entre 1998 y 1999, un aumento del 20% en las ventas se observó. Merck posee las patentes de los medicamentos más populares, sin embargo, expirará en 2002. Una vez que las patentes han caducado, las ventas disminuirán por los medicamentos genéricos sustitutos y baratos en el mercado. La compañía tiene como objetivo mantener un buen camino en el desarrollo de fármacos, por constante renovación de su cartera, lo que impide la pérdida de ventas de medicamentos que van fuera del tiempo de la patente. Los nuevos fármacos son bien desarrollados por la investigación interna (la mayoría) mediante la colaboración con empresas de biotecnología. El producto: Davanrik Davarnik fue desarrollado por los productos farmacéuticos LAB, un producto farmacéutico pequeño y relativamente joven especializada con compuestos para el tratamiento de trastornos neurológicos. Originalmente...
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...Story Tiffany & Co. is created by Charles Lewis Tiffany and John B. Young (then known as Tiffany & Young, a stationery and fancy goods emporium at 259 Broadway in New York). All items were marked with a non-negotiable selling price, which was a first at that time. The first day’s sales total $4.98. 1837: Introduction of the Tiffany Blue Box The well-known shade of blue was chosen to symbolize the company’s renowned reputation for quality and craftsmanship. The colour is well known globally and widely used on Tiffany & Co. boxes, catalogues, shopping bags, brochures and in their advertising mediums. Today, it has become Tiffany & Co’s trademark colour. No box can be taken out of a Tiffany & Co. store except with an article which has been sold by them. This adds to the exclusivity of the brand. The tradition of the famed Tiffany Blue Box has endured over the years as its contents are unsurpassable in quality and design. 1845: The First Blue Book The first ever Tiffany catalogue is published. This tradition still continues at present day. 1851: The Heritage of Tiffany Silver Tiffany becomes the first American company to use the 925/1000 sterling standards which is later adopted as the United States Sterling Standard. Tiffany’s silver designs also start capturing attention worldwide. 1853: Tiffany & Co. is “Officially” Named Charles Tiffany assumes control of the company and renames it. 1867: Tiffany & Co. at the Paris Exposition Universelle Tiffany & Co becomes the first...
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...It starts with an idea s t a g e s o f innovation Best Practices in Brand Extension: Effective Application of Brand Recognition BRAND EQUITY CAN BE DIVIDED INTO THREE COMPONENTS: EXPERTISE, EMOTIONAL ATTACHMENTS AND PRODUCT ATTRIBUTES Brand extensions are an effective and popular method of gaining a competitive advantage when entering a new product area. Consumers are faced with an increasingly complex and confusing marketplace. The ability of a brand to act as a mental shortcut for consumers, thereby simplifying the decision-making process, makes it one of, it not the, most important asset for a company. The ability of a brand to influence consumer behavior, and its subsequent value to companies, will increase as consumers face a growing amount of information in the marketplace. By placing a well-known brand on a new product, a company can imbue that product with all the positive associations of that brand, thereby giving it a competitive advantage. With some estimates of the failure rate for new products at 90%, the added value of being associated with a trusted brand can be critical to a new product’s survival. Given the increasing value of established brands and the difficulty in launching new products, the popularity of brand extensions is understandable. However, the brand extension process must be carefully planned in order to insure the value of the brand is successfully transferred to the extension without jeopardizing the brand’s equity. To do so, a company...
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...THE MAIN STRATEGIC PROBLEMS PROBLEM: ‘Tiffany’ was very focused on their brand name. In most of the cases it is very good for a company and for Tiffany it would be right decision as well but the management preferred to do it starting from the bottom point. In my opinion, it was wrong decision. The company put very high prices on jewelries which do not have very high value according to the materials, and furthermore the company did not have the name what would attract people to buy its products. The company had chosen fundamental strategy to keep their name up and make it more famous. The second strategic fault, in my view, was the licensing the Tiffany brand to an Italian fashion-eyewear manufacturer – it means they have no control over the products which are produced by other company, so most probably the quality also will not be the same. It can be the reason for sales to fall down. Solution 1: I think they should have licensed the name for other sphere of production – this point would assure people that the products they used to buy from Tiffany are still made by the same way, and quality is going to be saved as usual. Solution 2: I would enhance the range of the products, and at the same time to have a control over of their quality. I think, in this case the sales would go up with the income. Recommendation: In my opinion the second solution would be better for this case. According to the Tiffany’s history: in most of the times the company was making decision exactly...
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... Managing Brand Extensions Brand Mix ▪ Definitions ▪ Breadth and Depth of Brand Mix Brand Extensions ▪ How to make brand extensions? ▪ Advantages and disadvantages ▪ Examples 1.2 A company may have more than one brands in different product categories It is critical that the firm can help consumers understand its products and services and organize them in their minds. The brand-product matrix help to characterize and formulate branding strategies by defining various relationships among brands and products. 1.3 The brand-product matrix A graphical representation of all the brands and products sold by the firm Brands rows Products columns 1 A Brands B Products 2 3 4 C 1.4 P&G Matrix Shampoo Cosmetics Toothpaste Toothbrush Floss Brands 1.5 Definitions Brand line ▪ All products sold under a particular brand 1.6 P&G Matrix Brand Line 1.7 Definitions Brand line Brand portfolio ▪ The set of all brands in a particular category 1.8 P&G Matrix Brand Portfolio 1.9 Definitions Brand line Brand portfolio Brand mix ▪ The set of all brands that a particular seller/company makes available to buyers 1.10 P&G Matrix Brand Mix 1.11 Breadth of brand mix How many different products should we carry? (Whether we should go into a product category?) ▪ Aggregate market factors ▪ ▪ ▪ ▪ ▪ Market size Market growth...
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...hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in the world hp is the best company in...
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...Conflict and Change Harvard Case Study Professor: Robert Lazer PhD Team: Zerrin Hejazi, Mark Klabonski, Elizabeth Lamb, Hari Thenneti Pandurangamoorthi, & Hareshkumar Surani The History of Merck U.S. sales office opened in and George Merck, Heinrich’s grandson, was appointed head of the U.S. branch Friedrich Jacob Merck opened Merck in Germany 1668 1827 Heinrich E Merck transformed the business and Merck began manufacturing 1887 Merck merged with Philadelphia pharmacy Sharp & Dohme 1891 The renamed company Merck & Co. opens for business 1953 2009 Merck merged with ScheringPlough Corporation and Organon BioSciences Pharmaceutical Industry • The average drug development time is over fifteen years with an average R&D expenditure of $800 million. • The FDA requires three phases of testing to assess safety and effectiveness. o Test results dictate what is displayed on the drug’s label and how the doctor will prescribe it. • Follow-up studies (Phase 5) can be performed to assess the drug after market release (Phase 4) and amend the drug label for improved sales. Pharmaceutical Success • 1981 to 2001, Merck experienced an upward trend on several industry metrics. • Their Return on Sales (ROS) for their Human Pharma line peaked at just over 40% in 2001 with an average of 24% . • The early 1990’s exhibited a downward trend just prior to Gilmartin assuming the role of CEO. Pharmaceutical Success ...
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...requires further explanation to provide greater accuracy within the analysis. The two main areas for development within the question are the terms strategic and tactical. Strategic can be defined as 'relating to the gaining of overall or long-term military advantage'1 Tactical on the other hand can be defined as 'relating to or constituting actions carefully planned to gain a specific military end.'2 The Allied invasion of Sicily, codenamed OP HUSKY, was one of the major campaigns and naval landings of World War II. It began on the night of 9th - 10th July 1943 and was a combination of a large scale amphibious and fairborne operation proceeded by a six weeks of inland combat. The first strategic lesson that can be learnt is the need for co-ordination and integration of all arms and services into the initial planning phase and also during the execution of any operation, a key example of evidence to support this is during OP FUSTAIN. OP FUSTAIN was a mission to capture the Primosole bridge over the Simeto river. This bridge was vital ground for both the German/ Sicilian forces and the allied troops. It was the one major crossing point that would allow for the movement of...
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...Abercrombie's Ruehl NO. 925 Abercrombie & Fitch Company was founded in 1892 in New York City by David T Abercrombie and Ezra H. Fitch. Abercrombie, a former prospector, miner, trapper, and railroad surveyor, originally produced camping equipment in lower Manhattan; Fitch, one of his customers, was a successful lawyer in Kingston, New York, who loved the outdoors. The two men put their interests and opened a sporting goods store. By 1910, the company began selling women clothing, and became the first store in New York to supply clothing to women as well as men. Abercrombie & Fitch Company is a clothing retailer marketed toward the young people, from children to young adults. Abercrombie considers its clothing a "lifestyle brand," others have railed against its often sexually explicit tees and over-the-top marketing campaigns. The company oversees more than 800 stores nationwide, of which about 175 are its children's brand, abercrombie, and 260 are Hollister Company stores. Its latest in a concept, Ruehl, debuted in Ohio in 2004 appealing to more mature buyers. Abercrombie & Fitch is following a differentiated marketing strategy that appeals to the four target markets: Abercrombie Kids is geared for (7 to 14 year olds), Hollister targets (14 to 18 year olds), Abercrombie & Fitch aims for (18 to 22 year olds), Ruehl NO. 925 (22 to 35 year olds). Differentiated marketing aims at two or more distinct consumer groups, with different retailing approaches for each...
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...Day of Peace staffed by employees of both companies and selling a burger called the McWhopper, a combination of the Big Mac and the Whopper, the best-selling burgers at McDonald’s and Buryesger King. Sales are to be donated to Peace One Day, a nonprofit organization in pursuit to raise awareness of the International Day of Peace. Burger King is proposing that corporate activism on this scale would create mass awareness and awareness creates action and action saves lives. McDonald’s has not formally accepted the proposal but as tweeted by chief executive Steve Easterbrook, “We love the intention but think our two brands could do something bigger to make a difference.” Burger King used numerous different marketing strategies with the intent of this proposal with alliance marketing coming to mind first. Alliance marketing is marketing activity undertaken by more than one entity, jointly to promote and sell a concept, product or service, which has benefit to all the stakeholders. Obviously neither company would see any proceeds in terms of dollars from this joint venture it would most definitely create more exposure for each brand especially Burger King. Currently McDonald’s is atop the fast-food burger industry and Burger King just lost its runner up position to Wendy’s so more exposure is most definitely an intent of theirs with the proposition. Marketing co-operations is also being applied here being that there is a partnership of at least two...
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...FI 398 Paper on Liar’s Poker The History of the Secondary Mortgage Market The secondary mortgage market is one of the richest asset classes in the world today. This market is formed by the trading of securities that are backed by commercial and residential mortgages. There are two main assets that are traded. These are Mortgage Backed Securities (MBS), and Collateralized Mortgage Obligations (CMOs). These two distinct asset classes make the market a very profitable one for many large investment corporations. Thanks to legislative action, most notably when Michael Lewis said, “From the early 1930s legislators had created a portfolio of incentives for Americans to borrow money to buy their homes”(121). These legislative policies made owning your own home something more attractive, because borrowing for it went on to benefit you for tax purposes. In the 1970s, the nation’s mortgage portfolio was booming in growth. As Lewis noted, “the volume of outstanding mortgage loans swelled from $55 billion in 1950 to $700 billion in 1976. In January 1980 that figure became $1.2 trillion, and the mortgage market surpassed the combined United States stock markets as the largest capital market in the world”(122). These are truly shocking numbers. The growth in the industry was completely unforeseen. While there are several similarities between mortgages and bonds, particularly after the development of MBS and CMOs, they are also different. The main difference is that bonds...
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...concerns back to senior leaders so that the change plan can be adjusted as needed. If your organization has a change council, ask to be part of it. If it doesn’t, offer to help organize one. For change leaders, there is no replacement for direct feedback as to how communications, plans, and new projects are being perceived in the field. 8. Help other employees cope with change. Even if you’re excited about change, not everyone will be. Some team members might feel confused, angry, frustrated, or exploited. To make the transition easier for them, first, be on the lookout for signals that someone needs help coping: absenteeism, depressed or despondent behavior, or attacks on team members. You might intervene one-on-one, or help steer a bickering session into a change session. You can also help others cope through active listening. Try to act as a sounding board, and help the other person reduce emotionality and increase rational discussion. 9. Encourage communication among your peers. Remember, the sum of the parts is always greater than individual contribution levels added together. So, regularly ask yourself how you can help build a better organization by diffusing confusion, expediting the flow of information, or reaching out to others. Communication between peers and through management helps make your job easier in a number of ways. It uncovers what is valuable to the business and what is not, it minimizes the amount of time required to achieve goals, and it maximizes productivity...
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