The Legal Problem Of Regulation And Marijuana - 1565 Words

Regulation and Marijuana Since 1863, the United States has had a dual banking system composed of both federal and state chartered institutions. This means that banks and other financial institutions have the option of choosing between a federal charter issued by the Office of the Comptroller of the Currency or a state charter from a state banking regulator (Hill, 2014, p. 8). When it comes to marijuana banking however, federal regulation holds all the power. â€Å"Under federal law, marijuana is still classed as a Schedule I drug which means that it is not legal in any form, including for medical purposes† (Erb, 2015). Federal financial regulators have complete authority to punish institutions that do not comply with federal law. Aaron Smith, executive director of the National Cannabis Industry Association calls the lack of banking services â€Å"the most urgent issue facing the legal cannabis industry today† (Sullum, 2014). Without help from Congress to bring down these walls, most finan cial institutions will not provide their services to those in the marijuana industry. The risk is simply too great. Also, if financial institutions continue to be federally liable for the illegal actions of their potential marijuana business customers, financial services will continue to be unavailable. The next few sections will look at some of the obstacles facing the marijuana industry, specifically how the federal laws are preventing businesses from gaining access to financial services.Show MoreRelated Drugs and Alcohol Essay1599 Words   |  7 Pagesrecreational use. In the United States, marijuana has been and continues to be a very controversial drug. Some states have allowed marijuana consumption for medicinal purposes, while others have completely outlawed the drug. Those who are against the legalization and regulation of marijuana suggest the economical and health risk associated with consumption of the drug are too high. Although there is risk involved with the le galization of the marijuana, our country has already been risking tooRead MoreShould Marijuana Be Legalized? Essay1685 Words   |  7 Pagesof medical marijuana. However, the amount of licensed medical marijuana card holders was small until 2009, when the U.S Attorney General gave the prosecution and legalization of marijuana over to the states. After this, the number of medical marijuana licenses increased greatly in Colorado. Then, in 2012, the sale of recreational marijuana was legalized in Colorado, to all those over the age of 21, and retail stores began selling marijuana in 2014 (Monte). Public opinion on Marijuana is generallyRead MoreShould Marijuana Be Legal?1384 Words   |  6 Pages When hearing the word marijuana, we instantly think a â€Å"dangerous drug,† because that is what we are taught growing up. That there are different types of drugs that are dangerous for us and will only harm our health and our future. Growing up with this information as children, we do not really have other reasoning so we just take in the information and accept it. This information which was given to us at a young age is only questioned after we start to age. If research is actually done in order toRead MoreMarijuana Legalization Why is it the Best Choice for America?1306 Words   |  6 PagesMarijuana, the most abused drug in America, has had a lot of publicity recently. Marijuana has caused multiple economic problems within the U.S. A controversial question has arisen from the increased popularity and troubles of this drug. The question is whether or not the U.S. government should legalize marijuana possession and sale in the country. Many Americans believe that the drug should be legalized for various reasons; others, however, are against the legalization of the dangerous drug. WhileRead MoreWhy Marijuana Should Be Legal1641 Words   |  7 PagesAbstract Recognizing that marijuana will be in the market for a while, this paper will pinpoint detailed information on the production, transportation, effects of marijuana, and its effective control. The review of the claims integrated in the paper offers evidence and conclusive results of the local and foreign production. While using marijuana can be unsafe to a person, it is not as nearly as harmful as the stereotypes about marijuana claim to be. Furthermore, the drug seems to be well establishedRead MoreShould Marijuana Be Legalized?1475 Words   |  6 PagesMARIJUANA HAS BEEN REGULATED SUCCESSFULLY BY STATE AND FOREIGN GOVERNMENTS There are many places where we can find marijuana successfully legalized, both by individual states here in the United States and by Federal governments abroad. I’ll start by introducing an example here in the U.S.: Colorado. On November 6, 2012, the citizens of Colorado voted in favor of Amendment 64 which allowed for the personal use and regulation of Marijuana (Ferner, 2014). Through this legislation came the ColoradoRead MoreShould Marijuana Be Legalized?1314 Words   |  6 PagesMarijuana, also known as cannabis, has been deemed an unacceptable and illegal substance in Canada, as well as in many other nations. It is a drug which can alter an individual’s sense of perception and distort one’s senses, and may become addictive if used repeatedly. Although marijuana is looked down upon in society when used for recreational purposes, it serves several beneficial purposes in the medical field. The legalization of marijuana is a prominent growing issue in sever al Canadian provincesRead MoreShould Marijuana be legalized?703 Words   |  3 PagesMarijuana has been given a bad image by the media and government, but it is actually a very effective drug. The dispute about medical marijuana is a becoming a major topic and it should be addressed. Marijuana is the most illicit drug used in the United States and it is less harmful than most legal drugs out there, therefore it should be legalized. Marijuana has been used as a mediator for attaining ecstasy since ancient times. In 1545 the Spanish introduced marijuana to the New World. In 1611Read More Marijuana Legalization Why is it the Best Choice for America?1375 Words   |  6 PagesMarijuana Legalization Why is it the Best Choice for America? Marijuana, the most abused drug in America, has had a lot of publicity recently. Marijuana has caused multiple economic problems within the U.S. A controversial question has arisen from the increased popularity and troubles of this drug. The question is whether or not the U.S. government should legalize marijuana possession and sale in the country. Many Americans believe that the drug should be legalized for various reasons; others,Read MoreThe Drug Prohibition Of The United States Of America1629 Words   |  7 Pagesnotion of souring drug consumption. For instance, in the Netherland and Switzerland, where marijuana is legalized, the consumption rate is lower than in the United States of America, where consumption of Marijuana is prohibited in most of the states. This study argues for the legalization of the consumption of drugs and decriminalization of possession and use of drugs in the United States of America. Drugs were legal for many years before the 1914 Harrison Act. The period of massive availability of drugs

The Best Days Of My Life - 2382 Words

Hanging with my grandmother are some the best days of my life. I remember when I felt sick in school my mom and dad could not pick me up, so my grandma left work to come and pick me up. My Grandma made me feel better, she cooked for me and we both shared some laughs. Looking back on those days, I can see just how amazing my gram truly is, but I know that every day in life can t be a sunny and pain free. Recently I interviewed my grandma. We talked about her life from childhood to adulthood, also we spoke on some of her adversities in life. After speaking with my grandma I did research on her adversity. Initially, I sat down and interviewed my Grandma which she talks about her life from different aspect including her childhood, college years, education, and her employment. My Grandma told me that she does office work and is a secretary. She has done office work for over twenty years and that is what she currently does for a living. She really enjoys her job in the office. When asked what do you find rewarding about your professional life she replied with an eager smile , â€Å" I find being able to help other people the most rewarding thing about my professional life, because I enjoy helping people anyway I can†. I remember on a christmas sometime ago she had a gift sent to her home from one of her clients on her doorstep with a letter for her saying how much she changed a young mans life who was dealing with a death in his family. After that question I asked her what thingsShow MoreRelatedBest Days in My Life1094 Words   |  5 PagesENGLISH -119 ESSAY # 1 Best Days in My Life After a long time I went to visit my homeland . Those days were my best days in my life. I mean colorful days in my life. for the first time, after a long time, I saw my grandparents . who were amazed to see me again . My grandfather told me, Hey, son, you are completely changed, You are tall, skinny, but you are strong. 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My best friend knew that I had never been to a concert before, so on my Birthday she gave me tickets to go see The 1975 as a gift. I had been looking forward to the concert for months, and when the day finally came, I felt both nervous and excited to go see one of my favoriteRead MoreThe Best Day Of My Life1816 Words   |  8 PagesToday wasn’t going to be any normal day, today was going to be the best day of my life. I was laying in bed when I heard my phone, I rolled over; and saw the notification that said â€Å" Bieber Concert Today† my face lit right up. I jump out of bed and went down stairs. My mom w as already up and getting ready in her bathroom. We were leaving at eight to go to my cousins in Jonesboro to pick them up and then head to Indianapolis. I made my self some breakfast and then went upstairs to start getting readyRead MoreThe Is The Best Day Of My Life2916 Words   |  12 Pageswith a formula. I have never been so proud in my entire life. It was like I had just won the lottery and the jackpot was 32 billion dollars. Now we could predict how long relationships will last. We can also predict who will break up with whom. I would now become famous and known as the boy who can tell the future. This formula on this small tiny piece of paper would revolutionize the world. Not only all that, but I would have money coming out of my ears. I would change history for the rest of theRead MoreMy Worst Day : The Best Day In My Life1581 Words   |  7 PagesEveryone human in the world has had a horrible day or the best day that they could ever imagine. Most of the time, an individ ual will experience both in their lifetime. For example, death, losing a job, or failing an important class could count as a day that an individual would never repeat. Inversely, finding love, getting accepted into college, or winning the lottery could count as a person’s best experience. 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Strategic Management Report Of Given Imaging Company

Question: Describe about the Strategic Management Report of Given Imaging Company. Answer: Introduction With the increased competition, globalisation, technological advancement and the need to meet unique patient needs have resulted in the need of a rethinking of the companies approach to strategic management. This allows the company to critically evaluate their market, performance as well their competitors and develop various strategies that earn the company a competitive edge over their competitors resulting in maximum shareholder investment returns. This report, however, will focus on Given Imaging's and more specifically its development of Camera pill which is heavily relied on by most medical practitioners to diagnose gastrointestinal tract ailment. Therefore, this report evaluates the strategic management approaches that Given Imaging's deploy to achieve and maintain competitive market advantages. To achieve this, the report firstly discusses the Given Imaging's external environment in terms of the general operating environment, industry environment, and its internal environment. This will be achieved by discussing situational analysis through PESTEL and SWOT techniques. From the analysis, political, economical and cultural environment is found to be favourable to the growth of the company while ecological and legal environment is found to pose a hindrance to the growth of company. The internal environment will be analysed through analysis of companies resources, core competencies and company capabilities to exploit market opportunities. In the SWOT analysis the company is found to enjoy strengths emanating from human resources, distribution and market reach. Weaknesses are high cost of training and high employee turnover which negatively impact the company marketing strategies. The opportunities emanates from political and economic environment while threat are related to ecological and legal environment. The report will discuss various strategic market growth options including expansion to new foreign units, increase advertisement and widening of the service line in the existing market. Finally, the report gives a recommendation based on the discussion and observation of the company. Company Overview According to Iddan and Swain (2004) Given Imaging is an Israel-based company founded in 1998 by Electro-optical Engineer Gavriel Iddan. The founder of the company developed a medical device, Camera pill that used to send visual images of the gastrointestinal tract to help in locating and diagnosing small intestine ailments. In the year 2014, Given Imaging was acquired by Covidien, a Dublin-based company for $860 million which later Medtronic for $49.9 billion in 2015 (CNN, 2014). The acquisition has allowed the enjoy economies of scale, a larger market share access more resources as well more competent personnel in research, managerial and marketing department. Nevertheless before acquisition, the company has enjoy a relatively positive market performance as indicated by tremendous revenues and net income growth between the year 2003 and 2012 as illustrated in the diagram below; Figure 1; Given Imaging financial performance Source: Given Imaging (2013) However, in the early days the company enjoyed a market monopoly in Endoscopy market but later faced intense competition due to increased awareness of the benefits technology. Among the major competitors includes Olympus, IntroMedic, and Fujifilm Holdings To reach its consumers Given Imaging operated its direct sale in various markets in USA, Japan, Canada, Hong Kong, and Latin America countries. This was made possible due to free media advertisement. External Analysis General External Operating Environment Analysis According to Rothaermel, (2015) the popular tool applied in analysing the environment is PESTEL which aid in analysing the external operating environment encompassing social ecological, political, economical and technological factors. Figure 2; PESTEL framework Source; Rothaermel, (2015) Political environment The medical sector industry is to a larger extent affected by the political policies adopted by different countries of operations (Toth, 2010). Among the political factors included stability, taxation, tariffs and trade treaties among the trading countries. These factors directly affect the company policies and budget. Strict control measures adopted by most of the countries in relation to medical equipment hygiene have resulted in increased manufacturing cost. In addition, difference in quality measures in different countries also poses a challenge to the company products (Keating and Loughlin, 2013) Nevertheless, the increased need to meet to offer affordable healthcare to the most of the government in most of countries most countries has positive impact that allows thriving of competitive strategies adopted by firms in the sector Economic environment Although the industry faced challenges during the economic depression, the economic recovery in the major world market has presented a positive outlook for the sector. The improved economic environment implies increased employment rates and higher incomes to the targeted consumers corresponding to the higher earning to the sector. Further, the stabilisation of the inflation and interest rates European and Asian markets provides a stable and predictable market environment for the growth of the industry Holmes et al. 2013). These factors present a favourable environment for companies to implement various strategies without worries of negative economical impact. Socio-economical environment As noted by Lupton (2012), the medical technology industry and health care industry has experienced some great changes in the recent years characterised by increased attention to the promotion of health and well-being of the society as well as incorporating the high standards to the conscious consumers in the market. In addition, the market is composed of highly informed consumers, technology savvy with unique lifestyles that demands unique health products. Nevertheless, the changing lifestyle with higher urbanised society has resulted in increased level of the digestive tract diseases presenting a market to the Medical technology industry players with an opportunity to expand their market in providing solutions (Frenk et al. 2010). These kinds of characteristics coincide to the firms need to aggressively implement various strategies. Ecological environment As noted by (Porter, 2011) consumers are increasingly becoming conscious on the environmental impact of medical products they buy and use. In addition (Haufler, 2013) noted that by virtue, most the medical technology companies are based in European countries and America, they must adhere regulations in regard to waste disposal as set by the individual. To minimise the negative environmental impacts, majority of the medical technology companies have embarked on recycling processes and enforce strict waste disposal mechanisms to avoid heavy penalties imposed on the companies (Brown and Sovacool, 2011). As a result, the companies have faced increased scrutiny and supervision in the manufacturing negatively impacting the company strategies implementation. Legal environment The legal enacted in relation to product safety, employment laws, financial regulations and health safety laws largely affects medical technology, companies productions process, marketing and operations (Tombs and Whyte (2010). These regulations mainly aim at providing consumers assurance that various product in the market distributed under set hygienic conditions. Further, most of the companies have guarantees safety of their product through seals that ensure they are handily faked in the market. Through strict labelling requirements, manufacturers must clearly display the various important details including handling measure and expiry dates. To promote and protect the worker health and safety, most government demands that firms must assess all health and safety risks (Jones Gordon, 2013). On employees, various countries regulation have set the minimum wage, working age as well as maternity leaves durations among the workers. These strict laws, negatively impact firms in the indust ry. These factors impacts negatively the implementation of competitive strategies. Technological environment Among the technological factors that are likely to impact the medical technology companies are related to rate of technology transfer, government spending on research and development as well innovation development in various market (Kumar and Siddharthan, 2013). More specifically, increased usage of mobile technology and internet where almost all adult have access have result to high reliance on technology to market and monitor distribution of the medical equipment. To market their product most of the companies have resulted to online platforms to reach out to existing and new consumers. To support the industry, the government have increased their investment in the medical field by increasing the budget allocations, building training facilities as well as expanding research and development centres in their respective countries (Jakovljevic, 2013). Some governments like UK have offered subsidies to the companies in the medical technology to promote growth of the industry. The Industry Environment Analysis The sector environment has a direct effect on the company's strategic competitiveness in the whole sector. This environment is analysed through five forces of competition as discussed below: Threat of new entrants New entrant threat is posed by both direct and indirect competitors who are appealing to new markets and rivalling the firms on prices and customer choices (Robinson, 2009). The medical technology industry is a small and a very competitive. As such, in an attempt to enter the highly lucrative market few companies enter the market every year. This can be attributed to high cost and regulation in the medical sector (Enthoven, 2014). For Given Imaging is reputed as among the industry pioneers been around for over two decades with a history of quality and innovative products that meets the consumer expectations (CNN, 2014). In addition the health sector in the last decade have experienced high rate of mergers and acquisitions further inhibiting success of new market entrant thus allowing already established companies to enjoy a considerable share of the market (Gassmann et al., 2013). Overall, these factors makes the threat of new entrants is moderate in medical technology sector. Bargaining power of suppliers Given Imaging has a market reputation especially in Israel of maintaining positive relationships with suppliers CNN, 2014). However, due to scarcity of the raw materials required in the in the production, the supplies of Given Imaging hold a considerable power to the company. Nevertheless, the company prefers to preserve and find new suppliers with the aim of establishing long-term relationships with them thus achieving a constant flow of the raw materials (Given Imaging, 2013). Further, the firm advises supplier to help them cut on the unnecessary cost further cementing their relationships. Bargaining power of buyers The innovativeness and unique of the Given Imaging CAMERA PILL offered it a considerable power over its consumers (Given Imaging, 2013). The patent laws allowed the company to enjoy considerable market dominance for few years. However, the company understand the need of the consumers as well the market trends and strived to meet them. More specifically, Given Imaging has endeavoured to incorporate health and wellness into the creation of its products as society has started becoming more health conscious (Given Imaging, 2013). Threat of substitutes According to (Peng, 2013), threat of products substitute occurs when products or services produced by different companies and that meet needs of the consumers in the market. Ideally, the high profitability in medical technology tend to attract many potential entrants. This is also exacerbated by the favourable economic conditions and medical technological advancement in various countries. However, the threat of substitutes is relatively moderate (Russell, 2010). This can be attributed to the high cost and technological advancement required for the company to produce a similar product. Intensity of rivalry among competitors Hill and Jones (2011) noted that competitive rivalry is the intensity of business rivalry among established firms in any given competitive sector. This results to struggle by the market players gaining the market share of each other in various markets. The major competitors in medical technology facing Given Imaging Company include Olympus, IntroMedic and Fujifilm Holdings (Given Imaging, 2013). The competition is further heightened by the imitation of strategies adopted by rivals. However, high customer loyalty and reputable brand name as well mergers and acquisition have resulted lower rivalry intensity in the industry. Internal company environment analysis The value chain model undertakes a looking inside-out perspective of the companys primary and support activities. The primary activities are marketing and sales and operations inbound and outbound logistics, while support activities include the companys infrastructure, human resource, procurement and technology (Husted et al, 2010). This is as indicated in diagram below; Figure 3; Support and primary activities in value chain model. Source: Kurtz (2012) Primary activities and support activities The primary activities at Given Imaging Corporation entail production, distribution, and marketing of its produce digital medical device, Camera Pill to various markets worldwide (Given image.com, 2014). The company usually sources the raw materials across the world. The companys business strategy gives it an excellent value based and priced raw material and services due to the cost advantages resulting from negotiations with various regional and global suppliers. The establishment of the various operating centers with collaboration with major hospitals allowed the easily their customers in those markets. In addition, Given Imaging operates a supply management system and marketing strategies that seek to ensure continuity and safety of inventory avoiding stock-outs. Support activities Human resource, legal and taxation policies by the governments are the major challenges that face Given Imaging operation in various markets worldwide. To navigate this, the company has restructured its Human resource strategy with a view to attracting and retain the best talents. Through this strategy has enabled the company to hire and retain best talents. This has allowed employing over 800 highly qualified medical technology specialists (Given image, 2013). The organisation workforce mostly is sourced from the local population and trained on the best practices to serve the company. This helps them to focus on their customers world over without being constrained by language, physical and cultural barriers. The company has also relied on Technology in its communication with clientele and customers through their interaction with the customers through their official website and social networks such as Facebook and Twitter (Given image.com, 2014). This helps the management to get cons umer feedback at a reduced cost. Nevertheless, faces high employee turnover mainly due poaching from competitors in various markets especially Asian countries. SWOT analysis Strengths Human Resources; the company had over 800 highly qualified employees to offer service to the client. This gives the company ability to professionally and effectively various competitive strategies Strong distribution network. This gives the company an ability to competitive reach various market effectively and efficiently. Active online communicates that cut on cost of communication A strong network of global sales teams especially in European and American markets that offer the companys a competitive advantage in reaching various regions Strong supplier relationships that help the company avoid shortages in raw materials need in production process Weaknesses High employees turnover due to poaching by rivals that negatively impacts on implementation of strategies developed High cost of training and retaining employees, reducing available resources from the core activities Limited scope of production which was based in Israel that constrains the applicability of the global strategies developed. Opportunities Improvement in the global economy and increased spending power of consumers. Increasing income level among the citizens that results to higher consumer base. Support by various government allow implementation of various competitive strategies Threats Over regulation of the sector that hinders the applicability of some strategies Unfavourable and unpredictable tax policies that negatively finances. Current strategies According to Porter (2009), there are three broad strategies need in creating a strong market position and outperforming competitors, namely product differentiation, cost leadership and focus strategies. According to Johnson et al. (2010), these generic strategies enable a firm to gain a competitive advantage over the competitors. In regard to differentiation strategy Given Imaging company, emphasises on offering products that are perceived in the industry as being unique and innovative by consumers (Given image, 2013). This is achieved by having a different design of Camera Pill and adoption of new technology. Market and product differentiation as applied by the company is strong and defendable for earning above average returns. According to (Kurtz, 2012), for a firm to position itself accordingly, the firms need to have unique products with desirable attributes attracts premium prices among the consumers. This is achieved by creating strong brand loyalty, the uniqueness of the prod ucts offered to consumers and buyer mitigation since they have limited alternatives. To achieve effective differentiation, the company has adopted a strong marketing skills, applied research, and development. However this is faced with a challenge of differentiation are; The Consumers need for differentiation may fall, high imitation of the products decreases perceived differentiation, high cost. In the cost leadership strategy, the company has persistently lowered cost of production by the adoption of latest technologies. This enables the firm to offer a product at comparatively low prices without compromising the quality of the product and thus earning the company a competitive advantage in the market. Conclusions and Recommendation The external environmental analysis shows political, social and technological factor favour the growth of the industry. However, the overregulation and strict government supervision make legal and ecological factors be a hindrance to sectors growth. On the industry environment analysis indicates that the threat of new entrant is low, suppliers bargaining power of is high while bargaining power of buyer is moderate. The intensity among competitors the supermarket is considered low. The internal analysis shows that Given Imaging has engaged well with suppliers well and enhanced quality control of procured materials as well as liaising with more suppliers. Their key strength is customer loyalty and uniqueness of the products, while the price is the key weaknesses. Strategy imitation is the key threats. However high staff turnover poses a great challenge due to costs associated with training. Recommendation Given imaging should apply differentiation strategy. This is due to imitation in the market which similar products at almost equal prices. This can be achieved by producing their product and pricing them differently according to the targeted group. The strategy is most appropriate since it is likely to insulate Given Imaging products from competitive rivalry by creating brand loyalty. It also brings the uniqueness of the product and thus reducing the threat of substitutes in the market as well as creating a barrier to market entry. References Brown, MA Sovacool, BK 2011, Climate change and global energy security: technology and policy options, Boston: MIT Press. CNN 2014, Medtronic buys Covidien for $42.9 billion. Retrieved from https://money.cnn.com/2014/06/15/investing/medtronic-covidien/ (Accessed on 14th octomber 2016) Enthoven, AC 2014, Theory and practice of managed competition in health care finance, London: Elsevier. Hill, C and Jones, G 2011, Essentials of Strategic Management.3rd edn, New York: Cengage Learning. Frenk, J, Chen, L, Bhutta, ZA, Cohen, J, Crisp, N, Evans, T, Fineberg, H, Garcia, PKe, Y, Kelley, P. and Kistnasamy, B 2010, Health professionals for a new century: transforming education to strengthen health systems in an interdependent worldThe lancet,vol.376, no.9756, pp.1923-1958. Jakovljevic, MB 2013, Resource allocation strategies in Southeastern European health policy,The European Journal of Health Economics,vol.14 no.2, pp. 153-159. Gassmann, O, Reepmeyer, G von Zedtwitz, M 2013, Leading pharmaceutical innovation: Trends and drivers for growth in the pharmaceutical industry, Berlin: Springer Science Business Media. Given image.com 2014, Pill cam. Retrieved from: https://www.givenimaging.com/en-int/PressKitDocuments/PillCam%20SB%20Patient%20Brochure.pdf (Accessed on 14th October 2016) Given Imaging 2013, Help Centre Retrieved from: https://www.givenimaging.com/en-us/Innovative-Solutions/ProductSupport/pillcamhelpcenter/Additional%20Resources/Documents/PillCam%20CE%20UM%20RAPID%20v8%20EN%20SCA.pdf (accessed on 14th October 2016) Haufler, V 2013, A public role for the private sector: Industry self-regulation in a global economy, USA: Carnegie Endowment. Hill, C Jones, G 2011, Essentials of Strategic Management.3rd edn, New York: Cengage Learning. Holmes, RM, Miller, T, Hitt, MA Salmador, MP 2013, The interrelationships among informal institutions, formal institutions, and inward foreign direct investment, Journal of Management,vol.39, no.2,pp. 531-566. Husted, K, Foss, NJ Michailova, S 2010, Governing knowledge sharing in organizations: Levels of analysis, governance mechanisms, and research directions,Journal of Management studies,vol.47, no.3, 455-482. Iddan, GJ Swain, CP 2004, History and development of capsule endoscopy, Gastrointestinal endoscopy clinics of North America,vol.14, no.1, pp. 1-9. Jones, SC Gordon, R 2013, 'Regulation of alcohol advertising: Policy options for Australia', Evidence Base, pp. 1-23. Keating, M Loughlin, J 2013,The political economy of regionalism, London: Routledge. Kozlowski, A 2012, Corporate social responsibility in the apparel industry: a multiple case study analysis, Kumar, N Siddharthan, NS 2013, Technology, Market Structure and Internationalization: Issues and Policies for Developing Countries, London: Routledge Kurtz, DL 2012,Boone Kurtz contemporary marketing / David L. Kurtz. Mason, OH: South-Western Cengage Learning. Lupton, D2012 Medicine as culture: Illness, disease and the body, UK: Sage. Peng, M 2013, Global strategy 3rdedn, New York: Cengage Learning. Rothaermel, FT 2015, Strategic management, London: McGraw-Hill. Russell, L 2010, Technology in hospitals: medical advances and their diffusion, Oxford: Brookings Institution Press. Tombs, S Whyte, D 2010, A Deadly Consensus Worker Safety and Regulatory Degradation under New Labour, British journal of criminology,vol.50,no.1, pp. 46-65. Toth, F 2010, Healthcare policies over the last 20 years: Reforms and counter-reforms, Health Policy,vol.95, no.1, pp. 82-89.

Porters Five Forces Analysis †Chinese Fireworks Industry

Table of Contents Threat of new entrants Threat of substitute products Bargaining power of suppliers Competitive rivalry within the industry Bargaining power of consumers Conclusion References After carefully conducting Porter’s 5 forces analysis for the Chinese Fireworks Industry, the following rating was established.Advertising We will write a custom case study sample on Porter’s Five Forces Analysis – Chinese Fireworks Industry specifically for you for only $16.05 $11/page Learn More Porter’s Force Rating Threat of new entrants High Threat of substitute products Medium Bargaining power of suppliers High Intensity rivalry within the industry High Bargaining power of consumers Medium Threat of new entrants As it has been observed, the widely spread expertise and knowledge of fireworks manufacturing among the Chinese people has increased the chances of new entrants in the industry (Jiang, 2010). With the ma nufacturing of the fireworks having its origin at family-level, there are high chances of new firms to be established in the industry. As a result, there is high possibility that profitability in the industry will decline significantly as more firms enter into the industry (Porter, 2008). Threat of substitute products There are moderate chances of the products in the fireworks industry in China to be substituted. The technology adopted in the manufacture of the products is sustainable with the availability of the raw materials being of steady supply (Jiang, 2010). However, emerging technologies have given rise to nuclear-based explosives which are higher expensive that the ones made in the firms in the Chinese Fireworks Industry. With these nuclear-based explosives being less affordable than those from gun-powder, chances are moderate that the products in the Chinese Fireworks Industry will be substituted. As a result, the substitutability of products in the industry can be rated as ‘medium’ as shown in the diagram above (Porter, 2008). Bargaining power of suppliers With the widespread of explosives manufacturing skills among the Chinese culture, right from the family level, there has been sustainable supply of labor in the industry (Jiang, 2010). Further, the high availability of raw materials used in the manufacture of explosives in China has made the Fireworks industry posses high bargaining power of suppliers. As it has been observed, China’s fireworks industry is one of the potential suppliers of commercial explosives in the global markets as a result of the high bargaining power of the suppliers. With high level of expertise and wide availability of raw materials, the industry has been rated ‘high’ in the Porter’s industry analysis. Competitive rivalry within the industry With the availability of expertise in China for the manufacturing of explosives, high level of rivalry has been experienced in the industry (Jian g, 2010). Many firms have been established, with high level of innovations remaining explicit as firms seek to establish competitive advantage.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result of high level of rivalry in the Fireworks Industry in China, firms have been devising powerful competitive strategies making the industry to remain dominant in the global markets. It is the high level of competition within the industry that has contributed to high level of competitiveness of the industry in the world markets (Porter, 2008). Bargaining power of consumers With the economy of China growing significantly over the recent years, consumer purchasing power has increased as well (Jiang, 2010). However, government regulations on the use of explosives has controlled the purchasing patterns, making the bargaining power of consumers in the industry be ranked as ‘mediumâ€℠¢. The dangers associated with the explosive devises, both to the environment and to individuals, can be attributed to the moderate bargaining power of consumers for fireworks products. Conclusion As it has been observed, the industry analysis of Chinese Fireworks Industry shows that the industry has the potential for better performance in the future. With the high level of rivalry, suppliers bargaining power and threat of new entrants, more innovations are expected in the industry as firms seek competitive advantage in their operations. However, consumers bargaining power and threat for new substitutes remain moderate, a situation which seems to regulate profitability in the industry as prices are largely controlled. References Jiang, R. (2010). The Chinese Fireworks Industry. Richard Ivey School of Business: Ivey Management Services. Porter, M. (2008). The five competitive forces that shape strategy. Harvard Business Review, Vol. 7(3), p.86-104. This case study on Porter’s Five Forces Analysis – Chinese Fireworks Industry was written and submitted by user Frankl1nSt0rm to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.