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The Benefits of the Pharmaceutical Industry

The pharmaceutical industry has been an easy target for critics over the years. There is a perception that “Big Pharma” is strictly out for profit and that pharmaceutical companies will stop at nothing to line the pockets of their shareholders. The reality is this: Many of these drugs are saving lives and helping people live happier, healthier lives.

Better Health Outcomes

  • According to the U.S. Bureau of Labor Statistics, the pharmaceutical industry develops and produces products that help treat a variety of diseases, saving millions of lives and helping people suffering from diseases and illnesses to recover and lead more productive lives. The pharmaceutical industry develops drugs that treat every type of condition imaginable, such as influenza, sexually transmitted diseases, cardiovascular disease, diabetes, hepatitis, Parkinson's disease and cancer, to name a few. Many of these are devastating and life-altering diseases, and these products help keep patients alive longer.

Cost

  • While some may view the cost of pharmaceutical drugs as a negative aspect of the industry, you can also see cost as a benefit. According to the Pharmaceutcial Research and Manufacturers of America (PhRMA), the market share of generic pharmaceuticals was between 42 and 58 percent in 2006. What this means is generic drugs are increasingly available to patients, which drives down costs. Most reports in the media discuss the high cost of drugs and lack of access for certain patients, but the reality is that drugs today are cheaper and more accessible than ever before due to increased competition in the marketplace. Additionally, economic development in countries like India and China are driving down global prices for pharmaceutical products even more.

Economic Benefits

  • Pharmaceutical companies employed nearly 300,000 people in the United States in 2008, according to the Bureau of Labor Statistics, and nearly 87 percent of the companies in the pharmaceutical industry employed more than 100 workers in 2008. The tax benefits to the United States are substantial as well. Pfizer alone posted $44 billion worth of revenue in 2008, according to Contract Pharma. The economic climate impacts the pharmaceutical industry, but profitable companies result in more taxable revenue for the U.S. People may criticize this amount of profit from one company, but consider this: The underlying goal of every single business is to make money. People single out pharmaceutical companies for making profits, but it's important to remember that they also create products that save millions of lives.

Careers in the Pharmaceutical Industry

The pharmaceutical industry is one of the most desirable to work for worldwide. There are many reasons for this, but it is principally due to the tremendous benefits and prestige that these companies offer. Research technicians, analysts of every variety, engineers, nurses, doctors, phlebotomists, scientists, biologists, chemists, medical ethicists, microbiologists, geneticists and others such as quality control experts, factory workers and field personnel fill out the careers in this industry.

General Qualifications

  • Due to the complexity and the management of corporate proprietary processes, positions in this industry are highly valued. Higher levels of education are the norm in this industry. Research technicians are one of these positions because they conduct experiments under the watchful eyes of the lead scientist. Bachelors’ degrees are usually the minimum educational requirement, with masters and doctorate degrees preferred in the specialty areas. Workers on the factory floor on the other hand can get by with a high school diploma or General Equivalency Diploma and a certificate of ability to work with forklifts, as an example.
    Educational Background

The Scientist

  • If scientific research is your qualification, the reasons for joining a pharmaceutical company (pharma) may lie in the grand flexibility of conducting various research models or focusing on one thread of a larger spool, such as dedicating years to finding a process that may one day cure a disease.

    After a discovery is found, the process is passed along to the other members of the research team such as the biotechnologist and on to others as well to find any variant that may harm or improve the quality of the newly discovered development or culture.

    Scientist at Work

Some Statistics

  • In 2006, pharma and other medical manufacturing provided over 290,000 positions. Most in-facility positions are located Pennsylvania, New York, Illinois, California, Texas, New Jersey, Indiana, North Carolina and Puerto Rico according to the Bureau of Labor Statistics, there should be a 23.7 increase in all positions by the year 2016. Most workers in the industry have a minimum of a bachelor degree and there are twice as many individuals with degrees as in any other industry.

Pharmaceutical Sales

  • For persons with virtually any type of sales experience, the top of the mountain would be pharmaceutical sales. The benefits are simply outstanding and include a nice car with fun toys and two credit cards, one for gasoline and the other for entertaining customers, which happen to be physicians. The main responsibility is to convince the physician that the product you have works better than the product from the competitor. Physicians are showered with pens, cups, promotional samples, prescription forms and other materials that bear the product’s name and logo.

    Success in the ability to convince physicians to prescribe a particular product is tracked by how much of the product is sold and/or ordered from the pharmacies in the zip code during a given time, which happens to be in the assigned territory.

The Final Word

  • The pharmaceutical industry is a challenging and rewarding place to work, but be aware of companies that make false claims about preparing people to enter the industry by offering certificates of completion and/or training of some sort. Unless a company is recruiting right from the university, chances are that they want people with industry experience or verifiable success in advertising sales. The reason for this is simple: if success is proven in the advertising industry, then you know first hand what rejection is. In pharma sales, you will receive plenty of rejection.

Fashion Industry & How it Works

The fashion industry is a thriving industry, creating the billions of dresses, suits and other clothing and accessories consumers purchase. The fashion industry works in the following way: The process for creating ready-to-wear or haute couture clothing starts with fashion market research and trend forecasting. Designers work to create the apparel drafting. After the design has been approved by the designer, apparel production begins. Once the product is complete, fashion marketing and fashion buying come into play. The process ends with fashion merchandising retail. The product is seen in department stores and high-end boutiques.

History

  • Western fashion has evolved over centuries. The 16th century in Europe saw apparel sewn with broad shoulders and heavy-cut velvet decorated by intricate lace and fine gold. This was especially seen in the fashion worn by aristocrats. Fast-forward two centuries, and women’s fashion consisted of domed skirts and cinched waists. Western society leaped into the 20th century with short skirts baring leg. As the fashion industry has evolved, designers have perfected new designs and brought into style new fabrics.

    In the 19th century, English settlers brought the textile industry to the U.S. Women in the U.S. during the 1800s had their dresses tailor-made. As the tailors noticed similarities among the women for whom they sewed, they developed patterns. Hence, pattern making was born. Apprentices learned the patterns and how to make them, becoming designers and dressmakers. The fashion industry continued to evolve into the mega-marketing industry it has now become.

Significance

  • The fashion industry is made up of clothing manufacturers, designers, models, behind-the-scenes make-up and hair artists, merchandisers and buyers. The single element common among these roles is that these professions are extremely creative. Each professional has been trained in a highly specialized field.

    The fashion industry is important to the culture of each society, as the byproducts of each designer provide a style or identification of the person wearing the clothes. Style is an identity marker, and the fashion industry is essential to transforming individuals solely by what they wear.

Function

  • Aside from designing one-piece wonders for elite clientele such as Hollywood mega stars, which serves as a catalyst for more economical couture designs, the fashion industry clothes us all. Be it famous brand-name jeans or brands marketed solely by retail chain stores, the fashion industry is the source of all the designs, material choices and marketing via models showing off the clothes on Paris, Milan or New York runways.

Types

  • The fashion industry is composed of two primary sectors: ready-to-wear (couture) and haute couture (high fashion). Ready-to-wear makes up the bulk of fashion because it is less expensive than haute couture and far more easily accessible. Designers showing promise might make their mark designing haute couture.

Geography

  • The fashion industry spans the globe. Western societies have metamorphosed drastically since earlier centuries. Asian societies, too, like India’s enormous Bollywood film industry, make use of extremely diverse and talented pools of designers who dress every movie’s heroines and heroes.

How to obtain wholesale clothing

The apparel industry is an important sector of the American economy. More than 750,000 people are employed in this field according to the Bureau of Labor Statistics. One of the most vital parts of the clothing industry are clothing retailers. Clothing retailers buy and sell clothing to the public. In order to do so they must obtain clothing in great quantities. Buying wholesale clothing at cheaper prices can help the retailer earn a profit.

Instructions

  1. Determine what type of clothing you want to buy. Wholesale clothing includes many different types of items. You can choose to buy wholesale outwear such as hats and coats. You can also choose to buy dresses, shorts, shirts and skirts. Buy wholesale clothing for a specific season at least three months in advance. Orders for fall items should be placed no later than early June.
  2. Obtain an EIN. An EIN is an Employee Identification Number. The IRS assigns an EIN to people in business for tax purposes. You can get one for free from the IRS website. An EIN identifies you as a member of the apparel industry to other industry members. Some wholesalers will let you purchase from their stores without one. Many will not.
  3. Investigate wholesalers. Wholesale clothing retailers are quite varied. Some wholesalers specialize in a specific area of clothing such as sportswear or formal gowns. Others offer clothing for purchase in many different areas. If you are opening up a clothing store, you may have to work with many different wholesale clothing vendors in order to stock your store.
  4. Buy clothing. Many wholesale clothing vendors typically have both a retail store and a website. Buying from a retail store can be easier if you live near one. If you don’t have a wholesale clothing vendor in your area, you can still order items online. Look closely at the website. A site should have a picture of each item for sale. The site should also include a detailed description of the clothing offered including the type of material used, the sizes offered and the composition of details such as buttons and other fastenings.
  5. Place an order. Orders from retail stores can be delivered to your door if you don’t have a truck for larger items. Wholesale clothing orders can also be shipped to your address from a website. Allow at least a week for delivery.

Cafe Industry Statistics

Café establishments primarily sell refreshment drinks, snacks and light meals, with coffee being their flagship product. These businesses must employ innovative strategies, such as diversification of menu offerings, to increase sales and remain competitive. The industry’s growth prospects are dictated by issues such as availability of disposable income in households and changes in customers’ preferences for meals and drinks.

Market Trends

  • Cafés generate much of their revenues from coffee, a product that accounted for more than 83 percent of hot beverage sales in 2012, according to the Small Business Development Center Network. Tea and other nonalcoholic drinks are also favorites among café customers. However, snacks and light meals contribute significantly toward the overall revenues of cafes.

Industry Performance

  • The coffee and snack shops industry is a $30 billion market that grew at average annual rates of 2.7 percent between 2009 and 2013, according to a report the IBISWorld website in 2014. This shows the industry grew at steady rates through those years, despite the negative impact of the recession that rocked the economy from 2008 to 2010.

The Competitive Landscape

  • Independently owned cafes can thrive, provided the owners correctly identify their niches and avoid direct competition with the big brand name stores. According to Business Valuation Marketing, the top 50 coffee shop companies–think Starbucks–have captured around 70% of the U.S. market. Small companies can compete by offering products the larger competitors don’t provide. For example, cafes offering individually brewed coffee in exotic flavors can generate a large following among coffee enthusiasts.

China Synthetic Fiber and Its Sub-industry Statistics, 2009-2010

Synthetic fiber is a kind of linear organic macromolecular compound produced from addition polymerization or condensation polymerization with small molecular organic compounds as the raw materials. In terms of the main chain structure, synthetic fiber can generally fall into terylene, acrylic fiber, nylon, vinylon, spandex, polypropylene, etc.

With the regaining demand for textiles, the boom of China’s synthetic fiber industry is mounting up. The output of synthetic fiber in China reached 24.854 million tons in 2009, a YoY growth of 9.7%; and the output in the first half of 2010 hit 11.31 million tons, up 13.8% year-on-year. The gross margin of the industry turned out to be 6.3% in 2009, an increase of 0.6 percentage points from a year earlier; the number of loss-making enterprises registered 304, a decrease of 97 from a year earlier; and the total loss of the loss-making enterprises amounted to RMB2.52 billion, down RMB3.4 billion year-on-year. On the basis of the figure at the end of 2009, the profitability of China’s synthetic fiber industry slightly rose in the first half of 2010, of which, vinylon, spandex, and polypropylene enjoyed best profitability with the average gross margin approximating 11%; moreover, the gross margin of polyester industry that characterizes weak profitability also reached 6.1% or so.

Gross Margin of China Synthetic Fiber & Its Sub-industry, 2009Q1-2010Q2 (Unit: %)  2010080803.gifThis report presents the overall operation data of China synthetic fiber and its sub-industry like terylene , nylon, acrylic fiber, vinylon, spandex, polypropylene, etc. in 2009 and 2010, covering output, corporate quantity, total assets, industrial sales, main business revenue, cost expenses, total profit, gross margin, export delivery value, output value of new products, etc.

Terylene is the chemical fiber variety with the largest amount of processing in all textile fibers. In 2009, the output of terylene in China totaled 22.006 million tons, up 9.7% from a year earlier, and in the first half of 2010, the figure amounted to 11.50 million tons, a YoY rise of 13%.

                     Output of Terylene Products, Jan.2009-Jun.2010 (Unit: Tons in Million)  2010080804.gifThe data in this report will be updated quarterly.

China Power Transmission and Distribution and Control Equipment Industry Statistics, 2009-2010

Promoted by key projects including large-scale long-distance power transmission, ultra-high voltage grid construction, power grid construction in new rural areas and railway electrification reconstruction, the power transmission and distribution and control equipment industry of China achieved rapid development in 2009, with the annual sales revenue and total profit of RMB 656.19 billion and RMB 49.13 billion, a YoY rise of 15.7% and 19.5% respectively.

Boosted by the fast growth of power transmission & distribution and control equipment industry, five sub-sectors mounted up vigorously in 2009. In particular, capacitor and corollary equipment sub-sectors showed the most rapid growth, with the prime operating revenue and total profit increasing by 28.3% and 63.3% respectively from a year earlier. This can be ascribed to the following three factors: firstly, China has made much progress in the development of ultra-high voltage and extra-high voltage technologies; secondly, it is the period from 2009 to 2010 that the ultra-high voltage demonstration projects in China have been constructed in succession, characterizing huge investment; thirdly, China has actively promoted the concept of energy conservation and emission reduction and paid increasing attention to voltage quality, safety and electricity saving, etc.
Prime Operating Revenue and Total Profit of Power Transmission & Distribution and Control Equipment Industry and its Sub-sectors (Unit: billion)
2010080301.gif Source: National Bureau of Statistics; ResearchInChinaIn the first quarter of 2010, the boom of the power transmission and distribution and control equipment industry of China faded away as a result of the shrinkage of investments in national power grid and the falling of equipment procurement price. However, with the seasonal power consumption peak drawing near and the advancement of such power grid projects like smart grid construction, China’s power transmission & distribution and control equipment industry rebounded in the second quarter of 2010, but the sub-sectors of the industry performed variably. In specific, both the power electronic components industry and the distribution switching control equipment industry made a great leap forward; while the capacitor and corollary equipment industry dropped sharply.

With the growing demand of China for electric power and the stimulus of high-voltage power transmission and distribution projects, the power transmission & distribution and control equipment industry of China is expected to continue growth in 2010. Still, the two major sub-sectors, namely, distribution switching control equipment industry as well as transformer, rectifier and inductor industry, are likely to be the main contributor to the industrial development.

In addition, the report includes main products, outputs and data regarding import & export of the power transmission & distribution and control equipment industry.

This report has updated version by quarter.

For details of this report please visit http://www.researchinchina.com/Htmls/Report/2010/5931.html.

GCC Industry Analysis helps you make investment decisions

What is an industry analysis report?

Depending on which industry your company belongs to, before you can even decide to enter a market, you need to get an industry analysis report. The report will talk about:

  • Current market position
  • Short and long term demand and supply outlook.
  • Industry structure prevailing in the region
  • Country specific reports
  • Cost vs. Profitability
  • The regulatory environment, political situation, financial and capital markets, etc.
  • Competitor analysis

The industry analysis report would serve both a macro-level in terms of economic conditions of the countries and the region and micro-level in terms of market analysis, target audience, etc.

Overview of the GCC Region

Even with the falling prices and volatility in the capital markets, the growth rate of the region of Gulf Cooperation Council (GCC) is estimated to grow between 4.1% and 4.5% in 2015 says the International Monetary Fund (IMF).

The Middle East and North Africa (MENA) region is growing at a dismal 0.7% (based on World Bank’s data) because of its weak social and political stability, infrastructure, etc. while the GCC is growing because it has been able to move past it mainly due to their political stability, prudent policies and external financial assets.

As of now, the GCC region is showing stable economic growth, with future growth expected. A GCC Industry Analysis will tell you which country will make for a good investment destination.

Kuwait Industry Analysis Overview

According to an IMF report, Kuwait is well on its way to growth with acceleration from 2.8% in 2013 to 3.5% in 2014 and an estimated 4.5 to 5% in 2015. Due to increased oil production, the overall growth is expected to remain stable and government expenditure in infrastructure, oil and private expenditure is expected to grow.

A Kuwait industry analysis will showcase that while the country is struggling with an increase in the prices of land, electricity and transport, the government is making efforts for diversification of the economy. With a law they passed in 2013 to promote Foreign Direct Investment (FDI) in the country, Kuwait is definitely a country to consider for investment.

Overview for Saudi Arabia Industry Analysis

Saudi Arabia, as a result of government spending and increasing private sector activity, is expected to continue growing at 4% says an IMF Report. The report further says that the government is working on:

  • Strengthening the infrastructure of the country
  • Improving the business environment to attract FDI
  • Improving the education and thus the skill-set of the labour force
  • Increasing the number of jobs

The above Saudi Arabia industry analysis paints a positive picture for FDI.

 UAE Industry Analysis

Though IMF had predicted a growth rate north of 4% for UAE, the recent decline in oil prices has led to them reducing their estimates to 3.5%. Two industries which are facing a particular boom in the country are real estate and aluminium manufacturing. With their economic strategy for enhancing development and competition, UAE is soon becoming a power to be reckoned with.

How can a GCC Industry Analysis help?

While choosing a country for market-entry, it is extremely important to understand what you are getting into. It is no longer the economics which make or break the decision to expand to a country. It goes beyond money.

A well researched industry analysis report will:

  • Give you a competitive edge
  • Give you relevant information with which you can put the right benchmarks
  • Help you to make astute decisions

As a company, you need to understand consumer behaviour, market players, logistics, etc. so as to make an informed decision. Hire an industry analyst with experience in GCC industry analysis to gain powerful insights.

INDUSTRY ANALYSIS

INDUSTRY ANALYSIS

*Shanmukha Rao. Padala  **Dr. N. V.S. Suryanarayana

INTRODUCTION:

Industry and competition are the main constituents of the task environment of a business firm. The environmental survey will not be complete without industry analysis and competitor analysis. Analysis of macro environment gives rise to common information whereas Industry Aanalysis provides structural realities, specific and unique information, which are required for strategy formulation. Industry analysis brings to light the industry attractiveness and the firm’s competitive position within the industry. The indusrty’s attractiveness is mainly determined by its growth potential and inherent profitability of of the industry. Analysis of industry and competition helps not only strategy formulation but also helps in building competitive advantage.

Michael E. Porter’s book ” Competitive Strategy” propelled the concept of industry analysis into the foreground of strategic thought and business planning. His well defined analytical framework helps strategic managers to understand industry dynamics and to correctly anticipate the impact of remote factors on a firm’s operating environment.

The nature and degree of competition in an industry hinge on five forces: the threat of new entrants, the bargaining power of customers, the bargaining power of suppliers, the threat of substitute products or services, and the jockeying among current contestants.

FRAME WORK FOR INDUSRTY ANALYSIS:

The following framework, which consists of seven aspects, is helpful to do industry analysis.

  1. Basic Conditions: Under general/basic conditions, product categories, performance of the industry in recent years and size of the industry are considered. Before 1980 the Indian passenger car industry was oligopolistic, industry size was small and licensing system was used as an entry barrier. Customer service and quality of vehicles were lesser-known aspects. The industry operated with limited players in a regulated protected  environment. In 1980 Maruti entered the Indian passenger car industry. The post liberalization period witnessed the entry of several new players including MNCs. The industry went through growth phase and other players adopted new strategies. The demand for passenger cart was 15,714 in 1960. Within  next two decades it increased to 30,989. The Compound Annual Growth Rate rose from 3.50% to 18.60% in 1983.
  2. Industry Setting/ Environment: Michael Porter classified industries on the environment.
  • Fragmented industry
  • Emerging industry
  • Transition to maruti
  • Declining industry
  • Global industry

Industry settings must project the industry type to which the firm belongs. With regard to Indian passenger car industry, it is a growing industry and it is likely to have prolonged phase of growth. It employs 4,50,000 people directly and 10 million indirectly and it contributes 4% of GDP currently.

  1. Industry Structure: Till 1980, there were only two players in the passenger car industry namely Hindustan Motors and Premier Auto Ltd. In 1980, Maruti entered the scene. With liberalization global car giants such as Suzuki, General Motors, Ford, Daewoo, Hyundai, Honda, Peugeot, Fiat, Mitsubishi, Daimler Benz and BMW entered the Indian market through joint venture route. Before 1980, licensing policy served as an entry barrier. After 1980, huge capital requirement, cost advantages and experience curve effect of early players like Maruti proved to be an entry barrier for new players.

Industry structure is concerned with number of players, total market size, market share of players, nature of competition, barriers, differentiation, and cost structure of players.

  1. Industry Attraction: Industry attractiveness is mainly determined by: industry potential, industry growth, industry profitability and forces shaping competition. The demand for small car is increasing in India. The l;uxury car is the segment where the demand is slowly on the rise in recent times. The factors that determine profitability in passenger car industry are technology and volume. All players have different models in all market segments. The existing players Premier Auto Ltd., and Maruti put up defensive strategies. Cost reduction, reduction of delivery time, marketing network, auto financing by Citicorp, export orientation, price cutting, aggressive pricing policy, modernization, expansion and after sales service are notified in Indian passenger car industry.
  2. Industry Performance: Performance of the industry is studied in terms of sales, profitability, production and technological advancement. The compact car segment has witnessed several challenges Daewoo launched Matiz, and Hyundai launched Santro. Indica launched by Tata Motors proved to be a world class low priced diesel car. Maruti experienced tough competition from Indica and Indica reshaped Indian car market. A price war was unleashed by leading players. Modernization of plants, export thrust, superior after sales service have been observed among all leading players. Now Tata Motors introduced ‘Nano’ car at world least cost.
  3. Industry Practice: Industry practice refers to what majority of players in the industry does with distribution, pricing and R&D. joint venture with MNC is an accepted industry practice to ensure quality in passenger car industry. After sales service centers are established by all leading manufacturers. In recent times, Maruti has lost its dominant position mainly because of the aggressive attitude of new players. However it enjoys the cost advantage as it was established in a regular environment.
  4. Emerging Trends: The emerging trends are examined by studying product life cycle, stage of the industry, changes in buyer needs, and innovation in products, process, and growth rate and government policies. McKinsey consultants have predicted 256 per cent growth in industry production. The Ministry of Heavy Industries and Public Enterprises plans to double the contribution of auto industry by promoting exports.

How Competitive Forces Shape Strategy:

The essence of strategy formulation is coping with competition. It is easy to view competition too narrowly and too pessimistically. Intense competition in an industry is neither coincidence nor bad luck.

In the fight for market share, competition is not manifested only in the other players. Rather, competition in an industry is rooted in its underlying economics, and competitive forces exist that go well beyond the established combatants in a particular industry. Customers, suppliers, potential entrants and substitute products are all competitors that may be more or less prominent or active depending on the industry.

The collective strength of these forces determines the ultimate profit potential of an industry. It ranges from intense in industries where no company earns spectacular returns on investment, to mild in industries, where there is room for quick high returns.

In the economist’s perfectly competitive industry, jockeying for position in unbridled and entry to the industry very easy. This kind of industry structure, of course, offers the worst prospect for long run profitability. The weaker the forces, the greater the opportunity for superior performance.

Whatever their collective strength, the corporate strategist’s goal is to find a position in the industry where his or her company can best defend itself against these forces or can influence them in its favour.

Knowledge of these underlying sources of competitive pressure provides the groundwork for a strategic agenda of action. They highlight the critical strengths and weaknesses of the company, animate the positioning of the company in its industry,.

MICHAEL PORTER’S ANALYSIS:

According to Michael Porter, the nature and degree of competition in an industry depends on four forces. The threat of new entrants, the bargaining power of suppliers, the threat of substitute products or services, and the jockeying among current contestants. To establish a strategic agenda for dealing with these competing currents and to grow despite them, a company must understand how they operate in an industry and how they affect the company in its particular situation.

The strongest competitive force or forces determine the profitability of an industry and so are of greatest importance in strategy formulation. Even a company with a strong position in an industry unthreatened by potential entrants will earn low returns if it faces a superior or a lower cost substitute product. In such a situation, coping with the substitute product becomes the number one strategic priority. A few characteristics are critical to the strength of each competitive force.

1. Threat of Entry:

New entrants to an industry bring new capacity, the desire to gain market share, and often substantial resources. The seriousness of the threat of entry depends on the barriers present and on the reaction from existing competitors that the entrant can expect. If barriers to entry are high and a new comer can expect sharp retaliation from the entrenched competitors, obviously he will not pose a serious threat of entry. There are six major sources of barriers to entry.

  1. Economies of scale – These economies deter entry by forcing the aspirant either to come in on a large scale or to accept a cost disadvantage.  Scale economies in production, research, marketing and service are probably the key barriers to entry. Economies of scale can also act as hurdles in distribution, utilisation of the sales force, financing and nearly any other part of a business.
  2. Product Differentiation – Brand identification creates a barrier by forcing entrants to spend heavily to overcome customer loyalty. Advertising, customer service, being first in the industry, and product differences are among the factors fostering brand identification.
  3. Capital Requirements – The need to invest large financial resources in order to compete creates a barrier to entry, particularly if the capital is required for unrecoverable expenditure.
  4. Cost Disadvantages Independent of Size – Entrenched companies may have cost advantages not available to potential rivals, no matter what their size and attainable economies of scale. These advantages can stem from the effects of the learning, proprietary technology, access to the best raw materials, sources, assets purchased at pre-inflation prices or favourable locations.
  5. Access to Distribution Channels – The new entrants must of course secure distribution of his product or service. The more limited the wholesale or retail cannels are and the more that existing competitors have these tied up, obviously the tougher that entry into the industry will be. Sometimes this barrier is so high that, to surmount it, a new contestant must create its own distribution channels.
  6. Government Policy – The government can limit or even foreclose entry to industries with such controls as license requirements and limits on access to raw materials. The government also can play a major indirect role by affecting entry barriers through controls such as air and water pollution standards and safety regulations.

2. Powerful suppliers and buyers:

Suppliers can exert bargaining power on participants in an industry by raising prices or reducing the quality of purchased goods and services. Powerful suppliers can thereby squeeze profitability out of an industry unable to recover cost increases in its own prices.

Customers likewise can force down prices, demand higher quality or more service, and play competitors off against each other – all at the expense of industry profits.

The power of each important supplier or buyer group depends on a number of characteristics of its market situation and on the relative importance of its sales or purchases to the industry compared with its overall business.

A company’s choice of suppliers to buy from or buyer groups to sell  should be viewed as a crucial strategic decision. A company can improve its strategic posture by finding suppliers or buyers who possess the least power to influence it adversely.

Most common is the situation of a company being able to choose whom it will sell to in other words, buyer selection, Rarely do all the buyer groups a company sells to enjoy equal power.

3. Substitute Products

By placing a ceiling on prices it can charge, substitute products or services limit the potential of an industry. Unless it can upgrade the quality of the product or differentiate it somehow, the industry will suffer in earnings and possibly in growth.

Substitutes not only limit profits in normal times, they also reduce bonanza an industry can reap in boom times.

4. Jockeying for Position

Rivalry among existing competitors takes the familiar form of jockeying for position – using tactics like price competition, product introduction, and advertising. Intense rivalry is related to the presence of a number of factors:

  • Competitors are numerous or roughly equal in size and power;
  • Industry growth is slow, precipitating fights for market share that involve expansion minded members;
  • Fixed costs are high or the product is perishable, creating strong temptation to cut prices;
  • Exit barriers are high. Exit barriers keep companies competing even though they may be earning low or even negative returns on investment.
  • The rivals are diverse in strategies, origins and personalities. They have different ideas about how to compete and continually run head – on into each other in the process.

EXPERIENCE CURVE AS AN ENTRY BARRIER:

In recent years, the experience curve has become widely discussed as a key element of industry structure. According to this concept, unit costs in many manufacturing industries, as well as in some service industries decline with experience of a particular company’s cumulative volume of production.

The cost decline creates barrier to entry because new competitors with no experience face higher costs than established ones, particularly the producer with the largest market share, and have difficulty catching up with the largest market share, and have difficulty catching up with the entrenched competitors.

Adherents of the experience curve concept stress the importance of achieving market leadership to maximise this barrier to entry, and they recommend aggressive action to achieve it, such as price cutting in anticipation of fallings costs in order to build volume.

The height of the barrier depends on how important costs are to competition compared with other areas like marketing selling, and innovation. The barrier can be nullified by product of process innovations leading to a substantially new technology and thereby creating an entirely new experience curve. New entrants can leapfrog the industry leaders and alight on the new experience curve, to which those leaders may be poorly positioned to jump.

SWOT ANALYSIS:

SWOT or WOTS is an acronym for strengths, weakness, opportunities and threats underlying strategic planning process. The purpose of strategic planning is to discover future opportunities and threats so as to make plans to exploit or avoid them, as the case may be, in the crucial step of strategy formulation. Though SWOT analysis should be undertaken as an integrated process in strategic management, it has been broken into two parts because of the different nature of information requirement for each. The first part is the environmental analysis for identifying opportunities and threats, and the second part is corporate appraisal for identifying strengths and weaknesses.

SWOT analysis begins with the appraisal of external environment so that the organisation can analyse the various opportunities and threats offered by it and the organisation can relate itself in the light of its strengths and weaknesses. From this point of view, managers should appraise the various organisational factors through which it can cope up with its environment. Such a process is known as corporate appraisal. Corporate appraisal is the process through which managers analyse the various factors of their organisation to evaluate their strengths and weaknesses so as to meet the opportunities and threats of environment.

USEFULNESS OF INDUSTRY ANALYSIS:

The basic purpose of industry analysis is to assess the relative strengths and weakness of an organization relative to other players in the industry. It tries to highlight the structural realities of a particular industry and the extent of competition within that industry. Through industry analysis, an organization can find whether the chosen field is attractive or not and assess its own position within the industry. Industry analysis helps firms in the following ways.

  • Industy Attractiveness:

Industry analysis helps to find out:

  1. the growth potential of the industry,
  2. the profitability of the industry and
  3. the relative ability of player in that industry.

Where the growth prospects are good and profit potential is great, the firm can safely conclude that the field is attractive and offers enough room for others to enter and explocit the field. At this stage firm needs to answer certain questions like:

  1. is it a growing industry?
  2. if yes, at what pace the industry is growing?
  3. are there any limits to growth in the industry?
  4. does it offer good returns consistently etc.
  • Competitive Position:

Where does the firm stand in comparison to other in a particular industry. Finding answers to such a question is important for various reasons. First, it helps the firm to find its own advantageous/disadvantageous place. Second, it enable the firm to know whether it is able to deliver value for money when compared to others in the industry. Third, it can think of effecting improvements in its product and service offerings in an attempt to defend and improve its standing in the market place.

SUMMARY:

Industry analysis brings to light the industry attractiveness and the firm’s competitive position within the industry. The nature and degree of competition in an industry hinge on five forces: the threat of new entrants, the bargaining power of customers, the bargaining power of suppliers, the threat of substitute products or services, and the jockeying among current contestants. The framework, which consist of seven aspects viz., basic conditions, industry setting/environment, industry structure, industry attraction, industry performance, industry practice and emerging trends are helpful to do industry analysis. The basic purpose of industry analysis is to assess the relative strengths and weakness of an organization relative to other players in the industry. It tries to highlight the structural realities of a particular industry and the extent of competition within that industry.

According to Michael Porter, the nature and degree of competition in an industry depends on four forces: the threat of new entrants, the bargaining power of suppliers, the threat of substitute products or services, and the jockeying among current contestants.

The experience curve has become widely discussed as a key element of industry structure in recent years. According to this curve, unit costs in many manufacturing industries, as well as in some service industries decline with experience of a particular company’s cumulative volume of production.

10 Common Things to Know about Laptop Repairing Course & Laptop Industry

The education industry is big and has a number of opportunities for all those looking for a secure career! It has a numerous options for students out of which laptop repairing course is the one. This course and industry is different. This is because the industry follows the concept of being technically innovative. So, what else a student would love to know about this course and industry. Here, we put up 15 common things to know about laptop repairing course and laptop industry.

  1. 1.      New Laptops Launch:

With brands like Apple, HP, Asus, Samsung, Toshiba, Acer, and many more 5 to 10 laptop launch per month is estimated. This means that the industry has new and better device every month for the consumers and engineers. Laptop repairing course is the course that helps individuals to know about the latest industry trends adapting the innovative repairing techniques.

  1. 2.     Industry with Growth & Growth:

You can imagine that with advance laptop entering the industry, professionals have more work to do in manufacturing, designing, testing, and servicing department. This means that the industry defines and promises growth for the professionals who want to join laptop technology course.

  1. 3.     Laptop Course is for everyone!

The next common fact that is must to know is that the laptop repairing course is for everyone. No matters, whether a student is from arts, science or computer stream, he can do the course and earn a good income. Unlike other technical courses, students just have to develop their skills to repair a laptop and get a diploma certificate.

  1. 4.     India – Hub of Laptop Users:

According to a research, 70 % of the youth workforce in India use laptop or personal computers daily. This clearly signify that India is a hub of laptop users and laptop engineering field will become one of the top 10 diploma courses in the country. Laptop repairing course at card or chip level is offered by a number of certified technical institutes such as hi-tech laptop training center.

  1. 5.     Need of Professional Laptop Service:

Now, with large numbers of users in the country, the need of professional laptop service is also continuously increasing. Customers will be more conscious about who is offering the after-sales laptop services. Laptop repairing course certificate will help engineers to prove their ability and expertise in this particular field.

  1. 6.     Lifelong Learning  with Hiked Earning:

The field of laptop engineering is the career of life-long learning with hiked earning in hand. Students or professionals can gain extra technical skills to provide better services than the competitors in the industry can. So, in the short the laptop training institutes in Delhi can make you learn the tricks for good returns.

  1. 7.     Self-Dependence in Industry:

For students who love to be boss, the laptop repairing course is the best training. It enhances the self-dependency of the person by providing the option of doing independent business. A student after the course can hire a shop, take a franchise, or can offer door-to-door laptop services.

  1. 8.    No Bar for Earning:

These type of technical training calls for no bar for earning since the maximum earning limit has no stoppage line. A laptop engineer can earn based on number of laptops he repair in a day. He can repair hardware or software issues according to his expertise in laptop repairing course.

  1. 9.     Skill-Development:

The next fact covers the best point of the industry that it welcomes technical skill development lifetime. Repairing a laptop issue is a skill and to master in the same is an art. The courses on laptop technology help in mastering the innovative techniques and therefore students join such course.

  1. 10.            Bright Future Perspective:

The industry has bright future perspective in present and future. With growing laptop device users and option of doing laptop repairing course, students are surely going to make their life comfortable and stable. Hence, join laptop industry and give a great start to your career.

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Things you should keep in mind while looking for finance jobs!

Jobs in finance industry are highly lucrative. In earlier times, financial planners had two limited career options-they could either become stock broker or insurance agents. Their career paths were decided and expectations were conveyed. There has been a drastic change since then; there are more career options available in the present scenario. With this, the race to grab the best finance jobs among the aspirants has become even more fierce and competitive.

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source:cimreport.com

Preparing for a career in finance requires an individual to be more attentive towards the latest developments and keeping the tab on the current hiring trends (such as skills in demand). A career in finance can be quite tough, but for people who are enriched with great analytical and numerical skills, the journey to a successful finance professional can be quite easy.  If you are planning a career in this, here are few things which you might want to know.

Initial requirements

The finance sector bestows its professionals with high pay packages and excellent career advancement opportunities. Jobs in finance sector can be a hard nut to crack or it can be a cakewalk, a lot depends upon the skills and aptitude of an individual.  There is a great deal of skills, education and efforts involved in getting a job of your choice.

The most basic education requirement to qualify for the finance jobs is undergraduate college degree.MBA finance is one of the most common finance courses to get an entry in such jobs.

Where to look for opportunities in finance?

Finance institutions are present in almost any part of the country. People mostly prefer the metro cities when it comes to finding a job. Below is the list of the sectors where finance jobs can be readily found-

  • Private Equity
  • Investment Banking
  • Hedge Funds
  • Venture Capital
  • Retail Banking
  • Corporate Finance
  • Fund Management

Further, if you are willing to work in a finance job abroad, you should aptly comprehend that most of the companies prefer employees who can speak in the native language. Besides English you must learn a second language to strengthen your candidature.

Expand your job finding resources

Due to the cut throat competition, finding a finance job can be at times an arduous task, but there are a wide array of resources to help you find a job. This is internet driven world and so maximum number of opportunities you can find through internet itself. There are employment sites, online job portals, consultancies and recruitment firms where one can get the list of job openings in a variety of companies.

What are the different entry level positions in finance?

Finance is a diversified sector which offers a plenty of job roles and positions. Finance graduates have a certain level of edge over other career domains as they can strive for a wide variety of entry level positions. Some of the prominent entry level positions in the finance sector are listed below,take a look-

  • Finance Analyst
  • Commercial Lender
  • Financial manager
  • Financial planner
  • Portfolio Manager
  • Security Analyst
  • Trust Manager and so on.

In an entry level job, candidates must not worry about their salary package. In their first job, they should focus more on learning the traits of the trade. Finance industry is tough and so those who have acquired the skills as per the industry demands shall be the one to make their way ahead of others!

Know About Trade Finance and Corporate Finance Services

Are you aware of trade finance services and what is the prime thing that includes in corporate finance services? If no, then this article will offer enough idea about trade finance and corporate finance services. Trade finance services incorporate exercises such as loaning, issuing letters of credit, calculating, fare credit and protection. Organizations included with exchange fund incorporate shippers and exporters, banks and agents, back up plans and fare acknowledge offices, and additionally other administration suppliers. It is true that the trade finance is of key significance to the global economy with the World Trade Organization that accesses around ninety percent of worldwide exchange on the stratagem for financing. Trade exchange has been in presence for a considerable length of time, exchange account created as a method for encouraging it further.

The broad utilization of exchange account is one of the components that have added to the huge development of global exchange late decades. In its most straightforward method, trade structure works by accommodating the different needs of an exporter and merchant. While an exporter would want to be paid forthright by the shipper for a fare shipment, the danger to the merchant is that the exporter may essentially stash the installment and deny shipment. On the other hand, if the exporter stretches out credit to the merchant, the recent may decline to make installment or deferral it excessively. The most well-known answer for this issue is through a letter of credit, which is opened in the exporter’s name by the shipper through a bank in his or her nation of origin.

The letter of credit basically ensures installment to the exporter by the bank issuing the letter of endless supply of narrative verification that the merchandise has been sent. In spite of the fact that this is a to some degree bulky procedure, the letter of credit framework is a standout amongst the most famous exchange money components. Now, let’s understand about corporate finance services. trade Finance services practice influences on our comprehension of corporate procedure, capital markets, and global wards and administrative necessities, to open the potential for development in organizations. Well, corporate finance services include:

•    Transacting Advisory: Most developing organizations need to definitely consider a residential or cross-fringe exchange, for example, setting up a branch outside local market or securing an abroad organization. These exchanges are regularly mind boggling and require cautious thought. With multidisciplinary mastery crosswise over divisions and industry verticals, we help our customers in proactively underscoring so as to execute key business exchanges – the significant worth drivers, and discovering the real dangers and opportunities in the exchange.

•    Valuations: Putting a cost on something or assessing its value is never clear. Today, performing valuations are getting more mind boggling with persistent changes in the administrative and business environment. Valuation administrations are required for different reasons, for example, obtaining, speculation, transfer, and buyout, merger, rebuilding, bookkeeping, statutory/lawful and so forth.

•    Mergers and Acquisitions: This offers neighborhood and global organizations a far reaching scope of M&A administrations. With the developing economy and also expanded cross outskirt vicinity.

Strong Business Development for Industry-Strong India

India, being a developing nation while competing with other developing and developed nations, is looking forward to build its industries stronger than ever be it private or public. Especially Indian private sector industries comprising of both products and services require strategic approach to stand confidently in front of the global leaders. To strengthen and make businesses reach the desired goals, business development managers play a great role. Their role is immensely significant to businesses they are associated with.

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Image Source: phcgconsulting

To spread the approach of businesses at a global scale, it is important to develop business through the means of  practicing positive business development. The possibility lies around professional business development manager. Companies working at a large scale never take the hiring of a business development team any lightly. The team comprises of both experts and freshers. In fact, it depends company to company. Sometimes, companies prefer experts only. On the other hand, startups give opportunities to freshers as well as experience holders.

Opportunities Lie EverywhereThe Leading Cities

Various lucrative opportunities await everywhere, but the current scenario advocating Gurgaon as one of the best destinations if you are looking for a position as a business development manager. The salary trend in Gurgaon for the similar job profile has gone up by 61%. It means the city is offering lucrative salary packages if compared with other cities. Mumbai is at second place with 26% followed by New Delhi with 20%, Bangalore with 19%, Mumbai (Bombay) with 12%, Delhi with 4%, and Noida with 1%. Gurgaon, with its growing infrastructure and freshly-positively moulded FDI policies, surpasses major cities.

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Image Source: oneindia

Remuneration

At nationwide scale, a business development manager earns an average salary of Rs 582,211 per annum. This data is a fact obtained from payscale that fetched the data from 3,614 reported individuals. Later, with experience, one can gain better salary packages and positions.

Future Opportunities

If you have account management, business strategy and technical skills, you have better and lucrative opportunities. With experience and skill gaining during the course of your job, you can choose the best career from the following common career paths:

  • General Operations Manager
  • Operations Manager
  • Senior Marketing Manager
  • National Sales Manager
  • Deputy General Manager
  • Business Manager
  • Business Development Manager
  • Regional Sales Manager
  • Senior Marketing Manager
  • National Sales Manager
  • General Sales Manager
  • Assistant General Manager (AGM)
  • General / Operations Manager
  • Chief Executive Officer (CEO)
  • Sr. Operations Manager
  • Vice President (VP), General Manager
  • Vice President (VP), Operations

Specific Experience Groups

If you have queries building in your mind about the experience of reported individuals, the following list would give you an idea about the percentage of people and the specific experience group they belong to:

experience.jpg

Image Source: ventiq

1. Less than 1 year – 4%
2. 1-4 years – 33%
3. 5-9 years – 41%
4. 10-19 years 20%
5. 20 years or more – 2%

Conclusion

Whether it is public sector or private sector, to make each and every industry a helping hand to transform developing India into a developed country, it is important to broaden the reach of services and products. Individuals associated with the similar profile can assist India and bring more business opportunities from the corners of the world.

The Value of Offshore Investing

Offshore investment alludes to a wide assortment of investment techniques that exploit tax reductions offered outside of a financial specialist’s nation of origin. There is no lack of money-marketplace, security and value resources offered by dependable offshore investment organizations that are monetarily stable, time-tried and, above all, legitimate. Deals weight and deceptive nature can be pretty much as awful outside the U.A.E- – particularly in a portion of the less controlled previous expense asylums and locales. In a portion of the island shelters there are more high-weight cheats than sand on the shoreline.

Why is it Necessary?

Offshore investing includes storing your money in a remote locale. Numerous individuals want to contribute their money offshore in light of the fact that they need to decrease their taxation rates. More often than not, nations with poor assessment regulation are duty sanctuaries for outside speculators.

The free duty regulation plans to draw in rich outside speculators. The positive expense rates in an offshore investment conceivable nation are expected to empower a lively offshore investment air that polarizes outside riches. For little nations such as Mauritius and Seychelles, with just a couple saves and a little populace, offshore contributors significantly expanded their financial action.

How to proceed with it?

Ensure you are managing in a progressed, intensely directed top-level ward with a long history of financial administration, aptitude, and base. Make sure to affirm that the items or investment director are all part of a long-standing organization that won’t go under tomorrow. Likewise ensure that the offshore item is lawful and intended for American speculators.

In particular, ensure you comprehend your administrative and reporting necessities to the powers. Keep in mind, lack of awareness is no guard in these matters.

The Availability:

Offshore investment permits you to rebuild the benefit possession. The responsibility for riches can be exchanged effectively to another outside lawful element through trusts and establishments.

Individuals who are agonized over the appropriation of their advantages can exchange it to an element arranged in a remote nation. Through the on paper possession exchange, you won’t be subjected to appropriation of the individual resource in your neighborhood nation.

The benefit of it:

People use offshore investment organizations to procure common assets, offers, property, bonds, adornments and valuable metals. Once in a while they will likewise apply these organizations to exchange coin, values as well as bonds.

The well off will likewise have expanded offshore investment organizations for various division of belonging; for various nations or by various classes of investments. This implies your financial data will never be uncovered by authorities in the offshore nation. In the event that the authority breaks the classification, that can be sued by the customer. For instance, the offshore bank authority shouldn’t unveil the character of the customer. Some offshore locales deny the divulgence of the personalities of the shareholders. It is essential for the remote financial specialist to keep his way of life as mystery.

Numerous rich financial specialists don’t need the general population to know the stocks they are purchasing. Thus the help of financial advice in the UAE is a necessary thing to consider.

PCD Pharma Company – The best way to do business in pharmaceutical industry

PCD stands for Propaganda-Cum-Distribution. It is a distinctly functioning business body that endues the entrepreneur with opportunity with exclusive rights in their province. PCD as a whole has shown marvelous growth since past few years and seems stringently promising for the near future. Surveys say that the market is booming for this niche and will remain for coming many years. Said that, there are a number of opportunities to do business with PCD Pharma Company and set it as the best source of income. Getting our PCD Franchise is very easy. Associating with a PCD pharmaceutical company helps in making contacts with various companies and adding new distributors and agents as a franchise pharma company, and thus, a better chance to grow business circle. Choose a company that is into making genuine medicines. Pharma exhibitions are the platform that brings together eminent personalities from various sectors of pharma, non-pharma and healthcare industries. It is one stop juncture to all those who are planning to expand their business through various channels of franchise and distribution; as well as wholesalers and hospital purchase personnel who seek to buy bulk products on concessional rates. Opt for the company that is into manufacturing great range of medicines such as antibiotics, analgesics, anti-amoebic, antacids, anti-allergic, anti-cold, anti-inflammatory, muscle relaxants and anti-spasmodic. Another important thing that should be kept in mind is the network of the PCD pharma company. There are certain companies having its network across the nation or country. Partnering with such companies always get you great benefits as you get their mileage of their established firm and their names in the market.

PCD Pharmaceutical Companies

Lots of companies are rising in global market in different sectors and most of them fail to sustain in the market because of the low product value and lack of marketing processing strategic and operational process. To sustain, a company must have a good product value and marketing processing strategy. If you are willing to own a franchise, then Pharma PCD firms will be the best choice for you as this sector has rapid growth in the resent years. The need of health-related product is increasing day by day among the people because of the increase of health related diseases and this is the reason why this sector is the third largest sector in the world. It also sustains in the market during the recession time. Many PCD Pharma companies are willing to start their business in India. Some of the PCD pharma companies are listed below:

  •     Segos Biocare
  •     Onesta Lifecare
  •     Mandevis Pharma
  •     Biomedica Remedies
  •     Cubit Health Care
  •     Cubic Lifesciences Private Limited
  •     G.M.H. Pharmaceutical Pvt. Ltd
  •     Rapid Life Drugs and Healthcare
  •     H. L. Healthcare Pvt Ltd

Pharma Expo is the best platform for the PCD pharma companies to exhibit about franchise and business association.

Picking the Right Stocks for you

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To comprehend stock market spreads, a broker should first adjust himself with three prevalently and broadly utilized terms. These three terms are a key in mastering the phrasing that an effective broker will both utilize and understand. This system is fabricated by obtaining one put alternative while at the same time offering another put choice with a higher strike cost. The objective of this methodology is accomplished when the cost of the fundamental keeps afloat higher strike value, bringing on the short alternative to terminate useless. To accomplish the greatest conceivable benefit, the technique must equivalent the difference between the strike costs and the net credit got. On the other hand, a charge spread happens when the purchase put position costs more to purchase than the offer put alternative.

Maintenance of Stocks:

The most critical stock market tips that starting speculators ought to take to heart aren’t safeguard traps for picking the following hot stock, or figuring out how to adjust on the air pocket’s surface until the minute just before it blasts. Rather, the most critical thing that another financial specialist can prepare themselves to do is altogether research the organizations in which they’re keen on contributing, and invest energy watching a stock’s execution on the outlines before thudding their cash on the table. An excess of right on time financial specialists become involved with a poisonous blend of presumption and fervor, which drives them to going for broke.

Arrangement of Stocks:

Another essential arrangement of stock market tips for amateurs needs to do with acclimating yourself with the workings of specialized examination. Utilized as a methods for assessing the market and foreseeing future value developments before they happen, specialized investigation is the act of outlining, following and translating the changes of the stock market after some time. As you turn out to be more acquainted with the procedure of graphing stocks, you’ll start to have the capacity to choose imperative examples and patterns as they shape, and soon, you’ll have the capacity to utilize this learning to make expectations about whether a specific stock is prone to drift up or down sooner rather than later.

Picking the Right Stock:

No discourse of novice stock tips would be finished without likewise focusing on the significance of being careful about high hazard speculations. There is a great deal of buildup circling around the stock market and online groups about the “following hot stock” and the chance that you have for making a huge number of dollars the length of you are in the correct spot at the perfect time. While supernatural occurrences do happen, they never push another financial specialist to mogul status over night. Begin with stocks that you know are steady and will give you great involvement with investigation.

Well, if you believe to be still confused with the versatility of the stocks, here is a great tip for you to go. You can simply opt for Yelp Stocks to make a good income. So why to wait for? Hurry up and grab it as much as you can.

Steel Erector Job Description

Steel erectors, also known as iron workers, construct the frames of tall structures, including skyscrapers, hospitals, parking garages, air traffic control towers, manufacturing plants and universities. They perform a range of services from shear stud or joint installation to building renovation to metal decking. Steel erectors either control derricks and cranes, or direct crane operators, in transporting buckets of concrete, reinforcement bars, structural steel components and other necessary materials to their position on the building.

Learning the Job

  • Steel erectors usually need a minimum of a high school diploma and a broad understanding of mechanics, design and engineering. Most complete three or four years of an apprenticeship to learn the tricks of the trade. Eligibility differs by the organization, but apprenticeships generally require candidates to be physically able to handle the work, to be a minimum of 18 years old and to pass a substance abuse screening. Steel erectors can’t be afraid of heights, and they must have excellent depth perception, balance and physical strength.

Covering the Details

  • For each new project, steel erectors collaborate with their team to create construction and safety plans, evaluate location-specific hazards, review drawings in detail and determine procedures for welding and crane logistics. Steel erectors cut various materials for installation and weld or use bolts to connect beams, girders and columns to other structural pieces. Depending on the specifications of the project, they may install wires, ladders, gauges, flanges, valves, sealing strips or insulated materials.

Safety and Stability

  • Steel erectors are often responsible for putting together and breaking down temporary shelters and similar equipment that’s used during the construction process. They also prepare support and safety equipment around work sites. According to the Occupational Safety & Health Administration, steel erectors are constantly on narrow working surfaces that are several levels above the ground. OSHA notes that many erectors start working at the top of the structure, where anchor points higher than foot level tend to be unavailable or limited.

Advancement and Employment

  • According to the U.S. Bureau of Labor Statistics, most steel erectors get certified by the American Welding Society. (See Reference 1: How to Become One tab; Licenses, Certifications and Registrations) It reports that those with certification in crane signaling, rigging and welding may receive higher pay than workers without credentials. (See Reference 1: How to Become One tab; Licenses, Certifications and Registrations) The BLS classifies steel erectors under the broader category of structural iron and steel workers, who earned an average annual income of $51,590, as of May 2013. (see Reference 6) It reports that employment opportunities are expected to increase 22 percent between 2012 and 2022, which is must faster than the average of all occupations at 11 percent. (See Reference 1: Job Outlook tab; paragraph 1)

Financial Planning & Analysis Job Description

The financial planning and analysis department within a corporation is responsible for preparing the annual plan and long-range or five-year plan. Financial planning and analysis professionals also prepare monthly, quarterly and annual management reports that compare actual results to forecasts. This department is a segment of the finance division of a company, and usually reports to the chief financial officer. The financial planning and analysis team also assists with the monthly accounting close, making certain journal entries are prepared correctly and on time.

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Education and Training

  • Financial analysts are expected to have, at minimum, a Bachelor of Science degree in finance or accounting. Having a Master of Business Administration degree is highly desirable, particularly for career advancement. Some companies require that analysts have a Certified Public Aaccountant designation to ensure they understand “Generally Accepted Accounting Principles” and apply these principles to the reports they prepare.

Skills

  • Financial planning and analysis professionals must have a thorough understanding of advanced financial analysis techniques using spreadsheet software, as well as any specialized financial forecasting software their company may have. They must be able to design reports that present both actual and budget data in a concise manner for use by top management in decision making. They are required to communicate well, both orally and in writing, as they are asked to make presentations to upper management.

Responsibilities

  • Senior management depends on information and recommendations provided by the financial planning and analysis department to make critical decisions such as those regarding multimillion dollar capital expenditures and mergers and acquisitions. If the information the analysts supply is flawed, there can be significant negative financial consequences for the company as a whole. Success in this career depends on being able to interpret data and draw conclusions, not just to compile numbers.

Challenges

  • Finance planning and analysis can be a high-pressure career because, during the planning cycle, there are tight deadlines that must be met. The financial reports that analysts prepare can involve presenting negative news to senior executives, who may challenge the accuracy of their reports. They are often given special analysis projects, such as mergers and acquisitions, that must be completed under extremely tight time frames and often with insufficient or limited data.

Rewards

  • Because the financial planning and analysis expert interfaces with all departments of the company during the planning process, this career can be a learning experience to gain an understanding of how other departments, such as marketing or purchasing, are managed. This knowledge can help financial analysts advance into a senior management role later in their careers. It can also be a stepping stone to becoming chief financial officer of the company, because the financial planning and analysis department is heavily involved with the day-to-day operations of the accounting department. Financial planning and analysis professionals, even junior analysts, are asked to prepare reports or make presentation to top executives, so this career can help young professionals develop poise and self-confidence.

 

Properties of Hardened Steel

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Hardened steel is a type of medium to hard plain carbon steel that has undergone heat treatment, quenching and further reheating. Components made of hardened steel have a hard exterior casing and a robust core, and include arbors, axles, link components, driving pinions, camshafts and cardan joints. Application areas of components made from hardened steel include transportation, energy generation and general mechanical engineering. Types of hardened steel include Z60CDV14, Sandvic 12C27, CPM440V and ATS34.

Wear Resistance

  • Hardened steel is resistant to wear, rough usage, high-impact pressure and shock. It is used to make power shovels, steel balls, nozzles, surgical instruments, crushers and plates for rock-processing. Steel with a sufficient amount of chromium that undergoes heat treatment hardens to form chromium carbide particles, which increase the wear resistance of the steel alloy. Hardened steels with a greater concentration of carbon contain a higher amount of chromium carbide and exhibit enhanced wear-resistance properties.

Corrosion Resistance

  • According to “Surface Engineering for Corrosion and Wear Resistance,” corrosion costs the U.S. billions of dollars annually by affecting materials and metallic surfaces used in industries. Hardened steel is resistant to corrosive chemical environments, potable water and atmospheric corrosion. Hardened steel is applied with corrosion-resistant coating to further enhance its resistive properties.

Abrasion Resistance

  • Hardened steel offers exceptional resistance to severe sliding abrasion and is able to withstand drilling and punching. Its abrasion-resistant properties enable hardened steel to be used in aggregates quarries and hard-rock mining, and to make conveyors, chutes, highway truck beds, crushers, hoppers and troughs.

Durability

  • According to “Steel Heat Treatment: Equipment and Process Design,” the durability of heat-treated hardened steel is at least twice that of untreated and oil-treated steel. Hardened steel is used to make knives, the optimal hardness of which depends upon the proportions of carbon, manganese and chromium. Examples of hardened steels used in knife-making include the 154 CM (chromium 14 percent, manganese 0.5 percent and carbon 1.05 percent); 420HC (chromium 13.5 percent, manganese 0.35 to 0.9 percent and carbon 0.5 to 0.7 percent); and ATS34 (chromium 14 percent, manganese 0.4 percent and carbon 1.05 percent). Knives made from these hard steels last longer than those made from regular soft to medium steels.

Definition of Research Analyst

 

A research analyst is a trained professional who analyzes information to solve problems, improve decision-making methods and the operations of an organization or workers. Research analysts use engineering and scientific methods like mathematical models and statistics to find answers to questions and recommend a course of action.
Research analysts work in many industries and fields of study, although the term is often used for business research analysts, who provide expert analysis and advice in investment choices for high net-worth people and organizations.

Types

  • Research analysts can find employment in the military, and the science, health, transportation, engineering, software development and market analysis industries. These analysts are experts in a field and provide insight into solving problems and improving operations.

Requirements

  • Research analysts need good quantitative and computer skills. A background in advanced mathematics is important for people working in science and statistical jobs. A doctorate or master’s degree is needed, though some entry-level positions require only a bachelor’s degree.

Methods

  • Research analysts use analytical techniques to break down problems into smaller, basic units, using methods from mathematics, science and engineering. Analysts ask questions, carry out independent research and examine the results in search of a pattern or solution to the problem. Analytical techniques used by research analysts include, among others, data mining, computer modeling and simulations.

Forecasting

  • Research analysts are often required to predict outcomes of various scenarios. These scenarios could include anything from the way bacteria reacts to an antibiotic to the behavior of the stock market if the interest rate rises. Well-designed forecasts help managers make better decisions and improve performance.

Strategy

  • Research analysts must understand the theory and principles governing a specific subject or industry. Creative thinking and seeing the big picture of a task or problem are helpful tools.

How Does the Publishing Industry Work?

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Identification

  • The publishing industry is a huge field made up of a variety of venues. Newspapers, magazines, greeting cards, calendars, directories and books are some of the publications within the field. In spite of this vast array, the industry itself is primarily owned by a number of large corporations, many of which own multiple publications. Magazine and book publishers, in particular, are oftentimes purchased in clusters by one company.

    Over half of book publishers’ inventory is made up of scientific, technical and professional titles as these are the most marketable. The remainder is comprised of paperbacks, mail order, reference books and book club titles. Business-to-business and trade-consumer magazines are the two types of magazine publishers within the industry. These vary in size and scope depending on the type of financial backing in place.

Function

  • Regardless of the type of publication, there are only so many ways to bring a publication to press. As such, most publications follow the same procedures within their publishing process. Gathering content is the first order of business across the board. This task is typically handled by an editorial department, which determines what kinds of material to include. From there, staff writers, photographers and artists prepare the content.

    Once editorial staff gather and review the needed content, the next step is determining how to design or lay out the finished product. Newspapers and magazines follow a predetermined layout, allotting so much space for advertisements, content and images. Book publishers may have a predetermined format; however, most book orders are customized.

    As far as revenue generation goes, book, greeting card and calendar publications profit from product sales, whereas magazine, newspaper and directory publications make the bulk of their profit from advertising revenue. This involves local or nationally based businesses purchasing ad space within a publication to get more exposure for their products.

Sales & Marketing

  • Meeting market demands and expanding an existing market base are essential functions within the publishing industry. The larger publications typically have publicity, marketing or circulation departments set up to handle marketing and sales. Demographic data and market trends are studied in order to be able to present the publication in the best possible light.

    The actual distribution of a publication can be carried out in a number of ways depending on delivery schedules, intermediary needs and product type. Book publishers typically ship to distribution warehouses or directly to retailers. Because newspapers are delivered on a frequent basis, the number of distribution outlets can vary depending on the size of the company. Distribution warehouses, newsstands and individual carriers may all play a part in getting the publication to the customer.

Corporate Banker Job Description

The control and ownership of incorporated companies is distributed to many joint owners called shareholders. While this structure allows certain advantages, it also introduces much complexity. Specialized bankers deal with the complicated and unique needs of corporate finance. Also called “investment bankers,” corporate bankers also perform tasks similar to personal bankers.

Corporate bankers, or investment bankers, attend to the special needs of corporations.

Saving and Lending

  • Like individuals, corporations use credit and money. Companies need to keep cash on hand to meet immediate needs like payroll; thus, they maintain accounts that function much like any other savings or checking account, though on a much larger scale than most individuals. For some projects, loans are needed and the government recognizes corporations as “legal persons,” able to obtain credit. Corporate bankers operate much like personal bankers or loan officers in these capacities.

Investments

  • Because corporations often hold large amounts of money, for which they have no immediate need, they often seek to put this money to work for them and yield more interest. To this end, investment bankers advise or act as brokers for various financial instruments. The bankers may recommend stocks, bonds, futures or many other investment vehicles. It depends upon such factors as the return the corporation desires, when it will need the money back and the degree of risk it is willing to accept.

Stocks and Bonds

  • One of the most advantageous aspects of the corporate structure is the ability to raise funds by issuing bonds (debt instruments) and common stock (equity instruments). Conceptually, these activities are simple. The company sells bonds to investors, then issues a regular payment to the bondholders until the bond matures. Upon maturity, the original sale price of the bond is refunded to the bondholder. Stock is sold to the public, which gives buyers partial company ownership and control. Each share of stock entitles the holder to an equal share of company profits and one vote to be used in each issue the board of directors puts up for a vote. While these may not seem terribly complicated, the laws and regulations surrounding the issue and trading of securities requires extensive specialized knowledge.

Education

  • Investment banks vary in size; thus, there is some variation in the education standards of applicants. The largest and most prestigious institutions may demand an MBA from an elite university; the financial sector employs workers with terminal degrees in their disciplines, paying a premium for their credentials and experience. However, smaller establishments, or the more junior positions within the larger ones, may only require a bachelor’s degree. Finance and economics are the most desirable majors.

Conditions and Salary

  • Bankers almost invariably work indoors, in comfortable conditions. Most time is spent either on the telephone; in meetings; or on a computer, doing research or analysis. The more prestigious and well-paid positions have comparably less mundane activities. An investment banker’s salary is ill-spent on filing or making coffee, when support staff can do these tasks for a fraction of the cost to the firm. Despite the physical ease and status of the position, the banker does have the challenges of long, irregular hours and considerable stress. Pay is generally commensurate with the size of the company and the affluence of its clients.

 

 

Key Success Factors in the Banking Industry

Banking is the ultimate expression of using other people’s money to produce profitable transactions. Banks use depositor’s checking and savings accounts to fund loans made at a negotiated interest rate. The depositor funds are paid a certain interest rate and the loans are charged a higher interest rate. The difference between the two is the bank’s profit. Banks also charge fees for certain services and have other profit-generating efforts but in the end the bank does it all with money is does not own and holds in trust for the many people doing their daily banking with the institution.

Prudence

  • Loaning money responsibly and prudently is one of a bank’s foremost endeavors. Successful loan money based on established criteria and will only waver when extraordinary circumstances warrant making an exception.As with every banking function, the bank is using other people’s money and must be perform with prudence and skepticism whenever considering lending for whatever reason. Customers with established track records and long-standing relations with the bank may be able to circumvent lending processes to some degree but this only comes after years of successful banking transactions.Banks must also be prudent in regards to deposits. Paying dividends on savings or checking must be a carefully balanced business decision. Payments must be kept competitive to keep a depositor’s business but extravagance can lead to diminished bank profits. Successful banks always find the right balance.

Marketing

  • Banking is a business and as such must always search for new customers and expand market share. A successful bank will market services, convenience and financial advantages. Banks resting on decades-old laurels will see an aging customer base not invigorated with new customers and more importantly new money.Bank marketing efforts is regulated by federal and state agencies and monitors just what a bank can and cannot say. A successful bank, however, will work within those regulations to see deposits, reputable lending and market share constantly increase.

Banking Practices

  • Banking practices are industry standards such as how the bank handles cash, deposits, withdrawals, payments and financial records. The successful bank will always have statements accurate to the penny and on schedule. Although no bank is perfect, the successful bank has a reputation for fewer mistakes and satisfied customers. Vigilant management, conscientious employees and always improving in areas of technology and customer service keeps successful banks in the lead.

How to Get a Job in the Hospitality Industry

Jobs in finance, marketing and sales are available in the hospitality field. Traditionally, the industry requires a love for helping people effectively in various circumstances. Displaying an affable demeanor is still fundamental to landing the desired hospitality job.

Instructions

  1. Find a niche within the hospitality industry. Hotel concierge, travel agent and restaurant host are just a few examples. Figure out the one most suitable to you by selecting your favorite things to do. For instance, do you enjoy talking to customers? A hotel concierge position may be a good fit.
  2. Take the time to network. Attend an event hosted at the venue where you desire to work. Become acquainted with staff and ask questions about what the company is looking for within your niche.
  3. Build a custom resume for each job application/interview. Find out who is the hiring manager and write a letter to them with your resume. This will show attention to detail and initiative. These are sought-after qualities of a hospitality worker.
  4. Practice showing your skills by being hospitable anywhere you go. A hiring manager may see your ability during the interview and select you for the position right away.
  5. Dress appropriately for the position you are applying for. If the job is at a beach, it may be more appropriate to wear casual, but neat, clothes. Display what the company is looking for before they hire you.

Define Company Analysis

Company analysis, or corporate analysis, refers to actions undertaken for an in-depth evaluation and to gain an understanding of a particular company’s past performance and future prospects. A thorough company analysis will focus on all aspects of the corporate entity, including management structure and expertise, finances, growth prospects, profitability, market share and intangible factors such as goodwill in the market and brand image. Results of the analysis are used in reaching business decisions by external parties, such as whether or not to invest in or go into a partnership with the analyzed company.

Subsections of Analysis

  • The overall corporate quality of a company can be evaluated by studying the business’s core elements, functions and operations. For example, a company may manufacture products of impeccable quality but have a disreputable customer service history. As such, a total company analysis may be broken down into smaller, related analyses of different aspects of the company. When all the reports from the various analysis are used together, the big picture of the corporation’s health is formed.

Internal Analysis

  • When analysis is conducted internally by a business’s management, the results can help in identifying problems and in remedying a situation. Even if a business seems to be performing well, a company analysis sometimes identifies practices and processes that may be tweaked to enhance performance. When performance is more efficient, its associated costs go down and the profit margins go up. In large companies with completely separated departments, a company analysis may prove that processes currently practiced in one department may work equally well in another department. A timely conducted analysis may also inspire innovation to gain market share.

External Analysis

  • When used by external parties, a company analysis answers the questions that an investor may have about the company. Investors may make use of a SWOT (strength, weakness, opportunity, threat) analysis to better understand the company’s current position in its industry, probable position in the near and long-term future and to make educated decisions about engaging in business with the company. SWOT analysis may be particularly helpful when reviewing businesses operating in markets that are demographically, culturally and economically different.

Ratio Analysis

  • Ratio analysis, also known as fundamental analysis, is an evaluation of a company’s financial statements and is an indicator of the company’s past performance and future direction. Analysts may use several different ratios to form a comprehensive picture of the corporation’s financial situation; different groups of ratios aim to evaluate different aspects of a company’s finances, including liquidity, profitability and balance sheet items. Financial ratios may be formed using information for the same company over a number of years for an indication of trend and direction, or using financial data from different companies for a comparison with competitors.
  • Frequency

    • Well-managed companies tend to conduct an internal company analysis on a regular basis, to keep abreast of changes affecting the business’s performance. Managers may present reports of the analysis to shareholders annually, or to attract business prospects. Companies that tend to conduct routine analysis tend to be more in touch with the different contextual factors affecting the business and are more dynamic and responsive to market forces.

Advancement Opportunities for Fashion Designing

Fashion design is the creative force of the fashion industry. According to the Bureau of Labor Statistics (BLS), job growth for fashion designing is expected to grow one percent for the 10 year period from 2008 to 2018. Typically design companies look to hire individuals with Bachelors degree in a fashion design program. Even though advancement opportunities exist, few employment opportunities are expected outside of mass-market clothing design companies.

Design Assistant

  • Design Assistant is an entry level fashion design opportunity that is more administrative than creative, with duties including assisting the design team with fashion illustration and storyboard layout. Many college graduates start at this level. Typically after six months working as a design assistant the next advancement opportunity is an assistant designer position.

Assistant Designer

  • Assistant designers are similar to design assistants, however the assistant designer gets more hands on production experience with pattern making and assisting with sample garment construction. Typically after spending three or more years as an assistant designer you can advance to an associate designer or technical designer position.

Associate Designer

  • The associate designer participates in designing garments for the seasonal collections and works closely with the head designer for creative input and design approval. With five or more years experience as an associate designer, you can seek out a position as a head designer.

Technical Designer

  • According to CareerThreads.com, technical designers are responsible for making sure the fashion designer’s sketch can be made into a wearable garment by overseeing the production side of creating a fashion line. As with the associate designer you will need at least five years experience as a technical designer to advance to head designer.

Head Designer

  • The head designer is responsible for the fashion collections produced each season regardless if the collections are failures or successes. Typically a minimum of five years work experience as an associate designer or technical designer is needed to progress to this level; however, it is common for a design firm to require seven to 10 years experience.

Salary

  • The years of experience you have, job location and employer are the main factors which determine what salary you make at each level. Fashion designing salaries can be lower than $32,150 (entry level positions) according to the BLS or as high as $157,000 or more a year for head designer positions.

Uses of 1026 Steel

American Iron and Steel Institute grade 1026 steel is a low carbon or mild steel with a very simple chemical composition. The steel can have a carbon content of up to .28 percent and still qualify as grade 1026 steel according to AISI standards. The carbon content is typically lower than this, however. The steel is relatively inexpensive to produce because it has a comparatively simple composition. Many industries use AISI 1026 steel, as it is easily welded, machined and forged.

Chemistry

  • The American Iron and Steel Institute standard states that 1026 steel must have a carbon content of between .22 and .28 percent, a manganese content of between .60 and .90 percent, a phosphorus content less than .04 percent and a sulfur content less than .05 percent.

Shop Steel

  • AISI 1026 has a simple chemical structure and is easy to weld using most modern welding processes such as MIG and TIG welding. Because of this, 1026 sometimes sees use as general shop steel for various fabrication products. The bar form of 1026 sees use as a structural material, and 1026 bar stock is often used to build frames or as a base material. Round stock 1026 serves to anchors items in the ground. Bird feeder hangers and garden hooks are often made from 1026 and other mild steels.

Tubing

  • AISI 1026 steel sees use in the production of tubing of various sizes. A coating of oil after production reduces the chances of rust forming. Galvanization will also prevent rust. AISI 1026 tubing serves as a structural material and for short-term plumbing. However, since it is susceptible to corrosion, 1026 tubing is never a long-term plumbing solution.

Parts and Fasteners

  • AISI 1026 is easily shaped in its cold state using lathes, mills and other tools. Because of these properties, the automotive and construction industries use1026 to produce various steel parts ranging from bolts and fasteners to automobile exhausts. However, since it does not respond to heat treatment because of a lack of carbon, 1026 has some limitations. Items made from 1026 will remain relatively soft. This means 1026 is not suitable to make parts that undergo high levels of stress or require sharpening. The steel bends easily and does not hold an edge.

Factors Affecting the Growth of Fast Food Companies

Countless factors may affect the success of a fast food restaurant. Everything from the specific type of establishment to the size of the building and local community demographics can have a dramatic effect on a fast food establishment. Significant research and effort may be required to strengthen the business and increase profits.

More Than Just Burgers

  • Many different types of fast food establishments exist, each one with a niche in the marketplace. These restaurants cater to the public’s desire for different types of food. The most common type of fast food restaurants serve beef burgers and french fries. Other establishments serve only fish, chicken or similarly popular meals. Still, other niche restaurants cater to those who want only one type of food in varying degrees of presentation.

Avoiding Stiff Competition

  • The proximity of one fast food restaurant to others may have an effect on its success. If another establishment that serves identical meals is within a close range, the result will be increased competition and potentially lower gross sales. A restaurant that is near a similar one must attempt to draw customers from the competition with promises of additional benefits, features and lower prices. Obviously the highest chances of success exist when there are no other fast food restaurants close by.

Attracting a Large Customer Base, Literally

  • A fast food restaurant’s size may have significant effect on its success. Larger buildings can serve more customers at one time. Providing customers with appropriate seating in a comfortable environment increases the likelihood that they will stay for longer periods during meals, thereby increasing the chances that additional products, like desserts, may be purchased. Additionally, larger buildings allow for a more significant surface area for outdoor advertising. Signs, banners and other creative marketing methods can be applied to the exterior of the building, resulting in dramatically higher exposure to passersby.

Location, Location, Location

  • Demographics may be the most significant factors affecting the success of a fast food restaurant. Restaurant owners should examine the ratios of male to female, average income, education levels and other essential characteristics of the people living nearby. Advertising and marketing can be tailored to take advantage of the demographics information. Demographic information can be effectively used in drawing the local residents to the fast food restaurant.

What’s In a Name

  • Something to consider is that many fast food restaurants may have certain measures for success based simply on their major trademarked names. Think McDonald’s, Burger King and Wendy’s and their quality management that lends itself to their financial success. Those establishments that are the nation’s leading fast food chains have a chance at attracting a number of customers merely because of familiarity and convenience. Predictability concerning products and prices often appeals to a large number of people.

How to Conduct an Industry Analysis

Entering a new industry can bring huge benefits to an organization or it can end in complete disaster — an industry analysis can help you to create the former possibility and to avoid the latter. An industry analysis will give you an indication of how friendly a particular industry is to new business. There are a variety of factors that should be measured, but the easiest way of doing this is by organizing the factors in a SWOT analysis. A SWOT analysis measures the specific strengths, weaknesses, opportunities and threats that exist in a particular industry. Following a few basic steps will allow you to easily perform your own industry analysis using this method.

Instructions

  1. Write down all of the strengths that currently exist for the industry you are analyzing. A strength is anything that is beneficial about the industry. An example of a strength would be the potential for long-term growth. Don’t focus on your company, focus on the industry you are analyzing.
  2. Write down a list of all the industry’s weaknesses. For example, a weakness might be that the industry is highly competitive or volatile. Consider anything that would be disadvantageous about entering this industry.
  3. Write down a list of all the opportunities in the industry. For example, are there many untapped markets for the industry or opportunities for technological breakthroughs? List any opportunities in the industry that may be exploited in the future.
  4. Write down a list of all the threats to the industry. For example, a threat to the oil industry could be environmental legislation, or a threat to the television industry could be Internet entertainment programming. A threat is anything that has the potential to disrupt or damage an industry.
  5. Analyze the strengths, weaknesses, opportunities and threats you have just laid out. What you want to determine is if the strengths and opportunities are greater than the weaknesses and threats. This is a difficult process. You should consider the number in each category, but you should try to understand the impact of each category overall.

Director of Finance Job Description

Directors of finance are responsible for the finance activities of their assigned division or divisions. Finance directors work for corporations, consulting firms and nonprofit agencies. The Bureau of Labor Statistics says, “Employment growth for financial managers is expected is to be about as fast as the average for all occupations. However, applicants will likely face strong competition for jobs. Those with a masters degree and a certification will have the best opportunities.”

Compliance

  • Finance director titles are used in both accounting and finance departments. However, they are responsible for compliance and regulatory issues pertaining to the financing activities of their organizations. The director of finance is involved with all financing sources for his assigned divisions. This includes activities related to stock and corporate bond activity, equity investors and all non-traditional financing sources.

Subject Matter Expert

  • The director of finance is the expert on compliance and regulatory issues related to finance. She will consult with counsel and executive leadership on proper financing activities and all necessary and required disclosures. The director of finance is responsible for adherence to the corporate finance policies, and reports any deviation to her direct supervisor. Most directors of finance report to the chief financial officer or the chief accounting officer.

Forecasting

  • Finance directors are responsible for all corporate forecasting. This includes sales and revenue forecasts as well as competitor forecasts. Finance directors build forecast models and metrics to accurately predict the outcome of a potential or proposed business transaction. These transactions may include expansions, mergers, acquisitions, capital projects or divestitures. These forecasts are usually developed for executive level leadership.

Strategic Planning

  • Strategic planning is a critical responsibility of directors of finance. Many capital expenditures, mergers and acquisitions and major expansions take months or years to plan. Strategic planning is vital in making these projects successful. Pro forma financial statements, projections and success metrics are all required for project approval. Planning for projects of this magnitude requires financial professionals with extensive education and work experience.

Investment Activities

  • Directors of finance are responsible for some or all investment activities. Financing activity varies greatly depending on the size of a company, but all companies have some degree of investment activity. These investments could be as simple as a money market account or simple interest-bearing account. However, in large companies, investments may include corporate securities, annuities and taking stakes directly in other companies.

Management and Mentoring

  • The finance director manages the finance department employees. This includes the analysts, clerks and statisticians. The director of finance is responsible for directing the staff’s activity and for assigning workload. The director of finance assists the recruiting department with finance staffing issues. Directors of finance must be solid managers and leaders. They are responsible for developing and mentoring their subordinates.

 

Dimensions of Market Analysis

A market analysis is included in a strategic plan to identify a company’s position and potential. It sets the foundation for a business, organization and marketing strategy. Without a thorough market analysis, a company may not understand how current conditions may affect profitability. These conditions can be any internal or external factor influencing future investments. Dimensions of market analysis include environmental issues, competitive positioning, target audience behaviors and any related factor influencing the success of the organization.

Environmental Analysis

  • Political agendas, social influences and local economy are environmental factors that are included in a market analysis. These make up a subdivision of external issues, or macro-environmental factors. Micro-environmental factors deal with an organization’s internal position. Examples of micro-environmental factors include the number of employees, department structure, supplies, competencies and budget. Any force that can impact the company is considered an environmental factor. The key to covering this dimension of market analysis is to ask: 1. Who drives the organization? 2. Who or what can benefit the organization? 3. Who or what can hurt the business?

Competitive Analysis

  • Businesses must evaluate competitors in their industry. Competitors are defined as companies that can produce a similar service or product and serve the same customers. This dimension of market analysis includes noting similarities and differences in key competitors’ strengths. These strengths could be defined in terms of product cost, operational efficiency, brand recognition, or market penetration. Including a competitive analysis supports the case for new opportunities to gain customers and revenue.

Target Audience Analysis

  • Each business targets a group of people who are most likely to purchase their product. Identifying this group based on location, age, gender, income, ethnicity, activities, beliefs and behaviors is part of the target audience analysis. In this dimension of market analysis, people who use the product or influence the purchase decision are included in the target audience. For example, a car dealership may target women 35 to 45 years old as those more likely to drive minivans, although their husbands may ultimately make a purchase. If the car dealership includes women as an influence on car purchase decisions, they may discover creative programs and advertisements that persuade women. In addition, target audience analysis may include more than one group or segment.

SWOT Analysis

  • SWOT stands for strengths, weaknesses, opportunities and threats. This portion of market analysis establishes a direction based on key issues being addressed. The SWOT analysis examines the internal strengths and weaknesses against the external opportunities and threats. This analysis is a more detailed perspective concerning the business objective, with reference to other dimensions of market analysis.

Milk Pouch Packing Machine Can Retain the Freshness of the Product

It goes without saying that the pouches are in huge demand in the food industry. Large numbers of food products need to be manufactured in pouches. Milk, for instance, is one of the most important products that need to be packed in pouches. A milk pouch packing machine is certainly of great help in this context. The machinery is designed in such a way so that it makes use of special sealing capacity to tighten the pouch. In addition to that, the manufacturing is carried out in such a way so that the pouch remains air tight and enhances the overall longevity of the milk.

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Growth of the Packaging Industry:

The packaging industry is growing at a steady rate in the recent years. Manufacturers of liquid and powdered products look for some of the highest qualities of machines to produce pouches. After all, it requires extreme care and caution to export the milk and other liquid products across the world. For most milk manufacturers and exporters, the packaging solution certainly matters a lot. In this context, the importance of an appropriate and high quality milk pouch packing machine cannot be overlooked at any cost. It definitely helps in serving a great purpose, as a whole.

Product Specifications:

In the recent years, most machines are automated. As a result, a product specification can easily be entered while manufacturing these pouches. The weight, size and capacity can be pre-specified prior to the manufacturing process. On the basis of that, it can customize a product as per the requirements. These machines are also designed for accuracy, speed and quality. Consequently, it results in freshness and longevity of the milk filled in the pouches. In fact, these pouches also help in retaining the mineral content of the pouch.

Multiple Pouch Formats:

With the sophistication of technology, it will not be difficult for you to find out the best machines for pouches. Moreover, you will even find a milk packaging machine that can manufacture multiple pouch formats. Therefore, it will not be difficult for you to find one that best suits your needs. The innovative packing solutions are tamper-resistant, leak-proof and non-resistant to chemicals. Apart from pouches, you can also get in strips, tubes or boxes. It is up to you to decide how you want to pack the milk and on the basis of that you can make your selection.

Quality Is Crucial:

It is a well-known fact that quality is often the major factor that helps in determining the ideal packing solution. Moreover, the milk packaging machine should also adhere to the latest industrial standards in manufacturing pouches or other types of packaging solutions. This in turn also results in sturdy packaging that tends to be attractive, as a whole. The products contained in the pouch can help in maintaining a strong shelf life and attract the attention of customers. Moreover, the pouch formats used should be unique and innovative and maintain the freshness of the products in great ways.

U.S. Census Statistics Regarding Sweatshops & Slave Labor

Sweatshops and slave labor are still prevalent practices in our modern world. U.S. labor statistics report that many sweatshops around the world are not adhering to labor laws. Slave labor in the form of human trafficking is also rampant. Statistics reveal that poverty wages and inhumane working conditions are often the plight of sweatshop and slave labor workers.

Apparel Sweatshop Statistics

  • The U.S. Bureau of Labor Statistics’s most recent report on sweatshop labor in 1997 found that in 150 countries across the world, about 2 million workers manufacture clothing for American retailers. These workers are mostly women and teenagers, and about 80 percent of them work in sweatshop conditions that are in violation of local and international labor laws. The salary that workers are paid is very low compared to how much the average American family spends on clothing. The BLS reported that, in 1999, the average American family of four spent $1,831 on apparel, and of that amount only $55 went to the workers. Statistics also revealed that the salaries of apparel workers between 1968 and 1999 had an inflation-adjusted 16 percent drop.

U.S. Retailers Involved in Sweatshop Labor

  • Top U.S. retailers, including Ann Taylor and J. Crew, manufacture clothing in sweatshops, according to a report from Behindthelabel.org. According to a 1998 National Labor Committee report, Ann Taylor workers at Kang Yi Fashion Manufacturers in China were paid on average 23 cents per hour and were forced to work up to 96-hour workweeks. Similar issues were also prevalent in sweatshops that manufacture J. Crew clothing. According to Sweatshop Watch, J. Crew skirted anti-sweatshops laws by not registering as a licensed manufacturer in the state. In 1998, the Department of Labor penalized J. Crew for wage violations. Despite this penalty, J. Crew issued bounced checks to workers and allowed the factory to go out of business in 2000, leaving back wages unpaid.

Human Trafficking and Sex Slave Labor

  • Human trafficking still remains a prevalent system of enforcing slave labor. In a 2007 report from the U.S. Department of State, there are approximately 12.3 million people who are subjected to forced slave labor at any given time. Victims of slave labor are often vulnerable children and young women. Sexual slave labor is the most prevalent form of human trafficking. Women and girls account for 80 percent of victims trafficked from one country to another — and 50 percent of those victims are minors.

Human Trafficking and Underage Slave Labor

  • Forced labor on ships on the high seas is also an avenue for human trafficking. Victims are often lured by the promise of high-paying fishing jobs and are later forced to work under unsanitary and harsh conditions. The report from the Department of State reveals that 40 percent of workers in some fishing industries are under the age of 18. The report also featured a story of a 6-year-old Ghanian boy who was rescued from a boat on Lake Volta in Ghana, where he was working for just $20 a year.

How to Study for a Corporate Finance Exam

Risk versus reward is all in a day’s work for people who work in Corporate Finance. But to land this job, there are a series of exams you have to pass. Solid study skills are sure to help you make the grade and pass the test.

Instructions

  1. Find a study area that is quiet and isolated. It also is handy if you have reference materials nearby, just in case you need them. For Corporate Finance, you’ll find necessary materials in the business section of your local library.
  2. Gather your supplies. This includes your notes, textbooks, paper and a calculator. Pausing to search for items you need distracts you from absorbing the information.
  3. Memorize your notes. By attending class, you should have a good idea of what the professor thinks is important. Pay close attention to anything that was emphasized in class.
  4. Research answers that you are unsure about. It could show up on the test, so it’s best to be prepared.
  5. Combine your materials into a study guide. Some people type out a study guide; others prefer flash cards. Just make sure it’s handy enough to take with you so you can study on the go.
  6. Form a study group. Sometimes, other people have a unique way of remembering answers. The group can also practice for the exam by quizzing each other.
  7. Pause if you begin to feel overwhelmed. Stress can cause you to forget everything you’ve studied so far, so don’t push it.
  8. Rest. Pulling an all-nighter can be disastrous. Adequate rest is essential if you want to recall important information.
  9. Read over your study guide one more time before the test. Pay special attention to the areas where you struggle.

Statistics Used in Determining Insurance Rates

Although statistics is important in many types of business, it is particularly important to the insurance industry. Statistics is used to determine what risk an insured poses to an insurance company, what percentage of policies is likely to pay out, and how much money a company can expect to pay out in claims.

Actuaries

  • An actuary is a person trained in investment strategies and statistical tools. Actuaries need to know investment strategies in insurance because of the diverse range of products in the insurance field. For example, an actuary may be working with pensions and retirements under a life insurance umbrella. Actuaries are required to pass tough examinations in almost every country to demonstrate they have a sound knowledge of probability and statistics.

Making Decisions

  • Statistics isn’t an exact science: actuaries look at statistical data and make a best guess at what the data is telling them. In order to prepare for making decisions, actuaries study decision theory, a subset of mathematics and statistics that includes game theory. Game theory helps an actuary to understand what a person is likely to do and why. For example, if an auto insurance policy holder goes into debt, he may be more likely to file a false claim on his vehicle to make money. There are no definite figures for this type of human behavior; the decision to charge a higher premium for certain risks is made by the actuary based on his knowledge base.

Loss Distributions

  • A loss distribution can give an actuary a picture of claim behavior over a certain period or show how categories of claims stack up against each other. For example, an actuary might construct a histogram, a type of bar graph that compares categories. The bar graph might show how claims relate to age groups for life insurance. The actuary will be able to look at trends and see if higher premiums for certain age groups are warranted.

Linear Models

  • A linear model can be used to see if one category or item is related to another. An example of a linear model is linear regression: data points are plotted on a graph to see if they have a linear relationship; in other words, can a straight line be used to represent the data. If a straight line can be drawn, this indicates that there is a relationship between the two categories. A linear model can be used to find out information about how age, gender, salary and other characteristics relate to claim size.

Time Series Models

  • A time series model is where an actuary looks at how a particular item performs over time. For example, they may look at how policyholders’ claims history changes over time to determine how much to charge for specific policyholder characteristics or they may study the performance of investments over a period of time to determine rates to charge for whole life insurance policies.

How to Write an Industry Analysis

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An industry analysis is a component of the business plan that provides statistics about the market potential of your business, product and services. This section contains specific information about the current state of the industry and target market and might contain reference materials such as spreadsheets, pie charts and bar graphs to represent the data.

Instructions

  1. Begin with an overview of the industry. Provide statistics and historical data about the nature of the industry and growth potential for your business based on economic factors and conditions. This section should not be longer than eight lines.
  2. List the major competitors in your industry with a brief summary of their operations and similar products or services. This section can be broken down into sections, with three to four lines per business.
  3. Summarize the nature of the industry. Include specific information and statistics about growth patterns, fluctuations related to the economy and income projections made about the industry.
  4. Provide a forecast for your industry. Compile economist data and industry predictions for the next five, 10 and 20 years. This may include graphs of statistical data to better convey the message.
  5. Identify government regulations that affect the industry. Include any recent laws pertaining to your industry and any licenses or authorization you would need to conduct business in your target market. This section may include information about fees and costs involved.
  6. Explain your company’s position within the industry. Include information from your Competitive Analysis and Unique Selling Proposition as well as data for direct and indirect competition. This section can be as long as one-quarter page and may be supported by graphs, charts and tables.
  7. List potential stumbling blocks. Write a brief paragraph about factors that might negatively impact your business and what you foresee in the short-term and long-term future.

How to Start a Cottage Industry

Many reasons exist for wanting to start a cottage industry, whether you have suffered a layoff and are seeking an alternate career or are simply fulfilling a long-time desire to have your own home-based business doing something you love. Whatever the case, you can get off to a solid start when following a basic game plan.

Instructions

  1. Target the products or services you will provide. Make a list of items you are good at creating. If your list is short or nonexistent, you may want to consider things in which you are interested and could learn how to do. Go through the list and consider the implications of making those items or providing that service in terms of time, cost and degree of competition you will face. As you research, keep a notebook of any resources you come across or ideas you have. All will later come in handy.
  2. Research the state and federal home-based business laws and zoning requirements on the industry of interest. The laws could differ significantly, depending on your industry.
  3. Create a name and image. Think about your target audience as you deliberate and how you want your business to appear. Consider packaging, labeling, logo and tagline. Keep various notes on your thoughts as you may change your mind several times after your business is operational. Once you have a name, you will need to file for a fictitious business name in accordance with state law.
  4. Create a website. Before the rise of the Internet, most cottage industries promoted their businesses at craft fairs, church events and basic word of mouth. Now, businesses gain more exposure for much less effort through websites, whether through their own domain names or a sub-domain on a larger site like eBay, Etsy or Artfire.
  5. Promote your website. Scores of ways exist to do this. The thing to keep in mind is to find a target audience and advertise to them specifically. The most beneficial way to do this is to look for other blogs or websites that fit into your niche. Often, these sites are happy to run a feature post or page on businesses and products.

Job Description of Finance Staff

Finance employees play a major role in corporate financial accounting and reporting mechanisms. They ensure that a company reports accurate and complete financial statements in conformity with accounting principles. They also help a firm's top leadership appraise the company's economic picture.

Responsibilities

  • A finance professional may engage in various duties, depending on the industry, the company's size and position specifications. A tax accountant ensures that a firm files income data with fiscal authorities in accordance with Internal Revenue Service (IRS) guidelines. An investment specialist helps a company engage in long-term expansion projects such as mergers or acquisitions. A financial accountant prepares corporate financial statements that adhere to generally accepted accounting principles (GAAP). A financial analyst compares current vs. historical data to detect business performance trends such as profit margin (net income over sales).

Education and Training

  • A finance position typically requires a four-year college degree in accounting or finance. Internships or accounting and finance trainee positions may require associate or lower degrees. A job seeker with a liberal arts background may work in the field, provided that she receives practical training. A senior finance manager or accountant may have a master's degree in auditing, taxation or financial management or hold a certified public accountant (CPA) license.

Salary

  • A finance employee's total compensation depends on his academic training and professional credentials. The company's size and the industry also may affect salary levels. The U.S. Labor Department's Bureau of Labor Statistics reports that median wages of accountants and auditors were $59,430 in 2008, with the middle half of the occupation earning from $45,900 to $78,210. The same research shows that median wages of financial managers were $99,330, excluding annual bonuses and stock options, with the middle 50 percent earning from $72,030 to $135,070.

Career Development

  • Career growth opportunities for finance professionals depend on the industry and the company's staffing needs. A finance worker who holds a professional certification, such as a CPA, a certified financial manager (CFM) or a certified internal auditor (CIA) designation, has more chances of promotion. An advanced degree, such as a master's or a doctorate, in investment analysis, finance or economics, also could be a career booster. A competent and productive finance staffer typically gets promoted within two to five years.

Working Conditions

  • A finance professional typically works 40 hours a week, from 8 a.m. to 5 p.m. Working hours may vary by industry, employee responsibilities and location. For instance, a risk manager working for an investment bank may work late nights, early mornings and on weekends, if the company is involved in a joint-venture transaction that must be completed within three months.

How to Analyze Key Industry Trends & External Trends

 

There are two major schools of thought regarding investment analysis: technical and fundamental. Technical analysis looks at historical trends in price and volume charts to find clues about the direction of the market in the future. Fundamental analysis looks at the value-based trends in the market and industry in which a company operates.
No matter what company you’re investing in or considering investing in, analyzing key industry trends and external statistics can give you an edge over other investors. One of the most popular frameworks for analyzing key industry trends and external trends is the SWOT Analysis.

Instructions

  1. Review the components of a company’s SWOT (Strengths, Weaknesses, Opportunities and Threats).
  2. Determine the strengths. Strengths are considered from an internal perspective. Analyze the strengths of the company (or product) in reference to the entire industry. Look to match up company strengths with industry trends. An example is a sole-sourced contract or a hot new product introduction that meets industry trends.
  3. Analyze the weaknesses of the firm. Weaknesses are those things or events which leave the company weak from an internal perspective. These are specific to the company and may or may not be in line with the industry. An example is poor internal sales numbers or litigation.
  4. Analyze the opportunities. These are external to the company and deal with how the company is positioned with external trends. An example of an opportunity is tax breaks for the upcoming tax year on products in your industry.
  5. Analyze threats. These are external risks that pose a problem for the industry as a whole. An example is legislation that limits or regulates industry participants.

Facts About the Automobile Industry

The automotive industry worldwide produced about 806 million cars that remain on the road today, with more than 250 million of those vehicles operating in the United States. But the industry plunged into a steep financial decline in the first decade of the twenty-first century, which was exacerbated with the collapse of American financial institutions beginning in 2008. Most automakers posted losses in 2008-09, with the United States government providing multi-billion-dollar bailouts to General Motors and Chrysler LLC.

Stiff Competition

  • After two decades of aggressive expansion, Japanese automakers produced 12.5 million vehicles in 1992, while American car builders built 11.7 million that same year.

Growing Demand

  • American and Japanese automakers struggled in the early 2000s to keep up with the demand from India and China to produce cars, while alliances between American, Japanese and Indian builders become common.

External Pressure

  • Rising fuel prices in 2007-08 and competition from public transportation dramatically changed customer buying habits, while 51 American assembly plants and more than half a million jobs were projected to be lost by 2010.

Ford Losses

  • The Ford Motor Company reported a $14.6 billion loss in 2008 but refused government bailout funds, saying that $23 million in commercial loans would carry it through the crisis.

GM Bailout

  • General Motors received $15.4 billion in government bailout money by February 2009, but cut nearly 8,000 jobs that month.

How to Become a Marketing Manager in the Fashion Industry

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Marketing professionals working in the fashion industry perform similar duties as marketing experts in other industries. In addition to conducting market research and managing the e-commerce activities for company products, marketing professionals maintain websites, compose newsletters and handle internal communications for their organization. However, additional credentials such as previous experience in the fashion industry or a degree in a related discipline are necessary for obtaining a position with a clothing, shoe or retail company.

Instructions

  1. Obtain a bachelor’s degree in marketing, advertising, fashion merchandising, business administration, management or an industry-related discipline. Take classes covering fashion merchandising, textile sciences, public relations, finance and accounting. Participate in internships with boutiques, fashion outlets, department stores or clothing companies that offer hands-on training and work experience.
  2. Apply for an entry-level position as a marketing coordinator or sales assistant with a fashion company. Shadow experienced employees and build your experience by working on projects that cover all areas of marketing. Volunteer for projects involving sales analysis, advertising, promotions, consumer behavior and graphic design. Become familiar with Internet technologies such as search engine optimization, display advertising and social media.
  3. Spend at least three to five years developing expertise in the fashion sector. Learn the latest marketing and fashion trends as well as marketing tools used to monitor and measure media in major fashion publications. Accumulate experience by planning and executing marketing campaigns; writing email newsletters; handling investor relations; supervising subordinates; and working closely with management to improve business processes. Work on strengthening your project management, communication, leadership and analytical skills to improve your chances for promotion to positions with greater responsibility.
  4. Apply for marketing manager roles internally or with an outside company that better matches your career interests, skill set and long-term goals. Demonstrate your experience in the fashion industry by developing a well-organized resume. Consider maintaining an online blog on the fashion industry, or a Web portfolio that displays work and achievements from previous fashion marketing positions. Use your resume, blog and online portfolio to distinguish yourself from other job candidates.

Find The Strength Of Your Pet Containers Wit Top Load Tester

The PET industry has been serving the needs of a variety of industries for a long time. Today, PET containers are preferred as the most appropriate solution for packaging of a variety of Products. These products include the food items, medicines and other pharmaceutical products, beverages and chemicals. If the packaging of these products is not with good quality, it may lead to degraded quality of the products which is not acceptable as these products are directly associated with the health of the products. In order to provide best safety and hygiene to the products, it is important to make sure that the packaging used for these products is of best quality. It is the responsibility of the manufacturers of PET containers to make user that the containers provided by them to the clients are of best quality and can offer the best safety in the products.

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There is a variety of quality testing instruments and QA procedures that must be used in the PET industries for quality assurance of the PET containers. These testing instruments make sure that the PET containers that are provided to the clients are strong enough to survive the excess of pressure exerted on them by the products inside them. Here are some of the testing instruments that are used for quality assurance of the Products in PET industries.

Top load Testers

The PET containers are transported in batches of 10 or 12 bottles and are stacked like one upon another. This exerts an enormous amount of pressure and a compressive force on the bottle. This excess of pressure may cause deformation of the Bottles. This deformation may also cause the degradation of the quality of the products that are packaged inside them. In order to ensure the best safety of the products, the bottles are tested for deformation due to compressive forces from the top with the help of a Top load tester. The top load tester helps in determining the maximum amount of compressive load that a PET container or bottle can bear without deformation. The test is commenced in batches of twelve bottles, and then an average of the forces needed for deformation of the bottles is taken. This gives an accurate analysis of the highest amount of force that a bottle can bear during storage or transit without being deformed.

With the help of a top load tester, the manufacturers can make sure that the PET containers they are providing to their clients are sure to provide best safety and hygiene to the products that are packaged using these containers.

How to Open a Pharmaceutical Company

According to the U.S. Department of Labor, as of 2010, the pharmaceutical industry consisted of 2,500 places of employment located all over the United States. Advances in medical technology and the higher demand for natural and alternative medical solutions affects the growth of the pharmaceutical industry. Advances in the manufacturing process are also affecting the industry, with firms looking to improve the drug production pipeline to become more competitive. Opening a pharmaceutical company requires a large investment, sometimes $10 million or more, and compliance with many government regulations and licensing requirements.

Instructions

  1. Create a business plan. Include the general idea of the pharmaceutical company. Devote additional time detailing where the funding will come from. Since pharmaceutical companies usually need large investments of millions of dollars, the financial projections and estimates should be very detailed and credible. Hire an accountant, a lawyer, and a business professional with experience in pharmaceutical startups. Build the business plan with this team of experts. Include possible distribution channels, promotional plans, an analysis of the competition and break-even analysis. Use the business plan to present the idea to investors and banks to obtain funding.
  2. Recruit talent. Professional occupations in life sciences and physical science have the highest demand in pharmaceutical companies. They usually work in the applied research area of research and development. According to the U.S. Department of Labor, a substantial part of the research and development budget goes towards this type of research and scientists. To recruit the best talent, you need to offer higher-than-average wages and additional benefits. Study the competition to compare salaries and benefits. If you have a pool of talented and accomplished professionals ready to work for your company, it can help you secure funding to start the company.
  3. Set up a location for your pharmaceutical company. Once funding for your company has come through, you should construct or rent a building where you can do chemical research, perform administrative operations and have access to transportation lines such as airports or trains. Work with your scientific talent to create a list of supplies and equipment you will need to start. Hire a laboratory manager to handle personnel and day-to-day operations. Hire business professionals to handle financial analysis reports and to manage daily and monthly budgets.
  4. Apply for and display government and state licenses. You will need building permits, permits related specifically to medical equipment, bio-hazard waste licenses, business permits and high insurance coverage.
  5. Create a marketing team. Hire a team of professionals preferably with experience in the pharmaceutical industry. Develop a plan to target other companies and health providers along the distribution line. Build relationships with clinics and medical establishments. Send them free information about new drugs or research developments, and create radio, TV, and print commercials for new treatments and medicines.
  6. Build a competitive advantage by supplying the growing demand for natural health products and alternative medicine.

How to Install a Bootz Steel Bathtub

Porcelain plus steel equals strength and beauty. Bootz Industries has been making porcelain-coated steel fixtures since 1979, although the company began in 1937. Many home improvement stores carry these tubs for sale to contractors and handy homeowners. Since bathtubs can be awkward to carry, it is best to have someone on hand to help install the tub.

Instructions

1.     Remove the old tub from the bathroom. Use the screwdriver to help remove faucets and the overflow shroud. Use the utility knife to cut away old silicone. The drain wrench is used to remove the old drain. You will probably have to remove all or part of the wall above the tub, as the wall covers the flange on the tub.

2.     Inspect the ledger boards that the rim of the tub sits on. If these boards look water-damaged or are showing signs of rot, replace them. The ledger boards help to support the tub when it is full of water.

3.     Inspect the p-trap that the drain attaches to. If it looks like it is in good shape and not showing signs of degradation, then it can be reused. If it does not look good, replace it at this point. Be sure to replace it with another p-trap, otherwise sewer gasses will continually invade your bathroom.

4.     Install the new tub, taking care not to damage the porcelain finish. Check for level, both back to front and left to right. Use the plastic shims as needed. Once the tub is level, attach it to the wall studs with the stainless steel screws.

5.     Install the drain and overflow assembly, according to manufacturer’s directions. Use the drain wrench to install the new drain, taking care not to over tighten the drain, as this could damage the tub.

6.     Install the new walls. How this is done depends on the type of wall surface chosen. Once the walls are finished, you can install the new faucet and spout.

7.     If any or all of these steps seem to be too much to bear, you can always contract out the work to a professional interior renovator like the Orlando Group.

Buy Best Quality Thread Gauges from Reputed Manufacturers Online

Thread-gauges-supplier

I wanted to invest in a gauge as I own a production shop where the screws and the nuts have to be inspected for acceptance. As it is my own business, I have to be careful about the money I invest in it. These thread gauges are mainly used in the shop for acceptance gauging of threaded parts. These have to be checked properly so that I ended up purchasing the right products. There are different types of gauges which need to be used for the process. On searching online, you will come across many manufacturers and suppliers who offer a wide range of tinkering instruments. To choose the right type, you need to first know which type would suit your requirement.

These manufacturers offer thread ring and plus gauges. These include GO / NOGO, RH/LH (right hand and left hand). The solid ring gauge can be made use of to check the acceptance of a screw which is an externally threaded part. Usually the GO and NO-GO rings are separate pieces. This helps to check the correctness of the thread through depth and pitch diameter. The adjustable ones are also ring shaped which have a split and an adjusting and locking screw feature which helps for fine tuning.

Thread plug gauges can be used to inspect the acceptance of a nut that is an internally threaded part. It will be double ended for small threading parts. One end will carry the GO gauge while the other end will carry the NO-GO.  There are usually two separate pieces for larger parts. This type helps to check the accuracy of the pitch diameter.

There are some factors you need to consider while looking for a manufacturer –

  • A professional supplier should have a good stock of the gauges that the customers would require. They should be available in varied sizes to meet different customer needs.
  • They are very particular about the quality of products they offer. They adhere to strict quality control in the manufacturing process. They ensure to test equipments to provide the best to customers.
  • It is always good to look for manufacturers of thread ring gauges who provide customize production services to meet unique customer requirements. They provide plugs or rings as per your specifications. When I wanted to purchase these products, I was not able to find rings as per my requirement. This is when I came across a manufacturer who offered customized production services and ensured to deliver the product I was looking for.
  • There may be times when you will need products quickly. For such times, you need to ensure to choose a supplier who offers quick delivery of products on an urgent basis. This does not require you to wait not affecting any of your processes.
  • You need to check the customers they have provided services to, to get an idea of their quality and popularity in the industry. A good portfolio directly signifies high quality service.

It is essential that you purchase from a manufacturer that has good customer reviews. This is one thing I searched well on the internet as I knew that if the customers of a company are satisfied, the product will be of good quality.
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LWD Applications in Civil Engineering Works

Light weight deflectometer devices make it easier to determine the compaction quality and soil bearing capacity of ground materials, pavements, and non-cohesive subbases. They allow for uncomplicated soil testing, providing a huge improvement on tedious traditional testing methods. The principle for light weight deflectometers was first developed as early as 1982 by a German company. Since then, the device’s processes and mechanisms have been continuously optimized.

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Thanks to the development of light weight deflectometers and its testing principles, analysis of in-built soil layers are carried out more quickly and without the need for bulky equipment and vehicle. This makes them suitable for testing sites and areas that are difficult to access. LWD machines have varied applications in many areas of civil engineering works. They are useful in road construction, railway and airport runway engineering, and other types of earthworks. They can also be used for quality control and protection of utility trenches and canal construction as well as in the examination and evaluation of foundation fillings and roadbeds.

Light weight deflectometers are suitable for self monitoring as they are designed based on universal standards. They are also easy to handle and provide immediately available results. The modern designs of LWDs feature a sturdy construction with an ergonomic configuration so they can easily be transported and operated by one person. Safety features are also installed to ensure security when the unit is in use or in storage.

The most recent version of load bearing capacity measurement device, LWD is highly useful during the early stages of construction especially when testing subgrade and other materials that are difficult to access using traditional testing methods and measuring equipment. It is also said that LWDs have great potential in supplementing and even replacing some of the now obsolete means to measure soil suitability during pavement design and construction phases. Some of the testing methods and equipment the light weight deflectometer supplements well include the falling weight deflectometer, dynamic cone penetrometer, static plate load testers, and vane test equipment.

The load bearing capacity of pavement surfaces is important to determine during the initial stages of the design process. This helps ensure the suitability of the area in question for the project at hand. While light weight deflectometers are fairly new in the scene, they are showing great promise when it comes to soil quality control for different civil engineering works and processes. TERRATEST GmbH – Light Weight Deflectometer

How to Install Steel Frame Doors

Steel doors and frames are often used in commercial applications, as well as in some exterior residential openings. They offer additional strength and support compared to wooden units and are also longer-lasting. A steel door and frame can be installed into any type of wall including drywall or masonry partitions. Unlike residential pre-hung units, steel doors and frames are typically installed separately from one another. To improve your chances for a successful installation, it’s important to size the door and frame correctly and use the right tools and equipment for your particular project.

Installing Steel Frames in Drywall

  1. Choose the correct frame. Use knock down steel frames for installation in drywall partitions. These frames come in three separate sections so they can be installed after the drywall is finished. The jamb size on your frame should be 1 inch larger than the thickness of the wall around the opening. For instance, steel frames in 4-7/8-inch walls should have a jamb depth of 5-7/8 inches.
  2. Angle one jamb of the frame so that you can fit it into the opening. Starting at the bottom, press the frame firmly against the wall so that it slips around the edge of the opening. You may need to use a rubber mallet to tap the jamb in place.
  3. Connect the header. Fasten the tabs or clips at the top of the installed jamb to the corresponding clips on the header. Wrap the header around the top of the opening.
  4. Install the remaining jamb by fastening it to the clips at the end of the header. Work your way down the wall, pressing the jamb into place so it wraps the drywall partition.
  5. Tighten the compression anchors on the frame using an Allen wrench. These anchors should firmly hold the frame to the drywall but should not be over-tightened. When these anchors are too tight, they can warp the frame or damage the drywall.

Installing Steel Frames in Masonry

  1. Select the right frame for the job. In a masonry wall, steel frames should have a jamb depth equal to the wall thickness. This allows the frame to butt up against the masonry rather than wrapping around the walls. A steel frame installed in a 6-inch block wall will require a 5-3/4 inch jamb depth. This is because a 6-inch block wall will actually measure 5-3/4 inches, which is standard practice with masonry materials.
  2. Install the frame before the masonry work begins. Layout the floor and determine the location of the door. Set the frame at this location and fasten it to the floor using concrete anchors or screws, depending on what the subfloor is made of.
  3. Brace the frame using 2-by-4s or a door jack system designed to support a steel frame. This bracing is used to hold the frame in place as masonry is installed on either side. Add spreader bars to support the jambs until the door can be installed.
  4. Use wire anchors to hold the frame in place. These anchors are welded into the steel frame at each hinge location. As masonry is erected, the wire anchors are embedded into the mortar between the rows of block. Once masonry work is complete, the spreader bars and bracing can be removed from the frame.

Installing the Steel Door

  1. Size your steel door correctly. Your door should be 1/8 inch smaller than the frame in width, and 3/8 to 3/4 of an inch shorter than the frame depending on the height of the threshold or flooring.
  2. Consider hardware preps. Steel doors and frames are pre-cut at the factory to prepare them for hinges and locks. The hinge and lock preps should match the locations on the frame, but will be 1/8 inch higher on the door than on the frame. For example, if the top of the uppermost hinge on your frame is 6 inches from the top of the frame, this same hinge will be 5-7/8 inches from the top of the door. This allows a 1/8 inch clearance at the top of the door so it will not bind with the frame.
  3. Install the door. Screw the hinges to the door, then have a partner hold the door in place while your fasten it to the frame. Add shims behind the hinges as needed to level it out and help the door swing properly in the opening.
  4. Install your chosen lockset according to the manufacturer’s installation instructions. Fasten the strike to the frame using the screws included with the lock. Test the door’s operation to ensure all components are functioning as intended.

Pharmaceutical Industry Growth

The pharmaceutical industry has been a powerful and dynamic industry in the past 10 years, growing even when other industries (like tech stocks) have taken sharp downturns. However, due to the financial crisis of 2008 and subsequent economic recession, economists predict that pharmaceutical industry growth will slow in the coming years, despite strong past performances.

History

  • Most modern drug companies were formed in the early 20th centuries; the discoveries of insulin and penicillin lead to a developing industry for manufacture and distribution. Pharmaceutical companies continued to grow and evolve through the 1950s and 1960s, with the development and production of drugs like cortisone, heart medications, chlorpromazine, valium and “the Pill.”

    By the 1980s, India had become the primary producer of drugs without patent protection (generics), and pharmaceuticals had moved into drugs for cancer and AIDS. Since the 1990s, the industry has adapted to a changing role by using direct-to-consumer advertising and with the production of SSRIs like Prozac (fluoxetine).

Pharmaceutical Expansion, 1990-2008

  • Thanks to the revenues from only several blockbuster drugs (defined as a drug that earns more than $1 billion a year), which accounts for roughly one third of market value for pharmaceuticals, the pharmaceutical industry expanded during the 1990s and into the 2000s.

    These best-selling drugs continue to earn a high percentage of total revenue for big pharma. The leading blockbuster drug, Lipitor by Pfizer, brought in more han $12.2 billion in 2007. Plavix by Bristol-Myers Squibb and Sanofi-Aventis; Celebrex by Pfizer; Prilosec and Nexium by AstraZeneca; and Lovenox by Sanofi-Aventis, earned an additional $17 billion combined for their respective companies.

Industry Considerations

  • Big pharma is a game of innovation, research and development and the race to find the next best-selling drug. Since blockbuster drug sales dominate revenues for many firms, pharmaceutical firms must engage in expensive research to try to find new drugs. Since most chemical compounds ultimately do not go on to become blockbusters, finding the next big drug is a costly process. To offset the large up-front costs to pharmaceutical companies, once firms develop a drug that gains FDA approval, the patents on that drug allow the pharmaceutical firm to recover the costs of research and development.

Future of the Industry

  • The future of the industry looks guarded. There will be a reduced but still positive growth. IMS Health, a healthcare market research firm, issued a report in April 2009 cutting back the growth forecasts for pharmaceutical sales from 4.5 to 5.5 percent to only 2.5 to 3.5 percent in total sales, down from a prediction of $820 billion to $750 billion). This is largely in response to the economic downturn beginning in 2008, suggests a senior executive at IMS, and the “correlation between demand for medicines and … key economic variables.”

Theories/Speculation

  • Several blockbuster drugs are due to expire in the next few years, such as Pfizer’s Lipitor in 2011 and AstraZeneca’s Nexium in 2014, possibly endangering the revenues of the pharmaceutical industry for the next three to five years. IMS predicts that the growth rate for pharmaceutical firms will hover around 3 to 6 percent moving into 2010 to 2012, down from the average rate of about 7 perecent from 2004 to 2007, as a result.

    Predictions also suggest that demand for medications might fall in the developed world (especially the United States, by perhaps 1 percent), further reducing revenues for big pharma, although some of this decline will be offset from rising purchases in the developing world, especially Russia, South Korea, Mexico and China.

How to Find Information for an Industry Analysis

With so much information online, you would think finding information for an industry analysis would be easy. This is not always so. Information costs money, and marketing and research firms spend a lot of time and energy compiling data about every niche you can think of. Finding information for an industry analysis often means paying these companies for their reports or access to their large database of information. However, along with paying for reports, there are still some free things you can do to find quality information for an industry analysis.

Instructions

  1. Identify the industry. Determine the code that corresponds to your industry by going to the North American Industry Classification System (NAICS) website under “Resources.” For example, if you are looking for information about corn farmers, the NAICS code would fall under the “Agriculture, fishing, forestry and hunting” section, and the code specific to corn farmers would be 111150.
  2. Get an overview of the industry. Look up trade associations online for your industry or find the “Encyclopedia of American Industries” in your local library. Your local library should also have other resources such as “Standard and Poor’s Industry Surveys” or the “US Industry and Trade Outlook.” These sources should help you determine the size of the industry in dollars, the history, leading companies, government regulations related to the industry and whether the industry is seasonal.
  3. Determine industry trends. Look up websites related to your industry on compete.com and compare their online traffic data. This will give you a general sense of which companies are leading the industry and what kinds of growth patterns they might experience in the future. Use a search-based keyword tool such as Google’s keyword tool to see how many people are searching for words related to your industry.
  4. Look up consumer data. Go to the Bureau of the Census website to find industry data related to consumers in different geographical regions in the United States. Include demographics such as age, income, sex, race, ethnicity and family status for your industry. For psycho-graphic information such as buying habits, taste and lifestyle patterns, go to Nielsen’s Clarita site under “Resources.”
  5. Identify the competition. You can look up information about all publicly traded companies by checking with the Securities and Exchange Commission website. Looking at the search results for the products in your industry will tell you who the online competition is. Any company that fulfills the needs of the consumers of your industry is a competitor.

Steel Mill Job Description

Steel mill jobs include a range of positions directly associated with the manufacturing of steel. These jobs vary widely in terms of responsibilities and skill sets required.

Job Titles

  • Steel mills employ workers with a variety of skill sets. These jobs can include managers, engineers, sales representatives, administrative support personnel, maintenance workers and a range of specialized laborers such as welders, machine setters, electricians and equipment operators.

Responsibilities

  • Responsibilities of steel mill workers depend on the position and vary widely. Management, sales, administrative staff and some engineering staff handle the financial, strategic and more general operational aspects of the steel mill. Machinists, electricians and other factory workers handle most directly the processing, testing and delivery of the steel product.

Requirements

  • Requirements for steel mill jobs vary widely based on organization, department and type of job. Management, engineering, administrative and other skilled positions require the education and training standard to those fields, and preference is given to candidates with experience in heavy industry. Some jobs may require little or no prior industry experience.

Job Prospects

  • Because of foreign competition and productivity improvements, employment in the steel manufacturing industry is expected to decrease 13 percent from 2008 to 2018.

Compensation

  • Compensation for steel mill jobs varies widely based on company, location, experience and type of job. According to the Bureau of Labor Statistics, the average 2008 hourly wage for production supervisors was $28.32, while the average for machine setters, operators and tenders was $15.97.

How to Write an Industry Analysis

An industry analysis is a component of the business plan that provides statistics about the market potential of your business, product and services. This section contains specific information about the current state of the industry and target market and might contain reference materials such as spreadsheets, pie charts and bar graphs to represent the data.

Instructions

  1. Begin with an overview of the industry. Provide statistics and historical data about the nature of the industry and growth potential for your business based on economic factors and conditions. This section should not be longer than eight lines.
  2. List the major competitors in your industry with a brief summary of their operations and similar products or services. This section can be broken down into sections, with three to four lines per business.
  3. Summarize the nature of the industry. Include specific information and statistics about growth patterns, fluctuations related to the economy and income projections made about the industry.
  4. Provide a forecast for your industry. Compile economist data and industry predictions for the next five, 10 and 20 years. This may include graphs of statistical data to better convey the message.
  5. Identify government regulations that affect the industry. Include any recent laws pertaining to your industry and any licenses or authorization you would need to conduct business in your target market. This section may include information about fees and costs involved.
  6. Explain your company’s position within the industry. Include information from your Competitive Analysis and Unique Selling Proposition as well as data for direct and indirect competition. This section can be as long as one-quarter page and may be supported by graphs, charts and tables.
  7. List potential stumbling blocks. Write a brief paragraph about factors that might negatively impact your business and what you foresee in the short-term and long-term future.

Fabricator Job Description

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All mechanical objects are a sum of multiple parts. Automobiles, television sets and even toys are manufactured in factories where individuals build these finished products by combining a variety of different components. Parts may be assembled manually or with the use of specialized machinery, and this work is carried out by fabricators.

Job Duties

  • Prior to assembling any piece of equipment, fabricators must read and fully comprehend assembly instructions, such as blueprints and sketches. They must then go over the list of parts to be assembled, ensuring that each is accounted for. Based on specifications, fabricators assemble the equipment, taking measurements, repositioning parts and making sure each part is properly fitted and secured. In addition to assembling the equipment, fabricators identify any errors or malfunctions. When such inefficiencies are identified, fabricators make repairs and troubleshoot to the best of their ability. This may require the use of additional tools as well as ordering replacement parts and other supplies.

Training Requirements

  • A high school diploma or its equivalent is typically the minimum education required to obtain employment as a fabricator. Although most fabricators learn the ropes while on the job, some companies sponsor training programs for those new to the profession. Some larger organizations, such as aircraft manufacturers and consumer product companies, require applications to possess an associate’s degree in order to be considered for employment.

Must-Have Skills

  • Although novice fabricators acquire many of their skills by jumping into the profession, certain attributes are prerequisites in order to be successful in the role. Fabricators must possess physical strength and have a lot of stamina, as lifting heavy objects and standing for long periods of time are the norm on the job. These workers also must possess exceptional hand-eye coordination to precisely manipulate small objects. In addition, many of the objects fabricators work with are often color coded, precluding colorblind candidates from the occupation.

Professional Association

  • Fabricators seeking career development and networking opportunities may find a professional haven with the Fabricators & Manufacturers Association International. Founded in 1970, the organization, according to its mission, aims to bring its members “together through technology councils, educational programs” and networking events. MFA also produces FABTECH, the largest conference dedicated to the industry, and publishes various publications geared toward specific sectors within the fabricating and manufacturing industries.

Job Outlook and Salary

  • According to the U.S. Bureau of Labor Statistics, employment of fabricators is expected to grow at a rate of only 4 percent between 2012 and 2022, a slower pace than other professions, as a result of increasing manufacturing process efficiencies that require fewer workers. The average salary paid to those in this profession in 2012 was $28,580.

Corporate Finance Analyst Job Description

A corporate finance analyst, or associate, uses business acumen and investment knowledge to review a firm's financial statements and recommend investment strategies to senior leadership. A corporate finance associate also reviews a company's liquidity (cash) levels and aids a company in selling shares of bonds and equity on securities exchanges.
A corporate finance analyst helps a firm make investment decisions.

Responsibilities

  • A corporate financial analyst evaluates a firm's operating data, compares current versus historical information and provides investment selection strategies to senior management. He also may detect liquidity trends by appraising a company's “working capital” ratio. This ratio measures a corporation's short-term cash availability and equals current assets minus current liabilities. A corporate finance associate also partners with investment bankers to help a firm raise cash on securities exchanges.

Education and Training

  • Jobs in the corporate finance field typically require a business or finance background and a bachelor's degree at a minimum. A corporate finance analyst who has supervisory responsibilities or works for a large, multinational company may hold a master's of business administration (MBA) in finance or investment analysis. A corporate finance professional with prior public accounting experience may have a certified public accountant (CPA) license.

Salary

  • A corporate finance analyst who holds an advanced degree, such as a master's or doctorate, in economics or investment analysis earns more than a colleague with a bachelor's degree. The company's size, industry and location also affect compensation levels. A corporate finance analyst's pay package may include wages as well as cash or stock bonuses. The U.S. Bureau of Labor Statistics indicates that median annual wages for corporate financial analysts were $73,150 in 2008, excluding cash and stock bonuses, with the lowest 10 percent of the occupation earning less than $43,440 and the highest 10 percent earning more than $141,070. The same research shows that median annual wages for corporate financial managers were $99,330 in 2008, excluding cash and stock bonuses, with the middle 50 percent of the profession earning from $72,030 to $135,070.

Career Development

  • A corporate finance associate's chances of promotion depend on staffing needs and economic trends. However, she can improve her career growth opportunities by seeking a master's degree in investment analysis or a chartered financial analyst (CFA) certification. A corporate finance analyst who performs adequately may be promoted to a senior role, such as corporate finance manager, senior investment strategist or financial accounting supervisor, after three to five years.

Working Conditions

  • A corporate finance analyst works a standard 8.30 a.m. to 5.30 p.m. shift. If business conditions require a longer presence at the office, he may work late nights or early mornings. He also may telecommute and perform his tasks remotely from home on weekends. A senior corporate finance analyst travels periodically to meet domestic or international clients.

 

Facts About the Automobile Industry

The automotive industry worldwide produced about 806 million cars that remain on the road today, with more than 250 million of those vehicles operating in the United States. But the industry plunged into a steep financial decline in the first decade of the twenty-first century, which was exacerbated with the collapse of American financial institutions beginning in 2008. Most automakers posted losses in 2008-09, with the United States government providing multi-billion-dollar bailouts to General Motors and Chrysler LLC.

The automotive industry worldwide produced about 806 million cars that remain on the road today, with more than 250 million of those vehicles operating in the United States. But the industry plunged into a steep financial decline in the first decade of the twenty-first century, which was exacerbated with the collapse of American financial institutions beginning in 2008. Most automakers posted losses in 2008-09, with the United States government providing multi-billion-dollar bailouts to General Motors and Chrysler LLC.