Internationalization Theories Essay Example | Topics and Well Written Essays - 3000 words

Internationalization Theories - Essay Example Due to the generality of the OLI, the theory has been limited to the task of explaining particular types of foreign behaviors or production of specific enterprises, unless there is an application of the framework to a specific predefined context. As opposed to other theories, OLI is specific to particular contexts of application, especially in its configuration that is likely to differ in different regions, firms, countries, industries, or in the value-added practices. On the other hand, the OLI application is most likely to rely on Foreign Direct Investment (FDI) motivators (Demos, Fragkiskos and Marina, 2004). The primary assumption of the OLI is that the FDI returns, and thus the entirety of FDI, may be explained using three factors. They include: the firm’s ownership advantage ‘O’, which indicates who produces abroad, as well as other types of international activities; internationalization advantage ‘I’; and the location advantage (L), which gives reasons for   firms   to take part in FDI as opposed to licensing the foreign companies to make use of their proprietary assets (Adner and Kapoor, 2010).For the firm to effectively compete within a foreign location, it must have particular ownership advantages, which are also referred to as monopolistic or competitive advantages, which compensate for the extra costs incurred during the setting up of its operations in the foreign country, which are not faced by the producers from within the country (Desbordes, 2007).

Giving economic circumstances over the last five years of how Tesco, Essay

Giving economic circumstances over the last five years of how Tesco, Sainsbury and Morrisons have coped - Essay Example 1, the economy is contracting. The situation affects retailers because of the low purchasing power of consumers. BBC said that the rise in sales will be slower than expected, with a rise predicted at only 1%. Analysts blamed rising prices are the cause of the slow growth of retail sales. Economic outlook of UK for 2013 as raised by the Confederation of British Industry will stagnate and the Bank of England will refrain from a stimulus expanding. Their forecast is that the recession economy will stay until 2014. Purpose of the study is to analyze steps taken by the giant superstores to cushion the effect of recession, and strategies they plan to stay in competition. Since recession is not over yet, the study will benefit smaller retail stores in designing strategies that will reduce impact of recession in its operations. 4. Methodology . This study will make an analysis of performance of the three retail giants in UK during recession period using comparative analysis of its financial performance as an indicator. Review of its annual reports will show strategies implemented to survive the economic recession challenge. Government policies to stimulate economy will also be inspected TESCO is one of the world’s largest retailers with operations in 14 countries, employing over 500,000 and serving tens of millions of customers every week. Diversified businesses: retailing of books, clothing, electronics, furniture, petrol and software, financial services, telecoms and internet services, DVD rentals and downloads. It has repositioned itself from a cheap retailer to finest ranges of higher quality merchandise. SAINSBURY was founded in 1869 and operates over 1000 stores including 440 convenience stores. It operates joint ventures with Land Securities Group plc and the British Land Company PLC. It has on-line ordering system and a roll-out delivery system. Sainsbury Finance provides credit cards, insurances, and savings and loans, and an

Health Oganization Case study Essay Example | Topics and Well Written Essays - 1000 words - 1

Health Oganization Case study - Essay Example United Healthcare is committed to providing quality care and to its continuous improvement. In the last five years, UnitedHealth Group has invested approximately $3 billion dollars in research and development (R & D), technology and business processes enhancement (UnitedHealthcare, 2014). With this huge investment, the Group is confident it is going to be able to serve its customers satisfactorily over the next decade and beyond. The organization recognizes that the healthcare needs of Americans are changing fast and becoming more complex. The complexity partly stems from the emergence and spread of lifestyle diseases such as diabetes. Over the years, the average American has continued to grow more affluence. Unfortunately, with affluence comes risky lifestyles like eating a lot of junk food and overreliance on the automobile such that a person rarely gets to exercise by walking or cycling to work. The above stated investments, coupled with the Group’s strategic plan, put UHG in a solid position to satisfy the medical needs of Americans. Key elements of the strategic plan include network growth, staffing, resource management and customer satisfaction. We now take a more elaboratelook at each of these. As of June 2011, United Health Group (UHG) had partnered with 650,000 doctors and other healthcare providers, over 5,000 hospitals, some 80,000 dentists and 65,000 pharmacies across the United States (Hilton , 2011). UHG’s network strategy is to expand this network in coming years. The strategy is informed that it is cheaper to partner with existing organizations and professionals as opposed to establishing new ones from scratch and hiring and retaining health workers. In addition, the network strategy affords UHG to reach more Americans that it could single-handedly. In fact, the Group attributes its ability to serve some 70 million Americans annually to its network of partners. In order to attract

Illustrations of the text Essay Example for Free

Illustrations of the text Essay An impressive opening, a marvellous ending, an indifferent middle. Does this twentieth century comment represent to you a fair summary of Dr. Faustus? Support your views by detailed illustrations of the text. The narrative patterns of Dr. Faustus can be said to take on a loose, three-part structure, in which the first part involves the serious business of Faustus conjuring the devil, the middle involves trivial entertainment and the final section, in which the play reaches an intense poetic conclusion. It is arguable that compared to the high drama and passion evident at the beginning and end, the middle of the play has little to offer. However, despite the fact that in Faustus, Marlowe intended to portray the tragic downfall of a great man, he also included the apparently frivolous middle scenes for a specific purpose. The play opens with Faustus alone in his study, contemplating the direction in which he should take his future studies. This first speech is energetic and his words are those of a young man. As Faustus continues to reveal his dissatisfaction with the limits of human knowledge, rejecting each of the various scholarly disciplines available to him, the audience begin to become suspicious of his intentions. When Faustus proclaims that a greater subject fitteth [his] wit, and that the next step in his education must be necromancy, our worst fears are confirmed. It is important to note that whilst the modern audience may be only slightly shocked by this revelation, to Marlowes contemporaries it would have been horrifying in the extreme. In Elizabethan times, religion permeated all aspects of life, and the majority of people were devout Christians; such and explicit display of blasphemy would have been unheard of! The dramatic tension increases as the scene progresses, and Faustus arrogant proposal to try [his] brains to gain a deity confirms our opinion of him as a dangerous over-reacher. The entrance of the good and evil angels signals an opportunity for theatrical spectacle, which again helps maintain the tension of this impressive, dramatic opening scene. Faustus is seemingly unaware of these two characters (which perhaps suggests that they are rather states of mind than physical beings) but continues to rhapsodise on the varied ways he will use his power. Marlowe uses poetic language, and Faustus speech is more like a love song than a soliloquy: Ill have them ransack the ocean for orient pearl and search all corners of the new found world for pleasant fruits and princely delicacies. At this point, we are disturbed by Faustus behaviour; it is as though he is making extravagant promises to a beloved rather than seeking these things for himself. Faustus is eager to confer with his fellow scholars Valdes and Cornelius, who can be seen to represent the traditional tempters from earlier morality plays. Valdes astonishes the audience even further by promising that their satanic powers will canonise them. This implied holiness could not be further from the truth of their intentions. The first scene ends with Faustus feverishly impatient to conjure that very night. His last four words are dramatic and fearsome in the recklessness: this night Ill conjure, therefore I die. The contemporary audience, who would have believed in the immortal soul, would have been aware of the terrifying fact that if he were to die in the process of conjuring, he would spend an eternity in hell. Soon after, we meet Faustus again. The scene is pitch black and he has prepared a circle in which to conjure, and some kind of sacrifice. Marlowe uses atmospheric language such as the gloomy shadow of the earth and her pitchy breath, to evoke the tension and drama. This would have been particularly important for the Elizabethan audience who had to rely on their imaginations during the performance, rather than special effects. Faustus invocation is in Latin, which sounds powerful and sonorous. He uses a frightening mixture of the orthodox and the demonic, for example sprinkling the holy water whilst conjuring. All this convinces us that he is engaged in an extremely perilous undertaking. Some time later, once Faustus has conjured Mephastophilis, he must sign a contract which states that Satan can have his soul in exchange for 24 good years. From this point onwards tension mounts and actions follow in rapid succession until the end of the scene. Faustus must sign in blood, yet when he tries to do so it congeals, forcing Mephastophilis to go and fetch a chafer of hot coal to melt it again. This episode contributed greatly to the dramatic tension of the scene. The congealing of the blood is part literal, but part metaphorical in the sense that it is Faustus own body recoiling from the deed he is about to commit. The simple bringing of the coals in the smoking dish is also quite dramatic. The sight and smell of the flames remind the audience (and should remind Faustus) of the fact that the contract will result in his damnation in hell. The episode ends with Faustus proclamation consummatum est once he has signed. This startling blasphemy echoes Christs final words on the cross and Faustus is ironically identified with him. It is arguable that the impressive opening of the play and the dramatic scenes which follow soon after are balanced and complimented by its equally intense ending. Faustus encounters the old man when his 24 years are almost over, which signals that there is hope for his salvation, even at this late stage. It is important that the audience can still relate to Faustus and fell that he is able to make conscious decisions about his fate, all be they the wrong ones. Whilst we continue to be thus engaged with Faustus, every move he makes in this scene creates high tension and greatly enhances the dramatic quality. About half way through the scene, we witness Mephastophilis providing a desperate Faustus with a dagger to kill himself (suicide being an offence to heaven and an appropriate means of getting to hell). Although the old man talks him out of it, the audience is still wracked with suspense, particularly whilst witnessing Faustus ponder feverishly as hell strives with grace for conquest in [his] breast. However, Faustus soon reverts to his former, cowardly self when Mephastophilis threatens to tear his flesh. He instructs sweet Mephastophilis to punish the old man instead, ignoring his conviction that my faith, vile hell, shall triumph over thee. Following this episode, Faustus asks for Helen of Troy as his paramour, and speaks to her, where he advised the scholars strictly not to. We feel that Faustus must realise he has made a fatal choice -he knows that the image he sees before him is a spirit- and watch in compelling revulsion as he kisses the devil. The speech he makes is a rhapsodic love poem, which is stunning when we consider the harsh theatrical contrast between Faustus words (e. g. O, thou art fairer than the evening air clad in the beauty of a thousand stars) and the sight of the old mans flesh being torn to pieces on stage. Even more horrifying is the way in which the brilliant scholar uses the language of love poetry to damn himself, and yet the lyrical beauty of the verse remains. When he says her lips suck forth my soul, Faustus is not only using a rapturous metaphor: it is actually happening! By now, the tragedy is inevitable; Faustus has rejected all hope of salvation, and the audience wait for his impending doom with trepidation. The final scene, in which we witness Faustus death is both memorable and moving. His solitude at the end of the play compliments his solitude at the beginning, and the fact that he struggles alone maintains the dramatic tension right up until he is taken to hell. Marlowe purposefully ends the play with Faustus soliloquy, to vocalise his inner thought and emotional condition. His terror, frantic hopes and despair are all enhanced by the soliloquy, which gains dramatic power by its graphic, physical nature. In his fervour, Faustus actually tries to leap up to [his] God, but fails to do so because some infernal force pulls him down. It is a very tragic scene, particularly as Faustus in his desperation tries to conjure and command the earth to gape open but realises that o no, it will not harbour me. There is a poignant contrast between the disillusioned scholar we see here and the successful conjurer of the previous scenes. When the clock strikes to signal his final half hour, Faustus bargains frantically with God to let him live for a hundred, or even a thousand years in hell but still be saved. Upon the arrival of the devils he is seized by fear and panic, willing his soul to be changed into little water drops and imploring God to look not so fierce in him. His final desperate plea Ill burn my books is deeply moving considering the futile nature of the gesture. Whilst the tension of the final scenes is obvious, without some of the light-hearted episodes which precede it, much of the dramatic quality would be lost. For this reason, Marlowe includes a number of comic scenes to relieve some of the suspense during the middle section of the play. As well as providing entertainment and an opportunity for spectacle (for example, the slapstick comedy of the Pope scene, and the grotesque rhetoric of the seven deadly sins) these scenes also have several important points to make. A good example of this happens fairly early on in the play, where Wagner procures one of Faustus books and persuades the flea-ridden clown to become his servant. Marlowe is making the point that whilst these two characters may be banal and frivolous, they are just as capable of conjuring as Faustus! Wagner apparently has just as much success without selling his soul for the privilege. They also draw our attention to the contract which Faustus is about to make. When Wagner says that the clown would give his soul to the devil for a shoulder of mutton, though it were blood raw, we note that Faustus proposed contract amounts to something of similar value (i. e. it will gain him nothing). In this scene, conjuring is de-based so that even the illiterate clown is taught how to use black magic. This contrast with Faustus great learning demonstrates how little intellect really is needed for such pursuits. We soon witness a scene between another two comic characters, Robin the ostler, and his companion, Rafe. Robin has stolen one of Faustus books and wishes to use it to gain sexual experience. Whilst this amuses the audience, we are also reminded to reflect on the unfolding tragedy. Whilst the ostlers may be venturing in too deep, they are innocents and their desires amount to little more than a few silly capers. When we compare this to Faustus feverish necessity to push the boundaries of human knowledge we become aware of just how dangerous the situation is. As Faustus begins to age, he too appears to become aware of the consequences of his actions. The amusing trick he plays on the horse-courser in scene ten plunges him into a despondant mood, forcing him to reflect upon his fate. He is now using his powers on even lower forms of entertainment than he did by making a mockery of the Pope in scene seven. He realises that he has done nothing special and is yet but a man, which is enforced by the horse-coursers callous assumption that he is a horse doctor. In Elizabethan times, such a profession would not have been highly respected, and Faustus is outraged that this is how he is being perceived. In conclusion, I would say that although the main dramatic events of the play occur either at the beginning or at the end, the middle scenes also have value and interest. Whilst Marlowes main intention for the comic scenes was to provide amusement for the audience and some respite from the tension of the main plot, they also contribute significantly to some of the main themes of the play by comparing Faustus behaviour to that of his contemporaries, and thus drawing our attention to the gravity of his actions.

Application Software :: essays research papers fc

Application Software   Ã‚  Ã‚  Ã‚  Ã‚  Computer systems contain both hard and software. Hardware is any tangible item in a computer system, like the system unit, keyboard, or printer. Software, or a computer program, is the set of instruction that direct the computer to perform a task. Software falls into one of two categories: system software and application software. System software controls the operation of the computer hardware; whereas, application software enables a user to perform tasks. Three major types of application software on the market today for personal computers are word processors, electronic spreadsheets, and database management systems (Little and Benson 10-42). A word processing program allows a user to efficiently and economically create professional looking documents such as memoranda, letters, reports, and resumes. With a word processor, one can easily revise a document. To improve the accuracy of one's writing, word processors can check the spelling and the grammar in a document. They also provide a thesaurus to enable a user to add variety and precision to his or her writing. Many word processing programs also provide desktop publishing features to create brochures, advertisements, and newsletters.   Ã‚  Ã‚  Ã‚  Ã‚  An electronic spreadsheet enables a user to organize data in a fashion similar to a paper spreadsheet. The difference is the user does not have to perform calculations manually; electronic spreadsheets can be instructed to perform any computation desired. The contents of an electronic spreadsheet can be easily modified by the user. Once the data is modified, all calculations in the spreadsheet are recomputed automatically. Many electronic spreadsheet packages also enable a user to graph the data in his or her spreadsheet (Wakefield 98-110).   Ã‚  Ã‚  Ã‚  Ã‚  A database management system (DBMS) is a software program that allows a user to efficiently store a large amount of data in a centralized location. Data is one of the most valuable resources to any organization. For this reason, user desire data be organized and readily accessible in a variety of formats. With aDBMS, a user can then easily store data, retrieve data, modify data, analyze data, and create a variety of reports from the data(Aldrin 25-37). Many organizations today have all three of these types of application

Republic of Slovakia an economic overview

Ukraine, in the north by Poland and the Czech Republic, in the south by Hungary and in the west by Austria. Slovakia has the reform the advantage of a strategic position between the border of the EX. and the former Soviet Union source: SARIS (2012) According to Trading Economics (2014)9, the main trade partners of Slovakia are Euro members, Germany, Czech Republic, France, Poland, Russia and Hungary. However, even as member of European Union, Slovakia remain very interested in active relations with Eastern neigh boors.Indeed, according to a research led by Alexander Du Elba (2009)10, Slovakia s favorable to an active partnership with the Eastern countries, especially Russ Asia. Indeed, in the text, we learn that â€Å"excepted for Russia and Ukraine, all other Eastern neighbors s 0 far do not play an important role in Slovakia foreign policies and/or are not yet being considered by Slovakia political establishment as weighty actors in terms of their relevancy for the projection of n ational interests of Slovakia within the post-Soviet Eastern Europe†.This is particularly relevant for Ukraine, since â€Å"Ukrainian approach to the EX. that might result in the signing of the Association Agreement, including a deep and comprehensive free-trade agreement, is expected to boost the economic development of Eastern Slovakia and contribute to the lowering of regional did asperities in Slovakia†. More about those regional disparities will be said further in this chapter. Mr.. Dulled concludes by saying that the extension of the EX. zone to the East I s a great opportunity for Slovakia, which may become a turntable between the East and the West Of EX..Indeed, â€Å"The 9 TRADING ECONOMICS, in http://BMW. Tragicomedies. Com/Slovakia/ balance-of-trade consulted 04. 25. 2014 DULLED A. (2009), Slovakian policy towards Russia and Eastern neighbors, 10 priority of Slovakia diplomacy should be the promotion of the membership of I TTS eastern partners in WTFO which is the precondition for further liberalizing of foreign trade with t he EX.†. Regional economic disparities As we will see, automotive occupies an important place among the country's strategic industries beside representing 17% of total GAP.Currently are operating the Volkswagen plants in Deviants Novas Eves (northern Brasilia), in Martin (major city, south-east of Salina), an in Choices ; the AS Peugeot-Citroen plant in Tirana (50 km from Brasilia) and the Aka plant in Salina (Slovakia Northwest). Source: Rheostat On one hand, we have the wealthiest regions (darker blue): the regions of Brasilia and Tirana concentrate the biggest car manufactures in the country and they border Austria and the Czech Republic, two countries that also produce lots of cars or car parts, thus create Eng a synergy with the western and north-western regions of Slovakia.Surprisingly enough, the region n of Salina is not much wealthier than the southern ones, although it hosts two car manufactures: on big in Salina (Aka), and one smaller in Martin (Volkswagen). On the other hand, there is Proves that shares borders with Ukraine and Poll ND, two countries that still are a little behind compared to Slovakia. Plus it mainly hosts agricultural a activities and, in a lesser extent, food-processing and textile industries 1. Those types of industries do not usually greatly encourage development.However, we should look at these figures differently: it's not almost all region s that are behind; it's Brasilia that's far ahead. Indeed, Brasilia always received the greatest part of foreign direct investments, then name Salina and the third position is more or less a tie between Tirana and 11 SARIS, The proves Region (201 2, PA) Trending. But, as we can observe hereunder, the share of FED that the other regions race vied still is negligible: they rarely received more than 15%.One of the reason behind that is that the Brasilia region concentrates Salvo ski's most populated municipalities. Ind eed, only 0. 76% of all the municipalities (there are 3 334 in t total) have more than 10 000 inhabitants 2. It is thus understandable that industries' development I not homogeneous and is concentrated around main cities. Undersecretaries The main natural resources of Slovakia are brown coal and lignite with small q annuities of iron ore, copper and manganese ore as well.

Basics Of Pharmaceuticals

Aside from the requisites of drug manufacturing, a drug company must also have the knowledge on the legal aspect of the pharmaceutical business. A company must be able to know what agencies of the government he has to seek advice from before it undergoes the manufacturing process in order to have a good start.Relative to this, the company needs to know which regulates the safety and efficacy of the drugs to be manufactured and which agency protects the rights of the manufacturer and the consumers against illicit drugs.This paper will discuss the basic responsibilities of the Food and Drug Administration and the Drug Enforcement Agency including the approval process of manufacturing a generic drug copy. FOOD AND DRUG ADMINISTRATION AND ITS RESPONSIBILITIES The Food and Drug Administration (FDA) is generally responsible for ensuring the safety and efficacy of all drugs for human and veterinary use.FDA’s 1mission statement specifically states that the administration â€Å"is res ponsible for protecting the public health by assuring the safety, efficacy, and security of human and veterinary drugs, biological products, medical devices, our nation’s food supply, cosmetics, and products that emit radiation. † This will then give us the idea why FDA need to regulate drugs, and that is to ensure that they are safe and effective. The administration is also held responsible for ensuring that the drugs have information that is honest and accurate for the general public to use.The Drug Enforcement Agency (DEA) (Drug Enforcement Administration for the United States) is primarily responsible for the enforcement of the Controlled Substances Laws and Regulations. In the United States, DEA is under the wing of the Department of Justice, where it serves as an arm of the justice against the 2those organizations and principal members of organizations, involved in the growing, manufacture, or distribution of controlled substances appearing in or destined for illi cit traffic in the United States. The DEA’s drugs of concern include: Cocaine, marijuana, heroin, inhalants, LSD, Ecstasy, Steroids, Oxycontin and Methamphetamine.The following list of specific responsibilities is adopted by this writer from the DEA’s official website: >Investigation and preparation for the prosecution of major violators of controlled substance laws operating at interstate and international levels. >Investigation and preparation for prosecution of criminals and drug gangs who perpetrate violence in our communities and terrorize citizens through fear and intimidation. >Management of a national drug intelligence program in cooperation with federal, state, local, and foreign officials to collect, analyze, and disseminate strategic and operational drug intelligence information.>Seizure and forfeiture of assets derived from, traceable to, or intended to be used for illicit drug trafficking. >Enforcement of the provisions of the Controlled Substances Act as they pertain to the manufacture, distribution, and dispensing of legally produced controlled substances. >Coordination and cooperation with federal, state and local law enforcement officials on mutual drug enforcement efforts and enhancement of such efforts through exploitation of potential interstate and international investigations beyond local or limited federal jurisdictions and resources.>Coordination and cooperation with federal, state, and local agencies, and with foreign governments, in programs designed to reduce the availability of illicit abuse-type drugs on the United States market through nonenforcement methods such as crop eradication, crop substitution, and training of foreign officials. >Responsibility, under the policy guidance of the Secretary of State and U. S. Ambassadors, for all programs associated with drug law enforcement counterparts in foreign countries.>Liaison with the United Nations, Interpol, and other organizations on matters relating to international drug control programs. DEA’S PROGRAMS AND OPERATIONS Drug Enforcement Agency also updates its programs and operations according to the demand of technology and the development of new methods of illicit drug operations. Recent report published in the KT4 Online alerted the public on the emergence of illegal websites that are bringing prescription drugs out into the market (KT4 Online, August 24, 2007).The DEA reported that such websites are able to market their products using just credit cards as payment modes. The agency now referred the so-called â€Å"rogue pharmacies† to the congress for the legislation of a more formidable law for such illegal and dangerous activities, which are regulated because such companies do not meet the standards set by the United States. Even medicinal or herbal plants that are not yet studied or regulated under the law is also under the responsibility of the DEA to study and made research relative to its danger in the human health.In Utah, a native plant called salvia divinorium, has been put into attention by the Hill Air Force Base which according to initial findings can cause hallucinations. In the report published in the Salt Lake Tribune, â€Å"magic mint† as its street name, is ingested or inhaled usually by the members of the military and the people inside the base (Salt Lake Tribune, August 20, 2007). The herbal plant is still legal as it is still under research by the DEA. Experts also say that the plant that grows in the wilds of Utah can cause lung irritation when its dried leaves are inhaled.LAWS AND POLICIES GOVERNING GENERIC DRUGS The regulations pertaining to generics drugs are under the responsibility of the Food and Drug Administration. Under the law, pharmaceutical companies or drug manufacturers have all the right to apply for a generic copy of their branded drugs. It can also be that a manufacturer seeks for a license from the brand name company to make a generic copy of the branded product . A generic copy of the drug is called â€Å"authorized generics† because the branded product manufacturer had given the authority to the manufacturer of the generic drug copy.However, these generic copied have to undergo the legal process that is regulated by the FDA. It is the Drug Price Competition and Patent Term Restoration Act of 1984, commonly referred to as the Waxman-Hatch Act, which is being used as a legal basis for FDA for regulating generic drug copies. â€Å"Since the law was enacted over 23 years ago, the number of generic manufacturers and number of generic drug products on the market have expanded exponentially† (Coster, John M. 2007). The law allows a generic drug that is a generic copy of the pioneer drug to be approved by FDA to be marketed by the same company.This is even without the submission of the usual New Drug Application (NDA) that is submitted in full when a branded product is being applied for marketing. The NDA is usually a time-consuming and expensive clinical trials required to be done by the drug manufacturer in order to comply with the safety and efficacy standards required of them. With the Waxman-Hatch Act, NDA is being replaced with the submission of Abbreviated New Drug Application (ANDA) provided that the generic copy has demonstrated the fact that it is bioequivalent to the pioneer drug (J.Coster, The Pharmacist, Vol. 32, No. 6, 2007). This process allows the generic copy to be approved for marketing the easier and faster way because it does not to prove its safety and effectiveness through trials since the pioneer drug had already proven such. For the ANDA of the generic drug to be approved, its pioneer drug must have the four required certifications: (1) that no patent is listed for the pioneer drug; (2) that the patent has expired; (3) the date on which the patent will expire; or (4) that the patent is invalid or not infringed.Such information is listed in the FDA’s Orange Book, a reference for t he pharmacists in determining the interchangeability of the drugs. Just recently, the Waxman-Hatch Act has been replaced with 3McCain-Schumer Act, after its authors Senators John McCain and Charles E. Schumer. The main feature of the new act is the changing of the 180-day exclusivity term of the first generic drug copy to only the 30-day term. Exclusivity, in the old law is granted for the manufacturer of the generic drug to market the product exclusively within 180 days that is for the manufacturer who first secured the FDA’s approval of the generic copy.With the new law, exclusivity term is shortened for the purpose of further price reduction of the generic drugs as competition is encouraged after the 30-day term. It is estimated, according to Schumer’s study that the new law will enable consumers to save 60% of their usual expense when buying branded drugs and that will give consumers a total of $71 billion savings in 10 years (Bash, Dana, CNN Online, May 01, 2001). Schumer cited Claritin, a prescription allergy drug as example which costs an average of $63.65 while its generic equivalent will only cost $25. 46. Generally, the new law is of great help for the Americans in terms of their medical expenditures. CONCLUSION By looking into the basic responsibilities and functions of the FDA and DEA, we were able to have an idea of the basic legal aspect of drug manufacturing and marketing. Also by having an overview of the laws governing generic copy manufacturing, we were able to have the basic knowledge of how the approval process rolls.In general we can conclude that the legal process of drug manufacturing and marketing is really a long and expensive process for the companies especially for the branded or patented drugs. However with the Schumer-McCain Act, the process is shortened and had benefited especially the consumers for enabling the cheaper version of their branded medicine to be marketed. REFERENCES 1FDAs Mission Statement. Retrieved on August 26, 2007 from http://www. fda. gov/opacom/morechoices/mission. html 2DEA Mission Statement. Retrieved on August 26, 2007 from http://www.usdoj. gov/dea/agency/mission. htm 3Senate Passes Ground-Breaking Schumer-McCain Generic Drug Bill (Press Release). July 31, 2002. Retrieved on August 26, 2007 from http://schumer. senate. gov/SchumerWebsite/pressroom/press_releases/PR01124. html Bash, Dana. McCain, Schumer introduce generic drug bill. CNN Online. May 01, 2001. Retrieved on August 26, 2007 from http://archives. cnn. com/2001/ALLPOLITICS/05/01/senate. genericdrugs/index. html Coster, John M. The Waxman-Hatch Generic Drug Law: 23 Years Later. The Pharmacist. June 19, 2007. Vol. 32 No. 6Griffith, Christopher, et. al. (2002). View from Washington: Senate approves changes in generic-drug approval. Leydig, Voit Mayer, Ltd. Report. October 2002. Volume 3 Issue 4 Colonel bans use of ‘magic mint' herb. Salt Lake Tribune. August 20, 2007. Retrieved on August 26, 2007 from http: //www. sltrib. com/News/ci_6668009 Federal Authorities Warn Against Online Rogue Pharmacies. KT4 Online. Retrieved on August 26, 2007 from http://www. ktiv. com/News/index. php? ID=16295 What FDA Regulates. Retrieved on August 26, 2007 from http://www. fda. gov/comments/regs. html