Free Essays on OPEC

The Organization of Petroleum Exporting Countries is better referred to a large portion of the world as OPEC. Yet, the normal resident thinks minimal about the reasons OPEC impacts the world economy. OPEC is a gathering of eleven countries that sells oil on the world market. Oil delivering countries in the 1960’s found that when they cooperated they could apply power over the world oil costs. This was the beginnings of the oil cartel known as OPEC. The first OPEC individuals included Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Today presently eleven countries are OPEC individuals; representing practically 40% of world oil creation and around 2/3 of the world's demonstrated oil saves. (OPEC Brief) A cartel endeavors to help costs higher than they would be under progressively serious conditions therefore expanding benefits of its individuals. (Carbaugh) They can do this by limiting rivalry among contending countries utilizing creation amounts. Before the arrangement of OPEC oil delivering countries carried on like individual contenders, every country reluctant to bring their costs up in dread that different countries would not do likewise and the country that raised their costs would lose its sells. Despite the fact that there are still some minor issues and contrasts between oil creation individuals, OPEC has figured out how to be the best cartel ever. For a cartel to be fruitful its individuals must control a huge portion of the world market and ought to concede to a typical arrangement of costs on their item. (Carbaugh) In the 1960’s the cost of oil was three dollars a barrel. In the mid 70’s costs start to ascend as the cartel cooperated. Since that time oil c osts have never been the equivalent. Most cartels make some hard memories defeating the challenges that are related with cartels. OPEC has experienced a portion of similar issues. A portion of the issues include: Number of venders: as the individuals number increment, the harder it becomes it is to frame a ca... Free Essays on OPEC Free Essays on OPEC The Organization of Petroleum Exporting Countries is better referred to the greater part of the world as OPEC. However, the normal resident thinks minimal about the reasons OPEC impacts the world economy. OPEC is a gathering of eleven countries that sells oil on the world market. Oil delivering countries in the 1960’s found that when they cooperated they could apply authority over the world oil costs. This was the beginnings of the oil cartel known as OPEC. The first OPEC individuals included Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Today as of now eleven countries are OPEC individuals; representing practically 40% of world oil creation and around 2/3 of the world's demonstrated oil holds. (OPEC Brief) A cartel endeavors to help costs higher than they would be under progressively serious conditions in this manner expanding benefits of its individuals. (Carbaugh) They can do this by confining rivalry among contending countries utilizing creation standards. Before the arrangement of OPEC oil creating countries carried on like individual contenders, every country reluctant to bring their costs up in dread that different countries would not do likewise and the country that raised their costs would lose its sells. Despite the fact that there are still some minor issues and contrasts between oil creation individuals, OPEC has figured out how to be the best cartel ever. For a cartel to be effective its individuals must control an exceptionally huge portion of the world market and ought to concede to a typical arrangement of costs on their item. (Carbaugh) In the 1960’s the cost of oil was three dollars a barrel. In the mid 70’s costs start to ascend as the cartel cooperated. Since that time oil costs have never been the equivalent. Most cartels make some hard memories conquering the challenges that are related with cartels. OPEC has experienced a portion of similar issues. A portion of the issues include: Number of dealers: as the individuals number increment, the harder it becomes it is to frame a ca...

The economy in California Essay Example | Topics and Well Written Essays - 1250 words

The economy in California - Essay Example Over the span of this evaluation and examination, different variables are considered considering their impacts and suggestions on the economy. These elements are isolated by their degree of impact and their extension concerning how every individual substance can manage them (Melvin and Boyes, 122). In that capacity, financial matters as a sociology consolidates parts of creation, dissemination and use of items and administrations inside an economy and the different components that influence this cycle. For an appropriate and increasingly astute investigation of these components, the ideas of smaller scale and macroeconomics are acquainted with manage changing points of view of the manner by which different elements sway on the economy. Microeconomics regularly manages perspectives that are inside a given financial entity’s degree, and alludes to factors that the element has command over. Then again, macroeconomics lays accentuation on factors that a financial element has pract ically no influence over, particularly factors that have a national, transnational or worldwide extension. A case of a factor that influences the economy on a national point of view is the expansion rate, or the degree of swelling inside the economy. All things considered, the investigation of this factor frames a clever aftereffect from which the effect of macroeconomic variables can be seen comparable to the economy. BODY: On a general stage, expansion can be depicted as the steady increment in the costs of products and administration arrangement inside an economy over a given period. This is occasioned by the estimation of the cash dropping, whereby the budgetary may of a unit of money drops and it can buy lesser and lesser things as the degree of swelling increases.... On different stages, expansion alludes to a normal increment in the cash coursing inside an economy, as occasioned by the estimation of the money dropping justifying the requirement for progressively lawful delicate to finish an exchange (Melvin and Boyes, 134). Swelling is brought about by various variables, running from government use surpassing the incomes, or the private area causing deficits in yield bringing about interest surpassing the gracefully of products and ventures. In addition, expanded creation costs additionally bring about expanded costs of products subsequently bringing about expansion. The measure for expansion is brought out through the value record that screens the general evaluating of purchaser merchandise and enterprises over a given period. The general rate change in cost generally involves the expansion level inside the economy. The effects of expansion can be both positive and negative in certain examples. Be that as it may, its negative power is more affe cting than the beneficial outcomes (McEachern, 187). There are levels of swelling, with low degrees of expansion for the most part considered not as hurtful. Be that as it may, zero and high swelling are viewed as unsafe to any economy. The significant effect of expansion is that it makes a monetary deficiency for people who are making due on a fixed salary. This is occasioned by the absence of pay dynamism corresponding to the pace of expansion (McEachern, 222). The measure of extra cash for such people diminishes, in this way prompting less use, further improving the expansion rate. This outcomes in limited investment funds, as more cash is utilized in buys that were beforehand less stressing on the money related muscle. Be that as it may, expansion can likewise bring about shrouded charge brings particularly up in

Assignment Final Project - Business Memo - Driving Value From

Assignment Final Project - Business Memo - Driving Value From Assignment: Final Project - Business Memo - Driving Value From Business Information Systems â€" Assignment Example > Memo Dr. Bruce Huang David Savo cc: March 30, Re: BUSINESS MEMO - DRIVING VALUE FROM BUSINESS INFORMATION SYSTEMS The focus for this week has been on the need to drive value from business information systems. One important aspect of learning that was undertaken this week was the real essence of having business information systems, which has to do with the need to utilize the information system to gain value (Brecher and Costello, 2008). As the global business environment becomes diversified and complex with demands of information technology, one may be tempted to think that information systems are ordinary requirements of modern business that are put in place to get the same old results in different ways. This week’s lessons have however showed that this is not the case. Into my final project therefore, I am going to look at best practices that ought to be in place for my selected organization to gain value from its information systems. It will be very important that the organiz ation will seek for changes in results rather than looking for changes in the way things are done. It is from this perspective that the final project will be focusing on. Ahead of the final project, preliminary literature search has aided in outlining some important things that my organization, which is Wal-Mart can do to drive value. In the first place, it is important for the organization to have the realization that real value is not in the information systems but in the people that power the systems (Khani and Bahrami, 2011). What this means is that the value of the information system is largely dependent on the value in the human resource that work with the systems. As a result of this, it is important that the human resource will constantly be equipped through various means of competency based training that are directed related to the technical demands of the information system. The second recommendation for creating value has to do with the need to expertly align the proces sing output of the information system with the strategic goals of the organization. This is because where the system is made to function in way that is not related to the organizational goal the consequence will be that value driven will not be of influential benefit to the organization (Tallon and Pinsonneault, 2011). With the above note, another major issue that has to be considered has to be the source of perpetual funding of the information system. This is because there are accounts of organizations that have been stuck with their information systems that never grew from the levels from which they were implemented due to lack of funds (Khani and Bahrami, 2011). Meanwhile, the constant advancement of systems through system improvements is very relevant in ensuring that systems become effective in yielding the level of values they are targeted to yield. With this understanding in mind, it will be very important that the organization will have a technology fund that is specifical ly dedicated to the development and advancement of the information system that will be put in place. Most preferably, it is suggested that the technology fund will be an internally generated fund that can constantly be monitored for its inflows and outflows. It is hoped that once this is done, the information system can constantly be advanced to create levels of values that competitive with the changing global business environment (Porter, 2008). References Brecher, J., Costello, T. (2008). Global village or global pillage: Economic reconstruction from the bottom up. London: South End Press Khani, N., Nor, K., Bahrami, M. (2011). IS/IT capability and Strategic Information System Planning (SISP) Success. International Management Review, 7(2), 75â€"83 Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78â€"93. Tallon, P. P., Pinsonneault, A. (2011). Competing perspectives on the link between strategic information technology alignment and organizational agility: Insights from a mediation model. MIS Quarterly, 35(2), 463â€"486.

The First Televised Debate Between Richard Nixon And John...

1960s The event that kicked off the 1960s was the first televised Presidential Debate between Richard Nixon and John F Kennedy. This debate changed the way the American populous approached politics because it allowed anyone with a television to have a front row seat to the debate. Furthermore, when individuals listened on the radio, the thought that Nixon had better answers, but when citizens saw how composed John F Kennedy was, they believed that he had one. Also, the event that closed the 1960s was the creation of the Advanced Research Projects Network (ARPANET) in 1969, which was the precursor to the Internet that exists today. ARPANET was the first network to implement the Transmission Control Protocol/Internet Protocol (TCP/IP) protocol suite, which is the fundamental structure of networks today. This allowed for computers to communicate at a much more reliable pace by sending packets and then basing how many packets to send next on if the endpoint received all of the packets of previous information. This is considered to be the end of the 1960s because this is a high point of achievement that could be arguably unsurpassed later on in the remaining months of the 1960s/ The Era of the Common Man: The Era of the Common Man began with rise of Andrew Jackson and the Jacksonian Democrats in the 1820s. After Jackson lost the 1824 election, even though he won the majority of the popular vote, the American public rallied around Jackson and in the 1828 election, JacksonShow MoreRelatedPresidential Debate Over Presidential Debates947 Words   |  4 Pagesthrottle, Kennedy and Nixon’s presidential debates of 1960 are still very much a part of American democracy. Televised presidential debates have become a backbone in an American election. 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The Loss Of The Native American - 1068 Words

Shanita Mullen K. Dulaney AFAM. 1020.51 Cultural Diversity June 22, 2015 The Loss of the Native American Native Americans have always been mistreated, neglected, and behind in everything. Although they were considerably the first Americans they were striped from their own land making them migrate to other places besides home. Native Americans have also experienced neglect. Whether it was their beliefs or identity the Native Americans have always been treated unfair. Native Americans are behind in obtaining a higher education, healthcare, and most importantly employment. Native Americans have been struggling for many years to acquire their environmental rights: Native Americans have been misunderstood and ill-treated by their conquerors for several centuries. Assuming that he had reach the Indies, Christopher Columbus called the native residents â€Å"people of India.† The European immigrants who followed Columbus did not understand them any more than the Native Americans could have anticipated the destruction of their way of life. But the Europeans had superior weaponry, and the diseases they brought wiped out huge numbers of indigenous people throughout the Western hemisphere. (Schaefer 149) Christopher Columbus found the Native American people when he stumbled across new land that he believed was the Indies, so he called them the people of India. It is known today that Christopher Columbus Found America. But the vague truth is that he seized it from these people that wereShow MoreRelatedLanguage Loss: Native American Languages Essay2014 Words   |  9 Pagesmillions to the hundred thousands, continuing to the tens of thousands, to the hundreds and even down to the tens (Many Languages). 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Abortion Outline 3 Free Essays

Why choose Pro-Life over Pro-Choice Thesis: Although convenient, abortions are cruel, and inhumane alternatives to pregnancy. I. What is abortion? A. We will write a custom essay sample on Abortion Outline 3 or any similar topic only for you Order Now Abortion is the termination of a pregnancy, either by choice, or for medical reasons. B. There are two possible ways to terminate a pregnancy (pill and in-clinic. ) C. There are also two kinds of abortion. Therapeutic abortion, which the baby is aborted for the safety of the mother, and elective abortion, in which the abortion is performed due to a choice that the mother has made for an unborn child. II. What is life? A. Most people who feel strongly of abortion and religion believe that life is created upon conception. (egg + sperm) B. Viability is when the fetus is 18 weeks old, and can live outside the womb. The fetus can still be aborted at 18 weeks, but if it were outside the womb, it would have the legal rights of a person. C. At three weeks old the fetus’ heart begins to pump blood to the body. III. Why is abortion chosen over adoption, or keeping the child? A. Some women feel its incontinent. B. Rape or incest only accounts for less than 2 percent of abortions. C. Since its not mandatory, some women don’t know the alternatives. IV. How is an abortion performed? A. There are 2 ways it can be performed. B. Aspiration abortion is the most common method of abortion. C. The average time for an abortion to be performed is 10-20 minutes. V. What are the legal attributions in an abortion? A. Abortions are 100% confidential (unless the patient is under 18. ) B. Obama’s executive order won’t protect the unborn. C. Since 1973 it has been the responsibility of 7 non-elected judges on the Supreme Court to make decisions on abortions for our nation. VI. Will the mother suffer any complications? A. Post traumatic stress disorder is very common among mothers. B. Many mothers suffer complications if they become pregnant after their abortion. C. 47% of women who have one abortion will have another. VII. Should abortion be illegal or just frowned upon? A. 53% of Americans believe that abortion should be legal in some circumstances. B. 22% believe that it should be illegal in all situations. C. Banning abortion, would make it a violation of human rights to some. VIII. Does ethnicity affect abortion statistics? A. African American women are almost 5 times as likely to have an abortion than a white woman is. B. The two main ethnicities that have abortions are Caucasian and African American. C. Most Mexican Americans are Catholic, and Catholics only contribute to 27% of abortions. IX. Abortions aren’t always performed in a safe environment. A. Unsafe abortions kill upwards of 70,000 women each year. B. Africa has the worlds highest maternal mortality (100x more than developed countries. ) C. In Latin America 21% of maternal deaths are associated with unsafe abortion. X. Unborn babies have characteristics of humans outside the womb. A. By 20 weeks fetuses have pain receptors. B. At 4 weeks fetuses can hear C. At 5 weeks the fetus is just a sac of DNA. XI. Abortion is not globally accepted A. Abortion in Eastern Europe is higher than any other developed country. B. In Russia where abortion is legal 19/1,000 women have abortions. C. Whereas in Poland where abortion is illegal and highly frowned upon, not 1 % of the population has abortions. XII. Differences between pro-life and pro-choice. A. Pro-life tends to be more of a republican base and believe that everyone has a right to life. B. Pro-choice are more of a Democrat base and believe that a woman has the right to be in control over her body. C. Most people don’t know the extent of abortions, and their specific procedures. How to cite Abortion Outline 3, Papers

Strategic Recommendations for Hikma

Question: Discuss about the Strategic Recommendations for Hikma Pharmaceuticals PLC. Answer: Introduction The study evaluates specific strategic recommendations to help the executive team members of Hikma Pharmaceuticals PLC so that the strategic interventions can influence the decision-making of the executives. By identifying the concepts and management principles suitable for long-run sustainability of the business framework of Hikma Pharmaceuticals PLC, the recommended strategy planning activities have been presented in the study paper (Cole, Elliott, 2007). Precisely, the study includes the mission, vision, and objectives of Hikma Pharmaceuticals PLC providing a brief description of the firm. In the context of the strategic planning activities, a SWOT analysis has been conducted to evaluate the current organisational strengths, weaknesses, opportunities and threats associated with the business structure. Furthermore, the relevant study has focused on four verified strategy planning activities that can be considered for the organisational business perspective. By evaluating each of the strategy, the most convincing strategic intervention has been suggested providing valid justification (Zajas, 2013). To finish, a list of strategic recommendation has been included in the study paper. Organizational Background The study paper has concentrated on the strategic planning activities of Hikma Pharmaceuticals PLC, a multinational pharmaceutical corporation deals in branded and non-branded generic medicines. Comprehensively, the company manufactures medicines for a larger target market and one of the leading pharmaceuticals companies in the UK market (Cartwright, 2010). The London-based medicine manufacturing organisation has got 29 manufacturing plants in eleven countries around the globe. In the underlying section, the mission, vision, and value of the firm have been briefed as follows: Mission Hikma Pharmaceuticals PLC is committed to improving the standard of living through the products manufactured by the organisation ("Vision and Values", 2017). The dedicated workforce of Hikma Pharmaceuticals PLC has aimed to deliver high-quality medicines at affordable prices to the target audience in crucial therapeutic areas. Vision Hikma Pharmaceuticals PLCs corporate vision is to introduce modern pharmaceuticals medicines at the international level. Through strategic acquisition and growth in the organic medicine sector, the company has continued to register high standards of business responsibility towards the target consumers. Moreover, the central idea of the business operation is to attain long-run business sustainability providing essential medicines to every section of social public influencing the living standard of people. Values and Objectives Integrity and excellence can be identified as the two leading values for Hikma Pharmaceuticals PLCs business. Without compromising the reality, the company operates the business following honesty and honour ("Vision and Values", 2017). Alternatively, quality and excellence of the business have set the trend for the other competitors to be followed. The success model of the business of Hikma Pharmaceuticals PLC is based on management and teamwork. Through diversified business model, Hikma Pharmaceuticals PLC has wanted to be one of the leading manufacturers of generic branded medicines at the international level. SWOT Analysis The SWOT analysis for Hikma Pharmaceuticals PLC has been analysed in this section as follows: Strengths Quality Products and Extensive Sales: The supply of quality drugs at the reasonable price range and extensive sales of Hikma Pharmaceuticals PLC have been the leading strengths of business in the UK, Middle East and North American market. Efficient RD Team: The efficient research and development team of Hikma Pharmaceuticals PLC has largely contributed to the growth of the business formulating latest drugs in therapeutic areas (Shekem, 2013). Attractive drug licensing partners: Hikma Pharmaceuticals PLC has got numerous drug licensing partners that are increasing the business proposition and internationalisation opportunities adding strength to the business framework. Weaknesses Dependency on the UK market: In the competitive business structure, Hikma Pharmaceuticals PLC is widely dependent on the United Kingdoms pharmaceutical market for sales perspective. As a result, such single market dependency has been a major weakness for Hikma Pharmaceuticals PLC. Limited presence in developing countries: Hikma Pharmaceuticals PLC has a limited business operation in emerging economies such as India, Russia, etc. Meanwhile, limited business presence in developing nations has been a weakness for Hikma Pharmaceuticals PLC (Cartwright, 2010). High reliance on popular medicines: Hikma Pharmaceuticals PLC has put more marketing value on blockbuster drugs. Therefore, high reliance on leading medicines has been a considerable weakness for the pharmaceutical company. Opportunities Partnership with global pharmaceuticals companies: Through building new business partnerships with leading global pharmaceutical corporations, Hikma Pharmaceuticals PLC has created substantial growth opportunity in the global market (Cole, Elliott, 2007). Strong Product line: Development in strong product line has opened up new business opportunities for the company. Furthermore, new drug patenting and focusing on FDA approval have steadily contributed towards growth model of Hikma Pharmaceuticals PLC (Cartwright, 2010). New opportunities in emerging markets: During internationalisation of business, Hikma Pharmaceuticals PLC has significant opportunities to explore the emerging countries. Thus, the business expansion can support the revenue model of the company Threats Severe drug development guiding principle: The changing principles of drug development guidelines are a major threat for Hikma Pharmaceuticals PLC. Hence, it is important for the management to consider the drug development guiding principles to be safe from the legal obligations. Increasing competition: On the other hand, several new companies are entering the pharmaceutical industry with new patents and innovative medicines. Hence, the rising competition in the market is another major threat for Hikma Pharmaceuticals PLC. Stringent government policies: Furthermore, the government policies in the pharmaceutical industry are hard and the company needs to follow different rules and regulations. Hence, the changing rules and regulations of the government guiding the operations of pharmaceutical industries can be considered as a primary threat for the business. Strategy planning activities to accomplish the success factors The four identified strategy planning activities have been illustrated herein as follows: Internal Analysis Internal analysis is used to evaluate the core competencies of the firm to observe the factors leading to the competitive advantage of the firm in the market. Different theories and strategic analysis models are used by the modern analyst to conduct the internal environment analysis (Grant, Jordan, 2015). First is the core competency model that is also known as VRIO or VRIN framework used to analyse the competencies of the organisation that are valuable, rare, imitable and non-substitutable (Koumparoulis, 2012). On the other hand, the portfolio analysis is conducted to evaluate the product and service range of the organization. In other words, the portfolio analysis helps the management to judge the success of the products and services in the market by analysing its substitutability and demand in the market. Furthermore, the internal strategy analysis is also used to evaluate the performance of the workforce in order to identify the capabilities of the organisations. Hence, internal analysis is helpful for the management to observe and evaluate the internal strength of the organisation and develop strategies and tactics to achieve the desired goals and targets (Lee, Jose, 2008). On the other hand, the internal analysis activity makes the management aware of the competencies of the organisational structure and the higher level executives of the firm. Conclusively, the internal analysis will help Hikma Pharmaceuticals PLC to develop adequate strategies on the basis of their internal strengths. Demand and Competition Analysis The demand and competition analysis is a part of industry analysis that helps Hikma Pharmaceuticals PLC to get aware of the current factors in the external market that influence the business of the firm (Grant, Jordan, 2015). The demand analysis helps the firm to analysis the current and future demand for its products by conducting a survey and market research (Pehrsson, 2007). On the other hand, the competition analysis can be conducted to analyse the strengths and weaknesses of the rivals to identify the opportunities and threats for Hikma Pharmaceuticals PLC. Different external environment analysis tools can be used by the management to conduct the demand and competition analysis. For example, the PESTEL analysis tool can help to evaluate the external market factors such as the political factors, economic factors, socio-cultural factors, technological factors, environmental factors and legal factors that impact the demand for its products (Michael, 2013). On the other hand, the Porters Five Force analysis can be conducted to analyse the market drivers such as the buyers power, suppliers power, current rivalry, substitution of products, and entry of new rivals that impacts the operations of the organisation. Hence, the demand and competition analysis activity is quite essential in planning the strategies of the firm. Analysis of Marketing Strategy In order to increase the efficiency of the business of Hikma Pharmaceuticals PLC, analysis of current marketing strategy will be evident to determine the long-run viability of business operations (Baker, 2014). By including significant corporate vision to the marketing strategy, organisational executives can evaluate commendable marketing activities. By investigating the existing marketing concepts and structure, customer-oriented marketing concepts can be accurately introduced (B. Dent, Bozeman, 2014). On the hand, by conducting a comprehensive marketing audit, review of the developing marketing trends as well as changing consumer behaviour can be recognised. The analysis of marketing strategy will examine the marketing 7Ps so that strategies and objectives can be overridden according to the requirement. Alternatively, the analysis of current marketing strategy can identify the lack of activities associated with marketing and promotion. Precisely, based on consumer behaviour, pricing, advertisements, and distribution channels can be set to get the maximum benefits in the target market (Banerjee, 2016). To achieve sustainable marketing objectives, monitoring of the marketing tactics and corrective measures must be developed to boost the sales in the target market. Financial Analysis Hikma Pharmaceuticals PLCs management must consider financial strategy analysis so that the shareholders values can be maximised in a substantial way. Through financial analysis of the firm, Hikma Pharmaceuticals PLC can focus on sales margin, costs, and financing. Invariably, the competitive pharmaceuticals industry has got the significant potential to explore (Kim, Min, 2015). Therefore, by increasing the sales margin, Hikma Pharmaceuticals PLC can support the shareholders value. On a practical term, such strategic move can be impressive for long-run growth (Jain, 2011). Alternatively, by focusing on margin, cost reduction strategy can be formulated so that significant costs i.e. production costs, marketing costs, etc. can be reduced contributing towards the business success of the firm (Duan, 2011). Notably, the strategic financial analysis can deliver significant financing opportunities to the enterprise that can be a substantial cost factor leading to business growth. Comprehensively, the strategic financial analysis will identify the change in the exchange rates and modern trends of industry to maintain the financial obligation in a more effective manner (Zajas, 2013). Justification of the selected strategy planning activities On the basis of the above strategy planning activities, the demand and competition analysis is one of the most effective strategic interventions that can be implemented by the management to influence the role of the executive and better understand the principles and concepts of a well designed strategy process (Shekem, 2013). Furthermore, the internal analysis will be helpful for the executives to evaluate the strengths of the workforce and organisation on a whole. Additionally, the marketing strategy analysis and financial analysis will help the organisation to minimise the marketing and financial risk of the firm (Jain, 2011). Hence, the strategy planning activities will help the management to develop effective strategies to seek competitive advantage in the market (Shankar, 2011). On the other hand, the understanding of the strategic planning activities will help the organisational executives to understand the current status of the internal and external environment to meet the fut ure challenges. Recommendations By considering the above analysis, the following recommendations are provided to the executives of the firm to improve the strategy planning process: Conduct market survey: There is a need of conducting a market survey to analyse the demand of the products. On the other hand, the market survey helps the executives to understand the satisfaction level of the customers and observe their demand. Furthermore, the market survey is the primary data collection tool for conducting the external analysis. Develop strategy making plan: Additionally, the management must develop strategy formulating plan to conduct the strategy planning activities adequately. The success of the strategy relies on the planning process and the information used to formulate the strategies. Hence, understanding of the strategy planning theories is quite important for the executives of Hikma Pharmaceuticals PLC. Implement and monitor strategy: The executive must have the idea of implementing and monitoring the strategy. Hence, it is important for the management of Hikma Pharmaceuticals PLC to communicate the new strategies and objective of the firm to the lower level employees to effectively implement the strategies. The line managers and supervisors must be trained to monitor the strategies. Performance review: Finally, there is a need of performance review to observe the success of the implemented strategies and strategy planning process. A feasibility report can be developed while planning the strategies. On the other hand, productivity metrics, efficiency metrics and goals metrics can be used to evaluate the performance of the strategy implemented by Hikma Pharmaceuticals PLC. Conclusion By considering the above analysis, the management of Hikma Pharmaceuticals PLC must effectively use the strategy formulation theories in order to successfully implement the strategies. On the other hand, the executives of Hikma Pharmaceuticals PLC must be aware of the strategy planning activities to develop adequate strategies for improving the performance of the organisation. Additionally, the management need an effective strategy formulation plan to meet the future challenges and develop successful tactics to seek growth in the current market scenario. Furthermore, the executives must take care of the changing legal frameworks and enhance employee engagement to effectively manage the upcoming challenges. References Dent, E., Bozeman, P. (2014). 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