Turkey’s Retailing Sector Analysis

RETAILING INDUSTRY regarding Food-Non Food * Sectorial Overview; Retailing is the business action that includes selling items/administrations to clients for their non-business, individual or family use. Ordinarily, retailing is the last phase of the conveyance procedure. The center and long haul capability of Turkey retail industry keep staying appealing. Organizations in division bolster the sectorial development with their extension methodologies, negative business organization finance and amazing money making capabilities.The guarded structure of part and low infiltration reinforce this circumstance. With the expansion in customer request, fast urbanization, increment in enormous scope retail speculations the quantity of shopping centers in Turkey expanded by over 20% over the most recent two years. In a similar period, the all out surface lease territory in Turkey expanded by over 30% and came to As it very well may be seen on the diagram underneath; the all out size of the retai l area (sorted out and sloppy) in Turkey is relied upon to reach $355 billion out of 2013 and develop with 10% until 2016. (See Figure 1 in Appendix)Organized retail, a profoundly encouraging fragment because of expanding per capita customer spending and generally more fragile nearness up to now in correlation with created markets, is evaluated to be 40% of the all out retail industry in Turkey. (See Figure 2 and Figure 3 in Appendix) * The portion of composed retail keep expanding; The portion of sorted out retail which has the degree of %25 in the all out retail advertise in 2000 surpasses the degrees of %50 as indicated by the 2013 expectations. Turkey composed retail advertise accomplish a noteworthy development in last 10 years.It is foreseen that the portion of sorted out retailers increment from the level %47 to the level %60 in forthcoming 5 years. It is foreseen that the portion of sorted out retail increments to the degree of %60 till 2015. While the food retail section co mprise the greater part of complete retail advertise, customary structure, for example, neighborhood markets staple goods despite everything overwhelms the market. It is normal that surmised number of 10. 000 composed retail location will be twofold in 5-6 years. In addition, it is anticipated that the quantity of food supplies will be relapse from 150. 00 to 100. 000 at a similar period. Turkey, with its 105 milliard dollars deals figure, is situated in sixth line in Europe retail part. All things considered, while the all out portion of 5 greatest players in Europe is roughly %50, it is %20 in Turkey. Sorted out Retail Sector is the quickest extending channel rebate marketing. It is normal that the quantity of around 6. 000 markdown stores in Turkey will be twofold in up and coming 4 or 5 years. With the help of increment in the pay per capita, %12 development is foreseen in retail division somewhere in the range of 2009 and 2015.The markdown store chain in Turkey, (for example, A 101, SOK, BIM, DIASA) have a quick development plans. BIM is put in the main column in rebate promoting with its enormous store amount. The organization is intending to open 300 or 350 new stores each year. The quick increment in store amounts underpins scale economy and organizations can pull down their deal costs because of the decrease in costs. With the impact of expanding rivalry in segment, it is normal that the development quicken with buying in anticipated years. Regardless of the high rivalry, the retail part is growing speedily; 6 significant sorted out food retailing brand establish %37 of all out market disregarding separated structure. It is normal that it will be inorganic development, marketing and reunions, accordingly the organizations will accomplish progressively serious allegations by expanding their buying power in 2013 and later on with the force of rivalry. 2 Major Retailing Companies in the Sector; MIGROS versus BIM and MIGROS which are the conspicuous player s of Turkey food retail division, are dissected in this task as far as their money related analysis.In retailing part, these 2 organizations have an incredible impact and they are known as most impressive contenders with their offers everywhere throughout the business. Migros has 6% and BIM has 9% industry shares. (See Figure 4 in the Appendix) 1) BIM (Birlesik Magazalar A. S. ) receives as a guideline the gracefully of the greatest fundamental staple to purchasers, at the most ideal costs. BIM started its tasks in 1995 with 21 stores and in accordance with this rule. BIM’s item portfolio involves around 600 items. 44. 12% of BIM shares began to be exchanged Istanbul Stock Exchange in 15 July 2005.BIM is the principal illustrative of elevated level rebate model in Turkey and the organization got in securities exchange return for its quick development. While BIM completes its seventh year in securities exchange, it turned into the twelfth organization that has most noteworthy market estimation of Turkey. * Board of Directors Mustafa Latif TopbasChairman of the Executive Committee Ekrem PakdemirliVice Chairman of the Board Mahmud MeraliBoard part and has led the Audit Committee Jos SimonsBoard part and specialist. Omer Hulusi TopbasBoard part. Yalc? n OnerBoard part. Dr. Zeki Ziya SozenBoard part. Turnover multiplied to six; The quick development of the organization affected the ascent of BIM , whose capital’s 17,43 percent has a place with Mustafa Latif Topbas, in securities exchange. (See Table 1; Structure of BIM’s Shareholders) BIM ‘s deals incomes were 1. 4 billion TL . Toward the finish of 2011, this incomes came to 8. 2 billion TL. Likewise, the work force number of the organization expanded around multiple times in 7 years. Toward the finish of 2010, BIM turned into the underwriting pioneer with 6. 5 billion TL in the retailing division of Turkey and it kept up this situation in 2011.As abroad, while the organization builds the quantity of stores in Morocco, points Egypt for the following year. This year, BIM likewise began to work in versatile correspondence industry with the name of BIMCELL. * Growth Strategy; Aggressive Growth among the contender organizations that quality After 11% expansion in number of stores in 2011, with the quantity of 3. 584 stores in 2012, BIM is the retailer that has the biggest store organize in Turkey. (See Figure 5; Number of Stores ) BIM plans to open 400 new stores in 2013 and arrive at 5. 500 stores in 2015.With the store numbers increments there likewise has been 14% expansion in number of representatives in the organization in 2011. BIM has been growing their business, tasks in each part. (See Figure 6; Number of Employees) These increments in activity side lead to an expansion in number of normal every day clients with 14% in 2011. (See Figure 7; Average number of Daily Customers) obviously with these changes, organization did a 25 percent net deals increment over the business normal in 2011 and 2012. (See Figure 8; Sales and Gross Profit Margin) It is evaluated that a business increment more than 20 percent in 2013.Depending on this net deals development, Company’s net benefit has been expanded by 22% in the course of the most recent three years. Because of the expansion in net deals; edge esteems in regards to net benefit, net benefit, EBIT, EBITDA have been diminished more than 3 years. (See Figure 9; Net Profit and Net Profit Margin) With the impact of net deals increment, EBIT has been expanded to 347,5 of every 2011 ( See Figure 10; EBIT and EBIT edge) These was a 19%increase in company’s EBITDA and this implies there is an expansion in amortization so we can say that organization expanded their advantage buys as should be obvious on the related figure. See Figure 11; EBITDA and EBITDA edge) * multiple times has been expanded in 7 years; BIM started to be exchanged with 672. 9 million TL of market an incentive in July, 2005. The estimation of the organization expanded roughly multiple times in 7 years dependent on TL. The expansion in BIM stocks since the primary exchanging day was 1. 861 percent. Because of its quick development, BIM’s showcase esteem is the over of the Erdemir, Arcelik, Ford Otosan, Finansbank and Vak? fbank notwithstanding Tupras that is the Turkey's biggest modern venture and processing plant giant.Also, BIM has delivered its investors an all out profit of 700 million TL in the time of 7 years in the securities exchange. (See Figure 12; BIM Dividend Payment in the course of the most recent 5 years). As the company’s benefit expanded profit installments are expanded too. There has been a positive connection between them. This is a generally excellent marker for the company’s financial specialists who previously put resources into BIM’s offers and who are intending to contribute. Additionally because of the expansion in BIM’s stock costs and stock in comes; estimation of the organization likewise expanded. Along these lines, this circumstance put the organization's important investor, Mustafa Latif Topbas, to the Forbes list. Then again, for each stock BIM has truly elevated returns and it brings some significant dangers additionally for the speculators. (See Figure 13; IMKB 100 versus BIM Stocks) When we think about the circumstance of BIM’s stocks in Imkb 100 with supplies of MIGROS, BIM has a better yield, benefit for the financial specialists and on the grounds that the profits and costs of BIM higher than IMKB 100 and in light of the fact that there is an extremely significant contrast between the line as per Figure, BIM’s stocks are likewise worked and esteemed in IMKB 30. For what reason is it rising? * The fast development in the quantity of stores and underwriting. * The high limit of profit installment.. * Increasing benefit of the organization consistently. * To extend abroad with Morocco. * To carry new incomes with BIMCELL. *3/4 of the offers in securities exchange is had a place with outsiders. * Growth Targets in Egypt after Morocco: BIM will open stores in Egypt by 2013. The organization assesses that the development in Egypt will be quicker contrasted with the development in Morocco. As of late, BIM works in Morocco with 103 stores.And the organization intends to open 50 new stores in Egypt consistently after 2013. 2)MIGROS Originally settled in Turkey in 1954 as a joint effort of the Swiss-based Migros Cooperatives Society and the Istanbul region, Migros’s essential strategic to suppl

Barriers Of Entering A Foreign Market

Sketches from the Fall Semester

Sketches from the Fall Semester 1. Lamborghini recently brought this magnificent display to campus. I believe it qualifies the company for the “Best Intern Recruitment Strategy” award. (Poster next to car said:  The cooperation between Automobili Lamborghini and the Massachusetts Institute of Technology started in October 2016 through a partnership with the MIT Italy program of Dr. Serenella Sferza and Professor Carlo Ratti. THe collaboration already brought to Sant’Agata Bolognese a first MIT graduate Patricia Das, Mechanicals Engineering, Class of 2017 to experience the thrill of working in the Super Sport Car field. One year later, Automobili Lamborghini proudly announces its collaboration with two MIT labs: the “Dinca Research Lab,” led by Professor Mircea Dinca, Department of Chemistry, and the “Mechanosynthesis Group”, led by Professor Anastasios John Hart, Department of Mechanical Engineering. THese new collaborations will lead to new technologies in the fields of the Energy Accumulation Systems, Materials Science, and Manufacturing, sustained contacts between MIT and Lamborghini, and additional opportunities for MIT students to perform research at Automobili Lamborghini.) 2. Sometimes, we are very rigid in our ways. Consider how we pronounce class numbers (without class titles!): 6.111 = “six-one-eleven” but 5.111 = “five-eleven-one” 7.012 = “seven-oh-one-two” 6.0001 = “six-triple-oh-one” but 6.00 = “six-hundred” 2.009 = “two-double-oh-nine” and 3.091 = “three-oh-nine-one There is no apparent logic to this. But when a group of us heard a freshman pronounce 3.091 as “thirty-ninety-one” and 7.012 as “seven-oh-twelve, it bothered us, viscerally. Though, isn’t “seven-oh-twelve” actually more efficient than “seven-oh-one-two”? 3. East Campus is very close to classes. Anecdotal proof: For five years, Id had a perfect track record of silencing my phone in class. Then, one day, sophomore year at MIT, my phone started talking to me in the middle of a discussionâ€"oh the shame! Turns out, the classroom was so close to my room that Google Assistant thought I was still home. Also, I’ve walked myself to MIT Medical Urgent Care with food poisoningâ€"it’s just across the road! 4. I am (probably) no longer a Course 24-1 Philosophy major. Which means right now (as a senior), I am still not sure what majors/minors I am graduating with, and that is a learning moment for all the prefrosh and frosh who are already nervous about choosing a major. Plans change, but that is totally ok as long as you keep track of requirements (praise CourseRoad!) and have at least one major set. 5.   We had a K-pop dance and watch party recently. Someone even made colorful cake pops for the occasion. After the party and a birthday cheesecake for one of our hall members, we (the 21+) went to an adult dance party at a local club. At this club, everyone happened to look like a member of Coldplay. So next time, we’re going to an emo dance party where everyone will probably look like Green Day or MCR members, so that’ll be a better fitâ€"after all, our hall has hosted several “angsty teen” parties, eyeliner included. 6.   One of the papers cited in my poli sci thesis prospectus featured the phrase “my crunchy gf,” which was rather poetic. The prospectus also included a citation with  Allan K. ‘17 the Blogger as one of the authors, which I think means Allan has made it in academia (read his paper here). My thesis is titled “Mainstream Media and the U.S. Government: Correlation of Responses to Ethnic Conflict.” I’ll be exploring how media coverage influences government responses to conflicts, focusing specifically on the Ukraine-Russia conflict. The project will involve a lot of reading and programming for text analysis (aka the “text-as-data” method) and regression. It’s a mix of media studies and political science, and entirely new territory for me. 7.   Once, my upperclassman (21+) friend got drunk at a party after taking 5.111 Introductory Chemistry with the frosh (learning moment: I recommend to delay taking some GIRs). Then she blacked out and (in her words based on eyewitness accounts): “I turned to Toby and muttered ‘John what is the chemical structure of BF3?’ When i woke up i was like, “wtf is BF3” and was confused about this until Jake told me it had been on one of the 5.111 lecture slides and i had subconsciously retained it to spit it out while blacked out. Now every time i drink Toby is like, “BF3 girl.” And that is one of the most MIT stories ever. 8. Another Very MIT story: one time, master of the human genome Professor Eric Lander  decided to hire  students to clean the giant lecture hall boards before the 7.012 Biology GIR (General Institute Requirement). His pitch (paraphrased): “Here’s an opportunity for you to put employed by Eric Lander’ on your resume. Raise your hand if you want to help wipe the boards for money. We need about 5 people.” What he didn’t expect: dozens of people raising their hands. The staff had to move the application onlineâ€"learn from Prof. Lander how to make effective pitches! 9. The distinctive features of senior year are, in no particular order:   There is very little time left at MIT but, on the plus side, I’ve accumulated enough experience to pass on to the freshmen. Now I can shamelessly tell stories about my living group that start with “back in my day…”â€"its how hall legends are passed on. Incidentally, you can give advice to the frosh even if you fucked up. Call it a “learning moment.” Currently, my future looks like a dark void. Not in the usual “will I pass this class?” kind of way. There is nothing months away. My fate is uncontrollable: other people grant jobs. I also do not know where I will live, how, or with whomâ€"will I at least be able to keep my very nice free couch and bed? Wish I’d started a business or something. Networking is crucial. Maybe not so much if you’re set on graduate school, but connection can help anywhere. I got a lot of practice talking and writing emails this semester. Eventually, even meetings with friends became “coffee chats” (you’ll understand the significance of this after your first employer info session). Fortunately my recruiter-wooing game has translated into real life: after fall Career Fair, I initiated a conversation with a boy in the (free) taco truck line. Then my friend registered him to vote in Cambridge, so I guess that interaction was a success (he got to fulfill his civic duty!). Motivation level: stirred my coffee with a Sharpie. Transitioning to plastic cutlery. Post Tagged #Course 17 - Political Science #Course 24-1 - Philosophy #East Campus #GIRs

Sketches from the Fall Semester

Sketches from the Fall Semester 1. Lamborghini recently brought this magnificent display to campus. I believe it qualifies the company for the “Best Intern Recruitment Strategy” award. (Poster next to car said:  The cooperation between Automobili Lamborghini and the Massachusetts Institute of Technology started in October 2016 through a partnership with the MIT Italy program of Dr. Serenella Sferza and Professor Carlo Ratti. THe collaboration already brought to Sant’Agata Bolognese a first MIT graduate Patricia Das, Mechanicals Engineering, Class of 2017 to experience the thrill of working in the Super Sport Car field. One year later, Automobili Lamborghini proudly announces its collaboration with two MIT labs: the “Dinca Research Lab,” led by Professor Mircea Dinca, Department of Chemistry, and the “Mechanosynthesis Group”, led by Professor Anastasios John Hart, Department of Mechanical Engineering. THese new collaborations will lead to new technologies in the fields of the Energy Accumulation Systems, Materials Science, and Manufacturing, sustained contacts between MIT and Lamborghini, and additional opportunities for MIT students to perform research at Automobili Lamborghini.) 2. Sometimes, we are very rigid in our ways. Consider how we pronounce class numbers (without class titles!): 6.111 = “six-one-eleven” but 5.111 = “five-eleven-one” 7.012 = “seven-oh-one-two” 6.0001 = “six-triple-oh-one” but 6.00 = “six-hundred” 2.009 = “two-double-oh-nine” and 3.091 = “three-oh-nine-one There is no apparent logic to this. But when a group of us heard a freshman pronounce 3.091 as “thirty-ninety-one” and 7.012 as “seven-oh-twelve, it bothered us, viscerally. Though, isn’t “seven-oh-twelve” actually more efficient than “seven-oh-one-two”? 3. East Campus is very close to classes. Anecdotal proof: For five years, Id had a perfect track record of silencing my phone in class. Then, one day, sophomore year at MIT, my phone started talking to me in the middle of a discussionâ€"oh the shame! Turns out, the classroom was so close to my room that Google Assistant thought I was still home. Also, I’ve walked myself to MIT Medical Urgent Care with food poisoningâ€"it’s just across the road! 4. I am (probably) no longer a Course 24-1 Philosophy major. Which means right now (as a senior), I am still not sure what majors/minors I am graduating with, and that is a learning moment for all the prefrosh and frosh who are already nervous about choosing a major. Plans change, but that is totally ok as long as you keep track of requirements (praise CourseRoad!) and have at least one major set. 5.   We had a K-pop dance and watch party recently. Someone even made colorful cake pops for the occasion. After the party and a birthday cheesecake for one of our hall members, we (the 21+) went to an adult dance party at a local club. At this club, everyone happened to look like a member of Coldplay. So next time, we’re going to an emo dance party where everyone will probably look like Green Day or MCR members, so that’ll be a better fitâ€"after all, our hall has hosted several “angsty teen” parties, eyeliner included. 6.   One of the papers cited in my poli sci thesis prospectus featured the phrase “my crunchy gf,” which was rather poetic. The prospectus also included a citation with  Allan K. ‘17 the Blogger as one of the authors, which I think means Allan has made it in academia (read his paper here). My thesis is titled “Mainstream Media and the U.S. Government: Correlation of Responses to Ethnic Conflict.” I’ll be exploring how media coverage influences government responses to conflicts, focusing specifically on the Ukraine-Russia conflict. The project will involve a lot of reading and programming for text analysis (aka the “text-as-data” method) and regression. It’s a mix of media studies and political science, and entirely new territory for me. 7.   Once, my upperclassman (21+) friend got drunk at a party after taking 5.111 Introductory Chemistry with the frosh (learning moment: I recommend to delay taking some GIRs). Then she blacked out and (in her words based on eyewitness accounts): “I turned to Toby and muttered ‘John what is the chemical structure of BF3?’ When i woke up i was like, “wtf is BF3” and was confused about this until Jake told me it had been on one of the 5.111 lecture slides and i had subconsciously retained it to spit it out while blacked out. Now every time i drink Toby is like, “BF3 girl.” And that is one of the most MIT stories ever. 8. Another Very MIT story: one time, master of the human genome Professor Eric Lander  decided to hire  students to clean the giant lecture hall boards before the 7.012 Biology GIR (General Institute Requirement). His pitch (paraphrased): “Here’s an opportunity for you to put employed by Eric Lander’ on your resume. Raise your hand if you want to help wipe the boards for money. We need about 5 people.” What he didn’t expect: dozens of people raising their hands. The staff had to move the application onlineâ€"learn from Prof. Lander how to make effective pitches! 9. The distinctive features of senior year are, in no particular order:   There is very little time left at MIT but, on the plus side, I’ve accumulated enough experience to pass on to the freshmen. Now I can shamelessly tell stories about my living group that start with “back in my day…”â€"its how hall legends are passed on. Incidentally, you can give advice to the frosh even if you fucked up. Call it a “learning moment.” Currently, my future looks like a dark void. Not in the usual “will I pass this class?” kind of way. There is nothing months away. My fate is uncontrollable: other people grant jobs. I also do not know where I will live, how, or with whomâ€"will I at least be able to keep my very nice free couch and bed? Wish I’d started a business or something. Networking is crucial. Maybe not so much if you’re set on graduate school, but connection can help anywhere. I got a lot of practice talking and writing emails this semester. Eventually, even meetings with friends became “coffee chats” (you’ll understand the significance of this after your first employer info session). Fortunately my recruiter-wooing game has translated into real life: after fall Career Fair, I initiated a conversation with a boy in the (free) taco truck line. Then my friend registered him to vote in Cambridge, so I guess that interaction was a success (he got to fulfill his civic duty!). Motivation level: stirred my coffee with a Sharpie. Transitioning to plastic cutlery. Post Tagged #Course 17 - Political Science #Course 24-1 - Philosophy #East Campus #GIRs

The Human Resources Staff Should Be Legal - 902 Words

Throughout the hiring process, there is a host of problems that plague the system. The search for people to fill openings in any organization should be solely based on who is the best candidate for the job. The human resources staff should look for the most qualified person that will be the best fit for the organization. The human resources staff should not be seeking to fill roles based on the color of a person’s skin, their sex, or religious culture. Any job opening should be given to the person that is more deserving of the position. Hiring people to work within the federal government is a complicated process. The system is set up to make it difficult for people to get into, and then once they are in, it is a merit or seniority system that allows people to move up. Breaking through all the government s â€Å"red tape† in the hiring process is the first step to getting things going in the right direction. Mrs. Hobson stated, It’s time for us to be comfortable with that uncomfortable conversation about race† (Color Blind or Color Brave? 2014) I think it is more than that, though. It’s time that we get comfortable dealing with the things that make us uncomfortable. We need to start â€Å"getting past no,† and start looking for a way to fix what we see as wrong with the companies we work for, our society, and our country. Affirmative action is a thing of the past in my opinion. It should be phased out along with the veterans’ points. Affirmative action was needed when people wereShow MoreRelatedHuman Resource Development Needs Assessment1190 Words   |  5 Pages1. Introduction HRDNI is also recognised as human resource development needs assessment, and has been known as a training needs analysis. HRDNI also requires other process, that delve deeper into the organisations operations and requirements (Delahaye 2011). 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Thomas Paine American History Essay - 1178 Words

Devora Tzilya El Dr. Abrams American History November 24, 2016 Thomas Paine In the years leading up to the revolutionary war, there was much conflict over the rights and wrongs of the British Empire towards the colonists. There were a few important factors and a few more minor factors that influenced patriots’ decisions to turn against their homeland and beloved monarch back in England. Thomas Paine’s childhood in England left a strong impact on him and influenced his mindset when he turned against the British. The unfairness of political and societal norms made him desire a new society that disregards social classes and allows more people to vote. Again, much of his decision to turn patriot, and his writings convincing most others to turn patriot was caused by life circumstances of being on the bottom rung of society and suffering the injustices of the government towards the common folk. Little Tom was born to Joseph and Frances Cocke Pain on the 29th of January 1737, in the village of Thetford, in Norfolk county, England. Little did they know that in years to come he would change the course of History with his literary works. While most children in Thetford village were apprenticed as young as seven years old, Thomas learned how to read and write first- fostering his intelligence from a young age. His teachers noticed his natural tendencies towards learning and lent him literature. These books ignited a desire to visit the new world, as he later said: â€Å"My inclinationShow MoreRelatedAn Unsung Hero in the Story of Americas Independence1133 Words   |  5 PagesStory of America’s Independence Thomas Paine was a political philosopher, a solider, an abolitionist, and one of the most significant supporters of the American war for independence. 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Thomas Paine however knew exactly what direction he felt the colonies should go and that was to break away from Britain and become an independent nation from Britain all together. There was a crisis in America with no set rules or regulations to guide those that were living within its borders and Paine realized something had toRead MoreThomas Paine, Father of the American Revolution1250 Words   |  5 PagesThomas Paine: The Father of the American Revolution When we look at the struggle for American Independence, most of us think of the war that the original patriots fought and won against the British. We look at some of the most historical figures in American history such as George Washington along with John Adams and credit them with independence of our nation. What many of us oversee is the man who inspired our weary, undermanned, unmotivated and ill equipped nation; Thomas Paine. Paine was a manRead MoreCommon Sense by Thomas Paine859 Words   |  3 Pages1775-76 by Thomas Paine. This pamphlet inspired the thirteen colonies to declare war and fight for independence against Great Britain. It was straight forward and told Great Britain exactly the advantages of being independent from them. On January 10, 1776 during the American Revolution, the pamphlet was published and became a huge topic in the community. It was the biggest talk of the colonies. In proportion to the population, the book was the biggest circulation across the colo nies in American HistoryRead MorePolitical Contributions Of Thomas Paine1435 Words   |  6 Pagesdecisions of numerous persons in American history. Arguably one of the most influential writers in history, Thomas Paine, a brutally candid writer with firm beliefs, was a well-liked and illustriously influential Patriot writer during the American Revolution. Nonetheless, after the revolution Paine published various books that, due his brutally honest tone and chosen subjects, were controversial, unpopular, and or disregarded and criticized by conventional Americans. Consequently, leading historiansRead MoreAnalysis of Thomas Paine ´s Pamphlet, Common Sense846 Words   |  3 Pagesassassinations have occurred that people today can describe as â€Å"a turning point in history†. However, not all turning points in history have to be wars, assassinations, etc. In fact, perhaps everybody acknowledges that Thomas Paine’s pamphlet Common Sense is a â€Å"turning point in h istory† because it inspired the United States Revolutionary War. Common Sense, a pamphlet, can be credited as to inciting the American Colonies to revolt against Great Britain. However, how could a mere pamphlet concerningRead MoreThe Document Common Sense By Thomas Paine1714 Words   |  7 Pages The document Common Sense by Thomas Paine was written in 1775, and published in 1776. Though, in order to be shared with the public, Thomas Paine had to be inspired first. Some of the more common inspirations were derived from the ideas of John Locke and Thomas Hobbes. The main points of Thomas Paine’s document were to separate from English rule and to form a democratic nation. Some of John Locke’s most common ideas of the human nature were that humans needed independence to thrive, a statementRead MorePrimary Source Analysis Common Sense Essays796 Words   |  4 Pages Primary Source Analysis Thomas Paine Common Sense Context: In result of The Seven Years’ War Britain controlled American trade and territory. In order to pay for the expenses of the war several taxation acts and military presence were implemented such as the Sugar Act, Stamp Act, Currency Act, Quartering Act and the presence of British troops at the colonies. Consequently, Americans who thought these actions violated their political and constitutional liberties opposed these policies with

Medical Fraud - 2140 Words

MEDICAL FRAUD In this abstract, I will explain the specifics of my research and a detailed outline of my paper. Understanding the topic of medical fraud and off labeling is important, especially for consumers who participate in the use of prescription drugs. It is imperative to understand what your doctor is prescribing and knowing the specific uses of said drug. Off labeling may occur and recognizing this fact will only benefit a wise consumer and make them aware of the risks of using a drug that was prescribed for a uses not on the label. This topic is especially important during the time of new Healthcare reform. Although it seems like we should be able to trust our doctors and believe what they tell us and the drugs they approve†¦show more content†¦While it would seem to be illegal to keep medical information from a patient, doctors are not required to tell a patient that a drug is being used off label. (Findlaw, 2009) A big example of what off labeling would be Aspirin, though not as seemingly harmful as other drugs could be. While aspirin has been a common pain reliever for more than 100 years, in 1988 doctors began recommending its use in preventing heart attacks. Many drugs are found to remedy ailments other than those they were originally intended to treat, and as prescription drug use has soared, patients are increasingly taking them for off label purposes. (Findlaw, 2009) With all of the off label drug use comes a lot of controversy as well. While it’s understood that prescribing a drug for off label use is not considered illegal, the debate lies within whether the benefits outweigh the risk. So what can be risky about off labeling? Doctors emphasize that off label prescribing has its place in medical practice, but they also admit that using a drug off label can raise the risk of lawsuits should a patient have unwanted or bad side effects. In The Journal of Law, Medicine Ethics, Joel Frader, MD states that Off-label prescribing can expose patients to risky and ineffective treatments(Vucci, 2009). In his further opinion, Frader emphasizes that although some off-label therapies can be beneficial and even lifesaving for some patients, in most cases, there isShow MoreRelatedMedical Fraud And The United States1004 Words   |  5 Pages Medical fraud and abuse is a huge contributing factor in the rise of healthcare costs in the United States. Although there are many definitions of fraud and abuse, according to Cigna and HIPPA, medical fraud is when there is false representation of a substance, device or a therapeutic system as a way of being beneficial in treating a medical condition, diagnosing a disease, or maintaining a state of health. Medical Abuse is defined ‘as any action that intentionally harms or injures another person’Read MoreStatistics Of Medicaid Fraud That Will Shock You1285 Words   |  6 PagesStatistics of Medicaid Fraud That Will Shock You 1. In May of 2014, some 107 healthcare providers including doctors and nurses were arrested in several cities. These ones were charged with cheating the programs out of some $452 million in funds. 2. In 2010 federal officials arrested some 94 people who had filed false claims through Medicare and Medicaid, for a total of $251 million in fraudulent claims. 3. The Medicare Fraud Strike Force was formed by federal officials in 2007. The group visitedRead MoreThe Australian Competition And Commission V Vassallo795 Words   |  4 Pagesaffects of cyber crime on individuals involved. Advances in technology have enabled new ways to commit fraud online. Criminals are using new and complex techniques to commit fraud which often result in financial loss towards individuals. The two respondents in the case, Leanne Rita Vassallo and Aaron David Smith had sold medical eBooks through the internet. The eBooks claimed to provide medical cures and treatments for various health problems such as Lyme disease, asthma, herpes and prostate cancerRead MoreThe Cost Of Medicare And Reduce Its Proportion Of The Federal Budget1332 Words   |  6 Pageselimination of frauds, raising of eligibility age to 67, and seeking program discounts from medical companies like drug manufacturers. Fraud and waste of resources allocated for Medicare pose major risks to the program. Medicare is very vulnerable to a number of frauds majorly due to the fact that the program is hardly audited. Medicare scams occur in various ways that include phantom billing where healthcare providers demand money from Medicare for services not offered. The other form of fraud happensRead MoreThe Common Types Of Health Care Fraud1231 Words   |  5 Pages 1) What is the HIPPA definition of fraud? Give an example of fraud. a. The HIPPA definition of fraud is: i. â€Å"Knowingly, and willfully executes or attempts to execute a scheme...to defraud any healthcare benefit program or to obtain by means of false or fraudulent pretenses, representations, or promises any of the money or property owned by...any healthcare benefit program†. ii. One of the most common types of health care fraud occurs when there is a misrepresentation of provided services, due toRead MoreThe Criminal Case Of Dr. Richard Heartman, An Internal Medicine Physician948 Words   |  4 Pages Health insurance fraud is what drives up health insurance premium costs, wastes taxpayer’s money, but can also endanger beneficiaries or leave them uninsurable. In 2015, Medicare Strike Force reported over $700 million in false billing by doctors, nurses, other licenses medical professionals, laboratories, and individuals (FBI.gov). This is a staggering figure that is only getting worse. In this fictitious federal case I will be describing the criminal offender, the crime that was committedRead MoreThe Problem Of Fraud And Its Effects On Society770 Words   |  4 Pagesover dignity, this lack of acceptance leads to the callous deception that causes so much suffering today. This deception, found in contract fraud, means that the one soliciting a contract benefits more than the one who signs it when the terms of the agreement are manipulated. Fraud has become one of the top three causes of bankruptcy in America, along with medical bills and job loss (â€Å"Top†). In fact, a 2015 study by the Federal Trade Commission found that 25.6 million people had agreed to a fraudulentRead MoreBest Practices For Preventing Identifying And Reporting Internet Fraud Essay1590 Words   |  7 PagesBest Practices for Preventing, Identifying and Reporting Internet Fraud The Internet plays critical roles in the fabric of today s society, and people use their computers and mobile devices for business, social contact, recreation playing games and many other activities. However, everyone faces cyber crime risks when using their computersm and these perils range from phishing to investment fraud. People use their computing devices to work, buy products and services and store vital personal informationRead MoreFinancial Fraud : Fraud Against Older Americans1080 Words   |  5 PagesFinancial Fraud †¢ â€Å"900† Telephone number fraud †¢ Advance-fee loan schemes †¢ Charity fraud †¢ Credit card fraud †¢ Schemes that charge money for services that the Government provides for free †¢ Cute-rate health insurance fraud †¢ Investment fraud (Ponzi Schemes) †¢ Solicitations disguised as invoices †¢ Oil and gas investment fraud †¢ Land fraud Fraud Against Older Americans †¢ Sweepstakes advice for the elderly Sweepstakes and Lottery Fraud †¢ Illegal sweepstakes information †¢ Chain letters †¢ Free-prizeRead MoreMy Personal And Team Accomplishments991 Words   |  4 Pagesactivities outlined by the three-year strategic plan that met agency’s missions and goals. My FY15 accomplishments and selected activities are listed below. ACCOMPLISHMENTS A. Projects Achievements 1. Qualitative Study of Marriage-Based Benefit Fraud o Successfully managed and led a team of contractors and RED researchers to complete the two year-long study by collaborating with multiple components within USCIS. o Monitor and reviewed product quality to ensure contractors are producing high quality