Therapeutic Hypothermia After Cardiac Arrest Essay Example for Free

Therapeutic Hypothermia After Cardiac Arrest Essay Cardiac arrest is considered as the prime cause of sudden deaths in the modern world, claiming tens of thousands of lives globally each year (http://www.nationmaster.com/graph/mor_car_arr-mortality-cardiac-arrest).   It has been determined that survival rates after cardiac arrest are very low, due to consequent ventricular fibrillation that immediately results in zero cardiac output and death within a few minutes (http://www.nationmaster.com/encyclopedia/Ventricular-fibrillation).   During cardiac arrest, oxygen flow in the brain in significantly affected and brain damage may possibly occur if no emergency treatment is given as soon as possible. Emergency treatment of cardiac arrest generally involves manual artificial breathing to facilitate oxygen circulation to the brain, as well as chemical and electrical induction of the heart to reinstate its normal beating.   Such emergency procedures mainly aim to provide a way to reoxygenate the brain and to save it from further irreversible damage.   Consequently, reoxygenation also generates free radicals that are responsible in creating a post-resuscitation syndrome, which is characterized by necrosis of different tissues of the patient. The observation that tissues survive at particular hypothermic settings has been evaluated as a promising emergency treatment for cardiac arrest (http://www.rnweb.com/rnweb/article/articleDetail.jsp?id=158218).   Hypothermia involves subjecting the body of an individual in a temperature that is below the normal physiologic temperature.   The effect of hypothermia in protecting the brain from severe and irreversible damage during the non-oxygenated state of cardiac arrest is currently being evaluated, after successful results in dog models.   Several investigations have been conducted on the direct and immediate positive effect of hypothermia in cardiac arrest patients.    A prospective clinical trial involving the use mild resuscitative cerebral hypothermia in 27 cardiac arrest patients for at least 24 hours showed that hypothermia treatment is reliable and safe (Zeiner et al., 2000).   The procedure involved cooling of the entire body, including the head, resulting in a lowering of body temperature within 62 minutes after commencement of hypothermia treatment. It is interesting to note that no further complications associated with the cardiac arrest were observed after the application of hypothermia treatment.   In a separate investigation, 55% of cardiac arrest patients treated with hypothermia was observed to show positive responses to the treatment, as well as a decrease in the mortality rate 6 months after hypothermia treatment, suggesting that hypothermia treatment favors the prevents deleterious brain damage and death among cardiac arrest patients (HACASG, 2002). However, there are also certain issues with regards to the application of hypothermia in cardiac arrest patients that remains unclear and doubtful.   One of these includes the inclusion and exclusion criteria that will determine whether a particular patient will benefit from such treatment (Skowronski, 2005).   This comment is mainly based on the need for personalized treatment of patients because of the recent observation of inter-individual variations in the response to specific treatments. Such observation explains subtle yet significant differences that should be addressed during medication, diagnosis and testing of patients for any type of illness.   With regards to cardiac arrest emergency treatments, it is of prime importance that a patient’s unique physiological, genetic, metabolic and cardiac profile be determined first before subjecting him to hypothermic conditions.   However, this profiling may also pose to be a hindrance during emergency treatment because the survival of the cardiac arrest patient mainly depends on the speed of administration of the treatment to the patient. Specific risks have already been identified to be associated with hypothermia treatment of cardiac arrest patients (http://www.sca-aware.org/sca-treatment.php#treatment3).   The exposure of the patient to cold temperatures at a prolonged duration may cause bleeding or hemorrhage in specific organs of the patients because the cold temperature slows down the blot clotting capability of the platelets.   In addition, a cardiac patient treated with hypothermia may suffer from infection because the immune system is also inhibited by prolonged cold temperatures. An alternative treatment that is parallel to hypothermia has been proposed to be as effective as hypothermia, and possibly much safer than the more radical hypothermic exposure of the cardiac patient to low temperature levels. The alternative treatment involves intravenous introduction of ice-cold fluid to the patient using automated cooling equipment (Bernard, 2005).   Such settings provide the healthcare personnel complete control over the temperature of the intravenous fluid, which plays a vital role in the emergency treatment of the cardiac arrest patients. Until sufficient clinical investigatory information has been collected from comprehensive and comparative studies on the risks and benefits of hypothermia treatment on cardiac arrest patients, it is imperative that healthcare personnel be cautious in administering such rapid and radical treatment to cardiac arrest patients. There have been active requests from the medical research field that such investigations will provide a better understanding of the mechanisms and pathophysiological routes that are involved in the exposure of the body, most specifically the brain and the rest of the central nervous system, to cold temperature during those critical non-oxygenated states (Bernard, 2004). References Bernard (2004):   Therapeutic hypothermia after cardiac arrest: Hypothermia is now standard care for some types of cardiac arrest.   Med. J. Austral.  Ã‚   181(9):468-469. Bernard SA (2005):   Hypothermia improves outcome from cardiac arrest.   Crit. Care Resusc.   7:325-327. Hypothermia After Cardiac Arrest Study Group (HACASG) (2002):   Mild therapeutic hypothermia to improve the neurologic outcome after cardiac arrest.   N. Engl. J. Med.   346(8):549-556. Skowronski GA (2005):   Therapeutic hypothermia after cardiac arrest- Not so fast.   Crit. Care Resusc.   7:322-324. Zeiner A, Holzer M, Sterz F, Behringer W, Scho ¨rkhuber W, Mu ¨llner M, Frass M, Siostrzonek P, Ratheiser K, Kaff A and Laggner AN (2000):   Mild resuscitative hypothermia to improve neurological outcome after cardiac arrest: A clinical feasibility trial.   Stroke   31:86-94. http://www.nationmaster.com/encyclopedia/Ventricular-fibrillation      Ã‚  Ã‚  Nation Master- EncyclopediaVentricular fibrillation http://www.nationmaster.com/graph/mor_car_arr-mortality-cardiac-arrest   Ã‚  Ã‚   Mortality Statistics Cardiac arrest by country http://mweb.com/rnweb/article/articleDetail.jsp?id158219 http://www.sca-aware.org/sca-treatment.php#treatment3   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therapeutic Hypothermia

The Carbonated Soft Drinks Industry And Pepsico Strategy Marketing Essay

The Carbonated Soft Drinks Industry And Pepsico Strategy Marketing Essay The chart below shows the dominant players in the carbonated soft drinks (CSD) industry according to Beverage Digest report issued on March 30, 2009. The results of this report are for the year 2008 (Sicher, 2009, p.2). Coca Cola has the largest market share accounting for 43%, followed by PepsiCo with 31% and Dr.Pepper Snapple Group Inc. (formerly Cadbury Schweppes) with 15% of the market. The remaining 11% is distributed amongst other CSD companies such as Cott Corp, National Beverage, Red Bull, Big Red, Rockstar, Private label and others. Moreover, the top 10 CSD brands in the U.S for the year 2008 were ranked by market share as follows (Sicher, 2009, p.2). Brands Company Market Share Coke Coca-Cola 17.3% Pepsi-Cola PepsiCo 10.3% Diet Coke Coca-Cola 10% Mountain Dew PepsiCo 6.8% Dr.Pepper Dr.Pepper Snapple Group(DPS) 6.1% Diet Pepsi PepsiCo 5.7% Sprite Coca-Cola 5.6% Fanta Coca-Cola 1.8% Diet Mountain Dew PepsiCo 1.8% Diet Dr.Pepper Dr.Pepper Snapple Group(DPS) 1.6% With regard to individual brands, Coke was ranked first with 17.3% market share and Pepsi-cola was in second place with a lower market share of 10.3%. Additionally, the total market share of all Coca-cola brands adds up to (34.7%) which still surpasses those of PepsiCo (24.6%). To be able to give an in-depth analysis and evaluation of the Soft Drink industry, the following factors should be considered: The relevant industry trends and the most noticeable changes in the industry. The strategic group map. The industry attractiveness using Michael Porter five forces model. A. Relevant industry trends Industry Growth The graph below shows the performance of the CSD market from 1990 up to 2008. It is observed that the industry faced a sharp decline in growth starting from 2005, where the percent volume change fell below zero. This was followed by a further decline in growth rates: -0.6% in 2006, then -2.3% in 2007 and -3% in 2008 (Sicher, 2009, p.1). Conversely, the energy drink companies were experiencing a positive growth. Hansen Natural, which has both soft drinks and energy drinks in its portfolio of products, witnessed a +3.3% CSD growth. Additionally, Red Bulls volume also increased +5.2%. Although Hansen Natural and Red Bull make up a small portion of the total market share pie, the increase in their growth rates indicates that PepsiCo has to pay attention to them. Political Factors: There are several political factors that influence the soft drinks industry: Obey food, Drug and cosmetic acts: the process of producing and distributing the soft drinks in the market is subjects to many federal laws such as the food, drug and cosmetics acts. It is also subject to American with disabilities acts. The presence of these laws helps create a healthy environment for the consumers. This will limit the potentials of new entrants in this industry. Environmental laws regulations: these laws enforce packaging, recycling, water and energy policies to make sure the CSD industry operates in a healthy environment. This leads to making the soft drink industry more attractive for consumers. Double Taxation: Another political factor is that companies operating in the industry are obligated to tax payments for the products they offer and distribute in each country they operate within. Hence, this leads to making the industry less attractive because operating firms are subject to double taxation policies. Economical Factors: Inflation in diesel prices: it is an important factor affecting the CSD industry. Since, the CSD relies on trucks to distribute its diverse end line products; trucks are subject to inflation in fuel prices. Since the consumption of fuel is the core activity, diesel prices are subject to inflation depending on the market conditions. Yet, the possibility of a market crisis rises. Foreign exchange rates fluctuations: Carbonated soft drinks firms revenues are affected by exchange rates fluctuations as well as profits and the cost of raw materials. Due to the weak economic growth the industry will suffer heavily by changes in exchange rates. Thus, profits and cost are going to be lower and higher respectively. Socio cultural Factors: Obesity: Dr. Gabe Mirkin says: A study from Harvard shows that of soft drinks may be responsible for the doubling of obesity in children over the last 15 years. (Gabe Mirkin, 2004) Recently, as the people are becoming more and more educated, the level of their health awareness is increasing. Obesity is becoming more and more apparent, leading to people taking good care of their health. Soft drinks are full with empty calories which cause obesity. The trend of obesity in children is rising since the soft drinks consumers are young and between the range of 14 and 30. In fact, studies done by the UCLA Center for Health Policy Research shows that Adults who do drink one or more sodas or other sugar-sweetened beverages each day are 27% more likely to be overweight or obese. (16 Facts About Soft Drinks and Obesity, 2009) Change in life style consumer tastes: Nowadays the consumer of the carbonated soft drink industry are shifting their tastes toward drinking more healthier drinks such as water and fresh juices instead of carbonated soft drink full with sugar that will have a negative effect on the consumer health in the long run. People have become more health conscious for instance they are moving toward the consumption of healthier beverages such as water and fresh juices. Its estimated that the consumption of juices will increase up to 20 % within the coming three years. (Health Conscious Chileans Switching to Non-carbonated Drinks, 2009) Technological Factors: Introducing new technologies in the soft drink industry has helped in developing the process of manufacturing. For example: PDX technology: It is a shockwave technology that helps in mixing the ingredients in an efficient way. Pursuit Dynamics, the supplier, said that this technology is most useful for the soft drinks industry. This technology is believed to help in cutting the cleaning time up to 80%. Also, it will also increase the processing speed and save power. (New technology targets diet soft drinks makers, 2009) Other Noticeable trends: Merger and acquisition: It is very common in the soft drinks industry, it causes many firm to exit and then re-enter the industry. Many leaders in the soft drinks industry use acquisition in order to grow and increase their market share. For example, what PepsiCo did to expand into the energy drink sector, it acquired Quaker Oat, who already bought Gatorade. Hence, the competition on the products diversifications for a firm will increase. Using glass bottles instead of plastic bottles: Many soft drinks companies are moving toward using glass bottles because these bottles are more environmental friendly. According to G Karthikeyan, the manger of sales in Jabal Ali Container Glass, the demand for glass bottles has increased recently because some of the chemicals in the soft drinks can react with the plastic and caused serious diseases. Using glass bottles help that the soft drink bottle taste better and last for long time. (Sathish, 2010) Banning soft drinks in schools: The American beverage association has announced the removal of soft drinks from schools. It asked for the removal of full calorie drinks and the replacement will be the healthy, low calorie beverages. That decision has been made because the child obesity is increasing rapidly. The announcement said that in elementary schools, children can only have 100% fresh juices, low fat milk and water, while in high schools the students can have all types of diet beverages and sport drinks as well as the drinks available for the elementary schools.(FBD,2010) B. Strategic Group Map The strategic group map above shows the competitive positions of different competitors in the CSD industry. It consists of the five largest competitors in the industry. The axes represent two competitive characteristics: the product categories offered by each competitor and geographic coverage in terms of the number of countries. The size of the circles is proportional to the relative market share of the company. PepsiCo has offers the largest variety of product categories amounting to 10 categories, followed by Coca-cola which offers 7 categories. Dr.Pepper Snapple Group, Cott Corp and National beverage all offer 5 product categories, however these categories are differ slightly. Also, their geographic locations vary which explains why they are located on different points on the strategic group map. The strategic group map was constructed using the information in the table below: Geographic coverage Product Categories offered Coca cola 200 + (The coca-cola system, n.d.) 1.Soft drinks 2.Energy drinks 3.Juices / Juice Drinks 4.Sports drinks 5.Tea and coffee 6.water 7.other  [1]   Pepsi 150 (Our history, n.d.) 1.Soft drinks 2.Energy drinks 3.Juices / Juice Drinks 4.Sports drinks 5.Ready to drink tea 6.Ready to drink coffee 7.water 8.Dairy based drinks 9.Fruit flavored beverages 10.Frozen beverages  [2]   Dr.Pepper Snapple Group 81 (The best history on earth, n.d) 1.CSD 2.Juices 3.Ready to drink tea 4.Mixers 5.Other Premium beverages  [3]   Cott Corp 60 (About us, n.d.) 1.CSD 2.Energy Drinks 3.Juice Drinks 4.Tea 5.Water  [4]   National Beverage 13 (Overview, n.d.) 1.CSD 2.Energy Drinks 3.Water 4.Fortified powders and supplements 5.Functionally enhanced juices and waters  [5]   C. Michael Porter five forces model Industry is classified as the Carbonated Soft Drinks Industry Rivalry HIGH Rivalry in this market is very intense due to a number of factors such as the number of competitors, growth of the industry, product differentiation, switching costs and change in consumer tastes. There are a few large competitors that are roughly equal in size. These competitors are Coca-cola with a market share of 43% and Pepsi with 31%. The market shares of Coca-cola and PepsiCo combined makes up more than 70% of the whole market. Thus, it allows these major competitors to watch each other closely. However, there are many other competitors that compete with these two giants and intensify rivalry. These include other soft drink companies (e.g. Dr.Pepper Snapple Group and National Beverage) and energy drink companies (e.g. Red bull and Rockstar). As mentioned earlier, the CSD industry faced a 3% decline in growth in 2008. A declining growth rate indicated that the many competitors in the market will have to share the shrinking pie. Also, in an industry such as CSD, there is little opportunity for differentiation relative to other products (e.g. cars) which lowers switching costs for consumers. The change in lifestyles which caused consumers to shift away from carbonated to non-carbonated soft drinks increased the level of competition. As a result, companies such as PepsiCo and Coco-cola had to adapt to these changes in demand by focusing on marketing and innovation (Human sustainability, n.d.). Bargaining power of Buyers MODERATE to HIGH The buyers in this industry can be classified into two categories: Those that buy in large quantities (Matthews Knaus, 2006, p.2): Supermarkets (31%) Fountain outlets: e.g. restaurants (23%) Vending machines (14%) Mass merchandisers (6%) Convenience stores/ Gas stations (5%) Small grocers (4%) Other: gas stations, drug chains, gas stations/minimarts, airlines and other channels of distribution (17%) Those that buy in small quantities: Final consumer The first category of buyers has high bargaining power. Generally, in industries characterized with many suppliers and a few large buyers, the buyers capture a greater share of the profits. This is because they buy in bulk and they can easily switch between suppliers since the product is standard, lacks differentiation and is easily available in the market. Additionally, these buyers have the power to demand higher quality or more service because they buy in large quantities. An example of a buyer that buys in bulk is the large retail store, Walmart. The second category of buyers is the end consumers. The fragmented nature of the buyer group and the low quantities purchased by them lowers their bargaining power. However, the bargaining power is increased due to the presence of substitutes, low switching costs. Thus, the bargaining power of end consumers is considered to be moderate overall. Bargaining power of Suppliers- MODEATE to LOW Before looking at the supplier group, it is important to first consider the types of input or raw materials that are used in this industry. These are: sugar, bottles, cans, water, ink and plastic. The inputs used are homogeneous and not differentiated which makes them readily available in the market. The supplier group in this industry is not powerful and does not possess a high bargaining power. There are many suppliers which make the supplier group more fragmented than the industry it sells to. Also, the product or input is neither unique nor differentiated and the suppliers do not represent a high percentage of total costs in the industry. One factor that may increase the bargaining power of suppliers is that consumers are more becoming more health conscious. This gives suppliers that offer healthier ingredients more bargaining power since they are smaller in number. Nevertheless, this bargaining power can be mitigated by having a long term agreement with the suppliers. Threat of Substitutes: HIGH Again, substitutes are classified into two categories: (1) Substitutes that come from distant industries, and (2) substitutes that come from within the industry- internal substitution. Since we classified the industry as that of carbonated soft drinks, then the substitutes from distant industries will be non-carbonated soft drinks. These include juice, water, milk, tea, coffee and the like. On the other hand, substitutes from within the industry include CSD such as sodas and energy drinks. Both types of substitutes pose a high threat because consumers switching costs between substitutes are low. Additionally, since people are more health conscious, they are more willing to substitute CSD with healthier alternatives. Threat of New Entrants: Moderate to LOW The entry barriers in the CSD industry are of different types, each having a significant effect on the threat of potential new entrants, these include: Technical barriers: For instance, PepsiCo has an absolute cost advantage enabling it to achieve lower average costs. That is, even if an individual or company was able to discover Pepsis recipe, they will not be able to achieve the low costs of PepsiCo. This is because PepsiCo is a large company that has economies of scale. Commercial Barriers: these barriers include brand name, reputation, access to distribution etc. In an industry like CSD, it is very difficult for a new entrant to compete effectively with the existing competitors that already have a large and loyal customer base. New entrants will have to put in a lot of marketing efforts and resources in order to convince customers to switch to their products. This will be time consuming and will also require a large amount of capital. Additionally, it is very difficult for new entrant to gain access to extensive distribution channels like those of Coca cola and PepsiCo. Financial Barriers: these barriers include capital requirement, access to financing etc. The bottling process requires a higher amount of capital than concentrate manufacturing since it is associated with higher fixed assets. For concentrate manufacturing, one plant which has the potential to serve a country as large as the United States costs $25 million. On the other hand, the bottling process needs 80 to 85 plants, each costing $30-50 million, to provide efficient distribution for a country the size of the US. Moreover, the bottling process is highly specific to both the type packaging and the bottling process. This, in return, makes it difficult to exit the market. (Cola wars, n.d., p.3) Retaliation: the more retaliation new entrants expect from existing competitors, the higher the entry barrier. In this industry, new entrants should expect sharp retaliation. The aforementioned barriers to entry lower the threat of new entrants. However, there is another factor that should be taken into consideration: private label brands. Cott Corp. holds the majority of private label brands in addition to few other smaller companies. Since private label brands are cheaper, retailers would find it more attractive to sell them, instead of Coca-cola or Pepsi, taking into consideration the higher profit associated with them. Thus, the threat of these private brands slightly increase the threat posed by new entrants. This makes the overall threat of new entrants moderate to low. (Pepsi, n.d., p.6) Conclusion The spider web below summarized the five forces (the 6th force is excluded). The more intense the forces are, the less attractive the market is. Most of the forces in the CSD industry are moderate to high which indicates that this industry is not attractive for new entrants. However, for those companies that are already in the industry, it is attractive. 2. Key Success Factors of Carbonated Soft Drinks industry 1. Size of Company (distribution and market share) The companies size is an important factor in such an industry. E.g. PepsiCo is the second leader in the industry as well as one with the largest market share. 2. Location (Convenience and Availability) Convenience for customers is also essential in a soft drink industry. Such that a company must make sure the soft drink is readily available everywhere in supermarket, grocery stores, vending machines, and restaurants. Brand Loyalty Due to the diverse soft drinks and the intense competition in the industry, brand loyalty plays an important success factor for a company. E.g. PepsiCos regular customers are devoted to Pepsi and they rarely switch to other brands. Loyalty creates inelastic price change. PepsiCo successfully adapts to customer taste. International market International presence is essential for the success of Soft Drinks industry. Going global is important for it helps the company enhance growth. E.g. the majority of PepsiCos profits come from US yet population growth in markets like India and china could lead to potential market growth. SWOT Analysis Strengths: Strong Brand Reputation Strong market Position PepsiCo is an early entrant which helped build market share. Its market share accounts for 31% of the market share of the carbonated soft drinks industry. Availability of large Free Cash Flow ( and Strong Revenue Growth) Solid revenue results in the second quarter of 2009 reflecting PepsiCos Product innovation, strong effective net pricing, and cost discipline showing a 5.5 percent increase in net revenue and an 8 percent increase in core EPS. PepsiCo Chairman and Chief Executive Officer, Indra Nooyi said Our results this quarter reinforce the advantages of our balanced portfolio, as our food and international businesses delivered solid performance while we continued the transformation of our North American beverage business.(Nooyi, 2009) PepsiCo has large amount of free cash flow and lack of capital constraint creating strength for the company to improve its innovative capabilities, and create a strong distribution thus further strengthening its brand. Strong and creative advertisement Besides PepsiCos strong advertisement, it uses creative techniques. Such that PepsiCo created an add through a football field with most well known players (Kaka-Brazilian, Henry-France, Drogba-Godivoi, Messi-Argentine, Lumoard-England) . Extensive product list Pepsi offers various products besides the Pepsi cola. It offers beverages and snacks. Its also the number one maker of snacks (potato chips and corn chips). Weaknesses: Many Large existing Competitors Large existing competitors in the market create significant weakness for PepsiCo and thus create a need for stronger advertising, consequently requiring higher capital. Following are the strong competitors sharing a high market share in comparison to PepsiCo with 31% market share: Coca Cola has a market share of Æ’Â   43% Dr.Pepper Snapple Group Inc. Æ’Â  15% of the market Concentration PepsiCo is concentrated in North America (US, Canada, Mexico), where almost 70% of its revenues comes from. Opportunities: Acquisitions and Alliances: Due to the increased threat of rivalry and competition in the carbonated soft drink industry, acquisitions and alliances create an opportunity that reduces such threats. Through acquisition the market share rises and the revenue rises, though the high cost of doing it is a drawback to such a strategy. Acquisitions of rivals (e.g. RedBull) Increase Market Share Increase Advertisements Advertisements play a major role in Carbonated Industries. For example, for one to see Pepsis add on road while very thirsty would likely to stop by a petrol station or any convenient store who offers Pepsi to purchase it. Strengthen Brand names of N.A portfolio: Since coke dominates Western Europe and Latin America, PEPSI dominates Middle East and Southeast Asia. Threats: Change in customers taste: weakening demand in USA Æ’Â  new federal nutrition guidelines identified regular CSD as largest source of obesity-causing sugars in American diet (Pinto, 2006) Health care awareness Increased awareness of health campaigns cut down revenues of soft drink industries. Customers move to substitutes such as water, non-carbonated drinks and juices. These challenges are PepsiCos target to overcome, such as the figure below shows the peoples negative perception of PepsiCo. High Rivalry As Explained earlier, threat of rivalry is very intense due to the following factors: Large number of competitors, Decline in growth of the industry, Lack of differentiation in products, and low switching costs. Therefore there exists an intense competition for shelf space due to expanding array of products and packaging options Large company size, will demand a varied marketing program; Social, cultural, economic, political and governmental constrains. As a result, the company will incur more expenses and resources. Threat of substitutes is very high. People can easily substitute Pepsi with other drinks. Strategic recommendations to the firm based on your SWOT analysis Since PepsiCo has availability of high free cash flow (strength), I would recommend that PepsiCo opts for Acquisition and Alliance (Opportunity) to increase its market share thus to take over its rivalry (threat) Due to the threat of health campaigns (threat), PepsiCo should increase its product line (opportunity) I would recommend that PepsiCo increases its EPS and increase PepsiCos stock price, by: Increasing Income Decrease amount of outstanding stock B. Company strategy analysis 1. Mission Statement/Strategic intent/Vision Mission statement: Our mission is to be the worlds premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity (PepsiCo Inc., 2009) Reproduced Mission statement: PepsiCo aims to be the worlds number one foods and beverages producer. It mainly focuses on providing money for its investors as well as enhancing the market with jobs and opportunities for growth. PepsiCo try their best to be honest, fair and truthful in all of their operations. Critique: The mission statement relatively reflects the core values of PepsiCo. It specifically describes its goals and objectives. It also sets guidelines for the activities and operations that need to be accomplished in order to meet the company prospects aims. Vision: PepsiCos responsibility is to continually improve all aspects of the world in which we operate environment, social, economic creating a better tomorrow than today. Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making PepsiCo a truly sustainable company. (PepsiCo Inc., 2009) Reproduced Vision: Operate by creating a better future sustainable environment. Critique: A vision is a statement that states what the firm will be in the future. Pepsis vision aims toward creating a future healthier, sustainable friendly environment. PepsiCo vision should be more specific to its goals and objectives in order for PepsiCo to be more productive in the future. It should be more creative and easy to adapt to new trends. The vision can help PepsiCo in controlling the future market. PepsiCo Generic Strategy: According to Michael Porter, there are two types of competitive advantages a firm an posses: A firm can either make the same products that its competitors do, but with a lower cost. Æ’Â   Cost Strategy OR A firm can differentiate its products from those offered by its competitors, either by offering better and more expensive products or by offering lower quality cheaper products Æ’Â   Differentiation Strategy. To gain a competitive advantage in the market, PepsiCo looked in its position in the industry. It engaged in cost leadership competitive strategy: Since PepsiCo is a large corporation, it can keep the prices of its products low through the massive production and economies of scale. They also can buy from suppliers in bulk at a discount and make use of the technology to lower the prices of the final products. Not to forget that the extensive distribution channels and the global existence of the firm are considered as important factors to reduce the price. Allocating the cost among the brands carried by PepsiCo, the proficiency in the development and production help PepsiCo achieving its cost leadership strategy. PepsiCo also vertically integrated. It has merged with Pepsi bottling group in order to reduce the cost of distribution. Additionally, the types of input or raw materials that are used in this industry are: sugar, bottles, cans, water, ink and plastic. Since these raw materials are not differentiated and are easily available in the market, PepsiCo can achieve economies of scale. By looking at the graph above we can learn that by achieving economies of scale the firm will reduce its costs which will lead to lower prices of the final products. Although lower prices will result in having price war, which had already existed between PepsiCo and Coca-Cola and other firms in the CSD industry, it will still help the company in increasing its market share and to compete in the industry. Adapting the Cost leadership strategy had raised strong barriers for any new entrants to enter the market since it will be very hard to compete with a well-known brand that offers low prices. PepsiCos key resources that could lead to long term competitive: In order to stay ahead of the future and present competition, Pepsi has developed many attributes. It has constructed a business strategy that will allow it to outperform its competitors. Therefore PepsiCo has concentrated on few main resources that it believes will turn out as competitive advantages for the firm which will help it to goal superior performance in its industry. These competitive advantages are believed to be: Strong Brand Name Advertising: PepsiCo has the luxury to spend around 200 million dollars in this field, which allows it to reinforce the products. The strong advertising helps PepsiCo to introduce new products very quickly because it helps in improving the awareness level on the consumers about launching new products. PepsiCo logo/ being the 2nd leader of the market: PepsiCo is a very well-known brand not only because of products taste but also because of its logo and unique way of packaging. These all created what is called brand recognition. The unique blue and red symbol made PepsiCo very recognizable among people. Pepsi has spent 637 million dollar over the five past years on its marketing plan just to introduce the new rich deep blue packaging. This color represents the eternity of youthfulness and openness. Celebrity endorsement: Pepsi had used famous faces such as Britney Spears and Beyoncà © in advertising its products, which lead to attract more customers and increase the level of costumers preference. Although celebrity endorsement was a success but PepsiCo wont be using celebrities anymore as a step forward reducing its future cost. Extensive Distribution Channels / Location In Feb. 26, 2010 PepsiCo had merged with Pepsi Bottling group and PepsiAmerican which strengthening its distribution. It has local and global locations. PepsiCo has locations in 150 countries all around the world. Physical locations: PepsiCo soft drinks can be found in vending machines which are located in high traffic locations, schools, universities. PepsiCo reaches more consumers by also distributing its products to restaurants, department stores and grocery markets.

Dividend Payments Impact On Shareholders Wealth Finance Essay

Dividend Payments Impact On Shareholders Wealth Finance Essay Dividend  is a form of payment made to shareholders by an organization; Its a profit which is paid out to the company shareholders. When a profit is earned by the company, the profits are used again to invest for a better growth of the company for its future, or it can also be paid to the company shareholders in the form of dividends. Dividends are also paid to the shareholders in the form of cash or shares. The company must have sufficient funds in order to pay dividends to its shareholders. Dividends are generally paid out by a company only when the company make good profit and its been paid form its earnings. Dividend policy is of great interest n todays financial industries when the joint stock companies came into existences. Dividends can also be defined as a distribution of companys earnings which is decided by the board of directors to a class of its shareholders, dividend is also quoted as a percentage of the current market price. It is also known as dividend per share (DPS). Dividend can also be in a form of cash, stock or property. The level of dividends also depends on the companys dividend policy. Many large companies have a progressive dividend policy. They are usually paid after half year and full year financial results, even though some companies pay quarterly. There are various types of dividends which are as follows: Cash Dividend à ¢Ã¢â€š ¬Ã‚ ¢ Regular Cash Dividend, Special Cash Dividend, Stock Dividend Stock Repurchase Cash dividend: When a company pays dividend in the form of cash is known as cash dividend, cash dividends are generally paid four times a years to its shareholders. Such as Regular cash dividends and special cash dividends. THEORIES OF DIVIDEND POLICY: DIVIDEND RELEVANCE THEORY DIVIDEND IRRELEVANCE THEORY DIVIDEND RELEVANCE THEORY: This was a theory proposed by  Myron J. Gordon(1959)  and  John Linter(1956). Therefore, Dividend  relevance theory  suggests that investors are taking a risk generally  and would rather have  dividends today rather than share appreciation and dividends tomorrow. Myron J Gordon(1959) and John Lintner (1956) have also suggested that in the early sixties, investors see current dividends as less risky than future dividends and capital gains Dividend relevance theory also states that dividend policy effects the  share price of a company. Therefore, an optimal dividend policy should be determined which will ensure the better wealth of the shareholders. However some market participants state that there is some connection between share price and the dividend policy of a company. DIVIDEND IRRELEVACE THEORY: According to Modigliani and Miller (1961) the dividend policy is irrelevant to the share price of the company. The value of the firm is determined by the earning capacity of a company and not by its dividend decision. Modigliani and Miller (1961) pointed out that the investors who are rational may make the choice but maximise their utility, which are indifferent to receiving capital gains or dividend on their shares. The assumption of this theory states that: There are no transaction cost on the buying and selling of the shares Investors are having sufficient knowledge about the company Taxes are ignored Same interest rate would be available to investors According to the above assumption, the company which has good prospective with a positive NPV will have a good share price in the market. Dividend payment has impact on shareholders wealth: Arguments for and against of a cash dividend payout that would have an impact on the Market value of a company: Arguments in favour of the impact: Signalling effect: If a company pays dividend to its shareholders regularly, it conveys a message to its investors showing the current growth of the company and its future prospectus. Since company pays dividends regularly to its investors, they do not have any agency problem. Clientele Effect: There are two types of shareholders in the industry. One group who are accepting regular income as dividends for eg: Pensioners. The other group are the ones who are not expecting dividends, because they are interested in the future growth of the company by increasing the capital gain. Arguments against the impact: Tax effect: When shareholders receive income from dividends they have to pay tax which will affect their earnings. If the company pay high dividends to the investors, it would affect the earnings of the company. This would also reduce the cash flow of the company if it wants to make investments. Earnings: The market capitalization of the company depends upon the earning per share of the company and not on the dividend policy of the management. Investment: If the company pays all its earnings to the shareholders as dividend, they would not have sufficient reserves for future projects. Therefore the growth of the company is an important decision than the decision of the dividend. Liquidity: A company would not have any liquid cash left if it pays all earnings and profits to its investors. So liquidity is the main factor in a company as it would affect the business. Arguments for and against, whether a cash dividend is paid or not is irrelevant in the context of shareholder wealth maximization Arguments favoring the impact: The Net profit value (NPV) of a company plays a major role when dividends are given to its shareholders. Dividends would not necessarily be paid to its shareholders as destroying shareholders wealth in the real world is replaced with new set of shares. Retained earnings: If the company pays all the income to its shareholders as dividend, then the company would not have sufficient retain earnings to make investment in the profitable projects. If the company needs any funds for the future, it would borrow from sources like equity or debt markets which will increase the cost of the capital because the cost of external funds are comparatively higher than the cost of internal funds. Arguments Against the impact: Information content: If the company does not pay dividend regularly to its investors, shows a sign of negative signal to the capital market and hence the share price would also decrease in the market and would also affect the growth of the company. One of the major problems is the agency cost between the shareholder and the management. The shareholders generally expect a good growth of the company which would in turn give good dividend to the investors. But, the aim of the management is to grow the company in order to maximize the wealth and the power which may not be of interest to the shareholders. Arguments for and against weather dividend payments should be avoided, as they would lead to a decrease in shareholder wealth. Arguments favoring the impact of shareholders wealth: If the company does not pay dividends to its shareholders, the funds can be utilized for the future growth of the company. There would also be a dual benefit both to the company and the shareholder, where the shareholders may not need to pay an tax on dividend and for the company, they do not need to pay any transaction cost. There is also an argument to change the dividend policy from low to high payouts. Policy Formulation: In a company there is an administrative cost that is involved with the dividend policy which would in turn reduce the earnings of the company. Cost of capital: When a dividend payment is reduced, the external financing plays an important role in reducing the cost of capital of the firm. Due to this reduction of cost of capital, the value of the firm has increased because there is an relationship between cost of capital and the value of the firm. Arguments against the impact of shareholders wealth: If a company avoids dividend payment to its investors, shareholders would withdraw their investment that they have invested in the company and thus this would also have an negative impact on the shareholders wealth. Signalling effect: When a dividend payment is avoided there is an signalling effect which effects the growth of the company and will also have an impact on the share price and effect the shareholders wealth. FACTORS AFFECTING THE DIVIDEND POLICY OF A COMPANY: Stability of earnings: Companies which have regular income formulate regular dividend policy than those companies having an uneven flow of income. This can be easily know by the earnings of the company. Liquidity of Cash: The main factor in the dividend decision of a company depends on the cash flow. The higher the funds the company earns is better for the company in order to pay high dividends to the investors. In order to pay dividends the company needs funds and therefore the availability of cash will be the main factor of the dividend policy. Extent of shareholders: A company makes decision against the shareholders for the suspension of the dividend to its investors. On the other hand, a company having lots of shareholders are distributed forming high and low income group. This would also have difficulties in securing the assets, because of higher dividend. Taxation Policy: If a company pays high tax, not the earnings of the company would be affected but also the dividend would be decreased. Tax on dividends is waived by the government only up to a certain limit. This would in turn effect the capital growth of the company. Reduction in tax dividends reduces the value of all the tax payers. The capital gain tax is also likely to be below the shareholders tax rate. Shareholders may also prefer gapital gains to dividends. Directors resolve the conflict between the conflict of interest between the shareholders of a company. Past dividend rates: When the company pays dividend to its shareholders, it has to review the rate of dividend paid to the shareholders in the previous years, The dividend rate should be should be equal or more to the past dividend rate. Ability to Borrow: Only large firms and well established firms can borrow funds from the capital market and other external sources. These companies should have a good payout ratio. And smaller firms who are not well established rely on internal sources, and they would also have to build good reserves by reducing the payout ratio. Legal constraints: There were some constraints in the payment of dividends make by the UK government in the year 1960. There was some control in the payment of dividend. As a government measure, to overcome the anti inflation, but later in 1979, they removed these restrictions so the company must know the legal rules and the government policies before forming the dividend policy. Policy of Control: This is another main factor for the dividends. The control of the company is determined by the ordinary shares of the company. If the company wants to make investment they need funds. These funds should be obtained from equity capital, If they raise the equity capital, the new shareholders will invest in the company so the directors of the company have full control where they would not want to add any new shareholders to the company, and would announce a low dividend rate to its existing shareholders. The directors do not want to add new shareholders because they would not have any control and diversion on the policies of the management. Time for Payment of Dividend: Payment of dividends are planned in such a manner that there is no cash flow at the time of issuing dividends, as during the peak time of the company would require funds for urgent finances. Regularity and stability in Dividend Payment:   Companies maintain dividend equalization fund in order to pay regular dividends to its investors and also have a constant rate of dividends to most of its investors. Investment opportunity: While the board of directors make dividend policy decisions, they should consider if there is any profitable project or not. If there is a project in which they have to invest, then they have to announce a lower dividend to its shareholders. Opportunity to collect funds: The management should think about if there is any source to collect the required funds if needed at a cheaper cost, if not they should not announce more dividends to the shareholders. Growth: A growth of a company is one of the major factor and plays an important role when dividends are issued to its shareholders. Growth can be measured in sales, market share and the profit of a company. Conclusion: Dividend policy is concerned with level of dividends for the shareholders of a company. Thus from the above mentioned two theories, we can conclude the following: As per the opinion of Director A, dividend should be provided to the shareholders for the following reasons: Signalling effect: This conveys a message to its investors showing the current growth of the company and its future prospectus. Clientele Effect: If a company pays higher cash dividend to the shareholders, it gives more sign of chances about its future to its investors and the increase in dividends may lead directly to an increase in the companys share price in the market. As per the opinion of Director B, Dividend payment is irrelevant to shareholder maximization wealth for the following reasons. If the company pays all the income to its shareholders as dividend, then the company would not have sufficient retain earnings. If the company needs any funds for the future, it would borrow from sources like equity or debt markets which will increase the cost of the capital As per the opinion of the Director C, dividend payments should be avoided due to the following reasons. If the company does not pay dividends to its shareholders, the funds can be utilized for the future growth of the company. There would also be a dual benefit both to the company and the shareholder, where the shareholders may not need to pay an tax on dividend and for the company, they do not need to pay any transaction cost. Thus we conclude based on the managements views of a company on dividend payments and the effect on firm value. Because the dividend policy is a natural consequence of dividend theory being applied, the conclusions to this are categorised under the dividend policies, such as the managed dividend policy, and also there is a consequence of the relevant dividend theory and the residual dividend policy, a consequence of the irrelevant dividend theory.

Bats :: essays research papers

INTRODUCTION There is an abundant amount of animal species in the world. They all have adapted and evolved to survive in their surroundings. Some have grown fins, others legs, and still others wings. One of the animals that has grown wings is the bat. The bat is a truly great creature. It has all the characteristics of mammals while also possessing the skill of a bird in flight. There are more than 800 species of bats in the world. They are of many different sizes, shapes, and lifestyles. They live all over the world and have drawn the curiosity of millions. Bats also have the unique feature of echolocation that it uses to catch insects. Though other mammals, like the flying squirrel seem to fly but actually glide, the bat is the only mammal that can truly fly (Lauber 1968). A Bat's Body Due to the great variety of species of bats some characteristics vary greatly, but the Little Brown Bat is a good example of a common bat. It has fur on the body, large naked ears, the rear legs have claws, a tail membrane, and it has the most distinguishing feature of a bat, wings (Lauber 1968). The upper arm of the bat is short while the forearm is very long (Fig. 1). The wrist is very small and from it comes the thumb and the four longer fingers. The thumb is short and used for climbing or walking. The fingers are long and thin. Interlocking the fingers is the wing. This arrangement of having the fingers in the wing gives the bat amazing flight maneuverability (Honders 1975). These bones look similar to a human hand. They are connected by rubbery skin to the bat's body enveloping all the fingers but the thumb (Anonymous 1990). Echolocation Bats have a "sixth sense" called echolocation. This was first proved by Donald Griffin. Bats produce ultrasonic sound waves and then use the echo of the returning sound to sense the world around them and in particularly to catch insects. These sounds are usually out of the humans range of hearing (Fellman 1993). This system is similar to that of dolphins. The sound is in the form of clicks that increase as the bat gets closer to the insect or whatever it is tracking (Anonymous 1990). Unlike humans, most insects can hear the bat's echolocation sounds. David D. Yager of the University of Maryland has found that the praying mantis has used this to its advantage.

Self-discovery in Siddhartha Essay -- Hesse Siddhartha Essays

Self-discovery in Siddhartha Siddhartha, the novel by Hermann Hesse is what can be included as one of the epitomes of allegorical literature. This wondrous novel is focused on the tribulations of Siddhartha through his quest for inner peace. He started out as a young Brahmin's son always thirsting for more intellect and perspective in his life and from there on he endured many transitions. Siddhartha let himself experience all forms of life in his society. He unhesitatingly learned more about how different people lived by stepping into their shoes. He gained the vast varieties of intellect and perspective that he had longed for through his diversity, and he shrewdly applied it to compose his accurate philosophies of everyday life. Siddhartha's character exemplifies the insatiable feeling that everybody harbors. He stood for a unity of individuals. He stood for their thirst, and most importantly he stood for their ultimate quench; He stood for the insatiable feelings that all people have and need to eventually fill. As the Brahmin's son, Siddhartha could not contain himself. He was restless and felt that he had learned all he had to learn amongst his elders, and he was right. He chose to follow another path in life, a path that would show him another part of how people in his world lived. Siddhartha did not allow himself to stick to something that he could not feel to be right, thus he could not stay and worship the gods his father worshipped. He, as disconte... ...the same time, which all continually changed and renewed themselves and which were yet all Siddhartha... He saw the naked bodies of men and women in the postures and transports of passionate love...He saw all these forms and faces in a thousand relationships to each other, all helping each other, loving, hating and destroying each other and become newly born..." (p121) Siddhartha not only experienced them but he overcame them so well that he eventually achieved a great peace inside of him. He was an example for people to follow through the rigorous course of self discovery.

Nationwide Public Health Care in US: The Argument

The right to preserve the mental and physical well-being of a person is inherent to his right to live.   All over the world, this right has been protected and established as one of the basic human rights.   However, there is a disparity among nations on how it is enforced, with most of the developed world having a universal health care system provided to everyone regardless of their ability to pay (Healthcare, par. 2).   The United States is one of those countries in the developed world which does not have a national healthcare system, but rather, healthcare is provided by many separate legal entities (Healthcare in the United States, par. 1). Many critics of the system have described it as inefficient and ineffective. According to the Physicians for a National Health Program (PNHP), the current U.S. healthcare system is â€Å"outrageously expensive, yet inadequate.† (Single-Payer National Health Insurance, par. 2)   The U.S. spends more than twice as much as other developed nations at $7,129 per capita, yet it only ranks 37th out of 191 countries according to its healthcare performance in a World Health Organization (WHO) report in 2000. Where is all the money going to?   The U.S. system is a mixed system where private and public insurers coexist.   Still, according to PNHP, private insurers waste healthcare dollars on things not involving care: â€Å"overhead, underwriting, billing, sales and marketing departments as well as huge profits and exorbitant executive pay.†   Additionally, doctors and hospitals must maintain administrative staff to deal with the bureaucracy.   Combined, this accounts for 31 percent of American's health dollars (Single-Payer National Health Insurance, par. 3) Just by looking at the numbers it seems there should be no debate on establishing a national healthcare system in the U.S., but in fact the argument rages on in the halls of national politics.   There are still several criticisms against a national health care program, mostly stemming from the fact that Americans, by and large, have a tradition of capitalism and for-profit enterprises have most of the time had their way. Cited criticisms include the old adage that introducing the free market into anything, including healthcare, will drive prices and costs down. In fact, the opposite is currently proving true.   The excess payments for care in private for-profit institutions were substantial: 19%. (Himmelstein and Woolhandler, 1814).   The standard â€Å"free market† and does not apply to the healthcare system, where competition is often absent in some areas, and where the average person is very much in the dark on evaluating the â€Å"product† of healthcare.   Add to it the unique inefficiency of the U.S. government insuring 27.3% of the population and so we have them paying these for-profit hospitals a premium on what they could do much more efficiently themselves. Likewise, private insurance have to pay significant overhead, with these costs trickling down to the individual consumer.   Under a single payer system, it is estimated that the overall savings in paperwork would amount to more than $350 billion a year, enough to provide comprehensive coverage to everyone without paying more than we actually do. (Single-Payer National Health Insurance, par. 4) In my case, this mix of private and public insurance makes me and my spouse concerned over our future rates.   Both of us are self-employed, and so have to purchase private health insurance coverage for us and for our two children.   Instead of a nationwide security system that would protect us from the costs of rising rates, I am faced with the fear that, if we make too many claims, our rates could potentially skyrocket that we could no longer afford to carry it. As compared to a country like France, which has the best healthcare in the world according to the WHO (WHO Assesses, par. 1), we are wallowing in a system that is grossly inefficient, especially considering the huge cost we pay for our health compared to these nations.   The existence of organizations like the PNHP shows that there is widespread support among physicians in the country for a universal healthcare system that will protect the right of every American to live his or her life to the fullest.   Implementing a single-payer healthcare system would not only mean better health services for Americans, it will also drive down costs (How Much would a Single-Payer System Cost, par. 1), saving money for the government, and ultimately saving our own money. R E F E R E N C E â€Å"Single-Payer National Health Insurance†. Physicians for a National Health Program. 2006. 12 June 2007. ; http://www.pnhp.org/facts/single_payer_resources.php; Introduction: How Much Would a Single-Payer System Cost?†. Physicians for a National Health Program. 2006. 12 June 2007. < http://www.pnhp.org/single_payer_resources/ introduction_how_much_would_a_singlepayer_system_cost.php> â€Å"Healthcare.† Wikipedia the Free Encyclopedia. 12 June 2007. â€Å"Healthcare in the United States.† Wikipedia, the Free Encyclopedia. 12 June 2007. < http://en.wikipedia.org/wiki/Health_care_in_the_United_States> Himmelstein, David and Woolhandler, Steffie. â€Å"The High Costs of For-Profit Care.† Canadian Medical Association Journal. 8 June 2004. 1814-1815.

Mark Antony’s Speech

How does Mark Antony persuade the crowd to reject the conspirators in Act III. 3 of Shakespeare’s Julius Caesar? During Mark Antony’s compelling speech, he uses various techniques to convince the crowd that the conspirators are murderers not legends. Because the plebians were easily swayed, Mark Antony had this opportunity. To make sure the crowd took his points seriously, Mark Antony has to appear fair and wise. He knows that the plebians are strongly in favour of Brutus, as Brutus has just given them a speech, so if he starts by accusing Brutus, no one would listen to him.Therefore, at the beginning of his speech, Mark Antony was saying that Brutus was â€Å"noble† and â€Å"honourable†. Mark Antony approaches the crowd discernibly. As his arguments grow stronger, the crowds begin to realize that Brutus and the conspirators are wrong. Every time he calls the conspirators â€Å"honourable†, it becomes more ironic and sarcastic and the people start believing it less. To oppose Brutus' claim that Caesar was a heartless tyrant Antony recounts â€Å"how dearly he loved Brutus.Also, Antony humbles himself as â€Å"no orator, as Brutus is† hinting that Brutus used trickery in his speech to deceive the crowd. After that Antony reveals to the crowd Caesar's will, in which â€Å"To every Roman citizen he gives, to every several man seventy-five drachmas† as well as land. He then asks the crowd, â€Å"Here was a Caesar, when comes such another? † which questions the conspirators ability to lead. Finally, Antony releases the crowd and utters, â€Å"Now let it work. Mischief, thou art afoot. Take thou course thou wilt. After this the crowd riots and searches out the traitors in an attempt to kill them. Mark Antony shows that Caesar was compassionate and that he had a big impact on Antony’s life that he can never forget Caesar: â€Å"My heart is in the coffin there with Caesar. † He claims that they ar e so close that whenever one hurts, the other does too. He starts crying and the crowd understands what he’s going through and we can see this when one plebian says, â€Å"Poor soul, his eyes are red as fire with weeping. † Antony then teases the crowd with Caesar's will, which the beg him to read, but he refuses.Antony tells the crowd to â€Å"have patience† and expresses his feeling that he will â€Å"wrong the honourable men whose daggers have stabbed Caesar† if he is to read the will. The crowd yells out â€Å"they were traitors. â€Å"Honourable men† and have at this time completely turned against the conspirators and are inflamed about Caesar’s death. Even though in his speech Antony never directly calls the conspirators traitors, he is able to call them â€Å"honourable† in a sarcastic manner that the crowd is able to understand.He starts out by pointing out that Caesar had refused the crown three times, which refutes the cons pirator’s main cause for killing Caesar. He reminds them of Caesar's kindness and love for all, proving Caesar as innocent. Next he teases them with the will until they demand he read it, and he reveals Caesar's ‘gift' to the citizens. Finally, Mark Antony, leaves them with the question was there ever a greater one than Caesar, which infuriates the crowd. Mark Antony is able to eloquently manipulate the crowd through remarkable rhetoric skills and turn them against the â€Å"honourable men†.