Strategic Review2015-2020Prepared by XYZ Consultants.docxcpatriciarpatricia
Strategic Review
2015-2020
Prepared by XYZ Consultants
Version 1.0
20 September 2016
Table of Contents
1 About FitLife 1
1.1 Background 1
1.2 Mission, Vision and Values 1
2 Goals and Objectives 2
2.1 Goals 2
2.2 General Objectives 2
2.3 Proposed Marketing objectives 2
3 Situation Analysis 3
3.1 SWOT Analysis 3
3.2 Product Portfolio – BCG Boston Matrix 4
3.3 PEST/STEEP Analysis 5
3.4 Trend Analysis 6
4. Competitor Analysis 8
5 Key Statistics 14
6 Financials 16
References 18
Introduction
The health and wellbeing industry is a dynamic sector and plays a critical role in the Australian economy. The industry has grown substantially within the last decade, generating $2.2billion revenue on an annual basis (with 3.5% annual growth rate) through 3265 health clubs housing 32,875 employment opportunities across the country. The industry also plays a key role in improving the health and fitness of Australians.
An evaluation of the company’s internal strengths and weaknesses, external opportunities and threats, market trend analysis, and macro environment study established a groundwork to prepare this strategic review.1 About FitLife1.1 Background
FitLife is a privately-owned Sydney based Australian health club chain with 70 health clubs and 182,000 active members in Australia. FitLife serves as one of the industry leaders in the sport and fitness segment providing multi-purpose fitness venues across the country providing state of the art facilities, equipment and services.
FitLife has its base of operations in North Sydney (Health Club and Head Office), Sydney and operates in each state:
State
Total Health Clubs
Total Members
NSW
38
98,800
QLD
10
26,000
VIC
9
23,400
SA
4
10,400
ACT
3
7,800
WA
3
7,800
TAS
2
5,200
NT
1
2,600
Grand Total
70
182,000
Each health club offers the following facilities and services:
· Gym for weightlifting and cardio
· Gymnastics room (martial arts, boxing and kendo)
· Classes (Pilates, Yoga, BodyPump, Cycle, BodyAttack, Full Body Lift, and FatBurner).1.2 Mission, Vision and Values
The mission, in engagement with the community, is to provide innovative health clubs delivering cutting-edge fitness and lifestyle programs that will motivate people of all ages, backgrounds and abilities to lead active, healthy lives.
The vision is to be regarded as a premier provider of quality fitness, gymnastics and wellness through innovative programs and services that result in measurable and transformational changes in the lives of those they serve.
FitLife are passionate for promoting the quality of life for everyone on the basis of the following values and attitudes in all of their staff, members and the community:
Quality
Accountability
Energy
Mutual Respect
Diversity
Enthusiasm
Integrity
Accountability
Care
Honesty
Responsibility
Professionalism
2 Goals and Objectives
Due to its healthy outlook, the Executive Management would like to allocate a total of $1,061,059 budget to market research and then devel.
This survey reveals that Quality of Life—of employees, patients or students—is more than a passing trend. In all of the countries and sectors surveyed, it represents a new frontier of performance.
BST filed its Form 1-A for a tier 2 Reg. A Offering to commercialize its patented minimally invasive treatment of obesity, metabolic syndrome and type 2 diabetes.
Strategic Review2015-2020Prepared by XYZ Consultants.docxcpatriciarpatricia
Strategic Review
2015-2020
Prepared by XYZ Consultants
Version 1.0
20 September 2016
Table of Contents
1 About FitLife 1
1.1 Background 1
1.2 Mission, Vision and Values 1
2 Goals and Objectives 2
2.1 Goals 2
2.2 General Objectives 2
2.3 Proposed Marketing objectives 2
3 Situation Analysis 3
3.1 SWOT Analysis 3
3.2 Product Portfolio – BCG Boston Matrix 4
3.3 PEST/STEEP Analysis 5
3.4 Trend Analysis 6
4. Competitor Analysis 8
5 Key Statistics 14
6 Financials 16
References 18
Introduction
The health and wellbeing industry is a dynamic sector and plays a critical role in the Australian economy. The industry has grown substantially within the last decade, generating $2.2billion revenue on an annual basis (with 3.5% annual growth rate) through 3265 health clubs housing 32,875 employment opportunities across the country. The industry also plays a key role in improving the health and fitness of Australians.
An evaluation of the company’s internal strengths and weaknesses, external opportunities and threats, market trend analysis, and macro environment study established a groundwork to prepare this strategic review.1 About FitLife1.1 Background
FitLife is a privately-owned Sydney based Australian health club chain with 70 health clubs and 182,000 active members in Australia. FitLife serves as one of the industry leaders in the sport and fitness segment providing multi-purpose fitness venues across the country providing state of the art facilities, equipment and services.
FitLife has its base of operations in North Sydney (Health Club and Head Office), Sydney and operates in each state:
State
Total Health Clubs
Total Members
NSW
38
98,800
QLD
10
26,000
VIC
9
23,400
SA
4
10,400
ACT
3
7,800
WA
3
7,800
TAS
2
5,200
NT
1
2,600
Grand Total
70
182,000
Each health club offers the following facilities and services:
· Gym for weightlifting and cardio
· Gymnastics room (martial arts, boxing and kendo)
· Classes (Pilates, Yoga, BodyPump, Cycle, BodyAttack, Full Body Lift, and FatBurner).1.2 Mission, Vision and Values
The mission, in engagement with the community, is to provide innovative health clubs delivering cutting-edge fitness and lifestyle programs that will motivate people of all ages, backgrounds and abilities to lead active, healthy lives.
The vision is to be regarded as a premier provider of quality fitness, gymnastics and wellness through innovative programs and services that result in measurable and transformational changes in the lives of those they serve.
FitLife are passionate for promoting the quality of life for everyone on the basis of the following values and attitudes in all of their staff, members and the community:
Quality
Accountability
Energy
Mutual Respect
Diversity
Enthusiasm
Integrity
Accountability
Care
Honesty
Responsibility
Professionalism
2 Goals and Objectives
Due to its healthy outlook, the Executive Management would like to allocate a total of $1,061,059 budget to market research and then devel.
This survey reveals that Quality of Life—of employees, patients or students—is more than a passing trend. In all of the countries and sectors surveyed, it represents a new frontier of performance.
BST filed its Form 1-A for a tier 2 Reg. A Offering to commercialize its patented minimally invasive treatment of obesity, metabolic syndrome and type 2 diabetes.
Changing Behaviours for a Healthier Workforce in Singapore AIA Singapore
Mr. Sim Beng Khoon, Director, Workplace Health and Outreach Division, Health Promotion Board (HPB), talked about how changing behaviours can lead to a healthier workforce at the recent AIA Vitality Summit 2017.
10 Best Companies in Nutraceutical Market 2022.pdfinsightscare
Insights Care mapped the journey of prominent organizations that are reshaping the future of the healthcare industry through its latest edition, “10 Best Companies in Nutraceutical Market 2022.”
Strategic Recommendations for Janssen PharmaceuticalsMichael Diaz
While working with the Hult Impact Challenge, we were tasked with Identifying and commercializing the most promising and highest value solution to intercept gestational diabetes (GDM), under the direction of the Disease Interception Accelerator of Janssen Research and Development, LLC.
Dispelling the Myth of Corporate Health and Wellness ProgrammesThe HR Observer
Corporate wellness programmes can stimulate and invigorate staff mentally and physically through a series of scientifically proven challenges and obstacles. This session will discuss the differences between corporate health and wellness programmes and present the major components of such programmes from a best practice perspective. Mohit will showcase how to qualify and work with providers to deliver your programmes and the regulatory framework that is required to make these programmes successful.
Mohit Sahni, Manager- Product Management, Daman
Missing pointsAnalyzes the transportation strategy of the comIlonaThornburg83
Missing points:
Analyzes the transportation strategy of the company using examples of the various transportation modes to support the effectiveness of moving products from factories to customers.
Explain: you were able to elaborate on basic transportation, leaving behind inventory and distribution. You need to explain the transportation strategy of the company, which is directly related to their agreements with carriers, and the processes stemming from S&Op..
Analyzes the global challenges that the company faces in its supply chain and discusses risks and associated strategies to minimize the risks.
Explain: it is important to take into account one important factor describing the economic and political factors that can impact the company’s transportation network. Some of these factors are customs, trade compliance and bottleneck in the supply chain. Also, do not forget competitors such as Walmart, Target and Aibaba. Please further explain "market flux" and the risks associated with it.
Analyzes the economic and political factors that can impact the company’s transportation network and relates to future improvements.
Explain: mportant to describe the role of demand forecasting plays in the organization's supply chain strategy including S&Op, and how large is the impact on inventories and the lead time of the supply chain.
Analyzes the role demand forecasting plays in the company's supply chain strategy and supports the analysis with ways to manage challenges of forecasting in times of uncertainty.
Explain: you described the role demand forecasting and missed out on what is the impact in company's supply chain strategy and does not explain its significance or impact. Important to analyze the role demand forecasting plays in the company's supply chain strategy and supports the analysis with ways to manage challenges of forecasting in times of uncertainty.
Analyzes how pricing promotions are used to change demand through relevant examples that demonstrate this strategy.
Explain: you somewhat explained how pricing promotions (such as free shipping) are used, but does not connect the explanation to change demand.
WHOLE FOODS, whole people
Whole Foods Market is the largest natural food retailer in the world with more than 360 stores and approximately $12 billion in annual sales. With operations located primarily in the United States and also in Canada and the United Kingdom, Whole Foods sells natural and organic food products that include produce, meat, poultry, seafood, grocery products, baked and prepared goods, many drinks such as beer and wine, cheese, floral products, and pet products. The origin of the company dates to 1978 when John Mackey and his girlfriend used $45,000 in borrowed funds to start a small natural food store then named SaferWay. The store was located in Austin, Texas. John and his girlfriend lived in the space over the store (without a shower) because they were “kicked out” of their apartment for storing food pr ...
Changing Behaviours for a Healthier Workforce in Singapore AIA Singapore
Mr. Sim Beng Khoon, Director, Workplace Health and Outreach Division, Health Promotion Board (HPB), talked about how changing behaviours can lead to a healthier workforce at the recent AIA Vitality Summit 2017.
10 Best Companies in Nutraceutical Market 2022.pdfinsightscare
Insights Care mapped the journey of prominent organizations that are reshaping the future of the healthcare industry through its latest edition, “10 Best Companies in Nutraceutical Market 2022.”
Strategic Recommendations for Janssen PharmaceuticalsMichael Diaz
While working with the Hult Impact Challenge, we were tasked with Identifying and commercializing the most promising and highest value solution to intercept gestational diabetes (GDM), under the direction of the Disease Interception Accelerator of Janssen Research and Development, LLC.
Dispelling the Myth of Corporate Health and Wellness ProgrammesThe HR Observer
Corporate wellness programmes can stimulate and invigorate staff mentally and physically through a series of scientifically proven challenges and obstacles. This session will discuss the differences between corporate health and wellness programmes and present the major components of such programmes from a best practice perspective. Mohit will showcase how to qualify and work with providers to deliver your programmes and the regulatory framework that is required to make these programmes successful.
Mohit Sahni, Manager- Product Management, Daman
Missing pointsAnalyzes the transportation strategy of the comIlonaThornburg83
Missing points:
Analyzes the transportation strategy of the company using examples of the various transportation modes to support the effectiveness of moving products from factories to customers.
Explain: you were able to elaborate on basic transportation, leaving behind inventory and distribution. You need to explain the transportation strategy of the company, which is directly related to their agreements with carriers, and the processes stemming from S&Op..
Analyzes the global challenges that the company faces in its supply chain and discusses risks and associated strategies to minimize the risks.
Explain: it is important to take into account one important factor describing the economic and political factors that can impact the company’s transportation network. Some of these factors are customs, trade compliance and bottleneck in the supply chain. Also, do not forget competitors such as Walmart, Target and Aibaba. Please further explain "market flux" and the risks associated with it.
Analyzes the economic and political factors that can impact the company’s transportation network and relates to future improvements.
Explain: mportant to describe the role of demand forecasting plays in the organization's supply chain strategy including S&Op, and how large is the impact on inventories and the lead time of the supply chain.
Analyzes the role demand forecasting plays in the company's supply chain strategy and supports the analysis with ways to manage challenges of forecasting in times of uncertainty.
Explain: you described the role demand forecasting and missed out on what is the impact in company's supply chain strategy and does not explain its significance or impact. Important to analyze the role demand forecasting plays in the company's supply chain strategy and supports the analysis with ways to manage challenges of forecasting in times of uncertainty.
Analyzes how pricing promotions are used to change demand through relevant examples that demonstrate this strategy.
Explain: you somewhat explained how pricing promotions (such as free shipping) are used, but does not connect the explanation to change demand.
WHOLE FOODS, whole people
Whole Foods Market is the largest natural food retailer in the world with more than 360 stores and approximately $12 billion in annual sales. With operations located primarily in the United States and also in Canada and the United Kingdom, Whole Foods sells natural and organic food products that include produce, meat, poultry, seafood, grocery products, baked and prepared goods, many drinks such as beer and wine, cheese, floral products, and pet products. The origin of the company dates to 1978 when John Mackey and his girlfriend used $45,000 in borrowed funds to start a small natural food store then named SaferWay. The store was located in Austin, Texas. John and his girlfriend lived in the space over the store (without a shower) because they were “kicked out” of their apartment for storing food pr ...
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Mba semester - 4th- gujarat technological university
1. SeatNo.:________ EnrolmentNo.___________
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GUJARAT TECHNOLOGICAL UNIVERSITY
MBA - SEMESTER–IV • EXAMINATION–SUMMER • 2014
Subject Code:2840003 Date:21-05-2014
Subject Name:Business Ethics andCorporate Governance (BE&CG)
Time: 10.30 am - 13.30 pm Total Marks:70
Instructions:
1. Attempt all questions.
2. Make suitable assumptionswherevernecessary.
3. Figuresto the right indicate full marks.
Q.1 (a) Ethisphere Institute,USA hasrecently publishedarankingof World’smostethical 07 companies.
Out of 144 companiesfrom41 industries,all overthe world,thereare twoIndiancompanies,Tata
PowerandWipro inthislist.Takingthisas a background,Discussthe importance of ethical practicesfor
businesscorporationsof today.Canbeingethical be agoodstrategyfora successful company?Justify
your answerwithrelevantexamples.
(b) Define corporate governance.Discussthe nature,evolutionandmechanismof 07corporate
governance practicesinthe businessworld.
Q.2 (a) 1. BrieflyexplainKohlberg’ssix stagesof Moral Development 03
2. Write a brief note onRecommendationsof the NarayanamurthyCommittee report 04
on Corporate Governance.
(b) Discusswithexamples,the Corporate Governance practicesinUS,Germanyand 07 Japan,
outliningsimilaritiesaswell asdifferencesamongthem
OR
(b) Explainthe salientfeaturesof Corporate Governance practices inIndia 07
Q.3 (a) Explainthe meaningandobjectivesof Corporate Social Reporting.How doesithelp 07
inimprovinggovernance of companies?
(b) 1. Discussthe use of Creative Accounting bycompaniesforfalsifyingdataand 03
cheatingshareholders.
2. List some of the importantrecommendationsof the GangulyCommittee report 04
for improvingCorporate GovernanceinBanks.
OR
Q.3 (a) Define Whistleblowing.UnderwhatconditionsisWhistleblowingjustified?Discuss 07
WhistleblowinganditseffectonTrustinan organisational context.
(b) 1. Brieflylistandexplainthe stepsinEthical DecisionMaking 03
2. What isa twotierboard structure?How doesit affectCorporate Governance in 04
companies?
Q.4 (a) How are IndependentDirectorsinthe Board,differentfromotherDirectors?Discuss 07
the role of IndependentDirectorsinensuringgoodCorporate Governance.
(b) The collapse of the WorldCom, Tycoand Enron inUS ledtoan importantpiece of 07
legislationwhichhasdrasticallychangedlawsrelatedtocorporate governance inUS
2. and all overthe world.Listand explainsome of the importantfeaturesof thisAct.
OR
Q.4 (a) What are the mainrequirementsof the revisedClause 49of the ListingAgreementas 07
givenbySEBI forensuringgoodCorporate Governance
(b) List andexplainthe importantBoardsubcommitteesandtheirrole ineffective 07Corporate
Governance.
1
3. Q.5 (a) Readthe followingcase andanswerthe questionsbelow it.
SandozNutritionCorporation is a subsidiary of the Swiss pharmaceutical giant, Sandoz Ltd.
Sandoz,basedin Minneapolis, Minnesota, began manufacturing Optifast 70, a liquid meal-
replacement weight loss program in 1976. The six month program is designed for people
who are at least 30 percent or 50 pounds over their ideal weight. Health problems often
accompanyexcessive weight.Optifastprovides an opportunity to get rid of the weight fast.
The Optifast program is only available through doctors, hospitals, and medical clinics; a
prescriptionisrequiredtopurchase the products.The Optifastprogramtypicallybeginswith
the patient being placed on 420 to 800 calorie diet per day of liquid protein for 12 to 16
weeks.Calorie intake isthenincreasedto1000 or 1200 caloriesperday forthe remainderof
the program. The total cost is between $1400 and $2800.
Optifast sales grew slowly following its introduction as the medical community and
consumers became aware of the program. Sales continued to build slowly until mid
November1988. Then Oprah Winfrey announced on her TV talk show that she had lost 67
pounds using Optifast. She appeared on the program in size 10 jeans to prove her point.
Here was a celebrity endorsing Optifast without being asked for or paid! Within hours
Sandoz received more than 200,000 phone inquires about the Optifast diet program.
The firmdoesnot publishsalesfigures,buttheyforecastedasales increase of from 25 to 30
percent during the six weeks following Oprah’s announcement.
In 1989 Sandoz launched a print advertisement program, mostly in professional
journals. Its promotional brochure and ad claims included: (1) “ The one that’s
clinicallyprovensafe andeffective”and(2) “You can call the Optifastprogramtoday,
and have all youneedto control yourweightforthe restof your life.”
Unfortunatelyfor Oprah, she regained 17 pounds during the first year after she
completedthe Optifastprogram.Studiesatthe Universityof Pennsylvaniasuggested
that people whoundertakequickweightlossprogramssuchasliquiddietsare likelyto
experience weightrebounds.Studiesatthe Universityof Michiganindicatedthatas
manyas 90 percentof dietersregainweightwithinfiveyearsafterlosingit.Liquid
dietshave alsobeenlinkedwithdizziness,headaches,nausea,gallbladderproblems,
and irregularheartbeat.Thus,there appearstobe some differencebetweenclaimsand
use experience.
1. Were any ethical normsor principlesviolatedbySandoz?
2. Are liquiddietproductsethical products?Justifyyouranswer
3. What moral responsibilitymightSandozhave consideredwhendevelopingits
promotionmessagesforthe customers?
OR
Q.5 (a) Discussthe conceptof Utilitarianismasa theoryof Ethics.List andexplainthe types and
limitationsof Utilitarianismwithrelevantexamples
(b) "There isone and onlyone social responsibilityof business---to increase its profits."-Milton
Friedman.Doyouagree withthe above statement?Justifyyouranswerwithrelevanttheory
and examples.
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04
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