Accounting History Essay Example

Bookkeeping History Essay Example Bookkeeping History Essay Bookkeeping History Essay A SHORT HISTORY OF ACCOUNTING AND BUSINESS The historical backdrop of bookkeeping is as old as human progress, among the most significant callings in monetary and social turn of events. Bookkeepers created composing, created cash and banking, advanced the twofold passage accounting framework that filled the Italian Renaissance, were required by Industrial Revolution creators and business people for endurance, built up the capital markets vital for huge business so basic for free enterprise, transformed into a calling that brought validity for complex strategic approaches that started the financial blast of the twentieth century, and are fundamental to the data transformation that is currently changing the worldwide economy. Twenty-first century bookkeeping will take after advanced science and will keep on being among the basic callings of the new century. Bookkeepers have not exceeded expectations in advertising, yet their story is entrancing. What's more, here it is. There are no commonly recognized names among the bookkeeping pioneers; truth be told, for all intents and purposes no names get by before the Italian Renaissance. It took archeologists to uncover the early history and researchers from numerous fields to exhibit the significance of bookkeeping to such a large number of parts of financial matters and culture. This book covers the incredible occasions. From shippers and copyists some time before composing and cash, to today’s worldwide data systems. Bookkeeping history is summed up in seven sections. An outline places bookkeeping in context. Here and there bookkeeping hasn’t changed since Luca Paciolli (father of present day bookkeeping) composed the primary reading material in 1494. Then again, bookkeeping has driven the data upset. Numerous parts of 21st century bookkeeping will be unrecognizable by today’s proficient pioneers. Understanding the job of budgetary needs today and later on requires a comprehension of the past. The job of bookkeeping in the old world is coming into more clear concentration with new archeological disclosures and inventive translations of the ancient rarities. It is presently clear that composing created over in any event 5,000 years-by bookkeepers. The jobs of exchange, cash, and credit additionally have long and complex chronicles. It is hard to overestimate the significance of twofold passage accounting. It was vital to the achievement of the Italian vendors, important to birth of the Renaissance. The Industrial Revolution relied upon innovators and business visionaries, not bookkeepers. It is the endurance of their organizations that necessary inventive bookkeeping and, later, the advancement of a calling. Huge business, especially the railways, required capital markets that relied upon exact and valuable data. This was provided by the extending bookkeeping calling. The soonest of the Big Eight began in mid-nineteenth century London. Turn of the century America saw the ascent of huge business, manageable in view of progress in cost bookkeeping. Be that as it may, the Crash of 1929 and the ensuing Great Depression exhibited issues with capital markets, strategic approaches, and, truly, impressive insufficiencies in bookkeeping rehearses. Numerous parts of current bookkeeping rehearses began with the surge of business guidelines from the Roosevelt organization. The most punctual electronic PCs were subsidized to help the World War II endeavors. By 1950 huge endeavors were started to robotize bookkeeping rehearses, a proceeding with process. A worldwide continuous incorporated framework is a close to the real world, recommending new bookkeeping standards supplanting twofold section and sound accounting standards. Why perused this book? What we do today in bookkeeping depends on a 10,000-year history. Understanding this history is important to grasping the linkages of bookkeeping to vocation potential, money related guideline, charge, bookkeeping frameworks, and the board choice issues. This history likewise is a useful asset to foresee the bookkeeping of the people to come. The dad and the principal trend-setter of bookkeeping is Luca Pacioli (1445 1517), otherwise called Friar Luca dal Borgo, is credited for the introduction of bookkeeping. His Summa de arithmetica, geometrica, proportioni et proportionalita (Summa on number juggling, geometry, extents and proportionality, Venice 1494), was a course book for use in the abbaco schools of northern Italy, where the children of vendors and specialists were instructed. It was an abridgment of the scientific information on his time, and incorporates the first printed portrayal of the strategy for keeping accounts that Venetian dealers utilized around then, known as the twofold passage bookkeeping framework. Despite the fact that Pacioli systematized as opposed to designed this framework, he is broadly viewed as the Father of Accounting. The framework he distributed included the vast majority of the bookkeeping cycle as we probably am aware it today. He portrayed the utilization of diaries and records, and cautioned that an individual ought not rest around evening time until the charges equalled the credits! His record had represents resources (counting receivables and inventories), liabilities, capital, salary, and costs - the record classifications that are accounted for on an associations monetary record and pay articulation, individually. He exhibited year-end shutting passages and recommended that a preliminary equalization be utilized to demonstrate a decent record. His treatise likewise addresses a wide scope of related subjects from bookkeeping morals to cost bookkeeping.

Impact Of Social Media On Business Commerce Essay

Effect Of Social Media On Business Commerce Essay Online life or at the end of the day New Media characterizes interpersonal interaction destinations like Facebook, Twitter, Flicker, Youtube alongside a lot more locales that draw in clients to take part in,comment on and make content as methods for speaking with their social group,other clients and public.It can happen through a computer(like workstations and netbooks),tablets(like iPads,iTouch and others) and versatile phones(smart phones).Social media in todays world has become a worldwide wonder. Online networking in todays world is a piece of any business, no organizations can sell there items without the assistance of internet based life since web-based social networking is a mass correspondence media which takes the detail of value and cost of the item to the customers. Subsequently online networking encourages the firm completely to get the benefit from the business . 1Agnihotri, Raj; Kothandaraman, Prabakar; Kashyap, Rajiv; Singh, Ramendra. (2012). effect of internet based life on business. Journal of Personal Selling Sales Management.â . 32 (16), p333-348. This article is extremely fascinating, it gives helpful data about the historical backdrop of internet based life and it clarifies how web based life impacts business. It has valuable data about the effect of social on business In various fields of business. I will utilize this source in my last exposition since it clarifies about various terms for instance deals the board, business insight, business arranging and some more. Besides, it clarifies how the organistaions accomplish objectives utilizing online networking. Its a quickest developing procedure in business associations which portrays an objective in an associations. Anyway web based life is a significant instrument which discloses how to keep up assignments in different fields like a sales rep to keep up a vocation in a superior manner to make a vocation esteem. This article is giving me various thoughts how the business is finished with the assistance of online networking. As should be obvious this article has the basic focuses about the internet based life showcasing methodologies, firms systems, business arranging and deals the board. Dave Ray . (2010). The Positive Effects of Social Media. Available: http://www.searchengineisland.com/2012/05/constructive outcomes of-web-based social networking online.html. Last got to 28th oct 2012. This site clarifies about the positive effect of online networking on business. It discloses how to utilize web based life for future online business whatever it might be, an item or advertising which will deliver you profit by the day's end. This site additionally gives data about how online networking has developed in the overall for the most part in business, as should be obvious these days no business runs without the assistance of web based life. Anyway utilizing this webpage for my last exposition will be increasingly valuable since it bring up how the business firms use organizing sites to stay in contact with clients, inspect the, and know there taste and inclination . Thusly this site is giving me various thoughts and it explains about various systems administration social and business situated interpersonal organization sites and it likewise illuminate how the organizations accomplish their objectives with the assistance of internet based life organizing sites ( for instance facebook, twitter and myspace) john souza. (2011).â social media highlights for a lift in business.Available: http://socialmediamarketinguniversity.com/10-musthave-web-based social networking highlights help business/. Last got to 28th oct 2012. I am accepting this site as my source since it gives me insight regarding online life highlights which encourages the organizations to improve their business. It represent about different web-based social networking sites like facebook, twitter, linkedin and youtube. For instance: facebook pages helps the endeavor in promoting their item on their pages which are preferred by numerous individuals and at whatever point a product is loved by a part it goes on his/her own profile hence the venture uninhibitedly publicized and it spares the expense of the ware. Just as in twitter, on the off chance that a record is moved up to proficient, at that point their will be numerous individuals to tweet you which implies more benefit for the firm. In this way I should utilize this source in my last paper since it characterizes web-based social networking in a superior manner and it shows how the business firms make their brands name famous and how they make they benefit by utilizing internet based life arrange pages . Catherine Lovering. (2010). Negative Effects of Social Media on Business. Available: http://smallbusiness.chron.com/negative-impacts web based life business-25682.html. Last got to 27th oct 2012 I am accepting this article as my hotspot for the last exposition , various articles clarifies various things as this clarifies me how web based life makes issues for business firms . In nowadays no organization can utilize negative items as they are seen by media, supposing that they do, media makes negative anecdotes about their items which makes a major issue for the organization and friends is plugged with the awful name in the market . Online life is a major piece of the business ,web-based social networking welcomes everybody to its locale representatives, works and customers . online life makes trouble for the organizations to state about their brands that are negative, since clients are straightforwardly welcome to media and they would remark on the brands that abusive . Subsequently, utilizing this article as a source in my last exposition will be increasingly useful then some other in light of the fact that it calls attention to many negative points about social middle negative effects on business and how can it makes issue for organizations like discussing unapproved laborers for associations sake. Rodriguez, Michael; Peterson, Robert M.; Krishnan, Vijaykumar. . (2012). effect of online life on business. Journal of Personal Selling Sales Management.â . 32 (14), p365-378. In this article Michael, Robert and vijay kumar has clarified how the online life impact business firms. As indicated by Neilson company(2010), web based life clients overall developed about 30 percent in 2010, from 244 million to almost 315 million clients. Research from Gartners customers innovation and markets bunches guage that worldwide spending via web-based networking media would add up to $14.9 billion in 2012(Gupta 2011) (content.ebscohost.com/ContentServer.asp?EbscoContent ) Consequently, as the utilization of online networking rises, the cost of the item additionally rises and the client who are called lord of the market will in general change to its substitutes of that ware which has the meriting cost as opposed to the product that is promote through methods for web based life. This article has talked about the negative effects of online networking which says that due to web based life numerous huge business firms loses its clients consistently for a wide range of reasons.

Learn All About the Evaluative Essay

Learn All About the Evaluative Essay What is an Evaluative Essay? Home›Research Posts›What is an Evaluative Essay? Research PostsThe success of your evaluative essay depends on how well you present your opinion and evidence to illustrate your point. The following writing tips will guide you through the process and help you familiarize yourself with all the crucial components of this type of essays. It’s Saturday night, and you are meeting your best friend Bernadette to watch a movie together. They are showing Love, Specifically and The Mountains Have Ears tonight. Both seem to be interesting. You feel like having a good laugh but your fried is more of a thriller fan. Now, you cannot choose between a romantic comedy and a suspense thriller, so you decide to call a friend of yours, Lucy, who has recently seen both of them. She says that you’d better go see Love, Specifically. You are pleased with her answer but Bernadette insists on a thriller. When asked what’s so special about Love, Specifically, Lucy says so mething like “Have no idea, just loved it.”Most probably, such a reply will be frustrating for you and your thriller-loving friend. Had Lucy learned the elements of a good evaluative essay, she would give a more informative and useful response. The thing is, writing an evaluative essay is similar to reviewing something. As you might have guessed from its name, an evaluative essay contains a value judgment. The basic components of an evaluative essay are:The judgment, your general opinion about the subject; The criteria, the justification of your opinion; Evidence. This is a crucial component which is needed to support your claims.Remember all those instances when you received a refusal of permission to do something without proper explanation? ‘Can I play with this dog?’ ‘No!’ ‘Why?’ ‘Because I’m your mother and I say so, that’s why!’ I hope you understand that ‘because I say so’ is not an argumentative reply. Neither is Lucy’s ‘just loved it.’ To ma ke your argument strong, you have to provide good reasons and reliable evidence. What Does Evaluative Essay Consist of? Evaluative essay is still an essay, so it should also include of the basic parts of an academic essay: introduction, background information and criteria (the body of an essay), and conclusion.Introduction plays a substantial role in your paper because it helps set the scene for the following discussion. This paragraph should contain a thesis statement, which is your basic claim, the reason for writing the paper at all. Without it, your evaluative essay will have no focus.Next, provide background information about what you are discussing. The reader has to know the subject, so be sure to provide a brief summary, description, explanation, etc. The background information has twofold purpose:helps the readers understand what you are discussing;helps you explain your purpose.If you think about it, you’ll understand that all movies have different purpose. While a thril ler would be more appropriate for people who like to spend an hour or two on the edge of their seats, romantic comedies are a better choice for those in the mood for laughing. This does not mean one film is better than the other; it’s just that you have to keep their purposes in mind and choose different approaches when evaluating them.

Abortion Is An Act Of Murder Essay - 1271 Words

Have you ever wondered where the beginning of your individual life began? Life is precious and not guaranteed, yet many individuals take it for granite. Visualize having your life ripped away from you without being allowed to say whether or not you want to live. This is how it is with unborn babies in their mother’s womb when the mothers decide to have an abortion. There is much controversy regarding abortion as a whole. Abortion is a procedure that terminates any pregnancy (Dictionary.com). When discussing abortion, some would say the beginning of life started once an infant took his or her first breath during delivery and others would say life began the second they were formed in its mother’s womb. Based on either viewpoint, is abortion considered an act of murder? A pro-abortionist considers life to begin once the mother has successfully delivered the child during birth. The nine months that the infant is in the mother’s womb, he or she is considered a fetus. An abortion to these particular individuals is not considered murder, but rather terminating a fetus (Walsh). A fetus is an unborn mammal or human being (Dictionary.com). So, if a fetus is considered a human being, then why is it not murder? The infant is a human being, but just has not been born yet? Some would say that abortion is necessary is some instances. For example, it would be okay if there were health concerns for either the unborn child or the mother during the pregnancy. If an individual does not want toShow MoreRelatedAbortion : An Act Of Population Reduction920 Words   |  4 PagesAbortion: Legalized Murder A resounding tune states that people make the world go around. It is understandable that old age, illnesses, accidents, wars, and many other disasters bring on reductions within the population. Yet, abortion as an act of population reduction is often a topic that many people would rather not discuss. Abortions account for 1.3 million deaths among unborn children yearly (â€Å"Abortion: Late-Term/Partial Birth 2). The purpose of this research is to argue that, with the exceptionRead MorePro Choice And Pro Life927 Words   |  4 Pageslegalization, death penalty, border fence, legalization of gay marriages and abortion. One topic that cannot be overlooked is abortion! Even Presidential candidates often use these controversial topics, such as abortion, to their advantage to encourage people to vote for them in the upcoming elections. Ultimately, when it comes to abortions, one has to deal with the fact that they are renouncing religious principles and committing murder. First, it is important to establish background information on the twoRead MorePro Choice And Pro Life922 Words   |  4 Pageslegalization, death penalty, border fence, legalization of gay marriages and abortion. One topic that cannot be overlooked is abortion! Even Presidential candidates often use these controversial topics, such as abortion, to their advantage to encourage people to vote for them in the upcoming elections. Ultimately, when it comes to abortions, one has to deal with the fact that they are renouncing religious principles and committing murder. First, it is important to establish background information on the twoRead MoreAbortion is a Murder Essay721 Words   |  3 Pageson-going subject that has been greatly debated in our society is abortion. Many people argue that because the baby in the mother’s womb is not alive, aborting him or her is not considered a murder. However, others say that as the baby’s heart and brain are the first things to develop, the ba by is technically alive and killing it would be a murder. As soon as the baby has a heartbeat, it has life. 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The experience was terrifying and all she wanted to do was forget about it, forget about him on top of her, making her do things that should only be done with someone she loves. The rape is finally over and he lets her go after making her promise not to tell. A few weeks after the rape she still hadn’t told, but started feeling woozy and nauseous in theRead MoreShould Abortion Be Legal Or Illegal?939 Words   |  4 Pagesof the more heated issues is abortion. Abortion has been around at almost every point in American history. Consequently, since the Supreme Court decision of Roe v. Wade there have been approximately 57,762,169 abortions in America (â€Å"Are You†). This raises the question of should abortion be legal or illegal, and is this immoral or moral to do? The decision to have an abortion can be a difficult time in a woman’s life, but is not a moral way to end a pre gnancy. Abortion in the United States should beRead MoreAbortion Should Be Legal?1512 Words   |  7 Pagesto dictionary.com, abortion is defined as â€Å"the removal of an embryo or fetus from the uterus in order to end a pregnancy†¦any of various surgical methods for terminating a pregnancy.† The famous well-known Supreme Court case that addresses the issue of abortion is Roe v. Wade. The Supreme Court concluded that women have the right to obtain an abortion until the fetus is viable, or usually when a woman reaches her trimester of pregnancy. Prior to the Supreme Court case, abortion was illegal in manyRead MoreArgumentative Essay On Abortion1077 Words   |  5 PagesAbortion has been one of the hottest debates for many years now. Abortion is the process of taking the life of an innocent unborn child resting harmlessly in their mothers womb. Abortion is known to be a sensitive topic, but like the conservative political commentator Ben Shapiro said, â€Å"Facts don t care about your feelings† (qtd. in Berrien). Pro-choice supporters deny the facts that abortion is wrong and disgusting. Abortion is an evil act and it should be made illegal. The most controversialRead MoreEssay about Using Utilitarianism to Address Abortion1286 Words   |  6 PagesIn this paper, I will be defining act utilitarianism and rule utilitarianism, use both standpoints from a rule utilitarian and an act utilitarian to decipher their responses to abortion, and investigate both claims to come to a conclusion if or if not utilitarianism is adequate enough argument to address abortion. First the definition of utilitarianism is, â€Å"An act is morally right if and only if it does more to improve overall happiness than any available alternative† (Farley). Overall happiness

Persuasive Speech on Education in Healthcare - 1099 Words

Persuasive Speech Topic: Why choosing health care as a career is a smart choice General Purpose: To persuade Specific Purpose: By the end of my speech, my audience should be able to: A. State why health care is a growing field. B. Make an informed decision when choosing a career in health care. Introduction I. Attention-Getting Device: How many students in college know what there career goals are? A. Many students go to college to appease their parents and don’t know what they want to do. B. Some students may pick a major and later find their career options limited or even worse find that their degree wont support them financially. II. Thesis: A career in the health care industry is a smart choice†¦show more content†¦In a report by payscale.com last updated 11-3-2011 the average pay for an elementary school teacher is 40,000 a year. Could you imagine have school loans for a bachelors degree and barley making 18 dollars an hour with no opportunity for making time and a half. B. In a report for accountants also by payscale.com last updated on 10-25-2011 the average pay range is between 33-56,000 a year. This pay range is with a bachelor’s degree. C. In a report by payscale.com for nursing careers. A Nurse with an associate’s degree that works at a hospital such as Doctors or Memorial makes an average of 80,000 a year. Because of the associates degree the nurse has less school loans then they would with a Bachelors. Conclusion I. Summary: Lets recap. A. Health care is the fastest growing industry; the baby boomers are retiring and need to be cared for. B. To work in health care does not mean you have to go to school for 10 years to become a doctor. You can earn your associates or bachelors degree and make a good living. C. All of these top majors require working with the public why not have a rewarding career where everyday you make a difference in the lives of others. II. Closing Device: I know that I cannot convince people to change majors. 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Attention getter: 20.1% as of the year 2010. 5 to 10 is the number of meals a child eats at school. The percentage of obese children in the US. The number is 4 times higher than 1970s. If you have been to elementary, middle or high school, at some time, you have been exposed to canteen food. II. Thesis:Read MoreThe Cuban Revolution Of Cuba1670 Words   |  7 Pagesover Cuba. Batista turned the Cuban capital of Havana into one of the largest gambling cities in the world. Batista reorganised the Cuba’s treasury so that political representatives and himself can take freely from the riches. Under Batista’s rule, education and health care wasn’t free to the general public. The Cuban public were not satisfied with Batista and how he was ruling Cuba, the people didn’t have a say in decisions in government, were treated unfairly with high taxes, selling/giving the peoplesRead MoreNew Dell Sonicpoint Series Enhances Wireless Network Security Solution994 Words   |  4 Pagesthe 802.11ac wireless standard, enabling retail point-of-sale businesses, schools and healthcare organizations to provide their employees, students and customers with high-speed wireless connectivity. This section reviews the history of Wireless Network Security Solutions, what changes have been made to the latest version and how Dell Software Group has made it beneficial for their customers/ investors. †¢ Education level: K-12 Schools and universities Wireless has become an imperative for virtuallyRead MoreMemorandum to the Future President of the United States1353 Words   |  6 Pagesinterviews and more to encourage a positive image of the president and his policies. 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This description coincides with Dahlgren and Whitehead’s Social Determinants of Health (1992) where the individual’s health is not only limited to medical factors but it is largely influenced by lifestyle – rootingRead MoreEveryone’S Had Their Own Go At How Labour And The Greens1458 Words   |  6 PagesEveryone’s had their own go at how Labour and the Greens can take back power, even with most of the economic, social, and political indicators going the governments’ way. There’s no education in the second kick of a bull. Or indeed the fourth kick, which by about 50-50 is where we are headed in 2017. Losing four terms in a row would suck. it would alter the landscape, in ways that the left would find hard to recover from for many, many years. And winning will not be determined on whether we areRead MoreDeveloping a Health Advocacy Program Essay examples3070 Words   |  13 Pageshealthy environments. 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Law Office Management Unit 5 Free Essays

PA305: Law Office Management Unit 5 Assignment ? Goals 1. Always be approachable 2. Always be responsive 3. We will write a custom essay sample on Law Office Management Unit 5 or any similar topic only for you Order Now Efficiency 4. Devote ourselves and our work to our clients 5. Dedication to the satisfaction to the satisfaction of our clients 6. Dedicated to the well-being of the client 7. Make sure all clients are happy 8. Develop a sophisticated system 9. All clients questions and concerns will be addressed in an organized and timely manner 10. Exceed expectations of the client 1. Supply donations and Pro Bono work each month. 12. Morally and ethically work to ensure justice is served for everyone. Mission Statement Crystal Jones is an innovative general practice firm, specializing in civil procedure and family law. Here you get a small town feel from a city firm; we will always be approachable, responsive, efficient and devoted to our clients. Our staff is dedicated to the satisfaction, well-being and happiness of each and every client. Technologically sophisticated systems, mean inquiries and concerns will always be addressed in an organized and timely manner. Crystal Jones is ever evolving, raising the bar for clients in the future. We promise to do our best to exceed all expectations of our clients, devoting ourselves to the issues at hand, until they are fully resolved. Our dedication does not stop at our clients; we are fully dedicated to our community supplying donations and Pro Bono work each month. At Crystal Jones we will morally and ethically work to ensure justice is served. How to cite Law Office Management Unit 5, Essays

Outsourcing Model of Drugs Development in The Pharmaceutical Industry

Qusestion: Describe the outsourcing model of drugs development in the pharmaceutical industry? Answer: Introduction In the field of pharmaceuticals, outsourcing can be defined as, the contracting or making a partnership model with a third party for related studies and services. The concept of outsourcing was not new, as it came from the general venture of business firms. In the present context of competitive marker and globalization of services and products, the objectives are linked with long-term goals (Higgins, Rodriguez, 2006, pp.351). In this context, focusing on third party for the services implies two peculiar advantages, viz. (i) do not require any critical strategies; (ii) do not need any special competency or capabilities. Talking particularly about the drug development, the outsourcing can be more or less linked with RD outsourcing and clinical development (jones, 2000, pp.341). Furthermore, before discussing the core concepts of outsourcing the drug development, it is also important to discuss that the term is subjected to be more competitive and challenging, similar to other subjects, such as resource planning, insourcing and marketing. Important considerations The key considerations with respect to outsourcing models of drug development in pharmaceutical industries can be made rebuttal with following points (Govender, 2007): When to make the outsourcing Vendor selection and criteria assumption according to the requirements Not to conflict with the in-house expertise and resources Deciding a cost-effective strategy for making outsourcing Recruitment of patient for making the control and variable studies Matching to the guidelines and policies of local, national and international regulatory and ethical classes Cost-effective strategies for outsourcing of drug models by pharmaceutical companies Some of the key considerations, which are pre-requisite for making the settings and assumptions of outsourcing, are discussed in this context. It is more for the companies to identify the cost-effective strategies as they can help in making the model studies fruitful, both according to organizational objective and cost-effective strategies of organization (Gupta, 2009, pp.219). Cross-checking whether the in-house resources and expertise are sufficient for execution of drug candidate studies and clinical services. To check the resources, with respect to requirement and availability. Identification and assessment with respect to the resource. It is necessary to analyze whether the resources are sufficient and optimal for the execution of the studies. Another important consideration is to analyze and cross check whether the in-house project for the same will be cost-effective. Time is also one of the crucial factors. Hence, the time-effectiveness of the work should also be analyzed. Current outsourcing relationships in pharmaceutical industries It is noteworthy to mention that the present report do not contains the figures of investment and reference of specific pharmaceutical firms. The reason being is the cost and the nature of projects (pilot-scale and major projects) differs according to the stages of drug developments (Kaplan Laing, 2005). The current practices of pharmaceutical firms are: Objective to adopt measurable goals and objectives Ensure the service and cost is beneficial for both the parties Mutual respect and partnership model where both parties can learn from each other Appropriate management system and documentation Tract and measure the performance at every stage of drug development or clinical study phases Involvement of both positive and negative feedback from both the ends Progress review, audit and monitoring of the each and every steps Definite communication skills and utilization of conflict resolution strategies Loyalty, confidentiality and appropriate authorization of the information Conclusive note The financial, scientific and appropriate protocol are the key considerations in the process of outsourcing for the drug development procedure in the pharmaceutical firms. Key benefits associated with the outsourcing process are (Lim, K. 2004, pp.287): Increased value of the stakeholders Competitive advantage Accurate resource management and time effective process Improved and organized focus on the core process Cost reduction Technical and scientific ad-hoc support is available to all quality and type of drug designing process. Increase in the regional and global capabilities Source: Goldman Sachs, PhRMA, EFPIA and authors estimates and analyses A general figure of the outsourcing revenue related information spanning from year 1999 to 2007 can be found from figure 1. It can be noted that the revenue being invested in the outsourcing is being increased in the year wise comparison of the global scenario. The outsourcing services can be linked with computation models (docking, high thoughput screening), cell line studies (various cancer cell line), genetic studies (preparing heat map, knock-out gene), animal model studies (mouse, monkey and other), human trials (volunteers individual and diseased individual) and various other techniques, models and experimental tools needed for the course of drug designing. References: GOVENDER, I. 2007. An analysis of the key drivers, decision making and strategic issues with respect to outsourcing in the SA pharmaceutical manufacturing industry. GUPTA, S., WOODSIDE, A., DUBELAAR, C., BRADMORE, D. 2009. Diffusing knowledge-based core competencies for leveraging innovation strategies: Modelling outsourcing to knowledge process organizations (KPOs) in pharmaceutical networks. Industrial Marketing Management, 38(2), 219-227. HIGGINS, M. J., RODRIGUEZ, D. 2006. The outsourcing of RD through acquisitions in the pharmaceutical industry. Journal of Financial Economics, 80(2), 351-383. JONES, O. 2000. Innovation Management as a Post Modern Phenomenon: The Outsourcing of Pharmaceutical RD. British Journal of Management, 11(4), 341-356. Kaplan, W., Laing, R. (2005). Local production of pharmaceuticals: industrial policy and access to medicines. World Bank HNP discussion paper. LIM, K. 2004. The relationship between research and innovation in the semiconductor and pharmaceutical industries (19811997). Research policy, 33(2), 287-321.