The chemistry of drug metabolism

The chemistry of drug metabolism Introduction To describe and explain the chemistry of drug metabolism a basic foundation of knowledge is needed to understand the concepts. Metabolism is one of the methods for analysing the effect of drugs or xenobiotics on the body. It is basically a process of converting lipophilic drugs into more hydrophilic drugs to decrease pharmacological effect and increase subsequent hepatic or renal elimination. So it is essentially a process of inactivation and detoxification of a drug and subsequent elimination of the metabolite formed. The basic knowledge involves the all time classical reactions such as oxidation and reduction and those more advanced reactions including glucuronidation and sulfation. Despite energy being needed to drive such reactions to be in favour, metabolism cannot occur without the complex nature of enzymes catalysing the process. However, metabolism of drugs in human is not solely dependent on the enzymes alone it can be affected by natural micro flora in the small intestines. In an in vitro experiment conducted on ranitidine, it was found that N-oxide was cleaved and is therefore a source of drug metabolism. An alteration in the population of micro flora can affect the of drugs efficacy this is a source of interaction between antibiotics and Microgynon ®. Furthermore, some drugs are bioactivated by metabolism to form active metabolites with a desirable pharmacological function i.e. prodrugs. Unfortunately metabolism can transform an inactive drug or xenobiotic into a biologically active compound which can be carcinogenic to humans. Phenol is a readily formed metabolite of benzene metabolism before catechol and hydroquinone 3,6 which poses a major health concern for humans because it can cause acute myelogenous leukaemia 6 As the great founding father of medicine Paracelsus once said â€Å"all drugs are poison†. Therefore humans and animals have adapted many mechanisms for detoxifying xenobiotics, and these processes are divided into two phases phase I and phase II. It is important to bear in mind that some phase II reactions can occur without phase I metabolism, but phase I and phase II reactions are complimentary and not mutually exclusive. This report describes the chemical reactions of drug metabolism and explains how they occur in vivo. 3.0 Phase 1 Phase 1 metabolism involves the direct enzyme activity on drugs P450 isoform enzymes and esterases are responsible for reduction and hydrolysis of drugs respectively. Each P450 isoenzymes genetic expression varies and can either be inhibited or induced. Knowledge of these drivers of metabolism is essential not only to optimise the use of drugs, reduce harm, maximise benefits in poly pharmacy but also to serve as a template for novel drug development10. P450 and esterase enzymes are mainly found in the liver. Phase I metabolism consists of 3 main reactions: oxidation, reduction and hydrolysis. 3.1 Oxidation 3.1.1 P450 mono oxygenase system 3.1.2 Other oxidation reactions 3.2 Reduction reactions Reduction reactions are mainly interconversion reactions that occur in azo, nitro and epoxide groups and conversion of carbonyl to its corresponding alcohol. Reduction reactions are carried out in the body by P450 isoenzymes, NADH/NADPH reduction systems, carbonyl reductase or aldo-ketone reductase. Azo compounds are generally used in pharmaceutical and cosmetic products. Reduction of an azo group is a classical example of a reduction metabolic reaction. This reaction occurs in the presence of other enzymes and is inhibited in the presence of molecular oxygen. Mechanism of Azo reduction Azo reduction can also occur in the presence of NADH/NADPH system alone within the pH range 3.5-6.08. An azo group can either be reduced by 2 hydrogens to form hydrozo compounds or 4 hydrogens to form two aromatic amines which usually results in a colour loss10 Mechanism of Nitro reduction Nitro groups also undergo reduction reactions and these are catalysed by the same NADP systems. 6 e- are donated to the NO2 to form amine functional groups as in chloramphenicol. This then undergoes acetylation conjugation in phase II metabolism. Conversion of carbonyl to corresponding alcohols Many different enzymes have been identified that catalyse carbonyl reduction of xenobiotics, but most of them catalyse other endogenous substances including sugars and prostaglandins7 Oracin, an anticancer drug with a pro-chiral carbon is metabolised by 11 ÃŽ ²-hydroxysteroid dehydrogenase type I in the microsomes. These metabolites are stereo specific to form DHO7 as shown below in figure 3.2.4. Much of what is known about Oracin metabolism is from phase II clinical trials as its not licensed for use in chemotherapy yet. Mechanism of epoxide reduction This reaction is catalysed by microsomal epoxide hydrolase, a catalytic triad that consists of His 431, Asp226 and Glu 404. Their activity is limited because of a narrow hydrophobic tunnel in the active site and water. A water molecule ionises to form a OH and H+ OH attacks the oxirane ring and thus opens it resulting in formation of vicinal dihydrodiol. This reaction is slow in vitro without acid but in this case epoxide hydrolase catalyses the reaction. Vicinal diols formed are more water soluble thereby terminating genotoxic potential. Hydrolysis Most hydrolysis reactions occur at the ester and amide functional groups, with ester more prone to hydrolysis than amide. Amides are more stable than esters because nitrogen is similar to carbon in size, but less electronegative than oxygen so electrons are pulled into the carbonyl Ï€ electron systems which stabilise its structure. The ease of hydrolysis of esters is used in the development of prodrugs to avoid first pass metabolism, a major problem in orally administered drugs. In vivo hydrolytic metabolism of drugs occurs in the presence of enzymes present in various parts of the body. Hydrolysis of drugs and xenobiotics is generally carried out by esterases mainly in the plasma and intestine and not by P450 systems. The blood, GI tract and liver have the highest hydrolysing capacity. The most significant hydrolysing enzymes are carboxylesterases, cholinesterases, arylesterases and serine endopeptidases. Carboxylesterase is one of the major esterases involved in drug metabolism and xenobiotic biotransformation of drugs with esters, amide and thioester functional groups. In figure 3.0 hydrolysis of ester bond results in benzoylecgonine, a carboxylic acid metabolite. But this is not the only ester group present in the structure. The group present next to the benzene can also undergo metabolism to form benzoic acid. Cocaine in the presence of heroine can generate the toxic metabolite cocaethylene in the presence of alcohol, from concomitant cocaine abuse. Carboxylesterase exists in two different forms hCE1 and hCE2. hCE1 is a more effective metabolic enzyme which transports protein to the endoplasmic reticulum and processes fatty acids and cholesterol in the liver alongside other cholesterol enzymes. The general mechanism of drug hydrolysis in esters and amides is by nucleophilic acyl substitution reactions as shown in figure 3.2.6. Minor structural differences exist between heroine and its metabolites, but their activity differs. Heroin (diamorphine) is converted by hydrolysis to 6-acetylmorphine and morphine. hCE1 mainly cleaves the 3-acetyl linkage to form 6-acetylmorphine. The 6-acetyl linkage is cleaved which later forms morphine with a phenolic -OH and secondary allylic -OH. Diloxanide furorate is a drug of choice and an antiparasitic agent for treating asymptomatic patients with E. histolytica cysts in the faeces and cryptosporidiosis, an acute intestinal amoebiaosis in HIV patients. The drug is orally administered and extensively metabolised by gastro intestinal esterase to form diloxanide and furoic acid, thereby diminishing its effectiveness. This problem is modified by using cyclodextrin that prevents excessive hydrolysis of the drug. Carboxylesterases ability to form a stable complex enhances its presence in the blood and makes it ideal for treating cocaine overdose. It is also considered that as an active site for drugs, this would make it ideal for drug discovery e.g. sarin and VX gas. 4. Phase II Conjugation pathway The phase II conjugation pathway is often a detoxification mechanism. It terminates drug pharmacological activity by changing or masking functional groups in the parent drug or phase I metabolite into a more ionic polar product which aids excretion. The processes that commonly occur in phase II metabolism can be fundamentally divided into 3 groups which are glucuronidation, sulfation and acetylation. The nature and functional group of a drug molecule will determine which one of these processes be in favour e.g. acetaminophen undergoes both glucuronidation and sulfation, however at high doses glucuronidation predominates and at low doses sulfation predominate (Airpine Choonara, 2009). 4.1. Conjugation with sugars Conjugation with various sugars is possible in nature, and novel pathways for xenobiotic metabolism are discovered frequently (Ikenakaa, Ishizakab, Miyabaraa, 2007). However the most important reaction in humans is glucuronidation. 4.1.1 Glucuronidation Glucuronidation is essentially conjugation of a substrate with ÃŽ ±-D-glucuronic acid, shown in figure 4.1.1.1. As the name suggests, glucuronic acid is a derivative of glucose with the 6th carbon being oxidised to a carboxylic acid group. This in combination with the many hydroxyl groups gives glucuronic acid a solubility of 1g/10mL in cold water, which the British Pharmacopeia would class as â€Å"freely soluble† (British Pharmacopeia Commission, 2009) Glucuronic acid is present in vivo as the co-factor uridine 5-diphosphate-glucuronic acid (UDP-glucuronic acid). The reaction of UDP-glucuronic acid with a xenobiotic substrate is catalysed by the enzyme UDP-glucuronosyltransferase (UGT) (Kaeferstein, 2009), and an example of a glucuronidation reaction is shown in figure 4.1.1.2 Figure 4.1.1.2 demonstrates how glucuronidation can occur with a xenobiotic containing an acceptor nucleophilic group (for example COOH, SH or NH2, but in this case OH) (Kaeferstein, 2009) (Sakaguchi, Green, Stock, Reger, King, 2004). The lone pair of electrons on the hydroxyl group attacks at the 1st carbon of the pyranose ring, which is activated because of the adjacent electron-withdrawing oxygens, in an SN2 nucleophilic substitution reaction. The UDP glycosidic bond is cleaved off owing to the good leaving group properties of the phosphate group, and the xenobiotic has reacted with the glucuronic acid to form a ÃŽ ²-D-glucopyranosiduronic acid conjugate. Note that the reaction is known to be SN2 because the formation of an intermediate leads to an inversion of stereochemistry at the anomeric carbon. The resulting glucuronide conjugate has improved solubility due to the hydroxyl and carboxylate groups, and is usually excreted in the urine, although there is evidence to suggest that conjugates with a high molecular weight are eliminated in the bile. However the glucuronides undergo some important reactions within the body which affects their metabolism. A spontaneous intramolecular reaction can lead to esterification of the glucuronide, as shown in figure 4.1.1.4. The newly formed ester carbonyl is capable of reacting with the N-terminal of a protein residue to form a stable imine, i.e. this can lead to irreversible protein binding. Alternatively, depending on which species the glucuronic acid is bound to, nucleophilic substitution can again occur and the xenobiotic will react with the N-terminal of the protein and regenerate free glucuronic acid (Zamek-Gliszczynski, Hoffmaster, Nezasa, Brouwer, 2006). Pharmaceutical companies may therefore try to avoid designing drugs which are predicted to be metabolised by the glucuronidation pathway, not just to increase the half-life of the drug by avoiding conjugation and excretion but also to avoid the potential side-effects that can occur as a result of protein binding, such as cirrhosis of the liver. Interestingly, glucuronidation can also lead not just to metabolites that lose their therapeutic use and are toxic, but some glucuronides can continue to be pharmacologically active and may even be more potent than their parent drug. Morphine-6-glucuronide (M6G) is one such example. M6G and morphine are both potent analgesics M6G, despite having been conjugated with a large polar molecule, still binds strongly to ÃŽ ¼ opioid receptors to provide pain relief to the same extent as morphine. Morphine-3-glucuronide, another metabolite, binds preferentially to NMDA receptors instead, and causes allodynia, myoclonus and seizures (the side-effects associated with opiate usage). Morphine and codeine are so far the only known examples of glucuronides with high activity (Kaeferstein, 2009). 4.2. Glutathione conjugation Glutathione serves as a substrate for electrophilic drugs because of the nucleophilic thiol moiety on the cysteine residue (thus glutathione can be referred to in reaction pathways as simply GSH). GSH conjugation therefore involves a nucleophilic attack of the sulphur atom onto drugs with electrophilic carbon atoms, i.e. those bound to good leaving groups such as halogens, sulphate and nitro, as well as activated carbon atoms in ring strained systems such as epoxides and ß-lactones (Zamek-Gliszczynski, Hoffmaster, Nezasa, Brouwer, 2006). Conjugation leads to a thioether bond being formed between GSH and the drug molecule. Following this reaction, conjugates are typically metabolised further to yield more polar molecules which are better excreted in the urine and bile (Zamek-Gliszczynski, Hoffmaster, Nezasa, Brouwer, 2006). Figure 4.2.4 shows the possible biotransformation reactions of a glutathione conjugate. Transpeptidase and peptidase convert glutamate to NH2 and remove glycine, respectively. NH2 is then a target for N-acetylation (mentioned in section 4.4). Alternatively, two molecules of glutathione can react together to form a disulfide bridge, in the process donating hydrogen atoms to reduce another molecule. This is usually utilised in vivo when glutathione acts as an antioxidant (Forman, Zhang, Rinna, 2009), but also plays a part in drug metabolism as seen in the denitrification of the antianginal drug, glyceryl trinitrate (GTN) in figure 4.2.5 (Ji, Anderson, Bennett, 2009). To reiterate, GSH reacts with highly electrophilic species in the body. This prevents drugs with electrophilic groups from attacking important nucleophilic centres in biological molecules, such as DNA and proteins, which could lead to toxicity. This is explored further in section 5 where the consequences of insufficient glutathione conjugation of paracetamol metabolites are looked at. 4.3. Sulfation Sulfation is one of the classical processes of phase II metabolism. It allows the biotransformation of numerous xenobiotics and metabolites from phase 1 (shown in figure 4.3.1) to be sulphate conjugates. This gives protection against toxicity or the potential toxic effects from the numerous xenobiotics and metabolites not being conjugated. It also produces more polar, more water soluble metabolites, which means they are more easily and readily excreted in urine or bile. The sulphate conjugate possesses such advantageous properties by having a low pKa, allowing an increased aqueous solubility and excretion. It is an important reaction for drugs and hormones that contain the phenolic functional group to be metabolised by conjugation to a sulphate group examples include steroid hormones, catecholamines, neurotransmitters, thyroxine, bile acids and phenolic drugs. Examples of drugs and xenobiotics with a phenolic group attached: The chemistry behind the sulfation conjugation reaction emphasizes the important key features of the system. This includes the two enzymes sulfatase and sulfotransferase, alongside the co factor 3†²-phosphoadenosine 5†²-phosphosulfate (3†²-phosphoadenylylsulfate, PAPS) which plays an important role in sulfation conjugation. The availability of PAPS and its precursor inorganic sulphate determines the reaction rate as the total amount of sulphate is limited and can be readily used up. PAPS is formed enzymatically by ATP and inorganic sulphate. The enzyme sulfotransferase transfers the active sulphate from PAPS to the xenobiotic or a phase 1 metabolite forming the sulphate conjugate (VL Verdugo D, 2004). Sulphate conjugation is a reaction principally of phenols and to a lesser extent alcohols to form highly ionic polar sulphates. Sulphate conjugation is also important for steroids because steroid sulphates are not capable of binding to their receptor and so this reduces its biological activity. Sulfation of alcohol generates a good leaving group and can be an activation process for alcohols to produce a reactive electrophilic species. Mechanism of sulfation conjugation an electrophilic substitution reaction: The oxygen of the OH has a negative inductive effect on the benzene ring so it withdraws electrons towards it making it a more reactive nucleophile It attacks the electrophilic sulphur of the sulphate group of PAPS The hydrogen of the OH bond leaves in exchange for the sulphate group and UDP acts as a good leaving group This forms the sulphate conjugate which is soluble and readily excreted via the kidneys 4.4. Acetylation Conjugation Acetylation is also an important reaction in phase II metabolism as the majority of drugs contain a primary amine functional group. It is a major route for the biotransformation of hydrazine and aromatic amines. This means that acetylation of the arylamine or phase 1 metabolites can occur more easily to reduce their biological activity (Garcia-Galan Diaz-Cruz, 2008). The limitation of acetylation is that it produces conjugates that are less water soluble (Zamek-Gliszczynski, Hoffmaster, Nezasa, Brouwer, 2006) as well as it does not work for drugs containing secondary amine groups. The aim of acetylation is to convert the primary amine moiety into an amide because amides are more stable as peptide bonds are more resistant to hydrolysis. Like glucuronidation and sulfation this reaction is highly specific because of the nature of the enzyme involved. The main players of acetylation conjugation are N-acetyltransferase and the co factor acetyl Coenzyme which is a thioester . The reactio n undergoes electrophilic substitution similar to Friedal-Craft acylation. The NH2 attached to the aromatic ring makes it much more reactive and electron donating. NAT helps to transfer the acetyl group (CH3CO) obtained from Co enzyme A (CH3COSCoA) to conjugate with the drug at the amine site forming the amide bond. H-SCo-enzyme acts as a good leaving group. Mechanism of acetylation conjugation: The lone pairs of the nitrogen of the primary amine of sulphonamide attack the carbonyl carbon of the acetyl group of the acetyl coenzyme A. In this reaction nitrogen acts as a nucleophile, donating the pair of electrons to the electrophilic carbonyl carbon. The carbonyl carbon (ÃŽ ´+) is activated by the electron withdrawing oxygen (ÃŽ ´-) making it more susceptible to nucleophilic attack. This forms a temporary tetrahedral intermediate, which falls back to form an amide bond and SH-CoA acts as a leaving group. As a result the acetyl conjugation of sulphonamide is formed, and this is readily excreted via the kidneys. 4.5 Stereo selectivity Stereo selectivity is classed as a fundamental aspect of drug metabolism ever since the tragic case of the drug thalidomide. This has provided a broader knowledge on the understanding of drugs and xenobiotics and also the importance of their stereochemistry properties. As mentioned in section 4.1.1 (glucuronidation), drug metabolism may lead to stereochemistry inversion of substrates during the various reactions that occur. An example of how the understanding of stereochemistry in xenobiotic metabolism has practical applications can be seen with the non-steroidal anti-inflammatory drug ibuprofen. It has been found that in vitro, only the S-isomer is pharmacologically active in inhibiting cyclooxygenase enzymes. However in vivo the metabolism of ibuprofen is complex, involving glucuronidation at the acyl group and hydroxylation at the 2 and 3 positions, but most importantly the metabolism of the 2 enantiomers differs because there is a unidirectional enzymatic conversion of the R-isomer to the active S-isomer. (Chang, et al., 2008). The metabolism of ibuprofen is summarised in figure 4.5.2. For this reason drug manufacturers typically produce a racemic mixture of ibuprofen for administration to patients, since the R-isomer will be converted within the body, and producing an enantiomerically pure sample would be needlessly expensive. 5. Micellaneous Amino acid conjugation is important for metabolising, solubilising and eliminating carboxylic acids through the urine because it produces very soluble conjugates. Amino acid conjugation mechanism e.g. benzoic acid (Xu, et al., 2007): The carboxylic group of the benzoic acid is first activated by ATP to the AMP ester This is then converted to the corresponding coenzyme A thioester with CoASH. These first two steps are catalysed by acyl Coenzyme A synthase enzyme The appropriate amino acid N-acyltransferase then catalyses the condensation of amino acid and Coenzyme A thioester to form the amino acid conjugate. Methylation conjugation: Even though it is not a common reaction for most drugs and xenobiotics, it is worth mentioning methylation because it is the most common biochemical reaction for endogenous compounds such as catecholamines (Strous, et al., 2009). Methylation plays a key role in the inactivation of amines such as norepinephrine, serotonin, dopamine and histamine, and is also involved in the biosynthesis of epinephrine and melatonin. A source of methyl comes from the high energy nucleotide S- adenosylmethionine (SAM) which is transported by cathecol-O- methyltransferase. However, it has been reported that methylated conjugates do not have improved water solubility (a similar disadvantage to acetylation). Methylation mechanism the nucleophilic substitution of norepinephrine: The lone pair on the electronegative oxygen of norepinephrine (R-OH) attacks the CH3 of SAM The bond between the sulphur and carbon breaks (S-C) Drug Toxicity The toxicity associated with acute paracetamol overdose is due to its metabolism processes. In the human body, paracetamol is mostly metabolised 30% by the sulfation pathway, 60% via glucuronidation and the remaining 10% being either excreted unchanged in the urine or undergoing CYP450-dependent oxidation as shown in figure 5.3 to form N-acetyl-p-benzoquinoneimine (NAPQI) (Airpine Choonara, 2009). NAPQI contains an electronically activated ring system, capable of attacking nucleophilic molecules such as N atoms in cellular macromolecules and causing cell damage. However NAPQI will preferably attack the more nucleophilic sulphur atom of glutathione and therefore will also undergo phase II metabolism to form inactive conjugates a schematic summary of the metabolism of paracetamo In overdose situations, the glutathione supply is used up as it is conjugated with the excessive NAPQI in the system. This leaves the rest of the NAPQI free to bind irreversibly to proteins in hepatic liver cells (since P450 metabolism occurs predominantly in the liver) and this cause liver necrosis. Without the detoxification capacity of the liver, the human body will typically die within 2 weeks (Airpine Choonara, 2009). With the chemistry of paracetamol metabolism in mind, it is easier to understand why some patients are classed as â€Å"high-risk† and thus more susceptible to paracetamol overdose: Recent alcohol (ethanol) consumption causes induction of the P450 enzyme involved in the formation of the NAPQI molecule; this leads to an increased quantity of NAPQI being produced and therefore the bodys supply of glutathione for conjugation is more rapidly used up leading to toxicity. Other drugs which induce the same P450 enzymes will have the same effect. Eating disorders such as anorexia nervosa lead to a poor diet and therefore decreased synthesis of glutathione in vivo, so NAPQI detoxification conjugation can be overwhelmed at lower concentrations of paracetamol consumption.

Breeder’s Own Pet Foods, INC Essay

Central issue: Breeder’s Mix is a new kind of dog food and it is totally differ from traditional types dog foods, people are not familiar with this product at all. In addition, it is very difficult to predict the trend of this product. Dog food industry is considered highly potential in a mounting trend. Firstly, the dog food industry has benefited from increasing dog ownership. Secondly, pet owners continue to invest their animal companions with human qualities. Thirdly, the premium and superpremium dog food is increasing. Supermarket distribution is focused on the single largest retail channel for dog food and Boston market is ideal for launching a new dog food. There are about 50 dog food manufacturers and 350 dog food brands in the US. 5 of them accounted for 75 percent of the market share. The company is supposed to face a series of problems introducing the Breeder’s Mix to the general market, mostly due to its new form of the packaging. In addition, the price is also a big issue to be considered. Solutions: When entering the retail market, the market segment that Breeder’s Mix should be high and dog raisers who would spend more on their dogs than those dog owners who buy dry/canned/treats. The description on potential buyer scope is too large, and it can be narrowed down to niche group among those purchase expensive dog food buyers. According to the case, we can find that Boston market has a large potential. We suggest the entire campaign should be designed to accommodate product introduction inside the Boston market area. So the campaign can affect not only Boston but also the area near Boston. It’s a good preparation for our next step for geographic market extension. Recommandation: We think that target market is the most important. We segmented where  Breeder’s should be. And When it entering the retail market, we can find our position. And in this position, we can use good strategies to get more market share in Boston Market.

The Role of Color in the Art of Vincent Van Gogh - 806 Words

What role did colour play in the art of Van Gogh? When people think of Vincent van Gogh they immediately think colour. This is mostly due to his bright French Paintings, but his first paintings in the Netherlands are never thought of as colourful. This is untrue, colour was always an important element in Goghs entire lifetime of works. Even though the melancholy paintings from Holland and the glowing works from Paris seem completely different they are a result of the same theory and practise. Vincent Van Gogh was mostly self thought and began his career in art by studding nineteenth century how to draw books and copying prints he liked. He felt like he had to master drawing techniques first in order to become a great painter. Van Gogh also had the idea that he had to work with black and white before he could master colour. He focused on form and perspective sketches. When he grew strong enough at drawing he began to start using colour. He became very adventurous and his fearless colour palette developed into one of the most significant features of his later works. Van Gogh produced over 150 watercolour paintings in his short life. These didnt feature his use of texture but, they are undoubtedly his due to the recognizable use of vibrant colour. Originally he used watercolour to add shadows to his drawings but the more he worked with them the greater he got and they became finished masterpieces. After just five years of studying art Gogh felt ambitious and wanted toShow MoreRelatedThe Color in Vincent Van Gogh’s Life: An Analysis of The Sower and The Night Cafà ©1264 Words   |  6 Pagesinvolved in art dealing, Vincent van Gogh was destined to have a place in the world of art. Van Gogh’s unique techniques and use of color, which clashed and differed greatly from the masters of the art world of his time, would eventually gain him the recognition as one of the founders of modern art. 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Euthanasia in America Essay - 615 Words

nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;Lately in America there have been a lot of discussion and debate on the topic of euthanasia and rather if its right or wrong. quot;Euthanasia is defined as the act or practice of killing or permitting the death of hopelessly sick or injured individuals in a relatively painless way for reasons of mercyquot; (Merriam-Webster). quot;Euthanasia comes from the Greek words eu and thanatos and means happy death or good deathquot; (Moreland). Euthanasia is also known as physician assisted suicide and no one is better known for the practice of physician assisted suicide than Dr. Jack Kevorkian.†¦show more content†¦Some fear that euthanasia will create emotional and Psychological factors which can be overpowering for people who are dependant or depressed thus bringing the question how do you determine if a patient is competent or incompetent? Others believe that euthanasia, if it becomes widespread, could become a tool for making money for large HMOs. nbsp;nbsp;nbsp;nbsp;nbsp;Personally I dont believe in suicide, but I also dont believe in suffering for no reason. I would hate to be put in a position where I had to decide to kill myself and be at peace, or live, and suffer. I probably would want to be at peace. I believe that euthanasia is as a useful practice, just as abortion is. Euthanasia is only practiced on terminally ill patients who have a high enough competence level to make decisions regarding their own life. If they choose to practice euthanasia, the procedure is fast and it doesnt hurt. People who oppose euthanasia often pull the religion card. Their arguments usually states that suicide is a sin and a quot;goodquot; Christians would never take their life because its up to God, if he wants you then he will take you. I never hear arguments that oppose the prolonging of life, God is usually never referred to then unless its a miracle. When people who have suffered really bad stroke or heart attacks and are in the hospita l and they are placed on life support for years on top of years, there are rarely any arguments because thatShow MoreRelatedEuthanasia Is The United States Of America861 Words   |  4 PagesDictionary, euthanasia is ‘the act or practice of killing someone who is very sick or injured in order to prevent any more suffering.’ Understandably, one suffering from a terminal illness such as AIDS, cancer, or Alzheimer’s, may think it best to put an end to their agony as soon as possible. Although it can be argued that there may be good intentions in carrying out this â€Å"mercy killing†, they do not change the fact that euthanasia is murder and should remain illegal in the United States of America. TheRead More Euthanasia: The Right Choice for America Essay1779 Words   |  8 PagesEuthanasia: The Right Choice for America The ethical debate of euthanasia continues while Oregon remains the only state in which it is legalized in. Based on the success of the Oregon euthanasia law, this law should serve as a model to the rest of the nation and it should be implemented all across the U.S. The success and effectiveness of this law can be seen through many case studies and statistics. Of course, there is a line that is often crossed with doctors who euthanize under unlawfulRead MoreEuthanasia Should Not Be Legalized in America Essay916 Words   |  4 PagesEuthanasia refers to the intentional bringing about of the death of a patient, either by killing him/her, or by letting him/her die, for the patients sake to prevent further pain or suffering from a terminal illness. Euthanasia is a complex issue in many underlying theological, sociological, moral, and legal aspects. 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In response to a request from the person. Euthanasia itself been around for as long as the history of medicine. This euthanasia is enormous and have long history in the United States. This soRead MoreThe Ethical Dilemmas Of Euthanasia Essay1638 Words   |  7 PagesThe Ethical Dilemmas of Euthanasia in Canada with the Legalization of Physician-Assisted Suicide This systematic analysis of the professional literature will explore the ethical dilemmas that Canadian medical professionals face while considering euthanasia or physician-assisted suicide, the latter of which was made legal in Canada on June 17, 2016 (Chochinov and Frazee, 2016). This paper will discusses the conflicts that healthcare professionals are faced with when looking at the quality of lifeRead MoreThe Hidden Potential Of Euthanasia1006 Words   |  5 PagesThe Hidden Potential of Euthanasia When people think of the term â€Å"dying with dignity† they will usually picture themselves living a very fulfilling life where everyone saw them as some sort of hero. Maybe they want to be seen as someone who was strong and kept up with a battle to fight disease. This same image could come to mind with a person who chose to take their own life rather than let a disease or terminal illness be the reason for them dying. There are very few people that imagine dying

Was Brutus A Tragic Hero - 772 Words

Do you believe that brutus was just a backstabbing friend, or really a tragic hero? Marcus Brutus from William Shakespeare’s, Julius Caesar, was a tragic hero in my opinion. I am going to try and convince you that he was and why he was a tragic hero in this essay. Brutus meets all of the criteria of a tragic hero. He is arguably the protagonist of the play; he has a fatal flaw that leads to his downfall, which he cannot recover from. He had good qualities like patriotism, and he was honorable. His tragic flaw was also one of his good qualities, he was honorable. He killed someone he loved for the good of his country. Brutus also killed himself for honor. In the following paragraphs I will be explaining all of this. My first point in this†¦show more content†¦Brutus was an honorable man. He died for his honor, and as I mentioned before, he killed Julius Caesar whom he loved for Rome. I believe that is very honorable. Brutus killed Julius Caesar. It was a selfless deed . He had no personal issues with Caesar. Brutus killed Caesar purely for the wellbeing of others. He even states that he doesn’t have a problem with caesar, â€Å"I would not, Cassius. Yet I love him well.†(Act 1. Scene 2), here he is responding to Cassius’s question, â€Å"Ay, do you fear it? Then must I think you would not have it so.†(Act 1. Scene 2). Cassius is asking if Brutus wants Caesar to be king, brutus does not think he is a good king but likes him as a person. Brutus killed himself for his honor. In the beginning he states, â€Å"For let the gods so speed me as I love The name of honor more than I fear death.† (Act 1. Scene 2). Brutus is saying that he would rather die than to have no honor. In the end of the play Brutus does kill himself. He does this so no one else can say that they killed him. He wants to keep his honor even in death. He asked a few of his friends to help but they wouldn’t. When he finally got someone to help him he said, â€Å"Farewell, good Strato. (runs on his sword) Caesar, now be still. I killed not thee with half so good a will. (dies)†(Act 5. Scene 5). He is saying that it is easier to kill himself than it was to kill Caesar. He knows he is going to get caught and killed anyway so he decides to kill himself. No one else can take credit forShow MoreRelatedDoes Brutus â€Å"Qualify† as a Tragic Hero?873 Words   |  4 PagesDoes Brutus â€Å"qualify† as a tragic hero? Marcus Brutus does qualify as the tragic hero in Shakespeare’s play The Tragedy of Julius Caesar. A tragic hero is a good or even great man and thus wins our sympathy causing catharsis. A tragic hero displays hamartia— the hero makes a mistake causing the downfall of his fortune. A tragic hero usually brings suffering and death to other characters, even a whole country. Finally, a tragic hero goes into a situation in which there is no gettingRead MoreJulius Caesar: Who is the Better Tragic Hero, Caesar or Brutus?1446 Words   |  6 PagesThe Search for the Perfect Hero In the world today people consider a hero to be someone like Superman or Spider-Man. In the dictionary a hero is considered or defined as a person of distinguished courage or ability, admired for their brave deeds and noble qualities. Though a hero is thought to be free of mistakes they all have tragic flaws like everyone else. A tragic flaw is explained by Aristotle’s definition, which says that: a tragic hero as a character of great reputation and prosperity whoseRead More Marcus Brutus as Tragic Hero in Shakespeares Julius Caesar Essays735 Words   |  3 PagesMarcus Brutus as Tragic Hero in Shakespeares Julius Caesar      Ã‚   In many stories there is a tragic hero. The hero finds out about himself and the people around him in the story. In Shakespeares play, Julius Caesar, Marcus Brutus is the tragic hero. The play Julius Caesar is about politics and betrayal in ancient Rome. Brutus is part of the senate, which is below Caesar, who is soon to be crowned. The senate wants to overthrow Caesar to save Rome. To do this the senate has to get BrutusRead MoreEssay about Brutus: Tragic Hero in Julius Caesar815 Words   |  4 PagesB.C. Brutus, along with seven other conspirators, assassinate Caesar to prevent him from becoming king. The Romans then wage war with these conspirators, and all eight are either murdered, or commit suicide. At this point in the play, the audience realizes who the tragic hero is. A tragic hero is a character in a high social standing who causes his/her own downfall. The hero becomes enlightened of his/her mistakes, which causes the reader to feel sympathy for this person . Therefore, Brutus can beRead MoreWilliam Shakespeare s The Tragedy Of Julius Caesar919 Words   |  4 PagesWickingson HELA10, Hour 7 Mrs. Beren 8 December 2014 A hero has many attributes and characteristics that can both positively and negatively affect them. A hero can then be considered a tragic hero through the choices that eventually bring about their demise. At first glance, Caesar may appear to be the tragic hero, when the real tragedy actually lies in Brutus’s story in William Shakespeare s play The Tragedy of Julius Caesar. One tray a tragic hero must posses is that they are relatable. The play mayRead MoreMarcus Brutus as a Tragic Hero Essay1002 Words   |  5 Pages A tragic hero in Shakespearean literature is understood as a noble and heroic character who makes a series of bad decisions based on his bad judgment that leads to his downfall and eventually death. In William Shakespeare’s play Julius Caesar, the tragic hero is Marcus Brutus, a powerful Roman senator who joins a conspiracy to assassinate the Roman ruler, Julius Caesar. Marcus Brutus is a tragic hero because of his noble reputation, his moral personality, the cathartic experience that the audienceRead MoreMarcus Brutus as the Tragic Hero in Shakespeares Julius Caesar1267 Words   |  6 PagesBrutus as the Tragic Hero in Shakespeares Julius Caesar Because of Shakespeares popularity among scholars and literary critics, his plays have been studied time after time. In the four hundred or so years since they were written, Shakespeares plays and other literary masterpieces have been categorized. Many of them, including Shakespeares portrayal of Julius Caesars murder and the resulting events for Rome and for Caesars conspirators, have been put into the tragedies category. AccordingRead MoreJulius Caesar and Other Shakespearian Tragedies810 Words   |  3 Pagesusually have a well-defined tragic hero. According to Aristotle, a Greek philosopher, a tragic hero is a character of high rank and nobility, exhibits a tragic flaw, and recognizes how his actions led to his eventual downfall. William Shakespeare’s The Tragedy of Julius Caesar incited a century old argument over who really deserves the title of â€Å"The Tragic Hero.† Many argue that Caesar is the tragic hero. However, I believe that Brutus should hold the title of tragic hero because he is a noble andRead MoreMarcus Brutus: The Tragic Hero Of Julius Ceasar972 Words   |  4 Pagesâ€Å"A man cannot become a hero until he can see the root of his own downfall.†(Aristotle). It should be noted that the Heroes downfall is his own fault as a result of his own free will, At times his death is seen as a waste of human potential. His death usually is not a pure loss, because it results in greater knowledge and awareness. In Julius Ceasar, William Shakespeare develops Marcus Brutus as the Tragic Hero whose ambition and naivety in his blind confidence in the nobility of man sparked guidanceRead More Brutus is the Tragic Hero of Julius Caesar Essay858 Words   |  4 PagesBrutus is the Tragic Hero of Julius Caesar      Ã‚  Ã‚   Shakespeares play Julius Caesar is a tragic play, where the renowned Julius Caesar is on the brink of achieving total control and power by becoming emperor of the Roman Empire. Ironically enough, when he thinks he is one step away from pulling it off, his friends (most from the senate) decide to overthrow him, with Caesars most trusted friend, Marcus Brutus, acting as leader of the conspirators. Though the fall of Caesar from the most

Accounting Standards in China and Australia Free Essays

Until recently, China has used a set of accounting standards that were quite unique in their records.   These standards were the legacy of a socialist period in Chinese history and rather than keeping records of loss and profit for a corporation operating in China, they mainly concerned themselves with keeping track of all of the assets available to the corporation. By not keeping close tabs on the debts that a corporation owes, the accounting standards in China have long been considered lax by the outside world and have hindered international companies who wish to have headquarters in China. We will write a custom essay sample on Accounting Standards in China and Australia or any similar topic only for you Order Now For instance, a corporation in China with holdings internationally, such as in the United States, must create end of the year accounting reports using the Chinese Accounting Standards, another set using the International Accounting Standards, and a third using the North American Generally Accepted Accounting Principles, creating an overload of work and an extreme cost to the corporation. Recently the Finance Department of Chinese Government has begun a process which will translate the current Chinese accounting methods from their archaic status to where they will more closely mirror the International Accounting Standards which incorporate the Generally Accepted Accounting Principles. Previous to this decision to reform the way that Chinese corporations report their accounts, the Chinese system involved simply classification of ownership, industry, and government, giving companies an extreme amount of leeway in the ways in which they conducted business.   Now the Chinese government has instituted that each corporation must keep track of all debits and credits, report manufacturing costs as well as capital maintenance, and provide yearly financial statements. The first true accounting standards in China were implemented in 1997 and changes continue to be made to bring the country’s financial practices up to date.   Currently this transformation is still in progress, so any foreign company with a subsidiary in China must still comply with not only their country’s accounting practices but also with the Chinese straight line accounting practices which allow for a much slower depreciation of capitalized assets. For those wishing to not use the straight line method, the only way to use an accelerated accounting method with regards to Chinese holdings is to receive explicit permission from the Ministry of Finance.   Another difference in Chinese accounting methods is the difference in tax deductibility. For instance, China charges significant tax charges on intercompany transactions and treats transfer pricing of the upmost importance in order to receive a large cut of international taxes.   Incorrect interpretation of Chinese tax laws can lead to severe fines for corporations. In Australia, the corporate accounting practices previously used have also come under fire in previous years for being widely different from internationally accepted accounting standards.   In response, Australia began to work the internationally accepted accounting principles into their current system, effective January 1, 2000, and have also developed the Financial Reporting Council which is responsible for overseeing the accounting practices of both   public and private corporations operating in Australia. The previously lax Australian reporting standards which did not require corporations to conform to one specific type of accounting practices nor give stringent guidelines in so far as what reports were required by the government are being phased out by the International accounting standards which allow Australia to develop along with the global economy. Australia has also instituted an Australian Accounting Standards Boards to periodically re-evaluate corporate accounting practices in Australia as well as enforce the new standards being phased in.   Australia is working to harmonize their standards with those of the International Accounting Standards Committee and is also a part of the G4+1 global group which monitors the setting of international accounting standards. Works Cited Australian Government. (2009, May 5). Australian Accounting Standards Board. Retrieved May 5, 2009, from Australian Accounting Standards Board: http://www.aasb.com.au/Home.aspx China Accounting Standards. (2007, February 15). Retrieved May 5, 2009, from China Orbit: http://www.chinaorbit.com/china-economy/chinese-accounting-standards.html Lehman Brown. (2009, February 12). Chinese Accounting FAQ. Retrieved 5 May, 2009, from Lehman Brown: http://www.lehmanbrown.com/FAQ-Acc.htm Queensland University of Technology. (2008, June 15). Accounting Standards. Retrieved May 5, 2009, from Queensland University of Technology Library: http://www.library.qut.edu.au/learn/type/accountingstandards.jsp    How to cite Accounting Standards in China and Australia, Papers

Oil Industry Essay Example For Students

Oil Industry Essay The oil industry can not be discussed without mentioning the name John D. Rockefeller. Rockefeller changed the business of oil distribution. In the 19th century Rockefeller began his humble beginnings with a small investment, along with two other partners, in the oil refining business. Eventually Rockefeller upset at the direction of the company bought out his partners. He was now buying into refining and developing kerosene and other petroleum-based products. He later named this company The Standard Oil Company which by 1872 nearly owned all the oil refineries in Cleveland. In 1882, Rockefeller took all his holdings and merged them into the Standard Oil Trust. Through smart business practices and some deception, Rockefeller was able to control three-fourths of the petroleum industry by the 1900’s. After his retirement the company faced problems. (Rockefeller archive) The U.S. government believed that the Standard Oil Trust was a monopoly and ordered its breakup much like the process that is taking place today with Microsoft. With the government eventually breaking up the trust into thirty-eight companies, the world of petroleum products was about to change. Few companies could survive. They lacked focus and sustainability, basically they needed a strategic plan. When first broken up the companies needed to sever from their Standard ties while remaining a brand name that people recognized. With so much competition one company had to find an edge over the other. They needed to be the low-cost leader in the industry. Out of this struggle is where three of the biggest oil companies emerged. They are Exxon, Mobil and Chevron. With the breakup of the Standard Oil Trust also came a great opportunity for a foreign company to compete. Though Europe was battling some of the same problems that Standard Oil had, a few companies were able to break into the U.S market. Though it took many years to get in British Petroleum was able to start with a selective group of stations and build from there. BP, Chevron, and Exxon Mobile today make up three of the biggest in the oil industry. (Chevron Official Website)These three companies have all been created by many purchases and mergers over the last hundred years and must be described to have a better understanding. It was the demand for low oil prices, convenience, and superior quality that led to the companies tremendous growth in the last century. Out of the Standard Oil Trust breakup came two companies named Standard Oil of New Jersey and Standard Oil of New York otherwise known as Sonoco. Since they were not allowed to use the Standard name in territories given to the other breakup companies they had to change the name of their brand. They would market their gas under the name Esso and Mobilgas with the Standard label still displayed on their signs. With this increased competition Jersey Standard and Socony were forced to focus on quality and a low cost. To achieve this low cost they purchased interests in overseas oil mostly in the Middle East. Both these companies also were able to compete in overseas markets in Europe and Asia. With the take off of the car, the gasoline industry was booming. Both suffered from fierce competition. However Jersey and Socony had a greater ability to build up their resources. They used their interests in the Middle East to become a low cost producer as well as increase production with pipelin es and expansion. (ExxonMobil Official Website) Jersey Standard realized early on to stay in this industry it was going to have to be competitive in every market. They built the company up through mergers and large acquisitions. They bought over fifty percent interests in a competitor named Humble Oil, a Texas company. This increased their contacts with suppliers because Humble had a series of pipelines and was a huge transporter of oil. They also had many oil refineries in Texas. Socony was able to merge with an original Standard Oil Trust company named Vacuum. This helped their brand because it was able to not only merge with a competitor but lessen the number of companies using the Standard name. They marketed their Mobilgas in Vacuum properties and the brand symbol became the red wing horse. Both companies struggled in distribution. They both had plenty of interests in oil fields outside the U.S. but very few markets there. Jersey and Sucony decided on a fifty- fifty joint venture in about fifty countries. This marked the first time these companies worked together since the days of the Standard Oil Trust. By 1935 though expansion abroad was decreasing with the rise of WWII. The companies were forced to focus on supplying the Allied war effort. Jersey Standard focused on differentiating itself with their new technology of boosting fuel octane. With the ability to test such technologies in the military the Jersey Company was able to grow at a rapid rate. These technologies were introduced to the market at a tremendous success. This increased the revenues at Jersey, which also increased their reputation as being a quality brand. They were selling their gas at a lower cost then any other competitor with their new technologies. Jersey started advertising on TV for the first t ime. They developed a mascot that was to been seen at every Jersey/Esso station around the world. This mascot was a tiger. People were able to identify the Jersey/Esso name by the tiger for the first time. They achieved brand recognition. Socony achieved technological success too as well. They created new synthetic lubricants. These technologies help them increase their product line. They now had something other competitors didn’t have. Socony focused on their new products to achieve a cost advantage. They had achieved product differences from their competitor while discovering brand identity. Sucony started using their mascot on more advertisements. The red winged horse soon would identify them. After the war the companies focused on their foreign markets more. In addition, they started finding new ways to use oil and oil BI-products. Both companies developed chemicals with new technologies. Socony created a chemical company called Mobil Chemical Company in 1963. With this new company Sucony became the first to produce such products. This gave them low costs to establishing the brand since they were first. Jersey was not far behind with their chemical company in 1965, the Exxon Chemical Company. Both chemical companies dealt with such products as olefins, aromatics, polyethylene and process fluids. They both had manufacturing locations in several countries, which increased their buyer power, and they were able to be closer to some of their suppliers. In 1966 the Socony-Vaccum Company changed its name to Mobil Oil Co. and Mobil Oil become its wholly owned subsidiary. Jersey followed suit with the change of their name in 1972 to Exxon in the U.S. and foreign markets to Esso. W ith the change of their name both companies where able to tie all the mergers and acquisitions under one name. This in turn would help their brand identity. (ExxonMobil Official Website)In the 1970’s came the oil embargo of Iran. This rocked Exxon and Mobil with rocketed prices and disruption in the companies’ suppliers. Also the companies were not free to develop new products to maintain their competitive advantage. Mobil and Exxon were forced to look for other oil opportunities around the world. They found new oil developments in the Gulf of Mexico as well as Africa and Asia. At the end of the embargo and the decade oil was in surplus. Both companies competed with very low costs to the consumer. They both would continue to compete against each other with very low prices. Competitiveness was worldwide now and new costs were arising with expansion. Exxon and Mobil used their new profits to continue to market new products and extend into high growth areas. Today the oil industry has changed rapidly to only a few companies. To compete in the markets Exxon and Mobil decided to merge with each other and become the number one oil company in 1998. Both companies’ had massive supplies of oil interests around the world along with its hundreds of markets across the world. They became the number one low cost producers in the world today. ExxonMobil accomplished this by having the most suppliers, the ability to save cost by merging their similar departments together, faster delivery time, and the focus on providing the customer with quality, efficient, low price products. Overall ExxonMobil has shown to have powerful strategies and commands the lead in market share in the oil industry. With the new merger ExxonMobil revenue is over 35 billion dollars more then its closest competitor. ExxonMobil has a net income of almost 8 billion dollars in 1999. Though they have had a decrease from a year ago in income they have determined it has come from the rise in crude oil prices. This has little affect on the future, as more then likely crude oil will eventually fall. (ExxonMobil Official Website)The Chevron Co. also is a company broken off of the Standard Oil Company. Chevron started out as the Standard Oil Company of California or Socal. Socal was the first oil refining company to have a gas station. They made it so customers no longer had to service their car with buckets of gasoline from a dry goods store. Socal developed large tanks of gas with a garden hose to fill your tank. They were also the first to use a rain-blocking canopy, which was the first example of customer amenity. (Chevron Official Website) With increased business, profits took off. More stations where built across the U.S. Today there stands over 200,000 stations in the U.S. alone. In 1926 Socal merged with Pacific Oil Company to increase market growth. With the merger Socal increased its competitiveness with other companies. Socal used the new capital from the mer ger to establish Bahrain Petroleum Company where they struck oil in 1932. They also invested in oil discoveries in Saudi Arabia. By 1936 Socal was ready to invest in other parts of the world. But they needed help from a competitor. They ventured into a partnership with Texaco, which brought in new markets in Asia, Africa and Europe. Still looking to stay competitive in the oil industry they continued expansion in the Gulf of Mexico and the North Sea after WWII. Through mergers Socal reached across the U.S. and established new markets competing against former Standard Oil Trust companies including Socony and Jersey. Socal marketed with the Standard name in its territories but used Chevron name in new acquisitions. (Chevron Official Website) Along the way Socal started to distinguish itself from the rest of the competition. They started adding gardens or fruit markets to attract more customers. They added vending machines to keep the customers occupied while filling up. It took over 8 minutes to fill a tank back then. They also provided customers content by washing their windows, checking their oil and maybe even cranking their engine. Eventually their competition caught on and started to duplicate the Socal ideasWith new technologies Socal increased its brand identity and lowered its costs in many markets. Socal later was concerned of not having many markets on northeast side of the U.S. coast. So in 1984 Socal bought Gulf Corp. and restructured. Out of the restructuring Socal decided to change all their markets to the Chevron name. Markets where Chevron and Gulf competed where sold to BP. Most of these markets are in the southeast. (Chevron Official Website) With the new name and increased market growth Chevron lowered their costs. They gained new suppliers through the acquisitions and have been able to have a competitive advantage with their focus in the northeast. Chevron over the years has moved into over twenty-five countries. Many of these countries are w here they have their suppliers. They have used these suppliers to supply them with low cost oil, which in turn has provided them the ability to offer their customers low prices. However, Chevron was late in getting into the international market place and does not have as many markets as leader ExxonMobil. Chevron has struggled over the years to compete with Exxon and Mobil and with their merger they faced trouble. Chevron knew in order to survive, they were going to have to find away to stay competitive. In 1999 they started talks with rival Texaco about plans for a merger. Today they have come to an agreement to merge and are on their way to a post merger company. This merger could be right in time. Chevron though not failing is clearly suffering in the last few years. It is unable to gain market share on ExxonMobil. They have been out sold the last two years buy over 60 billion each year. Their profits are still high but they have been unable to compete with the giant ExxonMobil. Until this merger is complete we have little fact that shows Chevron will ever be able to compete with ExxonMobil. They are by all means stuck in the middle. They lack the focus or the market share to compete in today’s oil industry. If they plan at making a run at ExxonMobil they will need this merger with Texaco to give it some life. British Petroleum or BP, based out of Britain, is one of the leading oil and petrochemical companies in the world. A guy named William Knox D’Arcy who had invested in oil interests in Iran at the turn of the century created BP. With little skilled workers and working in a country with out a strong government he was faced with many difficulties. It took D’Arcy over 8 years to eventually find oil in Iran. (BP Official Website) This was the beginning of oil exploration in the Middle East. By 1917 D’Arcy was retired and replaced by Charles Greenway as head of the company. Under Greenway BP avoided falling under the dominance of the Royal Dutch-Shell Co. But to stay competitive Greenway needed to find new capital and new markets to distribute its oil. Their first big customer was the Royal Navy. The government injected much needed capital into the company. The increase was huge, as the British government would enter WWI and later WWII. Between the two wars BP was able to grow with huge success. They marketed by new methods, which included roadside gas stations instead of cans of gas. They also entered into supplying gasoline for airplanes and massive ships. (BP Official Website) BP ended up exploring Canada, Africa and Europe looking for new oil and building new refineries. When Greenway retired in 1923 he released his main strategic goal. He wanted to establish BP as the worlds largest Oil Company but not only in gasoline and oil but also with presence in every phase of oil production. (BP Corp. Annual Report, 1999) From this, new products were developed and new chemicals were made. After the war the companies sales and profits had risen tremendously as well as employment and capital expenditure. They also had the largest oil refinery in the world and Iran was the leading oil producing Middle East country. Animal Cruelty leads to Human EssayToday when you go to the service station you can get your windows washed, pick up a drink or snack, or play the lottery. They have made it a one-stop shop. Exxon has expanded its TigerMarkets worldwide. They offer services no other company does. They have also marketed their stations at a better pace then their competitors. One other plus that Exxon has had in the past few years is negotiate with the Walt Disney Company to be the one and only gas station on Disney property. With the amount of people and cars that Disney parks see it is know wonder ExxonMobil has become the number one service station in the world. Technology has been the competitive advantage for ExxonMobil. They have come up with more technologies then any of their competitors. They offered their customers more choices at a regular basis then Chevron or BP. Exxon was the first into lubricants, and to test higher octane fuels. They also were the first to enter the market in petroch emicals. They have beaten their competitors at every turn. The reason that ExxonMobil is number one is because they never stopped competing. ExxonMobil has gone out to find the best suppliers. They have invented skyscraper-drilling platforms for the ocean looking for every competitive advantage. BP and Chevron took years before they were able to catch up in ocean drilling. Exxon was also tested and completed almost zero-emissions in lubricants and fuels. New technology is ExxonMobils competitive advantage. (ExxonMobil Official Website) ExxonMobil’s strategy is to be the leader in new technologies now and in the future. The U.S. has recently seen record growth in the last decade and has improved the oil industry tremendously. In the nineties oil prices reached lower prices then we have seen in a long time thanks to the drop in price in crude oil. People were able to travel more often because of the cheapness of the gas prices. Now it was the job of ExxonMobil, Chevron, and BP to get them to choose their gas. When you go to get gas you usually find gas stations on more then one corner. More then likely is the price is the same as the competitor. So to differentiate themselves from the other the companies they needed to try new things. Discussed earlier are the company’s strategic plans to draw customers. ExxonMobil established this plan the best. What also helped them was their market share. ExxonMobil market share is more then double their nearest competitor. They have more service stations per area then the rest. In 1999 ExxonMobil had net income of 8.1 billion dollars compared to Chevronâ⠂¬â„¢s 2 billion and BP’s 5 billion dollars. With Chevron’s acquisition of Texaco it clearly showing that it needed to find away to gain the market share that ExxonMobil has. The merger has not cleared yet but it should soon be and make Chevron move up from the fourth largest oil company in the world. Without this merger Chevron will never be able to compete with the giants ExxonMobil, BP, and Shell. (Chevron Official Website)ExxonMobil is clearly the giant when it comes to marketing their product. They have adopted a mascot to identify their company. The Tiger mascot first started appearing in the early 1900’s and it is known all around the world today. The ExxonMobil tiger ranks up there with Ronald McDonald, and Mickey Mouse. As the oil industry becomes more competitive with recent mergers the need for an effective marketing strategy increases. Exxon has increased there spending on marketing in the last few years to acknowledge the merger with Mobil. They mus t let the customers know that Exxon and Mobil are one now and they will deliver the same great quality. BP has a similar situation with the merge with Amoco. They have had trouble though marketing an American product. They do not have any catchy slogans or a mascot. In fact until very recently BP never had a definite symbol to represent its interests in the U.S. They have used the names NOCO, ARCO and Amoco until recently going to BPAmoco. Under one name they should be able to establish an identity. They must increase awareness to their customers by a full marketing campaign, which they have not done. Chevron is recognizable around the world for its bars underneath their name. They are the old Standard symbols. Chevron now has to work on a new marketing scheme to emphasis its merger with Texaco. They will be entering into new markets and must establish a name. They will have the advantage of the popularity of Texaco as a convenient service station. Texaco’s stations are some of the fastest stations to get out of. They have the newest state of the art technologies to pump the customer’s gas quicker and check them out faster. Chevron must hold on to Texaco’s loyal customers who hold Texaco spending cards. (Chevron Official Website)What all the oil companies have done has released smart cards to encourage customer loyalty. This card is kind of like a lot of the grocery stores new bonus cards. Each service station will offer you a card that can be used to pay your gas bill but also you may be allowed to purchase food and merchandise in the quickmart. They also offer the chance to receive rewards for using their cards. ExxonMobil has developed the best card and seems to be the most popular today. One reason for this is wherever you go around the country you will find an ExxonMobil. This helps the customer because they believe their card will be valid everywhere and it will. ExxonMobil also has come up with many promotions to get customers into their stations. They have given away basketballs and t-shirts along with other stuff. While most gas stations also do this they do not have the marketing exposure that ExxonMobil has. ExxonMobil clearly has the marketing advantage over its rivals. Chevron has a chance to gain share when the final merge with Texaco takes place. (Chevron annual report, 1999) As far as BP goes with only being in the U.S. market for 12 years they have a long way to go. If they ever want to compete in the U.S. and overtake ExxonMobil they must market better. In this highly competitive industry sustainability is a difficult task. Chevron saw that it was losing the battle so they orchestrated a merge. If they did not initiate this in all likely hood they would be bought out or dismantled. ExxonMobil has proved to be the low cost provider with its new technologies and new suppliers from around the world. ExxonMobil has seen its revenues go up some 25% in the last year. While Chevron has seen 52% and BP has seen 77%. It might seem that Exxon is falling behind but really the other companies are making a strong push to be competitive for the first time. BP has gone through major restructuring and has made productivity improvements. While Chevron has seen there products help boost them up and some decreased operating expenses. Every company was helped by the increasing price of crude oil. ExxonMobil has seen the rise in competition in the last years and has developed a strategy to continue success. They include:1.)Maximize profitability of existing oil and gas productions2.)Identify and pursue all attractive exploration opportunities3.)Invest in projects that deliver superior returns4.)Capitalize on growing natural gas markets.(ExxonMobil annual report, 1999)Chevron has been focusing on their recent merger with Texaco, which has still not been approved. Once the companies do merge they will establish a strategic plan. They continue to work through this business deal ready to challenge its competitors. BP has recently used a strong trading environment to gain a market advantage. They also have concentrated on their natural gas and chemical industries. To gain market share in the U.S though they are going to have to start investing more into the recently purchased Amoco. They have still not realized the full potential of the U.S market. BP clearly needs direction to over take ExxonMobil. There is little growth in the oil industry today. The oil industry has come down to four major companies competing against each other. Foreign markets determine today’s growths in the industry. Not only in finding new customers but also finding new suppliers. With oil production in the Middle East controlled by OPEC the oil industry is suffering from high oil prices, which is driving the economy down. The companies need to start to find a greater production out of none OPEC countries. (The Street.com)ExxonMobil has started using it strategic plan to go out and invest, secure, and explore new oil deposits. They have more interest today towards the natural gas solutions. They are going to start competing highly against BP. If BP is as easy as a push over in the gasoline industry ExxonMobil will have little trouble to become number one in natural gas. Chevron has made little effort to get into the natural gas market but they do have a competitive advantage in marine technology. T hey may in the future concentrate on that to gain advantages. These companies will all sustain in the markets of the future. There will always be competition in the oil industry. ExxonMobil has shown that they will continue to be number one through their strategic plan of technology. They plan to beat the other companies to next newest thing. With the merger of Chevron and Texaco, Chevron has pushed itself to the elite. Now they must put together a strategic plan to overtake the giant ExxonMobil. BP is slowly organizing itself for a major push to be number one. The future of the oil industry is clearly wide open. With all the new mergers all one company has to do is develop their strategic plan and use competitive advantages over their competitors. ExxonMobil has shown to have down that are showing the results with the largest profits ever recorded this year with 17.72 billion. (ExxonMobil annual report, 1999)Exxon has decided to look ahead into long-term benefits associated with improved capital efficiency. They will be the best business with the best opportunities around the globe. They believe they have the right explorations under way and the best portfolio in the industry. Exxon also has the most profitable petrochemical business in the world now with the merger. Chevron will now be looking for a new identity. They will have to make wise decisions in where they want to go. Do they want to compete head on with the giant ExxonMobil? Or are they content on being stuck in the middle. They have to develop a new strategic plan and differentiate themselves from other oil companies. BP has been able to gain solid ground on ExxonMobil in the last few years due to international markets. To stay competitive they must continue exploration around the world for new suppliers. However, their main concern should be identifying their U.S. strategy. They also better be on the look out for the new merger of Chevron-Texaco. If they are not careful they could be left on the side fighting for market share. Today the world is entering a period of economic adjustment and the oil industry is contributing to that. Oil prices are higher today then they have been in a long time. It has been said in the past that oil prices are tied to the economy. Does that mean that the three companies ExxonMobil, BP, and Chevron are in trouble? No they will all continue to survive. This adjustment occurs all the time and the oil industry will go on its business. In fact this will help the oil industry grow with their search around the world for new markets and new supplies. ExxonMobil has put itself in the best place to grow and prosper in the years to come. You must remember that this merger is only two years old and yet they are growing at an outstanding rate. The world has never seen the numbers that they have achieved. They have developed some of the most useful technologies and are clearly showing no sign of backing down. Today companies copy ExxonMobil’s strategic plan the time. ExxonMobil has the best market share, the biggest revenue and by far the most profits. They clearly are the standard of the oil industry. BP on the other hand has got to start developing a new strategic plan to stay competitive. They have not shown the know how to beat ExxonMobil. If they do not change they will become stuck in the middle. Chevron is opening up a whole New World right now. Nobody knows where Chevron could go. They are entering a phase that ExxonMobil was in a few years ago. They too could end up pulling off the same success as ExxonMobil. But if they come out of this new merger with out a strategy to become the best then they will surely be left at the bottom as they are now. In conclusion, of the three, ExxonMobil is the dominant company but must look out for, the growing company, Chevron. Bibliography:BIBLIOGRAPHYBP’s Corp., Official Home Page: www.bp.com. BP’s Corp. 1999 Annual Report, BP Corporation, 1999. Chevron’s Corp., Official Home Page: www.chevron.com. Chevron’s Corp. 1999 Annual Report, Chevron Corporation, 1999. ExxonMobil’s Corp., Official Home Page: www.exxon.mobil.com. ExxonMobil’s Corp. 1999 Annual Report, ExxonMobil Corporation, 1999. Haddadin, Haitham. â€Å" Stock Crash Reminds Pros of 1973-74 bear market† U.S. Market News, March 1, 2001. Park, Christopher. â€Å" S. Korea, Russia agree to strengthen oil, gas cooperation† U.S. Market News, Feb. 27,2001. Yahoo: www.rockefeller.edu/archive.ctr/jdrsrbro.html(3-1-01)Yahoo: www.leegallery.com/perjune.html (3-1-01)