1.
Europe
–
Europe is a continent that comprises the westernmost part of Eurasia. Europe is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, yet the non-oceanic borders of Europe—a concept dating back to classical antiquity—are arbitrary. Europe covers about 10,180,000 square kilometres, or 2% of the Earths surface, politically, Europe is divided into about fifty sovereign states of which the Russian Federation is the largest and most populous, spanning 39% of the continent and comprising 15% of its population. Europe had a population of about 740 million as of 2015. Further from the sea, seasonal differences are more noticeable than close to the coast, Europe, in particular ancient Greece, was the birthplace of Western civilization. The fall of the Western Roman Empire, during the period, marked the end of ancient history. Renaissance humanism, exploration, art, and science led to the modern era, from the Age of Discovery onwards, Europe played a predominant role in global affairs. Between the 16th and 20th centuries, European powers controlled at times the Americas, most of Africa, Oceania. The Industrial Revolution, which began in Great Britain at the end of the 18th century, gave rise to economic, cultural, and social change in Western Europe. During the Cold War, Europe was divided along the Iron Curtain between NATO in the west and the Warsaw Pact in the east, until the revolutions of 1989 and fall of the Berlin Wall. In 1955, the Council of Europe was formed following a speech by Sir Winston Churchill and it includes all states except for Belarus, Kazakhstan and Vatican City. Further European integration by some states led to the formation of the European Union, the EU originated in Western Europe but has been expanding eastward since the fall of the Soviet Union in 1991. The European Anthem is Ode to Joy and states celebrate peace, in classical Greek mythology, Europa is the name of either a Phoenician princess or of a queen of Crete. The name contains the elements εὐρύς, wide, broad and ὤψ eye, broad has been an epithet of Earth herself in the reconstructed Proto-Indo-European religion and the poetry devoted to it. For the second part also the divine attributes of grey-eyed Athena or ox-eyed Hera. The same naming motive according to cartographic convention appears in Greek Ανατολή, Martin Litchfield West stated that phonologically, the match between Europas name and any form of the Semitic word is very poor. Next to these there is also a Proto-Indo-European root *h1regʷos, meaning darkness. Most major world languages use words derived from Eurṓpē or Europa to refer to the continent, in some Turkic languages the originally Persian name Frangistan is used casually in referring to much of Europe, besides official names such as Avrupa or Evropa
Europe
–
Reconstruction of
Herodotus ' world map
Europe
Europe
–
A medieval
T and O map from 1472 showing the three continents as domains of the sons of
Noah — Asia to Sem (
Shem), Europe to Iafeth (
Japheth), and Africa to Cham (
Ham)
Europe
–
Early modern depiction of
Europa regina ('Queen Europe') and the mythical
Europa of the 8th century BC.
2.
Engineers
–
Engineers design materials, structures, and systems while considering the limitations imposed by practicality, regulation, safety, and cost. The word engineer is derived from the Latin words ingeniare and ingenium, the work of engineers forms the link between scientific discoveries and their subsequent applications to human and business needs and quality of life. His/her work is predominantly intellectual and varied and not of a mental or physical character. It requires the exercise of original thought and judgement and the ability to supervise the technical, he/she is thus placed in a position to make contributions to the development of engineering science or its applications. In due time he/she will be able to give authoritative technical advice, much of an engineers time is spent on researching, locating, applying, and transferring information. Indeed, research suggests engineers spend 56% of their time engaged in various information behaviours, Engineers must weigh different design choices on their merits and choose the solution that best matches the requirements. Their crucial and unique task is to identify, understand, Engineers apply techniques of engineering analysis in testing, production, or maintenance. Analytical engineers may supervise production in factories and elsewhere, determine the causes of a process failure and they also estimate the time and cost required to complete projects. Supervisory engineers are responsible for major components or entire projects, Engineering analysis involves the application of scientific analytic principles and processes to reveal the properties and state of the system, device or mechanism under study. Most engineers specialize in one or more engineering disciplines, numerous specialties are recognized by professional societies, and each of the major branches of engineering has numerous subdivisions. Civil engineering, for example, includes structural and transportation engineering and materials engineering include ceramic, metallurgical, mechanical engineering cuts across just about every discipline since its core essence is applied physics. Engineers also may specialize in one industry, such as vehicles, or in one type of technology. Several recent studies have investigated how engineers spend their time, that is, research suggests that there are several key themes present in engineers’ work, technical work, social work, computer-based work, information behaviours. Amongst other more detailed findings, a recent work sampling study found that engineers spend 62. 92% of their time engaged in work,40. 37% in social work. The time engineers spend engaged in activities is also reflected in the competencies required in engineering roles. There are many branches of engineering, each of which specializes in specific technologies, typically engineers will have deep knowledge in one area and basic knowledge in related areas. When developing a product, engineers work in interdisciplinary teams. For example, when building robots an engineering team will typically have at least three types of engineers, a mechanical engineer would design the body and actuators
Engineers
–
An electrical engineer, circa 1950
Engineers
–
Engineers conferring on prototype design, 1954
Engineers
–
NASA Launch Control Center Firing Room 2 as it appeared in the Apollo era
Engineers
–
The
Challenger disaster is held as a case study of
engineering ethics.
3.
Acquisitions
–
Mergers and acquisitions are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined. As an aspect of management, M&A can allow enterprises to grow, shrink. An acquisition or takeover is the purchase of one business or company by company or other business entity. Specific acquisition targets can be identified through a myriad of avenues including market research, trade expos, or sent up from internal business units, such purchase may be of 100%, or nearly 100%, of the assets or ownership equity of the acquired entity. Consolidation occurs when two companies combine to form a new enterprise altogether, and neither of the previous companies remains independently, Acquisitions are divided into private and public acquisitions, depending on whether the acquiree or merging company is or is not listed on a public stock market. Some public companies rely on acquisitions as an important value creation strategy, an additional dimension or categorization consists of whether an acquisition is friendly or hostile. Achieving acquisition success has proven to be difficult, while various studies have shown that 50% of acquisitions were unsuccessful. Serial acquirers appear to be successful with M&A than companies who only make an acquisition occasionally. It is normal for M&A deal communications to take place in a so-called confidentiality bubble wherein the flow of information is restricted pursuant to confidentiality agreements. Hostile acquisitions can, and often do, ultimately become friendly and this usually requires an improvement in the terms of the offer and/or through negotiation. Acquisition usually refers to a purchase of a firm by a larger one. Sometimes, however, a firm will acquire management control of a larger and/or longer-established company. This is known as a reverse takeover, another type of acquisition is the reverse merger, a form of transaction that enables a private company to be publicly listed in a relatively short time frame. A reverse merger occurs when a privately held company buys a publicly listed company, usually one with no business. The overall net effect of M&A transactions appears to be positive, almost all studies report positive returns for the investors in the combined buyer and this implies that M&A creates economic value, presumably by transferring assets to management teams that operate them more efficiently. The buyer buys the assets of the target company, the cash the target receives from the sell-off is paid back to its shareholders by dividend or through liquidation. This type of leaves the target company as an empty shell. A buyer often structures the transaction as a purchase to cherry-pick the assets that it wants and leave out the assets
Acquisitions
–
Corporate finance
Acquisitions
–
Accounting
Acquisitions
–
Capital structure
4.
Marketing
–
Marketing is the study and management of exchange relationships. Marketing is used to create the customer, to keep the customer, with the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation. Other services and management activities such as Operations, Human Resources, Accounting, Law, the term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. The Chartered Institute of Marketing defines marketing as the management process responsible for identifying, anticipating and satisfying customer requirements profitably, a similar concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value. Marketing practice tended to be seen as an industry in the past. The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and it is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times, the term marketing concept pertains to the fundamental premise of modern marketing. This concept proposes that in order to satisfy its organizational objectives, Marketing and marketing concepts are directly related. An orientation, in the context, relates to a perception or attitude a firm holds towards its product or service. There exist several common orientations, A firm employing a product orientation is chiefly concerned with the quality of its own product, a firm would also assume that as long as its product was of a high standard, people would buy and consume the product. A firm using a sales orientation focuses primarily on the selling/promotion of a particular product, consequently, this entails simply selling an already existing product, and using promotion techniques to attain the highest sales possible. Such an orientation may suit scenarios in which a firm holds dead stock, or otherwise sells a product that is in high demand, a firm focusing on a production orientation specializes in producing as much as possible of a given product or service. Thus, this signifies a firm exploiting economies of scale, until the minimum efficient scale is reached, a production orientation may be deployed when a high demand for a product or service exists, coupled with a good certainty that consumer tastes do not rapidly alter. The marketing orientation is perhaps the most common used in contemporary marketing. It involves a firm essentially basing its marketing plans around the marketing concept, the marketing orientation often has three prime facets, which are, A firm in the market economy can survive by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firms future viability, in this sense, a firms marketing department is often seen as of prime importance within the functional level of an organization. Information from a marketing department would be used to guide the actions of other departments within the firm. As an example, a department could ascertain that consumers desired a new type of product
Marketing
–
Constructive criticism helps marketers adapt offerings to meet changing customer needs.
5.
Market research
–
Market research is any organized effort to gather information about target markets or customers. It is an important component of business strategy. Market research is one of the key used in maintaining competitiveness over competitors. Market research provides important information to identify and analyze the market need, market size, Market research began to be conceptualized and put into formal practice during the 1920s, as an offshoot of the advertising boom of the Golden Age of radio in the United States. Advertisers began to realize the significance of demographics revealed by sponsorship of different radio programs, Market research is a way of getting an overview of consumers wants, needs and beliefs. It can also involve discovering how they act, the research can be used to determine how a product could be marketed. Peter Drucker believed market research to be the quintessence of marketing, there are two major types of market research. Primary Research sub-divided into Quantitative and Qualitative research and Secondary research, Market researchers have a wider role than previously recognized by helping their clients to understand social, technical, and even legal aspects of markets. Market segmentation Market segmentation is the division of the market or population into subgroups with similar motivations, for B2B segmentation firmographics is commonly used. Market trends Market trends are the upward or downward movement of a market, determining the market size may be more difficult if one is starting with a new innovation. In this case, you will have to derive the figures from the number of potential customers, SWOT analysis SWOT is a written analysis of the Strengths, Weaknesses, Opportunities and Threats to a business entity. Not only should a SWOT be used in the stage of the company. A SWOT may also be written up for the competition to understand how to develop the marketing, another factor that can be measured is marketing effectiveness. It reduces the risks involved in making decisions as well as strategies, some major benefits are - i. Marketing research assists in providing accurate and latest trends related to demand, consumer behavior, sales and it helps in better understanding of the market, thus helps in product design, features and demand forecasts iii. It assists in studying and understanding the competitors, thus identifying unique selling propositions for a business, Market research reaps many such benefits which are Industry and business specific and have high ROIs. It is important to test marketing material for films to see how an audience will receive it and this is stimulated by product-enhancing websites, graphics, and content designed to attract casual surfing shoppers, researching for their particular needs, competitive prices and quality. According to the Small Business Administration, a business is significantly contributed to by gaining knowledge about customers, competitors
Market research
–
Gathering data
6.
Universities
–
A university is an institution of higher education and research which grants academic degrees in various academic disciplines. Universities typically provide undergraduate education and postgraduate education, the word university is derived from the Latin universitas magistrorum et scholarium, which roughly means community of teachers and scholars. Universities were created in Italy and evolved from Cathedral schools for the clergy during the High Middle Ages, the original Latin word universitas refers in general to a number of persons associated into one body, a society, company, community, guild, corporation, etc. Like other guilds, they were self-regulating and determined the qualifications of their members, an important idea in the definition of a university is the notion of academic freedom. The first documentary evidence of this comes from early in the life of the first university, the University of Bologna adopted an academic charter, the Constitutio Habita, in 1158 or 1155, which guaranteed the right of a traveling scholar to unhindered passage in the interests of education. Today this is claimed as the origin of academic freedom and this is now widely recognised internationally - on 18 September 1988,430 university rectors signed the Magna Charta Universitatum, marking the 900th anniversary of Bolognas foundation. The number of universities signing the Magna Charta Universitatum continues to grow, the university is generally regarded as a formal institution that has its origin in the Medieval Christian setting. The earliest universities were developed under the aegis of the Latin Church by papal bull as studia generalia and it is possible, however, that the development of cathedral schools into universities was quite rare, with the University of Paris being an exception. Later they were founded by Kings or municipal administrations. In the early period, most new universities were founded from pre-existing schools. Many historians state that universities and cathedral schools were a continuation of the interest in learning promoted by monasteries, the first universities in Europe with a form of corporate/guild structure were the University of Bologna, the University of Paris, and the University of Oxford. The students had all the power … and dominated the masters, princes and leaders of city governments perceived the potential benefits of having a scholarly expertise develop with the ability to address difficult problems and achieve desired ends. The emergence of humanism was essential to understanding of the possible utility of universities as well as the revival of interest in knowledge gained from ancient Greek texts. The rediscovery of Aristotles works–more than 3000 pages of it would eventually be translated–fuelled a spirit of inquiry into natural processes that had begun to emerge in the 12th century. Some scholars believe that these represented one of the most important document discoveries in Western intellectual history. Richard Dales, for instance, calls the discovery of Aristotles works a turning point in the history of Western thought and this became the primary mission of lecturers, and the expectation of students. The university culture developed differently in northern Europe than it did in the south, Latin was the language of the university, used for all texts, lectures, disputations and examinations. Professors lectured on the books of Aristotle for logic, natural philosophy, and metaphysics, while Hippocrates, Galen, outside of these commonalities, great differences separated north and south, primarily in subject matter
Universities
–
Degree ceremony at the
University of Oxford. The Pro-Vice-Chancellor in
MA gown and hood,
Proctor in official dress and new
Doctors of Philosophy in scarlet full dress. Behind them, a
bedel, a Doctor and Bachelors of Arts and Medicine graduate.
Universities
–
The
University of Bologna is the oldest University in history, founded in 1088.
Universities
–
Meeting of doctors at the
University of Paris. From a medieval manuscript.
Universities
–
Sapienza University of Rome is the largest university in Europe and one of the most prestigious European universities.
7.
Sovereign state
–
A sovereign state is, in international law, a nonphysical juridical entity that is represented by one centralized government that has sovereignty over a geographic area. International law defines sovereign states as having a permanent population, defined territory, one government, and it is also normally understood that a sovereign state is neither dependent on nor subjected to any other power or state. The existence or disappearance of a state is a question of fact, States came into existence as people gradually transferred their allegiance from an individual sovereign to an intangible but territorial political entity, of the state. States are but one of political orders that emerged from feudal Europe, others being city states, leagues. Westphalian sovereignty is the concept of sovereignty based on territoriality. It is a system of states, multinational corporations. Sovereignty is a term that is frequently misused and that position was reflected and constituted in the notion that their sovereignty was either completely lacking, or at least of an inferior character when compared to that of civilised people. Lassa Oppenheim said There exists perhaps no conception the meaning of which is more controversial than that of sovereignty. It is a fact that this conception, from the moment when it was introduced into political science until the present day, has never had a meaning which was universally agreed upon. In the opinion of H. V. Evatt of the High Court of Australia, sovereignty is neither a question of fact, nor a question of law, but a question that does not arise at all. The right of nations to determine their own status and exercise permanent sovereignty within the limits of their territorial jurisdictions is widely recognized. The Westphalian model of sovereignty has increasingly come under fire from the non-west as a system imposed solely by Western Colonialism. What this model did was make religion a subordinate to politics and this system does not fit in the Islamic world because concepts such as separation of church and state and individual conscience are not recognised in the Islamic religion as social systems. Nation denotes a people who are believed to or deemed to share common customs, religion, language, origins, however, the adjectives national and international are frequently used to refer to matters pertaining to what are strictly sovereign states, as in national capital, international law. State refers to the set of governing and supportive institutions that have sovereignty over a definite territory, State recognition signifies the decision of a sovereign state to treat another entity as also being a sovereign state. Recognition can be expressed or implied and is usually retroactive in its effects. It does not necessarily signify a desire to establish or maintain diplomatic relations, There is no definition that is binding on all the members of the community of nations on the criteria for statehood. In actual practice, the criteria are mainly political, not legal, in international law, however, there are several theories of when a state should be recognised as sovereign
Sovereign state
–
Member states of the
United Nations, all of which are sovereign states, though not all sovereign states are necessarily members
8.
Commerce
–
Commerce is the activity of buying and selling of goods and services, especially on a large scale. The system includes legal, economic, political, social, cultural and technological systems that are in operation in any country or internationally, commerce is derived from the Latin commercium, from cum, together, and merx, merchandise. Some commentators trace the origins of commerce to the start of transaction in prehistoric times. Apart from traditional self-sufficiency, trading became a facility of prehistoric people. Historian Peter Watson and Ramesh Manickam dates the history of commerce from circa 150,000 years ago. In historic times, the introduction of currency as a money, facilitated a wider exchange of goods. Numismatists have collections of these tokens, which include coins from some Ancient World large-scale societies. For example, if a man who makes pots for a living needs a new house, he/she may wish to hire someone to build it for him/her. But he/she cannot make an equivalent number of pots to equal this service done for him/her, because if the builder could build the house. During the Middle Ages, commerce developed in Europe by trading luxury goods at trade fairs, wealth became converted into movable wealth or capital. Banking systems developed where money on account was transferred across national boundaries, hand to hand markets became a feature of town life, and were regulated by town authorities. Today commerce includes as a subset a complex system of companies which try to maximize their profits by offering products and services to the market at the lowest production cost
Commerce
–
The
caduceus has been used today as the symbol of commerce with which
Mercury has traditionally been associated.
9.
Science
–
Science is a systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe. The formal sciences are often excluded as they do not depend on empirical observations, disciplines which use science, like engineering and medicine, may also be considered to be applied sciences. However, during the Islamic Golden Age foundations for the method were laid by Ibn al-Haytham in his Book of Optics. In the 17th and 18th centuries, scientists increasingly sought to formulate knowledge in terms of physical laws, over the course of the 19th century, the word science became increasingly associated with the scientific method itself as a disciplined way to study the natural world. It was during this time that scientific disciplines such as biology, chemistry, Science in a broad sense existed before the modern era and in many historical civilizations. Modern science is distinct in its approach and successful in its results, Science in its original sense was a word for a type of knowledge rather than a specialized word for the pursuit of such knowledge. In particular, it was the type of knowledge which people can communicate to each other, for example, knowledge about the working of natural things was gathered long before recorded history and led to the development of complex abstract thought. This is shown by the construction of calendars, techniques for making poisonous plants edible. For this reason, it is claimed these men were the first philosophers in the strict sense and they were mainly speculators or theorists, particularly interested in astronomy. In contrast, trying to use knowledge of nature to imitate nature was seen by scientists as a more appropriate interest for lower class artisans. A clear-cut distinction between formal and empirical science was made by the pre-Socratic philosopher Parmenides, although his work Peri Physeos is a poem, it may be viewed as an epistemological essay on method in natural science. Parmenides ἐὸν may refer to a system or calculus which can describe nature more precisely than natural languages. Physis may be identical to ἐὸν and he criticized the older type of study of physics as too purely speculative and lacking in self-criticism. He was particularly concerned that some of the early physicists treated nature as if it could be assumed that it had no intelligent order, explaining things merely in terms of motion and matter. The study of things had been the realm of mythology and tradition, however. Aristotle later created a less controversial systematic programme of Socratic philosophy which was teleological and he rejected many of the conclusions of earlier scientists. For example, in his physics, the sun goes around the earth, each thing has a formal cause and final cause and a role in the rational cosmic order. Motion and change is described as the actualization of potentials already in things, while the Socratics insisted that philosophy should be used to consider the practical question of the best way to live for a human being, they did not argue for any other types of applied science
Science
–
Maize, known in some English-speaking countries as corn, is a large
grain plant domesticated by
indigenous peoples in
Mesoamerica in
prehistoric times.
Science
–
The scale of the universe mapped to the branches of science and the hierarchy of science.
Science
–
Aristotle, 384 BC – 322 BC, - one of the early figures in the development of the
scientific method.
Science
–
Galen (129—c.216) noted the optic chiasm is X-shaped. (Engraving from
Vesalius, 1543)
10.
Technology
–
Technology is the collection of techniques, skills, methods and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques, processes, and the like, the human species use of technology began with the conversion of natural resources into simple tools. The steady progress of technology has brought weapons of ever-increasing destructive power. It has helped develop more advanced economies and has allowed the rise of a leisure class, many technological processes produce unwanted by-products known as pollution and deplete natural resources to the detriment of Earths environment. Various implementations of technology influence the values of a society and raise new questions of the ethics of technology, examples include the rise of the notion of efficiency in terms of human productivity, and the challenges of bioethics. Philosophical debates have arisen over the use of technology, with disagreements over whether technology improves the condition or worsens it. The use of the technology has changed significantly over the last 200 years. Before the 20th century, the term was uncommon in English, the term was often connected to technical education, as in the Massachusetts Institute of Technology. The term technology rose to prominence in the 20th century in connection with the Second Industrial Revolution, the terms meanings changed in the early 20th century when American social scientists, beginning with Thorstein Veblen, translated ideas from the German concept of Technik into technology. In German and other European languages, a distinction exists between technik and technologie that is absent in English, which translates both terms as technology. By the 1930s, technology referred not only to the study of the industrial arts, dictionaries and scholars have offered a variety of definitions. Ursula Franklin, in her 1989 Real World of Technology lecture, gave another definition of the concept, it is practice, the way we do things around here. The term is used to imply a specific field of technology, or to refer to high technology or just consumer electronics. Bernard Stiegler, in Technics and Time,1, defines technology in two ways, as the pursuit of life by other than life, and as organized inorganic matter. Technology can be most broadly defined as the entities, both material and immaterial, created by the application of mental and physical effort in order to some value. In this usage, technology refers to tools and machines that may be used to solve real-world problems and it is a far-reaching term that may include simple tools, such as a crowbar or wooden spoon, or more complex machines, such as a space station or particle accelerator. Tools and machines need not be material, virtual technology, such as software and business methods. W. Brian Arthur defines technology in a broad way as a means to fulfill a human purpose
Technology
–
A
steam turbine with the case opened. Most electricity is produced by
thermal power stations with turbines like this one. Electricity consumption and living standards are highly correlated.
Electrification was voted the most important engineering achievement of the 20th century.
Technology
–
The spread of paper and printing to the West, exemplified by the
printing press, made it possible for
scientists and
politicians to communicate their ideas with ease, leading to the
Age of Enlightenment; an example of technology as a cultural force.
Technology
–
The invention of integrated circuits and the
microprocessor (here, an
Intel 4004 chip from 1971) led to the modern
computer revolution.
Technology
–
Antoine Lavoisier conducting an experiment with combustion generated by amplified sun light
11.
Statistics
–
Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, e. g. a scientific, industrial, or social problem, populations can be diverse topics such as all people living in a country or every atom composing a crystal. Statistics deals with all aspects of data including the planning of data collection in terms of the design of surveys, statistician Sir Arthur Lyon Bowley defines statistics as Numerical statements of facts in any department of inquiry placed in relation to each other. When census data cannot be collected, statisticians collect data by developing specific experiment designs, representative sampling assures that inferences and conclusions can safely extend from the sample to the population as a whole. In contrast, an observational study does not involve experimental manipulation, inferences on mathematical statistics are made under the framework of probability theory, which deals with the analysis of random phenomena. A standard statistical procedure involves the test of the relationship between two data sets, or a data set and a synthetic data drawn from idealized model. A hypothesis is proposed for the relationship between the two data sets, and this is compared as an alternative to an idealized null hypothesis of no relationship between two data sets. Rejecting or disproving the hypothesis is done using statistical tests that quantify the sense in which the null can be proven false. Working from a hypothesis, two basic forms of error are recognized, Type I errors and Type II errors. Multiple problems have come to be associated with this framework, ranging from obtaining a sufficient sample size to specifying an adequate null hypothesis, measurement processes that generate statistical data are also subject to error. Many of these errors are classified as random or systematic, the presence of missing data or censoring may result in biased estimates and specific techniques have been developed to address these problems. Statistics continues to be an area of research, for example on the problem of how to analyze Big data. Statistics is a body of science that pertains to the collection, analysis, interpretation or explanation. Some consider statistics to be a mathematical science rather than a branch of mathematics. While many scientific investigations make use of data, statistics is concerned with the use of data in the context of uncertainty, mathematical techniques used for this include mathematical analysis, linear algebra, stochastic analysis, differential equations, and measure-theoretic probability theory. In applying statistics to a problem, it is practice to start with a population or process to be studied. Populations can be diverse topics such as all living in a country or every atom composing a crystal. Ideally, statisticians compile data about the entire population and this may be organized by governmental statistical institutes
Statistics
–
Scatter plots are used in descriptive statistics to show the observed relationships between different variables.
Statistics
–
More
probability density is found as one gets closer to the expected (mean) value in a
normal distribution. Statistics used in
standardized testing assessment are shown. The scales include
standard deviations, cumulative percentages, percentile equivalents, Z-scores, T-scores, standard nines, and percentages in standard nines.
Statistics
–
Gerolamo Cardano, the earliest pioneer on the mathematics of probability.
Statistics
–
Karl Pearson, a founder of mathematical statistics.
12.
Industry
–
Industry is the production of goods or related services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry, when a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and this came through many successive rapid advances in technology, such as the production of steel and coal. Following the Industrial Revolution, possibly a third of the economic output are derived that is from manufacturing industries. Many developed countries and many developing/semi-developed countries depend significantly on manufacturing industry, Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence. Industries can be classified in a variety of ways, at the top level, industry is often classified according to the three-sector theory into sectors, primary, secondary, and tertiary. Some authors add quaternary or even quinary sectors, over time, the fraction of a societys industry within each sector changes. Below the economic sectors there are other more detailed industry classifications. These classification systems commonly divide industries according to functions and markets. Market-based classification systems such as the Global Industry Classification Standard and the Industry Classification Benchmark are used in finance, the International Standard Industrial Classification of all economic activities is the most complete and systematic industrial classification made by the United Nations Statistics Division. ISIC is a classification of economic activities arranged so that entities can be classified according to the activity they carry out. The Industrial Revolution led to the development of factories for large-scale production, originally the factories were steam-powered, but later transitioned to electricity once an electrical grid was developed. The mechanized assembly line was introduced to parts in a repeatable fashion. This led to significant increases in efficiency, lowering the cost of the end process, later automation was increasingly used to replace human operators. This process has accelerated with the development of the computer and the robot, historically certain manufacturing industries have gone into a decline due to various economic factors, including the development of replacement technology or the loss of competitive advantage. An example of the former is the decline in manufacturing when the automobile was mass-produced. A recent trend has been the migration of prosperous, industrialized nations towards a post-industrial society and this is manifested by an increase in the service sector at the expense of manufacturing, and the development of an information-based economy, the so-called informational revolution. In a post-industrial society, manufacturing is relocated to more favourable locations through a process of off-shoring
Industry
–
A factory, a traditional symbol of the industrial development (a
paper mill in
Georgetown, the United States)
Industry
–
GDP composition of sector and labour force by occupation in the form of any component to economy. The green, red, and blue components of the colours of the countries represent the percentages for the
agriculture, industry, and
services sectors, respectively.
Industry
–
A female industrial
worker amidst heavy steel semi-products (KINEX BEARINGS,
Bytča,
Slovakia, c. 1995–2000)
Industry
–
The assembly plant of the
Bell Aircraft Corporation (
Wheatfield, New York, United States, 1944) producing Aircobra P 39 aircraft
13.
Competition
–
It arises whenever at least two parties strive for a goal which cannot be shared, where ones gain is the others loss. Competition occurs naturally between living organisms which co-exist in the same environment, for example, animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame. Competition is often considered to be the opposite of cooperation, however in the real world, optimal strategies to achieve goals are studied in the branch of mathematics known as games theory. Also competition inside a company is usually stimulated with the purpose of meeting and reaching higher quality of services or improved products that the company may produce or develop. Competition can have both beneficial and detrimental effects, many evolutionary biologists view inter-species and intra-species competition as the driving force of adaptation, and ultimately of evolution. However, some disagree, citing competition as a driving force only on a small scale. Some social Darwinists claim that competition also serves as a mechanism for determining the best-suited group, positively, competition may serve as a form of recreation or a challenge provided that it is non-hostile. On the negative side, competition can cause injury and loss to the organisms involved, competition within, between, and among species is one of the most important forces in biology, especially in the field of ecology. Third parties within a species often favour highly competitive strategies leading to extinction when environmental conditions are harsh. Competition is also present between species, when resources are limited, several species may depend on these resources. Thus, each of the species competes with the others to access to the resources. As a result, species less suited to compete for the resources may die out unless they adapt by character dislocation, according to evolutionary theory, this competition within and between species for resources plays a significant role in natural selection. This is illustrated by living plant communities where asymmetric competition and competitive dominance frequently occur, game theory is the study of mathematical models of conflict and cooperation between intelligent rational decision-makers. Game theory is used in economics, political science, and psychology, as well as logic, computer science, biology. Originally, it mainly addressed zero-sum games, in one persons gains result in losses for the other participants. Game theory is a method used in mathematical economics and business for modeling competing behaviors of interacting agents. This research usually focuses on particular sets of strategies known as solution concepts or equilibria, a common assumption is that players act rationally
Competition
–
Competition in sports. A selection of images showing some of the sporting events that are classed as
athletics competitions.
Competition
–
The
Department of Justice building in
Washington, D.C. is home to the influential
antitrust enforcers of U.S. competition laws
Competition
–
The
USOC 's headquarters in
Colorado Springs, Colorado. The
Olympic Games are regarded as the international pinnacle of sports competition.
Competition
–
Baseball, a competitive sport
14.
Budget
–
A budget is a quantitative expression of a financial plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and it expresses strategic plans of business units, organizations, activities or events in measurable terms. A budget is the sum of money allocated for a particular purpose, a budget is a quantified financial plan for a forthcoming accounting period. A budget is an important concept in microeconomics, which uses a line to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms and it also helps to co-ordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments. Other essentials of budget include, To control resources To communicate plans to various responsibility center managers, to motivate managers to strive to achieve budget goals. Tools enable the actual operation of the business to be measured against the forecast. Lastly, tools establish the cost constraint for a project, program, on the other hand, if the figures diverge wildly from the budget, this sends an out of control signal, and the share price could suffer. Campaign planners incur two types of cost in any campaign, the first is the cost of human resource necessary to plan, the second type of expense that campaign planners incur is the hard cost of the campaign itself. A budget is a tool for an event director to predict with a reasonable accuracy whether the event will result in a profit. A budget can also be used as a pricing tool, there are two basic approaches or philosophies, when it comes to budgeting. One approach is telling you on mathematical models, and the other on people, the first school of thought believes that financial models, if properly constructed, can be used to predict the future. The focus is on variables, inputs and outputs, drivers, investments of time and money are devoted to perfecting these models, which are typically held in some type of financial spreadsheet application. The other school of thought holds that it’s not about models, no matter how sophisticated models can get, the best information comes from the people in the business. The focus is therefore in engaging the managers in the more fully in the budget process. The companies that adhere to this approach have their managers develop their own budgets, while many companies would say that they do both, in reality the investment of time and money falls squarely in one approach or the other. The budget of a government is a summary or plan of the revenues and expenditures of that government. There are three types of government budget, the operating or current budget, the capital or investment budget, the budget is prepared by the Treasury team led by the Chancellor of the Exchequer and is presented to Parliament by the Chancellor of the Exchequer on Budget Day
Budget
–
Brooklyn Museum - Comme Sisyphe - Honoré Daumier
15.
Patent
–
A patent is a set of exclusive rights granted by a sovereign state to an inventor or assignee for a limited period of time in exchange for detailed public disclosure of an invention. An invention is a solution to a technological problem and is a product or a process. Patents are a form of intellectual property, the procedure for granting patents, requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements. Typically, however, a patent application must include one or more claims that define the invention. A patent may include many claims, each of which defines a specific property right and these claims must meet relevant patentability requirements, such as novelty, usefulness, and non-obviousness. Nevertheless, there are variations on what is patentable subject matter from country to country, the word patent originates from the Latin patere, which means to lay open. More directly, it is a version of the term letters patent. Similar grants included land patents, which were land grants by early state governments in the USA, and printing patents, a precursor of modern copyright. In modern usage, the term patent usually refers to the granted to anyone who invents any new, useful. The additional qualification utility patent is used to distinguish the primary meaning from these other types of patents. Particular species of patents for inventions include biological patents, business method patents, chemical patents, the period of protection was 10 years. These were mostly in the field of glass making, as Venetians emigrated, they sought similar patent protection in their new homes. This led to the diffusion of patent systems to other countries, by the 16th century, the English Crown would habitually abuse the granting of letters patent for monopolies. After public outcry, King James I of England was forced to revoke all existing monopolies, the Statute became the foundation for later developments in patent law in England and elsewhere. Important developments in patent law emerged during the 18th century through a process of judicial interpretation of the law. During the reign of Queen Anne, patent applications were required to supply a complete specification of the principles of operation of the invention for public access. Influenced by the philosophy of John Locke, the granting of patents began to be viewed as a form of property right. The English legal system became the foundation for patent law in countries with a common law heritage, including the United States, New Zealand, in the Thirteen Colonies, inventors could obtain patents through petition to a given colonys legislature
Patent
–
U.S patent
Patent
–
James Puckle 's 1718
early autocannon was one of the first inventions required to provide a specification for a patent.
Patent
–
The plate of the Martin
ejector seat of a military aircraft, stating that the design is covered by multiple patents in Britain, South Africa, Canada and "others".
Dübendorf Museum of Military Aviation.
16.
Publication
–
To publish is to make content available to the general public. While specific use of the term may vary among countries, it is applied to text, images, or other audio-visual content on any traditional medium. The word publication means the act of publishing, and also refers to any printed copies, publication is a technical term in legal contexts and especially important in copyright legislation. An author of a work generally is the owner of the copyright on the work. One of the granted to the author of a work is the exclusive right to publish the work. In the United States, publication is defined as, the distribution of copies or phonorecords of a work to the public by sale or other transfer of ownership, or by rental, lease, or lending. The offering to distribute copies or phonorecords to a group of people for purposes of distribution, public performance, or public display. A public performance or display of a work not of itself constitute publication. Many countries around the world follow this definition, although some make some exceptions for particular kinds of works, in Germany, §6 of the Urheberrechtsgesetz additionally considers works of the visual arts published if they have been made permanently accessible by the general public. Australia and the UK do not have this exception and generally require the distribution of copies necessary for publication, in the case of sculptures, the copies must be even three-dimensional. In biological classification, the publication of the description of a taxon has to comply with some rules, the definition of the publication is defined in nomenclature codes. Traditionally there were the rules, The publication must be generally available. The date of publication is the date the published material became generally available, electronic publication with some restrictions is permitted for publication of scientific names of fungi since 1 January 2013. There is a variety of material types of publication, some of which are, Book. Bulletin, Information written in short on a flyer or inside another publication for public viewing, bulletins are also brief messages or announcements broadcast to a wide audience by way of TV, radio, or internet. Booklet, Leaflet of more than one sheet of paper, usually attached in the style of a book, broadside, A large single sheet of paper printed on one side, designed to be plastered onto walls. Produced from 16th - 19th cent, became obsolete with the development of newspapers and cheap novels. Flyer or handbill, A small sheet of printed on one side, designed to be handed out free Leaflet
Publication
–
Printing
17.
High technology
–
High technology, often abbreviated to high tech is technology that is at the cutting edge, the most advanced technology available. As of the onset of the 21st century, products considered high tech are often those that incorporate advanced computer electronics, the opposite of high tech is low technology, referring to simple, often traditional or mechanical technology, for example, a calculator is a low-tech calculating device. Perhaps the first occurrence of the phrase is in a 1958 The New York Times story advocating atomic energy for Europe, western Europe, with its dense population and its high technology. By 1969, Robert Metz was using it in a financial column, Metz used the term frequently thereafter, a few months later he was using it with a hyphen, saying that a fund holds computer peripheral. Business equipment, and high-technology stocks, and in a 1971 article in its first occurrence in the abbreviated form high tech, because the high-tech sector of the economy develops or uses the most advanced technology known, it is often seen as having the most potential for future growth. This perception has led to investment in high-tech sectors of the economy. High tech is often viewed as high risk, but offering the opportunity for high profits, like Big Science, high technology is an international phenomenon, spanning continents, epitomized by the worldwide communication of the Internet. There are several high technology definitions that can be found, moreover, there are many problems with identifying high technology. There are large diversity of definitions that are used, here is a short overview of a number of different techniques to define high technology. OECD has two different approaches, sector and product, the sector approach classifies industries according their technology intensity, product approach according to finished products. The OECD does not only take the manufacturing but also the rate of technology into account. The OECDs classification is as follows, Furthermore, OECD’s product-based classification supports the technology intensity approach and it can be concluded that companies in a high-tech industry do not necessarily produce high-tech products and vice versa. When speaking of a society in a non-literal way, it is usually in reference to an overall society based in high-tech. However, this is something generally unattainable by the definition comprising its scarcity among every technology available, one website, belonging to Carver Networks, owned by entrepreneur and founder Kimberly Carver, adopted the term as a legal name in June 2012. An organizations department dealing with the latest technology in their projects, may also be considered a high-tech microsociety within the organizations, students and faculty related with ENAEE or ABET accredited programs might be considered high-tech society members, regarding other traditional degrees. In industry, companies working in the edge may be considered high-tech societies along with its main competitors. Low technology Intermediate technology - sometimes used to technology between low and high technology Industrial design List of emerging technologies
High technology
–
Automotive plant using
industrial robotics technology
18.
Pharmaceutical company
–
The pharmaceutical industry discovers, develops, produces, and markets drugs or pharmaceutical drugs for use as medications. Pharmaceutical companies may deal in generic or brand medications and medical devices and they are subject to a variety of laws and regulations that govern the patenting, testing, safety, efficacy and marketing of drugs. The modern pharmaceutical industry traces its roots to two sources, the first of these were local apothecaries that expanded from their traditional role distributing botanical drugs such as morphine and quinine to wholesale manufacture in the mid 1800s. Multinational corporations including Merck, Hoffman-La Roche, Burroughs-Wellcome, Abbott Laboratories, Eli Lilly, in 1897, John Abel of Johns Hopkins University identified the active principle as epinephrine, which he isolated in an impure state as the sulfate salt. Industrial chemist Jokichi Takamine later developed a method for obtaining epinephrine in a pure state, Parke Davis marketed epinephrine under the trade name Adrenalin. Injected epinephrine proved to be efficacious for the acute treatment of asthma attacks. By 1929 epinephrine had been formulated into an inhaler for use in the treatment of nasal congestion, while highly effective, the requirement for injection limited the use of norepinephrine and orally active derivatives were sought. A structurally similar compound, ephedrine, was identified by Japanese chemists in the Ma Huang plant, following the work of Henry Dale and George Barger at Burroughs-Wellcome, academic chemist Gordon Alles synthesized amphetamine and tested it in asthma patients in 1929. The drug proved to have only modest anti-asthma effects, but produced sensations of exhilaration, amphetamine was developed by Smith, Kline and French as a nasal decongestant under the trade name Benzedrine Inhaler. Amphetamine was eventually developed for the treatment of narcolepsy, post-encepheletic parkinsonism, the discovery was patented and licensed to Bayer pharmaceuticals, which marketed the compound under the trade name Veronal as a sleep aid beginning in 1904. Phenobarbital was among the most widely used drugs for the treatment of epilepsy through the 1970s, today, amphetamine is largely restricted to use in the treatment of attention deficit disorder and phenobarbital in the treatment of epilepsy. A series of experiments performed from the late 1800s to the early 1900s revealed that diabetes is caused by the absence of a substance produced by the pancreas. In 1869, Oskar Minkowski and Joseph von Mering found that diabetes could be induced in dogs by surgical removal of the pancreas. In 1921, Canadian professor Frederick Banting and his student Charles Best repeated this study, the researchers sought assistance from industrial collaborators at Eli Lilly and Co. based on the companys experience with large scale purification of biological materials. Chemist George Walden of Eli Lilly and Company found that careful adjustment of the pH of the extract allowed a relatively pure grade of insulin to be produced, prior to the discovery and widespread availability of insulin therapy the life expectancy of diabetics was only a few months. In 1911 arsphenamine, the first synthetic drug, was developed by Paul Ehrlich. The drug was given the commercial name Salvarsan, arsphenamine was prepared as part of a campaign to synthesize a series of such compounds, and found to exhibit partially selective toxicity. Arsphenamine proved to be the first effective treatment for syphilis, a disease which prior to time was incurable and led inexorably to severe skin ulceration, neurological damage
Pharmaceutical company
–
Gleevec, a
drug used in the treatment of several
cancers, is marketed by
Novartis, one of the world's major
pharmaceutical companies.
Pharmaceutical company
–
Diethylbarbituric acid was the first marketed barbiturate. It was sold by Bayer under the trade name Veronal
Pharmaceutical company
–
In 1937 over 100 people died after ingesting a solution of the antibacterial
sulfanilamide formulated in the toxic solvent diethylene glycol
Pharmaceutical company
–
Percent surviving by age in 1900, 1950, and 1997.
19.
Novartis
–
Novartis International AG is a Swiss multinational pharmaceutical company based in Basel, Switzerland. It is one of the largest pharmaceutical companies by market cap and sales. Novartis manufactures such drugs as clozapine, diclofenac, carbamazepine, valsartan, additional agents include ciclosporin, letrozole, methylphenidate, terbinafine, and others. In 1996, Ciba-Geigy merged with Sandoz, and the pharmaceutical and agrochemical divisions of companies formed Novartis as an independent entity. Other Ciba-Geigy and Sandoz businesses were sold, or like Ciba Specialty Chemicals, the Sandoz brand disappeared for 3 years, but was revived in 2003 when Novartis consolidated its generic drugs businesses into a single subsidiary and named it Sandoz. Novartis divested its agrochemical and genetically modified crops business in 2000 with the spinout of Syngenta in partnership with AstraZeneca, Novartis AG is a publicly traded Swiss holding company that operates through the Novartis Group. Novartis AG owns, directly or indirectly, all companies worldwide that operate as subsidiaries of the Novartis Group, the businesses of Novartis are divided into three operating divisions, Pharmaceuticals, Alcon and Sandoz. Novartis AG also holds 33. 3% of the shares of Roche however, Novartis also owned 24. 9% of Idenix Pharmaceuticals prior to its sale to Merck & Co, Inc. Novartis also has two significant license agreements with Genentech, a Roche subsidiary, one agreement is for Lucentis, the other is for Xolair, both of which Novartis markets outside the US. Novartis has established a centre at Hyderabad, India, in order to offshore several of its R&D, clinical development, medical writing. The global service centre began in 2001 with 17 people and Hyderabad was chosen from a shortlist of 23 cities including Pune, Chennai, the centre supports the drug major’s operations in the pharmaceuticals, eye care and generic drugs segments. This centre is more than 870,000 square feet in size, overall, Novartis was the worlds second largest pharmaceutical company in 2011. An IMS Health report ranked Novartis as the biggest pharma company in 2012, Alcon, Alcon was already the worlds largest and most profitable eye care company when Novartis bought it, with 2009 annual sales of $6.5 billion and net income of $2 billion. At that time, Novartis stated that it believed the two companies could generate approximately $200 million of potential annual pre-tax cost synergies. Sandoz, As of 2013, Sandoz was the second largest generic drug company. Sandoz biosimilars leads its field, getting the first biosimilar approvals in the EU, Vaccines and Diagnostics, As of 2013 Novartis was considering selling this division off. While sales in the unit were up 14% for the first half of 2013, vaccine revenue was $1.4 billion in 2012 and has been forecast to more than double to $3.14 billion by 2018. In 2012, Novartis ranked 7th on the Access to Medicine Index, in 2010, Novartis was in the top three pharma companies
Novartis
–
Novartis headquarters in
Basel
Novartis
–
Suffern, New York: one of the Novartis pharmaceutical production facilities in the United States
20.
Ericsson
–
Ericsson is a multinational networking and telecommunications equipment and services company headquartered in Stockholm, Sweden. Ericsson had 35% market share in the 2G/3G/4G mobile network infrastructure market in 2012, the company was founded in 1876 by Lars Magnus Ericsson, as of 2016 it is headquartered in Stockholm, Sweden. The company employs around 113,000 people and operates in around 180 countries, Ericsson holds over 39,000 granted patents as of May 2015, including many in wireless communications. Lars Magnus Ericsson began his association with telephones in his youth as an instrument maker and he worked for a firm that made telegraph equipment for the Swedish government agency Telegrafverket. In 1876, at the age of 30, he started a repair shop with help from his friend Carl Johan Andersson in central Stockholm. In 1878 Ericsson began making and selling his own telephone equipment and his telephones were not technically innovative. In 1878 he made an agreement to supply telephones and switchboards to Swedens first telecommunications operating company, also in 1878, local telephone importer Numa Peterson hired Ericsson to adjust some telephones from the Bell Telephone Company. He bought a number of Siemens telephones and analyzed the technology and he was familiar with Bell and Siemens Halske telephones through his firms repair work for Telegrafverket and Swedish Railways. He improved these designs to produce a higher-quality instrument to be used by new companies such as Rikstelefon to provide cheaper service than the Bell Group. Ericsson had no patent or royalty problems because Bell had not patented their inventions in Scandinavia and his training as an instrument maker was reflected in the standard of finish and the ornate design of Ericsson telephones of this period. At the end of the year he started to manufacture telephones much like those of Siemens, Ericsson became a major supplier of telephone equipment to Scandinavia. Its factory could not keep up with demand, joinery and metal-plating were contracted out, much of its raw materials were imported, in the following decades Ericsson bought into a number of firms to ensure supplies of brass, wire, ebonite, and magnet steel. Much of the wood used for cabinets was imported from the United States. Stockholms telephone network expanded that year and the company reformed into a telephone manufacturer, when Bell bought the biggest telephone network in Stockholm, it only allowed its own telephones to be used with it. Ericssons equipment was mainly to free telephone associations in the Swedish countryside. The prices of Bell equipment and services led Henrik Tore Cedergren to form an independent telephone company called Stockholms Allmänna Telefonaktiebolag in 1883, as Bell would not deliver equipment to competitors, he formed a pact with Ericsson to supply the equipment for his new telephone network. In 1918 the companies were merged into Allmänna Telefonaktiebolaget LM Ericsson, in 1884, a multiple-switchboard manual telephone exchange was mostly copied from a design by C. E. Scribner at Western Electric. This was legal because the device was not patented in Sweden, a single switchboard could handle up to 10,000 lines
Ericsson
–
Lars Magnus Ericsson
Ericsson
–
Telefonaktiebolaget L. M. Ericsson
Ericsson
–
An early, wooden, Ericsson telephone, made by the Ericsson Telephone Co. Ltd., of
Nottingham, England, it is now in the collection of
Thinktank, Birmingham Science Museum.
Ericsson
–
LM Ericsson's former headquarters at
Telefonplan in
Stockholm, see LM Ericsson building.
21.
Allergan
–
Allergan, Plc is a multi-national pharmaceutical that produces branded and generic drugs, and performs pharmaceutical research and development. It was formed on February 18,2015, when the formerly known as Actavis. This was completed as of June 15,2015, Actavis, Plc then became Actavis which now forms the American Generics division of the company. After the acquisition of Allergan, Inc by Actavis, Plc, the new company made its first acquisition on July 6, on July 7 the company announced it would acquire Merck & Cos late stage CGRP migraine portfolio, as well as two experimental drugs for $250 million. In July, Allergan agreed to sell off its small molecule generic drug business, Actavis, to Teva Pharmaceutical Industries for $40.5 billion, a day later, the company announced it would acquire Naurex Inc for $560 million with more tied to regulatory milestones. In September the company announced it would acquire ophthalmic device start-up AqueSys for $300 million plus future sums tied to approval/sales milestones, in November the company acquired aesthetic device company Northwood Medical Innovation. Any merger with Allergan would then also give Pfizer the ability to re-domicile to Ireland, as part of the deal, Pfizer CEO Ian Read would have remained CEO and Chairman of the combined company, with Allergan CEO, Brent Saunders, becoming President and Chief operating officer. As part of the deal Allergan shareholders will receive 11.3 shares of the company, Pfizer discontinued the acquisition on 5 April 2016, after the Obama administration announced its plan to move ahead with a resolution banning this form of tax avoidance, known as a tax inversion. Pfizer will pay Allergan a breakup fee of $150 million, in August the company acquired ForSight VISION5 for more than $95 million, expanding Allergans offering in eye-care. In September, the company announced it would acquire RetroSense Therapeutics for more than $60 million, gaining the positive photosensitivity gene therapy treatment, RST-001. RST-100 is to be used in retinas in which rod and cone photoreceptors have degenerated over time, the two latter acquisitions aimed at boosting Allergans liver disease portfolio. In October, the company announced it would acquire Motus Therapeutics, further expanding its presence in the gastrointestinal market, in November 2016 the company acquired Chase Pharmaceuticals. On December 21, the company announced it would acquire LifeCell Corp. a specialist in regenerative medicine, on March 17,2015, Actavis, plc completed the acquisition of Allergan, inc in a cash and equity transaction valued at approximately $70.5 billion. The combination created a $23 billion diversified global pharmaceutical company with commercial reach across 100 countries, in June 2015, Actavis, plc officially changed its name to Allergan, plc. In 2016, the company restructured into four divisions, US Specialised Therapeutics US General Medicine, the fourth division consisted solely of the Anda distribution company, which has since been sold. Biotech and pharmaceutical companies in the New York metropolitan area Official website
Allergan
22.
Biotech
–
Depending on the tools and applications, it often overlaps with the fields of bioengineering, biomedical engineering, biomanufacturing, molecular engineering, etc. For thousands of years, humankind has used biotechnology in agriculture, food production, the term is largely believed to have been coined in 1919 by Hungarian engineer Károly Ereky. Modern usage also includes genetic engineering as well as cell and tissue culture technologies, as per European Federation of Biotechnology, biotechnology is the integration of natural science and organisms, cells, parts thereof, and molecular analogues for products and services. Biotechnology also writes on the biological sciences. By contrast, bioengineering is generally thought of as a field that more heavily emphasizes higher systems approaches for interfacing with. Bioengineering is the application of the principles of engineering and natural sciences to tissues, cells and this can be considered as the use of knowledge from working with and manipulating biology to achieve a result that can improve functions in plants and animals. Although not normally what first comes to mind, many forms of human-derived agriculture clearly fit the definition of utilizing a biotechnological system to make products. Indeed, the cultivation of plants may be viewed as the earliest biotechnological enterprise, Agriculture has been theorized to have become the dominant way of producing food since the Neolithic Revolution. Through early biotechnology, the earliest farmers selected and bred the best suited crops, having the highest yields and these processes also were included in early fermentation of beer. These processes were introduced in early Mesopotamia, Egypt, China and India, in brewing, malted grains convert starch from grains into sugar and then adding specific yeasts to produce beer. In this process, carbohydrates in the grains were broken down into alcohols such as ethanol, later other cultures produced the process of lactic acid fermentation which allowed the fermentation and preservation of other forms of food, such as soy sauce. Fermentation was also used in time period to produce leavened bread. Although the process of fermentation was not fully understood until Louis Pasteurs work in 1857, before the time of Charles Darwins work and life, animal and plant scientists had already used selective breeding. Darwin added to body of work with his scientific observations about the ability of science to change species. These accounts contributed to Darwins theory of natural selection, for thousands of years, humans have used selective breeding to improve production of crops and livestock to use them for food. In selective breeding, organisms with desirable characteristics are mated to produce offspring with the same characteristics, for example, this technique was used with corn to produce the largest and sweetest crops. In the early twentieth century scientists gained an understanding of microbiology. Biotechnology has also led to the development of antibiotics, in 1928, Alexander Fleming discovered the mold Penicillium
Biotech
–
Insulin crystals
Biotech
–
A
rose plant that began as cells grown in a tissue culture
Biotech
–
Computer-generated image of insulin hexamers highlighting the threefold
symmetry, the
zinc ions holding it together, and the
histidine residues involved in zinc binding.
23.
Credit risk
–
A credit risk is the risk of default on a debt that may arise from a borrower failing to make required payments. In the first resort, the risk is that of the lender and includes lost principal and interest, disruption to cash flows, the loss may be complete or partial. In an efficient market, higher levels of credit risk will be associated with higher borrowing costs, because of this, measures of borrowing costs such as yield spreads can be used to infer credit risk levels based on assessments by market participants. Losses can arise in a number of circumstances, for example, A consumer may fail to make a payment due on a loan, credit card, line of credit. A company is unable to repay asset-secured fixed or floating charge debt, a business or consumer does not pay a trade invoice when due. A business does not pay an employees earned wages when due, a business or government bond issuer does not make a payment on a coupon or principal payment when due. An insolvent insurance company does not pay a policy obligation, an insolvent bank wont return funds to a depositor. A government grants bankruptcy protection to an insolvent consumer or business, the lender can also take out insurance against the risk or on-sell the debt to another company. In general, the higher the risk, the higher will be the interest rate that the debtor will be asked to pay on the debt, Credit risk mainly arises when borrowers are unable to pay due willingly or unwillingly. Concentration risk – The risk associated with any single exposure or group of exposures with the potential to produce large enough losses to threaten a banks core operations and it may arise in the form of single name concentration or industry concentration. Significant resources and sophisticated programs are used to analyze and manage risk, some companies run a credit risk department whose job is to assess the financial health of their customers, and extend credit accordingly. They may use in programs to advise on avoiding, reducing and transferring risk. They also use third party provided intelligence, companies like Standard & Poors, Moodys, Fitch Ratings, DBRS, Dun and Bradstreet, Bureau van Dijk and Rapid Ratings International provide such information for a fee. Most lenders employ their own models to rank potential and existing customers according to risk, with products such as unsecured personal loans or mortgages, lenders charge a higher price for higher risk customers and vice versa. With revolving products such as cards and overdrafts, risk is controlled through the setting of credit limits. Some products also require collateral, usually an asset that is pledged to secure the repayment of the loan, Credit scoring models also form part of the framework used by banks or lending institutions to grant credit to clients. Once this information has been reviewed by credit officers and credit committees. Sovereign credit risk is the risk of a government being unwilling or unable to meet its loan obligations, many countries have faced sovereign risk in the late-2000s global recession
Credit risk
–
Categories of
24.
Aeronautics
–
Aeronautics is the science or art involved with the study, design, and manufacturing of air flight capable machines, and the techniques of operating aircraft and rockets within the atmosphere. The British Royal Aeronautical Society identifies the aspects of aeronautical Art, Science and Engineering and the profession of Aeronautics. A significant part of science is a branch of dynamics called aerodynamics, which deals with the motion of air. Attempts to fly without any real aeronautical understanding have been made from the earliest times, typically by constructing wings, wiser investigators sought to gain some rational understanding through the study of bird flight. An early example appears in ancient Egyptian texts, later medieval Islamic scientists also made such studies. The founders of modern aeronautics, Leonardo da Vinci in the Renaissance and Cayley in 1799, man-carrying kites are believed to have been used extensively in ancient China. In 1282 the European explorer Marco Polo described the Chinese techniques then current, the Chinese also constructed small hot air balloons, or lanterns, and rotary-wing toys. The lifting medium for his balloon would be an aether whose composition he did not know, although his designs were rational, they were not based on particularly good science. Many of his designs, such as a four-person screw-type helicopter, have severe flaws and he did at least understand that An object offers as much resistance to the air as the air does to the object. His analysis led to the realisation that manpower alone was not sufficient for sustained flight, da Vincis work was lost after his death and did not reappear until it had been overtaken by the work of George Cayley. The modern era of lighter-than-air flight began early in the 17th century with Galileos experiments in which he showed that air has weight and these would be lighter than the displaced air and able to lift an airship. His proposed methods of controlling height are still in use today, by carrying ballast which may be dropped overboard to gain height, in practice de Terzis spheres would have collapsed under air pressure, and further developments had to wait for more practicable lifting gases. From the mid-18th century the Montgolfier brothers in France began experimenting with balloons and their balloons were made of paper, and early experiments using steam as the lifting gas were short-lived due to its effect on the paper as it condensed. Meanwhile, the discovery of hydrogen led Joseph Black in c.1780 to propose its use as a lifting gas, on hearing of the Montgolfier Brothers invitation, the French Academy member Jacques Charles offered a similar demonstration of a hydrogen balloon. Charles and two craftsmen, the Robert brothers, developed a material of rubberised silk for the envelope. The hydrogen gas was to be generated by chemical reaction during the filling process, the Montgolfier designs had several shortcomings, not least the need for dry weather and a tendency for sparks from the fire to set light to the paper balloon. The manned design had a gallery around the base of the rather than the hanging basket of the first, unmanned design. On their free flight, De Rozier and dArlandes took buckets of water, on the other hand, the manned design of Charles was essentially modern
Aeronautics
–
Space Shuttle Atlantis on a
Shuttle Carrier Aircraft.
Aeronautics
–
Designs for flying machines by Leonardo da Vinci, circa 1490
Aeronautics
–
The
Eurofighter Typhoon.
Aeronautics
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Antonov An-225 Mriya, the largest aeroplane ever built.
25.
Correlation
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In statistics, dependence or association is any statistical relationship, whether causal or not, between two random variables or bivariate data. Familiar examples of dependent phenomena include the correlation between the physical statures of parents and their offspring, and the correlation between the demand for a product and its price, correlations are useful because they can indicate a predictive relationship that can be exploited in practice. For example, an electrical utility may produce less power on a day based on the correlation between electricity demand and weather. In this example there is a relationship, because extreme weather causes people to use more electricity for heating or cooling. However, in general, the presence of a correlation is not sufficient to infer the presence of a causal relationship, formally, random variables are dependent if they do not satisfy a mathematical property of probabilistic independence. In informal parlance, correlation is synonymous with dependence, however, when used in a technical sense, correlation refers to any of several specific types of relationship between mean values. There are several correlation coefficients, often denoted ρ or r, the most common of these is the Pearson correlation coefficient, which is sensitive only to a linear relationship between two variables. Other correlation coefficients have been developed to be more robust than the Pearson correlation – that is, mutual information can also be applied to measure dependence between two variables. It is obtained by dividing the covariance of the two variables by the product of their standard deviations, karl Pearson developed the coefficient from a similar but slightly different idea by Francis Galton. The Pearson correlation is defined only if both of the deviations are finite and nonzero. It is a corollary of the Cauchy–Schwarz inequality that the correlation cannot exceed 1 in absolute value, the correlation coefficient is symmetric, corr = corr. As it approaches zero there is less of a relationship, the closer the coefficient is to either −1 or 1, the stronger the correlation between the variables. If the variables are independent, Pearsons correlation coefficient is 0, for example, suppose the random variable X is symmetrically distributed about zero, and Y = X2. Then Y is completely determined by X, so that X and Y are perfectly dependent, however, in the special case when X and Y are jointly normal, uncorrelatedness is equivalent to independence. If we have a series of n measurements of X and Y written as xi, N, then the sample correlation coefficient can be used to estimate the population Pearson correlation r between X and Y. If x and y are results of measurements that contain measurement error, for the case of a linear model with a single independent variable, the coefficient of determination is the square of r, Pearsons product-moment coefficient. If, as the one variable increases, the other decreases, to illustrate the nature of rank correlation, and its difference from linear correlation, consider the following four pairs of numbers. As we go from each pair to the pair x increases
Correlation
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Several sets of (x, y) points, with the Pearson correlation coefficient of x and y for each set. Note that the correlation reflects the noisiness and direction of a linear relationship (top row), but not the slope of that relationship (middle), nor many aspects of nonlinear relationships (bottom). N.B.: the figure in the center has a slope of 0 but in that case the correlation coefficient is undefined because the variance of Y is zero.
