Cooperator Insurance company Case Study Example | Topics and Well Written Essays - 500 words

Cooperator Insurance company - Case Study Example sence, CGL values people to a greater degree and makes business decisions that are long-term in nature to strike a balance between the profit objective of business and the corporate social responsibility (CSR) objective. The products and services of CGL are sold through a variety of channels. There are over 2,570 licensed insurance representatives across Canada whose responsible is to sell the products and services of CGL. Moreover, CGL uses its website and contact and call centers to sell its services to clients satisfied (The Cooperators Group Limited, 2013). The variety of sales channels of CGL enables the company to reach an ample population of prospective clients. CGL employs several methods of selling. Considering the insurance and financial services are provided to both individuals and corporations, both direct and Business-to-Business method of selling are used. Besides, the complex insurance services of the CGL are sold through insurance brokers (Cooperators Group Limited, 2015). CGL encounters stiff competition from other companies operating in the insurance industry. Despite the fact that CGL has diversified to offering financial services over and above insurance services, it is still recommended that CGL should diversify its operation to other lines of business to spread business risk. It is recommended that CGL should capitalize on acquiring and collaborating with other players in the industry in order to fortify its market share in the industry. In fact, through acquisition and collaborating with other insurance and financial services providers, CGL will worry less about competition and instead focus the resources and energy in its core operations. CGL is an insurance and financial services company. Given this, the suppliers of the company have to do with the members of the company and the major ones include Ontario Federation of Agriculture, UFA Co-operative Limited and Arctic Co-operatives Limited. CUMIS offers business, liability and

Auditing Exercise for Property Plant and Equipment Assignment

Auditing Exercise for Property Plant and Equipment - Assignment Example Management must implement the internal control activities to reduce the three inherent risk factors, management must implement the following internal controls procedures. The same audit objective includes reducing the risk factors by physically determining if management recorded all assets seen and affirmed by the auditor properly and completely in the proper accounting period. The inherent risk factors for item 1 and 3 are complex accounting issues (proper recording of property plant and equipment assets and allowance for depreciation), difficult to audit transactions (collusion between management and employees to fraudulently present Enron-style financial statements), and misstatements (unintentional errors) are detected (Whittington, 2005). ADJUSTING ENTRIES The auditor found the recommended adjusting entries for item 1 item 3 and after performing the audit procedure test of details of transactions or reconciliation. This is in compliance the auditor’s meeting the audit obj ectives. The auditor must obtain sufficient audit evidence to support all management assertions shown in the financial reports. Reconciliation entails the ensuring that detailed records have the same balances as the general ledger control accounts. The following adjusting entries are necessary in order to present the true balances of the land account, buildings account, machinery and equipment account, depression expense accounts, and allowance for depreciation account (buildings) and allowance for depreciation accounts (machinery and equipment), in compliance with no. 1 item instructions (D Kieso, J Weygandt, T Warfield, 2011). Item no. 1 Assertions: 1. Completeness assertion: Management ensures the recording of all existing property, plant, equipment, allowance for depreciation and other accounts in the same accounting period. The accountant did not record the donated assets were in the books of accounts received from Crux City. Thus, the effect on the audit procedure is to increa se the building account in item no. 1by $ 400,000. Management must make an adjustment. Otherwise, item no. 1 (building account) will be understated. Likewise, the allowance for depreciation account, item 1, will be understated. 2. Existence or Occurence assertion : All recorded property, plant, equipment, allowance for depreciation and other accounts exist or are owned by the company in the same accounting period. The effect on audit procedure is to inspect the official documents that include land titles, official receipts, and donation document will prove the existence or occurrence (ownership) of the reported assets. 3. Valuation or allocation assertion: all amounts recorded in the property, plant, machinery and equipment, allowance for depreciation accounts are accurate and proper classification of the business transactions are made. The audit procedure includes analytical procedures. The effect on audit procedure is to ensure accuracy, classification, cut-off, detail tie-in of t he property, plant, equipment, depreciation allowance, and depreciation expense balances during the year under audit. In terms of effect on audit procedure, the auditor must determine the existence or occurrence assertion audit assertion are valued accurately by personally inspecting if all recorded property, plant, and equipment accounts recorded in the books exist (Whittington, 2005). The building, machinery and

Economics Essay Example | Topics and Well Written Essays - 500 words - 18

Economics - Essay Example competitor lowers its price it may attract some - but not all - buyers because product differentiation makes it possible for some to remain with the sellers product despite the price increase, and they will not switch. Rivalries among oligopolists can be circumvented by some form of open or tacit collusion among members, in the process converting the oligopoly, at least temporarily, into a sort of monopoly. One example is price leadership, where one company, usually the biggest among them, sets the price and the others follow. It is somewhat risky because unless the others expect to benefit or are not harmed by the move, they can undercut the price instead, and a price war among the participants can ensue. A company may also behave in such a way that it does not make things difficult for its competitors. Companies may set their prices so that they are only a few cents apart and thus somehow avoid accusations of having colluded in setting prices. Open collusion (a cartel) is possible but is illegal in the United States. A successful cartel can charge a monopoly price at the expense of the consumers and obtain monopoly profits. An exception in the United States applies to regulated industries such as telecommunications and gas pipeline transportation where members are allowed to behave as cartels provided they do not undercut the prices set by government regulatory agencies (Baumol and Blinder, 1997). A monopoly is either a pure monopoly or a natural monopoly. A pure monopoly is one where there is only one supplier of a product that has no close substitutes and where it is impossible or extremely difficult for another firm to coexist. A natural monopoly, on the other hand. is an industry in which advantages in large scale production make it possible for a single firm to produce the entire output of the market at a lower than average cost than a number of firms each producing a smaller quantity. It is the latter kind of monopoly that can evolve from a

Formal Presentation Tactics Essay Example for Free

Formal Presentation Tactics Essay Presentations, unlike reports, carry the personality of a speaker, simultaneously allowing for interaction between all participants involved. A good presentation is hinged on precise, well researched content as well as a clear well laid out structure. Simply put, content relates to information useful to the people. It differs significantly from presentations to reports. The latter are analyzed at the readers’ pace but the former must account for the amount of information that can be assimilated in a single sitting. The structure followed must be logical, sequenced as well as suitably paced so that the audience can effectively follow the proceedings. Other salient aspects are packaging and the human element. Presentations must be well prepared for the audience is literally at the presenter’s mercy; they do not have the option of rereading certain portions or skipping others altogether. The human element, when used effectively, contributes greatly to the success of any presentation (Clark, 2007). The importance of preparation cannot be overstated. It may be a threadbare cliche, but failure to prepare really is preparation to fail. Research is vital both in term of content and the audience. The material presented must be accurate, supported with credible illustrations. Simple concise statements of intent usually assist in defining the scope of a presentation. Presenters must also establish the nature of the audience it terms of level of education, employment cadre and familiarity with the language. The findings serve as an indicator of the jargon the presenter may use as well as the vocabulary used. This aspect also defines the audience’s aims and objectives as for attending the presentation (Blair, n. d. ). If this is not effectively done, there will be little communication, rendering the entire presentation an exercise in futility. The introduction of any presentation is vital. Based on this aspect alone, it is possible to determine success. It is not enough to attract the attention of the audience; presenters must sustain it. One of the most effective ways of doing this is to establish a theme that the presentation will revolve around. This works well with a quick breakdown of the presentation’s guiding structure and an establishment of a rapport with the audience. Apart from maintaining the audience’s attention, it allows both parties to feel comfortable and significantly reduces the presenter’s level of anxiety. A good beginning deserves an equally good ending. Some experts dispense with the idea of starting the conclusion by stating that it is a recapitulation of the presentation as people may switch off. They favor either a sudden end marked with a phrase that will linger in the memories of the audience, or with a flourish, pace as well as voice carrying listener through a powerful crescendo (Blair, n. d. ). Preparing the body of the presentation does not translate to writing down the speech word for word. Having the main points on cards provides an outline as well as an effective memory jogger. Important questions to keep in mind, as stated in the research phase are the purpose, the nature of people attending, their familiarity on the subject and audience’s attitude towards the speaker. Other options to explore in terms of the structure of the body are timeline, problem/solution, classification, climax and complex to simple (or vice versa) layout (Clark, 2007). In contemporary group communication, visual aids are vital as they reinforce the delivery of the verbal message. Technology has lent itself to this respect, allowing for larger audiences to participate. Behavioral studies suggest that novelty and creativity in the application of visual aids is a major contributor to the success of a presentation. An example is displaying four different styles of hats when describing four major functions of project managers. With traditional aids, the rule of thumb is to employ different slides for distinct purposes; they should not be there at all if they have no purpose. Slides should not be cluttered as it has the counteractive effect of confusing the audience, rather than elucidating verbal message. Presenters must speak to their audience, as opposed to the visual aids. Therefore they must be thoroughly conversant with every slide to avoid presenting their backs to the audience as they struggle to explain what is going on. Legibility, color, contrast and size are factors to consider in the design of each slide. Everyone in the room should easily follow the aids without movement or strain. Delivery is another pillar of presentations. Presenters on one hand have the ability to enhance a presentation manifold and on the other, butcher it. The discussions of this aspect start with focus on the eyes. The fact that they are usually described as windows to the soul indicates that they are the first, most effective instruments in convincing people of speakers’ openness, honesty and their confidence in the material they are presenting. Herein lies the importance of maintaining eye contact. Doing so with all sections of the audience, accompanied by the hint of a smile convinces an audience that the presenter acknowledges and values their presence. Voice is the next aspect to assess, particularly variation and projection. However, projection does not mean shouting. Carefully watching the audience is the best indicator of the level of audibility. Voice variation is so powerful that it can make a well prepared presentation appear dull or make transform a boring topic into an exciting one. This aspect rules out monotonic speeches and their soporific effect. Changes in tone and well timed poses emphasize delineation and express certain feelings, moods and emotions. Rhetorical questions have proved useful in this respect as they inherently have tone variations at the end (Blair, n. d. ). Body language, expressed through appearance and stance are other important elements under the topic of formal presentation tactics. Posture as well as body orientation communicate a multitude of messages. By standing erect while leaning forward, speakers express approachability, receptiveness and friendliness. Gestures also play their role by making the content of the presentation more interesting in addition to facilitating understanding (Clark, 2007). The topic of speaker anxiety has been tackled from a number of angles. Some people insist on the impact of a simple change in attitude (Sathoff, 2008) while others encourage speakers to embrace nerves. The thinking behind the proposal is premised on the â€Å"flight or fight† condition occasioned by the release of adrenaline. Welcoming and recognizing nerves allows speakers to gain the edge by taking the fight option. They tackle the challenge of the presentation better, achieving better results than they envisaged. Attitude change encompasses positive thinking, mental visualizations of the task at hand and the belief that mistakes are part and parcel of the learning process. In all cases, deep breaths and short water breaks are of great help. Alcohol is not an option, as misinformed parties claim (Clark, 2007). Formal presentations are powerful avenues for self expression. Practice really does make perfect. Listening and watching self recordings allows for self discovery. Presenters can assess their performance and improvement against a checklist. Watching seasoned presenters in their element provides tried and tested success tricks. It is quite heartening to learn that oral presentation skills can easily be learned. Works Cited: Blair, G. M. , â€Å"Presentation Skills for Emergent Managers†, n. d. Retrieved on 25th March, 2009, from http://www. see. ed. ac. uk/~gerard/Management/art1. html Clark, D. R. , â€Å"Presentation Skills†, 2007. Retrieved on 25th March, 2009, from http://www. nwlink. com/~donclark/leader/leadpres. html Sathoff, R. , â€Å"Speaker Tips†, 2008. Retrieved on 25th March, 2009, from http://www. ed-u. com/publicspeaking. htm

Hamlet: In His Right Minds Eye :: Shakespeare Hamlet Essays

Hamlet: In His Right Mind's Eye         Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Crazy, or not crazy- That is the question.   The matter of Hamlet's so called madness, has been an item of debate since the first performance, and will probably be a continuing argument well into the future.   I believe Hamlet was not crazy, because he proves to be in complete control of his psyche   in several parts of the play.   These three reasons are the main points of argument for Hamlet's sanity.   His behaviors is only erratic in front of certain people, he shows logic and reasoning in his plotting,   and finally, actually admits to several people to be only â€Å"acting† mad.   These are hardly the actions of a madman.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   First of all,   the fact that Hamlet's irrational behavior emerges only in front of certain individuals shows he was only acting.   He acts insane in front of Polonius, Claudius,   Gertrude and Ophelia, while remaining perfectly normal in front of Horatio, Marcellus, the players and the gravedigger.   Hamlet convinces Ophelia of his madness by going   into her room   â€Å"with a look so piteous in purport as if he had been loosed out of hell to speak of horrors,† (2.1.92)and grabbed her and examined her face.   Then he let out †a sigh so piteous and profound as it did seem to shatter all his bulk and end his being.† (2.1.106) After that incident, Polonius believes, that Hamlet's madness â€Å"is the very ecstasy of love.†(2.1.115)   Claudius is convinced, however, that that is not the case.  Ã‚   He believes that something else is troubling Hamlet. â€Å"Love?   His affections do not that way tend;   Nor what he spake, though it lacked form a little, was not like madness.   there's something in his soul o'er   which his melancholy sits on brood† (3.1.176)   After Hamlet kills Polonius, Gertrude becomes completely convinced that Hamlet is â€Å"Mad as the sea and the wind when both contend which is mightier.†(4.1.7) With these characters convinced of his madness, Hamlet is able to carry out several plans to avenge his father's death.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The logic he uses in his plots is proof of a sane mind.   He successfully uses the players to reveal Claudius is the murderer by changing the play   they perform to reenact the murder of Hamlet's father. â€Å"Let the galled jade wince; our withers are unwrung.† . When the murder scene is enacted, Claudius calls for lights and storms out of the room.   Claudius, knowing Hamlet is a threat, has him sent to England along with Rosencrantz and Guildenstern.   the two bear a letter that was to have Hamlet executed upon arrival in England.

My Role Model :: essays research papers

My Role Model In my life I have had very few role models. They have been mostly famous people I see on TV like Michael Jordan, but what young man hasn't wanted to seemingly fly through the sky and slam dunk a basketball? But as you grow older and mature you soon realize that more than just famous people can be role models to you. To me one of my role models is my friend Nick. Nick and I are a lot alike. We both grew up without a father and had a very supportive mothers who love us very much. Nick is three years older than me and we have been friends for about two years. To begin to understand why I look up to Nick you will first have to learn about his past and where he is now. Like I said Nick grew up in a single parent home where the dad was gone. He went to school like everyone else. Every week he went to church on Wednesday and Sunday. His mom struggled to support him by working several jobs, although she was there when he needed her his relationship with her was strained. Through high school Nick played sports and hung out with a variety of people. Some good, some not so good. Eventually he fell victim to the so called "party crowd". He started drinking, doing drugs, and selling drugs. He just didn't care what others thought. All the while he was doing this he continued to go to church and pretend everything was fine. Eventually Nick graduated and moved on to college where things would get worse. His first year of college all he did was party. It got so bad that he was out five nights a week drinking. After his grades started to suffer he realized he had a problem. All this while he was still going to church. Church is eventually where he turned to find help. After kicking his bad habits Nick decided to help others who might have problems like his. Nick decided the best way to help others was to get involved in as an adult leader in the youth ministries program. He has really shown me what is like to grow up and take responsibilities. The reason I most look up to him is because he has turned away from all that pressure the world puts on people to be popular and is doing something with his life.

Mercury Drug Research Essay

Mercury Drug Corporation is the Philippines’ dominant pharmacy group. The Quezon City-based company operates a national chain of more than 450 drugstores, including company-owned and franchised stores. Mercury Drug is estimated to sell as much as 60 percent of all medicines sold each year in the Philippines (the country’s hospitals sell about 12 percent of medicines). Mercury Drug’s pharmacies follow the American model, combining drug and medical equipment sales with over-the-counter medicines, personal care items, basic household needs, cosmetics and other beauty products, and the like. Most of the company’s stores also are equipped to store and sell serums, blood plasma, albumin, and similar biologically active medical products. In addition to its drugstores, Mercury operates a chain of Mercury Drug Superstores. Generally attached to the company’s pharmacies, the Mercury Drug Superstores extend the group’s assortment to include convenience store and fast-food items. By the mid-2000s, Mercury Drug Corporation operated more than 150 Mercury Drug Superstores. Founded by Mariano Que, who first sold pills from a pushcart in the 1940s, Mercury Drug Corporation remains a privately held company. Leadership of the company also remains in the family: The company’s president is Mariano Que’s daughter, Vivian Que-Ascona. Mercury Drug is a subsidiary of the Mercury Group of Companies, which governs other Que family interests, including the 10*Q convenience store chain and the Tropical Hut fast-food group. In 2003, Mercury Drug’s revenues amounted to nearly PHP 43 billion ($8.8 billion). Founding a Filipino Pharmacy Giant in the 1940s Mariano Que started his career working in a Manila drugstore in prewar Philippines. There he came into contact with many medications, including the newly discovered class of sulfa drugs, including sulfathiazole. These new drugs, developed by German scientists in the early 1930s, were quickly hailed as new â€Å"miracle† drugs. Indeed, the sulfa drugs enabled the treatment of many illnesses, such as pneumonia, gonorrhea, and other bacterial infections, that previously had been difficult, if impossible, to treat. Despite the fact that the sulfa drugs later were shown to have a number of undesirable side effects (they formed deposits in the kidneys, and bacteria quickly became resistant), they were credited with saving millions of lives around the world through World War II. The end of the war and the liberation of the Philippines by U.S. forces brought new business opportunities in the country. During the occupation, supplies of medicines had become scarce, and the immediate postwar period saw a surge in demand for sulfa drugs, and sulfathiazole, considered by many to be a virtual cure-all. With most of the country’s businesses, including its pharmacies, destroyed during the war, much of the country’s trade shifted to its busy marketplaces. Mariano Que, inspired by the new entrepreneurial spirit, used his drugstore experience to launch his own business. At first, Que bought and sold medical vials and capsules. After he had generated sufficient savings, however, he took PHP 100 (worth about $1.50 at the time) and bought a bottle of sulfathiazole tablets. Que brought the sulfathiazole bottle to Manila’s busy Banbang market and sold the pills—in single doses. The method of selling, known as â€Å"Tingi-tingi,† became extremely popular in the poverty-stricken Philippines, bringing life-saving medications within financial reach of many more people than before. Que invested his profits in purchasing more pills, and before long he had generated enough revenue to buy a pushcart, which he filled with an expanding assortment of pharmaceuticals. The unregulated nature of the country’s drug market, especially its pharmaceutical black market, led to abuses by sellers, who sometimes peddled fake or dangerous formulations, or sold medications long out of date, often at extortionist prices. Que, however, built a reputation for the quality and freshness of his products, and also for the fairness of his prices. Before too long, he had built up a steady clientele, and in March 1945, Que opened his first store. Que named the Bambang-located store Mercury Drug, after the Roman god and bearer of the caduceus, the symbol of the medical profession. Branching Out in the 1970s Mercury Drug remained a one-store operation into the 1960s. In the meantime, Que continued to drive innovations in the Filipino pharmacy sector. In 1948, for example, Que began a drug delivery service, becoming the first to use motorized vehicles for swifter delivery times. In the 1950s, Que expanded his store hours, introducing a 17-hour-per-day, seven-days-per-week opening schedule. Part of the motivation behind the move came in recognition of a Filipino tendency to auto-medicate their illnesses. By remaining open  longer, Mercury Drug responded to its clients’ demands for increased access to pharmaceutical products. Launched in 1952, the new opening schedule was expanded to 24 hours per day in 1965. Mercury Drug began its drive to become the Philippines’ dominant drugstore group in the next decade. At the beginning of the 1960s, the company was contacted by the Ayala Corporation, which was building a shopping center in Makati. Ayala offered to lease space to Mercury, in order to include drugstore services at the center. Mercury agreed, and once again revealed its penchant for innovation, opening the country’s first self-service pharmacy in 1963. Two years later, Mercury opened its third drugstore, in Quiapo, which became the company’s flagship and set the model for its further development. In 1967, the company opened a centralized warehouse to serve its growing store chain, introducing computer-guided temperature controls to safeguard its products. Then, in 1969, the company became the first to introduce biological refrigerators in its stores. This permitted the company to assure the quality of its life-saving medicines. Mercury Drug began building out its n etwork of drugstores, staying close to the Manila market for much of the early 1970s. The company also began branching out beyond pharmaceutical sales. A significant early purchase was that of Medical Center Drug Corporation (MCDC). Founded in 1946, MCDC focused on sales of pharmaceutical supplies, equipment, and basic surgical instruments. The purchase of MCDC, complementary to its existing drugstore business, led Mercury Drug to change its structure. In 1972, Que created the Mercury Group of Companies, Inc., which in turn oversaw Mercury Drug and MCDC. Both companies remained independent of the other; in 1980, MCDC changed its name, to Medical Center Trading Corporation (MCTC), in order to highlight its difference from Mercury Drug. MCTC then grew into the Philippines’ leading importer and distributor of medical, hospital, laboratory, and related equipment, with branches throughout the Metro Manila and surrounding region. MCTC was not the only venture by Que (who was joined by daughter Vivian Que-Ascona, later president of Mercury Drug) to expand beyond his drugstore empire. The introduction of the convenience store concept in the Philippines in the early 1980s represented both a new source of competition for Mercury Drug and a new opportunity. Mercury developed its own convenience format in response to the growth of competitors such as 7-11. Typically located next to its drugstores, the Mercury Drug Superstores expanded the company’s range of goods beyond drugs and into wider consumer categories, such as beauty and personal care products, fast-foods, and the like. Separately, the Que family added other interests, including the Q*10 convenience store format and the Tropical Hut fast-food restaurant chain. Nonetheless, Mercury Drug Corporation remained the focus of the family’s holdings. â€Å"Oligopoly† in the New Century Mercury Drug, meanwhile, continued to grow strongly. In 1976, the company expanded beyond the Metro Manila market for the first time, and over the next decades added locations in the Luzon, Visayas, and Mindanao regions of the Philippines as well. Supporting this network was the implementation of a fully computerized warehousing, inventory, and order processing system, installed in 1985. Mercury Drug’s growth was impressive: By 1995, the company operated more than 270 stores. Less than ten years later, Mercury had expanded its number of branches to more than 450, giving it a near monopoly grip on the country’s drug sales. By 2004, Mercury controlled as much as 60 percent of all drug sales in the Philippines. Ironically, Mercury’s dominant position led the group, which had achieved its early growth based on its low prices, to be criticized for what many considered as its restrictively high prices. Indeed, as some critics pointed out, similar drugs could be purchased in India and other markets for as much as one-third the price Mercury Drug charged. In the early 2000s, the government began taking action to force the Philippines’ drug industry, including Mercury Drug, to lower prices on many life-saving medicines. As part of that effort, the country’s Trade and Industry and Health departments began encouraging the parallel importation of pharmaceutical generics from India, which had earned worldwide recognition for the quality of its generic equivalents. Company Perspectives: The company’s mission is continuously be the leading, trusted and caring drugstore. In 2004, the government stepped up its pressure. In September of the year, the government passed legislation expanding drug discounts for the country’s senior citizens. The country’s smaller independent drugstore owners protested the decision, in part because it was expected to serve only to increase Mercury’s dominance over the market—as the country’s largest retailer of pharmaceutical products, Mercury was easily able to negotiate discounted prices from its supplies. Also in that year, President Arroyo established the lowering of drug prices as one of the government’s priorities. In December 2004, the Filipino government announced a new plan to break what some were calling Mercury’s â€Å"oligopoly† on the country’s retail market. The Philippine International Trading Corp. (PICT), owned and run by the Filipino government, announced its intention to organize up to 300 of the country’s independent pharmacies into a new network of privately owned and operated drugstores, dubbed â€Å"Botika ng Bayan.† The new network would then sell drugs, sourced by PICT directly from drug companies, at prices as much as six times less expensive than â€Å"market†Ã¢â‚¬â€i.e., Mercury’s—rates. Despite these pressures, Mercury Drug Corporation remained a fixture on the Philippines pharmacy market. The company also remained one of the Philippines’ largest corporations, ranking in eighth place among the country’s largest corporations and third place among the corporations in the high-quality services/products br acket. Mercury Drug appeared to have discovered its own â€Å"miracle drug† for success. Principal Subsidiaries Mercury Drug Superstore. Principal Competitors Caltex; I-Mart International Corporation; Phils. Corporation; Easy Mart; Petron Corporation; Philippine Seven Corporation; Robinsons Convenience Store Inc.; Seaoil Philippines Inc.; Shell Philippines Inc.; Philippines Corporation. How did Mercury Drug Started? From its humble beginnings, Mercury Drug has gone beyond expectations. Shortly after the liberation of Manila from Japanese occupation, Mariano Que, realizing the need of the people for medicines, bought with his hard earned savings of P100 a bottle of 1000 tablets of Sulfathiazole and sold it â€Å"patingi-tingi† for P1.00 per tablet in the sidewalks of Bambang, Manila. Sulfathiazole is a wonder drug that cures all during that time. From pushcart – peddling and with his previous working experience in a drugstore before the war, he eventually opened his first small drugstore in Bambang Street. Mercury Drug has today grown into a vast network of over 700 company-owned and franchised stores nationwide. Mercury Drug Stores Success Mercury Drug believes that it owes its success to the millions of customers who have trusted and patronized the drugstore chain all throughout these years. Its feat could also not have been possible without its pool of professional and dedicated staff numbering close to 9,000 today. As a way of giving back to the people, Mercury Drug vows to bring quality, safe and affordable health-enhancing and life-saving medicines closer to the public. In the first place, it is what the name Mercury Drug stands for. In Roman mythology, Mercury is known as the god of commerce and manual skill. Being the messenger of gods, Mercury needed a winged feet for his swift flights. Mercury Drug remains committed to its name as seen on its corporate philosophy of total and speedy customer service: â€Å"To serve you, to have what you want, when you want it.† Aside from bringing its chain of stores closer to the homes of the people, Mercury Drug has constantly endeavored to reach the hearts of the customers. To achieve this, Mercury Drug has taken pride in the introduction of many firsts in the drug retailing business —all in an effort to satisfy, please and further serve the people. Mercury Drug Innovations In 1945, it opened a drugstore and one of its innovations is to sell â€Å"tingi-tingi† or piece by piece to those who could not afford to buy a whole bottle of medicine. Realizing that not everyone could go to the drugstore, Mercury Drug introduced the first motorized customer delivery service in 1948. Four years later, it commenced the 17-hour, 7 days a week drugstore service; in 1963, the country’s first self-service drugstore; in 1965, the 24-hour, 7 days a week service; in 1967, the first computerized temperature-controlled central warehouse; in 1969, the first drugstore chain to use biological refrigerators to preserve life-saving medicines and in 1976, the first drugstore chain to expand throughout Luzon, Visayas and Mindanao. Mercury Drug believes that quality and life-saving medicines made affordable and accessible are as important today as it was then. Now more than ever, it is committed to introducing enhanced services to better serve the customers farther and wider, whoever and wherever they may be. For instance, Mercury Drug makes certain the availability of less common but life-saving medical products such as serum, blood plasma, albumin and the like that are stored in a Bio-refrigerator. This would require Mercury Drug to invest on modern technology and to continuously upgrade its facilities in its head office, stores and distribution centers. Aside from pharmaceutical products, it now carries basic household necessities such as food, health and personal care products and others for the buying convenience of its customers. It has also incorporated value added facilities and services in many of its drugstores. More and more branches are open on a 24-hour service all days of the week. Aside from cons istently complying with the 20% discounts to senior citizens, Mercury Drug has also launched its †Suki† card, a customer program as a way of expressing gratitude to its loyal customers. As a drugstore with a heart, Mercury Drug has been conducting â€Å"Operation Bigay Lunas† every March 1, on their anniversary day together with its business associates. For the past decade, this annual and all-day free clinic catering to the less-privileged provides medical consultations and free medicines to indigent patients in selected cities and municipalities nationwide. This year alone, it served more than 130,000 beneficiaries in around 63 cities and municipalities. In 2002, Mercury Drug, in partnership with the Philippine Business for Social Progress (PBSP), has launched a program that has been helping rural and urban marginalized communities nationwide to have access to potable water system within their communities through the Artesian Well Project. The installation of this potable water system helped improved the quality of life of the beneficiaries by promoting better health and sanitation practices. Mercury Drug Perspectives and its Struggles with the Philippine Government In 2004, the government stepped up its pressure. In September of the year, the government passed legislation expanding drug discounts for the country’s senior citizens. The country’s smaller independent drugstore owners protested the decision, in part because it was expected to serve only to increase Mercury’s dominance over the market—as the country’s largest retailer of pharmaceutical products, Mercury was easily able to negotiate discounted prices from its supplies. Also in that year, President Arroyo established the lowering of drug prices as one of the government’s priorities. In December 2004, the Filipino government announced a new plan to break what some were calling Mercury’s â€Å"oligopoly† on the country’s retail market. The Philippine International Trading Corp. (PICT), owned and run by the Filipino government, announced its intention to organize up to 300 of the country’s independent pharmacies into a new network of privately owned and operated drugstores, dubbed â€Å"Botika ng Bayan.† The new network would then sell drugs, sourced by PICT directly from drug companies, at prices as much as six times less expensive than â€Å"market†Ã¢â‚¬â€i.e., Mercury’s—rates. Despite these pressures, Mercury Drug Corporation remained a fixture on the Philippines pharmacy market. The company also remained one of the Philippines’ largest corporations, ranking in eighth place among the country’s largest corporations and third place among the corporations in the high-quality services/products bracket. Mercury Drug appeared to have discovered its own â€Å"miracle drug† for success. Mercury Drug Mission Statement â€Å"Continuously be the leading, trusted and caring drugstore.† In the years to come, Mercury Drug will keep on looking for opportunities to further enable customers to have more access to quality, safe and life-saving medicines, thus enabling them to have more meaningful, healthier and longer lives. It will always pursue its commitment to better and further serve its customers whose trust and loyal patronage has allowed Mercury Drug to be of continued service to the nation. Mercury Drug Official Website: https://www.mercurydrug.com Mercury Drugstore| â€Å"This drugstore as I believe have also started as a small pharmacy and they grew to be a big chain of drugstores†inquire| â€Å"I like the idea of what they have presented to their clients and customers, you can have this Suki Card and earn points as you purchase in the mercury drugstores†inquire| â€Å"The best thing about mercury drugstores is that there are branches, usually near residential areas that have extended operating hours†inquire| â€Å"Mercury drugstore branches are also strategically placed in some shopping malls that is convenient for customers†inquire| | | | People in the Philippines, especially those who live in the urban areas are very much exposed to the drugstores called Mercury Drug. This is a local drugstorechain in the country that has quite a number of branches throughout the country. This drugstore as I believe have also started as a small pharmacy and they grew to be a big chain of drugstores. I like the idea of what they have presented to their clients and customers, you can  have this Suki Card and earn points as you purchase in the mercury drugstores; these points are then converted to cash to be used for your succeeding purchases. Known for having the most complete varieties of medicines, even those that are not very common, mercury drug sure has made their way to the top of the pharmaceutical industry as a retailer. Just a few years back, they have also put up some retail products sold in their bigger shops which is also good, since you can use your membership card with supermarket items like household products, or bread s, and chips. The best thing about mercury drugstores is that there are branches, usually near residential areas that have extended operating hours. This helps a lot to those families who will have emergencies and would need to buy medicines during these hours. They open early too, for those who will be going to the office, so they can purchase what they need first prior to their work time. Mercury drugstore branches are also strategically placed in some shopping malls that is convenient for customers; not only that, aside from the usual medicine, and healthcare products, Mercury Drug also are selling some medical equipments common to hospital patients and practitioners. The first Mercury Drug drive-thru The company began in 1945 with a single store. Today, Mercury Drug has more than 700 stores. Even with a wide lead over competitors, Mercury Drug still aspires to reinvent itself. I happen to pass by Madison St. in San Juan Greenhills and was surprised to see a Mercury with a drive-thru. Terms of UseCLOSE Please read this agreement carefully before accessing or using this site and its mobile applications. By accessing or using this site, you agree to be bound by this agreement. The information and services on this site are provided by Mercury Drug and its suppliers, subject to your agreement to the terms and conditions below. Use of Information and Services. The information (including without limitation advice and recommendations) and services on the site are intended solely as a general educational aid and are neither medical nor health care advice for any individual problem nor a  substitute for medical or other professional advice and services from a qualified health care provider familiar with your unique facts. Always seek the advice of your physician or other qualified health care provider on any questions you may have regarding a medical condition and prior to starting any new treatment. Nothing contained in this site is intended to be used for medical diagnosis or treatment. The information and services are provided with the understanding that neither Mercury Drug nor its suppliers or users are engaged in rendering legal, medical, counseling or other professional services or advice. Your use of the site is subject to the additional disclaimers and caveats that may appear throughout the site. Mercury Drug and its agents assume n o responsibility for any consequence relating directly or indirectly to any action or inaction you take based on the information, services or other material on this site. While Mercury Drug strives to keep the information on this site accurate, complete, and up-to-date, Mercury Drug and its suppliers cannot guarantee, and will not be responsible for any damage or loss related tothe accuracy, completeness or timeliness of the information. User Contributions Users who post materials to this site (e.g., bulletin boards or chat rooms) agree to abide by the following rules: (1) users may not post or transmit material that is libelous, defamatory, obscene, fraudulent, harmful, threatening, abusive or hateful, that violates the property rights of others (including without limitation infringing use of a copyright or trademark), that violates the privacy or publicity right of others, or that is in violation of applicable laws; (2) users may not interfere with other user’s use and enjoyment of this site; (3) users may not use this site to conduct any activity that is illegal or that violates the rights of others; (4) users may not use this site to advertise or sell products or services to others; and (5) users must immediately inform Mercury Drug if they have reason to believe that a user is infringing any copyrighted materials. A user posting material represents that such material is owned by the user. Mercury Drug has no responsibility for the content of any material posted by users, but Mercury Drug reserves the right in its sole discretion to (i) edit or delete any documents, information or other material submitted to or appearing on this site, and (ii) refuse access to the site to any user that  violates this agreement. Bulletin boards and chat rooms contain the opinions and views of other users. Mercury Drug is not responsible for the accuracy of any messages on bulletin boards and chat rooms, and you should always consult a physician or other qualified health care provider before relying on any information you find on these sites. By submitting any material to Mercury Drug, you automatically grant, or warrant that the owner of suchmaterials has expressly grantedMercury Drug the royalty-free, perpetual, irrevocable, non-exclusive and fully sublicensable right and license to use, reproduce, modify, ad apt, publish, translate, create derivative works from, distribute, perform and display such any materials (in whole or part) worldwide and/or to incorporate it in other works in any form, media, or technology now known or later developed. Limitation of Liability IN NO EVENT SHALL MERCURY DRUG OR ITS SUPPLIERS BE LIABLE FOR ANY SPECIAL, INDIRECT, PUNITIVE, INCIDENTAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, OR ANY DAMAGES WHATSOEVER RESULTING FROM LOSS OF USE, BUSINESS, DATA OR PROFITS, LITIGATION AND THE LIKE, WHETHER BASED ON BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. WITH RESPECT TO GOODS OR SERVICES PURCHASED THROUGH THIS SITE, MERCURY DRUG’S LIABILITY, IN ANY CASE, IS EXPRESSLY LIMITED TO REPLACEMENT OF DEFECTIVE GOODS, OR, AT MERCURY DRUG’S ELECTION, TO THE REPAYMENT OR CREDITING OF BUYER WITH AN AMOUNT EQUAL TO THE PURCHASE PRICE OF THE GOODS. YOU ACKNOWLEDGE AND AGREE THAT THE LIMITATIONS SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THIS AGREEMENT AND THE SITE WOULD NOT BE PROVIDED TO YOU ABSENT SUCH LIMITATIONS. SOME STATE STATUTES MIGHT APPLY REGARDING LIMITATION OF LIABILITY. Changes to Site Mercury Drug and its suppliers may make improvements or changes in the information, services, products, and other materials on this site, or terminate this site, at any time without notice. Mercury Drug may modify this agreement at any time, and such modifications shall be effective immediately upon posting of the modified agreement. Accordingly, you agree to review the agreement periodically, and your continued access or use of this site shall be deemed your acceptance of the modified agreement. Miscellaneous This agreement and the resolution of any dispute related to this Agreement or the site shall be governed by and construed in accordance with the laws of Philippines, without giving effect to any principles of conflicts of law. Mercury Drug’s failure to insist upon strict enforcement of any provision of this agreement shall not be construed as a waiver of any provision or right. Any legal action or proceeding between Mercury Drug and you related to this agreement shall be brought exclusively in a federal or state court of competent jurisdiction in the Philippines. Mercury Drug Privacy PolicyCLOSE Mercury Drug Corporation understands the value of your privacy and the individual confidentiality and security of your personal information. Your online privacy is very important to us. Hence, we guarantee that we do not disclose or share your personal information in a manner not specified in our privacy statement or without your knowledge and permission. Mercury Drug values your trust with utmost importance, and we shall do our best to protect the confidentiality and proper use of any personal information you provide to us. Collection of Information We shall only collect personal information that you decide to provide voluntarily when using our web site. Notwithstanding this, you can always visit our web site without disclosing or sharing any of your personal information. Moreover, you can use our web site even without creating a personal account but if you desire to maximize and take advantage of some of our web site features such as Order Online, it will be more convenient if you create your personal account. You can also use our web site, without disclosing your identity and without revealing any personally identifiable information, to learn more about Mercury Drug Corporation including but not limited to our products and services, promotions, company updates, special product offers and customer feedback. The personal information you provide when using the Mercury Drug web site such as your name, password, age, civil status, gender, mailing address, email address, telephone number, mobile number, Suki Card number, credit card information and other personal details are necessary information to allow you to use certain features and tools in our web site and for us to respond individually to your queries, provide  your required service, inform you of special product offers, process your order, conduct surveys or administer contests, if any. Disclosure of information All your personal information is not shared with or sold to any other third party entity or individual. We will not share or intentionally disclose your personal information other than to you, Mercury Drug Corporation, its subsidiaries and affiliates, your authorized representative(s) and agents, including medical professionals and our agents who are engaged or hired to perform functions on our behalf. These functions may include sending postal mails and e-mails, delivering packages, fulfilling orders, analysing information or processing payments. Our agents will not use your personal information for any purpose other than in performing their legitimate functions for Mercury Drug. By way of exception, we may share information about you with a third party whenever mandated or compelled by law, judicial proceeding or valid legal process (i.e. court warrants or subpoenas) , or to prevent harm or injury (such as product recalls or other circumstances). Links to Other Sites Mercury Drug’s web site may have links to other sites. Please be reminded that if you decide to access these links, you will be leaving our web site. Thus, we highly recommend that you fully and carefully read the privacy policies of those sites since Mercury Drug Corporation shall not be responsible for their contents, links or privacy policies. Security In our steadfast efforts to protect your personal data and information, Mercury Drug Corporation has adopted capable security measures and protection to safeguard your personal information. We utilize generally accepted standards for safeguards including administrative, technical and hardware measures. We also ensure that additional protections are in place for privileged or highly sensitive personal information. These safeguards and security protections are constantly updated, maintained and monitored by our qualified information technology professionals. Mercurydrug.com utilizes 256 bit encryption technology, thereby offering the highest level of encryption and security possible. This means you can be assured that  communications between your browser and our site’s web servers are private and secure. Updating of Personal Information You can review and update any of the personal information you provide us by emailing us or calling (632) 911-SUKI (7854). Our customer service representatives will assist you in updating your personal information. Changes to Our Policy This policy was last updated in February 2013. We reserve the right to modify, change or amend this policy at any time. Please check this policy periodically for changes. The use of information that you provide us now is subject to the privacy policy in effect at the time of use. Use of this Mercurydrug.com web site after modification of this policy is deemed to constitute your consent to this policy as amended.