Being global in business - Free Essay Example

Sample details Pages: 8 Words: 2349 Downloads: 5 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? A Discussion of the dual pressures faced by the MNE’s to think global, act local Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2 Meshing the Realities to â€Å"Think Globally, and Act Locally† †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦..†¦ 5 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 Bibliography .†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦ 9 Introduction The Financial Times (1997) refers to an MNE as a company that operates as well as as pires to operate on an international scale and consequently thinks of its sales in terms of shares of the global marketplace rather than on a national or regional basis. Globalization, shareholder interests and competitiveness have created a climate where multinational enterprises (MNE’s) must expand or either be acquired and lose market share. To achieve such ends, they have resorted to attempting to standardize products, operating procedures, selling methodologies and approaches in what Levitt (1983, Pp 92-100) terms as homogenized operations. Don’t waste time! Our writers will create an original "Being global in business" essay for you Create order Global firms in today’s environment operate as a unified as well as consistent business system utilizing the proven Japanese platforms of just-in-time delivery, quality circles as well as continued improvement, and international corporations as a result have to transcend the considerations of local idiosyncrasies. However, recent experiences have found that said local and regional and national idiosyncrasies are in fact providing the opportunity to distinguish one’s products and firm from the bland me too image and capture the imagination as well as sales of local and national market segments. But, the requirement as well as need for multinational enterprises to â€Å"think global, act local† is not just bound in sales, it also constitutes a need to become a good corporate citizen. The preceding does not mean the sacrificing of profits for public opinion, rather it is a source via which to increase bottom line performance as the offering of services and or pro ducts in multiple markets and countries requires an understanding of the national dynamics, which are its people, customs and values (Watts et al, 2000). The premise for what seemingly is a radical approach is that business is an element of society, thus the two are interdependent (Watts et al, 2000, p. 3). We have arrived at this juncture as a result of the spread and influence of American multi national corporations since the end of World War II (Studer-Noguez, 2001, p. 2). The abuses of MNE power as evidenced by Monsanto, Cargill and Dow in agribusiness in developing countries, to companies such as Exxon, Chevron and other oil companies that undermine alternative energy forms as they drive pollution in the quest for profits are clear examples (Corporate Accountability International, 2005). MNE’s need to expand and increase market share as well as profits in a competitive environment that provides no quarter for the losers. At the same time such a singular vision can ser ve as the blinders that lead to a decrease in the forgoing through abuses, fraud, overbearing tactics and losing touch with the very foundation upon which their enterprises were built, to fill a need. Chakrabarty et al (1996, Pp 123-35) along with Bettis et al (1996, Pp 549-569) expressed, respectively, that how firms distribute, develop as well as deploy their accumulation of knowledge gained from cultural exchanges represent a major factor in the differences in performance and thus the contributing aspects of other organizational competencies and capabilities that define the differences in performance between corporations. European automotive firms such as Mercedes Benz and BMW, as well as Toyota, Honda and Nissan illustrate the foregoing. Contrary to the inwardly bound vision of American automotive forms General Motors and Ford, whose design and engineering focuses were tied to model obsolescence, these foreign automotive companies concentrated on slight model changeovers and quality thus resulting in lowered engineering costs through progression and higher overall quality whereby their vehicles out lasted and performed their American rivals (Studer-Noguez, 2001, Pp 73 97). They adapted their underpowered and under featured vehicles to fit the American preferences while maintaining their core competencies instead of copying the American automotive model and succeeded to the point where American made vehicles no longer dominate in their home market. The foregoing is maintained by Kostiva (1999, Pp 308-324) who states that the transference of organizational practices in a successful manner requires: a degree of distance, in terms of the corporation, between the locale and the headquarters office, a corporate culture that provides a degree of fit between the parent organization and the recipient, the attitude of the company with regard to openness for new ideas, and the dependency level of the subsidiary with respect to the headquarters company Chang (1995, Pp 383-407) adds that the foregoing learning process can potentially enable a company to overcome weaknesses it might have in terms of product or operating competencies and thus strengthen the company to be able to make inroads in markets where it lacked the operational foundation at the onset. The preceding aspects are important internal considerations as well as philosophies that companies must be open to in order to be receptive as well as responsive in meeting the new global dynamics as represented by international competitiveness. The preceding strikes a clear case for the fact that local influences and idiosyncrasies can add dimensions to a firm’s global competencies in product as well as operational and organizational terms. The American model of acquisition and continuing to operate in the manner that was successful in the home market represented poor sales results for General Motors as well as Ford in Europe until they changed their operational minds et (Studer-Noguez, 2001, Pp 73 – 97). The lessons go further than the outer manifestations as represented by product look, changes, adaptations and modifications to fit the demands and dictates of varied markets, it also requires an inward vision. Foreign subsidiaries must be mindful of that fact that corporate social responsibility interacts with the employees and communities in which the company markets and sells its goods or services, and this represents a substantial opportunity to gain valuable expertise as well as new methods of operation. Specifically, conclusions reached as a result of the World Business Council for Sustainable Development (Watts et al, 2000, p.4) found that: the recognition of corporate social responsibility as an aspect of human rights, along with employee rights, community, suppliers and environmental concerns, clear benefits are a result of a coherent corporate social responsibility strategy which utilizes integrity, values and a long term involvement, an opportunity for companies to utilize their own codes of conduct and core values along with the introduction and implementation of codes and values as represented by others, and the importance of the company being responsive to the cultural as well as local differences which are inherent in global business and international trade As provided in the examples as outlined for Mercedes-Benz and other European and Japanese vehicle manufacturers, the foregoing corporate social responsibility aspects can and do contribute to bottom line objectives thus presenting a framework that benefits stakeholders, shareholders and the local as well as national community in which the firm operates. Meshing the Realities to â€Å"Think Globally, and Act Locally† The achievement of the maxim of ‘thinking globally and acting locally’ is not a result that will occur of and on its own, it requires that the firm take a proactive stance to encourage and implement methodologies to cause this to happen. Lee (1999, Pp 37-44) states that the approaches to achieving the foregoing can be accomplished through: the utilization of explicit policies and a reward system which encourages the gathering, discussion, modification and utilization of knowledge gained with respect to local and national markets, having flexible corporate policies and systems in place that provide the platform for local adaptations to be received, aired, tried and implemented, policies in the human resource arena that permit as well as encourage the training, placement and utilization of local managers through a system of position and departmental rotations, a culture within the company and organization that is mindful of as well as supports the participation and input of subsidiaries, a communications platform that consists of formal as well as informal information transfer that is open to the sharing and discussion of information, The foregoing can achieve measurable results, thus eliminating the perceived notion that the introduction of socially responsive actions are negative factors in bottom line performance. Salk et al (1996, Pp 877-904) state that the preceding can be measured by the instance in which concepts are acquired in a range of areas, such as new technology applications and expertise, marketing approaches, product development, knowledge of consumer tastes, preferences, management and human resource techniques as well as manufacturing processes. Salk et al (1996, Pp 877-904) indicate that in order for the preceding to occur, the corporate climate has to be open as well as receptive to learning and evaluating, rather than utilizing a tunnel vision approach that the way things have been done are or is the way things should be done. The preceding is a variant of what Schon et al (1996, Pp 121-145) refer to as single loop learning, whereby a company continues to utilize existing routines and knowle dge as well as structures. Levinthal et al (1990, Pp 128-152) point out that the preceding is detrimental in that it does not provide for or contribute to increased or enhanced learning within the organization, and thus renewal or re-examination. Ghoshal et al (1998, Pp 464-476) indicate that the preceding can be enhanced through the establishment of social networks which help to provide for a smooth transition as well as exchange of new knowledge and information within an organization. Globalisation has the tendency to blur the vision of a corporation to the importance of the individual markets and their local customs, cultures and contributions as a part of the bigger picture. The fact remains that multinational enterprises have to remember that they are a product of their home culture and as such must resist exporting this as a commodity that does not blend, adapt and modify itself based upon the realities of the global stage. The notion that multinationals need to act and res emble their home country based upon reasons ranging from brand or consistency has some validity, but not at the expense of forcing these values upon foreign operations and locations. As the success of various corporations captures the consciousness of the business world, the tendency to emulate their practices is a natural outgrowth (Morris, 1995, Pp 25-42). Corporations in the United States, Europe and Asia need to be aware and mindful that their dominance in terms of their percentage of world trade tends to make them compete on regional terms bringing with it the attitude that their views and approaches represent the edge that contributes to their successes. The emergence of the huge trading blocks represented by the United States – Mexico and Canada, the European Union and Asia – China is causing global trade to develop a more regionalized view in terms of expansion as firms within these blocks seek to capitalize on the inherent opportunities that exist in close pro ximity to their home operations (Verbeke et al, 2004, Pp 3-18). Conclusion The continually shifting fortunes of international trade, forces multinational enterprises to define and redefine themselves in keeping with the dictates and demands of seeking and maintaining a competitive edge. This global view is an inherent aspect of maintaining growth in keeping with the demands of shareholder and corporate objectives. However, as shown by the examples of the American automotive companies, General Motors and Ford, a limited perspective with regard to world markets and thinking globally can leave a company without the understanding or knowledge of what is occurring in national and local markets that are imperative in capturing the minds of prospective consumers. By tapping into this cultural foundation companies stand to benefit from an increased understanding of what consumers want in their own local and national worlds, which differs from a global vision. Thinking globally and acting locally is not a trend, fad or phase that represents a new philosophy, it is a strategic initiative that is based in the realities of the demands and dictates that different markets demand customized approaches that can only be gained via corporate structures and process organized to recognized, evaluate and accept them. The processes of bottom line, growth and market share are not at odds with local dictates, consumer preferences and corporate social responsibilities, in fact they are integral aspects of the process of being a global company. Perhaps David Lilienthal’s (1985) definition provides the clearest insight â€Å"†¦ corporations which have their home in one country but operate and live under the laws and customs of other countries as well†. The operative thought in Lilienthal’s (1985) definition is â€Å"†¦ laws and customs of other countries as well†. It provides a clear perspective for ‘thinking globally and acting local ly’! Bibliography Bettis, R., Lei, D., Hitt, M. (1996) Dynamic Core Competencies Through Meta-Learning and Strategic Context. Vol. 22, Issue 4. Journal of Management Chakrabarty, A., Bierly, P. (1996) Generic Knowledge Strategies in the U.S. Vol. 17. Strategic Management Journal Chang, S. (1995) International Expansion Strategy of Japanese Firms. Vol. 38. Academy of Management Journal Corporate Accountability International (2005) Current Campaigns. https://www.stopcorporateabuse.org/cms/index.cfm?group_id=1000 Financial Times (1997) The Global Company, Business on the World Stage. October – November 1997. Financial Times Ghoshal, S., Tsai, W. (1998) Social Capital and Value Creation: The Role of Intrafirm Networks. Vol. 41. Academy of Management Journal Kostova, T. (1999) Transnational Transfer of Strategic Organizational Practices. Vol. 24. Academy of Management Review Lee, J. S. (1999) Organizational Learning in China. Vol. 42, Issue 1. Bus iness Horizons Levitt, T. (1983) The Globalization of Markets. Vol. 61, Issue 3. Harvard Business Review Levinthal, D., Cohen, W. (1990) Absorptive Capacity: A New Perspective on Learning and Innovation. Vol. 35. Administrative Science Quarterly Lilienthal, David (1985) Management and Corporations. April 1985. Symposium at the Graduate School of Industrial Administration, Carnegie Institute of Technology Morris, J., Innes, E. (1995) Multinational corporations and employee relations. Vol. 17, Issue 6. Employee Relations Salk, J., Lyles, M. (1996) Knowledge Acquisition from Foreign Parents in International Joint Ventures. Vol. 27. Journal of International Business Schon, D., Argyris, C. (1996) Organizational Learning II: Theory, Method and Practice. Addison Wesley. ISBN: 0201629836 Studer-Noguez (2001) Global Strategies of MNE’s and Government Policies. 1st Edition. Routledge. ISBN: 0415205794 Watts, Phil, Holme, Richard, Tinto, Rio (2000) Corporate soci al responsibility: making good business sense. January 2000.World Business Council for Sustainable Development, Geneva, Switzerland Verbeke, A., Rugman, AS. (2004) A Perspective on Regional and Global Strategies of Multinational Enterprises. Vol. 35, Issue 1. Journal of International Business Studies

The Legacy Of Lyndon Baines Johnson - 1332 Words

Early life Lyndon Baines Johnson was born in Stonewall, Texas on August 27, 1908. He grew up right there in his hometown. His parents were Samuel Elay Johnson Jr. and Rebekah Baines. He was accompanied by his siblings Sam Houston Johnson, Rebekah Johnson, Lucia Johnson, and Josefa Johnson. For school he would run to the nearby, one-room junction school. He grew up on a farm but his grandfather had a dream of him becoming a member of the U.S. senate. He was a responsible young adult and out of college he knew that he wanted a higher level of education. He enjoyed learning and teach others so he once dropped out for a year to be a principal and teach children of fifth, sixth, and seventh grades. Middle Life Lyndon b Johnson was a school†¦show more content†¦Presidents. Supposedly even more than Franklin D Roosevelt. He gave a speech known as And We Shall Overcome which told of him question the 15th Amendment to Congress as well as other propositions. The results of the election was that LBJ won by one of the largest margins in election history. Lyndon B Johnson had a very expected inauguration. He had already proven to the citizens that he would make a great President because he had gone up to that position before. In his inauguration speech, which happened on Monday, March 15, 1965, he used the phrase we shall overcome in which he had borrowed from African American leaders who were struggling for equal rights. He planned to carry on the Liberal mindset and thoughts that were once strongly represented by Franklin D. Roosevelt. As stated before there is a large debate as to who is a bigger Liberal, Roosevelt or Johnson. Also, other people are brought to mind on the subject such as Hubert Humphrey. Out of the many things that were named throughout presidential times, Johnson labeled his domestic agenda The Great Society. The most substantial parts of this were about bringing aid to underprivileged Americans, protecting American consumers, and regulating natural resources. He also included in it environmental protection laws, as well as ensuring the preservation of land and the landmarks within them. Troubles for the President Lyndon B Johnson s troubles started out while he was just becoming the

The Role of Banks in Economic Recessions - 1644 Words

The role of banks in economic recessions 05.05.2009 In today’s wavering global economic context, the word `crisis` is omnipresent, taking the media by assault and infringing into the population’s daily life, although many countries haven’t even officially entered recession yet. Although recession is generally referred to as a negative Gross Domestic Product growth for a period of at least two consecutive quarters, other important economic change variables, such as current national unemployment rates, consumer confidence, capacity utilization, spending levels and business profits must be taken into account when defining a recession and its attributes. Therefore, recession can be†¦show more content†¦Apparently, central bankers and financial supervisors are to blame, too. Although official reports have constantly been giving warnings about excess global liquidity, urging central bankers to worry about asset bubbles even when consumer-price inflation w as low and banking supervisors to look beyond individual firms to the soundness of the financial system as a whole, they failed to act, allowing credit-driven excesses to expand rapidly. Therefore, central bankers are accused of failing to appreciate the scale of risks being built up in the â€Å"shadow† banking system that modern finance had created and of fuelling a credit bubble by keeping money too cheap for too long. But the criticisms are most often directed at the Federal Reserve, blamed for cutting the federal funds rate, which fuelled the housing bubble and aggravated the commodity-price surge. The interest-rate cuts in late 2007 and early 2008 may have been appropriate for a weak and financially stressed American economy. But they sent the dollar tumbling and left monetary conditions far too loose in many emerging markets that chose to link their currencies to the dollar and whose economies had long been growing beyond their sustainable pace. With all these complex problems coming along with the financial crisis, it seems that the â€Å"one tool, one target† approach which central bankers used to utilize in order toShow MoreRelatedThe Transition Of Central Bank1478 Words   |  6 PagesThe last five years have been peculiar for the global economy, with recession looming around. Consequently, the role of future monetary policymakers and the interpretation of the effects of the policies have become desperately critical. In order to restore the ailing financial markets, central banks have engaged in activities aimed at reducing the interest rates to zero and expanding the balance sheets. 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Discovery of Biologics

Question: Write an essay on System Pharmacology? Answer: Discovery of Biologics Biologics are considered as large revolutionary molecules. These molecules are capable of modifying the biological responses of the body. These biologics are the result of target-based drug discovery where the biologists used their complete knowledge of the disease pathophysiology to recognize the main culprit biological targets and against those culprits they managed to develop biologics using advance manufacturing techniques (Singh et al. 2012). These biologics are helpful to inhibit the action of several components in the immune system, which play key roles in inflammation and considered as the main feature of Rheumatoid Arthritis (RA) (Nam et al. 2010). In the context of drug discovery process, the validation and the identification of TNF as a prospective therapeutic target lead to the expansion of biologics (infliximab) is discussed in following paragraphs. Target Identification and Validation It is observed that enhanced expression of HLA-DR and presence of rheumatoid factors found in diseased joint synovium points to the immune pathogenesis of rheumatoid factors. Generally, IL-1 is followed by the mediators of the systematic inflammation such as CSF-2 (colony stimulating factor-2), TNF-, IL-6 and others like CD-20 and IL-12 are also found synovium and identified as popular targets of biologics (Galloway et al. 2011). Anti CD4+ was used in the first trials. However, the research was failed. After the collapse of CD4+ antibodies, the research was continued to recognize the main culprit, which could be blocked to inhibit the other factors of inflammation. In many types of research it is observed that use of rheumatoid synovial cell cultures showed that the mRNA expression for IL-1 is astonishingly extended in the synovial cell cultures while comparing with the expression of IL-1, which is derived from stimulated leucocytes (normal) (McInnes and Schett, 2011). The findings in this context are extremely helpful to prepare a model, which is may be used successfully outside the normal biological context to study the functional gene product, which involves Rheumatoid Arthritis (Drutskaya et al. 2010). Using the model, it is further found that antisera against TNF (Tumor Necrosis Factor) can oppose the expression of IL-1, within three days of administration (Aaltonen et al. 2012). This finding further unr aveled the new generation of an investigation, which consider TNF has the prime importance to coordinate the cytokine response in rheumatoid arthritis. Also, the effect of anti-TNF antisera on IL-8, IL-6 and GM-CSF was investigated. From the studies, it was established that recruitment of blood leucocytes due to the TNF through chemokines and adhesion molecules mediate the process of inflammation (Furst, 2010). Testing of Biologics in animal models of Rheumatic Arthritis In further researches, it is observed that the appearance of TNF (Tumor Necrosis Factor) and its receptor are facilitated in affected tissues (Galloway et al. 2011). Hamster monoclonal antibodies against TNF were tested in CIA (collagen induced arthritis) model of rheumatoid arthritis (considered as the best model). This test was helpful to prove the validity of TNF as the major target (biological factor) in rheumatoid arthritis. It is found that application of 300 and 500 g weekly (twice) can minimize the intensity of the clinical symptoms (Aaltonen et al. 2012). As a result, the expression of TNF (precisely spatial expression) is reduced, and histologic symptoms of treated mice showed progress, which includes, cellular infiltrate reduction, chondrocyte apoptosis and joint destruction (Dixon et al. 2010). It is observed that dispensing of anti human anti TNF- monoclonal antibody" can stop the symptoms of spontaneous arthritis in "transgenic mice," which showed the over expression of TNF (Furst, 2010). It is also found that many researchers obtained promising results by using CIA model (Galloway et al. 2011). Therapeutic agents with anti-TNF potential Many researchers tried to find out biologics, which have miraculous therapeutic potentiality. To share the dream, many pharmaceutical industries tried to prepare different innovative agents. One of the fruitful results of these researches is he design of cA2, which is widely known as infliximab. Centocor first prepared this chimeric antibody against biological target TNF. The murine hybridoma was used to chimarized murine Fv segment with the human IgG1, K backbone (considered as Fc fragment). Clinical studies It is important to calculate the tolerable dose; therefore, to calculate the maximum tolerable dose, toxicity studies took place. From the previous studies, it was observed that 20mg/kg/2 weeks dose was enough to get the best result (Nam et al. 2010). However, also, different biomarkers such as ESR (erythrocyte sedimentation rate), IL-6 and (CRP) C-reactive protein are declining within seven days as well as the level of rheumatoid factors, resulting in the improvement of the clinical and symptomatic features (Dixon et al. 2010). On the other hand, in a "double-blind, randomized trial" placebo was compared with 1 and 10 mg/kg doses of cA2. After four weeks (washout periods), the experimental group and subjects of controls were infused with solutions, however, the appearance of which remained same. The response was further measured after 4th week with the help of Harold Paulus criteria, where most of the respondents were found in 10mg/kg doses. After the first trial efficacy and safety proof were established and then phase 2 trials were introduced. In phase 2 trials, 1, 3 and 10 mg/kg of cA2 was administered with or without 7.5 mg of methotrexate/week. From the result, it was observed that all doses have the synergic response with MTX while comparing with mono-therapy. After the completion of phase 2 trials, phase 3 trial began. This phase 3 trial was also known as ATTRACT (Anti-Tumor Necrosis Factor Trial in Rheumatoid Arthritis with Concomitant Therapy) trial and include the administration of MTX and infliximab. Four doses (3 and 10 mg/kg for four weeks and eight weeks) of infliximab were compared with MTX plus placebo. In observation (at 30th, 54th and 102nd week) showed that nearly 50% of patients have improved clinical symptoms as well as developed physical functions (Dixon et al. 2010). On the other hand, the Taylors radiography demonstrated a single dose of infliximab could reduce 50% of granulocyte accumulation in joints. The license of using infliximab against TNF was permitted after showing the clinical trials. However, measurement of benefit to harm ratio of biologics are still under investigation. References Aaltonen, K.J., Virkki, L.M., Malmivaara, A., Konttinen, Y.T., Nordstrom, D.C. and Blom, M., 2012. Systematic review and meta-analysis of the efficacy and safety of existing TNF blocking agents in the treatment of rheumatoid arthritis.PLoS One,7(1), p.e30275. Dixon, W.G., Hyrich, K.L., Watson, K.D., Lunt, M., Galloway, J., Ustianowski, A., Symmons, D.P.M. and BSRBR Control Centre Consortium, 2010. The drug-specific risk of tuberculosis in patients with rheumatoid arthritis treated with anti-TNF therapy: results from the British Society for Rheumatology Biologics Register (BSRBR).Annals of the rheumatic diseases,69(3), pp.522-528. Drutskaya, M.S., Efimov, G.A., Kruglov, A.A., Kuprash, D.V. and Nedospasov, S.A., 2010. Tumor necrosis factor, lymphotoxin, and cancer.IUBMB life,62(4), pp.283-289. Furst, D.E., 2010, April. The risk of infections with biologic therapies for rheumatoid arthritis. InSeminars in arthritis and rheumatism(Vol. 39, No. 5, pp. 327-346). WB Saunders. Galloway, J.B., Hyrich, K.L., Mercer, L.K., Dixon, W.G., Fu, B., Ustianowski, A.P., Watson, K.D., Lunt, M., Symmons, D.P. and BSRBR Control Centre Consortium, 2011. Anti-TNF therapy is associated with an increased risk of serious infections in patients with rheumatoid arthritis especially in the first six months of treatment: updated results from the British Society for Rheumatology Biologics Register with special emphasis on risks in the elderly.Rheumatology,50(1), pp.124-131. Galloway, J.B., Hyrich, K.L., Mercer, L.K., Dixon, W.G., Ustianowski, A.P., Helbert, M., Watson, K.D., Lunt, M. and Symmons, D.P.M., 2011. The risk of septic arthritis in patients with rheumatoid arthritis and the effect of anti-TNF therapy: results from the British Society for Rheumatology Biologics Register.Annals of the rheumatic diseases, p.annrheumdis152769. McInnes, I.B., and Schett, G., 2011. The pathogenesis of rheumatoid arthritis.New England Journal of Medicine,365(23), pp.2205-2219. Nam, J.L., Winthrop, K.L., Van Vollenhoven, R.F., Pavelka, K., Valesini, G., Hensor, E.M.A., Worthy, G., Landew, R., Smolen, J.S., Emery, P. and Buch, M.H., 2010. 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