Sunday, May 17, 2020
The Challenges of the ââ¬ÅRealââ¬Â and Depth in Maus Essay
The Postmodernist movement begun after World War II in which, high and low culture are questionable in the view of society and Art. The postmodernist movement in literature creates a new set of ideals for fiction, such as the metafiction, the fable like representation in novels, the pastiche, irony, and satire. Fredric Jameson speaks about the movement and its theory in his essay ââ¬Å"Postmodernism and Consumer Societyâ⬠. He questions postmodernism in society as it creates the new societal norm of popular culture. On the other hand, Jean Baudrillard analyzes the simulacra of postmodernism in ââ¬Å"The Precession of Simulacraâ⬠. Baudrillard speaks of the ââ¬Å"truthâ⬠and ââ¬Å"realityâ⬠also as a questionable representation for the reader. Yet, both criticsâ⬠¦show more contentâ⬠¦The authoritative viewpoint symbolizes the reliable and the unreliable narrator, which shows the difference between the ââ¬Å"truthâ⬠and the ââ¬Å"falseâ⬠(1558) in a postmodernist fiction. With this said, the true/reliable point of view in a postmodernist text is an ââ¬Å"immense fragmentation and privatization of modern literature-its explosion into a host of a distinct private styles and mannerism-foreshadows deeper and more general tendencies in social life as a wholeâ⬠(Jameson 1849). It is normal for a postmodern text to have a hidden viewpoint as it creates the complexity of the narrative, and portrays depth within the fiction. Art Spiegelmanââ¬â¢s Maus II: And Here My Troubles Beganâ⬠presents itself as having an authoritative point of view on page 25, with the split panels depicting the present and past. On the left side panel, we have the present illustrating Vladek and Artââ¬â¢s relationship and the retelling of Vladekââ¬â¢s journey of survival in the Holocaust. However, on the right side we have the depiction of the concentration camp through Vladekââ¬â¢s accounts (Spiegelman 25). The break of the panels sh ows the present relationship of father and son contrast to the loneliness of Vladek in the past during hard times. Erin McGlothlin expresses the importance of the break of panel through the aspect of authoritative viewpoint as a ââ¬Å"â⬠¦visualâ⬠¦to signify the abrupt chasm between the past and present (a young, emaciatedShow MoreRelatedFACEBOOK case study Essay11495 Words à |à 46 Pageswhite Apple icons arrayed throughout the auditorium. These images very briefly reminded him of his mentor, the late Steve Jobs, who played a significant role in his professional development and his companyââ¬â¢s success. Even some of Facebookââ¬â¢s current challenges were brought about by Jobsââ¬â¢ revolution of the mobile industry. Today, Zuckerberg would attempt to engage an audience with a new product in a manner similar to Jobsââ¬â¢ flashy introductions of new innovations. Zuckerberg opened with a review of Facebookââ¬â¢sRead MoreDuchess Of Malf Open Learn10864 Words à |à 44 Pagesï » ¿John Webster, The Duchess of Malfi Introduction 3 Learning outcomes 3 Background 3 Description 4 Act 1: setting the scene 5 Courts ideal and real 5 Discussion 5 Description 8 Bosola the malcontent 8 Discussion 9 Marriage for love: family opposition 10 Discussion 10 Love and marriage: Antonio the steward 13 Discussion 14 Love and marriage: the Duchess 15 Description 16 Description 17 Discussion 19 Act 2: discovery 21 Ferdinand 21 Discussion 22 Conclusion 24 References 24 Further reading 25 Next
Wednesday, May 6, 2020
Genetic Engineering A New Era - 1800 Words
A new Era ââ¬Å"Genetic Engineeringâ⬠One day, working at a field harvesting vegetables, I saw the most horrifying creature in the world, which was a cricket with two heads, and I screamed ââ¬Å"genetic engineering!â⬠Genetic engineering is when scientist, researchers try to manipulate the genes of living creatures to create another creature. In addition, this is used to alter the traits of creatures, by combining more traits from other creatures. Basically, this is a way to benefit our society, but also to potentially worsen it with these genetically modified genes. Genetic engineering has been practiced for several years, and still is being practiced, not just with food, but also with animals, and soon with humans. It is changing our views, and making us to think we can be gods, and also we are changing the food chain by altering vegetables and fruits. Animals and plants are mutating from these horrible experiments, and can spread diseases among everyone in the world. A lthough supporters of genetic engineering say that the practice of altering genes can contribute too many cures to diseases that plagues humans and animals, it should not be legal in the United States because it is deteriorating the lives of many. One reason why genetic engineering should be illegal is because it is unsafe. Scientist and researchers are practicing these genetic engineering experiments which can lead to harmful consequences even death to humans. Plants are being used as a base of experiments to helpShow MoreRelatedEssay about Genetic Engineering: A Major Advancement for Mankind959 Words à |à 4 PagesAsimov once said, The advancement of Genetic Engineering makes it quite conceivable that we will design our own evolutionary progress.â⬠Scientists have always thought about new ways to progress through technology in our era, and in 1946, scientists discover that Genetic material from different viruses can be combined to form a new type of virus. This was a majo r discovery that trickles down to the modern era of Genetics. Current scientists have pioneered new ways to decode human DNA, beating theRead MoreGenetic Engineering: Major Advancement or Major Setback? Essay1340 Words à |à 6 PagesAsimov once said, The advancement of Genetic Engineering makes it quite conceivable that we will design our own evolutionary progress.â⬠Scientists have always thought about new ways to progress through technology in this era, and in 1946, scientists discovered that Genetic material from different viruses can be combined to form a new type of virus. This was a major discovery that trickles down to the modern era of Genetics. Current scientists have pioneered new ways to decode human DNA, beating theRead MoreWe Should Genetically Engineer our Children1024 Words à |à 4 PagesThe next major leap for humanity is genetic engineering, the process in which different genes are removed and substituted for other, more affective, genes. Genetic engineerin g has the potential to eliminate thousands of diseases, mutations, and disabilities, saving millions of lives from death and/or suffering. I suggest that we use genetic engineering, but only as a prevention to disease or other mutation genes that will make the person suffer physically or emotionally. I most definitely do notRead MoreThe Animals Of The Pigs1653 Words à |à 7 Pagesglowing green snouts are genetically engineered animals known as transgenic animals. Canadian council on animal care (CCAC) defines transgenic animal as ââ¬Å"an animal in which there has been a deliberate modification of its genomeâ⬠1. Method of Genetic Engineering to produce pigs with glowing green snouts: These transgenic pigs were produced using a technique called DNA microinjection2. For the very first time, 10 piglets with glowing green snouts were produced using this technique in year 2013 in ChinaRead MoreThe Benefits of Genetic Engineering Essay1108 Words à |à 5 Pages The engineering of deoxyribonucleic acid (DNA) is entirely new, yet genetics, as a field of science, has fascinated mankind for over 2,000 years. Man has always tried to bend nature around his will through selective breeding and other forms of practical genetics. Today, scientists have a greater understanding of genetics and its role in living organisms. Unfortunately, some people are trying to stop further studies in genetics, but the research being conducted today will serve to better mankindRead MoreGenetic Engineering: The Next Technological Leap or a Disruption to the Natural Order of Our Planet?951 Words à |à 4 Pagesbecome a new reality. Genetic engineering is a type of science defined as the deliberate modification of characteristics of organisms by manipulation of genetic material. This emerging development has managed to make its mark in our growing global consciousness and there is a rising dispute amongst the masses. While some agree that genetic engineering is the next technological leap for humanity, others believe it disrupts the natural order of our planet. Proponents of genetic engineering state thatRead MoreEssay on Genetic Enhancement is Unethical 1600 Words à |à 7 Pagesnot be too far off in the future. Designing babies using genetic enhancement is an issue that is gaining more and more attention in the news. This controversial issue, once thought to be only possible in the realm of science-fiction, is causing people to discuss the moral issues surrounding genetic enhancement and germ line engineering. Though genetic research can prove beneficial to learning how to prevent hereditary diseases, the genetic enhancement of human embryos is unethical when used to createRead MoreGenetic Enhancement - Designer Babies1618 Words à |à 7 Pagesnot be too far off in the future. Designing babies using genetic enhancement is an issue that is gaining more and more attention in the news. This controversial issue, once thought to be only possible in the realm of science-fiction, is causing people to discuss the moral issues surrounding geneti c enhancement and germ line engineering. Though genetic research can prove beneficial to learning how to prevent hereditary diseases, the genetic enhancement of human embryos is unethical when used to createRead MoreGenetic Engineering And Its Effects1592 Words à |à 7 Pagesimproving their bodies by changing the cells in your body. Genetic engineering can also prevent long-time diseases from continuing in a family and help treat many illnesses. Though it can help many issues, it brings up many problems if used improperly and often abused. Genetic engineering harbors more moral and ethical issues than having beneficial effects; however, the positive uses in specific situations should be acknowledged. Genetic history has been around for over a century now and began whenRead MoreGenetic Engineering Essay1556 Words à |à 7 PagesGenetic Engineering Genetic engineering is the alteration of genetic code by artificial means, and is therefore different from traditional selective breeding. Genetic engineering (GE) is used to take genes and segments of DNA from one species, e.g. fish, and put them into another species, e.g. tomato. To do so, GE provides a set of techniques to cut DNA either randomly or at a number of specific sites. Once isolated one can study the different segments of DNA, multiply
Tuesday, May 5, 2020
Analysis of Sales Performance and Improvement Suggestions
Question: Describe about the Analysis of Sales Performance and Improvement Suggestions. Answer: Section 1: Company Performance Formula Used BEMC has organized a total of 200 trade fairs in the first half of 2016, earning a total profit of 85,126 AUD. The company has 4 sales representatives who help the company is bringing in customers and selling them stand space and also in selling tickets to visitors. In return, BEMC pays them for their efforts. BEMC saw a total of 141 customers; a few among them were repeat customers in the 200 trade fairs. Income sources for BEMC include the following - Organizing Exhibitor stand Organizing Exhibitor travel Organizing Exhibitor accommodation Organizing Exhibitor marketing material Organizing Exhibitor hospitality Commission on rent Revenue from sale of tickets Expenses for BEMC Fees paid for all activities related to organizing Wages and Commission paid to sales representatives Formula used Revenue sale of tickets = No. of tickets sold x 1.5 AUD Total Rent for a trade fair = Rent (per square meter) x Total Area (square meter) Commission received by BEMC (on space rent) = Commission % x Total Rent for a trade fair Wages paid to a sales representative = 60 AUD x Number of hours spent by the sales representative at work Commission given to a sales representative = Commission % x Commission received by BEMC (on space rent) Profit = Income - Expense Section 2: Performance of Trade Fairs Below graph shows the total gross profits earned by a particular category of trade fair. It can be seen that food trade fairs top the list while manufacturing trade fairs are the bottom of the list in terms of profits. Trade Fair Profit (AUD) Books 5658.8 Builders 4075.1 Clothing 13255.4 Computing 10319.6 Food 16118.1 Furniture 4604.2 Government 4080.4 HRM 4723.5 Manufacturing 1667.7 Sports 2900.6 Vehicles 2171.6 Wine 15552.5 Total 85127.5 If we plot the number of times a particular category of trade fair is organized by the company, then it can be seen that Food and wine trade fairs are the most number of times organized by the company in the half of year 2016 and hence the revenues are high from these categories. Thus we can calculate the profit earned by every trade fair for each category by dividing the profit earned with the number of trade fairs. From the graph below we can say that the company must focus on Books and government trade fairs as the company earns more profit from them compared to other trade fairs. Section 3: Sales Performance of Sales Representatives The table and chart below show the total profit earned by each of the representatives. It can be seen while Chris has brought the maximum profit for the company; Alex has brought the minimum profit. Sales Rep. Total Profit (AUD) Alex 11111.6 Chris 33978.1 Jane 12215.9 Luke 27821.9 Total 85127.5 If we plot the income earned by each sales representative, it has been found that Chris has the maximum income and Jane has the least income. The interesting fact is despite having a lower income, Jane has earned more profit than Alex. Income earned by each of the sales representatives for BEMC is shown below. Also if we classify the sales representative by the amount of time spent by each of them in the first half of the year 2016, it was found that Chris has spent maximum hours and hence has been able to generate more income while Jane has spent least number of hours and has lowest income. Despite having worked for least number of hours, Jane has been able to earn more profit than Alex. Thus it can be noted that Jane is more efficient than Alex. The maximum decrease will be for Chris from 33978 to 17758. While the least decrease will be for Alex from 11111 to 8825. Section 4: Profitable Customers The chart below shows the top 5 profitable customers for BEMC. It can be seen that onlyscotchco has earned the highest profit for BEMC in the first half of 2016. These customers are very important for the company and have together contributed to a total of 10% of the total gross profits for BEMC. The company must take proper measures to retain these customers and make more customers get added to the list by taking various measures and giving incentives on repeat sales. Section 5: Suggestions Should BEMC focus on any particular (a) customer(s) and (b) Trade Fair(s), in future, and why? The top five profitable customers of BEMC are kerplonk readit bottomsup magazine onlyscotchco. These 5 customers are repeat customers and have together contributed to a total of 10% of the total gross profits for BEMC. Among 12 different trade fairs, BEMC should be focusing on government, food, builders and books trade fairs. Although these trade fairs might not have given the highest total profits, these trade fairs have the highest average profits for BEMC. The chart below shows the average profits earned by the trade fairs. What are your recommendation regarding what other data should be collected to improve decision making for BEMC? Customer Expectations BEMC must know what is a customer expecting and should collect feedback from the customer to incorporate the same. This will help BEMC in having more number of repeat customers. Market rate for trade fairs BEMC must know if the fee they are charging is optimum. Since there must be competition in the market, it might be that BEMC is either charging too high and losing customers or BEMC is charging too less and thus earning less profits. III. What are your recommendation regarding record-keeping to improve the quality of data collection and management? Attendance Monitoring BEMC must ensure that the number of spent by its sales representatives is accurately monitored by some way. Any error in it can cause huge loss to the company. Centralized Data Data entry must be done by different departments and must be cross checked by other departments. For example, the number of tickets sold needs to be verified from the What changes should BEMC make regarding any currently employed Sales Representative(s), or to the fees paid to the Sales Representatives, and why? Performance Bonus As it can be observed that Chris has demonstrated excellent performance while Alexs performance has not been very good. BEMC should give targets to the sales representatives and should give them a bonus if they meet the targets. Sales Representatives should get a commission for selling each ticket. This will increase the total number of tickets sold thus bringing more profit to BEMC. Customer feedback The Company must also take in the feedback from the customers about the employees. This will help the company to incentivize the employees to take care of customers and improve customer satisfaction. The higher customer satisfaction will help in increasing the repeat sales and brand value of the company. References Levine, D.M., Berenson, M.L. and Stephan, D., 1999.Statistics for managers using Microsoft Excel(Vol. 660). Upper Saddle River, NJ: Prentice Hall. Kelley, T.J., 2002. Using Graphs and Visuals to Present Financial Information. Retrieved from https://home.xnet.com/~jkelley/Publications/Using_Graphs.pdf Levine, D.M., Berenson, M.L. and Stephan, D., 1999.Statistics for managers using Microsoft Excel(Vol. 660). Upper Saddle River, NJ: Prentice Hall. Jelen, B., Alexander, M. (2010).Pivot Table Data Crunching: Microsoft Excel 2010. Pearson Education. Gottfried, B. S. (2005).Spreadsheet Tools for Engineers using Excel (Mcgraw-Hill's Best--Basic Engineering Series and Tools). McGraw-Hill Science/Engineering/Math. Davenport, T. H., Prusak, L. (1998).Working knowledge: How organizations manage what they know. Harvard Business Press. Shone, A., Parry, B. (2004).Successful event management: a practical handbook. Cengage Learning EMEA. Solaris,J. (2007). How to start your own event management company. Retrieved from https://www.eventmanagerblog.com/how-to-start-your-own-event-management-company Robbins, N.B., 2012.Creating more effective graphs. Wiley.
Sunday, April 19, 2020
Insurance Analysis in Kenya Essay Example
Insurance Analysis in Kenya Essay Introduction Insurance in Kenya is known to have been in existence for over sixty years now with the first insurance companies believed to have been owned by British insurers during the colonial times. The industry is governed by the Insurance Act and regulated by the Insurance Regulatory Authority. The Insurance Regulatory Authority (IRA) was created by the Insurance (Amendment) Act of 2006 and came into operation on 1st May 2007. The Authority was established with the mandate of regulating, supervising and developing the insurance industry. Before the establishment of IRA, these functions were performed by the Department of Insurance in the Ministry of Finance. (IRA 2010) As per AKI Insurance Industry Report for the year 2009, there were 44 licensed insurance companies, majority offering non-life insurance business only, nine of them life insurance business while fifteen were composite (both life and non life). There were 137 licensed insurance brokers, 21 medical insurance providers (MIPââ¬â¢s) and 3,076 insurance agents. Other licensed players included 106 investigators, 57 motor assessors, 18 loss adjusters, 2 claims settling agents, 5 risk managers and 26 insurance surveyors. The industryââ¬â¢s contribution to the countryââ¬â¢s GDP is still low although there has been notable growth for the last seven years. The gross written premium by the industry was Kshs 64. 47 billion compared to Kshs 55. 19 billion in 2008, representing a growth of 16. 8 %. The gross written premium in non-life insurance was Kshs 43. 11 billion (2008: Kshs 36. 89 billion) while that from life insurance business was Kshs 21. 36 billion (2008: Kshs 18. 30). Non-life insurance premium grew by 16. 8 % while life insurance premium and contributions from deposit administration business grew by 16. %. The combined industry profit after taxation increased by 14. 4% to Kshs. 4. 29 billion compared to Kshs 3. 85 billion in 2008. In 2009 the industry paid Kshs. 20 billion for claims for general insurance business and as benefits to life policy holders. (AKI 2009) Penetration of insurance in the year 2009 was 2. 84% compared to 2. 63% in 2008. Life insurance recorded a penetration ratio o f 0. 94% (2008:0. 87%) while that of non-life insurance was 1. 90% (2008:1. 76%). Only half a million Kenyans, about 1% of the total population are said to have take up life insurance. We will write a custom essay sample on Insurance Analysis in Kenya specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Insurance Analysis in Kenya specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Insurance Analysis in Kenya specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Up to 80% of Kenyans have no insurance cover due to widespread poverty and a false belief that insurance covers are mainly for the rich. However, based on the recent industry statistics, there is an emerging trend that Kenyans are indeed sensitive to the need for protection against an uncertain risky future. According to Swiss Re (World Insurance Report2009), South Africa is the leading African country in the insurance industry, accounting for 90% of the total volume, followed by Morocco then Egypt. Growth in non life insurance business in Africa was sluggish at 0. 4%. The report pointed out that Africa produced only 1. 4% of the global premium volume in 2009. South Africaââ¬â¢s life insurance premium fell by 16%, premium Growth in Morocco remained flat at 0. 1%, while in Egypt premiums shrank by 5%. There are currently five major players in the insurance industry in Kenya. These include The Co-Operative Insurance Company of Kenya Ltd. (CIC), UAP Financial Services Ltd, APA, Jubil ee Insurance and Resolution Health East Africa. Majority of these insurers operate nationally with a few operating regionally. Some international insurers have entered the Kenyan market through mergers with already existing players. Two of the leading companies were formed through a merger between two existing insurance companies, for instance, APA was formed after a merger between Apollo and Pan-Africa General divisions. Others form partnerships with small insurance companies to cover non-traditional policies like political violence. Solutions need to be developed to address new risks. Insurers have finally recognized the growing needs of the Kenyan people. Agricultural insurance is one of the new policies designed for farmers located in the different parts of the country to shield them from financial loss caused by unfavourable weather conditions. The Cover is provided for livestock, specific crops and poultry losses. Payment of premiums is quick and easy for the farmers, premium payments are done through a specially designed mobile application and in the event of a loss, and farmers are paid through the same method. Medical insurance is divided into three segments, one health cover operated by employers, the second individual cover and the third coverage operated by the government targeting low income earners through the National Health Insurance Fund (NHIF). Health insurers have raised concern about clients who view cover value as expensive as opposed to the benefits. Thatââ¬â¢s why insurers are coming up with affordable schemes. Medical e-cards that users top up, similar to prepaid airtime scratch cards, any member of the family can use the e-card as long it has money. Due to poor health infrastructure in the country, rural hospitals have inadequate facilities and are understaffed, thereby making people to travel to major city for treatment; this has also contributed to the rise in health insurance cost. Many insurers have shied away from HIVAIDs insurance because of the risks involved. Travel cover is currently being offered by only two insurers, one of them has partnered with Kenyaââ¬â¢s main airline company to provide a package that covers loss of luggage, flight delays, cancellation, medical emergency and personal liability. The premium cost is based on travellerââ¬â¢s destination and length of stay. Claims are made online or when the client returns from their trip. The cover can be acquired when buying a ticket or through travel agents. Higher learning has become very expensive both for local and overseas universities, forcing parents to borrow heavily from banks to pay university fees. Education policy is definitely necessary for most parents who want their kids to get good education. The industry is definitely on the growth stage and most insurers are strengthening their market share by positioning themselves as affordable insurance providers offering new products for the untapped regions such as younger and older people. Industry analysis PESTE Political Economic Social Technological Political Factors The political violence experienced in 2007 resulted in major losses for businesses and individuals mainly because current insurance companies were not offering cover for such risks. The unrest has made insurers quickly come up policies to cover these risks. Motor insurance is reported to have doubled in the last six months; the government through the Insurance Regulatory Board has increased the premiums in a move to counter fraud and fake claims known to have forced over ten motor insurance companies to shutdown due to losses incurred through claims. Economic Factors High tax imposed on life and health insurance has made policies to be expensive and affordable to a small percentage of the population. The insurance industry is pushing for tax deductible premiums paid on life and health insurance to be tax deductible from chargeable income up to 30 percent of the gross income. Income Tax Act Cap 470, Section 19(5) and (6) Poverty and unemployment are still the biggest challenges facing the industry. With no source of income for many youth and women, the last thing that this demographic prioritize is insurance. This makes it very hard for the growth and development of the insurance companies because of the low number of clients which represents the few employed people who in turn can be able to pay for the insurance policies provided by the insurance companies. This situation is further compounded by the rise of HIV and AIDS which adversely affects the working class that forms a critical target group for insurance services. The rising levels of poverty and high cost of living has reduced disposable income hence relegating insurance matters to the back burner. This is as a result of people first meeting their basic needs first before considering other expenses, which include insurance policies. Perhaps the government can relax some of the strict regulations present for private investors to encourage investment both locally and internationally. This may increase the number of the insurance companies in the country allowing more space for competition thus in the long run lowering the costs of insurance policies to the advantage of the consumers. High inflation rates has increased operation costs , raised the cost of living and therefore, made it difficult for the citizens to be able to afford insurance policies due to the current turbulent economic conditions that has led to an increase in policy prices. Fraud / Corruption largely affect the development of the insurance sector in Kenya. It has undermined the economic development of the country by generating considerable distortions and inefficiency. This makes the companies to constantly perform poorly and thus calls for the introduction of anti money laundering which helps to curb the vice. Social Factors In order to boost penetration of insurance in Kenya, vigorous awareness campaigns should be used to educate people on the importance of insurance. Policy covers should be packaged with the end-user in mind, for example selling agricultural insurance cover to non-farmers is useless. Product development should be flexible to allow the ever changing needs of the dynamic insurance industry. oIncrease in lifestyle diseases ââ¬â oIlliteracy levels spread Insurance knowledge and risk management to clients looking to reduce losses, advice clients how to manage their finances and how they can help minimize risks oInadequate health facilities Cultural values ââ¬â harambee culture oDemographic changes oNegative perception on insurance, bad publicity fraud, fake claims Technological Factors Mobile phone use has eased the communication between clients and the insurance companies in the sense that if any of the two parties want to contact the other, it becomes very simple. Increase use of the Internet has enabled customers to access information, submit claims and compare policies from different providers. Environment â⬠¢ Climatic changes â⬠¢ Emergence of informal settlements. Legal â⬠¢ Lengthy legislation process. â⬠¢ Corruption and fraud. â⬠¢ Lack of structured compensation scheme. Porters 5 Competitive Forces Analysis 1. Rivalry among existing players. The insurance industry is becoming highly competitive. The difference between one insurance company and another is usually not that great. As a result, insurance has become more like a commodity an area in which the insurance company with the low cost structure, greater efficiency and better customer service will beat out competitors. Insurance companies also use higher investment returns and a variety of insurance investment products to try to lure in customers. In the long run, were likely to see more consolidation in the insurance industry. Larger companies prefer to take over or merge with other companies rather than spend the money to market and advertise to people. 2. Threat of New Entrants. Mergers and strategic partnerships are on the rise to introduce products with low premium rates. While the industry leaders have already positioned themselves there are still untapped areas such as the youth and the older generation. Government requires all insurers to maintain a solvency margin of about USD 12,476, or 5 percent of assets in excess of liabilities. This might prevent new players from entering the market because of the high margins required 3. . Availability of Substitutes. Since the existing products in the market are similar, consumers will look for an affordable product to suit their needs. Some policies have many substitutes others have few for instance motor insurance is offered by most of the insurer while health is offered by a selected few. Most large insurance companies offer similar suites of services. Wh ether it is auto, home, commercial, health or life insurance, chances are there are competitors that can offer similar services. In some areas of insurance, however, the availability of substitutes is few and far between. Companies focusing on niche areas usually have a competitive advantage, but this advantage depends entirely on the size of the niche and on whether there are any barriers preventing other firms from entering. 5. Bargaining Power of Buyers. Individuals looking for a good cover obviously have a lower bargaining power compared to corporate customers. 6. Power of Suppliers. Foreign investors are starting to have an interest in this industry. Since insurance is still growing, existing experts in the industry tend to hop from one company to another looking for better pay
Sunday, March 15, 2020
Laissez-Faire Essays (2049 words) - Standard Oil, Free Essays
Laissez-Faire Essays (2049 words) - Standard Oil, Free Essays Laissez-Faire The American Civil War fades away. It now appears that a new social unrest has taken root in America. But the debate was to be fought in the economic world. The question was, how should the government interact with business? The issue splits into two main views, that of Laissez-faire, and that of General Welfare. Laissez-faire is a rather straight-forward philosophy. It can be best described by saying that the government should have absolutely no interaction within the business world. These thinkers trust that the governments sole purpose is to protect life and property, and that the role of government should end there. The tree of Laissez-faire has many branches, two of which are classical economics and Social Darwinism. Believers in classical economics base most of their philosophy on mercantilism and its effects. They have no doubt that government interaction with the business world is inept, and can only hurt economic growth. Social Darwinism was a popular belief. It grew from studies of Charles Darwin, and his publication, The Origin of Species. Charles Darwin argued that species had not been created, but had evolved. But most importantly to the philosophy of Social Darwinism, Darwin theorized that evolution takes place by survival of the fittest. It was that idea in s! urvival of the fittest that became the backbone for Social Darwinists. The Social Darwinists believed that the involvement of government in business interfered with the natural selection of those that were best suited to survive.(Lesson14 74) On the other side of the issue was the general welfare state. The philosophy of the general welfare state, called the Social Gospel, was advocated in part by Christians in the United States. They believed that individuality had gone too far and that it was necessary for government involvement. Increased urbanization and industrialization also led to the belief in the general welfare state. It was the opinion of these thinkers that laissez-faire was not the answer to the problems of economics.(Lesson14 74) Laissez-faire may have been a significant step in the evolution of economics to many people, but there were also many silent threats that it carried. Without government protection, big business can exploit the many people that make it work. Such exploitation could be brought about in low wages and poor working conditions, long working hours, and many others. Many believed that government protection was needed to insure fair competition and high standards of morality. In the 1860s oil became more and more essential as an everyday item. Its demand grew dramatically. The main use at that time for oil was kerosene. Kerosene was used in several ways, although its most popular use was in lamps. Crude oil needs to be refined to produce products such as Kerosene. Pennsylvania was the main location that oil refining was done in the 1860s, but times were changing. The Lake Shore Railroad helped Cleveland become one of the new centers for oil refining. It was obvious that the railroads were invaluable to the oil business. In the new refining city of Cleveland, Ohio, a new refining company was created. This company was the Standard Oil Company, owned primarily by John D. Rockefeller.(Lesson16 95) John D. Rockefeller is a legend of the business world. He started a relatively small oil refinery in Cleveland, Ohio in 1870. In just two years, it grew into an enormous monopoly, producing ninety percent of the nations refined oil (Chapter4 15). His business ethics have been hotly debated because of many apparent rebates and other schemes. The Standard Oil Companys success can be attributed to Rockefellers business aptitude. Aside from his great business qualities, the Standard Oil Companys success in the oil industry is because of the secret illegal rebates by the railroads. A rebate in the railroad business is a reduction in shipping fares in exchange for promised use of the railroads services. These rebates were brought about through the South Improvement Company, which was set up in 1872 (Lesson16 96). The South Improvement Company was designed with one mission, to destroy all competition to the Standard Oil Company, and other companies that were part of the South Improvement Company. It was started by several large corporations, including the Standard Oil Company. Rockefeller is reported to have met with other oil businesses and tell them that if they do not join the South Improvement Company, they will be wiped out of business due to the lower shipping rates given to the South Improvement Company (Lesson16 96). Eventually the public
Thursday, February 27, 2020
War Against Terrorism Essay Example | Topics and Well Written Essays - 2500 words
War Against Terrorism - Essay Example It was an act that shocked not only American but also the whole world alike. This is because the effect of the terrorist act was felt all over the world. The growing wave of globalisation has led to more interdependence between nations in the world and there is no one nation that can presume to be living in isolation. Therefore insecurity in one state has translated to insecurity in the whole word. The September 11 attack dealt a major blow to the deteriorating security situation of the world. This paper will look at the war on terror that began immediately after the September 11 attack. It will look at various discourses of the war and the progress that has been made on the war. It will try to assess whether the war has been won or it has been lost. The war on terrorism which is also called war on terror is a common term that is use to refer various religious military, political, legal and economical actions that were initiated by the US government in responding to the September 11 attack. The war was started with an aim of preventing further events of terror and curbing the growing wave of terrorism groups in the world. It was also started with an aim of scattering terrorism groups like al-Qaeda which had carried out the September 11 attack. (Horn Berger, 2004) The terror was crafted in polices and military actions that were aimed at chaining or eliminating the radical Islam movement which also started carrying out terrorism activities in other parts of the world. It necessitated the use of military action in order to drive out terrorism groups from their stronghold in Afghanistan and in other areas like Iraq. However the war on terror has remained a controversial issue even up to date and the pessimist argue that it has achieved nothing rather than making the terror groups more radical and more prepared to carry out further acts of terror. While there are those who believe that the war has help to curb terrorist activities in the world, there are others who think that the war on terror may take a long time to be won. This is because there are still various concerns about the war that continue to show the ineffectiveness in attaining its initial target of eliminating terror groups from the world. The US which has been the main crusader of the war has been accused for waging a unilateral primitive war which is not justified. It has also been accused of violation of human rights on the course of the war. For example the opening up of Guatanamo Bay has been one of the thorny issues in the world as far as the war on terror is concerned. Guatanamo Bay though opened as an interrogation centre has been turned out to be a torture den where some suspects have been held for more than five years without facing any justice. The war on terror has also been shown to be a violation of international law. As a citizen of the international community, the US and its allies have been accused of undermining the rule of law in the international community and waging the war on sovereign countries which have not been justified by the international community. In the presence of internal community and the UN which is supposed to have played a major role in arbitration of the conflict and the terror groups, the US and its allies were accused of ignoring the mandate that has been given to the international
Tuesday, February 11, 2020
Reflection Essay Example | Topics and Well Written Essays - 500 words - 36
Reflection - Essay Example sense of developing the human capital of a leaderââ¬â¢s subjects, most of the internal responsibilities of change become left with the leader alone to do, making it impossible for him to fit in well the tasks at hand. Another fault that was identified with the leader was that he did not value the need to give feedback to his subjects. In often cases, this leader would implement a plan or take a decision without letting the subjects under him know the outcome or results of such programs. Due to these faults, there was generally lack of cooperation on the part of subjects under the leader. I suggest that there should be a special meeting to put opinions for the development of various fields in this school. A development plan for the leadership of the school should therefore be generally focused on the need to bringing about a change in the leadership style used by the leader of the school. By change in leadership style, an advocacy is being made for the introduction of a democratic leadership style in which the leader learns to share the task of decision making with all other subordinates and subjects. The meeting should therefore address the assignment of roles to other members of staff so that the leader will not be left to do all things by himself. Secondly, the plan should clearly outline various ways by which the human capital of the staff is going to be developed. Specifically, there should be skills development and training for the staff to make them highly effective in their assigned roles. Finally, there should be a mechanism of evaluating and assessing the p erformances and outputs of the staff in accordance with the roles that are given to them. This way, it will be possible for the staff to identify their shortfalls and how these can be empowered for growth. My future job is the principle of school, so Im I developing myself by reading about leadership in the fields of education. This means that learning and knowledge acquisition have been an important
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