Thursday, October 31, 2019

Oedipus the King Essay Example | Topics and Well Written Essays - 1000 words

Oedipus the King - Essay Example The truth is, he is strongly inclined towards laws laid down and social order as far as the harmony and balance of the society is concerned and his uses his intelligence and secretive action to live up to that towards the end of the play. He can be categorized as a wise man and being capable of supporting a free outlook when under limited societal influence and peer pressure. Much like other citizens and political figures in Thebes he possesses a powerful mind as is seen later in the play as his action plan is disclosed beating Oedipus as well as Jocasta’s mind games (MacKay, 1962). Deception and in some ways being misunderstood due to the complexity of his character are common reactions associated with the character of Creon. The fact that he symbolizes a political figure that has great respect for social order is negated by his ability to commit clandestine; these acts direct the audience towards a completely different line of thought. A lot of the initial preconception as f ar the nature of his character is concerned is attributed to the fact that initially at the beginning Creon is shown in isolation with the people of Thebes. It was only later that his character is seen to have some interest in the society. ... Creon’s defense was such that this decision was a reflection of the thought process of a business man who possessed strong political orientation; this makes him a master manipulator, who has the valuable ability to choose the right time to speak, take meaningful action and always consider the presence of the audience; An example of his artful manipulation being the fact that he does not reveal his news despite the continuous insistence of Oedipus and Jocasta and instead equivocating and dissembles happily. His ability to be reasonable and his strong opinion which he raises against the king by hinting the unequal distribution of power despite the united rule of Oedipus an Jocasta is perhaps commendable but it is also a foolish move as he openly hints that Oedipus is king simply because of the power the title holds. His candid opinion gets the attention of the audience who at first disapprove however it later becomes the focus point of their sympathy as he is banished due to it: â€Å"I was not born with such a frantic yearning to be a king- but to do what kings do. And so it is with every one who has learned wisdom and self-control† (36.587-590). So with time Creon’s mistake which he pays for by speaking against the king later transcends to be a voice of reason that speaks in favor of social order and equality in ruler ship making Oedipus look like a fool. Creon captivates the audience through this situation, a scenario so artfully played out where he is punished for his individual reasoning and valid outlook. A critical way to analyze this situation through another perspective would suggest that Creon was manipulation the circumstances so that they would work in his favor. It is later revealed that he actually

Tuesday, October 29, 2019

Contract and Procurement Essay Example for Free

Contract and Procurement Essay Contract and procurement are imperative operations that should be done appropriately for the success of an organization. More often than not, people who are in judge of procurement do take these activities less seriously (MOLENAAR, 2007). Due to such concern most institutions have put in place stringent measures that control all the procurement transactions. In addition to that, people should be employed to be responsible for this duty according to the policies of many institutions should be highly trained (MOSEY, 2009). This sudden change that has taken place in many companies and organizations has real improved the output of the department of procurement hence most activities run smoothly as scheduled. The directors of the department of procurement partly determine the success or the failure of a project that is undergoing. Therefore, the managers of projects work very closely with the procurement officers to ensure that everything that is required is provided whenever its need arises. It is significant that, there exists a good relationship between the project managers and the procurement officers (MOSEY, 2009). If that is not the case, then there shall be contradicting ideas that will jeopardize the progress of the project. It is worth noting that, the duties and responsibilities of the procurement officers vary in accordance with the structure of an organization. This shows that, different procurement divisions have got structures which are designed to make management coordination and monitoring. This arrangement is imperative in improvement of the efficiency of the procurement activities. As aforementioned, the project manager should coordinate the transaction in collaboration with procurement manager to acquire all the requirements. The transactions which are carried out to achieve this are done un der the interpretation of the set policies, rules and regulations (BOWER, 2003). The rules and regulations set by the institution to ensure that the activities are carried out in harmony within all the departments that exist in a company. Unlike in the past, procurement process has dynamically changed and incorporated more activities. It only used to involve purchasing of goods and services required, but that is not the case nowadays (MOSEY, 2009). In procurement planning is done first. It determines whether to purchase a given commodity and if it should be bought the way it should be bought and quantity to be supplied. After this, reliable and potential supplies are determined, and contracts made with to supply the goods ordered (MOLENAAR, 2007). Before a contract is signed, thorough scrutiny is done by evaluating the proposals of the shortlisted vendors and interviews conducted to select the one that is unparalleled in offering those services and goods. After that, the one that emerges the best is awarded the contract. Supervision of the supply is done by the procurement office. Procurement process gives support to the internal activities that are done within an organization. The operations served include management, production and marketing services. It supports all the processes, infrastructure and systems required by the projects. In other the dimension, a procurement body that is independent and separate provides all the things required by the project on a transaction basis (BOWER, 2003). In this case, the director of the project gives a list of things which are required and the procurement officer buys and coordinates the goods until they reach at the company to be used. In either organizational structure, the procurement manager is involved in generating and managing the operational transactions and the linkage that exists between all the stakeholders of the project. This relationship that is created by the procurement manager exists in the whole procurement cycle period (MOSEY, 2009). The relationship between procurement professionals and the project management team is significant in that it creates a better environment for cross functional participation of all stakeholders. Moreover, it enables the procurement department to produce the best services to the project (DINSMORE CABANIS-BREWIN, 2011). Therefore, for the procurement office to fit properly in the organization it must be well acquitted with the management strategies of the project. In a project based organization, there are about five general steps of procurement. Foremost, in collaboration with management, the procurement office should determine the requirements of the project. After determining what the requirements, the supplier is selected, who in agreement with project managers and the procurement professionals is given a contract to supply goods and services. The procurement department supervises and conducts routine assessment on the performance of the supplier until the contract ends (DINSMORE CABANIS-BREWIN, 2011). In centralized corporate management, there is an interaction between the principal stakeholders; the corporate purchasing coordination team, the chief executive officer, the chief purchasing officer, the managers of the business units and the purchasers of the business unit (SANKAR RAU, 2006). All of them have well defined roles and responsibilities in the procurement process. Most companies use formal organizational mechanisms like working groups and commodity teams, non-formal mechanisms of networking like employing competent people and initiating development programs, advanced systems of communication and use of complex management strategies (PENFIELD, 2010). In the centralized business unit procurement, the business units operate autonomously despite the fact that they are under one enterprise. The business unit creates a procurement order ships it to another business unit for supplier. Proper accounting records are kept to show the financial transactions between the two business units (SANKAR RAU, 2006). References BOWER, D. (2003). Management of procurement. London, Thomas Telford. DINSMORE, P. C., CABANIS-BREWIN, J. (2011). The AMA handbook of project management. New York, American Management Association MOLENAAR, K. R. (2007). Alternative project delivery, procurement, and contracting methods for highways. Reston, American Society of Civil Engineers. PENFIELD, P. C. (2010). A primer on negotiating corporate purchase contracts. [New York, N.Y.] (222 East 46th Street, New York, NY 10017), Business Expert Press SANKAR, C. S., RAU, K.-H. (2006). Implementation strategies for SAP R/3 in a multinational organization: lessons from a real-world case study. Hershey, Pennsylvania, CyberTech. MOSEY, D. (2009). Early Contractor Involvement in Building Procurement Contracts, Partnering and Project Management. Chichester, John Wiley Sons.

Sunday, October 27, 2019

Business Environment At Mahindra And Mahindra Commerce Essay

Business Environment At Mahindra And Mahindra Commerce Essay The company was established in 1945 with the assembly line of Willy s jeep in India and now it is a 7.1 billion Indian and multinational company all across the globe. The main motive of the company is to become the global leader in the field they enter. They have more than 100000 employers employed in their company all across the globe and enjoy leadership in the utility vehicles, tractors and in the Information technology sector and also now they have entered the 2 wheeler segment in India they trying to become the global leaders in that also as the existing big 2 wheeler market players. It also has its presence in financial sector, tourism sectors, infrastructure sector, logistic and trade sector. Mahindra is the only Indian company with full range f tractors all across the globe and market leader in its CVs, MUVs, SUVs and SEDAN. Mahindra company recently took a major stake of the REVA the electric car to enter the electric car market segment is now known as Mahindra Reva in the segment and all over. Mahindra also entered the information and technology segment by taking a hostile takeover of SATYAM TECH CO LTD. In India to get a global market leadership in the information technology sector and show some skills in the sector. Also it took over the KINETIC INDIA PRIVATE LTD. Company the one of the best in the 2 wheeler segments as to enter the 2 wheeler markets and now the company is known as Mahindra 2 wheelers so as to become the global leader in the country and all across. The company is one amongst the A+ rated companies in the GRI list of rating companies in 2008-09. (http://www.mahindra.com/OurGroup/Overview.html) COOPERATE GOVERNANCE:- à  The cooperate governance code means to achieve best out of everything and to give best of the benefit to the stake holders and to the context to achieve the best performance environment in the market and in the cooperate world. According to Mahindra and Mahindra governance is not just system, metrics, processes .according to the company it is inheriting itself with beliefs, its culture, values, and motives and its ethics leading to transparency and accountability which is good governance according to the company. When there was hit of recession in the country there was a flood of legal notifications firing of people and a new set of rules and regulations were made but there was no change in the Mahindra and Mahindra company because they follow a good cooperate governance and also a good set of legislation reforms which make the company different from the other companies. The company follows a code of conduct which are made by director of the company and by the senior management and employees and those are:- 1. Director shall not take for themselves personally any business opportunities that belong to the Company or are discovered through the use of corporate property, information or position. 2. Director shall not corporate property, information or position for personal gain. 3. Director shall represent the interests of the shareholders of the Company 4. Director shall exhibit high standards of integrity, commitment and independence of thought and judgement 5. Director shall dedicate adequate time, energy and attention to ensure the diligent performance of his/her duties including making all reasonable efforts to attend Board or Committee Meeting 6. Director shall comply with every provision of this Code. (http://www.mahindra.com/OurGroup/CODEOFCONDUCTFORDIRECTORS.pdf) Cooperate governance code for management and employees:- Management will ensure that the company is running under sound economic environment principles and is working properly with a balanced allocation of resources to support the companies responsibilities to each stake holder of the company. System and policies should be transparent and should be known to everyone and shall be known to everyone. The management would take out only those business processes or approve only those business processes that are strong and robust so as they are judicious and worthful. The management committee is committed to seeking long term profits with no compromises. The decision towards employees should be transparent and should not be done due to its caste, creed, gender, religion or handicap of the employee. Every employee would be given the task which is best suited to it and is favoured to it and is capable of doing it. The employees can give new ideas and they are welcome and rewarded for their new ideas in the company. Employees will be provided safe and healthy environment and with full time devotion towards them. (http://www.mahindra.com/OurGroup/CODEFORSENIORMGMTCL49.pdf) Long term Sustainability of Mahindra and Mahindra:- à   Environmental changes and societal changes in the economy and in the market Mahindra and Mahindra Company have eagerly entered into new risk markets like the information sector and in the 2 wheeler market for more avenues and revenues from the market and benefiting the company. The Mahindra and Mahindra Companys sustainability is strategically is integrating in the business ventures and making intrinsic decision making processes. In the last three years the sustainability of the company has traversed from intentions to commitments and from commitments to road ramps that is fulfilment of commitments and then presenting in front of the consumers to fulfil their expectations. The company after integrating and controlling the environmental factors and social factors of business and management is able to establish a connection between financial and strategic and sustainability directions of the business. (http://www.mahindra.com/sustainability/Mahindra%20CSR%202009-10/sustainabilityHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/sustainabilitycontext.aspHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/sustainabilitycontext.aspus/sustainabilitycontext.asp) The sustainability structure is divided into 3 tier system:- One tier:- à  It comprises of senior members of committee that is the senior board of directors which handle the management of the company and also take care of the stake holders report and the company stake. It is also called as cooperate sustainability council . Middle tier :- à  It is the back bone of the company as it handles all the sustainability initiatives like:- 1. To ensure the approved strategies are in action 2. To purpose strategies, action plans, scoping of the report to the sustainability council. 3. To develop plans to all the sector of the groups. 4. Ensuring share of knowledge and capacity team building among each sectors and monitoring and collecting data from each sector. Also known as the cooperate sustainability cell 3. Third tier:- à  The sector consists of a team of 8 to 10 members which collect all the data and analyze the data and monitoring the data. They are responsible for:- 1. Coordination between the sustainability council 2. Differntiating the information with respect to the data collection of the core team collection. 3. Ensuring all the complied data with respect to the sustainability initiatives including the G.R.I UNIT. This tier is also known as sustainability champions (http://www.mahindra.com/sustainability/Mahindra%20CSR%202009-10/sustainabilityHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/sustainabilitystructure.aspHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/sustainabilitystructure.aspus/sustainabilitystructure.asp) There are certain factors which are affecting the company and its business in the market. Those factors are:- Political factors à  The political factors which are affecting the company is that participation of the employees of the company in political parties that is the company does not allow itself in the involvement of any political party but it allows its employees to participate which is a wrong process it affects the image of the company as the employer is representing the company when he or she is participating in the political violence or non violence activities this would affect the company s reputation and also the affairs in the market. Few factors related to the industry are:- 100%fdi policy Change in taxation policy Subsidy from loans of government. Regaining dynamism a key goal of eleventh five year plan. (http://www.slideshare.net/sitansusekharsahu/strategic-analysis-of-mahindra) 2.Economical factors:- à  Economic factors means utilisation of the resources in the fullest so as there is no wastage of resources while producing the product but there were various causes affecting the economical conditions of the company ,increasing cost of raw material is the biggest threat for the company and also the regulatory norms imposed to safe guard the environment ,fuel efficiency less use of more smoking vehicles ,volatility in financial market, escalation of raw material market, effect of the supply chain in the market are few causes affecting the economic stability of the company. Social factors:- à  Socially the company works for different group to promote its brand and to create a good image in the market so as people see the company in good reason; the company goes hand in hand to fulfil its social responsibility for the economy and also the everyday business responsibility The company gives 1% of the after tax profit to the CSR (cooperate social responsibility) group which is the group created by the Mahindra and Mahindra company to help the people around them and to boost up the economy and give other people a new chance. The initiative of the group created is to help the disadvantaged section of the society and the company, like people who are uneducated help them to educate and people who are good in something improve their skills and help them to boost up in the world they are in and gain confidence in themselves. They created another group called ECOPS that is a group of employers social responsibility group in which the employee is benefitted in it that is the employer kids and family are made to get educated and given work to do and their children are send to schools where they study and are made to things they like to do .The CSR group also helps the people to give them financial support and also give the shelter who dont have shelter and also the group keeps in touch with the nongovernmental organisation to help people, they come up organisations to save girl child and mid day meals in school and to their employees to keep them happy ,helping flooded areas in India and also helping the crippled people and cochlear people so to promote the brand of the company and help the country socially and economically . (http://www.mahindra.com/sustainability/Mahindra%20CSR%202009-10/sustainabilityHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/socialresponsibility.aspHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/socialresponsibility.aspus/socialresponsibility.asp) 4. Technological factor:- à  New technology can create new products and new innovations in the market and also it helps in reducing the cost of the product and also it helps in getting a new product launched in the market to become the leader in the market, Sometimes the new technologies in the industry leads to reduce in the life cycle of the product . The factors affecting the production due to new technology are:- new innovation in the technology or continuous innovation n the technology renewable energy development (http://www.slideshare.net/sitansusekharsahu/strategic-analysis-of-mahindra) 5. Environmental factors:- à  The environmental factors of the company matter the company a lot as the company depends on the environment of the company and also the environment outside the company as the company uses the go green policy that is less use of carbon producing products so as it does not disturb the social and economic environment of the country and the place they are working in .the products produced in the company are made n such a way that the environment is also safe and less of carbon monoxide is produced from the commodities they are producing for the consumer and the product does not harm the consumer .the company s initiative is on green building and alternative fuel front. They are focussing on green building and fuel efficient products for the consumers and energy efficient products. (http://www.mahindra.com/sustainability/Mahindra%20CSR%202009-10/sustainabilityHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/environmentresp.aspHYPERLINK http://www.mahindra.com/sustainability/Mahindra CSR 2009-10/sustainabilityus/environmentresp.aspus/environmentresp.asp) 6. Legal factors:- à  As the company is globally situated and work in different countries so legal changes happening in the world or in the other parts and also in the country can affect the company a lot. There are certain legal changes which have happened in recent years in the economy globally and have affected various firms globally. the legal systems can affect the cost of the product and also the production of the product produced by the company .the legal system can also affect the demand of the product produced by the company. To avoid various problems the company has accepted various factors to go through legal systems like:- collaboration with government in various shapes of policy agricultural policy bank system policy (http://www.slideshare.net/sitansusekharsahu/strategic-analysis-of-mahindra)

Friday, October 25, 2019

Valley Winery Case Essay examples -- essays research papers

The Valley Winery-Case 1.1   Ã‚  Ã‚  Ã‚  Ã‚  Is the management of Valley Winery doing an acceptable job of hiring and training qualified employees?   Ã‚  Ã‚  Ã‚  Ã‚  Management is the foundation of a company. They are the ones that make decisions which could make or break a company. They personify how the company and employees should act. If one is driven towards perfection in sales, many other important areas of the business could be overlooked. For example, maintenance of long term relationships with buyers would be overlooked. If management is pushing the sales reps to just go after the sale at any cost, reps could be looked at as unethical and even too pushy. Valley Winery management encourages reps to lie about how many cases of wine are sold to buyers. This is unethical and puffery. Pushing these sales reps to call their ethics into question, what does that say about management?   Ã‚  Ã‚  Ã‚  Ã‚  Pat Waller, employee of Valley Winery, was recently promoted to sales manager of the San Francisco region’s chain division. When he arrived, he was shocked to find that such a successful division had such a horrible turnover rate. How was the San Francisco division of Valley Winery obtaining their sales goals? He began to investigate and found many problems that were mainly stemming from management. The hiring process of Valley Winery needs to be revised. Mike Wehner, personnel manager for the San Francisco division, believes that employment agencies provide the most qualified applicants. If this is true, would the turnover rate be near 100 percent? According†¦., employees acquired from employment agencies yield high turnover rates. Top management places too much of an emphasis on youth and physical attributes. Sales representatives of Valley Winery should be groomed and well kept. However, youthfulness and physical attributes should not outweigh quali fications for the job at hand. Looks are important but qualifications and experience would not be overlooked. Businesses have an image they would like their representatives to project.   Ã‚  Ã‚  Ã‚  Ã‚  Once qualified sales representatives have been hired, proper training should be enforced. The Valley Winery new recruits are not given a true portrayal of everything their new sales job entails. During the hiring process, a sales hopeful is sent into the field for ... ...p;  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   -Professional Growth All of these factors can lead to or be affected by negative affectivity. This figure describes how negative affectivity can affect a person’s productivity. Negative affectivity is the state of mind a person gets in if experiencing a tumultuous work environment. Individuals that experience high negative affectivity have a negative outlook towards their job and themselves. Motivation among employees of Valley Winery is non existent. One of the top producing sales representatives, Bill Murphy, was receiving phone calls as late as ten thirty at night. These calls were routine and the objectives could be accomplished by email. Phone calls this late hurts morale and disposition of the sales force. The proposed mentoring program being developed by management and human resources will help remedy this problem.   Ã‚  Ã‚  Ã‚  Ã‚  Putting the new hiring criteria in effect at Valley Winery should create a reduction in employee loss. By retaining new employees and hiring the correct representative, training costs should be significantly downsized.   Ã‚  Ã‚  Ã‚  Ã‚  

Thursday, October 24, 2019

Insurance in 2020

INSURANCE 2020 – THE PATH AHEAD Introduction Insurance is a social device which help the public to transfer the risk which is integrated part of the human life. It’s been years this term called insurance generated. Now one of the most emerging and greening sector in India is insurance. The needs and preference of a customer is changing day by day. The people are more aware about the need for diverting the risk to a third party by taking insurance. They also consider insurance as an investment. Now day’s insurance companies are following certain marketing strategies. It includes understanding needs and preference of the customers by conducting marketing research and customizing the products and services to the benefit of the society. The companies follow different retail and wholesale distribution channels to reach the customers. Agents, Bancassurance, Brokers and others are some of the distribution channels which prevail in the current market. This paper talks about considering the current facts and features of insurance sector in India, what will be the insurance scenario in 2020. It also talks about upcoming marketing strategies and distribution channels in 2020. Objectives of the study †¢ Primary Objectives o Identify the major changes in the Indian insurance sector on a road to 2020 †¢ Secondary Objectives o Analyze the consumer perception of insurance how it can be tackled by the insurance companies in the upcoming future o Identify the future marketing strategies of insurance as a business in 2020 o Identify the distribution channels of insurance in 2020 and how the features are differentiated themselves from the current distribution channels Research Methodology Descriptive research method is followed in this study Change in Indian insurance industry by 2020 Indian insurance is expected to be going through a significant change of 70% as per the survey conducted by IBM insurance 2020 survey 2006. Among the 30 samples taken 30 % states that insurance industry will be having an incremental change of 30 % by the end of 2020. [pic] There are some reasons for saying that the Indian insurance industry will be facing significant change. The customers are living in era of latest technology and advanced services in which customers are treated not as king, he is the god which decides the existence of a company whether it deal with products or services. If the business fails to please their lord i. e. customers then there won’t be any existence for that particular business. Because of the latest technologies strengthening the demand and bargaining power of customers the customers are active and well informed about the services that they can get from the insurance companies. Another reason would be the increasing competition among the players in Indian insurance sector. Each company is trying to get a competitive edge over other companies by giving most importance to the word ‘Innovation’. The companies can’t run their business without innovation because all the businesses believe in ‘survival of the fittest’. And more over the customer wants the companies should predict their needs and preference well in advance and to serve them. Last but not the least people consider insurance as a strategic investment in life or we can put forward like people consider insurance as life time planning which starts from cradle to graveyard. Now it’s time for us to think about the upcoming trend of Indian insurance industry in the coming years. The ultimate users of the insurance services are people. When companies target people for selling or marketing of insurance they will think only think about their demographic characters like age, income, family etc. But classifying the customers as per their demographic characters and social characters may not help the insurance companies to survive for future. Insurance companies need to further classify the people into innovators and non innovators. Innovators are the people who buy the product or service as and when it reaches the market. Innovators are early buyers of the product. Non innovators are late buyers. Now the point to be discussed is what is the relevance of innovators in a service sector like insurance and why people should buy insurance policies or plans as and when it reaches the market. As I mentioned earlier insurance policies are good stage for strategic investments. When a share or a fund of a blue chip companies are announced in the market, people would be demanding those funds even if it is not there in market. In future most of the companies would be designing their insurance plans as a strategic investment plus risk covering plan, so such companies would targeting high growth funds or shares. So when an insurance company launch their new insurance products in market they will be targeting innovators. Another reason for targeting innovators is that the people who are in the category of non innovators would seek the advices from innovators during purchase of services since innovators are opinion leaders in the market. Another important trend that, the insurance sector would be mostly adopted the concept of virtual office in terms of physical presence. The technology is so updated, now it self a consumer can avail the facilities of insurance companies through the use of internet. Another reason for this trend would be increasing the number of insurance companies in the market. This also will pressure the companies to fully adopt the concept of virtual insurance. The insurance companies in 2020 will be targeting a modern value chain which is the collection of process and services that are linked together to create, develop, sell, deliver, process and service an insurance policy over the life of the contract. It would be hard to find the paper documents or trend of e-documents are no longer away from the insurance market in 2020. The insurance products that is going to capture the markets would be rather known as insurance packages which would cover all the risk of a human being in his life time i. e. once if he is taken an insurance plan it will cover all the risk till his death and investment requirements. The insurance products in 2020 would be concentrating on the concept of ‘Just in Time insurance’ as a person moves through set of spaces. Each stage of his life would be consisting different set of spaces. The new insurance package policies would be concentrating this set of spaces in human life. Insurance sector is one of the mostly regulated sectors in India. The economic crisis which struck globally will be forcing the IRDA and other regulatory bodies to come out with more rules and regulations especially in the foreign institutional investments and foreign direct investment. In 2020 the barriers in availing facilities of insurance with in the boundaries of the respected country, would be started to change since the insurance sector itself demands the emergence of a globally accepted standard of global insurance bodies. Another important thing that we can see sometimes before 2020 would the concept of ‘risk – to – opportunity’. Climate change is big question mark for the insurers. We can see a trend of insurer responds to climate change also. Considering the carbon trade and green business development project the insurance sector can’t close its eyes towards the natural environment. The insurance packages that are going to be prevailing in the insurance market will have certain features. It would a socially enabled product which would be designed to market through online word of mouth. It would also concentrate the concept of a mass produced, multi – component pre-packaged one click solutions which will find a gap in the market place. These packages would be allowing plan conversion exchange which would allow people to convert defined contribution assets into income for life through making into annuities. Another important point to be discussed is that considering the latest technologies that is going to be adopted by the insurance scenario in 2020, most of the insurance companies will have direct tie up with software companies for the use of Information Technology [pic] Marketing strategies of Indian insurance sector in 2020 Indian insurance marketing strategies mainly concentrating on the concept of CRM i. e. customer relationship management. Since insurance sector concentrating on the societal and demographic features of customers, future CRM would be all about creating online communities of customers via emerging social media, such as face book, twitter and similar websites. The companies will take initiative to create such communities which will increase the customer handling efficiency of the company. Another strategy that the insurance companies started to adopt is 80:20 principles. It means retaining the customer who contributes to the majority of the business and serving him as the primary customer. Concentrating in the existing customers will help to get business through cross selling and reduction of the acquisition cost of a new customer. Another trend in the marketing strategies adopted by insurance would be based on the concept of ‘being with the customer’. For example if there is an insurance policy for a corporate is being taken, while providing statements and newsletters the insurer include success stories and pictures that people in that particular corporate works. The future climate of insurance will be forced to emerge new distribution marketing strategies. We can see different strategies for each distribution channels. Banks have long established programs and accounts for ‘young savers’, and have made available courses on handling credit for teenagers. In the future insurance arena, a similar program might involve school presentations on the mechanics of risk, or, rather than the typical sponsorships of sports, taking a logical next step with youth organizations. These kinds of steps include activities such as insurance sponsored clubs which will tune the kids mainly in the concepts of risk management and practising safety in their environment where they interact most. One another strategy would be different approaches to people who have different demographic characteristics. For example, old aged customers can be approached with statistical details and promotional campaigns while the younger group prefers the carries like orkut, face book and other online communication devices. The trend show like more and more consumers are increasingly disenchanted with mass marketing and seek individual attention as well as customization of their customer interactions. The next generation of risk management is one where the focus is not on simply mechanizing the processing of data, but on modelling and automating the smart processing of risk information. The upcoming insurance industry is going to take advantage of social technologies in two ways, like first would be empowering the agents to take advantage of social media as their CRM systems. It is the best way to reach the customers with common interests, while the other is connecting with people engaged in similar occupation. Second would be the extreme widening of products and services. Innovative thinking needs to be built in existing products around their social ability and connectivity. The life insurance business has innovated in less obvious ways by combining coverage’s and adding flexibility to standard coverage’s. Life companies need to attack the oft-quoted maxim that ‘life insurance is sold, not bought’ and overcome the negative perceptions that plague this industry. Change in the distribution channel and their features Insurance companies have got different distribution to reach the customers. It would include agents, brokers and Bancassurance. The upcoming trend in case of distribution channel has to be compared with each of these levels. An insurance agent is a person who identifies himself and the insurance company of whom he is an insurance agent. Earlier insurance companies were used this particular distribution channel, they only require people to sell their products. Now days the trend of insurance companies is selecting the agents changed because these are the persons who represent the company in front of the public. By 2020 the concept of virtual office would come into play. And any person named as agent, he would be having information not only about the product, he will be an expert to advise the customer about how to do the strategic investment and investment options etc. The insurance marketplace is undergoing a transformation that may eventually lead to significant changes in how consumers purchase insurance products. A variety of distribution channels are currently used in this market place and some insurers utilize a combination of distribution channels. In terms of Bancassurance when the insurance products are sold as a third party products along with banking products. In the new era it would be in a relation with the banking product which functions jointly. Another important trend that you can expect from the market would the concept of ‘hyper –efficient direct distribution model’. This concept would be working the idea of super low cost of solution. Now days when the insurance companies are using the multiple distribution channels to reach the customers, the cost associated with this purpose is increasing. Because of the non-traditional competitors have much lower distribution costs than insurers, insurers face intense pressure to operate more efficiently. Distribution costs are one of the largest expense items associated with life and annuity policies. In the upcoming years we can see the trend of an emerging hyper – efficient distribution model which works on low cost. Change in consumer perception of insurance Indian consumers have big influence of emotions and rationality in their buying behaviour. There are certain factors which are going to be very crucial in 2020 in terms of buying behaviour of insurance. They are: †¢ Company loyalty †¢ Services quality †¢ Ease of procedures †¢ Satisfaction level †¢ Company Image †¢ Company Client Relationship Initially the Indian insurance sector was in the major hands of LIC. The people didn’t have a second name or second thought to think from where they should take the insurance plan or policy. Now the trend is changing. The main proof of the change is that the monopoly entertained by LIC was started to capture shares by other private companies. The private players are also able to provide the services and they are also able to generate the trust as LIC could create among the mindset of people. The private companies pitch the products in such a way that it was more acceptable to the customers. For example, One of the promotional objectives designed was to create a feel good factor around retirement and change customers’ perception of retirement as a mark of old age and loss of financial independence. Today’s behavioural patterns are different rather than the traditional ones, but still predictable. The concept of predictive analytics as applied to consumer behaviour follows reaction to control triggers (like marketing campaigns) and thus allows companies to manage their customer portfolio into an optimal spread on a value/ loyalty matrix. The consumers are expecting an insurance product/service like a direct sale of mid market lifetime income solution with a lower premium which also helps to invest for future purpose. Challenges of Indian Insurance Sector on a road towards 2020 One of the big challenges that are going to be faced by 2020 would be estimating local market potential for insurance products is continual challenge for the insurance industry. One solution for this big challenge would the concept of ‘insurance CLOUT’. Based on the actual purchase patterns, the idea like insurance CLOUT provides the most reliable local estimates for all type of insurance products and includes key detailed information like household counts, policy deductibles and premiums. Insurance CLOUT includes both current year estimates and five year projections for all of the data provided. Insurance CLOUT helps you to focus the marketing strategies of a business. It’s an indispensable tool for numerous marketing applications like †¢ Allocating market dollars against market potential †¢ Estimating potential for specific products within local markets †¢ Identifying high opportunity areas †¢ Measuring agency performance relative to market potential This idea also helps to assess the key market potential data for insurance companies. Conclusion The study was trying to give some information about the picture of insurance preferences and features in 2020. It identifies the factors that are going to be very crucial in terms of consumer buying behaviour with respect to insurance. The marketing strategies and distribution channels are also tried to portray considering the big limitation of the uncertainty of future. The study states that as time passes insurance sector in India will be undergoing through changes which can be giving a new face for the Indian insurance sector in 2020. As the insurance industry will be facing difficulties along with the rest of its financial services brethren to operate in the current global recession, it must consider the actual value of true innovation. No insurance business can’t exist in business in the upcoming future with out innovation. Innovation can come in the form of modified process, new business models, distribution channels and simple organizational changes. Innovation with out knowing the consumer buying behaviour would be fruitful. Creating innovative products like energy savings insurance, innovative renewable energy project insurance products, green building insurance and insurance for developing world (Micro insurance) would help the insurance companies to smoothen their road towards 2020. In the upcoming trend of insurance will be focusing on ‘pay as you live and active risk management in which active risk management means where proactive actions are taken to reduce total impact of risk. REFERENCES: †¢ Insurance 2020 – Insurance beyond old models by IBM †¢ Ceres report ‘From risk to opportunity’ 2008 by Evan mills [pic]

Tuesday, October 22, 2019

Pilipinong Pamilya Pantawid Program Essay

These are the main findings of the recently completed assessment of the CCT – the first in a series of evaluations being done on the program – presented today by the World Bank in a public forum held in Quezon City led by the Department of Social Welfare and Development (DSWD) with support from AusAID and the ADB Titled â€Å"Philippines Conditional Cash Transfer Program, Impact Evaluation 2012† the report confirms that children of Pantawid Pamilya beneficiaries are enrolling and attending schools, with improved health due to regular visits to health stations, and pregnant mothers getting proper care. I am pleased to know that the children of poor families are indeed enjoying better and improving access to education and better health services through Pantawid Pamilya,†Ã‚  said DSWD Secretary Corazon Juliano-Soliman. Along with other government programs aimed to reduce poverty, Pantawid Pamilya ensures that no one gets left behind in terms achieving holistic and inclusive growth†Among the Pantawid barangays (villages) surveyed, the report lists the following findings comparing enrolment and school attendance between beneficiaries and non-beneficiaries: * In Pantawid barangays, 76 percent of preschoolers are enrolled in daycare, compared to 65 percent in non-Pantawid barangays; * Among school children at age 6-11, 98 percent of children in Pantawid barangays are enrolled in school, as against 93 percent in non-Pantawid barangays; and * Children in Pantawid barangays from age 6-14 also have higher school attendance (95-96 percent) as compared to children in non-Pantawid barangays (91 percent). The assessment is based on a the analysis of poor 1,418 households eligible for the Pantawid program from a survey covering 3,742 households in the provinces of Lanao del Norte, Mountain Province, Negros Occidental, and Occidental Mindoro. (Currently, there are more than 3 million poor families with more than 6 million children benefitting from the program). Pantawid Pamilya provides cash grants to poor households to encourage them to keep their children of age 0-14 in school and have regular health checks. Also, pregnant mothers are required to avail of proper medical care and their deliveries attended to by health professionals. Mothers are also required to attend family development sessions where they discuss topics on parenting and accessing social services in the community. In health, the study found that: * 64 percent of pregnant mothers in Pantawid barangays had antenatal care as against 54 percent in non-Pantawid barangays; * 85 percent of children in Pantawid barangays age 6-14 have undergone deworming as against 80 percent in non-Pantawid barangays; * 81 percent of children in Pantawid barangays at age 0-5 have taken Vitamin A supplements as against 75 percent in non-Pantawid barangays. According to Ms. Junko Onishi, World Bank’s social protection specialist, Pantawid Pamilya has contributed to reduction in the severe stunting among poor children 6-36 months of age in Pantawid barangays. Stunting in the first two years of life is known to cause irreversible damage later in life including lower educational attainment, reduced adult income, and decreased offspring birth weight. Therefore, reduction in severe stunting among poor children at this age will have long-term benefits, Ms. Onishi said. â€Å"This reduction in severe stunting indicates that CCT is enabling families to better care for their children,† said Ms. Onishi, who presented the highlights of the impact evaluation during the forum. â€Å"More parents in Pantawid barangays (villages) are feeding their children with high-protein food including eggs and fish, leading to improved nutritional status.   Ã¢â‚¬Å"Poor households under the program spend 38 percent more in education per capita   and 34 percent more on medical expenses per capita than their non-Pantawid counterparts. This trend indicates a shift in the spending pattern among CCT beneficiaries towards greater investments in health and educ ation of their children,†Ã‚  said Mr. Nazmul Chaudhury, World Bank’s country sector coordinator for human development, and one of the authors of the report. The study recommends that coordination among health service providers needs to be strengthened to ensure that beneficiary mothers and children get the services they require and to ensure continuity of care. Also, the study suggests exploring the possibility of extending coverage from the current five years, increasing the grant amount for older children, and improving school facilities and services. The impact evaluation study was funded by the World Bank and the Australian Agency for International Development (AusAID). The study was led by the World Bank and   the Department of Social Welfare and Development (DSWD),   in coordination with AusAID and the Asian Development Bank (ADB). The study aims to present empirical evidence on the key outcomes of Pantawid Pamilya. source:   Joint Press Release by World Bank and the Department of Social Welfare and Development (2013/03/1)| DSWD says No to Epal and Yes to Empowering Pantawid Pamilya Beneficiaries| | | Written by Pantawid Pamilya Social Marketing Unit   Ã‚  | Thursday, 31 January 2013 08:44| ShareThisNo more threats. No more epal. These are the main thrusts of Bawal Ang Epal Dito Campaign of the Department of Social Welfare and Development (DSWD) to be launched from January to May 2013 to protect the Pantawid Pamilyang Pilipino Program, from undue politicking and interventions that may affect the program’s integrity. Bawal Ang Epal Dito confronts the issues of external pressures and eliminates the misconception of the beneficiaries about the control of politicians or parties over Pantawid Pamilya.