Benjamin D. Powell

Benjamin D. Powell makes an argument in his paper â€Å"Exploring Mirror Neurons: Rethinking Performance and Communicative Processes† that will make every self-avowed video game dork ecstatic. The concept that by observing an action repeatedly our mirror neurons learn to perform the action will appeal to thousands or even millions who spend their days in front of a television or video screen rather than out experiencing life. Powell adds the caveat that without practicing the action, the body will not be able to perform it with the skill of a trained athlete, but argues that the presence of mirror neurons explains why he was not more injured when hit by a car. The paper claims that the presence of mirror neurons may indicate that more study is needed regarding how our bodies develop skills and what effect activities like playing video games have on our neurological development. At worst, Powell’s theory is an interesting pipe dream. At best, it is hope for the people who spend too much time playing â€Å"World of Warcraft†. Unfortunately, the reality is it seems to be something of a pipe dream. It is much more likely that he simply got lucky when the car hit him and instinctively tucked and rolled. And, the car, which he described as barreling toward him, probably was not moving with the speed he believed it to be.   Writing for the British Journal for the Philosophy of Science, Kathleen Wilkes seems to echo parts of Powell’s basic thesis. (Wilkes 111). She argues that the possibility exists that people are capable of learning simply through observation, but there is no hard science to defend either her statement or Powell’s. The reality is that this is some odd combination of philosophy and science, with people speculating on something that science has yet to be able to measure or prove. In the end, while the philosophy of a mind-body link so deep that the mind can control the body’s actions after merely observing an action seems plausible there is no science to back it up. Powell’s evidence is merely a corollary, coincidental and not direct proof of a tie. To actually prove Powell’s theory would be difficult and complicated. One would have to prove that there was simply no other way, short of mirror neurons that the test subject could have learned to complete a specific action. And, the researcher would have to be able to determine how much of the action and the response to it is based on intellectual knowledge versus muscle knowledge. In short, the researcher would have to prove that simply watching someone swing a bat repeatedly would equate to the ability to do it and that the ability is more than the intellectual knowledge of where to place one’s hands on the bat. He would have to prove that Powell’s escape from injury was more related to his ability to tuck and roll than his knowledge that tuck and roll was the right way to minimize the force of impact of an oncoming car. Ultimately, Powell’s problem becomes in determining what actions are effective because of the mental processes telling us how to do them and which ones are effective because of the muscle knowledge of when to flex or release. Even making the differentiation there could take years. WORKS CITED Powell, Benjamin D. â€Å"Exploring Mirror Neurons: Rethinking Performance and Communicative Processes.† Wilkes, Kathleen V. â€Å"Brain States†Ã‚   The British Journal for the Philosophy of Science, Vol. 31, No.2. June, 1980. pp. 111-129.   

Color Marking Assignment

Motherhood: Ma, since Steinbeck first described her is a goddess woman in the book. In this chapter, the motherhood is displayed by Ma. As she has to say good bye to Tom, the child for whom she has shown the most affection, she is sorrowful. â€Å"I wanna touch ya again, Tom. †¦ I wanna remember, even if it’s on’y my fingers that remember. You got to go away, Tom. † And she also gave him 7 dollars. 7 dollars, at that time in such a terrible environment, 7 dollars is huge number, she gave to Tom, because she‘s worry about him. You take the money†¦You got no right to cause me pain†. John Steinbeck is using this motherhood to praise the great love mother has been giving to their children. Even in the worst condition, even in the bad situation, they still willing to love their children and love them more than love anyone else. Tom’s thinking: Maybe reader has sensed the change in Tom’s character. His soul and spirit is growing sinc e the capture of Casy. Here, Steinbeck writes out the thought of Tom during that period to inform reader what Tom is thinking is all about Casy. He is thinking about all what Casy said. â€Å"But now I been thinkin’ what he said, an’ I can remember –all of it. † He also realize what Casy said that â€Å"a fella ain’t got a soul of his own, but on’y a piece of a big one. † Tom’s thinking also helps to foreshadowing the decision Tom made which is to continue what Casy had done later in the chapter. Tom’s decision: Here, in the cave, Tom told Ma his decision. He plans to continue and hopefully finished the work that Casy started. Tom wants to organize a strike to bring out the fair wage. John Steinbeck use Tom’s decision finally complete his character portraying for Tom since Tom is at his closest point to being self actualized. And at this point Steinbeck also helps reader to find out how a soul has been growing during the harsh time and suggests that Tom is one of the million people who has gone through these and realized the â€Å"a fella ain’t got a soul of his own, but on’y a piece of a big soul†. Description: Steinbeck uses a lot detail description in this chapter. As Ma setting out ot find Tom â€Å"The movement stopped, and after a long moment †¦Ã¢â‚¬ ¦ that it might have been a stump. Here, Steinbeck helps reader understand that after Tom killed two cops and Casy’s death, Tom is living like a rabbit. Tom is hiding and staying along so that he can think and decide to continue what Casy had started. Then Steinbeck also use detail description â€Å" Her reaching hand found his head in the blackness and her fingers moved down to his nose, and then over his left cheek. † This shows reader the love Ma has giving to Tom, the greatness of mothers’ love which Steinbeck intend to express.

The Japanese Internment Essay Example | Topics and Well Written Essays - 1250 words

The Japanese Internment - Essay Example The answers of these questions come to us through the story of Japanese American Internment. These people were imprisoned and interned for no strong reason. They were sent to the relocation camp far away from their homes. The disgraceful incident of internment started soon after the Pearl Harbor attack. On December 7, 1941 Imperial Japanese Navy attacked on Pearl Harbor, Hawaii. Suspicion prevailed all over among the outraged American people and their attitude towards the Japanese- Americans suddenly changed. On the background of the bombing on Pearl Harbor, the Presidential proclamations were signed which included 2525 (Japanese), 2526 (German), and 2527 (Italian). The Raciest Hysteria led to the forced evacuation and internment of the Japanese- Americans. Approximately 120,000 Japanese Americans were imprisoned and were sent to the war relocation centers. Among some young men of Japanese heritages became some of the most trustworthy soldiers. In 1990, Japanese American survivors of the camps started receiving redress checks of $ 20,000 along with a letter of apology from President George Bush. The Second World War had just started. There was a historic incident happened during this time. It was 19th February 1942. On the basis of the Pearl Harbor attack, Franklin Roosevelt signed Executive Order 9066. According to the order 120,000 Japanese- Americans were rounded up to one of the 10 internment camps which were called â€Å"relocation centers.† The American government took such initiatives against the Japanese- Americans due to the fear that those people would otherwise support to the Japanese in Second World War. Thus more than 2/3 of the Japanese in US were interned who were the citizens of United States. They were never disloyal to America yet they were evacuated for no strong reason. The blatant euphemism was that they were humiliated by calling them ‘non-aliens.’ The misery of the people can be

Advanced Organizational Behavior Essay Example | Topics and Well Written Essays - 2000 words

Advanced Organizational Behavior - Essay Example Most recently and after thorough research, various findings were noted and this trend of treating human labor as machines gradually started changing. This has led to contemporary approaches the recognize and appreciate the human labor by taking into consideration their needs and emotions as paramount elements that need to be managed effectively (Cooper & Barling, 2008, p. 127). According to French (2011, p. 143), the contemporary approaches are concerned with the development and growth of people towards achievement of higher levels of creativity, competency and fulfillment since these people are the principal resource of any organization. This approach helps the employees to become better regarding work terms and responsible as it tries to create a conducive environment in which people can fully contribute in order to improve their abilities. People in an organization have diverse motivation and needs that are of high concern. There is the innate potential of people to be creative, predictive, independent and capable of effectively contributing positively to the objectives and functions of the organization. The management has realized that businesses are social systems that have both emotional and psychological factors have a significant influence on productivity. Best performance can only be improved through good human relations and proper organizational behavior. Managers nowadays consult employees in matters that affect the staff. The staff is also allowed to take part in various decision-making processes in the organization through their representatives (Knights & Willmont, 2007, p. 51). Various staff unions have been allowed in organizations and they act as the main voice for the staff. It is fully responsible for negotiating on behalf of the staff. Grievances by the staff are also channeled through these staff unions. This brings about harmonization at the work and best systems are put in place to ensure best relations between the staff and the managers (Martin& Fellenz, 2010, p. 147). Â  

Frankfurt School Essay Example | Topics and Well Written Essays - 750 words

Frankfurt School - Essay Example This Public Institution began in 1923, where Marxism was the main theory as part of the Institute's proceedings. It was the first Institute of Research that followed Marxism. This change took place so as to do away with the Christian Religion and ideologies that involved the lives of the European people and other relevant matters. The members of the Frankfurt School developed a theory that was meant to change the entire system by which people of that century were living. The Frankfurt School was in full gear to wipe out Christianity completely not only from the lives of all students but even in the social circle and within families. Their main aim was to create a turning point in society where philosophical theory (metaphysics) did not fit into their concept and their outlook to life was a material world that depended on logical reasoning. This was an era of modernization with the synopsis of Marxism. Max Horkheimer took charge as Director of this institute in the year 1930. Horkheimer laid stress on the connection between Social philosophy and science. This institute developed a social theory that involved different branches of learning that could serve as an implementing tool to radically reform social conditions. This theory involved a combination of sociology, psychology, cultural and political economy along with the social and philosophical theory termed as "synthesis of social and philosophical theory". It also supported women's rights, racial equality, different kinds of post-colonial criticism. One of the series of studies that was vivid at the Institute of Social Research were the theories that involved exclusive trading privilege in the capital markets along with the advancement and functions of technology. It also involved trade between large dominant Corporate in the capital markets. In this study it also showed the deterioration of both "democracy" and "the identity of an individual". It also revealed the part played by the various cultures in the trading societies and the communication involved which gave rise to modernization in these various societies. It connected theories that were to take their place in the heart of social reformation making it last for many decades to come. The individuals involved in such thinking belonged to different branches of learning with a high level of intelligence. This intellectual thinking enabled them to keep the fundamentals of social theory always responsive and active even during a difficult historical era. During these tough situations these

Stratgy Essay Example | Topics and Well Written Essays - 1500 words

Stratgy - Essay Example The available work force and resources is the most essential asset to attain the set objectives (Trapczynski & Thomas, 91). Therefore, the company focus on preserving the health and safety of employees remains a crucial part in every phase of the business operations. The aim of the memo is to provide a strategy plan for the company to the CEO for one and ten years’ time. The company has been operational for a few years and has managed to attain tremendous progress. Establishing a memo to the CEO,that highlight the company’s strategic plan for one and ten years’ time will provide an essential blue print forplanning future global operations. Colorado Company’s international goal: To reach a diverse market segment and become a dominant leader in the fast growing Applied Control Equipment industry Strategy 1:Colorado Company to attain the set global plan of gaining a diverse market segment will require more resource allocation within china and other targeted a reas abroad. In one year, the company will require to open up new branches locally in China to attain its set goals. The business environment in China is appealing to investors due to existing and emerging opportunities. The company opening up new branches will provide a platform for increasing returns. The company to attain maximum possible returns would need to employ business strategies that align to the prevailing competitive forces. This will ensure Colorado Company optimizes on the existing opportunities to attain its potential. The company strengthening its position locally in the Chinese market would be an added advantage of expanding globally. The Chinese business environment is diverse thus capturing the wide market segment will guarantee maximum exploitation of the existing opportunities. Different business environments have varying traditions and culture. The company carrying out studies regarding the safety practices, as well as, priorities in the different markets will be pivotal in designing effective business practices. China offers a diverse market hence easier to emulateothermarkets abroad. In one year, the company needs to have penetrated the local market through business practices that align to the prevailing conditions. The company capturing a significant market share would guarantee more revenue for expansion purpose. The company has a culture of creating products that relate to the various business environments. This is an advantage for a company operating on a global level, as it can attract customers from different heritages that still recognize their roots (Trapczynski & Thomas, 99). In ten years’ time, the company will have established itself in both local and global market for it would have understood the diverse cultures. Objective 1: To attain a significant market share both locally and globally. Understanding the different business cultures in the emerging market will be crucial in employing relevant business practices tha t would enhance the potential of the company. In one year, the company needs to strengthen its position locally to enhance its potential. This will provide an appropriate platform for expanding globally over the next ten years period to increase its market share. Strategy 2: Colorado Company creating competitive advantage features through employing an innovative strategy to enhance product quality and customer satisfaction. The success of the company is based on a production

Journal Essay Example | Topics and Well Written Essays - 250 words - 41

Journal - Essay Example Indeed, how he hated people and their foolishness. As the man entered his home, he thought about the burden of being a teacher, having to deal with ignorance and human incompetency as a regular daily obligation. He shuddered with contempt at the very idea. As he chewed these thoughts in his mind, he turned toward the television and clicked it to the local news. Glancing at the clock, he noticed that it was approaching 11am; almost time for lunch. For a moment, he watched as the excited woman dressed in a blue uniform smiled profusely and waved frantically at the camera, clearly excited to be a part of her newsworthy adventure. Jealous of her happiness, he clicked off the television. As the man reached into the mayonnaise jar to coat his favorite sandwich concoction, he formulated his last thought on Earth as his ceiling suddenly exploded onto his head, crushing the life out of him forever. In 30 minutes, as rescue workers began a frantic search for survivors, neighbors grimaced as a hunk of steel painted with one remark was resurrected from the debris. As if a prophetic vision of human justice, the word â€Å"Challenger† was quite

Hinduism and Buddhism Essay Example | Topics and Well Written Essays - 750 words

Hinduism and Buddhism - Essay Example For Krishna, you can escape the rebirth in one of two ways, either by jnana-yoga or bhakti-yoga. This paper provides a vivid discussion and a comparison between the different concepts that are practiced in Hinduism and Buddhism. As already pointed out, in Hinduism, the powerful Krishna (Thompson 39 Ch.7, Verse 8), states that one can escape the rebirth in one of two ways, either the jnana-yoga or bhakti-yoga. The jnana-yoga basically denotes the path of self mastery and knowledge of Brahman and Atman as well as the realization of the unity of these two. Jnana-yoga uses the exercise and intellect as a way of understanding the true Self as well as being aware of the eternal Self, which is God (Thompson 29 Ch.5, Verse 27). Therefore, jnana-yoga helps n the probing of the nature of the Self by asking the question, "Who am I?† It is worth noting that jnana-yoga is not merely an intellectual exercise, but may involve intellect in realizing that God’s nature must be pure Beingness, but to know the Self, one must Be the Self or exercise what is referred to as being patron of oneself (Carter and Mahinda 31 Ch.XII, Verse 160). Jnana-yoga is mainly used when one intends to experience God’s omnipres ence and it also mediates through a focus on the question â€Å"Who am I?† On the other hand, bhakti yoga refers to the spiritual path and practice that is practiced by those that subscribe to Hinduism faith that focuses on building love and devotion for God (Thompson 45, Ch.2, Verse 9).

The moral diversity argument for nonobjectivism Essay

The moral diversity argument for nonobjectivism - Essay Example Different cultures and religions look at moral principles differently, based on their culture’s understanding of them. With this, it can be assumed that moral diversity is the differences in interpretation of morality. It does not mean though that these diverse principles would always be in contrast with each other. Some may actually be in support with each other. A particular moral diversity argument is the argument for non-objectivism, wherein non-objectivists claim that moral claims are relative and dependent on the beliefs of an individual or group. This is in contrast to a moral objectivist’s point of view wherein the truth and morality is independent of anyone’s judgment. Non-objectivism emphasizes the diversity between the belief systems of different cultures. Non-objectivism views moral diversity as real and possible since individuals and groups view moral principles and objectives differently. One truth can be the others false, depending on what culture is talking about it. Non-objectivism is concerned about particular views and dispositions of individuals rather than an absolute truth. It sees truth and morals as relative and subjective. Thus, moral diversity is in sync with the principles of non-objectivism. In contrast, objectivism views truth as absolute. There is only one truth, much like one teaching, similar as how Christianity’s Jesus teaches, that there is only One God. Moral objectivists see moral principles as independent of an individual or group’s interpretation of it. The truth and moral principles are right or wrong regardless of the belief of the person.

International Accounting and Finance Essay Example | Topics and Well Written Essays - 2500 words

International Accounting and Finance - Essay Example Notwithstanding the concerns and prejudices, there has been noted an increasing trend towards adoption of international accounting standards as a preferred financial reporting framework. Among the concerns stated by the stakeholders to adopting international accounting standards, many are related to the impact of adopting them on capital markets operations and efficiency and on the users of financial statements. The International Financial Reporting Standards are different from the national standards developed by countries for financial reporting within their respective jurisdictions. These differences result in significant shifts in their financial reporting practices for business entities, when they decide on their own or due to mandatory requirements to adopt International Financial Reporting Standards as their financial reporting framework. Due to the differences in the respective requirements of different financial reporting frameworks, there are varying impacts of each on capit al markets and users of financial information. ... Impact of Adopting International Accounting Standards on Capital Markets The impact of adopting international accounting standards as a financial reporting framework can be determined by understanding the impact of adopting the international accounting standards on the efficiency of capital markets. Keeping in view the significant difference in reporting requirements under International Financial Reporting Standards and other national accounting standards, such as U.S. GAAP or other accounting frameworks, a general expectation can be developed that with the adopting of International Financial Reporting Standards, there will be a significant impact on the efficiency of capital markets. Researchers have investigated whether the impact caused by adopting International Financial Reporting Standards on efficiency in capital markets is positive or negative. Some researchers have noted that the impact of adoption of International Financial Reporting Standards on market can be measured throu gh variations in the market liquidity and the cost of capital for business entities. In this regard, Daske et al (2008) have noted that with the adoption of international accounting standards, market liquidity is influenced positively, that is it increases. Similarly, another major finding of their research work is that by adopting international accounting standards the cost of capital for firms are decreased, whereas the value of their equity increases (Daske et al., 2008). Daske et al. (2011) have also noted that those firms which are committed to provide highly transparent financial reporting and thus adopt International Financial Reporting Standards as their financial reporting framework, such firms experience a significant improvement in their respective

Psychological Influence of Fashion Essay Example for Free

Psychological Influence of Fashion Essay When one thinks of the identity crisis that plagues people, one is able to discern the connection between fashion and its lure on people. Conformity comes in many forms and affects many aspects of adolescents’ lives. Do adolescents take up a certain way of dressing because everyone else is dressing up that way? Do they let their hair grow long one year and cut it short the next because of fashion? Conformity occurs when individuals adopt the attitudes or behavior of others because of real or imagined pressure from them. Indeed, the pressure to conform to peers becomes very strong during the adolescent years (Santrock, John 1998. p. 211). More than any other outward manifestation of a person’s personality, the clothes has a language all its own. It is a nonverbal system of communication that symbolizes the beliefs and thinking of an individual. In an encounter, before people even speak to one another, their clothing makes a statement that expresses their age, sex, class, occupation and personality (Flynn, Patricia). Clothing has a language all its own. It can range from conventional and traditional to the outrageous and eccentric styles. Dress can identify its wearer with a social group. For example, jeans never go out of style with teens. The difference just lies in the style, cost and labels that identify them as designer. Wearing jeans may symbolize that the individuals are members of the same group (Flynn, Patricia). For example during the 1950’s, teenage clothing styles grew amidst the economic prosperity after World War II. The consumer market targeted those who were pampered and had money to spend on clothes. At the start, the adult designers were the trendsetters in terms of fashion sense. But the teens began to assert their own individuality and sported only the styles they most prefer. To these youth, this was a form of their self-expression (Flynn, Patricia). Image builders give a great deal of thought to the types of images that would have the strongest appeal to the greatest number of people. Merchandisers reason that they could build into their products the same traits that people recognize in themselves. Studies of narcissism indicate that nothing appeals more to people than themselves; so why not help people buy a projection of themselves? That way, the images would pre-select their audiences, select out of a consuming public people with personalities having an affinity for the image. By building in traits known to be widely dispersed among the consuming public the image builders reason that they could spark love affairs by the millions. The sale of self-images expedited the movement of hundreds of millions of dollars’ worth of clothing, accessories and other beauty products. Thus, the image builders prove again and again that American consumers are becoming self-image buyers. Conclusion Young people, having identified with many models, have incorporated many different characteristics. Now they must integrate, synthesize, and reorganize these, dropping some characteristics and strengthening others. A new, unique and coherent identity emerges, one in which, â€Å"the whole has a different quality than the sum of its parts† (Erikson, 1959, p. 90). Fashion and style exerts a different kind of psychological influence of people, especially adolescents since they are pampered by society. A cast consumer market is bombarded with the advantages of being â€Å"in† a group by adapting a distinctive sense of fashion. It is, therefore, important that people understand the psychological influences underlying this issue. People must be critical in recognizing that merchandisers of many different products connected with fashion probes people’s subsurface desires, needs and drives to find their points of vulnerability. (Santrock, John 1998. p. 211). Among the subsurface motivating factors found on the emotional profile of most of us are the drives to conformity, need for oral stimulation and yearning for security. People must be critical in understanding that once these points of vulnerability are isolated, the psychological hooks are fashioned and baited and placed deep in the merchandising sea for unwary prospective customers, particularly the youth. References Covey, Stephen R. Living the 7 Habits. (1999) Erikson, E. (1959). Identity: Youth and Crisis. New York: W. W. Norton. Fashion. Nationmaster. Retrieved Feb. 21, 2007 at: http://www. nationmaster. com/encyclopedia/Fashion Flynn, P. (1985). Body Language –The Language of Contemporary Fashion. Accessed 12

The Negative Impacts Of Cruise Tourism Tourism Essay

The Negative Impacts Of Cruise Tourism Tourism Essay 1. Introduction Nowadays, cruise tourism plays an important role in the tourism industry. Cruise ships become newer, larger and more comfortable so that nearly every need of the customers can be satisfied on the high seas. Capabilities like theaters, cinemas, fitness clubs, discotheques, casinos, tennis courts and many others are common on most modern cruise ships. Moreover, that most of the named activities are already included in the price. Thereby the ships beat about all the seven oceans to the most beautiful places on earth like for instance the Caribbean. But all these glorious sounding features involve several negative environmental problems. Cruise ships contaminate the seas with tons of waste and sewage which causes decreases of biodiversity, coral reefs and of course the water quality. Mass tourism harms and destroys ecological systems like beaches and reefs. This examination is about the impacts of cruise tourism to the environment and contingencies how to make cruise tourism more sustain able. 2. Utilization of resources Cruise tourism requires an abundance of resources and produces quantities of waste. A typical Caribbean cruise ship produces about 50tons of waste, 7.5 million liter potable water, 800.000 liter wastewater and 130.000 liter oleiferous water. Approximately 75% of all produced wastewater are caused by cruise ships. Between 1993 and 1998 over 100 cases of marine pollutions were investigated in the Caribbean. The estimate number of unknown cases might exceed this number many times over because the disposal of wastewater takes place in aquatic environments where environmental pollution is permitted on payment of a fee. Furthermore the cruise industry requires a convenient super- and infrastructure at their destinations which often overwhelms the financial capability of the regions and causes a dependency to the cruise tourism. 3. General information about the impact of the cruise tourism industry The entire tourism industry has positive as well as negative impacts on the economy, the culture and the environment. Thereby the cruise industry is no exception. Being an in Niche market the cruise industrys impact is higher-than average. By establishing more than 450,000 employments with salaries of 15 billion US-Dollars in the whole and a turnover of some billion dollars above all the cruise industry in the USA has a great impact on the economy. Furthermore a big impact on the governments revenues and expenditures is notable. The revenues of local governments consist like following: Taxes paid on turnovers by cruise passenger, the crew and the cruise line Temporarily taxes on accommodations that are paid by passengers Revenues in fees paid by passengers as well as by the cruise line, including fees for calling at a port, cleaning and other expenditures on a harbor Fees for recycling and the use of water Fees for passengers, including admission charge and payments for medical provision Tax payment of companies which distribute products and services to cruise lines passengers taxes paid by enterprises Operational costs on- site Secondary or indirect tax revenues like payment of property tax by employees of the cruise lines and their families 4. Possibilities to create sustainable cruise tourism The Cruise tourism encompasses different segments and sub segments. Aspects of sustainability in the sense of ecological sustainability play in most of the sub-segments of cruise tourism a more or less important role. All indications are that the cruise industry, in its own interest, tries to eliminate these negative impacts as fast as possible. Potential Reasons, as the fact that one of the most important subareas of cruise industry, the Caribbean, cannot comply the conception of sustainable tourism in the sense of the definition of sustainability mentioned in the Bruntland Report, have to be searched on the academic and socio-cultural level. To find concrete evidence on these levels seems to be difficult. Although the cruise tourism initiate doubtless economical impulses on the destinations, the essentially effects on the long term local development remain to be unrealized. The relation between costs and benefits on the environmental level as well as on the socio- cultural level seems to be unbalanced what a disadvantage of the destinations is. A quantification of this context owes. With the undersigning of a pioneering nature protection agreement on January 15th 2008, re-experienced the 12-month collaboration of Conservation International, the tourism agency of Cozumel, and the Florida-Caribbean Cruise Association its climax. Cruise industry representatives from the government, private enterprise association and cruise ship association were part of this contract. With the undersigning of this arrangement the contractual partners originated a significant nature conservancy initiative which should help to protect the vulnerable biodiversity of the most popular cruise destination on earth Cozumel, Mexico. In the year 2006 the island employed about 1000 workers for cruise ships, which brought an estimate number of 2.6 million cruise passengers to Cozumel. During peak times up to nine cruise ships with over 10.000 tourists reach the islands harbor daily. The rapid growing of the cruise tourism industry led to a heavy burden for the environment. The agreement composes the fundament for sustainable cruise tourism which will be achieved with the following projects: The creation of more awareness for environmental problems among the cruise tourists, tour operators and within the local community Improvement of the infrastructure of the island (especially the transportation- and waste-management) Increased security for the coral reef Indemnity of the strict observance of current laws These projects were developed during a range of workshops by groups of different stakeholders. Hereby over 80 leading representatives of the cruise tourism were brought together in order to pinpoint important environmental aspects and to achieve a common accomplishment for these projects. This common planning process is worldwide the first of its kind in the cruise tourism. Therefore Cozumel is the only cruise ship destination which helps to prevent its nature and biodiversity. Leading representatives of the cruise tourism established the so-called Stewardship Working Group which is supposed to implement objectives mentioned in the environment protection agreement. Following objectives are on the agenda: Every cruise ship passenger will see a 30 second information-movie in which he will appealed to handle sustainable in order to protect the nature In a photo exhibition, nearby the landing stage, the passengers will see the unspoilt districts of the island All tour-boats on the island have their own recycling system In the next step the representatives will evolve awareness campaigns which involve not only the cruise tourists but also the tour operator and hosts. Approximately over 500.000 cruise tourists will be involved in such campaigns. 5. Particular sensitive sea area The cruise industry will be confronted with several challenges related to environmental issues in the future. These challenges relate to the activities in the oceans, especially in and around important nature protection areas. The international Maritime Organization (IMO) recognized that issue and initiated counteractions, the so called Particular Sensitive Sea Areas (PSSA). At present there exist 11 PSSAs. The effective guidelines of these areas commit all the governments of the IMO member- states to ensure that cruise lines which drive under their flag have to keep the methods of protection. The following 11 PSSAs were arranged: The Great Barrier Reef, Australia (1990) The Sabana-Camagà ¼ey Archipelago, Cuba (1996) The Malpelo Island, Colombia (2002) The Sea around the Florida Keys (2002) The Wadden Sea, Denmark, Norway, Germanys (2002) The Paracas National Reserve, Peru (2003) The western European Waters (2004) Enlargement of the existing PSSA of the Great Barrier Reef including the Torres Strait Islands (2005) The Canary Islands, Spain (2005) The Galapagos Archipelago, Ecuador (2005) The Baltic Sea, Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland and Sweden (2005) The MARPOL Convention arranges three complementary methods for the contamination management: Reduction of waste products, Recycling and disposal of waste. With the agreement of the MARPOL Convention a cruise ship can convert its waste and dispose it on its own as well as leave the waste on a harbor for disposal either by store it, burn it or recycle it. 6. Studies and scientific literature In the more recent past only a small number of studies concerning the environmental impact of the cruise industry existed. For a considerable time a wide range of articles, reports, books, campaigns and websites occurred. The most informative subscription are scientific works (Cruise Ship Tourism, 2006, CABI), which interpret the concrete impacts of the cruise industry to the environment. The most considered researches were published by Ross Dowling and Ross Klein (Cruise Ship Blues The Underside of the Cruise Industry, 2002, and Cruise Ship Squeeze The New Pirates of the Seven Seas, 2005, New Society Publishers). Furthermore, Klein also operates to websites (www.cruisejunkie.com and www.cruiseresearch.org) where the visitor can find a varies number of resources like detailed lists of diseases, cancellations, suicides, passengers who fell overboard, powertrain problems, environmental incidents, health issues and many more. Between 2002 and 2006 over one thousand facts were collected. 7. Conclusion Although the cruise tourism has a huge negative impact on the environment there are still no homogenous regulations or laws to protect the ecological system. Even if some regions established such laws, regulations and awareness campaigns there are still huge areas of freedom to act in an environmentally harmful way. Due to the magnitude of the seas the direct environmental impacts are not clearly recognizable in a short time but they cause long-term damages. The new cruise ships which are bigger than ever before and the increasing demand in this tourism branch wont help to come to grips with this problem. In terms of achieving sustainable tourism it is, therefore, a sub-sector within which socio-economic, cultural and environmental considerations need to be continually analyzed, addressed and monitored. However, decision-makers in cruise tourism destinations, particularly those outside North America, need to work closely with operators to facilitate both integrated waste management and intergenerational and intra-societal equity rather than merely accept the prospect of short-term economic gain.

India and UK Financial Insurance Industry Analysis

India and UK Financial Insurance Industry Analysis Chapter 1: Introduction The financial performance of insurance industry can be assessed by knowing either its strategies or by knowing its profitability. Knowledge of strategy will helps in examining internal and external position of a company. Comparative study of insurance sector is analysis of financial performance of any insurance company. This is directly linked with the earning potential and effectiveness of management strategies of a company. Choosing a wise insurance is very crucial because of, balance to the risks and returns. The reason for choosing Indian and UK insurance industry for the research is because of improved economical status of the country and increase in the value of insurance in the country during last several years. The UK Economy is the largest in Europe and is also ranked as the fifth worldwide as per the market exchange rates, in terms of GDP (Broadberry et al, 1992) were Indian economy is now improving and it is now booming growth in insurance companies were greatest effect of Indian economy during the last several years. This would need a grate deal of financial planning knowledge, as well as the knowledge about the current financial market thus it can compare the other to the insurance companies the analysis of different insurance companies from India and UK. Also insurance companies has to manage their investment in such a way that the principal amount should not erode, investor should get the assured returns those company has promised. This would involve a grate deal of knowledge about the portfolio management of the risk and return and comparative study of insurance industries. Comparative study of insurance is also a topic of hunger for many economists. Till date many researches has been carried out for comparative study of financial analysis in banking sector and very few research has been taken on insurance industry. The main purpose of the research is to find comparative study of insurance companies in India and UK. What characteristic will determine of insurance industry is the main thrust behind the research. Further research is carried out to know in depth relationship of various characteristics that will make up the of Indian and UK insurance industry. The main outline objectives of the research are as under; A Research Design is the framework or plan for a study which is used as a guide in collecting and analyzing the data collected. It is the blue print that is followed in completing the study. The basic objective of research cannot be attained without a proper research design. It specifies the methods and procedures for acquiring the information needed to conduct the research effectively. It is the overall operational pattern of the project that stipulates what information needs to be collected, from which sources and by what methods. Objectives of the research This research has been carried out to comparative study of insurance companies and analyzes financial performance between Indian and UK’s insurance companies. The main aims of the research are: To analyze financial performance of insurance companies in India and UK To evaluate factors that determine financial performance of insurance companies To carry out strategic financial analysis of insurance in India and UK The structure of the research paper is as follows: Chapter 2 reviews the literature on comparative study of insurance sector; Chapter 3 describes the subject matter of the research: the Indian and UK economy and insurance industries ; Chapter 4 outlines the methodology and data used in this study; Chapter 5 presents the analysis and Findings and Chapter 6 discusses the results obtained in the context of the underlying theory the findings of other empirical research; Chapter 7 concludes the research outlining the limitations of the current study and makes recommendations for further work. Chapter 2: Literature Review 2.1 Theory Insurance is, a contract in which one party agrees to compensate another party fir any losses or damages caused by risk identified in the contract in exchange for the payment of a lump sum or periodic amounts of money to the first party. In simple meaning facilitates recompense during crisis situations, insurance means promise of compensation for any potential future losses. Insurance is a form of risk management mainly used to hedge against the risk of a contingent loss. It is designed to protect the financial security of an individual, company or other entity in the case of unexpected loss. Insurance is defined as the realistic transfer of the risk of a loss, from one entity to another, in exchange for a premium. It is a contract between two parties the insurer (the insurance company) and the insured (the person or unit seeking the cover) in which the insurer agrees to pay the insured for financial losses arising out of any unforeseen events in return for a regular payment of premium. These unforeseen events are defined as risk and that is why insurance is called a risk cover. Insurance may be described as a social device to decrease or eliminate risk of loss to life and property. Under the plan of insurance, a large number of people correlate themselves by sharing risks attached to individuals. The risks which can be insured against include fire, the perils of sea, death and accidents and burglary. Any risk contingent upon these, may be insured against at a premium commensurate with the risk involved. Thus collective bearing of risk is insurance. Analyzing insurance companies is very different from analyzing corporate and thus presents unique challenges and industry specific issues. The ability of any insurance company to meet its policy obligations is the foundation of the industry. Absent the trust of policyholders in the financial integrity of any insurer and the industry as a whole, this risk transfer mechanism/industry would collapse. This truth is even more acute in the ES industry where no guaranty funds exist, except New Jersey. However, rapid growth of Insurance sector during the situation liberalization period is seen as the most significant event in financial sector hist. in view of the fact that then, lot of changes take place in the sector as it was exposed to new challenges of competitive competition. For the first time, the private and foreign players were given entry and thus the sector saw a wonderful rate of growth in its business. A well-developed insurance sector is needed for economic development for a rising economy like India as it provides long-term funds for physical and social infrastructure progress at the same time make stronger the risk taking ability. The investment supplies for India in the upcoming years are well-known. Thus, Insurance sector, to some extent, can enable investments in infrastructure development to help maintain economic growth of the country. In this backdrop, we raise two questions: what is the contribution of insurance sector growth towards economic development and financial intermediation in India and United Kingdom. Our study does not stop here as we take a step further to examine the financial and economic growth effects of Insurance sector reforms and the rate of growth of reforms. The insurance companies offer a comprehensive range of insurance plans. The most common types include: term life policies, endowment policies, joint life policies, whole life policies, loan cover term assurance policies, unit-linked insurance plans, group insurance policies, pension plans, and annuities. General insurance plans are also available to cover motor insurance, home insurance, travel insurance and health insurance. Due to the growing demand for insurance, more and more insurance companies are now emerging insurance sector all over the world. With the opening up of the economy, several international leaders in the insurance sector are trying to venture into the insurance industry. The comparative study of insurance sector, Analysis of ratios are calculated from companys balance sheet and income statement and are used to evaluate the performance of the company in a particular reporting period. Analysis of ratios can be compared to the previous years in order to assess trends or between the comparable companies across the industry in classify to get the relative performance estimation. It is very important that every ratio should have a reference point the industry (sector) average or median. The ratio analysis works better if comparing ratios not with the complete set of companies within a particular industry, but with a preferred subset of companies that share certain features, produce the similar product, and have identical macroeconomic and governmental factors affecting them. For the study of companies, operating in several industries it can be helpful to run a cross-sectional analysis to identify a group of firms, involved in the same mix of industries. In some cases a comparison to the economy averages can be meaningful, especially in successful or constricting economies. Therefore, stable margins may be a good indicator during the recession, while the industry and economy averages are declined. It is also important to that usually conclusions can not be made from reviewing one set of ratios. That creates a necessity of a complex analysis of one set of ratios against another. The classification of the objective ratio for the comparison may require a substantial amount of work and a good judgment in order to evaluate a range of achievable and acceptable values. Although the understandable simplicity, such ratios have certain limitations that often make them most useful at identify questions to be answered rather than giving answers to them. There are multiple factors affecting and limiting comparative study of insurance sector, in particular the actual comparability of the firms and different accounting policies used by them are among the most important ones. The issue of comparability may become one the critical aspects to pay attention to while performing the analysis. Various macroeconomic or legislative factors may apply to the companies in the same industry but in different countries that sometimes makes a direct comparison inappropriate. Comparisons with other companies may become even more difficult because of different accounting policies, especially outside the US. Thus different accounting methods may result in significantly different ratio values that require normalization by the analyst. 2.2 Classification of insurance sector There are mainly two types of insurance life and non-life (general) Life insurance is concerned with making provision for specific event happening to the individual, such as death whereas General Insurance(non-life) is more commonly concerned with provision for a specific event affects properly, such as fire, flood , theft, burglary etc. The major difference between Life Insurance and General Insurance is the Principal of indemnity. Indemnity means â€Å"making good the loss† i.e. for tangible goods, one can make good for the loss that has been caused due to reasons like – theft, fire or natural disaster. Here basically we can value the exact monetary value of a commodity, but in case of life insurance the principal of indemnity does not work, since we can not value in any way the value of human life. 2.3 There are five main sectors: Life Insurance Home Insurance Auto Insurance Health Insurance Disability Insurance Section 2 (11) of Insurance Act 1938 defines Life Insurance Business as follows: â€Å"Life insurance Business is the business of effecting contracts of insurance upon human life, including any contract whereby the payment of money is assured on death or the happening of any contingency dependent on human life and any contract which is subject to the payment of premium for a term dependent on human life and shall be deemed to include.† (Mukherjee and Hanif, 2007) In simple term we define life insurance as a contract in which the insurer in consideration of certain premium, either in a lump sum or by other periodical payments, agrees to pay to the assured sum of money , on the happening of specific event contingent on the human life. 2.4 Benefits of insurance industries Life insurance has long been a staple in basic estate planning. Life insurance  can provide an income tax-free death benefit* far in excess of the premiums paid. However, much of the life insurance proceeds can be wasted if the ownership and beneficiary designations are not properly structured. Superior to Any Other Saving Plan Unlike any other savings plan, a life insurance policy affords full protection against risk of death. In the event of death of a policy holder the insurance company makes available the full sum assured to the policyholder’s near and dear ones. Encourages and Forces Thrift A saving deposit can easily be withdrawn. The payment of life insurance premiums, however, is considered sacrosanct and is viewed with the same seriousness as the payment of interest on a mortgage. Thus, a life insurance policy in effect brings about compulsory savings. Easy Settlement and Protection against Creditors A life insurance policy is the only financial instrument the proceeds of which can be protected against the claims of a creditor of the assured by effecting a valid assignment of the policy. Administering the Legacy for Beneficiaries Speculative or unwise expenses can quickly cause the proceeds to be squandered. Several policies have foreseen this possibility and provide for payments over a period of years or in a combination of installments and lump sum amounts. Ready Marketability and Suitability for Quick Borrowing A life insurance policy can, after a certain time period (generally three years) ,be surrendered for a cash value. The policy is also acceptable as a security for a commercial loan, for example, a student loan. It is particularly advisable for housing loans when an acceptable LIC policy may also cause the lending institution to give loan at lower interest rates. Disability Benefits Death is not only hazard that is insured; many policies also include disability benefits. Typically, these provide for waiver of future premiums and payments of monthly installments spread over certain time period. Accidental Death Benefits Many policies can also provide for an extra sum to be paid (typically equal to the sum assured) if death occurs as a result of accident. Tax Relief Under the Indian Income Tax Act, the following tax relief is available 20% of the premium paid can be deducted from your total income tax liability. 100% of the premium paid is deductible from your total taxable income. When these benefits are factored in, it is found that most policies offer returns that are comparable or even better than other saving modes such as PPF, NSC etc. Moreover, the cost of insurance is a very negligible. The issue of comparability may become one the critical aspects to pay attention to while performing the analysis. Various macroeconomic or legislative factors may apply to the companies in the same industry but in different countries that sometimes makes a direct comparison inappropriate. Comparisons with other companies may become even more difficult because of different accounting policies, especially outside the US. Thus different accounting methods may result in significantly different ratio values that require normalization by the analyst. Seasonality may also affect the ratios if the business is a subject to seasonal fluctuations in demand, thus year-end values may not be enough representatives and should also be normalized. Most of the ratios are preferred to be within the industry averages or economy norms. For example, all turnover ratios belong to this category. However, for some ratios the extreme deviations from the industry averages may mean that the company is highly attractive for the investors. This is usually true for all ratios dealing with income or cash flows. There are different insurance companies that offer wide range of insurance options and an insurance purchaser can select as per own convenience and preference. Several insurances provide comprehensive coverage with affordable premiums. Premiums are periodical payment and different insurers offer diverse premium options. Insurance companies may be classified into two groups: Life insurance companies (which sell life insurance, annuities and pensions products) and Non-life, General, or Property/Casualty insurance companies (which sell other types of insurance). Life insurance is concerned with making provision for specific event happening to the individual, such as death whereas General Insurance(non-life) is more commonly concerned with provision for a specific event affects properly, such as fire, flood , theft, burglary etc. The major difference between Life Insurance and General Insurance is the Principal of indemnity. Indemnity means â€Å"making good the loss† i.e. for tangible goods, one can make good for the loss that has been caused due to reasons like – theft , fire or natural disaster. Here basically we can value the exact monetary value of a commodity, but in case of life insurance the principal of indemnity does not work, since we can not value in any way the value of human life. 2.5 Introduction of insurance sector India In India, the concept of insurance was never a serious thought as compared to other countries. People still are under insured, life insurance premium to gross Domestic Product (GDP) ratio is a mere 1.4% as compared to a healthier rate of 8% amongst other developing with poor state of services provided. Presently in India, the insurance sector is nationalized, services are rendered by Life Insurance Corporation of India (LIC) and General Insurance Company (GIC) along with its 4 subsidiaries .While LIC provides life insurance, GIC is concerned with non life insurance. – Motor, marine, fire, health and personal accident insurance. LIC employs people in various departments – publicity, public relation department , development department, personal department , accounts department, legal department ,investment department , inspection department, mortgages department vigilance department, foreign department, corporate planning department, building department etc. Of late, parliament’s nod for the insurance Regulatory and Development Authority (IRDA) bill has changed the whole scenario. With the passage of the bill, entry of Private Indian as well as foreign companies, a long with existing players, in the insurance sector will add variety and quality to the present insurance services. The other positive impact would be on creation of new employment opportunities. Till now employment in the insurance sector was considered akin to any government job, but now with private participation, it will assume significance importance and probably become an exciting career option. UK’s The UK Insurance sector remains a crucial contributor to the UK economy after the public, banking and manufacturing sectors. The industry accounts for approximately 10% of total UK IT expenditure, and positive growth is expected to continue for the next few years as insurance firms begin to realize the benefits to be gained from IT investment. Although the United Kingdom (UK) insurance market is now one of the five largest in the world, relatively little is known about the practices of the major firms and policy-makers which influence its operations. In particular, whilst the determinants of rating agencies’ assessments of United States (US) insurers is well documented, published studies have yet to provide comprehensive evidence about insurance company ratings in the UK. (Hardwick, P and et al, 2000) 2.6 Current scenario of insurance industry Breaking of strict monopoly of LIC was not an easy task where to an audience who spelled insurance as LIC. LIC is working for last 50n years and caved its name for itself in the Indian psyche. Insurance being long term contract, an established name means feeling of security and more importantly LIC policies come with the safety tag-the most touted government guarantee. To enter private insurers with an altogether new agency force, all ready to hawk freshly designed insurance policies. and the market scene – a government owned established insurance entity-the Life insurance Corporation with a field force of over 6,00,000agents and more than 80 products to choose from. Purchase of Insurance is a decision that determine by a number of demographic as well as personal behavior factors. Main responsible factors include Age, Income, Education, Risk, etc. Some of the important determinants as review by different scientists in their research are as under 2.7 Risk and return in industry Risk seems to be a fact of life experienced by an individual as well as by a whole organization. This risk may be economic, physical or financial. There is an increase in unexpected losses caused by natural disasters as well as accidental damage. Wealth is subject to possible loss, and therefore everyone from individual to the whole financial firm desire to invest in loss prevention activities that reduce the probability of loss (Hoffman, 2007). A sense of security may be the next basic goal after food, clothing, and shelter. There are various forms of risk is exist in the market. All the risks are differed from each other. Some risks creates a quick big impact on a business while, the impact of some risks can be seen at a long run. The risk in business is always associated with losses. Prevention and management of risk is only possible after having sufficient information regarding its intensity. Preventing and managing risk is one of the burning issues for the corporate world. The management of any company is always looking for the thing that will reduce the risk on their investment and definitely gives some output on the account of their investment. The ultimate thing that will satisfy this need is the return. Return is the proportionate sum of capital given to the investors for their investment. In other words, return is some kind of security against the investment made for any kind a business. Figure 2.1 Risks management in business Asset Market Credit Operating Business Event Liquidity Catastrophe Non-Catastrophe Risk Financial risk is mainly divided in to 2 main categories i.e. Systematic or Market risks and Unsystematic risk. The risk associated with an investment can be broadly divided into two categories based on nature and occurrence of risk. Some risks are associated with the firm, and that risks are called as firm-specific, whereas the rest of the risk is associated with market condition and generally affects all investments in whole market. The firm specific risk can be further sub-divided in to various categories. Some firm specific risks are affect s project value that is called Project specific risk and in some cases projects value is affected by the nature of competitions and that type of risks are known as Competitive risks. Some risks are affecting the value of a whole industry and so known as Industry associated risks. In some cases, all the companies in a market will affect by macro economic factors and so that type of risk is known as Market specific risk (Friend and Bicksler, 197 7). Default risk is the risk fallen on the part of financial institution or a creditors for your investments i.e. weather they are able to make a monthly return on your asset or not. To achieve short term financial goals most of the investors preferred cash investments. The only limitation with use of cash investments is that, they are unable to produce higher returns over long term as compared to other financial options. The only reason for this is cash investments are unable to adjust inflation rates. In other words cash investments are not preferable source of investment for long term project. So, what are the other options that will satisfies needs for investment of long term project. 2.8 Empirical research Economic decisions are made on both the negative as well as positive issues. Positive issue studies on insurance gradually integrated these issues via assimilating developments in the field of risk and uncertainty following works by Arrow (1963), Lewis (1989), (1953) and others. The economics on insurance demand became more attentive on evaluating the amount of risk to be shared between the insured and the insurer rather than evaluation of life or property values. Economic value judgments are made on both the normative as well as positive issues. Later studies on insurance gradually incorporated these issues via assimilating developments in the field of risk and uncertainty following works by von Neumann and Morgenstern (1947), Arrow (1953), Debreu (1953) and others. The economics on insurance demand became more purposeful when determining the amount of risk to be shared between the insured and the insurer rather than evaluation of property values. Headen and Lee (1974) studied the effects of short run financial market behaviour and consumer expectations on purchase of ordinary life insurance and developed structural determinants of life insurance demand. Morris and Barbara A (2003) study about Risk Insurance and mean study related with a Wedge between Insurers and Reinsurers, authored by credit analysts and legitimate disagreements between insurers and reinsurers about the values attributed. Criteria and claims values, insurers and reinsurers are equally concerned with the Risk. Cole et al, (2008) theoretical in observed research related to the comparative analysis between property-casualty insurance industry, studies commonly focus on either insurers or reinsurers. Richard et al (2008) give article of features a presentation and discussant comments on hurricane and wind insurance organized by Richard A., for the American Risk and Insurance Association (ARIA) 2007 Annual Meeting in Quebec City, Quebec, Canada. Venard et al. (2008) determine in the article of analyzes Hungarys insurance sector as an important part of the countrys economic transition from a centrally planned economy to a market economy. It details the historic economic development of the Hungarian insurance market from a state monopoly to a competitive. Yu, Tong et al 2008) study about Intangible assets facilitates insurers capacity to retain existing business and attract new clients. In his study it can be shows that analyze how the incentives to protect intangible assets affect asset risk-taking behaviour of property and ability insurers. Browne et al. (1993) concluded that income and social security expenditures are significant determinants of insurance demand. They further concluded that inflation has a negative correlation with demand of purchasing for insurance. Beck and Webb (2003) identified the two main services provided by life insurance: income replacement for premature death and long-term savings instruments. They further found that demographic variables, higher levels of education and greater urbanization as independent factors in explaining insurance demand. Income has been found to be having a positive association with health insurance purchase decision consistently in different studies conducted in different countries Propper (1989) in UK: Cameron, Trivedi (1988) in Australia and Hurd and McGarry (1997) in USA. Health insurance choice essentially entailed a simple decision whether or not to purchase private health insurance (Barrett and Conlon 2003). Binary discrete choice models using either logit or probit has been used to analyse determinants of this type of purchase decision. Cameron and Trivedi and Cameron (1991) specified a conditional expected utility function that is associated with alternative health care regimes. The consumer chooses the regime that maximizes expected utility. Feldstein (1973) has argued that as the price of health care increases, the demand for insurance should increase as well because this causes an increase in the risk of net worth depletion and thus an increase in the demand for insurance. Healthcare expenditure largely depends on healthcare costs. Recent research has documented that most of the secular change in health insurance coverage can be attributed to higher health care costs (Cutler et al. 2002). Zietz (2003) and Hussels et al (2005) has studied about purchasing behaviour of a customer to purchase life insurance over a period of 50 years. The research further concluded that there is a positive association observed between increase in savings behaviour, financial services industry and demand for life insurance. Beenstock et al. (1988) noted that marginal tendency to insure i.e. increase in insurance spending when income rises by 1$, differs from country to country and premium rates are varies directly with real rates of interest. Browne and Kim (1993) found from his study that income and social security expenditures are significant determinants of insurance demand; however, inflation has a negative correlation with demand of insurance. Beck et al. (2003) found out the two main services provided by life insurance: income replacement for premature death and long-term savings instruments. They considered three demographic variables i.e. young dependency ratio, old dependency ratio and life expectancy, higher levels of education and greater urbanization as independent factors in explaining insurance demand. Income is positively co-related with purchase of health insurance product, concluded from various studies conducted in different countries by Propper (1989) in UK: Cameron and Trivedi (1988) in Australia and Hurd and McGarry (1997) in USA. Barrett and Conlon (2003) concluded from their study that choice of health insurance essentially entailed a simple decision whether or not to purchase private health insurance. Binary discrete choice models using either logit or probit has been used to analyze determinants of this type of purchase decision. Cameron and Trivedi (1991) specified a conditional expected utility function that is associated with alternative health care regimes. The consumer chooses the regime that maximizes expected utility. Feldstein (1973) noted that as the price of health care increases, the demand for insurance should also increase. This is because an increase in the risk of net worth depletion. Healthcare expenditure largely depends on healthcare costs. Nyman (1999) noted that higher healthcare costs may led to higher demand for insurance in the face of rising costs. However, people belonging to different income groups are likely to respond differently to these changes. Kronick and Gilmer (1999) argue persons with low incomes and few assets buy insurance primarily to protect their health. Van De Ven and Van Praag (1981) noted that, education and income are generally positively correlated. Higher income generally decreases the opportunity cost associated with the purchase of private health insurance. Overall, increases in both income and education would be expected to lead to an increase in the probability of buying the insurance. Some studies conducted in context with the financial performance of General Insurance Companies of India. The Researcher has studied those research works which are as follows: Performance of various plans marketed by Life Insurance Corporation of India – A case study of Rajkot Division, A dissertation by Mrs.Sonal Naina evalua

J. R. R. Tolkien :: essays research papers

John Ronald Reuel Tolkien was born on January 3, 1892, in Bloefontain, South Africa, to English parents. The family was living in South Africa for his father’s job purposes. In April of 1895, Tolkien, his mother and brother Hilary returned to England. Their father, Arthur Reuel, remained in South Africa with plans to join his family when time permitted. While in England, news came that Arthur had died. After Arthur’s death, the family rented a cottage in Sarehole Mill, Birmingham. Tolkien spent many happy years there. By the time he was four, his mother had taught him to read and write. He quickly became fascinated with words. In 1899, he took the entrance exam for King Edwards School, but failed to obtain a place. He retook the exam a year later and was accepted. During his years at King Edwards, he learned Latin and Greek and the history of the English language. It was when Tolkien was twelve, his mother died of diabetes. He and his brother were left to the care of F ather Francis Morgan, with whom he lived for many years. Tolkien met Edith Bratt, his future wife, in 1908 when he was sixteen. He began to spend all of his time with her, igoring his studies, until at last Father Francis forbade them to see one another. Tolkien began his first term at Oxford University in 1911. Edith and Tolkien remained separate until he reached the age of 21 in 1913 and wrote her, asking him to marry him. She agreed and on March 22, 1916, they were married. It was difficult for the couple at first because Tolkien had enlisted in the army and was sent to France to fight in the first World War as a second lieutenant. He only lasted until October when he contracted â€Å"Trench Fever† and was sent back to England to recover. It was in 1917, that his first son, John Francis Reuel, was born. Tolkien began working on the Silmarillion, which would not be published until after his death. In 1920, his second son, Michael Hilary Reuel was born. He was followed by Ch ristopher Reuel in 1924 and finally by their daughter Priscilla Mary Reuel in 1929. Around 1933, Tolkien first began telling a story to his children of a funny character named Bilbo. Tolkien got the idea for The Hobbit from theses stories and, in 1936, completed the book.

Comparing King Louis XIV of France and King Philip II of Spain :: King Louis XIV, France, King Philip II, Spain

The palace of Versailles was built by King Louis XIV of France and the Escorial was built by King Philip II of Spain. The two kings each had their differences about their beliefs on how to rule, yet there are some similarities. Louis XIV believed in showing off his power and being open. Philip II was a simplistic guy devoted to Catholicism. They both had military to spread their beliefs and ideas. Despite the kings’ beliefs, their palaces reflected their ideals. King Louis XIV was a showy and self-absorbed king. His palace was representative of his personality and ideals. The Versailles palace architecture displayed Louis XIV ideals of secular issues. He cared more about spending money to show off his power. Unlike the Escorial, Versailles was centered on â€Å"The Sun King† instead of religion. At one point Louis XIV stated that â€Å"he was the state†. This statement was saying that Louis XIV represented the center and best of France. An example of this was that King Louis XIV lived in the middle of Versailles. Versailles was also very ornate and had the atmosphere of freeness. However, the Escorial was very basic like Philip II. On the other hand, King Philip II was a more careful and simple king. The Escorial was more compact and closed in unlike the Versailles. Like the Versailles, the Escorial demonstrated Philip II ideals of religious issues. In the center of the palace, where Philip II would spend most of his time, was the church and monastery. Philip II considered himself King of Spain second and Catholic first. He preferred to sit in the monastery to look at historical records rather than Louis XIV’s conception of a king. Both palaces were Catholic but religion had a bigger role at the Escorial Palace. Also at the Escorial palace you saw more military surrounding it as for the Versailles it wasn’t as guarded. While the two kings had many differences their militaries were surprisingly similar. They both had military troops that guarded and walked around the palace. The kings’ military was not only used for protection but also for spreading their beliefs and ideals. Their military was alert and ready to protect if there was to be an attack on the palace. King Louis XIV and Philip II both would have enough troops to go to war and express their thoughts but also enough to protect the palace.

If the White House Walls Could Talk :: American America History

If the White House Walls Could Talk They paint over me so many times as if they could cover up my memories. My memories cannot be covered up or erased, just as your memories they go on forever. I will never forget the Watergate scandal and Richard Nixon or women's rights from the mid-1800s to the 1900s. During the Watergate scandal, President Nixon corrupted justice, created a constitutional crisis, and eventually was forced to resign. President Richard Nixon corrupted justice. He led CREEP, which is the Republican committee for the re-election of the President. They sabotaged the Democratic Party. They were the actual burglars. CREEP were the people who really went into the Watergate apartments to wiretap and photograph documents. They raised tens of millions of dollars illegally for Nixon's reelection. Nixon alone without the people who worked under him hid tapes that contained evidence of the Watergate scandal. He only submitted excerpts from the tapes that made him look innocent. I remember when Nixon refused to hand over any of the other tapes. He claimed "executive privilege" and "separation of powers." From what the other walls and I saw after he was forced by the Senate to turn in the rest of the evidence he displayed complete dishonesty. He ignored lawful subpoenas; at leas t that is what the oval walls of Nixon's office told everyone. One of the West Wing's walls told me of speech he made saying he knew nothing of the Watergate cover-up and the nine months after the whole incident occurred he gave a speech taking responsibility and blame for the whole thing. The only good thing that I saw come out of the Watergate scandal was that it made the nation stronger. The United States of America survived a true constitutional test. It proved that impeachment is successful. Connecticut's Judge John Sirica, North Carolina's Senator Sam Ervin, and Professor Archibald Cox prosecuted Nixon for the Watergate scandal.

Every Child is Special (Film Analysis) Essay

1.Determine the issue or the problems that are predominantly brought up in the film. 2.If you were to be part of the story, which character who you would want to be so you can be part of the solution of the problem? see more:every child is special summary In the film Every Child Is Special, there are issues or problems shown that really happen in our society. The first one is the family issue; there is something wrong when it comes to parenting style done by Mr. and Mrs. Awasthi that affected the child’s behavior. The father doesn’t have enough time to guide his son, he punished Ishaan when he got in trouble or when he is misbehaving but he never tried to find out the reason behind. They did not really accepted Ishaan’s condition and did not give enough care for him. The other is the social issue; Discrimination, Ishaan’s classmates, teachers and others treated him differently just because he has difficulty in his studies and motor skills, they sometimes bully or even hurt him. They also discriminate children with disabilities by comparing their abilities with other kids. Child Labor, it is shown when Nikumbh was on his way to Ishaan’s house, he saw a little boy working. But he mentioned that,  "Putting your ambition to the child is worse than Child Labor†. The biggest issue that I’ve noticed in the film is the Education System. The way the other teachers teach their students, embarrassing the student in front of the class, beating, shouting, giving punishments when they can’t understand the lessons. I really don’t think that those will help or discipline the students instead it may just lower their self-esteem, they might think those hurtful words are true, may take away their interest in studying and worse destroy their dreams. We all have different special abilities. If I were to be part of that film, I would like to be Nikumbh, the art teacher. I admire his great love for all the children especially with those who have special needs. He is the one who brought huge solution to the problem faced by Ishaan and tried so hard to help him learn and improve his artistic abilities. Nikumbh made Ishaan’s parents realize that he is not misbehaving, that he is not lazy, idiot or hopeless just like the other teachers said and that he needs to be accepted and treated well. He did it right because, he understand Ishaan more than any other. He brought back Ishaan’s interest in painting and supported him in the times  that he almost gave up, telling him that even great people had encountered some difficulties before they achieve their accomplishments. The teacher provided the kid with much special attention, care and encouragement that resulted to the kid’s excellent improvement that surprises his parents and the whole school community. It would be a wonderful accomplishment for those people who can do what Sir Nikumbh did.

Mayan Civilization Advantages and Effect on America

Amayrani Mateo May 30,2012 KIPP-2016-NEUSocial Study Mayan Research Paper Did you know that Mayan civilization left back beautiful landmarks they made with their advanced technology? The Mayan spread throughout Mexico, Belize, El Salvador, Honduras and Guatemala. They Mayans had really advanced technology to look at the sky and be able to make calendars. They were able to observe the sky and make inferences. The Mayan civilization was different from any other civilization.Mayan civilizations should be taught in schools because of their influence on today’s citizens, advanced technology and students should learn about another civilization that is really known but not taught in schools and so that people studying Mayans learn about the heritage. Today, the astronomical and technological advances came from the Mayan civilization. Astronomers from the Mayan civilization created calendars that are more accurate then those of modern society. They have about eighteen different calend ars that was created on the movement of the moon, the planets and the sun.In order to make this happen, they also created mathematical theories. With these theories, they were able to trace the path of the planets. Mayan civilizations have thousands of archeological sites across Belize, Honduras, Guatemala, and Southern Mexico. (www. authenticmaya. com) There is a connection between the Latino/ Hispanics student in Massachusetts and in the Mayan civilization. There is 15. 4% of people in the state of Massachusetts who identify themselves as Latinos/ Hispanic. â€Å"Mayan civilization reached its height between 300 and 900 A. D†¦During this time, Mayan culture spread over much of Mesoamerica, including part of present-day Sothern Mexico, Belize, most of Guatemala, and parts of Honduras and El Salvador. † (Bower and Lobdell) There are things that we eat here that started in Mayan civilization. We eat things like maize, maize cobs and corn cob and other veggies. (www. foodt imeline. org) With those things we made things like Tamales or Tortilla, which were very famous in Mayan civilization. There are a couple Mexican and Central American restaurants around and they all started from the influence they had on Lynn. What happened to the Mayan Civilization?Why did they disappear? Mayan civilization is a mystery because no one knows how did they disappear or what happened to them. Learning about Mayan civilization will help with school things because your knowledge will grow. With these questions students can investigate further and find out more information o the civilization. All these questions keep people wondering and it can start very engaging discussions among other people. Having the skill to participate in a discussion is a great skill, also if you are wondering all these questions you will probably do some research on the civilization and you will know you more than other.Mayan civilization must be taught in schools in Massachusetts. Modern societ y can learn more about technological and astronomical advances because the Mayan civilization has influenced us already with some advances. About 15% of students in Massachusetts are Hispanic/Latinos. They have many similarities with people from the Mayan civilizations. Mayan civilizations taught us a lot of things and they helped give us ideas to do things certain ways. Ideas like calendars came from them.

Jainism vs. Sikhism Essay

Read the assigned chapters for the week and complete the following table. Be as specific as possible when identifying practices, beliefs, rituals, and historical elements. Cite sources in APA formatting. Core Beliefs Jainism Sikhism 1. Ahimsa – principle of noninjury 1. Naam Japna – remembering god through meditation 2. Sathya – truth 2. Kirat Karo – earning a honest living 3. Asteya – non stealing 3. Vand chakko – sharing income & resources. Selflessly serving others. 4. Brahmacharya – celibacy 5. Apigraha – non acquisition Part 2 Respond to the following questions in 150 to 200 words: 1 What do you think is the most important similarity and which is the most important difference? Use specifics to support your answer. Both faiths originated from the same part of the world. They are expected to be tolerant of all faiths and don’t believe that one path has the monopoly on the truth. Janism Sikhism – vegetarian because they belive believe it brings them closer to spirituality. – they have and order of monks and nuns – they practice the Caste system – polythetic religion – are not vegetarians they believe that eating meat doesn’t block your spirituality. – is bound to truth at all times and practices god conscience. – rejects the caste system and believes in gender equality. – monotheistic religion. Consider the following statement: Sallekhana (â€Å"holy death†) violates the Jain principle of ahimsa because it is an act of violence against oneself. Using examples from Ch. 5 of your text, what points might a follower of Jainism make to argue against this statement? Jains will prepare themselves after they have reached their virtue. They will walk into rivers, lakes, and oceans as well as starve themselves when they become elderly with the help of their families.

Cultural Sensitivity Essay

Cultural sensitivity is vital to remember when any firm does any business in a foreign market. Certain strategies and procedures used in the United States may not translate the same way in other countries or have the same impact. Other areas in the world operate their businesses with different priorities and in different cultures so it is crucial to consider how these differences may affect how business is done. Ethical situations will inevitably arise when a firm begins operations in a new international market so it is best to be prepared to face such situations with character. Company A now feels ready to enter the Eastern Asia market to continue its plans to grow the company and its profits. Taiwan is the country chosen for the next international expansion and there are many things to consider before entering this market. After researching several Eastern Asia markets to globalize in Taiwan, a republic of China was chosen as the country to expand in because there is the potential to manufacture a large volume of their engine parts there while paying very little in labor costs. The absence of any organized trade union is also a factor because there will be little resistance offered from any form of union. With expansion to any new country or region there are always cross-cultural ethical differences to take into consideration since all countries or areas hold their own world-views, religions, politics, traditions etc. Expanding to Taiwan with obviously has an impact on both Company A and Taiwan itself. While labor costs in Taiwan are much cheaper than the United States Company A must act ethically with concern to culture of Taiwan and the people who the employ there. Some people in Taiwan are grateful for American expansion to their country because there are more jobs available but there are also currently many in Taiwan who look at the American expansion in their country as a negative. There is a major concern in both Taiwan and the US that many of the multinational corporations doing business in Taiwan are doing far  more that just operating a company there. Most believe that these multinational corporations have a significant influence on the political agenda’s of Taiwan w ho have the interest of their company in mind before that of the people of Taiwan. There is also major concern for the worsening of government regulation in Taiwan, as there appears that they are not protecting workers from any physical, mental or social risk in the workplace. Company A should also consider creating some form or insurance benefits package for its Taiwanese workers as this would go a long way in showing them that they are ethical, that they care about their workers, and that they respect the Taiwanese people. This all has an affect on company A because they must make a conscious effort protect their image and brand so that they can continue to grow their business within the US and worldwide. Company A must make ethical decisions towards their operations across the company and within Taiwan so that they are not branded as a company who is simply taking advantage of cheap labor in a foreign country. With the majority of Taiwan believing that workers are not protected and that multinational corporations are attempting to influence political issues, I t hink it would be wise for Company A to make massive effort towards showing the people in Taiwan that they will protect their workers and use any influence they hold to help improve government regulation and attempt to mutually benefit both the company and the people of Taiwan. Company A must also consider the traditions and general way of life for the Taiwanese people. For instance learning their foods, drinks, religious practices, and recreational activities and somehow blending them into the company culture may help workers feel more comfortable and trusting towards Company A. Taiwanese people drink a lot of tea and juice drinks with boba in them so maybe offering or selling those within the company property would be a good idea. Also Buddhism, Taoism, and Chinese folk religion are the common practices in Taiwan so perhaps offering a place of worship on company grounds would be a great gesture. As far as work hours are concerned, Taiwanese people are working similar business ours that Western countries typically will work so they are hard working people and are accustom to similar schedule to what the factory in the US would for Company A. The will also be critical adjustments needed to be made regarding Company A’s marketing strategies in Taiwan versus how they would typically market their products in the US. There are different consumers in Taiwan because of their dense population and their culture. Most Taiwanese people would not tend to purchase large trucks or vehicles that would necessitate the heavy duty parts that Company A manufactures so they must concentrate almost all of their marketing efforts around a specific group of Taiwanese consumer or business that utilizes larger vehicles on a consistent basis. Company must market their product mainly to businesses that use heavy-duty equipment in their operations and in industrial areas since the average Taiwanese consumer would not buy a large truck, as they are not sold in such large volumes as they are in the US. As far as marketing to consumers Company A’s focus should be on the wealthy people of Taiwan who can afford to operate and maintain larger vehicles. Company A should also reduce the price of their product to ac commodate for a smaller volume of sales on trucks in Taiwan and also to begin attracting new clients since they will be new to the area. This price reduction should be offset somewhat by the less expensive labor costs experienced in Taiwan. Cross-cultural communication is also important for Company A to build a strong relationship with its Taiwanese workers. The first barrier to communication is language. The primary language in Taiwan is Mandarin Chinese and while most Taiwanese businessmen do speak English, it would be a good idea for some representatives from Company to a learn some Mandarin Chinese to help with communication efforts. Company should also consider having some translators available to maintain clear communication as well. Taiwanese business is based mainly off of respect so it is important to meet fact-to-face whenever possible, include senior executives meetings whenever possible, direct presentations to the senior ranking person and also make sure to give and receive any gifts with both hands as a sign of respect, and always look people in the eyes. It is also very important to refrain from being too frank or outspoken because this will be viewed as disrespectful. Is it vital to keep these practices as well as learning other important cultural traditions when conducting business in Taiwan or with any Taiwanese people. As far as marketing is concerned, while in the US marketing can be based around creativity and branding, it is important in Taiwan to focus  their marketing around integrity and respect. Taiwanese people and their businesses are less concerned with gimmicks and flash and maintain an emphasis on ethics and as always respect is absolutely vital. There will without a doubt be many cultural differences to overcome when opening a new plant in Taiwan. Marketing strategies and how businesses are viewed will not be the same in Taiwan as they are in the US so while A Company may be accustomed to operating their plants at home in a certain way, they must make adjustments to accommodate for the cultural variances of the environment their new plant is operating in. The impact that the cultural differences will have could be minor or they could be significant depending on how well Company A does their research and how they handle adapting their new plant to conform to the Taiwanese market while maintaining efficiency and their core company beliefs. Taiwan is densely populated country and their consumers purchase mainly small fuel efficient vehicles and since Company A specializes in engine components for heavy duty trucks they must focus their marketing strategies on smaller sized trucks with an emphasis on the advantages of their engi ne components, along with businesses that utilize heavy duty trucks in their operations.

Research proposal Essay Example | Topics and Well Written Essays - 250 words - 1

Research proposal - Essay Example The students were from different class and racial backgrounds. Hughes found out that while each had their own perception of the definition of gender, there were also instances when certain aspects varied. For instance, the definition of gender as an entity in each society revealed roles that in this case the females were supposed to engage in. These roles differed from society to society. The implication is that the definition of gender is dynamic and cannot be wholesome. The understanding of feminism as a whole therefore must be approach from a cross-cultural context. While the study goes a long way in the definition of gender construction in a cultural approach, it does not sufficiently separate it from sex. It follows that in all the sampled societies, roles are divided on the basis on one’s sex. This does not make sense therefore because the question â€Å"what gender are you?† would be no different from â€Å"what sex are you?† The gap therefore lies in the question, is gender merely a cultural inscription? The separation of gender and sex would, as will be seen in the study to be conducted, ease the perception of how one defines straight and gay people. If gender is to have a cultural inscription, it means that gay people are as dictated by their sex, to remain in their â€Å"respective† genders. However, if sex is not an issue, then gays and lesbians would be viewed as being in the right â€Å"place† as dictated by their identity. These are some of the changing perceptions of gender. Hughes, Kate. â€Å"I’ve Been Pondering Whether You Can Be a Part-Feminist’: Young Australian Women’s Studies Students Discuss Gender†. Women’s Studies International Forum, 28 (1). 37 -49.,

How Horses were still used in WWI Essay Example | Topics and Well Written Essays - 1250 words

How Horses were still used in WWI - Essay Example Still, the distinguished armed forces’ officers receive a sword as an award against exemplary performance. The ancient warfare was primarily based on courage, strategy, and strength of character. But, the computer technology took charge of major military operations in the world and therefore, the focus shifted towards technological proficiency and the element of courage and manhood became secondary in the context of current and prevailing warfare standards in the world. Still, the value of traditional weapons and tactics is being recognized in the literature (Treherne pp.142). The so-called modern Armies still train their soldiers in horse riding so that they should know the traditional and classical way of commuting when needed. However, the concept of warfare is becoming and transforming into something highly mechanized. In few decades from now, the traditional war will become a permanent resident of history books, as human soldier will be replaced with a robot. Thusly, it c an be established that human involvement in wars will become extinct in the future version (Bernard and Jones pp. 1036). But, in the context of World War I, the horses were used as a means of commuting. The timing of the featured war was considered concurrent with major technological and theoretical breakthroughs but the commuting infrastructure was not largely institutionalized and neither was it available to general public. The abovementioned shortages of mechanized transportation contributed significantly towards forcing armed forces to use natural resources a great deal (Treherne pp 140). Additionally, the vehicles of that time were low on the most important dimension of fuel economy and therefore, the authorities followed the notion of economic rationality in terms of deciding to use the most efficient source of transportation at their disposal. Humans’ profound inclination towards saving money and exercising tight control on cash outflows translated into vast scale use of horses in World War I. Furthermore, the Armies were not trained to use vans and other vehicles but they had a profound and notable efficacy to effectively use horse as a strategic tool in the panicked conditions that are associated with the perception of war. The two major reasons supported the application of horses in World War I. Firstly, the ill-developed industry of mechanized transporters and secondly, soldiers of that era did not have the appropriate training needed to use the modern way of transportation. Moreover, it is important to note that the other historically known war based on volume was fought with the help of mechanized infantry and tanks. Yet, in the case of the First World War, the fight was fought with the help of rifles and other simpler and elementary equipment. The idea of war was partially based on courage and leadership abilities when the maiden global military confrontation was being fought and the warriors’ best companion was also significantly i nvolved in its proceedings as well. The art and science of war transformed into highly technological endeavor by the time, the world entered into the terminal years of the 20th century. The major economic powers of the world managed to develop and perfect their nuclear technology by late 1990s and therefore, the world’s ability to destroy itself grew substantially over the past decade. In the view of political specialists, the probability of war has