Financial and managerial accounting Research Paper

Financial and managerial accounting - Research Paper Example The budget would help Groovy Music to estimate their regular demand which in turn, would be helpful in deciding the product mix. Also, by preparing Activity Based budget, Groovy Music may be able to allocate their costs better and hence, get a clear picture about which order costs more. Essay 2 - The Woods and Waters Company Service Division: Particular Amount ($) Revenue (8000 x $50) 400,000 Less: Total Operating Costs (given) 280,000 (a) Net Profit 120,000 (b) Total Operating Assets (given) 400,000 Return on Investment (a/b x 100) 30 % Irrigation Division: Particular Amount ($) Revenue (250 x $5000) 1,250,000 Less: Total Operating Costs (given) 1,000,000 (a) Net Profit 250,000 (b) Total Operating Assets (given) 1,000,000 Return on Investment (a/b x 100) 25 % Company as a whole: Particular Amount ($) Revenue (400,000 + 1,250,000) 1,650,000 Less: Total Operating Costs (given) 1,280,000 (a) Net Profit 370,000 (b) Total Operating Assets (given) 1,400,000 Return on Investment (a/b x 100) 26 % Considering just the ROI, it can be concluded that the Service Division has performed

How calcium is absorbed in the body Essay Example for Free

How calcium is absorbed in the body Essay Calcium in the diet of a teenager is actively absorbed in the small intestine and transferred into the intestinal capillaries. Describe the route this calcium would follow to end up in the upper arm. Describe in detail the role of calcium at the neuromuscular junction as well as its role in the mechanism of muscle contraction and relaxation of the triceps. Considering the function of calcium in bone growth, explain in detail how the humerus would grow in length. Calcium in the diet of a teenager is absorbed in the small intestine and transferred to the intestinal capillaries. It diffuses into the bloodstream through the gastric vein into the hepatic vein and then through the common iliac vein into the superior/inferior vena cava that brings the blood into the right atrium of the heart. The sinoatrial node which is located in the right atrial wall, would send an electrical impulse through the heart, causing it to contract. This would then trigger the AV node (which is located between the septum between two atria) to contract as well. When the AV node contracts it sends an impulse through the AV bundle and into the purkinje fibers (which in return causes the entire heart to contract). After going through the right atrium, when the heart contracts it opens up the tricuspid valve, therefore pushing the calcium into the right ventricle. When the heart contracts again (SA node contracts again through AV bundle and purkinje fibers) it causes the pulmonary semilunar valve to open and enters the pulmonary trunk and pulmonary arteries which then brings the blood into the lungs. Then it goes through a systemic loop (the tissue capillaries of the lungs) , which takes the now oxygenated blood and returns to the heart via the pulmonary veins from the lungs. Then from the pulmonary veins the blood enters the left atrium (SA node will contract, causing AV node to contract, sending impulse through the AV bundle, ending at the purkinje fibers) and calcium forces through the bicuspid valve, and into the left ventricle. Then the heart contracts, and (SA node/AV node/AV bundle/purkinje fibers) causing contraction and blood travels through the aortic valve and then into the aorta. From the aorta, the calcium in the blood goes into the right and left subclavian artery and branches down to the axillary artery, and then towards the bra chial artery. From the brachial artery, the oxygenated blood containing calcium in it, goes to the muscles of the upper arm (the brachii muscles) and gives nutrients to the tissue cells. Calcium plays an important role in muscle contraction. Firstly, an action potential arriving at the acon triggers the release of the neurotransmitter called acetylcholine (ACH) at the neuromuscular junction. The acetylcholine (ACH) binds with the muscle receptor and sodium ions (Na+) are released, which triggers the action potential in the muscle cell. The action potential transmits through the sarcolemma. The calcium (Ca+) ions are then released from the sarcoplasmic reticulum. The calcium ions bind with troponin (making it change shape) which makes the troponin release tropomyosin. The myosin then binds to the actin. With the hydrolysis of ATP the myosin head changes shape and a cross-bridge is formed causing the muscle cell to contract. This cycle repeats itself until the contraction is done, or when there is nor more calcium or ATP energy. Once the triceps muscle is relaxed then the calcium gets back into the sarcoplasmic reticulum. During relaxation of muscle cells, the level of calcium in sarcoplasm is low and the troponin holds the tropomyosin in position to block myosin-binding sites on actin. During contraction of the muscle cells, a muscle action potential opens calcium channels in the sarcoplasmic reticulum and the calcium flows into the cytosol. The growth of bones can happen through two different types of ossification which include: intramembranous ossification and endochondral ossification. The process for the growth of a long bone like the humerus, the process of endochondral ossification is used. This takes place on the epiphyseal plate (made from remaining hyaline cartilage) in the metaphysis area of the bone. There are four zones on the epiphyseal plate: a) the resting zone which contains the chondrocytes, b) the zone of proliferation where the chondrocytes divide and push the resting cartilage outwards, c) the zone of hypertrophic cartilage where the chondrocytes enlarge and lengthen the diaphysis, d) Zone of calcification- where dead chondrocytes and new one matrix is created. At the end of the growth period, the epiphyseal plates  are completely ossified and the epiphyseal plates close around the age from 18-25. The epiphyseal plates then become the epiphyseal lines. The calcium is a necessary dietary requirement for proper bone growth, development in the body, and to prevent bone deterioration or an example of a disease called osteoporosis.

Life Insurance And Swot Analysis Commerce Essay

Life Insurance And Swot Analysis Commerce Essay Security has always been a universal desire, right from the earliest civilizations. This quest for security has been a major motivating force in the progress of mankind. The early societies looked up to their families for providing this security, which resulted in cohesive units. Gradually, as lifestyles changed and as man progressed into a more modern industrialized setup, this cohesive quality of the family started fading. One had to look for other ways of providing economic security and somewhere along the line was born à ¢Ã¢â€š ¬-insurance. The insurance landscape in India is in the process of tremendous change. Closed to foreign competition due to nationalization in 1956, the Indian insurance industry was run by the government for over 40 years through the life insurance corporation of India (LIC) and four general insurance companies that spanned the length and breadth of the country. In the last couple of years there are a few forces acting on the industry that have brought about significant changes in the behaviour of the industry trends. Moreover there have been significant changes in the service outlook with respect to insurance industry. From the opinion that it was an instrument intended to provide monetary support at the time of the death of an individual, life insurance life insurance grew up to be a major financial instrument during the past 50 years in our country. There has also been a change in the consumer outlook with regards to life insurance as very beneficiary financial tool as against the orthodox thinking of unfruitful use of money. In this highly competitive market where mere survival has become primary objective for companies, customer service holds a major place in business. Every insurance company delivers service as per the terms of contract, however there are very few companies that go beyond the contract and augment the customers. This requires a learned and trained staff i.e. the agents. The following findings throw light on the service perspective bringing out the fundamentals of service marketing and its determinants. The finding of the research widens the consumer understanding aspect and it would be very helpful to imbibe customization. The research studies the changing trends in life insurance and describes the latent potential and also gives a hypothesis on the future of the insurance industry based on the study of insurance sector and the expert opinion. Origin of Insurance We live in exciting times with changes and upheavals all around. New technologies, new inventions and changes in the economic and financial scenario, all have thrown up new insurance needs; needs never felt or heard before. This type of evolutionary process, in the last few decades, has given hope to new types of need-based insurance covers; public liability insurance, product liability insurance, indemnity for medical practitioners for negligence, indemnity for chartered accountants and auditors for professional lapses, etc. Further, covers are engineering insurance, erection insurance, loss of profit, cover against atomic radiation and space travel and contracting AIDS. Around 6000 years ago, Babylonians, whose home in the Tigris Euphrates valley lay at the crossroads of early world traffic, had developed business practices to a high degree. Babylon had become the clearinghouse of trade as all the important land trade routes converged in that territory. From Armenia in the north, China and India in the east, Egypt in the west, caravans came laden with merchandise. Though Babylon built up a great commercial system, and her people were the first to enjoy the fruits of political economy, their territory was surrounded by huge tracts of desert. Recorded evidences testify that ancient India was a prominent maritime power. There were busy seaports on the west coast at Broach, at Kaveripumpatnam in the south and Bang in the east. Traders expressed difficulties in realizing money for the goods sent abroad. Loans were advanced to traders at specified rates of interest depending on the risk run and the duration of time for which money was required. Men skilled in sea voyages worked out risk premium rates. The first Indian insurance company was the Bombay Mutual Assurance Society ltd., formed in 1870. This was followed by the Oriental life Assurance in 1874, the Bharat in 1896 and the Empire of India in 1897. Hindustan Cooperative was formed in Calcutta, the United India in Madras, The Bombay Life in Bombay, The National in Calcutta, The New India in Bombay, The Jupiter in Bombay and the Lakshmi in New Delhi. These were all Indian companies started as a result of the swadeshi movement in the early 1900s. By the year 1956, when the Life insurance business was nationalized and the Life Insurance Corporation of India (LIC) was formed on 1st September 1956, there were 170 companies and 75 provident fund societies transacting life insurance business in India. After the amendment to the relevant laws in 1999, the LIC did not have the exclusive privilege of doing life insurance business in India. By 31st march 2002, eleven new insurance companies had been registered and began to transact life insurance business in India. Does one need insurance The business of insurance is related to protection of the economic values of the assets. Every asset is of some value and is expected to last for a certain period of time during which it will deliver that value. In case the asset is destroyed it ceases to provide the value to the owner thus leading to an unpleasant situation. Insurance is a mechanism to reduce the effect of such unpleasant situation. Human life is considered to be a value generating asset and is also subject to risks. Assets are insured because there if a possibility that perhaps they might get destroyed, through accidental occurrences. Such possible occurrences are called perils. If such perils can cause damage to the asset we say that the asset is exposed to risk. To be more prà ©cised Perils are the events and risks are the consequential losses or damages. The risk only means that there is a possibility of a loss or damage, the loss may or may not happen. Insurance is done against the contingency that it might ha ppen. Insurance is relevant only if there are uncertainties. If there is no uncertainty about the occurrence of an event, it cannot be insured against. In case of human beings death is certain; however the time of death is uncertain. Insurance doesnt protect the asset. It doesnt prevent the loss due to its peril. The perils can sometime be avoided by ensuring better safety and damage control management. Insurance only tries to reduce the impact of the risk on the owner of the asset and those who depend on that asset. Only economic consequences can be insured. If the loss is not financial, insurance may not be possible. Moreover insurance is backed up with many economic benefits which can be enlisted as follows. Life insurance provides financial security to the family in case of untimely or premature death. Life insurance is also a potent instrument for saving. Life insurance provides financial independence in old age. Organizations or individuals, who are in credit business, can ensure for themselves recovery of loan in case their debtor dies. A partnership firm can insure partners to the extent of capital invested by each in the business. Under à ¢Ã¢â€š ¬-key man insurance, an organization can insure the lives of their executives, whose expertise greatly contributes to their profits. Organizations can purchase group insurance policies as a part of their employee- welfare program. Life insurance also provides tax benefits to the holder. Life insurance policies create an estate. Life insurance policies also create thrift. I.e. a compulsory saving. A policy of life insurance can be used as a collateral security for procuring loans from the market. Working of life-Insurance Business There are three primary methods to avoid risk viz. A) AVOID B) REDUCE C) TRANSFER Insurance deals with transfer of risk from the consumer to the provider. Insurance works on a fundamental principle of pooling of risk. People who are exposed to the same risk come together and agree that, if any one of them suffers a loss, the others will share the loss and make good the person who has suffered the loss. The manner in which the loss is to be shared can be determined beforehand. It may be proportional to the risk that each person is exposed to. This would be indicative of the benefit he would receive if the peril befell him. Insurance companies collect the share in the form of premiums and create a fund from which losses are paid; this fund is known as the life fund. The insurance company pays the losses to the members of that group. The insurance company also invests the funds in governmental and private organizations. Ex. LIC has lent a capital of Rs.215million to NABARD for its rural financing activities. Life Insurance Marketing Triangle The above diagram explains the services triangle with its three constituents, namely, the company, the provider and the consumer. Each of them have been explained as follows:- The Company The Company makes various promises to its customers through external marketing. The way and means of marketing will be covered it the marketing mix. The Provider The agents and the development officers act as the front-line staff and they are in direct contact with the potential or existing customers. They are the ones who keep or satisfy the promises made by the company. The marketing of insurance basically comes under concept selling. The agents are thus given various incentives, rewards, commissions and all the necessary training required. As regards incentive, they receive PLI (Productivity Linked Incentive), which is based on the increase in premium amount and the sums assured by the agent. They are also given extra commissions in case of policies, which are of high value. There are normal promotions for any good work done on a regular basis. The agents generally work under the training and guidance of their respective development officers. The Consumers The consumers are the policyholders. Apart from the routine life insurance policies other services like housing finance, mutual funds, pension and group insurance. Thus the range of consumers is far and wide Life insurance mix The identification of the seven Ps of marketing mix helps a firm to form better marketing strategies and also to serve the customers in a more efficient manner. Product Mix The best way to get and keep customers is to constantly figure out how to give them more for less. A product mix is the set of all products and items that a particular seller offers for sale. In case of insurance sector, the product mix comprises of Life and Non life insurance policies that are offered to the customer by the company. A companys product mix has certain width, length, depth and consistency. The length of a product mix refers to the total number of items in the mix. In case of insurance sector, the following is the length of product mix: Whole Life Policy Limited Payment Life Convertible Whole Life Policy Joint Life Endowment Policy Double Endowment Policy Jeevan Saathi Money Back Policy Annuity Plans Group Insurance Policy Bima Sandesh With or Without Profit Policy The depth of a product mix refers to how many variants are offered of each product in the line in the insurance sector, one policy can be made available in different variations. Some of the examples are as follows: WHOLE LIFE SCHEMES Whole life policy whole life Limited payment whole life Single Premium With profit policy These product mix dimensions permit the company to expand its business. E.g.: It can add new product lines thus widening its product mix. Product Differentiation Product differentiation may be referred to as the points or the qualities that a firm has in its product, which makes the product different from its competitors product. The product differentiation as far as the insurance sector and LIC in particular is concerned are as follows- Bonus- insurance companies issue bonus to their policyholders when they make a substantial amount of profit. If a company issues a high amount of bonus, it delights the customer and creates a good image in the eyes of the customer. Past records- the differentiation can be done on the basis of past records. Customers choose to take policy from that company which has well past records in terms of claim settling periods, premium collection intervals etc. Market reputation- a company with a good market reputation and goodwill is perceived to deliver the best of the service quality and customer satisfaction. Technology- technology plays an important part in product differentiation. For e.g.: LIC was the first company in the insurance sector to introduce use of I.T and Computers. This makes customers feel that the company is not lagging behind the world and is capable of making the full use of technology to satisfy the customers. Feedback- feedback from customers also is an important tool with which product of the company can be differentiated. If effective steps are been taken on the feedback of the customers, it leaves a long lasting impression on the minds of the customers. Price- if a particular company charges more for the same product as compared to their competitors, it may lose the customers and vice versa. Price Mix Price is one element in the marketing mix that produces revenue; all the other elements produce costs. Prices are easiest marketing mix elements to adjust; product features, channels and even promotion take more time. Price also communicates to the market the companys intended value positioning of its product or brand. In the insurance sector, every company has to deposit an initial fixed capital of about Rest. 100 crore with Insurance Regulatory Development Authority, which is considered as the apex body of Insurance sector. The company gets periodic interest on this amount. With this interest amount, the company pays for the recruitment, training and development of the agents. The price in case of insurance sector refers to the premium charged on the policy. The Tariff advisory committee fixes the price for each policy. Hence all insurance companies have to charge approximately similar premium on similar policies. However, different elements affect the rate of premium to be charged on each policy. The price for the same policy is different for different companies. The company must set its price in relation to the value delivered and perceived by the customer. If, the price is higher than the value received, the customer will not be willing to pay so high and the company will lose potential profits. If the price is less than the value received then, the company will fail to receive the profit that it deserves for providing a good service. BLUE PRINTING SEVICE MAPPING The blue printing show what the product should look like a details the specification to which it should conform. In contrast to the physical architecture of building, ship, or piece of equipment service process have a largely intangible structure. The process of logistics, industrial engineering, decision theory, and computer system analysis each of which employs blue print techniques to describe processes involving flow, sequences, relationship and dependencies. Sectorial study Insurance is suddenly gaining all the attention and what used to be a strange would in it is a household name, thanks to opening up of the industry, while there are several reasons for opening up of insurance sector the foreign investors are eyeing it as a very lucrative prospect. After the opening up, several private insurers have started operating in life insurance, especially in metro areas. New marketing channels like Banc assurance, brokers, etc. are also in the offing. KEY MARKET INDICATORS.Size of market life non-life $16 billion Total Global insurance premium (as on 2001) $2408.25 billion(-1.5% as against 2000) Rate of annual growth 2002-03 Life- 11.27% Non-life- 23% Geographical restriction for new players None. Players can operate all over the country. Registration restriction Composite registration not available. Equity restriction in the new Indian insurance company Foreign investor can hold up to 26% of the equity. Number of registered companies. Public sector 01 Private sector 13 Comparison of similar policy of competition Company Policy Min/Max entry age Minimum Premium Min sum assured Liquidity years Maturity benefits LIC Money back with Profit 13/50 Rs. 3186 yearly Rs. 50000 5,10,15,20 40% of sum assured + bonuses ICICI Prudential Cashbook 16/55 Rs. 6000 yearly Rs. 75000 4,8,12,16,20 50% of sum assured + bonuses Bajaj Allianz Cash Gain 14/50 Rs. 5000 yearly Rs. 50000 4,8,12,16,20 125% of sum assured + bonuses Life insurers in India As an answer to globalization of economy and the increasing pressure of the WTO regulations, the govt. appointed the Malhotra Committee. After considering all aspects, the government ultimately enacted Insurance Regulatory and development authority and vested the authority to formulate regulations for insurance industry. IRDA and the LIC allowed the entry of foreign investors on a condition that they enter in collaboration with a local company. Public sector Private sector Life Insurance Corporation of India(LIC) 1. Allianz Bajaj life insurance Company limited. 2. Birla sun life insurance Company limited. 3. HDFC standard life insurance company limited. 4. ICICI Prudential life insurance Company limited. 5. Reliance life insurance Company limited. 6. ING visa life insurance Company limited. 7. Max New York life insurance Company limited. 8. MetLife insurance company limited. 9. Om Kodak Mahindra life insurance co. ltd. 10. SBI insurance company limited 11. TATA-AIG life insurance Company limited. 12. AMP-Samar Assurance Company limited. 13. Aviva Life insurance company limited Life Insurance Players in India 1. Yr.: 1947-2000: (From 1947 to 1st April 2000) First life insurance company (LIC) set by Indian government in 1956. This is public company. 2. Yr.: 2000-2001: (From 2nd April 2000 to 31st December2001) Insurance Industry in the year 2000-2001 had 10 new entrants, namely: Synod. Registration Number Date of Reg. Name of the Company 1 101 23.10.2000 HDFC Standard Life Insurance Company Ltd. 2 104 15.11.2000 Max New York Life Insurance Co. Ltd. 3 105 24.11.2000 ICICI Prudential Life Insurance Company Ltd. 4 107 10.01.2001 KodakHYPERLINK http://www.omkotakmahindra.com/Mahindra Old Mutual Life Insurance Limited 5 109 31.01.2001 Birla Sun Life Insurance Company Ltd. 6 110 12.02.2001 Tata AIG Life Insurance Company Ltd. 7 111 30.03.2001 SBI Life Insurance Company Limited. 8 114 02.08.2001 ING HYPERLINK http://www.ingvysyalife.com/Visa Life Insurance Company Private Limited 9 116 03.08.2001 Bajaj Allianz Life Insurance Company Limited 10 117 06.08.2001 MetLifeHYPERLINK http://www.metlife.co.in/India Insurance Company Pvt. Ltd. 3. Yr: 2001-2002: (From 1st Jan 2001 to Dec. 2002) Insurance Industry in this year, so far  has 5 new entrants; namely S.No. Registration Number Date of Reg. Name of the Company 1 121 03.01.2002 AMP HYPERLINK http://www.ampsanmar.com/Samar Life Insurance Company Limited. 2 122 14.05.2002 Aviva Life Insurance Co. India Pvt. Ltd. 4. Yr: 2003-2004: (From 1st Jan 2003 till Date) Insurance Industry in this year, so far  has 1new entrants; namely S.No. Registration Number Date of Reg. Name of the Company 1 127 06.02.2004 Sahara India Insurance Company Ltd. Performance of the Industry Post-Privatization, the life insurance industry grows by leaps and bounds. The attitude of people towards life insurance itself is changing. People are becoming more and more aware of the advantages of the Life insurance policies. Generally performance in life is measured in terms of first year premium collection and no. of lives covered. In 2003-04 Life Industry grew by 10.5% in terms of first year premium. It is showing steady growth rate in the current financial year as well. The sector witnessed a growth of over 50% for the month of April 2004, vis-à  -vis April 2003. The premium in comparison, LIC underwrote premium of Rs.72, 304.62 lakh i.e., a market share of 82.33%. In terms of policies Underwritten, the market share of the private players was 17.88% as against 82.17% of LIC. The premium underwritten by the private players for individual policies stood at Rs.12, 107.63 lakh, towards 89,918 policies with group premium accounting for Rs.3, 411.30 lakh towards 84 schemes. The n umber of lives covered under group schemes was 1, 01,392. ICICI Prudential continued to lead amongst the private players with premium at 6.15% and policies at 4.85%. In terms of number of lives covered, OM Kodak led with 21,325 lives viz., 5.83% of the total lives covered. Premium underwritten by LIC under Varishtha Bima Yojana during the month of April, 2004 was Rs.26, 734.25 lakh towards 13899 policies of which 29.60%, in terms of both premium and policies, was underwritten in the rural sector. From the opinion that it was an instrument intended to provide monetary support at the time of the death of an individual, life insurance life insurance grew up to be a major financial instrument during the past 50 years in our country. There has also been a change in the consumer outlook with regards to life insurance as very beneficiary financial tool as against the orthodox thinking of unfruitful use of money. Increasing number of people has been opting for it. The number of policies issued by the LIC of India since 1995-96 is a clear indication of the popularity gained by life insurance. Competitors on life insurance Year. No. of policies (total) No. of policies (rural) 1995-96 1996-97 1997-98 1998-99 1999-2000 2002-2003 1.10 core 1.23 crore 1.33 crore 1.48 crore 1.70 crore 2.42 crore 52.57 lacs. 60.33 lacs. 68.40 lacs. 81.23 lacs. 97.04 lacs. 45.23 lacs. Form the above table it is eminent that the importance of life insurance has grown gradually over a period of time not only in metro areas but also in rural areas. As there has been a dramatic increase in the importance of life insurance, the number of policies issued per annum has also increased, thus leading to a great change in the total premium amount collected. The total amount mobilized by LIC during the past few yearsstands witness to the growing importance of insurance. (Rs. In Cores) Total amount mobilized 1998-99 2002-03 Total premium income from investments Rs.22,805.80 Rs. 13,183.92 Rs.54602.37 Rs.25030.50 Market share of private player Characteristics of Insurance sector as oligopoly are as follows: 1. Presence of few sellers: After liberalization the no. of sellers increased from 1 to 13 as on date, like LIC, ICICI Prudential, HDFC Standard, Birla Sun life, Om Kodak, SBI Life, ING Visa, and MAX New York Life etc. 2. Regulator: IRDA (Insurance Regulatory Development Authority) regulates the Insurance industry. License to the new comer is granted by it only. All products, premiums, Tariffs require its approval. 3. Price Giver: Price of the policy i.e. premium is calculated by the actuaries of the respective companies depending upon the nature of risks covered, coverage of the policy and many other probability calculations. But premium as well as the product needs to be approved by IRDA. 4. Entry or Exit Barrier: There is no free entry into this sector as already outlined New entrants has to satisfy certain condition before entering into this industry. Exit is even tougher since all the contracts are long term so there are very strict regulations for exit from the industry by IRDA. 5. Product Differentiation: There are no homogenous products. There are wide varieties of products available in the market. Each seller can introduce Any new policy depending on the efficiency of its product development team within the broad guidelines of IRDA. 6. Advertisement: Sellers spend huge amount of their yearly budget on advertisement to educate the consumers about their products and their company. IRDA ensures that advertisement does not mislead people. The IRDA has made it mandatory that every advertisement carries the line; à ¢Ã¢â€š ¬Ã¢â‚¬ ¢Insurance is matter of solicitationà ¢Ã¢â€š ¬- so that people know that they are reading an advertisement. 7. Investment Policy: Investment of life fund up to 75% in government securities is mandatory as per IRDA. 89% of the total surplus to be distributed to policyholder as bonus every year. 8. Market Share: Still the private sector companies are in nascent stage and major chunk of market pie is still owned by public sector giant (LIC). But private players are also competing very bravely. The influence of private players has created the following benefits: Benefits to customers: Reduction in the price of product under competitive market. More innovative products to be available in a competitive market. Improved management of investment portfolio. Improved quality of service due to use of IT and multi distribution channels. Benefits to Industry: New Insurers to earn high profit in the initial stages due to large size of Indian insurance market. Insurance intermediaries will include agents, Brokers, Independent Financial Consultants etc. The commission paid may exceed Rs.46000 Cores in a period of 10 yrs. annually. Advertising campaigns may reap benefits as an additional advt. market for Rs.10000 Cores will be opened in 10 yrs. directly related to the insurance sector. Computer industries will benefit. Placement services, management institutes training institutes will also be benefited as the insurance sector after opening up will require many people thus increasing the employment opportunities. PEST Analysis for Insurance services Political/ Legal Influences which have an impact on financial services and consumer confidence include the following:  · The Insurance Regulatory and Development Authority (IRDA): Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDAs online service for issue and renewal of licenses to agents. The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products, which are expected to be introduced by early next year. The IRDA since its incorporation as a statutory body has been framing regulations and registering the private sector insurance companies. IRDA being an independent statutory body has put a framework of globally compatib le regulations. Privatization of Insurance sector: The introduction of private players in the industry has added to the colours in the dull industry. The initiatives taken by the private players are very competitive and have given immense competition to the one time monopoly of the market LIC. Since the advent of the private players in the market the industry has seen new and innovative steps taken by the players in this sector. The new players have improved the service quality of the insurance. As a result LIC down the years have seen the declining phase in its career. The market share was distributed among the private players. Though LIC still holds the 80% of the insurance sector but the upcoming natures of these private players are enough to give more competition to LIC in the near future.  · FDI in insurance sector: Then, the issue came of amount of FDI to be allowed by a foreign player in the insurance sector. The government had allowed the private players to have foreign equity up to just 26 %. Efforts are going on to raise this to 49 %. After the opening up of the sector, a total of 18 private sector companies have entered the life insurance business and all of them have entered with a foreign partner. Economic factors are key variables which have an impact on the activity in the financial services sector. The level of consumer activity is governed by income levels and personal wealth. As income levels grow, more discretionary income is available to spend on financial services. Consumer confidence in the economy and in job security also has a major impact; if lean times are foreseen ahead, savings will take priority over loans and other forms of expenditure. Consumers may also seek easy access savings and be willing to tie up their money for longer periods with potentially more attractive investments.  · Indian economy growth projections: By 2025 the Indian economy is projected to be about 60 per cent the size of the US economy. The transformation into a tri-polar economy will be complete by 2035, with the Indian economy only a little smaller than the US economy but larger than that of Western Europe. By 2035, India is likely to be a larger growth driver than the six largest countries in the EU, though its impact will be a little over half that of the US. India, which is now the fourth largest economy in terms of purchasing power parity, will overtake Japan and become third major economic power within 10 years. All these facts or forecasts only drive at one point. India is

Playing the Character John from Blue Remembered Hills :: Blue Hills Remembered Danile Potter Plays Essays

Playing the Character John from Blue Remembered Hills The group, consisting of John, Audrey, Angela, Willie and Raymond; have heard a bomb siren going off from the nearby prison camp. They know that this means danger and as they are in the woods, they cant go anywhere for cover and start to worry about one of the prisoners, or â€Å"Ities† and â€Å"Wops† as they call them, having escaped. They decide to keep an eye out for any dangers but all the talk of these â€Å"Ities† had got them just frightening each other even more. Raymond hears a sudden noise and the threat sends them running for cover in the long grass, huddling together as a group. After a while, they find out that the disturbing noise was in fact their friend, Peter, running through the woods towards them because of the sirens. Having left Angela’s pram behind, John and Peter decide to go looking for it; and this is where the scene ends. When we first see the group in this scene, they are all huddled together in the cover of the long grass. John reassures the rest of the group that this is a safe place to hide. (unsure) â€Å"Him wont find us down here† â€Å"This is nice and safe. Ennit?† John is slightly unsure of just how safe they are and in both quotes he is not only reassuring the group but also himself. I would say the first quote with confidence and while looking through the grass. The second line would be said in a lower pitch of voice as he is not as confident and say â€Å"Ennit?† as in an agreeable way and not in an asking way; even though John is adding this as if asking for support. â€Å"Did – did you see him?† I would say the first â€Å"did† in a nervous way but then adjust my voice to sound more confident in the rest of the sentence emphasizing the â€Å"see† as it is in italics. I think the reason the writer did this was because John wants to seem braver than he really is, but when he asks this question, he wants to know if there actually is a threat before he appears too nervous. â€Å"They’ll have the guards out after him. They’ll soon catch him.† Again, here John is reassuring himself by reassuring the group. When Audrey states, that shooting the escapee is a â€Å"Good job†, she shows just how confident she is and how little fear she has compared to the rest of the group. Angela soon starts to worry about the pram, which is obviously precious to her; John states that it will be fine where it is.

Aspects of Contract and Neglegence for Business Essay

INTRODUCTION This report focuses on the identification of the aspects of contract and negligence for business. There are agreements and contract in every business in recent than before. Verbal agreements are usually no longer used by the businesses. Written agreement in the form of contract is ore preferable to all. But, the profitability of contract is incomplete if the regulations and aspects are unknown. Well acknowledgement of contract in business provides a legal documentation securing the expectations of the parties involved. Contracts work as a safety tool of the resources. On the contrary, negligence is rising into the cornerstone of our system for compensating people for accidental damage and injuries. This is because it allows the courts to award damages in tort in some circumstances where it is not possible to do so in contract. This report will help learners to understand in and all about the contract formation and negligence of contract in businesses. LEARNING OBJECTIVES TASK 1 Understand the essential elements of a valid contract in a business context TASK 2 Be able to apply the elements of a contract in business situations TASK 3 Understand principles of liability in negligence in business activities TASK 4 Be able to apply the principles of liability in negligence in business situations. TASK 1 LO 1.1 Importance of the essential elements required for the formation of a valid contract Offer and Acceptance: The existence of an offer and an acceptance are a process of dissect the procedure of arrangement to decide whether an agreement has been created. Common consent of the parties is necessary of an agreement. Without an agreement, contract is impossible. Consideration: another vital element is consideration of the parties related to the contracted subject. Legal consideration makes the parties form a contract. Capacity: Both or all of the parties need to be capable to deal an agreement. Having mental disorder, under age etc. make incapacities to form a contract. Consent: The understanding would be invalid, if the part doesn’t come without consent. Consent means willingness of the parties. It  might be influenced by several issues. Certainty: It is needed to the subject of the contract be certain. Uncertainty creates ambiguity in the contract. Lawfulness: The subject is important to come into deal or contract legally. Otherwise, it won’t be count as a contract according to the law. LO 1.2 Impact of different types of contract Bilateral and Unilateral Contracts If two parties exchange a shared and equal guarantee that ensures the execution of a gesture, a commitment or a transaction or avoidance from execution of a demonstration or a commitment, concerning each gathering included in the agreement, is called as bilateral contract in the aspects of law. It is also called as a two-sided contract. Unilateral contract is a guarantee provided by one and only gathering. The offeror who offers, guarantees to execute a certain gesture or a commitment if the offeree who accepts the offer, coincides on performing an act that is seen as a lawfully enforceable contract. It usually asks for an acknowledgement from the other gathering to get the agreement executed. As a result, it is an imbalanced contract since just the offeror is certain to the court of law nor the offeree. An important objective of this type of agreement is that, the offeree can’t be sued for refraining, forsaking or actually neglecting to execute his demonstration, since he doe sn’t guarantee anything. If two parties trades a mutual and reciprocal promise that implicates the execution of an act, refraining, abandoning or even failing to execute his act, since he does not promise anything. LO 1.3 Terms in contracts with reference to their meaning and effect CONDITIONS A condition is an important matter of subject which is considered as the basic to the main cause for the formation of agreement. A breach of condition qualifies the harmed party for denying the agreement. WARRANTIES Warranty is a less essential but unavoidable term. It is count as a must to the agreement as it is not fundamental. A warranty gives the harmed party the right to claim harms and the claimed party can’t revoke the agreement. INTERMEDIATE TERMS It is tough to define a term appropriately before time as either a condition or a warranty. A few issues may include a moderate position, in that the term could be surveyed as the outcomes of a break. Considering that a rupture of the term brings about extreme harm, the harmed party will be qualified for coercing the agreement where the break includes minor misfortune, the harmed party’s cures will be limited to harm. TASK 2 LO 2.1 Application of the elements of contract In the law of contract, the offer and acceptance is so conventional and significant. The principles of offer and acceptance include a standard offer, acceptance and correspondence around the two or more parties or people making the agreement is significant. In the given business scenario, it is noticeable that the examples of forming an agreement is when Mr. John was responded the duty of assuring new PC framework. He decided to buy from â€Å"Best Computers†, and marked a business concurrence with that organization for the supply of new machine frameworks. In business concurrence with Best Computers, the terms and conditions of the agreement were not clear enough, and Mr. John signed that contract without a bit regard for the all aspects of the assertion, which created a misery for him and few days later when they neglected to supply the machines on time and most of them were harmed. That happened because of the contractual subjects were not checked properly. The offer must b e unequivocal and immediate to an alternate party to contract. LO 2.2 Application of the law on terms in different contracts The Sale of Goods Act-1979 can be applied in the case of the case between Linda Green and the wholesaler. The act can be applied in the case in the following ways: If Linda Green wants a claim under the Sale of Goods Act, she has several possible ways of resolving the issue depending on the circumstances and on what she wants to be done. Well here the rights are against the wholesaler not the manufacturer as the seller was liable because of the wrong supply of product. The Sale of Goods Act 1979 gives the right to the buyer to get replaced, repaired or refunded if the goods are faulty and it is returned in the time as per the law provides that is 3-4 weeks after purchase depending on the type and nature of the faulty product. So  Linda Green can reject it and get a refund in stipulated time. The retailer must repair or replace faulty goods within a reasonable time. If don’t, Linda will be entitled to claim either a reduction on the purchase price or recision. If the retailer refuses, then the compensation can be claimed by repairing it by someone else and collect the amount ther e of (Simon and Gillian, 2005). But Linda’s claims end up in court, and then she has to prove that the fault was present when she bought the item  and it wasn’t the result of normal wear and tear. But if it is beyond six months, expert opinion is required to prove the faulty product. So given the following situations, Linda Green can easily succeed in claiming for the faulty goods. LO 2.3 Effects of different terms A proper evaluation of the effects of different terms is necessary to proceed with the contract. Here, a situation was given where some terms are noticeable. The followings are some of the terms of John’s contract with the Best Computers: The seller will not carry the risk for any damage or misfortune occurred by any flaw in workstation. Parties are able to cancel the request through a former notice of three days without acquiring any obligation for any misfortune. Value paid by clients is not returnable by the organization at the cancellation of the agreement. These are some essential terms included in John’s contract with the Best Computers. The organization should have been obligated to guarantee the safety of furnishing right machines or any available items without any mischief. The organization should have been responsible to answer for any occurrence. But conditions should be included in the understanding of the agreement. Creating legitimate framework of the canc ellation of agreement is moreover imperative throughout the given contract, but making some terms unnoticed is not lawful, all the terms and conditions involved in an agreement must be well defined and clear enough. TASK 3 LO 3.1 Liability in tort with contractual liability There are some significant differences exist in between the liability in tort and contractual liability. Some among of them are as: †¢ Contractual  obligations are willingly done but tortuous obligations are implemented by law. Contractual obligations give a free choice to enter in a contractual relationship but tortuous obligations provide no choices. †¢ a person is liable to pay or owes a duty only to the contracted party but liabilities in tort means that a person is liable to owe duty to all as not to defame or trespass other’s property. †¢ A historical difference of formation exists in these two. The contractual liability is created from three parts of actions as debt, covenant and sumps while the liabilities in tort are derived from the right of trespass. †¢ Usually liability in contract is strict and unavoidable once formed but the tortuous liability is based on fault. Any fault comes into account in the tortuous liability. It is more like common for everybody of a certain matter. The liability in tort is always paid lame care while the liability in contract is not at all. LO 3.2 Nature of liability in negligence In the given situation, the management of the organization is liable for the harms and injuries caused by the slippery floor of their office and they should also be considerable enough to consider themselves reliable for the damages or harms caused due the faults in their products. Strict obligation is risk without flaw. Recollect strict risk is not categorical obligation and is worth researching of the law on this zone. As depicted prior that tortuous obligation rotates around obligations settled by law. While strict risk is a standard for obligation which may exist in either by a criminal or civil connection. A rule defining strict obligation makes an individual legitimately answerable for the harm and misfortune brought on by his or her enactments and oversights paying little heed to culpability. In the given situation the administration of Best Computer is answerable for the damages and wounds brought about by the tricky floor of their office, and they might as well likewise be s ufficient to view themselves as dependable for the harms or damages initiated due the issues in their items. LO 3.3 Concept and elements of vicarious liability Vicarious liability Vicarious liability refers liability for the torts of others. It arises due to a relationship between the parties. It is a doctrine of English tort law  that imposes strict liability on employers for the wrongdoings of their employees. Generally, an employer will be held liable for any tort committed while an employee is conducting their duties. The vicarious liability provisions of the legislation are only applicable where the alleged discrimination and harassment occurs in connection with the person’s employment. This means the employer may be held vicariously liable for the actions of employees if they have not taken all reasonable steps to prevent the discrimination and harassment from occurring both within the usual work environment and at employer events, such as sponsored seminars, conferences, work functions, Christmas parties, business or field trips. An employer may be vicariously liable for the conduct of: individual employees or groups of employees directors, supervisors or managers workplace participants agents contract workers or people being paid commission a partner of a company harassing another partner Liability of individuals The vicarious liability provisions of the legislation do not preclude individual persons from being held liable for their own discriminatory or harassing behavior in the workplace or in connection with their employment. It may be that both the employer, who has been found to have not taken all reasonable steps to prevent the discrimination and harassment from occurring, and the individual, who is the alleged discriminator or harasser, will be held jointly liable for the behavior. TASK 4 LO 4.1 Application of the elements of the tort of negligence There are several components of negligence that obliges that an offended party illustrates the accompanying four variables. They are: The litigant owed an obligation to the offended party The litigant abused that obligation As a consequence of the respondent’s violation of that obligation, the  offended party endured damage The damage was a sensibly predictable result of the litigant’s activity or inaction In this situation, the innocence is happened when number of people slipped at floor of the Best Computer office. In fact, they may as well inform the wet floor and show people entering to their office premises. LO 4.2 Application of the elements of vicarious liability It is obligatory for the occupier of premises to guarantee the health and security of the individuals working there. In the given situation it was obligation of the Best Computers to guarantee that their office premises are sheltered for its specialists. The risk appropriate in the given situation will be direct liability on the grounds that the administration is specifically obligated for the wounds created at their premises. CONCLUSION It is hoped that this report clarify its purposes of defining and demonstrating the contract and terms and conditions of contract. It also expresses an enough illustration of negligence which is a key fact to the contract. Whatsoever, parties involved within an agreement or contract need to have an well understanding of contract and negligence for every day business dealings which is mentioned in a suitable way in this report. REFERENCES Andrew Burrows,Ewan McKendrick,James Edelman (2007). Cases and materials on the law of restitution 2nd Edition. New York: Oxford University. BPP Professional Education, (2004). Mandatory Unit 5 Common Law I supporting foundation degrees. West Midlands, England: W M Print. Rose, Nelson (2003). Gambling and the Law: Status of Gambling Laws. California: Whittier Law School. MacMilan C. and Stone R., 2012, Elements of a Contract, London University Press. Atiyah P. S., 2000, An Introduction to the Law of Contract, Clarendon. Beatson J., 2010, A Burrows and J Cartwright, Anson’s Law of Contract. OUP (ed 29), London Press. McKendrick E., 2009, Contract Law (ed 4), Palgrave. Peel E. and Treitel G. H., 2011, Treitel on the Law of Contract (ed 13). Sweet and Maxwell. Simon D and Gillian M., 2005., Labour Law, UK. Department of employment and learning, 2004, Individual right of employees, Employment booklet series, UK. Mathews B., 2002, Employer Employee Relationship, Department of labor publications, UK. Wedderburn K. W., 1986, The Worker and the Law (ed 3), Harmondsworth, UK. The Sale of Goods Act, 1979 (online) Available at. Accessed at 9th July, 2014. The Consumer Credit Act-1974. Availabe at Accessed at 9th July, 2014.

Lady Marmalade essays

Lady Marmalade essays Wheres all mah soul sistas, Lemme hear yall flow sistas... Lady Marmalade seems like a song of four women proudly calling out to each other to praise their feminine capability of dominance and independence in society. The actual verses of this song reflect the combined attitudes of four prostitutes in Moulin Rouge. They are vocally expressing their proud choice of prostitution through a fictional character, Lady Marmalade, and her experience. This mainstream song has become a sensation on the airwaves. How can prostitution be such a favorable subject to sing about? The singers rave about Lady Marmalades experience as a prostitute and the power she has acquired by being one. But is prostitution morally ethical? I argue that it is not. By contrasting Lady Marmalades opinion of prostitution to my personal ethic I will pinpoint the negatives of prostitution and why it is unethical. A good starting point would be to define prostitution. Prostitution typically refers to a wide variety of sex-for-payment arrangements. Prostitutes range from the stereotypical street prostitute, with of without a pimp, to upscale call girl who operates out of her home or through an escort service (Peterson-Iyer,459). Lady Marmalade is struttin her stuff on the street when she says to a prospective client, Hello, hey Jo, you wanna give it a go? This verse is symbolic of her ability to choose who she wants. Prostitutes support their position by claiming that they are making a personal choice, an independent choice. We independent women, some mistake us for whores Im sayin why spend mine when I can spend yours... Choice is a critical aspect of humanity. Choice does not equal independence. A slave may be given the choice to work in the house or out in the field, and they ...

Discuss similarities and differences between the gestural behaviours of humans and non-human primates. The WritePass Journal

Discuss similarities and differences between the gestural behaviours of humans and non-human primates. Introduction Discuss similarities and differences between the gestural behaviours of humans and non-human primates. IntroductionReferencesRelated Introduction Gestural behaviour can be defined as spontaneous movements of the hands and arms which convey a meaning that is semantically and temporally in close synchrony with the flow of speech (McNeil, 1992).   Humans and non-human primates such as bonobos and chimpanzees (hereafter referred to as primates) share approximately 95% of the same DNA as humans (Pika, 2008).   Thus, investigating the gestures of humans and primates may provide insight into the evolution of human communication.   This paper provides an overview of the similarities and differences between the gestural behaviour of humans and primates, focusing on the brain regions employed; the pointing gesture and the degree to which gestures can be learned from conspecifics. Gestures activate the mirror neuron system (MNS) in the brain (Corballis, 2009).  Ã‚   That is, the same network of neurons is activated when performing a particular action or observing the same action being performed by another.   For instance in primates, the MNS is activated when either a monkey is cracking nuts open or observing another monkey cracking nuts (Kohler et al., 2002).   In humans, the mirror system is activated with actions and speech (Corballis, 2009). Willems, Ãâ€"zyà ¼rek Hagoort (2007) recruited humans in a functional Magnetic Resonance Imaging study to identify the neural networks involved in gesturing behaviour.   Participants underwent a series of matched and mismatched trials where semantic information was conveyed through speech and iconic gestures.   A matched trial is when gestures exhibit images expressed concurrently in speech and a mismatched trial is when gestures are incongruent with speech.   Results revealed that Broca’s area had significantly greater activation in the matched than in the mismatched trials.   Ã‚  Thus, Broca’s area increases in activation when information is simultaneously presented from the speech and action domains, compared to the speech domain alone. Furthermore, Taglialatela, Russell, Schaeffer and Hopkins (2008) recruited primates in a Positron Emission Tomography study to identify neural networks in gesturing behaviour. Primates took part in two tasks; one which induced vocal behaviour in the primates and another which induced vocal and gestural behaviour.   Results revealed more activation in the left inferior frontal gyrus and the prefrontal cortex during the vocal and gestural behaviour task than the vocal behaviour task.   This area is homologous to Broca’s area in humans (Corballis, 2009).   Taken together, these studies suggest similarities between humans and primates in terms of the shared neural region, Broca’s area; however, there are some differences with innate gestural acquisition. Pointing is a deictic gesture that is typically used as a communicative body movement which projects a vector from a body part to draw another person’s attention to an object or entity (Kita, 2003).   Ã‚  Canonical pointing at nearby targets begins in humans at approximately 11 months and at more distant targets at around 12 months (Morissette, Ricard, Gouin-Decarie, 1995).   Additionally, by 12 months, infants will typically check to establish whether they have the awareness of another person to share the focus of attention with prior to pointing (Cochet Vauclair, 2010).   Thus, pointing has been observed during early development with joint attention between the infant and the recipient, highlighting the deictic quality of the gesture. In wild primates, pointing has been rarely observed between conspecifics (Vea Sabater-Pi, 1998).   Instead, to share attention, wild primates typically orientate their whole body towards the desired object or entity (Menzel, 1974).   Nevertheless, successful pointing behaviour has been found in captive primates.   This was found serendipitously in a primate named Clint during testing, when on one occasion he was observed repetitively pointing with his index finger through the cage at a food reward, while alternating his gaze between the experimenter and the food (Leavens, Hopkins Bard, 1996).   This observation led to further experimental testing and vast reports of pointing in primates for food or objects (Meguerditchian Vauclair, 2009; Zimmermann, Zemke, Call Gomez, 2009). Liszkowski, Schafer, Carpenter and Tomasello (2009) compared 12 month old infants and primates, in pointing to a desired absent object.   The experimenter placed a highly desirable reward (e.g. a toy or food) in the target location and an undesirable reward (e.g. paper towels or bedding) in the alternative location for the participants to associate the target location with obtaining the highly desirable reward.   In the test condition, the experimenter waited for the participant to make a request.   If there were no request, the experimenter looked expectantly at the participant and touched both locations simultaneously.   The results revealed that 12 month old infants pointed to the absent target object location repeatedly and often before the trial started, but primates failed to point at all. Bullinger, Zimmermann, Kaminski Tomasello, (2011) compared the intention of the pointing gesture between primates and 25 month old children.   Participants undertook two tasks in which they could see the reward but the experimenter could not.   In one task, pointing would directly benefit the participant (e.g. to gain food or a toy reward) and in the other task, pointing would benefit the experimenter.   Ã‚  Results revealed that while children would point to benefit themselves and another person (i.e. experimenter), primates only pointed when it would benefit them.   This suggests that unlike 25 month old children, primates do not have cooperative motivation.   Taken together, this evidence suggests that while primates are able to point, this behaviour is significantly different from pointing behaviour in infants and young children, who are able to point at a present object, in addtion to an absent object or to help another person retrieve a reward. Another difference between humans and primates lies with the acquisition of gestures through social learning.   Social learning theory postulates that an individual learns by observing and imitating the actions of others (Franzoi, 2000).   Developmental research has shown that the mechanism for social imitation of manual gestures, such as tongue protrusions and sequential finger movement begins in infants between 12 to 21 days of age (Meltzoff Moore, 1977).   Meltzoff and Moore (1997) propose that imitation in infants is accomplished without any cognitive understanding using a mechanism which directly maps between perceptual input and motor output. Carpenter, Nagell and Tomasello, (1998) investigated infants aged between 9 and 15 months to find out when they understand the intention of their action.   Before being requested to turn a light on, infants received demonstrations of how to perform the task by depressing a switch with either their hands or head.   Results revealed that while all the infants copied the action, only those from 13 months checked to ensure the light came on and were producing the same goal as the adults.   This suggests that social learning in older infants is guided by goal directed behaviour. There is less evidence for the social learning of gestures within primates, with individual differences in the execution of gestures being found in primate communities (Pika, Liebal, Call Tomasello, 2005).   For instance, the ‘grooming handclasp’, which is where two primates hold hands overhead during mutual grooming has been found to vary between two different communities within the same subspecies of wild primates.   That is, intergroup differences have been observed in different communities with palm to palm touching and non-palm to palm touching, which indicates social learning amongst conspecifics within each community (McGrew, Marchant, Scott Tutin, 2001).   Nevertheless, in both communities, some primates failed to use the gesture at all. Laidre (2011) investigated the same subspecies of captive primates in 19 various communities worldwide.   Findings revealed that only primates in Colchester, England had a unique ‘eye covering’ gesture, where they would cover their eyes for extended periods of time, conveying a ‘do not disturb sign’ to the other primates.   This gesture was observed for over a decade despite births, deaths and removals.   Nevertheless, there was some individual variation in the performance of the gesture, with 32% of the primates raising their elbow in addition to covering their eyes.   Taken together, this evidence suggests that infants have an innate ability to learn gestures by means of a social learning mechanism, yet in primates, this is not the major learning process of gestures. In conclusion, humans and primates share the same neural region for processing gestural behaviour (i.e. Broca’s area).   However, there are some differences between the two species. Infant’s deictically point towards a present or absent desired object or entity, whereas primates rarely point unless they have acquired the behaviour from humans in order to achieve a variety of ends.   Additionally, primates, unlike children, only point when they benefit from a reward and fail to point to inform others.   This suggests that pointing is a unique, innate, human attribute which primates acquire whilst interacting with humans. Furthermore, infants from approximately 16 days old have shown social imitation gestures and from the age of 13 months, can use these gestures to guide specific behaviour towards a goal.   In primates however, there is less evidence to support the acquisition of gestures by means of social learning, with large variability of individual gestures existing in the same community.   Future research could investigate whether inter-zoo transfers translocate the unique eye covering gesture to a new community. References Bullinger, A., Zimmermann, F.,   Kaminski, J. Tomasello, M.   (2011).   Different social motives in the gestural communication of chimpanzees and human children.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Developmental Science, 14, 58-68. Carpenter, M., Nagell, K. Tomasello, M.   (1998).   Social cognition, joint attention, and communicative competence from 9 to 15 months of age.   Monographs of the Society for Research in Child Development, 63, 1–143. Cochet, H. Vauclair, J.   (2010).   Pointing gesture in young children: Hand preference and language development.   Gesture, 10, 129-149. Corballis, M.   (2009).   Language as gesture.   Human Movement Science, 28, 556-565. Franzoi, S.   (2000).   Social Psychology (2nd ed). New York: McGraw-Hill. Kita, S. (Ed.).   (2003).   Pointing: Where language, culture and cognition meet. Mahwah, NJ: Erlbaum. Kohler, E., Keysers, C., Umilt, M., A., Fogassi, L., Gallese, V. Rizzolatti, G.   (2002). Hearing sounds, understanding actions: action representation in mirror neurons. Science, 297, 846–848. Laidre, M.   (2011).   Meaningful gesture in monkeys? Investigating whether Mandrills create social culture.   Plus One, 6, 1-9. Leavens, A., Hopkins, D. Bard, A.   (1996).   Indexical and referential pointing in chimpanzees (Pan troglodytes).   Journal of Comparative Psychology, 110, 346 –353. Liszkowski, U., Schfer, M., Carpenter, M. Tomasello, M.   (2009).   Prelinguistic infants, but not chimpanzees, communicate about absent entities.   Psychological Science, 20, 654-66. McGrew, W., Marchant, L., Scott, S. Tutin, C.   (2001).   Intergroup diï ¬â‚¬erences in a social custom of wild chimpanzees: the grooming hand-clasp of the Mahale mountains. Current Anthropology, 42, 148–153. McNeil, D.   (1995).   Hand and Mind.   Chicago, CSU: The University of Chicago Press. Meguerditchian, A. Vauclair, J.   (2009).   Contrast of hand preferences between communicative gestures and non-communicative actions in baboons: Implications for the origins of hemispheric specialization for language. Brain and Language, 108, 167- 174. Meltzoff, A. Moore, M.   (1977).   Imitation of facial and manual gestures by human neonates.   Science, 198, 75-78. Meltzoff, A. Moore, M.   (1997).   Explaining facial imitation: A theoretical model. Early Development and Parenting, 6, 179–192. Menzel, E.   (1974).   A group of young chimpanzees in a one-acre ï ¬ eld: Leadership and communication.   In A. M. Schrier F. Stollnitze (Eds.), Behavior of Nonhuman Primates (pp. 83–153).   New York: Academic Press. Morissette, P., Ricard, M. Gouin-Decarie, T.   (1995).   Joint visual attention   and pointing in infancy: A longitudinal   study of comprehension.   British Journal of Developmental Psychology, 13,   163-177. Pika, S., Liebal, T., Call, J. Tomasello, M.   (2005).   The gestural communication of apes. Gesture, 5, 41-56. Pika, S.   (2008).   Gestures of apes and pre-linguistic human children: Similar or different? First Language, 28, 116-140. Taglialatela, P., Russell, L., Schaeffer, A. Hopkins, D.   (2008).   Communicative signalling activates ‘Broca’s’ Homolog in chimpanzees.   Current Biology, 18, 343-348. Vea`, J. Sabater-Pi, J.   (1998).   Spontaneous pointing behaviour in the wild pygmy chimpanzee (Pan paniscus).   Folia Primatologica, 69, 289-290. Willems, R., Ãâ€"zyà ¼rek, A. Hagoort, P.   (2007).   When language meets action:   The neural integration of gesture and speech.   Cerebral Cortex, 17, 2322-2333. Zimmermann, F., Zemke, F., Call, J. Gà ³mez, J.C.   (2009).   Orangutans (Pongo pygmaeus) and bonobos (Pan paniscus) point to inform a human about the location of a tool. Animal Cognition, 12, 347–358.

Building Management Systems Essay Example

Building Management Systems Essay Example Building Management Systems Essay Building Management Systems Essay Essay Topic: To Build a Fire A BMS consists of software and hardware; the software program, usually configured in a hierarchical manner, can be proprietary, using such protocols as C-bus, Profibus, and so on. Vendors are also producing BMSs that integrate using Internet protocols and open standards such as DeviceNet, SOAP, XML, BACnet and Modbus. A BMS is most common in a large building. Its core function is to manage the environment within the building and may control temperature, carbon dioxide levels and humidity within a building. As a core function in most BMS systems, it controls heating and cooling, manages the systems that distribute this air throughout the building (for example by operating fans or opening/closing dampers), and then locally controls the mixture of heating and cooling to achieve the desired room temperature. A secondary function sometimes is to monitor the level of human-generated CO2, mixing in outside air with waste air to increase the amount of oxygen while also minimising heat/cooling losses. Systems linked to a BMS typically represent 40% of a buildings energy usage; if lighting is included, this number approaches 70%. BMS systems are a critical component to managing energy demand. Improperly configured BMS systems are believed to account for 20% of building energy usage, or approximately 8% of total energy usage in the United States. As well as controlling the buildings internal environment, BMS systems are sometimes linked to access control (turnstiles and access doors controlling who is allowed access and egress to the building) or other security systems such as closed-circuit television (CCTV) and motion detectors. Fire alarm systems and elevators are also sometimes linked to a BMS, for example, if a fire is detected then the system could shut off dampers in the ventilation system to stop smoke spreading and send all the elevators to the ground floor and park them to prevent people from using them in the event of a fire. In this report it is discussed the building management system (BMS) implemented in Administration Building of Trelleborg Lanka (Pvt) Ltd. It is a distributed control system with a computerized network of electronic devices. The BMS was setup is to control, monitor and optimize building service such as Lighting, Air conditioning, Fire security, CCTV system, etc. Main objectives were as follows. ? Good control of internal comfort conditions ? Zonal control ? Increased staff productivity ? Effective monitoring and targeting of energy consumption ? Effective response to HVAC-related complaints ? Flexibility on change of building use ? Central control and monitoring of building ? Time saving ? Low operating cost ? Efficient use of building resources and services Rapid alarm indication and fault diagnosis Systems linked to the BMS represent 80% of a buildings energy usage. Fire alarm systems and elevators are also linked to the BMS, for example, if a fire is detected then the system could shut off dampers in the ventilation system to stop smoke spreading and send all the elevators to the ground floor and park them to prevent people from using them in the event of a fire. The BMS comprises: ? Power system ? Li ghting system ? Heating, Ventilation and Air-conditioning system ? Security system Fire alarm system ? Elevators etc. 2. 0 SENSOR AND ACTUATORS USED ? Temperature Transducers [pic] [pic] ? Pressure sensors [pic] [pic] ? Humidity Sensor ? Differential Pressure sensors [pic] [pic] [pic] [pic] ? Humidity Transducers [pic] [pic] [pic] [pic] ? Level sensors ? CO2 sensor ? Flow Meter ? CCTV Cameras ? Light sensors ? Occupancy sensors ? Water Pumps ? Valve actuators ? Fans 3. 0 DETAILS OF CONTROLLERS/DDC USED Inputs allow the controller to read temperatures, humidity, pressure, air flow, and other essential factors. The outputs allow the controller to send command and control signals to slave devices, and to other parts of the system. Inputs and outputs are digital or analog. The BMS is facilitated with a System/Network controller as this is a Supermarket/Office building. System controllers provide general purpose feedback loops, as well as digital circuits. System/Network controllers are applied to control more mechanical systems such as an Air Handler Unit (AHU), boiler, chiller, etc. Terminal Unit controller is used for control of lighting. |POINT SCHEDULE -BUILDING AUTOMATION SYSTEM (TRELLEBORG LANKA (PVT) LTD |   |   |   |   |   |   | | | | | |DIGITA|DIGITA|ANALOG |ANALOG| | | | | | |L |L |INPUT |OUTPUT| | | | | | |INPUT |OUTPUT| | | | | | | | |DI |DO |AI | |   |   |   |   |   |   |   | |   |   |   |   |   |   |   | |   |   |   |   |   |   |   | |   |   |   |   |   |   |   | | | | | | | | | [pic] 4. 0 SOFTWARE, GUI AND COMM UNICATION PROTOCOLS USED Open protocols were used. ? DeviceNet ? XML ? simple graphical interface 5. 0 DRAWBACKS OF THE SYSTEM ? Confusion is higher about responsibility of errors and faulty point identification when things go wrong since the open protocols were used. ? More than one points of contacts for any problem with BMS. ? Software and hardware was provided by different manufactures according to the requirements indicated in the point schedule. 6. 0 DISCUSSION The BMS implemented in Administration Building of Trelleborg Lanka (Pvt) Ltd comprises above mentioned mechanical and electrical services in order to provide the facilities necessary for maintaining a comfortable working environment. Basic controls took the form of manual switching, time clocks or temperature switches that provide the on and off signals for enabling pumps, fans or valves etc. The purpose of the Building Management System (BMS) was to automate and take control of these operations in the most efficient way possible for the occupiers, within the constraints of the installed plant. The BMS is a â€Å"stand alone† computer system that calculates the pre-set requirements of the building and control the connected plant to meet those needs. Its inputs, such as temperature sensors and outputs, such as on/off signals are connected into outstations around the building. Programmes within these outstations use this information to decide the necessary level of applied control. The level of control via the BMS is dependent upon the information received from its sensors and the way in which its programmes tell it to respond to that information. As well as offering a precise degree of control to its environment, it can be made to alarm on conditions that can’t meet specification or warn of individual items of plant failure. Occupancy times for different areas are programmed into the Building Management System such that the plant is brought on and off to meet the occupier requirements. These times are often under optimum start control. This means that the chilled water pumps, AHU, etc are enabled, at a varying predetermined time, to ensure that the cooled space is at the set desired temperature for the start of the day. The Building Automation System therefore, based on the outside air temperature the space temperature and the building structure, determines the AC plant start time. Occupied, Unoccupied are the two operating modes for the building automation system. Occupancy is usually based on time of day schedules. In Occupancy mode, the BMS aims to provide a comfortable climate and adequate lighting, often with zone-based control so that users on one side of a building have a different thermostat than users on the opposite side. A temperature sensor in the zone provides feedback to the controller, so it can deliver cooling as needed. Lighting can be turned on and off with the building automation system based on time of day by occupancy sensors and timers. One typical example is to turn the lights in a space on for a half hour since the last motion was sensed. A photocell placed outside a building can sense darkness, and the time of day, and modulate lights in outer offices and the parking lot. Air handlers mix return and outside air so less temperature change is needed. This can save money by using less chilled water. Some external air is needed to keep the buildings air healthy. Analog temperature sensors have been placed in the space, the return and supply air ducts. Actuators are placed on chilled water valves, the outside air and return air dampers. The supply fan is started and stopped based on temperatures and building pressures combination. The constant volume air handling unit, are used. CAVs open and close dampers and water-supply valves to maintain temperatures in the buildings spaces. They cool the spaces by opening or closing chilled water valves that feed their internal heat exchangers. Generally one CAV serves several spaces. Chilled water is used to cool a buildings air and equipment. The chilled water system has two chillers and pumps. Analog temperature sensors measure the chilled water supply and return lines. The chillers are sequenced on and off to chill the chilled water supply. Two cooling towers and pumps are used to supply cool condenser water to the chillers. The condenser water supply to the chillers has to be constant so, speed drives are used on the cooling tower fans to control temperature. Proper cooling tower temperature assures the proper refrigerant head pressure in the chiller. Analog temperature sensors measure the condenser water supply and return lines. The building automation system has alarm capabilities. If an alarm is detected, it is programmed to notify someone. Notification is through a computer and audible alarm. Fire and smoke alarm systems are hard-wired to override building automation. The hot water system supplies heat to hot water heating coils. The hot water system has a boiler and pumps. Analog temperature sensors are placed in the hot water supply. The boiler and pumps are sequenced on and off to maintain supply. Name : A. P. W. Jayasekara(09/8660) P. G. C. Karunathilake(09/8663) W. M. A. S. Wijethunga(09/8678) T. N. Walpita(09/8676) Course : MSc in Electrical Engineering-Department of Electrical Engineering, University Of Moratuwa. Lec. By : Prof. Lanka Udawatta. Date : 2010-08-14 ASSIGNMENT Building Management System – EE5118

Air legislation Assignment Example | Topics and Well Written Essays - 2000 words

Air legislation - Assignment Example Moreover, the information indicates whether it is right to operate the aircraft within the recommended safety conditions. The other purpose of the information is whether the aircraft meets the recommended operating rules. The chief-inspections officer in the aviation industry is entitled to certify the technical log. All the data in the technical log is recorded in two pages of a form. The front part of the paper is the original one while the other part is made a carbon copy onto the black sheet. In most cases, the front pert of the technical log comprises of there identical sections. These sections, which are â€Å"tear-off†, are used to record the maintenance performed on the particular aircraft. An authorized official employed by an aircraft industry makes the recordings of all the maintenance performed. Moreover, the official is entitled to record the release-to-service. The top page or sheet of the technical log is usually removed. The sheet is forwarded to the administration where it is kept in the aircraft logbooks. The other part, which is the carbon copy imprinted on the original paper is kept of the technical log folder. This part helps in informing the flight crew about the aircraft maintenance status relating to the aircraft. The operators of the aircraft are normally the ones who create the maintenance schedule. The main purpose of the maintenance schedule is that it allows pilots to understand the condition of the aircraft prior to flight. The review board of the organization is that one entitled to make approval on the maintenance schedule. Moreover, it is recommended that a member of the aviation administration to be present while making the approval of maintenance schedule. Various types of maintenance checks are employed on the maintenance schedule. In most cases, the maintenance schedule comprises of four checks. The first

Personal School Health Education School Essay Example | Topics and Well Written Essays - 1250 words

Personal School Health Education School - Essay Example From the discussion it is clear that children who are without parental care are prone to violence, drug abuse, exploitation, and educational problems as well as HIV/AIDS infection. School based child protection program is a program designed to responds to children’s social, economical and development needs. One of the basic needs of children is the right to good health and provision of health care services. As the paper declares personal School Health Education provides a basic understanding and responds to the health needs of children. Poverty is the major challenge facing this program as it exposes children to the world as a vulnerable society. The world human rights laws protect children from harmful work and economic exploitation. It states that all children are entitled to provision of education and health services regardless of the economic status of the country or community. In this case, children education is mandatory in every country all around the world. Personal School Health Education has been introduced in the education curriculum to provide guidelines in the provision of children health service. Social and emotional wellbeing is an important as aspect in the growth of children as it directly affects physical health. Good emotional, psychological and social health protects children against emotional and behavioural changes. Emotional and social wellbeing are influenced by a various factors which are individual make-up, community and family background. Healthy education development Personal School Health Education helps in the development of a healthy environment for the growth of young people. Staying healthy entails the understanding of a person’s emotional being and maintaining healthy eating habits. The health of a person influences his or her education prospects. A healthy body promotes a positive state of mind that supports understanding thus positively influences education. Tutor groups Tutor group is a section in the Personal School Health Education that helps in the creation of a positive and healthy learning environment. It promotes the wellbeing of a person as it creates positive understanding of the person’s health status and also provides guidelines on how to live healthily. The basic idea of the introduction of tutor groups in the Personal School Health Education program was to foster the application of theoretical skills i nto practical life. The concept of group ideology helps in the sharing of experiences thus present theoretical education in a practical format. It also helps to monitor the health and wellbeing of children as a tutor is assigned a small group of children whom he or she monitors their health progress during the education program. Tutor groups help in the rating of the program’s capability in enhancing health and wellbeing of young people and their development at large. Behavior Management School systems are experiencing a climate of change towards the behavioral norms upheld by children and students. These changes enable students to think comprehensively about ways in which they can contribute to the society in a healthy manner that reflects their positive perspectives. Such is with the introduction of the Personal School Health Education (PSHE); a program enabling schools contribute to the well-being of the

Models of Integration and Architecture Research Paper

Models of Integration and Architecture - Research Paper Example Models Viability Enterprise modeling is one of the architectural modeling that is very important in an organization. It has the character of having the basic knowledge about the enterprise and previous models about the same type of enterprises together with new ideas. This helps the organization to have a high propelling factor and gives the management team the ability to understand their duties in order to run the enterprise effectively. This model is endowed with the knowledge of giving any organization the way through by ensuring there are enough of resources, information, goals and activities to perform in order to ensure continuity (Bubenko, 2009). This model can be mostly used in marketing an organization or can apply to organization which offers consultant services to other organization to ensure their success. The design of an enterprise is given by this important factor of enterprise modeling because it gives the explicit language that defines the enterprise. When the modeli ng design is introduced in an organization, it gives the organization the morale to perform its duty, because every one working in the organization will have a good understanding of his duties in the organization (Frank, 2009). It also helps the organization to gain a large market share and have a large profit margin. This improves the structural shape of the organization leading to its growth and expansion. Functional modeling is the other modeling design that will align the steps to be followed in product manufacture. This gives the guidelines on how raw materials are turned into finished goods. This is the backbone of every organization because it is the sector that generates goods sold to customers. This means that this part of production should be taken seriously so as to give quality products that will not be rejected by customers, because when they are rejected they bring a major loss to the organization. When such losses appear in an organization they might lead to the closu re of the organization. This is also the model that controls the finances of an organization. It is the body that is concerned with purchasing the raw materials, refining the raw materials to finished goods and marketing the goods to the customers. These organization departments are very important and if not well managed, they can cause a down fall of the organization. The departments arrange for the human resource and control every activity that is undertaken in the organization (Bubenko, 2009). The end of each department in an organization should ensure that he provides policies and procedures to govern daily operation. Barriers Leading to Lack of Adoption of the Models The major barriers in adopt such models in an organization include lack of finances, poor management strategies in an organization, lack of raw materials and lack of skilled personnel. Lack of finances is a major factor that can result to poor or failure to implement of these models in an organization, because they require a lot of cash to be fully implemented. Lack of management leads to poor utilization of organizational resources leading to lack of resources to run the organization, which can not only lead to lack of adoption of the models but also can lead to the closure of the organization like Cleveland clinic (Dietz, 2010). Resources that are required for production in an organization are very important for the growth of the organization (Frank, 2009). These are the raw materials which give the organization

Assignment 1 Essay Example | Topics and Well Written Essays - 500 words - 7

Assignment 1 - Essay Example Putting these skills into practice is a factor that will help the United States move ahead and maintain its high position economically. Over the past years, countries like Russia and China have had steady economic growth rates, and this has posed as a challenge to the United States. The United States ought to understand the various steps taken by the countries to have them at the position that they enjoy and the consequent result of this is implementation of plans that will see the country register a rise in general growth. Demographics is also critically analyzed in the chapter. According to the United States census, it has had a steady increase in the birthrate from the 1970s (CEA 122). The increase in birthrate has had a negative effect on the working population. One way in which this has affected them is that many people and especially mothers have had to leave their works to carry out their maternal responsibilities and this has led to the slowing down of their corporate responsibilities. This is negative from the fact that other countries that do not have such a birthrate have their citizens working tirelessly to support their families and consequently catching up with the economic stature of the United States. The demographic problem has had its effect reflected in the prime working age. With an increase in population, the prime working age for a particular location is bound to decrease. Currently, the rate is between 25 to 54 years (CEA 122). It is speculated that if the birthrate continues increasing at the rate in which it has increased over time, the prime working age gap is bound to decrease and this has the consequent effect of having less labor. With less labor, there is a decrease in the amount of money that individuals bring into a company or organization. This has the effect of having the country in a poor economic position with the citizens having low living standards and the country lagging

Time Management Research Paper Example | Topics and Well Written Essays - 2000 words

Time Management - Research Paper Example Notably, time is constant and scarce and hence this topic seeks to define the need and methods that help college students to develop effective strategies to manage their time for purposes of balancing the conflicting demands of study time, working hours, leisure time, and other endeavors that limit study time. In college education, time management is significant in revising for examinations, attending lectures, and participating in sporting activities. I chose this topic because traditional students always lack enough time to do everything they need in college. As such, this topic will inform the students on the need and methods of planning and controlling the amount of time spent on certain activities with an aim of increasing the efficiency and effectiveness of their academic pursuit. This topic is significant in that it informs the students on the benefits of proper time management as well as the academic problems. Proper time management in college may involve future planning, monitoring the allocation of available time, goal setting, and prioritizing tasks. Numerous tools, skills, and techniques will help the students to accomplish their goals and tasks within the set deadlines. Such methods may include goal setting, prioritizing tasks, monitoring the academic pursuit, creating a list, organizing a work schedule, and limiting procrastination. Through effective time management, college students will enjoy certain benefits that may include good performance, establishing conducive learning environment.

IKEA and Fantastic Furniture Research Paper Example | Topics and Well Written Essays - 1500 words

IKEA and Fantastic Furniture - Research Paper Example The key success factors desirable for such success is the provision of quality and value for customers’ money, understanding the market and targeting advertisements to perceived needs of the markets and provision of an outstanding customer service to the customers. Though IKEA and Fantastic furniture are similar in many ways, they differ in design of products where IKEA emphasizes on flexibility and portability of the furniture, thus, producing self-assembled furniture while Fantastic furniture mostly produces pre-assembled ones. Backward integration and increased productivity are recommended for the two companies, in order to be able to meet the projected increase in furniture demand. Table of Contents Background and Introduction IKEA is a privately owned international company that sells home products that can be assembled, such as home appliances and accessories, beds, and desks (Coker, 2005). The company was founded in 1943 by a 17-year-old Swedish, with the name of the com pany derived from his name and place of origin. The company ranks as the world’s largest retailer of furniture (Dennis, 2008). There are notable strengths that the company has been credited with. Its ability to control costs allows it to offer continuously lower prices for its products. The company is also known for its attention to operational details, allowing it to improve continuously the products it offers to its customers. These strengths have seen the company continuously advance, and expand to different countries in the world (Stroman, 2003). The company comprises of a group of companies that are centrally controlled by a Dutch corporation. The company provides its customers with 12,000 different products and is the third largest consumer of wood in the world (Ben, 2009). The company adopts environmentally friendly manufacturing process to ensure it preserves the environment. Fantastic furniture, on the other hand, was started in 1991 by two founders, Harding and Dejo ng. The company started as a stall that was selling plastic garden furniture, and later, the first of their store was opened at Birkenhead point (Johnson, 1983). In 1992, the company opened the first Fantastic Factory Lounge and in 1995, the Fantastic metal factory was established. The company owes its success to some strength it possessed from its inception. The company indulged in clever advertising, while at the same time improving its products and processes continuously. This way, the company has been able to expand its operations and grow to a large furniture retailer. The company’s growth rate was so high, that the founders were unable to manage this growth. Consequently, they invited other directors who had experiences in handling growth in a new business, effectively increasing the number of company’s director to five (Greenblat, 2010). In 1997, the company opened its first import department, which has been responsible for the sale and distribution of the compa ny’s products to a tune of 50%. The company has expanded its operations to have many other branches in Australia, later transferring its Fantastic Lounge factory to a different location to accommodate the increased production capacity, in 2006. With its growth and expansion, the company acquired a mattress producing company to suffice the mattress requirement of the company in the same year (Ben, 2009). Literature review A furniture retail business should be the most successful business ever running. This is because every day someone needs

Assignment 1 Essay Example | Topics and Well Written Essays - 500 words - 7

Assignment 1 - Essay Example Putting these skills into practice is a factor that will help the United States move ahead and maintain its high position economically. Over the past years, countries like Russia and China have had steady economic growth rates, and this has posed as a challenge to the United States. The United States ought to understand the various steps taken by the countries to have them at the position that they enjoy and the consequent result of this is implementation of plans that will see the country register a rise in general growth. Demographics is also critically analyzed in the chapter. According to the United States census, it has had a steady increase in the birthrate from the 1970s (CEA 122). The increase in birthrate has had a negative effect on the working population. One way in which this has affected them is that many people and especially mothers have had to leave their works to carry out their maternal responsibilities and this has led to the slowing down of their corporate responsibilities. This is negative from the fact that other countries that do not have such a birthrate have their citizens working tirelessly to support their families and consequently catching up with the economic stature of the United States. The demographic problem has had its effect reflected in the prime working age. With an increase in population, the prime working age for a particular location is bound to decrease. Currently, the rate is between 25 to 54 years (CEA 122). It is speculated that if the birthrate continues increasing at the rate in which it has increased over time, the prime working age gap is bound to decrease and this has the consequent effect of having less labor. With less labor, there is a decrease in the amount of money that individuals bring into a company or organization. This has the effect of having the country in a poor economic position with the citizens having low living standards and the country lagging

IKEA and Fantastic Furniture Research Paper Example | Topics and Well Written Essays - 1500 words

IKEA and Fantastic Furniture - Research Paper Example The key success factors desirable for such success is the provision of quality and value for customers’ money, understanding the market and targeting advertisements to perceived needs of the markets and provision of an outstanding customer service to the customers. Though IKEA and Fantastic furniture are similar in many ways, they differ in design of products where IKEA emphasizes on flexibility and portability of the furniture, thus, producing self-assembled furniture while Fantastic furniture mostly produces pre-assembled ones. Backward integration and increased productivity are recommended for the two companies, in order to be able to meet the projected increase in furniture demand. Table of Contents Background and Introduction IKEA is a privately owned international company that sells home products that can be assembled, such as home appliances and accessories, beds, and desks (Coker, 2005). The company was founded in 1943 by a 17-year-old Swedish, with the name of the com pany derived from his name and place of origin. The company ranks as the world’s largest retailer of furniture (Dennis, 2008). There are notable strengths that the company has been credited with. Its ability to control costs allows it to offer continuously lower prices for its products. The company is also known for its attention to operational details, allowing it to improve continuously the products it offers to its customers. These strengths have seen the company continuously advance, and expand to different countries in the world (Stroman, 2003). The company comprises of a group of companies that are centrally controlled by a Dutch corporation. The company provides its customers with 12,000 different products and is the third largest consumer of wood in the world (Ben, 2009). The company adopts environmentally friendly manufacturing process to ensure it preserves the environment. Fantastic furniture, on the other hand, was started in 1991 by two founders, Harding and Dejo ng. The company started as a stall that was selling plastic garden furniture, and later, the first of their store was opened at Birkenhead point (Johnson, 1983). In 1992, the company opened the first Fantastic Factory Lounge and in 1995, the Fantastic metal factory was established. The company owes its success to some strength it possessed from its inception. The company indulged in clever advertising, while at the same time improving its products and processes continuously. This way, the company has been able to expand its operations and grow to a large furniture retailer. The company’s growth rate was so high, that the founders were unable to manage this growth. Consequently, they invited other directors who had experiences in handling growth in a new business, effectively increasing the number of company’s director to five (Greenblat, 2010). In 1997, the company opened its first import department, which has been responsible for the sale and distribution of the compa ny’s products to a tune of 50%. The company has expanded its operations to have many other branches in Australia, later transferring its Fantastic Lounge factory to a different location to accommodate the increased production capacity, in 2006. With its growth and expansion, the company acquired a mattress producing company to suffice the mattress requirement of the company in the same year (Ben, 2009). Literature review A furniture retail business should be the most successful business ever running. This is because every day someone needs