The Study Of Motivation In Sport Physical Education Essay

The Study Of Motivation In Sport Physical Education Essay This audited research is on inspiration in sport. An assortment of definitions and ways to deal with the investigation inspiration will be examined. One of the types of inspiration being examined will be inherent and extraneous inspiration. Inherent inspirations are significant for advancing fulfillment and long haul support in sport. There are three hypothetical ways to deal with the investigation of characteristic inspiration: social, psychological, and persuasive. Scientists have discovered that the natural inspiration of competitors appears to be critical for long haul contribution, and calibrated execution in sport. Extraneous inspiration alludes to inspiration that originates from outside a person. The propelling components are outer, or outside, prizes, for example, cash or evaluations. These prizes give fulfillment and joy that the assignment itself may not give. Another type of inspiration has to do with sex. Explores have verified that there are inspirational contrasts amon g male and female games. Its likewise been resolved that male and female competitors have various qualities and shortcomings inside the persuasive atmosphere. Some point by point contrasts expressed were that men had more elevated levels of inspiration in rivalry, social affirmation, quality and perseverance, where ladies had more grounded inspiration to control weight. The last factor I will cover is social impact on inspiration. Prologue to your Research Topic Deci, et al. (1999) express that natural inspiration can likewise be upgraded by expanding a people view of independence and ability. Deci, et al. (1999) additionally demonstrated that examination bolstered the possibility that extraneous inspirations sway on inborn inspiration was affected by the controlling idea of those outward rewards. For example, positive criticism that isn't viewed as controlling would probably add to a people apparent capability and positively affect their inborn inspiration. Vallerand (2000) takes a gander at inspiration in a multidimensional way that envelops more than the polarity of inborn and extraneous inspiration. He expresses that inspiration for both is on a continuum that ranges from a high to low level of assurance and that works on three particular levels: worldwide (ones in general inspiration), logical (in a particular area or field, for example, instruction or sports), and situational (the present time and place). At every one of these levels people can have diverse inspiration levels (both inborn and outward). For instance, one could be exceptionally inherently persuaded to partake in sports, yet less naturally roused with respect to training (logical). In any case, if an individual is feeling sick or tired, they might not have the equivalent characteristic inspiration to partake in sports exercises that day (situational). Extraneous prizes could be applied to both and affect situational inspiration in both the short and long haul. For instance, that individual may be profoundly energetic to excel on a test and get a passing mark (extraneous inspiration) so they can be qualified to play on their games group (natural inspiration). Vallerand (2000) proposes that rehashed d egrees of low degrees of situational natural inspiration will probably have a reducing impact on the bigger logical natural inspiration. He features research done on inspiration to play ball where characteristic persuasive levels were influenced by situational persuasive levels during competition games. This examination has numerous ramifications for associations and instructive circumstances. While understanding that outward inspiration is one of the fundamental drivers of the business world, remuneration and other impetus bundles need to address their effect on characteristic inspiration and be created in manners that will decrease the unfavorable effects or conceivably even add to the natural persuasive levels. More examination on genuine circumstances would be valuable. Foundation of the Research Topic Inspiration in sports and exercise has been concentrated throughout the only remaining century yet just in ongoing decades has inspiration by sexual orientation been broke down. concentrates in the territory of inspiration by sexual orientation in these games and exercise fields: individual and group activities and exercise, hand to hand fighting, b-ball, volleyball, olympic style events, and general games investment and exercise (Kilpatrick, Hebert, Bartholomew, 2005). These outcomes were the most predictable all through the reports with different likenesses and contrasts noted with each examination. Natural and outward inspiration are both versatile and change in light of explicit circumstances and life events. While difficult to characterize, natural inspiration can be portrayed as an inside drive to play out a movement. While outward inspiration is attributed to an outside propelling source that drives activity. It is proposed that individuals ascribe their conduct either to an interior or outer source. Natural inspiration associates decidedly to when individuals characteristic their inspiration to inner sources, while outward inspiration is associated to confidence in an outer hotspot for their conduct (Wiersma, U. J., 1992). Extraneous inspiration, by definition, is variable since it is an outer help one can change the prize or outside source (for example measure of cash extended to do an employment opportunity, input on execution, and so on.). Meta-examination of inborn and outward persuasive exploration by Deci, Koestner and Ryan (1999) found that inherent inspiration is adversely influenced when unmistakable extraneous inspiration is joined to the conduct. This sabotaging of inborn inspiration is hypothesized to be the aftereffect of an apparent decline in self-sufficiency and competency by the individual getting the extraneous prize. Self-assurance Theory expresses that people have three inalienable needs: self-governance, ability, and relatedness. Of these, self-sufficiency and skill are the primary drivers of inborn inspiration (Franken, 2002). Therefore we see that natural inspiration can be changed by including an extraneous persuading segment. Inspiration is an essential factor inside the game and exercise field. Getting what and how inspiration functions is similarly significant. In light of these surveys sexual orientation likewise assumes a job inside the inspirational atmosphere. Studies have uncovered varieties in inspirational factors inside every sexual orientation. In Chie-der, Chen, Hung-yu, and Li-Kangs diary 87 male and 87 female b-ball players from the HBL were chosen for the exploration. Four exploration surveys were utilized to quantify four marvels: members objective direction, the persuasive atmosphere they saw, saw individual athletic capacity, saw individual game related certainty (Chie-der, Chen, Hung-yu, Li-Kang,2003). Utilizing a t test sex contrasts were recognized. Guys would in general record higher scores than females for sports related certainty factors. Guys scored higher inside personality direction, saw capacity, and in physical execution. Females would in general score higher in task direction , saw task atmosphere, and initiative styles (Chie-der, Chen, Hung-yu, Li-Kang,2003).â Various examinations have analyzed the topic of whether there are contrasts in youth thought processes across sports, age, sexual orientation, and culture and propose that youngsters or teenagers are dependent upon the ecological impacts in their inspiration to take an interest in certain physical exercises. In this manner, researching the assorted varieties in inspiration of support may reveal insight into the basic reasons of why kids or teenagers participate in different types of physical action or sports. Effect on sports Sex: In Kilpatrick, Hebert, Bartholomews study 233 understudies were examined, 132 ladies, 101 men. The reason behind this examination was to analyze sports interest and exercise inspiration through a profoundly separated size of physical action. The subsequent goal was to explore the effect of sexual orientation on inspiration. This examination verified that men were all the more exceptionally energetic then ladies when it arrived at perseverance and quality, social acknowledgment, challenge, and most outstandingly rivalry, where ladies were increasingly persuaded by weight the executives (Kilpatrick, Hebert, Bartholomew, 2005). It was additionally recommended in this investigation that inspirations to take part in sports contrasted from sparks to participate in work out. It was likewise noticed that a greater amount of the wellbeing related intentions were connected to practice contradicted to sports interest consequently showing that sports cooperation are all the more firmly identifie d with characteristic thought processes. It was recommended that dependent on these discoveries that men inclined all the more near inborn inspiration then ladies. This examination further inferred that men saw exercise and wellness open doors as a way to accomplish self image related objectives that help their games cooperation where as ladies appeared to appreciate exercise and sports support similarly (Kilpatrick, Hebert, Bartholomew, 2005). In Murcia, Gimeno, and Colls study 413 competitors finished an apparent persuasive atmosphere in sports poll. The example was contained 322 young men and 91 young ladies, sports included individual and group activities. This examination utilized the MANOVA to break down the impacts of sexual orientation, objective directions, and impression of inspirational atmosphere and its stream. The discoveries indicated that guys had a more grounded self image direction that all the more explicitly included discipline for mistakes at that point did females. Females were progressively disposed to distinguish a persuasive atmosphere orientated towards learning (Murcia, Gimeno, and Coll,2008). In Jones, Mackay, and Peters diary 17,463 members took an interest in a survey. This investigation contrasted from the others in this survey. It noticed no huge sex contrasts, it additionally noticed that the four most significant inspirations for both male and females were connection, wellness, aptitude advancement, and kinship, this contradicted to the three least powerful sparks which were reward/status, situational, and co

The Ethics Of Outsourcing At Mattel

Moreover, this article will address how corporate culture assumed a job in the choice to re-appropriate the assembling procedure to offices, which were not observing lawful guidelines. Watchwords Matter, corporate culture, morals, Fraud, item wellbeing. Harden Classification MIM. BRB/BRB/Introduction/Corporate culture is characterized as the mutual qualities and/convictions of people inside an association (Statistics/and Satanist, 2009). Corporate culture is a significant/length colleague/acknowledgments to inspect when scientists endeavor to clarify dishonest conduct inside an organization.Previous look into in the territory has essentially centered around the positive perspectives culture that is identified with firm execution (Deal and Kennedy, 1982 Peters and Waterman, 1982 Dimension, 990). It is additionally critical to considerer/BRB/that the corporate culture can have negative effect handle/a firestorms tasks if the way of life bolsters deceptive and/criminal operations. This investigation looks at how one organization, Matter, built up a culture which permitted the unscrupulous and illicit activities of its providers to adversely influence its tasks. R/BRB/focused uniquely on the low cost of creation of the Chinese providers. By permitting the quality norms to drop to conceivably hazardous levels, Matter manageress/concentrated distinctly on their own personal circumstances since their/container cohort/spermatozoon was legitimately connected to the money related execution of Matter. Along these lines, Matter directors disregarded potential wellbeing issues with the creation of the toys in China since lower levels of creation sphere/BRB/greater expenses per unit would have an immediate effect handle/their all out degree of salary for the year.As an outcome, Tiber/doesn't make a difference whether the absence of value controls/were conscious or not. Since Amateurism's name goes handle/the last item, its directors were responsible forbs/the activities of t heir providers (Hegiras and Sims, pay off/Shanghaiing and Vital, 1990 Granite, 2003). BRB/1. The principal review of toys/In 2006, 75 percent of all toys produced overall originated from China. Inside China, one region, Gudgeon, is the area of 5,000 of Chinaware's 8,BRB/length schoolmate/Spartan assembling plants.It is assessed that 1. 5 million specialists are utilized in Gudgeon toys make (McLeod, 2006). Matter makes around 65 percent of its toys there. The partnership states tabor/BRB/it requests that the toys that are re-appropriated to other/makers must conform to the security measures/set up by Matter. Crude materials that would brew/utilized by a redistributed producer are first sent Toby/the Matter control office so as to check they matter/all security standards.Matter has been fabricating innate/China since the first Barbie was made there in 1 959. BRB/The organization has built up various longer/standing associations with China manufacturers,BRB/which may have lead to prog ressively loosened up observing and/control of its activities (Story, 2007). Furthermore,BRB/Matter was a significant client for these providers, so Tiber/ought to have total authority over the assembling/break as it identifies with the degree of value and consistence with government guidelines and standards.However, Amateurism's top level chiefs appeared to lager/BRB/On August 1, 2007, Matter needed to review right around 1. BRB/million toys that were made in China. More than 80 toys/contained possibly risky degrees of lead in thebe/paint on the toys. Quite a while provider of Matter had/range cohort/punished non-endorsed paint shade which disregarded Amateurism's and the toy productively principles (Bugaboos, 2007). On August 2, 2007, Matter gave a public statement where it clarified its course f activity to address the problem.Matter worked with the U. S. Shopper Product Safety Commission and other administrative organizations around the globe to pull the toys off the racks and e nd the conveyance of any toy that contained the unsuitable degrees of lead. Robert Cocker, Chairman and CEO expressed that liquored apologize to everybody influenced by this review, particularly the individuals who purchased the toys in questioningly understand that guardians/BRB/trust us with what is generally valuable to environmentally/kids. What's more, we additionally perceive that trust is earned. R/we will likely address this issue, improve circle/yester and keep up the trust of the families tabor/have permitted us to be a piece of their lives by acting/dependably and rapidly to address their conquistadors/(Matter, 2007). BRB/Sarah D. Satanist, Peter A Satanist, 2010. BRB/This review was regardless of the way that Matter was rabbet/of the potential lead danger in any event a month earlier,BRB/BRB/Problems and Perspectives in Management, Volume 8, Issue 4, 201 For/BRB/when one of the European retailers that sold Matter/items toward the beginning of July found lead in a portion of its/toys.On July 6, 2007 Matter halted creation intrinsic/he manufacturing plant, which they accept was the starting point of thebe/lead paint. Remarking on the provider utilizing thebe/lead paint, CEO Chart expressed this was a provider which had worked for Matter for 1 5 years and lectureships question someone that just begun making toys/length colleague/support crawled comprehend our guidelines, they comprehend our program, and something turned out badly. That Herodotus. It is a necessity built up by Matter that those re-appropriated plants making Matter toys must utilize paint and other material from guaranteed suppliers.As an outcome, Matter was uncertain about whether the producer bustiest paint from bar/BRB/provider who was not affirmed or whether the pioneer/paint originated from a confirmed provider. In 2007, BRB/percent of Amateurism's all out incomes were based handle/the toys that were fabricated in their 11 plants in China which they possessed and worked (Story, AAA ). BRB/2. Why lead painter/Lead is added to paint so as to expand thebe/length cohort/punished in which the paint dries, to build the solidness of the paint and to upgrade the capacity of the paint to oppose dampness which could cause erosion (Wisped).Lead paint is likewise simpler to apply on hard reface and can deliver a more extravagant/BRB/shading than paint without lead. The net outcome is tabor/lead improves how the paint is utilized in the creation procedure, however the lead isn't permitted to be added to the paints. Accordingly, paint in which pioneer/has been included is sold ATA Custodianship's cost of ennobler/third of the expense of paint that does exclude pioneer/(Barbara, 2007). BRB/Matter had permitted the neighborhood providers to actualize their own wellbeing testing which brought about the delivery of corrupted toys from the industrial facilities in China/to kids around the world.The providers had/dashed to utilize less expensive paint which contained pioneer/to l essen fabricating costs. The provider tabor/made the toy Lee Deer Industrial Company was/explored by the Chinese Government for its/job in the utilization of polluted paint. The provider expressed/that it was cheated by its own paint provider, challenge/sold Lee Deer Industrial the paint which included/the lead. Lee Deer Industrial guaranteed that they were/not mindful that the paint was debased shrivel/range cohort/radiant (Zamias and Casey, 2007).The Chinese government restricted Lee Deer Industrial from sending out any more toys until a full examination was finished. The net outcome was that Lee Deer Industrial needed to stop its tasks, which prompted the self destruction offer/BRB/its originator Ghana Shogun. Awkwardness' reaction in bar/official statement to the self destruction was that liquored were/BRB/upset to catch wind of this grievous encephalitis is bar/individual hardship not a corporate occasion. Any misfortunes/of life is a disaster and we feel for the family during/ this troublesome faint (Cody and Joe, 2007). BRB/3.The second review/On August 14, 2007, Matter gave a second major/review of toys produced in China. The supported/call incorporate extra toys made with paint sullied with lead just as a large number of different toys which have magnets which could turn out to be free and/could be gulped by youngsters. An expected/436,000 toys were being reviewed because of lead painter/An extra 18. 2 million attractive toys were being/reviewed after revealed wounds and passing of kids/range colleague/Spanish had gulped the magnets after they had gotten free from the toy.Matter expressed that the attractive toy review included 63 distinctive fluctuates of toys including such notable brand names as Pillory/Pocket, Batman, and Barbie. The lead paint reviewed/toys included brand names, for example, the characters offer/Sesame Street, Dora the Explorer and Disingenuous Carobs/(Story and Barbara, 2007). The senior VP of overall quality confirmation at Matt er, Jim Walter, expressed that Matter had ldquostrengthenedrdquo its/three-point check quality framework to guarantee that toys/with lead would not enter the marketplace.Thebe/three point framework incorporates checking that lone ensured providers of paint will be utilized to fabricate the toys, a required testing of each cluster of toys/created, the fixing of value controls including irregular investigations during the assembling procedure and the testing of each creation run offer/finished toys (Barbara and Story, 2007). As was/the case with the primary review, a subcontractor was/used to gracefully the paint to Amateurism's contractual worker inalienable/China.Hong Lie Dad provided the paint to Early/Light Industrial which didn't know that the painter/had been debased with lead. Early Light had/been a contractual worker for Matter for a long time. Matter/had utilized somewhere in the range of 30 and 50 contractual workers in China/and many subcontracted out piece of the creation/ procedure to a subcontractor. Lee Deer, the contractual worker/of the first Matter review lost its permit to trade and therefore left business (Story and Barbara, 2007). Lee

Gain Confidence in Your Writing Skills

Gain Confidence in Your Writing Skills Gain Confidence in Your Writing Skills Gain Confidence in Your Writing Skills If it is time for you to get writingâ€"whether it is a research essay, lab report, resume, or even just an emailâ€"the task can bring unnecessary anxiety into your life. It is not uncommon for individuals to agonize over choosing the right word or to worry whether they put the comma in the right place. Is my thesis clear? Will I meet the deadline? What is a semi-colon even for? The fact that you recognize these problems and ask these questions means that getting it right matters to you. You could be a high-school student trying to come to terms with proper grammar or a seasoned writer, but we all lack confidence in our skills from time to time. Writing is intimidating and challenging but not impossible. Don’t let uncertainty cripple you from making an attempt to get your ideas down. What you have to say matters! There are many great resources available, in print and online. Picking up a basic grammar or style guide are great references for solving simple or complex problems, and there are plenty of podcasts and blogs with tips on how to improve your writing. If you are in university, check out what your campus has to offerâ€"tutoring services and writing centres provide one-on-one sessions, tutorials, and editing services. Your writing will benefit greatly from any of these types of personal attention. Of course, one of the best pieces of advice to gain confidence in your writing is to just write. Get your initial ideas down in whatever form they come to youâ€"even just simple jot notes are a great beginning. Once you have the bare bones of what you want to say, it is much easier to craft them into actual sentences and paragraphs. Before you know it, a piece of cohesive writing will appear! When you have a draft ready but know that it is not yet suitable for final submission, it is a good time to let someone else take the reins. The writers at Homework Help Canada provide editing and proofreading services and can offer great advice on how to write better papers; you can learn about the essay writing process, organization, time management, and tips on how to improve your writing. Those rudimentary ideas you jot down will benefit from careful revision so that you can be confident that your ideas are polished, clear, and effective. Your writing will improve the more you take advantage of our expert services; we are confident that you will reach academic and professional success by reaching out to us. References: Amazon.com (2015). Amazon Best Sellers: Best Grammar Reference. Retrieved August 23, 2015, from 11981 Hale, Ali. (2014). Retrieved August 23, 2015, from Gain Confidence in Your Writing Skills Gain Confidence in Your Writing Skills Gain Confidence in Your Writing Skills If it is time for you to get writingâ€"whether it is a research essay, lab report, resume, or even just an emailâ€"the task can bring unnecessary anxiety into your life. It is not uncommon for individuals to agonize over choosing the right word or to worry whether they put the comma in the right place. Is my thesis clear? Will I meet the deadline? What is a semi-colon even for? The fact that you recognize these problems and ask these questions means that getting it right matters to you. You could be a high-school student trying to come to terms with proper grammar or a seasoned writer, but we all lack confidence in our skills from time to time. Writing is intimidating and challenging but not impossible. Don’t let uncertainty cripple you from making an attempt to get your ideas down. What you have to say matters! There are many great resources available, in print and online. Picking up a basic grammar or style guide are great references for solving simple or complex problems, and there are plenty of podcasts and blogs with tips on how to improve your writing. If you are in university, check out what your campus has to offerâ€"tutoring services and writing centres provide one-on-one sessions, tutorials, and editing services. Your writing will benefit greatly from any of these types of personal attention. Of course, one of the best pieces of advice to gain confidence in your writing is to just write. Get your initial ideas down in whatever form they come to youâ€"even just simple jot notes are a great beginning. Once you have the bare bones of what you want to say, it is much easier to craft them into actual sentences and paragraphs. Before you know it, a piece of cohesive writing will appear! When you have a draft ready but know that it is not yet suitable for final submission, it is a good time to let someone else take the reins. The writers at Homework Help USA provide editing and proofreading services and can offer great advice on how to write better papers; you can learn about the essay writing process, organization, time management, and tips on how to improve your writing. Those rudimentary ideas you jot down will benefit from careful revision so that you can be confident that your ideas are polished, clear, and effective. Your writing will improve the more you take advantage of our expert services; we are confident that you will reach academic and professional success by reaching out to us. References: Amazon.com (2015). Amazon Best Sellers: Best Grammar Reference. Retrieved August 23, 2015, from 11981 Hale, Ali. (2014). Retrieved August 23, 2015, from

Intergenerational Cultural Dissonance - 2449 Words

Cognitive Dissonance Intergenerational Cultural Dissonance Everyone remembers fighting with their parents at some point in their life, whether as a young child who wants a toy or as a teenager who isn’t allowed to go out. It’s normal to want to challenge authority when growing up, because it helps young people to make their own decisions and become individuals. Teenagers rely on few close friends and the last people expected to be confidants are their parents. As a Filipino-American and a child of immigrant parents, the consequences of my rebellion are much more serious than for a child of American-born parents. My parents raised me as if I was growing up in the Philippines. The values and practices they had were completely different†¦show more content†¦This tension causes the individual to change their attitude to match their behavior or change the behavior to match the attitude. Festinger believed when people act in a way which is contrary to the beliefs that are held, they have a tendency to change their beliefs to match their actions. (Zajonc) After further research outside of class time, I’ve come to the conclusion that I’ve been suffering from intergenerational cultural dissonance or intergenerational cultural conflict. ICD (intergenerational cultural dissonance) is, family conflict due to the cultural dissonance that emerges between generations. Asian immigrant families try to retain their native cultural val ues and teach them to their children all whilst their children start to learn the american culture. As asian american children acculturate into american society at a faster rate as their parents, they (the children) become burdened by taking the conflicting norms of their parents native culture. (Yang) The United States is a melting pot for people of all cultures. According to the US Census, immigrants make up almost 12% of the population of the United States and their children make up 20%, meaning that one-fifth of Americans may potentially experience intergenerational cultural dissonance, also known as the parent-child conflict between an immigrant and their America-born child. TheShow MoreRelatedDeviance And Crime And Deviance1623 Words   |  7 PagesT. W., 2008). This is due to the intergenerational dissonance that can occur when a parent immigrates to the states and their values conflict with their American born children; usually, this dissonance can create problem behavior in the child to act out and become more deviant. Although I’ve stated before that I have distinct myself from some of my parent’s beliefs, I have not abandoned my Vietnamese culture altogether. If I did, I fear that because â€Å"both cultural discrepancy and parent-child conflictRead MoreI mmigrant Advantage On Academic Achievement And Mental Health Essay1959 Words   |  8 Pagesthe change process that occurs with cross-cultural contact, often occurring in immigrant families with identity, behavior, and language. As immigrant families migrate from their origin areas, more intergenerational disagreement is found in contrast with native-borns. Immigrant children experience acculturation through direct contact with the new culture through their environments, often at a different pace than their parents which causes cognitive dissonance. Another possibility is when parent of immigrantRead MoreConsumer Behavior Study Notes7882 Words   |  32 Pagesaffiliation Motivational Conflicts Valence: a goal can be either positive or negative Approach-approach conflict * choice between two desirable alternatives i.e. go home for holidays to see family or ski with friends Theory of Cognitive Dissonance: when picking between two products and one is selected, inherently youll lose on the benefits of the other and gain the negatives of the one chosen. People will start to rationalize their purchase, as a marketer, you can aid this conflict by bundlingRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesBarriers to Effective Communication 353 Filtering 353 †¢ Selective Perception 353 †¢ Information Overload 353 †¢ Emotions 353 †¢ Language 354 †¢ Silence 354 †¢ Communication Apprehension 355 †¢ Lying 355 Global Implications 356 Cultural Barriers 356 †¢ Cultural Context 357 †¢ A Cultural Guide 358 Summary and Implications for Managers 360 S A L S A L Self-Assessment Library Am I a Gossip? 336 An Ethical Choice The Ethics of Gossip at Work 345 Myth or Science? â€Å"We Know What Makes Good Liars Good†

William Howard Taft Fast Facts - 27th US President

William Howard Taft (1857 - 1930) served as Americas twenty-seventh president. He was known for the concept of Dollar Diplomacy. He was also the only president to become a Supreme Court Justice, being appointed Chief Justice in 1921 by President Warren G. Harding.   Here is a quick list of fast facts for William Howard Taft. For more in depth information, you can also read the William Howard Taft Biography Birth: September 15, 1857 Death: March 8, 1930 Term of Office: March 4, 1909-March 3, 1913 Number of Terms Elected: 1 Term First Lady: Helen Nellie HerronChart of the First Ladies William Howard Taft Quote: The diplomacy of the present administration has sought to respond to modern ideas of commercial intercourse. This policy has been characterized as substituting dollars for bullets. It is one that appeals alike to idealistic humanitarian sentiments, to the dictates of sound policy and strategy, and to legitimate commercial aims. Major Events While in Office: Payne-Aldrich Tariff Act (1909)Sixteenth Amendment Ratified (1913)Dollar DiplomacyAntitrust Policy States Entering Union While in Office: New Mexico (1912)Arizona (1912) Related William Howard Taft Resources: These additional resources on William Howard Taft can provide you with further information about the president and his times. William Howard Taft BiographyTake a more in depth look at the twenty-seventh president of the United States through this biography. Youll learn about his childhood, family, early career, and the major events of his administration. Territories of the United StatesHere is a chart presenting the territories of the United States, their capitals, and the years they were acquired. Chart of Presidents and Vice PresidentsThis informative chart gives quick reference information on the presidents, vice-presidents, their terms of office, and their political parties. Other Presidential Fast Facts: Theodore RooseveltWoodrow WilsonList of American Presidents

Emerging Economies Free Essays

string(55) " the growth prospects of these economies are striking\." Business Development in Emerging Economies Business Development in Emerging Economies Coursework Coursework Contents A. In your opinion, what is the future of emerging economies? Support your answer with relevant evidence. (2000 words)3 Introduction4 What are emerging economies4 Future of emerging economies5 Microeconomic approach6 Long-term economic perspectives7 The â€Å"Euro† perspective8 Facts about the future9 Forecast11 Opinion12 Risks for emerging markets12 B. We will write a custom essay sample on Emerging Economies or any similar topic only for you Order Now Critically discuss the factors driving the growth of emerging MNEs. Use relevant company and country examples. 500 words)14 What are MNEs (Multinational Enterprises)15 Facts about MNEs15 C. How formidable is the competition posed by emerging markets MNE’s to the â€Å"Western† companies? Could it be country- or/and sector-specific? (500 words)18 References21 Business Development in Emerging Economies Coursework Submission A. In your opinion, what is the future of emerging economies? Support your answer with relevant evidence. (2000 words) B. Critically discuss the factors driving the growth of emerging MNEs. Use relevant company and country examples. (500 words) C. How formidable is the competition posed by emerging markets MNE’s to the â€Å"Western† companies? Could it be country- or/and sector-specific? (500 words) A. In your opinion, what is the future of emerging economies? Support your answer with relevant evidence. (2000 words) Introduction What are emerging economies The emerging markets story began almost thirty years ago. In the mid-1980s, developed economies started on a debt-fueled consumer spending binge that lasted more than two decades. This provided an incredible opportunity for developing economies. So, emerging markets or emerging economies are nations with social or business activity in the process of rapid growth and industrialization. The seven largest emerging and developing economies by either nominal Gross Domestic Product or GDP (Purchasing Power Parity) are China, Brazil, Russia, India, Mexico, Indonesia, and Turkey. Some characteristics that define an economy as emerging are the following: * Intermediate income: its PPP per capital income is comprised between 10 % and 75 % of the average EU per capital income. Catching-up growth: during at least the last decade, it has experienced a brisk economic growth that has narrowed the income gap with advanced economies. * Institutional transformations and economic opening: during the same period, it has undertaken profound institutional transformations which contributed to integrate it more deeply into the world economy. Hence, emerging economies appears to be a by-product of the current globalization. Emerging markets are soug ht by investors for the prospect of high returns, as they often experience faster economic growth as measured by GDP. Investments in emerging markets come with much greater risk due to political instability, domestic infrastructure problems, currency volatility and limited equity opportunities (many large companies may still be â€Å"state-run† or private). Also, local stock exchanges may not offer liquid markets for outside investors. These countries do not share any common agenda, so there are various lists of emerging markets, developed by various analysts such as The Economist, the International Monetary Fund, Dow Jones etc.. If we had to make a summary list it would be the following: Afghanistan|   Estonia|   Lithuania|   Qatar|   Sudan|   Argentina|   Hong Kong|   Malaysia|   Romania|   Taiwan|   Bahrain|   Hungary|   Mauritius|   Russia|   Thailand|   Bangladesh|   India|   Mexico|   Saudi Arabia|   Turkey|   Brazil|   Indonesia|   Morocco|   Singapore|   Tunisia|   Bulgaria|   Iran|   Nigeria|   Slovakia|   UAE| Chile|   Israel|   Oman|   Slovenia|   Ukraine| China|   Jordan|   Pakistan|   South Africa|   Venezuela|   Colombia|   Kuwait|   Peru|   Sri Lanka|   Vietnam| Czech Republic|   Latvia|   Philippines|   South Korea|   Sudan|   Egypt|   Estonia|   Poland|   Qatar|   Taiwan| Future of emerging economies In the past decade emerging markets have established themselves as the world’s best sprinters. As serial crises tripped up America and then Europe, China barely broke stride. Other big developing nations paused for breath only briefly. Investors bet that rapid growth in emerging markets was the new normal, while leaders from Beijing to Brazil lectured the world on the virtues of their state-centric economic models. More than 80% of the world’s population lives in countries with emerging economies. As we can see in Figure 1, the share of emerging markets in global output has increased from below 20% in the early 90’s, to more than 30% today. Considering the cost of living differences, the share of emerging economies in world GDP already exceeds 45%, which is 13 percentage points higher than in the early 90’s. According to the International Monetary Fund’s (IMF), World Economic Outlook, this share will exceed 50% in 2013. Figure [ 1 ]: Share of emerging economies in world GDP in recent periods While these economies are already large, they keep growing strongly. Growth in emerging economies and increased resistance to economic and financial shocks mean good news for the global economy, which can definitely rely on the dynamism of emerging economies more than it did in the past. The residents of emerging economies’ countries benefited a lot from this rapid growth, as it led to rising living standards. During the period 2000-2009, the per capita GDP in these countries increased by more than 70%. The integration of emerging economies in world markets for goods and services happened smoothly. Regarding global exports of goods and services, the share of emerging economies almost doubled between the early 90’s and 2010, reaching 35%. Microeconomic approach The most important role of the emerging economies and reflected at the micro level. Specifically, six of the 25 largest companies in the world, for example, in terms of market value come from emerging markets. These companies are listed below, according to Global 2000 list for 2012, an annual ranking of the top 2000 public companies in the world by Forbes magazine. The ranking is based on a mix of four metrics: sales, profit, assets and market value. Rank| Company| Headquarters| Industry| Profits (billion $)| Assets (billion $)| Market Value (billion $)| 05| Industrial and Commercial Bank of China|   China| Banking| 25. 1| 2,039. 1| 237. 4| 07| PetroChina|   China| Oil and gas| 20. | 304. 7| 294. 7| 10| Petrobras|   Brazil| Oil and gas| 20. 1| 319. 4| 180| 13| China Construction Bank|   China| Banking| 20. 5| 1,637. 8| 201. 9| 15| Gazprom|   Russia| Oil and gas| 31. 7| 302. 6| 159. 8| 19| Agricultural Bank of China|   China| Banking| 14. 4| 1,563. 9| 154. 8| Long-term economic perspectives The present of emerging economies seems promising, but the future seems even better. According to forecasts for long-term growth based on demographic trends and models of capital accumulation and productivity, it seems that the role of emerging economies in the global economy will be even larger. More specifically, according to various surveys, the growth prospects of these economies are striking. You read "Emerging Economies" in category "Papers" The share of Brazil, Russia, India and China, if considered together, could by 2025 correspond to a rate of more than 50% share of the current six largest industrialized economies and to overcome it in less than 40 years. The â€Å"Euro† perspective From the perspective of the euro, the growing role of emerging economies provides various opportunities. More specifically, the dynamic growth of emerging economies is increasing demand for certain goods and tradable services where the euro zone has a comparative advantage. Also, competition from emerging markets increases motivation for further progress in structural reforms in the euro zone, which are either way necessary. In addition, the Eurozone is capable of seizing new opportunities created by emerging economies. Exports and imports of goods and services of the euro zone represent a significant share of the GDP. Considering this, it is remarkable that the share of the euro zone exports (excluding trade within the euro zone) to Asia increased from 19% in 2000 to 22% in 2009, while exports to the United States decreased from 17% to 12% over the same period. China’s share in total exports of the euro zone increased from 2% in 2000 to 5. 3% in 2009. Exports to Russia more than doubled over the same period from 1. 8% to 3. 9%, thus exceeding the exports to Japan, although the share of Russia was higher in 2008 (5. 0%), before the global trade collapsed. A similar trend was observed in India, though on a much smaller scale, as India’s share was 1. 7% of euro zone exports in 2009. The crisis When the global financial crisis struck, emerging economies responded energetically: China launched a huge stimulus, Brazil’s state-owned banks avished credit, interest rates were slashed. They succeeded so well that by 2010 they were forced to reverse course. To squash price pressures they raised interest rates, curbed speculation and allowed their currencies to appreciate. With a lag, that tightening has had the predicted result. Still, the slowdown has proved much sharper than expected. Europe’s sovereign-debt crisis is par tly to blame. It has sapped demand for the developing world’s manufactured exports and restrained prices of their commodities; South Africa is a notable casualty. European banks had been conduits for foreign money flowing into emerging markets. Now they are pulling back as they grapple with the problems at home. The issues of slowing growth, high government debts, rising unemployment, and aging populations within developed economies such as the United States presented headwinds for emerging market countries, which in the past had been much more reliant on the health of developed markets. However, because of earlier fiscal discipline, countries such as China, Brazil and Indonesia were able to stimulate economies on their own with low interest rates and massive stimulus packages. The central banks were recourse to those who needed to borrow money, in order to avoid a major crisis. In December 2011 and February 2012, the European Central Bank announced long-term refunding, while European banks borrowed about 1 trillion euros. The U. S. Federal Bank, along with many central banks from developed countries went on with liquidity injections. That move resulted to massive relief, as the markets stabilized and industrial production increased again. The question then was if this would last, allowing the global economy to keep on growing. This was more of concern for emerging economies, which were considered to be safer than economically advanced countries. Many of them faced difficulties when they actually started developing, as they had to deal with massive poverty. Facts about the future Sadly, many emerging-world governments have interpreted the crisis in rich-world finance as a reason to preserve a more muscular role for the state. China has reserved some sectors for state-owned enterprises. In Brazil the big state-controlled oil company, Petrobras, and the tate-controlled banks have become virtual appendages of government policy. Having so much leverage over the economy is indeed helpful during a crisis, but in the long run it will stifle competition, starve the private sector of capital, deter foreign investment and know-how, and breed corruption. When the dust settles, emerging markets will still be growing faster than they did before 2003. But getting back up to the speed of the past decade will mean maintain ing the macroeconomic discipline and returning to the microeconomic reforms that made it possible in the first place. A strong infrastructure has significant long-term benefits, such as a growing manufacturing base, an educated workforce and more mobile, and therefore more easily employable, societies. The build-out of fixed asset infrastructure in China, which has been strong over the past 15 years, continues today, particularly as the population becomes more urbanized. Brazil also continues to invest in infrastructure, with estimates in excess of $800 billion in infrastructure spending as the country prepares to host the 2014 FIFA World Cup and the 2016 Summer Olympic Games. For example, the case of India. Since 2009, India has deliberately inflated its deficit in order to offset the economic slowdown. Fiscal expansion was very efficient in promoting growth of demand and supply after several years’ restriction. However, now the expansion is limited. Unlike developed countries, most developing economies are under inflationary pressure, which can be worse than additional expensed. Thus, the short-term future seems to be reserving various dangers. Nevertheless, medium and long-term perspectives about emerging economies are positive. Countries that save money, invest in human capital and provide good governance can achieve rapid growth again. India, for example, saves and invests more than 30% of its GDP, devoting a significant percentage of these sources to infrastructure. Thus, the possibility of India expanding its business increases. Investors seem to take seriously into account this perspective. They seem to be very hesitant towards investments in private equity funds. Nonetheless, they provided India with 43,8 billion dollars in long-term direct investments during 2011-2012. Despite the current crisis, the outlook seems encouraging for other emerging economies too, such as Brazil, China and Indonesia. It’s obvious that during the second half of 2011, developing economies that have faced the economic crisis kind of well, started to feel pressure as the euro zone crisis was getting worse. Growth in Brazil, India, China and other countries noted a remarkable slow down. Global economy seems to be focusing on fast-growing markets that are outside BRIC (Brazil, Russia, India and China) as there is the perception that they are capable of integrating faster than the BRIC countries into the global economy due to a number of trade, investment, technological and cultural criteria. These markets achieve constantly high rates of economic growth at the same level with the BRIC countries. Turkey, Indonesia and Mexico come just after China and India in terms of GDP growth between 2000 and 2015. Peru, Colombia, Venezuela, Malaysia and Vietnam, along with some countries and regions of Africa are ready to be included in the list with the most dynamic countries in the world, regarding investments. It’s becoming more and more admissible that these countries are the most significant sources of income for the future years. Same prospects seem to appear for South Africa, Indonesia, Mexico and Turkey, which are considered to be the most competitive ones. Executives from all around the economy world claim that they are planning to raise their investments in these markets. As goods’ and services’ trade goes back to the levels it was before the financial crisis and the flow of funds appears to steadily increase, technology and cross-border exchange of ideas will continue forcing growth and promoting globalization. Forecast Forecasts concerning the period of time from now and by 2015 don’t seem really encouraging for Europe and emerging economies. The last year’s liquidity injection was deemed to be an efficient policy, but it was certainly not a radical solution. No crisis looms, but serious concern is justified, for the emerging world faces two distinct risks: a cyclical slowdown and a longer-term erosion of potential growth. The first should be reasonably easy to deal with. The second will not. Fiscal discipline and investment has delivered for emerging economies up to this point. This can significantly contribute to future growth. If Europe can succeed in promoting large fiscal and banking reforms and put its economy in order, the crisis will probably subside. Otherwise it will remain until the end of 2014 and then Europe will be before high risk once again. Regarding the developing countries, they will definitely be influenced by the U. S. and Europe – the two largest economies in the world. Their slowdown will directly affect all developing countries. The analyst, Jean Louis Martin claims though, that emerging economies will account for 52% of the global economy. His forecast is based on current prices and exchange rates-compared with 38. 9% in 2011. Opinion Looking through the past as thoroughly as I can, and considering the risks, my opinion about a potential recovery tends to be negative. A slump in these countries thus looks unlikely; so, however, does a return to the past decade’s growth rates. China, for one, doesn’t want it. Its economy has become over-reliant on investment; its leaders want to usher in a phase of more sustainable but slower growth, led by consumers. Beyond China, it is increasingly clear that many emerging economies have been growing beyond their underlying potential. Optimists once thought India could sustain Chinese-style growth of over 9% a year; but that led to stubborn inflation and current-account deficits, suggesting that India’s potential growth may be more like 6-7%. There is no guarantee that emerging markets will experience stable, sustainable development, since numerous economic and political risks are lurking. Emerging countries are still vulnerable to economic changes that occur in developed countries. Risks for emerging markets There’s a number of potential sources of macroeconomic and political instability such as high fiscal deficits, over-dependence on oil revenues and gas, increasing disparities in income leading to social tensions and acroeconomic and financial instability. Many reports also highlight the pressures on natural resources from the rapid growth in emerging economies, including the increasing difficulty of keeping global warming within the maximum limit of two degrees Celsius. While new unconventional sources like shale gas have reduced fears of depletion of fossil fuels, the risks associated with the most unstable global climate patterns are expected, to follow a steady upward trend. Issues such as taxation of executive compensation, the proper scope of financial regulation, and international M;A have come to the foreground in the wake of the crisis, and stark international differences in opinions and policies on these matters are already evident. The differences will only become more pronounced as discussions about the appropriate near-term policy response to the crisis give way to debates about who should pay and how much. The multinational firms best able to anticipate and manage the related risks and opportunities will have the strongest competitive edge. B. Critically discuss the factors driving the growth of emerging MNEs. Use relevant company and country examples. (500 words) What are MNEs (Multinational Enterprises) As the name implies, a multinational corporation is a business concern with operations in more than one country. These operations outside the company’s home country may be linked to the parent by merger, operated as subsidiaries, or have considerable autonomy. Firms tend to locate where barriers are easier to overcome. For firms in emerging countries, this initially meant locating in nearby countries with regional, cultural or language ties (so-called South-South FDI). This trend seems to be changing, however, as firms from emerging economies gain prominence. Facts about MNEs There are over 40,000 multinational corporations currently operating in the global economy, in addition to approximately 250,000 overseas affiliates running cross-continental businesses. The top multinational corporations are headquartered in the United States, Western Europe, and Japan; they have the capacity to shape global trade, production, and financial transactions. Multinational corporations are viewed by many as favoring their home operations when making difficult economic decisions, but this tendency is declining as companies are forced to respond to increasing global competition. Multinational corporations follow three general procedures when seeking to access new markets: * merger with or direct acquisition of existing concerns * sequential market entry and joint ventures Here’s an example of sequential market entry, which often includes foreign direct investment, which involves the establishment or acquisition of concerns operating in niche markets related to the parent company’s product lines in the new country of operation. Japan’s Sony Corporation made use of sequential market entry in the United States, beginning with the establis hment of a small television assembly plant in San Diego, California, in 1972. For the next two years, Sony’s U. S. perations remained confined to the manufacture of televisions, the parent company’s leading product line. Sony branched out in 1974 with the creation of a magnetic tape plant in Dothan, Alabama, and expanded further by opening an audio equipment plant in Delano, Pennsylvania, in 1977. After a period of consolidation brought on by an unfavorable exchange rate between the yen and dollar, Sony continued to expand and diversify its U. S. operations, adding facilities for the production of computer displays and data storage systems during the 1980s. In the 1990s, Sony further diversified it U. S. facilities and now also produces semiconductors and personal telecommunications products in the United States. Sony’s example is a classic case of a multinational using its core product line to defeat indigenous competition and lay the foundation for the sequential expansion of corporate activities into related areas. Multinational corporations are thus able to penetrate new markets in a variety of ways, which allow existing concerns in the market to be accessed a varying degree of autonomy and control over operations. Multinationals today are viewed with increased suspicion given their perceived lack of concern for the economic well-being of particular geographic regions and the public impression that multinationals are gaining power in relation to national government agencies, international trade federations and organizations, and local, national, and international labor organizations. Despite such concerns, multinational corporations appear poised to expand their power and influence as barriers to international trade continue to be removed. They share many common traits, including the methods they use to penetrate new markets, the manner in which their overseas subsidiaries are tied to their headquarters operations, and their interaction with national governmental agencies and national and international labor organizations. In particular, factors that benefit MNEs growth are: * labor is relatively cheap * Ownership advantages encompass the development and ownership of proprietary technology or widely recognized brands that other competitors cannot use. Empirical analysis shows that multinationals are often technological leaders that invest heavily in developing new products, processes and brands, which are then kept confidential and are protected by intellectual property rights * technology being adopted is leapfrogging much of the legacy IT infrastructure that is still in use in developed countries * Localization advantages refer to the benefits that come from locating near the final buyers or closer to more abundant and cheaper production factors, such as expert engineering or raw materials multinationals internalize the benefits from owning a particular technology, brand, expertise or patent that they find too risky or unprofitable to rent or license to other firms due to the difficulties of enforcing international contracts * management and production expertise from the parent concern Other concerns raised by respondents included government regulation, established competition, and the availability of communications and digital infrastructure. C. How formidable is the competition posed by emerging markets MNE’s to the â€Å"Western† companies? Could it be country- or/and sector-specific? 500 words) Right now more than 20,000 multinationals are operating in emerging economies. According to the Economist, Western multinationals expect to find 70% of their future growth there—40% of it in China and India alone. But if the opportunity is huge, so are the obstacles to seizing it. On its 2010 Ease of Doing Business Index, the World Bank ranked China 89th, Brazil 129th, and India 133rd out of 183 countries. Summarizing the bank’s conclusions, the Economist wrote, â€Å"The only way that companies can prosper in these markets is to cut costs relentlessly and accept profit margins close to zero. Western companies have had many difficulties entering emerging markets to date, as they seemed to apply a wrong entering strategies, which were due to lack of knowledge and experience. Many comp anies have already been lured by the promise of profits from selling low-end products and services in high volume to the very poor in emerging markets. And high-end products and services are widely available in these markets for the very few who can afford them: You can buy a Mercedes or a washing machine, or stay at a nice hotel, almost anywhere in the world. Our experience suggests a far more promising place to begin: between these two extremes, in the vast middle market. Consumers there are defined not so much by any particular income band as by a common circumstance: Their needs are being met very poorly by existing low-end solutions, because they cannot afford even the cheapest of the high-end alternatives. Companies that devise new business models and offerings to better meet those consumers’ needs affordably will discover enormous opportunities for growth. Take, for example, the Indian consumer durables company Godrej Boyce. Founded in 1897 to sell locks, Godrej is today a diversified manufacturer of everything from safes to hair dye to refrigerators and washing machines. In workshops we conducted with key managers in the appliances division, refrigerators emerged as a high-potential area: Because of the cost both to buy and to operate them, traditional compressor-driven refrigerators had penetrated only 18% of the market. The markets and operating environments in India are radically different from MNCs’ home markets, making it possible a wide range of competitive encounters and outcomes. For example, there are several layers of product and customer segments that reward different approaches from competitors, making it possible for both local challengers and patient MNCs to find different starting places and, over time, compete more directly. Competition appears to be formidable for â€Å"Western† companies, since they are not really qualified to deal with MNEs of emerging markets, which keep on developing. Furthermore, it seems that the competition could definitely be both country and sector specific, as, regardless of the difference in trends perceived as important and the reported level of preparedness, companies, both Western and emerging multinationals, take a similar approach to the critical actions needed to address emerging countries’ consumer market trends. These include developing new products and services, adapting the brand strategy, conducting market research, and adapting the marketing communication strategy. References * Contessi S. , El-Ghazaly H.. (2010). Multinationals from Emerging Economies Growing but Little Understood. Available:http://research. stlouisfed. org/publications/regional/10/07/multinational. pdf. * Matthew J. Eyring, Mark W. Johnson, and Hari Nair. (2011). New Business Models in Emerging Markets. Available: http://hbr. org/2011/01/new-business-models-in-emerging-markets/ar/1 * Ernst Young. (2013). Focusing on emerging markets. Available: http://www. net. gr/? i=news. el. articleid=338400 * Jean Louis Martin. (2012). Emerging Economies in 2020. Available: http://www. capital. gr/news. asp? id=1497484 * Unknown author. (2013). Challenges in development of emerging economies. Available: http://www. stockwatch. com. cy/nqcontent. cfm? a_name=news_viewann_id=165565 * K. Ghosh and L. Yu. (2012). The future of emerging markets. Allianz Global Investors. 12 (1), 1-4 * AmCham and Booz Company. How to cite Emerging Economies, Papers

Life Insurance Legal Contract

Question: Discuss about a Case Study on Life Insurance for Legal Contract ? Answer: Introduction Life insurance can be defined as a legal contract or agreement between insurer and insurance policy holder in which it is promised on the part of the insurer to the policy holder or his or her designated beneficiary to pay a sum of money after death of the insured person (Cockerell, 2005). This thesis provides both theoretical and analytical ideas about the concepts of traditional net cost method and interest adjusted method that are applicable in the process of computing cost of life insurance. Presently, it has become necessary on the part of policy holders to understand these concepts so that they can avoid the losses that may occur to them as a result of inaccurate cost variations that exist most of the times among similar or comparable life insurance policies(Murphy, 2010). Because of these erroneous cost variations, different levels of costs get associated with the same level of insurance protection offered by different insurance companies. This means that purchase of high cost policy do not always confirm additional insurance protection thereby resulting in wastage of the extra dollars paid (McKnight et al., 2012). Thus, in order to avoid such circumstances, it is necessary to understand the advantages or benefits of interest adjusted cost method over traditional cost method and this thesis is expected to pave for the same. Thesis statement It is important to accumulate and disseminate detailed ideas regarding the concepts of traditional cost methods and interest adjusted cost methods of calculating cost of life insurance so that the advantages and disadvantages of one over the other can be comprehended on the part of policy holders in an efficient manner and cost methods associated with highest levels of advantages can be applied so as to make sure minimum loss and maximum advantage from a life insurance policy. Purpose of the paper The main purposes of the paper are to communicate the advantages of the interest adjusted cost method over traditional cost method to the users of insurance policy and to educate purchasers of life insurance policies on how to deal with a life insurance agent in the process of purchasing life insurance policies. Overview of the paper This thesis covers case study summary and the theoretical and practical discussions on the advantages of interest adjusted cost method of calculating insurance policy cost over traditional cost method. This paper also discusses how clients should assess quality of insurance agents before purchasing insurance policies. Body Background information It has often been observed that due to the presence of erroneous variations in costs of life insurance among comparable life insurance policies considerable amounts of additional costs are incurred on the part of the insurance policy holders for the same amount of insurance protection (Hardy et al., 2007). In other words, costs vary across similar sort of insurance protections offered by different policies of different companies and this most of the times result in incurrence of extra dollars on the part of policy holders (Vogel Blair, 2007). Advantages of interest adjusted cost method over traditional cost method It is important on the part of the clients to assess relative advantages and disadvantages of costing methods and apply the same in a beneficial manner while selecting insurance policies (Maclean, 2009). It is also important on the part of researchers to communicate to the users of insurance policy holders that when it comes to insurance policy cost, interest adjusted cost methods are more accurate that traditional cost methods. This is mainly because of the fact that traditional net cost method used in the process of ascertaining life insurance cost fails to take in to account time value of money and these shows insurance to be free which is false. On the other hand, interest adjusted cost methods are more accurate in the sense that they take in to account time value of money through application of interest factor to each cost element (Zartman Price, 2011). Again, in the context of traditional cash value life insurance policies, data on annual rates of return are not easily avai lable to the consumers. This drawback is absent in the case of interest adjusted life insurance policies as the same make yearly rates of return easily available to the customers. Insurance industry and insurance agents It goes without saying that selling is always a tough job and selling life insurance is even tougher (Huebner Black, 2006). In the insurance industry of today, competition is extremely fierce and under such circumstances, insurance agents are made to sell insurance policies without providing them with sufficient training. Moreover, they are made to work under immense sales pressure so that they can accomplish targeted sales without fault. This is not only the case with new agents but also with mature agents. Under such circumstances, some agents resort to dishonest sales practices such as misrepresentation of insurance to clients or recommendation of policies to clients that maximise commission and do not fulfil client needs (Zartman Price, 2011). In this regard, it is important to educate the clients about the matter that interest adjusted insurance costing method is more accurate than traditional method and an agent calculating cost of a proposed insurance policy through tradition al costing method can be considered incompetent and unacceptable. To be ideally educated, an insurance agent must be a Chartered Financial Consultant (ChFC) or Chartered Life Underwriter (CLU) or Chartered Financial Planner. Moreover, he or she must be technically competent and a good advisor (Magee, 2010). Calculations and inferences Computation of annual net cost per $1000 Annual net cost = (tenure of life insurance x annual premium) total dividends for 20 years cash value at the end of 20 years = [(20 x 230) 1613 3620]/ (20 x 10) = - $3.165 The above figure of annual net cost is indicative of the fact that the insures will have to pay $3.165 to the client each year for every $1000 of life insurance coverage bought on the part of the client(Gerber, 2008). No insurance company is expected to accept this as this a loss go the company. Computation of annual surrender cost index per $1000 Annual surrender cost index = [(tenure of life insurance x Annuity due factor for 20 years) accumulated value of dividends for 20 years cash value at the end of 20 years] / annuity due factor for 20 years x 100 = [(230 x 34.719) 2353 - 3620)] / (34.719 x 10) = $0.58 The above figure of annual surrender cost index indicates that if the stated policy is held on the part of the client for 20 years and then surrendered, it would cost $0.58 per $1000 per year(Gaines, 2012). Computation of annual net payment cost index per $1000 Annual net payment cost index = [(tenure of life insurance x Annuity due factor for 20 years) accumulated value of dividends for 20 years] / annuity due factor for 20 years x 100 = [(230 x 34.719) 2353)] / (34.719 x 10) = $1.622 The above figure of annual net payment cost index indicates that if the stated policy is held by the client for 20 years and then the client continue to hold it or died, it would cost $1.62 per $1000 per year(Gaines, 2008). Conclusion Lessons learned An educationally competent insurance agent is a Chartered Financial Consultant (ChFC) or Chartered Life Underwriter (CLU) or Chartered Financial Planner (Raynes, 2013). In addition to having proper educational qualifications, an insurance agent needs to be technically competent and a good advisor. Interest adjusted cost method is more appropriate than traditional cost method because of the fact that the former one takes in to account time value of money(Gaines, 2010). In order for an insurance company to make profit, annual net cost index has to be positive Annual net payment cost index is usually higher than annual surrender cost index (Zartman and Price, 2014) Recommendations A number of recommendations have been given at the end of the thesis. First an insurance clients should take in to account professional qualifications, technical competencies and advisory capabilities of an agent before purchasing a life insurance from him or her. Second an insurance client should make sure that his or her insurance costs are calculated through interest adjusted cost methods and not through traditional cost method as the former one is more efficient than the later one(Gerber, 2008). Third, an insurance company should not make a deal until and unless annual net cost index is positive, otherwise the company would make a loss from the deal. References Cockerell, H. (2005). Insurance. London: English Universities Press. Gaines, P. (2008). Interest-adjusted index. Cincinnati: National Underwriter Co. Gaines, P. (2010). Interest-adjusted index; life insurance payment and cost comparisons. Cincinnati. Gaines, P. (2012). Cost facts on life insurance: interest-adjusted method. Cincinnati: National Underwriter Co. Gerber, H. (2008). Life insurance mathematics. Berlin: Springer. Hardy, E., Huebner, S., Michelbacher, G. and Mudgett, B. (2007). Insurance. New York: Alexander Hamilton Institute. Huebner, S., Black, K. (2006).Life insurance. Englewood Cliffs, N.J.: Prentice-Hall. Maclean, J. (2005).Life insurance. New York: McGraw-Hill. Maclean, J. (2009). Life insurance. New York: McGraw-Hill. Magee, J. (2010). Life insurance. Homewood, Ill.: R.D. Irwin. McGill, D. (2013). Life insurance. Homewood, Ill.: R.D. Irwin. McKnight, R., Reuter, J., Zitzewitz, E. (2012).Insurance as delegated purchasing. Cambridge, Mass.: National Bureau of Economic Research. Murphy, S. (2010).Investing in life. Baltimore, Md.: Johns Hopkins University Press. Raynes, H. (2013). Insurance. London: Oxford University Press. Sneyd, M. (2013).Insurance. New York: Prentice Hall. Vogel, R., Blair, R. (2007).Health insurance administrative costs. Washington, D.C.: U.S. Department of Health, Education, and Welfare, Social Security Administration, Office of Research and Statistics. Zartman, L. and Price, W. (2014). Life insurance. New Haven: Yale University Press. Zartman, L., Price, W. (2011).Life insurance. New Haven: Yale University Press.