Sunday, May 24, 2020

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†

Wednesday, May 13, 2020

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

Wednesday, May 6, 2020

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

Sunday, May 3, 2020

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.

Friday, March 27, 2020

Establishing a Daily Writing Routine

Establishing a Daily Writing Routine There are some specific things which every writer needs: developed creativity, inspiration, dedication, talent. However, there is also one thing which influences all those mentioned before – the writing routine. Only writing routine helps to become a productive and confident writer. Actually, any writer who wants to succeed and achieve one`s goals needs to have and follow a writing routine. Working without a writing routine can easily lead you to the trap of procrastination, or you may be disappointed that your work flows in the wrong direction. In fact, a routine makes writing a regular habit. It really works, by the way! So, how to establish a proper daily writing routine for yourself? Let`s take a look at some useful tips concerning this issue. Be sure to find something that will help you! FocusThe first thing you have to do is to focus on that piece of work you are now involved in. Shut on all distractions that may interfere your attention. The more focused you are, the better product you will create. So, dive into the world of writing!Start your work earlyIt is stated by a lot of people that the most productive time is early in the morning. So, do not miss a chance to work during those hours. It really works, since your mind is still cleat but with a great number of new ideas that just need to be put on a paper. In addition, you will spend the rest time of a day being proud of your earlier achievements.Keep a writing log It is a good idea to record or make some notes about how much you write each day. You will see then which days are more and less productive. Be sure that this process will make you more motivated, as well as it will bring you some satisfaction to see the progress. Anyway, it ensures that you will stick to your daily writing routine.Tell your friends and family about your achievementsLet your friends, family members and close people know about your writing achievement. Ask them about the feedback. This act of verbalization will help you to follow the tempo, since every time you will want to show them new results and achievements. You will be more motivated to provide those people with a new material not to spoil their expectations.Try word sprints methodThis method is a great way to put all words from your mind onto the page. For example, you have a short period of time, let it be 30 minutes. During this time, you need to be involved in writing with no breaks and distractions. The aim of this method is to write down as many words as possible, giving yourself a freedom to write quickly and freely. Word sprints can be used in order to establish a daily writing routine.Create a special writing space Many writers consider that a proper writing space influences a lot a daily writing routine. That`s really true. It is extremely useful to have a place that is just for writing and where you can escape from ordinary life and dive into a fictional world. Any writer should have such place when it comes to establishing writing as a regular habit. These easy tips will help everybody to become a confident writer and develop a writing routine. Stick to what you do and love what you do. These things are also of great importance!

Friday, March 6, 2020

Free Essays on Santa Ana

â€Å"Antonio Lopez de Santa Anna† Santa Anna was born in Jalapa, in the province of Veracruz on February 21, 1795. At age 16, he began his military career fighting for the Spanish, but switched sides to support Augustin de Iturbine as the main man of an independent Mexico. As a young military officer, he supported Emperor Agustin de Iturbide, and at one time courted the emperor's sister. He later rebelled against the government and gained support. By 1833, he was elected to president of Mexico by a democratic election. He then thought that Mexico was not ready for democracy and pronounced himself dictator. In 1835, Texas, which was then a part of Mexico, revolted against the Mexican government. The population of Texas included many settlers from the United States, and cultural and legal differences between Mexicans and the settlers had led many Texans to oppose Mexican rule. Santa Anna rushed north to put down the revolt. He attacked San Antonio and stormed the Alamo in March 1836, with an army that outnumbered the Texans. Santa Anna's troops captured the Alamo, and then met the main Texas army under General Sam Houston at San Jacinto. Santa Anna's army was captured, and he was taken prisoner. The Texans forced Santa Anna to sign a treaty acknowledging the independence of Texas. But the treaty was rejected in Mexico City, and Santa Anna was removed from power. In 1838, the French attacked Veracruz. From 1841 to 1844, he was president of Mexico again. In 1844, there was a revolt against him, and he fled to Jamaica. War broke out with the United States in 1846. Santa Anna returned to Mexico and took command of the army. The American forces defeated him at Buena Vista, at Cerro Gordo, and at Chapultepec. After the fall of Mexico City, Santa Anna left Mexico for several years. In 1853, he returned to Mexico and became president again. He declared himself president for life but within two years was again overthro... Free Essays on Santa Ana Free Essays on Santa Ana â€Å"Antonio Lopez de Santa Anna† Santa Anna was born in Jalapa, in the province of Veracruz on February 21, 1795. At age 16, he began his military career fighting for the Spanish, but switched sides to support Augustin de Iturbine as the main man of an independent Mexico. As a young military officer, he supported Emperor Agustin de Iturbide, and at one time courted the emperor's sister. He later rebelled against the government and gained support. By 1833, he was elected to president of Mexico by a democratic election. He then thought that Mexico was not ready for democracy and pronounced himself dictator. In 1835, Texas, which was then a part of Mexico, revolted against the Mexican government. The population of Texas included many settlers from the United States, and cultural and legal differences between Mexicans and the settlers had led many Texans to oppose Mexican rule. Santa Anna rushed north to put down the revolt. He attacked San Antonio and stormed the Alamo in March 1836, with an army that outnumbered the Texans. Santa Anna's troops captured the Alamo, and then met the main Texas army under General Sam Houston at San Jacinto. Santa Anna's army was captured, and he was taken prisoner. The Texans forced Santa Anna to sign a treaty acknowledging the independence of Texas. But the treaty was rejected in Mexico City, and Santa Anna was removed from power. In 1838, the French attacked Veracruz. From 1841 to 1844, he was president of Mexico again. In 1844, there was a revolt against him, and he fled to Jamaica. War broke out with the United States in 1846. Santa Anna returned to Mexico and took command of the army. The American forces defeated him at Buena Vista, at Cerro Gordo, and at Chapultepec. After the fall of Mexico City, Santa Anna left Mexico for several years. In 1853, he returned to Mexico and became president again. He declared himself president for life but within two years was again overthro...

Wednesday, February 19, 2020

Relating to video Essay Example | Topics and Well Written Essays - 1500 words

Relating to video - Essay Example While this particular film is able to provide an overview to the current conflicts and the complexities of the region, there is still the need to move further into the history of Jerusalem and the practice of religions that continue to dominate over the region. Historical Feedback of Film There are several balanced points with the history of the film, as well as limitations in recounting the realities of the three faiths in Jerusalem. Generally, the narrative of including the Jewish, Christian and Islamic religion into one film is one which defines an equal balance. The viewer is able to see how each of the dynamics between the religions works within the region and represents a component of life among those that are involved in Jerusalem. More important, the timing for each one, personal stories and the link to the basic history of the development of the religions is balanced. The viewer is able to get an overview of what occurred in the region as well as how this has affected others that are living in the region today. The concept of balancing the history is one which is also seen as effective in terms of relating the 4000 year history to today. The narrators are able to show how the long history can be traced back by all of the religions. This, in turn, becomes a reason behind the conflicts today. Most of the historical conflicts become ingrained with each of the generations, religious beliefs and the aspects that are associated with the region. These are combined with an understanding of how some of the central conflicts, because of their deeply rooted problems with obtaining the Holy Land, have led to continuous misunderstandings at a social, political and individual viewpoint. The video is able to interpret this specific understanding of history clearly and effectively. This specific balance then gives the viewer a general insight into the complexities of both history and the current day conflicts that are a part of the region. While there is a balance fro m this perspective in terms of the historical feedback, there are also several elements that limit what is told from all three perspectives. The first type of imbalance is from the timing of the video. This doesn’t provide in – depth insight into the historical findings, different interpretations and other livelihoods of what has occurred within all three religions. Instead, it skims the surface of what is occurring and creates a generalized dynamic about the specific region. When one moves into the deeper history of Jerusalem or looks at other aspects or perspectives, different pieces of information may be found that are either contradictory or which provide further insight outside of what the film offers. The imbalance between stories continues with the perspective which is taken in terms of the audience. The historical component is to look at how the 4000 year old history has affected Jerusalem and created roots of conflict in the city. This is followed by the persp ectives which show the deeply rooted opinions and behaviors of those who are in the city. The movement into the roots and the examination of how the ideals are today leads to a gap in the history. There is an understanding of what has occurred in the beginning and how this has changed today. However, there are other layers of history