Young People Need to Spend Less Money and Save More

Young People Need To Spend Less Money And Save More Human beings have different thoughts about their life. Some of them believe in enjoying life without considering anything, but some others believe in saving money for their future. But it is better for young people like me to save their money instead of spending it carelessly. Because young people have lots of expenses in the future, like education, unpredictable emergencies, besides that the job market is not steady. So it is better for youngers to save more and spend less.One of the reasons that make youngers to save money and spend less is education expenses. Education is expensive so young people like me cannot totally depend on our parents to pay all the bills. We have tuition, books, maybe rent and other educational expenses to pay for. Even though our parents help us, but we have to pay part of it. So we should save some of our money for that. The other reason that saving money in youngers is better than spending it carelessl y is emergency situations.Emergencies could occur any moment. For example one of our family member may need help and we will have to give them money, or one of our parents might have an unexpected injury or serious illness and they could not go to work for some time so we must have some savings for that emergency moments in our life. Besides that there is other reason for younger people to save more and spend less and it is the oscillation of the job market. The job market is not steady, specially these days.Due to oscillation in the job market we cannot predict what will happen next. For example one of my friend lost her job due to recession. She did not get a job for about one year and a half, but she had savings so she was able to overcome that bad situation, like paying rent, grocery, car loan and other bills. Without an income it is difficult to pay for these. It shows that if she did not have the habit of saving money, then she could not have managed hat situation. In the conc lusion I must say that saving is a very good tendency for young people and it will never let a person down. You must plan a head. Youngers should know they will have expenses for their schooling, they also should know that they might be confront with an unexpected emergencies in life, besides that they know the oscillation of the job market so they must be prepared. They need to save money for these events.

Unilever Strategy for Organising and Structuring Its Global Operations.

Unilever is a complex global organization that has a portfolio of 400 brands, spanning 14 categories in home and personal care and food products. The company has 163,000 employees in the 170 countries within which it operates (Unilever, 2010). Organizations such as Unilever face the challenge of configuring a global structure that â€Å"works well in diverse locations but also brings units together in a coordinated fashion† (Shenkar & Luo, 2007, p. 312). Given its wide range of products and the diversity of countries in which it operates, Unilever has to employ a global organizational strategy that addresses its global complexity and the diversity of its product portfolio. In its portfolio, there are some product lines that can be extended to new markets with little or no modification, while there are others that need to be modified to suit the local preferences. For example, chemical products are highly standardized and require little variation for local markets (Child, 2005, p. 45). Standardization of such products creates economies of scale in production and requires a â€Å"high level of global coordination and integration† (Child, 2005) and centralized R&D. On the other hand, some of Unilever’s products, such as packaged foods, require modification to suit local tastes and cultures. There are no production economies of scale for such categories and product development has to be facilitated locally. These factors present two scenarios for the company – striving for high global integration in the case where products can be introduced to new markets without modification and striving for high local responsiveness where there is need for modification to meet local preferences. Unilever has to therefore adopt a global organizational structure that addresses the two scenarios. The organization employs a transnational strategy, which is best suited for Unilever’s global operations, as it is faced with high pressure for both local responsiveness and global integration (Child, 2005, p. 43; Shenkar & Luo, 2007, p. 312). Unilever also uses the transnational strategy to organize its functions. Its sales, distribution and promotional tasks are locally responsive and are decentralized to suit individual markets, whereas the R&D function is globally integrated to leverage learning in the different markets. The transnational strategy enables Unilever to leverage the advantages of low cost in conjunction with the advantages of differentiation. Unilever adopted the transnational strategy mainly in esponse to competition from Procter and Gamble, which was already pursuing a transnational strategy by 1990 (Child, 2005, p. 247). However Unilever is still lagging behind P&G, in terms of revenues, marketing and innovation, because it has faced difficulty in reorganizing its activities to meet the requirements of a transnational strategy. The transnational strategy is both demanding and expensive to implement. It also requires a â€Å"flat† hierarchy (Child, 2005, p. 249) and Unilever has gone through a process of reorganizing its structure through the â€Å"One Unilever† programme, which was launched in 2005. The programme resulted in â€Å"better allocation of resources, faster decision-making and a lower cost level† (Unilever, 2007) and enables the organization to leverage its scale both globally and locally. References: †¢ Child, J. (2005) Organisation: contemporary principles and practice. Malden, MA: Blackwell Publishing, pp. 241-253 †¢ Shenkar, O. & Luo, Y. (2007) International business. 2nd ed. Thousand Oaks, CA: Sage Publications. †¢ Unilever Website. Available from: http://www. unilever. com

A Social Partnerships in the New Millenium

Social partnership is very fashionable right now. It has become the new â€Å"buzzword† in Industrial Relations. The ‘new' government, the TUC and the CBI are all promoting partnership at work, every week there is another conference held somewhere in the country on the topic of partnership. There is also a huge amount being written about the issue, some Industrial Relations commentators have even hailed this as the most exciting thing to happen to UK industry in years. However, not every group completely agrees with this. For example, some groups believe that Social Partnership has had a very negative effect on British Trade Unions. At www.labournet.org.uk a group have named a bulletin board ‘Solidarity'. It is a page dedicated to ‘challenging social partnership' and it's apparent corrosive effects on union power. It is very typical of the types of arguments put forward by groups that are oh so against social partnerships. Stakeholders like the authors of solidarity believe that social partnerships tie unions to the coat tails of employers. What they want is a ‘new unionism' which opposes subordination to the ‘global market' and builds on the experience of the Liverpool Dockers. This group is completely opposed to any kind of privatisation and really wants more from unions than just a concern for working conditions. They want a break â€Å"..with the narrow work place concerns of ‘non-political' trade unionism† and believe that unions should fight † for the interests of the working class and oppressed as a whole†. They also see a need for a repeal of all â€Å"anti-union† legislation and an end to state interference into unions, such as social partnership agreements. Taken from ‘Solidarity', the journal that openly states it's purpose is to challenge social partnerships in trade unions, here are some ‘facts' that display how social partnerships have had a harmful effect on British trade unions: In Rover and the car industry, where the unions have identified the interests of workers with commercial success in the ‘global market', they have been gravely weakened and meekly accepted massive job cuts. USDAW has reached a ‘Partnership Agreement' with Tesco which takes away the right of the union members as a whole to vote on pay deals. The TUC has collaborated with a privatised utility in the Energy Industry and set up a company with them – Union Energy – thus effectively abandoning the fight for re-nationalisation. They are collaborating with a privatised utility which has decimated trade union members' jobs. The unions have swallowed ‘Investors in People' which identifies the interests of union members with the ‘business aims' of private companies. The TUC and most unions have accepted that the increased competition of the ‘global market' means unity with ‘our employers' and competing with workers in other countries. Stakeholders like these aim to challenge social partnership by campaigning for complete independence of the unions from the employer. They reject globalisation and counterpoise to it a working class internationalism which recognises that workers have more in common with those in other countries than they do with ‘our own' bosses. It is a very Marxist standpoint . They feel that for those in the unions who support their independence from the employers and the state, a systematic struggle against ‘social partnership' in all its manifestations is a central task if they are to break the unions from the employers' coat tails. They are insistent that this outlook has only been adopted by union leaders. It has though percolated down to many workplaces, reinforced by the fear of unemployment. This far left view contrasts greatly with those unions that actually see social partnership in a very positive, if slightly unclear light. Unions like FIET, The International Federation of commercial, clerical, professional, and technical employees see social partnership as a â€Å"new and challenging area of work for the union.† For unions that see the millennium as a time to accept social partnership, it will mean unions and companies learning to do things differently, rather than trying to campaign against this change. Some unions like FIET have accepted that we now have a government committed to promoting the partnership approach, and to ensuring that it becomes a permanent feature in the workplace. Unions like this have therefore accepted that social partnership is going to be around for a long time. I think that left wing reactions to social partnerships, like that of ‘Solidarity' is very much a reactive one rather than considered. I think that those stakeholders set so strongly against this issue need to understand that the government's political commitment to partnership goes far beyond the UK. We now have a new and positive approach to Europe and this social partnership model is at the heart of the EU's approach to all Industrial Relations. Indeed Social Partnership does mean long term changes to the Industrial Relations scene in Europe and in Britain, all that unions need to work on is understanding what these changes will mean for their members and the companies that they work in. Looked at from this more positive, optimistic standpoint then social partnership has the potential to deliver some very real benefits: Potentially it means that employers will be working with the trade unions to bring about improvements in the quality of work. It means that employees, through their trade union, will be given a much greater say in how their company is run. Social partnership should give unions the opportunity to be consulted earlier, more often and on a wider range of issues than has happened before. Surely the growth in partnership at work can only be a welcome one, if not somewhat overdue? However, these encouraging and upbeat pointers can only be achieved if the unions get themselves involved in equal terms right from the beginning, otherwise employers could try to do things without the unions. As stakeholders like ‘Solidarity' state I think that there is indeed a risk that social partnership may be used to try and undermine trade union organisation in the work place. Employers could potentially claim that they can have a partnership directly with their staff and do not require the union's participation. If the unions are excluded in this way then not only could there be disastrous consequences for union members but social partnership will not work for employers either. Partnership can only be successful when employees as partners are properly supported and resourced through a dependable trade union. To illustrate this point further, let us consider what may happen if the retail sector tried to introduce partnership without trade union involvement : Most employees in this sector work part-time. There are increasingly complex and unsociable working hours in retailing which in turn means that most employees may have very little contact with anyone beyond their shift. In these circumstances employees have less of an opportunity to form a collective view. Simply meeting together can be extremely difficult in such organisations, let alone having the resources and confidence to develop their own ideas and concerns. Therefore it is clear that in most cases employees are unlikely to become equal and effective partners when they do not have the time or the means to generate their own agenda. A dependable and experienced trade union means that employees can enter into partnership properly supported and resourced. To achieve this, a real commitment is required from employers to supporting trade union membership, as the best way for their staff to be given a voice and more importantly the confidence to use it. Basically partnership needs partners. But how will social partnership actually change things in real terms for employees and the unions? By answering this question I will hopefully be able to assess if social partnership is a viable way forward in the new millennium. Firstly, unions need to take a positive approach, for them social partnerships should be about: Co-operation, not confrontation. Improving the quality of working life. Employers listening to and respecting unions and vice versa. Employees developing their own agenda through their trade union. If they agree on the above terms then hopefully it will mean: Moving away from the common practice of the union only talking to companies once a year. At the moment, even with companies with whom there exists a good relationship, unions often only talk to the organisation at the time of the annual wage negotiations. Many unions feel that the annual wage round sometimes becomes a little tired and predictable, with companies offering the lowest increase that they feel they can get away with. However, partnership is different. For the unions, it means talking to companies throughout the year. It means having a constant dialogue with employers about what is happening at all levels of the company. It should also mean that the union is consulted on a wider range of issues. Companies are used to contacting unions when they are implementing redundancies or sell offs. Mainly because there is a legal obligation on them to do this, but unions have not in the past been consulted on the overall direction of a company or about strategic decisions that may affect employees. A Social Partnership means that the union should be consulted on a far wider range of issues than they have been used to. It means earlier and better consultation sessions, theoretically no more being told about something when it has already been implemented.

Enterprise Rent-A-Car A Market-Driven Company Case Study

Enterprise Rent-A-Car A Market-Driven Company - Case Study Example In order to ensure that it meets it aim, the Enterprise relates to other institutions such as insurance toward providing proper services to its customers. The case analysis makes use of customer value funnel in order to realize the way the company relates to its macorenvironmental and microenviromental. The company acts as the biggest company offering the rental cars to the public. The macroenvironmental drivers include Society and subcultures, Demographics and Psychographics, Economic Factors, Natural-Physical Factors, Political-Legal Factors, Technological Factors while the microenviromental drivers include, Collaboration, Competition, Suppliers and Regulators.The company must always put proper strategies towards manipulating the macroenvironmental factors to help in delivering continuous value to the customer.Society and subcultures.The society and the existing subcultures is important when studying how the Enterprise strive towards ensuring continuous value to the customer. The E nterprise have to consider the essential needs of the society, which always affect the taste of the individuals about the product or service they consume. For instance, the company maintain the need for a friendly environment to ensure that it does not interfere with everyday activities of the residents. The company has established a fuel efficient rental car opportunity which is a step towards offsetting the amount of carbon released in the atmosphere. Demographics and Psychographics Study of demographic is significant since it helps in showing how the company is striving to serve its potential customers in a given geographic location. The company also consider the need to reach a wider part of the market in order to provide services for all their potential customers. The case study shows that the enterprise has established branches and is in the process of increasing its size in order command larger part of the market (Weinstein, 2012). This have allowed the company to offer local ized response to its potential customers. Economic Factors This refers to how the company relates to the global economy towards achieving profits. The case analysis shows that the Enterprise has been able to gain control in the North American rental car industry. This is a step towards enlarging the market share of the company which ultimately led to improvement in the profit. Technological Factors This refers to how the company is striving to improve its services to the customers through application of technological advancements. Technological advancement is significant for every contemporary firm especially when there is need to avoid becoming obsolete (Weinstein, 2012). The company looks forward to develop iPhone application

Outline the similarities and differences in the marxist and liberal Essay

Outline the similarities and differences in the marxist and liberal approaches to understanding the state - Essay Example Very few countries in the world even consider themselves Marxist anymore and the economic systems as well as the approach taken to the state is often a mixed one for former Marxist countries. Nevertheless, the ideas presented by Marxist theorists remain important because there are quite a few supporters of Marxism and Marxist theories in the world even where the majority holds the liberal approach. Perhaps the best representation of the ideas behind Marxism is given in the communist manifesto which was written jointly by Karl Marx and Friedrich Engel. The Communist Manifesto was first published in 1848 and the book deals with the program of the communist party as well as the purposes of its foundation. In essence the viewpoint taken by the Marxist approach to the state focuses on the conflict between proletariats and the bourgeoisie (Avineri, 1968). Ideally, for a Marxist, the conflict would result in the overthrow a capitalist state system which exploits workers that controls the means of production. The eventual aim of the Marxist viewpoint is to create a state that remains classless as opposed to a liberal state which can result in the creation of rich and poor classes (Drydyk, 1991). Even though the book was written almost a hundred and fifty years ago, it still remains relevant today since the class struggle and the negative effects of capitalism remain present in many societies. After laying down the idea that communism is not understood and feared unnecessarily, the communist manifesto initiates the section on Bourgeois and Proletarians where many famous sayings of Marx are placed. For example, Marx suggests quite clearly that all history is nothing more than the story of class struggles between the haves and the have-nots and this essentially becomes the view of the state as a propagator of the class system when it is under a liberal

Genocide is a neglected topic within criminal justice and criminology Essay

Genocide is a neglected topic within criminal justice and criminology. Critically analyse this statement - Essay Example tem locally or internationally seems to show a lack of enthusiasm, if such a word is possible, in creating stricter guidelines and punishments when it comes to genocide as compared to how they are, for example, in improving rules with regard to other criminal activities. Genocide is a word used by the late Jewish Polish laywer Raphael Lemkin [Balakian 2013] to describe what the Nazis did to the Jews. Later on, it was further defined by the Convention on the Prevention and Punishment of the Crime of Genocide as any of several listed acts conducted with an intent to destroy, partially or completely, a national, ethnical, racial or religious group. (Akhavan 2007) Genocide was an evil that took the lives of countless of innocent Jewish adults and children. Unfortunately, during that time the criminal system did not have set laws to punish mass killings. The ones accountable were just punished for criminal acts in relation to international armed conflict. The carefully planned execution of the Jews by the Nazi soldiers in the Holocaust is a prime example of genocide. Unfortunately, those responsible for the killings were not charged for genocide as the term did not even exist in that period. Following its establishment as an international crime, the act of genocide reappeared in history only decades later, during the Bosnian conflict to be more specific. This was the time to see criminal justice make a stand on genocide based on the definition set during the Convention. Unluckily for the victims, their deaths have remained dishonored as those left behind are divided as to whether or not the acts fall under the definition of genocide. (Cooke-Welling 2012) This is where criminal justice appears to have neglected genocide. When it had mattered the most, the criminal justice system are still trying to reach a decision on whether the ethnic cleansing that happened in many parts of Bosnia can be considered genocide according to the established definition. Currently,

35 Years for Wikileaks Essay Example | Topics and Well Written Essays - 250 words

35 Years for Wikileaks - Essay Example Hence, the prosecution awarded him a severe punishment of imprisonment, perhaps the longest period of confinement. Analyzing this punishment to a soldier in uniform is an inspiration and lesson for every military officer. Although it is an American issue, the impact of this incident on other countries cannot be ignored. The given punishment clearly indicates the importance of maintaining the secrets military activities. Thus, the other nations also understand how cruel and unethical activities were carried out by the US military. It also paves a way to protest against such operations as they cannot justify and defend their heinous act of murdering. Moreover, it points out the world about an insecure life of a soldier from every corner. This type of punishment and activities by the court martial can make man critical minded. Firstly, how could an individual like Bradley Manning in military is offered with all details of military activities? Does it reveal the weakness of military system in preserving documents and information? Secondly, is it a drama being played to reveal the power of the military to scare rival nations about the aftermaths of their illegal activities? Lastly, if such kinds of activities are undertaken what is expected in the future? Would the nest generation be fortunate to know what harmony is? Simpson, I & Roshan, M. (Aug 21, 2013). U.S. soldier Manning gets 35 years for passing documents to WikiLeaks. Reuters. Retrieved from

Monique and the Mango Rains Essay Example | Topics and Well Written Essays - 750 words

Monique and the Mango Rains - Essay Example The town lacks running water in taps, trained doctors, have inadequate food, water and most people suffer from malaria, intestinal parasites and HIV aids. The book contains different instances of in equality, which occurs in marriage, family, economy, labor division and sexuality among others (Holloway & Bidwell, 2007). Gender inequality and social stratification from an anthropological perspective This refers to the classification method that groups sexes differently and it views women to be unequal in power, resources that they own, prestige and presumed worth. In this book, the author realizes dissimilar issues of gender inequality during her stay in Mali. There is gendered inequality in women whereby they face discernments in different areas thus lacking good opportunities to improve their status. Women face gender inequalities in health facilities while complying with their traditional role of child bearing hence seeking for assistance from traditional birth entourages. This bir th giving method endangered Malian Manianka women as they stayed in labor pain for a very long period and the midwife had no painkillers to relieve the pain. Based on diminishing health facilities that assist women while giving birth, most of them suffered from genital ablation while still in their childhood stages. The inequality that existed among the Malian Manianka women caused too many losses. This is because one in every twelve women died while giving birth and one in every fifteen children died at birth. The town also had rape instances, whereby Monique tells that her first sex experience was through rape (Holloway & Bidwell, 2007). The book illustrates a high rate of inequality in the marriages among people of Malian Manianka, because women do not get married willingly and they lack satisfaction. According to the author, women faced many problems generating from their communities. Women of this town had no permission to decide when to get married; instead, their parents forc ed them at a very young age. After getting married, women gave birth to many children, and they were banned from using contraceptives, which made Mali a very populated country in Africa. Marriages had gender violence mainly to those women that failed to accomplish their traditional role of child bearing. In this village, immediately after a woman gives birth, she only stays for few hours and resumes to her normal roles. This shows how men in Malian Manianka are not concerned with their marriages by not carrying on the women’s duties after birth to allow them recover. There is inequality among families in this town because no one has permission to choose his/her preferred family; instead, the community chooses for them. Monique the midwife is an example of such family whereby her marriage resulted from the cultural practice of choosing husbands. This resulted to infidelity in her marriage as Monique had an affair with Pascal the man that she loved in order to get satisfaction. Franois husband to Monique failed to meet his parental responsibilities by not providing his family with basic needs (Holloway & Bidwell, 2007). Instances of gender in equality in this book are also common to families. This is because most women in the book are unhappy in their marriages, but they cannot divorce their

Writing a Profile Essay Example | Topics and Well Written Essays - 500 words

Writing a Profile - Essay Example Potential employees are required to fit in the firm according to the firm’s requirements and the intended performance taking in to consideration the set company wages. Since human resource management has been used to vet most of the employees joining a firm, there has been an influx on non-genuine firms to help in the evaluation and vetting of potential employees. Whenever there is an increases job demand, the appropriate supply should be available to compensate for the vacant jobs. International based business entities have come up with strategies to include vetting firms to interview their employees. This has led to establishment in vetting organizations such as the one i serve. The interviewing process is there to satisfy both the company and the employee who is chosen by having him/her understand what the job requires. A clear job description serves motivational purposes and helps have the company get the best performance from employees straight from day one of the job. Jo b description is a list of the required job qualifications or skills and salary range used by the interviewer in order come up the best-fit employee for the available position (Byers, 24). I being a human resource officer I was offered a job by a startup engineering company known as Liska engineering company. The company is located in the outcasts of New York City.

Development of human resources in small business Research Paper

Development of human resources in small business - Research Paper Example the paper, it is going to have the following structure: introduction, theoretical concepts of human resource management, analysis of recruitment process, background information about small business, analysis of the situation with human resource management in small business, conclusions, and recommendations. HRM is the organizational function that deals with issues related to people such as compensation, hiring,  performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training. (â€Å"HRM Definition†). However, it is the whole concept that consists of various different processes. For example, one can mention looking for potential employees, education of students, continuous training, and education of own employees, etc. It has been already much said about the importance of this process. That is why any company should build an effective strategy of human resource management. Among the most important process of human resource management the following ones may be pointed out: recruitment, education, performance management, promotion, etc. Recruitment is probably one of the most important processes. Recruitment process consists of internal and external recruitments. Simply speaking, internal recruitment is the process of evaluation and hiring own employees of a company to occupy new positions in a company. Usually, this process is associated with promotion of employees. Simply speaking, external recruitment is the process of hiring people who are not the current employees of a company. Usually, these processes are toughly related and used together in the process of recruitment by a company. It should also be mentioned about recruitment methods and strategies. There are many recruitments strategies, methods, and instruments. A company uses those ones that are the most appropriate foot it in a given circumstances. Some of them are more expensive, some of them are less. Some of them require

ServerVault Case Study Example | Topics and Well Written Essays - 250 words

ServerVault - Case Study Example The contribution margin shall be the total revenue minus the overhead costs per unit. The overhead costs are $50,000. The break even point is thus the total overhead costs divided by the contribution margin. This equals $(50,000/1.300=38). The break even point is thus 38 servers. This number is important given that it determines the number of units that should be sold to earn a profit. In this case, it is 39 units or more. The key drivers behind cash generation on consumption for ServerVault are the security features it offers and it reliability. While the security feature is seven-layered and has thus met the U.S. Department of Defense security standards, the reliability feature results from its use of multiple internet access points. The revenue from the facility is $1,300 as a result of the two drivers. The cash consumption from the premises and the facilities installed is due to the fact that ServerVault has not reached its breakeven point. Beyond this point, the business would be profitable. With the total number of the servers (Dec-02) at 14,137,000 from a mere 3 in January of 2000, the business is promising. The cash position keeps improving too. From a difference of less than $20,000 in January 2000, the cash position improved to a difference of more than $1.5m in May of the same year. To this end, ServerVault should concentrate on reducing debt while increasing its returns to hit the breakeven point soon enough. This will win the confidence of investors and thus allow for injection of more capital for its

Chinese philosophy Essay Example for Free

Chinese philosophy Essay Taiji (literally great pole) is a Chinese cosmological term for the Supreme Ultimate state of undifferentiated absolute and infinite potentiality, contrasted with the Wuji ( , Without Ultimate). The term Taiji and its other spelling Tai chi (using Wade-Giles as opposed to Pinyin) are most commonly used in the West to refer to Taijiquan (or Tai chi chuan, ), an internal martial art, Chinese meditation system and health practice. This article, however, refers only to the use of the term in Chinese philosophy and Daoist spirituality. Contents [hide] 1 The word 2 Taiji in Chinese texts 2. 1 Zhuangzi 2. 2 Huainanzi 2. 3 Yijing 2. 4 Taijitu shuo 3 Core concept 4 See also 5 References [edit]The word Chinese taiji is a compound of tai ? great; grand; supreme; extreme; very; too (a superlative variant of da ? big; large; great; very) and ji ? pole; roof ridge; highest/utmost point; extreme; earths pole; reach the end; attain; exhaust. In analogy with the figurative meanings of English pole, Chinese ji ? ridgepole can mean geographical pole; direction (e. g. , siji four corners of the earth; worlds end), magnetic pole (Beiji North Pole or yinji negative pole; anode), or celestial pole (baji farthest points of the universe; remotest place). Common English translations of the cosmological Taiji are the Supreme Ultimate (Le Blanc 1985, Zhang and Ryden 2002) or Great Ultimate (Chen 1989, Robinet 2008); but other versions are the Supreme Pole (Needham and Ronan 1978), Great Absolute, or Supreme Polarity (Adler 1999). [edit] Taiji in Chinese texts Taiji references are found in Chinese classic texts associated with many  schools of Chinese philosophy. Zhang and Ryden explain the ontological necessity of Taiji. Any philosophy that asserts two elements such as the yin-yang of Chinese philosophy will also look for a term to reconcile the two, to ensure that both belong to the same sphere of discourse. The term supreme ultimate performs this role in the philosophy of the Book of Changes. In the Song dynasty it became a metaphysical term on a par with the Way. (2002:179) [edit]Zhuangzi The Daoist classic Zhuangzi introduced the Taiji concept. One of the (ca.3rd century BCE) Inner Chapters contrasts Taiji great ultimate (tr. zenith) and Liuji six ultimates; six cardinal directions (tr. nadir). The Way has attributes and evidence, but it has no action and no form. It may be transmitted but cannot be received. It may be apprehended but cannot be seen. From the root, from the stock, before there was heaven or earth, for all eternity truly has it existed. It inspirits demons and gods, gives birth to heaven and earth. It lies above the zenith but is not high; it lies beneath the nadir but is not deep. It is prior to heaven and earth, but is not ancient; it is senior to high antiquity, but it is not old. (tr. Mair 1994:55) [edit]Huainanzi The (2nd century BCE) Huainanzi mentions Taiji in a context of a Daoist Zhenren true person; perfected person who perceives from a Supreme Ultimate that transcends categories like yin and yang. The fu-sui (burning mirror) gathers fire energy from the sun; the fang-chu (moon mirror) gathers dew from the moon. What are [contained] between Heaven and Earth, even an expert calculator cannot compute their number. Thus, though the hand can handle and examine extremely small things, it cannot lay hold of the brightness [of the sun and moon]. Were it within the grasp of ones hand (within ones power) to gather [things within] one category from the Supreme Ultimate (tai-chi ) above, one could immediately produce both fire and water. This is because Yin and Yang share a common chi and move each other. (tr. Le Blanc 1985:120-1) [edit]Yijing Taiji also appears in the Xici Appended Judgments commentary to the Yijing, a late section traditionally attributed to Confucius but more likely dating to about the 3rd century B.C. E. [1] Therefore there is in the Changes the Great Primal Beginning. This generates the two primary forces. The two primary forces generate the four images. The four images generate the eight trigrams. The eight trigrams determine good fortune and misfortune. Good fortune and misfortune create the great field of action. (tr. Wilhelm and Baynes 1967:318-9) This two-squared generative sequence includes Taiji, Liangyi Two Polarities; Yin and Yang, Sixiang Four Symbols (Chinese constellation), and Bagua Ba gua. Richard Wilhelm and Cary F. Baynes explain. The fundamental postulate is the great primal beginning of all that exists, tai chi – in its original meaning, the ridgepole. Later Indian philosophers devoted much thought to this idea of a primal beginning. A still earlier beginning, wu chi, was represented by the symbol of a circle. Under this conception, tai chi was represented by the circle divided into the light and the dark, yang and yin, . This symbol has also played a significant part in India and Europe. However, speculations of a Gnostic-dualistic character are foreign to the original thought of the I Ching; what it posits is simply the ridgepole, the line. With this line, which in itself represents oneness, duality comes into the world, for the line at the same time posits an above and a below, a right and left, front and back – in a word, the world of the opposites. (1967:lv) [edit]Taijitu shuo Zhous Taijitu diagram The Song Dynasty philosopher Zhou Dunyi (1017-1073 CE) wrote the Taijitu shuo Explanation of the Diagram of the Supreme Ultimate, which became the cornerstone of Neo-Confucianist cosmology. His brief text synthesized aspects of Chinese Buddhism and Daoism with metaphysical discussions in the Yijing. Zhous key terms Wuji and Taiji appear in the opening line , which Adler notes could also be translated The Supreme Polarity that is Non-Polar! . Non-polar (wuji) and yet Supreme Polarity (taiji)! The Supreme Polarity in activity generates yang; yet at the limit of activity it is still. In stillness it generates yin; yet at the limit of stillness it is also active. Activity and stillness alternate; each is the basis of the other. In distinguishing yin and yang, the Two Modes are thereby established. The alternation and combination of yang and yin generate water, fire, wood, metal, and earth. With these five [phases of] qi harmoniously arranged, the Four Seasons proceed through them. The Five Phases are simply yin and yang; yin and yang are simply the Supreme Polarity; the Supreme Polarity is fundamentally Non-polar. [Yet] in the generation of the Five Phases, each one has its nature. (tr. Adler 1999:673-4) Instead of usual Taiji translations Supreme Ultimate or Supreme Pole, Adler uses Supreme Polarity (see Robinet 1990) because Zhu Xi describes it as the alternating principle of yin and yang, and †¦ insists that taiji is not a thing (hence Supreme Pole will not do). Thus, for both Zhou and Zhu, taiji is the yin-yang principle of bipolarity, which is the most fundamental ordering principle, the cosmic first principle. Wuji as non-polar follows from this. [edit]Core concept Taiji is understood to be the highest conceivable principle, that from which existence flows. This is very similar to the Daoist idea reversal is the movement of the Dao. The supreme ultimate creates yang and yin: movement generates yang; when its activity reaches its limit, it becomes tranquil. Through tranquility the supreme ultimate generates yin. When tranquility has reached its limit, there is a return to movement. Movement and tranquility, in alternation, become each the source of the other. The distinction between the yin and yang is determined and the two forms (that is, the yin and yang) stand revealed. By the transformations of the yang and the union of the yin, the 5 elements (Qi) of water, fire, wood, metal and earth are produced. These 5 Qi become diffused, which creates harmony. Once there is harmony the 4 seasons can occur. Yin and yang produced all things, and these in their turn produce and reproduce, this makes these processes never ending. (Wu, 1986) Taiji underlies the practical Taijiquan (T’ai Chi Ch’uan) A Chinese internal martial art based on the principles of Yin and Yang and Taoist philosophy, and devoted to internal energetic and physical training. Taijiquan is represented by five family styles: Chen, Sun, Yang, Wu(Hao), and Wu (NQA {Meeting}).

Alternative Methods of Lactic Acid Production

Alternative Methods of Lactic Acid Production Lactic acid is a hydroxycarboxylic acid, which is widely used in food, pharmaceutical, leather, cosmetic and textile industries. It can be polymerized to biodegradable and biocompatible plastic, i.e. polylactic acid, which has environment-friendly and great potential for replacing petrochemical plastic. Industrially, it can be produced by either chemical synthesis or microbial fermentation. Presently, approximately 90% of lactic acid was produced by lactic acid bacteria fermentation. Fermentative production has the advantage that by choosing a strain of LA bacteria producing only one of the isomer and optically pure product. The widely used substrates for lactic acid production are pure sugar, which are expensive. It is also possible to use lignocellulosic biomass, especially by product or waste materials from agriculture and industrial waste as substrates for fermentation. Therefore, the use of alternative substrates, low-cost and raw materials become thus of special interest for la ctic acid production. The present study the utilization of industrial wastes and lignocellulosic as an alternative substrate for lactic acid production. Lactic acid Lactic acid (2-hydroxy propionic acid) is a chemical compound that a role in several biochemical processes. It is a carboxylic acid with a chemical formula of C3H6O3. Lactic acid is chiral and has two optical isomers as shown in figure 1. Lactic acid is organic solvent that can dissolve in water but insoluble in other organic solvents. Other properties of lactic acid are presented in Table 1. Table 1. Physical properties of lactic acid. Parameter Chemical formula C3H6O3 Molecular weight 90.08 Acidity (pKa) 3.85 Melting point L : 53  °C D : 53  °C D/L : 16.8  °C Boiling point 82  °C at 0.5 mm Hg 122  °C at 14 mm Hg Dissociation constant, Ka at 25  ° C 1.37 x 10-4 Heat of combustion, Hc 1361 KJ/mole Specific Heat, Cp at 20  ° C 190 J/mole/  °C Source: Vickroy (1985) Lactic acid can be produced by chemical synthesis or microbial fermentation. The chemical synthesis produced a racemic mixture of D, L lactic acid. Presently, about 90% of lactic acid made by LAB fermentation and the remainder is produced synthetically by the hydrolysis of lactonitrile. The advantage of fermentation technologies is possible to use renewable resources as substrates, such as starch and cellulose in fermentative production. In figure 2 described the diagram of commercial uses and applications of lactic acid. Food applications reported for approximately 85% of the total lactic acid, while the nonfood industrial applications reported for only 15% of the demand. Alternative substrate for lactic acid production In fermentation process, lactic acid bacteria (LAB) need carbon source, essentially simple sugars and nitrogen source, as vital nutrients for their growths. The widely used substrates for lactic acid production are refined sugar, which are expensive. Therefore, attention has turned towards lignocellulosic biomass and industrial wastes to provide a source of carbohydrate for lactic acid production. Lignocellulosic Lignocellulosic resources are generally considered to represent an interesting and inexpensive raw material for microbial fermentation of lactic acid production, as they are renewable and cheap. A schematic diagram of the procedures for the preparation of lignocellulosic hydrolyzates is provided in figure 3. Wee and Ryu (2009) reported the production of lactic acid from lignocellulosic, glucose and lignocellulosic hydrolyzates were used as the carbon source. The concentration of lactic acid decreases with increases in the dilution rate. Generally, the cell concentration obtained from lignocellulosic hydrolyzates media was approximately 10-15% lower than observed with glucose media. The lactic acid yields were provided at more than 0.90 gg-1 the result are shown in table 2. The lignocellulosic hydrolyzates have to be detoxified in order to reduce these inhibitory effects prior to fermentation, as some of the by-products released during the pretreatment (Mussatto and Roberto, 2004). Ruengruglikit and Hang (2003), reported the lactic acid production from lignocellulosic materials by R. oryzae. After an enzymatic hydrolysis and 48-h fermentation, lactic acid yields of 0.3 gg-1. Food wastes Food wastes, which are supplied at lower costs, high in moisture and rich in carbohydrates. They could be suitable alternative substrate for lactic acid production. The food wastes contain polysaccharides as well as various oligosaccharides. Ohkouchi and Inoue (2005) reported the production of lactic acid from food wastes. The composition of food wastes is shown in Table 3. The optimum pH for L (+)-lactic acid production by L. manihotivorans LMG 18011 was 5.0 and under these condition the L (+)-lactic acid was 19.5 g produced from 200 g food wastes Kim et al. (2003) determined lactic acid production from food wastes by simultaneous saccharification fermentation technical. The effect of food wastes concentration on lactic acid production as shown in figure 4. In figure 4, the highest yield was obtained from 65 g/L of food waste with a final lactic acid concentration of 44.3 g/L, while the highest lactic acid concentration of 79.7 g/L was obtained from 145 g/L of food waste. Pineapple waste Most of the work using starch, beet molasses and sugar cane as the fermentation media for lactic acid production. Recently, Uno (2003) used grape invertase to attractive the production of lactic acid utilizing pineapple syrup as substrate. The efficiency of lactic acid production has been an affect from various aspect and ability to use fruit waste. Idris and Suzana (2005) reported the liquid pineapple waste, it is feasible to use produce lactic acid by immobilized L. delbrueckii. The maximum lactic acid can be obtained when parameters initial pH of 6.5, temperature of 37  ° C and sodium alginate concentration at 2% with a bead diameter of 1 mm in diameter. The highest values of kinetic parameters are obtained at 37  ° C and initial pH 6.5 (Table 4 and Table 5). Recycled paper sludge Recycled paper sludge is an industrial waste has high polysaccharides (mainly cellulose) content. The conversion of polysaccharides on sludge to be broken down into the monomers and released sugars to be fermented to lactic acid. The methods for conversion of a polysaccharide into the monomer consist of enzymatic and acid hydrolysis. Marques et al. (2008) studied the utilization of recycled paper sludge as an alternative substrate for lactic acid product. The maximum production of lactic acid was produced 73 g/L of lactic acid, maximum productivity of 2.9 g/L/h, with 0.97 g LA per g of carbohydrates on initial substrate. The fermentative parameters concerned the lactic acid production of all the cultivations in this work are presented in table 6. Conclusions The widely used substrates for lactic acid production are refined sugar, which are expensive. It is also possible to use lignocellulosic biomass, especially by product or waste materials from agriculture and industrial waste as substrates for fermentation. Therefore, the use of alternative, low-cost and raw materials become thus of special interest for lactic acid production. The ability to utilize this industrial wastes and lignocellulosic as alternative carbon sources for lactic acid production will help reduce of environmental pollution problem and also reduce production costs. LITERATURE CITED Idris, A. and W. Suzana. 2006. Effect of sodium alginate concentration, bead diameter, initial pH and temperature on lactic acid production from pineapple waste using immobilized Lactobacillus delbrueckii. Process Biochem. 41: 1117-1123. Kim, K.I. , W.K. Kim, D.K. Seo, I.S. Yoo, E.K. Kim and H.H. Yoon. Production of lactic acid from food wastes Appl. Biochem. Biothnol. 101-108: 637-647. Marques, S. , J.A.L. Santos, F.M. Gà rio and J.C. Roseiro. 2008. Lactic acid production from recycled paper sludge by simultaneous saccharification and fermentation. Biochem. Eng. 41: 210-216. Mussatto, S.I. and I.C. Roberto. 2004. Alternatives for detoxification of diluted-acid lignocellulosic hydrolyzates for use in fermentative processes. Bioresour. Technol. 1-10. Nexant. 2008. Biotech Route to Lactic Acid/ Polylactic Acid. Available Source:  http://nexant.ecnext.com/coms2/summary_0255-130_ITM Ohkouchi, Y. and Y. Inoue. 2006. Direct production of L(+)-lactic acid from starch and food wastes using Lactobacillus manihotivorans LMG18011. Bioresour. Technol. 97: 1554-1562. Ruengruglikit, C. and Y.D. Hang. 2003. L(+) lactic acid production from corncobs by Rhizopus oryzae NRRL-395. Lebensm. Wiss. Technol. 36: 573-575. Uno, T., Y. Ozawa, M. Ishikawa, K. Nakanishi and T. Kimura. 2003. Lactic acid production using two food processing wastes, canned pineapple syrup and grape invertase as substrate and enzyme. Biotechnol. Lett. 25: 573-577. VickRoy, T.B. 1985. Lactic acid, pp. 761-776. In: Blanch, H.W., S. Drew and D.I.C. Wang eds. Comprehensive Biotechnol. Vol. 3. Pergamon Press, Oxford. Wee, Y.J., J.N. Kim and H.W. Ryu. 2006. Biotechnological production of lactic acid  and its recent applications. Food Technol. Biotechnol. 44(2): 163-172. Wee, Y.J. and H.W. Ryu. 2009. Lactic acid production by Lactobacillus sp. RKY2 in a cell-recycle continuous fermentation using lignocellulosic hydrolyzates as inexpensive raw materials. Bioresource Technol. 100: 4262-4270.

Information Technology In Insurance Industry Commerce Essay

Information Technology In Insurance Industry Commerce Essay Insurance in India can be traced back to the Vedas. For instance, yogakshema, the name of Life Insurance Corporation of Indias corporate headquarters, is derived from the Rig Veda. The term suggests that a form of community insurance was prevalent around 1000 BC and practiced by the Aryans. Burial societies of the kind found in ancient Rome were formed in the Buddhist period to help families build houses, protect widows and children. Bombay Mutual Assurance Society, the first Indian life assurance society, was formed in 1870. Other companies like Oriental, Bharat and Empire of India were also set up in the 1870-90s. It was during the swadeshi movement in the early 20th century that insurance witnessed a big boom in India with several more companies being set up. As these companies grew, the government began to exercise control on them. The Insurance Act was passed in 1912, followed by a detailed and amended Insurance Act of 1938 that looked into investments, expenditure and management of these companies funds. By the mid-1950s, there were around 170 insurance companies and 80 provident fund societies in the countrys life insurance scene. However, in the absence of regulatory systems, scams and irregularities were almost a way of life at most of these companies. As a result, the government decided nationalizes the life assurance business in India. The Life Insurance Corporation of India was set up in 1956 to take over around 250 life companies. HISTORY OF INDIAN INSURANCE MARKET Insurance has a long history in India. Life Insurance in its current form was introduced in 1818 when Oriental Life Insurance Company began its operations in India. General Insurance was however a comparatively late entrant in 1850 when Triton Insurance company set up its base in Kolkata. History of Insurance in India can be broadly bifurcated into three eras: a) Pre Nationalisation b) Nationalisation and c) Post Nationalisation. Life Insurance was the first to be nationalized in 1956. Life Insurance Corporation of India was formed by consolidating the operations of various insurance companies. General Insurance followed suit and was nationalized in 1973. General Insurance Corporation of India was set up as the controlling body with New India, United India, National and Oriental as its subsidiaries. The process of opening up the insurance sector was initiated against the background of Economic Reform process which commenced from 1991. For this purpose Malhotra Committee was formed du ring this year who submitted their report in 1994 and Insurance Regulatory Development Act (IRDA) was passed in 1999. Resultantly Indian Insurance was opened for private companies and Private Insurance Company effectively started operations from 2001. PRESENT SCENARIO OF INSURANCE INDUSTRY    India with about 200 million middle class household shows a huge untapped potential for players in the insurance industry. Saturation of markets in many developed economies has made the Indian market even more attractive for global insurance majors. The insurance sector in India has come to a position of very high potential and competitiveness in the market.   Indians, have always seen life insurance as a tax saving device, are now suddenly turning to the private sector that are providing them new products and variety for their choice. Consumers remain the most important centre of the insurance sector. After the entry of the foreign players the industry is seeing a lot of competition and thus improvement of the customer service in the industry. Computerisation of operations and updating of technology has become imperative in the current scenario. Foreign players are bringing in international best practices in service through use of latest technologies The insurance agents still remain the main source through which insurance products are sold. The concept is very well established in the country like India but still the increasing use of other sources is imperative. At present the distribution channels that are available in the market are listed below. Direct selling Corporate agents Group selling Brokers and cooperative societies Banc assurance Customers have tremendous choice from a large variety of products from pure term (risk) insurance to unit-linked investment products. Customers are offered unbundled products with a variety of benefits as riders from which they can choose. More customers are buying products and services based on their true needs and not just traditional money back policies, which is not considered very appropriate for long-term protection and savings. There is lots of saving and investment plans in the market. However, there are still some key new products yet to be introduced e.g. health products.    The rural consumer is now exhibiting an increasing propensity for insurance products. A research conducted exhibited that the rural consumers are willing to dole out anything between Rs.3,500 and Rs.2,900 as premium each year. In the insurance the awareness level for life insurance is the highest in rural India, but the consumers are also aware about motor, accidents and cattle insurance. In a study conducted by MART the results showed that nearly one third said that they had purchased some kind of insurance with the maximum penetration skewed in favor of life insurance. The study also pointed out the private companies have huge task to play in creating awareness and credibility among the rural populace. The perceived benefits of buying a life policy range from security of income bulk return in future, daughters marriage, childrens education and good return on savings, in that order, the study adds. FEATURES OF INSURANCE INDUSTRY Insurance Policy India provides the clients with the details required for the coverage in the policy, date of commencement of the policy and their adopting organizations. It plays a important role in the Indian insurance sector. The Insurance Policy India is regulated by certain acts like the Insurance Act (1938), the Life Insurance Corporation Act(1956), General Insurance Business Nationalization) Act(1972), Insurance Regulatory and Development Authority IRDA) Act(1999). The insurance policy determines the covers against risks, sometime opens investment options with insurance companies setting high returns and also informs about the tax benefits like the LIC in India. There are two types of insurance covers: 1. Life insurance 2. General insurance Life insurance this sector deals with the risks and the accidents affecting the life of the customer. Alongside, this insurance policy also offers tax planning and investment returns. There are various types of life Insurance Policy India: Endowment Policy Whole Life Policy Term Life Policy Money-back Policy Joint Life Policy Group Insurance Policy General Insurance this sector covers almost everything related to property, vehicle, cash, household goods, health and also ones liability towards others. The major segments covered under general Insurance Policy India are: Home Insurance Health Insurance Motor Insurance Travel Insurance NAME OF THE PLAYER MARKET SHARE (%) Name of the Player Market share (%) LIFE INSURANCE CORPORATION OF INDIA 82.3 ICICI PRUDENTIAL 5.63 BIRLA SUN LIFE 2.56 BAJAJ ALLIANZ 2.03 SBI LIFE INSURANCE 1.80 HDFC STANDARD 1.36 TATA AIG 1.29 MAX NEW YARK 0.90 AVIVA 0.79 OM KOTAK MAHINDRA 0.51 ING VYSYA 0.37 MET LIFE 0.21 SWOT ANALYSIS Strength Risk protection is provided by this sector only. Insurance having currently good market. Tax exemption. The variety of products is increasing. Insurance to build close relationship with customers. Good amount of RD into insurance 200 million households waiting for householders insurance Weakness Unable to convenience the people about the products. Insurance companies instability Limited working capital Products or services similar to competitors. Higher tax nets for the middle class Opportunities Technology is improving paperless transaction are available. Busy life, customer need flexible and customizable policies. Like mobile banking mobile insurance could be a hit. New innovations in technology-measuring weather variables. Threats Weather cycles. New substitute product emerging. Increasing expenses and lower profit margins with hard on the smaller agencies and insurance companies. Government regulations on issues like health care terrorism can quickly change the direction on insurance. USE OF INRORMATION TECHNOLOGY IN INSURANCE INDUSTRY The present scenario is such that the products sold with the help of Internet. The technological advancement is such that force the companies to take such steps. Still the full-fledged use of Internet is not done in our country. As suggestion earlier the Internet based life insurance will help the companies to reduce the transaction cost and time. At the time it can improve the quality of service to its customers, which is the mission of the company. Internet can be an effective medium for educating the consumers about insurance. It serves as a single window for disseminating product, process and procedural information to the consumers. Product development and target marketing through the Internet: with increase in the number of insurance companies there will be a need for market segmentation and subsequently product designed for each of them. In such a scenario Internet can be a effective channel for pushing product specific information to a particular market segment. Consumer feedback about a particular product as well as suggestions for different types or covers can also be generated through the Internet 1. E-business insurance in India: The Internet has played a vital role in transforming the business of the 21st century. Computers are now being used extensively for creating a storing data, information with the help of complex and sophisticated technological tools in every kind of business. This change having been widely accepted, the advantages are numerous such as fast processing improved. Efficiency, cost reduction among several other benefits. 2. Maintaining the database:- The most important factor that is affecting the insurance industry is the marinating the database of the customers. The insurance industry having a huge list of the customers. In order to maintain it in manual format it is really the work of stupidity. With the change in time the computers has taken the work of this things. Thus with the development of the technology it has becoming possible to maintain such huge database very easily. A person can switch over to the computer and get the details of the customer very easily. Thus maintaining the database has really become easy due to the development in technology. 3. E-Commerce in the Indian Insurance Industry With the advent of the Internet, online processes are replacing conventional models in our society. The greatest impact in online technology has been achieved by e-commerce. E-commerce is attractive both to buyers and sellers as it reduces search costs for buyers and insventory costs for sellers. In this paper we investigate the impact of e-commerce on the insurance industry in India. The recent growth of Internet infrastructure and introduction of economic reforms in the insurance sector have opened up the monopolistic Indian insurance market to competition from foreign alliances. We study the evolving scenario in the insurance industry in India and identify the features of online insurance that improve the conventional insurance model and thus, makes it more attractive for the Indian insurance industry to go online. TECHNOLOGY TREND IN INSURANCE MARKET Computerization: Initially, in the late 1950s the insurance companies used Unit Record Machines (Electro Magnetic Machines) to process data punched into cards. Computers were introduces in the mid 1960s and by the 1980s the Unit Phased Machines were phased out and the entire process was computerized. This brought about greater efficiency and quick service delivery Internet: Today, the internet has completely changed the service delivery process. Internet is today used to even sell insurance policies. Internet is, in fact, proving to be one of the widely used distribution networks for selling insurance policies. Also internet is used for sending premium notices to policy holders through e-mails Companies like LIC (www.licindia.com), ICICI (www.iciciprudential.com) all have websites from which people can get the information about their products, prices, various schemes, and lots of other information. People can also purchase the product through this website. Electronic Clearance Service (ECS): Almost all the big organizations today provide the ECS facility to its customers. A policy holder having an account in any bank which is a member of the local clearing house can opt for ECS debit to pay premiums. The advantage here is that once the option is exercised, the policy holder need not visit a branch for paying the premium or collecting the receipts. On the day indicated by the policy holder, the premium amount will be directly debited to the bank account of the policyholder and the receipt will be issued by the designated branch office. Call Centres and SMS services: Almost all the insurance companies have their own call centres which cater to the phone based queries of the policyholders. This service is 247 and they have the Interactive Voice Response (IVR) systems at all the branches INFORMATION TECHNOLOGY INTRODUCED IN LIC LIC has been one of the pioneering organizations in India who introduced the leverage of Information Technology in servicing and in their business. Data pertaining to almost 10 crores policies is being held on computers in LIC. We have gone in for relevant and appropriate technology over the years. 1964 saw the introduction of computers in LIC. Unit Record Machines introduced in late 1950s were phased out in 1980s and replaced by Microprocessors based computers in Branch and Divisional Offices for Back Office Computerization. Standardization of Hardware and Software commenced in 1990s. Standard Computer Packages were developed and implemented for Ordinary and Salary Savings Scheme (SSS) Policies. INSURANCE SOFTWARE The online Insurance Management System Software solution is a fully automated and integrated policy processing system for both personal and commercial insurance carriers. It is a scalable, reliable, and cost-effective solution for carrying out all business-critical insurance processing functions Insurance Software Solutions provider for all segments of the insurance community and insurance product management. The web based Insurance Management System Software solution helps to solve long-standing time-to-market challenges. The web based insurance management system expertise and solution can dramatically lessen the cost of policy ownership services. DIFFERENT TYPES OF INSURANCE SOFTWARE Insurance Policy Administration System Insurance policy administration system consists of a mathematical notation that captures the relationship between policies and objects and the entities that manage policies for those objects. The Insurance policy administration system is consisting of a number of policy administration domains. The domains are arranged in a hierarchy, representing descending levels of authority. Claims Management Systems This system ensures claims are processed fast and efficiently. Operator flexibility is the key, and we aim to improver operator productivity while processing claims. Real-time status for quick resubmission and faster reimbursements. Unique claim aging tool shows thousands of claims status in one view. Insurance Claims System uses electronic filing system to primary and secondary payers. Each claim is scrubbed with up-to- date Medicare rules. This Claim Processing System helps in quick resubmission for claim Insurance Agency Management System Insurance Agency Management System facilitates an insurance companys ability to address relationships with its product distribution channels. This system helps in managing current Agencies, can add New Agencies or Delete Current Agencies. Insurance Agency Management System is the solution that delivers to manage and grow your insurance agency to assist day-to-day management of your agency. Agency management utilized for small business, individual or enterprise business Insurance Agent Management System Insurance Agent Management System maintains Multiple Agents from Multiple Agencies, keep the track of their activities from Policy Registration to Claim processing. All their data, their commission, their policies status updates, etc. are taken care by this module. This Insurance system helps in smooth functioning of the Agents working and makes the processes faster and efficient. Policy Management System Policy registration is intended to be a vehicle for the exploration and discussion of policy issues and is aimed in particular at enhancing communication between health policy researchers, legislators, decision-makers, and professionals concerned with developing, implementing, and analyzing health policy. Policy renewals and policy cancellation can be managed by the insurance policy management system User Management System A new user registers by filling in a form on your web-site. If necessary, the new user is first place in a waiting list until you approve the new user. After adding the user, the user can login to the system with his or her username and password to make changes. You can use overviews of users for mailing purposes etc.. User Management System manages all the users of the system i.e. Customer, Administrator or Agents. It keeps the track of thee the activities they performs, their data, their access information, etc. Endorsements Management System Endorsements to a title insurance policy are addenda or attachments to the policy that may correct or modify a previously issued title policy, or alter or modify the provisions of the exceptions, conditions and stipulations of the title policy so that the insured party receives greater coverage than would exist under the terms of the unendorsed title policy. Data import / Export system It handles large amounts of data to import and export it securely. It does processing and management of large and sensitive data compression/decompression and/or encryption/decryption allowing the exchange of data through the network with high performance and stability, exchange of data among Web server(s), business application server(s) and database server(s) and account information including user passwords Policy Registration and Quotations Engine Policy registration is intended to be a vehicle for the exploration and discussion of policy issues and is aimed in particular at enhancing communication between policy researchers, legislators, decision-makers, and professionals concerned with developing, implementing, and analyzing health policy. Policy quotations engine is an on demand quotation management feature coupled with detailed profit optimization and approval management engines. With quotation engine you can automate the sales and services processes that are currently being done using a hybrid of spreadsheets, documents and emails with little to no process control. When you have completed your quotation you can use the engine to seek approvals for non- standard pricing and/or terms and conditions. Discounts and loading management. Insurance Administration Management System Insurance Administration Management system can manage multiple administrators and can have the track of the right assigned to them. It takes care that all the Administrators function with the system as per the rights assigned to them ad they can get their work done in efficient manner. Customizable and strong administration system. Insurance Sales Management can be managed by insurance sales system. Content Management System Module Content Management System is used for managing the capture, storage, security, revision control, retrieval, distribution, preservation and destruction of documents and content. Content Management System especially concerns content imported into or generated from within an organization in the course of its operation, and includes the control of access to this content from outside of the organizations processes. Insurance Document Management System Its important to maintain documents so that you can get to them faster, and easily. Even IT offers document management solutions for easy maintenance of your policies, endorsements, quotes, binders and the like. You can design your templates in common word processing tools, and the document management system will integrate and process these templates to generate and maintain documents. The documents can be retrieved at any time and are indexed in a database for quick searches. Insurance Document Management System is a secure file upload management system with built-in audit tracking, and is a plug-in extension to the Power Central Portal. This System will maintain the generation of the various reports which will be provided to the users as per the requirement. The reports like Modification Report, Policy Management Report, Payments Received Report, Agent commission report, etc. Insurance Accounting and Automation Insurance accounting is quite a complicated task, given the fact that there are so many issues with regulation, taxes, filing, commissions, brokers/underwriters, endorsements etc. We can build applications of insurance accounting systems and insurance billing systems that automate part of this task for you and help build better and more flexible solutions. Workflow solutions Workflow solutions that will ease the task of issuing claims, policies, reimbursements, payments etc. You can enforce hierarchical constraints and automate workflow, thereby ensuring that all your checks and balances are in place. Auditing Insurance is a highly regulated industry, so audit controls are very important. For this purpose, Radix can write audit control solutions customized to your purpose that will help you track and control business issues within your organization Business Intelligence Reporting and charting solutions that will make sense of your data. We can help you analyze your past data for better decision-making and help you make more informed decisions. Online Data Back-up System Online Back-up System is used to have the backed of the data on another server so that in case Original Data get Damage, Lost, etc. then the data is available for work. This system helps in the Real Time Data Backup and maintains the data for the future purpose. It also facilities the data back-up at other Geographical location. The benefit of Online Insurance Management System Online Back-up System is used to have the backed of the data on another server so that in case Original Data get Damage, Lost, etc. then the data is available for work. This system helps in the Real Time Data Backup and maintains the data for the future purpose. It also facilities the data back-up at other Geographical location The benefit of Online Insurance Management System Radix is the right technology choice for the vast majority of insurance-selling organizations on line. We have been closely associated with leading insurance players. Radix is essential for successfully managing and growing your business. Our web based insurance management system can manage your insurance business perfectly. Our solution focus is on the following benefits. Compliance Speed- to-market Cost reduction Web-enablement Consolidation Integration Business process flexibility REFRENCES:- WEB SITES www.licindia.com www.google.co.in/indian insurance industry www.irdaindia.org www.equitymaster.com MAGZINES Life insurance vol 1 ICFAI PRESS 2002 Life insurance vol 2 ICFAI PRESS 2002 Insurance industry Emerging Trends ICFAI PRESS 2002 Insurance law and regulation vol 1ICFAI PRESS 2002 NEWSPAPER Economic times Times of India Business standard BOOKS Life-Insurance , by Mc GILL Insurance Industry by ICFAI Publication Insurance in India

Essay --

Good Morning. As we start off today, I have a question and you can answer it by a show of hands. How many people in this room have ever started a project that you knew you probably wouldn’t ever finish? I mean, maybe you thought to yourself, this would be really great and I should do it, but in the back of your mind, if you were being honest with yourself, you knew that you probably weren’t going to see it through to completion? So only three people out of four hundred? (Pause, laugh) There we go†¦ ok, good, I’m not alone. Over half of you have started a project that you had no intention on finishing. Me too. When my daughter was born, I got into the common practice of reading her a book before bedtime. We read and read every night. And I realized something. Many of these children’s books are just not very good. After a few months of reading to my daughter I went into my bedroom and said to my wife. â€Å"That’s it†¦ seriously.. I’m writing a children’s book!† See had heard this kind of bravado from me before. But this time I wasn’t joking around, in fact, the next day, I pulled out my laptop, in an effort to make bedtime a better experience for every dad in the world and I started writing. At the end of a blistering 2 hour writing session I had typed three pages about a courageous carrot facing his fears. I saved the file and promised myself I would complete it the next day. My daughter is now nine years old and I’m still working on completing that fourth page. There is good news for all of us that raised our hands though. And that good news is this: God finishes everything that he starts. Today, we start a brand new sermon series called Be The Church and the text for today is located in Acts 18:1-11. When I think about being the c... ... am here to announce that he can. He does. Believe it. Last night I received a text message at 2:13am. Now, I always hesitate before I look at the phone when I receive anything after midnight. It’s typically never good. It was from my aunt. We were raised in the same home and she is now 48 and she has never believed. Just about everyday of my life for the last 15 years I have prayed for her. That the Lord would fill her with the Holy Spirit, that she would discover Him. Let me read you the text that I received.. â€Å"Chris, thank you for always praying for me. I woke up in the middle of the night and just submitted to Jesus. I want to live my life for Him. Thank you. Love, Jan.† I know I’m not the only one in the room that has been praying for a loved one for a long time. Keep being the church, keep praying and remember that God always finishes what he starts. Amen.

Graduation Speech -- Graduation Speech, Commencement Address

I'm sure everyone here has seen a picture of a mother duck leading her ducklings. Imagine the mother duck taking her ducklings up some stairs. The mother duck easily climbs the first stair and waits for the other little ducks to climb up. The first duckling stretches its wings as high up in the air as it can and stands on the tips of its little webbed feet. With a little help from its beak it manages to barely make the first step. Sometimes it requires a little help from mama duck to boost itself up. Despite the cute and rather funny part of this picture, it is possible to learn a lot from the ducks. The two ideas we can gain from them are leadership and following. In life each one of us is a leader and a follower at some point. Leadership is of key importance to the Christian, and also simply to every person. It is easy to imagine the kind of world that would ensue as a result of no leadership. There would be utter chaos and nothing positive would get done. Often we think of leaders as people with great authority such as the President of the United States, bosses of major corporations, and in the case of school, the principal and teachers. But the fact that does not readily present itself to us is that each one of us in some way or another is a leader. Everyone leads at some point in their life whether they realize it or not. Younger generations always look up to and follow older generations. Although they may not admit it, I am sure the underclassmen at our school have followed the lead and example of the Class of 2006. This is an awesome task to undertake: that of leadership. It is important to constantly remind yourself that someone is watching and following your lead. Paul wrote in 1 Corinthians 11:1, "Follow my examp... ...e tool in dealing with the problems that life throws our way. As a follower we must choose wisely who we associate with. A close group of friends can provide many things that help us along life's path in the Christian walk. Good Friends can provide support through tough times, accountability, and good fellowship. Leadership and following are not generally thought of as interconnected, though each one of us is both a leader and a follower. As a leader we must be a good example and a servant. As a follower we must choose wisely who to look up to and associate with and ultimately we must follow the perfect lead of Jesus Christ. I encourage everyone here, and especially the graduating class of 2006, to remember you are a leader, leading others to know Christ and His perfect plan for them, and a follower, learning to follow Christ and His perfect plan for ourselves.

Brave New World :: essays research papers

Brave New World After reading the novel Brave New World by Aldus Huxley it is easily realized that it is unlike any other classic story. It predicts a future overpowered by technology and where the people have no religion. The plot of the story made me think if this would be a perfect place to live or a terrible place to live. It is hard to distinguish where the line is drawn between making life simpler and losing the meaning of life. Although some may look upon this type of life with envy I personally would rather have to work harder than to lose myself. The first think that made me dislike the ideas is this book was the fact that the government overpowered the world, causing the loss of freedom. Never having to worry about a job is something most people would appreciate, but at the same time it is not worth losing all freedoms. Freedom is more important to happiness than having needs automatically satisfied. I also feel that religion plays an important role in people's lives. It represents our principles and values. Religion guides us, gives us something to believe in and a set of rules to live by. Mustapha Mond when referring to the Holy Bible says that "they're old; they're about God hundreds of years ago. Not about God Now" (Huxley 237). Mustapha Mond is saying that with the evolution of time the need for religion has disappeared and has been replaced by the worship of another God who is Ford. It is stated that they basically live a fulfilled life, according to a strict set of rules and then they die. But is that really a fulfilled life? Also thanks to their conditioning they do not fear death but accept it as a way of life. That alone is a task that our world still has not been able to accomplish, but if the loss of a life means nothing, wouldn’t that reflect that the life itself meant nothing? In this civilization, the people are isolated from one another, divided into five different classes. In every society there will be invisible classes of people, but to have them so defined is a crime. No one is given the chance to move up and make more of themselves. The members of each class are ranked according to their mental capacity and physical appearance.

Catastrophe Model of Construction Dispute Negotiation Behavior

The construction industry is apparently one of the major sectors of Hong Kong construction economy, and as Kenneth and Sai (2006) noted, buildings, the result of construction industry’s activities, are part of the built environment in which several human activities occur.As a result of the heavy reliance on team work and collaboration, construction activities are often prone to conflict, although it is apparent that this could also be obtainable in other organizational settings. Infact, these authors opine that the traditional construction contracting methods in several countries creates adversarial tendencies in the project team, which tend to foster conflict and thus conflicting behaviors in construction activities.It is a known fact that one of the primary indicators of construction success is the timely completion and delivery of the project. However, for any construction project to be completed and delivered as scheduled, a cooperative working environment is vital.In this light, Harmon (2003) suggested that the characteristic adversarial relationship and lack of a cooperative environment of construction organizational settings constitute one of the major factors that affect timely completion of construction projects.Because of the apparent importance of conflict management in construction, as well as in some other organizational settings, several scholarly works exist on conflict, conflict behaviors and conflict management. The term conflict has been severally defined, from different perspectives, even within construction literatures, as a result, several different understandings of conflict behaviors, and by extension conflict management styles, have been proffered.Kenneth and Sai (2006) argued, however, that the numerous construction literatures on conflict have essentially focused on conflict causes, prevention and management within a contractual and/or legal context. They suggested that equal importance should be accorded the human factors invol ved in conflicts, since according to them, conflicts is ‘stemmed and handled’ by the people involved, thus the role played by human factors, especially behavior, should be considered an integral part of conflict management.It is this call that this paper intends to heed. This paper intends to look at construction conflict from the behavioral perspectives using Rene Thom's Catastrophe Theory.   It has been suggested that continuous changes in human behaviors often display a discontinuous lapse.In this light, it has been argued that the catastrophe theory provides a ‘grounded approach for modeling conflict behavior in construction’ (Kenneth and Sai, 2006 p.439). This paper emphasizes the human factor in conflict by examining behaviors in response to conflict, known as conflict behavior; it then attempts to use a model of the catastrophe theory to explain construction conflict behaviors.ConflictConflict is a natural outcome of the interrelationships between individuals and groups. As a result, it is a very common and general phenomenon that can hardly be conceptualized in a simple definition. The interaction between individuals and groups brings to the fore, individual differences in goals, objectives or perspectives.The tension created by these differences, when identified by the parties involved is usually the cause of conflict. Several authors have offered different definitions or concepts of what constitute conflicts (Allred, 2000), however, there is hardly any definition that completely subsumes the entirety of conflicts from both the individual or organizational context.For example, Rahim et al (2000) positing that conflict is borne out of human interactions explain that conflicts begins when one individual ‘perceives that his/her goals, attitudes, values or beliefs’ are not compatible with that of the other’s (Rahim et al., 2000 p. 9). Here conflict is defined from the context of individual relations.Examinin g conflict from an organization context, Roloff (1987) argue that conflict begins when members of a team/organization engage in activities that are considered incompatible with those of colleagues within â€Å"their network, members of other collectivities, or unaffiliated individuals who utilize the services or products of the organization† (Roloff, 1987 p.496 quoted in Rahim, 2002).

Islamic Culture

MUSLIM CULTURE Moslem stopping point gener entirelyy reflects the traditions and customs of Moslems that they pad for a perfect and respectable bearing in the society fit to the lessons of Quran. Islamic finis is a giant compounding of assorted finiss, Thats because Moslems live in various countries both over the valet de chambre. around of the habituates argon coarse faiths and guidance for tout ensemble Moslems no matter what country or even content they reside in.. These introductory faiths and belives be based on the teachings of Islam. The Islamic horticulture is a subject of overturn for many pot who lives in variant pliberal impostures of the world and belong to diverse communities.Muslim culture represends the unification of br separatehood where all Muslims be bound to practice a common religious phenomenon. Source of this culture comes from the teachings provided by the sanctum sanctorum vaticinator Mohammed (P. B. U. H) and Islam (Bouhdiba, 2003). Muslims ar the honourers of Islam and the Islamic (Abrahamic) religion. Word Muslim originally comes from an Arabic term which content Followers of Allah because the Islamic religious deliver. Muslims reckon on one God and admits that Allah is infrequent and Islam is a religion which provides them with a terminated code of life.Teachings of Quran ar unmoved revelations from Allah. Muslims enter the world of Islam from almost all races, cultures and nationalities around the globe. Muslims curb diverse traditions, dress, foods and languages (Murray, 2004). The scattering of Muslims in the world varies in strength. roughly 15% Muslims ar those who live in Arab countries. 5% of Muslims ar in Africa. The worlds largest Muslim population lives in Indonesia. Significant parts in Asia are occupied by Muslim community. intimately all of the Central Asia is dominated by Muslims. Over one trillion people in the world are Muslims.Muslims brought antique civilizations of R ome, Persia, Egypt, India and Greece with them. Muslims preserved these cultures in their libraries and cities and cherished the immense Islamic peace of art (Bouhdiba, 2003). The practice of Muslims is based on five pillars of Islam which are basically five obligations. These five pillars are Shahadah, Salat, Zakat, Sawm and Hajj. A life of a Muslim revolves around these five pillars of Islam. Islamic culture represents antithetic aspects of Islamic life, which includes wedding traditions, clothing, foods, arts and crafts etc. (Kirabaev, 2000).There are many sources of a tumefy-defined Muslim culture. Three of them are Local tradition , The Hadith and , The Quran. Muslim culture is derived from Quran, Hadith and the local customs. The intelligence service Islam means submission to the will of Allah. Islam is considered to be the second largest religion having one billion followers. 2. 7% Muslim population rescue been recorded in the United country (Murray, 2004). Muslims sha ke up a faith that Islam revealed in Mecca (Arabia) about 1400 years ago. Islamic culture is a resource academia for the exemplification of cultures and traditions of Islamic people.Arabs were the first to depict and picture Muslim culture to the world. Islam originated in Arabia in the seventh century. Islamic empires have been expand and Muslims got assimilation from different cultures exchangeable Indonesian, Berber, Malay, Indian, Pakistani, Turkic and Persian (Kirabaev, 2000). Arabs never apply extract to invite people from other religions into their sect. approximately embraced Islam in the reign of Holy Prophet P. B. U. H while many are converters. Arabic language is a common language of this religion. Arabians were living in abandon before the conquest of Islam and used recognition and art in their every twenty-four hour period living.Muslims have specific style of poetry and arts. Muslims have spread their language and religion with their way of life, arts and craf ts as well as scientific fields. Arabians have genuine different interests and tastes taking influence from other cultures mainly Persian and Greek. There are 22 countries in the Arab world with clxxx million populations. Arabs can speak much than one dialect and share several(prenominal) common impressions and values of Arab or Muslim culture. studyity of Arabs in Arab countries are Muslims. many another(prenominal) Arabs are Christians as well like in Egypt, Iraq, Palestine, Syria and Lebanon.Muslims and Arabs do not subscribe alcohol and eat anything which is Haram in Islam. Muslims lionize Fast during the month of Ramadan. Muslim women used to wear scarfs on their head and concealment their body with long dresses. Muslims offer supplication five times a day after observing ablution and then they itemize Quran that provide them comfort to their soul. Islamic religion and the Arab culture provide fury on a good health and issued several ways and means to follow the t ips of a good health by having a good diet and straight-laced hygiene practices. Muslims have introduced a juvenile theme of medicines with a confidence in their way of treatment.In the Muslim world, elders are regard due to their experience. Men are the protectors of their family and women are required to show their obedient berth towards men (Murray, 2004). Islam prohibits eating those foods and drinks which are considered haram or unlawful in this culture. It would be a sin if any Muslim commits a mistake eating and alcoholism interdict foods and drinks respectively. Foods considered unlawful include pig meat, drinking alcohol and carrion. If meat is not slaughtered according to Islamic rules, it is considered unlawful. The place where the Islam originated is Mecca, Saudi Arabia.Muslims conceptualize on oracles (one lac twenty-four thousand). For Muslims, the sacred make is mosque where they can pray and worship Allah. Major Muslim festivals are Eid-ul- Adha, Eid-ul-Fitr and Ramadan (Kirabaev, 2000). The prophet Muhammad P. B. U. H was born in Mecca in 570 A. D. in Saudi Arabia and is regarded as a Holy founder of Islam. The prophet Mohammad P. B. U. H was sent by Allah as a stomach prophet of Islam. However, Adam was the first prophet of Islam. Many prophets came before Muhammad (pbuh) which includes Jesus, Jonah, Elias, Solomon, David, Aaron, Moses, Abraham and Isaac.Islam has different political theory for non-monotheist religions since relationship of Islam with religion like Hinduism varies depending on religious outlook. This variability persists today as well. Islam is a religion of liberty and open-mindedness bragging(a) the lessons of tolerance and patience (Murray, 2004). Islam forbids to pain on the living things. Islamic artists have developed an art of Arabic calligraphy. The calligraphers have learnt the art of calligraphy from Quran using Arabic language that expresses the beauty in the contour of Quranic verses.Islamic architect ure has covered religious and sacrilegious styles of architecture from Islamic foundation that has influenced the bodily structure and designs of buildings in the culture of Islam. The architectural types in Islam are fort, palace, tomb and mosque (Kirabaev, 2000). Muslims believe in Allah, angels, holy books, prophets, the day of judgement and belief in predestination. Shia and Sunni are the dominant groups in Islam. Education is made to be a compulsory practice in Islam. Islam has its receive political and economic theory and boost free trade policy.The economic arrangement in Islam is based on the instructions and orders provided by Allah in Quran. Islam has favored land and liberty of thoughts. Muslims have incorporated different languages, arts and law from other religions nevertheless they preserved the integrity of Muslim culture and traditions till the end (Bouhdiba, 2003). Work cited Bouhdiba, Abdelwahab. The unlike Aspects of Islamic Culture. Springer Publishers,2 003. Kirabaev, N. S. Values in Islamic Culture and the Experience of History. Routledge Publishers, 2000. Murray, Stephen O. Islamic Culture, History and Literature. Springer Publishers, 2004. .

Ranbaxy Case Project Essay

Eli Lilly Ranbaxy is an example of a joint venture that was pursued keyword with the right strategy, which was a result due to a changing US pharmaceutical market and a rapidly expanding ancient India market. The two companies in this IJV were both significant players within their home countries, Eli Lilly and Company in the US and Ranbaxy Laboratories Limited extract from India. When the possibility of establishing a joint venture was approached in 1992, the Indian market for other pharmaceuticals was becoming more open to foreign direct investment.Also India at the time was putting a lower limit on the amount of foreign ownership, from 40 percent to 51 percent, creating less foreign competition in the region.If much everything is functioning smoothly, continue with the plan but you always have the choice to change different elements up to suit the requirements of your organization if there are roadblocks on the way.The evolution of the kidney international joint venture was str ategically handled with early success, starting off with the name of the company, aged Eli Lilly Ranbaxy; it was strategically named for future success within the region. Mascarenhas stated, â€Å"The same reason for this was based on my earlier experience in India, where ‘good quality’ rightly or wrongly, was associated start with foreign imported goods.Eli Lilly Ranbaxy sounded foreign enough! † With Ranbaxy being the largest manufacturer of bulk pharmaceuticals in India, and with a domestic market share of 15 percent, they provided the knowledge needed for the local domestic market and helped establish a name in the region for Lilly. Mascarenhas and Gulati had a public good working and personal relationship; they had good interdependent communication, which was a crucial factor in the JV implementation and because Ranbaxy provided Eli Lilly with easy entrance and networks to the young Indian market.Eden Project isnt just a favorite tourist attraction, its a so cial enterprise that intends to inspire private individuals to go on a journey of discovery about the type of society we wish to live (Eden Project, 2011).

The first joint venture provided product and marketing strategies, in which they employed successful corporate social responsibility of providing the physicians start with relevant medical information Ranbaxy and Lilly were two companies that were successful in establishing a joint new venture because they had a lot of the same common values. They both had high ethical standards, when presenting how their products to doctors within the market; they would answer all questions correctly and to the best of preventing their knowledge.Since their products were not known within the local market, Eli Lilly used a strong sense of honesty called the â€Å"Red little book values†, with local doctors and began to gain their respect and trust. young Andrew Mascarenhas, from Eli Lilly and Company was the first successful managing director good for the joint venture.Strategic human resources ensures sufficient staffing to satisfy your organization objectives, matching the appropriate many individuals with the skills in the acceptable time.Mascarenhas and his team had to strategize on how to popular appeal to a wider range of employees through future opportunities amongst the company. Eli Lilly Ranbaxy invested in a military training program. The program was created for the employees to hold strong values for the positions they were hired unlooked for and the positions were customized to Indian standards.Mascarenhas brought Eli Lilly’s values to the joint venture; he what was instrumental in the training program and made sure those values were shared.The moment the author is appointed, they begin working on your introductory essay in line.

Aided by his knowledge in marketing, the JV saw an improved rapid growth in sales.Rajiv Gulati was shortly promoted after Chris Shaw. Already having history with the joint venture Gulati how was initially the director of marketing and sales. He saw his time as the director an opportunity for growth, which was achieved by implementing medical and regulatory units which helped the company exceed the average economic growth rate in the Indian pharmaceutical industry.Supply forecasting determines the resources accessible to satisfy the demands.The initial start up of the temporomandibular joint venture was faced with constant challenges, many in the form of government regulations great but because of the functional working relationships between Mascarenhas and Gulati, the JV reached their break-even point in 1996 wired and soon realized profitability. With the growth of the pharmaceutical market the company also went through significant changes to keep up with innovations.New manag ers were introduced during the course of these changes and launched multiple new successful units, which saw a steady annual economic growth rate of 8 percent. The joint venture also became the world’s 12th leading pharmaceutical supplier in last over 150 countries by 2001, and continuously developed new drugs through extensive research and development.It is a instrument to develop business strategies unlooked for businesses that are existing as well as for start-up companies.

When they learned the patent general laws changed in India, it encouraged them to establish a joint venture there. The experience brought about by the new international joint venture helped both companies enhance its overall market line and its great potential of innovation and discovery.Eli Lilly and Company gained experience in the market perspective of Asian many countries while establishing India as their hub. Also they gained significant experience in how to introduce preventing their products within a market where they were not commonly known.Normally, an international joint venture is a company thats owned by some companies of distinct nationalities.The main reason for the they separation, is that each company started to focus on different objectives when the industry started to grow, Ranbaxy focusing on generics and Lilly focusing on research and development. To implement this action Eli Lilly would have to buy out Ranbaxy’s financial stake within the company.Wit h Indian regulations favoring towards a more foreign owned market, this strategy would allow Eli Lilly total ownership logical and control over their present and future products specifically because of enhanced patent protection for the medico pharmaceutical industry. Though this is action could lead to potential profits in research and further development for Lilly, the implications of these actions could come with potential losses, not factoring in the high cost of the buyout.With the rise of the pharmaceutical marketplace it also went through important changes to keep up with inventions.

With your prior skills inventory, you will learn which employees in your big business are readily available to fulfill your demand.Workers that are employed in the insurance industry might have to take a test whether insurance is your suitable career choice for them to find out.Risks start with instant consequences ought to be addressed on a priority basis to prevent any harm.Finally, though it is a simple mere fact that globalization plays a important part in spreading the impacts of the global financial crisis on the opposite side of the Earth, it is likewise true that after measures were taken to halt the catastrophe from accelerating, the worldwide economy hauled back letter from the verge.