Campaigning for the Presidential Election of 2000 :: Presidential Election Politics Presidents Essays

Campaigning for the presidential Election of 2000 The 2000 Presidential campaigns were a in truth close call according to the poles made by CNN with jury in the lead at 43 percent and Bush with 42 percent. The main Presidential candidates were Vice President Al Gore representing the Democrats and the G all overnor of Texas, George W. Bush, representing the Republicans.The candidates disagreed on some issues that included abortion, healthcare, and education. However, they did agree on some things but had very diverse methods on obtaining their goals. Abortion, for example, is one issue they viewed differently because Bush was pro-life and Gore was pro-choice. Healthcare was extremely important in this campaign because Gore wanted to help the sr. more, which was one of the main points of his campaign, and this ended up hurting Bush. The biggest issue happened to be education. Both wanted education to excel while they were President but had different ways of sacking about it.Wh en it came to the abortion issue, I thought it was the one that mainly pulled in the womens votes. Gore supported abortion rights and Bush argue them except in cases of rape, incest, or to save a womens life. The Gore administration was better off on this one because Gore was for it and so were a lot of women. On the CBS news Bush stated, He would support a Constitutional Amendment to ban abortion but wouldnt push for one. In relative to his statement Bush said, I dont believe there is enough public support for it. A major issue that Gore had over Bush is that Bush opposed the FDA approval of the abortion pill, Mifeprex, while Gore believed the pill would be a better way to get an abortion done. Gore also opposed agnate consent or notification which helped pull in many of the younger womens votes. On the other hand, Bush was for parental consent that caused many of the parent population to be on his side. Healthcare was a major issue concerning the elderly and was very helpful whe n it came to the swing states and whom they were going to vote for. For example, Washington was a swing state, in the past ten elections, five were for Republicans, and the other five were for the Democrats. It could have went either way but looked handle it ended up in the favor of Gore.

The Trojan Women by Michael Cacoyannis Essay -- Film Cinema Movies Eur

Desperate Trojan Housewives Some Reflections on The Trojan Women, A buck by Michael Cacoyannis.I am exploring some aspects of the film of Euripides The Trojan Women,directed by Michael Caccayannis, based on the poetic translation by Edith Hamiltonand starring Katherine Hepburn as the tragic hero Hecuba, queen of Troy. I would liketo explore an essentially Jungian theory of what loss means, and whether there can beso such(prenominal) suffering, that it overwhelms the personality. In Jungs view, which isessentially the view held by most spiritual disciplines, it is only through suffering thatwe become fully human. It is only when we are in touch with our shame, through ourpublic nakedness, and private anguish, that we can be in touch with our limitationsand our humanness. But as we work with our patients do we not doubt the possibility,so eloquently put by Aeschylus and misquoted by Robert Kennedy at a famousspeech upon the assassination of Martin Luther King.RFKs speechIn our sleep, pain which cannot forget,falls vomit by drop upon the heart,until,in our own despair, against our will, comes wisdomthrough the awful grace of God.THE FILMThere is little plot in the Trojan women and closely no action. It is the day afterthe destruction of Troy, after ten years of siege, and the women are weeping in theashes of their destroyed metropolis and waiting by the city walls to be transported along withthe Trojan treasure to be handed out a slaves. They await their fate, but still looktowards their queen, Hecuba, for guidance and security.The women are cluster in the ashes of their now destroyed city, awaitingtransportation by the Greeks. Women and gold are the spoils of war. They all will bedished up as bo... ...vesting the characterswith an identity gives me a dimension of reality that helps to stimulate myimagination. In the case of THE TROJAN WOMEN, pre-casting was an artisticnecessity. There was no wavering in my choice of the four actresses. I do it asmuch on th e basis of their talent as for r their very special qualities as human beings,their outlook, their spirit. The spirit , and especially Katherine Hepburns, who wasthe first to unfeignedly and the last to leave the location, not only made this film possible butradiates through performances in a manner that makes thedifficult art of acting seem as natural as breathing.Claire Odeon Hershman is a psychotherapist in both private practice in London, andThe National Health Service. She is a percent time lecturer in the department ofPsychoanalytic Psychotherapy at Birkbeck College, London University. U.K.

Theories of Aggression Essays -- Biology Essays Research Papers

Theories of intrusion Two Gunman at Colorado School Reportedly Kill Up to 23 Before Dying in a Siege. On Tuesday, April 20, 1999, two students, Eric Harris and Dylan Klebold, of Columbine High School, shocked the nation when they entered the school armed with guns and explosives, killing fellow students and a teacher before taking their have lives. Stories of random violence and aggression such as this all too often plague the media. While the attention of the nation has recently been foc apply on the Colorado slayings, history reveals countless other similar crimes of aggression targeted towards innocent individuals. In both Nazi Germany and the more recent Bosnia conflict, ethnic cleansing has been used to violently eliminate certain races. In the early 1990s, Timothy McVeghs vengeful intentions led him to use a car bomb to kill hundreds of innocent race in the explosion of the Oklahoma City Federal Building. In these cases, the culprits were seemingly normal people that displac ed their aggression on innocent bystanders for a variety of reasons. What is the reach of this unleashed aggression toward society? How underside we come to explain such acts of aggression and violence? Are they a result of societal influences, or are most individuals biologically predisposed to crime? This paper attempts to analyze some of the prevailing theories of aggression. The theories can be classified into three groups innate or biological theories, safari theories and social learning theories. In light of the evidence produced for each, it is my goal to formulate a conclusion about which particular theory seems most substantiated and reasonable. Sigmund Freud is well cognize as the father of psychoanalysis. In his early theory, Freud ass... ...h murders and violence, we must regard aggression as a summated response to many factors. Individually, the factors probably are harmless, but when united, they can be unleashed as aggression in which case terrible crimes take t he lives of so many innocent people. WWW Sources1)Freuds Theory http//home.fgi.net/freud/index.htm2)Freud Biography http//werple.net.au/gaffcam/phil/psych1.htm3)Instinct Theory http//www.student.richmond.edu/efecteau/instinct.html4)Aggression Theories http//rock.uwc.edu/psych/psy330/outlines/aggression.htm5)Theories of Aggression http//www.unn.ac.uk/academic/ss/psychology/resource/it/1/HAZ.HTM6) The Theoretical Development of Aggression http//academic.csub.edu/lvega/dustin2.html7) Aggression and Violence Examining the Theories http//www.nursing-standard.co.uk/vol12-27/research.htm

Antigone--Who is the REAL tragic Hero? Essay -- essays research papers

Who is the Tragic Hero?Many may say that Creon is the tragic gunslinger of Antigone. Creon and Antigones personas are equal-and-opposite throughout this play. The story belongs to both of them. Creon is the one who makes a mistake his figure is perhaps more tragic. Hes the one that realizes that hes wrong, and he suffers for it. Antigone walks to her death with her eyes wide open, without shame. Antigone is the true hero of the play because she makes a correct, justifiable decision and dies by it. Creon is wrong. He is forced to live, sharp that three people are dead because of his ignorance, which many may say is a punishment worse than death. Since Creon is ruined in the end of the play, we might compassion him, but admiration ...

The Day of the Locust by Nathanael West Essay -- Day Locust nathanael

The Day of the Locust by Nathanael West In The Day of the Locust, unaccompanied Hackett undergoes an internal development relative to his migration. Tod, an graphic designer living in Connecticut, moves out to Hollywood to build scenery for movies. Yet, once he moves, Tod is transformed into a dreamy, non-artist who can no longer constitute his own drawings on paper. His surroundings drive these changes, as all characters in the novel are depicted in a similar fashion. Tod becomes nonpareil of the grotesque as well, laughing at the disturbing rather than the humorous. These new features signal Tods incapacity to return to his old self, as he constantly suffers from his migration. This comes enough circle at the end of the novel when Tod is led away from the mob scene at the Hollywood premiereHe was carried finished the hold up to the back street and lifted into a legal philosophy car. The siren began to scream and at first he thought he was make the noise himself. He felt hi s lips with his hands. They were clamped tight. He knew then it was the siren. For some reason this made him laugh and he began to imitate the siren as loud as he could. (185)This excerption depicts Tods migration in full from an active artist to a grotesque and lazy Californian who will never domesticate from his experience. Tods movement into the police car parallels his break to laziness in Los Angeles. When the National Films talent scout carries him off to Hollywood to learn doctor and costume design, Tod disregards the unusual fact that he is hired by telegram rather than in person (60). This provides a clue early in the novel into the ineffectual nature of Los Angeles that will eventually cause his own laziness. Even after only three months of living in Hollywood, ... ... artistic tidy sum and the disorganization relating to the Hollywood mob. Ultimately, Tod can no longer recuperate from the brutal crowd and the cacophonous sound of the siren. Instead, he loses his artist stead by conforming to the status quo, more specifically, becoming like all the people he wants to paint. In The Day of the Locust, Tod Hackett evolves from an innovative architect to a lethargic imitator. Tod likens the separate people in his painting of the destruction of Los Angeles to a grotesque, jarring mob. The final scene in the police car perfectly captures this transformation as the police carry a laughing, siren-screaming Tod off away from the Hollywood premiere. Unfortunately, Tod can never recover as his artistic abilities overhear been destroyed through migration. His migration is thus complete and final he has truly become a hopeless Californian. The Day of the Locust by Nathanael West act -- Day Locust nathanael The Day of the Locust by Nathanael West In The Day of the Locust, Tod Hackett undergoes an internal development relative to his migration. Tod, an architect living in Connecticut, moves out to Hollywood to build scenery fo r movies. Yet, once he moves, Tod is transformed into a lethargic, non-artist who can no longer create his own drawings on paper. His surroundings drive these changes, as all characters in the novel are depicted in a similar fashion. Tod becomes one of the grotesque as well, laughing at the disturbing rather than the humorous. These new features signal Tods incapacity to return to his old self, as he constantly suffers from his migration. This comes full circle at the end of the novel when Tod is led away from the mob scene at the Hollywood premiereHe was carried through the exit to the back street and lifted into a police car. The siren began to scream and at first he thought he was making the noise himself. He felt his lips with his hands. They were clamped tight. He knew then it was the siren. For some reason this made him laugh and he began to imitate the siren as loud as he could. (185)This excerpt depicts Tods migration in full from an active artist to a grotesque and lazy Cal ifornian who will never recover from his experience. Tods movement into the police car parallels his transformation to laziness in Los Angeles. When the National Films talent scout carries him off to Hollywood to learn set and costume design, Tod disregards the unusual fact that he is hired by telegram rather than in person (60). This provides a clue early in the novel into the indolent nature of Los Angeles that will eventually cause his own laziness. Even after only three months of living in Hollywood, ... ... artistic vision and the disorganization relating to the Hollywood mob. Ultimately, Tod can no longer recuperate from the brutal crowd and the cacophonous sound of the siren. Instead, he loses his artist status by conforming to the status quo, more specifically, becoming like all the people he wants to paint. In The Day of the Locust, Tod Hackett evolves from an innovative architect to a lethargic imitator. Tod likens the other people in his painting of the destr uction of Los Angeles to a grotesque, jarring mob. The final scene in the police car perfectly captures this transformation as the police carry a laughing, siren-screaming Tod off away from the Hollywood premiere. Unfortunately, Tod can never recover as his artistic abilities have been destroyed through migration. His migration is thus complete and final he has truly become a hopeless Californian.

The Day of the Locust by Nathanael West Essay -- Day Locust nathanael

The Day of the locust tree by Nathanael West In The Day of the Locust, tod Hackett undergoes an internal development relative to his migration. Tod, an architect living in Connecticut, moves out to Hollywood to build scenery for movies. Yet, once he moves, Tod is transformed into a lethargic, non-artist who tidy sum no longer create his own drawings on paper. His surroundings chock up these changes, as all characters in the novel are depicted in a similar fashion. Tod becomes one of the grotesque as well, laughing at the disturbing rather than the humorous. These new features signal Tods incapacity to return to his old self, as he constantly suffers from his migration. This comes well(p) circle at the end of the novel when Tod is led away from the mob scene at the Hollywood premiereHe was carried finished the give to the back highway and lifted into a guard car. The siren began to scream and at first he thought he was making the noise himself. He felt his lips with his hands. They were clamped tight. He knew then it was the siren. For some reason this made him laugh and he began to imitate the siren as loud as he could. (185)This take out depicts Tods migration in full from an active artist to a grotesque and lazy Californian who bequeath never recover from his experience. Tods movement into the legal philosophy car parallels his transformation to laziness in Los Angeles. When the National Films talent scout carries him off to Hollywood to learn set and costume design, Tod disregards the unusual circumstance that he is hired by telegram rather than in person (60). This provides a clue early in the novel into the purposeless nature of Los Angeles that will eventually cause his own laziness. Even after only three months of living in Hollywood, ... ... artistic vision and the disorganization relating to the Hollywood mob. Ultimately, Tod can no longer recuperate from the brutal crowd and the cacophonous sound of the siren. Instead, he loses his ar tist berth by conforming to the status quo, more specifically, befitting like all the people he wants to paint. In The Day of the Locust, Tod Hackett evolves from an innovative architect to a lethargic imitator. Tod likens the opposite people in his painting of the destruction of Los Angeles to a grotesque, jarring mob. The final scene in the police car perfectly captures this transformation as the police carry a laughing, siren-screaming Tod off away from the Hollywood premiere. Unfortunately, Tod can never recover as his artistic abilities have been destroyed through migration. His migration is thus fill in and final he has truly become a hopeless Californian. The Day of the Locust by Nathanael West Essay -- Day Locust nathanael The Day of the Locust by Nathanael West In The Day of the Locust, Tod Hackett undergoes an internal development relative to his migration. Tod, an architect living in Connecticut, moves out to Hollywood to build scenery for movies . Yet, once he moves, Tod is transformed into a lethargic, non-artist who can no longer create his own drawings on paper. His surroundings drive these changes, as all characters in the novel are depicted in a similar fashion. Tod becomes one of the grotesque as well, laughing at the disturbing rather than the humorous. These new features signal Tods incapacity to return to his old self, as he constantly suffers from his migration. This comes full circle at the end of the novel when Tod is led away from the mob scene at the Hollywood premiereHe was carried through the exit to the back street and lifted into a police car. The siren began to scream and at first he thought he was making the noise himself. He felt his lips with his hands. They were clamped tight. He knew then it was the siren. For some reason this made him laugh and he began to imitate the siren as loud as he could. (185)This excerpt depicts Tods migration in full from an active artist to a grotesque and lazy Californian who will never recover from his experience. Tods movement into the police car parallels his transformation to laziness in Los Angeles. When the National Films talent scout carries him off to Hollywood to learn set and costume design, Tod disregards the unusual fact that he is hired by telegram rather than in person (60). This provides a clue early in the novel into the indolent nature of Los Angeles that will eventually cause his own laziness. Even after only three months of living in Hollywood, ... ... artistic vision and the disorganization relating to the Hollywood mob. Ultimately, Tod can no longer recuperate from the brutal crowd and the cacophonous sound of the siren. Instead, he loses his artist status by conforming to the status quo, more specifically, becoming like all the people he wants to paint. In The Day of the Locust, Tod Hackett evolves from an innovative architect to a lethargic imitator. Tod likens the other people in his painting of the destruction o f Los Angeles to a grotesque, jarring mob. The final scene in the police car perfectly captures this transformation as the police carry a laughing, siren-screaming Tod off away from the Hollywood premiere. Unfortunately, Tod can never recover as his artistic abilities have been destroyed through migration. His migration is thus complete and final he has truly become a hopeless Californian.

The Advantages and Disadvantages of the Cinema

Recreation is as much necessary for healthy growth as work. Life will be dull and unpleasant if there is no occasional amusement to cheer it up. Therefore, from the earliest limes recreation in different forms has been introduced in healthy and civilized society. Dance, drama, singing, puppet show and various other forms of entertainment have found favour with the people. Today life of man has grown complex, copious of worries, cares and anxieties. The mechanized Way of life has bred monotony, therefore his modes of entertainment have also undergone revolutionary change. The latest and the most popular form of recreation is Cinema.Its phenomenal popularity and instruction is due to its mass appeal and that it is well within the financial limitation of common man. The people belonging to different walks of life patronize it and find it relate to their varied Interests. The power or the motion pictures as an instrument of culture and education is immeasurable. We k outright that a m otion picture based on a classical novel will induce thousands of people to read Or reread the book the introduction of a classical composition into the picture stimulates the beseech for recording of that composition. Lessons of history, geography and everyday science life imparted through it.Associated essay Pestle Analysis Odeon CinemaThe man of today is better informed than his ancestors due to cinema. so they give food for thought and imagination to the common people by showing on the screen grand objects sublime beauties and epoch-making events. The great personalities of spring times come to life and their message is communicated to the people The lives of saints and seers set high ideals before the people. They enlarge our vision and broaden our minds. FILMS DEPICT Historical, mythological and social themes design on Indian lives, whether of the past or the present make a special appeal to the people.The Cinema has been found to be the most effective method of exposin g social sliminesss such as dowry system, etc. Civic sense and public morality is engendered through them. The political awareness, fight for the rights and the general awakening of the crowd is largely contributed by Cinema. As a means of propaganda, publicity and advertisement its services are invaluable and it must be preserved and fostered at in all costs. Cinema has also thrown down the barriers of time and space. It has made man truly cosmopolitan in wit. A grand sight in shabby Norway is reproduced vividly to people in caustic Africa.A political or social revolution in one part of the country is shown the world over. Moreover, it green goddess be used as a medium for the enlightenment of other nations about our own culture, customs, manners and policies. It has often been said that one of the potent causes of international misunderstanding, hot and cold wars, is that people of different countries do not have the means to understand and appreciate each other adequately. In this honor cinema can serve the goodwill mission of presenting the correct image of the country and the people abroad.Thus, Cinema can be used for establishing mutual international understanding and pave the way for permanent world peace. However, it cannot be neglected that they are the major single factor which earn substantial and much needed foreign exchange. commercially also Cinema has opened up a lucrative pro fession. Besides encouraging young men and women to enter the field of acting, in has provided consumption to millions of people as technicians, designers, photographers, dressmakers and various allied agencies. The artists right from the storywriter to a poster designer have found a ready market for their talent. Poets and even literary men who had been looked down upon for ages have found with Cinema a fresh lease of life and livelihood. Apart from its various advantages, Cinema is not free from its evil effects. Film artistry is, unfortunately, compelled to co mpromise with peoples popular taste and appeal to their lower instincts. Too many films dealing with sex problems and with the ways of the criminals are now shown, f These are apt to affect public morality. The substandard catering of music I and recreation is likely to injure public taste and outlook and is not ultimately good for the art.The Cinema has far reaching effect upon the young of the country. The ftlms make them prematurely sex conscious and they start reacting the scenes of romantic pictures in their regular life. A sense of dissatisfaction with life is engendered among them. Vandalism and increasing acts of rowdyism in the student community are attributed to their indiscriminately frequenting the cinema halls. Again the youth imitating all sorts of fashions from the films lead to the development of expensive tastes and manners. They grow divorced from grim and dismal realities of life and start living in the fairyland pictures on the screen.In this respect the role of Government is significantly felt. Further in India Cinema has to attain the artistic and technical perfection, Government aid by way of subsidy, helping fashion of raw film and other equipment in the country admission tax reduction, encouragement to talented artists and technicians must be forthcoming. We must not forget that with abundant range of depiction and with universality of its appeal, Cinema has tremendous possibilities in our country. With our abundant and natural wealth and inexhaustible fund of rich literature, our Cinema, though young and unstable, its growth is inevitable.

Macbeths feelings

Macbeth feels great remorse and guilt for the act that he lust committed. He washs precise much that he did not kill the King and this Is shown through his excerpts in Act 2 scene 2. He describes his hands as being a sorry sight for they are drenched in the Kings blood. The blood is has a very symbolic meaning for Macbeth as the blood does not just show that he has killed the King but also that he has shown shame towards the one closest to God, and that it has now been proven that he must go ahead with being coronate King.He constantly suffers psychologically and contemplates that people will find out about his cleanup of the King and explains that he heard a voice saying that he has killed sleep so he will sleep no more. He starts acting very nervous towards the people around him, especially the servants who he killed when he axiom them straight away. He explains to Macadam that it is not possible to feel wise, amazed, temperate and furious, loyal and neutral all at once, and th at he just killed them because he saw the daggers in their hands and It would not be fair If they survived.Macbeth over exaggerates his murder eying that the blood from his hands will turn the oceans green to red and that Neptune ocean would never cloudless his hands of this act. Macbeth is starting to act guilty towards the murder and he is regretting largely what he did. There are also streaks of fear in his thinking patterns when he says to Lady Macbeth that he is afraid to think what I have done, being the Kings slaughter. These comments from Macbeth explain to us that he really does feel great remorse for killing the high Liege and that hopes no one will ever find out his horrendous crime

Health Care Transparency Essay

Healthc be transparency has been defined by the Institute of Medicine (IOM) as making gettable to the public, in a reliable and understandable manner, reading on the health fretfulness systems quality, efficiency and consumer experience with carry off, which includes price and quality data, so as to influence the behavior of long-sufferings, picturers, payers and another(prenominal)s to achieve mend outcomes (American College, 2010). Transparency allows consumers to make better informed decisions. It also helps health facilities convey information to the public. With more information in the open, there will be less overall confusion. People will be better equipped and facilities will know how they compare to other facilities.In the past transparency has been affected by lawsuits. With the risk of being sued, many physicians and hospitals did not want to divulge private information. Of course, this attitude is beginning to change. In the video Healthcare Transparency Dr. Patri ck Cawley expresses that transparency in the future will be greatly increased (Dr. Cawley, P., 2009). More information will consort to better patient care. Eventually a patient will be able to review how well up a hospital or physician is able to provide care. Everything from infection rate to waiting quantify will all be accessible to the public.I agree with all forms of medical transparency. Access to wait times will better prepare potential patients for their visits to a hospital. Knowledge of infection rates will affect how the public perceives a health institute. If infection rates are high, most likely public opinion will be able to change this. No longer will things of this nature be shrugged rancid as typical health care. If a installment is providing less than optimal care, flock will be aware of this and know to avoid the facility. This means that piteous health care facilities will rightfully fail, while prominent effective healthfacilities remain active and prospe rous. Thus means overall better patient care. If only the best health care facilities are able to thrive, more people will be able to receive optimal care.Patient propitiation surveys will also help potential patients understand the environment they are about to enter. If a staff is rude and curt than the public will form access to this. Essentially, this will encourage health care providers to give optimal quality of service to each and every patient. Of course, its important that a patients expectations are not too grand. Nothing in life is perfect and people should understand this. Busy hours and numerous patients can cause fatigue. After all, health care providers are still human. Perhaps if all physicians were machines then we could expect them all to be perfect. Performance of medical procedures will enlighten a patient of how well a hospital is able to provide a service.This in turn will allow consumers to make the best choice when selecting a facility for providing care. psyche needing back surgery should be able to locate and choose a facility right for them. If a facility performs poorly with back surgeries, the public has a right to know so that they can avoid this. People have the right to make the most well informed decision. Facility treatment of patients should unimpeachably be transparent. If a facility is trying to hide something it cant be good. People have the right to know how well a facility treats their patients. This also encourages a facility to always do their best. Ultimately, everyone wants the best health care possible.With expanded information more people will be powerful informed of all their choices. Transparency means freedom for consumers. It means more access to information, and more freedom to select the best choice. Without transparency health care is more of a guessing game. Does the facility perform well with back surgery? Who knows guess youll have to find out on your own. Of course, thats risky. tho why risk, when you can be informed? At least with information the public can make better decisions. Better decisions will ultimately lead to the best health care. The strong will survive, while the weak will perish. Poor health facilities will fail as more and more people choose the best facilities. As the best facilities succeed the health confederacy will become stronger as a whole. A strong health community will lead to an overall better equipped public community.ReferencesAmerican College of Physicians. (2010). Health Transparency. Retrieved from http//www.acponline.org/advocacy/current_policy_papers/assets/transparency.pdfDr. Cawley, P. (2009). Health Care Transparency. Retrieved from https//portal.phoenix.edu/medialibrary/videodetails.05V130128092014044.html

Case study Partnership Principles

Early on childhood guidance plays a critical turn as it is the first measure to further physical and cognitive competency in bend to act upon a individual s womb-to-tomb science and accomplishment. To spiel as a successful early childhood pedagogue, empathy and an appreciation of the early childhood course of study Te Whariki is requested. A foresightful with this ordinance, an wakeless league among pedagogues and whanau has appeargond as an indispensable and wanted assistance to accomplish the mark successfully to achieve a quality accomplishment for peasants s scholarship and split upment. Harmonizing to this, the splendour of union in the circumstance of early childhood service and its cardinal constituents to implement willing be discussed in this essay.Definition of t distributivelyer-parents ( whanau ) partnershipThe term partnership is used to depict a mutual relationship between two parties who collaborate on a joint drill or undertaking. With different v alued beliefs which may happen in the procedure of coaction, instructors and whana, in this partnership, complement individually other in assorted learning attacks to advance a valuable and excerpt early childhood instruction service for kids.Similarly, the impression of Te Tiriti o Waitangi, which states about partnership between people who from different cultural backgrounds, Maori and pakeha, to mahi tahi work unitedly ( Presbyterian Church of Aotearoa New Zealand, 1992. ) in any fortunes.For this ground, in Aotearoa/ New Zealand, the early childhood course of study Tellurium Whariki have employed the impression of Te Tiriti o Waitangi and suggested in its bicultural attacks for an equal and respectable attitude in learning attacks.Effective partnership and cardinal constituentsTeachers attitude in a partnership with whanau and the crack of teaching method are influential to win the early childhood service ( Lindon, 1997 ) . As Stonehouse ( 1994 ) insisted, unless staf f in kids s services give antecedency to relationships with parents, they do non assist kids ( p55 ) . Along with the Guiding Principles of Quality in Action, it has withal mentioned directors and instructors should work together by admiting parents as first pedagogues and by working collaboratively to develop shared ends and outlooks ( Ministry of Education,1998, p. 14 ) . Therefore, coaction with parents/whanau in the context of early childhood Centre is one of major appraisal for all pedagogues while promote the warmness service. In short, a figure of cardinal constituents to accomplish effectual partnership are listed as mentionsEmpowerment & A InvolvementHarmonizing to Family and Community , a find in Te Whariki, instructors should admit that the engagement of whanau in their instruction attacks is indispensable Families should be portion of the appraisal and rating of the course of study ( Ministry of Education, 1996, p. 30 ) . Likewise, in order to authorise pare nts/whanau to recommend their kids and do determinations or to act upon the patterns for their kids s own(prenominal) goods ( Keesing Styles, 2000 ) , an appropriate teaching method demands to be settled. For lesson, plan a programme for parents/whanau to construct a house endure portfolio with their kids. These attacks are to promote whanau to analyze Centre s policies and teaching method by take parting their ain kids s acquisition and emergence procedure. A positive respect and trust between whanau and instructors will be formed whithin the procedure.Communication Communication must be meaningful and effectual as it is communicating that forms the footing of partnership ( as cited in Grey & A Horgan, 2003, para 18 ) .Inviting whanau to fall in regular merging to discourse their kid s learning advancement, involvements, abilities and countries for development on a regular footing, sharing specific observation-based grounds ( Ministry of Education,1998, p. 55 ) can be a pr oper channel for an effectual communicating. Manager and pedagogues should guarantee the communicating with parents/whanau are continued and in two-way. The intent in this attack is for interchanging positions and back uping the single demands. It is besides a scheme to further parents assurance in the context of early childhood service and increase the chance to better learning attacks by geting their key advices. In add-on, a positive attitude to accept and esteem different ideas or peculiar questions is indispensable.Consultation Parental apprehensions and outlooks will change kids s outlooks of themselves ( Ministry of Education, 1996, p. 30 ) . Consultation is the procedure of garnering information to accomplish shared apprehensions, ends, and outlooks that will inform determination devising ( Ministry of Education,1998, p 51 ) . A statement of doctrine is an illustration to show Centre s cardinal beliefs, vision, values and Centre s instruction. This attack will derive the trust and support from parents/whanau.Decision Partnership between parents and professionals is feigned as the integrating of different wisdoms ( as cited in Grey & A Horgan, 2003, para 16 ) . Contribution from partnership between parents and instructors is valuable in the context of early childhood instruction service as it may act upon the consequence of kids s acquisition and development. In the decision, the authorization and engagement of parents/whanau and appropriate conference and confer withing channels from instructors can assist to build a echt partnership to win the end for a quality service of kids s acquisition and development. However, an effectual partnership may hold trouble to keep, for case, hard personality or unacceptable belief, which may ensue from how an pedagogue perceives him/herself in function of the instruction and how they encourage parents/whanau to step on this partnership.Effective Partnership In ActionIntroductionTo build an effectual partners hip with parents/whanau is more hard than holding a pleasant relationship with kids. The ground what I observed is grownups have complex ideas which acquired from the experiences of societal world for protecting themselves from selfishness and injuries. In a relationship of partnership, when differences of personality, belief or value come out, they mislead the determination and neglect to make the end. Unfortunately, this state of affairs go on easy and it ever necessitate a long clip solve and keep the relationship in stable because we are grownups who might come from unexpected background as we need to cognize each other first so acquire into deeper relationship to join forces with. To be a negotiable individual and acquiring effectual communicating accomplishment with an opened-mind will advance quality partnership relationship in this instance. Furthermore, a positive attitude of trust and regard is a cardinal constituent to build an effectual partnership. As an early childhood instructor, there is a necessary to hold a self-awareness, to accept single differences, to be courageous plenty for challenges and the ability of subscriber line work outing since they all count as factors of accomplishment of partnership. In short, to larn to build effectual partnership with parents/whanau, we need more hand-on experience to grok the incur and detect the grade of understanding while using our cognition into pattern. It is an outlook for my acquisition for become a professional in early childhood instruction service.Personal instance surveyMy brother has a boy named Alvin. He is 16-month old. We live together and I help to look after small Alvin in my trim clip while the parents are busy. Alvin has a strong fond regard with me as I had proven from his actions. He normally becomes exciting when he seeing me around and so be given to run towards me for a large clinch even his parents are playing with him. From my observing, his parents have their ain attacks to e nroll their ain kid which virtually of them are against mine. They have pride and have no willing to portion the experiences of Alvin s lovingness to others. In effect, Alvin have had a cautious lovingness from them, for illustration, no outdoor walk without places, no H2O playing and has no much chance to larn to eat by himself as I think he is large plenty to make those in his age. In fact, he is already a 16kg 70cm fittingness male child and he understands our words most of clip. My teaching method encouraged him to research and meet his milieus safely through our interaction. This could be the ground he has strong fond regard to me and intend to listen what I say when he has emotional upset instead than his male parent. In this state of affairs, I feel abashed and flake in my brother s green-eyed monster and a tense relationship with my sister-in-law. They had complain my action is about to replace their function as kid s ain parents. It sounds a large job in our relationship .Interpersonal communicating schemesI think our relationship is form as a partnership relationship as I am insouciant carer of Alvin and they are parents. Through our see stuff for partnership rule and some advises from instructors who are working in my support Centre. I had thought about my job which leads the tenseness between me and Alvin s parents need to be solved by my attitude with communicating scheme. My apprehension from the rule of partnership and Te Whariki acknowledged that I had break the regulation of empowerment which insists the mandate of parents right and to authorise parents to do determination for their kid s ain goods ( Keesing Styles, 2000 ) . Therefore, I could non derive the regard and trust from my brother or my sister-in-law in this partnership, alternatively, a negative feedback came. Listed some good illustrations from Quality in Action. They are utilizable assistance to work out my job in this cautiousness partnership and it works good in my patter n.Provide chances for parents/whanau to discourse their kid s larning procedure, involvements, abilities and countries for development and sharing specific observation Acknowledge the rights of all parents/whanau and their aspirations for their kids Listen, value and esteem the positions of parents/whanau Invite and empower parents/whanau to lend through their engagement in the synergistic activity Consult and discourse with parents/whanau about learning attacks that concern their kids Make parents/whanau feel comfy to show their concerns Less the fond regard with kids and promote them to interact with parents and bear on their relationship In order to delight our relationship from this state of affairs I had explained. I applied the above attacks and communicating accomplishments learned from reading and advises from instructors of support Centre into pattern. As the consequence, trust and regard from Alvin s parents have dismissed my concerns from our tense relation ship. I move Alvin s attending back to his parents by promote his trust to his parents when we are all in the same room. For illustration, please listen to what mum/dad said and Dendranthema grandifloruom can assist him or yes, mum/dad is right, why do nt you travel with them and look into what will go on? It must be good. In those interaction, There are some suggestion that I gave as deductions to avoid a misinterpretation for taking off parents power from Alvin s lovingness. For illustration, I asked for parents permission and their willing before I gave Alvin something else that they have non provided yet. It besides comforted me that we could hold chances to play hide-and-seek with parents engagement and work together with the same purpose do Alvin happy.DecisionIn decision, I am larning to supply a quality lovingness to my nephew through playing and larning from grownups without confounding which side is right or incorrect. The partnership between me and Alvin s parents is twist positively in advancement. I had recognized the importance of partnership in child care service as we can back up each other s clip, ability and intelligence as complementation to accomplish our common end for kids s demands. As from my experiences, my communicating accomplishment and attitude with parents, who are besides relation of mine, shall acquire more betterment as I do hold a willing to go a professional and work in the context of early childhood instruction service. I will neer halt learn or halt my patterns. It is besides fortunate to hold this experience at place that I could larn from it before I may run into the same state of affairs at workplace.

Customer feedback Essay

The purpose of this report is help Dave Smith, the General Manager of the drainage ara Hotel Auckland to improve the hotels current customer satisfaction measurement scheme by comparing a range of mickle methods and presss the most appropriate field programme for the hotel. The report is broken down to two sections. The first section defines guest satisfaction and articulates the importance of measure customer satisfaction. Section one similarly comp ares the functions of CSQs and TripAdvisor.com and introduces the content analysis method to the Landmark Hotel.The second part of the report defines measures of central angle of inclination and dispersion and lay outs calculations from the guest survey spreadsheet provided. Based on compendium table 1.1, the report briefly describes what the calculations mean to the hotel and produced a short recommendation. The report is produced with several limitations, which need to be addressed and overcome for future query. The recomm endation make to Landmark Hotel under the first part, regarding the most appropriate research method was selected based on one of only two options. Further, since there is no stock(a) ways to perform content analysis, the report simply presented what appeared to be the most logical procedure. Finally, the recommendation regarding intragroup merchandise was much generalised due to forge limits.PART ADefining Customer SatisfactionCustomer satisfaction has been a topic of great importance in businesspractices. There is an whelm amount of outcome explanations characterising customer satisfaction, many of which have not yet been empirically tested. According to Yi (1993), some academics and practitioners define customer satisfaction from an outcome-based approach. Alternatively, other perceives and defines customer satisfaction as a process.Engel and Blackwell (1982) defined customer satisfaction as an evaluation that the chosen alternative is consistent with prior beliefs with re spect to the alternative (p. 501). This definition is comparable with the disconfirmation theory, which proposes that guests are either satisfied or dissatisfied based on their expectations prior and subsequent to the purchase of the actual service experience. In this section, we are particularly concerned with the importance of measuring customer satisfaction. Fortunately, this head word weed be answered directly using the service-profit chain. The service-profit chain is simply a proposition of a series of linkages between profitability, customer loyalty, and employee satisfaction, loyalty, and productivity (Heskett, Jones, Loveman, Sasser & Schlesinger, 1994, p. 164).Customer satisfaction represents a crucial role in the service-profit chain because satisfaction is essentially a device driver of customer loyalty (retention, repeated business and referrals), which directly impacts the profitability of a hospitality firm. Customer satisfaction is extremely important because it pr oduces word-of-mouth, reduces operating overheads and facilitates price premiums (Denove & Power, 2006). hospitality firms constantly look for more effective ways to measure customer satisfaction. Managers try to achieve greater accuracy in survey outcomes and use them to reliably address the gaps between managements visions and the customers needs.Comparing Data Collection MethodsGuest Feedback FormsGuest feedback forms, comment card game or customer satisfaction questionnaires (CSQs) are frequent tools used by most hotels for measuring customer satisfaction. Barsky (1992) stated two major disadvantages of guest comment cards, poor urinate validity poor statistical validity (Barsky, 1992,p. 51). Yesawich (1978) also hypothetically considered CSQs as more often than not, unreliable and statically invalid (p, 72). Barsky (1992) further argues that guest comment cards whitethorn indicate customer satisfaction or dissatisfaction and related trends, but generally does not provide suff icient information for decision-making. Poria (2004) outlined several diagnose advantages of using CSQs during guest complaints. Poria claimed that asking the guest to fill in CSQ would allow the staff extra time to resolve the problem and calms the guest.Tripadvisor.comIn comparison with CSQs, Tripadvisor.com is an online fundamental interaction platform. Unlike the majority of quantitative methods, online customer reviews often articulate psychological changes of the hotel guests. According to Li, Ye and Law (2012), online reviews are more likely to convey guests true feelings, which make up for the missing information that was not captured by guest surveys. Tripadvisor.com and other eWOM platforms allow managers to interact with the guests, form one-to-one dialogues and perform qualitative content analysis. meaning analysis is a systematic and objective approach to make inference from written data (DowneWamboldt, 1992). Like all qualitative research methods, content analysis is concerned with meanings and contextual aspects of a service experience. nitty-gritty analysis can be described as an intensive exploration of a single customer review and typically, managers look for rich and vivid descriptions in the review, rather than generalised knowledge. However, content analysis and comparable qualitative research methods may lack scientific validity. Thus, it is difficult for managers to make reliable generalisations from a confined savour size.Research Methods and DesignThe Landmark Hotel needs to go beyond measuring performances and begin to understand perceptions and gain practical and context-dependent knowledge relating to specific guest experiences. I recommend the Landmark Hotel to revolve about on qualitative content analysis. Content analysis can be performed on online guest reviews as well as guest comment cards. Additionally, I recommend the use of open-ended question in guest comment cards in order to provide greater insights to the guests fee lings (Lukas, Hair, Bush & Ortinau, 2005). According to Guthrie and Abeysekera (2006), content analysis requires a randomly selected sample, clearly defined criteria of analysis and a systematic data categorisation method, so that statistical analysis of the data can be performed. DowneWamboldt (1992) proposed an octad step procedure that the researcher should follow when conducting content analysis.These steps can be briefly described as 1) selecting unit of analysis, 2) defining the categories, 3) defining the categories, 4) testing for reliability and validity, 5) define or revise coding rules, 6) pre-testing the revised category schemes 7) data coding and 8) reassessing reliability and validity. According Markovi and Raspor (2010), reliability of content analysis can be improved by developing coders for similar contents. Data coding allow researchers to measure frequency and percentage through tabulations, compute measures of central tendency and dispersion, test for differenc e, association and interdependence by performing t-tests and chi-square analysis using SPSS applications.IntegrationAfter the results have been analysed and interpreted, the researcher can choose to integrate and present the research outcomes within the hotel using an analytical report that is credible and believable. The report clearly defines the research problem/issue and the research methodology, which clearly articulates the objectives of the research, the research fig used, descriptions of samples and the sampling methods and the how data are analysed. The results section is the most important section. This section should contain presentations of findings that are relevant to the research problem. The report should also contain a conclusion section, a recommendation and a limitation section which illustrates extraneous events that place certain restrictions on the report (Lukas, et al., 2005, p. 557).PART BCalculations and Definitions of MeasurementsConsidering the guest surv ey spreadsheet, I have calculated the measures of central tendency and dispersion for each behavioural intention scale. For measures of central tendency, I have computed the mean, median and mode respectively. These measures are used as data reduction, which describes the set of responses through a single value. The mean is the arithmetic average of the sample (Lukas et al., 2005, p. 436). The mean is derived from the sum of all value pertained from the responses and divided by the exact number of valid responses.The median is the middle value of a rank-ordered dispersal (Lukas et al., 2005, p. 436). The mode is defined as the most ordinary value in the set of responses to a question (Lukas et al., 2005, p. 436). Standard deviation is a measure of dispersion. It is defined as the average distance of the distribution value from the means (Lukas et al., 2005, p. 438). The Excel function which I have used to compute the hackneyed deviation of the data given was STDEV.S. STDEV.S esti mates standard deviation from a sample rather than the entire population.The guest survey spreadsheet provided a number of intention statements aimed to obtain some ideas about guest experiences for certain aspects of the hotel. The management hoped to explore the guests intended behaviours as much as possible and the likelihood that guests will demonstrate predictable behaviour towards staying at the hotel in the foreseeable future. tabulate 1.1 shows that first and second rating scale demonstrated a lower average value in comparison with other rating scales. Evidently, service standard and staff competence to make guests feel accustomed during their stays did not meet the required expectations. Question eight also shows that on average, guests would not recommend the Landmark Hotel to others.RecommendationsI postulate that service quality could be a major contributory factor to declines in booking rates. According to Parasuraman, Zeithaml and Berry (1985), there are ten determina nts of service quality competence, courtesy, reliability, responsiveness and understanding are five relatively important determinants directly influenced by staff. Additionally, empathy and assurance are spare components of service quality directly determined by hotel personnel, as proposed in the SERVQUAL scale (Parasuraman et al., 1988). For the purpose of restoring and improving service quality, I recommend an adjustment of focus onto internal marketing activities.According to George and Gronroos (1991), internal market of employees is best motivated for service-mindedness and customer-oriented behaviour by a marketing-like approach, where marketing-like activities are used internally (p. 86). Internal marketing is essentially a process of building a customer-oriented culture through gentility and achieving internal satisfaction. Internal marketing implies a number of activities besides training utilisation. Take, for example, regularly assessing internal satisfaction, empower ment, and the provision of adequate supervisory support, open communication policies and the development of a sound reward system all forms part of internal marketing activities that seeks to achieving continuous quality improvements.ReferencesBarsky, J. D. (1992). Customer satisfaction in the hotel industriousness meaning and measurement. Journal of Hospitality & Tourism Research, 16(1), 51-73. Denove, C. & Power, J. D. (2006). Satisfaction How every great political party listens to the voice of the customer. New York, NY Portfolio. Downe-Wamboldt, B. (1992). Content analysis method, applications, and issues. Health care for women international, 13(3), 313-321. Engel, J. F., & Blackwell, R. D. (1982). Consumer behavior. New York, NY Hole, Rinehard and Winston. George, W. R., & Gronroos, C. (1989). Developing customer-conscious employees at every level internal marketing. Handbook of services marketing, 29-37. Guthrie, J., & Abeysekera, I. (2006).Content analysis of social, environ mental reporting what is new?. Journal of Human Resource Costing & Accounting, 10(2), 114-126. Heskett, J. L., & Schlesinger, L. A. (1994). Putting the service-profit chain to work. Harvard business review, 72(2), 164-174. Li, H., Ye, Q., & Law, R. (2012). Determinants of customer satisfaction in the hotel industry An application of online review analysis. Asia Pacific Journal of Tourism Research, (ahead-of-print), 1-19. Lukas, B. A., Hair, J. F., Bush, R. P., Ortinau, D. J. (2005).Marketing research. North Ryde, NSW McGraw-Hill Australia Pty Limited. Markovic, S., & Raspor, S. (2004). Measuring perceived service quality using SERVQUAL a case theatre of operations of the Croatian hotel industry. Management, 5(3), 195-209. Parasuraman, A., Zeithaml, V.A. & Berry, L.L. (1985). A conceptual model of service quality and implications for future research. Journal of Marketing, 49, Fall, 41-50. Parasuraman, A., Zeithaml, V.A. & Berry, L.L. (1988). SERVQUAL a multiple-item scale for measur ing consumer perceptions of service quality. Journal of Retailing, Spring, 12-40.Poria, Y. (2004). Employees interference with the distribution of guest satisfaction questionnaires. International Journal of Contemporary Hospitality Management, 16(5), 321-324. Yesawich, P. C. (1978). Post-opening marketing analysis for hotels. Cornell Hotel and Restaurant Administration Quarterly, 19(3), 70-81. Yi, Y. (1993). The antecedents of consumer satisfaction The moderating role of ambiguity. Advances in Consumer Research, 20, 502506.

Surgical Technology

In order to apply these concepts you first need to understand ways to try the Issues. How is ethics defined? According to the Ethics warmness for Engineering and Research, ethics means being concerned with what Is right or wrong, good or bad, fair or unfair, responsible or irresponsible, obligatory or permissible, praiseworthy or blameworthy. (Online Ethics Center for Engineering, 2006) It Is associated with guilt, shame, indignation, resentment, empathy, compassion, and anguish. It Is being Interested In character as well as conduct.This obligate presents twain ways to evaluate po ten dollar billtial ethical questions First is the utilitarianism system. This system concerns itself with determining the greater good and what decision will be beneficial to the most people. The second system presented Is the deontological system. chthonian this system, a regulateer would look at the needs of the individual and determine the best course of action for the patient themselves. There is no suggestion that these two methods should conflict. In fact, quite often, what is best for a patient is often what is best for society as a whole.The robber arises In the Instances where these two methods conflict. In these cases, a worker must apply the concept of prudence. This Is the Idea that a salary person would make the same decision under the same circumstances. After presenting the customary concepts of ethics, the author lists several examples of situations where questions of this nature may arise. Personal decisions such as abortion, Dens, drug use, and sterilization are explored. Society decisions to allow animal and human experiment and organ transplantation are also reviewed.Situations that could tangentially cause a worker to be uncomfortable are examined. The author points out how difficult it is notice a DEN patient pass without acting can be. The issue of a patients right to privacy Is also delved Into. A patient Is not needed to reveal their HIVE status e ven though this could pose a danger to any worker in the operating room. Quality versus quantity of look is explained, however, the ethical chore is not a decision that needs to be made. In this case, the law has already determined assisted suicide Is not an option.The problem lies in the workers desire to help a wing individual die, even though they are unable to do so. This instance shows that ethical problems do not necessarily Involve decision making on the surgical technicians, just rather a state of mind in many circumstances. Despite the medical exam reason one might have for being hospitalized or bootd for by a health care professional In an operating room desktop and, regardless of how ethically or unethically the medical situation may be perceived through the eyes of the medical 1 OFF professional, It Is ten Neal care proportionals duty to De Touches on ten patient.The patient has a right to quality health care regardless of the circumstances or situations surroundin g the procedure. This includes, but is not limited to, any situation that evokes an inevitable emotional human response. The underlying theme in patient care and ethics is that the health care workers feelings do not play into the decisions that need to be made for the patient nor do they have any bearing on what is best for society as a whole. Our responsibilities, as Purpose Surgical Technologists, go beyond the mere ability to perform our daily Job functions.Our position is all encompassing in that, not only does it include the use of surgical instruments and equipment towards promoting health and well being, but it also extends to the rights of the patients under our care to receive the best quality, appropriate care within the patients wishes and desires. We, as health care professionals, owe it to our patients to give them the highest possible quality of care of which we are capable. Uses in Career In order to be able to provide care without Judgment you need to do some deep s oul searching and have a complete understanding of your ethical beliefs and biases.Once you have that understanding, if you find your ethical beliefs could interfere with your work performance, you need to share these feelings with your employer. Each patient is entitled to the same level of understanding regardless of your individual(prenominal) Judgment. What you feel or believe to be wrong does not necessarily have a bearing on what is best for the patient. Summary The intent of this article is to point out the various ways a health care professional can evaluate circumstances they may encounter in the work place.They can determine what is the best ethical course of action for society as a whole, they can determine what is best for the patient and his or her in-person situation, or they can combine the two methods and approach the situation prudently. No matter which approach is taken, it is always best to take your personal feelings and emotions out of the equation. The fanny line is to combine doing what is right in general with what is right for the patient. Even in a surgical situation, customer service is paramount. Putting yourself in another(prenominal) persons shoes may be a simple click, but it goes a long way in this occupation.

Impact of Fdi in Life Insurance Sector

A Comprehensive Project ON touch of inappropriate Direct Investment in look restitution Industry Submitted to Gujarat Technological University IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION UNDER THE charge OF Prof. Himanshu Chauhan Submitted by Pratik PanchalEnrollment No. 117010592053 Ajay vajaEnrollment No. 117010592077 YEAR 2011-2013 MBA SEMESTER III Affiliated to Gujarat Technological University Ahmedabad DECLARATIONWe, Panchal PRatik and Ajay Vaja student of AHMEDABAD INSTITUTE OF TECHNOLOGY hereby, decl ar that the Project report on Impact of Foreign Direct Investment on Indian indemnification is our original work and has not been published elsewhere. This has been on a lower floortaken for the purpose of partial fulfillment of GUJARAT TECHNOLOGICAL UNIVERSITY indispensability for the purity of the degree of Master of Business Administration. (Signature) Date __/__/2012Pratik Panchal Place Ahmedabad Ajay Vaja Acknowledgement Perseverance, inspiration and motivation require played a great role in the success of any venture.We argon thankful to our collage for freehanded us the opport building blocky to work with such an eminent section of Indian fiscal firmament. We be grateful to our faculty mentor Prof. Himanshu Chauhan for guiding us passim the project and for supporting us through his constant guidance and encouragement. For their immense uphold in making our project fruitful. Fin altogethery, not to miss any cardinal, we thank all the people who have directly or indirectly helped us a lot throughout the project time period and in completion of our project successfully. Panchal Pratik P. Ajay Vaja MBA- IIIInstitutes Certificate Certified that this Comprehensive Project Report Titled Impact of Foreign Direct Investment insprightliness policy Industry is the bonafide work of Mr. Pratik Panchal (Enrollment No- 117010592053. )& Ajay Vaja (Enrollment No- 117010592077. ) who carr ied out the research under our supervision. We withal certify further, that to the dress hat of my knowledge the work reported herein does not form part of any early(a) project report or dissertation on the basis of which a degree or award was conferred on an earlier occasion on this or any other do-nothingdidate.Signature of the Faculty Guide (Prof. Himanshu Chauhan) (Dr. NehaParashar) (Certificate is to be countersigned by the HoD) INDEX CHAPTER NO. NAME paginate NO. 1. INTRODUCTION Introduction of intent Insurance industryIntroduction of FDIImpact of FDI in INDIA 2. LITERTURE REVIEW 3. RESEARCH METHODOLOGY a) OBJECTIVES OF THE STUDY b) SCOPE OF THE STUDY C)RESEARCH DESIGN c) RESEARCH example d) SOURCES OF DATA e) SAMPLING PLAN f) DATA ANALYSIS g) DATA COLLECTION CONCLUSION 4. REFERENCES support InsuranceLife damages policywas initially knowing to protect the income of families, particularly little families in thewealth accumulationphase, in the event of the head of households death. Today, life amends policy is employ for many reasons, includingwealth preservationandestate taxplanning. Life redress provides you with the opportunity to protect yourself and your family from individual(prenominal) risk exposures like repayment of debts after death, providing for a surviving spouse and children, fulfilling other economic goals (such as displace your kids through college), leaving a charitable legacy, paying for funeral expenses, etc.Life damages egis is excessively important if you are a agate line owner or a key person in some hotshot elses vexation, where your death (or your partners death) cogency wreak financial havoc. Life indemnification is a great financial planning tool, exclusively should never be thought of as a savings vehicle. In global, thither are often far crack places to hold and grow your funds as you get senior. History of Life Insurance in India In India, redress has a deep-roote d history. It hears mention in the writings of Manu (Manusmrithi), Yagnavalkya (Dharmasastra) and Kautilya (Arthasastra).The writings address in terms of pooling of resources that could be re-distributed in times of calamities such as fire, floods, epidemics and famine. This was probably a pre-cursor to modern day damages. Ancient Indian history has keep the earliest traces of redress in the form of marine trade loans and carriers contracts. Insurance in India has evolved all over time heavily drawing from other countries, England in particular. 1818 truism the advent of life insurance backup in India with the establishment of the oriental person Life Insurance Company in Calcutta. This Company however failed in 1834.In 1829, the Madras impartial had begun transacting life insurance business in the Madras Presidency. 1870 saw the enactment of the British Insurance Act and in the know three hug drugs of the nineteenth century, the Bombay mutual (1871), Oriental (1874) and Empire of India (1897) were projected in the Bombay Residency. This era, however, was dominated by unusual insurance offices which did good business in India, namely Albert Life Assurance, Royal Insurance, Liverpool and London Globe Insurance and the Indian offices were up for hard competition from the impertinent companies.In 1914, the organization of India started publishing returns of Insurance Companies in India. The Indian Life Assurance Companies Act, 1912 was the first statutory cake to solidification life business. In 1928, the Indian Insurance Companies Act was enacted to enable the Government to collect statistical information near both life and non-life business transacted in India by Indian and extraneous insurance agents including forethoughtful insurance societies.In 1938, with a view to protecting the interest of the Insurance public, the earlier legislation was consolidated and revise by the Insurance Act, 1938 with comprehensive provisions for rough-a nd-ready control over the activities of insurers. The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there were a large consider of insurance companies and the level of competition was high. in that respect were also allegations of unfair trade practices. The Government of India, therefore, decided to nationalize insurance business. Birth of Life Insurance of IndiaAn Ordinance was issued on 19thJanuary, 1956 nationalizing the Life Insurance domain and Life Insurance alliance came into existence in the same year. The LIC absorbed 154 Indian, 16 non-Indian insurers as also 75 provident societies245 Indian and impertinent insurers in all. The LIC had monopoly till the late 90s when the Insurance orbit was reopened to the clubby orbit. The history of general insurance dates back to the Industrial Revolution in the west and the consequent harvest-tide of sea-faring trade and commerce in the 17th century. It came to India as a legacy of British occupation .In 1968, the Insurance Act was amended to regulate coronation fundss and set minimum solvency margins. The Tariff Advisory Committee was also set up then IRDA and Opening of Life Insurance Business in India This millennium has seen insurance come a full circle in a journey extending to nearly 200 years. The process of re-opening of the area had begun in the early nineties and the last decade and more has seen it been opened up substantially. In 1993, the Government set up a committee under the chairmanship of RN Malhotra, former governor of RBI, to propose recommendations for reforms in the insurance sector.The objective was to complement the reforms initiated in the financial sector. The committee submitted its report in 1994 wherein, among other things, it recommended that the mysterious sector be permitted to write in code the insurance industry. They stated that foreign companies are allowed to enter by floating Indian companies, preferably a joint venture with Indian pa rtners. Following the recommendations of the MalhotraCommittee report, in 1999, the Insurance Regulatory and increment Authority (IRDA) was constituted as an gondolanomous body to regulate and develop the insurance industry. The IRDA was bodied as a statutorybody in April, 2000.The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through emergenced consumer choice and demoralize agiotages, while ensuring the financial security of the insurance market. The IRDA opened up the market in August 2000 with the invitation for application for registrations. Foreign companies were allowed ownership of up to 26%. The Authority has the power to haul up regulations under Section 114A of the Insurance Act, 1938 and has from 2000 onwards framed various regulations ranging from registration of companies for carrying on insurance business to fortress of policyholders interests.Today there are 23 life insurance companies operating in the coun try, including LIC a public sector company and 22 other undercover sector life insurance companies competing with LIC for Life insurance business from the customers in India. Regulatory Framework for Life Insurance in India The main regulation that regulates the life insurance business is the Life Insurance Corporation Act, 1956. DepositsEvery insurer should, in respect of the insurance business carried on by him in India, deposit with the Reserve Bank of India (RBI) for and on behalf of the Central Government of India the following measuring rods, either in cash or in approved securities estimated at the market nurse of the securities on the day of deposit, or partly in cash and partly in approved securities * In the case of life insurance business, a sum equivalent to one per cent of his numerate plebeian allowance written in India in any financial year commencing after the 31 day of March, 2000, not exceeding rupees hundred gazillion..Investments Every insurer is required to invest and keep invested cert ain heart and soul of assets as determined under the Insurance Act. The funds of the policyholders cannot be invested (directly or indirectly) outside India.An insurer manifold in the business of life insurance is required to invest and keep invested at all times assets, the value of which is not less than the sum of the amount of its liabilities to holders of life insurance policies in India on describe of matured claims and the amount required to meet the liability on policies of life insurance maturing for payment in India, reduced by the amount of bounteousnesss which have fallen due to the insurer on such policies but have not been paid and the days of forbearance for payment of which have not expired and any amount due to the insurer for loans granted on and within the surrender values of olicies of life insurance maturing for payment in India issued by him or by an insurer whose business he has take awayd and in respect of which he has a ssume liability. Every insurer carrying on the business of life insurance is required to invest and at all times keep invested his controlled fund (other than funds relating to pensions and general annuity business and unit linked life insurance business) in the following manner, free of any encumbrance, charge, hypothecation or lienFor the purposes of calculating the investments, the amount of deposits made with the RBI by the insurer in respect of his life insurance business shall be deemed to be assets invested in Government securities. In computing the assets to be invested by the insurer, any investment made with reference to the gold other than the Indian rupee which is in excess of the amount required to meet the liabilities of the insurer in India with reference to that currency to the outcome of such excess and any investment made in barter for of any immovable property outside India or on forecast of any such property shall not be taken into account.Further, an insurer should not out of his controlled fund invest any sum in the constituents or debentures of any private limited company. Where an insurer has accepted reassurance in respect of any policies of life insurance issued by another insurer and maturing for payment in India or has ceded reassurance to another insurer in respect of any such policies issued by himself, the assets to be invested by the insurer shall be increased by the amount of the liability involved in such acceptance and decreased by the amount of the liability involved in such cession.In case of an insurer in unifiedd or domiciled outside India or an insurer incorporated in India whose share uppercase to the extent of one-third is owned by, or the members of whose governing body to the extent of one-third consists of members domiciled elsewhere than in India, the assets required to be invested should, (except to the extent of any part which consists of foreign assets held outside India) be held in India by way of a trust for the discharge of the liabilities.Every Insurer shall invest and at all times keep invested his segregated fund of unit linked life insurance business as per pattern of investment offered to and approved by the policy-holders. The insurer is permitted to offer unit linked policies only where the units are linked to categories of assets that are both saleable and easily realizable. However, the total investment in other approved category of investments should at no time exceed twenty five per cent of the funds. number of Life Insurance Companies in India 1. Bajaj Allianz Life Insurance Company hold . Birla Sun Life Insurance Co. Ltd 3. HDFC Standard Life Insurance Co. Ltd 4. ICICI Prudential Life Insurance Co. Ltd 5. ING Vysya Life Insurance Company Ltd. 6. Life Insurance Corporation of India 7. Max Life Insurance Co. Ltd 8. Met Life India Insurance Company Ltd. 9. Kotak Mahindra Old Mutual Life Insurance Limited 10. SBI Life Insurance Co. Ltd 11. Tata AIA Life Insurance Compa ny Limited 12. Reliance Life Insurance Company Limited. 13. Aviva Life Insurance Company India Limited 14. Sahara India Life Insurance Co, Ltd. 15. Shriram Life Insurance Co, Ltd. 6. Bharti AXA Life Insurance Company Ltd. 17. Future commonplacei India Life Insurance Company Limited 18. IDBI federal Life Insurance 19. Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. 20. AEGON Religare Life Insurance Company Limited. 21. DLF Pramerica Life Insurance Co. Ltd. 22. Star amalgamation Dai-ichi Life 23. IndiaFirstLife Insurance Company Limited 24. Edelweiss Tokio Life Insurance Co. Ltd. Types of Life Insurance Life insurance protection comes in many forms, and not all policies are created equal, as you will soon dis deal.While the death benefit amounts may be the same, the costs, structure, durations, etc. vary tremendously across the types of policies. WHOLE LIFE Whole life insuranceprovides fixd insurance protection for the entire life of the insured, otherwise known as permanent coverage. These policies carry a cash value component that grows tax deferred at a contractually guaranteed amount (usually a low interest rate) until the contract is surrendered. Thepremiumsare usually level for the life of the insured and thedeath benefitis guaranteed for the insureds lifetime.With satisfying life payments, part of your premium is applied toward the insurance portion of your policy, another part of your premium goes toward administrative expenses and the balance of your premium goes toward the investment, or cash, portion of your policy. The interest you accumulate through the investment portion of your policy is tax-free until you withdraw it (if that is allowed under the terms of your policy). both withdrawal you make will typically be tax free up to your basis in the policy. Your basis is the amount of premiums you have paid into the policy minus any prior dividends paid or previous withdrawals.Any amounts withdrawn above your basis may be taxed as ordinary income. As you might expect, given their permanent protection, these policies tend to have a frequently higher initial premium than other types of life insurance. further, the cash build up in the policy can be use toward premium payments, provided cash is available. This is known as a participating whole life policy, which combines the benefits of permanent life insurance protection with a savings component, and provides the policy owner some additional payment flexibleness. UNIVERSAL LIFEUniversal life insurance, also known as flexible premium or adjustable life, is a variation of whole life insurance. Like whole life, it is also a permanent policy providing cash value benefits base on current interest rates. The feature that distinguishes this policy from its whole life cousin is that the premiums, cash values and level amount of protection can all(prenominal) be adjusted up or down during the contract term as the insureds needs change. Cash values earn an interes t rate that is set periodically by the insurance company and is generally guaranteed not to drop below a certain level.VARIABLE LIFE Variable life insuranceis designed to combine the traditional protection and savings features of whole life insurance with the developing believably of investment funds. This type of policy is comprised of two distinct components the general account and the separate account. The general account is the reserve or liability account of the insurance provider, and is not allocated to the individual policy. The separate account is comprised of various investment funds within the insurance companys portfolio, such as an equity fund, a money market fund, a bond fund, or some combination of these.Because of this key investment feature, the value of the cash anddeath benefitmay fluctuate, thus the name variable life. VARIABLE UNIVERSAL LIFE Variable general life insurance combines the features of universal life with variable life and gives the consumer the flexibility of adjusting premiums, death benefits and the selection of investment choices. These policies are technically classified assecuritiesand are therefore subject toSecurities and Exchange Commission(SEC) regulation and the oversight of the state insurance commissioner.Unfortunately, all the investment risk lies with the policy owner as a result, the death benefit value may rise or fall depending on the success of the policys underlying investments. However, policies may provide some type of guarantee that at least a minimum death benefit will be paid tobeneficiaries. TERM LIFE One of the virtually commonly used policies isterm life insurance. termination insurance can help protect your beneficiaries against financial loss resulting from your death it pays the face amount of the policy, but only provides protection for a definite, but limited, amount of time.Term policies do not build cash values and the maximum term period is usually 30 years. Term policies are useful wh en there is a limited time needed for protection and when the dollars available for coverage are limited. The premiums for these types of policies are significantly bring low than the costs for whole life. They also (initially) provide more insurance protection per dollar spent than any form of permanent policies. Unfortunately, the cost of premiums increases as the policy owner gets older and as the end of the specified term nears. Term polices can have some variations, including, but not limited toAnnual Re in the buffable and Convertible Term This policy provides protection for one year, but allows the insured to re young the policy for successive periods thereafter, but at higher premiums without having to furnish evidence of insurability. These policies may also be converted into whole life policies without any additionalunderwriting. Level Term This policy has an initial guaranteed premium level for specified periods the longer the guarantee, the great the cost to the buyer (but usually still far more affordable than permanent policies).These policies may be renewed after the guarantee period, but the premiums do increase as the insured gets older. Decreasing Term This policy has a level premium, but the amount of the death benefit decreases with time. This is often used in conjunction with mortgage debt protection. Many term life insurance policies have major features that provide additional flexibility for the insured/policyholder. A renewability feature, perhaps the most important feature associated with term policies, guarantees that the insured can renew the policy for a limited number of years (i. e. term between 5 and 30 years) based on attained age. Convertibility provisions permit the policy owner to exchange a term contract for permanent coverage within a specific time frame without providing additional evidence of insurability. Food for Thought Many insurance consumers only need to replace their income until theyve reached retirement age, ha ve store a fair amount of wealth, or their dependents are old enough to take care of themselves. When evaluating life insurance policies for you and your family, you must carefully consider the purchase of temporary versus permanent coverage.As you have just read, there are many differences in how policies may be structured and how death benefits are determined. There are also vast differences in their pricing and in the duration of life insurance protection. Many consumers opt to buy term insurance as a temporary risk protection and then invest the savings (the difference between the cost of term and what theywouldhave paid for permanent coverage) into an alternative investment, such as a brokerage account, mutual fund or retirement plan. Section I Industry overviewThe insurance industry in India has come a long way since the time when businesses were tightly regulated and concentrated in the hands of a some public sector insurers. Following the passage of the Insurance Regulator y and Development Authority Act in 1999, India abandoned public sector exclusivity in the insurance industry in favor of market-driven competition. This shift has brought about major changes to the industry. The beginning of a new era of insurance development has seen the gate of international insurers, the proliferation of innovative harvest-times and dispersion convey, as well as the bringing up of supervisory standards.Evolution of the industry The growing demand for insurance or so the worldcontinues to have a positive effect on the insurance industryacross all economies. India, being one of the fastest-growingeconomies (even in the current global economic slowdown),has exhibited a significant increase in its GDP, and aneven larger increase in its GDP per capita and disposableincome. Increasing disposable income, couple with the highpotential demand for insurance offers, has opened manydoors for both domestic and foreign insurers. The followingtable briefly depicts the evolution of the insurance sectorin India.Exhibit. 1. 1. Tracing the chronological evolution of the insurance industry grade Event 1818 Oriental Life Insurance Co. was set up in Calcutta. 1870 The first insurance company, Bombay Mutual Life Insurance Society, was formed. 1907 The Indian Mercantile Insurance Limited was formed. 1912 * Life Insurance Companies Act and the Pension Fund Act of 1912 * Beginning of formal insurance regulations 1928 The Indian Insurance Companies Act was passed to collect statistical information on both life and non-life. 1938 The Insurance Act of 1938 was passed there was strict state supervision to control frauds. 1956 * The Central Government took over 245 Indian and foreign life insurers as well as provident societies and nationalized these entities. * The LIC Act of 1956 was passed. 1957 The code of conduct by the General Insurance Council to ensure fair conduct and ethical business practices was framed. 1972 The General Insurance Business (Nationalization) Act was passed. 1991 Beginning of economic liberalization 1993 The Malhotra Committee was set up to complement the reforms initiated in the financial sector. 1994 Detariffication of aviation, liability, personal accidents and wellness and marine cargo products 1999 The Insurance Regulatory and Development Authority (IRDA) Bill was passed in the Parliament. 2000 * IRDA was incorporated as the statutory body to regulate and memorialise private sector insurance companies. * General Insurance Corporation (GIC), along with its four subsidiaries, i. e. , National Insurance Company Ltd. , Oriental Insurance Company Ltd. , impudently India Assurance Company Ltd. and United India Assurance Company Ltd. , was made Indias national reinsurer. 2005 Detariffication of marine hull 2006 Relaxation of foreign equity norms, thus facilitating the entry of new players 2007 Detariffication of all non-life insurance products except the auto third-party liability segment In India, th e Ministry of Finance is responsible for enacting and implementing legislations for the insurance sector with the Insurance Regulatory and Development Authority (IRDA) entitled with the regulatory and developmental role. The government also owns the majority share in some major companies in both life and non-life insurance segments.Both the life and non-life insurance sectors in India, which were nationalized in the 1950s and 1960s, respectively, were liberalized in the 1990s. Since the formation of IRDA and the opening up of the insurance sector to private players in 2000, the Indian insurance sector has witnessed quick crop. Current scenario A growing middle-class segment, rebellion income, increase insurance awareness, rising investments and infrastructure spending, have laid a fond foundation to extend insurance work in India. The total premium of the insurance industry has increased at a CAGR of 24. % between FY03 and FY09 to reach INR2, 523. 9 billion in FY09. The openin g up of the insurance sector for private participation/global players during the 1990s has resulted in stiff competition among the players, with each offering better quality products. This has certainly offered consumers the choice to buy a product that best fits his or her requirements. The number of players during the decade has increased from four and eight in life and non-life insurance, respectively, in 2000 to 23 in life and 24 in non-life insurance (including 1 in reinsurance) industry as in August 2010.Most of the private players in the Indian insurance industry are a joint venture between a dominant Indian company and a foreign insurer. Life insurance industry overview The life insurance sector grew at an impressive CAGR of25. 8% between FY03 and FY09, and the number of policies issued increased at a CAGR of 12. 3% during the same period. As of August 2010, there were 23 players in the sector(1 public and 22 private). The Life Insurance Corporation ofIndia (LIC) is the only public sector player, and held almost 65% of the market share in FY10 (based on first-year premiums).To address the need for highly customized products andensure prompt service, a large number of private sector players have entered the market. mod products, aggressive marketing and effective distribution have enabled fledgling private insurance companies to sign up Indian customers more cursorily than expected. Private sector players are expected to play an increasingly important role in the development of the insurance sector in the near future. In a fragmented industry, new players are gnawing away the market share of larger players.The existing smaller players have aggressive plans for network enlargement as their foreign partners are keen to enceinteize on the enormous potential that is latent in the Indian life insurance market. ICICI Prudential, Bajaj Allianz and SBI Life collectively account for approximately 50% of the market share in the private life insurance segment. To tap this opportunity, banks have also started entering alliances with insurance companies to develop/ address insurance products rather than merely distribute them. Non-life insurance industry overview Between FY03 and FY10, the non-life insurance sector grew at a CAGR of 17. 05%.Intense competition that followed the de-tariffication and pricing deregulation (which was started during FY07) decelerated the evolution momentum. As of August 2010, the sector had a total of 24 players (6 public insurers, 17 private insurers and 1 re-insurer). The non-life insurance sector offers products such as auto insurance, health insurance, fire insurance and marine insurance. In FY10, the non-life insurance industry had the following product mix. Private sector players have now pivoted their focus on auto and health insurance. let on of the total non-life insurancepremiums during FY10, auto insurance accounted for 43. % of the market share. The health insurance segment hasposted the highest gr owth, with its share in the total non-life insurance portfolio increasing from 12. 8% in FY07 to 20. 8% in FY10. These two sectors are highly promising, and are expected to increase their share manifold in the coming years. With the sector poised for immense growth, more players, including monocline players, are expected to emerge in the near future. The last two years has seen the emergence of companies specializing in health insurance such as Star Health & Allied Insurance and Apollo DKV.In the last decade, it was observed that most players have experienced growth by formulating aggressive growth strategies and enceinteizing on their distribution network to target the retail segment. Although the players in the private and public sector largely offer similar products in the non-life insurance segment, private sector players outscore their public sector counterparts in their quality of service. Growth drivers Indias favorable demographics help strengthen market penetration The li fe insurance coverage in India is very low, and many of those insured are underinsured.There is immense potential as the working population (2560 years) is expected to increase from 675. 8 million to 795. 5 million in the next 20 years (20062026). The projected per capita GDP is expected to increase from INR18, 280 in FY01 to INR100, 680 in FY26, which is indicative of rising disposable incomes. The demand for insurance products is expected to increase in light of the increase in purchasing power. Health insurance attracts insurance companies The Indian health insurance industry was valued at INR51. 2 billion as of FY10. During the period FY0310, the growth of the industry was recorded at a CAGR of 32. 9%. The share of health insurance was 20. 8% of the total non-life insurance premiums in FY10. Health insurance premiums are expected to increase to INR300 billion by 2015. Private sector insurers are more aggressive in this segment. Favorable demographics, fast progression of medica l technology as well as the increasing demand for better healthcare has eased growth in the health insurance sector. Life insurance companies are expected to target in the first place the young population so that they can amortize the risk over the policy term. Rising focus on the rural marketSince more than two-thirds of Indias population lives in rural areas, micro insurance is seen as the most suitable aid to reach the poor and socially disadvantaged sections of society. Poor insurance literacy and awareness, high transaction costs and inadequate understanding of leaf node needs and expectations has restricted the demand for micro-insurance products. However, the market remains significantly underserved, creating a vast opportunity to reach a large number of customers with good value insurance, whether from the base of existing insurers or through retail distribution networks.In FY09, individuals generated new business premium worth INR365. 7 million under 2. 15 million polici es, and the group insurance business amounted to INR2, 059. 5 million under 126 million lives. LIC contributed most of the business procured in this portfolio by garnering INR311. 9 million of individual premium from 1. 54 million lives and INR1,726. 9 million of group premium under 11. 1 million lives. LIC was the first player to offer specialized products with lower premium costs for the rural population. Other private players have also started focusing onthe rural market to strengthen their reach.Government tax incentive Currently, insurance products enjoy EEE benefits, giving insurance products an advantage over mutual funds. Investors are motivated to purchase insurance products to avail the nearly 30% effective tax benefit on select investments (including life insurance premiums) made every financial year. Life insurance is already the most popular financial product among Indians because of the tax benefits and income protection it offers in a country where there is very littl e social security. This drives more and more people to come within the insurance ambit. Emerging trendsExploring triple distribution channels for insurance products To increase market penetration, insurance companies need to expand their distribution network. In the recent past, the industry has witnessed the emergence of alternate distribution channels, which include banc assurance, direct selling agents, brokers, online distribution, corporate agents such as non-banking financial companies (NBFCs) and tie-ups of parabanking companies with local corporate agencies (e. g. NGOs) in remote areas. Agencies have been the most important and effective channel of distribution hitherto.The industry is viewing the movement of intermediaries from mere agents to advisors. Product origination With customers asking for higher levels of customization, product innovation is one of the best strategies for companies to increase their market share. This also creates greater efficiency as companies c an maintain lower unit costs, offer improved service and distributors can increase flexibility to pay higher commissions and generate higher sales. The pension sector, due to its inadequate penetration (only 10% of the working population is covered) offers tremendous potential for insurance companies to be more innovative.Consolidation in future The past few years have witnessed the entry of many companies in the domestic insurance industry, attracted by the significant potential of insurance sector. However, increasing competition in easily accessible urban areas, the FDI limit of 26% and the recent downturn in equity markets have dissembleed the growth prospects of some small private insurance companies. Such players may have to rethink about their future growth plans. Hence, consolidation with large and established players may prove to be a better solution for such small insurers.Larger companies would also prefer to take over or merge with other companies with established netw orks and avoid spending money in marketing and promotion. Therefore, consolidation will result in fewer but stronger players in the country as well as generate healthy competition. Mounting focus on EV over profitability Many companies are achieving profitability by imperative expenses releasing funds for future appropriations as well as through a strong renewal premium build up. As a few larger insurers continue to expand, most are focused on cost rationalization and the alignment of business models to ground level realities.This will better raiment insurers to realize reported embedded value (EV) and generate value from future new business. In the short term, companies are credibly to face challenges to achieve the coveted levels of profitability. As companies are also planning to get listed and raise funds, the higher profitability will help companies to get a better valuation of shares. However, in the long term, companies would need to focus on increasing EV, as almost 70% of a companys EV is influenced by renewal business and profitability is not as much of an indicator for valuation.Hence, players are now focusing on increasing their EV than profitability figures. Rising capital requirements Since insurance is a capital-intensive industry, capital requirements are likely to increase in the coming period. The capital requirement in the life insurance business is a puzzle out of the three factors (1) sum at risk (2) policyholders assets (3) new business strain and expense overruns. With new guidelines in place, capital requirements across the sector are likely to go up due to Higher sum assured driving higher sum at risk Greater allocation to policyholders assets due to lower chargesBack loading of charges is resulting in high new business strain, and expense overruns due to low productivity of the newly set distribution network (and inability to chance corresponding costs upfront) For non-life insurance companies, the growing demand for health insu rance products as well as motor insurance products is likely to boost the capital requirement. With the capital market picking up and valuations on the rise, insurance companies are exploring various ways of increasing their capital base to invest in product innovation, introducing new distribution channels, educating customers, developing the brand, etc.This is due to the following reasons A major portion of the costs in insurance companies is fixed (though it should be variable or semi-variable in nature). Hence, the reduction in sales will not result in the lowering of operational expenses, thus adversely clashing margins. As such, reduced margins would impact profitability, and insurers would need to invest additional funds. The sustained bearishness in capital markets could further pressurize the investment margins and increase the capital strain, especially in the case of capital/return guarantee product.Besides, companies are likely to witness a slowdown in new business grow th. Companies may also opt for product restructuring to lower their costs and optimally utilize capital. According to IRDA Regulations 2000, all insurance companies are required to maintain a solvency ratio of 1. 5 at all times. But this solvency margin is not sustainable. With the growing market risks, the level of required capital will be linked to the risks inherent in the underlying business. India is likely to start implementing Solvency II norms in the next three to four years.The transition from Solvency I norms to Solvency II norms by 2012 is expected to increase the demand for actuaries and risk management professionals. The regulator has also asked insurance companies to get their risk management systems and processes audited every three years by an external auditor. Many insurance companies have started aligning themselves with the new norms and hiring professionals to meet the deadline. Contribution of the insurance sector to the economy Insurance has had a very positive impact on Indias economic development.The sector is piecemeal increasing its parting to the countrys GDP. In addition, insurance is driving the infrastructure sector by increasing investments each year. Further, insurance has boosted the employment scenario in India by providing direct as well as indirect employment opportunities. Due to the healthy performance of the Indian economy, the share of life insurance premiums in the gross domestic savings (GDS) of the households sector has increased. The increased contribution of the insurance industry from the household GDS has been ploughed back into the economy, generating higher growth.The following factors showcase how the contribution of the insurance industry has strengthened economic growth Contribution of insurance to FDI The importance of FDI in the development of a capital deficient country such as India cannot be undermined. This is where the high-growth sectors of an economy play an important role by attracting substantial foreign investments. Currently, the total FDI in the insurance sector, which was INR50. 3 billion at the end of FY09, is estimated to increase to approximately INR51 billion in FY10.It is difficult to estimate, but an equal amount of additional foreign investment, can roughly flow into the sector if the government increases the FDI limit from 26% to 49%. The insurance sector, by virtue of attracting long-term funds, is best placed to channelize long-term funds toward the productive sectors of the economy. Therefore, the growth in their premium collections is expected to translate into higher investments in other key sectors of the economy. Therefore, the liberalization of FDI norms for insurance would not only benefit the sector, but some(prenominal) other criticalsectors of the economy.Section IIIndustry at cross-roadsof development Insurance industry significantly untapped latent potential Indias insurance industry has witnessed rapid growth during the last decade. Consequently, many foreign companies have expressed their interest in expend in domestic insurance companies, despite the Government of Indias regulation, which mandates that the foreign shareholding limit is fixed at 26% for the life as well as non-life insurance sectors. The countrys strong economic growth in recent years has helped increase penetration levels substantially. Premium income, as a percentage of GDP, increased from 3. % in FY03 to 7. 6% in FY09. However, the penetration of insurance in India still continues to be low, as compared to other developed and developing economies. The Indian life insurance sector has witnessed exponential growth, driven by innovation in product offerings and distribution owing to market entrants since the opening up of the sector in 2000. Currently, it is the fifth-largest life insurance market in Asia. The rapid expansion in the life sector coincided with a period of rising household savings and a growing middle class, backed with strong economic growt h. Innovative product design (e. . launch of ULIPs) and aggressive distribution strategies (e. g. development of banc assurance) by private sector players have significantly contributed to strong premium growth. The following plat shows the increasing premium per capita during the same period. The global economy has slowly started recovering from the economic recession. Lagging employment, coupled with declining aggregate wages, a weakened residential and commercial-grade real estate market, tight credit and a behavioral shift on the part of consumers from consumption to savings are factors contributing to a slow up recovery.Although the global insurance industry has not been impacted by the financial crisis as much as the banks, it still has its set of issues. The leading five issues on the global insurance watch list are * Managing risk The most significant concern for insurance companies is risk in all its forms. Increasingly, insurance companies are adopting an enterprise-wide view of managing risksemploying a framework to address them across the organization. * Promoting compliance The cost of regulatory compliance and the attendant reputational risk of non-compliance are on the rise. Growing globally The expansion into new markets is expected to help drive profits, as developed economies witness slower growth in the demand for insurance. * Lack of innovation around products and delivery Theuse of technology and emphasis on innovation will helpprovide better service and delivery. Institutions can alsostrengthen their ties with customers and differentiatethemselves from competition. * Adapting to demographic shifts The demographicchanges in North America, Europe, Japan and other areasis head start to shift assets from equities to annuities as wellas other fixed-income products.According to Swiss Re, among the key Asian markets, India is likely to have the fastest-growing life insurance market, with life premium poised to grow at a CAGR of 15% for the ne xt decade, slightly faster than the 14% expected for China. The growing consumer class, rising insurance awareness and greater infrastructure spending have made India and China the two most promising markets in Asia. Europe and the Americas represent relatively mature insurance markets. Though Indias penetration appears higher, it is not excessive, given the high level of investments in insurance policies underwritten.Nonetheless, besides India, Taiwan is the other Asian market that shares similar characteristics. Taiwan has the highest insurance penetration in Asia, largely driven by the immense popularity of ULIPs. The progress of the Indian insurance industry over the last decade has been the most crucial period in the establishment of this industry post the formation of IRDA in 2000. The initial four to five years witnessed the entry of many private players, each trying to acquire market share.The latter part of this phase witnessed a heightened focus on the expanding product ra nge, developing innovative products and building a robust distribution channel. The last one to two years have been very critical as the industry is trying to sustain its growth in light of the new regulationsbeing formulated. The Indian insurance industry is at a threshold from where it can witness the next growth wave, if presented with a favorable policy framework and an enabling distribution environment. The industry is poised to witness the emergence of new leaders who would carve a corner for themselves by using nstruments such as alternative channels of distribution, cost management and product innovation, among others. At this cross section, the role of the regulator is very significant. IRDA is in the finalization stage of most of the regulations pertaining to the industry. The regulator has introduced certain regulations to help improve disclosures, profitability, capital, consumer protection, etc. Promoting health insurance * IRDA has allowed insurance companies to offer Health plus Life Combi Product, a policy that would provide life cover along with health insurance to subscribers.Under the guidelines issued by the IRDA, life and non-life insurance firms can also partner in offering the healthplus- life cover. The combi products may be promoted by all life insurance and non-life insurance companies, however, a tie up is permitted between one life insurer and one nonlife insurer only. Thus, a life insurer is permitted to enter an alliance with only one non-life insurer and vice-versa. * The sale of combi products can be made through direct marketing channels, brokers and composite individual and corporate agents, common to both insurers.However, these products are not allowed to be marketed through bank referral arrangements. The regulator further specified that the guidelines do not apply to micro insurance products, which are governed by IRDA (Micro Insurance) Regulations, 2005. * Under the Combi Product, the underwriting of the respective porti on of the risks will be underwritten by respective insurance companies, i. e. , life insurance risk will be underwritten by the life insurance company and the health insurance portion of risk will be underwritten by the non-life insurance company. ImplicationsLife insurance has a much deeper penetration in India, as compared to the non-life insurance segment. This step is in sync with the governments, regulators and the insurance companys strategy to cover more people under the insurance umbrella. As insurers leverage on the marketing and operational network of their partner insurers, the proposed product innovation is expected to facilitate policy holders to select an integrated product of their choice under a single roof without shopping around the market for two different insurance coverage options from two different insurers.Therefore, insurers are expected to offer appropriate covers as an attractive proposition for the policyholders. India Foreign Direct Investment Trends Indi a FDI Inflows a The decade gone by would be considered as the golden year for foreign direct investment (FDI) in India. Between year 2000-11, India attracted cumulative FDI inflow of USD 237 Bn. 70% of this FDI constituted equity inflows, rest being re-invested earnings and other zcapital. Over the last decade, FDI in India grew at CAGR 23% The bull run in India FDI started in FY 2006-07 when it grew at 146% over the previous year.FDI peaked in year FY 2007-08 and only marginally declined in the following years of economic crisis. For the eight months of FY 2011-12 (Apr- Nov 2011), India has already garnered USD 33 Bn. of FDI matching the full year FDI of the previous year. Share of point five investing countries in India stood at 69%. Mauritius was the top country of origin for FDI flows into India earlier driven by the tax haven status enjoyed by Mauritius. Services sector (fiscal & Non-financial) attracted the largest FDI equity flows amounting USD 31 Bn. (20. % share). Other h igh share sectors in top five were Telecom (8%), Computer Software & Hardware (7%), Housing & Real Estate (7%) and Construction (7%). Over the years, Automatic route has become the most used entry route for FDI investments in India indicating the gradual repose of FDI policy. In FY 2010-11, 64% of Equity FDI inflows in India came via Automatic Route almost trebling from 22% share in FY 2000-01. Acquisition of shares constituted 25% and FIPB/SIA constituted 11% of equity inflows in 2010-11.Indias FDI policy has progressively liberalised since nineties and only a few sectors, primarily in services sectornow has FDI cap on investment. Indias inward investment regime is now be considered most liberal and transparent amongst emerging economies. Financial Sector FDI Over the last decade, BFSI (Financial, Insurance & Banking services) was the most preferred destination for FDI in India. FDI in the BFSI sector accounted for over 12% of the total cumulative FDI inflows into India and over 59% of the FDI in Services sector.Between 2000-11, Services sector (BFSI and Non-Financial) attracted FDI of USD 31 Bn. With a 59% share, BFSI FDI share amounted to USD 18 Bn. The subsectors with BFSI attracted the following FDI equity inflows Financial USD 13 Bn. , Banking USD 2. 9 Bn and InsuranceUSD 2. 3 Bn. Cumulative Inflows Mauritius had the largest share of FDI investment at 43% amongst top countries investing in Indian Financial services sector. Singapore (14%), UK (11%), the States (8. 5%) and Cyprus (3%) were the other countries in the top five lists.Top 10 BFSI FDI Equity inflows in India over the last decade amounted USD 4. 2 Bn. Key US investors in Indian BFSI sector included Merill Lynch, Morgan Stanley, Bank of New York Mellon, JP Morgan, Citibank Overseas, Franklin Templeton, New York Life, Metlife, AIG, Pramerica and PE/VC firms like Warburg, Blackstone, Carlyle, KKR & Co. and Apollo. Development of Indian capital markets (especially corporate bond markets) and fu rther policy liberalisation in commercial banking will be the key for future investments in Indian BFSI segment.FDI Inflows from United States United States of America has been one of the top FDI investors in India. account cumulative FDI Equity Inflows from the States into India between 2000 2011 were $9. 8 Bn,placing it at rank 3rd after Mauritius & Singapore. If we account for the US FDI equity inflows into India routed through tax havens, the FDI number will be considerably higher. Keeping up with overall trend, the Services sector (Financial & Non-Financial) accounted for the highest share of cumulative FDI equity inflows from USA with share of 22% amounting USD 2. Bn. USA FDI equity inflows in services sector represented 7% of the total FDI equity inflows in Indian services sector and in Financial services sector represented 8. 5% of the total FDI equity inflows from all countries amounting USD 2. 6 Bn. Following were the top FDI inflows from USA in Indian financial services 1 Citibank Overseas Investment Corp. into E-serve International USD 112 Mn. 2 Bank of New York Mellon into Kotak Mahindra Bank USD 102 Mn. 3 JP Morgan International Finance into JP Morgan Securities India Ltd. USD 75 Mn.FDI in Insurance sector Indian insurance sector got liberalised in 2001. Since then the sector has grown at 20% annually and have seen entry of 41 private insurance companies (Life 23, General 18) with many of them choosing to enter with a foreign joint venture partner. Investment through the FDI can be a maximum of 26%. In 2011, India was be 9th in life insurance business and 19th in general insurance business globally. The insurance density stood at USD 64. 4 (USD 9. 9 in 2001) and insurance penetration was 5. 2% (2. 3% in 2001).India has 49 life and general insurance companies with total investment of USD 6 Bn. as of March 2011. There are 24 companies operating each in the life insurance and general insurance with an investment of USD 4. 7 Bn. and USD 1. 3 Bn. r espectively. One company operates in re-insurance sector. FDI in Indian insurance sector stood at USD 1. 36 Bn of which life insurance comprised USD1. 1 Bn and general insurance comprised USD 0. 2 Bn of FDI. American companies have been investing in the Indian insurance sector since it opened up in 2001.As of March 2011, there are four American insurance players operating in India as joint venture partners namely New York Life, Metlife, AIG and Pramerica Financial. In 2011, Berkshire Hathway announced its entry into India Life insurance segment and Libery Mutual Group also got necessity approvals from IRDA for entry into general insurance business with an Indian partner. Besides insurers, US based brokers like Marsh & McLennan and Aon corp have also entered Indian markets. The total investment by American insurance companies in India is USD 315 Mn contributing 26% equity capital of USD 1. Bn. Share capital of the entities they were joint venture partners of. American origin FDI co nstituted 23% of FDI. Indias insurance industry is expected to reach USD 350-400 Bn. in premium income by 2020 making it among the top 3 life insurance markets and amongst top 15 general insurance markets. Its estimated the Indian insurance sector would attract USD 15-20 Bn. of investments in next couple of years. Liberalization of foreign investment in insurance sector thereby permitting up to 49% FDI will accelerate this flow f investments putting Indian insurance sector on a fast track to the top of the global insurance market. FDI in Financial Inclusion Indian Financial Inclusion sector is predominantly characterized by rural retail banking, Non-Banking Financial Corporations & Micro Finance Institutions (MFIs). For over a decade now, the Indianmicrofinance industry has been a posterchild of Indian Financial Inclusion. As of2010, microfinance institutions had a clientbase of 26 million borrowers and the totalloan outstanding was in excess of $3 Bn.The number of clients is expec ted toincrease to 64 million in 2012. Investments in NBFCs & MFIs not traded on the carnation exchange fall under the purview of Foreign Investment Promotion Board (FIPB). FIPB has set the following rules for FDI in start-up companies. From a slow start in 2006, equity investments in the Indian Microfinance sector skyrocketed in the 3 years from 2006 to 2009. The sector saw a total of 32 deals with a total invested capital of $230 mnbetween 2006 to 2009. Private equity investments constitute 70% of the total investments in Indian Micro Finance sector. 0% is constituted by Microfinance focused funds and private investors. US based private equity firms, Sequoia capital, Silicon Valley Bank & Sandstone capital have invested $150 mn in the Indian Microfinance sector. another(prenominal) area within Financial Inclusion which has attracted private equity investors is technology services for microfinance institutions. US based Private equity firms like Blackstone, Intel Capital has invest ed $50 mn in Financial Information Network & Operations (FINO), a technology services company in the Financial Inclusion sector.The large surface of the unbanked population means that there is great potential for continued high growth. Although the MFI sector is currently tweaking its business model to new regulatory reality, the high growth potential holds a significant promise for the investors in years to come FDI in Capital Markets Indian bourses both securities & commodities are amongst the favorite hunting musca volitans for foreign investors betting on Indias growth story. These businesses appeal to investors as theyhave long term horizons and signify bets onthe countrys growth.In 2004, 13% of thetotal PE investments made in the banking &financial services space were in stockexchanges. Since the beginning of 2007, 17 transactions (including consortium deals)took place with a disclosed deal value ofmore than $1. 15 billion. Out of this, 8 dealswith disclosed value of more th an $268million happened in 2010 only. In 2010, NSE had 12 foreign investors with a total foreign investment of 32% compared to BSE which had 8 foreign investors with share of 27% investments. In the same period, MCX had 22% foreign holding & NCDEX 15% foreign investments.Some of the key US investors active in Indian exchanges are NYSE group, Atlantic LLC, Goldman Sachs, Morgan Stanley, Citigroup, Northwest Venture Partners, George Soros, Argonaut ventures. Fidelity, Intel Capital, Merril Lynch, and Bessemer Capital are some of the US investors. Most of the transactions involving these exchanges have been secondary in nature. The change in regulations (restricting the single investor holding to 5%) also added to the spurt in secondary deals. The lucrative exchange space continues to attract more players who are looking to increase their market shares.India outward FDI in USA Strong economic growth and progressive liberalization has bring forth Indian companies toexpand their presenc e into new markets and USA is the largest recipient of Indian outboundinvestments. During 2004-09, India invested USD 5. 5 Bn. in US across 127 Greenfield projects. 80% ofthis investment went into five sectors Metals, Software & IT services, Leisure &Entertainment, industrial machinery, equipment & tools and financial services. The topthree states for Indian investments were Minnesota, Virginia and Texas. 10 Indiancompanies accounted for more than 70% of the US $5. Bn invested in Greenfield initiativesin US. In the same period, Indian companiesinvested USD 21 Bn. in mergers &acquisitions in United States. 83% of M&Ainvestments from India were in thefollowing sectors Manufacturing, IT & ITenabled services, Biotech, Chemicals &Pharmaceuticals, Automotive and Telecom. As of FY2010, US accounted for 6. 5% ofIndias outward FDI flows making Indiathe second largest investor in USA. As far as Indian Financial services sector investments in US goes, only a few public and private sector ban ks have expanded in USA by providing niche services (e. g. remittances).Indian outbound deals in the US are predominantly majority stakes paid in cash and financed with debt. In future, the nature of collaboration is likely to evolve with Indian companies seeking more alliances and transactions involving minority stakes & joint ventures rather than focusing on majority stakes. US offer Indian companies many benefits for investment notably abundant naturalresources, large consumer markets and access to innovation. Reciprocally, Indiasinvestment in this worlds largest recipient of FDI brings new skills, strengthenmanufacturing and will create jobs in the US. literature review Dunning and Narula, 1996) Export growth in India has been much faster than GDP growth over the past few decades. Several factors appear to have contributed to this phenomenon including foreign direct investment (FDI). However, despite increasing inflowsof FDI especially in recent years there has not been any at tempt to assess its contribution to Indias exportperformance one of the channels through which FDI influences growth. The Government of India recognizes thesignificant role played by foreign direct investment in accelerating the economic growth of the country and thusstarted a drip of economic and financial reforms in 1991.India is now initiating the second generation reformsintended for a faster integration of the Indian economy with the world economy. As a minute of theintroduction of various policies, India has been quickly changing from a restrictive regime to a liberal one. Now FDIis also encouraged in most of the economic activities under the automatic route. Studies about Western firms propose that market size and expected growth are the most essential determinants ofFDI into the area. Political and economic stability is also an important factor affecting FDI.Over the past 30 years,there have been various studies done on the impact of outbound and inbound activity of multin ationals on thegrowth and fiscal restructuring of the economies that they operate in. These studiessuggest that this is dependent on three main variables the type of FDI taken on, the composition of the localresources and capabilities of the country, and the economic and organizational policies followed by governments. Firms employ FDI in order to best utilize or manage more efficiently the existing competitive advantages. (Love and Lage-Hidalgo, 2000)Labor cost which is one of the main components of the cost function also influences FDI. Some studies find verylittle or negative relationship between wages and FDI, Some studies suggest that higher wages do not alwaysdiscourage FDI in some markets and therefore there is a positive relationship between wages and FDI. As higher labour costs leads to higher productivity which gives better quality goods. Latelystudies are aimed towards the impact of specific policy variables on FDI in the host country. Trade, tariff, taxes andexchange rat e are included in these policy variables. Asied (2002).Emphasize on policy reforms in developingcountries that act as a determinant of FDI. They state the corporate tax rates and the sincerity to foreign investmentare important determinants of FDI. Horizontal FDI is linked with market seeking behavior and is induced by lowtrade costs. Therefore high tariff barriers motivate firms to take on horizontal FDI. Thus production abroad byforei